Document:

diod-ex101_29.htm

EXHIBIT 10.1

CONSENT TO CREDIT AGREEMENT

 

THIS CONSENT TO CREDIT AGREEMENT dated as of October 16, 2018 (this “Consent”) is entered into among DIODES INCORPORATED, a Delaware corporation (the “Domestic Borrower”), DIODES INTERNATIONAL B.V., a besloten vennootschap met beperkte aansprakelijkheid organized under the laws of the Netherlands, having its statutory seat in Amsterdam, the Netherlands and registered with the trade register of the Chambers of Commerce in the Netherlands under number 34274981 (the “Foreign Borrower” and together with the Domestic Borrower, the “Borrowers” and each, individually, a “Borrower”), certain Subsidiaries of the Domestic Borrower identified on the signature pages hereto as subsidiary guarantors (the “Subsidiary Guarantors”), the Lenders identified on the signature pages hereto and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”).

 

PRELIMINARY STATEMENTS

The Borrowers, Subsidiary Guarantors, the Lenders and the Administrative Agent are parties to that certain Amended and Restated Credit Agreement dated as of October 26, 2016, as amended by that certain Amendment No. 1 to Amended and Restated Credit Agreement and Limited Waiver dated as of February 13, 2017, as amended by that certain Consent to Credit Agreement dated as of May 22, 2017, as amended by that certain Amendment No. 2 to Amended and Restated Credit Agreement dated as of August 24, 2017, as amended by that certain Consent to Credit Agreement dated as of April 20, 2018 (as further amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”).

The Domestic Borrower has informed the Administrative Agent and the Lenders that it wishes to engage in the following transaction:

	
 
	
A.
	
Diodes Hong Kong Holding Company Limited (“DHH”) has pledged 100% of the entire issued capital of Diodes Hong Kong Limited (“DHK”) in favor of the Administrative Agent pursuant to the Share Charge dated as of April 26, 2016 between DHH and the Administrative Agent (the “DHK Share Pledge”). The Foreign Borrower has pledged 100% of the entire issued capital of DHH in favor of the Administrative Agent pursuant to the Share Charge dated as of August 14, 2013 between the Foreign Borrower and the Administrative Agent (the “DHH Share Pledge”).  

	
 
	
B.
	
DHH will be amalgamated with DHK on or about December 31, 2018 and DHH will be the surviving entity (the “DHK Transaction”). 

The Borrowers have requested that, notwithstanding Section 5.3 of the DHK Share Pledge (or any other provision of the DHK Share Pledge) or any provision of the DHH Share Pledge, the Administrative Agent and the Lenders consent to the DHK Transaction. Subject to the terms and conditions set forth herein, the Administrative Agent and each of the Lenders party hereto have agreed to grant such request of the Borrowers.

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

1.Defined Terms.  Except as otherwise provided herein, all capitalized undefined terms used in this Consent (including, without limitation, in the introductory paragraph and the preliminary statements hereto) shall have the meanings assigned thereto in the Credit Agreement.

 

 

2.Consent.  Subject to the terms and conditions hereof, and notwithstanding Section 5.3 of the DHK Share Pledge (or any other provision of the DHK Share Pledge) and any provision of the DHH Share Pledge, the Administrative Agent and the Lenders hereby consent to the DHK Transaction.  Further, the Administrative Agent and Lenders agree and acknowledge that upon the consummation of the DHK Transaction and the extinguishment of the separate legal existence of DHK, the DHK Share Pledge shall be automatically terminated. 

3.Conditions to Effectiveness.  This Consent shall be effective upon satisfaction of each of the following conditions (such date, the “Consent Effective Date”):

(a)The Administrative Agent’s receipt of the following, each of which shall be originals or electronic images in a portable document format (e.g. “.pdf” or “.tif”) (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Consent Effective Date and each in form and substance reasonably satisfactory to the Administrative Agent and each of the Required Lenders: 

(i)executed counterparts of this Consent signed by the Borrowers, the Guarantors, the Administrative Agent and the Required Lenders; and

(ii)such other assurances, certificates, documents, information, consents or opinions as the Administrative Agent, the L/C Issuer, the Swing Line Lender or the Required Lenders reasonably may require.

(b)The Borrowers shall have paid all reasonable fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) prior to or on the Consent Effective Date. 

4.Effect of this Consent.  Except as expressly provided herein, the Credit Agreement, the Collateral Agreement and the other Loan Documents shall remain unmodified and in full force and effect.  Except as expressly set forth herein, this Consent shall not be deemed (a) to be a waiver of, or consent to a modification of or amendment of, any other term or condition of the Credit Agreement, the Collateral Agreement or any other Loan Document, (b) to prejudice any other right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement, the Collateral Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented or otherwise modified from time to time, (c) to be a commitment or any other undertaking or expression of any willingness to engage in any further discussion with the Borrowers or any other Person with respect to any waiver, amendment, modification or any other change to the Credit Agreement, the Collateral Agreement or the other Loan Documents or any rights or remedies arising in favor of the Lenders or the Administrative Agent, or any of them, under or with respect to any such documents, (d) to be a waiver of, or consent to a modification or amendment of, any other term or condition of any other agreement by and among any Loan Party, on the one hand, and the Administrative Agent or any other Lender, on the other hand or (e) to be a course of dealing or a consent to any departure by the Borrowers from any other term or requirement of the Credit Agreement.  References in this Consent to the Credit Agreement (and indirect references such as “hereunder”, “hereby”, “herein”, and “hereof”) and in any Loan Document to the Credit Agreement shall be deemed to be references to the Credit Agreement as modified hereby.

5.Representations and Warranties/No Default.  By their execution hereof, each Loan Party hereby represents and warrants as follows:

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(a)Such Loan Party has the right, power and authority and has taken all necessary corporate and other action to authorize the execution and delivery of, and the performance in accordance with their respective terms of the transactions consented to in, this Consent and each other document executed in connection herewith to which it is a party.

(b)This Consent and each other document executed in connection herewith has been duly executed and delivered by its duly authorized officers, and each such document constitutes the legal, valid and binding obligation of such Loan Party, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies.

(c)Each of the representations and warranties set forth in the Credit Agreement and the other Loan Documents is true and correct as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01 of the Credit Agreement. 

(d)No Default or Event of Default has occurred or is continuing nor would any Default or Event of Default result after giving effect to this Consent and the transactions contemplated hereby.

(e)No Loan Party is an EEA Financial Institution.

6.Reaffirmations.  (a) Each Loan Party agrees that the transactions contemplated by this Consent shall not limit or diminish the obligations of such Person under, or release such Person from any obligations under, the Credit Agreement (including the Guaranty), the Collateral Agreement and each other Loan Document to which it is a party, (b) each Loan Party confirms, ratifies and reaffirms its obligations under the Credit Agreement (including the Guaranty), the Collateral Agreement and each other Loan Document to which it is a party, and (c) each Loan Party agrees that, except as otherwise expressly agreed in this Consent, the Credit Agreement (including the Guaranty), the Collateral Agreement and each other Loan Document to which it is a party remain in full force and effect and are hereby ratified and confirmed.

7.Confirmation as to Dutch Collateral Documents.  Reference is made to (i) that certain Deed of Pledge of Shares dated October 20, 2016, among the Domestic Borrower, Pericom Semiconductor Corporation and Diodes Investment Company, as pledgors, Bank of America, N.A. as pledgee and DHBV, as company (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “DHBV Dutch Share Pledge”), (ii)  that certain Deed of Pledge of Shares dated July 21, 2016, among DHBV, as pledgor, the Administrative Agent as pledgee and the Foreign Borrower as company (the “Foreign Borrower Dutch Share Pledge”), (iii) that certain omnibus pledge agreement dated 8 January 2013, between the Foreign Borrower as pledgor and Bank of America, N.A. as pledgee (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Foreign Borrower Omnibus Pledge Agreement”) and (iv) that certain omnibus pledge agreement dated July 18, 2016, between DHBV as pledgor and Bank of America, N.A. as pledgee (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “DHBV Omnibus Pledge Agreement”, together with the Foreign Borrower Omnibus Pledge Agreement, the Foreign Borrower Dutch Share Pledge and the DHBV Dutch Share Pledge, the “Dutch Collateral Documents”).  Each party to the Dutch Collateral Documents hereby confirms that:

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(a)the Credit Agreement (after giving effect to this Consent), and the other Loan Documents will remain in full force and effect and any reference in the Loan Documents to the Credit Agreement or to any provision of the Credit Agreement will be construed as a reference to the Credit Agreement, or that provision, after giving effect to this Consent;

(b)notwithstanding the consents to the Credit Agreement pursuant to this Consent, the Dutch Collateral Documents and the security interests created thereunder will remain in full force and effect and will continue to secure all liabilities which are expressed to be secured by them and the rights of the Loan Parties under such security interest will not be affected by this Consent;

(c)any amount owed by any Borrower under the Credit Agreement (after giving effect to this Consent) is part of (i) the definition of Secured Obligations (as included/defined in the Dutch Collateral Documents) and (ii) each Loan Party’s Parallel Debts (as included/defined in the Credit Agreement); and

(d)at the time of the entering into the Dutch Collateral Documents, it was their intention that the security rights created pursuant to the Dutch Collateral Documents would secure the Foreign Obligations as they may be amended, restated, supplemented or otherwise modified from time to time, including amendments to the Credit Agreement and the Loan Documents, including, for the avoidance of doubt, the matters of the type addressed by this Consent.

8.Miscellaneous

(a)Governing Law.  THIS CONSENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.  Without limiting the general applicability of the foregoing and the terms of the other Loan Documents to this Consent and the parties hereto, the terms of Section 11.14 and Section 11.15 of the Credit Agreement are incorporated herein by reference, mutatis mutandis.

(b)Loan Document.  This Consent shall constitute a “Loan Document” under and as defined in the Credit Agreement.

(c)Counterparts; Electronic Execution.  This Consent may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Consent by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Consent.  

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

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

(f)Netherlands Law. If the Foreign Borrower and/or DHBV is represented by an attorney in connection with the signing and/or execution of this Consent or any other agreement, deed or 

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document referred to in or made pursuant to this Consent, it is hereby expressly acknowledged and accepted by the other parties to this Consent that the existence or extent of the attorney’s authority and the effects of the attorney’s exercise or purported exercise of his or her authority shall be governed by the laws of the Netherlands.

[Remainder of page intentionally blank.]

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IN WITNESS WHEREOF, the parties hereto have caused this Consent to be duly executed as of the date first above written.

DOMESTIC BORROWER:

 

DIODES INCORPORATED

 

By:  /s/Richard D. White

 

Name:Richard D. White

 

Title:CFO

 

FOREIGN BORROWER:

 

DIODES INTERNATIONAL B.V.

 

By:  /s/ Richard D. White

 

Name:Richard D. White

 

Title:Managing Director A

By:  /s/Bauke Faber

 

Name:___Bauke Faber__________________

 

Title:Managing Director B

 

SUBSIDIARY GUARANTORS:

 

DIODES HOLDINGS UK LIMITED

 

By:  /s/Richard D. White

 

Name:Richard D. White

 

Title:CFO

Signature Page to Consent to Credit Agreement

Diodes Incorporated

 

DIODES ZETEX LIMITED

 

By:  /s/Richard D. White

 

Name:Richard D. White

 

Title:CFO

DIODES HOLDING B.V.

 

By:  /s/Richard D. White

 

Name:Richard D. White

 

Title:  Managing Director A

 

 

 

By:  /s/Bauke Faber

 

Name:_Bauke Faber_____________________

Title:  Managing Director B

 

 

 

Signature Page to Consent to Credit Agreement

Diodes Incorporated

 

BANK OF AMERICA, N.A.,

as Administrative Agent

 

 

By:  /s/ Anthony W. Kell

 

Name:  Anthony W. Kell

 

Title:Vice President

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

BANK OF AMERICA, N.A., 

as a Lender, L/C Issuer and Swing Line Lender

 

By:  /s/Jennifer Yan

 

Name:  Jennifer Yan

 

Title:Senior Vice President

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

COMPASS BANK, 

as a Lender

By:  /s/Michael Sheff

 

Name:  Michael Sheff

 

Title:Senior Vice President

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

CITIBANK, N.A.,

as a Lender

 

 

By:  /s/ Randy Humphreys

 

Name:  Randy Humphreys

 

Title:Director

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

BMO HARRIS BANK N.A.,

as a Lender

By:  /s/Michael Kus

 

Name:  Michael Kus

 

Title:Managing Director

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

REGIONS BANK,

as a Lender

By:  /s/ Derek Miller

 

Name:  Derek Miller

 

Title:Vice President

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

SILICON VALLEY BANK,

as a Lender

By:  /s/Ryan Thompson

 

Name:  Ryan Thompson

 

Title:Vice President

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

CAPITAL ONE, N.A.,

as a Lender

By:  /s/ Seth Meier

 

Name:  Seth Meier

 

Title:Director

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

COMERICA BANK,

as a Lender

By:  /s/ John Smithson

 

Name:  John Smithson

 

Title:Vice President

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

MUFG UNION BANK, N.A.,

as a Lender

By:  /s/Matthew Antioco

 

Name:  Matthew Antioco

 

Title:Director

 

 

Signature Page to Consent to Credit Agreement

Diodes Incorporated 

 

WELLS FARGO BANK, N.A.,

as a Lender

By:  /s/Derek Jensen

 

Name:  Derek Jensen

 

Title:Vice President

Signature Page to Consent to Credit Agreement

Diodes Incorporateddiod-ex102_54.htm

Exhibit 10.2

鼎虹电子大楼相关租赁合同补充协议

Amendment to Dinghong Building Lease Agreements

上海鼎虹电子有限公司,法定地址:上海市松江区新桥镇陈春路999号(“甲方”)

Shanghai Dinghong Electronic Co. Ltd., Address: 999, Chenchun Rd, Xingqiao Township, Songjiang District, Shanghai. (Party A)

上海凯虹电子有限公司,法定地址:上海市松江区新桥镇陈春路999号5幢(“乙方”)

SKE, Address: Building 5, 999, Chenchun Rd, Xingqiao Township, Songjiang District, Shanghai. (Party B)

甲方和乙方合称为双方,分别称为甲乙一方。

Party A and Party B are collectively referred to as the Parties, respectively, a Party.

鉴于甲乙双方就上海市松江区375号地块签署#1楼,#2楼等相关租赁合同(“租赁合同”,详细名称与合同编号如附件);

WHEREAS the Parties have signed lease agreements relating to the Building #1, #2 and so on at the Shanghai Songjiang No. 375 Land Block ("Lease Agreements", the detailed names and agreement numbers  as attached herein);

鉴于甲乙双方同意修改租赁合同,根据有关法律规定,甲乙双方经平等友好协商,一致同意订立本修改协议如下条款,作为对租赁合同的修改和补充:

WHEREAS the Parties agree to amend the Lease Agreements, pursuant to the relevant laws, Party A and Party B have agreed to enter into the following clauses of this amendment agreement as amendment and supplement to the Lease Agreements as follows:

	
 
	
1.
	
甲方和乙方之间在本修改协议生效前的所有的有效租赁合同( 包括但不限于租金不受本补充协议影响的部分,如危险品仓库租赁合同LE-

1

 

Exhibit 10.2

	
 
		
0301/0401与涵盖在租赁合同LE-0403/0406中的综合楼1F),除另有特别约定外(如涵盖在租赁合同LE-0403/0406中的六层男生宿舍楼),所有租赁期一律修改为5年,从2019年1月1 日起至2023年12月31 日止。原相关租赁合同有关期间部分,也相应修改。

 

1. All valid lease agreements between Party A and Party B prior to this amendment agreement (including but not limited to premises within those lease agreements whose rents would not be affected by this amendment agreement, such as the Dangerous Goods Warehouse Leasing Agreement as LE-0301/0401 and the first floor of the General Building covered in the lease contract of LE-0403/0406), unless otherwise specified (such as the six-floor male dormitory building covered in the lease agreement of LE-0403/0406), all lease term are hereby modified to 5 years, beginning from January 1, 2019 to December 31, 2023. The relevant portion(s) of the original related leasing agreements shall also be amended accordingly.

 

	
 
	
2.
	
除租赁合同另有约定外,租赁房屋配套的场地使用费,每月总计32,686.85人民币,由乙方负责承担。相关税费,包括但不限于房产税,所得税,印花税,按政府规定,应由甲方负责承担。

2. Unless otherwise specified on the Lease Agreements,  the facilities fee of will be a total of RMB 32,686.85 per month that shall be borne by the Party B. The Part A shall be responsible to all related taxes, including but not limited to property tax, income tax, stamp duty according to government regulations.

 

	
 
	
3.
	
原租赁合同关于租金部分删除,修改如下:(关于租金部分,在执行过程中,如有疑义,双方应以诚实信用原则,参照附件一的Excel文件处理)。

3. The rent of each lease agreement shall be modified as follows: (in case of any dispute relating to the amount of the rent, during the course of performance of this amendment agreement, the Parties shall act in the principle of good faith by referring to the excel sheet within the Annex I).

2

 

Exhibit 10.2

 

	
 
	
a.
	
1#楼租金-#1B (合同编号SKE-LE-0101):每月租金70,238.22人民币。

Building #1 Rent- #1B (Agreement docket number SKE-LE-0101): monthly rent, RMB 70,238.22.

	
 
	
b.
	
1#楼租金-#6B(合同编号SKE-LE-0101):每月租金3,034.00人民币。

Building #1 Rent- #6B (Agreement docket number SKE-LE-0101): monthly rent, RMB 3,034.00.

	
 
	
c.
	
1#楼租金-Visitors Room(合同编号SKE-LE-0101):每月租金2,431.44人民币。

Building #1 Rent- Visitors Room (Agreement docket number SKE-LE-0101): monthly rent, RMB 2,431.44.

	
 
	
d.
	
1#楼租金-Cond. Room(合同编号SKE-LE-0101):每月租金1,823.58人民币。

Building #1 Rent-Cond. Room (Agreement docket number SKE-LE-0101):  monthly rent, RMB 1,823.58.

	
 
	
e.
	
1#楼租金-Comp Air(合同编号SKE-LE-0101):每月租金2,735.37人民币。

Building #1 Rent- Comp Air (Agreement docket number SKE-LE-0101): monthly rent, RMB 2,735.37.

	
 
	
f.
	
2#A楼1F (合同编号SKE-LE-0201/0202):每月租金71,630.22人民币。

1F, Building #2A (Agreement docket number SKE-LE-0201/0202): monthly rent, RMB 71,630.22.

	
 
	
g.
	
2#A楼2F, #2B楼1F (合同编号SKE-LE-0301):每月租金74,946.10人民币。

2F, Building 1#A; 1F, Building #2B (Agreement docket number SKE-LE-0301): monthly rent, RMB 74,946.10.

	
 
	
h.
	
2#A楼3F(合同编号SKE-LE-0401):每月租金62,831.45人民币。

3

 

Exhibit 10.2

3F, Building 2#A (Agreement docket number SKE-LE-0401): monthly rent, RMB 62,831.45.

 

	
 
	
i.
	
2#楼附属设施变电站(合同编号SKE-LE-0301):每月租金10,473.43人民币。2#楼附属设施混气站(合同编号SKE-LE-0301):每月租金12,535.61人民币。

Transformer Substation annexed to Building 2# (Agreement docket number SKE-LE-0301): monthly rent, RMB 10,473.43. Gas Mixing Station annexed to Building 2# (Agreement docket number SKE-LE-0301): monthly rent, RMB 12,535.61.

	
 
	
j.
	
发电机房(合同编号SKE-LE-0405):每月租金5,242.79人民币。

Electricity Power Room (Agreement docket number SKE-LE-0405): monthly rent, RMB 5,242.79.

	
 
	
k.
	
综合楼2F(合同编号SKE-LE-0406):每月租金32,672.48人民币

2F, Multifunctional Building (Agreement docket number SKE-LE-0406): monthly rent, RMB 32,672.48.

	
 
	
l.
	
小别墅:每月租金13,800人民币。

Little Villa: monthly rent, RMB 13,800.

 

	
 
	
4.
	
原租赁合同关于物业管理费,修改为每月总计69,245.99人民币。

4.  The property management fees within Lease Agreements shall be revised as a total of 69,245.99 per month.

 

	
 
	
5.
	
租赁合同其他部分和条款不变。

5. All the other terms and conditions remain the same.

 

 

甲方:上海鼎虹电子有限公司乙方:上海凯虹电子有限公司

4

 

Exhibit 10.2

授权代表签名:授权代表签名:

公司印章: 公司印章:

日期:日期:

Party A: Shanghai Dinghong Elec. Co. Ltd.Party B: SKE

Duly Authorized Representative: Duly Authorized Representative:

/s/ Xuejun Qiu /s/ Justin Kong

Company Stamp: Company Stamp:

Date:Date:

 

 

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