Document:

Amendment  and Restatement Agreement

 Exhibit 10.4 
  

					
	DATED	 	15 April	 	2008

  
 BST SAFETY TEXTILES ACQUISITION GMBH 
 arranged by 
 GOLDMAN SACHS CREDIT PARTNERS L.P. 
 and 
 UBS SECURITIES LLC 
 as Mandated Lead
Arrangers 
 with 
 GOLDMAN
SACHS CREDIT PARTNERS L.P. 
 acting as Priority Agent 
 UBS AG, STAMFORD BRANCH 
 acting as Second Lien Agent 
 and 
 GOLDMAN SACHS CREDIT PARTNERS L.P.

 acting as Security Agent 
  
  
 AMENDMENT AND RESTATEMENT 
 AGREEMENT 
 relating to a
€155,000,000 Term and 
 Revolving Facilities Agreement 
 and the Intercreditor Deed 
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 1.
	  	DEFINITIONS AND INTERPRETATION	  	1
			
	 2.
	  	CONDITIONS TO THE AMENDMENTS	  	2
			
	 3.
	  	AMENDMENT AND RESTATEMENT OF THE CREDIT AGREEMENT AND THE INTERCREDITOR DEED	  	3
			
	 4.
	  	MISCELLANEOUS	  	3
			
	 5.
	  	GUARANTEE	  	3
			
	 6.
	  	SECURITY	  	4
			
	 7.
	  	BORROWER ACCESSION	  	4
			
	 8.
	  	AMENDMENT FEE	  	4
			
	 9.
	  	GOVERNING LAW	  	4

  

					
	 SCHEDULE 1
	  	THE BORROWERS AND THE GUARANTORS	  	5
			
	 SCHEDULE 2
	  	CONDITIONS PRECEDENT	  	6
			
	 ANNEX A
	  	AMENDED AND RESTATED CREDIT AGREEMENT	  	
			
	 ANNEX B
	  	AMENDED AND RESTATED INTERCREDITOR DEED	  	

					
	DATED	 	15 April	 	2008

 PARTIES 
  

	(1)	BST U.S. HOLDINGS, LLC, a company duly incorporated and validly existing under the laws of the State of Delaware having its principal place of business at 2711 Centerville
Road, Suite 400, City of Wilmington, County of New Castle, Delaware 19808, the United States of America (the “Parent”); 

  

	(2)	BST SAFETY TEXTILES ACQUISITION GMBH, a limited liability company duly incorporated and validly existing under the laws of the Federal Republic of Germany having its
corporate seat in Freiburg i.Br. and which is registered in the Commercial Register in Freiburg i.Br. under registration number HRB 702044 (the “Original Borrower”); 

  

	(3)	THE COMPANIES listed in Schedule 1 (Borrowers and Guarantors) as revolving borrowers (the “Revolving Borrowers”); 

  

	(4)	THE COMPANIES listed in Schedule 1 (Borrowers and Guarantors) as guarantors (the “Guarantors”); 

  

	(5)	GOLDMAN SACHS CREDIT PARTNERS L.P. and UBS SECURITIES LLC as mandated lead arrangers (the “Mandated Lead Arrangers”); 

  

	(6)	GOLDMAN SACHS CREDIT PARTNERS L.P. acting on behalf of the Priority Lenders and as agent of the other Priority Finance Parties (the “Priority Agent”);

  

	(7)	UBS AG, STAMFORD BRANCH acting on behalf of the Second Lien Lenders and as agent of the other Second Lien Finance Parties (the “Second Lien Agent” and
together with the Priority Agent the “Agents”); 

  

	(8)	GOLDMAN SACHS CREDIT PARTNERS L.P. as security agent for the Secured Parties (the “Security Agent”); and 

  

	(9)	EACH LENDER listed in the signature pages to this Agreement as a Lender. 

 RECITALS 
  

	(A)	The Parties have entered into a term and revolving facility agreement dated 8 December, 2006 (as amended on 1 April 2007, 11 June 2007 and 16 November 2007) (the
“Credit Agreement”) pursuant to which the Original Lenders made Loans to the Borrowers. 

  

	(B)	The Parties have agreed to amend and restate the Credit Agreement and the Intercreditor Deed on the terms of this Agreement. 

 OPERATIVE PROVISIONS 
  

	1.	DEFINITIONS AND INTERPRETATION 

 In this Agreement:

  

	 	(a)	“Amended and Restated Credit Agreement” means the form of amended and restated credit agreement set out in Annex A to this Agreement; 

  

	 	(b)	“Amended and Restated Intercreditor Deed” means the form of amended and restated intercreditor deed set out in Annex B to this Agreement; 

	 	(c)	terms defined in the Amended and Restated Credit Agreement have the same meanings when used in this Agreement unless the context requires otherwise; 

  

	 	(d)	the provisions of Clause 1.2 (Construction) of the Amended and Restated Credit Agreement apply to this Agreement as though they were set out in full in this Agreement except
that references to the Amended and Restated Credit Agreement are to be construed as references to this Agreement; and 

  

	 	(e)	the Parties intend that this Agreement shall take effect as a deed notwithstanding that a party may execute it underhand. 

  

	2.	CONDITIONS TO THE AMENDMENTS 

  

	2.1	Initial conditions 

 The amendments contained in
this Agreement shall only be effective upon receipt by the Agents of all of the documents and other evidence listed in Schedule 2 (Conditions Precedent). The Agents shall notify the Parent and the Lenders promptly upon satisfactory receipt
with such date of notification being the “Effective Date”. 
  

	2.2	Further conditions 

 Each Obligor confirms that on
the date of this Agreement and as of the Effective Date: 
  

	 	(a)	no Default or Event of Default is continuing; 

  

	 	(b)	all the Repeating Representations are true; 

  

	 	(c)	that the Realignment Information Package is in compliance with Clause 25.4(b) of the Amended and Restated Credit Agreement and is not misleading in any material respect;

  

	 	(d)	that the documents and evidence delivered to the Agents in respect of paragraph 3 of Schedule 2 (Conditions Precedent): 

  

	 	(i)	comprise all of the material credit documents (including any amendments to them) to which ASCI or any Subsidiary of ASCI may be party and are true, accurate and complete copies of
such credit documents; and 

  

	 	(ii)	the terms of such credit documents do not require any payment (whether in cash or kind) to be paid by any member of BST Group (both before and after the Realignment Completion Date
and including Narricot (or its successor or entities)) to the financiers under or in connection with those documents; 

  

	 	(e)	that the documents and evidence delivered to the Agents in respect of the implementation of Steps 1 to 4 in respect of paragraph 5 of Schedule 2 (Conditions Precedent)
comprise all of the documents necessary to implement Steps 1 to 4 and are true, accurate and complete copies of such documents; and 

  

	 	(f)	the group structure chart delivered to the Agents in respect of paragraph 9 of Schedule 2 (Conditions Precedent) shows each member of the BST Group after the Realignment
Completion Date and is true, complete and accurate in all material respects. 

	3.	AMENDMENT AND RESTATEMENT OF THE CREDIT AGREEMENT AND THE INTERCREDITOR DEED 

 The Parties agree that with effect from the Effective Date, the Credit Agreement and the Intercreditor Deed shall be amended and restated in the form of the Amended and Restated Credit Agreement and the Amended and
Restated Intercreditor Deed respectively. 
  

	4.	MISCELLANEOUS 

  

	4.1	The provisions of Clauses 41 (Counterparts) and 43 (Enforcement) of the Amended and Restated Credit Agreement apply to this Agreement as though they were set out in
full in this Agreement except that references to the Amended and Restated Credit Agreement are to be construed as references to this Agreement. 

  

	4.2	This Agreement is a Finance Document. 

  

	4.3	Except as otherwise provided in this Agreement, the Finance Documents remain in full force and effect. 

  

	4.4	Except to the extent expressly waived in this Agreement, no waiver is given by this Agreement, and the Lenders expressly reserve all their rights and remedies in respect of any
breach of, or other Default under, the Finance Documents. 

  

	4.5	This Agreement only takes effect upon execution by all the Parties stated in the signature pages to this Agreement. 

  

	4.6	With effect from the date that the Majority Lenders have consented to the terms of this Agreement, the references to “14 April 2008” in paragraphs 5(a) and 6(a)(ii) of the
Waiver Letter shall be replaced by “15 April 2008”. 

  

	4.7	Except in relation to the waivers granted pursuant to paragraph 2 and except in respect of paragraph 12 of the Waiver Letter, the Waiver Letter and each amendment thereof shall
terminate with effect from the Effective Date. 

  

	5.	GUARANTEE 

 On the Effective Date, each Obligor:

  

	 	(a)	confirms its acceptance of the Credit Agreement and the Intercreditor Deed (as amended by this Agreement); 

  

	 	(b)	agrees that it is bound as an Obligor by the terms of the Credit Agreement and the Intercreditor Deed (as amended by this Agreement); and 

  

	 	(c)	(if a Guarantor) confirms that its guarantee: 

  

	 	(i)	continues in full force and effect on the terms of the Credit Agreement as amended and any Accession Letter applicable to that Guarantor; and 

  

	 	(ii)	extends to the obligations of the Obligors under the Finance Documents (including the Credit Agreement as amended by this Agreement), 

 in each case, subject to any limitations set out in Clauses 23.10 (Guarantee Limitations applicable to German Guarantors), 23.11 (Guarantee
Limitations applicable to U.S. Obligors), 23.12 (Guarantee Limitations applicable to Czech  

 
Guarantors) and 23.13 (Guarantee Limitations applicable to Romanian Guarantors) of the Amended and Restated Credit Agreement or as so amended
and any relevant Accession Letter applicable to that Guarantor. 
  

	6.	SECURITY 

  

	6.1	Confirmation 

 On the Effective Date, each Obligor
confirms that: 
  

	 	(a)	any Transaction Security created by it under the Transaction Security Documents extends to the obligations of the Obligors under the Finance Documents (including the Credit
Agreement and the Intercreditor Deed as amended by this Agreement) subject to any limitations set out in the Transaction Security Documents; 

  

	 	(b)	the obligations of the Obligors arising under the Credit Agreement and the Intercreditor Deed as amended by this Agreement are included in the Secured Obligations (as defined in the
Transaction Security Documents) subject to any limitations set out in the Transaction Security Documents; and 

  

	 	(c)	the Transaction Security created under the Transaction Security Documents continues in full force and effect on the terms of the respective Transaction Security Documents.

  

	6.2	No New Security Interest 

 No part of this Agreement
is intended to or will create a registrable security interest. 
  

	7.	BORROWER ACCESSION 

 For the purpose of clause
30.2(a)(i) of the Credit Agreement and with effect from the date that the other conditions of Clause 30.2 (Additional Borrowers) of the Amended and Restated Credit Agreement have been satisfied or waived, each Lender consents to the addition
of ITG Automotive Safety UK Ltd, BST Safety Textiles LLC (renamed or to be renamed ITG Automotive Safety Textiles LLC) and Automotive Safety Components International, Inc. (renamed or to be renamed ITG Automotive Safety Components International,
Inc.) as Borrowers under the Revolving Facility. 
  

	8.	AMENDMENT FEE 

 Within three Business Days of all
the Parties having executed this Agreement, the Parent must pay the Agents (for the account of each Lender in the proportion that all the Commitments of that Lender bears to the Total Commitments) an amendment fee of 0.25 per cent. of the Total
Commitments. 
  

	9.	GOVERNING LAW 

 This Agreement is governed by
English law. 
 This Agreement has been duly executed as a deed and delivered on the date stated at the beginning of this Agreement. 

 SIGNATURES 
  

							
	THE PARENT	 	
	BST U.S. HOLDINGS, LLC	 	
		
	Signed and executed as a Deed	 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	
		
	THE ORIGINAL BORROWER	 	
	BST SAFETY TEXTILES ACQUISITION GMBH	 	
		
	Signed and executed as a Deed	 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	
		
	THE REVOLVING BORROWERS	 	
	BST SAFETY TEXTILES ACQUISITION GMBH	 	
		
	Signed and executed as a Deed	 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	
	
	 BST SAFETY TEXTILES GMBH (RENAMED OR TO BE RENAMED ITG AUTOMOTIVE
 SAFETY TEXTILES GMBH)

		
	Signed and executed as a Deed	 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	

							
	NARRICOT INDUSTRIES L.P.	  		  	
			
	Signed and executed as a Deed	  		  	
				
	By:	 	 /s/
	  		  	
				
	By:	 	 /s/
	  		  	
			
	THE GUARANTORS	  		  	
	THE PARENT	  		  	
	BST U.S. HOLDINGS, LLC	  		  	
			
	Signed and executed as a Deed	  		  	
				
	By:	 	 /s/
	  		  	
				
	By:	 	 /s/
	  		  	
		
	BST SAFETY TEXTILES ACQUISITION GMBH	  	
			
	Signed and executed as a Deed	  		  	
				
	By:	 	 /s/
	  		  	
				
	By:	 	 /s/
	  		  	
			
	BST SAFETY TEXTILES GMBH	  		  	
			
	Signed and executed as a Deed	  		  	
				
	By:	 	 /s/
	  		  	
				
	By:	 	 /s/
	  		  	
		
	BST BREITGEWEBE INTERNATIONAL GMBH	  	
			
	Signed and executed as a Deed	  		  	
				
	By:	 	 /s/
	  		  	
				
	By:	 	 /s/
	  		  	

							
	BST BREITGEWEBE VERWALTUNGS GMBH	 	
			
	Signed and executed as a Deed	 		 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	
		
	NARRICOT INDUSTRIES MANAGEMENT CORP.	 	
			
	Signed and executed as a Deed	 		 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	
			
	NARRICOT INDUSTRIES L.P.	 		 	
			
	Signed and executed as a Deed	 		 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	
			
	BST SAFETY TEXTILES LLC	 		 	
			
	Signed and executed as a Deed	 		 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	
			
	BST SAFETY TEXTILES SP. ZO.O	 		 	
			
	Signed and executed as a Deed	 		 	
				
	By:	 	 /s/
	 		 	
				
	By:	 	 /s/
	 		 	

							
	Lender	 	
		
	IKB DEUTSCHE INDUSTRIEBANK AG, LONDON BRANCH	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ K. McGill
	 		 	
		 	 Name: K. McGill
 Title: Director
	 		 	
				
	By:	 	 /s/ D. Ardron
	 		 	
		 	 Name: D. Ardron
 Title: Director
	 		 	
		
	GE Corporate Finance Bank SAS	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Nicole Gates
	 		 	
		 	 Name: Nicole Gates
 Title: Authorized
Signatory
	 		 	
				
	By:	 	 /s/ Galina Markova
	 		 	
		 	 Name: Galina Markova
 Title: Authorized
Signatory
	 		 	
		
	SunTrust Bank	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ William Humphries
	 		 	
		 	 Name: William Humphries
 Title: Managing
Director
	 		 	

  

							
	Landesbank Baden-Württemberg	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Gabriele Eisenmann
	 		 	
		 	 Name: Gabriele Eisenmann
 Title: Assistant Vice
President
	 		 	
				
	By:	 	 /s/ Raphael Denger
	 		 	
		 	 Name: Raphael Denger
 Title:
	 		 	
		
	The CIT Group/Business Credit, Inc.	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Jang Kim
	 		 	
		 	 Name: Jang Kim
 Title: Vice President
	 		 	
		
	Alie Street Investments 18 Limited	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Sudhir Jain
	 		 	
		 	 Name: Sudhir Jain
 Title: Director
	 		 	
				
	By:	 	 /s/ Mark Smith
	 		 	
		 	 Name: Mark Smith
 Title: Director
	 		 	
		
	Alie Street Investments Limited	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Sudhir Jain
	 		 	
		 	 Name: Sudhir Jain
 Title: Director
	 		 	
				
	By:	 	 /s/ Mark Smith
	 		 	
		 	 Name: Mark Smith
 Title: Director
	 		 	

  

							
	ARES EURO CLO I B.V.	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Miles Alexander
	 		 	
		 	 Name: Miles Alexander
 Title: Director
	 		 	
		
	Bacchus 2006-1-PLC & Bacchus 2007-1 PLC	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Jonathan Lavinier
	 		 	
		 	 Name: Jonathan Lavinier
 Title:
Manager
	 		 	
				
	By:	 	 /s/ Daniel Gooch
	 		 	
		 	 Name: Daniel Gooch
 Title: Manager
	 		 	
		
	CIFC International	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Jennifer Billings
	 		 	
		 	 Name: Jennifer Billings
 Title: Investment Executive

	 		 	
		
	Coltrane CLO Plc	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Richard Heis
	 		 	
		 	 Name: Richard Heis
 Title: Receiver
	 		 	

 Richard Heis is authorized to act as an insolvency practitioner by the ICAEW 
 Ray Jackson is authorized to act as an insolvency practitioner by the IPA 
 The Receivers act as agent for Coltrane CLO Plc and contract without personal liability 
  

							
	 GOLDMAN SACHS ASSET MANAGEMENT CLO,
 PUBLIC LIMITED COMPANY
	 	
				
	By:	 	 Goldman Sachs Asset Manager, L.P.,
 as
Manager
	 		 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Sandra L. Stulberger
	 		 	
		 	 Name: Sandra L. Stulberger
 Title: Authorized
Signatory
	 		 	
		
	Highlander Euro CDO II B.V.	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Mark K. Okada
	 		 	
		 	 Name: Mark K. Okada 
 Title: Executive
Vice President, Strand Advisors, Inc., General Partner of
           Highland Capital Management,
L.P.
	 	
		
	Highlander Euro CDO III B.V.	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Mark K. Okada
	 		 	
		 	 Name: Mark K. Okada 
 Title: Executive
Vice President, Strand Advisors, Inc., General Partner of
           Highland Capital Management,
L.P.
	 	
		
	Highlander Euro CDO IV B.V.	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Mark K. Okada
	 		 	
		 	 Name: Mark K. Okada 
 Title: Executive
Vice President, Strand Advisors, Inc., General Partner of
           Highland Capital Management,
L.P.
	 	

							
	King’s Cross Asset Funding 18 Sarl	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/
	 		 	
		 	 Name: 
 Title: Authorized Signatory
	 		 	
				
	By:	 	 /s/ Daniel Hodgson
	 		 	
		 	 Name: Daniel Hodgson
 Title: Authorized
Signatory
	 		 	
		
	 Sankaty Advisors, LLC as Collateral
 Manager for Nash Point CLO,
 Limited, as Collateral Manager
	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Alan K. Halfenger
	 		 	
		 	 Name: Alan K. Halfenger
 Title: Chief Compliance
Officer
           Assistant Secretary
	 		 	
		
	Nash Point II CLO	 	
				
	By:	 	 Sankaty Advisors LLC,
 as Collateral
Manager
	 		 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Alan K. Halfenger
	 		 	
		 	 Name: Alan K. Halfenger
 Title: Chief Compliance
Officer
           Assistant Secretary
	 		 	

  
  

							
	 Sankaty Advisors, LLC as Collateral
 Manager for Race Point III CLO,
 Limited as Term Lender
	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Alan K. Halfenger
	 		 	
		 	 Name: Alan K. Halfenger
 Title: Chief Compliance
Officer
           Assistant Secretary
	 		 	
		
	CYPRESSTREE CLAIF FUNDING LLC	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Tara E. Kenny
	 		 	
		 	 Name: Tara E. Kenny
 Title: Assistant Vice President

	 		 	
		
	Highland Credit Strategies Fund	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/
	 		 	
		 	 Name:
 Title:
	 		 	
				
	By:	 	 /s/ M. Jason Blackburn
	 		 	
		 	 Name: M. Jason Blackburn
 Title:
Treasurer
	 		 	
		
	Highland Distressed Opportunities, Inc.	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/
	 		 	
		 	 Name:
 Title:
	 		 	
				
	By:	 	 /s/ M. Jason Blackburn
	 		 	
		 	 Name: M. Jason Blackburn
 Title:
Treasurer
	 		 	

							
	King’s Cross Asset Funding 12 Sarl	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/
	 		 	
		 	 Name: 
 Title: Authorized Signatory
	 		 	
				
	By:	 	 /s/ Ruben Autie
	 		 	
		 	 Name: Ruben Autie
 Title: Authorized
Signatory
	 		 	
		
	MARATHON FINANCING I B.V.	 	
			
		 	 By: Marathon Asset Management LC
 Its:
Portfolio Manager and Authorized Signatory
	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Louis T. Hanover
	 		 	
		 	 Name: Louis T. Hanover
 Title: Authorized Signatory

	 		 	
		
	Sandler Capital Structure Opportunities Master Fund, Ltd.	 	
			
		 	 By: Sandler Capital Management, its Investment Manager
 By: SERF Corp., a general partner
	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Moira Mitchell
	 		 	
		 	 Name: Moira Mitchell
 Title: President
	 		 	
		
	HARBOUR TOWN FUNDING LLC	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Tara E. Kenny
	 		 	
		 	 Name: Tara E. Kenny
 Title: Assistant Vice President

	 		 	

							
	LONG LANE MASTER TRUST IV	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Tara E. Kenny
	 		 	
		 	 Name: Tara E. Kenny
 Title: Assistant Vice President

	 		 	
		
	 Sankaty Advisors, LLC as Collateral Manager
 for Prospect Funding I, LLC as Term Lender
  
 Signed and executed as a Deed:

	 	
				
	By:	 	 /s/ Alan K. Halfenger
	 		 	
		 	 Name: Alan K. Halfenger
 Title: Chief Compliance
Officer
           Assistant Secretary
	 		 	
		
	 THE MANDATED LEAD ARRANGERS
  
 GOLDMAN SACHS CREDIT PARTNERS L.P.
	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/
	 		 	
		 	 Name:
 Title:
	 		 	
		
	UBS SECURITIES LLC	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Mary E. Evans
	 		 	
		 	 Name: Mary E. Evans
 Title: Associate
Director
	 		 	
				
	By:	 	 /s/ David B. Julie
	 		 	
		 	 Name: David B. Julie
 Title: Associate
Director
	 		 	

							
	THE PRIORITY AGENT	 	
		
	 GOLDMAN SACHS CREDIT PARTNERS L.P. (FOR AND ON BEHALF OF THE
 PRIORITY LENDERS)
	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/
	 		 	
		 	 Name:
 Title:
	 		 	
	
	 THE SECOND LIEN AGENT (FOR AND ON BEHALF OF THE SECOND LIEN LENDERS)
 UBS AG, STAMFORD BRANCH

			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/ Mary E. Evans
	 		 	
		 	 Name: Mary E. Evans
 Title: Associate
Director
	 		 	
				
	By:	 	 /s/ David B. Julie
	 		 	
		 	 Name: David B. Julie
 Title: Director
	 		 	
		
	 THE SECURITY AGENT
  
 GOLDMAN SACHS CREDIT PARTNERS L.P.
	 	
			
	Signed and executed as a Deed:	 		 	
				
	By:	 	 /s/
	 		 	
		 	 Name:
 Title:Amendment No. 1 to Senior Subordinated Note Purchase Agreement

 Exhibit 10.5 
 AMENDMENT NO. 1 TO NOTE PURCHASE AGREEMENT 
 This AMENDMENT NO. 1 TO NOTE PURCHASE AGREEMENT
(this “Amendment”) is dated as of April 15, 2008 by and among INTERNATIONAL TEXTILE GROUP, INC., a Delaware corporation (the “Company”), and the Purchasers signatory hereto. Unless otherwise specified herein,
capitalized terms used in this Amendment shall have the meanings ascribed to them in the Note Purchase Agreement (as hereinafter defined). 
 R E C I T A L S: 
 WHEREAS, the Company and the Purchasers entered into that certain Note Purchase Agreement dated as of
June 6, 2007 (as amended, supplemented, restated or otherwise modified from time to time, the “Note Purchase Agreement”); 
 WHEREAS, the Company and certain of its Subsidiaries intend to consummate a corporate reorganization, the timing and details of which are more particularly described in the ASCI Reorganization Step Plan (as defined in the Note Purchase
Agreement (as amended hereby)); 
 WHEREAS, in connection with the ASCI Reorganization (as defined in the Note Purchase Agreement (as amended
hereby)), the Company has requested and the Purchasers party hereto have agreed to certain waivers and amendments to the Note Purchase Agreement as set forth herein; 
 NOW, THEREFORE, in consideration of the premises contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 1 Amendment to Section 8.1(c). Section 8.1(c) of the Note Purchase Agreement is hereby amended by adding to
the end thereof the following: 
 “For purposes of the financial reporting contemplated pursuant to Sections 8.1(a)(iii),
8.1(b)(iii), and 8.1(c)(iii), the ASCI Reorganization shall be deemed to have been consummated on January 1, 2008. 
 2 Amendment
to Section 10.7. Section 10.7 of the Note Purchase Agreement is hereby amended and restated to read in its entirety as follows: 
  

	 	“10.7	Corporate Separateness. 

 The
Company will, and will cause each of its Subsidiaries to, comply with Section 4.15 of the Senior Credit Agreement and Clause 27.34 of the BST Credit Agreement, each as in effect on the date of the First Amendment after giving effect to the BST
Amendment and the ITG Senior Amendment (regardless of any further amendment, modification, refinancing or termination of either of the Senior Credit Agreement or the BST Credit Agreement), except as the Required Holders shall otherwise consent to in
writing. For purposes of this Agreement, and notwithstanding anything in the Senior Credit Agreement or the BST Credit 

 
Agreement to the contrary, (a) clause (iv) of the final proviso of Section 4.15 of the Senior Credit Agreement and clause (v) of the
final proviso of Section 27.34 of the BST Credit Agreement shall be disregarded, (b) each reference to ‘Permitted Reorganization Transaction’ or ‘Permitted Reorganization Transactions’ in Section 4.15 of the Senior
Credit Agreement or Section 27.34 of the BST Credit Agreement shall be deemed to be a reference to the ASCI Reorganization and (c) clause (iii) of the final proviso of Section 4.15 of the Senior Credit Agreement and clause
(iii) of the final proviso of Section 27.34 of the BST Credit Agreement shall each be disregarded.” 
 3 Amendment to
Section 11.1. Section 11.1 of the Note Purchase Agreement is hereby amended and restated to read in its entirety as follows: 
  

	 	“11.1	Transactions with Affiliates. 

 Except for the transactions described on Schedule 6.19, the Company will not, and will not permit any Subsidiary to, enter into directly or indirectly any transaction or group of related transactions (including, without limitation, the
purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than (i) any transaction between any members of the ITG Group, (ii) any transaction between members of the BST Group,
(iii) any transaction between any member of the ITG Group and any member of the BST Group to the extent such transaction is permitted by a specific exception to Section 4.15 of the Senior Credit Agreement or Clause 27.34 of the BST Credit
Agreement, in each case defined and modified in the same manner set forth in Section 10.7, (iv) any transaction constituting part of the ASCI Reorganization and (v) any Asset Disposition or Investment between a member of the ITG Group
and any Project Subsidiary to the extent permitted by Sections 11.6 and 11.7, respectively), except in the Ordinary Course of Business pursuant to the reasonable requirements of the Company’s or such Subsidiary’s business and upon fair and
reasonable terms no less favorable to the Company or such Subsidiary than would be obtainable in a comparable arm’s-length transaction with a Person not an Affiliate.” 
 4 Amendment to Section 11.2. Section 11.2 of the Note Purchase Agreement is hereby amended and restated to read in its
entirety as follows: 
  

	 	“11.2	Merger, Consolidation, etc. 

  

	 	(a)	 The Company shall not, and shall not permit any of its Subsidiaries to, merge, consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether
in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except (a) any Subsidiary of the Company may merge with, or dissolve or liquidate
into, the Company or another Subsidiary of the Company; provided, that, if the Company is a constituent entity in such merger, dissolution or liquidation, the Company 

  

 2 

	 	 
shall be the continuing or surviving entity; (b) any merger or consolidation that constitutes a Permitted Acquisition; (c) any such merger,
consolidation, conveyance, transfer, lease or other disposition constituting part of the ASCI Reorganization; and (d) any Subsidiary of the Company may be converted (including by way of merger) from a corporation to a limited liability company
or from a limited liability company to a corporation. 

  

	 	(b)	Notwithstanding clause (a) above, the Company shall not permit BST or any of its Subsidiaries to, merge, consolidate with or into, or convey, transfer, lease or otherwise
dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except (a) any Subsidiary of BST may merge with, or dissolve
or liquidate into, BST or another Subsidiary of BST; provided, that, if BST is a constituent entity in such merger, dissolution or liquidation, BST shall be the continuing or surviving entity; (b) any merger or consolidation that constitutes a
BST Permitted Acquisition; (c) any such merger, consolidation, conveyance, transfer, lease or other disposition constituting part of the ASCI Reorganization; and (d) any Subsidiary of BST may be converted (including by way of merger) from
a corporation to a limited liability company or from a limited liability company to a corporation.” 

 5 Amendment
to Section 11.4. Section 11.4 of the Note Purchase Agreement is hereby amended by deleting the last paragraph thereof and replacing such paragraph in its entirety as follows: 
 “In addition to the foregoing, the Company will not permit any member of the BST Group to, directly or indirectly, create, incur, assume, guarantee,
or otherwise become directly or indirectly liable with respect to, any Indebtedness to, or Contingent Obligations arising from guarantees of obligations of, the Company, any Subsidiary of the Company or any Affiliate of the Company that is not a
Member of the BST Group.” 
 6 Amendment to Section 11.6. Section 11.6 of the Note Purchase Agreement is
hereby amended and restated to read in its entirety as follows: 
  

	 	“11.6	Asset Sales. 

 The Company will not, and will not
permit any Subsidiary to, make any Asset Disposition, except (i) the Asset Dispositions described on Schedule 11.6 hereof, (ii) additional Asset Dispositions of the Company and its Subsidiaries (other than BST and its Subsidiaries) in an
aggregate amount (excluding the amount of any Asset Dispositions described on Schedule 11.6) based on Fair Market Value not to exceed: (a) with respect to the period from the Closing Date through December 31, 2007, $6,420,000, or
(b) during any fiscal year thereafter, $11,000,000, and with respect to which, subject to the mandatory prepayment provisions set forth in Section 9.3, the Company or such Subsidiary intends to apply the Net Proceeds Amount arising from
any such Transfer under clauses (a) or (b) hereof to a Debt Prepayment Application 

  

 3 

 
or to reinvestments in the Company or such Subsidiary (in the form of capital expenditures or otherwise) within 365 days after such Transfer, and the Company
or such Subsidiary applies such Net Proceeds Amount within such period, (iii) Asset Dispositions constituting part of the ASCI Reorganization, and (iv) Asset Dispositions of BST and its Subsidiaries in an aggregate amount based on Fair
Market Value not to exceed €4,000,000 per fiscal year of BST. 
 Notwithstanding the foregoing, the Company will not, and will not
permit any Subsidiary to, make any Asset Disposition to any Project Subsidiary (other than any Asset Disposition consisting of an equity Investment in, or loan constituting WLR Subordinated Indebtedness to, any such Project Subsidiary, by
(i) WLR or any WLR Affiliate or (ii) the Company with the proceeds of an equity Investment in, or loan constituting WLR Subordinated Indebtedness to, the Company by WLR or any WLR Affiliate) if, on the date of such proposed Transfer, a
default then exists in respect of any Indebtedness owing by such Project Subsidiary. 
 Notwithstanding anything to the contrary herein, the
Company will not make any Asset Disposition or Transfer of any Pledged Collateral (as defined in the Pledge Agreement).” 
 7
Amendment to Section 11.7. Section 11.7 of the Note Purchase Agreement is hereby amended by deleting the word “and” at the end of clause (m), deleting the “.” at the end of clause (n) and
replacing it with “; and” and the adding the following clause (o) as the last clause thereof: 
 “(o)
Investments constituting part of the ASCI Reorganization.” 
 8 Amendment to Section 11.8. Section 11.8
of the Note Purchase Agreement is hereby amended by deleting the word “and” at the end of clause (c), deleting the “.” at the end of clause (d) and replacing it with “; and” and the adding the following clause
(e) as the last clause thereof: 
 “(e) BST and its Subsidiaries may declare and make dividends or other
distributions payable solely in Stock or Stock Equivalents to the Company in connection with consummation of the ASCI Reorganization.” 
 9 Amendment to Section 12. 
 (a) Section 12(k) of the Note Purchase Agreement is hereby amended and
restated to read in its entirety as follows: 
  

	 	“(k)	As of the last day of any fiscal quarter ending on or after December 31, 2008, (i) the Leverage Ratio is greater than 5.00:1.00 and (ii) BST EBITDA for the
four fiscal quarter period ending on the respective dates set forth below is less than the amount set forth opposite such date: 

  

				
	 Fiscal Quarter Ending:
	  	Minimum BST EBITDA
	 December 31, 2008
	  	$	41,000,000

  

 4 

				
	 March 31, 2009
	  	$	43,000,000
		
	 June 30, 2009
	  	$	46,000,000
		
	 September 30, 2009
	  	$	50,000,000
		
	 December 31, 2009 and the last day of each fiscal quarter thereafter
	  	$	52,500,000

 (b) Section 12 of the Note Purchase Agreement is hereby amended by
adding the following clause (l) as the last clause thereof: 
  

	 	“(l)	As of the last day of any fiscal quarter, the BST Debt Cover is greater than the ratio set forth below during the corresponding periods set forth below:

  

			
	 Period:
	  	Ratio
	 From the Closing Date to and including December 31, 2008
	  	4.45:1.00
		
	 From January 1, 2009 to and including March 31, 2009
	  	3.60:1.00
		
	 From April 1, 2009 to and including June 30, 2009
	  	3.30:1.00
		
	 From July 1, 2009 to and including September 30, 2009
	  	3.25:1.00
		
	 On and after October 1, 2009
	  	3.00:1.00

 10 Amendment to Schedule B. 
 (a) Schedule B of the Note Purchase Agreement is hereby amended by adding the following defined terms to Schedule B in the proper
alphabetical order: 
 “ASCI Reorganization” means the series of transactions effected by ITG among
itself and certain of its Subsidiaries and BST and its subsidiaries as described in the ASCI Reorganization Step Plan. 
 “ASCI Reorganization Step Plan” means the step plan dated April 11, 2008 entitled “ITG Legal Entity Realignment” prepared by Ernst & Young and attached to the First Amendment as Exhibit A, as
such step plan may be modified from time to time so long as in the case of any such modification that is materially adverse to the holders of the Notes or that would result in any transaction, event or occurrence prohibited under this Agreement to
become permitted hereunder, the Required Holders have approved such modification. 
  

 5 

 “BST Amendment” means the BST Amendment and Restatement Agreement
dated as of April [    ], 2008 by and among BST, the various Subsidiaries of BST party thereto, and the various agents named therein. 
 “BST Amendment Transaction Costs” means all fees, costs and expenses (including any legal, tax and accounting
fees) incurred (or required to be paid) by BST or any other member of the BST Group in connection with the BST Amendment. 
 “BST Convertible Note” means the Convertible Subordinated Promissory made by BST in favor of the Company to be issued by BST in connection with the ASCI Reorganization pursuant to Step 9 of the ASCI Reorganization
Step Plan. 
 “BST Intercompany Obligations” means the obligations owing by Automotive Safety
Components International, Inc., a Delaware corporation, or any of its Subsidiaries, to any member of the ITG Group and referred to in Schedule 1 to the First Amendment, including, without limitation, all accrued and upaid non-cash interest in
respect of any such obligations. 
 “BST Redeemable Preferred Shares” means the redeemable membership
units of BST issued to the Company upon conversion of the Narricot Note in connection with the ASCI Reorganization pursuant to Step 8 of the ASCI Reorganization Step Plan, the obligations of which were subsequently assumed by BST, the terms of which
are described on Exhibit G to the First Amendment. 
 “BST Restructuring Costs” means all fees, costs
and expenses (including any prepayment penalties or premiums and any stamp, registration and other Taxes, but excluding BST Amendment Transaction Costs) incurred (or required to be paid) by BST or any member of the BST Group in connection with the
ASCI Reorganization up to a maximum amount of $5,170,000. 
 “First Amendment” means the Amendment
No. 1 to Note Purchase Agreement dated as of April [    ], 2008 by and among the Company and the various Purchasers party thereto. 
 “ITG Senior Amendment” means the Amendment No. 11 to Credit Agreement dated as of
April [    ], 2008 by and among the Company, the various Subsidiaries of the Company party thereto, General Electric Capital Corporation, as agent, and the lenders named therein. 
 “Narricot Note” means that certain promissory note dated November 3, 2007 in the face amount of $20,000,000
made by Narricot Industries, L.P. and payable to the order of the Company. 
 “Pro Forma BST EBITDA”
means, with respect to any Target, BST EBITDA for such Target for the most recent twelve (12) month period for which financial statements are available at the time of determination thereof. 
  

 6 

 (b) Schedule B of the Note Purchase Agreement is hereby amended by amending and
restating the definitions of “BST Debt Cover”, “BST EBITDA”, “EBITDA” and “Funded Debt” as follows: 
 “BST Debt Cover” means, on any date of determination, the ratio of (x) BST Financial Indebtedness (other than (i) BST Financial Indebtedness of the type described in clause
(f) of the definition thereof, (ii) BST Financial Indebtedness owing between members of the BST Group, (iii) the BST Convertible Note, (iv) the BST Redeemable Preferred Shares and (v) the BST Intercompany Obligations) after
deducting the aggregate amount of cash and cash equivalents held by any member of the BST Group as of such date of determination to (y) BST EBITDA for the four fiscal quarter period ending immediately prior to such date of determination.

 “BST EBITDA” means, for the applicable period of measurement, the aggregate of consolidated net
profits of the BST Group (excluding any income of any Joint Ventures) from ordinary activities, before (without duplication): (a) the profit (or losses) attributable to minority interests; (b) any amounts received or receivable or paid or
payable pursuant to any Treasury Transaction; (c) income from participating interests in associated undertakings; (d) any gain or loss over book value arising from an upward or downward revaluation of any asset (not being stock disposed of
in the normal course of trading), including purchase accounting adjustments, if any, resulting from the transactions contemplated pursuant to step 8 of the ASCI Reorganization Step Plan; (e) any other extraordinary and exceptional items of any
member of the BST Group (other than in connection with the ASCI Reorganization or BST Amendment) up to a maximum amount of €3,000,000 in any fiscal year, (f) any tax, levy, impost, duty or other charge or withholding of a similar nature
(including any penalty or interest payable in connection with any failure to pay or any delay in paying any of same); (g) all fees, costs and expenses (including any prepayment penalties or premiums and stamp, registration and other taxes)
incurred (or required to be paid) by any member of the BST Group in connection with the acquisition of BST Safety Textiles Holding GmbH up to a maximum amount of €5,000,000; (h) BST Finance Expense; (i) professional fees and any other
amounts charged in respect of discontinued operations or restructuring activities including the related termination of employees (other than in connection with the ASCI Reorganization or BST Amendment); (j) any expenses incurred in respect of
historical operating leases prior to December 8, 2006; (k) BST Restructuring Costs; (l) BST Amendment Transaction Costs; (m) non-cash interest in respect of the BST Convertible Note, the Narricot Note and the BST Intercompany
Obligations; and (n) any non-cash amounts attributable to depreciation, impairment, writedown or amortization of tangible or intangible assets (including goodwill). When calculating BST EBITDA for all purposes hereunder, BST EBITDA shall
include Pro Forma BST EBITDA for the most recently ending twelve month period prior to the date of determination of any Target acquired prior to the date of determination. 
 “EBITDA” means net income (or loss) for the applicable period of measurement of the Company and its Subsidiaries
on a consolidated basis determined in accordance with GAAP (including the income (or loss) of any Person accrued prior to the date it becomes a Subsidiary of the Company or is merged into or consolidated with the 

  

 7 

 
Company or any of its Subsidiaries or that Person’s assets are acquired by the Company or any of its Subsidiaries), but excluding: (a) the income
(or loss) of any Person which is not a Subsidiary of the Company, except to the extent of the amount of dividends or other distributions actually paid to the Company or any of its Subsidiaries in cash by such Person during such period and the
payment of dividends or similar distributions by that Person is not at the time prohibited by operation of the terms of its charter or of any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that
Person; (b) the proceeds of any life insurance policy; (c) non-cash gains or losses from the sale, exchange, transfer or other disposition of property or assets not in the ordinary course of business of the Company and its Subsidiaries,
and related tax effects in accordance with GAAP; and (d) any other extraordinary or non-recurring gains or losses of the Company or its Subsidiaries, and related tax effects in accordance with GAAP (other than in connection with the ASCI
Reorganization or BST Amendment), PLUS (a) all amounts deducted in calculating net income (or loss) for depreciation or amortization for such period; (b) interest expense (less interest income) deducted in calculating net income (or
loss) for such period; (c) all accrued taxes on or measured by income to the extent deducted in calculating net income (or loss) for such period; (d) all non-cash last-in, first-out expenses for such period; (e) professional fees and
any other amounts charged in respect of discontinued operations or restructuring activities including the related termination of employees (other than in connection with the ASCI Reorganization or BST Amendment); (f) all amounts deducted in
calculating net income (or loss) for BST Restructuring Costs; (g) all amounts deducted in calculating net income (or loss) for BST Amendment Transaction Costs; and (h) without duplication, all non-cash losses or expenses (or minus non-cash
income or gain) included or deducted in calculating net income (or loss) for such period, including non-cash restructuring charges, and non-cash purchase accounting adjustments, but excluding any non-cash loss or expense that is an accrual of a
reserve for a cash expenditure or payment to be made, or anticipated to be made, in a future period. When calculating the Leverage Ratio for purposes of Section 11.3(a)(xiii) only, EBITDA shall include Pro Forma EBITDA for the most recently
ending twelve month period prior to the date of determination of any Target acquired prior to the date of determination. 
 “Funded Debt” means, with respect to any Person, without duplication, all Indebtedness for borrowed money evidenced by notes, bonds, debentures, or similar evidences of Indebtedness (but excluding any WLR
Subordinated Indebtedness), and all Indebtedness in respect of Capital Leases. 
 11 Representations and Warranties. In order
to induce Purchasers to enter into this Amendment, the Company represents and warrants to each Purchaser, that: 
 (a) the
execution, delivery and performance by the Company of this Amendment has been duly authorized by all necessary corporate action and this Amendment and the Note Purchase Agreement as amended hereby constitute legal, valid and binding obligations of
the Company enforceable against the Company in accordance with their terms; 
  

 8 

 (b) both before and after giving effect to the ASCI Reorganization, each of the Company
and BST is and shall be Solvent; 
 (c) upon the effectiveness of this Amendment and after giving effect hereto, no Default or
Event of Default exists under the Note Purchase Agreement; 
 (d) upon the effectiveness of this Amendment and after giving
effect hereto, all representations and warranties are true and correct in all material respects as of the effective date of this Amendment, except for (i) any such representations and warranties which expressly relate to an earlier date and
(ii) changes in circumstances which are otherwise expressly permitted pursuant to the terms of the Note Purchase Agreement (as amended hereby). 
 12 Conditions to Effectiveness. This Amendment shall be effective on the date when each of the following conditions have been met: 
 (a) this Amendment shall have been duly executed and delivered by the Company and the Required Holders; 
 (b) the Company shall have delivered to the Purchasers a fully executed copy of an Amended and Restated Pledge Agreement substantially in
the form attached hereto as Exhibit B-1 (the “Amended and Restated Pledge Agreement”) and, in accordance therewith, the fully executed BST Convertible Note in the form attached hereto as Exhibit B-2, duly endorsed in blank, and such
other deliveries as may be required thereby; 
 (c) receipt by the Purchasers of a fully executed copy of an Amended and
Restated Subordination and Intercreditor Agreement in substantially the form attached hereto as Exhibit C; 
 (d) receipt by
the Purchasers of opinions in substantially the form attached hereto as Exhibit D from Jones Day, special counsel of the Company; 
 (e) receipt by the Purchasers of (i) a solvency certificate in substantially the form attached hereto as Exhibit E, duly executed and delivered by the Company and (ii) a solvency certificate in substantially the form attached
hereto as Exhibit F, duly executed and delivered by BST; 
 (f) receipt by the Purchasers of a fully executed copy of the ITG
Senior Amendment, certified as true, correct and complete by a Responsible Officer; 
 (g) receipt by the Purchasers of a
fully executed copy of the BST Amendment, certified as true, correct and complete by a Responsible Officer; 
 (h) receipt by
the Purchasers of evidence satisfactory to the Purchasers in their reasonable discretion that the obligations of Narricot Industries, L.P. (“Narricot”) under the promissory note dated November 3, 2007 in the face amount of
$20,000,000 made by Narricot and payable to the order of the Company have been assumed by BST, and that substantially contemporaneous with such assumption, such promissory note has been 

  

 9 

 
converted into redeemable membership units of BST, the terms of such redeemable membership units to be substantially as described on Exhibit G attached
hereto, and pledged pursuant to the Amended and Restated Pledge Agreement; 
 (i) receipt by the Purchasers of such other
instruments and documents as they may reasonably request; and 
 (j) payment by the Company of all reasonable, out-of-pocket
expenses of the Purchasers due and payable on or prior to the date hereof. 
 13 Completion of the ASCI Restructuring.
Notwithstanding anything to the contrary herein, this Amendment shall become void and shall cease to be of any force and effect (and all rights and remedies of the Purchasers shall be reinstated as if such Amendment had never been executed) if the
ASCI Reorganization (other than in respect of the completion of necessary registrations required to be made in Germany, the working capital adjustments contemplated under that certain Exchange Agreement dated as of April 15, 2008 between the
Company and BST, certain name change filings and certain other administrative and ministerial actions) is not completed by April 15, 2008. 
 14 Miscellaneous. 
  

	 	14.1	Effect; Ratification. 

 (a)
Except as specifically set forth above, the Note Purchase Agreement and the other Financing Documents shall remain in full force and effect and are hereby ratified and confirmed. 
 (b) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the
Purchasers under the Note Purchase Agreement or any other Financing Document, nor constitute an amendment of any provision of the Note Purchase Agreement or any other Financing Document, except as specifically set forth herein. Upon the
effectiveness of this Amendment, each reference in the Note Purchase Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Note Purchase
Agreement as amended hereby. 
 (c) The Company acknowledges and agrees that the amendments set forth herein are effective
solely for the purposes set forth herein and that the execution and delivery by the Purchasers of this Amendment shall not be deemed (i) except as expressly provided in this Amendment, to be a consent to any amendment, waiver or modification of
any term or condition of the Note Purchase Agreement or of any other Financing Document, (ii) to create a course of dealing or otherwise obligate any Purchaser to forbear, waive, consent or execute similar amendments under the same or similar
circumstances in the future, or (iii) to amend, prejudice, relinquish or impair any right of the Purchasers to receive any indemnity or similar payment from any Person or entity as a result of any matter arising from or relating to this
Amendment. 
  

 10 

 14.2 Counterparts and Signatures by Fax. This Amendment may be executed in
any number of counterparts, each such counterpart constituting an original but all together one and the same instrument. Any party delivering an executed counterpart of this Amendment by fax shall also deliver an original executed counterpart, but
the failure to do so shall not affect the validity, enforceability or binding effect of this Amendment. 
 14.3
Severability. In case any provision in or obligation under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such
provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 
 14.4
Financing Document. This Amendment shall constitute a Financing Document. 
 14.5 GOVERNING LAW.
THIS AMENDMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS THEREOF, BUT OTHERWISE WITHOUT
REFERENCE TO THE CHOICE-OF-LAW PRINCIPLES OF THE LAW THEREOF. 
 [Signature Pages Follows] 
  

 11 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

  

							
	COMPANY:
	
	INTERNATIONAL TEXTILE GROUP, INC.
		
	By:	 	 /s/ Neil W. Koonce

	Name:	 	Neil W. Koonce
	Title:	 	Vice President and General Counsel
	
	PURCHASERS:
	
	 CANYON VALUE REALIZATION FUND, L.P.,
 a
Delaware limited partnership

			
		 	By:	 	Canpartners Investments III, L.P.,
		 		 	a California limited partnership
				
		 		 	By:	 	Canyon Capital Advisors LLC,
		 		 		 	a Delaware limited liability company
				
		 		 	By:	 	 /s/

		 		 	Name:	 	
		 		 	Title:	 	
	
	CCP F, L.P.
			
		 	By:	 	Clearlake Capital Partners, LLC,
		 		 	its general partner
				
		 		 	By:	 	CCG Operations, LLC,
		 		 		 	its managing member
				
		 		 	By:	 	 /s/

		 		 	Name:	 	
		 		 	Title:	 	Manager
	
	RESERVOIR CAPITAL PARTNERS, L.P.
		
	By:	 	RCP GP, LLC, its general partner
		
	By:	 	 /s/

	Name:	 	
	Title:	 	

			
	RESERVOIR CAPITAL INVESTMENT PARTNERS, L.P.
		
	By:	 	RCIP GP, LLC, its general partner
		
	By:	 	 /s/

	Name:	 	
	Title:	 	
	
	RESERVOIR CAPITAL MASTER FUND II, L.P.
		
	By:	 	Reservoir Capital Group, L.L.C., its general partner
		
	By:	 	 /s/

	Name:	 	
	Title:

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