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citifmcthirdarrevolvingc

EXHIBIT 10.1                                                        EXECUTION VERSION              ═══════════════════════════════════════                                 $1,500,000,000             THIRD AMENDED AND RESTATED CREDIT AGREEMENT                             Dated as of May 17, 2019                                    among                                                                  FMC CORPORATION,                               as U.S. Borrower,                                                                         and                                                THE FOREIGN SUBSIDIARIES PARTY HERETO FROM TIME TO TIME,                               as Euro Borrowers,                   THE LENDERS AND ISSUING BANKS PARTY HERETO                                     and                                CITIBANK, N.A.,                            as Administrative Agent,                                                                          * * *                               CITIBANK, N.A.                                     and                            BOFA SECURITIES, INC.,                            as Joint Lead Arrangers,                                                                 BANK OF AMERICA, N.A.,                             as Syndication Agent,                                     and                                 BNP PARIBAS                                COBANK ACB                         JPMORGAN CHASE BANK, N.A.                    SUMITOMO MITSUI BANKING CORPORATION                                    and                               TD BANK, N.A.,                          as Co-Documentation Agents             ═══════════════════════════════════════                                                                                                                     

 

                               TABLE OF CONTENTS                                                                                                             PAGE   ARTICLE I   DEFINITIONS AND ACCOUNTING TERMS .................................................. 1         SECTION 1.01.     Certain Defined Terms ............................................................... 1         SECTION 1.02.     Computation of Time Periods .................................................. 29         SECTION 1.03.     Accounting Terms and Principles ............................................ 29         SECTION 1.04.     Certain Terms ........................................................................... 29         SECTION 1.05.     Divisions .................................................................................. 30   ARTICLE II  AMOUNTS AND TERMS OF THE LOANS ................................................... 30         SECTION 2.01.     The Revolving Loans ............................................................... 30         SECTION 2.02.     [Intentionally Deleted] ............................................................. 31         SECTION 2.03.     The Swing Loans ...................................................................... 31         SECTION 2.04.     The Letters of Credit ................................................................ 31         SECTION 2.05.     Fees .......................................................................................... 32         SECTION 2.06.     Reductions and Increases of the Commitments ....................... 33         SECTION 2.07.     Repayment ................................................................................ 36         SECTION 2.08.     Interest ...................................................................................... 37         SECTION 2.09.     Interest Rate Determinations .................................................... 38         SECTION 2.10.     Prepayments ............................................................................. 40         SECTION 2.11.     Payments and Computations .................................................... 41         SECTION 2.12.     Taxes ........................................................................................ 42         SECTION 2.13.     Sharing of Payments, Etc ......................................................... 47         SECTION 2.14.     Conversion or Continuation of Revolving Loans ..................... 47         SECTION 2.15.     Extension of Termination Date ................................................ 48         SECTION 2.16.     Defaulting Lender .................................................................... 51         SECTION 2.17.     Acknowledgement and Consent to Bail-In of EEA                           Financial Institutions ................................................................ 54  ARTICLE III  MAKING THE LOANS AND ISSUING THE LETTERS OF CREDIT .......... 54        SECTION 3.01.      Making the Revolving Loans ................................................... 54        SECTION 3.02.      [Intentionally Deleted] ............................................................. 56         SECTION 3.03.     Making the Swing Loans, Etc .................................................. 56         SECTION 3.04.     Issuance of Letters of Credit .................................................... 58         SECTION 3.05.     Increased Costs ......................................................................... 63         SECTION 3.06.     Illegality ................................................................................... 65                                       i                                                                                

 

            SECTION 3.07.     Reasonable Efforts to Mitigate ................................................. 65         SECTION 3.08.     Right to Replace Affected Person or Lender ............................ 65         SECTION 3.09.     Use of Proceeds ........................................................................ 66   ARTICLE IV  CONDITIONS OF LENDING ........................................................................... 67         SECTION 4.01.     Conditions Precedent to Initial Borrowing ............................... 67         SECTION 4.02.     Conditions Precedent to Each Revolving Loan                           Borrowing, Swing Loan Borrowing and Letter of Credit                           Issuance .................................................................................... 68   ARTICLE V   REPRESENTATIONS AND WARRANTIES .................................................. 69         SECTION 5.01.     Corporate Existence; Compliance with Law ............................ 69         SECTION 5.02.     Corporate Power; Authorization; Enforceable                           Obligations ............................................................................... 69         SECTION 5.03.     Financial Statements ................................................................ 70         SECTION 5.04.     Material Adverse Change ......................................................... 70         SECTION 5.05.     Litigation .................................................................................. 70         SECTION 5.06.     Taxes ........................................................................................ 70         SECTION 5.07.     Full Disclosure ......................................................................... 70         SECTION 5.08.     Investment Company Act ......................................................... 71         SECTION 5.09.     ERISA ...................................................................................... 71         SECTION 5.10.     Environmental Matters ............................................................. 71         SECTION 5.11.     Ownership of Properties; Liens ................................................ 72         SECTION 5.12.     Sanctions .................................................................................. 72         SECTION 5.13.     Anti-Corruption Laws; Anti-Money Laundering Laws ........... 72   ARTICLE VI  COVENANTS OF THE COMPANY ................................................................ 73         SECTION 6.01.     Financial Covenants ................................................................. 73         SECTION 6.02.     Reporting Covenants ................................................................ 73         SECTION 6.03.     Affirmative Covenants ............................................................. 76         SECTION 6.04.     Negative Covenants.................................................................. 77  ARTICLE VII  EVENTS OF DEFAULT ................................................................................... 80         SECTION 7.01.     Events of Default ...................................................................... 80         SECTION 7.02.     Actions in Respect of the Letters of Credit Upon Event                           of Default; L/C Cash Collateral Account; Investing of                           Amounts in the L/C Cash Collateral Account; Release ........... 82   ARTICLE VIII THE ADMINISTRATIVE AGENT .................................................................. 85         SECTION 8.01.     Authorization and Action ......................................................... 85                                       ii     

 

          SECTION 8.02.     Reliance, Etc ............................................................................ 85        SECTION 8.03.     The Agents and their Affiliates as Lenders .............................. 86        SECTION 8.04.     Lender Credit Decision ............................................................ 86        SECTION 8.05.     Indemnification ........................................................................ 86        SECTION 8.06.     Successor Administrative Agent .............................................. 86        SECTION 8.07.     No Other Duties, Etc ................................................................ 87  ARTICLE IX  MISCELLANEOUS ........................................................................................... 87        SECTION 9.01.     Amendments, Etc ..................................................................... 87        SECTION 9.02.     Notices, Etc .............................................................................. 88        SECTION 9.03.     No Waiver; Remedies .............................................................. 91        SECTION 9.04.     Costs and Expenses .................................................................. 91        SECTION 9.05.     Rights of Set-off; Payments Set Aside ..................................... 93        SECTION 9.06.     Binding Effect .......................................................................... 94        SECTION 9.07.     Assignments and Participations ............................................... 94        SECTION 9.08.     No Liability of the Issuing Banks ............................................ 99        SECTION 9.09.     Governing Law ......................................................................... 99        SECTION 9.10.     Execution in Counterparts ........................................................ 99        SECTION 9.11.     Confidentiality ........................................................................ 100        SECTION 9.12.     Submission to Jurisdiction; Service of Process ...................... 100        SECTION 9.13.     WAIVER OF JURY TRIAL .................................................. 101        SECTION 9.14.     Judgment Currency ................................................................ 101        SECTION 9.15.     European Monetary Union ..................................................... 102        SECTION 9.16.     USA PATRIOT Act ............................................................... 102        SECTION 9.17.     Continued Effectiveness ......................................................... 102        SECTION 9.18.     Entire Agreement ................................................................... 102       SECTION 9.19.      No Fiduciary Duty .................................................................. 103       SECTION 9.20.      Certain ERISA Matters .......................................................... 103  ARTICLE X   GUARANTY ................................................................................................... 104        SECTION 10.01.    Guaranty ................................................................................. 104        SECTION 10.02.    Authorization; Other Agreements .......................................... 105        SECTION 10.03.    Guaranty Absolute and Unconditional ................................... 106        SECTION 10.04.    Waivers .................................................................................. 107        SECTION 10.05.    Reliance .................................................................................. 107        SECTION 10.06.    Waiver of Subrogation and Contribution Rights .................... 108                                      iii    

 

            SECTION 10.07.    Subordination ......................................................................... 108         SECTION 10.08.    Default; Remedies .................................................................. 109         SECTION 10.09.    Irrevocability .......................................................................... 109         SECTION 10.10.    Setoff ...................................................................................... 109         SECTION 10.11.    No Marshaling ........................................................................ 109         SECTION 10.12.    Enforcement; Amendments; Waivers .................................... 109                             SCHEDULES AND EXHIBITS    SCHEDULES    Schedule I     - Commitments  Schedule II     - Material Subsidiaries   Schedule 2.04   - Existing Letters of Credit  Schedule 5.02   - Consents  Schedule 5.05   - Litigation  Schedule 5.10   - Environmental Matters  Schedule 6.04(a) - Existing Liens    EXHIBITS    Exhibit A   -  Form of Revolving Loan Note   Exhibit B-1 -  Form of Notice of Revolving Loan Borrowing   Exhibit B-2 -  Form of Notice of Conversion or Continuation   Exhibit C-1 -  Form of Assignment and Acceptance   Exhibit C-2 -  Form of Participation Agreement   Exhibit C-3 -  Form of New Commitment Acceptance   Exhibit D-1 -  Form of Euro Borrower Designation   Exhibit D-2 -  Form of Swing Loan Borrower Designation   Exhibit E   -  Form of Swing Loan Request   Exhibit F   -  Form of U.S. Tax Compliance Certificate                                        iv    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                  THIRD AMENDED AND RESTATED CREDIT AGREEMENT                THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this   “Agreement”), dated as of  May 17, 2019, among FMC CORPORATION, a Delaware   corporation (“U.S. Borrower”), the Euro Borrowers (as defined below) and the Swing Loan   Borrowers (as defined below), in each case, party hereto from time to time (the Euro Borrowers   and the Swing Loan Borrowers together with the U.S. Borrower, collectively the “Borrowers”),   the lenders and issuing banks listed on the signature pages hereof under the heading “Lenders”   and the other Lenders (as defined below) party hereto from time to time, BANK OF AMERICA,   N.A., as syndication agent (the “Syndication Agent”), BNP PARIBAS, COBANK, ACB,   JPMORGAN CHASE BANK, N.A., SUMITOMO MITSUI BANKING CORPORATION AND   TD BANK, N.A., as co-documentation agents and CITIBANK, N.A., as administrative agent (in   such capacity, the “Administrative Agent”) for the Lenders hereunder.                WHEREAS, certain of the Borrowers are party to the Second Amended and   Restated Credit Agreement, dated as of May 2, 2017, among the U.S. Borrower, as borrower, the   U.S. Borrower’s foreign subsidiaries party thereto, Citibank, N.A., as administrative agent, and   the lenders, issuing banks and other parties party thereto (as amended, supplemented or otherwise   modified prior to the date hereof, the “Existing Credit Agreement”); and                WHEREAS, the Borrowers have requested, among other things, that the Lenders  make certain changes to the Existing Credit Agreement as contained herein and amend and restate  the Existing Credit Agreement in whole, without constituting a novation.               NOW, THEREFORE, in consideration of the mutual agreements, provisions and  covenants contained herein, the parties hereto agree to amend and restate the Existing Credit  Agreement in its entirety without constituting a novation, effective on the Effective Date, as  follows:                                   ARTICLE I                     DEFINITIONS AND ACCOUNTING TERMS                SECTION 1.01.  Certain Defined Terms.  As used in this Agreement, the   following terms shall have the following meanings (such meanings to be equally applicable to   both the singular and plural forms of the terms defined):                “Acceptance” means an Assignment and Acceptance or a New Commitment   Acceptance.                “Administrative Agent” has the meaning specified in the recital of parties to this   Agreement.                “Administrative Agent’s Account” means, in respect of any Currency, such   account as the Administrative Agent shall designate in a notice to the U.S. Borrower and the   Lenders.                “Affected Person” has the meaning specified in Sections 2.12(j), 3.05(e), 3.06   and 3.08(a).          

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Affiliate” means, with respect to any Person, any other Person directly or   indirectly controlling or that is controlled by or is under common control with such Person, each   officer, director, general partner or joint-venturer of such Person, and each Person that is the   beneficial owner of 5% or more of any class of Voting Stock of such Person.  For the purposes of   this definition, “control” means the possession of the power to direct or cause the direction of the   management and policies of such Person, whether through the ownership of voting securities, by   contract or otherwise.                “Agents” means, collectively, the Administrative Agent and the Syndication   Agent.                “Alternate Currency” means any lawful currency other than Dollars (approved by   the Administrative Agent and each Lender) which is freely transferable into Dollars.                “Anniversary Date” has the meaning specified in Section 2.15(a).                “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction   applicable to any Borrower or its Subsidiaries from time to time concerning or relating to bribery   or corruption, including without limitation the Foreign Corrupt Practices Act of 1977, 15 U.S.C.  §§ 78dd-1, et seq.                “Anti-Money Laundering Laws” means all laws, rules, and regulations of any   jurisdiction applicable to any Borrower or its Subsidiaries from time to time concerning or   relating to money laundering, including without limitation the Patriot Act.                “Applicable Law” means, as to any Person, all applicable Laws binding upon   such Person or to which such a Person is subject.                “Applicable Lending Office” means, with respect to each Lender, and for each   Type and Currency of Loan, such Lender’s Domestic Lending Office in the case of a Base Rate   Loan and such Lender’s Eurocurrency Lending Office in the case of a Eurocurrency Rate Loan.                “Applicable Margin” means, as of any date, the applicable margin set forth under   the Eurocurrency Rate or Base Rate column set forth below, as applicable, based upon the Public   Debt Rating in effect on such date:              PUBLIC DEBT RATING       EUROCURRENCY        BASE RATE               S&P/MOODY’S                 RATE                  Level 1                                          0.805%           0.000%               A / A2 or higher                  Level 2                                          0.910%           0.000%                  A- / A3                  Level 3                                          1.015%           0.015%                BBB+ / Baa1                  Level 4                                          1.125%           0.125%                 BBB / Baa2                                          2     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION               PUBLIC DEBT RATING       EUROCURRENCY        BASE RATE               S&P/MOODY’S                 RATE                  Level 5                                          1.325%           0.325%                BBB- / Baa3                  Level 6                                          1.500%           0.500%              BB+ / Ba1 or lower                “Applicable Percentage” means, as of any date, the applicable percentage set   forth below under the Facility Fee column based upon the Public Debt Rating in effect on such   date:                    PUBLIC DEBT RATING         FACILITY                     S&P/MOODY’S                FEE                         Level 1                                               0.070%                     A / A2 or higher                         Level 2                                               0.090%                         A- / A3                         Level 3                                               0.110%                      BBB+ / Baa1                         Level 4                                               0.125%                       BBB / Baa2                         Level 5                                               0.175%                       BBB- / Baa3                         Level 6                                               0.250%                    BB+ / Ba1 or lower                “Arrangers” means Citibank and BofA Securities, Inc., in their respective   capacities as joint lead arrangers.                “Assignment and Acceptance” means an assignment and acceptance entered into   by a Lender and an Eligible Assignee, and accepted by the Administrative Agent, in accordance   with Section 9.07 and in substantially the form of Exhibit C-1 hereto.                “Available Amount” means, at any time, with respect to any Letter of Credit, the   maximum amount available to be drawn under such Letter of Credit at such time (assuming   compliance at such time with all conditions to drawing), provided that if any Letter of Credit   provides for future increases in the maximum amount available to be drawn under such Letter of   Credit, then the “Available Amount” of such Letter of Credit shall mean, at any time, the   maximum amount available to be drawn under such Letter of Credit after taking into account all  increases in the availability thereunder.                                          3     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Bail-In Action” means 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” means, 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.                “Base Rate” means, for any period, a fluctuating interest rate per annum as shall   be in effect from time to time which rate per annum shall at all times be equal to the highest of:                (a)   the rate of interest announced publicly by Citibank in New York, New  York, from time to time, as its “base rate”;                 (b)   the Federal Funds Rate plus 1/2 of 1%; and                (c)   Eurocurrency Rate for a one-month period plus 1%; provided that for   purposes of this clause (c), the Eurocurrency Rate shall be based on the Eurocurrency Rate at   approximately 11:00 A.M. (London time) on such day of determination, but shall otherwise be   calculated in accordance with the definition of “Eurocurrency Rate” (including the interest rate   floors set forth therein);                provided that the Base Rate shall not be less than zero.                “Base Rate Loan” means a Loan denominated in Dollars which bears interest as   provided in Section 2.08(a)(i).                “Beneficial Ownership Certificate” has the meaning specified in   Section 4.01(a)(vii).                “Beneficial Ownership Regulation” has the meaning specified in Section   4.01(a)(vii).                “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in   ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975   of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or   otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such   “employee benefit plan” or “plan”.                 “BofA” means Bank of America, N.A., a national banking association.                “Borrowers” has the meaning specified in the recital of parties to this Agreement.                “Borrowers’ Accountants” means KPMG LLP or other independent nationally-  recognized public accountants acceptable to the Administrative Agent.                “Borrowing” means a Revolving Loan Borrowing or a Swing Loan Borrowing.                                          4     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Business Day” means a day of the year on which banks are not required or   authorized by law to close in New York City and, if the applicable Business Day relates to any   Eurocurrency Rate Loans, on which dealings are carried on in the London interbank market (or,   in the case of Loans denominated in Euros, on which the Trans-European Automated Real-Time  Gross Settlement Express Transfer System (TARGET2) is open).                “Capital Lease” means, with respect to any Person, any lease of, or other   arrangement conveying the right to use, property by such Person as lessee that would be   accounted for as a capital lease, or, after giving effect to FASB ASC Topic 842, as a finance   lease, on a balance sheet of such Person prepared in conformity with GAAP.                “Capital Lease Obligations” means, with respect to any Person, the capitalized   amount of all Consolidated obligations of such Person or any of its Subsidiaries under Capital   Leases.                “Cash Collateralize” means, in respect of an obligation, to provide and pledge (as   a first priority perfected security interest) cash collateral in Dollars or in an Alternate Currency   specified by the Administrative Agent, at a location and pursuant to documentation in form and   substance reasonably satisfactory to the Administrative Agent (and “Cash Collateralization” has a   corresponding meaning).                “CGMI” means Citigroup Global Markets Inc.                “Change in Law” means the occurrence, after the date of this Agreement, of any   of the following:  (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any   change in any law, rule, regulation or treaty or in the administration, interpretation,   implementation or application thereof by any Governmental Authority or (c) the making or   issuance of any request, rule, guideline or directive (whether or not having the force of law) by   any Governmental Authority; provided that notwithstanding anything herein to the contrary,   (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules,   guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules,   guidelines or directives promulgated by the Bank for International Settlements, the Basel   Committee on Banking Supervision (or any successor or similar authority) or the United States or   foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to   be a “Change in Law”, regardless of the date enacted, adopted or issued.                 “Change of Control” means the occurrence of any of the following:  (a) any   Person or group of Persons (within the meaning of the Securities Exchange Act of 1934, as  amended) shall have acquired beneficial ownership (within the meaning of Rule 13d-3 of the SEC  under the Securities Exchange Act of 1934, as amended) of 30% or more of the issued and  outstanding Voting Stock of the U.S. Borrower or (b) during any period of twenty-four (24)  consecutive calendar months, individuals who at the beginning of such period constituted the  board of directors of the U.S. Borrower (together with any new directors whose election by the  board of directors of the U.S. Borrower or whose nomination for election by the stockholders of  the U.S. Borrower was approved by a vote of at least two-thirds of the directors then still in office  who either were directors at the beginning of such period or whose elections or nomination for  election was previously so approved) cease for any reason other than death or disability to  constitute a majority of the directors then in office.                                          5     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Citibank” means Citibank, N.A., a national banking association, and its   successors.                “Code” means the Internal Revenue Code of 1986, as amended from time to   time, and the regulations promulgated and rulings issued thereunder.                “Co-Documentation Agents” has the meaning specified in the recital of parties to   this Agreement.                “Commitment” means, as to any Lender, (i) the Dollar amount set forth opposite   its name on Schedule I hereto or (ii) if such Lender has entered into one or more Acceptances, the   amount set forth for such Lender in the Register, in each case as the same may be increased or   reduced as expressly provided herein (including, without limitation, pursuant to Sections 2.06,   2.15(c), 3.08 and 9.07).                “Confidential Information” has the meaning set forth in Section 9.11 hereto.                “Connection Income Taxes” means Other Connection Taxes that are imposed on   or measured by net income (however denominated) or that are franchise Taxes or branch profits   Taxes.                “Consolidated” refers to the consolidation of accounts of the U.S. Borrower and   its Subsidiaries in accordance with GAAP.                “Constituent Documents” means, with respect to any Person, (a) the articles of   incorporation and/or organization, certificate of incorporation or certificate of formation (or the  equivalent organizational documents) of such Person, (b) the by-laws or operating agreement (or   the equivalent governing documents) of such Person and (c) any document setting forth the   manner of election and duties of the directors or managing members of such Person (if any) and   the designation, amount or relative rights, limitations and preferences of any class or series of   such Person’s Stock.                “Contaminant” means any material, substance or waste that is classified,   regulated or otherwise characterized under any Environmental Law as hazardous, toxic, a   contaminant or a pollutant or by other words of similar meaning or regulatory effect, including   any greenhouse gas, petroleum or petroleum-derived substance or waste, asbestos and  polychlorinated biphenyls.                “Continuation”, “Continue” and “Continued” each refer to a continuation of   Eurocurrency Rate Loans for an additional Interest Period pursuant to Section 2.14.                “Contractual Obligation” means, as to any Person, any agreement, instrument or   other undertaking to which such Person is a party or by which it or any of its property is bound.                 “Conversion”, “Convert” and “Converted” each refer to a conversion of   Revolving Loans of one Type into Revolving Loans of the other Type pursuant to Section 2.14.                “CRR” means the Council Regulation (EU) No 575/2013 of the European   Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions   and investment firms and amending Regulation (EU) No 648/2012.                                         6     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Currency” means Dollars or any Alternate Currency.                “Customary Permitted Liens” means, with respect to any Person, any of the   following Liens:                  (a) Liens for taxes, assessments, governmental charges, claims or levies in  each case that are not yet due or that are being contested in good faith by appropriate proceedings  and with respect to which adequate reserves (in the good faith judgment of the management of the  respective Person) have been established;                  (b) Liens of landlords, liens in favor of utilities and liens of suppliers,  mechanics, carriers, materialmen, warehousemen or workmen and other liens imposed by law or  contract which were incurred in the ordinary course of business and (i) which secure amounts not  yet due or (ii)(A) which do not in the aggregate materially detract from the value of such property  (other than immaterial property) or materially impair the use thereof in the operation of the  business of any Person or (B) which Liens (or the amounts secured thereby) are being contested  in good faith by appropriate proceedings, which proceedings have the effect of preventing the  forfeiture or sale of the property subject to such Lien and with respect to which adequate reserves  (in the good faith judgment of the management of the respective Person) have been established;               (c)   Liens incurred or deposits made in the ordinary course of business in  connection with workers’ compensation, unemployment insurance or other types of social  security benefits or to secure the performance of trade contracts, bids, tenders, statutory and  regulatory obligations, sales, contracts (other than for the repayment of borrowed money), appeal  bonds, leases, government contracts or customs bonds and other similar obligations incurred in  the ordinary course of business;               (d)   encumbrances arising by reason of zoning restrictions, easements,  licenses, reservations, covenants, rights-of-way, utility easements, building restrictions and other  similar encumbrances on the use of real property not materially detracting from the value of such  real property or not materially interfering with the ordinary conduct of the business conducted  and proposed to be conducted at such real property;               (e)   encumbrances, easements, rights-of-way, restrictions, minor defects or  irregularities in title and other similar charges or encumbrances not interfering in any material  respect with the ordinary conduct of the business of any Person;               (f)   encumbrances arising under leases or subleases of real property that do  not, in the aggregate, materially detract from the value of such real property or interfere with the  ordinary conduct of the business conducted at such real property;                (g)   financing statements with respect to a lessor’s rights in and to personal  property leased to such Person in the ordinary course of such Person’s business;                (h)   Liens arising from judgments, decrees or attachments and Liens securing  appeal bonds arising from judgments, in each case in circumstances not constituting an Event of  Default, provided that no cash or property is deposited or delivered to secure any such judgment   or award;                                          7     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (i)   Liens on property of a Person or a business that are existing at the time  such Person or business is acquired pursuant to an acquisition not prohibited by Section 6.04(b),   provided that such Liens were not placed on such property in contemplation of the consummation   of the acquisition and do not extend to any property other than those of the Person or the business   so acquired (and proceeds and products of any of the foregoing);                (j)   Liens encumbering goods under production and arising from progress or  partial payments by the U.S. Borrower or any Subsidiary relating to the underlying goods;               (k)    Liens arising out of conditional sale, title retention, consignment or  similar arrangements for the sale of goods entered into by the U.S. Borrower or any Subsidiary in  the ordinary course of business;               (l)    Liens under ERISA to the extent the creation thereof would not breach  the representation made in Section 5.09 if made immediately after such creation;                (m)   Liens on any proceeds (including, without limitation, insurance,  condemnation and eminent domain proceeds) or products of any property, a lien over which is a  Lien permitted by Section 6.04(a); and                (n)   Liens arising solely by virtue of any statutory or common law provisions  relating to (i) banker’s liens, (ii) liens in favor of securities intermediaries and (iii) rights of set off  or similar rights and remedies as to deposit accounts or securities accounts or other funds  maintained with depository institutions or securities intermediaries, including Liens arising under  Article 24 of the general terms and conditions  of any member of the Dutch Bankers' Association  or any similar term applied by a financial institution in the Netherlands pursuant to its general  terms and conditions.                “Default” means any Event of Default or any event that would constitute an   Event of Default but for the requirement that notice be given or time elapse or both.                “Default Interest” has the meaning specified in Section 2.08(b).                “Defaulting Lender” means at any time, subject to Section 2.16(e), (i) any Lender   that has failed to comply with its obligations under this Agreement to make a Loan, make a   payment to any Issuing Bank in respect of a Letter of Credit, make a payment to any Swing Loan   Lender in respect of a Swing Loan or pay to the Administrative Agent or any other Lender any   other amount required to be paid by it hereunder (each a “Funding Obligation”) within two   Business Days of the date such Funding Obligation was required to be funded hereunder unless   such Lender notifies the Administrative Agent and the U.S. Borrower in writing that such failure   is the result of such Lender’s good faith determination that one or more conditions precedent to   funding (each of which conditions precedent, together with any applicable default, shall be   specifically identified in such writing) has not been satisfied, (ii) any Lender that has notified the   Administrative Agent, the U.S. Borrower, the Issuing Banks or the Swing Loan Lenders in  writing, or has stated publicly, that it does not intend to comply with its Funding Obligations  hereunder (unless such writing or public statement relates to such Lender’s obligation to fund a  Loan hereunder and states that such position is based on such Lender’s good faith determination  that a condition precedent to funding (which condition precedent, together with any applicable  default, shall be specifically identified in such writing or public statement) cannot be satisfied),  (iii) any Lender that has defaulted on its funding obligations under any other loan agreements or                                         8     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     credit agreements generally, (iv) any Lender that has, for three or more Business Days after   written request of the Administrative Agent or the U.S. Borrower, failed to confirm in writing to   the Administrative Agent and the U.S. Borrower that it will comply with its prospective funding   obligations hereunder (provided that such Lender will cease to be a Defaulting Lender pursuant to   this clause (iv) upon the Administrative Agent’s and the U.S. Borrower’s receipt of such written   confirmation), (v) any Lender with respect to which a Lender Insolvency Event has occurred and   is continuing with respect to such Lender or its Parent Company or (vi) any Lender that has, or   has a Parent Company that has, become the subject of a Bail-in Action (provided, in each case,   that neither the reallocation of Funding Obligations provided for in Section 2.16 as a result of a   Lender's being a Defaulting Lender nor the performance by Non-Defaulting Lenders of such  reallocated Funding Obligations will by themselves cause the relevant Defaulting Lender to  become a Non-Defaulting Lender).  Notwithstanding anything to the contrary above, any  determination by the Administrative Agent that a Lender is a Defaulting Lender under any of  clauses (i) through (v) above will be conclusive and binding absent manifest error, and such   Lender will be deemed to be a Defaulting Lender (subject to Section 2.16(e)) upon notification of   such determination by the Administrative Agent to the U.S. Borrower, the Issuing Banks, the   Swing Loan Lenders and the Lenders.                “Designated Borrower” means any Euro Borrower or Swing Loan Borrower   designated pursuant to a Euro Borrower Designation or a Swing Loan Borrower Designation,   respectively.                “Disclosure Documents” means the U.S. Borrower’s annual report on Form 10-K   for December 31, 2018 and any amendments thereto filed by the U.S. Borrower with the SEC.                “Documentary Letter of Credit” means any Letter of Credit that is drawable upon   presentation of documents evidencing the sale or shipment of goods purchased by the U.S.   Borrower or any of its Subsidiaries in the ordinary course of its business.                “Dollar Equivalent” means, with respect to any amount denominated in an   Alternate Currency, the amount of Dollars that would be required to purchase such amount of   such Alternate Currency, based upon the rate at which such Alternate Currency may be   exchanged for Dollars (x) in the case of an amount denominated in any Alternate Currency other   than Euros, in the London foreign exchange market at approximately 11:00 A.M. London time or   (y) in the case of an amount denominated in Euros, in the London foreign exchange market at   approximately 10:00 A.M. London time or, at the request of the Borrower, 11:00 A.M., Brussels   time, in each case for delivery two Business Days thereafter; provided that, solely for purposes of   calculating the amount of any fronting fee payable to any Issuing Bank pursuant to Section   2.05(b) that is otherwise calculated in Euros or the amount of any Reimbursement Obligations   owing to any Issuing Bank pursuant to Section 3.04(g) or 3.04(h) in respect of any Letter of   Credit denominated in Euros, “Dollar Equivalent” shall be the amount of Dollars that would be   required to purchase such amount of Euros, based upon the rate determined by such Issuing Bank   through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two   Business Days prior to the date as of which the foreign exchange computation is made.                “Dollar Revolving Loan” has the meaning specified in Section 2.01(a).                “Dollars” and “$” mean lawful money of the United States of America.                                          9     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Domestic Lending Office” means, with respect to any Lender, the office of such   Lender specified as its “Domestic Lending Office” in its administrative questionnaire delivered to   the Administrative Agent or in the Acceptance pursuant to which it became a Lender, or such   other office of such Lender as such Lender may from time to time specify to the U.S. Borrower   and the Administrative Agent.                “Domestic Subsidiary” means any Subsidiary of the U.S. Borrower organized   under the laws of any state of the United States of America or the District of Columbia or any   entity disregarded for U.S. tax purposes wholly owned by the U.S. Borrower or a Domestic   Subsidiary.                “Dutch Borrower” means any Borrower that is organized under the laws of the   Netherlands.                “Dutch Non-Public Lender” means:                (i) until the publication of an interpretation of “public” as referred to in the CRR   by the competent authority/ies: an entity which (x) assumes rights and/or obligations vis-à-vis a   Dutch Borrower, the value of which is at least EUR 100,000 (or its equivalent in another   currency), (y) which provides repayable funds for an initial amount of at least EUR 100,000 (or   its equivalent in another currency) or (z) otherwise qualifies as not forming part of the public),   and                (ii) as soon as the interpretation of the term “public” as referred to in the CRR   has been published by the competent authority/ies: an entity which is considered not to form part   of the public on the basis of such interpretation.                “EBITDA” means, for any period, net income for such period, plus, without   duplication and to the extent deducted from revenues in determining net income for such period,   the sum of (a) the aggregate amount of interest expense for such period, (b) the aggregate amount   of income and franchise tax expense for such period, (c) all amounts attributable to depreciation   and amortization for such period, (d) all other non-cash charges and non-cash losses for such  period, (e) all Non-Recurring Items for such period and (f) all fees, expenses and charges incurred   in connection with or arising as a result of any proposed or actual acquisitions, investments, asset   sales or divestitures, minus, without duplication and to the extent added to revenues in   determining net income for such period, the sum of (i) all non-recurring non-cash gains during   such period, (ii) the amount of cash used during such period to the extent charged against net   income in a different period (excluding any item under clause (f) above) and (iii) the amount of   cash used during such period relating to a Non-Recurring Item, all as determined on a  consolidated basis with respect to the U.S. Borrower and its Subsidiaries in accordance with  GAAP.  For the purposes of calculating EBITDA for any period, if during such period the U.S.  Borrower or any Subsidiary shall have made an acquisition, EBITDA for such period shall be   calculated after giving pro forma effect thereto as if such acquisition occurred on the first day of   such period.                “EEA Financial Institution” means (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                                          10     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     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” means any of the member states of the European Union,   Iceland, Liechtenstein, and Norway.                “EEA Resolution Authority” means 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.                “Effective Date” has the meaning set forth in Section 4.01.                “Eligible Assignee” means a Lender, any Affiliate of such Lender and any other   Person approved in writing by the Administrative Agent, the Issuing Banks, the Swing Loan   Lenders and the U.S. Borrower, to the extent such written approval is required under Section   9.07(a); provided that for the purposes of any Loan owed by a Dutch Borrower, each Eligible   Assignee shall be a Dutch Non-Public Lender; provided further, that none of the following shall   be an Eligible Assignee: (i) any natural person (or a holding company, investment vehicle or trust  for, or owned and operated for the primary benefit of, a natural person), (ii) any Borrower or any   Affiliates of such Borrower or (iii) any Defaulting Lender.                “EMU” means economic and monetary union as contemplated in the Treaty on   European Union.                “EMU Legislation” means legislative measures of the European Council for the   introduction of, changeover to or operation of a single or unified European currency (whether   known as the euro or otherwise), being in part the implementation of the third stage of EMU.                “Environmental Law” means any federal, state or local law, rule, regulation,   order, writ, judgment, injunction, decree, determination or award relating to the environment,   health, safety or hazardous materials, including, without limitation, CERCLA, the Resource   Conservation and Recovery Act, the Hazardous Materials Transportation Act, the Clean Water   Act, the Toxic Substances Control Act, the Clean Air Act, the Safe Drinking Water Act, the   Atomic Energy Act, the Federal Insecticide, Fungicide and Rodenticide Act and the Occupational   Safety and Health Act.                “Environmental Liabilities and Costs” means, with respect to any Person, all   liabilities, obligations, responsibilities, Remedial Actions, losses, damages, punitive damages,   consequential damages, treble damages, costs and expenses (including all fees, disbursements and   expenses of counsel, experts and consultants and costs of investigation and feasibility studies),   fines, penalties, sanctions and interest, whether based in contract, tort, implied or express   warranty, strict liability, criminal or civil statute and whether arising under any Environmental   Law, Permit, order or agreement with any Governmental Authority or other Person, in each case   relating to any environmental, health or safety condition or to any Release or threatened Release   and resulting from the past, present or future operations of, or ownership of property by, such   Person or any of its Subsidiaries.                “Environmental Lien” means any Lien in favor of any Governmental Authority   for Environmental Liabilities and Costs.                                          11     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “ERISA” means the Employee Retirement Income Security Act of 1974, as   amended from time to time, and the regulations promulgated and rulings issued thereunder.                “ERISA Affiliate” means any Person, trade or business (whether or not   incorporated) that, for purposes of Title IV of ERISA is a member of the U.S. Borrower’s   controlled group, or is treated as a “single employer” within the meaning of Section 414(b) or   414(c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code,   is treated as a single employer under Section 414 of the Code.                “ERISA Event” means, with respect to any Person, (a) the occurrence of a   reportable event, within the meaning of Section 4043 of ERISA, with respect to any Plan of such   Person or any of its ERISA Affiliates unless the 30-day notice requirement with respect to such   event has been waived by the PBGC; (b) the provision by the administrator of any Plan of such   Person or any of its ERISA Affiliates of a notice of intent to terminate such Plan pursuant to   Section 4041(a)(2) of ERISA with respect to a termination described in Section 4041(c)(2) of   ERISA (including any such notice with respect to a plan amendment referred to in   Section 4041(e) of ERISA); (c) the cessation of operations at a facility of such Person or any of   its ERISA Affiliates in the circumstances described in Section 4062(e) of ERISA; (d) the   withdrawal by such Person or any of its ERISA Affiliates from a Multiple Employer Plan during   a plan year for which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA;   (e) the failure by such Person or any of its ERISA Affiliates to make a payment to a Plan required   under the minimum funding standards of ERISA; (f) a determination that any Plan is in “at risk”   status (within the meaning of Section 303 of ERISA or Section 430 of the Code); or (g) the   institution by the PBGC of proceedings to terminate a Plan of such Person or any of its ERISA   Affiliates, pursuant to Section 4042 of ERISA.                “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule   published by the Loan Market Association (or any successor person), as in effect from time to   time.                “Euro” means the single currency of Participating Member States of the   European Union.                “Euro Borrower” means each of FMC Finance B.V., a company organized and   existing under the laws of the Netherlands, FMC Chemicals Netherlands B.V., a company  organized and existing under the laws of the Netherlands, and FMC Foret, S.A., a company   organized and existing under the laws of Spain, and any other Foreign Subsidiary; provided that   such other Foreign Subsidiary (i) is designated a “Euro Borrower” for purposes of this Agreement   by the U.S. Borrower in a written notice in substantially the form of Exhibit D-1 hereto (each, a   “Euro Borrower Designation” and each Euro Borrower designated thereby, a “Designated   Borrower”), (ii) is approved as a Euro Borrower by the Administrative Agent and each Lender   and (iii) joins this Agreement and the other Loan Documents pursuant to documentation  satisfactory to the Administrative Agent (including such guaranties as the Administrative Agent  may require).                “Euro Borrower Designation” has the meaning specified in the definition of   “Euro Borrower”.                “Euro Revolving Loan” has the meaning specified in Section 2.01(a).                                          12     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Eurocurrency Lending Office” means, with respect to any Lender, the office of   such Lender specified as its “Eurocurrency Lending Office” in its administrative questionnaire   delivered to the Administrative Agent or in the Acceptance pursuant to which it became a Lender   (or, if no such office is specified, its Domestic Lending Office), or such other office of such   Lender as such Lender may from time to time specify to the U.S. Borrower and the   Administrative Agent.                “Eurocurrency Liabilities” has the meaning assigned to that term in Regulation D   of the Board of Governors of the Federal Reserve System, as in effect from time to time.                “Eurocurrency Rate” means, for any Interest Period for each Eurocurrency Rate   Loan comprising part of the same Borrowing, the rate per annum appearing on Reuters Screen   LIBOR01 Page (or on any successor or substitute page of such service, or any successor to or   substitute for such service, providing rate quotations comparable to those currently provided on   such page, as determined by the Administrative Agent from time to time for purposes of  providing quotations of interest rates applicable to dollar deposits in the London interbank  market, the “Screen Rate”) as the London interbank offered rate for deposits in the applicable   currency at approximately 11:00 A.M. (London time) on the second Business Day immediately   preceding the first day of such Interest Period, for a term comparable to such Interest Period;   provided that the Eurocurrency Rate shall not be less than zero; provided further, that if the   applicable Screen Rate shall not be available at such time for such Interest Period (an “Impacted   Interest Period”) with respect to the relevant currency, then the Eurocurrency Rate shall be the   Interpolated Rate at such time, provided, further, that, if any Interpolated Rate shall be less than   zero, such rate shall be deemed to be zero for purposes of this Agreement. “Interpolated Rate”   means, at any time, the rate per annum determined by the Administrative Agent (which   determination shall be conclusive and binding absent manifest error) to be equal to the rate that   results from interpolating on a linear basis between: (a) the applicable Screen Rate for the longest   period (for which that Screen Rate is available in the relevant currency) that is shorter than the   Impacted Interest Period and (b) the Screen Rate for the shortest period (for which that Screen   Rate is available in the relevant currency) that exceeds the Impacted Interest Period, in each case,   at such time.                 “Eurocurrency Rate Loan” means a Loan denominated in Dollars or Euros which   bears interest as provided in Section 2.08(a)(iii).                “Eurocurrency Rate Reserve Percentage” of any Lender for any Interest Period   for any Eurocurrency Rate Loan means the reserve percentage applicable during such Interest   Period (or if more than one such percentage shall be so applicable, the daily average of such   percentages for those days in such Interest Period during which any such percentage shall be so   applicable) under regulations issued from time to time by the Board of Governors of the Federal   Reserve System (or any successor) for determining the maximum reserve requirement (including,   without limitation, any emergency, supplemental or other marginal reserve requirement) for such   Lender with respect to liabilities or assets consisting of or including Eurocurrency Liabilities   having a term equal to such Interest Period.                “Eurocurrency Successor Rate” has the meaning specified in Section 2.09(c).                “Eurocurrency Successor Rate Conforming Changes” means, with respect to any   proposed Eurocurrency Successor Rate, any conforming changes to the definition of Base Rate,   Interest Period, timing and frequency of determining rates and making payments of interest and                                         13     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     other administrative matters as may be appropriate, in the discretion of the Administrative Agent,   to reflect the adoption of such Eurocurrency Successor Rate and to permit the administration   thereof by the Administrative Agent in a manner substantially consistent with market practice (or,   if the Administrative Agent determines that adoption of any portion of such market practice is not   administratively feasible or that no market practice for the administration of such Eurocurrency   Successor Rate exists, in such other manner of administration as the Administrative Agent  determines in consultation with the U.S. Borrower).                “Events of Default” has the meaning specified in Section 7.01.                “Excluded Representations” means the representations and warranties set forth in   Sections 5.04 and 5.05.                “Excluded Taxes” means any of the following Taxes imposed on or with respect   to a Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes  imposed on or measured by net income (however denominated), franchise Taxes, and branch  profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the  laws of, or having its principal office or, in the case of any Lender, its applicable lending office  located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are  Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on   amounts payable to or for the account of such Lender with respect to an applicable interest in a   Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires   such interest in the Loan or Commitment (other than pursuant to an assignment request by the   Borrowers under Section 3.08) or (ii) such Lender changes its lending office, except in each case   to the extent that, pursuant to Section 2.12, amounts with respect to such Taxes were payable   either to such Lender's assignor immediately before such Lender became a party hereto or to such   Lender immediately before it changed its lending office, (c) Taxes attributable to such Recipient’s  failure to comply with Section 2.12(g) and (d) any withholding Taxes imposed under FATCA.                “Existing Credit Agreement” has the meaning specified in the recitals hereto.                “Existing Letters of Credit” means each “Letter of Credit” issued pursuant to the   terms of, and as defined in, the Existing Credit Agreement and outstanding on the Effective Date  and listed on Schedule 2.04.                “Facility” means the Commitments and the provisions herein relating to the   Revolving Loans, Swing Loans and Letters of Credit.                “Farm Credit System” means a federally chartered network of borrower-owned   lending institutions comprised of cooperatives and related service organizations regulated by the   Farm Credit Administration.                “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this   Agreement (or any amended or successor version that is substantively comparable and not   materially more onerous to comply with), any current or future regulations or official   interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code  and any fiscal or regulatory legislation, rules or practices adopted pursuant to any  intergovernmental agreement, treaty or convention among Governmental Authorities and  implementing such Sections of the Code.                                          14     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                “FDIC” means the Federal Deposit Insurance Corporation or any successor.               “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum  equal for each day during such period to the weighted average of the rates on overnight federal  funds transactions with members of the Federal Reserve System, as published for such day (or, if  such day is not a Business Day, for the next preceding Business Day) by the Federal Reserve  Bank of New York, or, if such rate is not so published for any day that is a Business Day, the  average of the quotations for such day on such transactions received by the Administrative Agent  from three federal funds brokers of recognized standing selected by it; provided that the Federal  Funds Rate shall not be less than zero.               “Fee Letter” means that certain Fee Letter in respect of the Facility, dated as of  April 24, 2019, between the U.S. Borrower and CGMI.               “Final Termination Date” means, at any time, the latest occurring Termination  Date in effect at such time.               “Financial Covenant Debt” of any Person means Indebtedness of the type  specified in clauses (a), (b), (c), (d), (e), (f), (g) and (h) of the definition of “Indebtedness”;  provided however, that (i) in the case of clause (c), such obligations shall be included in this  definition of Financial Covenant Debt only to the extent such obligations are in respect of  unreimbursed drawings under letters of credit, and (ii) that Guaranty Obligations supported by a  Letter of Credit shall not, to the extent so supported, be included in this definition of Financial  Covenant Debt.               “Fiscal Quarter” means each of the three month periods ending on March 31,  June 30, September 30 and December 31.               “Fiscal Year” means the twelve month period ending on December 31.               “FMC’s Business” means the business of developing, manufacturing and/or  selling, and providing research and development, marketing and/or other services and support for,  chemical-based and formulated products and related organic and inorganic materials and any  business reasonably related, incidental, complementary or ancillary thereto.               “Foreign Currency Equivalent” means, with respect to any amount in Dollars, the  amount of an Alternate Currency that could be purchased with such amount of Dollars using the  reciprocal of foreign exchange rate(s) specified in the definition of the term “Dollar Equivalent”,  as determined by the Administrative Agent.               “Foreign Credit Line” means a credit facility or similar credit arrangement  (including any arrangement in connection with vendor financing) made available by a financial  institution to Foreign Subsidiaries or their customers, as applicable.               “Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender that is not  a U.S. Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized  under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes.                 “Foreign Subsidiary” means any Subsidiary of the U.S. Borrower that is not a  Domestic Subsidiary.                                        15    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “GAAP” means generally accepted accounting principles in the United States of   America as in effect from time to time, except that, with respect to the determination of   compliance by the U.S. Borrower with the covenant set forth in Section 6.01, “GAAP” shall   mean such principles in the United States of America as in effect as of the date of, and used in,   the preparation of the audited financial statements of the U.S. Borrower referred to in   Section 5.03.                “Governmental Authority” means any nation, sovereign or government, any state   or other political subdivision thereof and any entity exercising executive, legislative, judicial,   regulatory, taxing or administrative functions of or pertaining to government, including any  central bank and any supra-national bodies (such as the European Union or the European Central  Bank).                “Granting Lender” has the meaning specified in Section 9.07(a).                “Guarantied Obligations” has the meaning specified in Section 10.01(a).                “Guarantor” has the meaning specified in Section 10.01(a).                “Guaranty” means the U.S. Borrower’s guaranty of the Guarantied Obligations of   the Euro Borrowers and the Swing Loan Borrowers under this Agreement as set forth in Article X   (Guaranty) hereof.                “Guaranty Obligation” means, as applied to any Person, any direct or indirect   liability, contingent or otherwise, of such Person with respect to any Indebtedness of another   Person, if the purpose or intent of such Person in incurring the Guaranty Obligation is to provide   assurance to the obligee of such Indebtedness that such Indebtedness will be paid or discharged,   or that any agreement relating thereto will be complied with, or that any holder of such   Indebtedness will be protected (in whole or in part) against loss in respect thereof, including   (a) the direct or indirect guaranty, endorsement (other than for collection or deposit in the   ordinary course of business), co-making, discounting with recourse or sale with recourse by such   Person of Indebtedness of another Person and (b) any liability of such Person for Indebtedness of   another Person through any agreement (contingent or otherwise) (i) to purchase, repurchase or   otherwise acquire such Indebtedness or any security therefor, or to provide funds for the payment   or discharge of such Indebtedness (whether in the form of a loan, advance, stock purchase, capital   contribution or otherwise), (ii) to maintain the solvency or any balance sheet item, level of  income or financial condition of another Person, (iii) to make take-or-pay or similar payments  outside of the ordinary course of business, if required, regardless of non-performance by any  other party or parties to an agreement, (iv) to purchase, sell or lease (as lessor or lessee) property,  or to purchase or sell services, primarily for the purpose of enabling the debtor to make payment  of such Indebtedness or to assure the holder of such Indebtedness against loss or (v) to supply  funds to, or in any other manner invest in, such other Person (including to pay for property or  services irrespective of whether such property is received or such services are rendered), if in the  case of any agreement described under clause (b)(i), (ii), (iii), (iv) or (v) above the primary   purpose or intent thereof is to provide assurance that Indebtedness of another Person will be paid   or discharged, that any agreement relating thereto will be complied with or that any holder of   such Indebtedness will be protected (in whole or in part) against loss in respect thereof.  The   amount of any Guaranty Obligation shall be equal to the amount of the Indebtedness so   guaranteed or otherwise supported.                                          16     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                “Hedging Contracts” means all Interest Rate Contracts, foreign exchange  contracts, currency swap or option agreements, forward contracts, commodity swap, purchase or  option agreements, other commodity price hedging arrangements, and all other similar  agreements or arrangements designed to alter the risks of any Person arising from fluctuations in  interest rates, currency values or commodity prices.               “Increasing Lender” means, in connection with any increase in the aggregate  amount of the Commitments pursuant to Section 2.06(b), a Lender whose Commitment is  increased pursuant to Section 2.06(b)(vi).               “Indebtedness” of any Person means, as of any date of determination, without  duplication (a) all indebtedness of such Person for borrowed money, (b) all obligations of such  Person evidenced by notes, bonds (other than surety and performance bonds, which are covered  in clause (c) below), debentures or similar instruments or that bear interest, (c) all reimbursement  and other obligations with respect to letters of credit, bankers’ acceptances, surety bonds and  performance bonds, whether or not matured, (d) all indebtedness for the deferred purchase price  of property or services, other than trade payables incurred in the ordinary course of business that  are not overdue, (e) all indebtedness of such Person created or arising under any conditional sale  or other title retention agreement with respect to property acquired by such Person (even though  the rights and remedies of the seller or lender under such agreement in the event of default are  limited to repossession or sale of such property), (f) all Capital Lease Obligations of such Person  and the present value of future rental payments under all synthetic leases, (g) all Guaranty  Obligations of such Person, (h) all obligations of such Person to purchase, redeem, retire, defease  or otherwise acquire for value any Stock or Stock Equivalents of such Person, valued, in the case  of redeemable preferred stock, at the greater of its voluntary liquidation preference and its  involuntary liquidation preference plus accrued and unpaid dividends, (i) all net obligations  payable by such Person in respect of Hedging Contracts of such Person and (j) all Indebtedness of  the type referred to above secured by (or for which the holder of such Indebtedness has an  existing right, contingent or otherwise, to be secured by) any Lien upon or in property (including  accounts and general intangibles) owned by such Person, even though such Person has not  assumed or become liable for the payment of such Indebtedness.               “Indemnified Party” has the meaning specified in Section 9.04(b).               “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or  with respect to any payment made by or on account of any obligation of the Borrowers under any  Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.                “Interest Coverage Ratio” means, with respect to the U.S. Borrower and its  Subsidiaries on a Consolidated basis for any period, the ratio of EBITDA for such period to Net  Consolidated Interest Expense for such period.               “Interest Income” means, for the U.S. Borrower and its Subsidiaries on a  Consolidated basis for any period, total interest income for such period on a Consolidated basis in  conformity with GAAP.               “Interest Period” means, with respect to each Eurocurrency Rate Loan, the period  commencing on the date of such Eurocurrency Rate Loan and ending one, two, three or six (or, if  requested by the U.S. Borrower and acceptable to each of the Lenders, twelve) calendar months  thereafter, as the U.S. Borrower (on its own behalf and on behalf of any other Borrower) may,                                        17    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    upon notice received by the Administrative Agent not later than 12:00 noon (New York City  time) on the third Business Day prior to the first day of such Interest Period, select; provided that:                     (i)   the U.S. Borrower may not select any Interest Period that ends       after the Final Termination Date;                     (ii) Interest Periods commencing on the same date for Revolving       Loans comprising part of the same Revolving Loan Borrowing shall be of the same       duration;                     (iii) whenever the last day of any Interest Period would otherwise       occur on a day other than a Business Day, the last day of such Interest Period shall be       extended to occur on the next succeeding Business Day, provided in the case of any        Interest Period for a Eurocurrency Rate Loan, that if such extension would cause the last        day of such Interest Period to occur in the next following calendar month, the last day of        such Interest Period shall occur on the next preceding Business Day; and                     (iv)  any Interest Period that begins on the last Business Day of a       calendar month (or on a day for which there is no numerically corresponding day in the       calendar month at the end of such Interest Period) shall end on the last Business Day of       the calendar month at the end of such Interest Period.               “Interest Rate Contracts” means all interest rate swap agreements, interest rate  cap agreements, interest rate collar agreements and interest rate insurance.               “Investment” means, with respect to any Person, (a) any purchase or other  acquisition by such Person of (i) any security issued by, (ii) a beneficial interest in any security  issued by, or (iii) any other equity ownership interest in, any other Person, (b) any purchase by  such Person of all or a significant part of the assets of a business conducted by any other Person,  or all or substantially all of the assets constituting the business of a division, branch or other unit  operation of any other Person, (c) any loan, advance (other than deposits with financial  institutions available for withdrawal on demand, prepaid expenses, accounts receivable and  similar items made or incurred in the ordinary course of business as presently conducted) or  capital contribution by such Person to any other Person, including all Indebtedness of any other  Person to such Person arising from a sale of property by such Person other than in the ordinary  course of its business, and (d) any Guaranty Obligation incurred by such Person in respect of  Indebtedness of any other Person.               “IRB Obligations” means the variable rate industrial and pollution control  revenue bonds of the U.S. Borrower that are supported by letters of credit set forth on Schedule  2.04 (Existing Letters of Credit).               “Issue” means, with respect to any Letter of Credit, to issue, extend the expiry of,  renew or increase the maximum face amount (including by deleting or reducing any scheduled  decrease in such maximum face amount) of, such Letter of Credit.  The terms “Issued” and  “Issuance” shall have a corresponding meaning               “Issuing Bank” means each Lender or Affiliate of a Lender that (a) is listed on  the signature pages hereof as an “Issuing Bank” or (b) hereafter becomes an Issuing Bank with  the approval of the Administrative Agent and the U.S. Borrower by agreeing pursuant to an                                        18    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    agreement with and in form and substance satisfactory to the Administrative Agent and the U.S.  Borrower to be bound by the terms hereof applicable to Issuing Banks.              “L/C Cash Collateral Account” has the meaning specified in Section 7.02(b).               “L/C Cash Collateral Account Collateral” has the meaning specified in Section  7.02(b).               “L/C Cash Collateral Account Investments” has the meaning specified in Section  7.02(c).               “L/C Cash Collateral Account Obligations” has the meaning specified in  Section 7.02(e)(i).               “Laws” means, collectively, all international, foreign, federal, state and local  statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial  precedents or authorities, including the interpretation or administration thereof by any  Governmental Authority charged with the enforcement, interpretation or administration thereof,  and all applicable administrative orders, directed duties, requests, licenses, authorizations and  permits of, and agreements with, any Governmental Authority, in each case whether or not  having the force of law.               “Lender Insolvency Event” shall mean that (i) a Lender or its Parent Company is  insolvent, or is generally unable to pay its debts as they become due, or admits in writing its  inability to pay its debts as they become due, or makes a general assignment for the benefit of its  creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency,  reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or  sequestrator or the like has been appointed for such Lender or its Parent Company.   Notwithstanding anything to the contrary above, a Lender will not be a Defaulting Lender solely  by virtue of the ownership or acquisition of any Stock in such Lender or its Parent Company by  any Governmental Authority.               “Lenders” means the Lenders listed on the signature pages hereof and each  Eligible Assignee that shall become a party hereto pursuant to Section 9.07 and shall include the  Swing Loan Lenders and the Issuing Banks.               “Letter of Credit” has the meaning specified in Section 2.04.               “Letter of Credit Commitment” means, as to any Issuing Bank, (i) the Dollar  amount set forth opposite its name on Schedule I hereto or (ii) such other amount as agreed to by  the Issuing Bank and the U.S. Borrower.               “Letter of Credit Loan” means a payment by an Issuing Bank of a draft drawn  under any Letter of Credit pursuant to Section 3.04 or, without duplication, a payment by a  Lender in respect thereof pursuant to Section 3.04.               “Letter of Credit Obligations” means, at any time, the aggregate of all liabilities  at such time of the U.S. Borrower and the Euro Borrowers to all Issuing Banks with respect to  Letters of Credit, whether or not any such liability is contingent, including, without duplication,                                         19    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    the sum of (a) the Reimbursement Obligations in respect of the Letters of Credit at such time and  (b) the Letter of Credit Undrawn Amounts at such time.               “Letter of Credit Reimbursement Agreement” has the meaning specified in  Section 3.04(d).               “Letter of Credit Request” has the meaning specified in Section 3.04(b).               “Letter of Credit Sub-Facility” has the meaning specified in Section 2.04.               “Letter of Credit Sublimit” means $400,000,000.               “Letter of Credit Undrawn Amounts” means, at any time, the aggregate undrawn  amount of all Letters of Credit outstanding at such time.               “Leverage Ratio” means, with respect to the U.S. Borrower and its Subsidiaries  on a Consolidated basis as of any date, the ratio of Financial Covenant Debt as of such date to  EBITDA for the last four Fiscal Quarters ending on or before such date.               “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment,  charge, deposit arrangement, encumbrance, lien (statutory or other), intellectual property license,  security interest or preference, priority or other security agreement or preferential arrangement of  any kind or nature whatsoever intended to assure payment of any Indebtedness or the  performance of any other obligation, including any conditional sale or other title retention  agreement, the interest of a lessor under a Capital Lease and any financing lease having  substantially the same economic effect as any of the foregoing, and the filing of any financing  statement under the UCC or comparable law of any jurisdiction naming the owner of the asset to  which such Lien relates as debtor.               “Loan Documents” means this Agreement, the Notes, each Letter of Credit and  each certificate, agreement or document executed by a Borrower and delivered to the  Administrative Agent or any Lender in connection with or pursuant to any of the foregoing.               “Loans” means all Revolving Loans, all Swing Loans and all Letter of Credit  Loans.               “Local Time” means, with respect to any Loan denominated, or any payment to  be made, in Dollars, New York City time, and with respect to any Loan denominated, or any  payment to be made, in an Alternate Currency, the local time in the Principal Financial Center for  such Alternate Currency.               “Margin Regulations” means, collectively, Regulations T, U and X, as from time  to time in effect, and any regulation replacing the same, of the Board of Governors of the Federal  Reserve System, or any successor thereto.                “Material Adverse Change” means a material adverse change in any of (a) the  business, condition (financial or otherwise), operations or properties of the U.S. Borrower and its  Subsidiaries taken as a whole, (b) the legality, validity or enforceability of any Loan Document,  (c) the ability of the Borrowers to repay the Obligations or to perform their respective obligations                                         20    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    under the Loan Documents or (d) the rights and remedies of the Administrative Agent or the  Lenders under the Loan Documents.               “Material Adverse Effect” means an effect that results in or causes, or could  reasonably be expected to result in or cause, a Material Adverse Change.               “Material Subsidiary” means (i) any Subsidiary of the U.S. Borrower that is a  Borrower and (ii) any Subsidiary of the U.S. Borrower from time to time in which the U.S.  Borrower has an Investment, direct or indirect, of at least $50,000,000 (excluding Investments by  such Subsidiary in other Subsidiaries in the form of Stock or Stock Equivalents), which  Subsidiaries on the Effective Date are listed on Schedule II hereto.               “Moody’s” means Moody’s Investors Service, Inc., or any successor by merger  or consolidation to its business.               “Multiemployer Plan” of any Person means a multiemployer plan, as defined in  Section 4001(a)(3) of ERISA, and which is a defined benefit plan, to which such Person or any of  its ERISA Affiliates is making or accruing an obligation to make contributions.               “Multiple Employer Plan” of any Person means a single employer plan, as  defined in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of such Person or  any of its ERISA Affiliates and at least one Person other than such Person and its ERISA  Affiliates or (b) was so maintained and in respect of which such Person or any of its ERISA  Affiliates could have liability under Section 4064 or Section 4069 of ERISA in the event such  plan has been or were to be terminated.               “Net Consolidated Interest Expense” means, for any period, Consolidated interest  expense for such period less the sum of (x) amortization of debt discount and premium for such  period and (y) Interest Income for such period.               “New Commitment Acceptance” means a New Commitment Acceptance  executed and delivered by a New Lender, and accepted by the Administrative Agent, in  accordance with Section 9.07 and in substantially the form of Exhibit C-3 hereto.               “New Lender” means, for purposes of Sections 2.06(b), 2.15(c) and 9.07(c), an  Eligible Assignee, approved by the Administrative Agent and the Issuing Banks and Swing Loan  Lenders (which approval shall not be unreasonably withheld), that the U.S. Borrower has  requested to become a Lender hereunder pursuant to said Section 2.06(b) or 2.15(c).               “Non-Consenting Lender” means any Lender that does not approve any consent,  waiver or amendment that (i) requires the approval of all affected Lenders in accordance with the  terms of Section 9.01 and (ii) has been approved by the Required Lenders.               “Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting  Lender.               “Non-Recurring Items” means, to the extent reflected in the determination of net  income for any period, provisions for restructuring, discontinued operations, special reserves or  other similar charges, including write-downs or write-offs of assets (other than write-downs  resulting from foreign currency translations).                                        21    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Note” means a Revolving Loan Note.                “Notice of Revolving Loan Borrowing” has the meaning specified in   Section 3.01(a).                “Obligations” means principal of and interest on the Loans made by each Lender   to, and the Notes held by each Lender of, each Borrower or Swing Loan Borrower and all other  amounts from time to time owing (including without limitation with respect to any Letters of  Credit) to the Lenders or the Administrative Agent by any Borrower or any Swing Loan  Borrower under this Agreement pursuant hereto, to its Euro Borrower Designation or its Swing  Loan Borrower Designation, as applicable, and under the Notes, in each case strictly in  accordance with the terms hereof.                “OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets   Control.                “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed   as a result of a present or former connection between such Recipient and the jurisdiction   imposing such Tax (other than connections arising from such Recipient having executed,   delivered, become a party to, performed its obligations under, received payments under, received   or perfected a security interest under, engaged in any other transaction pursuant to or enforced   any Loan Document, or sold or assigned an interest in any Loan or Loan Document).                “Other Taxes” means all present or future stamp, court or documentary,   intangible, recording, filing or similar Taxes that arise from any payment made under, from the   execution, delivery, performance, enforcement or registration of, from the receipt or perfection of   a security interest under, or otherwise with respect to, any Loan Document, except any such   Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an   assignment made pursuant to Section 3.08).                “Overdraft Advance Interest Rate” means the rate of interest applicable to   Overdraft Advances as set forth in the Overdraft Documents.                “Overdraft Advances” has the meaning specified in Section 3.03(f).                “Overdraft Documents” means the documents, agreements and instruments from   time to time governing the Overdraft Facility, as the same may be amended, supplemented or   otherwise modified from time to time.                “Overdraft Facility” has the meaning specified in Section 3.03(f).                “Parent Company” means, with respect to a Lender, the bank holding company   (as defined in Federal Reserve Board Regulation Y), if any, that is the direct or indirect parent of   such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a   majority of the Stock of such Lender.                “Participant Register” has the meaning specified in Section 9.07(f).                “Participating Member State” means each state so described in any EMU   Legislation.                                         22     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Participation Agreement” means a loan participation agreement in substantially   the form of Exhibit C-2 hereto.                “Patriot Act” has the meaning specified in Section 9.16.                “PBGC” means the Pension Benefit Guaranty Corporation or any successor.                “Permit” means any permit, approval, authorization, license, variance or   permission required from a Governmental Authority under an applicable Requirement of Law.                “Person” means an individual, partnership, corporation (including a business   trust), joint stock company, trust, unincorporated association, limited liability company, joint   venture or other entity, or a government or any political subdivision or agency thereof.                “Plan” means a Single Employer Plan or a Multiple Employer Plan.                “Plan Asset Regulations” means 29 CFR § 2510.3-101 et seq., as modified by   Section 3(42) of ERISA, as amended from time to time.                 “Principal Financial Center” means, in the case of any Currency, the principal   financial center of the country of issue of such Currency, as determined by the Administrative   Agent.                “property” or “properties” means any right or interest in or to property of any   kind whatsoever, whether real, personal or mixed and whether tangible or intangible.                “PTE” means a prohibited transaction class exemption issued by the U.S.   Department of Labor, as any such exemption may be amended from time to time.                “Public Debt Rating” means, as of any date, the lowest rating that has been most   recently announced by either S&P or Moody’s, as the case may be, for any class of long-term   senior unsecured, non-credit enhanced debt issued by the U.S Borrower.  For purposes of the   foregoing:                (a)   if no Public Debt Rating shall be available from either S&P or Moody’s,   the Applicable Margin and the Applicable Percentage will be set in accordance with Level 6   under the definition of “Applicable Margin” or “Applicable Percentage”, as the case may be;                 (b)   if only one of S&P and Moody’s shall have in effect a Public Debt   Rating, the Applicable Margin and the Applicable Percentage shall be determined by reference to   the available rating;                 (c)   for purposes of the definition of “Applicable Margin” or “Applicable  Percentage”, in the event the U.S. Borrower receives, at any time, (a) Public Debt Ratings that are  one ratings grade apart, for purposes of determining a rating level defined by an “or”, the   applicable rating to determine the rates or margins above shall be the higher of such Public Debt   Ratings, or (b) Public Debt Ratings that are equal to or greater than two ratings grades apart, the   applicable Public Debt Rating to determine the rates or margins above shall be the Public Debt   Rating that is one grade higher than the lowest Public Debt Rating of the Public Debt Ratings   obtained for that period of determination; and                                          23     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (d)   if any rating established by S&P or Moody’s shall be changed, such  change shall be effective as of the date on which such change is first announced publicly by the  rating agency making such change.                “Quarterly Dates” means the first Business Day of each April, July, October and   January, commencing on the first such date to occur after the Effective Date.                “Receivable” means a right to receive payment arising from the sale or lease of   goods or services by a Person to another Person.                “Receivables Transaction” means any transaction or series of transactions that   may be entered into by the U.S. Borrower or any of its Subsidiaries pursuant to which the U.S.   Borrower or any of its Subsidiaries may directly or indirectly sell, convey or otherwise transfer   Receivables to another Person, or may grant a security interest in, any Receivables of the U.S.   Borrower or any of its Subsidiaries, and any assets related thereto including, without limitation,   all collateral securing such Receivables, proceeds of such Receivables and other assets which are   customarily transferred or in respect of which security interests are customarily granted in   connection with asset securitization transactions involving Receivables.                “Recipient” means (a) the Administrative Agent, (b) any Lender or (c) any   Issuing Bank, as applicable.                “Register” has the meaning specified in Section 9.07(d).                “Reimbursement Date” has the meaning specified in Section 3.04(g).                “Reimbursement Obligations” means all matured reimbursement or repayment   obligations of the Borrowers to any Issuing Bank with respect to amounts drawn under Letters of   Credit.                “Related Party” has the meaning set forth in Section 9.04(b).                “Release” means, with respect to any Person, any release, spill, emission,   leaking, pumping, injection, deposit, disposal, discharge, dispersal, leaching or migration, in each   case, of any Contaminant into the indoor or outdoor environment or into or out of any property  owned by such Person, including the movement of Contaminants through or in the air, soil,  surface water, ground water or property.                “Remedial Action” means all actions required to (a) clean up, remove, treat or in   any other way address any Contaminant in the indoor or outdoor environment, (b) prevent the   Release or threat of Release or minimize the further Release so that a Contaminant does not   migrate or endanger or threaten to endanger public health or welfare or the indoor or outdoor   environment or (c) perform pre-remedial studies and investigations and post-remedial monitoring  and care.                “Required Lenders” means Lenders having more than 50% of the aggregate   amount of the Commitments or, if the Commitments shall have terminated, Lenders holding more  than 50% of the sum of (a) the aggregate unpaid principal amount of the Loans plus (b) the   aggregate Available Amount of all Letters of Credit (computed, in the case of Loans denominated   in an Alternate Currency and Letters of Credit denominated in Euros, as the Dollar Equivalent                                         24     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    thereof, as determined by the Administrative Agent); provided that, for purposes hereof, neither  any Borrower, nor any of its Affiliates, if a Lender, shall be included in (i) the Lenders holding  such amount of the Loans or Available Amount of Letters of Credit or having such amount of the  Commitments or (ii) determining the aggregate unpaid principal amount of the Loans or  Available Amount of Letters of Credit or the total Commitments.  For purposes of this definition,  (i) the Available Amount of each Letter of Credit and the outstanding amount of each Swing  Loan and Letter of Credit Loan shall be considered to be owed to the Lenders ratably according  to the amounts of their respective Commitments (less, in the case of any Lender which is a  Defaulting Lender as a result of a breach of its obligations under Section 3.03(c) or 3.04(b), the  amount in respect of which such Lender is in default) and (ii) the unused Commitment of any  Defaulting Lender shall be disregarded in determining Required Lenders at any time in  accordance with the second paragraph of Section 9.01.               “Requirement of Law” means, with respect to any Person, the common law and  all federal, state, local and foreign laws, rules and regulations, orders, judgments, decrees and  other determinations of any Governmental Authority or arbitrator, applicable to or binding upon  such Person or any of its property or to which such Person or any of its property is subject.               “Revolving Loan” means a Dollar Revolving Loan or a Euro Revolving Loan.               “Revolving Loan Borrowing” means a borrowing consisting of simultaneous  Revolving Loans of the same Type made by each of the Lenders pursuant to Section 2.01(a).               “Revolving Loan Note” means a promissory note of a Borrower payable to the  order of any Lender, in substantially the form of Exhibit A-1 hereto, evidencing the aggregate  indebtedness of such Borrower to such Lender resulting from the Revolving Loans made by such  Lender to such Borrower.               “Revolving Loan Outstandings” means, at any time, the then aggregate  outstanding principal amount of all Revolving Loans (which shall be, in the case of Revolving  Loans denominated in a Currency other than Dollars, the Dollar Equivalent thereof at such time).               “S&P” means S&P Global Ratings, a subsidiary of S&P Global Inc., or any  successor by merger or consolidation to its business.               “Sanctioned Country” means a country or territory that is subject or the target of  a sanctions program administered or enforced by OFAC, the European Union, Her Majesty’s  Treasury of the United Kingdom or the United Nations Security Council.               “Sanctioned Person” means a Person that is the target of Sanctions, including (A)  an agency of the government of a Sanctioned Country, (B) an organization owned or controlled  by a Sanctioned Country, (C) a Person located, organized or resident in a Sanctioned Country, to  the extent the target of Sanctions, or (D) any Person listed in any Sanctions-related list of  designated Persons maintained by OFAC, the U.S. Department of State, the European Union, Her  Majesty’s Treasury of the United Kingdom or the United Nations Security Council, or any Person  owned 50 percent or more directly or indirectly by any such Person or Persons.               “Sanctions” means economic sanctions administered or enforced by OFAC, the  U.S. Department of State, the European Union, Her Majesty’s Treasury of the United Kingdom or  the United Nations Security Council.                                        25    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 “Scheduled Unavailability Date” has the meaning specified in Section 2.09(c).                 “SEC” means the United States Securities and Exchange Commission.                “Single Employer Plan” of any Person means a single employer plan, as defined   in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of such Person or any of  its ERISA Affiliates and no Person other than such Person and its ERISA Affiliates or (b) was so  maintained and in respect of which such Person or any of its ERISA Affiliates could have liability  under Section 4069 of ERISA in the event such plan has been or were to be terminated.                “SPC” has the meaning specified in Section 9.07(a).                “Standby Letter of Credit” means any Letter of Credit that is not a Documentary   Letter of Credit.                “Stock” means shares of capital stock (whether denominated as common stock or   preferred stock), beneficial, partnership or membership interests, participations or other   equivalents (regardless of how designated) of or in a corporation, partnership, limited liability   company or equivalent entity, whether voting or non-voting.                “Stock Equivalent” means all securities convertible into or exchangeable for   Stock and all warrants, options or other rights to purchase or subscribe for any Stock, whether or   not presently convertible, exchangeable or exercisable.                “Subsidiary” of any Person means any corporation, partnership, limited liability   company, joint venture, trust or estate of which more than 50% of (a) the issued and outstanding   capital stock having ordinary voting power to elect a majority of the board of directors of such   corporation (irrespective of whether at the time capital stock of any other class or classes of such   corporation shall or might have voting power upon the occurrence of any contingency), (b) the   interest in the capital or profits of such partnership, limited liability company or joint venture or   (c) the beneficial interest in such trust or estate is at the time directly or indirectly owned or   controlled by such Person, by such Person and one or more of its other Subsidiaries or by one or   more of such Person’s other Subsidiaries.                  “Swing Loan” shall have the meaning assigned to such term in Section 2.03.                “Swing Loan Base Rate” means, for any amount in an Alternate Currency, for   any day the rate of interest per annum equal to the higher of (i) the rate of interest per annum at   which overnight deposits in the Alternate Currency, in an amount approximately equal to the   amount with respect to which such rate is being determined, would be offered for such day by the   Swing Loan Lenders’ local branches to major banks in the local market or other applicable  offshore interbank market, and (ii) the cost of funds to the Swing Loan Lenders’ local branches  with respect to such amount for such day, expressed as a rate of interest per annum.                “Swing Loan Borrower” means each of the U.S. Borrower, FMC Finance B.V.,   FMC Foret, S.A. and any other Foreign Subsidiary (i) designated a “Swing Loan Borrower” for   purposes of this Agreement by the U.S. Borrower in a written notice in substantially the form of   Exhibit D-2 hereto (each, a “Swing Loan Borrower Designation” and each Swing Loan Borrower   designated thereby, a “Designated Borrower”), (ii) accepted as same by the Administrative   Agent, the Swing Loan Lenders and each other Lender and (iii) joining this Agreement and the                                         26     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    other Loan Documents pursuant to documentation satisfactory to the Administrative Agent and  the Swing Loan Lenders.               “Swing Loan Borrower Designation” has the meaning specified in the definition  of “Swing Loan Borrower”.               “Swing Loan Borrowing” means a borrowing consisting of a Swing Loan made  by any Swing Loan Lender.               “Swing Loan Commitment” means (i) the Dollar Equivalent of the amount set  forth opposite each Swing Loan Lender’s name on Schedule I hereto or (ii) if such Lender has  entered into one or more Acceptances, the Dollar Equivalent of the amount set forth for such  Lender in the Register as being its Swing Loan Commitment; and the Swing Loan Commitments  shall, in the aggregate, not exceed the Swing Loan Sublimit, as such amount may be increased or  reduced as provided in Section 2.06 or as otherwise expressly provided in this Agreement.               “Swing Loan Lender” means each of BofA, Citibank or one or more of their  respective Affiliates, and any other Lender that agrees, with the approval of the Administrative  Agent and the U.S. Borrower, to act as a Swing Loan Lender hereunder, in each case, in its  capacity as a Swing Loan Lender hereunder.  Swing Loans shall be made by, and payments in  respect of any Swing Loan shall be made to, each applicable Swing Loan Lender ratably based on  such Swing Loan Lender’s Swing Loan Commitment.               “Swing Loan Request” shall have the meaning assigned to such term in Section  3.03(a).               “Swing Loan Sublimit” means $50,000,000.               “Syndication Agent” means BofA, as Syndication Agent.               “Taxes” means all present or future taxes, levies, imposts, duties, deductions,  withholdings (including backup withholding), assessments, fees or other charges imposed by any  Governmental Authority, including any interest, additions to tax or penalties applicable thereto.               “Termination Date” of any Lender means the date five (5) years after the  Effective Date (as the same may be extended or changed pursuant to Section 2.06(b) or 2.15) or,  if earlier, the date of termination in whole of the Commitments pursuant to the second sentence of  Section 2.06(a)(i) or pursuant to Section 7.01.               “Total Commitments” means $1,500,000,000, as such amount may be increased  or reduced as provided in Section 2.06 or as otherwise expressly provided in this Agreement.               “Total Outstandings” means, at any time, the sum of (i) the Revolving Loan  Outstandings, (ii) the Dollar Equivalent of the principal amount of the Swing Loans outstanding  at such time and (iii) the Letter of Credit Obligations outstanding at such time, provided however,  that for purposes of determining Total Outstandings at any time, the outstanding principal amount  of Swing Loans shall be deemed to be $50,000,000 unless the Administrative Agent has received  a certificate from the Swing Loan Borrowers and the Swing Loan Lenders (A) certifying the  aggregate Dollar Equivalent amount of currently outstanding Swing Loans and the maximum  amount (which shall be less than $50,000,000) that may be borrowed as Swing Loans and (B)                                        27    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     undertaking that (1) no future Swing Loans will be requested or made in excess of such maximum   amount without the provision to the Administrative Agent by the Swing Loan Borrowers and the   Swing Loan Lenders of a bring-down certification of the aggregate amount of outstanding Swing   Loans and a different maximum amount (which shall be less than $50,000,000) that may be  borrowed as Swing Loans, in which case the outstanding principal amount of the Swing Loans  shall be deemed to be the amount set forth in the foregoing certificate or bring-down certificate,  as applicable, and (2) the Swing Loan Lenders shall not change their conversion rates with  respect to the Alternate Currencies on which the Swing Loans are denominated without providing  written notice to the Administrative Agent.                “Treaty on European Union” means the Treaty of Rome of March 25, 1957, as   amended by the Single European Act 1986 and the Maastricht Treaty (which was signed at   Maastricht on February 7, 1992, and came into force on November 1, 1993), as amended from   time to time.                “Type” means a Base Rate Loan or a Eurocurrency Rate Loan.                “UCC” has the meaning specified in Section 7.02(e)(ii).                “Unused Commitments” means, at any time, the aggregate amount of the   Commitments then unused and outstanding after deducting the Total Outstandings.                “U.S. Borrower” has the meaning specified in the recital of parties to this   Agreement.                “U.S. Person” means any Person that is a “United States Person” as defined in   Section 7701(a)(30) of the Code.                “Voting Stock” means capital stock issued by a corporation or equivalent   interests in any other Person, the holders of which are ordinarily, in the absence of contingencies,   entitled to vote for the election of directors (or persons performing similar functions) of such   Person, even though the right to so vote has been suspended by the happening of such   contingency.                “Wholly-Owned Subsidiary” of any Person means any Subsidiary of such Person   100% of the Voting Stock of which (other than directors’ qualifying shares or other shares held to   satisfy legal or regulatory requirements) are directly or indirectly owned by such Person, or by   one or more Wholly-Owned Subsidiaries of such Person, or by such Person and one or more   Wholly-Owned Subsidiaries of such Person.                “Withdrawal Liability” has the meaning specified in Part 1 of Subtitle E of   Title IV of ERISA.                “Withholding Agent” means the Borrowers and the Administrative Agent.                “Write-Down and Conversion Powers” means, 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.                                          28     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 SECTION 1.02.  Computation of Time Periods.  In this Agreement in the   computation of periods of time from a specified date to a later specified date, the word “from”   means “from and including” and the words “to” and “until” each means “to but excluding” and   the word “through” means “to and including.”                SECTION 1.03.  Accounting Terms and Principles.                  (a)   Except as set forth below, all accounting terms not specifically defined  herein shall be construed in conformity with GAAP and all accounting determinations required to  be made pursuant hereto (including for purpose of measuring compliance with Section 6.01 shall,   unless expressly otherwise provided herein, be made in conformity with GAAP.                (b)   If any change in the accounting principles used in the preparation of the  most recent Financial Statements referred to in Section 6.02(a) is hereafter required or permitted   by the rules, regulations, pronouncements and opinions of the Financial Accounting Standards   Board or the American Institute of Certified Public Accountants (or any successors thereto) and   such change is adopted by the U.S. Borrower with the agreement of the Borrowers’ Accountants   and results in a change in any of the calculations required by Article V (Representations and   Warranties) or Section 6.01 had such accounting change not occurred, for purposes of the   calculation of such covenants and the definitions related thereto, such calculation shall be made   using GAAP as used by the U.S. Borrower in its December 31, 2018 financial statements.                 (c)   Notwithstanding any other provision contained herein, all terms of an  accounting or financial nature used herein shall be construed and all computations of amounts and  ratios referred to in Article VI (Covenants of the Company) shall be made, without giving effect   to any election under Accounting Standards Codification 825-10 (or any other Financial   Accounting Standard having a similar result or effect) to value any Indebtedness or other   liabilities of any Borrower or any Subsidiary of any Borrower at “fair value”.                SECTION 1.04.  Certain Terms.                  (a)   The terms “herein,” “hereof” and “hereunder” and similar terms refer to   this Agreement as a whole, and not to any particular Article, Section, subsection or clause in, this   Agreement.                (b)   Unless otherwise expressly indicated herein, (i) references in this  Agreement to an Exhibit, Schedule, Article, Section, clause or sub-clause refer to the appropriate  Exhibit or Schedule to, or Article, Section, clause or sub-clause in this Agreement and (ii) the  words “above” and “below”, when following a reference to a clause or a sub-clause of any Loan   Document, refer to a clause or sub-clause within, respectively, the same Section or clause.                (c)   Each agreement defined in this Article I shall include all appendices,   exhibits and schedules thereto.  Unless the prior written consent of the Required Lenders is   required hereunder for an amendment, restatement, supplement or other modification to any such   agreement and such consent is not obtained, references in this Agreement to such agreement shall   be to such agreement as so amended, restated, supplemented or modified.                (d)   References in this Agreement to any statute shall be to such statute as  amended or modified from time to time and to any successor legislation thereto, in each case as in  effect at the time any such reference is operative.                                         29     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (e)   The term “including” when used in any Loan Document means   “including without limitation” except when used in the computation of time periods.                (f)   The terms “Lender,” “Issuing Bank” and “Administrative Agent”   include, without limitation, their respective successors.                SECTION 1.05.  Divisions.  For all purposes under the Loan Documents   (including Section 6.04), in connection with any division or plan of division under Delaware   law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right,   obligation or liability of any Person becomes the asset, right, obligation or liability of a   different Person, then it shall be deemed to have been transferred from the original Person to   the subsequent Person, and (b) if any new Person comes into existence, such new Person   shall be deemed to have been organized on the first date of its existence by the holders of its   equity interests at such time.                                   ARTICLE II                      AMOUNTS AND TERMS OF THE LOANS                SECTION 2.01.  The Revolving Loans.                (a)   Each Lender severally agrees, on the terms and conditions hereinafter set  forth, to make Revolving Loans (i) denominated in Dollars to the U.S. Borrower (each, a “Dollar   Revolving Loan”) and (ii) denominated in Dollars or Euros to the Euro Borrowers (each a “Euro   Revolving Loan”, and collectively with any Dollar Revolving Loans, the “Revolving Loans”)   from time to time on any Business Day during the period from the Effective Date until the   Termination Date of such Lender in an aggregate amount as to all Borrowers not to exceed at any   time outstanding the amount of such Lender’s Commitment.                (b)   Anything in this Agreement to the contrary notwithstanding, the Total  Outstandings shall (1) not on the date of any extension of credit under this Agreement nor on the  last day of an Interest Period for any outstanding Borrowing exceed the Total Commitments or  (2) not on the last Business Day of any week exceed 103% of the Total Commitments.               (c)    Each Revolving Loan Borrowing shall be in an aggregate amount of not  less than the Dollar Equivalent of $1,000,000 and integral multiples of the Dollar Equivalent of  $500,000 in excess thereof or, in the case of Eurocurrency Rate Loans denominated in Euros, the  Dollar Equivalent thereof (or, if less, an aggregate amount equal to the then remaining Unused  Commitments of the Lenders participating in such Borrowing, as applicable).               (d)    Each Revolving Loan Borrowing shall (subject to Section 2.09(d))   consist of Revolving Loans of the same Type in the same Currency made on the same day by the   Lenders ratably according to their respective Commitments.                (e)   Within the limits set forth above and subject to Section 2.16, each   Borrower may from time to time borrow, repay pursuant to Section 2.07 or prepay pursuant to   Section 2.10 and reborrow under this Section 2.01.                (f)   Each Lender may, at its option, make any Revolving Loan available to  any Euro Borrower by causing any foreign or domestic branch or Affiliate of such Lender to                                         30     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     make such Revolving Loan; provided that any exercise of such option shall not affect the   obligation of such Euro Borrower to repay such Revolving Loan in accordance with the terms of   this Agreement.  Each reference to any Lender shall be deemed to include any of such Lender’s   Affiliates which make Revolving Loans; provided that no such Lender shall be relieved of its   obligations hereunder until such Lender’s Affiliates have actually performed such Lender’s   obligations.  Notwithstanding the foregoing, the Euro Borrowers and the Administrative Agent   shall be permitted to deal solely and directly with, and may rely conclusively on, such Lender in   connection with such Lender’s rights and obligations under this Agreement                (g)   Any Borrowing in relation to a Loan to any Dutch Borrower shall at all  times be provided by a Lender that is a Dutch Non-Public Lender.                SECTION 2.02.  [Intentionally Deleted].                SECTION 2.03.  The Swing Loans.                On the terms and subject to the conditions contained in this Agreement, each  Swing Loan Lender may, in its sole discretion, make loans (each, a “Swing Loan”) to a Swing   Loan Borrower from time to time on any Business Day during the period from the date hereof   until the Termination Date.  Such Swing Loans shall be denominated in any Alternate Currency   (to the extent acceptable to each Swing Loan Lender) and in an aggregate principal amount as to   all Borrowers not to exceed at any time outstanding the lesser of the Dollar Equivalent of (i) the   Swing Loan Commitments and (ii) the then Unused Commitments of Lenders having   Termination Dates falling on or after the proposed maturity date of such Swing Loan.  Each   Swing Loan must be paid in full upon any Revolving Loan Borrowing by a Swing Loan Borrower   hereunder and shall in any event mature no later than the Termination Date.  Within the limits set   forth in the first sentence of this Section 2.03, amounts of Swing Loans repaid may be reborrowed   under this Section 2.03.  Each Swing Loan Lender may, at its option, make any Swing Loan   available to any Swing Loan Borrower by causing any foreign or domestic branch or Affiliate of   such Swing Loan Lender to make such Swing Loan; provided that any exercise of such option   shall not affect the obligation of such Swing Loan Borrower to repay such Swing Loan in   accordance with the terms of this Agreement.                SECTION 2.04.  The Letters of Credit.                On the terms and subject to the conditions contained in this Agreement,  $400,000,000 of the Facility is available (the “Letter of Credit Sublimit”) for the issuance of   letters of credit, in Dollars or Euros, for the account of the U.S. Borrower or a Euro Borrower (the   “Letter of Credit Sub-Facility”), and each Issuing Bank agrees to Issue at the request of one or   more Borrowers one or more letters of credit (each a “Letter of Credit”) from time to time on any   Business Day during the period commencing on the Effective Date and ending on or before the   day that is 30 days prior to the Termination Date in an amount not to exceed at any time   outstanding the amount of such Issuing Bank’s Letter of Credit Commitment; provided however,   that no Letter of Credit will have a termination date that is later than 30 days prior to the   Termination Date, nor will any such Letter of Credit have a term longer than one calendar year   after the date of issuance thereof other than those letters of credit separately identified on   Schedule 2.04 (Existing Letters of Credit) issued to support IRB Obligations (which letters of   credit may have a term of up to 13 months or up to 18 months as required by such IRB   Obligation), provided further, that any Letter of Credit may provide for the renewal thereof for   additional one calendar year periods, subject to the immediately preceding proviso.                                         31     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 SECTION 2.05.  Fees.                (a)   Facility Fees.  The U.S. Borrower agrees to pay to the Administrative   Agent for the account of each Lender a facility fee on the average daily amount (whether used or   unused) of such Lender’s Commitment from the Effective Date (in the case of each Lender on the   Effective Date), and from the effective date specified in the Acceptance pursuant to which it  became a Lender (in the case of each other Lender), until the Termination Date of such Lender,  payable in Dollars in arrears on each Quarterly Date during the term of such Lender’s  Commitment, and on the Termination Date of such Lender, at a rate per annum equal to the  Applicable Percentage in effect from time to time for facility fees.                (b)   Letter of Credit Compensation.                      (i)   The U.S. Borrower agrees to pay to the Administrative Agent for        the account of each Lender a commission on such Lender’s pro rata share of the average        daily aggregate Available Amount of (A) all Standby Letters of Credit outstanding from        time to time and (B) all Documentary Letters of Credit outstanding from time to time, in        each case at the Applicable Margin in effect from time to time for Eurocurrency Rate        Loans, payable in Dollars (the amount of which commission shall be determined, in the        case of the Available Amount of Letters of Credit denominated in Euros on the basis of        the Dollar Equivalent of such amount on the date payable) in arrears quarterly on each        Quarterly Date and on the Termination Date of such Lender, commencing on the first        Quarterly Date after the date hereof.                      (ii)  The U.S. Borrower agrees to pay to each Issuing Bank, for its        own account, (x) a fronting fee with respect to each Letter of Credit issued by such        Issuing Bank, payable quarterly in arrears on each Quarterly Date during which such        Issuing Bank has acted in such capacity, and on the scheduled Termination Date of such        Issuing Bank (if such Issuing Bank acted in such capacity up to such date), in an amount        equal to the product of fifteen (15) basis points per annum of the average daily Available        Amount of such Letter of Credit multiplied by the actual number of days such Letter of        Credit was outstanding in such period, divided by 360, as applicable, which amount shall        be payable in Dollars and calculated based on the Dollar Equivalent of any amount        otherwise calculated in Euros on the date when such amount is payable, and (y) such        customary fees and charges in connection with the issuance or administration of each        Letter of Credit as may be agreed in writing between the U.S. Borrower and such Issuing        Bank from time to time.                 (c)   Defaulting Lender Fees.  Notwithstanding anything in this Agreement to   the contrary, if any Lender is a Defaulting Lender, such Defaulting Lender will not be entitled to   any fees accruing pursuant to clauses (a) and (b) above, in each case with respect to the entire   accrual period with respect to such fees (without prejudice to the rights of the Non-Defaulting   Lenders in respect of such fees); provided that (i) to the extent that a ratable portion of the Letter   of Credit Obligations or Swing Loans of such Defaulting Lender has been reallocated in   accordance with Section 2.16(a)(i) to the Non-Defaulting Lenders, the fees that would have   accrued for the benefit of such Defaulting Lender will instead accrue for the benefit of and be  payable to such Non-Defaulting Lenders, pro rata in accordance with their respective   Commitments after giving effect to such reallocation, and (ii) to the extent any portion of such   Letter of Credit Obligations or Swing Loans cannot be so reallocated to such Non-Defaulting   Lenders, such fees will instead accrue for the benefit of and be payable to the Issuing Banks and                                         32     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    the Swing Loan Lenders as their interests appear (and the pro rata payment provisions of Section  2.11 will automatically be deemed adjusted to reflect the provisions of this Section 2.05(c)).               (d)   Other Fees.  The U.S. Borrower agrees to pay to the Administrative  Agent such fees as from time to time may be separately agreed between the U.S. Borrower and  the Administrative Agent, including as set forth in the Fee Letter.               SECTION 2.06.  Reductions and Increases of the Commitments.                 (a)   Commitment Reductions, Etc.                     (i)   The Commitment of each Lender shall be automatically reduced       to zero on the Termination Date of such Lender.  In addition, the U.S. Borrower shall       have the right, upon at least three Business Days’ notice to the Administrative Agent, to       terminate in whole or reduce ratably in part the unused portions of the respective       Commitments of the Lenders, provided that (x) the Total Commitments shall not be        reduced pursuant to this sentence to an amount which is less than the Total Outstandings,        (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any        integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments        shall not be allowed if, as a result thereof, the Commitments would be reduced to an        amount which is less than the sum of the Swing Loan Commitments plus the Letter of        Credit Sublimit.  Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be        permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)).                      (ii) The Swing Loan Commitment of each Swing Loan Lender shall       be automatically reduced to zero on the Termination Date of such Swing Loan Lender.        In addition, a Swing Loan Borrower shall have the right, upon at least three Business       Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part       the unused portion of the Swing Loan Commitment of the Swing Loan Lenders, provided        that each partial reduction shall be in an aggregate amount of at least the Dollar        Equivalent $10,000,000.  Each Swing Loan Commitment reduction pursuant to this        Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S.        Borrower under Section 2.06(b)).               (b)   Optional Increases of Commitments.                       (i)   Not more than twice in any calendar year, the U.S. Borrower       may propose to increase the Total Commitments by an aggregate amount of not less than       $25,000,000 or an integral multiple of $10,000,000 in excess thereof (a “Proposed        Aggregate Commitment Increase”) in the manner set forth below, provided that:                           (A)  no Default or Event of Default shall have occurred and           be continuing either as of the date on which the U.S. Borrower shall notify the           Administrative Agent of its request to increase the Total Commitments or as of the           related Increase Date (as hereinafter defined);                           (B)   the representations and warranties contained in Article V           (Representations and Warranties) shall be correct in all material respects (except any           representations and warranties that are qualified by materiality, which shall be true           and correct in all respects) either as of the date on which the U.S. Borrower shall                                        33    

 

                              THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                       FMC CORPORATION        notify the Administrative Agent of its request to increase the Total Commitments or      as of the related Increase Date, as though made on and as of such date, other than      any such representations or warranties that, by their terms, refer to a different date,      which shall be true and correct as of such earlier date; and                     (C)    after giving effect to any such increase, the Total      Commitments shall not exceed $2,250,000,000 less the amount of any reductions of      the Total Commitments under Section 2.06(a)(i).                 (ii) The U.S. Borrower may request an increase in the aggregate  amount of the Commitments by delivering to the Administrative Agent a notice (an  “Increase Notice”, the date of delivery thereof to the Administrative Agent being the   “Increase Notice Date”) specifying (1) the Proposed Aggregate Commitment Increase,   (2) the proposed date (the “Increase Date”) on which the Commitments would be so   increased (which Increase Date may not be fewer than 30 nor more than 60 days after the   Increase Notice Date) and (3) the New Lenders, if any, to whom the U.S. Borrower  desires to offer the opportunity to commit to all or a portion of the Proposed Aggregate  Commitment Increase and which New Lenders, if any, the U.S. Borrower desires the  opportunity to commit to all or a portion of the Proposed Aggregate Commitment  Increase that would increase the Swing Loan Commitments.  The Administrative Agent  shall in turn promptly notify each Lender of the U.S. Borrower’s request by sending each  Lender a copy of such notice.                 (iii) Not later than the date that is five days after the Increase Notice   Date, the Administrative Agent shall notify each New Lender, if any, identified in the   related Increase Notice of the opportunity to commit to all or any portion of the Proposed   Aggregate Commitment Increase.  Each such New Lender may irrevocably commit to all   or a portion of the Proposed Aggregate Commitment Increase, representing Revolving   Commitments, and Swing Loan Commitments, as applicable (such New Lender’s   “Proposed New Commitment”) by notifying the Administrative Agent (which shall give   prompt notice thereof to the U.S. Borrower) before 11:00 A.M. (New York City time) on   the date that is 10 days after the Increase Notice Date; provided that:                      (A)  the Proposed New Commitment of each New Lender      shall be in an aggregate amount not less than $10,000,000; and                     (B)   each New Lender that submits a Proposed New      Commitment shall execute and deliver to the Administrative Agent (for its      acceptance and recording in the Register) a New Commitment Acceptance in      accordance with the provisions of Section 9.07 hereof.                (iv)  If the aggregate Proposed New Commitments of all of the New  Lenders shall be less than the Proposed Aggregate Commitment Increase, then (unless  the U.S. Borrower otherwise requests) the Administrative Agent shall, on or prior to the  date that is 15 days after the Increase Notice Date, notify each Lender of (x) the  opportunity to so commit to all or any portion of the Proposed Aggregate Commitment  Increase not committed to by New Lenders pursuant to Section 2.06(b)(iii) and (y) the   then-current Final Termination Date.  Each Lender may, if, in its sole discretion, it elects   to do so, irrevocably offer to commit to all or a portion of such remainder, representing   Revolving Commitments and Swing Loan Commitments, as applicable (such Lender’s                                   34                    

 

                              THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                       FMC CORPORATION     “Proposed Increased Commitment”), by notifying the Administrative Agent (which shall   give prompt notice thereof to the U.S. Borrower) no later than 11:00 A.M. (New York   City time) on the date five days before the Increase Date.  In no event shall any Lender be   obligated to increase its Commitments hereunder.                (v)   If the aggregate amount of Proposed New Commitments and  Proposed Increased Commitments (such aggregate amount, the “Total Committed   Increase”) equals or exceeds $25,000,000, then, subject to the conditions set forth in   Section 2.06(b)(i):                      (A)  effective on and as of the Increase Date, the Total      Commitments shall be increased by the Total Committed Increase (provided that the      aggregate amount of the Commitments shall in no event be increased pursuant to      this Section 2.06(b) to more than $2,250,000,000 less the amount of any reductions      of the Total Commitments under Section 2.06(a)(i)) and shall be allocated among      the New Lenders and the Lenders as provided in Section 2.06(b)(vi);                      (B)   effective on and as of the Increase Date, the Termination      Date of each New Lender that offers a Proposed New Commitment and of each      Increasing Lender shall be changed to the Final Termination Date (notwithstanding      any earlier Termination Date for such Lender which may then be in effect pursuant      to Section 2.15); and                      (C)   on the Increase Date, if any Revolving Loans are then      outstanding, the Borrowers shall borrow Revolving Loans from all or certain of the      Lenders and/or (subject to compliance by the U.S. Borrower with Section 9.04(c))      prepay Revolving Loans of all or certain of the Lenders (other than any Defaulting      Lender) such that, after giving effect thereto, the Revolving Loans (including,      without limitation, the Types, Currencies and Interest Periods thereof) shall be held      by the Lenders (including for such purposes New Lenders) ratably in accordance      with their respective Commitments (subject, however, to Section 2.09(d)).     If the Total Committed Increase is less than $25,000,000, then the Total Commitments  shall not be changed.                 (vi)  The Total Committed Increase shall be allocated among New  Lenders having Proposed New Commitments and Lenders having Proposed Increased  Commitments as follows:                     (A)   If the Total Committed Increase shall be at least      $25,000,000 and less than or equal to the Proposed Aggregate Commitment      Increase, then (x) the initial Commitment of each New Lender shall be such New      Lender’s Proposed New Commitment and (y) the Commitment of each Lender shall      be increased by such Lender’s Proposed Increased Commitment.                     (B)   If the Total Committed Increase shall be greater than the      Proposed Aggregate Commitment Increase, then the Total Committed Increase shall      be allocated:                                     35                    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                                  (1)   first to New Lenders (to the extent of their                    respective Proposed New Commitments) in such a manner as the U.S.                    Borrower and the Administrative Agent shall agree; and                                 (2)   then to Lenders (to the extent of their respective                    Proposed Increased Commitments, if any) in such a manner as the U.S.                    Borrower shall determine in its sole discretion upon consultation with the                    Administrative Agent and the Syndication Agent.                      (vii) No increase in the Commitments contemplated hereby shall       become effective until the Administrative Agent shall have received (x) Revolving Loan       Notes payable by each of the Borrowers to each New Lender and each Increasing Lender,       to the extent requested, and (y) evidence satisfactory to the Administrative Agent       (including an update of paragraphs 2 and 4 of the opinion of counsel provided pursuant to       Section 4.01(a)(v) that such increases in the Commitments, and Borrowings thereunder,        have been duly authorized.                 SECTION 2.07.  Repayment.               (a)   Revolving Loans.  Subject to Section 2.16(a), each Borrower shall repay  to the Administrative Agent for the account of each Lender the principal amount of each  Revolving Loan made by such Lender to such Borrower, and each Revolving Loan made by such  Lender shall mature on the Termination Date of such Lender.               (b)   [Intentionally Deleted].               (c)   Swing Loans.  Each Swing Loan Borrower shall repay to the  Administrative Agent for the account of each Swing Loan Lender, the Dollar Equivalent of the  outstanding principal amount of each Swing Loan to such Swing Loan Borrower on the earlier of  (i) the maturity date specified in the applicable Swing Loan Request (which maturity shall be no  later than the tenth Business Day after the requested date of such Borrowing) and (ii) the  Termination Date of such Swing Loan Lender.               (d)   Letter of Credit Loans.  The Letters of Credit shall be repaid as set forth  in Section 3.04.               (e)   Certain Prepayments.                       (i)   If, as of the last Business Day of any week during the period       from the Effective Date until the Final Termination Date, (1) the sum of (x) the aggregate       amount of all Loans (for which purpose the amount of any Loan that is denominated in an       Alternate Currency shall be deemed to be the Dollar Equivalent thereof) plus (y) the        Available Amount of all Letters of Credit (for which purpose the Available Amount of        any Letter of Credit denominated in an Alternate Currency shall be deemed to be the        Dollar Equivalent thereof as of the date of determination) exceeds (2) 103% of the then        Total Commitments, the Administrative Agent shall use all reasonable efforts to give        prompt written notice thereof to the U.S. Borrower, specifying the amount to be prepaid        under this clause (i), and the Borrowers shall, within two Business Days of the date of        such notice, prepay the Loans in an amount so that after giving effect thereto the       aggregate outstanding principal amount of the Loans (determined as aforesaid) plus the                                        36    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION          Available Amount of all Letters of Credit (determined as aforesaid) does not exceed the        Total Commitments; provided that any such payment shall be accompanied by any        amounts payable under Section 9.04(c).                     (ii) If, as of the last Business Day of any week during the period       from the Effective Date until the Final Termination Date, the Dollar Equivalent of the       aggregate outstanding principal balance of Swing Loans exceeds 103% of the Swing       Loan Commitments, the Administrative Agent shall use all reasonable efforts to give       prompt written notice thereof to the Swing Loan Borrowers, specifying the amount to be       prepaid under this clause (ii), and the Swing Loan Borrowers shall, within two Business        Days of the date of such notice, prepay the Swing Loans in an amount so that after giving        effect thereto the aggregate outstanding principal balance of Swing Loans (determined as        aforesaid) does not exceed the Swing Loan Commitments.                      (iii) In addition, if on the last day of any Interest Period the aggregate       outstanding principal amount of the Loans (after giving effect to any Loans being made       to repay Loans maturing on that date) (for which purpose the amount of any Loan that is       denominated in an Alternate Currency shall be deemed to be the Dollar Equivalent       thereof) plus the Available Amount of all Letters of Credit (for which purpose the        Available Amount of any Letter of Credit denominated in an Alternate Currency shall be        deemed to be the Dollar Equivalent thereof as of the date of determination) would exceed        100% of the then Total Commitments, the Administrative Agent shall use all reasonable        efforts to give prompt written notice thereof to the U.S. Borrower, specifying the amount        to be prepaid under this clause (iii), and the Borrowers shall, within two Business Days of        the date of such notice, prepay the Loans, or cause Loans to be prepaid, or reduce the        requested Loans in such amounts that after giving effect to such action the aggregate        outstanding principal amount of the Loans (after giving effect to any Loans being made        to repay Loans maturing on that date) (determined as aforesaid) plus the Available        Amount of all Letters of Credit (determined as aforesaid) does not exceed the Total        Commitments; provided that any such payment shall be accompanied by any amounts        payable under Section 9.04(c).                       (iv)  The determinations of the Administrative Agent under this       Section 2.07(e) shall be conclusive and binding on the U.S. Borrower and the other        Borrowers in the absence of manifest error.                (f)   If any Lender is a Defaulting Lender, such Defaulting Lender shall be  deemed to have assigned any and all payments in respect of the Obligations due to it from or for  the benefit of any Borrower pursuant to this Section 2.07 to the Non-Defaulting Lenders for  application to, and reduction of, their ratable portion of all Obligations until such Non-Defaulting  Lenders have been repaid in full.  Such Defaulting Lender hereby authorizes the Administrative  Agent to distribute such payments in accordance with Section 2.16(a)(iii).  This Section 2.07 shall  (i) apply and be effective regardless of whether an Event of Default has occurred and is  continuing and notwithstanding (1) any other provision of this Agreement to the contrary or (2)  any instruction of the U.S. Borrower as to its desired application of payments and (ii) not be  deemed to relieve or otherwise release any Borrower from any of its Obligations due or owing to  any Lender, including a Defaulting Lender.               SECTION 2.08.  Interest.                                           37    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (a)   Ordinary Interest.  Each Borrower shall pay interest on the unpaid   principal amount of each Loan made by each Lender to such Borrower, from the date of such   Loan until such principal amount shall be paid in full, at the following rates per annum and in   each case subject to Section 2.16(a)(iii):                      (i)   Base Rate Loans and Letter of Credit Loans.  If such Loan is         either a Revolving Loan or a Letter of Credit Loan which, in each case, bears interest at         the Base Rate, a rate per annum equal at all times to the Base Rate in effect from time to         time plus the Applicable Margin, payable on (A) each Quarterly Date while such Base         Rate Loan is outstanding or (B) the last day of each month during which such Letter of        Credit Loan is outstanding, and in each case, on the date such Base Rate Loan or Letter        of Credit Loan shall be paid in full.                      (ii) Swing Loans.  If such Loan is a Swing Loan (other than an         Overdraft Advance, for which the rate shall be equal to the Overdraft Advance Interest         Rate), a rate per annum equal at all times to the Swing Loan Base Rate plus the         Applicable Margin (applicable to Eurocurrency Rate Loans) in effect from time to time,         payable (A) on the first Business Day of each calendar quarter, commencing on the first         such day following the making of such Swing Loan, (B) upon each payment or         prepayment thereof in full or in part and (C) if not previously paid in full, at maturity         (whether by acceleration or otherwise) of such Swing Loan.                      (iii) Eurocurrency Rate Loans.  If such Loan is a Eurocurrency Rate         Loan, a rate per annum equal at all times during each Interest Period for such Loan to the         sum of the Eurocurrency Rate for such Interest Period plus the Applicable Margin,         payable on the last day of such Interest Period and, if such Interest Period has a duration         of more than three months, at three-month intervals following the first day of such         Interest Period.                (b)   Default Interest.  Upon the occurrence and during the continuance of an   Event of Default that has not been waived, the Administrative Agent may, and upon the request   of the Required Lenders shall, require the Borrowers to pay to the fullest extent permitted by law   interest (“Default Interest”) on all outstanding Obligations at the rate then applicable to Base Rate   Loans plus two percentage points (2%) per annum; provided however, that following the   acceleration of the Loans and other Obligations pursuant to Section 7.01, Default Interest shall   accrue and be payable hereunder whether or not previously required by the Administrative Agent.                SECTION 2.09.  Interest Rate Determinations.                (a)   [Intentionally Deleted].                (b)   The Administrative Agent shall give prompt notice to the U.S. Borrower   and the Lenders of the applicable interest rate determined by the Administrative Agent for   purposes of Section 2.08(a)(i), (ii) and (iii).                (c)   If prior to 10:00 A.M. (New York City time) on any date on which an  interest rate is to be determined pursuant to the definition of “Eurocurrency Rate”, (i) the  Administrative Agent shall have determined (which determination shall be conclusive and  binding on the U.S. Borrower) that adequate and reasonable means do not exist for determining  the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency                                         38     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Rate Loan, or (ii) the Administrative Agent shall have received notice from the Required Lenders  in respect of the relevant facility that the Eurocurrency Rate for any requested Interest Period  with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost   to such Lenders of funding such Eurocurrency Rate Loan for such Interest Period, then the   Administrative Agent shall promptly notify the U.S. Borrower and each Lender of such   circumstances, whereupon the right of the Borrowers to select Eurocurrency Rate Loans for any   requested Revolving Loan Borrowing or any subsequent Revolving Loan Borrowing shall be   suspended until the first date on which the circumstances causing such suspension cease to exist.    If the Borrowers shall not, in turn, before 11:00 A.M. (New York City time) on such date notify   the Administrative Agent that a Notice of Revolving Loan Borrowing with respect to such   Eurocurrency Rate shall be converted to a Notice of Revolving Loan Borrowing for a   Eurocurrency Rate Loan in a different Currency or a Base Rate Loan, such Notice of Revolving   Loan Borrowing shall be deemed to be canceled and of no force or effect, and the U.S. Borrower   shall not be liable to the Administrative Agent or any Lender with respect thereto except as set   forth in Section 3.01(c).  In the event of such a suspension, the Administrative Agent shall review   the circumstances giving rise to such suspension at least weekly and shall notify the U.S.   Borrower and the Lenders promptly of the end of such suspension, and thereafter the Borrowers   shall be entitled, on the terms and subject to the conditions set forth herein, to borrow   Eurocurrency Rate Loans and Swing Loans in such Currency.    Notwithstanding anything to the contrary in this Agreement or any other Loan Documents, if the   Administrative Agent determines (which determination shall be conclusive absent manifest   error), or the Required Lenders notify the Administrative Agent (with a copy to the U.S.   Borrower) that the Required Lenders have determined, that:                        (i)   adequate and reasonable means do not exist for ascertaining the         Screen Rate or Interpolated Rate for any requested Interest Period, including because the         Eurocurrency Rate is not available or published on a current basis and such         circumstances are unlikely to be temporary; or                       (ii) the supervisor for the administrator of the Eurocurrency Rate or        a Governmental Authority having jurisdiction over the Administrative Agent has made a        public statement identifying a specific date after which LIBOR or the Eurocurrency Rate        shall no longer be made available, or used for determining the interest rate of loans (such        specific date, the “Scheduled Unavailability Date”),    then, after such determination by the Administrative Agent or receipt by the Administrative   Agent of such notice, as applicable, the Administrative Agent and the U.S. Borrower may amend   this Agreement to replace the Eurocurrency Rate with an alternate benchmark rate (including any  mathematical or other adjustments to the benchmark (if any) incorporated therein) that has been  broadly accepted by the syndicated loan market in the United States in lieu of the then current  Eurocurrency Rate (any such proposed rate, a “Eurocurrency Successor Rate”; provided that such   Eurocurrency Successor Rate shall not be less than zero), together with any proposed   Eurocurrency Successor Rate Conforming Changes and, notwithstanding anything to the contrary   in Section 9.01, any such amendment shall become effective at 5:00 P.M. (New York City time)   on the fifth Business Day after the Administrative Agent shall have posted such proposed   amendment to all Lenders and the Borrowers unless, prior to such time, Lenders comprising the   Required Lenders have delivered to the Administrative Agent notice that such Required Lenders   do not accept such amendment.                                            39     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     If no Eurocurrency Successor Rate has been determined and the circumstances under clause (i)   above exist, the obligation of the Lenders to make or maintain Eurocurrency Rate Loans shall be  suspended, (to the extent of the affected Eurocurrency Rate Loans or Interest Periods).  Upon   receipt of such notice, any Borrower may revoke any pending request for a Eurocurrency Rate   Borrowing of, conversion to or continuation of Eurocurrency Rate Loans (to the extent of the   affected Eurocurrency Rate Loans or Interest Periods) or, failing that, will be deemed to have   converted such request into a request for a Borrowing of Base Rate Loans (in the case of   Borrowings in Dollars) in the amount specified therein (or Dollar Equivalent thereof, as   applicable).                (d)   Notwithstanding anything in this Agreement to the contrary, no Lender  whose Termination Date falls prior to the last day of any Interest Period for any Eurocurrency  Rate Loan (a “Relevant Lender”) shall participate in such Loan.  Without limiting the generality   of the foregoing, no Relevant Lender shall (i) participate in a Borrowing of any Eurocurrency   Rate Loan having an initial Interest Period ending after such Lender’s Termination Date, (ii) have   any outstanding Eurocurrency Rate Loan continued for a subsequent Interest Period if such   subsequent Interest Period would end after such Lender’s Termination Date or (iii) have any  outstanding Base Rate Loan Converted into a Eurocurrency Rate Loan if such Eurocurrency Rate  Loan would have an initial Interest Period ending after such Lender’s Termination Date.  If any  Relevant Lender has outstanding a Eurocurrency Rate Loan that cannot be continued for a  subsequent Interest Period pursuant to clause (ii) above or has outstanding a Base Rate Loan that   cannot be Converted into a Eurocurrency Rate Loan pursuant to clause (iii) above, such Lender’s   ratable share of such Eurocurrency Rate Loan (in the case of said clause (ii)) shall be repaid by   the relevant Borrower on the last day of its then current Interest Period and such Lender’s ratable   share of such Base Rate Loan (in the case of said clause (iii)) shall be repaid by the relevant   Borrower on the day on which the Loans of Lenders unaffected by said clause (iii) are so   Converted.  Subject to the terms and conditions of this Agreement, the Borrowers may fund the   repayment of the Relevant Lenders’ ratable shares of such Eurocurrency Rate Loans and Base   Rate Loans by borrowing from Lenders hereunder that are not Relevant Lenders.                SECTION 2.10.  Prepayments.                (a)   The Borrowers shall have no right to prepay any principal amount of any   Revolving Loan or Swing Loan other than as provided in subsection (b) below.                (b)   Each Borrower may without premium or penalty, (i) upon at least the   number of Business Days’ prior notice specified in the first sentence of Section 3.01(a) with   respect to any Revolving Loan of the same Type, (ii) upon notice by no later than 11:00 AM   (London time) one Business Day prior to the date of prepayment of any Swing Loan in any case   given to the Administrative Agent stating the proposed date and aggregate principal amount of   the prepayment, and if such notice is given, such Borrower shall, prepay the outstanding principal   amounts of the Loans made to such Borrower comprising part of the same Revolving Loan   Borrowing or Swing Loan Borrowing, as the case may be, in whole or ratably in part, together   with accrued interest to the date of such prepayment on the principal amount prepaid; provided   however, that (x) each partial prepayment (other than any prepayment of any Swing Loan) shall   be in an aggregate principal amount not less than $1,000,000 or an integral multiple of $500,000   in excess thereof (or the Foreign Currency Equivalent of such respective amounts in the case of   Loans denominated in an Alternate Currency) and (y) if any prepayment of any Eurocurrency  Rate Loans shall be made on a date which is not the last day of an Interest Period for such Loans  (or on a date which is not the maturity date of such Swing Loans), such Borrower shall also pay                                         40     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     any amounts owing to each Lender pursuant to Section 9.04(c) so long as such Lender makes   written demand upon such Borrower therefor (with a copy of such demand to the Administrative   Agent) within 20 Business Days after such prepayment.                SECTION 2.11.  Payments and Computations.                (a)   All payments of principal of and interest on each Loan in a particular  Currency shall be made in such Currency.                (b)   (i)   All payments of principal of and interest on the Loans and all   other amounts whatsoever payable by a Borrower under this Agreement and the Notes shall be   made in immediately available funds, without deduction, setoff or counterclaim, to the   Administrative Agent’s Account for the relevant Currency, not later than 11:00 A.M. (New York   City time) (in the case of amounts payable in Dollars) or 11:00 A.M. Local Time in the location   of the Administrative Agent’s Account (in the case of amounts payable in an Alternate Currency),   on the day when due.                      (ii)  The Administrative Agent will promptly thereafter cause to be        distributed like funds relating to the payment of principal or interest or fees ratably (other        than amounts payable pursuant to Section 2.09(d), 2.12, 2.15(c) or 3.05 or as         contemplated by Section 2.05(c) or 2.16) to the Lenders entitled thereto for the account of         their respective Applicable Lending Offices, and like funds relating to the payment of any         other amount payable to any Lender to such Lender for the account of its Applicable         Lending Office, in each case to be applied in accordance with the terms of this         Agreement.                      (iii) Upon its acceptance of an Acceptance and recording of the        information contained therein in the Register pursuant to Section 9.07(d), from and after         the effective date specified in such Acceptance the Administrative Agent shall make all         payments hereunder and under the Notes in respect of the interest assigned or assumed         thereby to the Lender assignee or New Lender thereunder (as the case may be).  The        parties to each Assignment and Acceptance shall make all appropriate adjustments in        such payments for periods prior to such effective date directly between themselves.                 (c)   All computations of interest based on the Base Rate (other than if the   Base Rate is computed on the basis of the Federal Funds Rate) and of facility fees and letter of   credit commission shall be made by the Administrative Agent on the basis of a year of 365 or   366 days, as the case may be, and all computations of interest based on the Eurocurrency Rate,   the Swing Loan Rate or the Base Rate based on the Federal Funds Rate shall be made by the   Administrative Agent on the basis of a year of 360 days, in each case for the actual number of   days (including the first day but excluding the last day) occurring in the period for which such   interest or fees are payable.  Each determination by the Administrative Agent of an interest rate   hereunder shall be conclusive and binding for all purposes, absent manifest error.                (d)   Whenever any payment hereunder or under the Notes shall be stated to  be due on a day other than a Business Day, such payment shall be made on the next succeeding  Business Day, and such extension of time shall in such case be included in the computation of  payment of interest, facility fee or, letter of credit commission, as the case may be; provided   however, if such extension would cause payment of interest on or principal of Eurocurrency Rate                                          41     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Loans to be made in the next following calendar month, such payment shall be made on the next   preceding Business Day.                (e)   Unless the Administrative Agent shall have received notice from a   Borrower prior to the date on which any payment is due to the Lenders hereunder that such   Borrower will not make such payment in full, the Administrative Agent may assume that such   Borrower has made such payment in full to the Administrative Agent on such date and the   Administrative Agent may, in reliance upon such assumption, cause to be distributed to each   relevant Lender on such due date an amount equal to the amount then due such Lender.  If and to   the extent that such Borrower shall not have so made such payment in full to the Administrative   Agent, each such Lender shall repay to the Administrative Agent forthwith on demand such   amount distributed to such Lender together with interest thereon, for each day from the date such   amount is distributed to such Lender until the date such Lender repays such amount to the   Administrative Agent, at the Federal Funds Rate.                (f)   Anything in Section 2.11(a) to the contrary notwithstanding, and without   prejudice to Section 2.08(b) or 7.01(a), if any Borrower shall fail to pay any principal or interest   denominated in an Alternate Currency within one Business Day after the due date therefor in the   case of principal and three Business Days after the due date therefor in the case of interest   (without giving effect to any acceleration of maturity under Article VII (Events of Default)), the   amount so in default shall automatically be redenominated in Dollars on the day one Business   Day after the due date therefor in the case of a principal payment and three Business Days after   the due date therefor in the case of an interest payment in an amount equal to the Dollar   Equivalent of such principal or interest.                (g)   If any Lender is a Defaulting Lender, such Defaulting Lender shall be  deemed to have assigned any and all payments in respect of the Obligations subject to this  Section 2.11 due to it from and for the benefit of the Borrowers to the Non-Defaulting Lenders   for application to, and reduction of, the Non-Defaulting Lenders’ ratable portion of all  Obligations until such Non-Defaulting Lenders have been repaid in full.  Each Defaulting Lender  hereby authorizes the Administrative Agent to distribute such payments in accordance with  Section 2.16(a)(iii).  This Section 2.11(g) shall (i) apply at any time such Lender is a Defaulting   Lender and be effective regardless of whether an Event of Default has occurred or is continuing   and notwithstanding (1) any other provision of this Agreement to the contrary or (2) any   instruction of the U.S. Borrower as to its desired application of payments and (ii) not be deemed   to relieve or otherwise release any Borrower from any of its Obligations due or owing to any   Lender, including a Defaulting Lender.                SECTION 2.12.  Taxes.                (a)   Defined Terms.  For purposes of this Section, the term “Lender” includes   any Issuing Bank and the term “Applicable Law” includes FATCA.                (b)   Payments Free of Taxes.  Any and all payments by or on account of any   obligation of the Borrowers under any Loan Document shall be made without deduction or   withholding for any Taxes, except as required by Applicable Law.  If any Applicable Law (as   determined in the good faith discretion of an applicable Withholding Agent) requires the   deduction or withholding of any Tax from any such payment by a Withholding Agent, then the   applicable Withholding Agent shall be entitled to make such deduction or withholding and shall   timely pay the full amount deducted or withheld to the relevant Governmental Authority in                                         42     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     accordance with Applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by   the Borrowers shall be increased as necessary so that after such deduction or withholding has  been made (including such deductions and withholdings applicable to additional sums payable  under this Section) the applicable Recipient receives an amount equal to the sum it would have  received had no such deduction or withholding been made.                (c)   Payment of Other Taxes by Borrower.  The Borrowers shall timely pay   to the relevant Governmental Authority in accordance with Applicable Law, or at the option of   the Administrative Agent timely reimburse it for the payment of, any Other Taxes.                (d)   Indemnification by Borrower.  The Borrowers shall indemnify each   Recipient for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or   asserted on or attributable to amounts payable under this Section) payable or paid by such   Recipient or required to be withheld or deducted from a payment to such Recipient and any   reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified   Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority,   provided, however, that (i) no Borrower shall be liable to any Person, as the case may be, for any   liability arising from or with respect to Indemnified Taxes, which results from the gross   negligence or willful misconduct of such Recipient, (ii) so long as no Event of Default has   occurred and is continuing, such Recipient shall use its reasonable best efforts (all at the expense   of such Borrower) to cooperate with each Borrower in contesting any Taxes or Other Taxes   which such Borrower reasonably deems to be not correctly or legally asserted or otherwise not   due and owing and (iii) no Borrower shall be liable to such Recipient for any such liability if such   Person fails to make written demand for indemnification therefor within 120 days of receiving   notice of the existence of such liability.  This indemnification shall be made within 30 days from   the date such Recipient makes written demand therefor.  This subsection shall not be construed to   require the Recipient to make available its tax returns (or any other information relating to its   taxes that it deems confidential) to any Borrower or any Person.                  (e)   Indemnification by the Lenders.  Each Lender shall severally indemnify   the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes   attributable to such Lender (but only to the extent that the Borrowers have not already   indemnified the Administrative Agent for such Indemnified Taxes and without limiting the   obligation of the Borrowers to do so), (ii) any Taxes attributable to such Lender’s failure to  comply with the provisions of Section 9.07(f) relating to the maintenance of a Participant   Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable   or paid by the Administrative Agent in connection with any Loan Document, and any reasonable   expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or   legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the   amount of such payment or liability delivered to any Lender by the Administrative Agent shall be   conclusive absent manifest error.  Each Lender hereby authorizes the Administrative Agent to set   off and apply any and all amounts at any time owing to such Lender under any Loan Document or   otherwise payable by the Administrative Agent to the Lender from any other source against any   amount due to the Administrative Agent under this paragraph (e).                (f)   Evidence of Payments.  As soon as practicable after any payment of   Taxes by the Borrowers to a Governmental Authority pursuant to this Section, the Borrowers  shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by  such Governmental Authority evidencing such payment, a copy of the return reporting such  payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.                                         43     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                (g)   Status of Lenders.  (i) Any Lender that is entitled to an exemption from  or reduction of withholding Tax with respect to payments made under any Loan Document shall  deliver to any relevant Borrower and the Administrative Agent, at the time or times reasonably  requested by such Borrower or the Administrative Agent, such properly completed and executed  documentation reasonably requested by such Borrower or the Administrative Agent as will permit  such payments to be made without withholding or at a reduced rate of withholding.  In addition,  any Lender, if reasonably requested by the relevant Borrower or the Administrative Agent, shall  deliver such other documentation prescribed by Applicable Law or reasonably requested by such  Borrower or the Administrative Agent as will enable such Borrower or the Administrative Agent  to determine whether or not such Lender is subject to backup withholding or information  reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences,  the completion, execution and submission of such documentation (other than such documentation  set forth in paragraphs (g)(ii)(A), (ii)(B) and (ii)(D) of this Section) shall not be required if in the  Lender’s reasonable judgment such completion, execution or submission would subject such  Lender to any material unreimbursed cost or expense or would materially prejudice the legal or  commercial position of such Lender.                     (ii) Without limiting the generality of the foregoing, with respect to       the U.S. Borrower,                          (A)   any Lender that is a U.S. Person shall deliver to the U.S.           Borrower and the Administrative Agent on or about the date on which such Lender           becomes a Lender under this Agreement (and from time to time thereafter upon the           reasonable request of the U.S. Borrower or the Administrative Agent), executed           copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal           backup withholding tax;                          (B)   any Foreign Lender shall, to the extent it is legally           entitled to do so, deliver to the U.S. Borrower and the Administrative Agent (in such           number of copies as shall be requested by the recipient) on or about the date on           which such Foreign Lender becomes a Lender under this Agreement (and from time           to time thereafter upon the reasonable request of the U.S. Borrower or the           Administrative Agent), whichever of the following is applicable:                                (1)   in the case of a Foreign Lender claiming the                   benefits of an income tax treaty to which the United States is a party                   (x) with respect to payments of interest under any Loan Document,                   executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E                   establishing an exemption from, or reduction of, U.S. federal                   withholding Tax pursuant to the “interest” article of such tax treaty and                   (y) with respect to any other applicable payments under any Loan                   Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an                   exemption from, or reduction of, U.S. federal withholding Tax pursuant                   to the “business profits” or “other income” article of such tax treaty;                                (2)   executed copies of IRS Form W-8ECI;                                 (3)   in the case of a Foreign Lender claiming the                   benefits of the exemption for portfolio interest under Section 881(c) of                   the Code, (x) a certificate substantially in the form of Exhibit F-1 to the                                        44    

 

                             THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                      FMC CORPORATION                effect that such Foreign Lender is not a “bank” within the meaning of              Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the U.S.              Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a              “controlled foreign corporation” related to the U.S. Borrower as             described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance              Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS              Form W-8BEN-E; or                           (4)   to the extent a Foreign Lender is not the             beneficial owner, executed copies of IRS Form W-8IMY, accompanied             by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a              U.S. Tax Compliance Certificate substantially in the form of Exhibit F-2              or Exhibit F-3, IRS Form W-9, and/or other certification documents from              each beneficial owner, as applicable; provided that if the Foreign Lender              is a partnership and one or more direct or indirect partners of such              Foreign Lender are claiming the portfolio interest exemption, such              Foreign Lender may provide a U.S. Tax Compliance Certificate             substantially in the form of Exhibit F-4 on behalf of each such direct and              indirect partner;                     (C)   any Foreign Lender shall, to the extent it is legally     entitled to do so, deliver to the U.S. Borrower and the Administrative Agent (in such     number of copies as shall be requested by the recipient) on or about the date on     which such Foreign Lender becomes a Lender under this Agreement (and from time     to time thereafter upon the reasonable request of such Borrower or the     Administrative Agent), executed copies of any other form prescribed by Applicable     Law as a basis for claiming exemption from or a reduction in U.S. federal     withholding Tax, duly completed, together with such supplementary documentation     as may be prescribed by Applicable Law to permit the U.S. Borrower or the     Administrative Agent to determine the withholding or deduction required to be     made; and                     (D)  if a payment made to a Lender under any Loan     Document would be subject to U.S. federal withholding Tax imposed by FATCA if     such Lender were to fail to comply with the applicable reporting requirements of     FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as     applicable), such Lender shall deliver to the U.S. Borrower and the Administrative     Agent at the time or times prescribed by law and at such time or times reasonably     requested by the U.S. Borrower or the Administrative Agent such documentation     prescribed by Applicable Law (including as prescribed by Section 1471(b)(3)(C)(i)     of the Code) and such additional documentation reasonably requested by the U.S.     Borrower or the Administrative Agent as may be necessary for the U.S. Borrower     and the Administrative Agent to comply with their obligations under FATCA and to     determine that such Lender has complied with such Lender’s obligations under     FATCA or to determine the amount, if any, to deduct and withhold from such     payment.  Solely for purposes of this clause (D), “FATCA” shall include any     amendments made to FATCA after the date of this Agreement.               (iii) Without limiting the generality of the foregoing, with respect to  any Borrower that is not a U.S. Person, any Foreign Lender shall, to the extent it is                                  45                    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION           legally entitled to do so, deliver to the applicable Borrower and the Administrative Agent         (in such number of copies as shall be requested by the recipient) on or about the date on         which such Foreign Lender becomes a Lender under this Agreement (and from time to         time thereafter upon the reasonable request of such Borrower or the Administrative         Agent), executed copies of any other form prescribed by Applicable Law as a basis for         claiming exemption from or a reduction in applicable withholding Tax, duly completed,         together with such supplementary documentation as may be prescribed by Applicable         Law to permit the applicable Borrower or the Administrative Agent to determine the         withholding or deduction required to be made.                Each Lender agrees that if any form or certification it previously delivered  expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification  or promptly notify the applicable Borrower and the Administrative Agent in writing of its legal  inability to do so.               For purposes of determining withholding taxes imposed under FATCA, the U.S.  Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the  Administrative Agent to treat) the Agreement as not qualifying as a “grandfathered obligation”  within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i)(A).                  (h)   Treatment of Certain Refunds.  If any party determines, in its sole   discretion exercised in good faith, that it has received a refund of any Taxes as to which it has   been indemnified pursuant to this Section (including by the payment of additional amounts   pursuant to this Section), it shall pay to the indemnifying party an amount equal to such refund   (but only to the extent of indemnity payments made under this Section with respect to the Taxes   giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such   indemnified party and without interest (other than any interest paid by the relevant Governmental   Authority with respect to such refund).  Such indemnifying party, upon the request of such   indemnified party, shall repay to such indemnified party the amount paid over pursuant to this   paragraph (h) (plus any penalties, interest or other charges imposed by the relevant Governmental   Authority) in the event that such indemnified party is required to repay such refund to such   Governmental Authority.  Notwithstanding anything to the contrary in this paragraph (h), in no   event will the indemnified party be required to pay any amount to an indemnifying party pursuant   to this paragraph (h) the payment of which would place the indemnified party in a less favorable   net after-Tax position than the indemnified party would have been in if the Tax subject to   indemnification and giving rise to such refund had not been deducted, withheld or otherwise   imposed and the indemnification payments or additional amounts with respect to such Tax had   never been paid.  This paragraph shall not be construed to require any indemnified party to make   available its Tax returns (or any other information relating to its Taxes that it deems confidential)   to the indemnifying party or any other Person.                (i)   Any Lender claiming any additional amounts payable pursuant to this   Section 2.12 shall use reasonable efforts (consistent with its internal policy and legal and   regulatory restrictions) to change the jurisdiction of its Applicable Lending Office if the making   of such a change would avoid the need for, or reduce the amount of, any such additional amounts   that may thereafter accrue and would not, in the reasonable judgment of such Lender, be   otherwise disadvantageous to such Lender.                                          46     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (j)   If a Borrower is required to pay any Lender any Taxes under  Section 2.12(b) or (d), such Lender shall be an “Affected Person”, and the U.S. Borrower shall   have the rights set forth in Section 3.08 to replace such Affected Person.                (k)   Survival.  Each party’s obligations under this Section shall survive the   resignation or replacement of the Administrative Agent or any assignment of rights by, or the   replacement of, a Lender, the termination of the Commitments and the repayment, satisfaction or   discharge of all obligations under any Loan Document.                SECTION 2.13.  Sharing of Payments, Etc.  If any Lender shall obtain any   payment (whether voluntary, involuntary, through the exercise of any right of set-off, or  otherwise) on account of the Revolving Loans, the Swing Loans or the Letter of Credit Loans  made by it (other than as expressly provided herein) in excess of its ratable share of payments on  account of the Revolving Loans, the Swing Loans or the Letter of Credit Loans obtained by all  such Lenders, such Lender shall forthwith purchase from such other Lenders such participations  in the Revolving Loans, the Swing Loans or the Letter of Credit Loans made by them as shall be  necessary to cause such purchasing Lender to share the excess payment ratably with each of  them, provided however, that, if all or any portion of such excess payment is thereafter recovered   from such purchasing Lender, such purchase from each Lender shall be rescinded and each   Lender shall repay to the purchasing Lender the purchase price to the extent of such recovery   together with an amount equal to such Lender’s ratable share (according to the proportion of (i)   the amount of such Lender’s required repayment to (ii) the total amount so recovered from the   purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in   respect of the total amount so recovered.  Each Borrower agrees that any Lender so purchasing a   participation from another Lender pursuant to this Section 2.13 may, to the fullest extent   permitted by law, exercise all its rights of payment (including the right of set-off) with respect to   such participation as fully as if such Lender were the direct creditor of such Borrower in the   amount of such participation.                SECTION 2.14.  Conversion or Continuation of Revolving Loans.                  (a)   Each Borrower may elect (i) at any time on any Business Day to Convert   Base Rate Loans or any portion thereof to Eurocurrency Rate Loans or (ii) at the end of any   applicable Interest Period, to Convert Eurocurrency Rate Loans denominated in Dollars or any   portion thereof into Base Rate Loans or to Continue Eurocurrency Rate Loans or any portion   thereof for an additional Interest Period; provided however, that the aggregate amount of the   Eurocurrency Rate Loans Converted or Continued for each Interest Period must be in the amount   of at least $5,000,000 or an integral multiple of $1,000,000 in excess thereof.  Each Conversion   or Continuation shall be allocated among the Revolving Loans of each Lender in accordance with   such Lender’s pro rata share.  Subject to clause (b) below, each such election shall be in   substantially the form of Exhibit B-2 (Form of Notice of Conversion or Continuation) (a “Notice   of Conversion or Continuation”) and shall be made by giving the Administrative Agent (x) in the   case of a Continuation or Conversion into Eurocurrency Rate Loans, at least three Business Days’   prior written notice, and (y) in the case of a Conversion into Base Rate Loans, at least one   Business Day’s prior written notice, in each case, specifying (A) the amount and Type of   Revolving Loan being Converted or Continued, (B) in the case of a Conversion to or a   Continuation of Eurocurrency Rate Loans, the applicable Interest Period and (C) in the case of a   Conversion, the date of Conversion (which date shall be a Business Day and, if a Conversion   from Eurocurrency Rate Loans, shall also be the last day of the applicable Interest Period).                                          47     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (b)   The Administrative Agent shall promptly notify each Lender of its  receipt of a Notice of Conversion or Continuation and of the options selected therein.   Notwithstanding the foregoing, no Conversion in whole or in part of Base Rate Loans to  Eurocurrency Rate Loans, and no Continuation in whole or in part of Eurocurrency Rate Loans  upon the expiration of any applicable Interest Period, shall be permitted at any time at which (A)  a Default or an Event of Default shall have occurred and be continuing or (B) the Continuation of,  or Conversion into, a Eurocurrency Rate Loan would violate any provision of Section 2.09, 3.05   or 3.06.  If, within the time period required under the terms of this Section 2.14, the   Administrative Agent does not receive a Notice of Conversion or Continuation from the   applicable Borrower containing a permitted election to Continue any Eurocurrency Rate Loans   for an additional Interest Period or to Convert any such Revolving Loans, then, upon the   expiration of the applicable Interest Period, such Revolving Loans, if denominated in Dollars,   shall be automatically Converted to Base Rate Loans and such Revolving Loans, if denominated   in Euros, shall be automatically Continued as Eurocurrency Rate Loans with an interest period of   one month (or if consented to by all Lenders, seven days).  Each Notice of Conversion or   Continuation shall be irrevocable.                (c)   Notwithstanding the foregoing, upon the occurrence and during the  continuance of any Event of Default, each Eurocurrency Rate Loan shall, upon the expiration of  the applicable Interest Period, be automatically Converted to a Base Rate Loan.                SECTION 2.15.  Extension of Termination Date.                (a)   The U.S. Borrower may, by notice to the Administrative Agent (which  shall promptly notify the Lenders) not less than 40 days and not more than 60 days prior to each  of the first and second anniversaries of the Effective Date (each anniversary, an “Anniversary   Date”), request that each Lender extend such Lender’s Termination Date to the date (the “New   Termination Date”) that is one year after the then Final Termination Date; provided that the   representations and warranties contained in Article V (Representations and Warranties) shall be   correct in all material respects (except any representations and warranties that are qualified by   materiality, which shall be true and correct in all respects) as of the date of such request, as   though made on and as of such date, other than any such representations or warranties that, by   their terms, refer to a different date, which shall be true and correct as of such earlier date.  Each   Lender, acting in its sole discretion, shall, by written notice to the Administrative Agent given no   later than the date (the “Consent Date”) that is 20 days prior to the relevant Anniversary Date   (provided that, if such date is not a Business Day, the Consent Date shall be the next succeeding   Business Day), advise the Administrative Agent as to:                      (i)   whether or not such Lender agrees to such extension of its        Termination Date (each Lender so agreeing to such extension being an “Extending         Lender”); and                      (ii) only if such Lender is an Extending Lender, whether or not such        Lender also irrevocably offers to increase the amount of its Commitment (each Lender so        offering to increase its Commitment being an “Increasing Lender” as well as an         Extending Lender) and, if so, the amount of the additional Commitment such Lender so         irrevocably offers to assume hereunder (such Lender’s “Proposed Additional         Commitment”).                                           48     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    Each Lender that determines not to extend its Termination Date (a “Non-Extending Lender”)  shall notify the Administrative Agent (which shall notify the Lenders) of such fact promptly after  such determination but in any event no later than the Consent Date, and any Lender that does not  advise the Administrative Agent in writing on or before the Consent Date shall be deemed to be a  Non-Extending Lender and (without limiting the U.S. Borrower’s rights under Section 2.15(c))  shall have no liability to the U.S. Borrower in connection therewith.  The election of any Lender  to agree to such extension shall not obligate any other Lender to so agree.  The Administrative  Agent shall notify the U.S. Borrower of each Lender’s determination under this Section 2.15(a)  no later than the date 15 days prior to the relevant Anniversary Date (or, if such date is not a  Business Day, on the next preceding Business Day).               (b)   (i)   If all of the Lenders are Extending Lenders, then, effective as of  the Consent Date, the Termination Date of each Lender shall be extended to the New Termination  Date, and the respective Commitments of the Lenders will not be subject to change at such  Consent Date pursuant to this Section 2.15.                     (ii) If and only if the sum of (x) the aggregate amount of the       Commitments of the Extending Lenders plus (y) the aggregate amount of the Proposed        Additional Commitments of the Increasing Lenders (such sum, the “Extending        Commitments”) shall be equal to at least 50% of the then Total Commitments, then:                           (A)  effective as of the Consent Date, the Termination Date           of each Extending Lender shall be extended to the New Termination Date;                           (B)   the U.S. Borrower shall (so long as no Default shall have           occurred and be continuing) have the right, but not the obligation, to take either of           the following actions with respect to each Non-Extending Lender during the period           commencing on the Consent Date and ending on the immediately succeeding           Anniversary Date:                                 (1)   the U.S. Borrower may elect by notice to the                   Administrative Agent and such Non-Extending Lender that the                   Termination Date of such Non-Extending Lender be changed to a date                   (which date shall be specified in such notice) on or prior to such                   immediately succeeding Anniversary Date (and, upon the giving of such                   notice, the Termination Date of such Non-Extending Lender shall be so                   changed); or                                (2)   the U.S. Borrower may replace such Non-                  Extending Lender as a party to this Agreement in accordance with                   Section 2.15(c); and                           (C)   the Administrative Agent shall notify the Issuing Banks           and the Swing Loan Lenders of the New Termination Date and the Lenders whose           Termination Dates are the New Termination Date and each Issuing Bank and each           Swing Loan Lender shall determine whether or not, acting in its sole discretion, it           shall elect to extend its Termination Date to the New Termination Date and shall so           notify the Administrative Agent.  If such Issuing Bank or such Swing Loan Lender,           as the case may be, has elected to so extend its Termination Date, then such Issuing           Bank’s obligation to issue Letters of Credit pursuant to Sections 2.04 and 3.04 shall                                        49    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION             be extended to the date that is 30 days prior to the New Termination Date and/or           such Swing Loan Lender’s obligation to make Swing Loans to the Borrowers           pursuant to Sections 2.03 and 3.03 shall be extended to the date that is 15 Business           Days prior to the New Termination Date.                     (iii) If neither of the conditions specified in clause (i) or clause (ii) of        this Section 2.15(b) is satisfied, then neither the Termination Date nor the Commitment        of any Lender will change pursuant to this Section 2.15 on such Consent Date, and the        U.S. Borrower will not have the right to take any of the actions specified in        Section 2.06(b)(ii).                (c)   Replacement by the U.S. Borrower of Non-Extending Lenders pursuant  to Section 2.15(b)(ii)(B)(2) shall be effected as follows (certain terms being used in this  Section 2.15(c) having the meanings assigned to them in Section 2.15(d)) on the relevant  Assignment Date:                     (i)   the Assignors shall severally assign and transfer to the       Assignees, and the Assignees shall severally purchase and assume from the Assignors, all       of the Assignors’ rights and obligations (including, without limitation, the Assignors’       respective Commitments) hereunder and under the Notes;                    (ii)  each Assignee shall pay to the Administrative Agent, for account       of the Assignors, an amount equal to such Assignee’s Share of the aggregate outstanding       principal amount of the Loans then held by the Assignors;                     (iii) the U.S. Borrower shall pay to the Administrative Agent, for       account of the Assignors, all accrued interest, fees and other amounts (other than       principal of outstanding Loans) then due and owing to the Assignors by the U.S.       Borrower hereunder (including, without limitation, payments due such Assignors, if any,       under Sections 2.12, 3.05 and 9.04(c)); and                     (iv)  the U.S. Borrower shall pay to the Administrative Agent for       account of the Administrative Agent the $3,500 processing and recordation fee for each       assignment effected pursuant to this Section 2.15(c).    The assignments provided for in this Section 2.15(c) shall be effected on the relevant Assignment  Date in accordance with Section 9.07 and pursuant to one or more Assignments and Acceptances.   After giving effect to such assignments, each Assignee shall have a Commitment hereunder  (which, if such Assignee was a Lender hereunder immediately prior to giving effect to such  assignment, shall be in addition to such Assignee’s existing Commitment) in an amount equal to  the amount of its Assumed Commitment representing a Commitment.  Upon any such termination  or assignment, such Assignor shall cease to be a party hereto but shall continue to be obligated  under Section 8.05 and be entitled to the benefits of Section 9.04, as well as to any fees and other  amounts accrued for its account under Section 2.05, 2.12 or 3.05 and not yet paid.               (d)   For purposes of this Section 2.15, the following terms shall have the  following meanings (such meanings to be equally applicable to both the singular and plural forms  of the terms defined):                                         50    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                “Assigned Commitments” means the Commitments of Non-Extending Lenders to  be replaced pursuant to Section 2.15(b)(ii)(B)(2).               “Assignees” means, at any time, Increasing Lenders and, if the Assigned  Commitments exceed the aggregate amount of the Proposed Additional Commitments, one or  more New Lenders.               “Assignment Date” means the Anniversary Date or such earlier date as shall be  acceptable to the U.S. Borrower, the relevant Assignors, the relevant Assignees and the  Administrative Agent.               “Assignors” means, at any time, the Lenders to be replaced by the U.S. Borrower  pursuant to Section 2.15(b)(ii)(B)(2).                The “Assumed Commitment” of each Assignee shall be determined as follows:                     (a)   If the aggregate amount of the Proposed Additional             Commitments of all of the Increasing Lenders shall exceed the aggregate amount             of the Assigned Commitments, then (i) the amount of the Assumed Commitment             of each Increasing Lender shall be equal to (x) the aggregate amount of the             Assigned Commitments multiplied by (y) a fraction, the numerator of which is              equal to such Increasing Lender’s Commitment as then in effect and the              denominator of which is the aggregate amount of the Commitments of all              Increasing Lenders as then in effect; and (ii) no New Lender shall become a             Lender hereunder pursuant to Section 2.15(c).                     (b)   If the aggregate amount of the Proposed Additional             Commitments of all of the Increasing Lenders shall be less than or equal to the             aggregate amount of the Assigned Commitments, then:  (i) the amount of the             Assumed Commitment of each Increasing Lender shall be equal to such             Increasing Lender’s Proposed Additional Commitment; and (ii) the excess, if             any, of the aggregate amount of the Assigned Commitments over the aggregate              amount of the Proposed Additional Commitments shall be allocated among New              Lenders in such a manner as the U.S. Borrower and the Administrative Agent              may agree.                “Share” means, as to any Assignee, a fraction the numerator of which is equal to  such Assignee’s Assumed Commitment and the denominator of which is the aggregate amount of  the Assumed Commitments of all the Assignees.               SECTION 2.16.  Defaulting Lender.               (a)   Reallocation of Defaulting Lender Commitments.  If a Lender becomes,  and during the period it remains, a Defaulting Lender, the following provisions shall apply:                     (i)   in the case of each Defaulting Lender, the ratable portion of such       Defaulting Lender with respect to any such outstanding Obligations will, subject to the       limitation in the first proviso below, automatically be reallocated (effective on the date       such Lender becomes a Defaulting Lender) among the Lenders that are Non-Defaulting       Lenders pro rata in accordance with such Non-Defaulting Lenders’ respective                                        51    

 

                              THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                       FMC CORPORATION     Commitments; provided that (A) the sum of each Non-Defaulting Lender’s ratable   portion of the Total Outstandings may not in any event exceed the Commitment of such   Non-Defaulting Lender as in effect at the time of such reallocation and (B) neither such  reallocation nor any payment by a Non-Defaulting Lender pursuant thereto will constitute  a waiver or release of any claim any Borrower, the Administrative Agent, any Issuing  Bank, any Swing Loan Lender or any other Lender may have against such Defaulting  Lender, or cause such Defaulting Lender to be a Non-Defaulting Lender;                (ii) in the case of each Defaulting Lender, to the extent that any  portion (the “unreallocated portion”) of the ratable portion of such Defaulting Lender   with respect to any such outstanding and future Letter of Credit Obligations and Swing   Loans cannot be so reallocated, whether by reason of clause (A) of the proviso in clause   (i) above or otherwise, the U.S. Borrower will, not later than 5 Business Days after   demand by the Administrative Agent (at the direction of the Issuing Banks and/or the   Swing Loan Lenders, as the case may be), (A) Cash Collateralize (pursuant to procedures  similar to those detailed in Section 7.02 and reasonably acceptable to the Administrative   Agent) the Obligations of the Borrowers to the Issuing Banks and the Swing Loan   Lenders in respect of such Obligations or (B) make other arrangements reasonably  satisfactory to the Administrative Agent, and to the Issuing Banks and the Swing Loan  Lenders, as the case may be, in their reasonable discretion, to protect them against the  risk of non-payment by such Defaulting Lender; and                (iii) in the case of each Defaulting Lender, any amount paid by the  U.S. Borrower for the account of such Defaulting Lender under this Agreement (whether  on account of principal, interest, fees, indemnity payments or other amounts) will not be  paid or distributed to such Defaulting Lender, but will instead be retained by the  Administrative Agent in a segregated, non-interest bearing account until (subject to  Section 2.05(c)) the termination of the Commitments and payment in full of all the   Obligations and will be applied by the Administrative Agent, to the fullest extent   permitted by law, to the making of payments from time to time in the following order of   priority: first to the payment of any amounts owing by such Defaulting Lender to the  Administrative Agent under this Agreement, second to the payment of any amounts  owing by such Defaulting Lender to any Issuing Bank or any Swing Loan Lender (pro   rata as to the respective amounts owing to each of them) under this Agreement, third to   the payment of post-default interest and then current interest due and payable to the   Lenders hereunder other than Defaulting Lenders as a result of such Defaulting Lender’s  breach of its obligations under this Agreement as determined in any judgment of a court  of competent jurisdiction obtained by any Lender, any Issuing Bank or any Swing Loan  Lender against such Defaulting Lender, ratably among them in accordance with the  amounts of such interest then due and payable to them, fourth to the payment of fees then  due and payable to the Non-Defaulting Lenders hereunder as a result of such Defaulting  Lender’s breach of its obligations under this Agreement as determined in any judgment  of a court of competent jurisdiction obtained by any Lender, any Issuing Bank or any   Swing Loan Lender against such Defaulting Lender, ratably among them in accordance  with the amounts of such fees then due and payable to them, fifth to pay principal and  Reimbursement Obligations in respect of the Letters of Credit at such time then due and  payable to the Non-Defaulting Lenders hereunder ratably in accordance with the amounts  thereof then due and payable to them, sixth to the ratable payment of other amounts then  due and payable to the Non-Defaulting Lenders as a result of such Defaulting Lender’s                                   52                    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION          breach of its obligations under this Agreement as determined in any judgment of a court        of competent jurisdiction obtained by any Lender, any Issuing Bank or any Swing Loan       Lender against such Defaulting Lender, seventh after the termination of the Commitments       and payment in full of all the Obligations, to pay amounts owing under this Agreement to       such Defaulting Lender or as a court of competent jurisdiction may otherwise direct.               (b)   Cash Collateral Call.  If any Lender becomes, and during the period it  remains, a Defaulting Lender, if any Letter of Credit is at the time outstanding, the Issuing Banks  may (except, in the case of a Defaulting Lender, to the extent the Commitments have been fully  reallocated pursuant to Section 2.16(a)), by notice to the Borrowers and such Defaulting Lender  through the Administrative Agent, require any Borrower (i) to deposit in a cash collateral account  maintained by the Administrative Agent an amount at least equal to 105% of the aggregate  amount of the unreallocated obligations (contingent or otherwise) of such Defaulting Lender to be  applied pro rata in respect thereof, or (ii) to make other arrangements satisfactory to the  Administrative Agent, and to the Issuing Banks, as the case may be, in their sole discretion to  protect them against the risk of non-payment by such Defaulting Lender.               (c)   Right to Give Drawdown Notices.  In furtherance of the foregoing, if any  Lender becomes, and during the period it remains, a Defaulting Lender, and the applicable  Borrower fails to Cash Collateralize (pursuant to procedures similar to those detailed in Section  7.02 and reasonably acceptable to the Administrative Agent) or prepay its obligations in respect  of Letter of Credit Obligations or Swing Loans within 5 Business Days after demand by the  Administrative Agent pursuant to this Section 2.16, any Issuing Bank or Swing Loan Lender is  hereby authorized by the Borrowers (which authorization is irrevocable and coupled with an  interest) to give, in its discretion, through the Administrative Agent, Notices of Borrowing  pursuant to Section 3.01 in such amounts and in such times as may be required to (i) pay matured  Reimbursement Obligations, (ii) repay an outstanding Swing Loan, and/or (iii) Cash Collateralize  (pursuant to procedures similar to those detailed in Section 7.02 and reasonably acceptable to the  Administrative Agent) the Obligations of the applicable Borrower in respect of Letters of Credit  Obligations or Swing Loans in an amount at least equal to the aggregate amount of the  obligations (contingent or otherwise) of such Defaulting Lender in respect of such Letter of  Credit or Swing Loan.               (d)   Termination of Defaulting Lender Commitments.  The U.S. Borrower  may terminate the unused amount of the Commitment of a Defaulting Lender upon not less than  10 Business Days’ prior notice to the Administrative Agent (who will promptly notify the  Lenders thereof), and in such event the provisions of Section 2.11 will apply to all amounts  thereafter paid by the U.S. Borrower for the account of such Defaulting Lender under this  Agreement (whether on account of principal, interest, fees, indemnity or other amounts);  provided that such termination will not be deemed to be a waiver or release of any claim any  Borrower, the Administrative Agent, the Issuing Banks, the Swing Loan Lenders or any Lender  may have against such Defaulting Lender.               (e)   Cure.  If the U.S. Borrower, Administrative Agent, the Issuing Banks and  the Swing Loan Lenders, as applicable, agree in writing in their discretion that a Lender that is a  Defaulting Lender should no longer be deemed to be a Defaulting Lender, as the case may be, the  Administrative Agent will so notify the parties hereto, whereupon as of the effective date  specified in such notice and subject to any conditions set forth therein (which may include  arrangements with respect to any amounts then held in the segregated account referred to in  Section 2.16(a)), such Lender will, to the extent applicable, purchase such portion of outstanding                                        53    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Loans of the other Lenders and/or make such other adjustments as the Administrative Agent may   determine to be necessary to cause such Lender’s ratable portion to be on a pro rata basis in   accordance with their respective Commitment, whereupon such Lender will cease to be a   Defaulting Lender and will become a Non-Defaulting Lender; provided that no adjustments will   be made retroactively with respect to fees accrued or payments made by or on behalf of the   Borrowers while such Lender was a Defaulting Lender; and provided further, that except to the   extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting   Lender to Non-Defaulting Lender will constitute a waiver or release of any claim of any party   hereunder arising from such Lender having been a Defaulting Lender.                (f)   Non-Defaulting Lender.  Notwithstanding the foregoing, the occurrence   of any Lender becoming a Defaulting Lender shall not relieve any other Lender of its obligations   to make such Loan or payment on any date required under this Agreement and no other Lender   shall be responsible for the failure of any Defaulting Lender to make any Loan or payment   required under this Agreement.                SECTION 2.17.  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 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  party hereto 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.                                  ARTICLE III             MAKING THE LOANS AND ISSUING THE LETTERS OF CREDIT                SECTION 3.01.  Making the Revolving Loans.                (a)   Each Revolving Loan Borrowing shall be made on notice, given not later   than (x) 12:00 noon (New York City time) on the third Business Day prior to the date of a   Eurocurrency Rate Loan Borrowing, and (y) 11:00 A.M. (New York City time) on the day of a                                         54     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Base Rate Loan Borrowing, by the U.S. Borrower (on its own behalf and on behalf of any Euro   Borrower) to the Administrative Agent, which shall give to each Lender prompt notice thereof.    Each notice of a Revolving Loan Borrowing (a “Notice of Revolving Loan Borrowing”) shall be   made in writing by telecopier, electronic mail, telex or cable, in substantially the form of   Exhibit B-1 hereto, specifying therein the requested (i) date of such Revolving Loan Borrowing   (which shall be a Business Day), (ii) Currency and Type of Revolving Loan comprising such   Revolving Loan Borrowing, (iii) aggregate amount of such Revolving Loan Borrowing, (iv) in   the case of a Revolving Loan Borrowing comprised of Eurocurrency Rate Loans, the Interest   Period for each such Revolving Loan, and (v) the name of the Borrower (which shall be the U.S.  Borrower or a Euro Borrower).  Each Lender shall (A) before 11:00 A.M. Local Time on the date  of such Borrowing (in the case of a Eurocurrency Rate Loan Borrowing) and (B) before  1:00 P.M. (New York City time) on the date of such Borrowing (in the case of a Base Rate Loan  Borrowing), make available for the account of its Applicable Lending Office to the  Administrative Agent at the Administrative Agent’s Account for the relevant Currency in same  day funds, such Lender’s ratable portion of such Borrowing.  After the Administrative Agent’s  receipt of such funds and upon fulfillment of the applicable conditions set forth in Article IV   (Conditions of Lending), the Administrative Agent will make such funds available to the relevant   Borrower in such manner as the Administrative Agent and the U.S. Borrower may agree;   provided however, that the Administrative Agent shall first make a portion of such funds equal to   the aggregate principal amount of any Swing Loan and Letter of Credit Loans as to which a   Borrower has received timely notice made by the Swing Loan Lenders or the Issuing Banks, as  the case may be, or by any other Lender and outstanding on the date of such Revolving Loan  Borrowing, plus interest accrued and unpaid thereon to and as of such date, available to the  relevant Swing Loan Lenders or the relevant Issuing Banks, as the case may be, and such other  Lenders for repayment of such Swing Loans and Letter of Credit Loans.                (b)   Anything in subsection (a) above to the contrary notwithstanding, the   U.S. Borrower may not select Eurocurrency Rate Loans for any Revolving Loan Borrowing if the   aggregate amount of such Revolving Loan Borrowing is less than $1,000,000 or the Foreign   Currency Equivalent thereof.                (c)   Subject to Sections 2.09(c) and 3.06, each Notice of Revolving Loan   Borrowing shall be irrevocable and binding on the U.S. Borrower and the relevant Borrower.  In   the case of any Revolving Loan Borrowing by a Borrower which the related Notice of Revolving   Loan Borrowing specifies is to be comprised of Eurocurrency Rate Loans, such Borrower shall   indemnify each relevant Lender against any loss, cost or expense incurred by such Lender as a   result of any failure to fulfill on or before the date specified in such Notice of Revolving Loan   Borrowing for such Revolving Loan Borrowing the applicable conditions set forth in Article IV   (Conditions of Lending), including, without limitation, any loss (excluding loss of anticipated   profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or   other funds acquired by such Lender to fund the Revolving Loan to be made by such Lender as   part of such Revolving Loan Borrowing when such Revolving Loan, as a result of such failure, is   not made on such date.                (d)   Unless the Administrative Agent shall have received notice from a  Lender prior to the time any Revolving Loan Borrowing is required to be made that such Lender  will not make available to the Administrative Agent such Lender’s ratable portion of such  Revolving Loan Borrowing, the Administrative Agent may assume that such Lender has made  such portion available to the Administrative Agent on the date of such Revolving Loan                                          55     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Borrowing in accordance with subsection (a) of this Section 3.01 and the Administrative Agent   may, in reliance upon such assumption, make available to the relevant Borrower on such date a   corresponding amount.  If and to the extent that such Lender shall not have so made such ratable   portion available to the Administrative Agent, such Lender and the relevant Borrower severally   agree to repay to the Administrative Agent forthwith on demand such corresponding amount   together with interest thereon, for each day from the date such amount is made available to such   Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of   such Borrower, the interest rate applicable at the time to Revolving Loans comprising such   Revolving Loan Borrowing and (ii) in the case of such Lender, the Federal Funds Rate, provided   that such Borrower retains its rights against such Lender with respect to any damages it may incur   as a result of such Lender’s failure to fund, and notwithstanding anything herein to the contrary,   in no event shall such Borrower be liable to such Lender or any other Person for the interest   payable by such Lender to the Administrative Agent pursuant to this sentence.  If such Lender   shall repay to the Administrative Agent such corresponding amount, such amount so repaid shall   constitute such Lender’s Revolving Loan as part of such Revolving Loan Borrowing for purposes   of this Agreement.                (e)   The failure of any Lender to make the Revolving Loan to be made by it  as part of any Revolving Loan Borrowing shall not relieve any other Lender of its obligation, if  any, hereunder to make its Revolving Loan on the date of such Revolving Loan Borrowing, but  no Lender shall be responsible for the failure of any other Lender to make the Revolving Loan to  be made by such other Lender on the date of any Revolving Loan Borrowing.                  SECTION 3.02.  [Intentionally Deleted].                SECTION 3.03.  Making the Swing Loans, Etc.                (a)   In order to request a Swing Loan, a Swing Loan Borrower shall telecopy  (or forward by electronic mail or similar means) to the applicable Swing Loan Lender, with a  copy to the Administrative Agent, a duly completed request in substantially the form of Exhibit E   (Form of Swing Loan Request), setting forth the requested amount, currency and date of such   Swing Loan (a “Swing Loan Request”), to be received by the Swing Loan Lender not later than   12:00 p.m. (London time) on the day of the proposed borrowing.  Subject to the terms of this   Agreement, the Swing Loan Lender agrees to make, on the date of the relevant Swing Loan  Request, the Swing Loan specified in such Swing Loan Request available to the Swing Loan  Borrower.  The Swing Loan Lender shall not be required to determine that, or take notice  whether, the conditions precedent set forth in Section 4.02 have been satisfied in connection with   the making of any Swing Loan.                (b)   Any Swing Loan Lender may demand at any time that each Lender pay   in Dollars to the Administrative Agent, for the account of such Swing Loan Lender, in the manner   provided in clause (c) below, such Lender’s pro rata share of all or a portion of the Dollar   Equivalent of its outstanding Swing Loans, which demand shall be made through the   Administrative Agent, shall be in writing and shall specify the outstanding principal amount of   the Swing Loans demanded to be paid and the Dollar Equivalent (as determined by such Swing   Loan Lender) of such outstanding principal amount if such Swing Loans are denominated in an   Alternate Currency; provided however, the Swing Loan Lenders shall not make any Swing Loan   in the period commencing on the first Business Day after it receives written notice from any   Lender that one or more of the conditions precedent contained in Section 4.02 shall not on such   date be satisfied or duly waived and ending when such conditions are satisfied or duly waived.                                         56     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (c)   The Administrative Agent shall forward each demand referred to in  clause (b) above to each Lender on the day such demand is received by the Administrative Agent   (except that any such demand received by the Administrative Agent after 2:00 p.m. (New York   time) on any Business Day or on a day that is not a Business Day shall not be required to be   forwarded to the Lenders by the Administrative Agent until the next succeeding Business Day),   together with a statement prepared by the Administrative Agent specifying the amount in Dollars   of each Lender’s pro rata share of the Dollar Equivalent of the aggregate principal amount of the   Swing Loans demanded to be paid pursuant to such demand, and, notwithstanding whether or not   the conditions precedent set forth in Section 4.02 shall have been satisfied (which conditions   precedent the Lenders hereby irrevocably waive), each Lender shall, before 11:00 a.m. (New   York time) on the Business Day next succeeding the date of such Lender’s receipt of such   demand, make available to the Administrative Agent, in immediately available funds in Dollars,   for the account of the applicable Swing Loan Lender, the amount specified in such statement.    Upon such payment by a Lender, such Lender shall, except as provided in clause (d) below, be   deemed to have made a Base Rate Loan in Dollars in an amount equal to such payment to the   relevant Swing Loan Borrower (and the U.S. Borrower and the Swing Loan Borrowers hereby   authorizes the making of such Loan).  The Administrative Agent shall use such funds to repay the   Swing Loans to such Swing Loan Lender.  To the extent that any Lender fails to make such   payment available to the Administrative Agent for the account of such Swing Loan Lender, the   Swing Loan Borrowers shall repay such Swing Loan or Swing Loans, as the case may be, on   demand.                (d)   If for any reason the Swing Loans cannot be refinanced by such Loans in  accordance with clause (c) above, each Lender shall acquire, without recourse or warranty, an   undivided participation in each Swing Loan otherwise required to be repaid by such Lender   pursuant to clause (c) above, which participation shall be in a principal amount equal to such   Lender’s pro rata share of the Dollar Equivalent of such Swing Loan, by paying in Dollars to the   applicable Swing Loan Lender on the date on which such Lender would otherwise have been   required to make a payment in respect of such Swing Loan pursuant to clause (c) above, in   immediately available funds, an amount equal to the Dollar Equivalent of such Lender’s pro rata   share of such Swing Loan (and, concurrently with such acquisition, such Swing Loan shall be   automatically converted to Dollars equal to the Dollar Equivalent of such Swing Loan bearing   interest at the Base Rate).  If all or part of such amount is not in fact made available by such   Lender to such Swing Loan Lender on such date, such Swing Loan Lender shall be entitled to   recover any such unpaid amount on demand from such Lender together with interest accrued   from such date at the Federal Funds Rate for the first Business Day after such payment was due   and thereafter at the rate of interest then applicable to Base Rate Loans.                (e)   From and after the date on which any Lender (i) is deemed to have made   a Loan pursuant to clause (c) above with respect to any Swing Loan or (ii) purchases an   undivided participation interest in a Swing Loan pursuant to clause (d) above, the Administrative   Agent shall promptly distribute to such Lender such Lender’s pro rata share of all payments of   principal of and interest received by the Administrative Agent on behalf of the applicable Swing   Loan Lender on account of such Swing Loan (all of which such payments shall be made in   Dollars, regardless of the currency in which such Swing Loan was originally made) other than   those received from a Lender pursuant to clause (c) or (d) above and subject to Section 2.16 with   regard to any Defaulting Lender.  If any payment received and so distributed by any Swing Loan  Lender in respect of principal or interest on any Swing Loan is required to be returned by the  Swing Loan Lender under any of the circumstances described in Section 9.05 (including pursuant                                         57     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     to any settlement entered into by the Swing Loan Lender in its discretion), each Lender shall pay   to such Swing Loan Lender its pro rata share thereof on demand of the Administrative Agent,   plus interest thereon from the date of such demand to the date such amount is returned, at a rate   per annum equal to the Federal Funds Rate.  The Administrative Agent shall make such demand   upon the request of such Swing Loan Lender.  The obligations of the Lenders under this clause   shall survive the payment in full of the Obligations and the termination of this Agreement.                (f)   The parties hereto acknowledge that the Swing Loan Lenders may from  time to time make loans to any Swing Loan Borrower pursuant to an overdraft, autoborrow or  similar arrangement (the “Overdraft Facility”).  The loans made pursuant to the Overdraft Facility   (the “Overdraft Advances”) shall be deemed Swing Loans for all purposes hereof and shall be   subject to all of the provisions hereof; provided that (1) provisions relating to the fact that the   Overdraft Facility is an uncommitted facility shall prevail; (2) the borrowing procedures set forth   in the Overdraft Documents shall prevail in the event of any conflict between such borrowing   procedures and clause (a) above; (3) the optional prepayment provisions set forth in the Overdraft   Documents shall prevail in the event of any conflict between such provisions and Section 2.07;   (4) any mandatory prepayment provisions set forth in the Overdraft Documents shall be in   addition to, and not in lieu of or replacement of, the mandatory prepayment provisions set forth in   Section 2.07; and (5) interest on each Overdraft Advance shall be due and payable in arrears on   each date set forth in the Overdraft Documents in the event of any conflict between such interest   payment dates and the interest payment dates set forth herein.                (g)   Each Lender’s obligation to make Loans or to purchase and fund risk  participations in Swing Loans pursuant to this Section 3.03 shall be absolute and unconditional,   and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment,   defense or other right which such Lender may have against any Swing Loan Lender, any   Borrower or any other Person for any reason whatsoever, (ii) the occurrence or continuance of a   Default, or (iii) any other occurrence, event or condition, whether or not similar to any of the   foregoing.  No such funding of risk participations shall relieve or otherwise impair the obligation   of any Swing Loan Borrower to repay any Swing Loans made to it, together with interest as   provided herein.                (h)   Any Swing Loan Lender may resign at any time upon not less than 90   days’ prior written notice to the U.S. Borrower and the Administrative Agent, during which   period such Swing Loan Lender shall cooperate with the U.S. Borrower in putting in place a new   Swing Loan Lender designated by the U.S. Borrower and acceptable to the Administrative Agent;   provided that such resigning Swing Loan Lender shall retain all the rights and obligations of a   Swing Loan Lender provided for hereunder with respect to Swing Loans made by it and   outstanding as of the effective date of such resignation, including the right to require the Lenders   to make Loans or fund risk participations in outstanding Swing Loans pursuant to this Section   3.03.  If there are no other Swing Loan Lenders, and no such Swing Loan Lender is appointed, in   each case prior to the effectiveness of such resignation, no Swing Loan Borrower shall be entitled   to request Swing Loans until such a Swing Loan Lender is appointed.                SECTION 3.04.  Issuance of Letters of Credit.                (a)   No Issuing Bank shall be under any obligation to Issue any Letter of  Credit upon the occurrence of any of the following:                                            58     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                       (i)   any order, judgment or decree of any Governmental Authority or         arbitrator shall purport by its terms to enjoin or restrain such Issuing Bank from Issuing         such Letter of Credit or any Requirement of Law applicable to such Issuing Bank or any         request or directive (whether or not having the force of law) from any Governmental         Authority with jurisdiction over such Issuing Bank shall prohibit, or request that such         Issuing Bank refrain from, the Issuance of letters of credit generally or such Letter of         Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of         Credit any restriction or reserve or capital requirement (for which such Issuing Bank is         not otherwise compensated) not in effect on the date of this Agreement or that would         result in any unreimbursed loss, cost or expense that was not applicable, in effect or         known to such Issuing Bank as of the date of this Agreement and that such Issuing Bank         in good faith deems material to it;                      (ii)  such Issuing Bank shall have received any written notice of the        type described in clause (c) below;                      (iii) after giving effect to the Issuance of such Letter of Credit, (A)        the aggregate Total Outstandings would exceed the aggregate of the Commitments in        effect at such time or (B) the Letter of Credit Obligations at such time would exceed the        Letter of Credit Sublimit;                      (iv)  any fees due in connection with any Issuance have not been paid;                      (v)   such Letter of Credit is requested to be Issued in a form that is         not acceptable to such Issuing Bank; or                      (vi)  such Letter of Credit is requested to be denominated in any         currency other than Dollars or (if requested by a Euro Borrower) Euros.    None of the Lenders (other than the Issuing Banks in their capacity as such) shall have any   obligation to Issue any Letter of Credit.                (b)   In connection with the Issuance of each Letter of Credit, the U.S.  Borrower or a Euro Borrower, as applicable and appropriate, shall give the relevant Issuing Bank  and the Administrative Agent at least two Business Days’ prior written notice, in form and  substance acceptable to the applicable Issuing Bank, of the requested Issuance of such Letter of  Credit (a “Letter of Credit Request”).  Such notice shall be irrevocable and shall specify the   Issuing Bank of such Letter of Credit, the Currency of Issuance (Dollars or Euros) and face   amount of the Letter of Credit requested, the date of Issuance of such requested Letter of Credit,   the date on which such Letter of Credit is to expire (which date shall be a Business Day) and the   Person for whose benefit the requested Letter of Credit is to be issued.  Such notice, to be   effective, must be received by the relevant Issuing Bank and the Administrative Agent not later   than 11:00 a.m. (New York time) on the second Business Day prior to the date of the requested   Issuance of such Letter of Credit.                (c)   Subject to the satisfaction of the conditions set forth in this Section 3.04   and in Section 2.04, the relevant Issuing Bank shall, on the requested date, Issue a Letter of Credit   for the account of the applicable Borrower in accordance with such Issuing Bank’s usual and   customary business practices.  No Issuing Bank shall Issue any Letter of Credit in the period   commencing on the first Business Day after it receives written notice from any Lender that one or                                         59     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     more of the conditions precedent contained in Section 4.02 shall not on such date be satisfied or   duly waived and ending when such conditions are satisfied or duly waived.  The relevant Issuing   Bank shall not otherwise be required to determine that, or take notice whether, the conditions   precedent set forth in Section 4.02 have been satisfied in connection with the Issuance of any   Letter of Credit.                (d)   If requested by the relevant Issuing Bank, prior to the issuance of each  Letter of Credit by such Issuing Bank, and as a condition of such Issuance and of the participation  of each Lender in the Letter of Credit Obligations arising with respect thereto in accordance with  clause (f) below, the applicable Borrower shall have delivered to such Issuing Bank a letter of   credit reimbursement agreement, in such form as the Issuing Bank may employ in its ordinary   course of business for its own account (a “Letter of Credit Reimbursement Agreement”), signed   by such Borrower, and such other documents or items as may be required pursuant to the terms   thereof.  In the event of any conflict between the terms of any Letter of Credit Reimbursement   Agreement and this Agreement, the terms of this Agreement shall govern.                (e)   Each Issuing Bank shall:                      (i)   give the Administrative Agent written notice (which writing may        be a telecopy or electronic mail) of the Issuance of a Letter of Credit Issued by it, of all        drawings under a Letter of Credit Issued by it and the payment (or the failure to pay when        due) by the applicable Borrower of any Reimbursement Obligation when due, other than        drawings under Letters of Credit issued to support the IRB Obligations and        reimbursement payments in respect thereof that are made when due (which notice, the        Administrative Agent shall promptly transmit by telecopy, electronic mail or similar        transmission to each Lender);                      (ii) upon the request of any Lender, furnish to such Lender, copies of        any Letter of Credit Reimbursement Agreement to which such Issuing Bank is a party        and such other documentation as may reasonably be requested by such Lender; and                     (iii) no later than 10 Business Days following the last day of each        calendar month, provide to the Administrative Agent (and the Administrative Agent shall        provide a copy to each Lender requesting the same) and the U.S. Borrower separate        schedules for Documentary Letters of Credit and Standby Letters of Credit issued by it        under the Letter of Credit Sub-Facility, in form and substance reasonably satisfactory to        the Administrative Agent, setting forth the aggregate Letter of Credit Obligations        outstanding at the end of each month and any information requested by the U.S.        Borrower or the Administrative Agent relating thereto.                (f)   Immediately upon the issuance by an Issuing Bank of a Letter of Credit  in accordance with the terms and conditions of this Agreement, such Issuing Bank shall be  deemed to have sold and transferred to each Lender, and each Lender shall be deemed irrevocably  and unconditionally to have purchased and received from such Issuing Bank, without recourse or  warranty, an undivided interest and participation, to the extent of such Lender’s pro rata share of   the Commitments, in such Letter of Credit and the obligations of the applicable Borrower with   respect thereto (including all Letter of Credit Obligations with respect thereto) and any security   therefor and guaranty pertaining thereto.                                          60     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (g)   Each Borrower agrees to pay to the Issuing Bank of any Letter of Credit  the Dollar Equivalent of the amount of all Reimbursement Obligations owing to such Issuing  Bank under any Letter of Credit issued for its account no later than the date that is the next  succeeding Business Day after such Borrower receives written notice from such Issuing Bank that  payment has been made under such Letter of Credit (the “Reimbursement Date”), irrespective of   any claim, set-off, defense or other right that such Borrower may have at any time against such  Issuing Bank or any other Person.                (h)   In the event that any Issuing Bank makes any payment under any Letter  of Credit and the applicable Borrower shall not have repaid the Dollar Equivalent of such amount  to such Issuing Bank pursuant to clause (g) or any such payment by such Borrower is rescinded   or set aside for any reason, such Reimbursement Obligation shall be payable on demand with   interest thereon computed (i) from the date on which such Reimbursement Obligation arose to the  Reimbursement Date, at the rate of interest applicable during such period to Revolving Loans that  are Base Rate Loans and (ii) from the Reimbursement Date until the date of repayment in full, at   the rate of interest applicable during such period to past due Revolving Loans that are Base Rate   Loans, and such Issuing Bank shall promptly notify the Administrative Agent, which shall   promptly notify each Lender of such failure, and each Lender shall promptly and unconditionally   pay to the Administrative Agent for the account of such Issuing Bank the amount of such   Lender’s pro rata share of such payment in Dollars (based upon the Dollar Equivalent of such   amount on the date of such payment) and in immediately available funds.  If the Administrative   Agent so notifies such Lender prior to 11:00 a.m. (New York time) on any Business Day, such   Lender shall make available to the Administrative Agent for the account of such Issuing Bank its   pro rata share of the amount of such payment on such Business Day in immediately available   funds.  Upon such payment by a Lender, such Lender shall, except during the continuance of a   Default or Event of Default under Section 7.01(e) and notwithstanding whether or not the   conditions precedent set forth in Section 4.02 shall have been satisfied (which conditions   precedent the Lenders hereby irrevocably waive), be deemed to have made a Revolving Loan to   applicable Borrower in the principal amount of such payment.  Whenever any Issuing Bank   receives from the U.S. Borrower a payment of a Reimbursement Obligation as to which the   Administrative Agent has received for the account of such Issuing Bank any payment from a   Lender pursuant to this clause (h), such Issuing Bank shall pay to the Administrative Agent and   the Administrative Agent shall promptly pay to each Lender, in immediately available funds, an   amount equal to such Lender’s pro rata share of the amount of such payment adjusted, if   necessary, to reflect the respective amounts the Lenders have paid in respect of such   Reimbursement Obligation.                (i)   If and to the extent such Lender shall not have so made its pro rata share   of the amount of the payment required by clause (h) above, as applicable, available to the   Administrative Agent for the account of such Issuing Bank, such Lender agrees to pay to the   Administrative Agent for the account of such Issuing Bank forthwith on demand any such unpaid   amount together with interest thereon, for the first Business Day after payment was first due at   the Federal Funds Rate and, thereafter until such amount is repaid to the Administrative Agent for   the account of such Issuing Bank, at the rate per annum applicable to Base Rate Loans under the   Facility.                (j)   Each Borrower’s obligation to pay each Reimbursement Obligation and  the obligations of the Lenders to make payments to the Administrative Agent for the account of  the Issuing Banks with respect to Letters of Credit shall be absolute, unconditional and                                          61     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, under   any and all circumstances whatsoever, including the occurrence of any Default or Event of   Default, and irrespective of any of the following:                      (i)   any lack of validity or enforceability of any Letter of Credit or         any Loan Document, or any term or provision therein;                      (ii) any amendment or waiver of or any consent to departure from all        or any of the provisions of any Letter of Credit or any Loan Document;                     (iii) the existence of any claim, set off, defense or other right that        such Borrower, any other party guaranteeing, or otherwise obligated with, such        Borrower, any Subsidiary or other Affiliate thereof or any other Person may at any time        have against the beneficiary under any Letter of Credit, any Issuing Bank, the        Administrative Agent or any other Lender or any other Person, whether in connection        with this Agreement, any other Loan Document or any other related or unrelated        agreement or transaction;                     (iv)  any draft or other document presented under a Letter of Credit        proving to be forged, fraudulent, invalid or insufficient in any respect or any statement        therein being untrue or inaccurate in any respect;                     (v)   payment by the Issuing Bank under a Letter of Credit against        presentation of a draft or other document that does not comply with the terms of such        Letter of Credit; and                     (vi)  any other act or omission to act or delay of any kind of the        Issuing Bank, the other Lenders, the Administrative Agent or any other Person or any        other event or circumstance whatsoever, whether or not similar to any of the foregoing,        that might, but for the provisions of this Section 3.04 or Section 2.04, constitute a legal or         equitable discharge of such Borrower’s obligations hereunder.    Any action taken or omitted to be taken by the relevant Issuing Bank under or in connection with   any Letter of Credit, if taken or omitted in the absence of gross negligence or willful misconduct,   shall not put such Issuing Bank under any resulting liability to the applicable Borrower or any   Lender.  In determining whether drafts and other documents presented under a Letter of Credit   comply with the terms thereof, the Issuing Bank may accept documents that appear on their face   to be in order, without responsibility for further investigation, regardless of any notice or   information to the contrary and, in making any payment under any Letter of Credit, the Issuing   Bank may rely exclusively on the documents presented to it under such Letter of Credit as to any  and all matters set forth therein, including reliance on the amount of any draft presented under  such Letter of Credit, whether or not the amount due to the beneficiary thereunder equals the  amount of such draft and whether or not any document presented pursuant to such Letter of  Credit proves to be insufficient in any respect, if such document on its face appears to be in order,  and whether or not any other statement or any other document presented pursuant to such Letter  of Credit proves to be forged or invalid or any statement therein proves to be inaccurate or untrue  in any respect whatsoever and any noncompliance in any immaterial respect of the documents  presented under such Letter of Credit with the terms thereof shall, in each case, be deemed not to  constitute willful misconduct or gross negligence of the Issuing Bank.                                          62     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (k)   Schedule 2.04 (Existing Letters of Credit) contains a schedule of   Existing Letters of Credit issued for the account of the U.S. Borrower.  On the Effective Date (i)  such letters of credit, to the extent outstanding, shall be automatically and without further action  by the parties thereto converted to Letters of Credit issued pursuant to this Section 3.04 and   Section 2.04 for the account of the U.S. Borrower and subject to the provisions hereof, and for   this purpose the fees specified in Section 2.05(b) shall be payable (in substitution for any fees set   forth in the applicable letter of credit reimbursement agreements or applications relating to such   letters of credit) as if such letters of credit had been issued on the Effective Date, other than fees   with respect to issuance, amendment or transfer that might otherwise apply as the result of such   letters of credit being treated as if issued on the Effective Date, (ii) the amount of such letters of   credit shall be included in the calculation of Letter of Credit Obligations and (iii) all liabilities of  the U.S. Borrower with respect to such letters of credit shall constitute Reimbursement  Obligations and/or obligations under the Facility.                SECTION 3.05.  Increased Costs.                (a)   If, due to either (i) the introduction of or any change (other than any  change by way of imposition or increase of reserve requirements included in the Eurocurrency  Rate Reserve Percentage, in each case as of the date of determination thereof) in or in the  interpretation of any law or regulation, in each case after the date hereof or (ii) the compliance  with any guideline or request from any central bank or other governmental authority (whether or  not having the force of law) which implements any introduction or change specified in clause (i)   above, there shall be (x) any increase in the cost to any Lender of agreeing to make or making,   funding or maintaining Eurocurrency Rate Loans or Swing Loans or (y) subject any Recipient to   any Taxes (other than (A) Indemnified Taxes, or (B) Taxes described in clauses (b) through (d) of   the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal,   letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or   capital attributable thereto,  then the Borrowers shall from time to time, within ten Business Days  after written demand by such Lender (with a copy of such demand to the Administrative Agent),  pay to the Administrative Agent for the account of such Lender additional amounts sufficient to  compensate such Lender for such increased cost incurred during the 90-day period prior to the  date of such demand.  A certificate as to the amount of such increased cost, submitted to the U.S.  Borrower and the Administrative Agent by such Lender and showing in reasonable detail the  basis for the calculation thereof, shall be prima facie evidence of such costs.                (b)   If any Lender determines that compliance with (i) the introduction of or  any change in or in the interpretation of, any law or regulation, in each case after the date hereof,  or (ii) any guideline or request from any central bank or other governmental authority (whether or  not having the force of law) which implements any introduction or change specified in clause (i)   above, affects or would affect the amount of capital or liquidity required or expected to be   maintained by such Lender or any corporation controlling such Lender and that the amount of   such capital or liquidity is increased by or based upon the existence of such Lender’s commitment   to lend or to issue or participate in Letters of Credit hereunder and other commitments of this   type, then, within ten Business Days after written demand by such Lender (with a copy of such   demand to the Administrative Agent), the Borrowers shall from time to time pay to the   Administrative Agent for the account of such Lender, additional amounts sufficient to   compensate such Lender or such corporation in the light of such circumstances for such increase   in capital or liquidity incurred during the six-month period prior to the date of such demand, to   the extent that such Lender reasonably determines such increase in capital or liquidity to be                                          63     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     allocable to the existence of such Lender’s commitment to lend or to issue or participate in   Letters of Credit hereunder.  A certificate as to such amounts submitted to the U.S. Borrower and   the Administrative Agent by such Lender and showing in reasonable detail the basis for the   calculation thereof shall be prima facie evidence of such costs.                (c)   Failure or delay on the part of any Lender to demand compensation  pursuant to the foregoing provisions of this Section 3.05 shall not constitute a waiver of such   Lender’s right to demand such compensation, provided that no Borrower shall be required to   compensate a Lender pursuant to the foregoing provisions of this Section for any increased costs   incurred or reductions suffered more than six months prior to the date that such Lender notifies   the U.S. Borrower of the circumstances giving rise to such increased costs or reductions and of   such Lender’s intention to claim compensation therefor (except that, if the circumstances giving   rise to such increased costs or reductions is retroactive, then the six-month period referred to  above shall be extended to include the period of retroactive effect thereof).                (d)   Without limiting the effect of the foregoing, the Borrowers shall pay to  each Lender on the last day of each Interest Period so long as such Lender is maintaining reserves  against Eurocurrency Liabilities (or so long as such Lender is maintaining reserves against any  other category of liabilities that includes deposits by reference to which the interest rate on  Eurocurrency Rate Loans is determined as provided in this Agreement or against any category of  extensions of credit or other assets of such Lender that includes any Eurocurrency Rate Loans) an  additional amount (determined by such Lender and notified to the U.S. Borrower through the  Administrative Agent) equal to the product of the following for each Eurocurrency Rate Loan for  each day during such Interest Period:                     (i)   the principal amount of such Eurocurrency Rate Loan        outstanding on such day; and                      (ii) the remainder of (x) a fraction the numerator of which is the rate        (expressed as a decimal) at which interest accrues on such Eurocurrency Rate Loan for        such Interest Period as provided in this Agreement (less the Applicable Margin) and the        denominator of which is one minus the Eurocurrency Rate Reserve Percentage in effect         on such day minus (y) such numerator; and                      (iii) 1/360.                (e)   If the U.S. Borrower is required to pay any Lender any amounts under   this Section 3.05, the applicable Lender shall be an “Affected Person”, and the U.S. Borrower   shall have the rights set forth in Section 3.08 to replace such Affected Person.    Notwithstanding anything to the contrary, for purposes of this Section 3.05, each of (i) the Dodd-  Frank Wall Street Reform and Consumer Protection Act, and all requests, rules, guidelines and   directives promulgated thereunder and (ii) all requests, rules, guidelines or directives concerning  capital adequacy or liquidity effective after the date hereof promulgated by the Bank for  International Settlements, the Basel Committee on Banking Regulations and Supervisory  Practices (or any successor or similar authority) or the United States or foreign regulatory  authorities are deemed to have been introduced or adopted after the date hereof, regardless of the  date enacted or adopted.                                          64     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 SECTION 3.06.  Illegality.  Notwithstanding any other provision of this   Agreement, if any Lender or any Swing Loan Lender, as the case may be, shall notify the  Administrative Agent that the introduction of or any change in or in the interpretation of any law  or regulation makes it unlawful, or any central bank or other governmental authority asserts that it  is unlawful, for such Lender or such Swing Loan Lender, as the case may be, or its Eurocurrency  Lending Office to perform its obligations hereunder to make Eurocurrency Rate Loans or Swing  Loans, as the case may be, or to fund or maintain Eurocurrency Rate Loans or Swing Loans   hereunder, as the case may be, then, subject to the provisions of Section 3.08, (i) the obligation of   such Lender to make Eurocurrency Rate Loans hereunder or the obligations of such Swing Loan   Lender to make Swing Loans hereunder (including, without limitation, to any Borrower who is  also a Foreign Subsidiary), as the case may be, shall be suspended until the first date on which the  circumstances causing such suspension cease to exist (and, to the extent required by applicable   Law, cancelled), (ii) any Eurocurrency Rate Loans made or to be made by such Lender shall be   converted automatically to Base Rate Loans and any Swing Loans made or to be made by such   Swing Loan Lender shall be converted to Swing Loans denominated in Dollars and (iii) such   Lender or such Swing Loan Lender, as the case may be, shall be an “Affected Person”, and the   U.S. Borrower shall have the right set forth in Section 3.08 to replace such Affected Person.  In   the event of such a suspension, such Lender or such Swing Loan Lender, as the case may be, shall   review the circumstances giving rise to such suspension at least weekly and shall notify the U.S.   Borrower, the Administrative Agent, the Swing Loan Lenders and the Lenders promptly of the   end of such suspension, and thereafter the applicable Borrower shall be entitled to borrow   Eurocurrency Rate Loans from such Lender or any Swing Loan Borrower shall be entitled to   borrow Swing Loans from such Swing Loan Lender, as the case may be.    Notwithstanding anything to the contrary, for purposes of this Section 3.06, each of (i) the Dodd-  Frank Wall Street Reform and Consumer Protection Act, and all requests, rules, guidelines and   directives promulgated thereunder and (ii) all requests, rules, guidelines or directives concerning  capital adequacy or liquidity effective after the date hereof promulgated by the Bank for  International Settlements, the Basel Committee on Banking Regulations and Supervisory  Practices (or any successor or similar authority) or the United States or foreign regulatory   authorities are deemed to have been introduced or adopted after the date hereof, regardless of the   date enacted or adopted.                SECTION 3.07.  Reasonable Efforts to Mitigate.  Each Lender and each Swing   Loan Lender shall use its reasonable best efforts (consistent with its internal policy and legal and   regulatory restrictions) to minimize any amounts payable by the Borrowers under Section 3.05   and to minimize any period of illegality described in Section 3.06.  Without limiting the   generality of the foregoing, each Lender and each Swing Loan Lender agrees that, to the extent  reasonably possible to such Lender or such Swing Loan Lender, as the case may be, it will   change its Eurocurrency Lending Office if such change would eliminate or reduce amounts   payable to it under Section 3.05 or eliminate any illegality of the type described in Section 3.06,   as the case may be.  Each Lender and each Swing Loan Lender further agrees to notify the U.S.  Borrower promptly, but in any event within five Business Days, after such Lender or such Swing  Loan Lender, as the case may be, learns of the circumstances giving rise to such a right to  payment or such illegality have changed such that such right to payment or such illegality, as the  case may be, no longer exists.                SECTION 3.08.  Right to Replace Affected Person or Lender.                                          65     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (a)   Replacement by the U.S. Borrower.  In the event (i) the Borrowers are   required to pay any Taxes with respect to an Affected Person pursuant to Section 2.12(b) or (d) or   any amounts with respect to an Affected Person pursuant to Section 3.05, (ii) the U.S. Borrower   receives a notice from an Affected Person pursuant to Section 3.06, or (iii) any Lender is a   Defaulting Lender or Non-Consenting Lender (treating such Lender as an “Affected Person” for   purposes of this Section 3.08), the U.S. Borrower may elect, if such amounts continue to be   charged or such notice is still effective, to replace such Affected Person as a party to this   Agreement, provided that, concurrently therewith, (i) another financial institution which is an   Eligible Assignee and is reasonably satisfactory to the U.S. Borrower and the Administrative   Agent (or if the Lender then serving as Administrative Agent is the Person to be replaced and the   Administrative Agent has resigned its position, the Lender becoming the successor   Administrative Agent) and satisfactory to the Issuing Banks and the Swing Loan Lenders (unless   it is such Swing Loan Lender that is being replaced), shall agree, as of such date, to purchase for   cash and at par the Loans and participation in Letters of Credit of the Affected Person, pursuant to   an Assignment and Acceptance and to become a Lender or a Swing Loan Lender, as the case may   be, for all purposes under this Agreement and to assume all obligations (including all outstanding   Loans) of the Affected Person to be replaced as of such date and to comply with the requirements   of Section 9.07 applicable to assignments and (ii) the U.S. Borrower shall pay to such Affected   Person in same day funds on the day of such replacement all interest, fees and other amounts then   due and owing to such Affected Person by any Borrower hereunder to and including the date of   termination, including without limitation payments due such Affected Person under Section 2.12,   costs incurred under Section 3.05 and payments owing under Section 9.04(c).                (b)   Replacement by the Issuing Banks.  In the event that S&P and Moody’s   shall, after the date that any Person becomes a Lender, downgrade the long-term certificate of  deposit ratings of such Lender, and the resulting ratings shall be below BBB- and Baa3,  respectively, or the equivalent, then the Issuing Banks shall in consultation with the U.S.  Borrower have the right, but not the obligation, at their own expense, upon notice to such Lender  and the Administrative Agent, to replace such Lender with an Eligible Assignee, and such Lender  hereby agrees to transfer and assign without recourse (in accordance with and subject to the  restrictions contained in Section 9.07 (other than clause (a)(iv) thereof)) all the interests, rights   and obligations in respect of its Commitment to an Eligible Assignee; provided however, that   (x) no such assignment shall conflict with any law, rule or regulation or order of any   governmental authority and (y) the Issuing Banks or such Eligible Assignee, as the case may be,   shall pay to such Lender in same day funds on the date of such assignment the principal of and   interest accrued to the date of payment on the Loans made by such Lender and such Lender’s   participation in any Letters of Credit hereunder and all other amounts accrued for such Lender’s   account or owed to it hereunder.  Upon any such termination or assignment, such Lender shall   cease to be a party hereto but shall continue to be obligated under Section 8.05 and be entitled to   the benefits of Section 9.04, as well as to any fees and other amounts accrued for its account   under Section 2.05, 2.12 or 3.05 and not yet paid.                SECTION 3.09.  Use of Proceeds.  The Letters of Credit and the proceeds of the   Loans shall be available (and each Borrower agrees that it shall use such proceeds) for general   corporate purposes of the U.S. Borrower and its Subsidiaries; provided that neither any Lender   nor the Administrative Agent shall have any responsibility for the use of any of the Letters of   Credit or the proceeds of Loans.                                          66     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                                   ARTICLE IV                           CONDITIONS OF LENDING                SECTION 4.01.  Conditions Precedent to Initial Borrowing.  The obligation of   each Lender to make a Loan on the occasion of the initial Borrowing and of an Issuing Bank to   issue the initial Letter of Credit, whichever shall first occur, shall be subject to the conditions   precedent that, on a date (the “Effective Date”) not later than June 30, 2019, the Administrative   Agent shall have received the following:                (a)   Each of the following documents, which shall be dated the Effective  Date and in form and substance satisfactory to the Administrative Agent:                      (i)   This Agreement, duly executed and delivered by each of the        Borrowers and the Guarantor.                     (ii)  Upon request of any Lender, the Revolving Loan Notes payable        by the U.S. Borrower and any Euro Borrower to the order of each such Lender.                     (iii) Certified copies of (w) the charter and by-laws of each        Borrower, (x) the resolutions of the board of directors (or equivalent governing body) of        each Borrower authorizing and approving this Agreement, the Guaranty and the Notes        and the transactions contemplated by the Loan Documents, (y) all documents evidencing        other necessary corporate action and governmental approvals, if any, with respect to the        Loan Documents and (z) a long form good standing certificate (or its equivalent) for each        such Borrower from its jurisdiction of organization.                     (iv)  A certificate of the secretary or an assistant secretary (or        equivalent officer) of each Borrower certifying the names and true signatures of the        officers of each Borrower authorized to sign this Agreement, the Guaranty and the Notes        and the other documents to be delivered hereunder.                      (v)   A favorable opinion of (x) Morgan, Lewis & Bockius LLP U.S.,        counsel to the Borrowers and (y) certain local counsel to each of the Euro Borrowers, in        each case, in form and substance reasonably acceptable to the Administrative Agent and        Lenders and covering such customary matters relating hereto as any Lender, through the        Administrative Agent, may reasonably request.                      (vi)  A certificate of a senior officer of the U.S. Borrower to the effect        that (x) the representations and warranties contained in Article V (Representations and         Warranties) are correct (other than any such representations or warranties which, by their         terms, refer to a prior date) and (y) no event has occurred and is continuing which         constitutes a Default.                      (vii) Such other certificates, documents, agreements and information        respecting any Borrower as any Lender through the Administrative Agent may        reasonably request, including without limitation, at least five Business Days prior to the        Effective Date, all documentation and other information relating to the Borrowers        required by bank regulatory authorities under applicable “know-your-customer” and anti-       money laundering rules and regulations, including the Patriot Act and to the extent                                          67     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION           applicable to any Borrower that constitutes a “legal entity customer” under 31 C.F.R.         §1010.230 (the “Beneficial Ownership Regulation”), a certification regarding beneficial         ownership as required by the Beneficial Ownership Regulation (each, a “Beneficial         Ownership Certificate”), in each case, as reasonably requested by any of the         Administrative Agent and the Lenders at least 10 Business Days prior to the Effective         Date.                 (b)   Confirmation that the U.S. Borrower has paid all accrued fees and   expenses of the Administrative Agent (including, without limitation, amounts then payable under   the Fee Letter) and the Lenders hereunder (including the fees and expenses of counsel to the  Administrative Agent to the extent then payable), together with all accrued but unpaid fees  (including, without limitation, facility fees) and expenses under the Existing Credit Agreement.                SECTION 4.02.  Conditions Precedent to Each Revolving Loan Borrowing,   Swing Loan Borrowing and Letter of Credit Issuance.  The obligation of each Lender to make a   Loan (other than a Swing Loan or a Letter of Credit Loan made by a Lender pursuant to   Section 3.03 or 3.04(b)) on the occasion of each Borrowing (including the initial Borrowing), and   the right of the Borrowers to request a Swing Loan Borrowing or the Issuance of a Letter of   Credit, shall be subject to the further conditions precedent that:                (a)   in the case of the first Borrowing by a Euro Borrower (other than FMC  Finance B.V., FMC Chemicals Netherlands B.V. and FMC Foret, S.A.), the U.S. Borrower shall  have furnished to the Administrative Agent and the Lenders such Revolving Loan Notes,  corporate documents, resolutions, certifications, legal opinions and other items relating to such  Euro Borrower as the Administrative Agent or the Lenders may reasonably require, including  without limitation, all documentation and other information relating to such Euro Borrower  required by bank regulatory authorities under applicable “know-your-customer” and anti-money  laundering rules and regulations, including the Patriot Act and to the extent applicable to any such  Euro Borrower that constitutes a “legal entity customer” under the Beneficial Ownership  Regulation, a Beneficial Ownership Certificate, in each case, as reasonably requested by any of  the Administrative Agent and the Lenders, and                (b)   on the date of such Borrowing or Issuance of a Letter of Credit the  following statements shall be true (and the acceptance by a Borrower of the proceeds of such  Borrowing or of such Letter of Credit shall constitute a representation and warranty by such  Borrower that on the date of such Borrowing or Issuance such statements are true):                     (i)   The representations and warranties contained in Article V         (Representations and Warranties) (except the Excluded Representations) are correct in all         material respects (except any representations and warranties that are qualified by        materiality, which shall be true and correct in all respects) on and as of the date of such         Borrowing or issuance, before and after giving effect to such Borrowing or issuance and         to the application of the proceeds therefrom, as though made on and as of such date, other         than any such representations or warranties that, by their terms, refer to a date other than         the date of such Borrowing or issuance, which are true and correct as of such earlier date;         and                      (ii) No event has occurred and is continuing, or would result from        such Borrowing or issuance or from the application of the proceeds therefrom, which        constitutes a Default.                                         68     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                                   ARTICLE V                     REPRESENTATIONS AND WARRANTIES               The U.S. Borrower and the Guarantor, as applicable, each represents and  warrants as follows:               SECTION 5.01.  Corporate Existence; Compliance with Law.               Each of the U.S. Borrower and its Material Subsidiaries (a) is duly organized,  validly existing and in good standing (where such concept is legally relevant) under the laws of  the jurisdiction of its organization, (b) is duly qualified to do business as a foreign corporation  and in good standing (where such concept is legally relevant) under the laws of each jurisdiction  where such qualification is necessary, except where the failure to be so qualified or in good  standing (where such concept is legally relevant) would not, in the aggregate, reasonably be  expected to have a Material Adverse Effect, (c) has all requisite power and authority and the legal  right to own, pledge, mortgage and operate its properties, to lease the property it operates under  lease and to conduct its business as now or currently proposed to be conducted, (d) with respect to  the U.S. Borrower and its Material Subsidiaries that are Domestic Subsidiaries, is in compliance  with its Constituent Documents, (e) is in compliance with all applicable Requirements of Law  except where the failure to be in compliance would not, in the aggregate, reasonably be expected  to have a Material Adverse Effect and (f) has all necessary licenses, permits, consents or  approvals from or by, has made all necessary filings with, and has given all necessary notices to,  each Governmental Authority having jurisdiction, to the extent required for such ownership,  operation and conduct, except for licenses, permits, consents, approvals or filings that can be  obtained or made by the taking of ministerial action to secure the grant or transfer thereof or the  failure to obtain or make would not, in the aggregate, reasonably be expected to have a Material  Adverse Effect.               SECTION 5.02.  Corporate Power; Authorization; Enforceable Obligations.               (a)   The execution, delivery and performance by each Borrower of the Loan  Documents to which it is a party and the consummation of the transactions contemplated thereby:                     (i)   are within such Borrower’s corporate, limited liability company,       partnership or other organizational powers;                     (ii) have been or, at the time of delivery thereof pursuant to Article        IV (Conditions of Lending) will have been, duly authorized by all necessary action,        including the consent of shareholders, partners and members where required;                     (iii) do not and will not (A) contravene such Borrower’s or any of its       Subsidiaries’ respective Constituent Documents, (B) violate any other Requirement of       Law applicable to such Borrower (including Regulations T, U and X of the Federal       Reserve Board), or any order or decree of any Governmental Authority or arbitrator       applicable to such Borrower, (C) conflict with or result in the breach of, or constitute a       default under, or result in or permit the termination or acceleration of, any Contractual       Obligation of such Borrower or any of its Subsidiaries, or (D) result in the creation or       imposition of any Lien upon any property of such Borrower or any of its Material       Subsidiaries;                                        69    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                       (iv)  do not require the consent of, authorization by, approval of,         notice to, or filing or registration with, any Governmental Authority or any other Person,         other than those listed on Schedule 5.02 (Consents) or that have been or will be, prior to         the Effective Date, obtained or made, copies of which have been or will be delivered to         the Administrative Agent pursuant to Section 4.01(a)(iii)(y), and each of which on the         Effective Date will be in full force and effect.                (b)   This Agreement has been, and each of the other Loan Documents will   have been, upon delivery thereof pursuant to the terms of this Agreement, duly executed and   delivered by each Borrower and the Guarantor party thereto.  This Agreement is, and the other   Loan Documents will be, when delivered hereunder, the legal, valid and binding obligation of   each Borrower and the Guarantor party thereto, enforceable against such Borrower and the   Guarantor in accordance with its terms.                SECTION 5.03.  Financial Statements.                The Consolidated balance sheet of the U.S. Borrower and its Subsidiaries as at  December 31, 2018, and the related Consolidated statements of income, changes in equity and  cash flows of the U.S. Borrower and its Subsidiaries for the fiscal year then ended, certified by  the Borrowers’ Accountants, copies of which have been furnished to each Lender, fairly present  the Consolidated financial condition of the U.S. Borrower and its Subsidiaries as at such dates  and the Consolidated results of the operations of the U.S. Borrower and its Subsidiaries for the  period ended on such date, all in conformity with GAAP.                SECTION 5.04.  Material Adverse Change.                Since December 31, 2018, there has been no Material Adverse Change and there  have been no events or developments that, in the aggregate, have had a Material Adverse Effect.                SECTION 5.05.  Litigation.                Except as set forth on Schedule 5.05 (Litigation), there are no pending or, to the   knowledge of the U.S. Borrower, threatened, actions, investigations or proceedings affecting the   U.S. Borrower or any of its Material Subsidiaries before any court, Governmental Authority or   arbitrator other than those that, in the aggregate, could not reasonably be expected to have a   Material Adverse Effect.  The performance of any action by any Borrower required or   contemplated by any Loan Document is not restrained or enjoined (either temporarily,   preliminarily or permanently).                SECTION 5.06.  Taxes.                The U.S. Borrower and each of its Material Subsidiaries (i) have filed, have  caused to be filed or have been included in all tax returns (federal, state, local and foreign)  required to be filed and all such tax returns are true and correct in all material respects and (ii)  have paid (or have accrued any taxes shown that are not due with the filing of such returns) all  taxes shown thereon to be due, together with applicable interest and penalties, except in any case  where the failure to file any such return or pay any such tax is not in any respect material to the  U.S. Borrower or the U.S. Borrower and its Subsidiaries taken as a whole.                SECTION 5.07.  Full Disclosure.                                         70     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 The information prepared or furnished by or on behalf of the U.S. Borrower in  connection with this Agreement or the consummation of the transactions contemplated hereunder  taken as a whole, including the information contained in the Disclosure Documents, does not  contain any untrue statement of a material fact or omit to state a material fact necessary to make  the statements contained therein or herein in light of the time and circumstances under which they  were made, not misleading. As of the date of its first delivery hereunder, each Beneficial  Ownership Certificate delivered hereunder is true and correct in all respects.                SECTION 5.08.  Investment Company Act.                Neither the U.S. Borrower nor any of its Material Subsidiaries is an “investment   company” or an “affiliated Person” of, or “promoter” or “principal underwriter” for, an   “investment company,” as such terms are defined in the Investment Company Act of 1940, as   amended.                SECTION 5.09.  ERISA.                (a)   No ERISA Event with respect to the U.S. Borrower has occurred or is   reasonably expected to occur with respect to any Plan that, when taken individually or together   with all such other ERISA Events, has resulted or would reasonably be expected to result in a   Material Adverse Effect.               (b)    Neither the U.S. Borrower nor any of its ERISA Affiliates has been   notified by the sponsor of a Multiemployer Plan that it has incurred any Withdrawal Liability, and   neither the U.S. Borrower nor any of its ERISA Affiliates, to the best of the U.S. Borrower’s   knowledge and belief, is reasonably expected to incur any Withdrawal Liability to any   Multiemployer Plan, in each case other than any Withdrawal Liability that would not have a   Material Adverse Effect.               (c)    Neither the U.S. Borrower nor any of its ERISA Affiliates has been   notified by the sponsor of a Multiemployer Plan that such Multiemployer Plan is insolvent or in   endangered or critical status within the meaning of Title IV of ERISA, or has been terminated,   within the meaning of Title IV of ERISA, except where such event would not reasonably be   expected to have a Material Adverse Effect.                (d)   Subject to the accuracy of the representations of the Lenders in Section   9.20, no Person who for purposes of Title IV of ERISA is a member of the U.S. Borrower is an   entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations).                 SECTION 5.10.  Environmental Matters.                Except as disclosed in the U.S. Borrower’s SEC filings filed with respect to  period ending on or prior to December 31, 2018:                (a)   The operations of the U.S. Borrower and each of its Material  Subsidiaries have been and are in compliance with all Environmental Laws, including obtaining  and complying with all required Permits required under or by Environmental Laws (collectively,  “Environmental Permits”), other than non-compliances that, individually or in the aggregate,   would not reasonably be expected to have a Material Adverse Effect.                                          71     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (b)   None of the U.S. Borrower or any of its Material Subsidiaries or any real  property currently or, to the knowledge of the U.S. Borrower, previously owned, operated or  leased by or for the U.S. Borrower or any of its Material Subsidiaries is subject to any pending or,  to the knowledge of the U.S. Borrower, threatened, claim, order, agreement, notice of potential  liability or is the subject of any pending or threatened proceeding or governmental investigation  under or pursuant to Environmental Laws other than those that, individually or in the aggregate,  would not reasonably be expected to have a Material Adverse Effect.                (c)   Except as disclosed on Schedule 5.10 (Environmental Matters), none of   the real property owned or operated by the U.S. Borrower or any of its Material Subsidiaries that   is a Domestic Subsidiary is a treatment, storage or disposal facility requiring a Permit under the   Resource Conservation and Recovery Act, 42 U.S.C. § 6901 et seq. and the regulations   thereunder.                (d)   There are no facts, circumstances or conditions arising out of or relating  to the operations or ownership of the U.S. Borrower or of real property owned, operated or leased  by the U.S. Borrower or any of its Material Subsidiaries that are not specifically included in the  financial information furnished to the Lenders other than those that, individually or in the  aggregate, would not reasonably be expected to have a Material Adverse Effect.                (e)   As of the date hereof, no Environmental Lien has attached to any   property of the U.S. Borrower or any of its Material Subsidiaries and, to the knowledge of the   U.S. Borrower, no facts, circumstances or conditions exist that could reasonably be expected to   result in any such Lien attaching to any such property.                SECTION 5.11.  Ownership of Properties; Liens.                Each of the U.S. Borrower and its Material Subsidiaries has good title to, a valid  leasehold interest in, or other valid legal rights to use, all of the real and personal property used in  the ordinary course of its business, and none of such property is subject to any Lien (other than as  permitted by Section 6.04(a)), except to the extent that the absence of such good title, valid   leasehold interest or valid legal right, in the aggregate, would not reasonably be expected to have   a Material Adverse Effect.                SECTION 5.12.  Sanctions.                Each of the Borrowers and their Subsidiaries are in compliance with applicable  Sanctions.  None of the Borrowers, their Subsidiaries or any of their respective directors, officers,  employees, agents, or affiliates is a Sanctioned Person.  The Letters of Credit and the proceeds of  any Loan will not be used and have not been used, directly or indirectly, (A) to fund any  operations in or with, finance any investments or activities in or with, or make any payments to, a  Sanctioned Person or a Sanctioned Country, except to the extent permissible for a Person required  to comply with Sanctions or (B) in any other manner that would result in a violation by any  Person of any Sanctions.                SECTION 5.13.  Anti-Corruption Laws; Anti-Money Laundering Laws.                  Each of the Borrowers has implemented and maintains in effect policies and   procedures designed to ensure compliance by such Borrower, its Subsidiaries and their respective   directors, officers, employees, brokers and agents with Anti-Corruption Laws and Anti-Money                                         72     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Laundering Laws and applicable Sanctions, and the Borrowers, their Subsidiaries and their   respective officers and employees and to the knowledge of the Borrowers, their and their   Subsidiaries’ respective directors, brokers and agents, are in compliance with Anti-Corruption  Laws and Anti-Money Laundering Laws in all material respects.  No part of any Letter of Credit,  Borrowing, the use of proceeds therefrom or any other transaction contemplated by this  Agreement will violate Anti-Corruption Laws or Anti-Money Laundering Laws.                                  ARTICLE VI                         COVENANTS OF THE COMPANY                SECTION 6.01.  Financial Covenants.  So long as any obligations under this   Agreement or any Note shall remain unpaid, any Letter of Credit shall be outstanding or any   Lender shall have any Commitment hereunder, the U.S. Borrower agrees with the Administrative   Agent to each of the following, unless the Required Lenders shall otherwise consent in writing:                (a)   Maximum Leverage Ratio.  The U.S. Borrower shall maintain on the last   day of each Fiscal Quarter a Leverage Ratio of not more than the applicable level set forth below  adjacent to such Fiscal Quarter:                   Fiscal Quarter Ending      Maximum Leverage Ratio               June 30, 2019               4.25:1.00               September 30, 2019          4.25:1.00               December 31, 2019           4.00:1.00               March 31, 2020              4.00:1.00               June 30, 2020 and thereafter 3.50:1.00                                (b)   Minimum Interest Coverage Ratio.  The U.S. Borrower shall maintain an   Interest Coverage Ratio, as determined as of the last day of each Fiscal Quarter, for the four   consecutive Fiscal Quarters ending on such day, of at least a minimum ratio of 3.50 to 1.00.                 SECTION 6.02.  Reporting Covenants.  So long as any obligations under this   Agreement or any Note shall remain unpaid, any Letter of Credit shall be outstanding or any   Lender shall have any Commitment hereunder, the U.S. Borrower agrees with the Administrative   Agent to each of the following, unless the Required Lenders shall otherwise consent in writing:                (a)   Financial Statements.  The U.S. Borrower shall furnish to the   Administrative Agent (with sufficient copies for each of the Lenders or in electronic, readable   and duplicable form) each of the following:                      (i)   Quarterly Reports.  Within 45 days after the end of each Fiscal         Quarter of each Fiscal Year, other than the fourth Fiscal Quarter of such Fiscal Year,         financial information regarding the U.S. Borrower and its Subsidiaries consisting of                                         73     

 

                              THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                       FMC CORPORATION     Consolidated unaudited balance sheets as of the close of such quarter and the related   statements of income and cash flows for such quarter and that portion of the Fiscal Year   ending as of the close of such quarter, setting forth in comparative form the figures for   the corresponding period in the prior year, in each case certified by a Responsible Officer   of the U.S. Borrower as fairly presenting the Consolidated financial position of the U.S.   Borrower and its Subsidiaries as at the dates indicated and the results of their operations   and cash flow for the periods indicated in accordance with GAAP (subject to the absence   of footnote disclosure and normal year-end audit adjustments).                (ii) Annual Reports.  Within 90 days after the end of each Fiscal   Year, financial information regarding the U.S. Borrower and its Subsidiaries consisting of   Consolidated balance sheets of the U.S. Borrower and its Subsidiaries as of the end of   such year and related statements of income, changes in equity and cash flows of the U.S.   Borrower and its Subsidiaries for such Fiscal Year, all prepared in conformity with   GAAP and certified without qualification as to the scope of the audit by the Borrowers’   Accountants, together with the report of such accounting firm stating that (A) such   Financial Statements fairly present the Consolidated financial position of the U.S.   Borrower and its Subsidiaries as at the dates indicated and the results of their operations   and cash flow for the periods indicated in conformity with GAAP applied on a basis   consistent with prior years (except for changes with which the Borrower’s Accountants   shall concur and that shall have been disclosed in the notes to the Financial Statements)   and (B) the examination by the  Borrower’s Accountants in connection with such   Consolidated Financial Statements has been made in accordance with generally accepted   auditing standards.                (iii) Compliance Certificate. Together with each delivery of any   financial statement pursuant to clause (i) or (ii) above, a certificate of a Responsible   Officer of the U.S. Borrower (each, a “Compliance Certificate”) (A) showing in   reasonable detail the calculations used in determining the Leverage Ratio and Interest   Coverage Ratio and demonstrating compliance with each of the financial covenants  contained in Section 6.01 that is tested on a quarterly basis, and (B) stating that no   Default or Event of Default has occurred and is continuing or, if a Default or an Event of   Default has occurred and is continuing, stating the nature thereof and the action that the   U.S. Borrower proposes to take with respect thereto.          (b)   Default Notices.                  (i)   As soon as practicable, and in any event within five Business  Days after a Responsible Officer of any Borrower has actual knowledge of the existence  of any Default, Event of Default or other event having had a Material Adverse Effect or  having any reasonable likelihood of causing or resulting in a Material Adverse Change,  the U.S. Borrower shall give the Administrative Agent notice specifying the nature of  such Default or Event of Default or other event, including the anticipated effect thereof,  which notice shall be in writing ; and               (ii)  As soon as practicable, and in any event within five Business  Days after a Responsible Officer of any of the U.S. Borrower or any of its Material  Subsidiaries has actual knowledge of the existence of any default under any Indebtedness  of the U.S. Borrower or any such Subsidiary which is outstanding in a principal amount  of at least $50,000,000 in the aggregate (but excluding Indebtedness evidenced by the                                   74                    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION           Notes), the U.S. Borrower shall give the Administrative Agent notice specifying the        nature of such default, including the anticipated effect thereof, which notice shall be in        writing.                (c)   Litigation.  Promptly after the commencement thereof, the U.S.   Borrower shall give the Administrative Agent written notice of the commencement of all actions,   suits and proceedings before any domestic or foreign Governmental Authority or arbitrator,   affecting the U.S. Borrower or any of its Material Subsidiaries that (i) seeks injunctive or similar   relief that, if granted, would reasonably be expected to have a Material Adverse Effect or (ii) in   the reasonable judgment of the U.S. Borrower or such Material Subsidiary, exposes the U.S.   Borrower or such Material Subsidiary to liability that, if adversely determined, would reasonably   be expected to have a Material Adverse Effect.                (d)   SEC Filings; Press Releases.  Promptly after the sending or filing   thereof, the U.S. Borrower shall send the Administrative Agent copies, electronic or otherwise, of   (i) all reports that the U.S. Borrower sends to its security holders generally, (ii) all reports and  registration statements that the U.S. Borrower or any of its Material Subsidiaries files with the  SEC or any national or foreign securities exchange or the National Association of Securities  Dealers, Inc., (iii) all financial and other material press releases and (iv) all other statements  concerning material changes or developments in the business of any Borrower made available by  any Borrower to the public or any other creditor.                (e)   ERISA Matters.  The U.S. Borrower shall furnish the Administrative   Agent (with sufficient copies for each of the Lenders or in electronic, readable and duplicable   form) each of the following:                      (i)   promptly and in any event within 30 days after the U.S.        Borrower or any ERISA Affiliate knows or should reasonably know that any ERISA        Event with respect to the U.S. Borrower has occurred, a statement of a principal financial        officer of the U.S. Borrower describing such ERISA Event and the action, if any, which        the U.S. Borrower or such ERISA Affiliate proposes to take with respect thereto;                       (ii) promptly and in any event within 10 Business Days after receipt        thereof by the U.S. Borrower or any ERISA Affiliate, copies of each notice from the        PBGC stating its intention to terminate any Plan or to have a trustee appointed to        administer any Plan where such action would have a Material Adverse Effect;                       (iii) promptly and in any event within 20 Business Days after receipt        thereof by the U.S. Borrower or any ERISA Affiliate from the sponsor of a        Multiemployer Plan, a copy of each notice received by the U.S. Borrower or any ERISA        Affiliate (1) that it has incurred a Withdrawal Liability to a Multiemployer Plan, (2) of        being insolvent or in endangered or critical status or termination, within the meaning of        Title IV of ERISA, of any Multiemployer Plan or (3) the amount of liability incurred, or        which may be incurred, by the U.S. Borrower or any ERISA Affiliate in connection with        any event described in clause (1) or (2) above.                (f)   Other Information.  The U.S. Borrower shall provide the Administrative   Agent and each requesting Lender with such other information with respect to the business,   properties, condition, financial or otherwise, or operations of the U.S. Borrower or any of its                                          75     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Subsidiaries as the Administrative Agent or such Lender through the Administrative Agent may   from time to time reasonably request.                (g)   Deemed Delivery. Information required to be delivered pursuant to   Section 6.02(a) or (d) above shall be deemed to have been delivered if such information, or one or   more annual or quarterly reports containing such information, shall have been posted by the   Administrative Agent on DebtDomain, IntraLinks, SyndTrak or a similar site to which the  Lenders have been granted access or such reports shall be available on the website of the SEC at   http://www.sec.gov or on the U.S. Borrower’s website at http://www.fmc.com.                SECTION 6.03.  Affirmative Covenants.  So long as any obligations under this   Agreement or any Note shall remain unpaid, any Letter of Credit shall be outstanding or any   Lender shall have any Commitment hereunder, the U.S. Borrower agrees with the Administrative   Agent to each of the following, unless the Required Lenders shall otherwise consent in writing:                (a)   Preservation of Corporate Existence, Etc.  The U.S. Borrower shall, and   shall cause each of its Material Subsidiaries to, preserve and maintain its legal existence, rights  (charter and statutory) and franchises, except as permitted by Section 6.04(b).                (b)   Compliance with Laws, Etc.  The U.S. Borrower shall, and shall cause   each of its Subsidiaries to, comply with all applicable Requirements of Law, Contractual   Obligations and Permits, including ERISA and Environmental Laws, except where the failure so   to comply would not, in the aggregate, reasonably be expected to have a Material Adverse Effect.                (c)   Conduct of Business.  The U.S. Borrower shall, and shall cause each of   its Subsidiaries to, (a) conduct its business in the ordinary course consistent with past practice and  (b) use its reasonable efforts, in the ordinary course and consistent with past practice, to preserve  its business and the goodwill and business of the customers, advertisers, suppliers and others  having business relations with the U.S. Borrower or any of its Subsidiaries, except in each case  where the failure to comply with the covenants in each of clauses (a) and (b) above would not, in   the aggregate, reasonably be expected to have a Material Adverse Effect.                (d)   Payment of Taxes, Etc.  The U.S. Borrower shall, and shall cause each of   its Material Subsidiaries to, pay and discharge before the same shall become delinquent, all U.S.   federal taxes and all other material and lawful governmental claims, taxes, assessments, charges   and levies, except where contested in good faith, by proper proceedings and adequate reserves   therefor have been established on the books of the U.S. Borrower or the appropriate Subsidiary in   conformity with GAAP or locally applicable accounting principles.                (e)   Maintenance of Insurance.  The U.S. Borrower shall maintain for itself,   and cause to be maintained for each of its Material Subsidiaries, insurance with responsible and   reputable insurance companies or associations in such amounts (subject to customary retentions   and deductibles) and covering such risks as is usually carried by companies engaged in similar   businesses and owning similar properties in the same general areas in which the U.S. Borrower or   such Subsidiary operates.                (f)   Access.  The U.S. Borrower shall from time to time permit the   Administrative Agent and the Lenders, or any agents or representatives thereof, within two   Business Days after written notification of the same (except that during the continuance of an   Event of Default, no such notice shall be required) to (i) examine and make copies of and                                         76     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     abstracts from the records and books of account of the U.S. Borrower and each of its Material   Subsidiaries, (ii) visit the properties of the U.S. Borrower and each of its Material Subsidiaries,  (iii) discuss the affairs, finances and accounts of the U.S. Borrower and each of its Material  Subsidiaries with any of their respective officers or directors and (iv) communicate directly with   any of its certified public accountants (including the Borrowers’ Accountants).  The U.S.   Borrower shall authorize its certified public accountants (including the Borrowers’ Accountants)   to disclose to the Administrative Agent or any Lender any and all financial statements and other   information of any kind, as the Administrative Agent or any Lender reasonably requests from the   U.S. Borrower and that such accountants may have with respect to the business, financial   condition, results of operations or other affairs of the U.S. Borrower or any of its Material   Subsidiaries; provided that any such disclosures shall be considered Confidential Information   governed by Section 9.11 hereof.                (g)   Keeping of Books.  The U.S. Borrower shall, and shall cause each of its   Material Subsidiaries to, keep proper books of record and account, in which full and correct   entries shall be made in conformity with GAAP of all financial transactions and the assets and   business of the U.S. Borrower and each such Material Subsidiary.                (h)   Maintenance of Properties, Etc.  The U.S. Borrower shall, and shall   cause each of its Material Subsidiaries to, maintain and preserve (a) in good working order and  condition all of its properties necessary in the conduct of its business, (b) all rights, permits,  licenses, approvals and privileges (including all Permits) used or useful or necessary in the  conduct of its business and (c) all registered patents, trademarks, trade names, copyrights and  service marks with respect to its business, except where failure to so maintain and preserve the  items set forth in clauses (a), (b) and (c) above would not, in the aggregate, reasonably be   expected to have a Material Adverse Effect.                (i)   Application of Proceeds.  The entire amount of the Letters of Credit or   the proceeds of the Loans shall be used by the Borrowers for general corporate purposes.                (j)   Environmental.  The U.S. Borrower shall, and shall cause all of its   Material Subsidiaries to, comply in all material respects with Environmental Laws and, without   limiting the foregoing, the U.S. Borrower shall, at its sole cost and expense, upon receipt of any   notification or otherwise obtaining knowledge of any Release or other event that has any   reasonable likelihood of the U.S. Borrower and its Material Subsidiaries incurring material   Environmental Liabilities and Costs, (a) conduct or pay for consultants to conduct, such tests or   assessments of environmental conditions at such operations or properties as the U.S. Borrower   deems appropriate under the circumstances and (b) take such Remedial Action and undertake   such investigation or other action as required by Environmental Laws or as any Governmental   Authority requires or as is appropriate and consistent with good business practice to address the   Release or event and otherwise ensure compliance with Environmental Laws.                (k)   Sanctions, etc.  Each Borrower will maintain in effect and enforce   policies and procedures designed to ensure compliance by such Borrower, its Subsidiaries and   their respective directors, officers, employees, brokers and agents with Anti-Corruption Laws,   Anti-Money Laundering Laws and applicable Sanctions.                SECTION 6.04.     Negative Covenants.  So long as any obligations under   this Agreement or any Note shall remain unpaid, any Letter of Credit shall be outstanding or any                                          77     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Lender shall have any Commitment hereunder, the U.S. Borrower agrees with the Administrative   Agent to each of the following, unless the Required Lenders shall otherwise consent in writing:                (a)   Liens, Etc.  The U.S. Borrower shall not, and shall not permit any of its   Material Subsidiaries to, create or suffer to exist, any Lien upon or with respect to any of their   respective properties or assets, whether now owned or hereafter acquired, or assign, or permit any  of its Subsidiaries to assign, any right to receive income, except for the following:                      (i)   Liens existing on the date of this Agreement and disclosed on        Schedule 6.04(a) (Existing Liens);                      (ii) Customary Permitted Liens of the U.S. Borrower and the U.S.        Borrower’s Material Subsidiaries;                     (iii) purchase money Liens granted by the U.S. Borrower or any        Material Subsidiary of the U.S. Borrower (including Liens arising pursuant to Capital        Leases and purchase money mortgages or security interests securing Indebtedness        representing or financing the purchase price of equipment (or improvements to existing        equipment) acquired by the U.S. Borrower or any Material Subsidiary of the U.S.        Borrower) and limited in each case to the property purchased with the proceeds of such        purchase money Indebtedness or subject to such Capital Lease;                     (iv)  any Lien securing the renewal, extension, refinancing or        refunding of any Indebtedness secured by any Lien permitted by clause (i) or (iii) above         or this clause (iv) without any change in the assets subject to such Lien;                      (v)   Liens in favor of lessors securing operating leases permitted        hereunder;                      (vi)  Liens on any tangible or intangible asset or property of a Foreign        Subsidiary securing the Foreign Credit Lines of such Foreign Subsidiary or a refinancing        thereof;                       (vii) Liens created in connection with a Receivables Transaction;        provided however, that the aggregate outstanding amount of all Indebtedness secured by         such Liens created pursuant to this clause (vii) does not exceed $500,000,000;                       (viii) [reserved]; and                      (ix)  Liens that are not otherwise permitted by the foregoing clauses        of this Section 6.04(a) securing obligations or other liabilities of any Subsidiary; provided         however, that the aggregate outstanding amount of all such obligations and liabilities         shall not exceed $100,000,000 at any time.                (b)   Restriction on Fundamental Changes.  The U.S. Borrower shall not, and   shall not permit any of its Material Subsidiaries to:                      (i)   merge or consolidate with, or                                          78     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                      (ii) convey, transfer, lease or otherwise dispose of (whether in one       transaction or a series of transactions) all or substantially all of the property (whether now       owned or hereafter acquired) of the U.S. Borrower and its Subsidiaries, taken as a whole,       to, or                    (iii) convey, transfer, lease or otherwise dispose of (whether in one       transaction or a series of transactions, and whether by or pursuant to merger,       consolidation or any other arrangement), any property (whether now owned or hereafter       acquired) essential to the conduct of the business of the U.S. Borrower and its       Subsidiaries, taken as a whole, to,         any Person; provided however, that so long as no Default shall have occurred and then be        continuing or would result therefrom, any Person may merge or consolidate with (A) the       U.S. Borrower, so long as such Borrower is the surviving entity, (B) any other Borrower,       so long as such other Borrower is the surviving entity and (C) any other Material       Subsidiary; provided further, that in the case of clauses (A), (B) and (C), such merger or        consolidation is not otherwise prohibited by this Agreement.  Subject to the foregoing,        and except to the extent otherwise prohibited by this Agreement, the U.S. Borrower may,        directly or indirectly, sell all or a portion of the capital stock or other equity interests of        any Subsidiary (including by way of a merger or consolidation) for fair market value, as       determined in good faith by the U.S. Borrower’s board of directors; provided however,        that if such Subsidiary is also a Euro Borrower or Swing Loan Borrower, such Subsidiary        ceases to be a Euro Borrower or Swing Loan Borrower, as applicable, immediately prior        to such sale and all Obligations of such Subsidiary in its capacity as a Euro Borrower or        Swing Loan Borrower, as applicable, are paid in full prior to the date of such sale.               (c)   Change in Nature of Business.  The U.S. Borrower shall not, and shall  not permit any of its Subsidiaries to, make any material change in the nature or conduct of FMC’s  Business, whether in connection with a transaction permitted by Section 6.04(b) or otherwise.               (d)   Modification of Constituent Documents.  The U.S. Borrower shall not,  nor shall it permit any of its Subsidiaries to, amend its Constituent Documents, except for  changes and amendments that would not reasonably be expected to have a Material Adverse  Effect.               (e)   Accounting Changes; Fiscal Year.  The U.S. Borrower shall not change  its (a) accounting treatment and reporting practices or tax reporting treatment, except as required  or permitted by GAAP, or (b) Fiscal Year.               (f)   Margin Regulations.  The U.S. Borrower shall not, and shall not permit  any of its Material Subsidiaries to, use all or any portion of the proceeds of any credit extended  hereunder to purchase or carry margin stock (within the meaning of Regulation U of the Federal  Reserve Board) in contravention of Regulation U of the Federal Reserve Board.               (g)   No Speculative Transactions.  The U.S. Borrower shall not, and shall not  permit any of its Subsidiaries to, enter into any Hedging Contract solely for speculative purposes  or other than for the purpose of hedging risks associated with the businesses of the U.S. Borrower  and its Material Subsidiaries, as done in the ordinary course of such businesses.                                         79    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (h)   Compliance with ERISA.  The U.S. Borrower shall not cause or permit   to occur, and shall not permit any of its ERISA Affiliates to cause or permit to occur, (a) an event   that could result in the imposition of a Lien under Section 412 of the Code or Section 302 or 4068   of ERISA or (b) ERISA Events that would have a Material Adverse Effect in the aggregate.                (i)   Sanctions, etc.  No Borrower will request any Borrowing or Letter of   Credit, and no Borrower shall use (and such Borrower shall procure that its Subsidiaries and its or  their respective directors, officers, employees, brokers and agents shall not use) the proceeds of  any Borrowing or Letter of Credit (A) in furtherance of an offer, payment, promise to pay, or  authorization of the payment or giving of money, or anything else of value, to any Person in  violation of any Anti-Corruption Laws or Anti-Money Laundering Laws, (B) for the purpose of  funding, financing or facilitating any activities, business or transaction of or with any Sanctioned  Person, or in any Sanctioned Country, except to the extent permissible for a Person required to  comply with Sanctions, or (C) in any other manner that would result in the violation by any  Person of any Sanctions.                                   ARTICLE VII                             EVENTS OF DEFAULT                SECTION 7.01.  Events of Default.  If any of the following events (“Events of   Default”) shall occur and be continuing:                (a)   (i) Any Borrower shall fail to pay any principal of any Loan or   Reimbursement Obligation when the same becomes due and payable; or (ii) any Borrower shall  fail to pay any interest on any Loan or Reimbursement Obligation, or any other payment under  any Loan Document, for a period of three Business Days after the same becomes due and  payable; or                (b)   Any representation or warranty made or deemed made by any Borrower  herein or by any Borrower (or any of its officers) under or in connection with any Loan  Document shall prove to have been incorrect in any material respect when made or deemed made;  or                (c)   The U.S. Borrower shall fail to perform or observe (i) any term, covenant   or agreement contained in Section 6.01, Section 6.02(a) or (b), Section 6.03(a) or (i) or   Section 6.04, or (ii) any other term, covenant or agreement contained in this Agreement on its   part to be performed or observed if the failure to perform or observe such other term, covenant or   agreement shall remain unremedied for 30 days after written notice thereof shall have been given   to the U.S. Borrower by the Administrative Agent or the Required Lenders; or                (d)   (i) The U.S. Borrower or any of its Material Subsidiaries shall fail to pay   any principal of or premium or interest on any Indebtedness which is outstanding in a principal   amount of at least $50,000,000 in the aggregate (but excluding Indebtedness evidenced by the   Notes) of the U.S. Borrower or such Subsidiary (as the case may be), when the same becomes due   and payable (whether by scheduled maturity, required prepayment, acceleration, demand or   otherwise), and such failure shall continue after the applicable grace period, if any, specified in   the agreement or instrument relating to such Indebtedness, (ii) any such Indebtedness shall  become or be declared to be due and payable, or be required to be prepaid or repurchased (other  than by a regularly scheduled required prepayment), prior to the stated maturity thereof and the                                         80     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     U.S. Borrower or such Subsidiary shall have failed to make such payment or effect such   repurchase, and such failure shall continue after the applicable grace period, if any, specified in   the agreement or instrument relating to such Indebtedness, or (iii) any other event shall occur or  condition shall exist under any agreement or instrument relating to any such Indebtedness, if the  effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of  such Indebtedness, provided that any required notice of such event or condition shall have been   given or any applicable grace period shall have expired; provided however, that if there is   acceleration of any Indebtedness which is included under this clause (d) solely because of a   Guarantee by the U.S. Borrower or one of its Material Subsidiaries, an Event of Default will not   exist under this clause (d) so long as the U.S. Borrower or such Material Subsidiary, as the case   may be, fully performs its obligations in a timely manner under such Guarantee upon demand   therefor by the beneficiary thereof; or                (e)   The U.S. Borrower or any of its Material Subsidiaries shall generally not  pay its debts as such debts become due, or shall admit in writing its inability to pay its debts  generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall  be instituted by or against the U.S. Borrower or any of its Material Subsidiaries seeking to  adjudicate it as bankrupt or insolvent, or seeking liquidation, winding up, reorganization,  arrangement, adjustment, protection, relief, or composition of it or its debts under any law  relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an  order for relief or the appointment of a receiver, trustee, custodian or other similar official for it  or for any substantial part of its property and, in the case of any such proceeding instituted against  it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a  period of 60 days, or any of the actions sought in such proceeding (including, without limitation,  the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other  similar official for, it or for any substantial part of its property) shall occur; or the U.S. Borrower  or any of its Material Subsidiaries shall take any corporate action to authorize any of the actions  set forth above in this subsection (e); or                (f)   One or more judgments or orders for the payment of money in excess of  $50,000,000 in the aggregate and not covered by insurance shall be rendered against the U.S.  Borrower or any of its Material Subsidiaries and either (i) enforcement proceedings shall have  been commenced by any creditor upon such judgment or order or (ii) there shall be any period of  30 consecutive days during which a stay of enforcement of such judgment or order, by reason of a  pending appeal or otherwise, shall not be in effect; or               (g)   Any ERISA Event with respect to the U.S. Borrower shall have occurred  and the amount of all liabilities and deficiencies resulting therefrom, whether or not assessed,  would reasonably be expected to have a Material Adverse Effect; or               (h)   The U.S. Borrower or any ERISA Affiliate shall have been notified by  the sponsor of a Multiemployer Plan that it has incurred Withdrawal Liability to such  Multiemployer Plan which would reasonably be expected to have a Material Adverse Effect;                (i)   The U.S. Borrower or any ERISA Affiliate shall have been notified by  the sponsor of a Multiemployer Plan that such Multiemployer Plan is insolvent or in endangered  or critical status or is being terminated, within the meaning of Title IV of ERISA, and  such  reorganization or termination would reasonably be expected to have a Material Adverse Effect;                                          81     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (j)   The Guaranty set forth in Article X hereof shall cease to be valid and   binding on, or enforceable against, the U.S. Borrower or the U.S. Borrower shall so state in   writing; or                (k)   there shall occur any Change of Control;    then, and in any such event, the Administrative Agent (i) shall at the request, or may with the   express consent, of the Required Lenders, by notice to the U.S. Borrower, declare the obligation   of each Lender to make Loans and of the Issuing Banks to issue Letters of Credit to be   terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may   with the express consent, of the Required Lenders, by notice to the U.S. Borrower, declare the   Loans and other Obligations to be forthwith due and payable, whereupon the Loans and other   Obligations shall become and be forthwith due and payable, without presentment, demand,   protest or further notice of any kind, all of which are hereby expressly waived by each Borrower;   provided however, that upon the occurrence of any Event of Default specified in Section 7.01(e),   (A) the obligation of each Lender to make Loans and of each Issuing Bank to issue Letters of   Credit shall automatically be terminated and (B) the Loans and other Obligations shall   automatically become and be due and payable, without presentment, demand, protest or any   notice of any kind, all of which are hereby expressly waived by each Borrower.                SECTION 7.02.  Actions in Respect of the Letters of Credit Upon Event of   Default; L/C Cash Collateral Account; Investing of Amounts in the L/C Cash Collateral Account;   Release.                  (a)   Upon (i) the occurrence and during the continuance of any Event of  Default and (ii) the making of the request or the granting of the consent specified by Section 7.01   to authorize the Administrative Agent to declare the Loans due and payable pursuant to the   provisions of Section 7.01, the Administrative Agent may, and at the request of the Required   Lenders shall, irrespective of whether it is taking any of the actions described in Section 7.01 or   otherwise, make demand upon the U.S. Borrower to, and forthwith upon such demand the U.S.   Borrower will, pay to the Administrative Agent on behalf of the Lenders in same day funds at the   Administrative Agent’s office designated in such demand, for deposit in the L/C Cash Collateral   Account, an amount equal to the aggregate Available Amount of all Letters of Credit then   outstanding in the Currency of such Letters of Credit; provided however, that upon the   occurrence of any Event of Default specified in Section 7.01(e), such payments by the U.S.   Borrower pursuant to this Section 7.02(a) shall automatically be required to be made.  If at any   time the Administrative Agent determines that any funds held in the L/C Cash Collateral Account   are subject to any equal or prior right or claim of any Person other than any Agent and the   Lenders pursuant to this Agreement or that the total amount of such funds is less than the   aggregate Available Amount of all Letters of Credit, the U.S. Borrower will, forthwith upon   demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be   deposited and held in the L/C Cash Collateral Account, an amount equal to the excess of (1) such   aggregate Available Amount over (2) the total amount of funds, if any, then held in the L/C Cash   Collateral Account that the Administrative Agent determines to be free and clear of any such   equal or prior right and claim.                (b)   The U.S. Borrower hereby authorizes the Administrative Agent to open  at any time upon the occurrence and during the continuance of an Event of Default a non-interest  bearing account with the Administrative Agent at its address designated in Section 9.02 in the   name of the U.S. Borrower but in connection with which the Administrative Agent shall be the                                         82     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     sole entitlement holder or customer (the “L/C Cash Collateral Account”), and hereby pledges and   assigns and grants to the Administrative Agent on behalf of the Lenders a security interest in the   following collateral (the “L/C Cash Collateral Account Collateral”):                      (i)   the L/C Cash Collateral Account, all funds held therein and all        certificates and instruments, if any, from time to time representing or evidencing the        investment of funds held therein,                     (ii)  all L/C Cash Collateral Account Investments from time to time,        and all certificates and instruments, if any, from time to time representing or evidencing        the L/C Cash Collateral Account Investments,                      (iii) all notes, certificates of deposit, deposit accounts, checks and        other instruments from time to time delivered to or otherwise possessed by the        Administrative Agent for or on behalf of the U.S. Borrower in substitution for or in        addition to any or all of the then existing L/C Cash Collateral Account Collateral,                      (iv)  all interest, dividends, cash, instruments and other property from        time to time received, receivable or otherwise distributed in respect of or in exchange for        any or all of the then existing L/C Cash Collateral Account Collateral, and                     (v)   all proceeds of any and all of the foregoing L/C Cash Collateral        Account Collateral.                (c)   If requested by the U.S. Borrower, the Administrative Agent will, subject  to the provisions of clause (e) below, from time to time (i) invest amounts on deposit in the L/C   Cash Collateral Account in such notes, certificates of deposit and other debt instruments as the   U.S. Borrower may select and the Administrative Agent may approve and (ii) invest interest paid   on the notes, certificates of deposit and other instruments referred to in clause (i) above, and   reinvest other proceeds of any such notes, certificates of deposit and other instruments which may   mature or be sold, in each case in such notes, certificates of deposit and other debt instruments as   the U.S. Borrower may select and the Administrative Agent may approve (the notes, certificates   of deposit and other instruments referred to in clauses (i) and (ii) above being collectively “L/C   Cash Collateral Account Investments”).  Interest and proceeds that are not invested or reinvested   in L/C Cash Collateral Account Investments as provided above shall be deposited and held in the   L/C Cash Collateral Account.                (d)   Upon such time as (i) the aggregate Available Amount of all Letters of  Credit is reduced to zero and such Letters of Credit are expired or terminated by their terms and  all amounts payable in respect thereof, including but not limited to principal, interest,  commissions, fees and expenses, have been paid in full in cash, and (ii) no Event of Default has  occurred and is continuing under this Agreement, the Administrative Agent will pay and release  to the U.S. Borrower or at its order (a) accrued interest due and payable on the L/C Cash  Collateral Account Investments and in the L/C Cash Collateral Account, and (b) the balance  remaining in the L/C Cash Collateral Account after the application, if any, by the Administrative  Agent of funds in the L/C Cash Collateral Account to the payment of amounts described in  clause (i) of this subsection (d).                (e)   (i)   The Administrative Agent may, without notice to the U.S.  Borrower or any other Person except as required by law and at any time or from time to time,                                         83     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     charge, set-off and otherwise apply all or any part of the L/C Cash Collateral Account against the   obligations of the Borrowers in respect of Letters of Credit (collectively, the “L/C Cash Collateral   Account Obligations”) or any part thereof.  The Administrative Agent agrees to notify the U.S.   Borrower promptly after any such set-off and application, provided that the failure of the   Administrative Agent to give such notice shall not affect the validity of such set-off and   application.                      (ii) The Administrative Agent may also exercise in respect of the        L/C Cash Collateral Account Collateral, in addition to other rights and remedies provided        for herein or otherwise available to it, all the rights and remedies of a secured party on        default under the Uniform Commercial Code in effect in the State of New York at that        time (the “UCC”) (whether or not the UCC applies to the affected L/C Cash Collateral         Account Collateral), and may also, without notice except as specified below, sell the L/C         Cash Collateral Account Collateral or any part thereof in one or more parcels at public or         private sale, at any of the Administrative Agent’s offices or elsewhere, for cash, on credit         or for future delivery, and upon such other terms as the Administrative Agent may deem         commercially reasonable.  Each Borrower agrees that, to the extent notice of sale shall be         required by law, at least ten days’ notice to the U.S. Borrower of the time and place of         any public sale or the time after which any private sale is to be made shall constitute         reasonable notification.  The Administrative Agent shall not be obligated to make any         sale of L/C Cash Collateral Account Collateral regardless of notice of sale having been         given.  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.                      (iii) Any cash held by the Administrative Agent as L/C Cash        Collateral Account Collateral and all cash proceeds received by the Administrative Agent        in respect of any sale of, collection from, or other realization upon all or any part of the        L/C Cash Collateral Account Collateral may, in the discretion of the Administrative        Agent, be held by the Administrative Agent as collateral for, and/or then or at any time        thereafter be applied in whole or in part by the Administrative Agent against, all or any        part of the L/C Cash Collateral Account Obligations in such order as the Administrative        Agent shall elect.  Any surplus of such cash or cash proceeds held by the Administrative        Agent and remaining after payment in full of all the L/C Cash Collateral Account        Obligations shall be paid over to the U.S. Borrower or to whomsoever may be lawfully        entitled to receive such surplus.                 (f)   Upon the permanent reduction from time to time of the aggregate  Available Amount of all Letters of Credit in accordance with the terms thereof, the  Administrative Agent shall release to the U.S. Borrower amounts from the L/C Cash Collateral  Account in an amount equal to each such permanent reduction; provided that the Administrative   Agent shall not be obligated to reduce the funds or other L/C Cash Collateral Account Collateral   then held in the L/C Cash Collateral Account below that level that the Administrative Agent   reasonably determines is required to be maintained after taking into consideration any rights or   claims of any Persons other than the Administrative Agent and the Lenders.                (g)   In furtherance of the grant of the pledge and security interest pursuant to  this Section 7.02, the U.S. Borrower hereby agrees with each Lender and the Administrative   Agent that the U.S. Borrower shall give, execute, deliver, file and/or record any financing   statement, notice, instrument, document, agreement or other papers that may be necessary or                                         84     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     desirable (in the reasonable judgment of the Administrative Agent) to create, preserve, perfect or   validate the security interest granted pursuant hereto or to enable the Administrative Agent to   exercise and enforce its rights hereunder with respect to such pledge and security interests.                                  ARTICLE VIII                         THE ADMINISTRATIVE AGENT                SECTION 8.01.  Authorization and Action.  Each Lender hereby appoints and   authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such   powers under this Agreement as are delegated to the Administrative Agent by the terms hereof,   together with such powers as are reasonably incidental thereto.  As to any matters not expressly   provided for by this Agreement (including, without limitation, enforcement or collection of the   Notes), the Administrative Agent shall not be required to exercise any discretion or take any   action, but shall be required to act or to refrain from acting (and shall be fully protected in so   acting or refraining from acting) upon the instructions of the Required Lenders (or such other   number or percentage of the Lenders as shall be expressly provided for herein or in the other   Loan Documents), and such instructions shall be binding upon all Lenders and all holders of   Notes; provided that the Administrative Agent shall not be required to take any action which   exposes the Administrative Agent to personal liability or which is contrary to this Agreement or   applicable law.  The Administrative Agent agrees to give to each Lender prompt notice of each   notice given to it by any Borrower pursuant to the terms of this Agreement.                SECTION 8.02.  Reliance, Etc.                (a)   None of the Agents nor any of their respective directors, officers, agents  or employees shall be liable for any action taken or omitted to be taken by it or them under or in  connection with the Loan Documents, except for its or their own gross negligence or willful  misconduct.  Without limitation of the generality of the foregoing, the Administrative Agent:  (i)  may treat the payee of any Note as the holder thereof until the Administrative Agent receives and  accepts an Assignment and Acceptance entered into by the Lender which is the payee of such  Note, as assignor, and an Eligible Assignee, as assignee, as provided in Section 9.07; (ii) may   consult with legal counsel (including counsel for any Borrower), independent public accountants   and other experts selected by it and shall not be liable for any action taken or omitted to be taken   in good faith by it in accordance with the advice of such counsel, accountants or experts; (iii)   makes no warranty or representation to any Lender and shall not be responsible to any Lender for   any statements, warranties or representations (whether written or oral) made in or in connection   with this Agreement; (iv) shall not have any duty to ascertain or to inquire as to the performance   or observance of any of the terms, covenants or conditions of this Agreement on the part of any   Borrower or to inspect the property (including the books and records) of any Borrower; (v) shall  not be responsible to any Lender for the due execution, legality, validity, enforceability,  genuineness, sufficiency or value of this Agreement or any other instrument or document  furnished pursuant hereto; and (vi) shall incur no liability under or in respect of this Agreement  by acting upon any notice, consent, certificate or other instrument or writing (which may be by  electronic mail, telecopier, telegram, cable or telex) believed by it to be genuine and signed or  sent by the proper party or parties.                (b)   The Arrangers, as such, the Co-Documentation Agents, as such, and the  Syndication Agent, as such, each referred to on the cover page hereto, shall have no duties or                                          85     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     obligations whatsoever to the Lenders under or with respect to this Agreement, the Notes or any   other document or any matter related thereto.                SECTION 8.03.  The Agents and their Affiliates as Lenders.  With respect to its   respective Commitment as a Lender, the Loans made by it as a Lender, the Letters of Credit   issued by it as an Issuing Bank and the Notes issued to it as a Lender, each of the Agents party to   this Agreement as Lender and/or Issuing Bank shall have the same rights and powers under this   Agreement as any other Lender in its capacity as a Lender and/or any other Issuing Bank in its   capacity as Issuing Bank and may exercise the same as though it were not an Agent; and the term   “Lender” or “Lenders” shall, unless otherwise expressly indicated, include each Agent in its   individual capacity as a Lender and/or an Issuing Bank.  Each Agent, in its individual capacity as   a Lender and/or an Issuing Bank, and its affiliates may accept deposits from, lend money to, act   as trustee under indentures of, and generally engage in any kind of business with, any Borrower,   any of its Subsidiaries and any Person who may do business with or own securities of any   Borrower or any such Subsidiary, all as if the such Agent were not an Agent under this   Agreement and without any duty to account therefor to the Lenders.                SECTION 8.04.  Lender Credit Decision.  Each Lender acknowledges that it has,   independently and without reliance upon any Agent or any other Lender and based on the   financial statements referred to in Section 5.03 and such other documents and information as it   has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.    Each Lender also acknowledges that it will, independently and without reliance upon any Agent   or any other Lender and based on such documents and information as it shall deem appropriate at   the time, continue to make its own credit decisions in taking or not taking action under this   Agreement.                SECTION 8.05.  Indemnification.  The Lenders severally agree to indemnify the   Administrative Agent, each Issuing Bank and each Swing Loan Lender (in each case to the extent   the U.S. Borrower fails to pay the same pursuant to Section 9.04(b) or otherwise), ratably   according to their respective pro rata  share, from and against any and all claims, damages, losses,   liabilities and expenses of any kind or nature whatsoever which may be imposed on, incurred by,  or asserted against such Person in any way relating to or arising out of this Agreement or any  action taken or omitted by such Person under this Agreement in its respective capacity as an agent  hereunder, provided that no Lender shall be liable for any portion of such liabilities, obligations,   losses, damages, actions, judgments, suits, costs, expenses or disbursements resulting from the   gross negligence or willful misconduct of the Administrative Agent, such Issuing Bank or such   Swing Loan Lender, as applicable.  Without limitation of the foregoing, each Lender agrees to   reimburse the Administrative Agent promptly upon demand for its ratable share of any   out-of-pocket expenses (including fees and expenses of counsel but excluding normal   administrative expenses expressly excluded under Section 9.04(a)) incurred by the Administrative   Agent in connection with the preparation, execution, delivery, administration, modification,   amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or   legal advice in respect of rights or responsibilities under, this Agreement, to the extent that the   Administrative Agent is not reimbursed for such expenses by the U.S. Borrower as required under   Section 9.04(a).                SECTION 8.06.     Successor Administrative Agent.  The Administrative   Agent may resign at any time by giving written notice thereof to the Lenders and the U.S.   Borrower and may be removed at any time with or without cause by the Required Lenders.  Upon  any such resignation or removal, the Required Lenders shall have the right to appoint a successor                                         86     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Administrative Agent with the consent of the U.S. Borrower, which consent shall not be   unreasonably withheld.  If no successor Administrative Agent shall have been so appointed by the  Required Lenders, and shall have accepted such appointment, within 30 days after the retiring  Administrative Agent’s giving of notice of resignation or the Required Lenders’ removal of the   retiring Administrative Agent, then the retiring Administrative Agent may, on behalf of the   Lenders appoint a successor Administrative Agent, which shall be an Eligible Assignee and a   commercial bank organized under the laws of the United States of America or of any State   thereof and having a combined capital and surplus of at least $50,000,000.  Upon the acceptance   of any appointment as Administrative Agent hereunder by a successor Administrative Agent,   such successor Administrative Agent shall thereupon succeed to and become vested with all the   rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring   Administrative Agent shall be discharged from its duties and obligations under this Agreement.    After any retiring Administrative Agent’s resignation or removal hereunder as Administrative   Agent, the provisions of this Article VIII (The Administrative Agent) shall inure to its benefit as   to any actions taken or omitted to be taken by it while it was Administrative Agent under this   Agreement.                SECTION 8.07.  No Other Duties, Etc.  Anything herein to the contrary   notwithstanding, none of the Arrangers, the Co-Documentation Agents or the Syndication Agent  listed on the cover page hereof shall have any powers, duties or responsibilities under this  Agreement or any of the other Loan Documents, except in its capacity, as applicable, as a Lender  hereunder.                                  ARTICLE IX                               MISCELLANEOUS                SECTION 9.01.  Amendments, Etc.  No amendment or waiver of any provision   of this Agreement or the Notes, nor consent to any departure by any Borrower therefrom, shall in   any event be effective unless the same shall be in writing and signed by the Required Lenders,   and then such waiver or consent shall be effective only in the specific instance and for the   specific purpose for which given; provided however, that no amendment, waiver or consent shall,   unless in writing and signed by all the Lenders, do any of the following:  (a) waive any of the   conditions specified in Section 4.01 or 4.02, (b) reduce any fees or other amounts payable   hereunder, (c) postpone any date fixed for any payment of any fees or other amounts payable   hereunder, (d) change the percentage of the Commitments or of the aggregate unpaid principal   amount of the Loans, or the number of Lenders, which shall be required for the Lenders or any of   them to take any action hereunder, (e) release the Guaranty set forth in Article X (Guaranty) or (f)   amend this Section 9.01 or any other Section of this Agreement, the effect of which amendment is   to alter the pro rata sharing of payments or pro rata funding required thereby; and provided   further that (1) no amendment, waiver or consent shall affect the rights or duties of the   Administrative Agent, and any Issuing Bank or any Swing Loan Lender, as the case may be,   under this Agreement or any Note, unless such amendment, waiver or consent is in writing and   signed by the Administrative Agent, such Issuing Bank or such Swing Loan Lender, as the case  may be, in addition to the Lenders required above to take such action, (2) subject to the   provisions of Sections 2.06 and 2.15, no amendment, waiver or consent shall reduce the principal   of, or interest on, the Revolving Loans or Notes or postpone any date fixed for any payment of   principal of, or interest on, the Revolving Loans or Notes, unless in each case signed by all of the   Lenders, (3) no amendment, waiver or consent shall reduce the principal of, or interest on, the   Swing Loans or postpone any date fixed for any payment of principal of, or interest on, the Swing                                         87     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Loans, unless in each case signed by all of the affected Swing Loan Lenders, (4)  no amendment,   waiver or consent shall reduce the principal of, or interest on, the Letter of Credit Loans or   postpone any date fixed for any payment of principal of, or interest on, the Letter of Credit Loans,   unless in each case signed by each affected Lender, (5) subject to the provisions of Sections 2.06   and 2.15, no amendment, waiver or consent shall extend the Termination Date of the   Commitment or increase the Commitment of any Lender or subject any Lender to any additional   obligations, unless signed by such Lender and (6) no amendment, waiver or consent shall be   made to Section 2.04, unless signed by each Lender affected by such amendment, waiver or   consent.                Anything herein to the contrary notwithstanding, during such period as a Lender  is a Defaulting Lender, to the fullest extent permitted by applicable law, such Defaulting Lender  will not be entitled to vote in respect of amendments and waivers hereunder and the Commitment  and the outstanding Loans or other extensions of credit of such Lender hereunder will not be  taken into account in determining whether the Required Lenders or all of the Lenders, as  required, have approved any such amendment or waiver (and the definition of “Required   Lenders” will automatically be deemed modified accordingly for the duration of such period);   provided that any such amendment or waiver that would increase or extend the term of the   Commitment of such Defaulting Lender, extend the date fixed for the payment of principal or   interest owing to such Defaulting Lender hereunder, reduce the principal amount of any   obligation owing to such Defaulting Lender, reduce the amount of or the rate or amount of   interest on any amount owing to such Defaulting Lender or of any fee payable to such Defaulting   Lender hereunder, or alter the terms of this proviso, will require the consent of such Defaulting   Lender.                SECTION 9.02.  Notices, Etc.                  (a)   All notices and other communications provided for hereunder shall be in  writing (including telecopy communication) and mailed, telegraphed, telecopied, telexed, cabled  or delivered as follows:                     (i)   if to the U.S. Borrower:                       FMC Corporation                     FMC Tower at Cira Centre South                     2929 Walnut Street                     Philadelphia, PA 19104,                      Attention: Brian Angeli                                      Vice President, Corporate Strategy and Treasurer                     Fax Number: (215) 299-6557                     E-Mail Address: fmc_treasurer@fmc.com                                          with a copy to:                                          Morgan, Lewis & Bockius LLP                     1701 Market Street                     Philadelphia, Pennsylvania 19103                     Attention: Andrew T. Budreika                     Fax Number: (215) 963-5001                    E-Mail Address: andrew.budreika@morganlewis.com                                          88     

 

                              THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                       FMC CORPORATION                                (ii)  if to the Administrative Agent:                Citibank, N.A.               1615 Brett Road, OPS 3               New Castle, DE 19720                Attention: Bank Loan Syndications Department               Fax Number: (646) 274-5080               E-Mail Address: GLAgentOfficeOps@citi.com                E-Mail Address: oploanswebadmin@citi.com (for materials required to               be delivered pursuant to Section 6.02(a))                              with a copy to:                              388 Greenwich Street               New York, NY 10013               Attention: David Jaffe                Telephone: (212) 816-4880               Facsimile: (646) 291-1029               Email: david.jaffe@citi.com                                (iii) if to a Swing Loan Lender, at the applicable address set forth  below and with a copy to the Administrative Agent:                Citibank Europe plc, Dublin Branch              c/o Loans Processing Unit              Citibank Europe plc, Poland Branch              Prosta 36 Street              00-838 Warsaw, Poland              Fax Number: +48 (22) 692-9940              Email: westerneuropeloans@citi.com                              or                              Bank of America, N.A.               26 Elmfield Road               Bromley, Kent               BRI 1LR, United Kingdom               Fax: +44 208 313 2140               Email: emealoanoperations@baml.com                (iv)   if to a Lender, to it at its address (or email or telecopy number)  set forth in the applicable administrative questionnaire or in the applicable Acceptance.                      Any party may subsequently change its notice address by a  written notice to the other parties as herein provided.  All such notices and   communications shall, (a) when mailed, be effective three Business Days after the same   is deposited in the mails, (b) when mailed for next day delivery by a reputable freight   company or reputable overnight courier service, be effective one Business Day thereafter,   and (c) when sent by telegraph, telecopy, telex or cable, be effective when the same is                                   89                    

 

                              THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                       FMC CORPORATION     telegraphed, telecopied and receipt thereof is confirmed by telephone or return telecopy,   confirmed by telex answerback or delivered to the cable company, respectively, except  that notices and communications to the Administrative Agent pursuant to Article II   (Amounts and Terms of Loans), III (Making the Loans and Issuing the Letters of Credit)   or VIII (The Administrative Agent) shall not be effective until received by the   Administrative Agent.          (b)   Electronic Communications.                (i)   Delivery of Communications by the U.S. Borrower.  The U.S.   Borrower (on behalf of itself and on behalf of each Borrower) agrees that, unless   otherwise requested by the Administrative Agent, it will provide to the Administrative   Agent all information, documents and other materials that it is obligated to furnish to the  Administrative Agent pursuant to this Agreement and the other Loan Documents,  including, without limitation, all notices, requests, financial statements, financial and  other reports, certificates and other information materials, but excluding any such  communication that (A) relates to a request for a new, or a Conversion of an existing,  Borrowing (including any election of an interest rate or Interest Period relating thereto),  (B) relates to the payment of any principal or other amount due under this Agreement  prior to the scheduled date therefor, (C) provides notice of any Default or Event of   Default under this Agreement, (D) is required to be delivered to satisfy any condition   precedent in Article IV (Conditions of Lending) relating to the effectiveness of this   Agreement and/or any Borrowing or (E) initiates or responds to legal process (all such  non-excluded information being referred to herein collectively as the  “Communications”), by transmitting the Communications in an electronic/soft medium   (provided such Communications contain any required signatures) in a format acceptable   to the Administrative Agent to the email address specified in Section 9.02(a) above or   such other e-mail address designated by the Administrative Agent from time to time.                (ii) Use of Web Platforms.  Each party hereto agrees that the   Administrative Agent may make the Communications available to the Lenders by posting   the Communications on DebtDomain, IntraLinks, SyndTrak or another similar website, if   any, to which each Lender and the Administrative Agent have access (the “Platform”).    Nothing in this Section 9.02 shall prejudice the right of the Administrative Agent to make   the Communications available to the Lenders in any other manner specified in this   Agreement.                (iii) E-mail Notification to Lenders.  Each Lender agrees that e-mail   notice to it (at the address provided pursuant to the next sentence and deemed delivered  as provided in the next paragraph) specifying that Communications have been posted to  the Platform shall constitute effective delivery of such Communications to such Lender   for purposes of this Agreement.  Each Lender agrees (i) to notify the Administrative   Agent in writing (including by electronic communication) from time to time to ensure   that the Administrative Agent has on record an effective e-mail address for such Lender   to which the foregoing notice may be sent by electronic transmission, and (ii) that the   foregoing notice may be sent to such e-mail address.                (iv)  Presumption as to Delivery of E-Mail.  Each party agrees that   any electronic communication referred to in this Section 9.02 shall be deemed delivered   upon the posting of a record of such communication as “received” in the e-mail system of                                   90                    

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION           the recipient; provided that if such communication is not so received during normal         business hours, such communication shall be deemed delivered at the opening of business         on the next Business Day.                      (v)   Waiver of Responsibility.  Each party acknowledges that (A) the         distribution of material through an electronic medium is not necessarily secure and that        there are confidentiality and other risks associated with such distribution, (B) the         Communications and the Platform are provided “as is” and “as available,” (C) none of         the Administrative Agent, its affiliates or any of their respective officers, directors,         employees, agents, advisors or representatives (collectively, the “Citigroup Parties”)         warrants the adequacy, accuracy or completeness of the Communications or the Platform,         and each Citigroup Party expressly disclaims liability for errors or omissions in any         Communications or the Platform, and (D) no warranty of any kind, express, implied or         statutory, including, without limitation, any warranty of merchantability, fitness for a         particular purpose, non-infringement of third party rights or freedom from viruses or         other code defects, is made by any Citigroup Party in connection with any         Communications or the Platform.                      (vi)  Limitation on use of Platform.  Notwithstanding the foregoing, if         the U.S. Borrower has any reason to believe that either the confidentiality of the         Platform, the confidentiality of electronic transmissions to the Administrative Agent, or         the integrity of Communications posted on the Platform has, may have or may in the         future be compromised, then the U.S. Borrower may upon notice to the Administrative         Agent delivered in any manner permitted under this Agreement, either (1) suspend its         obligation hereunder to transmit Communications to the Administrative Agent by         electronic/soft medium, (2) instruct the Administrative Agent not to transmit to the        Platform any as yet un-posted Communications, and/or (3) instruct the Administrative        Agent to take commercially reasonable steps to remove any currently posted        Communications from the Platform.  In the event that the use of the Platform should be        suspended due to any of the circumstances described in this paragraph, the U.S. Borrower        agrees to deliver the Communications to each Lender via e-mail.  The Lenders agree that        the delivery of the Communications via e-mail shall be deemed effective upon the        posting of a record of such electronic transmission as “sent” in the e-mail system of the        U.S. Borrower.  The Administrative Agent agrees to immediately inform the U.S.        Borrower of any security issue or Communications integrity issue that comes to its        attention and relates to the Platform or the Administrative Agent’s receipt of electronic        Communications.                SECTION 9.03.  No Waiver; Remedies.  No failure on the part of any Lender the   Administrative Agent to exercise, and no delay in exercising, any right hereunder or under any   Note shall operate as a waiver thereof; nor shall any single or partial exercise of any such right   preclude any other or further exercise thereof or the exercise of any other right.  The remedies  herein provided are cumulative and not exclusive of any remedies provided by law.                SECTION 9.04.  Costs and Expenses.                  (a)   The U.S. Borrower agrees to pay, whether or not any of the transactions  contemplated hereby are consummated, on demand (x) all reasonable costs and expenses in  connection with the preparation (excluding normal travel and related expenses incurred by the  personnel of the Administrative Agent), execution, delivery, administration (excluding those                                         91     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     which are customarily borne by the Administrative Agent), modification and amendment of this  Agreement, the Notes and the other documents to be delivered hereunder, and (y) the reasonable   fees and expenses of counsel to the Administrative Agent and with respect to advising the   Administrative Agent as to its rights and responsibilities under this Agreement.  The U.S.   Borrower further agrees to pay on demand all reasonable expenses of the Lenders (including,   without limitation, reasonable fees and expenses of counsel (including, without duplication,  internal counsel)) in connection with the enforcement (whether through negotiations, legal  proceedings or otherwise) of this Agreement, the Notes and the other documents to be delivered  hereunder, including, without limitation, reasonable counsel fees and expenses in connection with   the enforcement of rights under this Section 9.04(a).                (b)   Each Borrower agrees to indemnify and hold harmless the  Administrative Agent, each Lender and each of their Affiliates and their officers, directors,  employees, agents and advisors (each, an “Indemnified Party”) from and against any and all   claims, damages, penalties, losses, liabilities and expenses (including, without limitation,  reasonable fees and expenses of counsel) that may be incurred by or asserted or awarded against  any Indemnified Party in its agent or lending capacity under, or otherwise in connection with, the  Loan Documents, in each case arising out of or in connection with or by reason of, or in  connection with the preparation for a defense of, any investigation, litigation or proceeding  arising out of, related to or in connection with the Loan Documents, the proposed or actual use of  the proceeds therefrom or any of the other transactions contemplated thereby, whether or not such  investigation, litigation or proceeding is brought by a Borrower, its shareholders or creditors or an  Indemnified Party or any other person or an Indemnified Party is otherwise a party thereto and  whether or not the transactions contemplated hereby are consummated, except to the extent such  claim, damage, loss, liability or expense is found in a final, non-appealable judgment by a court  of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such  Indemnified Party or any of its Related Parties.  Each Borrower also agrees not to assert any  claim against the Administrative Agent, any Lender, any of their Affiliates, or any of their  respective directors, officers, employees, attorneys and agents, on any theory of liability, for  consequential, indirect, special or punitive damages arising out of or otherwise relating to any of  the Loan Documents or any of the transactions contemplated hereby or thereby or the actual or  proposed use of the proceeds of the Loans; provided that such waiver of consequential, indirect,   special or punitive damages shall not limit the indemnification obligations of the Borrowers under   this Section 9.04(b).  Each of the Lenders and the Administrative Agent agrees not to assert any   claim against the U.S. Borrower, its Affiliates or any of their directors, officers, employees,   attorneys and agents, on any theory of liability, for consequential, indirect, special or punitive   damages arising out of or otherwise relating to any of the Loan Documents or any of the   transactions contemplated hereby or thereby or the actual or proposed use of the proceeds of the   Loans or the Letters of Credit. For purposes of this Section 9.04(b), a “Related Party” of an   Indemnified Party means (i) any controlling Person, controlled Affiliate or Subsidiary of such   Indemnified Party and (ii) the respective directors, officers or employees of such Indemnified   Party or any of its Subsidiaries, controlled Affiliates or controlling Persons; provided that each   reference to a controlling Person, controlled Affiliate, director, officer or employee in this   sentence pertains to a controlling Person, controlled Affiliate, director, officer or employee   involved in the preparation of the Loan Documents or the other transactions contemplated   thereby.                  (c)   If (i) any payment of principal of any Eurocurrency Rate Loan is made   other than on the last day of the Interest Period for such Loan, as a result of a payment pursuant to                                         92     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Section 2.15(c) or 3.05 or acceleration of the maturity of the Loans pursuant to Section 7.01 or for   any other reason, (ii) the U.S. Borrower gives notice of a Loan conversion pursuant to  Section 2.09(c), or (iii) a Eurocurrency Loan is assigned other than on the last day of the Interest   Period for such Loan as a result of a request of the Borrower pursuant to Section 3.08, then the   U.S. Borrower shall, upon demand by any Lender (with a copy of such demand to the   Administrative Agent), pay to the Administrative Agent for the account of such Lender any   amounts required to compensate such Lender for any additional losses, costs or expenses which it   may reasonably incur as a result of such payment, including, without limitation, any loss   (excluding loss of anticipated profits), cost or expense incurred by reason of the liquidation or   reemployment of deposits or other funds acquired by any Lender to fund or maintain such Loan.                (d)   Without prejudice to the survival of any other agreement of the U.S.  Borrower or the Lenders hereunder, the agreements and obligations of the U.S. Borrower  contained in Sections 2.12, 3.05 and 9.04, and the agreements and obligations of each Lender   under Section 9.11, and the agreements and obligations of each party hereto under Sections 9.09,   9.12 and 9.13 shall survive the payment in full of principal, interest and all other amounts payable   hereunder and under the Notes.                SECTION 9.05.  Rights of Set-off; Payments Set Aside.                  (a)   Upon the occurrence and during the continuance of any Event of Default  each Lender and each Affiliate of a Lender is hereby authorized at any time and from time to  time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or  special, time or demand, provisional or final) at any time held and other indebtedness at any time  owing by such Lender or its Affiliates to or for the credit or the account of the U.S. Borrower  against any and all of its obligations under the Loan Documents, of a Euro Borrower against any  and all of such Euro Borrower’s obligations under the Loan Documents or of a Swing Loan  Borrower against any and all of such Swing Loan Borrower’s obligations under the Loan  Documents, in each case, now or hereafter existing whether or not such Lender shall have made  any demand under this Agreement or any other Loan Document and even though such  Obligations may be unmatured; provided that in the event that any Defaulting Lender shall   exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the   Administrative Agent for further application in accordance with the provisions of Section   2.16(a)(iii) and, pending such payment, shall be segregated by such Defaulting Lender from its   other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders,   and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement   describing in reasonable detail the obligations owing to such Defaulting Lender as to which it   exercised such right of setoff. Each Lender agrees promptly to notify the U.S. Borrower after any   such set-off and application made by such Lender or its Affiliates; provided however, that the   failure to give such notice shall not affect the validity of such set-off and application.  The rights  of each Lender under this Section 9.05 are in addition to the other rights and remedies (including   other rights of set-off) that such Lender may have.                (b)   To the extent that the U.S. Borrower makes a payment or payments to  the Administrative Agent or the Lenders or any such Person exercise their rights of setoff, and  such payment or payments or the proceeds of such enforcement or setoff or any part thereof are  subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be  repaid to a trustee, receiver or any other party, then to the extent of such recovery, the obligation  or part thereof originally intended to be satisfied shall be revived and continued in full force and  effect as if such payment had not been made or such enforcement or setoff had not occurred.                                         93     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 SECTION 9.06.  Binding Effect.  This Agreement shall become effective when it   shall have been executed by the U.S. Borrower, the Administrative Agent and each Lender and   thereafter shall be binding upon and inure to the benefit of the Borrowers, the Administrative   Agent and each Lender and their respective successors and assigns, except that no Borrower or   the Guarantor shall have the right to assign its rights or obligations hereunder or any interest   herein without the prior written consent of each Lender.                SECTION 9.07.  Assignments and Participations.                 (a)   Each Lender may assign to one or more banks or other entities all or a  portion of its rights and obligations under this Agreement (including, without limitation, all or a  portion of its Commitments, the Loans owing to it and the Note or Notes held by it); provided   however, that:                      (i)   each such assignment shall be of a constant, and not a varying,        percentage of all rights and obligations under this Agreement (other than any Swing        Loans),                      (ii) the amount of the Commitments and/or Loans of the assigning        Lender being assigned pursuant to each such assignment other than an assignment to        another Lender (determined as of the date of the Assignment and Acceptance with        respect to such assignment) shall in no event be less than $10,000,000 and shall be an        integral multiple of $1,000,000 in excess thereof,                       (iii) each such assignment shall be to an Eligible Assignee, and         (unless such assignment shall be to a Lender, an Affiliate of such Lender, a Subsidiary of         the assigning Lender, or to the bank holding company or a Subsidiary of the bank holding         company of which the assigning Lender is a Subsidiary) the U.S. Borrower, the         Administrative Agent, the Issuing Banks and the Swing Loan Lenders shall have been        notified by the Administrative Agent prior to such assignment and shall have consented        to such assignment (which consents shall not be unreasonably withheld or delayed);        provided that no consent of the U.S. Borrower shall be required if an Event of Default         under Section 7.01(a) or (e) has occurred and is continuing; provided further, that the         consent of the U.S. Borrower shall be deemed to have been received with respect to any         such proposed assignment unless the U.S. Borrower has notified the Administrative        Agent in writing of its objection thereto within 10 Business Days of the U.S. Borrower’s         receipt of written notice thereof, and                       (iv)  the parties to each such assignment shall execute and deliver to        the Administrative Agent, for its acceptance and recording in the Register, an Assignment        and Acceptance, together with any Note or Notes subject to such assignment and a        processing and recordation fee of $3,500 paid by either the assigning Lender or the        assignee; provided that the Administrative Agent may, in its sole discretion, elect to         waive such recordation fee in the case of any such assignment.    Upon such execution, delivery, acceptance and recording, from and after the effective date   specified in each Assignment and Acceptance, (x) the assignee thereunder shall be a party hereto  and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such  Assignment and Acceptance, have the rights and obligations of a Lender hereunder and (y) the  Lender assignor thereunder shall relinquish its rights and be released from its obligations under                                         94     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     this Agreement, to the extent that rights and obligations hereunder have been assigned by it   pursuant to such Assignment and Acceptance.               Notwithstanding anything to the contrary contained herein except for the  conditions set for in clause (iv) of this Section 9.07(a), any Lender (a “Granting Lender”) may   grant to a special purpose funding vehicle (a “SPC”), identified as such in writing from time to   time by the Granting Lender to the Administrative Agent and the U.S. Borrower, the option to   provide to a Borrower all or any part of a Loan that such Granting Lender would otherwise be   obligated to make to such Borrower pursuant to this Agreement; provided that (i) nothing herein   shall constitute a commitment by any SPC to make any Loan, (ii) if an SPC elects not to exercise   such option or otherwise fails to provide all or any part of such Advance, the Granting Lender   shall be obligated to make such Loan pursuant to the terms hereof.  The making of a Loan by an   SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if,   such Loan were made by such Granting Lender.  Each party hereto hereby agrees that no SPC   shall be liable for any indemnity or similar payment obligation under this Agreement (all liability   for which shall remain with the Granting Lender).  In furtherance of the foregoing, each party   hereto hereby agrees (which agreement shall survive the termination of this Agreement) that,   prior to the date that is one year and one day after the payment in full of all outstanding   commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any   other person in instituting against, such SPC any bankruptcy, reorganization, arrangement,   insolvency or liquidation proceedings under the laws of the United States or any State thereof.  In   addition, notwithstanding anything to the contrary contained in this Section 9.07 except for the   conditions set forth in clause (iii) of this Section 9.07(a), any SPC may (i) with notice to, but   without the prior written consent of, the U.S. Borrower and the Administrative Agent and without   paying any processing fee therefor, assign all or a portion of its interests in any Loans to the   Granting Lender or to any Eligible Assignee (consented to by the U.S. Borrower and the   Administrative Agent) providing liquidity and/or credit support to or for the account of such SPC   to support the funding or maintenance of Loans and (ii) disclose on a confidential basis any non- public information relating to its Loans to any rating agency, commercial paper dealer or provider  of any surety, guarantee or credit or liquidity enhancement to such SPC.  This paragraph may not  be amended without the written consent of the SPC.                (b)   By executing and delivering an Assignment and Acceptance, the Lender  assignor thereunder and the assignee thereunder confirm to and agree with each other and the  other parties hereto as follows: (i) other than as provided in such Assignment and Acceptance,  such assigning Lender makes no representation or warranty and assumes no responsibility with  respect to any statements, warranties or representations made in or in connection with this  Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of  this Agreement or any other instrument or document furnished pursuant hereto; (ii) such  assigning Lender makes no representation or warranty and assumes no responsibility with respect  to the financial condition of any Borrower or the performance or observance by any Borrower of  any of its obligations under this Agreement or any other instrument or document furnished  pursuant hereto; (iii) such assignee confirms that it has received a copy of this Agreement,  together with copies of the financial statements referred to in Section 5.03 and such other   documents and information as it has deemed appropriate to make its own credit analysis and   decision to enter into such Assignment and Acceptance; (iv) such assignee will, independently   and without reliance upon any Agent, such assigning Lender or any other Lender and based on   such documents and information as it shall deem appropriate at the time, continue to make its   own credit decisions in taking or not taking action under this Agreement; (v) such assignee                                         95     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     confirms that it is an Eligible Assignee; (vi) such assignee appoints and authorizes the   Administrative Agent to take such action as agent on its behalf and to exercise such powers under   this Agreement as are delegated to the Administrative Agent by the terms hereof, together with   such powers as are reasonably incidental thereto; and (vii) such assignee agrees that it will   perform in accordance with their terms all of the obligations which by the terms of this   Agreement are required to be performed by it as a Lender.               (c)   Each New Lender shall submit a New Commitment Acceptance in  accordance with the provisions of Section 2.06(b).  Upon the execution, delivery, acceptance and   recording of a New Commitment Acceptance, from and after the Increase Date related thereto   such New Lender shall be a party hereto and have the rights and obligations of a Lender   hereunder having the Commitment specified therein (or such lesser Commitment as shall be   allocated to such New Lender in accordance with Section 2.06(b)(vi) or 2.15(d)).  By executing   and delivering a New Commitment Acceptance, the New Lender thereunder confirms to and   agrees with the other parties hereto as follows:  (i) such New Lender hereby agrees that no Lender   has made any representation or warranty, or assumes any responsibility with respect to, (x) any   statements, warranties or representations made in or in connection with this Agreement or the   execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement   or any other instrument or document furnished pursuant hereto or (y) the financial condition of   any Borrower or the performance or observance by any Borrower of any of its obligations under   this Agreement or any other instrument or document furnished pursuant hereto; (ii) such New   Lender confirms that it has received a copy of this Agreement, together with copies of the   financial statements referred to in Section 5.03 and such other documents and information as it   has deemed appropriate to make its own credit analysis and decision to enter into such New   Commitment Acceptance; (iii) such New Lender will, independently and without reliance upon   any Agent or any other Lender and based on such documents and information as it shall deem   appropriate at the time, continue to make its own credit decisions in taking or not taking action   under this Agreement; (iv) such New Lender confirms that it is an Eligible Assignee; (v) such   New Lender appoints and authorizes the Administrative Agent to take such action as agent on its   behalf and to exercise such powers under this Agreement as are delegated to the Administrative   Agent by the terms hereof, together with such powers as are reasonably incidental thereto; and   (vi) such New Lender agrees that it will perform in accordance with their terms all of the   obligations which by the terms of this Agreement are required to be performed by it as a Lender.                (d)   The Administrative Agent, acting solely for this purpose as a non- fiduciary agent of the Borrowers, shall maintain at its address referred to in Section 9.02 a copy   of each Assignment and Acceptance and each New Commitment Acceptance delivered to and   accepted by it and a register for the recordation of the names and addresses of the Lenders and the   Commitments of, and principal and interest amounts of the Loans owing to, each Lender from   time to time (the “Register”).  The entries in the Register shall be conclusive and binding for all   purposes, absent manifest error, and each Borrower, the Administrative Agent and the Lenders   may treat each Person whose name is recorded in the Register as a Lender hereunder for all   purposes of this Agreement.  The Register shall be available for inspection by the U.S. Borrower   or any Lender at any reasonable time and from time to time upon reasonable prior notice.  The   Administrative Agent shall provide the U.S. Borrower with a copy of the Register upon  reasonable request.                (e)   (i)   Upon its receipt of an Assignment and Acceptance executed by   an assigning Lender and an assignee representing that it is an Eligible Assignee, together with any                                          96     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Revolving Loan Note or Notes subject to such assignment, the Administrative Agent shall, if such   Assignment and Acceptance has been completed and is in substantially the form of Exhibit C-1   hereto, (1) accept such Assignment and Acceptance, (2) record the information contained therein  in the Register and (3) give prompt notice thereof to the U.S. Borrower.  Within five Business  Days after its receipt of such notice, the relevant Borrower, at its own expense, shall execute and  deliver to the Administrative Agent in exchange for the surrendered Revolving Loan Note or  Notes a new Revolving Loan Note to the order of such Eligible Assignee in an amount equal to  the Commitments and/or Loans assumed by it pursuant to such Assignment and Acceptance and a  new Revolving Loan Note to the order of the assigning Lender in an amount equal to the  Commitments and/or Loans retained by it hereunder.  Such new Revolving Loan Notes shall be in  an aggregate principal amount equal to the aggregate principal amount of such surrendered  Revolving Loan Note or Notes, shall be dated the effective date of such Assignment and  Acceptance and shall otherwise be in substantially the form of Exhibit A-l hereto.  Such   surrendered Revolving Loan Note or Notes shall be marked “canceled” and shall be returned   promptly to the U.S. Borrower.                      (ii) Upon its receipt of a New Commitment Acceptance executed by        a New Lender representing that it is an Eligible Assignee, the Administrative Agent shall,        if such New Commitment Acceptance has been completed and is in substantially the        form of Exhibit C-3 hereto, (1) accept such New Commitment Acceptance, (2) record the         information contained therein in the Register and (3) give prompt notice thereof to the         U.S. Borrower.  Within five Business Days after its receipt of such notice, the relevant         Borrower, at its own expense, shall execute and deliver to the Administrative Agent a         new Revolving Loan Note to the order of such New Lender in an amount equal to the         Commitments assumed by it pursuant to such New Commitment Acceptance.  Such new         Revolving Loan Note shall be dated the relevant Increase Date and shall otherwise be in         substantially the form of Exhibit A-l hereto.                  (f)   Each Lender may, without the consent of, or notice to, any Borrower, the   Administrative Agent or any other Person, sell participations to one or more banks or other  entities (other than (x) any natural person (or a holding company, investment vehicle or trust for,  or owned and operated for the primary benefit of, a natural person), (y) any Borrower or any  Affiliates of such Borrower or (z) any Defaulting Lender) in or to a portion of its rights and  obligations under this Agreement (including, without limitation, a portion of its Commitments,  the Loans owing to it and the Note or Notes held by it); provided however, that (i) such Lender’s   obligations under this Agreement (including, without limitation, its Commitments hereunder)   shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties  hereto for the performance of such obligations, (iii) such Lender shall remain the holder of any  such Note for all purposes of this Agreement, (iv) the Borrowers, the Administrative Agent, the  Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in  connection with such Lender’s rights and obligations under this Agreement, (v) except in the case  of a participation involving a Lender and one of its Affiliates (and this exception shall apply only  so long as the participant remains an Affiliate of such Lender), the parties to each such  participation shall execute a participation agreement in substantially the form of the Participation  Agreement, and (vi) no participant under any such participation shall have any right to approve   any amendment to or waiver of any provision of any Loan Document, or any consent to any   departure by any Borrower therefrom, except to the extent that such amendment, waiver or   consent would alter the principal of, or interest on, the Loan or Loans in which such participant is   participating or any fees or other amounts payable to the Lenders hereunder, or postpone any date                                         97     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     fixed for any payment of principal of, or interest on, the Loans or any fees or other amounts   payable hereunder.  Each Lender shall provide the U.S. Borrower with a list of entities party to all  Participation Agreements with such Lender upon request.  Notwithstanding anything in this  paragraph to the contrary, any bank that is a member of the Farm Credit System that (a) has  purchased a participation of at least $10,000,000 on or after the Effective Date, (b) is, by written  notice to the U.S. Borrower and the Administrative Agent (“Voting Participant Notification”),   designated by the selling Lender as being entitled to be accorded the rights of a Voting Participant   hereunder (any bank that is a member of the Farm Credit System so designated being called a   “Voting Participant”) and (c) receives the prior written consent of the U.S. Borrower and the   Administrative Agent to become a Voting Participant, shall be entitled to vote (and the voting   rights of the selling Lender shall be correspondingly reduced), on a dollar-for-dollar basis, as if   such participant were a Lender, on any matter requiring or allowing a Lender to provide or   withhold its consent, or to otherwise vote on any proposed action. To be effective, each Voting   Participant Notification shall, with respect to any Voting Participant, (i) state the full name, as   well as all contact information required of an assignee as set forth in Exhibit C-1 hereto and (ii)   state the dollar amount of the participation purchased. The U.S. Borrower and the Administrative   Agent shall be entitled to conclusively rely on information contained in notices delivered   pursuant to this paragraph.  The Borrowers agree that each Participant shall be entitled to the  benefits of Sections 2.12 and 3.05 (subject to the requirements and limitations therein, including   the requirements under Section 2.12(g) (it being understood that the documentation required   under Section 2.12(g) shall be delivered to the participating Lender)) to the same extent as if it   were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this   Section; provided that such Participant (A) agrees to be subject to the provisions of Section 3.07   as if it were an assignee under paragraph (a) of this Section; and (B) shall not be entitled to   receive any greater payment under Section 2.12 or 3.05, with respect to any participation, than its   participating Lender would have been entitled to receive, except to the extent such entitlement to   receive a greater payment results from a Change in Law that occurs after the Participant acquired   the applicable participation. To the extent permitted by law, each Participant also shall be entitled   to the benefits of Section 9.05 as though it were a Lender; provided that such Participant agrees to   be subject to Section 2.13 as though it were a Lender. Each Lender that sells a participation shall,   acting solely for this purpose as a non-fiduciary agent of the U.S. Borrower, maintain a register   on which it enters the name and address of each participant and the principal and interest amounts   of each participant’s interest in the Loans or other obligations hereunder (the “Participant   Register”); provided that no Lender shall have any obligation to disclose all or any portion of the   Participant Register to any Person (including the identity of any participant or any information   relating to a participant’s interest in any Loan or other obligation hereunder) except to the extent   that such disclosure is necessary to establish that such Loan or other obligation is in registered   form under Section 5f.103−1(c) of the United States Treasury Regulations.  The entries in the   Participant Register shall be conclusive and binding for all purposes, absent manifest error, and   such Lender shall treat each Person whose name is recorded in the Participant Register as the   owner of such participation for all purposes of this Agreement notwithstanding any notice to the   contrary.  For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative   Agent) shall have no responsibility for maintaining a Participant Register.                (g)   Any Lender may, in connection with any assignment or participation or  proposed assignment or participation pursuant to this Section 9.07, disclose to the assignee or   participant or proposed assignee or participant, any information, including Confidential   Information, relating to the Borrowers furnished to such Lender by or on behalf of the Borrowers;   provided that, prior to any such disclosure of Confidential Information, the assignee or participant                                         98     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     or proposed assignee or participant shall be informed of the confidential nature of such   Confidential Information and shall agree to (i) preserve the confidentiality of any Confidential   Information relating to the Borrowers received by it from such Lender and (ii) be bound by the   provisions of Section 9.11.                (h)   Notwithstanding any other provision in this Agreement, an Eligible  Assignee shall not be entitled to receive any greater payment under Section 2.12 or 3.05 than the   assigning Lender would have been entitled to receive, except to the extent such entitlement to   receive a greater payment results from a change in law that occurs after the effective date of such   assignment.                (i)   Notwithstanding any other provision set forth in this Agreement, any  Lender may at any time and without the consent of the Administrative Agent or any Borrower  create a security interest in all or any portion of its rights under this Agreement (including,  without limitation, the Loans owing to it and the Notes held by it), including in favor of any  Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal  Reserve System or any other central banking authority.                SECTION 9.08.  No Liability of the Issuing Banks.  Each Borrower assumes all   risks of the acts or omissions of any beneficiary or transferee of any Letter of Credit with respect   to its use of such Letter of Credit.  Neither any Issuing Bank nor any of their respective officers or   directors shall be liable or responsible for:  (a) the use that may be made of any Letter of Credit or   any acts or omissions of any beneficiary or transferee in connection therewith; (b) the validity,   sufficiency or genuineness of documents, or of any endorsement thereon, even if such documents   should prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by   any Issuing Bank against presentation of documents that do not comply with the terms of a Letter   of Credit, including failure of any documents to bear any reference or adequate reference to the   Letter of Credit; or (d) any other circumstances whatsoever in making or failing to make payment   under any Letter of Credit, except that each Borrower shall have a claim against an Issuing Bank,   and such Issuing Bank shall be liable to such Borrower, to the extent of any direct, but not   consequential, damages suffered by such Borrower that were caused by (i) such Issuing Bank’s   willful misconduct or gross negligence in determining whether documents presented under any   Letter of Credit comply with the terms of the Letter of Credit or (ii) such Issuing Bank’s willful   failure to make lawful payment under a Letter of Credit after the presentation to it of a draft and   certificates strictly complying with the terms and conditions of the Letter of Credit.  In   furtherance and not in limitation of the foregoing, each Issuing Bank acting in good faith may   accept documents that appear on their face to be in order, without responsibility for further   investigation, regardless of any notice or information to the contrary.                SECTION 9.09.  Governing Law.  THIS AGREEMENT, AND ALL CLAIMS   OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) THAT   MAY BE BASED UPON, ARISE OUT OF OR RELATE IN ANY WAY TO THIS   AGREEMENT, THE EXECUTION OR PERFORMANCE OF THIS AGREEMENT OR THE   TRANSACTIONS CONTEMPLATED HEREBY, SHALL BE GOVERNED BY, AND   CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK,   WITHOUT REGARD TO ANY PRINCIPLE OF CONFLICTS OF LAW THAT COULD   REQUIRE THE APPLICATION OF ANY OTHER LAW.                  SECTION 9.10.  Execution in Counterparts.  This Agreement may be executed in   any number of counterparts and by different parties hereto in separate counterparts, each of which                                         99     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     when so executed shall be deemed to be an original and all of which taken together shall   constitute one and the same agreement.  Delivery of an executed counterpart of this Agreement   by telecopier shall be effective as delivery of a manually executed counterpart of this Agreement.                SECTION 9.11.  Confidentiality.  Each of the Administrative Agent and the   Lenders agrees to maintain the confidentiality of the Confidential Information (as defined below),   except that Confidential Information may be disclosed (a) to its Affiliates and to its and its   Affiliates’ respective managers, administrators, trustees, partners, directors, officers, employees,   agents, advisors and other representatives (it being understood that the Persons to whom such   disclosure is made will be informed of the confidential nature of such Confidential Information   and instructed to keep such Confidential Information confidential), (b) to the extent requested by   any regulatory authority purporting to have jurisdiction over it (including any self-regulatory   authority, such as the National Association of Insurance Commissioners), (c) to the extent   required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any   other party hereto, (e) in connection with the exercise of any remedies hereunder or under any   other Loan Document or any action or proceeding relating to this Agreement or any other Loan   Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement   containing provisions substantially the same as those of this Section 9.11, to (i) any assignee of or   Participant in, or any prospective assignee of or Participant in, any of its rights or obligations   under this Agreement, (ii) any actual or prospective party (or its managers, administrators,   trustees, partners, directors, officers, employees, agents, advisors and other representatives) to  any swap or derivative or similar transaction under which payments are to be made by reference   to the U.S. Borrower and its obligations, this Agreement or payments hereunder, (iii) any rating  agency or (iv) the CUSIP Service Bureau or any similar organization, (g) with the consent of the  U.S. Borrower, (h) to any credit insurance provider or (i) to the extent such Confidential  Information (x) becomes publicly available other than as a result of a breach of this Section 9.11   or (y) becomes available to the Administrative Agent, any Lender or any of their respective   Affiliates on a nonconfidential basis from a source other than the U.S. Borrower.    For purposes of this Section 9.11, “Confidential Information” means all information received   from the U.S. Borrower or any of its Subsidiaries or any of their respective certified public   accountants (including the Borrowers’ Accountants) relating to the U.S. Borrower or any of its   Subsidiaries or any of their respective businesses, other than any such information that is   available to the Administrative Agent or any Lender on a nonconfidential basis prior to disclosure   by the U.S. Borrower or any of its Subsidiaries, provided that, in the case of information received   from the U.S. Borrower or any of its Subsidiaries after the date hereof, such information is clearly   identified at the time of delivery as confidential.  Any Person required to maintain the   confidentiality of Confidential Information as provided in this Section 9.11 shall be considered to   have complied with its obligation to do so if such Person has exercised the same degree of care to   maintain the confidentiality of such Confidential Information as such Person would accord to its   own confidential information.                SECTION 9.12.  Submission to Jurisdiction; Service of Process.                  (a)   Any legal action or proceeding brought by any Borrower or any of its  respective Affiliates with respect to this Agreement or any other Loan Document shall be brought  exclusively in the courts of the State of New York located in the City of New York, borough of  Manhattan, or of the United States of America for the Southern District of New York.  By  execution and delivery of this Agreement, each Borrower hereby accepts for itself and in respect  of its property, generally and unconditionally, the jurisdiction of the aforesaid courts.  The parties                                        100     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     hereto hereby irrevocably waive any objection, including any objection to the laying of venue or   based on the grounds of forum non conveniens, that any of them may now or hereafter have to the   bringing of any such action or proceeding in such respective jurisdictions.               (b)   Each Borrower hereby irrevocably consents to the service of any and all  legal process, summons, notices and documents in any suit, action or proceeding brought in the  United States of America arising out of or in connection with this Agreement or any other Loan  Document by the mailing (by registered or certified mail, postage prepaid) or delivering of a copy  of such process to the U.S. Borrower at its address specified in Section 9.02.  Each Borrower   agrees that a final judgment in any such action or proceeding shall be conclusive and may be   enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.                (c)   Nothing contained in this Section 9.12 shall affect the right of the   Administrative Agent or any Lender to serve process in any other manner permitted by law or   commence legal proceedings or otherwise proceed against the Borrowers in any other   jurisdiction.                SECTION 9.13.  WAIVER OF JURY TRIAL.  EACH BORROWER, THE   ADMINISTRATIVE AGENT, EACH ISSUING BANK AND EACH OF THE LENDERS   HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION,   PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR   OTHERWISE) ARISING OUT OF OR RELATING TO ANY OF THE LOAN DOCUMENTS,   THE LOANS, THE LETTERS OF CREDIT OR THE ACTIONS OF THE ADMINISTRATIVE   AGENT, ANY ISSUING BANK OR ANY LENDER IN THE NEGOTIATION,   ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.                SECTION 9.14.  Judgment Currency.  This is an international loan transaction in   which the specification of Dollars or an Alternate Currency, as the case may be (the “Specified   Currency”), any payment in New York City or the country of the Specified Currency, as the case   may be (the “Specified Place”), is of the essence, and the Specified Currency shall be the   currency of account in all events relating to Loans denominated in the Specified Currency.  The   payment obligations of the Borrowers under this Agreement and the Notes shall not be discharged   by an amount paid in another currency or in another place, whether pursuant to a judgment or   otherwise, to the extent that the amount so paid on conversion to the Specified Currency and   transfer to the Specified Place under normal banking procedures does not yield the amount of the   Specified Currency at the Specified Place due hereunder.  If for the purpose of obtaining   judgment in any court it is necessary to convert a sum due hereunder in the Specified Currency   into another currency (the “Second Currency”), the rate of exchange which shall be applied shall   be that at which in accordance with normal banking procedures the Administrative Agent could   purchase the Specified Currency with the Second Currency on the Business Day next preceding   that on which such judgment is rendered.  The obligation of each Borrower in respect of any such   sum due from it to the Administrative Agent or any Lender hereunder (an “Entitled Person”)   shall, notwithstanding the rate of exchange actually applied in rendering such judgment, be   discharged only to the extent that on the Business Day following receipt by such Entitled Person   of any sum adjudged to be due hereunder or under the Notes in the Second Currency such   Entitled Person may in accordance with normal banking procedures purchase and transfer to the   Specified Place the Specified Currency with the amount of the Second Currency so adjudged to  be due; and each Borrower hereby, as a separate obligation and notwithstanding any such  judgment, agrees to indemnify such Entitled Person against, and to pay such Entitled Person on  demand in the Specified Currency, any difference between the sum originally due to such Entitled                                        101     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Person in the Specified Currency and the amount of the Specified Currency so purchased and   transferred.                SECTION 9.15.  European Monetary Union.                (a)   Payments by the Administrative Agent Generally.  With respect to the   payment of any amount denominated in Euro, the Administrative Agent shall not be liable to any   of the Borrowers, the Swing Loan Lenders or any of the Lenders in any way whatsoever for any  delay, or the consequences of any delay, in the crediting to any account of any amount required  by this Agreement to be paid by the Administrative Agent if the Administrative Agent shall have  taken all relevant steps to achieve, on the date required by this Agreement, the payment of such  amount in immediately available, freely transferable, cleared funds (in Euro) to the account of  any Borrower, any Swing Loan Lender or any Lender in the Principal Financial Center in the  Participating Member State which such Borrower, such Swing Loan Lender or such Lender, as  the case may be, shall have specified for such purpose.  For the purposes of this paragraph, “all   relevant steps” means all such steps as may be prescribed from time to time by the regulations or   operating procedures of such clearing or settlement system as the Administrative Agent may from   time to time determine for the purpose of clearing or settling payments in Euro.                (b)   Other Consequential Changes.  Without prejudice to the respective   liabilities of the Borrowers to the Lenders and the Swing Loan Lenders, and the Lenders and the  Swing Loan Lenders to the Borrowers, under or pursuant to this Agreement, except as expressly  provided in this Section 9.15, each provision of this Agreement shall be subject to such   reasonable changes of construction as the Administrative Agent may from time to time   reasonably specify to be necessary or appropriate to reflect the introduction of or changeover to   Euros in Participating Member States.                SECTION 9.16.  USA PATRIOT Act.  Each Lender subject to the Patriot Act   hereby notifies each Borrower that, pursuant to Section 326 of the USA Patriot Act (Title III of   Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”) and the Beneficial   Ownership Regulation, it is required to obtain, verify and record information that identifies the   Borrower, including the name and address of such Borrower and other information that will allow   such Lender to identify each Borrower in accordance with the Patriot Act and the Beneficial   Ownership Regulation.                SECTION 9.17.  Continued Effectiveness.  Notwithstanding anything to the   contrary contained herein, this Agreement is not intended to and shall not serve to affect a   novation of the obligations under the Existing Credit Agreement, as continued hereunder.    Instead, it is the express intention of the parties hereto to reaffirm the indebtedness created under   the Existing Credit Agreement.  The Existing Credit Agreement and all agreements, instruments   and documents executed or delivered in connection with the Existing Credit Agreement shall   each be deemed to be amended as of the Effective Date to the extent necessary to give effect to  the provisions of this Agreement.                SECTION 9.18.  Entire Agreement.  This Agreement, the other Loan Documents,   and any separate letter agreements with respect to fees payable to the Administrative Agent or   any Issuing Bank, constitute the entire contract among the parties relating to the subject matter   hereof and supersede any and all previous agreements and understandings, oral or written,   relating to the subject matter hereof.                                         102     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 SECTION 9.19.  No Fiduciary Duty.  Each Agent, each Lender, each Issuing   Bank, each Swing Loan Lender and their respective Affiliates (collectively, solely for purposes of   this paragraph, the “Lenders”), may have economic interests that conflict with those of any   Borrowers, its stockholders and/or its Affiliates.  Each Borrower agrees that nothing in the Loan  Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or  fiduciary or other implied duty between any Lender, on the one hand, and any Borrower, its  stockholders or its Affiliates, on the other.  Each Borrower acknowledges and agrees that (i) the  transactions contemplated by the Loan Documents (including the exercise of rights and remedies  hereunder and thereunder) are arm’s-length commercial transactions between the Lenders, on the  one hand, and the Borrowers, on the other, and (ii) in connection therewith and with the process  leading thereto, (x) no Lender has assumed an advisory or fiduciary responsibility in favor of any  Borrower, its stockholders or its Affiliates with respect to the transactions contemplated hereby  (or the exercise of rights or remedies with respect thereto) or the process leading thereto  (irrespective of whether any Lender has advised, is currently advising or will advise any  Borrower, its stockholders or its Affiliates on other matters) or any other obligation to any  Borrower except the obligations expressly set forth in the Loan Documents and (y) each Lender is  acting solely as principal and not as the agent or fiduciary of any Borrower, its management,  stockholders, creditors or any other Person.  Each Borrower acknowledges and agrees that it has  consulted its own legal and financial advisors to the extent it deemed appropriate and that it is  responsible for making its own independent judgment with respect to such transactions and the  process leading thereto.  Each Borrower agrees that it will not claim that any Lender has rendered  advisory services of any nature or respect, or owes a fiduciary or similar duty to such Borrower,  in connection with such transaction or the process leading thereto.                SECTION 9.20.  Certain ERISA Matters.                 (a)   Each Lender (x) represents and warrants, as of the date such Person  became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender  party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the  Agents, and not, for the avoidance of doubt, to or for the benefit of any Borrowers or any other  Subsidiary of the Borrowers, that at least one of the following is and will be true:                      (i)   such Lender is not using “plan assets” (within the meaning of         Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such         Lender’s entrance into, participation in, administration of and performance of the Loans,         the Letters of Credit, the Commitments or this Agreement,                      (ii)  the transaction exemption set forth in one or more PTEs, such as        PTE 84-14 (a class exemption for certain transactions determined by independent        qualified professional asset managers), PTE 95-60 (a class exemption for certain        transactions involving insurance company general accounts), PTE 90-1 (a class        exemption for certain transactions involving insurance company pooled separate        accounts), PTE 91-38 (a class exemption for certain transactions involving bank        collective investment funds) or PTE 96-23 (a class exemption for certain transactions        determined by in-house asset managers), is applicable with respect to such Lender’s        entrance into, participation in, administration of and performance of the Loans, the        Letters of Credit, the Commitments and this Agreement,                                         103     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                       (iii) (A) such Lender is an investment fund managed by a “Qualified        Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such        Qualified Professional Asset Manager made the investment decision on behalf of such        Lender to enter into, participate in, administer and perform the Loans, the Letters of        Credit, the Commitments and this Agreement, (C) the entrance into, participation in,        administration of and performance of the Loans, the Letters of Credit, the Commitments        and this Agreement satisfies the requirements of subsections (b) through (g) of Part I of        PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection        (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into,        participation in, administration of and performance of the Loans, the Letters of Credit, the        Commitments and this Agreement, or                      (iv)  such other representation, warranty and covenant as may be         agreed in writing between the Agent, in its sole discretion, and such Lender.                (b)   In addition, unless either (1) sub-clause (i) in the immediately preceding   clause (a) is true with respect to a Lender or (2) a Lender has provided another representation,   warranty and covenant in accordance with sub-clause (iv) in the immediately preceding   clause (a), such Lender further (x) represents and warrants, as of the date such Person became a   Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party   hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Agents,   and not, for the avoidance of doubt, to or for the benefit of any Borrower, or any other Subsidiary   of the Borrowers, that the Agents are not a fiduciary with respect to the assets of such Lender   involved in such Lender’s entrance into, participation in, administration of and performance of   the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection   with the reservation or exercise of any rights by any Agent under this Agreement, any Loan   Document or any documents related hereto or thereto).                                   ARTICLE X                                 GUARANTY                SECTION 10.01.  Guaranty.                  (a)   To induce the Lenders to make the Loans to the Euro Borrowers and the  Swing Loan Borrowers, as the case may be, and the Issuing Banks to Issue Letters of Credit for  the account of the Euro Borrowers, the U.S. Borrower hereby absolutely, unconditionally and  irrevocably guarantees, as primary obligor and not merely as surety (in such capacity, the  “Guarantor”), the full and punctual payment when due, whether at stated maturity or earlier, by   reason of acceleration, mandatory prepayment or otherwise in accordance herewith or any other   Loan Document, of the principal of and interest on the Loans made by each Lender to, and the   Notes held by each Lender of, each Euro Borrower or Swing Loan Borrower and all other   amounts from time to time owing (including without limitation with respect to any Letters of   Credit) to the Lenders or the Administrative Agent by any Euro Borrower or any Swing Loan   Borrower under this Agreement pursuant hereto, to its Euro Borrower Designation or its Swing   Loan Borrower Designation, as applicable, and under the Notes, in each case strictly in   accordance with the terms hereof or thereof (such obligations being herein collectively called, the   “Guarantied Obligations”), whether or not from time to time reduced or extinguished or hereafter   increased or incurred, whether or not recovery may be or hereafter may become barred by any   statute of limitations, and whether enforceable or unenforceable as against any Euro Borrower or                                        104     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     Swing Loan Borrower, now or hereafter existing, or due or to become due, including principal,   interest (including interest at the contract rate applicable upon default accrued or accruing after   the commencement of any proceeding under the Bankruptcy Code, whether or not such interest is   an allowed claim in such proceeding), fees and costs of collection.  This guaranty constitutes a   guaranty of payment and not of collection.                (b)   The U.S. Borrower further agrees that, (i) if any payment made by any of  the Euro Borrowers or any other person and applied to the Guarantied Obligations is at any time  annulled, avoided, set aside, rescinded, invalidated, declared to be fraudulent or preferential or  otherwise required to be refunded or repaid, or (ii) if any payment is made by any Lender or any  other holder of Guarantied Obligations (the “Guarantied Parties”) to any Euro Borrower, its   estate, trustee, receiver or any other party, including the U.S. Borrower, under any bankruptcy   law, state or federal law, common law or equitable cause, then, in each case, to the extent of such   payment or repayment, the U.S. Borrower’s liability under this Section 10.01 shall be and remain   in full force and effect, as fully as if such payment had never been made or, if prior thereto this   guaranty set forth in this Section 10.01 shall have been cancelled or surrendered, the guaranty set   forth in this Section 10.01 shall be reinstated in full force and effect, and such prior cancellation   or surrender shall not diminish, release, discharge, impair or otherwise affect the obligations of   the U.S. Borrower in respect of the amount of such payment.                SECTION 10.02.  Authorization; Other Agreements.  The Guarantied Parties are   hereby authorized, without notice to or demand upon the U.S. Borrower, which notice or demand   is expressly waived hereby, and without discharging or otherwise affecting the obligations of the   U.S. Borrower hereunder (which shall remain absolute and unconditional notwithstanding any   such action or omission to act), from time to time, to:                (a)   supplement, renew, extend, accelerate or otherwise change the time for   payment of, or other terms relating to, the Guarantied Obligations, or any part of them, or   otherwise modify, amend or change the terms of any promissory note or other agreement,   document or instrument (including, without limitation, this Agreement and the other Loan   Documents) now or hereafter executed by any Euro Borrower and delivered to the Guarantied   Parties or any of them, including, without limitation, any increase or decrease of principal or the   rate of interest thereon;                (b)   waive or otherwise consent to noncompliance with any provision of any   instrument evidencing the Guarantied Obligations, or any part thereof, or any other instrument or   agreement in respect of the Guarantied Obligations (including, without limitation, this Agreement   and the other Loan Documents) now or hereafter executed by any Euro Borrower and delivered to   the Guarantied Parties or any of them;                (c)   accept partial payments on the Guarantied Obligations;                (d)   receive, take and hold additional security or collateral for the payment of  the Guarantied Obligations or any part of them and exchange, enforce, waive, substitute,  liquidate, terminate, abandon, fail to perfect, subordinate, transfer, otherwise alter and release any  such additional security or collateral;               (e)   settle, release, compromise, collect or otherwise liquidate the Guarantied  Obligations or accept, substitute, release, exchange or otherwise alter, affect or impair any                                         105     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     security or collateral for the Guarantied Obligations or any part of them or any other guaranty   therefor, in any manner;               (f)   add, release or substitute any one or more other guarantors, makers or  endorsers of the Guarantied Obligations or any part of them and otherwise deal with any Euro  Borrower or any other guarantor, maker or endorser;               (g)   apply to the Guarantied Obligations any and all payments or recoveries  from any Euro Borrower, from any other guarantor, maker or endorser of the Guarantied  Obligations or any part of them to the Guarantied Obligations in such order as provided herein  whether such Guarantied Obligations are secured or unsecured or guaranteed or not guaranteed  by others; and               (h)   refund at any time any payment received by any Guarantied Party in  respect of any of the Guarantied Obligations, and payment to such Person of the amount so  refunded shall be fully guaranteed hereby even though prior thereto this Guaranty shall have been  cancelled or surrendered, and such prior cancellation or surrender shall not diminish, release,  discharge, impair or otherwise affect the obligations of the U.S. Borrower hereunder in respect of  the amount so refunded; even if any right of reimbursement or subrogation or other right or  remedy of the U.S. Borrower is extinguished, affected or impaired by any of the foregoing  (including, without limitation, any election of remedies by reason of any judicial, non-judicial or  other proceeding in respect of the Guarantied Obligations which impairs any subrogation,  reimbursement or other right of the U.S. Borrower).                SECTION 10.03.  Guaranty Absolute and Unconditional.  The U.S. Borrower   hereby waives any defense of a surety or guarantor or any other obligor on any obligations arising   in connection with or in respect of any of the following and hereby agrees that its obligations   under this Article X (Guaranty) are absolute and unconditional and shall not be discharged or   otherwise affected as a result of:                (a)   the invalidity or unenforceability of any of any Euro Borrower’s  obligations under this Agreement or any other Loan Document or any other agreement or  instrument relating thereto, or any security for, or other guaranty of the Guarantied Obligations or  any part of them, or the lack of perfection or continuing perfection or failure of priority of any  security for the Guarantied Obligations or any part of them;                (b)   the absence of any attempt to collect the Guarantied Obligations or any  part of them from any Euro Borrower or other action to enforce the same;                (c)   any Guarantied Parties’ election, in any proceeding instituted under  chapter 11 of the Bankruptcy Code, of the application of Section 1111(b)(2) of the Bankruptcy  Code;               (d)   any borrowing or grant of a Lien by any Euro Borrower, as  debtor-in-possession, or extension of credit, under Section 364 of the Bankruptcy Code;               (e)   the disallowance, under Section 502 of the Bankruptcy Code, of all or  any portion of the Administrative Agent’s or Lender’s claim (or claims) for repayment of the  Guarantied Obligations;                                         106     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 (f)   any use of cash collateral under Section 363 of the Bankruptcy Code;                (g)   any agreement or stipulation as to the provision of adequate protection in  any bankruptcy proceeding;               (h)    the avoidance of any Lien in favor of the Guarantied Parties or any of  them for any reason;               (i)   any bankruptcy, insolvency, reorganization, arrangement, readjustment  of debt, liquidation or dissolution proceeding commenced by or against any Euro Borrower, the  U.S. Borrower or any of any Euro Borrower’s other Subsidiaries, including without limitation,  any discharge of, or bar or stay against collecting, all or any of the Guarantied Obligations (or any  part of them or interest thereon) in or as a result of any such proceeding;               (j)   failure by any Guarantied Party to file or enforce a claim against any  Euro Borrower or its estate in any bankruptcy or insolvency case or proceeding;               (k)   any action taken by any Guarantied Party that is authorized hereby;                (l)   any rescission, waiver, amendment or modification of, or any release  from any of the terms or provisions of, this Agreement, any other Loan Document or any other  agreement; or               (m)   any (x) laws, regulations or acts of any legislative body or Governmental  Authority or (y) any economic, political, regulatory or other events, including but not limited to,  any restrictions on the conversion of currency or repatriation or control of funds or any total or  partial expropriation of the Borrowers’ property, that would otherwise constitute a defense  available to any obligor or guarantor of, or a discharge of, or otherwise affect, the obligations  hereunder; or               (n)   any other circumstance which might otherwise constitute a legal or  equitable discharge or defense of a surety or guarantor or any other obligor on any obligations,  other than the payment in full of the Guarantied Obligations.                SECTION 10.04.  Waivers.  The U.S. Borrower hereby waives diligence,   promptness, presentment, demand for payment or performance and protest and notice of protest,   notice of acceptance and any other notice in respect of the Guarantied Obligations or any part of   them, and any defense arising by reason of any disability or other defense of the Euro Borrower.    The U.S. Borrower shall not, until the Guarantied Obligations are irrevocably paid in full and the   Commitments have been terminated, assert any claim or counterclaim it may have against any   Euro Borrower or set off any of its obligations to any Euro Borrower against any obligations of   any Euro Borrower to it.  In connection with the foregoing, the U.S. Borrower covenants that its   obligations hereunder shall not be discharged, except by complete performance.                SECTION 10.05.  Reliance.  The U.S. Borrower hereby assumes responsibility   for keeping itself informed of the financial condition of the Euro Borrowers and any and all   endorsers and/or other guarantors of all or any part of the Guarantied Obligations, and of all other   circumstances bearing upon the risk of nonpayment of the Guarantied Obligations, or any part  thereof, that diligent inquiry would reveal, and the U.S. Borrower hereby agrees that no  Guarantied Party shall have any duty to advise it of information known to it regarding such                                        107     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION     condition or any such circumstances.  In the event any Guarantied Party, in its sole discretion,   undertakes at any time or from time to time to provide any such information to the U.S.   Borrower, such Guarantied Party shall be under no obligation (i) to undertake any investigation  not a part of its regular business routine, (ii) to disclose any information which such Guarantied  Party, pursuant to accepted or reasonable commercial finance or banking practices, wishes to  maintain confidential or (iii) to make any other or future disclosures of such information or any  other information to any Guarantied Party.                SECTION 10.06.  Waiver of Subrogation and Contribution Rights.  Until the   Guarantied Obligations have been irrevocably paid in full and the Commitments have been   terminated, the U.S. Borrower shall not enforce or otherwise exercise any right of subrogation to   any of the rights of the Guarantied Parties or any part of them against any Euro Borrower or any   right of reimbursement or contribution or similar right against any Euro Borrower by reason of   this Agreement or by any payment made by the U.S. Borrower in respect of the obligations under   this Agreement or the Notes.                SECTION 10.07.  Subordination.  The U.S. Borrower hereby agrees that upon   the occurrence of any Event of Default described in Section 7.01(e), any Indebtedness of any   Euro Borrower now or hereafter owing to it, whether heretofore, now or hereafter created (the   “Guaranty Subordinated Debt”), is hereby subordinated to all of the obligations under this   Agreement and the Notes, and that, except as expressly permitted by this agreement, the Guaranty   Subordinated Debt shall not be paid in whole or in part until such obligations have been   indefeasibly paid in full in cash and this Guaranty is terminated and of no further force or effect.   The U.S. Borrower shall not accept any payment of or on account of any Guaranty Subordinated  Debt at any time in contravention of the foregoing.  Upon the occurrence and during the  continuance of an Event of Default described in Section 7.01(e), each Euro Borrower shall pay to   the Administrative Agent any payment of all or any part of the Guaranty Subordinated Debt and   any amount so paid to the Administrative Agent shall be applied to payment of the obligations   under this Agreement and the Notes as provided herein.  Each payment on the Guaranty   Subordinated Debt received in violation of any of the provisions hereof shall be deemed to have   been received by the U.S. Borrower as trustee for the Administrative Agent and the Lenders and   shall be paid over to the Administrative Agent immediately on account of the Guarantied   Obligations, but without otherwise affecting in any manner the U.S. Borrower’s liability under   this Article X (Guaranty).  The U.S. Borrower agrees to file all claims against the Euro Borrowers   in any bankruptcy or other proceeding in which the filing of claims is required by law in respect   of any Guaranty Subordinated Debt, and the Administrative Agent shall be entitled to all of U.S.   Borrower’s rights thereunder.  If for any reason the U.S. Borrower fails to file such claim at least   ten Business Days prior to the last date on which such claim should be filed, the U.S. Borrower   hereby irrevocably appoints the Administrative Agent as its true and lawful attorney-in-fact and is  hereby authorized to act as attorney-in-fact in the U.S. Borrower’s name to file such claim or, in  the Administrative Agent’s discretion, to assign such claim to and cause proof of claim to be filed  in the name of the Administrative Agent or its nominee.  In all such cases, whether in  administration, bankruptcy or otherwise, the person or persons authorized to pay such claim shall  pay to the Administrative Agent the full amount payable on the claim in the proceeding, and, to  the full extent necessary for that purpose, the U.S. Borrower hereby assigns to the Administrative  Agent all of the U.S. Borrower’s rights to any payments or distributions to which the U.S.  Borrower otherwise would be entitled.  If the amount so paid is greater than the U.S. Borrower’s  liability hereunder, the Administrative Agent shall pay the excess amount to the party entitled  thereto.                                        108     

 

                                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                             FMC CORPORATION                 SECTION 10.08.  Default; Remedies.  The obligations of the U.S. Borrower   hereunder are independent of and separate from the Guarantied Obligations.  Upon any Event of   Default, the Administrative Agent may, at its sole election, proceed directly and at once, without   notice, against the U.S. Borrower to collect and recover the full amount or any portion of the   Guarantied Obligations then due, without first proceeding against the defaulting Euro Borrower   or Euro Borrowers or any other guarantor of the Guarantied Obligations, or joining the defaulting   Euro Borrower or Euro Borrowers or any other guarantor in any proceeding against the U.S.   Borrower.  At any time after maturity of the Guarantied Obligations, the Administrative Agent   may (unless the Guarantied Obligations have been indefeasibly paid in full in cash), without  notice to the U.S. Borrower, appropriate and apply toward the payment of the Guarantied  Obligations (i) any indebtedness due or to become due from any Guarantied Party to the U.S.  Borrower and (ii) any moneys, credits or other property belonging to the U.S. Borrower at any  time held by or coming into the possession of any Guarantied Party or any of its respective  Affiliates.                SECTION 10.09.  Irrevocability.  This Guaranty set forth in this Article X   (Guaranty) shall be irrevocable as to any and all of the Guarantied Obligations until the   Commitments have been terminated and all monetary Guarantied Obligations then outstanding   have been indefeasibly repaid in full in cash.                SECTION 10.10.  Setoff.  Upon the occurrence and during the continuance of an   Event of Default, each Guarantied Party and each Affiliate thereof may, without notice to the   U.S. Borrower and regardless of the acceptance of any security or collateral for the payment   hereof, appropriate and apply toward the payment of all or any part of the Guarantied Obligations   then due and payable (i) any indebtedness due or to become due from such Guarantied Party or   Affiliate thereof to the U.S. Borrower or any Euro Borrower or Swing Loan Borrower, and   (ii) any moneys, credits or other property belonging to the U.S. Borrower or any Euro Borrower   or Swing Loan Borrower, at any time held by or coming into the possession of such Guarantied   Party or Affiliate thereof (other than trust accounts).                SECTION 10.11.  No Marshaling.  The U.S. Borrower consents and agrees that   no Guarantied Party or Person acting for or on behalf thereof shall be under any obligation to   marshal any assets in favor of the U.S. Borrower or against or in payment of any or all of the   Guarantied Obligations.                SECTION 10.12.  Enforcement; Amendments; Waivers.  No delay on the part of   any Guarantied Party in the exercise of any right or remedy arising under this Agreement, any of   the other Loan Documents or otherwise with respect to all or any part of the Guarantied   Obligations or any other guaranty of or security for all or any part of the Guarantied Obligations   shall operate as a waiver thereof, and no single or partial exercise by any such Person of any such   right or remedy shall preclude any further exercise thereof.  Failure by any Guarantied Party at   any time or times hereafter to require strict performance by the U.S. Borrower, any other   guarantor of all or any part of the Guarantied Obligations or any other Person of any of the   provisions, warranties, terms and conditions contained in any of the Loan Documents now or at   any time or times hereafter executed by such Persons and delivered to any Guarantied Party shall   not waive, affect or diminish any right of such person at any time or times hereafter to demand   strict performance thereof and such right shall not be deemed to have been waived by any act or   knowledge of any Guarantied Party, or its Affiliates, unless such waiver is contained in an   instrument in writing, directed and delivered to such Euro Borrower or the U.S. Borrower, as   applicable, specifying such waiver, and is signed by the party or parties necessary to give such                                        109     

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION    waiver under this Agreement.  No waiver of any Event of Default shall operate as a waiver of any  other Event of Default or the same Event of Default on a future occasion, and no action by any  Guarantied Party permitted hereunder shall in any way affect or impair any its rights and  remedies or the obligations of the U.S. Borrower under this Article X (Guaranty).  Any  determination by a court of competent jurisdiction of the amount of any principal and/or interest  owing by any Euro Borrower to any Guarantied Party shall be conclusive and binding on the U.S.  Borrower irrespective of whether the U.S. Borrower was a party to the suit or action in which  such determination was made.                          [SIGNATURE PAGES FOLLOW]                                        110    

 

                                   THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                                            FMC CORPORATION                  IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be  executed by their respective officers thereunto duly authorized, as of the date first above written.                                       The U.S. Borrower                                                                            FMC CORPORATION                                                                                                                  By: /s/ Brian J. Blair                                                       Name: Brian J. Blair                                         Title:  Deputy Treasurer                                                                                                                The Euro Borrowers                                       FMC FINANCE B.V.                                                                                                                By: /s/ Brian J. Blair                                                       Name: Brian J. Blair                                         Title:  Authorized Signatory, as Director                                                      FMC CHEMICALS NETHERLANDS B.V.                                                                                                                By: /s/ Brian J. Blair                                                       Name: Brian J. Blair                                         Title:  Authorized Signatory, as Director                                                      FMC FORET, S.A.                                                                                                                By: /s/ Brian J. Blair                                                       Name: Brian J. Blair                                         Title:  Authorized Signatory, as                                          Attorney-in-Fact                                                     [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                   

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                                           CITIBANK, N.A.,                        as Administrative Agent, Lender, Issuing Bank                       and Swing Loan Lender                                                                                            By: /s/ Michael Vondriska                                     Name: Michael Vondriska                          Title:  Vice President                                                  [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         BANK OF AMERICA, N.A.,                       as Syndication Agent, Lender, Issuing Bank and                       Swing Loan Lender                                                                                            By: /s/ Brandon Weiss                                        Name: Brandon Weiss                            Title: Vice President     [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         BNP Paribas as a Lender                                                                                            By: /s/ Michael Pearce                                        Name: Michael Pearce                          Title:  Managing Director                                                                                By: /s/ Nader Tannous                                        Name: Nader Tannous                          Title:  Managing Director    [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                                                         CoBank, ACB, as a Lender                                                                                         By: /s/ Robert Prickett                                       Name: Robert Prickett                          Title:  Vice President                      [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         JPMorgan Chase Bank, N.A., as a Lender                                                                                            By: /s/ James A. Knight                                       Name: James A. Knight                          Title:  Executive Director                      [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                     SUMITOMO MITSUI BANKING CORPORATION,                   as a Lender                                                                            By: /s/ Richard Eisenberg                                  Name: Richard Eisenberg                    Title:  Managing Director                                                             [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         TD BANK, N.A., as a Lender                                                                                            By: /s/ Craig Welch                                           Name: Craig Welch                          Title:  Senior Vice President                                                                 [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         BRANCH BANKING AND TRUST                       COMPANY, as a Lender                                                                                            By: /s/ J. Carlos Navarrete                                   Name: J. Carlos Navarrete                          Title:  Vice President                                                                                       [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         Santander Bank, N.A., as a Lender                                                                                            By: /s/ Andres Barbosa                                        Name: Andres Barbosa                          Title:  Executive Director                                                                                By: /s/ Daniel Kostman                                        Name: Daniel Kostman                          Title:  Executive Director    [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         Citizens Bank, N.A. (as successor by merger to                       Citizens Bank of Pennsylvania), as a Lender                                                                                            By: /s/ William J. O’Meara                                    Name: William J. O’Meara                          Title:  Senior Vice President                      [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         COÖPERATIEVE RABOBANK U.A., NEW                       YORK BRANCH, as a Lender                                                                                            By: /s/ Jeff Bliss                                            Name: Jeff Bliss                          Title:  Executive Director                                                                                By: /s/ Robert Graff                                          Name: Robert Graff                          Title:  Managing Director                                                       [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         KBC BANK N.V., NEW YORK BRANCH, as                        a Lender                                                                                            By: /s/ Jana Sevcikova                                        Name: Jana Sevcikova                          Title: Director                                                                                By: /s/ Vlada Lisovetsky                                      Name: Vlada Lisovetsky                          Title: Senior Associate    [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         Mizuho Bank, Ltd., as a Lender                                                                                            By: /s/ Donna DeMagistris                                     Name: Donna DeMagistris                          Title:  Authorized Signatory     [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         PNC BANK, NATIONAL ASSOCIATION,                        as a Lender                                                                                            By: /s/ Mark F. McCue                                         Name: Mark F. McCue                          Title:  Vice President                      [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         U.S. BANK NATIONAL ASSOCIATION, as a                       Lender                                                                                            By: /s/ Paul E. Rouse                                        Name: Paul E. Rouse                          Title: Vice President                                                            [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         Wells Fargo Bank, National Association, as a                       Lender                                                                                            By: /s/ Nathan R. Rantala                                     Name: Nathan R. Rantala                          Title: Managing Director    [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]                                         

 

                    THIRD AMENDED AND RESTATED CREDIT AGREEMENT                                             FMC CORPORATION                         BANK OF CHINA, NEW YORK BRANCH,                        as a Lender                                                                                            By: /s/ Raymond Qiao                                          Name: Raymond Qiao                          Title: Chief Lending Officer                     [SIGNATURE PAGE TO THIRD A&R FMC CREDIT AGREEMENT]ex_145457.htm

 

Exhibit 10.1

 

Execution Version

 

VOTING AND SUPPORT AGREEMENT 

 

This VOTING AND SUPPORT AGREEMENT (this “Agreement”) is entered into as of May 20, 2019, by and among Naphtha Holding Ltd., an Israeli private company and a direct wholly owned Subsidiary of Naphtha (as defined herein) (“NHL”), I.O.C. - Israel Oil Company, Ltd., an Israeli private company and a Subsidiary of Naphtha (“Parent”), Isramco, Inc., a Delaware corporation (the “Company”), and Haim Tsuff, an individual (“Tsuff” and, together with NHL and Parent, the “Stockholders” and each a “Stockholder”).

 

WHEREAS, Naphtha Israel Petroleum Corporation Ltd., an Israeli public company (“Naphtha”), Parent, NHL, Naphtha US Oil, Inc., a corporation incorporated under the laws of the State of Delaware and a direct wholly-owned Subsidiary of Parent (“Merger Sub”), and the Company have, concurrently with the execution of this Agreement, entered into an Agreement and Plan of Merger, dated as of the date hereof (as may be amended, supplemented or otherwise modified from time to time in accordance with its terms, the “Merger Agreement”), which provides, among other things, for the merger of Merger Sub with and into the Company, with the Company continuing as the surviving corporation and a subsidiary of Parent and NHL (the “Merger”), upon the terms and subject to the conditions set forth in the Merger Agreement;

 

WHEREAS, as of the date hereof, each of the Stockholders is the record owner and/or Beneficial Owner of the number of outstanding shares of Common Stock as set forth on Schedule A hereto;

 

WHEREAS, as a condition and inducement to the willingness of the Company to enter into the Merger Agreement and consummate the transactions contemplated thereby, including the Merger, the Company has required that each Stockholder agree, and each Stockholder has agreed, upon the terms and subject to the conditions set forth herein, to enter into this Agreement and abide by the covenants and obligations set forth herein;

 

WHEREAS, each Stockholder acknowledges that Parent, the Company and Merger Sub are entering into the Merger Agreement in reliance on the representations, warranties, covenants and other agreements of each Stockholder set forth in this Agreement; and

 

NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

Article I

DEFINED TERMS 

 

Section 1.1     Defined Terms. The following terms, as used in this Agreement, shall have the meanings set forth below. Terms used but not otherwise defined herein shall have the meanings ascribed thereto in the Merger Agreement.

 

(a)     “Additional Shares” means, with respect to each Stockholder, the Common Stock or other voting capital stock of the Company that such Stockholder acquires Beneficial Ownership of after the date of this Agreement.

 

(b)     “Beneficial Ownership” by a person of any security includes ownership by any person who, directly or indirectly, through any Contract, arrangement, understanding, relationship or otherwise (whether or not in writing), has or shares: (i) voting power which includes the power to vote, or to direct the voting of, such security; and/or (ii) investment power which includes the power to dispose, or to direct the disposition, of such security; and shall otherwise be interpreted in accordance with the term “beneficial ownership” as defined in Rule 13d-3 adopted by the SEC under the Exchange Act. Without duplicative counting of the same securities by the same holder, securities Beneficially Owned by a person will include securities Beneficially Owned by all Affiliates of such person and all other persons with whom such person would constitute a “group” within the meaning of Section 13(d) of the Exchange Act. The terms “Beneficially Own,” “Beneficially Owned” and “Beneficial Owner” shall have correlative meanings.

 

(c)     “Common Stock” means the shares of common stock, par value $0.01 per share, of the Company, and will also include for purposes of this Agreement all shares or other voting securities into which shares of Common Stock or such other shares or voting securities may be reclassified, sub-divided, consolidated or converted and any rights and benefits arising therefrom, including any dividends or distributions of securities which may be declared in respect of the shares of common stock and entitled to vote in respect of the matters contemplated by Article II.

 

1

 

 

(d)     “Covered Securities” means the Existing Shares and any Additional Shares.

 

(e)     “Existing Shares” means, with respect to each Stockholder, the shares of Common Stock Beneficially Owned by such Stockholder on the date hereof as listed on Schedule A.

 

(f)     “Transfer” means, directly or indirectly, to (i) issue sell, short, transfer, offer, exchange, assign, pledge, encumber, subject to an Encumbrance, hypothecate or otherwise dispose of (by merger, by tendering into any tender or exchange offer, by testamentary disposition, by operation of law or otherwise), either voluntarily or involuntarily, any Covered Securities; (ii) to enter into any Contract, option or other agreement with respect to any transactions described in clause (i); or (iii) enter into any swap, hedge, derivative or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Covered Securities, whether settled by delivery of Covered Securities, other securities, in cash or otherwise. For purposes of this Agreement, the term “Transfer” shall include the transfer (including by way of sale, disposition, operation of law (including by merger) or any other means) of an Affiliate of any Stockholder or any Stockholder’s interest in an Affiliate which Beneficially Owns any Covered Securities. The terms “Transferring”, “Transferee”, “Transferred” or similar words shall have correlative meanings to Transfer.

 

Article II

VOTING; GRANT AND APPOINTMENT OF PROXY 

 

Section 2.1     Voting. From and after the date hereof until the Expiration Time (as defined herein), each Stockholder irrevocably and unconditionally hereby agrees that at the Company Meeting or any other annual or special meeting of the stockholders of the Company, however called, including any adjournment, recess or postponement thereof, or in connection with any written consent of the Company’s stockholders and in any other circumstance upon which a vote, consent or approval of all or some of the stockholders of the Company is sought, in each case, with respect to which any of the matters described in clauses (a) through (d) of this Section 2.1 is to be considered, each Stockholder shall, and shall cause any holder of record of its Covered Securities to, unless the Board or any Independent Committee has made a Change in Recommendation that has not been rescinded or otherwise withdrawn, (i) appear, in person or by proxy, at each such meeting or cause its representative(s) to appear at such meeting or otherwise cause its Covered Securities to be counted as present thereat for purposes of determining whether a quorum is present and respond to each request by the Company for written consent, if any, and (ii) vote or cause to be voted, in person or by proxy, or deliver or cause to be delivered a written consent covering, all of such Stockholder’s Covered Securities:

 

(a)     in favor of the adoption and approval of the Merger Agreement, and the other transactions contemplated thereby, including the Merger (the “Contemplated Transactions”);

 

(b)     against any action, proposal, agreement or transaction, that is intended, that could reasonably be expected, or the effect of which could reasonably be expected, to change in any manner the voting rights of any class of shares of the Company or materially impede, interfere with, delay, postpone, frustrate, discourage or adversely affect the timely consummation of the Contemplated Transactions, or the performance by such Stockholder of its obligations under this Agreement, including, without limitation: (i) any extraordinary corporate transaction, such as a merger, consolidation or other business combination involving the Company or any of its Subsidiaries (other than the Merger) unless such transaction is previously approved in writing by Parent; (ii) a sale, lease or transfer of a material amount of assets of the Company or any of its Subsidiaries (other than the Merger or any transactions contemplated by the Merger Agreement) or a reorganization, recapitalization or liquidation of the Company or any of its Subsidiaries that is prohibited by the Merger Agreement unless such transaction is previously approved in writing by Parent; (iii) an election of new members to the Board, other than nominees to the Board who are serving as directors of the Company on the date of this Agreement, except if previously approved in writing by Parent; or (iv) any material change in the present capitalization or dividend policy of the Company or any amendment or other change to the Company’s Certificate of Incorporation or the Bylaws;

 

(c)     against any action, proposal, transaction or agreement that could reasonably be expected to result in (i) a breach in any respect of any covenant, representation or warranty or any other obligation or agreement of the Company contained in the Merger Agreement, or of any Stockholder contained in this Agreement or the Merger Agreement or (ii) any of the conditions to the consummation of the Merger under the Merger Agreement not being fulfilled; and

 

(d)     in favor of any other action, proposal, transaction or agreement necessary to consummate the Merger and the transactions contemplated by the Merger Agreement.

 

2

 

 

Section 2.2     Grant of Irrevocable Proxy; Appointment of Proxy.

 

(a)     Effective immediately upon the execution of the Merger Agreement and until the Expiration Time, each Stockholder hereby irrevocably and unconditionally grants a proxy to, and appoints, the Company, as its sole and exclusive proxies and attorney-in-fact (with full power of substitution and resubstitution), for and in such Stockholder’s name, place and stead, to vote or cause to be voted (including by execution and delivery of proxies or acting by written consent, if applicable) the Covered Securities in accordance with Section 2.1 hereof at the Company Meeting or other annual or special meeting of the stockholders of the Company, however called, including any postponement or adjournment thereof, or in connection with any action sought to be taken by written consent of the stockholders of the Company without a meeting.

 

(b)     Each Stockholder represents that any proxies heretofore given in respect of such Stockholder’s Covered Securities, if any, are revocable, and hereby revokes all such proxies.

 

(c)     Each Stockholder affirms that the irrevocable proxy and power of attorney set forth in this Section 2.2 is given in connection with the execution of the Merger Agreement , and that such irrevocable proxy is given to secure the performance of the duties of such Stockholder under this Agreement and is granted in accordance with the provisions of Section 212 of the DGCL. Each Stockholder further (x) affirms that such irrevocable proxy is (i) coupled with an interest by reason of the Merger Agreement and, (ii) executed and intended to be (and is) irrevocable in accordance with the provisions of Section 212 of the DGCL prior to the Expiration Time and (y) ratifies and confirms all that the proxy holders appointed hereunder may lawfully do or cause to be done in compliance with the express terms hereof. If for any reason the proxy granted herein is not valid, then each Stockholder agrees to vote such Stockholder’s Covered Securities in accordance with Section 2.1 hereof prior to the Expiration Time. The parties hereto agree that the foregoing is a voting agreement.

 

Section 2.3     Restrictions on Transfers.

 

(a)     Each Stockholder hereby agrees that, from the date hereof until the Expiration Time, such Stockholder shall not, without the prior written consent of the Independent Committee, directly or indirectly, (i) Transfer (or cause or permit the Transfer of), either voluntarily or involuntarily, or enter into any Contract, option or other arrangement or understanding with respect to the Transfer of any Covered Securities or any interest therein, including, without limitation, any swap transaction, option, warrant, forward purchase or sale transaction, futures transaction, cap transaction, floor transaction, collar transaction or any other similar transaction (including any option with respect to any such transaction) or combination of any such transactions, in each case involving any Covered Securities, (ii) deposit any Covered Securities into a voting trust or enter into a voting agreement or arrangement or grant any proxy or power of attorney with respect thereto that is inconsistent with this Agreement, (iii) convert or exchange, or take any action which would result in the conversion or exchange, of any Covered Securities, (iv) take any action that would make any representation or warranty of such Stockholder set forth in this Agreement untrue or incorrect or have the effect of preventing, disabling, or materially delaying such Stockholder from performing any of its obligations under this Agreement, or (v) agree (whether or not in writing) to take any of the actions referred to in the foregoing clauses (i), (ii) (iii) or (iv). Any purported Transfer in violation of this Section 2.3 shall be void and of no force or effect and each Stockholder acknowledges that the Company will not register or permit the registration of or otherwise facilitate or effect any such Transfer.

 

(b)     This Agreement and the obligations hereunder shall attach to the Covered Securities and shall be binding upon any person to which legal or Beneficial Ownership shall pass, whether by operation of Law or otherwise, including, each Stockholder’s successors or assigns. Each Stockholder covenants and agrees that it will not request that the Company register the Transfer (book-entry or otherwise) of any certificate or uncertificated interest representing any or all of the Covered Shares, unless such Transfer is made in compliance with this Agreement.

 

Article III

REPRESENTATIONS, WARRANTIES AND COVENANTS

OF THE STOCKHOLDERS 

 

Section 3.1     Representations and Warranties. Each Stockholder represents and warrants to the Company as of the date hereof and as of the Closing:

 

(a)     if not a natural person, such Stockholder is a corporation duly organized, validly existing and in good standing (to the extent the relevant jurisdiction recognizes such concept of good standing) under the laws of the

 

3

 

 

jurisdiction of its incorporation and has the requisite corporate power and authority to own, lease and operate its properties and to carry on its business as it is now being conducted;

 

(b)     such Stockholder has full legal right, power, capacity and authority to execute and deliver this Agreement, to perform such Stockholder’s obligations hereunder and to consummate the transactions contemplated hereby;

 

(c)     this Agreement has been duly executed and delivered by such Stockholder and the execution, delivery and performance of this Agreement by such Stockholder and the consummation of the transactions contemplated hereby have been duly authorized by all necessary action on the part of such Stockholder and no other actions or proceedings on the part of such Stockholder are necessary to authorize this Agreement or to consummate the transactions contemplated hereby;

 

(d)     assuming due authorization, execution and delivery by the other parties hereto, this Agreement constitutes a legal, valid and binding agreement of such Stockholder, enforceable against such Stockholder in accordance with its terms, except as enforcement may be limited by the Enforceability Exceptions;

 

(e)     (i) such Stockholder (A) is the Beneficial Owner of and, immediately prior to the Closing, will be the Beneficial Owner of, and has and will have good and valid title to, its Existing Shares, free and clear of Liens other than as created by this Agreement, and (B) owns, of record and/or Beneficially, or controls all of its Covered Securities; (ii) its Covered Securities are not subject to any voting trust agreement or other Contract to which such Stockholder is a party restricting or otherwise relating to the voting or Transfer of the Covered Securities other than this Agreement; (iii) such Stockholder has not Transferred any interest in any of its Covered Securities; (iv) as of the date hereof, other than the Existing Shares set forth on Schedule A, such Stockholder does not Beneficially Own or own of record, any shares of Common Stock; and (v) such Stockholder has not appointed or granted any proxy or power of attorney that is still in effect with respect to any of the Existing Shares and with respect to any of the Covered Securities Beneficially Owned at all times through the Closing Date and with no limitations, qualifications or restrictions on such rights, except as contemplated by this Agreement;

 

(f)     except for (i) the applicable requirements of the Exchange Act and (ii) as provided in the Merger Agreement, (A) no filing with, and no permit, authorization, consent or approval of, any Governmental Entity is necessary on the part of such Stockholder for the execution, delivery and performance of this Agreement by such Stockholder or the consummation by such Stockholder of the transactions contemplated by this Agreement and the Merger Agreement, and (B) neither the execution, delivery or performance of this Agreement by such Stockholder nor the consummation by such Stockholder of the transactions contemplated hereby, nor compliance by such Stockholder with any of the provisions hereof shall (1) if such Stockholder is an entity, conflict with or violate any provision of the organizational documents of such Stockholder, (2) result in any breach or violation of, or constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, or result in the creation of any Encumbrance on property or assets of such Stockholder pursuant to any Contract to which such Stockholder is a party or by which such Stockholder or any property or asset of such Stockholder is bound or affected, or (3) violate any Law or Order applicable to such Stockholder or any of such Stockholder’s properties or assets;

 

(g)     there is no Proceeding pending against such Stockholder or, to the knowledge of such Stockholder, any other Person or, to the knowledge of such Stockholder, threatened against such Stockholder or any other Person that restricts or prohibits (or, if successful, would, or could reasonably be expected to, restrict or prohibit) the performance by such Stockholder of its obligations under this Agreement or challenges the validity of this Agreement; and

 

(h)     except for this Agreement, no Stockholder has taken any action that would constitute a breach hereof, make any representation or warranty of such Stockholder set forth in this Article III untrue or incorrect or have the effect of preventing or delaying or impeding the ability of such Stockholder from performing any of his, her or its obligations under this Agreement.

 

Section 3.2     Other Covenants. Each Stockholder hereby:

 

(a)     agrees and covenants, prior to the Expiration Time, not to knowingly take any action, directly or indirectly, that could reasonably be expected to (i) result in a breach hereof, (ii) make any representation or warranty of such Stockholder contained herein untrue or incorrect or (iii) have the effect of preventing, delaying, impeding or

 

4

 

 

interfering with or adversely affecting the ability of such Stockholder from performing any of its obligations under this Agreement;

 

(b)     irrevocably waives, and agrees not to exercise, any rights of appraisal or any dissenters’ rights under applicable Law at any time with respect to the Merger that such Stockholder may have with respect to any and all of such Stockholder’s Covered Securities, whether held of record or Beneficially Owned (including any appraisal or dissenters’ rights pursuant to Section 262 of the DGCL) prior to the Expiration Time; and

 

(c)     agrees and covenants to (i) permit the Company to publish and disclose in any press release or in the Proxy Statement (including all documents and schedules filed with the SEC in accordance therewith) or other disclosure document required in connection with the Merger Agreement or the Contemplated Transactions, such Stockholder’s identity and Beneficial Ownership of Covered Securities and the nature of such Stockholder’s commitments, arrangements and understandings under this Agreement (“Stockholder Information”) and (ii) cooperate with the Company in connection with such filings, including providing Stockholder Information requested by the Company and notifying the Company if and to the extent such Stockholder becomes aware that any such Stockholder Information is or shall have become false or misleading.

 

Section 3.3     Stock Dividends, etc. In the event of a reclassification, recapitalization, reorganization, stock split (including a reverse stock split) or combination, exchange or readjustment of shares or other similar transaction, or if any stock dividend, subdivision or distribution (including any dividend or distribution of securities convertible into or exchangeable for shares of Common Stock) is declared, in each case affecting the Covered Securities, the terms “Existing Shares,” “Additional Shares” and “Covered Shares” shall be deemed to refer to and include such shares as well as all such stock dividends and distributions and any securities of the Company into which or for which any or all of such shares may be changed or exchanged or which are received in such transaction.

 

Article IV

TERMINATION 

 

Section 4.1     Termination. This Agreement, and the obligations of the Stockholders hereunder (including, without limitation, Section 2.2 hereof), shall terminate and be of no further force or effect immediately upon the earlier to occur (the “Expiration Time”) of (a) the Effective Time, (b) the date of valid termination of the Merger Agreement in accordance with its terms, and (c) at any time upon the written agreement of the Company (acting at the direction of the Independent Committee) and Parent; provided, that, for the avoidance of doubt, to the extent the termination of the Merger Agreement is contested, no party shall be released from liability for violating the terms of this Agreement if a court of competent jurisdiction finally determines that the Merger Agreement had not, in fact, been validly terminated and, therefore, this Agreement had not been validly terminated. Notwithstanding the preceding sentence, this Article IV and Article V hereof shall survive any termination of this Agreement. Nothing in this Article IV shall relieve or otherwise limit any party’s liability for any breach of this Agreement prior to the termination of this Agreement.

 

Article V

MISCELLANEOUS 

 

Section 5.1     Notices. All notices, requests and other communications to any party under, or otherwise in connection with, this Agreement shall be in writing (in the English language) and shall be deemed to have been duly given on the date of delivery (a) if delivered in person; (b) if transmitted by electronic mail (“e-mail”) (but only if confirmation of receipt of such e-mail is requested and received; provided that each notice Party shall use reasonable best efforts to confirm receipt of any such email correspondence promptly upon receipt of such request); or (c) if transmitted by national overnight courier, in each case as addressed as follows (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 5.1):

 

(a)     If to any Stockholder:

 

Naphtha Israel Petroleum Corporation, Ltd.

8, Granit Street, Kiryat Arie, Box 10188

Petach-Tikva, Israel 49222

Attention: Noa Lendner

Email: noal@equital-group.com

 

with a copy (which shall not constitute notice) to:

 

5

 

 

Baker Botts L.L.P.

910 Louisiana Street

Houston, Texas 77002

Attention: Andrew J. Ericksen

Email: aj.ericksen@bakerbotts.com

 

(b)     If to the Company:

 

Isramco, Inc.

1001 West Loop South, Suite 750

Houston Texas 77027

Attention: Edy Francis and Anthony James

Email: edyf@isramco-jay.com; tjames@isramco-jay.com

 

With a copy to (which shall not constitute notice):

 

Norton Rose Fulbright US LLP

555 California Street, Suite 3300

San Francisco, California 94104

Attention: Lior Nuchi

Email: lior.nuchi@nortonrosefulbright.com

 

Section 5.2     Capacity. Notwithstanding anything to the contrary in this Agreement, (i) each Stockholder is entering into this Agreement, and agreeing to become bound hereby, solely in its capacity as a Beneficial Owner of its Covered Securities owned by it and not in any other capacity (including, without limitation, in any capacity as a director of the Board or officer of the Company) and (ii) nothing in this Agreement shall obligate such Stockholder or its Representatives to take, or forbear from taking, in its capacity as a director of the Board or officer of the Company, any action which is inconsistent with its or his fiduciary duties under applicable Law.

 

Section 5.3     Severability. Each party hereto agrees that, should any court or other competent authority hold any provision of this Agreement or part of this Agreement to be null, void or unenforceable, or order any party to take any action inconsistent herewith or not to take an action consistent with the terms of, or required by, this Agreement, the validity, legality and enforceability of the remaining provisions and obligations contained or set forth in this Agreement shall not in any way be affected or impaired, unless the foregoing inconsistent action or the failure to take an action constitutes a material breach of this Agreement or makes this Agreement impossible to perform, in which case this Agreement shall terminate. Upon such determination that any term or other provision is null, void or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible in a mutually acceptable manner in order that the transactions contemplated by this Agreement and the Contemplated Transactions be consummated as originally contemplated to the greatest extent possible.

 

Section 5.4     Entire Agreement. This Agreement and the Merger Agreement, including the Company Disclosure Letter, the Parent Disclosure Letter and the exhibits thereto, together with the other instruments referred to therein, constitute the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties, or any of them, with respect to the subject matter hereof and thereof.

 

Section 5.5     Specific Performance. The parties agree that irreparable damage, for which monetary damages would not be an adequate remedy, would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached by the parties. Each Stockholder acknowledges and agrees that (a) the Company shall be entitled to an injunction, specific performance, or other equitable relief, to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof, without proof of damages, prior to Expiration Time, this being in addition to any other remedy to which the Company may be entitled at law or in equity, and (b) the right of specific enforcement is an integral part of the transactions contemplated by this Agreement and without that right, the Company would not have entered into the Merger Agreement. Each Stockholder agrees that it will not oppose the granting of specific performance and other equitable relief on the basis that the other parties have an adequate remedy at law or that an award of specific performance is not an appropriate remedy for any reason at law or in equity. Each Stockholder acknowledges and agrees that if the Company seeks an injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, it shall not be required to provide any bond or other security in connection with any such injunction.

 

6

 

 

Section 5.6     Amendments; Waivers. At any time prior to the Expiration Time, any provision of this Agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by the Company, each Stockholder and Parent, or in the case of a waiver, by the party against whom the waiver is to be effective. Notwithstanding the foregoing, no failure or delay by a party hereto in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise of any other right hereunder.

 

Section 5.7     Governing Law; Venue; Waiver of Jury Trial.    

 

(a)     THIS AGREEMENT, AND ALL CLAIMS OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT) THAT MAY BE BASED UPON, ARISE OUT OF RELATE TO THIS AGREEMENT, OR THE NEGOTIATION, EXECUTION OR PERFORMANCE OF THIS AGREEMENT, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF.

 

(b)     THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE OR, IF THE COURT OF CHANCERY OF THE STATE OF DELAWARE OR THE DELAWARE SUPREME COURT DETERMINES THAT, NOTWITHSTANDING SECTION 111 OF THE DGCL, THE COURT OF CHANCERY DOES NOT HAVE OR SHOULD NOT EXERCISE SUBJECT MATTER JURISDICTION OVER SUCH MATTER, THE SUPERIOR COURT OF THE STATE OF DELAWARE AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE STATE OF DELAWARE SOLELY IN CONNECTION WITH ANY DISPUTE THAT ARISES IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS AGREEMENT OR IN RESPECT OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AND WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT OR ANY SUCH DOCUMENT THAT IT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED EXCLUSIVELY BY SUCH A DELAWARE STATE OR FEDERAL COURT. THE PARTIES CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN ANY MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF.

 

(c)     EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY; AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 5.7.

 

Section 5.8     No Third Party Beneficiaries. There are no third party beneficiaries of this Agreement and nothing in this Agreement, express or implied, is intended to confer on any person other than the parties hereto (and their respective successors, heirs and permitted assigns), any rights, remedies, obligations or liabilities, except as specifically set forth in this Agreement.

 

Section 5.9     Assignment; Binding Effect. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto (whether by operation of law or otherwise) without the prior written consent of the other parties, except that Parent may assign this Agreement (in whole but not in part) in connection with a permitted assignment of the Merger Agreement by Parent, as applicable. Subject to the preceding sentence, this Agreement

 

7

 

 

shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns and, in the case of any Stockholder that is an individual, his, her or its estate, heirs, beneficiaries, personal representatives and executors.

 

Section 5.10     No Presumption Against Drafting Party. Each of the parties to this Agreement acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement and that it has executed the same with the advice of said counsel. Each party and its counsel cooperated in the drafting and preparation of this Agreement and the documents referred to in this Agreement, and any and all drafts relating thereto exchanged between the parties shall be deemed the work product of the parties and may not be construed against any party by reason of its preparation. Accordingly, any rule of Law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted it is of no application and is expressly waived.

 

Section 5.11     Counterparts. This Agreement may be executed in counterparts, including via facsimile or email in “portable document format” (“.pdf”) form transmission, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each of the Parties and delivered to the other Parties, it being understood that all Parties need not sign the same counterpart.

 

Section 5.12     Independent Committee. All amendments or waivers of any provision of this Agreement by the Company and all decisions or determinations contemplated by this Agreement to be made by the Company shall be made by the Independent Committee and no amendment or waiver of any provision of this Agreement by the Company and no decision or determination contemplated by this Agreement to be made by the Company shall be made, or action taken, by the Company or the Board with respect to this Agreement without first obtaining the approval of the Independent Committee. The Independent Committee, and only the Independent Committee, may pursue any action or litigation with respect to breaches of this Agreement on behalf of the Company.

 

[Remainder of page intentionally left blank]

 

 

 

 

 

 

 

8

 

 

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Agreement as of the date first written above.

 

STOCKHOLDERS

 

 

Naphtha Holding Ltd.

 

By: /s/ Eran Saar                              

Name: Eran Saar

Title:   Chief Executive Officer

 

 

 

By: /s/ Noa Lendner                         

Name: Noa Lendner

Title:   General Counsel

 

 

I.O.C. - Israel Oil Company, Ltd.

 

By: /s/ Eran Saar                              

Name: Eran Saar

Title:   Chief Executive Officer

 

 

 

By: /s/ Noa Lendner                         

Name: Noa Lendner

Title:   General Counsel

 

 

 

Mr. Haim Tsuff

 

/s/ Haim Tsuff                                   

 

 

 

 

 

 

[SIGNATURE PAGE TO VOTING AND SUPPORT AGREEMENT]

 

 

 

 

COMPANY

 

Isramco, Inc.

 

By: /s/ Edy Francis                                      

Name: Edy Francis

Title:   Co-Chief Executive Officer / Chief

            Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

[SIGNATURE PAGE TO VOTING AND SUPPORT AGREEMENT]

 

 

 

 

 

Schedule A

 

	
			Stockholder

				 	
			Address

				 	
			Common Stock Owned of Record

				 	 	
			Common Stock Beneficially Owned

				 
	
			Tsuff

				 	
			8 Granit St., P.O. Box 10188, Petah-Tikva Israel 49222

				 	 	61,679	 	 	 	1,984,196	 
	
			NHL

				 	
			8 Granit St., P.O. Box 10188, Petah-Tikva Israel 49222

				 	 	1,592,841	 	 	 	1,592,841	 
	
			Parent

				 	
			8 Granit St., P.O. Box 10188, Petah-Tikva Israel 49222

				 	 	329,676	 	 	 	329,676

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