Exhibit 10.1

EXECUTION VERSION

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

This Second Amendment to Term Loan Agreement (this “Amendment”) dated as of
May 17, 2018, is made by and among NORDSON CORPORATION, an Ohio corporation (the
“Borrower”), each of the financial institutions party hereto (the “Lenders”),
and PNC BANK, NATIONAL ASSOCIATION, in its capacity as a Lender and as
administrative agent for the Lenders (in such capacity as administrative gent,
the “Agent”).

WITNESSETH:

WHEREAS, the Borrower, Agent and Lenders are parties to that certain Term Loan
Agreement with an Effective Date of February 21, 2017 and a Closing Date of
March 31, 2017 (as amended by that certain First Amendment and Joinder to Term
Loan Agreement dated as of March 31, 2017 and as further amended, restated,
supplemented or otherwise modified from time to time, the “Loan Agreement”),
pursuant to which the Lenders have made the Loans available to the Borrower
subject to the terms and conditions set forth in the Loan Agreement;

WHEREAS, the Borrower has requested the Agent and the Lenders to amend the Loan
Agreement to extend the Eighteen Month Term Loan Maturity Date to September 30,
2021;

WHEREAS, the Agent and the Lenders are agreeable to amend the Loan Agreement
subject to the terms and conditions set forth in this Amendment; and

NOW, THEREFORE, in consideration of the premises and further valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

1. Definitions. Capitalized terms not otherwise defined in this Amendment have
the respective meanings assigned thereto in the Loan Agreement.

2. Amendments to Loan Agreement. Subject to the terms and conditions set forth
herein, and in reliance upon the representations and warranties of the Borrower
made herein, the Loan Agreement is amended as follows:

(a) Section 1.01 of the Loan Agreement, Definitions, is hereby amended by adding
the following new definitions in proper alphabetical order:

“Benefit Plan” shall mean any of (a) an “employee benefit plan” (as defined in
ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in
Section 4975 of the Code or (c) any Person whose assets include (for purposes of
ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or
Section 4975 of the Code) the assets of any such “employee benefit plan” or
“plan”.

“LIBOR Termination Date” shall have the meaning given to such term in
Section 3.03(b).

 

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“PTE” shall mean a prohibited transaction class exemption issued by the U.S.
Department of Labor, as any such exemption may be amended from time to time.

“Second Amendment Fee Letter” means that certain fee letter agreement dated as
of April 24, 2018 by and among Borrower, PNC Capital Markets and Agent.

(b) Section 1.01 of the Loan Agreement, Definitions, is hereby amended by
amending and restating the following definitions in their entirety as follows:

“Eighteen Month Term Loan Maturity Date” shall mean September 30, 2021.

“Loan Documents” shall mean, collectively, this Agreement, each Note, each
Guaranty of Payment, the Fee Letter, the Second Amendment Fee Letter and any
other documents relating to any of the foregoing, as any of the foregoing may
from time to time be amended, restated or otherwise modified or replaced.

(c) Section 2.05 of the Loan Agreement, Fees, is hereby amended and restated in
its entirety as follows:

Section 2.05 Fees. Borrower shall pay the fees set forth in the Fee Letter and
the Second Amendment Fee Letter.

(d) Section 3.03 of the Loan Agreement, Eurodollar Deposits Unavailable or
Interest Rate Unascertainable, is hereby amended and restated in its entirety as
follows:

Section 3.03 Eurodollar Deposits Unavailable or Interest Rate Unascertainable.

(a) In respect of any Eurodollar Loan, in the event that Agent shall have
determined that for Eurodollar Loans, that Dollar deposits in the relevant
amount for the relevant Interest Period for such Eurodollar Loan are not
available to Agent in the applicable Eurodollar market, or that, by reason of
circumstances affecting such market, adequate and reasonable means do not exist
for ascertaining the applicable LIBOR Rate applicable to such Interest Period,
as the case may be, Agent shall promptly give notice of such determination to
Borrower and (i) any notice of a conversion of an existing Base Rate Loan to a
Eurodollar Loan shall be deemed a notice to continue a Base Rate Loan, and
(ii) Borrower shall be obligated either to prepay, or with respect to a
Eurodollar Loan, to convert to a Base Rate Loan, any outstanding Eurodollar Loan
on the last day of the then current Interest Period with respect thereto.

 

  (b)

If Agent determines (which determination shall be final and conclusive, absent
manifest error) that either (i) (x) the circumstances set forth in
Section 3.03(a) have arisen and are unlikely to be temporary, or (y) the
circumstances set forth in Section 3.03(a) have not arisen but the applicable
supervisor or administrator (if any) of the LIBOR Rate or a Governmental
Authority having jurisdiction over Agent has made a public statement identifying
the specific date after which the LIBOR Rate shall no longer be used for
determining interest rates for loans (either such date, a “LIBOR Termination
Date”), or (ii) a rate other than the LIBOR Rate has become a widely recognized
benchmark rate for newly originated loans in Dollars in the U.S. market, then
Agent may (in consultation

 

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  with the Borrower) choose a replacement index for the LIBOR Rate and make
adjustments to applicable margins and related amendments to this Agreement as
referred to below such that, to the extent practicable, the all-in interest rate
based on the replacement index will be substantially equivalent to the all-in
LIBOR Rate-based interest rate in effect prior to its replacement. Agent and the
Borrower shall enter into a mutually agreeable amendment to this Agreement to
reflect the replacement index, the adjusted margins and such other related
amendments as may be appropriate, in the reasonable discretion of Agent, for the
implementation and administration of the replacement index-based rate, but no
other substantive matters unless agreed to by Borrower, Agent and the requisite
Lenders. Notwithstanding anything to the contrary in this Agreement or the other
Loan Documents (including, without limitation, Section 10.03), such amendment
shall become effective without any further action or consent of any other party
to this Agreement at 5:00 p.m. Cleveland, Ohio time on the tenth (10th) Business
Day after the date a draft of the amendment is provided to the Lenders, unless
Agent receives, on or before such tenth (10th) Business Day, a written notice
from the Required Lenders stating that such Lenders object to such amendment.
Selection of the replacement index, adjustments to the applicable margins, and
amendments to this Agreement (i) will be determined with due consideration to
the then-current market practices for determining and implementing a rate of
interest for newly originated loans in the United States and loans converted
from a LIBOR Rate-based rate to a replacement index-based rate, and (ii) may
also reflect adjustments to account for (x) the effects of the transition from
the LIBOR Rate to the replacement index and (y) yield- or risk-based differences
between the LIBOR Rate and the replacement index. Until an amendment reflecting
a new replacement index in accordance with this Section 3.03(b) is effective,
each advance, conversion and renewal of an Eurodollar Loan will continue to bear
interest with reference to the LIBOR Rate; provided however, that if Agent
determines (which determination shall be final and conclusive, absent manifest
error) that a LIBOR Termination Date has occurred, then following the LIBOR
Termination Date, all Eurodollar Loans shall automatically be converted to the
Base Rate Loans until such time as an amendment reflecting a replacement index
and related matters as described above is implemented. Notwithstanding anything
to the contrary contained herein, if at any time the replacement index is less
than zero, at such times, such index shall be deemed to be zero for purposes of
this Agreement.

(e) Article IX of the Loan Agreement, The Agent, is hereby amended by adding the
new following Section 9.14 at the end of such Article:

Section 9.14 Certain ERISA Matters.

(a) Each Lender (x) represents and warrants, as of the date such Person became a
Lender party hereto, to, and (y) covenants, from the date such Person became a
Lender party hereto to the date such Person ceases being a Lender party hereto,
for the benefit of, Agent and the Joint Lead Arrangers and their respective
Affiliates, and not, for the avoidance of doubt, to or for the benefit of
Borrower, that at least one of the following is and will be true:

 

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(i) such Lender is not using “plan assets” (within the meaning of 29 CFR §
2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans
in connection with the Loans or the Commitments,

(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14
(a class exemption for certain transactions determined by independent qualified
professional asset managers), PTE 95-60 (a class exemption for certain
transactions involving insurance company general accounts), PTE 90-1 (a class
exemption for certain transactions involving insurance company pooled separate
accounts), PTE 91-38 (a class exemption for certain transactions involving bank
collective investment funds) or PTE 96-23 (a class exemption for certain
transactions determined by in-house asset managers), is applicable with respect
to such Lender’s entrance into, participation in, administration of and
performance of the Loans, the Commitments and this Agreement,

(iii) (A) such Lender is an investment fund managed by a “Qualified Professional
Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified
Professional Asset Manager made the investment decision on behalf of such Lender
to enter into, participate in, administer and perform the Loans, the Commitments
and this Agreement, (C) the entrance into, participation in, administration of
and performance of the Loans, the Commitments and this Agreement satisfies the
requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to
the best knowledge of such Lender, the requirements of subsection (a) of Part I
of PTE 84-14 are satisfied with respect to such Lender’s entrance into,
participation in, administration of and performance of the Loans, the
Commitments and this Agreement, or

(iv) such other representation, warranty and covenant as may be agreed in
writing between Agent, in its sole discretion, and such Lender.

(b) In addition, unless sub-clause (i) in the immediately preceding clause
(a) is true with respect to a Lender or such Lender has not provided another
representation, warranty and covenant as provided in sub-clause (iv) in the
immediately preceding clause (a), such Lender further (x) represents and
warrants, as of the date such Person became a Lender party hereto, to, and
(y) covenants, from the date such Person became a Lender party hereto to the
date such Person ceases being a Lender party hereto, for the benefit of, Agent
and the Joint Lead Arrangers and their respective Affiliates, and not, for the
avoidance of doubt, to or for the benefit of Borrower, that:

(i) none of Agent or the Joint Lead Arrangers or any of their respective
Affiliates is a fiduciary with respect to the assets of such Lender (including
in connection with the reservation or exercise of any rights by Agent under this
Agreement, any Loan Document or any documents related to hereto or thereto),

(ii) the Person making the investment decision on behalf of such Lender with
respect to the entrance into, participation in, administration of and
performance of the Loans, the Commitments and this Agreement is independent
(within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier,
an investment adviser, a broker-dealer or other person that holds, or has under
management or control, total assets of at least $50 million, in each case as
described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E),

 

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(iii) the Person making the investment decision on behalf of such Lender with
respect to the entrance into, participation in, administration of and
performance of the Loans, the Commitments and this Agreement is capable of
evaluating investment risks independently, both in general and with regard to
particular transactions and investment strategies (including in respect of the
Loans),

(iv) the Person making the investment decision on behalf of such Lender with
respect to the entrance into, participation in, administration of and
performance of the Loans, the Commitments and this Agreement is a fiduciary
under ERISA or the Code, or both, with respect to the Loans, the Commitments and
this Agreement and is responsible for exercising independent judgment in
evaluating the transactions hereunder, and

(v) no fee or other compensation is being paid directly to the Agent or Joint
Lead Arrangers or any their respective Affiliates for investment advice (as
opposed to other services) in connection with the Loans, the Commitments or this
Agreement.

Agent and the Joint Lead Arrangers hereby inform the Lenders that each such
Person is not undertaking to provide impartial investment advice, or to give
advice in a fiduciary capacity, in connection with the transactions contemplated
hereby, and that such Person has a financial interest in the transactions
contemplated hereby in that such Person or an Affiliate thereof (i) may receive
interest or other payments with respect to the Loans, the Commitments and this
Agreement, (ii) may recognize a gain if it extended the Loans, or the
Commitments for an amount less than the amount being paid for an interest in the
Loans or the Commitments by such Lender or (iii) may receive fees or other
payments in connection with the transactions contemplated hereby, the Loan
Documents or otherwise, including structuring fees, commitment fees, arrangement
fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees,
administrative agent or collateral agent fees, utilization fees, minimum usage
fees, letter of credit fees, fronting fees, deal-away or alternate transaction
fees, amendment fees, processing fees, term out premiums, banker’s acceptance
fees, breakage or other early termination fees or fees similar to the foregoing.

(f) Section 10.03 of the Loan Agreement, Amendments; Consents, is hereby amended
by amending and restating clause (ii) of the proviso as follows:

(ii) the Fee Letter or the Second Amendment Fee Letter may be amended, modified
or rights or privileges thereunder waived, in a writing executed only by the
parties thereto.

3. Effectiveness; Conditions Precedent. The effectiveness of this Amendment and
the amendments to the Loan Agreement contained herein are subject to:

 

  (a) the Agent’s receipt of one or more counterparts of this Amendment, duly
executed by the Borrower, the Agent and the Lenders;

 

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  (b) the representations and warranties contained in Section 4 herein are true
and correct pursuant to the terms thereof;

 

  (c) payment to the Agent, for the account of each Lender that executes and
delivers a signature page to this Amendment to the Agent, an amendment fee,
which fee shall be equal to an amount of (i) 0.05% multiplied by (ii) the
aggregate outstanding principal amount of Eighteen Month Term Loans of such
Lender immediately prior to the effectiveness of the Amendment; and

 

  (d) payment of all other fees and expenses payable on the effective date of
this Amendment (including, without limitation, reasonable fees, charges and
disbursements of counsel for the Agent).

4. Representations and Warranties. In order to induce the Agent and the Lenders
to enter into this Amendment, the Borrower hereby represents and warrants as
follows as of the date hereof:

 

  (a) no Event of Default exists;

 

  (b) each of the representations and warranties contained in Article VI of the
Loan Agreement and in the other Loan Documents are true and correct in all
material respects (except such representations and warranties that are qualified
by materiality, which shall be true and correct in all respects) (except to the
extent that any such representations and warranties relates to an earlier date
or period, in which case such representations and warranties shall have been
true and correct in all material respects on and as of such earlier date or
period (except such representations and warranties that are qualified by
materiality, which shall be true and correct in all respects on and as of such
earlier date or period)); and

 

  (c) no change, occurrence or development shall have occurred since October 31,
2017, that has had or could reasonably be expected to have a material adverse
effect on the business, operations, property or condition (financial or
otherwise) of Borrower and its Subsidiaries taken as a whole.

5. Entire Agreement. This Amendment, together with all the Loan Documents
executed in connection herewith (collectively, the “Relevant Documents”), 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 relating to such subject matter. No promise,
condition, representation or warranty, express or implied, not set forth in the
Relevant Documents shall bind any party hereto, and no such party has relied on
any such promise, condition, representation or warranty. Each of the parties
hereto acknowledges that, except as otherwise expressly stated in the Relevant
Documents, no representations, warranties or commitments, express or implied,
have been made by any party to the other with respect to the subject matter
hereof. None of the terms or conditions of this Amendment may be changed,
modified, waived or canceled orally or otherwise, except in writing and in
accordance with Section 10.03 of the Loan Agreement.

 

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6. Full Force and Effect of Agreement; No Novation. Except as hereby
specifically amended, modified or supplemented herein, the Loan Agreement and
all other Loan Documents are hereby confirmed and ratified in all respects and
shall be and remain in full force and effect according to their respective
terms. The parties hereto acknowledge and agree that the amendments contained
herein do not constitute a novation of the Loan Agreement, the other Loan
Documents or the Indebtedness described therein, and shall not, in any case,
affect, diminish or abrogate the Borrower’s liability under the Loan Agreement
or any other Loan Document or the priority of the Loan Agreement or any other
Loan Document.

7. Reviewed by Attorneys. Borrower represents and warrants to the Agent and the
Lenders that it (a) understands fully the terms of this Amendment and the
consequences of the execution and delivery of this Amendment, (b) has been
afforded an opportunity to have this Amendment reviewed by, and to discuss this
Amendment and document executed in connection herewith with, such attorneys and
other persons as Borrower may wish, (c) has entered into this Amendment and
executed and delivered all documents in connection herewith of its own free will
and accord and without threat, duress or other coercion of any kind by any
Person and (d) is not relying upon oral representations or statements
inconsistent with the terms and provisions of this Amendment. The parties hereto
acknowledge and agree that neither this Amendment nor the other documents
executed pursuant hereto shall be construed more favorably in favor of one than
the other based upon which party drafted the same, it being acknowledged that
all parties hereto contributed substantially to the negotiation and preparation
of this Amendment and the other documents executed pursuant hereto or in
connection herewith.

8. Counterparts. This Amendment may be executed in any number of counterparts
and by different parties hereto in separate counterparts and by facsimile
signature, each of which when so executed and delivered shall be deemed to be an
original and all of which taken together shall constitute but one and the same
agreement.

9. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF OHIO AND THE RESPECTIVE RIGHTS AND
OBLIGATIONS OF BORROWER, AGENT AND THE LENDERS SHALL BE GOVERNED BY OHIO LAW,
WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS, AND SHALL BE FURTHER SUBJECT
TO THE PROVISIONS OF SECTION 10.15 OF THE LOAN AGREEMENT.

10. Severability Of Provisions; Captions; Attachments. Any provision of this
Amendment that is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof or
affecting the validity or enforceability of such provision in any other
jurisdiction. The several captions to Sections and subsections herein are
inserted for convenience only and shall be ignored in interpreting the
provisions of this Amendment. Each schedule or exhibit attached to this
Amendment shall be incorporated herein and shall be deemed to be a part hereof.

11. References. All references in any of the Loan Documents to the “Credit
Agreement” or “Loan Agreement” shall mean the Loan Agreement (as amended by this
Amendment), as further amended, modified, supplemented or restated from time to
time in accordance with the terms of the Loan Agreement.

 

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12. Binding Effect; Borrower’ Assignment. This Amendment shall be binding upon
and inure to the benefit of Borrower, Agent and each of the Lenders and their
respective successors and assigns, except that Borrower shall not have the right
to assign its rights hereunder or any interest herein without the prior written
consent of Agent and all of the Lenders.

[Signature pages follow.]

 

 

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IN WITNESS WHEREOF, the parties hereto have caused this instrument to be made,
executed and delivered by their duly authorized officers as of the day and year
first above written.

 

NORDSON CORPORATION, as Borrower

By:  

 

Name: Title:

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PNC BANK, NATIONAL ASSOCIATION, as Agent and a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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BANK OF AMERICA, N.A., as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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BRANCH BANKING AND TRUST COMPANY, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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KEYBANK NATIONAL ASSOCIATION, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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HSBC BANK USA, N.A., as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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COMMERZBANK AG, NEW YORK BRANCH, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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COMPASS BANK, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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BMO HARRIS BANK N.A., as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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MORGAN STANLEY BANK, N.A., as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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CHEMICAL BANK, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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FIRST NATIONAL BANK OF PENNSYLVANIA, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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CITIZENS BANK, N.A., as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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THE HUNTINGTON NATIONAL BANK, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE

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THE NORTHERN TRUST COMPANY, as a Lender

By:  

 

Name: Title:

 

SECOND AMENDMENT TO

TERM LOAN AGREEMENT

SIGNATURE PAGE