Document:

Exhibit 4.21

 

JOINDER AGREEMENT

 

THIS JOINDER AGREEMENT (this “Agreement”), dated as of December 4, 2013, is entered into between Chemical Specialists and Development, LLC, a Delaware limited liability company, (“CSD”), Startex Chemical, LLC, a Delaware limited liability company (“Startex”), and Startex Distribution West, LLC, a Delaware limited liability company (“Startex West”, and, together with CSD and Startex, the “New Subsidiaries”), and Bank of America, N.A., as Agent, under that certain Credit Agreement, dated as of March 31, 2011, among Nexeo Solutions, LLC, a Delaware limited liability company (the “Company”), each domestic subsidiary of the Company from time to time party thereto, Nexeo Solutions Canada Corp., a British Columbia corporation (the “Canadian Borrower”), Nexeo Solutions Holdings, LLC, a Delaware limited liability company (“Holdings”), Nexeo Solutions Sub Holding Corp., a Delaware corporation (“Sub Holdco”), the Lenders parties thereto, and Bank of America, N.A., as administrative agent and collateral agent for the Lenders thereunder (the “Agent”) (as amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”). All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement.

 

Each New Subsidiary and the Agent, for the benefit of the Lenders, hereby agree as follows:

 

1.                                      Each New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, such New Subsidiary will be deemed to be a Loan Party under the Credit Agreement and a U.S. Loan Guarantor for all purposes of the Credit Agreement and shall have all of the obligations of a U.S. Loan Party and a U.S. Loan Guarantor thereunder as if it had executed the Credit Agreement.  Each New Subsidiary hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Credit Agreement, including without limitation (a) all of the representations and warranties of the Loan Parties set forth in Article III of the Credit Agreement (to the extent made or deemed made on or after the effective date hereof), (b) all of the covenants set forth in Articles V and VI of the Credit Agreement, (c) all of the terms and conditions set forth in the Credit Agreement to the same extent as each of the other U.S. Borrowers as if it had been a party thereto as a U.S. Borrower and does hereby assume each of the obligations imposed upon a U.S. Borrower under the Credit Agreement, and (d) all of the guaranty obligations set forth in Article X of the Credit Agreement. Without limiting the generality of the foregoing terms of this paragraph 1, each New Subsidiary, subject to the limitations set forth in Section 10.09 of the Credit Agreement, hereby absolutely and unconditionally guarantees, jointly and severally with the other Loan Guarantors, to the Agent and the Lenders, the prompt payment of the Guaranteed Obligations in full when due (whether at stated maturity, upon acceleration or otherwise) to the extent of and in accordance with Article X of the Credit Agreement.)

 

2.                                      If required, each New Subsidiary is, simultaneously with the execution of this  Agreement, executing and delivering such Collateral Documents (and such other documents and instruments) as requested by the Agent in accordance with the Credit Agreement including, without limitation, a joinder agreement with respect to the Security Agreement and, if applicable, the Canadian Guarantee Agreement.

 

 

3.                                      Each New Subsidiary hereby agrees that each reference in the Credit Agreement to a “U.S. Loan Guarantor” shall also mean and be a reference to such New Subsidiary.

 

4.                                      Each New Subsidiary hereby waives acceptance by the Agent and the Lenders of the guaranty by such New Subsidiary upon the execution of this Agreement by such New Subsidiary.

 

5.                                      This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement.

 

6.                                      THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

[Signature page follows]

 

 

IN WITNESS WHEREOF, each New Subsidiary has caused this Agreement to be duly executed by its authorized officer, and the Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written.

 

	
 
    	
NEW SUBSIDIARIES:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CHEMICAL SPECIALISTS AND DEVELOPMENT, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ross Crane
    
	
 
    	
Name:
    	
Ross Crane
    
	
 
    	
Title:
    	
Executive Vice   President, Chief Financial Officer and Assistant Treasurer
    
	
 
    	
 
    
	
 
    	
STARTEX CHEMICAL, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ross Crane
    
	
 
    	
Name:
    	
Ross Crane
    
	
 
    	
Title:
    	
Executive Vice   President, Chief Financial Officer and Assistant Treasurer
    
	
 
    	
 
    
	
 
    	
STARTEX DISTRIBUTION WEST, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ross Crane
    
	
 
    	
Name:
    	
Ross Crane
    
	
 
    	
Title:
    	
Executive Vice   President, Chief Financial Officer and Assistant Treasurer
    

 

[Signature Page to Joinder to ABL Credit Agreement]

 

 

Acknowledged and accepted:

 

	
BANK OF AMERICA,   N.A., as Agent
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Robert Mahoney
    	
 
    
	
Name:
    	
Robert   Mahoney
    	
 
    
	
Title:
    	
Senior Vice   President
    	
 
    

 

[Signature Page to Joinder to ABL Credit Agreement]Exhibit 4.22

 

JOINDER AGREEMENT

 

THIS JOINDER AGREEMENT (this “Agreement”), dated as of December 4, 2013, is entered into between CHEMICAL SPECIALISTS AND DEVELOPMENT, LLC, a Delaware limited liability company (“Chemical Specialists”), STARTEX CHEMICAL, LLC, a Delaware limited liability company (“Startex”), and STARTEX DISTRIBUTION WEST, LLC, a Delaware limited liability company (“Startex West”, and, together with Chemical Specialists and Startex, the “New Subsidiaries”), and BANK OF AMERICA, N.A., as Agent, under that certain Credit Agreement dated as of March 9, 2011 (as amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among NEXEO SOLUTIONS, LLC, a Delaware limited liability company (the “Borrower”), NEXEO SOLUTIONS HOLDINGS LLC, a Delaware limited liability company (“Holdings”), NEXEO SOLUTIONS SUB HOLDING CORP., a Delaware corporation (“Sub Holdco”), certain Subsidiaries of the Borrower party thereto from time to time (each a “Subsidiary Grantor”), the Lenders party thereto from time to time, and BANK OF AMERICA, N.A, in its capacity as collateral agent for the Secured Parties (in such capacity, together with its successors in such capacity, the “Agent”). All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement. The New Subsidiaries and the Agent, for the benefit of the Lenders, hereby agree as follows:

 

1.                                      Each New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, such New Subsidiary will be deemed to be a Subsidiary Grantor under the Pledge and Security Agreement, dated as of March 31, 2011, among the Borrower, Holdings, Sub Holdco, and certain Subsidiaries of the Company from time to time party thereto, in favor of the Agent for the benefit of the Secured Parties (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) for all purposes of the Security Agreement and shall have all of the obligations of a Subsidiary Grantor thereunder as if it had executed the Security Agreement, including without limitation the grant pursuant to Article II of the Security Agreement of a security interest to the Agent for the benefit of the Secured Parties in the property and property rights constituting Collateral (as defined in Article II of the Security Agreement) whether now owned by or owing to, or hereafter acquired by or arising in favor of, such Subsidiary Guarantor, to secure the prompt and complete payment and performance of all Secured Obligations, all with the same force and effect as if such New Subsidiary were a signatory to the Security Agreement.

 

2.                                      Each New Subsidiary hereby agrees that each reference in the Security Agreement to a Subsidiary Grantor shall also mean and be a reference to such New Subsidiary.

 

3.                                      Attached to this Agreement are duly completed schedules and certain exhibits (the “Supplemental Schedules”) to the Security Agreement. Each New Subsidiary represents and warrants that the information contained on each of the Supplemental Schedules with respect to such New Subsidiary and its properties and affairs is true, complete and accurate as of the date hereof.

 

4.                                      Each New Subsidiary hereby waives acceptance by the Agent and the Lenders of this Agreement and acknowledges that the Secured Obligations are and shall be deemed to be incurred, and that credit extensions under the Credit Agreement, Cash Management Services,

 

 

and Hedging Obligations are made and maintained in reliance on this Agreement and such New Subsidiary’s joinder as a party to the Security Agreement as herein provided.

 

5.                                      This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement.

 

6.                                      THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

[Signature page follows]

 

 

IN WITNESS WHEREOF, each New Subsidiary has caused this Agreement to be duly executed by its authorized officer, and the Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written.

 

	
 
    	
NEW SUBSIDIARIES:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CHEMICAL SPECIALISTS AND DEVELOPMENT, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ross Crane
    
	
 
    	
Name:
    	
Ross Crane
    
	
 
    	
Title:
    	
Executive Vice   President, Chief Financial Officer and Assistant Treasurer
    
	
 
    	
 
    
	
 
    	
STARTEX CHEMICAL, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ross Crane
    
	
 
    	
Name:
    	
Ross Crane
    
	
 
    	
Title:
    	
Executive Vice   President, Chief Financial Officer and Assistant Treasurer
    
	
 
    	
 
    
	
 
    	
STARTEX DISTRIBUTION WEST, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Ross Crane
    
	
 
    	
Name:
    	
Ross Crane
    
	
 
    	
Title:
    	
Executive Vice   President, Chief Financial Officer and Assistant Treasurer
    

 

[Signature Page to Joinder to TLB Security Agreement]

 

 

Acknowledged and accepted:

 

	
BANK OF AMERICA,   N.A., as Agent
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Aamir Saleem
    	
 
    
	
Name:
    	
Aamir Saleem
    	
 
    
	
Title:
    	
Vice President
    	
 
    

 

[Signature Page to Joinder to TLB Security Agreement]

 

 

SCHEDULE 1

 

Excluded Accounts

 

1. Payroll, employee benefits, trust or tax withholding accounts funded in the ordinary course of business

 

	
Owner
    	
 
    	
Bank Name
    	
 
    	
Type of Account
    	
 
    	
Account Number
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
Wells Fargo
    	
 
    	
Payroll
    	
 
    	
[—]
    

 

2. Petty cash accounts funded in the ordinary course of business

 

None.

 

3. Designated Disbursement Accounts

 

	
Owner
    	
 
    	
Bank Name
    	
 
    	
Type of Account
    	
 
    	
Account Number
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
Bank of America
    	
 
    	
Disbursement   Account
    	
 
    	
[—]
    

 

4. Foreign bank accounts

 

None.

 

 

EXHIBIT A

 

Type of Organization, Jurisdiction of Organization, Organizational Identification 
 Number, Federal Employer Identification Number, Chief Executive Office, Locations

 

I.                                        The corporate name, jurisdiction of organization, organizational identification number and federal employer identification number of each Grantor is as follows:(1)

 

	
Grantor
    	
 
    	
Jurisdiction of
   Organization
    	
 
    	
Organizational
   Identification Number
    	
 
    	
Federal Employee
   Identification Number
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
DE
    	
 
    	
5441662
    	
 
    	
74-1864542
    
	
Startex Chemical,   LLC
    	
 
    	
DE
    	
 
    	
5441648
    	
 
    	
76-0171628
    
	
Startex   Distribution West, LLC
    	
 
    	
DE
    	
 
    	
5441656
    	
 
    	
27-0319960
    

 

II.                                   Each Grantor’s mailing address and the location of its place of business (if it has only one) or its chief executive office (if it has more than one place of business), is as follows:

 

	
Grantor
    	
 
    	
Mailing Address
    	
 
    	
Chief Executive Officer
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
3 Waterway Square   Place, Suite 1000
   The Woodlands, TX 77380
    	
 
    	
3 Waterway Square   Place, Suite 1000
   The Woodlands, TX 77380
    
	
Startex Chemical,   LLC
    	
 
    	
3 Waterway Square   Place, Suite 1000
   The Woodlands, TX 77380
    	
 
    	
3 Waterway Square   Place, Suite 1000
   The Woodlands, TX 77380
    
	
Startex   Distribution West, LLC
    	
 
    	
3 Waterway Square   Place, Suite 1000
   The Woodlands, TX 77380
    	
 
    	
3 Waterway Square   Place, Suite 1000
   The Woodlands, TX 77380
    

 

(1)  Pending completion of the acquisition and all conversions contemplated therein.

 

 

III.                              (a) Each location that is owned by a Grantor where Collateral is located as of the date hereof (except for Inventory in transit) is as follows:

 

	
Grantor
    	
 
    	
Owned Location
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
9733 Meador Rd.,   Conroe, Texas

218 Springfield   Rd., Baton Rouge, LA

3286 S. Crystal   Spring Circle, Conroe, Texas

3290 S. Crystal   Spring Circle, Conroe, Texas
    
	
Startex   Distribution West, LLC
    	
 
    	
 
    

 

(b) Each location that is leased by a Grantor where Collateral is located as of the date hereof (except for Inventory in transit) is as follows:

 

	
Grantor
    	
 
    	
Leased Location
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
4012 Destrehan,   Harvey, LA

1404 S. Houston   Road, Pasadena, TX

4500 Hugh Howell   Rd, Suite 705, Tucker, GA
    
	
Startex   Distribution West, LLC
    	
 
    	
11903 Pike St.,   Santa Fe Springs, CA
    

 

(c) Each location where Collateral is held in a public warehouse or is otherwise held by a bailee or on consignment as of the date hereof (except for Inventory in transit) is as follows:

 

	
Location
    	
 
    	
Owner of Inventory
    
	
NYNAS   Westway
   1800 West Loop South, Suite 1200,
   Houston, Texas, USA
    	
 
    	
Chemical   Specialists and Development, LLC
    
	
Titan   Terminal
   4570 Ardine Street, South Gate, California,
   USA
    	
 
    	
Chemical   Specialists and Development, LLC
    
	
Price   Transfer
   2790 El Del Amo Blvd., Rancho
   Dominguez, California. USA
    	
 
    	
Chemical   Specialists and Development, LLC
    
	
LMD   Logistics
   3136 E. Victoria, Rancho Dominguez,
   California, USA
    	
 
    	
Chemical   Specialists and Development, LLC
    

 

 

EXHIBIT B

 

Bailees, Warehousemen and Third Party Possessors of Collateral

 

The following bailees, warehouseman and other third parties are in possession or control of Inventory of a Grantor (except for Inventory in transit):

 

	
Name and
   Address of
   Party
    	
 
    	
Nature of Relationship
    	
 
    	
Value of Inventory
    	
 
    	
Owner of Inventory
    
	
NYNAS   Westway

1800 West   Loop South, Suite 1200, Houston, Texas, USA
    	
 
    	
Perform lab   testing for customer terminal with lab equipment owned by Chemical   Specialists and Development, LLC
    	
 
    	
$
    	
178,700
    	
 
    	
Chemical   Specialists and Development, LLC
    
	
Titan   Terminal

4570 Ardine   Street, South Gate, California, USA
    	
 
    	
Vendor Warehouse
    	
 
    	
$
    	
0
    	
 
    	
Chemical   Specialists and Development, LLC
    
	
Price   Transfer

2790 El Del   Amo Blvd., Rancho Dominguez, California. USA
    	
 
    	
Vendor Warehouse
    	
 
    	
$
    	
9,084
    	
 
    	
Chemical   Specialists and Development, LLC
    
	
LMD   Logistics

3136 E.   Victoria,
   Rancho Dominguez,
   California, USA
    	
 
    	
Vendor Warehouse
    	
 
    	
$
    	
35,185
    	
 
    	
Chemical   Specialists and Development, LLC
    

 

 

EXHIBIT C

 

Letter-of-Credit Rights and Chattel Paper

 

None.

 

 

EXHIBIT D

 

United States Federal Intellectual Property Registrations and Applications

 

I.                                        Patents and Patent Applications:

 

None.

 

II.                                   Trademark Registrations and Applications:

 

	
Trademark
    	
 
    	
Owner
    	
 
    	
Federal Registration No.
    
	
PRIST
    	
 
    	
Chemical Specialists   and Development, LLC
    	
 
    	
3,256,175
    
	
STARTEX QUALITY   PRODUCTS with design
    	
 
    	
Startex Chemical,   LLC
    	
 
    	
1,614,531
    
	
STARTEX
    	
 
    	
Startex Chemical,   LLC
    	
 
    	
1,614,532
    

 

III.                              Copyright Registrations:

 

None.

 

 

EXHIBIT E

 

Commercial Tort Claims

 

None.

 

 

EXHIBIT F

 

Pledged Collateral

 

	
Name of Issuer
    	
 
    	
Record Owner
    	
 
    	
Percentage of Total Issued and
   Outstanding Equity Interests
    	
 
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
Nexeo Solutions,   LLC
    	
 
    	
100
    	
%
    
	
Startex Chemical,   LLC
    	
 
    	
Chemical   Specialists and Development, LLC
    	
 
    	
100
    	
%
    
	
Startex   Distribution West, LLC
    	
 
    	
Chemical   Specialists and Development, LLC
    	
 
    	
100
    	
%
    

 

 

EXHIBIT K

 

FCC Licenses

 

None.

 

 

EXHIBIT G

 

UCC Filing Offices

 

	
Grantor
    	
 
    	
UCC Filing Office
    
	
Chemical   Specialists and Development, LLC
    	
 
    	
Delaware
    
	
Startex Chemical,   LLC
    	
 
    	
Delaware
    
	
Startex   Distribution West, LLC
    	
 
    	
Delaware

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]