EX-99.1 2 c10440exv99w1.htm SECOND AMENDMENT TO CREDIT AGREEMENT exv99w1
 

Exhibit 99.1
CONFORMED AS EXECUTED
SECOND AMENDMENT TO CREDIT AGREEMENT
          SECOND AMENDMENT TO CREDIT AGREEMENT (this “Second Amendment”), dated as of November 28, 2006, among NASH-FINCH COMPANY, a Delaware corporation (the “Borrower”), the Lenders party hereto from time to time, and DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent (in such capacity, the “Administrative Agent”). Unless otherwise indicated, all capitalized terms used herein and not otherwise defined shall have the respective meanings provided such terms in the Credit Agreement referred to below.
W I T N E S S E T H :
          WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to a Credit Agreement, dated as of November 12, 2004 (as amended, restated, modified and/or supplemented to, but not including, the date hereof, the “Credit Agreement”); and
          WHEREAS, subject to the terms, conditions and agreements herein set forth, the parties hereto have agreed to amend the Credit Agreement as herein provided;
          NOW, THEREFORE, it is agreed:
I. Amendments to Credit Agreement.
          1. Section 10.09 of the Credit Agreement is hereby amended by deleting the table in said Section in its entirety and inserting the following new table in lieu thereof:
         
Fiscal Quarter Ending Closest To   Ratio
September 30, 2006
    3.50:1.00  
December 31, 2006
    3.75:1.00  
March 31, 2007
    3.75:1.00  
June 30, 2007
    3.50:1.00  
September 30, 2007
    3.50:1.00  
December 31, 2007 and thereafter
    3.00:1.00  
          2. The definition of Applicable Commitment Commission Percentage and Applicable Margin appearing in Section 12.01 of the Credit Agreement is hereby amended by (w) replacing the first occurrence of “(ii)” with “(b)”, (x) replacing the first occurrence of the phrase “or Level 4” with the phrase “, Level 4 or Level 5”, and the subsequent two occurrences of the phrase “Level 4” with the phrase “Level 5”, (y) deleting the last sentence of the definition in its entirety and replacing such sentence with “Notwithstanding anything to the contrary contained above in this definition, Level 5 pricing shall apply at all times during which there shall exist any Event of Default.”, and (z) deleting the table appearing in said definition in its entirety and inserting the following new table in lieu thereof:

 


 

Applicable Margins for Revolving Loans, Swingline Loans and Initial Term Loans
                                                 
            Revolving Loans           Initial Term   Initial Term    
            maintained as           Loans   Loans   Applicable
            Base   Revolving Loans   maintained as   maintained as   Commitment
            Rate Loans and   maintained as   Eurodollar   Base Rate   Commission
Level     Total Leverage Ratio   Swingline Loans   Eurodollar Loans   Loans   Loans   Percentage
  1    
Less than 1.00:1.00
    0.00 %     1.00 %     2.00 %     1.00 %     0.250 %
 
  2    
Greater than or equal to 1.00:1.00 but less than 1.50:1.00
    0.25 %     1.25 %     2.00 %     1.00 %     0.250 %
 
  3    
Greater than or equal to 1.50:1.00 but less than 2.00:1.00
    0.50 %     1.50 %     2.00 %     1.00 %     0.375 %
 
  4    
Greater than or equal to 2.00:1.00 but less than 2.50:1.00
    0.75 %     1.75 %     2.25 %     1.25 %     0.375 %
 
  5    
Greater than or equal to 2.50:1.00
    1.00 %     2.00 %     2.50 %     1.50 %     0.375 %
          Notwithstanding anything to the contrary contained in the definition of “Applicable Commitment Commission Percentage” and “Applicable Margin” appearing in the Credit Agreement, any increase to the Applicable Commitment Commission Percentages and the Applicable Margin as a result of the occurrence the Second Amendment Effective Date (as defined below) shall be effective immediately upon occurrence of such date, with the determination of the Applicable Commitment Commission Percentages and the Applicable Margin to be based on the Total Leverage Ratio indicated in the certificate of the Borrower delivered to the Administrative Agent in respect of the Borrower’s fiscal quarter ended most recently prior to the Second Amendment Effective Date and with any such increase in the Applicable Commitment Commission Percentages and the Applicable Margin to apply until the next End Date as otherwise provided in the definition of “Applicable Commitment Commission Percentage” and “Applicable Margin”. All calculations of the Applicable Commitment Commission Percentages and the Applicable Margin for periods prior to the Second Amendment Effective Date shall be made in accordance with the definition thereof before giving effect to this Amendment.
II. Miscellaneous Provisions.
          1. In order to induce the Lenders to enter into this Second Amendment, the Borrower hereby represents and warrants that (i) no Default or Event of Default exists as of the Second Amendment Effective Date both immediately before and immediately after giving effect to this Second Amendment on such date and (ii) all of the representations and warranties contained in the Credit Agreement and in the other Credit Documents are true and correct in all material respects on the Second Amendment Effective Date immediately before and immediately after giving effect to this Second Amendment on such date, with the same effect as though such

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representations and warranties had been made on and as of the Second Amendment Effective Date (it being understood that any representation or warranty made as of a specific date shall be true and correct in all material respects as of such specific date).
          2. This Second Amendment is limited as specified and shall not constitute a modification, acceptance or waiver of any other provision of the Credit Agreement or any other Credit Document.
          3. This Second Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with the Borrower and the Administrative Agent.
          4. THIS SECOND AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.
          5. This Second Amendment shall become effective on the date (the “Second Amendment Effective Date”) when each of the following conditions shall have been satisfied:
     (i) the Borrower and the Required Lenders shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of facsimile or other electronic transmission) the same to White & Case LLP, 1155 Avenue of the Americas, New York, NY 10036 Attention: Lisa Alexander (facsimile number: 212-354-8113 / e-mail address: lalexander@whitecase.com);
     (ii) the Borrower shall have paid to the Administrative Agent and the Lenders all costs and expenses payable to the Administrative Agent and the Lenders to the extent then due pursuant to the Credit Agreement; and
     (iii) the Borrower shall have paid to each Lender which executes and delivers to the Administrative Agent (or its designee) a counterpart hereof by 5:00 P.M. (New York City time) on November 28, 2006, a non-refundable cash fee (the “Amendment Fee”) in an amount equal to 15 basis points (0.15%) on an amount equal to the sum of (i) the aggregate principal amount of all Term Loans of such Lender outstanding on the Second Amendment Effective Date plus (ii) the Revolving Loan Commitment of such Lender as in effect on the Second Amendment Effective Date. The Amendment Fee shall not be subject to counterclaim or set-off, or be otherwise affected by, any claim or dispute relating to any other matter. The Amendment Fee shall be paid by the Borrower to the Administrative Agent for distribution to the relevant Lenders on the Business Day immediately following the Second Amendment Effective Date.

-3-


 

          6. From and after the Second Amendment Effective Date, all references in the Credit Agreement and each of the other Credit Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement, as modified hereby on each such date.
* * *

-4-


 

          IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this Second Amendment as of the date first above written.
         
  NASH-FINCH COMPANY, as Borrower
 
 
  By:   /s/   LeAnne M. Stewart  
    Name:   LeAnne M. Stewart  
    Title:   Sr. Vice President & CFO  
 
Second Amendment to Credit Agreement

 


 

         
  DEUTSCHE BANK TRUST COMPANY AMERICAS,
Individually and as Administrative Agent
 
 
  By:   /s/ Scottye Lindsey  
    Name:   Scottye Lindsey  
    Title:   Director  
 
  By:   /s/ Evelyn Thierry  
    Name:   Evelyn Thierry  
    Title:   Vice President  
 
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    IDS Life Insurance Co
     
 
           
 
  By       /s/ Yvonne E. Stevens
         
 
      Name:   Yvonne E. Stevens
 
      Title:   Senior Managing Director
 
           
    NAME OF INSTITUTION:
 
           
    Ameriprise Certificate Company
     
        By: Riversource Investments,
         
        LLC as Collateral Manager
         
 
           
 
  By       /s/ Yvonne E. Stevens
         
 
      Name:   Yvonne E. Stevens
 
      Title:   Senior Managing Director
 
           
    NAME OF INSTITUTION:
 
           
    Centurion CDO 9 Ltd.
     
        By: Riversource Investments,
         
        LLC as Collateral Manager
         
 
           
 
  By       /s/ Robin C. Stancil
         
 
      Name:   Robin C. Stancil
 
      Title:   Director of Operations
 
           
    NAME OF INSTITUTION:
 
           
    Sequila-Centurion V, Ltd.
     
        By: Riversource Investments,
         
        LLC as Collateral Manager
         
 
           
 
  By       /s/ Robin C. Stancil
         
 
      Name:   Robin C. Stancil
 
      Title:   Director of Operations
 
           
    NAME OF INSTITUTION:
 
           
    Highland Legacy Limited.
     
        By: Highland Capital Management LP,
         
        Strand Advisors, Inc Its General Partner
         
 
           
 
  By       /s/ Brian Lohrding
         
 
      Name:   Brian Lohrding
 
      Title:   Treasurer
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    Southfork CLO Ltd.
     
        By: Highland Capital Management LP,
         
        Strand Advisors, Inc Its General Partner
         
 
           
 
  By       /s/ Brian Lohrding
         
 
      Name:   Brian Lohrding
 
      Title:   Treasurer
 
           
    NAME OF INSTITUTION:
 
           
    Red River CLO Ltd
     
        By: Highland Capital Management LP,
         
        Strand Advisors, Inc Its General Partner
         
 
           
 
  By       /s/ Brian Lohrding
         
 
      Name:   Brian Lohrding
 
      Title:   Treasurer
 
           
    NAME OF INSTITUTION:
 
           
    Augusta Trading LLC
     
 
 
  By       /s/ L. Murchison Taylor
         
 
      Name:   L. Murchison Taylor
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Farm Credit Bank of Texas
     
 
 
  By       /s/ Luis M. H. Requejo
         
 
      Name:   Luis M. H. Requejo
 
      Title:   Vice President
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    Jasper CLO Ltd
     
        By: Highland Capital Management LP,
         
        Strand Advisors, Inc Its General Partner
         
 
           
 
  By       /s/ Brian Lohrding
         
 
      Name:   Brian Lohrding
 
      Title:   Treasurer
 
           
    NAME OF INSTITUTION:
 
           
    Badland CLO Ltd
     
        By: Highland Capital Management LP,
         
        Strand Advisors, Inc Its General Partner
         
 
           
 
  By       /s/ Brian Lohrding
         
 
      Name:   Brian Lohrding
 
      Title:   Treasurer
 
           
    NAME OF INSTITUTION:
 
           
    Highland Floating Rate Advantage Fund
     
 
           
 
  By       /s/ M. Jason Blackburn
         
 
      Name:   M. Jason Blackburn
 
      Title:   Treasurer
 
           
    NAME OF INSTITUTION:
 
           
    LASalle Bank National Association
     
 
           
 
  By       /s/ Bradley R. Sprang
         
 
      Name:   Bradley R. Sprang
 
      Title:   First Vice President
 
           
    NAME OF INSTITUTION:
 
           
    GMAC Commercial Finance LLC
     
 
           
 
  By       /s/ David M. Duffy
         
 
      Name:   David M. Duffy
 
      Title:   Director
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    General Electric Capital Corporation, As
     
        Administrator for Merritt CLO Holding LLC
         
 
           
 
  By       /s/ Dwayne Coker
         
 
      Name:   Dwayne Coker
 
      Title:   Duly Authorized Signatory
 
           
    NAME OF INSTITUTION:
 
           
    General Electric Capital Corporation, As
     
        Administrator for GE Commercial Loan Holding LLC
         
 
           
 
  By       /s/ Dwayne Coker
         
 
      Name:   Dwayne Coker
 
      Title:   Duly Authorized Signatory
 
           
    NAME OF INSTITUTION:
 
           
    Cooperative Centrale Raiffeisen- Boerenleenbank
     
        BA, “Rabobank Nederland”, New York Branch
         
 
           
 
  By       /s/ Timothy Devane
         
 
      Name:   Timothy Devane
 
      Title:   Executive Director
 
           
 
  By       /s/ Brett Delfino
         
 
      Name:   Brett Delfino
 
      Title:   Executive Director
 
           
    NAME OF INSTITUTION:
 
           
    Blue Square Funding Limited Series 3
     
 
           
 
  By       /s/ Alice L. Wagner
         
 
      Name:   Alice L. Wagner
 
      Title:   Vice President
 
           
 
  By       /s/ Deborah O’Keeffe
         
 
      Name:   Deborah O’Keeffe
 
      Title:   Vice President
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    First Trust/Four Corners Senior Floating Rate
     
        Income Fund II as Lender By: Four Corners
         
        Capital Management LLC As Sub-Adviser
         
 
           
 
  By       /s/ Vijay Srinivasan
         
 
      Name:   Vijay Srinivasan
 
      Title:   Vice President
 
           
    Fortress Portfolio Trust as Lender By: Four Corners
     
        Capital Management LLC As Sub-Adviser
         
 
           
 
  By       /s/ Vijay Srinivasan
         
 
      Name:   Vijay Srinivasan
 
      Title:   Vice President
 
           
    Four Corners CLO 2005-I, LTC as Lender By: Four
     
        Corners Capital Management LLC As Sub- Adviser
         
 
           
 
  By       /s/ Vijay Srinivasan
         
 
      Name:   Vijay Srinivasan
 
      Title:   Vice President
 
           
    Four Corners CLO III Ltd
     
 
           
 
  By       /s/ Melissa Sadler
         
 
      Name:   Melissa Sadler
 
      Title:   AVP
 
           
    NAME OF INSTITUTION:
 
           
    General Electric Capital Corporation,
     
 
           
 
  By       /s/ Dwayne Coker
         
 
      Name:   Dwayne Coker
 
      Title:   Duly Authorized Signatory
 
           
    NAME OF INSTITUTION:
 
           
    Harris N.A., successor by merger to Harris Trust
     
        and Savings Bank
         
 
           
 
  By       /s/ C. Scott Place
         
 
      Name:   C. Scott Place
 
      Title:   Director
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    National City Bank
     
 
           
 
  By       /s/ Thomas E. Redmond
         
 
      Name:   Thomas E. Redmond
 
      Title:   Senior Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Senior Debt Portfolio,
     
        By: Boston Management and Research as
         
        Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Eaton Vance Institutional Senior Loan Fund,
     
        By: Eaton Vance Management As Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Eaton Vance CDO III, Ltd,
     
        By: Eaton Vance Management As Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    The Bank of Tokyo-Mitsubishi UFJ, Ltd, Chicago Branch
     
 
           
 
  By       /s/ Mathew A. Ross
         
 
      Name:   Mathew A. Ross
 
      Title:   Vice President & Manager
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    Eaton Vance CDO VI, Ltd,
     
        By: Eaton Vance Management As Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Eaton Vance CDO VIII, Ltd,
     
        By: Eaton Vance Management As Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Grayson & Co,
     
        By: Boston Management and Research as
         
        Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Big Sky III Loan Trust,
     
        By: Eaton Vance Management As Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    Eaton Vance VT Floating Rate Income Fund,
     
        By: Eaton Vance Management As Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    Wells fargo Bank, National Association
     
 
           
 
  By       /s/ Jerome W. Fons
         
 
      Name:   Jerome W. Fons
 
      Title:   Vice President
Second Amendment to Credit Agreement

 


 

             
    NAME OF INSTITUTION:
 
           
    Eaton Vance Short Duration Diversified Income Fund,
     
        By: Eaton Vance Management As Investment Advisor
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    The Norinchukin Bank, New York Branch,
     
        By: Eaton Vance Management As Attorney in Fact
         
 
           
 
  By       /s/ Michael B. Botthof
         
 
      Name:   Michael B. Botthof
 
      Title:   Vice President
 
           
    NAME OF INSTITUTION:
 
           
    U S Bank National Association
     
 
           
 
  By       /s/ Michael J. Staloch
         
 
      Name:   Michael J. Staloch
 
      Title:   Senior Vice President
Second Amendment to Credit Agreement