Document:

Exhibit 4.1

 

THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY (AS DEFINED IN THE INDENTURE) OR A NOMINEE THEREOF. THIS GLOBAL SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR ITS NOMINEE ONLY IN LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESS DEPOSITARY.

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY (AS DEFINED BELOW) OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY IS ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) AND ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

 

	
REGISTERED
    	
 
    	
REGISTERED
    

 

NORDSTROM, INC.

 

4.00% Senior Note due 2021

 

	
No.
    	
 
    	
Principal Amount
    
	
CUSIP No.
    	
 
    	
 
    

 

Nordstrom, Inc., a Washington corporation (hereinafter called the “Company,” which term includes any successor Person under the Indenture referred to below), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of                                        U.S. Dollars (U.S.$                    ) on October 15, 2021 and to pay interest thereon from October 11, 2011 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on April 15 and October 15 of each year (each an “Interest Payment Date”), commencing April 15, 2012 at the rate of 4.00% per annum, until the principal hereof is paid or duly made available for payment. The interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the April 1 or October 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date.  Any such interest which is payable, but is not punctually paid or

 

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duly provided for, on any Interest Payment Date shall forthwith cease to be payable to the registered Holder hereof on the relevant Regular Record Date by virtue of having been such Holder, and may be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Company, notice whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

 

Payment of the principal of and the interest on this Note will be made at the office of the Trustee (as defined below) at Wells Fargo Bank, National Association, 45 Broadway, 14th Floor, New York, New York 10006, Attention: Corporate Trust Services — Administrator for Nordstrom, Inc., in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company, interest may be paid by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register, provided, further, that payment to DTC or any successor depositary may be made by wire transfer to the account designated by DTC or such successor depositary in writing.

 

This Note is one of a duly authorized issue of securities of the Company (herein called the “Notes”), issued and to be issued in one or more series under an Indenture, dated as of December 3, 2007 (herein called, together with all indentures supplemental thereto, the “Indenture”) between the Company and Wells Fargo Bank, National Association, as Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, limited (subject to exceptions provided in the Indenture) to the aggregate principal amount specified in the Officers’ Certificate dated October 11, 2011 establishing the terms of the Notes pursuant to the Indenture.

 

Prior to July 15, 2021, the Company may at its option redeem this Note, at any time in whole or from time to time in part, at a redemption price equal to the greater of: (i) 100% of the principal amount of the Notes to be redeemed; and (ii) the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined below), plus 35 basis points, plus, in each case, the accrued and unpaid interest on the Notes being redeemed to, but not including, the date of redemption.

 

In addition, at any time on or after July 15, 2021, the Company may redeem some or all of the Notes at a price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the date of redemption.

 

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For purposes of the immediately preceding paragraph, the following defined terms shall have the meanings specified:

 

“Comparable Treasury Issue” means the United States Treasury security selected by the Quotation Agent as having a maturity comparable to the remaining term (as measured from the date of redemption) of the series of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such Notes.

 

“Comparable Treasury Price” means, with respect to any redemption date, (i) the average of three Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (ii) if the Quotation Agent obtains fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation.

 

“Quotation Agent” means any Reference Treasury Dealer appointed by the Company.

 

“Reference Treasury Dealer” means (i) each of Merrill Lynch, Pierce, Fenner & Smith Incorporated and a Primary Treasury Dealer (as defined herein) selected by Wells Fargo Securities, LLC (or their respective affiliates that are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another Primary Treasury Dealer, and (ii) any other Primary Treasury Dealers selected by the Company.

 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third business day preceding such redemption date.

 

“Treasury Rate” means, with respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date.

 

Notwithstanding the foregoing, installments of interest on this Note that are due and payable on Interest Payment Dates falling on or prior to a redemption date will be payable on the Interest Payment Date to the registered Holder hereof as of the close of business on the relevant Regular Record Date.

 

Notice of any redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder of the Notes to be redeemed by the Company or by the Trustee on behalf of the Company; provided that notice of redemption may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Notes.

 

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Unless the Company defaults in payment of the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or portions thereof called for redemption. If less than all of the Notes are to be redeemed, the Notes to be redeemed shall be selected by lot by DTC, in the case of Notes represented by a Global Security, or by the Trustee by a method the Trustee deems to be fair and appropriate, in the case of Notes that are not represented by a Global Security.

 

If a Change of Control Repurchase Event (as defined below) occurs, unless the Company has exercised its right to redeem the Notes as described above, the Company will make an offer to each Holder of Notes to repurchase all or any part (no Note of a principal amount of $2,000 or less will be repurchased in part) of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of Notes to be repurchased plus any accrued and unpaid interest on such Notes to the date of purchase.

 

Within 30 days following any Change of Control Repurchase Event or, at the Company’s option, prior to any Change of Control (as defined below), but after the public announcement of an impending Change of Control, the Company will mail a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase Notes on the payment date specified in the notice, which date will be no earlier than 30 days and no later than 60 days from the date such notice is mailed. The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice.

 

The Company will comply with the requirements of Rule 14e-1 under the Securities Exchange Act of 1934, as amended, or the Exchange Act, and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the Notes, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the Notes by virtue of such conflict.

 

On the Change of Control Repurchase Event payment date, the Company will, to the extent lawful:

 

(i)    accept for payment all Notes or portions of Notes (in integral multiples of $1,000) properly tendered pursuant to its offer;

 

(ii)   deposit with the Paying Agent an amount equal to the aggregate purchase price in respect of all Notes or portions of Notes properly tendered; and

 

(iii)  deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate stating the aggregate principal amount of Notes being purchased by the Company.

 

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The Paying Agent will promptly mail to each Holder of Notes properly tendered the purchase price for the Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of any Notes surrendered; provided, that each new Note will be in a minimum principal amount of $2,000 and integral multiples of $1,000 in excess thereof.

 

The Company will not be required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such third party purchases all Notes properly tendered and not withdrawn under its offer.

 

“Below Investment Grade Rating Event” means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below Investment Grade by each of the Rating Agencies on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of a Change of Control (which period shall be extended so long as the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided that a Below Investment Grade Rating Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event hereunder) if any of the Rating Agencies making the reduction in rating to which this definition would otherwise apply does not announce or publicly confirm or inform the Trustee in writing at its request that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Rating Event).

 

“Change of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of its properties or assets and those of the Company’s subsidiaries taken as a whole to any “person” or “group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company or one of its subsidiaries; (2) the adoption of a plan relating to the Company’s liquidation or dissolution; (3) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors; or (4) the consummation of any transaction or series of related transactions (including, without limitation, any merger or consolidation) the result of which is that any “person” or “group” (as that term is used in Section 13(d)(3) of the Exchange Act), other than the Company or any of its wholly-owned subsidiaries, becomes the beneficial owner, directly or indirectly, of more than 50% of the then outstanding number of shares of its Voting Stock, measured by voting power rather than number of shares.

 

“Change of Control Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Rating Event.

 

“Continuing Directors” means, as of any date of determination, any member of the Company’s Board of Directors who (1) was a member of such Board of Directors on the date

 

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of the issuance of the Notes; or (2) was nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a director).

 

“Fitch” means Fitch Ratings.

 

“Investment Grade” means a rating of BBB- or better by Fitch (or its equivalent under any successor rating categories of Fitch), Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s) and BBB- or better by S&P (or its equivalent under any successor rating categories of S&P) or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company.

 

“Moody’s” means Moody’s Investors Service Inc.

 

“Rating Agency” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company as a replacement agency for Fitch, Moody’s or S&P, as the case may be.

 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.

 

“Voting Stock” means, with respect to any person, capital stock of any class or kind the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such person, even if the right so to vote has been suspended by the happening of such a contingency.

 

The Notes are not subject to any sinking fund.

 

The Indenture contains provisions for Defeasance at any time of the entire indebtedness of this Note or certain restrictive covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth in the Indenture.

 

If an Event of Default with respect to Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the effect provided in the Indenture.

 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of each series affected thereby.  The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of any series at the time Outstanding, on behalf of

 

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the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences.  Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note.

 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein and in the Indenture prescribed.

 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered in the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

 

The Notes are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof.  Subject to certain limitations therein set forth in the Indenture and in this Note, the Notes are exchangeable for a like aggregate principal amount of Notes of this series in different authorized denominations, as requested by the Holders surrendering the same.

 

No service charge by the Company shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith, other than in certain cases provided in the Indenture.

 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

 

The Indenture contains provisions whereby (i) the Company may be discharged from its obligations with respect to the Notes (subject to certain exceptions) or (ii) the Company may be released from its obligation under specified covenants and agreements in the Indenture, in each case if the Company irrevocably deposits with the Trustee money or U.S. Government Obligations sufficient to pay and discharge the entire indebtedness on all Notes of this series, and satisfies certain other conditions, all as more fully provided in the Indenture.

 

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This Note shall be governed by and construed in accordance with the laws of the Sate of New York.

 

All terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee under the Indenture by the manual signature of one of its authorized signatories, this Note shall not be entitled to any benefits under the Indenture or be valid or obligatory for any purpose.

 

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IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

 

 

Dated:

 

	
 
    	
 
    	
NORDSTROM, INC.
    
	
 
    	
 
    	
 
    
	
[Seal]
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Attest:
    	
 
    	
 
    	
By:
    	
 
    
	
 
    	
Name: 
    	
Robert B. Sari
    	
 
    	
Name:
    	
Michael G. Koppel
    
	
 
    	
Title:
    	
Executive   Vice President,
    	
 
    	
Title:
    	
Executive   Vice President and
    
	
 
    	
 
    	
General   Counsel and
    	
 
    	
 
    	
Chief   Financial Officer
    
	
 
    	
 
    	
Secretary
    	
 
    	
 
    
							

 

 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

 

 

Dated:

 

	
 
    	
WELLS FARGO BANK,
   NATIONAL ASSOCIATION, as
   Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Signatory
    

 

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations.

 

	
TEN   COM — 
    	
as   tenants in common
    	
 
    	
UNIF   GIFT MIN ACT - . . .Custodian..
    
	
TEN   ENT - 
    	
as   tenants by the entireties
    	
 
    	
 
    	
(Cust)   (Minor)
    
	
JT   TEN - 
    	
as   joint tenants with right of survivorship and not as tenants in common
    	
 
    	
 
    	
Under   Uniform Gifts to
    
	
 
    	
 
    	
Minor   Act
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
                                      
    	
 
    
	
 
    	
 
    	
(State)
    	
 
    
	
 
    	
 
    

Additional abbreviations may also be used though not in the above list.

 

 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

 

 

(Please insert Social Security

or other identifying

number of Assignee)

 

 

 

(Please print or typewrite name and address including postal zip code of Assignee)

 

 

the within Note of NORDSTROM, INC. and does hereby irrevocably constitute and appoint                                                       attorney to transfer the said Note on the books of the Company, with full power of substitution in the premises.

 

	
Dated:
    	
 
    	
 
    	
 
    

 

[NOTICE:  The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular, without alteration or enlargement or any change whatever.]Exhibit 10.1

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT dated as of October 5, 2011 (the “Amendment”) is entered into among SPX Corporation, a Delaware corporation (the “Parent Borrower”), the Foreign Subsidiary Borrowers, the Subsidiary Guarantors, the Lenders party hereto, Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent and Bank of America, N.A., as Administrative Agent.  All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Parent Borrower, the Lenders, Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent and Bank of America, N.A., as Administrative Agent entered into that certain Credit Agreement dated as of June 30, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”);

 

WHEREAS, the parties hereto agree to amend the Credit Agreement as set forth below;

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.             Amendments.  The Credit Agreement is hereby amended as follows:

 

(a)           The definition of “Incremental Facility Activation Notice” in Section 1.1 of the Credit Agreement is hereby amended to read as follows:

 

“Incremental Facility Activation Notice”: a notice substantially in the form of Exhibit G, together with such changes to such form as may be agreed to by the applicable Borrower and the Lenders party to such notice.

 

(b)           The following definition of “Incremental Term Loan X” is hereby added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order to read as follows:

 

“Incremental Term Loan X”:  the Incremental Term Loans in the aggregate principal amount of $300,000,000 made to the Parent Borrower pursuant to the Incremental Facility Activation Notice (Incremental Term Loan X) dated as of October 5, 2011 among the Parent Borrower and the Lenders party thereto.

 

(c)           The definition of “Incremental Term Loan Maturity Date” in Section 1.1 of the Credit Agreement is hereby amended to read as follows:

 

“Incremental Term Loan Maturity Date”:  with respect to the Incremental Term Loans to be made pursuant to any Incremental Facility Activation Notice, the maturity date specified in such Incremental Facility Activation Notice, which shall be (other than with respect to the Incremental Term Loan X) a date no earlier than the earlier of (a) the Domestic Revolving Credit Maturity Date and (b) the Global Revolving Maturity Date, in each case in effect prior to the delivery of such Incremental Facility Activation Notice.  The maturity date with respect to the Incremental Term Loan X shall be the date

 

 

eighteen (18) months after the date of the funding of such Incremental Term Loan X in accordance with the applicable Incremental Facility Activation Notice.

 

(d)           The first sentence of the definition of “Lenders” in Section 1.1 of the Credit Agreement is hereby amended to read as follows:

 

“Lenders”:  the Persons listed on Schedule 1.1A, any other Person that shall have become a party hereto pursuant to a New Lender Supplement or an Incremental Facility Activation Notice and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.

 

(e)           The definition of “Obligations” in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

 

“Obligations”:  the collective reference to the unpaid principal of and interest (and premium, if any) on the Loans, Reimbursement Obligations, Bilateral Foreign Credit Reimbursement Obligations and Participation Foreign Credit Reimbursement Obligations and all other obligations and liabilities of the Borrowers (including interest accruing at the then applicable rate provided herein after the maturity of the Loans, Reimbursement Obligations, Bilateral Foreign Credit Reimbursement Obligations and Participation Foreign Credit Reimbursement Obligations and interest accruing at the then applicable rate provided herein after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Borrower or any Subsidiary Guarantor, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to any Agent or any Lender (or, in the case of any Hedging Agreement of any Borrower or any Subsidiary Guarantor or any Specified Cash Management Agreement, any Lender or any Affiliate of any Lender), whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter Incurred, which may arise under, out of, or in connection with, this Agreement, the other Loan Documents, any Hedging Agreement of any Borrower or any Subsidiary Guarantor with any Lender or Affiliate of a Lender or Specified Cash Management Agreement with any Lender or any Affiliate of any Lender, in each case whether on account of principal, interest, premium, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel to any Agent or to any Lender that are required to be paid by any Borrower or any Subsidiary Guarantor pursuant to the terms of any of the foregoing agreements).

 

(f)            The definition of “Permitted Acquisition” in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

 

“Permitted Acquisition”:  any acquisition by the Parent Borrower or any Subsidiary of all or substantially all of the Capital Stock of, or all or substantially all of the assets of, or of a business, unit or division of, any Person (including any related Investment in any Subsidiary in order to provide all or any portion of the Consideration for such acquisition); provided that (a) the Parent Borrower shall be in compliance, on a pro  forma basis after giving effect to such acquisition, with the covenants contained in Section 6.1, in each case recomputed as at the last day of the most recently ended fiscal quarter of the Parent Borrower for which the relevant information is available as if such acquisition had occurred on the first day of each relevant period for testing such

 

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compliance (as demonstrated, in the case of any acquisition for which the aggregate Consideration is greater than or equal to $100,000,000, in a certificate of a Financial Officer delivered to the Administrative Agent prior to the consummation of such acquisition); provided that with respect to any computation for any acquisition of any Person, all terms of an accounting or financial nature with respect to such Person and its Subsidiaries shall be construed in accordance with the financial standards applicable to such Person and its Subsidiaries, as in effect at the time of such acquisition; provided that with respect to such computation for the Parent Borrower’s acquisition of Clyde Union (Holdings) S.a.r.l. (“Clyde Sarl”), all terms of an accounting or financial nature with respect Clyde Sarl and its Subsidiaries shall be construed in accordance with the International Financial Reporting Standards, as in effect at the time of such acquisition; (b) no Specified Default shall have occurred and be continuing, or would occur after giving effect to such acquisition, (c) substantially all of the property so acquired (including substantially all of the property of any Person whose Capital Stock is directly or indirectly acquired) is useful in the business of the general type conducted by the Parent Borrower and its Subsidiaries on the Effective Date or businesses reasonably related thereto, (d) the Capital Stock so acquired (other than any Capital Stock that is not required by Section 5.11 to become Collateral) shall constitute and become Collateral as and when required by Section 5.11, (e) if the Ratings Event shall have occurred, substantially all of the property other than Capital Stock so acquired (including substantially all of the property of any Person whose Capital Stock is directly or indirectly acquired when such Person becomes a direct or indirect Wholly Owned Subsidiary of the Parent Borrower in accordance with clause (f), below, but excluding any assets to the extent such assets are not required by Section 5.11 to become Collateral) shall constitute and become Collateral, (f) any Person whose Capital Stock is directly or indirectly acquired shall be, after giving effect to such acquisition, (i) with respect to any such Person that is a Domestic Subsidiary, within six (6) months of such acquisition, a direct or indirect Wholly Owned Subsidiary of the Parent Borrower, and (ii) with respect to any such Person that is a Foreign Subsidiary, within eighteen (18) months of such acquisition at least 80% of the Capital Stock of such Foreign Subsidiary shall be owned directly or indirectly by the Parent Borrower, and (g) any such acquisition shall have been approved by the board of directors or comparable governing body of the relevant Person (unless such relevant Person is a majority owned Subsidiary prior to such acquisition).

 

(g)           The definition of “Permitted Maturity” in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

 

“Permitted Maturity”:  (i) with respect to any Participation Foreign Credit Instrument, a maximum tenor of 60 months following the respective issuance date (which (x) in the case of any Participation Foreign Credit Instrument that is rolled into this Agreement in accordance with the provisions hereof, shall be the date of such roll-in, and (y) in the case of any extension of any Participation Foreign Credit Instrument, shall be the date of the amendment providing for such extension); provided that (a) not more than 33 1/3% of the total Participation Foreign Credit Instrument Issuing Commitments may be used for Participation Foreign Credit Instruments with a tenor of 48 months or more and (b) no Participation Foreign Credit Instrument may have a maximum tenor that is more than 36 months after the then effective Foreign Trade Maturity Date.  For purposes of this definition, “tenor” shall mean the period remaining from time to time until the maturity of the relevant Participation Foreign Credit Instrument determined on

 

3

 

the basis of the expiration date specified in the relevant Foreign Credit Instrument in accordance with Section 2.6(c)(iv), or, in the absence of such specific expiration date, the remaining Commercial Lifetime and (ii) with respect to any Bilateral Foreign Credit Instrument, the tenor agreed to by the applicable Borrower and the applicable Bilateral Foreign Issuing Lender.

 

(h)           The definition of “Prepayment Event” in Section 1.01 of the Credit Agreement is hereby amended to read as follows:

 

“Prepayment Event”:

 

(a)           any Disposition of property or series of related Dispositions of property (excluding any such Disposition permitted by paragraph (a), (b), (c), (d) or (g) of Section 6.6) that yields aggregate gross proceeds to the Parent Borrower or any of the Subsidiary Guarantors (valued at the initial principal amount thereof in the case of non-cash proceeds consisting of notes or other debt securities and valued at fair market value in the case of other non-cash proceeds) in excess of $25,000,000; or

 

(b)           any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any property of the Parent Borrower or any Subsidiary Guarantor that yields Net Proceeds in excess of $10,000,000;

 

(c)         the Incurrence by the Parent Borrower or any Subsidiary of any Indebtedness, other than Indebtedness permitted by Section 6.2; or

 

(d)         the Incurrence by the Parent Borrower or any Subsidiary of any unsecured Indebtedness in the form of a private or public note or bond issuance (for the avoidance of doubt, excluding credit facilities or receivables securitization facilities, even if notes are issued to the lenders or other financing sources thereunder) pursuant to the basket provided in Section 6.2(l).

 

(i)            The definition of “Consolidated Total Debt” in Section 1.01 of the Credit Agreement is hereby amended by inserting the following sentence at the end thereof:

 

For the avoidance of doubt, if the proceeds of any Incremental Term Loan are maintained with the Administrative Agent, such cash proceeds shall be netted against Consolidated Total Debt in accordance herewith, subject to the $50,000,000 aggregate floor specified above.

 

(j)            The following sentence is hereby added at the end of Section 1.4 of the Credit Agreement to read as follows:

 

Notwithstanding the foregoing, during (i) the period from the date of any acquisition of any Person in accordance with the terms hereof through the last day of the fiscal quarter of the Parent Borrower in which the acquisition of such Person is consummated only, at the election of the Parent Borrower, all terms of an accounting or financial nature with respect to such Person and its Subsidiaries shall be construed in accordance with the accounting standards applicable to such Person and its Subsidiaries, as in effect during such time period and (ii) the period from the date of the Parent Borrower’s acquisition of

 

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Clyde Sarl in accordance with the terms hereof through the last day of the fiscal quarter of the Parent Borrower in which the acquisition of Clyde Sarl is consummated only, at the election of the Parent Borrower, all terms of an accounting or financial nature with respect to Clyde Sarl and its Subsidiaries shall be construed in accordance with the International Financial Reporting Standards, as in effect during such time period.

 

(k)           The first sentence of Section 2.1(b) of the Credit Agreement is hereby amended to read as follows:

 

(b)           So long as no Default or Event of Default (including, on a pro forma basis, pursuant to Section 6.1) shall be in existence or would be caused thereby, the Parent Borrower and any one or more Lenders may from time to time agree that such Lenders (or any other additional bank, financial institution or other entity which becomes a Lender pursuant to this Section 2.1(b)) shall add one or more term loan facilities (the loans thereunder, the “Incremental Term Loans”) and/or increase the Commitments in respect of any of the Facilities by executing and delivering to the Administrative Agent and, in the case of any increase in the Foreign Credit Commitments, the Foreign Trade Facility Agent an Incremental Facility Activation Notice specifying (i) the amount of such Incremental Term Loans and/or Commitment increase, and (ii) in the case of any Incremental Term Loans, (A) the applicable Incremental Term Loan Maturity Date, (B) the amortization schedule for such Incremental Term Loans, which shall comply with Section 2.11(a), (C) the Applicable Rate (and/or other pricing terms) for such Incremental Term Loans and (D) the requested currency (which may be in Dollars or any Alternative Currency); provided that (x) the aggregate principal amount of borrowings of Incremental Term Loans outstanding at any time and Commitment increases pursuant to this subsection (b) in effect at any time shall not exceed $1,000,000,000 (it being understood and agreed that (i) if the Parent Borrower concurrently reduces the Foreign Credit Commitment pursuant to Section 2.9 at such time as it increases the Bilateral Foreign Credit Issuing Commitment pursuant to this subsection (b), such increase of the Bilateral Foreign Credit Issuing Commitment shall be included in the calculation of the amount in this clause (x) only to the extent that such increase in the Bilateral Foreign Credit Issuing Commitment exceeds the reduction in the Foreign Credit Commitment and (ii) if any Borrower repays any Incremental Term Loans and/or permanently terminates any Commitments provided pursuant to this subsection (b) the Borrower shall have new availability under this subsection (b) for additional Incremental Term Loans and Commitment increases pursuant to this subsection (b) in the amount of such prepayment and/or termination up to the aggregate amount permitted above) and (y) the Bilateral Foreign Credit Instrument Issuing Commitment after giving effect to any such increases shall not exceed $400,000,000.

 

(l)            Clause (ii) in Section 2.6(c) of the Credit Agreement is hereby amended to read as follows:

 

(ii)           the terms and conditions for the requested Foreign Credit Instrument are, in the case of a Participation Foreign Credit Instrument, in accordance with the Mandatory Requirements;

 

(m)          The first sentence in Section 2.6(e) of the Credit Agreement is hereby amended to read as follows:

 

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No Foreign Credit Instrument shall be issued by any Foreign Issuing Lender if, in the case of a Participation Foreign Credit Instrument, the Mandatory Requirements are not fulfilled.

 

(n)           Clause (4) in the third sentence of Section 2.6(g)(i) of the Credit Agreement is hereby amended to read as follows:

 

(4) because it is of the opinion that, in the case of Participation Foreign Credit Instruments, the Mandatory Requirements are not fulfilled, or

 

(o)           Section 2.6(g)(iv) of the Credit Agreement is hereby amended to read as follows:

 

(iv)          The relevant Foreign Issuing Lender may either issue the Foreign Credit Instrument directly or, if requested by and agreed with the relevant Borrower, arrange that the Foreign Credit Instrument (an “Indirect Foreign Credit Instrument”) be issued by a second bank (including one of such Foreign Issuing Lender’s domestic or foreign branches or affiliates) or financial institution (the “Indirect Foreign Issuing Lender”) against its corresponding Counter-Guarantee (which may support one or more Indirect Foreign Credit Instruments and which may be for a longer or shorter tenor than such Indirect Foreign Credit Instrument(s) so long as the tenor of such Counter-Guarantee is permitted under this Agreement) in the form satisfactory to the Indirect Foreign Issuing Lender.  In addition, in the case that an issued and outstanding letter of credit, guaranty or surety is being rolled into the Foreign Trade Facility as a Foreign Credit Instrument in accordance with the provisions of this Agreement, then if requested by and agreed with the relevant Borrower, the relevant Foreign Issuing Lender may arrange that one or more corresponding Counter-Guarantees (which may support one or more Indirect Foreign Credit Instruments and which may be for a longer or shorter tenor than such Indirect Foreign Credit Instrument(s) so long as the tenor of such Counter-Guarantee is permitted under this Agreement) in the form satisfactory to the issuer of such existing letter of credit, guaranty or surety be issued by such Foreign Issuing Lender, in which event (A) the issued letter of credit, guaranty or surety shall be treated as an Indirect Foreign Credit Instrument, (B) the issuer thereof shall be treated as an Indirect Foreign Issuing Lender, and (C) such Foreign Issuing Lender rather than the Foreign Trade Facility Agent shall be responsible for checking for compliance with the Mandatory Requirements (except that only the Mandatory Requirements under the headings “Permitted Types of Instruments” and “Expiry” need to be complied with; for the avoidance of doubt, the Mandatory Requirements under the headings “Rules”, “Reference to Underlying Transaction/Purpose Clause” and “Payment Obligations”, as well as the Dispensable Requirements need not be complied with) with respect to such Indirect Foreign Credit Instruments in accordance with the provisions of this Agreement, but the Foreign Trade Facility Agent shall be responsible for checking for compliance with all the Mandatory Requirements with respect to the corresponding Counter-Guarantee(s) in accordance with the provisions of this Agreement.  In case of an Indirect Foreign Credit Instrument, such Foreign Issuing Lender is entitled to receive, for payment to the Indirect Foreign Issuing Lender, separate fees and expenses in respect of such Indirect Foreign Credit Instrument in addition to the fees and expenses pursuant to Section 2.6(p).  In line with international practices, the validity of a Counter-Guarantee in favor of the Indirect Foreign Issuing Lender may exceed the validity of the Indirect Foreign Credit Instrument by at least ten calendar days so long as such tenor is permitted under this Agreement.

 

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(p)           Section 2.6(q)(i) of the Credit Agreement is hereby amended to read as follows:

 

(i)            The Parent Borrower may, by giving to the Administrative Agent, with a copy to the Foreign Trade Facility Agent, not less than 3 Business Days’ prior written notice, cancel the whole or any part (being a minimum of $10,000,000) of the then unused Bilateral Foreign Credit Instrument Issuing Commitments, Participation Foreign Credit Instrument Issuing Commitments and/or the Foreign Credit Commitments without premium or penalty (it being understood and agreed that any cancellation or termination of the Foreign Credit Commitments pursuant to this Section 2.6(q) shall be done on a pro rata basis but a cancellation or termination of a Bilateral Foreign Credit Instrument Issuing Commitment or a Participation Foreign Credit Instrument Issuing Commitment need not be done on a pro rata basis); provided that a notice of termination of the unused Bilateral Foreign Credit Instrument Issuing Commitments, Participation Foreign Credit Instrument Issuing Commitments and/or the Foreign Credit Commitments delivered by the Parent Borrower may state that such notice is conditioned upon the effectiveness or closing of other credit facilities, debt financings or Dispositions, in which case such notice may be revoked or the date specified therein extended by the Parent Borrower (by notice to the Administrative Agent and the Foreign Trade Facility Agent on or prior to the specified effective date) if such condition is not satisfied.

 

(q)           The last sentence of Section 2.6(t) of the Credit Agreement is hereby amended to read as follows:

 

If all the conditions precedent to issuance of a new Foreign Credit Instrument are satisfied, then in lieu of issuing a new Foreign Credit Instrument, such additional Bilateral Foreign Issuing Lender or Participation Foreign Issuing Lender may, at the written request of the Parent Borrower or the applicable Foreign Subsidiary Borrower and with the written consent of the Foreign Trade Facility Agent, roll into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, an outstanding undertaking that meets all of the requirements to be a Foreign Credit Instrument hereunder, in which case such undertaking shall thereafter be treated as if it were issued hereunder, and such Bilateral Foreign Issuing Lender or Participation Foreign Issuing Lender, as applicable, shall be deemed to represent and warrant that each such Foreign Credit Instrument that is rolled into the Bilateral Foreign Trade Facility or the Foreign Trade Facility, as applicable, complies with Section 2.6(c), Section 2.6(d), Section 2.6(e) and Section 2.6(f), as applicable.

 

(r)            The proviso in the first sentence of Section 2.12(b) of the Credit Agreement is hereby amended to read as follows:

 

provided that, (x) in the case of any event described in clause (a) or (b) of the definition of the term Prepayment Event, if the Parent Borrower shall deliver to the Administrative Agent a certificate of a Financial Officer to the effect that the Parent Borrower and the Subsidiaries intend to apply the Net Proceeds from such event (“Reinvestment Net Proceeds”), within 360 days after receipt of such Net Proceeds, to make Permitted Acquisitions or Investments permitted by Section 6.5 or acquire real property, equipment or other assets to be used in the business of the Parent Borrower and the Subsidiaries, and certifying that no Default or Event of Default has occurred and is continuing, then no prepayment or Commitment reduction shall be required pursuant to this paragraph in respect of such event except to the extent of any Net Proceeds therefrom that have not

 

7

 

been so applied by the end of such 360-day period, at which time a prepayment shall be required in an amount equal to the Net Proceeds that have not been so applied and (y) in the case of any event described in clause (d) of the definition of the term Prepayment Event, the Net Proceeds received with respect to such Prepayment Event shall be applied only to the prepayment of any outstanding amounts of the Incremental Term Loan X.

 

(s)           Section 2.13(b) of the Credit Agreement is hereby amended to read as follows:

 

(b)           Any mandatory prepayment of Incremental Term Loans (other than any mandatory prepayment of the Incremental Term Loan X with the Net Proceeds received with respect to any Prepayment Event described in clause (d) of the definition of the term Prepayment Event) by any Borrower shall be allocated among the Classes of Incremental Term Loans in the manner directed in writing by the Parent Borrower to the Administrative Agent.  Any mandatory prepayment of the Incremental Term Loan X with the Net Proceeds received with respect to any Prepayment Event described in clause (d) of the definition of the term Prepayment Event shall be allocated only to the prepayment of the Incremental Term Loan X.  Any optional prepayment of Incremental Term Loans shall be allocated to the Incremental Term Loans as directed in writing by the Parent Borrower to the Administrative Agent.  Amounts prepaid on account of any Incremental Term Loans may not be reborrowed.

 

(t)            Section 2.13(c) of the Credit Agreement is hereby amended to read as follows:

 

(c)           Each mandatory prepayment of any Incremental Term Loans shall be applied to the installments thereof in each case in the order as directed in writing by the Parent Borrower to the Administrative Agent.  Any optional prepayment of any Incremental Term Loans shall be applied to the installments of the applicable Incremental Term Loans in each case in the order as directed in writing by the Parent Borrower to the Administrative Agent.

 

(u)           The following sentence is hereby added at the end of Section 2.19(a) of the Credit Agreement to read as follows:

 

The provisions of this Section 2.19(a) shall not apply to any payment of a UK Obligor, as defined in Section 2.19A, and such payment shall instead be subject to the provisions of Section 2.19A.

 

(v)           The following sentence is hereby added at the end of Section 2.19(c) of the Credit Agreement to read as follows:

 

The provisions of this Section 2.19(c) shall not apply to any payment of a UK Obligor, as defined in Section 2.19A, and such payment shall instead be subject to the provisions of Section 2.19A.

 

(w)          The following sentence is hereby added at the end of Section 2.19(d) of the Credit Agreement to read as follows:

 

The provisions of this Section 2.19(d) shall not apply to any payment of a UK Obligor, as defined in Section 2.19A, and such payment shall instead be subject to the provisions of Section 2.19A.

 

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(x)            The following new Section 2.19A is hereby added at the end of Section 2.19 of the Credit Agreement to read as follows:

 

Section 2.19A.      United Kingdom Matters.

 

The provisions of Section 2.19A shall apply only in relation to any Loan which is at any time outstanding between (i) any Lender and (ii) a Foreign Subsidiary Borrower resident in the UK or any other Borrower to whom the provisions of S.874 ITA would apply (ignoring any exceptions) on the payment of any amount of interest under such Loan, and each such Foreign Subsidiary Borrower or other Borrower shall be referred to in this Section 2.19A as a “UK Obligor”.

 

(a)           Definitions

 

In this Section 2.19A:

 

“CTA” means the United Kingdom Corporation Tax Act 2009.

 

“ITA” means the United Kingdom Income Tax Act 2007.

 

“Qualifying Lender” means:

 

(i)            a Lender (other than a Lender within paragraph (ii) below) which is beneficially entitled to interest payable to that Lender in respect of an advance under any Loan Document and is:

 

(A)          a Lender:

 

(aa)         which is a bank (as defined for the purpose of section 879 of the ITA) making an advance under any Loan Document; or

 

(bb)         in respect of an advance made under a Loan Document by a person that was a bank (as defined for the purpose of section 879 of the ITA) at the time that that advance was made,

 

and which is within the charge to United Kingdom corporation tax as respects any payments of interest made in respect of that advance; or

 

(B)           a Lender which is:

 

(cc)         a company resident in the United Kingdom for United Kingdom tax purposes;

 

(dd)         a partnership each member of which is:

 

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(a)           a company so resident in the United Kingdom; or

 

(b)           a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA;

 

(ee)         a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that company; or

 

(C)           a Treaty Lender;

 

(ii)           a building society (as defined for the purposes of section 880 of the ITA) making an advance under a Loan).

 

“Tax Confirmation” means a confirmation by a Lender that the person beneficially entitled to interest payable to that Lender in respect of an advance under any Loan Document is either:

 

(i)            a company resident in the United Kingdom for United Kingdom tax purposes;

 

(ii)           a partnership each member of which is:

 

(A)          a company so resident in the United Kingdom; or

 

(B)           a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or

 

(iii)          a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that company.

 

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“Tax Credit” means a credit against, relief or remission for, or repayment of, any Tax.

 

“Tax Deduction” means a deduction or withholding for or on account of Taxes from a payment under any Loan Document.

 

“Tax Payment” means the increase in a payment made by a UK Obligor to a Lender under this Section 2.19A(b) (Tax gross-up).

 

“Treaty Lender” means a Lender which:

 

(i)            is treated as a resident of a Treaty State for the purposes of the Treaty; and

 

(ii)           does not carry on a business in the United Kingdom through a permanent establishment with which that Lender’s participation in the Loan is effectively connected.

 

“Treaty State” means a jurisdiction having a double taxation agreement (a “Treaty”) with the United Kingdom which makes provision for full exemption from tax imposed by the United Kingdom on interest.

 

“UK Non-Bank Lender” means a Lender which gives a Tax Confirmation in the UK Tax Certification which it executes on becoming a party.

 

“UK Tax Certification means the form attached in Schedule P.

 

Unless a contrary indication appears, in this Section 2.19A, a reference to “determines” or “determined” means a determination made in the absolute discretion of the person making the determination.

 

(b)           Tax gross-up

 

(i)            Each UK Obligor shall make all payments to be made by it without any Tax Deduction unless a Tax Deduction is required by law.

 

(ii)           The Parent Borrower shall promptly upon becoming aware that a UK Obligor must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify the Administrative Agent accordingly.  Similarly, a Lender shall notify the Administrative Agent on becoming so aware in respect of a payment payable to that Lender.  If the Administrative Agent receives such notification from a Lender it shall notify the Parent Borrower and the relevant UK Obligor.

 

(iii)          If a Tax Deduction is required by law to be made by a UK Obligor as a result of a Tax imposed by the United Kingdom or as a result of any Tax imposed by any jurisdiction other than the United Kingdom that is not an Excluded Tax pursuant to clause (a), (b), (d) or (e) of the definition of Excluded Tax, the amount of the payment due from that UK Obligor

 

11

 

shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required.

 

(iv)          A payment shall not be increased under paragraph (iii) above by reason of a Tax Deduction on account of Taxes imposed by the United Kingdom, if on the date on which the payment falls due:

 

(A)          the payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a Qualifying Lender, but on that date that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or Treaty or any published practice or published concession of any relevant taxing authority, save where (following any such change) if the UK Obligor can demonstrate that it would have been possible for the payment to have been made without the relevant Tax Deduction if the relevant Lender had completed, or co-operated in completing, any necessary procedural formalities provided that the UK Obligor provides reasonable notice of any such procedural formalities to such Lender and such Lender is legally entitled to complete such procedural formalities and in its reasonable judgment such completion would not materially prejudice its commercial or legal position or require disclosure of information it considers confidential or proprietary; or

 

(B)           the relevant Lender is a Qualifying Lender solely by virtue of paragraph (i)(B) of the definition of Qualifying Lender; and:

 

(aa)         an officer of H.M. Revenue & Customs has given (and not revoked) a direction (a “Direction”) under section 931 of the ITA which relates to the payment and that Lender has received from the UK Obligor making the payment or from the Parent Borrower a certified copy of that Direction; and

 

(bb)         the payment could have been made to the Lender without any Tax Deduction if that Direction had not been made; or

 

(C)           the relevant Lender is a Qualifying Lender solely by virtue of paragraph (i)(B) of the definition of Qualifying Lender and:

 

(aa)         the relevant Lender has not given a Tax Confirmation to the Parent Borrower; and

 

(bb)         the payment could have been made to the Lender without any Tax Deduction if the Lender had given a Tax Confirmation to the Parent Borrower, on the basis

 

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that the Tax Confirmation would have enabled the UK Obligor to have formed a reasonable belief that the payment was an “excepted payment” for the purpose of section 930 of the ITA.

 

(D)          the relevant Lender is a Treaty Lender and the UK Obligor making the payment is able to demonstrate that the payment could have been made to the Lender without the Tax Deduction had that Lender complied with its obligations under paragraph (vii) below; or

 

(E)           The relevant Lender has not completed the UK Tax Certification and the payment could have been made to the Lender without any Tax Deduction if the Lender had completed the UK Tax Certification.

 

(v)           If a UK Obligor is required to make a Tax Deduction, that UK Obligor shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by law.

 

(vi)          Within thirty days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the UK Obligor making that Tax Deduction shall deliver to the Administrative Agent for the benefit of the Lender entitled to the payment a statement under section 975 of the ITA or other evidence reasonably satisfactory to that Lender that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority.

 

(vii)         (a) Subject to paragraph (vii)(b) below, a Treaty Lender and each UK Obligor which makes a payment to which that Treaty Lender is entitled shall co-operate in completing any procedural formalities necessary for that UK Obligor to obtain authorisation to make that payment without a Tax Deduction.

 

(b)   Nothing in this paragraph shall require a Treaty Lender to:

 

A.    Register under the HRMC DT Treaty Passport Scheme;

 

B.    Apply the HMRC DT Treaty Passport Scheme to any Loan if it has so registered;

 

C.    File Treaty forms if it has included an indication to the effect that it wishes to apply the HMRC DT Treaty Passport Scheme to apply this agreement in accordance with paragraph (x) below or paragraph (d) below (HMRC DT Treaty Passport Scheme Confirmation) and the UK Obligor making that payment has not complied with its obligations under paragraph (xi) below or

 

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paragraph (d) (HMRC DT Treaty Passport Scheme Confirmation).

 

(viii)        A UK Non-Bank Lender which becomes a party on the day on which it enters into an Assignment and Assumption gives a Tax Confirmation to the UK Obligor by entering into the UK Tax Certification.

 

(ix)           A UK Non-Bank Lender shall promptly notify the Parent Borrower and the Administrative Agent if there is any change in the position from that set out in the Tax Confirmation.

 

(x)            A Treaty Lender which becomes a party on the day on which this Agreement is entered into that holds a passport under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall include an indication to that effect (for the benefit of the Administrative Agent and without liability to any UK Obligor) by including its scheme reference number and its jurisdiction of tax residence opposite its name in a UK Tax Certification.

 

(xi)           Where a Lender includes the indication described in paragraph (x) above in a UK Tax Certification:

 

(a)           each UK Obligor shall, to the extent that that Lender is a Lender under a Facility made available to that UK Obligor pursuant to Section 2.1 (Commitments; Incremental Facilities), file a duly completed form DTTP2 in respect of such Lender with HM Revenue & Customs within 30 days of the date of this Agreement and shall promptly provide the Lender with a copy of that filing; and

 

(b)           each UK Obligor which becomes a UK Obligor after the date of this Agreement shall, to the extent that that Lender is a Lender under a Facility made available to that UK Obligor pursuant to Section 2.1 (Commitments; Incremental Facilities), file a duly completed form DTTP2 in respect of such Lender with HM Revenue & Customs within 30 days of becoming a UK Obligor and shall promptly provide the Lender with a copy of that filing.

 

(xii)         If a Lender has not included an indication to the effect that it wishes the HMRC DT Treaty Passport scheme to apply to this Agreement in accordance with paragraph (x) above or paragraph (d) (HMRC DT Treaty Passport scheme confirmation), no Obligor shall file any form relating to the HMRC DT Treaty Passport scheme in respect of that Lender’s Commitment(s) or its participation in any Loan.

 

(c)           Tax indemnity

 

(i)            The Parent Borrower or UK Obligor shall (within three Business Days of demand by the Administrative Agent) pay to the Administrative Agent or a Lender an amount equal to the loss, liability or cost which the

 

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Administrative Agent or the relevant Lender determines will be or has been (directly or indirectly) suffered for or on account of Tax imposed by the United Kingdom or any Tax imposed by any jurisdiction other than the United Kingdom that is not an Excluded Tax pursuant to clause (a), (b), (d) or (e) of the definition of Excluded Tax by the Administrative Agent or the relevant Lender in respect of a Loan Document.

 

(ii)           Section (c)(i) above shall not apply:

 

(A)          with respect to any Tax assessed on the Administrative Agent or a Lender:

 

(aa)         under the law of the jurisdiction in which the Administrative Agent or the relevant Lender is incorporated or, if different, the jurisdiction (or jurisdictions) in which the Administrative Agent or the relevant Lender is treated as resident for tax purposes; or

 

(bb)         under the law of the jurisdiction in which the Administrative Agent’s or the relevant Lender’s applicable lending office is located in respect of amounts received or receivable in that jurisdiction,

 

if that Tax is imposed on or calculated by reference to the net income received or receivable (but not any sum deemed to be received or receivable) by the Administrative Agent or the relevant Lender; or

 

(iii)          to the extent a loss, liability or cost:

 

(A)          is compensated for by an increased payment under Section 2.19A(b); or

 

(B)           would have been compensated for by an increased payment under Section 2.19A(b) but was not so compensated solely because one of the exclusions in Section 2.19A(b)(iv) applied.

 

(iv)          If the Administrative Agent or a Lender makes, or intends to make a claim under Section (c)(i) above, it shall promptly notify the Agent of the event which will give, or has given, rise to the claim, following which the Administrative Agent shall notify the Parent Borrower.

 

(v)           A Lender shall, on receiving a payment from an Obligor under Section (c)(i), notify the Administrative Agent.

 

(d)           Tax Credit

 

If a UK Obligor makes a Tax Payment and the relevant Lender determines that:

 

15

 

(i)            a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part or to that Tax Payment; and

 

(ii)           that Lender has obtained, utilised and retained that Tax Credit,

 

That Lender shall pay an amount to the UK Obligor which that Lender determines will leave it (after that payment) in the same after-Taxes position as it would have been in had the Tax Payment not been required to be made by the UK Obligor.

 

(e) Lender Status Confirmation

 

Each Lender which becomes a party to this Agreement after the date of this Agreement (“New Lender”) shall indicate, in the UK Tax Certification which it executes on becoming a party , and for the benefit of the Administrative Agent and without liability to any UK Obligor, which of the following categories it falls in:

 

(i)            not a Qualifying Lender;

 

(ii)           a Qualifying Lender (other than a Treaty Lender); or

 

(iii)          a Treaty Lender.

 

If a New Lender fails to indicate its status in accordance with this Section 2.19A(e) then such New Lender shall be treated for the purposes of this Agreement (including by each UK Obligor) as if it is not a Qualifying Lender until such time as it notifies the Administrative Agent which category applies (and the Administrative Agent, upon receipt of such notification, shall inform the U.S. Borrower).  For the avoidance of doubt, an Assignment and Assumption shall not be invalidated by any failure of a Lender to comply with this Section 2.19A(e).

 

(f) HMRC DT Treaty Passport scheme confirmation

 

(i)            An Assignee that is a Treaty Lender that holds a passport under the HMRC DT Treaty Passport scheme, and which wishes that scheme to apply to this Agreement, shall include an indication to that effect (for the benefit of the Administrative Agent and without liability to any UK Obligor) in the UK Tax Certification which it executes by including its scheme reference number and its jurisdiction of tax residence in that UK Tax Certification.

 

(ii)           Where an Assignee includes the indication described in paragraph (ii) above in the relevant UK Tax Certification:

 

(A)          each UK Obligor which is a UK Obligor on the date on which the Assignee becomes a Lender under this Agreement shall, to the extent that the Assignee becomes a Lender under a Facility which is made available to the UK Obligor pursuant to Section 2.1 (Commitments; Incremental Facilities), file a

 

16

 

duly completed form DTTP2 in respect of such Assignee with HM Revenue & Customs within 30 days from the date on which the Assignee becomes a Lender under this Agreement and shall promptly provide the Lender with a copy of that filing; and

 

(B)           each UK Obligor which becomes a party to this Agreement as a UK Obligor after the date on which the Assignee becomes a party shall, to the extent that that Assignee is a Lender under a Facility which is made available to that UK Obligor pursuant to Section 2.1 (Commitments; Incremental Facilities), file a duly completed form DTTP2 in respect of such Lender with HM Revenue & Customs within 30 days of the UK Obligor becoming a party to this Agreement and shall promptly provide the Lender with a copy of that filing.

 

(g)           Value Added Tax

 

(i)            All amounts set out or expressed in a Loan Document to be payable by any party to any Lender which (in whole or in part) constitute the consideration for a supply or supplies for value added tax (“VAT”) purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply or supplies, and accordingly, subject to paragraph (ii) below, if VAT is or becomes chargeable on any supply made by any Lender to any party under a Loan Document, that party shall pay to the Lender (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of such VAT (and such Lender shall promptly provide an appropriate VAT invoice to such party).

 

(ii)           If VAT is or becomes chargeable on any supply made by any Lender (the “Supplier”) to any other Lender (the “Recipient”) under a Loan and any party other than the Recipient (the “Subject Party”) is required by the terms of any Loan Document to pay an amount equal to the consideration for such supply to the Supplier (rather than being required to reimburse the Recipient in respect of that consideration), such Party shall also pay to the Supplier (in addition to and at the same time as paying such amount) an amount equal to the amount of such VAT.  The Recipient will promptly pay to the Subject Party an amount equal to any credit or repayment obtained by the Recipient from the relevant tax authority which the Recipient reasonably determines is in respect of such VAT.

 

(iii)          Where a Loan Document requires any party to reimburse or indemnify a Lender for any cost or expense, that party shall reimburse or indemnify (as the case may be) such Lender for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that such Lender reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority.

 

(iv)          Any reference in this Section 2.19A(g) to any party shall, at any time when such party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the representative member of such group at such time (the term “representative member” to have the same meaning as in the United Kingdom Value Added Tax Act 1994).

 

17

 

(x)            Section 2.23(b) of the Credit Agreement is hereby amended to read as follows:

 

(b)           (i) Subject to the consent of the Foreign Trade Facility Agent, the Administrative Agent, the Participation Foreign Issuing Lenders (such consent not to be unreasonably withheld, delayed or conditioned) and all of the Lenders with a Foreign Credit Commitment (such consent not to be unreasonably withheld, delayed or conditioned), the Parent Borrower may designate any Foreign Subsidiary of the Parent Borrower as a Foreign Subsidiary Borrower under the Foreign Trade Facility by delivery to the Foreign Trade Facility Agent and the Administrative Agent of a Borrowing Subsidiary Agreement executed by such Subsidiary, the Parent Borrower, the Foreign Trade Facility Agent and the Administrative Agent and upon such delivery such Subsidiary shall for all purposes of this Agreement be a Foreign Subsidiary Borrower under the Foreign Trade Facility and a party to this Agreement until the Parent Borrower shall have executed and delivered to the Foreign Trade Facility Agent and the Administrative Agent a Borrowing Subsidiary Termination with respect to such Subsidiary, whereupon such Subsidiary shall cease to be a Foreign Subsidiary Borrower under the Foreign Trade Facility.

 

(ii) Subject to the consent of the Foreign Trade Facility Agent, the Administrative Agent and the Bilateral Foreign Issuing Lenders (such consent not to be unreasonably withheld, delayed or conditioned), the Parent Borrower may designate any Foreign Subsidiary of the Parent Borrower as a Foreign Subsidiary Borrower under the Bilateral Foreign Trade Facility by delivery to the Foreign Trade Facility Agent and the Administrative Agent of a Borrowing Subsidiary Agreement executed by such Subsidiary, the Parent Borrower, the Foreign Trade Facility Agent and the Administrative Agent and upon such delivery such Subsidiary shall for all purposes of this Agreement be a Foreign Subsidiary Borrower under the Bilateral Foreign Trade Facility and a party to this Agreement until the Parent Borrower shall have executed and delivered to the Foreign Trade Facility Agent and the Administrative Agent a Borrowing Subsidiary Termination with respect to such Subsidiary, whereupon such Subsidiary shall cease to be a Foreign Subsidiary Borrower under the Bilateral Foreign Trade Facility.

 

(iii) Notwithstanding the preceding clauses (i) and (ii), no such Borrowing Subsidiary Termination will become effective as to any Foreign Subsidiary Borrower under the Foreign Trade Facility or the Bilateral Foreign Trade Facility, as applicable, at a time when any Obligations of such Foreign Subsidiary Borrower shall be outstanding thereunder or any applicable Foreign Credit Instruments issued for the account of such Foreign Subsidiary Borrower shall be outstanding (which shall not have been cash collateralized or otherwise supported in a manner consistent with the terms of Section 2.6(o)(iv) or the obligations of such Foreign Subsidiary Borrower in respect of each outstanding Foreign Credit Instrument shall not have been assumed by the Parent Borrower or another Foreign Subsidiary Borrower pursuant to a written assumption agreement in form and substance reasonably satisfactory to the Parent Borrower, such terminated Foreign Subsidiary Borrower, any Foreign Subsidiary Borrower that assumes obligations of such terminated Foreign Subsidiary Borrower, and the Foreign Trade Facility Agent), provided that such Borrowing Subsidiary Termination shall be effective to terminate such Foreign Subsidiary Borrower’s right to request further Foreign Credit

 

18

 

Instruments or other extensions of credit under the Foreign Trade Facility or the Bilateral Foreign Trade Facility, as applicable.

 

(z)            Section 2.23(d) of the Credit Agreement is hereby amended to read as follows:

 

(d)           The Administrative Agent shall promptly notify the Global Revolving Lenders of any Foreign Subsidiary Borrower added or terminated pursuant to Section 2.23(a), and the Foreign Trade Facility Agent shall promptly notify (i) each Participation Foreign Issuing Lender and Lenders with Foreign Credit Commitments of any Foreign Subsidiary Borrower added or terminated pursuant to Section 2.23(b)(i) and (ii) each Bilateral Foreign Issuing Lender of any Foreign Subsidiary Borrower added or terminated pursuant to Section 2.23(b)(ii).

 

(aa)         The last sentence of Section 9.4(b)(iii) of the Credit Agreement is hereby amended to read as follows:

 

The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and shall complete Exhibit P (UK Tax Certification) and deliver it to the Administrative Agent.

 

(bb)         Schedule 1.1A to the Credit Agreement is hereby amended to read as provided on Schedule 1.1A attached hereto.

 

(cc)         A new Schedule P is hereby added to the Credit Agreement to read as provided on Schedule P attached hereto.

 

(dd)         Exhibit E to the Credit Agreement is hereby amended to read as provided on Exhibit E attached hereto.

 

(ee)         Paragraph 1 of Exhibit G to the Credit Agreement is hereby amended to read as follows:

 

1.             Each Lender party hereto agrees to [increase the amount of its [Domestic Revolving][Global Revolving][Foreign Credit] [Bilateral Foreign Credit Issuing] Commitment by $                   , such that its aggregate [Domestic Revolving][Global Revolving][Foreign Credit] [Bilateral Foreign Credit Issuing] Commitment is $                   ] [make an Incremental Term Loan in the amount set forth opposite such Lender’s name below under the caption “Incremental Term Loan Amount.”]

 

(ff)           Exhibit O to the Credit Agreement is hereby amended to read as provided on Exhibit O attached hereto.

 

2.             Pledge Stock  Consent.  Notwithstanding the terms of Section 5.11 of the Credit Agreement and the Guarantee and Collateral Agreement, the Administrative Agent and the Lenders agree that (a) the Parent Borrower shall not be required to pledge any Capital Stock of Ballantyne Holding Company so long as, on or before the date of funding of the Incremental Term Loan A (as defined in the applicable Incremental Facility Activation Notice) and/or Incremental Term Loan X, Johnston Ballantyne Holdings Limited becomes a “Grantor” under the Guarantee and Collateral Agreement and provides a non-recourse guarantee and pledge of 65% of the outstanding shares of voting stock of SPX Clyde

 

19

 

Luxembourg S.à r.l. in accordance with the terms of the Guarantee and Collateral Agreement, pursuant to an Assumption Agreement substantially in the form of Exhibit A attached hereto, and (ii) for the avoidance of doubt, none of Ballantyne Company, SPX Clyde Luxembourg S.à r.l. or SPX Clyde UK Limited shall be required to be a “Grantor” under the Guarantee and Collateral Agreement.

 

3.             Guarantee and Collateral Agreement.  By execution hereof, the Lenders hereby (a) consent to and approve the First Amendment to Guarantee and Collateral Agreement, a copy of which is attached hereto as Exhibit B and (b) authorize the Administrative Agent to execute such First Amendment to Guarantee and Collateral Agreement on their behalf.

 

4.             Conditions Precedent.  This Amendment shall be effective upon the receipt by the Administrative Agent of counterparts of this Amendment duly executed by the Parent Borrower, the other Loan Parties, the Required Lenders and the Administrative Agent.

 

5.             Miscellaneous.

 

(a)           The Credit Agreement and the obligations of the parties thereunder and under the other Loan Documents, are hereby ratified and confirmed and shall remain in full force and effect according to their terms.

 

(b)           Each Subsidiary Guarantor (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) affirms all of its obligations under the Loan Documents and (iii) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Credit Agreement or the other Loan Documents.

 

(c)           Each of the Loan Parties hereby represents and warrants as follows:

 

(i)            Such Loan Party has taken all necessary action to authorize the execution, delivery and performance of this Amendment.

 

(ii)           This Amendment has been duly executed and delivered by such Loan Party and constitutes such Loan Party’s legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be subject to (A) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (B) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

 

(iii)          No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by any Loan Party of this Amendment.

 

(d)           The Parent Borrower represents and warrants to the Lenders that (i) the representations and warranties of the Parent Borrower set forth in Article III of the Credit Agreement and in each other Loan Document are true and correct in all material respects as of the date hereof with the same effect as if made on and as of the date hereof, except to the extent such representations and warranties expressly relate solely to an earlier date and (ii) no event has occurred and is continuing which constitutes a Default or an Event of Default.

 

(e)           This Amendment 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

 

20

 

agreement.  Delivery of an executed counterpart of this Amendment by telecopy, pdf or other similar electronic transmission shall be effective as an original and shall constitute a representation that an executed original shall be delivered.

 

(f)            THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 

[Signature pages follow]

 

21

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

 

	
PARENT   BORROWER:
    	
SPX   CORPORATION,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:   Kevin Lilly
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
FOREIGN   SUBSIDIARY BORROWERS:
    	
SPX   COOLING TECHNOLOGIES GmbH,
    
	
 
    	
a   limited liability company formed in Germany
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Drew T. Ladau
    
	
 
    	
Name:   Drew T. Ladau
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert J. Bartels
    
	
 
    	
Name:   Robert J. Bartels
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
BALCKE-DÜRR   GmbH,
    
	
 
    	
a   limited liability company formed in Germany
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Drew T. Ladau
    
	
 
    	
Name:   Drew T. Ladau
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert J. Bartels
    
	
 
    	
Name:   Robert J. Bartels
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
SPX   FLOW TECHNOLOGY CRAWLEY LIMITED,
    
	
 
    	
a   company incorporated in England and Wales
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:   Kevin Lilly
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
SUBSIDIARY   GUARANTORS:
    	
THE   MARLEY-WYLAIN COMPANY,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Tom W. Blashill
    
	
 
    	
Name:   Tom Blashill
    
	
 
    	
Title:   President
    

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

 

	
 
    	
WAUKESHA   ELECTRIC SYSTEMS, INC.,
    
	
 
    	
a   Wisconsin corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:   Kevin Lilly
    
	
 
    	
Title:   Vice President and Secretary
    
	
 
    	
 
    
	
 
    	
MCT   SERVICES LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Drew T. Ladau
    
	
 
    	
Name:   Drew T. Ladau
    
	
 
    	
Title:   President
    
	
 
    	
 
    
	
 
    	
SPX   HEAT TRANSFER INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Drew T. Ladau
    
	
 
    	
Name:   Drew T. Ladau
    
	
 
    	
Title:   Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
SPX   FLOW TECHNOLOGY SYSTEMS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:   Kevin Lilly
    
	
 
    	
Title:   Vice President and Secretary
    
	
 
    	
 
    
	
 
    	
SPX   COOLING TECHNOLOGIES, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:   Kevin Lilly
    
	
 
    	
Title:   Executive Vice President and Secretary
    
	
 
    	
 
    
	
 
    	
THE   MARLEY COMPANY LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:   Kevin Lilly
    
	
 
    	
Title:   Executive Vice President and Secretary
    
	
 
    	
 
    
	
 
    	
SPX   HOLDING, INC.,
    
	
 
    	
a   Connecticut corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:   Kevin Lilly
    
	
 
    	
Title:   Vice President and Secretary
    

 

 

	
 
    	
 
    
	
 
    	
KAYEX   CHINA HOLDINGS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin Lilly
    
	
 
    	
Name:  Kevin Lilly
    
	
 
    	
Title:  Vice President and Secretary
    

 

 

	
ADMINISTRATIVE   AGENT:
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mollie S. Canup
    
	
 
    	
Name:   Mollie S. Canup
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
FOREIGN   TRADE FACILITY AGENT:
    	
DEUTSCHE BANK AG DEUTSCHLANDGESCHÄFT BRANCH, 
    
	
 
    	
as   Foreign Trade Facility Agent
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Karl-Heinz Schroeder
    
	
 
    	
Name:   Karl-Heinz Schroeder
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Christiane Roth
    
	
 
    	
Name:   Christiane Roth
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
LENDERS:
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   a Lender, Swingline Lender, Issuing Lender and
    
	
 
    	
Participation   Foreign Issuing Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Chris Burns
    
	
 
    	
Name:   Chris Burns
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
THE   BANK OF NOVA SCOTIA,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David Schwartzbard
    
	
 
    	
Name:   David Schwartzbard
    
	
 
    	
Title:   Director, Execution Head
    
	
 
    	
 
    
	
 
    	
DEUTSCHE BANK AG NEW YORK BRANCH,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Margeurite Sutton
    
	
 
    	
Name:   Marguerite Sutton
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Carin Keegan
    
	
 
    	
Name:   Carin Keegan
    
	
 
    	
Title:   Director
    

 

 

	
 
    	
COMMERZBANK   AG, NEW YORK AND
    
	
 
    	
GRAND   CAYMAN BRANCHES,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Matthew Havens
    
	
 
    	
Name:   Matthew Havens
    
	
 
    	
Title:   Assistant Vice President
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Sandy Bau
    
	
 
    	
Name:   Sandy Bau
    
	
 
    	
Title:   Associate
    
	
 
    	
 
    
	
 
    	
THE   BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   George Stoecklein
    
	
 
    	
Name:   George Stoecklein
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
CITIBANK   NA,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Janice D’Arco
    
	
 
    	
Name:   Janice D’Arco
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
MIZUHO   CORPORATE BANK, LTD.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David Lim
    
	
 
    	
Name:   David Lim
    
	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    
	
 
    	
NORDEA   BANK FINLAND PLC
    
	
 
    	
NEW   YORK AND GRAND CAYMAN BRANCHES,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
October 4,   2011
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mogens R. Jensen
    	
Gerald   Chelius
    
	
 
    	
Name:   Mogens R. Jensen
    	
Gerald   Chelius
    
	
 
    	
Title:   Senior Vice President
    	
Senior   Vice President
    
	
 
    	
 
    
	
 
    	
SUNTRUST   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   J. Lance Walton
    
	
 
    	
Name:   J. Lance Walton
    
	
 
    	
Title:   Senior Vice President
    

 

 

	
 
    	
AUSTRALIA   AND NEW ZEALAND BANKING
    
	
 
    	
GROUP   LIMITED,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Robert Grillo
    
	
 
    	
Name:   Robert Grillo
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
HSBC   BANK USA, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Reed R. Menefee
    
	
 
    	
Name:   Reed R. Menefee
    
	
 
    	
Title:   Vice President, Global Relationship Manager
    
	
 
    	
 
    
	
 
    	
FIFTH   THIRD BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mary Ramsey
    
	
 
    	
Name:   Mary Ramsey
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Scott Santa Cruz
    
	
 
    	
Name:   Scott Santa Cruz
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
THE   NORTHERN TRUST COMPANY,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   John Canty
    
	
 
    	
Name:   John Canty
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
PNC   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Jessica L. Fabrizi
    
	
 
    	
Name:   Jessica L. Fabrizi
    
	
 
    	
Title:   Assistant Vice President
    
	
 
    	
 
    
	
 
    	
CHANG   HWA COMMERCIAL BANK LTD.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Eric Y.S. Tsai
    
	
 
    	
Name:   Eric Y.S. Tsai
    
	
 
    	
Title:   VP & General Manager
    

 

 

	
 
    	
TD   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Mark Willner
    
	
 
    	
Name:   Mark Willner
    
	
 
    	
Title:   SVP
    
	
 
    	
 
    
	
 
    	
US   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Louis K. Beasley III
    
	
 
    	
Name:   Louis K. Beasley III
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
CREDIT   AGRICOLE CORPORATE AND
    
	
 
    	
INVESTMENT   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Rachel Tresser
    
	
 
    	
Name:   Rachel Tresser
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Yuri Muzichenko
    
	
 
    	
Name:   Yuri Muzichenko
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
JPMORGAN   CHASE BANK, N.A.,
    
	
 
    	
as   a Lender and Issuing Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Richard W. Duker
    
	
 
    	
Name:   Richard W. Duker
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
DBS   BANK LTD., LOS ANGELES AGENCY,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   James McWalters
    
	
 
    	
Name:   James McWalters
    
	
 
    	
Title:   General Manager
    
	
 
    	
 
    
	
 
    	
SUMITOMO   MITSUI BANKING CORPORATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Shuji Yabe
    
	
 
    	
Name:   Shuji Yabe
    
	
 
    	
Title:   Managing Director
    

 

 

	
 
    	
DNB   NOR BANK ASA,
    
	
 
    	
as   a Lender and Participation Foreign Issuing Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Philip F. Kurpiewski
    
	
 
    	
Name:   Philip F. Kurpiewski
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Pal Boger
    
	
 
    	
Name:   Pål Boger
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
BAYERISCHE   LANDESBANK, NEW YORK
    
	
 
    	
BRANCH,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael Hintz
    
	
 
    	
Name:   Michael Hintz
    
	
 
    	
Title:   First Vice President
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Elke Videgain
    
	
 
    	
Name:   Elke Videgain
    
	
 
    	
Title:   Senior Vice President
    

 

 

EXHIBIT A

 

[FORM OF] ASSUMPTION AGREEMENT

 

ASSUMPTION AGREEMENT, dated as of [                        ], 2011 made by Johnston Ballantyne Holdings Limited (the “Additional Grantor”), in favor of Bank of America, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Secured Parties (as defined in Guarantee and Collateral Agreement (defined below).  All capitalized terms not defined herein shall have the meaning ascribed to them in the Credit Agreement (defined below).

 

W  I  T  N  E  S  S  E  T  H:

 

WHEREAS, SPX CORPORATION (the “Parent Borrower”), the Foreign Subsidiary Borrowers from time to time parties thereto (together with the Parent Borrower, the “Borrowers”), the Lenders, the Administrative Agent and Deutsche Bank AG Deutschlandgeschäft Branch, as foreign trade facility agent (in such capacity, the “Foreign Trade Facility Agent”) have entered into a Credit Agreement, dated as of June 30, 2011 (as amended by the First Amendment to Credit Agreement dated as of October     , 2011, as further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”);

 

WHEREAS, in connection with the Credit Agreement, the Borrowers and certain of their Subsidiaries (other than the Additional Grantor) have entered into the Guarantee and Collateral Agreement, dated as of June 30, 2011 (as amended by the First Amendment to Guarantee and Collateral Agreement dated as of October     , 2011, as further amended, supplemented or otherwise modified from time to time, the “Guarantee and Collateral Agreement”) in favor of the Administrative Agent for the benefit of the Secured Parties;

 

WHEREAS, the Credit Agreement requires the Additional Grantor to become a party to the Guarantee and Collateral Agreement on the terms specified herein; and

 

WHEREAS, the Additional Grantor has agreed to execute and deliver this Assumption Agreement in order to become a party to the Guarantee and Collateral Agreement;

 

NOW, THEREFORE, IT IS AGREED:

 

1.                                       Guarantee and Collateral Agreement; Limited Recourse.  By executing and delivering this Assumption Agreement, the Additional Grantor, as provided in Section 8.14 of the Guarantee and Collateral Agreement, hereby becomes a party to the Guarantee and Collateral Agreement as a Grantor thereunder with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Grantor thereunder.  The information set forth in Annex 2-A hereto is hereby added to the information set forth in the Schedules to the Guarantee and Collateral Agreement.  The Additional Grantor hereby represents and warrants that each of the representations and warranties contained in Section 4 of the Guarantee and Collateral Agreement with respect to the Additional Grantor and SPX Clyde Luxembourg S.à r.l. is true and correct in all material respects on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date.  Notwithstanding anything to the contrary contained in this Assumption Agreement, the Guarantee and Collateral Agreement, the Credit Agreement or any other Loan Document, whether express or implied (i) the Additional Grantor shall have no personal liability to the Administrative Agent or any Secured Party under this Assumption Agreement or 

 

 

the Guarantee and Collateral Agreement (including with respect to its guarantee under Section 2.1 of the Guarantee and Collateral Agreement) beyond the interest of the Additional Grantor in the shares of Capital Stock in SPX Clyde Luxembourg S.à r.l. pledged to the Administrative Agent pursuant to the terms of the Guarantee and Collateral Agreement, (ii) the Guarantor Obligations are nonrecourse to the Additional Grantor and (iii) no deficiency or other judgment may be sought or obtained against the Additional Grantor for the payment of any of the Guarantor Obligations.

 

2.                                     Governing Law.  THIS ASSUMPTION AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATION LAW).

 

3.                                       Counterparts.  This Assumption 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 agreement.  Delivery of an executed counterpart of this Assumption Agreement by telecopy, pdf or other similar electronic transmission shall be effective as an original and shall constitute a representation that an executed original shall be delivered.

 

IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written.

 

	
 
    	
JOHNSTON   BALLANTYNE HOLDINGS LIMITED
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
Accepted   and agreed to as of the date first above written.
    	
 
    
	
 
    	
 
    
	
BANK   OF AMERICA, N.A.,
    	
 
    
	
as   Administrative Agent
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
Name:
    	
 
    
	
Title:
    	
 
    
					

 

Annex 2-A to

 

Assumption Agreement

 

Supplement to Schedule 1

 

[to be provided by the Parent Borrower]

 

 

Supplement to Schedule 2

 

[to be provided by Parent Borrower]

 

Supplement to Schedule 3

 

[to be provided by the Parent Borrower]

 

Supplement to Schedule 4

 

[to be provided by the Parent Borrower]

 

 

EXHIBIT B

 

[FORM OF] FIRST AMENDMENT TO GUARANTEE AND COLLATERAL AGREEMENT

 

THIS FIRST AMENDMENT TO GUARANTEE AND COLLATERAL AGREEMENT dated as of October     , 2011 (the “Amendment”) is entered into among the Grantors and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Secured Parties.  All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Guarantee and Collateral Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Grantors and the Administrative Agent entered into that certain Guarantee and Collateral Agreement dated as of June 30, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Guarantee and Collateral  Agreement”);

 

WHEREAS, the parties hereto agree to amend the Guarantee and Collateral Agreement as set forth below;

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                       Amendments.  The Guarantee and Collateral Agreement is hereby amended as follows:

 

(a)                                  The definition of “Pledged Stock” in Section 1.1 of the Guarantee and Collateral Agreement is hereby amended to add the following new clause (viii) at the end thereof to read as follows:

 

and (viii) in no event shall the Capital Stock of Ballantyne Holding Company, Ballantyne Company and Johnston Ballantyne Holdings Limited be Collateral or be required to be pledged or a security interest granted hereunder.

 

(b)                                 The definition of “Borrower Obligations” in Section 1.1 of the Guarantee and Collateral Agreement is hereby amended to read, as follows:

 

“Borrower Obligations”: the collective reference to the unpaid principal of and interest (and premium, if any) on the Loans (including Incremental Term Loans), Reimbursement Obligations, Bilateral Foreign Credit Reimbursement Obligations and Participation Foreign Credit Reimbursement Obligations and all other obligations and liabilities of the Borrowers and the Subsidiary Guarantors (including interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans, Reimbursement Obligations, Bilateral Foreign Credit Reimbursement Obligations and Participation Foreign Credit Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to any Agent or any other Secured Party, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter Incurred, which may arise under, out of, or in connection with, the Credit Agreement, 

 

 

this Agreement, the other Loan Documents, any Hedging Agreement of any Borrower or any Subsidiary Guarantor with any Lender or Affiliate of a Lender or Specified Cash Management Agreement with any Lender or any Affiliate of any Lender, in each case whether on account of principal, interest, premium, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including all fees and disbursements of counsel to any Agent or to any other Secured Party that are required to be paid by any Borrower or any Subsidiary Guarantor pursuant to the terms of any of the foregoing agreements).

 

(c)                                  Paragraph (a) in Section 2.1 of the Guarantee and Collateral Agreement is amended to read as follows:

 

(a)                                Each of the Guarantors hereby, jointly and severally, unconditionally and irrevocably, guarantees to the Administrative Agent and the Secured Parties and their respective successors and permitted assigns, the prompt and complete payment and performance by each Borrower and each Guarantor when due (whether at the stated maturity, by acceleration or otherwise) of its Borrower Obligations (other than in respect of Excluded Taxes); provided, however, that the Parent Borrower’s guarantee obligations under this Section 2 shall be limited to the guarantee of the prompt and complete payment and performance by each Foreign Subsidiary Borrower and each Subsidiary Guarantor when due (whether at the stated maturity, by acceleration or otherwise) of its respective Borrower Obligations (other than in respect of Excluded Taxes).

 

(d)                                 The following paragraph (f) is hereby added at the end of Section 2.1 of the Guarantee and Collateral Agreement to read as follows:

 

(f)                                    Notwithstanding anything to the contrary contained in this Agreement, whether express or implied (i) Johnston Ballantyne Holdings Limited (including all directors, general or managing partners, officers, employees, agents, trustees and advisors thereof) shall have no personal liability to the Administrative Agent or any Secured Party under this Agreement (including with respect to its guarantee under this Section 2.1) beyond the interest of Johnston Ballantyne Holdings Limited in the shares of Capital Stock in SPX Clyde Luxembourg S.à r.l. pledged to the Administrative Agent pursuant to the terms hereof, (ii) the Guarantor Obligations are nonrecourse to Johnston Ballantyne Holdings Limited and (iii) no deficiency or other judgment may be sought or obtained against Johnston Ballantyne Holdings Limited for the payment of any of the Guarantor Obligations.

 

(e)                                  The following paragraph is hereby added at the end of Section 3 of the Guarantee and Collateral Agreement to read as follows:

 

Notwithstanding the terms of this Section 3 or any other Loan Document, (a) the Parent Borrower shall not be required to pledge any Capital Stock of Ballantyne Holding Company so long as, on or before the date of funding of the Incremental Term Loan A (as defined in the applicable Incremental Facility Activation Notice) and/or the Incremental Term Loan X, Johnston Ballantyne Holdings Limited becomes a “Grantor” under the Guarantee and Collateral Agreement and provides a non-recourse guarantee and pledge of 65% of the outstanding shares of voting stock of SPX Clyde Luxembourg S.à r.l. in accordance with the terms hereof, and (ii) for the avoidance of doubt, none of 

 

 

Ballantyne Company, SPX Clyde Luxembourg S.à r.l. or SPX Clyde UK Limited shall be required to be a “Grantor” under the Guarantee and Collateral Agreement.

 

(f)                                    Schedule 2 of the Guarantee and Collateral Agreement is hereby amended to read as provided on Schedule 2 attached hereto.

 

2.                                       This Amendment 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 agreement.  Delivery of an executed counterpart of this Amendment by telecopy, pdf or other similar electronic transmission shall be effective as an original and shall constitute a representation that an executed original shall be delivered.

 

3.                                       THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 

 

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

 

	
GRANTORS:
    	
SPX   CORPORATION,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
THE   MARLEY-WYLAIN COMPANY,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
WAUKESHA   ELECTRIC SYSTEMS, INC.,
    
	
 
    	
a   Wisconsin corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
MCT   SERVICES LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
SPX   HEAT TRANSFER INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
SPX   FLOW TECHNOLOGY SYSTEMS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
SPX   COOLING TECHNOLOGIES, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    

 

 

	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
THE   MARLEY COMPANY LLC,
    
	
 
    	
a   Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
KAYEX   CHINA HOLDINGS, INC.,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
SPX   HOLDING INC.,
    
	
 
    	
a   Connecticut corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
ACKNOWLEDGED   AND AGREED:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
BANK   OF AMERICA, N.A.,
    	
 
    
	
as   Administrative Agent
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
Name:   Mollie S. Canup
    	
 
    
	
Title:   Vice President
    	
 
    
					

 

 

SCHEDULE 1.1A

 

COMMITMENTS

 

[to be provided]

 

 

SCHEDULE P

 

[FORM OF] UK TAX CERTIFICATION

 

Reference is hereby made to the Credit Agreement, dated as of June 30, 2011 (as amended by the First Amendment to Credit Agreement dated as of October     , 2011, as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among SPX Corporation, a Delaware corporation (the “Parent Borrower”), the Foreign Subsidiary Borrowers from time to time parties thereto, the Lenders from time to time parties thereto, Bank of America, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) and Deutsche Bank AG Deutschlandgeschäft Branch, as Foreign Trade Facility Agent.  Terms defined in the Credit Agreement shall have their defined meanings when used herein.

 

Pursuant to Section 2.19A of the Credit Agreement, the undersigned hereby certifies that

 

1. The Assignee confirms, for the benefit of the Administrative Agent and without liability to any UK Obligor (as defined in Section 2.19A), that it is:

 

(a) [a Qualifying Lender falling within paragraph (i)(A) or paragraph (ii) of the definition of Qualifying Lender];

 

(b) [a Treaty Lender];

 

(c) [not a Qualifying Lender].

 

[Delete as appropriate].

 

2. The Assignee confirms that the person beneficially entitled to interest payable to that Lender in respect of Loan is either:

 

(a) a company resident in the United Kingdom for United Kingdom tax purposes; or

 

(b) a partnership each member of which is:

 

(i) a company so resident in the United Kingdom; or

 

(ii) a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in computing its chargeable profits (within the meaning of section 19 of the CTA) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the CTA; or

 

(c) a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest payable in respect of that advance in computing the chargeable profits (within the meaning of section 19 of the CTA) of that company. (For these purposes “CTA” has the same meaning as defined in Section 2.19A).[Include the confirmation in paragraph 2 above if Assignee comes within definition of paragraph (i)(B) of the definition of Qualifying Lender in Section 2.19A].

 

 

3. The Assignee confirms (for the benefit of the Administrative Agent and without liability to any UK Obligor) that it is a Treaty Lender that holds a passport under the HMRC DT Treaty Passport scheme (reference number [    ]) and is tax resident in [      ], so that interest payable to it by borrowers is generally subject to full exemption from UK withholding tax and notifies the Parent Borrower that:

 

(a) each UK Obligor which is a UK Obligor on the date on which the Assignee becomes a Lender under this Agreement must, to the extent that the Assignee becomes a Lender under a Facility which is made available to that UK Obligor pursuant to Section 2.1 (Commitments; Incremental Facilities) of this Agreement, make an application to HM Revenue & Customs under form DTTP2 within 30 days of the date on which the Assignee becomes a Lender under this Agreement; and

 

(b) each UK Obligor which becomes a party to this Agreement as a UK Obligor after the date on which the Assignee becomes a party must, to the extent that the Assignee becomes a Lender under a Facility which is made available to that UK Obligor pursuant to Section 2.1 (Commitments; Incremental Facilities) of this Agreement, make an application to HM Revenue & Customs under form DTTP2 within 30 days of the UK Obligor becoming a party to this Agreement.

 

(For these purposes “UK Obligor” has the same meaning as defined in Section 2.19A).

 

[The confirmation in the paragraph 3 above must be included if the Assignee holds a passport under the HMRC DT Treaty Passport scheme and wishes that scheme to apply to the Agreement].

 

IN WITNESS WHEREOF, the undersigned has duly executed this certificate as of the      day of                       .

 

 

	
 
    	
[Lender]
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

 

EXHIBIT E

 

[FORM OF]
 BORROWING SUBSIDIARY AGREEMENT(1)

 

BORROWING SUBSIDIARY AGREEMENT, dated as of                        20   (this “Agreement”), among [NAME OF FOREIGN SUBSIDIARY BORROWER], a                     (the “Subsidiary”), SPX CORPORATION, a Delaware corporation (the “Parent Borrower”), [DEUTSCHE BANK AG DEUTSCHLANDGESCHÄFT BRANCH, as foreign trade facility agent (in such capacity, the “Foreign Trade Facility Agent”),] and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the several banks and other financial institutions or entities (the “Lenders”) from time to time parties to the Credit Agreement, dated as of June 30, 2011 (as amended by that certain First Amendment to Credit Agreement dated as of October     , 2011 and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Parent Borrower, the Foreign Subsidiary Borrowers (as defined in the Credit Agreement), the Lenders, the Administrative Agent and the Foreign Trade Facility Agent.

 

The parties hereto hereby agree as follows:

 

1.                                     Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 

2.                                     Pursuant to Section 2.23[(a)][(b)] of the Credit Agreement, the Parent Borrower hereby designates the Subsidiary as a Foreign Subsidiary Borrower in respect of the [Global Revolving Facility][Foreign Trade Facility] [Bilateral Foreign Trade Facility] under the Credit Agreement.

 

3.                                     The Parent Borrower and the Subsidiary, jointly and severally, represent and warrant that the representations and warranties contained in the Credit Agreement are true and correct in all material respects on and as of the date hereof to the extent such representations and warranties relate to the Subsidiary and this Agreement.

 

4.                                     The Parent Borrower agrees that the guarantee of the Parent Borrower contained in the Guarantee and Collateral Agreement will apply to the obligations of the Subsidiary as a Foreign Subsidiary Borrower.

 

5.                                     For the avoidance of doubt, each party hereto acknowledges and agrees that (a) the Subsidiary shall not be liable for the Obligations of any other Loan Party and (b) the Obligations of the Subsidiary in respect of extensions of credit under the Credit Agreement shall not be secured by any assets of such Subsidiary.

 

6.                                     Upon execution of this Agreement by the Parent Borrower, the Subsidiary [, the Foreign Trade Facility Agent], the Administrative Agent [the Global Revolving Lenders] [the Foreign Issuing Lenders] [Lenders with a Foreign Credit Commitment], (a) the Subsidiary shall be a party to the Credit 

 

(1)  The following agreement may be subject to adjustments that are customary for similar agreements entered into in the Foreign Subsidiary Borrower’s jurisdiction of organization or formation, provided that such adjustments are, in the reasonable opinion of counsel to such Borrower, required for the validity or enforceability of such agreement and are reasonably satisfactory to the Administrative Agent

 

 

Agreement and shall be a Foreign Subsidiary Borrower and a Borrower, in each case under the [Global Revolving Facility] [Foreign Trade Facility] [Bilateral Foreign Trade Facility], for all purposes thereof, and (b) the Subsidiary hereby agrees to be bound by all provisions of the Credit Agreement.

 

7.                                     In the event of any inconsistency between the terms and conditions of the Credit Agreement and the terms and conditions of this Agreement, any form of [Letter of Credit] [Foreign Credit Instrument] application or other agreement submitted by a Borrower to, or entered into by a Borrower with, the applicable [Foreign] Issuing Lender relating to any [Letter of Credit] [Foreign Credit Instrument], the terms and conditions of the Credit Agreement shall control.

 

8.                                     This Agreement shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York (including Section 5-1401 and 5-1402 of the New York General Obligations Law).

 

9.                                     This Agreement may be executed in any number of counterparts (including by facsimile, pdf or other electronic transmission), each of which shall be an original, and all of which, when taken together, shall constitute one agreement.

 

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

 

	
 
    	
[SUBSIDIARY]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
SPX   CORPORATION
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
[DEUTSCHE BANK AG DEUTSCHLANDGESCHÄFT BRANCH],
    
	
 
    	
as   Foreign Trade Facility Agent
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:]
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

	
 
    	
[GLOBAL   REVOLVING LENDERS]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
[FOREIGN   ISSUING LENDERS]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
[LENDERS   WITH A FOREIGN CREDIT COMMITMENT]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

 

Address for notices to Subsidiary:

 

 

 

 

EXHIBIT O

 

[FORM OF] FOREIGN ISSUING LENDER JOINDER AGREEMENT

 

THIS FOREIGN ISSUING LENDER JOINDER AGREEMENT (this “Agreement”) dated as of                    , 20     is among SPX CORPORATION, a Delaware corporation (the “Parent Borrower”), the Foreign Subsidiary Borrowers(2) identified on the signature pages hereto (the “Foreign Subsidiary Borrowers”), the Subsidiary Guarantors identified on the signature pages hereto (the “Subsidiary Guarantors”), [                              ] (the “New Foreign Issuing Lender”), BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) for the banks and other financial institutions (the “Lenders”) party to the Credit Agreement (as hereafter defined) and DEUTSCHE BANK AG DEUTSCHLANDGESCHÄFT BRANCH, as the Foreign Trade Facility Agent (in such capacity, the “Foreign Trade Facility Agent”).

 

WITNESSETH

 

WHEREAS the Parent Borrower, the Foreign Subsidiary Borrowers, the Lenders, the Foreign Trade Facility Agent and the Administrative Agent are parties to that certain Credit Agreement, dated as of June 30, 2011 (as amended by the First Amendment to Credit Agreement dated as of October     , 2011 and as further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”);

 

WHEREAS, pursuant to Section 2.6(t) of the Credit Agreement, the Parent Borrower has the right to designate additional Foreign Issuing Lenders to provide additional Participation Foreign Credit Instrument Issuing Commitments (an “Additional Participation Foreign Credit Instrument Issuing Commitment”) and/or additional Bilateral Foreign Credit Instrument Issuing Commitments (an “Additional Bilateral Foreign Credit Instrument Issuing Commitment”) and/or designate existing Foreign Issuing Lenders to provide an increase to its existing Participation Foreign Credit Instrument Issuing Commitment (an “Increased Participation Foreign Credit Instrument Issuing Commitment”) and/or its existing Bilateral Foreign Credit Instrument Issuing Commitments (an “Increased Bilateral Foreign Credit Instrument Issuing Commitment”); and

 

WHEREAS, the New Foreign Issuing Lender has agreed to provide a [$                      ] [Participation Foreign Credit Instrument Issuing Commitment] [Bilateral Foreign Credit Instrument Issuing Commitment] under the Credit Agreement which is an [Additional Participation Foreign Credit Instrument Issuing Commitment] [Additional Bilateral Foreign Credit Instrument Issuing Commitment] [Increased Participation Foreign Credit Instrument Issuing Commitment] [Increased Bilateral Foreign Credit Instrument Issuing Commitment] on the terms set forth herein.

 

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                       Defined Terms.  Capitalized terms used herein but not defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 

(2)  Only include signature pages for those Foreign Subsidiary Borrowers under the Foreign Trade Facility.

 

 

2.                                       Commitment.  The New Foreign Issuing Lender hereby agrees that from and after the date hereof the New Foreign Issuing Lender shall have a [Participation Foreign Credit Instrument Issuing Commitment] [Bilateral Foreign Credit Instrument Issuing Commitment] of [$                    ] under the Credit Agreement.  [The Parent Borrower, the Foreign Subsidiary Borrowers and the New Foreign Issuing Lender hereby acknowledge, agree and confirm that the New Foreign Issuing Lender shall from and after the date hereof be deemed to be a party to the Credit Agreement in such capacity and a “Foreign Issuing Lender” for all purposes of the Credit Agreement and the other Loan Documents, and shall have all of the rights and obligations of a Foreign Issuing Lender under the Credit Agreement and the other Loan Documents as if the New Foreign Issuing Lender had executed the Credit Agreement] [If such New Foreign Issuing Lender is already a party to the Credit Agreement, the Parent Borrower, the Foreign Subsidiary Borrowers and the New Foreign Issuing Lender hereby acknowledge, agree and confirm that the New Foreign Issuing Lender shall continue to have all of the rights and obligations of a Foreign Issuing Lender under the Credit Agreement and the other Loan Documents].

 

3.                                       Conditions Precedent.  This Agreement shall be effective as of the date hereof upon satisfaction of each of the following conditions precedent:

 

(a)                                  receipt by the Administrative Agent of this Agreement executed by the Parent Borrower, the Foreign Subsidiary Borrowers, the Subsidiary Guarantors, the New Foreign Issuing Lender, the Foreign Trade Facility Agent and the Administrative Agent; and

 

(b)                                 receipt by the Administrative Agent of a certificate dated as of the date of the [Additional Participation Foreign Credit Instrument Issuing Commitment] [Additional Bilateral Foreign Credit Instrument Issuing Commitment] [Increased Participation Foreign Credit Instrument Issuing Commitment] [Increased Bilateral Foreign Credit Instrument Issuing Commitment] from a Responsible Officer of the Parent Borrower, certifying that, before and after giving effect to the [Additional Participation Foreign Credit Instrument Issuing Commitment] [Additional Bilateral Foreign Credit Instrument Issuing Commitment] [Increased Participation Foreign Credit Instrument Issuing Commitment] [Increased Bilateral Foreign Credit Instrument Issuing Commitment] , (A) the representations and warranties contained in Article III of the Credit Agreement and in the other Loan Documents are true and correct in all material respects on and as of the date of the [Additional Participation Foreign Credit Instrument Issuing Commitment] [Additional Bilateral Foreign Credit Instrument Issuing Commitment] [Increased Participation Foreign Credit Instrument Issuing Commitment] [Increased Bilateral Foreign Credit Instrument Issuing Commitment], except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date and (B) no Default or Event of Default shall have occurred and be continuing.

 

4.                                       Notices.  The applicable address, facsimile number and electronic mail address of the New Foreign Issuing Lender for purposes of Section 9.1 of the Credit Agreement are as set forth in the administrative questionnaire delivered by the New Foreign Issuing Lender to the Administrative Agent, the Foreign Trade Facility Agent and the Parent Borrower on or before the date hereof or to such other address, facsimile number and electronic mail address as shall be designated by the New Foreign Issuing Lender in a notice to the Administrative Agent, the Foreign Trade Facility Agent and the Parent Borrower.

 

5.                                       Reaffirmation of Guarantee.  Each Subsidiary Guarantor (a) acknowledges and consents to all of the terms and conditions of this Agreement and (b) agrees that this Agreement and all documents executed in connection herewith do not operate to reduce or discharge such Subsidiary Guarantor’s obligations under the Loan Documents.

 

 

6.                                       Schedule 1.1A.  The parties hereto agree that Schedule 1.1A to the Credit Agreement is hereby deemed to be amended to reflect the [Additional Participation Foreign Credit Instrument Issuing Commitment] [Additional Bilateral Foreign Credit Instrument Issuing Commitment] [Increased Participation Foreign Credit Instrument Issuing Commitment] [Increased Bilateral Foreign Credit Instrument Issuing Commitment] of the New Foreign Issuing Lender.

 

7.                                       Acknowledgment by Agents.  Each of the Administrative Agent and the Foreign Trade Facility Agent hereby acknowledge and agree that the New Foreign Issuing Lender is reasonably acceptable to the Administrative Agent and the Foreign Trade Facility Agent.

 

8.                                       Governing Law.  This Agreement shall be deemed to be a contract made under, and for all purposes shall be construed in accordance, with the laws of the State of New York (including Sections 5-1401 and 5-1402 of the New York General Obligations Law).

 

9.                                       Counterparts.  This Agreement may be executed in multiple counterparts, each of which shall constitute an original but all of which when taken together shall constitute one contract.  Delivery of any executed counterparts of this Agreement by telecopier, pdf or other electronic transmission shall be effective as an original and shall constitute a representation that an executed original shall be delivered.

 

[Signature Pages Follow]

 

 

IN WITNESS WHEREOF, the Parent Borrower, the Foreign Subsidiary Borrowers, the Subsidiary Guarantors, the New Foreign Issuing Lender, the Foreign Trade Facility Agent and the Administrative Agent have caused this Agreement to be executed by their officers thereunto duly authorized as of the date hereof.

 

	
 
    	
SPX   CORPORATION,
    
	
 
    	
a   Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
[FOREIGN   SUBSIDIARY BORROWER(S)]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
[SUBSIDIARY   GUARANTOR(S)]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
[NEW   FOREIGN ISSUING LENDER]
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
DEUTSCHE BANK AG DEUTSCHLANDGESCHÄFT BRANCH,
    
	
 
    	
as Foreign Trade Facility Agent
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00194-of-00352.parquet"}]]