Exhibit 10.43
EXECUTION COPY
FIRST AMENDMENT TO CREDIT AGREEMENT
     THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of October 13, 2006
(this “Amendment”), to the Existing Credit Agreement (as defined below) is made
by ASYST TECHNOLOGIES, INC., a California corporation, and ASYST JAPAN, INC., a
Japanese corporation (collectively, the “Borrowers”) and certain of the Lenders
(such capitalized term and other capitalized terms used in this preamble and the
recitals below to have the meanings set forth in, or are defined by reference
in, Article I below).
W I T N E S S E T H:
     WHEREAS, the Borrowers, the Lenders and Bank of America, N.A., as
Administrative Agent, are all parties to the Credit Agreement, dated as of
June 22, 2006 (as amended or otherwise modified prior to the date hereof, the
“Existing Credit Agreement”, and as amended by this Amendment and as the same
may be further amended, supplemented, amended and restated or otherwise modified
from time to time, the “Credit Agreement”); and
     WHEREAS, the Borrowers have requested that the Lenders amend certain
provisions of the Existing Credit Agreement and the Lenders are willing, on the
terms and subject to the conditions hereinafter set forth, to modify the
Existing Credit Agreement as set forth below;
     NOW, THEREFORE, the parties hereto hereby covenant and agree as follows:
ARTICLE I
DEFINITIONS
     SECTION 1.1. Certain Definitions. The following terms when used in this
Amendment shall have the following meanings (such meanings to be equally
applicable to the singular and plural forms thereof):
     “Amendment” is defined in the preamble.
     “Amendment Effective Date” is defined in Article III.
     “Borrowers” is defined in the preamble.
     “Credit Agreement” is defined in the first recital.
     “Existing Credit Agreement” is defined in the first recital.

 

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     SECTION 1.2. Other Definitions. Terms for which meanings are provided in
the Credit Agreement are, unless otherwise defined herein or the context
otherwise requires, used in this Amendment with such meanings.
ARTICLE II
AMENDMENTS TO CREDIT AGREEMENT
     Subject to the occurrence of the Amendment Effective Date, the provisions
of the Existing Credit Agreement referred to below are hereby amended in
accordance with this Article II. Except as expressly so amended, the Existing
Credit Agreement shall continue in full force and effect in accordance with its
terms.
     SECTION 2.1. Amendments to Section 1.01. Section 1.01 of the Existing
Credit Agreement is hereby amended as follows:
     (a) The definition of “Applicable Rate” is hereby amended by (i) deleting
the date “June 30, 2006” set forth in clause (a) thereof and inserting the date
“September 30, 2006” in lieu thereof and (ii) inserting the text “; provided
further that if Consolidated EBITDA as of the four fiscal quarter period ended
September 30, 2006 is less than $50,000,000, the Applicable Rate shall be equal
to the Applicable Rate then in effect plus 0.25% (it being understood and agreed
that, except as otherwise provided therein, any and all changes to Applicable
Rate set forth in the provisos to this sentence shall be cumulative)”
immediately following the second proviso contained therein. This amendment shall
be effective for all determinations of the Applicable Rate made on and after the
Closing Date.
     (b) Clause (a) of the definition of “Consolidated EBITDA” is hereby amended
by deleting the word “and” immediately prior to clause (iii) of such clause
(a) and inserting the text “and (iv) any non-cash income expense determined
pursuant to FAS 123R” immediately following such clause. This amendment shall be
effective for all calculations of Consolidated EBITDA made on and after the
Closing Date.
     (c) The definition of “Consolidated Senior Leverage Ratio” is hereby
amended in its entirety to read as follows:
“Consolidated Senior Leverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated Senior Indebtedness as of such date minus, solely with
respect to the determination of the Consolidated Senior Leverage Ratio for the
fiscal quarter ended September 30, 2006 for purposes of determining compliance
with Section 7.11(b), cash and Cash Equivalents of the Company and its
Subsidiaries on a consolidated basis as of such date in excess of $70,000,000,
to (b) Consolidated EBITDA of

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the Company and its Subsidiaries on a consolidated basis for the most recently
completed Measurement Period;
     (d) The definition of “Consolidated Total Leverage Ratio” is hereby amended
in its entirety to read as follows:
“Consolidated Total Leverage Ratio” means, as of any date of determination, the
ratio of (a) Consolidated Funded Indebtedness as of such date minus, solely with
respect to the determination of the Consolidated Total Leverage Ratio for the
fiscal quarter ended September 30, 2006 for purposes of determining compliance
with Section 7.11(a), cash and Cash Equivalents of the Company and its
Subsidiaries on a consolidated basis as of such date in excess of $70,000,000,
to (b) Consolidated EBITDA of the Company and its Subsidiaries on a consolidated
basis for the most recently completed Measurement Period;
     SECTION 2.2. Amendment to Section 7.11. Section 7.11 of the Existing Credit
Agreement is hereby amended by inserting the following “clause (d)” immediately
following clause (c) thereof:
(d) Minimum Consolidated EBITDA. Permit Consolidated EBITDA as of the four
fiscal quarter period ended September 30, 2006 to be less than $48,500,000.
     SECTION 2.3. Compliance Certificate. The Compliance Certificate is hereby
amended in its entirety to read as set forth in Exhibit A.
ARTICLE III
CONDITIONS TO EFFECTIVENESS
     This Amendment shall become effective on the date (the “Amendment Effective
Date”) when the Administrative Agent shall have received counterparts hereof
executed on behalf of the Borrowers and the Lenders.
ARTICLE IV
MISCELLANEOUS
     SECTION 4.1. Cross-References. References in this Amendment to any Article
or Section are, unless otherwise specified, to such Article or Section of this
Amendment.

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     SECTION 4.2. Loan Document Pursuant to Existing Credit Agreement. This
Amendment is a Loan Document executed pursuant to the Existing Credit Agreement
and shall (unless otherwise expressly indicated therein) be construed,
administered and applied in accordance with all of the terms and provisions of
the Existing Credit Agreement, as amended hereby, including Article X thereof.
     SECTION 4.3. Successors and Assigns. This Amendment shall be binding upon
and inure to the benefit of the parties hereto and their respective successors
and assigns.
     SECTION 4.4. Counterparts. This Amendment may be executed by the parties
hereto in several counterparts, each of which when executed and delivered shall
be an original and all of which shall constitute together but one and the same
agreement. Delivery of an executed counterpart of a signature page to this
Amendment by facsimile shall be effective as delivery of a manually executed
counterpart of this Amendment.
     SECTION 4.5. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK.
     SECTION 4.6. Full Force and Effect; Limited Amendment. Except as expressly
amended hereby, all of the representations, warranties, terms, covenants,
conditions and other provisions of the Existing Credit Agreement and the Loan
Documents shall remain unchanged and shall continue to be, and shall remain, in
full force and effect in accordance with their respective terms. The amendments
set forth herein shall be limited precisely as provided for herein to the
provisions expressly amended herein and shall not be deemed to be an amendment
to, waiver of, consent to or modification of any other term or provision of the
Existing Credit Agreement or any other Loan Document or of any transaction or
further or future action on the part of any Loan Party which would require the
consent of the Lenders under the Existing Credit Agreement or any of the Loan
Documents.
     SECTION 4.7. Representations and Warranties. In order to induce the Lenders
to execute and deliver this Amendment, the Borrowers hereby represent and
warrant to the Lenders, on the Amendment Effective Date, after giving effect to
this Amendment, all statements set forth in clauses (a) and (b) of Section 4.02
of the Credit Agreement are true and correct as of such date, except to the
extent that any such statement expressly relates to an earlier date (in which
case such statement was true and correct on and as of such earlier date).

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     IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date first above written.

            ASYST TECHNOLOGIES, INC.
      By:   /s/ Stephen S. Schwartz         Name:           Title:        

            ASYST JAPAN, INC.
      By:   /s/ Stephen S. Schwartz         Name:           Title:      

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            Acknowledged by

BANK OF AMERICA, N.A.,
as Administrative Agent
      By:   /s/ Ken Puro         Name:   Ken Puro        Title:   Vice
President     

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                  BANK OF AMERICA, N.A.,         as a Lender, L/C Issuer and
Swing Line Lender    
 
           
 
  By:
Name:   /s/ Lee A. Merkle-Raymond
 
Lee A. Merkle-Raymond    
 
  Title:   Managing Director    

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                  COMERICA BANK,         as a Lender    
 
           
 
  By:
Name:   /s/ Stephanie Karic
 
Stephanie Karic    
 
  Title:   Vice President    

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                  KEYBANK NATIONAL ASSOCIATION         as a Lender    
 
           
 
  By:
Name:   /s/ Kevin D. Smith
 
Kevin D. Smith    
 
  Title:   Senior Vice President    

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                  UNION BANK OF CALIFORNIA, N.A.         as a Lender    
 
           
 
  By:
Name:   /s/ Allan B. Miner
 
Allan B. Miner    
 
  Title:   Vice President    

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                  DEVELOPMENT BANK OF JAPAN         as a Lender    
 
           
 
  By:
Name:   /s/ Z. Yamazaki
 
Zenya Yamazaki    
 
  Title:   Director General    
 
      Department for International Affairs    

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EXHIBIT A
Compliance Certificate

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FORM OF COMPLIANCE CERTIFICATE
Financial Statement Date:                     ,
To:      Bank of America, N.A., as Administrative Agent
Ladies and Gentlemen:
          Reference is made to that certain Credit Agreement, dated as of
June 22, 2006 (as amended, restated, extended, supplemented or otherwise
modified in writing from time to time, the “Agreement;” the terms defined
therein being used herein as therein defined), among Asyst Technologies, Inc., a
California corporation (the “Company”) and Asyst Japan, Inc., a Japanese
corporation, the Designated Borrowers from time to time party thereto, the
Lenders from time to time party thereto, and Bank of America, N.A., as
Administrative Agent, L/C Issuer and Swing Line Lender.
          The undersigned Responsible Officer1, acting in such capacity and
position on behalf of the Company, hereby certifies as of the date hereof that
he/she is the                                                              of
the Company, and that, as such, he/she is authorized to execute and deliver this
Certificate to the Administrative Agent on the behalf of the Company, and that:
[Use following paragraph 1 for fiscal year-end financial
statements]
          1. Attached hereto as Schedule 1 are the year-end audited financial
statements required by Section 6.01(a) of the Agreement for the fiscal year of
the Company ended as of the above date, together with the report and opinion of
an independent certified public accountant required by such section.
[Use following paragraph 1 for fiscal quarter-end financial
statements]
          1. Attached hereto as Schedule 1 are the unaudited financial
statements required by Section 6.01(b) of the Agreement for the fiscal quarter
of the Company ended as of the above date. Such financial statements fairly
present the financial condition, results of operations and cash flows of the
Company and its Subsidiaries in accordance with GAAP as at such date and for
such period, subject only to normal year-end audit adjustments and the absence
of footnotes.
          2. The undersigned has reviewed and is familiar with the terms of the
Agreement and has made, or has caused to be made under his/her supervision, a
detailed review
 

1   This Certificate should be from the Chief Executive Officer or Treasurer of
the Company.

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of the transactions and condition (financial or otherwise) of the Company during
the accounting period covered by the attached financial statements.
          3. A review of the activities of the Company during such fiscal period
has been made under the supervision of the undersigned with a view to
determining whether during such fiscal period the Company performed and observed
all its Obligations under the Loan Documents, and
[select one:]
          [to the best knowledge of the undersigned during such fiscal period,
the Company performed and observed each covenant and condition of the Loan
Documents applicable to it, and no Default has occurred and is continuing.]
—or—
          [the following covenants or conditions have not been performed or
observed and the following is a list of each such Default and its nature and
status:]
          4. The representations and warranties of the Borrowers contained in
Article V of the Agreement and (ii) each Loan Party contained in each other Loan
Document or in any document furnished at any time under or in connection with
the Loan Documents, are true and correct on and as of the date hereof, 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 except that for purposes of this Compliance Certificate, the representations
and warranties contained in clauses (a) and (b) of Section 5.05 of the Agreement
shall be deemed to refer to the most recent statements furnished pursuant to
clauses (a) and (b), respectively, of Section 6.01 of the Agreement, including
the statements in connection with which this Compliance Certificate is
delivered.
          5. The financial covenant analyses and information set forth on
Schedules 2 and 3 attached hereto are true and accurate on and as of the date of
this Certificate. The line item descriptions on the attached Schedules 2 and 3
are in summary form for ease of use only and the provisions of the related
definitions shall control.

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          IN WITNESS WHEREOF, the undersigned has executed this Certificate as
of                                         ,                     .

                  ASYST TECHNOLOGIES, INC.    
 
           
 
  By:        
 
  Name:  
 
   
 
  Title:  
 
   
 
     
 
   

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For the Quarter/Year ended ___________________, ____ (“Statement Date”)
SCHEDULE 2
TO THE COMPLIANCE CERTIFICATE
($ IN 000’S)

                  I.   Section 7.11(a) – Consolidated Total Leverage Ratio.    
   
 
               
 
  A.   Consolidated Funded Indebtedness at Statement Date   $
                      
 
               
 
  B.   Consolidated EBITDA for Measurement Period ending on above date (“Subject
Period”):   $                       
 
               
 
      1. Consolidated Net Income for Subject Period:   $                       
 
               
 
      2. Consolidated Interest Charges for Subject Period:   $
                      
 
               
 
      3. Provision for income taxes for Subject Period:   $                     
 
 
               
 
      4. Depreciation expenses for Subject Period:   $                       
 
               
 
      5. Amortization expenses for Subject Period:   $                       
 
               
 
      6. Income Tax credits for Subject Period:   $                       
 
               
 
      8. Consolidated EBITDA (Lines II.A.1 + 2 + 3 + 4 + 5 – 6):   $
                      
 
               
 
  C.   Consolidated Total Leverage Ratio (Line I.A ¸ Line I.B):  
                     to 1
 
               
 
      Maximum permitted:        

              Maximum Consolidated Total Four Fiscal Quarters Ending   Leverage
Ratio  
Closing Date through June 29, 2006
    3.75:1  
June 30, 2006 and each fiscal quarter thereafter
    3.50  

                  II.   Section 7.11 (b) – Consolidated Senior Leverage Ratio.  
     
 
               
 
  A.   Consolidated Senior Indebtedness at Statement Date   $
                      
 
               
 
  B.   Consolidated EBITDA for Subject Period (Line I.B.9 above):   $
                      
 
               
 
  C.   Consolidated Senior Leverage Ratio (Line II.A ¸ Line II.B):  
                     to 1
 
               
 
      Maximum permitted:        

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              Maximum Consolidated Senior Four Fiscal Quarters Ending   Leverage
Ratio  
Closing Date through December 30, 2006
    2.25:1  
December 31, 2006 and each fiscal quarter thereafter
    2.00:1  

                  III.   Section 7.11(c) — Consolidated Fixed Charge Coverage
Ratio        
 
               
 
  A.   Consolidated EBITDA for Subject Period (Line I.B.9 above):   $
                      
 
               
 
  B.   Cash Capital Expenditures for Subject Period:   $                       
 
               
 
  C.   Federal, State, Local and Foreign Cash Income Taxes   $
                      
 
               
 
  D.   Consolidated Interest Charges for Subject Period:   $
                      
 
               
 
  E.   Scheduled Principal payments, etc. for Subject Period:   $
                      
 
               
 
  F.   Consolidated Fixed Charge Coverage Ratio ([Line III.A – Line III.B – Line
III.C] ¸ [Line III.D + Line III.E]):                           
 
               
 
      Minimum required:        

              Minimum Consolidated Fixed Four Fiscal Quarters Ending   Charge
Coverage Ratio  
Closing Date through December 30, 2006
    2.00:1  
December 31, 2006 and each fiscal quarter thereafter
    2.50:1  

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                  IV.   Section 7.11 — Capital Expenditures.        
 
               
 
  A.   Capital Expenditures made during fiscal year to date:   $
                      
 
               
 
  B.   Maximum permitted Capital Expenditures
($                                        :   $                       
 
               
 
  C.   Excess (deficient) for covenant compliance (Line IV.B – IV.A):   $
                      

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For the Quarter/Year ended ___________________ (“Statement Date”)
SCHEDULE 3
TO THE COMPLIANCE CERTIFICATE
($ IN 000’S)
CONSOLIDATED EBITDA
(IN ACCORDANCE WITH THE DEFINITION OF CONSOLIDATED EBITDA
AS SET FORTH IN THE AGREEMENT)

                                                                             
Twelve   Consolidated   Quarter     Quarter     Quarter     Quarter     Months  
EBITDA   Ended     Ended     Ended     Ended     Ended  
Consolidated Net Income
                                       
 
                                       
+ Consolidated Interest Charges
                                       
 
                                       
+ income taxes
                                       
 
                                       
+ depreciation expense
                                       
 
                                       
+ amortization expense
                                       
 
                                       
- income tax credits
                                       
 
                                       
= Consolidated EBITDA
                                       

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