Document:

Exhibit 10.2

 

November 24, 2014

Albemarle Corporation

451 Florida Street

Baton Rouge, Louisiana 70801

	
  

	
Re:

	
Credit Agreement, dated as of February 7, 2014 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among Albemarle Corporation, a Virginia corporation (the “Company”), the other Borrowers party thereto, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent.

Ladies and Gentlemen:

Reference is hereby made to the Credit Agreement described above.  Capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Credit Agreement.

Notwithstanding anything to the contrary contained in Section 8.07 of the Credit Agreement, the Required Lenders hereby consent to the Guarantee by one or more Subsidiaries of (i) the Specified Senior Notes so long as the Company is in compliance with Section 7.12 of the Credit Agreement, (ii) that certain Credit Agreement, dated as of August 15, 2014, among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent and (iii) that certain Credit Agreement to be dated on or about November 25, 2014, among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent.

The consent contained herein is a one-time consent, is expressly limited to the purposes and matters set forth herein.  Nothing contained herein shall constitute a waiver or modification of any other rights or remedies the Administrative Agent or any Lender may have under any Loan Document or applicable Law.  The Credit Agreement shall remain in full force and effect according to its terms (as modified by this letter).

This letter may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.  Delivery of an executed counterpart by facsimile or other secure electronic format (.pdf) shall be as effective as an original.  This letter shall become effective upon the Administrative Agent’s receipt of counterparts hereof duly executed by the Required Lenders and the Borrowers.

This letter shall be governed by and construed in accordance with the laws of the State of New York.

                         

	 	
Very truly yours,

	 
	 	 	 
	 	BANK OF AMERICA, N.A., 

as Administrative Agent

	 
	 	 	 
	 	 	 	 
	
 

	
By: 

	 /s/ Robert Rittelmeyer 	 
	 	Name: 	Robert Rittelmeyer 	 
	 	Title: 	Vice President	 
	 	 	 	 

ALBEMARLE CORPORATION

CONSENT LETTER (REVOLVER)

 

  

  

  

                  

LENDERS:                                                               

 

	 	
BANK OF AMERICA, N.A.,

as a Lender

	 
	 	 	 	 
	
 

	
By: 

	  /s/ Darren Bielawski	 
	 	Name: 	Darren Bielawski 	 
	 	Title: 	Vice President 	 
	 	 	 	 

 

	 	

JPMORGAN CHASE BANK, N.A.,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ John Kushnerick	 
	 	Name: 	John Kushnerick 	 
	 	Title: 	Vice President  	 
	 	 	 	 

	 	

BNP PARIBAS,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Mike Shryock	 
	 	Name: 	Mike Shryock 	 
	 	Title: 	Managing Director 	 
	 	 	 

 

	
  

	
By: 

	 /s/ Mike Hoffman	 
	 	Name: 	Mike Hoffman 	 
	 	Title: 	Vice  President 	 
	 	 	 	 

 

	 	

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Mark Campbell 	 
	 	Name: 	Mark Campbell 	 
	 	Title: 	Authorized Signatory 	 
	 	 	 	 

 

	 	

THE ROYAL BANK OF SCOTLAND PLC,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ William McGinty 	 
	 	Name: 	William McGinty 	 
	 	Title: 	Director 	 
	 	 	 	 

	 	

WELLS FARGO BANK, N.A.,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Ashley Walsh	 
	 	Name: 	Ashley Walsh 	 
	 	Title: 	Director 	 
	 	 	 	 

 

ALBEMARLE CORPORATION

CONSENT LETTER (REVOLVER)

 

  

  

  

 

	 	

SUMITOMO MITSUI BANKING CORPORATION,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ James D. Weinstein	 
	 	Name: 	James D. Weinstein 	 
	 	Title: 	Managing Director 	 
	 	 	 	 

 

	 	

U.S. BANK, NATIONAL ASSOCIATION,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Steven Dixon	 
	 	Name: 	Steven Dixon	 
	 	Title: 	Vice President 	 
	 	 	 	 

 

	 	

HSBC BANK USA, NATIONAL ASSOCIATION,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Jean-Philippe Huguet	 
	 	Name: 	Jean-Philippe Huguet 	 
	 	Title: 	Director 	 
	 	 	 	 

	 	

PNC BANK, NATIONAL ASSOCIATION,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Christian S. Brown	 
	 	Name: 	Christian S. Brown 	 
	 	Title: 	Senior Vice President 	 
	 	 	 	 

                                

	 	

THE NORTHERN TRUST COMPANY,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Sara Bravo McCaulay	 
	 	Name: 	Sara Bravo McCaulay 	 
	 	Title: 	Vice President 	 
	 	 	 	 

 

	 	

WHITNEY BANK,

as a Lender

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Mark R. Phillips	 
	 	Name: 	Mark R. Phillips 	 
	 	 	 	 
	 	 	 	 

 

ALBEMARLE CORPORATION

CONSENT LETTER (REVOLVER)

 

  

  

  

ACCEPTED AND AGREED AS OF THE DATE SET FORTH ABOVE:

	
COMPANY: 

	

ALBEMARLE CORPORATION,

a Virginia corporation

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Scott Tozier	 
	 	Name: 	Scott Tozier 	 
	 	Title: 	Sr. VP and CFO 	 
	 	 	 	 

 

	
BELGIAN BORROWER 

	

ALBEMARLE GLOBAL FINANCE COMPANY SCA

 

By: ALBEMARLE EUROPE SPRL,

as unlimited partner

	 
	 	 	 	 
	
  

	
By: 

	 /s/ Annemie Donkers	 
	 	Name: 	Annemie Donkers 	 
	 	Title: 	Director 	 
	 	 	 	 

                                                     

 

              

 

 

 

 

 

 

 

ALBEMARLE CORPORATION

CONSENT LETTER (REVOLVER)Exhibit 10.3

 

November 24, 2014

Albemarle Corporation

451 Florida Street

Baton Rouge, Louisiana 70801

	
  

	
Re:

	
Credit Agreement, dated as of August 15, 2014 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among Albemarle Corporation, a Virginia corporation (the “Borrower”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent.

Ladies and Gentlemen:

Reference is hereby made to the Credit Agreement described above.  Capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Credit Agreement.

Notwithstanding anything to the contrary contained in Section 8.07 of the Credit Agreement, the Required Lenders hereby consent to the Guarantee by one or more Subsidiaries of (i) the Specified Senior Notes so long as the Borrower is in compliance with Section 7.12 of the Credit Agreement, (ii) that certain Credit Agreement, dated as of February 7, 2014, among the Borrower, the other borrowers party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent and (iii) that certain Credit Agreement to be dated on or about November 25, 2014, among the Borrower, the lenders party thereto and Bank of America, N.A., as administrative agent.

The consent contained herein is a one-time consent, is expressly limited to the purposes and matters set forth herein.  Nothing contained herein shall constitute a waiver or modification of any other rights or remedies the Administrative Agent or any Lender may have under any Loan Document or applicable Law.  The Credit Agreement shall remain in full force and effect according to its terms (as modified by this letter).

This letter may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.  Delivery of an executed counterpart by facsimile or other secure electronic format (.pdf) shall be as effective as an original.  This letter shall become effective upon the Administrative Agent’s receipt of counterparts hereof duly executed by the Required Lenders and the Borrower.

This letter shall be governed by and construed in accordance with the laws of the State of New York.

                                            

	 	Very truly yours,	 
	 	 	 
	 	BANK OF AMERICA, N.A.,

as Administrative Agent	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	 /s/ Robert Rittelmeyer	 
	 	Name:	Robert Rittelmeyer	 
	 	Title:	Vice President	 
	 	 	 	 	 

 

ALBEMARLE CORPORATION

CONSENT LETTER (TERM LOAN)

 

  

  

  

                    

	
LENDERS: 

	BANK OF AMERICA, N.A.,

as a Lender	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	 /s/ Darren Bielawski	 
	 	Name:	Darren Bielawski 	 
	 	Title:	Vice President 	 
	 	 	 	 	 

               

	 	JPMORGAN CHASE BANK, N.A.,

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	 /s/ John Kushnerick	 
	 	Name:	John Kushnerick 	 
	 	Title:	Vice President 	 
	 	 	 	 	 

                         

	 	BNP PARIBAS,

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Mike Shryock	 
	 	Name: 	Mike Shryock	 
	 	Title: 	Managing Director	 
	 	 	 	 	 

                    

	 	By: 	/s/ Mike Hoffman	 
	 	Name: 	Mike Hoffman	 
	 	Title: 	Vice President	 
	 	 	 	 	 

                

	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Mark Campbell	 
	 	Name: 	Mark Campbell	 
	 	Title: 	Authorized Signatory	 
	 	 	 	 	 

                           

	 	THE ROYAL BANK OF SCOTLAND PLC,

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ William McGinty	 
	 	Name: 	William McGinty	 
	 	Title: 	Director	 
	 	 	 	 	 

                

	 	WELLS FARGO BANK, N.A.,

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Ashley Walsh	 
	 	Name: 	Ashley Walsh	 
	 	Title: 	Director	 
	 	 	 	 	 

 

 

 

ALBEMARLE CORPORATION

CONSENT LETTER (TERM LOAN)

 

  

  

  

 

	 	SUMITOMO MITSUI BANKING CORPORATION, 

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ James D. Weinstein	 
	 	Name: 	James D. Weinstein	 
	 	Title: 	Managing Director	 
	 	 	 	 	 

                     

	 	U.S. BANK, NATIONAL ASSOCIATION, 

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Steven Dixon	 
	 	Name: 	Steven Dixon	 
	 	Title: 	Vice President	 
	 	 	 	 	 

                   

	 	HSBC BANK USA, NATIONAL ASSOCIATION, 

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Jean-Philippe Huguet	 
	 	Name: 	Jean-Philippe Huguet	 
	 	Title: 	Director	 
	 	 	 	 	 

                    

	 	PNC BANK, NATIONAL ASSOCIATION, 

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Christian S. Brown	 
	 	Name: 	Christian S. Brown	 
	 	Title: 	Senior Vice President	 
	 	 	 	 	 

                     

	 	THE NORTHERN TRUST COMPANY, 

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Sara Bravo McCaulay	 
	 	Name: 	Sara Bravo McCaulay	 
	 	Title: 	Vice President	 
	 	 	 	 	 

                      

	 	WHITNEY BANK, 

as a Lender

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Mark R. Phillips	 
	 	Name: 	Mark R. Phillips	 
	 	 	 	 
	 	 	 	 	 

 

 

 

 

 

 

 

 

ALBEMARLE CORPORATION

CONSENT LETTER (TERM LOAN)

 

  

  

  

 

ACCEPTED AND AGREED AS OF THE DATE SET FORTH ABOVE:  

                       

	
BORROWER:

	ALBEMARLE CORPORATION,

a Virginia corporation	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Scott Tozier	 
	 	Name: 	Scott Tozier	 
	 	Title: 	Sr. Vice President and CFO	 
	 	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALBEMARLE CORPORATION

CONSENT LETTER (TERM LOAN)

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