Document:

Exhibit 10.5

Exhibit 10.5

STATEMENT OF INTENDED ABSTRACTION

THE UNDERSIGNED:

the private company with limited liability Constar International Holland (Plastics) B.V. (Company
number 09046375), with its registered office at Didam and its principal place of business in (6902
PA) Zevenaar, the Netherlands at Hengelder 42, hereinafter referred to as “the Client”;

WHEREAS:

	 	(a)	 	that the Client has been or will be granted loans by the private company with limited
liability ING Commercial Finance B.V. (Company number 30201094), incorporated and existing
under the laws of the Netherlands, with statutory seat in Amsterdam, the Netherlands, and
principal place of business in (3981 AZ) Bunnik, the Netherlands, at Runnenburg 30,
hereinafter referred to as “ING ComFin;

	 	(b)	 	that ING ComFin has imposed as a specific condition for this financing that if the
Client receives an instruction from her shareholder Constar Foreign Holdings Inc. (Company
number 1887826) with its principal place of business at N. Market Street 919 Suite 406,
19801 Wilmington Delaware, United States of America, hereinafter referred to as “the
Shareholder”, to make payment(s) of dividend or other distributions on shares, and/or the
abstraction of funds in whatever form, Client is bound to (i) inform ING ComFin at once of
this request, and to (ii) provide ING ComFin at once with a copy of its (most recent and up
to date) internal financial statements as per the previous month, in order for ING ComFin
to determine at it’s sole discretion if these (intended) payments will give reason for ING
ComFin to terminate the FSA.

	 	(c)	 	that the Client wishes to accept this condition,

HAS STATED AS FOLLOWS:

	 	1.	 	that at the moment Client receives an instruction of the Shareholder to make payment(s)
of dividend or other distributions on shares, and/or the abstraction of funds in whatever
form, Client is bound to (i) inform ING ComFin at once of this request in writing and of
the amount that the Shareholder instructs Client to pay, and to (ii) provide ING ComFin at
once with a copy of their most recent and up to date financial statements as per the
previous month, in order for ING ComFin to determine at it’s sole discretion if these
(intended) payments will give reason for ING ComFin to terminate the FSA.

	 	2.	 	This statement shall lapse as soon as ING ComFin no longer has any amounts owed to it
by the Client, regardless of the origin of such amounts.

	 	3.	 	This statement will be executed in the English language. However, in the event an
interpretation of words and phrases is necessary, the Dutch text of such words and phrases
will be binding. The parties and ING ComFin explicitly agree upon applicability of Dutch
law to this agreement.

Thus agreed and drawn up at Bunnik on 14-4-2010

CONSTAR INTERNATIONAL HOLLAND (PLASTICS) B.V.

It’s managing director

A. Bloemendal

/s/ A. Bloemendal

FOR ACCEPTANCE;

ING COMMERCIAL FINANCE B.V.

/s/ Mark Putter and /s/ Sandy Brouwer

			
	 	 	 
	Statement of intended abstraction/version 1/2010
	 	Initials:Exhibit 10.6

Exhibit 10.6

AMENDMENT NUMBER ONE

TO CONSTAR INTERNATIONAL INC.

2009 EQUITY COMPENSATION PLAN

WHEREAS, the Board of Directors of Constar International Inc. has duly adopted an amendment to
the 2009 Equity Compensation Plan, such Plan is amended to add the following section 9.5:

“9.5. Notwithstanding anything in the Plan or an Award Agreement to the contrary, no
vesting period may be accelerated except in the case of death, Disability, retirement or
Change in Control, except as provided in any agreements existing as of the date the Plan
was approved by the Company’s stockholders.”

	 	 	 	 	 
	 	     /s/ Ruth Mack
 	 
	 	Ruth Mack 	 
	 	President and Chief Executive OfficerExhibit 10.7

Exhibit 10.7

EXECUTION COPY

AMENDMENT NO. 1 TO CREDIT AGREEMENT

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”), dated as of August 12,
2010, by and among CONSTAR, INC., a Pennsylvania corporation (the “Borrower”), the other
Credit Parties, General Electric Capital Corporation, a Delaware corporation (in its individual
capacity, “GE Capital”), as the sole Lender and as Agent for the Lenders (in such capacity,
the “Agent”), amends that certain Credit Agreement, dated as of February 11, 2010 (the
“Credit Agreement”), by and among the Borrower, the other Credit Parties signatory thereto,
the Agent and the Lender. Capitalized terms used herein and not otherwise defined herein shall
have the meanings ascribed to such terms in the Credit Agreement.

RECITALS

A. The Borrower has requested that the Lenders amend the Credit Agreement as set forth herein.

B. The Agent and the Lenders signatory hereto have agreed, on the terms and conditions set
forth below, to so amend the Credit Agreement.

AGREEMENT

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Borrower, the other Credit Parties signatory hereto, the Lenders signatory
hereto and the Agent hereby agree as follows:

1. Amendment to Credit Agreement. Subject to the satisfaction of the conditions
precedent set forth in Section 2 of this Amendment, the Credit Agreement is hereby amended
as follows:

(a) Section 1.1(b)(i)(A)(ii) of the Credit Agreement is hereby amended to delete
therefrom the reference to “$15,000,000” and to insert therefor a reference to “$20,000,000”.

(b) Section 1.9(d) of the Credit Agreement is hereby amended to delete therefrom the
phrase “If, at any time prior to the six-month anniversary of the Closing Date,” and to insert
therefor the following phrase: “If, at any time prior to the first anniversary of the Amendment No.
1 Effective Date,”.

 

 

 

(c) Section 1.13(d) of the Credit Agreement is hereby amended to delete the proviso
thereof in its entirety.

(d) Section 1.13(e) of the Credit Agreement is hereby amended to delete the proviso
thereof in its entirety.

(e) Section 6.2 of the Credit Agreement is hereby amended and restated in its entirety
as follows:

6.2 Minimum Fixed Charge Coverage Ratio. If Excess Availability (i)
during any fiscal month is less than $12,500,000 for any period of five (5)
consecutive Business Days during such fiscal month or (ii) is less than $7,500,000
at any time during any fiscal month, the Borrower shall not permit the Fixed Charge
Coverage Ratio to be less than 1.00:1.00, calculated on a trailing twelve (12) month
basis as of the last day of the then most recently ended fiscal month for which
financial statements have been delivered pursuant to Section 4.1.

(f) Section 11.1 of the Credit Agreement is hereby amended to amend and restate the
definition of “Applicable Margin” in its entirety as follows:

“Applicable Margin” means:

(a) for the period commencing on the Closing Date through the first day
of the calendar month immediately following the calendar month during which
financial statements for September 2010 are delivered:

(i) if a Base Rate Loan, three percent (3.00%) per annum; and

(ii) if a LIBOR Rate Loan, four percent (4.00%) per annum; and

(b) thereafter, the Applicable Margin shall equal the applicable LIBOR
margin or Base Rate margin per annum in effect from time to time determined
as set forth on the table below based upon the applicable Fixed Charge
Coverage Ratio, calculated on a trailing twelve (12) month basis as of the
last day of the then immediately preceding fiscal month:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Applicable	 
	If Fixed Charge Coverage	 	Applicable Margin	 	 	Margin for	 
	Ratio is:	 	for Base Rate Loans	 	 	LIBOR Rate Loans	 
	> 1.20:1.00
	 	 	2.75	%	 	 	3.75	%
	≥ 1.00:1.00, but ≤ 1.20:1.00
	 	 	3.00	%	 	 	4.00	%
	< 1.00:1.00
	 	 	3.25	%	 	 	4.25	%

 

2

 

The Applicable Margin shall be adjusted from time to time upon delivery
to Agent of the monthly financial statements for each fiscal month required
to be delivered pursuant to Section 4.1 accompanied by a written
calculation of the Fixed Charge Coverage Ratio certified on behalf of the
Borrower by a Responsible Officer of the Borrower as of the end of the
fiscal month for which such financial statements are delivered. If such
calculation indicates that the Applicable Margin shall increase or decrease,
then on the first day of the calendar month following the date of delivery
of such financial statements and written calculation the Applicable Margin
shall be adjusted in accordance therewith; provided, however, that if the
Borrower shall fail to deliver any such financial statements for any such
fiscal month by the date required pursuant to Section 4.1, then, at
Agent’s election, effective as of the first day of the calendar month
following the end of the calendar month during which such financial
statements were to have been delivered, and continuing through the first day
of the calendar month following the date (if ever) when such financial
statements and such written calculation are finally delivered, the
Applicable Margin shall be conclusively presumed to equal the highest
Applicable Margin specified in the pricing table set forth above.
Notwithstanding anything herein to the contrary, Swing Loans may not be
LIBOR Rate Loans.

In the event that any financial statement or Compliance Certificate
delivered pursuant to Sections 4.1 or 4.2 is inaccurate, and
such inaccuracy, if corrected, would have led to the imposition of a higher
Applicable Margin for any period than the Applicable Margin applied for that
period, then (i) the Borrower shall immediately deliver to Agent a corrected
financial statement and a corrected Compliance Certificate for that period,
(ii) the Applicable Margin shall be determined based on the corrected
Compliance Certificate for that period, and (iii) the Borrower shall
immediately pay to Agent (for the account of the Lenders that hold the
Revolving Loan Commitments and Loans at the time such payment is received,
regardless of whether those Lenders held the Revolving Loan Commitments and
Loans during the relevant period) the accrued additional interest owing as a
result of such increased Applicable Margin for that period. This paragraph
shall not limit the rights of Agent or the Lenders with respect to
subsection 1.3(c) and Article VII hereof, and shall survive
the termination of this Agreement until the payment in full in cash of the
aggregate outstanding principal balance of the Loans.

If an Event of Default is continuing at the time that a reduction in
the Applicable Margins is to be implemented in accordance with the table
above, such reduction will be deferred unless and until the first day of the
calendar month after the written waiver thereof.

 

3

 

(g) Section 11.1 of the Credit Agreement is hereby further amended to amend and
restate clause (c) of the definition of “Borrowing Base” in its entirety as follows:

(c) $5,000,000; provided, however, if the Fixed Charge Coverage Ratio,
calculated on a trailing twelve (12) month basis as of the last day of the 2011
Fiscal Year or the last day of any subsequent fiscal month, is at least 1.20:1.00,
then $2,500,000 effective as of the date on which the Borrower shall have delivered
the financial statements and other information and materials required by Section
4.1(a) hereof with respect to such Fiscal Year ended;

(h) Section 11.1 of the Credit Agreement is hereby further amended to amend and
restate clause (b)(vii) of the definition of “Consolidated EBITDA” in its entirety as
follows:

(vii) cash restructuring charges of (A) up to $3,000,000 per Fiscal Year for
the 2010 Fiscal Year and 2011 Fiscal Year, and (B) up to $1,500,000 per Fiscal Year
for the 2012 Fiscal Year and (pro-rated) for the 2013 Fiscal Year (subject, for all
charges under this clause (vii), to Borrower having provided Agent with
supporting detail for such charges as may be reasonably satisfactory to Agent); and

(i) Section 11.1 of the Credit Agreement is hereby further amended to amend and
restate clause (b)(iii) of the definition of “Fixed Charge Coverage Ratio” in its entirety
as follows:

(iii) Unfinanced Capital Expenditures during such period,

(j) Section 11.1 of the Credit Agreement is hereby further amended to add the
following new definitions in the correct alphabetical order:

“Amendment No. 1 Effective Date” means August 12, 2010.

“Unfinanced Capital Expenditures” means Capital Expenditures paid for with
proceeds of operating cash or Revolving Loans, and, in any event, excluding (i)
Capital Expenditures paid for with proceeds of Indebtedness permitted under
Sections 5.5(d), 5.5(i), 5.5(j) or 5.5(l) and (ii)
Capital Expenditures paid for with proceeds of the disposition of fixed assets
permitted under Section 5.2 within 300 days of the consummation of such
disposition.

(k) Exhibit 4.2(b) of the Credit Agreement is hereby amended and restated in its
entirety as provided in Annex A hereto.

 

4

 

2. Effectiveness of this Amendment; Conditions Precedent. The provisions of Section
1 of this Amendment shall be deemed to have become effective as of the date of this Amendment,
but such effectiveness shall be expressly conditioned upon Agent’s receipt of the following:

(a) a counterpart of this Amendment executed and delivered by duly authorized officers of the
Borrower, each other Credit Party, the Required Lenders and Agent; and

(b) a counterpart of that certain fee letter of even date herewith between the Borrower and
Agent.

3. Miscellaneous.

(a) Headings. The various headings of this Amendment are inserted for convenience of
reference only and shall not affect the meaning or interpretation of this Amendment or any
provisions hereof.

(b) Counterparts. This Amendment may be executed by the parties hereto in several
counterparts, each of which shall be deemed to be an original and all of which together shall be
deemed to be one and the same instrument. Delivery of an executed counterpart of a signature page
to this Amendment by facsimile transmission shall be effective as delivery of a manually executed
counterpart thereof.

(c) Interpretation. No provision of this Amendment shall be construed against or
interpreted to the disadvantage of any party hereto by any court or other governmental or judicial
authority by reason of such party’s having or being deemed to have structured, drafted or dictated
such provision.

(d) Representations, Warranties and Covenants. Each Credit Party hereby represents
and warrants that, as of the date hereof:

(i) this Amendment and the Credit Agreement as amended by this Amendment, constitute the
legal, valid and binding obligations of such Credit Party, enforceable against it in accordance
with their respective terms except as enforceability may be limited by applicable bankruptcy,
insolvency or similar laws affecting the enforcement of creditor’s rights generally or by
equitable principles relating to enforceability;

(ii) its execution, delivery and performance of this Amendment and its performance of the
Credit Agreement as amended by this Amendment, (A) are within such Person’s power; (B) have been
duly authorized by all necessary corporate, limited liability company or limited partnership
action; (C) do not contravene any provision of such Person’s charter, bylaws, partnership
agreement or operating agreement, as applicable; (D) do not violate in any material respect any
law or regulation, or any order or decree of any court or Governmental Authority; (E) do not
conflict in any material respect with or result in a material breach or termination of,
constitute a default under or accelerate or permit the acceleration of any performance required
by, any material indenture, mortgage, deed of trust, lease, agreement or other material
instrument to which such Person is a party or by which such Person or any of its material
property is bound; (F) do not result in the creation or imposition of any Lien upon any of the
property of such Person other than those in favor of Agent, on behalf of itself and Lenders,
pursuant to the Loan Documents; and (G) do not require any material consent or approval of any
Governmental Authority or any other Person that has not already been obtained; and

 

5

 

(iii) (1) no Default or Event of Default has occurred and is continuing and (2) all of the
representations and warranties of such Credit Party contained in the Credit Agreement and in each
other Loan Document to which it is a party are true and correct in all material respects as of
the date hereof as though made on and as of such date, except to the extent that such
representation or warranty expressly relates to an earlier date and except for changes therein
expressly permitted or expressly contemplated by the Credit Agreement.

(e) Reaffirmation, Ratification and Acknowledgment. Each Credit Party hereby (1)
ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, and
each grant of security interests and Liens in favor of the Agent, under each Loan Document to which
it is a party, (2) agrees and acknowledges that such ratification and reaffirmation is not a
condition to the continued effectiveness of such Loan Documents, (3) agrees that neither such
ratification and reaffirmation, nor the Agent’s or any Lender’s solicitation of such ratification
and reaffirmation, constitutes a course of dealing giving rise to any obligation or condition
requiring a similar or any other ratification or reaffirmation from such Credit Party with respect
to any subsequent modifications to the Credit Agreement or the other Loan Documents and (4) agrees
that none of the terms and conditions of this Amendment shall limit or diminish its payment and
performance obligations, contingent or otherwise, under the Loan Documents to which it is a party.
The Credit Agreement, as modified by this Amendment, is in all respects ratified and confirmed.
The parties hereto agree that each of the Loan Documents shall remain in full force and effect and
is hereby ratified and confirmed. This Amendment shall constitute a Loan Document for purposes of
the Credit Agreement.

(f) Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND
PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

(g) Effect. Upon the effectiveness of this Amendment, each reference in the Credit
Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import shall mean and be a
reference to the Credit Agreement as amended hereby and each reference in the other Loan Documents
to the Credit Agreement, “thereunder,” “thereof,” or words of like import shall mean and be a
reference to the Credit Agreement as amended hereby. This Amendment shall constitute a Loan
Document for purposes of the Credit Agreement.

(h) No Novation or Waiver. Except as specifically set forth in this Amendment, the
execution, delivery and effectiveness of this Amendment shall not (a) limit, impair, constitute a
waiver by, or otherwise affect any right, power or remedy of, the Agent or any Lender under the
Credit Agreement or any other Loan Document, (b) constitute a waiver of any provision in the Credit
Agreement or in any of the other Loan Documents or of any Default or Event of Default that may have
occurred and be continuing or (c) alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Credit Agreement or in any of the
other Loan Documents, all of which are ratified and affirmed in all respects and shall continue in
full force and effect.

 

6

 

(i) Agent’s Expenses. Without limitation of the obligations of the Credit Parties
under Section 9.5 of the Credit Agreement, the Borrower hereby agrees to promptly reimburse
Agent for all of the reasonable out-of-pocket expenses, including, without limitation, attorneys’
and paralegals’ fees, it has heretofore or hereafter incurred or incurs in connection with the
preparation, negotiation and execution of this Amendment.

******

 

7

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year
first above written.

	 	 	 	 	 
	 	CONSTAR, INC.,

as Borrower

 	 
	 	By:  	/s/ J. Mark Borseth
 	 
	 	 	Name:  	J. Mark Borseth 	 
	 	 	Title:  	Executive V.P. and C.F.O. 	 
	 
	 	CONSTAR INTERNATIONAL INC.

BFF INC.

DT, INC.

CONSTAR FOREIGN HOLDINGS, INC.,

as Credit Parties

 	 
	 	By:  	/s/ J. Mark Borseth
 	 
	 	 	Name:  	J. Mark Borseth 	 
	 	 	Title:  	Executive V.P. and C.F.O. 	 
	 
	 	CONSTAR INTERNATIONAL U.K. LIMITED,

as a Credit Parties

 	 
	 	By:  	/s/Chris Phelan
 	 
	 	 	Name:  	Chris Phelan 	 
	 	 	Title:  	V.P.  European Operations 	 

Signature Page to

Amendment No. 1 (Constar Credit Agreement)

 

 

 

	 	 	 	 	 
	 	GENERAL ELECTRIC CAPITAL CORPORATION,

as Agent and as the sole Lender

 	 
	 	By:  	/s/
Thomas Morante	 
	 	 	Name:  	Thomas
Morante	 
	 	 	Title:  	Duly Authorized Signatory 	 
	 

Signature Page to

Amendment No. 1 (Constar Credit Agreement)

 

 

 

ANNEX A

EXHIBIT 4.2(b)

COMPLIANCE CERTIFICATE

CONSTAR, INC.

Date: [_____] [__], 20[__]

This Compliance Certificate (this “Certificate”) is given by Constar, Inc., a
Pennsylvania corporation (the “Borrower”), pursuant to subsection 4.2(b) of that certain Credit
Agreement, dated as of February 11, 2010 (as the same may be amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”), among the Borrower, each
other “Credit Party” that is a party thereto, the Lenders, L/C Issuers party thereto and General
Electric Capital Corporation, as administrative agent for the Lenders. Capitalized terms used
herein but not otherwise defined herein shall have the respective meanings ascribed to such terms
in the Credit Agreement.

The officer executing this Certificate is a Responsible Officer of the Borrower and as such is
duly authorized to execute and deliver this Certificate on behalf of the Borrower. By executing
this Certificate, such officer hereby certifies to Agent, Lenders and L/C Issuer, on behalf of the
Borrower, that:

(a) the financial statements delivered with this Certificate in accordance with subsection
4.1(a) and/or 4.1(b) of the Credit Agreement fairly present, in all material respects, in
accordance with GAAP the financial position and the results of operations of Holdings and its
Subsidiaries as of the dates of and for the periods covered by such financial statements (subject,
in the case of interim financial statements, to normal year-end adjustments and the absence of
balance sheet reclassifications and footnote disclosure);

(b) to such officer’s knowledge, each Credit Party and each of their Subsidiaries, during the
period covered by such financial statements, has observed and performed all of their respective
covenants and other agreements in the Credit Agreement and the other Loan Documents to be observed,
performed or satisfied by them, and such officer had not obtained knowledge of any Default or Event
of Default [except as specified on the written attachment hereto];

(c) Exhibit A hereto is a correct calculation of each of the financial covenants contained in
Article VI of the Credit Agreement;

(d) based on the Fixed Charge Coverage Ratio as calculated in Exhibit A hereto, the Applicable
Margin for (i) Revolving Loans which are Base Rate Loans and Swing Loans is [_________] and
(ii) the Applicable Margin for Revolving Loans which are LIBOR Rate Loans is [_________];

(e) since the Closing Date and except as disclosed in prior Compliance Certificates delivered
to Agent, no Credit Party and no Subsidiary of any Credit Party has:

(i) changed its legal name, identity or jurisdiction of incorporation, organization or
formation except as follows: [____________________________________];

 

 

 

(ii) acquired all or substantially all of the assets of, or merged or consolidated with or
into, any Person, except as follows: [____________________________________]; or

(iii) changed its address or otherwise relocated, acquired fee simple title to any real
property or entered into any real property leases, except as follows: [____________________________________];

(f) attached hereto as Schedule 1 are the reports required by Section 4.2(i);
and1

[(g) attached hereto as Schedules 2 through 6 are the reports required by
Sections 3.16 (Intellectual Property), 3.19 (Ventures, Subsidiaries and Affiliates;
Outstanding Stock), 3.21 (Locations of Inventory, Equipment and Books and Records),
4.2(j)(i) (government contracts) and 4.2(j)(ii) (deposit accounts) as of the above
date.]2

IN WITNESS WHEREOF, Borrower has caused this Certificate to be executed by one of its
Responsible Officers this [________] day of [___________________], 20[_____].

	 	 	 	 	 
	 	CONSTAR, INC.

 	 
	 	By:  	
 	 
	 	 	Its: 	 	 

Note: Unless otherwise specified, all financial covenants are calculated for Holdings and its
Subsidiaries on a consolidated basis in accordance with GAAP and all calculations are without
duplication.

 

	 	 	 
	1	 	To be delivered concurrently with monthly financial statements.

	 
	2	 	To be delivered concurrently with quarterly and annual financial statements.

 

E 4.2(b)-2

 

EXHIBIT A TO EXHIBIT 4.2(b)

COMPLIANCE CERTIFICATE

Covenant 6.1 Capital Expenditure Limit

	 	 	 
	For purposes of Covenant 6.1, Capital Expenditures are
defined as follows:

	 	 
	 
	 	 
	The aggregate of all expenditures and obligations, for the
relevant test period set forth in Section 6.1 of the Credit
Agreement, which should be capitalized under GAAP

	 	$_________
	 
	 	 
	Less: [To the extent included above, amounts paid as the 

purchase price for a Permitted Acquisition]

	 	$_________
	 
	 	 
	Capital Expenditures

	 	$_________
	 
	 	 
	Permitted Capital Expenditures [(including carry forward of $_________ from prior period)]

	 	$_________
	 
	 	 
	In Compliance

	 	Yes/No

Fixed Charge Coverage Ratio (Covenant 6.2 and Applicable Margin)

Covenant 6.2:

	 	 	 
	Was (i) Excess Availability during the most recent fiscal month less
than $12,500,000 for any period of five (5) consecutive Business Days
during such fiscal month, or (ii) Excess Availability during the most
recent fiscal month less than $7,500,000 at any time during such
fiscal month?

	 	Yes/No
	 
	 	 
	If No, in compliance. If Yes, was the Fixed Charge Coverage Ratio
greater than or equal to 1.0:1.0, calculated on a trailing twelve (12)
month basis as of the last day of the previous fiscal month for which
financial statements have been delivered pursuant to
Section 4.1 of the Credit Agreement?

	 	Yes/No
	 
	 	 
	If Yes, in compliance. If No, not in compliance.
	 	 
	 
	 	 

 

 

 

	 	 	 
	Fixed Charge Coverage Ratio for the current month ended (for purposes
of calculating the Applicable Margin):

	 	 
	 
	 	 
	Calculate Consolidated EBITDA and Fixed Charge Coverage Ratio as
follows:

	 	 
	 
	 	 
	Consolidated EBITDA:
	 	 
	 
	 	 
	(a) Consolidated Net Income of such Person for such period

	 	$_________
	 
	 	 
	plus
	 	 
	 
	 	 
	(b) the sum of, in each case to the extent included in the calculation
of Consolidated Net Income but without duplication:

	 	 

	 	 	 	 	 
	 

	 	          (i) any provision for income taxes;

	 	$_________
	 
	 	 	 	 
	 

	 	          (ii) Consolidated Interest Expense;

	 	$_________
	 
	 	 	 	 
	 

	 	          (iii) loss from extraordinary items;

	 	$_________
	 
	 	 	 	 
	 

	 	          (iv) depreciation, depletion and amortization
expenses, including amortization related to
asset retirement obligations;

	 	$_________
	 
	 	 	 	 
	 

	 	          (v) non-recurring transaction expenses
incurred through February 28, 2010, including
without limitation any such expenses relating
to the transactions contemplated by the Loan
Documents (provided that the aggregate amount
of expenses added to Consolidated Net Income
pursuant to this clause (v) shall not exceed
$15,000,000);

	 	$_________
	 
	 	 	 	 
	 

	 	          (vi) (A) non-recurring cash charges incurred
from January 1, 2010 through December 31,
2010 related to restructuring the business to
accommodate the requirements of the 2008
Pepsi Contract (provided that the aggregate
amount of expenses added to Consolidated Net
Income pursuant to this clause (vi)(A) shall
not exceed $650,000) and (B) non-recurring
cash charges incurred prior to January 1,
2010 related to restructuring the business to
accommodate the requirements of the 2008
Pepsi Contract;

	 	$_________
	 
	 	 	 	 

[$_________] TERM NOTE B

OF [NAME OF BORROWER] FOR THE BENEFIT OF [NAME OF LENDER]

 

 

 

	 	 	 	 	 
	 

	 	          (vii) cash restructuring charges of (A) up to
$3,000,000 per Fiscal Year for the 2010
Fiscal Year and 2011 Fiscal Year, and (B) up
to $1,500,000 per Fiscal Year for the 2012
Fiscal Year and (pro-rated) for the 2013
Fiscal Year (subject, for all charges under
this clause (vii), to Borrower having
provided Agent with supporting detail for
such charges as may be reasonably
satisfactory to Agent); and

	 	$_________
	 
	 	 	 	 
	 

	 	          (viii) all other non-cash charges and
non-cash losses for such period, including
foreign currency adjustments, additions to
accounts receivable and inventory reserves,
impairment charges for goodwill and other
assets, accounting changes, financing costs,
the amount of any compensation deduction as
the result of any grant of stock or stock
equivalents to employees, officers, directors
or consultants, but excluding any such
non-cash charge, expense or loss to the
extent that it represents an accrual of or a
reserve for cash expenses in any future
period or an amortization of a prepaid cash
expense that was paid in a prior period

	 	$_________

	 	 	 
	minus
	 	 
	 
	 	 
	(c) the sum of, in each case to the extent included in the calculation
of such Consolidated Net Income but without duplication, (i) any
credit for income tax, (ii) interest income, (iii) gains from
extraordinary items for such period, (iv) any aggregate net gain (but
not any aggregate net loss) from the sale, exchange or other
disposition of capital assets by such Person and (v) any other
non-cash gains or other items, including accounting changes, which
have been added in determining Consolidated Net Income (other than the
accrual of revenue in the ordinary course), including any reversal of
a change referred to in clause (b)(v) above by reason of a decrease in
the value of any Stock or Stock Equivalent.

	 	$_________

[$_________] TERM NOTE B

OF [NAME OF BORROWER] FOR THE BENEFIT OF [NAME OF LENDER]

 

 

 

	 	 	 
	Consolidated EBITDA

	 	$_________
	 
	 	 
	Fixed Charge Coverage Ratio:

	 	 
	 
	 	 
	(a) Consolidated EBITDA

	 	$_________
	 
	 	 
	     divided by
	 	 
	 
	 	 
	(b) the sum of

	 	 
	 
	 	 
	     (i) Consolidated Interest Expense paid or accrued
(excluding (x) interest paid in kind and (y) non-cash
accretion of interest on the First Mortgage Notes), but
for the avoidance of doubt including the accrual of cash
interest on of the First Mortgage Notes, without
duplication for such period

	 	$_________
	 
	 	 
	     (ii) scheduled payments of principal with respect to
Indebtedness during such period

	 	$_________
	 
	 	 
	     (iii) Unfinanced Capital Expenditures during such period

	 	$_________
	 
	 	 
	     (iv) income taxes paid in cash during such period

	 	$_________
	 
	 	 
	     (v) cash dividends and other equity distributions
during such period paid by Holdings

	 	$_________
	 
	 	 
	     total:

	 	$_________
	 
	 	 
	Fixed Charge Coverage Ratio

	 	_________

[$_________] TERM NOTE B

OF [NAME OF BORROWER] FOR THE BENEFIT OF [NAME OF LENDER]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]