Document:

Exhibit

		
	Exhibit 10.49
	    Schedule III

to Supplement No. 7
to the Guarantee and
Collateral Agreement

SUPPLEMENT NO. 7 dated as of September 2, 2015 (this “Supplement”), to the Guarantee and Collateral Agreement dated as of June 23, 2006, as amended and restated as of December 6, 2010, February 14, 2011, and February 28, 2013 (as further amended, restated, supplemented or otherwise modified from time to time, the “Guarantee and Collateral Agreement”), among TRANSDIGM INC., a Delaware corporation (the “Borrower”), TRANSDIGM GROUP INCORPORATED, a Delaware corporation (“Holdings”), each subsidiary of the Borrower listed on Schedule I thereto (each such subsidiary individually a “Subsidiary Guarantor” and collectively, the “Subsidiary Guarantors”; the Subsidiary Guarantors, Holdings and the Borrower are referred to collectively herein as the “Grantors”) and CREDIT SUISSE AG, as collateral agent for the Secured Parties and as administrative agent (in such capacities, the “Agent”).
A.    Reference is made to the Second Amended and Restated Credit Agreement dated as of June 4, 2014 (as further amended, supplemented, or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Holdings, each subsidiary of the Borrower from time to time party thereto, the lenders from time to time party thereto (the “Lenders”) and the Agent.
B.    Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement or the Guarantee and Collateral Agreement, as the context may require.
C.    The Grantors have entered into the Guarantee and Collateral Agreement in order to induce the Lenders to make Loans and the Issuing Banks to issue Letters of Credit.  Section 7.16 of the Guarantee and Collateral Agreement provides that additional Domestic Subsidiaries of the Loan Parties may become Subsidiary Guarantors and Grantors under the Guarantee and Collateral Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New Subsidiary”) is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Subsidiary Guarantor and a Grantor under the Guarantee and Collateral Agreement in order to induce the Lenders to make additional Loans and the Issuing Banks to issue additional Letters of Credit, and as consideration for Loans previously made and Letters of Credit previously issued.
Accordingly, the Agent and the New Subsidiary agree as follows:
SECTION 1.  In accordance with Section 7.16 of the Guarantee and Collateral Agreement, the New Subsidiary by its signature below becomes a Grantor and Subsidiary Guarantor under the Guarantee and Collateral Agreement with the same force and effect as if originally named therein as a Grantor and Subsidiary Guarantor, and the New Subsidiary hereby (a) agrees to all the terms and provisions of the Guarantee and Collateral Agreement applicable to it as a Grantor and Subsidiary Guarantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor and Subsidiary Guarantor thereunder are true and correct in all material respects on and as of the date hereof (except for any representation or warranty that is limited by its terms to an earlier specified date). In furtherance of the foregoing, the New Subsidiary, as security for the payment and performance in full of the 

Secured Obligations (as defined in the Guarantee and Collateral Agreement), does hereby create and grant to the Agent, its successors and assigns, for the ratable benefit of the Secured Parties, their successors and assigns, a security interest in and lien on all of the New Subsidiary’s right, title and interest in and to the Collateral (as defined in the Guarantee and Collateral Agreement) of the New Subsidiary. Each reference to a “Grantor” or a “Subsidiary Guarantor” in the Guarantee and Collateral Agreement shall be deemed to include the New Subsidiary.  The Guarantee and Collateral Agreement is hereby incorporated herein by reference.
SECTION 2.  The New Subsidiary represents and warrants to the Agent and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms subject to applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally and to general principles of equity.
SECTION 3.  This Supplement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Agent shall have received counterparts of this Supplement that, when taken together, bear the signatures of the New Subsidiary and the Agent. Delivery of an executed signature page to this Supplement by facsimile or other electronic transmission shall be as effective as delivery of a manually signed counterpart of this Supplement.
SECTION 4.  The New Subsidiary hereby represents and warrants that (a) set forth on Schedule I attached hereto is a true and correct schedule of all leased and owned real property of the New Subsidiary and each other location where any Collateral of the New Subsidiary is stored or otherwise located with a value in excess of $300,000 for each such location, set forth on Schedule II is a true and correct schedule of the Pledged Collateral of the New Subsidiary and set forth on Schedule III is a true and correct schedule of the Intellectual Property of the New Subsidiary, and (b) set forth under its signature hereto, is the true and correct legal name of the New Subsidiary, its jurisdiction of formation and the location of its chief executive office.
SECTION 5.  Except as expressly supplemented hereby, the Guarantee and Collateral Agreement shall remain in full force and effect.
SECTION 6.  THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
SECTION 7.  In case any one or more of the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Guarantee and Collateral Agreement shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid 

provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.  
SECTION 8.  All communications and notices hereunder shall be in writing and given as provided in Section 7.01 of the Guarantee and Collateral Agreement.  All communications and notices hereunder to the New Subsidiary shall be given to it at the address set forth under its signature below.
SECTION 9. The New Subsidiary agrees to reimburse the Agent for its reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Agent.

[Signature pages to follow]

IN WITNESS WHEREOF, the New Subsidiary and the Agent have duly executed this Supplement to the Guarantee and Collateral Agreement as of the day and year first above written.

	
		
	PNEUDRAULICS, INC.

	 

	by
	/s/ Sean P. Maroney

	 
	Name:  Sean P. Maroney

	 
	Title:    Treasurer

	 
	Address: 8575 Helms Ave.
Rancho Cucamonga, CA

	 
	 Legal Name: PNEUDRAULICS, INC.

	 
	 Jurisdiction of Formation: California

	 
	Location of Chief Executive Office: 
8575 Helms Avenue.
Rancho Cucamonga, CA

	
		
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Agent

	 

	by
	/s/s Doreen Barr

	 
	Name: Doreen Barr

	 
	Title: Authorized Signatory

	 
	 

	by
	/s/ Warren Van Heyst

	 
	Name: Warren Van Heyst

	 
	Title: Authorized Signatoryexhibit1051firstamendmen

Exhibit 10.51   EXECUTION COPY   FIRST AMENDMENT TO THE   RECEIVABLES PURCHASE AGREEMENT   This FIRST AMENDMENT TO THE RECEIVABLES PURCHASE AGREEMENT   (this "Amendment"), dated as of March 25, 2014, is entered into by and among the following   parties:   (i) TRANSDIGM RECEIVABLES LLC, a Delaware limited liability company, as   Seller;   (ii) TRANSDIGM, INC., a Delaware corporation, as Servicer; and   (iii) PNC BANK, NATIONAL ASSOCIATION, as a Committed Purchaser, as   Purchaser Agent for its Purchaser Group and as Administrator ("PNC").   Capitalized terms used but not otherwise defined herein (including such terms used   above) have the respective meanings assigned thereto in the Receivables Purchase Agreement   described below.   BACKGROUND   A. The parties hereto have entered into a Receivables Purchase Agreement, dated as   of October 21, 2013 (as amended, restated, supplemented or otherwise modified through the date   hereof, the "Receivables Purchase Agreement") and desire to amend the Receivables Purchase   Agreement as set forth herein.   B. Concurrently herewith, Airborne Systems North America of CA Inc. and   Airborne Systems North America of NJ Inc. (together, the "New Originators") and the parties   hereto are entering into that certain Joinder Agreement (the "Joinder Agreement"), pursuant to   which the New Originators are becoming parties to the First Tier Purchase and Sale Agreement.   NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of   which are hereby acknowledged, the parties hereto hereby agree as follows:   SECTION 1. Amendments to the Receivables Purchase Agreement. The Receivables   Purchase Agreement is hereby amended as follows:   (a) Section 1.2(a) of the Receivables Purchase Agreement is hereby amended by   replacing "two Business Days" with "thirty-five (35) days" where it appears therein.   (b) Section 1.2(b) of the Receivables Purchase Agreement is hereby amended by   deleting the final two paragraphs thereof.   (c) Clause (a) of the definition of "Defaulted Receivable" in Exhibit I to the   Receivables Purchase Agreement is hereby amended by replacing the table set forth therein with   the following:   708664839 13429494     

 

Threshold Number of   Originator of Such Receivable Days Past-Due   Any Originator other than (i) Dukes Aerospace. Inc., 120-days   (ii) Schneller LLC, (iii) Avionic Instruments LLC,   (iv) Western Sky Industries, LLC, and (v) Skurka   Aerospace Inc.   Avionic Instruments LLC, Western Sky Industries, LLC, 90-days or, if separately agreed in   or Skurka Aerospace Inc. writing by the Seller and the   Administrator with respect to any   such Originator, 120-days   Airborne Systems North America ofCA Inc., Airborne 60-days or, if separately agreed in   Systems North America ofNJ Inc., Dukes Aerospace, writing by the Seller and the   Inc. or Schneller LLC Administrator with respect to any   such Originator, 90- or 120-days, as   the case may be   (d) The definitions of "Deferred Funding Date", "Deferred Funding Notice" and   "Deferring Purchaser" are hereby deleted in their entirety from Exhibit I to the Receivables   Purchase Agreement.   (e) Clause (b) of the definition of "Eligible Receivable" in Exhibit I to the   Receivables Purchase Agreement is hereby amended and restated in its entirety to read as   follows:   (b) that is denominated and payable in U.S. dollars, and (except as otherwise   expressly permitted pursuant to Sections I (f) and 2.ffi of Exhibit IV) the Obligor   with respect to which has been instructed to remit Collections in respect thereof to   a Lock-Box Account in the United States;   (f) Section I (f) of Exhibit IV to the Receivables Purchase Agreement ts hereby   amended by adding the following at the end of the first sentence thereof:   ; provided, however, that Airborne Systems North America of CA Inc., Airborne   Systems North America of NJ Inc. and the Servicer shall not be required to   instruct Obligors to deliver Collections on Receivables originated by Airborne   Systems North America of CA Inc. or by Airborne Systems North America ofNJ   Inc., in either case, until the earlier of (i) July [_], 2014 and (ii) the occurrence of   a Termination Event, and that the failure to do so by Airborne Systems North   America of CA Inc., Airborne Systems North America of NJ Inc. or the Servicer   prior to the date determined pursuant to clauses (i) and .ilil above shall not   constitute a Termination Event for any reason related thereto.   2   708664839 13429494     

 

(g) Section 2(t) of Exhibit IV to the Receivables Purchase Agreement IS hereby   amended by adding the following at the end of the first sentence thereof:   ; provided, however, that Airborne Systems North America of CA Inc., Airborne   Systems North America of NJ Inc. and the Servicer shall not be required to   instruct Obligors to deliver Collections on Receivables originated by Airborne   Systems North America of CA Inc. or by Airborne Systems North America of NJ   Inc., in either case, until the earlier of (i) July 23, 2014 and (ii) the occurrence of a   Termination Event, and that the failure to do so by Airborne Systems North   America of CA Inc., Airborne Systems North America of NJ Inc. or the Servicer   prior to the date determined pursuant to clauses (i) and .(ill above shall not   constitute a Termination Event for any reason related thereto.   SECTION 2. Representations and Warranties of the Seller and Servicer. Each of the   Seller and the Servicer hereby represents and warrants, as to itself, to the Administrator, each   Purchaser and each Purchaser Agent, as follows:   (a) Representations and Warranties. Immediately after giving effect to this   Amendment, the representations and warranties made by such Person in the Transaction   Documents to which it is a party are true and correct as of the date hereof (unless stated to relate   solely to an earlier date, in which case such representations or warranties were true and correct as   of such earlier date).   (b) Enforceability. This Amendment and each other Transaction Document to which   it is a party, as amended hereby, constitute the legal, valid and binding obligation of such Person   enforceable against such Person in accordance with its respective terms, except as such   enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws   affecting the enforcement of creditors' rights generally and by general principles of equity,   regardless of whether enforceability is considered in a proceeding in equity or at law.   (c) No Termination Event. No event has occurred and is continuing, or would result   from the transactions contemplated hereby, that constitutes a Purchase and Sale Termination   Event, an Unmatured Purchase and Sale Termination Event, a Termination Event or an   Unmatured Termination Event.   SECTION 3. Effect of Amendment. All provisions of the Receivables Purchase   Agreement and the other Transaction Documents, as expressly amended and modified by this   Amendment, shall remain in full force and effect. After this Amendment becomes effective, all   references in the Receivables Purchase Agreement (or in any other Transaction Document) to   "this Receivables Purchase Agreement", "this Agreement", "hereof', "herein" or words of   similar effect referring to the Receivables Purchase Agreement shall be deemed to be references   to the Receivables Purchase Agreement as amended by this Amendment. This Amendment shall   not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of   the Receivables Purchase Agreement other than as set forth herein.   SECTION 4. Effectiveness. This Amendment shall become effective as of the date   hereof upon the satisfaction ofthe following conditions precedent:   3   708664839 13429494     

 

(a) Execution of Amendment. The Administrator shall have received counterparts   duly executed by each of the parties hereto.   (b) Execution of Joinder Agreement. The Administrator shall have received   counterparts of the Joinder Agreement duly executed by each of the parties thereto.   (c) Execution of Joinder to Letter Agreement. The Administrator shall have received   counterparts ofthe Joinder to Letter Agreement duly executed by each of the parties thereto.   SECTION 5. Counterparts. This Amendment may be executed in any number of   counterparts and by different parties on separate counterparts, each of which when so executed   shall be deemed to be an original and all of which when taken together shall constitute but one   and the same instrument. Delivery of an executed counterpart of a signature page to this   Amendment by facsimile or e-mail transmission shall be effective as delivery of a manually   executed counterpart hereof.   SECTION 6. GOVERNING LAW. THIS AMENDMENT SHALL BE DEEMED TO   BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE   STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-   1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).   SECTION 7. Section Headings. The various headings of this Amendment are included   for convenience only and shall not affect the meaning or interpretation of this Amendment, the   Receivables Purchase Agreement or any provision hereof or thereof.   4   708664839 13429494     

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their   duly authorized officers as of the date first above written.   708664839 13429494   TRANSDIGM RECEN ABLES LLC,   as Seller   TRANSDIGM, INC.,   as Initial Servicer   By: ___ _,~.;c;..#-=-~""~.,..,.--------   Name: G~crfT/l.,.4~   Title: 0 . . -n .   [vP, e{"o ( J'~~~   S-1 First Amendment to the   Receivables Purchase Agreement   (TransDigm Receivables LLC)     

 

7086{)11839 1}129494   PNC BANK, NATIONAL ASSOCIATION,   as a Committed Purchaser, as a Purchaser Agent   and as Administrator   By:   (f!A./~   Name: Mark Falcione   Title: Executive Vice President   S-2 First Amendment to the   Receivables Purchase Agreement   (li·ansDigm Receivables LLC)

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