-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ostxz4B0iagBuN5ZdCEg+Vgf4Gs0EdZKnSM/CuBj9Ix9MKgZnO5DDS1zWD8mC0VR qRs+ssiqmb5sdegy9gY32A== 0000922907-05-000741.txt : 20051216 0000922907-05-000741.hdr.sgml : 20051216 20051216172354 ACCESSION NUMBER: 0000922907-05-000741 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051215 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Material Modifications to Rights of Security Holders ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051216 DATE AS OF CHANGE: 20051216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN ITALIAN PASTA CO CENTRAL INDEX KEY: 0000849667 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090] IRS NUMBER: 841032638 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13403 FILM NUMBER: 051270578 BUSINESS ADDRESS: STREET 1: 4100 N MULBERRY DRIVE SUITE 200 CITY: KANSAS CITY STATE: MO ZIP: 64116 BUSINESS PHONE: 8165026000 MAIL ADDRESS: STREET 1: 4100 N MULBERRY DRIVE SUITE 200 CITY: KANSS CITY STATE: MO ZIP: 64116 8-K 1 form8k_121505.htm FORM 8-K FOR AMERICAN ITALIAN PASTA COMPANY Form 8-K for American Italian Pasta Company 

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                     Pursuant to Section 13 OR 15(d) of the
                         Securities Exchange Act of 1934


Date of Report (Date of earliest event reported)        December 15, 2005
                                                --------------------------------

                         AMERICAN ITALIAN PASTA COMPANY
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                    001-13403                84-1032638
- --------------------------------------------------------------------------------
(State or other jurisdiction         (Commission             (IRS Employer
     of incorporation)               File Number)         Identification No.)

         4100 N. Mulberry Drive, Suite 200, Kansas City, Missouri 64116
- --------------------------------------------------------------------------------
         (Address of principal executive offices)        (Zip Code)

        Registrant's telephone number, including area code    (816) 584-5000
                                                          ----------------------
                                 Not Applicable
- --------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))





Item 1.01  Entry into a Material Definitive Agreement.

     Effective December 15, 2005, American Italian Pasta Company (the "Company")
received a waiver (the "Waiver") from its bank group under the Credit Agreement
by and among the Company, various financial institutions and Bank of America,
N.A., as administrative agent, dated as of July 16, 2001, as amended (the
"Credit Agreement") for any event of default arising from:

     (i)  non-compliance with certain financial covenants contained in the
          Credit Agreement for the fiscal periods ended July 1, 2005 and
          September 30, 2005 and the fiscal period ending December 30, 2005;

     (ii) the failure of the Company to comply with Section 10.2(i) of the
          Credit Agreement or the inaccuracy of representations and warranties
          in the Credit Agreement or certificates delivered pursuant to the
          Credit Agreement with respect to financial statements previously
          delivered to the administrative agent or any lender pursuant to the
          Credit Agreement, to the extent arising out of matters described by
          the Company in its press release dated August 9, 2005 and in certain
          discussions with the lenders (the "Disclosed Matters");

     (iii) the failure by the Company to deliver financial statements and
          compliance certificates for the fiscal year ended September 30, 2005
          and the fiscal quarter ending December 30, 2005, so long as such
          financial statements, certain representations and calculations of
          financial covenants in the Credit Agreement are delivered by December
          30, 2005 in the case of the fiscal year ended September 30, 2005 and
          by February 13, 2006 in the case of the fiscal quarter ending December
          30, 2005. These financial statements and financial covenant
          calculations will not take into account adjustments resulting or that
          may result from the pending investigation by the Company's audit
          committee, normal year-end audit adjustments and adjustments that may
          result from the Disclosed Matters;

     (iv) the restatement of the Company's financial statements for the fiscal
          periods ending on or prior to April 1, 2005; and

     (v)  the failure by the Company to deliver the consolidated plan and
          financial forecast for the fiscal year commencing October 1, 2005 as
          required by the Credit Agreement.

     The Waiver is effective until the earliest to occur of (i) the failure to
deliver the financial statements and financial covenant calculations as
described above, (ii) the occurrence of any event of default under the Credit
Agreement other than those events of default waived by the Waiver, (iii) March
16, 2006 and (iv) the date of the effectiveness of an amendment to the Credit
Agreement amending the financial covenants described in the Waiver.





     The Company also agreed to certain interest rate changes until the
expiration of the Waiver and agreed that until the expiration of the Waiver and
at any time thereafter during the existence of an event of default, the Company
will not make any dividend payments or repurchases of common stock other than
repurchases under certain employee benefit plans and arrangements.

     The Waiver is incorporated by reference herein and attached hereto as
Exhibit 10.1.

Item 3.03  Material Modifications to Rights of Security Holders.

     The discussion under Item 1.01 above regarding restrictions on the payment
of dividends by the Company is incorporated by reference herein.

Item 9.01  Financial Statements and Exhibits.

     (c)  Exhibits.

     10.1 Waiver under Credit Agreement dated December 14, 2005.





                                   SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


     Date: December 16, 2005              AMERICAN ITALIAN PASTA COMPANY


                                             By:  /s/ George D. Shadid
                                                --------------------------------
                                                      George D. Shadid
                                                      Chief Financial Officer





                                  EXHIBIT INDEX


Exhibit Number                  Description

10.1                    Waiver under Credit Agreement dated December 14, 2005
EX-10 2 form8kexh101_121505.htm EXHIBIT 10.1 TO FORM 8-K DATED 12-15-05 Exhibit 10.1 to Form 8-K 



                                December 14, 2005

American Italian Pasta Company
4100 N. Mulberry Drive
Suite 200
Kansas City, MO 64116

     Re:  Waivers under Credit Agreement

Ladies/Gentlemen:

     Please refer to the Credit Agreement dated as of July 16, 2001 (as
previously amended or otherwise modified, the "Credit Agreement") among American
Italian Pasta Company (the "Company"), various financial institutions and Bank
of America, N.A., as administrative agent (in such capacity, the "Administrative
Agent"). Capitalized terms used but not otherwise defined herein shall have the
respective meanings given to them in the Credit Agreement.

     At the request of the Company, the Required Lenders waive until the Waiver
Termination Date (as defined below) any Event of Default (collectively, the
"Known Defaults") arising from:

     (a) The failure of the Company to comply with Section 10.6.1 (Minimum Fixed
Charge Coverage Ratio), 10.6.2 (Maximum Leverage Ratio) and 10.6.4 (Minimum
EBITDA) of the Credit Agreement for the Computation Periods ended July 1, 2005
and September 30, 2005 and the Computation Period ending December 30, 2005.

     (b) The failure of the Company to comply with Section 10.2(i) of the Credit
Agreement or the inaccuracy of (i) the representation and warranty in Section
9.4 of the Credit Agreement or (ii) any certificate delivered pursuant to
Section 10.1.1, 10.1.2 or 10.1.3 with respect to any financial statements
previously delivered by the Company to the Administrative Agent or any Lender
pursuant to the Credit Agreement, in each case to the extent arising out of the
matters described by the Company in its press release dated August 9, 2005 and
in conference calls with the Lenders held on July 12, 2005, August 11, 2005,
September 8, 2005, October 28, 2005 and November 30, 2005 (the "Disclosed
Matters").

     (c) The failure by the Company to deliver (i) financial statements and the
corresponding compliance certificate pursuant to Sections 10.1.2 and 10.1.3 of
the Credit Agreement for the Fiscal Quarter ended July 1, 2005 and (ii)(x)
financial statements and the corresponding compliance certificate pursuant to
Sections 10.1.1 and 10.1.3 of the Credit Agreement for the Fiscal Year ended
September 30, 2005 and (y) financial statements and the corresponding compliance
certificate pursuant to Sections 10.1.2 and 10.1.3 of the Credit Agreement for
the Fiscal Quarter ending December 30, 2005 so long as the Company delivers to
the Administrative Agent and the Lenders (A) in the case of the foregoing clause
(ii)(x), financial statements for such Fiscal Year not later than December 30,
2005, and (B) in the case of the foregoing clause (ii)(y), financial statements
for such Fiscal Quarter not later than February 13, 2006, together in each case
with: (A) a statement to the effect that such financial statements accurately
set forth the financial condition and results of operations of the Company and
its Subsidiaries for, and as of the end of, such fiscal period, without giving
effect to the Permitted





Adjustments (as defined below); and (B) calculations in reasonable detail (but
without giving effect to the Permitted Adjustments) of the financial covenants
set forth in Section 10.6 of the Credit Agreement as of the last day of such
fiscal period. For purposes of this clause (c), "Permitted Adjustments" means
(1) adjustments resulting (or that may result) from the pending investigation by
the audit committee of the Company's board of directors, (2) adjustments that
may result from the Disclosed Matters and (3) normal year-end audit adjustments.

     (d) The restatement of the Company's financial statements for the fiscal
periods ending on or prior to April 1, 2005.

     (e) The failure by the Company to deliver the consolidated plan and
financial forecast for the Fiscal Year commencing October 1, 2005 pursuant to
Section 10.1.8 of the Credit Agreement.

     As used herein, "Waiver Termination Date" means the earliest to occur of
(i) failure of the Company to comply with the requirements set forth in clause
(c) of the preceding paragraph, (ii) the occurrence of any Event of Default or
Unmatured Event of Default other than the Known Defaults, (iii) March 16, 2006
and (iv) the date of the effectiveness of an amendment to the Credit Agreement
amending the financial covenants set forth in clause (a) of the preceding
paragraph. The Company acknowledges that (absent the Required Lenders granting,
in their sole and complete discretion, a subsequent waiver or amendment),
immediate Events of Default shall exist on the Waiver Termination Date as a
result of (x) the Known Defaults and (y) any other then-existing event that
constitutes an Event of Default.

     In consideration of the waivers set forth above, the Company agrees with
the Lenders that (a) from the date of effectiveness hereof through the end of
the Waiver Period, notwithstanding any contrary provision of the Credit
Agreement, (i) the Applicable Eurocurrency Margin and the LC Fee Rate will equal
4.500%, (ii) the Applicable Base Rate Margin will equal 3.250% and (iii) the
Non-Use Fee Rate will equal 0.700% and (b) during the Waiver Period, and at any
time thereafter during the existence of an Event of Default, the Company will
not, and will not permit any Subsidiary to, make any Restricted Payment of the
type described in clause (iii) of the proviso to Section 10.10 of the Credit
Agreement, other than repurchases of the Company's capital stock (i) from
current or former employees of the Company or any Subsidiary pursuant to the
American Italian Pasta Company 2000 Equity Incentive Plan, (ii) from the
Company's 401-k plan and (iii) pursuant to the terms of any other employee
benefit arrangement as in effect prior to September 1, 2005.

     This waiver letter is limited to the matters specifically set forth herein
and shall not be deemed to constitute a waiver, consent or amendment with
respect to any other matter whatsoever. Except as specifically set forth herein,
the Credit Agreement shall remain in full force and effect and is hereby
ratified in all respects.

     This waiver letter shall become effective when the Administrative Agent has
received (a) counterparts hereof executed by the Required Lenders and
acknowledged by the Company and each Guarantor and (b) a waiver fee for each
Lender that, on or prior to 5:00 p.m. (Chicago time) on December 14, 2005,
delivers an executed counterpart hereof to the Administrative Agent,





such waiver fee to equal 0.25% of the sum of (i) the outstanding principal
amount of such Lender's Term Loan and (ii) such Lender's Revolving Commitment.

     This waiver letter may be executed in counterparts and by the parties
hereto on separate counterparts. A signature page hereto delivered by facsimile
shall be effective as delivery of an original counterpart.





     This letter agreement shall be a contract made under and governed by the
laws of the State of Illinois applicable to contracts made and to be performed
entirely within such State.



                                BANK OF AMERICA, N.A., as Administrative
                                Agent


                                By:    /s/ Jeffrey T. White
                                   ------------------------------------------
                                Name:   Jeffery T. White
                                Title:  Assistant Vice President


                                BANK OF AMERICA, N.A., as a Lender


                                By:    /s/ Lynn Simmons
                                   ------------------------------------------
                                Name:   Lynn Simmons
                                Title:  Senior Vice President


                                JPMORGAN CHASE BANK, N.A. (f/k/a Bank
                                One, NA), as Documentation Agent and as a Lender


                                By:    /s/ Daniella M. Clarke
                                   ------------------------------------------
                                Name:   Daniella M. Clarke
                                     ----------------------------------------
                                Title:  Vice President
                                      ---------------------------------------


                                U.S. BANK NATIONAL
                                ASSOCIATION, as Syndication
                                Agent and as a Lender


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------





                                ING CAPITAL LLC


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------



                                KEYBANK NATIONAL ASSOCIATION, as Co-
                                Agent and as a Lender


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------



                                COOPERATIEVE CENTRALE RAIFFEISEN-
                                BOERENLEENBANK B.A., "RABOBANK
                                NEDERLAND", NEW YORK BRANCH, as Co-
                                Agent and as a Lender


                                By:    /s/ Brad Peterson
                                   ------------------------------------------
                                Name:      Brad Peterson
                                     ----------------------------------------
                                Title:     Executive Director
                                      ---------------------------------------


                                By:    /s/ Andrew Sherman
                                   ------------------------------------------
                                Name:      Andrew Sherman
                                     ----------------------------------------
                                Title:     Counsel/Executive Director
                                      ---------------------------------------



                                WELLS FARGO BANK, N.A., as Co-Agent and as
                                a Lender


                                By:    /s/ Ellen Trach
                                   ------------------------------------------
                                Name:      Ellen Trach
                                     ----------------------------------------
                                Title:     Senior Vice President
                                      ---------------------------------------





                                BANCA NAZIONALE DEL LAVORO S.P.A.


                                By:    /s/ Juan Cortes
                                   ------------------------------------------
                                Name:      Juan Cortes
                                     ----------------------------------------
                                Title:     Relationship Manager
                                      ---------------------------------------


                                By:    /s/ Francesco DiMario
                                   ------------------------------------------
                                Name:      Francesco DiMario
                                     ----------------------------------------
                                Title:     Senior Manager
                                      ---------------------------------------



                                THE BANK OF NEW YORK


                                By:    /s/ Edward J. DeSalvio
                                   ------------------------------------------
                                Name:      Edward J. DeSalvio
                                     ----------------------------------------
                                Title:     Vice President
                                      ---------------------------------------



                                COMERICA BANK


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------



                                COMMERCE BANK, N.A.


                                By:    /s/ Wayne C. Lewis
                                   ------------------------------------------
                                Name:      Wayne C. Lewis
                                     ----------------------------------------
                                Title:     Vice President
                                      ---------------------------------------



                                SUNTRUST BANK, as Co-Agent and as a Lender


                                By:    /s/ Byron R. Kurtgis
                                   ------------------------------------------
                                Name:      Byron R. Kurtgis
                                     ----------------------------------------
                                Title:     Director
                                      ---------------------------------------





                                UNICREDITO ITALIANO


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------



                                UMB BANK, N.A.


                                By:    /s/ David A Proffitt
                                   ------------------------------------------
                                Name:      David A. Proffitt
                                     ----------------------------------------
                                Title:     Senior Vice President
                                      ---------------------------------------



                                COBANK, ACB


                                By:    /s/ Mary Beth Curry
                                   ------------------------------------------
                                Name:      Mary Beth Curry
                                     ----------------------------------------
                                Title:     Vice President
                                      ---------------------------------------



                                FARM CREDIT SERVICES OF MINNESOTA
                                VALLEY PCA D/B/A FCS COMMERCIAL
                                FINANCE GROUP


                                By:    /s/ James M. Grafing
                                   ------------------------------------------
                                Name:      James M. Grafing
                                     ----------------------------------------
                                Title:     SVP - Syndiated Finance
                                      ---------------------------------------



                                AGFIRST, FCB


                                By:    /s/ Bruce B. Fortner
                                   ------------------------------------------
                                Name:      Bruce B. Fortner
                                     ----------------------------------------
                                Title:     Vice President
                                      ---------------------------------------





                                U.S. AGBANK, FCB (f/k/a Farm Credit Bank of
                                Wichita)


                                By:    /s/ Greg E. Somerhalder
                                   ------------------------------------------
                                Name:      Greg E. Somerhalder
                                     ----------------------------------------
                                Title:     Vice President
                                      ---------------------------------------



                                FARM CREDIT SERVICES OF AMERICA, PCA


                                By:
                                   ------------------------------------------
                                Name:
                                     ----------------------------------------
                                Title:
                                      ---------------------------------------



                                GREENSTONE FARM CREDIT SERVICES, FLCA


                                By:    /s/ Alfred S. Compton, Jr.
                                   ------------------------------------------
                                Name:      Alfred S. Compton, Jr.
                                     ----------------------------------------
                                Title:     VP/Sr. Lending Officer
                                      ---------------------------------------



                                NORTHWEST FARM CREDIT SERVICES, PCA


                                By:    /s/ Casey Kinzer
                                   ------------------------------------------
                                Name:      Casey Kinzer
                                     ----------------------------------------
                                Title:     Sr. Credit Officer
                                      ---------------------------------------





                                1st FARM CREDIT SERVICES


                                By:    /s/ Dale A. Richardson
                                   ------------------------------------------
                                Name:      Dale A. Richardson
                                     ----------------------------------------
                                Title:     Vice President, Capital Markets
                                      ---------------------------------------



                                BDC FINANCE, L.L.C.


                                By:    /s/ James J. Zenni, Jr.
                                   ------------------------------------------
                                Name:      James J. Zenni, Jr.
                                     ----------------------------------------
                                Title:     BDC Finance, L.L.C.
                                      ---------------------------------------



                                BLUE RIDGE INVESTMENTS, L.L.C.


                                By:    /s/ George C. Carp
                                   ------------------------------------------
                                Name:      George C. Carp
                                     ----------------------------------------
                                Title:     SVP - Finance
                                      ---------------------------------------



                                CANADIAN IMPERIAL BANK OF COMMERCE


                                By:    /s/ John O'Dowd
                                   ------------------------------------------
                                Name:      John O'Dowd
                                     ----------------------------------------
                                Title:     Authorized Signatory
                                      ---------------------------------------


                                By:    /s/ Milena Grgic
                                   ------------------------------------------
                                Name:      Milena Grgic
                                     ----------------------------------------
                                Title:     Authorized Signatory
                                      ---------------------------------------



                                CITIGROUP FINANCIAL PRODUCTS INC.


                                By:    /s/ Nora Kain
                                   ------------------------------------------
                                Name:      Nora Kain
                                     ----------------------------------------
                                Title:     Authorized Signatory
                                      ---------------------------------------





                                DEUTSCHE BANK AG NEW YORK BRANCH
                                By: DBServices New Jersey, Inc.


                                By:    /s/ Deirdre Whorton
                                   ------------------------------------------
                                Name:      Deirdre Whorton
                                     ----------------------------------------
                                Title:     Assistant Vice President
                                      ---------------------------------------


                                By:    /s/ Alice L. Wagner
                                   ------------------------------------------
                                Name:      Alice L. Wagner
                                     ----------------------------------------
                                Title:     Vice President
                                      ---------------------------------------



                                DKR WOLF POINT HOLDING FUND LIMITED


                                By:    /s/ Brian T. Schinderle
                                   ------------------------------------------
                                Name:      Brian T. Schinderle
                                     ----------------------------------------
                                Title:     Senior Managing Director
                                      ---------------------------------------



                                FARM CREDIT SERVICES OF MISSOURI, PCA


                                By:    /s/ Terry Eidson
                                   ------------------------------------------
                                Name:      Terry Eidson
                                     ----------------------------------------
                                Title: Senior Vice President, Credit Services
                                      ---------------------------------------



                                LENNOX AVENUE CLO I, LIMITED
                                By:  ANGELO, GORDON & CO., L.P.
                                     AS COLLATERAL MANAGER


                                By:    /s/ Bruce Martin
                                   ------------------------------------------
                                Name:      Bruce Martin
                                     ----------------------------------------
                                Title:     Managing Director
                                      ---------------------------------------





                                NORTHWOODS CAPITAL V, LIMITED
                                By:  ANGELO, GORDON & CO., L.P.
                                     AS COLLATERAL MANAGER


                                By:    /s/ Bruce Martin
                                   ------------------------------------------
                                Name:      Bruce Martin
                                     ----------------------------------------
                                Title:     Managing Director
                                      ---------------------------------------



                                NORTHWOODS CAPITAL IV, LIMITED
                                By:      ANGELO, GORDON & CO., L.P.
                                         AS COLLATERAL MANAGER


                                By:    /s/ Bruce Martin
                                   -------------------------------------------
                                Name:      Bruce Martin
                                     -----------------------------------------
                                Title:     Managing Director
                                      ----------------------------------------





ACKNOWLEDGED AND AGREED:

AMERICAN ITALIAN PASTA COMPANY


By:       /s/ George D. Shadid
   -------------------------------------
Name:         George D. Shadid
     -----------------------------------
Title:        Executive VP / CFO
      ----------------------------------


AIPC FINANCE, INC.


By:       /s/ George D. Shadid
   --------------------------------------
Name:         George D. Shadid
     ------------------------------------
Title:        Executive VP / CFO
      -----------------------------------


AIPC SALES CO.


By:       /s/ George D. Shadid
   --------------------------------------
Name:         George D. Shadid
     ------------------------------------
Title:        Executive VP / CFO
      -----------------------------------


AIPC WISCONSIN, LIMITED PARTNERSHIP

By:  America Italian Pasta Company, its General Partner


By:       /s/ George D. Shadid
   ---------------------------------------
Name:         George D. Shadid
     -------------------------------------
Title:        Executive VP / CFO
      ------------------------------------


AIPC MISSOURI, LLC

By:  American Italian Pasta Company, its Managing Member


By:       /s/ George D. Shadid
   ----------------------------------------
Name:         George D. Shadid
     --------------------------------------
Title:        Executive VP / CFO
      -------------------------------------





AIPC SOUTH CAROLINA, INC.


By:       /s/ George D. Shadid
   -----------------------------------------
Name:         George D. Shadid
     ---------------------------------------
Title:        Executive VP / CFO
      --------------------------------------


AIPC ARIZONA, LLC

By:  AIPC Finance, Inc., its sole Member


By:       /s/ George D. Shadid
    ----------------------------------------
Name:         George D. Shadid
     ---------------------------------------
Title:        Executive VP / CFO
      --------------------------------------
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