Document:

BLANK1

Exhibit 10.14

Letter of Intent To Enter Into A

Property, Management and Financing Agreement

Date: July 26, 2010

				
	1.

	Parties 

	Mine Clearing Corp.

which is a company incorporated in Nevada and having its office at:

2103 Tyrone Place, Penticton, BC

Canada, V2A 8Z2

(“MCCO”)

Telephone: +1 250 490-3378

Email: larryolson@telus.net 

	Boulder Hill Mines, Inc.

which is a company incorporated in Idaho and having its office at:

609-5 Bank Street

PO Box 1277

Wallace, ID, 83873, USA

(“Boulder”)

Telephone: +1 765 977-8795

Email: rdemotte@aol.com

	2.

	Background

	
·

MCCO is an incorporated company and its common stock is quoted on the OTCBB and OTCQB markets;

·

Boulder is an incorporated company with a management team with mining development expertise and access to mineral resource properties. Boulder has rights to properties outlined in Schedule A (the “Properties”);

·

MCCO and Boulder have been discussing the potential of a negotiating an agreement (the “Agreement”) whereby MCCO will add representatives known to Boulder to MCCO’s management team and board of directors, and arrange financing through a combination of private placements or joint venture arrangements to the benefit of MCCO;

·

This Letter of Intent represents a non-binding joint commitment to negotiate in good faith to complete and sign a final definitive Agreement on or before September 1, 2010.

	3.

	Proposal

	
·

In consideration of entering into this Letter of Intent, Boulder will transfer rights to the Properties to MCCO and arrange a $25,000 joint venture by September 1, 2010 and MCCO will arrange to transfer 1,666,667 shares of restricted unregistered common stock to persons or entities indentified by Boulder upon completion of the rights transfer and receipt of $25,000 joint venture funds;

·

The proposed Agreement shall include the following components upon closing:

-

Boulder shall agree to arrange to complete further private placements or joint venture arrangements to the benefit of MCCO up to a value of $125,000 (the “Funding”) by January 31, 2010  with placement pricing being subject to board approval;

-

MCCO shall arrange to transfer up to 8,333,333 shares of restricted unregistered common stock to persons or entities identified by Boulder, prorated to the Funding that Boulder will bring to MCCO. Share transfers will be conducted at $25,000 intervals; and

-

Other private placements or joint venture agreements arranged by other parties other than Boulder shall not contribute to prorated Funding calculations. Boulder will identify funding partners to MCCO in advance of funding and all funding parties are subject to acceptance by MCCO towards Boulder’s funding quota.

	4.

	Securities Laws 

	
·

MCCO and Boulder acknowledge that the parties to the agreement will have to comply with the laws and rules of the United States Securities and Exchange Commission and Canadian securities laws, where applicable;

	5.

	Confidentiality

	
·

The terms of the proposal, the dealings between the parties, and all proprietary and confidential information of any kind passing between the parties, must be kept strictly confidential unless disclosure is required by statute, law or the rules of an applicable securities exchange.

·

All proprietary and confidential information passing between the parties will only be used for the purpose of discussions and negotiations in respect of the proposal in Item 3.  On termination of those discussions or negotiations, each party must (on demand by the other party) return all such information received or certify its destruction.

	6.

	Costs

	
·

Each party will bear its own costs in respect of due diligence and negotiations and discussions in respect of the proposal.

	7.

	Non-binding Obligations

	
·

With the exception of the obligations in items 3, nothing in this Letter of Intent is to be read or construed as giving rise to binding contractual or other legal relations between the parties.

·

No binding contractual or other legal relations arise between the parties (other than pre-existing contractual arrangements) until execution of a definitive Agreement. 

	8.

	Governing Law

	
·

This Letter of Intent is to be interpreted in accordance with the laws of the state of Nevada.

AGREED on July 26, 2010

/s/ Larry Olson

/s/ Ray Demotte

______________________________

_________________________________

Larry Olson

Ray Demotte

President & CEO

Vice President

For and on behalf of Mine Clearing Corp.

For and on behalf of Boulder Hill Mines, Inc.

4.

Schedule A

1.

Boulder Hill Gold Property Located in the State of Montana.

2.

Sage Creek Gold Property Located in the State of Idaho.EX-10.1

EXECUTION COPY

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT

This FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of July 26, 2010
(this “Agreement”), is entered into by and among FERRO CORPORATION, an Ohio corporation
(the “Company”), the several banks and other financial institutions or entities listed on
the signature pages hereto as Lenders (collectively, the “Signing Lenders”), CREDIT SUISSE
AG, CAYMAN ISLANDS BRANCH (f/k/a Credit Suisse, Cayman Islands Branch) (“Credit Suisse”),
as Original Term Loan Administrative Agent (in such capacity, the “Original Term Loan
Administrative Agent”), PNC BANK, NATIONAL ASSOCIATION (as successor-by-merger to National City
Bank) and PNC Bank, as New Term Loan Administrative Agent (in such capacity, the “New Term Loan
Administrative Agent”) and as Revolving Loan Administrative Agent (in such capacity,
“Revolving Loan Administrative Agent”, and together with the Original Term Loan
Administrative Agent and the New Term Loan Administrative Agent, the “Administrative
Agents”). Capitalized terms used but not defined herein shall have the meanings assigned to
such terms in the Credit Agreement (as defined below).

W I T N E S S E TH:

WHEREAS, the Company, the Lenders from time to time party thereto, the Administrative Agents,
KeyBank National Association, as Documentation Agent, and Citigroup Global Markets, Inc., as
Syndication Agent have entered into the Second Amended and Restated Credit Agreement, dated as of
October 26, 2009 (as amended, restated, supplemented, waived or otherwise modified prior to the
date hereof, the “Credit Agreement”);

WHEREAS, the Company has requested that the Credit Agreement be amended as more fully set
forth herein; and

WHEREAS, the Lenders signing below, constituting at least the Required Lenders, are willing to
amend the Credit Agreement on the terms and subject to the conditions set forth herein.

NOW, THEREFORE, the parties hereto hereby agree and covenant as follows:

SECTION 1. Amendment to Credit Agreement.

(a) Section 1.1 of the Credit Agreement shall be amended by:

	 	(i)	 	in the definition of “Change of Control”, (A) deleting the “or”
appearing after clause (b) thereof, (B) deleting the “.” appearing at the end of
clause (c) thereof and replacing it with “;or” and (C) inserting the following
new clause (d) at the end thereof: “(d) for so long as any Senior Notes are
outstanding, the occurrence of a “Change of Control” (as defined in the Senior
Notes Documents).”

	 	(ii)	 	in the definition of “EBITDA”, (A) adding the following
immediately at the end of clause (b)(xvi) prior to the “,”: “and in connection
with or related to the preparation, negotiation, approval, execution, delivery
and issuance of the Senior Notes and the First Amendment” and (B) adding a new
subclause (xviii) prior to the “minus” appearing therein as follows:
“(xviii) if applicable, any swap or hedge breakage costs relating to interest
rate swaps or hedges in effect on the First Amendment Effective Date (including,
without limitation, any such costs incurred with a prepayment of the Term Loans)
to the extent any such costs do not constitute Interest Expense,”.

	 	(iii)	 	in the definition of “Fixed Charge Coverage Ratio”, deleting
the “.” at the end thereof and inserting the following additional proviso: “and
provided, further, that non-recurring fees, cash charges and other cash
expenses paid in connection with or related to the preparation, negotiation,
approval, execution and delivery of the First Amendment and the issuance of the
Senior Notes shall also be excluded from clause (b) above.”

	 	(iv)	 	amending and restating the definition of “Net Debt Proceeds”
in its entirety as follows:

“Net Debt Proceeds” means, with respect to the sale or
issuance by the Company or any of its Subsidiaries of any
Indebtedness to any other Person after the Closing Date which is not
expressly permitted by Section 7.2.2 (other than Section
7.2.2(o), it being understood that the proceeds of the
Indebtedness permitted by such section shall be Net Debt Proceeds),
the excess of (a) the gross cash proceeds actually received by such
Person from such sale or issuance, over (b) (i) all customary
arranging or underwriting discounts, fees and commissions, and all
legal, investment banking, brokerage and accounting and other
professional fees, sales commissions and disbursements and other
customary closing costs and expenses actually incurred in connection
with such sale or issuance other than any such fees, discounts,
commissions or disbursements paid to Affiliates of the Company or any
such Subsidiary in connection therewith and (ii) all prepayment
premiums and any applicable swap or hedge breakage costs relating to
interest rate swaps or hedges relating to any Indebtedness being
repaid or prepaid from the proceeds of such new Indebtedness.

	 	(v)	 	adding the following new defined terms in correct alphabetical order:

“First Amendment” means that certain First Amendment to the
Second Amended and Restated Credit Agreement dated as of May 12,
2010, by and among the Company, the Administrative Agents and the
Lenders party thereto.

“First Amendment Effective Date” means the date on which the
conditions set forth in Section 2 of the First Amendment are
satisfied or waived, which date shall be confirmed by the
Administrative Agents to the Lenders and the Company in writing upon
satisfaction of such conditions.

“Senior Notes” means the Company’s Senior Notes due no
earlier than January 1, 2013, in an aggregate principal amount not
exceeding $300,000,000.

“Senior Notes Documents” shall mean the indenture under
which the Senior Notes are issued and all other instruments,
agreements and other documents evidencing or governing the Senior
Notes or providing for any guarantee or other right in respect
thereof.

(b) Section 2.3.2 of the Credit Agreement shall be amended by adding a new clause (d) thereto
as follows:

“(d) In addition to making Swing Line Loans pursuant to the foregoing
provisions of this Section 2.3, without the requirement for a
specific request from the Borrowers pursuant to Section 2.3.2(a),
the Swing Line Lender may make Swing Line Loans to the Borrowers in
accordance with the provisions of any agreements between one or more of the
Borrowers and the Swing Line Lender relating to the Borrowers’ deposit,
sweep and other accounts with the Swing Line Lender and related arrangements
and agreements regarding the management and investment of the Borrowers’
cash assets as in effect from time to time (the “Cash Management
Agreements”) to the extent of the daily aggregate net negative balance
in the Borrowers’ accounts which are subject to the provisions of the Cash
Management Agreements. Swing Line Loans made pursuant to this Section
2.3.2(d) in accordance with the provisions of the Cash Management
Agreements shall (i) be subject to the limitations as to aggregate amount
set forth in Section 2.1.1, (ii) be subject to any limitations as to
individual amount set forth in the Cash Management Agreement, (iii) be
payable by the Borrowers, both as to principal and interest, at the times
set forth in the Cash Management Agreements (but in no event later than the
Extended Revolving Loan Commitment Termination Date), (iv) not be made at
any time after the Swing Line Lender has notice of the occurrence and during
the continuance of a Default or Event of Default, (v) if not repaid by the
Borrowers in accordance with the provisions of the Cash Management
Agreements, be subject to each Extended Revolving Loan Lender’s obligation
to purchase participating interests therein pursuant to Section
2.3.2(c), and (vi) except as provided in the foregoing subsections (i)
through (v), be subject to all of the terms and conditions of this
Section 2.3.

(c) Section 3.1.2(b) of the Credit Agreement is hereby amended by adding the following prior
to the “.” appearing at the end thereof: “provided further that, if the amount of
the prepayment to be applied to outstanding Revolving Loans is in excess of the actual amount of
the outstanding Revolving Loans at the time of such prepayment, such excess amount may be retained
by the Company and its Subsidiaries to be used for general corporate purposes to the extent not
otherwise prohibited by this Agreement”.

(d) Section 7.2.2 of the Credit Agreement shall be amended by deleting the “and” appearing
after clause (m) thereof and inserting it after clause (n) thereof and inserting a new clause (o)
thereto as follows:

“(o) unsecured Indebtedness of the Company owing under the Senior
Notes pursuant to the Senior Notes Documents and refinancing of such
Indebtedness in a principal amount not in excess of that which is
outstanding on the original date of issuance of the Senior Notes (as
such amount may be reduced following the First Amendment Effective
Date); provided, that the aggregate outstanding principal
amount of all such Indebtedness shall not exceed $300,000,000 at any
time; and provided, further that, the Net Debt
Proceeds of the Senior Notes shall be used in accordance with
Section 3.1.1(e).

(e) Section 7.2.8 of the Credit Agreement shall be amended by inserting the following
immediately after the (ii) that appears in clause (c) thereof: “in addition to any Dispositions
permitted pursuant to the foregoing clause (i) of this Section 7.2.8(c),”.

(f) Section 7.2.11 of the Credit Agreement shall be amended by (i) deleting the “or” appearing
before clause (iii) in the last paragraph thereof and replacing it with a “,”, (ii) in clause (iii)
of the last paragraph thereof, replacing the reference to “clause (f)(i) of Section
7.2.2” with “clause (j) of Section 7.2.2” and (iii) adding the following prior
to the period appearing at the end thereof: “, or (iv) in the Senior Notes Documents”.

(g) The Credit Agreement shall be amended by replacing all references therein to “Credit
Suisse, Cayman Islands Branch” with “Credit Suisse AG, Cayman Islands Branch (f/k/a Credit Suisse,
Cayman Islands Branch).

(h) The Credit Agreement shall be further amended by replacing all references therein to (i)
“National City Bank” with “PNC Bank, National Association (as successor-by-merger to National City
Bank)” and (ii) “National City” with “PNC Bank”.

SECTION 2. Conditions to Effectiveness. The effectiveness of this Agreement is
subject to the satisfaction of the following conditions (the date on which such conditions are
satisfied, the “First Amendment Effective Date”):

(a) The Administrative Agents shall have received duly executed and delivered counterparts of
this Agreement that, when taken together, bear the signatures of (i) the Company and (ii) the
Required Lenders.

(b) The Company shall have paid to the Administrative Agents all outstanding fees, costs and
expenses owing to the Administrative Agents and their respective Affiliates as of such date, except
that the Company shall pay the reasonable fees, disbursements and other charges of Latham & Watkins
LLP, counsel for the Administrative Agents within seven days following receipt of an invoice
therefor and such payment shall not constitute a condition to the occurrence of the First Amendment
Effective Date.

(c) The Administrative Agents shall have received the Affirmation and Consent, dated as of the
First Amendment Effective Date, duly authorized, executed, acknowledged and delivered by the
Company and each Subsidiary Guarantor.

(d) The Administrative Agents shall have received the First Amendment Effective Date
Certificate, substantially in the form attached to the Credit Agreement as Exhibit L, dated as of
the First Amendment Effective Date and duly executed and delivered by an Authorized Officer of the
Company, in which certificate the Company shall agree and acknowledge that the statements made
therein shall be deemed to be true and correct representations and warranties of the Company in all
material respects as of such date, and, at the time such certificate is delivered, such statements
shall in fact be true and correct in all material respects.

SECTION 3. Miscellaneous.

(a) Representations and Warranties. To induce the other parties hereto to enter into
this Agreement, the Company represents and warrants to each of the Lenders and the Administrative
Agents that, as of the First Amendment Effective Date:

(i) This Agreement has been duly authorized, executed and delivered by the
Company, and this Agreement and the Credit Agreement, constitute the Company’s legal, valid
and binding obligation, enforceable against it in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity, regardless of
whether considered in a proceeding in equity or at law;

(ii) The representations and warranties set forth in the Credit Agreement and
each other Loan Document are, in each case after giving effect to this Agreement, true and
correct in all material respects on and as of the First Amendment Effective Date, except to
the extent such representations and warranties expressly relate to an earlier date, in which
case they were true and correct in all material respects as of such earlier date; and

(iii) No Default has occurred and is continuing.

(b) Cross-References. References in this Agreement to any Article or Section are,
unless otherwise specified, to such Article or Section of this Agreement.

(c) Loan Document Pursuant to Credit Agreement. This Agreement is a Loan Document
executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated therein)
be construed, administered and applied in accordance with all of the terms and provisions of the
Credit Agreement, as amended hereby, including Article X thereof.

(d) Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.

(e) Counterparts. This Agreement may be executed by the parties hereto in several
counterparts, each of which when executed and delivered shall be an original and all of which shall
constitute together but one and the same agreement. Delivery of an executed counterpart of a
signature page to this Agreement by facsimile (or pdf or other electronic transmission) shall be
effective as delivery of a manually executed counterpart of this Agreement.

(f) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

(g) Full Force and Effect; Limited Amendment.

(i) Except as expressly set forth herein, this Agreement shall not by
implication or otherwise limit, impair, constitute a waiver of or otherwise affect the
rights and remedies of the Lenders, the Administrative Agents or the Collateral Agent under
the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in
any way affect any of the terms, conditions, obligations, covenants or agreements contained
in the Credit Agreement or any other provision of the Credit Agreement or of any other Loan
Document, all of which are ratified and affirmed in all respects and shall continue in full
force and effect. Nothing herein shall be deemed to entitle the Company to a consent to, or
a waiver, amendment, modification or other change of, any of the terms, conditions,
obligations, covenants or agreements contained in the Credit Agreement or any other Loan
Document in similar or different circumstances.

(ii) The parties hereto acknowledge and agree that (i) this Agreement and any
other Loan Documents executed and delivered in connection herewith do not constitute a
novation, or termination of the “Obligations” (as defined in the Loan Documents) under the
Credit Agreement as in effect prior to the First Amendment Effective Date; (ii) such
“Obligations” are in all respects continuing (as amended hereby) with only the terms thereof
being modified to the extent provided in this Agreement; and (iii) the Liens and security
interests as granted under the Loan Documents securing payment of such “Obligations” are in
all such respects continuing in full force and effect and secure the payments of the
“Obligations”.

(h) Headings. The headings of this Agreement are for purposes of reference only and
shall not limit or otherwise affect the meaning hereof.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be duly executed by their respective officers as of the day and year
first above written.

FERRO CORPORATION

	 	 	 
	By: /s/ John T. Bingle

	 

	Name: John T. Bingle

	Title:

	 	Treasurer

	 	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
(f/k/a CREDIT SUISSE, CAYMAN ISLANDS BRANCH), as
Original Term Loan Administrative Agent

By: /s/ Bill O’Daly

Name: Bill O’Daly

Title: Director

By: /s/ Ilya Ivashkov

Name: Ilya Ivashkov

Title: Associate

PNC BANK, NATIONAL ASSOCIATION (as

successor-by-merger to National City Bank), as
Collateral Agent, Issuer and Swing Line Lender

By: /s/ Scott D. Beran

Name: Scott D. Beran

Title: Vice President

1

PNC BANK, NATIONAL ASSOCIATION, as New Term

Loan Administrative Agent and as Revolving Loan
Administrative Agent

By: /s/ Christian S.
Brown

	 	 	Name: Christian S. Brown

Title: Senior Vice President

2

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