Document:

exv4w11

 

Exhibit 4.11

SIXTH AMENDMENT TO CREDIT AGREEMENT

     THIS SIXTH AMENDMENT TO CREDIT AGREEMENT (this “Sixth Amendment”), dated as of May
27, 2005, is entered into among ELKCORP (formerly known as Elcor Corporation), a Delaware
corporation (the “Borrower”), the lenders listed on the signature pages hereof as Lenders
(the “Lenders”), BANK ONE, N.A., as Documentation Agent, and BANK OF AMERICA, N.A., as
Administrative Agent, Swing Line Lender and L/C Issuer.

BACKGROUND

     A. The Borrower, certain of the Lenders, the Documentation Agent, the Syndication Agent, the
Administrative Agent, the Swing Line lender and the L/C Issuer are parties to that certain Credit
Agreement, dated as of November 30, 2000, as amended by that certain First Amendment to Credit
Agreement, dated as of March 31, 2001, that certain Second Amendment to Credit Agreement, dated as
of June 5, 2002, that certain Third Amendment to Credit Agreement, dated as of February 20, 2003,
that certain Fourth Amendment to Credit Agreement, dated as of March 7, 2003, and that certain
Fifth Amendment to Credit Agreement, dated as of December 5, 2003 (said Credit Agreement, as
amended, the “Credit Agreement”). The terms defined in the Credit Agreement and not
otherwise defined herein shall be used herein as defined in the Credit Agreement.

     B. The Borrower has requested certain amendments to the Credit Agreement.

     C. The Lenders, the Documentation Agent, the Administrative Agent, the Swing Line Lender and
the L/C Issuer hereby agree to amend the Credit Agreement, subject to the terms and conditions set
forth herein.

     NOW, THEREFORE, in consideration of the covenants, conditions and agreements hereafter set
forth, and for other good and valuable consideration, the receipt and adequacy of which are all
hereby acknowledged, the Borrower, the Lenders, the Swing Line Lender, the L/C Issuer and the
Administrative Agent covenant and agree as follows:

     1. AMENDMENTS.

     (a) Section 5.17 of the Credit Agreement is hereby amended to read as follows:

     5.17 Businesses. The Borrower is engaged and may engage in the future,
directly or through wholly-owned Subsidiaries, in the following businesses: (a) the
manufacture of premium building materials, including (i) premium roofing products,
including laminated fiberglass asphalt shingles and accessory products, (ii)
performance non-woven fabrics, including coated and uncoated fiberglass mat, mat
products, and other non-woven materials; (iii) composite building products,
including decking, fencing, railing, building product structural components and
accessories and (iv) and such other building products business platforms to extend
its premium building products business; (b) the manufacturing, recycling and
remanufacturing of diesel engine power assemblies, cylinder liners, heads, rods,
waterjackets, valves, pistons and related

1

 

components, including hard chrome plating of cylinder bores, primarily for the
railroad and marine industries; hard chrome plating of original equipment cylinder
liners for major domestic locomotive manufacturers and stationary power equipment
manufacturers, the electrolessplating of nonmetallic computer and other electronic
enclosures to provide electromagnetic and radio frequency interference protection,
and the development of new products for its proprietary nickel, tin, iron and hard
chrome plated finishes; and (c) the sale of patent licenses with engineering support
services and the sale of consulting engineering services to the oil and gas
production, gas processing and sulfur recovery industries.

     (b) Section 7.03 of the Credit Agreement is hereby amended to add a new clause (c)
thereto to read as follows:

     (c) the Borrower or any Subsidiary may make any Disposition permitted under
Section 7.04.

     (c) Sections 7.04(d) and (e) of the Credit Agreement are hereby amended to
read as follows:

     (d) Dispositions of capital stock or all or substantially all of the assets of
any Subsidiary not engaged in the businesses described in Section 5.17(a)(i)
or 5.17(a)(ii);

     (e) [Intentionally Omitted]; and

     (d) Section 7.04 of the Credit Agreement is hereby amended by adding a new clause (f)
thereto to read as follows:

     (f) Dispositions of property by (i) any Subsidiary to the Borrower or to a
Guarantor or (ii) the Borrower to any Guarantor;

     (e) Article IX of the Credit Agreement is hereby amended by adding a new Section
9.13 thereto to read as follows:

     9.13 Guaranty Matters. Effective automatically and immediately at the time
that any Guarantor ceases to be a Subsidiary or all or substantially all of the
assets of any Guarantor are Disposed of, in either case as a result of a transaction
permitted hereunder and provided that such Guarantor is released from all Guaranty
Obligations in respect of any other Indebtedness of the Borrower, such Guarantor
shall be released from its Guaranty. Notwithstanding anything in Section
10.01 to the contrary, the Lenders and the L/C Issuer irrevocably authorize the
Administrative Agent to evidence the release of any Guarantor from its obligations
under any Guaranty as a result of either event set forth in the immediately
preceding sentence.

2

 

     2. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its execution and
delivery hereof, the Borrower represents and warrants that, as of the date hereof:

     (a) the representations and warranties contained in the Credit Agreement and the other Loan
Documents are true and correct on and as of the date hereof as made on and as of such date;

     (b) no event has occurred and is continuing which constitutes a Default or an Event of
Default;

     (c) (i) the Borrower has full power and authority to execute and deliver this Sixth Amendment,
(ii) this Sixth Amendment has been duly executed and delivered by the Borrower, and (iii) this
Sixth Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and
binding obligations of the Borrower, enforceable in accordance with their respective terms, except
as enforceability may be limited by applicable debtor relief laws and by general principles of
equity (regardless of whether enforcement is sought in a proceeding in equity or at law) and except
as rights to indemnity may be limited by federal or state securities laws;

     (d) neither the execution, delivery and performance of this Sixth Amendment or the Credit
Agreement, as amended hereby, nor the consummation of any transactions contemplated herein or
therein, will conflict with any Law or Organization Documents of the Borrower, or any indenture,
agreement or other instrument to which the Borrower or any of its property is subject; and

     (e) no authorization, approval, consent, or other action by, notice to, or filing with, any
governmental authority or other Person not previously obtained is required for the execution,
delivery or performance by the Borrower of this Sixth Amendment.

     3. CONDITIONS TO EFFECTIVENESS. This Sixth Amendment shall be effective upon
satisfaction or completion of the following:

     (a) the Administrative Agent shall have received counterparts of this Sixth Amendment executed
by the Required Lenders;

     (b) the Administrative Agent shall have received counterparts of this Sixth Amendment executed
by the Borrower and acknowledged by each Guarantor; and

     (c) the Administrative Agent shall have received, in form and substance satisfactory to the
Administrative Agent and its counsel, such other documents, certificates and instruments as the
Administrative Agent shall require.

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     4. REFERENCE TO THE CREDIT AGREEMENT.

     (a) Upon the effectiveness of this Sixth Amendment, each reference in the Credit Agreement to
“this Agreement”, “hereunder”, or words of like import shall mean and be a reference to the Credit
Agreement, as affected and amended hereby.

     (b) The Credit Agreement, as amended by the amendments referred to above, shall remain in full
force and effect and is hereby ratified and confirmed.

     5. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all costs and
expenses of the Administrative Agent in connection with the preparation, reproduction, execution
and delivery of this Sixth Amendment and the other instruments and documents to be delivered
hereunder (including the reasonable fees and out-of-pocket expenses of counsel for the
Administrative Agent with respect thereto).

     6. GUARANTOR’S ACKNOWLEDGMENT. By signing below, each Guarantor (a) acknowledges,
consents and agrees to the execution, delivery and performance by the Borrower of this Sixth
Amendment, (b) acknowledges and agrees that its obligations in respect of its Guaranty (i) are not
released, diminished, waived, modified, impaired or affected in any manner by this Sixth Amendment
or any of the provisions contemplated herein, (c) ratifies and confirms its obligations under its
Guaranty, and (d) acknowledges and agrees that it has no claims or offsets against, or defenses or
counterclaims to, its Guaranty, including the release of OEL, Ltd. from its obligation under any
Guaranty.

     7. EXECUTION IN COUNTERPARTS. This Sixth Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which when taken together shall
constitute but one and the same instrument. For purposes of this Sixth Amendment, a counterpart
hereof (or signature page thereto) signed and transmitted by any Person party hereto to the
Administrative Agent (or its counsel) by facsimile machine, telecopier or electronic mail is to be
treated as an original. The signature of such Person thereon, for purposes hereof, is to be
considered as an original signature, and the counterpart (or signature page thereto) so transmitted
is to be considered to have the same binding effect as an original signature on an original
document.

     8. GOVERNING LAW; BINDING EFFECT. This Sixth Amendment shall be governed by and
construed in accordance with the laws of the State of Texas applicable to agreements made and to be
performed entirely within such state, provided that each party shall retain all rights arising
under federal law, and shall be binding upon the parties hereto and their respective successors and
assigns.

     9. HEADINGS. Section headings in this Sixth Amendment are included herein for
convenience of reference only and shall not constitute a part of this Sixth Amendment for any other
purpose.

     10. ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS SIXTH AMENDMENT, AND
THE OTHER LOAN DOCUMENTS REPRESENT THE

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FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES.

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

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     IN WITNESS WHEREOF, this Sixth Amendment is executed as of the date first set forth above.

	 	 	 	 	 	 	 	 	 
	 	 	ELKCORP	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

6

 

	 	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as Administrative	 	 
	 	 	Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

7

 

	 	 	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as a Lender, L/C	 	 
	 	 	Issuer and Swing Line Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

8

 

	 	 	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., as a Lender	 	 
	 	 	and Documentation Agent	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

9

 

	 	 	 	 	 	 	 	 	 
	 	 	THE NORTHERN TRUST COMPANY, as a	 	 
	 	 	Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

10

 

	 	 	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL	 	 
	 	 	ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

11

 

	 	 	 	 	 	 	 	 	 
	 	 	COMPASS BANK, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

12

 

	 	 	 	 	 	 	 	 	 
	 	 	HIBERNIA NATIONAL BANK, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

13

 

	 	 	 	 	 	 	 	 	 
	 	 	BRANCH BANKING AND TRUST	 	 
	 	 	COMPANY, as a Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

14

 

	 	 	 	 	 	 	 	 	 
	 	 	KEYBANK NATIONAL ASSOCIATION, as a	 	 
	 	 	Lender	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

15

 

ACKNOWLEDGED AND AGREED TO:

ELK PREMIUM BUILDING PRODUCTS, INC.

     (formerly known as Elk Corporation of Dallas)

ELK CORPORATION OF TEXAS

ELK CORPORATION OF AMERICA

ELK CORPORATION OF ARKANSAS

ELK CORPORATION OF ALABAMA

OEL, LTD.

CHROMIUM CORPORATION

ELK TECHNOLOGY GROUP, INC.

ELK TECHNOLOGIES, INC.

ELK PERFORMANCE NONWOVEN FABRICS, INC.

ELK COMPOSITE BUILDING PRODUCTS, INC.

LUFKIN PATH FORWARD, INC.

	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	NELPA, INC.	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

16

 

	 	 	 	 	 	 	 
	ELK GROUP, L.P.	 	 
	(formerly known as Elcor Service Limited Partnership)
	 
	 	 	 	 	 	 
	By:	 	ELK GROUP, INC.	 	 
	 	 	(formerly known as Elcor Management Corporation),
	 	 	Its General Partner	 	 
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	ELK GROUP, INC.	 	 
	(formerly known as Elcor Management Corporation)
	 
	 	 	 	 	 	 
	By:
	 	 	 	 	 	 
	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

17exv4w12

 

EXHIBIT 4.12

SEVENTH AMENDMENT TO CREDIT AGREEMENT

     THIS SEVENTH AMENDMENT TO CREDIT AGREEMENT (this “Seventh Amendment”), dated as of
August 12, 2005, is entered into among ELKCORP (formerly known as Elcor Corporation), a Delaware
corporation (the “Borrower”), the lenders listed on the signature pages hereof as Lenders
(the “Lenders”), BANK ONE, N.A., as Documentation Agent, and BANK OF AMERICA, N.A., as
Administrative Agent, Swing Line Lender and L/C Issuer.

BACKGROUND

     A. The Borrower, certain of the Lenders, the Documentation Agent, the Syndication Agent, the
Administrative Agent, the Swing Line lender and the L/C Issuer are parties to that certain Credit
Agreement, dated as of November 30, 2000, as amended by that certain First Amendment to Credit
Agreement, dated as of March 31, 2001, that certain Second Amendment to Credit Agreement, dated as
of June 5, 2002, that certain Third Amendment to Credit Agreement, dated as of February 20, 2003,
that certain Fourth Amendment to Credit Agreement, dated as of March 7, 2003, that certain Fifth
Amendment to Credit Agreement, dated as of December 5, 2003, and that certain Sixth Amendment to
Credit Agreement, dated as of May 27, 2005 (said Credit Agreement, as amended, the “Credit
Agreement”). The terms defined in the Credit Agreement and not otherwise defined herein shall
be used herein as defined in the Credit Agreement.

     B. The Borrower has requested certain amendments to the Credit Agreement.

     C. The Lenders, the Documentation Agent, the Administrative Agent, the Swing Line Lender and
the L/C Issuer hereby agree to amend the Credit Agreement, subject to the terms and conditions set
forth herein.

     NOW, THEREFORE, in consideration of the covenants, conditions and agreements hereafter set
forth, and for other good and valuable consideration, the receipt and adequacy of which are all
hereby acknowledged, the Borrower, the Lenders, the Swing Line Lender, the L/C Issuer and the
Administrative Agent covenant and agree as follows:

     1. AMENDMENTS.

     (a) The definition of “Permitted Investment” set forth in Section 1.01 of the
Credit Agreement is hereby amended by amending clause (h) thereof to read as follows:

     (h) Investments in any Guarantor, including any Person that simultaneously
becomes a Guarantor at the time of the initial Investment therein;

     (b) Section 7.01 of the Credit Agreement is hereby amended by (i) deleting “and” after
clause (g) thereof, (ii) deleting “.” after clause (h) thereof and inserting “; and” in lieu
thereof and (iii) adding a new clause (i) thereto to read as follows:

1

 

     (i) Liens (i) securing Indebtedness in respect of capital leases and purchase
money obligations for fixed or capital assets, provided that (A) such Liens
do not at any time encumber any property other than the property financed by such
Indebtedness and (B) the Indebtedness secured thereby does not exceed the cost or
fair market value, whichever is lower, of the property being acquired on the date of
acquisition and (ii) encumbering property acquired in a Permitted Investment,
provided that (A) such Liens were already in existence prior to the date of
such Permitted Investment and were not created in contemplation of or in connection
with such Permitted Investment, (B) such Liens do not at any time encumber any
property other than property theretofore encumbered by such Liens and (C) the
Indebtedness secured thereby (other than interest accruing thereon in accordance
with its terms) does not exceed the amount secured on the date of such Permitted
Investment; provided further, however, the aggregate principal amount of
Indebtedness secured by Liens permitted pursuant to both of clauses (i) and (ii)
immediately preceding shall not exceed $25,000,000 at any time.

     (c) Exhibit E to the Credit Agreement, the Compliance Certificate, is hereby amended
to be in the form of Exhibit E to this Seventh Amendment.

     2. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its execution and
delivery hereof, the Borrower represents and warrants that, as of the date hereof:

     (a) the representations and warranties contained in the Credit Agreement and the other Loan
Documents are true and correct on and as of the date hereof as made on and as of such date;

     (b) no event has occurred and is continuing which constitutes a Default or an Event of
Default;

     (c) (i) the Borrower has full power and authority to execute and deliver this Seventh
Amendment, (ii) this Seventh Amendment has been duly executed and delivered by the Borrower, and
(iii) this Seventh Amendment and the Credit Agreement, as amended hereby, constitute the legal,
valid and binding obligations of the Borrower, enforceable in accordance with their respective
terms, except as enforceability may be limited by applicable debtor relief laws and by general
principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at
law) and except as rights to indemnity may be limited by federal or state securities laws;

     (d) neither the execution, delivery and performance of this Seventh Amendment or the Credit
Agreement, as amended hereby, nor the consummation of any transactions contemplated herein or
therein, will conflict with any Law or Organization Documents of the Borrower, or any indenture,
agreement or other instrument to which the Borrower or any of its property is subject; and

2

 

     (e) no authorization, approval, consent, or other action by, notice to, or filing with, any
governmental authority or other Person not previously obtained is required for the execution,
delivery or performance by the Borrower of this Seventh Amendment.

     3. CONDITIONS TO EFFECTIVENESS. This Seventh Amendment shall be effective upon
satisfaction or completion of the following:

     (a) the Administrative Agent shall have received counterparts of this Seventh Amendment
executed by the Required Lenders;

     (b) the Administrative Agent shall have received counterparts of this Seventh Amendment
executed by the Borrower and acknowledged by each Guarantor; and

     (c) the Administrative Agent shall have received, in form and substance satisfactory to the
Administrative Agent and its counsel, such other documents, certificates and instruments as the
Administrative Agent shall require.

     4. REFERENCE TO THE CREDIT AGREEMENT.

     (a) Upon the effectiveness of this Seventh Amendment, each reference in the Credit Agreement
to “this Agreement”, “hereunder”, or words of like import shall mean and be a reference to the
Credit Agreement, as affected and amended hereby.

     (b) The Credit Agreement, as amended by the amendments referred to above, shall remain in full
force and effect and is hereby ratified and confirmed.

     5. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all costs and
expenses of the Administrative Agent in connection with the preparation, reproduction, execution
and delivery of this Seventh Amendment and the other instruments and documents to be delivered
hereunder (including the reasonable fees and out-of-pocket expenses of counsel for the
Administrative Agent with respect thereto).

     6. GUARANTOR’S ACKNOWLEDGMENT. By signing below, each Guarantor (a) acknowledges,
consents and agrees to the execution, delivery and performance by the Borrower of this Seventh
Amendment, (b) acknowledges and agrees that its obligations in respect of its Guaranty (i) are not
released, diminished, waived, modified, impaired or affected in any manner by this Seventh
Amendment or any of the provisions contemplated herein, (c) ratifies and confirms its obligations
under its Guaranty, and (d) acknowledges and agrees that it has no claims or offsets against, or
defenses or counterclaims to, its Guaranty.

     7. EXECUTION IN COUNTERPARTS. This Seventh Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which when taken together shall
constitute but one and the same instrument. For purposes of this Seventh Amendment, a counterpart
hereof (or signature page thereto) signed and transmitted by any Person party hereto to the
Administrative Agent (or its counsel) by facsimile machine, telecopier or electronic mail is to be
treated as an original. The signature of such Person thereon,

3

 

for purposes hereof, is to be considered as an original signature, and the counterpart (or
signature page thereto) so transmitted is to be considered to have the same binding effect as an
original signature on an original document.

     8. GOVERNING LAW; BINDING EFFECT. This Seventh Amendment shall be governed by and
construed in accordance with the laws of the State of Texas applicable to agreements made and to be
performed entirely within such state, provided that each party shall retain all rights arising
under federal law, and shall be binding upon the parties hereto and their respective successors and
assigns.

     9. HEADINGS. Section headings in this Seventh Amendment are included herein for
convenience of reference only and shall not constitute a part of this Seventh Amendment for any
other purpose.

     10. ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS SEVENTH AMENDMENT, AND
THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

4

 

     IN WITNESS WHEREOF, this Seventh Amendment is executed as of the date first set forth above.

	 	 	 	 	 
	 	 	ELKCORP
	 
	 	 	 	 
	 

	 	By:	 	 
	 	 	 	 	 
	 

	 	 	 	Gregory J. Fisher
	 

	 	 	 	Senior Vice President, Chief Financial Officer
and Controller

5

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as Administrative Agent
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

6

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and
Swing Line Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

7

 

	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., as a Lender and
Documentation Agent
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

8

 

	 	 	 	 	 	 	 
	 	 	THE NORTHERN TRUST COMPANY, as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

9

 

	 	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

10

 

	 	 	 	 	 	 	 
	 	 	COMPASS BANK, as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

11

 

	 	 	 	 	 	 	 
	 	 	HIBERNIA NATIONAL BANK, as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

12

 

	 	 	 	 	 	 	 
	 	 	BRANCH BANKING AND TRUST COMPANY, as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

13

 

	 	 	 	 	 	 	 
	 	 	KEYBANK NATIONAL ASSOCIATION, as a Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 
	 

	 	 	 	 	 	 

14

 

ACKNOWLEDGED AND AGREED TO:

ELK PREMIUM BUILDING PRODUCTS, INC.

          (formerly known as Elk Corporation of Dallas)

ELK CORPORATION OF TEXAS

ELK CORPORATION OF AMERICA

ELK CORPORATION OF ARKANSAS

ELK CORPORATION OF ALABAMA

MIDLAND PATH FORWARD, INC.

          (formerly known as OEL, Ltd.)

CHROMIUM CORPORATION

ELK TECHNOLOGY GROUP, INC.

ELK TECHNOLOGIES, INC.

ELK PERFORMANCE NONWOVEN FABRICS, INC.

ELK COMPOSITE BUILDING PRODUCTS, INC.

LUFKIN PATH FORWARD, INC.

	 	 	 	 	 
	By:
	 	 	 	 
	 	 	 	 	 
	 

	 	Gregory J. Fisher	 	 
	 

	 	Vice President	 	 
	 
	 	 	 	 
	NELPA, INC.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 	 	 	 	 
	 

	 	John Freshwater	 	 
	 

	 	Vice President	 	 

15

 

ELK GROUP, L.P.

(formerly known as Elcor Service Limited Partnership)

	 	 	 	 	 	 	 
	By:	 	ELK GROUP, INC.	 	 
	 	 	(formerly known as Elcor Management Corporation),	 	 
	 	 	Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Gregory J. Fisher	 	 
	 

	 	 	 	Senior Vice President, Chief Financial Officer
and Controller	 	 

ELK GROUP, INC.

(formerly known as Elcor Management Corporation),

Its General Partner

	 	 	 	 	 
	By:
	 	 	 	 
	 	 	 	 	 
	 

	 	Gregory J. Fisher	 	 
	 

	 	Senior Vice President, Chief Financial Officer
and Controller	 	 

16

 

EXHIBIT E

FORM OF COMPLIANCE CERTIFICATE

Financial Statement Date: _____________

To: Bank of America, N.A., as Administrative Agent

Ladies and Gentlemen:

     Reference is made to that certain Credit Agreement, dated as of November 30, 2000 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the
“Agreement;” the terms defined therein being used herein as therein defined), among ElkCorp
(the “Borrower”), the Lenders from time to time party thereto, and Bank of America, N.A.,
as Administrative Agent, L/C Issuer and Swing Line Lender.

     The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the                                        
                    of the Borrower, and that, as such, he/she is authorized to execute and deliver this Certificate to
the Administrative Agent on the behalf of the Borrower, and that:

[Use following for fiscal year-end financial statements]

     1. Attached hereto as Schedule 1 are the year-end audited financial statements
required by Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as
of the above date, together with the report and opinion of an independent certified public
accountant required by such section.

[Use following for fiscal quarter-end financial statements]

     1. Attached hereto as Schedule 1 are the unaudited financial statements required by
Section 6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the
above date. Such financial statements fairly present the financial condition, results of
operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such
date and for such period, subject only to normal year-end audit adjustments and the absence of
footnotes.

     2. The undersigned has reviewed and is familiar with the terms of the Agreement and has made,
or has caused to be made under his/her supervision, a detailed review of the transactions and
condition (financial or otherwise) of the Borrower during the accounting period covered by the
attached financial statements.

     3. A review of the activities of the Borrower during such fiscal period has been made under
the supervision of the undersigned with a view to determining whether during such fiscal period the
Borrower performed and observed all its Obligations under the Loan Documents, and

[select one:]

Exhibit E - 1

 

 

     [to the best knowledge of the undersigned during such fiscal period, the Borrower performed
and observed each covenant and condition of the Loan Documents applicable to it.]

—or—

     [the following covenants or conditions have not been performed or observed and the following
is a list of each such Default or Event of Default and its nature and status:]

     4. The financial covenant analyses and information set forth on Schedule 2 attached
hereto are true and accurate on and as of the date of this Certificate.

          IN WITNESS WHEREOF, the undersigned has executed this Certificate as of                     ,                     .

	 	 	 	 	 	 	 
	 	 	ELKCORP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 	 	 	 	 
	 

	 	 	 	 Name:	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	 Title:	 	 
	 	 	 	 	 	 	 

Exhibit E - 2

 

 

For the Quarter/Year ended ___________________(“Statement Date”)

SCHEDULE 2

to the Compliance Certificate

($ in 000’s)

	 	 	 	 	 	 	 	 	 	 	 	 	 
	I.	 	Leverage Ratio – For Determination of Applicable Rate	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A.	 	Consolidated EBITDA for four consecutive fiscal quarters ending on above date (“Subject Period”):
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	1.	 	 	Consolidated Adjusted Net Income for Subject Period:
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	2.	 	 	Consolidated Interest Expense for Subject Period:
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	3.	 	 	Provision for income taxes for Subject Period:
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	4.	 	 	Depreciation expenses and Amortization expenses for
intangibles for Subject Period:
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	5.	 	 	Trailing 4 fiscal quarters of Consolidated EBITDA of
assets acquired during Subject Period:
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	6.	 	 	Trailing 4 fiscal quarters of Consolidated EBITDA of
assets disposed of during Subject Period:
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	7.	 	 	Consolidated EBITDA (lines I.A 1 + 2 + 3 + 4 + 5 + 6):
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	B.	 	Consolidated Funded Indebtedness at Statement Date:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	C.	 	Leverage Ratio (Line I.A.7  ̧ Line I.B.):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	II.	 	Section 7.01(i) – Maximum Secured Indebtedness.	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A.	 	Aggregate amount of Indebtedness secured by capital leases and purchase money
obligations	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	B.	 	Aggregate amount of Indebtedness secured by Liens on property acquired in a
Permitted Investment	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	C.	 	Aggregate secured Indebtedness (Lines II.A. + II.B.)	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	D.	 	Maximum permitted secured Indebtedness	 	 	$	25,000,000

Exhibit E - 1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	E.	 	Excess Available for secured Indebtedness (Line II.D. – II.C.)	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	III.	 	Section 7.05 – Restricted Payments.	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A.	 	Base:	 	 	$	15,000,000
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	B.	 	35% of cumulative Consolidated Net Income (100% in case of a deficit) commencing
July 1, 2000:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	C.	 	Amounnt received from sale or disposition of Capital Stock acquired in a
Treasury Stock Purchase:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	D.	 	Amount Available for Restricted Payments (Lines III.A. + (or minus if a deficit)
III.B. + III.C.):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	E.	 	Restricted Payments made during term of Agreement:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	F.	 	Excess Available for Restricted Payments (Line III.D. – III.E.):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	IV.	 	Section 7.12(a) – Consolidated Net Worth.	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A.	 	Actual Consolidated Net Worth at Statement Date:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	B.	 	50% of Consolidated Net Income for each fiscal year ending after June 30, 2001
(no reduction for losses):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	C.	 	100% of increases in Shareholders’ Equity after date of Agreement from issuance
and sale of capital stock (including from conversion of debt securities, but
excluding treasury stock):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	D.	 	Minimum required Consolidated Net Worth (Lines IV.B + IV.C plus $130,000,000):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	E.	 	Excess (deficient) for covenant compliance (Line IV.A – IV.D):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	V.	 	Section 7.13(b) – Fixed Charge Coverage Ratio.	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A.	 	Consolidated EBITDA for four consecutive fiscal quarters ending on above date
(“Subject Period”) (Line I.A.7 above):	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 

Exhibit E - 2

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	B.	 	Cash Taxes of Borrower and its Subsidiaries for Subject Period:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	C.	 	Maintenance Capital Expenditures for Subject Period:	 	 	$	12,000,000
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	D.	 	Consolidated Interest Charges for Subject Period:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	E.	 	Principal payments of Indebtedness of the Borrower and its Subsidiaries required
to be paid during Subject Period:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	F.	 	Fixed Charge Coverage Ratio (Lines V. A. – V.B. – V.C.)  ̧ (Lines (V.D. +
V.E.):	 	to 1

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	G.	 	Fixed Charge Coverage Ratio for immediately preceding two consecutive fiscal
quarters	 	to 1

	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	Minimum required:
	 	to 1

	 	 	 	 	 
	 	 	 	 	Minimum Fixed
	 	 	 	 	Charge Coverage
	 	 	 	 	Ratio
	 

	 	Each fiscal quarter
	 	1.50 to 1
	 
	 	 	 	 
	 

	 	For each fiscal quarter after Fixed Charge
Coverage Ratio for the immediately preceding two
consecutive fiscal quarters was less than 1.75 to
1
	 	1.75 to 1

	 	 	 	 	 	 	 	 	 	 	 	 	 
	VI.	 	Section 7.13(c) – Capitalization Ratio.	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A.	 	Consolidated Funded Indebtedness at Statement Date:	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	B.	 	Capitalization:	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	1.	 	 	Consolidated Funded Indebtedness at Statement Date:
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	2.	 	 	Consolidated Net Worth (Line IV.A. above)
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	3.	 	 	Capitalization (Lines VI.B. 1 + 2):
	 	 	$	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	C.	 	Capitalization Ratio (Line VI.A)  ̧ (Line VI.B.3):	 	_____ to 1

Exhibit E - 3

 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Maximum allowed:	 	 	 	 

	 	 	 	 	 
	 	 	 	 	Maximum
	 	 	 	 	Capitalization
	 

	 	Any fiscal quarter
	 	0.55 to 1

Exhibit E - 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]