Document:

Exhibit 10.19.12

 

EXECUTION
COPY

 

FOURTH AMENDMENT TO

AMENDED AND RESTATED CREDIT AGREEMENT

 

FOURTH AMENDMENT TO AMENDED
AND RESTATED CREDIT AGREEMENT, dated as of January 17, 2006 (this “Amendment”),
in respect of the Amended and Restated Credit Agreement, dated as of April 30,
2004 (as amended, supplemented or otherwise modified prior to the date hereof,
the “Existing Credit Agreement”; as amended hereby and as further
amended, restated, supplemented or otherwise modified and in effect from time
to time, the “Credit Agreement”) among THE DOE RUN RESOURCES
CORPORATION, a New York corporation (the “Borrower”), the financial
institutions from time to time parties thereto (the “Lenders”), and THE
RENCO GROUP, INC., a New York corporation, as agent for the Lenders (in
such capacity, the “Agent”).

 

WHEREAS, the parties hereto
desire to amend the Existing Credit Agreement as more fully set forth herein;

 

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

 

1.                                       Defined Terms. Unless otherwise defined herein, terms
defined in the Existing Credit Agreement are used herein as therein defined.

 

2.                                       Amendments to Existing Credit Agreement. The Existing Credit Agreement is hereby
amended as follows:

 

(a)                                  Section 1 of the Existing Credit
Agreement is hereby amended by adding the following definition in alphabetical
order:

 

“Fourth Amendment Effective Date’: the “Effective
Date” as defined under Section 5 of the Third Amendment, dated as of January   ,
2006, to the Credit Agreement.”

 

(b)                                 Section 1 of the Existing Credit
Agreement is hereby amended by deleting the definition of “Maturity Date” and
substituting the following in lieu thereof:

 

“‘Maturity Date’: June 16, 2006.”

 

(c)                                  Section 4.1.1.
of the Existing Credit Agreement is hereby replaced by the following Section 4.1.1.:

 

“4.1.1. Notwithstanding the foregoing, (i) at all
times, other than during the period commencing on March 14, 2006 and
ending on April 18, 2006, the Company shall pay to the Agent an aggregate
amount (A) equal to the maximum

 

 

amount of outstanding principal of the Loan plus
accrued and unpaid interest in respect of such principal amount of the Loan
permitted to be repaid pursuant to Section 7.3(m)(vi)(C) of the
Congress/CIT Loan and Security Agreement and (B) sufficient such that no
payment would be required to be made upon any exercise of the Put Option (as
defined in the Warrant Agreement) so long as any amount of the Loan remains
unpaid, (ii) during the period commencing on the Effective Date and ending
on February 13, 2006, the Company shall have paid to the Agent an
aggregate amount equal to at least $2,000,000 of principal plus all
accrued and unpaid interest thereon, (iii) during the period commencing on
the Effective Date and ending on March 13, 2006, the Company shall have
paid to the Agent an aggregate amount equal to at least $4,000,000 of principal
of the Loan plus all accrued and unpaid interest thereon, (iv) during
the period commencing on the Effective Date and ending on May 12, 2006,
the Company shall have paid to the Agent an aggregate amount equal to at least
$6,000,000 of principal of the Loan plus all accrued and unpaid interest
thereon, and (v) on the Maturity Date, the Borrower shall pay to the Agent
all remaining amounts of principal due on the Loan together with all accrued
and unpaid interest thereon. The Company shall use its best efforts to manage
its affairs so as to repay the Term Loan as promptly as possible, including by
making payments to the Lender on days other than the days set forth above, and
in accordance with the terms set forth above. Furthermore, the Company will
provide to the Agent on a daily basis an accounting in reasonable detail of the
Borrowing Base and the Excess Availability (each as defined in the Congress/CIT
Loan and Security Agreement, but in the case of Excess Availability calculated
without reference to clauses (a)(ii)(C) or (b)(ii)(C) of the
definition of Excess Availability in the Congress/CIT Loan and Security
Agreement).”

 

3.                                       Representations
and Covenants. To induce the Agent and the Lender to enter into this
Amendment, the Borrower ratifies and confirms each representation and warranty
set forth in the Credit Agreement as if such representations and warranties
were made on even date herewith, and further represents and warrants that (i) no
material adverse change has occurred in the financial condition or business
prospects of the Borrower since the date of the last financial statements
delivered to the Agent and the Lender, (ii) after giving effect to this
Amendment, no Default or Event of Default has occurred and is continuing, and (iii) the
Borrower is fully authorized to enter into this Amendment.

 

4.                                       Waiver.

 

(a)                                  Notwithstanding anything in the Credit
Agreement to the contrary, the Agent and the Lender hereby waive, with
respect to the Loan, compliance with Section 4.1 of the Credit
Agreement during the period beginning with November 30, 2005 and ending on
the Fourth Amendment Effective Date and by signing below and

 

2

 

acknowledge and agree that such waiver shall be deemed to be effective
on November 30, 2005.

 

(b)                                 Notwithstanding anything therein to the contrary,
the Agent and the Lender hereby waive compliance with Section 5(b)(ii) of
Amendment No. 3 to the Credit Agreement, dated as of October 14,
2005, among the Borrower, the Agent and the Lender, and by signing below
acknowledge and agree that such waiver shall be deemed to be effective on October 14,
2005.

 

5.                                       Conditions Precedent. This Amendment shall become effective on
the first date (the “Effective Date”) on which each of the following
conditions precedent shall have been satisfied:

 

(a)                                  Fees and Expenses. The Agent and the Lender shall have
received payment of any fees or expenses owed to them by the Borrower as of the
Effective Date,

 

(b)                                 Delivered Documents. On the Effective Date, the Agent shall have
received executed originals of:

 

(i)                                     this
Amendment, executed by a duly
authorized officer of each of the Borrower and the Required Lenders; and

 

(ii)                                  such
other documents or certificates
as the Agent or counsel to the Agent may reasonably request.

 

(c)                                  No Default. On the Effective Date after giving effect to this Amendment, the
Borrower shall be in compliance in all material respects with all of the terms
and provisions set forth in the Credit Agreement and the other Credit Documents
on its part to be observed and no Event of Default shall have occurred and
be continuing.

 

6.                                       Amendment, Waiver and Deferral Fee. In addition to all other fees, charges,
interest and expenses payable by the Company to the Agent and the Lender under
the Credit Agreement, the Company shall pay to the Agent the following fees,
which shall be fully earned as of each respective date thereof, and payable in
full on each such date:  $20,000 on March 13,
2006, if the Loan and all accrued and unpaid interest have not been paid in
full prior to such date; $20,000 on April 14, 2006, if the Loan and all
accrued and unpaid interest have not been paid in full prior to such date;
$20,000 on May 12, 2006, if the Loan and all accrued and unpaid interest
have not been paid in full prior to such date; and $40,000 on the Maturity
Date, if the Loan and all accrued and unpaid interest have not been paid in
full prior to such date.

 

7.                                       Miscellaneous.

 

(a)                                  Limited Effect. Except as expressly consented to hereby,
the Credit Agreement and the other Credit Documents shall remain in full force
and effect in

 

3

 

accordance with their respective terms,
without any consent, amendment, waiver or modification of any provision
thereof; provided, however, that upon the Effective Date, all
references herein and therein to the “Credit Documents” shall be deemed to
include, in any event, the Existing Credit Agreement, this Amendment,
and all other documents delivered to the Agent or any Lender in connection
therewith. Each reference to the
Credit Agreement in any of the Credit Documents shall be deemed to be a
reference to the Credit Agreement as amended hereby.

 

(b)                                 Severability. In case any of the provisions of this
Amendment shall for any reason be held to be invalid, illegal, or
unenforceable, such invalidity, illegality, or unenforceability shall not
affect any other provision hereof, and this Amendment shall be construed as if
such invalid, illegal, or unenforceable provision had never been contained
herein.

 

(c)                                  Execution in Counterparts. This Amendment may be executed in any
number of counterparts, all of which taken together shall constitute one and
the same instrument, and any party hereto may execute this Amendment by
signing one or more counterparts. Delivery of an executed counterpart of a
signature page to this Amendment by facsimile, telecopier or Portable
Document Format (PDF) shall be effective as delivery of an originally executed
counterpart of this Amendment.

 

(d)                                 Governing Law. This Amendment shall be governed by, and
construed and interpreted in accordance with, the laws of the State of New
York; provided, however, that the Agent and the Lender shall
retain all rights under federal law.

 

(e)                                  Rights of Third Parties. All provisions herein are imposed solely
and exclusively for the benefit of the Borrower, the Agent, the Lender, and
their permitted successors and assigns, and no other Person shall be a direct
or indirect legal beneficiary of, or have any direct or indirect cause of
action or claim in connection with this Amendment or any of the other Credit
Documents.

 

(f)                                    COMPLETE AGREEMENT. THIS WRITTEN AMENDMENT AND THE
OTHER WRITTEN AGREEMENTS ENTERED INTO AMONG THE PARTIES REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE
NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

 

[SIGNATURES FOLLOW]

 

4

 

IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their proper and duly authorized officers as of the day and year
first above written.

 

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  THE DOE
  RUN RESOURCES

  
	
   

  	
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Chaput

  	
   

  
	
   

  	
  Name:

  	
  David Chaput

  	
   

  
	
   

  	
  Title:

  	
  V.P Finance, Treasurer and
  CFO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  the Borrower’s Address:

  
	
   

  	
  The Doe Run Resources
  Corporation

  
	
   

  	
  1801 Park 270 Drive

  
	
   

  	
  Suite 300

  
	
   

  	
  St. Louis, Missouri
  63146

  
	
   

  	
  Telecopy: (314)
  453-7178

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AGENT AND
  LENDER:

  
	
   

  	
   

  
	
   

  	
  THE RENCO GROUP, INC., as Agent

  
	
   

  	
  and
  Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  John A. Binko

  	
   

  
	
   

  	
  Name:

  	
  John
  A. Binko

  	
   

  
	
   

  	
  Title:

  	
  Vice
  President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  The
  Renco Group, Inc.

  
	
   

  	
  30
  Rockefeller Plaza

  
	
   

  	
  New
  York, New York 10112

  
	
   

  	
  Telecopy:
  (212) 541-6197Exhibit 10.23.3

 

	
  US$139,062,500.00

  	
   

  	
  September 12, 2002, Amended Effective

  December 9, 2005

  

 

REVISED AND AMENDED SUBORDINATED PROMISSORY
NOTE

 

For value received, DOE RUN PERU S.R.L., with Taxpayer Registration
Number 20376303811, with domicile in Avenida Víctor Andrés Belaunde 147, Vía
Principal 155, Centro Empresarial Real, Torre Real Tres, Piso 9, San Isidro,
duly represented by Albert Bruce Neil, identified with Identity Card for
Residents No 000102841, Jaime Zavala Costa, identified with Identity Card No 09176189, with power of attorney registered in
the Electronic Act No 11015369, Entry C00021, of the Mercantile
Companies Book of the Lima Registry of Legal Entities (the “Borrower”), hereby promises to pay to or
to the order of The Doe Run Resources Corporation, a company organized under
the laws of the State of New York and with offices and domicile at 1801 Park
270 Drive Suite 300, St. Louis, MO 63146 United States of America (the “Holder”) or at such other location as the
Holder shall have designated from time to time in writing, in lawful money of
the United States of America and in immediately available funds, the principal
sum of One hundred thirty-nine million, sixty-two thousand, five hundred and
no/100 U.S. Dollars (U.S.$139,062,500.00) or such lesser principal amount as may then
be outstanding hereunder. The Outstanding Principal Amount shall bear no
interest until the Initial Due Date, as defined below. If the same is not paid
on or prior to the Initial Due Date, such Outstanding Principal Amount shall
thereafter bear interest at a floating rate of interest per annum equal to the
sum of (a) the rate (i) as quoted to the Borrower by Citibank, N.A.,
New York office or other major New York or London commercial bank designated by
the Borrower from time to time, at which such bank is offered U.S. dollar
deposits in the London Interbank Eurodollar Market in an amount equal to the
principal amount to which such rate shall be applied, for one week borrowings,
or (ii) as obtained by the Borrower from the display that appears as page “LIBOR”
on the Reuters Monitor Money Rates Service (or such other page as may replace
the LIBOR page on that service for the purpose of displaying London
Interbank Offered Rates of major banks) as of 11:00 am, London, England time (“LIBOR”) plus (b) 4%, calculated in
arrears on the basis of a 360-day year for the actual number of days involved
and shall be paid in arrears semi-annually calculated from the Initial Due
Date, or upon payment in full, whichever comes first. Except for such
prepayments as are specifically permitted pursuant to the terms of this Note,
the Outstanding Principal Amount shall be repaid on the Initial Due Date or at
any time during the 359-day period following the Initial Due Date, on
demand. The “Initial Due Date”
shall be December 9, 2006 or such later date as extended by application of
the provisions of Section 2(a)(ii)

 

For purposes of this Note, the term “Outstanding
Principal Amount” at any time shall mean the amount of U.S.$
139,062,500.00, less the amount of any principal repaid pursuant to the
provisions of this Note.

 

Application of Payments under this Note is set forth in Section 1.
This Note is subordinated as provided in Section 2. The Outstanding
Principal Amount may be reduced as 

 

1

 

provided in Section 1.
Events of Default are set out in Section 4. Responsibility for withholding
taxes is set out in Section 5. Miscellaneous provisions are set out in
Sections 6, 7 and 8.

 

Presentation, demand, protest and notice of dishonor are hereby waived
by the Borrower.

 

1.                                       Application
of Payments. All payments received by the Holder pursuant to this Note
shall be applied in the following manner:

 

(a)                                 firstly, if an Event
of Default, as defined in Section 4, has occurred, to all costs and
expenses of the Holder or its agents, including legal fees and disbursements,
arising as a result thereof;

 

(b)                                secondly, to current
interest accrued on any amount being paid; and

 

(c)                                 thirdly, to reduce the
Outstanding Principal Amount.

 

2.                                       Subordination

 

(a)                                 The Borrower agrees,
and the Holder by accepting this Note agrees, that the indebtedness evidenced
by this Note:

 

(i)                                                        is
expressly subordinated and subject in right of payment as to all amounts
payable hereunder to the prior payment in full of all Senior Debt, except to
the extent and in the manner set forth in this Section 2;

 

(ii)                                                     that
in case of renewal or extension of the Senior Debt or so long as the Senior
Debt is then outstanding as of the Initial Due Date, the interest-free term of
this Note shall be automatically extended for the same period as such renewal
or extension or until the Senior Debt is then no longer outstanding, if
earlier;

 

(ii)                                                          that
the subordination set out in this Section 2 is for the benefit of the
holders of the Senior Debt; and

 

(iii)                                                       so
long as any Senior Debt is outstanding, no payment of principal or interest
under this Note shall be made except from Cash Flows Available for
Distribution, as the same is defined in the Senior Debt, or if no such term is
defined, except upon the prior consent of the holders of the Senior Debt.

 

(b)                                The Holder agrees that
it will not ask, demand, sue for, take, receive or retain from the Borrower, by
set-off or in any other manner, payment of all or any part of the
Outstanding Principal Amount, any interest, or any other amount payable in
respect of this Note, other than payments made at the times, in the amounts and
to the extent permitted under the provisions hereof, unless and until all of
the Senior Debt has been paid in full or unless the holders of Senior Debt
provide written

 

2

 

consent to such payment or unless such payment is made from Cash Flows
Available for Distribution as provided above. The Holder directs the Borrower
to make, and the Borrower agrees to make, such prior payment of the Senior Debt
in priority to any payments due hereunder. The Holder will not request or
accept any security from the Borrower in respect of the obligations of the
Borrower under this Note unless the holders of the Senior Debt provide written
consent to such security. The Holder unconditionally waives notice of the
incurring of Senior Debt or any part thereof.

 

(c)                                 For purposes of this
Note, the term “Senior Debt” shall mean the principal of and interest on, and
other payments arising under (including any interest accruing after the filing
of a petition in bankruptcy or the commencement of any insolvency or bankruptcy
proceedings with respect to the Borrower), and all commissions, fees,
indemnities, premiums and other amounts payable in respect of, any amounts now
or hereafter owing by the Borrower under (i) that certain Working Capital
Facility between the Borrower and Banco de Credito del Peru (“BCP”) and its
successors and assigns and (ii) that certain Working Capital Finance
Facility Agreement between the Borrower and Servicios Mineros Integrados S.A.C,
and in each of (i) and (ii), together with any extension, modification or
renewal of the same.

 

(d)                                In the event of:

 

(i)                 any
insolvency or bankruptcy case or proceedings, or any receivership, liquidation,
reorganization, moratorium or other similar case or proceeding in connection
therewith, relative to the Borrower, or to its assets;

 

(ii)                  any
liquidation, dissolution or other winding up of the Borrower, whether partial
or complete and whether voluntary or involuntary and whether or not involving
insolvency or bankruptcy; or

 

(iii)                  any
general assignment by the Borrower for the benefit of its creditors or any
other general marshalling of assets and liabilities of the Borrower,

 

then and in
any such event the holders of Senior Debt, shall be entitled to receive payment
in full of all amounts due or to become due on or in respect of all Senior Debt
before the Holder of this Note shall be entitled to receive any payment of any
kind or character on account of this Note, whether in cash, property or
securities.

 

(e)                                 In the event and
during the continuation of any default in the payment when due of any amount
payable in respect of any Senior Debt, or in the event that any event of
default under any Senior Debt (or any event or condition that, with the giving
of notice or lapse of time, or both, would constitute an event of default under
any Senior Debt) shall have occurred and be continuing, unless and until
payment in full of the Senior Debt shall have been made or such event of
default 

 

3

 

under any
Senior Debt (or any event or condition that, with the giving of notice or lapse
of time, or both, would constitute an event of default under any Senior Debt)
shall not be continuing, as the case may be, then no payment shall be made
by the Borrower on or in respect of this Note.

 

(f)                                   Whether or not any
default in payment shall exist under any Senior Debt or any event of default
under any Senior Debt (or any event or condition that, with the giving of
notice or lapse of time, or both, would constitute an event of default under
any Senior Debt) shall have occurred, the Holder shall not, without the prior
written consent of the holders of the outstanding Senior Debt, take any
collateral security for this Note.

 

(g)                                No failure on the part of
the holders of Senior Debt, and no delay in exercising any right, remedy or
power hereunder shall operate as a waiver thereof by the holders of Senior
Debt, nor shall any single or partial exercise by the holders of Senior Debt of
any right, remedy or power hereunder preclude any other or future exercise of
any other right, remedy or power. Each and every right, remedy and power hereby
granted to the holders of Senior Debt, or allowed to the holders of Senior Debt
by law or other agreement shall be cumulative and not exclusive the one of the
other.

 

(h)                                Without in any way
limiting the generality of the foregoing Subsection, the holders of Senior Debt
may, at any time and from time to time, without the consent of or notice to the
Holder, without incurring responsibility to the Holder, and without impairing
or releasing the subordination provided herein or the obligations hereunder of
the Holder, do any one or more of the following:

 

(i)                 change
the manner, place or terms of payment of or extend the time of payment of, or
increase, renew or alter, the Senior Debt, or otherwise amend or supplement in
any manner the Senior Debt or any instrument evidencing the same or any
agreement under which Senior Debt is outstanding;

 

(ii)                  sell,
exchange, release or otherwise deal with any property pledged, mortgaged or
otherwise securing any Senior Debt;

 

(iii)                  release
any person liable in any manner for the Senior Debt; and

 

(iv)                  exercise
or refrain from exercising any rights against the Borrower and any other
person.

 

(i)                                    Upon payment in
full of all Senior Debt, the Holder shall be subrogated to the rights of the
holders of Senior Debt to receive any distribution of remaining assets of the
Borrower, or payments by or on behalf of the Borrower, made on the Senior Debt,
until this Note shall be paid in full.

 

4

 

(j)                                    These subordination
provisions are intended solely to define the relative rights of the Holder and
its successors and assigns on the one hand and the holders of Senior Debt and
their respective successors and assigns on the other hand.

 

3.                                       Endorsement
of Annex. The Holder shall endorse on Annex A attached hereto all payments
of Outstanding Principal Amount. Such endorsements shall be presumptive
evidence as to the Outstanding Principal Amount from time to time, but the
failure to make such endorsements shall not affect the obligations of the
Borrower hereunder.

 

4.                                       Events
of Default and Remedies.

 

(a)                                 Each of the following
events shall be an “Event of Default”:

 

(i)                                                    if
default occurs in the payment of the Outstanding Principal Amount or on
interest or any other amount on this Note when due and payable, and such
default continues for a period of five Banking Days, whether or not the Holder
gives notice of such default;

 

(ii)                                                     if
the Borrower commences a proceeding under the Bankruptcy Law of Peru, as now or
hereafter amended (which as of the date of this Note is referred to as “Texto
Unico Ordinado de la Ley de Reestructuración Patrimonial” ) or under any other
insolvency or similar law (whether now or hereafter in effect) of any
jurisdiction relating to the Borrower, or there is commenced against the
Borrower any such proceeding which remains undismissed for the period of time
permitted for denial under the applicable law, if any, or if the Borrower is
adjudged bankrupt or insolvent; or

 

(iii)                                                       the
Borrower resolves to dissolve or is dissolved or makes a general assignment for
the benefit of creditors, or any action is taken by the Borrower for the
purpose of effecting any of the foregoing (other than a merger or consolidation
as permitted under the terms of the Senior Debt); or

 

(iv)                                                      a
receiver or trustee or other officer or representative of a court or of
creditors, or any court or governmental agency, shall under color of legal
authority take and hold possession of any substantial part of the property
or assets of the Borrower for a period in excess of 180 days; or

 

(v)                                                         an
event of default occurs pursuant to the Senior Debt (but in all cases, any
payment of this Note shall be subject to the subordination in favor of such
Senior Debt as set out in Section 2).

 

(b)                                If any Event of Default
occurs and is continuing, then the Holder may declare the principal amount
of the Note to be due and payable immediately, by written notice to the
Borrower, and upon any such declaration, such Outstanding 

 

5

 

Principal Amount shall become immediately due and payable as specified
in the first paragraph of this Note, all of the foregoing subject always to the
subordination set out in Section 2. At any time after such a declaration
of acceleration has been made and before a judgment or decree for payment of
the money due has been obtained the Holder may, by written notice to the
Borrower, rescind and annul such declaration and its consequences. No such
rescission shall affect any subsequent default or impair any right consequent
thereon.

 

(c)                                 The Borrower covenants
that if the Holder declares that repayment of the Outstanding Principal Amount
is accelerated, the Borrower will, upon demand of the Holder, but subject to Section 2,
pay to the Holder the whole amount then due and payable on this Note, and
henceforth interest shall accrue not only on the Outstanding Principal Amount
but, to the extent that payment of such interest shall be legally enforceable,
also upon any overdue installments of interest, at the rate of interest set out
in this Note. The Borrower further covenants and agrees to pay, upon any Event
of Default and in addition to the foregoing, 
such further amounts as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Holder, its agents and counsel.

 

(d)                                The Holder may waive
any past default hereunder and its consequences, and, upon any such waiver,
such default shall be deemed not to have occurred, and any Event of Default
arising therefrom shall be deemed to have been cured for every purpose of this
Note, but no such waiver shall extend to any subsequent or other default or
impair any right consequent thereon.

 

5.                                       Withholding
Taxes. The Outstanding Principal Amount and any interest on this Note shall
be payable without deduction or withholding for or on account of any present or
future taxes, duties, fees or other charges levied or imposed on this Note or
the Holder by the Republic of Peru or any political subdivision or taxing
authority thereof or therein. If the Borrower is required by law to make any
such deduction or withholding, it will pay such additional amounts as may be
necessary so that the net payment of the Outstanding Principal Amount to the
Holder and every net payment of interest on this Note paid to the Holder will
not be less than the amount provided for herein to be then due and payable,
provided that if the Holder is otherwise liable to taxation in the Republic of
Peru by reason of any relationship with or activity within the Republic of Peru
other than its ownership of this Note, and the Borrower is required to withhold
or deduct taxes solely by reason of such relationship or activity, the Borrower
shall not be obliged to pay to the Holder additional amounts equal to the
withheld amounts. To the extent that the Holder receives any reimbursement or
other amount on account of taxes remitted on the Holder’s behalf by the
Borrower such that the Holder makes double recovery, such reimbursement or other
amount shall be applied by the Holder to the repayment of monies owning under
this Note.

 

6.                                       Binding
Effect; Assignments. This Note shall be binding upon the successors and
assigns of the Borrower and shall inure to the benefit of the successors and assigns
of the Holder.

 

6

 

7.                                       Certain
Definitions. For the purposes of this Note, the term “Banking Day” shall
mean any day on which banks are generally open for business in both New York,
New York, United States of America, and Lima, Peru. As used in this Note, the
terms “Borrower” and “Holder” shall be deemed to include their respective
successors and assigns

 

8.                                       Governing
Law. This Note and the rights and obligations of the parties hereunder
shall be governed by and construed in accordance with the laws of the State of
New York, U.S.A., other than principles of conflicts of law, and the Borrower
hereby undertakes and agrees that this Note may be enforced in any state
or federal district court in the Borough of Manhattan. With respect to this
Note and the enforcement thereof, the Borrower irrevocably submits to the
non-exclusive jurisdiction of the state and/or federal district courts of the
Borough of Manhattan and irrevocably waives any objection which it may have
now or hereafter to such jurisdiction and agrees not to claim that any such
court is not a convenient or appropriate forum.

 

This Revised
and Amended Subordinated Note constitutes an amendment and restatement in its
entirety of that certain Subordinated Promisssory Note of Doe Run Peru S.R.L.
dated September 12, 2002. Notwithstanding such amendment and restatement,
the original term of this Revised and Amended Subordinated Note shall be deemed
to have commenced September 12, 2002, the date of the original
Subordinated Promissory Note.

 

 

	
   

  	
  DOE RUN PERU
  S.R.L.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  Jaime Zavala Costa

  	
   

  
	
   

  	
  Jaime Zavala
  Costa

  
	
   

  	
  Date: December 9,
  2005

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ A. B.
  Neil

  	
   

  
	
   

  	
  Albert Bruce
  Neil

  
	
   

  	
  Date: December 9,
  2005

  
					

 

The Doe Run
Resources Corporation hereby accepts the terms of this Revised and Amended
Subordinated Promissory Note and acknowledged and agrees that is it bound by
the terms of subordinated contained therein.

 

The Doe Run
Resources Corporation

 

	
  By:

  	
    /s/
  David Chaput

  	
   

  

 

Date: 1-16-06

 

7

 

ANNEX ONE

 

OUTSTANDING PRINCIPAL AMOUNT

 

	
  Payment Date:

  	
   

  	
  Principal Payment

  Amount

  	
   

  	
  Remaining Principal

  Amount

  	
   

  	
  Notes:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00100-of-00352.parquet"}]]