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Exhibit 4(f)
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Second Amendment and Consent
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SCOTTS
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SECOND AMENDMENT AND CONSENT
SECOND AMENDMENT AND CONSENT, dated as of November 12, 1997, to the
Fourth Amended and Restated Credit Agreement, dated as of March 17, 1995, as
amended (the "Credit Agreement"), among The Scotts Company, an Ohio corporation
(the "Borrower" or "Scotts"), Scotts Holdings Limited, a foreign subsidiary of
Scotts, the several banks and other financial institutions from time to time
parties to this Agreement (individually, a "Lender" and, collectively, the
"Lenders") and The Chase Manhattan Bank, a New York banking corporation
("Chase"), as agent for the Lenders thereunder (in such capacity, the "Agent").
W I T N E S S E T H:
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WHEREAS, the Borrower has requested that the Agent and the Lenders
enter into this Amendment to among other things, increase the Revolving Credit
Loans available in Sterling by $100 million to $200 million, and to allow Scotts
Holdings Limited, a subsidiary of the Borrower, to become a U.K. Borrower as set
forth herein; and
NOW, THEREFORE, in consideration of the promises and for other good and
valuable consideration the receipt and sufficiency of which is hereby
acknowledged, the parties hereto hereby agree as follows:
1. Defined Terms. Unless otherwise defined herein, all capitalized
terms defined in the Credit Agreement as amended hereby and used herein are so
used as so defined.
2. Amendments to Subsection 1.1. (a) Subsection 1.1 of the Credit
Agreement is hereby amended by inserting therein the following new definitions
in proper alphabetical order:
"Second Amendment" shall mean this Second Amendment and
Consent, as the same may be amended, modified or otherwise supplemented
from time to time.
"Second Amendment Effective Date" shall mean November 12,
1997.
(b) Subsection 1.1 of the Credit Agreement is further amended by
deleting the definition of "U.K. Borrowers" and substituting in lieu thereof the
following new definition:
"U.K. Borrowers" shall mean X.X. Xxxxx International
Investments Limited, Miracle Garden Care Limited and, on and after the
date it becomes a party hereto, Scotts Holdings Limited.
3. Amendment to Subsection 2.1(a). Subsection 2.1(a) of the Credit
Agreement is hereby amended by deleting the reference
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to $100 million therein and inserting in lieu thereof $200 million.
4. Amendment to Subsection 2.2(b)(iii). Subsection 2.2(b)(iii) of the
Credit Agreement Amendment and Consent is hereby amended by deleting the words
"(pound sterling)3,000,000 or a whole multiple of (pound sterling)1,000,000 in
excess thereof" therein and inserting in lieu thereof "(pound sterling)1,000,000
or a whole multiple thereof".
5. Consent to Acquisition of Levington. Each of the Agent and the
Lenders hereby consents to the acquisition by the Borrower or Scotts Holdings
Limited of the outstanding shares of Levington Group Limited and agrees that
such acquisition shall not violate subsection 7.4 of the Credit Agreement and
shall not constitute usage of any of the permitted baskets therein.
6. Consent to Acquisition of Earthgro. Each of the Agent and the
Lenders further hereby consents to the acquisition by the Borrower or a
Subsidiary of the Borrower, of all or substantially all of the assets of
Earthgro, Inc. and agrees that such acquisition shall not violate subsection 7.4
or 7.6 of the Credit Agreement and shall not constitute usage of any of the
permitted baskets therein.
7. Effectiveness. The amendments and content provided for herein shall
become effective on November 12, 1997 (the "Second Amendment Effective Date"),
provided that the following conditions precedent have been satisfied on or
before such date:
(a) the Agent shall have received counterparts of this Second
Amendment, duly executed and delivered by all the parties listed on the
signature pages hereto;
(b) the Agent shall have received satisfactory opinions of (i)
Macfarlanes, U.K. counsel to Scotts Holdings Limited and (ii) Vorys,
Xxxxx, Xxxxxxx and Xxxxx, counsel to Scotts.
(c) the Agent shall have received an acknowledgment by each of
the Subsidiary Guarantors that the obligations guaranteed by it under
the Subsidiaries Guarantee include all amounts guaranteed by the
Borrower under the Scotts Guarantee and all obligations of the U.K.
Borrowers under the Credit Agreement as amended hereby.
(d) the Agent shall have received a copy of the resolutions,
in form and substance satisfactory to the Agent, of the Board of
Directors of Scotts Holdings Limited authorizing the execution and
delivery of this Second Amendment, certified by the Secretary or an
Assistant Secretary of Scotts Holdings Limited, as the case may be, as
of the Second Amendment Effective Date, which certificate shall state
that the resolutions thereby certified have not been amended, modified,
revoked and rescinded since the date of adoption thereof.
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8. Representations and Warranties. The Borrower hereby represents and
warrants as of the date hereof that after giving effect to this Second Amendment
(a) each of the representations and warranties made by the Borrower in or
pursuant to Section 4 of the Credit Agreement shall be true and correct on and
as of such date as if made on and as of such date and (b) no Default or Event of
Default shall have occurred and be continuing.
9. Limited Amendment. Except as expressly amended hereby, all the
provisions of the Credit Agreement and the other Loan Documents are hereby
affirmed and shall continue to be in full force and effect in accordance with
their terms, and any amendments contained herein shall be limited precisely as
drafted and shall not constitute an amendment of any terms or provisions of the
Credit Agreement except as expressly provided herein. Scotts hereby acknowledges
that the obligations guaranteed by it under the Scotts Guarantee includes all
amounts owing by Scotts Holdings Limited and the other U.K. Borrowers under the
Credit Agreement as amended hereby.
10. U.K. Borrower. By executing and delivering this Second Amendment,
Scotts Holdings Limited shall become party to the Credit Agreement and entitled
to the rights and subject to the liabilities and duties provided for it in the
Credit Agreement as amended hereby, without any further action being necessary.
11. Counterparts. This Second Amendment may be executed by the parties
hereto in any number of counterparts, and all of such counterparts taken
together shall be deemed to constitute one and the same instrument.
12. GOVERNING LAW. THIS SECOND AMENDMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
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IN WITNESS WHEREOF, the parties hereto have caused this amendment to be
duly executed and delivered in New York by their proper and duly authorized
officers as of the day and year first above written.
SCOTTS HOLDINGS LIMITED THE SCOTTS COMPANY
By: /s/ Xxxxxxx Xxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: Director Title: Chairman, President and
Chief Executive Officer
THE CHASE MANHATTAN BANK (formerly
Chemical Bank), as Agent and as
a Bank
By: /s/ Xxxxxxx X. Xxxxxx
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Title: Managing Director
BANK ONE, N.A.
By: /s/ Xxxxxxx X. Xxxxxxxx
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Title: Vice President
COMERICA BANK
By: /s/ Xxx X. Xxxxxxxx
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Title: First Vice President
CREDIT LYONNAIS
By: /s/ Xxxx Xxx Xxxxx
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Title: Vice President
NATIONAL CITY BANK, COLUMBUS
By: /s/ Xxxxx X. Xxxxx
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Title: Vice President
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PNC BANK, OHIO, NATIONAL
ASSOCIATION
By: /s/ Xxxx X. Xxx
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Title: Assistant Vice President
KEY BANK
By: /s/ Xxxx X. Xxxxx
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Title: Vice President
THE BANK OF NOVA SCOTIA
By: /s/ F.C.H. Xxxxx
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Title: Senior Manager, Loan
Operations
NBD BANK
By: /s/ Xxxxxx X. Xxxxxxx
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Title: First Vice President
SOCIETE GENERALE
By: /s/ Xxxxxx X. Xxxxxxx
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Title: Vice President
THE BANK OF TOKYO MITSUBISHI TRUST CO.
By: /s/ Xxxxxxxx X. Xxxxx
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Title: Vice President
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XXXXX XXXX XX XXXXXXXXXX, N.A.
By: /s/ Xxxxx X. Xxxxxxxxxx
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Title: Vice President
THE NORTHERN TRUST COMPANY
By: /s/ Xxxxx F.T. Xxxxxxx
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Title: Vice President
ROYAL BANK OF SCOTLAND
By: /s/ Xxxxxxx X. Xxxxxx
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Title: Vice President & Deputy
Director
THE SANWA BANK, LIMITED, CHICAGO
BRANCH
By: /s/ Xxxxx X. Xxxxxx
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Title: First Vice President
THE TOKAI BANK, LIMITED
By: /s/ Xxxxxxxx Xxxxxxxx
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Title: Joint General Manager
WACHOVIA CORPORATE SERVICES
By: /s/ Xxxxxxx X. Xxxxx
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Title: Vice President
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Each of the undersigned Guarantors hereby acknowledge that the
obligations guaranteed by it under the Subsidiaries Guarantee dated as of March
17, 1995 include all amounts guaranteed by the Borrower under the Scotts
Guarantee and all obligations of the U.K. Borrowers under the Credit Agreement
as amended by the foregoing Second Amendment and Consent.
SCOTTS-SIERRA HORTICULTURAL PRODUCTS COMPANY
By: /s/ Xxxxxxx X. Xxxxxx
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Title: President
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Address for Notices:
00000 Xxxxxxxxxx Xxxx
Xxxxxxxxxx, Xxxx 00000
Fax: (000) 000-0000
SCOTTS-SIERRA CROP PROTECTION COMPANY
By: /s/ Xxxxxxx X. Xxxxxx
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Title: President
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Address for Notices:
00000 Xxxxxxxxxx Xxxx
Xxxxxxxxxx, Xxxx 00000
Fax: (000) 000-0000
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OMS INVESTMENTS, INC.
By: /s/ G. Xxxxxx Xxxxx
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Title: Secretary
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Address for Notices:
0000 Xxxxx Xxxxxx Xxxxxx
Xxxxxxxxxx, Xxxxxxxx 00000
Fax: (000) 000-0000
REPUBLIC TOOL & MANUFACTURING CORP.
By: /s/ Xxxxxxx X. Xxxxxx
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Title: President
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Address for Notices:
0000 Xxxxx xxx Xxxxx
Xxxxxxxx, Xxxxxxxxxx 00000
Fax: (000) 000-0000
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SCOTTS GRASS CO. SCOTTS WEED CONTROL CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS ENERGY CO. SCOTTS GOLF CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS GREEN LAWNS CO. SCOTTS GARDEN CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS SOD CO. SCOTTS DESIGN CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS PESTICIDE CO. SCOTTS TECH REP CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS PLANT CO. SCOTTS BROAD LEAF CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS INSECTICIDE CO. SCOTTS SPREADER CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS IMPROVEMENT CO. OLD FORT FINANCIAL CORP.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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HYPONEX CORPORATION
Hyponex Corporation as successor to the following corporations pursuant to
merger documents effective September 1995: Hyponex Corporation-California;
Hyponex Corporation-Colorado; Hyponex Corporation-Florida; Hyponex
Corporation-Texas; Bunyon Enterprises, Inc.; The Hyponex Company, Inc.;
Hyper-Humus Company, Inc.
By: /s/ Xxxxxxx X. Xxxxxx
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Title: President
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Address for Notices:
00000 Xxxxxxxxxx Xxxx
Xxxxxxxxxx, Xxxx 00000
Fax: (000) 000-0000
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XXXXXX XXXX XX. XXXXXX SERVICE CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS PRODUCTS CO. SCOTTS FERTILIZER CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS PARK CO. SCOTTS PROFESSIONAL PRODUCTS CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS TURF CO. SCOTTS BEST LAWNS CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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SCOTTS CONTROL CO. SCOTTS PROTURF CO.
By: /s/ Xxxxxxx X. Xxxxxx By: /s/ Xxxxxxx X. Xxxxxx
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Title: President Title: President
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(1) Lending Offices; Addresses for Notice
THE CHASE MANHATTAN BANK
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00 X. XxXxxxx Xxxxxx, 00xx Xx.
Xxxxxxx, XX 00000
Attn.: Xxxxxxx Xxxxx
Managing Director
Telephone: 000-000-0000
Fax: 000-000-0000
With a copy to:
Xxxxxxxx Xxxxxx
Associate
Telephone: 000-000-0000
Fax: 000-000-0000
BANK ONE, N.A.
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Corporate Banking
OHI-0209
X.X.Xxx 710209
Xxxxxxxx, XX 00000-0000
Attn.: Xxxxxxx X. Xxxxxxxx
Vice President
Corporate Banking
Telephone: 000-000-0000
Fax: 000-000-0000
COMERICA BANK
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000 Xxxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxxx 00000-0000
Attn.: Xxxxxxx X. Xxxxx
Acct. Representative
Telephone: 000-000-0000
Fax: 000-000-0000
CREDIT LYONNAIS
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000 Xxxx Xxxxxx Xxxxxx
Xxxxxxx, Xxxxxxxx 00000-0000
Attn.: Xxxxx Xxxxx
Vice President
Telephone: 000-000-0000
Fax: 000-000-0000
With a copy to:
Same address.
Attn.: Xxxx Xxx Xxxxx
Vice President, Corporate Group Head
Telephone: 000-000-0000
Fax: 000-000-0000
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Same address
Attn.: Xxxx X. Xxxxx, CFA
Vice President
Telephone: 000-000-0000
Fax: 000-000-0000
NATIONAL CITY BANK
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000 Xxxx Xxxxx Xxxxxx
Xxxxxxxx, XX 00000-0000
Attn.: Xxxxx Xxxxx
Vice President
Regional Manager, Regional Banking
Telephone: 000-000-0000
Fax: 000-000-0000
NBD BANK
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000 Xxxxx Xxxx
Xxxxxxxx Xxxxx, XX 00000
Attn.: Xxxxxx X. Xxxxxxx
First Vice President
Telephone: 000-000-0000
Fax: 000-000-0000
NORTHERN TRUST COMPANY
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00 Xxxxx XxXxxxx Xxxxxx
Xxxxxxx, XX 00000
Attn.: Xxxxxx Xxxxxx
Commercial Banking Officer
Telephone: 000-000-0000
Fax: 000-000-0000
PNC BANK, OHIO, N.A.
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National Corporate Banking
000 Xxxx Xxxxx Xxxxxx
X.X. Xxx 0000
Xxxxxxxxxx, XX 00000-0000
Attn.: Xxxx Xxx
Senior Vice President
Telephone: 000-000-0000
Fax: 000-000-0000
SOCIETE GENERALE
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000 Xxxx Xxxxxxx Xxxxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attn.: Xxxxxx Xxxxxxx
Vice President
Telephone: 000-000-0000
Fax: 000-000-0000
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KEY BANK
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Mailcode: OH-01-27-0606
000 Xxxxxx Xxxxxx
Xxxxxxxxx, XX 00000-0000
Attn.: Xxxxxxx Xxxxxx
Vice President
Portfolio Management
Large Corporate
Telephone: 000-000-0000
Fax: 000-000-0000
With a copy to:
000 Xxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Attn.: Xxxxx X. Xxxxxxxxx
Vice President/Senior Banker
Corporate Banking
Telephone: 000-000-0000
Fax: 000-000-0000
THE BANK OF NOVA SCOTIA
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000 Xxxx Xxxxxxx Xxxxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attn.: Xxxxx X. Xxxxxxxxxxxxxx
Telephone: 000-000-0000
Fax: 000-000-0000
THE BANK OF TOKYO MITSUBISHI TRUST COMPANY
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0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000-0000
Attn.: Xxxxxxxx X. Xxxxx
Vice President, Marketing Dept. 1
Telephone: 000-000-0000
Fax: 000-000-0000
THE ROYAL BANK OF SCOTLAND
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00 Xxxx Xxxxxx, 00xx xxxxx
Xxx Xxxx, XX 00000-0000
Attn.: Xxxxxxx Xxxxxx
Vice President and Deputy Manager
Telephone: 000-000-0000
Fax: 000-000-0000
THE SANWA BANK LTD.
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000 Xxxxxx Xxxxxx
BP American Building
29th Floor-Suite 3400
Xxxxxxxxx, XX 00000-0000
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Attn.: Xxxxx X. Xxxxxx
First Vice President and Representative
Telephone: 000-000-0000
Fax: 000-000-0000
THE TOKAI BANK, LIMITED
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000 Xxxx Xxxxxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attn.: Xxxxxxx X. Xxxxxx
Corporate Banking Officer
Telephone: 000-000-0000
Fax: 000-000-0000
UNION BANK OF CALIFORNIA, N.A.
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000 Xxxxxxxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxxxxxxx, XX 00000-0000
Attn.: Xxxx Xxxxxxxx
Vice President
Telephone: 000-000-0000
Fax: 000-000-0000
WACHOVIA CORPORATE SERVICES
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00 Xxxxxxxxx Xxxxxx, X.X.
Xxxxxxx, XX 00000
Attn.: Xxxxxxx X. Xxxxx
Vice President
Telephone: 000-000-0000
Fax: 000-000-0000
