Exhibit 10.1

 

FOURTH AMENDMENT TO

RECEIVABLES PURCHASE AGREEMENT

 

THIS FOURTH AMENDMENT TO RECEIVABLES PURCHASE AGREEMENT, dated as of December
10, 2003 (this “Amendment”), is entered into by and among ARCH CHEMICALS
RECEIVABLES CORP., as seller (the “Seller”), ARCH CHEMICALS, INC., as the
servicer (the “Servicer”), BLUE RIDGE ASSET FUNDING CORPORATION, as a purchaser
(“Blue Ridge”) and WACHOVIA BANK, NATIONAL ASSOCIATION (f/k/a Wachovia Bank,
N.A.), as the Agent. Capitalized terms used and not otherwise defined herein are
used as defined in the Agreement (as defined below and amended hereby).

 

WHEREAS, the parties hereto have entered into that certain Receivables Purchase
Agreement, dated as of March 19, 2002 (as amended, restated, supplemented or
otherwise modified to the date hereof, the “Agreement”);

 

WHEREAS, the parties hereto desire to amend the Agreement in certain respects as
hereinafter set forth;

 

NOW THEREFORE, in consideration of the premises and the other mutual covenants
contained herein, the parties hereto agree as follows:

 

Section 1.1 Amendments.

 

Clause (i) of the definition of “Liquidity Termination Date” is hereby deleted
and replaced with the following:

 

“(i) the earlier of (A) April 15, 2004 or such later date as the Liquidity Banks
may agree in their sole discretion, but not later than 364 days following the
then Purchase Termination Date (as such term is defined in the Liquidity
Agreement) and (B) the date on which the Liquidity Bank’s Liquidity Commitments
otherwise cease to be available to Blue Ridge or otherwise cease to be in full
force and effect; or”

 

Section 1.2 Reference to and Effect on the Agreement and the Related Documents.

 

(a) Upon the effectiveness of this Amendment, (i) each of the Seller Parties
hereby reaffirms all representations and warranties made by it in Article V of
the Agreement (as amended hereby) and agrees that all such covenants,
representations and warranties shall be deemed to have been remade as of the
effective date of this Amendment, (ii) each of the Seller Parties hereby
represents and warrants that no Amortization Event or Unmatured Amortization
Event shall have occurred and be continuing and (iii) each reference in the
Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like
import shall mean and be, and any references to the Agreement in any other
document, instrument or agreement executed and/or

 

--------------------------------------------------------------------------------

delivered in connection with the Agreement shall mean and be, a reference to the
Agreement as amended hereby.

 

(b) The Seller hereby agrees that in addition to any costs otherwise required to
be paid pursuant to the Transaction Documents, the Seller shall pay the
reasonable legal fees and out-of pocket expenses of the Agent’s counsel, Hunton
& Williams, and all audit fees and due diligence costs incurred by the Agent in
connection with the consummation of this Amendment.

 

Section 1.3 Effectiveness and Effect.

 

This Amendment shall be effective on the day (the “Amendment Effective Date”) on
which the last to occur of the following: (i) execution by the Seller Parties of
this Amendment, (ii) execution of the Second Amended and Restated Fee Letter,
dated the date hereof, by each of the Seller Parties and (iii) payment of all
amounts required to be paid to the Agent on the Amendment Effective Date under
the Amended and Restated Fee Letter. Except as otherwise amended by this
Amendment, the Agreement shall continue in full force and effect and is hereby
ratified and confirmed.

 

Section 1.4 Governing Law.

 

This Amendment will be governed by and construed in accordance with the laws of
the State of New York.

 

Section 1.5 Severability.

 

Each provision of this Amendment shall be severable from every other provision
of this Amendment for the purpose of determining the legal enforceability of any
provision hereof, and the unenforceability of one or more provisions of this
Amendment in one jurisdiction shall not have the effect of rendering such
provision or provisions unenforceable in any other jurisdiction.

 

Section 1.6 Counterparts.

 

This Amendment may be executed in one or more counterparts, each of which shall
be deemed to be an original, but all of which together shall constitute one and
the same instrument. Delivery of an executed counterpart of a signature page by
facsimile shall be effective as delivery of a manually executed counterpart of
this Amendment.

 

-2-

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.

 

ARCH CHEMICALS RECEIVABLES CORP.,

as the Seller

By:

 

/s/    W. Paul Bush

   

--------------------------------------------------------------------------------

Name:

  W. Paul Bush

Title:

  VP & Treasurer

ARCH CHEMICALS, INC.,

as the Servicer

By:

 

/s/    W. Paul Bush

--------------------------------------------------------------------------------

Name:

  W. Paul Bush

Title:

  VP & Treasurer

 

[additional signatures to follow]

 

--------------------------------------------------------------------------------

BLUE RIDGE ASSET FUNDING CORPORATION,

as a Purchaser

by  Wachovia Capital Markets, LLC,

      as Attorney-in-Fact

By:

 

/s/    Douglas R. Wilson, Sr.

   

--------------------------------------------------------------------------------

Name:

  Douglas R. Wilson, Sr.

Title:

  Vice President

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Agent

By:

 

/s/    Victoria A. Dudley

--------------------------------------------------------------------------------

Name:

  Victoria A. Dudley

Title:

  Managing Director

 

[end of signatures]