GMCR » Topics » AMENDMENTS TO CREDIT AGREEMENT

These excerpts taken from the GMCR 10-K filed Dec 11, 2008.

AMENDMENTS TO CREDIT AGREEMENT

Effective as of July 18, 2008 (herein the “Modification Date”), the Credit Agreement is amended as follows:

(a) Loan Documents. Each reference in any Loan Document to the Credit Agreement shall be deemed to mean and include this Amendment No. 1. This Amendment No. 1 shall be deemed a Loan Document for all purposes under the Credit Agreement.

(b) Obligations. The term “Obligations” shall, wherever used in the Credit Agreement or any of the other Loan Documents, be deemed to also mean and include all obligations of the Borrower to the Agent and the Lenders under or in respect of this Amendment No. 1.

(c) Capital Expenditures. Section 6.12(d) of the Agreement is amended to read in its entirety as follows:

“(d) Capital Expenditures. The Borrower Affiliated Group shall not spend or incur obligations (including the total amount of any capital leases) to acquire fixed assets, in the aggregate, in any fiscal year identified below, in excess of the amount specified below opposite such fiscal year, plus up to $15,000,000 of the unused amount available for Capital Expenditures under this Section 6.12(d) for the preceding fiscal year (determined on a first-in, first-out basis so that the unused amount carried forward is deemed to be utilized first):

 

Period

   Amount

Fiscal Year 2008 and each fiscal year thereafter

   $ 60,000,000”

 

2


AMENDMENTS TO CREDIT AGREEMENT

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Effective as of July 18, 2008 (herein the “Modification Date”), the Credit Agreement is amended as follows:

STYLE="margin-top:6px;margin-bottom:0px; margin-left:4%; text-indent:4%">(a) Loan Documents. Each reference in any Loan Document to the Credit Agreement shall be deemed to mean and include this Amendment
No. 1. This Amendment No. 1 shall be deemed a Loan Document for all purposes under the Credit Agreement.

(b)
Obligations. The term “Obligations” shall, wherever used in the Credit Agreement or any of the other Loan Documents, be deemed to also mean and include all obligations of the Borrower to the Agent and the Lenders under or in respect
of this Amendment No. 1.

(c) Capital Expenditures. Section 6.12(d) of the Agreement is amended to read in
its entirety as follows:

“(d) Capital Expenditures. The Borrower Affiliated Group shall not spend or incur
obligations (including the total amount of any capital leases) to acquire fixed assets, in the aggregate, in any fiscal year identified below, in excess of the amount specified below opposite such fiscal year, plus up to $15,000,000 of the unused
amount available for Capital Expenditures under this Section 6.12(d) for the preceding fiscal year (determined on a first-in, first-out basis so that the unused amount carried forward is deemed to be utilized first):

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 


















Period

  Amount

Fiscal Year 2008 and each fiscal year thereafter

  $60,000,000”

 


2








EXCERPTS ON THIS PAGE:

10-K (2 sections)
Dec 11, 2008

"AMENDMENTS TO CREDIT AGREEMENT" elsewhere:

Seneca Foods (SENEA)
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