EX-10.2 3 d81719ex10-2.txt FIRST AMENDMENT TO CREDIT AGREEMENT-SUIZA DAIRY 1 EXHIBIT 10.2 FIRST AMENDMENT TO CREDIT AGREEMENT THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is entered into as of June 30, 2000 among SUIZA DAIRY GROUP, L.P., f/k/a Suiza Fluid Dairy Group, L.P., a Delaware limited partnership (the "Parent Borrower"), SOUTHERN FOODS GROUP, L.P., a Delaware limited partnership (the "Subsidiary Borrower"), certain of the Domestic Subsidiaries of the Parent Borrower (individually a "Guarantor" and collectively the "Guarantors"; the Guarantors, together with the Parent Borrower and the Subsidiary Borrower, individually a "Credit Party" and collectively the "Credit Parties"), FIRST UNION NATIONAL BANK, as Administrative Agent (the "Administrative Agent") for the lenders party to the Credit Agreement defined below (the "Lenders"), BANK ONE, NA, as Syndication Agent for the Lenders (the "Syndication Agent"), BANK OF AMERICA, N.A. and FLEET NATIONAL BANK, as Co-Documentation Agents (the "Documentation Agents"), and the Lenders. RECITALS WHEREAS, the Parent Borrower, the Subsidiary Borrower, the Guarantors, the Administrative Agent, the Syndication Agent, the Documentation Agents and the Lenders are parties to that certain Credit Agreement dated as of January 4, 2000 (the "Credit Agreement"), which provides for the making of revolving loans, term loans and other financial accommodations to the Borrower and the Subsidiary Borrower; WHEREAS, the Parent Borrower has requested that the Subsidiary Borrower no longer be treated as a separate borrower under the Credit Agreement, that the Parent Borrower assume all obligations of the Subsidiary Borrower under the Credit Agreement, that the Subsidiary Borrower guarantee all Credit Party Obligations and that the Lenders make certain other changes to the Credit Agreement; and WHEREAS, the parties hereto have agreed to amend the Credit Agreement on the terms and subject to the conditions set forth in this Amendment. NOW, THEREFORE, the parties hereto hereby agree as follows: Section 1. Definitions. Except as otherwise defined in this Amendment, terms defined in the Credit Agreement are used herein as defined therein. Section 2. Amendments to Credit Agreement and Schedules Thereto. Subject to the satisfaction of the conditions precedent set forth in Section 5 hereof, the Lenders hereby agree that the Credit Agreement shall be amended as follows: 2 A. From and after the Effective Date (as defined below), the Credit Agreement is amended in its entirety to read in the form of such Credit Agreement attached hereto as Exhibit A to this Amendment. B. From and after the Effective Date, the Subsidiary Borrower shall no longer be a Borrower, but shall be a Guarantor under the Credit Documents. C. As of the Effective Date, Schedules 2.1(a), 2.1(d), 2.3(c), 2.4(c), 2.5(d), 3.6, 3.12, 3.19 and 6.1(b) to the Credit Agreement are replaced by the revised Schedules 2.1(a), 2.1(d), 2.3(c), 2.4(c), 2.5(d), 3.6, 3.12, 3.19 and 6.1(b) attached to this Amendment. D. As of the Effective Date, Schedule 2.2(d) to the Credit Agreement is deleted in its entirety. E. References in the Credit Agreement (including references to such Credit Agreement as amended hereby) to "this Agreement" (and indirect references such as "hereunder", "hereby", "herein", and "hereof") shall be deemed to be references to the Credit Agreement as amended hereby. Section 3. Representations and Warranties. The Credit Parties hereby represent and warrant to the Administrative Agent and the Lenders that (i) the representations and warranties in Article 3 of the Credit Agreement (as amended hereby) are true and correct on the date hereof as if made on and as of the date hereof as if each reference (whether direct or indirect) therein to "this Agreement" included reference to this Amendment and the Credit Agreement as amended hereby and (ii) no Default or Event of Default has occurred and is continuing as of the date hereof. Section 4. Guarantors. Each of the Guarantors (including the Subsidiary Borrower) (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) affirms all of its obligations under the Credit Documents and (iii) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge such Guarantor's obligations under the Credit Agreement or the other Credit Documents. Section 5. Conditions Precedent. The amendments to the Credit Agreement set forth in Section 2 shall become effective as of June 30, 2000 upon the satisfaction of each of the following conditions (the "Effective Date"): A. The Administrative Agent shall have received an executed counterpart to this Amendment from the Borrower, the Guarantors and the Required Lenders. B. The Administrative Agent shall have received, for each applicable Lender, an executed Revolving Note, Term A Note, Term A2 Note and Swingline Note. C. The Administrative Agent shall have received a Joinder Agreement duly executed by the Subsidiary Borrower. 2 3 Section 6. Miscellaneous. Except as expressly provided herein, the Credit Agreement shall remain unmodified and in full force and effect. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Amendment by signing any such counterpart. This Amendment shall be governed by, and construed in accordance with, the law of the State of North Carolina. 3 4 IN WITNESS WHEREOF, each of the parties hereto have caused this Amendment to be duly executed and delivered by its proper and duly authorized officers as of the day and year first above written. PARENT BORROWER: SUIZA DAIRY GROUP, L.P., a Delaware limited partnership By: Suiza Dairy Group GP, LLC By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- SUBSIDIARY BORROWER: SOUTHERN FOODS GROUP, L.P., a Delaware limited partnership By: SFG MANAGEMENT LIMITED LIABILITY COMPANY By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 5 GUARANTORS: SFG MANAGEMENT LIMITED LIABILITY COMPANY SUIZA SOUTHEAST, LLC BROUGHTON FOODS, LLC LAND-O-SUN DAIRIES, LLC COUNTRY DELITE FARMS, LLC DAIRY FRESH, LLC LOUIS TRAUTH DAIRY, LLC VELDA FARMS, LLC SUIZA GTL, LLC NEW ENGLAND DAIRIES, LLC TUSCAN/LEHIGH MANAGEMENT, L.L.C. SUIZA SOUTHWEST, LLC (fka Suiza West, LLC) ROBINSON DAIRY, LLC MODEL DAIRY, LLC SUIZA SOCAL, LLC COUNTRY FRESH, LLC OBERLIN FARMS DAIRY, LLC LONDON'S FARM DAIRY, LLC CF BURGER DAIRY, LLC By: -------------------------------------------- Name: ------------------------------------------ Title: of each of the foregoing ----------------- limited liability companies 6 SOUTHERN FOODS GROUP, L.P., a Delaware limited partnership By: SFG MANAGEMENT LIMITED LIABILITY COMPANY By: --------------------------------------- Name: ------------------------------------- Title: ------------------------------------ TUSCAN/LEHIGH DAIRIES, L.P. By: TUSCAN/LEHIGH MANAGEMENT, L.L.C. its general partner By: --------------------------------------- Name: ------------------------------------- Title: ------------------------------------ SFG CAPITAL CORPORATION By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 7 FIRST UNION NATIONAL BANK, in its capacity as Administrative Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 8 BANK ONE, NA, in its capacity as Syndication Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 9 BANK OF AMERICA, N.A., in its capacity as Documentation Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 10 FLEET NATIONAL BANK, in its capacity as Documentation Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 11 COBANK, ACB, in its capacity as Managing Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 12 CREDIT AGRICOLE INDOSUEZ, in its capacity as Managing Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 13 COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A. "RABOBANK NEDERLAND", NEW YORK BRANCH, in its capacity as Managing Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 14 THE INDUSTRIAL BANK OF JAPAN, LIMITED, in its capacity as Managing Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 15 WELLS FARGO BANK (TEXAS), N.A., in its capacity as Managing Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 16 BANCO POPULAR DE PUERTO RICO, in its capacity as Co-Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 17 BANCO POPULAR NORTH AMERICA, in its capacity as Co-Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 18 THE BANK OF TOKYO-MITSUBISHI, LTD., in its capacity as Co-Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 19 THE BANK OF NOVA SCOTIA, in its capacity as Co-Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 20 GUARANTY FEDERAL BANK, F.S.B. in its capacity as Co-Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 21 SUNTRUST BANK, ATLANTA, in its capacity as Co-Agent and individually in its capacity as a Lender By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 22 HARRIS TRUST AND SAVINGS BANK By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 23 BANK AUSTRIA CREDITANSTALT CORPORATE FINANCE, INC. By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 24 CREDIT INDUSTRIEL ET COMMERCIAL By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 25 U.S. BANCORP AG CREDIT, INC. By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 26 BANK HAPOALIM B.M. By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 27 THE BANK OF NEW YORK By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 28 BANQUE NATIONALE DE PARIS By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 29 THE CHASE MANHATTAN BANK By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 30 CREDIT LYONNAIS NEW YORK BRANCH By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 31 THE DAI-ICHI KANGYO BANK, LTD., CHICAGO BRANCH By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 32 THE MITSUBISHI TRUST & BANKING CORPORATION By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 33 NATIONAL CITY BANK OF KENTUCKY By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 34 THE SANWA BANK, LIMITED, NEW YORK BRANCH By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 35 THE FUJI BANK, LIMITED By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 36 THE SAKURA BANK, LIMITED By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 37 MERCANTILE BANK NATIONAL ASSOCIATION By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 38 BANK OF HAWAII By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 39 ERSTE BANK DER OESTERREICHISCHEN SPARKASSEN AG By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 40 MICHIGAN NATIONAL BANK By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 41 RZB FINANCE LLC By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- 42 NATEXIS BANQUES POPULAIRES By: -------------------------------------------- Name: ------------------------------------------ Title: ----------------------------------------- By: -------------------------------------------- Name: ------------------------------------------ Title: -----------------------------------------