Exhibit 10.03b

 

EXECUTION COPY

 

AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT AND

AMENDMENT NO. 1 TO AMENDED AND RESTATED SECURITY AGREEMENT

 

AMENDMENT NO. 3 TO THE AMENDED AND RESTATED CREDIT AGREEMENT AND AMENDMENT NO. 1
TO THE AMENDED AND RESTATED SECURITY AGREEMENT, dated as of March 31, 2008 (this
“Amendment”), by and among STEEL DYNAMICS, INC., an Indiana corporation (the
“Borrower”), the banks, financial institutions and other lenders listed on the
signature pages hereof, NATIONAL CITY BANK (“National City”), and WELLS FARGO
BANK, NATIONAL ASSOCIATION (“Wells Fargo”), as co-administrative agents,
NATIONAL CITY, as paying agent (“Paying Agent”) and BANC OF AMERICA SECURITIES
LLC (“BAS”), as sole lead arranger and sole bookrunner (in such capacity, the
“Lead Arranger”).

 

PRELIMINARY STATEMENTS:

 

(1)          The Borrower, the lenders listed on the signature pages thereto,
National City, as collateral agent (the “Collateral Agent”), National City and
Wells Fargo, as co-administrative agents, National City as paying agent, Bank of
America, N.A. (“Bank of America”), General Electric Capital Corporation, Fifth
Third Bank and BMO Capital Markets Financing, Inc., as Documentation Agents,
Bank of America and National City, as syndication agents, and BAS and National
City, as joint lead arrangers are parties to that certain Amended and Restated
Credit Agreement dated as of June 19, 2007, as amended by Amendment No. 1 dated
as of July 11, 2007 and as further amended by Amendment No. 2 dated as of
September 11, 2007 (as supplemented or otherwise modified prior to the date
hereof, the “Credit Agreement”).  Capitalized terms not otherwise defined in
this Amendment have the same meanings as specified in the Credit Agreement.

 

(2)          In connection with the consummation of the transactions
contemplated in the Credit Agreement, the Borrower, the Collateral Agent and
each of the other Loan Parties entered into that certain Amended and Restated
Security Agreement dated as of June 19, 2007 (as supplemented or otherwise
modified prior to the date hereof, the “Security Agreement”)

 

(3)          The Borrower has requested that the Lenders and certain Persons
that will become Lenders pursuant to this Amendment commit to increase the
commitments of the Term A Facility and the Revolving Credit Facility in
accordance with Section 2.17 of the Credit Agreement on the terms and conditions
hereinafter set forth and as otherwise provided in the Credit Agreement, and
(a) the Term A Lenders and Revolving Credit Lenders listed on the signature
pages hereto as an “Increasing Term A Lender” or “Increasing Revolving Credit
Lender”, respectively, have agreed to make Additional Term A Advances and/or to
increase their Revolving Credit Commitments, as the case may be, (the Lenders
referred to in this clause (a) being, the “Increasing Lenders”) and (b) the
Persons listed on the signature pages hereof as “Additional Term A Lenders” have
agreed to make Additional Term A Advances and the Persons listed as “Additional
Revolving Credit Lenders” (the Persons referred to in this clause (b) being, the
“Additional Lenders”)  have agreed to provide additional Revolving Credit
Commitments to the Borrower on the terms and subject to the conditions
hereinafter set forth and as otherwise provided in the Credit Agreement.

 

(4)          The Borrower has also requested that the Required Lenders amend the
Credit Agreement and the Security Agreement in certain respects, and the
Required Lenders have agreed, subject

 

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to the terms and conditions hereinafter set forth, to amend the Credit Agreement
and the Security Agreement as hereinafter set forth.

 

NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration, the sufficiency and the receipt of which is hereby acknowledged,
the parties hereto hereby agree as follows:

 

SECTION 1.                                INCREMENTAL FACILITY INCREASES AND
RELATED AMENDMENTS.  UPON, AND SUBJECT TO, THE OCCURRENCE OF THE INCREASE
EFFECTIVE DATE (AS DEFINED IN SECTION 6(A) BELOW), THE CREDIT AGREEMENT IS
HEREBY AMENDED AS FOLLOWS:

 

(A)                      SECTION 1.01 IS HEREBY AMENDED BY INSERTING THEREIN
AFTER THE DEFINED TERM “AMENDMENT NO. 2 EFFECTIVE DATE” AND BEFORE THE DEFINED
TERM “APPLICABLE LENDING OFFICE” THE FOLLOWING DEFINED TERMS:

 

“ “Additional Revolving Credit Commitments” means, with respect to any
Increasing Revolving Credit Lender at any time commencing with the Amendment
No. 3 Increase Date, the amount set forth opposite such Lender’s name as it
“Revolving Credit Commitment” or “Increase in Revolving Credit Commitment”, as
applicable, on Schedule 1 to Amendment No. 3.”

 

“ “Additional Term A Advances” has the meaning specified in Section 2.01(e).”

 

“ “Additional Term A Borrowing” means a borrowing consisting of simultaneous
Additional Term A Advances of the same Type made by the Increasing Term A
Lenders.”

 

“ “Additional Term A Commitments” means the commitment of Increasing Term A
Lenders to make Additional Term A Advances on the Amendment No. 3 Increase Date
in the amount set forth opposite each Increasing Term A Lender’s name under the
heading “Additional Term A Commitment” on Schedule 1 to Amendment No. 3.”

 

“ “Amendment No. 3” means that certain Amendment No. 3 to this Agreement dated
as of March 31, 2008 by and among the Borrower, National City, Wells Fargo, the
Lead Arranger, Increasing Lenders, Term A Lenders and Revolving Credit Lenders
listed on the signature pages thereto.”

 

“ “Amendment No. 3 Effective Date” means the date on which the Paying Agent
notifies the Borrower that all conditions set forth in Section 6(b) of Amendment
No. 3 have been satisfied.”

 

“ “Amendment No. 3 Increase Date” means the date on which the Paying Agent
notifies the Borrower that all conditions set forth in Section 6(a) of Amendment
No. 3 have been satisfied.”

 

(B)                     SECTION 1.01 IS HEREBY AMENDED BY INSERTING THEREIN
AFTER THE DEFINED TERM “HEDGE BANK” AND BEFORE THE DEFINED TERM “INCREMENTAL
FACILITY” THE FOLLOWING DEFINED TERM:

 

“ “Increasing Lenders” means each Increasing Term A Lender and Increasing
Revolving Credit Lender.”

 

“ “Increasing Revolving Credit Lender” means each Revolving Credit Lender that
has executed and delivered Amendment No. 3 in the capacity of an “Increasing
Revolving Credit Lender” or “Additional Revolving Credit Lender”.”

 

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“ “Increasing Term A Lender” means each Term A Lender that has executed and
delivered Amendment No. 3 in the capacity of an “Increasing Term A Lender” or
“Additional Term A Lender”.”

 

(C)                      THE DEFINITION OF “LENDERS” IN SECTION 1.01 IS HEREBY
AMENDED BY INSERTING THEREIN IMMEDIATELY AFTER THE COMMA AND BEFORE THE PHRASE
“THE INITIAL LENDERS” THE PHRASE “THE INCREASING LENDERS,”.

 

(D)                     THE DEFINITION OF “REVOLVING CREDIT COMMITMENT” IS
HEREBY AMENDED BY INSERTING AT THE END OF SUCH DEFINITION, IMMEDIATELY BEFORE
THE PERIOD, THE PHRASE “AND “REVOLVING CREDIT COMMITMENTS” INCLUDES, FOR THE
AVOIDANCE OF DOUBT, THE ADDITIONAL REVOLVING CREDIT COMMITMENTS.”

 

(E)                      THE DEFINITION OF “TERM A ADVANCE” IS AMENDED AND
RESTATED IN ITS ENTIRETY TO READ AS FOLLOWS:

 

“Term A Advance” means the collective reference to the advances made pursuant to
Section 2.01(d) and the Additional Term A Advances made pursuant to
Section 2.01(e).

 

(F)                        THE DEFINITION OF “TERM A COMMITMENT” IS AMENDED BY
INSERTING AT THE END OF SUCH DEFINITION, IMMEDIATELY BEFORE THE PERIOD, THE
PHRASE “OR INCREASED PURSUANT TO SECTION 2.17, AND “TERM A COMMITMENTS”
INCLUDES, FOR THE AVOIDANCE OF DOUBT, THE ADDITIONAL TERM A COMMITMENTS.”

 

(G)                     SECTION 2.01(D) IS HEREBY AMENDED BY DELETING THEREFROM
THE PARENTHETICAL “(A “TERM A ADVANCE”).

 

(H)                     SECTION 2.01 IS HEREBY FURTHER AMENDED BY INSERTING
THEREIN A NEW CLAUSE (E) TO READ AS FOLLOWS:

 

“(e)                            The Additional Term A Advances.  Each Increasing
Term A Lender severally agrees, on the terms and conditions hereinafter set
forth, to make a single advance (an “Additional Term A Advance”) to the Borrower
on the Amendment No. 3 Increase Date in an amount not to exceed such Lender’s
Additional Term A Commitment at such time.  The Additional Term A Borrowing
shall consist of Additional Term A Advances made simultaneously by the
Increasing Term A Lenders ratably according to their Additional Term A
Commitments.  Amounts borrowed under this Section 2.01(e) and repaid or prepaid
may not be reborrowed.”

 

(I)                         SECTION 2.04 IS AMENDED BY ADDING A NEW CLAUSE
(E) THERETO, TO READ AS FOLLOWS:

 

(A)                                  ADDITIONAL TERM A ADVANCES.  THE BORROWER
SHALL REPAY TO THE PAYING AGENT FOR THE RATABLE ACCOUNT OF THE INCREASING TERM A
LENDERS THE AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF THE ADDITIONAL TERM A
ADVANCES ON THE FOLLOWING DATES IN AN AMOUNT EQUAL TO THE PERCENTAGE SET FORTH
BELOW FOR SUCH DATE OF THE AGGREGATE OUTSTANDING PRINCIPAL AMOUNT OF THE
ADDITIONAL TERM A ADVANCE AS OF THE AMENDMENT NO. 3 INCREASE DATE (WHICH AMOUNTS
SHALL BE REDUCED AS A RESULT OF THE APPLICATION OF PREPAYMENTS IN ACCORDANCE
WITH THE ORDER OF PRIORITY SET FORTH IN SECTION 2.06):

 

Date

 

Percentage

 

June 30, 2008

 

2.50

%

September 30, 2008

 

2.50

%

December 31, 2008

 

2.50

%

March 31, 2009

 

2.50

%

 

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June 30, 2009

 

2.50

%

September 30, 2009

 

2.50

%

December 31, 2009

 

2.50

%

March 31, 2010

 

2.50

%

June 30, 2010

 

2.50

%

September 30, 2010

 

2.50

%

December 31, 2010

 

2.50

%

March 31, 2011

 

2.50

%

June 30, 2011

 

2.50

%

September 30, 2011

 

2.50

%

December 31, 2011

 

2.50

%

March 31, 2012

 

2.50

%

June 19, 2012

 

60.00

%

 

provided, however, that the final principal installment shall be repaid on the
Termination Date and in any event shall be in an amount equal to the aggregate
principal amount of the Additional Term A Advances outstanding on such date.

 

(J)                         SCHEDULE I TO THE CREDIT AGREEMENT IS HEREBY
SUPPLEMENTED BY ADDING THE TABLE ATTACHED AS SCHEDULE I TO THIS AMENDMENT TO
SUCH SCHEDULE.

 

SECTION 2.                                LENDER AGREEMENTS TO INCREASE.  EACH
REVOLVING CREDIT LENDER THAT EXECUTES AND DELIVERS THIS AMENDMENT IN THE
CAPACITY OF AN “INCREASING REVOLVING CREDIT LENDER” (EACH, AN “INCREASING
REVOLVING LENDER”) OR AN “ADDITIONAL REVOLVING CREDIT LENDER” (EACH, AN
“ADDITIONAL REVOLVING LENDER”) HEREBY AGREES THAT UPON, AND SUBJECT TO, THE
OCCURRENCE OF THE INCREASE EFFECTIVE DATE, SUCH LENDER’S “REVOLVING CREDIT
COMMITMENT” UNDER THE CREDIT AGREEMENT SHALL BE INCREASED AS CONTEMPLATED BY
SECTION 2.17 OF THE CREDIT AGREEMENT BY THE AMOUNT SET FORTH OPPOSITE SUCH
LENDER’S NAME UNDER THE HEADING “INCREASE IN REVOLVING CREDIT COMMITMENT” ON
SCHEDULE 1 TO THIS AMENDMENT (AN “INCREASE IN REVOLVING CREDIT COMMITMENT”) AND,
IN THE CASE OF AN ADDITIONAL REVOLVING LENDER, THAT SUCH LENDER SHALL BE DEEMED
TO BE A “REVOLVING CREDIT LENDER” FOR ALL PURPOSES UNDER THE CREDIT AGREEMENT
AND SHALL HAVE A “REVOLVING CREDIT COMMITMENT” EQUAL TO THE AMOUNT SET FORTH
OPPOSITE ITS NAME ON SCHEDULE 1 TO THIS AMENDMENT.  FROM AND AFTER THE INCREASE
EFFECTIVE DATE, EACH REFERENCE IN THE CREDIT AGREEMENT TO A REVOLVING CREDIT
LENDER’S REVOLVING CREDIT COMMITMENT SHALL MEAN, (A) WITH RESPECT TO AN
INCREASING REVOLVING LENDER, ITS REVOLVING CREDIT COMMITMENT AS INCREASED
PURSUANT TO THIS AMENDMENT AND (B) WITH RESPECT TO AN ADDITIONAL REVOLVING
LENDER, ITS REVOLVING CREDIT COMMITMENT AS SET FORTH OPPOSITE ITS NAME ON
SCHEDULE 1 TO THIS AMENDMENT.

 

SECTION 3.                                Additional Amendments to the Credit
Agreement.  Upon, and subject to, the satisfaction of the conditions precedent
set forth in Section 6(b) below, the Credit Agreement is hereby amended as
follows:

 

(A)                      THE DEFINITION OF “EXCLUDED SUBSIDIARY” IN SECTION 1.01
IS HEREBY AMENDED BY INSERTING THEREIN IMMEDIATELY AFTER THE PHRASE “EACH OF”
AND IMMEDIATELY BEFORE THE PHRASE “PARAGON STEEL ENTERPRISES LLC” CONTAINED
THEREIN THE FOLLOWING:

 

“Speedbird Aviation, LLC, an Indiana limited liability company,”.

 

(B)                     SECTION 2.17(A) IS HEREBY AMENDED BY SUBSTITUTING FOR
THE PHRASE “EXCEED $350,000,000” WHERE IT APPEARS IN THE FIRST PROVISO THERETO
THE PHRASE “INCURRED AFTER THE AMENDMENT NO. 3 INCREASE DATE EXCEED
$250,000,000”.

 

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(C)                      SECTION 2.17(F) IS HEREBY AMENDED BY DELETING THE
PHRASE “AND THE DRAWINGS PERMITTED THEREUNDER” APPEARING IN CLAUSE
(II) CONTAINED THEREIN AND SUBSTITUTING IN LIEU THEREOF THE PHRASE “AND THE
DRAWINGS THEREUNDER ON THE RELEVANT INCREMENTAL FACILITY EFFECTIVE DATE”.

 

(D)                     SECTION 5.01(J) IS HEREBY AMENDED BY DELETING THE PHRASE
“15 DAYS” EACH TIME IT APPEARS THEREIN AND SUBSTITUTING IN LIEU THEREOF, IN EACH
CASE, THE PHRASE “30 DAYS”.

 

(E)                      SECTION 5.02(E) IS HEREBY AMENDED BY (I) DELETING THE
“; AND” APPEARING AT THE END OF CLAUSE (V) CONTAINED THEREIN, (II) DELETING THE
PERIOD APPEARING AT THE END OF CLAUSE (VI) CONTAINED THEREIN AND SUBSTITUTING IN
LIEU THEREOF “; AND” AND (III) INSERTING THEREIN IMMEDIATELY AFTER THE CLAUSE
(VI) CONTAINED THEREIN THE FOLLOWING CLAUSE (VII):

 

“(vii)                     the winding up or dissolution of any Subsidiary so
long as (A) all assets of such Subsidiary are transferred to the Borrower or
another Subsidiary (other than any Excluded Subsidiary) prior to, or
simultaneously with, such winding up or dissolution and (B) if such Subsidiary
is a Guarantor, all assets of such Subsidiary are transferred to the Borrower or
another Guarantor.”

 

(F)                        SECTION 5.02(F) IS HEREBY AMENDED BY (I) DELETING THE
“; AND” APPEARING AT THE END OF CLAUSE (VIII) CONTAINED THEREIN AND SUBSTITUTING
IN LIEU THEREOF A SEMI-COLON, (II) DELETING THE PERIOD APPEARING AT THE END OF
CLAUSE (IX) CONTAINED THEREIN AND SUBSTITUTING IN LIEU THEREOF “; AND” AND
(III) INSERTING THEREIN IMMEDIATELY AFTER THE CLAUSE (IX) CONTAINED THEREIN THE
FOLLOWING CLAUSE (X):

 

“(x)                             Investments in Excluded Subsidiaries in an
amount not to exceed $50,000,000 in the aggregate.”

 

(G)                     SECTION 5.02(O) IS HEREBY AMENDED BY INSERTING IN CLAUSE
(I) CONTAINED THEREIN IMMEDIATELY AFTER THE WORD “PERSON” CONTAINED THEREIN THE
FOLLOWING PARENTHETICAL:

 

“(other than to the Collateral Agent pursuant to the Loan Documents)”

 

(H)                     SECTION 6.01(C) IS HEREBY AMENDED BY (I) DELETING THE
CROSS REFERENCE TO “SECTION 5.01(E), (F), (I), (J), (M) OR (P)” CONTAINED
THEREIN AND SUBSTITUTING IN LIEU THEREOF “SECTION 5.01(E), (F), (I), (J), (L) OR
(N)” AND (II) DELETING THE CROSS REFERENCE TO “SECTION 5.02(P)” CONTAINED IN THE
PROVISO THERETO AND SUBSTITUTING IN LIEU THEREOF “SECTION 5.02(O)”.

 

SECTION 4.                                CONSENT.  UPON, AND SUBJECT TO, THE
SATISFACTION OF THE CONDITIONS PRECEDENT SET FORTH IN SECTION 6(B) BELOW, THE
REQUIRED LENDERS HEREBY CONSENT TO THE RELEASE OF SPEEDBIRD AVIATION, LLC, AN
INDIANA LIMITED LIABILITY COMPANY, FROM ITS OBLIGATIONS UNDER THE GUARANTY AND
THE SECURITY AGREEMENT.

 

SECTION 5.                                AMENDMENT TO SECURITY AGREEMENT. 
UPON, AND SUBJECT TO, THE SATISFACTION OF THE CONDITIONS PRECEDENT SET FORTH IN
SECTION 6(B) BELOW, SECTION 11(A) OF THE SECURITY AGREEMENT IS HEREBY AMENDED
AND RESTATED IN ITS ENTIRETY TO READ AS FOLLOWS:

 

“Each Grantor will keep the Inventory of such Grantor (other than Inventory sold
in the ordinary course of business) at the places therefor specified in
Section 9(b).”

 

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SECTION 6.                            Conditions of Effectiveness of Amendments.

 

(A)                      SECTIONS 1 AND 2 OF THIS AMENDMENT AND THE AMENDMENTS
TO THE CREDIT AGREEMENT SET FORTH THEREIN SHALL BECOME EFFECTIVE ON THE DATE
(THE “INCREASE EFFECTIVE DATE”) WHEN EACH OF THE CONDITIONS SET FORTH IN THIS
SECTION 6 SHALL HAVE BEEN SATISFIED:

 

(I)                                    EXECUTION OF COUNTERPARTS.  THE PAYING
AGENT SHALL HAVE RECEIVED COUNTERPARTS OF (I) THIS AMENDMENT EXECUTED BY (A) THE
BORROWER, (B) EACH INCREASING LENDER AND (C) EACH ADDITIONAL LENDER AND (II) THE
CONSENT ATTACHED HERETO (THE “CONSENT”) EXECUTED BY EACH GUARANTOR.

 

(II)                                 PAYMENT OF FEES AND EXPENSES.  THE BORROWER
SHALL HAVE PAID (I) TO THE ARRANGER FOR ITS OWN ACCOUNT SUCH FEES AS HAVE BEEN
SEPARATELY AGREED IN WRITING BETWEEN THE BORROWER AND THE LEAD ARRANGER AND
(II) ALL COSTS AND EXPENSES (INCLUDING THE REASONABLE FEES AND EXPENSES OF
SHEARMAN & STERLING LLP) INCURRED BY THE LEAD ARRANGER, BANK OF AMERICA, AS
SYNDICATION AGENT, AND NATIONAL CITY, AS CO-ADMINISTRATIVE AGENT IN CONNECTION
WITH THE PREPARATION, NEGOTIATION AND EXECUTION OF THIS AMENDMENT OR OTHERWISE
REQUIRED TO BE PAID UNDER THE LOAN DOCUMENTS AND REMAINING OUTSTANDING ON OR
PRIOR TO THE DATE OF THIS AMENDMENT, IN EACH CASE FOR WHICH THE INVOICE FOR SUCH
FEES AND EXPENSES SHALL HAVE BEEN PRESENTED TO THE BORROWER.

 

(III)                              CORPORATE AUTHORIZATIONS, ETC.  THE LEAD
ARRANGER SHALL HAVE RECEIVED:

 

(A)                              CERTIFIED COPIES OF THE RESOLUTIONS OF THE
BOARD OF DIRECTORS OR OF THE MEMBERS OR MANAGERS OF EACH LOAN PARTY APPROVING
THE AMENDMENT, THE INCURRENCE OR GUARANTEE (AS APPLICABLE) OF THE INCREASE OF
THE TERM A ADVANCES AND REVOLVING CREDIT ADVANCES PURSUANT TO SECTION 2.17 OF
THE CREDIT AGREEMENT, THE OTHER TRANSACTIONS CONTEMPLATED HEREBY AND EACH OF THE
DOCUMENTS NECESSARY TO EFFECT THE AMENDMENT TO WHICH IT IS OR IS TO BE A PARTY
AND OF ALL DOCUMENTS EVIDENCING OTHER NECESSARY CORPORATE ACTION AND
GOVERNMENTAL AND OTHER THIRD PARTY APPROVALS AND CONSENTS, IF ANY, WITH RESPECT
TO THE AMENDMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND EACH SUCH OTHER
DOCUMENT.

 

(B)                                A COPY OF A CERTIFICATE OF THE SECRETARY OF
STATE OF THE JURISDICTION OF INCORPORATION OR ORGANIZATION OF EACH LOAN PARTY,
DATED REASONABLY NEAR THE EFFECTIVE DATE OF THIS AMENDMENT, CERTIFYING (A) AS TO
A TRUE AND CORRECT COPY OF THE CHARTER, ARTICLES OF INCORPORATION OR ARTICLES OF
ORGANIZATION, AS THE CASE MAY BE (“ORGANIZATIONAL DOCUMENTS”) OF SUCH LOAN PARTY
AND EACH AMENDMENT THERETO ON FILE IN SUCH SECRETARY’S OFFICE AND (B) THAT
(1) SUCH AMENDMENTS ARE THE ONLY AMENDMENTS TO SUCH LOAN PARTY’S ORGANIZATIONAL
DOCUMENTS ON FILE IN SUCH SECRETARY’S OFFICE, (2) IF APPLICABLE, SUCH LOAN PARTY
HAS PAID ALL FRANCHISE TAXES TO THE DATE OF SUCH CERTIFICATE AND (C) SUCH LOAN
PARTY IS DULY INCORPORATED OR ORGANIZED AND IN GOOD STANDING OR PRESENTLY
SUBSISTING UNDER THE LAWS OF THE STATE OF THE JURISDICTION OF ITS INCORPORATION
OR ORGANIZATION.

 

(C)                                A COPY OF A CERTIFICATE OF THE SECRETARY OF
STATE OF EACH JURISDICTION REASONABLY REQUESTED BY THE LEAD ARRANGER, DATED
REASONABLY NEAR THE EFFECTIVE DATE OF THIS AMENDMENT, STATING THAT A LOAN PARTY
IS DULY QUALIFIED AND IN GOOD STANDING AS A FOREIGN ENTITY IN SUCH STATE AND HAS
FILED ALL ANNUAL REPORTS REQUIRED TO BE FILED TO THE DATE OF SUCH CERTIFICATE.

 

(D)                               A CERTIFICATE OF EACH LOAN PARTY, SIGNED ON
BEHALF OF SUCH LOAN PARTY BY A RESPONSIBLE OFFICER, DATED THE EFFECTIVE DATE OF
THIS AMENDMENT (THE STATEMENTS MADE

 

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IN WHICH CERTIFICATE SHALL BE TRUE ON AND AS OF THE EFFECTIVE DATE OF THIS
AMENDMENT), CERTIFYING AS TO (A) THE ABSENCE OF ANY AMENDMENTS TO THE
ORGANIZATIONAL DOCUMENTS OF SUCH LOAN PARTY SINCE THE DATE OF THE SECRETARY OF
STATE’S CERTIFICATE REFERRED TO IN CLAUSE (B) ABOVE, (B) A TRUE AND CORRECT COPY
OF THE BYLAWS OR OPERATING AGREEMENT, AS APPLICABLE, OF SUCH LOAN PARTY AS IN
EFFECT ON THE DATE ON WHICH THE RESOLUTIONS REFERRED TO IN CLAUSE (A) ABOVE WERE
ADOPTED AND ON THE EFFECTIVE DATE OF THIS AMENDMENT, (C) THE DUE
INCORPORATION/ORGANIZATION AND GOOD STANDING OR VALID EXISTENCE OF SUCH LOAN
PARTY AS A CORPORATION OR LIMITED LIABILITY COMPANY ORGANIZED UNDER THE LAWS OF
THE JURISDICTION OF ITS INCORPORATION OR ORGANIZATION, AND THE ABSENCE OF ANY
PROCEEDING FOR THE DISSOLUTION OR LIQUIDATION OF SUCH LOAN PARTY, (D) THE TRUTH
OF THE REPRESENTATIONS AND WARRANTIES CONTAINED IN THE LOAN DOCUMENTS AS THOUGH
MADE ON AND AS OF THE EFFECTIVE DATE OF THIS AMENDMENT AND (E) THE ABSENCE OF
ANY EVENT OCCURRING AND CONTINUING, OR RESULTING FROM THE AMENDMENT, THE FULL
DRAWING OF THE ADDITIONAL TERM A BORROWING OR THE OUTSTANDINGS UNDER THE
REVOLVING CREDIT FACILITY, THAT CONSTITUTES A DEFAULT.

 

(E)                                 A CERTIFICATE OF A RESPONSIBLE OFFICER OF
EACH LOAN PARTY CERTIFYING THE NAMES AND TRUE SIGNATURES OF THE OFFICERS OF SUCH
LOAN PARTY AUTHORIZED TO SIGN THE AMENDMENT, THE CONSENT AND THE OTHER DOCUMENTS
TO BE DELIVERED HEREUNDER TO WHICH IT IS OR IS TO BE A PARTY.

 

(IV)                              INDENTURE COMPLIANCE CERTIFICATE.  THE LEAD
ARRANGER SHALL HAVE RECEIVED A CERTIFICATE SIGNED BY THE CHIEF FINANCIAL OFFICER
OF THE BORROWER CERTIFYING THAT, AFTER GIVING PRO FORMA EFFECT TO THE FULL
DRAWING OF THE ADDITIONAL TERM A BORROWING AND THE OUTSTANDINGS UNDER THE
REVOLVING CREDIT FACILITY, THE BORROWER IS IN COMPLIANCE WITH THE COVENANTS
(INCLUDING RESTRICTIONS ON LIENS AND DEBT) SET FORTH IN THE RELATED DOCUMENTS
AND EACH OTHER INDENTURE TO WHICH THE BORROWER IS A PARTY (TOGETHER WITH
CALCULATIONS IN DETAIL REASONABLY SATISFACTORY THE LEAD ARRANGER).

 

(V)                                 LEGAL OPINIONS.  THE LEAD ARRANGER SHALL
HAVE RECEIVED FAVORABLE OPINIONS OF BARRETT & MCNAGNY, LLP AND GREENBERG
TRAURIG, LLP, COUNSEL FOR THE LOAN PARTIES, ADDRESSED TO THE LEAD ARRANGER, THE
ADMINISTRATIVE AGENTS, THE REVOLVING CREDIT LENDERS AND THE TERM A LENDERS PARTY
HERETO, AS TO SUCH MATTERS AS THE ADMINISTRATIVE AGENTS OR THE LEAD ARRANGER MAY
REASONABLY REQUEST, INCLUDING THE MATTERS ADDRESSED IN EXHIBITS G-1 AND G-2 TO
THE CREDIT AGREEMENT.

 

(VI)                             SOLVENCY CERTIFICATE.  THE LEAD ARRANGER SHALL
HAVE RECEIVED A CERTIFICATE, IN SUBSTANTIALLY THE FORM OF EXHIBIT F TO THE
CREDIT AGREEMENT, SIGNED BY THE CHIEF FINANCIAL OFFICER OR ANOTHER RESPONSIBLE
OFFICER OF EACH LOAN PARTY ATTESTING TO THE SOLVENCY OF EACH LOAN PARTY
INDIVIDUALLY AND TOGETHER WITH ITS SUBSIDIARIES, TAKEN AS A WHOLE, BEFORE AND
AFTER GIVING EFFECT TO THE AMENDMENT.

 

(VII)                           BORROWING BASE CERTIFICATE.     THE LEAD
ARRANGER SHALL HAVE RECEIVED A CERTIFICATE SIGNED BY THE CHIEF FINANCIAL OFFICER
OF THE BORROWER, THE STATEMENTS IN WHICH SHALL BE TRUE, CERTIFYING THAT, AFTER
GIVING PRO FORMA EFFECT TO THE FULL DRAWING OF THE ADDITIONAL TERM A BORROWING
AND THE OUTSTANDINGS UNDER THE REVOLVING CREDIT FACILITY, THE AGGREGATE OF
(X) 85% OF THE BOOK VALUE OF ACCOUNTS RECEIVABLES THAT CONSTITUTE COLLATERAL AND
(Y) 65% OF THE BOOK VALUE OF INVENTORY THAT CONSTITUTES COLLATERAL EXCEEDS THE
SUM OF (X) AGGREGATE PRINCIPAL AMOUNT OUTSTANDING UNDER THE REVOLVING CREDIT
FACILITY (INCLUDING OUTSTANDING LETTERS OF CREDIT AND SWING LINE ADVANCES) AND
THE TERM A FACILITY PLUS (Y) THE AGGREGATE AMOUNT OF OBLIGATIONS OUTSTANDING
UNDER SECURED CASH MANAGEMENT AGREEMENTS PLUS (Z) THE AGGREGATE AGREEMENT VALUE
OF ALL SECURED HEDGE AGREEMENTS AT SUCH TIME.

 

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(VIII)                       FINANCIAL COVENANT CERTIFICATE.  THE LEAD ARRANGER
SHALL HAVE RECEIVED A CERTIFICATE SIGNED BY THE CHIEF FINANCIAL OFFICER OF THE
BORROWER, THE STATEMENTS IN WHICH SHALL BE TRUE, CERTIFYING THAT, AFTER GIVING
PRO FORMA EFFECT TO THE FULL DRAWING OF THE ADDITIONAL TERM A BORROWING AND THE
OUTSTANDINGS UNDER THE REVOLVING CREDIT FACILITY, THE BORROWER IS IN COMPLIANCE
WITH THE COVENANTS SET FORTH IN SECTION 5.04 OF THE CREDIT AGREEMENT.

 

(B)                     SECTIONS 2, 3 AND 4 OF THIS AMENDMENT AND THE AMENDMENTS
TO THE CREDIT AGREEMENT CONTEMPLATED THEREBY SHALL BECOME EFFECTIVE ON THE DATE
WHEN THE PAYING AGENT SHALL HAVE RECEIVED COUNTERPARTS OF (I) THIS AMENDMENT
EXECUTED BY (A) THE BORROWER AND (B) THE REQUIRED LENDERS, THE CALCULATION OF
WHICH SHALL EXCLUDE, FOR GREATER CERTAINTY, EACH LENDER THAT EXECUTES THIS
AMENDMENT IN THE CAPACITY OF AN “ADDITIONAL TERM A LENDER” OR “ADDITIONAL
REVOLVING CREDIT LENDER”, AND (II) THE CONSENT ATTACHED HERETO (THE “CONSENT”)
EXECUTED BY EACH GUARANTOR.

 

SECTION 7.                                Reference to and Effect on the Credit
Agreement and the Loan Documents.

 

(A)                      ON AND AFTER THE EFFECTIVENESS OF THIS AMENDMENT, EACH
REFERENCE IN THE CREDIT AGREEMENT AND THE SECURITY AGREEMENT TO “THIS
AGREEMENT”, “HEREUNDER”, “HEREOF” OR WORDS OF LIKE IMPORT REFERRING TO THE
CREDIT AGREEMENT OR THE SECURITY AGREEMENT, AS APPLICABLE, AND EACH REFERENCE IN
THE NOTES AND EACH OF THE OTHER LOAN DOCUMENTS TO “THE CREDIT AGREEMENT”, “THE
SECURITY AGREEMENT”, “THEREUNDER”, “THEREOF” OR WORDS OF LIKE IMPORT REFERRING
TO THE CREDIT AGREEMENT OR THE SECURITY AGREEMENT, AS APPLICABLE, SHALL MEAN AND
BE A REFERENCE TO THE CREDIT AGREEMENT AND THE SECURITY AGREEMENT, AS
APPLICABLE, IN EACH CASE, AS AMENDED BY THIS AMENDMENT.

 

(B)                     THE CREDIT AGREEMENT, THE NOTES AND EACH OF THE OTHER
LOAN DOCUMENTS, AS SPECIFICALLY AMENDED BY THIS AMENDMENT (AND AS CONTEMPLATED
TO BE AMENDED, MODIFIED, SUPPLEMENTED, RESTATED, SUBSTITUTED OR REPLACED BY THIS
AMENDMENT) ARE, AND SHALL CONTINUE TO BE, IN FULL FORCE AND EFFECT AND IS HEREBY
IN ALL RESPECTS RATIFIED AND CONFIRMED.  WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING, THE COLLATERAL DOCUMENTS AND ALL OF THE COLLATERAL DESCRIBED THEREIN
DO AND SHALL CONTINUE TO SECURE THE PAYMENT OF ALL OBLIGATIONS OF THE LOAN
PARTIES UNDER THE LOAN DOCUMENTS, IN EACH CASE AS AMENDED BY THIS AMENDMENT (AND
AS CONTEMPLATED TO BE AMENDED, MODIFIED, SUPPLEMENTED, RESTATED, SUBSTITUTED OR
REPLACED BY THIS AMENDMENT).

 

(C)                      THE EXECUTION, DELIVERY AND EFFECTIVENESS OF THIS
AMENDMENT SHALL NOT, EXCEPT AS EXPRESSLY PROVIDED HEREIN, OPERATE AS A WAIVER OF
ANY RIGHT, POWER OR REMEDY OF ANY LENDER OR THE PAYING AGENT UNDER ANY OF THE
LOAN DOCUMENTS, NOR CONSTITUTE A WAIVER OF ANY PROVISION OF ANY OF THE LOAN
DOCUMENTS.  ON AND AFTER THE EFFECTIVENESS OF THIS AMENDMENT, THIS AMENDMENT
SHALL FOR ALL PURPOSES CONSTITUTE A LOAN DOCUMENT.

 

SECTION 8.                                Execution in Counterparts.  This
Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute but one and
the same agreement.  Delivery of an executed counterpart of a signature page to
this Amendment by telecopier, facsimile or other electronic transmission (i.e.
“pdf” or “tif”) shall be effective as delivery of a manually executed
counterpart of this Amendment.

 

SECTION 9.                                Governing Law.  This Amendment shall
be governed by, and construed in accordance with, the laws of the State of
New York.

 

[Remainder of this page intentionally left blank.]

 

8

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

 

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

 

 

STEEL DYNAMICS, INC.

 

 

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name:

Theresa E. Wagler

 

 

Title:

Vice President

 

[Amendment No. 3]

 

 

 

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

 

 

BANC OF AMERICA SECURITIES LLC,

 

as a Lead Arranger

 

 

 

 

 

By:

/s/ Otis Ku

 

 

Name:

Otis Ku

 

 

Title:

Vice President

 

 

 

BANK OF AMERICA, N.A.,

 

as a Revolving Credit Lender and as a Term A Lender

 

 

 

 

 

By:

/s/ David McCauley

 

 

Name:

David McCauley

 

 

Title:

Principal

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

BANK OF AMERICA, N.A.,

 

as an Increasing Revolving Lender and

 

an Increasing Term A Lender

 

 

 

 

 

By:

/s/ David McCauley

 

 

Name:

David McCauley

 

 

Title:

Principal

 

 

 

 

 

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

 

 

 

ABN AMRO BANK NV,

 

as a Revolving Credit Lender and

 

Term A Lender

 

 

 

 

 

By:

/s/ Mark Allen Smith

 

 

Name:

Mark Allen Smith

 

 

Title:

Managing Director

 

 

 

 

 

By:

/s/ Ece Bennett

 

 

Name:

Ece Bennett

 

 

Title:

Director

 

 

 

 

 

 

 

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

 

 

 

NATIONAL CITY BANK,

 

as Administrative Agent

 

 

 

 

 

By:

/s/ David G. McNeely

 

 

Name:

David G. McNeely

 

 

Title:

Senior Vice President

 

 

 

 

 

NATIONAL CITY BANK,

 

as a Revolving Credit Lender and as a Term A Lender

 

 

 

 

 

By:

/s/ David G. McNeely

 

 

Name:

David G. McNeely

 

 

Title:

Senior Vice President

 

 

 

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

 

 

 

WELLS FARGO BANK, NATIONAL
ASSOCIATION,

 

as Administrative Agent

 

 

 

 

 

By:

/s/ Rosalie C. Hawley

 

 

Name:

Rosalie C. Hawley

 

 

Title:

Vice President

 

 

 

 

 

WELLS FARGO BANK, NATIONAL
ASSOCIATION,

 

as a Revolving Credit Lender and as a Term A

 

Lender

 

 

 

 

 

By:

/s/ Rosalie C. Hawley

 

 

Name:

Rosalie C. Hawley

 

 

Title:

Vice President

 

 

 

 

 

WELLS FARGO BANK, NATIONAL
ASSOCIATION,

 

as an Increasing Revolving Credit Lender
and an Increasing Term A Lender

 

 

 

 

 

By:

/s/ Rosalie C. Hawley

 

 

Name:

Rosalie C. Hawley

 

 

Title:

Vice President

 

 

 

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

 

 

 

ABN AMRO BANK NV,

 

as an Increasing Revolving Credit Lender and

 

Increasing Term A Lender

 

 

 

 

 

 

By:

/s/ Mark Allen Smith

 

 

Name:

Mark Allen Smith

 

 

Title:

Managing Director

 

 

 

 

 

 

 

 

 

By:

/s/ Ece Bennett

 

 

Name:

Ece Bennett

 

 

Title:

Director

 

 

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

 

 

 

BMO CAPITAL MARKETS FINANCING, INC.,
as an Increasing Revolving Credit Lender
and Increasing Term A Lender

 

 

 

 

 

By:

/s/ Thomas A. Batterham

 

 

Name:

Thomas A. Batterham

 

 

Title:

Managing Director

 

 

 

 

 

 

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

 

 

 

BMO CAPITAL MARKETS FINANCING, INC.,
as a Revolving Credit Lender and
Term A Lender

 

 

 

 

 

By:

/s/ Thomas A. Batterham

 

 

Name:

Thomas A. Batterham

 

 

Title:

Managing Director

 

 

 

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

 

 

CITIBANK, N.A.,
as a Revolving Credit Lender and a Term A Lender

 

 

 

 

 

By:

/s/ Peter Olnowich

 

 

Name:

Peter Olnowich

 

 

Title:

Vice President

 

 

 

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

 

 

 

Export Development Canada,
as a Term A Lender

 

 

 

 

 

By:

/s/ Matthew Devine

 

 

Name:

Matthew Devine

 

 

Title:

Asset Manager

 

 

 

 

 

 

 

 

 

By:

/s/ Howard Clysdale

 

 

Name:

Howard Clysdale

 

 

Title:

Portfolio Manager

 

 

 

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

 

 

 

FIRST COMMERCIAL BANK, LOS ANGELES BRANCH,

as a Revolving Credit Lender

 

 

 

 

 

By:

/s/ Larry Jen-Yu Lai

 

 

Name:

Larry Jen-Yu Lai

 

 

Title:

SAVP & Deputy General Manager

 

 

 

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

 

 

 

FIRST COMMONWEALTH BANK,

as an existing Term A Lender

 

 

 

 

 

By:

/s/ C. Forrest Tefft

 

 

Name:

C. Forrest Tefft

 

 

Title:

Senior Vice President

 

 

 

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

 

 

 

FIRST COMMONWEALTH BANK,

as an additional Revolving Credit Lender and
an Increasing Term A Lender

 

 

 

 

 

By:

/s/ Anthony M. Cardone

 

 

Name:

Anthony M. Cardone

 

 

Title:

Vice President

 

 

 

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

 

 

 

FIRSTMERIT BANK, N.A.,
as a Revolving Credit Lender and a Term Loan A Lender

 

 

 

 

 

By:

/s/ Edward Yannayon

 

 

Name:

Edward Yannayon

 

 

Title:

Senior Vice President

 

 

 

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

 

 

 

GOLDMAN SACHS CREDIT PARTNERS, L.P.,
as an Increasing Revolving Credit Lender and
Increasing Term A Lender

 

 

 

 

 

By:

/s/ Mark Walton

 

 

Name:

Mark Walton

 

 

Title:

Authorized Signatory

 

 

 

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

 

 

 

Hua Nan Commerical Bank, Ltd.
New York Agency,
as an Additional Revolving Credit Lender
and Additional Term A Lender

 

 

 

 

 

By:

/s/ Henry Hsieh

 

 

Name:

Henry Hsieh

 

 

Title:

Assistant Vice President

 

 

 

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

 

 

 

KEYBANK NATIONAL ASSOCIATION,
as a Term A Lender

 

 

 

 

 

By:

/s/ Suzannah Harris

 

 

Name:

Suzannah Harris

 

 

Title:

Vice President

 

 

 

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

 

 

 

MORGAN STANLEY SENIOR FUNDING, INC.,
as a Revolving Credit Lender and
Term A Lender

 

 

 

 

 

By:

/s/ Daniel Twenge

 

 

Name:

Daniel Twenge

 

 

Title:

Vice President

 

 

 

 

 

 

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

 

 

 

MORGAN STANLEY SENIOR FUNDING, INC.,
as an Increasing Revolving Credit Lender and
Increasing Term A Lender

 

 

 

 

 

By:

/s/ Daniel Twenge

 

 

Name:

Daniel Twenge

 

 

Title:

Vice President

 

 

 

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

 

 

 

PNC BANK, NATIONAL ASSOCIATION,
as a Revolving Credit Lender and
Term A Lender

 

 

 

 

 

By:

/s/ Louis K. McLinden

 

 

Name:

Louis K. McLinden

 

 

Title:

Vice President

 

 

 

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

 

 

 

RAYMOND JAMES BANK,
as a Revolving Credit Lender and
a Term A Lender

 

 

 

 

 

By:

/s/ Joseph A. Ciccolini

 

 

Name:

Joseph A. Ciccolini

 

 

Title:

Vice President - Senior Corporate Banker

 

 

 

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

 

 

 

RBS CITIZENS, NATIONAL ASSOCIATION,
as a Term A Lender

 

 

 

 

 

By:

/s/ André Nazareth

 

 

Name:

André Nazareth

 

 

Title:

Senior Vice President

 

 

 

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

 

 

 

SUNTRUST BANK,
as an Additional Revolving Credit
Lender and Additional Term A Lender

 

 

 

 

 

By:

/s/ J. Matthew Rowand

 

 

Name:

J. Matthew Rowand

 

 

Title:

Vice President

 

 

 

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

 

 

 

TD BANKNORTH, N.A.,
as a Term A Lender

 

 

 

 

 

By:

/s/ James J. Riley

 

 

Name:

James J. Riley

 

 

Title:

Managing Director

 

 

 

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

 

 

 

UNION BANK OF CALIFORNIA, N.A.,
as an additional Revolving Credit Lender
and an Increasing Term A Lender

 

 

 

 

 

By:

/s/ David Thurber

 

 

Name:

David Thurber

 

 

Title:

Vice President

 

 

 

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

 

 

 

U.S. BANK, N.A.,
as a Term A Lender

 

 

 

 

 

By:

/s/ Karen Meyer

 

 

Name:

Karen Meyer

 

 

Title:

Vice President

 

 

 

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

 

Schedule I

 

COMMITMENTS AND APPLICABLE LENDING OFFICES

 

Name of
Lender

 

Additional
Term A
Commitment

 

Increase in
Revolving Credit
Commitment

 

Revolving Credit
Commitment

 

Domestic Lending
Office

 

Eurodollar
Lending
Office

Bank of America N.A.

 

$

17,247,706

 

$

22,752,294

 

N/A

 

On file with the Paying Agent

 

On file with the Paying Agent

Wells Fargo, N.A.

 

$

17,247,706

 

$

22,752,294

 

N/A

 

On file with the Paying Agent

 

On file with the Paying Agent

First Commonwealth Bank

 

$

12,935,780

 

$

17,064,220

 

N/A

 

On file with the Paying Agent

 

On file with the Paying Agent

SunTrust Bank

 

$

12,935,780

 

N/A

 

$

17,064,220

 

On file with the Paying Agent

 

On file with the Paying Agent

Morgan Stanley Senior Funding, Inc.

 

$

8,623,853

 

$

11,376,147

 

N/A

 

On file with the Paying Agent

 

On file with the Paying Agent

ABN Amro Bank

 

$

6,467,890

 

$

8,532,110

 

N/A

 

On file with the Paying Agent

 

On file with the Paying Agent

BMO Capital Markets

 

$

6,467,890

 

$

8,532,110

 

N/A

 

On file with the Paying Agent

 

On file with the Paying Agent

Union Bank of California

 

$

6,467,890

 

N/A

 

$

8,532,110

 

On file with the Paying Agent

 

On file with the Paying Agent

Goldman Sachs Credit Partners L.P.

 

$

4,311,927

 

$

5,688,073

 

N/A

 

On file with the Paying Agent

 

On file with the Paying Agent

Hua Nan Bank

 

$

1,293,578

 

N/A

 

$

1,706,422

 

On file with the Paying Agent

 

On file with the Paying Agent

Total

 

$

94,000,000

 

$

96,697,248

 

$

27,302,752

 

 

 

 

 

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

 

CONSENT

 

Dated as of March 31, 2008

 

Each of the undersigned, as Guarantor under the Amended and Restated Subsidiary
Guaranty and Grantor under the Amended and Restated Security Agreement (as
amended by the Amendment No. 3 to the Credit Agreement and Amendment No. 1 to
the Security Agreement dated as of the date hereof), for the benefit of the
Paying Agent and the benefit of the Lenders parties to the Credit Agreement
referred to in the foregoing Amendment, hereby consents to such Amendment and
hereby confirms and agrees that (a) notwithstanding the effectiveness of such
Amendment, each of the Amended and Restated Subsidiary Guaranty and Amended and
Restated Security Agreement is, and shall continue to be, in full force and
effect and is hereby ratified and confirmed in all respects, except that, on and
after the effectiveness of such Amendment, each reference in the Amended and
Restated Subsidiary Guaranty and Amended and Restated Security Agreement to the
“Credit Agreement”, “thereunder”, “thereof” or words of like import shall mean
and be a reference to the Credit Agreement, as amended by such Amendment, and
(b) the Collateral Documents to which such Grantor is a party and all of the
Collateral described therein do, and shall continue to, secure the payment of
all of the Secured Obligations (in each case, as defined therein).

 

This Consent shall be governed by, and construed in accordance with, the laws of
the State of New York

 

 

SDI INVESTMENT COMPANY

 

 

 

By

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: President

 

 

 

NEW MILLENNIUM BUILDING SYSTEMS, LLC

 

 

 

By:    Steel Dynamics, Inc., its sole member

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

STEEL DYNAMICS SALES NORTH AMERICA,
INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

 

ROANOKE ELECTRIC STEEL CORPORATION

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

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

 

 

SHREDDED PRODUCTS, LLC

 

By:  ROANOKE ELECTRIC STEEL
CORPORATION, MANAGER AND SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

JOHN W. HANCOCK, JR., LLC

 

By:  ROANOKE ELECTRIC STEEL
CORPORATION, MANAGER AND SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

NEW MILLENNIUM BUILDING SYSTEMS,
INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

SOCAR OF OHIO, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

STEEL OF WEST VIRGINIA, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

 

SWVA, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

MARSHALL STEEL, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

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

 

 

STEEL VENTURES, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

 

Title: Vice President

 

 

 

 

SHREDDED PRODUCTS II, LLC

 

By: STEEL DYNAMICS, INC.,MANAGER AND
SOLE MEMBER

 

By:

/s/ Theresa E. Wagler

 

 

 

Name: Theresa E. Wagler

 

 

 

Title: Vice President

 

 

 

 

 

 

THE TECHS INDUSTRIES, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

 

Name: Theresa E. Wagler

 

 

 

Title: Vice President

 

 

 

 

 

 

ADMETCO, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

 

Name: Theresa E. Wagler

 

 

 

Title: Vice President

 

 

 

 

AUBURN INVESTMENT COMPANY, LLC

 

By: OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

 

Name: Theresa E. Wagler

 

 

 

Title: Vice President

 

 

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

 

 

CAPITOL CITY METALS, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

CAROLINA INVESTMENT COMPANY, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

GLOBAL SHREDDING TECHNOLOGIES, LTD.,
LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

INDUSTRIAL SCRAP CORPORATION

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

INDUSTRIAL SCRAP, LLC

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

JACKSON IRON & METAL COMPANY, INC.

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

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

 

 

LUCKY STRIKE METALS, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

MICHIGAN PROPERTIES ECORSE, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

OMNISOURCE BAY CITY, LLC

 

By:  JACKSON IRON & METAL COMPANY,
INC., SOLE MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

OMNISOURCE ATHENS DIVISION, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

OMNISOURCE CORPORATION

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

OMNISOURCE INDIANAPOLIS, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

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

 

 

OMNISOURCE MEXICO, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

OMNISOURCE TRANSPORT, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

OMNISOURCE, LLC

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

RECOVERY TECHNOLOGIES, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

 

SCIENTIFIC RECYCLING GROUP, LLC

 

By:  OMNISOURCE CORPORATION, SOLE
MEMBER

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

 

 

SUPERIOR ALUMINUM ALLOYS, LLC

 

 

 

By:

/s/ Theresa E. Wagler

 

 

Name: Theresa E. Wagler

 

 

Title: Vice President

 

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