Document:

Exhibit
4.1

 

OWENS-ILLINOIS
GROUP, INC.

OWENS-BROCKWAY GLASS CONTAINER INC.

ACI OPERATIONS PTY LIMITED 

OI EUROPEAN GROUP B.V.

O-I EUROPE SARL

O-I CANADA CORP.

 

THIRD
AMENDMENT TO CREDIT AGREEMENT AND CONSENT

 

This THIRD
AMENDMENT TO CREDIT AGREEMENT AND CONSENT (this “Amendment”) is dated as of April 30, 2010 and entered
into by and among OWENS-ILLINOIS GROUP, INC.,
a Delaware corporation (“Company”), OWENS-BROCKWAY GLASS CONTAINER INC., a Delaware corporation,
ACI OPERATIONS PTY LIMITED, a limited
liability company organized under the laws of Australia, OI EUROPEAN
GROUP B.V., a private company with limited liability organized under
the laws of the Netherlands, O-I EUROPE SARL,
a Swiss Société à responsabilité limitée
(limited liability corporation), O-I CANADA CORP.,
a Nova Scotia company and OWENS-ILLINOIS GENERAL,
INC., a Delaware corporation, as Borrowers’ Agent, THE OTHER LOAN PARTIES PARTY HERETO, THE LENDERS
LISTED ON THE SIGNATURE PAGES HEREOF (each individually a “Lender” and collectively, “Lenders”),
DEUTSCHE BANK AG, NEW YORK BRANCH, as
Administrative Agent for Lenders (in such capacity, the “Administrative
Agent”) and DEUTSCHE BANK TRUST
COMPANY AMERICAS, as Collateral Agent for Lenders (in such capacity,
the “Collateral Agent”).  Capitalized terms used herein without
definition shall have the same meanings as set forth in the Credit Agreement
dated as of June 14, 2006 by and among the parties listed above (as
amended by that certain First Amendment to Credit Agreement and Consent dated
as of February 28, 2007, and that certain Second Amendment to Credit
Agreement and Consent dated as of June 11, 2007, the “Credit
Agreement”).

 

RECITALS

 

WHEREAS, Company,
Borrowers and Requisite Lenders desire to amend the Credit Agreement as set
forth herein.

 

NOW, THEREFORE, in
consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto agree as follows:

 

Section 1.              AMENDMENTS TO CREDIT AGREEMENT

 

A.            Amendments to Subsection 1.1 — Certain Defined Terms.  The definition of “New
Senior Debt” set forth in subsection 1.1 of the Credit Agreement is amended as
follows:

 

(i)            Clause
(u) thereof is hereby amended by adding the following parenthetical at the
end of such clause:

 

Third
Amendment

 

1

 

“(it being
understood and agreed that the right of any such obligor to satisfy its
obligations in respect of such Indebtedness with, or the right of any holder
thereof to convert or exchange such Indebtedness into, Holdings Common Stock,
or the obligation of Holdings, as a party to the indenture governing such
Indebtedness, to issue Holdings Common Stock in satisfaction of any such
Indebtedness, shall not render Holdings an “obligor” in respect of such
Indebtedness for purposes of this clause (u))”.

 

(ii)           Clause
(w) thereof is hereby amended by adding the following immediately prior to
the parenthetical at the end thereof:

 

“or, in the case of any such
Indebtedness that may, in whole or part, be converted into, exchanged for, or
which may, in whole or part, be satisfied by delivery of, Holdings Common
Stock, upon the occurrence of a conversion or exchange event relating to the
price of Holdings Common Stock, the trading price of such Indebtedness, a “fundamental
change” or other specified corporate transaction or corporate event”.

 

B.            Amendment to Subsection 7.2 — Default in Other Agreements.  Subsection 7.2C of
the Credit Agreement is hereby amended by adding the following proviso
immediately prior to the semicolon at the end of thereof:

 

“; provided
that, for the avoidance of doubt, the occurrence of a conversion or exchange
event relating to the price of Holdings Common Stock or the trading price of
such Indebtedness in respect of any such Indebtedness that may, in whole or
part, be converted into or exchanged for, or satisfied by delivery of, Holdings
Common Stock shall not constitute an Event of Default under this subsection
7.2C”.

 

Section 2.              CONSENT

 

Notwithstanding subsection 6.12B of
the Credit Agreement, the undersigned Lenders hereby consent to the repurchase
or redemption of Owens-Brockway’s 81⁄4% Senior Notes due 2013 with Net Debt
Proceeds of New Senior Debt issued after the date of this Amendment or
otherwise with balance sheet Cash of the Company and its Subsidiaries.

 

Section 3.              CONDITIONS TO EFFECTIVENESS

 

A.            This Amendment shall become effective only upon satisfaction
of all of the following conditions precedent (the date of such satisfaction
being referred to herein as the “Amendment Effective Date”):

 

(i)            Amendment.  On or before the
Amendment Effective  Date, (a) Requisite
Lenders under the Credit Agreement, (b) the Administrative Agent, (c) each
of the Borrowers, and (d) each of the Guarantors (as defined below) shall
have delivered to the Administrative Agent executed counterparts of this
Amendment.

 

2

 

(ii)           Representations
and Warranties.  On the Amendment Effective  Date, (a) the representations and warranties contained
in Section 4 hereof shall be true and correct as of such date in
all material respects, as though made on and as of such date except to the
extent such representations and warranties specifically relate to an earlier
date, in which case they were true in all material respects as of such earlier
date; (b) no Event of Default shall then exist; and (c) the Borrowers’
Agent shall deliver to the Administrative Agent a certificate signed by a
Responsible Officer or other authorized signatory of Borrowers’ Agent
confirming the foregoing.

 

Section 4.              REPRESENTATIONS AND WARRANTIES

 

In order to induce the
Lenders to enter into this Amendment, Company, each Borrower and each Guarantor
represents and warrants to each Lender that the following statements are true,
correct and complete on and as of the Amendment Effective Date:

 

A.            Authorization; Binding Obligations.  Company, each
Borrower and each Guarantor has all requisite organizational power and
authority to enter into this Amendment. 
The execution, delivery and performance of this Amendment has been duly
authorized by all necessary organizational action by Company, each Borrower and
each Guarantor.  This Amendment has been
duly executed and delivered by Company, each Borrower and each Guarantor and is
the legally valid and binding obligation of Company, each Borrower and each
Guarantor, enforceable against Company, each Borrower and each Guarantor in
accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws relating to
or limiting creditors’ rights generally and by equitable principles relating to
enforceability.

 

B.            No Conflict.  The execution and delivery by Company, each
Borrower and each Guarantor of this Amendment does not and will not (i) violate
any provision of any material law or any material governmental rule or
regulation applicable to Company, any Borrower or any Guarantor, the
Organizational Documents of Company, any Borrower or any Guarantor, or any
order, judgment or decree of any court or other agency of government binding on
Company, any Borrower or any Guarantor, (ii) conflict with, result in a
material breach of or constitute (with due notice or lapse of time or both) a
material default under any Contractual Obligation of Company, any Borrower or
any Guarantor, (iii) result in or require the creation or imposition of
any Lien under any such Contractual Obligation upon any of the properties or
assets of Company, any Borrower or any Guarantor (other than any Liens created
under any of the Loan Documents).

 

C.            Governmental Consents.  The execution and delivery by Company, each
Borrower and the Guarantor of this Amendment does not and will not require any
registration with, consent or approval of, or notice to, or other action to,
with or by, any federal, state or other governmental authority or regulatory
body except any thereof that have been obtained and are in full force and
effect.

 

3

 

D.            Incorporation of Representations.  Each representation
and warranty of Company, each Borrower and each Guarantor contained in each of
the Loan Documents is true and correct in all material respects on and as of
the Amendment Effective Date to the same extent as though made on and as of the
Amendment Effective Date except to the extent such representations and
warranties relate to an earlier date, in which case they were true and correct
in all material respects as of such earlier date.

 

E.             Absence of Default.  No event has occurred and is continuing or
would result from the execution, delivery or performance of this Amendment that
constitutes or would constitute an Event of Default or a Potential Event of
Default after giving effect to this Amendment.

 

F.             Acknowledgment and Consent.  Each of Company, each Borrower and each
Guarantor signatory hereto (each individually a “Guarantor”
and collectively, the “Guarantors”)
has read this Amendment and consents to the terms hereof and further hereby
confirms and agrees that, notwithstanding the effectiveness of this Amendment,
the obligations of such Guarantor under each of the Loan Documents to which
such Guarantor is a party shall not be impaired and each of the Loan Documents
to which such Guarantor is a party is, and shall continue to be, in full force
and effect and are hereby confirmed and ratified in all respects.

 

Section 5.              MISCELLANEOUS

 

A.            Reference to and Effect on the Credit Agreement and the Other
Loan Documents.

 

(i)            On
and after the Amendment Effective Date, each reference in the Credit Agreement
to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import
referring to the Credit Agreement, and each reference in 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.

 

(ii)           Except
as specifically amended by this Amendment, the Credit Agreement and the other
Loan Documents shall remain in full force and effect and are hereby ratified
and confirmed.

 

(iii)          The
execution, delivery and performance of this Amendment shall not, except as
expressly provided herein, constitute a waiver of any provision of, or operate
as a waiver of any right, power or remedy of Administrative Agent, Collateral
Agent, or any Lender under the Credit Agreement or any of the other Loan
Documents.

 

B.            Fees and Expenses.  Loan Parties acknowledge that all reasonable
costs, fees and expenses as described in subsection 10.3 of the Credit
Agreement incurred by the Administrative Agent and its counsel with respect to
this Amendment and the documents and transactions contemplated hereby shall be
for the account of Loan Parties.

 

4

 

C.            Headings.  Section and subsection headings in this
Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose or be given any
substantive effect.

 

D.            Applicable Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS
LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

 

E.             Counterparts.  This Amendment may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each
of which when so executed and delivered shall be deemed an original, but all
such counterparts together shall constitute but one and the same instrument;
signature pages maybe detached from multiple separate counterparts and
attached to a single counterpart so that all signature pages are
physically attached to the same document.

 

[remainder of page intentionally
left blank]

 

5

 

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

 

 

	
   

  	
  OWENS-ILLINOIS GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  OWENS-BROCKWAY GLASS CONTAINER INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ACI OPERATIONS PTY LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  O-I CANADA CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Vice President

  

 

 

	
   

  	
  OI EUROPEAN GROUP B.V.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  O-I EUROPE SARL

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  OWENS-ILLINOIS GENERAL INC., as Borrowers’ Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James W. Baehren

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  On behalf of each entity on the attached Exhibit A,
  in the capacity set forth for such entity opposite its name

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James W. Baehren

  
	
   

  	
  Name:

  	
  James
  W. Baehren

  

 

 

Exhibit A

 

	
  Names
  of Guarantors

  	
   

  	
  Title of Officer Executing on

  Behalf of Such Guarantor

  
	
  ACI
  America Holdings Inc.

  	
   

  	
  Vice
  President

  
	
  Brockway
  Realty Corporation

  	
   

  	
  Vice
  President

  
	
  NHW
  Auburn, LLC

  	
   

  	
  Senior
  Vice President of Owens-Brockway Glass Container Inc., as sole member of NHW
  Auburn, LLC

  
	
  OI
  Auburn Inc.

  	
   

  	
  Vice
  President

  
	
  Ol
  Australia Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  California Containers Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  Castalia STS Inc.

  	
   

  	
  President

  
	
  OI
  General Finance Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  General FTS Inc.

  	
   

  	
  Vice
  President

  
	
  O-I
  Holding LLC

  	
   

  	
  Vice
  President of OI International Holdings Inc., as sole member of O-I Holding
  LLC

  
	
  OI
  International Holdings Inc.

  	
   

  	
  Vice
  President

  
	
  OI
  Levis Park STS Inc.

  	
   

  	
  President

  
	
  OI Puerto Rico STS Inc.

  	
   

  	
  Vice
  President

  
	
  OIB
  Produvisa Inc.

  	
   

  	
  Vice
  President

  
	
  Owens-Brockway
  Packaging, Inc.

  	
   

  	
  Vice
  President

  
	
  Owens-Illinois
  General Inc.

  	
   

  	
  Vice
  President

  
	
  Seagate
  II, Inc.

  	
   

  	
  Vice
  President

  
	
  Seagate
  III, Inc.

  	
   

  	
  Vice
  President

  
	
  Seagate, Inc.

  	
   

  	
  Vice
  President

  
	
  Universal
  Materials, Inc.

  	
   

  	
  Vice
  President

  

 

 

	
   

  	
  DEUTSCHE
  BANK AG NEW YORK BRANCH, 

  as Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Paul O’Leary

  
	
   

  	
  Name:

  	
  Paul
  O’Leary

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Evelyn Thierry

  
	
   

  	
  Name:

  	
  Evelyn
  Thierry

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DEUTSCHE
  BANK TRUST COMPANY

  AMERICAS, as Collateral Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Paul O’Leary

  
	
   

  	
  Name:

  	
  Paul
  O’Leary

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Evelyn Thierry

  
	
   

  	
  Name:

  	
  Evelyn
  Thierry

  
	
   

  	
  Title:

  	
  Director

  

 

 

	
  LENDER:

  	
  Bank
  of America, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  W. Thomas Barnett

  
	
   

  	
  Name:

  	
  W.
  Thomas Barnett

  
	
   

  	
  Title:

  	
  Senior
  Vice President

  

 

 

	
  LENDER:

  	
  THE
  BANK OF NOVA SCOTIA

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Paula Czach

  
	
   

  	
  Name:

  	
  Paula
  Czach

  
	
   

  	
  Title:

  	
  Director

  

 

 

	
  LENDER:

  	
  BARCLAYS
  BANK PLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Kevin Cullen

  
	
   

  	
  Name:

  	
  Kevin
  Cullen

  
	
   

  	
  Title:

  	
  Director

  

 

 

	
  LENDER:

  	
  BNP
  PARIBAS

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Richard Pace

  
	
   

  	
  Name:

  	
  Richard
  Pace

  
	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Michael A. Kowalczuk

  
	
   

  	
  Name:

  	
  Michael
  A. Kowalczuk

  
	
   

  	
  Title:

  	
  Director

  

 

 

	
  LENDER:

  	
  Citibank,
  N.A., Canadian branch

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Niyousha Zarinpour

  
	
   

  	
  Name:

  	
  Niyousha
  Zarinpour

  
	
   

  	
  Title:

  	
  Authorized
  Signer

  

 

 

	
  LENDER:

  	
  Citibank,
  N.A., Sydney

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jeffrey Stern

  
	
   

  	
  Name:

  	
  Jeffrey
  Stern

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
  LENDER:

  	
  CITICORP
  NORTH AMERICA INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  George Van

  
	
   

  	
  Name:

  	
  George
  Van

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
  LENDER:

  	
  COOPERATIEVE
  CENTRALLE RAIFFEISEN-BOERENLEENBANK B.A., “RABOBANK NEDERLAND” NEW YORK
  BRANCH

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Andrew Sherman

  
	
   

  	
  Name:

  	
  Andrew
  Sherman

  
	
   

  	
  Title:

  	
  Executive
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Peter Glawe

  
	
   

  	
  Name:

  	
  Peter
  Glawe

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
  LENDER:

  	
  CREDIT
  AGRICOLE CORPORATE AND INVESTMENT BANK

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  David Cagle

  
	
   

  	
  Name:

  	
  David
  Cagle

  
	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Brian Myers

  
	
   

  	
  Name:

  	
  Brian
  Myers

  
	
   

  	
  Title:

  	
  Managing
  Director

  

 

 

	
  LENDER:

  	
  CREDIT
  SUISSE AG, Cayman Islands Branch

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Karl Studer

  
	
   

  	
  Name:

  	
  Karl
  Studer

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Jay Chall

  
	
   

  	
  Name:

  	
  Jay
  Chall

  
	
   

  	
  Title:

  	
  Director

  

 

 

	
  LENDER:

  	
  DEUTSCHE
  BANK AG NEW YORK BRANCH

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Enrique Landaeta

  
	
   

  	
  Name:

  	
  Enrique
  Landaeta

  
	
   

  	
  Title:

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Ekin Mocrinem

  
	
   

  	
  Name:

  	
  Ekin
  Mocrinem

  
	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
  LENDER:

  	
  HSBC
  Bank USA, National Association

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  David A. Mandell

  
	
   

  	
  Name:

  	
  David
  A. Mandell

  
	
   

  	
  Title:

  	
  Managing
  Director

  

 

 

 

	
  LENDER:

  	
   

  	
  JPMorgan
  Chase Bank, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Robert S. Sheppard

  
	
   

  	
   

  	
  Name:

  	
  Robert
  S. Sheppard

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

 

	
  LENDER:

  	
   

  	
  Lehman
  Commercial Paper Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Ahuva Schwager

  
	
   

  	
   

  	
  Name:

  	
  Ahuva
  Schwager

  
	
   

  	
   

  	
  Title:

  	
  Authorized
  Signatory

  

 

 

	
  LENDER:

  	
   

  	
  MORGAN
  STANLEY BANK, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Ryan Vetsch

  
	
   

  	
   

  	
  Name:

  	
  Ryan
  Vetsch

  
	
   

  	
   

  	
  Title:

  	
  Authorized
  Signatory

  

 

 

	
  LENDER:

  	
   

  	
  MORGAN
  STANLEY SENIOR FUNDING, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Thomas E. Doster, IV

  
	
   

  	
   

  	
  Name:

  	
  Thomas
  E. Doster, IV

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  

 

 

	
  LENDER:

  	
   

  	
  WELLS
  CAPITAL MANAGEMENT

  
	
   

  	
   

  	
  ACCT#
  13923601

  
	
   

  	
   

  	
  WELLS
  CAPITAL MANAGEMENT

  
	
   

  	
   

  	
  ACCT#
  18866500

  
	
   

  	
   

  	
  SILVERADO
  CLO 2006-I, LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Gilbert L. Southwell III

  
	
   

  	
   

  	
  Name:

  	
  Gilbert
  L. Southwell III

  
	
   

  	
   

  	
  Title:

  	
  Vice
  PresidentExhibit 10.26

 

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

This
THIRD Amendment to AMENDED AND RESTATED CREDIT AGREEMENT (the “Amendment”) is
made and entered into as of March 22, 2010, by and between BANK OF THE
WEST (the “Bank”) and GUIDANCE SOFTWARE, INC. (the “Borrower”) with respect to
the following:

 

This
Amendment shall be deemed to be a part of and subject to that certain AMENDED
AND RESTATED CREDIT AGREEMENT dated as of May 1, 2007, as it may be
amended from time to time, and any and all addenda and riders thereto (collectively
the “Agreement”). Unless otherwise defined herein, all terms used in this
Amendment shall have the same meanings as in the Agreement. To the extent that
any of the terms or provisions of this Amendment conflict with those contained
in the Agreement, the terms and provisions contained herein shall control.

 

WHEREAS,
the Borrower and the Bank mutually desire to extend and/or modify the
Agreement.

 

NOW
THEREFORE, for value received and hereby acknowledged, the Borrower and the
Bank agree as follows:

 

1.                                       Extension
of Expiration Date. The Expiration Date provided for in Section 1.1.9
of the Agreement shall be extended to May 31, 2012.

 

2.                                       Modification
of Financial Condition. Effective with the date of this Amendment, Section 6.2
(ii) is hereby modified to read as follows:

 

(ii)                                  Not allow a
cumulative year to date net loss (excluding non-cash shareholder compensation
expense) in excess of $5,000,000.00 during any one fiscal year.

 

5.                                       Representations
and Warranties. The Borrower hereby reaffirms the representations
and warranties contained in the Agreement and represents that no event, which
with notice or lapse of time, could become an Event of Default, has occurred or
is continuing.

 

6.                                       Confirmation
of Other Terms and Conditions of the Agreement. Except as specifically
provided in this Amendment, all other terms, conditions and covenants of the
Agreement unaffected by this Amendment shall remain unchanged and shall
continue in full force and effect and the Borrower hereby covenants and agrees
to perform and observe all terms, covenants and agreements provided for in the
Agreement, as hereby amended.

 

7.                                       Governing
Law. This Amendment shall be governed and construed in accordance with the
laws of the State of California to which jurisdiction the parties hereto hereby
consent and submit.

 

8.                                       Counterparts. This Amendment
may be executed in one or more counterparts, each of which shall be deemed an
original and all of which together shall constitute one and the same
instrument.

 

1

 

IN
WITNESS WHEREOF, this Amendment has been executed by the parties hereto as of
the date first hereinabove written.

 

	
  BANK:

  	
   

  	
  BORROWER:

  
	
   

  	
   

  	
   

  
	
  BANK
  OF THE WEST

  	
   

  	
  GUIDANCE
  SOFTWARE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BY:

  	
  /s/
  David Alterman

  	
   

  	
  BY:

  	
  /s/
  Victor Limongelli

  
	
  NAME:

  	
  David
  Alterman, Vice President

  	
   

  	
  NAME:

  	
  Victor
  Limongelli, President and CEO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ADDRESS:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  215
  North Marengo Avenue

  
	
   

  	
   

  	
   

  	
   

  	
  Pasadena,
  CA 91101

  
						

 

2

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