Document:

Exhibit

Exhibit 10.1

FIRST AMENDMENT TO CREDIT AGREEMENT
THIS FIRST AMENDMENT TO CREDIT AGREEMENT dated as of July 11, 2016 (this “Amendment”) is entered into among SPX FLOW, Inc., a Delaware corporation (the “Parent Borrower”), the Foreign Subsidiary Borrowers, the Subsidiary Guarantors, the Lenders party hereto, Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent, and Bank of America, N.A., as Administrative Agent.  All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below), as amended by this Amendment.
RECITALS
WHEREAS, the Parent Borrower, the Foreign Subsidiary Borrowers party thereto, the Lenders party thereto, Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent, and Bank of America, N.A., as Administrative Agent, entered into that certain Credit Agreement dated as of September 1, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and
WHEREAS, the parties hereto agree to amend the Credit Agreement as set forth below.
NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Amendments.  The Credit Agreement is hereby amended as follows:
(a)In Section 1.1 of the Credit Agreement,
(i)the table included in the definition of “Applicable Rate” is amended and restated in its entirety to read as follows:
	
									
	Pricing Tier
	Consolidated
Leverage Ratio
	Domestic Revolving
Commitment Fee
	Global Revolving
Commitment Fee
	Financial Letter of Credit Fee
	Participation FCI Commitment Fee and Bilateral FCI Commitment Fee
	Participation FCI Fee, Bilateral FCI Fee and Non-Financial Letter of Credit Fee
	Eurocurrency Loans
	ABR Loans

	1
	< 1.0 to 1.0
	0.225%
	0.225%
	1.250%
	0.225%
	0.750%
	1.250%
	0.250%

	2
	> 1.0 to 1.0 but
< 1.5 to 1.0
	0.250%
	0.250%
	1.375%
	0.250%
	0.800%
	1.375%
	0.375%

	3
	> 1.5 to 1.0 but
< 2.0 to 1.0
	0.275%
	0.275%
	1.500%
	0.275%
	0.875%
	1.500%
	0.500%

	4
	> 2.0 to 1.0 but
< 3.0 to 1.0
	0.300%
	0.300%
	1.750%
	0.300%
	1.000%
	1.750%
	0.750%

	5
	> 3.0 to 1.0 but
< 3.5 to 1.0
	0.350%
	0.350%
	2.000%
	0.350%
	1.250%
	2.000%
	1.000%

	6
	> 3.5 to 1.0
	0.400%
	0.400%
	2.250%
	0.400%
	1.375%
	2.250%
	1.250%

(ii)the second to last sentence in the definition of “Applicable Rate” is amended and restated in its entirety to read as follows:
The Applicable Rate in effect from the First Amendment Effective Date through the first Business Day immediately following the date a Compliance Certificate is required to be delivered pursuant to Section 5.1(c) for the fiscal quarter ending September 30, 2016 shall be determined based upon Pricing Tier 5.  
(iii)the definition of “Bilateral FCI” is amended and restated in its entirety to read as follows:
“Bilateral FCI”:  a Warranty Guarantee, a Performance Guarantee, an Advance Payment Guarantee, a Tender Guarantee, a General Purpose Guarantee, a Counter-Guarantee or a Trade LC, in each case issued by a 

Bilateral FCI Issuing Lender pursuant to the terms hereof or an Existing FCI designated as a Bilateral FCI on Schedule 1.1 D.
(iv)the definition of “Collateral” is amended and restated in its entirety to read as follows:
“Collateral”: all property of the Loan Parties, now owned or hereafter acquired, upon which a Lien is purported to be created by any Security Document; provided, however, that the Collateral shall not include any Excluded Property.
(v)the definition of “Defaulting Lender” is amended by (A) deleting the “or” at the end of clause (d)(ii) thereof, (B) deleting the “;” at the end of clause (d)(iii) thereof, and (C) adding the following at the end of clause (d)(iii) thereof:
“or (iv) become the subject of a Bail-In Action;”
(vi)the definition of “Facility” is amended and restated in its entirety to read as follows:
“Facility”:  each of (a) the Domestic Revolving Commitments and the Domestic Revolving Loans made hereunder (the “Domestic Revolving Facility”), (b) the Global Revolving Commitments and the Global Revolving Loans made hereunder (the “Global Revolving Facility”), (c) the Participation FCI Issuing Commitments, the Participation FCI Commitments, the Participation FCIs issued hereunder and the Existing FCIs designated as Participation FCIs on Schedule 1.1D and governed hereby (the “Foreign Trade Facility”), (d) the Bilateral FCI Issuing Commitments, the Bilateral FCIs issued hereunder and the Existing FCIs designated as Bilateral FCIs on Schedule 1.1D and governed hereby (the “Bilateral Foreign Trade Facility”), (e) the Term Loan A made hereunder and (f) the Incremental Term Loans (the “Incremental Term Loan Facility”).
(vii)the definition of “Federal Funds Effective Rate” is amended in its entirety to read as follows:
“Federal Funds Effective Rate”:  for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Effective Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Effective Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as reasonably determined by the Administrative Agent.
(viii)the definition of “Foreign Subsidiary Borrower” is amended and restated in its entirety to read as follows:
“Foreign Subsidiary Borrower”:  (a) with respect to the Global Revolving Facility, any Foreign Subsidiary of the Parent Borrower designated as a Foreign Subsidiary Borrower by the Parent Borrower pursuant to Section 2.23(a) that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section, (b) with respect to the Foreign Trade Facility, any Foreign Subsidiary of the Parent Borrower designated as a Foreign Subsidiary Borrower by the Parent Borrower pursuant to Section 2.23(b) that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section, and (c) with respect to the Bilateral Foreign Trade Facility, any Foreign Subsidiary of the Parent Borrower designated as a Foreign Subsidiary Borrower by the Parent Borrower pursuant to Section 2.23(b) that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.  Schedule 2.23 sets forth a list of the Foreign Subsidiary Borrowers under the Global Revolving Facility, the Foreign Trade Facility and/or the Bilateral Foreign Trade Facility as of the Effective Date.
(ix)the definition of “Foreign Subsidiary Opinion” is amended and restated in its entirety to read as follows:
“Foreign Subsidiary Opinion”:  with respect to any Foreign Subsidiary Borrower, a legal opinion of counsel to such Foreign Subsidiary Borrower addressed to the Administrative Agent (and, with respect to any Foreign Subsidiary Borrower under the Foreign Trade Facility or the Bilateral Foreign Trade Facility, the Foreign Trade Facility Agent) and the Lenders in form and substance reasonably satisfactory to the Administrative Agent (and, with respect to any Foreign Subsidiary Borrower under the Foreign Trade Facility or the Bilateral Foreign Trade Facility, the Foreign Trade Facility Agent).

(x)the definition of “Participation FCI” is amended and restated in its entirety to read as follows:
“Participation FCI”:  a Warranty Guarantee, a Performance Guarantee, an Advance Payment Guarantee, a Tender Guarantee, a General Purpose Guarantee or a Counter-Guarantee, in each case issued by a Participation FCI Issuing Lender pursuant to the terms hereof or an Existing FCI designated as a Participation FCI on Schedule 1.1D.
(xi)clause (e) of the definition of “Permitted Acquisition” is amended and restated in its entirety to read as follows:
(e) to the extent that Collateral is required to be pledged pursuant to this Agreement, substantially all of the property other than Capital Stock so acquired (including substantially all of the property of any Person whose Capital Stock is directly or indirectly acquired when such Person becomes a direct or indirect Wholly Owned Subsidiary of the Parent Borrower in accordance with clause (f), below, but excluding any assets to the extent such assets are not required by Section 5.11 to become Collateral) shall constitute and become Collateral,
(xii)the reference to “president,” in the definition of “Responsible Officer” is replaced with “president, vice president,”.
(xiii)the definition of “Security Documents” is amended and restated in its entirety to read as follows:
“Security Documents”:  the Guarantee and Collateral Agreement, each Acknowledgement and Consent, each Assumption Agreement, the Security Agreement, each Mortgage, any Mortgaged Property Support Documents, each Joinder Agreement, and any other security documents granting a Lien on any property of any Person to secure the obligations of any Loan Party under any Loan Document.
(xiv)the definition of “Specified Cash Management Agreement” is amended and restated in its entirety to read as follows:
“Specified Cash Management Agreement”: (a) any agreement providing for treasury, depositary or cash management services, including deposit accounts, overnight draft, credit cards, debit cards, p-cards (including purchasing cards and commercial cards), funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance services and other cash management services, or any similar transactions, between the Parent Borrower or any Subsidiary Guarantor and any Lender or Affiliate thereof, existing on the Effective Date and (b) any agreement providing for treasury, depositary or cash management services, including deposit accounts, overnight draft, credit cards, debit cards, p-cards (including purchasing cards and commercial cards), funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance services and other cash management services, or any similar transactions, between the Parent Borrower or any Subsidiary Guarantor and any Lender or Affiliate thereof, in each case which has been designated by the Parent Borrower, by notice to the Administrative Agent not later than 90 days after the execution and delivery of such agreement by the Parent Borrower or such Subsidiary Guarantor, as a “Specified Cash Management Agreement”.
(xv)the following new definitions are added in the appropriate alphabetical order to read as follows:
“Bail-In Action”: the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.
“Bail-In Legislation”: with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.
“EEA Financial Institution”: (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

“EEA Member Country”: any of the member states of the European Union, Iceland, Liechtenstein, and Norway.
“EEA Resolution Authority”: any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.
“EU Bail-In Legislation Schedule”: the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.
“Excluded Property”: with respect to the Parent Borrower or any Subsidiary Guarantor, (a) (i) any fee owned real property with a fair market value equal to or less than $10,000,000, and (ii) any leased real property, (b) Capital Stock not required to be pledged pursuant to Section 5.11(a), (c) any personal property (including (x) Intellectual Property which is not registered or applied for registration, and (y) titled vehicles) in respect of which perfection of a Lien is not governed by the UCC or, in respect of registered Intellectual Property (or Intellectual Property which is applied for registration), a filing in the United States Patent and Trademark Office (if required) or the United States Copyright Office, (d) any Intellectual Property if the grant, or perfection, of a security interest therein shall constitute or result in (i) the abandonment, invalidation or rendering unenforceable of any right, title or interest of the Parent Borrower or such Subsidiary Guarantor therein, (ii) the breach or termination pursuant to the terms of, or a default under, any contract or agreement related to such Intellectual Property or (iii) the violation of any applicable law (including for the avoidance of doubt, any “intent-to-use” application for registration of a Trademark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the filing of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such intent-to-use application under applicable federal law), (e) assets for which the pledge thereof or grant, or perfection, of a Lien thereon would result in a default, breach or other violation or right of termination under then existing Contractual Obligations or laws, regulations or orders of any Governmental Authority, (f) any general intangible if the grant, or perfection, of a security interest therein (i) shall violate any applicable law or be prohibited by any contract, agreement, instrument or indenture governing such general intangible, (ii) would give any other party to such contract, agreement, instrument or indenture the right to terminate its obligations thereunder or (iii) is permitted only with the consent of another party to such contract, if such consent has not been obtained; provided, that, in any such case the prohibition is not rendered ineffective by the UCC (including the provisions of Section 9-407 and 9-408) or other applicable laws, (g) any lease, license, contract, property rights or agreement to which the Parent Borrower or such Subsidiary Guarantor is a party or any of its rights or interests thereunder if the grant, or perfection, of a security interest therein (i) shall violate any applicable law or be prohibited by any contract, agreement, instrument or indenture governing such lease, license, contract, property rights or agreement, (ii) would give any other party to such contract, agreement, instrument or indenture the right to terminate its obligations thereunder, (iii) is permitted only with the consent of another party to such contract, if such consent has not been obtained, (iv) shall constitute or result in the abandonment, invalidation or unenforceability of any right, title or interest of the Parent Borrower or such Subsidiary Guarantor therein or (v) shall constitute or result in a breach or termination pursuant to the terms of, or a default under, any such lease, license, contract, property rights or agreement; provided in any such case the prohibition is not rendered ineffective by the UCC (including the provisions of Section 9-407 and 9-408) or other applicable laws, (h) any Exempt Deposit Accounts, (i) the assets transferred to a Receivables Entity and assets of such Receivables Entity, (j) the Receivables and related assets (of the type specified in the definition of “Qualified Receivables Transaction”) transferred, or in respect of which security interests are granted, pursuant to a Qualified Receivables Transaction, (k) if the documentation relating to the Receivables sale, factoring or securitization to which such Receivables Entity is a party expressly prohibits such a Lien, the Capital Stock or debt (whether or not represented by promissory notes) of or issued by a Receivables Entity to the Parent Borrower or any of its Restricted Subsidiaries, in each case in connection with a Qualified Receivables Transaction permitted by Section 6.6(c), (l) those other assets that are, in the reasonable judgment of the Administrative Agent, customarily excluded from security documents, (m) any property or assets to the extent the creation or perfection of pledges thereof or security interests therein could reasonably be expected to result in material adverse tax consequences to the Parent Borrower or any of its Subsidiaries, as reasonably determined by the Parent Borrower, and (n) any assets located outside the United States to the extent that the creation or perfection of pledges thereof or security interests therein require action under the law of any non-U.S. jurisdiction, including any Intellectual Property registered in any non-U.S. jurisdiction.

“First Amendment Effective Date”: July 11, 2016.
“Flood Hazard Property”: any Mortgaged Property that is in an area designated by the Federal Emergency Management Agency as having special flood or mudslide hazards.
“Intellectual Property”:  all trademarks, trademark applications, service marks, trade names, copyrights, copyright applications, patents, patent applications and other intellectual property rights.
“Joinder Agreement”:  a joinder agreement entered into by an additional grantor pursuant to Section 5.11 and accepted by the Administrative Agent, in substantially the form of Exhibit 21 to the Security Agreement.
“Liquidity Amount”: as of any date of determination, the sum of (a) the unused amount of the Domestic Revolving Commitment actually available to be borrowed as of such date of determination, plus (b) the unused amount of the Global Revolving Commitment actually available to be borrowed as of such date of determination, plus (c) unrestricted and unencumbered (other than by Liens (x) in favor of the Administrative Agent or (y) banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depositary institution) cash and cash equivalents of the Parent Borrower and its Subsidiaries (with respect to Foreign Subsidiaries, after giving effect to any reduction for repatriation or other taxes or fees associated with the repatriation of such cash into the United States); provided that, with respect to the immediately foregoing clauses (a) and (b), if any Domestic Revolving Commitment or Global Revolving Commitment is unavailable for any reason other than failure of the Loan Parties to satisfy a condition precedent to borrowing set forth in Section 4.3, then such unavailable Domestic Revolving Commitment or Global Revolving Commitment shall be included in the determination of the Liquidity Amount.
“Mortgage” or “Mortgages”: individually and collectively, each of the fee mortgages, deeds of trust and deeds to secure debt executed by the Parent Borrower or any Subsidiary Guarantor that purport to grant a Lien to the Administrative Agent (or a trustee for the benefit of the Administrative Agent) for the benefit of the holders of the Obligations in any Mortgaged Properties, in form and substance reasonably satisfactory to the Administrative Agent.
“Mortgaged Property”:  any owned real property of the Parent Borrower or any Subsidiary Guarantor listed on Schedule 3.16(c) and designated as a “Mortgaged Property” thereon, and any other owned real property of the Parent Borrower or any Subsidiary Guarantor that is or is required to become encumbered by a Mortgage in favor of the Administrative Agent in accordance with the terms of this Agreement.
“Mortgaged Property Support Documents” with respect to any real property subject to a Mortgage, (a) a fully executed and notarized Mortgage encumbering the fee interest of the Parent Borrower or any Subsidiary Guarantor in such real property, (b) title reports from a nationally recognized title insurance company acceptable to the Administrative Agent with respect to such real property, in form and substance reasonably satisfactory to the Administrative Agent, and (c) evidence (which, for the avoidance of doubt, will include “life of loan” flood determinations) as to (i) whether such real property is a Flood Hazard Property and (ii) if such real property is a Flood Hazard Property, (A) whether the community in which such real property is located is participating in the National Flood Insurance Program, (B) the applicable Loan Party’s written acknowledgment of receipt of written notification from the Administrative Agent (1) as to the fact that such real property is a Flood Hazard Property and (2) as to whether the community in which each such Flood Hazard Property is located is participating in the National Flood Insurance Program and (C) copies of insurance policies or certificates of insurance of the Loan Parties and their respective Subsidiaries evidencing flood insurance satisfactory to the Administrative Agent and naming the Administrative Agent and its successors and/or assigns as sole loss payee for the benefit of the holders of the Obligations.  For purposes of clarity, neither the Parent Borrower nor any Subsidiary Guarantor shall be required to provide any of the following with respect to any real property subject to a Mortgage: (A) maps or plats of an as-built survey, (B) ALTA mortgagee title insurance policies, (C) environmental questionnaires, environmental site assessments or other environmental due diligence deliverables, (D) legal opinions with respect to such Mortgages (other than customary corporate legal opinions as to the power and authority to execute, deliver and perform such Mortgages and the due execution and delivery of such Mortgages), (E) zoning letters, or (F) appraisals.
“Security Agreement”:  that certain security agreement, dated as of the First Amendment Effective Date, executed and delivered by each of the Parent Borrower and the Subsidiary Guarantors in favor of the 

Administrative Agent, as may be amended, restated, amended and restated, supplemented or otherwise modified from time to time.
“Write-Down and Conversion Powers”: with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.
(xvi)the following definition is deleted: “Ratings Event”.
(b)A new proviso and an additional sentence are added at the end of the first sentence of Section 2.1(b) of the Credit Agreement to read as follows:
; provided, further, that, if at any time the Parent Borrower incurs any Incremental Term Loans and/or increases the Commitments in respect of any of the Facilities, in each case, in reliance on clause (x) of the immediately foregoing proviso, then, in any such case, the Parent Borrower shall be permitted to reclassify, upon notice to the Administrative Agent, such Incremental Term Loans or such increased Commitments as having been incurred in reliance on clause (y) of the immediately foregoing proviso at any time thereafter so long as, at such date of determination, the Parent Borrower would be in compliance on a pro forma basis with the required maximum Consolidated Senior Secured Leverage Ratio (or, following the Release Date, the Consolidated Leverage Ratio) as of such date (and, upon such reclassification, the amount of such Incremental Term Loans and/or such increased Commitments shall not be counted as usage of the basket set forth in clause (x) of the immediately foregoing proviso for any future incurrence of Incremental Term Loans and/or increases in Commitments in respect of any of the Facilities).  To the extent that any Mortgaged Property exists at such time or shall be required to be established in connection with such incurrence of any Incremental Term Loans and/or increases in the Commitments in respect of any of the Facilities, the receipt by the Administrative Agent of completed “life of loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance duly executed by each Loan Party relating thereto) shall be a condition precedent to the effectiveness of any such Incremental Term Loans and/or any such increase of the Commitments in respect of any of the Facilities.  
(c)A new paragraph is added at the end of the first paragraph of Section 2.1(b) of the Credit Agreement to read as follows:
Notwithstanding anything to the contrary in this Agreement, this Agreement may be amended to incorporate additional terms (including customary “MFN” protections, soft call protection, and excess cash flow mandatory prepayments, in each case, that may be applicable with respect to any proposed Incremental Term Loans (provided that to the extent an excess cash flow mandatory prepayment is required in connection with the establishment of any Incremental Term Loans, such excess cash flow mandatory prepayment shall be applied ratably to all Term Loans and to the principal repayment installments thereof on a pro rata basis)) or conditions (including any additional conditions to the release of Collateral set forth in Section 9.13(a)) to the extent such terms or conditions are required by the Lenders providing any Incremental Term Loans, with any such amendment requiring only the approval of the Parent Borrower, any Foreign Subsidiary Borrowers, the other Loan Parties, the Lenders providing such Incremental Term Loans, and the Administrative Agent.
(d)Section 2.11(a) of the Credit Agreement is amended and restated in its entirety to read as follows:
(a)    The Parent Borrower shall repay any Incremental Term Loans in consecutive installments (which shall be no more frequent than quarterly) as specified in the applicable Incremental Facility Activation Notice pursuant to which such Incremental Term Loans were made; provided, that, the weighted average life to maturity of any Incremental Term Loans shall not be shorter than the then-remaining weighted average life to maturity of any then-existing Term Loans.
(e)Clause first in Section 2.12(c) of the Credit Agreement is amended and restated in its entirety to read as follows:
first, to prepay the Term Loans in the manner and the order as directed in writing by the Parent Borrower to the Administrative Agent (provided that in the case of any excess cash flow mandatory prepayment required in connection with any Incremental Term Loans as permitted under Section 2.1(b), such prepayment shall be applied ratably to all Term Loans and to the principal repayment installments thereof on a pro rata basis), and

(f)Section 3.16 of the Credit Agreement is amended and restated in its entirety to read as follows:
Section 3.16    Collateral Representations; Insurance.
(a)Each Security Document (to the extent such Security Document is then in effect and to the extent that Collateral is required to be pledged pursuant to this Agreement) is effective to create in favor of the Administrative Agent a legal, valid and enforceable security interest in the Collateral to the extent described therein.  As of the Effective Date, Schedule 3.16 lists all of the filing jurisdictions in which UCC Financing Statements are required to be filed pursuant to any Security Document (to the extent such Security Document is then in effect and to the extent that Collateral is required to be pledged pursuant to this Agreement).  Upon filing of such UCC Financing Statements or the taking of such other actions as contemplated in the Security Documents, each Security Document (to the extent such Security Document is then in effect and to the extent that Collateral is required to be pledged pursuant to this Agreement) creates a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral, as security for the Obligations, in each case, subject to Permitted Encumbrances or as otherwise permitted by Section 6.3, prior and superior in right to any other Person.
(b)Set forth on Schedule 3.16(b) is a list of all Intellectual Property owned by the Parent Borrower or any Subsidiary Guarantor as of the First Amendment Effective Date which is the subject of a registration or application for registration with the United States Copyright Office or the United States Patent and Trademark Office.  As of the First Amendment Effective Date, none of the Intellectual Property owned by any of the Parent Borrower, any Subsidiary Guarantor or any of its Subsidiaries is subject to any licensing agreement or similar arrangement except (i) as set forth on Schedule 3.16(b), or (ii) in the ordinary course of business.
(c)Set forth on Schedule 3.16(c), as of the First Amendment Effective Date, is a list of all real property located in the United States that is owned or leased, in each case, by the Parent Borrower or any Subsidiary Guarantor (and, in each case, including (A) the name of the Loan Party owning (or leasing) such property, (B) the property address, (C) with respect to each Mortgaged Property, the number of buildings located on such property, and (D) the city, county, state and zip code which such property is located).
(d)No Mortgaged Property is a Flood Hazard Property unless the Administrative Agent shall have received the following: (i) the applicable Loan Party’s written acknowledgment of receipt of written notification from the Administrative Agent (A) as to the fact that such Mortgaged Property is a Flood Hazard Property, (B) as to whether the community in which each such Flood Hazard Property is located is participating in the National Flood Insurance Program and (C) such other flood hazard determination forms, notices and confirmations thereof as requested by the Administrative Agent and (ii) copies of insurance policies or certificates of insurance of the applicable Loan Party evidencing flood insurance reasonably satisfactory to the Administrative Agent and naming the Administrative Agent as loss payee on behalf of the holders of the Obligations.  All flood hazard insurance policies required hereunder have been obtained and remain in full force and effect, and the premiums thereon have been paid in full.
(e)The properties of the Parent Borrower and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the Parent Borrower, in such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or similar businesses operating in the same or similar locations.  The general liability, casualty, property, terrorism and business interruption insurance coverage of the Loan Parties as in effect on the First Amendment Effective Date is outlined as to carrier, policy number, expiration date, type, amount and deductibles on Schedule 3.16(e) and such insurance coverage complies with the requirements set forth in this Agreement and the other Loan Documents.
(g)A new Section 3.19 of the Credit Agreement is added to read as follows:
Section 3.19    EEA Financial Institution.
No Loan Party is an EEA Financial Institution.
(h)Section 5.2(d) of the Credit Agreement is amended by deleting “after the occurrence of the Ratings Event,” at the beginning thereof and replacing it with “to the extent that Collateral is required to be pledged pursuant to this Agreement,”.
(i)Section 5.7 of the Credit Agreement is amended and restated in its entirety to read as follows:

Section 5.7    Insurance.
(a)    The Parent Borrower will, and will cause each of its Restricted Subsidiaries to, maintain, with financially sound and reputable insurance companies (a) insurance in such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or similar businesses operating in the same or similar locations and (b) all insurance required to be maintained pursuant to the Security Documents, including flood hazard insurance on all Mortgaged Properties that are Flood Hazard Properties, on such terms and in such amounts as required by the National Flood Insurance Reform Act of 1994 or as otherwise required by the Administrative Agent.
(b)    The Parent Borrower will (i) cause the Administrative Agent to be named as lenders’ loss payable, loss payee or mortgagee, as its interest may appear, and/or additional insured with respect of any insurance providing liability coverage or coverage in respect of any Collateral, and cause, unless otherwise agreed to by the Administrative Agent, each provider of any such insurance to agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to the Administrative Agent that it will give the Administrative Agent thirty (30) days prior written notice before any such policy or policies shall be altered or cancelled (or ten (10) days prior notice in the case of cancellation due to the nonpayment of premiums), and (ii) not more frequently than once in any fiscal year,  upon expiration of current insurance coverage, provide to the Administrative Agent, such evidence of insurance evidencing maintenance of insurance as required by this Agreement or the Security Documents.
(c)    The Parent Borrower will promptly notify the Administrative Agent of any Mortgaged Property that is, or becomes, a Flood Hazard Property.
(j)    Section 5.11 of the Credit Agreement is amended and restated in its entirety to read as follows:
Section 5.11    Additional Collateral.
(a)    On each Collateral Date, the Parent Borrower will notify the Administrative Agent of the identity of any Wholly Owned Subsidiary that is not already a Subsidiary Guarantor and promptly after such Collateral Date will (i) in the case of each such Wholly Owned Subsidiary that is a Material Subsidiary, cause such Subsidiary (unless it is an Unrestricted Subsidiary, a Foreign Subsidiary (or a Subsidiary thereof) or a Receivables Entity) to become a “Subsidiary Guarantor” and, to the extent that Collateral is required to be pledged pursuant to this Agreement, a “Grantor” under the Guarantee and Collateral Agreement and, to the extent that Collateral is required to be pledged pursuant to this Agreement, to become a party to each other relevant Security Document, (ii) to the extent that Collateral is required to be pledged pursuant to this Agreement, cause the Capital Stock of such Wholly Owned Subsidiary (unless it is an Unrestricted Subsidiary) to be pledged pursuant to the Guarantee and Collateral Agreement (except that, (A) if such Subsidiary is a Foreign Subsidiary (or a Subsidiary thereof), no Capital Stock of such Subsidiary shall be pledged unless such Subsidiary is a Material Subsidiary that is directly owned by the Parent Borrower or a Subsidiary Guarantor, and then the amount of voting stock of such Subsidiary to be pledged pursuant to the Guarantee and Collateral Agreement shall be limited to 65% of the outstanding shares of voting stock of such Subsidiary, (B) if such Subsidiary is a Receivables Entity, no shares of Capital Stock of such Subsidiary shall be pledged if the documentation relating to the Receivables sale, factoring or securitization to which such Receivables Entity is a party expressly prohibits such pledge, (C) if the pledge of the Capital Stock of any such Wholly Owned Subsidiary would result in a violation of any laws, regulations or orders of any Governmental Authority, no shares of the Capital Stock of such Subsidiary shall be pledged, (D) no Capital Stock of SPX International GmbH shall be pledged, (E) neither the Parent Borrower nor any Subsidiary Guarantor shall be required to pledge any Capital Stock of Ballantyne Holding Company, and, for the avoidance of doubt, none of Ballantyne Company, SPX Clyde Luxembourg S.à r.l. or SPX Clyde UK Limited shall be required to be a “Grantor” under the Guarantee and Collateral Agreement or become a party to any other Security Document, (F) Capital Stock shall not be required to be pledged to the extent that the Guarantee and Collateral Agreement expressly provides that such Capital Stock is not required to be pledged, and (G) no Capital Stock of any Subsidiary that is not a Material Subsidiary shall be required to be pledged (notwithstanding anything set forth in the Guarantee and Collateral Agreement) so long as the aggregate assets of all such Subsidiaries whose Capital Stock is not pledged as Collateral pursuant to this clause (G) does not exceed $40,000,000 when taken together for all such Subsidiaries (excluding the assets of any Subsidiary the Capital Stock of which is not required to be pledged pursuant to clauses (A) - (F)) on an aggregate basis and (iii) to the extent that Collateral is required to be pledged pursuant to this Agreement, except in the case of an Unrestricted Subsidiary, a Foreign Subsidiary (or a Subsidiary thereof) or a Receivables Entity, take all steps required pursuant to this Section 5.11, Section 5.12 and the relevant Security Documents to create and perfect Liens in the relevant property of such Subsidiary; provided that the Parent Borrower and its Restricted Subsidiaries shall not be required to comply with the requirements of this Section 5.11(a) if the Administrative Agent, in its sole discretion, determines that the cost or other negative consequence to the 

Parent Borrower and its Restricted Subsidiaries of such compliance is excessive in relation to the value of the collateral security to be afforded thereby.
(b)    The Parent Borrower shall (i) execute and deliver, and cause each Subsidiary Guarantor to execute and deliver, to the Administrative Agent security documents (including the Security Agreement and Mortgages for each Mortgaged Property), in form and substance reasonably satisfactory to the Administrative Agent, pursuant to which the Parent Borrower and each Subsidiary Guarantor shall grant to the Administrative Agent, for the benefit of the holders of the Obligations, a security interest in all property of such Person (excluding any Excluded Property), and (ii) take, and cause the relevant Restricted Subsidiaries to take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such Liens, including actions described in Section 5.12, all at the expense of the Loan Parties; provided that the Parent Borrower and its Restricted Subsidiaries shall not be required to comply with the requirements of this Section 5.11(b) if the Administrative Agent, in its sole discretion, determines that the cost or other negative consequence to the Parent Borrower and its Restricted Subsidiaries of such compliance is excessive in relation to the value of the collateral security to be afforded thereby.
(c)    To the extent that Collateral is required to be pledged pursuant to this Agreement, if, as of any Collateral Date, any property of the Parent Borrower, any Subsidiary Guarantor that is party to any Security Document or any Restricted Subsidiary that is required to become a party to any Security Document pursuant to Section 5.11(a) or Section 5.11(b) is not already subject to a perfected first priority Lien (except to the same extent as not required pursuant to Section 5.11(b) or as permitted by Section 6.3) in favor of the Administrative Agent, the Parent Borrower will notify the Administrative Agent thereof, and, promptly after such Collateral Date, will cause such assets to become subject to a Lien under the relevant Security Documents and will take, and cause the relevant Restricted Subsidiary to take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such Liens, including actions described in Section 5.12, all at the expense of the Loan Parties; provided that the Parent Borrower and its Restricted Subsidiaries shall not be required to comply with the requirements of this Section 5.11(c) if the Administrative Agent, in its sole discretion, determines that the cost or other negative consequences to the Parent Borrower and its Restricted Subsidiaries of such compliance is excessive in relation to the value of the collateral security to be afforded thereby.
(d)    Promptly, and in any event within 60 days (or such longer period as is reasonably acceptable to the Administrative Agent), following the first date after the Release Date on which the corporate family rating of the Parent Borrower from Moody’s is less than “Baa3” (or not rated by Moody’s) and the corporate credit rating of the Parent Borrower from S&P is less than   “BBB-” (or not rated by S&P), the Parent Borrower shall (i) execute and deliver, and cause each Subsidiary Guarantor to execute and deliver, to the Administrative Agent security documents, in form and substance reasonably satisfactory to the Administrative Agent, pursuant to which the Parent Borrower and each Subsidiary Guarantor shall grant to the Administrative Agent, for the benefit of the holders of the Obligations, a security interest in all property (and types of property) of such Person that constituted Collateral under the Security Documents as in effect immediately prior to the Release Date (and, for the avoidance of doubt, shall not include Capital Stock not required to be pledged pursuant to Section 5.11(a) or other assets not required to be subjected to a Lien pursuant to Section 5.11(b)) and (ii) take, and cause the relevant Restricted Subsidiaries to take, such actions as shall be necessary or reasonably requested by the Administrative Agent to grant and perfect such Liens, including actions described in Section 5.12, all at the expense of the Loan Parties.
(e)    Notwithstanding anything to the contrary in this Section 5.11 or any other Loan Document, neither the Parent Borrower nor any of the Subsidiary Guarantors shall be required to take any action to perfect the security interest of the Administrative Agent in the Collateral other than (i) filing UCC financing statements, (ii) delivering Capital Stock required to be pledged pursuant to Sections 5.11(a), (b) and (c) (including stock powers endorsed in blank or other appropriate instruments of transfer), (iii) executing, delivering, filing and recording mortgages with respect to owned real property in which a security interest is required to be granted pursuant to this Section 5.11 and (iv) executing, delivering, filing and recording notices of grants of security interest with the United States Patent Office and/or United States Copyright Office.  For the avoidance of doubt, perfection by control shall not be required with respect to assets requiring perfection through control agreements or other control arrangements, including deposit accounts, securities accounts and commodities accounts (other than control of Capital Stock required to be pledged pursuant to Sections 5.11(a), (b) and (c)).
(f)    Notwithstanding anything herein to the contrary, no Foreign Subsidiary (or any Subsidiary thereof) shall, or shall be deemed to, guarantee any Borrowing by the Parent Borrower, and no assets of any Foreign Subsidiary (or Subsidiary thereof) shall be given as security for such Borrowing. This provision is meant to prevent any inclusions pursuant to Section 956 of the Code and shall be interpreted in accordance therewith.

(k)    A new Section 5.15 of the Credit Agreement is added to read as follows:
Section 5.15    Liquidity Requirement.
On and after May 4, 2017, for so long as any Senior Notes remain outstanding, the Parent Borrower shall cause the Liquidity Amount at all times to equal or exceed the aggregate outstanding principal amount of the Senior Notes.
(l)    Section 6.1(a) is amended and restated in its entirety to read as follows:
(a)    Consolidated Leverage Ratio.  The Parent Borrower will not permit the Consolidated Leverage Ratio as at the last day of any fiscal quarter of the Parent Borrower to exceed 4.00 to 1.0.
(m)    Section 6.2 of the Credit Agreement is amended to (i) delete the “and” at the end of clause (r) thereof, (ii) replace the “.” at the end of clause (s) thereof with “; and”, and (iii) add a new clause (t) at the end thereof to read as follows:
(t)    Indebtedness of Foreign Subsidiaries incurred pursuant to any bilateral facility with any Lender (or any branch, subsidiary or other affiliate of such Lender) in jurisdictions other than the United States for the purpose of providing letters of credit, foreign credit instruments, guarantees or similar instruments (but not, for the avoidance of doubt, for any extension of credit in the form of loans for borrowed money or overdrafts) if such bilateral facilities are (i) required by the laws of such jurisdiction to be evidenced by legal documentation governed by, and executed and delivered in, such jurisdiction or treated more favorably under such laws than comparable facilities governed by other laws or extended by lenders outside such jurisdiction, and (ii) fully backstopped by one or more Letters of Credit or FCIs issued under this Agreement.
(n)    Section 6.3 of the Credit Agreement is amended to (i) delete the “and” at the end of clause (k) thereof, (ii) replace the “.” at the end of clause (l) thereof with “; and”, and (iii) add a new clause (m) at the end thereof to read as follows:
(m)    Liens on assets of Foreign Subsidiaries securing Indebtedness permitted by Section 6.2(t).
(o)    The last sentence of Section 6.3 of the Credit Agreement is amended and restated in its entirety to read as follows:
It is understood that Liens pursuant to Sections 6.3(d), (e), (f), (g), (h), (i), (j), (l) and (m) may be Incurred only to the extent the corresponding Indebtedness is expressly permitted to be Incurred pursuant to Section 6.2.
(p)    The proviso of clause (i) of Section 6.11 of the Credit Agreement is amended and restated in its entirety to read as follows:
provided that such restrictions and conditions shall not restrict any Loan Party from complying with the requirements set forth in Section 5.11;
(q)    The last paragraph of Section 8.3 of the Credit Agreement is amended and restated in its entirety to read as follows:
The Agents shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Security Documents, (v) the value or the sufficiency of any Collateral, or (vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the applicable Agent.
(r)    Section 8.9 of the Credit Agreement is amended to (i) amend and restate the header to read “Administrative Agent May File Proofs of Claim; Credit Bidding”, and (ii) add a new paragraph at the end thereof to read as follows:
The holders of the Obligations hereby irrevocably authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion of the Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner 

purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code of the United States, including under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, or any similar laws in any other jurisdictions to which a Loan Party is subject, or (b) at any other sale or foreclosure or acceptance of collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any applicable law.  In connection with any such credit bid and purchase, the Obligations owed to the holders of the Obligations shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) in the asset or assets so purchased (or in the equity interests or debt instruments of the acquisition vehicle or vehicles that are used to consummate such purchase).  In connection with any such bid (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or equity interests thereof shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in Section 9.2 of this Agreement, (iii) the Administrative Agent shall be authorized to assign the relevant Obligations to any such acquisition vehicle pro rata by the Lenders, as a result of which each of the Lenders shall be deemed to have received a pro rata portion of any equity interests and/or debt instruments issued by such an acquisition vehicle on account of the assignment of the Obligations to be credit bid, all without the need for any holder of the Obligations or acquisition vehicle to take any further action), and (iv) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Lenders pro rata and the equity interests and/or debt instruments issued by any acquisition vehicle on account of the Obligations that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any holder of the Obligations or any acquisition vehicle to take any further action.
(s)    The last paragraph of Section 8.10 of the Credit Agreement is amended and restated in its entirety to read as follows:
Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guarantee and Collateral Agreement, pursuant to this Section 8.10.  In each case as specified in this Section 8.10, the Administrative Agent will, at the Parent Borrower’s expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Security Documents in accordance with the terms of the Loan Documents and this Section 8.10.  The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.
(t)    Section 9.4 of the Credit Agreement is amended to add a new subsection (l) to the end thereof to read as follows:
(l)    Assignment by MLPFS.  The parties hereby agree that MLPFS may, without notice to the Parent Borrower, assign its rights and obligations under this Agreement to any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its subsidiaries’ investment banking, commercial lending services or related businesses may be transferred following the First Amendment Effective Date.
(u)    The first sentence of Section 9.13 of the Credit Agreement is amended and restated in its entirety to read as follows:
On the first date (the “Release Date”) on which the corporate family rating of the Parent Borrower from Moody’s is “Baa3” or better or the corporate credit rating of the Parent Borrower from S&P is “BBB-” or better, subject to any additional condition required by the Lenders providing any Incremental Term Loans as provided in Section 2.1(b), and so long as no Default or Event of Default exists on such date or after giving effect to the release of Liens contemplated hereby, all Collateral shall be released from the Liens created by the Guarantee and Collateral Agreement and any other 

Security Document, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Loan Parties.  
(v)    A new Section 9.21 to the Credit Agreement is added to read as follows:
Section 9.21    Acknowledgement and Consent to Bail-In of EEA Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: (a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender that is an EEA Financial Institution; and (b) the effects of any Bail-in Action on any such liability, including, if applicable: (i) a reduction in full or in part or cancellation of any such liability; (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or (iii) the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.  
(w)    Schedule 2.23 to the Credit Agreement is amended by deleting the words “Under Foreign Trade Facility” found immediately after the document heading.
(x)    A new Schedule 3.16(b) is added to the Credit Agreement in the form of Schedule 3.16(b) attached hereto.
(y)    A new Schedule 3.16(c) is added to the Credit Agreement in the form of Schedule 3.16(c) attached hereto.
(z)    A new Schedule 3.16(e) is added to the Credit Agreement in the form of Schedule 3.16(e) attached hereto.
2.    Conditions Precedent.  This effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent:
(a)    receipt by the Administrative Agent of counterparts of (i) this Amendment, duly executed by the Parent Borrower, each Foreign Subsidiary Borrower, each other Loan Party, each FCI Issuing Lender, the Required Lenders, the Foreign Trade Facility Agent and the Administrative Agent, (ii) the Security Agreement, duly executed by the Parent Borrower, each Subsidiary Guarantor, and the Administrative Agent, and (iii) a Mortgage for each Mortgaged Property, duly executed and notarized by the applicable Loan Party;
(b)    receipt by the Administrative Agent of legal opinions (addressed to the Agents and the Lenders and dated the First Amendment Effective Date) from (i) Latham & Watkins LLP, counsel for the Parent Borrower, (ii) Latham & Watkins LLP, counsel for the Foreign Subsidiary Borrower, and (iii) the General Counsel of the Parent Borrower, in each case, the opinions of which shall be customary for transactions of this type; 
(c)    receipt by the Administrative Agent of the following, in form and substance reasonably satisfactory to the Administrative Agent and its legal counsel: (i)     copies of the organizational documents of each Loan Party certified to be true and complete as of a recent date by the appropriate Governmental Authority of the jurisdiction of its organization or incorporation, where applicable (or, to the extent such organizational documents have not been amended or modified since the Funding Date, a certification from a Responsible Officer of the applicable Loan Party that no amendments or modifications to such organizational documents have been made since the Funding Date), and certified by a Responsible Officer of such Loan Party to be true and correct as of the First Amendment Effective Date, (ii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan Party as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act on behalf of such Loan Party in connection with this Amendment and the other Loan Documents to which such Loan Party is a party, and (iii) such documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and is validly existing, in good standing and qualified to engage in business in its jurisdiction of organization or incorporation;
(d)    receipt by the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent, of (i) (A) searches of UCC filings in the jurisdiction of incorporation or formation, as applicable, of the Parent Borrower and each 

Subsidiary Guarantor and each jurisdiction where any Collateral is located or where a filing would need to be made in order to perfect the Administrative Agent’s security interest in the Collateral, copies of the financing statements on file in such jurisdictions and evidence that no Liens exist other than Permitted Encumbrances or as otherwise permitted pursuant to Section 6.3 of the Credit Agreement, and (B) tax lien, judgment and bankruptcy searches, (ii) searches of ownership of Intellectual Property in the appropriate governmental offices and such patent/trademark/copyright filings as requested by the Administrative Agent in order to perfect the Administrative Agent’s security interest in the Intellectual Property, and (iii) completed UCC financing statements for each appropriate jurisdiction as is necessary, in the Administrative Agent’s sole discretion, to perfect the Administrative Agent’s security interest in the Collateral;
(e)    receipt by the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent, of (i) all Mortgaged Property Support Documents with respect to each Mortgaged Property, and (ii) completed “life of loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance duly executed by each Loan Party relating thereto);
(f)    receipt by the Administrative Agent of copies of insurance policies, declaration pages, certificates, and endorsements of insurance or insurance binders evidencing liability, casualty, property, terrorism and business interruption insurance meeting the requirements set forth in the Credit Agreement, including, without limitation, (i) standard flood hazard determination forms, and (ii) if any property is located in a special flood hazard area (A) notices to (and confirmations of receipt by) the applicable Loan Party as to the existence of a special flood hazard and, if applicable, the unavailability of flood hazard insurance under the National Flood Insurance Program, and (B) evidence of applicable flood insurance, if available, in each case in such form, on such terms and in such amounts as required by The National Flood Insurance Reform Act of 1994 or as otherwise required by the Administrative Agent;
(g)    receipt by the Administrative Agent of a certificate signed by a Responsible Officer of the Parent Borrower, certifying that the representations and warranties of each Loan Party set forth in the Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) on and as of the First Amendment Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) as of such earlier date; and
(h)    receipt by the Administrative Agent, the Foreign Trade Facility Agent, and the Lenders of all fees and other amounts due and payable on or prior to the First Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all out of pocket expenses (including fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party.
For purposes of determining compliance with the conditions specified in this Section 2, each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed First Amendment Effective Date specifying its objection thereto.
3.    Miscellaneous.
(a)    The Credit Agreement and the obligations of the parties thereunder and under the other Loan Documents, are hereby ratified and confirmed and shall remain in full force and effect according to their terms.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or any Agent under any of the Loan Documents, or, except as expressly provided herein, constitute a waiver or amendment of any provision of any of the Loan Documents.  This Amendment shall constitute a Loan Document.
(b)    Each Subsidiary Guarantor (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) affirms all of its obligations under the Loan Documents and (iii) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Credit Agreement or the other Loan Documents.
(c)    Each of the Loan Parties hereby represents and warrants as follows:
(i)    Such Loan Party has taken all necessary action to authorize the execution, delivery and performance of this Amendment.

(ii)    This Amendment has been duly executed and delivered by such Loan Party and constitutes such Loan Party’s legal, valid and binding obligations, enforceable 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.
(iii)    No consent or approval of, authorization or order of, or filing, registration or qualification with, any Governmental Authority is required in connection with the execution, delivery or performance by any Loan Party of this Amendment.
(d)    This Amendment 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.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.
(e)    THIS AMENDMENT shall be construed in accordance with and governed by the law of the State of New York (including Sections 5-1401 and 5-1402 of the New York General Obligations Law).
[Signature pages follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
PARENT BORROWER:                SPX FLOW, INC.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

FOREIGN SUBSIDIARY BORROWERS:        SPX FLOW TECHNOLOGY CRAWLEY LIMITED,
a company organized under the laws of the United Kingdom

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

SUBSIDIARY GUARANTORS:            CORPORATE PLACE LLC,
a Delaware limited liability company

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

SPX FLOW HOLDINGS, INC.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

SPX FLOW TECHNOLOGY SYSTEMS, INC.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

SPX FLOW US, LLC,
a Delaware limited liability company

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

DELANEY HOLDINGS CO.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

ADMINISTRATIVE AGENT:            BANK OF AMERICA, N.A.,
as Administrative Agent

By: /s/ Robert Rittelmeyer 
Name: Robert Rittelmeyer
Title: Vice President

FOREIGN TRADE FACILITY AGENT:        DEUTSCHE BANK AG DEUTSCHLANDGESCHÄFT 
BRANCH,
as Foreign Trade Facility Agent

By: /s/ Christiane Roth 
Name: Christiane Roth
Title: Managing Director

By: /s/ Myriam Rotthaus 
Name: Myriam Rotthaus
Title: Vice President

LENDERS:                    BANK OF AMERICA, N.A.,
as a Lender, Swingline Lender and Issuing Lender

By: /s/ David L. Catherall 
Name: David L. Catherall 
Title: Managing Director

HSBC BANK USA, NATIONAL ASSOCIATION,
as a Lender and Participation FCI Issuing Lender 

By: /s/ Chris Burns 
Name: Chris Burns
Title: Vice President

HSBC BANK PLC,
as a Bilateral FCI Issuing Lender

By: /s/ David Hampsey 
Name: David Hampsey
Title: Relationship Director

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
as a Lender and a Participation FCI Issuing Lender 

By: /s/ George Stoecklein 
Name: George Stoecklein
Title: Managing Director

JPMORGAN CHASE BANK, N.A.,
as a Lender

By: /s/ Robert D. Bryant 
Name: Robert D. Bryant
Title: Executive Director

DEUTSCHE BANK AG DEUTSCHLANDGESCHÄFT BRANCH,
as a Lender, Participation FCI Issuing Lender, Bilateral FCI Issuing Lender and an Issuing Lender

By: /s/ Christiane Roth 
Name: Christiane Roth
Title: Managing Director

By: /s/ Myriam Rotthaus 
Name: Myriam Rotthaus
Title: Vice President

DEUTSCHE BANK AG NEW YORK BRANCH,
as a Lender

By: /s/ Marcus M. Tarkington 
Name: Marcus M. Tarkington
Title: Director

By: /s/ Dusan Lazarov 
Name: Dusan Lazarov 
Title: Director

COMMERZBANK AG, NEW YORK BRANCH,
as a Lender 

By: /s/ Diane Pockaj 
Name: Diane Pockaj
Title: Managing Director

By: /s/ Vanessa De La Ossa 
Name: Vanessa De La Ossa
Title: Assistant Vice President

COMMERZBANK AG, FRANKFURT BRANCH,
as a Lender, Participation FCI Issuing Lender and Bilateral FCI Issuing Lender 

By: /s/ Lothar Frenz 
Name: Lothar Frenz
Title: Director

By: /s/ Lah 
Name: Lah
Title: Director

THE BANK OF NOVA SCOTIA,
as a Lender and Bilateral FCI Issuing Lender 

By: /s/ Michelle C. Phillips 
Name: Michelle C. Phillips
Title: Execution Head & Director

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,
as a Lender 

By: /s/ Brad Matthews 
Name: Brad Matthews
Title: Director

By: /s/ Gary Herzog 
Name: Gary Herzog
Title: Managing Director

SUNTRUST BANK,
as a Lender 

By: /s/ Shannon Offen 
Name: Shannon Offen
Title: Director

COMPASS BANK,
as a Lender 

By: /s/ Daniel Feldman 
Name: Daniel Feldman
Title: Vice President

SUMITOMO MITSUI banking corporation,
as a Lender 

By: /s/ David Kee 
Name: David Kee
Title: Managing Director

DNB CAPITAL LLC,
as a Lender, with DNB Bank ASA Grand Cayman Branch as designated funder for loans to a UK Borrower 

By: /s/ Kristie Li 
Name: Kristie Li
Title: Senior Vice President

By: /s/ Colleen Durkin 
Name: Colleen Durkin
Title: Senior Vice President

DNB BANK ASA GRAND CAYMAN BRANCH,
as a Participation FCI Lender and Participation FCI Issuing Lender

By: /s/ Kristie Li 
Name: Kristie Li
Title: Senior Vice President

By: /s/ Colleen Durkin 
Name: Colleen Durkin
Title: Senior Vice President

TD BANK, N.A.,
as a Lender 

By: /s/ Mark Hogan 
Name: Mark Hogan
Title: Senior Vice President

WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender 

By: /s/ Boaz Slomowitz 
Name: Boaz Slomowitz
Title: Vice President

NORDEA BANK FINLAND PLC, NEW YORK AND GRAND CAYMAN BRANCHES,
as a Lender 

By: /s/ Las Christian Eriksen 
Name: Las Christian Eriksen
Title: Vice President

By: /s/ Gustaf Stael von Holstein 
Name: Gustaf Stael von Holstein
Title: Head of Risk Management

U.S. BANK NATIONAL ASSOCIATION,
as a Lender 

By: /s/ Steven L. Sawyer 
Name: Steven L. Sawyer
Title: Senior Vice President

CITIZENS BANK OF PENNSYLVANIA,
as a Lender 

By: /s/ Jeffrey Mills 
Name: Jeffrey Mills
Title: Vice President

CITIBANK, N.A.,
as a Lender 

By: /s/ Stephanie Bowker 
Name: Stephanie Bowker
Title: Director

THE NORTHERN TRUST COMPANY,
as a Lender 

By: /s/ John C. Canty 
Name: John C. Canty
Title: Senior Vice President

BNP PARIBAS,
as a Lender 

By: /s/ Pawel Zelezik 
Name: Pawel Zelezik
Title: Vice President

By: /s/ Kwang Kyun Choi 
Name: Kwang Kyun Choi
Title: Vice President

BANK OF CHINA, NEW YORK BRANCH,
as a Lender 

By: /s/ Haifeng Xu 
Name: Haifeng Xu
Title: Executive Vice President

TAIWAN COOPERATIVE BANK, LOS ANGELES BRANCH,
as a Lender 

By: /s/ Ming-Chih Chen     
Name: Ming-Chih Chen
Title: VP & GM

Schedule 3.16(b)
Intellectual Property

SPX Flow, Inc.
(Delaware Corporation)

U.S. Patents

Issued Patents
	
			
	Title
	Patent No.
	Issue Date

	DOUBLE SEAT VALVE WITH ISOLATED VENT CHAMBERS
	9328837
	05/03/16

	IMPELLER ASSEMBLY APPARATUS AND METHOD
	9327256
	05/03/16

	MIXING APPARATUS WITH STATIONARY SHAFT
	9289733
	03/22/16

	HIGH TORQUE ROTARY MOTOR WITH MULTI-LOBED RING WITH INLET AND OUTLET
	9206688
	12/08/15

	AUTO CYCLE PUMP AND METHOD OF OPERATION
	9193046
	11/24/15

	MIXER ATTACHMENT ASSEMBLY APPARATUS AND METHOD
	9101887
	08/11/15

	BALL VALVE SEAT SEAL
	8998172
	04/07/15

	INTERNALLY DIRECTED AIR JET COOLING FOR A HYDRAULIC PUMP
	8979507
	03/17/15

	NOSE SEAL FOR SURGE RELIEF VALVES
	8733737
	05/27/14

	INTERNALLY SUPPLIED AIR JET COOLING FOR A HYDRAULIC PUMP
	8500418
	08/06/13

	DESUPERHEATER SEAT-RING APPARATUS
	8469341
	06/25/13

	ATOMIZING DESUPERHEATER SHUTOFF APPARATUS AND METHOD
	8333329
	12/18/12

	DOUBLE SEAT VALVE APPARATUS
	8327881
	12/11/12

	PRESSURE COMPENSATED AND CONSTANT HORSEPOWER PUMP
	8192173
	06/05/12

	POSITIVE DISPLACEMENT PUMP APPARATUS AND METHOD
	8007264
	08/30/11

	PISTON CARTRIDGE
	7950910
	05/31/11

	MOUNTING ASSEMBLY AND METHOD FOR A DRIVE SYSTEM FOR A MIXER
	7874719
	01/25/11

	MOUNTING SYSTEM AND METHOD FOR SCRAPED SURFACE HEAT EXCHANGER BLADES
	7793418
	09/14/10

	SOLVENT EXTRACTION METHOD AND APPARATUS
	7753215
	07/13/10

	SANITARY REMOVABLE IMPELLER HUB AND METHOD
	7726946
	06/01/10

	SCRAPER BLADE INTERLOCKING ATTACHMENT APPARATUS AND METHOD
	7647666
	01/19/10

	MIXER DRIVE MOUNTING APPARATUS AND METHOD
	7572112
	08/11/09

	PUMP ROTOR SEAL APPARATUS AND METHOD
	7563087
	07/21/09

	CYLINDRICAL MIXER-SETTLER APPARATUS AND METHOD
	7550120
	06/23/09

	DISPOSABLE SANITARY MIXING APPARATUS AND METHOD
	7547135
	06/16/09

	BEARING RETAINER ASSEMBLY AND METHOD
	7507028
	03/24/09

	SANITARY HUB ASSEMBLY AND METHOD FOR IMPELLER MOUNTING ON SHAFT
	7488137
	02/10/09

	
			
	MIXING IMPELLER WITH PRE-SHAPED TIP ELEMENTS
	7481573
	01/27/09

	MIXING IMPELLER WITH SPIRAL LEADING EDGE
	7473025
	01/06/09

	TRIPOD-MOUNTED MAGNETIC MIXER APPARATUS AND METHOD
	7407322
	08/05/08

	SANITARY STEADY BEARING AND METHOD
	7387431
	06/17/08

	TRAPEZOID SETTLER APPARATUS AND METHOD FOR SOLVENT EXTRACTION
	7384551
	06/10/08

	START-UP METHOD FOR DRAFT TUBE MIXING
	7331704
	02/19/08

	COUPLING ASSEMBLY AND METHOD FOR CONNECTING AND DISCONNECTING A SHAFT ASSEMBLY
	7329065
	02/12/08

	SOLVENT EXTRACTION METHOD AND APPARATUS
	7328809
	02/12/08

	HYDRAULIC HAND PUMP WITH LOCKING DEVICE
	7316177
	01/08/08

	MOUNTING SYSTEM AND METHOD FOR SCRAPED SURFACE HEAT EXCHANGER BLADES
	7303000
	12/04/07

	SURGE RELIEF APPARATUS AND METHOD
	7284563
	10/23/07

	HUB ASSEMBLY AND METHOD FOR ADJUSTABLE MOUNTING ON SHAFT
	7278799
	10/09/07

	VALVE ASSEMBLY AND METHOD WITH SLOTTED PLATES AND SPHERICAL BALL PLUG
	7234488
	06/26/07

	FLUID TRIM APPARATUS AND METHOD
	7195034
	03/27/07

	AGITATION APPARATUS AND METHOD FOR DRY SOLIDS ADDITION TO FLUID
	7168849
	01/30/07

	AXIAL-PUMPING IMPELLER APPARATUS AND METHOD FOR MAGNETICALLY-COUPLED MIXER
	7168848
	01/30/07

	ATTRITION SCRUBBER APPARATUS AND METHOD
	7168641
	01/30/07

	AERATION APPARATUS AND METHOD
	7114844
	10/03/06

	IMPELLER AND METHOD USING SOLID FREE FORM FABRICATION
	7056095
	06/06/06

	HAND PUMP
	D520522
	05/09/06

	SCRAPER BLADE
	D520203
	05/02/06

	PUMP GEARBOX BEARING RETAINERS AND DRIVE SHAFTS
	D518069
	03/28/06

	PUMP GEARBOX BEARING RETAINERS AND DRIVE SHAFTS
	D517090
	03/14/06

	PUMP GEARBOX BEARING RETAINERS AND DRIVE SHAFTS
	D516087
	02/28/06

	CLEANABLE MIXER DRIVER APPARATUS AND METHOD
	7001063
	02/21/06

	SCRAPER BLADE
	D515760
	02/21/06

	MECHANICAL SEAL DEVICE AND METHOD FOR A SCRAPED SURFACE HEAT EXCHANGER
	6994351
	02/07/06

	MASS TRANSFER METHOD
	6986507
	01/17/06

	SCRAPER BLADE ATTACHMENT APPARATUS AND METHOD WITH SPLIT PIN
	6966757
	11/22/05

	PUMP GEARBOX BEARING RETAINERS AND DRIVE SHAFTS
	D509225
	09/06/05

	COMBINED PUMP GEAR BOX BEARING RETAINERS AND DRIVE SHAFTS
	D509226
	09/06/05

	COMBINED PUMP GEAR BOX BEARING RETAINERS AND DRIVE SHAFTS
	D508920
	08/30/05

	AERATION APPARATUS AND METHOD
	6896246
	05/24/05

	DRIVE ASSEMBLY FOR A MIXER
	6877750
	04/12/05

	AGITATOR AND DRIVE APPARATUS AND METHOD
	6860474
	03/01/05

	
			
	IMPELLER AND METHOD USING SOLID FREE FORM FABRICATION
	6796770
	09/28/04

	DUAL DIRECTION MIXING IMPELLER AND METHOD
	6796707
	09/28/04

	APPARATUS AND METHOD FOR CONNECTING SHAFTS
	6789314
	09/14/04

	SEAL SHAFT SHUTOFF DEVICE AND METHOD
	6746147
	06/08/04

	SEAL SHAFT SHUTOFF DEVICE AND METHOD
	6742923
	06/01/04

	MATERIAL DISPERSING DEVICE AND METHOD
	6619568
	09/16/03

	APPARATUS AND PROCESS FOR RECOVERING A DESIRED FRACTION OF A RAW MATERIAL
	6612444
	09/02/03

	FLEXIBLE SUPPORT AND METHOD FOR A STEADY BEARING
	6517246
	02/11/03

	SUPPORT ASSEMBLY FOR SUPPORTING A STEADY BEARING
	6517233
	02/11/03

	COMPACT EXPANDING GATE VALVE
	6164622
	12/26/00

	HIGH ENERGY LOSS FLUID CONTROL DEVICE
	6161584
	12/19/00

	MIXING SYSTEM FOR INTRODUCING AND DISPERSING GAS INTO LIQUIDS
	6158722
	12/12/00

	SOFT START VALVE
	6120260
	09/19/00

	SOFT START VALVE
	6079957
	06/27/00

	FLUID MIXING DEVICE
	6022135
	02/08/00

	UNIFORCE HYDRAULIC CLAMP
	6019357
	02/01/00

	MIXING IMPELLERS ESPECIALLY ADAPTED FOR USE IN SURFACE AERATION
	5988604
	11/23/99

	MIXER SPARGING APPARATUS
	5925293
	07/20/99

	MIXER HAVING EXPOSED CLEAN-IN-PLACE BEAARING ASSEMBLIES
	5779359
	07/14/98

Patent Applications
	
			
	Title
	Appl. No.
	Filing Date

	MULTI-PART, MANIFOLD AND METHOD OF MAKING THE MANIFOLD
	14821985
20150345685
	08/10/15

	ACTUATION ROD LUBRICATION SYSTEM AND METHOD
	14805148
20160025220
	07/21/15

	FLOATING PISTON
	14805073
20160025218
	07/21/15

	MULTI-PART, TAPERED, CONCENTRIC MANIFOLD AND METHOD OF MAKING THE MANIFOLD
	14716755
20150252932
	05/19/15

	CYLINDER HAVING A FLOATING PISTON, LOW PROFILE SWIVEL CAP, AND LUBRICATED ROD
	14643940
20150184682
	03/10/15

	ELECTRIC MOTOR WITH RADIALLY MOUNTED MAGNETS
	14505152
20160099625
	10/02/14

	CYLINDER HAVING A FLOATING PISTON, SWIVEL CAP, AND LUBRICATED ROD
	14338102
20150233396
	07/22/14

	RETRACTABLE MIXING DEVICE AND METHOD
	14331824
20150016212
	07/15/14

	RETRACTABLE MIXING DEVICE AND METHOD
	14331806
20150016213
	07/15/14

	PRESSURE BALANCED HYDRAULIC DEVICE AND METHOD
	14313541
20140373928
	06/24/14

	SWIVEL CAP
	14250615
20140308066
	04/11/14

	ROTARY VANE MOTOR WITH SPLIT VANE
	13938652
20150017050
	07/10/13

	DIRECTIONAL VALVE AND METHOD OF OPERATION
	13909755
20140352828
	06/04/13

	PNEUMATIC DIRECTIONAL VALVE AND METHOD OF OPERATION
	13909644
20140352790
	06/04/13

	ATOMIZING DESUPERHEATER SHUTOFF APPARATUS AND METHOD
	13680846
20130074788
	11/19/12

	SELF ALIGNING CYLINDER PISTON AND ROD BEARING AND METHOD OF MANUFACTURE THEREOF
	13650697
20140102293
	10/12/12

	PUMP DEVICE
	13624388
20130017101
	09/21/12

	MIXER ASSEMBLY APPARATUS AND METHOD
	13615855
20130188441
	09/14/12

	RESERVOIR COOLING APPARATUS AND METHOD
	13460526
20130284408
	04/30/12

Unpublished Patent Applications
	
			
	Title
	Appl. No.
	Application Date

	MIXER ASSEMBLY APPARATUS AND METHOD
	15182070
	06/14/2016

	LOW WEAR RADIAL FLOW IMPELLER DEVICE AND SYSTEM
	15164349
	05/25/2016

	TRIMABLE IMPELLER DEVICE AND SYSTEM
	15165188
	05/26/2016

	HYDRAULIC PUMP WITH ELECTRIC GENERATOR
	15176865
	06/08/2016

SPX Flow Technology Systems, Inc.
(Delaware Corporation)

U.S. Patent
Patent Application
	
			
	Title
	Appl. No.
	Filing Date

	ELASTOMERIC GASKET
	12784068
20110284194
	05/20/10

 SPX Flow, Inc.
(Delaware Corporation)

U.S. Trademarks

Trademark Registrations
	
			
	Mark
	Reg. No.
	Reg. Date

	TEF FLOW
	4981621
	06/21/16

	SANSTAR
	4939836
	04/19/16

	FLANGEPRO
	4847219
	11/03/15

	INFINITY
	4538129
	05/27/14

	X
	4471201
	01/21/14

	Design Only
	4471200
	01/21/14

	WHERE IDEAS MEET INDUSTRY
	4436695
	11/19/13

	DIELECTRIC and Design
	4293265
	02/19/13

	CLAMPLOCK
	4210174
	09/18/12

	SPX
	4045637
	10/25/11

	SPX CLAMPLOCK
	3624686
	05/19/09

	OFM
	3601056
	04/07/09

	PLENTY
	3563282
	01/20/09

	MAGMO
	3466343
	07/15/08

	M & J VALVE
	3462039
	07/08/08

	PLENTY MIRRLEES
	3462035
	07/08/08

	GD ENGINEERING
	3462034
	07/08/08

	QUICKSHIP
	3447277
	06/17/08

	TRU-FIT
	3385570
	02/19/08

	PICK-A-PACK
	3253822
	06/19/07

	UNIVERSAL
	3064752
	03/07/06

	M & J
	3061574
	02/28/06

	ECL
	2935270
	03/22/05

	STONE
	2601071
	07/30/02

	NETTCO
	2553963
	03/26/02

	SPX
	2528505
	01/08/02

	SPX
	2351520
	05/23/00

	BALL-TROL
	1946996
	01/09/96

	CHERRY-BURRELL
	1925232
	10/10/95

	MAGMIXER
	1861347
	11/01/94

	QUARTER HORSE
	1851302
	08/30/94

	
			
	POWER TEAM
	1521541
	01/24/89

	CAV-B9
	1449281
	07/28/87

	LIGHTNIN
	1445987
	07/07/87

	GLOBE
	1313128
	01/08/85

	HUSH
	1297380
	09/25/84

	"I"
	1284950
	07/10/84

	LIGHTNIN
	1263995
	01/17/84

	POWER TEAM
	1241810
	06/14/83

	COPES-VULCAN
	1228163
	02/22/83

	OTC HYTEC
	1189120
	02/09/82

	POWER TEAM
	1155270
	05/26/81

	POSI-CHECK
	1139382
	09/09/80

	LIGHTNIN
	1118165
	05/15/79

	HYTEC
	0994638
	10/01/74

	ROLL-BED
	0956467
	04/03/73

	CLEANWALL
	0838373
	11/07/67

	VANGUARD JR.
	0837522
	10/24/67

	SPIRATHERM
	0762741
	01/07/64

	VOTATOR
	0759173
	10/29/63

	VANGUARD
	0716805
	06/13/61

	LIGHTNIN
	0699396
	06/14/60

	THERMUTATOR
	0691272
	01/12/60

	WAUKESHA
	0688252
	11/17/59

	LIGHTNIN
	0682153
	07/21/59

	LIGHTNIN
	0227991
	05/17/27

Trademark Applications
	
			
	Mark
	Appl. No.
	Filing Date

	WAUKESHA
	87058978
	06/03/16

	CERTIFIED SPXFLOW SERVICE + REPAIR CENTER and Design
	86810788
	11/05/15

	SPXFLOW
	86742471
	08/31/15

	Design Only
	86718009
	08/07/15

	CUDA
	86678143
	06/29/15

	SEITAL
	86599967
	04/16/15

	ECOPURE
	86285496
	05/19/14

	RAVEN
	86091084
	10/14/13

 SPX Flow Technology Systems, Inc.
(Delaware Corporation)

U.S. Trademark
Trademark Registration
	
			
	Mark
	Reg. No.
	Reg. Date

	GAULIN
	0716085
	05/30/61

Schedule 3.16(c)
Owned and Leased Real Property
	
					
	Loan Party
	Property Address
	Owned / Leased
	Mortgaged Property
	Number of Buildings

	SPX FLOW, Inc.
	13320 Ballantyne Corporate Place, Charlotte, NC 28277, Mecklenburg County
	Owned
	Yes
	1

	SPX Flow Technology Systems, Inc.
	1200 West Ash Street, Goldsboro, NC 27533, Wayne County
	Owned
	Yes
	1

	SPX Flow US, LLC
	5885 11th Street, Rockford, IL 61109-3650, Winnebago County
	Owned
	Yes
	1

	SPX Flow US, LLC
	135 Mount Read Blvd, Rochester, NY 14611, Monroe County
	Owned
	Yes
	1

	SPX Flow US, LLC
	611 Sugar Creek Rd, Delevan, WI 53115, Walworth County
	Owned
	Yes
	1

	SPX Flow US, LLC
	8800 Westplain Drive, Houston, TX 77041, Harris County
	Owned
	No
	N/A

	SPX Flow US, LLC
	1000 Millstead Way, Rochester, NY 14624, Monroe County
	Owned
	No
	N/A

	SPX Flow US, LLC
	3726 Kermit Hwy., Odessa, TX 79764, Ector County
	Owned
	No
	N/A

	SPX FLOW, Inc.
	8521 Princess East Drive, Scottsdale, AZ 85255, Maricopa County
	Leased
	No
	N/A

	SPX FLOW, Inc.
	5305-A Morris Field Drive (Hangar), Charlotte, NC 28208, Mecklenburg County
	Leased
	No
	N/A

	SPX Flow Technology Systems, Inc.
	7024 Troy Hill Drive, Elkridge, MD 21075, Howard County
	Leased
	No
	N/A

	SPX Flow Technology Systems, Inc.
	105 Crosspoint Parkway, Getzville, NY 14068, Erie County
	Leased
	No
	N/A

	SPX Flow US, LLC
	200 Cabel Street, Louisville, KY 40206, Jefferson County
	Leased
	No
	N/A

	SPX Flow US, LLC
	1115 East Locust Street, DeKalb, IL 60115, DeKalb County
	Leased
	No
	N/A

	SPX Flow US, LLC
	1136 N. Garfield Street, Lombard, IL 60148, DuPage County
	Leased
	No
	N/A

	SPX Flow US, LLC
	5620 McKean Rd., McKean, PA 16426, Erie County
	Leased
	No
	N/A

	SPX Flow US, LLC
	E. 33rd Street, Erie, PA 16510, Erie County
	Leased
	No
	N/A

	SPX Flow US, LLC
	399 N. Prairie Ind. Pkwy, Mulberry, FL 33860, Polk County
	Leased
	No
	N/A

	SPX Flow US, LLC
	4771 Northstar Way, Modesto, CA 95356, Stanislaus County
	Leased
	No
	N/A

	SPX Flow US, LLC
	3030 Hwy 225, Pasadena, TX 77503, Harris County
	Leased
	No
	N/A

	SPX Flow US, LLC
	825 Fairview Rd., Wytheville, VA 24382-4507, Wythe County
	Leased
	No
	N/A

	SPX Flow US, LLC
	1714 Hobbs Dr., Delavan, WI 53115-1337, Walworth County
	Leased
	No
	N/A

Schedule 3.16(e)
Insurance
Separately delivered to LendersExhibit

Exhibit 10.2

SECURITY AGREEMENT

THIS SECURITY AGREEMENT, dated as of July 11, 2016 (as amended, modified, restated or supplemented from time to time, this “Security Agreement”), is by and among SPX FLOW, INC., a Delaware corporation (the “Parent Borrower”), and the other parties identified as “Grantors” on the signature pages hereto and such other parties that may become Grantors after the date hereof (together with the Parent Borrower, individually a “Grantor”, and collectively the “Grantors”) and Bank of America, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Secured Parties (as defined below).

W I T N E S S E T H

WHEREAS, the Parent Borrower, the Foreign Subsidiary Borrowers party thereto, the Lenders party thereto, Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent, and Bank of America, N.A., as Administrative Agent, entered into that certain Credit Agreement, dated as of September 1, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and

WHEREAS, this Security Agreement is required by the terms of the Credit Agreement.

NOW, THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.    Definitions. 

(a)    Capitalized terms used and not otherwise defined herein shall have the meanings provided in the Credit Agreement.

(b)    The following terms shall have the meanings set forth in the UCC (as defined below): Accession, Account, As-Extracted Collateral, Chattel Paper, Commercial Tort Claim, Consumer Goods, Deposit Account, Document, Electronic Chattel Paper, Equipment, Farm Products, Fixtures, General Intangible, Goods, Instrument, Inventory, Investment Property, Letter-of-Credit Right, Manufactured Home, Money, Proceeds, Securities Account, Securities Entitlement, Securities Intermediary, Software, Standing Timber, Supporting Obligation and Tangible Chattel Paper.

(c)    As used herein, the following terms shall have the meanings set forth below:

“Collateral” has the meaning provided in Section 2 hereof.

“Copyright License” means any written agreement providing for the grant by or to a Grantor of any right under any Copyright.

“Copyrights” means (a) all copyrights registered in the United States in all Works, now existing or hereafter created or acquired, all registrations and recordings thereof, and all applications in connection therewith, including, without limitation, registrations, recordings and applications in the United States Copyright Office or in any similar office or agency of the United States, any state thereof or political subdivision thereof, and (b) all renewals thereof.

“Obligations” means the collective reference to the unpaid principal of and interest (and premium, if any) on the Loans (including Incremental Term Loans), Reimbursement Obligations, Bilateral FCI Reimbursement Obligations and Participation FCI Reimbursement Obligations and all other obligations and liabilities of the Borrowers and the Subsidiary Guarantors (including interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans, Reimbursement Obligations, Bilateral FCI Reimbursement Obligations and Participation FCI Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Borrower or any Subsidiary Guarantor, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to any Agent or any other Secured Party, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, the other Loan Documents, any Hedging Agreement of any Borrower or any Subsidiary Guarantor with any Lender or Affiliate of a Lender or Specified Cash Management Agreement with any Lender or any Affiliate of 

any Lender, in each case whether on account of principal, interest, premium, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel to any Agent or to any other Secured Party that are required to be paid by any Borrower or any Subsidiary Guarantor pursuant to the terms of any of the foregoing agreements); provided, however, that the “Obligations” of any Borrower or any Subsidiary Guarantor shall exclude any Excluded Swap Obligations with respect to such Borrower or such Subsidiary Guarantor.

“Patent License” means any written agreement providing for the grant by or to a Grantor of any right under any Patent.

“Patents” means (a) all letters patent of the United States or any political subdivision thereof and all reissues and extensions thereof, and (b) all applications for letters patent of the United States and all divisions, continuations and continuations-in-part thereof.

“Secured Obligations” means the Obligations and the Subsidiary Obligations.

“Secured Parties” means the collective reference to the Administrative Agent, the Foreign Trade Facility Agent, the Lenders, in the case of any Hedging Agreement entered into by the Parent Borrower or any Guarantor or any Specified Cash Management Agreement, any Lender or any Affiliate of any Lender counterparty thereto, and in the case of any Subsidiary Loan Documents entered into by any Foreign Subsidiary or any Restricted Subsidiary with respect to any Subsidiary Obligations, the applicable lender or lenders party thereto.

“Subsidiary Loan Documents” means the definitive documentation governing any secured Indebtedness incurred by any Foreign Subsidiary or any Restricted Subsidiary pursuant to Section 6.2(k) or Section 6.2(r) of the Credit Agreement which has been designated by the Parent Borrower as a “Subsidiary Loan Document” by delivery to the Administrative Agent not later than 90 days after the execution and delivery thereof by such Foreign Subsidiary or Restricted Subsidiary of a Secured Party Designation Notice (as defined in the Guarantee and Collateral Agreement).

“Subsidiary Obligations” means the collective reference to the unpaid principal of and interest (and premium, if any) on any secured Indebtedness incurred by any Foreign Subsidiary or any Restricted Subsidiary pursuant to Section 6.2(k) or Section 6.2(r) of the Credit Agreement and all other obligations and liabilities of such Foreign Subsidiaries or Restricted Subsidiaries (including interest accruing at the then applicable rate provided in any Subsidiary Loan Document after the maturity of such indebtedness and such other obligations and liabilities and interest accruing at the then applicable rate in any Subsidiary Loan Document after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any such Foreign Subsidiary or Restricted Subsidiary, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, any Subsidiary Loan Documents, in each case whether on account of principal, interest, premium, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel that are required to be paid by any Foreign Subsidiary or any Restricted Subsidiary pursuant to the terms of any Subsidiary Loan Documents).

“Trademark License” means any written agreement providing for the grant by or to a Grantor of any right under any Trademark.

“Trademarks” means (a) all trademarks, trade names, corporate names, company names, business names, fictitious business names, trade dress, trade styles, service marks, logos and other source or business identifiers, and the goodwill associated therewith, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and all applications in connection therewith, whether in the United States Patent and Trademark Office or in any similar office or agency of the United States, any state thereof or any political subdivision thereof, and (b) all renewals thereof.

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York, except as such term may be used in connection with the perfection of the Collateral and then the applicable jurisdiction with respect to such affected Collateral shall apply.

“Work” means any work that is subject to copyright protection pursuant to Title 17 of the United States Code.

2.    Grant of Security Interest in the Collateral.  To secure the prompt payment and performance in full when due, whether by lapse of time, acceleration, mandatory prepayment or otherwise, of the Secured Obligations, each Grantor hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in, and a right to set off against, any and all right, title and interest of such Grantor in and to all of the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the “Collateral”):

(a)    all Accounts;

(b)    all Chattel Paper;

(c)    those Commercial Tort Claims identified on Schedule 2(c) attached hereto;

(d)    all Copyrights;

(e)    all Copyright Licenses;

(f)    all Deposit Accounts;

(g)    all Documents;

(h)    all Equipment;

(i)    all Fixtures;

(j)    all General Intangibles;

(k)    all Goods;

(l)    all Instruments;

(m)    all Inventory;

(n)    all Investment Property;

(o)    all Letter-of-Credit Rights;

(p)    all Money;

(q)    all Patents;

(r)    all Patent Licenses;

(s)    all Software;

(t)    all Supporting Obligations;

(u)    all Trademarks;

(v)    all Trademark Licenses; and

(w)    all Accessions and all Proceeds of any and all of the foregoing.

Notwithstanding anything to the contrary contained herein, the security interests granted under this Security Agreement shall not extend to, and the Collateral shall not include, any Excluded Property.

The Grantors and the Administrative Agent, on behalf of the Secured Parties, hereby acknowledge and agree that the security interest created hereby in the Collateral (x) constitutes continuing collateral security for all of the Secured Obligations, whether now existing or hereafter arising, and (y) is not and shall not be construed as an assignment of any Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks or Trademark Licenses.

3.    Representations and Warranties.  Each Grantor hereby represents and warrants to the Administrative Agent, for the benefit of the Secured Parties, that:

(a)    Ownership.  Each Grantor is the legal and beneficial owner of its Collateral and has the right to pledge, sell, assign or transfer the same.

(b)    Security Interest/Priority.  This Security Agreement creates a valid security interest in favor of the Administrative Agent, for the benefit of the Secured Parties, in the Collateral of such Grantor and, when properly perfected by filing of a UCC financing statement or filing appropriate notices with the United States Patent and Trademark Office or the United States Copyright Office, shall constitute a valid, perfected, first priority (subject to Liens permitted by Section 6.3 of the Credit Agreement (other than Sections 6.3(a), 6.3(g), 6.3(i), 6.3(j), 6.3(l) and 6.3(m) of the Credit Agreement)) security interest in such Collateral, to the extent such security interest can be perfected by filing a financing statement under the UCC or filing appropriate notices with the United States Patent and Trademark Office or the United States Copyright Office, free and clear of all Liens except for except for Liens permitted by the Credit Agreement. 

(c)    Types of Collateral.  None of the Collateral consists of, or is the Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products, Manufactured Homes, or Standing Timber.

(d)    Accounts.  (i) Each Account of the Grantors and the papers and documents relating thereto are genuine and in all material respects what they purport to be, (ii) each Account arises out of (A) a bona fide sale of goods sold and delivered by such Grantor (or is in the process of being delivered) or (B) services theretofore actually rendered by such Grantor to, the account debtor named therein, (iii) no surety bond was required or given in connection with any Account of a Grantor or the contracts or purchase orders out of which they arose, and (iv) the right to receive payment under each Account is assignable.

(e)    Equipment and Inventory.  With respect to any Equipment and/or Inventory of a Grantor, each such Grantor has exclusive possession and control of such Equipment and Inventory of such Grantor except for (i) Equipment leased by such Grantor as a lessee or (ii) Equipment or Inventory in transit with common carriers.  No Inventory of a Grantor is held by a Person other than a Grantor pursuant to consignment, sale or return, sale on approval or similar arrangement.

(f)    Contracts; Agreements; Licenses.  No Grantor is a party to any material contracts, agreements or licenses which are non-assignable by their terms, or as a matter of law, or which prevent the granting of a security interest therein.

(g)    Consents, etc.  Except for (i) the filing or recording of UCC financing statements, (ii) the filing of appropriate notices with the United States Patent and Trademark Office and the United States Copyright Office, and (iii) consents, authorizations, filings or other actions which have been obtained or made, no consent or authorization of, filing with, or other act by or in respect of, any arbitrator or Governmental Authority and no consent of any other Person (including, without limitation, any stockholder, member or creditor of such Grantor), is required for (A) the grant by such Grantor of the security interest in the Collateral granted hereby or for the execution, delivery or performance of this Security Agreement by such Grantor, (B) the perfection of such security interest (to the extent such security interest can be perfected by filing under the UCC or by filing an appropriate notice with the United States Patent and Trademark Office or the United States Copyright Office) or (C) the exercise by the Administrative Agent or the Secured Parties of the rights and remedies provided for in this Security Agreement.

(h)    Commercial Tort Claims.  As of the First Amendment Effective Date, no Grantor has any Commercial Tort Claims seeking damages in excess of $1,000,000 other than those listed on Schedule 2(c).

(i)    Grantor Information.  Set forth on Schedule 3(i) hereto is a complete and accurate list, as of the First Amendment Effective Date, of each Grantor’s (i) exact legal name, (ii) former legal names in the four (4) months prior to the date hereof, if any, (iii) jurisdiction of incorporation or organization, as applicable, (iv) type of organization, (v) jurisdictions in which it is qualified to do business, (vi) chief executive office address, (vii) principal place of business address, (viii) U.S. federal taxpayer identification number, and (ix) organization identification number.  Other than as set 

forth on Schedule 3(i) hereto, no Grantor has been party to a merger, consolidation or other change in structure or used any trade name in the prior five (5) years.

4.    Covenants.  Each Grantor covenants that until termination of the Domestic Revolving Commitments, the Global Revolving Commitments, the Participation FCI Commitments, the Bilateral FCI Issuing Commitments and the Participation FCI Issuing Commitments and payment in full of all Secured Obligations (other than contingent indemnification obligations) and the expiration (without any pending drawing) or termination (or cash collateralization or provision of other credit support as contemplated by the Credit Agreement) of all Letters of Credit and FCIs, such Grantor shall:

(a)    Filing of Financing Statements, Notices, etc.  Execute and deliver to the Administrative Agent such agreements, assignments or instruments (including affidavits, notices, reaffirmations and amendments and restatements of existing documents, as the Administrative Agent may reasonably request) and do all such other things as the Administrative Agent may reasonably deem necessary or appropriate (i) to assure to the Administrative Agent its security interests hereunder, including (A) such instruments as the Administrative Agent may from time to time reasonably request in order to perfect and maintain the security interests to the extent granted hereunder in accordance with the UCC, (B) with regard to Copyrights, a Notice of Grant of Security Interest in Copyrights for filing with the United States Copyright Office in the form of Exhibit 4(a)(i), (C) with regard to Patents, a Notice of Grant of Security Interest in Patents for filing with the United States Patent and Trademark Office in the form of Exhibit 4(a)(ii) hereto and (D) with regard to Trademarks, a Notice of Grant of Security Interest in Trademarks for filing with the United States Patent and Trademark Office in the form of Exhibit 4(a)(iii) hereto, (ii) to consummate the transactions contemplated hereby and (iii) to otherwise protect and assure the Administrative Agent of its rights and interests hereunder.  Furthermore, each Grantor also hereby irrevocably makes, constitutes and appoints the Administrative Agent, its nominee or any other person whom the Administrative Agent may reasonably designate, as such Grantor’s attorney in fact with full power and for the limited purpose to sign in the name of such Grantor any financing statements, or amendments and supplements to financing statements, renewal financing statements, notices or any similar documents, in each case, upon the occurrence of an Event of Default and during the continuation thereof and upon reasonable notice to the Grantors, which in the Administrative Agent’s reasonable discretion would be necessary or appropriate in order to perfect and maintain perfection of the security interests granted hereunder, such power, being coupled with an interest, being and remaining irrevocable until the termination of the Domestic Revolving Commitments, the Global Revolving Commitments, the Participation FCI Commitments, the Bilateral FCI Issuing Commitments and the Participation FCI Issuing Commitments and payment in full of all Secured Obligations (other than contingent indemnification obligations) and the expiration (without any pending drawing) or termination (or cash collateralization or provision of other credit support as contemplated by the Credit Agreement) of all Letters of Credit and FCIs.  Each Grantor hereby agrees that a carbon, photographic or other reproduction of this Security Agreement or any such financing statement is sufficient for filing as a financing statement by the Administrative Agent without notice thereof to such Grantor wherever the Administrative Agent may in its sole discretion desire to file the same.

(b)    Collateral Held by Warehouseman, Bailee, etc.  If any Collateral valued in excess of $1,000,000 is at any time in the possession or control of a warehouseman, bailee, landlord or any agent or processor of such Grantor and the Administrative Agent so requests, (i) notify such Person in writing of the Administrative Agent’s security interest therein, (ii) instruct such Person to hold all such Collateral for the Administrative Agent’s account and subject to the Administrative Agent’s instructions and (iii) use commercially reasonable efforts to obtain a written acknowledgment from such Person that it is holding such Collateral for the benefit of the Administrative Agent.

(c)    Treatment of Accounts.  Not grant or extend the time for payment of any Account, or compromise or settle any Account for less than the full amount thereof, or release any person or property, in whole or in part, from payment thereof, or allow any credit or discount thereon, other than as normal and customary in the ordinary course of a Grantor’s business.

(d)    Commercial Tort Claims.  (i) Promptly forward to the Administrative Agent an updated Schedule 2(c) listing any and all Commercial Tort Claims initiated by or in favor of such Grantor seeking damages in excess of $1,000,000 and (ii) execute and deliver such statements, documents and notices and do and cause to be done all such things as may be reasonably required by the Administrative Agent, or required by law to create, preserve, perfect and maintain the Administrative Agent’s security interest in any such Commercial Tort Claims.

(e)    Nature of Collateral.  At all times maintain the Collateral as personal property and not affix any of the Collateral to any real property in a manner which would change its nature from personal property to real property or a Fixture to real property, unless the Administrative Agent shall have a perfected Lien on such Fixture or real property.

5.    Authorization to File Financing Statements.  Each Grantor hereby authorizes the Administrative Agent to prepare and file such financing statements (including continuation statements) or amendments thereof or supplements thereto or other instruments as the Administrative Agent may from time to time deem necessary or appropriate in order to perfect and maintain the security interests granted hereunder in accordance with the UCC (including authorization to describe the Collateral as “all personal property”, “all assets” or words of similar meaning).

6.    Advances.  (a) Upon the occurrence of an Event of Default and during the continuation thereof, or (b) on failure of any Grantor to perform any of the covenants and agreements contained herein and upon reasonable notice to the Grantors if, with respect to this clause (b), the Administrative Agent reasonably determines that the taking of a particular action is required prior to the expiration of any applicable cure period(s) in order to prevent an impairment of its rights in and to any Collateral, then, in either case, the Administrative Agent may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as the Administrative Agent may reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against any adverse claim and all other expenditures that the Administrative Agent may make for the protection of the security hereof or that may be compelled to make by operation of law.  All such sums and amounts so expended shall be repayable by the Grantors on a joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the default rate of interest pursuant to Section 2.15(c) of the Credit Agreement.  No such action by the Administrative Agent on behalf of any Grantor, and no such advance or expenditure therefor, shall relieve the Grantors of any Default or Event of Default.  The Administrative Agent may make any payment hereby authorized in accordance with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be discharged, without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by a Grantor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP.

7.    Remedies.

(a)    General Remedies.  Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment, garnishment and the rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others, with reasonable notice to the Grantors, (i) enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) without demand and without advertisement, notice, hearing or process of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for Money, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements).  Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and, notwithstanding the foregoing, agrees that such private sale shall be deemed to have been made in a commercially reasonable manner.  Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale.  To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Parent Borrower in accordance with the notice provisions of Section 9.1 of the Credit Agreement at least ten (10) days before the time of sale or other event giving rise to the requirement of such notice.  The Administrative Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.  The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given.  To the extent permitted by law, any Secured Party may be a purchaser at any such sale.  To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale.  Subject to the provisions of applicable law, the Administrative Agent may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, 

to the extent permitted by law, be made at the time and place to which the sale was postponed, or the Administrative Agent may further postpone such sale by announcement made at such time and place.

(b)    Remedies relating to Accounts.  Upon the occurrence of an Event of Default and during the continuation thereof, whether or not the Administrative Agent has exercised any or all of its rights and remedies hereunder, (i) each Grantor will promptly upon request of the Administrative Agent instruct all account debtors to remit all payments in respect of Accounts to a mailing location selected by the Administrative Agent and (ii) the Administrative Agent shall have the right to enforce any Grantor’s rights against its customers and account debtors, and the Administrative Agent or its designee may notify (or require any Grantor to notify) any Grantor’s customers and account debtors that the Accounts of such Grantor have been assigned to the Administrative Agent or of the Administrative Agent’s security interest therein, and may (either in its own name or in the name of a Grantor or both) demand, collect (including without limitation by way of a lockbox arrangement), receive, take receipt for, sell, sue for, compound, settle, compromise and give acquittance for any and all amounts due or to become due on any Account, and, in the Administrative Agent’s discretion, file any claim or take any other action or proceeding to protect and realize upon the security interest of the Secured Parties in the Accounts.  The Administrative Agent and the Secured Parties shall have no liability or responsibility to any Grantor for acceptance of a check, draft or other order for payment of money bearing the legend “payment in full” or words of similar import or any other restrictive legend or endorsement or be responsible for determining the correctness of any remittance.  Furthermore, upon the occurrence of an Event of Default and during the continuation thereof, (x) the Administrative Agent shall have the right, but not the obligation, to make test verifications of the Accounts in any manner and through any medium that it reasonably considers advisable, and the Grantors shall furnish all such assistance and information as the Administrative Agent may require in connection with such test verifications, (y) upon the Administrative Agent’s request and at the expense of the Grantors, the Grantors shall furnish to the Administrative Agent reports showing reconciliations, aging and test verifications of, and trial balances for, the Accounts and (z) the Administrative Agent in its own name or in the name of others may communicate with account debtors on the Accounts to verify with them to the Administrative Agent’s satisfaction the existence, amount and terms of any Accounts.

(c)    Deposit Accounts.  Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent may prevent withdrawals or other dispositions of funds in Deposit Accounts maintained with the Administrative Agent.

(d)    Access.  In addition to the rights and remedies hereunder, upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent shall have the right, upon reasonable notice to the Grantors, to enter and remain upon the various premises of the Grantors without cost or charge to the Administrative Agent, and use the same, together with materials, supplies, books and records of the Grantors for the purpose of collecting and liquidating the Collateral, or for preparing for sale and conducting the sale of the Collateral, whether by foreclosure, auction or otherwise.  In addition, the Administrative Agent may remove Collateral, or any part thereof, from such premises and/or any records with respect thereto, in order to effectively collect or liquidate such Collateral.

(e)    Nonexclusive Nature of Remedies.  Failure by the Administrative Agent or the Secured Parties to exercise any right, remedy or option under this Security Agreement, any other Loan Document, any other documents relating to the Secured Obligations, or as provided by law, or any delay by the Administrative Agent or the Secured Parties in exercising the same, shall not operate as a waiver of any such right, remedy or option.  No waiver hereunder shall be effective unless it is in writing, signed by the party against whom such waiver is sought to be enforced and then only to the extent specifically stated, which in the case of the Administrative Agent or the Secured Parties shall only be granted as provided herein.  To the extent permitted by law, neither the Administrative Agent, the Secured Parties, nor any party acting as attorney for the Administrative Agent or the Secured Parties, shall be liable hereunder for any acts or omissions or for any error of judgment or mistake of fact or law other than their gross negligence or willful misconduct hereunder.  The rights and remedies of the Administrative Agent and the Secured Parties under this Security Agreement shall be cumulative and not exclusive of any other right or remedy that the Administrative Agent or the Secured Parties may have.

(f)    Retention of Collateral.  To the extent permitted under applicable law, in addition to the rights and remedies hereunder, upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations.  Unless and until the Administrative Agent shall have provided such notices, however, the Administrative Agent shall not be deemed to have accepted or retained any Collateral in satisfaction of any Secured Obligations for any reason.

(g)    Deficiency.  In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Secured Parties are legally entitled, the Grantors shall be jointly 

and severally liable for the deficiency, together with interest thereon at the default rate of interest pursuant to Section 2.15(c) of the Credit Agreement, and costs of collection and the fees, charges and disbursements of counsel.  Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Grantors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto.

8.    Rights of the Administrative Agent.

(a)    Power of Attorney.  In addition to other powers of attorney contained herein, each Grantor hereby designates and appoints the Administrative Agent, on behalf of the Secured Parties, and each of its designees or agents, as attorney-in-fact of such Grantor, irrevocably and with power of substitution, with authority to take any or all of the following actions solely upon the occurrence of an Event of Default and during the continuation thereof:

(i)    to demand, collect, settle, compromise, adjust and give discharges and releases concerning the Collateral, all as the Administrative Agent may reasonably deem appropriate;

(ii)    to commence and prosecute any actions at any court for the purposes of collecting the Collateral and enforcing any other right in respect thereof;

(iii)    to defend, settle or compromise any action, suit or proceeding brought and, in connection therewith, give such discharge or release as the Administrative Agent may reasonably deem appropriate;

(iv)    to receive and open payment remittances and endorse checks, notes, drafts, acceptances, money orders, bills of lading, warehouse receipts or other instruments or documents evidencing payment, shipment or storage of the goods giving rise to the Collateral on behalf of and in the name of such Grantor, or securing, or relating to such Collateral;

(v)    to pay or discharge taxes, liens, security interests or other encumbrances levied or placed on or threatened against the Collateral;

(vi)    to direct any parties liable for any payment in connection with any of the Collateral to make payment of any and all monies due and to become due thereunder directly to the Administrative Agent or as the Administrative Agent shall direct;

(vii)    to receive payment of and receipt for any and all monies, claims, and other amounts due and to become due at any time in respect of or arising out of any Collateral;

(viii)    to sell, assign, transfer, make any agreement in respect of, or otherwise deal with or exercise rights in respect of, any Collateral or the goods or services that have given rise thereto, as fully and completely as though the Administrative Agent were the absolute owner thereof for all purposes;

(ix)    to adjust and settle claims under any insurance policy relating thereto;

(x)    to execute and deliver all assignments, conveyances, statements, financing statements, renewal financing statements, security and pledge agreements, affidavits, notices and other agreements, instruments and documents that the Administrative Agent may determine necessary in order to perfect and maintain the security interests and liens granted in this Security Agreement and in order to fully consummate all of the transactions contemplated therein;

(xi)    to institute any foreclosure proceedings that the Administrative Agent may reasonably deem appropriate;

(xii)    to sign and endorse any drafts, assignments, verifications, notices and other documents relating to the Collateral; and

(xiii)    to do and perform all such other acts and things as the Administrative Agent may reasonably deem appropriate in connection with the Collateral.

This power of attorney is a power coupled with an interest and shall be irrevocable until termination of the Domestic Revolving Commitments, the Global Revolving Commitments, the Participation FCI Commitments, the 

Bilateral FCI Issuing Commitments and the Participation FCI Issuing Commitments and payment in full of all Secured Obligations (other than contingent indemnification obligations) and the expiration (without any pending drawing) or termination (or cash collateralization or provision of other credit support as contemplated by the Credit Agreement) of all Letters of Credit and FCIs.  The Administrative Agent shall be under no duty to exercise or withhold the exercise of any of the rights, powers, privileges and options expressly or implicitly granted to the Administrative Agent in this Security Agreement, and shall not be liable for any failure to do so or any delay in doing so.  The Administrative Agent shall not be liable for any act or omission or for any error of judgment or any mistake of fact or law in its individual capacity or its capacity as attorney-in-fact except acts or omissions resulting from its gross negligence or willful misconduct.  This power of attorney is conferred on the Administrative Agent solely to protect, preserve and realize upon its security interest in the Collateral.

(b)    Assignment by the Administrative Agent.  The Administrative Agent may from time to time assign the Secured Obligations to a successor Administrative Agent appointed in accordance with the Credit Agreement, and such successor shall be entitled to all of the rights and remedies of the Administrative Agent under this Security Agreement in relation thereto.

(c)    The Administrative Agent’s Duty of Care.  Other than the exercise of reasonable care to assure the safe custody of the Collateral while being held by the Administrative Agent hereunder, the Administrative Agent shall have no duty or liability to preserve rights pertaining thereto, it being understood and agreed that the Grantors shall be responsible for preservation of all rights in the Collateral, and the Administrative Agent shall be relieved of all responsibility for the Collateral upon surrendering it or tendering the surrender of it to the Grantors.  The Administrative Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own property, which shall be no less than the treatment employed by a reasonable and prudent agent in the industry, it being understood that the Administrative Agent shall not have responsibility for taking any necessary steps to preserve rights against any parties with respect to any of the Collateral.  In the event of a public or private sale of Collateral pursuant to Section 7 hereof, the Administrative Agent shall have no responsibility for (i) ascertaining or taking action with respect to any matters relating to any Collateral, whether or not the Administrative Agent has or is deemed to have knowledge of such matters, or (ii) taking any steps to clean, repair or otherwise prepare the Collateral for sale, in each case, unless the failure to do so would not be commercially reasonable.

(d)    Liability with Respect to Accounts.  Anything herein to the contrary notwithstanding, each of the Grantors shall remain liable under each of the Accounts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account.  Neither the Administrative Agent nor any holder of Secured Obligations shall have any obligation or liability under any Account (or any agreement giving rise thereto) by reason of or arising out of this Security Agreement or the receipt by the Administrative Agent or any holder of Secured Obligations of any payment relating to such Account pursuant hereto, nor shall the Administrative Agent or any holder of Secured Obligations be obligated in any manner to perform any of the obligations of a Grantor under or pursuant to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto), to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.

(e)    Releases of Collateral.  If any Collateral shall be Disposed of by any Grantor in a transaction permitted by the Credit Agreement, then the Liens created hereby on such Collateral shall be automatically released and the Administrative Agent, at the request and sole expense of such Grantor, shall execute and deliver to such Grantor all releases and other documents, and take such other actions, reasonably necessary or desirable to evidence the release of the Liens on such Collateral.  If any Grantor ceases to be a Wholly Owned Subsidiary pursuant to a transaction expressly permitted by the Credit Agreement and if, as a result of such transaction, the Parent Borrower and its Restricted Subsidiaries own less than 75% of the outstanding voting Capital Stock of such Grantor, then such Grantor shall be automatically released from its obligations hereunder and the Administrative Agent, at the request and sole expense of the Parent Borrower, shall execute and deliver all releases and other documents, and take such other actions, reasonably necessary or desirable to evidence the release of such Grantor.

9.    Application of Proceeds.  Upon the acceleration of the Obligations pursuant to Article VIII of the Credit Agreement, any payments in respect of the Secured Obligations and any proceeds of the Collateral, when received by the Administrative Agent or any Secured Party in Money, will be applied in reduction of the Secured Obligations in the order set forth in Section 6.3 of the Guarantee and Collateral Agreement.

10.    Continuing Agreement.

(a)    This Security Agreement shall remain in full force and effect until termination of the Domestic Revolving Commitments, the Global Revolving Commitments, the Participation FCI Commitments, the Bilateral FCI Issuing Commitments and the Participation FCI Issuing Commitments and payment in full of all Secured Obligations (other than contingent indemnification obligations) and the expiration (without any pending drawing) or termination (or cash collateralization or provision of other credit support as contemplated by the Credit Agreement) of all Letters of Credit and FCIs, at which time this Security Agreement shall be automatically terminated and the Liens granted hereunder shall be automatically released and the Administrative Agent shall, upon the request and at the expense of the Grantors, forthwith take such actions as are reasonably necessary to evidence the release of all of its Liens hereunder, shall return all instruments pledged hereunder and all other Collateral in its possession and shall execute and deliver all UCC termination statements and/or other documents reasonably requested by the Grantors to evidence such termination and release.

(b)    This Security Agreement shall continue to be effective or be automatically reinstated, as the case may be, if at any time payment, in whole or in part, of any of the Secured Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or the Secured Parties as a preference, fraudulent conveyance or otherwise under any debtor relief law, all as though such payment had not been made; provided that in the event payment of all or any part of the Secured Obligations is rescinded or must be restored or returned, all reasonable costs and expenses (including without limitation any reasonable legal fees and disbursements) incurred by the Administrative Agent or any Secured Party in defending and enforcing such reinstatement shall be deemed to be included as a part of the Secured Obligations.

11.    Amendments, Waivers, Modifications, etc.  This Security Agreement and the provisions hereof may not be amended, waived, modified, changed, discharged or terminated except as set forth in Section 9.2 of the Credit Agreement; provided that any update or revision to Schedule 2(c) hereof delivered by any Grantor in accordance with the terms hereof shall not constitute an amendment for purposes of this Section 11 or Section 9.2 of the Credit Agreement.

12.    Successors in Interest.  This Security Agreement shall be binding upon each Grantor, its successors and assigns and shall inure, together with the rights and remedies of the Administrative Agent and the holders of the Secured Obligations hereunder, to the benefit of the Administrative Agent and the Secured Parties and their successors and permitted assigns.

13.    Notices.  All notices required or permitted to be given under this Security Agreement shall be given as provided in Section 9.1 of the Credit Agreement.

14.    Counterparts.  This Security Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Security Agreement by facsimile or other electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Security Agreement.

15.    Headings.  The headings of the sections and subsections hereof are provided for convenience only and shall not in any way affect the meaning or construction of any provision of this Security Agreement.

16.    Governing Law; Submission to Jurisdiction; Venue; Waiver of Jury Trial.  The terms of Sections 9.9 and 9.12 of the Credit Agreement with respect to governing law, submission to jurisdiction, venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms.

17.    Severability.  If any provision of this Security Agreement is determined to be illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions.

18.    Entirety.  This Security Agreement, the other Loan Documents and the other documents relating to the Secured Obligations represent the entire agreement of the parties hereto and thereto, and supersede all prior agreements and understandings, oral or written, if any, including any commitment letters or correspondence relating to the Loan Documents, any other documents relating to the Secured Obligations, or the transactions contemplated herein and therein.

19.    Survival.  All representations and warranties of the Grantors hereunder shall survive the execution and delivery of this Security Agreement, the other Loan Documents and the other documents relating to the Secured Obligations, the delivery of the Notes and the extension of credit thereunder or in connection therewith.

20.    Other Security.  To the extent that any of the Secured Obligations are now or hereafter secured by property other than the Collateral (including, without limitation, real property and securities owned by a Grantor), or by a guarantee, endorsement or property of any other Person, then the Administrative Agent shall have the right to proceed against such other property, guarantee or endorsement upon the occurrence of an Event of Default and during the continuation thereof, and the Administrative Agent shall have the right, in its sole discretion, to determine which rights, security, liens, security interests or remedies the Administrative Agent shall at any time pursue, relinquish, subordinate, modify or take with respect thereto, without in any way modifying or affecting any of them or the Secured Obligations or any of the rights of the Administrative Agent or the Secured Parties under this Security Agreement, under any of the other Loan Documents or under any other document relating to the Secured Obligations.

21.    Joinder.  Each Subsidiary of the Parent Borrower that is required to become a party to this Security Agreement pursuant to Section 5.11 of the Credit Agreement shall become a Grantor for all purposes of this Security Agreement upon execution and delivery by such Subsidiary of a Joinder Agreement in the form of Exhibit 21 hereto.

22.    Rights of Required Lenders.  All rights of the Administrative Agent hereunder, if not exercised by the Administrative Agent, may be exercised by the Required Lenders.

[Signature Pages Follow]

Each of the parties hereto has caused a counterpart of this Security Agreement to be duly executed and delivered as of the date first above written.
GRANTORS:                    SPX FLOW, INC.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

CORPORATE PLACE LLC,
a Delaware limited liability company

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

SPX FLOW HOLDINGS, INC.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

SPX FLOW TECHNOLOGY SYSTEMS, INC.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

SPX FLOW US, LLC,
a Delaware limited liability company

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

DELANEY HOLDINGS CO.,
a Delaware corporation

By: /s/ Stephen A. Tsoris     
Name: Stephen A. Tsoris
Title: Vice President and Secretary

Accepted and agreed to as of the date first above written.

BANK OF AMERICA, N.A.,
as Administrative Agent 

By: /s/ Robert Rittelmeyer 
Name: Robert Rittelmeyer
Title: Vice President

SCHEDULE 2(c)

COMMERCIAL TORT CLAIMS

SCHEDULE 3(i)

GRANTOR INFORMATION

EXHIBIT 4(a)(i)

FORM OF NOTICE OF GRANT OF SECURITY INTEREST IN COPYRIGHTS

United States Copyright Office

Ladies and Gentlemen:

Please be advised that pursuant to the Security Agreement dated as of July 11, 2016 (as the same may be amended, modified, restated or supplemented from time to time, the “Security Agreement”) by and among the Grantors from time to time party thereto (each an “Grantor” and collectively, the “Grantors”) and Bank of America, N.A., as Administrative Agent (the “Administrative Agent”) for the Secured Parties referenced therein, the undersigned Grantor has granted a continuing security interest in and a right to set off against the copyrights and copyright applications shown on Schedule 1 to the Administrative Agent for the ratable benefit of the Secured Parties.

The undersigned Grantor and the Administrative Agent, on behalf of the Secured Parties, hereby acknowledge and agree that the security interest in the foregoing copyrights and copyright applications (i) may only be terminated in accordance with the terms of the Security Agreement and (ii) is not to be construed as an assignment of any copyright or copyright application.

Very truly yours,

__________________________________
[Grantor]

By:_______________________________
Name:
Title:

Acknowledged and Accepted:

BANK OF AMERICA, N.A., 
as Administrative Agent

By:_______________________________
Name:
Title:

EXHIBIT 4(a)(ii)

FORM OF NOTICE OF GRANT OF SECURITY INTEREST IN PATENTS

United States Patent and Trademark Office

Ladies and Gentlemen:

Please be advised that pursuant to the Security Agreement dated as of July 11, 2016 (as the same may be amended, modified, restated or supplemented from time to time, the “Security Agreement”) by and among the Grantors from time to time party thereto (each an “Grantor” and collectively, the “Grantors”) and Bank of America, N.A., as Administrative Agent (the “Administrative Agent”) for the Secured Parties referenced therein, the undersigned Grantor has granted a continuing security interest in and a right to set off against the patents and patent applications shown on Schedule 1 to the Administrative Agent for the ratable benefit of the Secured Parties.

The undersigned Grantor and the Administrative Agent, on behalf of the Secured Parties, hereby acknowledge and agree that the security interest in the foregoing patents and patent applications (i) may only be terminated in accordance with the terms of the Security Agreement and (ii) is not to be construed as an assignment of any patent or patent application.

Very truly yours,

__________________________________
[Grantor]

By:_______________________________
Name:
Title:

Acknowledged and Accepted:

BANK OF AMERICA, N.A., 
as Administrative Agent

By:_______________________________
Name:
Title:

EXHIBIT 4(a)(iii)

FORM OF NOTICE OF GRANT OF SECURITY INTEREST IN TRADEMARKS

United States Patent and Trademark Office
 
Ladies and Gentlemen:

Please be advised that pursuant to the Security Agreement dated as of July 11, 2016 (as the same may be amended, modified, restated or supplemented from time to time, the “Security Agreement”) by and among the Grantors from time to time party thereto (each an “Grantor” and collectively, the “Grantors”) and Bank of America, N.A., as Administrative Agent (the “Administrative Agent”) for the Secured Parties referenced therein, the undersigned Grantor has granted a continuing security interest in and a right to set off against the trademarks and trademark applications shown on Schedule 1 to the Administrative Agent for the ratable benefit of the Secured Parties.

The undersigned Grantor and the Administrative Agent, on behalf of the Secured Parties, hereby acknowledge and agree that the security interest in the foregoing trademarks and trademark applications (i) may only be terminated in accordance with the terms of the Security Agreement and (ii) is not to be construed as an assignment of any trademark or trademark application.

Very truly yours,

__________________________________
[Grantor]

By:_______________________________
Name:
Title:

Acknowledged and Accepted:

BANK OF AMERICA, N.A., 
as Administrative Agent

By:_______________________________
Name:
Title:

EXHIBIT 21

FORM OF JOINDER AGREEMENT

THIS JOINDER AGREEMENT (this “Agreement”), dated as of _____________, 20__, is by and between _____________________, a ___________________ (the “Subsidiary”), and BANK OF AMERICA, N.A., in its capacity as Administrative Agent under that certain Credit Agreement (as it may be amended, modified, restated or supplemented from time to time, the “Credit Agreement”), dated as of September 1, 2015, by and among SPX FLOW, INC., a Delaware corporation (the “Parent Borrower”), the Foreign Subsidiary Borrowers party thereto, the Lenders from time to time party thereto, Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent, and Bank of America, N.A., as Administrative Agent.  Capitalized terms used herein but not defined herein shall have the meanings provided in the Credit Agreement or the Security Agreement, as applicable.
The Parent Borrower is required by Section 5.11 of the Credit Agreement to cause the Subsidiary to become a “Grantor” under the Security Agreement.  Accordingly, the Subsidiary hereby agrees as follows with the Administrative Agent, for the benefit of the Secured Parties:
1.The Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the Subsidiary will be deemed to be a party to the Security Agreement, and shall have all the obligations of a “Grantor” thereunder as if it had executed the Security Agreement.  The Subsidiary hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Security Agreement.  Without limiting generality of the foregoing terms of this paragraph 1, the Subsidiary hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in, and a right of set off against any and all right, title and interest of the Subsidiary in and to the Collateral (as such term is defined in Section 2 of the Security Agreement) of the Subsidiary.
2.The Subsidiary hereby represents and warrants to the Administrative Agent, for the benefit of the Secured Parties, that:
(a)Set forth on Schedule 1 attached hereto is a complete and accurate list as of the date hereof of the Subsidiary’s (i) exact legal name, (ii) former legal names in the four (4) months prior to the date hereof, if any, (iii) jurisdiction of its incorporation or organization, as applicable, (iv) type of organization, (v) jurisdictions in which the Subsidiary is qualified to do business, (vi) chief executive office address, (vii) principal place of business address, (viii) U.S. federal taxpayer identification number, and (ix) organization identification number.  Other than as set forth on Schedule 1 attached hereto, the Subsidiary has not been party to a merger, consolidation or other change in structure or used any trade name in the prior five (5) years.
(b)As of the date hereof, the Subsidiary does not have any Commercial Tort Claims seeking damages in excess of $1,000,000 other than those listed on Schedule 2 attached hereto.
(c)    Schedule 3 attached hereto sets forth the name of, and the direct and indirect ownership interest of the Subsidiary in, each Subsidiary of the Subsidiary, as of the date hereof.
(d)    Set forth on Schedule 4 attached hereto is a list of all Intellectual Property owned by the Subsidiary as of the date hereof which is the subject of a registration or application for registration with the United States Copyright Office or the United States Patent and Trademark Office.  As of the date hereof, none of the Intellectual Property owned by the Subsidiary is subject to any licensing agreement or similar arrangement except (i) as set forth on Schedule 4 attached hereto or (ii) in the ordinary course of business.
(e)    Set forth on Schedule 5 attached hereto as of the date hereof is a list of all real property located in the United States that is owned or leased, in each case, by the Subsidiary (and, in each case, including (i) the name of the Loan Party owning (or leasing) such property, (ii) the property address, (iii) with respect to each Mortgaged Property, the number of buildings located on such property, and (iv) the city, county, state and zip code which such property is located).
(f)    As of the date hereof, Schedule 6 attached hereto lists all of the filing jurisdictions in which UCC Financing Statements are required to be filed for the Subsidiary pursuant to any Security Document (to the extent such Security Document is required to be in effect).  

3.The address and contact information of the Subsidiary for purposes of all notices and other communications is [__].

4.This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single 

contract.  Delivery of an executed counterpart of a signature page of this Agreement by fax transmission or e-mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement.

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

[signature pages follow]

IN WITNESS WHEREOF, the Subsidiary has caused this Joinder Agreement to be duly executed by an authorized officer, and the Administrative Agent has caused the same to be accepted by an authorized officer, as of the day and year first above written.
[SUBSIDIARY]
By:_______________________________
Name:    
Title:    
Acknowledged and accepted:
BANK OF AMERICA, N.A.,
as Administrative Agent
By:_______________________________
Name:    
Title:    

Schedule 1

[Subsidiary Information]

Schedule 2

[Commercial Tort Claims]

Schedule 3

[Subsidiaries]

Schedule 4

[Intellectual Property]

Schedule 5

[Owned and Leased Real Property]

Schedule 6

[UCC Filing Jurisdictions]

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