Document:

EX-10.1

 Exhibit 10.1 

WAIVER TO CREDIT AND GUARANTY AGREEMENT 

THIS WAIVER TO CREDIT AND GUARANTY AGREEMENT (this “Waiver”), dated as of November 1, 2022, is made by and
among ATHENEX, INC., a Delaware corporation (as applicable, the “Borrower”), the Lenders party hereto and OAKTREE FUND ADMINISTRATION, LLC, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”). 
 WHEREAS, the parties hereto are party to that certain Credit and Guaranty Agreement, dated as of June 19,
2020 (as amended by that certain First Amendment and Limited Waiver to Credit and Guaranty Agreement, dated as of June 3, 2021, that certain Second Amendment to Credit and Guaranty Agreement, dated December 14, 2021, that certain Third
Amendment to Credit and Guaranty Agreement and First Amendment to Warrants, dated as of January 19, 2022, that certain Fourth Amendment to Credit and Guaranty Agreement, Second Amendment to the Warrants and Partial Release of Collateral, dated
as of June 21, 2022, that certain Fifth Amendment to Credit and Guaranty Agreement, dated as of June 29, 2022, that certain Sixth Amendment to Credit and Guaranty Agreement, dated as of August 14, 2022 and as further amended, restated
or modified from time to time, the “Credit Agreement”) by and among the Borrower, the Guarantors party thereto from time to time, the Lenders party thereto from time to time, and the Administrative Agent; 

WHEREAS, the upfront Net Cash Proceeds from China API Sale are expected to be received on or about November 2, 2022 (such Net Cash
Proceeds, the “Upfront China API Sale Proceeds”); 
 WHEREAS, Section 3.03(b)(i) of the Credit Agreement
requires that the Borrower make a mandatory prepayment in respect of Net Proceeds from certain Assets Sales in certain circumstances, subject to Section 3.03(b)(iv)(B); and 

WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent agree to waive any mandatory prepayment obligations
pursuant to Section 3.03(b)(i) of the Credit Agreement in respect of the Upfront China API Sale Proceeds. 
 NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows. 
 SECTION 1
Capitalized Terms. All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 

SECTION 2 Waiver. The Administrative Agent and the Lenders hereby waive the mandatory prepayment obligations pursuant to Section 3.03(b)(i)
of the Credit Agreement in respect of the Upfront China Sale Proceeds.. 
 SECTION 3 Miscellaneous. 

(a) Binding Effect. This Waiver binds and is for the benefit of the successors and permitted assigns of each party. 

(b) Limited Waiver. Except as specifically modified above, (i) the Credit Agreement and all other Loan Documents shall remain in
full force and effect, and are hereby ratified and confirmed and (ii) the execution, delivery and effectiveness of this Waiver shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders nor constitute
a waiver of any provision of the Credit Agreement or any of the Loan Documents. None of the Administrative Agent or any Lender is under any obligation to enter into this Waiver. The entering into this Waiver by such parties shall not be deemed to
limit or hinder any rights of any such party under the Loan Documents, nor, except as provided in Section 2, as applicable, shall it be deemed to create or infer a course of dealing between any such party, on the one hand, and the Borrower, on
the other hand, with regard to any provision of the Loan Documents. 

  
 1 

 (c) Governing Law. THIS WAIVER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED
BY THE LAWS OF THE STATE OF NEW YORK. 
 (d) Severability of Provisions. Each provision of this Waiver is severable from every
other provision in determining the enforceability of any provision. 
 (e) Counterparts. This Waiver may be executed in any number of
counterparts and by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Waiver. Delivery of an executed counterpart of a signature page of this Waiver by
facsimile, portable document format (.pdf) or other electronic transmission will be as effective as delivery of a manually executed counterpart hereof. 

(f) Loan Documents. This Waiver and the documents related thereto shall constitute Loan Documents. 

(g) Electronic Execution of Certain Other Documents. The words “execution,” “execute”, “signed,”
“signature,” and words of like import in or related to any document to be signed in connection with this Waiver and the transactions contemplated hereby (including without limitation assignments, assumptions, amendments, waivers and
consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which
shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal
Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

[Balance of Page Intentionally Left Blank; Signature Pages Follow] 

 

  
 2 

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

							
	BORROWER AND ISSUER:	 		 	ATHENEX, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Johnson Y.N. Lau 

		 		 	Name: Dr. Johnson Y.N. Lau
		 		 	Title: Chairman and Chief Executive Officer

  
 [Signature Page to
Waiver] 

 
					
	ADMINISTRATIVE AGENT:
	
	OAKTREE FUND ADMINISTRATION, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Managing Member
		
	By:	 	 /s/ Jessica Dombroff

		 	Name:	 	Jessica Dombroff
		 	Title:	 	Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name:	 	Maria Attaar
		 	Title:	 	Vice President

  
 [Signature Page to
Waiver] 

 
					
	LENDERS:
	
	OAKTREE-TCDRS STRATEGIC CREDIT, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
					
	EXELON STRATEGIC CREDIT HOLDINGS, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
					
	OAKTREE-NGP STRATEGIC CREDIT, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE-MINN STRATEGIC CREDIT LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE-FORREST MULTI-STRATEGY LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE-TBMR STRATEGIC CREDIT FUND C, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE-TBMR STRATEGIC CREDIT FUND F, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE-TBMR STRATEGIC CREDIT FUND G, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE-TSE 16 STRATEGIC CREDIT, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	INPRS STRATEGIC CREDIT HOLDINGS, LLC
		
	By:	 	Oaktree Capital Management, L.P.
	Its:	 	Manager
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	 OAKTREE HUNTINGTON-GCF INVESTMENT FUND, L.P.

		
	By:	 	Oaktree Huntington-GCF Investment Fund GP, L.P.
	Its:	 	General Partner
		
	By:	 	Oaktree Huntingon-GCF Investment Fund GP, LLC
	Its:	 	General Partner
		
	By:	 	Oaktree Fund GP I, L.P.
	Its:	 	Managing Member
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Authorized Signatory
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Authorized Signatory

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE STRATEGIC INCOME II, INC.
		
	By:	 	Oaktree Fund Advisors, LLC
	Its:	 	Investment Advisor
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
			
	OAKTREE SPECIALTY LENDING CORPORATION
		
	By:	 	Oaktree Fund Advisors, LLC
	Its:	 	Investment Adviser
		
	By:	 	 /s/ Jessica Dombroff

		 	Name: Jessica Dombroff
		 	Title: Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name: Maria Attaar
		 	Title: Vice President

  
 [Signature Page to
Waiver] 

 
					
	OAKTREE STRATEGIC INCOME CORPORATION
		
	By:	 	Oaktree Fund Advisors, LLC
	Its:	 	Investment Adviser
		
	By:	 	 /s/ Jessica Dombroff

		 	Name:	 	Jessica Dombroff
		 	Title:	 	Vice President
		
	By:	 	 /s/ Maria Attaar

		 	Name:	 	Maria Attaar
		 	Title:	 	Vice President

  
 [Signature Page to
Waiver] 

 
					
	OAKTREE GILEAD INVESTMENT FUND, L.P.
		
	By:	 	Oaktree Gilead Investment Fund GP, L.P.
	Its:	 	General Partner
		
	By:	 	Oaktree Fund GP, LLC
	Its:	 	General Partner
		
	By:	 	Oaktree Fund GP I, L.P.
	Its:	 	Managing Member
		
	By:	 	 /s/ Jessica Dombroff

		 	Name:	 	Jessica Dombroff
		 	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Maria Attaar

		 	Name:	 	Maria Attaar
		 	Title:	 	Authorized Signatory

  
 [Signature Page to
Waiver] 

 
			
	SAGARD HEALTHCARE ROYALTY PARTNERS, LP, acting through its general partner, SAGARD HEALTHCARE ROYALTY PARTNERS GP LLC
		
	By:	 	 /s/ Adam Vigna

		 	 Name: Adam Vigna
 Title: Managing
Partner & Chief Investment Officer

		
	By:	 	 /s/ Jason Sneah

		 	 Name: Jason Sneah
 Title: Manager

	
	OPB SHRP CO-INVEST CREDIT LIMITED
		
	By:	 	 /s/ Jennifer Hartviksen

		 	 Name: Jennifer Hartviksen
 Title: Managing
Director, Global Credit

		
	By:	 	  

		 	 Name:
 Title:

  
 [Signature Page to
Waiver] 

 
			
	SIMCOE SHRP CO-INVEST CREDIT LTD.
		
	By:	 	 /s/ Jennifer Hartviksen

		 	 Name: Jennifer Hartviksen
 Title: Managing
Director, Global Credit

		
	By:	 	  

		 	 Name:
 Title:

  
 [Signature Page to
Waiver]EX-4.12

  EXHIBIT 4.12

  ASHLAND GLOBAL HOLDINGS INC.

   

  and

   

  U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION

  as Trustee

  ____________________

   

  3.375% SENIOR NOTES DUE 2031

  ____________________

  
SUPPLEMENTAL INDENTURE NO. 1

   

  DATED AS OF AUGUST 1, 2022

   

  to

   

  INDENTURE

   

  DATED AS OF AUGUST 18, 2021

   

  ____________________

   

   

   

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  SUPPLEMENTAL INDENTURE NO. 1, dated as of August 1, 2022, among Ashland Global Holdings Inc., a Delaware corporation (“Parent”), and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), under the hereafter defined Indenture.

  WHEREAS, Ashland LLC, a Kentucky limited liability company and wholly owned, indirect subsidiary of Parent (“LLC”), and Parent, as guarantor, heretofore executed and delivered to the Trustee an Indenture dated as of August 18, 2021 (the “Indenture”), in respect of LLC’s 3.375% Senior Notes due 2031 (the “Notes”); and

  WHEREAS, on August 1, 2022, pursuant to Parent’s corporate restructuring plan, Parent, Ashland Chemco Inc. (“Chemco”) and LLC will effect a series of concurrent mergers (the “Mergers”) whereby LLC will be merged with and into Chemco (with Chemco being the surviving company) and, immediately thereafter, Chemco will be merged with and into Parent (with Parent being the surviving company); and

  WHEREAS, Section 5.01(a)(ii) of the Indenture requires Parent, after the consummation of the Mergers, to agree to pay the principal of and any premium and interest on, the Notes, and perform and observe all covenants and conditions of the Indenture, in each case, by executing and delivering to the Trustee a supplemental indenture; and

  WHEREAS, Parent proposes in and by this Supplemental Indenture No. 1 (the “Supplemental Indenture”) to supplement and amend the Indenture in certain respects as it applies to the Notes issued thereunder; and

  WHEREAS, the execution and delivery of this Supplemental Indenture has been duly and validly authorized by each of Chemco and Parent; and

  WHEREAS, pursuant to Section 9.01(a)(ii) of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture without notice to or consent of any holder of the Notes; and

  WHEREAS, all the conditions and requirements necessary to make this Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed and fulfilled by Parent and the execution and delivery hereof has been in all respects duly authorized by Parent.

  NOW, THEREFORE, in consideration of the above premises, each party agrees, for the benefit of the other and for the equal and ratable benefit of the holders of the Notes, as follows:

   

  ARTICLE ONE

  REAFFIRMATION AND ACCESSION

  SECTION 1.01. Assumption and Agreements. 

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  (a)	Parent hereby expressly assumes all of the obligations of LLC as the Issuer under the Indenture and the Notes, including payment of the principal of, and any premium and interest on, the Notes, and agrees to perform and observe all covenants and conditions of the Indenture on the part of the Issuer to be performed or observed.  Parent further agrees that as of the date of this Supplemental Indenture, Parent hereby succeeds to and is substituted for and may exercise every right and power of the “Issuer” under the Indenture with the same effect as if Parent had been named as the Issuer in the Indenture. 

   

  ARTICLE TWO

  MISCELLANEOUS PROVISIONS

  SECTION 2.01. Terms Defined. For all purposes of this Supplemental Indenture, except as otherwise defined or unless the context otherwise requires, terms used in capitalized form in this Supplemental Indenture and defined in the Indenture have the meanings specified in the Indenture.

  SECTION 2.02. Indenture. Except as amended hereby, the Indenture and the Notes are in all respects ratified and confirmed and all the terms shall remain in full force and effect. 

  SECTION 2.03. Provisions of General Application. The provisions of Sections 11.09, 11.13 and 11.14 of the Indenture shall apply to this Supplemental Indenture mutatis mutandis. 

  SECTION 2.04.  Indemnity. The Issuer shall indemnify and hold harmless the Trustee and Agents and their respective directors, employees and agents against any and all loss, liability, claim, damage or expense (including reasonable attorneys’ fees and expenses except for such actions to the extent caused by any negligence, bad faith or willful misconduct on their part) incurred by or in connection with the execution of this Supplemental Indenture the performance of its duties hereunder, including the costs and expenses of enforcing this Supplemental Indenture against the Issuer (including this Section 2.04) and defending itself against or investigating any claim (whether asserted by the Issuer, any holder of the Notes or any other Person). The Trustee and Agents shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; provided, however, that any failure so to notify the Issuer shall not relieve the Issuer of its indemnity obligations hereunder. The Issuer shall defend the claim and the indemnified party shall provide reasonable cooperation at the Issuer’s expense in the defense. Such indemnified parties may have separate counsel and the Issuer shall pay the fees and expenses of such counsel; provided, however, that the Issuer shall not be required to pay such fees and expenses if it assumes such indemnified parties’ defense and, in such indemnified parties’ reasonable judgment, there is no conflict of interest between the Issuer and such indemnified parties in connection with such defense; provided, further, that, unless the Issuer otherwise agrees in writing, the Issuer shall not be liable to pay fees and expenses of more than one counsel at any given time located within one particular jurisdiction. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense incurred by an indemnified party through such party’s own willful misconduct, negligence or bad faith.

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  SECTION 2.05. Severability. In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such invalidity, illegality or unenforceability.

  SECTION 2.06. Effectiveness. The provisions of this Supplemental Indenture will take effect immediately upon its execution and delivery by the Trustee in accordance with the provisions of the Indenture. 

  SECTION 2.07. Trustee Disclaimer. The Trustee accepts the amendment of the Indenture effected by this Supplemental Indenture and agrees to execute the trust created by the Indenture as hereby amended, but only upon the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee, which terms and provisions shall in like manner define and limit its liabilities and responsibilities in the performance of the trust created by the Indenture as hereby amended, and without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which recitals or statements are made solely by Parent, or for or with respect to (i) the validity or sufficiency of this Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper authorization hereof by Parent by corporate action or otherwise, (iii) the due execution hereof by Parent and/or (iv) the consequences (direct or indirect and whether deliberate or inadvertent) of any amendment herein provided for, and the Trustee makes no representation with respect to any such matters.

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  IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first written above.

  Very truly yours,

  		
	ASHLAND GLOBAL HOLDINGS INC.,

	By:

	         
	/s/ William C. Whitaker

	 
	Name: William C. Whitaker

	 
	Title: Vice President and Treasurer

	 
	 

   

   

   

   

  		
	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,
as Trustee
 

	By:

	 
	/s/ William Sicking

	 
	Name: William Sicking

	 
	Title: Vice President

   

   

   

   

   

   

   

   

   

   [Signature Page to Supplemental Indenture No. 1]

   

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