Document:

dxpe-20150630_ex101.htm

  

  

  

Exhibit 10.1                                                                                                                                Execution Version

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

Dated as of August 6, 2015

 

This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is by and among DXP ENTERPRISES, INC., a Texas corporation (“US Borrower”), DXP CANADA ENTERPRISES LTD., a corporation organized under the laws of British Columbia, Canada (“Canadian Borrower” and together with US Borrower, the “Borrowers”), the lenders who are party to this Amendment (the “Consenting Lenders”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).

 

PRELIMINARY STATEMENTS

 

WHEREAS, the Borrowers, the lenders party thereto (the “Lenders”) and the Administrative Agent entered into an Amended and Restated Credit Agreement dated as of January 2, 2014 (as amended hereby and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the Borrowers have requested that the Administrative Agent and the Lenders agree to amend the Credit Agreement as specifically set forth herein and, subject to the terms of this Amendment, the Administrative Agent and the Consenting Lenders have agreed to grant such request of the Borrowers.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

Section 1. Capitalized Terms.  All capitalized terms not otherwise defined in this Amendment (including without limitation in the introductory paragraph and the Preliminary Statements hereto) shall have the meanings as specified in the Credit Agreement.

 

Section 2. Amendments to Credit Agreement.  Subject to and in accordance with the terms and conditions set forth herein the Administrative Agent and the Lenders party hereto hereby agree as follows:

 

(a) Section 1.1 of the Credit Agreement is hereby amended by:

 

(i) amending the definition of “Applicable Rate” by amending and restating the table therein in its entirety as follows:

 

	
Pricing Level

	
Consolidated Leverage Ratio

	
Commitment

Fee

	
LIBOR Rate and CDOR Rate +

	
Base Rate and Canadian Base Rate +

	
I

	
Less than 1.50 to 1.00

	
0.20%

	
1.25%

	
0.25%

	
II

	
Greater than or equal to 1.50 to 1.00 but less than 2.00 to 1.00

	
0.25%

	
1.50%

	
0.50%

	
III

	
Greater than or equal to 2.00 to 1.00 but less than 2.50 to 1.00

	
0.30%

	
1.75%

	
0.75%

	
IV

	
Greater than or equal to 2.50 to 1.00 but less than 3.00 to 1.00

	
0.35%

	
2.00%

	
1.00%

	
V

	
Greater than or equal to 3.00 to 1.00 but less than 3.50 to 1.00

	
0.40%

	
2.25%

	
1.25%

	
VI

	
Greater than or equal to 3.50 to 1.00 but less than 4.00 to 1.00

	
0.45%

	
2.50%

	
1.50%

	
VII

	
Greater than or equal to 4.00 to 1.00

	
0.50%

	
2.75%

	
1.75%

 

(ii) amending and restating the definition of “LIBOR Rate” by adding the following sentence at the end of such definition:

 

 

“Notwithstanding the foregoing, if the LIBOR Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.”

 

(b) amending Section 9.12(a) of the Credit Agreement by amending and restating the table therein in its entirety as follows:

 

	
Period

	
Maximum Ratio

	
June 30, 2015 through September 30, 2016

	
4.25 to 1.00

	
December 31, 2016

	
4.00 to 1.00

	
March 31, 2017 through June 30, 2017

	
3.75 to 1.00

	
September 30, 2017 through December 31, 2017

	
3.50 to 1.00

	
March 31, 2018 and thereafter

	
3.25 to 1.00

	  	  

(c) amending Section 9.12(b) of the Credit Agreement by deleting such Section in its entirety and replacing it with the following:

 

“(b)           Consolidated Fixed Charge Coverage Ratio.  As of the last day of any fiscal quarter ending during the periods specified below, permit the Consolidated Fixed Charge Ratio to be less than the corresponding ratio set forth below:

 

	
Period

	
Minimum Ratio

	
June 30, 2015 through December 31, 2016

	
1.15 to 1.00

	
March 31, 2017 and thereafter

	
1.25 to 1.00

	  	  

Section 3. Conditions of Effectiveness.  The effectiveness of this Amendment shall be subject to the satisfaction of each of the following conditions precedent:

 

(a) the Administrative Agent shall have received counterparts of this Amendment executed by each Borrower, each other Credit Party, the Administrative Agent and the Required Lenders;

 

(b) the representations and warranties of the Borrowers contained in Section 4 shall be true and correct;

 

(c) the Administrative Agent shall have received, for the account of each Consenting Lender which delivered its executed signature page to this Amendment by the deadline communicated by the Administrative Agent to the Lenders, a fee in an amount equal to 0.10% times the principal amount of such Consenting Lender’s Commitment as of the date of this Amendment; and

 

(d) all reasonable out-of-pocket costs and expenses incurred by the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder (including, without limitation, the reasonable fees, charges and disbursements of legal counsel for the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment) shall have been paid by the Borrowers.

 

Section 4. Representations and Warranties of the Borrowers.  Each Borrower represents and warrants as follows:

 

(a) The execution, delivery and performance by such Borrower of its obligations in connection with this Amendment are within its corporate (or other organizational) powers, have been duly authorized by all necessary corporate (or other organizational) action and do not and will not (i) violate any provision of its articles or certificate of incorporation or bylaws or similar organizing or governing documents of such Borrower, (ii) contravene any Applicable Law which is applicable to such Borrower, (iii) conflict with, result in a breach of or constitute (with notice, lapse of time or both) a default under any material indenture or instrument or other material agreement to which such Borrower is a party, by which it or any of its properties is bound or to which it is subject, or (iv) except for the Liens granted in favor of the Administrative Agent pursuant to the Security Documents, result in or require the creation or imposition of any Lien upon any of its properties or assets, except, in the case of clauses (ii) and (iii) above, to the extent such contraventions, conflicts, breaches or defaults could not reasonably be expected to have a Material Adverse Effect.

 

(b) Such Borrower has taken all necessary corporate (or other organizational) action to execute, deliver and perform this Amendment and has validly executed and delivered each of this Amendment.  This Amendment constitutes the legal, valid and binding obligation of such Borrower enforceable against such Borrower in accordance with its terms, except to the extent that enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally, by general equitable principles or by principles of good faith and fair dealing.

 

(c) No material consent, approval, authorization or other action by, notice to, or registration or filing with, any Governmental Authority or other Person is or will be required as a condition to or otherwise in connection with the due execution, delivery and performance by such Borrower of this Amendment except such as have been obtained or made and are in full force and effect and except filings necessary to perfect Liens created under the Loan Documents.

 

(d) After giving effect to this Amendment, the representations and warranties contained in each of the Loan Documents are true and correct in all material respects on and as of the date hereof as though made on and as of such date (other than any such representations or warranties that, by their terms, refer to a specific date, in which case as of such specific date).

 

(e) No Default or Event of Default shall exist immediately prior to and after giving effect to this Amendment.

 

Section 5. Reference to and Effect on the Loan Documents.  On and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Amendment and this Amendment shall constitute a Loan Document.

 

(a) The Credit Agreement, the Notes and each of the other Loan Documents, as specifically amended by this Amendment, are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  Without limiting the generality of the foregoing, the Security Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Credit Parties under the Loan Documents, in each case as amended or converted by this Amendment.

 

(b) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.

 

Section 6. Reaffirmations.  Each Credit Party (a) consents to this Amendment and agrees that the transactions contemplated by this Amendment shall not limit or diminish the obligations of such Person, or release such Person from any obligations, under any of the Loan Documents to which it is a party, (b) confirms and reaffirms its obligations under each of the Loan Documents to which it is a party and (c) agrees that each of the Loan Documents to which it is a party remain in full force and effect and are hereby ratified and confirmed.

 

Section 7. Execution in Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Amendment.

 

Section 8. Governing Law.  This Amendment and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York.

 

Section 9. Entire Agreement.  This Amendment and the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent, the Issuing Lender, each Swingline Lender and/or the Arranger, constitute the entire agreement among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.

 

[Signature Pages Follow]

69196380_4

  

  

  

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

 

DXP ENTERPRISES, INC., as US Borrower

 

By: /S/ Mac McConnell

Name:           Mac McConnell

 

Title:           Senior Vice President, Chief Financial Officer                             and Secretary

 

DXP CANADA ENTERPRISES LTD., as Canadian Borrower

 

By:  /S/ Mac McConnell

Name: Mac McConnell

 

Title: Chief Financial Officer

 

DXP HOLDINGS, INC., as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name: Mac McConnell

Title: Vice President

 

PMI OPERATING COMPANY, LTD., as a US Subsidiary Guarantor

 

By:  PUMP-PMI, LLC, as General Partner

 

        By:  /S/ Mac McConnell

        Name: Mac McConnell

        Title: Secretary and Treasurer

 

PMI INVESTMENT, LLC, as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name: Mac McConnell

Title: Secretary and Treasurer

 

PUMP-PMI, LLC, as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name:           Mac McConnell

Title:           Secretary and Treasurer

 

VERTEX CORPORATE HOLDINGS, INC., as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name: Mac McConnell

Title: Vice President, Secretary and Treasurer

 

VERTEX-PFI, INC., as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name: Mac McConnell

Title: Vice President and Secretary

 

PFI, LLC, as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name:           Mac McConnell

Title: Vice President and Secretary

 

B27 HOLDINGS CORP., as Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name: Mac McConnell

Title: Vice President, Chief Financial Officer and Secretary

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

B27, LLC, as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name: Mac McConnell

Title: Vice President and Chief Financial Officer

 

B27 RESOURCES, INC., as a US Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name:           Mac McConnell

Title: Vice President and Chief Financial Officer

 

BEST HOLDING, LLC, as Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name: Mac McConnell

Title:           Vice President and Chief Financial Officer

 

BEST EQUIPMENT SERVICE & SALES COMPANY, LLC, as Subsidiary Guarantor

 

By:  /S/ Kent Yee

Name:           Kent Yee

Title: Secretary

 

PUMPWORKS 610, LLC, as Subsidiary Guarantor

 

By:  /S/ Kent Yee

Name: Kent Yee

Title: Secretary

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

INTEGRATED FLOW SOLUTIONS, LLC, as a US Subsidiary Guarantor

 

By:  /S/ Kent Yee

Name: Kent Yee

Title: Secretary

 

INDUSTRIAL PARAMEDIC SERVICES LTD., as a Canadian Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name:           Mac McConnell

Title:  Director

 

HSE INTEGRATED LTD., as a Canadian Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name:           Mac McConnell

Title:           Senior Vice President

 

NATIONAL PROCESS EQUIPMENT INC., as a Canadian Subsidiary Guarantor

 

By:  /S/ Mac McConnell

Name:           Mac McConnell

Title:           Chief Financial Officer

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

ADMINISTRATIVE AGENT AND LENDERS:

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent, Swingline Lender, Issuing Lender and Lender

By:  /S/ Tom Caver

Name: Thomas F. Caver, III

Title: Senior Vice President

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

BANK OF AMERICA, N.A., as Lender

 

By:  /S/ Juan Trejo

Name: Juan Trejo

Title: Vice President

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

BANK OF AMERICA, N.A. (Canada Branch), as Lender

 

By: /S/ Juan Trejo

Name: Juan Trejo

Title: Vice President

 

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

COMPASS BANK, as Lender

 

By:  /S/ Frank Carvelli

Name: Frank Carvelli

Title: Senior Vice President

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

REGIONS BANK, as Lender

 

By:  /S/ Joey Powell

Name: Joey Powell

Title: Sr. Vice President

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

BRANCH BANKING AND TRUST COMPANY, as Lender

 

By:  /S/ Benjamin Shields

Name: Benjamin Shields

Title: Banking Officer

 

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

U.S. BANK NATIONAL ASSOCIATION, as Lender

 

By:  /S/ Jonathan F Lindvall

Name: Jonathan F. Lindvall

Title: Vice President

 

 

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

JPMORGAN CHASE BANK, N.A., as Lender

 

By:  /S/ Jennifer Kalvaitis

Name: Jennifer Kalvaitis

Title: Executive Director

 

ACKNOWLEDGED BY:

 

JPMORGAN CHASE BANK, N.A., TORONTO BRANCH, as its Applicable Designee

 

By:  /S/ Michael N Tam

Name: Michael N. Tam

Title: Senior Vice President

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

ROYAL BANK OF CANADA, as Lender

 

By:  /S/ Emile Marx

Name: Emile Marx

Title: Director, NCG Finance

 

By:  /S/ Nicole Bradshaw

Name: Nicole Bradshaw

Title: VP, NCG Finance

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

AMEGY BANK NATIONAL ASSOCIATION, as Lender

 

By:  /S/ Jeremy A Newsom

Name: Jeremy A. Newsom

Title: Senior Vice President

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

BOKF, NA dba Bank of Texas, as Lender

 

By:  /S/ Marian Livingston

Name: Marian Livingston

Title: Senior Vice President

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature Page

  

  

  

CADENCE BANK, as Lender

 

By: /S/ H Gale Smith

Name: H. Gale Smith, Jr.

Title: Executive Vice President

 

 

DXP Enterprises, Inc.

First Amendment to Amended and Restated Credit Agreement

Signature PageQ215 Exhibit 10.1

Exhibit 10.1

AMENDMENT TO RESTATED TRUST AGREEMENT

AMENDMENT dated as of July 21, 2015 (this “Amendment”) to the Restated Trust Agreement dated as of October 11, 1996 (as amended from time to time, including as supplemented by Financing Annexes thereto, hereinafter referred to as the “Restated Trust Agreement”), among PT FREEPORT INDONESIA, a limited liability company organized under the laws of Indonesia (“FI”), PT Rio Tinto Indonesia (f/k/a P.T. RTZ-CRA INDONESIA), a company formed under the laws of the Republic of Indonesia (“PT-RTZ”), U.S. BANK NATIONAL ASSOCIATION, a national banking association  (successor to FIRST TRUST OF NEW YORK, NATIONAL ASSOCIATION, a national banking association), as trustee, JPMORGAN CHASE BANK, N.A. (successor to THE CHASE MANHATTAN BANK (as successor to The Chase Manhattan Bank (National Association)), as depositary, and certain Secured Creditors of FI listed as the Secured Creditors in each Financing Annex to the Trust Agreement.  

WHEREAS, the Trust Agreement dated as of May 15, 1970, as theretofore amended and restated, was restated in the form of the Restated Trust Agreement dated as of October 11, 1996 pursuant an Agreement to Amend and Restate Trust Agreement entered into by The RTZ Corporation PLC, a public limited company organized under the laws of England, RTZ Lender (as defined in the Restated Trust Agreement), FI, PT-RTZ, the Trustee, The Chase Manhattan Bank (as successor to The Chase Manhattan Bank (National Association)), as depositary, and The Chase Manhattan Bank, acting on behalf of certain Secured Creditors; and
WHEREAS, the parties to the Restated Trust Agreement have agreed to amend the Restated Trust Agreement in order to comply with certain Applicable Laws (as defined herein), including, but not limited to, regulations pertaining to the deposit of Proceeds (as defined in the Restated Trust Agreement) into a foreign exchange bank in Indonesia, as set forth in this Amendment;  
NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.  Definitions.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings given to such terms in the Restated Trust Agreement.

SECTION 2.  Amendment of the Restated Trust Agreement.  The Restated Trust Agreement is hereby amended as follows:

(a)  The heading of Article I is amended by the addition of “;  Compliance with Applicable Laws” after “Definitions” so that the heading of Article I shall now read as follows:

{N3064778.2}                                                                            1

Exhibit 10.1

“ARTICLE I
Definitions; Compliance with Applicable Laws”
(b)  Section 1.01 of the Restated Trust Agreement is amended by the addition of the following defined term as set forth below:

“Applicable Law” means, collectively, all applicable statutes, treaties, conventions, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities of the Republic of Indonesia, including, but not limited to regulations pertaining to the deposit of Proceeds  into a foreign exchange bank in Indonesia, the interpretation or administration thereof by any governmental authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders and decrees of courts or any governmental authority.
(c)  A new Section 1.02 is added to the Restated Trust Agreement as set forth below:

SECTION 1.02.  Compliance with Applicable Laws.  To the extent required by Applicable Law, any Proceeds, including those from any letter of credit required to be received through a foreign exchange bank in Indonesia shall be directed to such bank account as determined from time to time by FI.  To the extent such direction to a foreign exchange bank in Indonesia is not required by Applicable Law, all Proceeds shall be directed in accordance with Articles II through IV of this Agreement.    For the avoidance of doubt, the provisions of Articles II through IV of this Agreement shall not apply to any Proceeds deposited into accounts in Indonesia pursuant to this Section 1.02.
(d)  Section 3.01(a) of the of the Restated Trust Agreement is amended by the addition of the phrase “and to the extent permitted by Applicable Law” immediately following the phrase “Simultaneously with the execution and delivery hereof”.

(e)  Section 3.01(a)(z) of the Restated Trust Agreement is amended by the addition of the phrase “except those required by Applicable Law to be directed to a foreign exchange bank account in Indonesia pursuant to Section 1.02 of this Agreement” immediately following the phrase “all Proceeds”.

(f)  Section 3.01(c) of the Restated Trust Agreement is amended by the replacement of “Indonesian law” with “Applicable Law” and by the addition of the phrase “and to the extent permitted by Applicable Law” immediately following the phrase “to the extent possible”.

(g)  The first sentence of Section 3.02(a) of the Restated Trust Agreement is amended by the replacement of the phrase “FI represents and warrants that the assignments made by it” with the phrase “FI represents and warrants that such assignments permitted by Applicable law and made by it”.  

{N3064778.2}                                                                            2

Exhibit 10.1

    

(h)  The second sentence of Section 3.02(a) of the Restated Trust Agreement is amended by the replacement of the phrase “FI represents warrants that the Concentrate Sales Agreements” with the phrase “FI represents and warrants that, to the extent permitted by Applicable Law, the Concentrate Sales Agreements”.

SECTION 3.  Effect of Amendment;  Severability.  Except as expressly set forth in this Amendment, all provisions of the Restated Trust Agreement shall remain in full force and effect.  All provisions of this Amendment are independent and severable from each other.  If for any reason any one or more of the provisions herein shall be void, invalid, illegal or unenforceable, in whole or in part, in any respect under any applicable law, including the Applicable Law, such provision, or part thereof, shall to that extent be deemed not to form part of this Amendment and the validity, legality and enforceability of the remaining provisions contained herein shall not be affected or impaired in any way and shall be enforced as written.  In any such event, each party hereto shall execute such additional documents or amendments as the other party may reasonably request in order to give valid, legal and enforceable effect to any provision hereof which is determined to be invalid, illegal or unenforceable.

SECTION 4.  Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED AND BE ENFORCEABLE IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK EXCEPT TO THE EXTENT THAT DOING SO WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

SECTION 5.  Headings;  Counterparts.  The headings in this Amendment are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.  This Amendment may be executed in several counterparts, each of which is an original, but all of which together shall constitute one instrument.  
[Remainder of page intentionally left blank]

{N3064778.2}                                                                            3

Exhibit 10.1

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

	
		
	PT FREEPORT INDONESIA,

	By:

	 
	/s/ Robert R. Boyce

	 
	Name:  Robert R. Boyce

	 
	Title:  Treasurer

	
		
	PT RIO TINTO INDONESIA (F/K/A P.T. RTZ-CRA INDONESIA),

	By:

	 
	/s/ Greg Sinclair

	 
	Name:  Greg Sinclair

	 
	Title:  President Director

	
		
	US BANK NATIONAL ASSOCIATION, as Trustee,

	By:

	 
	/s/ Beverly A. Freeney

	 
	Name:  Beverly A. Freeney

	 
	Title:  Vice President

{N3064778.2}

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