Document:

exv4w3

Exhibit 4.3

James Hardie — Common Terms Deed Poll

Amended and restated on 21 December 2009

James Hardie International Finance Limited (“JHIFL”)

James Hardie Building Products, Inc. (“JHBP”)

James Hardie Industries N.V. (“Guarantor”)

Mallesons Stephen Jaques

Level 61

Governor Phillip Tower

1 Farrer Place

Sydney NSW 2000

Australia

T +61 2 9296 2000

F +61 2 9296 3999

DX 113 Sydney

www.mallesons.com

Ref: GNH:YYC

 

 

James Hardie — Common Terms Deed Poll

Contents

	 	 	 	 	 
	Details
	 	 	1	 
	 
	 	 	 	 
	General terms
	 	 	3	 
	 
	 	 	 	 
	1 Interpretation
	 	 	3	 
	 
	 	 	 	 
	1.1 Definitions
	 	 	3	 
	1.2 References to certain general terms
	 	 	20	 
	1.3 Numbers
	 	 	21	 
	1.4 Headings
	 	 	21	 
	1.5 Conflict
	 	 	21	 
	1.6 Shareholder ratification
	 	 	21	 
	1.7 Borrowers severally liable only
	 	 	22	 
	 
	 	 	 	 
	Part 1 Creditors and Facilities
	 	 	23	 
	 
	 	 	 	 
	2 Creditors and Facilities
	 	 	23	 
	 
	 	 	 	 
	2.1 Creditors and Facilities
	 	 	23	 
	2.2 Removal of benefit for particular Creditor
	 	 	23	 
	 
	 	 	 	 
	Part 2 Standard terms — all Facilities
	 	 	24	 
	 
	 	 	 	 
	3 Conditions precedent
	 	 	24	 
	 
	 	 	 	 
	3.1 Conditions to first drawdown
	 	 	24	 
	3.2 Conditions to subsequent drawdowns
	 	 	25	 
	 
	 	 	 	 
	4 Payments
	 	 	25	 
	 
	 	 	 	 
	4.1 Manner of payment
	 	 	25	 
	4.2 Currency of payment
	 	 	26	 
	 
	 	 	 	 
	5 Withholding tax
	 	 	26	 
	 
	 	 	 	 
	5.1 Payments by Obligor
	 	 	26	 
	5.2 Payments by a facility agent to Creditors
	 	 	27	 
	5.3 Tax credit
	 	 	27	 
	5.4 Early repayment or redemption
	 	 	28	 
	 
	 	 	 	 
	6 Increased costs
	 	 	28	 
	 
	 	 	 	 
	6.1 Compensation
	 	 	28	 
	6.2 Substantiating costs
	 	 	29	 
	6.3 Procedure for claim
	 	 	29	 
	6.4 Possible minimisation
	 	 	29	 
	 
	 	 	 	 
	7 Illegality
	 	 	29	 
	 
	 	 	 	 
	7.1 Creditor’s right to suspend or cancel
	 	 	29	 
	7.2 Extent and duration
	 	 	30	 
	7.3 Notice requiring early repayment or redemption
	 	 	30	 
	7.4 Creditor to seek alternative funding method
	 	 	30	 

	 	 	 
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	8 Representations and warranties
	 	 	30	 
	 
	 	 	 	 
	8.1 Representations and warranties
	 	 	30	 
	8.2 When representations and warranties made
	 	 	33	 
	8.3 Reliance on representations and warranties
	 	 	33	 
	 
	 	 	 	 
	9 Undertakings
	 	 	33	 
	 
	 	 	 	 
	9.1 Application
	 	 	33	 
	9.2 General undertakings
	 	 	33	 
	9.3 Negative Pledge and disposals
	 	 	34	 
	9.4 Financial undertakings
	 	 	34	 
	9.5 GAAP
	 	 	35	 
	9.6 Reporting undertakings
	 	 	35	 
	9.7 Officer’s certificate
	 	 	39	 
	 
	 	 	 	 
	10 Events of default
	 	 	39	 
	 
	 	 	 	 
	10.1 Events of Default
	 	 	39	 
	10.2 Consequences of default
	 	 	43	 
	 
	 	 	 	 
	11 Review events
	 	 	43	 
	 
	 	 	 	 
	12 Costs and indemnities
	 	 	44	 
	 
	 	 	 	 
	12.1 What the Borrower agrees to pay
	 	 	44	 
	12.2 Indemnity
	 	 	44	 
	12.3 Currency conversion on judgment debt
	 	 	45	 
	12.4 Indirect Taxes
	 	 	45	 
	 
	 	 	 	 
	13 Interest on overdue amounts
	 	 	46	 
	 
	 	 	 	 
	13.1 Obligation to pay
	 	 	46	 
	13.2 Compounding
	 	 	46	 
	13.3 Interest following judgment
	 	 	46	 
	 
	 	 	 	 
	Part 3 General
	 	 	47	 
	 
	 	 	 	 
	14 Change of Borrowers
	 	 	47	 
	 
	 	 	 	 
	14.1 New Borrowers
	 	 	47	 
	14.2 Release of Borrowers
	 	 	47	 
	 
	 	 	 	 
	15 Dealing with interests
	 	 	48	 
	 
	 	 	 	 
	15.1 Dealings by Obligors
	 	 	48	 
	15.2 Dealings by Creditors
	 	 	48	 
	15.3 Change in lending office
	 	 	48	 
	15.4 Securitisation permitted
	 	 	48	 
	15.5 No increased costs
	 	 	49	 
	 
	 	 	 	 
	16 Obligors’ Agent
	 	 	49	 
	 
	 	 	 	 
	16.1 Obligors’ Agent as agent of the Obligors
	 	 	49	 
	16.2 Acts of Obligors’ Agent
	 	 	49	 
	 
	 	 	 	 
	17 Notices
	 	 	50	 
	 
	 	 	 	 
	17.1 Form
	 	 	50	 
	17.2 Delivery
	 	 	50	 
	17.3 When effective
	 	 	50	 

	 	 	 
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	17.4 Receipt — postal
	 	 	50	 
	17.5 Receipt — fax
	 	 	50	 
	17.6 Receipt — general
	 	 	50	 
	17.7 Notices to or from facility agent
	 	 	51	 
	17.8 Waiver of notice period
	 	 	51	 
	 
	 	 	 	 
	18 General
	 	 	51	 
	 
	 	 	 	 
	18.1 Consents
	 	 	51	 
	18.2 Certificates
	 	 	51	 
	18.3 Set-off
	 	 	51	 
	18.4 Discretion in exercising rights
	 	 	51	 
	18.5 Partial exercising of rights
	 	 	51	 
	18.6 No liability for loss
	 	 	51	 
	18.7 Conflict of interest
	 	 	52	 
	18.8 Remedies cumulative
	 	 	52	 
	18.9 Indemnities
	 	 	52	 
	18.10 Rights and obligations are unaffected
	 	 	52	 
	18.11 Inconsistent law
	 	 	52	 
	18.12 Supervening legislation
	 	 	52	 
	18.13 Variation
	 	 	52	 
	18.14 Waiver
	 	 	52	 
	18.15 Confidentiality
	 	 	52	 
	18.15A Creditor’s compliance with law
	 	 	53	 
	18.16 No responsibility for other’s obligations
	 	 	53	 
	18.17 Further steps
	 	 	53	 
	18.18 Counterparts
	 	 	54	 
	18.19 Governing law
	 	 	54	 
	18.20 Serving documents
	 	 	54	 
	18.21 Process Agent
	 	 	54	 
	18.22 Each Creditor’s consent to this amended and restated deed
	 	 	54	 
	 
	 	 	 	 
	Schedule 1 — Verification Certificate (clause 3.1
	 	 	55	 
	 
	 	 	 	 
	Schedule 2 — Facility Nomination Letter (clause 2.1
	 	 	57	 
	 
	 	 	 	 
	Schedule 3 — Form of New Borrower Deed Poll (clause 14.1
	 	 	59	 
	 
	 	 	 	 
	Schedule 4 — Form of Release Request (clause 14.2)
	 	 	60	 
	 
	 	 	 	 
	Schedule 5 — Form of Deed of Release (clause 14.2)
	 	 	61	 
	 
	 	 	 	 
	Signing page
	 	 	62	 

	 	 	 
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James Hardie — Common Terms Deed Poll

Details

Interpretation – Definitions are in clause 1.

	 	 	 	 	 
	Parties	 	JHIFL, JHBP and the Guarantor, each as described below.
	 
	 	 	 	 
	JHIFL

	 	Name
	 	James Hardie International Finance Limited
	 
	 	 	 	 
	 

	 	Corporate seat
	 	Dublin
	 
	 	 	 	 
	 

	 	Registration Number
	 	 471702
	 
	 	 	 	 
	 

	 	Address
	 	Europa House
	 

	 	 	 	Second Floor
	 

	 	 	 	Harcourt Centre
	 

	 	 	 	Harcourt Street
	 

	 	 	 	Dublin 2
	 

	 	 	 	Ireland
	 
	 	 	 	 
	 

	 	Fax
	 	+ 353 1 479 1128
	 
	 	 	 	 
	 

	 	Attention
	 	Treasurer
	 
	 	 	 	 
	JHBP

	 	Name
	 	James Hardie Building Products, Inc.
	 
	 	 	 	 
	 

	 	Incorporated in
	 	Nevada
	 
	 	 	 	 
	 

	 	Address
	 	Suite 100
	 

	 	 	 	 26300 La Alameda
	 

	 	 	 	Mission Viejo CA 92691
	 

	 	 	 	United States of America
	 
	 	 	 	 
	 

	 	Fax
	 	+ 1 949 348 4534
	 
	 	 	 	 
	 

	 	Attention
	 	Company Secretary
	 
	 	 	 	 
	Guarantor

	 	Name
	 	James Hardie Industries N.V.
	 
	 	 	 	 
	 

	 	Corporate seat
	 	Amsterdam
	 
	 	 	 	 
	 

	 	Registered Number
	 	 34106455
	 
	 	 	 	 
	 

	 	ABN
	 	49 097 829 895
	 
	 	 	 	 
	 

	 	Address
	 	8th Floor, Atrium, Unit 08
	 

	 	 	 	Strawinskylaan 3077
	 

	 	 	 	1077 ZX Amsterdam
	 

	 	 	 	The Netherlands

	 	 	 
	© Mallesons Stephen Jaques

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	 	Fax
	 	+ 31 20 404 2544
	 
	 	 	 	 
	 

	 	Attention
	 	Managing Director and Company Secretary
	 
	 	 	 	 
	In favour of:	 	Each Creditor as defined in this amended and restated deed.
	 
	 	 	 	 
	Date of deed	 	See Signing page
	 
	 	 	 	 
	Recitals	 	A   This amended and restated deed amends and restates the “James Hardie — Common
Terms Deed Poll” dated 15 June 2005 as amended by the “CTDP Amendment Deed and New
Borrower Deed Poll” dated 12 January 2006 and as further amended and restated on 20
February 2008 and 6 October 2009 (together, the “Previous Deeds”).

	 
	 	 	 	 
	 	 	B   The amendment and restatement of the Previous Deeds does not affect the nomination
of any Person as a Creditor nor the nomination of any document as a Facility
Agreement or Transaction Document prior to the execution of this amended and
restated deed.

	 
	 	 	 	 
	 	 	C    The amendment and restatement of the Previous Deeds only applies to a Financier
which has agreed to the changes made to the Previous Deeds by the amendment and
restatement..

	 	 	 
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James Hardie — Common Terms Deed Poll

General terms

	1	 	Interpretation
	 
	1.1	 	Definitions
	 
	 	 	These meanings apply unless the contrary intention appears:
	 
	 	 	A$, AUD or Australian Dollars means the lawful currency of Australia.
	 
	 	 	AFFA means the document entitled “Amended & Restated Final Funding Agreement in respect of
the provision of long term funding for compensation arrangements for certain victims of
Asbestos-related diseases in Australia” dated 21 November 2006 between the Guarantor,
James Hardie 117 Pty Limited (formerly known as LGTDD Pty Limited), the State of New South
Wales and the Asbestos Injuries Compensation Fund Limited in its capacity as trustee of
the Asbestos Injuries Compensation Fund.
	 
	 	 	Amended and Restated Trust Deed means the Asbestos Injuries Compensation Fund Amended and
Restated Trust Deed dated 14 December 2006 between the Guarantor and Asbestos Injuries
Compensation Fund Limited.
	 
	 	 	Asbestos Injuries Compensation Fund has the meaning given to it in the Amended and
Restated Trust Deed.
	 
	 	 	ASX means the stock exchange operated by ASX Limited.
	 
	 	 	ASX CNW Announcement means any release of information by the Guarantor through the ASX
concerning any event or circumstance affecting the financial position of the Group in a
manner which would affect the calculation of Consolidated Net Worth and which sets out
specific details of the balance sheet impact of such event or circumstance.
	 
	 	 	ASX CNW Announcement Date means the date on which an ASX CNW Announcement is made.
	 
	 	 	Authorisation means:

	 	(a)	 	any consent, registration, filing, agreement, notarisation, certificate,
licence, approval, permit, authority or exemption from, by or with a Government
Agency; and
	 
	 	(b)	 	any consent or authorisation regarded as given by a Government Agency due to
the expiration of the period specified by a statute within which the Government Agency
should have acted if it wished to proscribe or limit anything already lodged,
registered or notified under that statute.

	 	 	Authorised Officer means:

	 	 	 
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	 	(a)	 	in the case of a Creditor, a director or secretary of the Creditor, or an
officer of that party whose title contains the word “director”, “chief”,
“head”,
“president”, “vice-president”, “executive” or “manager”, or a person performing the
functions of any of them, or any other person appointed by the Creditor as an
Authorised Officer for the purposes of a Transaction Document; and

	 	(b)	 	in the case of an Obligor, a person appointed by the Obligor and notified to
the Creditor as an Authorised Officer for the purposes of a Transaction Document, and
whose specimen signature is provided with such notification to the Creditor.

	 	 	Beneficiary Nomination Letter means, in relation to a Creditor, the “Beneficiary
Nomination Letter” (as that term is defined in the Guarantee Trust Deed) for that Creditor
and one or more Facility Agreements for that Creditor.

	 	 	Borrower means each of JHIFL, JHBP and any new borrower under clause 14.1 (“New
Borrowers”) individually but not jointly. It excludes any person released pursuant to
clause 14.2 (“Release of Borrowers”).

	 	 	Break Costs means the actual costs and losses which a Creditor certifies (with reasonable
details) that it has suffered or incurred by reason of:

	 	(a)	 	the liquidation or re-employment of deposits or other funds acquired or
contracted for by the Creditor to fund or maintain financial accommodation under a
Facility; or
	 
	 	(b)	 	the termination or reversing of any agreement or arrangement entered into by
the Creditor to hedge, fix or limit its effective cost of funding in relation to a
Facility,

	 	 	but excluding any loss of margin.

	 	 	Business Day means a weekday (not being a public holiday) on which:

	 	(a)	 	in respect of a day on which the interest rate under a Facility Agreement is
required to be determined and for the purposes of giving drawdown notices and
selection notices under a Facility Agreement, banks are open for general banking
business in London;
	 
	 	(b)	 	for the purposes of making or receiving any payments in US Dollars, banks are
open for general banking business in London, New York and Sydney;
	 
	 	(c)	 	for the purpose of making or receiving any payments in another currency,
banks are open for general banking business in such place or places specified in a
relevant Facility Agreement; and
	 
	 	(d)	 	for all other purposes, banks are open for general banking business in
Sydney, Dublin and (until the Irish Registration Date) Amsterdam and any other place
specified in a relevant Facility Agreement.

	 	 	Capital Lease means, at any time, a lease with respect to which the lessee is required
concurrently to recognise the acquisition of an asset and the incurrence of a liability in
accordance with GAAP.

	 	 	 
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	 	 	Capital Lease Obligation means, with respect to any Group Member (other than an Excluded
Entity) and a Capital Lease, the amount of the obligation of such
Group Member as the
lessee under such Capital Lease which would, in accordance with GAAP, appear as a
liability on a balance sheet of such Group Member.

	 	 	Change of Control means the Guarantor becoming a Subsidiary (as defined in the
Corporations Act) of another person.

	 	 	Charitable Fund has the meaning given to it in the AFFA.

	 	 	Compensation Provision means, at any time, the aggregate amount (without double counting)
of provisions made by the Group at that time in accordance with GAAP for asbestos related
liabilities (including, without limitation, obligations to fund or pay compensation
pursuant to the AFFA).

	 	 	Consolidated Funded Capitalisation means, at any time, the sum of Consolidated Net Worth
and Consolidated Funded Debt at that time.

	 	 	Consolidated Funded Debt means, as of any date of determination, the total of all Funded
Debt of the Group outstanding on that date, after eliminating:

	 	(a)	 	all Funded Debt (if any) of the Excluded Entities; and
	 
	 	(b)	 	all offsetting debits and credits between any Group Members (excluding the
Excluded Entities) and all other items required to be eliminated in the course of the
preparation of consolidated financial statements of the Group in accordance with GAAP.

	 	 	Consolidated Net Worth means, at any date of determination, the sum of:

	 	(a)	 	the par value (or value stated in the books of the Group) of the capital
stock (but excluding treasury stock and capital stock subscribed and unissued) of the
Group; and
	 
	 	(b)	 	the amount of the paid-in capital and retained earnings of the Group,

	 	 	plus the Compensation Provision on that date (and eliminating all other consequential
balance sheet impacts relating to the Compensation Provision), in each case as such
amounts would be shown on the consolidated balance sheet of the Group prepared:

	 	(i)	 	as if the Excluded Entities were not Subsidiaries of the Guarantor (to the
intent that the assets, liabilities and other balance sheet items of all Excluded
Entities shall be excluded in calculating Consolidated Net Worth); and
	 
	 	(ii)	 	in accordance with GAAP,

	 	 	but excluding all consequential balance sheet and other accounting impacts of any
settlement or any court ruling of the “ATO – 1999 Disputed Amended Assessment” (as
described in the financial statements of the Group and provided that the amount does not
exceed the US Dollar equivalent of A$445 million (calculated on the basis of the USD / AUD
exchange rate quoted by the Reserve Bank of Australia on the date the consequential
balance sheet and other

	 	 	 
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accounting impacts are recognised) plus accrued interest since 30 September 2009),

	 	 	in each case, on:

	 	(A)	 	the most recent Reporting Date; or
	 
	 	(B)	 	where applicable, on the most recent ASX CNW Announcement Date, to the extent
such amounts have been adjusted to reflect the content of any ASX CNW Announcement
which post-dates such balance sheet.

	 	 	Consolidated Permitted External Financial Indebtedness means, as of any date of
determination, the total of all Permitted External Financial Indebtedness of the Group
outstanding on that date, after eliminating all offsetting debits and credits between any
Group Members (excluding the Excluded Entities) and all other items required to be
eliminated in the course of the preparation of consolidated financial statements of the
Group in accordance with GAAP.

	 	 	Controller has the meaning it has in the Corporations Act.

	 	 	Corporations Act means the Corporation Act 2001 of Australia.

	 	 	Costs means costs, fees, disbursements, charges and expenses, including, without
limitation where an Obligor is liable to pay or reimburse the Costs, those incurred in
connection with advisers and, unless an Event of Default is subsisting, only for an amount
and on a basis previously agreed to in writing by the Obligor.

	 	 	Creditor means each party nominated as a “Creditor” under a Facility Nomination Letter
(and includes in the case of any syndicated facility, the facility agent) and, if there
are more than one, means each of them individually but not jointly. It does not include
any Group Member.

	 	 	Deed of Release means a deed poll in the form of schedule 5 (“Form of Deed of Release”).

	 	 	Default Rate means, in respect of a Transaction Document, the rate of interest specified
in that document as payable on any amount not paid under the document on the due date for
payment.

	 	 	Details means the section of this amended and restated deed headed “Details”.

	 	 	Directive means:

	 	(a)	 	a law; or
	 
	 	(b)	 	a treaty, official directive, regulation, request, guideline or policy
(whether or not having the force of law) with which responsible financiers generally
comply in carrying on their business.

	 	 	Due Currency means, in respect of any payment to be made under a Transaction Document, the
currency in which that payment is due.

	 	 	EBIT means the operating profit of the Group, on a consolidated basis, before adjustments
for:

	 	 	 
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	 	(a)	 	significant, extraordinary, abnormal or exceptional items;

	 	(b)	 	items recognised in connection with the Special Commission of Inquiry into
Medical Research and Compensation Foundation and other related expenses; and
	 
	 	(c)	 	income tax,

	 	 	but after:

	 	(d)	 	adding back Net Interest Charges and all items referred to in paragraphs (a)
to (e) of the definition of “Net Interest Charges” that were deducted in deriving the
operating profit figure of the Group; and
	 
	 	(e)	 	eliminating all income, expense and other profit and loss statement impact of
the Excluded Entities,

	 	 	determined in each case by reference to the latest audited consolidated financial
statements of the Group delivered under clause 9.6(b). It excludes any earnings from any
Project Activities if these are derived from Project Vehicles or Project Property over
which there exist Security Interests (unless such earnings have actually been received in
cash by an Obligor).

	 	 	Environmental Laws means any and all applicable statutes, laws, regulations, ordinances,
rules, judgments, orders, decrees, permits, concessions, grants, franchises, licences,
agreements or governmental restrictions relating to pollution and the protection of the
environment or the release of any materials into the environment, including those related
to hazardous substances or wastes, air emissions and discharges to waste or public
systems.

	 	 	Event of Default means an Event of Default set out in clause 10.1 (“Events of Default”).

	 	 	Exchange Act means the Securities Exchange Act 1934 of the United States of America.

	 	 	Excluded Entity means the Fund (and Asbestos Injuries Compensation Fund Limited in its
personal capacity) and each of the following entities:

	 	(a)	 	Amaba Pty Limited (ACN 000 387 342);
	 
	 	(b)	 	Amaca Pty Limited (ACN 000 035 512);
	 
	 	(c)	 	ABN 60 Pty Limited (ACN 000 009 263); and
	 
	 	(d)	 	Marlew Mining Pty Limited (formerly known as Asbestos Mines Pty Limited) (ACN
000 049 650),

	 	 	and any other entity agreed in writing by the Guarantor and each Creditor (or, in the case
of a syndicated facility, the facility agent).

	 	 	Excluded Tax means:

	 	(a)	 	a Tax imposed by any jurisdiction on or assessed against a Creditor as a
consequence of the Creditor being a resident of or organised in or doing business in
that jurisdiction, but not any Tax:

	 	 	 
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	 	(i)	 	that is calculated on or by reference to the gross amount
of a payment derived under a Transaction Document or another
document
referred to in a Transaction Document (without the allowance of a
deduction);

	 	(ii)	 	that is imposed as a result of the Creditor being
considered a resident or organised or doing business in that jurisdiction
solely as a result of it being a party to a Transaction Document or a
transaction contemplated by a Transaction Document; or

	 	(b)	 	in relation to any payment by an Obligor resident or incorporated in the
United States of America (“US Obligor”), any Tax payable by reason of the Creditor not
being in receipt of such payment through, or such payment not being attributable to, a
branch or lending office in the United States of America or by reason of the payment
not being considered effectively connected income of a trade or business conducted
within the United States of America by such branch or lending office (including,
without limitation, any withholding tax payable under the laws of the United States of
America in respect of interest due from a US Obligor under a Facility Agreement);
	 
	 	(c)	 	a Tax which would not be required to be deducted by an Obligor if, before the
Obligor makes a relevant payment, the relevant Creditor provided the Obligor with
written confirmation as to any of its name, address, registration number, country of
residence for tax purposes (including whether the relevant Creditor carries on a trade
or business in the Obligor’s country of residence and/or incorporation through a
branch or agency in connection with which the relevant Creditor receives the relevant
payment) or similar details or any relevant tax exemption or similar details; or
	 
	 	(d)	 	in relation to any payment by an Irish Obligor, any Tax imposed by Ireland by
reason of the Creditor to which the payment is made not being an Irish Qualifying
Creditor.

	 	 	Facility means any facility under a Facility Agreement.

	 	 	Facility Agreement means each agreement to which a Creditor (together with any other
persons) and a Borrower are party, which is nominated as a “Facility Agreement” in a
Facility Nomination Letter.

	 	 	Facility Nomination Letter means a letter substantially in the form set out in schedule 2
(“Facility Nomination Letter”) to this deed prior to amendment and restatement or in the
form set out in schedule 2 (“Facility Nomination Letter”) to this amended and restated
deed, in either case in favour of a person (not being a Group Member) providing financial
accommodation to a Borrower (or any agent or trustee on that person’s behalf).

	 	 	Financial Indebtedness means, with respect to any Group Member, without double counting:

	 	(a)	 	its liabilities for borrowed money (including all liabilities in respect of
letters of credit (excluding letters of credit and performance guarantees posted in
respect of payment of accounts payable arising in the ordinary

	 	 	 
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course of business) or instruments serving a similar function issued or accepted
for its account by banks and other financial institutions);

	 	(b)	 	its liabilities for the deferred purchase price (for more than 90 days) of
property acquired by such Group Member (excluding accounts payable arising in the
ordinary course of business);
	 
	 	(c)	 	its Capital Lease Obligations;
	 
	 	(d)	 	all Preferred Stock of Subsidiaries (excluding the Excluded Entities) of such
Group Member which is not owned by such Group Member or a Wholly Owned Subsidiary of
such Group Member; and
	 
	 	(e)	 	any Guarantee of such Group Member with respect to liabilities of a type
described in any of paragraphs (a) to (d) of this definition.

	 	 	Financial Year means each year ending on 31 March.

	 	 	Financier Nomination Letter means, in relation to a Creditor, the “Financier Nomination
Letter” (as that term is defined in the Intercreditor Deed) for that Creditor and one or
more Facility Agreements for that Creditor.

	 	 	Free Cash Flow has the meaning given to that term in the AFFA.

	 	 	Fund means Asbestos Injuries Compensation Fund Limited as trustee for the Asbestos
Injuries Compensation Fund.

	 	 	Fund Guarantee has the meaning given to it in the Guarantee Trust Deed.

	 	 	Funded Debt means, at any time, with respect to any Group Member (other than an Excluded
Entity), all drawn and outstanding Financial Indebtedness (other than Non-Recourse Debt)
of such Group Member owing to any person outside the Group (other than an Excluded Entity)
at that time.

	 	 	GAAP means generally accepted accounting principles as in effect from time to time in the
United States of America.

	 	 	Government Agency means any government or any governmental, semi-governmental,
administrative, fiscal or judicial body, department, commission, authority, tribunal,
agency or entity having jurisdiction over, or in relation to the affairs of, a Group
Member and, for the avoidance of doubt, includes, without limitation, the Australian
Taxation Office, the US Internal Revenue Service, the Dutch tax authorities and the Irish
Revenue Commissioners, in each case to the extent applicable.

	 	 	Group means the Guarantor and its Subsidiaries and Group Member means any one of them.

	 	 	Guarantee means any guarantee, suretyship, letter of credit, or any other obligation
(whatever called and of whatever nature):

	 	(a)	 	to provide funds (whether by the advance or payment of money, the purchase of
or subscription for shares or other securities, the purchase of assets or services, or
otherwise) for the payment or discharge of;

	 	 	 
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	 	(b)	 	to indemnify any person against the consequences of default in the payment
of; or
	 
	 	(c)	 	to be responsible for,

	 	 	any debt or monetary liability of another person or the assumption of any responsibility
or obligation in respect of the insolvency or the financial condition of any other person.

	 	 	Guarantee and Subordination Documents means:

	 	(a)	 	the Guarantee Trust Deed;
	 
	 	(b)	 	the Intercreditor Deed;
	 
	 	(c)	 	each Beneficiary Nomination Letter; and
	 
	 	(d)	 	each Financier Nomination Letter.

	 	 	Guarantee Trust Deed means the deed entitled “Guarantee Trust Deed” dated 19 December 2006
between the Guarantor and AET Structured Finance Services Pty Limited.

	 	 	Guarantor means the person so described in the Details.

	 	 	Guarantor Financial Reports means the non-public financial or equivalent reports prepared
in respect of the Guarantor (or separate reports prepared for each division of the
Guarantor) for the purpose of preparing consolidated financial statements of the Group,
the form and content of which is at the discretion of the Guarantor.

	 	 	Indirect Tax means any goods and services tax, consumption tax, value added tax or any tax
of a similar nature.

	 	 	Intercreditor Deed means the deed so entitled dated 19 December 2006 between the State of
New South Wales, the Guarantor, Asbestos Injuries Compensation Fund Limited in its
capacity as trustee for the Charitable Fund and AET Structured Finance Services Pty
Limited as amended by the letter dated 19 December 2006 between the same parties.

	 	 	Irish Obligor means an Obligor resident or incorporated in Ireland.

	 	 	Irish Qualifying Creditor means in respect of an Irish Obligor, a Creditor which at the
time the payment is made, is beneficially entitled to the interest payable to that
Creditor in respect of an advance under a Facility and is:

	 	(a)	 	an entity which is, pursuant to Section 9 of the Central Bank Act, 1971 of
Ireland, licensed to carry on banking business in Ireland and whose Facility office
is located in Ireland and which is recognised by the Revenue Commissioners of Ireland
as carrying on a bona fide banking business in Ireland for the purposes of Section
246(3)(a) of the Taxes Consolidation Act 1997 of Ireland (“TCA”) in circumstances
where the payments are made from Ireland and which is regarded by the Revenue
Commissioners of Ireland as having made the advance for the purposes of Section
246(3)(a) TCA;

	 	 	 
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	 	(b)	 	an authorised credit institution under the terms of the European Union
Consolidation Directive (Directive 2000/12/EC) that has duly established a branch in
Ireland or has made all necessary notifications to its home state competent
authorities required thereunder in relation to its intention to carry on banking
business in Ireland and which is
recognised by the Revenue Commissioners of Ireland
as carrying on a bona fide banking business in Ireland for the purposes of Section
246(3)(a) TCA and has its Facility office located in Ireland in circumstances where
the payments are made from Ireland and which is regarded by the Revenue Commissioners
of Ireland as having made the advance for the purposes of Section 246(3)(a) TCA;

	 	(c)	 	a company (within the meaning of Section 246(1) TCA) which is resident in a
country with which Ireland has a double taxation treaty or resident in a member state
of the European Communities (other than Ireland) where residence is determined under
the tax laws of the relevant country or Member State (together a “Relevant
Territory”), provided that such company does not provide its commitment through or in
connection with a branch or agency in Ireland, and where the company has provided
written confirmation of the foregoing to the Irish Obligor before the Irish Obligor
makes a relevant payment;
	 
	 	(d)	 	a US company, where such company has provided written confirmation to the
Irish Obligor that it is incorporated in the US and subject to tax in the US on its
worldwide income provided that such company does not provide its commitment through
or in connection with a branch or agency in Ireland; or
	 
	 	(e)	 	a Creditor which is entitled under a double taxation agreement between the
jurisdiction in which such Creditor is resident for Tax purposes and Ireland, subject
to the completion of any necessary procedural formalities, to receive all payments
from the Irish Obligor without a tax deduction, where such Creditor has applied for
and the relevant Irish Obligor has obtained authorisation from the Revenue
Commissioners of Ireland to make payments without deduction of Irish tax, and where
such authorisation remains in force and effect.

	 	 	Irish Registration Date means the date on which the Guarantor is registered by the
Registrar of Companies of Ireland as having its registered office in Ireland.

	 	 	JHBP Financial Reports means the non-public financial or equivalent reports prepared in
respect of JHBP (or separate reports prepared for each division of JHBP) for the purpose
of preparing consolidated financial statements of the Group, the form and content of which
is at the discretion of the Obligors.

	 	 	JHIFL Financial Report means the non-public financial or equivalent reports prepared in
respect of JHIFL for the purpose of preparing consolidated financial statements of the
Group, the form and content of which is at the discretion of the Obligors.

	 	 	JHT Undertaking means the deed poll dated on or about 25 September 2009 given by James
Hardie Technology Limited in favour of the Creditors.

	 	 	 
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	 	 	Majority Creditor means:

	 	(a)	 	in relation to a syndicated or capital markets facility, the Creditors who
form a “majority” (howsoever described) as defined under that Facility or all such
Creditors, to the extent so required under that facility; and

	 	(b)	 	in relation to a bilateral facility, the Creditor under that facility.

	 	 	Material Adverse Effect means a material adverse effect on:

	 	(a)	 	the ability of each Borrower to perform its obligations to pay Outstanding
Moneys when the same are due or within any applicable grace period;
	 
	 	(b)	 	the ability of the Guarantor to perform its obligations under the Guarantee
Trust Deed in favour of the Creditor when the same are due or within any applicable
grace period; or
	 
	 	(c)	 	the validity or enforceability of the Transaction Documents.

	 	 	Material Subsidiary means any Subsidiary of the Guarantor (other than an Excluded Entity)
whose total assets at the time of determination (consolidated in the case of a Subsidiary
which itself has one or more Subsidiaries) represent not less than 15% of Consolidated Net
Worth at that time.

	 	 	Net Interest Charges for a period means all interest and amounts in the nature of interest
or of similar effect to interest, paid or payable by the Group (excluding the Excluded
Entities), on a consolidated basis, less interest income received by or arising to the
Group (excluding the Excluded Entities), on a consolidated basis, in the same period for
which such Net Interest Charges are being determined, in each case by reference to the
financial statements referred to in clause 9.6. It excludes:

	 	(a)	 	any swap break or reset costs incurred and paid as part of any termination of
any hedging or facility;
	 
	 	(b)	 	any break costs, early redemption premium, make-whole payments, liquidated
damages or other penalties (howsoever described) incurred and paid in connection with
the prepayment of any facility;
	 
	 	(c)	 	capitalising interest under any agreement for the provision of Financial
Indebtedness to a Group Member which is in the nature of:

	 	(i)	 	a construction facility to fund capital expenditure to be
undertaken by a Group Member (but only while that capitalising interest is
not payable under the terms of that agreement); or
	 
	 	(ii)	 	a capital-indexed or zero coupon debt instrument which
contractually allows the capitalisation of interest;

	 	(d)	 	establishment, arrangement, underwriting and other fees payable once only on
the initial provision of financial accommodation; and
	 
	 	(e)	 	all interest and amounts in the nature of interest, and any other amounts of
the kind referred to in paragraphs (a) to (d) above, relating to:

	 	 	 
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	 	(i)	 	Subordinated Debt;
	 
	 	(ii)	 	hybrid capital;
	 
	 	(iii)	 	Non-Recourse Debt; or

	 	(iv)	 	a loan under which financial accommodation is provided
from one Group Member (not being an Excluded Entity) to another Group Member
(not being an Excluded Entity).

	 	 	New Borrower means a person who executes a New Borrower Deed Poll in accordance with
clause 14.1 (“New Borrowers”).

	 	 	New Borrower Deed Poll means each deed poll entered into by a New Borrower substantially
in the form set out in schedule 3 (“Form of New Borrower Deed Poll”).

	 	 	Non-Australian Obligor means an Obligor which is not resident or incorporated in
Australia.

	 	 	Non-Recourse Debt means any Project Debt if, and for so long as:

	 	(a)	 	the person to whom the Project Debt is owed does not have recourse (whether
by way of execution, set-off or otherwise) to a Group Member or its assets for the
payment or repayment of the Project Debt other than to assets which the Security
Interest (“Project Securities”) securing that Project Debt are permitted to extend to
under paragraph (h) of the definition of Permitted Security Interest (that person, and
any agent or trustee on that person’s behalf, being a “Non-Recourse Financier”);
	 
	 	(b)	 	the Non-Recourse Financier may not seek to wind up or place into
administration, or pursue or make a claim in the winding up or administration of, any
other Group Member to recover or to be repaid that Project Debt;
	 
	 	(c)	 	the Non-Recourse Financier cannot obtain specific performance or a similar
remedy with respect to any obligation of another Group Member to pay or repay that
Project Debt; and
	 
	 	(d)	 	the Non-Recourse Financier and any receiver, receiver and manager, agent or
attorney appointed under the Project Securities, may not incur a liability on behalf
of, or for the account of, a Group Member which liability itself is not subject to the
above paragraphs as if references to Project Debt in those paragraphs included that
liability.

	 	 	For the avoidance of doubt, if Project Debt is incurred or owed by a Group Member which is
not a Project Vehicle, then the tests in paragraphs (b) and (c) above must also be
satisfied in respect of that Group Member in order for the Project Debt to qualify as
Non-Recourse Debt.

	 	 	Obligor means:

	 	(a)	 	a Borrower; or
	 
	 	(b)	 	the Guarantor.

	 	 	 
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	 	 	Obligors’ Agent means JHIFL or another Borrower:

	 	(a)	 	appointed by all the Borrowers and the Guarantor as Obligors’ Agent;
	 
	 	(b)	 	which has accepted such appointment; and

	 	(c)	 	whose appointment has been notified to all Creditors.

	 	 	Outstanding Moneys means all debts and monetary liabilities of each Obligor to a Creditor
under or in relation to any Transaction Document and in any capacity, irrespective of
whether the debts or liabilities:

	 	(a)	 	are present or future;
	 
	 	(b)	 	are actual, prospective, contingent or otherwise;
	 
	 	(c)	 	are at any time ascertained or unascertained;
	 
	 	(d)	 	are owed or incurred by, or on account of, that Obligor alone or severally or
jointly with any other person;
	 
	 	(e)	 	are owed to or incurred for the account of that Creditor alone or severally
or jointly with any other person;
	 
	 	(f)	 	are owed or incurred as principal, interest, fees, charges, taxes, duties or
other imposts, damages (whether for breach of contract or tort or incurred on any
other ground), losses, costs or expenses, or on any other account; or
	 
	 	(g)	 	comprise any combination of the above.

	 	 	Permitted Disposal means:

	 	(a)	 	a disposal in the ordinary course of business;
	 
	 	(b)	 	a disposal of assets in exchange for other assets comparable or superior as
to type, value and quality;
	 
	 	(c)	 	a disposal of obsolete assets or assets no longer required for the purpose of
the relevant Group Member’s business or operations;
	 
	 	(d)	 	the payment of cash for any asset acquired in the ordinary course of
business;
	 
	 	(e)	 	the investment of funds which are not immediately required in the relevant
Group Member’s business in accordance with the Group’s established money market
treasury policies or the realisation of such investments;
	 
	 	(f)	 	the sale of assets for cash which is applied in or towards the purchase of
assets comparable or superior as to type, value and quality within 6 months or used to
reduce the Financial Indebtedness of any Obligor;
	 
	 	(g)	 	the application of the proceeds of an issue of securities (whether debt or
equity) for the purpose stated in the prospectus or other offering document relating
to that issue;

	 	 	 
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	 	(h)	 	a disposal comprised in or which occurs as part of any forward sale, stock
loan or repurchase transaction;
	 
	 	(i)	 	a disposal constituted by, or arising as a result of, any Permitted Security
Interest or any Permitted External Financial Indebtedness;
	 	(j)	 	a disposal by a Group Member to another Group Member;
	 
	 	(k)	 	all other disposals where the aggregate net proceeds of such other disposals
in any 12 month period does not exceed 10% of total assets as shown in the balance
sheet on the most recent Reporting Date; and
	 
	 	(l)	 	a disposal not falling within paragraphs (a) to (k) above which has the prior
written consent of each Majority Creditor (or in the case of a syndicated facility, an
agent or trustee acting on the instructions of the relevant Majority Creditor).

	 	 	Permitted External Financial Indebtedness means Financial Indebtedness of a Group Member
(other than an Obligor or an Excluded Entity) owing to any person outside the Group under
or in connection with:

	 	(a)	 	a working capital facility;
	 
	 	(b)	 	a transactional banking facility;
	 
	 	(c)	 	a Capital Lease;
	 
	 	(d)	 	Non-Recourse Debt;
	 
	 	(e)	 	a “soft loan” or other form of financial accommodation given to a Group
Member by a Government Agency in connection with capital works or expansion plans
undertaken by that Group Member or any other Group Member; or
	 
	 	(f)	 	any financial accommodation which, in the opinion of the Guarantor, it is
preferable for the relevant Group Member to raise from external sources (rather than
by an intra-Group borrowing) for reasons based on economic advantage, administrative
convenience and/or legal, structural, political and/or tax considerations.

	 	 	Permitted Security Interest means:

	 	(a)	 	a Security Interest created by operation of law or otherwise to secure taxes,
assessments or other governmental charges which are not more than 90 days overdue or
are being contested in good faith;
	 
	 	(b)	 	a Security Interest which a Group Member is required to create by any
applicable law or is required or considers it necessary or expedient to create in
order to obtain, maintain or renew any Authorisation;
	 
	 	(c)	 	a Security Interest created by operation of law or otherwise in favour of a
landlord, carrier, warehouseman, mechanic, materialman or other supplier (including
rights by way of reservation or retention of title to property) or other similar
Security Interest, in each case, incurred in the ordinary course of business for sums
which are not more than 90 days overdue or are being contested in good faith;

	 	 	 
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	 	(d)	 	a Security Interest incurred, or deposits made, in the ordinary course of
business:

	 	(i)	 	in connection with workers’ compensation, unemployment
insurance and other types of social security, employment or retirement
benefits; or
	 
	 	(ii)	 	to secure (or to obtain letters of credit that secure)
the performance of tenders, statutory obligations, surety bonds, appeal
bonds, bids, leases (other than Capital Leases), performance bonds,
purchase, construction or sales contracts and other similar obligations,

	 	 	 	in each case not incurred or made:

	 	(A)	 	in connection with the borrowing of
money, the obtaining of advances or credit or payment of the
deferred purchase price of property; nor
	 
	 	(B)	 	to secure obligations due under the
AFFA or any Related Agreement (as defined in the AFFA);

	 	(e)	 	a Security Interest in respect of a judgment debt of a Group Member, provided
that the judgment is discharged or execution of it is stayed (permanently or pending
appeal) within 90 days of entry thereof or adequate reserves have been provided for
it;
	 
	 	(f)	 	leases or subleases granted to others, easements, rights-of-way, restrictions
and other similar charges or encumbrances, in each case incidental to, and not
interfering with, the ordinary conduct of the business of the Group;
	 
	 	(g)	 	a Security Interest on property or assets of a Group Member (not being an
Excluded Entity) securing Financial Indebtedness owing to another Group Member (not
being an Excluded Entity);
	 
	 	(h)	 	a Security Interest existing or created under or in respect of Non-Recourse
Debt facilities where the party holding any such Security Interest has security over
Project Property or Project Vehicles only but no right of recourse to an Obligor or
any Obligor’s other assets;
	 
	 	(i)	 	a Security Interest created on any asset or group of associated assets
acquired by a Group Member or developed by a Group Member after 15 June 2005:

	 	(i)	 	for the sole purpose of financing or refinancing that
acquisition or development; and
	 
	 	(ii)	 	securing principal moneys not exceeding one hundred per
cent (100%) of the cost of that acquisition or development;

	 	(j)	 	a Security Interest existing at the time of acquisition on any asset acquired
by a Group Member after 15 June 2005 and not created in contemplation of the
acquisition, provided that there is no increase in the amount of the principal moneys
secured by that Security Interest;

	 	 	 
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	 	(k)	 	a Security Interest existing on property of a person immediately prior to its
being consolidated with or merged into a Group Member or its becoming a Group Member
(by becoming a Subsidiary of the Guarantor),
provided that the Security Interest was
not created in contemplation of the consolidation, merger or acquisition and there is
no increase in the amount of the principal moneys secured by that Security Interest;

	 	(l)	 	any Security Interest existing at 15 June 2005 provided there is no increase
in the amount of the principal moneys secured by that Security Interest;
	 
	 	(m)	 	a Security Interest replacing, renewing, extending or refunding any Security
Interest permitted by paragraph (i), (j), (k), (l) or (m), provided that:

	 	(i)	 	the principal moneys secured by such Security Interest
immediately prior to such replacement, renewal, extension or refunding is
not increased or the maturity thereof reduced; and
	 
	 	(ii)	 	the Security Interest is not extended to any other
property;

	 	(n)	 	a Security Interest created with the prior written consent of each Majority
Creditor (or in the case of a syndicated facility, an agent or trustee acting on the
instructions of the relevant Majority Creditor);
	 
	 	(o)	 	a Security Interest created by a Group Member over its interest in a joint
venture to secure:

	 	(i)	 	its obligations under the joint venture to any other
party to the joint venture; or
	 
	 	(ii)	 	its obligations, or the obligations of the joint venture,
or the obligations of any entity formed for the purpose of the joint
venture, under any agreement (including an agreement relating to financial
accommodation) entered into for the purposes of the joint venture; or

	 	(p)	 	any Security Interest created pursuant to the general conditions of a bank
operating in the Netherlands based on the general conditions drawn up by the
Netherlands Bankers’ Association (Nederlandse Vereniging van Banken) and the Consumers
Union (Consumentenbond),

	 	 	provided the aggregate amount of Financial Indebtedness of the Group (excluding
intra-Group transactions and Financial Indebtedness of the Excluded Entities) secured by
all such Permitted Security Interests granted in favour of persons outside the Group may
not exceed 10% of the total assets of the Group (excluding the Excluded Entities) at any
time.

	 	 	Potential Event of Default means an event or condition the occurrence or existence of
which would, with the lapse of time or the giving of notice or both, become an Event of
Default.

	 	 	Preferred Stock means any class of capital stock of a corporation that is preferred over
any other class of capital stock of such corporation as to 

	 	 	 
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	 	 	payment
of dividends or the payment of any amount upon liquidation or dissolution of the
corporation.

	 
	 	 	Previous Deeds has the meaning given to it in the Recitals to this amended and restated
deed.

	 	 	Project Activity means the acquisition, development, construction, extension, expansion or
improvement of any asset.

	 	 	Project Debt means with respect to a project or development:

	 	(a)	 	Financial Indebtedness in relation to the acquisition and/or cost of Project
Activities;
	 
	 	(b)	 	Financial Indebtedness incurred before or at the time of carrying out Project
Activities solely for the purpose of financing or refinancing the acquisition and/or
cost of the Project Activities;
	 
	 	(c)	 	any Financial Indebtedness incurred solely to refinance any Financial
Indebtedness referred to above or incurred under any successive refinancing;
	 
	 	(d)	 	any liabilities under hedging transactions entered into in connection with
any Financial Indebtedness referred to above or any Project Activity;
	 
	 	(e)	 	interest or amounts in the nature of interest, charges, fees, costs of any
nature (including break costs or costs arising from changes in law), duties, expenses,
currency indemnities, withholding taxes, indirect taxes and other similar indebtedness
(however described) which, in any case, is or are incurred or payable in connection
with any of the above; or
	 
	 	(f)	 	any guarantee or indemnity securing payment or repayment of any of the above
amounts (but not any other Financial Indebtedness),

	 	 	but does not include any Financial Indebtedness which is used to refinance any assets
owned by an Obligor as at 15 June 2005.

	 	 	Project Property means a Group Member’s assets used or predominantly used in, or generated
by, any Project Activities for a project or development including:

	 	(a)	 	assets forming part of or connected with or derived from that project or
development; and
	 
	 	(b)	 	proceeds derived from other Project Property relating to that project or
development.

	 	 	Project Vehicle means an entity, which is established for the purposes of, and confines
its business operations solely to, owning or producing Project Property, carrying out
Project Activities and incurring Project Debt.

	 	 	Related Entity has the meaning given in the Corporations Act.

	 	 	Release Request means a letter in the form of schedule 4 (“Form of Release Request”).

	 	 	 
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	 	 	Relevant Entity means an Obligor or a Material Subsidiary.

	 	 	Reporting Date means each 31 March, 30 June, 30 September and 31 December in any year.

	 	 	Security Interest means any mortgage, pledge, lien or charge or any security or
preferential interest or arrangement of any kind or any other right of, or
arrangement
with, any creditor to have its claims satisfied in priority to other creditors with, or
from the proceeds of, any asset. This definition:

	 	(a)	 	includes any retention of title agreements arising other than in the ordinary
course of business; and
	 
	 	(b)	 	excludes any right of set-off, right to combine accounts, or other similar
right or arrangement arising in the ordinary course of business or by operation of
law.

	 	 	Subordinated Debt means any Financial Indebtedness of any Group Member (other than an
Excluded Entity) which is subordinated to the Facilities on terms which each Creditor (or
under a syndicated facility, an agent or trustee acting on the instructions of the
Majority Creditor) has confirmed are acceptable to it (such confirmation not to be
unreasonably withheld or delayed).

	 	 	Subsidiary in relation to a corporation means a subsidiary of the corporation for the
purposes of the Corporations Act.

	 	 	Tax means any present or future tax (including Indirect Taxes), levy, impost, duty,
charge, fee, deduction, compulsory loan or withholding or any income, stamp or transaction
duty, tax or charge, in the nature of tax whatsoever called (except if imposed on, or
calculated having regard to, the net income of a Creditor) and whether imposed, levied,
collected, withheld or assessed by any Government Agency and includes, but is not limited
to, any penalty, fine, charge, fee, interest or other amount payable in connection with
failure to pay or delay in paying the same.

	 	 	Termination Date in respect to a Facility Agreement, means the termination date, maturity
date, final repayment date, final redemption date or other final payment date (howsoever
described) of a Facility as defined in the relevant Facility Agreement.

	 	 	Transaction Document means each of:

	 	(a)	 	this amended and restated deed;
	 
	 	(b)	 	each Facility Agreement;
	 
	 	(c)	 	each Facility Nomination Letter;
	 
	 	(d)	 	each New Borrower Deed Poll;
	 
	 	(e)	 	each Deed of Release;
	 
	 	(f)	 	the Guarantee and Subordination Documents;
	 
	 	(g)	 	the JHT Undertaking;

	 	 	 
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	 	(h)	 	any other document agreed to be a Transaction Document by the Guarantor and a
Creditor; and
	 
	 	(i)	 	any document entered into for the purpose of amending or novating any of the
above.

	 	 	US$, USD or US Dollars means the lawful currency of the United States of America.

	 	 	Wholly Owned Subsidiary has the meaning given in section 9 of the Corporations Act.

	1.2	 	References to certain general terms

	 	 	Unless the contrary intention appears, a reference in a Transaction Document to:

	 	(a)	 	a group of persons is a reference to any two or more of them jointly and to
each of them individually;
	 
	 	(b)	 	an agreement, representation or warranty in favour of two or more persons is
for the benefit of them jointly and each of them individually;
	 
	 	(c)	 	an agreement, representation or warranty by two or more persons binds them
individually only;
	 
	 	(d)	 	anything (including an amount) is a reference to the whole and each part of
it (but nothing in this clause 1.2(d) implies that performance of part of an
obligation constitutes performance of the obligation);
	 
	 	(e)	 	a document (including this amended and restated deed) includes any variation,
supplement to, novation or replacement of it;
	 
	 	(f)	 	law includes (without limitation) common law, principles of equity, and laws
made by any legislative body of any jurisdiction (and references to any statute,
regulation or by-law include any modification or re-enactment of or any provision
substituted for, and all statutory and subordinate instruments issued under such
statute, regulation or by-law or such provision);
	 
	 	(g)	 	an accounting term is a reference to that term as it is used in GAAP;
	 
	 	(h)	 	the word “person” includes an individual, a firm, a body corporate, a
partnership, a joint venture, an unincorporated association and any Government Agency;
	 
	 	(i)	 	a particular person includes a reference to the person’s executors,
administrators, successors, substitutes (including persons taking by novation) and
assigns;
	 
	 	(j)	 	the words “including”, “for example” or “such as” when introducing an
example, do not limit the meaning of the words to which the example relates to that
example or examples of a similar kind;
	 
	 	(k)	 	other parts of speech and grammatical forms of a word or phrase defined in
this amended and restated deed have a corresponding meaning;

	 	 	 
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	 	(l)	 	an agreement includes an undertaking, deed, agreement or legally enforceable
arrangement or understanding whether or not in writing;
	 
	 	(m)	 	a reference to a document includes any agreement in writing, or any
certificate, notice, instrument or other document of any kind;
	 
	 	(n)	 	a reference to a body, other than a party to, or a beneficiary of, a
Transaction Document (including an institute, association or authority) whether
statutory or not:

	 	(i)	 	that ceases to exist; or
	 
	 	(ii)	 	whose powers or functions are transferred to another
body,

	 	 	 	is a reference to the body that replaces it or any body that substantially
succeeds to its powers or functions;
	 
	 	(o)	 	“continuing” or “subsisting”, in relation to an Event of Default or Potential
Event of Default, means an Event of Default or Potential Event of Default (as the case
may be) that has not been waived in writing or remedied.

	1.3	 	Numbers
	 
	 	 	In a Transaction Document, the singular includes the plural and vice versa.
	 
	1.4	 	Headings
	 
	 	 	In a Transaction Document, headings (including those in brackets at the beginning of
paragraphs) are for convenience only and do not affect the interpretation of the
Transaction Document.
	 
	1.5	 	Conflict

	 	(a)	 	Subject to paragraph (b), even if any other Transaction Document is not
expressly made subject to this amended and restated deed and despite the time and date
of its execution, where a conflict arises between the provisions of this amended and
restated deed and any other Transaction Document, the provisions of this amended and
restated deed shall prevail unless the relevant provision in the other Transaction
Document includes words substantially to the effect of “Despite the terms of the
Common Terms Deed Poll”.
	 
	 	(b)	 	Where a conflict arises between the provisions of this amended and restated
deed on the one hand and the Guarantee and Subordination Documents on the other hand,
the provisions of the Guarantee and Subordination Documents shall prevail to the
extent of the inconsistency.

	1.6	 	Shareholder ratification
	 
	 	 	Each Obligor which is a shareholder of another company (a “Relevant Company”) which is, or
is to become, an Obligor, ratifies and approves in its capacity as a shareholder of that
Relevant Company, the execution and performance by each such Relevant Company of each
Transaction Document to which it is a party.

	 	 	 
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	1.7	 	Borrowers severally liable only
	 
	 	 	Notwithstanding any other provision of this or any other Transaction Document, no Borrower
is liable under the Transaction Documents for any obligation of another Borrower
(including, without limitation, any obligation to indemnify a Creditor).

	 	 	 
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Part 1 Creditors and Facilities

	2	 	Creditors and Facilities
	 
	2.1	 	Creditors and Facilities
	 
	 	 	This amended and restated deed is for the benefit of, and is enforceable by, each Creditor
from time to time even though it is not a party to, or is not in existence at the time of
execution and delivery of this amended and restated deed, in relation to the Facility
under which that Creditor is entitled and each Transaction Document under which that
Creditor has benefits or obligations.
	 
	 	 	The benefit and obligations of this amended and restated deed may be extended to any other
person (and such person shall become a Creditor) in relation to any other document (and
such document shall become a Facility Agreement), by the Obligors’ Agent signing and
delivering to that Creditor (or, in the case of a syndicated facility, the facility agent)
a Facility Nomination Letter and the Creditor countersigning such Facility Nomination
Letter.
	 
	 	 	Each Obligor irrevocably authorises the Obligors’ Agent to sign and deliver any Facility
Nomination Letter and acknowledges and confirms that the provisions of this amended and
restated deed which are for the benefit of the Creditors will extend to the Facility
Agreement so nominated in that Facility Nomination Letter.
	 
	2.2	 	Removal of benefit for particular Creditor
	 
	 	 	This amended and restated deed ceases to be for the benefit of, and enforceable by, a
Creditor if at any time:

	 	(a)	 	all Outstanding Moneys owing to that Creditor have been fully and finally
paid;
	 
	 	(b)	 	that Creditor is not committed to providing further financial accommodation
to a Borrower pursuant to any Facility; and
	 
	 	(c)	 	this is confirmed in writing by the Creditor. If requested by an Obligor, a
Creditor will promptly confirm in writing that this amended and restated deed has
ceased to be for the benefit of, and enforceable by, that Creditor.

	 	 	 
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Part 2 Standard terms — all Facilities

	3	 	Conditions precedent
	 
	3.1	 	Conditions to first drawdown
	 
	 	 	A Creditor’s obligation to make available the first drawdown under a Facility Agreement
entered into on the same date as, or after, the amendment and restatement of this amended
and restated deed is subject to the following conditions precedent:

	 	(a)	 	the Creditor (or, in the case of a syndicated facility, the facility agent)
has received each of the following items in form and substance satisfactory to the
Creditor or the facility agent (as the case may be):

	 	(i)	 	(verification certificate) a certificate in relation to
each Obligor given by a director of the relevant Obligor substantially in
the form of schedule 1 (“Verification Certificate”) with the attachments
referred to therein;
	 
	 	(ii)	 	(legal opinions) closing legal opinions in respect of
this amended and restated deed, the Facility Agreement and the Guarantee and
Subordination Documents from:

	 	(A)	 	prior to the Irish Registration Date,
Loyens & Loeff N.V., Netherlands legal advisers to the Guarantor;
	 
	 	(B)	 	after the Irish Registration Date,
Arthur Cox, Irish legal advisers to the Guarantor;
	 
	 	(C)	 	Arthur Cox, Irish legal advisers to
JHIFL;
	 
	 	(D)	 	McDonald Carano & Wilson, United States
of America legal advisers to JHBP;
	 
	 	(E)	 	Mallesons Stephen Jaques, Australian
legal advisers to the Obligors; and
	 
	 	(F)	 	if a new Borrower is party to a
Facility Agreement, legal advisers to the new Borrower of
recognised standing and acceptable to the Creditor;

	 	(iii)	 	(executed documents) to the extent not previously
provided to the Creditor under this amended and restated deed:

	 	(A)	 	an original counterpart
or certified copy of this amended and restated deed;
	 
	 	(B)	 	original counterparts
of the Facility Agreement; and
	 
	 	(C)	 	a Facility Nomination
Letter, if required by the Facility Agreement;

	 	 	 
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	 	(D)	 	certified copy of the
Guarantee Trust Deed;
	 
	 	(E)	 	a Beneficiary
Nomination Letter, if required by the Facility Agreement;
	 
	 	(F)	 	a certified copy of the
Intercreditor Deed; and
	 
	 	(G)	 	a Financier Nomination
Letter, if required by the Facility Agreement,

	 	 	 	executed by all relevant Obligors; and
	 
	 	(iv)	 	(fees) evidence of instructions issued by the Obligors’
Agent to pay all fees and expenses which are due under the Facility
Agreement on or before the first drawdown; and

	 	(b)	 	(know your customer) if, in relation to the relevant Facility, a Creditor
is required to comply with any know your customer checks and the information necessary
is not already available to it and to the extent not previously provided to the
Creditor under this amended and restated deed or under any other agreement, such
documentation and other evidence as is reasonably requested to enable the Creditor to
so comply, each in form and substance satisfactory to the Creditor (acting
reasonably);
	 
	 	(c)	 	(representations true) the representations and warranties by each Obligor in
clause 8.1 of this amended and restated deed are true as at the date of the first
drawdown notice and on the date of the first drawdown; and
	 
	 	(d)	 	(no default) no Event of Default or Potential Event of Default subsists at
the date of the first drawdown notice or on the date of the first drawdown or will
result from the provision of the requested financial accommodation.

	3.2	 	Conditions to subsequent drawdowns
	 
	 	 	The Creditor need not provide any financial accommodation subsequent to the first drawdown
under a Facility Agreement unless:

	 	(a)	 	(representations true) the representations and warranties by each Obligor in
clause 8.1 of this amended and restated deed (other than clause 8.1(d)(ii)) are true
as at the date of the drawdown notice and on the drawdown date, as though they had
been made at that date in respect of the facts and circumstances then subsisting; and
	 
	 	(b)	 	(no default) no Event of Default or Potential Event of Default subsists at
the date of the drawdown notice or on the drawdown date or will result from the
provision of the requested financial accommodation.

	4	 	Payments
	 
	4.1	 	Manner of payment
	 
	 	 	Each Obligor agrees to make payments (including by way of reimbursement) under each
Transaction Document:

	 	 	 
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	 	(a)	 	on the due date (or, if that is not a Business Day, on the next Business Day
unless that day falls in the following month or after the Termination Date for the
relevant Facility, in which case, on the previous Business Day);
	 
	 	(b)	 	at the time which is customary at the time for settlement of transactions in
the relevant currency in the place for payment (if any) specified in the relevant
Facility Agreement;
	 
	 	(c)	 	in the Due Currency in immediately available funds;
	 
	 	(d)	 	in full without set-off or counterclaim, and without any deduction in respect
of Taxes unless prohibited by law; and
	 
	 	(e)	 	to the applicable Creditor (or, in the case of a Creditor under a syndicated
facility, the facility agent on its behalf) by making payment to the account nominated
by the Creditor or by payment as the Creditor otherwise directs.

	 	 	If a Creditor directs an Obligor to pay a particular party or in a particular manner, the
Obligor is taken to have satisfied its obligation to the Creditor by paying in accordance
with the direction.
	 
	 	 	An Obligor satisfies a payment obligation only when the Creditor (or, in the case of a
Creditor under a syndicated facility, the facility agent on its behalf) or the person to
whom it has directed payment actually receives the amount.
	 
	4.2	 	Currency of payment
	 
	 	 	Each Obligor waives any right it has in any jurisdiction to pay an amount other than in
Due Currency. However, if a Creditor receives an amount in a currency other than the Due
Currency:

	 	(a)	 	it may convert the amount received into the Due Currency (even though it may
be necessary to convert through a third currency to do so) on the day and at such
rates (including spot rate, same day value rate or value tomorrow rate) as it
reasonably considers appropriate. It may deduct its usual Costs in connection with
the conversion; and
	 
	 	(b)	 	the Obligor satisfies its obligation to pay in the Due Currency only to the
extent of the amount of the Due Currency obtained from the conversion after deducting
the Costs of the conversion. Any surplus amount will be paid promptly by that
Creditor to the relevant Obligor.

	5	 	Withholding tax
	 
	5.1	 	Payments by Obligor
	 
	 	 	If a law requires an Obligor to deduct or withhold an amount in respect of Taxes (other
than Indirect Taxes) in respect of a payment under any Transaction Document such that a
Creditor (“Indemnified Party”) would not actually receive on the due date the full amount
provided for under the Transaction Document, then:

	 	 	 
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	 	(a)	 	the Obligor agrees to deduct the amount for such Taxes and any further
deduction applicable to any further payment due under paragraph (c) below;
	 
	 	(b)	 	the Obligor agrees to pay an amount equal to the amount deducted or withheld
to the relevant authority in accordance with applicable law; and
	 
	 	(c)	 	unless the Tax is an Excluded Tax, the amount payable is increased so that,
after making the deduction or withholding and further deductions or withholdings
applicable to additional amounts payable under this clause 5.1(c), the Indemnified
Party is entitled to receive (at the time the payment is due) the amount it would have
received if no deductions or withholdings had been required.

	5.2	 	Payments by a facility agent to Creditors
	 
	 	 	If a law requires a facility agent under a syndicated facility to deduct or withhold an
amount in respect of Taxes (other than Indirect Taxes) in respect of a payment by the
facility agent to a Creditor under a syndicated facility such that the Creditor would not
actually receive on the due date the full amount provided for under the syndicated
facility, then:

	 	(a)	 	the facility agent must deduct or withhold the amount for such Taxes and any
further deduction or withholding applicable to any further payment due under
paragraph (c) below;
	 
	 	(b)	 	the facility agent must pay an amount equal to the amount deducted or
withheld to the relevant authority in accordance with applicable law and promptly give
the original receipts to the relevant Borrower;
	 
	 	(c)	 	unless the Tax is an Excluded Tax, the amount payable is increased so that,
after making the deduction or withholding and further deductions or withholdings
applicable to additional amounts payable under this clause 5.2(c), the Creditor is
entitled to receive (at the time the payment is due) the amount it would have received
if no deductions or withholdings had been required; and
	 
	 	(d)	 	unless the Tax is an Excluded Tax, the relevant Borrower must pay to the
facility agent an amount equal to any deduction or withholding which the facility
agent is required to make under this clause 5.2.

	5.3	 	Tax credit
	 
	 	 	If and to the extent that any Creditor is able in its opinion to apply for or otherwise
take advantage of any offsetting tax credit, tax rebate or other similar tax benefit out
of or in conjunction with any deduction or withholding which gives rise to an obligation
on any Obligor to pay any additional amount pursuant to clause 5.1 or 5.2(d), that
Creditor shall:

	 	(a)	 	give notice thereof to the Obligors’ Agent and take steps to obtain that
credit, rebate or benefit; and
	 
	 	(b)	 	to the extent that in its opinion it can do so without prejudice to the
retention of the credit, rebate or benefit, and upon receipt thereof, reimburse to the
Obligor such amount of the credit, rebate or benefit as

	 	 	 
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	 	 	 	that Creditor shall, in its opinion (acting reasonably), have determined to be
attributable to the deduction or withholding. In complying with this clause, no
Creditor need disclose to any Obligor information about their tax affairs or order
them in a particular way.

	5.4	 	Early repayment or redemption
	 
	 	 	Without limiting the other provisions of this clause 5, if a Borrower is required to pay
any amount to a Creditor or facility agent under a syndicated facility under this
clause 5, that Borrower may elect to repay or redeem early all of that Creditor’s
outstandings under the applicable Facility which is affected by the event or events
referred to in clause 5.1 or 5.2.

	6	 	Increased costs
	 
	6.1	 	Compensation
	 
	 	 	The relevant Borrower agrees to compensate a Creditor on 30 days written notice if the
Creditor determines that:

	 	(a)	 	a Directive, or change in Directive, in either case applying for the first
time after the date of the relevant Facility Agreement;
	 
	 	(b)	 	a change in a Directive’s interpretation or administration by an authority
after the date of the relevant Facility Agreement; or
	 
	 	(c)	 	compliance by the Creditor or any of its Related Entities with any such
Directive, changed Directive or changed interpretation or administration,

	 	 	directly or indirectly:

	 	(i)	 	increases the effective cost to that Creditor of making,
funding or maintaining the relevant Facility or its proportion of the
Facility; or
	 
	 	(ii)	 	reduces any amount paid or payable to, or received or
receivable by, that Creditor or the effective return to that Creditor in
connection with the relevant Facility.

	 	 	In this clause 6.1, a reference to a Directive does not include a Directive imposing or
changing the basis of a Tax on the overall net income of the Creditor.

	 	 	Compensation need not be in the form of a lump sum and may be demanded as a series of
payments.

	 	 	A notice under this clause may not claim compensation for an increase or reduction
suffered more than 180 days before the date of the notice, except to the extent that the
event or circumstance giving rise to the increased cost or reduction is that a Directive
is applied retrospectively and the notice was given by the Creditor no later than 120 days
after it became aware of that event or circumstance and was able to quantify the amount
for which it is entitled to be compensated under this clause 6.1.

	 	 	 
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	 	 	Any demand under this clause 6.1 is to be made to the Obligors’ Agent by the Creditor
(except in the case of a Creditor under a syndicated facility, in which case demand must
be made by the facility agent).
	 
	6.2	 	Substantiating costs
	 
	 	 	If a Creditor (or a facility agent on its behalf) makes a demand under clause 6.1
(“Compensation”), it must provide the relevant Borrower with reasonably detailed
calculations showing how the amount demanded has been ascertained. However, nothing in
this clause 6.2 obliges the Creditor to provide details of its business or tax affairs
which it considers in good faith to be confidential.
	 
	6.3	 	Procedure for claim

	 	(a)	 	In the absence of manifest error, and subject to clause 6.2 (“Substantiating
costs”), a certificate by a Creditor is sufficient evidence of the amount of the
compensation payable by the relevant Borrower to the Creditor under clause 6.1
(“Compensation”).
	 
	 	(b)	 	In determining the amount of the compensation payable under clause 6.1
(“Compensation”), the Creditor may use averaging and attribution methods commonly used
by the Creditor or any other method it reasonably considers appropriate to determine
the amount.

	6.4	 	Possible minimisation

	 	(a)	 	The Creditor agrees:

	 	(i)	 	to use reasonable endeavours to mitigate the effects of
those events or circumstances giving rise to the increased cost or reduction
in any payment or return for which the Creditor (or a facility agent on its
behalf) claims compensation under clause 6.1 (“Compensation”); and
	 
	 	(ii)	 	at the request of the Obligors’ Agent, to consider the
transfer or assignment of its rights and obligations under this amended and
restated deed and the other relevant Transaction Documents to which it is a
party to another bank or financial institution at par.

	 	(b)	 	Subject to clause 6.4(a)(i), the relevant Borrower agrees to compensate the
Creditor whether or not the increase or the reduction could have been avoided.

	7	 	Illegality
	 
	7.1	 	Creditor’s right to suspend or cancel
	 
	 	 	This clause 7 applies if a Creditor determines in good faith that:

	 	(a)	 	a change in a Directive;
	 
	 	(b)	 	a change in the interpretation or administration of a Directive by an
authority; or
	 
	 	(c)	 	a Directive,

	 	 	 
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	 	 	makes it (or will make it) illegal in practice for the Creditor to fund, provide, or
continue to fund or provide, financial accommodation under any Transaction Document. In
these circumstances, the Creditor by giving a notice to the
Obligors’ Agent, may suspend
or cancel some or all of the Creditor’s obligations under the relevant Transaction
Document as indicated in the notice.
	 
	7.2	 	Extent and duration
	 
	 	 	The suspension or cancellation:

	 	(a)	 	must apply only to the extent necessary to avoid the illegality; and
	 
	 	(b)	 	in the case of suspension, may continue only for so long as the illegality
continues.

	7.3	 	Notice requiring early repayment or redemption
	 
	 	 	If the illegality relates to an amount outstanding to a Creditor, the Creditor (or, in the
case of a syndicated facility, the facility agent), by giving a notice to the Obligors’
Agent, may require early repayment or redemption of all or part of the affected
outstandings and interest accrued on that part. The relevant Borrower in respect of which
the Creditor has made a determination under clause 7.1 agrees to repay or redeem the
amount specified no later than the date the illegality arises.
	 
	7.4	 	Creditor to seek alternative funding method
	 
	 	 	The affected Creditor (at no cost to an Obligor) during the period of 90 days after the
notice pursuant to clause 7.1 agrees to use reasonable endeavours to make that part of the
facility affected by the illegality available by alternative means (including changing its
lending office to another then existing lending office or making the financial
accommodation available through a Related Entity of the Creditor).
	 
	8	 	Representations and warranties
	 
	8.1	 	Representations and warranties
	 
	 	 	Each Obligor (but in the case of a Borrower only from the date that it becomes a Borrower)
represents and warrants (except in relation to matters disclosed to the Creditors and
accepted in writing by the Creditors) that:

	 	(a)	 	(status) it is a corporation duly incorporated and validly existing under the
laws of its place of incorporation;
	 
	 	(b)	 	(corporate authorisation, documents binding) each Transaction Document to
which it is a party has been duly authorized by all necessary corporate action on the
part of the Obligor and constitutes a legal, valid and binding obligation of the
Obligor enforceable against the Obligor in accordance with its terms, except as such
enforceability may be limited by:

	 	(i)	 	applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting the enforcement of creditors’
rights generally; and

	 	 	 
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	 	(ii)	 	general principles of law (regardless of whether such
enforceability is considered in a proceeding in equity or at law);

	 	(c)	 	(compliance with laws) the execution, delivery and performance of the
Transaction Documents to which it is a party will not:

	 	(i)	 	contravene its constitution;
	 
	 	(ii)	 	result in the creation of any Security Interest (other
than any Permitted Security Interest) in respect of any property of the
Obligor or any of its Subsidiaries (excluding the Excluded Entities);
	 
	 	(iii)	 	contravene in any material respect any law to which the
Obligor or any of its Subsidiaries (excluding the Excluded Entities) is
subject or by which the Obligor or any of its Subsidiaries (excluding the
Excluded Entities) or any of their respective properties may be bound;
	 
	 	(iv)	 	conflict with or result in a breach in any material
respect of any of the terms, conditions or provisions of any order,
judgment, decree, or ruling of any court, arbitrator or Government Agency
applicable to the Obligor or any of its Subsidiaries (excluding the Excluded
Entities); and
	 
	 	(v)	 	result in the acceleration or cancellation of any
agreement or obligation in respect of Financial Indebtedness of any Group
Member (excluding the Excluded Entities);

	 	(d)	 	(disclosure)

	 	(i)	 	all information given to the Creditors by it or with its
authority was, when given, true and correct in all material respects; and
	 
	 	(ii)	 	the most recent Form 20-F filed by the Guarantor with the
United States Securities and Exchange Commission was prepared and filed in
accordance with the applicable requirements of US securities laws;

	 	(e)	 	(Group financial statements)

	 	(i)	 	the most recent financial statements of the Group
(including in each case the related schedules and notes) fairly present in
all material respects the consolidated financial position of the Group as at
the end of the financial period to which they relate and have been prepared
in accordance with GAAP consistently applied throughout the periods
involved, except as set forth in the notes thereto (subject, in the case of
an interim financial statements, to normal year-end adjustments); and
	 
	 	(ii)	 	since the date of delivery of those statements, there has
been no change in the financial condition, operations, business or prospects
of the Group (excluding the Excluded Entities), except changes that
individually or in the aggregate do not or are not likely to have a Material
Adverse Effect;

	 	 	 
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	 	(f)	 	(Borrower financial statements)

	 	(i)	 	for so long as JHIFL is an Obligor:

	 	(A)	 	the most recent financial statements of
JHIFL provided in accordance with clause 9.6(c)(i)(C) (including in
each case the related schedules and notes) fairly present in all
material respects the consolidated financial position of JHIFL as
at the end of the financial period to which they relate and have
been prepared in accordance with generally accepted accounting
principles as in effect from time to time in the Republic of
Ireland consistently applied throughout the periods involved,
except as set forth in the notes thereto (subject, in the case of
an interim financial statements, to normal year-end adjustments);
and
	 
	 	(B)	 	since the date of delivery of those
statements, there has been no change in the financial condition,
operations, business or prospects of JHIFL, except changes that
individually or in the aggregate do not or are not likely to have a
Material Adverse Effect;

	 	(g)	 	(Authorisations) all Authorisations necessary in connection with the
execution, delivery or performance by the Obligor of the Transaction Documents to
which it is a party have been obtained and are in full force and effect;
	 
	 	(h)	 	(litigation) except as disclosed in the most recent financial statements of
the Group, in an announcement by the Guarantor through the ASX or under clause 9.6(f)
of this amended and restated deed, no litigation, arbitration, administrative
proceeding or other procedure for the resolution of disputes is currently taking place
or pending against any Group Member (excluding the Excluded Entities) or any Group
Member’s assets (excluding the Excluded Entities’ assets) which has or is likely to
have a Material Adverse Effect;
	 
	 	(i)	 	(Security Interests) no Security Interest exists over any Group Member’s
assets (excluding the Excluded Entities’ assets) which is not permitted by clause 9.3;
	 
	 	(j)	 	(environmental matters) each Group Member (excluding the Excluded Entities)
has complied with all applicable Environmental Laws and the terms and conditions of
any Authorisation issued pursuant to an Environmental Law, except where a failure to
comply does not or is not likely to have a Material Adverse Effect;
	 
	 	(k)	 	(no immunity) neither it nor any of its assets has any immunity from
jurisdiction, suit, execution, attachment or other legal process in any jurisdiction
in which its assets are located or it carries on business;
	 
	 	(l)	 	(not a trustee) it does not enter into any Transaction Document as trustee;

	 	 	 
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	 	(m)	 	(ranking) its obligations under the Transaction Documents rank at least pari
passu with all of its other unsecured and unsubordinated obligations, other than those
mandatorily preferred by law;
	 
	 	(n)	 	(default under law) no member of the Group (excluding the Excluded Entities)
is in breach of any law, Authorisation, agreement or obligation
binding upon it or its
assets which has or is likely to have a Material Adverse Effect; and

	 	(o)	 	(holding company) in the case of the Guarantor only, at the date of this
amended and restated deed, the Guarantor has no material liabilities other than:

	 	(i)	 	creditors, provisions and indemnities incidental to its
activities as a holding company without a material operating business,
	 
	 	(ii)	 	liabilities under this amended and restated deed and the
Guarantee and Subordination Documents;
	 
	 	(iii)	 	liabilities to the Fund, the Charitable Fund and the
State of New South Wales under the AFFA (and Related Agreements, as defined
in the AFFA), including the Fund Guarantee;
	 
	 	(iv)	 	liabilities in relation to taxation; and
	 
	 	(v)	 	liabilities to shareholders in their capacity as such not
prohibited under the AFFA.

	8.2	 	When representations and warranties made
	 
	 	 	Each representation and warranty is made in favour of a Creditor on the date of execution
of its Facility Agreement and is not repeated unless specified in that Facility Agreement
or in clause 3.2(a).
	 
	8.3	 	Reliance on representations and warranties
	 
	 	 	Each Obligor acknowledges that the Creditors have entered into the Transaction Documents
in reliance on the representations and warranties in this clause.
	 
	9	 	Undertakings
	 
	9.1	 	Application
	 
	 	 	All undertakings set out in this clause 9 apply to a Facility Agreement unless the
Majority Creditor (or under a syndicated facility, an agent or trustee acting on the
instructions of the Majority Creditor) under that Facility Agreement consents in writing.
	 
	9.2	 	General undertakings
	 
	 	 	Each Obligor undertakes to each Creditor as follows:

	 	(a)	 	(nature of business) it will not (and will not permit any of its Subsidiaries
(excluding the Excluded Entities) to) engage in any business if, as a result, the
general nature of the business, taken on a consolidated

	 	 	 
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basis, which would then be engaged in by the Group would be substantially changed
from the general nature of the business engaged in by the Group on the date of the
relevant Facility Agreement;
	 
	 	(b)	 	(compliance with laws) it will comply (and will procure that its Subsidiaries
(excluding the Excluded Entities) comply) with all applicable laws (including, without
limitation, all Environmental Laws
and the terms and conditions of any Authorisation
required under an Environmental Law) in all material respects where non-compliance has
or is likely to have a Material Adverse Effect;

	 	(c)	 	(ranking) it will ensure that its obligations to the Creditor under the
Transaction Documents rank and will continue to rank at least pari passu with all of
its other unsecured and unsubordinated obligations, other than those mandatorily
preferred by law;
	 
	 	(d)	 	(Financial Indebtedness of Group Members) in the case of the Guarantor only,
and without limiting clauses 9.4(d) or 9.4(e), it will ensure that each Group Member
(excluding the Excluded Entities) that is not an Obligor does not incur any Financial
Indebtedness owing to any person outside the Group that is not Permitted External
Financial Indebtedness;
	 
	 	(e)	 	(holding company status) in the case of the Guarantor only, it will have no
material liabilities other than those described in clause 8.1(o);
	 
	 	(f)	 	(AFFA) in the case of the Guarantor only, it will not (without the prior
written consent of each relevant Creditor (or under a syndicated facility, an agent or
trustee acting on the instructions of the Majority Creditor), such consent not to be
unreasonably withheld or delayed) vary, or agree to vary, in any material adverse
respect the AFFA and
	 
	 	(g)	 	(JHT ownership) in the case of JHIFL only, it will not (without the prior
written consent of each relevant Creditor (or under a syndicated facility, an agent or
trustee acting on the instructions of the Majority Creditor), such consent not to be
unreasonably withheld or delayed) cease to own 100% of the issued capital of James
Hardie Technology Limited.

	9.3	 	Negative Pledge and disposals
	 
	 	 	Each Obligor undertakes to each Creditor that it will not, and will not permit any of its
Subsidiaries (excluding the Excluded Entities):

	 	(a)	 	to, create or allow to exist a Security Interest over any of its assets,
other than a Permitted Security Interest; nor
	 
	 	(b)	 	to, dispose of any assets other than a Permitted Disposal.

	9.4	 	Financial undertakings

	 	(a)	 	(Consolidated Net Worth) The Guarantor must ensure that Consolidated Net
Worth on each Reporting Date and, where applicable, on each ASX CNW Announcement Date
is not less than the greater of:

	 	 	 
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	 	(i)	 	US$420 million; and
	 
	 	(ii)	 	75% of Consolidated Net Worth as at the preceding 31
March.

	 	(b)	 	(EBIT) The Guarantor will ensure that EBIT will not be less than 3.25 times
Net Interest Charges for the 12 month period ending on each Reporting Date.

	 	(c)	 	(compensation funding) The Guarantor will ensure that no more than 35% of its
Free Cash Flow in any given Financial Year is contributed to the Fund on the payment
dates under the AFFA in the next following Financial Year. For avoidance of doubt, if
the Guarantor elects to make instalment payments to the Fund pursuant to clause
9.7(a)(i) of the AFFA, the 35% cap does not include any interest payable under clause
9.7(b) of the AFFA.
	 
	 	(d)	 	(Funded Debt) The Guarantor will ensure that the ratio of Consolidated Funded
Debt to Consolidated Funded Capitalisation does not exceed 55% at any time.
	 
	 	(e)	 	(Permitted External Financial Indebtedness) The Guarantor will ensure that
the ratio of Consolidated Permitted External Financial Indebtedness to Consolidated
Funded Capitalisation does not exceed 10% at any time.

	9.5	 	GAAP
	 
	 	 	The financial undertakings in clause 9.4 have been drafted such that compliance with them
is based on GAAP . If:

	 	(a)	 	a Borrower’s or Guarantor’s accountants or auditors advise at any time that
any change to GAAP occurring after 15 June 2005 materially and adversely alters the
effect of any such provision (or any related definition) and the Obligors’ Agent so
notifies the Creditor; or
	 
	 	(b)	 	the Creditor gives written notice to the Obligors’ Agent referring
specifically to this clause 9.5 and giving details of a change to GAAP occurring after
15 June 2005 which in the Creditor’s opinion (acting reasonably) materially and
adversely alters the effect of any such provision (or any related definition),
	 
	 	then: 	 
	 
	 	(c)	 	the Creditor and the Guarantor must negotiate in good faith to amend such
provision so that they have an effect comparable to that at the date of this amended
and restated deed; and
	 
	 	(d)	 	until such time as the amendments referred to in clause 9.5(c) are agreed,
compliance with the relevant provision (and related definitions) will be determined by
reference to GAAP.

	9.6	 	Reporting undertakings
	 
	 	 	The Guarantor shall deliver to each Creditor (or, in the case of a syndicated facility,
the facility agent) the following:

	 	 	 
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	 	(a)	 	(quarterly Group statements) within 60 days after the end of each quarterly
fiscal period in each fiscal year of the Guarantor (other than the last quarterly
fiscal period of each such fiscal year) a copy of:

	 	(i)	 	a consolidated balance sheet of the Group as at the end
of such quarter; and

	 	(ii)	 	consolidated statements of income, changes in
shareholders’ equity and cash flows of the Group, for such quarter and (in
the case of the second and third quarters) for the portion of the fiscal
year ending with such quarter,

	 	 	 	setting forth in each case in comparative form the figures for the corresponding
periods in the previous fiscal year, all in reasonable detail, prepared in
accordance with GAAP applicable to quarterly financial statements generally, and
certified by the chief financial officer, treasurer or principal accounting
officer of the Group as fairly presenting, in all material respects, the
financial position of the companies being reported on and their results of
operations and cash flows, subject to changes resulting from year-end
adjustments, provided that delivery within the time period specified above of
copies of the Guarantor’s Quarterly Report on Form 10-Q prepared in compliance
with the requirements applicable thereto and filed with the United States
Securities and Exchange Commission shall be deemed to satisfy the requirements of
this clause 9.6(a);
	 
	 	(b)	 	(annual Group statements) within 105 days after the end of the fiscal year of
the Guarantor a copy of:

	 	(i)	 	a consolidated balance sheet of the Group, as at the end
of such year; and
	 
	 	(ii)	 	consolidated statements of income, changes in
shareholders’ equity and cash flows of the Group, for such year,

	 	 	 	setting forth in each case in comparative form the figures for the previous
fiscal year, all in reasonable detail, prepared in accordance with GAAP, and
accompanied by an opinion thereon of independent certified public accountants of
recognised national standing, which opinion shall state that such financial
statements present fairly, in all material respects, the financial position of
the companies being reported upon and their results of operations and cash flows
and have been prepared in conformity with GAAP, and that the examination of such
accountants in connection with such financial statements has been made in
accordance with generally accepted auditing standards, and that such audit
provides a reasonable basis for such opinion in the circumstances, provided that
the delivery within the time period specified above of the Guarantor’s Annual
Report on Form 10-K for such fiscal year (together with the Guarantor’s annual
report to shareholders, if any, prepared pursuant to Rule 14a-3 under the
Exchange Act) prepared in accordance with the requirements applicable thereto and
filed with the United States Securities and Exchange Commission shall be deemed
to satisfy the requirements of this clause 9.6(b);

	 	 	 
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	 	(c)	 	(Borrower and Guarantor statements and reports)

	 	(i)	 	for so long as JHIFL is an Obligor:

	 	(A)	 	at the same time at which each
financial statement or report is delivered pursuant to clause
9.6(a) (“Consolidated Quarterly Statement”) and for as long
as the
JHIFL Financial Reports are prepared as a matter of general
internal accounting practice of the Obligors, a copy of the JHIFL
Financial Reports for the year to date as at the end of the
quarterly fiscal period to which the Consolidated Quarterly
Statement relates;

	 	(B)	 	at the same time at which each
financial statement or report is delivered pursuant to clause
9.6(b) (“Consolidated Annual Statement”) and for as long as the
JHIFL Financial Reports are prepared as a matter of general
internal accounting practice of the Obligors, a copy of the JHIFL
Financial Reports for the fiscal year to which the Consolidated
Annual Statement relates;
	 
	 	(C)	 	within 180 days after the end of the
fiscal year of JHIFL a copy of:

	 	(1)	 	the balance sheet of
JHIFL, as at the end of such year; and
	 
	 	(2)	 	a statement of income,
changes in shareholders’ equity and cash flows of JHIFL, for
such year,

	 	 	 	setting forth in each case in comparative form the figures for
the previous fiscal year, all in reasonable detail, prepared in
accordance with generally accepted accounting principles as in
effect from time to time in the Republic of Ireland, and
accompanied by an opinion thereon of independent certified public
accountants of recognised national standing in the Republic of
Ireland, which opinion shall state that such financial statements
present fairly, in all material respects, the financial position
of JHIFL and its results of operations and cash flows and have
been prepared in conformity with generally accepted accounting
principles as in effect from time to time in the Republic of
Ireland, and that the examination of such accountants in
connection with such financial statements has been made in
accordance with generally accepted auditing standards in the
Republic of Ireland, and that such audit provides a reasonable
basis for such opinion in the circumstances;

	 	(ii)	 	for so long as JHBP is an Obligor:

	 	(A)	 	at the same time at which each
Consolidated Quarterly Statement is delivered pursuant to clause
9.6(a) and for as long as the JHBP Financial Reports are prepared
as a matter of general internal accounting practice of the

	 	 	 
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Obligors, a copy of the JHBP Financial Reports for the year to
date as at the end of the quarterly fiscal period to which the
Consolidated Quarterly Statement relates; and
	 
	 	(B)	 	at the same time at which each
Consolidated Annual Statement is delivered pursuant to clause
9.6(b) and for as long as the JHBP Financial Reports are prepared
as a matter of general internal accounting practice of the

Obligors, a copy of the JHBP Financial Reports for the fiscal year
to which the Consolidated Annual Statement relates;

	 	(iii)	 	for so long as there is a Guarantor:

	 	(A)	 	at the same time at which each
Consolidated Quarterly Statement is delivered pursuant to clause
9.6(a) and for as long as the Guarantor Financial Reports are
prepared as a matter of general internal accounting practice of the
Guarantor, a copy of the Guarantor Financial Reports for the year
to date as at the end of the quarterly fiscal period to which the
Consolidated Quarterly Statement relates; and
	 
	 	(B)	 	at the same time at which each
Consolidated Annual Statement is delivered pursuant to clause
9.6(b) and for as long as the Guarantor Financial Reports are
prepared as a matter of general internal accounting practice of the
Guarantor, a copy of the Guarantor Financial Reports for the fiscal
year to which the Consolidated Annual Statement relates;

	 	(d)	 	(SEC and other reports) promptly upon their becoming available, one copy of:

	 	(i)	 	to the extent not already provided under clauses 9.6(a),
9.6(b) or 9.6(c), each financial statement, report, notice or proxy
statement sent by a Group Member (other than an Excluded Entity) to public
securities holders generally; and
	 
	 	(ii)	 	each regular or periodic report, each registration
statement (without exhibits, except as expressly requested by the Creditor
or facility agent as the case may be), and each prospectus and all
amendments thereto filed by a Group Member (other than an Excluded Entity)
with the United States Securities and Exchange Commission and all
announcements made by the Guarantor through ASX and press releases and other
statements made available generally by any Group Member (other than an
Excluded Entity) to the public concerning developments that are material;

	 	(e)	 	(Notice of Event of Default or Potential Event of Default) promptly upon
becoming aware of it, written notice to each Creditor (or, in the case of a syndicated
facility, the facility agent) of:

	 	 	 
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	 	(i)	 	the existence of any Event of Default or Potential Event
of Default; and
	 
	 	(ii)	 	the occurrence of any event which has or is likely to
have a Material Adverse Effect;

	 	(f)	 	(litigation) to the extent not disclosed in a document provided under
clauses 9.6(a), 9.6(b), 9.6(c), 9.6(d) or 9.6(e), notice in writing and in reasonable
detail of any litigation, arbitration, administrative proceeding or other procedure
for the resolution of disputes commenced, taking place, pending or to its knowledge,
threatened against any Group Member (other than an Excluded Entity) or any Group
Member’s assets (other than an Excluded Entity’s assets) which has or is likely to
have a Material Adverse Effect; and

	 	(g)	 	(requested information) such other information relating to the business,
operations and condition (financial or otherwise) of the Group (excluding the Excluded
Entities) as from time to time may be reasonably requested by a Creditor (but
excluding any information which the Guarantor is bound by an obligation of
confidentiality not to disclose).

	9.7	 	Officer’s certificate
	 
	 	 	Each set of consolidated financial statements delivered pursuant to clause 9.6(a) or
9.6(b) shall be accompanied by:

	 	(a)	 	a supplementary set of financial statements for the Group (excluding the
Excluded Entities), showing adjustments made to the consolidated financial statements
to eliminate the impact of the Excluded Entities; and
	 
	 	(b)	 	a certificate of the chief financial officer, treasurer or principal
accounting officer of the Group setting forth the information (including reasonably
detailed calculations) required in order to establish whether the Guarantor was in
compliance with the relevant requirements of clause 9.4 and the amount of after-tax
income of James Hardie Technology Limited that is required to be distributed pursuant
to the JHT Undertaking.

	10	 	Events of default
	 
	10.1	 	Events of Default
	 
	 	 	Each of the following is an Event of Default:

	 	(a)	 	(non-payment of principal) a Borrower fails to pay an amount of principal
payable by it under a Facility Agreement when due and does not remedy that failure
within 2 Business Days after that amount becomes due and payable;
	 
	 	(b)	 	(non-payment of other amounts) a Borrower fails to pay any amount, other than
an amount described in paragraph (a), payable by it under a Facility Agreement and
does not remedy that failure within 3 Business Days after that amount becomes due and
payable;

	 	 	 
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	 	(c)	 	(financial undertakings)

	 	(i)	 	there is at any time a breach of any financial
undertaking in clause 9.4 and, in the case of a breach of clause 9.4(d) or
9.4(e), the breach is not cured within 10 Business Days of the Guarantor
receiving written notice from a Creditor (or, in the case of a syndicated
facility, the facility agent) requiring such remedy; or

	 	(ii)	 	the Guarantor fails to deliver a certificate as required
by clause 9.7(b) within 7 days of receipt of written notice from a Creditor
of failure to provide such certificate;

	 	(d)	 	(other default)

	 	(i)	 	any Obligor defaults in the performance of or compliance
with any material obligation contained in a Transaction Document (other than
those referred to in clause 10.1(a), 10.1(b) or 10.1(c)); and
	 
	 	(ii)	 	the default is not waived or, if capable of remedy, the
default is not remedied within 21 days of the Obligor receiving written
notice from a Creditor (or, in the case of a syndicated facility, the
facility agent) referring specifically to this clause 10.1(d) and requiring
such remedy;

	 	(e)	 	(AFFA) the Group Member primarily liable to make funding payments to the Fund
under the AFFA defaults in the performance of, or compliance with, its obligation to
make any such payment when due or within any applicable grace period and such default
is not cured by that Group Member or the Guarantor within 3 Business Days;
	 
	 	(f)	 	(misrepresentation)

	 	(i)	 	any representation or warranty made or deemed to be made
by an Obligor in a Transaction Document proves to have been inaccurate in
any material respect when made or deemed to be repeated; and
	 
	 	(ii)	 	the misrepresentation or breach of warranty is not waived
or, if capable of remedy, the matter giving rise to the misrepresentation or
breach of warranty is not remedied within 21 days of the Obligor becoming
aware that the representation or warranty was inaccurate when made or deemed
to have been repeated;

	 	(g)	 	(cross-default)

	 	(i)	 	an Obligor is in default in the payment of any Financial
Indebtedness that is outstanding in an aggregate principal amount of at
least US$20,000,000 (or its equivalent in another currency) beyond any
period of grace provided with respect thereto and such Financial
Indebtedness is not paid within 3 Business Days; or

	 	 	 
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	 	(ii)	 	any Financial Indebtedness of an Obligor exceeding
US$20,000,000 (or its equivalent in another currency) has become, or has
been declared, due and payable before its stated maturity and such Financial
Indebtedness is not paid within 3 Business Days.

	 	(h)	 	(insolvency) a Relevant Entity:

	 	(i)	 	is generally not paying, or admits in writing its
inability to pay, its debts as they become due;

	 	(ii)	 	files, or consents by answer or otherwise to the filing
against it of, a petition for relief or reorganisation or arrangement or any
other petition in bankruptcy, for liquidation or to take advantage of any
bankruptcy, insolvency, reorganization, moratorium or other similar law of
any jurisdiction (for the avoidance of doubt, this includes, in respect of a
person established under Dutch law, a filing of a petition by it with any
court in the Netherlands in relation to its bankruptcy (faillissement) or
suspension of payments (surseance van betaling) and, in respect of a person
established under Irish law, a filing of a petition with any court in the
Republic of Ireland in relation to its liquidation, the bringing forward of
a scheme of arrangement or the appointment of an examiner);
	 
	 	(iii)	 	makes an assignment for the benefit of its creditors;
	 
	 	(iv)	 	consents to the appointment of a custodian, receiver,
receiver and manager, trustee or other officer with similar powers with
respect to it or with respect to any substantial part of its property;
	 
	 	(v)	 	consents to the appointment of an administrator;
	 
	 	(vi)	 	is adjudicated as insolvent or to be liquidated; or
	 
	 	(vii)	 	takes corporate action for the purpose of any of the
foregoing.

	 	(i)	 	(receiver)

	 	(i)	 	A court or Government Agency of competent jurisdiction
enters an order appointing, without consent by a Relevant Entity, a
custodian, receiver, receiver and manager, trustee or other officer with
similar powers with respect to the Relevant Entity or with respect to any
substantial part of its property, or constituting an order for relief or
approving a petition for relief or reorganisation or any other petition in
bankruptcy or for liquidation or to take advantage of any bankruptcy or
insolvency law of any jurisdiction, or ordering the dissolution, winding-up
or liquidation of the Relevant Entity, or any such petition shall be filed
against the Relevant Entity (other than a frivolous or vexatious petition)
and such petition is not dismissed or cancelled within 30 days (and for the
avoidance of doubt, this includes, in respect of a person established under
Dutch law, appointment by a court of a trustee (curator) in relation to its

	 	 	 
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	 	 	 	bankruptcy or appointment by a court of a receiver (bewindvoerder) in
relation to its provisional suspension of payments and, in respect of a
person established under Irish law, appointment by a court of an
examiner); or
	 
	 	(ii)	 	an administrator of the Relevant Entity is appointed; or
	 
	 	(iii)	 	a receiver, receiver and manager, administrative
receiver or similar officer is appointed to all or any substantial part of
the assets of a Relevant Entity in respect of Financial Indebtedness that
has been due and payable for at least 5 Business Days in an aggregate
principal amount of at least US$20,000,000 (or its
equivalent in another
currency) and that officer is not removed within 7 days of his appointment;

	 	(j)	 	(judgment) a final judgment or judgments for the payment of money aggregating
in excess of US$20,000,000 (or its equivalent in another currency) are rendered
against a Relevant Entity and such judgments are not, within 45 days after entry
thereof, bonded, discharged or stayed pending appeal, or are not discharged within 45
days after the expiration of such stay;
	 
	 	(k)	 	(vitiation of documents)

	 	(i)	 	any material provision of a Transaction Document ceases
for any reason to be in full force and effect or becomes void, voidable or
unenforceable;
	 
	 	(ii)	 	any law suspends, varies, terminates or excuses
performance by an Obligor of any of its material obligations under a
Transaction Document or purports to do any of the same;
	 
	 	(iii)	 	it becomes impossible or unlawful for an Obligor to
perform any of its material obligations under a Transaction Document or for
the Creditors to exercise all or any of their rights, powers and remedies
under a Transaction Document; or
	 
	 	(iv)	 	an Obligor alleges that a Transaction Document has been
affected as described in this paragraph;

	 	(l)	 	(ownership of Borrower) any Borrower ceases to be directly or indirectly
fully owned and controlled by the Guarantor;
	 
	 	(m)	 	(Authorisation) any Authorisation necessary in connection with the execution,
delivery or performance by an Obligor of the Transaction Documents, or the validity or
enforceability of the Transaction Documents, is not granted or ceases to be in full
force and effect for any reason or is modified or amended in a manner which, in the
reasonable opinion of all Creditors, would have a Material Adverse Effect; or
	 
	 	(n)	 	(material change) a change occurs in the financial condition of the Group (as
a whole, but excluding the Excluded Entities) which has a Material Adverse Effect.

	 	 	 
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	10.2	 	Consequences of default
	 
	 	 	If an Event of Default is continuing, a Creditor (or, in the case of a syndicated
facility, an agent or trustee acting on the instructions of the Majority Creditor) may
declare at any time by notice to the Obligors’ Agent that:

	 	(a)	 	an amount equal to all or any part of the Outstanding Moneys payable to the
Creditor (or, in the case of a syndicated facility, the facility agent) is:

	 	(i)	 	payable on demand; or
	 
	 	(ii)	 	immediately due for payment;

	 	(b)	 	the obligations of the Creditor specified in the notice are terminated and
cancelled.

	 	 	A Creditor (or, in the case of a syndicated facility, the facility agent) may make either
or both of these declarations. The making of either of them gives immediate effect to its
provisions.
	 
	11	 	Review events
	 
	 	 	If, at any time after the date of a Facility Agreement and for any reason, whether or
not within the control of the Obligors:

	 	(a)	 	a Change of Control occurs;
	 
	 	(b)	 	the securities of the Guarantor are suspended from quotation by ASX for more
than 10 Business Days or the Guarantor is removed from the Official List of ASX; or
	 
	 	(c)	 	provisions made by the Group in accordance with GAAP for asbestos related
liabilities (if any) not arising in connection with the AFFA exceed 15% of
Consolidated Net Worth at that time (with Consolidated Net Worth for this purpose
calculated by adding back all such asbestos related liabilities under this paragraph
(c), ignoring the 15% cap),

	 	 	then the Guarantor must notify each Creditor (or, in the case of a syndicated facility,
the facility agent) in writing of the occurrence of the event as soon as reasonably
practicable. A Creditor may, by notice to any Borrower (with a reasonably detailed
explanation of the reasons for its election to discontinue funding that Borrower) within
60 days of the date of receipt of notice from the Guarantor:

	 	(d)	 	cancel its commitment to provide financial accommodation under the relevant
Facility Agreement with immediate effect; and/or
	 
	 	(e)	 	declare the moneys borrowed under the relevant Facility Agreement to be, and
the borrowed moneys will be, due and payable on a date no earlier than 90 days from
the date of the Creditor’s notice.

	 	 	 
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	12	 	Costs and indemnities
	 
	12.1	 	What the Borrower agrees to pay
	 
	 	 	Each relevant Borrower agrees to pay a Creditor promptly on demand to the Obligors’ Agent
from that Creditor (except in the case of a Creditor under a syndicated facility, in which
case demand must be made by the facility agent):

	 	(a)	 	the reasonable Costs of each Creditor in connection with:

	 	(i)	 	the registration of any Transaction Document; and
	 
	 	(ii)	 	giving and considering consents, waivers, variations,
discharges and releases requested by the relevant Borrower, the Guarantor or
the Obligors’ Agent;

	 	(b)	 	the Costs of each Creditor in exercising, enforcing or preserving rights in
connection with a Transaction Document; and
	 
	 	(c)	 	Taxes and fees (including registration fees) (other than Excluded Taxes) and
fines and penalties in respect of fees paid in connection with any Transaction
Document or a payment or receipt or any other transaction contemplated by any
Transaction Document. However, the relevant Borrower need not pay a fine or penalty
in connection with Taxes or fees to the extent that it has lodged with the relevant
Creditor sufficient cleared funds for the relevant Creditor to be able to pay the
Taxes or fees by the due date.

	 	 	This clause 12.1 shall not apply to any amounts, which have otherwise been paid or
compensated for under a Transaction Document.
	 
	12.2	 	Indemnity
	 
	 	 	Each relevant Borrower indemnifies each Creditor against any claim, action, damage, loss,
liability, cost, charge, expense, outgoing and payment of Break Costs which that Creditor
pays, suffers, incurs or is liable for in connection with:

	 	(a)	 	any failure by the relevant Borrower to draw down financial accommodation
requested by it under a Transaction Document for any reason except default of a
Creditor;
	 
	 	(b)	 	financial accommodation under a Transaction Document being repaid, discharged
or made payable other than at its maturity, an interest payment date or other due date
applicable to it;
	 
	 	(c)	 	any failure to prepay any part of the amount outstanding to a Creditor in
accordance with a prepayment notice given under a Facility;
	 
	 	(d)	 	a Creditor acting in connection with a Transaction Document in good faith on
fax or telephone instructions which have no apparent irregularity on their face,
purport to originate from the offices of an Obligor or to be given by an Authorised
Officer of an Obligor which, in the case of fax instructions, are signed and such
signature accords with a current specimen signature of an Authorised Officer in the
possession of the Creditor;

	 	 	 
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	 	(e)	 	an Event of Default or Potential Event of Default;
	 
	 	(f)	 	a Creditor exercising or attempting to exercise a right or remedy in
connection with a Transaction Document after an Event of Default; or
	 
	 	(g)	 	any indemnity a Creditor gives a Controller or administrator of the Obligor.

	 	 	Each Borrower agrees to pay amounts due under this indemnity on demand to the Obligors’
Agent from the applicable Creditor (except in the case of a Creditor under a syndicated
facility, in which case demand must be made by, and payment must be made to the facility
agent).

	12.3	 	Currency conversion on judgment debt
	 
	 	 	If a judgment, order or proof of debt for an amount in connection with a Transaction
Document is expressed in a currency other than that in which the amount is due under the
Transaction Document, then the relevant Borrower indemnifies each Creditor against:

	 	(a)	 	any difference arising from converting the other currency if the rate of
exchange used by the Creditor under clause 4.2 (“Currency of payment”) for converting
currency when it receives a payment in the other currency is less favourable to the
Creditor than the rate of exchange used for the purpose of the judgment, order or
acceptance of proof of debt; and
	 
	 	(b)	 	the Costs of conversion.

	 	 	Each Borrower agrees to pay amounts due under this indemnity to a Creditor on demand from
that Creditor (except in the case of a Creditor under the syndicated facility, in which
case demand must be made by the facility agent).
	 
	12.4	 	Indirect Taxes

	 	(a)	 	All payments to be made by an Obligor under or in connection with any
Transaction Document have been calculated without regard to Indirect Tax. If all or
part of any such payment is the consideration for a taxable supply or chargeable with
Indirect Tax then, when the Obligor makes the payment:

	 	(i)	 	it must pay to the Creditor an additional amount equal to
that payment (or part) multiplied by the appropriate rate of Indirect Tax;
and
	 
	 	(ii)	 	the Creditor will promptly provide to the Obligor a tax
invoice complying with the relevant law relating to that Indirect Tax.

	 	(b)	 	Where a Transaction Document requires an Obligor to reimburse a Creditor for
any costs or expenses, that Obligor shall also at the same time pay and indemnify that
Creditor against all Indirect Tax incurred by that Creditor in respect of the costs
or expenses save to the extent that that Creditor is entitled to repayment or credit
in respect of the Indirect Tax. The Creditor will promptly provide to the Obligor a
tax invoice complying with the relevant law relating to that Indirect Tax.

	 	 	 
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	13	 	Interest on overdue amounts
	 
	13.1	 	Obligation to pay
	 
	 	 	If an Obligor does not pay any amount under any Transaction Document (including an amount
of interest payable under this clause 13.1 on the due date for payment, that Obligor must
pay interest on that amount at the Default Rate. The interest accrues daily from (and
including) the due date to (but excluding) the date of actual payment and is calculated on
actual days elapsed and either a 360 or 365 day year, whichever is the length of time
customarily adopted for such calculations for the currency in which the relevant amount is
denominated.
	 
	 	 	The relevant Obligor must pay interest under this clause to the relevant Creditor.

	13.2	 	Compounding
	 
	 	 	Interest payable under clause 13.1 (“Obligation to pay”), which is not paid when due for
payment, may be added to the overdue amounts by the relevant Creditor on the last Business
Day of each calendar month. Interest is payable on the increased overdue amount at the
Default Rate in the manner set out in clause 13.1 (“Obligation to pay”).
	 
	13.3	 	Interest following judgment
	 
	 	 	If a liability becomes merged in a judgment, the relevant Obligor must pay interest on the
amount of that liability as an independent obligation. This interest:

	 	(a)	 	accrues daily from (and including) the date the liability becomes due for
payment both before and after the judgment up to (but excluding) the date the
liability is paid; and
	 
	 	(b)	 	is calculated at the judgment rate or the Default Rate (whichever is higher).

	 	 	The relevant Obligor must pay interest under this clause 13 to the relevant Creditor on
demand from the relevant Creditor.

	 	 	 
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Part 3 General

	14	 	Change of Borrowers
	 
	14.1	 	New Borrowers
	 
	 	 	A Wholly Owned Subsidiary of the Guarantor may, with the consent of each relevant
Creditor, become a party to this amended and restated deed as a Borrower (after the date
of this amended and restated deed) by:

	 	(a)	 	signing and delivering to each relevant Creditor (or, in the case of a
syndicated facility, the facility agent) a deed poll substantially in the form of
schedule 3 (“Form of New Borrower Deed Poll”); and
	 
	 	(b)	 	doing any other thing the relevant Creditors reasonably request to ensure the
enforceability of that company’s obligations as a Borrower and, if requested, agrees
to provide an opinion in form and substance satisfactory to the relevant Creditors
from legal advisers of recognised standing acceptable to the relevant Creditors in
that company’s place of incorporation confirming such enforceability.

	 	 	The Guarantor will confirm in writing to each relevant Creditor that the Guarantee Trust
Deed applies to the borrowings of the new Borrower under the relevant Facility Agreements.
	 
	14.2	 	Release of Borrowers

	 	(a)	 	The Guarantor may request that a Borrower cease to be a Borrower by giving to
each relevant Creditor (or, in the case of a syndicated facility, the facility agent)
a duly completed Release Request executed by an Authorised Officer of the Guarantor
and the Borrower that is, subject to the remaining provisions of this clause, to cease
being a Borrower.
	 
	 	(b)	 	On giving a Release Request to the Creditor (or, in the case of a syndicated
facility, the facility agent) pursuant to clause 14.2(a), the Guarantor and the
Borrower identified in that Release Request represent and warrant to the Creditor that
no Event of Default or Potential Event of Default is outstanding or would result from
the release of that Borrower from its obligations under this amended and restated
deed.
	 
	 	(c)	 	The Creditor (or, in the case of a syndicated facility, the facility agent)
must, as soon as reasonably practicable after receiving a Release Request, execute a
Deed of Release releasing the Borrower identified in the Release Request from its
obligations under this amended and restated deed if, and only if:

	 	(i)	 	no amount due and payable to that Creditor by that
Borrower under this amended and restated deed remains outstanding and
unpaid; and
	 
	 	(ii)	 	that Creditor is not committed to providing further
financial accommodation to that Borrower pursuant to any Facility.

	 	 	 
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	 	(d)	 	The Borrower identified in the Release Request will cease to be a Borrower
when the Creditor (or, in the case of a syndicated facility, the facility agent)
executes a Deed of Release in respect of that Borrower.

	15	 	Dealing with interests
	 
	15.1	 	Dealings by Obligors
	 
	 	 	An Obligor may only assign or otherwise deal with its rights or obligations under any
Transaction Document with the consent of each Creditor.
	 
	15.2	 	Dealings by Creditors
	 
	 	 	A Creditor may assign, transfer, sub-participate or otherwise deal with all or any of its
rights or obligations under a Transaction Document at any time if:

	 	(a)	 	the Obligors’ Agent has given its prior consent, which consent shall not be
unreasonably withheld; and
	 
	 	(b)	 	in the case of a transfer of obligations, the transfer is effected by a
novation in form and substance reasonably satisfactory to the relevant Borrower.

	15.3	 	Change in lending office
	 
	 	 	A Creditor may change its lending office if it first notifies and consults with the
Obligors’ Agent. If this occurs, clause 15.5 will apply.

	15.4	 	Securitisation permitted

	 	(a)	 	Subject to clause 15.4(b), a Creditor may, without having to obtain the
consent of or notify any Obligor, assign, transfer, sub-participate or otherwise deal
with all or any part of its rights and benefits under any Transaction Document to a
trustee of a trust, company or other entity which in each case is established for the
purposes of securitisation.
	 
	 	(b)	 	Notwithstanding any assignment, transfer, sub-participation or other dealing
by that Creditor under clause 15.4(a):

	 	(i)	 	that Creditor remains bound by, and must continue to
perform all its obligations under the Transaction Documents;
	 
	 	(ii)	 	that Creditor is the only person entitled to exercise any
power, and no assignee, transferee, sub-participant or other person who
obtains an interest in any of the rights or benefits of that Creditor under
the Transaction Documents pursuant to clause 15.4(a) may do so; and
	 
	 	(iii)	 	any amount payable by the Obligors to that Creditor under
any Transaction Document will, if paid by an Obligor to that Creditor,
operate as an effective discharge of the Obligor’s obligation to make that
payment.

	 	(c)	 	Nothing done by a Creditor under this clause 15.4 will affect any Obligor’s
rights under any Transaction Documents.

	 	 	 
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	15.5	 	No increased costs
	 
	 	 	Despite anything to the contrary in this amended and restated deed or the Transaction
Documents, if a Creditor changes its lending office or transfers, assigns, novates or
otherwise deals with its rights or obligations under the Transaction Documents, then no
Obligor will be required to pay:

	 	(a)	 	any net increase in the total amount of fees, Taxes, costs, expenses or
charges which arises as a consequence of the change in lending office, transfer,
assignment, novation or other dealing; or
	 
	 	(b)	 	any fees, Taxes, costs, expenses or charges in respect of the change in
lending office, transfer, assignment, novation or other dealing.

	 	 	A substitution will be regarded as a transfer for the purposes of this clause 15.5.
	 
	16	 	Obligors’ Agent
	 
	16.1	 	Obligors’ Agent as agent of the Obligors
	 
	 	 	Each Obligor (other than the Obligors’ Agent):

	 	(a)	 	irrevocably authorises the Obligors’ Agent to act on its behalf as its agent
in relation to the Transaction Documents, including:

	 	(i)	 	to give and receive as agent on its behalf all notices
and instructions (including drawdown notices);
	 
	 	(ii)	 	to sign on its behalf all documents in connection with
the Transaction Documents (including amendments and variations of any
Transaction Documents, and to execute any new Transaction Documents); and
	 
	 	(iii)	 	to take such other action as may be necessary or
desirable under or in connection with the Transaction Documents; and

	 	(b)	 	confirms that it will be bound by any action taken by the Obligors’ Agent
under or in connection with the Transaction Documents.

	16.2	 	Acts of Obligors’ Agent

	 	(a)	 	The respective liabilities of each of the Obligors under the Transaction
Documents shall not be in any way affected by:

	 	(i)	 	any actual or purported irregularity in any act done or
failure to act by the Obligors’ Agent;
	 
	 	(ii)	 	the Obligors’ Agent acting (or purporting to act) in any
respect outside any authority conferred upon it by any Obligor; or
	 
	 	(iii)	 	any actual or purported failure by or inability of the
Obligors’ Agent to inform any Obligor of receipt by it of any notification
under the Transaction Documents.

	 	 	 
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	 	(b)	 	In the event of any conflict between any notices or other communications of
the Obligors’ Agent and any other Obligor, those of the Obligors’ Agent shall prevail.

	17	 	Notices
	 
	17.1	 	Form
	 
	 	 	Unless expressly stated otherwise in a Transaction Document, all notices, certificates,
consents, approvals, waivers and other communications in connection with that Transaction
Document (“Notices”) must be in writing, signed by an Authorised Officer of the sender and
marked for attention as set out or referred to in the Details of this amended and restated
deed or another Transaction Document or, if the recipient has notified otherwise, marked
for attention in the way last notified.

	17.2	 	Delivery
	 
	 	 	Notices must be:

	 	(a)	 	delivered to the address set out or referred to in this amended and restated
deed or as set out as the recipient’s relevant address in another Transaction
Document; or
	 
	 	(b)	 	sent by prepaid post (airmail, if appropriate) to the address set out or
referred to in the Details or as set out as the recipient’s address in another
Transaction Document; or
	 
	 	(c)	 	sent by fax to the fax number set out or referred to in the Details or as set
out as the recipient’s relevant fax number in another Transaction Document.

	 	 	However, if the intended recipient has notified a changed postal address or changed fax
number, then the communication must be to that address or number.
	 
	17.3	 	When effective
	 
	 	 	Notices take effect from the time they are received unless a later time is specified in
them.
	 
	17.4	 	Receipt — postal
	 
	 	 	If sent by post, Notices are taken to be received three Business Days after posting (or
five Business Days after posting if sent across national boundaries).
	 
	17.5	 	Receipt — fax
	 
	 	 	If sent by fax, Notices are taken to be received at the time shown in the transmission
report as the time that the whole fax was sent.
	 
	17.6	 	Receipt — general
	 
	 	 	Despite clauses 17.4 (“Receipt — postal”) and 17.5 (“Receipt — fax”), if Notices are
received after 5:00pm in the place of receipt or on a non-Business Day, they are taken to
be received at 9:00am on the next Business Day.

	 	 	 
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	17.7	 	Notices to or from facility agent
	 
	 	 	A Notice to or from a facility agent appointed under a syndicated facility constitutes
sufficient notice to or from the Creditors under that Facility Agreement for the purposes
of this amended and restated deed.
	 
	17.8	 	Waiver of notice period
	 
	 	 	The Majority Creditor may waive a period of notice required to be given by an Obligor
under any Transaction Document.
	 
	18	 	General
	 
	18.1	 	Consents
	 
	 	 	Each Obligor agrees to comply with all conditions in any consent a Creditor gives in
connection with a Transaction Document if the Obligor relies on that consent in performing
its obligations under the Transaction Documents.
	 
	18.2	 	Certificates
	 
	 	 	A Creditor may give an Obligor a certificate about an amount payable or other matter in
connection with a Transaction Document. Subject to any applicable provision of the
Transaction Documents specifying the form or content of the certificate (including
clause 6.2 of this amended and restated deed), the certificate is sufficient evidence of
the amount or matter, unless it is proved to be incorrect.
	 
	18.3	 	Set-off
	 
	 	 	At any time after a declaration is made under clause 10.2 of this amended and restated
deed, the Creditor making the declaration (or on whose behalf a declaration was made by a
facility agent for a syndicate of financiers) may set off any amount due for payment by
the Creditor to an Obligor against any amount due for payment by the Obligor to the
Creditor under the Transaction Document.
	 
	18.4	 	Discretion in exercising rights
	 
	 	 	A Creditor may exercise a right or remedy or give or refuse its consent under a
Transaction Document in any way it considers appropriate (including by imposing
conditions).
	 
	18.5	 	Partial exercising of rights
	 
	 	 	If a Creditor does not exercise a right or remedy under a Transaction Document fully or at
a given time, the Creditor may still exercise it later.
	 
	18.6	 	No liability for loss
	 
	 	 	No Creditor is liable for loss caused by the exercise or attempted exercise of, failure to
exercise, or delay in exercising, a right or remedy under a Transaction Document.

	 	 	 
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	18.7	 	Conflict of interest
	 
	 	 	A Creditor’s rights and remedies under any Transaction Document may be exercised even if
this involves a conflict of duty or the Creditor has a personal interest in their
exercise.
	 
	18.8	 	Remedies cumulative
	 
	 	 	The rights and remedies of a Creditor under any Transaction Document are in addition to
other rights and remedies given by law independently of the Transaction Document.
	 
	18.9	 	Indemnities
	 
	 	 	Any indemnity in a Transaction Document is a continuing obligation, independent of each
Obligor’s other obligations under that Transaction Document and continues after the
Transaction Document ends. It is not necessary for a Creditor to incur expense or make
payment before enforcing a right of indemnity under a Transaction Document.
	 
	18.10	 	Rights and obligations are unaffected
	 
	 	 	Rights given to a Creditor under a Transaction Document and each Obligor’s liabilities
under it are not affected by anything which might otherwise affect them at law.
	 
	18.11	 	Inconsistent law
	 
	 	 	To the extent permitted by law, each Transaction Document prevails to the extent it is
inconsistent with any law.
	 
	18.12	 	Supervening legislation
	 
	 	 	Any present or future legislation which operates to vary the obligations of any Obligor in
connection with a Transaction Document with the result that a Creditor’s rights, powers or
remedies are adversely affected (including by way of delay or postponement) is excluded
except to the extent that its exclusion is prohibited or rendered ineffective by law.
	 
	18.13	 	Variation
	 
	 	 	A provision of a Transaction Document, or right created under it, may not be varied except
in writing signed by the party or parties to be bound (whether directly or through a
properly authorised agent or attorney). A provision of this amended and restated deed may
only be amended by agreement between the Obligors and each relevant Creditor.
	 
	18.14	 	Waiver
	 
	 	 	A provision of this amended and restated deed or right created under it may not be waived
except in writing by the party granting the waiver.
	 
	18.15	 	Confidentiality

	 	 	 
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	 	 	No Obligor or Creditor may disclose information provided by any party to a Transaction
Document that is not publicly available (including the existence of or contents of any
Transaction Document) except:

	 	(a)	 	to any person in connection with an exercise of rights or (subject to
compliance with clause 15 a dealing with rights or obligations under a Transaction
Document (including when a Creditor consults other Creditors after an Event of Default
or in connection with preparatory steps such as negotiating with any potential
assignee or potential sub-participant or other person who is considering contracting
with the Creditor in connection with a Transaction Document);
	 
	 	(b)	 	on a confidential basis, to officers, employees, legal and other advisers and
auditors of any Obligor or Creditor;
	 
	 	(c)	 	on a confidential basis, to any party to a Transaction Document or any
Related Entity of any party to a Transaction Document;
	 
	 	(d)	 	with the consent of the party who provided the information (such consent not
to be unreasonably withheld); or
	 
	 	(e)	 	as required by any law or stock exchange or any Governmental Agency
(including for Australian, US, Irish and Dutch tax authorities, in each case to the
extent applicable).

	 	 	Each Obligor and Creditor is taken to consent to disclosures made in accordance with this
clause 18.15.
	 
	18.15A	 	Creditor’s compliance with law
	 
	 	 	Each Obligor consents to a Creditor obtaining, verifying, recording and/or disclosing to
any Government Agency all information concerning that Obligor, the Transaction Documents
and the transactions contemplated thereunder which the Creditor is required by the law of
any country (including, without limitation, laws relating to money laundering and/or the
financing of terrorism) to obtain, verify, record and/or disclose. The Obligors agree to
provide all information to the Creditor that the Creditor reasonably requires to comply
with any such law.
	 
	18.16	 	No responsibility for other’s obligations
	 
	 	 	If a Creditor does not comply with its obligations under a Transaction Document, this does
not relieve any other Creditor or an Obligor of any of their respective obligations. No
party is responsible for the obligations of another party.
	 
	18.17	 	Further steps
	 
	 	 	Each Obligor agrees to do anything a Creditor reasonably asks (such as obtaining consents,
signing and producing documents and getting documents completed and signed):

	 	(a)	 	to bind the Obligor and any other person intended to be bound under a
Transaction Document;
	 
	 	(b)	 	to enable a Creditor to register any power of attorney or any Transaction
Document; or

	 	 	 
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	 	(c)	 	to show whether the Obligor is complying with this amended and restated deed.

	18.18	 	Counterparts
	 
	 	 	A Transaction Document may consist of a number of copies, each signed by one or more
parties to the document. If so, the signed copies are treated as making up the one
document.
	 
	18.19	 	Governing law
	 
	 	 	Each Transaction Document is governed by the law in force in New South Wales. Each
Obligor submits to the non-exclusive jurisdiction of the courts of that place.
	 
	18.20	 	Serving documents
	 
	 	 	Subject to clause 18.21 (“Process Agent”) and without preventing any other method of
service, any document in a court action may be served on a party by being delivered to or
left at that party’s address for service of notices under clause 17 (“Notices”).
	 
	18.21	 	Process Agent
	 
	 	 	Each Non-Australian Obligor appoints James Hardie Australia Pty Limited (ABN 12 084 635
558) of Level 3, 22 Pitt Street, Sydney NSW 2000 (Attention: The Company Secretary) as
its agent for service of process to receive any document in connection with the
Transaction Documents. If for any reason James Hardie Australia Pty Limited (ABN 12 084
635 558) ceases to be able to act as process agent for the Non-Australian Obligor, the
Non-Australian Obligor must promptly appoint another person in New South Wales to act as
its process agent and must promptly notify each Creditor (or, in the case of a syndicated
facility, the facility agent) of that appointment.
	 
	18.22	 	Each Creditor’s consent to this amended and restated deed
	 
	 	 	The terms of this amended and restated deed will take effect (and prevail over the terms
of the Previous Deeds) as between the Obligors and a Creditor only after that Creditor has
provided its written consent to the Obligors in respect of this amended and restated deed
and until that time the Previous Deeds will apply as between the Obligors and that
Creditor.
	 
	 	 	Subject to the above paragraph, the Previous Deeds remain in full force and effect.
	 
	EXECUTED as a deed poll

	 	 	 
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James hardie — Common Terms Deed Poll

Schedule 1 — Verification Certificate (clause 3.1

[name]

[address]

Tel [insert]

Fax [insert]

To: [Name of financier]

US$[•] Facility Agreement dated [•] 20## between [Name of Borrower] and [Name of
financier]

(“Facility Agreement”)

I [name] am a director of [James Hardie International Finance Limited (with a registered office in
Dublin) / James Hardie Industries N.V. (with corporate seat in Amsterdam) / James Hardie Building
Products, Inc. (incorporated in Delaware)] (“Company”). I refer to the Facility Agreement.
Definitions in the Facility Agreement apply in this Certificate.

I CERTIFY as follows:

	1	 	Attached to this Certificate is a complete and up to date copy of:

	 	(a)	 	the constituent documents of the Company; and
	 
	 	(b)	 	a written resolution of the board of directors of the Company and power of
attorney in the name of the Company, evidencing resolutions of the board of
directors of the Company approving execution of those of the following documents to
which the Company is expressed to be a party, appointing attorneys for that purpose
and appointing Authorised Officers of the Company for the purposes of those
documents:

	 	(i)	 	the Facility Agreement;
	 
	 	(ii)	 	the Common Terms Deed Poll; and
	 
	 	(iii)	 	any Beneficiary Nomination Letter, Facility Nomination
Letter or Financier Nomination Letter in relation to the Facility Agreement.

	 	 	 	Those resolutions and that power of attorney have not been amended, modified or
revoked and are in full force and effect.

	2	 	Set out below are specimen signatures of the Authorised Officers of the Company.

	 	 	 
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	 	 	Authorised Officers#

	 	 	 	 	 
	Name	 	Position	 	Signature
	*

	 	*
	 	 
	*

	 	*
	 	 
	*

	 	*
	 	 

 

			
	#	 	One of the Authorised Officers must be the chief financial officer, treasurer or
principal accounting officer of the Group (see clause 9.7 of the Common Terms Deed Poll).

DATED            200

                                                            

Name:

	 	 	 
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James hardie — Common Terms Deed Poll

Schedule 2 — Facility Nomination Letter (clause 2.1

James Hardie International Finance Limited

Europa House

Second Floor

Harcourt Centre

Harcourt Street

Dublin 2

Ireland

Tel [insert]

Fax +35 1 479 1128

To: [Creditor] 

[Date]

James Hardie — Common Terms Deed Poll — Facility Nomination Letter

We refer to the James Hardie — Common Terms Deed Poll as amended and restated on [•] 2009 (“CTDP”).

For the purposes of the CTDP, on and from the date of this letter:

	1.	 	we nominate [each of] the following agreement[s] as a Facility Agreement:
	 
	 	 	Name: [•]
	 
	 	 	Date: [•]
	 
	 	 	Parties: [•]
	 
	 	 	[repeat as necessary]
	 
	2.	 	the agreement, and each document named or referred to as a [“Financing Document”] in such
agreement, is a Transaction Document for the purposes of the CTDP; and
	 
	3.	 	we nominate you as a “Creditor” pursuant to that Facility Agreement.

Please confirm your acceptance of the above nomination, and the benefit and obligations of the
CTDP, by signing and returning the attached copy of this letter.

Clauses 1 (“Interpretation”) and 18.19 (“Governing law”) of the CTDP described above apply to this
letter as they were fully set out in this letter.

For and on behalf of

James Hardie International Finance Limited as Obligors’ Agent

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

57

 

Authorised Officer: [Name]

                                       
                     
                           

We accept and agree to the above nomination. We accept the benefit and obligations of the CTDP,
and we agree to be bound by the terms of that deed.

For and on behalf of [Insert name of Creditor]

by its Authorised Officer

Name:

Title:

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

58

 

James Hardie — Common Terms Deed Poll

Schedule 3 — Form of New Borrower Deed Poll (clause 14.1

Deed Poll

	 	 	 
	New Borrower

	 	[Insert name and ABN/ACN or other registration number]
	 
	 	 
	 

	 	of: [Insert address]
	 
	 	 
	 

	 	Fax no:
	 
	 	 
	 

	 	Attention:
	 
	 	 
	CTDP

	 	James Hardie — Common Terms Deed Poll as amended and
restated on [•] 2009

BY THIS DEED POLL the New Borrower described above, for the benefit of each Creditor under the CTDP
described above:

	(a)	 	irrevocably agrees that from the date of this deed poll it is a Borrower under the CTDP;
	 
	(b)	 	irrevocably agrees to comply with and be bound by all current and future obligations of a
Borrower or an Obligor under the CTDP or any other Transaction Document to which it is a
party;
	 
	(c)	 	acknowledges having read a copy of the CTDP before signing this deed poll;
	 
	(d)	 	gives, as at the date of this deed poll, all representations and warranties on the part of a
Borrower or an Obligor contained in the CTDP; and
	 
	(e)	 	acknowledges receiving valuable consideration for this deed poll.

Clauses 1 (“Interpretation”) and 18.19 (“Governing law”) of the CTDP described above apply to this
deed poll as if they were fully set out in this deed poll.

DATED [Insert Date]

EXECUTED as a deed poll

[Insert execution clause for New Borrower]

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

59

 

James Hardie — Common Terms Deed Poll

Schedule 4 — Form of Release Request (clause 14.2)

[Date]

To: [Each relevant Creditor]

James Hardie — Common Terms Deed Poll — Release Request

We refer to the deed entitled James Hardie — Common Terms Deed Poll as amended and restated on [•]
2009 (“CTDP”).

	(a)	 	Release request
	 
	 	 	We request each of you release [Insert name of retiring Borrower] (“Retiring Borrower”)
from all liability under the CTDP pursuant to the attached Deed of Release.

	(b)	 	Representation and warranty
	 
	 	 	We represent and warrant that no Event of Default or Potential Event of Default is
continuing or will result from the release of the Retiring Borrower.

Clause 1 of the CTDP applies to this Release Request as if it was fully set out in this Release
Request.

	 	 	 
	For and on behalf of

	 	For and on behalf of
	James Hardie Industries N.V.

	 	[Insert the name of the retiring Borrower]
	(with corporate seat in Amsterdam)
	 	 
	 
	 	 
	 

	 	Authorised Officer: [Name]
	 
	 	 
	Authorised Officer: [Name]
	 	 

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

60

 

James Hardie — Common Terms Deed Poll

Schedule 5 — Form of Deed of Release (clause 14.2)

Deed of Release

	 	 	 
	Parties

	 	The Creditor, the Retiring Borrower and the Obligors’ Agent, as
described below.
	 
	 	 
	Creditor

	 	[Insert name and ABN/ACN or other registration number of a relevant
Creditor]
	 
	 	 
	Retiring
Borrower

	 	[Insert name and ABN/ACN or other registration number]
	 
	 	 
	Obligors’
Agent

	 	[     ] on behalf of each Obligor other than the Retiring Borrower.
	 
	 	 
	CTDP

	 	James Hardie — Common Terms Deed Poll as amended and restated on
[•] 2009.

The Creditor releases the Retiring Borrower described above from all liability under the CTDP
described above, with effect from [insert date or “the date of this deed”].

Nothing in this deed affects the obligations of the Retiring Borrower described above other than
under the CTDP.

Each Obligor (other than the Retiring Borrower) consents to this release and agrees that nothing in
this deed affects its obligations to the Creditor or the Creditor’s rights in respect of the
Obligors (other than the Retiring Borrower) under a Transaction Document.

Clauses 1 (“Interpretation”) and 18.19 (“Governing law”) of the CTDP described above apply to this
deed as if they were fully set out in this deed.

DATED [Insert date]

EXECUTED as a deed

[Insert execution clauses for (1) each Creditor, (2) the Obligors’ Agent (and its corporate seat)
on behalf of each Obligor other than the Retiring Borrower, and (3) the Retiring Borrower]

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

61

 

James Hardie — Common Terms Deed Poll

Signing page

DATED:           2009

	 	 	 	 	 	 	 
	SIGNED, SEALED AND

	 	 	)	 	 	 
	DELIVERED by

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	and

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	as attorneys for JAMES HARDIE INTERNATIONAL FINANCE LIMITED
 under power of

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	attorney dated

	 	 	)	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 Signature of witness	 	 	)	 	 	
By executing this amended and restated 
	 

	 	 	)	 	 	deed each attorney states that the
	 

	 	 	)	 	 	attorney has received no notice of
	
 

Name of witness (block letters)

	 	 	 
)	 	 	revocation of the power of attorney

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

62

 

	 	 	 	 	 	 	 
	SIGNED, SEALED AND

	 	 	)	 	 	 
	DELIVERED by

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	and

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	as attorneys for JAMES HARDIE BUILDING PRODUCTS, INC.under power of

	 	 	)	 	 	 
	 
	 	 	)	 	 	 
	attorney dated

	 	 	)	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 Signature of witness
	 	 	)	 	 	By executing this amended and restated 
	 

	 	 	)	 	 	deed each attorney states that the
	 

	 	 	)	 	 	attorney has received no notice of
	 

Name of witness (block letters)

	 	 	 
)	 	 	revocation of the power of attorney

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

63

 

	 	 	 	 	 	 	 
	SIGNED, SEALED AND

	 	 	)	 	 	 
	DELIVERED by

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	and

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	as attorneys for JAMES HARDIE

	 	 	)	 	 	 
	INDUSTRIES N.V. under power of

	 	 	)	 	 	 
	attorney dated

	 	 	)	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	)	 	 	 
	in the presence of:

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 

	 	 	)	 	 	 
	 Signature of witness
	 	 	)	 	 	By executing this amended and restated 
	 

	 	 	)	 	 	deed each attorney states that the
	 

	 	 	)	 	 	attorney has received no notice of
	 

Name of witness (block letters)

	 	 	 
)	 	 	revocation of the power of attorney

	 	 	 
	© Mallesons Stephen Jaques

	 	James Hardie — Common Terms Deed Poll
	10137271_8

	 	 

64exv4w12

Exhibit 4.12

James Hardie — Term Facility Agreement

Dated    2009

James
Hardie International Finance Limited (“Borrower” and “Obligors’ Agent”)

[•] (“Financier”)

     

Mallesons Stephen Jaques

Level 61

Governor Phillip Tower

1 Farrer Place

Sydney NSW 2000

Australia

T +61 2 9296 2000

F +61 2 9296 3999

DX 113 Sydney

www.mallesons.com

 

 

James Hardie — Term Facility Agreement 

Contents

	 	 	 	 	 
	Details
	 	 	1	 
	General terms
	 	 	3	 
	 
	 
	1 Definitions
	 	 	3	 
	 
	 	 	 	 
	1.1 Definitions
	 	 	3	 
	1.2 Interaction with the Common Terms Deed Poll
	 	 	5	 
	 
	 
	2 The Facility and Facility Limit
	 	 	6	 
	 
	 	 	 	 
	2.1 Financier to fund
	 	 	6	 
	2.2 Maximum accommodation
	 	 	6	 
	 
	 
	3 Using the Facility
	 	 	6	 
	 
	 	 	 	 
	3.1 Drawing down
	 	 	6	 
	3.2 Requesting a drawdown
	 	 	6	 
	3.3 Effect of a Drawdown Notice
	 	 	6	 
	3.4 Conditions to first drawdown
	 	 	6	 
	3.5 Conditions to all drawdowns
	 	 	7	 
	3.6 Benefit of conditions
	 	 	7	 
	3.7 Currency and timing of drawdowns
	 	 	7	 
	 
	 
	4 Interest
	 	 	7	 
	 
	 	 	 	 
	4.1 Interest charges
	 	 	7	 
	4.2 Selection of Interest Period
	 	 	7	 
	4.3 When Interest Periods begin and end
	 	 	8	 
	4.4 Limit on Interest Periods
	 	 	8	 
	4.5 Notification of interest
	 	 	8	 
	4.6 Market disruption
	 	 	8	 
	4.7 Alternative basis of interest or funding
	 	 	9	 
	 
	 
	5 Repaying and prepaying
	 	 	9	 
	 
	 	 	 	 
	5.1 Repayment
	 	 	9	 
	5.2 Prepayment
	 	 	9	 
	5.3 Prepayment and the Facility Limit
	 	 	9	 
	 
	 
	6 Payments
	 	 	10	 
	 
	 	 	 	 
	6.1 Payment by direction
	 	 	10	 
	6.2 Amount Owing
	 	 	10	 
	6.3 Application of payments — pre-default
	 	 	10	 
	6.4 Application of payments — post-default
	 	 	10	 
	 
	 
	7 Cancellation
	 	 	10	 
	 
	 
	8 Fees
	 	 	10	 
	 
	 	 	 	 
	8.1 Approval Fee
	 	 	10	 
	8.2 Commitment fee
	 	 	10	 

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

i

 

	 	 	 	 	 
	9 Interest on overdue amounts
	 	 	11	 
	 
	 	 	 	 
	9.1 Obligation to pay
	 	 	11	 
	9.2 Compounding
	 	 	11	 
	9.3 Interest following judgment
	 	 	11	 
	 
	10 Money Laundering
	 	 	11	 
	 
	11 Governing law
	 	 	12	 
	 
	Schedule 1 - Drawdown Notice (clause 3)
	 	 	13	 
	 
	Schedule 2 - Selection Notice (clause 4.2)
	 	 	15	 
	 
	Signing page
	 	 	16	 

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

ii

 

James Hardie — Term Facility Agreement

Details

Interpretation – Definitions are in clause 1.

	 	 	 	 	 
	Parties	 	Borrower, Obligors’ Agent
and Financier, each as described below.	 	 
	 
	 
	Borrower and

Obligors’ Agent

	 	Name
	 	James Hardie International Finance
Limited
	 
	 	 	 	 
	 

	 	Corporate seat
	 	Ireland
	 
	 	 	 	 
	 

	 	Registered Number
	 	471702 
	 
	 	 	 	 
	 

	 	Address
	 	[Arthur Cox Building
	 

	 	 	 	Earlsfort Terrace
	 

	 	 	 	Dublin 2
	 

	 	 	 	Ireland]
	 
	 	 	 	 
	 

	 	Fax
	 	[+353 1 618 0618]
	 
	 	 	 	 
	 

	 	Attention
	 	[Bradwell Limited, Company Secretary]
	 
	Financier

	 	Name
	 	[•] 
	 
	 	 	 	 
	 

	 	ABN
	 	[•] 
	 
	 	 	 	 
	 

	 	Address
	 	[•] 
	 
	 	 	 	 
	 

	 	Fax
	 	[•] 
	 
	 	 	 	 
	 

	 	Attention
	 	[•] 
	 
	Facility

	 	Description
	 	Revolving US$ cash advance facility.
	 
	 	 	 	 
	 

	 	Facility Limit
	 	US$ [•]
	 
	 	 	 	 
	 

	 	Maturity Date
	 	The [•] anniversary of the date of this agreement.
	 
	 	 	 	 
	 

	 	Currency
	 	US$ 
	 
	 	 	 	 
	 

	 	Interest Rate
	 	For an Interest Period, means LIBOR plus the Margin.
	 
	 	 	 	 
	 

	 	Margin
	 	[•]

	 	 	 	 	 
	 

	 	 
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

1

 

	 	 	 	 	 
	 

	 	 
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 

	 	 	 	 	 
	 
	 	 	 	 
	 

	 	Interest Periods
	 	Subject to clause 4.2 (“Selection of Interest
Period”), 1, 2, 3 or 6 months, or such other period as
agreed between the Borrower and Financier.
	 
	 	 	 	 
	 

	 	Purpose
	 	For general corporate purposes of the Group,
including, without limitation:
	 
	 	 	 	 
	 

	 	 	 	 •    to fund the Group’s working capital requirements;

	 
	 	 	 	 
	 

	 	 	 	 •    to refinance existing Financial Indebtedness and
pay related transaction costs;

	 
	 	 	 	 
	 

	 	 	 	 •    to fund or reimburse against capital expenditure
costs and payments to the Fund by any Group member; and/or

	 
	 	 	 	 
	 

	 	 	 	 •    to fund distributions or other capital payments (if
any).

	 
	Fees

(also see clause 8)

	 	Approval Fee
	 	[•]% of the Facility Limit, payable on the terms set
out in clause 8.1 (“Approval Fee”).
	 
	 
	 

	 	Commitment fee
	 	[•]% per annum of the applicable Margin calculated on the daily
balance of the Undrawn Facility Limit. It accrues and is payable on the
terms set out in clause 8.2 (“Commitment Fee”).
	 
	 
	Date of
agreement

	 	See Signing page	 	 

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

2

 

James Hardie — Term Facility Agreement

General terms

	1	 	Definitions
	 
	1.1	 	Definitions
	 
	 	 	Amount Owing means the total of all amounts which are then due for payment, or
which will or may become due for payment, in connection with any Financing Document
(including transactions in connection with them) to the Financier.
	 
	 	 	Availability Period means the period commencing on the date of this agreement and
ending on the Maturity Date or, if earlier, the date on which the Facility Limit is
cancelled in full.
	 
	 	 	Borrower means the person so described in the Details.
	 
	 	 	Common Terms Deed Poll means the deed poll entitled “James Hardie — Common Terms Deed
Poll” entered into by the Borrower and the Guarantor as amended and restated on or about
[•] 2009.
	 
	 	 	Default Rate means the applicable Interest Rate at the time plus 2% per annum. For
the purpose of this definition, the Interest accrues daily from (and including) the due
date to (but excluding) the date of actual payment and is calculated on actual days elapsed
and a year of 360 days as if the overdue amount is a cash advance with Interest Periods of
30 days (or another period chosen from time to time by the Financier) with the first
Interest Period starting on and including the due date.
	 
	 	 	Details means the section of this agreement headed “Details”.
	 
	 	 	Drawdown Date means the Business Day on which a drawdown of the Facility is or is to
be made but does not include a rollover of a Drawing on the last day of an Interest Period.
	 
	 	 	Drawdown Notice means a completed notice in writing, substantially in the form of, and
containing the information and representations and warranties set out in, schedule 1
(“Drawdown Notice”) and signed by an Authorised Officer of the Borrower.
	 
	 	 	Drawing means the outstanding principal amount of a drawdown made under the Facility.
	 
	 	 	Facility means the facility made available under this agreement.
	 
	 	 	Facility Limit means the amount set out as such in the Details, as reduced by the total of
all cancellations under this agreement.

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

3

 

	 	 	Fee Payment Date means each 31 March, 30 June, 30 September and 31 December after the date
of this agreement.
	 
	 	 	Financier means the person so described in the Details.
	 
	 	 	Financing Document means each of:

	 	(a)	 	this agreement;
	 
	 	(b)	 	the Common Terms Deed Poll;
	 
	 	(c)	 	the Guarantee and Subordination Documents;
	 
	 	(d)	 	each Drawdown Notice;
	 
	 	(e)	 	each Selection Notice;
	 
	 	(f)	 	any other document which the Borrower and the Financier agree to be a
Financing Document; and
	 
	 	(g)	 	any document entered into for the purpose of amending or novating any of
the above.

	 	 	Interest Payment Date means, in respect of an Interest Period, the last day of that
Interest Period.
	 
	 	 	Interest Period means each period selected in accordance with clause 4.2 (“Selection
of Interest Period”).
	 
	 	 	Interest Rate means, subject to clause 4.6 (“Market disruption”), the interest rate
set out in the Details.
	 
	 	 	LIBOR means, in relation to any Drawing:

	 	(a)	 	the applicable British Bankers’ Association Interest Settlement Rate for
US$ and the relevant period displayed on the appropriate page of the Reuters screen
(but if the agreed page is replaced or service ceases to be available, the Financier
may specify another page or service displaying the appropriate rate after
consultation with the Borrower) (“Screen Rate”); or
	 
	 	(b)	 	(if no Screen Rate is available for US$ and the Interest Period of that
Drawing) the arithmetic mean of the rates (rounded upwards to four decimal places) as
supplied to the Financier at its request quoted by the principal London offices of at
least three leading international banks chosen by the Financier in consultation with
the Borrower to other leading banks in the London interbank market,

	 	 	as of 11:00am (London time) on the day two Business Days before the first day of an
Interest Period for which the interest rate is to be determined for the offering of
deposits in US$ and for a period comparable to the Interest Period for that Drawing.
	 
	 	 	Margin means on any day, the margin set out in the Details.

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

4

 

	 	 	Market Disruption Event means:

	 	(a)	 	at or about noon on the day two Business Days before the first day of an
Interest Period for which the interest rate is to be determined, by reason of
circumstances affecting the London interbank market for US$, the “LIBOR” component of
the Interest Rate cannot be determined; or
	 
	 	(b)	 	before close of business in London on the day two Business Days before the
first day of an Interest Period for which the interest rate is to be determined, the
Financier determines that the cost to it of obtaining matching deposits in the London
interbank market would be in excess of LIBOR.

	 	 	Maturity Date means the maturity date for the Facility as set out in the Details, but
if that is not a Business Day, then the preceding Business Day.
	 
	 	 	Selection Notice means a notice under clause 4.2(b) (“Selection of Interest Period”),
to be substantially in the form of schedule 2 (“Selection Notice”).
	 
	 	 	Undrawn Facility Limit means the Facility Limit less the aggregate of all Drawings
outstanding.

	1.2	 	Interaction with the Common Terms Deed Poll

	 	(a)	 	The Borrower acknowledges that:

	 	(i)	 	the Financier is a Creditor; and
	 
	 	(ii)	 	this agreement is a Facility Agreement,

	 	 	 	for the purposes of the Common Terms Deed Poll.
	 
	 	(b)	 	On execution of this agreement, the provisions of the Common Terms Deed
Poll (subject to paragraph (d) below) are incorporated into this agreement to the
intent and effect that any such provision for the benefit of a Creditor or the
Borrower (as defined in the Common Terms Deed Poll) may be enforced by the Financier
or the Borrower to the same extent as if the Financier was a party to the Common
Terms Deed Poll.
	 
	 	(c)	 	A term which has a defined meaning (including by reference to another
document) in the Common Terms Deed Poll has the same meaning when used in this
agreement unless it is expressly defined in this agreement, in which case the meaning
in this agreement prevails.
	 
	 	(d)	 	Where a conflict arises between a provision of the Common Terms Deed Poll
and this agreement, the Common Terms Deed Poll will prevail unless the provision in
this agreement includes words substantially to the effect of “Despite the terms of
the Common Terms Deed Poll”, in which case the relevant provision of this agreement
prevails.

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

5

 

	2	 	The Facility and Facility Limit
	 
	2.1	 	Financier to fund
	 
	 	 	The Financier agrees to provide to the Borrower the financial accommodation
requested by the Obligors’ Agent under this agreement.
	 
	2.2	 	Maximum accommodation
	 
	 	 	The financial accommodation to be provided under this agreement must not exceed the
Facility Limit.
	 
	3	 	Using the Facility
	 
	3.1	 	Drawing down
	 
	 	 	The Borrower need not use the Facility. However, if the Borrower wants to use the
Facility, it may do so by one or more drawdowns.
	 
	3.2	 	Requesting a drawdown

	 	(a)	 	If the Borrower wants a drawdown, the Obligors’ Agent must provide a written
Drawdown Notice to the Financier by 11:00am (London time) at least 2 Business Days
prior to the requested Drawdown Date (or such later time as the Financier may agree).
	 
	 	(b)	 	The minimum amount of a Drawing is the lesser of:

	 	(i)	 	US$1,000,000; and
	 
	 	(ii)	 	the Undrawn Facility Limit.

	 	(c)	 	Unless the Drawing is for the Undrawn Facility Limit, the Drawing must be
in integral multiples of $500,000.

	3.3	 	Effect of a Drawdown Notice
	 
	 	 	A Drawdown Notice is effective when the Financier actually receives it in legible
form. An effective Drawdown Notice is irrevocable.
	 
	3.4	 	Conditions to first drawdown
	 
	 	 	The Borrower agrees not to request the first drawdown, and a Financier is not
obliged to provide the first drawdown, unless:

	 	(a)	 	all the conditions precedent listed in clause 3 (“Conditions precedent”) of
the Common Terms Deed Poll have been either satisfied or waived in accordance with
that agreement; and
	 
	 	(b)	 	a completed Facility Nomination Letter nominating this agreement as a
Facility Agreement has been received by the Financier.

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

6

 

	3.5	 	Conditions to all drawdowns
	 
	 	 	In addition to the conditions precedent in clause 3 (“Conditions precedent”) of the
Common Terms Deed Poll, the Financier need not provide any financial accommodation on a
Drawdown Date unless it is satisfied that:

	 	(a)	 	the Drawdown Date is a Business Day during the Availability Period for the
Facility;
	 
	 	(b)	 	the amount of the Drawing equals or exceeds the minimum drawdown amount set
out in clause 3.2(b) (“Requesting a drawdown”);
	 
	 	(c)	 	after the Drawing has been made, the sum of all outstanding Drawings will
not exceed the Facility Limit;
	 
	 	(d)	 	the Financier has received a Drawdown Notice in respect of the requested
drawdown in accordance with clause 3.2 (“Requesting a drawdown”); and
	 
	 	(e)	 	the proposed Drawing is for one or more of the purposes set out in the
Details.

	3.6	 	Benefit of conditions
	 
	 	 	Each condition to a drawdown is for the sole benefit of the Financier and may only
be waived by the Financier.
	 
	3.7	 	Currency and timing of drawdowns
	 
	 	 	The Financier agrees to make each drawdown available to the account specified in
the relevant Drawdown Notice in immediately available US$ funds by 2:00pm (London time) on
the relevant Drawdown Date.
	 
	4	 	Interest
	 
	4.1	 	Interest charges
	 
	 	 	The Borrower must pay interest on each Drawing for each of its Interest Periods at
the applicable Interest Rate. Interest:

	 	(a)	 	accrues daily from and including the first day of an Interest Period to but
excluding the last day of the Interest Period; and
	 
	 	(b)	 	is payable in arrears on each relevant Interest Payment Date; and
	 
	 	(c)	 	is calculated on actual days elapsed and a year of 360 days.

	4.2	 	Selection of Interest Period
	 
	 	 	An Interest Period for a Drawing is:

	 	(a)	 	for the first Interest Period, the period specified in the Drawdown Notice
for that Drawing; and

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

7

 

	 	(b)	 	for each subsequent Interest Period, a period notified in a Selection
Notice given by the Borrower to the Financier on the Business Day before the last day
of the current Interest Period. However, in each case, the specified period must be
one that is set out in the Details. If the Obligors’ Agent does not give correct
notice, the subsequent Interest Period is the same length as the Interest Period
which immediately precedes it (or it is the period until the Maturity Date, if that
is shorter than the preceding Interest Period).

	4.3	 	When Interest Periods begin and end

	 	(a)	 	An Interest Period for a Drawing begins:

	 	(i)	 	for the first Interest Period, on its Drawdown Date; and
	 
	 	(ii)	 	for each subsequent Interest Period, on the day when the
preceding Interest Period for the Drawing ends.

	 	(b)	 	An Interest Period which would otherwise end on a day which is not a
Business Day ends on the next Business Day (unless that day falls in the following
month, in which case the Interest Period ends on the previous Business Day).
However, an Interest Period which would otherwise end after the Maturity Date ends on
the Maturity Date.
	 
	 	(c)	 	If an Interest Period of one or a number of months commences on a date in a
month for which there is no corresponding date in the month in which the Interest
Period is to end, it will end on the last Business Day of the latter month.

	4.4	 	Limit on Interest Periods
	 
	 	 	In selecting Interest Periods under clause 4.2 (“Selection of Interest Period”),
the Obligors’ Agent must ensure that there are no more than 5 different Interest Periods
at any one time.
	 
	4.5	 	Notification of interest
	 
	 	 	Interest on a Drawing is payable in immediately available funds.
	 
	 	 	The Financier will notify the Obligors’ Agent of the interest rates determined under this
agreement as soon as they are ascertained. Failure to do so will not affect the
obligations of the Borrower in any way.
	 
	4.6	 	Market disruption
	 
	 	 	If a Market Disruption Event occurs in relation to a Drawing for any Interest
Period, then the Interest Rate on that Drawing for the Interest Period shall be the rate
per annum which is the sum of:

	 	(a)	 	the Margin; and
	 
	 	(b)	 	the rate notified by the Financier as soon as practicable and in any event
before interest is due to be paid in respect of that Interest Period, to be that
which expresses as a percentage rate per annum the

	 	 	 
	Ó Mallesons Stephen Jaques 

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	 	James Hardie — Term Facility Agreement

8

 

	 	 	 	cost to the Financier of funding its participation in that Drawing from whatever
source it may reasonably select.

	4.7	 	Alternative basis of interest or funding

	 	(a)	 	If a Market Disruption Event occurs and the Financier or the Borrower so
requires, the Financier and the Borrower shall enter into negotiations (for a period
of not more than thirty days) with a view to agreeing a substitute basis for
determining the rate of interest.
	 
	 	(b)	 	Any alternative basis agreed pursuant to paragraph (a) above shall, with
the prior consent of the Financier and the Borrower, be binding on each of them.

	5	 	Repaying and prepaying
	 
	5.1	 	Repayment
	 
	 	 	The Borrower agrees to repay the total of the Drawings and all interest and other
amounts (including default interest) which have accrued or which are otherwise payable
(but unpaid) in respect of this agreement on the Maturity Date.
	 
	5.2	 	Prepayment
	 
	 	 	The Borrower may prepay all or part of a Drawing as follows:

	 	(a)	 	if only part of a Drawing is prepaid, it must be at least US$1,000,000 and
a whole multiple of US$500,000, or such lesser amount as may be agreed by the
Financier (at its discretion) from time to time; and
	 
	 	(b)	 	the Borrower must also pay all accrued (but unpaid) interest on that
Drawing; and
	 
	 	(c)	 	the Obligors’ Agent must notify the proposed prepayment in writing to the
Financier at least 10 Business Days prior to the date of the requested prepayment (as
at close of business Sydney time) (once given, a notice of prepayment is irrevocable
and the Borrower is obliged to prepay in accordance with the notice).

	 	 	If the prepayment is made on an Interest Payment Date for the Drawing to be prepaid, no
Break Costs are payable. However, if the Borrower prepays on a day other than the
Interest Payment Date for the Drawing to be prepaid and the Financier incurs any Break
Costs as a result of such prepayment, then the Borrower will be liable for Break Costs (if
any) under clause 12 (“Costs and indemnities”) of the Common Terms Deed Poll.
	 
	5.3	 	Prepayment and the Facility Limit
	 
	 	 	The Facility Limit is not reduced by amounts prepaid under clause 5.2
(“Prepayment”).

	 	 	 
	Ó Mallesons Stephen Jaques 

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	 	James Hardie — Term Facility Agreement

9

 

	6	 	Payments
	 
	6.1	 	Payment by direction
	 
	 	 	If the Financier directs the Borrower to pay a particular party or in a particular
manner, the Borrower is taken to have satisfied its obligation to the Financier by paying
in accordance with the direction.
	 
	6.2	 	Amount Owing
	 
	 	 	Subject to the provisions of any Financing Document, the Borrower agrees to repay
the Amount Owing on the Maturity Date under this agreement.
	 
	6.3	 	Application of payments — pre-default
	 
	 	 	Prior to an Event of Default, the Financier will apply amounts paid by the Borrower
in accordance with the terms of the Financing Documents.
	 
	6.4	 	Application of payments — post-default
	 
	 	 	If an Event of Default subsists, the Financier may apply amounts paid by the
Borrower towards satisfaction of the Borrower’s obligations under the Financing Documents
in the manner it sees fit, unless the Financing Documents expressly provide otherwise.
This appropriation overrides any purported appropriation by the Borrower or any other
person.
	 
	7	 	Cancellation
	 
	 	 	The Borrower may cancel the Undrawn Facility Limit in whole or in part at any time
during the Availability Period by notifying the Financier in writing at least 2 Business
Days prior to the date the cancellation is to take effect. A partial cancellation must be
at least US$1,000,000, unless the Financier agrees otherwise. Once given, the notice is
irrevocable. The Facility Limit is reduced by the amount of any cancellation.
	 
	 	 	The Facility Limit is automatically cancelled at 5:30pm (London time) on the last day of
the Availability Period.
	 
	8	 	Fees
	 
	8.1	 	Approval Fee
	 
	 	 	The Borrower agrees to pay on execution of this agreement, an Approval Fee as set
out in the Details.
	 
	8.2	 	Commitment fee
	 
	 	 	The Borrower agrees to pay in arrears on each Fee Payment Date, on any cancellation
date described below and on the Maturity Date, the accrued but unpaid commitment fee as
set out in the Details.
	 
	 	 	If the Borrower cancels any of the Undrawn Facility Limit, it also agrees to pay on the
cancellation date, the commitment fee in respect of the cancelled

	 	 	 
	Ó Mallesons Stephen Jaques 
10065177_4

	 	James Hardie — Term Facility
Agreement

10

 

	 	 	amount from (but
excluding) the last Fee Payment Date up to and including the cancellation date.
	 
	 	 	The commitment fee is calculated on actual days elapsed using a 360 day year.
	 
	9	 	Interest on overdue amounts
	 
	 	 	This clause applies despite the provisions of the Common Terms Deed Poll.       
	 
	9.1	 	Obligation to pay
	 
	 	 	If the Borrower does not pay any amount under or in respect of this agreement
(including an amount of interest payable under this clause 9.1) on the due date for
payment, the Borrower must pay interest on that amount at the Default Rate. The interest
accrues daily from (and including) the due date to (but excluding) the date of actual
payment and is calculated on actual days elapsed and a year of 360 days.
	 
	 	 	The Borrower must pay interest under this clause to the Financier on demand from the
Financier on the last Business Day of each calendar month.
	 
	9.2	 	Compounding
	 
	 	 	Interest payable under clause 9.1 (“Obligation to pay”) which is not paid when due
for payment may be added to the overdue amount by the Financier on the last Business Day
of each calendar month. Interest is payable on the increased overdue amount at the
Default Rate in the manner set out in clause 9.1 (“Obligation to pay”).
	 
	9.3	 	Interest following judgment
	 
	 	 	If a liability becomes merged in a judgment, the Borrower must pay interest on the
amount of that liability as an independent obligation. This interest:

	 	(a)	 	accrues daily from (and including) the date the liability becomes due for
payment both before and after the judgment up to (but excluding) the date the
liability is paid; and
	 
	 	(b)	 	is calculated at the judgment rate or the Default Rate (whichever is
higher).

	 	 	The Borrower must pay interest under this clause to the Financier on demand from the
Financier.
	 
	10	 	Money Laundering
	 
	 	 	The Borrower agrees that the Financier may delay, block, or refuse to make any
payment if the Financier believes on reasonable grounds that making that payment will
breach any law in Australia or any other country where such
payment is to be made, and the Financier will incur no liability to the Borrower if it
does so.

	 	 	 
	Ó Mallesons Stephen Jaques 

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	 	James Hardie — Term Facility Agreement

11

 

	 	 	The Borrower must provide all information to the Financier that the Financier reasonably
requires to comply with any law in Australia or any other country. The Borrower agrees the
Financier may disclose information which it provides to the Financier where required by
any law in Australia or any other country.
	 
	 	 	Unless the Borrower has disclosed that it is acting in a trustee capacity or on behalf of
another party, the Borrower warrants that it is acting on its own behalf in applying for
and using any of the Financier’s products or services.
	 
	 	 	The Borrower declares and undertakes to the Financier that the payment of monies by the
Financier in accordance with any written instructions given by the Borrower will not
breach any law in Australia or any other country where such money is to be paid.
	 
	11	 	Governing law
	 
	 	 	This agreement is governed by the law in force in New South Wales and the Borrower
submits to the non-exclusive jurisdiction of the courts of that place.

EXECUTED as an agreement.

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

12

 

James Hardie — Term Facility Agreement

Schedule 1 — Drawdown Notice (clause 3)

To: [                    ]

Attention: [                    ]

Fax: [                    ]

[Date]

Drawdown Notice — James Hardie — Term Facility Agreement dated [          ] 2009 between James Hardie
International Finance Limited (“Borrower” and
“Obligors’ Agent”) and
[          ]
(“Financier”) (“Facility Agreement”)

Under clause 3.2 (“Requesting a drawdown”) of the Facility Agreement, the Obligors’ Agent gives
notice as follows.1 

The Borrower wants to borrow under the Facility.

	•	 	The requested Drawdown Date is [          ].2
	 
	•	 	The amount of the proposed drawdown is US$[          ].
	 
	•	 	The requested first Interest Period is [          ].
	 
	•	 	The proposed drawdown is to be paid to:
	 
	 	 	Account number: [          ]
	 
	 	 	Account name: [          ]
	 
	 	 	Bank: [          ]
	 
	 	 	Branch: [          ]
	 
	 	 	Branch identifying number (Fedwire, BSB, etc): [          ]

Representations and Warranties

The Borrower represents and warrants that:

[for the first Drawdown only]: the representations and warranties in clause 8 (“Representations and
warranties”) of the Common Terms Deed Poll are correct and not misleading on the date of this
notice and that each will be correct and not misleading on the Drawdown Date.

[for any subsequent Drawdown]: those representations and warranties listed in clause 3.2(a)
(“Conditions to subsequent drawdowns”) of the Common Terms Deed Poll as required to be true on the
date of each drawdown notice, are correct and not misleading on the date of this notice and that
each will be correct and not misleading on the Drawdown Date.

No Event of Default or Potential Event of Default subsists at the date of this notice or will
result from the provision of the requested utilisation.

	 	 	 
	Ó Mallesons Stephen Jaques 

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	 	James Hardie — Term Facility Agreement

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Clause 1 (“Definitions”) of the Facility Agreement applies to this notice as if it was fully set
out in this notice.

                                      
                      

[Name of person] being

an Authorised Officer of

James Hardie International Finance Limited

as Obligors’ Agent (with corporate seat in Ireland)

Instructions for completion

	1	 	All items must be completed.
	 
	2	 	Must be a Business Day within the Availability Period.

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

14

 

James Hardie — Term Facility Agreement

Schedule 2 — Selection Notice (clause 4.2)

To: [                    ]

Attention: [                    ]

Fax: [                    ]

[Date]

Selection Notice — James Hardie — Term Facility Agreement dated [     ] 2009 between James Hardie
International Finance Limited (“Borrower” and
“Obligors’ Agent”) and
[                    ]
(“Financier”) (“Facility Agreement”)

Terms defined in the Facility Agreement have the same meaning when used in this notice.

This is an irrevocable notice under clause 4.2 (“Selection of Interest Period”) of the Facility
Agreement.

Under clause 4.2 (“Selection of Interest Period”) of the Facility Agreement, the Obligors’ Agent
gives notice as follows:

The current Interest Period is due to end on [                    ].

The Interest Period following the current Interest Period is to be a period of
[                    ]1.

                                      
                      

[Name of person] being

an Authorised Officer of

James Hardie International Finance Limited

as Obligors’ Agent (with corporate seat in Ireland)

Instructions for completion

	1	 	To be an Interest Period set out in the Details

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

15

 

James Hardie — Term Facility Agreement

Signing page

	 	 	 	 	 	 	 
	DATED:

	 	 	2009	 	 	 
	 
	 	 	 	 	 	 
	Borrower and Obligors’ Agent
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	SIGNED by

	 	) 
	 	 
	 

	 	) 
	 	 
	and

	 	) 
	 	 
	 

	 	) 
	 	 
	as attorneys for JAMES HARDIE

	 	) 
	 	 
	INTERNATIONAL FINANCE

	 	) 
	 	 
	LIMITED under power of attorney

	 	) 
	 	 
	dated

	 	) 
	 	 
	 

	 	) 
	 	 
	in the presence of:

	 	) 
	 	 
	 

	 	) 
	 	 
 
	 

	 	) 
	 	By executing this agreement each
	Signature of witness

	 	) 
	 	attorney states that the attorney has
	 
	 

	 	) 
	 	received no notice of revocation of
	Name of witness (block letters)

	 	) 
	 	the power of attorney
	 
	 	 	 	 	 	 
	Financier
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	SIGNED by

	 	) 
	 	 
	 

	 	) 
	 	 
	as attorney for [FINANCIER] under

	 	) 
	 	 
	power of attorney dated

	 	) 
	 	 
	in the presence of:

	 	) 
	 	 
	 

	 	) 
	 	 
	 

	 	) 
	 	 
	 

	 	) 
	 	 
	 

	 	) 
	 	 
	 

	 	) 
	 	 
	Signature of witness

	 	) 
	 	 
	 

	 	) 
	 	 
	 

	 	) 
	 	 
 
	 

	 	) 
	 	By executing this agreement the
	Name of witness (block letters)

	 	) 
	 	attorney states that the attorney has
	 

	 	) 
	 	received no notice of revocation of
	 

	 	) 
	 	the power of attorney

	 	 	 
	Ó Mallesons Stephen Jaques 

10065177_4

	 	James Hardie — Term Facility Agreement

16

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