Document:

Exhibit 4.1

 

AMENDMENT NO. 5

TO

POST-PETITION LOAN AND SECURITY AGREEMENT

 

This
AMENDMENT NO. 5 TO POST-PETITION LOAN AND SECURITY AGREEMENT (this “Amendment”) is dated as of
July 28, 2006, among the Lenders, BANK OF AMERICA, N.A., as agent for the
Lenders (the “Agent”), W. R. GRACE & CO.
(the “Company”) and the Subsidiaries of W. R. Grace &
Co. parties hereto (collectively, the “Borrowers”).

 

WHEREAS, the parties hereto are parties to a Post-Petition Loan and
Security Agreement dated as of April 1, 2001 (as previously
amended, the “Loan Agreement”); and

 

WHEREAS, the parties hereto desire to amend the Loan Agreement as
herein set forth:

 

NOW, THEREFORE, for and in consideration of the mutual covenants set
forth herein and in the Loan Agreement, and for other valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

 

1.                                                     Amendments.  Annex A to the Loan Agreement is hereby
amended by amending and restating in its entirety
the following definition:

 

“Adjusted Core EBITDA”  means the sum, without duplication, of (a) net
sales from Core Operations, minus (b) Total
Core Costs, plus (c) interest and royalties
received in cash, plus (d) depreciation
and amortization relating to the Core Operations, plus (e) up to
$20,000,000 of dividends received, in the aggregate, by  any of the
Borrowers from any Subsidiary which is not organized under the laws of the
United States of America or a political subdivision thereof and received after July 28
, 2006 and prior to the Termination Date.

 

2.                                                     Representations
and Warranties of Each Borrower.  Each Borrower represents and warrants that the
execution, delivery and performance by each Borrower of this Amendment has been
duly authorized by all necessary corporate action required on its part and this
Amendment is a legal, valid and binding obligation of each Borrower enforceable
against each Borrower in accordance with its terms except as the enforcement
thereof may be subject to (i) the effect of any applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’ rights  generally
and (ii) general principles of equity (regardless of whether enforcement is
sought in a proceeding in equity or at law).

 

3.                                                     Conditions.  This Amendment shall be effective upon
satisfaction of the following conditions precedent:

 

(i)            This Amendment shall
have been executed and delivered by each party hereto; and

 

(ii)           The Agent shall have received a certificate from the chief
financial officer of the Company certifying that (i) immediately before and
after giving

 

 

effect to this Amendment, all representations and
warranties made hereunder, in the Loan Agreement and in the other Loan
Documents shall be true and correct as if made on the date hereof, (ii) the
Borrowers have performed and complied with all covenants, agreements and
conditions contained herein which are required to be performed or complied with
by the Borrowers on or before the date hereof and (iii) no Default or
Event of Default shall have occurred and be continuing after giving effect to
this Amendment.

 

4.                                       Reference to
and Effect Upon the Loan Agreement.

 

(a)           Except as specifically amended above, the Loan Agreement
and the other Loan Documents shall remain in full force and effect and are
hereby ratified and confirmed.

 

(b)           Upon the effectiveness of this Amendment, each reference
in the Loan Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or
words of similar import shall mean and be a reference to the Loan Agreement as
amended hereby.

 

5.                                       Defined Terms.  Except as otherwise defined herein, all
defined terms herein shall have the meanings ascribed thereto in the Loan
Agreement.

 

6.                                       Governing Law.  THIS AMENDMENT SHALL BE INTERPRETED AND THE RIGHTS
AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE
INTERNAL LAWS (PROVIDED THAT PERFECTION ISSUES WITH RESPECT TO ARTICLE 9 OF THE
UCC MAY GIVE EFFECT TO APPLICABLE CHOICE OR CONFLICT OF LAW RULES SET
FORTH IN ARTICLE 9 OF THE UCC) OF THE STATE OF NEW YORK TO THE EXTENT NOT
PREEMPTED BY FEDERAL BANKRUPTCY LAWS; PROVIDED THAT THE AGENT AND THE LENDERS
SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW.

 

7.                                       Headings.  Section headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purposes.

 

8.                                       Severability.  If any provision of this Amendment shall be
prohibited by or invalid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without invalidating
the remainder of such provision or the remaining provisions of this Amendment.

 

2

 

9.                                       Acceptance of
Signatures.  The parties
agree that this Amendment will be considered signed when the signature of a
party is delivered by facsimile or electronic mail transmission. Such facsimile
or electronic mail signature shall be treated in all respects as having the
same effect as an original signature.

 

I0.                                   Counterparts. This
Amendment may be executed in any number of counterparts, each of which when so
executed shall be deemed an original, but all such counterparts shall
constitute one and the same instrument.

 

(Signature Pages Follow)

 

3

 

IN WITNESS WHEREOF, this Amendment has been duly executed as of the
date first written above.

 

	
   

  	
  BANK
  OF AMERICA, N.A.,

  
	
   

  	
  as
  Agent and Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/
  Edmundo Kahn

  
	
   

  	
  Name:

  	
   

  	
  Edmundo
  Kahn

  
	
   

  	
  Title:

  	
   

  	
  Vice-President

  
						

 

 

	
   

  	
  BORROWERS:

  
	
   

  	
   

  
	
   

  	
  W.
  R. Grace & Co.

  
	
   

  	
  A-1
  Bit & Tool Co., Inc.

  
	
   

  	
  Alewife
  Boston Ltd.

  
	
   

  	
  Alewife
  Land Corporation

  
	
   

  	
  Amicon, Inc.

  
	
   

  	
  CB
  Biomedical, Inc.

  
	
   

  	
  CCHP, Inc.

  
	
   

  	
  Coalgrace,
  Inc.

  
	
   

  	
  Coalgrace
  II, Inc.

  
	
   

  	
  Creative
  Food ‘N Fun Company

  
	
   

  	
  Darex
  Puerto Rico, Inc.

  
	
   

  	
  Del
  Taco Restaurants, Inc.

  
	
   

  	
  Ecarg, Inc.

  
	
   

  	
  Five
  Alewife Boston Ltd.

  
	
   

  	
  G
  C  Limited
  Partners I,  Inc.

  
	
   

  	
  G
  C Management, Inc.

  
	
   

  	
  GEC
  Management Corporation

  
	
   

  	
  GN
  Holdings, Inc.

  
	
   

  	
  GPC
  Thomasville Corp.

  
	
   

  	
  Gloucester
  New Communities Company, Inc.

  
	
   

  	
  Grace
  A-B Inc.

  
	
   

  	
  Grace
  A-B II Inc.

  
	
   

  	
  Grace
  Chemical Company of Cuba

  
	
   

  	
  Grace
  Culinary Systems, Inc.

  
	
   

  	
  Grace
  Drilling Company

  
	
   

  	
  Grace
  Energy Corporation

  
	
   

  	
  Grace
  Environmental, Inc.

  
	
   

  	
  Grace
  Europe, Inc.

  
	
   

  	
  Grace
  H-G Inc.

  
	
   

  	
  Grace
  H-G II Inc.

  

 

 

[Signature Page to
Amendment No. 5 to

Post-Petition Loan and Security Agreement]

 

 

	
   

  	
  Grace
  Hotel Services Corporation

  
	
   

  	
  Grace
  International Holdings, Inc.

  
	
   

  	
  Grace
  Offshore Company

  
	
   

  	
  Grace
  PAR Corporation

  
	
   

  	
  Grace
  Petroleum Libya Incorporated

  
	
   

  	
  Grace
  Tarpon Investors, Inc.

  
	
   

  	
  Grace
  Ventures Corp.

  
	
   

  	
  Grace
  Washington, Inc.

  
	
   

  	
  W.
  R. Grace Capital Corporation

  
	
   

  	
  W.
  R. Grace & Co.-Conn.

  
	
   

  	
  W.
  R. Grace Land Corporation

  
	
   

  	
  Gracoal, Inc.

  
	
   

  	
  Gracoal
  II, Inc.

  
	
   

  	
  Guanica-Caribe
  Land Development Corporation

  
	
   

  	
  Hanover
  Square Corporation

  
	
   

  	
  Homco
  International, Inc.

  
	
   

  	
  Kootenai
  Development Company

  
	
   

  	
  L
  B Realty, Inc.

  
	
   

  	
  Litigation
  Management, Inc.

  
	
   

  	
  Monolith
  Enterprises, Incorporated

  
	
   

  	
  Monroe
  Street, Inc.

  
	
   

  	
  MRA
  Holdings Corp.

  
	
   

  	
  MRA
  Intermedco, Inc.

  
	
   

  	
  MRA
  Staffing Systems, Inc.

  
	
   

  	
  Remedium
  Group, Inc.

  
	
   

  	
  Southern
  Oil, Resin & Fiberglass, Inc.

  
	
   

  	
  Water
  Street Corporation, each as a Debtor and a

  
	
   

  	
  Debtor-in-Possession

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  
	
   

  	
  Its
  Duly Authorized Signatory

  

 

 

[Signature Page to
Amendment No. 5 to

Post-Petition Loan and Security Agreement]

 

 

	
   

  	
  CC
  Partners, as a Debtor and Debtor-in-

  	 

	
   

  	
  Possession

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
  MRA
  Staffing Systems, Inc., a General

  	 

	
   

  	
   

  	
  Partner

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  Its:

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  CCHP,
  Inc., a General Partner

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  Its:

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  Axial
  Basin Ranch
  Company, as a Debtor and

  	 

	
   

  	
  Debtor-in-Possession

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  Grace
  A-B II, Inc., a General Partner

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  Its:

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  Grace
  A-B, Inc., a General Partner

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  Its:

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  Hayden-Gulch
  West Coal Company, as a Debtor

  	 

	
   

  	
  and Debtor- in-Possession

  	 

	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Grace
  H-G, Inc., a General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
								

 

 

[Signature Page to
Amendment No. 5 to

Post-Petition Loan and Security Agreement]

 

 

	
   

  	
  By:

  	
  Grace
  H-G II, Inc., a General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  

 

	
   

  	
  H-G Coal Company, as a Debtor and Debtor-in- 

  Possession

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Coalgrace,
  Inc. a General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
					

 

	
   

  	
  By:

  	
  Coalgrace
  II, Inc., a General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  

 

	
   

  	
  Dewey and Almy, LLC, as a Debtor and Debtor-

  
	
   

  	
  in-Possession

  
	
   

  	
   

  
	
   

  	
  By:

  	
  W.
  R. Grace & Co.-Conn., its sole 

  
	
   

  	
   

  	
  member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
					

 

 

[Signature Page to
Amendment No. 5 to 

Post-Petition Loan and Security Agreement]

 

 

	
   

  	
   

  	
  PNC BANK,  NATIONAL ASSOCIATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/
  Brian Conway

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  
	
   

  	
   

  	
  Address:

  	
  70
  East 55th Street, 14th Floor

  
	
   

  	
   

  	
   

  	
  New
  York, New York 10022

  
	
   

  	
   

  	
   

  	
  Attention:  Brian
  Conway

  
	
   

  	
   

  	
   

  	
  Facsimile:  (212) 303-0060

  
						

 

[Signature Page to Amendment No. 5 to

Post-Petition Loan and Security Agreement]

 

 

	
   

  	
  THE CIT GROUP/BUSINESS
  CREDIT, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
   /s/ Matthew DeFranco

  
	
   

  	
  Title:

  	
  AVP

  
	
   

  	
   

  	
  Address:

  	
  11
  West 42nd Street

  
	
   

  	
   

  	
   

  	
  NY,
  New York 10036

  
	
   

  	
   

  	
  Attention:

  	
  Matthew
  DeFranco

  
	
   

  	
   

  	
  Facsimile:

  	
   (212)
  461-7762

  
					

 

[Signature Page to Amendment No. 5 to

Post-Petition
Loan and Security Agreement]

 

 

	
   

  	
  GE
  COMMERCIAL FINANCE LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/
  Rebecca A. Ford

  
	
   

  	
  Name:

  	
  Rebecca A. Ford

  
	
   

  	
  Title:

  	
  Duly
  Authorized Signatory 

  
	
   

  	
  Address:

  	
  201
  Merritt 7

  
	
   

  	
   

  	
  Norwalk,
  CT 06856

  
						

 

[Signature Page to Amendment No. 5 to

Post-Petition
Loan and Security Agreement]

 

 

	
   

  	
  GMAC COMMERCIAL FINANCE LLC

  
	
   

  	
  (successor by merger to GMAC Commercial

  
	
   

  	
  Credit
  LLC)

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Daniel
  Murray

  
	
   

  	
  Title:

  	
  First Vice President

  
	
   

  	
  Address:

  	
  1290
  Avenue of the Americas

  
	
   

  	
   

  	
  3rd Floor

  
	
   

  	
   

  	
  New York, New York 10104

  
	
   

  	
   

  	
  Attention:  Daniel Murray

  
	
   

  	
   

  	
  Facsimile: (212) 884-7088

  
					

 

[Signature Page to Amendment No. 5 to

Post-Petition Loan and Security Agreement]

 

 

	
   

  	
  AMSOUTH BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Frank
  Marsicano

  
	
   

  	
  Title:

  	
  Attorney in
  Fact

  
	
   

  	
  Address: 

  	
  350 Park
  Avenue

  
	
   

  	
   

  	
  New York,
  New York 10022

  
	
   

  	
   

  	
  Attention: 

  	
  Frank
  Marsicano

  
	
   

  	
   

  	
   

  	
  AmSouth
  Capital Corp.

  
	
   

  	
   

  	
  Facsimile:
  (212) 935-7458

  
						

 

[Signature Page to Amendment No. 5 to

Post-Petition Loan and Security Agreement]Exhibit
4.2

 

AMENDMENT
NO. 6 TO

POST-PETITION
LOAN AND SECURITY AGREEMENT

 

This AMENDMENT NO. 6 TO
POST-PETITION LOAN AND SECURITY AGREEMENT (this “Amendment”) is dated as
of March 31, 2008, among the Lenders, BANK OF AMERICA, N.A., as agent for
the Lenders (the “Agent”), W. R. GRACE & CO. (the “Company”)
and the Subsidiaries of W. R. Grace & Co. parties hereto
(collectively, the “Borrowers”).

 

WHEREAS, the parties
hereto are parties to a Post-Petition Loan and Security Agreement dated as of April 1,
2001 (as previously amended, the “Loan Agreement”); and

 

WHEREAS, the parties
hereto desire to amend the Loan Agreement as herein set forth:

 

NOW, THEREFORE, for and
in consideration of the mutual covenants set forth herein and in the Loan
Agreement, and for other valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:

 

1.                                       Amendments

 

(a)           Immediately following Section 1.2(a)(ii) of
the Loan Agreement, a new Section 1.2(a)(iii), which shall read in its
entirety as follows, is hereby added to the Loan Agreement:

 

“(iii)  The
Borrowers may, pursuant to the delivery of a written request (an “Increase
Request”)from the Borrower Representative to the Agent, make up to five
requests to increase the Commitments (each a “Commitment Increase”),
each such request being for at least $5,000,000, and in an aggregate amount for
all such requests not to exceed the difference of (i) $250,000,000 minus (ii) the
aggregate amount of the Commitments as of the effectiveness of Amendment No. 6.

 

Each Lender which (a) holds
a Revolving Loan on the date the Company delivers a written request to the
Agent for an Commitment Increase and (b) notifies the Agent in writing
within five (5) days of receipt of written notice from the Agent that
Company has requested a Commitment Increase, shall have the right to commit to
its Pro Rata Share, as of the date that the Agent received the applicable
notice, of the Commitment Increase. 
Notwithstanding anything contained herein or otherwise to the contrary,
no Lender shall have any obligation to fund all or any portion of, or
participate in, any Commitment Increase.

 

On a date agreed
to by the Agent and the Borrower Representative, which, unless otherwise agreed
by the Agent, shall be a date which is not less than five (5) Business
Days after the applicable Increase Request was received by the Agent, the
increased or new Commitments shall become effective (an “Increase Effective
Date”), as long as each of the following conditions have been met:

 

 

(A) no
Default or Event of Default has occurred or is continuing or would result after
giving effect to such Commitment Increase; and

 

(B) the
Agent shall have received documents satisfactory to the Agent evidencing the
increase in the Commitments and the Agent shall have received amendments to
this Agreement and the Loan Documents, joinder agreements for any new Lenders,
and all other promissory notes, agreements, documents and instruments
reasonably satisfactory to the Agent in its reasonable discretion evidencing
and setting forth the conditions of the Commitment Increase.

 

On the applicable
Increase Effective Date, the applicable Commitment Increase shall become part
of the Commitments and any related loan shall become part of the Revolving
Loans  with the same maturity, interest,
fees and terms as the then existing Revolving Loans

 

On any Increase
Effective Date, subject to the satisfaction of the foregoing terms and
conditions, (A) each of the existing Lenders shall assign to each Lender
participating in the Commitment Increase (each, an “Incremental Lender”)
and each of the Incremental Lenders shall purchase from each of the existing
Lenders, at the principal amount thereof (together with accrued interest), such
interests in the Revolving Loans on such Increase Effective Date as shall be
necessary in order that, after giving effect to all such assignments and
purchases, such Revolving Loans will be held by existing Lenders and
Incremental Revolving Loan Lenders ratably in accordance with their Commitments
after giving effect to the Commitment Increase, (B) all loans shall be
deemed, for all purposes,  Revolving
Loans and  (C) each Incremental
Lender shall become a Lender with respect to the Commitment and all matters
relating thereto.

 

Each of the Borrowers,
Lenders and Agent acknowledges and agrees that a Commitment Increase (and
related amendments and documents described above) meeting the conditions set
forth herein shall not require the consent of any Lender other than those
Lenders, if any, which have agreed to participate in the Commitment Increase.

 

If any request
made by the Borrowers pursuant to this Section 1.2(a)(iii) does not
lead to a Commitment Increase because the then existing and/or proposed Lenders
are not willing to provide a Commitment Increase at such time, then such
request shall not be deemed a request for the purposes of the five request
limit set forth above”

 

(b)           Section 7.6(ii) of
the Loan Agreement is hereby amended by deleting the phrase “the Closing Date”
where it appears in clause (2) thereof and inserting “March 31, 2008”
in its place.

 

2

 

(c)           Section 7.9 of the Loan
Agreement is hereby by deleting the phrase “the date hereof” where it appears
in clauses (ix) and (x) thereof and inserting “March 31, 2008”
in its place.

 

(d)           Section 7.23 of the Loan
Agreement is hereby amended and restated in its entirety to read in its
entirety as follows:

 

“7.23       Cash Equivalents.  The Borrowers shall at all times maintain
cash, Cash Equivalents (plus, without duplication, the cash value of COLI, net
of all loans with respect thereto and the value of units  in the “Columbia Strategic Cash Portfolio” of Columbia
Qualified Purchaser Funds, LLC (“Columbia Funds”))  which
are owned by the Borrowers free and clear of all Liens and rights of any other
Person (other than the Agent, the Managing Members of Columbia Funds and their
Affiliates, and the COLI insureds and insurers) of not less than $50,000,000 in
the aggregate.”

 

(e)           Section 11.1(a) of
the Loan Agreement is hereby amended by (i) adding, immediately following
the words “any Lender” in Section 11.1 (a)(i) the phrase “(it
being agreed and understood that an increase in a Commitment in connection with
a Commitment Increase shall only require the written consent of the Borrower
Representative, the Agent and each Person which is becoming a Lender or
increasing its then existing Commitment in connection with such Commitment
Increase)” and (ii) adding a new sentence at the end of Section 11.1(a) which
shall read in its entirety as follows:

 

“Notwithstanding anything contained herein or
otherwise to the contrary, any amendment, modification, termination or waiver
of or consent with respect to any provisions of any Loan Document appropriate
(as reasonably determined by the Agent) to evidence or implement a Commitment
Increase shall be effective if the same shall be in writing and signed by the
Agent, each Borrower and each Incremental Lender.”

 

(f)            Section 13.7 of the Loan
Agreement is hereby amended by deleting the amount “$800” which appears therein
and inserting “$850” in its place.

 

(g)           Annex A to the Loan Agreement
is hereby amended by amending and restating in their entirety the following
definitions (or in the case of new definitions, by inserting such definitions
in the applicable alphabetical location in Annex A):

 

“Amendment No. 6”
shall mean that certain Amendment No. 6 to Post Petition Loan and Security
Agreement, dated as of March     , 2008, among the
Lenders, the Agent, the Company and the Borrowers.

 

“Commitment” or “Revolving
Loan Commitment” means, at any time with respect to a Lender, the principal
amount set forth beside such Lender’s name under the heading “Commitment”
on Schedule 1.1  attached to the
Agreement, on the signature page of the Assignment and Acceptance pursuant
to which such Lender became a Lender hereunder in accordance with the
provisions of Section 11.2, or in a joinder agreement related to a
Commitment Increase, as such Commitment may be adjusted from time to 

 

3

 

time in accordance with
the provisions of Section 11.2, and “Commitments” means,
collectively, the aggregate amount of the commitments of all the Lenders.

 

“Commitment Increase”
shall have the meaning set forth in Section 1.2.

 

“Increase Effective
Date” shall have the meaning set forth in Section 1.2.

 

“Incremental Lender”  shall have the meaning set forth in Section 1.2.

 

“Maximum Revolver
Amount” means, at any time, the lesser of (i) $250,000,000 or (ii) the
aggregate amount of the Commitments at such time.

 

“Restricted Investment”
means, as to any Borrower, any acquisition of property by such Person in
exchange for cash or other property, whether in the form of an acquisition of
stock, debt, or other indebtedness or obligation, or the purchase or
acquisition of any other property, or a loan, advance, capital contribution, or
subscription, including in connection with the organization, creation or
acquisition of any Subsidiary (each an “Investment”), except the
following:  (a) acquisitions of
Equipment and other capital assets in the ordinary course of business of such
Person; (b) acquisitions of Inventory in the ordinary course of business
of such Person; (c) acquisitions of current assets acquired in the ordinary
course of business of such Person; (d) Investments in Cash Equivalents; (e) Investments
by any Borrower in any other Borrower, (f) extensions of trade credit and
prepaid expenses made in the ordinary course of business, (g) (i) loans
to officers of any Borrower in the ordinary course of business, (ii) loans
and advances to employees of any Borrower for travel, entertainment and
relocation expenses in the ordinary course of business and (iii) loans by
any Borrower to employees in connection with management incentive plans, provided
that the aggregate outstanding principal amount of all such loans and advances
made pursuant to this clause (g) shall not exceed $5,000,000 at any
time; (h) loans, made while no Default or Event of Default has occurred
and is continuing, in an aggregate amount not to exceed $24,750,000 at any time
outstanding made to ART by W. R. Grace & Co.-Conn; (i) Investments
in Alltech Associates, Inc. (the “Alltech Investments”) in an
aggregate outstanding amount not to exceed $10,000,000, and any other Alltech
Investments in excess thereof so long as immediately after giving effect to any
such Alltech Investments, Availability equals or is greater than $75,000,000
and the aggregate outstanding amount of Alltech Investments does not exceed
$25,000,000; (j) Investments outstanding on the Amendment No. 1
Closing Date and listed on Schedule A-1; (k) Investments, made
while no Default or Event of Default has occurred and is continuing, not
otherwise permitted hereunder by any Borrower in any Other Subsidiary, provided
that (A) immediately prior to and immediately after giving effect to such
Investments, Availability equals or is greater than $125,000,000 and (B) after
giving effect to such Investments, the aggregate then outstanding amount of all
such Investments made pursuant to this clause (k) subsequent to the
Amendment No. 1 Closing Date shall not exceed  $60,000,000 in the aggregate on a net annual
cash flow basis cumulatively (it being agreed that only $22,500,000 of this
amount may be invested through transactions which do not require and have not
received approval of the Bankruptcy Court); (l) Investments received in
connection with the collection of Accounts in the ordinary course of business; (m) Investments
received as 

 

4

 

consideration
in connection with any asset sale or other disposition of assets permitted
hereunder; and (n) other Investments not otherwise permitted hereunder
made by any Borrower, provided that, after giving effect thereto, the aggregate
amount of all such Investments made at any time after the Amendment No. 1
Closing Date by all Borrowers under this clause (n) shall not
exceed $1,000,000 at any time outstanding.

 

“Stated Termination
Date” means April 1, 2010.

 

(h)           Schedule 1.1 to the Loan
Agreement is hereby amended and restated to read in its entirety as Schedule
1.1 to this Amendment.

 

2.             Amendment Fees. 
The Borrowers jointly and severally agree to pay the Agent the fees
described in that certain fee letter attached hereto as Annex I (the “Fee
Letter”).

 

3.             Conditions.

 

(a)           This Amendment shall be effective
upon satisfaction of the following conditions precedent:

 

                (i)            This
Amendment shall have been executed by each party hereto; and

 

                (ii)           The
Agent shall have received a certificate from the chief financial officer of the
Company certifying that (A) immediately after giving effect to this
Amendment, all representations and warranties made hereunder, in the Loan
Agreement and in the other Loan Documents shall be true and correct as if made
on the date hereof, (B) the Borrowers have performed and complied with all
covenants, agreements and conditions contained herein which are required to be
performed or complied with by the Borrowers on or before the date hereof and (C) no
Default or Event of Default shall have occurred and be continuing after giving
effect to this Amendment.

 

(b)           The following shall
be conditions precedent to the execution of this Amendment:

 

(i)            The
Agent shall have received (i) a certificate from an authorized officer of
each Borrower, or of its member or of each of its partners, certifying that
there have been no changes to each of the articles of incorporation or
certificates of formation or other charter documents of such Borrower, or to
the bylaws or other similar agreements of such Borrower since March 30,
2006, or certifying copies of any articles of incorporation or certificates of
formation or other charter documents, or bylaws or other similar agreements of
such Borrower that have changed since March 30, 2006, (ii) copies of
resolutions of the Board of Directors or similar managing body of each
Borrower, or of its member or of each of its partners, approving and adopting
this Amendment and the transactions contemplated herein and authorizing execution
and delivery of this Amendment and certified by the secretary or an assistant
secretary of such Borrower, or of its member or of each of its partners, to be
true and correct and in force and effect as 

 

5

 

of
the date hereof, (iv)  a certificate of the secretary or an assistant
secretary of each Borrower, or of its member or of each of its partners,
certifying as to the incumbency of the officers or authorized signatories of
each Borrower, or of its member or each of its partners, signing this
Amendment, the Fee Letter or the certificate described in Section 3(a)(ii) hereof
and (v) an original, duly certified as of a current date by the applicable
Secretary of State or other official, of a good standing certificate issued by
the jurisdiction of incorporation or organization of each Borrower in which the
jurisdiction in question issues such a certificate;

 

(ii)           The
Borrowers shall have paid the fees described in the Fee Letter and all other
fees and expenses of the Agent and the Attorney Costs incurred in connection
with this Amendment and any of the Loan Documents and the transactions
contemplated thereby to the extent invoiced;

 

(iii)          The
Agent shall have received evidence, in form, scope, and substance, reasonably
satisfactory to the Agent, of all insurance coverage as required by the Loan
Agreement;

 

(iv)          The
Agent and the Lenders shall have had an opportunity, if they so choose, to
examine the books of account and other records and files of the Borrowers and
to make copies thereof, and to conduct a field examination and audit of the
Collateral which shall include, without limitation, updated desktop fixed asset
appraisals, verification of Inventory, Accounts, and the Borrowing Base, and in
each case the results of such examination and audit shall have been
satisfactory to the Agent and the Lenders in all respects;

 

(v)           All
proceedings taken in connection with the execution of this Amendment and all
documents and papers relating thereto shall be satisfactory in form, scope, and
substance to the Agent and the Lenders;

 

(vi)          The
Agent shall have received a copy of the signed order (the “Amendment Order”)
of the Bankruptcy Court in substantially the form attached hereto as Annex
II authorizing and approving the transactions contemplated hereby.  The Amendment Order (i) shall be in form
and substance satisfactory to the Agent, (ii) shall be certified by the
Clerk of the Bankruptcy Court as having been duly entered, (iii) shall
approve the payment by the Borrowers of all of the fees set forth in the Fee
Letter, and (iv) shall be in full force and effect and shall not have been
vacated, reversed, modified, amended or stayed; and

 

(vii)         Each
Person which is a Lender prior to the execution of this Amendment and which is
not executing this Amendment shall have assigned all of its Commitments to a
Lender which is executing this Amendment.

 

4.             Reference to and Effect Upon the
Loan Agreement.

 

(a)           Except as specifically amended above,
the Loan Agreement and the other Loan Documents shall remain in full force and
effect and are hereby ratified and confirmed.

 

6

 

(b)           Upon the effectiveness of this
Amendment, each reference in the Loan Agreement to “this Agreement”, “hereunder”,
“hereof”, “herein” or words of similar import shall mean and be a reference to
the Loan Agreement as amended hereby.

 

5.             Defined Terms. 
Except as otherwise defined herein, all defined terms herein shall have
the meanings ascribed thereto in the Loan Agreement.

 

6.             Governing Law. 
THIS AMENDMENT SHALL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF
THE PARTIES HERETO DETERMINED IN ACCORDANCE WITH THE INTERNAL LAWS (PROVIDED
THAT PERFECTION ISSUES WITH RESPECT TO ARTICLE 9 OF THE UCC MAY GIVE
EFFECT TO APPLICABLE CHOICE OR CONFLICT OF LAW RULES SET FORTH IN ARTICLE 9 OF
THE UCC) OF THE STATE OF NEW YORK TO THE EXTENT NOT PREEMPTED BY FEDERAL
BANKRUPTCY LAWS; PROVIDED THAT THE AGENT AND THE LENDERS SHALL RETAIN ALL
RIGHTS ARISING UNDER FEDERAL LAW.

 

7.             Headings.  Section headings
in this amendment are included herein for convenience of reference only and
shall not constitute a part of this Amendment for any other purposes.

 

8.             Severability.  If any provision of this Amendment shall be
prohibited by or invalid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without
invalidating the remainder of such provision or the remaining provisions of
this Amendment.

 

9.             Acceptance
of Signatures.  The parties
agree that this Amendment will be considered signed when the signature of a
party is delivered by facsimile or electronic mail transmission.  Such facsimile or electronic mail signature
shall be treated in all respects as having the same effect as an original signature.

 

10.           Counterparts.  This Amendment may be executed in any number
of counterparts, each of which when so executed shall be deemed an original,
but all such counterparts shall constitute one and the same instrument.

 

(Signature Pages Follow)

 

7

 

IN WITNESS WHEREOF, this
Amendment has been duly executed as of the date first written above.

 

	
   

  	
  BANK
  OF AMERICA, N.A.,

  
	
   

  	
  as
  Agent and Lender

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Edmundo Kahn

  
	
   

  	
  Name: 

  	
  Edmundo Kahn

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

 

	
   

  	
  BORROWERS:

   

  W. R. Grace &
  Co.

  A-1 Bit & Tool
  Co., Inc.

  Alewife Boston Ltd.

  Alewife Land
  Corporation

  Amicon, Inc.

  CB Biomedical, Inc.

  CCHP, Inc.

  Coalgrace, Inc.

  Coalgrace II, Inc.

  Creative Food ‘N Fun
  Company

  Darex Puerto Rico, Inc.

  Del Taco Restaurants, Inc.

  Ecarg, Inc.

  Five Alewife Boston
  Ltd.

  G C Limited Partners I, Inc.

  G C Management, Inc.

  GEC Management
  Corporation

  GN Holdings, Inc.

  GPC Thomasville Corp.

  Gloucester New
  Communities Company, Inc.

  Grace A-B Inc.

  Grace A-B II Inc.

  Grace Chemical Company
  of Cuba

  Grace Culinary Systems, Inc.

  Grace Drilling Company

  Grace Energy
  Corporation

  Grace Environmental, Inc.

  Grace Europe, Inc.

  Grace H-G Inc.

  Grace H-G II Inc.

  

 

 

[Signature
Page to Amendment No. 6 to 

Post-Petition
Loan and Security Agreement]

 

 

	
   

  	
  Grace Hotel Services
  Corporation

  Grace International
  Holdings, Inc.

  Grace Offshore Company

  Grace PAR Corporation

  Grace Petroleum Libya
  Incorporated

  Grace Tarpon
  Investors, Inc.

  Grace Ventures Corp.

  Grace
  Washington, Inc.

  W. R. Grace Capital
  Corporation

  W. R. Grace &
  Co.-Conn.

  W. R. Grace Land
  Corporation

  Gracoal, Inc.

  Gracoal II, Inc.

  Guanica-Caribe Land
  Development Corporation

  Hanover Square
  Corporation

  Homco
  International, Inc.

  Kootenai Development
  Company

  L B Realty, Inc.

  Litigation
  Management, Inc.

  Monolith Enterprises,
  Incorporated

  Monroe
  Street, Inc.

  MRA Holdings Corp.

  MRA
  Intermedco, Inc.

  MRA Staffing
  Systems, Inc.

  Remedium
  Group, Inc.

  Southern Oil,
  Resin & Fiberglass, Inc.

  Water Street
  Corporation, each as a Debtor and a 

  Debtor-in-Possession

   

   

  
	
   

  	
  By:

  	
  /s/ Robert M. Tarola

  
	
   

  	
  Its Duly
  Authorized Signatory

  

 

 

[Signature
Page to Amendment No. 6 to 

Post-Petition
Loan and Security Agreement]

 

 

	
   

  	
  CC Partners, as a Debtor and Debtor-in-

  Possession

  
	
   

  	
   

  
	
   

  	
  By:

  	
  MRA Staffing
  Systems, Inc., a General 

  Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  CCHP, Inc., a
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Axial Basin Ranch Company, as a Debtor and 

  Debtor-in-Possession

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Grace A-B
  II, Inc., a General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Grace A-B, Inc., a
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Hayden-Gulch West Coal Company, as a Debtor 

  and Debtor-in-Possession

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Grace H-G, Inc., a
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Grace H-G
  II, Inc., a General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
					

 

 

	
   

  	
  H-G
  Coal Company, as a Debtor and Debtor-in-

  Possession 

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Coalgrace, Inc., a
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Coalgrace
  II, Inc., a General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:  

  	
  /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Dewey
  and Almy, LLC, as a Debtor and Debtor-in-

  Possession 

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  W. R. Grace &
  Co.-Conn., its sole

  member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   /s/Robert M. Tarola

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
							

 

4

 

	
   

  	
  THE CIT GROUP/BUSINESS
  CREDIT

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Matthew DeFranco

  
	
   

  	
  Title:

  	
   Vice President

  
				

 

	
   

  	
   

  	
  Address:

  	
   11 West 42nd Street

  
	
   

  	
   

  	
   

  	
  New York, NY 10036

  
	
   

  	
   

  	
  Attention: 

  	
    Matthew DeFranco

  
	
   

  	
   

  	
  Facsimile:

  	
    (212)
  461-7762

  

 

 

	
   

  	
  PNC BANK, NATIONAL
  ASSOCIATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ John D. Trott

  
	
   

  	
  Title:

  	
   Vice President

  
	
   

  	
   

  	
  Address:

  	
  70 East 55th Street

  
	
   

  	
   

  	
   

  	
  14th Floor

  
	
   

  	
   

  	
   

  	
  New York, NY 10022

  
	
   

  	
   

  	
   

  	
  Attention: John D. Trott

  
	
   

  	
   

  	
   

  	
  Tele: (212) 752-6079

  
	
   

  	
   

  	
   

  	
  Facsimile: (212) 303-0060

  
						

 

 

SCHEDULE 1.1

 

COMMITMENTS

 

	
  Lender

  	
   

  	
  Revolving Loan

  Commitment

  	
   

  	
  Pro Rata Share

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  (3 decimals)

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
  $

  	
  100,000,000

  	
   

  	
  60.606

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  The CIT Group/Business Credit, Inc.

  	
   

  	
  $

  	
  40,000,000

  	
   

  	
  24.242

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  PNC Bank, National Association

  	
   

  	
  $

  	
  25,000,000

  	
   

  	
  15.151

  	
  %

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]