Document:

Exhibit
4.1

 

OWENS-ILLINOIS
GROUP, INC.

OWENS-BROCKWAY GLASS CONTAINER INC.

ACI OPERATIONS PTY LIMITED 

OI EUROPEAN GROUP B.V.

O-I EUROPE SARL

O-I CANADA CORP.

 

FOURTH
AMENDMENT TO CREDIT AGREEMENT

 

This FOURTH
AMENDMENT TO CREDIT AGREEMENT (this “Amendment”)
is dated as of September 6, 2010 and entered into by and among OWENS-ILLINOIS GROUP, INC., a Delaware corporation (“Company”), OWENS-BROCKWAY GLASS
CONTAINER INC., a Delaware corporation, ACI
OPERATIONS PTY LIMITED, a limited liability company organized under
the laws of Australia, OI EUROPEAN GROUP B.V.,
a private company with limited liability organized under the laws of the
Netherlands, O-I EUROPE SARL, a Swiss Société à responsabilité limitée (limited liability
corporation), O-I CANADA CORP., a Nova Scotia
company and OWENS-ILLINOIS GENERAL, INC.,
a Delaware corporation, as Borrowers’ Agent, THE OTHER
LOAN PARTIES PARTY HERETO, THE LENDERS LISTED ON THE
SIGNATURE PAGES HEREOF (each individually a “Lender”
and collectively, “Lenders”), DEUTSCHE BANK AG, NEW YORK BRANCH, as Administrative Agent
for Lenders (in such capacity, the “Administrative Agent”)
and DEUTSCHE BANK TRUST COMPANY AMERICAS,
as Collateral Agent for Lenders (in such capacity, the “Collateral
Agent”).  Capitalized terms
used herein without definition shall have the same meanings as set forth in the
Credit Agreement dated as of June 14, 2006 by and among the parties listed
above (as amended by that certain First Amendment to Credit Agreement and
Consent dated as of February 28, 2007, that certain Second Amendment to
Credit Agreement and Consent dated as of June 11, 2007, and that certain
Third Amendment to Credit Agreement and Consent dated as of April 30,
2010, the “Credit Agreement”).

 

RECITALS

 

WHEREAS, Company, Borrowers and Requisite Lenders desire
to amend the Credit Agreement as set forth herein.

 

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 CREDIT AGREEMENT

 

A.                                   Amendment to Subsection 1.1 — Certain Defined Terms.  The definition of “New European
Refinancing Debt” set forth in subsection 1.1 of the Credit Agreement is hereby
amended by (i) changing the defined term from “New European Refinancing
Debt” to “New European Senior Debt” and (ii) deleting the reference to “means
OI European Group B.V.’s 6 7/8% Senior Notes due 2017 and other Indebtedness
(including guarantees thereof and Indebtedness and guarantees issued in
exchange or in replacement thereof containing 

 

1

 

substantially identical
terms) in an aggregate principal amount not exceeding $600,000,000 (or the
Offshore Currency Equivalent thereof)” and substituting the following therefor:

 

“means (i) OI European
Group B.V.’s 6 7/8% Senior Notes due 2017 (including guarantees thereof
required by the indenture governing the same) and (ii) additional
Indebtedness (including guarantees thereof and Indebtedness and guarantees
issued in exchange or in replacement thereof containing substantially identical
terms) in an aggregate principal amount not exceeding $900,000,000 (or the
Offshore Currency Equivalent thereof)”

 

B.                                     Amendment to Subsection 2.4 — Repayments and Prepayments; Reductions in
Commitments.  Subsection 2.4B(ii)(d) of the Credit
Agreement is hereby amended by deleting the reference to “(other than New
Senior Debt also constituting New European Refinancing Debt)” contained in the
first paragraph therein.

 

C.                                     Amendments to Certain References in the Credit Agreement.  The references to “New European
Refinancing Debt” contained in subsections 6.1(x), 6.2B(g), 6.4(x) and in
the definitions of “Consolidated Senior Secured Debt”, “New European
Refinancing Debt” and “New Senior Debt” set forth in subsection 1.1 of the
Credit Agreement, and the reference to “Net European Refinancing Debt”
contained in subsection 2.4B(ii)(d)(2) of the Credit Agreement, are hereby
amended by replacing each such reference with “New European Senior Debt”.

 

Section 2.                                          CONDITIONS TO EFFECTIVENESS

 

A.                                   This Amendment shall become effective only upon satisfaction of all of
the following conditions precedent (the date of such satisfaction being
referred to herein as the “Amendment Effective Date”):

 

(i)                                     Amendment.  On or before the Amendment Effective  Date, (a) Requisite Lenders under the Credit
Agreement, (b) the Administrative Agent, (c) each of the Borrowers,
and (d) each of the Guarantors (as defined below) shall have delivered to
the Administrative Agent executed counterparts of this Amendment.

 

(ii)                                  Representations and Warranties.  On the Amendment Effective  Date, (a) the representations and warranties contained
in Section 3 hereof shall be true and correct as of such date in
all material respects, as though made on and as of such date except to the
extent such representations and warranties specifically relate to an earlier
date, in which case they were true in all material respects as of such earlier
date; (b) no Event of Default shall then exist; and (c) the Borrowers’
Agent shall deliver to the Administrative Agent a certificate signed by a
Responsible Officer or other authorized signatory of Borrowers’ Agent
confirming the foregoing.

 

2

 

Section 3.                                          REPRESENTATIONS AND WARRANTIES

 

In order to induce the Lenders
to enter into this Amendment, Company, each Borrower and each Guarantor
represents and warrants to each Lender that the following statements are true,
correct and complete on and as of the Amendment Effective Date:

 

A.                                   Authorization; Binding Obligations.  Company, each Borrower and each Guarantor has
all requisite organizational power and authority to enter into this
Amendment.  The execution, delivery and
performance of this Amendment has been duly authorized by all necessary organizational
action by Company, each Borrower and each Guarantor.  This Amendment has been duly executed and
delivered by Company, each Borrower and each Guarantor and is the legally valid
and binding obligation of Company, each Borrower and each Guarantor, enforceable
against Company, each Borrower and each Guarantor in accordance with its terms,
except as enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to or limiting creditors’
rights generally and by equitable principles relating to enforceability.

 

B.                                     No Conflict.  The execution and delivery by Company, each
Borrower and each Guarantor of this Amendment does not and will not (i) violate
any provision of any material law or any material governmental rule or
regulation applicable to Company, any Borrower or any Guarantor, the
Organizational Documents of Company, any Borrower or any Guarantor, or any
order, judgment or decree of any court or other agency of government binding on
Company, any Borrower or any Guarantor, (ii) conflict with, result in a
material breach of or constitute (with due notice or lapse of time or both) a
material default under any Contractual Obligation of Company, any Borrower or
any Guarantor, (iii) result in or require the creation or imposition of
any Lien under any such Contractual Obligation upon any of the properties or
assets of Company, any Borrower or any Guarantor (other than any Liens created
under any of the Loan Documents).

 

C.                                     Governmental Consents.  The execution and delivery by Company, each
Borrower and the Guarantor of this Amendment does 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 except any thereof that have been obtained and are in full force and
effect.

 

D.                                    Incorporation of Representations.  Each representation and warranty of Company,
each Borrower and each Guarantor contained in each of the Loan Documents is
true and correct in all material respects on and as of the Amendment Effective
Date to the same extent as though made on and as of the Amendment Effective
Date except to the extent such representations and warranties relate to an
earlier date, in which case they were true and correct in all material respects
as of such earlier date.

 

E.                                      Absence of Default.  No event has occurred and is continuing or
would result from the execution, delivery or performance of this Amendment that
constitutes or would constitute an Event of Default or a Potential Event of
Default after giving effect to this Amendment.

 

3

 

F.                                      Acknowledgment and Consent.  Each of Company, each Borrower and each
Guarantor signatory hereto (each individually a “Guarantor”
and collectively, the “Guarantors”)
has read this Amendment and consents to the terms hereof and further hereby
confirms and agrees that, notwithstanding the effectiveness of this Amendment,
the obligations of such Guarantor under each of the Loan Documents to which
such Guarantor is a party shall not be impaired and each of the Loan Documents
to which such Guarantor is a party is, and shall continue to be, in full force
and effect and are hereby confirmed and ratified in all respects.

 

Section 4.                                          MISCELLANEOUS

 

A.                                   Reference to and Effect on the Credit Agreement and the Other Loan
Documents.

 

(i)                                     On and after the 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
Credit Agreement as amended by this Amendment.

 

(ii)                                  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.

 

(iii)                               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 Administrative Agent,
Collateral Agent, or any Lender under the Credit Agreement or any of the other
Loan Documents.

 

B.                                     Fees and Expenses.  Loan Parties acknowledge that all reasonable
costs, fees and expenses as described in subsection 10.3 of the Credit
Agreement incurred by the Administrative Agent and its counsel with respect to
this Amendment and the documents and transactions contemplated hereby shall be
for the account of Loan Parties.

 

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.

 

4

 

E.                                      Counterparts.  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.

 

[remainder of page intentionally
left blank]

 

5

 

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

 

 

	
   

  	
  OWENS-ILLINOIS GROUP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Senior
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  OWENS-BROCKWAY GLASS CONTAINER
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Senior
  Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ACI OPERATIONS PTY LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Authorized
  Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  O-I CANADA CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
   

  	
  OI EUROPEAN GROUP B.V.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  O-I EUROPE SARL

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Authorized
  Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  OWENS-ILLINOIS GENERAL INC., as
  Borrowers’ Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  On behalf of each entity on the
  attached Exhibit A, in the capacity set forth for such entity
  opposite its name

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  

 

 

	
   

  	
  DEUTSCHE BANK AG NEW YORK
  BRANCH, as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Enrique Landaeta

  
	
   

  	
  Name:

  	
  Enrique Landaeta

  
	
   

  	
  Title:

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Evelyn Thierry

  
	
   

  	
  Name:

  	
  Evelyn
  Thierry

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK TRUST COMPANY
  AMERICAS, as Collateral Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Enrique Landaeta

  
	
   

  	
  Name:

  	
  Enrique Landaeta

  
	
   

  	
  Title:

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Evelyn Thierry

  
	
   

  	
  Name:

  	
  Evelyn
  Thierry

  
	
   

  	
  Title:

  	
  Director

  

 

 

Exhibit A

 

	
  Names
  of Guarantors

  	
   

  	
  Title of Officer Executing on

  Behalf of Such Guarantor

  
	
  ACI
  America Holdings Inc.

  	
   

  	
  Vice
  President

  
	
  Brockway
  Realty Corporation

  	
   

  	
  Vice President

  
	
  NHW
  Auburn, LLC

  	
   

  	
  Senior
  Vice President of Owens-Brockway Glass Container Inc., as sole member of NHW
  Auburn, LLC

  
	
  OI
  Auburn Inc.

  	
   

  	
  Vice
  President

  
	
  Ol
  Australia Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  California Containers Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  Castalia STS Inc.

  	
   

  	
  President

  
	
  OI
  General Finance Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  General FTS Inc.

  	
   

  	
  Vice
  President

  
	
  O-I
  Holding LLC

  	
   

  	
  Vice
  President of OI International Holdings Inc., as sole member of O-I Holding
  LLC

  
	
  OI
  International Holdings Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  Levis Park STS Inc.

  	
   

  	
  President

  
	
  OI
  Puerto Rico STS Inc.

  	
   

  	
  Vice
  President

  
	
  OIB
  Produvisa Inc.

  	
   

  	
  Vice
  President

  
	
  Owens-Brockway
  Packaging, Inc.

  	
   

  	
  Vice
  President

  
	
  Owens-Illinois
  General Inc.

  	
   

  	
  Vice
  President

  
	
  Seagate
  II, Inc.

  	
   

  	
  Vice
  President

  
	
  Seagate
  III, Inc.

  	
   

  	
  Vice
  President

  
	
  Seagate, Inc.

  	
   

  	
  Vice
  President

  
	
  Universal
  Materials, Inc.

  	
   

  	
  Vice
  PresidentExhibit 10.1

 

AMENDED AND RESTATED

TERM LOAN A NOTE

 

	
  $1,000,000

  	
  Irvine, California

  
	
   

  	
  August 31, 2010

  

 

FOR VALUE RECEIVED, EMRISE
CORPORATION,  a Delaware corporation (“Parent”), EMRISE ELECTRONICS CORPORATION,  a New Jersey corporation (“EEC”),  and CXR LARUS CORPORATION,  a Delaware corporation (“CXR”)  (each of Parent, EEC, and CXR is
referred to herein individually as a “Borrower”
and, collectively, as the “Borrowers”), hereby
jointly and severally promise to pay GVEC
RESOURCE IV INC.,  a company organized under the laws
of the British Virgin Islands or its registered assigns (“Payee”),  on or before August 31, 2012
(or such earlier date of termination of this Note, whether by prepayment, or by
acceleration, the “Maturity Date”),  the lesser of (a) ONE MILLION DOLLARS AND ZERO
CENTS ($1,000,000.00), and (b) the unpaid principal amount of Term Loan A
made by Payee to the Borrowers under the Credit Agreement referred to below,
all as more particularly set forth herein. The principal hereof and all
interest thereon shall be due and payable as provided below.

 

Borrowers also hereby jointly and severally promise
to pay interest on the unpaid principal amount hereof, from the date hereof
until paid in full, as follows, notwithstanding anything to the contrary set
forth in that certain Credit Agreement, dated as of November 30, 2007 (as
amended, restated, replaced, supplemented or otherwise modified from time to
time, the “Credit Agreement”; the terms defined therein and not
otherwise defined herein being used herein as therein defined), by and among
Borrowers, the Lenders that are signatories thereto, and Payee, as Arranger and
Agent:

 

From the date hereof and continuing on the same day
each month thereafter through August 31, 2012, Borrower shall pay interest
only on the outstanding principal amount hereof at a fixed per annum rate equal
to (x) twelve and one half percent (12.5%) from the date hereof through
and including August 31, 2011; and (y) fifteen and one half percent
(15.5%) thereafter, through the Maturity Date. From February 29, 2012 and
continuing on the last day of each month thereafter through the Maturity Date,
Borrower shall pay equal month installments of principal plus interest, in an
amount sufficient to fully amortize the balance due under this Note. On the
Maturity Date, all outstanding principal and interest, if any, and any unpaid
fees or cost, and all other amounts due under the Credit Agreement shall be
paid in full.

 

This Amended and Restated Term Loan A Note is issued
pursuant to and entitled to the benefits of the Credit Agreement, to which
reference is hereby made for a more complete statement of the terms and
conditions under which Term Loan A evidenced hereby was made and is to be
repaid, including but not limited to any default rates and other fees and
costs.

 

All payments of principal and interest in respect of
this Amended and Restated Term Loan A Note shall be made in lawful money of the
United States of America in same day funds to Agent’s Account for the account
of the Lender Group or at such other place as shall be designated in writing
for such purpose in accordance with the terms of the Credit Agreement. Payee
hereby agrees, by its acceptance hereof, that before disposing of this Amended
and

 

1

 

Restated Term Loan A Note or any part hereof it will make a notation
hereon of all principal payments previously made hereunder and of the date to
which interest hereon has been paid; provided, the failure to make a
notation of any payment made on this Amended and Restated Term Loan A Note
shall not limit or otherwise affect the obligations of the Borrowers hereunder
with respect to payments of principal of or interest on this Amended and
Restated Term Loan A Note.

 

This Amended and Restated Term Loan A Note is
subject to mandatory prepayment and to prepayment at the option of Borrowers,
each as provided in the Credit Agreement.

 

THIS AMENDED AND RESTATED TERM LOAN A NOTE AND THE
RIGHTS AND OBLIGATIONS OF THE BORROWERS AND PAYEE HEREUNDER SHALL BE GOVERNED
BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS
OF THE STATE OF CALIFORNIA, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES
THEREOF.

 

Upon the occurrence of an Event of Default, the
unpaid balance of the principal amount of this Amended and Restated Term Loan A
Note, together with all accrued and unpaid interest thereon, may become, or may
be declared to be, due and payable in the manner, upon the conditions and with
the effect provided in the Credit Agreement.

 

The terms of this Amended and Restated Term Loan A
Note are subject to amendment only in the manner provided in the Credit
Agreement.

 

No reference herein to the Credit Agreement and no
provision of this Amended and Restated Term Loan A Note or the Credit Agreement
shall alter or impair the obligations of Borrowers, which are absolute and
unconditional, to pay the principal of and interest on this Amended and
Restated Term Loan A Note at the place, at the respective times, and in the
currency herein prescribed.

 

Borrowers promise, jointly and severally, to pay all
costs and expenses, including reasonable attorneys’ fees, all as provided in
the Credit Agreement, incurred in the collection and enforcement of this
Amended and Restated Term Loan A Note. Borrowers and any endorsers of this
Amended and Restated Term Loan A Note hereby consent to renewals and extensions
of time at or after the maturity hereof, without notice, and hereby waive
diligence, presentment, protest, demand notice of every kind and, to the full
extent permitted by law, the right to plead any statute of limitations as a
defense to any demand hereunder.

 

Subject to the terms and conditions of that certain
Amendment Number 16 to Loan Documents dated as of even date herewith, by and
among Borrowers, Payee and , Private Equity Management Group LLC, as Payee’s
court-appointed receiver, this Amended and Restated Term Loan A Note completely
amends and restates that certain Term Loan A Note issued by Borrowers to Payee
on or about November 30, 2007 (the “Original Note”), which Original Note
shall, upon execution and delivery of this Amended and Restated Term Loan A
Note be of no further force or effect.

 

[Signature Page Follows]

 

2

 

IN WITNESS WHEREOF, the Borrowers have caused this
Amended and Restated Term Loan A Note to be duly executed and delivered by its
officer thereunto duly authorized as of the date and at the place first written
above.

 

	
  EMRISE CORPORATION

  	
   

  	
  EMRISE ELECTRONICS CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Carmine Oliva

  	
   

  	
  By:

  	
  /s/ Carmine Oliva

  
	
  Name:

  	
  Carmine Oliva

  	
   

  	
  Name: 

  	
  Carmine Oliva

  
	
  Title:

  	
  Chief Executive Officer

  	
   

  	
  Title: 

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  CXR LARUS CORPORATION

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Carmine Oliva

  	
   

  	
   

  
	
  Name: 

  	
  Carmine Oliva

  	
   

  	
   

  
	
  Title: 

  	
  President

  	
   

  	
   

  

 

[Signature Page to Amended and
Restated Term Loan A Note]

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