THE COLLATERAL AGENT HEREUNDER FOR THE BENEFIT OF THE
SECURED PARTIES AND SHALL SUBSIST ONLY FOR SO LONG AS THE SECURED OBLIGATIONS
REMAIN OUTSTANDING AND UNTIL THE SAME IS FULLY DISCHARGED;
(E)
ALL REFERENCES TO RECEIVABLES "ACQUIRED BY THE COMPANY" OR
"CONTRIBUTED TO THE COMPANY" SHALL BE DEEMED TO INCLUDE RECEIVABLES CONTRIBUTED,
SOLD OR OTHERWISE TRANSFERRED BY HUNTSMAN INTERNATIONAL TO THE COMPANY AND
RECEIVABLES SUBROGATED, SOLD OR OTHERWISE TRANSFERRED DIRECTLY FROM AN
ORIGINATOR OR OTHER ENTITY TO THE COMPANY; AND
(F)
ALL PROVISIONS APPLICABLE TO RECEIVABLES CONTRIBUTED TO THE
COMPANY BY HUNTSMAN INTERNATIONAL SHALL BE DEEMED TO BE EQUALLY APPLICABLE TO
RECEIVABLES SUBROGATED, SOLD OR OTHERWISE TRANSFERRED FROM AN ORIGINATOR OR
OTHER ENTITY TO THE COMPANY.
PART 2 THE FACILITY
2.
THE FACILITY
2.1
FACILITY
Subject to the terms of this Agreement, each Lender agrees to make available to
the Company a committed multicurrency revolving loan facility in an amount not
exceeding its Commitment.
On the Signing Date the Aggregate Commitment equals
€225,000,000.
2.2
THE LOANS
(A)
ON THE TERMS AND SUBJECT TO THE CONDITIONS HEREOF, ON THE CLOSING
DATE AND THEREAFTER FROM TIME TO TIME PRIOR TO THE FACILITY TERMINATION DATE
EACH LENDER SHALL MAKE LOANS TO THE COMPANY IN AN AMOUNT EQUAL TO ITS PRO RATA
SHARE OF EACH LOAN REQUESTED.
(B)
SUBJECT TO THE FOREGOING AND TO THE LIMITATIONS SET FORTH HEREIN,
THE COMPANY MAY BORROW, REPAY AND REBORROW THE LOANS HEREUNDER.
6
2.3
AMOUNT AND CURRENCY OF LOANS
(A)
EACH BORROWING OF LOANS HEREUNDER (EACH A "BORROWING") SHALL
COMPRISE OF A MAXIMUM OF THREE (3) LOANS, EACH IN A DIFFERENT APPROVED CURRENCY.
(B)
EACH BORROWING SHALL BE IN A MINIMUM PRINCIPAL AMOUNT EQUAL TO
SUCH AMOUNT AS WILL ENSURE THAT:
(I)
THE AGGREGATE AMOUNT ADVANCED (IN EURO AND THE EURO EQUIVALENT)
BY THE LENDERS IN RESPECT OF SUCH BORROWING WOULD NOT BE LESS THAN (IN THE CASE
OF THE INITIAL BORROWING) €10,000,000 AND (THEREAFTER) €1,000,000 (PROVIDED THAT
SUCH SUBSEQUENT MINIMUM AMOUNT WILL NOT APPLY TO THE EXTENT THAT AT THE TIME OF
ANY BORROWING HEREUNDER THE AGGREGATE AMOUNT AVAILABLE (IN EURO AND/OR THE EURO
EQUIVALENT) TO BE DRAWN FROM THE LENDERS AS PROVIDED IN THIS AGREEMENT IS LESS
THAN SUCH MINIMUM AMOUNT AT SUCH TIME); AND
(II)
IN RESPECT OF EACH LOAN, THE AMOUNT ADVANCED BY THE LENDERS WOULD
BE AN INTEGRAL MULTIPLE OF €1,000 IN RESPECT OF A LOAN IN EURO, $1,000 IN
RESPECT OF A LOAN IN U.S. DOLLARS AND £1,000 IN RESPECT OF A LOAN IN STERLING.
(C)
THE AMOUNT OF A BORROWING (BEING THE AGGREGATE OF (I) ANY LOAN IN
EURO AND (II) THE EURO EQUIVALENT OF EACH LOAN IN A LOCAL CURRENCY) MADE ON ANY
BORROWING DATE PLUS THE PRINCIPAL BALANCE OF ALL OTHER LOANS WHICH WILL BE
OUTSTANDING ON SUCH BORROWING DATE SHALL BE LESS THAN OR EQUAL TO THE THEN
APPLICABLE MAXIMUM AVAILABLE BORROWING.
(D)
EACH LOAN MADE BY THE LENDERS HEREUNDER SHALL BE DENOMINATED IN AN
APPROVED CURRENCY.
(E)
THE AMOUNT OF EACH LOAN MADE BY THE