Exhibit 10.1
Execution Version
LIMITED CONSENT AND AMENDMENT NO. 5
TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT
     This Limited Consent and Amendment No. 5 to Third Amended and Restated
Credit Agreement, dated as of November 16, 2010 (this “Consent”), is entered
into by and among WESCO Distribution, Inc., a Delaware corporation (“WESCO
Distribution”), WESCO Equity Corporation, a Delaware corporation (“WESCO
Equity”), WESCO Nevada, Ltd., a Nevada corporation (“WESCO Nevada”),
Carlton-Bates Company, an Arkansas corporation (“Carlton-Bates”), Communications
Supply Corporation, a Connecticut corporation (“CSC”), Calvert Wire & Cable
Corporation, a Delaware corporation (“Calvert”), Bruckner Supply Company, Inc.,
a Delaware corporation (“Bruckner”) and Liberty Wire & Cable, Inc., a Delaware
corporation (“Liberty” and, together with WESCO Distribution, WESCO Equity,
WESCO Nevada, Carlton-Bates, CSC, Calvert and Bruckner, the “US Borrowers” and
each individually as a “US Borrower”); WESCO Distribution Canada LP, an Ontario
limited partnership (“WESCO DC LP” or “Canadian Borrower” and, together with the
US Borrowers, the “Borrowers”, and each individually, a “Borrower”); the other
Credit Parties; General Electric Capital Corporation, a Delaware corporation (in
its individual capacity, “GE Capital”), for itself, as a US Lender, and as Agent
for US Lenders with respect to Loans and other credit made available to US
Borrowers and as an agent for Canadian Agent and all Lenders with respect to
Collateral owned by a US Credit Party; GE Canada Finance Holding Company, a Nova
Scotia unlimited liability company (“GE Capital Canada”), as a Canadian Lender
and as Canadian Agent (Canadian Agent and Agent being defined as the “Agents”)
for Loans and other credit made available to Canadian Borrowers and as agent for
Canadian Lenders with respect to Collateral owned by the Canadian Credit
Parties; the other US Lenders that are parties hereto and the other Canadian
Lenders that are parties hereto.
RECITALS
     A. Borrowers, the other Credit Parties, Agents and Lenders are parties to
that certain Third Amended and Restated Credit Agreement, dated as of
November 1, 2006, including all annexes, exhibits and schedules thereto (as
amended, supplemented or otherwise modified in writing to date and as from time
to time hereafter further amended, restated, supplemented or otherwise modified
in writing, the “Credit Agreement”).
     B. Borrowers and the other Credit Parties have requested that Agents and
Lenders consent to certain transactions as described below in this Consent and
Agents and Lenders are willing to do so as and to the extent, and solely as and
to the extent, and subject to the terms and conditions, including, without
limitation, those set forth in Section 4 with respect to the effectiveness, if
any, of this Consent, set forth in this Consent.
     C. Upon its effectiveness, this Consent shall constitute a Loan Document
and these Recitals shall be construed as part of this Consent.

 

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          NOW THEREFORE, in consideration of the premises and the mutual
covenants hereinafter contained, and of the Loans and other extensions of credit
heretofore, now or hereafter made to, or for the benefit of, US Borrowers by US
Lenders and Canadian Borrower by Canadian Lenders, Borrowers, the other Credit
Parties, Agents and Lenders hereby agree as follows:
     1. Definitions. Except to the extent otherwise specified herein,
capitalized terms used in this Consent shall have the same meanings ascribed to
them in the Credit Agreement and Annex A thereto.
     2. Consent. Notwithstanding Section 6.1 of the Credit Agreement or any
other terms or provisions of the Credit Agreement or any other Loan Document to
the contrary, Agents and Lenders hereby consent to the acquisition by Wesco
Distribution or another Borrower or other Credit Party of 100% of the equity
interests of TVC Communications, LLC, a Pennsylvania limited liability company
(“TVC”), by means of a stock purchase, merger transaction or otherwise, and in
connection therewith, to the extent deemed advisable by Wesco Distribution, to
the formation of a new acquisition subsidiary of any Borrower or other Credit
Party (“Newco Sub”) (the “TVC Acquisition”); provided, that: (a) at the time of
the consummation of the TVC Acquisition, and both before and after giving effect
thereto, the Borrowers shall have excess Borrowing Availability of not less than
$150,000,000; (b) the consummation of the TVC Acquisition shall have occurred
prior to March 15, 2011; (c) as promptly as possible, and in any event within
twenty (20) Business Days, after the consummation of the TVC Acquisition, the
Borrowers and other Credit Parties shall enter into amendments to existing
Pledge Agreements and/or new Pledge Agreements in form and substance
satisfactory to Agents whereby there shall be pledged to Agent, on behalf of
itself and Lenders, or to Canadian Agent, on behalf of itself and Lenders, as
appropriate, the equity interests of TVC, Newco Sub and any of their respective
domestic or Canadian Subsidiaries (collectively, the “Pledged Stock”); (d) as
promptly as possible, and in any event within twenty (20) Business Days, after
the consummation of the TVC Acquisition, the Borrowers and the other Credit
Parties shall deliver or cause to be delivered to Agent the original share
certificates evidencing all such Pledged Stock together with executed and
undated stock powers related thereto in form and substance satisfactory to
Agent; and (e) as promptly as possible, and in any event within twenty
(20) Business Days, after the consummation of the TVC Acquisition, Borrowers and
the other Credit Parties shall (i) cause TVC, any Newco Sub and any of their
respective domestic or Canadian Subsidiaries (collectively, the “TVC Entities”
and each individually, a “TVC Entity”) to execute and deliver to Agents a
joinder to the Credit Agreement pursuant to which each TVC Entity shall become a
Guarantor and a Credit Party under the Credit Agreement, (ii) cause each TVC
Entity to execute and deliver to Agents a joinder to the Security Agreement, or
the Canadian Security Agreement, as applicable, pursuant to which each TVC
Entity shall become a Grantor under the Security Agreement or a Canadian
Guarantor under the Canadian Security Agreement, as applicable, (iii) cause each
TVC Entity to execute and deliver to Agents a joinder to the Subsidiary
Guaranty, or Canadian Subsidiary Guaranty, as applicable, pursuant to which each
TVC Entity shall become a Guarantor under the Subsidiary Guaranty or a Canadian
Guarantor under the Canadian Subsidiary Guaranty, as applicable, and (iv) cause
each TVC Entity to execute and deliver any and all financing statements,
agreements, instruments and documents and take such further actions as either
Agent may deem reasonably necessary or desirable in order to effectuate the
foregoing intents and purposes. Upon completion of the each of the actions
required under the

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immediately preceding sentence, each TVC Entity shall become a Credit Party and
a Guarantor or a Canadian Credit Party and a Canadian Guarantor, as applicable,
under the Credit Agreement and the other applicable Loan Documents. For the
avoidance of doubt: (I) each TVC Entity shall be a Credit Party and a Guarantor,
or a Canadian Credit Party and a Canadian Guarantor, as applicable, under the
Credit Agreement and the other Loan Documents and shall not be a Borrower or a
Canadian Borrower thereunder unless and until (A) the Agents shall have
completed their legal, business and collateral due diligence review with respect
to the business and assets of the TVC Entities with results of such due
diligence review satisfactory to Agents in their reasonable discretion and (B)
any and each, as applicable, TVC Entity shall have been joined to the Credit
Agreement as a Borrower or Canadian Borrower, as applicable, and shall have
executed and delivered to Agents any and all agreements, instruments and
documents and shall have taken such further actions as any Agent may reasonably
deem necessary or desirable in order to effectuate the foregoing intents and
purposes; and (II) no Inventory or Accounts acquired in connection with the TVC
Acquisition shall be taken into account for purposes of calculating the Canadian
Borrowing Base or the U.S. Borrowing Base, as applicable, unless and until
(A) the Agents shall have completed their legal, business and collateral due
diligence review with respect to the business and assets of the TVC Entities
with results of such due diligence review satisfactory to Agents in their
reasonable discretion and (B) any and each, as applicable, TVC Entity shall have
been joined to the Credit Agreement as a Borrower or Canadian Borrower, as
applicable, and shall have executed and delivered to Agents any and all
agreements, instruments and documents and shall have taken such further actions
as any Agent may reasonably deem necessary or desirable in order to effectuate
the foregoing intents and purposes.
     3. Representations and Warranties. The Borrowers and the other Credit
Parties, jointly and severally, hereby represent and warrant to Agents and
Lenders that:
          3.1. The execution, delivery and performance by each Borrower and each
other Credit Party of this Consent and any related Loan Documents have been duly
authorized by all necessary corporate, limited liability company, partnership or
other constituent document action, and this Consent constitutes the legal, valid
and binding obligation of each Borrower and each other Credit Party enforceable
against each of them in accordance with its terms, except as the enforcement
hereof may be subject to the effect of any applicable bankruptcy, insolvency,
reorganization, moratorium or similar law affecting creditors’ rights generally
or to general principles of equity.
          3.2. Each of the execution, delivery and performance of this Consent
and any related Loan Documents by each Borrower and each other Credit Party and
the consummation of the TVC Acquisition (i) does not, and will not, contravene
or conflict with any provision of law, any judgment, decree or order, or the
certificate or articles of incorporation or by-laws, or limited liability
company agreement or membership agreement, partnership agreement or other
constituent documents of any Borrower or any other Credit Party, and (ii) does
not, and will not, contravene or conflict with, or cause any Lien to arise
under, any provision of any indenture, agreement, mortgage, lease, instrument or
other document binding upon or otherwise affecting any Borrower or any other
Credit Party or any property of any Borrower or any other Credit Party.

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          3.3. No Default or Event of Default exists under the Credit Agreement
or any other Loan Document or will exist after or be triggered by the execution,
delivery and performance of this Consent or the consummation of the TVC
Acquisition or the other transactions contemplated hereby. In addition, each
Borrower and each other Credit Party hereby represents, warrants and reaffirms
that the Credit Agreement and each of the other Loan Documents to which it is a
party remains in full force and effect.
     4. Conditions Precedent to Effectiveness. The effectiveness, if any, of
this Consent is subject to the satisfaction of each of the following conditions
precedent:
          4.1. Consent. This Consent shall have been duly executed and delivered
by each Borrower, each other Credit Party, Agents and Requisite Lenders.
          4.2. No Default. No Default or Event of Default shall have occurred
and be continuing or would result from the effectiveness of this Consent or the
consummation of the TVC Acquisition or the other transactions contemplated
hereby.
          4.3. Timing. The conditions set forth in Section 4.1 (including due
execution and delivery by each Borrower and each other Credit Party) and
Section 4.2 above shall be satisfied on or before December 31, 2010. In the
event that such conditions are not so satisfied on or before December 31, 2010,
this Consent shall be void ab initio and shall be deemed to not have existed.
     5. Consent Fee. The Borrowers hereby covenant and agree that, in the event,
if any, that the TVC Acquisition is consummated, within one (1) Business Day of
such consummation of the TVC Acquisition, the Borrowers shall pay to the Agent a
consent fee in an amount equal to 0.10% of the aggregate amount of the
Commitments as of the date hereof, which consent fee shall be for the pro rata
benefit of those Lenders which have timely executed and delivered their
respective signature pages to this Consent satisfying the condition precedent
set forth in Section 4.1. Lenders acknowledge and agree that any further
Amendment resultant from the TVC Acquisition to sell, transfer or otherwise
reposition the TVC Entities or any other subsidiaries acquired in the TVC
Acquisition or any other Credit Parties or their subsidiaries within the legal
organization of any Borrower, Guarantor or Credit Party, if approved by the
Requisite Lenders, will not result in any additional Consent Fee being paid to
the Lenders. For greater certainty, any future Amendment shall be subject to
approval as provided in the Credit Agreement.
     6. Reference to and Effect Upon the Credit Agreement and other Loan
Documents.
          6.1. Full Force and Effect. Upon its effectiveness, except as
specifically provided herein, the Credit Agreement and each other Loan Document
shall remain in full force and effect and each is hereby ratified and confirmed
by each Borrower and each other Credit Party.
          6.2. No Waiver. Upon its effectiveness, the execution, delivery and
effect of this Consent shall be limited precisely as written and shall not be
deemed to (i) be a consent to any waiver of any term or condition, or to any
amendment or other modification of any term or condition (except as specifically
provided in this Consent) of the Credit Agreement or any other Loan Document or
(ii) prejudice any right, power or remedy which any Agent or any Lender

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now has or may have in the future under or in connection with the Credit
Agreement or any other Loan Document.
          6.3. Certain Terms. Each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof”, “herein” or any other word or words of
similar import shall mean and be a reference to the Credit Agreement as amended
hereby, and each reference in any other Loan Document to the Credit Agreement or
any word or words of similar import shall be and mean a reference to the Credit
Agreement as amended hereby.
     7. Counterparts. This Consent 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 to this Consent by telecopier or “pdf”
shall be as effective as delivery of a manually executed counterpart signature
page to this Consent.
     8. Costs and Expenses. As provided in Section 11.3 (Fees and Expenses) of
the Credit Agreement, Borrowers shall pay the fees, costs and expenses incurred
by each Agent in connection with the preparation of this Consent (including,
without limitation, reasonable attorneys’ fees).
     9. GOVERNING LAW. THIS CONSENT SHALL BE GOVERNED BY AND CONSTRUED AND
ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICTS OF LAW PRINCIPLES.
     10. Headings. Section headings in this Consent are included herein for
convenience of reference only and shall not constitute a part of this Consent
for any other purpose.
[Signature Pages Follow]

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     IN WITNESS WHEREOF, this Consent has been duly executed as of the date
first written above.

            BORROWERS:

WESCO DISTRIBUTION, INC.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Vice President and Treasurer        WESCO EQUITY CORPORATION
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        WESCO NEVADA, LTD.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        CARLTON-BATES COMPANY
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        COMMUNICATIONS SUPPLY CORPORATION
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer   

 

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            CALVERT WIRE & CABLE CORPORATION
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        LIBERTY WIRE & CABLE, INC.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        BRUCKNER SUPPLY COMPANY, INC.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer   

 

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            CANADIAN BORROWER:

WESCO DISTRIBUTION CANADA LP
      By:   Wesco Distribution Canada GP Inc.,       its General Partner       
      By:   /s/ Brian M. Begg         Name:   Brian M. Begg         Title:  
Assistant Secretary   

 

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            U.S. CREDIT PARTIES:

WESCO INTERNATIONAL, INC.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Vice President and Treasurer        WESCO FINANCE CORPORATION
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        CDW HOLDCO, LLC
      By:   Wesco Distribution, Inc.,       its Managing Member                 
  By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer         Title:  
Vice President and Treasurer        WDC HOLDING INC.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer   

 

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            WESCO NIGERIA, INC.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        CBC LP HOLDINGS, LLC
      By:   WDC Holding Inc.,       its Sole Member                     By:  
/s/ Daniel A. Brailer         Name:   Daniel A. Brailer         Title:  
Treasurer        CARLTON-BATES COMPANY OF TEXAS GP, INC.
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer        WDCH, LP
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer   

 

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            CANADIAN CREDIT PARTIES:

WESCO DISTRIBUTION CANADA GP INC.
      By:   /s/ Brian M. Begg         Name:   Brian M. Begg         Title:  
Assistant Secretary        WESCO DISTRIBUTION CANADA CO.
      By:   /s/ Brian M. Begg         Name:   Brian M. Begg         Title:  
Assistant Secretary        WESCO DISTRIBUTION II ULC
      By:   /s/ Daniel A. Brailer         Name:   Daniel A. Brailer        
Title:   Treasurer   

 

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            GENERAL ELECTRIC CAPITAL CORPORATION,
as Agent and a Lender
      By:   /s/ James Desantis         Name:   James Desantis         Title:  
Duly Authorized Signatory   

 

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            GE CANADA FINANCE HOLDING COMPANY,
as Canadian Agent and a Lender
      By:   /s/ Richard Zeni         Name:   Richard Zeni         Title:   Duly
Authorized Signatory   

 

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            BANK OF AMERICA, N.A.,
as a Lender
      By:   /s/ William J. Wilson         Name:   William J. Wilson        
Title:   Senior Vice President   

 

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            CITIZENS BANK OF PENNSYLVANIA,
as a Lender
      By:   /s/ Don Cmar         Name:   Don Cmar         Title:   Vice
President   

 

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            PNC BANK, N.A.,
as a Lender
      By:   /s/ David B. Thayer         Name:   David B. Thayer         Title:  
Vice President   

 

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            FIRST COMMONWEALTH BANK,
as a Lender
      By:   /s/ Brian J. Sohocki         Name:   Brian J. Sohocki        
Title:   Vice President   

 

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            WELLS FARGO BANK, NATIONAL ASSOCIATION
as a Lender
      By:   /s/ Sean Spring         Name:   Sean Spring         Title:   Vice
President   

 

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            JPMORGAN CHASE BANK, N.A.,
as a Lender
      By:   /s/ Rufus S. Dowe, III         Name:   Rufus S. Dowe, III        
Title:   Assistant Vice President   

 

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            WELLS FARGO CAPITAL FINANCE
CORPORATION CANADA,
as a Lender
      By:   /s/ Lisa M. Gonzales         Name:   Lisa M. Gonzales        
Title:   Vice President   

 

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            BANK OF AMERICA, N.A., CANADA BRANCH,
as a Lender
      By:   /s/ Medina Sales de Andrade         Name:   Medina Sales de Andrade
        Title:   Vice President   

 

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            JPMORGAN CHASE BANK, N.A. TORONTO BRANCH,
as a Lender
      By:   /s/ Steve Voigt         Name:   Steve Voigt         Title:   Senior
Vice President   

 

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            PNC BANK CANADA BRANCH,
as a Lender
      By:   /s/ Mike Danby         Name:   Mike Danby         Title:   Assistant
Vice President   

 

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            WELLS FARGO CAPITAL FINANCE, LLC,
as a Lender
      By:   /s/ Sean Spring         Name:   Sean Spring         Title:   Vice
President