Document:

exv10w7

 

Exhibit 10.7

CONFIDENTIAL

May 9, 2005

Jared E. Abbruzzese, Sr. and Wayne Barr, Jr.

Capital & Technology Advisors, Inc.

18 Corporate Woods Boulevard

3rd floor

Albany, New York 12211

Gentlemen:

     This letter of intent (this “Letter”) sets forth the preliminary understanding of the proposed
terms and conditions for the acquisition (the “Transaction”) of Capital & Technology Advisors Inc.,
a Delaware corporation (the “Company”), by Tejas Incorporated, a Delaware corporation, or its
designee (the “Buyer”) with Jared E. Abbruzzese, Sr. and Wayne Barr, Jr., holders of a majority of
the capital stock of the Company (the “Stockholders”) (each, a “Party” and collectively, the
“Parties”), by a transaction which is tax free under the Internal Revenue Code of 1986, as amended,
as further described in the term sheet attached hereto as Exhibit A (the “Term Sheet”). The Term
Sheet is not a contract, and none of the Parties intend that the preliminary understandings
contained therein represent the final agreement with respect to the Transaction. The preliminary
understandings expressed in the Term Sheet are subject, among other things, to the satisfactory
completion of Buyer’s business, financial and legal due diligence of the Company as provided in
Section 4 and the other provisions of this Letter, which may result in a restructuring or
abandoning of the Transaction, and we agree that no liability will arise in the event of any such
abandonment or restructuring except as provided in Section 7 hereof.

	 	1.  	Expenses. Each Party will bear its own internal and external
expenses incurred in connection with this Letter.
	 
	 	2.  	Non-Disclosure. Each Party will take appropriate cautions to
safeguard trade secrets and other confidential or proprietary information
regarding the other Party gained in the context of the proposed Transaction,
whether or not the Transaction is consummated, and will conduct themselves in a
manner that will preserve the confidential nature of the Transaction and shall not
use any such information except for purposes of evaluating the Transaction.
Furthermore, from and after the date hereof, none of the Parties hereto shall
make, and shall cause their respective representatives, officers, directors,
employees and affiliates (collectively, “Representatives”) not to make, any
disclosure regarding this Letter or the Transaction, and will not relate any
information concerning either Party to this Letter or the Transaction,

 

 

	 	   	to any individual or organization, unless required to do so by applicable laws
(in which event the disclosing Party shall provide the other Party with
reasonable prior notice of the contents of the disclosure), provided that
Tejas Incorporated may file this Letter (a) under cover of a Current Report on
Form 8-K to be filed with the Securities and Exchange Commission, and (b) with
any other regulatory body having jurisdiction over the operations of Buyer or
any of its subsidiaries in whatever form and manner required by such
regulatory body. Buyer and Company agree to hold, and to cause their
respective Representatives to hold, all information regarding any potential
Transaction, in strict confidence (“Confidential Information”); provided that
the following types of information shall not be deemed “Confidential
Information” for the purposes hereof and shall not be required to be treated
as such: (i) information that at the time of disclosure is or thereafter
becomes generally available to the public or members of the industries in
which the Buyer or Company conducts business (other than as a result of a
disclosure in violation of the provisions hereof); (ii) information that was
available to a Party from a source other than the Party hereto and was not
obtained from a source in violation of any agreement known to the obtaining
Party or applicable law; (iii) information that one Party hereto has furnished
to a person not a Party to this Letter without a similar restriction on
disclosure; and (iv) information that any Party hereto, or any of its
directors, officers, employees or agents, is, on advice of counsel, compelled
to disclose to any tribunal or else stand liable for contempt. Each Party
hereto agrees that if discussions regarding a potential Transaction are
terminated for whatever reason, each Party shall, within 10 days after such
termination, return or destroy all Confidential Information it has in its
possession that was furnished by the other Party hereto to such other Party
without retaining any copies or other physical embodiments thereof. This
Section 2 will survive any termination of this Letter.
	 
	 	3.  	Option Payment; No Solicitation. On the date of the
acceptance of this Letter by the Company and each of the Stockholders (the
“Acceptance Date”), Buyer will deposit with the Company the amount of $2,000,000
(the “Option Payment”), which Option Payment will be non-refundable except as
provided in Section 7 here, and Buyer shall proceed as quickly as possible to
complete its due diligence of the Company and negotiate definitive agreements
relating to the Transaction (the “Definitive Agreements”) by the date which is 30
days after the Acceptance Date (the earlier to occur of the execution of
Definitive Agreements and the expiration of such 30 day period, the “Termination
Date”). In consideration of such covenant, during the period commencing on the
date of this Letter ending on the Termination Date (as extended pursuant to
agreement among the Parties hereto) (the “Diligence Period”), the Company and each
of the

 

 

	 	   	Stockholders shall not nor will it permit any of their respective directors,
officers, employees, agents, or representatives to, directly or indirectly,
(a) solicit or encourage any inquiries, discussions, or proposals regarding,
(b) continue, propose or enter into negotiations with respect to, or (c) enter
into any agreement or understanding contemplating, any Alternative Transaction
(as hereinafter defined), nor shall any of such persons or entities provide
any information to any person for the purpose of making, evaluating or
determining whether to make or pursue inquiries or proposals with respect to
any Alternative Transaction. The Company will immediately advise Buyer of, and
communicate to Buyer all terms of, any such inquiry or proposal. The term
“Alternative Transaction” means any (i) direct or indirect acquisition or
purchase of any voting securities or equity interest in the Company or any of
its subsidiaries and affiliates, (ii) merger, consolidation, business
combination or similar transaction involving the Company or any of its
subsidiaries and affiliates, (iii) sale of assets of the Company or any of its
subsidiaries and affiliates, or (iv) any other transaction involving the
Company or any of its subsidiaries and affiliates including, without
limitation, any merger, consolidation, business combination or similar
transaction involving or any direct or indirect acquisition or other purchase
of any voting securities or other equity interest in the Company or any of its
subsidiaries and affiliates, the pendency or consummation of which might
reasonably be expected to impede, interfere with, prevent or delay the
Transaction.
	 
	 	4.  	Due Diligence. For the Diligence Period, the Company shall
provide Buyer with reasonable access to its personnel, facilities, and information
with respect to the Company so as to facilitate the Transaction. On or before the
date hereof, the Company provided Buyer with its actual financial results for 2003
and 2004 and projected financial results for 2005 (the “Financial Statements”).
	 
	 	5.  	Indemnity. The Company and each of the Stockholders hereby
agree to indemnify, defend and hold Buyer, its affiliates and their officers,
directors and employees thereof harmless against any and all claims, losses,
liabilities, or expenses which may be asserted against or incurred by any of them
as a result of the Company’s dealings, arrangements or agreements with any
investment banker, broker or finder engaged by the Company in connection with the
Transaction. The Buyer hereby agrees to indemnify, defend and hold the Company,
its affiliates and their officers, directors and employees thereof harmless
against any and all claims, losses, liabilities, or expenses which may be asserted
against or incurred by any of them as a result of the Buyer’s dealings,
arrangements or agreements with any investment banker, broker or finder engaged by
the Buyer in connection with the Transaction.

 

 

	 	6.  	Approvals. The Definitive Agreements will be subject to the
approval of Buyer’s Board of Directors and any other consents that may be required
and shall provide for a target closing date for the Transaction of June 15, 2005.
	 
	 	7.  	Damages. The Parties hereto acknowledge and agree that money
damages would be both incalculable and an insufficient remedy for any breach of
Sections 2, 3, 4, 5 or 8 of this Letter, and that any such breach would cause
irreparable harm. Accordingly, in the event of any breach or threatened breach of
the foregoing provisions of this Letter by either Party, the other Party or
Parties shall be entitled to equitable relief. If a Party is alleged by the other
Party to have violated this Letter and such dispute results in litigation, the
non-prevailing Party to such litigation, as determined by a final, non-appealable
judgment of a court of applicable jurisdiction, shall be obligated to pay the
reasonable legal fees of the prevailing Party associated with such litigation.
	 
	 	   	Termination; Break-Up Fee. Buyer shall have the right to terminate
this Letter at any time for any reason or for no reason, without liability or
any further payments. If the Company shall at any time terminate this Letter
and enter into an Alternative Transaction; then upon the occurrence of such
event (a) the Company shall refund the Option Payment to Buyer and (b) the
Company and the Stockholders shall also pay Buyer a fee equal to thirty
percent (30%) of the amount of such Purchase Price exceeding $65,000,000 (the
“Break-Up Fee”), but in no event shall the Break-Up Fee exceed $4,000,000.
This Section 7 shall survive any termination of this Letter.
	 
	 	8.  	Right of First Refusal: If, at any time the Company or any
of the Stockholders deems an Alternative Transaction acceptable, then the Company
shall give notice to the Buyer prior to entering into any definitive agreements
relating to the contemplated Alternative Transaction, setting forth the terms and
conditions of the proposed Alternative Transaction, together with a copy of the
proposed letter of intent, contract or other document evidencing such offer and
such terms and conditions. The Buyer shall then have the option to purchase the
Company’s interest proposed to be sold in the Alternative Transaction upon
substantially the same terms and conditions as set forth therein. Such option
shall be exercised by notice to Stockholders within thirty (30) days after the
Company’s notice to Buyer. This Section 8 shall survive any termination of this
Letter.
	 
	 	9.  	Operation of Business. During the period between execution
of this Letter and closing of the Transaction (unless this Letter is sooner
terminated in accordance with its terms) the Company will

 

 

(1) operate its business as historically conducted in the ordinary course of
business and (2) not enter into any material agreement without providing the
Buyer with 24 hours prior notice thereof and discussing the same with the
Buyer prior to entering into such agreement; provided, however, that not
withstanding the foregoing provisions of this Section 9:

	 	   	a) With respect to engagements entered into by the Company before the execution of this
Letter, all fees paid to the Company before the closing of the Transaction or booked as
a receivable of the Company before the closing of the Transaction based on a
contractual obligation of a customer to pay will be utilized by the Company to pay all
of its obligations in the ordinary course of business in accordance with its historical
practices (provided that the Company will pay or make other arrangements for the
payment of all its professional fees and expenses relating to the Transaction
immediately prior to the closing thereof) and shall otherwise be deemed to be for the
benefit of the current stockholders of the Company and may be distributed to such
stockholders or otherwise as management of the Company determines, in its sole
discretion;
	 
	 	   	b) With respect to engagements entered into on or after the execution of this Letter,

(x) all recurring retainers and similar periodic fees (excluding event or success-based
fees) paid to the Company before the closing of the Transaction or booked as a
receivable of the Company before the closing of the Transaction based on a contractual
obligation of a customer to pay will be utilized by the Company to pay all of its
obligations in the ordinary course of business in accordance with its historical
practices (provided that the Company will pay or make other arrangements for the
payment of all its professional fees and expenses relating to the Transaction
immediately prior to the closing thereof) and shall otherwise be deemed to be for the
benefit of the current stockholders of the Company and may be distributed to such
stockholders or otherwise as management of the Company determines, in its sole
discretion; and (y) all other fees paid to the Company before the closing of the
Transaction or booked as a receivable of the Company before the closing of the
Transaction based on a contractual obligation of a customer to pay will be deemed to be
for the benefit of the Buyer and shall not be distributed to stockholders of the
Company or utilized to pay any obligation of the Company or otherwise but, rather,
shall be kept in a segregated bank account by the Company and retained in full by the
Company pending the closing of the Transaction; provided, however, that if the
Transaction is not closed by June 15, 2005 or a definitive agreement, subject only to
(i) the registration of the Company as an investment advisor, (ii) anti-trust approval,
if applicable, and (iii) termination upon the occurrence of a material adverse
condition, is not entered into by June 15, 2005, then all such success-based consulting
and transaction fees, whenever received, shall be for the benefit of the stockholders
of the Company and not for the benefit of the Buyer.

 

 

	 	10.  	Miscellaneous. This Letter shall be governed by the laws of
the State of New York other than such laws as would result in the application of
the law of a state other than the State of New York. This Letter may be amended
only by a writing executed by all Parties.

 

 

     If the foregoing correct sets forth our preliminary understandings, kindly sign and return to
me the enclosed copy of this Letter.

Confirmed and Agreed to

As of the Date First Set
Forth Above:

	 	 	 	 	 	 	 
	Capital & Technology Advisors, Inc.	 	Tejas Incorporated
	 
	 	 	 	 	 	 
	By:

	 	/s/ WAYNE BARR, JR. 	 	By:	 	/s/ KURT J. RECHNER 
	

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	Stockholders of Capital & Technology Advisors, Inc.
	 
	 	 	 	 	 	 
	 
	 	/s/ JARED E. ABBRUZZESE, SR. 	 	 	 	 
	

	 	 	 	 	 	 
	

	 	Jared E. Abbruzzese, Sr.	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	/s/ WAYNE BARR, JR. 	 	 	 	 
	

	 	 	 	 	 	 
	

	 	Wayne Barr, Jr.	 	 	 	 

 

 

EXHIBIT A

Acquisition of Capital & Technology Advisors, Inc. by Tejas Incorporated

Summary of Proposed Terms

     Section 1. Purchase. All defined terms used in this Exhibit A, if not otherwise defined, are
used as defined in the letter agreement to which this Exhibit A is attached (the “Letter”).
Pursuant to the Purchase Agreement, the Buyer will purchase the Company.

     Section 2. Purchase Price. Buyer will pay to all of the stockholders of the Company the
following consideration at closing to be allocated ratably among such stockholders based on their
percentage ownership of the Company:

	 	—  	(1) $5,000,000 in cash ($2,000,000 of which shall be in the form of the Option
Payment and $3,000,000 to be delivered on the Closing Date, as hereinafter defined);
and
	 
	 	—  	(2) $60,000,000 in the form of unregistered Buyer common stock (the “Buyer
Stock”) to be delivered on the Closing Date. If the average closing price of the Buyer
Stock for the period of ten (10) trading days prior to the date which is three (3)
trading days before the Closing Date (the “Average Price”) is less than or equal to
nineteen dollars ($19.00), the per share price of the Buyer Stock for purposes of the
calculation in this clause (2) shall be set at nineteen dollar ($19.00). If the
Average Price is greater than nineteen dollars ($19.00) but less than nineteen dollars
and thirty-five cents ($19.35), then the per share price of the Buyer Stock for
purposes of the calculation in this clause (2) shall be set at the Average Price. If
the Average Price is equal to or greater than nineteen dollars and thirty-five cents
($19.35), the per share price of the Buyer Stock for purposes of the calculation in
this clause (2) shall be set at nineteen dollars and thirty-five cents ($19.35).

     Section 3. Closing. The Parties will use their respective best efforts to close the
Transaction by June 15, 2005.

     Section 4. Employment of Company’s Employees. As a condition to the closing of the
Transaction, Jared E. Abbruzzese, Sr., Wayne Barr, Jr. and Shawn O’Donnel will have entered into an
employment agreement with Buyer, which will be mutually satisfactory.

     Section 5. Closing Conditions. The Purchase Agreement will contain standard closing
conditions for the Transaction, including, without limitation, termination of the applicable
waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and no material
adverse change shall have occurred with respect to the Company.

     Section 6. Pre-Closing Conditions. The Company must provide the Financial Statements and be a
registered Investment Adviser pursuant to the Investment Advisers Act of 1940.

 

 

     Section 7. Representations, Warranties and Covenants. Each Party shall use its good faith
efforts to negotiate mutually acceptable representations, warranties and covenants in the Purchase
Agreement as are customary for the nature and size of the Transaction.

     Section 8. Indemnification. The Stockholders shall indemnify Buyer and its related parties
for all Losses (to be defined in the Purchase Agreement). Such indemnity shall be joint and
several among the indemnitors, shall require Losses in an amount to be agreed by the Parties before
any indemnity payments (but at such point the indemnity shall provide coverage for all Losses
incurred from th first dollar) and shall provide coverage for Losses up to an amount to be agreed
by the Parties. This indemnity shall terminate two years from the Closing Date and shall be
secured by an escrow of ten percent (10%) of the shares of Buyer Stock, which shall be funded by
Jared E. Abbruzzese, Sr. and Wayne Barr, Jr.

     Section 9. Registration Rights. Buyer shall file a shelf registration statement with the
Securities and Exchange Commission (the “Shelf Registration Statement”) for the resale of the Buyer
Stock. Jared E. Abbruzzese, Sr. shall be restricted in the amount of Buyer Stock he may resell as
follows: 15% of the Buyer Stock which he received may be sold after the first anniversary of the
Closing Date, an additional 25% may be sold after the second anniversary of the Closing Date and
the remaining additional 60% may be sold after the third anniversary of the Closing Date. Any sale
of the Buyer Stock other than pursuant to the Shelf Registration shall be pursuant to a valid
exemption from the relevant registration requirements (which may include Rule 144 of the Securities
Act of 1933) and, in all cases, shall be subject to the approval of and conditions imposed by
Buyer.

     Section 10. Board Composition and Officers. Following the Closing, the Board of Directors and
Officers of Tejas Incorporated shall be comprised of the individuals listed below:

Tejas Incorporated

John Gorman – Chairman of the Board

William Ingelhart – Director

Charles Mayer – Director

Dennis Punches – Director

Barry Williamson – Director

Clark N. Wilson – Director

Jared E. Abbruzzese, Sr. – Vice Chairman of the Boardexv10w1

 

Exhibit 10.1

FIRST AMENDMENT TO CERTAIN OPERATIVE AGREEMENTS

     THIS FIRST AMENDMENT TO CERTAIN OPERATIVE AGREEMENTS dated as of March 28, 2005 (this
“Amendment”) is by and among CYPRESS SEMICONDUCTOR CORPORATION, a Delaware corporation (the
“Lessee”); WACHOVIA DEVELOPMENT CORPORATION, a North Carolina corporation, (the
“Lessor”); the various financial institutions and other institutional investors which are
parties hereto from time to time as holders of the Credit Notes (individually, a “Credit
Lender” and collectively, the “Credit Lenders”); the various financial institutions and
other institutional investors, which are parties hereto from time to time as Mortgage Lenders
(individually, a “Mortgage Lender” and collectively, the “Mortgage Lenders”) (the
Lessor, each Credit Lender and each Mortgage Lender may be referred to individually as a
“Primary Financing Party” and collectively as the “Primary Financing Parties”); and
WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, as the agent for the Primary
Financing Parties and respecting the Security Documents, as the agent for the Secured Parties (in
such capacity, the “Agent”).

WITNESSETH:

     WHEREAS, the parties to this Amendment are parties to that certain Participation Agreement
dated as of June 27, 2003 (as amended, modified, extended, supplemented, restated and/or replaced
from time to time, the “Participation Agreement”), and certain other Operative Agreements;
and

     WHEREAS, the parties to this Amendment wish to amend certain agreements, instruments and other
documents to which they are a party (or to which certain of them are a party) in connection with a
lease financing provided in favor of Lessee by the other parties to this Amendment with regard to
the Properties.

     WHEREAS, the Lessee has requested certain modifications to Appendix A to the
Participation Agreement; and

     WHEREAS, the Financing Parties which are signatories hereto have agreed to the requested
modifications on the terms and conditions set forth herein;

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

AGREEMENT:

     1. Definitions. Capitalized terms used herein and not otherwise defined shall have
the meaning given to such terms in Appendix A to the Participation Agreement and the Rules of Usage
set forth therein shall apply herein. In the case of any conflict between the provisions of

 

 

this Amendment and the provisions of the Operative Agreements, the provisions of this
Amendment shall control construction of the terms.

     2. Amendment to Appendix A to the Participation Agreement. The amendment pursuant to
this Section 2 of this Amendment is deemed to be made and effective as of June 27, 2003 and
thereafter. Appendix A to the Participation Agreement is hereby amended by deleting and replacing
clause (b) in the definition of “Current Ratio” with the following:

     (b) current liabilities as defined in accordance with GAAP less up to $180,000,000 of
current liabilities arising from Lessee’s obligation to make cash payments to holders of
Lessee’s 1.25% convertible notes issued in 2003 upon conversion of such notes. (For the
avoidance of doubt, such $180,000,000 shall be reduced by the aggregate of all payments made
by or on behalf of Lessee to the holders of the 1.25% convertible notes as a result of the
conversion of such notes.)

     3. Effect of Agreement. Except as expressly set forth herein, this Amendment shall
not by implication or otherwise limit, impair, constitute a forbearance or waiver of, or otherwise
affect the rights and remedies of any Financing Party under any Operative Agreement, and shall not
alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or
agreements contained in the Operative Agreements, all of which are ratified and affirmed in all
respects and shall continue in full force and effect. Nothing herein shall be deemed to create a
course of dealing or otherwise entitle The Lessee to a consent, waiver, forbearance, amendment,
modification or other change of, any of the terms, conditions, obligations, covenants or agreements
contained in any Operative Agreement in similar or different circumstances in the future.

     4. Conditions Precedent and Subsequent. Notwithstanding anything contained herein to
the contrary, this Amendment, shall not become effective until (a) completion and delivery to the
Agent of executed counterpart signature pages to this Amendment from the Lessee, the Lessor and the
Majority Secured Parties and (b) all proceedings taken in connection with the transactions
contemplated by this Amendment and all documentation and other legal matters incident thereto shall
be satisfactory to the Agent and its legal counsel, Moore & Van Allen PLLC.

     5. Representations and Warranties. The Lessee hereby represents and warrants that (i)
the representations and warranties contained in Section 6.2 of the Participation Agreement are true
and accurate as of the date hereof as if made on the date hereof, except to the extent such
representations and warranties relate solely to an earlier date, in which case such representations
and warranties were true and accurate as of such earlier date, (ii) no event or condition exists or
would result from or continue after the consummation of the transactions contemplated hereby, which
constitutes a Default or an Event of Default, (iii) each Operative Agreement to which the Lessee is
a party remains in full force and effect with respect to it and shall remain in full force and
effect after the effectiveness of this Amendment, and (iv) it knows of no event that would or with
the passage of time or giving of notice or both could constitute a Casualty, Condemnation or
Environmental Violation.

2

 

     6. Release. In consideration of entering into this Amendment, the Lessee (a)
represents and warrants to each Financing Party that as of the date hereof there are no Claims or
offsets against or defenses or counterclaims to its obligations under the Operative Agreements and
furthermore, the Lessee waives any and all such Claims, offsets, defenses or counterclaims whether
known or unknown, arising prior to the date of this Amendment and (b) releases each Financing Party
and each of their respective Affiliates, Subsidiaries, officers, employees, representatives,
agents, counsel and directors and each Indemnified Person from any and all actions, causes of
action, Claims, demands, damages and liabilities of whatever kind or nature, in law or in equity,
now known or unknown, suspected or unsuspected to the extent that any of the foregoing arises from
any action or failure to act with respect to this Amendment or any other Operative Agreement, on or
prior to the date hereof.

     7. Continued Effectiveness of Operative Agreements. Except as modified hereby, all of
the terms and conditions of the Operative Agreements are hereby ratified and affirmed and shall
remain in full force and effect. By its execution and delivery of this Amendment, the Lessee
acknowledges and agrees to the terms and conditions of this Amendment and reaffirms its obligations
pursuant to the Operative Agreements.

     8. Direction to Lessor. The Agent, the Lenders and the Holders hereby instruct the
Lessor to enter into this Amendment and such other documents necessary to effectuate the intent of
this Amendment.

     9. Miscellaneous.

     (a) Severability. Any provision of this Amendment that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction.

     (b) Counterparts. This Amendment may be executed in any number of
counterparts, each of which when executed and delivered shall be deemed to be an original
and it shall not be necessary in making proof of this Amendment to produce or account for
more than one such counterpart. Delivery of an executed counterpart by telecopy shall be as
effective as delivery of a manually executed counterpart hereto and shall constitute a
representation that an original executed counterpart will be provided.

     (c) Headings. The headings of the various articles and sections of this
Amendment are for convenience of reference only and shall not modify, define, expand or
limit any of the terms or provisions hereof. Unless otherwise stated, references to
Sections made in this Amendment shall be interpreted as references to the applicable Section
herein.

     (d) Fees and Expenses. The Lessee agrees to pay or reimburse all reasonable
costs and expenses of the Agent in connection with the preparation, execution and

3

 

delivery of this Amendment and any documents related hereto, including, without limitation,
the reasonable fees and expenses of Moore & Van Allen PLLC.

     (e) GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK EXCEPT TO THE EXTENT THE LAWS OF A STATE
WHERE A PARTICULAR PROPERTY IS LOCATED ARE REQUIRED TO APPLY.

     (f) JURISDICTION, VENUE AND ARBITRATION. THE PROVISIONS OF THE PARTICIPATION
AGREEMENT RELATING TO ACTIONS AND PROCEEDINGS ARE HEREBY INCORPORATED BY REFERENCE HEREIN,
MUTATIS MUTANDIS.

     (g) Further Assurances. The provisions of the Participation Agreement relating
to further assurances are hereby incorporated by reference herein, mutatis mutandis.

     (g) Survival of Representations and Warranties. All representations and
warranties made in this Amendment or any other Operative Agreement shall survive the
execution and delivery of this Amendment and the other Operative Agreements, and no
investigation by any Financing Party or any closing shall affect the representations and
warranties or the right of the Financing Parties to rely upon them.

     (h) Amendment. This Amendment shall not be terminated, amended, supplemented,
waived, modified or discharged except by an instrument in writing executed by the party
against which enforcement is sought and in accordance with Section 12.4 of the Participation
Agreement.

     (i) No Strict Construction. The parties hereto have participated jointly in the
negotiation and drafting of this Amendment. In the event an ambiguity or question of intent
or interpretation arises, this Amendment shall be construed as if drafted jointly by the
parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any provisions of this Amendment.

[The remainder of this page has been left blank intentionally.]

4

 

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

	 	 	 	 	 
	LESSEE:	 	CYPRESS SEMICONDUCTOR CORPORATION
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	 	 	Name: Emmanuel Hernandez
	 	 	Title: Chief Financial Officer
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	 	 	Name: Neil H. Weiss
	 	 	Title: Vice President & Treasurer

(signature pages continue)

 

 

	 	 	 	 	 
	LESSOR:	 	WACHOVIA DEVELOPMENT CORPORATION
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	Name:	 	 
	

	 	 	 	 
	

	 	Title:	 	 
	

	 	 	 	 

(signature pages continue)

 

 

	 	 	 	 	 
	AGENT:	 	WACHOVIA BANK, NATIONAL

ASSOCIATION, as the Agent
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	Name:	 	 
	

	 	 	 	 
	

	 	Title:	 	 
	

	 	 	 	 

(signature pages continue)

 

 

	 	 	 	 	 
	CREDIT NOTE LENDER:	 	WACHOVIA BANK, NATIONAL ASSOCIATION,

as a Credit Note Lender
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	Name:	 	 
	

	 	 	 	 
	

	 	Title:	 	 
	

	 	 	 	 

(signature pages continue)

 

 

	 	 	 	 	 
	MORTGAGE NOTE LENDER:	 	WACHOVIA BANK, NATIONAL ASSOCIATION,

as a Mortgage Note Lender
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	Name:	 	 
	

	 	 	 	 
	

	 	Title:	 	 
	

	 	 	 	 

(signature pages end)

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