Document:

amendmentno2totermloan

                                                                     Exhibit 10.1                                                                   Execution Copy                                AMENDMENT NO. 2 TO                         TERM LOAN CREDIT AGREEMENT               THIS AMENDMENT NO. 2  TO TERM LOAN CREDIT AGREEMENT (this  “Amendment”) is being executed and delivered as of May 29, 2018 by and among Global Brass   and Copper, Inc. (the “Borrower”),  Global Brass and Copper Holdings, Inc. (“Holdings”), the   other Loan  Parties party  hereto,  JPMorgan Chase Bank, N.A.  (“JPMCB”), as administrative  agent (in such capacity, the “Administrative Agent”) under the below-defined Credit Agreement,   and the  Lenders  party to the Credit  Agreement.  All capitalized terms  used herein without   definition shall have the same meanings as set forth in the below-defined Credit Agreement.                                  W I T N E S S E T H:                WHEREAS, the Borrower, Holdings, certain of the Loan Parties, the Lenders, and   the Administrative Agent are party to that certain Term Loan Credit Agreement, dated as of July   18, 2016 (as amended, restated, supplemented or otherwise modified from time to time prior to  the  date hereof,  the “Existing Credit Agreement”, and as amended hereby, the “Credit   Agreement”);               WHEREAS,  the   Loan  Parties have requested that the Lenders and  the   Administrative Agent amend the Existing Credit Agreement in certain respects; and                WHEREAS, the Lenders and the Administrative Agent have agreed  to amend the   Existing Credit Agreement on the terms and conditions set forth herein.               NOW, THEREFORE, in consideration of the  foregoing  premises, the terms and  conditions stated herein and other valuable  consideration, the receipt and sufficiency of which  are hereby acknowledged by the parties hereto, such parties hereby agree as follows:               1.     Amendment.   Subject to the satisfaction of the conditions precedent set forth in Section 2 below, the Existing Credit Agreement is hereby amended to read as set forth in   Exhibit A hereto.                2.    Condition of Effectiveness.  The effectiveness of this Amendment is subject to the following conditions precedent:               (a)    the Administrative Agent shall have  received counterparts of this  Amendment duly  executed by the Loan Parties and the Lenders required to execute  and deliver   this Amendment in order to give effect hereto;                 (b)   the  Administrative Agent shall have received those agreements, documents, instruments and other deliverables appearing in Exhibit B hereto;                (c)  the Administrative Agent shall have received for  the benefit of each  Lender approving this Amendment  No. 2 all fees due and payable to such Lender described in  that certain Amendment No. 2 Fee Letter (Term Loan B Facility), dated as of May 29, 2018,   between  the  Borrower  and  JPMCB,  with  such  approval  being  evidenced  by  such  Lender  by  

 

consenting online via “LendAmend” or such Lender’s delivery to the Administrative Agent of its  properly executed signature page hereto, in each case no later than 5:00 p.m. New York time on  May  23,  2018  (as  such  delivery  or  consent  via  “LendAmend”  shall  be  determined  by  the  Administrative Agent in its sole discretion); and               (d)   all  of  JPMCB’s  and  the  Administrative  Agent’s  reasonable  and documented accrued costs, fees and out-of-pocket expenses through the date hereof, in each case  owing by any Loan Party to the Administrative Agent or JPMCB, shall have been fully paid.               3.    Representation  and  Warranties.   Each  Loan  Party  hereby  represents  and warrants  that  (i)  this  Amendment  and  the  Existing  Credit  Agreement  as  amended  hereby  constitute its legal, valid and binding obligation and are enforceable against it in accordance with  their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium  or  other  laws  affecting  creditors’  rights  generally  and  subject  to  general  principles  of  equity,  regardless of whether considered in a proceeding in equity or at law; (ii) all of the representations  and warranties of such Loan Party set forth in the Credit Agreement are true and correct in all  material  respects  on  and  as  of  the  date  hereof  (it  being  understood  and  agreed  that  any  representation or warranty which by its terms is made as of a specified date shall be required to  be true and correct in all material respects only as of such specified  date,  and  that  any  representation or warranty which is subject to any materiality qualifier shall be required to be  true and correct in all respects) and (iii) no Default has occurred and is continuing on and as of  the date hereof.               4.    Effect  on  the  Credit  Agreement  and  Other  Loan  Documents; Reaffirmation.                (a)  Upon the effectiveness of this Amendment, on and after the date hereof, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or  words of like import shall mean and be a reference to the Credit Agreement, as amended and  modified hereby.               (b)   Except  as  expressly  set  forth  herein,  (i)  the  execution,  delivery  and effectiveness of this Amendment shall neither operate as a waiver of any rights, power or remedy  of the Administrative Agent or the Lenders under the Credit Agreement or any other documents  executed in connection with the Credit Agreement, nor constitute a waiver of any provision of  the  Credit  Agreement  nor  any  other  document  executed  in  connection  therewith  and  (ii)  the  Credit  Agreement  and  all  other  documents,  instruments  and  agreements  executed  and/or  delivered in connection therewith and are hereby ratified and confirmed.                 (c)   Each  Loan  Party  affirms  its  duties  and  obligations  under  each  Loan Document to which it is a party (including, without limitation, the Guaranty set forth in Article X  of the Credit Agreement).               5.    GOVERNING     LAW.       THIS   AMENDMENT       SHALL    BE  GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS  OF  THE  STATE  OF  NEW  YORK,  BUT  GIVING  EFFECT  TO  FEDERAL  LAWS  APPLICABLE TO NATIONAL BANKS.                                         2  

 

            6.     Costs and Expenses.  The Loan Parties, jointly and severally, agree to pay   all  reasonable  and  documented  out-of-pocket  expenses  incurred  by  the  Administrative  Agent,   including  the  reasonable  fees,  charges  and  disbursements  of  counsel  for  the  Administrative   Agent, in connection with the preparation, negotiation and execution of this Amendment.                7.    Headings.   Section  headings  in  this  Amendment  are  included  herein  for   convenience of reference only and shall not constitute a part of this Amendment for any other   purpose.               8.     Counterparts.  This Amendment may be executed by one or more of the   parties on any number of separate counterparts and all of said counterparts taken together shall   be deemed to constitute one and the same instrument. A facsimile copy or other electronic image   (e.g., “PDF” or “TIF” via electronic mail) of any signature hereto shall have the same effect as   the original thereof.                9.    No Strict Construction. The parties hereto have participated jointly in the  negotiation and drafting of this Amendment.  In the event an ambiguity or question of intent or  interpretation arises, this Amendment shall be construed as if drafted jointly by the parties hereto  and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of  the authorship of any provisions of this Amendment.                10.   Cashless Settlement.  Each of the undersigned Lenders agrees to roll over  all  of  its  outstanding  Loans  on  the  date  hereof  pursuant  to  a  cashless  settlement  mechanism  approved by the Borrower and the Administrative Agent.                               [Signature Pages Follow]                                           3  

 

 

 

 

 

                     By its  execution below, the undersigned Lender                      agrees to the terms of this Amendment (including,                      without  limitation, the roll over of all of its                      outstanding Loans pursuant to a cashless settlement                      mechanism   as set forth in Section  10 of the                      Amendment) ABS Loans 2007 Limited, a subsidiary of Goldman Sachs Institutional Funds II PLC                      (Print name of   der above)                        B Y            ~~                          Name:                          Title:    ~C-~f/ ~~~^~                      Signature Page to        Amendment No. 2 to Term Loan Credit Agreement 

 

            By its execution below, the undersigned Lender             agrees to the terms of this Amendment (including,             without limitation, the roll over of all of its             outstanding Loans pursuant to a cashless settlement             mechanism as  set forth in Section 10 of the             Amendment)   Goldman Sachs Trust on behalf ofthe  Goldman Sachs High Yield Floating Rate Fund   Bv: Goldman Sachs Asset Manaeement. L.P. as investment advisor and not as nrincinal             (Print name of Lender above)              By                Name:     '~                Title:    J ~ -~ ~~ ~''~"``'~                         ~~naS~nS      ~~/~G~i~             Signature Page to Amendment No. 2 to Term Loan Credit Agreement 

 

                           By its  execution below, the undersigned Lender                            agrees to the terms of this Amendment (including,                            without  limitation, the roll over of all of its                            outstanding Loans pursuant to a cashless settlement                             mechanism  as set forth in Section  10 of the                            Amendment) Goldman Sachs Lux Inveshnent Funds for the benefit of Goldman Sachs High Yield Floating Rate Portfolio (Lux) by Goldman Sachs Asset Management, L.P. solely as its inveshnent advisor and not as principal                            (Print name of~I,.,ender above)                                  Name:"       l                                Title:     eTe~     G~"                                                          t~ ~r~~ ~~                            Signature Page to              Amendment No. 2 to Term Loan Credit Agreement 

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ACE American Insurance Company                                                BY: T. Rowe Price Associates, Inc. as investment                        advisor                                                  By:                                             Name: Rebecca Willey                             Title: Bank Loan Trader                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        AGF Floating Rate Income Fund                                                By: Eaton Vance Management as Portfolio Manager                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        AMMC CLO 15, LIMITED                                                BY: American Money Management Corp., as                        Collateral Manager                                                  By:                                                         Name: David P. Meyer                             Title: Senior Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        AMMC CLO 18, LIMITED                                                By: American Money Management Corp.,                         as Collateral Manager                                                  By:                                                         Name: David Meyer                             Title: Senior Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        AMMC CLO 22, LIMITED                                                By: American Money Management Corp.,                         as Collateral Manager                                                  By:                                                         Name: David Meyer                             Title: Senior Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Apex Credit CLO 2015-II Ltd.                                                By: Apex Credit Partners, its Asset Manager                                                  By:                                                     Name: Andrew Stern                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Apex Credit CLO 2016 Ltd.                                                By: Apex Credit Partners, its Asset Manager                                                  By:                                                     Name: Andrew Stern                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Apex Credit CLO 2017-II Ltd.                                                By: Apex Credit Partners LLC                                                  By:                                                     Name: Andrew Stern                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Ascension Alpha Fund, LLC                                                By:  Amundi Pioneer Institutional Asset                        Management, Inc.                                                  By:                                                         Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                                                                         By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Ascension Health Master Pension Trust                                                By:  Amundi Pioneer Institutional Asset                        Management, Inc.                                                  By:                                                         Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                                                                         By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Assurant CLO I, Ltd.                         By: Assurant Investment Management LLC as                        Service Provider to Assurant CLO Management,                        LLC as its Collateral Manager                          By:                            Name: Michael Feeney                             Title: Senior Vice President                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ATLAS SENIOR LOAN FUND III, Ltd.                                                By: Crescent Capital Group LP, its adviser                                                  By:                                             Name: Brian McKeon                             Title: Vice President                                                                          By:                                                     Name: Wayne Hosang                             Title: Managing Director              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ATLAS SENIOR LOAN FUND IX, LTD.                                                By: Crescent Capital Group LP, its adviser                                                  By:                                             Name: Brian McKeon                             Title: Vice President                                                                          By:                                                     Name: Wayne Hosang                             Title: Managing Director              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ATLAS SENIOR LOAN FUND V, LTD.                                                By: Crescent Capital Group LP, its adviser                                                  By:                                             Name: Brian McKeon                             Title: Vice President                                                                          By:                                                     Name: Wayne Hosang                             Title: Managing Director              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          ATLAS SENIOR LOAN FUND VII, LTD.                         By: Crescent Capital Group LP, its adviser                          By:                            Name: Brian McKeon                            Title: Vice President                          By:                            Name: Wayne Hosang                             Title: Managing Director              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ATLAS SENIOR LOAN FUND X, LTD.                                                By: Crescent Capital Group LP, its adviser                                                  By:                                             Name: Brian McKeon                             Title: Vice President                                                                          By:                                                     Name: Wayne Hosang                             Title: Managing Director              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Atlas Senior Secured Loan Fund VIII, Ltd.                                                By: Crescent Capital Group LP, its adviser                                                  By:                                             Name: Brian McKeon                             Title: Vice President                                                                          By:                                                     Name: Wayne Hosang                             Title: Managing Director              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ATRIUM IX                                                By: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Atrium X                                                BY:  By: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          ATRIUM XI                         BY: Credit Suisse Asset Management, LLC, as                        portfolio manager                          By:                            Name: Louis Farano                             Title: Managing Director                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Atrium XII                                                By: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        BA/CSCREDIT 1 LLC                                                By: Credit Suisse Asset Management, LLC, as                        investment manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Baloise Senior Secured Loan Fund III                                                By: Octagon Credit Investors, LLC                          as Sub Investment Manager                                                  By:                                                         Name: Margaret B. Harvey                             Title: Managing Director of Portfolio                           Administration                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Black Diamond CLO 2014-1 Ltd.                                                By: Black Diamond CLO 2014-1 Adviser, L.L.C.                         As its Collateral Manager                                                  By:                                                         Name: Stephen H. Deckoff                             Title: Managing Principal                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Black Diamond CLO 2016-1 Ltd.                                                By: Black Diamond CLO 2016-1 Adviser, L.L.C.                         As its Collateral Manager                                                  By:                                                         Name: Stephen H. Deckoff                             Title: Managing Principal                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

                                                                                 Re: Global Brass and Copper, Inc. Amendment No. 2 to the Term Loan Credit Agreement                We have posted for your review (i) draft of Amendment No. 2 to the Global Brass and  Copper, Inc. Term Loan Credit Agreement (“Amendment No. 2”) and (ii) a conformed copy of  the Term Loan Credit Agreement which will be attached as Exhibit A to the Amendment, along  with a redline against the executed Term Loan Credit Agreement (as amended by Amendment  No. 1 to the Term Loan Credit Agreement). We request that all Lender comments and executed  signature pages to the Amendment be delivered no later than 5:00 PM New York City time on  May 23, 2018.        Please note that following the lender presentation, an additional change was made to the  Amendment No. 2 regarding the ability of Global Brass and Copper Holdings, Inc. (“Holdings”)  to make quarterly dividend payments pursuant to Section 6.08(a)(vi) of the Term Loan Credit  Agreement. The permitted quarterly dividend allowed to be made by Holdings from Restricted  Payments has increased from $0.15 per issued share of common stock of Holdings to $0.21 per  issued  share  of  common  stock  of  Holdings  (with  the  covenant  now  being  the  greater  of  $10  million and $0.21 per share).         Please indicate your consent to the amendment by consenting online via LendAmend or  by submitting an executed signature page, a form of which is attached  hereto  as Exhibit A to  GlobalBrassMay18@Lendamend.com no later than 5:00 PM New York City time on May 23,  2018. For questions about signature pages or execution matters please contact LendAmend at +1  (646) 453-2847.         Please address all legal comments to our counsel, Sidley Austin LLP, to the attention of  Mark Kirsons (phone: 312-853-6891 or mkirsons@sidley.com) and Rob Isham (phone: 312-853- 2031 or risham@sidley.com). Please address all credit and business comments to John Hartman  (phone: 212-270-1368 or john.s.hartman@jpmorgan.com) or Rob Pim (phone: (212) 270-6927  or robert.r.pim@jpmorgan.com).         Thank you for your assistance in this matter. 

 

                                            Exhibit A  Lender Signature Page      (attached) 

 

                                                                        By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                               _BMO Floating Rate Income Fund___               (Print name of Lender above)                                             By__________________________________                                                                                                                              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Brighthouse Funds Trust I - Brighthouse/Eaton                        Vance Floating Rate Portfolio                                                BY: Eaton Vance Management as Investment Sub-                       Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        CALIFORNIA STATE TEACHERS' RETIREMENT                        SYSTEM                                                By: Credit Suisse Asset Management, LLC, as                        investment manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Canyon Capital CLO 2014-1, Ltd.                                                BY: Canyon Capital Advisors LLC, its Collateral                        Manager                                                  By:                                                         Name: Jonathan M. Kaplan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Canyon Capital CLO 2014-2, Ltd.                                                BY: Canyon Capital Advisors LLC, its Collateral                        Manager                                                  By:                                                         Name: Jonathan M. Kaplan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Canyon CLO 2016-1, Ltd.                                                By: Canyon CLO Advisors LLC, its Collateral                        Manager                                                  By:                                                         Name: Jonathan M. Kaplan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Canyon CLO 2016-2, Ltd.                                                BY: Canyon CLO Advisors LLC, its Collateral                        Manager                                                  By:                                                         Name: Jonathan M. Kaplan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Canyon CLO 2017-1, Ltd.                                                By: Canyon CLO Advisors LLC, its Collateral                        Manager                                                  By:                                                         Name: Jonathan Kaplan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Catamaran CLO 2014-1 Ltd.                                                By: Trimaran Advisors, L.L.C.                                                  By:                                                         Name: Daniel Gilligan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Catamaran CLO 2014-2 Ltd.                                                                                                  By:                                                         Name: Daniel Gilligan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Catamaran CLO 2015-1 Ltd.                                                                                                  By:                                                         Name: Daniel Gilligan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Catamaran CLO 2016-1 LTD.                                                                                                  By:                                                         Name: Daniel Gilligan                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Collective Trust High Yield Fund                                                By: Alcentra NY, LLC, as investment advisor                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        CREDIT SUISSE FLOATING RATE HIGH                        INCOME FUND                                                By: Credit Suisse Asset Management, LLC, as                        investment advisor                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Credit Suisse Nova (LUX) Global Senior Loan Fund                                                By: Credit Suisse Asset Management, LLC or Credit                        Suisse Asset Management Limited, each acting in                        their capacity as Co-Portfolio Managers to Credit                        Suisse Fund Management S.A., management                        company for Credit Suisse Nova (Lux)                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Delaware Public Employees' Retirement System                                                By: T. Rowe Price Associates, Inc., as investment                        manager                                                  By:                                             Name: Rebecca Willey                             Title: Bank Loan Trader                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 30 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 33 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 34 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 36 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 37 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 40 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 41 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 42 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 43 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 45 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 49 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 50 Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden 53 CLO, Ltd.                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        DRYDEN 64 CLO FUNDING, LTD.                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden XXVI Senior Loan Fund                                                By: PGIM, Inc., as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Dryden XXVIII Senior Loan Fund                                                By: PGIM, Inc.,  as Collateral Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance CLO 2013-1 LTD.                                                BY: Eaton Vance Management                          Portfolio Manager                                                                           By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance CLO 2014-1, Ltd.                                                BY: Eaton Vance Management                          Portfolio Manager                                                                           By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance CLO 2015-1 Ltd.                                                By: Eaton Vance Management                         Portfolio Manager                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance Floating-Rate Income Plus Fund                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance Floating-Rate Income Trust                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance Institutional Senior Loan Fund                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance International (Cayman Islands)                        Floating-Rate Income Portfolio                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance Limited Duration Income Fund                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance Senior Floating-Rate Trust                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance Senior Income Trust                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance Short Duration Diversified Income                        Fund                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Eaton Vance VT Floating-Rate Income Fund                                                BY: Eaton Vance Management as Investment                        Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          ERIE INSURANCE EXCHANGE                         By: Credit Suisse Asset Management, LLC., as its                        investment manager for Erie Indemnity Company, as                        Attorney-in-Fact for Erie Insurance Exchange                          By:                            Name: Louis Farano                             Title: Managing Director                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Florida Power & Light Company                                                By: Eaton Vance Management as Investment Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Global-Loan SV S.a r.l.                                                Executed by Alcentra Limited as Portfolio Manager,                          and Alcentra NY, LLC as Sub-Manager, for and on                          behalf of Global-Loan SV Sarl                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ICG US CLO 2015-1, Ltd                                                                                                  By:                                                     Name: Seth Katzenstein                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ICG US CLO 2015-2, Ltd.                                                                                                  By:                                                     Name: Seth Katzenstein                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ICG US CLO 2016-1, Ltd.                                                                                                  By:                                                     Name: Seth Katzenstein                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        IRONSHORE INC.                                                By: Liberty Mutual Group Asset Management Inc.,                        its Adviser                                                 By:                                                 Name: Scott Russian                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        JFIN CLO 2014-II LTD.                                                By: Apex Credit Partners LLC, as Portfolio Manager                                                  By:                                                     Name: Andrew Stern                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        JFIN CLO 2015 LTD.                                                By: Apex Credit Partners LLC, as Portfolio Manager                                                  By:                                                     Name: Andrew Stern                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        John Hancock Funds II - Spectrum Income Fund                                                BY: T. Rowe Price Associates, Inc. as investment                        sub-advisor                                                  By:                                             Name: Rebecca Willey                             Title: Bank Loan Trader                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

 

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        LCM XIII Limited Partnership                                                By: LCM Asset Management LLC                         As Collateral Manager                                                  By:                                              Name: Alexander B. Kenna                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        LCM XIX Limited Partnership                                                By: LCM Asset Management LLC                         As Collateral Manager                                                  By:                                              Name: Alexander B. Kenna                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        LCM XV Limited Partnership                                                By: LCM Asset Management LLC                         As Collateral Manager                                                  By:                                              Name: Alexander B. Kenna                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          LCM XVIII Limited Partnership                         By: LCM Asset Management LLC                        As Collateral Manager                          By:                            Name: Alexander B. Kenna                            Title: Authorized Signatory                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        LCM XXI Limited Partnership                                                By: LCM Asset Management LLC                         As Collateral Manager                                                  By:                                              Name: Alexander B. Kenna                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        LCM XXII Ltd.                                                By: LCM Asset Management LLC                         As Collateral Manager                                                  By:                                              Name: Alexander B. Kenna                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        LCM XXIV Ltd.                                                By: LCM Asset Management LLC                         As Collateral Manager                                                  By:                                              Name: Alexander B. Kenna                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Liberty Mutual Retirement Plan Master Trust, as                        Assignee                                                By: LIBERTY MUTUAL GROUP ASSET                        MANAGEMENT INC. ACTING FOR AND ON                        BEHALF OF LIBERTY MUTUAL RETIREMENT                        PLAN MASTER TRUST                                                 By:                                                 Name: Scott Russian                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        MADISON PARK FUNDING X, LTD.                                                BY: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XII, Ltd.                                                By: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XIII, Ltd.                                                BY: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        MADISON PARK FUNDING XIV, LTD.                                                BY: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XIX, Ltd.                                                By: Credit Suisse Asset Management, LLC, as                        collateral manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XV, Ltd.                                                BY: Credit Suisse Asset Management, LLC, as                        Portfolio Manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XVI, Ltd.                                                BY: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        MADISON PARK FUNDING XVII, LTD.                                                BY: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XVIII, Ltd.                                                By: Credit Suisse Asset Management, LLC                         as Collateral Manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XX, Ltd.                                                By: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Madison Park Funding XXI, Ltd.                                                By: Credit Suisse Asset Management, LLC, as                        portfolio manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Multi Sector Value Bond Fund                                                By:  Amundi Pioneer Institutional Asset                        Management, Inc.                                                  By:                                                         Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                                                                         By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Northwoods Capital XV, Limited                                                By: Angelo, Gordon & Co., LP                         As Collateral Manager                                                  By:                                                   Name: Chris Brescio                             Title: Director of Trading                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Northwoods Capital XVI, Limited                                                By: Angelo, Gordon & Co., LP                         As Collateral Manager                                                  By:                                                   Name: Chris Brescio                             Title: Director of Trading                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Oaktree EIF III Series II, Ltd.                                                By: Oaktree Capital Management, L.P.                         its: Collateral Manager                                                 By:                                                     Name: Ronald Kaplan                             Title: Managing Director                                                                          By:                                                         Name: Armen Panossian                             Title: Managing Director              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Ocean Trails CLO VI                                                By: Five Arrows Managers North America LLC                         as Asset Manager                                                  By:                                             Name: Ryan White                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Octagon Investment Partners 25, Ltd.                                                By: Octagon Credit Investors, LLC as Collateral                        Manager                                                  By:                                                         Name: Margaret B. Harvey                             Title: Managing Director of Portfolio                           Administration                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Octagon Investment Partners 28, Ltd.                                                                                                  By:                                                         Name: Margaret B. Harvey                             Title: Managing Director of Portfolio                           Administration                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Octagon Paul Credit Fund Series I, Ltd.                                                BY: Octagon Credit Investors, LLC                          as Portfolio Manager                                                                           By:                                                         Name: Margaret Harvey                             Title: Managing Director of Portfolio                           Administration                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OHA LOAN FUNDING 2013-1, LTD.                                                By: Oak Hill Advisors, L.P.                         as Portfolio Manager                                                  By:                                                          Name: Glenn August                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OHA LOAN FUNDING 2015-1 LTD.                                                BY: Oak Hill Advisors, L.P. as Portfolio Manager                                                  By:                                                          Name: Glenn August                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OHA Loan Funding 2016-1, Ltd.                                                By: Oak Hill Advisors, L.P.                         As Portfolio Manager                                                  By:                                                          Name: Glenn August                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM FUNDING II, LTD.                                                By: Och-Ziff Loan Management LP, its  portfolio                        manager                           By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM FUNDING III, LTD.                                                By: Och-Ziff Loan Management LP, its  portfolio                        manager                           By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM FUNDING IV, LTD.                                                By: Och-Ziff Loan Management LP, its  portfolio                        manager                           By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM FUNDING, LTD.                                                By: OZ CLO Management LLC, its portfolio                        manager                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM IX, LTD.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          OZLM VI, LTD.                         By: Och-Ziff Loan Management LP, its asset                        manager                           By: Och-Ziff Loan Management LLC, its general                        partner                          By:                            Name: Alesia J. Haas                            Title: CFO                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM VII, LTD.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM VIII, LTD.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM XI, LTD.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM XII, LTD.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM XIII, Ltd.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM XIV, LTD.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM XIX, Ltd.                                                By: OZ CLO Management LLC, its collateral                        manager                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        OZLM XV, LTD.                                                By: Och-Ziff Loan Management LP, its collateral                        manager                         By: Och-Ziff Loan Management LLC, its general                        partner                                                 By:                                                    Name: Alesia J. Haas                             Title: CFO                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          OZLM XVI, Ltd.                         By: OZ CLO Management LLC, its successor                        portfolio manager                          By:                            Name: Alesia J. Haas                            Title: CFO                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          OZLM XVII, Ltd.                         By: OZ CLO Management LLC, its collateral                        manager                          By:                            Name: Alesia J. Haas                            Title: CFO                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Pacific Select Fund Floating Rate Loan Portfolio                                                BY: Eaton Vance Management as Investment Sub-                       Advisor                                                  By:                                                         Name: Michael Brotthof                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Peerless Insurance Company                                                                                                 By:                                                 Name: Scott Russian                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Pioneer Diversified High Income Trust                         By: Amundi Pioneer Asset Management, Inc.                          By:                            Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Pioneer Floating Rate Fund                                                By: Amundi Pioneer Asset Management, Inc.                                                  By:                                                         Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                                                                         By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Pioneer Floating Rate Trust                                                By: Amundi Pioneer Asset Management, Inc.                                                  By:                                                         Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                                                                         By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Pioneer Investments Diversified Loans Fund                                                By: Amundi Pioneer Asset Management, Inc.                                                  By:                                                         Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                                                                         By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Pioneer Multi-Asset Income Fund                         By: Amundi Pioneer Asset Management, Inc.                          By:                            Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Pioneer Multi-Asset Ultrashort Income Fund                                                By: Amundi Pioneer Asset Management, Inc.                                                  By:                                                         Name: Margaret C. Begley                             Title: Secretary and Associate General Counsel                                                                         By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Pramerica Global Loan Opportunities Limited                                                By: PGIM, Inc., as Investment Manager                                                  By:                                              Name: Joseph Lemanowicz                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Rockford Tower CLO 2017-2, Ltd.                                                By: King Street Capital Management, L.P.                         Its Authorized Signatory                                                  By:                                                  Name: Howard Baum                             Title: Authorized Signatory                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Senior Debt Portfolio                         BY: Boston Management and Research as Investment                        Advisor                          By:                            Name: Michael Brotthof                            Title: Vice President                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Shackleton 2013-III CLO, Ltd.                         BY: Alcentra NY, LLC, as investment advisor                          By:                            Name: Young Kwon                            Title: Vice President                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Shackleton 2013-IV CLO, LTD                                                by Alcentra NY, LLC as its Collateral Manager                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Shackleton 2014-V CLO, Ltd.                          By:                            Name: Young Kwon                            Title: Vice President                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Shackleton 2014-VI CLO, Ltd.                                                BY: Alcentra NY, LLC as its Collateral Manager                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Shackleton 2015-VII CLO, Ltd                         BY: Alcentra NY, LLC as its Collateral Manager                          By:                            Name: Young Kwon                            Title: Vice President                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          Shackleton 2015-VIII CLO, Ltd.                          By:                            Name: Young Kwon                            Title: Vice President                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Shackleton 2016-IX CLO, Ltd                                                by Alcentra NY, LLC as its Collateral Manager                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Shackleton 2017-X CLO, Ltd                                                by Alcentra NY, LLC as its Collateral Manager                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Shackleton 2017-XI CLO, LTD.                                                by Alcentra NY, LLC as its Collateral Manager                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                          SHACKLETON 2017-XII CLO, LTD.                         by Alcentra NY, LLC as its Collateral Manager                          By:                            Name: Young Kwon                            Title: Vice President                          By:                            Name:                            Title:              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        STATE OF NEW MEXICO STATE INVESTMENT                        COUNCIL                                                By: authority delegated to the New Mexico State                        Investment Office                         By: Credit Suisse Asset Management, LLC, its                        investment manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Steele Creek CLO 2016-1, Ltd.                                                                                                  By:                                                 Name: Nick Skudlarek                             Title: Research Analyst                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        T. Rowe Price Floating Rate Fund, Inc.                                                                                                  By:                                             Name: Rebecca Willey                             Title: Bank Loan Trader                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        T. Rowe Price Institutional Floating Rate Fund                                                                                                  By:                                             Name: Rebecca Willey                             Title: Bank Loan Trader                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

 

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        THE CITY OF NEW YORK GROUP TRUST                                                BY: Credit Suisse Asset Management, LLC, as its                        manager                                                  By:                                                         Name: Louis Farano                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        The Dreyfus/Laurel Funds, Inc. - Dreyfus Floating                        Rate Income Fund                                                By: Alcentra NY, LLC, as investment advisor                                                  By:                                                         Name: Young Kwon                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        THL Credit Wind River 2016-1 CLO Ltd.                                                By THL Credit Senior Loan                         Strategies LLC, its Manager                                                  By:                                                  Name: James R. Fellows                             Title: Managing Director/Co-Head                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Trestles CLO 2017-1, Ltd.                                                By: Pacific Asset Management, as collateral manager                                                  By:                                                       Name: Anar Majmudar                             Title: Authorized Signatory                                                                         By:                                                      Name: Norman Yang                             Title: Authorized Sgnatory              Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2012-4, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2013-1, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2013-2, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2013-3, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2014-1, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                                           By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2014-2, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2014-3, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2014-4, Ltd.                                                BY: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2015-1, Ltd.                                                By: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2015-2, Ltd.                                                By: Voya Alternative Asset Management LLC,                         as its investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2015-3, Ltd.                                                By: Voya Alternative Asset Management LLC,                         as its investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2016-1, Ltd.                                                By: Voya Alternative Asset Management LLC,                         as its investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2016-2, Ltd.                                                By: Voya Alternative Asset Management LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2016-3, Ltd.                                                By: Voya Alternative Asset Management LLC,                         as its investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2016-4, Ltd.                                                By: Voya Alternative Asset Management LLC,                         as its investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya CLO 2017-4, Ltd.                                                By: Voya Alternative Asset Management LLC,                          as its investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya Floating Rate Fund                                                BY: Voya Investment Management Co. LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya Prime Rate Trust                                                BY: Voya Investment Management Co. LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya Senior Income Fund                                                BY: Voya Investment Management Co. LLC, as its                        investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        Voya Strategic Income Opportunities Fund                                                By: Voya Investment Management Co. LLC,                         as its investment manager                                                  By:                                                        Name: Michael Donoghue                             Title: Vice President                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

 

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ZAIS CLO 3, Limited                                                ZAIS CLO 3, Limited                                                 By:                                                 Name: Vincent Ingato                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

             By  its  execution  below,  the  undersigned  Lender               agrees  to  the  terms  of  this  Amendment  (including,               without  limitation,  the  roll  over  of  all  of  its               outstanding Loans pursuant to a cashless settlement               mechanism  as  set  forth  in  Section  10  of  the               Amendment)                                        ZAIS CLO 5, Limited                                                By Zais Leveraged Loan Master Manager, LLC its                        collateral manager                         By: Zais Group, LLC, its sole member                                                 By:                                                 Name: Vincent Ingato                             Title: Managing Director                                                                        By:                             Name:                             Title:               Signature Page to  Amendment No. 2 to Term Loan Credit Agreement  

 

       EXHIBIT A   Conformed Credit Agreement           Attached  

 

                                                                      Exhibit A                           TERM LOAN CREDIT AGREEMENT                                      dated as of                                     July 18, 2016                      and amended as of July 18, 2017 and May 29, 2018                                        among                          GLOBAL BRASS AND COPPER, INC.,                                   as the Borrower                    GLOBAL BRASS AND COPPER HOLDINGS, INC.,                                     as Holdings                            The Loan Guarantors Party Hereto                                The Lenders Party Hereto      BANK OF AMERICA, N.A., WELLS FARGO BANK, NATIONAL ASSOCIATION and              DEUTSCHE BANK SECURITIES INC., as Co-Syndication Agents    BRANCH BANKING AND TRUST COMPANY, KEYBANK NATIONAL ASSOCIATION                      and WILLIAM BLAIR & COMPANY, L.L.C.,                             as Co-Documentation Agents                                         and                            JPMORGAN CHASE BANK, N.A.,                                as Administrative Agent                             ___________________________       JPMORGAN CHASE BANK, N.A., MERRILL LYNCH, PIERCE, FENNER & SMITH        INCORPORATED, WELLS FARGO SECURITIES, LLC and DEUTSCHE BANK                                 SECURITIES INC.                      as Joint Bookrunners and Joint Lead Arrangers    ACTIVE 231922421  

 

                                                                                                                   TABLE OF CONTENTS                                                           Page    ARTICLE I - Definitions...........................................................................................1        SECTION 1.01.  Defined Terms .................................................................................................1        SECTION 1.02.  Classification of Loans and Borrowings. ......................................................36        SECTION 1.03.  Terms Generally. ...........................................................................................36        SECTION 1.04.  Accounting Terms; GAAP ............................................................................37        SECTION 1.05.  Pro Forma Adjustments for Acquisitions and dispositions ...........................37        SECTION 1.06.  Status of Obligations .....................................................................................38  ARTICLE II – The Credits .................................................................................................................................. 38        SECTION 2.01.  Commitments ................................................................................................38        SECTION 2.02.  Loans and Borrowings ...................................................................................38        SECTION 2.03.  Requests for Borrowings ...............................................................................39        SECTION 2.04.  [Reserved]. .....................................................................................................40        SECTION 2.05.  [Reserved]. .....................................................................................................40        SECTION 2.06.  [Reserved]. .....................................................................................................40        SECTION 2.07.  Funding of Borrowings. .................................................................................40        SECTION 2.08.  Interest Elections. ..........................................................................................40        SECTION 2.09.  Termination of Commitments .......................................................................42        SECTION 2.10.  Repayment and Amortization of Loans; Evidence of Debt. ..........................42        SECTION 2.11.  Prepayment of Loans .....................................................................................43        SECTION 2.12.  Fees. ...............................................................................................................46        SECTION 2.13.  Interest ...........................................................................................................47        SECTION 2.14.  Alternate Rate of Interest. ..............................................................................47        SECTION 2.15.  Increased Costs. .............................................................................................48        SECTION 2.16.  Break Funding Payments. ..............................................................................49        SECTION 2.17.  Withholding of Taxes; Gross-Up. .................................................................50        SECTION 2.18.  Payments Generally; Allocation of Proceeds; Sharing of Set-offs ...............54        SECTION 2.19.  Mitigation Obligations; Replacement of Lenders. ........................................56        SECTION 2.20.  Defaulting Lenders. .......................................................................................57        SECTION 2.21.  Returned Payments ........................................................................................57        SECTION 2.22.  Banking Services and Swap Agreements ......................................................57        SECTION 2.23.  Incremental Credit Extensions ......................................................................58        SECTION 2.24.  Extensions of Loans ......................................................................................60  ARTICLE III – Representations and Warranties ................................................................................................. 63        SECTION 3.01.  Organization; Powers ....................................................................................63        SECTION 3.02.  Authorization; Enforceability ........................................................................63        SECTION 3.03.  Governmental Approvals; No Conflicts. .......................................................63        SECTION 3.04.  Financial Condition; No Material Adverse Change ......................................63        SECTION 3.05.  Properties .......................................................................................................64        SECTION 3.06.  Litigation and Environmental Matters. ..........................................................64        SECTION 3.07.  Compliance with Laws and Agreements. ......................................................64        SECTION 3.08.  Investment Company Status. .........................................................................65                                                                                       

 

         SECTION 3.09.  Taxes. .............................................................................................................65        SECTION 3.10.  ERISA ............................................................................................................65        SECTION 3.11.  Disclosure. .....................................................................................................65        SECTION 3.12.  Material Contracts .........................................................................................65        SECTION 3.13.  Solvency. .......................................................................................................65        SECTION 3.14.  Insurance. .......................................................................................................66        SECTION 3.15.  Capitalization and Subsidiaries. ....................................................................66        SECTION 3.16. Security Interest in Collateral .........................................................................66        SECTION 3.17. Employment Matters ......................................................................................66        SECTION 3.18. Federal Reserve Regulations ..........................................................................67        SECTION 3.19. Use of Proceeds ..............................................................................................67        SECTION 3.20. No Burdensome Restrictions ..........................................................................67        SECTION 3.21. Anti-Corruption Laws and Sanctions .............................................................67        SECTION 3.22.  EEA Financial Institutions ............................................................................67        SECTION 3.23.  Status as Senior Debt .....................................................................................67        SECTION 3.24.  No Default .....................................................................................................67        SECTION 3.25.  Business of Holdings .....................................................................................67  ARTICLE IV - Conditions .................................................................................................................................. 68        SECTION 4.01.  Effective Date ................................................................................................68        SECTION 4.02.  Each Credit Event. .........................................................................................71  ARTICLE V – Affirmative Covenants ................................................................................................................ 71        SECTION 5.01.  Financial Statements and Other Information .................................................72        SECTION 5.02.  Notices of Material Events. ...........................................................................74        SECTION 5.03.  Existence; Conduct of Business ....................................................................75        SECTION 5.04.  [Reserved]. .....................................................................................................75        SECTION 5.05.  Maintenance of Properties .............................................................................75        SECTION 5.06.  Books and Records; Inspection Rights ..........................................................75        SECTION 5.07.  Compliance with Laws. .................................................................................76        SECTION 5.08.  Use of Proceeds. ............................................................................................76        SECTION 5.09.  Accuracy of Information. ..............................................................................76        SECTION 5.10.  Insurance. .......................................................................................................77        SECTION 5.11.  Casualty and Condemnation ..........................................................................77        SECTION 5.12. [Reserved] .......................................................................................................77        SECTION 5.13. Maintenance of Ratings ..................................................................................77        SECTION 5.14. Additional Collateral; Further Assurances .....................................................77        SECTION 5.15. Post-Closing Matters ......................................................................................78  ARTICLE VI – Negative Covenants ................................................................................................................... 79        SECTION 6.01.  Indebtedness. .................................................................................................79        SECTION 6.02.  Liens. .............................................................................................................82        SECTION 6.03.  Fundamental Changes. ..................................................................................84        SECTION 6.04.  Investments, Loans, Advances, Guarantees and Acquisitions ......................85        SECTION 6.05.  Asset Sales .....................................................................................................87        SECTION 6.06.  Sale and Leaseback Transactions ..................................................................89        SECTION 6.07.  Swap Agreements ..........................................................................................89        SECTION 6.08.  Restricted Payments; Certain Payments of Indebtedness. .............................89        SECTION 6.09.  Transactions with Affiliates. .........................................................................91        SECTION 6.10.  Restrictive Agreements. ................................................................................92      

 

         SECTION 6.11. Amendment of Material Documents ..............................................................92        SECTION 6.13. Holding Company ..........................................................................................92  ARTICLE VII – Events of Default ...................................................................................................................... 93  ARTICLE VIII – The Administrative Agent ....................................................................................................... 96        SECTION 8.01. Appointment ...................................................................................................96        SECTION 8.02. Rights as a Lender ..........................................................................................96        SECTION 8.03. Duties and Obligations ...................................................................................97        SECTION 8.04. Reliance ..........................................................................................................97        SECTION 8.05. Actions through Sub-Agents ..........................................................................97        SECTION 8.06. Resignation .....................................................................................................98        SECTION 8.07. Non-Reliance ..................................................................................................99        SECTION 8.08. Other Agency Titles .......................................................................................99        SECTION 8.09. Not Partners or Co-Venturers; Administrative Agent as Representative of        the Secured Parties Bankruptcy; Credit Bidding .......................................................................99        SECTION 8.10. Flood Laws ...................................................................................................101  ARTICLE IX - Miscellaneous ........................................................................................................................... 101        SECTION 9.01.  Notices .........................................................................................................101        SECTION 9.02.  Waivers; Amendments. ...............................................................................103        SECTION 9.03.  Expenses; Indemnity; Damage Waiver. ......................................................107        SECTION 9.04.  Successors and Assigns ...............................................................................109        SECTION 9.05.  Survival ........................................................................................................112        SECTION 9.06.  Counterparts; Integration; Effectiveness. ....................................................113        SECTION 9.07.  Severability ..................................................................................................113        SECTION 9.08.  Right of Setoff. ............................................................................................113        SECTION 9.09.  Governing Law; Jurisdiction; Consent to Service of Process. ....................114        SECTION 9.10.  WAIVER OF JURY TRIAL. ......................................................................114        SECTION 9.11.  Headings. .....................................................................................................115        SECTION 9.12.  Confidentiality. ............................................................................................115        SECTION 9.13. Several Obligations; Nonreliance; Violation of Law ...................................116        SECTION 9.14.  USA PATRIOT Act. ...................................................................................116        SECTION 9.15.  Disclosure ....................................................................................................116        SECTION 9.16.  Appointment for Perfection .........................................................................117        SECTION 9.17.  Interest Rate Limitation ...............................................................................117        SECTION 9.18.  Marketing Consent ......................................................................................117        SECTION 9.19.  Acknowledgement and Consent to Bail-In of EEA Financial Institutions ..118        SECTION 9.20.  Intercreditor Agreement ..............................................................................118        SECTION 9.21.  No Advisory or Fiduciary Responsibility ....................................................118  ARTICLE X – Loan Guaranty .......................................................................................................................... 119        SECTION 10.01.  Guaranty. ...................................................................................................119        SECTION 10.02.  Guaranty of Payment ..................................................................................120        SECTION 10.03.  No Discharge or Diminishment of Loan Guaranty .....................................120        SECTION 10.04.  Defenses Waived. .......................................................................................120        SECTION 10.05.  Rights of Subrogation .................................................................................121        SECTION 10.06.  Reinstatement; Stay of Acceleration. ..........................................................121        SECTION 10.07.  Information .................................................................................................121        SECTION 10.08.  Termination ................................................................................................121        SECTION 10.09.  [Reserved]. .................................................................................................122      

 

         SECTION 10.10.  Maximum Liability .....................................................................................122        SECTION 10.11.  Contribution ...............................................................................................122        SECTION 10.12.  Liability Cumulative ...................................................................................123        SECTION 10.13.  Keepwell .....................................................................................................123                                           SCHEDULES:  Commitment Schedule  Schedule 3.05 -- Properties  Schedule 3.06 -- Disclosed Matters  Schedule 3.14 -- Insurance  Schedule 3.15 -- Capitalization and Subsidiaries   Schedule 6.01 -- Existing Indebtedness  Schedule 6.02 -- Existing Liens  Schedule 6.04 -- Existing Investments  Schedule 6.09 -- Transactions with Affiliates  Schedule 6.10 -- Existing Restrictions                                        EXHIBITS:    Exhibit A-- Form of Assignment and Assumption  Exhibit B -- Form of Opinion of Loan Parties’ Counsel  Exhibit C – [Reserved]  Exhibit D -- Form of Compliance Certificate  Exhibit E -- Joinder Agreement  Exhibit F-1 -- U.S. Tax Certificate (For Foreign Lenders that are not Partnerships for U.S. Federal  Income Tax Purposes)  Exhibit F-2 -- U.S. Tax Certificate (For Foreign Participants that are not Partnerships for U.S.  Federal Income Tax Purposes)  Exhibit F-3 -- U.S. Tax Certificate (For Foreign Participants that are Partnerships for U.S. Federal  Income Tax Purposes)  Exhibit F-4 -- U.S. Tax Certificate (For Foreign Lenders that are Partnerships for U.S. Federal  Income Tax Purposes)          

 

            TERM LOAN CREDIT AGREEMENT dated as of July 18, 2016 (as it may be amended or  modified  from  time  to  time,  this  “Agreement”)  among  Global  Brass  and  Copper,  Inc.,  as  the   Borrower,  Global  Brass  and  Copper  Holdings,  Inc.,  as  Holdings, the  other  Loan  Parties  party   hereto,  the  Lenders  party  hereto,  and  JPMORGAN  CHASE  BANK,  N.A.,  as  Administrative   Agent.            The parties hereto agree as follows:                                           ARTICLE I                                                                                Definitions                                                     SECTION 1.01.  Defined Terms.  As used in this Agreement, the following terms have the   meanings specified below:            “ABL  Administrative  Agent”  has  the  meaning  set  forth  in  the  definition  of  ABL  Credit   Agreement.            “ABL Credit Agreement” means that certain Credit Agreement, dated as of the date hereof,   by  and  among  the  Borrower,  Holdings,  the  other  loan  parties  party  thereto,  the  financial   institutions party thereto as lenders and JPMCB, in its capacity as administrative agent (in such   capacity,  the  “ABL  Administrative  Agent”),  as  amended,  restated,  supplemented  or  otherwise   modified from time to time to the extent not prohibited by the Intercreditor Agreement.           “ABL Loan Documents” means the ABL Credit Agreement, the Intercreditor Agreement   and  any  agreements  (including,  without  limitation,  any  guarantee  agreements  or  security   agreements), instruments and documents executed from time to time in connection therewith, as   the same may be amended, restated, supplemented or otherwise modified from time to time to the   extent not prohibited by the Intercreditor Agreement.           “ABL Obligations” has the meaning set forth in the Intercreditor Agreement.            “ABL Priority Collateral” has the meaning set forth in the Intercreditor Agreement.            “ABL Loans” means the “Loans” as defined in the ABL Credit Agreement.             “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or   the  Loans  comprising  such  Borrowing,  bear  interest  at  a  rate  determined  by  reference  to  the   Alternate Base Rate.            “Acceptable  Intercreditor  Agreement”  means  the  Intercreditor  Agreement  or  another   intercreditor agreement that is reasonably satisfactory to the Administrative Agent.                                              1                                                                                        

 

       “Account” has the meaning assigned to such term in the Security Agreement.          “Account Debtor” means any Person obligated on an Account.          “Acquisition” means any transaction, or any series of related transactions, consummated on   or  after  the  Effective  Date,  by  which  any  Loan  Party  or  any  Subsidiary  (a)  acquires  any  going   business or all or substantially all of the assets of any Person, whether through purchase of assets,   merger or otherwise or (b) directly or indirectly acquires (in one transaction or as the most recent  transaction  in  a  series  of  transactions)  at  least  a  majority  (in  number  of  votes)  of  the  Equity  Interests of a Person which has ordinary voting power for the election of directors or other similar  management personnel of a Person (other than Equity Interests having such power only by reason  of the happening of a contingency) or a majority of the outstanding Equity Interests of a Person.          “Additional Term Lender” mean any Lender with an Additional Term Loan Commitment   or an outstanding Additional Term Loan.          “Additional  Term  Loan  Commitments”  means  any  term  commitment  added  pursuant  to   Section 2.23, 2.24 and/or 9.02(f).          “Additional Term Loans” means any term loan added pursuant to Section 2.23, 2.24 and/or   9.02(f).          “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest   Period or for any ABR Borrowing, an interest rate per annum (rounded upwards, if necessary, to   the  next  1/16  of  1%)  equal  to  (a)  the  LIBO  Rate  for  such  Interest  Period  multiplied  by  (b) the   Statutory Reserve Rate.          “Administrative  Agent”  means  JPMorgan  Chase  Bank,  N.A.  (including  its  branches  and   Affiliates), in its capacity as administrative agent for the Lenders hereunder.            “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied   by the Administrative Agent.          “Affiliate”  means,  with  respect  to  a  specified  Person,  another  Person  that  directly,  or   indirectly through one or more intermediaries, Controls or is Controlled by or is under common   Control with the specified Person.          “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the   Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 1⁄2 of 1%, and (c)   the  Adjusted  LIBO  Rate  for  a  one  month  Interest  Period  on  such day  (or  if  such  day  is  not  a   Business Day, the immediately preceding Business Day) plus 1%, provided that for the purpose of   this definition, the Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate (or if   the LIBO Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at   approximately 11:00 a.m. London time on such day.  Any change in the Alternate Base Rate due to   a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from   and  including  the  effective  date  of  such  change  in  the  Prime  Rate,  the  NYFRB  Rate  or  the   Adjusted LIBO Rate, respectively.  If the Alternate Base Rate is being used as an alternate rate of                                          2  

 

                                                                                                                                                               interest pursuant to Section 2.14 hereof, then the Alternate Base Rate shall be the greater of clause   (a) and (b) above and shall be determined without reference to clause (c) above.  For the avoidance  of doubt, if the Alternate Base Rate as so determined would be less than zero, such rate shall be  deemed to be zero for purposes of this Agreement.          “Amendment No. 1” means Amendment No. 1 to Term Loan Credit Agreement, dated as   of July 18, 2017, by and among the Borrower, Holdings, the other Loan Parties party thereto, the   Lenders party thereto, and the Administrative Agent.             “Amendment No. 1 Effective Date” means July 18, 2017.            “Amendment No. 2 Effective Date” means May 29, 2018.            “Anti-Corruption  Laws”  means  all  laws,  rules,  and  regulations of  any  jurisdiction   applicable to Holdings or any of its Affiliates from time to time concerning or relating to bribery or   corruption.           “Applicable  Percentage”  means,  with  respect  to  any  Lender  of  any  Class,  a  percentage   equal to a fraction the numerator of which is the aggregate outstanding principal amount of the   Loans and unused Additional Term Loan Commitments of such Term Lender under the applicable   Class and the denominator of which is the aggregate outstanding principal amount of the Loans   and unused Term Commitments of all Term Lenders under the applicable Class.              “Applicable  Rate”  means,  for  any  day  occurring  on  or  after  the Amendment  No.  2   Effective Date, (x) with respect to any Eurodollar Loan, 2.50% per annum, and (y) with respect to   any ABR Loan, 1.50% per annum.            “Approved Fund” has the meaning assigned to such term in Section 9.04.            “Assignment  and  Assumption”  means  an  assignment  and  assumption  agreement  entered   into  by  a  Lender  and  an  assignee  (with  the  consent  of  any  party  whose  consent  is  required  by   Section 9.04),  and  accepted by the Administrative Agent, in the  form  of  Exhibit A  or  any  other   form approved by the Administrative Agent.             “Available Amount” means, at any time, an amount equal to, without duplication:            (a)   the sum, without duplication, of:                        (i)   $75,000,000; plus                      (ii)  50% of the Net Income of the Loan Parties for the period (taken as               one  accounting  period)  from  the  Effective  Date  to  the  end  of  Holdings’  most               recently  ended  fiscal  quarter  for  which  financial  statements  have  been  delivered               pursuant to Section 5.01(a) or (b) (or, in the case such Net Income for such period is               a deficit, minus 100% of such deficit) at such time; plus                                          (iii)  the  cumulative  amount  of cash  and  cash  equivalent  proceeds  from               (a) the sale of Qualified Equity Interests of Holdings after the Effective Date and on                                          3                                               

 

                                                                                                                                                                        or  prior  to  such  time  (including  upon  exercise  of  warrants  or  options)  which             proceeds have been contributed as equity to the capital of the Borrower and (b) the             Qualified Equity Interests of Holdings issued upon conversion of Indebtedness of             the  Borrower  or  the  Subsidiary  Guarantors  owed  to  a  Person  other than a Loan             Party  incurred  after  the  Effective  Date  (in  each  case  excluding  any  such             contribution by Borrower or any of the Subsidiary Guarantors); plus                                    (iv)  the aggregate amount of Declined Proceeds; plus                                        (v)   to the extent not included pursuant to clause (iii) above, an amount              equal to the aggregate amount of cash and the fair market value, as determined in              good faith by the Borrower, of marketable securities or other property contributed              to  the  capital  of  the  Borrower  after  the  Effective  Date  (excluding  any  such              contribution by any of the Loan Parties (other than Holdings)); minus                            (b)   the sum, without duplication, of:                (i)  any  amount  of  the  Available  Amount  used  to  make  Restricted Payments              pursuant to Section 6.08(a)(vii) and Restricted Debt Payments pursuant to Section             6.08(b)(v) after the Effective Date and on or prior to such time; plus                            (ii)  any  amount  of  the  Available  Amount  used  to  make  investments  pursuant  to              Section 6.04(r) after the Effective Date and on or prior to such time.                 “Bail-In  Action”  means  the  exercise  of  any  Write-Down  and  Conversion  Powers  by  the  applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.                “Bail-In  Legislation”  means,  with  respect  to  any  EEA  Member  Country  implementing  Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European  Union, the implementing law for such EEA Member Country from time to time which is described  in the EU Bail-In Legislation Schedule.                 “Banking Services” means each and any of the following bank services  provided  to  any  Loan  Party  or  its  Subsidiaries  by  any  Lender  or  any  of  its  Affiliates:  (a)  credit  cards  for  commercial  customers  (including,  without  limitation,  “commercial  credit  cards”  and  purchasing  cards),  (b)  stored  value  cards,  (c)  merchant  processing  services,  and  (d)  treasury  management  services  (including,  without  limitation,  controlled  disbursement,  automated  clearinghouse  transactions,  return  items,  any  direct  debit  scheme  or  arrangement,  overdrafts  and  interstate  depository network services).                      “Banking Services Obligations” means any and all obligations of the Loan Parties or their  Subsidiaries,  whether  absolute  or  contingent  and  howsoever  and whensoever  created,  arising,  evidenced  or  acquired  (including  all  renewals,  extensions  and  modifications  thereof  and  substitutions therefor) in connection with Banking Services.          “Bankruptcy  Code”  means  Title  11 of  the  United  States  Code  entitled  “Bankruptcy,”  as  now or hereafter in effect, or any successor thereto, as hereafter amended.                                         4                                             

 

                                                                                                                                                                   “Bankruptcy  Event”  means,  with  respect  to  any  Person,  when  such  Person  becomes  the  subject  of  a  bankruptcy  or  insolvency  proceeding,  or  has  had  a receiver,  conservator,  trustee,  administrator, custodian, assignee for the benefit of creditors or similar Person charged with the  reorganization or liquidation of its business, appointed for it, or, in the good faith determination of  the  Administrative  Agent,  has  taken  any  action  in  furtherance  of,  or  indicating  its  consent  to,  approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy  Event  shall  not  result  solely  by  virtue  of  any  ownership  interest,  or  the  acquisition  of  any  ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless  such ownership interest results in or provides such Person with immunity from the jurisdiction of  courts within the U.S. or from the enforcement of judgments or writs of attachment on its assets or  permits  such  Person  (or  such  Governmental  Authority  or  instrumentality)  to  reject,  repudiate,  disavow or disaffirm any contracts or agreements made by such Person.          “Beneficial  Owner”  means,  with  respect  to  any  U.S.  Federal  withholding  Tax,  the  beneficial owner, for U.S. Federal income tax purposes, to whom such Tax relates.          “Board” means the Board of Governors of the Federal Reserve System of the U.S.         “Borrower” means Global Brass and Copper, Inc., a Delaware corporation.         “Borrowing” means Loans of the same Type and Class, made, converted or continued on  the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.          “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with  Section 2.03.          “Burdensome Restrictions” means any consensual encumbrance or restriction of the type  described in clause (a) or (b) of Section 6.10.          “Business  Day”  means  any  day  that  is  not  a  Saturday,  Sunday  or other day on which  commercial banks in New York City are authorized or required by law to remain closed; provided  that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude  any day on which banks are not open for general business in London.            “Capital  Expenditures”  means,  without  duplication,  any  expenditure  or  commitment  to  expend money for any purchase or other acquisition of any asset which would be classified as a  capital  expenditure  on  a  consolidated  statement  of  cash  flows  of  Holdings  and  its  Subsidiaries  prepared in accordance with GAAP.           “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent  or  other  amounts  under  any  lease  of  (or  other  arrangement  conveying  the  right  to  use)  real  or  personal  property,  or  a combination  thereof,  which  obligations are  required to  be classified  and  accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of  such obligations shall be the capitalized amount thereof determined in accordance with GAAP.          “cash  equivalents”  means,  as  at  any  date  of  determination,  (a) securities  (i) issued  or                                         5                                             

 

                                                                                                                                                            directly  and  unconditionally  guaranteed  or  insured  as  to  interest  and  principal  by  the  U.S.  government or (ii) issued by any agency or instrumentality of the U.S., the obligations of which are  backed by the full faith and credit of the U.S., in each case maturing within one year after such  date and, in each case, repurchase agreements and reverse repurchase agreements relating thereto;  (b) direct obligations issued by any state of the U.S., or any political subdivision of any such state  or any public instrumentality thereof, in each case maturing within one year after such date and  having, at the time of the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from  Moody’s  (or,  if  at  any  time  neither  S&P  nor  Moody’s  shall  be  rating  such  obligations,  an  equivalent rating from  another nationally recognized statistical rating  organization)  and,  in  each  case,  repurchase  agreements  and  reverse  repurchase  agreements  relating  thereto;  (c) commercial  paper maturing no more than one year from the date of creation thereof and having, at the time of  the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from Moody’s (or, if at  any  time  neither  S&P  nor  Moody’s  shall  be  rating  such  obligations,  an  equivalent  rating  from  another nationally recognized statistical rating agency); (d) deposits, money market deposits, time  deposit accounts, certificates of deposit or bankers’ acceptances (or similar instruments) maturing  within  one  year  after  such  date  and  issued  or  accepted  by  any  Lender  or  by  any  bank  or  trust  company organized under, or authorized to operate as a bank or trust company under, the laws of  the U.S., any state thereof or the District of Columbia or any political subdivision thereof and that  has capital and surplus of not less than $500,000,000 and, in each case, repurchase agreements and  reverse repurchase agreements relating thereto; and (e) shares of any money market mutual fund  that has (i)  substantially all of its assets invested in the types of investments referred to in clauses  (a) through (d) above, (ii) net assets of not less than $500,000,000 and (iii) a rating of at least A-2  from S&P or at least P-2 from Moody’s.          “Change  in  Control”  means  (a)  the  acquisition  of  ownership,  directly  or  indirectly,  beneficially or of record, by any Person or group (within the meaning of the Securities Exchange  Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof), of Equity Interests  representing more than 35% of the aggregate ordinary voting power represented by the issued and  outstanding  voting  Equity  Interests  of  Holdings;  (b)   Holdings shall  cease  to  beneficially  own,  directly or indirectly, free and clear of all Liens or other encumbrances (other than Liens granted  under  the  Loan  Documents  or  the  ABL  Loan  Documents)  100%  of  the  issued  and  outstanding  Equity Interests of the Borrower; or (c) other than in connection with a merger, amalgamation or  consolidation permitted by this Agreement (including Section 6.03), the Borrower shall cease to  beneficially own, directly or indirectly, free and clear of all Liens or other encumbrances (other  than Liens granted under the Loan Documents or the ABL Loan Documents) 100% of the issued  and outstanding voting Equity Interests of each Loan Party (other than Holdings).          “Change in Law” means the occurrence after the date of this Agreement (or, with respect to  any Lender, such later date on which such Lender becomes a party to this Agreement) of any of the  following: (a) the adoption of or taking effect of any law, rule, regulation or treaty; (b) any change  in any law, rule, regulation or treaty or in the administration, interpretation or application thereof  by  any  Governmental  Authority;  or  (c)  compliance  by  any  Lender (or,  for  purposes  of  Section  2.15(b), by any lending office of such Lender or by such Lender’s holding company, if any) with  any request, guideline, requirement or directive (whether or not having the force of law) of any  Governmental  Authority  made  or  issued  after  the  date  of  this  Agreement;  provided  that,  notwithstanding  anything  herein  to  the  contrary,  (x)  the  Dodd-Frank  Wall  Street  Reform  and  Consumer Protection Act and all requests, rules, guidelines, requirements or directives thereunder                                         6                                             

 

                                                                                                                                                               or  issued  in  connection  therewith  or  in  the  implementation  thereof,  and  (y)  all  requests,  rules,   guidelines, requirements 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 or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be   deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or implemented.          “Charges” has the meaning assigned to such term in Section 9.17.            “CFC” means any existing or future direct or indirect subsidiary of the Borrower that is a   controlled foreign corporation for purposes of section 957 of the Code.           “Class”,  when  used  with  respect  to  (a)  any  Loan  or  Borrowing, refers  to  whether  such   Loan, or the Loans comprising such Borrowing, are Initial Term Loans, Additional Term Loans of   any series established as a separate “Class” pursuant to Section 2.23, 2.24 and/or 9.02(f) (b) any   Commitment, refers to whether such Commitment is an Initial Term Commitment, an Additional   Term Loan Commitment of any series established as a separate “Class” pursuant to Section 2.23,   2.24 and/or 9.02(f), and (c) any Lender, refers to whether such Lender has a Loan or Commitment   of a particular Class.           “Code” means the Internal Revenue Code of 1986, as amended from time to time.            “Collateral” means any and all property owned, leased or operated by a Person covered by   the  Collateral  Documents  and  any  and  all  other  property  of  any Loan  Party,  now  existing  or   hereafter  acquired,  that  may  at  any  time  be,  become  or  be  intended  to  be,  subject  to  a  security   interest or Lien in favor of the Administrative Agent, on behalf of itself and the Lenders and other   Secured  Parties,  to  secure  the  Secured  Obligations;  provided,  that  Excluded  Property  shall  be   excluded from the definition of Collateral.                       “Collateral  Access  Agreement”  has  the  meaning  assigned  to  such term in the Security   Agreement.                       “Collateral  Documents”  means,  collectively,  the  Security  Agreement  and  any  other   agreements,  instruments  and  documents  executed  in  connection  with  this  Agreement  that  are   intended to create, perfect or evidence Liens to secure the Secured Obligations, including, without   limitation, all other security agreements, pledge agreements, loan agreements, notes, guarantees,   subordination  agreements,  pledges,  powers  of  attorney,  consents,  assignments,  contracts,  fee   letters, notices, leases, financing statements and all other written matter whether theretofore, now  or hereafter executed by any Loan Party and delivered to the Administrative Agent in connection  with this Agreement or any other Loan Document.           “Commitment”  means,  with  respect  to  each  Lender,  such  Lender’s Initial Term Loan   Commitment and Additional Term Loan Commitment, as applicable, in effect as of such time.                 “Commitment Schedule” means the Schedule attached hereto identified as such.                  “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as   amended from time to time, and any successor statute.                                          7                                               

 

                                                                                                                                                                    “Commodity Swap Agreement” means any agreement with respect to any swap, forward,  future or derivative transaction or option or similar agreement involving or related to the conduct  of the Borrower’s operations, or settled by reference to one or more metal commodities, energy  commodities, interest rate derivatives, or foreign currency arrangements, in each case, entered in  the ordinary course of business consistent with past practice and not for any speculative purposes.        “Communications” has the meaning assigned to such term in Section 9.01(d).         “Connection  Income  Taxes”  means  Other  Connection  Taxes  that  are  imposed  on  or  measured  by  net  income  (however  denominated)  or  that  are  franchise  Taxes  or  branch  profits  Taxes.        “Consolidated Adjusted EBITDA” means, for any period, Net Income for such period plus,  the sum, without duplication, during such period of:        (i)   Net Interest Expense (Income);      (ii)  plus income tax expense as recorded in Holdings’ statement of consolidated operations;      (iii) plus all amounts attributable to depreciation and amortization expense;     (iv)  (a) minus any extraordinary income or (b) plus any extraordinary expense;      (v)   plus any other net expenses or charges that do not constitute reserves, whether or not           otherwise includable as a separate item in the statement of such Net Income, including           the following:            (1) (a) minus any gains or (b) plus any losses, in each case, due to the depletion of a              last-in-first-out layer of Inventory;           (2) (a) minus any gains or (b) plus any losses, in each case, due to recording lower of              cost or market adjustments to Inventory;            (3) (a)  minus  any  gains  or  (b)  plus  any  losses,  in  each  case,  incurred  due  to              restructuring  and  other  business  transformation  charges,  including  severance,  and              net  losses  from  disposed,  abandoned,  transferred,  closed,  or  discontinued              operations; provided that the amounts added back to Net Income pursuant to this              clause  (v)(3)  shall  not  exceed  $10,000,000  in  the  aggregate  during  any  trailing              twelve calendar month period; and           (4) plus non-cash share-based compensation activity from stock compensation awards              to employees and board of director members permitted under this Agreement;      (vi)  (a) minus any unrealized profits or (b) plus any unrealized losses, in each case, arising           from Swap Agreements (including Commodity Swap Agreements) of the Borrower and           its Subsidiaries;      (vii) (a)  minus  any  income  or  gain  or  (b)  plus  any  expenses  or  charges  incurred,  in  each           case,  as  a  result  of  the  early  extinguishment  of  Indebtedness  to  the  extent  included           within  the  Borrower’s  statement  of  operations  (excluding  Swap  Agreements,           Commodity Swap Agreements or other derivative instruments);      (viii) plus charges or expenses related to the Transactions;                                           8                                             

 

                                                                                                                                                                  (ix)  plus expenses incurred in connection with the prepayment, amendment, modification or            refinancing of Indebtedness during such period;       (x)   plus any transaction costs or charges incurred during such period in connection with an            actual or proposed incurrence of Indebtedness, including a refinancing, prepayment or            amendment  thereof,  or  any  issuance  of  Equity  Interests,  investment,  Acquisition            (whether  or  not  consummated),  disposition,  abandonment,  divestiture  or            recapitalization (in each case whether or not consummated) outside the ordinary course            of business; and      (xi)  plus  for  each  period  ending  on  or  prior  to  December  31,  2017,  excessive  audit,            consulting,  board  of  director  and other  expenses  incurred  to  operate  Holdings  as  a            public company in an aggregate amount not to exceed $1,500,000 during the trailing            twelve calendar month period then ended;     all calculated for Holdings and its Subsidiaries on a consolidated basis in accordance with GAAP.           “Consolidated Total Assets” means, as of the date of any determination thereof, total assets   of Holdings and its Subsidiaries calculated in accordance with GAAP on a consolidated basis as of   such date.            “Consolidated  Total  Indebtedness”  means  at  any  date  the  sum,  without  duplication,  of   (a) the aggregate Indebtedness of Holdings and its Subsidiaries calculated on a consolidated basis   as of such date in accordance with GAAP, (b) the aggregate amount of Indebtedness of Holdings   and its Subsidiaries relating to the maximum drawing amount of all letters of credit outstanding   and bankers acceptances and (c) Indebtedness of the type referred to in clauses (a) or (b) hereof of   another Person guaranteed by Holdings or any of its Subsidiaries; provided that no Indebtedness   under  any  Commodity  Swap  Agreement  shall  be  included  in  the  determination  of  Consolidated   Total Indebtedness.            “Control” means the possession, directly or indirectly, of the power to direct or cause the   direction of the management or policies of a Person, whether through the ability to exercise voting  power,  by  contract  or  otherwise.   “Controlling”  and  “Controlled”  have  meanings  correlative   thereto.            “Control Investment Affiliate” means, as to any Person, any other Person that (a) directly   or indirectly, is in control of, is controlled by, or is under common control with, such Person and   (b) is organized by such Person primarily for the purpose of making equity or debt investments in   one or more companies.                  “Credit Party” means the Administrative Agent or any other Lender.            “Declined Proceeds” has the meaning assigned to such term in Section 2.11(b).            “Default”  means  any  event  or  condition  which  constitutes  an  Event  of Default  or which   upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.                       “Defaulting  Lender”  means  any  Lender  that  has  become  the  subject  of  (i)  a  Bankruptcy                                          9                                               

 

                                                                                                                                                            Event or (ii) a Bail-In Action.          “Disclosed  Matters”  means  the  actions,  suits,  proceedings  and environmental  matters  disclosed in Schedule 3.06.          “Disregarded Domestic Subsidiary” means a Domestic Subsidiary that is disregarded as an  entity separate from its owner under § 301.7701-3 of the United States Treasury Regulations and  owns  Equity  Interests  of  a  CFC (directly  or  indirectly  through another  entity  disregarded  as  an  entity separate from its owner under § 301.7701-3 of the United States Treasury Regulations).          “Disqualified Equity Interests” means any Equity Interest which, by its terms (or by the  terms  of  any  security  into  which  it  is  convertible  or  for  which  it  is  exchangeable),  or  upon  the  happening  of  any  event,  (a) matures  (excluding  any  maturity  as the  result  of  an  optional  redemption by the issuer thereof) or is mandatorily redeemable (other than for Qualified Equity  Interests), pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the  holder thereof (other than for Qualified Equity Interests), in whole or in part, on or prior to 91 days  following the Latest Maturity Date at the time such Equity Interest is issued (it being understood  that if any such redemption is in part, only such part coming into effect prior to 91 days following  the  Latest  Maturity  Date  shall  constitute  a  Disqualified  Equity  Interest),  (b) is  or  becomes  convertible  into  or  exchangeable  (unless  at  the  sole  option  of the  issuer  thereof)  for  (i) debt  securities or (ii) any Equity Interest that would constitute a Disqualified Equity Interest, in each  case at any time on or prior to 91 days following the Latest Maturity Date at the time such Equity  Interest  is  issued,  (c) contains  any  mandatory  repurchase  obligation  or  any  other  repurchase  obligation at the option of the holder thereof (other than for Qualified Equity Interest), in whole or  in part, which may come into effect prior to 91 days following the Latest Maturity Date at the time  such Equity Interest is issued (it being understood that if any such repurchase obligation is in part,  only  such  part  coming  into  effect  prior  to  91  days  following  the  Latest  Maturity  Date  shall  constitute a Disqualified Equity Interest) or (d) provides for the scheduled payments of dividends  in cash on or prior to 91 days following the Latest Maturity Date at the time such Equity Interest is  issued; provided that any Equity Interest that would not constitute a Disqualified Equity Interest  but for provisions thereof giving holders thereof (or the holders of any security into or for which  such  Equity  Interest  is  convertible,  exchangeable  or  exercisable)  the  right  to  require  the  issuer  thereof  to  redeem  such  Equity  Interest  upon  the  occurrence  of  any  Change  in  Control  or  any  disposition occurring prior to 91 days following the Latest Maturity Date at the time such Equity  Interest is issued shall not constitute a Disqualified Equity Interest if such Equity Interest provides  that the issuer thereof will not redeem any such Equity Interest pursuant to such provisions prior to  the date that all Commitments have expired or terminated and the principal of and interest on each  Loan  and  all  fees,  expenses  and other  amounts  payable  under  any  Loan  Document  (other  than  contingent indemnification obligations for which no claim or demand has been made) have been  paid in full in cash.         “dollars” or “$” refers to lawful money of the U.S.          “Domestic  Subsidiary”  means  a  Subsidiary  organized  under  the  laws  of  a  jurisdiction  located in the U.S.         “Domestic Subsidiary Holding Company” means (i) any Domestic Subsidiary substantially                                        10                                             

 

                                                                                                                                                               all of the assets of which consist of Equity Interests and/or debt interests of one or more CFCs, so   long  as  such  Domestic  Subsidiary  does  not  conduct  any  business or  activity  other  than  the  ownership of such Equity Interests and/or debt interests and does not incur, and is not otherwise  liable  for,  any  indebtedness  or  other  liabilities  or  (ii)  any  Disregarded  Domestic  Subsidiary;  provided that no Person that is a Subsidiary of Holdings on the Effective Date shall be a Domestic   Subsidiary Holding Company.            “Dutch Auction” means an auction (an “Auction”) conducted by the Borrower or one (1)   of its Subsidiaries in order to purchase Loans in accordance with the following procedures:            (a)   Notice  Procedures.   In  connection  with  an  Auction,  the  Borrower  will  provide         notification to the Administrative Agent (for distribution to the relevant Term Lenders) of         the Loans that will be subject to the Auction (an “Auction Notice”).  Each Auction Notice         shall be in a form reasonably acceptable to the Administrative Agent and shall contain (i)         the  total  cash  value  of  the bid,  in  a  minimum  amount  of  $5,000,000  with  minimum        increments of $1,000,000 (the “Auction Amount”), (ii) the discount to par, which shall be a         range (the “Discount Range”) of percentages of the par principal amount of the Loans at         issue that represents the range of purchase prices that could be paid in the Auction and (iii)         be extended, at the sole discretion of the Borrower, to (x) each Term Lender with respect to         any Loan of any Class.           (b)    Reply  Procedures.   In  connection  with  any  Auction,  each  relevant  Term  Lender         may, in its sole discretion, participate in such Auction and may provide the Administrative        Agent with a notice of participation (the “Return Bid”) which shall be in a form reasonably         acceptable to the Administrative Agent and shall specify (i) a discount to par that must be         expressed  as  a  percentage  (the  “Reply  Discount”),  which  must  be  within  the  Discount         Range, and (ii) a principal amount of such Loans which must be in increments of $500,000         (the “Reply Amount”).  A Term Lender may avoid the minimum amount condition solely         when submitting a Reply Amount equal to the Term Lender’s entire remaining amount of         such Class of Loans.  Term Lenders may only submit one (1) Return Bid per Auction but         each  Return  Bid  may  contain  up  to  three  (3)  bids  only  one  (1)  of  which  can  result  in  a         Qualifying Bid (as defined below).  In addition to the Return Bid, the participating Term         Lender  must  execute  and  deliver,  to  be  held  in  escrow  by  the  Administrative  Agent,  an         Assignment and Assumption with the dollar amount of the Loan to be left in blank, which         amount  shall  be  completed  by  the  Administrative  Agent  in  accordance  with  the  final         determination of such Term Lender’s Qualifying Bid pursuant to subclause (c) below.           (c)   Acceptance  Procedures.   Based  on  the  Reply  Discounts  and  Reply  Amounts         received by the Administrative Agent, the Administrative Agent, in consultation with the         Borrower,  will  determine  the  applicable  discount  (the  “Applicable  Discount”)  for  the         Auction, which will be the lowest Reply Discount for which the Borrower can complete the         Auction at the Auction Amount; provided that, in the event that the Reply Amounts are         insufficient to allow the Borrower to complete a purchase of the entire Auction Amount         (any  such  Auction,  a  “Failed  Auction”),  the  Borrower  shall  either,  at  its  election,  (i)         withdraw the Auction or (ii) complete the Auction at an Applicable Discount equal to the         highest  Reply  Discount.   The  Borrower  shall  purchase  the  applicable  Loans  (or  the         respective  portions  thereof)  from  each  such  Term  Lender  with  a Reply  Discount  that  is                                         11                                               

 

                                                                                                                                                                     equal  to  or  greater  than  the  Applicable  Discount  (“Qualifying  Bids”)  at  the  Applicable         Discount;  provided that,  if  the  aggregate  proceeds required  to  purchase  all  such  Loans         subject  to  Qualifying  Bids  would  exceed  the  Auction  Amount  for such  Auction,  the         Borrower  shall  purchase  such  Loans  at  the  Applicable  Discount  ratably  based  on  the         principal amounts of such Qualifying Bids (subject to rounding requirements specified by         the  Administrative  Agent).   If  a  Term  Lender  has  submitted  a  Return  Bid  containing         multiple bids at different Reply Discounts, only the bid with the highest Reply Discount         that is equal to or greater than the Applicable Discount will be deemed the Qualifying Bid         of such Term Lender.  Each participating Term Lender will receive notice of a Qualifying         Bid as soon as reasonably practicable but in no case later than five (5) Business Days from         the date the Return Bid was due.            (d)   Additional  Procedures.   Furthermore,  in  connection  with  any  Auction,  upon         submission by a Term Lender of a Qualifying Bid, such Term Lender will be obligated to         sell the entirety or its allocable portion of the Reply Amount, as the case may be, at the         Applicable Discount.           “ECP”  means  an  “eligible  contract  participant”  as  defined  in  Section  1(a)(18)  of  the   Commodity  Exchange  Act  or  any  regulations  promulgated  thereunder  and  the  applicable  rules   issued by the Commodity Futures Trading Commission and/or the SEC.             “EEA  Financial  Institution”  means  (a)  any  institution  established in any EEA Member   Country  which  is  subject  to  the  supervision  of  an  EEA  Resolution  Authority,  (b)  any  entity   established in an EEA Member Country which is a parent of an institution described in clause (a)  of  this  definition,  or  (c)  any  institution  established  in  an  EEA  Member  Country  which  is  a  subsidiary  of  an  institution  described  in  clauses  (a)  or  (b)  of  this  definition  and  is  subject  to  consolidated supervision with its parent.           “EEA Member Country” means any of the member states of the European Union, Iceland,   Liechtenstein, and Norway.            “EEA  Resolution  Authority”  means  any  public  administrative  authority  or  any  Person   entrusted  with  public  administrative  authority  of  any  EEA  Member  Country  (including  any   delegee) having responsibility for the resolution of any EEA Financial Institution.            “Effective  Date”  means  the  date  on  which  the  conditions  specified  in  Section 4.01  are   satisfied (or waived in accordance with Section 9.02).                        “Effective  Date  Debt  Repayments”  means,  collectively,  the  repayment  in  full  on  the   Effective Date of all of the existing Indebtedness outstanding and the termination of any remaining   commitments and obligations with respect thereto as of the Effective Date under the Borrower’s   (a)  existing  amended  and  restated  asset  based  revolving  credit facility,  dated  as  of  August  15,   2010, and (b) existing 9.50% Senior Secured Notes due 2019 (the “Senior Secured Notes”), issued   under  that  certain  Indenture,  dated  as  June  1,  2012,  in  each  case  as  amended,  supplemented  or   otherwise modified from time to time prior to the date hereof.          “Effective  Yield”  means,  as  to  any  Indebtedness,  the  effective yield  applicable  thereto   calculated by the Administrative Agent in consultation with the Borrower in a manner consistent                                         12                                               

 

                                                                                                                                                            with  generally  accepted  financial  practices,  taking  into  account  (a)  interest  rate  margins,  (b)  interest  rate  floors  (subject  to the  proviso  set  forth  below), (c)  any  amendment  to  the  relevant  interest rate margins and interest rate floors prior to the applicable date of determination and (d)  original issue discount and upfront or similar fees (based on an assumed four-year average life to  maturity  or  lesser  remaining  average  life  to  maturity),  but  excluding  (i)  any  arrangement,  commitment,  structuring,  underwriting  and/or  amendment  fees  (regardless  of  whether  any  such  fees are paid to or shared in whole or in part with any lender) and (ii) any other fee that is not  payable  to  all  relevant  lenders  generally;  provided,  however,  that  (A)  to  the  extent  that  the  Adjusted LIBO Rate or Alternate Base Rate (without giving effect to any floor specified in the  definition thereof) is less than any floor applicable to the loans in respect of which the Effective  Yield is being calculated on the date on which the Effective Yield is determined, the amount of the  resulting  difference  will  be  deemed  added  to  the  interest  rate margin  applicable  to  the  relevant  Indebtedness for purposes of calculating the Effective Yield and (B) to the extent that the Adjusted  LIBO Rate (for a period of three months) or Alternate Base Rate (without giving effect to any floor  specified in the definition thereof) is greater than any applicable floor on the date on which the  Effective Yield is determined, the floor will be disregarded in calculating the Effective Yield.  Any  determination by the Administrative Agent of the Effective Yield shall be conclusive and binding  on all Lenders absent demonstrable error and the Administrative Agent shall have no liability to  any  Person  with  respect  to  such  determination  absent  bad  faith,  gross  negligence  or  willful  misconduct.         “Electronic  Signature”  means  an  electronic  sound,  symbol,  or  process  attached  to,  or  associated  with,  a  contract  or  other  record  and  adopted  by  a  Person  with  the  intent  to  sign,  authenticate or accept such contract or record.         “Electronic  System”  means  any  electronic  system,  including  e-mail,  e-fax,  web  portal  access for the Borrower, Intralinks®, ClearPar®, Debt Domain, Syndtrak and any other Internet or  extranet-based  site,  whether  such  electronic  system  is  owned,  operated  or  hosted  by  the  Administrative Agent and any of its respective Related Parties or any other Person, providing for  access to data protected by passcodes or other security system.         “Eligible Assignee” means (a) any Lender, (b) any commercial bank, insurance company,  or finance company, financial institution, any fund that invests in loans or any other “accredited  investor” (as defined in Regulation D of the Securities Act), (c) any Affiliate of any Lender and (d)  any  Approved  Fund  of  any  Lender;  provided  that  in  no  event  shall  an  Ineligible  Institution  constitute an Eligible Assignee.               “Environmental  Laws”  means  all  laws,  rules,  regulations,  codes,  ordinances,  orders,  decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into  by  any  Governmental  Authority,  relating  in  any  way  to  the  environment,  preservation  or  reclamation of natural resources, the management, Release or threatened Release of any Hazardous  Material or to health and safety matters.         “Environmental  Liability”  means  any  liability,  contingent  or  otherwise  (including  any  liability  for  damages,  costs  of  environmental  remediation,  fines,  penalties  or  indemnities),  of  Holdings or any Subsidiary directly or indirectly resulting from or based upon (a) any violation of  any  Environmental  Law,  (b) the  generation,  use,  handling,  transportation,  storage,  treatment  or  disposal of any Hazardous Materials, (c) any exposure to any Hazardous Materials, (d) the Release                                        13                                             

 

                                                                                                                                                            or  threatened  Release  of  any  Hazardous  Materials  into  the  environment  or  (e)  any  contract,  agreement or other consensual arrangement pursuant to which liability is assumed or imposed with  respect to any of the foregoing.          “Equipment” has the meaning assigned to such term in the Security Agreement.         “Equity Interests” means shares of capital stock, partnership interests, membership interests  in a limited liability company, beneficial interests in a trust or other equity ownership interests in a  Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire  any of the foregoing.          “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from  time to time.         “ERISA Affiliate” means any trade or business (whether or not incorporated) that, together  with any Loan Party, is treated as a single employer under Section 414(b) or (c) of the Code or,  solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single  employer under Section 414 of the Code.         “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or  the regulations issued thereunder, with respect to a Plan (other than an event for which the 30-day  notice period is waived); (b) the failure to satisfy the “minimum funding standard” (as defined in  Section 412 of the Code or Section 302 of ERISA), whether or not waived; (c) the filing pursuant  to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the  minimum funding standard with respect to any Plan; (d) the incurrence by any Loan Party or any  ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any  Plan;  (e) the  receipt  by  any  Loan  Party  or  any  ERISA  Affiliate from the PBGC or a plan  administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a  trustee to administer any Plan; (f) the incurrence by any Loan Party or any ERISA Affiliate of any  liability  with  respect  to  the  withdrawal  or  partial  withdrawal of  any  Loan  Party  or  any  ERISA  Affiliate  from  any  Multiemployer  Plan;  or  (g) the  receipt  by  any  Loan  Party  or  any  ERISA  Affiliate  of  any  notice,  or  the  receipt  by  any  Multiemployer  Plan  from  any  Loan  Party  or  any  ERISA  Affiliate  of  any  notice,  concerning  the  imposition  upon  any  Loan  Party  or  any  ERISA  Affiliate of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to  be, insolvent or in reorganization, within the meaning of Title IV of ERISA.          “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published  by the Loan Market Association (or any successor Person), as in effect from time to time.           “Eurodollar”,  when  used  in  reference  to  any  Loan  or  Borrowing, refers to whether such  Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to  the Adjusted LIBO Rate.          “Event of Default” has the meaning assigned to such term in Article VII.          “Excess Cash Flow” means, for any fiscal year period of Holdings beginning with the fiscal  year ending December 31, 2017, the excess, if any, of the sum, without duplication, of (a) less (b)                                        14                                             

 

                                                                                                                                                            less (c) where each are defined and shown within Holding’s consolidated statement of cash flows  for such period as follows:                (a) cash flow from operations;         (b) cash flow from investing activities; and        (c) the sum, without duplication, of all of the following as included within net cash flows           from financing activities:           (i)  payments of principal on Indebtedness for borrowed money (other than in respect of           any revolving credit facility to the extent there is not an equivalent permanent reduction           in commitments thereunder); plus           (ii)  premiums paid to retire or repurchase Indebtedness for borrowed money; plus           (iii) principal payments under Capital Lease Obligations; plus           (iv) dividends paid pursuant to Sections 6.08(a)(vi), 6.08(a)(vii) and 6.08(a)(viii); plus           (v) share repurchases pursuant to Section 6.08(a)(iii) (excluding those related to stock    compensation awards);               provided that if the sum of the foregoing shall be less than zero, such amount shall be deemed     to be zero for purposes of this Agreement.                “Excluded  Domestic  Subsidiary”  means  (a) any  Domestic  Subsidiary  Holding  Company  and (b) any Domestic Subsidiary that is a direct or indirect subsidiary of a Foreign Subsidiary.                “Excluded Property” has the meaning assigned to such term in the Security Agreement.                “Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation  if, and to the extent that, all or a portion of the Guarantee of such Guarantor of, or the grant by  such Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is  or  becomes  illegal  under  the  Commodity  Exchange  Act  or  any  rule,  regulation  or  order  of  the  Commodity  Futures  Trading  Commission  (or  the  application  or  official  interpretation  of  any  thereof) by virtue of such Guarantor’s failure for any reason to constitute an ECP at the time the  Guarantee  of  such  Guarantor  or  the  grant  of  such  security  interest  becomes  or  would  become  effective  with  respect  to  such  Swap  Obligation.   If  a  Swap  Obligation  arises  under  a  master  agreement governing more than one swap, such exclusion shall apply only to the portion of such  Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or  becomes illegal.                “Excluded  Taxes”  means  any  of  the  following  Taxes  imposed  on  or with respect to a  Recipient or required to be withheld or deducted from a payment to a Recipient: (a) Taxes imposed  on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes,  in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having  its  principal  office  or,  in  the  case  of  any  Lender,  its  applicable  lending  office  located  in,  the  jurisdiction  imposing  such  Tax  (or  any  political  subdivision  thereof)  or  (ii)  that  are  Other  Connection  Taxes;  (b)  in  the  case  of  a  Lender,  U.S.  Federal  withholding  Taxes  imposed  on  amounts payable to or for the account of such Lender with respect to an applicable interest in a  Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires  such  interest  in  the  Loan  or  Commitment  (other  than  pursuant  to  an  assignment  request  by  the  Borrower under Section 2.19(b)) or (ii) such Lender changes its lending office, except in each case                                        15                                             

 

                                                                                                                                                               to the extent that, pursuant to Section 2.17, amounts with respect to such Taxes were payable either   to  such  Lender’s  assignor  immediately  before  such  Lender  acquired  the  applicable  interest  in  a   Loan or Commitment or to such Lender immediately before it changed its lending office; (c) Taxes   attributable to such Recipient’s failure to comply with Section 2.17(f); and (d) any U.S. Federal   withholding Taxes imposed under FATCA.                  “Extended Term Loans” has the meaning assigned to such term in Section 2.24(a).            “Extension” has the meaning assigned to such term in Section 2.24(a).           “Extension  Amendment”  means  an  amendment  to  this  Agreement  that  is  reasonably   satisfactory  to  the  Administrative  Agent  (for  purposes  of  giving  effect  to  Section  2.24)  and  the   Borrower executed by each of (a) Holdings, the Borrower and the Subsidiary Guarantors, (b) the   Administrative  Agent  and  (c)  each  Lender  that  has  accepted  the applicable  Extension  Offer   pursuant hereto and in accordance with Section 2.24.           “Extension Offer” has the meaning assigned to such term in Section 2.24(a).            “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement   (or  any  amended  or  successor  version  that  is  substantively  comparable  and  not  materially  more   onerous to comply with), any current or future regulations or official interpretations thereof and   any  agreement  entered  into  pursuant  to  Section 1471(b)(1)  of  the  Code,  any  intergovernmental  agreements  implementing  any  of  the  foregoing,  and  any  laws  with  respect  to  such  intergovernmental agreements.           “Federal  Funds  Effective  Rate”  means,  for  any  day,  the  rate  calculated  by  the  NYFRB   based on such day’s federal funds transactions by depositary institutions (as determined in such   manner as the NYFRB shall set forth on its public website from time to time) and published on the   next  succeeding  Business  Day  by  the  NYFRB  as  the  federal  funds effective  rate.   For  the   avoidance of doubt, if the Federal Funds Effective Rate shall be less than zero, such rate shall be   deemed to be zero for purposes of this Agreement.           “Financial Officer” means the chief financial officer, principal accounting officer, treasurer   or controller of the Borrower or Holdings.           “Fixed Charge Coverage Ratio” means, at any date, the ratio of (a) Consolidated Adjusted   EBITDA minus Unfinanced Capital Expenditures (excluding capitalized interest) minus expenses   for Taxes paid in cash to (b) Fixed Charges, all calculated for the Test Period ended on such date   (or, if such date is not the last day of a fiscal quarter, ended on the last day of the fiscal quarter   most recently ended prior to such date).           “Fixed Charges” means, for any period, without duplication, Interest Expense paid in cash,   plus scheduled principal payments on Indebtedness paid or payable in cash minus interest income   received  in  cash,  all  calculated  for  Holdings  and  its  Subsidiaries  on  a  consolidated  basis  in  accordance with GAAP.              “Fixed Incremental Amount” means (a) $75,000,000 minus (b) the aggregate outstanding                                         16                                               

 

                                                                                                                                                               principal amount of all loans made under any Incremental Facilities and/or Incremental Equivalent   Debt incurred or extended in reliance on the Fixed Incremental Amount.           “Fixtures” has the meaning assigned to such term in the Security Agreement.            “Flood Laws” has the meaning assigned to such term in Section 8.10.            “Foreign Lender” means (a) if the Borrower is a U.S. Person, a Lender that is not a U.S.   Person, and (b) if the Borrower is not a U.S. Person, a Lender that is resident or organized under   the laws of a jurisdiction other than that in which the Borrower is resident for Tax purposes.           “Foreign Subsidiary” means any Subsidiary which is not a Domestic Subsidiary.            “Funded Debt” means as to any Person, all Indebtedness of such Person that matures more   than  one  year  from  the  date  of  its  creation  or  matures  within  one  year  from  such  date  but  is   renewable or extendible, at the option of such Person, to a date more than one year from such date   or arises under a revolving credit or similar agreement that obligates the lender or lenders to extend   credit during a period of more than one year from such date, including all current maturities and   current sinking fund payments in respect of such Indebtedness whether or not required to be paid  within one year from the date of its creation and, in the case of the Loan Parties, Indebtedness in  respect of the Loans.          “Funding Account” has the meaning assigned to such term in Section 4.01(i).            “GAAP” means generally accepted accounting principles in the U.S.            “Governmental  Authority”  means  the  government  of  the  U.S.,  any  other  nation  or  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.           “Guarantee”  of  or  by  any  Person (the  “guarantor”)  means  any  obligation,  contingent  or   otherwise,  of  the  guarantor  guaranteeing  or  having  the  economic  effect  of  guaranteeing  any   Indebtedness  or  other  obligation  of  any  other  Person  (the  “primary  obligor”)  in  any  manner,   whether  directly  or  indirectly, and  including  any  obligation  of  the  guarantor,  direct  or  indirect,  (a) to  purchase  or  pay  (or  advance  or  supply  funds  for  the  purchase  or  payment  of)  such   Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of)   any security for the payment thereof, (b) to purchase or lease property, securities or services for the   purpose  of assuring  the  owner  of such  Indebtedness  or  other  obligation  of  the  payment thereof,  (c) to  maintain  working  capital,  equity  capital  or  any  other  financial  statement  condition  or  liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or  other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty  issued  to  support  such  Indebtedness  or  obligation;  provided  that  the  term  Guarantee  shall  not   include endorsements for collection or deposit in the ordinary course of business.            “Guaranteed Obligations” has the meaning assigned to such term in Section 10.01.                                             17                                               

 

                                                                                                                                                                 “Guarantors” means all Loan Guarantors and all non-Loan Parties who have delivered an  Obligation Guaranty, and the term “Guarantor” means each or any one of them individually.  For  the avoidance of doubt, no Excluded Domestic Subsidiary (except a Domestic Subsidiary Holding  Company) shall serve as a Guarantor.                     “Hazardous Materials” means:  (a) any substance, material, or waste that is included within  the  definitions  of  “hazardous  substances,”  “hazardous  materials,”  “hazardous  waste,”  “toxic  substances,”  “toxic  materials,”  “toxic  waste,”  or  words  of  similar  import  in  any  Environmental  Law;  (b)  those  substances  listed  as  hazardous  substances  by  the  United  States  Department  of  Transportation (or any successor agency) (49 C.F.R. 172.101 and amendments thereto) or by the  Environmental Protection Agency (or any successor agency) (40 C.F.R. Part 302 and amendments  thereto);  and  (c)  any  substance,  material,  or  waste  that  is  petroleum,  petroleum-related,  or  a  petroleum  by-product,  asbestos  or  asbestos-containing  material,  polychlorinated  biphenyls,  flammable,  explosive,  radioactive,  freon  gas,  radon,  or  a  pesticide,  herbicide,  or  any  other  agricultural chemical.          “Holdings” means Global Brass and Copper Holdings, Inc., a Delaware corporation.          “Impacted  Interest  Period”  has  the  meaning  assigned  to  such  term  in  the  definition  of  “LIBO Rate.”         “Incremental Cap” means               (a)   the Fixed Incremental Amount, plus               (b)   an unlimited amount so long as, in the case of this clause (b), after giving  effect to the relevant Incremental Facility or Incremental Equivalent Debt, the Net Senior Secured  Leverage  Ratio  does  not  exceed  2.50:1.00  (such  amount  under  this  clause  (b),  the  “Ratio-Based  Incremental  Amount”),  determined  on  a  pro  forma  basis  after  giving  effect  to  such  Incremental  Facility or Incremental Equivalent Debt, including the application of the proceeds thereof (without  “netting” the cash proceeds of the applicable Incremental Facility or Incremental Equivalent Debt  on the consolidated balance sheet of Holdings).          It is understood and agreed that all or any portion of an Incremental Facility or Incremental  Equivalent Debt shall first be requested under the Ratio-Based Incremental Amount basket.  If no  amount is available for such Incremental Facility or Incremental Equivalent Debt under the Ratio- Based Incremental Amount basket, or if only a portion of such Incremental Facility or Incremental  Equivalent Debt is available under the Ratio-Based Incremental Amount basket, then the Borrower  may request that such Incremental Facility or Incremental Equivalent Debt or portion thereof, as the  case  may be, be extended under the  Fixed Incremental  Amount basket (subject to the availability  thereof).   Any  portion  of  the  Fixed  Incremental  Amount  used  to fund  an  Incremental  Facility  or  Incremental Equivalent Debt shall not be available for future extensions of incremental term loans.        “Incremental Commitment” means any commitment made by a lender to provide all or any  portion of any Incremental Term Loans.         “Incremental  Equivalent  Debt”  means  Indebtedness  in  the  form  of  secured  or  unsecured  notes or loans or junior secured or unsecured notes or loans and/or commitments in respect of any                                        18                                             

 

 of the foregoing extended, incurred or implemented in lieu of loans under an Incremental Facility;   provided, that:                (a)   the aggregate outstanding amount thereof shall not exceed the Incremental Cap,               (b)   except as otherwise agreed by the lenders or holders providing such notes or loans, no Event of Default exists immediately prior to or after giving effect to such notes or loans,               (c)   the  Weighted  Average  Life  to  Maturity  applicable  to  such  notes or  loans (other than customary bridge loans with a maturity date of no longer than one year; provided, that   any  loans,  notes,  securities  or other  Indebtedness  which  are  exchanged  for  or  otherwise  replace   such  bridge  loans  shall  be  subject  to  the  requirements  of  this clause  (c))  is  no  shorter  than  the   Weighted Average Life to Maturity of the then-existing Loans,                (d)   the  final  maturity  date  with  respect  to  such  notes  or  loans  (other  than  customary bridge loans with a maturity date of no longer than one year; provided, that any loans,   notes, securities or other Indebtedness which are exchanged for or otherwise replace such bridge   loans shall be subject to the requirements of this clause (d)) is no earlier than the Latest Term Loan   Maturity Date on the date of the issuance or incurrence, as applicable, thereof,                (e)   in the case of any such Indebtedness in the form of term loans that are pari  passu  with  the  Initial  Term  Loans  in  right  of  payment  and  with respect  to  security  (other  than   customary bridge loans), the Effective Yield applicable thereto will not be more than 0.50% per   annum higher than the Effective Yield in respect of the Initial Term Loans unless the Effective   Yield  with  respect  to  the  Initial  Term  Loans  is  adjusted  to  be equal  to  the  Effective  Yield   applicable to such Indebtedness, minus 0.50% per annum,                (f)   any such Indebtedness may not participate on a greater than pro rata basis in any voluntary or mandatory prepayment in respect of the Initial Term Loans (and any Additional  Term Loans then subject to ratable repayment requirements),                (g)   no such Indebtedness may be (x) guaranteed by any Person which is not a Loan Party or (y) secured by any assets other than the Collateral, and               (h)   in the case any such Indebtedness is pari passu with or subordinated to any then-existing tranche of Loans in right of payment or security, it shall be subject to an Acceptable  Intercreditor Agreement.         “Incremental Facilities” has the meaning assigned to such term in Section 2.23(a).          “Incremental  Facility  Amendment”  means  an  amendment  to  this  Agreement  that  is   reasonably satisfactory to the Administrative Agent (solely for purposes of giving effect to Section   2.23)  and  the  Borrower  executed  by  each  of  (a)  Holdings,  the  Borrower  and  the  Subsidiary   Guarantors,  (b)  the  Administrative  Agent  and  (c)  each  Lender  that  agrees  to  provide  all  or  any   portion of the Incremental Facility being incurred pursuant thereto and in accordance with Section   2.23.                                          19  

 

                                                                                                                                                                 “Incremental Term Facility” has the meaning assigned to such term in Section 2.23(a).         “Incremental Term Loans” has the meaning assigned to such term in Section 2.23(a).           “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person  for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such  Person  evidenced  by  bonds,  debentures,  notes or  similar  instruments,  (c) all  obligations  of  such  Person upon which interest charges are customarily paid, (d) all obligations of such Person under  conditional sale or other title retention agreements relating to property acquired by such Person,  (e) all obligations of such Person in respect of the deferred purchase price of property or services  (excluding accounts payable incurred in the ordinary course of business which are not more than  90  days  past  due),  (f) all  Indebtedness  of  others  secured  by  (or  for  which  the  holder  of  such  Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property  owned  or  acquired  by  such  Person,  whether  or  not  the  Indebtedness  secured  thereby  has  been  assumed,  (g) all  Guarantees  by such  Person  of  Indebtedness  of  others,  (h) all  Capital  Lease  Obligations  of  such  Person,  (i) all  obligations,  contingent  or otherwise,  of  such  Person  as  an  account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or  otherwise,  of  such  Person  in  respect  of  bankers’  acceptances,  (k)  obligations under any  earnout  that  has  become  due  and  payable  (but  has  not  been  paid)  pursuant  to  an  Acquisition  and  as  reflected on the balance sheet of such Person in accordance with GAAP, (l) any other Off-Balance  Sheet  Liability  and  (m)  obligations,  whether  absolute  or  contingent  and  howsoever  and  whensoever  created,  arising,  evidenced  or  acquired  (including  all  renewals,  extensions  and  modifications  thereof  and  substitutions  therefor),  under  (i)  any  and  all Swap  Agreements  (other  than any Commodity Swap Agreements), and (ii) any and all cancellations, buy backs, reversals,  terminations or assignments of any Swap Agreement transaction (other than any Commodity Swap  Agreement  transaction).   The  Indebtedness  of  any  Person  shall  include  the  Indebtedness  of  any  other entity (including any partnership in which such Person is a general partner) to the extent such  Person is liable therefor as a result of such Person’s ownership interest in or other relationship with  such entity, except to the extent the terms of such Indebtedness provide that such Person is not  liable therefor.          “Indemnified  Taxes”  means  (a)  Taxes,  other  than  Excluded  Taxes,  imposed  on  or  with  respect to any payment made by, or on account of any obligation of any Loan Party under any  Loan Document and (b) to the extent not otherwise described in the foregoing clause (a) hereof,  Other Taxes.         “Indemnitee” has the meaning assigned to such term in Section 9.03(b).         “Ineligible Institution” has the meaning assigned to such term in Section 9.04(b).          “Information” has the meaning assigned to such term in Section 9.12.          “Information Memorandum” means the Confidential Information Memorandum dated June  16, 2016 relating to the Borrower and the Transactions.         “Initial  Term  Lender”  means  any  Lender  with  an  Initial  Term  Loan  Commitment  or  an  outstanding Initial Term Loan.                                        20                                             

 

                                                                                                                                                                       “Initial  Term  Loan  Commitment”  means,  with  respect  to  each  Term  Lender,  the   commitment of such Term Lender to make Initial Term Loans hereunder in an aggregate amount   not  to  exceed  the  amount  set  forth  opposite  such  Term  Lender’s name  on  the  Commitment   Schedule,  as  the  same  may  be  (a)  reduced  from  time  to  time  pursuant  to  Section  2.09  and  (b)   reduced  or  increased  from  time  to  time  pursuant  to  (i)  assignments  by  or  to  such  Term  Lender   pursuant  to  Section  9.04  or  (ii)  increased  from  time  to  time  pursuant  to  Section 2.23.   The   aggregate amount of the Term Lenders’ Initial Term Loan Commitments on the Effective Date is   $320,000,000.           “Initial Term Loan Maturity Date” means May 29, 2025.           “Initial  Term  Loans”  means  the  term  loans  made  by  the  Initial Term  Lenders  to  the   Borrower pursuant to Section 2.01(a).  On the Amendment No. 2 Effective Date, the aggregate   outstanding principal amount of the Initial Term Loans is $315,200,000.           “Intercreditor Agreement” means that certain Intercreditor Agreement, dated as of the date   hereof, by and among the Administrative Agent, the ABL Administrative Agent, the Borrower and   the other Loan Parties.           “Interest  Election  Request”  means  a  request  by  the  Borrower  to  convert  or  continue  a   Borrowing in accordance with Section 2.08.            “Interest Expense” means, for any period, total interest expense (including that attributable   to Capital Lease Obligations) of Holdings and its Subsidiaries for such period with respect to all   outstanding Indebtedness of Holdings and its Subsidiaries (including all commissions, discounts   and other fees and charges owed with respect to letters of credit and bankers’ acceptances and net   costs under Swap Agreements (other than any Commodity Swap Agreements) in respect of interest  rates  to  the  extent  such  net  costs  are  allocable  to  such  period  in  accordance  with  GAAP),   calculated on a consolidated basis for Holdings and its Subsidiaries for such period in accordance  with GAAP.            “Interest Payment Date” means (a) with respect to any ABR Loan,  the  first  day  of  each   calendar month and the Maturity Date and (b) with respect to any Eurodollar Loan, the last day of   the Interest Period applicable to the Borrowing of which such Loan is a part (and, in the case of a   Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day prior   to the last day of such Interest Period that occurs at intervals of three months’ duration after the   first day of such Interest Period) and the Maturity Date.           “Interest Period” means, with respect to any Eurodollar Borrowing, the period commencing   on the date of such Eurodollar Borrowing and ending on the numerically corresponding day in the   calendar month that is one, two, three, six or twelve months thereafter, as the Borrower may elect;   provided,  that  (i)  if  any  Interest  Period  would  end  on  a  day  other  than  a  Business  Day,  such   Interest Period shall be extended to the next succeeding Business Day unless such next succeeding   Business Day would fall in the next calendar month, in which case such Interest Period shall end   on  the  next  preceding  Business  Day  and  (ii)  any  Interest  Period  that  commences  on  the  last   Business Day of a calendar month (or on a day for which there is no numerically corresponding                                         21                                               

 

                                                                                                                                                               day in the last calendar month of such Interest Period) shall end on the last Business Day of the last   calendar month of such Interest Period.  For purposes hereof, the date of a Borrowing initially shall   be the date on which such Borrowing is made and thereafter shall be the effective date of the most   recent conversion or continuation of such Borrowing.            “Interpolated  Rate”  means,  at  any  time,  for  any  Interest  Period,  the  rate  per  annum   (rounded  to  the  same  number  of  decimal  places  as  the  LIBO  Screen  Rate)  determined  by  the   Administrative Agent (which determination shall be conclusive and binding absent manifest error)   to  be  equal  to  the  rate  that  results  from  interpolating  on  a  linear  basis  between:  (a)  the  LIBO   Screen Rate for the longest period (for which the LIBO Screen Rate is available) that is shorter   than the Impacted Interest Period and (b) the LIBO Screen Rate for the shortest period (for which   the LIBO Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such   time.             “Inventory” has the meaning assigned to such term in the Security Agreement.            “IRS” means the United States Internal Revenue Service.           “Joinder Agreement” means a Joinder Agreement in substantially the form of Exhibit E.            “Joint  Lead  Arrangers”  means  JPMCB,  Merrill  Lynch,  Pierce,  Fenner  &  Smith   Incorporated, Wells Fargo Securities, LLC and Deutsche Bank Securities Inc., in their capacities as   joint lead arrangers and joint bookrunners.           “JPMCB”  means  JPMorgan  Chase  Bank,  N.A.,  a  national  banking  association,  in  its   individual capacity, and its successors.             “Latest Term Loan Maturity Date” means, as of any date of determination,  the  latest   maturity or expiration date applicable to any Loan or any Term Commitment.            “Lender”  or  “Term  Lender”  means  any  Initial  Term  Lender  and  any  Additional  Term   Lender  and  any  other  Person  that  becomes  a  party  hereto  pursuant  to  an  Assignment  and   Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment   and Assumption.            “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the   LIBO  Screen  Rate  at  approximately  11:00  a.m.,  London  time,  two Business  Days  prior  to  the   commencement  of  such  Interest  Period;  provided  that  if  the  LIBO  Screen  Rate  shall  not  be   available at such time for such Interest Period (an “Impacted Interest Period”) then the LIBO Rate   shall be the Interpolated Rate.  It is understood and agreed that all of the terms and conditions of   this definition of “LIBO Rate” shall be subject to Section 2.14.  Notwithstanding the above, to the  extent that “LIBO Rate” or “Adjusted LIBO Rate” is used in connection with an ABR Borrowing,  such rate shall be determined as modified by the definition of Alternate Base Rate.         “LIBO  Screen  Rate”  means,  for  any  day  and  time,  with  respect  to  any  Eurodollar   Borrowing  for  any  Interest  Period,  the  London  interbank  offered  rate  as  administered  by  ICE   Benchmark Administration (or any other Person that takes over the administration of such rate for   dollars) for a period equal in length to such Interest Period as displayed on such day and time on                                         22                                               

 

                                                                                                                                                               pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such   rate  does  not  appear  on  a  Reuters  page  or  screen,  on  any  successor  or  substitute  page  on  such  screen that displays such rate, or on the appropriate page of such other information service that  publishes such rate from time to time as selected by the Administrative Agent in its reasonable  discretion) provided that if the LIBO Screen Rate shall be less than zero, such rate shall be deemed   to be zero for the purposes of this Agreement.          “License Agreement” has the meaning assigned to such term in the Security Agreement.          “Lien”  means,  with  respect  to  any  asset,  (a) any  mortgage,  deed  of  trust,  lien,  pledge,   hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a   vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement   (or  any  financing  lease  having  substantially  the  same  economic effect  as  any  of  the  foregoing)   relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a   third party with respect to such securities.           “Loan  Documents”  means,  collectively,  this  Agreement,  any  promissory  notes  delivered   pursuant  to  this  Agreement,  the  Collateral  Documents,  the  Loan Guaranty,  any  Obligation   Guaranty,  the  Intercreditor  Agreement  each  Refinancing  Amendment,  each  Incremental  Facility   Amendment, each Extension Amendment and all other agreements, instruments, documents and   certificates identified in Section 4.01 executed and delivered to, or in favor of, the Administrative  Agent or any Lender and including all other pledges, powers of attorney, consents, assignments,  contracts,  notices,  legal  opinions  issued  in  connection  with  the  other  Loan  Documents,  UCC  filings, and any other documents prepared in connection with the other Loan Documents, if any  and all other written matter whether heretofore, now or hereafter executed by or on behalf of any  Loan Party, or any employee of any Loan Party, and delivered to the Administrative Agent or any  Lender in connection with this Agreement or the transactions contemplated hereby.  Any reference  in this Agreement or any other Loan Document to a Loan Document shall include all appendices,  exhibits  or  schedules  thereto,  and  all  amendments,  restatements,  supplements  or  other  modifications thereto, and shall refer to this Agreement or such Loan Document as the same may  be in effect at any and all times such reference becomes operative.                       “Loan Guarantor” means each Loan Party.                       “Loan Guaranty” means Article X of this Agreement.                 “Loan Parties” means, collectively, Holdings, the Borrower, the Subsidiary Guarantors and   any other Person who becomes a party to this Agreement pursuant to a Joinder Agreement and   their successors and assigns, and the term “Loan Party” shall mean any one of them or all of them   individually, as the context may require.             “Loan” means any Initial Term Loan or any Additional Term Loan.                        “Material  Adverse  Effect”  means  a  material  adverse  effect  on  (a) the  business,  assets,   operations or financial condition of Holdings and its Subsidiaries taken as a whole, (b) the ability   of any Loan Party to perform any of its obligations under the Loan Documents to which it is a   party, (c) the Collateral, or the Administrative Agent’s Liens (on behalf of itself and other Secured                                          23                                               

 

                                                                                                                                                            Parties) on the Collateral or the priority of such Liens, or (d) the rights of or benefits available to  the Administrative Agent or the Lenders under any of the Loan Documents.          “Material Contract” means any contract or other arrangement to which Holdings or any of  its  Subsidiaries  is  a  party  (other  than  the  Loan  Documents  and the  ABL  Loan  Documents)  for  which breach, nonperformance, cancellation or failure to renew could reasonably be expected to  have a Material Adverse Effect.         “Material Domestic Subsidiary” means each Domestic Subsidiary (i) which, as of the most  recent fiscal quarter of Holdings, for the period of four consecutive fiscal quarters then ended, for  which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, if prior to the  date of the delivery of the first financial statements to be delivered pursuant to Section 5.01(a) or  (b), the most recent financial statements referred to in Section 3.04(a)), contributed greater than  five  percent  (5%)  of  Consolidated  Adjusted  EBITDA  for  such  period  or  (ii)  which  contributed  greater than five percent (5%) of Consolidated Total Assets as of such date; provided that, if at any  time  the  aggregate  amount  of  Consolidated  Adjusted  EBITDA  or  Consolidated  Total  Assets  attributable to all Domestic Subsidiaries that are not Material Domestic Subsidiaries exceeds five  percent  (5%)  of  Consolidated  Adjusted  EBITDA  for  any  such  period  or  five  percent  (5%)  of  Consolidated Total Assets as of the end of any such fiscal quarter, the Borrower (or, in the event  the Borrower has failed to do so within ten (10) days, the Administrative Agent) shall designate  sufficient Domestic Subsidiaries as “Material Domestic Subsidiaries” to eliminate such excess, and  such designated Subsidiaries shall for all purposes of this Agreement constitute Material Domestic  Subsidiaries.          “Material  Indebtedness”  means  Indebtedness  (other  than  the  Loans),  or  obligations  in  respect of one or more Swap Agreements (other than Commodity Swap Agreements), of any one  or more of Holdings and its Subsidiaries in an aggregate principal amount exceeding $10,000,000.   For purposes of determining Material Indebtedness, the “principal amount” of the obligations of  Holdings or any Subsidiary in respect of any Swap Agreement (other than any Commodity Swap  Agreement)  at  any  time  shall  be  the  maximum  aggregate  amount  (giving  effect  to  any  netting  agreements) that Holdings or such Subsidiary would be required to pay if such Swap Agreement  were terminated at such time.         “Maturity Date” means (a) with respect to the Initial Term Loans, the Initial Term Loan  Maturity Date, (b) with respect to any Replacement Term Loans, the final maturity date for such  Replacement  Term  Loans,  as  the  case  may  be,  as  set  forth  in  the  applicable  Refinancing  Amendment, (c) with respect to any Incremental Facility, the final maturity date set forth in the  applicable Incremental Facility Amendment, and (d) with respect to any Extended Term Loans, the  final maturity date set forth in the applicable Extension Amendment.         “Maximum Rate” has the meaning assigned to such term in Section 9.17.         “Moody’s” means Moody’s Investors Service, Inc.                     “Multiemployer  Plan”  means  a  multiemployer  plan  as  defined  in Section 4001(a)(3)  of  ERISA.                                          24                                             

 

                                                                                                                                                                     “Net Income” means, for any period, the consolidated net income (or loss) attributable to   Holdings  and  its  Subsidiaries,  determined  on  a  consolidated  basis  in  accordance  with  GAAP;   provided that there shall be excluded (a) the income (or deficit) of any Person accrued prior to the   date  it  becomes  a  Subsidiary  or is  merged  into  or  consolidated with  Holdings  or  any  of  its   Subsidiaries, (b) the income (or deficit) of any Person (other than a Subsidiary) in which Holdings   or any of its Subsidiaries has an ownership interest, except to the extent that any such income is   actually received by Holdings or such Subsidiary in the form of dividends or similar distributions   and (c) the undistributed earnings of any Subsidiary to the extent that the declaration or payment of   dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of   any  contractual  obligation  (other  than  under  any  Loan  Document)  or  Requirement  of  Law   applicable to such Subsidiary.                  “Net  Interest  Expense  (Income)”  means,  for  any  period,  an  amount  (which  may  be   negative) equal to the excess of (x) Interest Expense over (y) total interest income of Holdings and  its  Subsidiaries  for  such  period,  calculated  on  a  consolidated basis  for  Holdings  and  its  Subsidiaries for such period in accordance with GAAP.                “Net Proceeds” means, with respect to any event, (a) the cash proceeds received in respect   of such event including (i) any cash received in respect of any non-cash proceeds (including any   cash payments received by way of deferred payment of principal pursuant to a note or installment   receivable  or  purchase  price  adjustment  receivable  or  otherwise,  but  excluding  any  interest   payments), but only as and when received, (ii) in the case of a casualty, insurance proceeds and   (iii) in the case of a condemnation or similar event, condemnation awards and similar payments,   minus (b) the sum of (i) all reasonable fees and out-of-pocket expenses paid to third parties (other   than Affiliates) in connection with such event, (ii) in the case of a sale, transfer or other disposition   of an asset (including pursuant to a sale and leaseback transaction or a casualty or a condemnation   or similar proceeding), the amount of all payments required to be made as a result of such event to   repay Indebtedness  (other  than  Loans)  secured  by  such  asset  or otherwise  subject  to  mandatory   prepayment as a result of such event and (iii) the amount of all Taxes paid (or reasonably estimated   to be payable) and the amount of any reserves established to fund contingent liabilities reasonably   estimated  to  be  payable,  in  each  case  during  the  year  that  such  event  occurred  or  the  next   succeeding year and that are directly attributable to such event (as determined reasonably and in   good faith by a Financial Officer).            “Net Senior Secured Leverage Ratio” means, at any date, the ratio of (a) the excess of (i)   the  aggregate  outstanding  principal  amount  of  the  Loans  and  all  other  Consolidated  Total   Indebtedness of the Loan Parties on such date that is secured on a pari passu basis by Term Loan   Priority Collateral over (ii) the aggregate amount of cash and cash equivalents of the Loan Parties   and their Domestic Subsidiaries (except any Excluded Domestic Subsidiary) on such date that is   unrestricted and unencumbered (other than Permitted Encumbrances) to (b) Consolidated Adjusted   EBITDA for the Test Period then most recently ended for which financial statements have been   delivered pursuant to Section 5.01(a) or (b).           “Non-Consenting Lender” has the meaning assigned to such term in Section 9.02(d).           “NYFRB” means the Federal Reserve Bank of New York.                                            25                                               

 

                                                                                                                                                                  “NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in  effect on such day and (b) the Overnight Bank Funding Rate in effect on such day(or for any day  that is not a Banking Day, for the immediately preceding Banking Day); provided that if none of  such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the  rate for a federal funds transaction quoted at 11:00 a.m. on such day received to the Administrative  Agent from a Federal funds broker of recognized standing selected by it; provided, further, that if  any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes  of this Agreement.           “Obligated Party” has the meaning assigned to such term in Section 10.02.                     “Obligation  Guaranty”  means  any  Guarantee  of  all  or  any  portion  of  the  Secured  Obligations  executed  and  delivered  to  the  Administrative  Agent for  the  benefit  of  the  Secured  Parties by a guarantor who is not a Loan Party.                     “Obligations” means all unpaid principal of and accrued and unpaid interest on the Loans,  all accrued and unpaid fees (including the Repricing Premium) and all expenses, reimbursements,  indemnities and other obligations and indebtedness (including interest, expenses and fees accruing  during  the  pendency  of  any  bankruptcy,  insolvency,  receivership  or  other  similar  proceeding,  regardless of whether allowed or allowable in such proceeding), obligations and liabilities of any  of  the  Loan  Parties  to  any  of  the  Lenders,  the  Administrative  Agent  or  any  indemnified  party,  individually or collectively, existing on the Effective Date or arising thereafter, direct or indirect,  joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured  or  unsecured,  arising  by  contract,  operation  of  law  or  otherwise,  arising  or  incurred  under  this  Agreement  or  any  of  the  other  Loan  Documents  or  in  respect  of  any  of  the  Loans  made  or  reimbursement  or  other  obligations  incurred  or  other  instruments  at  any  time  evidencing  any  thereof.           “OFAC” means the Office of Foreign Assets Control of the United States Department of  the Treasury.         “Off-Balance Sheet Liability” of a Person means (a) any repurchase obligation or liability  of  such  Person  with  respect  to  accounts  or  notes  receivable  sold  by  such  Person,  (b)  any  indebtedness, liability or obligation under any so-called “synthetic lease” transaction entered into  by such Person, or (c) any indebtedness, liability or obligation arising with respect to any other  transaction which is the functional equivalent of or takes the place of borrowing but which does  not constitute a liability on the balance sheet of such Person (other than operating leases).          “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result  of  a  present  or  former  connection  between  such  Recipient  and  the  jurisdiction  imposing  such  Taxes (other than a connection arising from such Recipient having executed, delivered, become a  party to, performed its obligations under, received payments under, received or perfected a security  interest under, engaged in any other transaction pursuant to, or enforced, any Loan Document, or  sold or assigned an interest in any Loan or any Loan Document).          “Other  Taxes”  means  all  present  or  future  stamp,  court  or  documentary,  intangible,  recording, filing or similar Taxes that arise from any payment made  under,  from  the  execution,  delivery, performance, enforcement or registration of, from the receipt or perfection of a security                                        26                                             

 

                                                                                                                                                            interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are  Other Connection Taxes imposed with respect to an assignment (other than an assignment made  pursuant to Section 2.19).          “Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight  federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository  institutions (as such composite rate shall be determined by the NYFRB as set forth on its public  website from time to time) and published on the next succeeding Business Day by the NYFRB as  an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish  such composite rate).                 “Parent”  means,  with  respect  to  any  Lender,  any  Person  as  to  which  such  Lender  is,  directly or indirectly, a subsidiary.          “Participant” has the meaning assigned to such term in Section 9.04(c).         “Participant Register” has the meaning assigned to such term in Section 9.04(c).          “PBGC”  means  the  Pension  Benefit  Guaranty  Corporation  referred  to  and  defined  in  ERISA and any successor entity performing similar functions.          “Permitted Acquisition” means any Acquisition by any Loan Party (other than Holdings) in  a transaction that satisfies each of the following requirements:                (a)   such Acquisition is not a hostile or contested acquisition;              (b)   the business acquired in connection with such Acquisition is not engaged,        directly or indirectly, in any line of business other than the businesses in which the Loan        Parties are engaged on the Effective Date and any business activities that are substantially        similar, complementary, related, or incidental thereto;              (c)   both  before  and  after  giving  effect  to  such  Acquisition  and  the  Loans  (if        any)  requested  to  be  made  in  connection  therewith,  (i)  each  of the  representations  and        warranties in the Loan Documents is true and correct as of the date of such Acquisition        (except any such representation or warranty which relates to a specified prior date, which        shall  be  true  and  correct  as  of  such  prior  date)  and  (ii)  no  Default  exists,  will  exist,  or        would result therefrom on the date the relevant Acquisition is consummated, and giving pro        forma effect to such Acquisition;              (d)   other  than  in  connection  with  any  Acquisition  for  which  the  total        consideration  paid  or  payable (including  any  earnout  or  deferred  purchase  price        obligations) is less than $10,000,000, as soon as available, but not less than ten (10) days        prior to such Acquisition, the Borrower has provided the Administrative Agent (i) notice of        such  Acquisition  and  (ii)  a  copy  of  all  business  and  financial information  reasonably        requested by the Administrative Agent including pro forma financial statements, statements        of cash flow, and Availability projections;              (e)   if such Acquisition is an acquisition of the Equity Interests of a Person, such        Acquisition  is  structured  so  that  the  acquired  Person  shall  become  a  direct  or  indirect        wholly-owned Subsidiary of the Borrower;                                        27                                             

 

                                                                                                                                                      (f)   if such Acquisition is an acquisition of assets located in the United States (or  its territories),  such  Acquisition  is structured so  that the  Borrower  or another  Subsidiary  Guarantor shall acquire such assets;        (g)   if  such  Acquisition  is  an  acquisition  of  Equity  Interests,  such  Acquisition  will not result in any violation of Regulation U;        (h)   if  such  Acquisition  involves  a  merger  or  a  consolidation  involving  the  Borrower  or  a  Subsidiary  Guarantor,  the  Borrower  or  such  Subsidiary  Guarantor,  as  applicable, shall be the surviving entity;         (i)   no  Loan  Party  shall,  as  a  result  of  or  in  connection  with  any  such  Acquisition,  assume  or  incur  any  direct  or  contingent  liabilities  (whether  relating  to  environmental, Tax, litigation, or other matters) that could have a Material Adverse Effect;        (j)   all actions required to be taken with respect to any newly acquired or formed  wholly-owned Subsidiary of the Borrower or a Loan Party, as applicable, required under  Section 5.14 shall have been taken; and         (k)   promptly upon the consummation thereof, the Borrower shall have delivered  to  the  Administrative  Agent  the  final  executed  material  documentation  relating  to  such  Acquisition.        “Permitted Encumbrances” means:                       (a)   Liens imposed by law for Taxes that are not yet due or (i) the validity or  amount thereof is being contested in good faith by appropriate proceedings, (ii) such Loan  Party  or  Subsidiary  has  set  aside  on  its  books  adequate  reserves  with  respect  thereto  in  accordance with GAAP and (iii) the failure to make payment pending such contest could  not reasonably be expected to result in a Material Adverse Effect; provided, however, that  each Loan Party will, and will cause each Subsidiary to, remit withholding taxes and other  payroll  taxes  to  appropriate  Governmental  Authorities  as  and  when  claimed  to  be  due,  notwithstanding the foregoing exception.                      (b)    carriers’,  warehousemen’s,  mechanics’,  materialmen’s,  repairmen’s  and  other like Liens imposed by law, arising in the ordinary course of business and securing  obligations that are not overdue by more than thirty (30) days or (i) the validity or amount  thereof is being contested in good faith by appropriate proceedings, (ii) such Loan Party or  Subsidiary has set aside on its books adequate reserves with respect thereto in accordance  with  GAAP  and  (iii)  the  failure  to  make  payment  pending  such  contest  could  not  reasonably be expected to result in a Material Adverse Effect;                       (c)   pledges and deposits made in the ordinary course of business in compliance  with  workers’  compensation,  unemployment  insurance  and  other  social  security  laws  or  regulations;                      (d)    deposits to secure the performance of bids, trade contracts, leases, statutory  obligations,  surety  and  appeal  bonds,  performance  bonds  and  other  obligations  of  a  like  nature, in each case in the ordinary course of business;                                    28                                                    

 

                                                                                                                                                                           (e)   judgment Liens in respect of judgments that do not constitute an Event of         Default under clause (k) of Article VII; and                        (f)   easements, zoning restrictions, rights-of-way and similar encumbrances on         real  property  imposed  by  law  or  arising  in  the  ordinary  course of  business  that  do  not         secure  any  monetary  obligations  and  do  not  materially  detract  from  the  value  of  the         affected  property  or  interfere  with  the  ordinary  conduct  of  business  of  Holdings  or  any         Subsidiary;             provided  that  the  term  “Permitted  Encumbrances”  shall  not  include  any  Lien  securing   Indebtedness, except with respect to clause (e) above.           “Permitted Factoring Facility” means any factoring program facility with respect to certain   Accounts of the Loan Parties or their Subsidiaries; provided, that the aggregate maximum amount   outstanding under all such factoring program facilities shall not be greater than $2,000,000 at any  time.           “Permitted Investments” means:                 (a)    direct obligations of, or obligations the principal of and interest on which are         unconditionally  guaranteed  by,  the U.S.  (or  by  any  agency  thereof  to  the  extent  such         obligations are backed by the full faith and credit of the U.S.), in each case maturing within         one year from the date of acquisition thereof;                 (b)    investments in commercial paper maturing within 270 days from the date of         acquisition  thereof  and  having,  at  such  date  of  acquisition,  the  highest  credit  rating         obtainable from S&P or from Moody’s;                  (c)   investments  in  certificates  of  deposit,  bankers’  acceptances  and  time         deposits maturing within 180 days from the date of acquisition thereof issued or guaranteed         by or placed with, and money market deposit accounts issued or offered by, any domestic         office of any commercial bank organized under the laws of the U.S. or any State thereof         which  has  a  combined  capital  and  surplus  and  undivided  profits of  not  less  than         $500,000,000;                 (d)    fully collateralized repurchase agreements with a term of not more than 30         days for securities described in clause (a) above and entered into with a financial institution         satisfying the criteria described in clause (c) above; and                 (e)    money market funds that (i) comply with the criteria set forth in Securities         and Exchange Commission Rule 2a-7 under the Investment Company Act of 1940, (ii) are         rated  AAA  by  S&P  and  Aaa  by  Moody’s  and  (iii)  have  portfolio  assets of at least         $5,000,000,000.            “Person”  means  any  natural  person,  corporation,  limited  liability  company,  trust,  joint   venture, association, company, partnership, Governmental Authority or other entity.                                            29                                               

 

                                                                                                                                                                 “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject  to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in  respect of which any Loan Party or any ERISA Affiliate is (or, if such plan were terminated, would  under  Section 4069  of  ERISA  be  deemed  to  be)  an  “employer”  as  defined  in  Section 3(5)  of  ERISA.          “Platform” means Debt Domain, Intralinks, Syndtrak or a substantially similar electronic  transmission system.          “Prepayment Event” means:                            (a)   any  sale,  transfer  or  other disposition  (including  pursuant  to  a  Sale  and        Leaseback  transaction)  of  any  property  or  asset  of  any  Loan  Party (i) other than in the        ordinary course of business or otherwise in a manner not permitted under this Agreement        or (ii) with respect to which any Loan Party receives Net Proceeds in an amount in excess        of $25,000,000;                             (b)   any  casualty  or  other  insured  damage  to,  or  any  taking  under  power  of        eminent domain or by condemnation or similar proceeding of, any property or asset of any        Loan Party or any Subsidiary with a fair value immediately prior to such event equal to or        greater than $25,000,000; or                      (c)   the  incurrence  by  Holdings  or any  Subsidiary  of  any  Indebtedness,  other        than  Indebtedness  (x)  permitted  under  Section 6.01,  except  to  the  extent  the  relevant        Indebtedness constitutes (A) Refinance Indebtedness incurred to refinance all or a portion        of the Loans pursuant to Section 6.01(f) or Replacement Term Loans incurred to refinance        Loans or Additional Term Loans in accordance with the requirements of this Agreement,        (B) Incremental Term Loans incurred to refinance all or a portion of the Loans pursuant to        Section 2.23 and/or (C) Incremental Equivalent Debt incurred to finance all or a portion of        the Loans in accordance with the requirements of Section 6.01(s) or (y) permitted by the        Required Lenders pursuant to Section 9.02.                      “Prime Rate” means the rate of interest per annum publicly announced from time to time  by JPMCB as its prime rate in effect at its principal offices in New York City.  Each change in the  Prime Rate shall be effective from and including the date such change is publicly announced as  being effective.           “Projections” has the meaning assigned to such term in Section 5.01(f).                     “Public-Sider”  means  a  Lender  whose  representatives  may  trade in  securities  of  the  Holdings or its controlling Person or any of its Subsidiaries while in possession of the financial  statements provided under the terms of this Agreement.          “Qualified ECP Guarantor” means, in respect of any Swap Obligation, each Loan Party that  has  total  assets  exceeding  $10,000,000  at  the  time  the  relevant  Loan  Guaranty  or  grant  of  the  relevant security interest becomes or would become effective with respect to such Swap Obligation  or  such  other  person  as  constitutes  an  “eligible  contract  participant”  under  the  Commodity                                        30                                             

 

                                                                                                                                                               Exchange Act or any regulations promulgated thereunder and can cause another person to qualify   as  an  “eligible  contract  participant”  at  such  time  by  entering into  a  keepwell  under  Section   1a(18)(A)(v)(II) of the Commodity Exchange Act.          “Qualified Equity Interest” of any Person means any Equity Interest of such Person that is   not Disqualified Equity Interest.                  “Recipient” means, as applicable, (a) the Administrative Agent and (b) any Lender, or any   combination thereof (as the context requires).                   “Refinance Indebtedness” has the meaning assigned to such term in Section 6.01(f).                  “Refinancing  Amendment”  means  an  amendment  to  this  Agreement  that  is  reasonably   satisfactory to the Administrative Agent and the Borrower executed by (a) Holdings, the Borrower   and  the  Subsidiary  Guarantors,  (b) the  Administrative  Agent  and  (c) each  Lender  that  agrees  to   provide all or any portion of the Replacement Term Loans being incurred pursuant thereto and in   accordance with Section 9.02(f).                 “Register” has the meaning assigned to such term in Section 9.04(b).           “Related Parties” means, with respect to any specified Person, such Person’s Affiliates and   the respective directors, officers, partners, members, trustees, employees, agents, administrators,   managers, representatives and advisors of such Person and such Person’s Affiliates.            “Release”  means  any  releasing,  spilling,  leaking,  pumping,  pouring,  emitting,  emptying,   discharging, injecting, escaping, leaching, migrating, disposing or dumping of any substance into  the environment.            “Replaced Term Loans” has the meaning assigned to such term in Section 9.02(f).           “Replacement Term Loans” has the meaning assigned to such term in Section 9.02(f).           “Repricing Premium” has the meaning assigned to such term in Section 2.12(c).           “Repricing  Transaction”  means  each  of  (a)  the  prepayment,  repayment,  refinancing,   substitution,  repricing or  replacement of  all  or  a  portion of  the  Initial  Term  Loans  substantially   concurrently  with  the  incurrence by  any  Loan  Party  of  any  secured  term  loans  (including  any   Replacement Term Loans) having an Effective Yield that is less than the Effective Yield applicable   to the Initial Term Loans so prepaid, repaid, refinanced, substituted, repriced or replaced and (b) any   amendment, waiver or other modification to this Agreement that would have the effect of reducing   the Effective Yield applicable to the Initial Term Loans; provided that the primary purpose of such   prepayment,  repayment,  refinancing,  substitution,  replacement, amendment,  waiver  or  other   modification  is  to  reduce  the  Effective  Yield  applicable  to  the  Initial  Term  Loans;  provided,   further,  that  in  no  event  shall any  such  prepayment,  repayment,  refinancing,  substitution,   replacement,  amendment,  waiver  or  other  modification  in  connection  with  a  Change  in  Control   constitute a Repricing Transaction.                                              31                                               

 

                                                                                                                                                                    “Required Excess Cash Flow Percentage” means, as of any date of determination, (a) if the   Total Net Leverage Ratio is greater than or equal to 2.75:1.00, 50%, (b) if the Total Net Leverage   Ratio is less than 2.75:1.00 and greater than or equal to 2.25:1.00, 25% and (c) if the Total Net   Leverage Ratio is less than 2.25:1.00, 0%; it being understood and agreed that, for purposes of this   definition as it applies to the determination of the amount of Excess Cash Flow that is required to   be applied to prepay the Loans under Section 2.11(b)(i) for any applicable Excess Cash Flow fiscal   period, the Total Net Leverage Ratio shall be determined as of the last day of such fiscal year.           “Required  Lenders”  means,  at  any  time,  Lenders  having  Loans  or  unused  Commitments   representing more than 50% of the sum of the total Loans and such unused commitments at such   time.                          “Requirement  of  Law”  means,  with  respect  to  any  Person,  (a)  the  charter,  articles  or   certificate  of  organization  or  incorporation  and  bylaws  or  other  organizational  or  governing  documents  of  such  Person  and  (b)  any  statute,  law  (including  common  law),  treaty,  rule,  regulation,  code,  ordinance,  order,  decree,  writ,  judgment,  injunction  or  determination  of  any  arbitrator or court or other Governmental Authority (including Environmental Laws), in each case  applicable to or binding upon such Person or any of its property or to which such Person or any of  its property is subject.          “Restricted Payment” means any dividend or other distribution (whether in cash, securities   or  other  property)  with  respect  to  any  Equity  Interests  in  Holdings  or  any  Subsidiary,  or  any   payment  (whether  in  cash,  securities  or  other  property),  including  any  sinking  fund  or  similar   deposit,  on  account  of  the  purchase,  redemption,  retirement,  acquisition,  cancellation  or   termination of any such Equity Interests in any Loan Party or any option, warrant or other right to   acquire any such Equity Interests in any Loan Party.           “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services   LLC business.           “Sale and Leaseback Transaction” has the meaning assigned to such term in Section 6.06.           “Sanctioned Country” means, at any time, a country, region or territory which is itself the   subject or target of any Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea,   Sudan and Syria).          “Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list   of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department   of  the  Treasury,  the  U.S.  Department  of  State  or  by  the  United Nations  Security  Council,  the   European  Union,  any  European  Union  member  state,  Her  Majesty’s Treasury  of  the  United   Kingdom or other relevant sanctions authority, (b) any Person operating, organized or resident in a   Sanctioned  Country  or  (c)  any  Person  owned  or  controlled  by  any  such  Person  or  Persons   described in the foregoing clauses (a) or (b).          “Sanctions”  means  all  economic  or  financial  sanctions  or  trade  embargoes  imposed,   administered  or  enforced  from  time  to  time  by  (a)  the  U.S.  government,  including  those   administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or   the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any                                         32                                               

 

                                                                                                                                                               European Union member state, Her Majesty’s Treasury of the United Kingdom or other relevant   sanctions authority.          “SEC” means the Securities and Exchange Commission of the U.S.           “Secured  Obligations”  means  all  Obligations,  together  with  all  (i)  Banking  Services   Obligations and (ii) Swap Agreement Obligations owing to one or more Lenders or their respective   Affiliates;  provided,  however,  that  the  definition  of  “Secured Obligations”  shall  not  create  any   guarantee  by  any  Guarantor  of  (or  grant  of  security  interest  by  any  Guarantor  to  support,  as   applicable)  any  Excluded  Swap  Obligations  of  such  Guarantor  for  purposes  of  determining  any   obligations of any Guarantor.             “Secured Parties” means (a) the Administrative Agent, (b) the Lenders, (c) each provider of   Banking  Services,  to  the  extent  the  Banking  Services  Obligations  in  respect  thereof  constitute   Secured  Obligations,  (d)  each  counterparty  to  any  Swap  Agreement,  to  the  extent  the  Swap  Agreement  Obligations  thereunder  constitute  Secured  Obligations,  (e)  the  beneficiaries  of  each  indemnification obligation undertaken by any Loan Party under any Loan Document, and (f) the  successors and assigns of each of the foregoing.              “Securities Act” means the Securities Act of 1933 and the rules and regulations of the SEC   promulgated thereunder.            “Security  Agreement”  means  that  certain  Term  Loan  Pledge  and  Security  Agreement   (including any and all supplements thereto), dated as of the date hereof, among the Loan Parties   and the Administrative Agent, for the benefit of the Administrative Agent and the other Secured   Parties, and any other pledge or security agreement entered into, after the date of this Agreement   by any other Loan Party (as required by this Agreement or any other Loan Document) or any other   Person for the benefit of the Administrative Agent and the other Secured Parties, as the same may   be amended, restated, supplemented or otherwise modified from time to time.           “Specified  Indebtedness”  means  the  Indebtedness  evidenced  by  the ABL Credit   Agreement, any Subordinated Indebtedness, any Indebtedness incurred pursuant to clauses (j), (q)   or  (r),  of  Section  6.01  and,  to  the  extent  reflecting  a  refinancing  of  any  other  Indebtedness   described above, Indebtedness incurred pursuant to Section 6.01(f).             “Statements”  has  the  meaning  assigned  to  such  term  in  Section 2.18(g).             “Statutory  Reserve  Rate”  means  a  fraction  (expressed  as  a  decimal),  the  numerator  of   which is the number one and the denominator of which is the number one minus the aggregate of   the  maximum  reserve  percentage  (including  any  marginal,  special,  emergency  or  supplemental   reserves) established by the Board to which the Administrative Agent is subject with respect to the   Adjusted LIBO Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities”   in Regulation D of the Board).  Such reserve percentages shall include those imposed pursuant to   such  Regulation D  of  the  Board.   Eurodollar  Loans  shall  be  deemed  to  constitute  eurocurrency   funding and to be subject to such reserve requirements without benefit of or credit for proration,   exemptions  or  offsets  that  may  be  available  from  time  to  time  to  any  Lender  under  such   Regulation D  of  the  Board  or  any  comparable  regulation.   The  Statutory  Reserve  Rate  shall  be   adjusted automatically on and as of the effective date of any change in any reserve percentage.                                         33                                               

 

                                                                                                                                                                       “Subordinated  Indebtedness”  of a  Person  means  any  Indebtedness of such Person the   payment of which is subordinated to payment of the Secured Obligations to the written satisfaction   of the Administrative Agent.              “Subordinated  Lien  Indebtedness” means  any  Indebtedness  that  is  secured  by  a  security   interest on the Collateral (other than Indebtedness under the ABL Loan Documents) which security   interest has been made expressly junior or subordinated to the Lien securing the Obligations.            “subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation,   limited liability company, partnership, association or other entity the accounts of which would be   consolidated  with  those  of  the  parent  in  the  parent’s  consolidated  financial  statements  if  such   financial statements were prepared in accordance with GAAP as of such date, as well as any other   corporation,  limited  liability  company,  partnership,  association  or  other  entity  (a)  of  which   securities or other ownership interests representing more than 50% of the equity or more than 50%  of  the  ordinary  voting  power  or,  in  the  case  of  a  partnership, more  than  50%  of  the  general  partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date,  otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and  one or more subsidiaries of the parent.           “Subsidiary”  means  any  direct  or  indirect  subsidiary  of  Holdings  or  a  Loan  Party,  as   applicable.           “Subsidiary  Guarantor”  means  each  Material  Domestic  Subsidiary  (except  any  Excluded   Domestic Subsidiary (other than a Domestic Subsidiary Holding Company)) that is a party to the   Loan  Guaranty.   The  Subsidiary  Guarantors  on  the  Effective  Date  are  identified  as  such  in   Schedule 3.15 hereto.            “Swap Agreement” means any agreement with respect to any swap, forward, spot, future,   credit  default  or  derivative  transaction  or  option  or  similar  agreement  involving,  or  settled  by   reference to, one or more rates, currencies, commodities, equity or debt instruments or securities,   or  economic,  financial  or  pricing  indices  or  measures  of  economic,  financial  or  pricing  risk  or   value  or  any  similar  transaction  or  any  combination  of  these  transactions;  provided  that  no   phantom  stock  or  similar  plan  providing  for  payments  only  on  account  of  services  provided  by   current or former directors, officers, employees or consultants of Holdings or the Subsidiaries shall   be a Swap Agreement.            “Swap Agreement Obligations” means any and all obligations of the Loan Parties and their   Subsidiaries,  whether  absolute  or  contingent  and  howsoever  and whensoever  created,  arising,   evidenced  or  acquired  (including  all  renewals,  extensions  and  modifications  thereof  and   substitutions therefor), under (a) any and all Swap Agreements permitted hereunder with a Lender   or an Affiliate of a Lender, and (b) any and all cancellations, buy backs, reversals, terminations or   assignments of any such Swap Agreement transaction.             “Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform   under  any  agreement,  contract  or  transaction  that  constitutes  a  “swap”  within  the  meaning  of                                          34                                               

 

                                                                                                                                                               section  1a(47)  of  the  Commodity  Exchange  Act  or  any  rules  or  regulations  promulgated  thereunder.           “Taxes”  means  any  and  all  present  or  future  taxes,  levies,  imposts,  duties,  deductions,   withholdings (including backup withholding), value added taxes, or any other goods and services,   use  or  sales  taxes,  assessments,  fees  or  other  charges  imposed by  any  Governmental  Authority,   including any interest, additions to tax or penalties applicable thereto.           “Term Commitment” means any Initial Term Commitment and any Additional Term Loan   Commitment.            “Term Loan Priority Collateral” has the meaning set forth in the Intercreditor Agreement.           “Test Period” means, on any date, the most recent four fiscal quarter period ending on or   prior to such date for which financial statements were required to have been delivered pursuant to   Section 5.01(a) or (b).           “Total  Net  Leverage  Ratio”  means,  at  any  date,  the  ratio  of  (a)  the  excess  of  (i)   Consolidated Total Indebtedness of the Loan Parties on such date over (ii) the aggregate amount of   cash  and  cash  equivalents  of  the  Loan  Parties  and  their  Domestic  Subsidiaries  (except  any   Excluded  Domestic  Subsidiary)  on  such  date  that  is  unrestricted  and  unencumbered  (other  than   Permitted  Encumbrances)  to  (b)  Consolidated  Adjusted  EBITDA  for  the  Test  Period  then  most   recently ended for which financial statements have been delivered pursuant to Section 5.01(a) or   (b).           “Transactions” means the execution, delivery and performance by the Loan Parties of (i)   this  Agreement  and  the  other  Loan  Documents,  the  borrowing  of  Loans  and  other  credit   extensions, the use of the proceeds thereof, (ii) the Effective Date Debt Repayments and (iii) the   ABL  Credit  Agreement  and  the  other  ABL  Loan  Documents,  the  borrowing  of  loans  and  other   credit extensions thereunder and the use of the proceeds thereof.            “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of   interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to   the Adjusted LIBO Rate or the Alternate Base Rate.            “UCC” means the Uniform Commercial Code as in effect from time to time in the State of   New York or in any other state the laws of which are required to be applied in connection with the   issue of perfection of security interests.             “Unfinanced  Capital  Expenditures”  means,  for  any  period,  Capital  Expenditures  made   during such period which are not financed from the proceeds of any Indebtedness (other than the   ABL  Loans;  it  being  understood  and  agreed  that,  to  the  extent  any  Capital  Expenditures  are   financed  with  ABL  Loans,  such  Capital  Expenditures  shall  be  deemed  Unfinanced  Capital   Expenditures).           “Unliquidated  Obligations”  means,  at  any  time,  any  Secured  Obligations  (or  portion   thereof)  that  are  contingent  in nature  or  unliquidated  at  such time,  including  any  Secured                                         35                                               

 

                                                                                                                                                               Obligation that is: (i) an obligation to reimburse a bank for drawings not yet made under a letter of   credit issued by it; (ii) any other obligation (including any guarantee) that is contingent in nature at   such  time;  or  (iii)  an  obligation  to  provide  collateral  to  secure  any  of  the  foregoing  types  of   obligations.            “U.S.” means the United States of America.                  “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)   of the Code.            “U.S. Tax  Compliance  Certificate”  has  the  meaning  assigned  to  such  term  in   Section 2.17(f)(ii)(B)(3).          “USA  PATRIOT  Act”  means  the  Uniting  and  Strengthening  America  by  Providing   Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001.          “Weighted  Average  Life  to  Maturity”  means,  when  applied  to  any  Indebtedness  at  any   date,  the  number  of  years  obtained  by  dividing:  (a) the  sum  of the  products  obtained  by   multiplying  (i) the  amount  of  each  then  remaining  installment, sinking  fund,  serial  maturity  or   other required payments of principal, including payment at final maturity, in respect thereof, by  (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date  and  the  making  of  such  payment;  by  (b) the  then  outstanding  principal  amount  of  such  Indebtedness.           “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or   partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E   of Title IV of ERISA.             “Write-Down  and  Conversion  Powers”  means,  with  respect  to  any  EEA  Resolution   Authority, the write-down and conversion powers of such EEA Resolution Authority from time to   time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and   conversion powers are described in the EU Bail-In Legislation Schedule.            SECTION 1.02.  Classification of Loans and Borrowings.  For purposes of this Agreement,   Loans  may  be  classified  and  referred  by  Class  (e.g.,  an  “Initial  Term  Loan”),  Type  (e.g.,  a   “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Initial Term Loan”).  Borrowings   also may be classified and referred to by Class (e.g., an “Initial Term Loan Borrowing”), Type   (e.g.,  a  “Eurodollar  Borrowing”)  or  by  Class  and  Type  (e.g.,  a “Eurodollar  Initial  Term  Loan   Borrowing”).           SECTION 1.03.  Terms Generally.  The definitions of terms herein shall apply equally to   the  singular  and  plural  forms  of  the  terms  defined.   Whenever  the  context  may  require,  any   pronoun  shall  include  the  corresponding  masculine,  feminine  and neuter forms.  The words   “include”,  “includes”  and  “including”  shall  be  deemed  to  be  followed  by  the  phrase  “without   limitation”.  The word “law” shall be construed as referring to all statutes, rules, regulations, codes   and other laws (including official rulings and interpretations thereunder having the force of law or   with  which  affected  Persons  customarily  comply)  and  all  judgments,  orders  and  decrees  of  all   Governmental  Authorities.   The  word  “will”  shall  be  construed  to  have  the  same  meaning  and                                         36                                               

 

                                                                                                                                                               effect as the word “shall”.  Unless the context requires otherwise (a) any definition of or reference   to  any  agreement,  instrument  or other  document  herein  shall  be construed  as  referring  to  such   agreement, instrument or other document as from time to time amended, restated, supplemented or   otherwise modified (subject to any restrictions on such amendments, restatements, supplements or   modifications set forth herein), (b) any definition of or reference to any statute, rule or regulation   shall be construed as referring thereto as from time to time amended, supplemented or otherwise   modified (including by succession of comparable successor laws), (c) any reference herein to any   Person  shall  be  construed  to  include  such  Person’s  successors  and  assigns  (subject  to  any   restrictions on assignments set forth herein) and, in the case of any Governmental Authority, any   other  Governmental  Authority  that  shall  have  succeeded  to  any  or  all  functions  thereof,  (d)  the   words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer   to this Agreement in its entirety and not to any particular provision hereof, (e) all references herein   to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,   and Exhibits and Schedules to, this Agreement, (f) any reference in any definition to the phrase “at   any  time”  or  “for  any  period”  shall  refer  to  the  same  time  or  period  for  all  calculations  or   determinations within such definition, and (g) the words “asset” and “property” shall be construed   to have the same meaning and effect and to refer to any and all tangible and intangible assets and   properties, including cash, securities, accounts and contract rights.             SECTION  1.04.   Accounting  Terms;  GAAP.   Except  as  otherwise  expressly  provided   herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP,   as in effect from time to time; provided that, if after the date hereof there occurs any change in   GAAP  or  in  the  application  thereof  on  the  operation  of  any  provision  hereof  and  the  Borrower   notifies  the  Administrative  Agent  that  the  Borrower  requests  an  amendment  to  any  provision   hereof  to  eliminate  the  effect  of  such  change  in  GAAP  or  in  the  application  thereof  (or  if  the   Administrative Agent notifies the Borrower that the Required Lenders request an amendment to   any provision hereof for such purpose), regardless of whether any such notice is given before or   after such change in GAAP or in the application thereof, then such provision shall be interpreted   on the basis of GAAP as in effect and applied immediately before such change shall have become   effective until such notice shall have been withdrawn or such provision amended in accordance   herewith.   Notwithstanding  any other  provision  contained  herein,  all  terms  of  an  accounting  or   financial nature used herein shall be construed, and all computations of amounts and ratios referred   to  herein  shall  be  made  (i)  without  giving  effect  to  any  election  under  Financial  Accounting  Standards  Board  Accounting  Standards  Codification  825-10-25  (or  any  other  Accounting  Standards Codification or Financial Accounting Standard having a similar result or effect) to value  any Indebtedness or other liabilities of Holdings, the Borrower or any Subsidiary at “fair value”, as  defined  therein  and  (ii)  without  giving  effect  to  any  treatment  of  Indebtedness  in  respect  of  convertible debt instruments under Financial Accounting Standards Board Accounting Standards  Codification  470-20  (or  any  other Accounting  Standards  Codification  or  Financial  Accounting  Standard  having  a  similar  result  or  effect)  to  value  any  such  Indebtedness  in  a  reduced  or  bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the  full stated principal amount thereof.           SECTION 1.05.  Pro Forma Adjustments for Acquisitions and Dispositions.  To the extent   the  Borrower  or  any  Subsidiary  makes  any  acquisition  permitted pursuant  to  Section  6.04  or   disposition of assets outside the ordinary course of business permitted by Section 6.05 during the   period of four fiscal quarters of Holdings most recently ended, the Fixed Charge Coverage Ratio,                                         37                                               

 

                                                                                                                                                               Total Net Leverage Ratio and Net Senior Secured Leverage Ratio shall be calculated after giving   pro forma effect thereto (including pro forma adjustments which (i) arise out of events which are   directly attributable to the acquisition or the disposition of assets, (ii) (X) are supportable and are   expected to have a continuing impact, in each case as determined on a basis consistent with Article   11 of Regulation S-X of the Securities Act of 1933, as amended, as interpreted by the SEC or (Y)   otherwise  reasonably  acceptable  to  the  Required  Lenders,  and  (iii)  are  certified  by  a  Financial   Officer),  as  if  such  acquisition  or  such  disposition  (and  any  related  incurrence,  repayment  or   assumption of Indebtedness) had occurred in the first day of such four-quarter period.           SECTION 1.06.  Status of Obligations.  In the event that the Borrower or any other Loan   Party  shall  at  any  time  issue  or  have  outstanding  any  Subordinated  Indebtedness,  the  Borrower   shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the   Secured Obligations to constitute senior indebtedness (however denominated) in respect of such   Subordinated Indebtedness and to enable the Administrative Agent and the Lenders to have and   exercise any payment blockage or other remedies available or potentially available to holders of   senior  indebtedness  under  the  terms  of  such  Subordinated  Indebtedness.   Without  limiting  the  foregoing,  the  Secured  Obligations  are  hereby  designated  as  “senior  indebtedness”  and  as  “designated  senior  indebtedness”  and  words  of  similar  import  under  and  in  respect  of  any  indenture  or  other  agreement  or  instrument  under  which  such  Subordinated  Indebtedness  is  outstanding and are further given all such other designations as shall be required under the terms of  any such Subordinated Indebtedness in order that the Lenders may have and exercise any payment  blockage  or  other  remedies  available  or  potentially  available  to  holders  of  senior  indebtedness   under the terms of such Subordinated Indebtedness.                                        ARTICLE II                                        The Credits            SECTION 2.01. Commitments.  (a)  Subject to the terms and conditions set forth herein,   each Initial Term Lender severally (and not jointly) agrees to make an Initial Term Loan to the   Borrower in dollars on the Effective Date, in an amount equal to such Lender’s Initial Term Loan   Commitment by making immediately available funds available to the Administrative Agent as set   forth  in  Section  2.07,  not  later  than  the  time  specified  by  the  Administrative  Agent.   Amounts   repaid or prepaid in respect of Loans may not be reborrowed.            (b)  Subject to the terms and conditions of this Agreement and any applicable Refinancing   Amendment  or  Incremental  Facility  Amendment,  each  Lender  with  an  Additional  Term  Loan   Commitment of a given Class severally (and not jointly) agrees to make Additional Term Loans of   such Class to the Borrower in dollars, in an amount not to exceed at the time of any incurrence   thereof the Additional Term Loan Commitment of such Class of such Lender as set forth in the   applicable Refinancing Amendment or Incremental Facility Amendment by making immediately   available funds available to the Administrative Agent as set forth in Section 2.07, not later than the   time specified by the Administrative Agent.  Amounts repaid or prepaid in respect of Additional   Term Loans may not be reborrowed.            SECTION 2.02.     Loans and Borrowings.  (a)  Each Loan shall be made as part of a   Borrowing  consisting  of  Loans  of  the  same  Class  and  Type  made  by  the  Lenders  ratably  in                                         38                                               

 

                                                                                                                                                               accordance with their respective Commitments of the applicable Class.  The failure of any Lender   to make any Loan required to be made by it shall not relieve any other Lender of its obligations   hereunder;  provided  that  the  Commitments  of  the  Lenders  are  several  and  no  Lender  shall  be   responsible for any other Lender’s failure to make Loans as required.              (b)   Subject to Section 2.14, each Borrowing shall be comprised entirely of ABR Loans   or  Eurodollar  Loans  as  the  Borrower  may  request  in  accordance  herewith,  provided  that  all   Borrowings made on the Effective Date must be made as ABR Borrowings but may be converted   into Eurodollar Borrowings in accordance with Section 2.08.  Each Lender at its option may make   any  Eurodollar  Loan  by  causing  any  domestic  or  foreign  branch  or  Affiliate  of  such  Lender  to   make such Loan (and in the case of an Affiliate, the provisions of Sections 2.14, 2.15, 2.16 and   2.17 shall apply to such Affiliate to the same extent as to such Lender); provided that any exercise   of such option shall not affect the obligation of the Borrower to repay such Loan in accordance  with the terms of this Agreement.            (c)    At the commencement of each Interest Period for any Eurodollar Borrowing, such  Borrowing shall be in an aggregate amount that is an integral multiples of $100,000 and not less  than $1,000,000.  ABR Borrowings shall be in an aggregate amount that is not less than $100,000  and  integral  multiple  of  $100,000.   Borrowings  of  more  than  one  Type  and  Class  may  be  outstanding at the same time; provided that there shall not at any time be more than a total of eight   (8) Eurodollar Borrowings outstanding.              (d)   Notwithstanding any other provision of this Agreement, the Borrower shall not be   entitled  to  request,  or  to  elect  to  convert  or  continue,  any  Borrowing  if  the  Interest  Period   requested with respect thereto would end after the Maturity Date applicable to the relevant Loans.            SECTION 2.03.  Requests for Borrowings.  To request a Borrowing, the Borrower shall   notify the Administrative Agent of such request either in writing (delivered by hand or facsimile)   in a form approved by the Administrative Agent and signed by the Borrower or by telephone or   through Electronic System, if arrangements for doing so have been approved by the Administrative  Agent,  not  later  than  (a)  in  the  case  of  a  Eurodollar  Borrowing,  noon,  Chicago  time,  three  (3)   Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing,   noon,  Chicago  time,  on  the  date  of  the  proposed  Borrowing.   Each  such  telephonic  Borrowing   Request  shall  be  irrevocable  and,  if  requested  by  the  Administrative  Agent,  shall  be  confirmed   promptly  by  hand  delivery,  facsimile  or  a  communication  through  Electronic  System  to  the   Administrative Agent of a written Borrowing Request in a form approved by the Administrative   Agent and signed by the Borrower.  Each such telephonic and written Borrowing Request shall   specify the following information in compliance with Section 2.02:                              (i)    the aggregate amount of the requested Borrowing and a breakdown of the              separate wires comprising such Borrowing;                            (ii)   the date of such Borrowing, which shall be a Business Day;                            (iii)  whether such Borrowing is to be an ABR Borrowing or a Eurodollar               Borrowing; and                                                        39                                               

 

                                                                                                                                                                           (iv)  in  the  case  of  a  Eurodollar Borrowing,  the  initial  Interest  Period  to  be               applicable  thereto,  which  shall  be  a  period  contemplated  by  the  definition  of  the               term “Interest Period.”      If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an   ABR  Borrowing.   If  no  Interest  Period  is  specified  with  respect  to  any  requested  Eurodollar   Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s   duration.  Promptly following receipt of a Borrowing Request in accordance with this Section, the   Administrative Agent shall advise each Lender of the details thereof and of the amount of such   Lender’s Loan to be made as part of the requested Borrowing.            SECTION 2.04.  [Reserved]               SECTION 2.05.  [Reserved]              SECTION 2.06.  [Reserved]                 SECTION 2.07.  Funding of Borrowings.  (a)  Each Lender shall make each Loan to be   made  by  such  Lender  hereunder  on  the  proposed  date  thereof  solely  by  wire  transfer  of   immediately  available  funds  by  2:00  p.m.,  Chicago  time,  to  the account  of  the  Administrative   Agent most recently designated by it for such purpose by notice to the Lenders in an amount equal   to  such  Lender’s  Applicable  Percentage.   The  Administrative  Agent  will  make  such  Loans   available to the Borrower by promptly advancing funds so received to the Funding Account.           (b)    Unless the Administrative Agent shall have received notice from a Lender prior to   the proposed date of any Borrowing that such Lender will not make available to the Administrative  Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such  Lender  has  made  such  share  available  on  such  date  in  accordance  with  paragraph  (a)  of  this  Section  and  may,  in  reliance  upon  such  assumption,  make  available  to  the  Borrower  a  corresponding amount.  In such event, if a Lender has not in fact made its share of the applicable  Borrowing  available  to  the  Administrative  Agent,  then  the  applicable  Lender  and  the  Borrower  severally  agree  to  pay  to  the  Administrative  Agent  forthwith  on  demand  such  corresponding  amount  with  interest  thereon,  for  each  day  from  and  including  the  date  such  amount  is  made  available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i)  in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined  by the Administrative Agent in accordance with banking industry rules on interbank compensation  or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans.  If such Lender pays  such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan  included in such Borrowing.          SECTION  2.08.   Interest  Elections.   (a)   Each  Borrowing  initially  shall  be  of  the  Type   specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall   have an initial Interest Period as specified in such Borrowing Request.  Thereafter, the Borrower   may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the   case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section.    The  Borrower  may  elect  different  options  with  respect  to  different  portions  of  the  affected                                         40                                               

 

                                                                                                                                                            Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding  the  Loans  comprising  such  Borrowing,  and  the  Loans  comprising  each  such  portion  shall  be  considered a separate Borrowing.           (b)    To  make  an  election  pursuant  to  this  Section,  the  Borrower  shall  notify  the  Administrative Agent of such election by telephone or through Electronic System, if arrangements  for  doing  so  have  been  approved  by  the  Administrative  Agent,  by  the  time  that  a  Borrowing  Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the  Type resulting from such election to be made on the effective date of such election.  Each such  telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand  delivery, Electronic System or facsimile to the Administrative Agent of a written Interest Election  Request  in  a  form  approved  by  the  Administrative  Agent  and  signed  by  the  Borrower.     Notwithstanding any contrary provision herein, this Section shall not be construed to permit the  Borrower  to  elect  an  Interest  Period  for  Eurodollar  Loans  that does  not  comply  with  Section  2.02(d).          (c)   Each telephonic and written Interest Election Request (including requests submitted  through  Electronic  System)  shall  specify  the  following  information  in  compliance  with  Section 2.02:                            (i)  the  Borrowing  to  which  such  Interest  Election  Request  applies and, if        different options are being elected with respect to different portions thereof, the portions        thereof to be allocated to each resulting Borrowing (in which case the information to be        specified  pursuant  to  clauses  (iii)  and  (iv)  below  shall  be  specified  for  each  resulting        Borrowing);                            (ii)  the  effective  date  of  the  election  made  pursuant  to  such  Interest  Election        Request, which shall be a Business Day;                            (iii)  whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar        Borrowing; and                            (iv)  if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to        be  applicable  thereto  after  giving  effect  to  such  election,  which shall be a period        contemplated by the definition of the term “Interest Period”.                If  any  such  Interest  Election  Request  requests  a  Eurodollar  Borrowing  but  does  not  specify  an  Interest  Period,  then  the  Borrower  shall  be  deemed  to  have  selected  an  Interest  Period  of  one  month’s duration.         (d)    Promptly  following  receipt  of  an  Interest  Election  Request,  the  Administrative  Agent  shall  advise  each  Lender  of  the  details  thereof  and  of  such  Lender’s  portion  of  each  resulting Borrowing.         (e)   If the Borrower fails to deliver a timely Interest Election Request with respect to a  Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such  Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be                                        41                                             

 

                                                                                                                                                               converted to an ABR Borrowing.  Notwithstanding any contrary provision hereof, if a Default has  occurred and is continuing and the Administrative Agent, at the request of the Required Lenders,  so notifies the Borrower, then, so long as a Default is continuing (i) no outstanding Borrowing may  be  converted  to  or  continued  as  a Eurodollar Borrowing  and  (ii)  unless  repaid, each  Eurodollar  Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable  thereto.          SECTION  2.09.   Termination  of  Commitments.   Unless  previously terminated,  (a)  the   Initial  Term  Loan  Commitments  on  the  Effective  Date  shall  automatically  terminate  upon  the   making  of  the  Initial  Term  Loans  on  the  Effective  Date  and  (b) the  Additional  Term  Loan   Commitments of any Class shall automatically terminate upon the making of the Additional Term   Loans of such Class on the date that such Additional Term Loan Commitment is required to be   drawn pursuant to the applicable Refinancing Amendment or Incremental Facility Amendment.                   SECTION  2.10.   Repayment  and  Amortization  of  Loans;  Evidence  of  Debt.   (a)  The   Borrower hereby unconditionally promises to repay the Initial Term Loans to the Administrative   Agent for the account of each Initial Term Lender (i) commencing on December 30, 2016, and on   the  last  Business  Day  of  each  March,  June,  September  and  December  of  each  calendar  year   thereafter, in an annual amount (divided equally among all four fiscal quarters) equal to 1.00% of   the initial principal amount of the Initial Term Loans, as such payments may be reduced from time   to  time  as  a  result  of  the  application  of  prepayments  in  accordance  with  Section  2.11  or   repurchases  in  accordance  with  a  Dutch  Auction  or  increased  as a  result  of  any  increase  in  the   amount of such Initial Term Loans pursuant to Section 2.23(a)), and (ii) on the Initial Term Loan   Maturity Date, in an amount equal to the remainder of the principal amount of the Initial Term   Loans  outstanding  on  such  date,  together  in  each  case  with  accrued  and  unpaid  interest  on  the   principal amount to be paid to but excluding the date of such payment.                        (b)   The  Borrower  shall  repay  the  Additional  Term  Loans  of  any Class  in  such   scheduled amortization installments and on such date or dates as shall be specified therefor in the   applicable Refinancing Amendment, Incremental Facility Agreement or Extension Amendment (as   such payments may be reduced from time to time as a result of the application of prepayments in   accordance with Section 2.11 or repurchases in accordance with a Dutch Auction.                        (c)   Each  Lender  shall  maintain  in  accordance  with  its  usual  practice  an  account  or   accounts evidencing the Indebtedness of the Borrower to such Lender resulting from each Loan   made by such Lender, including the amounts of principal and interest payable and paid to such   Lender from time to time hereunder.            (d)   The Administrative Agent shall maintain accounts in which it shall record (i) the   amount  of  each  Loan  made  hereunder,  the  Class  and  Type  thereof and  the  Interest  Period   applicable thereto, (ii) the amount of any principal or interest due and payable or to become due   and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received   by  the  Administrative  Agent  hereunder  for  the  account  of  the  Lenders and  each  Lender’s share   thereof.           (e)    The entries made in the accounts maintained pursuant to paragraph (c) or (d) of this   Section  shall  be  prima  facie  evidence  of  the  existence  and  amounts  of  the  obligations  recorded                                         42                                               

 

                                                                                                                                                            therein;  provided  that  the  failure  of  any  Lender  or  the  Administrative  Agent  to  maintain  such  accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay  the Loans in accordance with the terms of this Agreement.         (f)    Any Lender may request that Loans made by it be evidenced by a promissory note.   In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note  payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns)  and in a form approved by the Administrative Agent.  Thereafter, the Loans evidenced by such  promissory  note  and  interest  thereon  shall  at  all  times  (including  after  assignment  pursuant  to  Section 9.04) be represented by one or more promissory notes in such form.          SECTION 2.11.  Prepayment of Loans.           (a) Optional Prepayments.  The Borrower shall have the right at any time and from time to  time to prepay any Borrowing of Loans of any Class in whole or in part, subject to (A) in the case  of  Borrowings  of  Initial  Term  Loans  only,  Section  2.12(c),  (B) prior  notice  in  accordance  with  paragraph (c) of this Section and, (C) if applicable, payment of any break funding expenses under  Section 2.16.  Each prepayment of Loans shall be applied to the Class of Loans specified in the  applicable prepayment notice, and each prepayment of Loans of such Class made pursuant to this  Section 2.11(a) shall be applied against the remaining scheduled installments of principal due in  respect of the Loans of such Class in the manner specified by the Borrower or, in the absence of  any  such  specification  on  or  prior  to  the  date  of  such  optional prepayment, in direct order of  maturity.  Each prepayment of any Loan shall be in an amount that would be permitted in the case  of an advance of a Borrowing of the same Type as provided in Section 2.02.          (b)   Mandatory Prepayments.                            (i)   No  later  than  ten  (10)  Business  Days  after  the  date  on  which  the        financial  statements  with  respect  to  each  fiscal  year  of  Holdings  are  required  to  be        delivered  pursuant  to  Section  5.01(a),  commencing  with  the  fiscal  year  ending  on        December 31, 2017, the Borrower shall prepay the outstanding principal amount of Loans        in  accordance  with  clause  (v)  of  this  Section  2.11(b)  below  in an  aggregate  principal        amount equal to (in each case, to the extent such amount in such fiscal year period exceeds        $5,000,000):                           (A)   the Required Excess Cash Flow Percentage of Excess Cash              Flow of Holdings and its Subsidiaries for the period then ended, minus                           (B)   at  the  option  of  the  Borrower,  without  duplication  of  any              amount deducted in calculating Excess Cash Flow for such period  and  excluding              any such payment that reduced the amount required to be prepaid pursuant to this              Section 2.11(b)(i) in the prior Excess Cash Flow fiscal year period, the aggregate              principal amount of:                                 (1)   except  to  the  extent  deducted  in  the  calculation  of                    Excess  Cash  Flow,  any  Loans  prepaid  pursuant  to  Section  2.11(a)  and                    prepaid  pursuant  to  the  relevant Incremental  Facility  Amendment (to the                    extent  that  such  prepayments  were  not  funded  with  the  proceeds of  other                                        43                                             

 

                                                                                                                                                            Indebtedness  of  Holdings,  the  Borrower  or  its  Subsidiaries  (other  than              Indebtedness in respect of any revolving credit facility)) prior to such date,              plus                           (2)   except  to  the  extent  deducted  in  the  calculation  of              Excess Cash Flow, the amount of any reduction in the outstanding amount              of any Loans resulting from any assignment made in accordance with any              Dutch  Auction  prior to  such  date, in  an  amount  equal to  the  lesser  of  the              actual amount of cash paid in connection with the relevant assignment and              the applicable reduction;               (ii)  In the event and on each occasion that any Net Proceeds in respect of  any Prepayment Event set forth in clause (a) or (b) of the definition thereof are received by  or  on  behalf  of  Holdings  or  any  other  Loan  Party  or  any  Subsidiary  in  respect  of  any  Prepayment Event, the Borrower shall, promptly after such Net Proceeds are received by  Holdings or any other Loan Party or Subsidiary, apply an amount equal to 100% of such  Net Proceeds (the “Subject Proceeds”) to prepay the outstanding principal amount of Initial  Term Loans and Additional Term Loans then subject to ratable prepayment requirements  (the “Subject Loans”) in accordance with clause (v) below; provided that to the extent such  Subject Proceeds constitute proceeds of ABL Priority Collateral and so long as the ABL  Obligations  remain  subject  to  the  Intercreditor  Agreement,  then  such  Subject  Proceeds  shall be applied first to prepay in full the ABL Obligations, with any excess to be applied  as  set  forth  above;  provided  further  that,  (A)  if  the  Borrower shall  deliver  to  the  Administrative Agent a certificate of a Financial Officer to the effect that the Loan Parties  intend to apply the Subject Proceeds from such event (or a portion thereof specified in such  certificate), within 180 days after receipt of such Subject Proceeds, to acquire (or replace or  rebuild) real property, equipment or other tangible assets to be used in the business of the  Loan Parties, and certifying that no Default has occurred and is continuing, then either (i)  so  long  as  no  Default  has  occurred  and  is  continuing,  no  prepayment  shall  be  required  pursuant to this paragraph in respect of the Subject Proceeds specified in such certificate, it  being understood that to the extent of any such Subject Proceeds therefrom that have not  been so applied (or commited in writing to be applied) by the end of such 180-day period, a  prepayment shall be required at such time in an amount equal to such Subject Proceeds that  have not been so applied or (B) if, at the time that any such prepayment would be required  hereunder, Holdings or any of its Subsidiaries is required to repay or repurchase any other  Indebtedness (or offer to repay or repurchase any Indebtedness) that is secured on a pari  passu  basis  with  any  Secured  Obligation  pursuant  to  the  terms  of  the  documentation  governing such Indebtedness with the Subject Proceeds (such Indebtedness required to be  so repaid or repurchased (or offered to be repaid or repurchased), the “Other Applicable  Indebtedness”),  then  the  relevant  Person  may  apply  the  Subject Proceeds  on  a pro rata  basis to the prepayment of the Subject Loans and to the repurchase or repayment of the  Other  Applicable  Indebtedness  (determined  on  the  basis  of  the  aggregate  outstanding  principal amount of the Subject Loans and the Other Applicable Indebtedness (or accreted  amount if such Other Applicable Indebtedness is extended with original issue discount) at  such time); it being understood that (1) the portion of the Subject Proceeds allocated to the  Other  Applicable  Indebtedness  shall  not  exceed  the  amount  of  the  Subject  Proceeds  required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof  (and the remaining amount, if any, of the Subject Proceeds shall be allocated to the Subject                                  44                                                    

 

                                                                                                                                                   Loans  in  accordance  with  the  terms  hereof),  and  the  amount  of  the  prepayment  of  the   Subject Loans that would have otherwise been required pursuant to this Section 2.11(b)(ii)   shall  be  reduced  accordingly  and  (2)  to  the  extent  the  holders of  the  Other  Applicable   Indebtedness  decline  to  have  such  Indebtedness  prepaid  or  repurchased,  the  declined   amount shall promptly (and in any event within ten Business Days after the date of such   rejection) be applied to prepay the Subject Loans in accordance with the terms hereof.                               (iii) In  the  event  that  Holdings  or  any  of  its  Subsidiaries  receives Net   Proceeds  in  respect  of  any  Prepayment  Event  set  forth  in  clause  (c)  of  the  definition   thereof, the Borrower shall, substantially simultaneously with (and in any event not later   than the next succeeding Business Day) the receipt of such Net Proceeds by the Borrower   or  its  applicable  Subsidiary,  apply  an  amount  equal  to  100%  of such  Net  Proceeds  to   prepay the outstanding principal amount of the relevant Loans in accordance with clause   (v) below.                (iv)  Any Term Lender may elect, by notice to the Administrative Agent   at or prior to the time and in the manner specified by the Administrative Agent, prior to any  prepayment of Loans required to be made by the Borrower pursuant to this Section 2.11(b),  to  decline  all  (but  not  a  portion)  of  its  Applicable  Percentage  of  such  prepayment  (such  declined amounts, the “Declined Proceeds”), in which case such Declined Proceeds may be   retained by the Borrower; provided that for the avoidance of doubt, no Lender may reject   any prepayment made under Section 2.11(b)(iii) above to the extent that such prepayment   is made with the Net Proceeds of (w) Refinance Indebtedness incurred to refinance all or a   portion of the Loans pursuant to Section 6.01(f), (x) Incremental Term Loans incurred to   refinance  all  or  a  portion  of  the  Loans  pursuant  to  Section  2.23,  (y) Replacement  Term   Loans  incurred  to  refinance  all  or  any  portion  of  the  Loans  in accordance  with  the   requirements of Section 9.02(f) and/or (z) Incremental Equivalent Debt incurred to finance   all or a portion of the Loans in accordance with the requirements of Section 6.01(s).  If any   Term Lender fails to deliver a notice to the Administrative Agent of its election to decline   receipt of its Applicable Percentage of any mandatory prepayment within the time frame  specified  by  the  Administrative  Agent,  such  failure  will  be  deemed  to  constitute  an  acceptance  of  such  Term  Lender’s  Applicable  Percentage  of  the  total  amount  of  such  mandatory prepayment of Loans.                (v)   Except to the extent less than pro rata treatment with the Initial Term  Loans  is  provided  for  in  any  Refinancing  Amendment,  any  Incremental  Facility  Amendment or any Extension Amendment, each prepayment of Loans pursuant to Section  2.11(b) shall be applied ratably to each Class of Loans then outstanding (provided that any  prepayment of Loans with the Net Proceeds of any Refinance Indebtedness, Incremental  Term Facility or Replacement Term Loans shall be applied to the applicable Class of Loans  being  refinanced  or  replaced).   With  respect  to  each  Class  of  Loans,  all  accepted  prepayments under Section 2.11(b) shall be applied on a pro rata basis against all remaining  scheduled  installments  of  principal due in respect of such Loans  payable  pursuant  to  Section 2.10, and each such prepayment shall be paid to the Term Lenders in accordance  with their respective Applicable Percentage of the applicable Class.  The amount of such  mandatory  prepayments  shall  be  applied  within  each  Class  first to  the  then  outstanding  Loans that are ABR Loans and then to the then outstanding Loans that are Eurodollar Rate                                   45                                                     

 

                                                                                                                                                                     Loans in a manner that minimizes the amount of any payments required to be made by the         Borrower pursuant to Section 2.16.                      (vi)  Prepayments  made  under  this  Section 2.11(b)  shall  be         (A) accompanied  by  accrued  interest  as  required  by  Section  2.13,  (B) subject  to  Section         2.16 and (C) in the case of prepayments of Initial Term Loans under clause (iii) above as         part of a Repricing Transaction, subject to Section 2.12(c), but shall otherwise be without         premium or penalty.          (c)  The  Borrower  shall  notify  the  Administrative  Agent  by  telephone  (confirmed  by         facsimile) or through Electronic System, if arrangements for doing so have been approved         by  the  Administrative  Agent,  of  any  prepayment  hereunder  not  later  than  10:00  a.m.,         Chicago time, (A) in the case of prepayment of a Eurodollar Revolving Borrowing, three         (3) Business Days before the date of prepayment, or (B) in the case of prepayment of an         ABR  Revolving Borrowing, one (1) Business Day before the date of prepayment.  Each         such  notice  shall  be  irrevocable  and  shall  specify  the  prepayment  date  and  the  principal         amount of each Borrowing or portion thereof to be prepaid.  Promptly following receipt of         any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders         of the contents thereof.              SECTION 2.12.  Fees.  (a)   The Borrower agrees to pay to the Administrative Agent, for   its own account, fees payable in the amounts and at the times separately agreed upon between the   Borrower and the Administrative Agent.           (b)  All  fees  payable  hereunder  shall  be  paid  on  the  dates  due,  in  immediately  available   funds, to the Administrative Agent.  Fees paid shall not be refundable under any circumstances.           (c)    If a Repricing Transaction occurs during the period beginning on the Amendment   No. 2 Effective Date and ending on (and including) the day which occurs six months thereafter, the   Borrower  will  pay  to  the  Administrative  Agent  for  the  ratable  account  of  each  Lender  with   outstanding  Initial  Term  Loans  which  are  repaid  or  prepaid  pursuant  to  such  Repricing   Transaction, a premium (the “Repricing Premium”) in an amount equal to 1.0% of the principal   amount of the Initial Term Loans prepaid or, in the case of any amendment, the principal amount   of  the  Initial  Term  Loans  outstanding  prior  to  such  amendment  (including  each  Lender  that   withholds its consent to such Repricing Transaction and is replaced or repaid as a Non-Consenting   Lender under Section 9.02(d)), a fee in an amount equal to 1.0% of (x) in the case of a Repricing  Transaction  of  the  type  described  in  clause  (a) of  the  definition  thereof,  the  aggregate  principal  amount  of  all  Initial  Term  Loans  prepaid  (or  converted)  in  connection  with  such  Repricing  Transaction and (y) in the case of a Repricing Transaction described in clause (b) of the definition  thereof, the aggregate principal amount of all Initial Term Loans outstanding on such date pursuant  to such Repricing Transaction.  If the Repricing Premium shall be required to be paid pursuant to  the forgoing sentence, the Premium shall be due and owing in connection with such prepayment,  including  without  limitation  if  such  prepayment  is  (i)  mandatory  or  optional,  (ii)  made  when  a  Default or Event of Default is then outstanding, (iii) the result of or subsequent to the acceleration  of the Loans for any reason at any time, including, without limitation, as a result of any Defaults  described in Article VII, and, in the case of insolvency, reorganization or like proceeding, whether  or not a claim for the Repricing Premium is allowed in such proceeding, (iv) made pursuant to, or  as  the  consequence  of,  any  regulatory  or  judicial  enforcement  or  other  actions  from  any                                         46                                               

 

                                                                                                                                                               Governmental  Authority,  or  (v)  made  pursuant  to,  or  as  the  consequence  of,  of  any  bankruptcy   proceeding or pursuant to the Bankruptcy Code or similar law.            SECTION 2.13.  Interest.  (a)  The Loans comprising ABR Borrowings shall bear interest   at the Alternate Base Rate plus the Applicable Rate.           (b)    The  Loans  comprising  each  Eurodollar  Borrowing  shall  bear interest  at  the   Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.            (c)   [Reserved].           (d)    Notwithstanding the foregoing, during the occurrence and continuance of an Event   of Default, the Administrative Agent or the Required Lenders may, at their option, by notice to the   Borrower  (which  notice  may  be  revoked  at the  option  of  the  Required Lenders notwithstanding   any  provision  of  Section  9.02  requiring  the  consent  of  “each  Lender  affected  thereby”  for   reductions  in  interest  rates),  declare  that  (i)  all  Loans  shall bear interest at 2% plus the rate   otherwise applicable to such Loans as provided in the preceding paragraphs of this Section or (ii)   in the case of any other amount outstanding hereunder, such amount shall accrue at 2% plus the   rate applicable to such fee or other obligation as provided hereunder.            (e)   Accrued interest on each Loan (for ABR Loans, accrued through the last day of the  prior calendar month) shall be payable in arrears on each Interest Payment Date for such Loan and  upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (d)   of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of   any Loan (other than a prepayment of an ABR Loan prior to the Maturity Date), accrued interest   on  the  principal  amount  repaid  or  prepaid  shall  be  payable  on  the  date  of  such  repayment  or   prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the   current Interest Period therefor, accrued  interest  on  such  Loan  shall  be payable  on the  effective   date of such conversion.            (f)   All interest hereunder shall be computed on the basis of a year of 360 days, except   that interest computed by reference to the Alternate Base Rate shall be computed on the basis of a   year  of  365  days  (or  366  days  in  a  leap  year),  and  in  each  case shall be payable for the actual   number  of  days  elapsed  (including  the  first  day  but  excluding  the  last  day).   The  applicable  Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative  Agent, and such determination shall be conclusive absent manifest error.          SECTION 2.14.  Alternate Rate of Interest.              (a) If prior to the commencement of any Interest Period for a Eurodollar Borrowing:                 (i)   the  Administrative  Agent  determines  (which  determination shall  be         conclusive and binding absent manifest error) that adequate and reasonable means do not         exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable (including,         without limitation, because the LIBO Screen Rate is not available or published on a current         basis), for such Interest Period; or                                            47                                               

 

                                                                                                                                                                          (ii)   the  Administrative  Agent is  advised  by  the  Required  Lenders  that  the         Adjusted LIBO Rate or the LIBO Rate, as applicable, for the applicable Interest Period will         not adequately and fairly reflect the cost to such Lenders of making or maintaining their         Loans included in such Borrowing for such Interest Period;    then the Administrative Agent shall give notice thereof to the Borrower and the Lenders through  Electronic System as provided in Section 9.01 as promptly as practicable thereafter and, until the  Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to  such notice no longer exist, (i) any Interest Election Request that requests the conversion of any  Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective  and any such Eurodollar Borrowing shall be repaid or converted into an ABR Borrowing on the  last day of the then current Interest Period applicable thereto, and (ii) if any Borrowing Request  requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing.          (b)   If at any time the Administrative Agent determines (which determination shall be   conclusive absent manifest error) that (i) the circumstances set forth in clause (a)(i) have arisen   and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause   (a)(i)  have  not  arisen  but  the  supervisor  for  the  administrator  of  the  LIBO  Screen  Rate  or  a   Governmental  Authority  having  jurisdiction  over  the  Administrative  Agent  has  made  a  public   statement identifying a specific date after which the LIBO Screen Rate shall no longer be used for   determining  interest  rates  for  loans,  then  the  Administrative  Agent  and  the  Borrower  shall   endeavor to establish an alternate rate of interest to the LIBO Rate that gives due consideration to   the then prevailing market convention for determining a rate of interest for syndicated loans in the   U.S. at such time, and shall enter into an amendment to this Agreement to reflect such alternate   rate of interest and such other related changes to this Agreement as may be applicable (but for the   avoidance of doubt, such related changes shall not include a reduction of the Applicable Rate);   provided that, if such alternate rate of interest as so determined would be less than zero, such rate   shall be deemed to be zero for the purposes of this Agreement. Notwithstanding anything to the   contrary in Section 9.02, such amendment shall become effective without any further action or   consent of any other party to this Agreement so long as the Administrative Agent shall not have   received, within five Business Days of the date notice of such alternate rate of interest is provided   to the Lenders, a written notice from the Required Lenders stating that such Required Lenders   object to such amendment. Until an alternate rate of interest shall be determined in accordance   with  this  clause  (b)  (but,  in  the  case  of  the  circumstances  described  in  clause  (ii)  of  the  first   sentence of this Section 2.14(b), only to the extent the LIBO Screen Rate for such Interest Period   is not available or published at such time on a current basis), (x) any Interest Election Request   that  requests  the  conversion  of  any  Borrowing  to,  or  continuation  of  any  Borrowing  as,  a   Eurodollar Borrowing shall be ineffective and any such Eurodollar Borrowing shall be repaid or   converted into an ABR Borrowing on the last day of the then current Interest Period applicable   thereto, and (y) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall   be made as an ABR Borrowing.                   SECTION 2.15.  Increased Costs.  (a) If any Change in Law shall:                              (i)   impose, modify or deem applicable any reserve, special deposit, liquidity or         similar requirement (including any compulsory loan requirement, insurance charge or other         assessment) against assets of, deposits with or for the account of, or credit extended by, any                                         48                                               

 

                                                                                                                                                                     Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate);                              (ii)   impose on any Lender or the London interbank market any other condition,         cost  or  expense  (other  than  Taxes)  affecting  this  Agreement  or Loans  made  by  such         Lender; or                   (iii)   subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B)         Taxes  described  in  clauses  (b)  through  (d)  of  the  definition  of  Excluded  Taxes  and  (C)         Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or         other obligations, or its deposits, reserves, other liabilities or capital attributable thereto;       and the result of any of the foregoing shall be to increase the cost to such Lender or such other   Recipient of making, continuing, converting into or maintaining any Loan (or of maintaining its   obligation to make any such Loan) or to reduce the amount of any sum received or receivable by   such Lender or such other Recipient hereunder (whether of principal, interest or otherwise), then   the Borrower will pay to such Lender or such other Recipient, as the case may be, such additional   amount or amounts as will compensate such Lender or such other Recipient, as the case may be,   for such additional costs incurred or reduction suffered.                  (b)   If  any  Lender  determines  that  any  Change  in  Law  regarding capital or   liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s   capital  or  on  the  capital  of  such  Lender’s  holding  company,  if any,  as  a  consequence  of  this   Agreement, the Commitments of, or the Loans made by, such Lender, to a level below that which   such Lender or such Lender’s holding company could have achieved but for such Change in Law   (taking  into  consideration  such  Lender’s  policies  and  the  policies  of  such  Lender’s  holding   company with respect to capital adequacy and liquidity), then from time to time the Borrower will   pay to such Lender such additional amount or amounts as will compensate such Lender or such   Lender’s holding company for any such reduction suffered.                  (c)   A certificate of a Lender setting forth the amount or amounts necessary to   compensate such Lender or its holding company, as the case may be, as specified in paragraph (a)   or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest   error.   The  Borrower  shall  pay  such  Lender  the  amount  shown  as due  on  any  such  certificate   within ten (10) days after receipt thereof.                    (d)   Failure or delay on the part of any Lender to demand compensation pursuant  to this Section shall not constitute a waiver of such Lender’s right to demand such compensation;  provided that the Borrower shall not be required to compensate a Lender pursuant to this Section   for  any  increased  costs  or  reductions  incurred  more  than  270  days  prior  to  the  date  that  such   Lender  notifies  the  Borrower  of  the  Change  in  Law  giving  rise  to  such  increased  costs  or   reductions and of such Lender’s intention to claim compensation therefor; provided further that, if   the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270-day   period referred to above shall be extended to include the period of retroactive effect thereof.           SECTION 2.16.  Break Funding Payments.  In the event of (a) the payment of any principal   of  any  Eurodollar  Loan  other  than  on  the  last  day  of  an  Interest  Period  applicable  thereto   (including as a result of an Event of Default or as a result of any prepayment pursuant to Section                                         49                                               

 

                                                                                                                                                               2.11), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period   applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on   the date specified in any notice delivered pursuant hereto, or (d) the assignment of any Eurodollar   Loan other than on the last day of the Interest Period applicable thereto as a result of a request by   the  Borrower  pursuant  to  Section 2.19  or  9.02(d),  then,  in  any such  event,  the  Borrower  shall   compensate each Lender for the amount required to make such Lender whole as a result of such   event.  In the case of a Eurodollar Loan, such amount to any Lender shall be deemed to include an   amount determined by such Lender to be the excess, if any, of (i) the amount of interest which   would have accrued on the principal amount of such Eurodollar Loan had such event not occurred,   at the Adjusted LIBO Rate that would have been applicable to such Eurodollar Loan, for the period   from the date of such event to the last day of the then current Interest Period therefor (or, in the   case of a failure to borrow, convert or continue, for the period that would have been the Interest   Period  for  such  Eurodollar  Loan),  over  (ii)  the  amount  of  interest  which  would  accrue  on  such   principal amount for such period at the interest rate which such Lender would bid were it to bid, at   the commencement of such period, for dollar deposits of a comparable amount and period from   other  banks  in  the  eurodollar  market.   A  certificate  of  any  Lender  setting  forth  any  amount  or   amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the   Borrower and shall be conclusive absent demonstrable error.  The Borrower shall pay such Lender   the amount shown as due on any such certificate within ten (10) days after receipt thereof.            SECTION 2.17. Withholding of Taxes; Gross-Up. (a)  Payments Free of Taxes.  Any and   all payments by or on account of any obligation of any Loan Party under any Loan Document shall   be made without deduction or withholding for any Taxes, except as required by applicable law.  If   any applicable law (as determined in the good faith discretion of an applicable withholding agent)  requires the deduction or withholding of any Tax from any such payment by a withholding agent,  then the applicable withholding agent shall be entitled to make such deduction or withholding and  shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in  accordance with applicable law and, if such Tax is an Indemnified Tax, then the sum payable by  the  applicable  Loan  Party  shall  be  increased  as  necessary  so  that  after  such  deduction  or  withholding has been made (including such deductions and withholdings applicable to additional  sums payable under this Section 2.17) the applicable Recipient receives an amount equal to the  sum it would have received had no such deduction or withholding been made.          (b)  Payment of Other Taxes by the Loan Parties.  The Loan Parties shall timely pay to the   relevant  Governmental  Authority  in  accordance  with  applicable  law,  or  at  the  option  of  the   Administrative Agent timely reimburse it for, Other Taxes.          (c)  Evidence of Payment.  As soon as practicable after any payment of Taxes by any Loan   Party to a Governmental Authority pursuant to this Section 2.17, such Loan Party shall deliver to   the Administrative Agent the original or a certified copy of a receipt issued by such Governmental   Authority evidencing such payment, a copy of the return reporting such payment or other evidence   of such payment reasonably satisfactory to the Administrative Agent.          (d)   Indemnification  by  the  Loan  Parties.   The  Loan  Parties  shall  jointly  and  severally   indemnify each Recipient, within ten (10) days after demand therefor, for the full amount of any   Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts   payable  under  this  Section)  payable  or  paid  by  such  Recipient  or  required  to  be  withheld  or   deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with                                         50                                               

 

                                                                                                                                                               respect  thereto,  whether  or  not  such  Indemnified  Taxes  were  correctly  or  legally  imposed  or   asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment   or liability delivered to any Loan Party by a Lender (with a copy to the Administrative Agent), or   by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent   manifest error.          (e)   Indemnification  by  the  Lenders.   Each  Lender  shall  severally  indemnify  the   Administrative Agent, within ten (10) days after demand therefor, for (i) any Indemnified Taxes   attributable to such Lender (but only to the extent that any Loan Party has not already indemnified   the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the   Loan  Parties  to  do  so),  (ii)  any  Taxes  attributable  to  such  Lender’s failure to comply with the   provisions  of  Section  9.04(c)  relating  to  the  maintenance  of  a Participant  Register  and  (iii)  any   Excluded  Taxes  attributable  to  such  Lender,  in  each  case,  that are  payable  or  paid  by  the   Administrative  Agent  in  connection  with  any  Loan  Document,  and any  reasonable  expenses   arising  therefrom  or  with  respect  thereto,  whether  or  not  such Taxes  were  correctly  or  legally   imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of   such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive   absent  manifest  error.   Each  Lender  hereby  authorizes  the  Administrative  Agent  to  set  off  and   apply  any  and  all  amounts  at  any  time  owing  to  such  Lender  under  any  Loan  Document  or   otherwise payable by the Administrative Agent to such Lender from any other source against any   amount due to the Administrative Agent under this paragraph (e).          (f)  Status of Lenders.  (i) Any Lender that is entitled to an exemption from or reduction of   withholding  Tax  with respect  to  payments  made  under any  Loan  Document  shall deliver  to  the   Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower   or  the  Administrative  Agent,  such  properly  completed  and  executed  documentation  reasonably   requested by the Borrower or the Administrative Agent as will permit such payments to be made   without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably   requested  by  the  Borrower  or  the Administrative  Agent,  shall  deliver such  other documentation   prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent   as will enable the Borrower or the Administrative Agent to determine whether or not such Lender   is subject to backup withholding or information reporting requirements.  Notwithstanding anything   to the contrary in the preceding two sentences, the completion, execution and submission of such   documentation  (other  than  such  documentation  set  forth  in  Section  2.17(f)(ii)(A),  (ii)(B)  and   (ii)(D)  below)  shall not  be  required  if  in  the  Lender’s  reasonable  judgment  such  completion,   execution or submission would subject such Lender to any material unreimbursed cost or expense   or would materially prejudice the legal or commercial position of such Lender.                (ii) Without limiting the generality of the foregoing, in the event that the Borrower   is a U.S. Person,                               (A)  any  Lender  that  is  a  U.S.  Person  shall  deliver  to  the  Borrower  and  the   Administrative Agent on or prior to the date on which such Lender becomes a Lender under this   Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the   Administrative  Agent),  an  executed  IRS  Form  W-9  certifying  that  such  Lender  is  exempt  from  U.S. Federal backup withholding tax;                                                         51                                               

 

                                                                                                                                                                        (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to  the Borrower and the Administrative Agent (in such number of copies as shall be requested by the  recipient)  on  or  prior  to  the  date  on  which  such  Foreign  Lender  becomes  a  Lender  under  this  Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the  Administrative Agent), whichever of the following is applicable:                      (1)  in the case of a Foreign Lender claiming the benefits of an income tax              treaty to which the United States is a party (x) with respect to payments of interest              under  any  Loan  Document,  an  executed  IRS  Form  W-8BEN  or  IRS  Form  W-             8BEN-E,  as  applicable,  establishing  an  exemption  from,  or  reduction  of,  U.S.              Federal withholding Tax pursuant to the “interest” article of such tax treaty and (y)              with respect to any other applicable payments under any Loan Document, IRS Form              W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from,              or reduction of, U.S. Federal withholding Tax pursuant to the “business profits” or             “other income” article of such tax treaty;                                 (2)  in the case of a Foreign Lender claiming that its extension of credit will             generate U.S. effectively connected income, an executed IRS Form W-8ECI;                          (3) in the case of a Foreign Lender claiming the benefits of the exemption             for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially             in the form of Exhibit F-1 to the effect that such Foreign Lender is not a “bank”             within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder”             of  the  Borrower  within  the  meaning  of  Section  881(c)(3)(B)  of  the  Code,  or  a             “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a              “U.S. Tax Compliance Certificate”) and (y) an executed IRS Form W-8BEN or IRS              Form W-8BEN-E, as applicable; or                                        (4) to the extent a Foreign Lender is not the Beneficial Owner, an executed              IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or             IRS  Form  W-8BEN-E,  as  applicable,  a  U.S.  Tax  Compliance  Certificate             substantially in the form of Exhibit C-2 or Exhibit C-3, IRS Form W-9, and/or other              certification documents from each Beneficial Owner, as applicable; provided that if              the Foreign Lender is a partnership and one or more direct or indirect partners of              such  Foreign  Lender  are  claiming  the  portfolio  interest  exemption,  such  Foreign              Lender may provide a U.S. Tax Compliance Certificate substantially in the form of              Exhibit C-4 on behalf of each such direct and indirect partner;                      (C)  any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to  the Borrower and the Administrative Agent (in such number of copies as shall be requested by the  recipient)  on  or  prior  to  the  date  on  which  such  Foreign  Lender  becomes  a  Lender  under  this  Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the  Administrative  Agent),  executed originals  of  any  other  form  prescribed  by  applicable  law  as  a  basis  for  claiming  exemption  from  or  a  reduction  in  U.S.  Federal  withholding  Tax,  duly  completed, together with such supplementary documentation as may be prescribed by applicable  law to permit the Borrower or the Administrative Agent to determine the withholding or deduction  required to be made; and                                        52                                             

 

                                                                                                                                                                                          (D) if a payment made to a Lender under any Loan Document would be subject to   U.S. Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the   applicable  reporting  requirements  of  FATCA  (including  those  contained  in  Section  1471(b)  or  1472(b)  of  the  Code,  as  applicable),  such  Lender  shall  deliver to  the  Borrower  and  the  Administrative Agent at the time or times prescribed by law and at such time or times reasonably  requested  by  the  Borrower  or  the  Administrative  Agent  such  documentation  prescribed  by  applicable  law  (including  as  prescribed  by  Section  1471(b)(3)(C)(i)  of  the  Code)  and  such  additional  documentation  reasonably  requested by  the  Borrower  or  the  Administrative  Agent  as  may be necessary for the Borrower and the Administrative Agent to comply with their obligations  under  FATCA  and  to  determine  that  such  Lender  has  complied  with  such  Lender’s  obligations  under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for  purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the  date of this Agreement.                Each  Lender  agrees  that  if  any  form  or  certification  it  previously  delivered  expires  or  becomes  obsolete  or  inaccurate  in any  respect,  it  shall  update such  form  or  certification  or  promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do  so.                (g)  Treatment of Certain Refunds.  If any party determines, in its sole discretion exercised   in  good  faith,  that  it  has  received  a  refund  of  any  Taxes  as  to  which  it  has  been  indemnified   pursuant  to  this  Section  2.17  (including  by  the  payment  of  additional  amounts  pursuant  to  this   Section 2.17), it shall pay to the indemnifying party an amount equal to such refund (but only to   the extent of indemnity payments made under this Section 2.17 with respect to the Taxes giving   rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party   and  without  interest  (other  than any  interest  paid  by  the  relevant  Governmental  Authority  with   respect  to  such  refund).   Such indemnifying  party,  upon  the  request  of  such  indemnified  party,   shall repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any   penalties, interest or other charges imposed by the relevant Governmental Authority) in the event   that  such  indemnified  party  is  required  to  repay  such  refund  to  such  Governmental  Authority.    Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified   party be required to pay any amount to an indemnifying party pursuant to this paragraph (g) the   payment of which would place the indemnified party in a less favorable net after-Tax position than   the indemnified party would have been in if the Tax subject to indemnification and giving rise to   such  refund  had  not  been  deducted,  withheld  or  otherwise  imposed  and  the  indemnification  payments or additional amounts giving rise to such refund had never been paid.  This paragraph (g)  shall not be construed to require any indemnified party to make available its Tax returns (or any  other information relating to its Taxes that it deems confidential) to the indemnifying party or any  other Person.         (h)  Survival.  Each party’s obligations under this Section 2.17 shall survive the resignation   or replacement of the Administrative Agent or any assignment of rights by, or the replacement of,   a Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all   obligations under any Loan Document.          (i)  Defined Terms.  For purposes of this Section 2.17, the term “applicable law” includes   FATCA.                                         53                                               

 

                                                                                                                                                                       SECTION  2.18.   Payments  Generally;  Allocation  of  Proceeds;  Sharing of Set-offs.  (a)    The Borrower shall make each payment required to be made by it hereunder (whether of principal,   interest, fees, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 2:00  p.m.,  Chicago  time,  on  the  date  when  due,  in  immediately  available  funds,  without  set-off  or  counterclaim.   Any  amounts  received  after  such  time  on  any  date  may,  in  the  discretion  of  the  Administrative Agent, be deemed to have been received on the next succeeding Business Day for  purposes of calculating interest thereon.  All such payments shall be made to the Administrative  Agent at its offices at 10 South Dearborn Street, Floor L2, Chicago, Illinois, except that payments  pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to the Persons entitled thereto.   The Administrative Agent shall distribute any such payments received by it for the account of any  other  Person  to  the  appropriate  recipient  promptly  following  receipt  thereof.   If  any  payment  hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended  to the next succeeding Business Day, and, in the case of any payment accruing interest, interest  thereon shall be payable for the period of such extension.  All payments hereunder shall be made  in  dollars.   Each  Borrowing,  each  payment  or  prepayment  of  principal  of  any  Borrowing,  each  payment of interest on the Loans of a given Class and each conversion of any Borrowing to or  continuation  of  any  Borrowing  as  a  Borrowing  of  any  Type  (and  of  the  same  Class)  shall  be  allocated pro rata among the Lenders in accordance with their respective Applicable Percentages  of the applicable Class.          (b)    All proceeds of Collateral received by the Administrative Agent while an Event of  Default  exists  and  all  or  any  portion  of  the  Loans  have  been  accelerated  hereunder  pursuant  to  Article  VII,  shall  be  applied,  first,  to  pay  any  fees,  indemnities,  or  expense  reimbursements   including  amounts  then  due  to  the  Administrative  Agent  from  the  Borrower  (other  than  in   connection with Banking Services Obligations or Swap Agreement Obligations), second, to pay   any  fees  or  expense  reimbursements  then  due  to  the  Lenders  from  the  Borrower  (other  than  in   connection  with  Banking  Services  Obligations  or  Swap  Agreement Obligations),  third,  to  pay   interest then due and payable on the Loans ratably, fourth, to prepay principal on the Loans and to   pay  any  amounts  owing  with  respect  to  Swap  Agreement  Obligations  up  to  and  including  the   amount most recently provided to the Administrative Agent pursuant to Section 2.22, ratably, fifth,   to  payment  of  any  amounts  owing  with  respect  to  Banking  Services  Obligations  and  Swap   Agreement  Obligations  up  to  and  including  the  amount  most  recently  provided  to  the   Administrative Agent pursuant to Section 2.22 and to the extent not paid pursuant to clause fourth   above, and sixth, to the payment of any other Secured Obligation due to the Administrative Agent   or any Lender by the Borrower.  Notwithstanding the foregoing, amounts received from any Loan   Party shall not be applied to any Excluded Swap Obligation of such Loan Party.  Notwithstanding  anything to the contrary contained in this Agreement, unless so directed by the Borrower, or unless   a Default is in existence, neither the Administrative Agent nor any Lender shall apply any payment  which it receives to any Eurodollar Loan of a Class, except (a) on the expiration date of the Interest  Period applicable thereto or (b) in the event, and only to the extent, that there are no outstanding  ABR Loans of a Class and, in any such event, the Borrower shall pay the break funding payment  required in accordance with Section 2.16. The Administrative Agent and the Lenders shall have  the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and  payments to any portion of the Secured Obligations.                                                          54                                               

 

                                                                                                                                                                     (c)   At the election of the Administrative Agent, all payments of principal, interest, fees,   premiums, reimbursable expenses (including, without limitation, all reimbursement for fees, costs   and expenses pursuant to Section 9.03), and other sums payable under the Loan Documents, may   be paid from the proceeds of Borrowings made hereunder whether made following a request by the   Borrower  pursuant  to  Section  2.03  or  a  deemed  request  as  provided  in  this  Section  or  may  be   deducted from any deposit account of the Borrower maintained with the Administrative Agent.                    (d)   If, except as otherwise expressly provided herein, any Lender shall, by exercising   any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or   interest on any of its Loans of any Class resulting in such Lender receiving payment of a greater   proportion of the aggregate amount of its Loans of such Class and accrued interest thereon than the   proportion  received  by  any  other  similarly  situated  Lender  with Loans of such Class, then the   Lender receiving such greater proportion shall purchase (for cash at face value) participations in   the Loans of such Class of other Lenders of such Class to the extent necessary so that the benefit of   all such payments shall be shared by all such Lenders ratably in accordance with the aggregate   amount of principal of and accrued interest on their respective Loans of such Class; provided that   (i) if any such participations are purchased and all or any portion of the payment giving rise thereto   is recovered,  such participations shall be rescinded and the purchase price restored to the extent of   such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to   apply to any payment made by the Borrower pursuant to and in accordance with the express terms   of this Agreement or any payment obtained by a Lender as consideration for the assignment of or   sale of a participation in any of its Loans to any assignee or participant, other than to Holdings or   any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply).  The   Borrower  consents  to  the  foregoing  and  agrees,  to  the  extent  it  may  effectively  do  so  under   applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements   may  exercise  against  the  Borrower  rights  of  set-off  and  counterclaim  with  respect  to  such   participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such   participation.           (e)    Unless the Administrative Agent shall have received notice from the Borrower prior  to  the  date  on  which  any  payment  is  due  to  the  Administrative  Agent  for  the  account  of  the  Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may  assume that the Borrower has made such payment on such date in accordance herewith and may, in  reliance  upon  such  assumption,  distribute  to  the  Lenders  the  amount  due.   In  such  event,  if  the   Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to   the  Administrative  Agent  forthwith  on  demand  the  amount  so  distributed  to  such  Lender  with   interest thereon, for each day from and including the date such amount is distributed to it to but   excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds   Effective  Rate  and  a  rate  determined  by  the  Administrative  Agent  in  accordance  with  banking   industry rules on interbank compensation.           (f)    If any Lender shall fail to make any payment required to be made by it hereunder,   then  the  Administrative  Agent  may,  in  its  discretion  (notwithstanding  any  contrary  provision   hereof), (i) apply any amounts thereafter received by the Administrative Agent for the account of   such Lender and for the benefit of the Administrative Agent to satisfy such Lender’s obligations   hereunder until all such unsatisfied obligations are fully paid and/or (ii) hold any such amounts in a  segregated  account  over  which  the  Administrative  Agent  shall  have  exclusive  control  as  cash                                         55                                               

 

                                                                                                                                                               collateral  for,  and  application  to,  any  future  funding  obligations  of  such  Lender  hereunder.    Application of amounts pursuant to (i) and (ii) above shall be made in any order determined by the   Administrative Agent in its discretion.           (g)    The  Administrative  Agent  may  from  time  to  time  provide  the  Borrower  with   account statements or invoices with respect to any of the Secured Obligations (the “Statements”).    The Administrative Agent is under no duty or obligation to provide Statements, which, if provided,   will be solely for the Borrower’s convenience.  Statements may contain estimates of the amounts   owed  during  the  relevant  billing  period,  whether  of  principal, interest,  fees  or  other  Secured   Obligations.  If the Borrower pays the full amount indicated on a Statement on or before the due   date indicated on such Statement, the Borrower shall not be in default of payment with respect to   the  billing  period  indicated  on  such  Statement;  provided,  that acceptance  by  the  Administrative   Agent, on behalf of the Lenders, of any payment that is less than the total amount actually due at   that time (including but not limited to any past due amounts) shall not constitute a waiver of the   Administrative Agent’s or the Lenders’ right to receive payment in full at another time.            SECTION 2.19.  Mitigation Obligations; Replacement of Lenders.              (a)   If  any  Lender  requests  compensation  under  Section 2.15,  or  if the  Borrower  is   required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental   Authority  for  the  account  of  any  Lender  pursuant  to  Section 2.17,  then  such  Lender  shall  use   reasonable  efforts  to  designate  a  different  lending  office  for funding  or  booking  its  Loans   hereunder or to assign its rights and obligations hereunder to another of its offices, branches or   affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or   reduce amounts payable pursuant to Section 2.15 or 2.17, as the case may be, in the future and (ii)   would not subject such Lender to any unreimbursed cost or expense and would not otherwise be   disadvantageous  to  such  Lender.   The  Borrower  hereby  agrees  to pay  all  reasonable  costs  and   expenses incurred by any Lender in connection with any such designation or assignment.            (b)   If  any  Lender  requests  compensation  under  Section 2.15,  or  if the  Borrower  is   required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental   Authority  for  the  account  of any  Lender  pursuant  to  Section 2.17,  or  if  any  Lender  becomes  a   Defaulting  Lender,  then  the  Borrower  may,  at  its  sole  expense  and  effort,  upon  notice  to  such   Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse   (in accordance with and subject to the restrictions contained in Section 9.04), all its interests, rights   (other than its existing rights to payments pursuant to Section 2.15 or 2.17) and obligations under   this  Agreement  and  other  Loan  Documents  to  an  Eligible  Assignee  that  shall  assume  such   obligations  (which  Eligible  Assignee  may  be  another  Lender,  if a  Lender  accepts  such   assignment); provided that (i) the Borrower shall have received the prior written consent of the   Administrative  Agent, which  consent  shall  not  unreasonably  be  withheld,  (ii)  such  Lender  shall  have  received  payment  of  an  amount  equal  to  the  outstanding  principal  of  its  Loans,  accrued  interest  thereon,  accrued  fees  and  all  other  amounts  payable  to  it  hereunder,  from  the  Eligible  Assignee  (to  the  extent  of  such  outstanding  principal  and  accrued  interest  and  fees)  or  the  Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting  from a claim for compensation under Section 2.15 or payments required to be made pursuant to  Section 2.17,  such  assignment  will  result  in  a  reduction  in  such  compensation  or  payments.   A  Lender shall not be required to make any such assignment and delegation if, prior thereto, as a                                         56                                               

 

                                                                                                                                                               result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require   such assignment and delegation cease to apply.              SECTION  2.20.  Defaulting Lenders.  Notwithstanding any provision of this Agreement to   the contrary, if any Lender becomes a Defaulting Lender, then such Defaulting Lender shall not   have the right to vote on any issue on which voting is required (other than to the extent expressly   provided  in  Section  9.02(b))  and  the  Loans  of  such  Defaulting  Lender  shall  not  be  included  in   determining whether the Required Lenders have taken or may take any action hereunder (including   any consent to any amendment, waiver or other modification pursuant to Section 9.02) or under   any other Loan Document; provided, that, this shall not apply to the vote of a Defaulting Lender in   the case of an amendment, waiver or other modification requiring the consent of such Lender or  each Lender directly affected thereby.          SECTION 2.21.  Returned Payments.  If after receipt of any payment which is applied to   the payment of all or any part of the Obligations (including a payment effected through exercise of   a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender   such  payment  or  proceeds  to  any  Person  because  such  payment  or application  of  proceeds  is   invalidated,  declared  fraudulent,  set  aside,  determined  to  be  void  or  voidable  as  a  preference,   impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to   any settlement entered into by the Administrative Agent or such Lender in its discretion), then the   Obligations  or  part  thereof  intended  to  be  satisfied  shall  be  revived  and  continued  and  this   Agreement shall continue in full force as if such payment or proceeds had not been received by the   Administrative  Agent  or  such  Lender.   The  provisions  of  this  Section 2.21  shall  be  and  remain   effective notwithstanding any contrary action which may have been taken by the Administrative   Agent or any Lender in reliance upon such payment or application of proceeds.  The provisions of   this Section 2.21 shall survive the termination of this Agreement.            SECTION  2.22.   Banking  Services  and  Swap  Agreements.   Each Lender or Affiliate   thereof providing Banking Services for, or having Swap Agreements with, any Loan Party or any  Subsidiary or Affiliate of a Loan Party shall deliver to the Administrative Agent promptly after the  last Business Day of each calendar month a written notice setting forth the aggregate amount of all  Banking Services Obligations and Swap Agreement Obligations of such Loan Party or Subsidiary  or  Affiliate  thereof  to  such  Lender  or  Affiliate  (whether  matured  or  unmatured,  absolute  or  contingent).  In addition, each such Lender or Affiliate thereof shall deliver to the Administrative  Agent, following the end of each calendar month (or promptly upon the Administrative Agent’s  request  therefor),  a  summary  of  the  amounts  due  or  to  become  due  in  respect  of  such  Banking  Services Obligations and Swap Agreement Obligations.  The most recent information provided to  the Administrative Agent shall be used in determining the amounts to be applied in respect of such  Banking Services Obligations and/or Swap Agreement Obligations pursuant to Section 2.18(b) and  which tier of the waterfall, contained in Section 2.18(b), such Banking Services Obligations and/or  Swap Agreement Obligations will be placed.  Notwithstanding the foregoing, solely with respect to  Commodity Swap Agreements, in addition to the ability to provide notice to the Administrative  Agent of Swap Agreement Obligations set forth above, in the event that the Administrative Agent  shall apply proceeds of Collateral received by the Administrative Agent pursuant to the waterfall  contained  in  Section  2.18(b),  any  Swap  Agreement  Obligations  under  Commodity  Swap  Agreements shall be applied pursuant to the fifth tier of the waterfall so long as the Administrative  Agent  shall  have  received  prior  written  notice  of  such  Commodity  Swap  Agreement  (and  a                                         57                                               

 

                                                                                                                                                            summary  of  the  amounts  due  thereunder)  by  such  Lender  or  Affiliate  thereof  at  least  one  (1)  Business Day prior to the application of such proceeds of Collateral by the Administrative Agent;  provided that the ability to provide the notice described in this sentence shall not apply if such  notice  is  received  on  a  date  that  is  more  than  thirty  (30)  days after the effectiveness of such  Commodity Swap Agreement.          SECTION 2.23.  Incremental Credit Extensions.                (a)   The Borrower may, at any time, on one or more occasions pursuant to an  Incremental  Facility  Amendment  (i)  add  one  or  more  new  tranches  of  term  facilities  and/or  increase the principal amount of the Loans of any existing Class by requesting new commitments  to provide such Loans (any such new tranche or increase, an “Incremental Term Facility” and any  loans made pursuant to an Incremental Term Facility, “Incremental Term Loans”) in an aggregate  outstanding principal amount not to exceed the Incremental Cap; provided that:                     (i)   no  Incremental  Commitment  in  respect  of  any  Incremental  Term        Facility may be in an amount that is less than $5,000,000 (or such lesser amount to which        the Administrative Agent may reasonably agree),                     (ii)  except  as  the  Borrower  and  any  Lender  may  separately  agree,  no        Lender shall be obligated to provide any Incremental Commitment, and the determination        to  provide  such  commitments  shall  be  within  the  sole  and  absolute  discretion  of  such        Lender,                     (iii) no Incremental Facility or Incremental Term Loan (nor the creation,        provision  or  implementation  thereof)  shall  require  the  approval  of  any  existing  Lender        other  than  in  its  capacity,  if  any,  as  a  lender  providing  all  or  part  of  any  Incremental        Commitment or Incremental Term Loan,                     (iv)  except as otherwise permitted herein, the terms of any Incremental        Term Facility (other than any terms which are applicable only after the Maturity Date of        any then-existing tranche of Loans) must be substantially consistent with those applicable        to any then-existing Loans or otherwise reasonably acceptable to the Administrative Agent,                     (v)   the Effective Yield (and the components thereof) applicable to any        Incremental  Facility  may  be  determined  by  the  Borrower  and  the lender  or  lenders        providing  such  Incremental  Facility;  provided  that,  in  the  case  of  any  Incremental  Term        Facility that is pari passu with the Initial Term Loans in right of payment and with respect        to security, the Effective Yield applicable thereto may not be more than 0.50% higher than        the Effective Yield applicable to the Initial Term Loans unless the Applicable Rate with        respect to the Initial Term Loans is adjusted to be equal to the Effective Yield with respect        to such Incremental Facility, minus 0.50%,                     (vi)  the final maturity date with respect to any Incremental Term Loans        shall  be  no  earlier  than  the  Latest  Term  Loan  Maturity  Date  at the  time  of  incurrence        thereof,                                          58                                             

 

                                                                                                                                                                              (vii) the  Weighted  Average  Life  to  Maturity  of  any  Incremental  Term        Facility shall be no shorter than the remaining Weighted Average Life to Maturity of the        then-existing Loans (without giving effect to any prepayments thereof),                     (viii) (A) any  Incremental  Term  Facility  may  rank  pari  passu  with  or        junior to any then-existing tranche of Loans in right of payment and/or security or may be        unsecured  (and  to  the  extent  the  relevant  Incremental  Facility is  pari  passu  with  or        subordinated  to  any  then-existing  tranche  of  Loans  in  right  of payment  or  security  and        documented  in  a  separate  agreement,  it  shall  be  subject  to  an  Acceptable  Intercreditor        Agreement) and (B) no Incremental Facility may be (x) guaranteed by any Person which is        not a Loan Party or (y) secured by any assets other than the Collateral,                     (ix)  (A)  any  prepayment  (other  than  any  scheduled  amortization        payment) of Incremental Term Loans that are pari passu in right of payment and security        with any then-existing Loans shall be made on a pro rata basis with such existing Loans        and (B) any prepayment (other than any scheduled amortization payment) of Incremental        Term Loans that are subordinated in right of payment or security with any existing Loans        shall  be  made  on  a  junior  basis  with  respect  to  such  existing  Loans,  except  that  the        Borrower  and  the  lenders  providing  the  relevant  Incremental  Term  Loans  shall  be        permitted,  in  their  sole  discretion,  to  elect  to  prepay  or  receive,  as  applicable,  any  such        prepayment on a less than pro rata basis (but not on a greater than pro rata basis),                     (x)   subject  to  Section  2.23(f),  no Event  of  Default  shall  exist        immediately prior to or after giving effect to the effectiveness of such Incremental Facility,                     (xi)  the  proceeds  of  any  Incremental  Facility  may  be  used  for  working        capital  and  other  general  corporate  purposes  (including  Acquisitions,  investments  and        Restricted Payments) and any other use not prohibited by this Agreement, and                     (xii) on  the  date  of  the  Borrowing  of  any  Incremental  Term  Loans  that        will  be  of  the  same  Class  as  any  then-existing  Class  of  Loans, and  notwithstanding        anything to the contrary set forth in Sections 2.08 or 2.13 above, such Incremental Term        Loans shall be added to (and constitute a part of, be of the same Type as and, at the election        of the Borrower, have the same Interest Period as) each Borrowing of outstanding Loans of        such Class on a pro rata basis (based on the relative sizes of such Borrowings), so that each        Term  Lender  providing  such  Incremental  Term  Loans  will  participate  proportionately  in        each then-outstanding Borrowing of Loans of such Class; it being acknowledged that the        application  of  this  clause  (a)(xii)  may  result  in  new  Incremental  Term  Loans  having        Interest Periods (the duration of which may be less than one month) that begin during an        Interest Period then applicable to outstanding Eurodollar Loans of the relevant Class and        which end on the last day of such Interest Period.               (b)   Incremental Commitments may be provided by any existing Lender (in its  sole discretion), or by any other Eligible Assignee (other than an Ineligible Institution) (any such  other lender being called an “Additional Lender”); provided that the Administrative Agent shall  have consented (such consent not to be unreasonably withheld) to the relevant Additional Lender’s  provision of Incremental Commitments if such consent would be required under Section 9.04(b)  for an assignment of Loans to such Additional Lender.                                        59                                             

 

                                                                                                                                                                           (c)   Each Lender or Additional Lender providing a portion of any Incremental  Commitment  shall  execute  and  deliver  to  the  Administrative  Agent  and  the  Borrower  all  such  documentation  (including  the  relevant  Incremental  Facility  Amendment)  as  may  be  reasonably  required by the Administrative Agent to evidence and effectuate such Incremental Commitment.   On the effective date of such Incremental Commitment, each Additional Lender shall become a  Lender for all purposes in connection with this Agreement.               (d)   As conditions precedent to the effectiveness of any Incremental Facility or  the making of any Incremental Term Loans, (i) upon its request, the Administrative Agent shall be  entitled  to  receive  customary  written  opinions  of  counsel,  as  well  as  such  reaffirmation  agreements, supplements and/or amendments as it shall reasonably require, (ii) the Administrative  Agent shall be entitled to receive, from each Additional Lender, an Administrative Questionnaire  and  such  other  documents  as  it  shall  reasonably  require  from  such  Additional  Lender,  (iii)  the  Administrative Agent and Lenders shall be entitled to receive all fees required to be paid in respect  of  such  Incremental  Facility  or  Incremental  Term  Loans,  (iv)  subject  to  Section  2.23(f),  the  Administrative Agent shall have received a Borrowing Request as if the relevant Incremental Term  Loans  were  subject  to Section  2.03  or  another  written  request, the  form  of  which  is  reasonably  acceptable  to  the  Administrative  Agent  and  (v)  the  Administrative  Agent  shall  be  entitled  to  receive a certificate of the Borrower signed by a Financial Officer thereof:                           (A)   certifying and attaching a copy of the resolutions adopted by              the governing body of the Borrower approving or consenting to such Incremental              Facility or Incremental Term Loans, and                           (B)   to the extent applicable, certifying that the condition set forth              in clause (a)(x) above has been satisfied.               (e)   The Lenders hereby irrevocably authorize the Administrative Agent to enter  into any Incremental Facility Amendment and/or any amendment to any other Loan Document as  may  be  necessary  in  order  to  establish  new  Classes  or  sub-Classes  in  respect  of  Loans  or  Commitments pursuant to this Section 2.23 and such technical amendments as may be necessary or  appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection  with the establishment of such new Classes or sub-Classes, in each case on terms consistent with  this Section 2.23.               (f)   Notwithstanding anything to the contrary in this Section 2.23 or any other  provision of any Loan Document, if the proceeds of any Incremental Facility are intended to be  applied to finance an acquisition or other investment and the lenders providing such Incremental  Facility  so  agree,  the  availability  thereof  shall  be  subject  to  customary  “SunGard”  or  “certain  funds”  conditionality  (it  being  understood  that  availability  of  such  Incremental  Facility  shall  nevertheless be subject to the absence of an Event of Default under clauses (a), (h) or (i) of Article  VII and customary “specified” and “acquisition agreement” representations).               (g)    This Section 2.23 shall supersede any provision in Section 2.18 or 9.02 to   the contrary.             SECTION 2.24.  Extensions of Loans.                                         60                                               

 

                                                                                                                                                                          (a)   Notwithstanding anything to the contrary in this Agreement, pursuant to one  or more offers (each, an “Extension Offer”) made from time to time by the Borrower to all Lenders  holding Loans of any Class, in each case on a pro rata basis (based on the aggregate outstanding  principal  amount  of  the  respective  Loans  of  such  Class)  and  on the  same  terms  to  each  such  Lender, the Borrower is hereby permitted to consummate transactions with any individual Lender  who accepts the terms contained in the relevant Extension Offer to extend the Maturity Date of  such Lender’s Loans of such Class and otherwise modify the terms of such Loans pursuant to the  terms of the relevant Extension Offer (including by increasing the interest rate or fees payable in  respect of such Loans (and related outstandings) and/or modifying the amortization schedule, if  any, in respect of such Loans) (each, an “Extension”, and each group of Loans, in each case as so  extended,  and  the  original  Loans  (in  each  case  not  so  extended),  being  a  “tranche”);  it  being  understood that any Extended Term Loans shall constitute a separate tranche of Loans from the  tranche of Loans from which they were converted, so long as the following terms are satisfied:                     (i)   except as to (A) interest rates, fees, amortization, final maturity date,       premiums,  required  prepayment  dates  and  participation  in  prepayments  (which  shall,       subject  to  immediately  succeeding clauses  (ii),  (iii)  and  (iv),  be  determined  by  the       Borrower  and  any  Lender  who  agrees  to  an  Extension  of  its  Loans  and  set  forth  in  the       relevant  Extension  Offer)  and  (B)  any  covenants  or  other  provisions  applicable  only  to       periods after the Latest Maturity Date (in each case, as of the date of such Extension), the       Loans of any Lender extended pursuant to any Extension (any such extended Loans, the       “Extended Term Loans”) shall have the same terms (or terms not less favorable to existing        Lenders)  as  the  tranche  of  Loans  subject  to  the  relevant  Extension  Offer;  provided,        however,  that  any  representations  and  warranties,  affirmative  and  negative  covenants        (including  financial  covenants)  and  events  of  default  applicable  to  such  tranche  of        Extended Term Loans that also expressly apply to (and for the benefit of) the tranche of        Loans subject to the Extension Offer and each other Class of Loans hereunder may be more        favorable  to  the  lenders  of  the  applicable  tranche  of  Extended Term  Loans  than  those        originally applicable to the tranche of Loans subject to the Extension Offer;                     (ii)   the  final  Maturity  Date  of  any  Extended  Term  Loans  may  be  no        earlier than the then applicable Latest Maturity Date at the time of Extension;                    (iii) the Weighted Average Life to Maturity of any Extended Term Loans       shall  be  no  shorter  than  the  remaining  Weighted  Average  Life  to  Maturity  of  any  then-      existing Loans;                    (iv)  any Extended Term Loans may participate on a pro rata basis or a       less than pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory       repayments  or  prepayments  (but,  for  purposes  of  clarity,  not  scheduled  amortization       payments) in respect of the Loans, in each case as specified in the relevant Extension Offer;                    (v)   if  the  aggregate  principal  amount  of  Loans  in  respect  of  which       Lenders  have  accepted  the  relevant  Extension  Offer  exceed  the  maximum  aggregate       principal  amount  of  Loans  offered  to  be  extended  by  the  Borrower  pursuant  to  such       Extension  Offer,  then  the  Loans  of  such  Lenders  shall  be  extended  ratably  up  to  such       maximum  amount  based  on  the  respective  principal  amounts  (but  not  to  exceed  the                                        61                                             

 

                                                                                                                                                                     applicable  Lender’s  actual  holdings  of  record)  with  respect  to which  such  Lenders  have         accepted such Extension Offer;                      (vi)  unless  the  Administrative  Agent  otherwise  agrees,  any  Extension         must be in a minimum amount of $5,000,000;                      (vii) any  applicable  Minimum  Extension  Condition  must  be  satisfied  or         waived by the Borrower; and                      (viii) any  documentation  in  respect  of  any  Extension  shall  be  consistent         with the foregoing.                (b)   (i)  No  Extension  consummated  in  reliance  on  this  Section  2.24, shall  constitute a voluntary or mandatory prepayment for purposes of Section 2.11, (ii) the scheduled  amortization payments (insofar as such schedule affects payments due to Lenders participating in  the relevant Class) set forth in Section 2.10 shall be adjusted to give effect to any Extension of any  Class  of  Loans  and/or  Commitments  and  (iii) except  as  set  forth  in  clause  (a)(vi)  above,  no  Extension Offer is required to be in any minimum amount or any minimum increment; provided   that the Borrower may, at its election, specify as a condition (a “Minimum Extension Condition”)   to  the  consummation  of  any  Extension  that  a  minimum  amount  (to be  specified  in  the  relevant   Extension Offer in the Borrower’s sole discretion) of Loans of any or all applicable tranches be   tendered;  it  being  understood  that  the  Borrower  may,  in  its  sole  discretion,  waive  any  such   Minimum Extension Condition.  The Administrative Agent and the Lenders hereby consent to the   transactions contemplated by this Section 2.24 (including, for the avoidance of doubt, the payment   of any interest, fees or premium in respect of any Extended Term Loans on such terms as may be   set forth in the relevant Extension Offer) and hereby waive the requirements of any provision of   this  Agreement  (including  Sections  2.10,  2.11  or  2.18)  or  any  other  Loan  Document  that  may  otherwise prohibit any Extension or any other transaction contemplated by this Section.               (c)   No consent of any Lender or the Administrative Agent shall be required to  effectuate any Extension, other than the consent of each Lender agreeing to such Extension with  respect to one or more of its Loans of any Class (or a portion thereof).  All Extended Term Loans  and  all  obligations  in  respect  thereof  shall  constitute  Secured  Obligations  under  this  Agreement  and the other Loan Documents that are secured by the Collateral and guaranteed on a pari passu  basis  with  all  other  applicable  Secured  Obligations  under  this Agreement  and  the  other  Loan  Documents.  The Lenders hereby irrevocably authorize the Administrative Agent to enter into any  Extension Amendment and any amendments to any of the other Loan Documents with the Loan  Parties as may be necessary in order to establish new Classes or sub-Classes in respect of Loans so  extended  and  such  technical  amendments  as  may  be  necessary  or  appropriate  in  the  reasonable  opinion  of  the  Administrative  Agent  and  the  Borrower  in  connection  with  the  establishment  of  such new Classes or sub-Classes, in each case on terms consistent with this Section 2.24.               (d)   In  connection  with  any  Extension,  the  Borrower  shall  provide  the  Administrative Agent at least five Business Days’ (or such shorter period as may be agreed by the  Administrative Agent) prior written notice thereof, and shall agree to such procedures (including  regarding  timing,  rounding  and  other  adjustments  and  to  ensure reasonable  administrative  management of the credit facilities hereunder after such Extension), if any, as may be established  by, or acceptable to, the Administrative Agent, in each case acting reasonably to accomplish the                                         62                                               

 

                                                                                                                                                               purposes of this Section 2.24.                                            ARTICLE III                                                                        Representations and Warranties           Each Loan Party represents and warrants to the Lenders that:            SECTION  3.01.   Organization;  Powers.   Each  Loan  Party  and  each  Subsidiary  is  duly   organized,  validly  existing  and  in  good  standing  under  the  laws  of  the  jurisdiction  of  its   organization, has all requisite power and authority to carry on its business as now conducted and,   except  where  the  failure  to  do  so,  individually  or  in  the  aggregate,  could  not  reasonably  be   expected to result in a Material Adverse Effect, is qualified to do business, and is in good standing,   in every jurisdiction where such qualification is required.               SECTION  3.02.   Authorization;  Enforceability.   The  Transactions  are  within  each  Loan   Party’s  organizational  powers  and  have  been  duly  authorized  by all  necessary  organizational   actions and, if required, actions by equity holders.  Each Loan Document to which each Loan Party   is a party has been duly executed and delivered by such Loan Party and constitutes a legal, valid   and  binding  obligation of  such  Loan  Party, enforceable  in accordance with  its  terms,  subject to   applicable  bankruptcy, insolvency, reorganization,  moratorium  or  other  laws  affecting  creditors’   rights generally and subject to general principles of equity, regardless of whether considered in a   proceeding in equity or at law.            SECTION  3.03.   Governmental  Approvals;  No  Conflicts.   The  Transactions  (a)  do  not   require  any  consent  or  approval  of,  registration  or  filing  with,  or  any  other  action  by,  any   Governmental  Authority,  except  such  as  have  been  obtained  or  made  and  are  in  full  force  and  effect and except for filings necessary to perfect Liens created pursuant to the Loan Documents,  (b) will not violate any Requirement of Law applicable to any Loan Party or any Subsidiary, (c)  will not violate or result in a default under any indenture, agreement or other instrument binding  upon any Loan Party or any Subsidiary or the assets of any Loan Party or any Subsidiary, or give  rise to a right thereunder to require any payment to be made by any Loan Party or any Subsidiary,  and (d) will not result in the creation or imposition of any Lien on any asset of any Loan Party or  any Subsidiary, except Liens created pursuant to the Loan Documents.          SECTION 3.04.  Financial Condition; No Material Adverse Change.   (a)  Holdings has   heretofore  furnished  to  the  Lenders  its  consolidated  balance  sheet  and  statements  of  income,   stockholders  equity  and  cash  flows  (i)  as  of  and  for  the  fiscal  year  ended  December  31,  2015,   reported on by PricewaterhouseCoopers LLP, independent public accountants, and (ii) as of and   for  the  fiscal  quarter  and  the  portion  of  the  fiscal  year  ended  March  31,  2016,  certified  by  its   Financial Officer.  Such financial statements present fairly, in all material respects, the financial   position and results of operations and cash flows of Holdings and its consolidated Subsidiaries as   of  such  dates  and  for  such  periods in  accordance  with  GAAP,  subject to normal year-end audit   adjustments  (all  of  which,  when  taken  as  a  whole,  would  not  be materially  adverse)  and  the   absence of footnotes in the case of the statements referred to in clause (ii) above.                                            63                                               

 

                                                                                                                                                                    (b)    No  event,  change  or  condition  has occurred  that  has  had,  or  could  reasonably  be   expected to have, a Material Adverse Effect, since December 31, 2015.           SECTION 3.05.  Properties.  (a)  As of the date of this Agreement, Schedule 3.05 sets forth   the address of each parcel of real property that is owned or leased by any Loan Party.  Each of such  leases and subleases is valid and enforceable in accordance with its terms and is in full force and  effect, and no default by any party to any such lease or sublease exists.  Each of the Loan Parties  and each of its Subsidiaries has good and indefeasible title to, or valid leasehold interests in, all of  its real and material personal property, free of all Liens other than those permitted by Section 6.02.             (b)   Each Loan Party and each Subsidiary owns, or is licensed to use, all trademarks,  tradenames,  copyrights,  patents  and  other  intellectual  property  necessary  to  its  business  as  currently conducted, a correct and complete list of which, as of the date of this Agreement, is set  forth  on  Schedule  3.05,  and  the  use  thereof  by  each  Loan  Party and  each  Subsidiary  does  not   infringe in any material respect upon the rights of any other Person, and each Loan Party’s and   each Subsidiary’s rights thereto are not subject to any licensing agreement or similar arrangement.            SECTION 3.06.  Litigation and Environmental Matters.  (a) There are no actions, suits or   proceedings  by  or  before  any  arbitrator  or  Governmental  Authority  pending  against  or,  to  the   knowledge of any Loan Party, threatened against or affecting any Loan Party or any Subsidiary   (i) as to which there is a reasonable possibility of an adverse determination and that, if adversely   determined, could reasonably be expected, individually or in the aggregate, to result in a Material   Adverse Effect (other than the Disclosed Matters) or (ii) that involve any Loan Document or the   Transactions.            (b)   Except for the Disclosed Matters, and except with respect to any other matters that,   individually or in the aggregate, could not reasonably be expected to result in a Material Adverse   Effect, (i) no Loan Party or any Subsidiary has received notice of any claim with respect to any   Environmental Liability or knows of any basis for any Environmental Liability and (ii), no Loan   Party  or  any  Subsidiary  (A) has failed  to  comply  with  any  Environmental Law or to obtain,   maintain or comply with any permit, license or other approval required under any Environmental   Law, (B) has become subject to any Environmental Liability, (C) has received notice of any claim   with  respect  to  any  Environmental  Liability  or  (D)  knows  of  any  basis  for  any  Environmental   Liability.            (c)    Since  the  date  of  this  Agreement,  there  has  been  no  change  in  the  status  of  the   Disclosed Matters that, individually or in the aggregate, has resulted in, or materially increased the   likelihood of, a Material Adverse Effect.            SECTION 3.07.  Compliance with Laws and Agreements.  Except where the failure to do   so,  individually  or  in  the  aggregate,  could  not  reasonably  be  expected  to  result  in  a  Material   Adverse Effect, each Loan Party and each Subsidiary is in compliance with (i) all Requirement of   Law  applicable  to  it  or  its  property  and  (ii)  all  indentures,  agreements  and  other  instruments  binding upon it or its property.                                               64                                               

 

                                                                                                                                                                    SECTION  3.08.   Investment  Company  Status.   No  Loan  Party  or  any  Subsidiary  is  an   “investment company” as defined in, or subject to regulation under, the Investment Company Act   of 1940.           SECTION 3.09.  Taxes.  Each Loan Party and each Subsidiary has timely filed or caused to   be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all   Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by   appropriate proceedings and for which such Loan Party or such Subsidiary, as applicable, has set   aside  on  its  books  adequate  reserves  or  (b)  to  the  extent  that the  failure  to  do  so  could  not  be   expected to result in a Material Adverse Effect.  No tax liens have been filed and no claims are   being asserted with respect to any such Taxes, other than those set forth in clause (a) of Permitted   Encumbrances.            SECTION  3.10.   ERISA.   No  ERISA  Event  has  occurred  or  is  reasonably  expected  to   occur that, when taken together with all other such ERISA Events for which liability is reasonably   expected  to  occur,  could  reasonably  be  expected  to  result  in  a Material  Adverse  Effect.   The   present value of all accumulated benefit obligations under each  Plan  (based  on  the  assumptions   used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date   of the most recent financial statements reflecting such amounts, exceed the fair market value of the   assets of such Plan such that it could reasonably be expected to result in a Material Adverse Effect.            SECTION  3.11.   Disclosure.   The  Loan  Parties  have  disclosed  to the Lenders all   agreements,  instruments  and  corporate  or  other  restrictions  to which  any  Loan  Party  or  any   Subsidiary is subject, and all other matters known to it, that, individually or in the aggregate, could   reasonably  be  expected  to  result  in  a  Material  Adverse  Effect.   Neither  the  Information   Memorandum nor any of the other reports, financial statements, certificates or other information   furnished by or on behalf of any Loan Party or any Subsidiary to the Administrative Agent or any   Lender  in  connection  with  the  negotiation  of  this  Agreement  or any  other  Loan  Document  (as   modified or supplemented by other information so furnished) contains any material misstatement   of fact or omits to state any material fact necessary to make the statements therein, in the light of   the  circumstances  under  which  they  were  made,  not  misleading;  provided  that,  with  respect  to   projected financial information, the Loan Parties represent only that such information was prepared  in good faith based upon assumptions believed to be reasonable at the time delivered and, if such  projected financial information was delivered prior to the Effective Date, as of the Effective Date.                 SECTION 3.12.  Material Contracts.  No Loan Party or any Subsidiary is in breach or in   default of or under any Material Contract and has not received any notice of the intention of any   other party thereto to terminate any Material Contract, in each case, where such breach, default or   termination could be reasonably likely to result in a Material Adverse Effect.            SECTION 3.13.  Solvency.  (a)  Immediately after the consummation of the Transactions to   occur on the Effective Date, (i) the fair value of the assets of each Loan Party, at a fair valuation,   will  exceed  its  debts  and  liabilities,  subordinated,  contingent or otherwise; (ii) the present fair   saleable  value  of  the  property  of  each  Loan  Party  will  be  greater  than  the  amount  that  will  be   required to pay the probable liability of its debts and other liabilities, subordinated, contingent or   otherwise, as such debts and other liabilities become absolute and matured; (iii) each Loan Party   will be able to pay its debts and liabilities, subordinated, contingent or otherwise, as such debts and                                         65                                               

 

                                                                                                                                                            liabilities  become  absolute  and  matured;  and  (iv)  no  Loan  Party  will  have  unreasonably  small  capital  with  which  to  conduct  the  business  in  which  it  is  engaged  as  such  business  is  now  conducted and is proposed to be conducted after the Effective Date.          (b)   No  Loan  Party  intends  to,  nor  will  permit  any  Subsidiary  to,  and  no  Loan  Party  believes  that  it  or  any  Subsidiary  will,  incur  debts  beyond  its  ability  to  pay  such  debts  as  they  mature, taking into account the timing of and amounts of cash to be received by it or any such  Subsidiary and the timing of the amounts of cash to be payable on or in respect of its Indebtedness  or the Indebtedness of any such Subsidiary.                  SECTION  3.14.   Insurance.   Schedule 3.14  sets  forth  a  description  of  all  insurance  maintained by or on behalf of the Loan Parties and their Subsidiaries as of the Effective Date.  As  of the Effective Date, all premiums in respect of such insurance have been paid.  The Loan Parties  maintain,  and  have  caused  each  Subsidiary  to  maintain,  with  financially  sound  and  reputable  insurance companies, insurance on all their real and personal property in such amounts, subject to  such  deductibles  and  self-insurance  retentions  and  covering  such  properties  and  risks  as  are  adequate  and  customarily  maintained  by  companies  engaged  in  the  same  or  similar  businesses  operating in the same or similar locations.                  SECTION 3.15.  Capitalization and Subsidiaries.  As of the Effective Date, Schedule 3.15  sets forth (a) a correct and complete list of the name and relationship  to  Holdings  of  each  Subsidiary,  noting  whether  such  Subsidiary  is  a  Material  Domestic  Subsidiary,  (b)  the  type  of  entity  of  Holdings  and  each  Subsidiary  and  (c)  as  of  the  date  hereof,  any  joint  venture  or  partnership interests held by Holdings or its Subsidiaries.  All of the issued and outstanding Equity  Interests owned by any Loan Party have been (to the extent such concepts are relevant with respect  to  such  ownership  interests)  duly  authorized  and  issued  and  are  fully  paid  and  non-assessable.   There  are  no  outstanding  commitments  or  other  obligations  of  any  Loan  Party  to  issue,  and  no  options, warrants or other rights of any Person to acquire, any shares of any class of capital stock  or other equity interests of any Loan Party.         SECTION 3.16. Security Interest in Collateral.  The provisions of this Agreement and the  other  Loan  Documents  create  legal  and  valid  Liens  on  all  of  the  Collateral  in  favor  of  the  Administrative Agent, for the benefit of the Secured Parties, and such Liens constitute perfected  and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the  applicable  Loan  Party  and  all  third  parties,  and  having  priority  over  all  other  Liens  on  the  Collateral  except  in  the  case  of  (a)  Permitted  Encumbrances,  to  the  extent  any  such  Permitted  Encumbrances would have priority over the Liens in favor of the Administrative Agent pursuant to  any applicable law or agreement, and (b) Liens perfected only by possession (including possession  of  any  certificate  of  title),  to  the  extent  the  Administrative Agent  has  not  obtained  or  does  not  maintain possession of such Collateral.          SECTION  3.17.  Employment  Matters.   As  of  the  Effective  Date,  there  are  no  strikes,  lockouts or slowdowns against any Loan Party or any Subsidiary pending or, to the knowledge of  any Loan Party, threatened that could be reasonably likely to result in a Material Adverse Effect.   The hours worked by and payments made to employees of the Loan Parties and their Subsidiaries  have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state,                                         66                                             

 

                                                                                                                                                            local or foreign law dealing with such matters except where such violation could not be reasonably  likely to result in a Material Adverse Effect.            SECTION 3.18.  Federal Reserve Regulations.  No part of the proceeds of any Loan has  been used or will be used, whether directly or indirectly, for any purpose that entails a violation of  any of the Regulations of the Board, including Regulations T, U and X.                 SECTION 3.19.  Use of Proceeds.  The proceeds of the Loans have been used and will be  used, whether directly or indirectly as set forth in Section 5.08.                     SECTION  3.20.  No  Burdensome  Restrictions.   No  Loan  Party  is  subject  to  any  Burdensome Restrictions except Burdensome Restrictions permitted under Section 6.10.                SECTION 3.21.  Anti-Corruption Laws and Sanctions.  Each Loan Party has implemented  and maintains in effect policies and procedures designed to ensure compliance by such Loan Party,  its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption  Laws and applicable Sanctions, and such Loan Party, its Subsidiaries and their respective officers  and  directors  and,  to  the  knowledge  of  such  Loan  Party,  its  employees  and  agents,  are  in  compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.  None of  (a) any Loan Party, any Subsidiary or, to the knowledge of any such Loan Party or Subsidiary, any  of their respective directors, officers or employees, or (b) to the knowledge of any such Loan Party  or  Subsidiary,  any  agent  of  such  Loan  Party  or  any  Subsidiary  that  will  act  in  any  capacity  in  connection with or benefit from the credit facility established hereby, is a Sanctioned Person.  No  Borrowing, use of proceeds, Transaction or other transaction contemplated by this Agreement or  the other Loan Documents will violate Anti-Corruption Laws or applicable Sanctions.                SECTION  3.22.   EEA  Financial  Institutions.   No  Loan  Party  is  an  EEA  Financial  Institution.                 SECTION  3.23.  Status  as  Senior  Debt.  The  Loans  and  other  Obligations  of  the  Loan  Parties constitute senior Indebtedness of the Loan Parties ranking at least pari passu in right of  payment with all other Indebtedness of the Loan Parties.                SECTION  3.24.  No  Default.  No  Default  or  Event  of  Default  has  occurred  and  is  continuing.                SECTION  3.25.  Business  of  Holdings.   Except  as  expressly  permitted  by  Section  6.13,  Holdings has not (i) engaged in any business or business activities or owned any property or asset  other  than  (x)  ownership  of  100%  of  the  Equity  Interests  of  the Borrower, (y) activities and  contractual rights incidental to maintenance of its corporate existence and (z) performance of its  obligations under the Loan Documents and ABL Loan Documents to which it is a party, and (ii)  sold,  pledged  or  otherwise  transferred  any  the  Equity  Interests  of  the  Borrower  to  any  Person  (other than to the Administrative Agent as Collateral or, subject in all respects to the Intercreditor  Agreement,  the  ABL  Administrative  Agent  to  secure  the  obligations  under  the  ABL  Loan  Documents).                                                                             ARTICLE IV                                        67                                             

 

                                                                                                                                                                                                                                        Conditions         SECTION 4.01.  Effective Date.  The obligations of the Lenders to make Loans hereunder  shall not become effective until the date on which each of the following conditions is satisfied (or  waived in accordance with Section 9.02):                (a)  Credit Agreement and Other Loan Documents.  The Administrative Agent (or        its counsel) shall have received (i) from each party hereto either (A) a counterpart of this        Agreement  signed  on  behalf  of  such  party  or  (B)  written  evidence  satisfactory  to  the        Administrative Agent (which may include facsimile or other electronic transmission of a        signed signature page of this Agreement) that such party has signed a counterpart of this        Agreement, (ii) either (A) a counterpart of each other Loan Document (including, without        limitation,  the  Intercreditor  Agreement)  signed  on  behalf  of  each party thereto or (B)        written evidence satisfactory to the Administrative Agent (which may include facsimile or        other electronic transmission of a signed signature page thereof) that each such party has        signed a counterpart of such Loan Document and (iii) such other certificates, documents,        instruments  and  agreements  as  the  Administrative  Agent  shall  reasonably  request  in        connection  with  the  transactions  contemplated  by  this  Agreement  and  the  other  Loan        Documents, including any promissory notes requested by a Lender pursuant to Section 2.10        payable  to  such  requesting  Lender  and  a  written  opinion  of  the Loan  Parties’  counsel,        addressed to the Administrative Agent and the Lenders in substantially the form of Exhibit        B, all in form and substance satisfactory to the Administrative Agent and its counsel.                 (b) Financial  Statements  and  Projections.   The  Lenders  shall  have received (i)        audited consolidated financial statements of Holdings for the 2014 and 2015 fiscal years,        (ii) unaudited interim consolidated financial statements of Holdings for each fiscal quarter        ended  after  the  date  of  the  latest  applicable  financial  statements  delivered  pursuant  to        clause (i) of this paragraph as to which such financial statements are available, and such        financial  statements  shall  not,  in  the  reasonable  judgment  of  the  Administrative  Agent,        reflect any material adverse change in the consolidated financial condition of Holdings, as        reflected  in  the  audited,  consolidated  financial  statements  described  in  clause  (i)  of  this        paragraph and (iii) satisfactory projections for the five-year period beginning with the fiscal        year ending December 31, 2016 and ending with the fiscal year ending December 31, 2021;        provided,  that  the  Borrower  shall  be  deemed  to  have  delivered  the  foregoing  to  the        Administrative Agent and the Lenders if prior to the Effective Date, such information has        been  filed  with  the  SEC  and  is  available  on  the  EDGAR  site  at  www.sec.gov  or  any        successor government site that is freely and readily available to the Administrative Agent        and the Lenders without charge.                            (c)  Closing  Certificates;  Certified  Certificate  of  Incorporation;  Good  Standing        Certificates.  The Administrative Agent shall have received (i) a certificate of each Loan        Party, dated the Effective Date and executed by its Secretary or Assistant Secretary, which        shall (A) certify the resolutions of its board of directors, members or other body authorizing        the execution, delivery and performance of the Loan Documents to which it is a party, (B)        identify  by  name  and  title  and  bear  the  signatures  of  the  officers  of  such  Loan  Party        authorized  to  sign  the  Loan  Documents  to  which  it  is  a  party  and,  in  the  case  of  the                                        68                                             

 

                                                                                                                                                   Borrower  and  Holdings,  its  Financial  Officers,  and  (C)  contain appropriate  attachments,   including  the  certificate  or  articles  of  incorporation  or  organization  of  each  Loan  Party   certified by the relevant authority of the jurisdiction of organization of such Loan Party and   a true and correct copy of its by-laws or operating, management or partnership agreement,   or  other  organizational  or  governing  documents,  and  (ii)  a  good  standing  certificate  for  each Loan Party from its jurisdiction of organization or the substantive equivalent available  in the jurisdiction of organization for each Loan Party from the appropriate governmental  officer in such jurisdiction.                 (d) No  Default  Certificate.   The  Administrative  Agent  shall  have  received  a   certificate, signed by a Financial Officer of Holdings and each other Loan Party, dated as of  the Effective Date (i) stating that no Default has occurred and is continuing, (ii) stating that  the representations and warranties contained in the Loan Documents are true and correct as   of  such  date,  and  (iii)  certifying  as  to  any  other  factual  matters  as  may  be  reasonably   requested by the Administrative Agent.                        (e)  Fees.   The  Lenders,  the  Joint  Lead  Arrangers  and  the  Administrative  Agent   shall have received all fees required to be paid, and all expenses for which invoices have   been presented (including the reasonable fees and expenses of legal counsel), on or before   the Effective Date.  All such amounts will be paid with proceeds of Loans made on the   Effective Date and will be reflected in the funding instructions given by the Borrower to   the Administrative Agent on or before the Effective Date.                  (f)  Lien Searches.  The Administrative Agent shall have received the results of a   recent lien search in each jurisdiction where the Loan Parties are organized and where the   assets of the Loan Parties are located, and such search shall reveal no Liens on any of the   assets of the Loan Parties except for Liens permitted by Section 6.02 or discharged on or   prior to the Effective Date pursuant to a pay-off letter or other documentation satisfactory   to the Administrative Agent.                  (g) Pay-Off  Letter;  Effective  Date  Debt  Repayments.   The  Administrative  Agent   shall  have  received  (x)  fully-executed  customary  payoff  letters  related  to  each  Effective   Date Debt Repayment reasonably satisfactory to it and (y) reasonably satisfactory evidence   of arrangement for the concurrent termination of all Liens securing the obligations under   existing  credit  facilities  to  be  repaid  in  connection  with  each  Effective  Date  Debt   Repayment.  After the application of the proceeds of the loans made on the Effective Date   under  the  ABL  Credit  Agreement  and  any  Loans  made  under  the  Agreement  on  the   Effective  Date,  the  Effective  Date  Debt  Repayments  shall  have  been  completed  in  a   manner reasonably satisfactory to the Administrative Agent.                       (h)   ABL Credit Agreement.  The Loan Parties shall have entered into the ABL   Credit Agreement, and such ABL Credit Agreement shall be in full force and effect, upon   terms and conditions reasonably satisfactory to the Administrative Agent                  (i)  Funding  Account.   The  Administrative  Agent  shall  have  received  a  notice   setting forth the deposit account of the Borrower at an institution reasonably satisfactory to   the Administrative Agent (the “Funding Account”) to which the Administrative Agent is                                   69                                                     

 

                                                                                                                                                   authorized  by  the  Borrower  to  transfer  the  proceeds  of  any  Borrowings  requested  or   authorized pursuant to this Agreement.                        (j)  [Reserved].                  (k) [Reserved].                    (l)  Solvency.  The Administrative Agent shall have received a solvency certificate   signed by a Financial Officer dated the Effective Date.                  (m) [Reserved].                  (n)  [Reserved].                        (o) Pledged  Equity  Interests;  Stock  Powers;  Pledged  Notes.   The  Administrative   Agent shall have received originals of (i) the certificates representing the Equity Interests   pledged pursuant to the Security Agreement, together with an undated stock power for each  such certificate executed in blank by a duly authorized officer of the pledgor thereof and  (ii)  each  promissory  note  (if  any)  pledged  to  the  Administrative  Agent  pursuant  to  the  Security Agreement endorsed (without recourse) in blank (or accompanied by an executed  transfer form in blank) by the pledgor thereof.                (p) Filings, Registrations and Recordings.  Each document (including any Uniform   Commercial Code financing statement) required by the Collateral Documents or under law   or reasonably requested by the Administrative Agent to be filed, registered or recorded in   order to create in favor of the Administrative Agent, for the benefit of itself, the Lenders   and the other Secured Parties, a perfected Lien on the Collateral described therein, prior   and  superior  in  right  to  any  other  Person  (other  than  with  respect  to  Liens  expressly   permitted  by  Section  6.02),  shall  be  in  proper  form  for  filing,  registration  and/or   recordation.                  (q) Approvals. All governmental and third party approvals necessary in connection   with the financing contemplated hereby and the continuing operations of Holdings and its   Subsidiaries  (including  shareholder  approvals,  if  any)  shall  have  been  obtained  on   satisfactory terms and shall be in full force and effect.                  (r)  Insurance.  The Administrative Agent shall have received evidence of insurance   coverage in form, scope, and substance reasonably satisfactory to the Administrative Agent   and  otherwise  in  compliance  with  the  terms  of  Section 5.10  hereof  and  the  other  Loan   Documents.                  (s)  [Reserved].             (t)   Tax  Withholding.   The  Administrative  Agent  shall  have  received  a  properly   completed and signed IRS Form W-8 or W-9, as applicable, for each Loan Party.            (u)    Corporate  Structure.   The  corporate  structure,  capital structure  and  other                                   70                                                     

 

                                                                                                                                                                  material debt instruments, material accounts and governing documents of Holdings and its        Affiliates shall be acceptable to the Administrative Agent in its sole discretion.                     (v)    [Reserved].                      (w)   Legal Due Diligence.  The  Administrative  Agent  and  its  counsel  shall  have        completed  all  legal  due  diligence,  the  results  of  which  shall  be  satisfactory  to        Administrative Agent in its sole discretion.                     (x)  [Reserved].                (y)  USA PATRIOT Act, Etc.  The Administrative Agent and the Lenders  shall        have  received  all  documentation  and  other  information  required by  bank  regulatory        authorities  under  applicable  “know  your  customer”  and  anti-money  laundering  rules  and        regulations, including the USA PATRIOT Act, for each Loan Party.                (z)  Other  Documents.   The  Administrative  Agent  shall  have  received  such  other        documents as the Administrative Agent, any Lender or their respective counsel may have        reasonably requested.    The Administrative Agent shall notify the Borrower, the Lenders of the Effective Date, and such  notice  shall  be  conclusive  and  binding.   Notwithstanding  the  foregoing,  the  obligations  of  the  Lenders  to  make  Loans  hereunder  shall  not  become  effective  unless  each  of  the  foregoing  conditions is satisfied (or waived pursuant to Section 9.02) at or prior to 2:00 p.m., Chicago time,  on  July  18,  2016  (and,  in  the  event  such  conditions  are  not  so satisfied  or  waived,  the  Commitments shall terminate at such time).         SECTION 4.02.  Each Credit Event.  The obligation of each Lender to make a Loan on the  occasion of any Borrowing, is subject to the satisfaction of the following conditions:                (a)   The  representations  and  warranties  of  the  Loan  Parties  set  forth  in  the  Loan        Documents shall be true and correct in all material respects with the same effect as though        made  on  and  as  of  the  date  of  such  Borrowing,  as  applicable  (it  being  understood  and        agreed that any representation or warranty which by its terms is made as of a specified date        shall be required to be true and correct in all material respects only as of such specified        date, and that any representation or warranty which is subject to any materiality qualifier        shall be required to be true and correct in all respects).                 (b)  At  the  time  of  and  immediately  after  giving  effect  to  such  Borrowing  no        Default shall have occurred and be continuing.      Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on  the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.                                      ARTICLE V                                                                         Affirmative Covenants                                        71                                             

 

                                                                                                                                                                          Until the Commitments shall have expired or been terminated and the principal of  and interest on each Loan and all fees payable hereunder shall have been paid in full, each Loan  Party executing this Agreement covenants and agrees, jointly and severally with all of the other  Loan Parties, with the Lenders that:                            SECTION 5.01.  Financial Statements and Other Information.  The Borrower will  furnish or caused to be furnished to the Administrative Agent and each Lender:               (a)    within  ninety  (90) days  after  the  end  of  each  fiscal  year  of  Holdings,  its        audited  consolidated  balance  sheet  and  related  statements  of  operations,  stockholders’        equity  and  cash  flows  as  of  the  end  of  and  for  such  year,  setting  forth  in  each  case  in        comparative form the figures for the previous fiscal year, all reported on by independent        public  accountants  of  recognized  national  standing  (without  a  “going  concern”  or  like        qualification (other than any such qualification with respect to the Obligations being treated        as short-term indebtedness resulting solely from the Maturity Date occurring one year from        the time such opinion is delivered), commentary or exception and without any qualification        or  exception  as  to  the  scope  of  such  audit)  to  the  effect  that such consolidated  financial        statements  present  fairly  in  all  material  respects  the  financial  condition  and  results  of        operations  of  Holdings  and  its  consolidated  Subsidiaries  on  a  consolidated  basis  in        accordance with GAAP consistently applied, provided, that the Borrower shall be deemed        to  have  delivered  the  foregoing  to  the  Administrative  Agent  and  the  Lenders  if  such        information  has  been  filed  with  the  SEC  and  is  available  on  the  EDGAR  site  at        www.sec.gov or any successor government site that is freely and readily available to the        Administrative Agent and the Lenders without charge, or has been made freely and readily       available to the Administrative Agent and the Lenders without charge on Holdings’ website        www.gbcholdings.com, and the delivery date therefor shall be deemed to be the first day on        which such information is available to the Administrative Agent and the Lenders on one of        such web pages;                (b)    within  forty-five  (45) days after  the  end  of  each  of  the first  three  fiscal        quarters  of  each  fiscal  year  of  Holdings,  its  consolidated  balance sheet and related        statements of operations, stockholders’ equity and cash flows as of the end of and for such        fiscal quarter and the then elapsed portion of such fiscal year, setting forth in each case in       comparative form the figures for the corresponding period or periods of (or, in the case of       the  balance  sheet,  as  of  the  end  of)  the  previous  fiscal  year, all  certified  by  a  Financial       Officer  as  presenting  fairly  in  all  material  respects  the  financial  condition  and  results  of       operations  of  Holdings  and  its  consolidated  Subsidiaries  on  a  consolidated  basis  in       accordance with GAAP consistently applied, subject to normal year-end audit adjustments       and  the  absence  of  footnotes;  provided,  that  the  Borrower  shall  be  deemed  to  have        delivered the foregoing to the Administrative Agent and the Lenders if such information        has been filed with the SEC and is available on the EDGAR site at www.sec.gov or any        successor government site that is freely and readily available to the Administrative Agent        and  the  Lenders  without  charge,  or  has  been  made  freely  and  readily  available  to  the        Administrative  Agent  and  the  Lenders  without  charge  on  Holdings’  website        www.gbcholdings.com, and the delivery date therefor shall be deemed to be the first day on        which such information is available to the Administrative Agent and the Lenders on one of                                        72                                             

 

                                                                                                                                                   such web pages;                         (c)   promptly  following  delivery  thereof,  a  copy  of  each  Borrowing  Base  Certificate  (as  defined  in  the  ABL  Credit  Agreement)  that  is  furnished  to  the  ABL  Administrative Agent pursuant to the ABL Credit Agreement; provided that the Borrower   shall  be  required  to  furnish  or  cause  to  be  furnished  a  copy  of  such  Borrowing  Base   Certificate solely to the Administrative Agent;                        (d)   no  later  than  seven  (7)  Business  Days  after  any  delivery  of  financial   statements under clause (a) or (b) above, a certificate of a Financial Officer in substantially   the form of Exhibit D  (i) certifying, in the case of the financial statements delivered under   clause (b), as presenting fairly in all material respects the financial condition and results of   operations  of  Holdings  and  its  consolidated  Subsidiaries  on  a  consolidated  basis  in   accordance with GAAP, subject to normal year-end audit adjustments and the absence of  footnotes,  (ii)  certifying  as  to whether  a  Default  has  occurred  and,  if  a  Default  has  occurred, specifying the details thereof and any action taken or proposed to be taken with  respect thereto, (iii) setting forth reasonably detailed calculations of the Total Net Leverage   Ratio, (iv) stating whether any change in GAAP or in the application thereof has occurred   since the date of the audited financial statements referred to in Section 3.04 and, if any such   change  has  occurred,  specifying  the  effect  of  such  change  on  the  financial  statements   accompanying  such  certificate,  and  (v)  certifying  if  any  Subsidiaries have, as of the   delivery of the last the last certificate under this clause (d), qualified independently as, or  are being designated by the Borrower to become, Material Domestic Subsidiaries;                        (e)   concurrently  with  any  delivery  of  financial  statements  under  clause   (a) above,  a  certificate  of  the  accounting  firm  that  reported  on  such  financial  statements   stating  whether they  obtained knowledge  during  the  course  of  their  examination  of  such   financial statements of any Default (which certificate may be limited to the extent required   by accounting rules or guidelines);                        (f)   as soon as available but in any event no later than sixty (60) days after the   end of each fiscal year of Holdings, a copy of the plan and forecast (including a projected   consolidated and consolidating balance sheet, income statement and cash flow statement)   of  Holdings  for  each  month  of  the  upcoming  fiscal  year  (the  “Projections”)  in  form   reasonably satisfactory to the Administrative Agent;                        (g)   promptly  after  any  request  therefor  by  the  Administrative Agent  or  any   Lender,  copies  of  (i)  any  documents  described  in  Section  101(k)(1)  of  ERISA  that  the  Borrower or any ERISA Affiliate may request with respect to any Multiemployer Plan and  (ii) any notices described in Section 101(l)(1) of ERISA that the Borrower or any ERISA  Affiliate  may  request  with  respect  to  any  Multiemployer  Plan;  provided  that  if  the  Borrower or any ERISA Affiliate has not requested such documents or notices from the  administrator  or  sponsor  of  the applicable  Multiemployer  Plan, the  Borrower  or  the  applicable ERISA Affiliate shall promptly make a request for such documents and notices  from such administrator or sponsor and shall provide copies of such documents and notices  promptly after receipt thereof; and                                                   73                                                     

 

                                                                                                                                                                           (h)   promptly following any request therefor, such other information regarding         the  operations,  material  changes  in  ownership  of  Equity  Interests,  business  affairs  and         financial condition of any Loan Party or any Subsidiary, or compliance with the terms of         this Agreement, as the Administrative Agent or any Lender may reasonably request.                  The Borrower represents and warrants that it, its controlling Person and any Subsidiary, in each   case, if any, either (i) has no registered or publicly traded securities outstanding, or (ii) files its   financial  statements  with  the  SEC  and/or  makes  its  financial  statements  available  to  potential   holders  of  its  144A  securities,  and,  accordingly,  the  Loan  Parties  hereby  (i)  authorize  the   Administrative Agent to make the financial statements to be provided under Section 5.01(a) and   (b) above, along with the Loan Documents, available to Public-Siders and (ii) agrees that at the   time such financial statements are provided hereunder, they shall already have been made available   to holders of its securities.  The Borrower will not request that  any  other  material be  posted  to   Public-Siders  without  expressly representing  and  warranting  to the  Administrative  Agent  in   writing that such materials do not constitute material non-public information within the meaning of  the federal securities laws or that none of the Borrower, its controlling Person or any Subsidiary, in   each  case,  if  any,  has  any  outstanding  publicly  traded  securities,  including  144A  securities.   Notwithstanding anything herein to the contrary, in no event shall the Borrower request that the   Administrative  Agent  make  available  to  Public-Siders  budgets,  projections  or  any  certificates,   reports  or  calculations  with  respect  to  the  Borrower’s  compliance  with  the  covenants  contained   herein.            SECTION  5.02.   Notices  of  Material  Events.   Each  of  the  Borrower  and  Holdings  will   furnish to the Administrative Agent for delivery to each Lender prompt (but in any event within   any time period that may be specified below) written notice of the following:            (a)   the occurrence of any Event of Default;                       (b)    receipt  of  any  notice  of  any  investigation  by  a  Governmental  Authority  or  any   litigation or proceeding commenced or threatened against any Loan Party or any Subsidiary that (i)   seeks  damages  in  excess  of  $10,000,000,  (ii)  seeks  injunctive  relief  which  is  reasonably  like to   result in a Material Adverse Effect, (iii) is asserted or instituted against any Plan, its fiduciaries or   its  assets  which  is  reasonably  like  to  result  in  a  Material  Adverse  Effect,  (iv)  alleges  criminal   misconduct by any Loan Party or any Subsidiary,  (v) asserts liability on the part of any Loan Party   or  any  Subsidiary  in  excess  of  $10,000,000  in  respect  of  any  Tax,  fee,  assessment,  or  other   governmental charge, or (vi) involves any product recall which is reasonably likely to result in a   reduction to Consolidated Adjusted EBITDA in excess of $10,000,000;            (c)   any Lien (other than Permitted Encumbrances) or claim made or asserted against   any of the Collateral in excess of $5,000,000;           (d)    any loss, damage, or destruction to the Collateral in the amount of $10,000,000 or   more, whether or not covered by insurance;            (e)   within two (2) Business Days of receipt thereof, any and all default notices received   under  or  with  respect  to  any  leased  location  or  public  warehouse  where  Collateral  in  excess  of   $5,000,000 is located;                                          74                                               

 

                                                                                                                                                                        (f)   any filing with the SEC that pertains to any Material Contract;            (g)   within five (5) Business Days after the occurrence thereof, any Loan Party entering   into  a  Swap  Agreement  (other  than  a  Commodity  Swap  Agreement)  or  an  amendment  thereto,   together with copies of all agreements evidencing such Swap Agreement (other than a Commodity   Swap Agreement) or amendment;            (h)   the occurrence of any ERISA Event that, alone or together with any other ERISA   Events that have occurred, could reasonably be expected to result in liability of the Loan Parties   and their Subsidiaries in an aggregate amount exceeding $10,000,000;            (i)    any other development that results, or could reasonably be expected to result, in a   Material Adverse Effect; and           (j)    any  amendment  or  modification  to  the  ABL  Credit  Agreement (together  with  an   executed  copy  of  such  amendment  or  modification)  within  five  (5)  Business  Days  after  the   effectiveness thereof.      Each  notice  delivered  under  this  Section  shall  be  accompanied  by  a  statement  of  a  Financial   Officer  or  other  executive  officer  of  the  Borrower  setting  forth  the  details  of  the  event  or   development  requiring  such  notice  and  any  action  taken  or  proposed  to  be  taken  with  respect  thereto.           SECTION 5.03.  Existence; Conduct of Business.  Each Loan Party will, and will cause   each Subsidiary to, (a) do or cause to be done all things necessary to preserve, renew and keep in   full force and effect its legal existence and the rights, qualifications, licenses, permits, franchises,   governmental  authorizations,  intellectual  property  rights,  licenses  and  permits  material  to  the   conduct  of  its  business,  and  maintain  all  requisite  authority  to  conduct  its  business  in  each  jurisdiction in which its business is conducted, provided that the foregoing shall not prohibit any   merger, consolidation, liquidation or dissolution permitted under Section 6.03, and (b) carry on and   conduct  its  business  in  substantially  the  same  manner  and  in  substantially  the  same  fields  of   enterprise as it is presently conducted.            SECTION 5.04.  [Reserved].              SECTION 5.05.  Maintenance of Properties.  Each Loan Party will, and will cause each   Subsidiary  to,  keep  and  maintain  all  property  material  to  the  conduct  of  its  business  in  good   working order and condition, ordinary wear and tear excepted.            SECTION 5.06.  Books and Records; Inspection Rights.  Each Loan Party will, and will   cause each Subsidiary to, (a) keep proper books of record and accounts in a manner which is in   compliance with the most recent SEC guidelines and regulations with respect to its business and   activities  and  (b)  permit  any  representatives  designated  by  the  Administrative  Agent  (including   employees  of  the  Administrative  Agent,  any  Lender  or  any  consultants,  accountants,  lawyers,   agents and appraisers retained by the Administrative Agent), upon reasonable prior notice, to visit   and inspect its properties, to conduct inspections of such Loan Party’s assets, liabilities, books and                                         75                                               

 

                                                                                                                                                               records, including examining and making extracts from its books and records, and to discuss its   affairs, finances and condition with its officers and independent accountants, all at such reasonable   times  and  as  often  as  reasonably  requested.    The  Administrative  Agent  shall  have  the  right  to  conduct and the Loan Parties shall be responsible for the costs of expenses of one (1) inspection   during any 12-month period.  Additionally, there shall be no limitation on the number or frequency   of inspections if an Event of Default has occurred and is continuing, and the Loan Parties shall be   responsible for the costs and expenses of any inspections conducted while an Event of Default has   occurred  and  is  continuing.   After  the  occurrence  and  during  the  continuance  of  any  Event  of   Default, each Loan Party shall provide the Administrative Agent with access to its suppliers.  Each   Loan Party acknowledges that the Administrative Agent, after exercising its rights of inspection,   may prepare and distribute to the Lenders certain reports pertaining to each Loan Party’s assets for   internal use by the Administrative Agent and the Lenders.           SECTION  5.07.   Compliance  with  Laws.   Each  Loan  Party  will,  and  will  cause  each   Subsidiary  to  comply  with  each  Requirement  of  Law  applicable  to  it  or  its  property  (including   without limitation Environmental Laws), except where the failure to do so, individually or in the   aggregate, could not reasonably be expected to result in a Material Adverse Effect.  Each Loan   Party will maintain in effect and enforce policies and procedures designed to ensure compliance by   such  Loan  Party,  its  Subsidiaries  and  their  respective  directors, officers, employees and agents   with Anti-Corruption Laws and applicable Sanctions.             SECTION 5.08.  Use of Proceeds.                    (a)   The  proceeds  of  the  Initial  Term  Loans  shall  be  used  to  repay  in  full  the         Senior  Secured  Notes  on  the  Effective  Date  and  to  finance  a  portion  of  the  other         Transactions.  No  part  of  the  proceeds  of  any  Loan  will  be  used, whether directly or         indirectly for any purpose that entails a violation of any of the Regulations of the Board,         including Regulations T, U and X.                                (b)   The Borrower will not request any Borrowing, and the Borrower shall not         use, and shall procure that its Subsidiaries and its and their respective directors, officers,         employees and agents shall not use, the proceeds of any Borrowing (a) in furtherance of an         offer,  payment,  promise  to  pay, or  authorization  of  the  payment  or  giving  of  money,  or         anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for the         purpose  of  funding,  financing  or  facilitating  any  activities,  business  or  transaction  of  or         with  any  Sanctioned  Person,  or  in  any  Sanctioned  Country,  to  the  extent  that  such         activities,  businesses  or  transaction  would  be  prohibited  by  Sanctions  if  conducted  by  a         corporation incorporated in the United States or the European Union, or (c) in any manner         that would result in the violation of any Sanctions applicable to any party hereto.              SECTION  5.09.   Accuracy  of  Information.     The  Loan  Parties  will  ensure  that  any   information,  including  financial  statements  or  other  documents,  furnished  to  the  Administrative   Agent  or  the  Lenders  in  connection  with  this  Agreement  or  any  other  Loan  Document  or  any   amendment  or  modification  hereof  or  thereof  or  waiver  hereunder  or  thereunder  contains  no   material misstatement of fact or omits to state any material fact necessary to make the statements   therein, in the light of the circumstances under which they were made, not materially misleading,   and the furnishing of such information shall be deemed to be a representation and warranty by the                                         76                                               

 

                                                                                                                                                               Borrower on the date thereof as to the matters specified in this Section 5.09; provided that, with   respect to projected financial information, the Loan Parties will only ensure that such information   was prepared in good faith based upon assumptions believed to be reasonable at the time.                  SECTION  5.10.   Insurance.  Each  Loan  Party  will,  and  will  cause each  Loan  Party  to,   maintain  with  financially  sound  and  reputable  carriers  customarily  utilized  by  companies  with   similar financial capacity and engaged in similar businesses and owning similar properties as the   Borrower and the other Loan Parties (a) insurance in such amounts (with no greater risk retention)   and against such risks (including, without limitation: loss or damage by fire and loss in transit;   theft,  burglary,  pilferage,  larceny,  embezzlement,  and  other  criminal  activities;  business   interruption;  and  general  liability)  and  such  other  hazards,  as  is  customarily  maintained  by   companies of established repute engaged in the same or similar businesses operating in the same or   similar  locations  and  (b)  all  insurance  required  pursuant  to  the  Collateral  Documents.   The   Borrower will furnish to the Lenders, upon request of the Administrative Agent, information in   reasonable detail as to the insurance so maintained.           SECTION  5.11.   Casualty  and  Condemnation.   The  Borrower  will  (a)  furnish  to  the   Administrative  Agent  and  the  Lenders  prompt  written  notice  of  any  casualty  or  other  insured   damage  in  excess  of  $5,000,000  to  any  Collateral  or  the  commencement  of  any  action  or   proceeding for the taking of any Collateral in excess of $5,000,000 or interest therein under power   of eminent domain or by condemnation or similar proceeding and (b) ensure that the Net Proceeds   of any such event (whether in the form of insurance proceeds, condemnation awards or otherwise)   are collected and applied in accordance with the applicable provisions of this Agreement and the   Collateral Documents.            SECTION 5.12.  [Reserved].              SECTION  5.13.  Maintenance  of  Ratings.   Holdings  and  the  Borrower  shall  use   commercially reasonable efforts to maintain (i) a credit rating for the Indebtedness evidenced by  this Agreement from each of S&P and Moody’s, (ii) a public corporate credit rating from S&P of  Holdings and (iii) a public corporate family rating from Moody’s of Holdings; provided that in no   event shall Holdings or the Borrower be required to maintain any specific rating with any such   agency.                 SECTION 5.14.  Additional Collateral; Further Assurances.                   (a)   Subject  to  applicable  Requirement  of  Law,  each  Loan  Party  will  cause  each   Subsidiary that is (i) formed, (ii) acquired or (iii) that qualifies independently as, or is designated   by the Borrower or the Administrative Agent as a Material Domestic Subsidiary pursuant to the   definition  of  “Material  Domestic  Subsidiary”,  in  each  case  after  the  date  of  this  Agreement  to   become  a  Loan  Party  by  executing  a  Joinder  Agreement.  Upon  execution  and  delivery  thereof,   each such Person (i) shall automatically become a Loan Guarantor hereunder and thereupon shall   have all of the rights, benefits, duties, and obligations in such capacity under the Loan Documents   and (ii) will grant Liens to the Administrative Agent, for the benefit of the Administrative Agent   and the other Secured Parties, in any property of such Loan Party which constitutes Collateral.                                                   77                                               

 

                                                                                                                                                                           (b)   Each  Loan  Party  will  cause  (i)  100%  of  the  issued  and  outstanding  Equity   Interests of each of its Domestic Subsidiaries (except any Excluded Domestic Subsidiary) and (ii)   65% of the issued and outstanding Equity Interests entitled to vote (within the meaning of Treas.   Reg. Section 1.956-2(c)(2)) and 100% of the issued and outstanding Equity Interests not entitled to  vote  (within  the  meaning  of  Treas.  Reg.  Section  1.956-2(c)(2)) in  each  Domestic  Subsidiary   Holding Company and in each Foreign Subsidiary directly owned by any Loan Party (except any   such Foreign Subsidiary owned by a Domestic Subsidiary Holding Company) to be subject at all   times to a first priority, perfected Lien in favor of the Administrative Agent, for the benefit of the   Administrative Agent and the other Secured Parties, pursuant to the terms and conditions of the   Loan  Documents  or  other  security  documents  as  the  Administrative  Agent  shall  reasonably   request. Each Domestic Subsidiary Holding Company that is a Loan Party will cause 100% of the   issued and outstanding Equity Interests of each of its Domestic Subsidiaries (except any Excluded   Domestic Subsidiary) to be subject at all times to a first priority, perfected Lien in favor of the   Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties,   pursuant to the terms and conditions of the Loan Documents or other security documents as the   Administrative Agent shall reasonably request.                (c)   Without  limiting  the  foregoing,  each  Loan  Party  will,  and  will  cause  each   Subsidiary to, execute and deliver, or cause to be executed and delivered, to the Administrative   Agent such documents, agreements and instruments, and will take or cause to be taken such further   actions  (including  the  filing  and  recording  of  financing  statements,  fixture  filings,  and  other   documents and such other actions or deliveries of the type required by Section 4.01, as applicable),   which may be required by any Requirement of Law or which the Administrative Agent may, from   time to time, reasonably request to carry out the terms and conditions of this Agreement and the   other Loan Documents and to ensure perfection and priority of the Liens created or intended to be   created  by  the  Collateral  Documents,  all  in  form  and  substance reasonably  satisfactory  to  the   Administrative Agent and all at the expense of the Loan Parties.                 (d)   If  any  assets  (excluding  any  real  property  or  improvements  thereto  or  any   interest  therein)  are  acquired  by  any  Loan  Party  after  the  Effective  Date  (other  than  assets   constituting  Collateral  under  the Security  Agreement  that  become  subject  to  the  Lien  under  the   Security  Agreement  upon  acquisition  thereof),  the  Borrower  will  (i)  notify  the  Administrative   Agent  and  the  Lenders  thereof,  and,  if  requested  by  the  Administrative  Agent  or  the  Required   Lenders, cause such assets (other than with respect to any real property or improvements thereto or   any interest therein) to be subjected to a Lien securing the Secured Obligations and (ii)  take, and   cause each applicable Loan Party to take, such actions (other than with respect to any real property   or improvements thereto or any interest therein) as shall be necessary or reasonably requested by   the Administrative Agent to grant and perfect such Liens, including actions described in clause (c)   of this Section, all at the expense of the Loan Parties.             SECTION 5.15.  Post-Closing Matters. Notwithstanding anything to the contrary set forth   herein or in any other Loan Document, to the extent not delivered on the Effective Date:                  (a) within one hundred and twenty (120) days of the Effective Date (as such period may be   extended by the Administrative Agent in its sole discretion), the Loan Parties shall deliver or cause   to be delivered to the Administrative Agent (x) each Collateral Access Agreement required to be   provided  pursuant  to  Section  4.13  of  the  Security  Agreement  and  (y)  evidence  reasonably   satisfactory  to  the  Administrative  Agent  of  the  termination  of all  existing  collateral  access                                         78                                               

 

                                                                                                                                                               agreements entered into in connection with any prior Indebtedness that was repaid on or prior to   the Effective Date;                   (b) within ninety (90) days of the Effective Date (as such period may be extended by the   Administrative Agent in its sole discretion), the Loan Parties shall deliver or cause to be delivered   to the Administrative Agent each Deposit Account Control Agreement (as defined in the Security   Agreement) required to be provided pursuant to Sections 4.14 and 7.1 of the Security Agreement;                (c)  within forty-five (45) days of the Effective Date (as such period may be extended by  the  Administrative  Agent  in  its  sole  discretion),  the  Loan  Parties  shall  deliver  or  cause  to  be  delivered  to  the  Administrative  Agent  each  insurance  endorsement  and  any  other  certificates,  instruments,  documents  or  other  agreements  with  respect  to  the Loan  Parties  insurance  policies  required to be provided pursuant to Section 4.12 of the Security Agreement; and                (d)  within five (5) Business Days of the Effective Date (as such period may be extended by  the  Administrative  Agent  in  its  sole  discretion),  the  Loan  Parties  shall  deliver  or  cause  to  be  delivered  to  the  Administrative  Agent  evidence  of  the  termination  and  release  (and,  where  applicable,  evidence  of  the  filings  of  such  termination  and  release)  of  all  mortgages,  leasehold  mortgages, deeds of trust and any other similar document or agreement encumbering any of the  leasehold real property or real property owned in fee by any Loan Party, in each case in a form and  manner reasonably satisfactory to the Administrative Agent.                                       ARTICLE VI                                                                            Negative Covenants           Until  the  Commitments  shall  have  expired  or  been  terminated  and  the  principal  of  and   interest on each Loan and all fees, expenses and other amounts payable under any Loan Document   shall  have  been  paid  in  full,  each  Loan  Party  executing  this  Agreement  covenants  and  agrees,   jointly and severally with all of the other Loan Parties, with the Lenders that:            SECTION 6.01.  Indebtedness.  No Loan Party will, nor will it permit any Subsidiary to,   create, incur, assume or suffer to exist any Indebtedness, except:            (a)   the Secured Obligations (including Indebtedness created pursuant to Section 2.23,   Section 2.24 and Section 9.02(f));           (b)    Indebtedness  existing  on  the  date  hereof  and  set  forth  in Schedule 6.01  and  any   extensions, renewals, refinancings and replacements of any such Indebtedness in accordance with   clause (f) hereof;            (c)   Indebtedness  of  the  Borrower  to  any  Subsidiary  and  of  any  Subsidiary  to  the   Borrower or any other Subsidiary, provided that (i) Indebtedness of any Subsidiary that is not a   Loan  Party  to  the  Borrower  or  any  other  Loan  Party  shall  be  subject  to  Section 6.04  and  (ii)   Indebtedness of any Loan Party to any Subsidiary that is not a Loan Party shall be subordinated to   the Secured Obligations on terms reasonably satisfactory to the Administrative Agent;                                            79                                               

 

                                                                                                                                                                  (d)   Guarantees  by  the  Borrower  of  Indebtedness  of  any  Subsidiary  and  by  any  Subsidiary  of  Indebtedness  of  the  Borrower  or  any  other  Subsidiary,  provided  that  (i)  the  Indebtedness so Guaranteed is permitted by this Section 6.01, (ii) Guarantees by the Borrower or  any other Loan Party of Indebtedness of any Subsidiary that is not a Loan Party shall be subject to  Section 6.04  and  (iii)  Guarantees  permitted  under  this  clause (d)  shall  be  subordinated  to  the  Secured Obligations on the same terms as the Indebtedness so Guaranteed is subordinated to the  Secured Obligations;         (e)   Indebtedness  of  the  Borrower  or  any  Subsidiary  incurred  to  finance  the  acquisition,  construction or improvement of any fixed or capital assets (whether or not constituting purchase  money  Indebtedness),  including  Capital  Lease  Obligations  and  any  Indebtedness  assumed  in  connection with the acquisition of any such assets or secured by a Lien on any such assets prior to  the  acquisition  thereof,  and  extensions,  renewals  and  replacements  of  any  such  Indebtedness  in  accordance with clause (f) below; provided that (i) such Indebtedness is incurred prior to or within  90 days after such acquisition or the completion of such construction or improvement and (ii) the  aggregate  principal  amount  of  Indebtedness  permitted  by  this  clause  (e)  together  with  any  Refinance  Indebtedness  in  respect  thereof  permitted  by  clause  (f)  below,  shall  not  exceed  $50,000,000 at any time outstanding;         (f)  Indebtedness which represents extensions, renewals, refinancing or replacements (such  Indebtedness being so extended, renewed, refinanced or replaced being referred to herein as the  “Refinance Indebtedness”) of any of the Indebtedness described in clauses (a), (b), (e), (i), (j), (k),  (n),  (o),  (q)  or  (s)  hereof  (such  Indebtedness  being  referred  to  herein  as  the  “Original  Indebtedness”);  provided  that  (i)  such  Refinance  Indebtedness  does  not  increase  the  principal  amount  or  interest  rate  of  the  Original  Indebtedness,  (ii)  any Liens  securing  such  Refinance  Indebtedness are not extended to any additional property of any Loan Party or any Subsidiary, (iii)  no Loan Party or any Subsidiary that is not originally obligated with respect to repayment of such  Original  Indebtedness  is  required  to  become  obligated  with  respect  to  such  Refinance  Indebtedness,  (iv)  such  Refinance  Indebtedness  does  not  result in  a  shortening  of  the  average  weighted  maturity  of  such  Original  Indebtedness,  (v)  the  terms of  such  Refinance  Indebtedness  other than fees and interests are not less favorable to the obligor thereunder than the original terms  of  such  Original  Indebtedness,  (vi)  if  such  Original  Indebtedness  was  subordinated  in  right  of  payment to the Secured Obligations, then the terms and conditions of such Refinance Indebtedness  must include subordination terms and conditions that are at least as favorable to the Administrative  Agent and the Lenders as those that were applicable to such Original Indebtedness; and (vii) in the  case of Refinance Indebtedness incurred in respect of Indebtedness permitted under clause (a) of  this Section 6.01, such Indebtedness shall comply with the provisions set forth in Section 9.02(f);            (g)   Indebtedness  owed  to  (i)  any  Person  providing  workers’  compensation,  health,  disability  or  other  employee  benefits  or  property,  casualty  or liability  insurance,  pursuant  to  reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary  course of business and (ii) any participant in a self-insured health and welfare plan maintained by  any Loan Party or Subsidiary, as a result of claims for benefits;                (h)   Indebtedness of any Loan Party in respect of performance bonds, bid bonds, appeal  bonds,  surety  bonds  and  similar  obligations,  in  each  case  provided  in  the  ordinary  course  of  business;                                        80                                             

 

                                                                                                                                                                    (i)    Subordinated  Indebtedness  in  an  aggregate  principal  amount  not  exceeding  $50,000,000 at any time outstanding;         (j)    Indebtedness  of  any  Person  that  becomes  a  Subsidiary  after the date hereof;  provided that (i) such Indebtedness exists at the time such Person becomes a Subsidiary and is not  created in contemplation of or in connection with such Person becoming a Subsidiary and (ii) the  aggregate  principal  amount  of  Indebtedness  permitted  by  this  clause  (j),  together  with  any  Refinance  Indebtedness  in  respect  thereof  permitted  by  clause  (f)  above,  shall  not  exceed  $50,000,000 at any time outstanding;           (k)   unsecured Indebtedness consisting of seller debt or notes, bona fide purchase price  adjustments,  indemnifications,  earnouts  or  other  similar  obligations  in  connection  with  any  Acquisition or disposition of a line of business or Subsidiary permitted hereunder;          (l)   Swap Agreements permitted in accordance with Section 6.07;         (m)    Indebtedness  in  connection  with  overdraft  protection  arrangements  with  financial  institutions in respect of disbursement accounts of Borrower or its Subsidiaries maintained in the  ordinary course of business, so long as the aggregate principal amount thereof does not at any time  exceed $15,000,000;          (n)   Indebtedness  of  Foreign  Subsidiaries  and  other  Subsidiaries that are not Material  Domestic Subsidiaries owed to a Person that is not an Affiliate with any Loan Party, so long as the  aggregate  principal  amount  thereof  does  not  at  any  time  exceed the  dollar  equivalent  of  $25,000,000; provided, that no Loan Party may Guarantee or have any other obligation under such  Indebtedness;         (o)    Indebtedness under the ABL Credit Agreement outstanding on the Effective Date  after  giving  effect  to  the  Transactions,  together  with  any  extension,  renewal,  increase  or  “Replacement  ABL  Credit  Agreement”  (as  defined  in  the  Intercreditor  Agreement)  thereof  not  prohibited  by  the  Intercreditor  Agreement  not  to  exceed  an  amount equal to the greater of (x)  $400,000,000  and  (y)  the  sum  of  85%  of  Eligible  Accounts  (as  defined  in  the  ABL  Credit  Agreement  or  any  equivalent  provision  under  any  Replacement  ABL  Credit  Agreement)  of  the  Loan Parties plus the product of up to 85% multiplied by the Net Orderly Liquidation Value (as  defined in the ABL Credit Agreement or any equivalent provision under any Replacement ABL  Credit  Agreement)  percentage  identified  in  the  most  recent  Inventory  appraisal  ordered  by  the  ABL Agent multiplied by the Value (as defined in the ABL Credit Agreement or any equivalent  provision under any Replacement ABL Credit Agreement) of the Loan Parties' Eligible Inventory  (as  defined  in  the  ABL  Credit  Agreement  or  any  equivalent  provision  under  any  Replacement  ABL Credit Agreement);          (p)   Indebtedness  of  Holdings  and  its  Subsidiaries  consisting  of  the  financing  of  insurance premiums in the ordinary course of business;          (q)    Indebtedness under any Permitted Factoring Facility; provided, that the aggregate  principal amount of Indebtedness outstanding under all such Permitted Factoring Facilities shall                                        81                                             

 

                                                                                                                                                               not exceed $2,000,000 at any time;            (r)  other Indebtedness in an aggregate principal amount not exceeding $25,000,000 at   any time outstanding;            (s)   Incremental Equivalent Debt; and           (t)    additional  Indebtedness  of  the  Borrower  and/or  any  Subsidiary  so  long  as,  after   giving,  pro  forma  effect  thereto,  including  the  application  of the  proceeds  thereof  (but  without   “netting” cash proceeds of the applicable Indebtedness), (i) (A) if such Indebtedness is secured by   a  Lien  on  the  Term  Loan  Priority  Collateral  that  is  pari  passu with  the  Lien  on  the  Collateral   securing  the  Secured  Obligations,  the  Net  Senior  Secured  Leverage  Ratio  does  not  exceed   2.50:1.00, (B) if such Indebtedness is (1) secured by a Lien on the Term Loan Priority Collateral   that is junior to the Lien on the Collateral securing the Secured Obligations, (2) secured by a Lien   on the ABL Priority Collateral that is pari passu or junior to the Lien on the Collateral securing the   Secured  Obligations  or  (3)  is  unsecured,  the  Fixed  Charge  Coverage  Ratio  is  not  less  than   2.00:1.00, (ii) any such Indebtedness that is subordinated to the Obligations in right of payment   shall  be  subject  to  an  Acceptable  Intercreditor  Agreement,  (iii)  the  Weighted  Average  Life  to   Maturity applicable to such Indebtedness (other than customary bridge loans with a maturity date  of no longer than one year; provided that any Indebtedness exchanged for such bridge loans shall  be subject to the requirements of this clause (iii)) is no shorter than the Weighted Average Life to  Maturity of the then-existing Loans, (iv) the final maturity date with respect to such Indebtedness  (other than customary bridge loans with a maturity date of no longer than one year; provided that  any  Indebtedness  exchanged  for  such  bridge  loans  shall  be  subject  to  the  requirements  of  this  clause (iv)) is no earlier than the Latest Term Loan Maturity Date on the date of the issuance or  incurrence, as  applicable,  thereof,  (v)  in  the  case  of  any  such  Indebtedness  in  the  form  of  term  loans (other than customary bridge loans) that are pari passu with the Initial Term Loans in right of  payment and with respect to security, the Effective Yield applicable thereto will not be more than  0.50% per annum higher than the Effective Yield in respect of the Initial Term Loans unless the  Effective Yield with respect to the Initial Term Loans is adjusted to be equal to the Effective Yield  applicable  to  such  Indebtedness,  minus  0.50%  per  annum  and  (vi)  in  each  case,  no  Default  or   Event  of  Default  has  occurred  and  is  continuing  or  would  result  from  the  incurrence  of  such   Indebtedness.             SECTION 6.02.  Liens.  No Loan Party will, nor will it permit any Subsidiary to, create,   incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired   by it, or assign or sell any income or revenues (including Accounts) or rights in respect of any   thereof, except:                  (a)   Liens created pursuant to any Loan Document;                         (b)   Permitted Encumbrances;                 (c)    any Lien on any property or asset of Holdings or any Subsidiary existing on         the date hereof and set forth in Schedule 6.02; provided that (i) such Lien shall not apply to         any other property or asset of Holdings or any Subsidiary and (ii) such Lien shall secure         only those obligations which it secures on the date hereof, and extensions, renewals and                                         82                                               

 

                                                                                                                                                   replacements thereof that do not increase the outstanding principal amount thereof;                       (d)   Liens  on  fixed  or  capital  assets  acquired,  constructed  or  improved  by  the   Borrower or any Subsidiary; provided that (i) such Liens secure Indebtedness permitted by   clause (e) of Section 6.01, (ii) such Liens and the Indebtedness secured thereby are incurred   prior to or within 90 days after such acquisition or the completion of such construction or   improvement,  and  (iii) such  Liens  shall  not  apply  to  any  other property  or  assets  of  the   Borrower or any Subsidiary;                        (e)   any  Lien  existing  on  any  property  or  asset  (other  than  Accounts  and   Inventory) prior to the acquisition thereof by the Borrower or any Subsidiary or existing on   any property or asset (other than Accounts and Inventory) of any Person that becomes a   Loan  Party  after  the  date  hereof  prior  to  the  time  such  Person becomes  a  Loan  Party;   provided that (i) such Lien is not created in contemplation of or in connection with such   acquisition or such Person becoming a Loan Party, as the case may be, (ii) such Lien shall   not apply to any other property or assets of the Loan Party and (iii) such Lien shall secure   only  those  obligations  which  it  secures  on  the  date  of  such  acquisition  or  the  date  such   Person  becomes  a  Loan  Party,  as  the  case  may  be,  and  extensions,  renewals  and   replacements thereof that do not increase the outstanding principal amount thereof;                 (f)  Liens  of  a  collecting  bank  arising  in  the  ordinary  course  of  business  under  Section 4-208  of  the  UCC  in  effect  in  the  relevant  jurisdiction  covering  only  the  items  being collected upon;                (g)   Liens  arising  out  of  Sale  and  Leaseback  Transactions  permitted  by  Section 6.06;                 (h)  Liens granted by a Subsidiary that is not a Loan Party in favor of the Borrower  or another Loan Party in respect of Indebtedness owed by such Subsidiary;                       (i)    License Agreements entered into by any Loan Party or their Subsidiaries as  of the date hereof as in effect on the date hereof and licenses with respect to Intellectual  Property (including amendments and other modifications to existing License Agreements)  to the extent permitted under Section 6.05(i);                (j)    Liens solely on any cash earnest money deposits and cash advances made by  a  Loan  Party  or  any  of  its  Subsidiaries  in  connection  with  any letter  of  intent  of  an  acquisition or purchase agreement permitted hereunder;                (k)    Liens arising from (i) precautionary UCC financing statements, including in  respect of any operating lease or disposition permitted by this Agreement and (ii) Equipment  or other assets not owned by any Loan Party or Subsidiary located on the premises of such  Loan Party or Subsidiary (but not in connection with, or as part of, the financing thereof)  from time to time in the ordinary course of business and consistent with current practices of  such Loan Party or Subsidiary and the precautionary UCC financing statement filings in  respect thereof;                                           83                                                     

 

                                                                                                                                                                        (l)   Liens  arising  solely  by  virtue  of  any  statutory  or  common  law  provision        relating to banker’s Liens, rights of setoff or similar rights and remedies, in each case as to        deposit accounts or other funds maintained with a creditor depositary institution;                            (m)  Liens  securing  Indebtedness  permitted  by  Section  6.01(o)  so  long  as  any        Liens  on  the  Term  Loan  Priority  Collateral  shall  be  (i)  subordinate  to  the  Liens  on  the        Collateral securing the Secured Obligations and (ii) subject to the Intercreditor Agreement;                             (n)   Liens  securing  Indebtedness  of  Foreign  Subsidiaries  permitted  under        Section 6.01(n), which Liens are granted solely upon assets of Foreign Subsidiaries;                             (o)   any interest or title of a lessor under any lease entered into by the Borrower        or any of its Subsidiaries in the ordinary course of its business and covering only the assets        so leased;                             (p)   leases and subleases (including ground leases in respect of real property on        which facilities owned or leased by a Loan Party or its Subsidiaries are located) granted to        others in the ordinary course of business which do not materially interfere with the ordinary        conduct of the business of a Loan Party or any of its Subsidiaries, taken as a whole, and do        not secure any Indebtedness;                            (q)   Liens arising out of conditional sale, title retention, consignment or similar        arrangements for the sale of goods entered into in the ordinary course of business;                            (r)   any encumbrance or restriction with respect to the Equity Interests of any        joint  venture  or  similar  arrangement  created  pursuant  to  the  joint  venture  or  similar        agreements with respect to such joint venture or similar arrangement;                             (s)   Liens on the Collateral securing Swap Obligations;                              (t)  Liens  securing  Indebtedness  permitted  by  Section  6.01(f), (r),  (s)  and  (t);        provided that notwithstanding anything to the contrary set forth herein, Liens on the ABL        Priority Collateral securing Indebtedness shall only be permitted pursuant to (i) Sections        6.02(m),  (o)  and  (u)  and  (ii)  with  respect  to  Liens  securing  Indebtedness  permitted  by        Sections 6.01(a), (s) and (t);                             (u)   Liens  securing  Indebtedness  under  any  Permitted  Factoring  Facility;        provided such Liens shall not apply to any other property or assets of the Loan Parties or        their  Subsidiaries  other  than  the  Accounts  sold,  transferred  or  pledged  pursuant  to  the        applicable Permitted Factoring Facility; and                            (v)   other  Liens  securing  obligations  (other  than  Indebtedness  of  the  type        described  in  clauses  (a)  or  (g) of  the  definition  thereof)  in  an  aggregate  amount  not  to        exceed $5,000,000 at any time outstanding.          SECTION  6.03.   Fundamental  Changes.   (a)  No  Loan  Party  will,  nor  will  it  permit  any  Subsidiary  to,  merge  into  or  consolidate  with  any  other  Person,  or  permit  any  other  Person  to                                        84                                             

 

                                                                                                                                                            merge into or consolidate with it, or liquidate or dissolve, except that, if at the time thereof and  immediately after giving effect thereto no Event of Default shall have occurred and be continuing  (i) any Person may merge into the Borrower in a transaction in which the surviving entity is the  Borrower,  (ii) any  Person  (other  than  the  Borrower)  may  merge  into  any  Subsidiary  in  a  transaction in which the surviving entity is a Subsidiary and, if any party to such merger is a Loan  Party,  such  surviving  entity  is  a  Subsidiary  or  becomes  a  Subsidiary  that  is  a  Loan  Party  concurrently with such merger and (iii) any  Subsidiary that is not a Loan Party may liquidate or  dissolve if the Borrower determines in good faith that such liquidation or dissolution is in the best  interests of the Borrower and is not materially disadvantageous to the Lenders; provided that any  such merger involving a Person that is not a wholly owned Subsidiary immediately prior to such  merger shall not be permitted unless also permitted by Section 6.04.         (b)    No Loan Party will, nor will it permit any Subsidiary to, engage  in  any  business  other than businesses of the type conducted by Holdings and its Subsidiaries on the date hereof and  businesses reasonably related thereto.           (c)   Holdings will not engage in any business or activity other than the ownership of all  the outstanding Equity Interests of the Borrower and activities incidental thereto.  Holdings will  not own or acquire any assets (other than Equity Interests of the Borrower and the cash proceeds of  any Restricted Payments permitted by Section 6.08) or incur any liabilities (other than liabilities  under the Loan Documents and liabilities reasonably incurred in connection with its maintenance  of its existence).         (d)    No Loan Party will, nor will it permit any Subsidiary to, change its fiscal year from  the basis in effect on the Effective Date.          (e)   No Loan Party will change the accounting basis upon which its financial statements  are prepared such that such Loan Party is no longer in compliance with the Securities Exchange  Act of 1934 and the rules of the SEC thereunder as in effect on the date hereof.         (f)   Neither  Holdings  nor  the  Borrower  will  operate  as  anything  other  than  a  “C  corporation” as defined by the IRS for income tax filing purposes.         SECTION 6.04.  Investments, Loans, Advances, Guarantees and Acquisitions.  No Loan  Party will, nor will it permit any Subsidiary to, form any subsidiary after the Effective Date, or  purchase, hold or acquire (including pursuant to any merger with any Person that was not a Loan  Party  and  a  wholly  owned  Subsidiary  prior  to  such  merger)  any  evidences  of  Indebtedness  or  Equity Interests or other securities (including any option, warrant or other right to acquire any of  the foregoing) of, make or permit to exist any loans or advances to, Guarantee any obligations of,  or make or permit to exist any investment or any other interest in, any other Person, or purchase or  otherwise acquire (in one transaction or a series of transactions) any assets of any other Person  constituting a business unit (whether through purchase of assets, merger or otherwise), except:                (a)   Permitted Investments;               (b)    investments in existence on the date hereof and described in Schedule 6.04;                                          85                                             

 

                                                                                                                                                         (c)   investments  by  Holdings  in  the  Borrower  and  by  the  Borrower  and  the   Subsidiaries in Equity Interests in their respective Subsidiaries, provided that (A) any such   Equity Interests held by a Loan Party shall be pledged pursuant to the Security Agreement   (subject to the limitations applicable to Equity Interests of a Foreign Subsidiary referred to   in  Section  5.14)  and  (B) the  aggregate  amount  of  investments  by  Loan  Parties  in   Subsidiaries  that  are  not  Loan  Parties  (together  with  outstanding  intercompany  loans   permitted  under  clause (B)  to  the  proviso  to  Section 6.04(d)  and  outstanding  Guarantees   permitted under the proviso to Section 6.04(e)) shall not exceed $25,000,000 at any time   outstanding (in each case determined without regard to any write-downs or write-offs);           (d)    loans or advances made by any Loan Party to any Subsidiary and made by   any Subsidiary to a Loan Party or any other Subsidiary, provided that (A) any such loans   and  advances  made  by  a  Loan  Party  shall  be  evidenced  by  a  promissory  note  pledged   pursuant to the Security Agreement and (B) the amount of such loans and advances made   by  Loan  Parties  to  Subsidiaries  that  are  not  Loan  Parties  (together  with  outstanding  investments permitted under clause (B) to the proviso to Section 6.04(c) and outstanding  Guarantees permitted under the proviso to Section 6.04(e)) shall not exceed $25,000,000 at  any time outstanding (in each case determined without regard to any write-downs or write- offs);          (e)   Guarantees  constituting  Indebtedness  permitted  by  Section 6.01,  provided  that the  aggregate  principal  amount  of  Indebtedness  of  Subsidiaries  that  are  not  Loan  Parties  that  is  Guaranteed  by  any  Loan  Party  (together  with  outstanding  investments  permitted under clause (B) to the proviso to Section 6.04(c) and outstanding intercompany  loans  permitted  under  clause (B)  to  the  proviso  to  Section 6.04(d))  shall  not  exceed  $25,000,000 at any time outstanding (in each case determined without regard to any write- downs or write-offs);          (f)    loans or advances made by a Loan Party to its employees on an arms-length  basis  in  the  ordinary  course  of  business  consistent  with  past  practices  for  travel  and  entertainment  expenses,  relocation  costs  and  similar  purposes  up to a maximum of  $2,500,000 in the aggregate at any one time outstanding;           (g)    notes payable, or stock or other securities issued by Account Debtors to a   Loan Party pursuant to negotiated agreements with respect to settlement of such Account   Debtor’s Accounts in the ordinary course of business, consistent with past practices;          (h)    investments in the form of Swap Agreements permitted by Section 6.07;           (i)   investments  of  any  Person  existing  at  the  time  such  Person  becomes  a  Subsidiary  of  the  Borrower  or  consolidates  or  merges  with  the  Borrower  or  any  of  the  Subsidiaries  (including  in  connection  with  a  Permitted  Acquisition)  so  long  as  such  investments were not made in contemplation of such Person becoming a Subsidiary or of  such merger;           (j)   investments received in connection with the disposition of assets permitted  by Section 6.05;                                    86                                                     

 

                                                                                                                                                                                    (k)   investments  constituting  deposits  described  in  clauses (c)  and  (d)  of  the        definition of the term “Permitted Encumbrances”;                       (l)    investments consisting of extension of trade credit in the ordinary course of        business, consistent with past practices;                      (m)    Permitted Acquisitions;                      (n)    investments  consisting  of  Equity  Interests  received  by  a  Loan  Party  as        consideration in connection with the bankruptcy of an unaffiliated Person or any settlement        with any such Person effected in accordance with the terms hereof; provided, that, in the        case  of  any  of  the  foregoing,  such  Equity  Interests  shall  be  promptly  pledged  to  the        Administrative Agent in accordance with Section 5.14;                      (o)    investments  in  the  form  of  loans  or  capital  contributions to  Olin  Luotong        Metals (GZ) Co., Ltd., a Chinese limited liability company, in an aggregate amount not to        exceed $1,200,000 less the amount of any such investments existing as of the date hereof;        provided, that, no Loan Party shall make any such loan or capital contribution unless no         Default or Event of Default shall exist or have occurred and be continuing as of the date of         such loan or capital contribution and after giving effect thereto;                       (p)    investments received in connection with the dispositions of assets permitted        by Section 6.05(e) or (g);                      (q)    Guarantees by the Borrower or any of the Subsidiaries of leases (other than        Capital Lease Obligations) or of other obligations of the Borrower or any of its Subsidiaries        that  do  not  constitute  Indebtedness,  in  each  case  entered  into in  the  ordinary  course  of        business that is consistent with past practice;                       (r)    investments made after the Effective Date by the Borrower and/or any of its        Subsidiaries in an aggregate outstanding amount not to exceed the portion, if any, of the        Available Amount on such date that the Borrower elects to apply to this clause (r); and                       (s)   in  addition  to  investments  otherwise  expressly  permitted  by  this  Section,        investments  by  the  Borrower  or  any  of  its  Subsidiaries,  so  long  as  after  giving  effect  to        such investment (i) the Total Net Leverage Ratio, calculated on a pro forma basis, would        not exceed 1.50:1.00 and (ii) no Default or Event of Default has occurred and is continuing.                SECTION 6.05.  Asset Sales.  No Loan Party will, nor will it permit any Subsidiary to, sell,   transfer, lease or otherwise dispose of any asset, including any Equity Interest owned by it, nor will  Holdings permit any Subsidiary to issue any additional Equity Interest in such Subsidiary (other  than to the Borrower or another Subsidiary in compliance with Section 6.04), except:                            (a)   sales,  transfers  and  dispositions  of  (i) Inventory  in  the  ordinary  course  of        business and (ii) used, obsolete, worn out or surplus Equipment or property in the ordinary        course of business;                                         87                                               

 

                                                                                                                                                                  (b)  sales, transfers and dispositions of assets to the Borrower or any Subsidiary,   provided that any such sales, transfers or dispositions involving a Subsidiary that is not a   Loan Party shall be made in compliance with Section 6.09;                  (c)   sales,  transfers  and  dispositions  of  Accounts  in  the  ordinary course of   business in connection with the compromise, settlement or collection thereof;                  (d)   sales,  transfers  and  dispositions  constituting  an  investment  permitted  by   Section 6.04;                  (e)   Sale and Leaseback Transactions permitted by Section 6.06;                  (f)  dispositions resulting from any casualty or other insured damage to, or any   taking under power of eminent domain or by condemnation or similar proceeding of, any  property or asset of Holdings or any Subsidiary;                 (g)   sales, transfers and other dispositions of assets that are not permitted by any  other clause of this Section; provided that both immediately before and after giving effect   thereto,  no  Default  or  Event  of  Default  shall  have  occurred  and  be  continuing  and  the   aggregate fair market value of all assets sold, transferred or otherwise disposed of since the   Effective  Date  in  reliance  upon  this  clause  (g)  shall  not  exceed  $25,000,000  in  the   aggregate; provided further that, so long as no Default or Event of Default has occurred and   is continuing or after giving effect to such transaction, in addition to the foregoing, the Loan   Parties and their Subsidiaries may make unlimited sales, transfers, leases or dispositions of   assets  so  long  as  after  giving  effect  to  such  disposition  the  Total  Net  Leverage  Ratio,   calculated on a pro forma basis, would not exceed 1.50:1.00;                        (h)   Restricted  Payments  permitted  by  Section  6.08,  transactions  permitted  by   Section 6.03 and Liens permitted by Section 6.02;                    (i)  the non-exclusive licensing or sublicensing of Intellectual Property rights in   the ordinary course of business;                  (j)   the abandonment or cancellation of intellectual property, in the reasonable   judgment of the Borrower, that is no longer used or useful in any material respect in the   business of Holdings and its Subsidiaries, taken as a whole;                  (k)   dispositions  of  investments in  joint  ventures  to  the  extent  required  by,  or   made  pursuant  to  customary  buy/sell  arrangements  between,  the  joint venture  parties  set   forth in joint venture arrangements and similar binding arrangements;                  (l)  dispositions of cash and cash equivalents in the ordinary course of business   for consideration consisting of cash or cash equivalents;                  (m)  any surrender or waiver of contract rights or settlement, release or surrender   of contract, tort or other litigation claims in the ordinary course of business;                                   88                                                     

 

                                                                                                                                                                                      (n)   sales of assets received by the Borrower or any Subsidiary Guarantor from        Persons other than the Borrower or a Subsidiary Guarantor upon foreclosure on a Lien in        favor of the Borrower of such Subsidiary;                             (o)   dispositions  of  non-core,  duplicative  or  unnecessary  assets  that  were        acquired in connection with a Permitted Acquisition; provided, that any such disposition        shall  be  made  or  contractually  committed  to  be  made  within  365 days  of  the  date  such        assets were acquired by Borrower or any of its Subsidiaries; and                 (p)   to the extent constituting a sale, disposition or transfer of assets, the sale,        disposition or transfer of Accounts pursuant to a Permitted Factoring Facility;                provided that all sales, transfers, leases and other dispositions permitted under clauses (a) through  (g) above (other than those permitted by clauses (b) and (f) above) shall be made for fair value and  for at least 75% cash consideration.                SECTION 6.06.  Sale and Leaseback Transactions.  No Loan Party will, nor will it permit  any  Subsidiary  to,  enter  into  any  arrangement,  directly  or  indirectly,  whereby  it  shall  sell  or  transfer  any  property,  real  or  personal,  used  or  useful  in  its business, whether now owned or  hereafter acquired, and thereafter rent or lease such property or other property that it intends to use  for  substantially  the  same  purpose  or  purposes  as  the  property sold  or  transferred  (a  “Sale  and  Leaseback Transaction”), except for any such sale of any fixed or capital assets by the Borrower or  any Subsidiary that is made for cash consideration in an amount not less than the fair value of such  fixed or capital asset and is consummated within 90 days after the Borrower or such Subsidiary  acquires or completes the construction of such fixed or capital asset.         SECTION 6.07.  Swap Agreements.  No Loan Party will, nor will it permit any Subsidiary  to,  enter  into  any  Swap  Agreement  (other  than  any  Commodity  Swap  Agreements),  except  (a)  Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Subsidiary  has  actual  exposure  (other  than  those  in  respect  of  Equity  Interests  of  the  Borrower  or  any  Subsidiary), and (b) Swap Agreements entered into in order to effectively cap, collar or exchange  interest  rates  (from  floating  to  fixed  rates,  from  one  floating  rate  to  another  floating  rate  or  otherwise)  with  respect  to  any  interest-bearing  liability  or  investment  of  the  Borrower  or  any  Subsidiary.          SECTION  6.08.   Restricted  Payments;  Certain  Payments  of  Indebtedness.   (a)  No  Loan  Party  will,  nor  will  it  permit  any  Subsidiary  to,  declare  or  make,  or  agree  to  declare  or  make,  directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to  do so, except (i) each of Holdings and the Borrower may declare and pay dividends with respect to  its common stock payable solely in additional shares of its common stock, and, with respect to its  preferred  stock,  payable  solely  in  additional  shares  of  such  preferred  stock  or  in  shares  of  its  common stock, (ii) Subsidiaries of Holdings may declare and pay dividends ratably with respect to  their Equity Interests to any Loan Party or any wholly-owned Subsidiary of any Loan Party, (iii)  the  Borrower  may  make  Restricted  Payments  or  make  distributions  to  Holdings,  to  repurchase,  redeem  or otherwise acquire for value Equity Interests of Holdings held by officers, directors or  employees or former officers, directors or employees (or their transferees, estates or beneficiaries                                        89                                             

 

                                                                                                                                                            under their estates) of Holdings or any of its Subsidiaries upon their death, disability, retirement,  severance or termination of employment or service; provided that the aggregate consideration paid  for  all  such  redemptions  and  payments  shall  not  exceed,  in  any fiscal  year,  $5,000,000  (in  each  case, with unused amounts in any fiscal year being carried over to the next succeeding fiscal year);  (iv)  Restricted  Payments  to  Holdings  to  pay  corporate  and  overhead  expense  attributable  to  the  preservation of their existence (including expenses relating to Holdings’ continuing operation as a  public  company)  or  ownership  of  the  Borrower  and  its  Subsidiaries  in  the  ordinary  course  of  business; (v) to the extent constituting Restricted Payments, Holdings and any of its Subsidiaries  may  enter  into  and  consummate  transactions  expressly  permitted by  any  provision  of  Sections  6.03,  6.04  or  6.09;  (vi)  the  Borrower  may  make  Restricted  Payments  or  make  distributions  to  Holdings,  to  allow  Holdings  to  make  regularly  scheduled  quarterly  dividend  payments  to  its  shareholders  in  an  amount  not to  exceed  the  greater of  (x) $10,000,000  during  any  Test  Period  after giving pro forma effect to such quarterly dividend or (y) $0.21 per issued share of common  stock of Holdings that is outstanding on the date such quarterly dividend is made, (vii) so long as  no Default or Event of Default has occurred and is continuing after giving pro forma effect thereto,  other Restricted Payments made after the Effective Date by Holdings and/or any of its Subsidiaries  in an aggregate outstanding amount not to exceed the portion, if any, of the Available Amount on  such date that the Borrower elects to apply to this clause (vii); (viii) Holdings and/or any of its  Subsidiaries may make additional Restricted Payments so long as (i) the Total Net Leverage Ratio,  calculated on a pro forma basis, would not exceed 1.50:1.00 and (ii) no Default or Event of Default  has occurred and is continuing after giving pro forma effect to such Restricted Payment; and (ix)  the Borrower may make Restricted Payments or make distributions to Holdings, to allow Holdings  to pay Taxes arising from the operations of Borrower and its Subsidiaries.          (b)  No Loan Party will, nor will it permit any Subsidiary to, make or agree to pay or  make, directly or indirectly, any payment or other distribution (whether in cash, securities or other  property) of or in respect of principal of or interest on any (x) Subordinated Lien Indebtedness or  (y) Subordinated Indebtedness (the Indebtedness described in clauses (x) and (y), the “Restricted  Debt”)  or  any  payment  or  other  distribution  (whether  in  cash,  securities  or  other  property),  including any sinking fund or similar deposit, on account of the purchase, redemption, retirement,  acquisition,  cancellation  or  termination  of  any  Restricted  Debt  prior  to  the  scheduled  maturity  (collectively, “Restricted Debt Payments”), except:                            (i)  payments  as  part  of  an  applicable  high  yield  discount  obligation  catch-up        payment;                (ii)  payment of regularly scheduled interest and principal payments as and when        due in respect of any Indebtedness permitted under Section 6.01, other than payments in        respect  of  the  Subordinated  Indebtedness  prohibited  by  the  subordination  provisions        thereof;                            (iii)  refinancings of Indebtedness to the extent permitted by Section 6.01;                             (iv)  payment  of  secured  Indebtedness  that  becomes  due  as  a  result  of  the        voluntary sale or transfer of the property or assets securing such Indebtedness to the extent        such  sale  or  transfer  is  permitted  by  the  terms  of  Section  6.05 and other mandatory        prepayments of ABL Obligations in each case not prohibited by Intercreditor Agreement:                                        90                                             

 

                                                                                                                                                                  (i)  required  to  be  made  pursuant  to  the  ABL  Credit  Agreement  as  in  effect  on  the  date        hereof or (ii) other mandatory prepayments  of  Loan  Obligations required  to  be  made        pursuant to the ABL Credit Agreement which are paid solely with the proceeds of ABL        Priority Collateral; and                (v)   Restricted Debt Payments in an aggregate amount not to exceed the portion,  if any, of the Available Amount on such date that the Borrower elects to apply to this clause (v);  and                 (vi) other Restricted Debt Payments so long as after giving pro forma effect to such  payment,  (i)  the  Total  Net  Leverage  Ratio,  calculated  on  a  pro forma  basis,  would  not  exceed  1.50:1.00 and (ii) no Default or Event of Default has occurred and is continuing.                SECTION  6.09.   Transactions  with  Affiliates.   No  Loan  Party  will,  nor  will  it  permit any Subsidiary to, sell, lease or otherwise transfer any property or assets to, or purchase,  lease  or  otherwise  acquire  any  property  or  assets  from,  or  otherwise  engage  in  any  other  transactions with, any of its Affiliates, except (a) transactions that (i) are in the ordinary course of  business and (ii) are at prices and on terms and conditions not less favorable to such Loan Party or  such  Subsidiary  than  could  be  obtained  on  an  arm’s-length  basis  from  unrelated  third  parties,  (b) transactions  between  or  among  the  Borrower  and  any  Subsidiary  that  is  a  Loan  Party  not  involving any other Affiliate, (c) any investment permitted by Section 6.04, (d) any Indebtedness  permitted under Section 6.01(c), (e) any Restricted Payment permitted by Section 6.08, (f) loans or  advances  to  employees  permitted  under  Section 6.04,  (g)  the  payment  of  reasonable  fees  to  directors of Holdings or any Subsidiary who are not employees of Holdings or any Subsidiary, and  compensation and employee benefit arrangements paid to, and indemnities provided for the benefit  of,  directors,  officers  or  employees  of  Holdings  or  its  Subsidiaries  in  the  ordinary  course  of  business, (h) any issuances of securities or other payments, awards or grants in cash, securities or  otherwise  pursuant  to,  or  the  funding  of,  employment  agreements,  stock  options  and  stock  ownership plans approved by Holdings’ or the Borrower’s board of directors, (i) transactions with  entities that are joint ventures solely as a result of the Borrower’s or a Subsidiary’s Control over  such  joint  venture,  (j)  customary  tax-sharing  agreements  and  arrangements,  (k)  any  agreement,  instrument or arrangement as in effect as of the Effective Date and set forth in Schedule 6.09, or  any  amendment  thereto  (so  long  as  any  such  amendment  is  not  adverse  to  the  Lenders  in  any  material  respect  as  compared  to  the  applicable  agreement  as  in effect  on  the  Effective  Date  as  reasonably determined in good faith by the Borrower), and (l) the existence of, or the performance  by a Loan Party or any of its Subsidiaries of its obligations under the terms of, any stockholders  agreement  or  its  equivalent  (including  any  registration  rights agreement  or  purchase  agreement  related thereto) to which it is a party as of the Effective Date and set forth in Schedule 6.09 and  any similar agreements which it may enter into thereafter; provided, however, that the existence of,  or the performance by such Loan Party or any of its Subsidiaries of obligations under any future  amendment to any such existing agreement or under any similar agreement entered into after the  Effective Date shall only be permitted by this clause (l) to the extent that the terms of any such  existing agreement together with all amendments thereto, taken as a whole, or new agreement are  not otherwise more disadvantageous to the Lenders in any material respect than the terms of the  original agreement in effect on the Effective Date as reasonably determined in good faith by the  Borrower.                                                91                                             

 

                                                                                                                                                                    SECTION  6.10.   Restrictive  Agreements.   No  Loan  Party  will,  nor  will  it  permit  any   Subsidiary  to,  directly  or  indirectly,  enter  into,  incur  or  permit  to  exist  any  agreement  or  other   arrangement that prohibits, restricts  or  imposes  any  condition upon (a) the ability of such Loan  Party or any Subsidiary to create, incur or permit to exist any Lien upon any of its property or  assets, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to  any of its Equity Interests or to make or repay loans or advances to the Borrower or any other  Subsidiary or to Guarantee Indebtedness of the Borrower or any other Subsidiary; provided that (i)   the foregoing shall not apply to restrictions and conditions imposed by any Requirement of Law or   by any Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on   the date hereof identified on Schedule 6.10, in the ABL Credit Agreement or any document with   respect to any Incremental Equivalent Debt (or any extension, renewal or refinancing thereof, or   any amendment or modification thereto, that does not expand the scope of, any such restriction or   condition in any material respect), (iii) the foregoing shall not apply to customary restrictions and  conditions contained in agreements relating to the sale of a Subsidiary or the assets of any Loan  Party or Subsidiary thereof pending such sale, provided that such restrictions and conditions apply   only to the Subsidiary or assets that is to be sold and such sale is permitted hereunder, (iv) clause   (a) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating   to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only   to the property or assets securing such Indebtedness, (v) clause (a) of the foregoing shall not apply   to customary provisions in leases restricting the assignment thereof, (vi) the foregoing shall not   apply  to  any  agreement  or  other  instrument  of  a  Person  acquired  by  a  Loan  Party  or  any  of  its   Subsidiaries in existence at the time of such Acquisition (but not created in connection therewith or   in  contemplation  thereof),  (vii)  the  foregoing  shall  not  apply to  customary  provisions  in  joint   venture  agreements,  limited  liability  company  operating  agreements,  partnership  agreements,   stockholders  agreements  and  other  similar  agreements,  (viii)  the  foregoing  shall  not  apply  to   customary provisions contained in leases and other agreements entered into in the ordinary course   of business, and (ix) the foregoing shall not apply to restrictions under agreements evidencing or   governing or otherwise relating to Indebtedness permitted under Section 6.01 of Subsidiaries that   are not Loan Parties; provided that such restriction is only with respect to the assets of Subsidiaries   that are not Loan Parties.           SECTION  6.11.  Amendment  of  Material  Documents.   No  Loan  Party will,  nor  will  it   permit  any  Subsidiary  to,  amend,  modify  or  waive  any  of  its  rights  under  (a) any  agreement   relating to any Specified Indebtedness or (b) its charter, articles or certificate of incorporation or   organization, by-laws, operating, management or partnership agreement or other organizational or   governing  documents,  in  each  case,  to  the  extent  any  such  amendment,  modification  or  waiver   would  be  materially  adverse  to  the  Lenders  in  any  respect,  except  in  respect  or  Specified   Indebtedness to the extent such amendment, modification or waiver would be permitted pursuant   to Section 6.01(f).           SECTION 6.12.  [Intentionally Omitted.]              SECTION 6.13.  Holding Company.  Holdings shall not engage at any time in any business   or  business  activity  other  than (i)  ownership  of  Equity  Interests of the Borrower, together with   activities directly related thereto; (ii) performance of its obligations under and in connection with   the Loan Documents; (iii) issuance of Equity Interests; and (iv) as otherwise necessary to comply   with any Requirement of Law. Holdings shall (x) own no assets other than the Equity Interests of                                         92                                               

 

                                                                                                                                                               the Borrower, its books and records, deposit accounts of Holdings, all cash deposits held therein,   and  cash  paid  to  Holdings  in  accordance  with  the  terms  hereof, (y)  incur  no  Indebtedness  for   borrowed money other than guarantees of Indebtedness of the Borrower and Subsidiaries permitted   hereunder and (z) grant no Lien on any of its assets other than Liens created pursuant to the Loan   Documents and the ABL Loan Documents and ordinary course Liens incurred under customary   deposit account agreements entered into by Holdings with respect to deposit accounts.                                       ARTICLE VII                                      Events of Default           If any of the following events (“Events of Default”) shall occur:            (a)   the Borrower shall fail to pay any principal of any Loan when and as the same shall  become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof  or otherwise;            (b)   the  Borrower  shall  fail  to  pay  any  interest  on  any  Loan  or  any  fee  or  any  other  amount  (other  than  an  amount  referred  to  in  clause  (a) of  this Article)  payable  under  this  Agreement or any other Loan Document, when and as the same shall become due and payable, and  such failure shall continue unremedied for a period of three (3) Business Days;           (c)   any representation or warranty made or deemed made by or on behalf of any Loan  Party or any Subsidiary in, or in connection with, this Agreement or any other Loan Document or  any  amendment  or  modification  hereof  or  thereof  or  waiver  hereunder  or  thereunder,  or  in  any  report,  certificate,  financial  statement  or  other  document  furnished  pursuant  to  or  in  connection  with this Agreement or any other Loan Document or any amendment or modification hereof or  thereof  or  waiver  hereunder  or  thereunder,  shall  prove  to  have been  materially  incorrect  when  made or deemed made;          (d)    any  Loan  Party  shall  fail  to  observe  or  perform  any  covenant,  condition  or  agreement  contained  in  Sections  5.01,  5.02(a),  5.03  (with  respect  to  a  Loan  Party’s  existence),  5.07, 5.08, or 5.15 or in Article VI;          (e)    any Loan Party shall fail to observe or perform any covenant, condition or agree- ment  contained  in  this  Agreement  (other  than  those  which  constitute  a  default  under  another  Section of this Article), and such failure shall continue unremedied for a period of (i) five (5) days  after  the  earlier  of  any  Loan  Party’s  knowledge  of  such  breach or  notice  thereof  from  the  Administrative  Agent  (which  notice  will  be  given  at  the  request  of  any  Lender)  if  such  breach  relates to terms or provisions of Sections 5.02 (other than Section 5.02(a)), 5.03 (other than with  respect to a Loan Party’s existence) through 5.06, 5.10, 5.11 or 5.13 of this Agreement or (ii) 30  days  after the  earlier  of  any  Loan Party’s  knowledge  of  such  breach or  notice  thereof  from  the  Administrative  Agent  (which  notice  will  be  given  at  the  request  of  any  Lender)  if  such  breach  relates to terms or provisions of any other Section of this Agreement;            (f)   any Loan Party or Subsidiary shall fail to make any payment (whether of principal   or  interest  and  regardless  of  amount)  in  respect  of  any  Material  Indebtedness,  when  and  as  the                                         93                                               

 

                                                                                                                                                               same shall become due and payable;           (g)    any event or condition occurs that results in any Material Indebtedness becoming   due prior to its scheduled maturity or that enables or permits (with or without the giving of notice,   the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent   on  its  or  their  behalf  to  cause  any  Material  Indebtedness  to  become  due,  or  to  require  the   prepayment,  repurchase,  redemption  or  defeasance  thereof,  prior  to  its  scheduled  maturity;   provided that this clause (g) shall not apply to secured Indebtedness that becomes due as a result of   the  voluntary  sale  or  transfer of  the  property  or  assets  securing  such  Indebtedness  to  the  extent   such sale or transfer is permitted by Section 6.05; provided, further, that the Loan Parties’ failure   to perform or observe the fixed charge coverage ratio financial covenant under Section 6.12 of the   ABL Credit Agreement shall not constitute an Event of Default unless and until (x) the “Required   Lenders” under and as defined in the ABL Credit Agreement have declared all obligations under   the ABL Loan Documents to be immediately due and payable and such declaration has not been   rescinded  or  (y)  such  failure  with  respect  to  the  fixed  charge coverage  ratio  financial  covenant   remains unwaived by the “Required Lenders” under and as defined in the ABL Credit Agreement   for a period of more than 180 consecutive calendar days;           (h)    an involuntary proceeding shall be commenced or an involuntary petition shall be   filed seeking (i) liquidation, reorganization or other relief in respect of a Loan Party or Subsidiary   or its debts, or of a substantial part of its assets, under any Federal, state or foreign bankruptcy,   insolvency,  receivership  or  similar  law  now  or  hereafter  in  effect  or  (ii) the  appointment  of  a   receiver,  trustee,  custodian,  sequestrator,  conservator  or  similar  official  for  any  Loan  Party  or   Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition   shall continue undismissed for sixty (60) days or an order or decree approving or ordering any of   the foregoing shall be entered;            (i)   any Loan Party or Subsidiary shall (i) voluntarily commence any proceeding or file   any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign   bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the   institution  of,  or  fail  to  contest  in  a  timely  and  appropriate manner,  any  proceeding  or  petition   described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver,   trustee, custodian, sequestrator, conservator or similar official for such Loan Party or Subsidiary or   for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition  filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors  or (vi) take any action for the purpose of effecting any of the foregoing;           (j)   any Loan Party or Subsidiary shall become unable, admit in writing its inability, or  publicly declare its intention not to, or fail generally to pay its debts as they become due;          (k)    (i)  one  or  more  judgments  for  the  payment  of  money  in  an  aggregate  amount  in  excess  of  $10,000,000  shall  be  rendered  against  any  Loan  Party,  any  Subsidiary  or  any  combination thereof and the same shall remain undischarged for a period of thirty (30) consecutive  days during which execution shall not be effectively stayed, or any action shall be legally taken by  a judgment creditor to attach or levy upon any assets of any Loan Party or Subsidiary to enforce  any  such  judgment;  or  (ii)  any  Loan  Party  or  Subsidiary  shall  fail  within  thirty  (30)  days  to   discharge one or more non-monetary judgments or orders which, individually or in the aggregate,                                         94                                               

 

                                                                                                                                                               could reasonably be expected to have a Material Adverse Effect, which judgments or orders, in any   such case, are not stayed on appeal or otherwise being appropriately contested in good faith by   proper proceedings diligently pursued;            (l)  an ERISA Event shall have occurred that, in the opinion of the Required Lenders,  when taken together with all other ERISA Events that have occurred, could reasonably be expected  to result in a Material Adverse Effect;           (m)   a Change in Control shall occur;                (n)    the occurrence of any “default”, as defined in any Loan Document (other than this  Agreement), or the breach of any of the terms or provisions of any Loan Document (other than this  Agreement), which default or breach continues beyond any period of grace therein provided;           (o)   the Loan Guaranty or any Obligation Guaranty shall fail to remain in full force or  effect or any action shall be taken to discontinue or to assert the invalidity or unenforceability of  the Loan Guaranty or any Obligation Guaranty or any Loan Guarantor shall fail to comply with  any of the terms or provisions of the Loan Guaranty or any Obligation Guaranty to which it is a  party, or any Loan Guarantor shall deny that it has any further liability under the Loan Guaranty or  any Obligation Guaranty to which it is a party, or shall give notice to such effect, including, but not  limited to notice of termination delivered pursuant to Section 10.08 or any notice of termination  delivered pursuant to the terms of any Obligation Guaranty;           (p)   except as permitted by the terms of any Collateral Document or required by terms  of the Intercreditor Agreement, (i) any Collateral Document shall for any reason fail to create a  valid security interest in any Collateral (with respect to Collateral having an aggregate book value  in  excess  of  $5,000,000)  purported  to  be  covered  thereby,  or  (ii)  any  Lien  (with  respect  to  Collateral  having  an  aggregate  book  value  in  excess  of  $5,000,000)  securing  any  Secured  Obligation shall cease to be a perfected, first priority Lien;            (q)   any  Collateral  Document  shall  fail  to  remain  in  full  force  or  effect  or any  action  shall  be  taken  to  discontinue  or  to  assert  the  invalidity  or  unenforceability  of  any  Collateral  Document; or           (r)   any  material  provision  of  any  Loan  Document  for  any  reason  ceases to  be  valid,  binding  and  enforceable  in  accordance  with  its  terms  (or  any  Loan  Party  shall  challenge  the  enforceability of any Loan Document or shall assert in writing, or engage in any action or inaction  that evidences its assertion, that any provision of any of the Loan Documents has ceased to be or   otherwise is not valid, binding and enforceable in accordance with its terms);       then,  and  in  every  such  event  (other  than  an  event  with  respect to  any Loan  Party described in   clause (h) or (i) of this Article), and at any time thereafter during the continuance of such event,   the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the   Borrower, take either or both of the following actions, at the same or different times:  (i) terminate   the Commitments, whereupon the Commitments shall terminate immediately, and (ii) declare the   Loans  then  outstanding  to  be  due  and  payable  in  whole  (or  in  part,  but  ratably  as  among  the   Classes of Loans and the Loans of each Class at the time outstanding, in which case any principal                                         95                                               

 

                                                                                                                                                               not  so  declared  to  be  due  and  payable  may  thereafter  be  declared  to  be  due  and  payable),   whereupon the principal of the Loans so declared to be due and payable, together with accrued   interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become   due and payable immediately, in each case without presentment, demand, protest or other notice of   any  kind,  all  of  which  are  hereby  waived  by  the  Borrower;  and  in  the  case  of  any  event  with   respect  to  the  Borrower  described  in  clause  (h)  or  (i)  of  this Article,  the  Commitments  shall   automatically  terminate  and  the  principal  of  the  Loans  then  outstanding,  together  with  accrued   interest  thereon  and  all  fees  and  other  obligations  of  the  Borrower  accrued  hereunder,  shall   automatically become due and payable, in each case without presentment, demand, protest or other   notice of any kind, all of which are hereby waived by the Borrower.  Upon the occurrence and   during the continuance of an Event of Default, the Administrative Agent may, and at the request of   the  Required  Lenders  shall,  increase  the  rate  of  interest  applicable  to  the  Loans  and  other   Obligations as set forth in this Agreement.  Upon the occurrence and during the continuance of an   Event of Default, the Administrative Agent may and at the request of the Required Lenders shall,   in  accordance  with  the  terms  of  the  Intercreditor  Agreement  for  so  long  as  the  Intercreditor   Agreement  is  in  effect,  exercise  any  rights  and  remedies  provided  to  the  Administrative  Agent   under the Loan Documents or at law or equity, including all remedies provided under the UCC.                                       ARTICLE VIII                                                                          The Administrative Agent              SECTION  8.01.  Appointment.  Each  of  the  Lenders,  on  behalf  of  itself  and  any  of  its   Affiliates  that  are  Secured  Parties  hereby  irrevocably  appoints  the  Administrative  Agent  as  its   agent  and  authorizes  the  Administrative  Agent  to  take  such  actions  on  its  behalf,  including   execution  of  the  other  Loan  Documents,  and  to  exercise  such  powers  as  are  delegated  to  the   Administrative Agent by the terms of the Loan Documents, together with such actions and powers   as  are  reasonably  incidental  thereto.   In  addition,  to  the  extent  required  under  the  laws  of  any   jurisdiction other than the U.S., each of the Lenders, on behalf of itself and any of its Affiliates that   are Secured Parties, hereby grants to the Administrative Agent any required powers of attorney to   execute  any  Collateral  Document  governed  by  the  laws  of  such  jurisdiction  on  such  Lender’s   behalf.  The provisions of this Article are solely for the benefit of the Administrative Agent and the  Lenders,  and  the  Loan  Parties  shall  not  have  rights  as  a  third party  beneficiary  of  any  of  such  provisions. It is understood and agreed that the use of the term “agent” as used herein or in any  other  Loan  Documents  (or  any  similar  term)  with  reference  to  the  Administrative  Agent  is  not  intended to connote any fiduciary or other implied (or express) obligations arising under agency  doctrine of any applicable law.  Instead, such term is used as a matter of market custom, and is  intended to create or reflect only an administrative relationship between independent contracting  parties.                  SECTION 8.02. Rights as a Lender. The bank serving as the Administrative Agent   hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender   and may exercise the same as though it were not the Administrative Agent, and such bank and its   Affiliates may accept deposits from, lend money to and generally engage in any kind of business   with any Loan Party or any Subsidiary or any Affiliate thereof as if it were not the Administrative   Agent hereunder.                                         96                                               

 

                                                                                                                                                                              SECTION 8.03. Duties and Obligations. The Administrative Agent shall not have   any duties or obligations except those expressly set forth in the Loan Documents.  Without limiting   the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary   or  other  implied  duties,  regardless  of  whether  a  Default  has  occurred  and  is  continuing,  (b) the   Administrative  Agent  shall  not  have  any  duty  to  take  any  discretionary  action  or  exercise  any   discretionary powers, except discretionary rights and powers expressly contemplated by the Loan   Documents  that  the  Administrative  Agent  is  required  to  exercise  as  directed  in  writing  by  the   Required Lenders (or such other number or percentage of the Lenders as shall be necessary under   the circumstances as provided in Section 9.02), and, (c) except as expressly set forth in the Loan   Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable   for  the  failure  to  disclose,  any  information  relating  to  any Loan  Party or  any  Subsidiary  that is   communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates   in any capacity.  The Administrative Agent shall not be liable for any action taken or not taken by   it with the consent or at the request of the Required Lenders (or such other number or percentage   of the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or in the   absence of its own gross negligence or willful misconduct as determined by a final nonappealable   judgment of a court of competent jurisdiction.  The Administrative Agent shall be deemed not to   have  knowledge  of  any  Default  unless  and  until  written  notice  thereof  is  given  to  the   Administrative  Agent  by  the  Borrower  or  a  Lender,  and  the  Administrative  Agent  shall  not  be  responsible  for  or  have  any  duty  to  ascertain  or  inquire  into  (i) any  statement,  warranty  or  representation  made  in  or  in  connection  with  any  Loan  Document,  (ii) the  contents  of  any  certificate,  report  or  other  document  delivered  hereunder  or  in  connection  with  any  Loan  Document, (iii) the performance or observance of any of the covenants, agreements or other terms  or  conditions  set  forth  in  any  Loan  Document,  (iv) the  validity,  enforceability,  effectiveness  or  genuineness  of  any  Loan  Document or  any  other  agreement,  instrument  or  document,  (v)  the  creation,  perfection  or  priority  of  Liens  on  the  Collateral  or the  existence  of  the  Collateral,  or  (vi) the satisfaction of any condition set forth in Article IV or elsewhere in any Loan Document,  other  than  to  confirm  receipt  of  items  expressly  required  to  be  delivered  to  the  Administrative  Agent.                  SECTION 8.04. Reliance. The Administrative Agent shall be entitled to rely upon,   and  shall  not  incur  any  liability  for  relying  upon,  any  notice,  request,  certificate,  consent,   statement, instrument, document or other writing believed by it to be genuine and to have been   signed or sent by the proper Person.  The Administrative Agent also may rely upon any statement   made to it orally or by telephone and believed by it to be made by the proper Person, and shall not   incur any liability for relying thereon.  The Administrative Agent may consult with legal counsel   (who may be counsel for the Borrower), independent accountants and other experts selected by it,   and shall not be liable for any action taken or not taken by it in accordance with the advice of any   such counsel, accountants or experts.                 SECTION  8.05.   Actions  through  Sub-Agents.  The  Administrative  Agent  may   perform any and all of its duties and exercise its rights and powers by or through any one or more   sub-agents appointed by the Administrative Agent.  The Administrative Agent and any such sub-  agent  may  perform  any  and  all  of  its  duties  and  exercise  its  rights  and  powers  through  their   respective Related Parties.  The exculpatory provisions of the preceding paragraphs shall apply to   any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent,                                         97                                               

 

                                                                                                                                                               and  shall  apply  to  their  respective  activities  in  connection  with  the  syndication  of  the  credit   facilities provided for herein as well as activities as the Administrative Agent.                  SECTION  8.06.  Resignation.  Subject  to  the  appointment  and  acceptance  of  a   successor  Administrative  Agent  as  provided  in  this  paragraph,  the  Administrative  Agent  may   resign at any time by notifying the Lenders and the Borrower.  Upon  any  such  resignation,  the   Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor.  If   no successor shall have been so appointed by the Required Lenders and shall have accepted such   appointment  within  thirty  (30) days  after  the  retiring  Administrative  Agent  gives  notice  of  its   resignation,  then  the  retiring  Administrative  Agent  may,  on  behalf  of  the  Lenders,  appoint  a  successor Administrative Agent which shall be a bank with an office in New York, New York, or  an Affiliate of any such bank.  Upon the acceptance of its appointment as Administrative Agent  hereunder by its successor, such successor shall succeed to and become vested with all the rights,   powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative   Agent  shall  be  discharged  from  its  duties  and  obligations  hereunder  and  under  the  other  Loan   Documents.  The fees payable by the Borrower to a successor Administrative Agent shall be the   same  as  those  payable  to  its  predecessor,  unless  otherwise  agreed  by  the  Borrower  and  such   successor.  Notwithstanding the foregoing, in the event no successor Administrative Agent shall   have been so appointed and shall have accepted such appointment within thirty (30) days after the   retiring Administrative Agent gives notice of its intent to resign, the retiring Administrative Agent   may  give  notice  of  the  effectiveness  of  its  resignation  to  the Lenders  and  the  Borrower,   whereupon, on the date of effectiveness of such resignation stated in such notice, (a) the retiring   Administrative Agent shall be discharged from its duties and obligations hereunder and under the   other  Loan  Documents,  provided  that,  solely  for  purposes  of  maintaining  any  security  interest   granted to the Administrative Agent under any Collateral Document for the benefit of the Secured   Parties, the retiring Administrative Agent shall continue to be vested with such security interest as   collateral  agent  for  the  benefit  of  the  Secured  Parties  and,  in  the  case  of  any  Collateral  in  the   possession of the Administrative Agent, shall continue to hold such Collateral, in each case until   such  time  as  a  successor  Administrative  Agent  is  appointed  and accepts  such  appointment  in   accordance  with  this  paragraph  (it  being  understood  and  agreed that  the  retiring  Administrative   Agent shall have no duly or obligation to take any further action under any Collateral Document,   including any action required to maintain the perfection of any such security interest), and (b) the   Required Lenders shall succeed to and become vested with all the rights, powers, privileges and   duties  of  the  retiring  Administrative  Agent,  provided  that  (i) all  payments  required  to  be  made   hereunder or under any other Loan Document to the Administrative Agent for the account of any   Person  other  than  the  Administrative  Agent  shall  be  made  directly  to  such  Person  and  (ii)  all   notices  and  other  communications  required  or  contemplated  to  be given or made to the   Administrative  Agent  shall  also  directly  be  given  or  made  to  each  Lender.   Following  the   effectiveness of the Administrative Agent’s resignation from its capacity as such, the provisions of   this  Article,  Section  2.17(d)  and  Section 9.03,  as  well  as  any exculpatory,  reimbursement  and   indemnification provisions set forth in any other Loan Document, shall continue in effect for the   benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in   respect  of  any  actions  taken  or omitted  to  be  taken  by  any  of  them  while  it  was  acting  as   Administrative  Agent  and  in  respect  of  the  matters  referred  to in the proviso under clause (a)   above.                                             98                                               

 

                                                                                                                                                                        SECTION  8.07.  Non-Reliance.   Each  Lender  acknowledges  and  agrees  that  the  extensions of credit made hereunder are commercial loans and letters of credit and not investments  in a business enterprise or securities.  Each Lender further represents that it is engaged in making,  acquiring  or  holding  commercial  loans  in  the  ordinary  course  of  its  business  and  has,  independently and without reliance upon the Administrative Agent or any other Lender and based  on such documents and information as it has deemed appropriate, made its own credit analysis and  decision to enter into this Agreement as a Lender, and to make, acquire or hold Loans hereunder.   Each Lender shall, independently and without reliance upon the Administrative Agent or any other  Lender and based on such documents and information (which may contain material, non-public  information within the meaning of the United States securities laws concerning the Borrower and  its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in  taking or not taking action under or based upon this Agreement, any other Loan Document, any  related agreement or any document furnished hereunder or thereunder and in deciding whether or  to the extent to which it will continue as a Lender or assign or otherwise transfer its rights, interests  and obligations hereunder.          SECTION 8.08. Other Agency Titles.   The Co-Syndication Agents and Co-Documentation  Agents identified on the title page of this Agreement and the Joint Lead Arrangers shall not have  any right, power, obligation, liability, responsibility or duty under this Agreement other than those  applicable to all Lenders as such.  Without limiting the foregoing, none of such Lenders shall have  or be deemed to have a fiduciary relationship with any Lender.  Each Lender hereby makes the  same acknowledgments with respect to the relevant Lenders in their respective capacities as Co- Syndication  Agents,  Co-Documentation  Agents  and  Joint  Lead  Arrangers,  as  applicable,  as  it  makes with respect to the Administrative Agent in the preceding paragraph.                     SECTION 8.09.  Not Partners or Co-Venturers; Administrative Agent as Representative of  the Secured Parties; Bankruptcy; Credit Bidding.   (a) The Lenders  are  not  partners  or  co- venturers, and no Lender shall be liable for the acts or omissions of, or (except as otherwise set  forth  herein  in  case  of  the  Administrative  Agent)  authorized  to  act  for,  any  other  Lender.   The  Administrative  Agent  shall  have  the  exclusive  right  on  behalf  of  the  Lenders  to  enforce  the  payment of the principal of and interest on any Loan after the date such principal or interest has  become due and payable pursuant to the terms of this Agreement.               (b)   In its capacity, the Administrative Agent is a “representative” of the Secured  Parties  within  the  meaning  of  the  term  “secured  party”  as  defined  in  the  New  York  Uniform  Commercial  Code.   Each  Lender  authorizes  the  Administrative  Agent  to  enter  into  each  of  the  Collateral Documents to which it is a party and to take all action contemplated by such documents.   Each  Lender  agrees  that  no  Secured  Party  (other  than  the  Administrative  Agent)  shall  have  the  right individually to seek to realize upon the security granted by any Collateral Document, it being  understood  and  agreed  that  such  rights  and  remedies  may  be  exercised  solely  by  the  Administrative  Agent  for  the  benefit  of  the  Secured  Parties  upon  the  terms  of  the  Collateral  Documents.   In  the  event  that  any  Collateral  is  hereafter  pledged  by  any  Person  as  collateral  security for the Secured Obligations, the Administrative Agent is hereby authorized, and hereby  granted  a  power  of  attorney,  to  execute  and  deliver  on  behalf  of  the  Secured  Parties  any  Loan  Documents necessary or appropriate to grant and perfect a Lien on such Collateral in favor of the  Administrative Agent on behalf of the Secured Parties.                                           99                                             

 

                                                                                                                                                                           (c)  In case of the pendency of any proceeding with respect to any Loan Party   under  any  Federal,  state  or  foreign  bankruptcy,  insolvency,  receivership  or  similar  law  now  or   hereafter  in  effect,  the  Administrative  Agent  (irrespective  of whether  the  principal  of  any  Loan   shall then be due and payable as herein expressed or by declaration or otherwise and irrespective   of  whether  the  Administrative  Agent  shall  have  made  any  demand on  the  Borrower)  shall  be   entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:                     (i)  to  file  and  prove  a  claim  for  the  whole  amount  of  the  principal  and         interest owing and unpaid in respect of the Loans and all other Secured Obligations that are         owing and unpaid and to file such other documents as may be necessary or advisable in         order to have the claims of the Lenders and the Administrative Agent (including any claim         under Sections 2.12, 2.13, 2.15, 2.16, 2.17 and 9.03) allowed in such judicial proceeding;         and                      (ii) collect and receive any monies or other property payable or deliverable         on any such claims and to distribute the same;    and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in  any such proceeding is hereby authorized by each Lender and each other Secured Party to make  such payments to the Administrative Agent and, in the event that the Administrative Agent shall  consent to the making of such payments directly to the Lenders or the other Secured Parties, to pay   to  the  Administrative  Agent  any  amount  due  to  it,  in  its  capacity  as  the  Administrative  Agent,   under the Loan Documents (including under Section 9.03).                (d)   The Secured Parties hereby irrevocably authorize the Administrative Agent,   at  the  direction  of  the  Required  Lenders,  to  credit  bid  all  or any  portion  of  the  Obligations   (including  by  accepting  some  or  all  of  the  Collateral  in  satisfaction  of  some  or  all  of  the   Obligations pursuant to a deed in lieu of foreclosure or otherwise) and in such manner purchase   (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a)   at  any  sale  thereof  conducted  under  the  provisions  of  the  Bankruptcy  Code,  including  under   Sections 363, 1123 or 1129 of the Bankruptcy Code, or any similar laws in any other applicable   jurisdictions,  or  (b)  at  any  other  sale,  foreclosure  or  acceptance  of  collateral  in  lieu  of  debt   conducted by (or with the consent or at the direction of) the Administrative Agent (whether by   judicial action or otherwise) in accordance with any applicable law.  In connection with any such   credit bid and purchase, the Obligations owed to the Secured Parties shall be entitled to be, and   shall  be,  credit  bid  by  the  Administrative  Agent  at  the  direction  of  the  Required  Lenders  on  a   ratable  basis  (with  Obligations  with  respect  to  contingent  or  unliquidated  claims  receiving   contingent interests in the acquired assets on a ratable basis that shall vest upon the liquidation of   such claims in an amount proportional to the liquidated portion of the contingent claim amount   used in allocating the contingent interests) for  the asset or assets so purchased (or for the equity   interests  or debt  instruments  of  the  acquisition  vehicle  or  vehicles that  are issued  in  connection   with  such  purchase).   In  connection  with  any  such  bid  (i)  the  Administrative  Agent  shall  be   authorized to form one or more acquisition vehicles and to assign any successful credit bid to such   acquisition vehicle or vehicles (ii) each of the Secured Parties’ ratable interests in the Obligations   which  were  credit  bid  shall  be  deemed  without  any  further  action  under  this  Agreement  to  be   assigned to such vehicle or vehicles for the purpose of closing such sale, (iii) the Administrative   shall be authorized to adopt documents providing for the governance of the acquisition vehicle or   vehicles (provided that any actions by the Administrative Agent with respect to such acquisition                                         100                                               

 

                                                                                                                                                               vehicle  or  vehicles,  including  any  disposition  of  the  assets  or  equity  interests  thereof,  shall  be   governed, directly or indirectly, by, and the governing documents shall provide for, control by the   vote of the Required Lenders or their permitted assignees under the terms of this Agreement or the   governing  documents  of  the  applicable  acquisition  vehicle  or  vehicles,  as  the  case  may  be,   irrespective of the termination of this Agreement and without giving effect to the limitations on  actions  by  the  Required  Lenders  contained  in  Section  9.02  of  this  Agreement),  (iv)  the  Administrative Agent on behalf of such acquisition vehicle or vehicles shall be authorized to issue  to each of the Secured Parties, ratably on account of the relevant Obligations which were credit  bid, interests, whether as equity, partnership, limited partnership interests or membership interests,  in  any  such  acquisition  vehicle  and/or  debt  instruments  issued by  such  acquisition  vehicle,  all  without the need for any Secured Party or acquisition vehicle to take any further action, and (v) to  the  extent  that  Obligations  that  are  assigned  to  an  acquisition vehicle are not used to acquire  Collateral for any reason (as a result of another bid being higher or better, because the amount of  Obligations assigned to the acquisition vehicle exceeds the amount of Obligations credit bid by the  acquisition  vehicle  or  otherwise),  such  Obligations  shall  automatically  be  reassigned  to  the  Secured Parties pro rata and the equity interests and/or debt instruments issued by any acquisition  vehicle on account of such Obligations shall automatically be cancelled, without the need for any  Secured  Party  or  any  acquisition  vehicle  to  take  any  further  action.   Notwithstanding  that  the  ratable portion of the Obligations of each Secured Party are deemed assigned to the acquisition  vehicle  or  vehicles  as  set  forth  in  clause  (ii)  above,  each  Secured Party shall execute such  documents and provide such information regarding the Secured Party (and/or any designee of the  Secured  Party  which  will  receive  interests  in  or  debt  instruments  issued  by  such  acquisition  vehicle) as the Administrative Agent may reasonably request in connection with the formation of  any acquisition vehicle, the formulation or submission of any credit bid or the consummation of  the transactions contemplated by such credit bid.               SECTION 8.10. Flood Laws.   JPMCB has adopted internal policies and procedures that   address  requirements  placed  on  federally  regulated  lenders  under  the  National  Flood  Insurance   Reform Act of 1994 and related legislation (the “Flood Laws”).  JPMCB, as administrative agent   or  collateral  agent  on  a  syndicated  facility,  will  post  on  the applicable  electronic  platform  (or   otherwise distribute to each Lender in the syndicate) documents that it receives in connection with   the  Flood  Laws.   However,  JPMCB  reminds  each  Lender  and  Participant  in  the  facility  that,   pursuant  to  the  Flood  Laws,  each  federally  regulated  Lender  (whether  acting  as  a  Lender  or   Participant in the facility) is responsible for assuring its own compliance with the flood insurance  requirements.                                        ARTICLE IX                                                                              Miscellaneous            SECTION  9.01.   Notices.   (a)  Except  in  the  case  of  notices  and  other  communications   expressly permitted to be given by telephone or Electronic Systems (and subject in each case to   paragraph (b) below), all notices and other communications provided for herein shall be in writing   and shall be delivered by hand or overnight courier service, mailed by certified or registered mail  or sent by facsimile, as follows:                                           101                                               

 

                                                                                                                                                                        (i)  if to any Loan Party, to the Borrower at:                                  Global Brass and Copper, Inc.                     475 N. Martingale Rd., Suite 1050                    Schaumburg, IL 60173     Attention: Chief Financial Officer                    Facsimile No: (847) 240-4733                            (ii) if to the Administrative Agent, to JPMorgan Chase Bank, N.A. at:                                  JPMorgan Chase Bank, N.A                    10 South Dearborn St. Floor L2                    Chicago, IL 60603                    Attention: Ryan Bowman                    Facsimile No: (844) 490-5663                            (iii)  if to any other Lender, to it at its address or facsimile number set forth in its                 Administrative Questionnaire.    All such notices and other communications (i) sent by hand or overnight courier service, or mailed  by  certified  or  registered  mail,  shall  be  deemed  to  have  been  given  when  received,  (ii)  sent  by  facsimile shall be deemed to have been given when sent, provided that if not given during normal  business hours of the recipient, such notice or communication shall be deemed to have been given  at  the  opening  of  business  on  the  next  Business  Day  of  the  recipient,  or  (iii)  delivered  through  Electronic Systems to the extent provided in paragraph (b) below shall be effective as provided in  such paragraph.          (b)   Notices  and  other  communications  to  the  Lenders  hereunder may  be  delivered  or  furnished  by  Electronic  Systems  pursuant  to  procedures  approved  by  the  Administrative  Agent;  provided that the foregoing shall not apply to notices pursuant to Article II or to compliance and no  Default  certificates  delivered  pursuant  to  Section  5.01(d)  unless  otherwise  agreed  by  the  Administrative  Agent  and  the  applicable  Lender.   Each  of  the  Administrative  Agent  and  the  Borrower (on behalf of the Loan Parties) may, in its discretion, agree to accept notices and other  communications  to  it  hereunder  by  Electronic  Systems  pursuant  to  procedures  approved  by  it;  provided that approval of such procedures may be limited to particular notices or communications.   Unless the Administrative Agent otherwise proscribes, all such notices and other communications  (i)  sent  to  an  e-mail  address  shall  be  deemed  received  upon  the  sender’s  receipt  of  an  acknowledgement from the intended recipient (such as by the “return receipt requested” function,  as available, return e-mail or other written acknowledgement), provided that if not given during the  normal  business  hours  of  the  recipient,  such  notice  or  communication  shall  be  deemed  to  have  been given at the opening of business on the next Business Day for the recipient, and (ii) posted to  an Internet or intranet website shall be deemed received upon the deemed receipt by the intended  recipient,  at  its  e-mail  address  as  described  in  the  foregoing clause (i),  of  notification  that  such  notice or communication is available and identifying the website address therefor; provided that,  for both clauses (i) and (ii) above, if such notice, e-mail or other communication is not sent during  the normal business hours of the recipient, such notice or communication shall be deemed to have  been sent at the opening of business on the next Business Day of the recipient.                                        102                                             

 

                                                                                                                                                                              (c)   Any  party  hereto  may  change  its  address,  facsimile  number or  e-mail  address  for   notices and other communications hereunder by notice to the other parties hereto.                    (d)  Electronic Systems.                  (i)   Each Loan Party agrees that the Administrative Agent may, but shall not be   obligated  to,  make  Communications  (as  defined  below)  available to  the  Lenders  by  posting  the   Communications  on  Debt  Domain,  Intralinks,  Syndtrak,  ClearPar  or  a  substantially  similar   Electronic System.                       (ii)   Any Electronic System used by the Administrative Agent is provided “as is”   and “as available.”  The Agent Parties (as defined below) do not warrant the adequacy of such   Electronic Systems and expressly disclaim liability for errors or omissions in the Communications.    No warranty of any kind, express, implied or statutory, including any warranty of merchantability,   fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or   other code defects, is made by any Agent Party in connection with the Communications or any   Electronic  System.   In  no  event  shall  the  Administrative  Agent or  any  of  its  Related  Parties   (collectively, the “Agent Parties”) have any liability to the Borrower or the other Loan Parties, any   Lender or any other Person or entity for damages of any kind, including direct or indirect, special,   incidental  or  consequential  damages,  losses  or  expenses  (whether  in  tort,  contract  or  otherwise)   arising  out  of  the  Borrower’s,  any  Loan  Party’s  or  the  Administrative  Agent’s  transmission  of   communications  through  an  Electronic  System.   “Communications” means,  collectively,  any   notice, demand, communication, information, document or other material provided by or on behalf   of any Loan Party pursuant to any Loan Document or the transactions contemplated therein which   is  distributed  by  the  Administrative  Agent,  any  Lender  by  means  of  electronic  communications   pursuant to this Section, including through an Electronic System.                  SECTION  9.02.   Waivers;  Amendments.   (a)  No  failure  or  delay by  the  Administrative   Agent  or  any  Lender  in  exercising  any  right  or  power  hereunder or  under  any  other  Loan   Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such   right or power, or any abandonment or discontinuance of steps to enforce such a right or power,   preclude any other or further exercise thereof or the exercise of  any  other  right  or  power.   The   rights and remedies of the Administrative Agent and the Lenders hereunder and under any other   Loan Document are cumulative and are not exclusive of any rights or remedies that they would   otherwise have.  No waiver of any provision of any Loan Document or consent to any departure by  any  Loan  Party  therefrom  shall  in  any  event  be  effective  unless the same shall be permitted by  paragraph (b)  of  this  Section,  and  then  such  waiver  or  consent shall  be  effective  only  in  the  specific  instance  and  for  the  purpose  for  which  given.   Without  limiting  the  generality  of  the  foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of  whether the Administrative Agent, any Lender may have had notice or knowledge of such Default  at the time.           (b)   Subject  to  the  provisions  set  forth  in  Sections  2.14(b),  2.23,  2.24,  9.02(f)  and/or  with regards to a Dutch Auction, neither this Agreement nor any other Loan Document nor any  provision  hereof  or  thereof  may  be  waived,  amended  or  modified except  (x)  in  the  case  of  this  Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and                                         103                                               

 

                                                                                                                                                               the Required Lenders or (y) in the case of any other Loan Document, pursuant to an agreement or   agreements in writing entered into by the Administrative Agent and the Loan Party or Loan Parties   that are parties thereto, with the consent of the Required Lenders; provided that no such agreement   shall  (i)  increase  the  Commitment  of  any  Lender  without  the  written  consent  of  such  Lender   (including any such Lender that is a Defaulting Lender), (ii) reduce or forgive the principal amount   of any Loan or reduce the rate of interest thereon, or reduce or forgive any interest, fees or any   other  Obligation  payable  hereunder,  without  the  written  consent  of  each  Lender  (including  any   such Lender that is a Defaulting Lender) directly affected thereby, (iii) postpone any scheduled   date of payment of the principal amount of any Loan, or any date for the payment of any interest,   fees or other Obligations payable hereunder, or reduce the amount of, waive or excuse any such   payment, or postpone the scheduled date of expiration of any Commitment, without the written   consent of each Lender (including any such Lender that is a Defaulting Lender) directly affected   thereby,  (iv)  change  Section  2.18(b)  or  (d)  in  a  manner  that  would  alter  the  manner  in  which   payments  are  shared,  without  the  written  consent  of  each  Lender  (other  than  any  Defaulting   Lender),  (v)  [reserved],  (vi)  change  any  of  the  provisions  of  this  Section  or  the  definition  of   “Required  Lenders”  or  any  other  provision  of  any  Loan  Document specifying  the  number  or   percentage of Lenders (or Lenders of any Class) required to waive, amend or modify any rights   thereunder or make any determination or grant any consent thereunder, without the written consent   of each Lender (other than any Defaulting Lender) directly affected thereby, (vii) change Section   2.20,  without  the  consent  of  each  Lender  (other  than  any  Defaulting  Lender),  (viii)  release  any   Guarantor from its obligation under its Loan Guaranty or Obligation Guaranty (except as otherwise   permitted  herein  or  in  the  other  Loan  Documents),  without  the  written  consent  of  each  Lender   (other than any Defaulting Lender), (ix) except as provided in clause (c) of this Section or in any   Collateral Document, release all or substantially all of the Collateral, without the written consent   of  each  Lender  (other  than  any  Defaulting  Lender),  or  (x)  permit  the  Borrower  to  assign  or   otherwise transfer any of its rights or obligations hereunder without the written consent of each   Lender (other than any Defaulting Lender); provided further that no such agreement shall amend,   modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the   prior  written  consent  of  the  Administrative  Agent  (it  being  understood  that  any  amendment  to   Section 2.20 shall require the consent of the Administrative Agent.  The Administrative Agent may   also amend the Commitment Schedule to reflect assignments entered into pursuant to Section 9.04.    The Administrative Agent and the Borrower may amend, restate, amend and restate or otherwise   modify the Intercreditor Agreement and/or any other intercreditor agreement, as provided therein,   in connection with a transaction permitted hereunder.                          (c)   The  Lenders  hereby irrevocably authorize  the Administrative  Agent,  at  its  option   and in its sole discretion, to release any Liens granted to the Administrative Agent by the Loan   Parties  on  any  Collateral  (i)  upon  the  termination  of  all  of  the  Commitments,  payment  and   satisfaction in full in cash of all Secured Obligations (other than Unliquidated Obligations), and the   cash  collateralization  of  all  Unliquidated  Obligations  in  a  manner  satisfactory  to  each  affected   Lender, (ii) constituting property being sold or disposed (including, without limitation pursuant to   pursuant to a Permitted Factoring Facility) of if the Loan Party disposing of such property certifies   to the Administrative Agent that the sale or disposition is made in compliance with the terms of   this  Agreement  (and  the  Administrative  Agent  may  rely  conclusively  on  any  such  certificate,   without further inquiry), and to the extent that the property being sold or disposed of constitutes  100% of the Equity Interests of a Subsidiary, the Administrative Agent is authorized to release any  Loan  Guaranty  or  Obligation  Guaranty  provided  by  such  Subsidiary,  (iii)  constituting  property                                         104                                               

 

                                                                                                                                                               leased  to  a  Loan  Party  under  a  lease  which  has  expired  or  been terminated  in  a  transaction   permitted under this Agreement, or (iv) as required to effect any sale or other disposition of such   Collateral  in  connection  with  any  exercise  of  remedies  of  the  Administrative  Agent  and  the   Lenders pursuant to Article VII, (v) upon the release of a Subsidiary Guarantor that is no longer a   Material Subsidiary or (vi) constituting ABL Priority Collateral that is released, sold or disposed   of pursuant to the terms of ABL Loan Documents and which, in accordance with Section 4.2 of the   Intercreditor Agreement, the Administrative Agent is required to release the Liens granted to the   Administrative  Agent  by  the  Loan  Parties  on  such  ABL  Priority  Collateral.   Further,  the   Administrative  Agent  may  (and  is  hereby  irrevocably  authorized by  each  Lender  to),  upon  the   request  of  the  Borrower,  release  any  Subsidiary  Guarantor  from its  obligations  under  the  Loan   Guaranty if such Subsidiary Guarantor is no longer a Material Domestic Subsidiary.  Except as   provided  in  the  foregoing,  the  Administrative  Agent  will  not  release  any  Liens  on  Collateral   without the prior written authorization of the Required Lenders.  Any such release shall not in any  manner discharge, affect, or impair the Obligations or any Liens (other than those expressly being  released) upon (or obligations of the Loan Parties in respect of) all interests retained by the Loan  Parties,  including  the  proceeds of  any  sale,  all  of  which  shall  continue  to  constitute  part  of  the  Collateral.  Any execution and delivery by the Administrative Agent of documents in connection  with any such release shall be without recourse to or warranty by the Administrative Agent.          (d)    If,  in  connection  with  any  proposed  amendment,  waiver  or  consent  requiring  the  consent of “each Lender” or “each Lender affected thereby,” (or with respect to Replacement Term  Loans, any other Class or group of Lenders other than the Required Lenders) with respect to which  the consent of the Required Lender (or with respect to Replacement Term Loans the consent of  Lenders holding loans or commitments of such Class or lesser group representing more than 50%  of the sum of the total loans and unused commitments of such Class or lesser group at such time) is  obtained,  but  the  consent  of  other  necessary  Lenders  is  not  obtained  (any  such  Lender  whose  consent  is  necessary  but  has  not  been  obtained  being  referred  to  herein  as  a  “Non-Consenting   Lender”), then the Borrower may elect to replace a Non-Consenting Lender as a Lender party to   this Agreement, provided that, concurrently with such replacement, (i) another bank or other entity   which is reasonably satisfactory to the Borrower, the Administrative Agent shall agree, as of such   date,  to  purchase  for  cash  the  Loans  and  other  Obligations  due to  the  Non-Consenting  Lender   pursuant to an Assignment and Assumption and to become a Lender for all purposes under this   Agreement  and  to  assume  all  obligations  of  the  Non-Consenting  Lender  to  be  terminated  as  of   such date and to comply with the requirements of clause (b) of Section 9.04, and (ii) the Borrower   shall pay to such Non-Consenting Lender in same day funds on the day of such replacement (1) all   interest, fees and other amounts then accrued but unpaid to such Non-Consenting Lender by the   Borrower  hereunder  to  and  including  the  date  of  termination,  including  without  limitation   payments due to such Non-Consenting Lender under Sections 2.15 and 2.17, and (2) an amount, if   any,  equal  to  the  payment  which  would  have  been  due  to  such  Lender  on  the  day  of  such   replacement under Section 2.16 had the Loans of such Non-Consenting Lender been prepaid on   such date rather than sold to the replacement Lender.  To the extent that any Lender is replaced   pursuant  to  this  Section  in  connection  with  a  Repricing  Transaction  requiring  payment  of  a  fee   pursuant to Section 2.12(c), the Borrower shall pay to each Lender being replaced as a result of   such Repricing Transaction the fee set forth in Section 2.12(c).           (e)    Notwithstanding  anything  to  the  contrary  herein  the  Administrative  Agent  may,   with the consent of the Borrower only, amend, modify or supplement this Agreement or any of the                                         105                                               

 

                                                                                                                                                               other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency.            (f)   Notwithstanding anything to the contrary herein, this Agreement may be amended   with  the  written  consent  of  the  Borrower  and  the  Lenders  providing  the  relevant  Replacement   Term Loans to permit the refinancing or replacement of all or any portion of the outstanding Loans  under any Class (any such loans being refinanced or replaced, the “Replaced Term Loans”) with   one  or  more  replacement  term  loans  hereunder  (“Replacement  Term  Loans”)  pursuant  to  a   Refinancing Amendment; provided that                              (A)   the  aggregate  principal  amount  of  any  Replacement  Term               Loans shall not exceed the aggregate principal amount of the Replaced Term Loans               (plus (1) any additional amounts permitted to be incurred under Section 6.01(a), (r),               (s) and/or (t) and, to the extent any such additional amounts are secured, the related               Liens are permitted under Section 6.02 and plus (2) the amount of accrued interest               and premium (including tender premium) thereon and underwriting discounts, fees               (including  upfront  fees  and  original  issue  discount),  commissions  and  expenses               associated therewith),                            (B)   any Replacement Term Loans must have a final maturity date               that is equal to or later than the final maturity date of, and have a Weighted Average               Life  to  Maturity  that  is  equal  to  or  greater  than  the  Weighted Average  Life  to               Maturity  of,  the  relevant  Replaced  Term  Loans  at  the  time  of  the  relevant               refinancing,                            (C)   any  Replacement  Term  Loans  may  be  pari  passu  with  or               junior to any then-existing Loans in right of payment and pari passu with or junior               to such Loans with respect to the Collateral (provided that any Replacement Term               Loans that are pari passu with or junior to any then-existing Loans shall be subject               to  an  Acceptable  Intercreditor  Agreement  and  may  be,  at  the  option  of  the               Administrative  Agent  and  the  Borrower,  documented  in  a  separate  agreement  or               agreements), or be unsecured,                            (D)   any  Replacement  Term  Loans  that  are  secured  may  not  be               secured by any assets other than the Collateral,                            (E)   any Replacement Term Loans that are guaranteed may not be               guaranteed by any Person other than the Loan Parties,                            (F)   any  Replacement  Term  Loans  may  not  participate  on  a               greater than pro rata basis in any voluntary or mandatory repayment or prepayment               in  respect  of  the  Loans  (and  any  Additional  Term  Loans  then  subject  to  ratable               repayment requirements),                            (G)   any  Replacement  Term  Loans  may  have  pricing  (including               interest,  fees  and  premiums)  and,  subject  to  preceding  clause  (F),  optional               prepayment  and  redemption  terms  as  may  be  agreed  by  the  Borrower  and  the               lenders providing such Replacement Term Loans, and                                          106                                               

 

                                                                                                                                                                                       (H)   either (i) the other terms and conditions of any Replacement               Term  Loans  (excluding  pricing,  interest,  fees,  rate  floors,  premiums,  optional               prepayment  or  redemption  terms,  security  and  maturity,  subject to  preceding               clauses (B) through (G)) are substantially identical to, or (taken as a whole) no more              favorable (as reasonably determined by the Borrower) to the lenders providing such              Replacement  Term  Loans  than  those  applicable  to  the  relevant  Replaced  Term              Loans (other than covenants or other provisions applicable only to periods after the              Latest Term Loan Maturity Date (in each case, as of the date of incurrence of such              Replacement Term Loans)) or (ii) such Replacement Term Loans are provided on              then-current  market  terms  (as  reasonably  determined  by  the  Borrower)  for  the              applicable type of Indebtedness.   Each  party  hereto  hereby  agrees  that  this  Agreement  may  be  amended  by  the  Borrower,  the  Administrative  Agent  and  the  lenders  providing  the  relevant  Replacement  Term  Loans  to  the  extent (but only to the extent) necessary to reflect the existence and terms of such Replacement  Term  Loans  incurred  or  implemented  pursuant  thereto  (including any  amendment  necessary  to   treat  the  loans  and  commitments subject thereto as a separate “tranche”  and  “Class”  of  Loans   hereunder).   It  is  understood  that  any  Lender  approached  to  provide  all  or  a  portion  of  any   Replacement Term Loans may elect or decline, in its sole discretion, to provide such Replacement   Term Loans.            (g)   Notwithstanding anything to the contrary herein, this Agreement may be amended   (or amended and restated) with the written consent of the Required Lenders, the Administrative   Agent and the Borrower (i) to add one or more additional credit facilities to this Agreement and to   permit any extension of credit from time to time outstanding thereunder and the accrued interest   and fees in respect thereof to share ratably in the relevant benefits of this Agreement and the other   Loan Documents and (ii) to include appropriately the Lenders holding such credit facilities in any   determination of the Required Lenders on substantially the same basis as the Lenders prior to such   inclusion.            SECTION  9.03.   Expenses;  Indemnity;  Damage  Waiver.   (a)  The  Loan  Parties  shall,   jointly and, severally, pay all (i) reasonable and documented out-of-pocket expenses incurred by   the  Administrative  Agent,  JPMCB,  in  its  capacity  as  the  Lead  Arranger  and  their  Affiliates,   including the reasonable fees, charges and disbursements of counsel for the Administrative Agent,   in connection with the syndication and distribution (including, without limitation, via the internet  or through an Electronic System) of the credit facilities provided for herein, the preparation and  administration  of  the  Loan  Documents  and  any  amendments,  modifications  or  waivers  of  the  provisions of the Loan Documents (whether or not the transactions contemplated hereby or thereby   shall be consummated), and (ii) all out-of-pocket expenses incurred by the Administrative Agent,   or any Lender, including the documented fees, charges and disbursements of any counsel for the   Administrative Agent or any Lender, in connection with the enforcement, collection or protection   of its rights in connection with the Loan Documents, including its rights under this Section, or in   connection with the Loans made, including all such out-of-pocket expenses incurred during any   workout, restructuring or negotiations in respect of such Loans.                            (b)   The Loan Parties shall, jointly and severally, indemnify the Administrative Agent   and each Lender, and each Related Party of any of the foregoing Persons (each such Person being   called  an  “Indemnitee”)  against,  and  hold  each  Indemnitee  harmless  from,  any  and  all  losses,                                         107                                               

 

                                                                                                                                                               claims, damages, penalties, incremental Taxes, liabilities and related expenses, including the fees,   charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any   Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of the   Loan Documents or any agreement or instrument contemplated thereby, the performance by the   parties hereto of their respective obligations thereunder or the consummation of the Transactions   or any other transactions contemplated hereby, (ii) any Loan or the use of the proceeds therefrom,   (iii) any  actual  or  alleged  presence  or  Release  of  Hazardous  Materials  on  or  from  any  property   owned or operated by a Loan Party or a Subsidiary, or any Environmental Liability related in any   way  to  a  Loan  Party  or  a  Subsidiary,  (iv)  the  failure  of  a  Loan Party to deliver to the   Administrative Agent the required receipts or other required documentary evidence with respect to   a  payment  made  by  a  Loan  Party  for  Taxes  pursuant  to  Section  2.17,  or  (v)  any  actual  or   prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether   or  not  such  claim,  litigation,  investigation  or  proceeding  is  brought  by  any  Loan  Party  or  their   respective  equity  holders,  Affiliates,  creditors  or  any  other  third  Person  and  whether  based  on   contract,  tort  or  any  other  theory  and  regardless  of  whether  any  Indemnitee  is  a  party  thereto;   provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such   losses,  claims,  damages,  penalties,  liabilities  or  related  expenses  are  determined  by  a  court  of  competent  jurisdiction  by  final  and  non-appealable  judgment  to have  resulted  from  the  gross  negligence  or  willful  misconduct  of  such  Indemnitee. This  Section  9.03(b)  shall  not  apply  with  respect to Taxes other than any Taxes that represent losses or damages arising from any non-Tax  claim.          (c)  To the extent that any Loan Party fails to pay any amount required to be paid by it to  the Administrative Agent (or any sub-agent thereof) (or any Related Party of any of the foregoing)  under  paragraph  (a)  or  (b)  of  this  Section,  each  Lender  severally  agrees  to  pay  to  the  Administrative  Agent  (or  any  Related  Party  of  any  of  the  foregoing),  as  the  case  may  be,  such  Lender’s  Applicable  Percentage  (determined  as  of  the  time  that the  applicable  unreimbursed  expense or indemnity payment is sought) of such unpaid amount (it being understood that the Loan  Parties’  failure  to  pay  any  such  amount  shall  not  relieve  any  Loan  Party  of  any  default  in  the  payment  thereof);  provided  that  the  unreimbursed  expense  or  indemnified  loss,  claim,  damage,   penalty, liability or related expense, as the case may be, was incurred by or asserted against the   Administrative Agent in its capacity as such.            (d)  To the extent permitted by applicable law, no Loan Party shall assert, and each Loan   Party hereby waives, any claim against any Indemnitee, (i) for any damages arising from the use   by  others  of  information  or  other  materials  obtained  through  telecommunications,  electronic  or   other information transmission systems (including the Internet), or (ii) on any theory of liability,   for special, indirect, consequential or punitive damages (as opposed to direct or actual damages)   arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, or   any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or the   use  of  the  proceeds  thereof;  provided  that,  nothing  in  this  paragraph  (d)  shall  relieve  any  Loan   Party  of  any  obligation  it  may  have  to  indemnify  an  Indemnitee against  special,  indirect,   consequential or punitive damages asserted against such Indemnitee by a third party.            (e)   All amounts due under this Section shall be payable after written demand therefor.                                             108                                               

 

                                                                                                                                                                 SECTION 9.04.  Successors and Assigns.  (a)  The provisions of this Agreement shall be  binding  upon  and  inure  to  the  benefit  of  the  parties  hereto  and  their  respective  successors  and  assigns permitted hereby, except that (i) the Borrower may not assign or otherwise transfer any of  its  rights  or  obligations  hereunder  without  the  prior  written  consent  of  each  Lender  (and  any  attempted assignment or transfer by the Borrower without such consent shall be null and void) and  (ii)  no  Lender  may  assign  or  otherwise  transfer  its  rights  or  obligations  hereunder  except  in  accordance with this Section.  Nothing in this Agreement, expressed or implied, shall be construed  to confer upon any Person (other than the parties hereto, their respective successors and assigns  permitted hereby, Participants (to the extent provided in paragraph (c) of this Section) and, to the  extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and  the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.                      (b)(i)  Subject  to  the  conditions  set  forth  in  paragraph  (b)(ii)  below,  any  Lender  may  assign to one or more Eligible Assignees (other than an Ineligible Institution) all or a portion of its  rights and obligations under this Agreement (including all or a portion of its Commitment and the  Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably  withheld) of:                     (A)    the Borrower, provided that the Borrower shall be deemed to have        consented  to  any  such  assignment  unless  it  shall  object  thereto  by  written  notice  to  the        Administrative Agent within ten (10) Business Days after having received notice thereof,        and provided further that no consent of the Borrower shall be required for an assignment to        a  Lender,  an  Affiliate  of  a  Lender,  an  Approved  Fund  or,  if  an Event  of  Default  has        occurred and is continuing, any other assignee; and                             (B)    the Administrative Agent;                 (ii)  Assignments shall be subject to the following additional conditions:                      (A)    except in the case of an assignment to a Lender or an Affiliate of a        Lender  or  an  Approved  Fund  or  an  assignment  of  the  entire  remaining  amount  of  the        assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or        Loans of the assigning Lender subject to each such assignment (determined as of the date        the  Assignment  and  Assumption  with  respect  to  such  assignment  is  delivered  to  the        Administrative Agent) shall not be less than $500,000 unless each of the Borrower and the        Administrative  Agent  otherwise  consent,  provided  that  no  such  consent  of  the  Borrower        shall be required if an Event of Default has occurred and is continuing;                     (B)    each  partial  assignment  shall  be  made  as  an  assignment  of a       proportionate  part  of  all  the  assigning  Lender’s  rights  and  obligations  under  this       Agreement;                                 (C)    the  parties  to  each  assignment  shall  execute  and  deliver to  the        Administrative Agent (x) an Assignment and Assumption or (y) to the extent applicable, an        agreement  incorporating  an  Assignment  and  Assumption  by  reference  pursuant  to  a        Platform  as  to  which  the  Administrative  Agent  and  the  parties  to  the  Assignment  and        Assumption are participants, together with a processing and recordation fee of $3,500, such                                        109                                             

 

                                                                                                                                                                     fee to be paid by either the assigning Lender or the assignee Lender or shared between such         Lenders; and                       (D)   the  assignee,  if  it  shall not  be  a  Lender,  shall  deliver to  the         Administrative  Agent  an  Administrative  Questionnaire  in  which  the  assignee  designates        one or more credit contacts to whom all syndicate-level information (which may contain        material  non-public  information  about  the  Borrower,  the  other  Loan  Parties  and  their        Related Parties or their respective securities) will be made available and who may receive        such information in accordance with the assignee’s compliance procedures and applicable        laws, including Federal and state securities laws.          For  the  purposes  of  this  Section  9.04(b),  the  terms  “Approved Fund”  and  “Ineligible   Institution” have the following meanings:           “Approved  Fund”  means  any  Person  (other  than  a  natural  person)  that  is  engaged  in   making,  purchasing,  holding  or  investing  in  bank  loans  and  similar  extensions  of  credit  in  the   ordinary  course  of  its  business  and  that  is  administered  or  managed  by  (a)  a  Lender,  (b)  an   Affiliate  of  a  Lender  or  (c)  an  entity  or  an  Affiliate  of  an  entity  that  administers  or  manages  a   Lender.           “Ineligible Institution” means a (a) natural person, (b) a Defaulting Lender or its Parent, (c)   holding company, investment vehicle or trust for, or owned and operated for the primary benefit   of, a natural person or relative(s) thereof; provided that, such holding company, investment vehicle   or trust shall not constitute an Ineligible Institution if it (x) has not been established for the primary   purpose of acquiring any Loans or Commitments, (y) is managed by a professional advisor, who is   not  such  natural  person  or  a  relative  thereof,  having  significant  experience  in  the  business  of   making  or  purchasing  commercial  loans,  and  (z)  has  assets  greater  than  $25,000,000  and  a   significant  part  of  its  activities  consist  of  making  or  purchasing  commercial  loans  and  similar   extensions of credit in the ordinary course of its business, or (d) except to the extent provided in   Section 9.04(e), a Loan Party or a Subsidiary or other Affiliate of a Loan Party.            (iii)  Subject  to  acceptance  and recording  thereof  pursuant  to paragraph (b)(iv)  of  this   Section,  from  and  after  the  effective  date  specified  in  each  Assignment  and  Assumption,  the   assignee  thereunder  shall  be  a  party  hereto  and,  to  the  extent of  the  interest  assigned  by  such   Assignment and Assumption, have the rights and obligations of a Lender under this Agreement,   and  the  assigning  Lender  thereunder  shall,  to  the  extent  of  the  interest  assigned  by  such   Assignment and Assumption, be released from its obligations under this Agreement (and, in the   case  of  an  Assignment  and  Assumption  covering  all  of  the  assigning  Lender’s  rights  and   obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to   be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03).  Any assignment or transfer by a   Lender of rights or obligations under this Agreement that does not comply with this Section 9.04  shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such  rights and obligations in accordance with paragraph (c) of this Section.           (iv)  The Administrative Agent, acting for this purpose as a non-fiduciary agent of the  Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered  to  it  and  a  register  for  the  recordation  of  the  names  and  addresses  of  the  Lenders,  and  the                                         110                                               

 

                                                                                                                                                               Commitment of, and principal amount  (and  stated  interest) of  the Loans owing to, each Lender   pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register shall be   conclusive, and the Borrower, the Administrative Agent and the Lenders shall treat each Person   whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all   purposes  of  this  Agreement,  notwithstanding  notice  to  the  contrary.   The  Register  shall  be   available for inspection by the Borrower and any Lender, at any reasonable time and from time to   time upon reasonable prior notice.            (v)   Upon its receipt of (x) a duly completed Assignment and Assumption executed by   an assigning Lender and an assignee or (y) to the extent applicable, an agreement incorporating an   Assignment and Assumption by reference pursuant to a Platform as to which the Administrative   Agent and the parties to the Assignment and Assumption are participants, the assignee’s completed   Administrative  Questionnaire  (unless  the  assignee  shall  already  be  a  Lender  hereunder),  the   processing and recordation fee referred to in paragraph (b) of this Section and any written consent   to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept  such  Assignment  and  Assumption  and  record  the  information  contained  therein  in  the  Register;  provided that if either the assigning Lender or the assignee shall have failed to make any payment   required to be made by it pursuant to Section 2.05, 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), the   Administrative  Agent  shall  have  no  obligation  to  accept  such  Assignment  and  Assumption  and   record the information therein in the Register unless and until such payment shall have been made   in full, together with all accrued interest thereon.  No assignment shall be effective for purposes of   this Agreement unless it has been recorded in the Register as provided in this paragraph.           (c)  Any Lender may, without the consent of the Borrower or the Administrative Agent, sell   participations  to  one  or  more  banks  or  other  entities  (a  “Participant”)  other  than  an  Ineligible   Institution  in  all  or  a  portion  of  such  Lender’s  rights  and  obligations  under  this  Agreement   (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such   Lender’s obligations under this Agreement shall remain unchanged; (B) such Lender shall remain   solely responsible to the other parties hereto for the performance of such obligations; and (C) the   Borrower,  the  Administrative  Agent  and  the  other  Lenders  shall continue  to  deal  solely  and   directly  with  such  Lender  in  connection  with  such  Lender’s  rights  and  obligations  under  this   Agreement.  Any agreement or instrument pursuant to which a Lender sells such a participation   shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve   any amendment, modification or waiver of any provision of this Agreement; provided that such   agreement  or  instrument  may  provide  that  such  Lender  will  not, without  the  consent  of  the   Participant,  agree  to  any  amendment,  modification  or  waiver  described  in  the  first  proviso  to   Section 9.02(b) that affects such Participant.  The Borrower agrees that each Participant shall be   entitled to the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations   therein,  including  the  requirements  under  Section 2.17(f)  and  (g)  (it  being  understood  that  the   documentation required under Section 2.17(f) shall be delivered to the participating Lender and the  information and documentation required under Section 2.17(g) will be delivered to the Borrower  and  the  Administrative  Agent))  to  the  same  extent  as  if  it  were  a  Lender  and  had  acquired  its  interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (A)   agrees  to  be  subject  to  the  provisions  of  Sections 2.18  and  2.19  as if  it were  an  assignee  under   paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under   Section 2.15 or 2.17, with respect to any participation, than its participating Lender would have                                          111                                               

 

                                                                                                                                                               been entitled to receive, except to the extent such entitlement to receive a greater payment results   from a Change in Law that occurs after the Participant acquired the applicable participation.            Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use   reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 2.19(b)   with  respect  to  any  Participant.   To  the  extent  permitted  by  law,  each  Participant  also  shall  be   entitled to the benefits of Section 9.08 as though it were a Lender, provided such Participant agrees  to be subject to Section 2.18(d) as though it were a Lender.  Each Lender that sells a participation  shall, acting solely for this purpose as an agent of the Borrower, maintain a register on which it  enters the name and address of each Participant and the principal amounts (and stated interest) of  each  Participant’s  interest  in  the  Loans  or  other  obligations  under  this  Agreement  or  any  other  Loan Document (the “Participant Register”); provided that no Lender shall have any obligation to   disclose all or any portion of the Participant Register (including the identity of any Participant or   any  information  relating  to  a  Participant’s  interest  in  any  Commitments,  Loans  or  its  other   obligations under any Loan Document) to any Person except to the extent that such disclosure is   necessary to establish that such Commitment, Loan or other obligation is in registered form under   Section  5f.103-1(c)  of  the  United States  Treasury  Regulations.  The entries in the Participant  Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose  name is recorded in the Participant Register as the owner of such participation for all purposes of  this  Agreement  notwithstanding  any  notice  to  the  contrary.   For  the  avoidance  of  doubt,  the  Administrative  Agent  (in  its  capacity  as  Administrative  Agent) shall  have  no  responsibility  for  maintaining a Participant Register.          (d)    Any Lender may at any time pledge or assign a security interest in all or any portion  of  its  rights  under  this  Agreement  to  secure  obligations  of  such  Lender,  including  without  limitation  any  pledge  or  assignment  to  secure  obligations  to  a Federal  Reserve  Bank,  and  this  Section shall not apply to any such pledge or assignment of a security interest; provided that no   such pledge or assignment of a security interest shall release a Lender from any of its obligations   hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.            (e)   Assignments to the Borrower and its Subsidiaries.  Any Lender may elect to, but is   not obligated to elect to, at any time, assign all or a portion of its rights and obligations in respect   of the Loans to the Borrower and/or any Subsidiary of the Borrower through Dutch Auctions open   to all Lenders on a pro rata basis, subject to the following limitations:                  (A) no Default or Event of Default shall have occurred and be continuing at the         time of acceptance of any bids in any Dutch Auction; and                   (B)  any  Loans  acquired  by  the  Borrower  or  any  of  its  Subsidiaries  shall  be         immediately and automatically cancelled.          SECTION  9.05.   Survival.   All  covenants,  agreements,  representations  and  warranties   made  by  the  Loan  Parties  in  the  Loan  Documents  and  in  the  certificates  or  other  instruments   delivered in connection with or pursuant to this Agreement or any other Loan Document shall be   considered to have been relied upon by the other parties hereto and shall survive the execution and   delivery  of  the  Loan  Documents  and  the  making  of  any  Loans,  regardless  of  any  investigation   made by any such other party or on its behalf and notwithstanding that the Administrative Agent or   any  Lender  may  have  had  notice  or  knowledge  of  any  Default  or  incorrect  representation  or                                         112                                               

 

                                                                                                                                                            warranty at the time any credit is extended hereunder, and shall continue in full force and effect as  long as the principal of or any accrued interest on any Loan or any fee or any other amount payable  under this Agreement is outstanding and unpaid and so long as the Commitments have not expired  or terminated.  The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive  and  remain  in  full  force  and  effect  regardless  of  the  consummation  of  the  transactions  contemplated  hereby,  the  repayment  of  the  Loans,  the  expiration  or  termination  of  the  Commitments or the termination of this Agreement or any other Loan Document or any provision  hereof or thereof.          SECTION 9.06.  Counterparts; Integration; Effectiveness; Electronic Execution.  (a) This  Agreement  may  be  executed  in  counterparts  (and  by  different  parties  hereto  on  different  counterparts), each of which shall constitute an original, but all of which when taken together shall  constitute a single contract.  This Agreement, the other Loan Documents and any separate letter  agreements  with  respect  to  (i)  fees  payable  to  the  Administrative  Agent  constitute  the  entire  contract among the parties relating to the subject matter hereof and supersede any and all previous  agreements and understandings, oral or written, relating to the subject matter hereof.  Except as  provided in Section 4.01, this Agreement shall become effective when it shall have been executed  by the Administrative Agent and when the Administrative Agent shall have received counterparts  hereof  which,  when  taken  together,  bear  the  signatures  of  each of  the  other  parties  hereto,  and  thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective  successors and assigns.           (b)  Delivery of an executed counterpart of a signature page of this Agreement by telecopy,  emailed  pdf.  or  any  other  electronic  means  that  reproduces  an  image  of  the  actual  executed  signature page shall be effective as delivery of a manually executed counterpart of this Agreement.   The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating  to any document to be signed in connection with this Agreement and the transactions contemplated  hereby or thereby shall be deemed to include Electronic Signatures, deliveries or the keeping of  records  in  electronic  form,  each  of  which  shall  be  of  the  same legal  effect,  validity  or  enforceability as a manually executed signature, physical delivery thereof or the use of a paper- based recordkeeping system, as the case may be, to the extent and as provided for in any applicable  law, including the Federal Electronic Signatures in Global and National Commerce Act, the New  York State Electronic Signatures and Records Act, or any other similar state laws based on the  Uniform Electronic Transactions Act; provided that nothing herein shall require the Administrative  Agent to accept electronic signatures in any form or format without its prior written consent.           SECTION 9.07.  Severability.  Any provision of any Loan Document held to be invalid,  illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent  of  such  invalidity,  illegality  or  unenforceability  without  affecting  the  validity,  legality  and  enforceability of the remaining provisions thereof; and the invalidity of a particular provision in a  particular jurisdiction shall not invalidate such provision in any other jurisdiction.          SECTION  9.08.   Right  of  Setoff.   If  an  Event  of  Default  shall have  occurred  and  be  continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time  to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or  special, time or demand, provisional or final) at any time held and other obligations at any time  owing by such Lender or Affiliate to or for the credit or the account of any Loan Party against any                                        113                                             

 

                                                                                                                                                               of and all the Secured Obligations held by such Lender, irrespective of whether or not such Lender   shall have made any demand under the Loan Documents and although such obligations may be   unmatured.  The applicable Lender shall notify the Borrower and the Administrative Agent of such   set-off or application, provided that any failure to give or any delay in giving such notice shall not   affect the validity of any such set-off or application under this Section.  The rights of each Lender   under this Section are in addition to other rights and remedies  (including  other  rights  of  setoff)   which such Lender may have.             SECTION  9.09.   Governing  Law;  Jurisdiction; Consent  to  Service of Process.  (a)  The   Loan Documents (other than those containing a contrary express choice of law provision) shall be   governed by and construed in accordance with the internal laws of the State of New York, but giving   effect to federal laws applicable to national banks.           (b)    Each Loan Party hereby irrevocably and unconditionally submits, for itself and its   property, to the exclusive jurisdiction of any U.S. Federal or New York State court sitting in New   York, New York in any action or proceeding arising out of or relating to any Loan Documents, or   for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably   and unconditionally agrees that all claims in respect of any such action or proceeding may be heard   and determined in such New York State or, to the extent permitted by law, in such Federal court.    Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be   conclusive  and  may  be  enforced  in  other  jurisdictions  by  suit  on  the  judgment  or  in  any  other   manner provided by law.  Nothing in this Agreement or any other Loan Document shall affect any   right  that  the  Administrative  Agent  or  any  Lender  may  otherwise  have  to  bring  any  action  or   proceeding relating to this Agreement or any other Loan Document against any Loan Party or its   properties in the courts of any jurisdiction.            (c)   Each  Loan  Party  hereby  irrevocably  and  unconditionally  waives,  to  the  fullest   extent it may legally and effectively do so, any objection which it may now or hereafter have to the   laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any   other Loan Document in any court referred to in paragraph (b) of this Section.  Each of the parties   hereto  hereby  irrevocably  waives,  to  the  fullest  extent  permitted by law, the defense of an   inconvenient forum to the maintenance of such action or proceeding in any such court.            (d)   Each  party  to  this  Agreement  irrevocably  consents  to  service  of  process  in  the   manner  provided  for  notices  in  Section 9.01.   Nothing  in  this  Agreement  or  any  other  Loan   Document will affect the right of any party to this Agreement to serve process in any other manner   permitted by law.            SECTION  9.10.   WAIVER  OF  JURY  TRIAL.   EACH  PARTY  HERETO  HEREBY   WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT   IT  MAY  HAVE  TO  A  TRIAL  BY  JURY  IN  ANY  LEGAL  PROCEEDING  DIRECTLY OR  INDIRECTLY  ARISING  OUT  OF  OR  RELATING  TO  THIS  AGREEMENT,  ANY  OTHER  LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY  (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY  HERETO  (A) CERTIFIES  THAT  NO  REPRESENTATIVE,  OTHER  AGENT  (INCLUDING  ANY  ATTORNEY)  OF  ANY  OTHER  PARTY  HAS  REPRESENTED,  EXPRESSLY  OR  OTHERWISE,  THAT  SUCH  OTHER  PARTY  WOULD  NOT,  IN  THE  EVENT  OF                                         114                                               

 

                                                                                                                                                               LITIGATION,    SEEK    TO    ENFORCE     THE     FOREGOING     WAIVER      AND   (B) ACKNOWLEDGES  THAT  IT  AND  THE  OTHER  PARTIES  HERETO  HAVE  BEEN   INDUCED  TO  ENTER  INTO  THIS  AGREEMENT  BY,  AMONG  OTHER  THINGS,  THE   MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.            SECTION 9.11.  Headings.  Article and Section headings and the Table of Contents used   herein are for convenience of reference only, are not part of this Agreement and shall not affect the   construction of, or be taken into consideration in interpreting, this Agreement.            SECTION 9.12.  Confidentiality.  Each of the Administrative Agent and the Lenders agrees   to maintain the confidentiality of the Information (as defined below), except that Information may   be  disclosed  (a) to  its  and  its  Affiliates’  directors,  officers,  employees  and  agents,  including   accountants, legal counsel and other advisors (it being understood that the Persons to whom such   disclosure is made will be informed of the confidential nature of such Information and instructed to   keep such Information confidential), (b) to the extent requested by any Governmental Authority   (including  any  self-regulatory  authority,  such  as  the  National Association  of  Insurance   Commissioners),  (c) to  the  extent  required  by  any  Requirement  of  Law  or  by  any  subpoena  or   similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise   of  any  remedies  under  this  Agreement  or  any  other  Loan  Document  or  any  suit,  action  or   proceeding relating to this Agreement or any other Loan Document or the enforcement of rights   hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same   as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or   Participant in, any of its rights or obligations under this Agreement, (ii) any actual or prospective   counterparty (or its advisors) to any swap or derivative transaction relating to the Loan Parties and   their  obligations,  (g)  with  the  consent  of  the  Borrower  or  (iii)  subject  to  the  Borrower’s  prior  approval of the information to be disclosed (not to be unreasonably withheld), to Moody’s or S&P  in connection with obtaining or maintaining ratings as required under Section 5.13, (h) to holders  of Equity Interests in the Borrower, (i) to any Person providing a Guarantee of all or any portion of  the Secured Obligations, or (j) to the extent such Information (i) becomes publicly available other  than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent or  any Lender on a non-confidential basis from a source other than the Borrower.  For the purposes of  this  Section,  “Information”  means  all  information  received  from  the  Borrower  relating  to  the   Borrower or its business, other than any such information that is available to the Administrative   Agent or any Lender on a non-confidential basis prior to disclosure by the Borrower and other than   information  pertaining  to  this  Agreement  provided  by  arrangers to  data  service  providers,   including  league  table  providers,  that  serve  the  lending  industry;  provided  that,  in  the  case  of   information received from the Borrower after the date hereof, such information is clearly identified   at  the  time  of  delivery  as  confidential.   Any  Person  required  to  maintain  the  confidentiality  of   Information as provided in this Section shall be considered to have complied with its obligation to   do so if such Person has exercised the same degree of care to maintain the confidentiality of such   Information as such Person would accord to its own confidential information.            EACH  LENDER  ACKNOWLEDGES  THAT  INFORMATION  AS  DEFINED  IN   SECTION  9.12  FURNISHED  TO  IT  PURSUANT  TO  THIS  AGREEMENT  MAY   INCLUDE    MATERIAL      NON-PUBLIC      INFORMATION      CONCERNING       THE   BORROWER,  THE  OTHER  LOAN  PARTIES  AND   THEIR  RELATED  PARTIES  OR   THEIR  RESPECTIVE  SECURITIES,  AND  CONFIRMS  THAT  IT  HAS  DEVELOPED                                         115                                               

 

                                                                                                                                                               COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC   INFORMATION  AND  THAT  IT  WILL  HANDLE  SUCH  MATERIAL  NON-PUBLIC   INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE   LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS.              ALL  INFORMATION,  INCLUDING  REQUESTS  FOR  WAIVERS  AND   AMENDMENTS,  FURNISHED  BY  THE  BORROWER  OR  THE  ADMINISTRATIVE   AGENT  PURSUANT  TO,  OR  IN  THE        COURSE  OF  ADMINISTERING,  THIS   AGREEMENT  WILL  BE  SYNDICATE-LEVEL  INFORMATION,  WHICH  MAY   CONTAIN  MATERIAL  NON-PUBLIC  INFORMATION  ABOUT  THE  BORROWER,   THE  LOAN  PARTIES  AND  THEIR  RELATED  PARTIES  OR  THEIR  RESPECTIVE   SECURITIES.  ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER   AND  THE  ADMINISTRATIVE  AGENT  THAT  IT  HAS  IDENTIFIED  IN  ITS   ADMINISTRATIVE  QUESTIONNAIRE  A       CREDIT  CONTACT  WHO  MAY  RECEIVE   INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN   ACCORDANCE  WITH  ITS  COMPLIANCE  PROCEDURES  AND  APPLICABLE  LAW,   INCLUDING FEDERAL AND STATE SECURITIES LAWS.           SECTION  9.13.  Several  Obligations;  Nonreliance;  Violation  of  Law.   The  respective   obligations  of  the  Lenders  hereunder  are  several  and  not  joint and  the  failure  of  any  Lender  to   make any Loan or perform any of its obligations hereunder shall not relieve any other Lender from   any of its obligations hereunder.  Each Lender hereby represents that it is not relying on or looking   to any margin stock (as defined in Regulation U of the Board) for the repayment of the Borrowings   provided  for  herein.   Anything  contained  in  this Agreement  to  the  contrary  notwithstanding,  no    Lender shall be obligated to extend credit to the Borrower in violation of any Requirement of Law.            SECTION 9.14.  USA PATRIOT Act.  Each Lender that is subject to the requirements of   the USA PATRIOT Act hereby notifies each Loan Party that pursuant to the requirements of the   USA  PATRIOT  Act,  it  is  required  to  obtain,  verify  and  record  information  that  identifies  such   Loan  Party,  which  information  includes  the  name  and  address  of such  Loan  Party  and  other   information that will allow such Lender to identify such Loan Party in accordance with the USA   PATRIOT Act.            SECTION 9.15.  Disclosure.  Each Loan Party and each Lender hereby acknowledges and   agrees that the Administrative Agent and/or its Affiliates from time to time may hold investments   in, make other loans to or have other relationships with any of the Loan Parties and their respective   Affiliates.  In addition, each Loan Party and each Lender hereby acknowledges that an independent   business  unit  of  JPMCB  has  also  extended  credit  to  the  Borrower  under  the  ABL  Credit   Agreement (the “Independent Chase Loan”).  Each Loan Party and, in case of clauses (a) and (d)   below, each Lender:             (a)   hereby  acknowledges  that  separate  business  units  of  JPMCB  are  a  party  to  this  Agreement and the Independent Chase Loan, operate as separate business units of JPMCB, and  that  the  rights  and  obligations  of  each  such  separate  business unit  under  each  financial  accommodation to each Loan Party are separate and distinct, are exercisable in the sole discretion  of such JPMCB business unit, and shall not be merged in law or in equity;                                                 116                                               

 

                                                                                                                                                                     (b)        hereby acknowledges that a consent, approval, waiver or other action by JPMCB   hereunder  does  not  constitute  a  consent,  approval,  waiver  or  other  action  by  the  other  JPMCB   business  unit  in  respect  to  the Independent  Chase  Loan,  and  that  any  such  action  by  the  other   JPMCB  business  unit  taken  in  respect  to  the  Independent  Chase  Loan  similarly  does  not  bind   JPMCB hereunder;                  (c)         should  communicate  separately  with  each  such  business  unit,  and  distribute   information separately to each such business unit as required under the respective loan documents;   and                   (d)        hereby consents to the separate business units and their Related Parties, working   together  and  sharing information about  the  Loan  Parties.   Notwithstanding  any  consent to  share   information, neither the Loan Parties nor the Lenders should assume that separate business units of   JPMCB have shared information.                SECTION  9.16.   Appointment  for  Perfection.   Each  Lender  hereby  appoints  each  other   Lender as its agent for the purpose of perfecting Liens, for the benefit of the Administrative Agent   and the other Secured Parties, in assets which, in accordance with Article 9 of the UCC or any   other applicable law can be perfected only by possession or control.  Should any Lender (other   than the Administrative Agent) obtain possession or control of any such Collateral, such Lender   shall  notify  the  Administrative  Agent  thereof,  and,  promptly  upon  the  Administrative  Agent’s   request therefor shall deliver such Collateral to the Administrative Agent or otherwise deal with   such Collateral in accordance with the Administrative Agent’s instructions.           SECTION  9.17.   Interest  Rate  Limitation.   Notwithstanding  anything  herein  to  the   contrary, if at any time the interest rate applicable to any Loan, together with all fees (including,   without  limitation,  any  Repricing Premium),  charges  and  other  amounts  which  are  treated  as   interest  on  such  Loan  under  applicable  law  (collectively  the  “Charges”),  shall  exceed  the   maximum  lawful  rate  (the  “Maximum  Rate”)  which  may  be  contracted  for,  charged,  taken,   received or reserved by the Lender holding such Loan in accordance with applicable law, the rate   of interest payable in respect of such Loan hereunder, together with all Charges payable in respect   thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges   that  would  have  been  payable  in  respect  of  such  Loan  but  were  not payable as a result of the   operation of this Section shall be cumulated and the interest and Charges payable to such Lender in  respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor)  until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to  the date of repayment, shall have been received by such Lender.          SECTION  9.18.   Marketing  Consent.   The  Borrower  hereby  authorizes  JPMCB  and  its   affiliates  (collectively,  the  “JPMCB  Parties”),  at  their  respective  sole  expense,  but  without  any   prior approval by the Borrower, to publish tombstones or other advertisements, press releases or   other transactional announcements or updates provided to investor or trade publications, in each   case,  to  consist  of  deal  terms  and  other  information  customarily  found  in  such  publications  or   marketing materials, as each may from time to time determine in its reasonable discretion, subject   in each case that such JPMCB party shall promptly notify you, in advance, of such disclosure.  The  foregoing  authorization  shall  remain  in  effect  unless  and  until  the  Borrower  notifies  JPMCB  in  writing that such authorization is revoked.                                         117                                               

 

                                                                                                                                                                              SECTION 9.19.  Acknowledgement and Consent to Bail-In of EEA Financial Institutions.    Notwithstanding  anything  to  the  contrary  in  any  Loan  Document  or  in  any  other  agreement,   arrangement or understanding among any such parties, each party hereto acknowledges that any   liability of any EEA Financial Institution arising under any Loan Document may be subject to the   write-down and conversion powers of an EEA Resolution Authority and agrees and consents to,   and acknowledges and agrees to be bound by:                (a)   the  application  of  any  Write-Down  and  Conversion  Powers  by an  EEA   Resolution Authority to any such liabilities arising hereunder which may be payable to it by any   party hereto that is an EEA Financial Institution; and                (b)   the  effects  of  any  Bail-In  Action  on  any  such  liability,  including,  if   applicable:                      (i)  a reduction in full or in part or cancellation of any such liability;                      (ii)  a conversion of all, or a portion of, such liability into shares or other               instruments of ownership in such EEA Financial Institution, its parent entity, or a               bridge institution that may be issued to it or otherwise conferred on it, and that such               shares or other instruments of ownership will be accepted by it in lieu of any rights               with  respect  to  any  such  liability  under  this  Agreement  or  any other  Loan               Document; or                      (iii)  the  variation  of  the  terms  of  such  liability  in  connection  with  the               exercise  of  the  write-down  and  conversion  powers  of  any  EEA  Resolution               Authority.          SECTION 9.20.  Intercreditor Agreement.  Each of the Lenders hereby acknowledges that   it  has  received  and  reviewed  the  Intercreditor  Agreement  and  agrees  to  be  bound  by  the  terms   thereof as if such Lender was a signatory thereto.  Such Intercreditor Agreement may provide for,   among  other  things,  (i)  the  Administrative  Agent’s  and  the  Lenders’  forbearance  of,  and  other   limitations on, any exercise of remedies in respect of the Loan Parties and the Collateral that has   been pledged to secure the Obligations  and/or  (ii)  disclaimers of  interests  on,  and  releases  of   security  interests  in,  the  Collateral.  Each  Lender  (and  each  Person  that  becomes  a  Lender   hereunder  pursuant  to  Section  9.04)  hereby  (a) acknowledges  that  JPMCB  is  acting  under  the   Intercreditor  Agreement  as  the  “ABL  Representative”  (as  defined therein), and that JPMCB is   acting under the Intercreditor Agreement as the “Term Loan Representative” (as defined therein)   and JPMCB is or may be a Lender hereunder and/or a lender under the ABL Credit Agreement and   (b) waives any conflict of interest, now contemplated or arising hereafter, in connection therewith   and agrees not to assert against the Administrative Agent any claims, cause of action, damages or   liabilities of whatever kind or nature relating thereto.  Each Lender (and each Person that becomes   a  Lender  hereunder  pursuant  to  Section  9.04)  hereby  authorizes and  directs  the  Administrative   Agent  to  enter  into  the  Intercreditor  Agreement  on  behalf  of  such  Lender  and  agrees  that  the   Administrative Agent, in its various capacities thereunder, may take such actions on its behalf as is  contemplated by the terms of the Intercreditor Agreement.           SECTION 9.21.  No Advisory or Fiduciary Responsibility.  In connection with all aspects   of each transaction contemplated hereby (including in connection with any amendment, waiver or                                         118                                               

 

                                                                                                                                                               other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees   that: (i) (A) the arranging and other services regarding this Agreement provided by the Lenders are   arm’s-length commercial transactions between the Borrower and its Affiliates, on the one hand,   and the Lenders and their Affiliates, on the other hand, (B) the Borrower has consulted its own   legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the   Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of   the  transactions  contemplated  hereby  and  by  the  other  Loan  Documents;  (ii)  (A)  each  of  the   Lenders and their Affiliates is and has been acting solely as a principal and, except as expressly   agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor,  agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B) no Lender  or any of its Affiliates has any obligation to the Borrower or any of its Affiliates with respect to the  transactions contemplated hereby except, in the case of a Lender, those obligations expressly set  forth herein and in the other Loan Documents; and (iii) each of the Lenders and their respective  Affiliates may be engaged in a broad range of transactions that involve interests that differ from  those of the Borrower and its Affiliates, and no Lender or any of its Affiliates has any obligation to  disclose any of such interests to the Borrower or its Affiliates.  To the fullest extent permitted by  law,  the  Borrower  hereby  waives  and  releases  any  claims  that  it  may  have  against  each  of  the  Lenders and their Affiliates with respect to any breach or alleged breach of agency or fiduciary  duty in connection with any aspect of any transaction contemplated hereby.                                       ARTICLE X                                                                              Loan Guaranty                                        SECTION 10.01.  Guaranty.  Each Loan Guarantor (other than those that have delivered a   separate Guaranty) hereby agrees that it is jointly and severally liable for, and, as a primary obligor   and  not  merely  as  surety,  absolutely,  unconditionally  and irrevocably  guarantees  to  the  Secured   Parties, the prompt payment when due, whether at stated maturity, upon acceleration or otherwise,   and at all times thereafter, of the Secured Obligations and all reasonable, documented and out-of-  pocket costs and expenses, including, without limitation, all reasonable, documented and out-of-  pocket  court  costs  and  attorneys’  and  paralegals’  fees  and  expenses  paid  or  incurred  by  the   Administrative Agent, the Issuing Bank and the Lenders in endeavoring to collect all or any part of   the  Secured  Obligations  from,  or  in  prosecuting  any  action  against,  the  Borrower,  any  Loan   Guarantor  or  any  other  guarantor  of  all  or  any  part  of  the  Secured  Obligations  (such  costs  and   expenses,  together  with  the  Secured  Obligations,  collectively  the  “Guaranteed  Obligations”;   provided, however, that the definition of “Guaranteed Obligations” shall not create any guarantee   by  any  Loan  Guarantor  of  (or  grant  of  security  interest  by  any Loan  Guarantor  to  support,  as   applicable) any Excluded Swap Obligations of such Loan Guarantor for purposes of determining   any obligations of any Loan Guarantor).  Each Loan Guarantor further agrees that the Guaranteed   Obligations may be extended or renewed in whole or in part without notice to or further assent   from  it,  and  that  it  remains  bound  upon  its  guarantee  notwithstanding  any  such  extension  or   renewal.  All terms of this Loan Guaranty apply to and may be enforced by or on behalf of any   domestic or foreign branch or Affiliate of any Lender that extended any portion of the Guaranteed   Obligations.                                             119                                               

 

       SECTION 10.02.  Guaranty of Payment.  This Loan Guaranty is a guaranty of payment and   not of collection.  Each Loan Guarantor waives any right to require the Administrative Agent or any   Lender  to  sue  the  Borrower,  any  Loan  Guarantor,  any  other  guarantor  of,  or  any  other  Person   obligated  for,  all  or  any  part  of  the  Guaranteed  Obligations  (each,  an  “Obligated  Party”),  or   otherwise to enforce its payment against any collateral securing all or any part of the Guaranteed   Obligations.          SECTION  10.03.   No  Discharge  or  Diminishment  of  Loan  Guaranty.  (a) Except as   otherwise provided for herein, the obligations of each Loan Guarantor hereunder are unconditional   and absolute and not subject to any reduction, limitation, impairment or termination for any reason   (other than the indefeasible payment in full in cash of the Guaranteed Obligations), including:  (i)   any claim of waiver, release, extension, renewal, settlement, surrender, alteration or compromise   of  any  of  the  Guaranteed  Obligations,  by  operation  of  law  or  otherwise;  (ii)  any  change  in  the   corporate existence, structure or ownership of the Borrower or any other Obligated Party liable for  any  of  the  Guaranteed  Obligations;  (iii)  any  insolvency,  bankruptcy,  reorganization  or  other  similar  proceeding  affecting  any  Obligated  Party  or  their  assets  or  any  resulting  release  or  discharge of any obligation of any Obligated Party; or (iv) the existence of any claim, setoff or  other  rights  which  any  Loan  Guarantor  may  have  at  any  time  against  any  Obligated  Party,  the  Administrative Agent, any Lender or any other Person, whether in connection herewith or in any  unrelated transactions.           (b)    The obligations of each Loan Guarantor hereunder are not subject to any defense or setoff, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality  or  unenforceability  of  any  of  the  Guaranteed  Obligations  or  otherwise,  or  any  provision  of  applicable  law  or  regulation  purporting  to  prohibit  payment  by any  Obligated  Party,  of  the  Guaranteed Obligations or any part thereof.           (c)   Further,  the  obligations  of any  Loan  Guarantor  hereunder  are  not  discharged  or impaired  or  otherwise  affected  by:  (i)  the  failure  of  the  Administrative  Agent  or  any  Lender  to  assert  any  claim  or  demand  or  to  enforce  any  remedy  with  respect  to  all  or  any  part  of  the  Guaranteed Obligations; (ii) any waiver or modification of or supplement to any provision of any  agreement relating to the Guaranteed Obligations; (iii) any release, non-perfection or invalidity of  any  indirect  or  direct  security  for  the  obligations  of  the  Borrower for all or any part of the  Guaranteed  Obligations  or  any  obligations  of  any  other  Obligated  Party  liable  for  any  of  the   Guaranteed  Obligations;  (iv)  any  action  or  failure  to  act  by  the  Administrative  Agent  or  any   Lender with respect to any collateral securing any part of the Guaranteed Obligations; or (v) any   default,  failure  or  delay,  willful  or  otherwise,  in  the  payment  or  performance  of  any  of  the   Guaranteed  Obligations,  or  any  other  circumstance,  act,  omission  or  delay  that  might  in  any   manner or to any extent vary the risk of such Loan Guarantor or that would otherwise operate as a   discharge of any Loan Guarantor as a matter of law or equity (other than the indefeasible payment   in full in cash of the Guaranteed Obligations).            SECTION 10.04.  Defenses Waived.  To the fullest extent permitted by applicable law, each   Loan Guarantor hereby waives any defense based on or arising out of any defense of the Borrower or   any Loan Guarantor or the unenforceability of all or any part of the Guaranteed Obligations from any   cause, or the cessation from any cause of the liability of the Borrower, any Loan Guarantor or any   other  Obligated  Party,  other  than  the  indefeasible  payment  in  full  in  cash  of  the  Guaranteed                                         120  

 

 Obligations.  Without  limiting  the  generality  of  the  foregoing, each Loan  Guarantor  irrevocably   waives acceptance hereof, presentment, demand, protest and, to the fullest extent permitted by law,   any notice not provided for herein, as well as any requirement that at any time any action be taken by   any Person against any Obligated Party or any other Person.  Each Loan Guarantor confirms that it is   not  a  surety  under  any  state  law  and  shall  not  raise  any  such  law  as  a  defense  to  its  obligations   hereunder.  The Administrative Agent may, at its election, foreclose on any Collateral held by it by   one  or  more  judicial  or  nonjudicial  sales,  accept  an  assignment  of  any  such  Collateral  in  lieu  of   foreclosure or otherwise act or fail to act with respect to any collateral securing all or a part of the   Guaranteed  Obligations,  compromise  or  adjust  any  part  of  the  Guaranteed  Obligations,  make  any   other accommodation with any Obligated Party or exercise any other right or remedy available to it   against any  Obligated Party, without affecting or impairing in any way the liability of such Loan   Guarantor under this Loan Guaranty except to the extent the Guaranteed Obligations have been fully   and  indefeasibly  paid  in  cash.   To  the  fullest  extent  permitted  by  applicable  law,  each  Loan   Guarantor  waives  any  defense  arising  out  of  any  such  election  even  though  that  election  may   operate,  pursuant  to  applicable  law,  to  impair  or  extinguish  any  right  of  reimbursement  or   subrogation  or  other  right  or  remedy  of  any  Loan  Guarantor  against  any  Obligated  Party  or  any   security.          SECTION 10.05.  Rights of Subrogation.  No Loan Guarantor will assert any right, claim or   cause  of  action,  including,  without  limitation,  a  claim  of  subrogation,  contribution  or   indemnification, that it has against any Obligated Party or any collateral, until the Loan Parties and   the Loan Guarantors have fully performed all their obligations to the Administrative Agent and the  Lenders.          SECTION 10.06.  Reinstatement; Stay of Acceleration.  If at any time any payment of any   portion of the Guaranteed Obligations (including a payment effected through exercise of a right of   setoff) is rescinded, or must otherwise be restored or returned upon the insolvency, bankruptcy or   reorganization of the Borrower or otherwise (including pursuant to any settlement entered into by a  Secured Party in its discretion), each Loan Guarantor’s obligations under this Loan Guaranty with  respect to that payment shall be reinstated at such time as though the payment had not been made  and  whether  or  not  the  Administrative  Agent  and  the  Lenders  are  in  possession  of  this  Loan  Guaranty. If acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon  the insolvency, bankruptcy or reorganization of the Borrower, all such amounts otherwise subject to  acceleration  under  the  terms  of  any  agreement  relating  to  the  Guaranteed  Obligations  shall  nonetheless be payable by the Loan Guarantors forthwith on demand by the Administrative Agent.         SECTION 10.07.  Information.  Each Loan Guarantor assumes all responsibility for being   and  keeping  itself  informed  of the  Borrower’s  financial  condition  and  assets,  and  of  all  other  circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations and the nature,  scope and extent of the risks that each Loan Guarantor assumes and incurs under this Loan Guaranty,  and agrees that none of the Administrative Agent or any Lender shall have any duty to advise any   Loan Guarantor of information known to it regarding those circumstances or risks.          SECTION 10.08.  Termination.  Each of the Lenders may continue to make loans or extend   credit to the Borrower based on this Loan Guaranty until five (5) days after it receives written notice   of termination from any Loan Guarantor.  Notwithstanding receipt of any such notice, each Loan   Guarantor will continue to be liable to the Lenders for any Guaranteed Obligations created, assumed                                         121  

 

 or  committed  to  prior  to  the  fifth  day  after  receipt  of  the  notice, and  all  subsequent  renewals,   extensions,  modifications  and  amendments  with  respect  to,  or  substitutions  for,  all  or  any  part  of  such Guaranteed Obligations.  Nothing in this Section 10.08 shall be deemed to constitute a waiver  of, or eliminate, limit, reduce or otherwise impair any rights or remedies the Administrative Agent or  any Lender may have in respect of, any Default or Event of Default that shall exist under Article VII  hereof as a result of any such notice of termination.          SECTION 10.09.  [Reserved].            SECTION  10.10.   Maximum  Liability.   Notwithstanding  any  other  provision  of  this  Loan   Guaranty, the amount guaranteed by each Loan Guarantor hereunder shall be limited to the extent, if  any, required so that its obligations hereunder shall not be subject to avoidance under Section 548 of  the  Bankruptcy  Code  or  under  any applicable  state  Uniform  Fraudulent  Transfer  Act,  Uniform  Fraudulent Conveyance Act or similar statute or common law.  In determining the limitations, if any,  on the amount of any Loan Guarantor’s obligations hereunder pursuant to the preceding sentence, it is  the intention of the parties hereto that any rights of subrogation, indemnification or contribution which  such  Loan  Guarantor  may  have  under  this  Loan  Guaranty,  any  other  agreement  or  applicable  law  shall be taken into account.         SECTION 10.11.  Contribution.            (a)   To the  extent  that  any  Loan  Guarantor  shall  make  a  payment  under  this  Loan  Guaranty  (a  “Guarantor  Payment”)  which,  taking  into  account  all  other  Guarantor  Payments  then   previously or concurrently made by any other Loan Guarantor, exceeds the amount which otherwise   would have been paid by or attributable to such Loan Guarantor if each Loan Guarantor had paid the   aggregate  Guaranteed  Obligations satisfied  by such Guarantor Payment in the same  proportion as   such Loan Guarantor’s “Allocable Amount” (as defined below) (as determined immediately prior to   such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Loan Guarantors   as  determined  immediately  prior  to  the  making  of  such  Guarantor  Payment,  then,  following   indefeasible payment in full in cash of the Guarantor Payment and the Guaranteed Obligations (other   than  Unliquidated Obligations that  have  not yet  arisen), and  all Commitments have  terminated  or   expired  and this Agreement, the Swap Agreement Obligations and the Banking Services Obligations   have terminated, such Loan Guarantor shall be entitled to receive contribution and indemnification   payments from, and be reimbursed by, each other Loan Guarantor for the amount of such excess, pro   rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor   Payment.                (b)   As  of  any  date  of  determination,  the  “Allocable  Amount”  of  any Loan  Guarantor  shall  be  equal  to  the  excess  of  the  fair  saleable  value  of  the  property  of  such  Loan   Guarantor  over  the  total  liabilities  of  such  Loan  Guarantor  (including  the  maximum  amount   reasonably  expected  to  become  due  in  respect  of  contingent  liabilities,  calculated,  without   duplication, assuming each other Loan Guarantor that is also liable for such contingent liability pays   its ratable share thereof), giving effect to all payments made by other Loan Guarantors as of such   date in a manner to maximize the amount of such contributions.                (c)   This Section 10.11 is intended only to define the relative rights of the Loan  Guarantors, and nothing set forth in this Section 10.11 is intended to or shall impair the obligations                                          122  

 

 of the Loan Guarantors, jointly and severally, to pay any amounts  as  and  when  the  same  shall   become due and payable in accordance with the terms of this Loan Guaranty.                (d)   The  parties  hereto  acknowledge  that  the  rights  of  contribution and  indemnification hereunder shall constitute assets of the Loan Guarantor or Loan Guarantors to which  such contribution and indemnification is owing.               (e)   The  rights  of  the  indemnifying  Loan  Guarantors  against  other  Loan  Guarantors under this Section 10.11 shall be exercisable upon the full and indefeasible payment of   the Guaranteed Obligations in cash (other than Unliquidated Obligations that have not yet arisen)  and the termination or expiry, on terms reasonably acceptable to the Administrative Agent, of the  Commitments  extended  hereunder  and  the  termination  of  this  Agreement, the Swap Agreement  Obligations and the Banking Services Obligations.         SECTION  10.12.   Liability  Cumulative.   The  liability  of  each  Loan  Party  as  a  Loan   Guarantor under this Article X is in addition to and shall be cumulative with all liabilities of each   Loan Party to the Administrative Agent and the Lenders under this Agreement and the other Loan   Documents to which such Loan Party is a party or in respect of any obligations or liabilities of the   other  Loan  Parties,  without  any  limitation  as  to  amount,  unless  the  instrument  or  agreement   evidencing or creating such other liability specifically provides to the contrary.          SECTION 10.13.  Keepwell.   Each Qualified ECP Guarantor hereby jointly and severally   absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as   may be needed from time to time by each other Loan Party to honor all of its obligations under this  Guarantee in respect of a Swap Obligation (provided, however, that each Qualified ECP Guarantor  shall only be liable under this Section 10.13 for the maximum amount of such liability that can be  hereby incurred without rendering its obligations under this Section 10.13 or otherwise under this  Loan  Guaranty  voidable  under  applicable  law  relating  to  fraudulent  conveyance  or  fraudulent  transfer, and not for any greater amount).  Except as otherwise provided herein, the obligations of  each Qualified ECP Guarantor under this Section 10.13 shall remain in full force and effect until  the termination of all Swap Obligations.  Each Qualified ECP Guarantor intends that this Section  10.13  constitute,  and  this  Section  10.13  shall  be  deemed  to  constitute,  a  “keepwell,  support,  or  other  agreement”  for  the  benefit  of  each  other  Loan  Party  for  all  purposes  of  Section  1a(18)(A)(v)(II) of the Commodity Exchange Act.                                 (Signature Pages Follow)                                           123  

 

      IN  WITNESS  WHEREOF,  the  parties hereto  have  caused  this  Agreement  to  be  duly  executed and delivered by their respective authorized officers as of the day and year first above  written.                                        BORROWER:                                         GLOBAL BRASS AND COPPER, INC.,                                        By _________________________                                           Name:                                            Title:                                       OTHER LOAN PARTIES:                                       GLOBAL BRASS AND COPPER HOLDINGS,                                      INC., as Holdings and as a Guarantor                                       By _________________________                                           Name:                                            Title:                                       CHASE BRASS AND COPPER COMPANY, LLC                                      GBC METALS, LLC                                      A.J. OSTER, LLC                                      A.J. OSTER FOILS, LLC                                      A.J. OSTER CARIBE, LLC                                      A.J. OSTER WEST, LLC, each as a Guarantor                                       By  _________________________                                            Name:                                            Title:                 Signature Page to Global Brass Term Loan Credit Agreement  

 

                                                                                                                                                   JPMORGAN CHASE BANK, N.A., individually as a                       Lender and as Administrative Agent                                                                     By  _________________________                             Name:                             Title:                   Signature Page to Global Brass Term Loan Credit Agreement  

 

                     COMMITMENT SCHEDULE               Lender                  Commitment   JPMorgan Chase Bank, N.A.            $320,000,000               Total                   $320,000,000  

 

                                                                             Exhibit B                                         EXHIBIT B                               LIST OF CLOSING DOCUMENTS                             GLOBAL BRASS AND COPPER, INC.           AMENDMENT NO. 2 TO SENIOR SECURED TERM LOAN CREDIT FACILITY                                        May 29, 2018                               LIST OF CLOSING DOCUMENTS1                            A.     PRIMARY LOAN DOCUMENTS  1.    Amendment No. 2 to Term Loan Credit Agreement (the “Amendment”) by and among Global       Brass  and  Copper,  Inc.,  a  Delaware  corporation  (the  “Borrower”),  Global  Brass  and Copper       Holdings,  Inc.,  a  Delaware  corporation  (“Holdings”),  the  other loan  parties  party  thereto  (the       “Loan  Guarantors”,  collectively  with  the  Borrower  and  Holdings,  the  “Loan  Parties”), and       JPMorgan  Chase  Bank,  N.A.,  in  its  capacity  as  Administrative  Agent  for  itself  and  the other       Lenders (the “Administrative Agent”) to Term Loan Credit Agreement dated as of July 18, 2016,       by  and  among,  the  Borrower,  Holdings,  the  Loan  Guarantors  party  thereto,  the  Lenders  party       thereto and the Administrative Agent (as amended, restated, supplemented or otherwise modified       from time to time prior to the date hereof, the “Existing Credit Agreement”, and as amended by       the Amendment, the “Credit Agreement”). All capitalized terms used herein without definition       shall have the same meanings as set forth in the below-defined Credit Agreement.                                         EXHIBITS          Exhibit A           --  Amendments to Credit Agreement         Exhibit B           --  List of Closing Documents               B.     UCC AND OTHER COLLATERAL-RELATED DELIVERIES  2.     UCC, tax lien and name variation search reports naming each Loan Party from the appropriate       offices in relevant jurisdictions.  3.     Intellectual property search reports naming each Loan Party in each of the U.S. Copyright Office       and U.S. Patent and Trademark Office.                            C.     CORPORATE DOCUMENTS  4.    Certificate of the Secretary or an Assistant Secretary of each Loan Party certifying (i) that       there have been no changes in the Certificate of Incorporation or other charter document of       such Loan Party, as attached thereto and as certified as of a recent date by the Secretary of       State (or analogous governmental entity) of the jurisdiction of its organization, since the date  1 Items in bold and italics denote items to be prepared by Borrower. Each capitalized term used herein and not  defined herein shall have the meaning assigned to such term in the above-defined Credit Agreement.  

 

         of the certification thereof by such governmental entity, (ii) the By-Laws or other applicable        organizational document, as attached thereto, of such Loan Party as in effect on the date of        such certification, (iii) resolutions of the Board of Directors or other governing body of such        Loan Party authorizing the execution, delivery and performance of each Loan Document to        which it is a party, and (iv) the names and true signatures of the incumbent officers of each        Loan Party authorized to sign the Loan Documents to which it is a party, and (in the case of        each Borrower) authorized to request a Borrowing or the issuance of a Letter of Credit under        the Credit Agreement.   5.    Good Standing Certificate (or analogous documentation if applicable) for each Loan Party        from the Secretary of State (or analogous governmental entity) of the jurisdiction of its        organization, to the extent generally available in such jurisdiction.                                      D. OPINIONS   6.    Opinion of Winston & Strawn LLP, counsel for the Loan Parties.Exhibit

Exhibit 10.1

AMENDMENT TO EMPLOYMENT AGREEMENT

    
This AMENDMENT TO EMPLOYMENT AGREEMENT is entered into this 16th day of July, 2018, between CNO Services, LLC (the “Company”) and Bruce K. Baude (“Executive”).

Recitals

A.The Company and Executive entered into an Amended and Restated Employment Agreement dated as of January 6, 2015 and Amendments to Employment Agreement dated as of July 30, 2015 and August 11, 2017 (collectively, the “Agreement”).

B.The Company and Executive desire to further amend the Agreement to extend its Term (as defined in the Agreement) and to make the other changes set forth herein. 
    
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants contained herein, the receipt and sufficiency of which are hereby acknowledged:

		
	1.
	Section 2 of the Agreement is hereby amended solely to change the ending date of the Term from July 31, 2018 to July 31, 2019.  All other provisions of Section 2 of the Agreement shall remain unchanged.  

		
	2.
	Section 5(b) of the Agreement is hereby amended solely to change “2018 bonus” in the penultimate sentence to “2019 bonus.”  All other provisions of Section 5(b) of the Agreement shall remain unchanged.

		
	3.
	All provisions of the Agreement not amended hereby shall remain in full force and effect.

IN WITNESS WHEREOF, the parties have executed this Amendment to Employment Agreement as of the date first above written.

	
	
	CNO SERVICES, LLC

	 

	/s/ Gary C. Bhojwani

	Gary C. Bhojwani

	President

	 

	 

	 

	/s/ Bruce K. Baude

	Bruce K. Baude

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