Document:

AMENDMENT NUMBER 6 TO RECEIVABLES PURCHASE AGREEMENT

Amendment Number 6 to Receivables Purchase Agreement

          This Amendment Number 6, dated as of April 28, 2005 (as amended, restated or otherwise modified from time to time, the "Amendment") to the Receivables Purchase Agreement, dated as of December 11, 1998 (the "Agreement"), is between and among Crompton Corporation (as successor by merger to Crompton & Knowles Corporation), as the Initial Collection Agent, Davis Standard Corporation, Crompton Corporation, and Crompton Manufacturing Company, Inc. (as successor-by-merger to Crompton Sales Company, Inc.) (each a "Seller" and collectively, the "Sellers"), Crompton & Knowles Receivables Corporation, a Delaware corporation ("Buyer") and ABN AMRO Bank N.V. (the "Agent").

W i t n e s s e t h :

          Whereas, the Sellers and the Buyer have previously entered into and are currently party to the Agreement;

          Whereas, the parties hereto desire to terminate Davis Standard Corporation ("Davis") as a Seller under the Agreement.

          Now, Therefore, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:

          Section 1.Defined Terms.  Unless otherwise amended by the terms of this Agreement, terms used in this Amendment shall have the meanings assigned in the Agreement.

          Section 2.Amendments to Agreement.

          (a)     On the date hereof, Buyer has agreed to reconvey all of its right, title and interest in and to all Receivables originated by Davis.  As contemplated by Section 8.1 of the Agreement, each of the parties hereto agrees that effective as of the date hereof, (i) Davis shall no longer sell, transfer, assign, set over or otherwise convey, and shall have no further obligation to sell, transfer, assign, set over or otherwise convey, to Buyer any Receivables and other Related Purchased Assets originated by Davis and (ii) any reference to the term "Seller" in the Agreement shall no longer include Davis.  Each of the parties hereto hereby agrees to waive the written notice requirements set forth in Section 8.1 of the Agreement.

          (b)     Each of the parties hereto also agrees that from time to time, at the expense of the requesting party, it will promptly, upon reasonable request and at the expense of the requesting party, execute and deliver all further instruments and documents, and take all further action, in order to implement the terms of this Amendment including, with limitation:

                    (i)     executing and filing such UCC termination statements, and such other instruments or notices, Davis may reasonably determine to be necessary or appropriate, and

                     (ii)     notifying the Lockbox Banks with respect to Lockboxes and Lockbox Accounts to which the Receivables and the Related Assets originated by Davis are remitted of purchase described herein.

          Section 3.     Effectiveness of Agreement.  Except as expressly amended by the terms of this Amendment, all terms and conditions of the Agreement, as amended, shall remain in full force and effect.

          Section 4.     Execution in Counterparts, Effectiveness.  This Amendment may be executed by the parties hereto in several counterparts, each of which shall be executed by the parties hereto and be deemed an original and all of which shall constitute together but one and the same agreement.

          Section 5.     Governing Law.  This Agreement shall be construed in accordance with the laws of the State of New York, without reference to conflict of law principles, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with the laws of the State of New York.

[Signatures Follow]

          In Witness Whereof, the Initial Collection Agent, the Sellers, the Buyer and the Agent have caused this Amendment Number 6 to the Receivables Purchase Agreement to be executed by their respective officers thereunto duly authorized as of the day and year first above written.
Crompton Corporation (successor-in-interest to CK Witco), as Initial Collection Agent and as Seller

By:

Title:

Address:Benson Road

Middlebury, Connecticut  06749

Davis Standard Corporation, as Seller

By:

Title:

Address:1 Extrusion Drive 

Pawcatuck, Connecticut 06379

Crompton Manufacturing  Company, Inc. (as successor-by-merger to Crompton Sales Company, Inc.), as Seller

By:

Title:

Address:Benson Road

Middlebury, Connecticut  06749

Crompton & Knowles Receivables Corporation, as the Buyer

By:

Title:

Address:Benson Road 

Middlebury, Connecticut 06749

ABN AMRO Bank N.V., as Agent

By:

Title:

By:

Title:

Address:Structured Finance, Asset Securitization 

540 West Madison Street

27th Floor

Chicago, Illinois 60661

Attention: Administrator-Amsterdam

Telephone:(312) 904-6263

Telecopy:(312) 992-1527FIRST AMENDMENT

Amendment

Dated as of April 28, 2005

to

Second Amended and Restated

Receivables Sale Agreement

Dated as of August 16, 2004

          This Amendment (the "Amendment"), dated as of April 28, 2005, is entered into among Crompton & Knowles Receivables Corporation (the "Seller"), Crompton Corporation (the "Initial Collection Agent"), Amsterdam Funding Corporation, a Delaware corporation ("Amsterdam"), ABN AMRO Bank N.V., as a liquidity provider to Amsterdam (the "Liquidity Provider") and ABN AMRO Bank N.V., as agent for Amsterdam and the Liquidity Provider (the "Agent").

          Reference is hereby made to that certain Second Amended and Restated Receivables Sale Agreement, dated as of August 16, 2004 (as amended, supplemented or otherwise modified through the date hereof, the "Sale Agreement"), among the Seller, the Initial Collection Agent, Amsterdam, the Liquidity Provider and the Agent.  Terms used herein and not otherwise defined herein which are defined in the Sale Agreement or the other Transaction Documents (as defined in the Sale Agreement) shall have the same meaning herein as defined therein.

          For good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows:

          Section 1.Upon execution by the parties hereto in the space provided for that purpose below, the Sale Agreement shall be, and it hereby is, amended as follows:

               (a)     The defined term "Concentration Limit" appearing in Schedule I of the Sale Agreement is hereby amended in its entirety and as so amended shall read as follows
"Concentration Limit" means with respect to any Obligor (other than an Obligor on Foreign Receivables described in subclause (II) of clause (i) of the definition of Eligible Receivables) (i) with senior unsecured long-term indebtedness rated A (or higher) by S&P and A2 (or higher) by Moody's, an amount not to exceed 6.0% of the Eligible Receivables Balance, (ii) with senior unsecured long-term indebtedness rated at least BBB- but lower than A by S&P and at least Baa3 but lower than A2 by Moody's, an amount not to exceed 4.0% of the Eligible Receivables Balance and (iii) with respect to all other Obligors, an amount not to exceed 2.0% of the Eligible Receivables Balance.

               (b)     The defined term "Defaulted Receivable" appearing in Schedule I of the Sale Agreement is hereby amended in its entirety and as so amended shall read as follows:
"Defaulted Receivable" means any Receivable (a) on which any amount is unpaid more than 90 days past its original due date, or (b) the Obligor on which has suffered a Bankruptcy Event.

               (c)     The defined term "Delinquent Receivable" appearing in Schedule I of the Sale Agreement is hereby amended in its entirety and as so amended shall read as follows:
"Delinquent Receivable" means any Receivable (other than a Charge-Off or Defaulted Receivable) on which any amount is unpaid more than 31 days past its original due date.

               (d)     The reference to "15.0%" appearing in subclause (a) of the defined term "Loss Reserve" appearing in Schedule I of the Sale Agreement is deleted and replaced with "12.0%."

               (e)      The defined term "Originators" appearing in Schedule I of the Sale Agreement is hereby amended in its entirety and as so amended shall read as follows:
"Originators" means each of Crompton Manufacturing Company, Inc. (as successor-by-merger to Crompton Sales Company, Inc.) and Crompton Corporation.

               (f)     Clause (f) of the defined term "Termination Event" appearing in Schedule I of the Sale Agreement is hereby amended in its entirety and as so amended shall read as follows:
          (f)     the average of the Delinquency Ratios as of the end of each of the most recent three calendar months exceeds 6.0%, the average of the Default Ratios as of the end of each of the most recent three calendar months exceeds 3.0%, the Dilution Ratio at the end of any calendar month measured for the three month calendar period then ending exceeds 6.0% or the Loss-to-Liquidation Ratio at the end of any calendar month measured for the three month calendar period then ending exceeds 1.0%; or

               (g)     Exhibit D to the Sale Agreement is hereby amended in its entirety and as so amended shall read as set forth on Exhibit D attached hereto.

          Section 2.The Sale Agreement, as amended and supplemented hereby or as contemplated herein, and all rights and powers created thereby and thereunder or under the other Transaction Documents and all other documents executed in connection therewith, are in all respects ratified and confirmed.  From and after the date hereof, the Sale Agreement shall be amended and supplemented as herein provided, and, except as so amended and supplemented, the Sale Agreement, each of the other Transaction Documents and all other documents executed in connection therewith shall remain in full force and effect.  By executing this Amendment, Crompton Corporation confirms that it is the "Guarantor" under the Limited Guaranty and that the Limited Guaranty and Crompton Corporation's obligations thereunder remain in full force and effect.

          Section 3.This Amendment shall become effective only once the Agent has received executed counterparts of this Amendment.  For ease of administration, this price shall be paid directly by Davis to Windmill.

          Section 4.This Amendment may be executed in two or more counterparts, each of which shall constitute an original but both or all of which, when taken together, shall constitute but one instrument.

          Section 5.This Amendment shall be governed and construed in accordance with the internal laws of the State of New York.

          In Witness Whereof, the parties have caused this Amendment to be executed and delivered by their duly authorized officers as of the date first above written.
ABN AMRO Bank N.V., as the Agent and as the Liquidity Provider

By:

Title:

By:

Title:

Amsterdam Funding Corporation

By:

Title:

Crompton & Knowles Receivables Corporation

By:

Title:

 

Crompton Corporation

By:

Title:

Exhibit D

Addresses and Names of Seller and Originators

          1.Locations.  (a) The chief executive office of the Seller and each Originator are located at the following address:
Crompton & Knowles Receivables Corporation

Benson Road

Middlebury, Connecticut  06749

Crompton Corporation

Benson Road

Middlebury, Connecticut  06749

Crompton Manufacturing Company, Inc.

Benson Road

Middlebury, Connecticut  06749

No such address was different at any time since July 1, 2001.

          (b)     The following are all the locations here the Seller and each Originator directly or through its agents maintain any Records:
Benson Road

Middlebury, Connecticut  06749

World Headquarters

Benson Road

Middlebury, Connecticut  06749

          2.     Names.  The following is list of all names (including trade names or similar appellations) used by the Seller and each Originator or any of its divisions or other business units:
None.

          3.     Jurisdiction of Organization and Organizational Identification Number:
Crompton & Knowles Receivables Corporation2971181

Delaware Corporation

Crompton Corporation3046078

Delaware Corporation

Crompton Manufacturing Company, Inc.0100271711

New Jersey Corporation

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