Document:

Amendment No. 4 to Credit Agreement and Consent

 Exhibit 10.23(c) 
 AMENDMENT NO. 4 TO CREDIT AGREEMENT AND CONSENT 
 This Amendment No. 4 to Credit Agreement and
Consent (this “Amendment”), dated as of March 24, 2008, amends that certain Credit Agreement, dated as of September 19, 2005 (as amended, the “Agreement”), among the financial institutions from time to
time parties thereto (such financial institutions, together with their respective successors and assigns, are referred to hereinafter each individually as a “Lender” and collectively as the “Lenders”), Bank of
America, N.A., with an office at 55 South Lake Avenue, Suite 900, Pasadena, California 91101, as administrative agent for the Lenders (in its capacity as agent, the “Agent”), Spansion LLC, a Delaware limited liability company
(“Borrower”), and Spansion Inc., a Delaware corporation (“Parent”). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Agreement. 
 R E C I T A L S 
 WHEREAS, Borrower,
the Lenders and the Agent have entered into the Agreement; 
 WHEREAS, Borrower desires to amend the Agreement and has requested the
Agent’s and the Required Lender’s consent for Parent to guaranty the lease obligations of Borrower arising under that certain Master Rental Agreement dated March 19, 2008 with MacQuarie Electronics USA Inc., in connection with
Borrower’s the lease of one ASML Twinscan XT: 1900Gi (the “Scanner”) and all related attachments, accessories and peripherals (the “Parent Guaranty”); and 
 WHEREAS, the Agent and the Required Lenders are willing to do so, subject to the terms and conditions stated herein. 
 NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the Agent, the Required Lenders, and the Borrower hereby agree as follows. 
 A G R E E M E N T 
 Section 1. Amendment. Section 7.13 (Debt) of the Agreement is hereby amended to replace clause (c) thereof with the following:

 “(c) Capital Leases of Equipment and secured Debt incurred to purchase or finance Equipment; provided,
that, (i) any such Debt is not in excess of the fair market value (evidenced by an officer’s certificate delivered to Agent) of the Equipment being leased or financed; (ii) the aggregate amount of all such Equipment Debt does
not exceed 15% of Total Assets; and (iii) Liens securing the same attach only to the Equipment being leased or financed;” 
  

 1 

 Section 2. Consent. 
 A. Pursuant to Section 7.12 (Guaranties) of the Agreement, neither Parent, nor the Borrower, nor any of their Subsidiaries shall
make, issue, or become liable on any Guaranty, except (i) the Guaranties of the Obligations by Parent and the Borrower’s domestic Subsidiaries in favor of the Agent, (ii) the Guaranties of the Debt evidenced by the High Yield Notes by
Parent and Parent’s and the Borrower’s domestic Subsidiaries in favor of the Trustee for the benefit of the noteholders thereof, and (iii) the Guaranties of the Senior Secured Notes by Parent and Parent’s and the Borrower’s
domestic Subsidiaries in favor of the Trustee (2007) for the noteholders thereof. 
 B. Notwithstanding any of the terms
of the Agreement to the contrary, including, without limitation, Section 7.12 (Guaranties) of the Agreement, the Agent and the Required Lenders hereby consent to the Parent Guaranty, subject to satisfaction of the conditions set forth in
Section 3 of this Agreement. This consent shall be effective only in this specific instance and for the specific purpose for which it is given, and shall not entitle Borrower to any other or further consent in any similar or other
circumstances. 
 C. The consent set forth herein is limited precisely as written and shall not be deemed to (i) be a
waiver or modification of any other term or condition of the Agreement or any other Loan Document, or (ii) prejudice any right or remedy which the Agent or the Lenders may now have or may have in the future (except to the extent such right or
remedy is based upon the consent set forth herein) under or in connection with the Agreement or any Loan Document. 
 Section 3.
Conditions Precedent. The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent: 
 A. Amendment. A fully executed copy of this Amendment signed by the Borrower and the Required Lenders, and acknowledged by the Guarantor, shall be delivered to the Agent. 
 B. Officer’s Certificate. The Agent shall have received a copy of the fully executed Officer’s Certificate attesting that
the Debt owing with respect to the Capital Leases of (i) the Scanner, and (ii) two ASML I-Line Steppers PAS 5500/200 and one ASML 24mm Scanner PAS 5500/500, respectively, does not exceed the fair market value of such items of Equipment,
which shall be in form and substance reasonably satisfactory to the Agent and the Required Lenders. 
 C. Other
Documents. The Borrower shall have executed and delivered to the Agent such other documents and instruments as the Agent may reasonably require in furtherance of this Amendment. 
 Section 4. Miscellaneous. 
 A. Survival of Representations and Warranties. All representations and warranties made in the Agreement or any other document or documents relating thereto, including, without limitation, any Loan Document
furnished in connection with this Amendment, shall survive the execution and delivery of this Amendment and the other Loan Documents, and no investigation by the Agent or the Lenders or any closing shall affect the representations and warranties or
the right of the Agent or the Lenders to rely thereon. 
  

 2 

 B. Reference to Agreement. The Agreement and each of the other Loan Documents, and
any and all other agreements, documents or instruments now or hereafter executed and delivered pursuant to the terms hereof, or pursuant to the terms of the Agreement as amended hereby, are hereby amended so that any reference therein to the
Agreement shall mean a reference to the Agreement as amended hereby. 
 C. Agreement Remains in Effect. The Agreement
and the other Loan Documents, as amended hereby, remain in full force and effect and the Borrower ratifies and confirms its agreements and covenants contained therein. The Borrower hereby confirms that, after giving effect to this Amendment, no
Event of Default or Default exists as of the effective date of this Amendment. 
 D. Severability. Any provision of
this Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.

 E. APPLICABLE LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AS
OPPOSED TO THE CONFLICT OF LAWS PROVISIONS PROVIDED THAT PERFECTION ISSUES WITH RESPECT TO ARTICLE 9 OF THE UCC MAY GIVE EFFECT TO APPLICABLE CHOICE OR CONFLICT OF LAW RULES SET FORTH IN ARTICLE 9 OF THE UCC) OF THE STATE OF CALIFORNIA. 

F. Successors and Assigns. This Amendment is binding upon and shall inure to the benefit of the Agent, the Lenders, and the
Borrower and their respective successors and assigns; provided, however, that the Borrower may not assign or transfer any of its rights or obligations hereunder without the prior written consent of the Lenders. 
 G. Counterparts. This Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed to be
an original, but all of which when taken together shall constitute one and the same instrument. 
 H. Headings. The
headings, captions and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment. 
 I. NO ORAL AGREEMENTS. THIS AMENDMENT, TOGETHER WITH THE OTHER LOAN DOCUMENTS AS WRITTEN, REPRESENTS THE FINAL AGREEMENT AMONG THE AGENT, THE LENDERS, AND THE BORROWER AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE AGENT, THE LENDERS, AND THE BORROWER. 
 ***** 
  

 3 

 IN WITNESS WHEREOF, the parties have executed this Amendment on the date first above written. 

 

			
	“BORROWER”
	
	SPANSION LLC,
	a Delaware limited liability company
		
	By:	 	/s/ Dario Sacomani
	Name:	 	Dario Sacomani
	Title:	 	Chief Financial Officer

  

 S-1 
 Amendment No. 4 to Credit Agreement and Consent 

			
	“PARENT”
	
	SPANSION INC.,
	a Delaware corporation
		
	By:	 	/s/ Dario Sacomani
	Name:	 	Dario Sacomani
	Title:	 	Chief Financial Officer

  

 S-2 
 Amendment No. 4 to Credit Agreement and Consent 

			
	“AGENT”
	
	BANK OF AMERICA, N.A.,
	as the Agent
		
	By:	 	/s/ Steven W. Sharp
	Name:	 	Steven W. Sharp
	Title:	 	Vice President

  

 S-3 
 Amendment No. 4 to Credit Agreement and Consent 

			
	“LENDERS”
	
	BANK OF AMERICA, N.A.,
		
	By:	 	/s/ Steven W. Sharp
	Name:	 	Steven W. Sharp
	Title:	 	Vice President

  

 S-4 
 Amendment No. 4 to Credit Agreement and Consent 

			
	GE CAPITAL CORPORATION
		
	By:	 	/s/ Dwayne Coker
	Name:	 	Dwayne Coker
	Title:	 	Duly Authorized Signatory

  

 S-5 
 Amendment No. 4 to Credit Agreement and Consent 

			
	MERRILL LYNCH CAPITAL, a division
	of Merrill Lynch Business Financial Services Inc.
		
	By:	 	/s/ Dwayne Coker
	Name:	 	Dwayne Coker
	Title:	 	Duly Authorized Signatory

  

 S-6 
 Amendment No. 4 to Credit Agreement and Consent 

			
	WELLS FARGO FOOTHILL, INC.
		
	By:	 	/s/ Jennifer Fong
	Name:	 	Jennifer Fong
	Title:	 	AVP

  

 S-7 
 Amendment No. 4 to Credit Agreement and Consent 

 Each of the undersigned parties (each, a “Guarantor”), (i) consents to and approves
the execution and delivery of this Amendment by the parties hereto, (ii) agrees that this Amendment does not and shall not limit or diminish in any manner the obligations of the Guarantor pursuant to the guarantee delivered in connection with
the Agreement (the “Guarantee”) by the undersigned and that such obligations would not be limited or diminished in any manner even if Guarantor had not reaffirmed this Amendment, (iii) agrees that this Amendment shall not be
construed as requiring the consent of the Guarantor in any other circumstance, (iv) reaffirms each of its obligations under the Guarantee, and (v) agrees that the Guarantee remain in full force and effect and is hereby ratified and
confirmed. 
  

			
	“GUARANTORS”
	
	SPANSION INTERNATIONAL, INC.,
	a Delaware corporation
		
	By:	 	/s/ Dario Sacomani
	Name:	 	Dario Sacomani
	Title:	 	Chief Financial Officer

  

 S-8 
 Amendment No. 4 to Credit Agreement and Consent 

			
	SPANSION INC.,
	a Delaware corporation
		
	By:	 	/s/ Dario Sacomani
	Name:	 	Dario Sacomani
	Title:	 	Chief Financial Officer

  

 S-9 
 Amendment No. 4 to Credit Agreement and Consent 

			
	CERIUM LABORATORIES LLC,
	a Delaware limited liability company
		
	By:	 	/s/ Dario Sacomani
	Name:	 	Dario Sacomani
	Title:	 	Chief Financial Officer

  

 S-10 
 Amendment No. 4 to Credit Agreement and Consent 

			
	SPANSION TECHNOLOGY, INC.,
	a Delaware corporation
		
	By:	 	/s/ Dario Sacomani
	Name:	 	Dario Sacomani
	Title:	 	Chief Financial Officer

  

 S-11 
 Amendment No. 4 to Credit Agreement and ConsentAmendment No. 3 to Facility Agreement

 Exhibit 10.40C 
 

 
 

 
  

	To:	Finance Parties, as defined in the below-mentioned Facility Agreement 

 February 18, 2008 
 Dear Sir or Madam: 
 Request for Amendment No. 3 
 We refer to the senior facility agreement dated 30 March 2007 (the
“Facility Agreement”) between, among others, Spansion Japan Limited and GE Capital Leasing Corporation as Administrative Agent and its subsequent amendments dated 1 August and 13 December 2007. 
 Capitalised terms used in this letter, unless otherwise defined herein, shall have the meaning given to them in the Facility Agreement. 
 The Borrower entered into a new syndicated, committed and unsecured revolving long-term loan facility arranged by The Bank of Tokyo-Mitsubishi UFJ, Ltd. on
December 28, 2007 (the “BTMU Revolver”). The maximum limit amount of the BTMU Revolver is ¥14,000,000,000. In order to remove a conflict between the Facility Agreement and the BTMU Revolver and in expectation of an increase
of its maximum limit amount in future, the Borrower hereby requests that the amount “¥10,000,000,000” in sub-paragraph (f)(i) of the definition of “Permitted Financial Indebtedness” in the Facility Agreement be deleted and
replaced with the amount “¥18,000,000,000”. The Borrower hereby confirms that the money borrowed pursuant to the BTMU Revolver has not exceeded ¥10,000,000,000 prior to the date hereof. 
 Also, in order to replace the reference in Schedule 7 (Refinancing Financial Indebtedness Repayment Amounts) to certain manufacturing equipment with other
manufacturing equipment and to make corrections to the serial numbers of certain manufacturing equipment in Schedule 7, as listed in Exhibit 1 to this letter, the Borrower hereby requests that Schedule 7 (Refinancing Financial Indebtedness
Repayment Amounts) be deleted in its entirety and replaced with Exhibit 2 to this letter. 
 Finally, the Borrower hereby requests that the words
“and (iii) the finance lease agreement dated 17 March 2004 (including the schedules thereto) between FASL Japan Corporation and Hitachi Capital Corporation Contract No.: 4040467-00” be added after the words “at the date
hereof” in the definition of “Refinancing Financial Indebtedness”. 
 We hereby request confirmation of the Lenders’ consent to the
foregoing request for amendment by your countersignature and return of the enclosed copy of this letter. 
 The provisions of the Facility Agreement and the
other Finance Documents shall, save as amended by this letter, continue in full force and effect. 
 This letter is designated as a Finance Document.

 This letter shall be governed by and construed in accordance with Japanese law. 

	
	Yours faithfully,
	
	 /s/ Spansion Japan Limited
 Masao Taguchi

	For and on behalf of
	Spansion Japan Limited

  

 - 2 - 

	
	Accepted and agreed
	
	 /s/ GE Capital Leasing Corporation
 Takashi Okuda

	GE Capital Leasing Corporation
	As Arranger

  

 - 3 - 

	
	Accepted and agreed
	
	 /s/ Sumisho Lease Co., Ltd
 Authorized Signatory

	Sumisho Lease Co., Ltd
	As Arranger

  

 - 4 - 

	
	Accepted and agreed
	
	 /s/ Mitsui Leasing & Development, Ltd.
 Osamu Mori

	Mitsui Leasing & Development, Ltd.
	As Arranger

  

 - 5 - 

	
	Accepted and agreed
	
	 /s/ GE Capital Leasing Corporation
 Takashi Okuda

	GE Capital Leasing Corporation
	As Administrative Agent on behalf of each Finance Party

  

 - 6 - 

	
	Accepted and agreed
	
	 /s/ Resona Bank, Limited
 Hitoshi Ishimura

	Resona Bank, Limited
	As Paying Agent on behalf of each Finance Party

  

 - 7 - 

	
	Accepted and agreed
	
	 /s/ GE Capital Leasing Corporation
 Takashi Okuda

	GE Capital Leasing Corporation
	As Security Agent on behalf of each Finance Party

  

 - 8 - 

	
	Accepted and agreed
	
	 /s/ GE Capital Asset Finance Corporation
 Kuge Munehiko

	For and on behalf of
	GE Capital Asset Finance Corporation
	As Lender

  

 - 9 - 

	
	Accepted and agreed
	
	 /s/ Mitsui Leasing & Development, Ltd.
 Osamu Mori

	For and on behalf of
	Mitsui Leasing & Development, Ltd.
	As Lender

  

 - 10 - 

	
	Accepted and agreed
	
	 /s/ Sumisho Lease Co., Ltd.
 Authorized Signatory

	For and on behalf of
	Sumisho Lease Co., Ltd.
	As Lender

  

 - 11 - 

	
	Accepted and agreed
	
	 /s/ Resona Bank, Limited
 Hitoshi Ishimura

	For and on behalf of
	Resona Bank, Limited
	As Lender

  

 - 12 - 

	
	Accepted and agreed
	
	 /s/ Showa Leasing Co., Ltd.
 Masami Matsushita

	For and on behalf of
	Showa Leasing Co., Ltd.
	As Lender

  

 - 13 - 

	
	Accepted and agreed
	
	 /s/ Mitsubishi UFJ Lease & Finance Company Limited
 Tatsuhisa Takahashi

	For and on behalf of
	Mitsubishi UFJ Lease & Finance Company Limited
	As Lender

  

 - 14 - 

	
	Accepted and agreed
	
	 /s/ NTT Finance Corporation
 Authorized Signatory

	For and on behalf of
	NTT Finance Corporation
	As Lender

  

 - 15 - 

	
	Accepted and agreed
	
	 /s/ Century Leasing System, Inc.
 Takao Arai

	For and on behalf of
	Century Leasing System, Inc.
	As Lender

  

 - 16 - 

	
	Accepted and agreed
	
	 /s/ Kyodo Leasing Co., Ltd.
 Shinya Morito

	For and on behalf of
	Kyodo Leasing Co., Ltd.
	As Lender

  

 - 17 - 

	
	Accepted and agreed
	
	 /s/ BOT Lease Co., Ltd.
 Yasuhiko Nakanishi

	For and on behalf of
	BOT Lease Co., Ltd.
	As Lender

  

 - 18 - 

	
	Accepted and agreed
	
	  
	For and on behalf of
	ABN Amro Bank N.V.
	As Lender

  

 - 19 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00141-of-00352.parquet"}]]