Exhibit 10.47

EXECUTION COPY

 

AMENDMENT NO. 1

 

Dated as of May 2, 2014

 

to

 

CREDIT AGREEMENT

 

Dated as of May 30, 2013

 

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of May 2, 2014 by and among
Littelfuse, Inc., a Delaware corporation (the “Borrower”), the financial
institutions listed on the signature pages hereof and JPMorgan Chase Bank, N.A.,
as Agent (the “Agent”), under that certain Credit Agreement dated as of May 31,
2013 by and among the Borrower, the Lenders and the Agent (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”).
Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings given to them in the Credit Agreement.

 

WHEREAS, the Borrower has requested that the requisite Lenders and the Agent
agree to make certain modifications to the Credit Agreement;

 

WHEREAS, the Borrower, the Lenders party hereto and the Agent have so agreed on
the terms and conditions set forth herein;

 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and
conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Lenders party hereto and the Agent hereby agree to enter into this Amendment.

 

1.     Amendment to the Credit Agreement. Effective as of the date of
satisfaction of the conditions precedent set forth in Section 2 below, the
parties hereto agree that the Credit Agreement is hereby amended as follows:

 

(a)     Section 2.08 of the Credit Agreement is amended to delete in its
entirety the reference to “(rounded upwards, if necessary, to the next 1/16 of
1%)” appearing therein.

 

2.     Conditions of Effectiveness. The effectiveness of this Amendment is
subject to the conditions precedent that (i) the Agent shall have received
counterparts of this Amendment duly executed by the Borrower, the Lenders and
the Agent, (ii) the Agent shall have received counterparts of the Consent and
Reaffirmation attached as Exhibit A hereto duly executed by the Guarantors and
(iii) the Agent shall have received payment and/or reimbursement of the Agent’s
and its affiliates’ reasonable fees and expenses (including, to the extent
invoiced, reasonable fees and expenses of counsel for the Agent) in connection
with this Amendment.

 

3.     Representations and Warranties of the Borrower. The Borrower hereby
represents and warrants as follows:

 

 
 

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(a)     This Amendment and the Credit Agreement as modified hereby constitute
legal, valid and binding obligations of the Borrower and are enforceable against
the Borrower in accordance with their terms, except as may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting the enhancement of creditors’ rights generally and by general
principles of equity.

 

(b)     As of the date hereof and after giving effect to the terms of this
Amendment, (i) no Default has occurred and is continuing and (ii) the
representations and warranties of the Borrower set forth in Article V of the
Credit Agreement (as amended hereby) or any other Loan Document are true and
correct in all material respects (or in all respects to the extent the
applicable representation and warranty is qualified by materiality or Material
Adverse Effect) (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 the representations and warranties
contained in subsections (a), (b) and (c) of Section 5.05 of the Credit
Agreement are deemed to refer to the most recent statements furnished pursuant
to clauses (a), (b) and (c), respectively, of Section 6.01 of the Credit
Agreement).

 

4.     Reference to and Effect on the Credit Agreement.

 

(a)     Upon the effectiveness hereof, each reference to the Credit Agreement in
the Credit Agreement or any other Loan Document shall mean and be a reference to
the Credit Agreement as amended hereby.

 

(b)     Each Loan Document and all other documents, instruments and agreements
executed and/or delivered in connection therewith shall remain in full force and
effect and are hereby ratified and confirmed.

 

(c)     Except with respect to the subject matter hereof, the execution,
delivery and effectiveness of this Amendment shall not operate as a waiver of
any right, power or remedy of the Agent or the Lenders, nor constitute a waiver
of any provision of the Credit Agreement, the Loan Documents or any other
documents, instruments and agreements executed and/or delivered in connection
therewith.

 

(d)     This Amendment is a “Loan Document” under (and as defined in) the Credit
Agreement.

 

5.     Governing Law. and Amendment shall be construed in accordance with and
governed by the law of the State of New York.

 

6.     Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

 

7.     Counterparts. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. Signatures delivered by facsimile or PDF shall have the same force
and effect as manual signatures delivered in person.

 

[Signature Pages Follow]

 

 
 

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year
first above written.

 

 

 

LITTELFUSE, INC.,

 

 

as the Borrower

 

 

 

 

 

 

By:

/s/ Arif Ahmed

 

 

Name: Arif Ahmed

 

 

Title: Director, Corporate Development and Treasurer

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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JPMORGAN CHASE BANK, N.A.,

 

 

individually as a Lender, as the Swing Line Lender, as the L/C Issuer and as
Agent

 

 

 

 

 

 

By:

/s/ Suzanne Ergastolo

 

 

Name: Suzanne Ergastolo

 

 

Title: Vice President

 

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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BANK OF AMERICA, N.A.,

 

 

as a Lender

 

 

 

 

 

 

By:

/s/ Daniel R. Petrik

 

 

Name: Daniel R. Petrik

 

 

Title: Senior Vice President

 

     

 

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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WELLS FARGO BANK, NATIONAL ASSOCIATION,

 

 

as a Lender

 

 

 

 

 

 

By:

/s/ Edmund H. Lester

 

 

Name: Edmund H. Lester

 

 

Title: Senior Vice President

 

 

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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PNC BANK, NATIONAL ASSOCIATION,

 

 

as a Lender

 

 

 

 

 

 

By:

/s/ William J. Browne

 

 

Name: William J. Browne

 

 

Title: Senior Vice President

 

 

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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THE NORTHERN TRUST COMPANY,

 

 

as a Lender

 

 

 

 

 

 

By:

/s/ Murtuza Ziauddin

 

 

Name: Murtuza Ziauddin

 

 

Title: 2nd Vice President

 

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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BMO HARRIS BANK N.A.,

 

 

as a Lender

 

 

 

 

 

 

By:

/s/ Edward McGuire

 

 

Name: Edward McGuire

 

 

Title: Managing Director

 

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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BRANCH BANKING & TRUST COMPANY,

 

 

as a Lender

 

 

 

 

 

 

By:

/s/ John Malloy

 

 

Name: John Malloy

 

 

Title: Senior Vice President

 

 

 

 Signature Page to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.

 

 
 

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EXHIBIT A

 

Consent and Reaffirmation

 

Each of the undersigned hereby acknowledges receipt of a copy of the foregoing
Amendment No. 1 to Credit Agreement with respect to that certain Credit
Agreement dated as of May 31, 2013 (as the same may be amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) by
and among Littelfuse, Inc., a Delaware corporation (the “Borrower”), the Lenders
and JPMorgan Chase Bank, N.A., as Agent (the “Agent”), which Amendment No. 1 to
Credit Agreement is dated as of May 2, 2014 and is by and among the Borrower,
the financial institutions listed on the signature pages thereof and the Agent
(the “Amendment”). Capitalized terms used in this Consent and Reaffirmation and
not defined herein shall have the meanings given to them in the Credit
Agreement. Without in any way establishing a course of dealing by the Agent or
any Lender, each of the undersigned consents to the Amendment and reaffirms the
terms and conditions of the Guaranty and any other Loan Document executed by it
and acknowledges and agrees that the Guaranty and each and every such Loan
Document executed by the undersigned in connection with the Credit Agreement
remains in full force and effect and is hereby reaffirmed, ratified and
confirmed. All references to the Credit Agreement contained in the
above-referenced documents shall be a reference to the Credit Agreement as so
modified by the Amendment and as the same may from time to time hereafter be
amended, modified or restated.

 

 

Dated May 2, 2014

[Signature Page Follows]

 

 
 

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IN WITNESS WHEREOF, this Consent and Reaffirmation has been duly executed as of
the day and year above written.

 

 

COLE HERSEE COMPANY

 

 

By: /s/ Philip Franklin

Name: Philip Franklin

Title: Vice President and Treasurer

 

 

 

SYMCOM, INC.

 

 

By: /s/ Philip Franklin

Name: Philip Franklin

Title: Vice President and Treasurer

 

 

 

SSAC, LLC

 

 

By: /s/ Philip Franklin

Name: Philip Franklin

Title: Vice President and Treasurer

 

 

 

SC BUILDING, LLC

 

 

By: /s/ Philip Franklin

Name: Philip Franklin

Title: Vice President and Treasurer

 

 

 

LFUS, LLC

 

 

By: /s/ Philip Franklin

Name: Philip Franklin

Title: Manager

 

 

 

HAMLIN, INCORPORATED

 

 

By: /s/ Philip Franklin

Name: Philip Franklin

Title: Vice President and Treasurer

 

 Signature Page to Consent and Reaffirmation to Amendment No. 1 to

Credit Agreement dated as of May 30, 2013

Littelfuse, Inc.