UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 22, 2016
TERADATA CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware | 001-33458 | 75-3236470 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) | ||
10000 Innovation Drive Dayton, Ohio |
45342 | |||
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number including area code: (866) 548-8348
N/A
(Former Name or Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01. Entry into a Material Definitive Agreement.
On January 22, 2016, Teradata Corporation (Teradata) entered into Second Amendments (together, the Second Amendments) to its Revolving Credit Agreement dated as of March 25, 2015 with Bank of America, N.A., as Administrative Agent, JPMorgan Chase Bank, N.A., as Syndication Agent, Citibank, N.A., HSBC Bank USA, N.A., the Bank of Tokyo-Mitsubishi UFJ, Ltd. and U.S. Bank National Association, as Co-Documentation Agents, and the other lenders party thereto (the Revolving Credit Agreement) and to its Term Loan Agreement dated as of March 25, 2015 with JPMorgan Chase Bank, N.A., as Administrative Agent, Bank of America, N.A., as Syndication Agent, Citibank, N.A., HSBC Bank USA, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd. and U.S. Bank National Association, as Co-Documentation Agents, and the other lenders party thereto (the Term Loan Agreement). The Second Amendments amend the definition of the term Change in Control in the Revolving Credit Agreement and the Term Loan Agreement in certain respects. A Change in Control, as defined, constitutes an event of default under both agreements.
On January 22, 2016, Teradata also entered into Third Amendments to the Revolving Credit Agreement and the Term Loan Agreement (together, the Third Amendments). The Third Amendments modify certain covenants made by Teradata in the Revolving Credit Agreement and the Term Loan Agreement to expressly permit the sale or other disposition by Teradata of its marketing applications business so long as such sale or other disposition is consummated on or before January 31, 2017.
The foregoing description of the Second Amendments and the Third Amendments is not complete and is subject to and qualified in its entirety by reference to the Second Amendments and the Third Amendments, which are attached as Exhibits 1.1, 1.2, 1.3, and 1.4, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 26, 2016, Mr. Edward P. (Pete) Boykin, a director of Teradata, notified Teradata that he will retire from the Teradata Board of Directors at the 2016 Annual Meeting of Stockholders and, accordingly, he will not be standing for reelection by the stockholders at the meeting and will resign from the Board of Directors effective at the end of his current term, which expires at the annual meeting. He also informed Teradata that his decision was not because of any disagreement with Teradata on any matter relating to Teradatas operations, policies or practices. Mr. Boykin has served as a director of Teradata since its formation.
On January 26, 2016, the Teradata Board of Directors also reduced the number of directors on the board and in the class of directors to be elected at the 2016 Annual Stockholders Meeting (Class III) by one, effective with the expiration of Mr. Boykins current term at the 2016 Annual Meeting of Stockholders.
Item 9.01. Financial Statements and Exhibits.
(d) | Exhibits |
The following exhibits are attached to this Current Report on Form 8-K:
Exhibit No. |
Description |
|
1.1 | Second Amendment to the Revolving Credit Agreement dated as of January 22, 2016 | |
1.2 | Second Amendment to the Term Loan Agreement dated as of January 22, 2016 | |
1.3 | Third Amendment to the Revolving Credit Agreement dated as of January 22, 2016 | |
1.4 | Third Amendment to the Term Loan Agreement dated as of January 22, 2016 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Teradata Corporation | ||
By: | /s/ Laura K. Nyquist | |
Name: Laura K. Nyquist | ||
Title: General Counsel and Secretary |
Dated: January 28, 2016
Index to Exhibits
Exhibit No. |
Description |
|
1.1 | Second Amendment to Revolving Credit Agreement dated as of March 25, 2015 among Teradata Corporation, Bank of America, N.A., as Administrative Agent, JPMorgan Chase Bank, N.A., as Syndication Agent, Citibank, N.A., HSBC Bank USA, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd. and U.S. Bank National Association, as Co-Documentation Agents, and the other lenders party thereto (the Revolving Credit Agreement) dated as of January 22, 2016. | |
1.2 | Second Amendment to Term Loan Agreement dated as of March 25, 2015 among Teradata Corporation, JPMorgan Chase Bank, N.A., as Administrative Agent, Bank of America, N.A., as Syndication Agent, Citibank, N.A., HSBC Bank USA, N.A., The Bank of Tokyo-Mitsubishi UFJ, Ltd. and U.S. Bank National Association, as Co-Documentation Agent, and the other lenders party thereto (the Term Loan Agreement) dated as of January 22, 2016. | |
1.3 | Third Amendment to the Revolving Credit Agreement dated as of January 22, 2016. | |
1.4 | Third Amendment to the Term Loan Agreement dated as of January 22, 2016. |
Exhibit 1.1
SECOND AMENDMENT TO
REVOLVING CREDIT AGREEMENT (CHANGE OF CONTROL)
This SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT (CHANGE OF CONTROL) (this Amendment ) is entered into as of January 22, 2016 by and between Teradata Corporation, a Delaware corporation (the Borrower ) and Bank of America, N. A., as administrative agent for the Lenders under the Revolving Credit Agreement referenced below (in such capacity, the Administrative Agent ).
RECITALS
A. The Borrower, the Administrative Agent and certain financial institutions are party to that certain Revolving Credit Agreement dated as of March 25, 2015 (as amended by that certain First Amendment to Revolving Credit Agreement, dated as of November 13, 2015, the Revolving Credit Agreement ). Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Revolving Credit Agreement.
B. The Borrower and the Administrative Agent, acting with the consent and at the direction of the Required Lenders pursuant to that certain Consent dated as of January 22, 2016, wish to amend the Revolving Credit Agreement on the terms and conditions set forth below.
Now, therefore, in consideration of the mutual execution hereof and other good and valuable consideration, the parties hereto agree as follows:
1. Amendment to Revolving Credit Agreement . Upon the Effective Date (as defined below) the definition of Change in Control in Section 1.01 of the Revolving Credit Agreement shall be amended in its entirety to read as follows:
Change in Control means (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof) other than an employee benefit plan or related trust of the Borrower or of the Borrower and any Subsidiaries, of shares representing more than 25% of the aggregate ordinary voting power represented by the issued and outstanding capital stock of the Borrower; or (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were neither (i) nominated , appointed or approved for election by the board of directors of the Borrower nor (ii) appointed by directors so nominated, appointed or approved for election.
2. Representations and Warranties of the Borrower . The Borrower represents and warrants that on and as of the Effective Date:
(a) the execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate action and this Amendment (and the Revolving Credit Agreement as amended hereby) is a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law;
(b) each of the representations and warranties of the Borrower and each other Loan Party contained in Article III of the Revolving Credit Agreement or in any other Loan Document are true and correct on and as of the Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and
(c) no Default has occurred and is continuing.
3. Effective Date . This Amendment shall become effective on the date (the Effective Date ) upon which all of the following conditions have been satisfied:
(a) the execution and delivery hereof by the Borrower and the Administrative Agent; and
(b) the execution and delivery by the Guarantors of an Affirmation of Guaranty in the form of Exhibit A attached hereto.
4. Reference to and Effect upon the Revolving Credit Agreement .
(a) Except as specifically amended above, the Revolving Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. Each party to the Loan Documents shall hereafter have and perform the obligations, and be entitled to the rights and remedies, applicable to it pursuant to the terms and conditions of the Loan Documents as amended hereby.
(b) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or any Lender under the Revolving Credit Agreement or any Loan Document, nor constitute a waiver of any provision of the Revolving Credit Agreement or any Loan Document, except as specifically set forth herein. Upon the effectiveness of this Amendment, each reference in the Revolving Credit Agreement to this Agreement or in the Revolving Credit Agreement or any other Loan Document to Revolving Credit Agreement, Credit Agreement, hereunder, hereof, herein or words of similar import shall mean and be a reference to the Revolving Credit Agreement as amended hereby.
5. Costs and Expenses . The Borrower hereby affirms its obligation under Section 9.03 of the Revolving Credit Agreement to reimburse the Administrative Agent for all reasonable out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment, including but not limited to the reasonable fees, charges and disbursements of counsel (including the allocated costs and expenses of in-house counsel) for the Administrative Agent with respect thereto.
6. Governing Law . This Amendment shall be construed in accordance with and governed by the law of the State of New York.
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7. Headings . Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
8. Counterparts . This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, pdf or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.
[signature pages follow]
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first above written.
TERADATA CORPORATION, as Borrower | ||
By: | /s/ Laura Jividen | |
Name: Laura Jividen | ||
Title: VP-Tax/Treasurer |
Signature Page
Affirmation of Guaranty
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BANK OF AMERICA, N.A., as Administrative Agent | ||
By: | /s/ Joan Mok | |
Name: Joan Mok | ||
Title: Vice President |
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EXHIBIT A
AFFIRMATION OF GUARANTY
January 22, 2016
Each of the undersigned (the Guarantors ) hereby (a) acknowledges receipt of a copy of that certain Second Amendment to Revolving Credit Agreement (Change of Control), dated as of the date hereof (the Amendment ), relating to the Revolving Credit Agreement, dated as of March 25, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the Revolving Credit Agreement ) referred to therein, (b) consents to the Amendment and each of the transactions referenced therein, (c) reaffirms its obligations under the Guaranty and (d) agrees that all references therein or in any other Loan Document to the Revolving Credit Agreement shall mean and be a reference to the Revolving Credit Agreement as amended by the Amendment. Capitalized terms used herein, but not otherwise defined herein, shall have the meanings ascribed to such terms in the Revolving Credit Agreement, as amended by the Amendment. Although the Guarantors have been informed of the matters set forth herein and have acknowledged and consented to same, each Guarantor understands that neither the Administrative Agent nor any Lender has any obligation to inform the Guarantors of such matters in the future or to seek any Guarantors acknowledgment or consent to future amendments or waivers, and nothing herein shall create such a duty.
[signature page follows]
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TERADATA INTERNATIONAL, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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TERADATA OPERATIONS, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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TERADATA US, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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Signature Page
Affirmation of Guaranty
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Exhibit 1.2
AMENDMENT TO TERM LOAN AGREEMENT (CHANGE IN CONTROL)
This Amendment to Term Loan Agreement (Change in Control) (this Amendment ) is entered into as of January 22, 2016 by and between Teradata Corporation, a Delaware corporation (the Borrower ) and JPMorgan Chase Bank, N. A., as administrative agent for the Lenders under the Term Loan Agreement referenced below (the Administrative Agent ).
RECITALS
A. The Borrower, the Administrative Agent and certain financial institutions are party to that certain Term Loan Agreement dated as of March 25, 2015, as amended by the First Amendment thereto dated as of November 13, 2015 (as so amended, the Term Loan Agreement ). Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Term Loan Agreement.
B. The Borrower and the Administrative Agent, acting with the consent and at the direction of the Required Lenders pursuant to that certain Consent dated as of January 22, 2016, wish to amend the Term Loan Agreement on the terms and conditions set forth below.
Now, therefore, in consideration of the mutual execution hereof and other good and valuable consideration, the parties hereto agree as follows:
1. Amendment to Term Loan Agreement . Upon the Effective Date (as defined below) the definition of Change in Control in Section 1.01 of the Term Loan Agreement shall be amended in its entirety to read as follows:
Change in Control means (a) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof) other than an employee benefit plan or related trust of the Borrower or of the Borrower and any Subsidiaries, of shares representing more than 25% of the aggregate ordinary voting power represented by the issued and outstanding capital stock of the Borrower; or (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by Persons who were neither (i) nominated, appointed or approved for election by the board of directors of the Borrower nor (ii) appointed by directors so nominated, appointed or approved for election.
2. Representations and Warranties of the Borrower . The Borrower represents and warrants that on and as of the Effective Date:
(a) the execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate action and this Amendment (and the Term Loan Agreement as amended hereby) is a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law;
(b) each of the representations and warranties of the Borrower and each other Loan Party contained in Article III of the Term Loan Agreement or in any other Loan Document are true and correct on and as of the Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and
(c) no Default has occurred and is continuing.
3. Effective Date . This Amendment shall become effective on the date (the Effective Date ) upon which all of the following conditions have been satisfied:
(a) the execution and delivery hereof by the Borrower and the Administrative Agent; and
(b) the execution and delivery by the Guarantors of an Affirmation of Guaranty in the form of Exhibit A attached hereto.
4. Reference to and Effect Upon the Term Loan Agreement .
(a) Except as specifically amended above, the Term Loan Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. Each party to the Loan Documents shall hereafter have and perform the obligations, and be entitled to the rights and remedies, applicable to it pursuant to the terms and conditions of the Loan Documents as amended hereby.
(b) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or any Lender under the Term Loan Agreement or any Loan Document, nor constitute a waiver of any provision of the Term Loan Agreement or any Loan Document, except as specifically set forth herein. Upon the effectiveness of this Amendment, each reference in the Term Loan Agreement to this Agreement, hereunder, hereof, herein or words of similar import shall mean and be a reference to the Term Loan Agreement as amended hereby.
5. Costs and Expenses . The Borrower hereby affirms its obligation under Section 9.03 of the Term Loan Agreement to reimburse the Administrative Agent for all reasonable out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment, including but not limited to the reasonable fees, charges and disbursements of counsel (including the allocated costs and expenses of in-house counsel) for the Administrative Agent with respect thereto.
6. Governing Law . This Amendment shall be construed in accordance with and governed by the law of the State of New York.
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7. Headings . Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
8. Counterparts . This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, pdf or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.
[signature pages follow]
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first above written.
TERADATA CORPORATION, as Borrower | ||
By: | /s/ Laura Jividen | |
Name: Laura Jividen | ||
Title: VP-Tax and Treasurer |
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JPMORGAN CHASE BANK, N.A., as Administrative Agent | ||
By: | /s/ Justin Burton | |
Name: Justin Burton | ||
Title: Underwriting Sr. Associate |
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EXHIBIT A
AFFIRMATION OF GUARANTY
January [__], 2016
Each of the undersigned (the Guarantors ) acknowledges receipt of a copy of that certain Amendment to Term Loan Agreement (Change in Control) dated as of the date hereof (the Amendment ) relating to the Term Loan Agreement dated as of March 25, 2015 (as amended, the Term Loan Agreement ) referred to therein, consents to the Amendment and each of the transactions referenced therein, hereby reaffirms its obligations under the Guaranty and agrees that all references therein or in any other Loan Document to the Term Loan Agreement shall mean and be a reference to the Term Loan Agreement as amended by the Amendment. Capitalized terms used herein, but not otherwise defined herein, shall have the meanings ascribed to such terms in the Term Loan Agreement, as amended by the Amendment. Although the Guarantors have been informed of the matters set forth herein and have acknowledged and consented to same, each Guarantor understands that neither the Administrative Agent nor any Lender has any obligation to inform the Guarantors of such matters in the future or to seek any Guarantors acknowledgment or consent to future amendments or waivers, and nothing herein shall create such a duty.
[signature page follows]
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TERADATA INTERNATIONAL, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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TERADATA OPERATIONS, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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TERADATA US, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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Exhibit 1.3
THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT
This THIRD AMENDMENT TO REVOLVING CREDIT AGREEMENT (this Amendment ) is entered into as of January 22, 2016 by and among Teradata Corporation, a Delaware corporation (the Borrower ), each undersigned lender under the Revolving Credit Agreement referenced below (each, a Consenting Lender ) and Bank of America, N. A., as administrative agent for the Lenders under the Revolving Credit Agreement referenced below (in such capacity, the Administrative Agent ).
RECITALS
A. The Borrower, the Administrative Agent and certain financial institutions are party to that certain Revolving Credit Agreement dated as of March 25, 2015 (as previously amended, the Revolving Credit Agreement ). Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Revolving Credit Agreement.
B. The Borrower, the Administrative Agent and the undersigned Consenting Lenders wish to amend the Revolving Credit Agreement on the terms and conditions set forth below.
C. Now, therefore, in consideration of the mutual execution hereof and other good and valuable consideration, the parties hereto agree as follows:
1. Amendments to Revolving Credit Agreement . Upon the Effective Date (as defined below) the Revolving Credit Agreement is hereby amended as follows:
(a) Section 1.01 of the Revolving Credit Agreement shall be amended by inserting the following definition in alphabetical order therein:
Marketing Applications Business means the assets of the Borrower and its Subsidiaries that relate exclusively or primarily to providing marketing management and related data management solutions in the cloud as software, as a service or on-premises to help customers implement their data-driven marketing strategies and that constitute assets (or liabilities) that generate revenues reported as part of the Marketing Applications operating segment in the Borrowers reporting to the Securities and Exchange Commission since January 1, 2015.
(b) Section 6.04 of the Revolving Credit Agreement shall be amended by inserting the following sentence at the conclusion thereof: For the avoidance of doubt, the sale or disposition of the Marketing Applications Business in accordance with Section 6.05(vii) shall not be prohibited by this Section 6.04 .
(c) Section 6.05 of the Revolving Credit Agreement shall be amended to replace everything from and after the word and following the existing clause (vi) thereof with the following:
(vii) sell or otherwise dispose of the Marketing Applications Business so long as (x) such sale or disposition is consummated on or before January [31], 2017, and (y) immediately before and after giving effect to such sale or disposition, no Default shall have occurred and be continuing, and (viii) sell, lease or otherwise dispose of property in any other transaction otherwise permitted under this Agreement, provided that the aggregate book value of all assets sold, leased or otherwise disposed of in transactions under this clause (viii) shall not when taken together at the time of each such sale, lease or other disposition exceed the greater of (x) $150,000,000 and (y) 15% of Consolidated Tangible Assets as of the last day of the most recent fiscal period in respect of which financial statements have been delivered pursuant to Section 5.01 at such time.
2. Representations and Warranties of the Borrower . The Borrower represents and warrants that on and as of the Effective Date:
(a) the execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate action and this Amendment (and the Revolving Credit Agreement as amended hereby) is a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law;
(b) after giving effect hereto, each of the representations and warranties of the Borrower and each other Loan Party contained in Article III of the Revolving Credit Agreement or in any other Loan Document are true and correct on and as of the Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and
(c) no Default has occurred and is continuing.
3. Effective Date . This Amendment shall become effective on the date (the Effective Date ) upon which all of the following conditions have been satisfied:
(a) the execution and delivery hereof by the Borrower, the Administrative Agent and Consenting Lenders constituting at least Required Lenders; and
(b) the execution and delivery by the Guarantors of an Affirmation of Guaranty in the form of Exhibit A attached hereto.
4. Reference to and Effect upon the Revolving Credit Agreement .
(a) Except as specifically amended above, the Revolving Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. Each party to the Loan Documents shall hereafter have and perform the obligations, and be entitled to the rights and remedies, applicable to it pursuant to the terms and conditions of the Loan Documents as amended hereby.
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(b) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or any Lender under the Revolving Credit Agreement or any Loan Document, nor constitute a waiver of any provision of the Revolving Credit Agreement or any Loan Document, except as specifically set forth herein. Upon the effectiveness of this Amendment, each reference in the Revolving Credit Agreement to this Agreement, hereunder, hereof, herein or words of similar import, or in the Revolving Loan Agreement or any other Loan Document to Revolving Credit Agreement, Credit Agreement, thereunder, thereof, therein (in reference to the Revolving Credit Agreement or the Credit Agreement) or words of similar import shall mean and be a reference to the Revolving Credit Agreement as amended hereby.
5. Costs and Expenses . The Borrower hereby affirms its obligation under Section 9.03 of the Revolving Credit Agreement to reimburse the Administrative Agent for all reasonable out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment, including but not limited to the reasonable fees, charges and disbursements of counsel (including the allocated costs and expenses of in-house counsel) for the Administrative Agent with respect thereto.
6. Governing Law . This Amendment shall be construed in accordance with and governed by the law of the State of New York.
7. Headings . Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
8. Counterparts . This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, pdf or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.
[signature pages follow]
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first above written.
TERADATA CORPORATION, as Borrower | ||
By: | /s/ Laura Jividen | |
Name: Laura Jividen | ||
Title: VP-Tax and Treasurer |
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BANK OF AMERICA, N.A., as Administrative Agent | ||
By: | /s/ Joan Mok | |
Name: Joan Mok | ||
Title: Vice President |
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BANK OF AMERICA, N.A., as a Consenting Lender | ||
By: | /s/ Patrick Martin | |
Name: Patrick Martin | ||
Title: Managing Director |
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JPMORGAN CHASE BANK N.A., | ||
as a Consenting Lender | ||
By: | /s/ Justin Burton | |
Name: Justin Burton | ||
Title: Underwriting Sr. Associate |
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CITIBANK, N.A., as a Consenting Lender | ||
By: | /s/ James M. Walsh | |
Name: James M. Walsh | ||
Title: Vice President and Managing Director |
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HSBC Bank USA, N.A.; as a Consenting Lender |
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By: | /s/ Devin A. Moore | |
Name: Devin A. Moore | ||
Title: VP Relationship Manager |
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The Bank of Tokyo-Mitsubishi UFJ, Ltd., as a Consenting Lender |
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By: | /s/ Matthew Antioco | |
Name: Matthew Antioco | ||
Title: Vice President |
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U.S. BANK NATIONAL ASSOCIATION, as a Consenting Lender |
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By: | /s/ Matt S. Scullin | |
Name: Matt S. Scullin | ||
Title: Vice President |
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Wells Fargo Bank, N.A., as a Consenting Lender | ||
By: | /s/ Lacy Houstoun | |
Name: Lacy Houstoun | ||
Title: Director |
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EXHIBIT A
AFFIRMATION OF GUARANTY
January 22, 2016
Each of the undersigned (the Guarantors ) hereby (a) acknowledges receipt of a copy of that certain Third Amendment to Revolving Credit Agreement, dated as of the date hereof (the Amendment ), relating to the Revolving Credit Agreement, dated as of March 25, 2015 (the Revolving Credit Agreement ) referred to therein, (b) consents to the Amendment and each of the transactions referenced therein, (c) reaffirms its obligations under the Guaranty and (d) agrees that all references therein or in any other Loan Document to the Revolving Credit Agreement shall mean and be a reference to the Revolving Credit Agreement as amended by the Amendment. Capitalized terms used herein, but not otherwise defined herein, shall have the meanings ascribed to such terms in the Revolving Credit Agreement, as amended by the Amendment. Although the Guarantors have been informed of the matters set forth herein and have acknowledged and consented to same, each Guarantor understands that neither the Administrative Agent nor any Lender has any obligation to inform the Guarantors of such matters in the future or to seek any Guarantors acknowledgment or consent to future amendments or waivers, and nothing herein shall create such a duty.
[signature page follows]
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TERADATA INTERNATIONAL, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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TERADATA OPERATIONS, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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TERADATA US, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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Exhibit 1.4
AMENDMENT TO TERM LOAN AGREEMENT (SALE OF MARKETING APPLICATIONS BUSINESS)
This AMENDMENT TO TERM LOAN AGREEMENT (SALE OF MARKETING APPLICATIONS BUSINESS) (this Amendment ) is entered into as of January 22, 2016 by and among Teradata Corporation, a Delaware corporation (the Borrower ), each undersigned lender under the Term Loan Agreement referenced below (each, a Consenting Lender ) and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders under the Term Loan Agreement referenced below (the Administrative Agent ).
RECITALS
A. The Borrower, the Administrative Agent and certain financial institutions are party to that certain Term Loan Agreement dated as of March 25, 2015 (as previously amended, the Term Loan Agreement ). Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them by the Term Loan Agreement.
B. The Borrower, the Administrative Agent and the undersigned Consenting Lenders wish to amend the Term Loan Agreement on the terms and conditions set forth below.
C. Now, therefore, in consideration of the mutual execution hereof and other good and valuable consideration, the parties hereto agree as follows:
1. Amendments to Term Loan Agreement . Upon the Effective Date (as defined below) the Term Loan Agreement is hereby amended as follows:
(a) Section 1.01 of the Term Loan Agreement shall be amended by inserting the following definition in appropriate alphabetical order therein:
Marketing Applications Business means the assets of the Borrower and its Subsidiaries that relate exclusively or primarily to providing marketing management and related data management solutions in the cloud as software, as a service or on-premises to help customers implement their data-driven marketing strategies and that constitute assets (or liabilities) that generate revenues reported as part of the Marketing Applications operating segment in the Borrowers reporting to the Securities and Exchange Commission since January 1, 2015.
(b) Section 6.04 of the Term Loan Agreement shall be amended by inserting the following sentence at the conclusion thereof: For the avoidance of doubt, the sale or disposition of the Marketing Applications Business in accordance with Section 6.05(g) shall not be prohibited by this Section 6.04 .
(c) Section 6.05 of the Term Loan Agreement shall be amended to replace everything from and after the word and following the existing clause (f) thereof with the following:
(g) sell or otherwise dispose of the Marketing Applications Business so long as (x) such sale or disposition is consummated on or before January 31, 2017, and (y) immediately before and after giving effect to such sale or disposition, no Default shall have occurred and be continuing, and (h) sell, lease or otherwise dispose of property in any other transaction otherwise permitted under this Agreement, provided that the aggregate book value of all assets sold, leased or otherwise disposed of in transactions under this clause (h) shall not when taken together at the time of each such sale, lease or other disposition exceed the greater of (x) $150,000,000 and (y) 15% of Consolidated Tangible Assets as of the last day of the most recent fiscal period in respect of which financial statements have been delivered pursuant to Section 5.01 at such time.
2. Representations and Warranties of the Borrower . The Borrower represents and warrants that on and as of the Effective Date:
(a) the execution, delivery and performance by the Borrower of this Amendment have been duly authorized by all necessary corporate action and this Amendment (and the Term Loan Agreement as amended hereby) is a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law;
(b) after giving effect hereto, each of the representations and warranties of the Borrower and each other Loan Party contained in Article III of the Term Loan Agreement or in any other Loan Document are true and correct on and as of the Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date; and
(c) no Default has occurred and is continuing.
3. Effective Date . This Amendment shall become effective on the date (the Effective Date ) upon which all of the following conditions have been satisfied:
(a) the execution and delivery hereof by the Borrower, the Administrative Agent and Consenting Lenders constituting at least Required Lenders; and
(b) the execution and delivery by the Guarantors of an Affirmation of Guaranty in the form of Exhibit A attached hereto.
4. Reference to and Effect upon the Term Loan Agreement, Etc .
(a) Except as specifically amended above, the Term Loan Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. Each party to the Loan Documents shall hereafter have and perform the obligations, and be entitled to the rights and remedies, applicable to it pursuant to the terms and conditions of the Loan Documents as amended hereby.
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(b) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or any Lender under the Term Loan Agreement or any Loan Document, nor constitute a waiver of any provision of the Term Loan Agreement or any Loan Document, except as specifically set forth herein. Upon the effectiveness of this Amendment, each reference in the Term Loan Agreement to this Agreement, hereunder, hereof, herein or words of similar import shall mean and be a reference to the Term Loan Agreement as amended hereby.
5. Costs and Expenses . The Borrower hereby affirms its obligation under Section 9.03 of the Term Loan Agreement to reimburse the Administrative Agent for all reasonable out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment, including but not limited to the reasonable fees, charges and disbursements of counsel (including the allocated costs and expenses of in-house counsel) for the Administrative Agent with respect thereto.
6. Governing Law . This Amendment shall be construed in accordance with and governed by the law of the State of New York.
7. Headings . Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
8. Counterparts . This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an original but all such counterparts shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, pdf or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment.
[signature pages follow]
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first above written.
TERADATA CORPORATION, as Borrower | ||
By: | /s/ Laura Jividen | |
Name: Laura Jividen | ||
Title: VP-Tax/Treasurer |
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JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent | ||
By: | /s/ Justin Burton | |
Name: Justin Burton | ||
Title: Underwriting Sr. Associate |
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BANK OF AMERICA, N.A., as a Consenting Lender |
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By: | /s/ Patrick Martin | |
Name: Patrick Martin | ||
Title: Managing Director |
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CITIBANK, N.A., as a Consenting Lender | ||
By: | /s/ James M. Walsh | |
Name: James M. Walsh | ||
Title: Vice President and Managing Director |
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U.S. BANK NATIONAL ASSOCIATION, as a Consenting Lender |
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By: | /s/ Matt S. Scullin | |
Name: Matt S. Scullin | ||
Title: Vice President |
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HSBC Bank USA, N.A., as a Consenting Lender | ||
By: | /s/ Devin A. Moore | |
Name: Devin A. Moore | ||
Title: VP Relationship Manager |
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The Bank of Tokyo-Mitsubishi UFJ, Ltd., as a Consenting Lender |
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By: | /s/ Matthew Antioco | |
Name: Matthew Antioco | ||
Title: Vice President |
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Standard Chartered Bank, as a Consenting Lender | ||
By: | /s/ Rodrigo Gonzalez | |
Name: Rodrigo Gonzalez | ||
Title: Executive Director Capital Markets |
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Wells Fargo Bank, N.A., as a Consenting Lender | ||
By: | /s/ Lacy Houstoun | |
Name: Lacy Houstoun | ||
Title: Director |
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EXHIBIT A
AFFIRMATION OF GUARANTY
January __, 2015
Each of the undersigned (the Guarantors ) hereby (a) acknowledges receipt of a copy of that certain Amendment to Term Loan Agreement (Sale of Marketing Applications Business), dated as of the date hereof (the Amendment ), relating to the Term Loan Agreement, dated as of March 25, 2015 (as amended, the Term Loan Agreement ) referred to therein, (b) consents to the Amendment and each of the transactions referenced therein, (c) reaffirms its obligations under the Guaranty and (d) agrees that all references therein or in any other Loan Document to the Term Loan Agreement shall mean and be a reference to the Term Loan Agreement as amended by the Amendment. Capitalized terms used herein, but not otherwise defined herein, shall have the meanings ascribed to such terms in the Term Loan Agreement, as amended by the Amendment. Although the Guarantors have been informed of the matters set forth herein and have acknowledged and consented to same, each Guarantor understands that neither the Administrative Agent nor any Lender has any obligation to inform the Guarantors of such matters in the future or to seek any Guarantors acknowledgment or consent to future amendments or waivers, and nothing herein shall create such a duty.
[signature page follows]
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[Signature Page to Affirmation of Guaranty]
TERADATA INTERNATIONAL, INC., a Delaware corporation | ||
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Title: |
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TERADATA OPERATIONS, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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TERADATA US, INC., a Delaware corporation | ||
By: |
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Name: |
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Title: |
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[Signature Page to Affirmation of Guaranty]