Document:

2012 Q4 Ex 10-121

EXHIBIT 10.121

HSBC Bank USA, National Association
452 Fifth Avenue, 10018
Tel: 02079919151    Fax: 020 7992 4493

	
		
	To:
	MICRON TECHNOLOGY INC

	Attn:
	Rob Brown

	Email:
	Rlbrown@micron.com

	Date:
	11th July 2012

	Ref :
	8878658 / 578383

GEARED SEAGULL CONFIRMATION

Dear Sir or Madam:

The purpose of this letter agreement (a "Confirmation") is to confirm the terms and conditions of  the  Transaction  entered  into  on  the  Trade  Date  specified  below  (the  "Transaction") between HSBC Bank USA, National Association ("Party A") and MICRON TECHNOLOGY INC ("Party B"). This communication constitutes a "Confirmation" as referred to in the Agreement specified below.

The definitions and provisions contained in the 2006 Definitions and the 1998 FX and Currency Option Definitions (the "FX Definitions") (as published by the International Swaps and  Derivatives  Association,  Inc.,  the  Emerging  Markets  Traders  Association  and  The Foreign Exchange Committee) are incorporated into this Confirmation. In the event of any inconsistency between the FX Definitions and the 2006 Definitions, the FX Definitions will prevail. In the event of any inconsistency between the FX Definitions or the 2006 Definitions and this Confirmation, this Confirmation will prevail.

If you and we are parties to either an ISDA Interest Rate and Currency Exchange Agreement (for which purpose this Transaction shall constitute a "Swap Transaction") or an ISDA Master Agreement (in each case as "Agreement") then this Confirmation supplements forms part of and is subject to such agreement. If you and we are not yet parties to an Agreement then this Confirmation evidences a complete and binding agreement between both parties as to the terms of the Transaction to which this Confirmation relates. In addition Party A and Party B agree to use all reasonable efforts promptly to negotiate, execute and deliver an agreement in the form of the ISDA Master Agreement (Multicurrency-Cross Border) (the "ISDA Form") with such modifications as you and we will in good faith agree. Upon execution by both Party A and Party B of such an agreement, this Confirmation will supplement, form part of, and be subject to that agreement. All provisions contained or incorporated by reference in that agreement upon its execution will govern this Confirmation. Until we execute and deliver that agreement, this Confirmation, together with all other documents referring to the ISDA Form (each a "Confirmation") confirming transactions (each a "Transaction") entered into between us (notwithstanding anything to the contrary in a Confirmation) shall supplement, form a part of, and be subject to an agreement in the form of the ISDA Form as if we had executed an agreement to the Trade Date of the first such Transaction between us in such form with the Schedule thereto (i) specifying only that (a) the governing laws of the State of New York and the Termination Currency is U.S. Dollars. In the event of any inconsistencies between this Confirmation and the provisions of that agreement, this confirmation shall prevail for the purpose of this Transaction.

Each of Party A and Party B represents to the other that it has entered into this Transaction in reliance upon such tax, accounting, regulatory, legal, and financial advice as it deems necessary and not upon any view expressed by the other.

The terms of the Transaction to which this Confirmation relates are as follows:

	
		
	Trade Date:
	02 July 2012

	 
	 

	Calculation Agent:
	Party A, whose determinations in respect of this Transaction shall be conclusive and binding save for manifest error and who shall also determine whether the applicable Spot Rate has traded at or above the Forward Rate, or below the Forward Rate.

	 
	 

	Notional Currency and Amount (i):
	JPY 60,000,000,000.00

	 
	 

	Notional Currency and Amount (ii):
	JPY 30,000,000,000.00

	 
	 

	Reference Currency:
	USD, in accordance with the Settlement Terms

	 
	 

	Strike Rate:
	Either

	 
	(i).79.2000 being the currency exchange rate, expressed as the amount of JPY per one unit of USD; or

	 
	(ii).83.3200 being the currency exchange rate, expressed as the amount of JPY per one unit of USD

	 
	(iii).75.5700  being the currency exchange rate, expressed as the amount of JPY per one unit of USD

	 
	 

	Limit Rate:
	75.5700 being the currency exchange rate, expressed as the amount of JPY per one unit of USD; in accordance with the Settlement Terms.

	Limit Event Period:
	From Trade Time on Trade Date up to, and including, Expiration Time on Expiration Date.

	Expiration Time:
	10:00am New York

	 
	 

	Expiration Date:
	03April 2013

	 
	 

	Settlement Date:
	05 April 2013

	 
	 

	Premium Amount:
	JPY 14,933,574.00

	 
	 

	Premium Payer:
	Party B

	 
	 

	Premium Payment Date:
	05 April 2013

	
				
	Settlement Terms:
	 
	 
	(i) If the Spot Exchange Rate is at or below 79.2000
JPY/USD at the Expiration Time on the Expiration
Date, Party A shall pay the Notional Currency and Amount (i) to Party B in Exchange for an amount in the Reference Currency by applying Strike Rate (i) on the Settlement Date.

(ii) If the Spot Exchange Rate at Expiration Time on Expiration Date is at or above 83.3200 JPY/USD at the Expiration Time on the Expiration Date, Party A shall pay the Notional Currency and Amount (ii) in Exchange for an amount in the Reference Currency by applying Strike Rate (ii) on the Settlement Date.

(iii) If a Limit Event has occurred and the Spot Rate is below 75.5700 JPY/USD at the Expiration Time on the Expiration Date, Party A shall pay the Notional Currency and Amount (ii), in exchange for an amount in the Reference Currency, calculated as follows:

(Notional amount (i) / Strike Rate (i)) - (Notional amount (ii) / Limit Rate)

	Type of Order
	:
	at Market
	 

	Venue Identification
	:
	HSBC Bank USA, National Association
452 Fifth Avenue, 10018

The time that this transaction was effected can be supplied upon request. We have effected this transaction as principal.

Definitions

The definitions and other terms below apply to the Transaction. In the event of any inconsistency between this Confirmation and the terms of the Agreement, this Confirmation shall prevail.

“Limit Event” shall be treated as having occurred in relation to the Seagull Transaction if the Spot Exchange Rate during the Limit Event Period has been at or below the Limit Rate as determined by the Calculation Agent. All determinations of the Calculation Agent shall be made in good faith and in a commercially reasonable manner.

"Spot Exchange Rate" Is the price at the time at which such price is to be determined in the Spot Market for foreign exchange transactions involving the currency pair which is the subject of this Transaction determined by reference either to rates for the exchange of currencies in such currency pair or to cross-rates as the Calculation Agent shall determine acting in good faith and in a commercially reasonable manner.

“Spot Market” means, the Global Spot Foreign Exchange Market, which, for these purposes, shall, unless otherwise agreed, be treated as being open continuously from 5:00 a.m. Sydney time on a Monday in any week to 5:00 p.m. New York time on the Friday of that week.

Withholding Tax

All payments to be made by either Party pursuant to or in connection with this transaction or the Agreement shall be made free and clear of and without deduction or withholding for or on account of tax (which term shall for the purposes hereof include any tax, levy, impost, duty, charge, fee deduction or withholding of any nature) unless a Party (the "Payer") is required by applicable law to make a payment (the "Relevant Payment") subject to the deduction or withholding of tax, in which case the sum of the Relevant Payment shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding, the Party receiving the Relevant Payment (the "Payee") receives and retains (free from any liability in respect of such deductions or withholding) a net sum equal to the sum which it would have received and retained had no such deduction or withholding been made or required to be made.

If and to the extent that the Payer's obligation to pay an increased sum as aforesaid can be mitigated by virtue of the provisions of any applicable double tax convention, the Payee shall use its reasonable endeavours (including, without limitation, the submission to the relevant fiscal authorities of all requisite forms and information) to ensure the application of such double tax convention.

Representations and Warranties

Absent a written agreement to the contrary, each party represents and warrants to the other party that (i) it is not relying on any advice (whether written or oral) of the other party regarding this Transaction; (ii) it has the capacity to evaluate (internally or through independent professional advice) this Transaction and has made its own decision to enter into this Transaction; (iii) it understands the terms, conditions and risks of this Transaction and is willing to accept those terms and conditions and to assume (financially or otherwise) those risks; and (iv) the other party (1) is not acting as a fiduciary or financial, investment or commodity trading advisor for it, (2) has not given to it (directly or indirectly through any other person) any assurance, guaranty, or representation whatsoever as to the merits (either legal, regulatory, tax, financial, accounting or otherwise) of this Transaction or any documentation  related  thereto,  and  (3)  has  not  committed  to  unwind  this  Transaction.

Disclosure

The Parties acknowledge that HSBC Bank USA, National Association is regularly engaged in the business of buying and selling foreign exchange spot, forward and options contracts and, as  a  result,  HSBC  Bank  USA,  National  Association  may  from  time  to  time  engage  in activities in the foreign exchange markets which may affect the value of this transaction. It is further acknowledged that HSBC Bank USA, National Association, for its own risk management purposes, may from time to time enter into foreign exchange contracts which it deems necessary to hedge (or to reduce or remove any hedge) risks related to this transaction. In particular, the Parties acknowledge that as a result of such risk management activities, whenever it becomes reasonably likely that the Spot Exchange Rate may be less than or equal to the Strike Rate, in anticipation of such probability HSBC Bank USA, National Association may  engage  in  transactions  to  hedge  (or  to  reduce  or  remove  hedges)  and  that  such transactions may increase the probability that the Spot Exchange Rate will be less than or equal to the Strike Rate.

Documentation

Please confirm the forgoing correctly confirms the terms of our agreement by executing a copy of this Confirmation enclosed for that purpose and returning it to us or by sending to us a letter of facsimile substantially similar to this letter, which letter or facsimile sets forth the material terms of the Transaction to which this Confirmation relates and indicates your agreement to those terms.

Yours faithfully,

/s/ Luke Cunningham

Duly authorised for and on behalf of
HSBC Bank USA, National Association

	
		
	Name:
	HSBC Bank USA, N.A.

	Title:

	Duly authorised for and on behalf of

	MICRON TECHNOLOGY INC

	By:
	/s/ Anne Miller

	Name:
	Anne Miller

	Title
	Senior Manager, Worldwide Treasury Operations

	Trade Ref:
	8878658 / 578383Exhibit 10.1 Third Amendment to Mortgage Warehousing Agreement with Comerica

THIRD AMENDMENT TO MORTGAGE WAREHOUSING AGREEMENT
This Third Amendment to Mortgage Warehousing Agreement (“Third Amendment”) to Mortgage Warehousing Agreement is made as of September 26, 2012, by and among M/I Financial Corp. (“Borrower”), the Lenders (as defined below) and Comerica Bank, as administrative agent for the Lenders (in such capacity, the “Agent”).
RECITALS
A.    Borrower entered into that certain Mortgage Warehousing Agreement (as amended, restated or otherwise modified from time to time, the “Mortgage Warehousing Agreement”) dated April 18, 2011, by and among the financial institutions from time to time signatory thereto (each, individually, a “Lender,” and any and all such financial institutions collectively the “Lenders”), Agent and Borrower.
B.    Borrower has requested that Agent and the Lenders make certain amendments to the Mortgage Warehousing Agreement and Agent and the Lenders are willing to do so, but only on the terms and conditions set forth in this Third Amendment.
NOW, THEREFORE, in consideration of the Recitals and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Borrower, Agent and Lenders agree as follows:
1.    Section 1.1 of the Mortgage Warehousing Agreement is amended to add the following definitions: 
“Change in Law” shall mean the occurrence, after the Effective Date, of any of the following: (i) the adoption or introduction of, or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not applicable to any Lender or Agent on such date, or (ii) any change in interpretation, administration or implementation of any such law, treaty, rule or regulation by any Governmental Authority, or (iii) the issuance, making or implementation by any Governmental Authority of any interpretation, administration, request, regulation, guideline, or directive (whether or not having the force of law), including any risk-based capital guidelines.  For purposes of this definition, (x) a change in law, treaty, rule, regulation, interpretation, administration or implementation shall include, without limitation, any change made or which becomes effective on the basis of a law, treaty, rule, regulation, interpretation administration or implementation then in force, the effective date of which change is delayed by the terms of such law, treaty, rule, regulation, interpretation, administration or implementation, (y) the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203, H.R. 4173) and all requests, rules, regulations, guidelines, interpretations or directives promulgated thereunder or issued in connection therewith shall be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or promulgated, and (z) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall each be deemed to be a "Change in Law", regardless of the date enacted, adopted, issued or implemented. 
“Governmental Authority” shall mean the government of the United States of America or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including without limitation any supranational bodies such as the European Union or the European Central Bank).
		
	2.
	Section 6.1(e)(ii) of the Mortgage Warehousing Agreement is amended and restated in its entirety as follows:

“(ii) the aggregate principal amount of all such Funded Debt (such amounts to include the aggregate commitments applicable to such Funded Debt) at any one time outstanding plus the Revolving Credit Aggregate Commitment hereunder, shall not exceed $100,000,000;”
		
	3.
	Section 9.3 of the Mortgage Warehousing Agreement is amended to delete the words:

“If, after the date of this Agreement, the adoption or introduction of, or any change in, any applicable law, rule or regulation or in the interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by any of the Lenders (or any of their respective LIBOR Lending Offices) with any request or directive (whether or not having the force of law) of any such authority, central bank or comparable agency” 
and replace them with:
“If any Change in Law”
		
	4.
	Section 9.4(a) of the Mortgage Warehousing Agreement is amended to delete the words:

“(a)    If, after the Effective Date, the adoption or introduction of, or any change in any applicable law, treaty, rule or regulation (whether domestic or foreign) now or hereafter in effect and whether or not presently applicable to any Lender or Agent, or any interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof, or compliance by any Lender or Agent with any guideline, request or directive of any such authority (whether or not having the force of law), including any risk based capital guidelines”
and replace them with:
“If any Change in Law”
		
	5.
	Section 9.4(b) of the Mortgage Warehousing Agreement is amended and restated in its entirety as follows:

“(b)    Notwithstanding the foregoing, however, Borrower shall not be required to pay any increased costs under Sections 9.3 or 9.4 for any period ending prior to the date that is 180 days prior to the making of a Lender’s initial request for such additional amounts (provided that this provision will not apply to any increased costs resulting from a Change in Law of the type referred to in clauses (x), (y) or (z) of the definition thereof),  unless the applicable Change in Law is effective retroactively to a date more than 180 days prior to the date of such request, in which case a Lender’s request for such additional amounts relating to the period more than 180 days prior to the making of the request must be given not more than 180 days after such Lender becomes aware of the applicable Change in Law resulting in such increased costs.”

		
	6.
	This Third Amendment shall become effective (according to the terms hereof) on the date (the “Third Amendment Effective Date”) that the following conditions have been fully satisfied:

		
	(a)
	Agent shall have received via facsimile or other form of electronic delivery (followed by the prompt delivery of original signatures) counterpart originals of this Third Amendment, in each case duly executed and delivered by the Agent, Borrower and the Lenders.

		
	(b)
	Borrower shall have paid to the Agent all fees or amounts, if any, that are due and owing to the Agent as of the Third Amendment Effective Date.

		
	7.
	Borrower and each of the undersigned hereby represents and warrants that, after giving effect to the amendments to the Mortgage Warehousing Agreement contained herein, (a) the execution and delivery of this Third Amendment are within such party’s corporate powers, have been duly authorized, are not in contravention of law or the terms of its organizational documents, and except as have been previously obtained do not require the consent or approval, material to the amendments contemplated in this Third Amendment, of any governmental body, agency or authority, and this Third Amendment and the Mortgage Warehousing Agreement (as amended herein) will constitute the valid and binding obligations of such undersigned party, enforceable in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity (whether enforcement is sought in a proceeding in equity or at law), (b) the representations and warranties set forth in Article 4 of the Mortgage Warehousing Agreement are true and correct in all material respects on and as of the date hereof (other than any representation or warranty that expressly speaks only as of a certain date), and (c) as of the Third Amendment Effective Date, no Default or Event of Default shall have occurred and be continuing.

		
	8.
	Borrower and Lenders each hereby ratify and confirm their respective obligations under the Mortgage Warehousing Agreement, as amended by this Third Amendment and agree that the Mortgage Warehousing Agreement hereby remains in full force and effect after giving effect to this Third Amendment and that, upon such effectiveness, all references in such Loan Documents to the “Mortgage Warehousing Agreement” shall be references to the Mortgage Warehousing Agreement as amended by this Third Amendment.

		
	9.
	Except as specifically set forth above, this Third Amendment shall not be deemed to amend or alter in any respect the terms and conditions of the Mortgage Warehousing Agreement or any of the Notes issued thereunder, or to constitute a waiver by the Lenders or Agent of any right or remedy under or a consent to any transaction not meeting the terms and conditions of the Mortgage Warehousing Agreement, any of the Notes issued thereunder or any of the other Loan Documents.

		
	10.
	Unless otherwise defined to the contrary herein, all capitalized terms used in this Third Amendment shall have the meaning set forth in the Mortgage Warehousing Agreement.

		
	11.
	This Third Amendment may be executed in counterpart in accordance with Section 11.9 of the Mortgage Warehousing Agreement.

		
	12.
	This Third Amendment shall be construed in accordance with and governed by the laws of the State of Michigan, without giving effect to principles of conflict of laws. 

		
	13.
	As a condition of the above amendments and waiver, Borrower waives, discharges, and forever releases Agent, Lenders and their respective employees, officers, directors, attorneys, stockholders and successors and assigns, from and of any and all claims, causes of action, allegations or assertions known to Borrower that Borrower has or may have had at any time up through, and including, the date of this Third Amendment, against any or all of the foregoing in connection with the Mortgage Warehousing Agreement, including the Third Amendment thereto regardless of whether any such claims, causes of action, allegations or assertions arose as a result of Agent’s or such Lender’s actions or omissions.  

[remainder of page intentionally left blank]
IN WITNESS WHEREOF, Borrower, the Lenders and Agent have each caused this Third Amendment to be executed by their respective duly authorized officers or agents, as applicable, all as of the date first set forth above.
M/I FINANCIAL CORP. 

By:                          
Name:                      
Title:                          

COMERICA BANK, as Agent and a Lender

By:                          
Name:                      
Title:                          

THE HUNTINGTON NATIONAL BANK, as a Lender

By:                          
Name:                      
Title:                          

Detroit_1221044_3

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