Document:

STE 12.31.2011 EX10.2

Exhibit 10.2

November 4, 2011
STERIS Corporation
5960 Heisley Road
Mentor, Ohio 44060
Attention: Vice President and Corporate Treasurer
Re:    Transfer and Advised Line for Letters of Credit
Ladies and Gentlemen:
Reference is made to that certain Second Amended and Restated Credit Agreement dated as of September 13, 2007 (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement") among STERIS Corporation (the "Borrower"), Bank of America, N.A., as L/C Issuer (in such capacity, the "L/C Issuer"), the various financial institutions from time to time party thereto (the "Lenders") and Key Bank National Association, as administrative agent (in such capacity, the "Administrative Agent") thereunder. Reference also is made to that certain letter agreement dated July 14, 2011 between Bank of America, N.A. ("Bank of America") and Borrower (the "July Agreement").

The letters of credit listed on Schedule 1 hereto (collectively, the "Existing Letters of Credit" and individually, an "Existing Letter of Credit"), were either (i) originally issued by Bank of America on a standalone basis, (ii) originally issued by the L/C Issuer under the Credit Agreement and previously transferred to Bank of America on a standalone basis, or (iii) issued under the Credit Agreement and remain outstanding under the Credit Agreement.
1.    Transfer of November Transfer Letters of Credit.
This letter will confirm the agreement of the Borrower and Bank of America to transfer, as of November 4, 2011 (the "November Transfer Date"), the Existing Letters of Credit listed on Schedule 1 as November Transfer Letters of Credit (the "November Transfer Letters of Credit") from the Credit Agreement to Bank of America as a letter of credit issued by Bank of America on a standalone basis with no further recourse or reference to lenders under the Credit Agreement.
Each November Transfer Letter of Credit shall remain outstanding in its current form. From and after the November Transfer Date, Bank of America and the Borrower agree that the rights and obligations of the Borrower and Bank of America with respect to each November Transfer Letter of Credit shall be governed by the Application and Agreement pursuant to which it was originally issued without reference to the Credit Agreement, and the Borrower agrees to pay all accrued fees owing to the L/C Issuer under the Credit Agreement in respect of each such November Transfer Letter of Credit through the day immediately preceding the November Transfer Date. Such fees shall be paid as soon as reasonably possible after Borrower's receipt of proper invoice therefor, but no later than 30 days after receipt of such proper invoice.
This letter also will confirm the agreement of Borrower and Bank of America that each of the Existing 

Letters of Credit not constituting a November Transfer Letter of Credit shall continue to be treated as letters of credit issued by Bank of America on a standalone basis and governed by the Application and Agreement pursuant to which it was originally issued.
2.    Advised Line for Additional Letters of Credit. 
            Bank of America agrees to consider requests from time to time from the Borrower to issue additional standby letters of credit for the account of the Borrower and to extend Existing Letters of  Credit (each new letter of credit and the Existing Letters of Credit, a "Letter of Credit"); provided that the aggregate face amount of all outstanding Letters of Credit shall not exceed $35,000,000 at any time. Each issuance or extension of a Letter of Credit shall be in Bank of America's sole discretion, and Bank of America shall not be obligated to issue or extend any Letters of Credit. This letter is not a commitment by Bank of America to issue letters of credit.
Each new Letter of Credit shall be issued pursuant to Bank of America's standard form Application and Agreement then in effect. In the event of a conflict between the terms of any Application and Agreement pursuant to which a Letter of Credit has been issued and this letter, this letter shall prevail.
No Letter of Credit shall terminate later than two years from the date of its issuance or last renewal; provided, however, that Letters of Credit having a face amount not exceeding $3,000,000 in the aggregate at any time outstanding may terminate not later than five years from the date of their respective issuance or last renewal.
The Borrower agrees to pay to Bank of America fees and commissions with respect to the Letters of Credit as set forth in a separate fee letter dated as of even date herewith.
Bank of America shall have the right at any time, on demand and in its sole discretion, to require that the Borrower (i) cash collateralize undrawn Letters of Credit pursuant to documentation in form and substance reasonably satisfactory to Bank of America or (ii) provide another form of support, satisfactory to Bank of America with respect to undrawn Letters of Credit.
This letter amends and restates and supersedes the July Agreement between the parties regarding this subject.
Please signify your agreement to the foregoing by signing this letter where indicated below and returning a copy to me. This letter may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute but one and the same instrument. This letter shall not become effective until signed by all the parties indicated below and an executed counterpart thereof is delivered to Bank of America.  Promptly upon receipt of same Bank of America will deliver a copy or original of all executed counterparts to Borrower.
Sincerely,
BANK OF AMERICA, N.A., individually 
and as L/C Issue
     By:   /s/ Yinghua Zhang
Name: Yinghua Zhang
Title: Vice President

Agreed and Accepted: STERIS CORPORATION
By:  /s/ William L. Aamoth    
Name: William L. Aamoth
Title:  Vice President and Corporate Treasurerex10-1120207.htm

Exhibit 10.1

 

INCREMENTAL COMMITMENT AGREEMENT

 

Deutsche Bank Trust Company Americas

 

Flagstar Bank, FSB

 

February 7, 2012

 

ACCURIDE CORPORATION

P.O. Box 15600

7140 Office Circle

Evansville, IN 47716

Attention:  Greg Risch

Vice President and Interim Chief Financial Officer

Re:  Incremental Commitments

 

Ladies and Gentlemen:

 

Reference is hereby made to the ABL Credit Agreement, dated as of July 29, 2010, among Accuride Corporation (“Borrower”), each U.S. Subsidiary of the Borrower set forth on the signature pages thereto (together with the Borrower and any other entity that becomes a Co-Borrower pursuant to a joinder agreement, collectively, the “Co-Borrowers” and each, a “Co-Borrower”), the lenders from time to time party thereto (the “Lenders”), Deutsche Bank Securities Inc. (“DBSI”) and Credit Suisse Securities (USA) LLC (“Credit Suisse”) as joint lead arrangers and joint book runners (in such capacity, the “Lead Arrangers”) for the Lender Parties, Deutsche Bank Trust Company Americas (“DBTCA”), as administrative agent and security agent for the Secured Parties (in such capacity, the “Administrative Agent”), DBTCA, SunTrust Bank and Wells Fargo Capital Finance, LLC as co-collateral agents (in such capacity, collectively the “Co-Collateral Agents” and each a “Co-Collateral Agent”), Credit Suisse, as syndication agent (in such capacity, the “Syndication Agent”), SunTrust Bank and Wells Fargo Capital Finance, LLC as co-documentation agents (in such capacity, collectively the “Co-Documentation Agents” and each a “Co-Documentation Agent”) (as amended, restated, modified or supplemented from time to time, the “Credit Agreement”). Unless otherwise defined herein, capitalized terms used herein shall have the respective meanings set forth in the Credit Agreement.

 

Each lender (each an “Incremental Lender”) party to this letter agreement (this “Agreement”) hereby severally agrees to provide the Incremental Commitment set forth opposite its name on Annex I attached hereto (for each such Incremental Lender, its “Incremental Commitment”).  Each Incremental Commitment provided pursuant to this Agreement shall be subject to all of the terms and conditions set forth in the Credit Agreement, including, without limitation, Section 2.16 thereof.

 

Each Incremental Lender, the Funds Administrator, each Co-Borrower and the Administrative Agent acknowledge and agree that the Incremental Commitments provided pursuant to this Agreement shall constitute Incremental Commitments and, upon the Agreement Effective Date (as hereinafter defined), the Incremental Commitment of each Incremental Lender shall become, or in the case of an existing Lender, shall be added to (and thereafter become a part of), the Commitment of such Incremental Lender.  Each Incremental Lender, each Co-Borrower and the Administrative Agent further agree that, with respect to the Incremental Commitment provided by each Incremental Lender pursuant to this Agreement, such Incremental Lender shall receive from the Borrower an incremental lender fee equal to 0.25% of the aggregate principal amount of such Incremental Lender's Incremental Commitment, all of which fee shall be due and payable to such Incremental Lender on the Incremental Commitment Date.

  

  

  

Furthermore, each of the parties to this Agreement hereby agrees to the terms and conditions set forth on Annex I hereto in respect of each Incremental Commitment provided pursuant to this Agreement.

 

Each Incremental Lender party to this Agreement, to the extent not already a party to the Credit Agreement as a Lender thereunder, (i) confirms that it is an Eligible Assignee, (ii) confirms that it has received a copy of the Credit Agreement and the other Loan Documents (including the Intercreditor Agreement), together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement and to become a Lender under the Credit Agreement, (iii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement and the other Loan Documents, (iv) appoints and authorizes the Administrative Agent and the Security Agent to take such actions as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent and the Security Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto, (v) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement and the other Loan Documents are required to be performed by it as a Lender, and (vi) in the case of each Incremental Lender organized under the laws of a jurisdiction outside the United States, attaches the forms and/or certificate referred to in the first sentence of Section 2.12(e) of the Credit Agreement.

 

Upon the date of (i) the execution of a counterpart of this Agreement by each Incremental Lender, the Administrative Agent and each Co-Borrower, (ii) the delivery to the Administrative Agent of a fully executed counterpart (including by way of facsimile or other electronic transmission) hereof, (iii) the delivery to the Administrative Agent of an opinion of Latham & Watkins LLP, counsel to the respective Loan Parties, and internal counsel of the Borrower, each as required pursuant to clause (iv) of the definition of “Incremental Commitment Requirements” appearing in Section 1.01 of the Credit Agreement, (iv) the delivery to the Administrative Agent of officers’ certificates, board of director (or equivalent) resolutions and good standing certificates of the Loan Parties required to be delivered pursuant to clause (v) of the definition of “Incremental Commitment Requirements” appearing in Section 1.01 of the Credit Agreement, (v) the delivery to the Administrative Agent of the officer’s certificate of the Borrower required to be delivered pursuant to clause (vii) of the definition of “Incremental Commitment Requirements” appearing in Section 1.01 of the Credit Agreement, (vi) the payment of any fees then due and payable in connection herewith and (vii) the satisfaction of any other conditions precedent set forth in Section 3 of Annex I hereto (such date, the “Agreement Effective Date”), each Incremental Lender party hereto (x) shall be obligated to make the Revolving Advances provided to be made by it as provided in this Agreement and participate in the Letters of Credit and Swingline Advances, in each case, on the terms, and subject to the conditions, set forth in the Credit Agreement and in this Agreement and (y) to the extent provided in this Agreement, shall have the rights and obligations of a Lender thereunder and under the other applicable Loan Documents.

 

  

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Each Co-Borrower acknowledges and agrees that (i) it shall be jointly and severally liable for all Obligations with respect to the Incremental Commitments provided hereby as provided in the Credit Agreement including, without limitation, all Revolving Advances made pursuant thereto, and (ii) all such Obligations (including all such Revolving Advances) shall be entitled to the benefits of the respective Collateral Documents and guaranties in accordance with the requirements of the Credit Agreement.  Each Co-Borrower acknowledges and agrees that all Obligations with respect to the Incremental Commitments provided hereby and all Revolving Advances made pursu­ant thereto shall (i) be fully guaranteed pursuant to the Guarantee and Collateral Agreement as, and to the extent, provided therein and in the Credit Agreement and (ii) be entitled to the benefits of the Loan Documents as, and to the extent, provided therein and in the Credit Agreement.

 

You may accept this Agreement by signing the enclosed copies in the space provided below, and returning one copy of same to us before the close of business on February 7, 2012.  If you do not so accept this Agreement by such time, our Incremental Commitments set forth in this Agreement shall be deemed canceled.

 

After the execution and delivery to the Administrative Agent of a fully executed copy of this Agreement (including by way of counterparts and by facsimile or other electronic transmission) by the parties hereto, this Agreement may only be changed, modified or varied by written instrument in accordance with the requirements for the modification of Loan Documents pursuant to Section 11.01 of the Credit Agreement.

 

In the event of any conflict between the terms of this Agreement and those of the Credit Agreement, the terms of the Credit Agreement shall control.

 

*         *         *

 

 

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THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

 

	  	
Very truly yours

	  	  
	  	
DEUTSCHE BANK TRUST COMPANY

AMERICAS, as Incremental Lender

	  	  
	
            

	
By  / s / Omayra Laucella

	  	
Name:  Omayra Laucella

	  	
Title:  Vice President

	  	  
	  	  
	
 

	
By  / s / Evelyn Thierry

	  	
Name:  Evelyn Thierry

	  	
Title:  Director

	  	  
	  	  
	  	
FLAGSTAR BANK, FSB, as Incremental Lender

	  	  
	
 

	
By  /s/ Willard R. Dickinson, Jr.

	  	
Name:  Willard R. Dickinson, Jr.

	  	
Title:  Senior Vice President

Agreed and Accepted

this 7th day of February, 2012:

 

 

ACCURIDE CORPORATION

 

 

By: /s /Richard F. Dauch

Name: Richard F. Dauch

Title: President

 

 

DEUTSCHE BANK TRUST COMPANY AMERICAS,

      as Administrative Agent

 

By:   /s/ Omayra Laucella

      Name: Omayra Laucella

      Title: Vice President

By:   /s/ Evelyn Thierry

      Name: Evelyn Thierry

      Title: Director

 

 

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Each Co-Borrower acknowledges and agrees to each of the foregoing provisions of this Incremental Commitment Agreement and to the incurrence of the Revolving Advances to be made pursuant thereto.

ACCURIDE CUYAHOGA FALLS, INC.

ACCURIDE DISTRIBUTING, LLC

ACCURIDE EMI, LLC

AOT INC.

ERIE LAND HOLDING, INC.

BOSTROM HOLDINGS, INC.

BOSTROM SEATING, INC.

BOSTROM SPECIALTY SEATING, INC.

BRILLION IRON WORKS, INC.

GUNITE CORPORATION

IMPERIAL GROUP HOLDING CORP. - 1

IMPERIAL GROUP HOLDING CORP. - 2

JAII MANAGEMENT COMPANY

TRANSPORTATION TECHNOLOGIES

INDUSTRIES, INC.

TRUCK COMPONENTS INC.,

each as a Co-Borrower

 

 

By: Richard F. Dauch

      Name:  Richard F. Dauch

Title: President

 

 

 

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ACCURIDE ERIE L.P.,

as a Co-Borrower

By: AKW GENERAL PARTNER L.L.C.,

as General Partner

By: ACCURIDE CORPORATION,

as Sole Member

By: /s/ Richard F. Dauch               

Name: Richard F. Dauch

Title: President

ACCURIDE HENDERSON LIMITED

LIABILITY COMPANY

AKW GENERAL PARTNER L.L.C.,

each as a Co-Borrower

By: ACCURIDE CORPORATION,

as Sole Member

By: /s/ Richard F. Dauch               

Name: Richard F. Dauch

Title: President

IMPERIAL GROUP, L.P.,

as a Co-Borrower

By: IMPERIAL GROUP HOLDING

            CORP. –1, its General Partner

By: /s/ Richard F. Dauch               

Name: Richard F. Dauch

Title: President

 

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TERMS AND CONDITIONS FOR INCREMENTAL COMMITMENT AGREEMENT

 

Dated as of February 7, 2012

 

	
1.  

	
    Names of the Co-Borrowers:

 

ACCURIDE CORPORATION

ACCURIDE CUYAHOGA FALLS, INC.

ACCURIDE DISTRIBUTING, LLC

ACCURIDE EMI, LLC

ACCURIDE ERIE L.P.

ACCURIDE HENDERSON LIMITED LIABILITY COMPANY

AKW GENERAL PARTNER L.L.C.

AOT INC.

ERIE LAND HOLDING, INC.

BOSTROM HOLDINGS, INC.

BOSTROM SEATING, INC.

BOSTROM SPECIALTY SEATING, INC.

BRILLION IRON WORKS, INC.

GUNITE CORPORATION

IMPERIAL GROUP HOLDING CORP. - 1

IMPERIAL GROUP HOLDING CORP. - 2

IMPERIAL GROUP, L.P.

JAII MANAGEMENT COMPANY

TRANSPORTATION TECHNOLOGIES INDUSTRIES, INC.

TRUCK COMPONENTS INC.

	
2.

	
Incremental Commitment Amounts (as of the Agreement Effective Date):

 

	
Names of Incremental Lenders

	
Amount of Incremental Commitment

	
Deutsche Bank Trust Company Americas

	
$5,000,000

	
Flagstar Bank, FSB

	
$20,000,000

	
Total:

	
$25,000,000

 

	
3.

	
Other Conditions Precedent:

 

As set forth in the definition of “Incremental Commitment Requirements” and Sections 2.16 and 3.02 of the Credit Agreement.

 

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