Exhibit 10.1(c)

 

AMENDMENT NO. 3 TO CREDIT AGREEMENT

 

THIS AMENDMENT NO. 3 TO CREDIT AGREEMENT dated as of October 16, 2012 (this
“Amendment”) is made among HEXCEL CORPORATION, a Delaware corporation (the
“Company”), HEXCEL HOLDINGS SASU, a société par actions simplifiée organized
under the laws of France (the “Co-Borrower” and together with the Company, the
“Borrowers” and each a “Borrower”), BANK OF AMERICA, N.A., in its capacity as
administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), and each of the Lenders signatory hereto.  Capitalized terms used but
not otherwise defined herein have the respective meanings ascribed to them in
the Credit Agreement.

 

RECITALS:

 

A.            The Borrowers, Bank of America, as Administrative Agent, Issuing
Lender and Swing Line Lender, and the Lenders party thereto have entered into a
Credit Agreement dated as of July 9, 2010 (as amended by Amendment No. 1 to
Credit Agreement dated as of January 19, 2012 and Amendment No. 2 to Credit
Agreement dated as of May 25, 2012, as hereby amended and as from time to time
hereafter further amended, modified, supplemented, restated, or amended and
restated, the “Credit Agreement”), pursuant to which the Lenders have made
available to the Borrowers revolving credit and term loan facilities with a
letter of credit sublimit and a swing line sublimit.

 

B.            The Company has entered into the Company Guaranty pursuant to
which it has guaranteed the payment and performance of the obligations of the
Co-Borrower under the Credit Agreement and the other Loan Documents.

 

C.            The Subsidiary Guarantors have entered into the Subsidiary
Guaranty pursuant to which each has guaranteed the payment and performance of
the obligations of the Borrowers under the Credit Agreement and the other Loan
Documents.

 

D.            The Borrowers have advised the Administrative Agent and the
Lenders that they desire to further amend certain provisions of the Credit
Agreement, and the Administrative Agent and the Lenders signatory hereto are
willing to effect such amendment on the terms and conditions contained in this
Amendment.

 

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.            Amendment to the Credit Agreement.  Subject to the terms and
conditions set forth herein, the

 

The definition of “Asset Sale” in subsection 1.1 is amended by deleting “0.5”
from clause (e) and inserting “1.0” in lieu thereof.

 

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

 

2.            Conditions Precedent to Amendments.  The effectiveness of the
amendment to the Credit Agreement set forth in Section 1 above is subject to the
satisfaction of the following conditions precedent:

 

(a)                                 the Administrative Agent shall have received
counterparts of this Amendment, duly executed by the Borrowers, the
Administrative Agent, the Subsidiary Guarantors and the Requisite Lenders; and

 

(b)                                 unless waived by the Administrative Agent,
all reasonable fees and expenses of the Administrative Agent (including the
reasonable fees and expenses of counsel to the Administrative Agent to the
extent invoiced prior to the date hereof) in connection with this Amendment
shall have been paid in full (without prejudice to final settling of accounts
for such fees and expenses).

 

3.            Representations and Warranties.  In order to induce the
Administrative Agent and the Lenders to enter into this Amendment, each Loan
Party represents and warrants to the Administrative Agent and the Lenders as
follows:

 

(a)                                 After giving effect to this Amendment, the
representations and warranties made by the Credit Parties in the Credit
Agreement and the other Credit Documents are (i) with respect to representations
and warranties that contain a materiality qualification, be true and correct and
(ii) with respect to representations and warranties that do not contain a
materiality qualification, be true and correct in all material respects, in each
case on and as of the date of such Extension of Credit as if made on and as of
such date (except, to the extent that such representations and warranties relate
solely to an earlier date, on and as of that date).

 

(b)                                 the representations and warranties of the
Loan Parties contained in the Credit Agreement and in the other Loan Documents
are true, correct and complete in all material respects on and as of the date
hereof, except to the extent such representations and warranties specifically
relate to an earlier date, in which case such representations and warranties
shall be true, correct and complete in all material respects on and as of such
earlier date; provided, that, if a representation and warranty is qualified as
to materiality, the materiality qualifier set forth in this Section 3(a) shall
be disregarded with respect to such representation and warranty for the purposes
of this section.

 

(c)                                  This Amendment has been duly authorized,
executed and delivered by, and constitutes a legal, valid and binding obligation
of, each Loan Party, except as may be limited by general principles of equity or
by the effect of any applicable bankruptcy, insolvency, reorganization,
moratorium or similar law affecting creditors’ rights generally.

 

4.            Consent and Confirmation of the Guarantors.  The Company hereby
consents, acknowledges and agrees to the amendments set forth herein and hereby
confirms and ratifies in all respects the Company Guaranty, and each of the
Subsidiary Guarantors hereby consents, acknowledges and agrees to the amendments
set forth herein and hereby confirms and ratifies in all respects the Subsidiary
Guaranty (including without limitation the continuation of the

 

2

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

 

Company’s and each such Subsidiary Guarantor’s payment and performance
obligations thereunder upon and after the effectiveness of this Amendment and
the waivers and amendments contemplated hereby) and the enforceability of each
such Guaranty against the Company or such Subsidiary Guarantors, as the case may
be, in accordance with its terms.

 

5.            Entire Agreement.  This Amendment, together with the Loan
Documents (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 in relation to the subject matter hereof or thereof. 
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
subsection 10.6 of the Credit Agreement.

 

6.            Full Force and Effect of Amendment.  Except as hereby specifically
amended, modified or supplemented, the Credit 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.

 

7.            Counterparts.  This Amendment may be executed in any number of
counterparts, each of which shall be deemed an original as against any party
whose signature appears thereon, and all of which shall together constitute one
and the same instrument.  Delivery of an executed counterpart of a signature
page of this Amendment by telecopy, facsimile or other electronic transmission
(including .PDF) shall be effective as delivery of a manually executed
counterpart of this Amendment.

 

8.            Governing Law.  This Amendment shall in all respects be governed
by, and construed in accordance with, the laws of the State of New York.

 

9.            Enforceability.  Should any one or more of the provisions of this
Amendment be determined to be illegal or unenforceable as to one or more of the
parties hereto, all other provisions nevertheless shall remain effective and
binding on the parties hereto.

 

10.          References.  All references in any of the Loan Documents to the
“Credit Agreement” shall mean the Credit Agreement, as amended hereby.

 

11.          Successors and Assigns.  This Amendment shall be binding upon and
inure to the benefit of the Borrowers, the Administrative Agent, the Lenders and
their respective successors and assignees to the extent such assignees are
permitted assignees as provided in subsection 10.1 of the Credit Agreement.

 

[Signature pages follow.]

 

3

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

 

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.

 

 

BORROWERS:

 

 

 

 

 

HEXCEL CORPORATION

 

 

 

 

 

 

 

 

By:

/s/Wayne C. Pensky

 

 

Name:

Wayne C. Pensky

 

 

Title:

Senior Vice President and Chief Financial Officer

 

 

 

 

 

 

 

 

HEXCEL HOLDINGS SASU

 

 

 

 

 

 

 

 

By:

/s/Wayne C. Pensky

 

 

Name:

Wayne C. Pensky

 

 

Title:

Chairman (President)

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

GUARANTORS:

 

 

 

 

 

HEXCEL CORPORATION

 

 

 

 

 

 

 

 

By:

/s/Wayne C. Pensky

 

 

Name:

Wayne C. Pensky

 

 

Title:

Senior Vice President and Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

HEXCEL REINFORCEMENTS HOLDING CORP.

 

 

 

 

 

 

 

 

 

By:

/s/Wayne C. Pensky

 

 

Name:

Wayne C. Pensky

 

 

Title:

President and Treasurer

 

 

 

 

 

 

 

 

 

 

HEXCEL REINFORCEMENTS CORP.

 

 

 

 

 

 

 

 

 

By:

/s/Wayne C. Pensky

 

 

Name:

Wayne C. Pensky

 

 

Title:

President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

BANK OF AMERICA, N.A., as

 

Administrative Agent

 

 

 

 

 

By:

/s/Maria A. McClain

 

Name:

Maria A. McClain

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

LENDERS:

 

 

 

 

BANK OF AMERICA, N.A., as a Lender, Issuing Lender and Swing Line Lender

 

 

 

 

 

 

 

 

 

 

By:

/s/George Hlentzas

 

 

Name:

George Hlentzas

 

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

RBS CITIZENS, N.A.

 

 

 

 

 

By:

/s/Donald A. Wright

 

Name:

Donald A. Wright

 

Title:

Senior Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

TD BANK, N.A.

 

 

 

 

 

By:

/s/M. Bernadette Collins

 

Name:

M. Bernadette Collins

 

Title:

Senior Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

HSBC BANK USA, NATIONAL ASSOCIATION

 

 

 

 

 

 

 

By:

/s/Randolph E. Cates

 

Name:

Randolph E. Cates

 

Title:

Senior Relationship Manager

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

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

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

 

 

 

 

 

 

 

By:

/s/Albert M. Schenck

 

Name:

Albert M. Schenck

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

FIFTH THIRD BANK

 

 

 

 

 

 

 

By:

/s/Valerie Schanzer

 

Name:

Valerie Schanzer

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

THE NORTHERN TRUST COMPANY

 

 

 

 

 

 

 

By:

/s/Cliff Hoppe

 

Name:

Cliff Hoppe

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

 

 

 

SOVEREIGN BANK

 

 

 

 

 

 

 

By:

/s/Cameron Gateman

 

Name:

Cameron Gateman

 

Title:

SVP — Corporate Banking

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

 

 

 

U.S. BANK NATIONAL ASSOCIATION

 

 

 

 

 

 

 

By:

/s/Patrick McGraw

 

Name:

Patrick McGraw

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

 

 

 

CRÉDIT INDUSTRIEL ET COMMERCIAL

 

 

 

 

 

 

 

By:

/s/Edwige Sucher

 

Name:

Edwige Sucher

 

Title:

Vice President

 

 

 

 

 

 

 

By:

/s/Eric Longuet

 

Name:

Eric Longuet

 

Title:

Managing Director

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

 

 

 

RB INTERNATIONAL FINANCE (USA) LLC

 

 

 

 

 

 

 

By:

/s/Peter Armieri

 

Name:

Peter Armieri

 

Title:

Vice President

 

 

 

 

 

 

 

By:

/s/Randall Abrams

 

Name:

Randal Abrams

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

 

 

 

SUNTRUST BANK

 

 

 

 

 

 

 

By:

/s/David Simpson

 

Name:

David Simpson

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

 

 

 

WEBSTER BANK, NATIONAL ASSOCIATION

 

 

 

 

 

 

 

By:

/s/Edwin W. Holden, IV

 

Name:

Edwin W. Holden, IV

 

Title:

Vice President

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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

 

 

 

 

 

RAYMOND JAMES BANK, FSB

 

 

 

 

 

 

 

By:

/s/Joseph A. Ciccolini

 

Name:

Joseph A. Ciccolini

 

Title:

Vice President — Senior Corporate Banker

 

Hexcel Corporation

Amendment No. 3 to Credit Agreement

Signature Page

 

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