Annual Report — [x] Reg. S-K Item 405 — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K405 Cannondale Corporation 59 378K
2: EX-4.2 1994 Stock Option Plan as Amended February 5, 1998 16 61K
3: EX-4.3 1994 Management Stock Option Plan as Amended 12 51K
4: EX-4.4 1995 Stock Option Plan as Amended February 5, 1998 19 63K
5: EX-4.5 1996 Stock Option Plan as Amended February 5, 1998 17 63K
6: EX-10.1.12 Second Amendment to Credit Agreement 5 20K
7: EX-10.1.13 Third Amendment to Credit Agreement 7 26K
8: EX-10.1.14 Fourth Amendment to Credit Agreement 6 22K
9: EX-21 Subsidiaries of the Registrant 1 6K
10: EX-23 Consent of Independent Auditors 1 7K
11: EX-27.A Financial Data Schedule for Year Ended 6/29/1996 1 8K
12: EX-27.B Financial Data Schedule for Year Ended 6/28/1997 1 8K
13: EX-27.C Financial Data Schedule for Year Ended 6/27/1998 1 8K
Exhibit 10.1.14
FOURTH AMENDMENT TO CREDIT AGREEMENT
FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of June 25,
1998 (this "Amendment"), by and among CANNONDALE CORPORATION, a corporation
organized under the laws of the State of Delaware ("Cannondale"); each of the
Subsidiaries of Cannondale which is a signatory to the Credit Agreement (as
defined below) (the Subsidiaries of Cannondale, together with Cannondale, the
"Borrowers"); NATIONSBANK, N.A., a national banking association organized under
the laws of the United States of America ("NationsBank"); FLEET NATIONAL BANK, a
national banking association organized under the laws of the United States of
America ("Fleet"); THE CHASE MANHATTAN BANK, a bank organized under the laws of
New York ("Chase"); STATE STREET BANK AND TRUST COMPANY, a trust company
organized under the laws of Massachusetts ("State Street") (each of NationsBank,
Fleet, Chase and State Street may be referred to individually as a "Bank" and
collectively as the "Banks"); and NATIONSBANK as administrative agent for the
Banks (in such capacity, together with its successors in such capacity, the
"Administrative Agent").
Background
A. Reference is made to that certain Credit Agreement dated as of June
9, 1997 (the "Credit Agreement"), among the Borrowers, the Administrative Agent,
NationsBank, Fleet, and the other parties signatory thereto.
B. The Credit Agreement was amended by the First Amendment To Credit
Agreement dated as of October 14, 1997 (the "First Amendment"), among the
Borrowers, the Administrative Agent, the Banks, and the other parties signatory
thereto.
C. The Credit Agreement was further amended by the Second Amendment To
Credit Agreement dated as of April 15, 1998 (the "Second Amendment"), among the
Borrowers, the Administrative Agent, the Banks, and the other parties signatory
thereto.
D. The Credit Agreement was further amended by the Third Amendment To
Credit Agreement dated as of May 29, 1998 (the "Third Amendment"), among the
Borrowers, the Administrative Agent, the Banks, and the other parties signatory
thereto.
E. The parties hereto wish to further amend the Credit Agreement as
herein provided.
F. Capitalized terms not otherwise defined shall have the meanings
ascribed to them in the Credit Agreement, as amended by the First Amendment, the
Second Amendment, the Third Amendment, and as amended hereby.
2
Agreement
In consideration of the Background, which is incorporated by reference,
the parties hereto, intending to be legally bound, hereby agree as follows:
1. Modification. All the terms and provisions of the Credit Agreement
and the other Facility Documents, as amended to date, shall remain in full force
and effect except as follows:
Clause (f) of Section 8.5 of the Credit Agreement is deleted
and the following is substituted therefor:
(f) loans to employees of such Borrower or any Subsidiary
that, together with all such loans to employees made by all
Borrowers and their Subsidiaries, do not exceed an aggregate
principal amount of $13,500,000 outstanding at any one time.
2. Conditions to effectiveness. This Amendment shall not be effective
until such date as the Administrative Agent shall have received the following,
all in form, scope, and content acceptable to the Administrative Agent and
Lenders in their sole discretion:
(a) This Amendment, executed by the Borrowers and the Required
Banks; and
(b) Such other agreements and instruments as the
Administrative Agent shall reasonably require.
3. Reaffirmation by the Borrowers. Each of the Borrowers acknowledges,
agrees, and reaffirms, both prior to and after taking into account this
Amendment, that each is legally, validly, and enforceably indebted to the Banks
under the Notes without defense, counterclaim, or offset, and that each is
legally, validly, and enforceably liable to the Banks for all costs and expenses
of collection and reasonable attorneys' fees as and to the extent provided in
this Amendment, the Credit Agreement, the Notes, and the other Facility
Documents. Each of the Borrowers hereby restates and agrees to be bound by all
covenants contained in the Credit Agreement and the other Facility Documents and
hereby reaffirms that all of the representations and warranties contained in the
Credit Agreement and the other Facility Documents remain true and correct in all
material respects with the exception that the representations and warranties
regarding the financial statements described therein are deemed true as of the
date made. Each of the Borrowers represents that except as set forth in the
Credit Agreement and the other Facility Documents, there are neither pending,
nor to each Borrower's knowledge, threatened, legal proceedings to which any of
the Borrowers is a party that materially or adversely affect the transactions
contemplated by this Amendment or the ability of any of the Borrowers to conduct
its business on a consolidated basis. Cannondale and Cannondale Europe B.V. each
acknowledge and
3
represent that the resolutions of each dated May 28, 1997, and June 9, 1997,
respectively, remain in full force and effect and have not been amended,
modified, rescinded, or otherwise abrogated.
4. Reaffirmation re: Collateral. Cannondale reaffirms the liens,
security interests, and pledges granted to NationsBank, N.A., as Administrative
Agent, for the benefit of the Banks pursuant to the Credit Agreement and the
other Facility Documents to secure the obligations of each Borrower thereunder.
5. Other representations by the Borrowers. Each of the Borrowers
represents and confirms that: (a) no Default or Event of Default has occurred
and is continuing, and that neither the Agents nor the Banks has given its
consent to or waived any Default or Event of Default, and (b) the Credit
Agreement and the other Facility Documents are in full force and effect and
enforceable against the Borrowers in accordance with the terms thereof. Each of
the Borrowers represents and confirms that as of the date hereof, each has no
claim or defense (and each of the Borrowers hereby waives every claim and
defense as of the date hereof) against the Agents or the Banks arising out of or
relating to the Credit Agreement or the other Facility Documents or arising out
of or relating to the making, administration or enforcement of the Loans or the
remedies provided for under the Facility Documents.
6. No waiver by the Banks. Each of the Borrowers acknowledges that: (a)
the Banks, by execution of this Amendment, are not waiving any Default or Event
of Default, whether now existing or hereafter occurring, disclosed or
undisclosed, by the Borrowers under the Facility Documents, and (b) the Banks
reserve all rights and remedies available to them under the Facility Documents
and otherwise.
7. Miscellaneous.
(a) This Amendment may be executed by one or more of the
parties to this Amendment on any number of separate counterparts (including by
facsimile transmission), and all of said counterparts taken together shall be
deemed to constitute one and the same instrument.
(b) This Amendment and the rights and obligations of the
parties hereunder shall be governed by and construed in accordance with, the
laws of the State of New York.
(c) This Amendment shall be deemed a, and included in the
definition of, Facility Document under the Credit Agreement for all purposes.
4
(d) The Credit Agreement, as amended by the First Amendment,
the Second Amendment, the Third Amendment, and as amended hereby, and the other
Facility Documents remain in full force and effect in accordance with their
terms.
[The balance of this page left intentionally blank.
The next page is the signature page.]
5
IN WITNESS WHEREOF, the parties have executed this Amendment on the
date first written above.
BORROWERS
CANNONDALE CORPORATION
By /s/ WILLIAM A. LUCA
-----------------------------------------
Name: William A. Luca
Title: Vice President of Finance,
Chief Financial Officer
CANNONDALE EUROPE B.V.
By /s/ JORG HILFIKER
-----------------------------------------
Name: Jorg Hilfiker
Title: President
CANNONDALE JAPAN K.K.
By /s/ JEFFREY TURCK
-----------------------------------------
Name: Jeffrey Turck
Title: President
ADMINISTRATIVE AGENT
NATIONSBANK, N.A.
By /s/ SUSAN TIMMERMAN
----------------------------------------
Name: Susan Timmerman
Title: Vice President
| EX-10.1.14 | Last Page of 6 | TOC | 1st | Previous | Next | ↓Bottom | Just 6th |
|---|
6
BANKS
NATIONSBANK, N.A.
By /s/ SUSAN TIMMERMAN
-----------------------------------------
Name: Susan Timmerman
Title: Vice President
FLEET NATIONAL BANK
By /s/ MARGARET D. HARWOOD
-----------------------------------------
Name: Margaret D. Harwood
Title: Vice President
THE CHASE MANHATTAN BANK
By /s/ ALAN ARIA
-----------------------------------------
Name: Alan Aria
Title: Vice President
STATE STREET BANK AND TRUST COMPANY
By /s/ ARLENE M. DOHERTY
-----------------------------------------
Name: Arlene M. Doherty
Title: Vice President
Dates Referenced Herein and Documents Incorporated by Reference
| Referenced-On Page |
|---|
| This ‘10-K405’ Filing | | Date | | First | | Last | | | Other Filings |
|---|
| |  |
| Filed on: | | 9/25/98 |
| For Period End: | | 6/27/98 |
| | 6/25/98 | | 1 |
| | 5/29/98 | | 1 |
| | 4/15/98 | | 1 |
| | 10/14/97 | | 1 | | | | | DEF 14A |
| | 6/9/97 | | 1 | | 3 |
| | 5/28/97 | | 3 |
| List all Filings |
↑Top
Filing Submission 0000950123-98-008534 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
About — Privacy — Redactions — Help —
Fri., May 17, 8:43:36.1am ET 