Document:

Promissory note dated June 30, 2003, for principal amount of $40,000,000

 Exhibit 10.28 
  
 PROMISSORY NOTE 
  

			
	 U.S.$40,000,000
	 	Sunnyvale, California
	 	 	June 30, 2003

  
 FOR VALUE RECEIVED,
FASL LLC, a Delaware limited liability company (“Maker”), promises to pay to Fujitsu Microelectronics Holding, Inc., a Delaware corporation (together with its successors and permitted assigns, “Payee”), the
principal sum of U.S.$40,000,000, together with interest as provided in this Note (such outstanding principal amount, the “Loan”), as follows: 
  
 1. Interest. Maker shall pay interest on the unpaid principal amount outstanding from time to time hereunder at a
rate per annum equal to LIBOR (as determined for each Interest Period) plus four percent (4.00%) (the “Interest Rate”); provided, however that in no event shall the Interest Rate exceed seven percent (7%). As used herein, (a)
“Interest Payment Date” means each September 30, December 31, March 31 and June 30, (b) “Interest Period” means, initially, the period commencing on the date hereof and ending on the next succeeding Interest Payment
Date, and thereafter, each period commencing on the last day of the preceding Interest Period and ending on the next succeeding Interest Payment Date; provided that no Interest Period may end after the Final Maturity Date (and any Interest
Period that would otherwise end after the Final Maturity Date will be adjusted to end on the Final Maturity Date), and (c) “LIBOR” means, for any Interest Period, the rate published by The Wall Street Journal (Western
Edition) two (2) business days prior to the first day of such Interest Period under the heading “Money Rates” and “London Interbank Offered Rates (LIBOR)” for a term of three months (provided that, in the event that the
“London Interbank Offered Rates” are not published in The Wall Street Journal on any date of determination hereunder, the Interest Rate for the applicable Interest Period shall be (x) the rate per annum determined by Payee as the
rate of interest at which deposits for delivery on the first day of such Interest Period, in same day funds in the approximate amount of the unpaid principal amount outstanding at such time, and with a term of three months, would be offered by Bank
of America, N.A.’s London Branch to major banks in the London or other offshore interbank market at their request at approximately 4:00 p.m. (London time) two business days prior to the first day of such Interest Period, plus (y) four percent
(4.00%); provided further that in no event shall the Interest Rate exceed seven percent (7%)). The Interest Rate shall apply both before and after Payee obtains any judgment on this Note and shall be payable on each Interest Payment Date and
upon the Final Maturity Date (or if any such day is not a business day, then the immediately preceding business day). Interest shall accrue from the date hereof and shall continue to accrue, on the basis of a 365 day year, on the outstanding
principal through (but not including) the date upon which such principal is paid in full.  
  
 2. Maturity and Acceleration. Maker shall repay the entire unpaid principal balance of this Note, together with all accrued and unpaid interest at
the Interest Rate to (but not including) the date of payment and all costs, expenses, and other sums then due under this Note (collectively, the “Obligations”), upon the first to occur of: (i) June 30, 2006; or (ii) any default by
Maker under this Note, after Payee, in accordance with Section 6 hereof, notifies Maker that the Loan has been accelerated (the “Final Maturity Date”). 

 3. Schedule of Repayment. Maker shall repay the principal amount of the Loan in four equal
quarterly installments, payable on September 30, 2005, December 31, 2005, March 31, 2006 and June 30, 2006. 
  
 4. Payments. Maker shall pay all Obligations in lawful money of the United States in immediately available funds, free and clear of, and without
deduction or offset for, any present or future taxes, levies, imposts, charges, withholdings, or liabilities with respect thereto; or any other defenses, offsets, set-offs, claims, counterclaims, credits, or deductions of any kind. Maker’s
obligations under this Note are completely independent of all circumstances whatsoever other than as expressly described in this Note and in Section 5.1.2 of the Amended and Restated Operating Agreement dated as of June 30, 2003 (the
“Operating Agreement”) among Maker, Payee and the other parties thereto. Any payment which is due hereunder on a day which is not a business day shall be paid on the immediately preceding business day, together with interest through
(but not including) the actual date of payment. Each payment under this Note shall first be credited against accrued and unpaid interest, and the remainder shall be credited against principal. Payments shall be made to Payee at the address for Payee
set forth in the signature page hereto or at such other place and/or bank account as may be specified from time to time by Payee in a written notice delivered to Maker. Subject to the provisions of the Operating Agreement, Maker may at any time in
whole or in part, without premium or penalty, prepay the outstanding principal amount of this Note plus all then accrued but unpaid interest thereon. 
  
 5. Usury Savings. Nothing in this Note shall require Maker to pay or permit Payee to collect from Maker interest exceeding the maximum amount
permitted by law in commercial loan transactions between parties of the character of the parties to this Note. Maker shall not be obligated to pay any interest in excess of such maximum amount. The interest payable under this Note by Maker shall in
no event exceed such maximum amount. 
  
 6. Default. In the
event of default in payment of this Note, Maker shall pay all costs of collection, including all costs and reasonable attorneys’ fees and expenses, whether or not suit is filed on this Note. Except to the extent prohibited by the terms of
Section 8 hereof, upon any default in the payment of interest on or principal of this Note, the Payee may accelerate the Obligations, which shall thereupon become immediately due and payable in full. 
  
 7. Overdue Rate. If any payment required by this Note becomes more
than five days overdue, then the Interest Rate shall, during the period of default, be 2% higher than the otherwise applicable rate. 
  
 8. Subordination. The “Terms of Subordination” set forth in Exhibit C (the “Terms of Subordination”) to the Amended and
Restated Term Loan Agreement dated as of July 11, 2003 among Maker, certain lenders party thereto, and General Electric Capital Corporation as agent for the lenders are hereby incorporated by reference. Maker and Payee acknowledge and agree that for
purposes of the Terms of Subordination (a) this Note shall be a “Designated Agreement” and (b) Payee shall be a “Subordinated Party”. 
  
 9. Notices. All notices, requests, instructions or consents required or permitted under this Note shall be in writing and will be deemed given: (a)
when delivered personally; (b) when sent by confirmed facsimile; (c) ten (10) business days after having been sent by registered or 

 
certified mail, return receipt requested, postage prepaid; or (d) three (3) business days after deposit with an internationally recognized commercial
overnight carrier specifying next-day delivery, with written verification of receipt. All communications will be sent to the addresses listed on the signature page hereto (or to such other address or facsimile number as may be designated by either
Maker or Payee by giving the other written notice pursuant to this Section 9). 
  
 10. Waivers. Maker and any endorsers and guarantors of this Note, and all others who may become liable for all or any part of the obligations evidenced by this Note, severally waive presentment for payment,
protest, notice of protest, dishonor, notice of dishonor, demand, notice of non-payment, and the benefit of all statutes, ordinances, judicial rulings, and other legal principles of any kind, now or hereafter enacted or in force, affording any right
of cure or any right to a stay of execution or extension of time for payment or exempting any property of such person from levy and sale upon execution of any judgment obtained by the holder in respect of this Note. THE PARTIES WAIVE JURY TRIAL IN
ANY ACTION TO ENFORCE OR INTERPRET, OR OTHERWISE ARISING FROM, THIS NOTE. 
  
 11. GOVERNING LAW. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, AS APPLIED TO AGREEMENTS AMONG CALIFORNIA RESIDENTS ENTERED INTO AND WHOLLY TO BE
PERFORMED WITHIN THE STATE OF CALIFORNIA (WITHOUT REFERENCE TO ANY CHOICE OR CONFLICTS OF LAWS RULES OR PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION). 
  
 12. Amendments and Waivers. This Note may not be modified or amended
and no waiver shall be effective unless such modification, amendment or waiver is in writing and executed by Maker and Payee. No failure or delay by Payee in exercising any right, power or privilege under this Note shall operate as a waiver thereof
nor shall any single or partial waiver or exercise thereof preclude the enforcement by Payee of any other right, power or privilege. 
  
 13. Assignment. Fujitsu Microelectronics Holding, Inc. may not assign its rights under this Note except as provided in, and to the extent permitted
by, Section 9.3 of the Operating Agreement and any purported assignment by such person in violation of the terms hereof shall be void ab initio. 
  
 14. Severability. If any provision in this Note is found or held to be invalid or unenforceable, then the meaning of said provision will be
construed, to the extent feasible, so as to render the provision enforceable, and if no feasible interpretation would save such provision, it will be severed from the remainder of this Note which will remain in full force and effect unless the
severed provision is essential and material to the rights or benefits received by the Payee. In such event, Maker and Payee shall use their respective best efforts to negotiate, in good faith, a substitute, valid and enforceable provision or
agreement which most nearly affects their intent in with respect to this Note. 

 15. Further Assurances. Maker shall execute, acknowledge, and deliver to Payee such additional
documentation as Payee shall reasonably require to further evidence and confirm Maker’s obligations under the Loan and this Note. 
  
 16. Dispute Resolution. Maker and, by accepting this Note, Payee each hereby agree that claims, disputes or controversies of whatever nature,
arising out of, in connection with, or in relation to the interpretation, performance or breach of this Note, shall be resolved in accordance with the dispute resolution procedures set forth in Schedule A to the Operating Agreement, which is
hereby incorporated by reference herein and shall be applied mutatis mutandis. 
  
 IN WITNESS WHEREOF, Maker by its duly authorized officer has executed this Promissory Note this 30th day of June, 2003. 
  

			
	FASL LLC
		
	By:	 	 /s/ Thomas M. McCoy

	 	 	 Name: Thomas M. McCoy

	 	 	 Title: Manager

  

			
	 Address:
	 	 FASL LLC
 One AMD Place M/S 150
 P.O. Box 3453
 Sunnyvale, California 94086
 U.S.A.

	 Facsimile:
	 	 (408) 774-7399Second Amendment to Amended and Restated Term Loan Agreement

 Exhibit 10.29 
  
 SECOND AMENDMENT TO AMENDED AND RESTATED TERM LOAN AGREEMENT 
  
 This SECOND AMENDMENT TO AMENDED AND RESTATED TERM LOAN AGREEMENT, dated as
of June 10, 2004 (this “Amendment”), is entered into by and among SPANSION LLC (f/k/a FASL LLC), a Delaware limited liability company (the “Borrower”), GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware
corporation, as agent for itself and the lenders from time to time signatory to the Loan Agreement (as defined below), as hereinafter defined (the “Lenders”) (in its capacity as agent for itself and the Lenders, together with its
successors or affiliates in such capacity, the “Agent”), and the Majority Lenders party hereto. 
  
 WHEREAS, the Borrower has entered into the Amended and Restated Term Loan Agreement, dated as of July 11, 2003 as amended by the First
Amendment to Amended and Restated Term Loan Agreement, dated as of March 29, 2004 (as further amended, amended and restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”), by and among the
Borrower, the Lenders and the Agent. 
  
 WHEREAS, the
Borrower seeks to amend certain provisions of the Loan Agreement. 
  
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

  
 Section 1. Definitions; Rules of Interpretation.
Capitalized terms used herein shall have the meanings assigned to them in the Loan Agreement, unless otherwise defined herein. 
  
 Section 2. Amendments. The Loan Agreement is hereby amended as follows: 
  
 (a) Section 1.1 of the Loan Agreement is hereby amended by deleting each of the definitions of
“Domestic Cash”, “Net Domestic Cash”, and “Target Cash Level” in its entirety. 
  
 (b) The definition of “Target Worldwide Cash Level” in Section 1.1 of the Loan Agreement is amended and restated as
follows: 
  
 “Target Worldwide Cash Level”
means, for any period, the applicable cash level set forth below for such period: 

				
	 Period

	  	Amount

	 Second quarter of Fiscal Year 2005
	  	$	37,250,000
	 Third quarter of Fiscal Year 2005
	  	$	30,375,000
	 Fourth quarter of Fiscal Year 2005
	  	$	23,500,000
	 First quarter of Fiscal Year 2006
	  	$	16,625,000
	 Second quarter of Fiscal Year 2006
	  	$	9,750,000

  
 (c)
The definition of “Enhanced Covenant Period” in Section 1.1 of the Loan Agreement is amended and restated as follows: 
  
 “Enhanced Covenant Period” means, for each fiscal quarter of each Fiscal Year, at any time Net Worldwide Cash is less than the Target
Worldwide Cash Level as measured on the last day of the prior fiscal quarter. 
  
 (d) Section 7.2 of the Loan Agreement is hereby amended by deleting the text in clauses (b) and (d) and inserting the words “Intentionally Omitted”. 
  
 (e) Section 7.2(f) of the Loan Agreement is amended and
restated in its entirety as follows: 
  
 (f) No
later than ninety (90) days after the beginning of each Fiscal Year, annual forecasts (to include forecasted consolidated and consolidating balance sheets, statements of income and expenses and statements of cash flow) for the Borrower and its
Subsidiaries as at the end of and for each month of such Fiscal Year. 
  
 (f) Section 9.19 of the Loan Agreement is amended and restated in its entirety as follows: 
  
 9.19 Adjusted Tangible Net Worth. At any time that Net Worldwide Cash is less than the Target Worldwide Cash Level, the Borrower
will maintain Adjusted Tangible Net Worth, determined as of the last day of each fiscal quarter, of not less than $850,000,000. 
  
 (g) The first sentence of Section 9.20 of the Loan Agreement is amended and restated in its entirety as follows: 
  
 9.20 EBITDA. At any time that Net Worldwide Cash is
less than the Target Worldwide Cash Level, the Borrower will maintain EBITDA as of the last 

 
day of each fiscal period set forth below of not less than the amount set forth below opposite such fiscal period: 
  
 (h) Section 9.21 of the Loan Agreement is amended and
restated in its entirety as follows: 
  
 Section 9.21 Fixed Charge Coverage Ratio. At any time that Net Worldwide Cash is less than the Target Worldwide Cash Level, the Borrower shall not permit, as of the last day of any fiscal quarter, the ratio of (a) EBITDA
for the period of the last four fiscal quarters ended on such date to (b) the sum of (i) interest expense for such period plus (ii) scheduled amortization of Debt For Borrowed Money for such period plus
(iii) Capital Expenditures for such period, in each case, of the Borrower and its Subsidiaries, as determined on a consolidated basis in accordance with GAAP, to be less than (1) –0.6 to 1.00 for the third fiscal quarter of 2003,
(2) 0.2 to 1.00 for the fourth fiscal quarter of 2003, (3) 0.25 to 1.00 for the first fiscal quarter of 2004, (4) 0.4 to 1.0 for the period ending June 2004, (5) 0.8 to 1.00 for the period ending September 2004, (6) 1.0 to
1.00 for the period ending December 2004, (7) 1.0 to 1.00 for the full fiscal year 2005, and (8) 0.9 to 1.00 for the full fiscal year 2006. 
  
 Section 3. Conditions to Effectiveness. This Amendment shall become effective upon the satisfaction of all of the following conditions precedent
(the date of satisfaction of such conditions being referred to as the “Amendment Effective Date”): 
  
 (a) Delivery to the Agent of this Amendment, duly executed and delivered by the Borrower and the Lenders constituting the Majority
Lenders. 
  
 (b) The representations and
warranties set forth in Section 4 of this Amendment shall be true and correct as of the Amendment Effective Date. 
  
 (c) The representations and warranties of the Borrower as set forth in the Loan Agreement shall be true and correct in all material
respects as of the Amendment Effective Date after giving effect to the amendments contemplated hereby (unless stated to be given as of an earlier date, in which case such representation and warranty shall be true and correct only as of such earlier
date); and 
  
 (d) As of the Amendment Effective
Date, no Event of Default or Default shall have occurred and be continuing after giving effect to this Amendment. 
  
 Section 4. The Borrower’s Representations and Warranties. The Borrower represents and warrants to the Agent and each Lender a party hereto as
of the date hereof and as of the Amendment Effective Date as follows: 
  
 (a) The Borrower has all requisite limited liability company power and authority to enter, execute, deliver and perform this Amendment. 

 (b) The execution and delivery of this Amendment have been duly authorized by all
necessary limited liability company action of the Borrower and has been duly executed and delivered by the Borrower. 
  
 (c) As of the Amendment Effective Date, no Event of Default or Default shall have occurred and be continuing after giving effect to this
Amendment. 
  
 Section 5. Reference to and Effect on the Loan
Agreement and the other Loan Documents. 
  
 (a) The Loan Agreement and the other Loan Documents are subject to amendments only under the express provisions of Section 2 and shall, as so modified, continue to be in full force and effect and are hereby ratified and
confirmed by the Borrower in all respects. Each other Loan Document is and shall continue to be in full force and effect and is hereby ratified and confirmed by the Borrower in all respects. 
  
 (b) This Amendment shall be construed as one with the Loan
Agreement and the other Loan Documents, and the Loan Agreement and the other Loan Documents shall, where the context requires, be read and construed throughout so as to incorporate this Amendment. 
  
 Section 6. Execution in Counterparts; Effectiveness. This Amendment
may be executed in any number of counterparts, and by the Agent, each Lender and the Borrower in separate counterparts, each of which shall be an original, but all of which shall together constitute one and the same agreement; signature pages may be
detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
  
 Section 7. Headings. The headings contained in this Amendment are for convenience of reference only, are without substantive meaning and should not
be construed to modify, enlarge, or restrict any provision. 
  
 Section 8. Severability. The illegality or unenforceability of any provision of this Amendment or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining
provisions of this Amendment or any instrument or agreement required hereunder. 
  
 Section 9. Governing Law. THIS AMENDMENT, AND ANY INSTRUMENT OR AGREEMENT REQUIRED HEREUNDER (TO THE EXTENT NOT EXPRESSLY PROVIDED FOR THEREIN), SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 
  
  
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

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

					
	SPANSION LLC (f/k/a FASL LLC), a Delaware limited liability company
		
	By:	 	/s/ Steven J. Geiser
	 	 	Name:	 	Steven J. Geiser
	 	 	Title:	 	Chief Financial Officer
	
	 LENDERS
  
 GENERAL ELECTRIC CAPITAL CORPORATION, as the Agent for the Lenders and as a Lender

		
	By:	 	/s/ Rakesh Mital
	 	 	Name:	 	Rakesh Mital
	 	 	Title:	 	Chief Risk Officer
	
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	/s/ John McNamara
	 	 	Name:	 	John McNamara
	 	 	Title:	 	Vice President
	
	MERRILL LYNCH CAPITAL, a Division of Merrill Lynch Business Financial Services Inc., as a Lender
		
	By:	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 

					
	 ACKNOWLEDGED AND AGREED
 TO BY EACH OF THE UNDERSIGNED
 FOR PURPOSES OF THEIR RESPECTIVE
 GUARANTY DATED AS OF JULY 11, 2003
  
 ADVANCED MICRO DEVICES, INC.

		
	By:	 	/s/ Caye Hursey
	 	 	Name:	 	Caye Hursey
	 	 	Title:	 	Treasurer
	
	FUJITSU LIMITED
		
	By:	 	 
	 	 	Name:	 	 
	 	 	Title:

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