Document:

EX-10.42

 Exhibit 10.42 

Execution Version 

JOINDER AGREEMENT 
 This
Joinder Agreement is dated as of January 22, 2015 (this “Agreement”), by and among each of the financial institutions set forth on Schedule A annexed hereto (each a “New Term Loan Lender” and collectively the
“New Term Loan Lenders”), Valeant Pharmaceuticals International, Inc., a corporation continued under the laws of the Province of British Columbia (“Borrower”), the undersigned subsidiaries of Borrower and Barclays
Bank PLC (“Barclays”), as Administrative Agent and Collateral Agent. 
 RECITALS: 

WHEREAS, reference is hereby made to the Third Amended and Restated Credit and Guaranty Agreement, dated as of February 13, 2012,
as amended by Amendment No. 1, dated as of March 6, 2012, by Amendment No. 2, dated as of September 10, 2012, by Amendment No. 3, dated as of January 24, 2013, by Amendment No. 4, dated as of February 21,
2013, by Amendment No. 5, dated as of June 6, 2013, by Amendment No. 6, dated as of June 26, 2013, by Amendment No. 7, dated as of September 17, 2013, by Amendment No. 8, dated as of December 20, 2013, by the
Successor Agent Agreement and Amendment No. 9, dated as of January 8, 2015, as further supplemented by the Joinder Agreement, dated as of June 14, 2012, by the Joinder Agreement, dated as of July 9, 2012, by the Joinder
Agreement, dated as of September 11, 2012, by the Joinder Agreement dated as of October 2, 2012, by the Joinder Agreement, dated as of December 11, 2012, by the Joinder Agreements, each dated as of August 5, 2013, and by the
Joinder Agreements, each dated as of February 6, 2014 (as it may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined
herein being used herein as therein defined), among Borrower, certain Subsidiaries of Borrower, as Guarantors, the Lenders party thereto from time to time, Goldman Sachs Lending Partners LLC (“GSLP”), J.P. Morgan Securities LLC and
Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as Joint Lead Arrangers and Joint Bookrunners, JPMorgan Chase Bank, N.A. (“JPMorgan”) and Morgan Stanley, as Co-Syndication Agents, JPMorgan, as Issuing Bank,
Barclays (as successor to GSLP), as Administrative Agent and Collateral Agent, and the other Agents party thereto; 
 WHEREAS,
subject to the terms and conditions of the Credit Agreement, Borrower may obtain New Revolving Loan Commitments and/or New Term Loan Commitments by entering into one or more Joinder Agreements with the New Term Loan Lenders;  

WHEREAS, pursuant to Section 2.25 of the Credit Agreement, the Credit Agreement may, without the consent of any other Lenders, be
amended as may be necessary or appropriate, in the opinion of the Administrative Agent, to give effect to the provisions of Section 2.25 of the Credit Agreement; and 

WHEREAS, the Borrower may, in its sole discretion, use the proceeds of the Additional Series A-3 Tranche A Term Loans (as defined
below) for general corporate purposes, including repayment of outstanding Indebtedness of the Borrower. 
 NOW, THEREFORE, in
consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows: 
 Each
New Term Loan Lender (i) confirms that it has received a copy of the Credit Agreement and the other Credit Documents, together with copies of the financial statements referred to 

 
therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will,
independently and without reliance upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking
action under the Credit Agreement; (iii) appoints and authorizes Administrative Agent and each other Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are
delegated to Administrative Agent or such other Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the
obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender. 
 Each New Term Loan Lender
hereby commits to provide its respective New Term Loan Commitment (each an “Additional Series A-3 Tranche A Term Loan Commitment”) as set forth on Schedule A annexed hereto, on the terms and subject to the conditions set
forth below: 
  

	1.	Additional Series A-3 Tranche A Term Loan Commitments. The terms and provisions of the New Term Loans made pursuant to this Agreement (the “Additional Series A-3 Tranche A Term Loans” and each an
“Additional Series A-3 Tranche A Term Loan”) shall be identical to, and constitute, Series A-3 Tranche A Term Loans for all purposes under the Credit Agreement. The Additional Series A-3 Tranche A Term Loan Commitments and
Additional Series A-3 Tranche A Term Loans made pursuant thereto shall be subject to the provisions of the Credit Agreement and the other Credit Documents, and shall constitute “Tranche A Term Loan Exposure” and “Tranche A
Term Loans”, respectively, thereunder. 

  

	2.	Principal Payments. Borrower shall make principal payments on the Additional Series A-3 Tranche A Term Loans beginning March 31, 2016 in installments on the dates and in the amounts equal to the
percentage which are identical to those with respect to Series A-3 Tranche A Term Loans which, for the avoidance of doubt, are set forth below including with respect to the Additional Series A-3 Tranche A Term Loans: 

 

					
	 Amortization Date
	  	Additional Series A-3 Tranche A Term
Loan Installments	 
	 March 31, 2015
	  	 	—  	  
	 June 30, 2015
	  	 	—  	  
	 September 30, 2015
	  	 	—  	  
	 December 31, 2015
	  	 	—  	  
	 March 31, 2016
	  	 	5.42%	  
	 June 30, 2016
	  	 	5.42%	  
	 September 30, 2016
	  	 	5.42%	  
	 December 31, 2016
	  	 	5.42%	  
	 March 31, 2017
	  	 	5.42%	  
	 June 30, 2017
	  	 	5.42%	  
	 September 30, 2017
	  	 	5.42%	  
	 December 31, 2017
	  	 	5.42%	  
	 March 31, 2018
	  	 	5.42%	  
	 June 30, 2018
	  	 	5.42%	  
	 September 30, 2018
	  	 	5.42%	  
	 Series A-3 Tranche A Term Loan Maturity Date
	  	 	Remaining Balance	  

  
 -2- 

	3.	Closing Fee. Borrower agrees to pay on the Additional Series A-3 Tranche A Term Loan Funding Date (as defined below) to Administrative Agent, for the account of each New Term Loan Lender party to this
Agreement, as fee compensation for the commitment of such New Term Loan Lender’s Additional Series A-3 Tranche A Loan Commitments, a closing fee in an amount equal to 0.15 % of the aggregate principal amount of such New Term Loan
Lender’s allocated Additional Series A-3 Tranche A Term Loan Commitments which are actually funded on the Additional Series A-3 Tranche A Term Loan Funding Date. 

 

	4.	Proposed Borrowing. In accordance with Section 2.25 of the Credit Agreement, Borrower has previously delivered to Administrative Agent an executed Funding Notice for Additional Series A-3 Tranche A
Term Loans, requesting a proposed borrowing in the principal amount of up to $250,000,000 (the “Proposed Borrowing”) on the date hereof (the “Additional Series A-3 Tranche A Term Loan Funding Date”). Each New Term
Loan Lender shall make its Additional Series A-3 Tranche A Term Loan available to Administrative Agent not later than 11:00 a.m. (New York City time) on the date hereof, by wire transfer of same day funds in Dollars at the Principal Office
designated by Administrative Agent. Promptly upon receipt thereof, Administrative Agent shall make the proceeds of the Additional Series A-3 Tranche A Term Loans available to Borrower on the date hereof by causing an amount of same day funds in
Dollars equal to the proceeds of all such loans received by Administrative Agent from New Term Loan Lenders to be credited to the account of Borrower, at the Principal Office designated by Administrative Agent or to such other account as may be
designated in writing to Administrative Agent by Borrower. 

  

	5.	New Lenders. Each New Term Loan Lender (other than any New Term Loan Lender that, immediately prior to the execution of this Agreement, is a “Lender” under the Credit Agreement) acknowledges and
agrees that upon its execution of this Agreement its Additional Series A-3 Tranche A Term Loan Commitments shall be effective and that such New Term Loan Lender shall become a “Lender” under, and for all purposes of, the Credit Agreement
and the other Credit Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder. 

 

	6.	Credit Agreement Governs. Additional Series A-3 Tranche A Term Loans shall be subject to the provisions of the Credit Agreement and the other Credit Documents, except as set forth in this Agreement, and
shall constitute Tranche A Term Loans thereunder. 

  

	7.	Borrower’s Certifications. By its execution of this Agreement, the undersigned officer, to the best of his or her knowledge, and Borrower hereby certify that: 

 

	 	i.	The representations and warranties contained in the Credit Agreement and the other Credit Documents are true and correct in all material respects on and as of the date hereof to the same extent as though made on and as
of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true and correct in all material respects on and as of such earlier date;

  

	 	ii.	No event has occurred and is continuing or would result from the consummation of the Proposed Borrowing contemplated hereby that would constitute a Default or an Event of Default; and 

 

	 	iii.	Borrower has performed in all material respects all agreements and satisfied all conditions which the Credit Agreement provides shall be performed or satisfied by it on or before the date hereof in connection with the
Proposed Borrowing. 

  
 -3- 

	8.	Borrower Covenants. By its execution of this Agreement, Borrower hereby covenants that: 

  

	 	i.	Borrower shall deliver or cause to be delivered, on or before the Additional Series A-3 Tranche A Term Loan Funding Date, the following legal opinions and documents: originally executed copies of the favorable written
opinions of (a) Skadden, Arps, Slate, Meagher & Flom LLP, U.S. counsel and special France counsel to the Credit Parties, (b) Chancery Chambers, special Barbados counsel to the Credit Parties, (c) Norton Rose Fulbright Canada
LLP, special Canada counsel to the Credit Parties, (d) Baker & McKenzie, special Luxembourg counsel to the Credit Parties, (e) Conyers Dill & Pearman Limited, special Bermuda counsel to the Credit Parties, (f) Arthur
Cox, special Ireland counsel to the Credit Parties, (g) Venable LLP, special Maryland counsel to the Credit Parties, (h) Souza, Cescon, Barrieu & Flesch Advogados, special Brazil counsel to the Credit Parties, (i) Squire
Sanders Święcicki Krześniak sp.k., special Poland counsel to the Credit Parties, (j) Tark Grunte Sutkiene, special Lithuania counsel to the Credit Parties, (k) White & Case LLP, special France counsel to the
Administrative Agent, (l) Allen & Overy LLP, special Netherlands counsel to the Administrative Agent, (m) Rajah & Tann LLP, special Singapore counsel to the Credit Parties, (n) Stamford Law Corporation, special
Singapore counsel to the Administrative Agent and (o) Fluxmans Inc., special South Africa counsel to the Credit Parties, together with all other legal opinions and other documents reasonably requested by Administrative Agent in connection with
this Agreement. 

  

	9.	Eligible Assignee. By its execution of this Agreement, each New Term Loan Lender (other than any New Term Loan Lender that, immediately prior to the execution of this Agreement, is a “Lender”
under the Credit Agreement) represents and warrants that it is an Eligible Assignee. 

  

	10.	Notice. For purposes of the Credit Agreement, the initial notice address of each New Term Loan Lender shall be as set forth below its signature below. 

 

	11.	Non-U.S. Lenders. For each New Term Loan Lender that is a Non-U.S. Lender, delivered herewith to Administrative Agent are
such forms, certificates or other evidence with respect to United States federal income tax withholding matters as such New Term Loan Lender may be required to deliver to Administrative Agent pursuant to subsection 2.20(d) of the Credit Agreement.

  

	12.	Recordation of the New Loans. Upon execution and delivery hereof, Administrative Agent will record in the Register the Additional Series A-3 Tranche A Term Loans made by New Term Loan Lenders pursuant
hereto as being of the same Class as the Series A-3 Tranche A Term Loans. 

  

	13.	Reaffirmation. 

  

	 	i.	Each Credit Party hereby expressly acknowledges the terms of this Agreement and reaffirms, as of the date hereof, the covenants and agreements contained in each Credit Document to which it is a party, including, in each
case, such covenants and agreements as in effect immediately after giving effect to this Agreement and the transactions contemplated hereby. 

  

	 	ii.	 Each Credit Party, by its signature below, hereby affirms and confirms (a) its obligations under each of the Credit Documents to which it is a
party, and (b) the pledge of and/or grant of a security interest or hypothec in its assets as Collateral to secure such Obligations, all as provided in the Collateral Documents as originally

  
 -4- 

	 	
executed, and acknowledges and agrees that such guarantee, pledge and/or grant continue in full force and effect in respect of, and to secure, such Obligations under the Credit Agreement and the
other Credit Documents. 

  

	 	ii.	Each Credit Party acknowledges and agrees that each of the Credit Documents in existence as of the date hereof shall be henceforth read and construed in accordance with and so as to give full force and effect to the
ratifications, confirmations, acknowledgements and agreements made herein. 

  

	14.	Amendment, Modification and Waiver. This Agreement may not be amended, modified or waived except by an instrument or instruments in writing signed and delivered on behalf of each of the parties hereto.

  

	15.	Entire Agreement. This Agreement, the Credit Agreement and the other Credit Documents constitute the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede
all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the subject matter hereof. It is understood and agreed that each reference in each Credit Document to the Credit Agreement,
whether direct or indirect, shall hereafter be deemed to be a reference to the Credit Agreement as amended and supplemented hereby and that this Agreement is a Credit Document. 

 

	16.	GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

  

	17.	Severability. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or
unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. If any
provision of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable. 

  

	18.	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement. 

[Remainder of page intentionally left blank] 

  
 -5- 

 IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to
execute and deliver this Agreement as of the date first written above. 
  

			
	BARCLAYS BANK PLC, as a “New Term Loan Lender”
		
	By:		     /s/ Christine Aharonian

	Name: Christine Aharonian
	Title: Vice President
	
	Notice Address:
	
	745 Seventh Avenue, New York, NY 10019
	
	Attention: Christine Aharonian
	Telephone: 212 320 9943
	Facsimile: 212 52605515

  
 [Signature Page to
Joinder Agreement] 

 
			
	JPMORGAN CHASE BANK, N.A., TORONTO BRANCH, as a “New Term Loan Lender”
		
	By:		     /s/ Michael N. Tam

	Name: Michael N. Tam
	Title: Senior Vice President
	
	Notice Address:
	
	Attention:
	Telephone:
	Facsimile:

  
 [Signature Page to
Joinder Agreement] 

 
			
	MORGAN STANLEY BANK, N.A., as a “New Term Loan Lender”
		
	By:		     /s/ Michael King

	Name: Michael King
	Title: Authorized Signatory
	
	Notice Address:
	
	Morgan Stanley Loan Servicing
	1300 Thames Street Wharf, 4th floor
	Baltimore, MD 21231
	Telephone: 443 627 4335
	 Facsimile: 718 233 2140

msloanservicing@morganstanley.com

  
 [Signature Page to
Joinder Agreement] 

 
			
	SUNTRUST BANK, as a “New Term Loan Lender”
		
	By:		     /s/ Katherine Bass

	Name: Katherine Bass
	Title: Director
	
	Notice Address:
	
	Attention:
	Telephone:
	Facsimile:

  
 [Signature Page to
Joinder Agreement] 

 
			
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as a “New Term Loan Lender”
		
	By:		     /s/ Scott O’Connell

	Name: Scott O’Connell
	Title: Director
	
	Notice Address:
	
	1251 Avenue of the Americas,
	
	New York, NY 10020
	
	Attention: Allen Fisher
	Telephone: 212 782 6824
	Facsimile: 212 782 6445

  
 [Signature Page to
Joinder Agreement] 

 
			
	CITIBANK, N.A., as a “New Term Loan Lender”
		
	By:		     /s/ Laura Fogarty

	Name: Laura Fogarty
	Title: Vice President
	
	Notice Address:
	
	388 Greenwich Street, Floor 32
	New York, NY 10013
	
	Attention: Laura Fogarty
	Telephone: 212 816 2197
	Facsimile: 646 862 8137

  
 [Signature Page to
Joinder Agreement] 

 
			
	DEUTSCHE BANK AG NEW YORK BRANCH, as a “New Term Loan Lender”
		
	By:		     /s/ Michael Winters

	Name: Michael Winters
	Title: Vice President
		
	By:		     /s/ Peter Cucchiara

	Name: Peter Cucchiara
	Title: Vice President
	
	Notice Address:
	
	Loan Admin
	5022, Gate Parkway, Suite 200
	Jacksonville, FL 32256
	
	Attention: Karthik Krishnan
	Telephone: 904 520 5449
	Facsimile: 866 240 3622

  
 [Signature Page to
Joinder Agreement] 

 
			
	VALEANT PHARMACEUTICALS INTERNATIONAL, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	VALEANT PHARMACEUTICALS INTERNATIONAL
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB INCORPORATED
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB HOLDINGS INCORPORATED
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Vice President and Treasurer
	
	SOLTA MEDICAL, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Vice President and Treasurer

  
 [Signature Page to
Joinder Agreement] 

 
			
	ATON PHARMA, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	CORIA LABORATORIES, LTD.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	DOW PHARMACEUTICAL SCIENCES, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer

  
 [Signature Page to
Joinder Agreement] 

 
			
	OBAGI MEDICAL PRODUCTS, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Treasurer
	
	OMP, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Treasurer
	
	ONPHARMA INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Treasurer

  
 [Signature Page to
Joinder Agreement] 

							
	Signed by						
	Valeant Holdco 2 Pty Ltd (ACN 154 341 367)						
				
	in accordance with section 127 of the Corporations Act 2001 by two directors:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director (please print)		
				
	Signed by						
	Wirra Holdings Pty Limited (ACN 122 216 577)						
				
	in accordance with section 127 of the Corporations Act 2001 by two directors:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director (please print)		
				
	Signed by						
	Wirra Operations Pty Limited (ACN 122 250 088)						
				
	in accordance with section 127 of the Corporations Act 2001 by two directors:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director (please print)		

  
 [Signature Page to
Joinder Agreement] 

							
	Signed by						
	 iNova Pharmaceuticals (Australia) Pty Limited

(ACN 000 222 408)
						
				
	in accordance with section 127 of the Corporations Act 2001 by two directors:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director (please print)		
				
	Signed by						
	Wirra IP Pty Limited (ACN 122 536 350)						
				
	in accordance with section 127 of the Corporations Act 2001 by two directors:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director (please print)		
				
	Signed by						
	iNova Sub Pty Limited (ACN 134 398 815)						
				
	in accordance with section 127 of the Corporations Act 2001 by two directors:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director (please print)		

  
 [Signature Page to
Joinder Agreement] 

							
	Signed by						
	 Valeant Pharmaceuticals Australasia Pty Limited

(ACN 001 083 352)
						
				
	in accordance with section 127 of the Corporations Act 2001 by a director and secretary/director:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Linda A. LaGorga
		
	Signature of director				Signature of director/secretary		
				
	 Robert R. Chai-Onn
				 Linda A. LaGorga
		
	Name of director (please print)				Name of director/secretary (please print)		
				
	Signed by						
	DermaTech Pty Limited (ACN 003 982 161)						
				
	in accordance with section 127 of the Corporations Act 2001 by a director and secretary/director:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director/secretary		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director/secretary (please print)		

  
 [Signature Page to
Joinder Agreement] 

							
	Signed by						
	 Private Formula International Holdings Pty Ltd

(ACN 095 450 918)
						
				
	in accordance with section 127 of the Corporations Act 2001 by a director and secretary/director:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director/secretary		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director/secretary (please print)		
				
	Signed by						
	 Private Formula International Pty Ltd

(ACN 095 451 442)
						
				
	in accordance with section 127 of the Corporations Act 2001 by a director and secretary/director:						
				
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller
		
	Signature of director				Signature of director/secretary		
				
	 Robert R. Chai-Onn
				 Howard B. Schiller
		
	Name of director (please print)				Name of director/secretary (please print)		

  
 [Signature Page to
Joinder Agreement] 

					
	Signed by				
	Ganehill Pty Ltd (ACN 065 261 538)				
			
	in accordance with section 127 of the Corporations Act 2001 by a director and secretary/director:				
			
	 /s/ Robert R. Chai-Onn
				 /s/ Howard B. Schiller

	Signature of director				Signature of director/secretary
			
	 Robert R. Chai-Onn
				 Howard B. Schiller

	Name of director (please print)				Name of director/secretary (please print)

  
 [Signature Page to
Joinder Agreement] 

					
	Signed by				
	Bausch & Lomb (Australia) Pty Ltd (ACN: 000 650 251)				
			
	in accordance with section 127 of the Corporations Act 2001 by a director and secretary/director:				
			
	 /s/ Linda LaGorga
				 /s/ Ling Zeng

	Signature of director				Signature of director/secretary
			
	 Linda LaGorga
				 Ling Zeng

	Name of director (please print)				Name of director/secretary (please print)

  
 [Signature Page to
Joinder Agreement] 

 
			
	HYTHE PROPERTY INCORPORATED
		
	By:		              /s/ Mauricio
Zavala

			Name:  Mauricio Zavala
			Title:    Manager and Assistant Secretary

  
 [Signature Page to
Joinder Agreement] 

 
			
	 VALEANT INTERNATIONAL BERMUDA

		
	By:		              /s/ Graham
Jackson

			Name:  Graham Jackson
			Title:    Director
	
	VALEANT PHARMACEUTICALS NOMINEE BERMUDA
		
	By:		              /s/ Peter
McCurdy

			Name:  Peter McCurdy
			Title:    President and Assistant Secretary

  
 [Signature Page to
Joinder Agreement] 

 
			
	PROBIÓTICA LABORATÓRIOS LTDA.
		
	By:		              /s/ Marcelo Noll
Barboza

			Name:  Marcelo Noll Barboza
			Title:    Officer
		
	By:		              /s/ Guilherme
Maradei

			Name:  Guilherme Maradei
			Title:    Officer

  
 [Signature Page to
Joinder Agreement] 

 
			
	IOLAB CORPORATION
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Treasurer
	
	TECHNOLAS PERFECT VISION, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB PHARMA HOLDINGS CORP.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB CHINA, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB SOUTH ASIA, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB TECHNOLOGY CORPORATION
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:     Treasurer

  
 [Signature Page to
Joinder Agreement] 

			
	RHC HOLDINGS, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	SIGHT SAVERS, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB INTERNATIONAL, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	BAUSCH & LOMB REALTY CORPORATION.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Vice President and Treasurer
	
	ISTA PHARMACEUTICALS, LLC
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	VRX HOLDCO, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Chief Financial Officer and Treasurer

  
 [Signature Page to
Joinder Agreement] 

 
			
	VALEANT CANADA GP LIMITED
		
	By:		              /s/ Howard B.
Schiller

			Name:  Howard B. Schiller
			Title:    Executive Vice President and Chief
			             Financial Officer
	
	VALEANT CANADA S.E.C./VALEANT CANADA LP
		
	By:		              /s/ Howard B.
Schiller

			Name:  Howard B. Schiller
			Title:    Executive Vice President and Chief
			             Financial Officer
	
	V-BAC HOLDING CORP.
		
	By:		              /s/ Robert R.
Chai-Onn

			Name:  Robert R. Chai-Onn
			Title:    Vice President

  
 [Signature Page to
Joinder Agreement] 

 
			
	MEDICIS PHARMACEUTICAL CORPORATION
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	OCEANSIDE PHARMACEUTICALS, INC.
		
	By:		              /s/ Howard B.
Schiller

			Name:  Howard B. Schiller
			Title:    Chief Financial Officer and Treasurer
	
	DR. LEWINN’S PRIVATE FORMULA INTERNATIONAL, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	PRINCETON PHARMA HOLDINGS, LLC
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	PRIVATE FORMULA CORP.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer
	
	RENAUD SKIN CARE LABORATORIES, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer

  
 [Signature Page to
Joinder Agreement] 

 
			
	VALEANT BIOMEDICALS, INC.
		
	By:		         /s/ Howard B. Schiller

	Name:		Howard B. Schiller
	Title:		Chief Financial Officer and Treasurer
	
	VALEANT PHARMACEUTICALS NORTH AMERICA LLC
		
	By:		         /s/ Linda A. LaGorga

	Name:		Linda A. LaGorga
	Title:		Senior Vice President and Treasurer
	
	BIOVAIL AMERICAS CORP.
		
	By:		         /s/ Howard B. Schiller

	Name:		Howard B. Schiller
	Title:		Chief Financial Officer and Treasurer
	
	ORAPHARMA, INC.
		
	By:		         /s/ Linda A. LaGorga

	Name:		Linda A. LaGorga
	Title:		Senior Vice President and Treasurer
	
	ORAPHARMA TOPCO HOLDINGS, INC.
		
	By:		         /s/ Linda A. LaGorga

	Name:		Linda A. LaGorga
	Title:		Senior Vice President and Treasurer
	
	PRESTWICK PHARMACEUTICALS, INC.
		
	By:		         /s/ Howard B. Schiller

	Name:		Howard B. Schiller
	Title:		Chief Financial Officer and Treasurer

  
 [Signature Page to
Joinder Agreement] 

 
			
	BIOVAIL INTERNATIONAL S.Á.R.L.
		
	By:		         /s/ Michael Kennan

	Name:		Michael Kennan
	Title:		Manager
	
	VALEANT PHARMACEUTICALS LUXEMBOURG S.Á.R.L.
		
	By:		         /s/ Michael Kennan

	Name:		Michael Kennan
	Title:		Manager
	
	VALEANT INTERNATIONAL LUXEMBOURG S.Á.R.L.
		
	By:		         /s/ Michael Kennan

	Name:		Michael Kennan
	Title:		Manager
	
	BAUSCH & LOMB LUXEMBOURG S.Á.R.L.
		
	By:		         /s/ Michael Kennan

	Name:		Michael Kennan
	Title:		Manager

  
 [Signature Page to
Joinder Agreement] 

 
			
	LABORATOIRE CHAUVIN S.A.S.
		
	By:		         /s/ Linda A. LaGorga

			Name: Linda A. LaGorga
			Title:   General Manager
	
	BAUSCH & LOMB FRANCE S.A.S.
		
	By:		         /s/ Linda A. LaGorga

			Name: Linda A. LaGorga
			Title:   General Manager
	
	BCF S.A.S.
		
	By:		         /s/ Linda A. LaGorga

			Name: Linda A. LaGorga
			Title:   General Manager
	
	CHAUVIN OPSIA S.A.S.
		
	By:		         /s/ Linda A. LaGorga

			Name: Linda A. LaGorga
			Title:   General Manager

  
 [Signature Page to
Joinder Agreement] 

 
			
	VALEANT PHARMA HUNGARY LLC
		
	By:		              /s/ István
Langer

			Name:  István Langer
			Title:    Managing Director
	
	VALEANT PHARMA HUNGARY LLC
		
	By:		              /s/ Zoltán
Gábor

			Name:  Zoltán Gábor
			Title:    Managing Director

  
 [Signature Page to
Joinder Agreement] 

 
			
	VALEANT PHARMACEUTICALS IRELAND
		
	By:		              /s/ Graham
Jackson

			Name:  Graham Jackson
			Title:    Director
	
	VALEANT HOLDINGS IRELAND
		
	By:		              /s/ Graham
Jackson

			Name:  Graham Jackson
			Title:    Director

  
 [Signature Page to
Joinder Agreement] 

 
			
	B.L.J. COMPANY, LTD.
		
	By:		              /s/ Ian
Dolling

			Name:  Ian Dolling
			Title:    Representative Director and President

  
 [Signature Page to
Joinder Agreement] 

 
			
	AB SANITAS
		
	By:		              /s/ Saulius Mečislovas
Žemaitis

			Name:  Saulius Mečislovas Žemaitis
			Title:    General Manager

  
 [Signature Page to
Joinder Agreement] 

 
			
	UCYCLYD PHARMA, INC.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Senior Vice President and Treasurer

  
 [Signature Page to
Joinder Agreement] 

 
			
	VALEANT EUROPE B.V.
		
	By:		              /s/ Robert
Meijer

			Name:  Robert Meijer
			Title:    Attorney-in-Fact
	
	BAUSCH & LOMB B.V.
		
	By:		              /s/ Robert
Meijer

			Name:  Robert Meijer
			Title:    Attorney-in-Fact
	
	BAUSCH & LOMB OPS B.V.
		
	By:		              /s/ Robert
Meijer

			Name:  Robert Meijer
			Title:    Attorney-in-Fact

  
 [Signature Page to
Joinder Agreement] 

 
			
	 PRZEDSIĘBIORSTWO FARMACEUTYCZNE JELFA

S.A.

		
	By:		              /s/ Marcin
Wnukowski

			Name:  Marcin Wnukowski
			Title:    Attorney-in-Fact
	
	VALEANT SP.Z O. O.
		
	By:		              /s/ Marcin
Wnukowski

			Name:  Marcin Wnukowski
			Title:    Attorney-in-Fact
	
	VP VALEANT SP. Z O.O.SP.J.
		
	By:		              /s/ Marcin
Wnukowski

			Name:  Marcin Wnukowski
			Title:    Attorney-in-Fact
	
	VALEANT SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ SP.J.
		
	By:		              /s/ Marcin
Wnukowski

			Name:  Marcin Wnukowski
			Title:    Attorney-in-Fact

  
 [Signature Page to
Joinder Agreement] 

 
			
	PHARMASWISS D.O.O., BEOGRAD
		
	By:		              /s/ Dejan
Antonić

			Name:  Dejan Antonić
			Title:    General Manager
		
			             (corporate stamp)

  
 [Signature Page to
Joinder Agreement] 

 
			
	PHARMASWISS D.O.O., LJUBLJANA
		
	By:		              /s/ Senahil
Asanagić

			Name:  Senahil Asanagić
			Title:    Director

  
 [Signature Page to
Joinder Agreement] 

 
			
	INOVA PHARMACEUTICALS PROPRIETARY LIMITED
		
	By:		              /s/ Howard B.
Schiller

			Name:  Howard B. Schiller
			Title:    Director

  
 [Signature Page to
Joinder Agreement] 

 
			
	PHARMASWISS SA
		
	By:		              /s/ Matthias
Courvoisier

			Name:  Matthias Courvoisier
			Title:    Director

  
 [Signature Page to
Joinder Agreement] 

 
	
	Executed by BAUSCH & LOMB U.K. LIMITED, acting by:
	
	 /s/ Linda A. LaGorga

	Director
	
	 Name of director: Linda A. LaGorga
 in the
presence of:

	
	 /s/ Kaleena Nguyen

	Name of witness: Kaleena Nguyen
	Address: 400 Somerset Corporate Blvd.
	               Bridgewater, New Jersey 08807 U.S.A.
	
	Occupation: Legal

  
 [Signature Page to
Joinder Agreement] 

 
			
	BAUSCH & LOMB IOM S.P.A.
		
	By:		              /s/ Linda A.
LaGorga

			Name:  Linda A. LaGorga
			Title:    Director

  
 [Signature Page to
Joinder Agreement] 

									
	SIGNED for and on behalf		)						
	of VALEANT PHARMACEUTICALS		)						
	NEW ZEALAND LIMITED		)						
							/s/ Howard Schiller		/s/ Robert R. Chai-Onn
							Name:  Howard Schiller		Name:  Robert R. Chai-Onn
							Title:    Director		Title:    Director

  
 [Signature Page to
Joinder Agreement] 

 
			
	INOVA PHARMACEUTICALS (SINGAPORE) PTE LIMITED
		
	By:		              /s/ Howard
Schiller

			Name:  Howard Schiller
			Title:    Director

  
 [Signature Page to
Joinder Agreement] 

			
	Consented to by:
	
	BARCLAYS BANK PLC
	As Administrative Agent and Collateral Agent
		
	By:		         /s/ Christine Aharonian

			        Authorized Signatory

  
 [Signature Page to
Joinder Agreement] 

 SCHEDULE A 

TO JOINDER AGREEMENT 
  

							
	 Name of Lender
	  	 Type of Commitment
	  	Amount	 
	 BARCLAYS BANK PLC
	  	Series A-3 Tranche A Term Loan Commitment	  	$	 43,355,063.29	  
	 JPMORGAN CHASE BANK, N.A., TORONTO BRANCH
	  	Series A-3 Tranche A Term Loan Commitment	  	$	 13,815,361.55	  
	 MORGAN STANLEY BANK, N.A.
	  	Series A-3 Tranche A Term Loan Commitment	  	$	 43,866,587.69	  
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
	  	Series A-3 Tranche A Term Loan Commitment	  	$	 37,784,395.23	  
	 CITIBANK N.A.
	  	Series A-3 Tranche A Term Loan Commitment	  	$	 18,057,639.49	  
	 DEUTSCHE BANK AG NEW YORK BRANCH
	  	Series A-3 Tranche A Term Loan Commitment	  	$	 74,703,025.70	  
	 SUNTRUST BANK
	  	Series A-3 Tranche A Term Loan Commitment	  	$	 18,417,927.05	  
		  		  	  
	  
	 
					Total: $	250,000,000Exhibit 10.4

 

Execution Version

 

CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT

 

By and Between 

 

PES HOLDINGS, LLC 

 

AND 

 

NORTH YARD LOGISTICS, L.P. 

 

Dated as of January 1, 2015

 

 

CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT

 

This Contribution, Conveyance and Assumption Agreement, dated as of January 1, 2015 (this “Agreement”), is entered into by and between PES Holdings, LLC, a Delaware limited liability company (“Holdings”), and North Yard Logistics, L.P., a Delaware limited partnership (“North Yard”). The above-named entities are sometimes referred to in this Agreement individually as a “Party” and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, Holdings owns certain crude oil logistics assets identified on Schedule A hereto (the “Logistics Assets”);

 

WHEREAS, Holdings owns (a) all of the outstanding membership interests in North Yard GP, LLC, a Delaware limited liability company (“North Yard GP”) and general partner of North Yard (the “North Yard GP Interests”) and (b) all of the outstanding limited partner interests in North Yard;

 

WHEREAS, Holdings desires to contribute to North Yard the Logistics Assets as a capital contribution; and

 

WHEREAS, the members or partners of the Parties have taken all partnership or limited liability company action, as the case may be, required to approve the transactions contemplated by this Agreement.

 

NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements herein contained, the parties hereto agree as set forth below:

 

ARTICLE I 
 CONTRIBUTION OF THE LOGISTICS ASSETS BY HOLDINGS TO NORTH YARD

 

Holdings hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to North Yard, its successors and its assigns, for its and their own use forever, all right, title and interest in and to the Logistics Assets as a capital contribution, free and clear of all liens, encumbrances, security interests, charges or other claims. North Yard hereby accepts the Logistics Assets from Holdings. Notwithstanding anything contained in this Agreement to the contrary, none of the provisions of this Article I shall be operative or have any effect until 12:01 a.m. (New York City time) on January 1, 2015 (the “Effective Time”), at which time all the provisions of this Article I shall be effective and operative without further action by any Party hereto.

 

ARTICLE II 
 FURTHER ASSURANCES

 

From time to time after the Effective Time, and without any further consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and to do all such other acts and things, including, without limitation, taking all steps necessary to obtain modify, transfer and/or reissue those permits, consents and approvals necessary for the operation of the Logistics Assets that Holdings and North Yard agree should be obtained, modified, transferred to or reissued in the name of North Yard, making any notifications to State or federal agencies as required under covenants, consent decrees, settlement agreements or any similar documents, and making any required modifications to, and reasonably cooperating to ensure compliance with, those covenants, consent decrees, settlement

 

1

 

agreements or any similar documents, including the Consent Decree (as hereinafter defined), all in accordance with applicable law, as may be necessary or appropriate (i) to assure that the applicable Parties own all of the properties, rights, titles, interests, estates, remedies, powers and privileges contributed and assigned by this Agreement, or which are intended to be so contributed and assigned, (ii) to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the interests contributed and assigned by this Agreement, or which are intended to be so contributed and assigned, and (iii) to carry out the purposes and intent of this Agreement. North Yard shall reasonably cooperate with Philadelphia Energy Solutions Refining and Marketing LLC, a Delaware limited liability company and wholly owned subsidiary of Holdings (“PESRM”), in connection with PESRM’s compliance obligations arising under any permits, consents and approvals in relation to the operation of the Philadelphia Refinery Complex and/or the Logistics Assets (including, without limitation, the NPDES Permit and the O&M Agreement, as hereinafter defined), and shall avoid taking any actions that will cause any noncompliance with such permits, consents and approvals. To the extent applicable, North Yard hereby agrees to assume the obligations, rights, and benefits of, and be bound by the terms and conditions of, the Consent Decree to the extent any such obligations, terms, and conditions relate to the Logistics Assets. To the extent the Consent Decree is not applicable to the Logistics Assets, North Yard agrees to reasonably cooperate with PESRM in connection with PESRM’s compliance obligations arising under the Consent Decree in relation to the Logistics Assets or otherwise. For purposes of this Agreement, (a) “Consent Decree” shall mean that certain consent decree entered by the United States District Court for the Eastern District of Pennsylvania on March 21, 2006, in Civil Action 05-02866, by and among the United States of America, the Commonwealth of Pennsylvania, the City of Philadelphia, the State of Oklahoma, the State of Ohio, and Sunoco, Inc., as amended from time to time; (b) “Philadelphia Refinery Complex” shall mean the Point Breeze refinery complex and the Girard Point refinery complex located at 3144 W Passyunk Ave, Philadelphia, PA 19145, owned and operated by PESRM; (c) “NPDES Permit” shall mean that certain Authorization to Discharge Under the National Pollutant Discharge Elimination System Discharge Requirements for Industrial Wastewater Facilities (PA0012629) issued to PESRM by the Commonwealth of Pennsylvania, Department of Environmental Protection, and effective September 1, 2013, as amended from time to time; and (d) “O&M Agreement” shall mean that certain Operations & Maintenance Agreement for Stormwater Management Practices entered into by and between PESRM and the City of Philadelphia through the Water Department on August 13, 2013, as amended from time to time.

 

ARTICLE III 
 MISCELLANEOUS

 

Section 3.1                                   Headings; References; Interpretation. All Article and Section headings in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof” and “herein” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole, including, without limitation, all Schedules attached hereto, and not to any particular provision of this Agreement. All references herein to Articles, Sections and Schedules shall, unless the context requires a different construction, be deemed to be references to the Articles and Sections of this Agreement and the Schedules attached hereto, and all such Schedules attached hereto are hereby incorporated herein and made a part hereof for all purposes. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter.

 

2

 

Section 3.2                                   Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns.

 

Section 3.3                                   No Third Party Rights. The provisions of this Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies, and no person is or is intended to be a third-party beneficiary of any of the provisions of this Agreement.

 

Section 3.4                                   Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all signatory Parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument.

 

Section 3.5                                   Choice of Law. This Agreement shall be subject to and governed by the laws of the state of Delaware. EACH OF THE PARTIES HERETO AGREES THAT THIS AGREEMENT INVOLVES AT LEAST U.S. $100,000 AND THAT THIS AGREEMENT HAS BEEN ENTERED INTO IN EXPRESS RELIANCE UPON 6 Del. C. § 2708. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES (i) TO BE SUBJECT TO THE JURISDICTION OF THE COURTS OF THE STATE OF DELAWARE AND OF THE FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, AND (ii) TO THE EXTENT SUCH PARTY IS NOT OTHERWISE SUBJECT TO SERVICE OF PROCESS IN THE STATE OF DELAWARE, TO APPOINT AND MAINTAIN AN AGENT IN THE STATE OF DELAWARE AS SUCH PARTY’S AGENT FOR ACCEPTANCE OF LEGAL PROCESS AND TO NOTIFY THE OTHER PARTIES OF THE NAME AND ADDRESS OF SUCH AGENT.

 

Section 3.6                                   Severability. If any of the provisions of this Agreement are held by any court of competent jurisdiction to contravene, or to be invalid under, the laws of any political body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement. Instead, this Agreement shall be construed as if it did not contain the particular provisions or provisions held to be invalid and an equitable adjustment shall be made and necessary provision added so as to give effect to the intention of the Parties as expressed in this Agreement at the time of execution of this Agreement.

 

Section 3.7                                   Amendment or Modification. This Agreement may be amended or modified from time to time only by the written agreement of all the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an amendment to this Agreement.

 

Section 3.8                                   Integration. This Agreement and the instruments referenced herein supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to the subject matter of this Agreement and such instruments. This Agreement and such instruments contain the entire understanding of the Parties with respect to the subject matter hereof and thereof. There are no unwritten oral agreements between the Parties. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is contained in a written amendment hereto executed by the Parties hereto after the date of this Agreement.

 

Section 3.9                                   Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “bill of sale” or “assignment” of the assets and interests referenced herein.

 

[Signature Page Follow]

 

3

 

IN WITNESS WHEREOF, the Parties to this Agreement have caused it to be duly executed as of the date first above written.

 

	
 
    	
PES   HOLDINGS, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   James T. Rens
    
	
 
    	
 
    	
 
    	
Name:
    	
James   T. Rens
    
	
 
    	
 
    	
 
    	
Title:
    	
Chief   Financial Officer
    
	
 
    	
 
    
	
 
    	
NORTH   YARD LOGISTICS, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
North   Yard GP, LLC 
    
	
 
    	
 
    	
its   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Michael J. Colavita 
    
	
 
    	
 
    	
 
    	
Name:
    	
Michael   J. Colavita 
    
	
 
    	
 
    	
 
    	
Title:
    	
Chief   Executive Officer
    

 

[Signature Page to Contribution, Conveyance and Assumption Agreement]

 

 

SCHEDULE A

 

LOGISTICS ASSETS

 

·                  Receipt capability via pipeline from Transflo unloading facility

·                  12” line runs from Transflo thru the PES fence line to join up into the 24” North Yard Rail Terminal pump discharge piping

·                  2 rail interconnects via secured gates to the CSX Main Rail line

·                  West Gate is located at the Transflo gate which connects the North Yard Rail Terminal tracks to the CSX tracks (#39 &#40)

·                  East Gate is located at the CSX Penrose side which connects the North Yard Rail Terminal tracks to the CSX tracks on the Highline

·                  North Yard Rail Terminal lighting system

·                  Multiple LED lighting stations along the manifolds and the road ways

·                  Dual Manifolds - 120 Railcar Spots per manifold

·                  Tracks #1/#2–manifold with 120 railcar offloading stations

·                  Tracks #5/#6–manifold w/120 railcar offloading stations

·                  Drainage system and spill containment catch basin

·                  The Manifolds are pitched to collect all the runoff into a 12’ wide swell that pitches to the center to be collected into the basin, which is contained from the Refinery wastewater treatment system by a 24” shear gate valve

·                  Storm water drainage pump

·                  3” discharge/suction

·                  87psi operating pressure

·                  300gpm

·                  Separator & Drainage systems

·                  All storm water and the retention pond are tied into the Refinery wastewater treatment system to the Klondike Separator

·                  Composite Welker Crude Oil Sampling System

·                  Crude oil sampler system style: LSM-6MAI, w/24’ 150RF (sample container enclosure) 

·                  Double Pole Switch to take samples once every train into two 3-gallon sample tanks 10 minutes after the pumps come on line and start to offload process

·                  Motor Control Center (Dual Power Feeds)

·                  Houses the Switch Boards for the pumps and VFD, electrical and lighting breakers, DeltaV HUB and viewing station set 12’ above the grade to be out of the water table

·                  Delta V Control System

·                  Workstations and servers utilized for the development, maintenance and operation of the control system, and Delta V Controllers utilized for the control of associated equipment and instrumentation related to the process

·                  Fire Hydrants

·                  28 Fire Hydrants w/monitors attached along the South side of track#1/#2–manifold 

·                  30 Fire Hydrants w/monitors attached along the North side of track#5/#6–manifold

·                  Foam System for Pump Pit Area

·                  Aqueous Film Forming Foam that, when mixed with water and air, creates a blanket of fire suppression in the pump pit

·                  Fire Extinguishers

·                  40+ Fire Extinguishers on tracks #1/#2–manifold

·                  40+ Fire Extinguishers on tracks #5/#6–manifold

·                  8-10 Fire Extinguishers in the shelters

·                  2 Coriolis Meters

 

 

·                  12” Coriolis Meters with flow range 2,000 – 10,000bbl/hour @0.1% accuracy

·                  6 Rails/tracks/switches/rail crossings

·                  Tracks #1/#2–offloading manifold with permanent derailers & blue flag lock out system 

·                  Tracks #3/#4–staging for inbound trains (full)

·                  Tracks #5/#6–offloading manifold with permanent derailers & blue flag lock out system 

·                  Two railroad crossings (one on the West end and the other on the East end)

·                  Multiple switches throughout the North Yard Rail Terminal track system to move trains from track to track

·                  4 Bad Order tracks

·                  Tracks #7/#8/#9/#10

·                  6 Sundyne Pumps and associated unloading pipes/manifolds, each with the following specifications

·                  Capacity of 3500gpm@260’ TDH

·                  Motor: 300 H.P@1770rpm

·                  480VAC/60 Hz/3 phase

·                  14” Suction / 12” Discharge Piping

·                  Remote Shutdown Capability from the West end of the MCC

·                  Crude Oil Filter

·                  14” 150RF

·                  Pressure drop 1.0psig

·                  Crude Oil Drain Pump

·                  35gpm@30’TDH

·                  3HP @1150rpm

·                  Vapor Balancing System

·                  24 Vent Stations (12 per manifold – 4 on the East end, 4 in the middle & 4 on the West end)

·                  24 - 4” & 2” cargo hoses for the offloading and vent trees stations

·                  24 – 2” 1/4 turn ball valves

·                  24 – 4” & 2” isolations valves

 

·                  Operations Building/Unloader Shelter

·                  Module shelter to house and comfort the unloaders during breaks

·                  Module shelter to hold meetings for supervision

·                  Located at the entrance into the North Yard Rail Terminal at the end of River Rd

 

·                  Vehicles (Kubotas, trucks & vans)

·                  6 Kubotas (diesel operated)

·                  5 four-door units to transport the 4 unloaders per team (five teams total) to the manifold job area

·                  1 two-door unit to transport the Shift Supervisors around the North Yard Rail Terminal

·                  2 eighteen-passenger vans to transport the unloaders back and forth to Point Breeze change house

·                  3 utility pickup trucks

·                  2 two door pickup truck for the utility unloader and special projects unloader

·                  1 two door pickup truck for the Shift Supervisors

·                  Hoses, fittings, tools, vacuum breakers, valves, pipe

·                  Multiple size fittings from 4” BOV adaptors (coarse thread to quick connect), 1”/2”/3” adaptors to convert the vent railcar connections to the vent system.

·                  Multiple tools to use for hooking up and disconnecting railcars

 

 

·                  Pipe wrenches, spanner wrenches, socket wrenches, etc....

·                  240 - 2” Vacuum Breakers used to prevent venting to atmosphere and allow the crude to be displaced and not pull a vacuum on the railcar by replacing void space with air.

·                  240 – 4” offloading cargo hoses

·                  240 – API Couplers

·                  240 – Assemblies w/API Adapters

·                  Large variety of gaskets

·                  240 – 4” 1/4 turn riser valves

·                  Multiple runs of pipe ranging from 3/4” to 24” OD

·                  Multiple size of isolation valves ranging from 3/4” to 24”

·                  Elevated 24” pipeline, starting at the North Yard Rail Terminal pump discharge, where the unloading manifolds each discharge into the 24” pipe by going through the 6 Sundyne pumps, and ending at the outlet of the custody transfer meter. Note that this 24” pipeline then continues from the custody transfer meter to the Refinery crude oil storage tanks, and that PESRM owns that section of the pipeline beyond the custody transfer meter.

·                  Mobile Stair Platforms

·                  PP128 Platform Self Propelled & Self Leveling Stairs

·                  Diesel Generator, Safety Shower, HVAC Enclosed Cab, Hydraulic System

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