Document:

Exhibit 4.5

Olden Lane Trust Series
2

Series MSA Supplement

Dated
as of: April
28, 2017

This Series Master
Services Agreement Supplement (the “Series MSA Supplement”) relating to Olden Lane Trust Series 2 (“Series 2
of Trust”) among the Trust, Olden Lane Securities LLC, as Depositor, Olden Lane Advisors LLC, as Evaluator and Supervisor,
and The Bank of New York Mellon, as Custodian, Transfer Agent and Administrator, sets forth certain provisions in full and incorporates
other provisions by reference to the document entitled “Master Services Agreement For Olden Lane Trust, Effective for Unit
Investment Trusts Investing in Equity Securities, Debt Securities and/or Derivative Transactions Established On and After November
19, 2015” (the “Master Services Agreement”) and such provisions as are set forth in full and such provisions
as are incorporated by reference constitute a single instrument.

Witnesseth That:

In consideration
of the premises and of the mutual agreements herein contained, the Trust, the Depositor, the Custodian, the Transfer Agent, the
Administrator, the Evaluator and the Supervisor agree with respect to the Series 2 of Trust as follows:

PART
I

Master Services Agreement

The Trust hereby
appoints Olden Lane Securities LLC, as Depositor, Olden Lane Advisors LLC, as Evaluator and Supervisor and The Bank of New York
Mellon as Custodian, Transfer Agent and Administrator of the Series 2 of Trust, and by their execution and delivery hereof, Olden
Lane Securities LLC, Olden Lane Advisors LLC and The Bank of New York Mellon accept their respective appointments.

Subject to the provisions
of Part II hereof, all the provisions contained in the Master Services Agreement are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to the same extent as though said provisions had been
set forth in full in this instrument. In the event of any inconsistency between the provisions of this Series MSA Supplement and
the provisions of the Master Services Agreement, this Series MSA Supplement will prevail. All capitalized terms used and not otherwise
defined herein shall have the meaning ascribed to them in the Master Services Agreement.

PART
II

Special Terms and Conditions of Olden Lane Trust Series 2

The Series 2 of
Trust specifies the following special terms and conditions:

1.                  
The Securities for the Series 2 of Trust listed in Part 1 of Schedule A hereto have
been deposited with the Custodian by the Depositor or its designee. Listed in Part 2 of Schedule A are Contract Securities; the
Depositor or its designee will deliver to the Custodian the Securities represented by such Contract Securities as provided in the
Master Services Agreement.

2.                  
The aggregate number of Units for the Series 2 of Trust described in Section 2.03(a) of the Master Services Agreement (the
“Initial Number of Units”) shall be that number of Units set forth under “Statement of Financial Condition—Number
of Units” in the Prospectus for the Series 2 of Trust.

    	 

    	 

    

3.                  
The undivided beneficial interest in and ownership of the Series 2 of Trust represented by each Unit thereof is a fractional
amount, the numerator of which is one and the denominator of which shall be the amount set forth under “Statement of Financial
Condition—Number of Units” in the Prospectus for the Series 2 of Trust.

4.                  
For each Security, the Underlying Asset to Unit Ratio for the Series 2 of Trust shall be equal to the ratio of (i) the “Aggregate
Principal Amount” in respect of such Securities set forth under “Portfolio” in the Prospectus for Series 2 of
Trust to (ii) the number of Units for Series 2 of Trust set forth under “Statement of Financial Condition—Number of
Units” in the Prospectus for the Series 2 of Trust.

5.                  
The term “Record Dates” shall mean the “Record Dates” set forth under “Essential Information”
in the Prospectus for the Series 2 of Trust.

6.                  
The term “Distribution Dates” shall mean the “Distribution Dates” set forth under “Essential
Information” in the Prospectus for the Series 2 of Trust.

7.                  
The term “Special Record Dates” shall mean the dates that may be declared by the Depositor in accordance
with Section 24 of this Series MSA Supplement.

8.                  
The term “Special Distribution Dates” shall mean the dates that may be declared by the Depositor in accordance
with Section 24 of this Series MSA Supplement.

9.                  
 There shall be no “Deferred Sales Charge” or “Deferred Sales Charge Payment Dates”
With respect to Series 2 of Trust.

10.               
The term “Business Day” shall be as defined in the Master Services Agreement.

11.               
The term “Mandatory Termination Date” shall mean the “Termination Date” set forth under “Essential
Information” in the Prospectus for the Series 2 of Trust.

12.               
The Series 2 of Trust shall elect to be a Regulated Investment Company and, if required, the Depositor shall, on behalf
of the Series 2 of Trust, make such filings necessary to make such election.

13.               
The Depositor’s, Evaluator’s and Supervisor’s annual compensation shall be the amount set forth under
“Fee Table” in the Prospectus for the Series 2 of Trust.

14.               
The aggregate of the Custodian’s, the Transfer Agent’s and the Administrator’s annual compensation shall
be the amount set forth under “Fee Table” in the Prospectus for the Series 2 of Trust, with an aggregate minimum of
$10,000 per annum.

15.               
The term “Initial Date of Deposit” for the Series 2 of Trust shall be the date of this Series MSA Supplement.

16.               
The term “Organizational Expense Period” for the Series 2 of Trust shall mean the period ending on the
earlier of (i) the expiration of the initial offering period set forth in the Prospectus or (ii) the 180th day after
the Initial Deposit Date.

17.               
No Unitholder will be eligible for an In-Kind Distribution of Securities pursuant to Section 6.02 of the Master Services
Agreement.

18.               
Section 6.04 of the Master Services Agreement (“Rollover of Units”) shall not apply to the Series 2 of
Trust.

19.               
The “Creation and Development Fee” shall be the amount set forth under “Fee Table” in the
Prospectus for the Series 2 of Trust.

    	 	 -2-	 

    	 

    

20.               
The Depositor and Evaluator represent that the Evaluator’s determination of the value of each Security as of the close
of the New York Stock Exchange on the business day prior to the Initial Date of Deposit shall be set forth under “Statement
of Financial Condition—Trust Portfolio” in the Prospectus for Series 2 of Trust, incorporated herein by reference.

21.               
The Depositor may direct the dissolution of the Series 2 of Trust if due to (x) any action taken by a governmental body,
or brought in court, or (y) a change in law (including tax law) or in the application or official interpretation of any law), there
is or there is a substantial likelihood that the Series 2 of Trust will be prohibited in any material way from pursuing its principal
investment strategy in the same manner and economic terms as on the inception date.

22.               
For the Series 2 of Trust, the following provisions shall modify and supplement the Master Services Agreement:

		(i)	Section 3.06 (a) is modified to add the following sentences at the end thereof:

“If the
cash balances of the Series Income Account and Series Capital Account are insufficient to pay the expenses of the Series of Trust,
the Depositor shall sell or liquidate Securities or Derivative Transactions in an amount sufficient for the payment of such expenses,
provided, however, that the Depositor is authorized, but has no obligation, to assume any of the expenses otherwise payable by
the Series of Trust and in such event shall pay the expense directly or provide funds to the Custodian for such payment. 
The Depositor shall provide the Custodian written notice of the expenses to be assumed and their amount, and such assumption shall
be reflected in the Trust Series Evaluation commencing with the first Trust Series Evaluation following the Custodian’s
receipt of such notice.”

		(ii)	Section 3.06 (c) is modified by deleting such section in its entirety and replacing it with the
following:

“(c)The
Unitholder of Series 2 of Trust’s “Income Distribution” shall be equal to such Unitholder’s pro rata share
of the cash balance in the Series Income Account computed as of the close of business on the related Record Date on the basis of
one-half of the estimated annual interest income to Series 2 of Trust for the ensuing twelve months after deduction of (i) the
estimated fees and expenses then deductible pursuant to the preceding provisions of this Section 3.06 during the twelve month period
for which the interest income has been estimated, and (ii) the Administrator’s estimate of other expenses properly chargeable
to the Series Income Account pursuant to this Master Services Agreement which have accrued, as of such Record Date, or are otherwise
properly attributable to the period to which such Income Distribution relates. The Custodian shall advance out of its own funds
and deposit in and credit to the Series Income Account on each Distribution Date, to the extent that there is not sufficient cash
in the Series Income Account, the additional amount, if any, anticipated by the Custodian to be necessary to make the Income Distribution
as specified in the preceding sentence; the Custodian shall be entitled to be reimbursed from the Series Income Account when funds
are available therein from income on any of the Securities, including upon the sale of Securities to meet redemptions, for any
and all amounts advanced by it pursuant to this paragraph. The Custodian shall be deemed to be the beneficial owner of the income
of the Series of Trust to the extent such income is required to reimburse the Custodian for amounts advanced by it pursuant to
this paragraph; amounts payable to the Custodian in respect of such advances shall be secured by a lien on the Series of Trust
prior to the interests of Unitholders. In the event any issuer of Securities fails to make an anticipated distribution, or there
is a disposition of Securities or other event that reduces the net income which will be received from that estimated by the Custodian,
the Custodian shall, on the Record Date or Record Dates next following the Custodian’s determination that such event has
occurred, reduce the amount of the next following distribution or distributions by such amount as will enable the Custodian to
recover any advances to the Series of Trust referable to the anticipated receipt of such unrealized income. The Custodian may recover
the cost of advances as provided in Section 7.05.”

    	 	 -3-	 

    	 

    

 

		(iii)	Section 3.14 is modified to add the following sentence as the last sentence of the first paragraph
thereof:

“Each of
the Evaluator, Supervisor or Depositor may waive any portion of the compensation otherwise payable to it by written notice to the
Custodian. Any such waiver shall be irrevocable and shall be reflected in the Trust Series Evaluation commencing with the
first Trust Series Evaluation following the Custodian’s receipt of such notice.”

23.               
Pursuant to Section 2.03 of the Master Services Agreement, the Depositor hereby directs that the Transfer Agent shall record
the ownership by (i) the Depositor of a portion of the Initial Number of Units equal to one hundred (100) Units, and (ii) Esposito
Securities, LLC of a portion of the Initial Number of Units equal to one hundred and fifteen (115) Units.

24.               
(a) If at any time the balance of the Series Capital Account shall equal or exceed $5 per Unit, the Depositor may declare
a Special Record Date and Special Distribution Date; provided that no Special Record Date or Special Distribution Date may
occur within 30 calendar days of a Record Date or Distribution Date, respectively. The Transfer Agent shall provide notice to DTC
of such declaration by the Depositor.

(b) On each Special
Distribution Date, the Transfer Agent shall distribute to each Unitholder of record at the close of business on the related Special
Record Date such Unitholder’s pro rata share of the Series Capital Account (computed as provided below in paragraph (c) of
this Section 23).

(c) On each Special
Distribution Date, the pro rata share of the Series Capital Account of each Unitholder of record at the close of business on the
related Special Record Date shall be an amount per Unit equal to such Unitholder’s pro rata share of the cash balance of
the Series Capital Account after deduction of (i) the fees and expenses then deductible pursuant to Section 3.06(a) of the Master
Services Agreement and (ii) the Administrator’s estimate of other expenses properly chargeable to the Series Capital Account
pursuant to the Master Services Agreement which have accrued, as of such Special Record Date, or are otherwise properly attributable
to the period between such Special Record Date and the immediately preceding Record Date (except for monies on deposit therein
required to purchase Contract Securities) computed as of the close of business on such Special Record Date.

This Series MSA
Supplement shall be deemed effective when executed and delivered by the Trust, the Depositor, the Custodian, the Transfer Agent,
the Administrator, the Evaluator and the Supervisor. Facsimile or electronic signatures (including signatures in Portable Document
Format (PDF)) to this Series MSA Supplement shall be acceptable and binding, and this Series MSA Supplement may be delivered by
facsimile or other electronic means (including by electronic mail or a designated document storage website).

 

[SIGNATURE PAGE FOLLOWS]

  

    	 	 -4-	 

     

    

 

In
Witness Whereof, the undersigned have caused this Series MSA Supplement to be executed; all as of the day, month and year
first above written.

 

Olden Lane Trust Series
2,

a
Delaware Statutory Trust

By:
Olden Lane Securities LLC,

as Depositor

By: /s/ Michel Serieyssol___________________

Michel Serieyssol

CEO

Olden
Lane Securities LLC,

as Depositor

By: /s/ Michel Serieyssol___________________

Michel Serieyssol

CEO

Olden Lane Advisors
LLC,

as
Evaluator and Supervisor

By: /s/ Michel Serieyssol___________________

Michel Serieyssol

CEO

THE BANK OF NEW YORK
MELLON,

as
Custodian, Transfer Agent and Administrator

By: /s/ Rosalia A. Koopman
_________________

Rosalia A. Koopman

Managing Director

 

 

 

 

 

 

Series MSA Supplement – Signature Page

 

    	 

    	 

    

 

Schedule
A to Series MSA Supplement

 

Securities
Initially Deposited

 

in

 

Olden
Lane Trust Series 2

 

 

 

 

Part
1

 

Securities
Delivered to the Custodian on The initial Date of Deposit

 

 

 

 

 

Part
2

 

Contract
Securities

 

 

Incorporated herein by this reference and
made a part hereof is the "Trust Portfolio—Portfolio Composition” in schedule as set forth in the Prospectus for
Series 2 of Trust.Exhibit 4.6

 

 

 

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

THIS SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT (this “Amendment”), dated as of December 21, 2016, is by and among Globe Specialty Metals, Inc., a Delaware corporation (the “Company”), certain Subsidiaries of the Company party hereto (together with Company, the “Borrowers” and each a “Borrower”), the Lenders (as defined below) party hereto and Citizens Bank of Pennsylvania, as Administrative Agent (the “Agent”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement (as defined below).

W I T N E S S E T H

WHEREAS, the Borrowers, the various financial institutions from time to time party thereto (the “Lenders”) and the Agent are parties to that certain Credit Agreement dated as of August 20, 2013 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”);

WHEREAS, the Company has informed the Agent that it may fail to comply with the requirements of (i) Section 7.6A of the Credit Agreement for the Fiscal Quarter ending December 31, 2016, (ii) Section 7.6B of the Credit Agreement for the Fiscal Quarter ending December 31, 2016 and (iii) Section 1.1(b) of that certain Limited Waiver Agreement, dated as of October 6, 2016 (collectively, the “Potential Defaults”);

WHEREAS, the Company has requested that the Required Lenders (a) waive the Potential Defaults and (b) agree to certain amendments of the Credit Agreement; and

WHEREAS, the Required Lenders are willing to waive the Potential Defaults and agree to such amendments in accordance with and subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

ARTICLE I

WAIVER

1.1          Waivers. Notwithstanding the provisions of the Credit Agreement to the contrary, the Required Lenders hereby waive the Potential Defaults (the “Waiver”); provided, that the Company shall deliver a Compliance Certificate (along with the corresponding financial statements) to the Agent on or before April 1, 2017 (the “Interim Compliance Certificate”) demonstrating that, as of the most recent month end prior to such date for which financial statements are available (provided that such month end shall not be earlier than September 30, 2016), (i) the ratio of (A)(1) Consolidated Total Debt as at such date minus (2) unrestricted cash and Cash Equivalents on the balance sheet of the Company and its Subsidiaries; provided, however, credit shall only be given for 66% of cash and Cash Equivalents not held by the Company or a Domestic Subsidiary that is a Loan Party to (B) Consolidated EBITDA for the twelve month period ending on such date does not exceed 3.25 to 1.00 and (ii) the ratio of (A) Consolidated EBITDA for the twelve month period ending on such date to (B) Consolidated Interest Expense for such period is not less than 3.00 to 1.00. The failure to comply with the provisos contained in the foregoing sentence shall result in an immediate Event of Default under the Credit Agreement. For

 

 

 

avoidance of doubt, nothing contained herein shall waive, diminish, or otherwise affect the Company’s obligation to be in compliance with Sections 7.6A and 7.6B of the Credit Agreement on the last day of each Fiscal Quarter for the Fiscal Quarters ending March 31, 2017 and thereafter.

1.2          Effectiveness of Waiver. This Waiver shall be effective only to the extent specifically set forth herein and shall not (a) be construed as a waiver of any breach, Default or Event of Default other than the Potential Defaults nor as a waiver of any breach, Default or Event of Default of which the Lenders have not been informed by the Loan Parties, (b) affect the right of the Lenders to demand compliance by the Loan Parties with all terms and conditions of the Loan Documents, except as specifically modified or waived by this Waiver, (c) be deemed a waiver of any transaction or future action on the part of the Loan Parties requiring the Lenders’ or the Required Lenders’ consent or approval under the Loan Documents, or (d) except as waived hereby, be deemed or construed to be a waiver or release of, or a limitation upon, the Agent’s or the Lenders’ exercise of any rights or remedies under the Credit Agreement or any other Loan Document, whether arising as a consequence of any Default or Event of Default (other than with respect to the Potential Defaults) which may now exist or otherwise, all such rights and remedies hereby being expressly reserved.

ARTICLE II

AMENDMENTS TO CREDIT AGREEMENT

2.1        New Definitions. The following definitions are hereby added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order.

“Energy Assets” means the hydroelectric plants, and the assets associated with such business, owned by Ferroglobe and its Subsidiaries and located at each of the locations set forth on Schedule 1.1D attached hereto.

 

“Second Amendment Effective Date” means December 21, 2016.

2.2        Amendments to Section 2.1A(ii). Section 2.1A(ii) of the Credit Agreement is amended by:

(a)            replacing “The original amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite the name of such Lender on Schedule 2.1A and the original Revolving Loan Commitment Amount is $300,000,000” appearing in the second sentence of such Section with “The amount of each Revolving Lender’s Revolving Loan Commitment as of the Second Amendment Effective Date is set forth opposite the name of such Lender on Schedule 2.1A and the Revolving Loan Commitment Amount as of the Second Amendment Effective Date is $200,000,000”; and

(b)            adding the following sentence at the end of such subsection: “Notwithstanding anything herein to the contrary, during the period from the Second Amendment Effective Date through March 31, 2017, the Total Utilization of Revolving Loan Commitments shall not exceed $150,000,000 and solely for purposes of calculating the amount of the Commitment Fee under Section 2.3A, the Revolving Loan Commitment Amount shall be deemed to be $150,000,000 for such period.”

2.3        Amendment to Section 2.2A(i). The proviso appearing at the end of Section 2.2A(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

provided that during the period from the Second Amendment Effective Date through March 31, 2017, the applicable margin for Eurocurrency Rate Loans shall be 4.00% per annum and for Base Rate Loans shall be 3.00% per annum.

 

 

2

 

2.4       Amendment to Section 2.3A. The proviso appearing at the end of Section 2.3A of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

provided that at all times following the Second Amendment Effective Date, the Commitment Fee shall be 0.50% per annum.

2.5        Amendment to Section 6. Section 6 of the Credit Agreement shall be amended by adding new Section 6.12 and Section 6.13 at the end of such section to read as follows:

6.12 Energy Assets. No later than the fifth Business Day following the date of receipt by Ferroglobe or any of its Subsidiaries of any net cash proceeds in respect of the sale of Energy Assets, the Company shall obtain and receive such net cash proceeds, which shall be retained by the Company and used for working capital and other general corporate purposes; provided, however, that the Company shall not be required under this Section 6.12 to obtain and receive proceeds from the sale of Energy Assets in an aggregate amount in excess of $28,750,000.

6.13 Investment Banker. On or before January 15, 2017, the Company shall have retained an investment banker (the “Investment Banker”) to assess the Company’s capital structure and assist the Company in raising additional debt and/or equity investment, and the Company shall have delivered to the Administrative Agent an executed copy of an engagement letter with such investment banker (or other evidence of engagement) in form and substance reasonably satisfactory to the Administrative Agent. The Company shall continue to retain the Investment Banker through April 1, 2017, pursuant to terms that are reasonably acceptable to the Administrative Agent and, for the avoidance of doubt, the failure to do so shall constitute an Event of Default. In the event that the Company terminates or otherwise modifies the terms of the Investment Banker’s engagement, the Company shall provide the Administrative Agent with written notice within two (2) Business Days of such termination or modification. On February 15, 2017 and March 15, 2017, the Company shall provide (and shall use its commercially reasonable efforts to cause the Investment Banker to also provide) an update (in form and substance satisfactory to the Administrative Agent) to the Administrative Agent regarding the Investment Banker’s and the Company’s efforts to raise additional debt and/or equity investment for the Company.

2.6        Amendment to Section 7.5. Section 7.5 of the Credit Agreement shall be amended by adding the following sentence at the end of such section:

Notwithstanding anything to the contrary contained in this Credit Agreement (including, without limitation, any exceptions set forth in Section 7.3 or this Section 7.5), no Restricted Junior Payments, Investments, distributions, or any other payments shall be made by the Borrowers or any of their Subsidiaries to Ferroglobe at any time following the Second Amendment Effective Date.

2.7        Amendment to Section 8.3. Section 8.3 of the Credit Agreement shall be amended and restated in its entirety to read as follows:

 

 

3

Failure of Company to perform or comply with any term or condition contained in subsection 2.4B(iii)(f), 2.5B, 2.5C, 6.1(i), 6.2, 6.12, 6.13 or any of Sections 7.1, 7.2A, 7.3, 7.4, 7.5, 7.6, 7.7, 7.10, 7.11(b) or 7.12 (solely with respect to subordinated Indebtedness) of this Agreement; or

2.8        Amendment to Schedule 2.1A. Schedule 2.1A to the Credit Agreement is replaced with Schedule 2.1A attached hereto. Each of the parties hereto agrees that, after giving effect to this Amendment, the revised Revolving Loan Commitment of each Lender (as of the Second Amendment Effective Date) shall be as set forth on Schedule 2.1A attached hereto. In connection with this Amendment, the outstanding Revolving Loans and participation interests in Letters of Credit shall be reallocated by causing such fundings and repayments (which shall not be subject to any processing and/or recordation fees) among the Lenders of the Revolving Loans as necessary such that, after giving effect to the decreases pursuant to this Amendment, each Lender will hold Revolving Loans based on its Revolving Loan Commitment (after giving effect to such decreases). The Borrowers shall be responsible for any costs arising under Section 2.6 of the Credit Agreement resulting from such reallocation and repayments.

2.9        Addition of Schedule 1.1D. A new Schedule 1.1D in the form attached as Schedule 1.1D to this Amendment is hereby added to the Credit Agreement.

ARTICLE III

CONDITIONS TO EFFECTIVENESS

  

3.1          Closing Conditions. This Amendment shall be deemed effective as of the date set forth above (the “Effective Date”) upon satisfaction of the following conditions (in form and substance reasonably acceptable to the Agent):

(a)            Executed Amendment. The Agent shall have received a copy of this Amendment duly executed by each of the Borrowers, the other Loan Parties, the Agent and the Required Lenders.

(b)            Other Documents. The Agent shall have received:

(i)              A file-stamped termination statement in form and substance satisfactory to the Agent with respect to UCC-1 Financing Statement No. 2012 2531806 filed on June 29, 2012 with the Delaware Secretary of State;

 

(ii)            A list of all of the Loan Parties’ Deposit Accounts with banks other than the Agent in form and substance satisfactory to the Agent; and

 

(iii)          All other documents from the Loan Parties as reasonably requested by the Agent prior to the date hereof.

(c)            Fees and Expenses.

(i)             The Agent shall have received from the Borrowers, for the account of each Lender that executes and delivers a signature page to this Amendment to the Agent by 5:00 p.m. (EST) on or before December 20, 2016 (each such Lender, a “Consenting  Lender”, and collectively, the “Consenting Lenders”), a consent fee in an amount equal to 10 basis points on the aggregate Revolving Loan Commitments of such Consenting Lender, determined immediately prior to giving effect to this Amendment.

  

4

 

(ii)            The Agent shall have received from the Borrowers such other fees and reasonable and documented out-of-pocket expenses that are payable in connection with the consummation of the transactions contemplated hereby, and King & Spalding LLP shall have received from the Borrowers payment of all reasonable and documented fees and expenses incurred prior to the date hereof or in connection with this Amendment.

ARTICLE IV

MISCELLANEOUS

4.1        Amended Terms. On and after the Effective Date, all references to the Credit Agreement in each of the Loan Documents shall hereafter mean the Credit Agreement as amended by this Amendment. Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.

4.2        Representations and Warranties of Borrowers. Each of the Loan Parties represents and warrants as follows:

(a)            Such Loan Party has taken all necessary action to authorize the execution, delivery and performance of this Amendment.

(b)            Such Loan Party has duly executed and delivered the Amendment and the Amendment constitutes such Loan Party’s legal, valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

(c)            No approval is required to be obtained by such Loan Party or any of its Subsidiaries in connection with the execution, delivery or performance by such Loan Party of this Amendment; except for such approvals which have been issued or obtained by such Loan Party or any of its Subsidiaries which are in full force and effect.

(d)            The representations and warranties set forth in Section 5 of the Credit Agreement are (i) with respect to representations and warranties that contain a materiality qualification, true and correct as of the date hereof (except for those which expressly relate to an earlier date) and (ii) with respect to representations and warranties that do not contain a materiality qualification, true and correct in all material respects as of the date hereof (except for those which expressly relate to an earlier date).

(e)            After giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default or an Event of Default.

4.3        Reaffirmation of Obligations. Each Loan Party acknowledges and agrees that: (a) as of November 30, 2016, the aggregate principal balance of the outstanding Loans under the Credit Agreement is at least $125,000,000; (b) the outstanding amount of Letters of Credit issued under the Credit Agreement is at least $382,436.82; (c) in addition to the outstanding principal amount of the Loans, the Loan Parties are further indebted under the Credit Agreement for all other interests, costs, fees and expenses due and owing under the Credit Agreement and the Loan Documents in accordance with the terms thereof; and (d) all Obligations constitute the valid and binding obligations of such Loan Party enforceable against such Loan Party without setoff, counterclaim, or defense, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and by general principles of equity. Each Loan Party hereby ratifies the Credit Agreement and acknowledges and reaffirms that: (y) that it is bound by all terms of the Credit Agreement applicable to it and (z) it is responsible for the observance and full performance of its respective Obligations.

  

5

 

4.4        Loan Document. This Amendment shall constitute a Loan Document under the terms of the Credit Agreement.

4.5        Expenses. The Borrowers agree to pay all reasonable and documented costs and expenses of the Agent in connection with the preparation, execution and delivery of this Amendment (including, without limitation, the reasonable and documented fees and expenses of the Agent’s legal counsel).

4.6        Entirety. This Amendment and the other Loan Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.

4.7        Counterparts; Telecopy. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Amendment by signing any such counterpart. This Amendment shall be effective when it has been executed by the Borrowers, the Agent and the Consenting Lenders constituting the Required Lenders and each party has transmitted executed signature pages by telefacsimile or in ‘PDF’ format by electronic mail.

4.8        GOVERNING LAW. THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY OR DISPUTE ARISING OUT OF OR RELATING TO THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CHOICE OF LAW RULES (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

4.9        Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

4.10       Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The consent to jurisdiction and waiver of jury trial provisions set forth in Sections 10.16 and 10.17 of the Credit Agreement, respectively, are hereby incorporated by reference, mutatis mutandis.

4.11       General Release. In consideration of the Agent’s and Consenting Lenders’ willingness to enter into this Amendment, each Loan Party hereby releases and forever discharges the Agent, the Issuing Lender, the Swing Line Lender, the Lenders and the Agent’s, the Issuing Lender’s, the Swing Line Lender’s, and each of the Lender’s respective predecessors, successors, assigns, officers, managers, directors, employees, agents, attorneys, representatives, and affiliates (hereinafter all of the above collectively referred to as the “Bank Group”), from any and all claims, counterclaims, demands, damages, debts, suits, liabilities, actions and causes of action of any nature whatsoever, including, without limitation, all claims, demands, and causes of action for contribution and indemnity, whether arising at law or in equity, whether known or unknown, whether liability be direct or indirect, liquidated or unliquidated, whether absolute or contingent, foreseen or unforeseen, and whether or not heretofore asserted, which any Loan Party may have or claim to have against any of the Bank Group.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

  

6

 

IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed on the date first above written.

 

 

	 	
GLOBE SPECIALTY METALS, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

	 	
ALABAMA SAND AND GRAVEL, INC., a Delaware corporation

	 
	 	
GLOBE METALLURGICAL INC., a Delaware corporation

	 
	 	
GLOBE METALS ENTERPRISES, INC., a Delaware corporation

	 
	 	
GSM ALLOYS I INC., a Delaware corporation

	 
	 	
GSM ALLOYS II INC., a Delaware corporation

	 
	 	
GSM FINANCIAL, INC., a Delaware corporation

	 
	 	
GSM SALES, INC., a Delaware corporation

	 
	 	
L F RESOURCES, INC., a Delaware corporation

	 
	 	
SOLSIL, INC., a Delaware corporation

	 
	 	
GSM ENTERPRISES HOLDINGS INC., a Delaware corporation

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

  

	 	
CORE METALS GROUP HOLDINGS LLC, a Delaware limited liability company

	 
	 	By:	GLOBE METALS ENTERPRISES, INC., as sole member 	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

	 	
CORE METALS GROUP LLC, a Delaware limited liability company

	 
	 	By:	
CORE METALS GROUP HOLDINGS LLC, as sole member

	 
	 	 	By:	
GLOBE METALS ENTERPRISES, INC., as sole member

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
GBG FINANCIAL, LLC, a Delaware limited liability company

	 
	 	
GBG HOLDINGS, LLC, a Delaware limited liability company

	 
	 	By:	
GSM ENTERPRISES LLC, as sole member 

	 
	 	By: 	
GLOBE SPECIALTY METALS, INC., as sole member

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
GLOBE ARGENTINA HOLDCO LLC, a Delaware limited liability company

	 
	 	By:	
GLOBE SPECIALTY METALS, INC., as sole member

	 
	 		 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

	 	
GLOBE REALTY LLC, a New York limited liability company

	 
	 	By:	
GLOBE SPECIALTY METALS, INC., as sole member 

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
GSM ENTERPRISES LLC, a Delaware limited liability company

	 
	 	By:	
GLOBE SPECIALTY METALS, INC., as sole member

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
METALLURGICAL PROCESS MATERIALS, LLC, 

a Delaware limited liability company

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
TENNESSEE ALLOYS COMPANY LLC, 

a Delaware limited liability company

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
ALDEN RESOURCES LLC, a Delaware limited liability company

	 
	 	
GATLIFF SERVICES, LLC, a Delaware limited liability company

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

 

 

	 	
ALDEN SALES CORP, LLC, a Delaware limited liability company

	 
	 	By:	
GBG HOLDINGS, LLC, as sole member 

	 
	 	 	By:	
GSM ENTERPRISES LLC, as sole member

	 
	 	 	 	By:	
GLOBE SPECIALTY METALS, INC., as sole member

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
ALDEN RESOURCES LLC, a Delaware limited liability company

	 
	 	By:	
ALDEN RESOURCES, LLC, as sole member

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

	 	
NORCHEM, INC, a Florida corporation

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph Ragan	 
	 	 	Name:  Joseph Ragan	 
	 	 	Title:    CFO	 
	 	 	 	 

 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

	 	
CITIZENS BANK OF PENNSYLVANIA,

	 
	 	
as Agent and a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ David W. Stack	 
	 	 	
David W. Stack

	 
	 	 	
Its Duly Authorized Signatory

	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

 

 

	 	
Compass Bank d/b/a  BBVA Compass, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Cameron D. Gateman	 
	 	 	Name:  Cameron D. Gateman	 
	 	 	Title:    Senior Vice President	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

 

 

	 	
Branch Banking and Trust Company ________________, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Max Greer	 
	 	 	Name:  Max Greer	 
	 	 	Title:    Senior Vice President	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

	 	
PNC BANK, NATIONAL ASSOCIATION, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Mahir J. Desai	 
	 	 	Name:  Mahir J. Desai	 
	 	 	Title:    Assistant Vice President	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

  

	 	
WELLS FARGO BANK, NATIONAL ASSOCIATION,

	 
	 	
as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Harry E. Ellis	 
	 	 	Name:  Harry E. Ellis	 
	 	 	Title:    Senior Vice President	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

	 	
Fifth Third Bank, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Jim Schmalz	 
	 	 	Name:  Jim Schmalz	 
	 	 	Title:    Vice President	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule 2.1A

Commitments and Pro Rata Shares

  

	
Revolving Lender

	
Revolving Loan Commitment

	
Citizens Bank of Pennsylvania

	
$ 36,666,666.66

	
PNC Bank, N.A.

	
$ 31,666,666.67

	
Wells Fargo Bank, N.A.

	
$ 31,666,666.67

	
Compass Bank d/b/a BBVA Compass

	
$ 23,333,333.33

	
Branch Banking & Trust Company

	
$ 16,666,666.67

	
Citibank, N.A.

	
$ 16,666,666.67

	
Fifth Third Bank

	
$ 16,666,666.67

	
Capital One, National Association

	
$ 13,333,333.33

	
HSBC Bank USA, N.A.

	
$ 13,333,333.33

	 	 
	
Total

	
$200,000,000.00

 

 

 

 

 

 

 

GLOBE

SECOND AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER AGREEMENT

Schedule 1.1D

	
Plant

	
Location

	
FerroAtlántica S.A.

	 
	
Castrelo

	
A Coruña (Castrelo) / Xallas river

	
Sta. Eugenia I

	
A Coruña (Ezaro) / Xallas river

	
Sta. Eugenia II

	
A Coruña (Ezaro) / Xallas river

	
Nuevo Pindo

	
A Coruña (Ezaro) / Xallas river

	
Fervenza

	
A Coruña (A Reboira) / Xallas river

	
Puente Olveira

	
A Coruña (Castrelo) / Xallas river

	
Carantoña

	
A Coruña (Pasarela) / Rio Grande

	
Hidro Nitro Española

	 
	
S.A.

	 
	
Barasona

	
Huesca (Graus) / Esera river

	
El Ciego

	
Huesca (Estada) / Cinca river

	
Arias I

	
Huesca (Somontano de Barbastro) / Cinca river

	
Arias II

	
Huesca (Somontano de Barbastro) / Cinca river

	
Ariéstolas

	
Huesca (Somontano de Barbastro) / Cinca river

	
FerroPem S.A.S.*

	 
	
Saint-Béron

	
Saint-Béron / Rhône-Alpes region

	
Villelongue

	
Pierrefite / Hautes-Pyrénées region

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00270-of-00352.parquet"}]]