Document:

Exhibit 10(c)(c)(c)

 

AMENDMENT dated as of June 1, 2015 (this “Amendment”), to the TERM LOAN AGREEMENT dated as of April 30, 2015 (the “Term Loan Agreement”) among HEWLETT-PACKARD COMPANY (the “Borrower”), the Lenders party thereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”).

 

W I T N E S S E T H :

 

WHEREAS the Borrower and the Lenders under the Term Loan Agreement party hereto, constituting the Required Lenders under the Term Loan Agreement, desire to amend the Term Loan Agreement, on the terms and subject to the conditions set forth herein, to clarify the application of the Term Loan Agreement to the provision by the Borrower and its subsidiaries of collateral under credit support annexes or other arrangements to secure obligations of the Borrower or its subsidiaries in respect of interest rate swap agreements or other hedging agreements.

 

NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

SECTION 1.  Defined Terms.  Capitalized terms used but not otherwise defined herein (including in the preamble and recitals hereto) have the meanings assigned to them in the Term Loan Agreement.

 

SECTION 2.  Amendment of the Term Loan Agreement.  Effective as of the Amendment Execution Date, the Term Loan Agreement is hereby amended as follows:

 

(a)  Section 6.01(g) of the Term Loan Agreement is amended by inserting the text “or other obligations” immediately after each reference to “Indebtedness” therein; and

 

(b)  Section 6.02 of the Term Loan Agreement is amended by inserting the text “or other obligations” immediately after the reference to “Indebtedness” therein.

 

SECTION 3.  Representations and Warranties.  The Borrower hereby represents and warrants to the Administrative Agent and to each of the Lenders, as of the Amendment Execution Date, that:

 

(a)  The representations and warranties of the Borrower set forth in the Term Loan Agreement are true and correct in all material respects on and as of the Amendment Execution Date.

 

(b)  On and as of the Amendment Execution Date, after giving effect to this Amendment, no Default has occurred and is continuing under the Term Loan Agreement.

 

 

SECTION 4.  Amendment Effectiveness.  The Amendment will become effective on the first date (the “Amendment Execution Date”) on which (a) the Administrative Agent (or its counsel) shall have received from (i) the Borrower, (ii) Lenders that constitute at least the Required Lenders under the Term Loan Agreement and (iii) the Administrative Agent, either (x) counterparts of this Amendment (which may include telecopy or other electronic transmission of a signed signature page of this Amendment) signed on behalf of such party or (y) written evidence satisfactory to the Administrative Agent that such party has signed a counterpart of this Amendment and (b) the Borrower has confirmed to the Administrative Agent that amendments to each of the 2012 Credit Agreement and the 2014 Credit Agreement effecting the same changes to Section 6.01(g) and Section 6.02 of each such agreement as the changes to such provisions under the Term Loan Agreement effected hereby have become effective in accordance with their terms.

 

The Administrative Agent shall notify the Borrower and the Lenders of the Amendment Execution Date, and such notice shall be conclusive and binding.

 

SECTION 5.  Effect of Amendment.  (a)  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Term Loan Agreement, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Term Loan Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Term Loan Agreement in similar or different circumstances.

 

(b)  On and after the Amendment Execution Date, each reference in the Term Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import shall be deemed to be a reference to the Term Loan Agreement as amended hereby.

 

SECTION 6.  Applicable Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

 

SECTION 7.  Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which, when taken together, shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging shall be as effective as delivery of a manually executed counterpart of this Amendment.

 

SECTION 8.  Headings.  Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment.

 

[Remainder of page intentionally left blank.]

 

 

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

 

	
 
    	
HEWLETT-PACKARD   COMPANY,
    
	
 
    	
 
    
	
 
    	
by
    
	
 
    	
 
    	
/s/   Rishi Varma
    
	
 
    	
 
    	
Name:   Rishi Varma
    
	
 
    	
 
    	
Title:   SVP, Deputy General Counsel and Assistant Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JPMORGAN   CHASE BANK, N.A., individually and as Administrative Agent,
    
	
 
    	
 
    
	
 
    	
by
    
	
 
    	
 
    	
/s/   Timothy D. Lee
    
	
 
    	
 
    	
Name:   Timothy D. Lee
    
	
 
    	
 
    	
Title:   Vice President
    

 

 

	
 
    	
Name   of Lender: CITIBANK, N.A.,
    
	
 
    	
 
    
	
 
    	
by
    
	
 
    	
 
    	
/s/   Susan Olsen
    
	
 
    	
 
    	
Name:
    	
Susan   Olsen
    
	
 
    	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name   of Lender: BANK OF AMERICA, N.A.,
    
	
 
    	
 
    
	
 
    	
by
    
	
 
    	
 
    	
/s/   Jeannette Lu
    
	
 
    	
 
    	
Name:
    	
Jeannette   Lu
    
	
 
    	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name   of Lender: GOLDMAN SACHS BANK USA,
    
	
 
    	
 
    
	
 
    	
by
    
	
 
    	
 
    	
/s/   Michelle Latzoni
    
	
 
    	
 
    	
Name:
    	
Michelle   Latzoni
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Name   of Lender: DEUTSCHE BANK AG NEW YORK BRANCH,
    
	
 
    	
 
    
	
 
    	
by
    
	
 
    	
 
    	
/s/   Virginia Cosenza
    
	
 
    	
 
    	
Name:
    	
Virginia   Cosenza
    
	
 
    	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
For   any Lender that requires a second signature line:
    
	
 
    	
 
    
	
 
    	
by
    
	
 
    	
 
    	
/s/   Ming K. Chu
    
	
 
    	
 
    	
Name:
    	
Ming   K. Chu
    
	
 
    	
 
    	
Title:
    	
Vice   PresidentExhibit 4.1

 

AMENDMENT TO THE SECOND AMENDED
AND RESTATED TRUST

AGREEMENT OF ACCUSHARES COMMODITIES TRUST I

This Amendment (this
“Amendment”), dated as of June 5, 2015, by ACCUSHARES INVESTMENT MANAGEMENT, LLC, a Delaware limited liability
company, as sponsor (the “Sponsor”) of AccuShares Commodities Trust I (the “Trust”), amends
that certain Second Amended and Restated Trust Agreement of the Trust, made and executed as of June 16, 2014 (the “Trust
Agreement”). Capitalized terms used and not defined herein shall have the meanings set forth in the Trust Agreement.

WHEREAS, pursuant
to Section 13.1 of the Trust Agreement the Sponsor may amend any provision of the Trust Agreement without the consent of any Shareholder,
and without the consent of the Trustee provided that the amendment does not adversely affect any of the Trustee’s rights,
powers, duties, obligations, liabilities or responsibilities under the Trust Agreement;

WHEREAS, the Sponsor
desires to amend the Trust Agreement to change the frequency of Distribution Dates with respect to Regular Distributions for certain
of the Initial Funds and to remove the initial delay in measuring for Corrective Distributions for each of the Initial Funds; and

WHEREAS, the Sponsor
has determined that this Amendment does not adversely affect any of the Trustee’s rights, powers, duties, obligations, liabilities
or responsibilities under the Trust Agreement.

NOW, THEREFORE,
in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, and pursuant to Section 13.1 of the Trust Agreement, the Sponsor hereby amends
the Trust Agreement as follows:

1.                 
The Trust Agreement is hereby amended to delete Section 4.9(a) in its entirety and replace it with the following:

“(a)
Each Initial Fund will effect (i) a distribution on its Up Shares when the Class Value per Share of its Up Shares (after adjusting
for any Net Income Distribution for such Shares) is greater than the Class Value per Share of its Down Shares (after adjusting
for any Net Income Distribution for such Shares), and (ii) a distribution on its Down Shares when the Class Value per Share of
its Down Shares (after adjusting for any Net Income Distribution for such Shares) is greater than the Class Value per Share of
its Up Shares (after adjusting for any Net Income Distribution for such Shares) as of the 15th day of each calendar month, or the
next following business day if the scheduled Regular Distribution Date is not a business day (each such distribution, a “Regular
Distribution”).”

    	 

    	 

    

2.                 
The Trust Agreement is hereby amended to delete Section 4.11 in its entirety and replace it with the following:

“Section
4.11. Corrective Distributions. The Sponsor shall continuously measure for any material deviation between the Class
Value per Share of each Class of each Initial Fund and the Closing Trading Prices of such Class’ Shares where the Closing
Trading Prices are based on one or more trades occurring within the last 30 minutes of trading. If the Closing Trading Prices of
the Shares of any Class of an Initial Fund deviate in the amount set forth in the table below from their Class Value per Share
for the period of time set forth in the table below, such Fund shall distribute to each of its Shareholders (x) a number of its
Down Shares equal to the number of its Up Shares held by such Shareholder (including those to be distributed on such Distribution
Date for the related Regular Distribution or Special Distribution) and (y) a number of its Up Shares equal to the number of its
Down Shares held by such Shareholder (including those to be distributed on such Distribution Date for the related Regular Distribution
or Special Distribution) (a “Corrective Distribution”); provided that the first day in any such period of time
with respect to the AccuShares Spot CBOE VIX Fund shall not occur prior to July 16, 2015. Corrective Distributions will be made
on the next scheduled Regular Distribution Date or Special Distribution Date, in addition to the Regular Distribution or Special
Distribution. If the Closing Trading Price for a Share of a Fund on any Business Day is not based on one or more trades occurring
on the Exchange during the last 30 minutes of that day, the Closing Trading Price for that day will be deemed not to have deviated
from such Share’s Class Value per Share on that day for the purposes of measuring for a Corrective Distribution.

	Initial Fund	Closing Trading Price Deviation from Class Value per Share of Any Fund Class	Duration of Deviation(1)
	AccuShares S&P GSCI Spot Fund	5.0%	3 business days
	AccuShares S&P GSCI Agriculture and Livestock Spot Fund	5.0%	3 business days
	AccuShares S&P GSCI Industrial Metals Spot Fund	5.0%	3 business days
	AccuShares S&P GSCI Crude Oil Spot Fund	5.0%	3 business days
	AccuShares S&P GSCI Brent Oil Spot Fund	5.0%	3 business days
	AccuShares S&P GSCI Natural Gas Spot Fund	7.5%	3 business days
	AccuShares Spot CBOE VIX Fund	10.0%	3 business days
	(1) Days must be consecutive.”

3.                 
Each reference in the Trust Agreement to “this Agreement,” “thereunder,” “thereof,”
“herein” or words of like import referring to the Trust Agreement shall mean and be a reference to the Trust Agreement
as amended by this Amendment. The Trust Agreement is ratified and confirmed in all respects and shall remain in full force and
effect in accordance with its terms as amended by this Amendment.

4.                 
This Amendment may be executed in one or more facsimile or original counterparts, each of which when executed and delivered
shall be deemed an original and all of which together shall constitute one and the same instrument.

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5.                 
All questions concerning the construction, validity and interpretation of this Amendment and the performance of the obligations
imposed by this Amendment shall be governed by the internal law of the State of Delaware, including the DSTA. As between the Sponsor,
on the one hand, and the Shareholders, on the other hand, the Sponsor may construe any of the provisions of this Amendment insofar
as the same may appear to be ambiguous or inconsistent with any other provisions hereof, and any such construction hereof by the
Sponsor in good faith shall be conclusive and binding on the Shareholders as to the meaning to be given to such provisions notwithstanding
any other provision of this Amendment. In construing this Amendment, the presumption shall be in favor of a grant of power to the
Sponsor.

[SIGNATURE PAGE TO FOLLOW]

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IN WITNESS WHEREOF, the
Sponsor has executed this Amendment as of the date above first written.

 

	 	ACCUSHARES INVESTMENT MANAGEMENT, LLC
	 	as Sponsor
	 	 
	 	 
	 	By:	/s/ Forrest G. Gilman
	 	 	Name: Forrest G. Gilman
	 	 	Title: Vice President, Chief Financial Officer and  Treasurer

 

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