Document:

exv10w1

Exhibit 10.1

EXECUTION VERSION

VOTING AGREEMENT

by and among

Catalyst Holdings, Inc.

and

the Stockholders named herein

dated as of November 24, 2010

 

 

VOTING AGREEMENT

     This Voting Agreement (this “Agreement”) is entered into as of November 24, 2010, by
and among Catalyst Holdings, Inc., a Delaware corporation (“Parent”) and the undersigned
stockholders (each a “Stockholder” and collectively, the “Stockholders”) of CPI
International, Inc. (the “Company”). Capitalized terms used but not defined herein shall
have the meanings set forth in the Agreement and Plan of Merger (the “Merger Agreement”),
dated as of November 24, 2010, by and among Parent, Catalyst Acquisition, Inc., a Delaware
corporation and wholly owned subsidiary of Parent (“Merger Sub”), and the Company.

WITNESSETH:

     WHEREAS, as of the date hereof, the Stockholders “beneficially own” (as such term is defined
in Rule 13d-3 promulgated under the Exchange Act) (including entitlement to dispose of (or to
direct the disposition of) and have the right to vote (or to direct the voting of)) 8,868,738
shares of common stock, par value $0.01 per share (the “Company Stock”), of the Company
(such shares of Company Stock, together with any other shares of Company Stock the voting power
over which is directly or indirectly acquired by any Stockholder until the termination of this
Agreement pursuant to the terms hereof, are collectively referred to herein as the “Stockholder
Owned Shares”);

     WHEREAS, simultaneously herewith, Parent, Merger Sub and the Company are entering into the
Merger Agreement, pursuant to which Merger Sub will merge with and into the Company, with the
Company surviving as a wholly owned subsidiary of Parent (the “Merger”); and

     WHEREAS, as a condition to the willingness of Parent to enter into the Merger Agreement, and
as an inducement and in consideration therefor, the Stockholders are executing this Agreement;

     NOW, THEREFORE, in consideration of the foregoing and the mutual promises, representations,
warranties, covenants and agreements contained herein, the parties hereto, intending to be legally
bound, hereby agree as follows:

ARTICLE I

DEFINITIONS

     Section 1.1 Other Definitions. For purposes of this Agreement:

          (a) “Affiliate” means, with respect to any specified Person, any Person that directly,
or indirectly through one or more intermediaries, controls, or is controlled by, or is under common
control with, the Person specified.

          (b) “Company Subject Shares” means shares of Company Stock which the Stockholders
“beneficially own” and have the right to vote (or to direct the voting of), together with any other
shares of Company Stock the voting power over which is directly

 

 

or indirectly acquired by any Stockholder until the termination of this Agreement pursuant to
the terms hereof, equal to forty-nine and nine tenths percent (49.9%) of the total number of
outstanding shares of Company Stock.

          (c) “Person” means an individual, corporation, limited liability company, general or
limited partnership, association, trust, unincorporated organization, other entity or group.

          (d) “Representative” means, with respect to any particular Person, any director,
officer, employee, accountant, consultant, legal counsel, investment banker, advisor, agent or
other representative of such Person.

ARTICLE II

VOTING AGREEMENT AND GRANT OF IRREVOCABLE PROXY

     Section 2.1 Agreement to Vote the Company Subject Shares.

          (a) Subject to Section 2.1(b) of this Agreement, from and after the date hereof, at any
meeting of the Company’s stockholders (or any adjournment or postponement thereof), however called:

          (i) the Stockholders shall vote (or cause to be voted) in person or by proxy all of
the Company Subject Shares:

               (1) in favor of the adoption of the Merger Agreement and any of the other
transactions contemplated by the Merger Agreement, including the Merger (and in
favor of any actions and proposals required, or submitted for approval at any
meeting of the Company stockholders, in furtherance thereof);

               (2) against any action, proposal, transaction or agreement that is intended,
or would reasonably be expected, directly or indirectly, to result in a breach of
any covenant, representation, warranty or other obligation or agreement of the
Company set forth in the Merger Agreement or of the Stockholders set forth in this
Agreement; and

               (3) against the following actions or proposals (other than the transactions
contemplated by the Merger Agreement): (A) any Acquisition Proposal; (B) any
change in the individuals who constitute the board of directors of the Company;
(C) any material change in the present capitalization of the Company or any
amendment of the Company’s certificate of incorporation or bylaws; (D) any other
material change in the Company’s corporate structure or business; or (E) any other
action or proposal involving the Company or any of its subsidiaries that is
intended, or would reasonably be expected, to prevent, impede, interfere with,
delay, postpone or adversely affect the transactions contemplated by the Merger
Agreement; and

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          (ii) the Stockholders, in their sole discretion, shall vote (or cause to be voted), in
person or by proxy, all of Stockholder Owned Shares in excess of the Company Subject Shares
in any manner they each may choose.

          (b) Notwithstanding Section 2.1(a) of this Agreement, in the event of a Board Recommendation
Change made pursuant to Section 7.2(c)(ii) of the Merger Agreement and in compliance with the
Merger Agreement (including Section 7.2(d) thereof), the obligation of the Stockholders to vote the
Company Subject Shares as to which the Stockholders control the right to vote in the manner set
forth in Section 2.1(a) of this Agreement shall be modified (without any further notice or any
action by the Company or a Stockholder) such that:

          (i) the Stockholders shall vote (or cause to be voted) such number of Company Subject
Shares equal to twenty-five percent (25.0%) of the total number of outstanding shares of
Company Stock (the “Lock-Up Subject Shares”) as provided in Section 2.1(a); and

          (ii) the Stockholders, in their sole discretion, shall be entitled to vote (or cause
to be voted), in person or by proxy, all of the remaining Stockholder Owned Shares in
excess of the Lock-Up Shares in any manner they each may choose.

          (c) In connection with any vote contemplated by this Section 2.1 of this Agreement, the
Stockholders shall cause all of the Stockholder Owned Shares to be duly counted for purposes of
determining that a quorum is present and shall comply with all necessary procedures in connection
with recording the results of such vote. Each Stockholder agrees not to enter into any agreement
or commitment with any Person the effect of which would violate or be inconsistent with the
provisions and agreements set forth in this Article II.

     Section 2.2 Notice of Board Recommendation Change. Any Board Recommendation Change
made pursuant to Section 7.2(c)(ii) of the Merger Agreement and in compliance with the Merger
Agreement (including Section 7.2(d) thereof) shall be deemed to be notice from each Stockholder
that the number of Company Subject Shares covered by the agreement to vote in the manner set forth
in Section 2.1(a) of this Agreement, in each case, shall be limited to twenty-five percent (25.0%)
of the total number of outstanding shares of Common Stock as provided in Section 2.1(b). Parent
and the Stockholders shall take such further action or execute such other instruments as may be
necessary under applicable Law to effectuate the intent of such modification of such voting
agreement.

     Section 2.3 Irrevocable Proxy.

          (a) In furtherance of each Stockholder’s agreement in Section 2.1 of this Agreement, but
subject to Sections 2.3(b) and (c), such Stockholder hereby appoints Parent and Parent’s designees,
and each of them individually, as such Stockholder’s proxy and attorney-in-fact (with full power of
substitution), for and in the name, place

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and stead of such Stockholder, to vote all Company Subject Shares owned by such Stockholder
(at any meeting of the Company’s stockholders (or any adjournment or postponement thereof), however
called), or to execute one or more written consents in respect of such Company Subject Shares:

          (i) in favor of the adoption of the Merger Agreement and any of the other transactions
contemplated by the Merger Agreement, including the Merger (and in favor of any actions and
proposals required, or submitted for approval at any meeting of the Company stockholders,
in furtherance thereof);

          (ii) against any action, proposal, transaction or agreement that is intended, or would
reasonably be expected, directly or indirectly, to result in a breach of any covenant,
representation, warranty or other obligation or agreement of the Company set forth in the
Merger Agreement or of the Stockholders set forth in this Agreement; and

          (iii) against the following actions or proposals (other than the transactions
contemplated by the Merger Agreement): (A) any Acquisition Proposal; (B) any change in the
individuals who constitute the board of directors of the Company; (C) any material change
in the present capitalization of the Company or any amendment of the Company’s certificate
of incorporation or bylaws; (D) any other material change in the Company’s corporate
structure or business; or (E) any other action or proposal involving the Company or any of
its subsidiaries that is intended, or would reasonably be expected, to prevent, impede,
interfere with, delay, postpone or adversely affect the transactions contemplated by the
Merger Agreement.

          (b) Notwithstanding Section 2.3(a) of this Agreement, in the event of a Board Recommendation
Change made pursuant to Section 7.2(c)(ii) of the Merger Agreement and in compliance with the
Merger Agreement (including Section 7.2(d) thereof), the right and proxy of Parent and its
designees to vote or to execute one or more written consents in respect of the Company Subject
Shares owned by the Stockholders in the manner set forth in Section 2.3(a) of this Agreement, and
appointment as attorney-in-fact (collectively, the “Proxy”), shall be modified (without any further
notice or any action by the Company or a Stockholder) such that:

          (i) the Proxy shall be limited to the Lock-Up Subject Shares as provided in Section
2.3(a); and

          (ii) the Stockholders, in their sole discretion, shall be entitled to vote (or cause
to be voted), in person or by proxy, all of the remaining Stockholder Owned Shares in
excess of the Lock-Up Subject Shares any manner they each may choose;

provided, that to the extent that Parent or its designees do not vote or execute one
or more consents in respect of such Lock Up Subject Shares, the Stockholders

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shall be entitled to vote such Lock Up Subject Shares or to execute one or more
consents in respect thereof, as provided in Section 2.3(a);

          (c) Such proxy shall (A) be valid and irrevocable until the termination of this Agreement in
accordance with (or as otherwise provided in) Article VI hereof and (B) automatically terminate
upon the termination of this Agreement in accordance with (or as otherwise provided in) Article VI
hereof. Each Stockholder represents that any and all other proxies heretofore given in respect of
the Company Subject Shares owned by such Stockholder are revocable, and that such other proxies
have been revoked. Each Stockholder affirms that the foregoing proxy is: (x) given (I) in
connection with the execution of the Merger Agreement and (II) to secure the performance of such
Stockholder’s duties under this Agreement, (y) coupled with an interest and may not be revoked
except as otherwise provided in this Agreement and (z) intended to be irrevocable prior to
termination of this Agreement or as otherwise provided in Article VI hereof. All authority herein
conferred shall survive the death or incapacity of each Stockholder and shall be binding upon the
heirs, estate, administrators, personal representatives, successors and assigns of such
Stockholder.

ARTICLE III

STANDSTILL AND NO-SOLICITATION IN RESPECT OF COMPANY SHARES

     Section 3.1 Standstill in Respect of Stockholder Owned Shares. Each of the
Stockholders hereby agrees that, from and after the date hereof until the earlier of the Effective
Time of the Merger and the termination of the Merger Agreement, such Stockholder shall not,
directly or indirectly, unless (i) specifically requested by Parent or (ii) expressly contemplated
by the terms of this Agreement or the Merger Agreement:

          (a) sell, transfer, tender, pledge, encumber, assign or otherwise dispose of (collectively, a
“Transfer”), or enter into any contract, option or other agreement with respect to, or
consent to, a Transfer of, any or all of the Stockholder Owned Shares;

          (b) acquire, offer to acquire, or agree to acquire, directly or indirectly, by purchase or
otherwise, any assets of the Company or any subsidiary or division thereof;

          (c) make, or in any way participate in, directly or indirectly, any “solicitation” of
“proxies” (as such terms are used in the rules of the Securities and Exchange Commission) to vote,
or seek to advise or influence any Person with respect to the voting of, any voting securities of
the Company (including by making publicly known such Stockholder’s position on any matter presented
to stockholders), other than to recommend that stockholders of the Company vote in favor of the
Merger and the Merger Agreement;

          (d) submit to the Company any stockholder proposal under Rule 14a-8 under the Exchange Act;

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          (e) make any public announcement with respect to, or submit a proposal for, or offer of (with
or without conditions) any extraordinary transaction involving the Company or its securities or
assets;

          (f) form, join or in any way participate in a “group” (as defined in Section 13(d)(3) under
the Exchange Act) in connection with any of the foregoing;

          (g) seek, in any way which may be reasonably likely to require, involve or trigger public
disclosure of such request pursuant to applicable Law, to have any provision of this Section 3.1
amended, modified or waived; or

          (h) otherwise take, directly or indirectly, any actions with the purpose of avoiding or
circumventing any provision of this Section 3.1 or which could reasonably be expected to have the
effect of preventing, impeding, interfering with or adversely affecting the consummation of the
transactions contemplated by the Merger Agreement or its ability to perform the Company’s
obligations under this Agreement.

     Section 3.2 Dividends, Distributions, Etc. in Respect of Stockholder Owned Shares. In
the event of a stock dividend or stock distribution, or any change in the Company Stock by reason
of any stock dividend or stock distribution, split-up, recapitalization, combination, exchange of
shares or the like, the term “Stockholder Owned Shares” shall be deemed to refer to and include the
Stockholder Owned Shares as well as all such stock dividends and stock distributions and any
securities into which or for which any or all of the Stockholder Owned Shares may be changed or
exchanged or which are received in such transaction.

     Section 3.3 Acquisition Proposals in Respect of Stockholder Owned Shares. (a) Each
Stockholder shall, and each Stockholder shall cause each of its Representatives to, immediately
cease and cause to be terminated any existing activities, discussions or negotiations with any
Third Party conducted prior to the date hereof with respect to any Acquisition Proposal. Each of
the Stockholders shall not, nor in the case of clauses (i) and (ii) shall it permit any of its
Affiliates to, nor shall it authorize or knowingly permit any Representative of, the Stockholders
or in the case of clauses (i) and (ii) any of their Affiliates to, (i) solicit or initiate, or take
any action to knowingly encourage, or knowingly facilitate or knowingly induce, directly or
indirectly, any inquiries relating to, or the submission of, any Acquisition Proposal from any
Third Party; (ii) participate in any discussions or negotiations regarding any Acquisition
Proposal, or furnish to any Person any non-public information or data with respect to or access to
the properties of the Company in connection with an Acquisition Proposal; or (iii) enter into any
agreement, arrangement or understanding with respect to any Acquisition Proposal or enter into any
agreement requiring it to abandon, terminate or fail to consummate the Merger and the transactions
contemplated by this Agreement. Notwithstanding the foregoing sentence or any other provision of
this Agreement, if, after the date hereof and prior to the receipt of stockholder approval of the
Merger Agreement, the Stockholders receive or the Company receives a bona fide Acquisition Proposal
by a Third Party and such Acquisition Proposal did not result, directly or indirectly, from a
breach of this Section 3.3 or Section 7.2 of the Merger Agreement, which, in accordance with the

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applicable provisions of Section 7.2 of the Merger Agreement, the Company Board or Committee
determines in good faith (after consulting outside legal and financial advisors) that such
Acquisition Proposal constitutes, or would reasonably be expected to lead to a Superior Acquisition
Proposal, and the Company or the Stockholders receives from such Third Party an executed
confidentiality agreement having provisions that are no less restrictive than those of the
Confidentiality Agreement with respect to Parent (except with respect to any “standstill” provision
or other provision having similar effect in the Confidentiality Agreement; provided that the
Confidentiality Agreement has been deemed amended on or prior to the date of such confidentiality
agreement with such Third Party by removing paragraph 9 of the Confidentiality Agreement), then the
Stockholders may, in response to such Acquisition Proposal, subject to compliance with this Section
3.3 (and following such determination of the Company Board or Committee described above) and after
giving notice to Parent (x) furnish information or data or access with respect to the Company and
its Subsidiaries to, and (y) participate in discussions and negotiations directly or through their
Representatives with, such Third Party; provided that the Stockholders shall provide or make
available, to the extent not previously provided or made available to Parent or its
representatives, to Parent any material non-public information with respect to the Stockholders
that is provided to the Third Party making such Acquisition Proposal prior to or substantially
concurrently with the time it is provided or made available to such Third Party; provided further,
however, that nothing in this Section 3.3 shall require the Stockholders to provide or make
available to Parent information that it is not legally permitted to disclose or the disclosure of
which would contravene any applicable Law or binding order; provided further that if the
Stockholders had made such information available to such Third Party the Stockholders shall use all
reasonable best efforts to make such information available to Parent.

          (b) Each Stockholder shall advise Parent orally and in writing, promptly (but in no event
later than 24 hours) after receipt thereof, of (i) any proposal for an Acquisition Proposal
received by any Representative of any Stockholder, and (ii) the material terms of such Acquisition
Proposal (including the identity of the entity proposing the Acquisition Proposal), and provide a
copy of such proposal for an Acquisition Proposal to Parent if such proposal is in writing. Each
Stockholder shall keep Parent reasonably informed on a reasonably current basis of the status of,
and any material changes to, the terms of any such Acquisition Proposal and the status of
discussions and negotiations with respect thereto of which it is aware. Performance by the Company
of its obligations under Section 7.2 of the Merger Agreement shall be deemed performance by the
Stockholders of the provisions of this Section 3.3(b) with respect to the same matter so long as
any such activities by the Stockholders are consistent in all material respects with the
discussions or activity underlying the required disclosure by the Company to Parent.

          (c) Each Stockholder agrees that it will promptly inform its Representatives and its
Affiliates’ Representatives of the obligations undertaken in this Article III.

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          (d) Notwithstanding any provision in this Agreement to the contrary, the Stockholders enter
into the agreements and understandings herein solely in their capacity as the beneficial owners of
the Stockholder Owned Shares, and nothing herein shall limit or affect any actions taken by any
Representative of a Stockholder in such Representative’s capacity as a director of the Company or
cause a Stockholder to become obligated to take or effect any action hereunder.

     Section 3.4 Certain Provisions.

          (a) Notwithstanding anything to the contrary in this Article III, (1) no provision of this
Article III shall prohibit, limit or otherwise restrict a Representative of a Stockholder in his
capacity as a director or officer of the Company, and (2) from and after a Board Recommendation
Change made in compliance with the Merger Agreement in connection with a Superior Acquisition
Proposal, Section 2.1(a) shall apply only with respect to the Lock-Up Subject Shares and, for the
avoidance of doubt, the Stockholders, in their sole discretion, shall be able to enter into any
voting agreement, proxy, consent or power of attorney with respect to the remaining Stockholder
Owned Shares. Notwithstanding anything to the contrary in this Agreement, the restrictions in this
Article III shall terminate and be of no further force and effect upon the termination of this
Agreement or the consummation of the Merger.

          (b) For the purposes of this Agreement, the Company shall be deemed not to be an Affiliate or
Subsidiary of any one or more of the Stockholders, and any officer, director, employee, agent or
advisor of the Company (in each case, in their capacities as such) shall be deemed not to be a
Representative of a Stockholder.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE STOCKHOLDERS

     The Stockholders hereby represent and warrant, jointly and severally, to Parent as follows:

     Section 4.1 Corporate Organization. Each Stockholder is duly organized, validly
existing and in good standing under the Laws of its jurisdiction of formation.

     Section 4.2 Authority Relative to This Agreement. Each Stockholder has the requisite
corporate power and authority to execute and deliver this Agreement and to consummate the
transactions contemplated hereby. This Agreement and the consummation by each Stockholder of the
transactions contemplated hereby have been duly and validly authorized by the board of directors,
general partner or similar governing body of each Stockholder, and no other corporate proceedings
on the part of each Stockholder are necessary to authorize this Agreement or to consummate the
transactions contemplated hereby. This Agreement has been duly and validly executed and delivered
by each Stockholder and, assuming that this Agreement constitutes the valid and binding agreement
of Parent, constitutes the valid and binding agreement of each Stockholder, enforceable against
each Stockholder in accordance with its terms, except that such

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enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium or
other similar Laws now or hereafter in effect relating to creditors’ rights generally, and (ii)
general principles of equity (regardless of whether enforceability is considered in a proceeding in
equity or at law).

     Section 4.3 Ownership of Shares. The Stockholders beneficially own 8,868,738 shares
of Company Stock as of the date hereof. The Stockholders have the sole power to vote (or cause to
be voted) such shares of Company Stock and have good and valid title to the Company Stock, free and
clear of any and all pledges, mortgages, liens, charges, proxies, voting agreements, encumbrances,
adverse claims, options, security interests and demands of any nature or kind whatsoever, other
than those created by this Agreement.

     Section 4.4 No Conflicts. Neither the execution and delivery of this Agreement by the
Stockholders, nor the consummation by the Stockholders of the transactions contemplated hereby,
will (i) conflict with or result in any breach of the organizational documents of any Stockholder;
(ii) require any Permit from any or Governmental Entity or any authorization, consent or approval
from any other Person; (iii) result in, or give rise to, a violation or breach of or a default
under any of the terms of any material contract, understanding, agreement or other instrument or
obligation to which any Stockholder is a party or by which any Stockholder or any of the
Stockholder Owned Shares or the Stockholder’s assets may be bound, or (iv) violate any applicable
Law, except, with respect to any of the foregoing clauses (i) through (iv), as does not and could
not reasonably be expected to impair any Stockholder’s ability to perform its obligations under
this Agreement.

     Section 4.5 Reliance by Parent. Each Stockholder understands and acknowledges that
Parent is entering into the Merger Agreement in reliance upon the Stockholder’s execution and
delivery of this Agreement and the representations and warranties of Stockholder contained herein.
The Stockholder understands and acknowledges that the Merger Agreement governs the terms of the
Merger and the other transactions contemplated thereby.

ARTICLE V

REPRESENTATIONS AND WARRANTIES OF PARENT

     Parent hereby represents and warrants to the Stockholders as follows:

     Section 5.1 Corporate Organization. Parent is a corporation duly organized, validly
existing and in good standing under the Laws of its jurisdiction of incorporation.

     Section 5.2 Authority Relative to This Agreement. Parent has the requisite corporate
power and authority to execute and deliver this Agreement and to consummate the transactions
contemplated hereby. This Agreement and the consummation by Parent of the transactions
contemplated hereby have been duly and validly authorized by the board of directors of Parent, and
no other corporate proceedings on the part of Parent are

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necessary to authorize this Agreement or to consummate the transactions contemplated hereby.
This Agreement has been duly and validly executed and delivered by Parent and, assuming that this
Agreement constitutes the valid and binding agreement of the Stockholders, constitutes the valid
and binding agreement of Parent, enforceable against Parent in accordance with its terms, except
that such enforceability may be limited by (i) bankruptcy, insolvency, reorganization, moratorium
or other similar Laws now or hereafter in effect relating to creditors’ rights generally, and (ii)
general principles of equity (regardless of whether enforceability is considered in a proceeding in
equity or at law).

     Section 5.3 No Conflicts. Neither the execution and delivery of this Agreement by
Parent, nor the consummation by Parent of the transactions contemplated hereby, will (i) conflict
with or result in any breach of the Restated Certificate of Incorporation or the Amended and
Restated By-Laws of Parent; (ii) require any Permit from any Governmental Entity; (iii) result in,
or give rise to, a violation or breach of or a default under any of the terms of any material
contract, understanding, agreement or other instrument or obligation to which Parent is a party, or
(iv) violate any applicable Law, except, with respect to any of the foregoing clauses (i) through
(iv), as does not and could not reasonably be expected to impair Parent’s ability to perform its
obligations under this Agreement.

ARTICLE VI

TERMINATION

     Section 6.1 Termination.

          (a) Subject to Section 6.1(b), this Agreement shall terminate and none of Parent or any
Stockholder shall have any rights or obligations hereunder upon the earliest to occur of: (i) the
termination of this Agreement by mutual written consent of Parent and the Stockholders, (ii) the
termination of the Merger Agreement in accordance with its terms, and (iii) the Effective Time of
the Merger.

          (b) Notwithstanding Section 6.1(a), (i) termination of this Agreement shall not prevent any
party hereunder from seeking any remedies (at law or in equity) against any other party hereto for
such party’s breach of any of the terms of this Agreement, and (ii) Section 7.2 through Section
7.15, inclusive, of this Agreement shall survive the termination of this Agreement.

ARTICLE VII

MISCELLANEOUS

     Section 7.1 Publication. The Stockholders hereby permit Parent to publish and
disclose in the Proxy Statement (including all documents and schedules filed with the SEC), and any
other filing with a governmental authority or self regulatory authority that may be reasonably
necessary, their identity and ownership of shares of Company Stock

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and the nature of their commitments, arrangements and understandings pursuant to this
Agreement; provided, however, that such publication and disclosure shall be subject to prior
approval by the Stockholders, such approval not to be unreasonably withheld or delayed. In
furtherance of the foregoing, to the extent not provided by the Company, the Stockholders shall
promptly provide such other information with respect to the Stockholders’ ownership of Company
Stock reasonably requested by Parent that Parent reasonably determines is required for inclusion in
any such filings, documents or schedules.

     Section 7.2 Appraisal Rights. To the extent permitted by applicable Law, each
Stockholder hereby waives and agrees not to exercise any rights of appraisal or rights to dissent
from the Merger that it may have under applicable Law.

     Section 7.3 Further Actions. Each of the parties hereto agrees that it will use its
reasonable best efforts to do all things necessary to effectuate this Agreement.

     Section 7.4 Waivers. No action taken pursuant to this Agreement, including any
investigation by or on behalf of any party hereto, nor any failure or delay on the part of any
party hereto in the exercise of any right hereunder, shall be deemed to constitute a waiver by the
party taking such action of compliance of any representations, warranties, covenants or agreements
contained in this Agreement. The waiver by any party hereto of a breach of any provision hereunder
shall not operate or be construed as a waiver of any prior or subsequent breach of the same or any
other provision hereunder.

     Section 7.5 Counterparts. For the convenience of the parties hereto, this Agreement
may be executed in any number of counterparts (including by facsimile or electronic transmission),
each such counterpart being deemed to be an original instrument, and all such counterparts shall
together constitute the same agreement.

     Section 7.6 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to the principles of conflict of
laws thereof.

     Section 7.7 Jurisdiction; Enforcement; Waiver of Jury Trial.

          (a) The parties hereto agree that irreparable damage would occur in the event that any of the
provisions of this Agreement were not performed in accordance with their specific terms or were
otherwise breached and that monetary damages, even if available, would not be an adequate remedy
therefor. It is accordingly agreed that the parties shall be entitled to an injunction or
injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions of this Agreement, without proof of actual damages, in the Court of Chancery of the
State of Delaware in and for New Castle County (the “Chancery Court”) or, if the Chancery
Court lacks subject matter jurisdiction, in any federal court of the United States located in the
State of Delaware, this being in addition to any other remedy to which they are entitled at law or
in equity. Each party hereto agrees not to oppose the granting of such relief in the event a court
determines that such a breach has occurred, and to waive any requirement for the

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securing or posting of any bond in connection with any such remedies. In addition, each of
the parties hereto (i) consents to submit itself to the personal jurisdiction of the Chancery Court
or, if the Chancery Court lacks subject matter jurisdiction, any federal court located in the State
of Delaware in the event any dispute arises out of this Agreement or any of the transactions
contemplated by this Agreement, (ii) agrees that it will not attempt to deny or defeat such
personal jurisdiction by motion or other request for leave from any such court and (iii) agrees
that it will not bring any action relating to this Agreement or any of the transactions
contemplated by this Agreement in any court other than the Chancery Court or, if the Chancery Court
lacks subject matter jurisdiction, a federal court sitting in the State of Delaware.
Notwithstanding the foregoing, each of the parties hereto agrees that it will not bring or support
any action, cause of action, claim, cross-claim or third-party claim of any kind or description,
whether in law or in equity, whether in contract or in tort or otherwise, against the Financing
Sources in any way relating to the Merger Agreement or any of the transactions contemplated by the
Merger Agreement, including but not limited to any dispute arising out of or relating in any way to
the Debt Commitment Letter (as defined in the Merger Agreement) or the performance thereof, in any
forum other than the Supreme Court of the State of New York, County of New York, or, if under
applicable law exclusive jurisdiction is vested in the federal courts, the United States District
Court for the Southern District of New York (and, in either case, appellate courts thereof).

          (b) EACH OF PARENT AND THE STOCKHOLDERS HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY
IN ANY ACTION, SUIT, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE)
ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE DEBT FINANCING.

     Section 7.8 Notices. All notices, requests, instructions or other documents to be
given hereunder by any party to the other parties shall be in writing and shall be deemed duly
given (i) upon delivery, when delivered personally, (ii) one (1) Business Day after being sent by
overnight courier or when sent by facsimile transmission (with a confirming copy sent by overnight
courier), and (iii) three (3) Business Days after being sent by registered or certified mail,
postage prepaid, as follows:

If to Parent to:

Catalyst Holdings, Inc.

c/o Veritas Capital Fund Management, L.L.C.

590 Madison Avenue

New York, NY 10022

Attn: Robert B. McKeon

Facsimile No.: (212) 688-9411

with a copy to:

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

12

 

New York, NY 10036-6522

Attn: Eileen T. Nugent

Kenneth M. Wolff

Telephone: (212) 735-3000

Facsimile No.: (212) 735-2000

If to the Stockholders, to:

Cypress Advisors Inc.

65 East 55th Street

New York, NY 10022

Attention: Jeffrey Hughes

Telephone: (212) 705-0150

Facsimile: (212) 705-0199]

with a copy to:

Golenbock Eiseman Assor Bell & Peskoe LLP

437 Madison Avenue

New York, NY 10022

Attention: Lawrence M. Bell, Esq.

Telephone: (212) 907-7300

Facsimile: (212) 754-0330

     Section 7.9 Entire Agreement; Assignment. This Agreement constitutes the entire
agreement of the parties and supersedes all prior agreements and understandings, both written and
oral, among the parties hereto, or any of them, with respect to the subject matter hereof. This
Agreement may not be assigned by any of the parties hereto by operation of law or otherwise, except
that Parent may assign its rights and obligations hereunder to any direct or indirect wholly owned
subsidiary of Parent or to an entity under common control with Parent, in each case, to which it
also assigns its obligations under the Merger Agreement after providing written notice to the
Stockholders.

     Section 7.10 Parties in Interest. This Agreement shall be binding upon and inure
solely to the benefit of each party hereto and their respective successors and assigns. Subject to
Section 2.3, nothing in this Agreement, express or implied, is intended to or shall confer upon any
other Person any rights, benefits or remedies of any nature whatsoever under or by reason of this
Agreement; the provisions of Section 4.5 and 7.7 shall inure to the benefit of and be enforceable
by each Financing Source and its successors and assigns. This Agreement is intended to create a
contractual relationship between each Stockholder, on the one hand, and Parent, on the other hand,
and is not intended to create, and does not create, any agency, partnership, joint venture or any
like relationship among the parties hereto. Without limiting the generality of the foregoing, none
of the Stockholders or Parent, by entering into this Agreement, intends to form a “group” for
purposes of Rule 13d-5(b)(1) of the Exchange Act or any other similar provision of applicable Law
with Parent or any other shareholder of the Company.

13

 

     Section 7.11 Severability. If any term or other provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other
conditions and provisions of this Agreement shall nevertheless remain in full force and effect so
long as the economic or legal substance of the transactions contemplated hereby is not affected in
a manner adverse to any party. Upon such determination that any term or other provision is
invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith
to modify this Agreement so as to effect the original intent of the parties as closely as possible
in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the
fullest extent possible.

     Section 7.12 Certain Interpretations. For purposes of this Agreement:

          (a) Unless otherwise specified, all references in this Agreement to Articles and Sections
shall be deemed to refer to Articles and Sections of this Agreement.

          (b) The Article and Section captions herein are for convenience of reference only, do not
constitute part of this Agreement and shall not be deemed to limit or otherwise affect any of the
provisions hereof.

          (c) Unless the context otherwise requires, words describing the singular number shall include
the plural and vice versa, and words denoting any gender shall include all genders.

          (d) The words “include,” includes” and “including,” when used herein shall be deemed in each
case to be followed by the words “without limitation.”

          (e) The parties hereto agree that they have been represented by legal counsel during the
negotiation and execution of this Agreement and, therefore, waive the application of any Law,
regulation, holding or rule of construction providing that ambiguities in an agreement or other
document shall be construed against the party drafting such agreement or document.

     Section 7.13 Fees and Expenses. Except as otherwise provided herein, whether or not
the Merger is consummated, all costs and expenses incurred in connection with this Agreement and
the transactions contemplated hereby shall be paid by the party incurring such costs and expenses.

     Section 7.14 Ownership Interest. Nothing contained in this Agreement shall be deemed
to vest in Parent any direct or indirect ownership or incidence of ownership of or with respect to
any Stockholder Owned Shares. All rights, ownership and economic benefits of and relating to the
Stockholder Owned Shares shall remain vested in and belong to the Stockholders, and Parent shall
have no authority to direct the Stockholders in the voting or disposition of any of the Stockholder
Owned Shares, except as otherwise provided in this Agreement.

     Section 7.15 Capacity as a Stockholder. The Stockholders do not make any agreement or
understanding herein in their capacity as being associated with a director of the Company. The
Stockholders make their agreements and understandings herein solely

14

 

in their capacities as the record holder and beneficial owner of the Stockholder Owned Shares
and, notwithstanding anything to the contrary herein, nothing herein shall limit or affect any
actions taken by a Representative of a Stockholder in his capacity as a director of the Company.

15

 

     IN WITNESS WHEREOF, Parent and each Stockholder has caused this Agreement to be duly executed
as of the day and year first above written.

	 	 	 	 	 
	 	CATALYST HOLDINGS, INC.

 	 
	 	By:  	/s/ Robert B. Mckeon
 	 
	 	 	Name:  	Robert B. McKeon 	 
	 	 	Title:  	President	 
	 
	 	CYPRESS MERCHANT BANKING PARTNERS II L.P.

 	 
	 	By:  	/s/ Jeffrey Hughes
 	 
	 	 	Name:  	Jeffrey Hughes 	 
	 	 	Title:  	Managing Member 	 
	 
	 	

CYPRESS MERCHANT B II C.V.

 	 
	 	By:  	/s/ Jeffrey Hughes
 	 
	 	 	Name:  	Jeffrey Hughes 	 
	 	 	Title:  	Managing Member 	 
	 
	 	55TH STREET PARTNERS II L.P.

 	 
	 	By:  	/s/ Jeffrey Hughes
 	 
	 	 	Name:  	Jeffrey Hughes 	 
	 	 	Title:  	Managing Member 	 
	 

[Signature Page to Voting Agreement]Exhibit 10.1

Exhibit 10.1

EXECUTION VERSION

SECOND AMENDMENT TO CREDIT AGREEMENT, WAIVER AND COLLATERAL AGENT CONSENT

This SECOND AMENDMENT TO CREDIT AGREEMENT, WAIVER AND COLLATERAL AGENT CONSENT (this
“Agreement”), dated as of November 24, 2010, among RENTECH ENERGY MIDWEST CORPORATION, a
Delaware corporation (“Borrower”), RENTECH, INC., a Colorado corporation
(“Holdings”), the Subsidiary Guarantors, the Lenders party hereto, and the Collateral Agent
(as defined below) is entered into in connection with the Credit Agreement referred to in the first
recital below.

RECITALS

WHEREAS, Borrower and Holdings are parties to that certain Credit Agreement, dated as of
January 29, 2010 (the “Original Credit Agreement”) and that certain First Amendment to
Credit Agreement, Waiver and Collateral Agent Consent, dated as of July 21, 2010 (the “First
Amendment” and together with the Original Credit Agreement, the “Credit Agreement”;
unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have
the meanings given to them in the Credit Agreement), among Borrower, Holdings, the banks, financial
institutions and other entities party to the Credit Agreement as lenders (the “Lenders”),
and Credit Suisse AG, Cayman Islands Branch, as administrative agent and as collateral agent (in
such capacity, the “Collateral Agent”);

WHEREAS, Borrower has requested that the Required Lenders amend and waive certain provisions
of the Credit Agreement as set forth more fully in this Agreement; and

WHEREAS, the Required Lenders have agreed to such amendments and waivers under the Credit
Agreement, subject to the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of the premises made hereunder, and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound, hereby agree as follows:

Section 1. Amendments to Credit Agreement.

(a) Amendment of Section 1.01 of Credit Agreement. Section 1.01 of the Credit
Agreement is hereby amended by deleting the definitions of “Applicable ECF Percentage”, “Capital
Expenditures”, “Incremental Loan Amount”, “Payment Premium” and “Required Lenders” in their
entirety therefrom and substituting in lieu thereof the following new definitions:

““Applicable ECF Percentage” shall mean, on any date of determination, (a) if, as of
the last day of the fiscal year then ended in respect of which Excess Cash Flow is
being calculated, the Leverage Ratio as of such date is less than 1.00:1.00, the
percentage set forth below that corresponds with the aggregate principal amount of
Loans outstanding on such date set forth opposite such percentage, and (b) if the
Leverage Ratio as of such date is greater than or equal to 1.00:1.00, 100%:

	 	 	 	 	 
	Outstanding Aggregate Principal Amount of Loans	 	Applicable ECF Percentage	 
	 
	 	 	 	 
	Greater than or equal to $65,000,000
	 	 	100	%
	 
	 	 	 	 
	Greater than or equal to $55,000,000 but
less than $65,000,000
	 	 	75	%
	 
	 	 	 	 
	Less than $55,000,000
	 	 	50	%”

 

 

 

““Capital Expenditures” shall mean, for any period, (a) the additions to
property, plant and equipment and other capital expenditures of the Borrower and its
consolidated subsidiaries that are (or should be) set forth in a consolidated
statement of cash flows of the Borrower for such period prepared in accordance with
GAAP, (b) the total consideration incurred by the Borrower and its consolidated
subsidiaries pursuant to clause (i) of the proviso to the definition of “Joint
Carbon Credit Investment Project” and (c) Capital Lease Obligations or Synthetic
Lease Obligations incurred by the Borrower and its consolidated subsidiaries during
such period, but excluding in each case above (i) any such expenditure made to
restore, replace or rebuild property to the condition of such property immediately
prior to any damage, loss, destruction or condemnation of such property, to the
extent such expenditure is made with insurance proceeds, condemnation awards or
damage recovery proceeds relating to any such damage, loss, destruction or
condemnation and (ii) any amounts expended by the Borrower and its consolidated
subsidiaries that would otherwise qualify as Capital Expenditures for which Borrower
or its consolidated subsidiary is paid or reimbursed in cash within 90 days from the
date of such expenditure by the Borrower or such consolidated subsidiary by a
Governmental Authority to the extent the payment or reimbursement was made by the
Governmental Authority to the Borrower or its consolidated subsidiary for the
purpose of allowing the Borrower or its consolidated subsidiary to make expenditures
that would otherwise qualify as Capital Expenditures.”

““Incremental Loan Amount” shall mean, at any time, the excess, if any, of (a)
$40,000,000 over (b) the aggregate amount of all Incremental Loan Commitments
established prior to such time pursuant to Section 2.21 (but excluding the
Incremental Loan Commitments established in connection with the First Amendment and
Consent and the Second Amendment and Consent).”

““Payment Premium” shall mean at any time with respect to any Loan being
prepaid in whole or in part pursuant to Section 2.09 during any of the
periods set forth below an amount equal to the percentage set forth opposite such
period of the aggregate principal amount of such Loan being prepaid at such time:

	 	 	 	 	 
	Period	 	Percentage	 
	 
	 	 	 	 
	May 1, 2011 to and including November 25, 2011
	 	 	8.00	%
	 
	 	 	 	 
	November 26, 2011 to and including November 25, 2012
	 	 	4.00	%
	 
	 	 	 	 
	November 26, 2012 to and including November 25, 2013
	 	 	3.00	%
	 
	 	 	 	 
	November 26, 2013 and thereafter
	 	 	1.00	%

 

2

 

Notwithstanding the foregoing, no Payment Premium shall apply to the November 2010
Prepayment or the Specified 2011 Distribution Prepayment.”

““Required Lenders” shall mean, at any time, Lenders having Loans representing
more than 65% of the sum of all Loans outstanding.”

(b) Amendment of Section 1.01 of Credit Agreement. Section 1.01 of the Credit
Agreement is hereby amended by inserting in appropriate alphabetical order the following new
definitions:

““DOE Loan Guarantee” shall mean a loan guarantee issued by the U.S. Department
of Energy with respect to the Rialto Project.”

““FY 2010 ECF Prepayment Carryover Reduction Amount” shall mean the lesser of
(a) the amount (expressed as a positive number) of the negative difference, if any,
resulting from the calculation of the Excess Cash Flow prepayment for the fiscal
year of the Borrower ending on September 30, 2010 in accordance with Section
2.09(b), and (b) $11,000,000.”

““November 2010 Prepayment” shall have the meaning given to such term in
Section 4 of the Second Amendment and Consent.”

““Second Amendment and Consent” shall mean the Second Amendment to Credit
Agreement, Waiver and Collateral Agent Consent, dated as of November 24, 2010, among
Holdings, the Borrower, the Subsidiary Guarantors, the Lenders party thereto, and
the Collateral Agent.”

““Second Incremental Loan Assumption Agreement” shall mean the Second
Incremental Loan Assumption Agreement, dated as of November 24, 2010, among
Holdings, the Borrower, the Subsidiary Guarantors, the Incremental Lenders party
thereto, and the Administrative Agent.”

““Specified 2011 Distribution” shall have the meaning given to such term in
Section 6.06(a)(ix).”

““Specified 2011 Distribution Prepayment” shall have the meaning given to such
term in Section 6.06(a)(ix).”

(c) Amendment of Section 2.09(a) of Credit Agreement. Clause (ii) of the proviso to
Section 2.09(a) of the Credit Agreement is hereby amended by deleting such clause in its entirety
and substituting in lieu thereof the following:

“(ii) no voluntary prepayment of any Loans (other than the July 2010 Prepayment, the
November 2010 Prepayment and the Specified 2011 Distribution Prepayment) shall be
permitted prior to November 26, 2011, except in the event the Rialto Project
receives a conditional commitment for a DOE Loan Guarantee and Holdings and its
Affiliates, as applicable, confirm in writing to the Administrative Agent and the
Lenders their intention to satisfy the conditions for issuance of the DOE Loan
Guarantee, in which case the Borrower may on or after May 1, 2011 and prior to
November 26, 2011 voluntarily prepay all (but not less than all) outstanding Loans
within 10 Business Days following delivery of such written confirmation to the
Administrative Agent and the Lenders.”

 

3

 

(d) Amendment of Section 2.10(b) of Credit Agreement. Section 2.10(b) of the Credit
Agreement is hereby amended by deleting such clause in its entirety and substituting the following
new clause in lieu thereof:

“(b) No later than four Business days after the earlier of (i) 90 days after the
end of each fiscal year of the Borrower, commencing with the fiscal year ending on
September 30, 2010, and (ii) two Business Days after the date on which the financial
statements with respect to such period are delivered pursuant to Section
5.04(b), the Borrower shall prepay outstanding Loans in accordance with
Section 2.10(f) in an aggregate principal amount equal to the positive
difference of (x) the Applicable ECF Percentage of Excess Cash Flow for the fiscal
year then ended minus (y) the sum of (i) the principal amount of voluntary
prepayments of Loans under Section 2.09, (ii) any Payment Premiums paid with
respect to such voluntary prepayments only to the extent not previously deducted in
the calculation of Consolidated EBITDA for such fiscal year or in the determination
of Excess Cash Flow for such fiscal year, in each case paid during such fiscal year
but only to the extent that such prepayments are not financed with the proceeds of
Indebtedness, equity issuances, casualty proceeds, condemnation proceeds or
insurance proceeds, (iii) solely with respect to the prepayment for the fiscal year
ending on September 30, 2010, the amount of the November 2010 Prepayment, and (iv)
solely with respect to the prepayment for the fiscal year ending on September 30,
2011, the sum of (1) FY 2010 ECF Prepayment Carryover Reduction Amount and (2) the
amount of the Specified 2011 Distribution. Notwithstanding the foregoing, the
November 2010 Prepayment shall not be included in clause (y)(i) above for purposes
of determining the amount of the prepayment required in accordance with this Section
2.10(b) for the fiscal year ending on September 30, 2011.”

(e) Amendment of Section 2.21 of Credit Agreement. Section 2.21(e) of the Credit
Agreement is hereby amended by deleting such clause in its entirety and substituting the following
new clause in lieu thereof:

“(e) Notwithstanding anything to the contrary in this Agreement or otherwise,
(i) no Incremental Loan may be made without the prior written consent of the
Required Lenders, and (ii) the Borrower shall deliver a written notice to the
Administrative Agent and the Lenders at least 30 days prior to the Incremental Loan
Closing Date for any issuance of Incremental Loans (whether Loans or Other Loans);
provided that no such consent and notice shall be required under this Section
2.21(e) with respect to the Other Loans to be made pursuant to the First
Incremental Loan Assumption Agreement or the Second Incremental Loan Assumption
Agreement.”

(f) Amendment of Section 5.04 of Credit Agreement. Section 5.04 of the Credit
Agreement is hereby amended by inserting the following new Section 5.04(o) at the end thereof:

“(o) concurrently with the delivery of the financial statements under paragraph (a)
above for the fiscal year ended September 30, 2010, financial statements required by
Sections 5.04(d) and 5.04(e) for the applicable periods prior to the date of the
Second Amendment and Consent reflecting the treatment of the Holdings Loan as equity
rather than debt and inclusion of tax obligations for the Borrower (without
adjustment for net operating losses of Holdings), all certified by one of its
Financial Officers as fairly presenting the financial condition and results of
operations of the Borrower and its
consolidated subsidiaries on a consolidated basis in accordance with GAAP
consistently applied, subject to normal year-end audit adjustments.”

 

4

 

(g) Amendment of Section 5.14 of Credit Agreement. Section 5.14 of the Credit
Agreement is hereby amended by deleting such clause in its entirety and substituting in lieu
thereof the following:

“SECTION 5.14. Cash Management. In supplement to Section 4.04(b) in
the Guarantee and Collateral Agreement, without the prior written consent of the
Collateral Agent, the Borrower may not, and will not cause or permit any Loan Party
to, (i) add or replace a depositary bank or Deposit Account (as such term is defined
in the Guarantee and Collateral Agreement), (ii) allow any deposit account or any
“zero balance checking” accounts, other than Deposit Accounts subject to Deposit
Account Control Agreements and accounts that are maintained solely for employee flex
spending amounts and payroll
amounts, to maintain a balance in excess of zero Dollars for a period in excess of
one Business Day or (iii) change any sweep instructions existing as of the Closing
Date for any bank account, including any Deposit Account, except in each case, a
Deposit Account that is subject to a Lien permitted by Section 6.02(m).
Upon the written request of the Borrower and at the sole cost and expense of the
Borrower, Lenders hereby authorize and instruct the Collateral Agent to, and the
Collateral Agent shall, release promptly any security interest held by it in any
Deposit Account or securities account that is subject to a Lien permitted by
Section 6.02(m). Any such release shall be without recourse to, or
representation or warranty by, the Collateral Agent or any other Secured Party.”

(h) Amendment of Section 6.01 of Credit Agreement. Section 6.01 of the Credit
Agreement is hereby amended by:

(i) deleting Section 6.01(d) in its entirety and substituting in lieu thereof the
following:

“(d) Indebtedness incurred to finance the acquisition, construction or improvement of

any fixed or capital assets, and extensions, renewals and replacements of any such
Indebtedness that do not increase the outstanding principal amount thereof; provided
that (i) such Indebtedness is incurred prior to or within 90 days after such
acquisition or the completion of such construction or improvement, and (ii) the
aggregate principal amount of Indebtedness permitted by this Section
6.01(d), when combined with the aggregate principal amount of all Capital Lease
Obligations incurred pursuant to Section 6.01(e), shall not exceed
$2,000,000 at any time outstanding;”

(ii) deleting Section 6.01(e) in its entirety and substituting in lieu thereof the
following:

“(e) Capital Lease Obligations in an aggregate principal amount, when combined with
the aggregate principal amount of all Indebtedness incurred pursuant to Section
6.01(d), not in excess of $2,000,000 at any time outstanding;” and

(iii) inserting the following new Section 6.01(p) at the end thereof:

“(p) Indebtedness in respect of letters of credit issued to third parties not
Affiliated with Holdings in an aggregate principal amount not exceeding $2,000,000
at any time outstanding less any amounts secured by Liens permitted by Section
6.02(m).”

 

5

 

(i) Amendment of Section 6.02 of Credit Agreement. Section 6.02 of the Credit
Agreement is hereby amended by inserting the following new Section 6.02(m) immediately
following Section 6.02(l):

“(m) in lieu of issuing letters of credit under Section 6.01(p), Liens on
cash and Permitted Investments (and any dedicated Deposit Account and securities
account in which only such cash and Permitted Investments are held) to secure,
directly or indirectly, obligations to third parties not Affiliated with Holdings in
an aggregate principal amount not to exceed $2,000,000 at any time outstanding less
any Indebtedness incurred under, and permitted by, Section 6.01(p).”

(j) Amendment of Section 6.06 of Credit Agreement. Section 6.06 of the Credit
Agreement is hereby amended by inserting the following new Sections 6.06(a)(viii) and (ix) after
Section 6.06(a)(vii):

“(viii) Holdings may make Restricted Payments with common stock of Holdings and
Qualified Capital Stock of Holdings; and

(ix) the Borrower may make a one-time cash dividend or loan to Rentech Development
Corporation, a Colorado corporation, for further distribution to Holdings in an
amount not to exceed $5,000,000 during the period from February 1, 2011 to June 30,
2011 (the “Specified 2011 Distribution”), so long as:

(1) no Event of Default or Default shall have occurred and be continuing or would
result therefrom, and the representations and warranties set forth in Article III of
the Credit Agreement and in each other Loan Document shall be true and correct in
all material respects on and as of the date of the proposed Specified 2011
Distribution, except to the extent such representations and warranties expressly
relate to an earlier date (in which case such representations and warranties shall
be true and correct in all material respects as of such earlier date),

(2) the Total Debt of Borrower and its consolidated subsidiaries, less Unrestricted
Cash and Permitted Investments of Borrower and its consolidated subsidiaries, as of
the month ended immediately prior to the proposed date of the Specified 2011
Distribution for which financial statements are available, shall not be greater than
$60,000,000,

(3) projected Consolidated EBITDA for the period of four consecutive fiscal quarters
ending on September 30, 2011 shall be equal to or greater than the amount disclosed
in the November 1 Projections (as defined below), which projected amount (including
the assumptions on which such projected amount is based) shall be (A) calculated in
good faith and in a manner consistent with past practice, (B) utilize the most
current estimates of future sale prices and natural gas prices from Blue, Johnson &
Associates, Inc. and, with respect to any product pre-sale contracts, the actual
prices for such contracts, and (C) contain the same level of detail as the model
received by the Lenders on November 1, 2010 (the “November 1 Projections”),

(4) the Borrower shall be in pro forma compliance with each of Sections
6.10, 6.11, 6.12 and 6.16 for (x) the most recently
ended fiscal quarter for which financial statements are available and (y) on a
projected basis for each fiscal quarter through September 30, 2011,
which projections (including the assumptions on which such projections are based)
shall satisfy the requirements specified in clauses 3(A), 3(B) and 3(C) above,

 

6

 

(5) the Borrower shall have delivered to the Administrative Agent and each Lender,
projected financial statements (including projected Consolidated EBITDA) for the
period of four consecutive fiscal quarters ending on September 30, 2012, which
projected financial statements (including the assumptions on which such projected
financial statements are based) shall satisfy the requirements specified in clauses
3(A), 3(B) and 3(C) above and, when compared to the financial condition of the
Borrower reflected in the November 1 Projections, the financial condition of the
Borrower as a whole is not materially worse, as determined in the reasonable
discretion of the Lenders party to the Second Incremental Loan Assumption Agreement
(such determination not to be unreasonably delayed),

(6) prior to or concurrently with the making of such proposed dividend or loan, the
Borrower shall have made a voluntary prepayment pursuant to Section 2.09 in
a principal amount equal to the amount of the Specified 2011 Distribution (such
prepayment being the “Specified 2011 Distribution Prepayment”),

(7) not less than five Business Days prior to the making of the Specified 2011
Distribution, the Administrative Agent and each Lender shall have received a
certificate from a Financial Officer of the Borrower, in form and substance
satisfactory to each of the Lenders party to the Second Incremental Loan Assumption
Agreement, stating that all of the conditions specified in this clause (ix) have
been or will be concurrently satisfied upon the making of the Specified 2011
Distribution, which certificate shall be accompanied by reasonably detailed
calculations of the items specified in clauses (3) and (4) above, and

(8) the Borrower shall have received a written acknowledgement from each of the
Lenders party to the Second Incremental Loan Assumption Agreement (such
acknowledgment not to be unreasonably withheld or delayed) that all conditions
specified in this clause (ix) have been or will be met to the reasonable
satisfaction of such Lenders.”

(k) Amendment of Section 6.10 of Credit Agreement. Section 6.10 of the Credit
Agreement is hereby amended by deleting such section in its entirety and substituting the following
new Section 6.10 in lieu thereof:

“SECTION 6.10. Capital Expenditures. Permit the aggregate amount of Capital
Expenditures made by the Borrower and its subsidiaries for the period set forth
below to exceed the amount set forth in the table below opposite such period:

	 	 	 	 	 
	 	 	Maximum Capital	 
	Measurement Period	 	Expenditures	 
	 
	 	 	 	 
	January 1, 2010 through September 30, 2010
	 	$6.0 million
	October 1, 2010 through September 30, 2012
	 	$33.0 million
	October 1, 2012 through September 30, 2013
	 	$6.0 million
	October 1, 2013 through Maturity Date
	 	$8.0 million

 

7

 

; provided, however, (i) in no event shall (x) the aggregate amount of Capital
Expenditures made by the Borrower and its subsidiaries for the period from October
1, 2010 through September 30, 2011 exceed $27.0 million, or (y) the Carry-Over
Amount (as defined below) applied to the measurement period from October 1, 2012
through September 30, 2013 exceed $9.0 million and (ii) in the event the Borrower
does not expend the maximum Capital Expenditures amount set forth in the table above
in any applicable measurement period, the Borrower may carry forward to the
immediately succeeding applicable measurement period the unutilized portion (the
“Carry-Over Amount”); provided, further, however, that for the avoidance of
doubt, any Investments made by the Borrower and its subsidiaries in reliance on
Section 6.04(k) in any measurement period set forth above shall be deemed to reduce
dollar-for-dollar the amount of the maximum Capital Expenditures permitted to be
expended under this Section 6.10 for such measurement period by the amount of such
Investments without duplication of any amount included in clause (b) of the
definition of Capital Expenditures. All Capital Expenditures shall first be applied
to reduce the then applicable maximum Capital Expenditures amount and then to reduce
the carry-forward from the previous applicable measurement period, if any.”

(l) Amendment of Section 6.11 of Credit Agreement. Section 6.11 of the Credit
Agreement is hereby amended by deleting such section in its entirety and substituting the following
new Section 6.11 in lieu thereof:

“SECTION 6.11 Interest Coverage Ratio. Permit the Interest Coverage Ratio of the
Borrower and its subsidiaries for any period of four consecutive fiscal quarters, in
each case taken as one accounting period, as of the last day of any fiscal quarter
ending on the date set forth below to be less than the ratio set forth opposite such
date below:

	 	 	 	 	 
	Date	 	Ratio	 
	 
	 	 	 	 
	March 31, 2010
	 	 	3.15 to 1.00	 
	June 30, 2010
	 	 	3.15 to 1.00	 
	September 30, 2010
	 	 	2.60 to 1.00	 
	December 31, 2010
	 	 	3.10 to 1.00	 
	March 31, 2011
	 	 	3.10 to 1.00	 
	June 30, 2011
	 	 	4.00 to 1.00	 
	September 30, 2011
	 	 	4.10 to 1.00	 
	December 31, 2011
	 	 	4.20 to 1.00	 
	March 31, 2012
	 	 	4.20 to 1.00	 
	June 30, 2012
	 	 	4.20 to 1.00	 
	September 30, 2012
	 	 	4.40 to 1.00	 
	December 31, 2012
	 	 	4.90 to 1.00	 
	March 31, 2013
	 	 	5.70 to 1.00	 
	June 30, 2013
	 	 	6.00 to 1.00	 
	September 30, 2013
	 	 	6.00 to 1.00	 
	December 31, 2013
	 	 	6.00 to 1.00	 
	March 31, 2014
	 	 	6.00 to 1.00	 
	June 30, 2014
	 	 	6.00 to 1.00	”

 

8

 

(m) Amendment of Section 6.12 of Credit Agreement. Section 6.12 of the Credit
Agreement is hereby amended by deleting such section in its entirety and substituting the following
new Section 6.12 in lieu thereof:

“SECTION 6.12 Maximum Leverage Ratio. Permit the Leverage Ratio of the Borrower and
its subsidiaries as of the last day of the period of four consecutive fiscal
quarters ending on the date set forth below to be greater than the ratio set forth
opposite such date below:

	 	 	 	 	 
	Date	 	Ratio	 
	 
	 	 	 	 
	March 31, 2010
	 	 	2.45 to 1.00	 
	June 30, 2010
	 	 	2.45 to 1.00	 
	September 30, 2010
	 	 	2.90 to 1.00	 
	December 31, 2010
	 	 	2.50 to 1.00	 
	March 31, 2011
	 	 	2.30 to 1.00	 
	June 30, 2011
	 	 	1.90 to 1.00	 
	September 30, 2011
	 	 	1.80 to 1.00	 
	December 31, 2011
	 	 	1.80 to 1.00	 
	March 31, 2012
	 	 	1.70 to 1.00	 
	June 30, 2012
	 	 	1.60 to 1.00	 
	September 30, 2012
	 	 	1.50 to 1.00	 
	December 31, 2012
	 	 	1.00 to 1.00	 
	March 31, 2013
	 	 	1.00 to 1.00	 
	June 30, 2013
	 	 	1.00 to 1.00	 
	September 30, 2013
	 	 	1.00 to 1.00	 
	December 31, 2013
	 	 	1.00 to 1.00	 
	March 31, 2014
	 	 	1.00 to 1.00	 
	June 30, 2014
	 	 	1.00 to 1.00	”

(n) Amendment of Section 9.20 of Credit Agreement. Section 9.20 of the Credit
Agreement is hereby amended by inserting at the end thereof the following new sentence:

“EACH OTHER LOAN MADE BY AN INCREMENTAL LENDER HEREUNDER ON THE INCREMENTAL LOAN
CLOSING DATE PURSUANT TO, AND AS DEFINED IN, THE SECOND INCREMENTAL LOAN ASSUMPTION
AGREEMENT WAS SUBJECT TO AN ORIGINAL ISSUE DISCOUNT SUCH THAT SUCH OTHER LOAN
RESULTED IN AGGREGATE PROCEEDS TO THE BORROWER IN AN AMOUNT EQUAL TO 98.0% OF SUCH
INCREMENTAL LENDER’S INCREMENTAL LOAN COMMITMENT (AS SET FORTH IN THE SECOND
INCREMENTAL LOAN ASSUMPTION AGREEMENT).”

Section 2. Release of Collateral. The Collateral Agent (with the approval of the
Lenders) hereby agrees, upon the effective date of this Agreement, to execute and deliver a Partial
Release of Mortgage, in form and substance reasonably satisfactory to the Collateral Agent, and
thereby release the lien of the Borrower Mortgage on that portion of the Mortgaged Property
referred to as the “Hilby Property”, as more particularly described on Schedule 1 to this
Agreement; provided that, upon the disposition by the Borrower of such portion of the
Mortgaged Property, the proceeds thereof shall
constitute Collateral. Such lien release shall be without recourse to, or representation or
warranty by, the Collateral Agent or any other Secured Party.

 

9

 

Section 3. Waivers of Credit Agreement.

(a) Waivers of Section 2.09 of Credit Agreement. Solely with respect to the Other
Loans to be made pursuant to the Second Incremental Loan Assumption Agreement, the Lenders hereby
waive compliance with the requirements contained in Sections 2.09(a) and 2.09(c) of the Credit
Agreement that Borrower deliver a notice of prepayment with respect to the November 2010 Prepayment
(as defined below).

(b) Waiver of Section 2.21(a) of Credit Agreement. Solely with respect to the Other
Loans to be made pursuant to the Second Incremental Loan Assumption Agreement, the Lenders hereby
waive compliance with the requirements of Section 2.21(a) of the Credit Agreement; provided
that the information otherwise required to be delivered pursuant to such Section 2.21(a) is set
forth in the Second Incremental Loan Assumption Agreement.

(c) Waiver of Section 2.21(b) of Credit Agreement. Solely with respect to the Other
Loans to be made pursuant to the Second Incremental Loan Assumption Agreement, the Lenders hereby
waive compliance with the requirements of clause (iii) of the fourth sentence of Section 2.21(b) of
the Credit Agreement.

(d) Waivers of Section 2.21(c) of Credit Agreement. Solely with respect to the Other
Loans to be made pursuant to the Second Incremental Loan Assumption Agreement, the Lenders hereby
waive compliance with the requirements of clauses (v) and (vi) of Section 2.21(c) of the Credit
Agreement.

(e) Waivers of Section 5.04 of Credit Agreement. Solely with respect to (i) the
treatment of the Holdings Loan as debt rather than equity and (ii) the calculation of the
Borrower’s tax obligations adjusted for net operating losses of Holdings for purposes of the
financial statements of the Borrower and its consolidated subsidiaries delivered under Section
5.04(d) and Section 5.04(e) of the Credit Agreement for the periods prior to the date
of this Agreement, the Lenders hereby waive compliance with the requirements of Section
5.04(d) and Section 5.04(e) of the Credit Agreement.

Section 4. Conditions Precedent. This Agreement shall become effective upon
satisfaction of each of the following conditions precedent; provided that Sections
5, 10 and 13 hereof shall be effective upon the execution and delivery of this
Agreement by the parties hereto:

(a) The Collateral Agent shall have received a copy of this Agreement duly executed and
delivered by each of the Collateral Agent, Borrower, Holdings, the Subsidiary Guarantors and the
Required Lenders.

(b) The Administrative Agent shall have received a copy of the Second Incremental Loan
Assumption Agreement, dated as of the date of this Agreement, among Holdings, Borrower, the
Subsidiary Guarantors, the Administrative Agent and the Incremental Lenders party thereto (the
“Second Incremental Loan Assumption Agreement”), duly executed and delivered by each of the
parties thereto and, concurrently with the effectiveness of this Agreement, the Second Incremental
Loan Assumption Agreement shall be in full force and effect.

 

10

 

(c) Each of (i) the conditions set forth in Section 3 of Annex I to the Second Incremental
Loan Assumption Agreement, and (ii) after giving effect to the waivers contained in Section
3 above, the requirements of Section 2.21 of the Credit Agreement required to be satisfied by
the Loan Parties, in each case shall have been satisfied.

(d) The representations and warranties contained herein shall be true and correct in all
respects as of the date hereof.

(e) No Default or Event of Default shall have occurred and be continuing as of the date
hereof.

(f) Borrower shall have made a voluntary prepayment of Loans under Section 2.09 of the Credit
Agreement in an aggregate principal amount of $20,000,000 (the “November 2010 Prepayment”),
together with accrued and unpaid interest on the principal amount of the Loans paid to but
excluding the date of such payment.

Section 5. Borrower Direction. Pursuant to Section 2.09(b) of the Credit Agreement,
Borrower hereby irrevocably directs that the November 2010 Prepayment shall be applied (and the
November 2010 Prepayment shall, in fact, be applied) prior to the effectiveness of this Agreement
pro rata between the Loans against the remaining scheduled installments of principal due in respect
of the Loans under, and in compliance with, Section 2.08(a)(i) of the Credit Agreement.

Section 6. Conditions Subsequent. On the Incremental Loan Closing Date (as defined in
the Second Incremental Loan Assumption Agreement), Borrower shall borrow the Other Loans in
accordance with the Incremental Loan Commitment Request (as defined in the Second Incremental Loan
Assumption Agreement). Failure to comply with this Section 6 shall constitute an Event of
Default.

Section 7. Representations and Warranties. Each of Holdings and Borrower hereby
represents and warrants, jointly and severally, to the Collateral Agent and the Lenders that, as of
the date hereof, (a) all representations and warranties set forth in the Credit Agreement and in
each other Loan Document are true and correct in all material respects as if made again on and as
of the date hereof (except those, if any, which by their terms expressly relate to an earlier date,
in which case such representations and warranties shall have been true and correct in all material
respects as of such earlier date), (b) after giving effect to the waivers contained in Section
3 above. no Default or Event of Default has occurred and is continuing, and (c) the Credit
Agreement and all other Loan Documents are and remain legal, valid, binding and enforceable
obligations of the Loan Parties in accordance with the terms thereof except as may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting
creditors’ rights generally or by equitable principles (regardless of whether enforcement is sought
in equity or at law).

Section 8. Survival of Representations and Warranties. All representations and
warranties made in this Agreement or in any other Loan Document shall survive the execution and
delivery of this Agreement, and no investigation by the Collateral Agent, any Lender or any other
Person shall affect such representations or warranties, or the right of the Collateral Agent and
the Secured Parties to rely upon them.

Section 9. Reference to Agreement. Each of the Loan Documents, including the Credit
Agreement, and any and all other agreements, documents or instruments now or hereafter executed
and/or delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement as
amended hereby, are hereby amended so that any reference in such Loan Documents to the Credit
Agreement,
whether direct or indirect, shall mean a reference to the Credit Agreement as amended hereby.
This Agreement shall constitute a Loan Document under the Credit Agreement.

 

11

 

Section 10. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT
WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

Section 11. Execution. This Agreement may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one and the same
agreement. Delivery of an executed counterpart of a signature page to this Agreement by telecopier
or electronic transmission shall be effective as delivery of a manually executed counterpart of
this Agreement.

Section 12. Limited Effect. This Agreement relates only to the specific matters
expressly covered herein, shall not be considered to be a waiver of any rights or remedies any
Agent or Lender may have under the Credit Agreement or under any other Loan Document, and shall not
be considered to create a course of dealing or to otherwise obligate in any respect any Agent or
Lender to execute similar or other amendments or consents under the same or similar or other
circumstances in the future.

Section 13. Payment of Legal Fees. Borrower and Holdings shall, jointly and
severally, pay all invoiced fees, charges and disbursements of Proskauer Rose LLP incurred in
connection with the preparation, negotiation, execution and delivery of this Agreement, and the
consummation of the transactions contemplated hereby.

Section 14. Waiver of Defenses. Without limiting the generality of any other
provision in any other Loan Document or otherwise, each of Borrower and Holdings hereby waives any
suretyship or other defenses that may arise as a result of the joint and several liability of
Borrower and Holdings under this Agreement, and Section 2.03 of the Guarantee and Collateral
Agreement is hereby incorporated herein by this reference, mutatis mutandis.

Section 15. Ratification by Guarantors. Each Guarantor hereby acknowledges and agrees
that (i) its consent to this Agreement is not required (except, in the case of Holdings, with
respect to Section 1 only), but each Guarantor nevertheless hereby agrees and consents to
this Agreement and to the documents and agreements referred to herein, (ii) notwithstanding the
effectiveness of this Agreement, such Guarantor’s Guarantee shall remain in full force and effect
without modification thereto, (iii) nothing herein shall in any way limit any of the terms or
provisions of any Guarantor’s Guarantee or any other Loan Document executed by any Guarantor (as
the same may be amended, amended and restated, supplemented or otherwise modified from time to
time), all of which are hereby ratified, confirmed and affirmed in all respects, (iv) no other
agreement, instrument, consent or document shall be required to give effect to this Section
15, and (v) the Borrower, Holdings, the Agents and any Lender may from time to time enter into
any further amendments, modifications, terminations and/or waivers of any provisions of the Loan
Documents without notice to or consent from any Guarantor (other than, to the extent expressly
required under Section 9.08 of the Credit Agreement, Holdings) and without affecting the validity
or enforceability of any Guarantor’s Guarantee or Collateral or giving rise to any reduction,
limitation, impairment, discharge or termination of any Guarantor’s Guarantee or Collateral.

[signature pages follow]

 

12

 

IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to Credit Agreement,
Waiver and Collateral Agent Consent to be executed by their respective duly authorized officers, as
of the date first above written.

	 	 	 	 	 	 	 
	 	 	RENTECH ENERGY MIDWEST CORPORATION,

as Borrower
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Dan J. Cohrs 
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Dan J. Cohrs
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Vice President and Treasurer
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	RENTECH, INC.,

as Holdings and as Guarantor
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Dan J. Cohrs
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Dan J. Cohrs
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Chief Financial Officer, Executive Vice President 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	& Treasurer
	 

	 	 	 	 	 	 

[Signature Page to Second Amendment to Credit Agreement, Waiver and Collateral Agent Consent]

 

 

 

	 	 	 	 	 	 	 
	 	 	RENTECH, INC

RENTECH SILVAGAS LLC

RENTECH DEVELOPMENT CORPORATION

RENTECH SERVICES CORPORATION

SILVAGAS CORPORATION

RENTECH ENERGY TECHNOLOGY CENTER, LLC,

each as a Guarantor
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Dan J. Cohrs
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Dan J. Cohrs
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Chief Financial Officer, Executive Vice President 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	& Treasurer
	 

	 	 	 	 	 	 

[Signature Page to Second Amendment to Credit Agreement, Waiver and Collateral Agent Consent]

 

 

 

	 	 	 	 	 	 	 
	 	 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,

as Collateral Agent
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Mikhail Faybusovich
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Mikhail Faybusovich
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Vice President
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Vipul Dhadda
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Vipul Dhadda
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Associate
	 

	 	 	 	 	 	 

[Signature Page to Second Amendment to Credit Agreement, Waiver and Collateral Agent Consent]

 

 

 

	 	 	 	 	 	 	 
	 	 	SPECIAL SITUATIONS INVESTING GROUP, INC.,

    as Lender
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Robert G. Frahm III
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Robert G. Frahm III
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Authorized Signatory
	 

	 	 	 	 	 	 

[Signature Pages to Amendment to Credit Agreement and Collateral Agent Consent]

 

 

 

	 	 	 	 	 	 	 
	 	 	HPS SENIOR LOAN FUND II L.P.,
as Lender
	 
	 	 	 	 	 	 
	 	 	By:	 	HIGHBRIDGE PRINCIPAL STRATEGIES, LLC,
its Investment Manager
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Kevin Griffin
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Kevin Griffin
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Managing Director
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	HIGHBRIDGE SENIOR LOAN HOLDINGS L.P., 

    as Lender
	 
	 	 	 	 	 	 
	 	 	By:	 	HIGHBRIDGE PRINCIPAL STRATEGIES, LLC,
its Investment Manager
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Kevin Griffin
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Kevin Griffin
	 

	 	 	 	 	 	 
	 

	 	 	 	Title:
	 	Managing Director
	 

	 	 	 	 	 	 

[Signature Page to Second Amendment to Credit Agreement, Waiver and Collateral Agent Consent]

 

 

 

Schedule 1

Hilby Property Legal Description

PARCEL 1 (1.50 ACRES):

The West 100 feet of the North Half of the North Half of the Northeast Quarter of
Section Number Twelve (12), Township Twenty-eight (28) North, Range Two (2) West
of the Fourth Principal Meridian, Township of Menominee, Jo Daviess County, Illinois;
containing 1.50 acres more or less.

PARCEL 2 (0.23 ACRES):

The South 100 feet of the West 100 feet of the South half of the Southeast Quarter of
Section 1, Township 28 North, Range 2 West of the Fourth Principal Meridian,
Menominee Township, Jo Daviess County, Illinois; containing 0.23 acres more or less.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00181-of-00352.parquet"}]]