Document:

LINE OF CREDIT AGREEMENT

This Line of Credit Agreement (this “Agreement”) is
made and entered into effective as of March 12, 2009 (the “Effective Date”) by
and among HC Innovations, Inc., a Delaware corporation (the “Borrower”) and The
Kenneth D. Lamé Living Trust, Welwyn Management Company and Brahma Finance
(BVI) Limited (collectively, the “Lenders”). 

1. Commitments to Lend.

          During
the Commitment Period each Lender severally agrees, on the terms and conditions
set forth in the Agreement, to make Advances to the Borrower from time to time
in amounts such that the aggregate principal amount of Advances by such Lender
at any one time outstanding does not exceed the amount of its Commitment. Each
Advance under this Agreement shall be made ratably from the several Lenders in
proportion to their Commitments. The Borrower may, on the terms and conditions
set forth in the Agreement, borrow, repay and reborrow at any time during the
Commitment Period. 

2. Borrowing Procedures.

          The
Borrower shall give the Lenders notice not later than 10:00 AM on the date of
each Advance specifying the date of such Advance, which shall be a Business
Day, and the aggregate amount of such Advance. Each requested Advance shall be
made available to the Borrower by drawing on the Lenders’ deposit account
maintained at a bank or other financial institution to be designated by the
Lenders. Each Advance shall be made pursuant to procedures and timing agreed to
between the Borrower and such bank, and shall be subject to dual signature
control as follows:

One Signature from the Borrower: Robert Scott Walker,
CFO or Tina Bartelmay, President & COO; and 

One signature from specified directors of the
Borrower: Kenneth Lamé, Chairman of the Board or Orlo Dietrich, Director.

          The
Borrower shall not request any Advance if an Event of Default shall have
occurred and be continuing, or if an event has occurred, which with the giving
of notice or the lapse of time, or both, would constitute an Event of Default.

3. Purpose.

          The
purpose and sole use of the Line of Credit shall be to satisfy the Borrower’s
bi-weekly payroll. Proceeds from Advances will only be deposited into the
Borrower’s primary payroll account and will not be used for any other purpose.

4. Cleandown and Maturity.

          (a)
Advances must be repaid from time to time such that the Line of Credit must be
fully repaid with no amount outstanding for 8 consecutive Business Days in any
23 consecutive Business Day period. 

          (b)
All Advances must be repaid in full on or before the Maturity Date. The
aggregate unpaid principal amount of all Advances shall not at any time exceed
the Maximum Amount. The Borrower shall make an immediate prepayment in the
event that the aggregate unpaid principal amount of all Advances shall at any
time exceed the Maximum Amount.

5. Interest and Fees.

          The
Borrower shall pay to each Lender:

          (a)
as commitment fees, an amount equal to five-twelfths of one percent (5/12%) per
calendar month or part thereof of the amount of such Lender’s Commitment, minus
such Lender’s pro rata share of any amounts earned on any amounts on deposit in
the account referred to in Section 2 above; provided that such commitment fee
shall not thereby be reduced to less than zero;

          (b)
as interest, an amount equal to five-twelfths of one percent (5/12%) per
calendar month of the principal amount of Advances outstanding from time to
time, based on the actual number of days during which such Advances were
outstanding; and

          (c)
as additional interest, an amount equal to two-twelfths of one percent (2/12%)
per calendar month of the principal amount of Advances outstanding, for such
number of days as the provisions of Section 4(a) are not satisfied. 

          All
amounts of commitment fees, interest and additional interest shall be paid in
full on a monthly basis, in arrears, no later than the earlier of (i) the fifth
Business Day following the end of the month during which such amounts accrued
and (ii) the Maturity Date. Any overdue principal, interest or other amounts
payable hereunder shall bear interest, payable on demand, equal to an
additional five percent (5%) of the amount payable. Whenever any payment to be
made hereunder shall be due on a day that is not a Business Day, such payment
shall be made on the next succeeding Business Day and such extension of time
shall in each case be included in the computation of the interest and other
amounts payable hereunder.

6. Notes.

          Prior
to any Advances being made, the Borrower shall execute and deliver to each of
the Lenders a Note for the principal amount of such Advances. Each Note shall
serve as a master note to evidence all Advances made to such Lender. Lender
shall record (a) the principal amount of each Advance and the interest rate
applicable thereto, and (b) the amount of any principal, interest or other
payment and the applicable dates with respect thereto, by such method as such
Lender may generally employ; provided that failure to make any such entry shall
in no

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way detract from Borrower’s obligations hereunder or
under the Notes. The aforesaid information with respect to the Advances set
forth on the records of each Lender shall be rebuttably presumptive evidence of
the principal, interest and other amounts owing and unpaid on such Note.

7. Guaranties and Security.

          This
Agreement and each Note are entitled to the ratable and pari passu benefit of
that certain Guarantee and Amended and Restated Security Agreement referred to
in the Senior Notes Agreement granted by the Borrower and the Subsidiary
Guarantors (as defined therein) in favor of the Noteholders identified therein,
pursuant to which the Borrower and such Subsidiary Guarantors have guarantied
the Borrower’s obligations thereunder and pursuant to which the Noteholders
identified therein have been granted a security interest in certain collateral.
This Agreement and the Notes shall be subject to the terms and conditions set
forth in such Guarantee and Amended and Restated Security Agreement.

8. Conversion Right.

          If
any amounts remain outstanding under this Agreement or the Notes on or after
the Maturity Date, each Lender shall have the option to convert such
outstanding amounts into shares of the Borrower’s common stock, par value
$0.001, upon the same terms and subject to the same conditions applicable to
“Amended Notes” as set forth in the Senior Notes Agreement.

9. Events of Default; Remedies.

          Upon
the occurrence of an Event of Default and at all times thereafter, at the
option of any Lender (but automatically with respect to any Event of Default
resulting from the insolvency or bankruptcy of Borrower), all Obligations shall
become immediately due and payable, any Lender may terminate the Line of Credit
and no further Advances may be requested by the Borrower. In addition, each
Lender may apply or setoff any amounts owed by it to the Borrower against all
Obligations, all without any notice to or demand upon the Borrower, in addition
to any other rights and remedies such Lender may have pursuant to law or
equity, this Agreement, any Note and any other instruments or agreements, which
rights and remedies shall be cumulative.

10. Costs and Expenses; Indemnification.

          (a)
The Borrower agrees to pay on demand all reasonable costs and expenses of each
Lender, including, but not limited to, reasonable attorneys’ fees and expenses,
in connection with the preparation, negotiation and closing of this Agreement
and the Notes, and the collection of the Obligations.

          (b)
The Borrower agrees to defend, indemnify and hold harmless each Lender from and
against any and all liabilities, damages, penalties, actions, judgments, suits,
costs or expenses (including reasonable attorneys’ fees) that may be imposed
on, incurred by or asserted against such Lender in connection with any
investigative, administrative or judicial proceeding (whether 

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or not such Lender shall be designated a party
thereto) or any other claim by any Person relating to or arising out of this
Agreement or any Note, the Borrower or any Advance; provided that no Lender
shall not have the right to be indemnified under this paragraph as a result of
such Lender’s own gross negligence or willful misconduct.

11. Miscellaneous.

          This
Agreement shall bind the Borrower and the Borrower’s successors and assigns and
shall inure to the benefit of each Lender and such Lender’s successors and
assigns. The Borrower may not assign or otherwise transfer any of its rights
under this Agreement without the express written consent of each Lender. All
provisions hereof shall be subject to, governed by, and construed in accordance
with New York law, without regard to principles of conflicts of laws.
Unenforceability of any provision hereof or any application of any provision
hereof shall not affect the enforceability of any other provision or
application of any other provision. This Agreement constitutes a final written
expression of all of the terms of this instrument, is a complete and exclusive
statement of those terms and supersedes all oral representations, negotiations
and prior writings, if any, with respect to the subject matter hereof. The
relationship between the Borrower and the Lenders with respect to this
Agreement is and shall be solely that of debtor and creditor, respectively, and
no Lender shall have any fiduciary obligation toward the Borrower with respect
to this Agreement or the transactions contemplated hereby. Any amendment or
waiver hereof or any waiver of any right or remedy otherwise available must be
in writing and signed by the party against whom enforcement of the amendment or
waiver is sought. This Agreement may be executed by facsimile signature, and
when so executed, the facsimile copy shall be effective as an original.

12. Defined Terms.

          For
the purposes of this Agreement, the following terms shall have the following
meanings:

          “Advance”
means any loan made by any Lender to the Borrower pursuant to the Line of
Credit.

          “Business
Day” means any day that is not a Saturday, Sunday or other day on which
national banks are authorized or required to close in New York City.

          “Commitment”
means, for each of the Lenders, $170,000, for an aggregate commitment for all
Lenders equal to the Maximum Amount.

          “Commitment
Period” means the period commencing on the date hereof and ending on the
Maturity Date.

          “Dollar”
or the sign $ means lawful money of the United States of America.

          “Event
of Default” means the occurrence of any of the following events: (a)
the failure of the Borrower to pay any principal, interest or other amoutn
hereunder or perform any Obligation

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when it becomes due and payable; (b) any condition or
event that any Lender determines has or is reasonably likely to have a material
adverse effect on the business, prospects, operations or financial condition of
the Borrower or on the rights and remedies of such Lender under this Agreement
of its Note, or the ability of the Borrower to perform its obligations
hereunder or under any other document executed in connection herewith; (c)
breach by the Borrower of any provision, agreement, representation, warranty or
covenant set forth in this Agreement, in any other instrument, document or
agreement evidencing or relating to any Obligation, or in any mortgage deed,
assignment, pledge or security agreement given as or evidencing security for
any Obligation of the Borrower; (d) if a default, event of default, or an event
with which the passage of time or giving of notice or both would constitute a
default, shall occur under any document evidencing or executed in connection
with any obligation of the Borrower for borrowed money; (e) dissolution,
termination of existence, insolvency, business failure or appointment of a
receiver of the Borrower or any part of the property of the Borrower;
(f) assignment for the benefit of creditors by the Borrower;
(g) failure or inability of the Borrower to pay its debts as they come
due; (h) the commencement of any proceedings under any bankruptcy or
insolvency laws by or against the Borrower; or (i) any judgment, attachment,
execution, or similar process is rendered, issued, or levied against the
Borrower or any material amount of the property of the Borrower, and is not
fully satisfied, released, vacated, or bonded within thirty (30) days after its
rendering, issue or levy.

          “Line
of Credit” means the line of credit established by the Lenders for the Borrower
pursuant to which the Borrower may request Advances up to the Maximum Amount,
as such Line of Credit may be from time to time modified, replaced or renewed.

          “Maturity
Date” means May 31, 2009.

          “Maximum
Amount” means five hundred ten thousand Dollars ($510,000).

          “Note”
means a Promissory Note in the form attached hereto.

          “Obligation”
means any present or future obligation, indebtedness or liability of the
Borrower owed to any Lender, of whatever kind and however evidenced, together
with all extensions, renewals, amendments, restatements and substitutions thereof
or therefor (including, without limitation, each payment of principal or
interest on each Advance or any fee or other amount payable under this
Agreement or pursuant to any Note.

          “Person”
means an individual, sole proprietorship, partnership, joint venture,
unincorporated organization, corporation, limited liability company, unlimited
liability company, institution, trust, estate, government or other political
subdivision thereof or any other entity.

          “Senior
Notes Agreement” means that certain Securities Amendment and Purchase Agreement
dated as of December 23, 2008 by and among the Borrower and the Noteholders
identified therein.

[Remainder of this
page intentionally left blank.]

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          JURY
TRIAL WAIVER. THE BORROWER AND EACH LENDER WAIVE ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
OTHERWISE BETWEEN THE BORROWER AND SUCH LENDER ARISING OUT OF, IN CONNECTION
WITH, RELATING TO OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THEM IN
CONNECTION WITH THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT
EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED
THERETO.

          Executed
as of the date set forth above.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
BORROWER:

	
 

	
 

	
 

	
 

	
 

	
Address:

	
 

	
HC INNOVATIONS, INC.

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
LENDERS:

	
 

	
THE KENNETH D. LAMĒ LIVING TRUST

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
WELWYN MANAGEMENT COMPANY

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
BRAHMA FINANCE (BVI) LIMITED

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
 

	
 

	
 

	

Signature Page to

Line of Credit Agreement

PROMISSORY NOTE

	
 

	
 

	
$______________

	
March __, 2009

	
 

	
New York, New York

          FOR
VALUE RECEIVED, the undersigned, HC Innovations, Inc., a Delaware corporation
(the “Borrower”) promises to pay to the order of ______ (the “Lender”) at its
address at ______, or at such other place as Lender shall designate, the
principal sum of ______________________ DOLLARS ($____________), or the
aggregate unpaid principal amount of all Advances made by the Lender to the
Borrower pursuant to the Line of Credit Agreement referred to below, whichever
is less, in lawful money of the United States of America, on the Maturity Date.
The Borrower promises to pay interest and other amounts on the unpaid principal
amount of each such Advance on the dates and at the rate or rates provided for
in the Line of Credit Agreement.

          The
Lender shall record (a) the principal amount of each Advance and the interest
rate applicable thereto, and (b) the amount of any principal, interest or other
payment and the applicable dates with respect thereto, by such method as such
Lender may generally employ; provided that failure to make any such entry shall
in no way detract from Borrower’s obligations hereunder of under this Note.

          This
Promissory Note is one of the Notes referred to in the Line of Credit Agreement
dated as of March __, 2009 among the Borrower and the Lenders listed on the
signature pages thereof (as the same may be amended from time to time, the
“Line of Credit Agreement”). Terms defined in the Line of Credit Agreement are
used herein with the same meanings. Reference is made to the Line of Credit
Agreement for provisions for the acceleration of the maturity hereof. 

          Borrower
waives presentment, demand, notice, protest and all other demands and notices
in connection with delivery, acceptance, performance, default or enforcement of
this Note.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
HC INNOVATIONS, INC.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
 

	
 

	
 

	

7ex10-11_1365205.htm

EXHIBIT 10.1.1

 

AMENDMENT NO. 2 dated as of June 1, 2009 (this “Amendment”), to the Credit Agreement dated as of November 15, 2007, among Barzel Industries Inc. (formerly known as Novamerican Steel Inc. and Symmetry Holdings Inc.), a Delaware corporation (“Parent”),
Barzel Finco Inc. (formerly known as Novamerican Steel Finco Inc.), a Delaware corporation (“US Borrower”), Barzel Industries Canada Inc. (formerly known as Novamerican Steel Canada Inc. and Novamerican Steel Inc.), a Canadian corporation (“Canadian Borrower”), the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, JPMorgan Chase Bank,
N.A., Toronto Branch, as Canadian Agent, and CIT Business Credit Canada Inc. and The CIT Group/Business Credit, Inc., as Syndication Agents (the “Credit Agreement”).

 

WHEREAS, Parent wishes to terminate the Revolving Commitments of each Lender other than JPMorgan Chase Bank, N.A. (“JPMCB”) and reduce the Revolving Commitment of JPMCB to US$20,000,000 and JPMCB is willing to continue its Revolving Commitment at such reduced level;

 

WHEREAS, CIBC Inc. (“CIBC”) wishes to become a Lender and JPMCB is willing to assign to CIBC one-third of its Revolving Commitment;

 

WHEREAS, in connection therewith the parties wish to amend the Credit Agreement as provided herein;

 

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

 

SECTION 1.  DEFINED TERMS. EACH CAPITALIZED TERM USED AND NOT DEFINED HEREIN, INCLUDING IN THE RECITALS HERETO, SHALL HAVE THE MEANING ASSIGNED TO IT IN THE CREDIT AGREEMENT.

 

SECTION 2.  AMENDMENTS. EFFECTIVE AS OF THE AMENDMENT EFFECTIVE DATE (AS DEFINED BELOW) THE REVOLVING COMMITMENT OF EACH LENDER OTHER THAN JPMCB SHALL BE REDUCED TO ZERO, THE REVOLVING COMMITMENT OF JPMCB SHALL BE REDUCED TO US$20,000,000 AND EACH LENDER OTHER THAN
JPMCB SHALL CEASE TO BE A LENDER UNDER THE CREDIT AGREEMENT AND EACH OF SUCH LENDERS’ RESPECTIVE OBLIGATIONS AND LIABILITIES UNDER THE CREDIT AGREEMENT SHALL TERMINATE. EFFECTIVE IMMEDIATELY AFTER SUCH REDUCTIONS THE FOLLOWING SECTIONS OF THE CREDIT AGREEMENT SHALL BE AMENDED AS SET FORTH BELOW:

 

(a)           Section 1.01 shall be amended by replacing the definition of “Aggregate Borrowing Base” with the following:

 

  

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“Aggregate Borrowing Base” means, at any time the sum at such time of the US Borrowing Base and the Canadian Borrowing Base (after the elimination of any duplication in Reserves).

 

and each reference in the Agreement to clause (b) of such definition shall be deleted.

 

(b)           Section 1.01 shall be amended by replacing the definition of “Applicable Rate” with the following:

 

“Applicable Rate” means, for any day, (a) with respect to any Loan or BA, (i) in the case of the ABR/Canadian Prime Spread, 4.00%, and (ii) in the case of the Eurocurrency Spread/BA Stamping Fee, 5.00% and (b) with respect to the commitment fees payable hereunder,
0.75% per annum.

 

(c)           Section 1.01 shall be amended by amending the definition of “Availability Block” to replace the reference therein to “US$15,000,000” with a reference to “US$7,500,000”.

 

(d)           Section 1.01 shall be amended by amending the definition of “Borrowing Base Certificate” to insert at the end thereof the following proviso: “; provided that the Administrative Agent may
in its discretion waive the updating of any component of any Borrowing Base Certificate that it believes cannot be timely updated without unreasonable cost or effort”.

 

(e)           Section 1.01 shall be amended by amending the definition of “Borrowing Minimum” to replace the reference therein to “US$5,000,000” with a reference to “US$1,000,000” and the reference therein to “Cdn.$5,000,000” with a reference
to “Cdn.$1,000,000”.

 

(f)           Section 1.01 shall be amended by inserting in the appropriate alphabetical location the following new definitions:

 

“Budgets” collectively means the Initial Budget and the 13-week Budgets.

 

“Initial Budget” means that certain weekly cash forecast prepared by the Borrowers in form, scope and detail satisfactory to the Lenders, which shall reflect the Borrowers’ good faith projection of all cash receipts and disbursements in connection with the
operation of their businesses for the period commencing the week of March 6, 2009, through the week of November 27, 2009, a certified copy of which was delivered to the Lenders on the Amendment Effective Date under Amendment No. 2 to this Agreement.

 

“13-week Budgets” collectively means the 13-week budgets prepared each week by the Borrowers in form, scope and detail satisfactory to the Lenders, each of which shall reflect the Borrowers’

 

  

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good faith projection of all cash receipts and disbursements in connection with the operation of their businesses for the next 13 week period commencing after the date such budget is delivered to the Lenders.

 

“Permitted Variances” has the meaning assigned to such term in Section 5.11(b).

 

(g)           Section 1.01 shall be amended by amending the definition of “Required Lenders” to insert at the end thereof the following proviso: “; provided that “Required Lenders” shall include
both JPMCB and CIBC Inc. at all times that both (a) JPMCB and its Affiliates alone would otherwise constitute the Required Lenders and (b) the Revolving Commitment held by CIBC Inc. and its Affiliates is not less than 10% of the aggregate Revolving Commitments.

 

(h)           Section 1.01 shall be amended by amending the definition of “Revolving Maturity Date” to replace the reference therein to “November 15, 2012” with a reference to “September 30, 2010”.

 

(i)           Section 2.01 shall be amended by (1) replacing clause (iv) thereof with the following: “(iv) the sum of the Revolving Exposures exceeding the excess of (A) the lesser of (1) the Aggregate Borrowing Base then in effect and (2) the aggregate Revolving Commitments then
in effect over (B) the Availability Block”, (2) deleting the word “or” after clause (iv) and (3) inserting at the end thereof the following new clause (vi): “or (vi) the aggregate principal amount of Loans and BAs requested by the Borrower to be drawn or accepted during any week causing the aggregate Borrowings and BA Drawings to exceed at any time the sum of (A) the projected aggregate Borrowings and BA Drawings balance for such week as reflected in the then-current 13-week Budget under
this Agreement, plus (B) the Permitted Variances for such week”.

 

(j)           Section 2.03 shall be amended by replacing clause (b) thereof with the following: “(b) in the case of an ABR Borrowing or a Canadian Prime Borrowing, not later than 11:00 a.m., Local Time, on the date of the proposed Borrowing”.

 

(k)           Section 2.04(a) shall be amended by (1) replacing the reference therein to “US$15,000,000” with a reference to “US$5,000,000” and (2) inserting at the end of the first sentence thereof the following proviso: “; and provided further that
no Protective Advance shall be made without the approval of CIBC Inc. at any time that CIBC Inc.’s approval is required to constitute the Required Lenders if as a result of such Protective Advance the Revolving Exposures would exceed the excess of (x) the lesser of (1) the Aggregate Borrowing Base then in effect and (2) the aggregate Revolving Commitments then in effect over (y) the Availability Block”.

 

(l)           Section 2.05 shall be amended by inserting at the end thereof the following new paragraph (d): “(d) Notwithstanding any other provision of this

 

  

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Agreement, no Borrower shall request, and the Swingline Lender shall not make to any Borrower, any Swingline Loan until this paragraph (d) shall have been amended to permit such request and advance in accordance with Section 9.02.”

 

(m)           Section 2.06(b) shall be amended by (1) replacing the reference in clause (i) thereof to “US$25,000,000” with a reference to “US$1,000,000” and (2) replacing clause (vi) thereof with the following: “(vi) the sum of the Revolving Exposures shall
not exceed the excess of (A) the lesser of (1) the Aggregate Borrowing Base then in effect and (2) the aggregate Revolving Commitments then in effect over (B) the Availability Block”.

 

(n)           Section 2.12(b) shall be amended by replacing clause (iii) thereof with the following: “the sum of the Revolving Exposures exceeds the sum of (x) the excess of (1) the lesser of (I) the Aggregate Borrowing Base then in effect and (II) the aggregate Revolving Commitments
then in effect over (2) the Availability Block and (y) the Protective Advance Exposure then outstanding,”.

 

(o)           Section 3.04(d) shall be amended by (1) replacing the reference therein to “November 25, 2006” with a reference to “February 28, 2009” and (2) inserting at the end thereof the following phrase: “, it being understood that for purposes of this
Section 3.04(d), the forecasts contained in the Initial Budget shall not constitute a material adverse change in the prospects of Parent, the Borrowers and the Subsidiaries, taken as a whole, nor shall results consistent with the Initial Budget constitute a material adverse change in the business, assets, operations or condition, financial or otherwise, of Parent, the Borrowers and the other Subsidiaries, taken as a whole”.

 

(p)           Section 4.02(c) shall be amended by replacing clause (ii) thereof with the following: “(iv) the sum of the Revolving Exposures shall not exceed the excess of (A) the lesser of (1) the Aggregate Borrowing Base then in effect and (2) the aggregate Revolving Commitments
then in effect over (B) the Availability Block”.

 

(q)           Section 4.02 shall be amended by inserting immediately after paragraph (c) thereof the following new paragraph (d):

 

(d)           After the Amendment Effective Date under Amendment No. 2 to this Agreement, at the time of and immediately after giving effect to such Borrowing or BA Drawing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, the Borrowers shall be
in compliance with clause (iii) of Section 5.01(f) and the Borrowers’ aggregate outstanding Borrowings and BA Drawings after giving effect thereto shall not exceed the amount permitted under Section 5.11(b) based on the then-current 13-week Budget under this Agreement.

 

(r)           Section 5.01(f) shall be amended by (1) deleting clause (i) thereof, (2) replacing clause (ii) thereof with the following: “(i) 5:00 p.m., New York City

 

  

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time, on the Wednesday of each week (or if such Wednesday is not a Business Day, on the next succeeding Business Day), a Borrowing Base Certificate as of the immediately preceding Saturday”; (3) renumbering clause (iii) thereof as clause (ii) and (4) inserting at the end thereof the following new clause (iii): “and (iii) 5:00
p.m., New York City time, on the Wednesday of each week (or if such Wednesday is not a Business Day, on the next succeeding Business Day), (A) a 13-week Budget that rolls forward the then existing 13-week Budget to include the week immediately succeeding the thirteen weeks covered by the then existing 13-week Budget, (B) a report that sets forth the actual receipts and disbursements of the Borrowers during the immediately preceding week and includes a summary of all deposits in transit and reflects aggregate
cash balances in, and all outstanding checks drawn against, all accounts of the Borrowers and their Subsidiaries with financial and other institutions as of the immediately preceding Saturday and (C) a comparison of actual performance for the preceding week to each of (i) the Initial Budget and (ii) the 13-week Budget previously provided and an explanation for any material variances, each in form satisfactory to the Lenders and accompanied by a certificate of the Chief Financial Officer or the Chief Executive
Officer to the effect that such report and comparison are accurate and complete and that such Budget has been prepared in good faith and based upon assumptions believed to be reasonable at the time when prepared (it being agreed that each such 13-week Budget shall be deemed to have been accepted by the Lenders, and shall thereafter be the then-current 13-week Budget under this Agreement, if either (x) each Lender shall have advised the Administrative Agent in writing that such Lender accepts such 13-week Budget
or (y) such 13-week Budget shall have been delivered at or prior to the time specified in this clause (iii) and no Lender shall have advised the Administrative Agent in writing at or prior to 5:00 p.m., New York City time, on the Friday immediately succeeding the Wednesday on which such delivery shall have been required (or if either such Wednesday or such Friday is not a Business Day, on the next succeeding Business Day following such Friday) that the 13-week Budget so delivered is not satisfactory to such Lender
in form, substance or otherwise);

 

(s)           Section 5.01 shall be amended by (1) deleting the word “and” at the end of subparagraph (i) thereof, (2) re-lettering subparagraph (j) thereof as subparagraph (k) and (3) inserting the following new subparagraph (j): “(j) when required to be delivered
under the Deferral Agreement dated as of May 14, 2009, among Barzel Industries Inc., the US Borrower and the holders of the Senior Notes, all items required to be delivered under Section 5(a)(i)-(iv) and Section 5(c)(i)-(iv) thereof, in each case, as in effect on the Amendment Effective Date under Amendment No. 2 to this Agreement (whether or not such Deferral Agreement shall be in effect and, if in effect, without regard to the form of such Deferral Agreement then in effect); and”.

 

(t)           Section 5.09(b) shall be amended by replacing the first sentence thereof with the following sentence:

 

  

5

  

Each of Parent and the Borrowers will, and will cause each of the Subsidiaries to, permit any representatives designated by the Administrative Agent (including any consultants, accountants, lawyers and appraisers retained by the Administrative Agent) to conduct evaluations and appraisals as requested by the Administrative Agent at any time
of the Borrowers’ computation of the Borrowing Base and the assets included therein and such other assets and properties of the Borrowers or any other Subsidiary as the Administrative Agent may reasonably require. In addition, the Borrowers will on the Wednesday of each week deliver to the Administrative Agent a report prepared by Houlihan, Lokey, Howard & Zukin Capital, Inc. (“HL”), or use their best efforts to arrange (subject to ordinary scheduling conflicts of the relevant parties) for
a status call between the Lenders and HL to report and update the Lenders, on the status of HL’s activities on behalf of the Borrowers.

 

(u)           Section 5.11 shall be amended by designating the existing provision as paragraph (a) and inserting at the end thereof the following additional paragraph:

 

(b)           The proceeds of each Revolving Loan drawn, and each BA accepted and purchased, on and after June 1, 2009, will be used solely for the purposes and in the amounts (subject to the Permitted Variances) set forth in the Initial Budget and the 13-week Budget most recently delivered
under Section 5.01(f) and, at any point during the term hereof, the Borrowers’ aggregate outstanding Borrowings and BA Drawings shall not, without the express written consent of the Lenders, be more than the greater of (i) US$2,000,000 above, or (ii) 120% of, the projected ending Borrowings and BA Drawings balance for such week as set forth in the then-current 13-week Budget under this Agreement at the time, as applicable, any Revolving Loan is drawn or any BA is accepted and purchased (such variances from
the amounts set forth in a Budget being referred to as the “Permitted Variances” in respect of such Budget). At any point during the term hereof, the aggregate amount of disbursements by Parent, Borrowers and the Subsidiaries during any week shall not, without the express written consent of the Lenders, be more than 120% of the projected aggregate amount of disbursements for such week as set forth in the then-current 13-week Budget under
this Agreement.

 

(v)           Section 5.13 shall be amended by adding a new paragraph (c) thereto reading in its entirety as follows:

 

(c)           As soon as practicable after the Amendment Effective Date under Amendment No. 2 to this Agreement, the Borrowers shall retain a financial manager, acceptable in the absolute discretion of the Required Lenders, to assist and support management of the Borrowers, provided that
such financial manager shall report to the Board of Directors of Parent and be subject to the authority and direction of such Board of Directors

 

  

6

  

and provide services to Parent and its Subsidiaries pursuant to an agreement between Parent and such financial manager in form and substance reasonably satisfactory to the Lenders; and provided further, that notwithstanding
the forgoing, nothing in this Section 5.13(c) shall restrict, interfere or otherwise affect the officers or the Board of Directors in satisfying their fiduciary obligations.

 

(w)           Section 6.08(a) shall be amended (1) to delete clauses (iii), (iv), (v) and (vi) thereof and (2) to delete clauses (A) and (B) from clause (ii) thereof, to replace with a period the comma at the end of clause (ii) thereof and to add at the end of clause (i) thereof the
word “and”.

 

(x)           Section 6.08(b) shall be amended to delete clause (v) thereof, to replace with a period the phrase “; and” at the end of clause (iv) thereof and to add at the end of clause (iii) thereof the word “and”.

 

(y)           Section 6.12 shall be replaced with the phrase “omitted” and the reference to Section 6.12 in Section 5.01(c) shall be deleted.

 

(z)           Article VI shall be amended by inserting at the end thereof the following new Section 6.14:

 

SECTION 6.14.  Control Agreements. Parent and the Borrowers will not permit the aggregate balance of cash and Permitted Investments of the Loan Parties in any account (other than (i) each deposit account, the funds in which are used, in the ordinary course of business,
solely for the payment of salaries and wages, workers’ compensation, pension benefits and similar expenses, (ii) each deposit account used, in the ordinary course of business, solely for daily accounts payable and that has an ending daily balance of zero, and (iii) each BofA Excluded Account (as defined below)) not subject to Deposit Account Control Agreements or other appropriate control agreements in favor of the Administrative Agent in form and substance reasonably satisfactory to the Administrative
Agent to exceed an amount to be specified by the Lenders in their discretion. Notwithstanding anything to the contrary in any Loan Document, Parent and the Borrowers shall not be required to maintain any Deposit Account Control Agreement or other control agreement with respect to any BofA Excluded Account unless the Administrative Agent shall have delivered written notice to the Borrowers after the Amendment Effective Date for Amendment No. 2 to this Agreement stating that such agreement shall be required following
a date specified in such notice (after which date clause (iii) in the immediately preceding sentence shall be deemed deleted). “BofA Excluded Account” means (A) each deposit account maintained with Bank of America, N.A., or any of its Affiliates in respect of which there is not in effect a Deposit Account Control Agreement as of the Amendment Effective Date under Amendment No. 2 to this Agreement and (B) at all times on and after the
date on which the Deposit Account

 

  

7

  

Control Agreement in effect with respect thereto on the Amendment Effective Date under Amendment No. 2 to this Agreement shall cease to be effective, the concentration account maintained in Canada with Bank of America, N.A., or one of its Affiliates (the “Canadian Account”).
The Borrowers shall at all times act to minimize the amount of cash held in BofA Excluded Accounts (and shall in any event ensure that the aggregate amount contained in (1) the BofA Excluded Accounts other than the Canadian Account, shall not at any time exceed an amount to be specified by the Lenders in their discretion for all such accounts taken together, and (2) the Canadian Account at any time that it is a BofA Excluded Account, shall not at any time exceed an amount to be specified by the Lenders in their
discretion) and shall follow such procedures as the Administrative Agent or the Lenders may from time to time specify in connection therewith.

 

(aa)           Paragraph (d) of Article VII shall be amended by inserting at the end thereof the phrase: “or the Borrowers shall fail to observe or perform any covenant, condition or agreement contained in Section 5.01(f) or 5.09(b) and such failure shall continue unremedied for
a period of 2 Business Days”.

 

(bb)           Article IX shall be amended by inserting at the end thereof the following new Section 9.20:

 

SECTION 9.20.  Administrative Agent Authority. (a) The Administrative Agent shall establish procedures satisfactory to the Administrative Agent, and the Borrowers shall cooperate with the Administrative Agent in effecting such procedures as soon as practicable after
the Amendment Effective Date under Amendment No. 2 to this Agreement, pursuant to which (i) on each Business Day, to the extent specified by the Administrative Agent funds in deposit accounts and lockbox accounts of Parent, the Borrowers and the Subsidiaries shall be swept to one or more concentration accounts maintained with the Administrative Agent, and (ii) in the Administrative Agent’s sole discretion, all or part of such funds shall be (A) remitted by the Administrative Agent to such account or accounts
as may be specified by the Borrowers or (B) applied as set forth in Section 2.11(f). Each Lender agrees that remittances made under this Agreement are made on such Lender’s behalf. The Administrative Agent is hereby authorized and directed to take all such actions as it may deem necessary or advisable under each Deposit Account Control Agreement to ensure the effectiveness of the foregoing procedures. Notwithstanding the foregoing or any other provision of any Loan Document, in the event that the Administrative
Agent or the Required Lenders shall on any Business Day deliver written notice to the Borrowers stating that a Cash Dominion Period has commenced, then the period commencing on such Business Day and ending on the date on which the Administrative Agent or the Required Lenders shall deliver written notice to the Borrowers stating that

 

  

8

  

such Cash Dominion Period has terminated shall for all purposes of the Loan Documents be a “Cash Dominion Period”.

 

(b)           At any time or from time to time, the Administrative Agent’s authority to take the actions set forth in paragraph (a) may be suspended by any Lender upon notice delivered to the Administrative Agent in accordance with paragraph (d) of this Section (a “Suspension
Notice”). No Suspension Notice shall be effective until one Business Day following the proper delivery of such Suspension Notice to the Administrative Agent.

 

(c)           The Administrative Agent’s authority to take the actions set forth in paragraph (a) shall be reinstated when each Lender that has previously delivered a Suspension Notice pursuant to paragraph (b) shall have delivered a second notice (a “Retraction
Notice”) to the Administrative Agent in accordance with paragraph (d) of this Section retracting its Suspension Notice. A Retraction Notice shall be effective immediately upon proper delivery to the Administrative Agent.

 

(d)           Suspension Notices and Retraction Notices may be delivered to the Administrative Agent solely via email, which email shall (i) contain the subject line “Barzel: Suspension Notice” or “Barzel: Retraction Notice”, as the case may be, (ii) refer to
this Section 9.20 and express the Lender’s intention to suspend the Administrative Agent’s authority pursuant to paragraph (b) or reinstate its authority pursuant to paragraph (c) of this Section 9.20, as the case may be and (iii) be addressed to the following recipients: robert.a.kaulius@jpmorgan.com and andrew.j.laughlin@jpmchase.com.

 

(e)           Upon receipt by the Administrative Agent of a Suspension Notice or Retraction Notice, the Administrative Agent shall notify each Lender and the Borrowers of such notice or event via email, which email shall be sent to the address of each Lender on file with the Administrative
Agent or to any other email address previously provided by any Lender to the Administrative Agent in writing. Any failure or delay by the Administrative Agent in delivering such notice to any Lender or Borrower shall not impair the effectiveness of any Suspension Notice or Retraction Notice or the authority granted to or withheld from the Administrative Agent under this Agreement in connection with the foregoing.

 

(f)           The Lenders acknowledge that (i) the actions contemplated by this Section to be taken by the Administrative Agent constitute actions by the Administrative Agent “with the consent or at the request of the Required Lenders” under Article VIII of this Agreement
and (ii) the actions contemplated by this Section to be taken by the Administrative Agent are requested of it by the Lenders as a result of the Administrative Agent’s role under this Agreement and are being taken in connection with

 

  

9

  

“the performance by the parties to the Loan Documents of their respective obligations thereunder” for purposes of Section 9.03.

 

(g)           The Administrative Agent may, in its sole discretion, decline to take the actions contemplated by paragraph (a) on any Business Day. The Administrative Agent shall promptly deliver notice to each Lender of its decision to decline to take such actions in the manner described
in paragraph (e). Any failure or delay by the Administrative Agent in delivering such notice shall not affect the rights or obligations of the Administrative Agent hereunder.

 

(h)           In furtherance of the foregoing, it is understood and agreed by each Lender that so long as no Suspension Notice is effective at such time, the Administrative Agent shall bear no liability whatsoever to any Person for any amounts remitted by the Administrative Agent under
the authority granted by paragraph (a) at such time, except to the extent such remittances are found in a final judgment of a court of competent jurisdiction to have resulted from the wilful misconduct or gross negligence of the Administrative Agent. This paragraph (h) shall survive the termination or suspension of this Agreement in whole or in part.

 

SECTION 3.  Representations and Warranties. Each of the Parent and the Borrowers hereby represents and warrants to the Administrative Agent and the Lenders that as of the date hereof and as
of the Amendment Effective Date that, before and after giving effect to this Amendment:

 

(a)           no Default has occurred and is continuing; and

 

(b)           the representations and warranties of each Loan Party set forth in the Loan Documents (other than the representation and warranty set forth in Section 3.04(d)) are true and correct in all material respects.

 

SECTION 4.  Effectiveness. This Amendment shall become effective on the date (the “Amendment Effective Date”) on
which (a) the Administrative Agent shall have received (i) counterparts hereof duly executed and delivered by Parent, the Borrowers, JPMCB, CIBC and the Required Lenders, (ii) a certificate of the chief executive officer or a Financial Officer of the Parent (1) stating that on the Amendment Effective Date the representations and warranties set forth in Section 3 are true and correct, and (2) attaching copies of each of the Initial Budget and the initial 13-week Budget and certifying that each has been prepared
in good faith and based upon assumptions believed to be reasonable as of the Amendment Effective Date, and (iii) all amounts accrued and unpaid as of the Amendment Effective Date in respect of interest or fees under the Credit Agreement and all other amounts due and payable by any Loan Party under any Loan Document on the Amendment Effective Date, including, to the extent invoiced, all fees and expenses required to be paid or reimbursed by any Loan Party under any Loan Document (including but not limited to all
outstanding invoices of counsel for the Administrative Agent and all outstanding invoices in respect of collateral monitoring), (b)

  

10

  

JPMCB and CIBC shall have approved all arrangements in respect of the outstanding Letters of Credit, (c) JPMCB and CIBC shall have approved (i) the Initial Budget and (ii) the initial 13-week Budget, and (d) JPMCB and CIBC shall have approved all arrangements in respect of Cash Management Services, deposit accounts, lockbox accounts, Deposit
Account Control Agreements and other control agreements of Parent, the Borrowers and their Subsidiaries. The approval by each of JPMCB and CIBC of the matters set forth in clauses (b), (c) and (d) shall be evidenced by its release of its signature page hereto.

 

SECTION 5.  Assignment. Effective immediately
following the effectiveness of the amendments provided for in Section 3 on the Amendment Effective Date, for an agreed consideration, JPMCB hereby irrevocably sells and assigns to CIBC, and CIBC hereby irrevocably purchases and assumes from JPMCB, subject to and in accordance with the Standard Terms and Conditions set forth in Exhibit A to the Credit Agreement and the Credit Agreement, (a) all JPMCB’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or
instruments delivered pursuant thereto related to US$6,666,666.67 of JPMCB’s Revolving Commitment and 33.333333333% of all of JPMCB’s outstanding rights and obligations in respect of its Revolving Commitment and the Revolving Exposure, and (b) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of JPMCB (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement,
any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (a) above (the rights and obligations sold and assigned pursuant to clauses (a) and (b) above being collectively the “Assigned Interest”). Such sale and assignment is
without recourse to JPMCB and without representation or warranty by JPMCB. For purposes of this Agreement, CIBC designates Canadian Imperial Bank of Commerce as its Applicable Lending Office for Loans and BA Drawings to the Canadian Borrower.

 

SECTION 6.  No Amendments or Other Waivers; Confirmation.

 

(a)           Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Administrative Agent, the Lenders or the Issuing Banks under the Credit Agreement or any
other Loan Document and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in
the Credit Agreement or any other Loan Document in similar or different circumstances. This Amendment shall apply and be effective only with 

 

 

11

 

 

respect to the provisions of the Credit Agreement specifically referred to herein. This Amendment shall constitute a Loan Document.

 

(b)           On and after the effective date of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import, and each reference to the Credit Agreement in any other
Loan Document, shall be deemed a reference to the Credit Agreement as modified hereby.

 

SECTION 7.  Governing Law; Counterparts.

 

(a)           This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.

 

(b)           This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, and all such counterparts together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment
by facsimile transmission or other electronic imaging means shall be as effective as delivery of a manually executed counterpart hereof.

 

SECTION 8.  Headings. The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

 

[Signature pages to follow]

  

12

  

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly executed by their respective authorized officers as of the day and year first above written.

	  	  	  	
BARZEL INDUSTRIES INC.,

	  	  	  	  	  
	  	  	  	
by 
	
/s/ Corrado De Gasperis

	  	  	  	  	
Name:

Title:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
BARZEL FINCO INC.,

	  	  	  	  	  
	  	  	  	
by
	
/s/ Corrado De Gasperis

	  	  	  	  	
Name:

Title:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
BARZEL INDUSTRIES CANADA INC.,

	  	  	  	  	  
	  	  	  	
by 
	
/s/ Corrado De Gasperis

	  	  	  	  	
Name:

Title:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent

	  	  	  	  	  
	  	  	  	
by 
	
/s/ Douglas A. Jenks

	  	  	  	  	
Name:  Douglas A. Jenks

Title:    Managing Director

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
CIBC INC.,

	  	  	  	  	  
	  	  	  	
by 
	
/s/ Lindsay Gordon

	  	  	  	  	
Name:  Lindsay Gordon

Title:    CIBC Inc. Agent

	  	  	  	  	  
	  	  	  	
by 
	  
	  	  	  	  	
Name:

Title:

  

13

  

SIGNATURE PAGE TO

AMENDMENT NO.2

UNDER THE CREDIT AGREEMENT

DATED AS OF NOVEMBER 15, 2007, OF

BARZEL INDUSTRIES INC.

	  	
Name of Institution
	  	
The Bank of Nova Scotia

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ Pierre Pichette

	  	  	  	  	
Name:  Pierre Pichette

Title:    Senior Credit Solution Manager

	  	  	  	  	  
	  	
For any Lender that requires a second signature line:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ Glen Paterson

	  	  	  	  	
Name:  Glenn Paterson

Title:    Director, Credit Solution

  

14

  

SIGNATURE PAGE TO

AMENDMENT NO.2

UNDER THE CREDIT AGREEMENT

DATED AS OF NOVEMBER 15, 2007, OF

BARZEL INDUSTRIES INC.

	  	
Name of Institution
	  	
The CIT Group/Business Credit, Inc.

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ Evelyn Kusold

	  	  	  	  	
Name:  Evelyn Kusold

Title:    Vice President

	  	  	  	  	  
	  	
For any Lender that requires a second signature line:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
 

	  	  	  	  	
Name:

Title:

  

15

  

SIGNATURE PAGE TO

AMENDMENT NO.2

UNDER THE CREDIT AGREEMENT

DATED AS OF NOVEMBER 15, 2007, OF

BARZEL INDUSTRIES INC.

	  	
Name of Institution
	  	
Fifth Third Bank

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ James Conklin

	  	  	  	  	
Name:  James Conklin

Title:    Assistant Vice President

	  	  	  	  	  
	  	
For any Lender that requires a second signature line:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
 

	  	  	  	  	
Name:

Title:

  

16

  

SIGNATURE PAGE TO

AMENDMENT NO.2

UNDER THE CREDIT AGREEMENT

DATED AS OF NOVEMBER 15, 2007, OF

BARZEL INDUSTRIES INC.

	  	
Name of Institution
	  	
GENERAL ELECTRIC CAPITAL CORPORATION

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ Rebecca L. Milligan

	  	  	  	  	
Name:  Rebecca L. Milligan

Title:    Duly Authorized Signatory

	  	  	  	  	  
	  	
For any Lender that requires a second signature line:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
 

	  	  	  	  	
Name:

Title:

  

17

  

SIGNATURE PAGE TO

AMENDMENT NO.2

UNDER THE CREDIT AGREEMENT

DATED AS OF NOVEMBER 15, 2007, OF

BARZEL INDUSTRIES INC.

	  	
Name of Institution
	  	
Wachovia Capital Finance

<New England>

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ John Hussan

	  	  	  	  	
Name:  John Hussan

Title:    Managing Director

	  	  	  	  	  
	  	
For any Lender that requires a second signature line:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
 

	  	  	  	  	
Name:

Title:

  

18

  

SIGNATURE PAGE TO

AMENDMENT NO.2

UNDER THE CREDIT AGREEMENT

DATED AS OF NOVEMBER 15, 2007, OF

BARZEL INDUSTRIES INC.

	  	
Name of Institution
	  	
Wells Fargo Foothill LLC

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ Sanat Amladi

	  	  	  	  	
Name:  Sanat Amladi

Title:    Vice President

	  	  	  	  	  
	  	
For any Lender that requires a second signature line:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
 

	  	  	  	  	
Name:

Title:

  

19

  

SIGNATURE PAGE TO

AMENDMENT NO.2

UNDER THE CREDIT AGREEMENT

DATED AS OF NOVEMBER 15, 2007, OF

BARZEL INDUSTRIES INC.

	  	
Name of Institution
	  	
Wells Fargo Foothill, LLC

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
/s/ Ilene Silberman

	  	  	  	  	
Name:  Ilene Silberman

Title:    Vice President

	  	  	  	  	  
	  	
For any Lender that requires a second signature line:

	  	  	  	  	  
	  	  	  	  	  
	  	  	  	
by 
	
 

	  	  	  	  	
Name:

Title:

  

20

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