Document:

Exhibit

AMENDMENT NO. 1 TO CREDIT AGREEMENT

AMENDMENT No. 1, dated as of February 26, 2016 (this “Amendment”) to that certain Debtor-in-Possession Term Loan Credit Agreement dated as of February 11, 2016 (as at any time amended, restated, modified or supplemented, the “Credit Agreement”), among NORANDA ALUMINUM HOLDING CORPORATION, a Delaware corporation and a Debtor and Debtor-in-Possession under Chapter 11 of the U.S. Bankruptcy Code (“Holdings”), NORANDA ALUMINUM ACQUISITION CORPORATION, a Delaware corporation and a Debtor and Debtor-in-Possession under Chapter 11 of the U.S. Bankruptcy Code (the “U.S. Borrower”), NORANDA BAUXITE LIMITED, a Jamaica limited liability company (the “Jamaican Borrower”, and together with the U.S. Borrower, each a “Borrower”, and together the “Borrowers”), NORANDA INTERMEDIATE HOLDING CORPORATION, a Delaware corporation (“Intermediate Holdings”), NORANDA ALUMINUM, INC., a Delaware corporation (“Noranda Aluminum”), GRAMERCY ALUMINA HOLDINGS INC., a Delaware corporation (“Gramercy I”), NORANDAL USA, INC., a Delaware corporation (“Norandal”), GRAMERCY ALUMINA HOLDINGS II, INC., a Delaware corporation (“Gramercy II”), NORANDA ALUMINA LLC, a Delaware limited liability company (“Noranda Alumina”), NHB CAPITAL LLC, a Delaware limited liability company (“NHB”, and together with Intermediate Holdings, Noranda Aluminum, Gramercy I, Norandal, Gramercy II and Noranda Alumina, each a “Guarantor” and together the “Guarantors”, and together with the Borrowers and Holdings, each a “Loan Party” and together the “Loan Parties”), the lenders from time to time party thereto (each, a “Lender” and collectively, “Lenders”) and CORTLAND CAPITAL MARKET SERVICES LLC, as administrative and collateral agent (in such capacities, “Agent”) for the Lenders. Each capitalized term used and not otherwise defined herein shall have the meaning ascribed to such term in the Credit Agreement

WHEREAS, the parties hereto desire to amend the Credit Agreement as hereinafter set forth in Section 1. 

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

1.Amendment.    Effective as of the date hereof (the “Effective Date”), the Term Credit Agreement is hereby amended as follows:
1.1     Section 8.01(w) of the Credit Agreement is amended by deleting “30 days” and substituting in lieu thereof “35 days.”

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2.    Conditions Precedent.  The amendment provided for in Section 1.1 of this Amendment shall be effective only upon satisfaction of each of the following conditions precedent: 

(a)     Agent shall have received a duly executed counterpart of this Amendment from each Loan Party; 

(b)     Agent shall have received duly executed counterparts of this Amendment from Required Lenders; 

(c)     No Default or Event of Default shall exist either immediately before or immediately after giving effect to the terms of this Amendment; and

(d)     No event shall have occurred or circumstance exist that has or could reasonably be expected to have a Material Adverse Effect.

3.    Miscellaneous.

(a)    Each Loan Party hereby ratifies and reaffirms the DIP Term Credit Obligations, the Credit Agreement, each of the DIP ABL Loan Documents and all of such Loan Party’s covenants, duties, indebtedness and liabilities under the Credit Agreement and the DIP ABL Loan Documents.  
(b)    Each Loan Party represents and warrants to Agent and Lenders, to induce Agent and Lenders to enter into this Amendment, that no Default or Event of Default exists immediately prior to and immediately after giving effect to this Amendment; the execution, delivery and performance of this Amendment have been duly authorized by all requisite corporate action on the part of the Loan Parties, and this Amendment has been duly executed and delivered by each Loan Party; and all of the representations and warranties made by the Loan Parties in the Credit Agreement are true and correct in all material respects on and as of the effective date of this Amendment (except for representations and warranties that expressly relate to an earlier date).  Each Loan Party acknowledges and agrees that this Amendment constitutes a Loan Document under the Credit Agreement, and a breach of any representation, warranty or covenant herein shall constitute an Event of Default.
(c)    Each Loan Party agrees to pay in accordance with the Interim Order all costs and expenses incurred by Agent and Lenders in connection with the preparation, negotiation and execution of this Amendment and any and all amendments, modifications, and supplements thereto, including, without limitation, the costs and fees of Agent and Lender's legal counsel and any taxes or expenses associated with or incurred in connection with any instrument or agreement referred to herein or contemplated hereby.
(d)    This Amendment constitutes the legal, valid and binding obligation of each Loan Party, enforceable in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 
(e)    This Amendment shall be effective when accepted by Agent (notice of which acceptance is hereby waived), whereupon this Amendment shall be a contract governed by and construed in accordance with the internal laws of the State of New York and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

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(f)    This Amendment may be executed in any number of counterparts and by different parties to this Amendment on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute one and the same agreement.  Any signature delivered by a party by facsimile, email, or other electronic transmission shall be deemed to be an original signature hereto.  
(g)    On the Effective Date, the Credit Agreement will be automatically amended to reflect the amendment provided for in this Amendment.  Once the Effective Date has occurred, all references to the Credit Agreement in any document, instrument, agreement or writing shall be deemed to refer to the Credit Agreement as amended by this Amendment. 
(h)    THIS AMENDMENT SHALL BE COVERED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF THAT WOULD REQUIRE THE APPLICATION OF LAWS OF ANOTHER JURISDICTION. 
(i)    To the fullest extent permitted by applicable Laws, the parties hereto each hereby waives the right to trial by jury in any action, suit, counterclaim or proceeding arising out of or related to this Amendment.

[signature pages follow]

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

CORTLAND CAPITAL MARKET SERVICES LLC 
as Agent 
By:   /S/ Polina Arsentyeva      ________ 
Name:   Polina Arsentveya 
Title:   Associate Counsel

Signature Pages to DIP Term Credit Agreement Amendment  

The Following Entities, severally and not jointly, each as a Lender

CAREY CREDIT INCOME FUND
By: Guggenheim Partners Investment Management, LLC as Sub-Advisor

		
	By:
	/S/ Kevin M. Robinson        

		
	Name:
	 Kevin M. Robinson

Title: Attorney-in-Fact

CLC LEVERAGED LOAN TRUST
By: Challenger Life Nominees PTY Limited as Trustee
By: Guggenheim Partners Investment Management, LLC as Manager

By: /S/ Kevin M. Robinson___________________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

CITY NATIONAL ROCHDALE FUNDS - CITY NATIONAL ROCHDALE HIGH YIELD BOND FUND
By: Guggenheim Partners Investment Management, LLC, as Sub-Advisor

By: /S/ Kevin M. Robinson___________________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

Signature Pages to DIP Term Credit Agreement Amendment  

                
CHEVRON MASTER PENSION TRUST
By: Guggenheim Partners Investment 
Management, LLC as Manager

By: /S/ Kevin M. Robinson_____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

DAVINCI REINSURANCE LTD.
By: Guggenheim Partners Investment
Management, LLC, as Manager
    
By: /S/ Kevin M. Robinson_____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

                            
DELTA PILOTS DISABILITY AND 
SURVIVORSHIP TRUST
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson_____________
       Name: Kevin M. Robinson
                                    Title: Attorney-in-Fact

DELTA MASTER TRUST    
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

Signature Pages to DIP Term Credit Agreement Amendment  

GENERAL DYNAMICSCORPORATION
GROUP TRUST
By: Guggenheim Partners Investment
Management, LLC as Manager

By: /S/ Kevin M. Robinson_______________    
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

GUGGENHEIM CREDIT
                             ALLOCATION FUND    
By: Guggenheim Partners Investment
Management, LLC, as Sub-Advisor

By: /S/ Kevin M. Robinson_______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

GUGGENHEIM HIGH-YIELD FUND,
LLC
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson_______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

GUGGENHEIM VARIABLE FUNDS
TRUST ON BEHALF OF THE     
FOLLOWING SERIES:

Series F (Floating Rate Strategies Series)
By: Guggenheim Partners Investment
Management, LLC as Investment Advisor

By: /S/ Kevin M. Robinson_______________    
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact
    

Signature Pages to DIP Term Credit Agreement Amendment  

GUGGENHEIM FUNDS TRUST ON     
BEHALF OF THE FOLLOWING SERIES:

Guggenheim Macro Opportunities Fund
By: Guggenheim Partners Investment
Management, LLC, as Investment Advisor

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

GUGGENHEIM LOAN MASTER
FUND, LTD.
By: Guggenheim Partners Investment 
Management, LLC as Manager

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

GUGGENHEIM STRATEGIC
OPPORTUNITIES FUND
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

HCA INC. MASTER RETIREMENT
TRUST
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

Signature Pages to DIP Term Credit Agreement Amendment  

INDIANA UNIVERSITY HEALTH, INC.
By: Guggenheim Partners Investment
Management , LLC as Manager

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

KITTY HAWK CLO 2015-1 LLC
By: Guggenheim Partners Investment
Management, LLC, as Collateral Manager

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

NOMURA MULTI MANAGERS FUND – 
GLOBAL BOND
By: Global Funds Trust Company, as
Trustee
By: Guggenheim Partners Investment
Management, LLC, as Investment Sub-Advisor

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

CITY OF NEW YORK GROUP TRUST
The Comptroller of the City of New York
By: Guggenheim Partners Investment
Management, LLC, as Manager

By: /S/ Kevin M. Robinson______________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

Signature Pages to DIP Term Credit Agreement Amendment  

NZCG FUNDING 2 LIMITED
By: Guggenheim Partners Investment
Management, LLC, as Collateral Manager

By: /S/ Kevin M. Robinson____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

RENAISSANCE REINSURANCE LTD.
By: Guggenheim Partners Investment
Management, LLC, as Manager

By: /S/ Kevin M. Robinson____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

SHELL PENSION TRUST
By: Guggenheim Partners Investment
Management, LLC as Manager

By: /S/ Kevin M. Robinson____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

SONOMA COUNTY EMPLOYEES’
RETIREMENT ASSOCIATION
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

Signature Pages to DIP Term Credit Agreement Amendment  

EAF COMPLAN II – PRIVATE DEBT
By: Guggenheim Partners Investment
Management, LLC as Asset Manager

By: /S/ Kevin M. Robinson____________
      Name: Kevin M. Robinson
      Title: Attorney-in-Fact

CENTRAL STATES, SOUTHEAST AND 
SOUTHWEST AREAS HEALTH AND 
WELFARE FUND
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson____________
      Name: Kevin M. Robinson
      Title: Attorney-in-Fact

BANDERA STRATEGIC CREDIT
PARTNERS II, L.P
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

        
VERMONT PENSION INVESTMENT
COMMITTEE
By: Guggenheim Partners Investment
Management, LLC as Contractor

By: /S/ Kevin M. Robinson____________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

Signature Pages to DIP Term Credit Agreement Amendment  

ZIGGURAT CLO LTD.
By: Guggenheim Partners Investment
Management, LLC as Asset Manager

By: /S/ Kevin M. Robinson___________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

ZILUX SENIOR LOAN FUND
By: Guggenheim Partners Investment
Management, LLC as Investment Manager

By: /S/ Kevin M. Robinson___________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

GUGGENHEIM U.S. LOAN FUND
By: Guggenheim Partners Investment
Management, LLC as Investment Manager
                            
By: /S/ Kevin M. Robinson___________
       Name: Kevin M. Robinson
       Title: Attorney-in-Fact

                

Signature Pages to DIP Term Credit Agreement Amendment  

CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM
By: Credit Suisse Asset Management, LLC, as investment manager,
     as a Lender

AUSTRALIANSUPER
By: Credit Suisse Asset Management, LLC as sub-advisor to Bentham
Asset Management Pty Ltd.
in its capacity as agent of and investment manager for AustrailianSuper 
Pty Ltd.
in its capacity as trustee of AustralianSuper,
                      as a Lender

BENTHAM WHOLESALE SYNDICATED LOAN FUND
By: Credit Suisse Asset Management,LLC, as agent (sub-advisor) for
Challenger Investment Services Limited, the Responsible Entity for
Bentham Wholesale Syndicated Loan Fund,
     as a Lender

THE CITY OF NEW YORK GROUP TRUST
By: Credit Suisse Asset Management, LLC, as its manager,
     as a Lender

CREDIT SUISSE DOLLAR SENIOR LOAN FUND, LTD.
By: Credit Suisse Asset Management, LLC, as investment manager,
     as a Lender

THE EATON CORPORATION MASTER RETIREMENT TRUST
By: Credit Suisse Asset Management, LLC, as investment manager,
     as a Lender

CREDIT SUISSE NOVA (LUX)
By: Credit Suisse Asset Management, LLC or Credit Suisse Asset
Management Limited, each as Co-Investment Advisor to Credit Suisse Fund Management S.A., management company for Credit Suisse Nova (Lux),
as a Lender

By: /S/ Ilan Friedman________________
       Name: Ilan Friedman
       Title: Authorized Signatory

Signature Pages to DIP Term Credit Agreement Amendment  

HOTCHKIS AND WILEY VALUE OPPORTUNITIES FUND,
as a Lender
                            
                            
By: /S/ Anna Marie Lopez___________
       Name: Anna Marie Lopez
       Title: Chief Operating Officer of Hotchkis and Wiley Capital Management, LLC, as investment advisor for the Hotchkis and Wiley Value Opportunities Fund

Signature Pages to DIP Term Credit Agreement Amendment  

ACKNOWLEDGED AND AGREED TO:

	
		
	 
	NORANDA ALUMINUM HOLDING CORPORATION

By:   /S/ Dale W. Boyles       
Name:   Dale W. Boyles 
Title: Chief Financial Officer

	 
	NORANDA ALUMINUM ACQUISITION CORPORATION

By:   /S/ Dale W. Boyles       
Name:   Dale W. Boyles 
Title: Chief Financial Officer

	 
	

NORANDAL USA, INC.

By:   /S/ Dale W. Boyles       
Name:   Dale W. Boyles  
Title: Chief Financial Officer and Secretary   

	 
	

NORANDA ALUMINUM, INC.

By:   /S/ Dale W. Boyles       
Name: Dale W. Boyles     
Title: Chief Financial Officer and Vice President-Finance   

Signature Pages to DIP Term Credit Agreement Amendment  

	
		
	 
	

NORANDA ALUMINA LLC

By:   /S/ Dale W. Boyles       
Name:   Dale W. Boyles 
Title: Chief Financial Officer   

	 
	

NORANDA INTERMEDIATE HOLDING CORPORATION

By:   /S/ Dale W. Boyles       
Name: Dale W. Boyles     
Title: Chief Financial Officer and Vice President-Finance   

	 
	

GRAMERCY ALUMINA HOLDINGS II, INC.

By:   /S/ Dale W. Boyles       
Name:   Dale W. Boyles  
Title: Chief Financial Officer   

	 
	

GRAMERCY ALUMINA HOLDINGS INC.

By:   /S/ Dale W. Boyles       
Name:   Dale W. Boyles  
Title: Chief Financial Officer, Vice President and Secretary   

Signature Pages to DIP Term Credit Agreement Amendment  

	
		
	 
	

NHB CAPITAL, LLC

By:   /S/ Dale W. Boyles       
Name: Dale W. Boyles     
Title: Chief Financial Officer   

	 
	

NORANDA BAUXITE LIMITED

By:   /S/ Dale W. Boyles       
Name:   Dale W. Boyles 
Title: Chief Financial Officer

Signature Pages to DIP Term Credit Agreement Amendmentmbcc-ex1019_300.htm

 

Exhibit 10.19

 

AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

 

This Amendment to Executive Employment Agreement (this “Amendment”) is made as of December 31, 2014 by and between Nancie J. Smith, an individual resident of the State of Ohio (“Executive”), and Mission Broadcasting, Inc., a Delaware corporation (the “Company”).

WHEREAS, Executive and the Company are parties to that certain Executive Employment Agreement (the “Agreement”) dated as of December 19, 2011 pursuant to which the Company employs the Executive as Chairman of the Board and Secretary of the Company; and

WHEREAS, the parties desire to change the Executive’s compensation as more fully set forth herein.

NOW THEREFORE, for and in consideration of the foregoing, the parties hereto, intending to be legally bound, hereby agree as follows:

	
1.
	
Paragraph 4 of the Agreement is deleted in its entirety and replaced with the following:

4.Compensation.

	
 
	
(a)
	
Base Salary. During calendar year 2015, Executive will be entitled to receive a base salary (“Base Salary”) of $150,000. Executive will receive a two percent (2%) annual salary increase in each subsequent year that the Agreement remains in effect (i.e., Executive’s salary in calendar year 2016 will be $153,000, calendar year 2017 will be $156,060).

 

	
 
	
(b)
	
Payment.  Executive’s Base Salary will be paid ratably during each 12-month period during the term of the Agreement. All payments under the Agreement will be subject to withholding or deduction by reason of the Federal Insurance Contribution Act, Federal income tax, state income tax and all other applicable laws and regulations.

 

	
 
	
(c)
	
Fringe Benefits. During the term or this Agreement, Executive is entitled to participate in all other employee benefit plans and programs generally offered to Company employees, under the terms and conditions of each such plan or program and subject to the eligibility and cost sharing provisions thereof.

 

	
2.
	
Headings. The headings in the Paragraphs of this Amendment are inserted for convenience only and will not constitute a part of this Agreement.

 

	
3.
	
Severability. The parties agree that if any provision of this Amendment is under any circumstances deemed invalid or inoperative, the Amendment will be construed with the invalid or inoperative provision deleted, and the rights and obligations of the parties will be construed and enforced accordingly.

 

1

 

 

	
4.
	
Governing Law. This Amendment is governed by and construed in accordance with the internal law of the State of Delaware without giving effect to any choice of law or conflict provision or rule that would cause the laws of any jurisdiction other than the State of Delaware to be applied. 

 

	
5.
	
Amendment; Modification. This Amendment may not be amended, modified or supplemented other than in a writing signed by the parties hereto.

 

	
6.
	
Entire Agreement. The Agreement as amended by this Amendment is hereby ratified in full and embodies the entire agreement between the parties hereto with respect to Executive’s employment with the Company, and there have been and are no other agreements, representations or warranties between the parties regarding such matters.

 

	
7.
	
Counterparts. This Amendment may be executed in two or more counterparts, each of which will be deemed an original, but all of which together will constitute but one and the same instrument.

All other terms and conditions of the Agreement remain unchanged.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year written below.

 

			
	
NANCIE J. SMITH
	
 
	
MISSION BROADCASTING, INC.

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Nancie J. Smith
	
 
	
By: /s/ Dennis Thatcher

	
 
	
 
	
Dennis Thatcher

	
 
	
 
	
President

 

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