Document:

ucc3q10ex105_8.htm

 

	 EXHIBIT 10.5.8
	
 Union Carbide Corporation and Subsidiaries

 

 

EIGHTH AMENDMENT TO THE

AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

This Eighth Amendment to the Amended and Restated Revolving Credit Agreement (this “Amendment”) is made effective as of September 30, 2010 and is entered into among Union Carbide Corporation, as Borrower (“Borrower”), The Dow Chemical Company, as Lender (“Lender”) and Union Carbide Subsidiary C, Inc. and Union Carbide Chemicals & Plastics Technology LLC as the Subsidiary Guarantors (the “Subsidiary Guarantors”) (together, the “Parties”).

BACKGROUND

The parties have entered into the Amended and Restated Revolving Credit Agreement dated as of May 28, 2004, as amended by the First Amendment to the Amended and Restated Revolving Credit Agreement dated October 29, 2004, the Second Amendment to the Amended and Restated Revolving Credit Agreement dated December 30, 2004, the Third Amendment to the Amended and Restated Revolving Credit Agreement dated September 30, 2005, the Fourth Amendment to the Amended and Restated Revolving Credit Agreement dated September 30, 2006, the Fifth Amendment to the Amended and Restated Revolving Credit Agreement dated September 30, 2007, the Sixth Amendment to the Amended and Restated Revolving Credit Agreement dated September 30, 2008, and the Seventh Amendment to the Amended and Restated Revolving Credit Agreement dated September 30, 2009 (the “Credit Agreement”).

The Parties desire to amend the Credit Agreement according to the terms in this Amendment. Any capitalized terms used in this Amendment, but not otherwise defined in this Amendment, are as defined in the Credit Agreement.

THE AGREEMENT

	
1.

	
Amendment to Section 1.1.  The Parties agree to amend Section 1.1 of the Credit Agreement by Replacing the definition of “Scheduled Termination Date” with the following definition:

 

“Scheduled Termination Date” means December 30, 2011.

 

	
2.

	
No Other Amendment or Waiver. Except as expressly amended by this Amendment, the Credit Agreement and all other Loan Documents remain in full force and effect in accordance with their terms, and the Parties ratify and confirm the Credit Agreement and all other Loan Documents in all respects.

 

	
3.

	
Execution in Counterparts. This amendment may be executed in any number of counterparts and and by different parties in separate counterparts, each of which when so executed will be deemed to be an original and all of which taken together will 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 attached to the same document.

 

	
4.

	
Governing Law. This Amendment and the rights and obligation of the Parties to this Amendment will be governed by, and construed and interpreted in accordance with, the law of the State of New York.

 

	
5.

	
Subsidiary Guarantors.  The Guarantors to this Agreement will only be bound by their guarantees if they remain a wholly owned subsidiary of the Borrower.

 

  

25

  

 

The Parties agree that this Amendment is effective as of September 30, 2010, and they have caused their authorized representatives to execute this Amendment below.

	
LENDER:

	
SUBSIDIARY GUARANTORS:

 

	
THE DOW CHEMICAL COMPANY

 

 

By: /s/ FERNANDO RUIZ                

Name:         Fernando Ruiz

Title:           Corporate Vice President and Treasurer

	
UNION CARBIDE SUBSIDIARY C, INC.

 

 

By: /s/ MICHAEL L. GLENN            

Name:  Michael L. Glenn

Title:    Secretary

	
BORROWER:

	  
	
 

UNION CARBIDE CORPORATION

 

By: /s/ EUDIO GIL                            

Name:     Eudio Gil

Title:       Chief Financial Officer, Vice President, and

                Treasurer

	
UNION CARBIDE CHEMICALS & PLASTICS TECHNOLOGY LLC

 

 

By: /s/ MARK A WHITEMAN        

Name:  Mark A. Whiteman

Title:    Vice President

 

  

26ucc3q10ex107_3.htm

 

 

	 EXHIBIT 10.7.3
	
 Union Carbide Corporation and Subsidiaries

 

 

Third Amendment to Second Amended and Restated Revolving Loan Agreement

This Third Amendment to the Second Amended and Restated Revolving Loan Agreement (the “Amendment”), dated as of December 31, 2007, is entered into by and between Union Carbide Corporation, a New York corporation (the “Lender”) and The Dow Chemical Company, a Delaware corporation (the “Borrower”) effective as of February 1, 2010.

WHEREAS, the Lender and the Borrower are parties to the Second Amended and Restated Revolving Loan Agreement dated as of November 1, 2005 and amended by the First Amendment dated the 31st day of December 2007 (the “Loan Agreement”);

WHEREAS, the Lender and the Borrower wish to change a component of the Interest Rate, as defined in the Loan Agreement and as contemplated herein;

NOW, THEREFORE, in view of the following terms and conditions and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

To delete the current Definition 1.14 “TDCC Refinance Rate” in the Loan Agreement and replace it with the following:

	
  

	
1.

	
“TDCC Reference Rate” means the interest rate established for intercompany financing transactions by the Corporate Treasury Department of The Dow Chemical Company (Borrower).  This rate is set to LIBOR plus 105 basis points as of the effective date of this Amendment, any future changes to this rate will be effective if agreed between the Lender and the Borrower in writing.”

	
  

	
2.

	
No Other Amendment or Waiver.  Except as expressly amended by this Amendment, the Loan Agreement remains in full force and effect in accordance with its terms.

	
  

	
3.

	
Execution in Counterparts.  This Amendment may be executed in any number of counterparts, each of which when so executed will be deemed to be an original and all of which taken together will 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 attached to the same document.

	
  

	
4.

	
Governing Law.  This Amendment and the rights and obligations of the parties to this Amendment will be governed by and construed and interpreted in accordance with the laws of the State of New York.

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed by their duly authorized representatives.

	  	
THE DOW CHEMICAL COMPANY

 

 

By: /s/ ANDREAS UNTERSTE           

Name:    Andreas Unterste

Title:      Director of Financial Operations, Compliance

               and Technology

	
UNION CARBIDE CORPORATION

 

 

By: /s/ EUDIO GIL                

Name:   Eudio Gil

Title:     Chief Financial Officer, Vice President

              and Treasurer

 

  

27ucc3q10ex107_4.htm

 

	 EXHIBIT 10.7.4
	
 Union Carbide Corporation and Subsidiaries

 

 

Fourth Amendment to Second Amended and Restated Revolving Loan Agreement

This Fourth Amendment to the Second Amended and Restated Revolving Loan Agreement (the “Amendment”), dated as of December 31, 2007, is entered into by and between Union Carbide Corporation, a New York corporation (the “Lender”) and The Dow Chemical Company, a Delaware corporation (the “Borrower”) effective as of August 1, 2010.

WHEREAS, the Lender and the Borrower are parties to the Second Amended and Restated Revolving Loan Agreement dated as of November 1, 2005 and amended by the First Amendment dated the 31st day of December 2007 (the “Loan Agreement”);

WHEREAS, the Lender and the Borrower wish to change a component of the Interest Rate, as defined in the Loan Agreement and as contemplated herein;

NOW, THEREFORE, in view of the following terms and conditions and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

	
  

	
1.

	
To delete the current Definition 1.14 “TDCC Refinance Rate” in the Loan Agreement and replace it with the following:

 

“TDCC Reference Rate” means the interest rate established for intercompany financing transactions by the Corporate Treasury Department of The Dow Chemical Company (Borrower).  This rate is set to LIBOR plus 90 basis points as of the effective date of this Amendment, any future changes to this rate will be effective if agreed between the Lender and the Borrower in writing.”

 

	
  

	
2.

	
No Other Amendment or Waiver.  Except as expressly amended by this Amendment, the Loan Agreement remains in full force and effect in accordance with its terms.

	
  

	
3.

	
Execution in Counterparts.  This Amendment may be executed in any number of counterparts, each of which when so executed will be deemed to be an original and all of which taken together will 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 attached to the same document.

	
  

	
4.

	
Governing Law.  This Amendment and the rights and obligations of the parties to this Amendment will be governed by and construed and interpreted in accordance with the laws of the State of New York.

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed by their duly authorized representatives.

	  	
THE DOW CHEMICAL COMPANY

 

 

By: /s/ ANDREAS UNTERSTE           

Name:    Andreas Unterste

Title:      Director of Financial Operations, Compliance

               and Technology

	
UNION CARBIDE CORPORATION

 

 

By: /s/ EUDIO GIL                

Name:    Eudio Gil

Title:      Chief Financial Officer, Vice President

               and Treasurer

 

  

28

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