Document:

Exhibit
10.12.2

 

DECRANE AIRCRAFT
HOLDINGS, INC.

 

SECOND AMENDMENT

TO CREDIT AGREEMENT

 

This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”)
is dated as of July 16, 2004 and entered into by and among DeCrane Aircraft
Holdings, Inc., a Delaware corporation (“Company”), the financial institutions
listed on the signature pages hereof (“Lenders”), Credit Suisse First Boston
(successor to DLJ Capital Funding, Inc.), acting through its Cayman Islands
Branch, as syndication agent for Lenders (in such capacity, “Syndication
Agent”) and as administrative agent for Lenders (in such capacity, “Administrative
Agent”), and is made with reference to that certain Credit
Agreement, dated as of December 22, 2003, as amended by a First Amendment to
Credit Agreement dated as of June9, 2004 (the “Credit Agreement”), by and
among Company, the lenders listed on the signature pages thereof, Syndication
Agent and Administrative Agent. 
Capitalized terms used herein without definition shall have the same
meanings herein as set forth in the Credit Agreement.

 

RECITALS

 

WHEREAS, Company desires to issue
the Senior Notes in connection with the Senior Note Exchange and enter into the
Senior Note Indenture as permitted by subsection 6.1(xii) of the Credit
Agreement;

 

WHEREAS, the proposed form of
Senior Note Indenture permits redemption of the Senior Notes at the option of
Company;

 

WHEREAS, Company and Lenders desire
to amend the Credit Agreement to prohibit optional redemption, optional
prepayment or optional purchase of the Senior Notes;

 

WHEREAS, Company may issue the
Senior Notes only if, among other things, Syndication Agent has determined that
the terms and conditions of the Senior Notes, the Senior Note Indenture and the
documentation evidencing the Senior Note Exchange are satisfactory;

 

WHEREAS, Syndication Agent has
decided to make such determination only upon request by Requisite Lenders, as
provided in subsection 8.2B of the Credit Agreement.

 

NOW,
THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as follows:

 

Section 1. 
AMENDMENTS TO THE CREDIT AGREEMENT

 

Section 6 of the Credit Agreement is hereby amended by adding the
following as subsection 6.16:

 

 

“6.16      Prepayments
of Senior Notes.

 

Company shall not, and shall not permit any of its Subsidiaries to,
make any optional redemption or optional purchase of, optional prepayment with
respect to, the Senior Notes.”

 

Section 2.  CONSENT

 

Lenders, constituting Requisite Lenders, hereby determine that the
terms and conditions of the Senior Notes, the Senior Note Indenture attached
hereto as Exhibit A and the documentation evidencing the Senior Note
Exchange attached hereto as Exhibit B are satisfactory in form and
substance, and request Syndication Agent to indicate its satisfaction with such
terms and conditions to Company.

 

Section 3. 
CONDITIONS TO EFFECTIVENESS

 

A.            Section 1 and
Section 2 of this Amendment shall become effective only upon the satisfaction
of all of the following conditions (the date of satisfaction of such conditions
being referred to herein as the “Second Amendment Effective Date”):

 

1.             On or before the
Second Amendment Effective Date, Company shall deliver to Lenders (or to
Syndication Agent for Lenders with sufficient originally executed copies, where
appropriate, for each Lender and its counsel) the following, each, unless
otherwise noted, dated the Second Amendment Effective Date:

 

(a)           an amendment to the
First Lien Credit Agreement to the effect that prepayment of the Senior Notes
issued pursuant to the Senior Note Indenture is prohibited pursuant to the
terms of such agreement;

 

(b)           Signature and
incumbency certificates of its officers executing this Amendment; and

 

(c)           Executed originals
of this Amendment, executed by Parent, Company and each Subsidiary Guarantor.

 

2.             Executed originals
of this Amendment executed by Requisite Lenders.

 

Section 4. 
COMPANY’S REPRESENTATIONS AND WARRANTIES

 

In order to induce Lenders to enter into this Amendment and to amend
the Credit Agreement in the manner provided herein, Company represents and
warrants to each Lender that the following statements are true, correct and
complete on and as of the Second Amendment Effective Date:

 

A.            Corporate Power
and Authority.  Each of Company and
its Subsidiaries has all requisite corporate power and authority to enter into
this Amendment to carry out the transactions contemplated by, and perform its
obligations under, the Credit Agreement as amended by this Amendment (the “Amended
Agreement”).

 

2

 

 

B.            Authorization of
Agreement.  The execution and
delivery of this Amendment and the performance of the Amended Agreement have
been duly authorized by all necessary corporate action on the part of each of
Company and its Subsidiaries.

 

C.            No Conflict.  The execution, delivery and performance by
each of Company and each of its Subsidiaries of this Amendment, and the
performance by Company of the Amended Agreement do not and will not
(i) violate any provision of (x) any law or any governmental rule or
regulation applicable to Company or any of its Subsidiaries where such
violations in the aggregate have had or could reasonably be expected to have a
Material Adverse Effect, (y) the Certificate or the Articles of Incorporation
or Bylaws (or any other organization document) of Parent, Company or any of
Company’s Subsidiaries or (z) any order, judgment or decree of any court or
other agency of government binding on Company or any of Company’s Subsidiaries
where such violations in the aggregate have had or could reasonably be expected
to have a Material Adverse Effect, (ii) conflict with, result in a breach
of or constitute a default under any Contractual Obligation of Parent, Company
or any of its Subsidiaries where such conflict, breach or default in the
aggregate have had or could reasonably be expected to have a Material Adverse
Effect, (iii) result in or require the creation or imposition of any Lien
upon any of the properties or assets of Company or any of Company’s
Subsidiaries (other than Liens created under any of the Loan Documents in favor
of Administrative Agent on behalf of Lenders), or (iv) require any
approval of or consent of any Person under any Contractual Obligation of
Parent, Company or any of Company’s Subsidiaries, except for this Amendment and
such approvals or consents the failure of which to obtain has not had and could
not reasonably be expected to have a Material Adverse Effect.

 

D.            Governmental
Consents.  The execution, delivery
and performance by each of Company and each of its Subsidiaries of this
Amendment and the performance by Company of the Amended Agreement do not and
will not require any registration with, consent or approval of, or notice to,
or other action to, with or by, any federal, state or other governmental
authority or regulatory body other than any such registrations, consents,
approvals, notices or other actions (x) that have been made, obtained or
taken on or prior to the date on which such registrations, consents, approvals,
notices or other actions are required to be made, obtained or taken, as the
case may be, and are in full force and effect or (y) the failure of which
to make, obtain or take has not had and could not reasonably be expected to
have a Material Adverse Effect.

 

E.             Binding
Obligation.  This Amendment has been
duly executed and delivered by each Loan Party that is a party thereto and is
the legally valid and binding obligation of such Loan Party, enforceable
against such Loan Party in accordance with its respective terms, subject to
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
other similar laws relating to or affecting creditors’ rights generally,
general equitable principles (whether considered in a proceeding in equity or
at law) and an implied covenant of good faith and fair dealing.

 

F.             Incorporation of
Representations and Warranties From Credit Agreement.  The representations and warranties contained
in Section 4 of the Credit Agreement are and will be true, correct and
complete in all material respects on and as of the

 

3

 

Second
Amendment Effective Date to the same extent as though made on and as of that
date, except to the extent such representations and warranties specifically
relate to an earlier date, in which case they were true, correct and complete
in all material respects on and as of such earlier date.

 

G.            Absence of
Default.  No event has occurred and
is continuing or will result from the consummation of the transactions
contemplated by this Amendment that would constitute an Event of Default or a
Potential Event of Default.

 

Section 5. 
ACKNOWLEDGEMENT AND CONSENT

 

Each of Parent and the Subsidiary Guarantors (each a “Guarantor”) is a party to a Guaranty and
each such Guarantor has guarantied the Obligations.

 

Each Guarantor hereby acknowledges that it has reviewed the terms and
provisions of the Credit Agreement and this Amendment and consents to the
amendment of the Credit Agreement effected pursuant to this Amendment.  Each Guarantor hereby confirms that the
Guaranty to which it is a party or otherwise bound will continue to guaranty to
the fullest extent possible the payment and performance of all “Guarantied
Obligations” as such term is defined in the applicable Guaranty, including
without limitation the payment and performance of all such “Guarantied
Obligations” in respect of the Obligations of Company now or hereafter existing
under or in respect of the Amended Agreement.

 

Each Guarantor (a) acknowledges and agrees that the Guaranty to which
it is a party or otherwise bound shall continue in full force and effect and
that all of its obligations thereunder shall be valid and enforceable and shall
not be impaired or limited by the execution or effectiveness of this Amendment;  (b) represents and warrants that all
representations and warranties contained in the Amended Agreement and in the
Guaranty to which it is a party or otherwise bound are true, correct and
complete in all material respects on and as of the Second Amendment Effective
Date to the same extent as though made on and as of that date, except to the
extent such representations and warranties specifically relate to an earlier
date, in which case they were true, correct and complete in all material
respects on and as of such earlier date; and (c) acknowledges and agrees that
(i) notwithstanding the conditions to effectiveness set forth in this
Amendment, such Guarantor is not required by the terms of the Credit Agreement
or any other Loan Document to consent to the amendments to the Credit Agreement
effected pursuant to this Amendment and (ii) nothing in the Credit
Agreement, this Amendment or any other Loan Document shall be deemed to require
the consent of such Guarantor to any future amendments to the Credit Agreement.

 

Section 6. 
MISCELLANEOUS

 

A.            Effect of
Amendment.

 

(i)            On and after the
Second Amendment Effective Date, each reference in the Credit Agreement to
“this Agreement”, “hereunder”, “hereof”, “herein” or words of like import
referring to the Credit Agreement, and each reference in the other Loan
Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like
import referring to the Credit Agreement shall mean and be a reference to the
Amended Agreements.

 

4

 

(ii)           On and after the
Second Amendment Effective Date, each reference in the other Loan Documents to
the “Lenders,” “Commitments,” or words of like import shall mean and be a
reference to the Lenders and Commitments as amended by this Agreement.

 

(iii)          Except as
specifically amended by this Amendment, the Credit Agreement and the other Loan
Documents shall remain in full force and effect and are hereby ratified and
confirmed.

 

(iv)          The execution,
delivery and performance of this Amendment shall not, except as expressly
provided herein, constitute a waiver of any provision of, or operate as a
waiver of any right, power or remedy of Agents or any Lender under, the Credit
Agreement or any of the other Loan Documents.

 

B.            Fees and Expenses.  Company acknowledges that all costs, fees
and expenses as described in subsection 9.2 of the Credit Agreement incurred by
Agents and their counsel with respect to this Amendment and the documents and
transactions contemplated hereby shall be for the account of Company.

 

C.            Headings.  Section and subsection 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 or be given any
substantive effect.

 

D.            Applicable Law.  THIS AMENDMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF
NEW YORK (INCLUDING WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS
PRINCIPLES.

 

E.             Counterparts;
Effectiveness.  This Amendment may
be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed and delivered shall be
deemed an original, but all such counterparts together shall constitute but one
and the same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature pages
are physically attached to the same document. 
This Amendment shall become effective upon the execution of a
counterpart hereof by Company, Requisite Lenders and Guarantors and receipt by
Company and Agents of written or telephonic notification of such execution and
authorization of delivery thereof.

 

5

 

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

 

	
   

  	
  DECRANE AIRCRAFT HOLDINGS, INC.,
  

  a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AUDIO INTERNATIONAL, INC.,
  an 

  Arkansas corporation (for purposes of Section 5 

  only) as a Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name: 

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CARL F. BOOTH & CO., LLC,
  a Delaware 

  limited liability company (for purposes of 

  Section 5 only) as a Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CUSTOM WOODWORK & PLASTICS, 

  LLC., a Delaware limited liability company (for 

  purposes of Section 5 only) as a Subsidiary 

  Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  

 

S-1

 

	
   

  	
  DAH-IP HOLDINGS, INC.,
  a Delaware

  corporation (for purposes of Section 5 only) as a

  Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DAH-IP INFINITY, INC.,
  a Delaware 

  corporation (for purposes of Section 5 only) as a 

  Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DECRANE AIRCRAFT SEATING 

  COMPANY, INC., a Wisconsin corporation 

  (for purposes of Section 5 only) as a Subsidiary 

  Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DECRANE CABIN INTERIORS, LLC,
  a 

  Delaware limited liability company (for 

  purposes of Section 5 only) as a Subsidiary 

  Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ R. JACK DECRANE

  
	
   

  	
   

  	
  Name:

  	
   R. Jack
  DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  

 

S-2

 

	
   

  	
  DECRANE CABIN INTERIORS CANADA, 

  INC., a Delaware corporation (for purposes 

  of Section 5 only) as a Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ R. Jack DeCrane

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title: 

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
  HOLLINGSEAD INTERNATIONAL, INC.,
  a California corporation (for purposes of Section 5 only) as a Subsidiary
  Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ R. Jack DeCrane

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title: 

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PATS AIRCRAFT, LLC,
  a Delaware limited liability company (for purposes of Section 5 only) as a
  Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ R. Jack DeCrane

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PCI NEWCO., INC., a Kansas corporation (for 

  purposes of Section 5 only) as a Subsidiary

  Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ R. Jack DeCrane

  
	
   

  	
   

  	
  Name:

  	
   R.
  Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  

 

S-3

 

	
   

  	
  PPI HOLDINGS, INC.,
  a Kansas corporation 

  (for purposes of Section 5 only) as a 

  Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. Jack DeCrane

  
	
   

  	
   

  	
  Name:

  	
   R. Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PRECISION PATTERN, INC., a Kansas
  corporation (for purposes of Section 5 only) as a Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. Jack DeCrane

  
	
   

  	
   

  	
  Name:

  	
   R. Jack DeCrane

  
	
   

  	
   

  	
  Title: 

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE INFINITY PARTNERS, LTD., a Texas limited
  partnership

  
	
   

  	
   

  	
   

  
	
   

  	
  by: DAH-IP
  Holdings, Inc., a Delaware limited partnership, its general partner (for
  purposes of Section 5 only) as a Subsidiary Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. Jack decrane

  
	
   

  	
   

  	
  Name:

  	
   R. Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DECRANE HOLDINGS CO.,
  a Delaware

  corporation (for purposes of Section 5 only) as a

  guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. Jack decrane

  
	
   

  	
   

  	
  Name:

  	
   R. Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

  

 

S-4

 

	
   

  	
  CREDIT SUISSE FIRST BOSTON, acting

  through its Cayman Islands Branch
(successor
  to DLJ Capital Funding, Inc.), as a

  Lender, Syndication Agent and Adminstrative

  Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DANA KLEIN

  
	
   

  	
   

  	
  Name:

  	
   Dana Klein

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard Carey

  
	
   

  	
   

  	
  Name:

  	
   Richard Carey

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  

 

S-5

 

	
   

  	
   

  	
  , as a
  Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
							

 

S-6

 

ANNEX A

 

MATTERS TO BE COVERED
IN OPINION OF COUNSEL TO COMPANY

 

1.             Company has been duly incorporated, and is validly
existing in good standing under the laws of the State of Delaware with
corporate power to own its properties and assets, to enter into the Amendment
and to perform its obligations under the Amendment.

 

2.             The execution, delivery and performance of the Amendment
by Company have been duly authorized by all necessary corporate action on the
part of aaaaaaaCompany, the Amendment has been duly executed and delivered by
Company, and the Amendment and the Amended Agreement constitute the legally
valid and binding obligations of Company, enforceable against Company in
accordance with their respective terms except as may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to or affecting
creditors’ rights generally (including, without limitation, fraudulent
conveyance laws) and by general principles of equity including, without
limitation, concepts of materiality, reasonableness, good faith and fair
dealing and the possible unavailability of specific performance or injunctive
relief, regardless of whether considered in a proceeding in equity or at law.

 

3.             Company’s execution and delivery of the Amendment and
the consummation of the transactions contemplated by the Amendment do not and
will not (i) violate the Certificate of Incorporation or By-laws of Parent
or of Company, (ii) violate, breach or result in a default under Senior
Subordinated Note Indenture or the First Lien Credit Agreement,
(iii) breach or otherwise violate any existing obligation of Company under
any order, judgment or decree of any New York, California or federal court or
Governmental Authority binding on Company or (iv) violate any New York,
California or federal statute or regulation.

 

4.             No governmental consents, approvals, authorizations,
registrations, declarations or filings are required by Company in connection
with the execution and delivery by Company of the Amendment, and the
performance by Company of the Amended Agreement.

 

A-1Exhibit 10.13

 

EXCHANGE AGREEMENT

dated as of

July 23, 2004

among

DECRANE AIRCRAFT HOLDINGS, INC.,

THE GUARANTORS SET FORTH ON THE SIGNATURE PAGES 

HERETO

and

THE HOLDERS SET FORTH ON THE SIGNATURE PAGES HERETO

 

 

TABLE OF CONTENTS

 

	
  Article
  1

  	
   

  
	
  ISSUANCE AND EXCHANGE

  	
   

  
	
   

  	
   

  
	
  Section
  1.01.  Issuance, Exchange And Delivery

  	
   

  
	
  Section
  1.02.  Closing

  	
   

  
	
  Article
  2

  	
   

  
	
  REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE GUARANTORS

  	
   

  
	
   

  	
   

  
	
  Section 2.01.  Incorporation Of Representations And Warranties In Credit Agreement

  	
   

  
	
  Section 2.02.  Authorizations

  	
   

  
	
  Section 2.03.  Governmental
  Authorization

  	
   

  
	
  Section 2.04.  Non-Contravention

  	
   

  
	
  Section 2.05.  No Registration

  	
   

  
	
  Section
  2.06.  Litigation

  	
   

  
	
  Section
  2.07.  Finder’s Fees

  	
   

  
	
   

  	
   

  
	
  ARTICLE 3

  	
   

  
	
  REPRESENTATIONS AND WARRANTIES OF THE HOLDERS

  	
   

  
	
   

  	
   

  
	
  Section 3.01.  Ownership of Old Notes

  	
   

  
	
  Section 3.02.  Authorization of Exchange Agreement

  	
   

  
	
  Section 3.03.  Non-Contravention

  	
   

  
	
  Section 3.04.  Exchange for Investment

  	
   

  
	
  Section 3.05.  Restricted Securities

  	
   

  
	
  Section
  3.06.  Inspections; No Other Representations

  	
   

  
	
  Section
  3.07.  Finder’s Fees

  	
   

  
	
  ARTICLE 4

  	
   

  
	
  COVENANTS

  	
   

  
	
  Section 4.01.  Covenants of the Company

  	
   

  
	
  Section 4.02.  Covenants of the Holders

  	
   

  
	
   

  	
   

  
	
  Article
  5

  	
   

  
	
  CONDITIONS
  TO THE CLOSING

  	
   

  
	
   

  	
   

  
	
  Section 5.01.  Conditions to Obligation of Each Party

  	
   

  
	
  Section 5.02.  Conditions to the Obligations
  of the Holders

  	
   

  
	
  Section 5.03.  Conditions
  to the Obligations of the Company

  	
   

  
	
   

  	
   

  
	
  Article
  6

  	
   

  
	
  SURVIVAL; INDEMNIFICATION

  	
   

  
	
   

  	
   

  
	
  Section
  6.01.  Survival

  	
   

  

 

i

 

	
  Section
  6.02.  Indemnification

  	
   

  
	
   

  	
   

  
	
  ARTICLE 7

  	
   

  
	
  MISCELLANEOUS

  	
   

  
	
   

  	
   

  
	
  Section
  7.01.  Notices

  	
   

  
	
  Section
  7.02.  No Waivers; Amendments

  	
   

  
	
  Section
  7.03.  Exclusivity

  	
   

  
	
  Section
  7.04.  Termination

  	
   

  
	
  Section
  7.05.  Successors And Assigns

  	
   

  
	
  Section
  7.06.  Governing Law

  	
   

  
	
  Section
  7.07.  Jurisdiction

  	
   

  
	
  Section 7.08.  WAIVER OF JURY TRIAL

  	
   

  
	
  Section 7.09.  Counterparts;
  Effectiveness

  	
   

  
	
  Section
  7.10.  Expenses

  	
   

  
	
  Section 7.11.  Entire Agreement

  	
   

  
	
  Section 7.12.  Captions;
  Certain Definitions

  	
   

  
	
   

  	
   

  
	
  Schedule
  1.02

  	
  -

  	
  Amount of
  Old Notes and New Notes; Taxpayer Identification Number

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Exhibit A 

  	
  -

  	
  Form of
  Indenture

  	
   

  
	
  Exhibit B 

  	
  -

  	
  Form of
  Registration Rights Agreement

  	
   

  

 

ii

 

EXCHANGE AGREEMENT

 

AGREEMENT
dated as of July 23, 2004, among DeCrane Aircraft Holdings, Inc., a Delaware
corporation (the “Company”), the
affiliates of the Company set forth on the signature pages hereto as Guarantors
(the “Guarantors”),
and certain holders of the Company’s 12% Senior Subordinated Notes due 2008
(the “Old Notes”) set forth on the
signature pages hereto (together with their successors and assigns, the “Holders”).

 

W 
I  T  N  E  S  S  E 
T  H :

 

WHEREAS, the
Holders are holders of a portion the Old Notes;

 

WHEREAS, the
Holders and the Company desire that the Holders exchange the Old Notes for new
17% Senior Discount Notes due 2008 of the Company (the “New Notes”) guaranteed by
each of the Guarantors, to be issued pursuant to the provisions of an
Indenture, substantially in the form attached hereto as Exhibit A, dated as of
the Closing Date (as defined herein) (the “Indenture”)
among the Company, the Guarantors named therein and U.S. Bank National
Association, as Trustee  (the “Trustee”);

 

WHEREAS, in connection with the exchange of the Old Notes for the New
Notes, the Company will enter into an amendment (the “Credit Agreement Amendment”)
to the Third Amended and Restated Credit Agreement dated May 11, 2000 among the
Company, the lenders party thereto and Credit Suisse First Boston, as
administrative agent and syndication agent for the lenders (as amended, the “Credit
Agreement”);

 

WHEREAS, in connection with the exchange of the Old Notes for the New
Notes, the Company will enter into an amendment (the “Second Lien Credit Agreement Amendment”)
to the Second Lien Credit Agreement dated December 22, 2003 among the Company,
the lenders party thereto and Credit Suisse First Boston, acting through its
Cayman Islands Branch, as administrative agent and syndication agent for the
lenders (as amended, the “Second Lien  Credit Agreement”);

 

WHEREAS, concurrently with the exchange of the Old Notes for the New
Notes, the Company will amend the terms of its 16% Senior Redeemable
Exchangeable Preferred Stock due 2009 (the “Senior Preferred Stock Amendment”)
and DeCrane Holdings Co. will amend the terms of substantially all of its 14%
Senior Redeemable Exchangeable Preferred Stock due 2009, whether through an
amendment of such securities or an exchange therefor (the “Junior Preferred Stock Amendment”);
and

 

WHEREAS, the Holders, the Company and the Guarantors will enter into a
Registration Rights Agreement relating to the New Notes, substantially in the
form attached hereto as Exhibit B, dated as of the Closing Date (the “Registration
Rights Agreement”).

 

1

 

NOW THEREFORE,
the parties hereto agree as follows:

 

 

ARTICLE 1

ISSUANCE AND
EXCHANGE

 

Section 1.01.  Issuance, Exchange And
Delivery. Upon the terms and subject to the terms and
conditions of this Agreement, the Company agrees to issue to each Holder, and
each Holder agrees, severally but not jointly, to accept from the Company at
the Closing, the New Notes in exchange for the surrender of the Old Notes, in
each case in the principal amounts set forth opposite such Holder’s name on
Schedule 1.02 hereto.

 

Section 1.02.  Closing.  The closing (the “Closing”) of the issuance of the New Notes
hereunder shall take place at the offices of Davis Polk & Wardwell, 450
Lexington Avenue, New York, New York, as soon as possible, but in no event
later than five (5) Business Days after satisfaction of the conditions set
forth in Article 5, or at such other time or place as Company and the Holders
may agree, such date is hereinafter referred to as the “Closing Date”.  At the Closing (a) each Holder shall
surrender to the Company the principal amount of the Old Notes set forth
opposite such Holder’s name on Schedule 1.02 hereto; and (b) the Company shall
deliver to each Holder New Notes with an initial accreted value equal to the
amount  set forth opposite such Holder’s
name on Schedule 1.02 hereto, plus an amount in cash equal to the accrued and
unpaid interest on the Old Notes being exchanged to the Closing Date.

 

 

ARTICLE 2

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY AND THE GUARANTORS

 

The Company
and each of the Guarantors represents and warrants to each Holder that:

 

Section 2.01.  No
Default under the Credit Agreement. 
As of the date hereof, (i) no Potential Event
of Default or Event of Default (each as defined in the Credit Agreement) under
the Credit Agreement has occurred and is continuing, and (ii) the Company is
able to satisfy the conditions to borrowing thereunder to permit the Company to
borrow at least $1 of additional debt thereunder pursuant to the terms thereto
on the date hereof.

 

Section 2.02.  Authorizations.  The execution,
delivery and performance by the Company and each of the Guarantors of this
Agreement have been duly authorized by all necessary corporate action on the
part of the Company and each of the Guarantors.  The New Notes have been duly authorized and, when executed and
authenticated in accordance with the provisions of the Indenture and issued to
the holders in exchange for the Old Notes in accordance with the  terms of this

 

2

 

Agreement,
will be valid and binding obligations of the Company, enforceable in accordance
with their terms, subject to applicable bankruptcy, insolvency, fraudulent
transfer and similar laws affecting creditors’ rights generally and equitable
principles of general applicability, and will be entitled to the benefits of
the Indenture; each of the Guarantors has duly authorized its guarantee of the
New Notes and, when the New Notes have been executed and authenticated in
accordance with the provisions of the Indenture and issued to the holders in
exchange for the Old Notes in accordance with the terms of this Agreement and
the Indenture has been executed and delivered by each Guarantor, the guarantee
of the New Notes will be a valid and binding obligation of the each Guarantor,
enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, fraudulent transfer and similar laws affecting creditors’ rights
generally and equitable principles of general applicability. 
Each of the Indenture and the Registration Rights Agreement has
been duly authorized by all necessary corporate action on the part of the
Company and each of the Guarantors, as applicable.  This Agreement is and, when executed and delivered on the Closing
Date, each of the Indenture and the Registration Rights Agreement will be, a
valid and binding agreement of the Company and each of the Guarantors, as
applicable, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, fraudulent transfer and similar laws affecting creditors’ rights
generally and equitable principles of general applicability and except as
rights to indemnification and contribution under the Registration Rights
Agreement may be limited under applicable law.

 

Section 2.03.  Governmental
Authorization.  Assuming
the accuracy of the representations and warranties of the Holders and their
compliance with the covenants herein, the execution, delivery and performance
by the Company and each of the Guarantors of this Agreement, the Indenture, the
Registration Rights Agreement and the New Notes require no material order,
license, consent, authorization, or approval of, or exemption by, or action by
or in respect of, or notice to, or filing or registration with, any
governmental body, agency or official, except as may be required by Federal and
state securities laws with respect to the Company’s obligations under the
Registration Rights Agreement and except as may be required by state securities
laws.

 

Section 2.04.  Non-Contravention.  The execution,
delivery and performance by the Company and each of the Guarantors of this
Agreement, the Registration Rights Agreement, the Indenture and the New Notes
do not and will not (i) violate the certificate of incorporation or bylaws of
the Company or any Guarantor or any material agreement or other instrument
binding upon the Company or any Guarantor or (ii) violate any material
applicable law, rule, regulation, judgment, injunction, order or decree.

 

Section 2.05.  No Registration.  Assuming the
accuracy of the representations and warranties of the Holders and their
compliance with the covenants herein, it is not necessary in connection with
the issuance of the New Notes to the Holders in the manner contemplated by this
Agreement to register 

 

3

 

the  New Notes under the Securities Act of 1933,
as amended (the “Securities Act”) or to qualify the Indenture under the Trust
Indenture Act of 1939, as amended.

 

Section 2.06.  Litigation.  There is no action,
suit, investigation or proceeding pending against, or to the knowledge of the
Company or any Guarantor, threatened in writing against or affecting the
Company or any Guarantor or any of their respective properties before any court
or arbitrator or any governmental body, agency or official which could
reasonably be expected to have a material adverse effect on the transactions
contemplated by this Agreement.

 

Section 2.07.  Finder’s Fees.  Except for Credit Suisse First Boston LLC,
whose compensation in connection with the exchange of the Old Notes for the New
Notes will be paid by the Company, there is no investment banker,
broker, finder or other intermediary which has been retained by or is
authorized to act on behalf of the Company or any of its Affiliates (as defined
in Rule 405 under the Securities Act) which might be entitled to any fee or
commission from any Holder, the Company or any of their respective Affiliates
upon consummation of the transactions contemplated by this Agreement.

 

ARTICLE 3

REPRESENTATIONS
AND WARRANTIES OF THE HOLDERS

 

Each Holder,
severally as to itself and not jointly, represents, warrants and agrees to the
Company and the Guarantors as follows:

 

Section 3.01.  Ownership of Old Notes.  Such Holder has, and on the Closing Date will have valid
title to, or a valid “security entitlement” within the meaning of Section 8-501
of the New York Uniform Commercial Code in respect of, the Old Notes to be
exchanged by such Holder free and clear of all security interests, claims,
liens, equities or other encumbrances and the legal right and power, and all
authorization and approval required by law, to enter into this Agreement and to
transfer and deliver the Old Notes to be exchanged by such Holder or a security
entitlement in respect of such Old Notes.

 

Section 3.02.  Authorization
of Exchange Agreement.  The
execution, delivery and performance of this Agreement are within such Holder’s
powers and have been duly authorized by all requisite corporate action on the
part of such Holder.  This Agreement
constitutes a valid and binding agreement of such Holder enforceable in
accordance with its terms.  This
Agreement has been duly executed and delivered by such Holder.

 

Section 3.03.  Non-Contravention. 
The execution and delivery by such Holder of, and the performance by
such Holder of its obligations under, this Agreement will not contravene any
provision of applicable law or the certificate 

 

4

 

of incorporation,
by-laws or other organizational document of such Holder or any material
agreement or other instrument binding upon such Holder, or any judgment, order
or decree of any governmental body, agency or court having jurisdiction over
such Holder.

 

Section 3.04.  Exchange for
Investment.  Such
Holder acknowledges that the New Notes have not been registered under the
Securities Act or any state securities laws and that the issuance of the New
Notes contemplated hereby is to be effected pursuant to an exemption from the
registration requirements imposed by such laws, including Section 4(2) under
the Securities Act.  Such Holder is an
“accredited investor” within the meaning of Rule 501(a) under the Securities
Act and the New Notes to be received by it pursuant to this Agreement are being
received for its own account without a view toward distribution in violation of
the Securities Act and such Holder will not offer, sell, transfer, pledge,
hypothecate or otherwise dispose of the New Notes unless (i) pursuant to a
transaction either registered under, or exempt from registration pursuant to
Rule 144A and Regulation S under, the Securities Act or (ii) to an accredited
investor, provided that such accredited investor accepts delivery of such New
Notes in the form of a definitive note registered in the name of such
accredited investor.

 

Section 3.05.  Restricted
Securities.  Such
Holder acknowledges that the New Notes have not been registered under the
Securities Act and may not be offered, sold, pledged or otherwise transferred
prior to the expiration of the applicable holding period of the New Notes under
Rule 144 (k) of the Securities Act, except (a) in accordance with Rule 144A or
Regulation S under the Securities Act or pursuant to another exemption from the
registration requirements of the Securities Act or (b) pursuant to an effective
registration statement under the Securities Act.  The New Notes will bear a legend and will be subject to transfer
restrictions as set forth in the Indenture.

 

Section 3.06.  Inspections; No
Other Representations.  Each
Holder is an informed and sophisticated purchaser, and has engaged expert
advisors experienced in the evaluation of the transactions contemplated
hereunder.  Each Holder has undertaken
such investigation and has been provided with and has evaluated such documents
and information as it has deemed necessary to enable it to make an informed and
intelligent decision with respect to the execution, delivery and performance of
this Agreement.  Each Holder
acknowledges that the Company has given such Holder complete and open access
(to the extent requested by such Holder) to the key employees, and documents of
the Company and its subsidiaries.  Each
Holder agrees to accept the New Notes on the Closing Date based upon its own
inspection, examination and determination with respect thereto as to all
matters, and without reliance upon any express or implied representations or
warranties of any nature made by or on behalf of or imputed to the Company,
except as expressly set forth in this Agreement.  Without limiting the generality of the foregoing, each Holder
acknowledges that the Company makes no representation or warranty with respect
to (i) any projections, estimates or budgets delivered to or made available to
the Holder of future revenues, future 

 

5

 

results of
operations (or any component thereof), future cash flows or future financial
condition (or any component thereof) of the Company and the Guarantors or the
future business and operations of the Company and the Guarantors or (ii) any
other information or documents made available to such Holder or its  advisors with respect to the Company or the
Guarantors or their respective businesses or operations, except as expressly set
forth in this Agreement.

 

Section 3.07.  Finder’s Fees.  There is no investment banker, broker,
finder or other intermediary which has been retained by or is authorized to act
on behalf of such Holder or any of its Affiliates which might be entitled to any
fee or commission from such Holder, the Company or any of their respective
Affiliates upon consummation of the transactions contemplated by this
Agreement.

 

Section 3.08.  Taxpayer
Identification Numbers.  The number set forth under “Taxpayer
Identification Number” on Schedule 1.02 hereto listed next to the name of such
Holder is such Holder’s federal taxpayer identification number.

 

ARTICLE 4

COVENANTS

 

Section 4.01.  Covenants of
the Company.  In
further consideration of the agreements of the Holders contained in this
Agreement, the Company covenants with each of the Holders as follows:

 

(a)        the Company will use its commercially
reasonable efforts to take, or cause to be taken, all actions and to do, or
cause to be done, all things necessary or desirable under applicable laws and
regulations to consummate the transactions contemplated by this Agreement;

 

(b)        the Company will use its commercially
reasonable efforts to obtain any consents, approvals or waivers that are
required to be obtained from third parties to any material contracts, in
connection with the consummation of the transactions contemplated by this
Agreement; and

 

(c)        prior to the Closing Date, the Company
agrees that, except as the Company and its counsel reasonably determine to be
required by law, it will not disclose the identity of the Holders to any third
party without the prior written consent of such Holder, which consent shall not
be unreasonably withheld, except that the Company may disclose any Holder’s
identity to its advisors and counsel or to any other Holder that is a party to
this Agreement (it being understood that the Company will be required to
publicly file this Agreement, the Indenture and the Registration Rights
Agreement with the Securities and Exchange Commission, which documents will
identify each Holder).

 

6

 

Section 4.02.  Covenants of
the Holders.  In
further consideration of the agreements of the Company contained in this
Agreement, each Holder covenants with the Company as follows:

 

(a)        such Holder and its Affiliates (as
defined in Rule 405 under the Securities Act) will hold, and will use their
commercially reasonable efforts to cause their respective officers, directors,
employees, accountants, counsel, consultants, advisors and agents to hold, in
confidence, (i) the existence of this Agreement or any facts relating to the
transaction contemplated by this Agreement and (ii) all confidential documents
and information concerning the Company or any Guarantor furnished to such
Holder or its Affiliates in connection with the transactions contemplated by
this Agreement, except to the extent that such information can be shown to have
been (A) previously known on a non-confidential basis by such Holder, (B) in
the public domain through no fault of such Holder or (C) later lawfully
acquired by such Holder from sources other than the Company or any Guarantor;
provided that such Holder may disclose such information to its officers,
directors, employees, accountants, counsel, consultants, advisors and agents in
connection with the transactions contemplated by this Agreement  so long as such persons are informed by such
Holder of the confidential nature of such information and are directed by such
Holder to treat such information confidentially.  Each Holder shall be responsible for any failure to treat such
information confidentially by such persons. 
The obligation of each Holder and its Affiliates to hold any such
information in confidence shall be satisfied if they exercise the same care
with respect to such information as they would take to preserve the
confidentiality of their own similar information and shall in any event expire
six months from the Closing Date.  If
this Agreement is terminated, each Holder and its Affiliates will, and will use
their commercially reasonable efforts to cause their respective officers,
directors, employees, accountants, counsel, consultants, advisors and agents
to, destroy or deliver to the Company, upon request, all documents and other
materials, and all copies thereof, obtained by such Holder or its Affiliates or
on their behalf from the Company or any Guarantor in connection with this
Agreement that are subject to such confidentiality provisions;

 

(b)        unless this Agreement is terminated in
accordance with Section 7.04 hereof, such Holder will not pledge, sell,
contract to sell, grant any option, right or warrant to purchase, lend or
otherwise transfer or dispose of any of the Old Notes or any right or interest
(voting or otherwise and including any participation interest) therein, except
with the consent of the Company or pursuant to Section 1.02 hereof; and

 

(c)        such Holder will use its commercially
reasonable efforts to take, or cause to be taken, all actions and to do, or
cause to be done, all things necessary or desirable under applicable laws and
regulations to consummate the transactions contemplated by this Agreement.

 

7

 

ARTICLE 5

CONDITIONS TO
THE CLOSING

 

Section 5.01.  Conditions to
Obligation of Each Party.  The
obligations of each party hereto to consummate the issuance of the New Notes in
exchange for the Old Notes is subject to the satisfaction (or, to the extent
permitted by law, waiver by such party), at or prior to the Closing Date, of
the following conditions:

 

(a)        no provision of any applicable law or
regulation and no judgment, injunction, order or decree shall prohibit the
consummation of the Closing and there shall not be threatened, instituted or
pending any action, suit, investigation or proceeding which could reasonably be
expected to have a material adverse effect on the transactions contemplated by
this Agreement;

 

(b)        the Senior Preferred Stock Amendment and
the Junior Preferred Stock Amendment shall have been consummated or shall be
consummated concurrently with the Closing;

 

(c)        the Credit Agreement Amendment shall be
in full force and effect; and

 

(d)        the Second Lien Credit Agreement
Amendment shall be in full force and effect.

 

Section 5.02.  Conditions to the Obligations of the
Holders.  The
obligation of the Holders to exchange the Old Notes for the New Notes is
subject to the satisfaction (or, to the extent permitted by law, waiver by each
Holder), at or prior to the Closing Date, of the following additional
conditions:

 

(a)        no more than $65,000,000 in principal
amount of Old Notes shall be exchanged for New Notes or other securities of the
Company;

 

(b)        the representations and warranties of
the Company contained in this Agreement shall be true and correct in all
material respects, the Company shall have performed and complied with all
covenants and agreements required by this Agreement to be performed by it at or
prior to the Closing Date, and each Holder shall have received a certificate,
dated the Closing Date, signed by an authorized officer of the Company to the
foregoing effect;

 

(c)        the Company shall have delivered to each
Holder an opinion of  Davis Polk &
Wardwell, special counsel to the Company, dated the Closing Date, in form and
substance reasonably satisfactory to the Holders, to the effect that (subject
to appropriate assumptions and limitations):

 

(i)    the New Notes have been duly authorized by
the Company and, when executed and authenticated in accordance with the
provisions of the Indenture and issued to the Holders in exchange for the Old
Notes in 

 

8

 

accordance with the terms of this Agreement,
will be entitled to the benefits of the Indenture and will be valid and binding
obligations of the Company, enforceable against the Company in accordance with
their terms, except (x) as such enforcement may be limited by bankruptcy,
insolvency, fraudulent conveyance or similar laws affecting creditors’ rights
generally, (y) as such enforcement is subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding in
equity or at law) and (z) to the extent that a waiver of the rights under any
usury or stay law may be unenforceable, we express no opinion, however, as to
the applicability (and, if applicable, the effect) of Section 548 of the United
States Bankruptcy Code or any comparable provision of state law to the
questions addressed above or on the conclusions expressed with respect thereto;

 

(ii)   the Indenture has been duly authorized,
executed and delivered by each of the Company and each of the Guarantors
organized under the laws of Delaware (the “Delaware Guarantors”) and is a valid and
binding agreement of the Company, and (assuming due authorization, execution
and delivery by each other Guarantor (the “Non-Delaware Guarantors”)) the Guarantors,
enforceable in accordance with its terms; except (x) as such enforcement
may be limited by bankruptcy, insolvency, fraudulent conveyance or similar laws
affecting creditors’ rights generally, (y) as such enforcement is subject to
general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law) and (z) to the extent that a
waiver of the rights under any usury or stay law may be unenforceable, we
express no opinion, however, as to the applicability (and, if applicable, the
effect) of Section 548 of the United States Bankruptcy Code or any comparable
provision of state law to the questions addressed above or on the conclusions expressed
with respect thereto;

 

(iii)  this
Agreement has been duly authorized, executed and delivered by each of the
Company and the Delaware Guarantors;

 

(iv)  the Registration Rights Agreement has been duly
authorized, executed and delivered by each of the Company and the Delaware
Guarantors and is a valid and binding agreement of the Company and
(assuming due authorization, execution and delivery by the Non-Delaware Guarantors) the
Guarantors, enforceable against each of the Company and the Guarantors in
accordance with its terms, except (x) as such enforcement may be limited by
bankruptcy, insolvency, fraudulent conveyance or similar laws affecting
creditors’ rights generally, (y) as such enforcement is subject to general
principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law) and (z) rights to indemnity and
contribution thereunder may be limited by applicable law;

 

9

 

(v)   each of the Delaware Guarantors has duly
authorized its Guarantee of the New Notes; assuming each of the Non-Delaware
Guarantors has duly authorized its Guarantee of the New Notes, when the New
Notes and the Guarantee evidenced thereon have been executed and authenticated
in accordance with the terms of the Indenture and issued to the Holders in
exchange for the Old Notes in accordance with the terms thereof, the Guarantee
of each Guarantor will be the legally valid and binding obligation of such
Guarantor, enforceable against such Guarantor in accordance with its terms,
except (x) as such enforcement may be limited by bankruptcy, insolvency,
fraudulent conveyance or similar laws affecting creditors’ rights generally,
(y) as such enforcement is subject to general principles of equity (regardless
of whether such enforceability is considered in a proceeding in equity or at
law) and (z) to the extent that a waiver of the rights under any usury or stay
law may be unenforceable, we express no opinion, however, as to the
applicability (and, if applicable, the effect) of Section 548 of the United
States Bankruptcy Code or any comparable provision of state law to the
questions addressed above or on the conclusions expressed with respect thereto;
and

 

(vi)  the Exchange will not contravene the Credit
Agreement, the Second Lien Credit Agreement, or the indenture for the Old
Notes.

 

(d)        the Company and the Guarantors shall
have executed and delivered the Indenture and the Registration Rights
Agreement;

 

(e)        The Holders shall have received copies
of each of the Credit Agreement Amendment and the Second Lien Credit Agreement
Amendment, each of which shall be in full force and effect and no term or
condition thereof shall have been amended, waived or otherwise modified without
the prior consent of the Holders;

 

(f)         all fees and expenses payable to the
Holders on or prior to the Closing Date shall have been paid in full; and

 

(g)        each Holder shall have received all
documents reasonably requested by it relating to the existence of the Company
and the corporate authority for entering into this Agreement and the
consummation of the transactions contemplated hereby, all in form and substance
reasonably satisfactory to it.

 

Section 5.03.  Conditions
to the Obligations of the Company.  The
obligations of the Company to issue the New Notes to the Holders pursuant to
this Agreement are subject to the satisfaction (or, to the extent permitted by
law, waiver by each Holder), at or prior to the Closing Date, of the following
conditions:

 

(a)        the representations and warranties of
the Holders contained in this Agreement shall be true and correct in all
material respects and the Holders shall 

 

10

 

have performed
and complied with all covenants and agreements required by this Agreement to be
performed by them at or prior to the Closing Date; and

 

(b)        the Holders shall have executed and
delivered the Registration Rights Agreement; and

 

(c)        the Company shall have received all
documents reasonably requested by it relating to the existence of each Holder
and the authority for entering into this Agreement and the consummation of the
transactions contemplated hereby, all in form and substance reasonably
satisfactory to it.

 

ARTICLE 6

SURVIVAL; INDEMNIFICATION

 

Section 6.01.  Survival.  The representations
and warranties of the parties hereto contained in this Agreement, shall survive
the execution and delivery of this Agreement. 
The covenants and agreements of the parties contained in this Agreement
shall survive the Closing in accordance with their terms or, if no term is
specified, indefinitely.

 

Section 6.02.  Indemnification.  (a) The Company
hereby indemnifies each of the Holders, each person, if any, who controls any
Holder within the meaning of either Section 15 of the Securities Act or Section
20 of the Securities Exchange Act of 1934, and each affiliate of any Holder
within the meaning of Rule 405 under the Securities Act against and agrees to
hold each of them harmless from any and all losses, claims, damages, costs, liabilities
or expenses (or actions, suits or proceedings in respect thereof), including
reasonable expenses of investigation and reasonable attorneys’ fees and
expenses, in each case, in connection with any action, suit or proceeding
involving a third party (“Damages”)
incurred or suffered by any of them, in each case arising out of any
misrepresentation or breach of warranty, covenant or agreement made or to be
performed by the Company pursuant to this Agreement.

 

(b)        The Company shall not be responsible for any
Damages to the extent a court of competent jurisdiction shall have finally
determined that such Damages resulted primarily from (i) such indemnified
person’s bad faith or gross negligence; (ii) any claims made by one or more of
the indemnified persons against another indemnified person or indemnified
persons in connection with the Transactions or (iii) any breach of the
representations and warranties of any of the Holders set forth in this
Agreement (clauses (i) through (iii), collectively, “Excluded Claims”).  If for any reason (other than that such liability is an Excluded
Claim) the foregoing indemnity is unavailable or insufficient to hold an
indemnified person harmless, then the Company shall contribute to amounts paid
or payable by such indemnified person in respect of such Damages in such
proportion as appropriately reflects the relative benefits received by, and
fault of, 

 

11

 

the Company
and such indemnified person in connection with the matters as to which such
Damages relate and other equitable considerations.

 

(c)        The party seeking indemnification under
this Section (the “Indemnified Party”) agrees to give prompt
notice to the party against whom indemnity is sought (the “Indemnifying Party”) of the
assertion of any claim, or the commencement of any suit, action or proceeding
(“Claim”)
in respect of which indemnity may be sought under such Section and will provide
the Indemnifying Party such information with respect thereto that the
Indemnifying Party may reasonably request. The failure to so notify the
Indemnifying Party shall not relieve the Indemnifying Party of its obligations
hereunder, except to the extent such failure shall have adversely prejudiced
the Indemnifying Party.

 

(d)        The Indemnifying Party shall be entitled
to participate in the defense of any Claim asserted by any third party (“Third Party
Claim”) and, subject to the limitations set forth in this Section,
shall be entitled to control and appoint lead counsel for such defense, in each
case at its expense.

 

(e)        If the Indemnifying Party shall assume
the control of the defense of any Third Party Claim in accordance with the
provisions of this Section the Indemnifying Party shall obtain the prior
written consent of the Indemnified Party (which shall not be unreasonably
withheld) before entering into any settlement of such Third Party Claim and the
Indemnified Party shall be entitled to participate in the defense of such Third
Party Claim and to employ separate counsel of its choice for such purpose.  The fees and expenses of such separate
counsel shall be paid by the Indemnified Party.

 

(f)         Each party shall cooperate, and cause
their respective Affiliates to cooperate, in the defense or prosecution of any
Third Party Claim and shall furnish or cause to be furnished such records,
information and testimony, and attend such conferences, discovery proceedings,
hearings, trials or appeals, as may be reasonably requested in connection
therewith.

 

ARTICLE 7

MISCELLANEOUS

 

Section 7.01.  Notices.  All notices,
requests and other communications to any party hereunder shall be in writing
(including facsimile transmission) and shall be given,

 

if to the Holders, to:

 

Wayzata Investment Partners, LLC

701 East Lake Street

Suite 300

Wayzata, MN  55391

12

 

Attention:  Joe Deignan

Facsimile:  (952) 345-8900

 

and

 

Putnam Investment Management, LLC

Putnam Fiduciary Trust Company

One Post Office Square

Boston , MA  02109

Attention:  James P. Miller

Facsimile:  (617) 760-8639

 

and

 

Deephaven Distressed Opportunities Trading Ltd

130 Cheshire Lane

Suite 102

Minnetonka, MN 55305

Attention:  Peter H. Glerum

Facsimile:  (952) 249-5316

 

with a copy (which shall not constitute notice to any Holder) to:

 

Ropes & Gray LLP

One International Place

Boston, MA  02110

Attention:  Don De Amicis, Esq.

Facsimile:  (617) 951-7050

 

if to the Company, to:

 

DeCrane Aircraft Holdings, Inc.

2361 Rosecrans Avenue, Suite 180

El Segundo, California  90245

Attention:  Chief Financial Officer

Facsimile:  (310) 643-5106

 

with a copy (which shall not constitute notice to the Company) to:

 

Davis Polk & Wardwell

450 Lexington Avenue

New York, New York 10017

Attention:  Michael P. Kaplan, Esq.

Facsimile:  (212) 450-3800

 

All such
notices, requests and other communications shall be deemed received on the date
of receipt by the recipient thereof if received prior to 5 p.m. in the place of
receipt and such day is a Business Day in the place of receipt.  Otherwise, any 

 

 

13

 

such notice,
request or communication shall be deemed not to have been received until the
next succeeding business day in the place of receipt.

 

Section 7.02.  No Waivers;
Amendments. (a)  No
failure or delay on the part of any party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise thereof preclude any other or further exercise thereof or the
exercise of any other right, power or privilege. The rights and remedies herein
provided shall be cumulative and not exclusive of any rights or remedies
provided by law.

 

(b)   Any provision of this
Agreement may be amended or waived if, but only if, such amendment or waiver is
in writing and is signed by all parties hereto.

 

Section 7.03.  Exclusivity. After
the Closing, Article 6 will provide the exclusive remedy for Holders for any
misrepresentation, breach of warranty, covenant or other agreement or other
claim arising out of this Agreement or the transactions contemplated
hereby.  The Company shall retain all
remedies available at law for any misrepresentation, breach of warranty,
covenant or other agreement or other claim arising out of this Agreement or the
transactions contemplated hereby.

 

Section 7.04.  Termination. (a)   This Agreement shall terminate, prior to the Closing Date:

 

(i)    at any time by mutual written agreement of
the Company and the Holders;

 

(ii)   if there shall be any law or regulation that
makes consummation of the transactions contemplated by this Agreement illegal
or otherwise prohibited or if consummation of the transactions contemplated
hereby would violate any non-appealable final order, decree or judgment of any
court or governmental body having competent jurisdiction, if so determined by
the Company or the Holders; or

 

(iii)  on July 30, 2004, unless extended to a later
date by an instrument executed by the Company and the Holders.

 

The party
desiring to terminate this Agreement pursuant to this Section 7.04 shall give
notice of such termination to the other parties.

 

(b)        If this Agreement is terminated as
permitted by Section 7.04, such termination shall be without liability of any
party (or any stockholder, director, officer, employee, agent, consultant or
representative of such party) to the other parties to this Agreement; provided that if such termination shall
result from the (i) willful failure of any party to fulfill a condition to the
performance of the obligations of the other parties, (ii) failure to perform a
covenant of this Agreement or (iii) breach by any party hereto of any
representation or warranty or 

 

14

 

agreement
contained herein, such party shall be fully liable for any and all damages
incurred or suffered by the other party as a result of such failure or breach.

 

Section 7.05.  Successors And
Assigns. The Company may not assign any of its rights
and obligations hereunder without the prior written consent of the
Holders.  No Holder may assign its
rights or obligations hereunder without the prior written consent of the
Company.  This Agreement shall be
binding upon the Company and the Holders and their respective successors and
assigns.

 

Section 7.06.  Governing Law. This
Agreement shall be governed and construed in accordance with the laws of the
State of New York, without regard to the choice of law rules of such state.

 

Section 7.07.  Jurisdiction. Except
as otherwise expressly provided in this Agreement, the parties hereto agree
that any suit, action or proceeding seeking to enforce any provision of, or
based on any matter arising out of or in connection with, this Agreement or the
transactions contemplated hereby shall be brought in the United States District
Court for the Southern District of New York or any New York State court sitting
in New York City, so long as one of such courts shall have subject matter
jurisdiction over such suit, action or proceeding, and that any cause of action
arising out of this Agreement shall be deemed to have arisen from a transaction
of business in the State of New York, and each of the parties hereby
irrevocably consents to the jurisdiction of such courts (and of the appropriate
appellate courts therefrom) in any such suit, action or proceeding and
irrevocably waives, to the fullest extent permitted by law, any objection that
it may now or hereafter have to the laying of the venue of any such suit,
action or proceeding in any such court or that any such suit, action or
proceeding which is brought in any such court has been brought in an inconvenient
forum.  Process in any such suit, action
or proceeding may be served on any party anywhere in the world, whether within
or without the jurisdiction of any such court. 
Without limiting the foregoing, each party agrees that service of
process on such party as provided in this Section shall be deemed effective
service of process on such party.

 

Section 7.08.  WAIVER OF JURY
TRIAL. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

Section 7.09.  Counterparts;
Effectiveness.  This
Agreement may be executed in any number of counterparts each of which shall be
an original with the same effect as if the signatures thereto and hereto were
upon the same instrument.  This
Agreement shall become effective when each party hereto shall have received a
counterpart hereof signed by the other parties hereto.  No 

 

15

 

provision of this Agreement is intended to confer upon any Person other
than the parties hereto any rights or remedies hereunder

 

Section 7.10.  Expenses.  Except as otherwise
provided in Article 6 herein, all costs and expenses incurred in connection
with this Agreement shall be paid by the party incurring such cost or expense; provided
however,
that the Company shall pay the fees and expenses of Ropes & Gray LLP,
special counsel to the Holders incurred in connection with the negotiation,
execution and delivery of this Agreement and the transactions contemplated
hereby; provided
further
that such fees and expenses shall not exceed $75,000.

 

Section 7.11.  Entire Agreement.  This Agreement, the
Indenture, the Registration Rights Agreement and the New Notes constitute the
entire agreement and understanding among the parties hereto and supersedes any
and all prior agreements and understandings, written or oral, relating to the
subject matter hereof.

 

Section 7.12.  Captions;
Certain Definitions. The captions herein are included
for convenience of reference only and shall be ignored in the construction or
interpretation hereof.  All references
to “$” or “dollars” shall be to United States dollars
and all references to “days” shall
be to calendar days unless otherwise specified.  Whenever the words “include,”
“includes” or “including” are used in this Agreement, they
shall be deemed to be followed by the words, “without limitation.”

 

[Remainder of page intentionally left blank;
next page is signature page]

 

16

 

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

 

	
   

  	
  DECRANE AIRCRAFT
  HOLDINGS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. JACK DECRANE

  	
   

  
	
   

  	
   

  	
  Name:

  	
  R.Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  AUDIO
  INTERNATIONAL, INC.

  
	
   

  	
   

  	
  CARL F. BOOTH &
  CO., LLC

  
	
   

  	
   

  	
  CUSTOM WOODWORK
  & PLASTICS, LLC

  
	
   

  	
   

  	
  DAH-IP HOLDINGS,
  INC.

  
	
   

  	
   

  	
  DAH-IP INFINITY,
  INC.

  
	
   

  	
   

  	
  DECRANE AIRCRAFT
  SEATING COMPANY, INC.

  
	
   

  	
   

  	
  DECRANE CABIN
  INTERIORS-CANADA, INC.

  
	
   

  	
   

  	
  DECRANE CABIN
  INTERIORS, LLC

  
	
   

  	
   

  	
  HOLLINGSEAD
  INTERNATIONAL, INC.

  
	
   

  	
   

  	
  PATS AIRCRAFT, LLC

  
	
   

  	
   

  	
  PCI NEWCO, INC.

  
	
   

  	
   

  	
  PPI HOLDINGS, INC.

  
	
   

  	
   

  	
  PRECISION PATTERN,
  INC.

  
	
   

  	
   

  	
  THE INFINITY
  PARTNERS, LTD.

  
	
   

  	
   

  	
  as Guarantors

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ R. JACK
  DECRANE

  	
   

  
	
   

  	
   

  	
  Name:

  	
  R. Jack DeCrane

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

  
								

 

 

	
   

  	
  WAYZATA INVESTMENT
  PARTNERS, LLC

  
	
   

  	
  as Manager, on behalf of various funds

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ JOSEPH M.
  DEIGNAN

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Joseph M. Deignan

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  PUTNAM INVESTMENT
  MANAGEMENT, LLC on behalf of:

  
	
   

  	
  PUTNAM HIGH YIELD TRUST

  
	
   

  	
  PUTNAM HIGH YIELD ADVANTAGE FUND

  
	
   

  	
  PUTNAM VARIABLE TRUST- PUTNAM VT HIGH YIELD
  FUND

  
	
   

  	
  PUTNAM MASTER INCOME TRUST

  
	
   

  	
  PUTNAM PREMIER INCOME TRUST

  
	
   

  	
  PUTNAM MASTER INTERMEDIATE INCOME TRUST

  
	
   

  	
  PUTNAM DIVERSIFIED INCOME TRUST

  
	
   

  	
  PUTNAM VARIABLE TRUST - PUTNAM VT
  DIVERSIFIED INCOME FUND

  
	
   

  	
  PUTNAM ASSET ALLOCATION: CONSERVATIVE PORTFOLIO

  
	
   

  	
  PUTNAM MANAGED HIGH YIELD TRUST

  
	
   

  	
  PUTNAM HIGH INCOME BOND FUND

  
	
   

  	
  PUTNAM HIGH INCOME OPPORTUNITIES TRUST

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL E. DEFAO

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael E. DeFao

  
	
   

  	
   

  	
  Title: 

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  PUTNAM FIDUCIARY TRUST COMPANY
  on behalf of:

  PUTNAM
  HIGH YIELD FIXED INCOME FUND, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL E. DEFAO

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael E. DeFao

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DEEPHAVEN DISTRESSED OPPORTUNITIES TRADING

  LTD.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Peter H. Glerum

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Peter H. Glerum

  
	
   

  	
   

  	
  Title:

  	
  Assistant Portfolio Manager

  
										

 

 

SCHEDULE 1.02

 

	
  Holder

  	
   

  	
  Taxpayer

  Identification

  Number

  	
   

  	
  Principal

  Amount of Old

  Notes

  	
   

  	
  Initial Accreted

  Value of

  New Notes

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Wayzata Investment Partners, LLC, as Manager for:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sapphire Special Opportunities Fund, LLC

  	
   

  	
  23-3895790

  	
   

  	
  $

  	
  7,789,000

  	
   

  	
  $

  	
  7,789,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Wayland Recovery Fund, LLC

  	
   

  	
  22-3875940

  	
   

  	
  $

  	
  8,708,000

  	
   

  	
  $

  	
  8,708,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Wayland Investment Fund II, LLC

  	
   

  	
  41-1982966

  	
   

  	
  $

  	
  8,707,000

  	
   

  	
  $

  	
  8,707,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Wayland Distressed Opportunities Fund I-A, LLC

  	
   

  	
  11-3693643

  	
   

  	
  $

  	
  6,466,000

  	
   

  	
  $

  	
  6,466,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam High Yield Trust

  	
   

  	
  04-6415410

  	
   

  	
  $

  	
  11,600,000

  	
   

  	
  $

  	
  11,600,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam High Yield Advantage Fund

  	
   

  	
  06-6290063

  	
   

  	
  $

  	
  5,000,000

  	
   

  	
  $

  	
  5,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Variable Trust-Putnam VT High Yield Fund

  	
   

  	
  04-2986135

  	
   

  	
  $

  	
  2,155,000

  	
   

  	
  $

  	
  2,155,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Master Income Trust

  	
   

  	
  04-2993219

  	
   

  	
  $

  	
  500,000

  	
   

  	
  $

  	
  500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Premier Income Trust

  	
   

  	
  04-2995046

  	
   

  	
  $

  	
  1,310,000

  	
   

  	
  $

  	
  1,310,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Master Intermediate Income Trust

  	
   

  	
  04-6584465

  	
   

  	
  $

  	
  1,000,000

  	
   

  	
  $

  	
  1,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Diversified Income Trust

  	
   

  	
  04-3017475

  	
   

  	
  $

  	
  4,290,000

  	
   

  	
  $

  	
  4,290,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Variable Trust - Putnam VT Diversified Income Fund

  	
   

  	
  04-6737822

  	
   

  	
  $

  	
  820,000

  	
   

  	
  $

  	
  820,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Asset Allocation: 
  Conservative Portfolio

  	
   

  	
  04-6746611

  	
   

  	
  $

  	
  150,000

  	
   

  	
  $

  	
  150,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam Managed High Yield Trust

  	
   

  	
  04-6733967

  	
   

  	
  $

  	
  240,000

  	
   

  	
  $

  	
  240,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam High Income Bond Fund

  	
   

  	
  04-6562068

  	
   

  	
  $

  	
  60,000

  	
   

  	
  $

  	
  60,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam High Income Opportunities Trust

  	
   

  	
  04-6777185

  	
   

  	
  $

  	
  60,000

  	
   

  	
  $

  	
  60,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Putnam High Yield Fixed Income Fund, LLC

  	
   

  	
  51-6190220

  	
   

  	
  $

  	
  100,000

  	
   

  	
  $

  	
  100,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Deephaven Distressed Opportunities Trading Ltd

  	
   

  	
  41-1963795

  	
   

  	
  $

  	
  5,530,000

  	
   

  	
  $

  	
  5,530,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
  $

  	
  64,485,000

  	
   

  	
  $

  	
  64,485,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00074-of-00352.parquet"}]]