Document:

ex10_36-1.htm

Exhibit 10.36(1)

 

PULSE ELECTRONICS CORPORATION

PULSE ELECTRONICS (SINGAPORE) PTE LTD

12220 World Trade Drive

San Diego, CA 92128

 

JPMorgan Chase Bank, NA.

277 Park Avenue, Floor 23

New York, NY 10172

Attention: Deborah Winkler

 

OCM PE Holdings, L.P.

Oaktree Opportunities Fund VIIIb Delaware, L.P.

Oaktree Value Opportunities Fund Holdings, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attention: Kenneth Liang

November 19, 2012

 

Re: Letter Agreement relating to certain amendments and the grant of a security interest (“Letter Agreement”)

 

Ladies and Gentlemen:

 

Reference is made to that certain Credit Agreement, dated as of February 28, 2008, as amended and restated as of February 19, 2009, as further amended and restated as of August 5, 2011, as further amended and restated as of March 9, 2012, as further amended and restated as of November 7, 2012, and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Pulse Electronics Corporation (the “Company”), Pulse Electronics (Singapore) Pte Ltd (the “Singapore Borrower”), the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.  Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement, or if not defined therein, in Article 9 of the Uniform Commercial Code as in effect from time to time in the State of New York (the “UCC”).

 

1.             Amendments.  Please confirm your agreement to effectuate the following amendments to the Credit Agreement, effective as of the date hereof:

 

1.1           Subsidiary Guarantors.  The definition of “Subsidiary Guarantors” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

““Subsidiary Guarantors” means, collectively, other than any Excluded Entity, (a) each Subsidiary that is set forth on Schedule 1.01(c), (b) each Domestic Subsidiary and (c) each Foreign Subsidiary; provided, that, so long as any Subsidiary is deemed to constitute an “Excluded Subsidiary” hereunder (to the extent set forth in the definition of “Excluded Subsidiaries” in this Section 1.01), such Subsidiary will not be deemed to constitute a “Subsidiary Guarantor.””

 

  

  

  

 

1.2           Term B Loans.  Clause (i) of Section 2.01(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“(i)           Within 10 days following the Restructuring Closing Date, the Singapore Borrower, the Administrative Agent and the Lenders hereby agree that the $27,685,000 principal amount of Permitted  Convertible Notes held by the Persons identified as “Term B Lenders” in Schedule 2.01 (or held by any of their Affiliates or other Approved Funds, as of the Restructuring Closing Date) shall be surrendered to the Company, to be then delivered to the Convertible Notes Trustee for cancellation.  On the Restructuring Closing Date, the Indebtedness outstanding on such Permitted Convertible Notes shall be deemed automatically cancelled in exchange for (x) $28,514,012 principal amount of Term B Loans governed by this Agreement and for all purposes deemed Loans made to the Singapore Borrower hereunder (as part of a Borrowing made on the Restructuring Closing Date), and (y) 36,729,182 shares of Common Stock of the Company, as set forth pursuant to the terms of the Investment Agreement.”

 

1.3           Post-Closing Schedule.   Article VI of the Credit Agreement is hereby amended by adding thereto a new Section 6.18, immediately after the existing Section 6.17, as follows:

 

“6.18       Post-Closing Deliverables.   As promptly as practicable, and in any event within sixty days after the Restructuring Closing Date, deliver all documents, agreements, opinions, instruments or other deliverables set forth in Schedule 6.18 hereto, in each case, in form and substance reasonably satisfactory to the Required Lenders; provided, that, to the extent FRE and its Subsidiaries cannot be joined (the “FRE Joinder”) to that certain (i) Intercompany Indebtedness Subordination Agreement, dated as of February 28, 2008, among the Company and certain of its Subsidiaries and the Administrative Agent (as amended supplemented or otherwise modified from time to time) or (ii) Global Intercompany Note, dated as of February 19, 2009, among the Company and certain of its Subsidiaries (as amended supplemented or otherwise modified from time to time), or, in each case, to any related amendment or other confirmation or reaffirmation thereof, within such sixty-day period, due to delays caused by having to comply with certain notice requirements relating to shareholder votes or independent director actions, the Company shall be permitted to request the Required Lenders’ approval (such approval not to be unreasonably withheld) to extend such sixty-day period by an additional 30 days to effectuate the FRE Joinder (in form and substance reasonably satisfactory to the Required Lenders); provided, further, that without limiting the effect of any applicable provision hereunder or under any other Loan Document (including, without limitation, Section 8.01 hereof), upon the failure to satisfy any of the obligations of this Section 6.18 within the specified time frames set forth herein, the Borrower will be required to immediately pay the Lenders a fee in an amount equal to $500,000, which amount shall be distributed (as a fee, and not as any prepayment or repayment of any portion of the Loans) among the Lenders on a pro rata basis in accordance with such Lenders’ relative share of all Loans outstanding hereunder.”

 

  

2

  

 

1.4           Schedules and Exhibits.  Pursuant to Section 4.01(a)(vii) of the Credit Agreement, the Schedules and Exhibits attached hereto shall replace entirely the Schedules and Exhibits attached to the Credit Agreement immediately prior to the effectiveness of this Letter Agreement.

 

2.             Grant of Security Interest.

 

2.1           In connection with any Deposit Account, securities account (as “securities account” is defined in Article 8 of the UCC) or other bank account established, maintained and owned by the Singapore Borrower with Bank of America, N.A. or any other financial institution (collectively, the “Accounts”), as security for the payment (when due, whether at stated maturity, by acceleration or otherwise) or performance, as the case may be, in full of the Singapore Borrower’s Secured Obligations, the Singapore Borrower hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in all right, title and interest in and to the Accounts and any proceeds (as “proceeds” is defined in Article 9 of the UCC) and products thereof or other money (as “money” is defined in the UCC) or assets therein, whether now owned or at any time hereafter acquired by the Singapore Borrower or in which the Singapore Borrower now has or at any time in the future may acquire any right, title or interest (collectively, the “Account Collateral”).

 

2.2           Upon the occurrence and during the continuation of an Event of Default, the Administrative Agent, for the benefit of the Secured Parties, may exercise (whether with respect to the Account Collateral or otherwise), without notice, any or all of those rights and remedies available to a Secured Party under the UCC or under any other applicable Law when a Debtor is in default under a Security Agreement.

 

2.3           All security interests granted or contemplated hereby shall be for the benefit of the Administrative Agent and the Secured Parties, and all proceeds or payments realized from the Account Collateral in accordance herewith, the UCC or other applicable Laws shall be applied to the payment or other extinguishment of the Secured Obligations in accordance with the terms of the Credit Agreement.

 

3.             This Letter Agreement is designated by the parties hereto to constitute a Loan Document.

 

4.             This Letter Agreement may not be amended or any provision hereof waived or modified except by a writing signed by each of the parties hereto.  The terms of this Letter Agreement shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns.

 

  

3

  

 

5.             THIS LETTER AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

6.             This Letter Agreement shall become effective only when signed by all of the parties hereto in the space provided below.  Delivery of an executed signature page of this Letter Agreement by electronic transmission shall be effective as delivery of a manually executed counterpart hereof.

 

[Remainder of page left blank intentionally]

 

  

4

  

 

IN WITNESS WHEREOF, the parties hereto have caused this Letter Agreement to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.

 

	  	
PULSE ELECTRONICS CORPORATION

	 	 
	  	
By:

	
/s/ Drew A. Moyer

	  	  	
Name: Drew A. Moyer

	  	  	
Title:   Senior Vice President & Chief Financial Officer

  

 

  

 

PULSE ELECTRONICS (SINGAPORE) PTE LTD

 

The Common Seal of                                                     )

PULSE ELECTRONICS (SINGAPORE) PTE LTD)

was affixed hereunto                                                     )

in the presence of:                                                         )

 

	
By:

	
  /s/ Drew A. Moyer

	  

 

	
Name:

	
Drew A. Moyer

	  
	
Title:

	
Director

	  

 

	
By:

	
  /s/ John A. Houston

	  

 

	
Name:

	
John A. Houston

	  
	
Title:

	
Director & Secretary

	  

  

 

  

 

	
AGREED AND ACCEPTED:

	  	 	  
	
JPMORGAN CHASE BANK, N.A.

	  	 	  
	
By:

	 	 

 

	
Name:

	 	  
	
Title:

	 	  

  

 

  

 

	
AGREED AND ACCEPTED:

	  
	  	  	  
	
OCM PE HOLDINGS, L.P.

	  	  	  
	
By:

	 	  

 

	
Name:

	  	  
	
Title:

	  	  
	  	  	  
	
OAKTREE OPPORTUNITIES FUND VIIIB DELAWARE, L.P.

 

	
By:

	 	  

 

	
Name:

	  	  
	
Title:

	  	  

 

	
OAKTREE VALUE OPPORTUNITIES FUND HOLDINGS, L.P.

	  	  	  
	
By:

	 	  

 

	
Name:

	  	  
	
Title:

	  	  

  

 

  

 

	  	
TECHNITROL SINGAPORE HOLDINGS PTE. LTD.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
MCS HOLDINGS, INC.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
TRC HOLDINGS, LLC

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Authorized Signatory

 

	  	
PULSE ELECTRONICS LIMITED

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

  

9

  

	  	
ELECTRO CORPORACION MEXICANA S.A.DE C.V.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Special Agent

 

	  	
ELECTRO COMPONENTES MEXICANA S.A. DE C.V.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Special Agent

 

	  	
AMI DODUCO FRANCE S.A.S.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Authorized Signatory

 

	  	
PULSE ITALY S.R.L.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Attorney-In-Fact

  

10

  

 

	  	
PULSE DENMARK APS

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE ELECTRONICS (EUROPE) LTD.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE S.A.R.L.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Authorized Signatory

 

	  	
PULSE ELECTRONICS KOREA YH

	  	  	  
	  	
By:

	
  /s/ Michael Kho

 

	  	
Name:

	
Michael Kho

	  	
Title:

	
Managing Director

  

11

  

 

	  	
PULSE CANADA LTD

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
President & Secretary

 

	  	
SUINING PULSE ELECTRONICS CO. LTD.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Authorized Signatory

 

	  	
SONION (SUZHOU II) CO. LTD.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Authorized Signatory

 

	  	
PULSE ELECTRONICS (SHENZHEN) CO. LTD.

 

	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

  

12

  

 

	  	
PULSE NEDERLAND B.V.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
MIANYANG PULSE ELECTRONICS CO., LTD.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Authorized Signatory

 

	  	
DONGGUAN PULSE ELECTRONICS CO., LTD.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Authorized Signatory

 

	  	
PULSE ELECTRONICS (SINGAPORE) PTE LTD

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

  

13

  

 

	  	
AMI DODUCO, INC.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
President

 

	  	
KRANTZ COMPUTER, INC.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
President

 

	  	
PULSE ELECTRONICS, INC.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Secretary & Treasurer

 

	  	
PULSE COMPONENTS LIMITED

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

  

14

  

 

	  	
CST ELECTRONICS COMPANY LIMITED

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE LK

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE MEMS APS

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Chief Executive Officer

 

	  	
PULSE HTV APS

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Chief Executive Officer

 

  

15

  

 

	  	
AMI DODUCO COMPONENTS B.V.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
ROBITUSS PTE LTD

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
BOOTHBAY PTE LTD

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
TNL SINGAPORE COMPONENTS HOLDINGS PTE LTD

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

  

16

  

 

	  	
PULSE ELECTRONICS (SINGAPORE) PTE LTD

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE FINLAND OY

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE HONG KONG LIMITED

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
TECHNITROL DELAWARE, INC.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
President

 

  

17

  

 

	  	
PULSE (SUZHOU) WIRELESS PRODUCTS CO., LTD.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE ELECTRONICS GMBH

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE ELEKTRONİK SANAYİ VE TİCARET LİMİTED ŞİRKETİ

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

	  	
PULSE TUNISIA SARL

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Manager

  

18

  

	  	
AMI DODUCO NEDERLAND B.V.

	  	  	  
	  	
By:

	
  /s/ Drew A. Moyer

 

	  	
Name:

	
Drew A. Moyer

	  	
Title:

	
Director

 

 

19ex10_36-2.htm

Exhibit 10.36(2)

 

PULSE ELECTRONICS CORPORATION

PULSE ELECTRONICS (SINGAPORE) PTE LTD

12220 World Trade Drive

San Diego, CA 92128

 

JPMorgan Chase Bank, NA.

277 Park Avenue, Floor 23

New York, NY 10172

Attention: Deborah Winkler

 

OCM PE Holdings, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attention: Kenneth Liang

March [__], 2013

 

Re: Second Amendment Letter Agreement relating to certain amendments (“Letter Agreement”)

 

Ladies and Gentlemen:

 

Reference is made to that certain Credit Agreement, dated as of February 28, 2008, as amended and restated as of February 19, 2009, as further amended and restated as of August 5, 2011, as further amended and restated as of March 9, 2012, as further amended and restated as of November 7, 2012, as further amended as of November 19, 2012 and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Pulse Electronics Corporation (the “Company”), Pulse Electronics (Singapore) Pte Ltd (the “Singapore Borrower”), the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.  Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement.

 

1.             Amendments.  Please confirm your agreement to effectuate the following amendments to the Credit Agreement, effective as of the date hereof:

 

1.1           Certain Additional Collateral Obligations.  Section 6.16 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“6.16       Certain Additional Collateral Obligations. In the case of the Company and the other Loan Parties, as promptly as practicable after the Restructuring Closing Date, and in any event no later than March 25, 2013 (or such longer period as may be agreed to by the Administrative Agent or the Required Lenders), deliver all documents, financing statements, agreements and instruments, and take all other actions, that would be required to be delivered or taken in order for the Collateral and Guarantee Requirement to have been satisfied as of the Restructuring Closing Date and that were not so delivered or taken except to the extent otherwise agreed by the Administrative Agent or the Required Lenders pursuant to their respective authorities as set forth in the definition of the term “Collateral and Guarantee Requirement.”

1.2           Post-Closing Schedule.   Section 6.18 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

  

  

  

 

“6.18       Post-Closing Deliverables.   As promptly as practicable, and in any event no later than March 25, 2013, deliver all documents, agreements, opinions, instruments or other deliverables set forth in Schedule 6.18 hereto, in each case, in form and substance reasonably satisfactory to the Required Lenders; provided, that, to the extent FRE and its Subsidiaries cannot be joined (the “FRE Joinder”) to that certain (i) Intercompany Indebtedness Subordination Agreement, dated as of February 28, 2008, among the Company and certain of its Subsidiaries and the Administrative Agent (as amended supplemented or otherwise modified from time to time) or (ii) Global Intercompany Note, dated as of February 19, 2009, among the Company and certain of its Subsidiaries (as amended supplemented or otherwise modified from time to time), or, in each case, to any related amendment or other confirmation or reaffirmation thereof, by March 25, 2013, due to delays caused by having to comply with certain notice requirements relating to shareholder votes or independent director actions, the Company shall be permitted to request the Required Lenders’ approval (such approval not to be unreasonably withheld) to extend such deadline by an additional 30 days to effectuate the FRE Joinder (in form and substance reasonably satisfactory to the Required Lenders); provided, further, that, to the extent that the Company is unable to receive from the Bank of Korea such necessary approvals relating to the execution of the Loan Documents by Pulse Electronics Korea YH on or prior to March 25, 2013, due to delays caused solely by the Bank of Korea, the Company shall be permitted to request the Required Lenders’ approval (such approval not to be unreasonably withheld) to extend such deadline by an additional 30 days to effectuate the delivery all documents, agreements, opinions, instruments or other deliverables with respect to Pulse Electronics Korea YH set forth in Schedule 6.18 hereto (in form and substance reasonably satisfactory to the Required Lenders); provided, further, that without limiting the effect of any applicable provision hereunder or under any other Loan Document (including, without limitation, Section 8.01 hereof), upon the failure to satisfy any of the obligations of this Section 6.18 within the specified time frames set forth herein (taking into account any extension granted by Required Lenders with respect to the FRE Joinders and Pulse Electronics Korea YH), the Borrowers will be required to immediately pay the Lenders a fee in an amount equal to $500,000, which amount is on deposit in one of the Company’s bank accounts maintained with Citibank, N.A. (which account is subject to a Blocked Account Control Agreement dated as of February 26, 2013, among the Administrative Agent, the Company and Citibank, N.A.), and which amount shall be distributed (as a fee, and not as any prepayment or repayment of any portion of the Loans) among the Lenders on a pro rata basis in accordance with such Lenders’ relative share of all Loans outstanding hereunder.”

 

1.3           Schedules and Exhibits.  Schedule 6.18 to the Credit Agreement is hereby amended by deleting it in its entirety and replacing it with Schedule 6.18 attached hereto as Annex 1.

 

2.             This Letter Agreement is designated by the parties hereto to constitute a Loan Document.

 

3.             This Letter Agreement may not be amended or any provision hereof waived or modified except by a writing signed by each of the parties hereto.  The terms of this Letter Agreement shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns.

 

4.             THIS LETTER AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

5.             This Letter Agreement shall become effective only when signed by all of the parties hereto in the space provided below.  Delivery of an executed signature page of this Letter Agreement by electronic transmission shall be effective as delivery of a manually executed counterpart hereof.

 

[Remainder of page left blank intentionally]

 

  

2

  

 

IN WITNESS WHEREOF, the parties hereto have caused this Letter Agreement to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.

 

	  	
PULSE ELECTRONICS CORPORATION

	 	 
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

 

[***ALL THE LOAN PARTIES EXECUTE***]

 

  

  

  

 

[PLEASE DO NOT USE THIS SIGNATURE BLOCK TO SIGN FOR SINGAPORE BORROWER, BUT USE COMMON SEAL ATTACHED TO EMAIL INSTEAD]

 

	  	
PULSE ELECTRONICS (SINGAPORE) PTE LTD

	 	 	 
	  	
By:

	  
	  	  	
Name:

	  	  	
Title:

  

  

  

 

AGREED AND ACCEPTED:

 

JPMORGAN CHASE BANK, N.A.

 

	
By:

	
 

	  

	
Name:

	  
	
Title:

	  

  

  

  

 

	
AGREED AND ACCEPTED:

	  
	 	 
	
OCM PE HOLDINGS, L.P., as the sole Lender

	  
	
 

	  	  
	
By:

	
Oaktree Fund GP, LLC

	  
	
Its:

	
General Partner

	  
	
 

	  	  
	
By:

	
Oaktree Fund GP I, L.P.

	  
	
Its:

	
Managing Member

	  
	
 

	  	  
	
By:

	 	  
	
Name:

	  
	Title:  Authorized Signatory	  
	
 

	  	  
	
By:

	 	  
	
Name:

	  
	Title:   Authorized Signatory	  

  

  

  

 

Annex 1

 

Schedule 6.18

 

Document / Action

 

Loan and Security Documents

 

	
  

	
1.

	
Joinder to Global Intercompany Note and Note Power to be executed by Maxtop Profits Limited

 

	
  

	
2.

	
Confirmation of Intercompany Indebtedness Subordination Agreement to be executed by Maxtop Profits Limited

 

	
  

	
3.

	
Joinder to Intercompany Indebtedness Subordination Agreement to be executed by Maxtop Profits Limited

 

Certificates

 

	
  

	
·

	
An executed Officer Certificate’s from Maxtop Profits Limited and Pulse Electronics Korea YH attaching:

 

	
  

	
a.

	
Organizational Documents;

	
  

	
b.

	
Resolutions;

	
  

	
c.

	
Incumbency Certificate; and

	
  

	
d.

	
Good Standings for states of organization and states of qualification

	
  

	
e.

	
Attaching all required consents, licenses, and approvals or Stating that no such consents, licenses or approvals are necessary

 

Opinions

 

	
  

	
1.

	
Opinions of Foreign Counsel for Maxtop Profits Limited and Pulse Electronics Korea YH, subject to the limitations set forth in the first sentence of the last paragraph of the definition of “Collateral and Guarantee Requirement” in Section 1.01 of the Credit Agreement.

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