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<PAGE> 1
EXHIBIT 10.2
AMENDMENT NO. 2 TO
AMENDED AND RESTATED CREDIT AGREEMENT
THIS AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT (this
"Agreement") is made and entered into as of this 29th day of April, 1999 by and
between WINDMERE-DURABLE HOLDINGS, INC., a Florida corporation (the "Borrower"),
EACH OF THE SUBSIDIARIES OF THE BORROWER SIGNATORY HERETO (collectively, the
"Guarantors"), the LENDERS SIGNATORY HERETO (the "Lenders") and NATIONSBANK,
NATIONAL ASSOCIATION, a national banking association organized and existing
under the laws of the United States, in its capacity as agent for the Lenders
(the "Agent").
W I T N E S S E T H:
WHEREAS, the Borrower, the Agent and the Lenders have entered into an
Amended and Restated Credit Agreement dated as of August 7, 1998, as amended
pursuant to that certain Amendment No. 1 to Amended and Restated Credit
Agreement dated as of December 29, 1998 (as amended hereby and as from time to
time further amended, supplemented or replaced, the "Credit Agreement");
WHEREAS, the Borrower, the Agent and the Lenders have agreed to amend
certain provisions contained in the Credit Agreement;
NOW, THEREFORE, in consideration of the mutual covenants, promises and
conditions herein set forth, it is hereby agreed as follows:
1. DEFINITIONS. The term "Credit Agreement" as used herein and in the
Credit Agreement and the other Loan Documents shall mean the Credit Agreement as
hereby amended and as from time to time further amended or modified. Unless the
context otherwise requires, all capitalized terms used herein without definition
shall have the respective meanings provided therefor in the Credit Agreement.
2. AMENDMENT TO CREDIT AGREEMENT. Section 10.2(g) of the Credit
Agreement is hereby deleted and the following new subsection (g) is inserted in
replacement thereof:
(g) Liens securing Indebtedness permitted under
SECTION 10.1(A), (B), (F) OR (I) hereof (subject to compliance
with subsection (c) above in connection with purchase money
Indebtedness); provided, however, that to the extent any such
Indebtedness is incurred by any Foreign Subsidiary, the Liens
securing such Indebtedness may be granted by, and may attach
only to real or personal property of, the Foreign Subsidiary
incurring such Indebtedness.
<PAGE> 2
3. ENTIRE AGREEMENT. This Agreement sets forth the entire understanding
and agreement of the parties hereto in relation to the subject matter hereof and
supersedes any prior negotiations and agreements among the parties relative to
such subject matter. None of the terms or conditions of this Agreement may be
changed, modified, waived or canceled orally or otherwise, except by writing,
signed by all the parties hereto, specifying such change, modification, waiver
or cancellation of such terms or conditions, or of any proceeding or succeeding
breach thereof.
4. FULL FORCE AND EFFECT OF AGREEMENT. Except as hereby specifically
amended, modified or supplemented, the Credit Agreement and all of the other
Loan Documents are hereby confirmed and ratified in all respects and shall
remain in full force and effect according to their respective terms.
5. COUNTERPARTS. This Agreement may be executed in any number of
counterparts and all the counterparts taken together shall be deemed to
constitute one and the same instrument.
6. ENFORCEABILITY. Should any one or more of the provisions of this
Agreement be determined to be illegal or unenforceable as to one or more of the
parties hereto, all other provisions nevertheless shall remain effective and
binding on the parties hereto.
[Signature pages follow.]
2
<PAGE> 3
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed by their duly authorized officers, all as of the day and year
first above written.
BORROWER:
WINDMERE-DURABLE HOLDINGS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
AGENT:
NATIONSBANK, NATIONAL ASSOCIATION, as
Agent for the Lenders
By: /s/ Andrew M. Airheart
-------------------------------
Name: Andrew M. Airheart
-------------------------------
Title: Senior Vice President
------------------------------
LENDERS:
NATIONSBANK, NATIONAL ASSOCIATION
By: /s/ Andrew M. Airheart
-------------------------------
Name: Andrew M. Airheart
-------------------------------
Title: Senior Vice President
------------------------------
ABN AMRO BANK N.V.
By: /s/ Deborah Day Orozco
-------------------------------
Name: Deborah Day Orozco
-------------------------------
Title: Vice President
------------------------------
By: /s/ Boris Espinoza
-------------------------------
Name: Boris Espinoza
-------------------------------
Title: Officer
------------------------------
3
<PAGE> 4
BANK ATLANTIC
By: /s/ Ana C. Bolduc
-------------------------------
Name: Ana C. Bolduc
-------------------------------
Title: Senior Vice President
------------------------------
BANK LEUMI LE-ISRAEL
By: /s/ Joseph F. Realini
-------------------------------
Name: Joseph F. Realini
-------------------------------
Title: Vice President
------------------------------
SCOTIABANC INC.
By: /s/ W. J. Brown
-------------------------------
Name: W. J. Brown
-------------------------------
Title: Managing Director
------------------------------
PARIBAS
By:
-------------------------------
Name:
-------------------------------
Title:
------------------------------
By:
-------------------------------
Name:
-------------------------------
Title:
------------------------------
BARCLAYS BANK PLC
By:
-------------------------------
Name:
-------------------------------
Title:
------------------------------
4
<PAGE> 5
ERSTE BANK NEW YORK
By: /s/ Arcinee Hovanessian
-------------------------------
Name: Arcinee Hovanessian
-------------------------------
Title: Vice President
-------------------------------
By: /s/ John S. Runnion
---------------------------------
Name: John S. Runnion
------------------------------
Title: First Vice President
------------------------------
IMPERIAL BANK, A CALIFORNIA BANKING
CORPORATION
By: /s/ Ray Vadalma
-------------------------------
Name: Ray Vadalma
-------------------------------
Title: Senior Vice President
------------------------------
THE LONG-TERM CREDIT BANK OF JAPAN,
LTD.
By: /s/ Thomas N. Meyer
-------------------------------
Name: Thomas N. Meyer
-------------------------------
Title: Senior Vice President
------------------------------
THE MITSUBISHI TRUST AND BANKING
CORPORATION
By: /s/ Beatrice E. Kossodo
-------------------------------
Name: Beatrice E. Kossodo
-------------------------------
Title: Senior Vice President
------------------------------
NATIONAL BANK OF CANADA
By: /s/ Michael Bloomenfeld
-------------------------------
Name: Michael Bloomenfeld
-------------------------------
Title: Vice President
------------------------------
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<PAGE> 6
SUMMIT BANK
By: /s/ Seiji P. Nakamura
-------------------------------
Name: Seiji P. Nakamura
-------------------------------
Title: Assistant Vice President
------------------------------
US TRUST
By: /s/ Thomas F. Macina
-------------------------------
Name: Thomas F. Macina
-------------------------------
Title: Vice President
------------------------------
ALLIANCE INVESTMENT OPPORTUNITIES
FUND, L.L.C.
By: ALLIANCE INVESTMENT OPPORTUNITIES
MANAGEMENT, L.L.C., as Managing
Member
By: ALLIANCE CAPITAL MANAGEMENT
L.P., as Managing Member
By: ALLIANCE CAPITAL MANAGEMENT
CORPORATION, as General
Partner
By:
-------------------------------
Name:
-------------------------------
Title:
------------------------------
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<PAGE> 7
ALLIANCE CAPITAL MANAGEMENT L.P., as
Manager on behalf of ALLIANCE CAPITAL
FUNDING, L.L.C.
By: ALLIANCE CAPITAL MANAGEMENT
CORPORATION, General Partner of
Alliance Capital Management L.P.
By:
-------------------------------
Name:
-------------------------------
Title:
------------------------------
BALANCED HIGH-YIELD FUND I LTD
By: BHF-BANK AKTIENGESELLSCHAFT,
acting through its New York
Branch, as attorney-in-fact
By: /s/ Peter Leibman
-------------------------------
Name: Peter Leibman
-------------------------------
Title: A.T.
------------------------------
By: /s/ Michael Pellerito
-------------------------------
Name: Michael Pellerito
-------------------------------
Title: A.V.P.
------------------------------
BHF-BANK AKTIENGESELLSCHAFT
By: /s/ Peter Leibman
-------------------------------
Name: Peter Leibman
-------------------------------
Title: A.T.
------------------------------
By: /s/ Michael Pellerito
-------------------------------
Name: Michael Pellerito
-------------------------------
Title: A.V.P.
------------------------------
INDOSUEZ CAPITAL FUNDING III, LIMITED
By: INDOSUEZ CAPITAL as Portfolio
Advisor
By: /s/ Melissa Marano
-------------------------------
Name: Melissa Marano
-------------------------------
Title: Vice President
------------------------------
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<PAGE> 8
BANK AUSTRIA CREDITANSTALT CORPORATE
FINANCE, INC., f.k.a. Creditanstalt
Corporate Finance, Inc.
By: /s/ Scott Kray
-------------------------------
Name: Scott Kray
-------------------------------
Title: Vice President
------------------------------
By: /s/ Thomas G. Pierce
-------------------------------
Name: Thomas G. Pierce
-------------------------------
Title: Senior Associate
------------------------------
NATIONSBANC MONTGOMERY SECURITIES LLC
By:
-------------------------------
Name:
-------------------------------
Title:
------------------------------
ARES LEVERAGED INVESTMENT FUND, L.P.
By: ARES Management, L.P.
By: /s/ Merritt S. Hooper
-------------------------------
Name: Merritt S. Hooper
Title: Vice President
ARES LEVERAGED INVESTMENT FUND II,
L.P.
By: ARES Management II, L.P.
By: /s/ Merritt S. Hooper
-------------------------------
Name: Merritt S. Hooper
Title: Vice President
8
<PAGE> 9
FLEET BANK, N.A.
By: /s/ Thomas J. Levy
-------------------------------
Name: Thomas J. Levy
-------------------------------
Title: Vice President
------------------------------
FLEET BUSINESS CREDIT CORPORATION
By: /s/ Wes Manus
-------------------------------
Name: Wes Manus
-------------------------------
Title: A.V.P.
------------------------------
CANADIAN IMPERIAL BANK OF COMMERCE
By: /s/ K. Volk
-------------------------------
Name: Karen Volk
-------------------------------
Title: Authorized Signatory
------------------------------
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<PAGE> 10
OAK MOUNTAIN LIMITED
By: Alliance Capital Management,
L.P., as Investment Manager
By: Alliance Capital Management
Corporation, as General Partner
By:
-------------------------------
Name:
-------------------------------
Title:
------------------------------
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<PAGE> 11
THE UNDERSIGNED GUARANTORS HEREBY ACKNOWLEDGE AND CONSENT TO THIS AMENDMENT OF
THE CREDIT AGREEMENT AND REAFFIRM THEIR OBLIGATIONS UNDER THE FACILITY GUARANTY
THIS ____ DAY OF APRIL, 1999:
WINDMERE CORPORATION
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
WINDMERE HOLDINGS CORPORATION
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Secretary
------------------------------
WINDMERE HOLDINGS CORPORATION II
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Secretary
------------------------------
WINDMERE FAN PRODUCTS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
JERDON PRODUCTS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
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<PAGE> 12
CONSUMER PRODUCTS AMERICAS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Secretary
------------------------------
EDI MASTERS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
WINDMERE INNOVATIVE PET PRODUCTS,
INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
BAY BOOKS & TAPES, INC.
By:
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Secretary
------------------------------
FORTUNE PRODUCTS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Secretary
------------------------------
HOUSEHOLD PRODUCTS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
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<PAGE> 13
HP DELAWARE, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
HP AMERICAS, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
HPG LLC
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
HP INTELLECTUAL CORP
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Treasurer
------------------------------
WD DELAWARE, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Secretary
------------------------------
WD DELAWARE II, INC.
By: /s/ Cindy Solovei
-------------------------------
Name: Cindy Solovei
-------------------------------
Title: Secretary
------------------------------
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