EX-4.L 3 l04215aexv4wl.txt EXHIBIT 4(L) Exhibit 4(l) AMENDMENT AND WAIVER NO. 4 AMENDMENT AND WAIVER NO. 4, dated as of September 19, 2003 (this "Fourth Amendment"), in respect of the Credit Agreement, dated as of December 4, 1998, as amended and restated by the Amendment and Restatement to the Credit Agreement, dated as of December 5, 2000 and, as further amended by Amendment No. 3 to the Credit Agreement, dated as of December 12, 2001 (as amended, supplemented or otherwise modified from time to time, the "Credit Agreement") among THE SCOTTS COMPANY, an Ohio corporation (the "Borrower"), certain subsidiaries of the Borrower who are also borrowers from time to time under the Credit Agreement (the "Subsidiary Borrowers"), the several banks and other financial institutions from time to time parties to the Credit Agreement (the "Lenders"), JPMORGAN CHASE BANK (formerly The Chase Manhattan Bank), as agent for the Lenders (in such capacity, the "Administrative Agent"), SALOMON SMITH BARNEY, INC., as syndication agent (the "Syndication Agent"), CREDIT LYONNAIS NEW YORK BRANCH and BANK ONE, NA (Main Office Chicago), as successor by merger to BANK ONE, MICHIGAN, as co-documentation agents (the "Co-Documentation Agents"), and J.P. MORGAN SECURITIES INC., as successor to CHASE SECURITIES INC., as lead arranger (the "Lead Arranger") and as the book manager (the "Book Manager"). W I T N E S S E T H : WHEREAS, the Borrower wishes to issue new ten-year senior subordinated notes in an aggregate principal amount equal to $200,000,000 (the "New Senior Subordinated Notes"); WHEREAS, the Borrower wishes to amend the Credit Agreement as described herein and requests the waiver under the Credit Agreement described herein; and WHEREAS, the Lenders and the Administrative Agent are willing to amend and waive the Credit Agreement as provided for herein, but only on the terms and conditions contained herein; NOW, THEREFORE, in consideration of the premises and of the mutual agreements herein contained, the parties hereto agree as follows: 1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein shall have the respective meanings assigned to them in this Fourth Amendment and the Credit Agreement. 2. Waiver of Section 2.12(g). The Lenders hereby agree to waive the provisions of Section 2.12(g) of the Credit Agreement requiring that the Prepayment Date be 10 Business Days after the date of a Prepayment Option Notice; provided that any such Prepayment Date shall be not less than three Business Days after the date of a Prepayment Option Notice. 3. Amendment to Section 7.6(e) (Limitations on Indebtedness). Section 7.6(e) is hereby amended by deleting the amount "$225,000,000" from subparagraph (ii) thereto and inserting, in lieu thereof, the amount "$270,000,000". 4. Prepayments. The Borrower hereby agrees to make prepayments in accordance with the provisions of Sections 2.11 of the Credit Agreement of all Net Cash Proceeds received by it in connection with the issuance of the New Senior Subordinated Notes. 5. Representations and Warranties. On and as of the date hereof, and after giving effect to this Fourth Amendment, each of the Borrower and each Subsidiary Borrower hereby confirms, reaffirms and restates the representations and warranties set forth in Section 4 of the Credit Agreement mutatis mutandis, and to the extent that such representations and warranties expressly relate to a specific earlier date in which case each of the Borrower and each applicable Subsidiary Borrower hereby confirms, reaffirms and restates such representations and warranties as of such earlier date. 6. Conditions to Effectiveness. This Fourth Amendment shall become effective as of the date the Administrative Agent has received counterparts of this Fourth Amendment, duly executed and delivered by the Borrower, each Subsidiary Borrower, the Administrative Agent and the Required Lenders. 7. Continuing Effect; No Other Amendments. Except as expressly amended or waived hereby, all of the terms and provisions of the Credit Agreement are and shall remain in full force and effect. The amendments provided for herein are limited to the specific subsections of the Credit Agreement specified herein and shall not constitute an amendment of, or an indication of any Lender's willingness to amend or waive, any other provisions of the Credit Agreement or the same subsections for any other date or time period (whether or not other provisions or compliance with such subsections for another date or time period are affected by the circumstances addressed in this Fourth Amendment). 8. Expenses. The Borrower agrees to pay and reimburse the Administrative Agent for all its reasonable costs and expenses incurred in connection with the preparation and delivery of this Fourth Amendment, including, without limitation the reasonable fees and disbursements of counsel to the Administrative Agent. 9. GOVERNING LAW. THIS FOURTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 10. Counterparts. This Fourth Amendment may be executed by the parties hereto in any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. IN WITNESS WHEREOF, the parties hereto have caused this Fourth Amendment to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written. THE SCOTTS COMPANY By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Vice President and Treasurer ASEF B.V By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Vice President and Treasurer HYPONEX CORPORATION By: /s/ Rebecca J. Bruening ------------------------- Name: Rebecca J. Bruening Title: Vice President and Treasurer MIRACLE GARDEN CARE LIMITED By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Power of Attorney OM SCOTT INTERNATIONAL INVESTMENTS LTD. By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Power of Attorney SCOTTS AUSTRALIA PTY. LTD By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Power of Attorney SCOTTS BENELUX B.V.B.A. By: /s/ Rebecca J. Bruening ----------------------- Name: Rebecca J. Bruening Title: SCOTTS CANADA LTD. By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Power of Attorney SCOTTS CELAFLOR GMBH & CO. KG By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: SCOTTS FRANCE HOLDINGS SARL By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: SCOTTS FRANCE SARL By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: SCOTTS FRANCE SAS By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: SCOTTS HOLDING GMBH By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: SCOTTS HOLDINGS LIMITED By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Power of Attorney SCOTTS INTERNATIONAL B.V. By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: SCOTTS MANUFACTURING COMPANY By: /s/ Rebecca J. Bruening ------------------------- Name: Rebecca J. Bruening Title: Vice President and Treasurer SCOTTS-SIERRA HORTICULTURAL PRODUCTS COMPANY By:/s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Vice President and Treasurer SCOTTS-SIERRA INVESTMENTS, INC. By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Vice President and Treasurer SCOTTS TEMECULA OPERATIONS, LLC By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Vice President and Treasurer SCOTTS TREASURY EEIG By:/s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: Power of Attorney THE SCOTTS COMPANY ITALIA, S.R.L. By: /s/ Rebecca J. Bruening ------------------------ Name: Rebecca J. Bruening Title: THE SCOTTS COMPANY (UK) LTD. By: /s/ Rebecca J. Bruening ------------------------- Name: Rebecca J. Bruening Title: Power of Attorney JPMORGAN CHASE BANK (formerly The Chase Manhattan Bank), as Administrative Agent and as a Lender By: /s/ Randolph Cates ------------------------ Name: Randolph Cates Title: Vice President SALOMON SMITH BARNEY INC., as Syndication Agent and as a Lender By: /s/ Eivind Hegelstad ------------------------ Name: Eivind Hegelstad Title: Vice President CREDIT LYONNAIS NEW YORK BRANCH, as Co-Documentation Agent and as a Lender By: /s/ Lee E. Greve ------------------------ Name: Lee E. Greve Title: First Vice President BANK ONE, MICHIGAN, as successor to NBD BANK, as Co-Documentation Agent and as a Lender By: /s/ Joseph Pinzone ------------------------ Name: Joseph Pinzone Title: Director Signature Page to the Fourth Amendment, dated as of September 19, 2003, under The Scotts Company Credit Agreement. APEX (IDM) CDO I, LTD. ELC (CAYMAN) LTD. CDO SERIES 1999-1 ELC (CAYMAN) LTD. 1999-III ELC (CAYMAN) LTD. 2000-I TRYON CLO LTD. 2000-I SUFFIELD CLO, LIMITED By: David L. Babson & Company Inc. as Collateral Manager By: /s/ Glenn Duffy ------------------------ Name: Glenn Duffy Title: Managing Director AMERICAN EXPRESS CERTIFICATE COMPANY By: American Express Asset Management Group, Inc. as Collateral Manager By: /s/ Leanne Stavrakis ------------------------ Name: Leanne Stavrakis Title: Director - Operations ALLSTATE LIFE INSURANCE COMPANY By: /s/ Judith P. Greffin ------------------------ Name: Judith P. Greffin Title: Authorized Signatories By: /s/ Chris Goergen ------------------------ Name: Chris Goergen Title: Authorized Signatories AMMC CDO I, LIMITED By: American Money Management Corp. as Collateral Manager By: /s/ David P. Meyer ------------------------ Name: David P. Meyer Title: Vice President AIMCO CDO SERIES 2000-A By: /s/ Judith P. Greffin ------------------------ Name: Judith P. Greffin Title: Authorized Signatories By: /s/ Chris Goergen ------------------------ Name: Chris Goergen Title: Authorized Signatories AVALON CAPITAL LTD. By: INVESCO Senior Secured Management, Inc. As Portfolio Advisor By: /s/ Thomas H.E. Ewald ------------------------ Name: Thomas H.E. Ewald Title: Authorized Signatory AVALON CAPITAL LTD. By: INVESCO Senior Secured Management, Inc. As Portfolio Advisor By: /s/ Thomas H.E. Ewald ------------------------ Name: Thomas H.E. Ewald Title: Authorized Signatory BANK OF AMERICA, N.A. By: /s/ Sharon Burks Horos ------------------------ Name: Sharon Burks Horos Title: Vice President BANK OF TOKYO-MITSUBISHI TRUST COMPANY By: /s/ Andrew Bernstein ------------------------ Name: Andrew Bernstein Title: Asst. Vice President BNP PARIBAS By: /s/ Kristin R. Carlton ------------------------ Name: Kristin R. Carlton Title: Vice President By: /s/ Peter C. Labrie -------------------- Name: Peter C. Labrie Title: Central Region Manager BRYN MAWR CLO, LTD. By: Deerfield Capital Management LLC as its Collateral Manager By: /s/ Dale Burrow ------------------------ Name: Dale Burrow Title: Senior Vice President CENTURION CDO II, LTD. By: American Express Asset Management Group Inc. as Collateral Manger By: /s/ Leanne Stavrakis ------------------------ Name: Leanne Stavrakis Title: Director - Operations CHARTER VIEW PORTFOLIO By: INVESCO Senior Secured Management, Inc. as Investment Advisor By: /s/ Thomas H.E. Ewald ------------------------ Name: Thomas H.E. Ewald Title: Authorized Signatory CLOSE INTERNATIONAL CUSTODY SERVICES LIMITED RE Cypresstree International Loan Holdings Company Limited By: CypressTree Strategic Debt Management Co., Inc. as Investment Advisor By: /s/ Michelle L. Patterson ------------------------- Name: Michelle L. Patterson Title: Investment Analyst COOPERATIVE CENTRALE RAIFFEISEN- BOERENLEEBANK B.A., "RABOBANK NEDERLAND " NEW YORK BRANCH By: /s/ Michael L. Laurie ------------------------- Name: Michael L. Laurie Title: Executive Director By: /s/ Ian Reece ------------------------- Name: Ian Reece Title: Managing Director COMERCIA BANK By: /s/ Ryan Oliver ------------------------- Name: Ryan Oliver Title: Account Officer ERSTE BANK NEW YORK By: /s/ Paul Judicke ------------------------- Name: Paul Judicke Title: Vice President By: /s/ Bryan J. Lynch ------------------------- Name: Bryan J. Lynch Title: First Vice President FLEET NATIONAL BANK By: /s/ Hardy H. Thayce Jr. ---------------------- Name: Hardy H. Thayce Jr. Title: Managing Director FIDELITY ADVISOR SERIES II: FIDELITY ADVISOR FLOATING RATE HIGH INCOME FUND By: /s/ John H. Costello ------------------------- Name: John H. Costello Title: Assistant Treasurer FIFTH THIRD BANK, CENTRAL OHIO By: /s/ John Beardslee ------------------------- Name: John Beardslee Title: Vice President FOREST CREEK CLO, LTD. By: Deerfield Capital Management LLC as its Collateral Manager By: /s/ Dale Burrow ------------------------- Name: Dale Burrow Title: Senior Vice President FORTIS PROJECT FINANCE LIMITED By: /s/ Michael Wright ------------------------- Name: Michael Wright Title: Director By: /s/ Peter Hanratty ------------------------- Name: Peter Hanratty Title: Authorized Signatory GENERAL ELECTRIC CAPITAL CORPORATION By: /s/ Robert M. Kadlick ------------------------- Name: Robert M. Kadlick Title: Duly Authorized Signatory GULF STREAM-COMPASS CLO 2002-1, LTD. By: Gulf Steam Asset Management LLC As Collateral Manager By: /s/ Barry K. Love --------------------------------------- Name: Barry K. Love Title: Chief Credit Officer HARBOUR TOWN FUNDING TRUST By: /s/ Diana M. Himes --------------------------------------- Name: Diana M. Himes Title: Authorized Agent HARRIS TRUST AND SAVINGS BANK, as a lender By: /s/ Kimberly A. Yates --------------------------------------- Name: Kimberly A. Yates Title: Vice President HEWETT'S ISLAND CDO, LTD By: CypressTree Investment Management Company, Inc., as Portfolio Manager By: /s/ Michelle L. Patterson --------------------------------------- Name: Michelle L. Patterson Title: Investment Analyst IDS LIFE INSURANCE COMPANY By: American Express Asset Management Group, Inc. as Collateral Manager By: /s/ Leanne Stavrakis --------------------------------------- Name: Leanne Stavrakis Title: Director - Operations IKB CAPITAL CORPORATION By: /s/ Wolfgang W. Boeker --------------------------------------- Name: Wolfgang W. Boeker Title: Senior Vice President INVESCO EUROPEAN CDO I S.A. By: INVESCO Senior Secured Management, Inc. as Collateral Manager By: /s/ Thomas H.E. Ewald --------------------------------------- Name: Thomas H.E. Ewald Title: Authorized Signatory KEYBANK NATIONAL ASSOCIATION By: /s/ David J. Wechter --------------------------------------- Name: David J. Wechter Title: Vice President LASALLE BANK, NATIONAL ASSOCIATION By: /s/ Warren F. Weber --------------------------------------- Name: Warren F. Weber Title: First Vice President LIBERTY FLOATING RATE ADVANTAGE FUND By: Columbia Management Advisors, Inc. (f/k/a Stein Roe & Farnham Incorporated), as Advisor By: /s/ James R. Fellows --------------------------------------- Name: James R. Fellows Title: Senior Vice President & Portfolio Manager LOAN FUNDING I LLC a wholly owned subsidiary of Citibank, N.A. By: TCW Advisors, Inc. as portfolio manager of Loan Funding I L.L.C. By: /s/ G. Steven Kalin --------------------------------------- Name: G. Steven Kalin Title: Senior Vice President By: /s/ Richard F. Kurth --------------------------------------- Name: Richard F. Kurth Title: Senior Vice President LRP LANDESBANK RHEINLAND-PFALZ -GIROZENTRALE- By: /s/ Stefan Gilsdorf --------------------------------------- Name: Stefan Gilsdorf Title: Senior Vice President By: /s/ Hans-Henning Brautigam --------------------------------------- Name: Hans-Henning Brautigam Title: Vice President MAPLEWOOD (CAYMAN) LIMITED By: David L. Babson & Company Inc. under Delegated authority from Massachusetts Mutual Life Insurance Company as Investment Manager By: /s/ Glenn Duffy --------------------------------------- Name: Glenn Duffy Title: Managing Director MADISON AVENUE CDO I, LIMITED By: Metropolitan Life Insurance Company as Collateral Manager By: /s/ David W. Farrell --------------------------------------- Name: David W. Farrell Title: Director MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY By: David L. Babson & Company Inc. as Investment Adviser By: /s/ Glenn Duffy --------------------------------------- Name: Glenn Duffy Title: Managing Director METROPOLITAN LIFE INSURANCE COMPANY By: /s/ James R. Dingler --------------------------------------- Name: James R. Dingler Title: Director MUIRFIELD TRADING LLC By: /s/ Diana M. Himes --------------------------------------- Name: Diana M. Himes Title: Assistant Vice President NATIONAL CITY BANK By: /s/ Thomas E. Redmond --------------------------------------- Name: Thomas E. Redmond Title: Senior Vice President OASIS COLLATERALIZED HIGH INCOME PORTFOLIOS-1, LTD. By: INVESCO Senior Secured Management, Inc., as Sub-Advisor By: /s/ Thomas H.B. Ewald --------------------------------------- Name: Thomas H.B. Ewald Title: Authorized Signatory OLYMPIC FUNDING TRUST, SERIES 1999-1 By: /s/ Diana M. Himes --------------------------------------- Name: Diana M. Himes Title: Authorized Agent PPM SHADOW CREEK FUNDING LLC By: /s/ Diana M. Himes --------------------------------------- Name: Diana M. Himes Title: Assistant Vice President PPM SPYGLASS FUNDING TRUST By: /s/ Diana M. Himes --------------------------------------- Name: Diana M. Himes Title: Assistant Vice President ROSEMONT CLO, LTD, By: Deerfield Capital Management LLC as its Collateral Manager By: /s/ Dale Burrow --------------------------------------- Name: Dale Burrow Title: Senior Vice President SANKATY ADVISORS, LLC as Collateral Manager for Castle Hill I - INGOTS, Ltd., as Term Lender By: /s/ Diane J. Exter --------------------------------------- Name: Diane J. Exter Title: Managing Director Portfolio Manager SANKATY ADVISORS, LLC as Collateral Manager for Castle Hill II - INGOTS, Ltd., as Term Lender By: /s/ Diane J. Exter --------------------------------------- Name: Diane J. Exter Title: Managing Director Portfolio Manager SANKATY ADVISORS, LLC as Collateral Manager for Great Point CLO, 1999-1, Ltd., as Term Lender By: /s/ Diane J. Exter --------------------------------------- Name: Diane J. Exter Title: Managing Director Portfolio Manager SANKATY ADVISORS, LLC as Collateral Manager for Race Point CLO, Limited., as Term Lender By: /s/ Diane J. Exter --------------------------------------- Name: Diane J. Exter Title: Managing Director Portfolio Manager SARATOGA CLO I, LIMITED By: INVESCO Senior Secured Management, Inc. as Asset Manager By: /s/ Thomas H.B. Ewald --------------------------------------- Name: Thomas H.B. Ewald Title: Authorized Signatory SEABOARD CLO 2000 LTD. By: ORIX Capital Markets, LLC Its Collateral Manager By: /s/ Christopher L. Smith --------------------------------------- Name: Christopher L. Smith Title: Managing Director SEGUILS - CENTURION V, LTD. by: American Express Asset Management Group Inc. as Collateral Manager By: /s/ Leanne Stavrakis --------------------------------------- Name: Leanne Stavrakis Title: Director - Operations SEQUILS - cumberland I, ltd. By: Deerfield Capital Management LLC as its Collateral Manager By: /s/ Dale Burrow --------------------------------------- Name: Dale Burrow Title: Senior Vice President SEQUILS - LIBERTY, LTD. By: INVESCO Senior Secured Management, Inc. as Collateral Manager By: /s/ Thomas H.B. Ewald --------------------------------------- Name: Thomas H.B. Ewald Title: Authorized Signatory SIERRA CLO I By: /s/ John M. Casparian --------------------------------------- Name: John M. Casparian Title: Chief Operating Officer SUNTRUST BANK By: /s/ Brian Davis --------------------------------------- Name: Brian Davis Title: Director THE BANK OF NEW YORK By: /s/ Kenneth R. McDonnell --------------------------------------- Name: Kenneth R. McDonnell Title: Vice President THE BANK OF NOVA SCOTIA By: /s/ A.S. Norsworthy --------------------------------------- Name: A.S. Norsworthy Title: Sr. Manager THE HUNTINGTON NATIONAL BANK By: /s/ Mark A. Koscielski --------------------------------------- Name: Mark A. Koscielski Title: Vice President THE PRUDENTIAL INSURANCE COMPANY OF AMERICA By: /s/ Robin S. Snyder --------------------------------------- Name: Robin S. Snyder Title: Vice President U.S. BANK NATIONAL ASSOCIATION By: /s/ Robert H. Friend --------------------------------------- Name: Robert H. Friend Title: Vice President VAN KAMPEN CLOII, LIMITED By: Van Kampen Investment Advisory Corp as Collateral Manager By: /s/ Christina Jamieson --------------------------------------- Name: Christina Jamieson Title: Vice President VAN KAMPEN SENIOR INCOME TRUST By: Van Kampen Investment Advisory Corp. By: /s/ Christina Jamieson --------------------------------------- Name: Christina Jamieson Title: Vice President WACHOVIA BANK NATIONAL ASSOCIATION By: /s/ Mark S. Supple --------------------------------------- Name: Mark S. Supple Title: Vice President and Director WINGED FOOT FUNDING TRUST By: /s/ Diana M. Hines --------------------------------------- Name: Diana M. Hines Title: Authorized Agent