EX-10.1 2 a2028628zex-10_1.txt 1ST AMENDMENT 9/1/00 FIRST AMENDMENT FIRST AMENDMENT (this "Amendment"), dated as of September 11, 2000, among PACKAGING CORPORATION OF AMERICA, a Delaware corporation (the "BORROWER"), the various lenders party to the Credit Agreement referred to below (the "LENDERS"), J.P. MORGAN SECURITIES INC. and DEUTSCHE BANK SECURITIES INC., as Co-Lead Arrangers and Joint Book Runners (in such capacity, each a "CO-LEAD ARRANGER" and, collectively, the "CO-LEAD ARRANGERS"), DEUTSCHE BANK SECURITIES INC., as Syndication Agent (in such capacity, the "SYNDICATION AGENT"), GOLDMAN SACHS CREDIT PARTNERS L.P., as Documentation Agent (in such capacity, the "DOCUMENTATION AGENT") and MORGAN GUARANTY TRUST COMPANY OF NEW YORK, as Administrative Agent (in such capacity, the "ADMINISTRATIVE AGENT"). All capitalized terms used herein and not otherwise defined herein shall have the respective meanings provided such terms in the Credit Agreement (as defined below). W I T N E S S E T H: WHEREAS, the Borrower, the Lenders, the Co-Lead Arrangers, the Syndication Agent, the Documentation Agent and the Administrative Agent are party to an Amended and Restated Credit Agreement, dated as of June 29, 2000 (the "CREDIT AGREEMENT"); and WHEREAS, the Borrower and the undersigned Lenders wish to provide the amendment provided for herein; NOW, THEREFORE, it is agreed: 1. The definition of "AVAILABLE J.V. BASKET AMOUNT" is hereby amended by deleting the reference to "$25,000,000" contained therein and inserting "$50,000,000" in lieu thereof. 2. The Borrower hereby represents and warrants that (i) no Default or Event of Default exists as of the Amendment Effective Date (as defined below) after giving effect to this Amendment and (ii) on the Amendment Effective Date, both before and after giving effect to this Amendment, all representations and warranties (other than those representations made as of a specified date) contained in the Credit Agreement and in the other Credit Documents are true and correct in all material respects. 3. This Amendment shall become effective on the date (the "Amendment Effective Date") when the Required Lenders and the Borrower shall have signed a counterpart hereof (whether the same or different counterparts) and shall have delivered (including by way of facsimile transmission) the same to the Administrative Agent at its Notice Office; 4. This Amendment is limited as specified and shall not constitute a modification, acceptance or waiver of any other provision of the Credit Agreement or any other Credit Document. 1 5. This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which counterparts when executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. A complete set of counterparts shall be lodged with the Borrower and the Administrative Agent. 6. 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. *** 2 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date hereof. PACKAGING CORPORATION OF AMERICA By: /s/ Pamela A. Larson ---------------------------------------- Name: Pamela A. Larson Title: Treasurer MORGAN GUARANTY TRUST COMPANY OF NEW YORK, Individually and as Administrative Agent By: /s/ Colleen Galle ---------------------------------------- Name: Colleen Galle Title: Vice President BANKERS TRUST COMPANY, Individually By: /s/ Robert R. Telesca ---------------------------------------- Name: ROBERT R. TELESCA Title: ASSISTANT VICE PRESIDENT GOLDMAN SACHS CREDIT PARTIES L.P. as Documentation Agent By: ---------------------------------------- Name: Title: ABN AMRO BANK N.V. ABN AMRO BANK N.V. By: /s/ Angela Reitz By: /s/ Laurie D. Flom ------------------------- ---------------------------------------- Name: Angela Reitz Name: Laurie D. Flom Title: Vice President Title: Group Vice President BANK OF AMERICA, N.A. By: /s/ Michael J. Balok ---------------------------------------- Name: Michael J. Balok Title: Managing Director THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND By: /s/ Geraldine Hannon /s/ Mary [ILLEGIBLE] ---------------------------------------- Name: Geraldine Hannon Mary [ILLEGIBLE] Title: Associate Director Senior [ILLEGIBLE] BANK OF MONTREAL By: ---------------------------------------- Name: Title: THE BANK OF NOVA SCOTIA By: ---------------------------------------- Name: Title: BANK OF SCOTLAND By: /s/ Joseph Fratus ---------------------------------------- Name: JOSEPH FRATUS Title: VICE PRESIDENT BANK ONE, N.A. (CHICAGO MAIN OFFICE) By: /s/ Erik C. Back ---------------------------------------- Name: ERIK C. BACK Title: VICE PRESIDENT BW CAPITAL MARKETS, INC. By: /s/ Adele Savoretti /s/ Thomas A. Lowe ---------------------------------------- Name: Adele Savoretti THOMAS A. LOWE Title: Vice President VICE PRESIDENT COBANK, ACB By: /s/ Brian J. Klatt ---------------------------------------- Name: Brian J. Klatt Title: Vice President CREDIT INDUSTRIEL ET COMMERCIAL By: /s/ Sean Mounier /s/ Anthony Rock ---------------------------------------- Name: Sean Mounier Anthony Rock Title: First Vice President Vice President CREDIT LYONNAIS NEW YORK BRANCH By: /s/ R. Hurst ---------------------------------------- Name: Rod Hurst Title: Vice President CYPRESSTREE INVESTMENT FUND, LLC BY: CYPRESSTREE INVESTMENT MANAGEMENT COMPANY, INC. ITS MANAGING MEMBER By: /s/ Jonathan D. Sharkey ---------------------------------------- Name: JONATHAN D. SHARKEY Title: PRINCIPAL CYPRESSTREE INVESTMENT MANAGEMENT COMPANY, INC. as Attorney-in-Fact and on behalf of FIRST ALLMERICA LIFE INSURANCE COMPANY as Portfolio Manager By: /s/ Jonathan D. Sharkey ---------------------------------------- Name: JONATHAN D. SHARKEY Title: PRINCIPAL THE DAI-ICHI KANGYO BANK, LTD. By: /s/ [ILLEGIBLE] ---------------------------------------- Name: [ILLEGIBLE] Title: General Manager ERSTE BANK DER OESTERREICHSCHEN SPARKASSEN By: /s/ Rima Terradista /s/ John S. Runnion ---------------------------------------- Name: RIMA TERRADISTA John S. Runnion Title: Vice President First Vice President Erste Bank New York Branch FIRST UNION NATIONAL BANK By: /s/ J. Andrew [ILLEGIBLE] ---------------------------------------- Name: J. Andrew [ILLEGIBLE] Title: Vice President FLEET NATIONAL BANK By: /s/ CB Moore ---------------------------------------- Name: CB Moore Title: Vice President THE FUJI BANK, LIMITED By: /s/ Peter L. Chinnici ---------------------------------------- Name: Peter L. Chinnici Title: Senior Vice President & Group Head GALAXY CLO 1999-1, LTD. By: SAI Investment Adviser, Inc. Its Collateral Manager By: /s/ Thomas G. Brandt ---------------------------------------- Name: Thomas G. Brandt Title: Authorized Agent GOLDMAN SACHS CREDIT PARTNERS, L.P. By: /s/ Elizabeth Fischer ---------------------------------------- Name: ELIZABETH FISCHER Title: AUTHORIZED SIGNATORY IKB DEUTSCHE INDUSTRIEBANK AG By: /s/ Edwin Brecht /s/ Manfred Ziway ---------------------------------------- Name: Edwin Brecht Manfred Ziway Title: Executive Director Director IMPERIAL BANK, A CALIFORNIA BANKING CORPORATION By: ---------------------------------------- Name: Title: THE INDUSTRIAL BANK OF JAPAN, LIMITED, CHICAGO BRANCH By: /s/ Walter R. Wolff ---------------------------------------- Name: Walter R. Wolff Title: Joint General Manager KEMPER FLOATING RATE FUND By: /s/ Kelly D. Bobson ---------------------------------------- Name: Kelly D. Bobson Title: Managing Director KZH PONDVIEW LLC By: ---------------------------------------- Name: Title: KZH CNC LLC By: /s/ Susan Lee ---------------------------------------- Name: Susan Lee Title: Authorized Agent KZH CYPRESSTREE-1 LLC By: /s/ Kimberly Rowe ---------------------------------------- Name: KIMBERLY ROWE Title: AUTHORIZED AGENT KZH CRESCENT-3 LLC By: /s/ Susan Lee ---------------------------------------- Name: Susan Lee Title: Authorized Agent SEQUILS IV, LTD By: TCW Advisors, Inc. as its Collateral Manager By: /s/ Mark Gold ---------------------------------------- Name: Mark Gold Title: Managing Director SEQUILS I, LTD By: TCW Advisors, Inc. as its Collateral Manager By: /s/ Mark Gold ---------------------------------------- Name: Mark Gold Title: Managing Director By: /s/ Jonathan Berg ---------------------------------------- Name: Jonathan Berg Title: Assistant Vice President KZH ING-1 LLC By: ---------------------------------------- Name: Title: KZH STERLING LLC By: /s/ Susan Lee ---------------------------------------- Name: Susan Lee Title: Authorized Agent BANK OF SCOTLAND By: ---------------------------------------- Name: Title: KZH CRESCENT LLC By: /s/ Susan Lee ---------------------------------------- Name: Susan Lee Title: Authorized Agent KZH WATERSIDE LLC By: /s/ Susan Lee ---------------------------------------- Name: Susan Lee Title: Authorized Agent KZH CRESCENT-2 LLC By: /s/ Susan Lee ---------------------------------------- Name: Susan Lee Title: Authorized Agent LLOYDS TSB BANK PLC By: /s/ Ian Dimmock /s/ David Rodway ---------------------------------------- Name: IAN DIMMOCK DAVID RODWAY Title: Vice President Assistant Director Acquisition Finance D080 R156 KZH SOLEIL LLC By: ------------------------------------ Name: Title: KZH WATERSIDE LLC By: ------------------------------------ Name: Title: MICHIGAN NATIONAL BANK By: /s/ John M. [ILLEGIBLE] ---------------------------------------- Name: John M. [ILLEGIBLE] Title: Vice President THE MITSUBISHI TRUST AND BANKING CORPORATION By: ---------------------------------------- Name: Title: MUIRFIELD TRADING LLC By: /s/ Ann E. Morris ---------------------------------------- Name: ANN E. MORRIS Title: ASST. VICE PRESIDENT NATEXIS BANQUE BFCE By: /s/ JORDAN SADLER ---------------------------------------- Name: JORDAN SADLER Title: ASSISTANT VICE PRESIDENT NATEXIS BANQUE BFCE By: /s/ Frank H. Madden, Jr. ---------------------------------------- Name: FRANK H. MADDEN, JR. Title: VICE PRESIDENT & GROUP MANAGER NATIONAL CITY BANK By: /s/ Jennifer L. Kofod ---------------------------------------- Name: JENNIFER L. KOFOD Title: ACCOUNT OFFICER NORTH AMERICAN SENIOR FLOATING RATE FUND By: CYPRESSTREE INVESTMENT MANAGEMENT COMPANY, INC. as Portfolio Manager By: /s/ Jonathan D. Sharkey ---------------------------------------- Name: JONATHAN D. SHARKEY Title: PRINCIPAL THE NORTHERN TRUST COMPANY By: ---------------------------------------- Name: Title: OLYMPIC FUNDING TRUST, SERIES 1999-1 By: /s/ Ann E. Morris ---------------------------------------- Name: ANN E. MORRIS Title: AUTHORIZED AGENT PINEHURST TRADING, INC. By: /s/ Ann E. Morris ---------------------------------------- Name: ANN E. MORRIS Title: ASST. VICE PRESIDENT PPM SPYGLASS FUNDING TRUST By: /s/ Ann E. Morris ---------------------------------------- Name: ANN E. MORRIS Title: AUTHORIZED AGENT THE SAKURA BANK, LIMITED By: ---------------------------------------- Name: Title: THE SUMITOMO BANK, LIMITED By: /s/ Suresh S. Tata ---------------------------------------- Name: SURESH S. TATA Title: SENIOR VICE PRESIDENT SUMITOMO TRUST & BANKING CO., LTD. NEW YORK BRANCH By: /s/ Stephen Stratico ---------------------------------------- Name: Stephen Stratico Title: Vice President SUMMIT BANK By: /s/ Richard J. Banning ---------------------------------------- Name: RICHARD J. BANNING Title: VICE PRESIDENT TORONTO DOMINION (TEXAS), INC. By: /s/ Alva J. Jones ---------------------------------------- Name: Alva J. Jones Title: Vice President TRANSAMERICA BUSINESS CREDIT CORPORATION By: /s/ Steve Guetschins ---------------------------------------- Name: Steve Guetschins Title: SVP VARIABLE INSURANCE PRODUCTS FUND II: ASSET MANAGER GROWTH PORTFOLIO By: ---------------------------------------- Name: Title: VARIABLE INSURANCE PRODUCTS FUND II: ASSET MANAGER PORTFOLIO By: ---------------------------------------- Name: Title: UNION BANK OF CALIFORNIA, N.A. By: /s/ Harry G. Montgomery ---------------------------------------- Name: Harry G. Montgomery Title: Vice President PROMETHEUS INVESTMENT FUNDING NO.1 LTD. By: CPF Asset Advisory LP, as its Asset Manager By: /s/ Sylvia K. Cheng ---------------------------------------- Name: Sylvia K. Cheng Title: Director By: /s/ Vicky S. Soo ---------------------------------------- Name: VICKY S. SOO Title: ASSOCIATE DIRECTOR PEOPLE'S BANK By: /s/ Walter W. Kaercher ---------------------------------------- Name: Walter W. Kaercher Title: Vice President SRS 2000 LLC By: /s/ Ann E. Morris ---------------------------------------- Name: ANN E. MORRIS Title: ASST. VICE PRESIDENT STEIN ROE & FARNHAM CLO 1 LTD., By: Stein Roe & Farnham Incorporated, as Portfolio Manager By: /s/ James R. Fellows ---------------------------------------- Name: James R. Fellows Title: Sr. Vice President & Portfolio Manager BANK OF CANTON OF CALIFORNIA By: /s/ Ben C. Hom --------------------------------------- Name: Ben C. Hom Title: SVP & Senior Credit Officer RZB FINANCE LLC By: /s/ Dieter Beintrexler ---------------------------------------- Name: DIETER BEINTREXLER Title: PRESIDENT By: /s/ Astrid Wilke ---------------------------------------- Name: Astrid Wilke Title: Vice President SEQUILS PILGRIM-1, LTD. By: Pilgrim Investment, Inc., as its investment manager By: /s/ William Nutting, Jr. ---------------------------------------- Name: WILLIAM NUTTING, JR. Title: ASST. VICE PRESIDENT GMAC Commercial Credit, LLC By: /s/ [ILLEGIBLE] ---------------------------------------- Name: [ILLEGIBLE] Title: SVP WINGED FOOT FUNDING TRUST By: /s/ Ann E. Morris ---------------------------------------- Name: ANN E. MORRIS Title: AUTHORIZED AGENT INDOSUEZ CAPITAL FUNDING IIA, LIMITED By: Indosuez Capital as Portfolio Advisor By: /s/ Melissa Marano ---------------------------------------- Name: Melissa Marano Title: Vice President INDOSUEZ CAPITAL FUNDING IV, L.P. By: Indosuez Capital as Portfolio Advisor By: /s/ Melissa Marano ---------------------------------------- Name: Melissa Marano Title: Vice President WACHOVIA BANK, N.A. By: /s/ Debra L. Coheley ---------------------------------------- Name: DEBRA L. COHELEY Title: SENIOR VICE PRESIDENT For purposes of the Credit Documents to which the Subsidiary Guarantors are party, by their respective signatures below, each Subsidiary Guarantor hereby consents and agrees to the entering into of this Amendment and acknowledges and affirms that the each of the Subsidiaries Guaranty and Security Documents (as amended, modified or supplemented prior to the date hereof) remains in full force and effect in accordance with its terms on the date hereof and after giving effect to this Amendment: DIXIE CONTAINER CORPORATION By: /s/ Richard [ILLEGIBLE] ---------------------------------------- Name: Richard [ILLEGIBLE] Title: Chief Financial Officer, Vice President and Secretary PCA HYDRO, INC. By: /s/ Richard [ILLEGIBLE] ---------------------------------------- Name: Richard [ILLEGIBLE] Title: Chief Financial Officer, Vice President and Secretary