Minnesota | 1-7945 | 41-0216800 |
(State or Other Jurisdiction | (Commission | (I.R.S. Employer |
of Incorporation) | File Number) | Identification No.) |
3680 Victoria St. North, Shoreview, Minnesota | 55126-2966 |
(Address of Principal Executive Offices) | (Zip Code) |
10.1 | Omnibus Amendment No. 3 to Credit Agreement, Amendment No. 2 to Pledge And Security Agreement and Waiver, dated as of September 21, 2016, by and among us, our subsidiaries signatory thereto as guarantors, the institutions from time to time parties thereto as lenders, and JPMorgan Chase Bank, N.A., in its capacity as Administrative Agent for itself and the other lenders |
DELUXE CORPORATION | ||
/s/ J. Michael Schroeder | ||
J. Michael Schroeder | ||
Senior Vice President, | ||
General Counsel and Secretary |
10.1 | Omnibus Amendment No. 3 to Credit Agreement, Amendment No. 2 to Pledge And Security Agreement and Waiver, dated as of September 21, 2016, by and among us, our subsidiaries signatory thereto as guarantors, the institutions from time to time parties thereto as lenders, and JPMorgan Chase Bank, N.A., in its capacity as Administrative Agent for itself and the other lenders |
(A) | Effective as of the date hereof, subject to the satisfaction of the conditions precedent set forth in Section 4 below, (i) the Credit Agreement is hereby amended as set forth in the marked terms on Exhibit A-1 attached hereto (the “Amended Credit Agreement”), (ii) Schedule 2.01 (Commitments), Schedule 6.01 (Existing Indebtedness), Schedule 6.02 (Existing Liens) and Schedule 6.04 (Existing Investments) to the Credit Agreement are hereby amended in their entirety to be in the forms of Schedule 2.01, Schedule 6.01, Schedule 6.02 and Schedule 6.04, respectively, attached to the Amended Credit Agreement, (iii) Exhibit A (Form of Assignment and Assumption) to the Credit Agreement is hereby amended in its entirety to be in the form of Exhibit A attached to the Amended Credit Agreement, and (iv) Exhibit G-1 and G-2 (Form of Borrowing Request and Form of Interest Election Request) to the Credit Agreement are each hereby amended in their entirety to be in the forms of Exhibits G-1 and G-2, respectively, attached to the Amended Credit Agreement. In Exhibit A-1 hereto, deletions of text in the Amended Credit Agreement or the relevant Schedule or Exhibit are indicated by struck-through text, and insertions of text are indicated by bold, double-underlined text. Exhibit A-2 attached hereto sets forth a clean copy of the Amended Credit Agreement and the amended Schedules and Exhibits, after giving effect to such amendments. This Amendment shall constitute a Loan Document. |
(B) | By its execution below, each Lender identified on the signature pages hereto as a “Term Lender” agrees, effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in Section 3 below, to make Term Loans in an aggregate amount not to exceed the Term Loan Commitment set forth for such Lender on Schedule 2.01 attached to the Amended Credit Agreement and any such Lender not party to the Credit Agreement prior to the date hereof are hereby deemed to be bound by the provisions of the Credit Agreement and to be and become a Lender for all purposes of the Loan Documents to the same extent as if originally a party thereto. The terms applicable to such Term Loan Commitments (and the related Term Loans) are set forth in the Amended Credit Agreement. |
(A) | The Pledge and Security Agreement is hereby amended to delete the text of clause (b) of the definition of “Excluded Property” set forth therein and to substitute “[Reserved]” therefor. |
(B) | The Pledge and Security Agreement is hereby amended to delete the definition of “Scheduled Reporting Date” and to substitute the following definition therefor: |
(C) | Section 3.12(a)(iii) of the Pledge and Security Agreement is hereby amended to add the words “upon the request of the Administrative Agent” to the beginning of such clause. Section 4.5 of the Pledge and Security Agreement is hereby amended to delete the language “Each Grantor will” in the last sentence thereof and to substitute “Upon the request of the Administrative Agent, each Grantor will” therefor. Section 4.7 of the Pledge and Security Agreement is hereby amended to delete the language “Each Grantor will” in the first sentence thereof and to substitute “Upon the request of the Administrative Agent, each Grantor will” therefor. |
(D) | Section 4.12 of the Pledge and Security Agreement is hereby amended to add the following new sentence to the end of Section 4.12: |
(A) | duly executed originals of this Amendment from the Borrower, the Guarantors, the Required Lenders (determined immediately before the effectiveness of this Amendment), the Term Lenders and the Administrative Agent; |
(B) | such other documents, instruments and agreements as the Administrative Agent may reasonably request (including, without limitation, those agreements, documents, instruments and other deliverables appearing in Annex I hereto); and |
(C) | all fees and expenses due and payable on or prior to the date hereof in connection with this Amendment. |
(A) | Each of this Amendment, the Credit Agreement and the Pledge and Security Agreement as amended by this Amendment constitute the legal, valid and binding obligations of each Loan Party party thereto, and are enforceable against each such Loan Party in accordance with their terms (except as enforceability may be limited by bankruptcy, insolvency, or similar laws affecting the enforcement of creditors’ rights generally). |
(B) | Upon the effectiveness of this Amendment and after giving effect hereto no Default or Event of Default has occurred and is continuing. |
(C) | Upon the effectiveness of this Amendment and after giving effect hereto, each Loan Party hereby reaffirms all covenants, representations and warranties made in the Credit Agreement or the Pledge and Security Agreement, as applicable, as amended hereby, and agrees that all such covenants, representations and warranties shall be true and correct as of the effective date of this Amendment (unless such representation and warranty is made as of a specific date, in which case such representation and warranty shall be true and correct as of such date). |
(A) | Upon the effectiveness of Section 1 hereof, each reference to the Credit Agreement or “this Agreement” in the Credit Agreement or any other Loan Document, to the Pledge and Security Agreement or “this Security Agreement” in the Pledge and Security Agreement or any other Loan Document (unless limited by reference to such Loan Document as in effect on a prior date) shall mean and be a reference to the Credit Agreement or Pledge and Security Agreement as applicable, as amended by this Amendment. |
(B) | Except as specifically amended above, the Credit Agreement, the Pledge and Security Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith, shall remain in full force and effect, and are hereby ratified and confirmed. Each Loan Party (i) agrees that, except as specifically provided herein, this Amendment and the transactions contemplated hereby shall not limit or diminish the obligations of such Loan Party arising under or pursuant to the Credit Agreement, the Pledge and Security Agreement, the Subsidiary Guaranty or the other Loan Documents |
(C) | The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the administrative agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement or the Pledge and Security Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith. |
DELUXE CORPORATION, as the Borrower | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: Chief Financial Officer |
DELUXE ENTERPRISE OPERATIONS, LLC | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DELUXE SMALL BUSINESS SALES, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DELUXE MANUFACTURING OPERATIONS, LLC | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
SAFEGUARD BUSINESS SYSTEMS, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DELUXE FINANCIAL SERVICES, LLC | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DELUXE BUSINESS OPERATIONS, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
SAFEGUARD HOLDINGS, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
CHECKSBYDELUXE.COM, LLC | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DIRECT CHECKS UNLIMITED, LLC | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DIRECT CHECKS UNLIMITED SALES, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
SAFEGUARD ACQUISITIONS, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
SAFEGUARD FRANCHISE SYSTEMS, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
SAFEGUARD FRANCHISE SALES, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
WAUSAU FINANCIAL SYSTEMS, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DELUXE STRATEGIC SOURCING, INC. | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
SYNCSUITE, LLC | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
IMAGE DISTRIBUTION SERVICES | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
DATAMYX LLC | ||
By: | /s/ Edward A. Merritt | |
Name: Edward A. Merritt | ||
Title: VP & Treasurer | ||
JPMORGAN CHASE BANK, N.A., individually as a Lender (including as a Term Lender), as the Swingline Lender, as the Issuing Bank and as Administrative Agent | ||
By | /s/ Suzanne Ergastolo | |
Name: Suzanne Ergastolo | ||
Title: Executive Director |
FIFTH THIRD BANK, as a Lender (including as a Term Lender) | ||
By | /s/ Kurt Marsan | |
Name: Kurt Marsan | ||
Title: Vice President |
U.S. BANK NATIONAL ASSOCIATION, as a Lender (including as a Term Lender) | ||
By | /s/ Andrew Beckman | |
Name: Andrew Beckman | ||
Title: Vice President |
MUFG UNION BANK, N.A., as a Lender | ||
By | /s/ Mark Maloney | |
Name: Mark Maloney | ||
Title: Authorized Signatory |
PNC BANK, NATIONAL ASSOCIATION, as a Lender (including as a Term Lender) | ||
By | /s/ Shanti Aiyer | |
Name: Shanti Aiyer | ||
Title: Vice President |
SUNTRUST BANK, as a Lender (including as a Term Lender) | ||
By | /s/ Carlos Cruz | |
Name: Carlos Cruz | ||
Title: Vice President |
WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender (including as a Term Lender) | ||
By | /s/ Sid Khanolkar | |
Name: Sid Khanolkar | ||
Title: Director |
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender | ||
By | /s/ Robert Hetu | |
Name: Robert Hetu | ||
Title: Authorized Signatory | ||
By | /s/ Lingzi Huang | |
Name: Lingzi Huang | ||
Title: Authorized Signatory |
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Term Lender | ||
By | /s/ Mark Maloney | |
Name: Mark Maloney | ||
Title: Authorized Signatory |
BMO HARRIS BANK, N.A., as a Term Lender | ||
By | /s/ Sean T. Ball | |
Name: Sean T. Ball | ||
Title: Vice President |
1 Documents in bold italics to be delivered by the Borrower and counsel. |