Document:

EX-10.31

 Exhibit 10.31 

 

					
	 IKB Deutsche Industriebank

Aktiengesellschaft Düsseldorf
 Mailing address:

Wilhelm-Bötzkes-Straße 1, 40474 Düsseldorf
				 Internal bank
details/branch information
  
 KD 161.153/CTo2/Beck

SID-GS 1
  

1. Copy for the collateral provider
 2. Copy for the Bank

 

 Collateral Agreement for a land charge with 

assignment of claims for restitution 
  

	
	 Collateral provider (name and address)

 
 IXYS Corporation

Bassett Street 3540
 95054 Santa Clara, California

USA
  

 Description of the land charge(s) 

 

													
			Land register/home ownership land register/register for heritable building rights
of		the Local Court of
			 Lampertheim

 
		Lampertheim
			Volume		 		Sheet no.		Plot		Sub-plot
			 		 		 16,794

 
		 		 
			Division III serial no.		and Currency		Amount		in words:
	1  		1		EUR		 766,937.82

 
		seven hundred and sixty-six thousand, nine hundred and thirty-seven euros and 82 cents
	2		2		EUR		 6,007,679.60

 
		six million seven thousand and seventy-nine euros and 60 cents
	3		 		 		 		 
			Owner of/party/ies with hereditary building right to the property subject to the land charge; if
details different from those of the collateral provider (name and address)
			 IXYS
Corporation, Bassett Street 3540, 95054 Santa Clara, California - USA
  

 The following agreements also apply to the stated land charge(s) – hereafter referred to as the “land
charge” – in addition to the regulations in the land charge document: 

 

 1. Collateral purpose 

The land charge, the assumption of personal liability and the assignment of the claims for restitution are for the purposes of 

 

	x	securing the claims to which the Bank is entitled under the loan agreement designated below, including in those cases in which the agreed term of the loan is extended. In the event that the agreement is
null and void, effectively rescinded, revoked or canceled or is ineffective or unenforceable on other grounds, then all of the Bank’s contractual and statutory claims against the borrower arising from this are secured. 

 

			
			Name of the loan agreement, if applicable name and address of the borrower, if different from the details for
the collateral provider
			 Loan 2 for EUR
6,500,000.00
 in accordance with loan agreement offer dated 3/16/2015

Borrower: IXYS Semiconductor GmbH,
 Edisonstr. 15, 68623
Lampertheim
  

 

	 ̈	securing all existing, future and contingent claims of the Bank with all its domestic and foreign branches from the banking business relationship against the collateral provider. If the latter has assumed
liability for liabilities of another customer of the Bank (e.g. as guarantor) then the land charge, the assumption of the personal liability and the assignment of the claims for restitution are only for the purposes of securing the debt following
the assumption of liability from the date that it becomes due. 

 2. Expansion of the scope of liability through assignment of the claims
for restitution of land charges with priority or equal ranking 
 (1) In the event that other land charges have priority over or equal ranking to the
land charge at present or in the future then the following are hereby assigned to the Bank: the claims for restitution of land charges and partial land charges with priority or equal ranking together with interest and ancillary rights, and the
claims for issuing of a consent for cancellation, a waiver declaration, a declaration of release of the land charge in order to secure the buyer’s debt and the claims to disbursement of the surplus proceeds in the event of recovery. In the
event that these claims for restitution on priority land charges have already been assigned elsewhere, then the claim for reassignment of these claims is itself hereby assigned. 

(2) The assignment is made upon the proviso that the Bank is also able to satisfy its claims from the land charge assigned to it upon maturity of the claim for
restitution, with this land charge also serving as further collateral for its claims in addition to the land charge stated above. The provisions in this collateral agreement shall apply accordingly to this further land charge. 

(3) The Bank shall be entitled to notify the party liable for restitution of the assignment of the claims for restitution.

 

  

	
	© 2012 Bank-Verlag GmbH 42.106 (11/12) / certified in accordance with CRR, Art. 194

  
 1 

 
 (4) In the case of certified land charges the claim for surrender of the land charge certificates and the claim
for submission of these to the Land Register for the purposes of forming partial certificates is also assigned. 
 (5) At the Bank’s request the
collateral provider will provide all declarations that are required for the purposes of asserting the claims that have been assigned above. In the event of land charge creditors with priority or equal ranking the Bank shall be entitled to obtain
information on the claims secured through these land charges. 
 3. Release of collateral 

(1) Following satisfaction of its claims secured by way of the land charge the Bank shall be obligated to release the land charge together with all interest
and other rights to the collateral provider. The Bank will transfer this collateral to a third party if it is obligated to do so. This is the case for instance if a claim for restitution of the land charge has been assigned to a third party. 

(2) Prior to complete satisfaction of its claims secured through the land charge, the Bank is already obligated to release subordinate land charges or partial
land charges if the amount of the land charge exceeds the secured claims. 
 (3) If further collateral has been provided for the claims secured through the
land charge (e.g. land charges on other pledged property, collateral assignments, assignments of claims) then in addition to its obligation to release collateral in paragraph 2, the Bank shall also be obligated to release at its discretion the land
charge or any other collateral to the relevant collateral provider in whole or in part upon request provided that the realizable value of all collateral exceeds 

110% 
 of the Bank’s secured claims on more than a merely
temporary basis. 
 (4) The Bank will consider the justified interests of the collateral provider and of the provider of additional collateral in selecting
the collateral to be released. 

 4. Insurance of the real estate subject to land charge and pledging of the claims from the insurance for
fixtures 
 (1) Unless relevant insurance has already been taken out, the collateral provider shall be obligated to insure the buildings and facilities
and all fixtures located in and on the property subject to the land charge against all hazards for which the Bank considers insurance coverage to be necessary. Insurance at the appropriate amount must be taken out in particular for fire, mains
water, hail and storm damage for the sliding replacement value wherever possible and this must be maintained for as long as the Bank is entitled to the claims secured via the land charge. If the collateral provider does not meet its obligations
despite a demand notice then the Bank may take out the insurance which it considers to be necessary under the circumstances. 
 (2) The claims from the
existing insurance for fixtures or that to be taken out in future are hereby assigned to the Bank for the aforementioned collateral purpose. The Bank shall be entitled to notify the insurance company of the pledge on behalf of the policyholder. 

5. Information and inspections 
 The Bank may demand all
information and evidence along with the surrender of documentation which it requires for administration purposes, in particular for valuation and realization of the land charge. It may also obtain such information, evidence and documentation from
authorities, insurance companies or other third parties. The Bank shall be entitled to inspect the property subject to the land charge along with the buildings and fixtures and to examine all of the documentation related to the property
subject to the land charge. The Bank shall be entitled to appoint third parties for this purpose. 
 6. Allocation of payments 

The Bank will allocate all payments to the claims secured by the land charge, unless performance is justifiably made in relation to the land charge itself in
an individual case. 

 

  
 This agreement is subject to German law.

 Place of jurisdiction: Düsseldorf 
  

			
	 Place, date,

signature of the collateral provider
	  	 Santa Clara,
April 21, 2015
  
 IXYS Corporation

 
 /s/ Nathan Zommer

                          
                                         
                     
  

 
  

			
	
Declaration of the owner(s)/party/ies with hereditary building rights, if different from the collateral provider

I/we as owner(s) of/party/ies with hereditary building rights to the property subject to a land charge consent to the above declaration, in particular I/we
agree to the assignment of the claims for restitution in accordance with section 2.
  

	
Place, date,

signature of the    

owner(s)/party/ies
 with hereditary
building rights
	 	 

  

			
	 Place, date, signature of the borrower, if different from the collateral

provider
	  	 Lampertheim, on
April 21, 2015
  
 IXYS Semiconductor GmbH

/s/ Thea Kern        /s/ Peter Ingram

                          
                                         
                      
  

  

			
	Place, date, signature of the Bank	  	 Düsseldorf,
on March 16, 2015
  
 IKB Deutsche Industriebank Aktiengesellschaft

 
 /s/ Thea Kern        /s/ Peter Ingram

                          
                                         
                      
  

 4/21/2015 

  
 2Exhibit 10.1

		
			Execution Version
		

		
			SECOND AMENDMENT TO CREDIT AGREEMENT
		

		
			THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is executed and delivered as of June 5, 2015 by and among PMC-SIERRA, INC., a Delaware corporation (“PMC” or the “Company”), PMC-SIERRA US, INC., a Delaware corporation (“PMC US”, and together with PMC, the “Borrowers” and, each a “Borrower”), Wintegra, Inc., a Delaware corporation (the “Subsidiary Guarantor”), BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”) under the Credit Agreement described below, and certain of the lenders party to the Credit Agreement. All capitalized terms used herein without definition shall have the same meanings as set forth in the Credit Agreement.
		

		
			W I T N E S S E T H:
		

		
			WHEREAS, the Borrowers, the Lenders and the Administrative Agent are party to that certain Credit Agreement, dated as of August 2, 2013 (as amended by that certain Amendment to Credit Agreement, dated as of September 3, 2014, and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”);
		

		
			WHEREAS, the Borrowers have requested the Lenders and the Administrative Agent agree to amend the “Change of Control” definition in the Credit Agreement; and
		

		
			WHEREAS, the Required Lenders and the Administrative Agent have agreed to amend the “Change of Control” definition in the Credit Agreement on the terms and conditions set forth herein.
		

		
			NOW, THEREFORE, in consideration of the foregoing premises, the terms and conditions stated herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, such parties hereby agree as follows:
		

			
	
			
				 1.
			Amendment. Subject to the satisfaction of the condition set forth in Section 2 below, the Borrower, the Required Lenders and the Administrative Agent hereby agree that Section 1.01 of the Credit Agreement is amended by deleting the following parenthetical at the end of clause (b) of the definition of “Change of Control”:

		
			“(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors)”
		

			
	
			
				 2.
			Condition of Effectiveness. This Amendment shall be deemed to have become effective as of the date hereof, but such effectiveness shall be subject to the condition precedent that the Administrative Agent shall have received executed counterparts of this Amendment duly executed and delivered by each Borrower, the Administrative Agent and the Required Lenders.

			
	
			
				 3.
			Representation and Warranties. Each Loan Party hereby represents and warrants that (i) this Amendment constitutes its legal, valid and binding obligation and is enforceable against it in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; (ii) after giving effect to this Amendment, all of the representations and warranties of each Borrower set forth in the Credit Agreement are true and correct in all material respects on and as of the date hereof (except to the extent such

		

		

		 

 

		representations or warranties specifically relate to any earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date); and (iii) after giving effect to this Amendment, no Default has occurred or is continuing.
		

		
			4.Effect on the Credit Agreement; Reaffirmation; Expenses.
		

			
	
			
				 (a)
			Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import shall mean and be a reference to the Credit Agreement, as modified hereby.

			
	
			
				 (b)
			Except as expressly set forth herein, (i) the execution, delivery and effectiveness of this Amendment shall neither operate as a waiver of any rights, power or remedy of the Agents or the Lenders under the Credit Agreement or any other documents executed in connection with the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement nor any other document executed in connection therewith and (ii) the Credit Agreement shall remain in full force and effect in accordance with its original terms.

			
	
			
				 (c)
			Each Loan Party (i) agrees that this Amendment shall not limit or diminish the obligations of such Person under, or release such Person from any obligations under, the Credit Agreement and each other Loan Document to which it is a party, (ii) confirms, ratifies and reaffirms its obligations under the Credit Agreement and each other Loan Document to which it is a party, and (iii) agrees that the Credit Agreement and each other Loan Document to which it is a party remain in full force and effect and are hereby ratified and confirmed.

			
	
			
				 (d)
			This Amendment shall constitute a “Loan Document” under and as defined in the Credit Agreement. The Borrowers agree to reimburse the Administrative Agent for all reasonable and documented, out-of-pocket costs and expenses incurred by the Administrative Agent in connection with the Amendment.

		
			5.GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN 
		

		
			ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. Without limiting the general applicability of the foregoing and the terms of the other Loan Documents to this Amendment and the parties hereto, the terms of Section 10.14, Section 10.15 and Section 10.16 of the Credit Agreement are incorporated herein by reference, mutatis mutandis.
		

		
			6.Headings. Section headings in this Amendment are included herein for 
		

		
			convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
		

		
			7.Counterparts. This Amendment may be executed by one or more of the parties 
		

		
			on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Amendment.
		

		
			[The remainder of page intentionally left blank.]
		

		
			2
		

		
			 
		

		

		

		 

		

			 

		

 

		IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						PMC-SIERRA, INC.

				
	
					
						 

					
					
						By: /s/ Gregory S. Lang

				
	
					
						 

					
					
						Name: Gregory S. Lang

				
	
					
						 

					
					
						Title: President & CEO

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						PMC-SIERRA US, INC.

				
	
					
						 

					
					
						By: /s/ Steven J. Geiser

				
	
					
						 

					
					
						Name: Steven J. Geiser 

				
	
					
						 

					
					
						Title: President

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						WINTEGRA, INC.

				
	
					
						 

					
					
						By: /s/ Alinka Flaminia

				
	
					
						 

					
					
						Name: Alinka Flaminia

				
	
					
						 

					
					
						Title: Director & Secretary

				

		
			 
		

		
			 
		

		
			[Signature Pages Continue]
		

		
			 
		

		

		

		 

		

			Signature Page to

		

		

			Second Amendment to Credit Agreement

		

		

			 

		

 

		
		

			
					
						 

					
					
						 

				
	
					
						 

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

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Erik M. Truette

				
	
					
						 

					
					
						Name: Erik M. Truette 

				
	
					
						 

					
					
						Title: Vice President 

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
						 

					
						 

				
	
					
						 

					
					
						BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ My-Linh Yoshiike

				
	
					
						 

					
					
						Name: My-Linh Yoshiike

				
	
					
						 

					
					
						Title: Vice President

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
						 

					
						 

				
	
					
						 

					
					
						Silicon Valley Bank, as a Lender 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Wendy Wong

				
	
					
						 

					
					
						Name: Wendy Wong

				
	
					
						 

					
					
						Title: VP

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
						 

					
						 

				
	
					
						 

					
					
						MUFG Union Bank N.A., as a Lender

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Raed Alfayoumi

				
	
					
						 

					
					
						Name: Raed Alfayoumi

				
	
					
						 

					
					
						Title: Director

				

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
						 

					
						 

				
	
					
						 

					
					
						Bank of the West, as a Lender 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By: /s/ Helen Huang

				
	
					
						 

					
					
						Name: Helen Huang

				
	
					
						 

					
					
						Title: Vice President

				

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		 

		

			Signature Page to

		

		

			Second Amendment to Credit Agreement

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