MAYTAG CORPORATION
Exhibit 4(j)
Fourth Amendment to Credit Agreement Dated as of April 26, 1999 among
Registrant, the banks Party Hereto and Bank of Montreal, Chicago Branch as
Agent and Royal Bank of Canada as Co-Agent.
Fourth Amendment to Credit Agreement
This Fourth Amendment to Credit Agreement (the Amendment) dated as of
April 26, 1999 by and among Maytag Corporation (the Borrower), the Banks
listed below, and Bank of Montreal as Agent;
w i t n e s s e t h:
Whereas, the Borrower, the Banks, the Co-Agent and the Agent have
heretofore executed and delivered a Credit Agreement dated as of July 28,
1995 (as amended through the Third Amendment thereto dated as of June 10,
1997, the Credit Agreement); and whereas, the Borrower, the Banks and the
Agent desire to amend the Credit Agreement as set forth herein;
Now, Therefore, for good and valuable consideration the receipt of which is
hereby acknowledged, the Borrower, the Banks and the Agent hereby agree as
follows:
1. The definition of Eurocurrency Margin contained in Section 1.2(b)
of the Credit Agreement is hereby amended in its entirety to read as
follows: Eurocurrency Margin means for each Eurocurrency Loan: (i) 0.170%
per annum for any day Level I Status exists, (ii) 0.300% per annum for any
day Level II Status exists, (iii) 0.375% per annum for any day Level III
Status exists, (iv) 0.625% per annum for any day Level IV Status exists and
(v) 1.125% per annum for any day Level V Status exists.
2. The first sentence of Section 3.1 of the Credit Agreement is hereby
amended in its entirety to read as follows: The Borrower shall pay to the
Agent for the ratable account of the Banks, based on their Commitments, a
facility fee (computed on the basis of a year of 365 or 366 days, as the
case may be, and the actual number of days elapsed) on the average daily
amount of the Commitments hereunder (whether used or unused) at a rate of
(i) 0.085% per annum for each day Level I Status exists, (ii) 0.100% per
annum for each day Level II Status exists, (iii) 0.125% per annum for each
day Level III Status exists, (iv) 0.250% per annum for each day Level IV
Status exists, and (v) 0.350% per annum for each day Level V Status exists.
3. Section 3.2 of the Credit Agreement is hereby amended by deleting
the phrase 1/10th of 1% (0.10%) per annum appearing in the third and fourth
lines thereof and inserting in its place: 1/8th of 1% (0.125%) per annum.
4. Section 8.6 of the Credit Agreement is hereby amended by deleting
the number 0.60 at the end thereof and inserting in its place the number
0.65.
5. Section 8.7 of the Credit Agreement is hereby amended by deleting
the ratio 2.5 to 1.0 at the end thereof and inserting in its place the
ratio 3.5 to 1.0.
6. The Borrower represents and warrants to each Bank that (a) each of
the representations and warranties set forth in Section 6 of the Credit
Agreement, as amended hereby, is true and correct on and as of the date of
this Amendment (except that any such representation or warranty that
expressly relates solely to an earlier date need only be true and correct
as of such date) as if made on and as of the date of this Amendment and as
if each reference therein to the Credit Agreement referred to the Credit
Agreement as amended hereby, (b) no Default or Event of Default has
occurred and is continuing and (c) without limiting the effect of the
foregoing, the Borrower s execution, delivery and performance of this
Amendment has been duly authorized, and this Amendment has been executed
and delivered by a duly authorized officer of the Borrower.
7. This Amendment may be executed in any number of counterparts and by
different parties hereto on separate counterparts, each of which when so
executed shall be an original but all of which shall constitute one and the
same instrument. This Amendment shall become effective on the date hereof
upon the Agent s receipt of counterparts hereof executed by the Borrower
and the Required Banks. Except as specifically amended and modified
hereby, all of the terms and conditions of the Credit Agreement shall
remain unchanged and in full force and effect. No reference to this
Amendment need be made in any document making reference to the Credit
Agreement, any such reference to the Credit Agreement (including any such
reference herein, unless the context otherwise requires) to be deemed to be
a reference to the Credit Agreement as amended hereby. All capitalized
terms used herein without definition shall have the same meanings herein as
they have in the Credit Agreement. This Amendment shall be construed and
governed by and in accordance with the laws of the State of Illinois.
Dated as of the date first above written.
Maytag Corporation
By
Name
Title
Bank of Montreal, Chicago Branch, in its
individual capacity as a Bank and as
Agent
By
Name
Title
Royal Bank of Canada, in its individual
capacity as a Bank and as Co-Agent
By
Name
Title
The First National Bank of Chicago
By
Name
Title
The Fuji Bank, Limited
By
Name
Title
KeyBank National Association
By
Name
Title
PNC Bank, National Association
By
Name
Title
The Sumitomo Bank, Limited, Chicago Branch
By
Name
Title
Westdeutsche Landesbank Girozentrale,
New York Branch
By
Name
Title
Mercantile Bank of St. Louis, N.A.
By
Name
Title
First American National Bank
By
Name
Title
Istituto Bancario San Paolo Di Torino
Istituto Mobiliare Italiano Spa
By
Name
Title
Banca di Roma, Chicago Branch
By
Name
Title
