Document:

MTRN-EX10.3_2014.9.26-Q3

EXHIBIT 10.3
AMENDMENT NO. 10 TO CONSIGNMENT AGREEMENT
THIS AMENDMENT NO. 10 TO CONSIGNMENT AGREEMENT (this “Amendment”) is made as of September 30, 2014, by and among CANADIAN IMPERIAL BANK OF COMMERCE, a Canadian chartered bank (the “PM Lender”); CIBC WORLD MARKETS INC., an Ontario corporation and subsidiary of the PM Lender (the “Copper Lender” and together with the PM Lender, the “Metal Lenders”); MATERION CORPORATION (f/k/a Brush Engineered Materials Inc.), an Ohio corporation (“BEM”); MATERION ADVANCED MATERIALS TECHNOLOGIES AND SERVICES INC. (f/k/a Williams Advanced Materials Inc.), a New York corporation (“WAM”); MATERION TECHNICAL MATERIALS INC. (f/k/a Technical Materials, Inc.), an Ohio corporation (“TMI”); MATERION BRUSH INC. (f/k/a Brush Wellman Inc.), an Ohio corporation (“BWI”); MATERION TECHNOLOGIES INC. (f/k/a Zentrix Technologies Inc.), an Arizona corporation (“ZTI”); MATERION BREWSTER LLC (f/k/a Williams Acquisition, LLC), a New York limited liability company d/b/a Pure Tech (“Pure Tech”); MATERION PRECISION OPTICS AND THIN FILM COATINGS CORPORATION (f/k/a Thin Film Technology, Inc.), a California corporation (“TFT”); MATERION LARGE AREA COATINGS LLC (f/k/a Techni-Met, LLC), a Delaware limited liability company (“TML”); MATERION ADVANCED MATERIALS TECHNOLOGIES AND SERVICES CORP. (f/k/a Academy Corporation), a New Mexico corporation (“AC”); MATERION ADVANCED MATERIALS TECHNOLOGIES AND SERVICES LLC (f/k/a Academy Gallup, LLC), a New Mexico limited liability company (“AG”); and such other Subsidiaries of BEM who may from time to time become parties by means of their execution and delivery with the Metal Lenders of a Joinder Agreement under the Consignment Agreement (as defined below).  BEM, WAM, TMI, BWI, ZTI, Pure Tech, TFT, TML, AC, AG and such Subsidiaries are herein sometimes referred to collectively as the “Customers” and each individually as a “Customer”.

WITNESSETH:

WHEREAS, the Metal Lenders and the Customers are parties to a certain Consignment Agreement, dated as of October 2, 2009, as amended by that certain (i) Amendment No. 1 to Consignment Agreement, dated as of March 10, 2010, (ii) Omnibus Amendment to Metal Documents, dated as of June 10, 2010, (iii) Amendment No. 3 to Consignment Agreement, dated as of September 30, 2010, (iv) Amendment No. 4 to Consignment Agreement, dated as of November 10, 2010, (v) Amendment No. 5 to Consignment Agreement, dated as of March 7, 2011, (vi) Amendment No. 6 to Consignment Agreement, dated as of September 13, 2011, (vii) Amendment No. 7 to Consignment Agreement, dated as of August 24, 2012 and (viii) Amendment No. 8 to Consignment Agreement, dated as of October 1, 2013, and (viii) Amendment No. 9 to Consignment Agreement, dated as of July 23, 2014 (as amended, the “Consignment Agreement”); and
WHEREAS, the parties hereto desire to amend the Consignment Agreement as set forth herein;
NOW, THEREFORE, for value received and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows:
1.    Defined Terms.  Initially capitalized terms used but not defined in this Amendment have the meanings given to such terms in the Consignment Agreement.
2.    Amendments.  

COI-1507287v2        

(a)    The definition of “Maturity Date” appearing in Section 1 of the Consignment Agreement is hereby amended and restated in its entirety to read as follows:
“Maturity Date” means September 30, 2016.  Any obligations of the Customers under this Agreement that are not paid when due on or before the Maturity Date shall remain subject to the provisions of this Agreement until all Obligations are paid and performed in full.
3.    Representations and Warranties.  To induce the Metal Lenders to enter into this Amendment, each Customer hereby represents and warrants to the Metal Lenders that:  (a) such Customer has full power and authority, and has taken all action necessary, to execute and deliver this Amendment and to fulfill its obligations hereunder and to consummate the transactions contemplated hereby; (b) the making and performance by such Customer of this Amendment do not and will not violate any law or regulation of the jurisdiction of its organization or any other law or regulation applicable to it; (c) this Amendment has been duly executed and delivered by such Customer and constitutes the legal, valid and binding obligation of such Customer, enforceable against it in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally and except as the same may be subject to general principles of equity; and (d) on and as of the date hereof, after giving effect to this Amendment, no Default or Event of Default exists under the Consignment Agreement.
4.    Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and performed in such State. 
5.    Integration of Amendment into Consignment Agreement.  The Consignment Agreement, as amended hereby, together with the other Metal Documents, is intended by the parties as the final, complete and exclusive statement of the transactions evidenced by the Consignment Agreement.  All prior or contemporaneous promises, agreements and understandings, whether oral or written, are deemed to be superseded by the Consignment Agreement, as amended hereby, and no party is relying on any promise, agreement or understanding not set forth in the Consignment Agreement, as amended hereby.  The Consignment Agreement, as amended hereby, may not be amended or modified except by a written instrument describing such amendment or modification executed by the Customers and the Metal Lenders.  The parties hereto agree that this Amendment shall in no manner affect or impair the liens and security interests evidenced or granted by the Consignment Agreement or in connection therewith.  Except as amended hereby, the Consignment Agreement shall remain in full force and effect and is in all respects hereby ratified and affirmed.
6.    Expenses.  The Customers covenant and agree jointly and severally to pay all reasonable out-of-pocket expenses, costs and charges incurred by the Metal Lenders (including reasonable fees and disbursement of counsel) in connection with the review and implementation of this Amendment.
7.    Signatures.  This Amendment may be executed by the parties hereto in several counterparts hereof and by the different parties hereto on separate counterparts hereof, each of which shall be an original and all of which shall together constitute one and the same agreement.  Delivery of an executed signature page of this Amendment by electronic transmission shall be effective as an in hand delivery of an original executed counterpart hereof.

[Signature Page Follows]

COI-1507287v2    -2-

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

	 

	MATERION CORPORATION 

By: /s/ Michael C. Hasychak
     Michael C. Hasychak 
     Vice President, Treasurer and Secretary

	MATERION ADVANCED MATERIALS TECHNOLOGIES AND SERVICES INC.

By: /s/ Michael C. Hasychak
     Michael C. Hasychak 
     Vice President, Treasurer and Secretary

	MATERION TECHNICAL MATERIALS INC.

By: /s/ Michael C. Hasychak
     Michael C. Hasychak 
     Vice President, Treasurer and Secretary

	MATERION BRUSH INC. 

By: /s/ Michael C. Hasychak
     Michael C. Hasychak 
     Vice President, Treasurer and Secretary

	MATERION TECHNOLOGIES INC.

By: /s/ Michael C. Hasychak
     Michael C. Hasychak 
     Chief Financial Officer and Secretary

	MATERION BREWSTER LLC

By: Michael C. Hasychak
     Michael C. Hasychak 
     Treasurer

	MATERION PRECISION OPTICS AND THIN FILM COATINGS CORPORATION 

By: /s/ Gary W. Schiavoni
      Gary W. Schiavoni 
      Secretary

	MATERION LARGE AREA COATINGS LLC 

By: /s/ Gary W. Schiavoni
     Gary W. Schiavoni
     Asst. Secretary and Asst. Treasurer

	MATERION ADVANCED MATERIALS TECHNOLOGIES AND SERVICES CORP.

By: /s/ Gary W. Schiavoni
      Gary W. Schiavoni
      Asst. Secretary and Asst. Treasurer 
	MATERION ADVANCED MATERIALS TECHNOLOGIES AND SERVICES LLC 

By: /s/ Donald G. Klimkowicz
     Donald G. Klimkowicz
     Manager

	

METAL LENDERS:
	 

	 
	 

	CANADIAN IMPERIAL BANK OF COMMERCE

By: /s/ Dominic Sorresso
Name:  Dominic Sorresso
Title:  Authorized Signatory
	CIBC WORLD MARKETS INC.

By: /s/ Ian Cays
Name:  Ian Cays
Title: Authorized Signatory

COI-1507287v2TEP 2014.9.30 10Q Exhibit 10.3

Exhibit 10.3

AMENDMENT NO. 1 
TO
SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT
OF TALLGRASS PONY EXPRESS PIPELINE, LLC
This Amendment No. 1 (this “Amendment”) is made as of September 29, 2014 by and among Tallgrass Pony Express Pipeline, LLC, a Delaware limited liability company (the “Company”), Tallgrass Operations, LLC, a Delaware limited liability company (“Operations”), and Tallgrass PXP Holdings, LLC, a Delaware limited liability company (“PXP Holdings”), and amends that certain Second Amended and Restated Limited Liability Company Agreement of the Company, executed and effective for tax purposes as of September 5, 2014, and effective for all other purposes as of September 1, 2014 (the “Original Agreement”). Capitalized terms used in this Amendment and not otherwise defined herein are as defined in the Original Agreement.
WHEREAS, the parties desire to amend the Original Agreement to remove any approval rights that Operations has with respect to the Budget determined by the Managing Member, with the result that the Managing Member has sole discretion with respect to setting, monitoring and amending the Budget.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
		
	1.
	Sections 6.5(h), 6.5(i), 6.5(j) and 6.5(k) of the Original Agreement shall each be amended by deleting the following phrase at the end of each section: “, except as contemplated by the Budget”.

		
	2.
	Section 6.5(m) of the Original Agreement shall be amended by deleting the following phrase from the end of the clause: “(other than pursuant to the Budget)”.

		
	3.
	Section 6.5(n) of the Original Agreement shall be deleted, and Sections 6.5(o), (p) and (q) of the Original Agreement shall be renumbered as Sections 6.5(n), (o) and (p) in corresponding order.

		
	4.
	Section 7.6 of the Original Agreement shall be deleted and replaced with the following:

7.6    Approved Budget.  The Managing Member shall prepare the operating budget and the capital budget for the Company (collectively, the “Budget”) for each calendar year and shall circulate such Budget to the other Members for the forthcoming budget period on or about fifteen (15) days prior to the end of each calendar year.  The Managing Member may make exceptions to or amend the Budget from time to time in its sole discretion.
		
	5.
	This Amendment and the Original Agreement embody the complete agreement and understanding among the parties hereto and supersede and preempt any prior understandings, agreements or representations by or among the parties hereto, written or oral, that may have related to the subject matter hereof in any way.

		
	6.
	This Amendment may be executed simultaneously in two or more separate counterparts, any one (1) of which need not contain the signatures of more than one party, but each of which shall be an original and all of which together shall constitute one and the same agreement binding on all the parties hereto.

		
	7.
	This Amendment shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

		
	8.
	Except as expressly modified or amended by this Amendment, the terms and conditions of the Original Agreement shall remain in full force and effect.

[Signature Page Follows]    

IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf this Agreement as of the date first written above.

TALLGRASS OPERATIONS, LLC

		
	By:
	/s/ David G. Dehaemers, Jr.                

Name:  David G. Dehaemers, Jr.    
Title:    President and Chief Executive Officer       

TALLGRASS PXP HOLDINGS, LLC

		
	By:
	/s/ David G. Dehaemers, Jr.                

Name:  David G. Dehaemers, Jr.    
Title:    Chief Executive Officer   

TALLGRASS PONY EXPRESS PIPELINE, LLC

		
	By:
	/s/ David G. Dehaemers, Jr.                

Name:  David G. Dehaemers, Jr.    
Title:    Chief Executive Officer

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