Document:

Sixth Supplemental Indenture dated June 9, 2006

 Exhibit 10.1 
  

 PRECISION CASTPARTS CORP. AND 
 THE GUARANTEEING SUBSIDIARIES 
 TO 
 U.S. BANK NATIONAL ASSOCIATION 
 as Trustee

  

 SIXTH SUPPLEMENTAL
INDENTURE 
 Dated as of June 9, 2006 
  

 SIXTH SUPPLEMENTAL INDENTURE 
 Sixth Supplemental Indenture (this “Supplemental Indenture”), dated as of June 9, 2006, among Special Metals Corporation, a
Delaware corporation, A-1 Wire Tech, Inc., an Illinois corporation, and Huntington Alloys Corporation, a Delaware corporation (each a ”Guaranteeing Subsidiary” and, together, the “Guaranteeing Subsidiaries”),
each a subsidiary of Precision Castparts Corp. (or its permitted successor), an Oregon corporation (the “Company”); the Company; the other Guarantors (as defined in the Indenture referred to herein); and U.S. Bank National
Association (as successor to J.P. Morgan Trust Company, National Association, which was successor in interest to Bank One Trust Company, N.A., which was successor in interest to The First National Bank of Chicago), as trustee under the Indenture
referred to below (the “Trustee”). 
 W I T N E S S E T H 
 WHEREAS, the Company and the other Guarantors have heretofore executed and delivered to the Trustee an indenture, dated as of December 17, 1997, as
amended by indentures supplemental thereto (the “Indenture”; which term as used herein includes the Second Supplemental Indenture dated December 9, 2003, establishing the title, form and terms of $200,000,000 aggregate
principal amount of the Company’s 5.60% Senior Notes due 2013 (the “Notes”)); 
 WHEREAS, the Indenture provides that
under certain circumstances the Guaranteeing Subsidiaries shall execute and deliver to the Trustee a supplemental indenture pursuant to which such Guaranteeing Subsidiaries shall unconditionally guarantee all of the obligations of the Company under
the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and 
 WHEREAS, pursuant to
Section 901 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 NOW THEREFORE, in
consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, each of the Guaranteeing Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of the
Holders of the Notes as follows: 
 1. Capitalized Terms. Capitalized terms used herein without definition shall have the meanings
assigned to them in the Indenture. 
 2. Agreement to Guarantee. Each of the Guaranteeing Subsidiaries hereby agrees as follows:

 (a) Along with all other Guarantors, to jointly and severally Guarantee to each Holder of a Note authenticated and
delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of the Indenture, the Notes or the obligations of the Company hereunder or thereunder, that: 
 (i) the principal of, premium, if any, and interest on the Notes will be promptly paid in full when due, whether at maturity, by
acceleration, redemption or otherwise, and interest on the overdue principal of, premium, if any, and interest on the Notes, if lawful (subject in all cases to any applicable grace period provided herein or therein), and all other obligations of the
Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 
  

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 (ii) in case of any extension of time of payment or renewal of any Notes or any of such
other obligations, the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. Failing payment when due of any amount so guaranteed
or any performance so guaranteed for whatever reason, such Guaranteeing Subsidiary and the other Guarantors shall be jointly and severally obligated to pay the same immediately. This Note Guarantee is a guarantee of payment and not of
collection. 
 (b) The obligations hereunder shall be unconditional, irrespective of the validity, regularity or
enforceability of the Notes or the Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any
action to enforce the same or any other circumstance that might otherwise constitute a legal or equitable discharge or defense of such Guaranteeing Subsidiary or another Guarantor other than the defeasance of the Securities pursuant to
Section 1302 of the Indenture. 
 (c) Subject to Section 507 of the Indenture, the following is hereby waived:
diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever. 
 (d) The Note Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and the Indenture.

 (e) If any Holder or the Trustee is required by any court or otherwise to return to the Company, such Guaranteeing
Subsidiary or the other Guarantors, or any Custodian, Trustee, liquidator or other similar official acting in relation to either the Company, such Guaranteeing Subsidiary or the other Guarantors, any amount paid by either the Trustee or such Holder,
this Note Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect. 
 (f) Such
Guaranteeing Subsidiary shall not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. 
 (g) As between such Guaranteeing Subsidiary and the other Guarantors, on the one hand, and the Holders and the Trustee, on the other hand,
(x) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article Five of the Indenture for the purposes of this Note Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the event 

  

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of any declaration of acceleration of such obligations as provided in Article Five of the Indenture, such obligations (whether or not due and payable) shall
forthwith become due and payable by such Guaranteeing Subsidiary and the other Guarantors for the purpose of the Note Guarantee. Such Guaranteeing Subsidiary shall have the right to seek contribution from any non-paying Guarantor so long as the
exercise of such right does not impair the rights of the Holders under the Note Guarantee. 
 (h) That, pursuant to
Section 1402 of the Indenture, it is the intention of such Guaranteeing Subsidiary that its Note Guarantee not constitute a fraudulent transfer or conveyance for purposes of applicable Bankruptcy or fraudulent conveyance laws to the extent
applicable to its Note Guarantee, and to effectuate the foregoing intention, agrees hereby irrevocably that the obligations of such Guaranteeing Subsidiary will be limited to the maximum amount as will (after giving effect to such maximum amount and
any other contingent and fixed liabilities of such Guaranteeing Subsidiary that are relevant under any applicable Bankruptcy or fraudulent conveyance laws, and after giving effect to any collections from, rights to receive contribution from or
payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under Article Fourteen of the Indenture) result in the obligations of such Guaranteeing Subsidiary under its Note Guarantee not constituting a
fraudulent transfer or conveyance. 
 3. Execution and Delivery. Each Guaranteeing Subsidiary agrees that the Note Guarantees shall
remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Note Guarantee. 
 4. Guaranteeing
Subsidiaries May Consolidate, Etc., on Certain Terms. None of the Guaranteeing Subsidiaries may sell or otherwise dispose of all or substantially all of its assets, or consolidate with or merge with or into (whether or not such Guaranteeing
Subsidiary is the surviving Person) another Person other than the Company or another Guarantor, unless: 
 (a) immediately
after giving effect to such transaction, no Event of Default exists; and 
 (b) (i) the Person acquiring the property in any
such sale or disposition or the Person formed by or surviving any such consolidation or merger (if other than such Guaranteeing Subsidiary) is a corporation or limited liability company, organized or existing under the laws of the United States, any
state thereof or the District of Columbia and assumes all the obligations of such Guaranteeing Subsidiary under this Indenture, its Note Guarantee and the Registration Rights Agreement pursuant to a supplemental indenture satisfactory to the
Trustee; or 
 (ii) immediately after giving effect to such sale or other disposition, such Guaranteeing Subsidiary would not
otherwise be required to provide a Note Guarantee pursuant to Section 1010(vi) of the Indenture and such sale or disposition otherwise complies with Article 8 of the Indenture. 
 In case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental indenture, executed and
delivered to the Trustee and 

  

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satisfactory in form to the Trustee, of the Note Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and
conditions of this Indenture to be performed by such Guaranteeing Subsidiary, such successor Person shall succeed to and be substituted for such Guaranteeing Subsidiary with the same effect as if it had been named herein as such Guaranteeing
Subsidiary. Such successor Person thereupon may cause to be signed any or all of the Note Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore shall not have been signed by the Company and delivered to the
Trustee. All the Note Guarantees so issued shall in all respects have the same legal rank and benefit under this Indenture as the Note Guarantees theretofore and thereafter issued in accordance with the terms of this Indenture as though all of
such Note Guarantees had been issued at the date of the execution hereof. 
 Except as set forth in Articles 8 and 10 of the Indenture, and
notwithstanding clauses (a) and (b) above, nothing contained in this Indenture or in any of the Notes shall prevent any consolidation or merger of any Guaranteeing Subsidiary with or into the Company or another Guarantor, or shall prevent
any sale or conveyance of the property of any Guaranteeing Subsidiary as an entirety or substantially as an entirety to the Company or another Guarantor. 
 5. Releases. 
 (a) A Guaranteeing Subsidiary will be released and relieved of any
obligations under its Note Guarantee: (i) in connection with any sale of all or substantially all of the assets of such Guaranteeing Subsidiary to a Person that is not (either before or after giving effect to such transaction) an Affiliate
of the Company in compliance with Article Fourteen of the Indenture; or (ii) if such Guaranteeing Subsidiary consolidates with or merges with or into another Person other than the Company or another Guarantor in compliance with Article Fourteen
of the Indenture, and such Guaranteeing Subsidiary is not the surviving Person, or (iii) if such Guaranteeing Subsidiary would not otherwise be required to provide a Note Guarantee pursuant to Section 1010(vi) of the Indenture, or
(iv) upon legal defeasance of the Company’s and all Guarantors’ obligations pursuant to Section 1302 of the Indenture or upon satisfaction and discharge of the Indenture pursuant to Section 401 of the Indenture. Upon
delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that one of the foregoing requirements has been satisfied and that the conditions to the release of such Guaranteeing Subsidiary under
this Section 5 have been satisfied, the Trustee shall execute any documents reasonably required in order to evidence the release of such Guaranteeing Subsidiary from its obligations under its Note Guarantee. 
 (b) Until release from its obligations under its Note Guarantee, each Guaranteeing Subsidiary shall remain liable for the full amount of
principal of, premium, if any, and interest on the Notes and for the other obligations of such Guaranteeing Subsidiary under the Indenture as provided in Article Fourteen of the Indenture. 
 6. No Recourse Against Others. No past, present or future director, officer, employee, incorporator, member, stockholder or agent of the
Guaranteeing Subsidiaries, as such, shall have any liability for any obligations of the Company or any other Guarantor under the Notes, any Note Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by
reason of, such obligations or their creation. Each Holder of the Notes by 

  

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accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver
may not be effective to waive liabilities under the federal securities laws. 
 7. NEW YORK LAW TO GOVERN. THE LAW OF THE STATE
OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE. 
 8. Counterparts. The parties may sign any number
of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 
 9. Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. 
 10. Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which
recitals are made solely by the Guaranteeing Subsidiaries and the Company. 
 [Signature page follows.] 
  

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

			
	SPECIAL METALS CORPORATION
		
	By:	 	 /s/ GEOFFREY A. HAWKES

		 	Name: Geoffrey A. Hawkes
		 	Title: Vice President, Treasurer and Assistant Secretary

  

			
	A-1 WIRE TECH, INC.
		
	By:	 	 /s/ GEOFFREY A. HAWKES

		 	Name: Geoffrey A. Hawkes
		 	Title: Vice President, Treasurer and Assistant Secretary
	
	HUNTINGTON ALLOYS CORPORATION
		
	By:	 	 /s/ GEOFFREY A. HAWKES

		 	Name: Geoffrey A. Hawkes
		 	Title: Vice President, Treasurer and Assistant Secretary
	
	PRECISION CASTPARTS CORP.
		
	By:	 	 /S/ GEOFFREY A. HAWKES

		 	Name: Geoffrey A. Hawkes
		 	Title: Vice President, Treasurer and Assistant Secretary
	
	U.S. BANK NATIONAL ASSOCIATION,
	 AS TRUSTEE

		
	By:	 	 /s/ LINDA A. MCCONKEY

		 	Name: Linda A. McConkey
		 	Title: Vice President

  

 6Amendment No. 8 to the Loan and Security Agreement dated as of August 10, 2006

 Exhibit 10.1 
 WAIVER AND AMENDMENT NO. 8 TO THE LOAN AND SECURITY AGREEMENT DATED AS OF JANUARY 31, 2002 AMONG LASALLE BANK NATIONAL ASSOCIATION, AS A LENDER AND AS AGENT FOR THE LENDERS, THE LENDERS AND COBRA ELECTRONICS
CORPORATION 
 THIS WAIVER AND AMENDMENT NO. 8 (this “Amendment”) is made as of the 10th day of August, 2006 to the Loan and Security Agreement dated January 31, 2002 (as amended from time to time, the “Loan Agreement”);
unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed to them in the Loan Agreement among Cobra Electronics Corporation (“Borrower”), LaSalle Bank National Association as agent (“Agent”)
for itself (in its individual capacity, “LaSalle”) and the other Lenders from time to time party thereto. 
 WHEREAS, Borrower has
notified Agent and Lenders that Borrower has breached (i) Section 14(a) of the Loan Agreement for the fiscal quarter ended June 30, 2006, and (ii) Section 14(b) of the Loan Agreement for the fiscal quarter ended
June 30, 2006, and such breaches constitute Events of Default under the Loan Agreement (collectively, the “Existing Defaults”); and 
 WHEREAS, Borrower has requested that Agent and Lenders waive the Existing Defaults and amend certain provisions of the Loan Agreement and Agent and Lenders have agreed to do so subject to the terms and conditions hereof. 
 NOW, THEREFORE, in consideration of the foregoing, and the mutual covenants herein contained, and such other consideration as the parties mutually agree,
the parties hereto agree as follows: 
 1. Waiver. Subject to the satisfaction of the conditions set forth herein, Agent and Lenders
hereby waive the Existing Defaults. The foregoing waiver shall not constitute a waiver of any other Events of Default or any other breaches of the Loan Agreement, whether now existing or hereafter arising. 
 2. Amendment. Borrower, Agent and Lenders agree to amend the Loan Agreement as follows: 
 (a) Section 14(a) of the Loan Agreement is hereby amended and restated in its entirety, as follows: 
 (a) Tangible Net Worth. Borrower’s Tangible Net Worth shall not at any time be less than the Minimum Tangible Net Worth;
“Minimum Tangible Net Worth” being defined for purposes of this 

 
subsection as (i) $50,000,000 at all times from the date hereof through December 30, 2006 and (ii) thereafter, from the last day of each
Fiscal Year of Borrower through the day prior to the last day of each immediately succeeding Fiscal Year of Borrower, the Minimum Tangible Net Worth during the immediately preceding period plus ninety percent (90%) of Borrower’s net income
(but without reduction for any net loss) for the Fiscal Year ending on the first day of the current period as reflected on Borrower’s audited year end financial statement; and “Tangible Net Worth” being defined for purposes of
this subsection as Borrower’s consolidated shareholders’ equity (including retained earnings) less the book value of all intangible assets (which shall consist of goodwill, intellectual property, prepaid expenses, equity in foreign
subsidiaries and deferred taxes) plus the amount of any debt subordinated to Agent and Lenders, all as determined under generally accepted accounting principles applied on a basis consistent with the financial statements dated December 31, 2005
except as set forth herein. In no event shall (i) the amount of Borrower’s investment in Horizon Navigation, Inc. and (ii) the capitalized development costs associated with GPS product developments be deemed intangible assets for the
purposes of this calculation. 
 (b) Section 14(b) of the Loan Agreement is hereby amended and restated in its entirety, as follows:

 (b) EBIT. Borrower shall not permit EBIT for the calendar quarter ending on any date set forth below to be less than the
amount set forth below for such period. 
  

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	 Calendar Quarter Ending
	  	Amount
	 September 30, 2006
	  	$	100,000
	 December 31, 2006
	  	$	1,750,000

 (c) Section 14(c) of the Loan Agreement is hereby amended and restated in its entirety, as
follows: 
 (c) Capital Expenditure Limitations. Borrower and its Subsidiaries shall not make any Capital Expenditures if, after
giving effect to such Capital Expenditures, the aggregate cost of all such fixed assets purchased or otherwise acquired would exceed $6,000,000 during any Fiscal Year. 
 3. Representations and Warranties of Borrower. Borrower represents and warrants that, as of the date hereof: 
 (a) Borrower has the right and power and is duly authorized to enter into this Amendment and all other agreements executed in connection herewith; 
 (b) After giving effect to this Amendment, no Event of Default or an event or condition which upon notice, lapse of time or both will constitute an Event of Default has occurred and is continuing; 
 (c) The execution, delivery and performance by Borrower of this Amendment and the other agreements to which Borrower is a party (i) have been duly
authorized by all necessary action on its part; (ii) do not and will not, by the lapse of time, giving of notice or otherwise, violate the provisions of the terms of its Certificate of Incorporation or By-Laws, or of any mortgage, indenture,
security agreement, contract, undertaking or other agreement to which Borrower is a party, or which purports to be binding on Borrower or any of its properties; (iii) do not and will not, by lapse of time, the giving of notice or otherwise,
contravene any governmental restriction to which Borrower or any of its properties may be subject; and (iv) do not and will not, except as contemplated in the Loan Agreement, result in the imposition of any lien, charge, security interest or
encumbrance upon any of Borrower’s properties under any indenture, mortgage, deed of trust, loan or credit agreement or other agreement or instrument to which Borrower is a party or which purports to be binding on Borrower or any of its
properties; 
 (d) No consent, license, registration or approval of any governmental authority, bureau or agency is required in connection
with the execution, delivery, performance, validity or enforceability of this Amendment and the other agreements executed by Borrower in connection herewith; 
  

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 (e) This Amendment and the other agreements executed by Borrower in connection herewith have been duly
executed and delivered by Borrower and are enforceable against Borrower in accordance with their terms; and 
 (f) All information, reports
and other papers and data heretofore furnished to Agent by Borrower in connection with this Amendment, the Loan Agreement and Other Agreements are accurate and correct in all material respects and complete insofar as may be necessary to give Agent
true and accurate knowledge of the subject matter thereof. Borrower has disclosed to Agent every fact of which it is aware which would reasonably be expected to materially and adversely affect the business, operations or financial condition of
Borrower or the ability of Borrower to perform its obligations under this Amendment, the Loan Agreement or under any of the Other Agreements. None of the information furnished to Agent by or on behalf of Borrower contained any material misstatement
of fact or omitted to state a material fact or any fact necessary to make the statements contained herein or therein not materially misleading. 
 4. Conditions Precedent. The amendments to the Loan Agreement set forth in this Amendment shall become effective as of the date of this Amendment upon the occurrence of the following: 
 (a) execution of the Amendment by all parties hereto; and 
 (b) the receipt by Agent, for the ratable benefit of Lenders, of a fully earned, non-refundable $45,000 amendment fee. 
 5. Fees and Expenses. Borrower agrees to pay all legal fees and other expenses, whether for in-house or outside counsel, incurred by Agent in connection with this Agreement and the transactions contemplated
hereby. 
 6. Loan Agreement Remains in Force. Except as specifically amended hereby, all of the terms and conditions of the Loan
Agreement shall remain in full force and effect and this Agreement shall not be a waiver of any rights or remedies which Agent or Lenders have provided for in the Loan Agreement and all such terms and conditions are herewith ratified, adopted,
approved and accepted. 
 7. Additional Documents. Upon the request of Agent, Borrower will cause to be done, executed, acknowledged
and delivered all such further acts, conveyances and assurances as Agent from time to time may reasonably request of Borrower for accomplishing the transaction referred to herein. 
 8. No Novation. This Amendment and all other agreements executed by Borrower on the date hereof are not intended to nor shall be construed to
create a novation or accord and satisfaction, and shall only be a modification and extension of the existing Liabilities of Borrower to Lenders. 
  

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 9. Entire Agreement. This Amendment and the other documents it refers to comprise the entire
agreement relating to the subject matter they cover and supersede any and all prior written or oral agreements among Agent, Lenders and Borrower relating thereto. 
 10. Severability. Any provision of this Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision in any other jurisdiction. 
 Except as expressly provided for herein, the terms and conditions of the Loan Agreement shall remain in full force and effect. 
  

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 IN WITNESS WHEREOF, Borrower, Agent and Lenders have caused this Amendment to be duly executed by their
proper duly authorized officers oaf the day and year first set forth above. 
  

			
	 LASALLE BANK NATIONAL
 ASSOCIATION, as Agent and as a Lender

		
	 By
	 	 /s/ Steven M. Marks

	 Its
	 	 Senior Vice President

	
	 NATIONAL CITY BANK, as a Lender

		
	 By
	 	 /s/ Michael Monninger

	 Its
	 	 Vice President

	
	 US BANK, NATIONAL ASSOCIATION,
 successor by merger to Firstar Bank, N.A., as
 a Lender

		
	 By
	 	 /s/ Craig B. Collinson

	 Its
	 	Senior Vice President
	
	 COBRA ELECTRONICS CORPORATION

		
	 By
	 	 /s/ Michael Smith

	 Its
	 	 Senior Vice President

  

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