Document:

Exhibit 10.1

HICKORYTECH CORPORATION

1993 STOCK AWARD PLAN

(Amended and Restated September 26, 2001)

 

HICKORYTECH CORPORATION 1993 STOCK AWARD PLAN

(Amended and Restated Effective September 26, 2001)

1.            Purpose.  The purpose of the HickoryTech Corporation 1993 Stock Award Plan (the "Plan") is to motivate key employees of HickoryTech Corporation (the "Company") and its subsidiaries to produce a superior return to the shareholders of the Company by offering such employees an opportunity to acquire a proprietary interest in the Company and thereby develop a stronger incentive to put forth maximum effort for the continued success and growth of the Company and its subsidiaries.  The Plan is also intended to facilitate recruiting and retaining key personnel of outstanding ability by providing such an acquisition opportunity.

2.            Definitions.

2.1            The terms defined in this section are used (and capitalized) elsewhere in the Plan.

		a.	"Agreement" means a written contract entered into between the Company and a Participant containing the terms and conditions of an Award in such form and not inconsistent with this Plan as the Committee (as defined in Section 3.1) shall approve from time to time, together with all amendments thereto, which amendments may be unilaterally made by the Company (with the approval of the Committee) unless such amendments are deemed by the Committee to be materially adverse to the Participant and are not required as a matter of law.

		b.	"Award" means a grant made under this Plan in the form of Stock or options.

	
c.

	
An "Event" shall be deemed to have occurred with respect to a Participant if:

	
(i)

	
a majority of the Directors of the Company shall be persons other than persons:

	
(a)

	
for whose election proxies shall have been solicited for the Board of Directors of the Company (the "Board"); or

	
(b)

	
who are then serving as Directors and who were initially appointed or elected by the Board of Directors to fill vacancies on the Board of Directors caused by death or resignation (but not by removal) or to fill newly-created directorships created by the Board of Directors;

provided, however, that a person shall not be deemed to be a director subject to clause (1) or (2), above, if his or her initial assumption of office occurs as a result of an actual or threatened election contest with respect to the threatened election or removal of directors (or other actual or threatened solicitation of proxies or consents) by or on behalf of any person other than the Board of Directors of the Company; or

	
(ii)

	
30% or more of the outstanding voting stock of the Company or all or substantially all of the assets or stock of the Company is acquired or beneficially owned (as defined in Rule 13d-3 under the Securities and 

 

	
 

	
Exchange Act of 1934, as amended, or any successor rule thereto), directly or indirectly, by any Person (other than by the Company, a subsidiary of the Company, an employee benefit plan (or related trust) sponsored or maintained by the Company or one or more of its subsidiaries, or by the Participant or a group of persons, including the Participant, acting in concert) or group of Persons, acting in concert, whether by acquisition of assets, merger, consolidation, statutory share exchange (other than a merger, consolidation or statutory share exchange described in clause (c)(i) or (ii), below), tender offer, exchange offer, or otherwise;

	
(iii)

	
The Company is merged into or consolidated with another corporation (other than a subsidiary of the Company) or a statutory share exchange for the Company's outstanding voting stock of any class is consummated unless (i) a majority of the voting power of the voting stock of the surviving corporation is, immediately following the merger, consolidation or statutory share exchange, beneficially owned, directly or indirectly, by the Participant (or a group of Persons, including the Participant, acting in concert) or (ii) immediately following the merger, consolidation or statutory share exchange, more than 70% of the voting power of the voting stock of the surviving corporation is beneficially owned, directly or indirectly, by the persons who beneficially owned voting stock of the Company immediately prior to such merger, consolidation or statutory share exchange in substantially the same proportion as their ownership of the voting stock of the Company immediately prior to such merger, consolidation or statutory share exchange; or

		(iv)	The shareholders of the Company approve the complete liquidation or dissolution of the Company

		d.	"Fair Market Value" as of any date shall mean an average of the closing price per Share of Common Stock, no par value (a"Share"), of the Company on each of the five business days immediately preceding the date on which a price determination is to be made.  The closing prices shall be the closing prices as published in The Wall Street Journal.  In the absence of trading in the Shares on any of the five immediately preceding business days, the calculation will be based on the closing price for the five business days preceding the date on which a price determination is to be made on which there were actual trades of the Shares.

		e.	"Participant" means an employee to whom an Award is made.

		f.	"Restricted Stock" means Shares granted under Section 7 so long as such Shares remain subject to restrictions.

		g.	"Successor" means the legal representative of the estate of a deceased Participant or the person or persons who may, by request or inheritance, or pursuant to the terms of an Award or of forms submitted by the Participant to the Committee pursuant to Section 18, acquire the right to exercise an option or to receive Shares issuable in satisfaction of an Award in the event of a Participant's death.

 

2.2            Gender and Number.  Except when otherwise indicated by context, reference to the masculine gender shall include, when used, the feminine gender, and any term used in the singular shall also include the plural.

3.            Administration.

3.1            Authority of Committee.  The Plan shall be administered by a committee of two or more persons (the "Committee") appointed by the Board.  No person shall serve as a member of the Committee unless such person shall be a "Non-Employee Director" as that term is defined in Rule 16b-3(b)(3)(i), promulgated under the Exchange Act, or any successor statute or regulation comprehending the same subject matter.  A majority of the members of the Committee shall constitute a quorum for any meeting of the Committee and the acts of a majority of the members present at any meeting at which a quorum is present or the acts unanimously approved in writing by all members of the Committee shall be the acts of the Committee.  Subject to the provisions of the Plan, the Committee may from time to time adopt such rules for the administration of this Plan as it deems appropriate.

3.2            Indemnification.  To the full extent permitted by law, (i) no member of the Committee shall be liable for any action or determination taken or made in good faith with respect to the Plan or any Award made under the Plan, and (ii) the members of the Committee shall be entitled to indemnification by the Company with regard to such actions and determinations.

4.            Shares Available Under the Plan.  The number of Shares available for distribution under the Plan shall not exceed 1,750,000 (subject to adjustment pursuant to Section 13).  Any Shares subject to the terms and conditions of an Award under the Plan which are not used because the terms and conditions of the Award are not met may again be used for an Award under the Plan.

5.            Eligibility.  Participation in the Plan shall be available to all employees of the Company and its subsidiaries.

6.            General Terms of Awards.

		a.	Amount of Award.  Each Agreement shall set forth the number of Shares of  Stock or the number of Shares to which the option subject to such Agreement applies, as the case may be.

		b.	Term.  Each Agreement shall set forth the term of the option or Stock Award, as the case may be.  Subject to the requirements of the Plan, an Agreement may permit an acceleration of the expiration of the applicable term upon such terms and conditions as shall be set forth in the Agreement.

		c.	Transferability.  During the lifetime of a Participant to whom an Award is granted, only such Participant (or such Participant's legal representative) may exercise an option.  No Award of  Stock (prior to the expiration of any restrictions) or option may be sold, assigned, transferred, exchanged or otherwise encumbered, and any attempt to do so shall be of no effect.  Notwithstanding the immediately preceding sentence, an Agreement may provide that the Award subject to the Agreement shall be transferable to a Successor in the event of a Participant's death.

 

		d.	Termination of Employment.  No option may be exercised by a Participant and all Restricted Stock held by a Participant shall be forfeited if the Participant's employment with the Company or its subsidiaries shall be voluntarily terminated or involuntarily terminated with or without cause prior to the expiration of the term of the option or the Restricted Stock, as the case may be except as, and to the extent, provided in the Agreement applicable to that Award.  An option may be exercised by the Successor of a Participant following the death of such Participant to the extent, and during the period of time, if any, provided in the applicable Agreement.

7.            Stock Awards.

7.1            Restricted Stock Awards.  An Award of Restricted Stock under the Plan shall consist of Shares subject to restrictions on transfer and conditions of forfeiture, which restrictions and conditions shall be included in the applicable Agreement.  Except as otherwise provided in the applicable Agreement, each certificate representing shares issued in respect to an Award of Restricted Stock shall either be deposited with the Company or its designee, together with an assignment separate from such certificate, in blank, signed by the participant, or bear such legends with respect to the restricted nature of the Restricted Stock evidenced thereby as shall be provided in the applicable Agreement.  The agreement shall describe terms and conditions by which the restrictions upon awarded Restricted Stock shall lapse.  Upon the lapse of the restrictions, Shares free of restrictive legends, if any, relating to such restrictions shall be issued to the Participant or his Successor.  A Participant with a Restricted Stock Award shall have all the other rights of a shareholder including, but not limited to the right to receive dividends and the right to vote the Shares of Restricted Stock.

7.2            Unrestricted Stock Awards.  Notwithstanding any other provision of the Plan, the Company may issue Shares directly to employees of the Company as part of any compensation arrangement.  Shares so issued need not be subject to an Agreement or to the provisions of Sections 6, 7.1, 14, 15, 16 or 18 hereof, but unless otherwise specified by the Committee, such Shares shall be subject to the provisions of Sections 6, 7.1, 14, 15, 16 or 18.  The certificate for any such Shares shall contain a restrictive legend to the extent of any applicable restriction.

7.3            Executive Incentive Plan.  Notwithstanding any other provision of the Plan, the Company may issue Shares to the Trustee referred to in the Company's Executive Incentive Plan, as it may be amended from time to time.  Shares so issued need not be subject to an Agreement and shall not be subject to the provisions of Sections 6, 7.1, 14, 15, 16 or 18 hereof, but instead shall be governed by the provisions of the Executive Incentive Plan.

8.            Stock Options.

8.1            Terms of All Options.  An option shall be granted pursuant to an Agreement as either an Incentive Stock Option (as that term is defined in Section 422 of the Internal Revenue Code or any amendment thereto ("the Code") or a Non-Qualified Stock Option (an option granted under the Plan that is not intended to be an Incentive Stock Option).  The purchase price of each Share subject to an option shall be determined by the Committee and set forth in the Agreement, but shall not be less than 100% of the Fair Market Value of a Share as of the date the option is granted.  The purchase price of the Shares with respect to which an Option is exercised 

 

shall be payable in full at the time of exercise.  The purchase price may be payable in cash, in Shares having a Fair Market Value equal to the purchase price of the Shares being purchased pursuant to the option as of the date the option is exercised, or a combination thereof, as determined by the Committee and provided in the Agreement.  Each option shall be exercisable in whole or in part on the terms provided in the Agreement.  In no event shall any option be exercisable at any time after its expiration date.  When an option is no longer exercisable, it shall be deemed to have lapsed or terminated.

8.2            Incentive Stock Options. In addition to the other terms and conditions applicable to all options.

	
(i)

	
The aggregate Fair Market Value (determined as of the date the option is granted) of the Shares with respect to which Incentive Stock Options held by an individual first become exercisable in any calendar year (under this Plan and all other incentive stock option plans of the Company) shall not exceed $100,000 (or such other limit as may be required by the Code) if such limitation is necessary to qualify the option as an Incentive Stock Option;

		(ii)	An Incentive Stock Option shall not be exercisable more than ten years after the date of grant (or such other limit as may be required by the Code) if such limitation is necessary to qualify the option as an Incentive Stock Option;

 

		(iii)	At the time the Incentive Stock Option is granted, if the eligible employee owns stock of the Company possessing more than ten percent of the total combined voting power of all classes of stock therein, (A) the purchase price of each Share covered by the option shall not be less than 110% of the Fair Market Value of a Share on the date of grant, and (B) the term of the option shall not be greater than five years from the date of grant;

 

		(iv)	The Participant must remain continuously employed by the Company and/or its subsidiaries from the date of grant until the effective date of exercise unless such exercise occurs within the period, if any, allowed following termination of employment by the Code and by the Agreement; and

		(v)	The Agreement covering an Incentive Stock Option shall contain such other terms and provisions which the Committee determines necessary to qualify such option as an Incentive Stock Option.

If any option is not granted, exercised or held in accordance with the provisions set forth above in this Section 8.2, it will be considered to be a Non-Qualified Stock Option to the extent that it is in conflict with these provisions.

9.            Duration of The Plan.  The Plan shall remain in effect until all Shares of Common Stock subject to it shall have been distributed or until all Awards have expired or lapsed, or the Plan is terminated pursuant to Section 13.  The date and time of approval by the Committee of the granting of an Award shall be considered the date and time at which such Award is made or granted.

 

10.            Right to Terminate Employment.  Nothing in the Plan shall confer upon any Participant the right to continue in the employment of the Company or any subsidiary or affect any right which the Company or any subsidiary may have to terminate the employment of the Participant with or without cause.

11.            Tax Withholding.  The Company shall have the right to require a Participant or other person receiving Shares under the Plan to pay the Company a cash amount sufficient to cover any required withholding taxes.  In lieu of all or any part of such a cash payment from a person receiving Shares under the Plan, the Committee may permit the individual to elect to cover all or any part of the required withholdings, and to cover any additional withholdings up to the amount needed to cover the individual's full FICA, federal, state, and local income tax with respect to income arising from payment of the Award, through a reduction of the number of Shares delivered to him or a subsequent return to the Company of Shares held by the Participant in each case valued in the same manner as used in computing the withholding taxes under the applicable laws.

12.            Amendment, Modification and Termination of Plan.  The Board may at any time terminate, suspend or modify the Plan.  Amendments are subject to approval of the shareholders of the Company only if such approval is necessary to maintain the Plan in compliance with the requirements of Exchange Act Rule 16b-3 Internal Revenue Code Section 422, its successor provisions or any other applicable law or regulation.  No termination, suspension or modification of the Plan will materially and adversely affect any right acquired by any Participant (or his legal representative) or any Successor under an Award granted before the date of termination, suspension or modification, unless otherwise agreed to by the Participant in the Agreement or otherwise or required as a matter of law; but it will be conclusively presumed that any adjustment for changes in capitalization provided for in Section 13 will not adversely affect any right.

13.            Adjustment for Changes in Capitalization.  Subject to Section 14, appropriate adjustments in the aggregate number and type of Shares available for Awards under the Plan and in the number and type of Shares subject to Awards then outstanding and in the option price as to any outstanding options may be made by the Committee in its sole discretion to give effect to adjustments made in the number and type of Shares of the Company through a dissolution or liquidation of the Company, a sale of substantially all of the assets of the Company, a merger or consolidation of the Company with or into any other corporation, regardless of whether the Company is the surviving corporation, or a statutory share exchange involving capital stock of the Company (each of the foregoing a "Fundamental Change"), recapitalization, reclassification, stock dividend, stock split, stock combination or other relevant change, provided that fractional Shares shall be rounded to the nearest whole share.

14.            Fundamental Change.  In the event of a proposed Fundamental Change, the Committee may, but shall not be obligated to:

	               a.	If the Fundamental Change is a merger or consolidation or statutory share exchange, make appropriate provision for the protection of the outstanding options granted under the Plan by the substitution, in lieu of such options, of options to purchase appropriate voting common stock (the "Survivor's Stock") of the corporation surviving any merger or consolidation or, if appropriate, the

 

	           	parent corporation of the Company or such surviving corporation, or, alternatively, by the delivery of a number of shares of the Survivor's Stock which has a Fair Market Value as of the effective date of the Fundamental Change equal to the product of (i) the amount by which the Event Proceeds per Share (as defined in 14(b) below) exceeds the option price per share times (ii) the number of Shares covered by the option, or

	               b.	At least ten days prior to the actual effective date of a Fundamental Change, declare, and provide written notice to each optionee of the declaration, that each outstanding option, whether or not then exercisable, shall be canceled at the time of, or immediately prior to the occurrence of the Fundamental Change (unless it shall have been exercised prior to the occurrence of the Fundamental Change) in exchange for payment to each option holder, within ten days after the Fundamental Change, of cash equal to the amount (if any), for each Share covered by the canceled option, by which the Event Proceeds per Share (as hereinafter defined) exceeds the exercise price per Share covered by such option.  At the time of the declaration provided for in the immediately preceding sentence, each option shall immediately become exercisable in full and each person holding an option shall have the right, during the period preceding the time of cancellation of the option, to exercise his option as to all or any part of the Shares covered thereby.  In the event of a declaration pursuant to this Section 14b, each outstanding option granted pursuant to the Plan, that shall not have been exercised prior to the Fundamental Change, shall be canceled at the time of, or immediately prior to, the Fundamental Change as provided in the declaration, and the Plan shall terminate at the time of such cancellation, subject to the payment of obligations of the Company provided in this Section 14b.  For purposes of this Section 14b, "Event Proceeds" per Share shall mean the cash plus the Fair Market Value, as determined in good faith by the Committee, of the non-cash consideration to be received per Share by the shareholders of the Company upon the occurrence of  the Fundamental Change.

15.            Acceleration.  Upon the Occurrence of an Event (i) an option held by a Participant under this Plan that shall not have expired shall become immediately exercisable in full, and (ii) all restrictions applicable to outstanding Restricted Stock Awards shall be deemed to have immediately lapsed.

16.            Repurchase Rights of the Company.

16.1            Termination of Employment.  If, for any reason, an employee who has received Shares pursuant to an Award granted hereunder ("Awarded Shares") ceases to be employed by the Company or a subsidiary, such employee (or his legal representative or beneficiaries if the employee is deceased or mentally incapacitated) shall offer such Awarded Shares (including any Shares purchased subsequent to termination pursuant to the applicable Agreement) for sale to the Company on the date that such employee ceases to be employed by the Company and/or a subsidiary or on the date immediately after exercise of an Award permitted by the applicable Agreement subsequent to termination.

16.2            Right of First Refusal.  In the event that any employee who has received Awarded Shares desires to sell, transfer, exchange or otherwise dispose of (whether by gift or otherwise), or pledge or otherwise encumber, all or any part of such Awarded Shares, he shall first offer such Shares for sale to the Company.

16.3            Involuntary Transfer.  In the event of any involuntary transfer of all or any part of the Awarded Shares by reason of sale pursuant to a levy of execution, foreclosure of pledge, garnishment, attachment, transfer pursuant to a divorce decree or other legal process, the transferee or transferees of such acquired Shares or other successor in title to such Shares shall offer such Shares for sale to the Company.

16.4            Terms of Company Purchase.  All offers under this Section 16 shall be made to the Company at its registered office.  With respect to a proposed transfer under Subsection 16.2 above, the notice shall contain the name and address of each person to whom the employee (or his legal representative of beneficiaries) intends to dispose of or encumber all or any part of the Awarded Shares and the price and other terms and conditions of the proposed transfer or encumbrance.  In addition, prior to the purchase of Awarded Shares under Subsection 16.2 above, the Company may require evidence of a bona fide offer to purchase or take a security interest in such Shares.  After receipt of any such written offer under this Section 16, the Company shall have the option for a period of sixty (60) days thereafter to purchase, at the price and on the terms specified below, all but not less than all of the Shares offered to it by accepting such offer in writing; provided however, that notwithstanding anything to the contrary stated below, if the employee (or his legal representative or beneficiaries) is offering such Shares under Subsection 16.2 above, the Company may instead elect to purchase such Shares at the price and on the terms and conditions of the intended sale, exchange or encumbrance as stated in the employee's (or his legal representative's or beneficiaries') offer, for which purpose the price of any Shares which the employee (or his legal representative or beneficiaries) intends to encumber shall be the Fair Market Value of the property to be received upon the security of such Shares (as determined in good faith by the Committee); and provided further, that notwithstanding anything to the contrary provided below, the Company may elect to purchase Shares being offered by a transferee or successor in title to such Shares under Subsection 16.3 above on the terms and conditions under which such Shares were acquired by the transferee or successor in title to the Shares.

The exercise of any option by the Company pursuant to this Section 16 shall be by the Company mailing written notice of such exercise to the employee whose Shares are subject to such option or his legal representative or beneficiaries, as the case may be, within the applicable 60-day period.  Notice to the employee shall be addressed to employee's last known address appearing in the personnel records of the Company, and notice to the employee's legal representative or beneficiaries shall be addressed to the last known address of such legal representative or beneficiaries or, if none is known, to the employee's last known address.

Subject to the alternative purchase prices provided for above, the purchase price of Awarded Shares purchased pursuant to this Section 16 shall be the Fair Market Value of such Shares.

The Company, at its option, may elect to pay the entire purchase price for any shares subject to purchase pursuant to this Section 16 in cash or to make payment in installments by 

 

delivery of a promissory note of the Company, subordinated to all indebtedness of the Company for money borrowed, payable in three equal annual installments, commencing on the date of tender as provided below, and bearing interest at the rate of ten percent per annum, with optional prepayment, in whole or in part, by the Company without penalty, at any time.

Within fifteen days after the Company gives notice of exercise of its option as provided above in this Section 16, the Company shall tender to the employee, legal representative or beneficiary or other offeror, as the case may be, the purchase price for such Shares in cash or as otherwise provided above.  Simultaneously with the payment of said purchase price, the employee, legal representative, beneficiary or other offeror shall deliver the certificate or certificates representing such Shares to the Company, duly endorsed in blank for transfer of record upon the books of the Company (accompanied in the case of purchase from a legal representative or beneficiary by a duly certified copy of authority), and all assignments and other documents of transfer and release reasonably required by the Company to effect the transfer  of the Shares to the Company free and clear of any liens, encumbrances or other defects of title.

In the event that the Company does not exercise any option granted to the Company pursuant to Subsection 16.2 above, the selling employee may dispose of the Shares not purchased pursuant to the exercise of such option without regard to the provisions of this Section 16, but only (a) during a period of 30 days following the Company's 60-day option period, (b) to the persons or entities listed in the offer to the Company, and (c) at a price and upon terms not less advantageous to the selling employee than the price and terms stated in the offer to the Company.  If the disposition is not consummated within such 30-day period, such Shares shall again be subject to all the requirements of this Section 16.

16.5            Written Consent to Agreement.  No sale, transfer, assignment, exchange or other disposition of Awarded Shares shall be made by any employee or his legal representative or beneficiaries to any person (including any individual, partnership, corporation or other entity) unless and until such person shall agree in writing to take such Shares subject to, and shall subscribe to the terms and conditions of, this Section 16.  Any person who agrees in writing to take Shares subject to, and subscribes to the terms and conditions of, this Section 16 shall be and become entitled to the benefits of, and shall be bound by, this Section 16.

17.            Other Benefit and Compensation Programs.  Payments and other benefits received by a Participant under an Award made pursuant to the Plan shall not be deemed a part of a Participant's regular, recurring compensation for purposes of the termination, indemnity or severance pay law of any country and shall not be included in, nor have any effect on, the determination of benefits under any other employee benefit plan, contract or similar arrangement provided by the Company or a subsidiary unless expressly so provided by such other plan, contract or arrangement, or unless the Committee expressly determines that an Award or portion of an Award should be included to accurately reflect competitive compensation practices or to recognize that an Award has been made in lieu of a portion of competitive cash compensation.

18.            Beneficiary Upon Participant's Death.  To the extent that the transfer of a Participant's Award at his death is permitted under an Agreement, (i) a Participant's Award shall be transferable at his death to the beneficiary, if any, designated on forms prescribed by and filed with the Committee and (ii) upon the death of the Participant, such beneficiary shall succeed to the rights of the Participant to the extent permitted by law.  If no such designation of a 

 

beneficiary has been made, the Participant's legal representative shall succeed to the Awards which shall be transferable by will or pursuant to laws of descent and distribution to the extent permitted under an Agreement.

19.            Governing Law.  To the extent that Federal laws do not otherwise control, the Plan and all determinations made and actions taken pursuant to the Plan shall be governed by the laws of Minnesota and construed accordingly.a50911397ex10_1.htm

Exhibit 10.1

 

EXECUTION VERSION

 

 

AMENDMENT NO. 1 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

 

Amendment No. 1 to Second Amended and Restated Credit Agreement dated as of June 26, 2014 (this “First Amendment”) among B/E AEROSPACE, INC., a Delaware corporation (the “Company”), JPMORGAN CHASE BANK, N.A., as administrative agent under the Credit Agreement referred to below (in such capacity, the “Administrative Agent”), the persons identified on the signature pages hereto as “Incremental Lenders” (collectively, the “Incremental Lenders”), and the Administrative Agent on behalf of the Lenders who have delivered a signature page hereto pursuant to Section 12.1 of the Amended Credit Agreement (as defined below).

 

The Company, the lenders from time to time party thereto (the “Lenders”), the Administrative Agent, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Royal Bank of Canada, SunTrust Bank, UBS Securities LLC and Wells Fargo Securities, LLC, as Syndication Agents, and Morgan Stanley MUFG Loan Partners, LLC, The Royal Bank of Scotland PLC and TD Bank, N.A., as Documentation Agents, are parties to that certain Second Amended and Restated Credit Agreement dated as of August 3, 2012 (as amended from time to time prior to the date hereof, the “Credit Agreement”, and as amended by this First Amendment as of the First Amendment Effective Date (as defined below), the “Amended Credit Agreement”; unless otherwise defined herein, capitalized terms defined in the Credit Agreement are used herein as therein defined).  Pursuant to Section 3.1 of the Credit Agreement, the Company has requested that the Incremental Lenders provide a Revolving Credit Commitment Increase under the Credit Agreement in an aggregate amount of $450,000,000.  In accordance with Section 3.3 of the Credit Agreement, each of the Incremental Lenders has elected to provide a Revolving Credit Commitment Increase on the terms and conditions set forth herein.

 

Pursuant to Section 12.1 of the Credit Agreement, the Company has also requested that the Lenders consent to certain amendments to the Credit Agreement as set forth herein, subject to the terms and conditions set forth herein, and the Required Lenders have so consented and authorized the Administrative Agent to execute this First Amendment on their behalf.

 

Accordingly, in accordance with Section 3.4 and Section 12.1 of the Credit Agreement, the Company, the Administrative Agent, the Incremental Lenders and the Required Lenders agree as follows:

 

ARTICLE I

INCREMENTAL COMMITMENT

 

Section 1.01   Incremental Commitments.  Each Incremental Lender hereby agrees to provide a new, or to increase its existing, Revolving Credit Commitment on the First Amendment Effective Date on the terms and conditions set forth herein by the amount set forth opposite its name on Annex I attached hereto (the “First Revolving Credit Commitment Increase”).  The First Revolving Credit Commitment Increase provided pursuant to this First Amendment is a Revolving Credit Commitment Increase (as defined in the Credit Agreement) and shall be subject to all of the terms and conditions set forth in the Amended Credit Agreement, including, without limitation, Article III; provided, that each Incremental Lender hereby waives the ten Business Day notice period (set forth in Section 3.3 of the Credit Agreement) which would otherwise be applicable to the Company’s request for the First Revolving Credit Commitment Increase.

 

  

  

  

 

 

 

ARTICLE II

AMENDMENTS TO THE CREDIT AGREEMENT

 

Section 2.01   Amendments to Effect Revolving Credit Commitment Increase.  The Credit Agreement is hereby amended as follows:

 

(a) Section 1.1 of the Credit Agreement is hereby amended by inserting the following definitions in the appropriate alphabetical order:

 

“First Amendment” means that certain Amendment No. 1 to Second Amended and Restated Credit Agreement dated as of June 26, 2014 among the Company, the Lenders party thereto and the Administrative Agent.

 

“First Amendment Effective Date” means the date on which the conditions precedent specified in Section 3.01 of the First Amendment are satisfied (or waived).

 

(b) The definition of “Commitments” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“Commitments” means the collective reference to the Revolving Credit Commitments, the Swing Line Commitments and the Incremental Commitments, if any; individually, a “Commitment”.  On the First Amendment Effective Date, the aggregate amount of the Revolving Credit Commitments is $1,400,000,000.  The aggregate amount of all Incremental Commitments made after the First Amendment Effective Date shall not exceed $300,000,000.

 

(c) The definition of “Documentation Agents” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“Documentation Agents” means, collectively, Barclays Bank PLC, Morgan Stanley MUFG Loan Partners, LLC, The Royal Bank of Scotland plc, TD Bank, N.A. and UBS Securities LLC, in their capacities as Documentation Agents with respect to the Commitments (each, a “Documentation Agent”).

 

(d) The definition of “Revolving Credit Commitment” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“Revolving Credit Commitment” means, as to any Lender, its obligations to make Revolving Credit Loans to the Company pursuant to Section 2.1, and to purchase its L/C Participating Interest in any Letter of Credit in an aggregate amount not to exceed at any time the amount set forth opposite such Lender’s name in Schedule 1A under the heading “Revolving Credit Commitment” and in an aggregate amount not to exceed at any time the amount equal to such Lender’s Revolving Credit Commitment Percentage of the aggregate Revolving Credit Commitments, as the aggregate Revolving Credit Commitments may be reduced or adjusted from time to time pursuant to this Amended Agreement; collectively, as to all the Lenders, the “Revolving Credit Commitments”.  On the First Amendment Effective Date, the aggregate amount of the Revolving Credit Commitments is $1,400,000,000.

 

(e) The definition of “Syndication Agents” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

  

- 2 -

  

 

“Syndication Agents” means, collectively, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Royal Bank of Canada, SunTrust Bank and Wells Fargo Securities, LLC, in their capacities as Syndication Agents with respect to the Commitments (each, a “Syndication Agent”).

 

(f) Section 3.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

Section 3.1   Requests for Incremental Loans.  Upon notice to the Administrative Agent (which shall promptly notify the Lenders) at any time after the Closing Date but prior to the date falling twelve months prior to the Revolving Credit Termination Date, the Company may request (i) term loan commitments (each an “Incremental Term Commitment” and all of them, collectively, the “Incremental Term Commitments”) and (ii) increases in the aggregate amount of Revolving Credit Commitments (each such increase, a “Revolving Credit Commitment Increase” and all of them, collectively, the “Revolving Credit Commitments Increases” and together with the Incremental Term Commitments, the “Incremental Commitments”); provided that (x) after giving effect to any Incremental Commitment, the aggregate amount of Incremental Commitments that have been added pursuant to this Section 3.1 after the First Amendment Effective Date shall not exceed $300,000,000, and (y) any such addition shall be in an aggregate amount of not less than $20,000,000 or any whole multiple of $5,000,000 in excess thereof.  Any loans made in respect of any such Revolving Credit Commitments Increase (the “Incremental Revolving Credit Loans”) shall be made by increasing the aggregate Revolving Credit Commitments with terms identical to those of the existing Revolving Credit Loans, except as otherwise provided in Section 3.2.  Any Loans made in respect of any Incremental Term Commitments (the “Incremental Term Loans” and, collectively with any Incremental Revolving Credit Loans, the “Incremental Loans”) shall be made by creating a new tranche of term loans under this Amended Agreement (an “Incremental Term Loan Tranche”).

 

(g) Section 11.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

Section 11.1   Appointment.  Each Lender hereby irrevocably designates and appoints Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Royal Bank of Canada, SunTrust Bank and Wells Fargo Securities, LLC as the Syndication Agents of such Lender under this Amended Agreement and acknowledges that the Syndication Agents, in their respective capacity as such, shall have no duties or liabilities under the Credit Documents.  Each Lender hereby irrevocably designates and appoints Barclays Bank PLC, Morgan Stanley MUFG Loan Partners, LLC, The Royal Bank of Scotland plc, TD Bank, N.A. and UBS Securities LLC as the Documentation Agents of such Lender under this Amended Agreement and acknowledges that the Documentation Agents, in their respective capacity as such, shall have no duties or liabilities under the Credit Documents.  Each Lender hereby irrevocably designates and appoints JPMCB as the Administrative Agent under this Amended Agreement and irrevocably authorizes JPMCB as Administrative Agent for such Lender to take such action on its behalf under the provisions of the Credit Documents and to exercise such powers and perform such duties as are expressly delegated to the Administrative Agent by the terms of the Credit Documents, together with such other powers as are reasonably incidental thereto.  Notwithstanding any provision to the contrary elsewhere in this Amended Agreement, none of the Agents shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into the Credit Documents or otherwise exist against any Agent.  The Borrower and each other Credit Party acknowledges and agrees that the Agents, the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower, the other Credit Parties and their respective Affiliates, and neither any Agent nor any Lender has any obligation to disclose any of such interests to the Borrower or any other Credit Party or any of their respective Affiliates.

 

  

- 3 -

  

 

(h) Schedule 1A to the Credit Agreement is hereby amended and restated in its entirety by Schedule 1A attached hereto.

 

Section 2.02   Other Amendments to Credit Agreement.

 

(a) Section 1.1 of the Credit Agreement is hereby amended by inserting the following definitions in the appropriate alphabetical order:

 

“BEA Logistics” means BEA Logistics Services LLC, a Delaware limited liability company.

 

(b) The definition of “Allowed Exclusion Amount” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“Allowed Exclusion Amount” means at any date an aggregate amount equal to the book value of that portion of Consolidated Total Domestic Assets which is owned by ATS, ALC, Macrolink or BEA Logistics (collectively, the “Excluded Domestic Assets”); provided, that if that aggregate amount exceeds, $600,000,000, then such “Allowed Exclusion Amount” shall be deemed to be an amount equal to $600,000,000 .

 

(c) Each instance in the Credit Agreement of (i) the phrase “ATS, ALC and Macrolink” shall be replaced with the phrase “ATS, ALC, Macrolink and BEA Logistics” and (ii) the phrase “ATS, ALC or Macrolink” shall be replaced with the phrase “ATS, ALC, Macrolink or BEA Logistics”.

 

(d) Each Lender party hereto hereby waives the ten Business Day notice period (set forth in Section 3.3 of the Credit Agreement) which would otherwise be applicable to the Company’s request for the First Revolving Credit Commitment Increase.

 

(e) Each Lender party hereto hereby waives (i) any Default or Event of Default and (ii) the condition set forth in Section 7.2(a) of the Credit Agreement solely as such condition relates to the representations set forth in Section 6.19 of the Credit Agreement, in each case arising solely from any failure of the Equity Interests of Burns Aerospace Europe SARL and/or BE Aerospace Investments Holdings Ltd. to secure the Obligations as required under the Credit Agreement as a result of the execution and delivery of this First Amendment and the performance of the transactions contemplated hereby; provided that the waiver set forth in this clause (e) shall terminate on the earlier of (x) the date on which all of the security agreements, pledge agreements, mortgages or similar collateral documents described in Section 5.09 hereof have been delivered and (y) the date that is 45 days after the First Amendment Effective Date.

 

  

- 4 -

  

 

ARTICLE III

CONDITIONS TO EFFECTIVENESS

 

Section 3.01   Conditions to Effectiveness of this First Amendment.  This First Amendment, the effectiveness of the First Revolving Credit Commitment Increase and each of the amendments to the Credit Agreement contained herein shall become effective on the date (the “First Amendment Effective Date”) on which the following conditions precedent are satisfied (or waived):

 

(a) Execution and Delivery of This First Amendment.  The Administrative Agent shall have received executed counterparts of this First Amendment executed by (i) (x) in the case of the amendments to the Credit Agreement effected by Section 2.02 hereof, the “Required Lenders” (as defined in the Credit Agreement prior to giving effect to this First Amendment) and (y) in the case of the amendments effected by Section 2.01 hereof, the Incremental Lenders, and (ii) the Company and the Administrative Agent, or written evidence reasonably satisfactory to the Administrative Agent (which may include telecopy or electronic transmission (including Adobe pdf file) of an executed signature page of this First Amendment) that each such party has executed a counterpart signature page of this First Amendment.

 

(b) Payment of Fees.  There shall have been paid to the Administrative Agent, for the account of the Administrative Agent and the Lenders (including any Person becoming a Lender as part of this First Amendment on the First Amendment Effective Date), as applicable, all fees and expenses (including reasonable out-of-pocket fees, charges and disbursements of counsel) invoiced at least one Business Day prior to the First Amendment Effective Date, and with reasonable supporting documentation, that are due and payable on or before the First Amendment Effective Date.

 

(c) Deliverables.  The Administrative Agent’s receipt of the following, on or prior to the First Amendment Effective Date, each dated the First Amendment Effective Date (unless otherwise indicated or agreed to by the Administrative Agent) and each in form and substance reasonably satisfactory to the Administrative Agent:

 

(i) if requested by any Incremental Lender at least two Business Days prior to the First Amendment Effective Date, a Note executed by the Company in favor of such Incremental Lender;

 

(ii) certified copies of resolutions of the board of directors of each Credit Party approving the execution, delivery and performance of this First Amendment and the transactions contemplated hereby;

 

(iii) to the extent not previously delivered to the Administrative Agent, true and correct copies of the Organization Documents of each Credit Party, certified as to authenticity by the Secretary or Assistant Secretary of each such Credit Party;

 

(iv) copies of certificates from the Secretary of State or other appropriate authority of such jurisdiction, evidencing good standing of each Credit Party in its jurisdiction of incorporation and in each state where the ownership, lease or operation of property or the conduct of business requires it to qualify as a foreign corporation except where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect;

 

(v) opinions addressed to the Administrative Agent, the Collateral Agent and the Lenders of (A) Shearman & Sterling LLP, New York counsel to the Company, and (B) Ryan M. Patch, general counsel to the Company, each in form and substance reasonably satisfactory to the Administrative Agent; and

 

  

- 5 -

  

 

(vi) closing certificates of the Company, substantially in the form of Exhibits B-1 and B-2 to the Credit Agreement, respectively, with appropriate insertions and attachments, satisfactory in form and substance to the Administrative Agent and its counsel, dated as of the First Amendment Effective Date and executed by (A) the President or any Vice President and (B) the Secretary or any Assistant Secretary of the Company.

 

(d) Representations and Warranties.  Each of the representations set forth in Article VI of the Credit Agreement, or which are contained in any other Credit Document, to the extent already qualified by materiality, shall be true and correct in all respects, and, if not so already qualified, shall be true and correct in all material respects, in any case on and as of the date of this First Amendment, in each case as if made on and as of such date (unless stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such earlier date).

 

(e) No Default or Event of Default.  No Default or Event of Default shall have occurred and be continuing on the date of this First Amendment or the date of effectiveness of the First Revolving Credit Commitment Increase or after giving effect to the First Revolving Credit Commitment Increase or the other amendments to the Credit Agreement contained herein.

 

(f) Financial Compliance.  After giving effect to this First Amendment and the effectiveness of the First Revolving Credit Commitment Increase, the Company shall be in compliance with the covenants set forth in Section 9.1 of the Credit Agreement and (y) the Secured Leverage Ratio of the Company and its Consolidated Subsidiaries shall be less than 2.75 to 1.00, in each case, calculated on a pro-forma basis as of the last day of the fiscal quarter ending on or immediately preceding the First Amendment Effective Date for which the relevant financial information has been delivered to the Lenders pursuant to Section 8.1 or 8.2 of the Credit Agreement, as applicable, giving effect to the full amount of the First Revolving Credit Commitment Increase contemplated by this First Amendment as if it had been fully drawn on the first day of the Measurement Period ending on the last day of such fiscal quarter.

 

Section 3.02   Effects of this First Amendment.

 

(a) On the First Amendment Effective Date, the Credit Agreement will be automatically amended to reflect the amendments thereto provided for in this First Amendment.  The rights and obligations of the parties hereto shall be governed (i) prior to the First Amendment Effective Date, by the Credit Agreement and (ii) on and after the First Amendment Effective Date, by the Amended Credit Agreement.  Once the First Amendment Effective Date has occurred, all references to the Credit Agreement or “this Amended Agreement” in any document, instrument, agreement, or writing shall be deemed to refer to the Amended Credit Agreement.

 

(b) Other than as specifically provided herein, this First Amendment shall not operate as a waiver or amendment of any right, power or privilege of the Administrative Agent or any Lender under the Credit Agreement or any other Credit Document or of any other term or condition of the Credit Agreement or any other Credit Document, nor shall the entering into of this First Amendment preclude the Administrative Agent and/or any Lender from refusing to enter into any further waivers or amendments with respect thereto.  This First Amendment is not intended by any of the parties hereto to be interpreted as a course of dealing which would in any way impair the rights or remedies of the Administrative Agent or any Lender except as expressly stated herein, and no Lender shall have any obligation to extend credit to the Company other than pursuant to the strict terms of the Credit Agreement and the other Credit Documents, as amended or supplemented to date (including by means of this First Amendment).

 

  

- 6 -

  

 

(c) The Incremental Lenders shall be Lenders for purposes of the Credit Documents.

 

Section 3.03   Acknowledgement and Affirmation of Security Interests.  (a) Each Credit Party hereby acknowledges that it has reviewed the terms and provisions of this First Amendment and the Credit Agreement and consents to the amendments to the Credit Agreement effected pursuant to this First Amendment.  Each Credit Party hereby confirms that each Credit Document to which it is a party or otherwise bound and all Collateral encumbered thereby will continue to guarantee or secure, as the case may be, to the fullest extent possible in accordance with the Credit Documents, the payment and performance of all “Obligations” under each of the Credit Documents to which it is a party (in each case as such terms are defined in the applicable Credit Document).

 

(b) Each Credit Party acknowledges and agrees that (i) any of the Credit Documents to which it is a party or is otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid, enforceable, ratified and confirmed in all respects and shall not be impaired or limited by the execution or effectiveness of this First Amendment or the Amended Credit Agreement, and (ii) all security interests created under any of the Collateral Documents shall continue in full force and effect pursuant to the terms of such Collateral Document.  Each Credit Party represents and warrants that all representations and warranties contained in this First Amendment and the other Credit Documents to which it is a party or is otherwise bound are true and correct in all material respects on and as of the First Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date.

 

(c) Each Credit Party acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this First Amendment, such Credit Party (other than the Company) is not required by the terms of the Credit Agreement or any other Credit Document to consent to the amendments to the Credit Agreement effected pursuant to this First Amendment and (ii) nothing in the Credit Agreement, this First Amendment or any other Credit Document shall be deemed to require the consent of such Credit Party (other than the Company) to any future amendments to the Credit Agreement.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES

 

Section 4.01   Representations and Warranties of the Company.  In order to induce the Incremental Lenders to commit to provide the First Revolving Credit Commitment Increase, the Company represents and warrants, as of the First Amendment Effective Date, as set forth below:

 

(a) Power and Authority.  Each Credit Party has the corporate power and authority and the legal right (i) to make, deliver and perform this First Amendment and any agreement or certificate required to be delivered hereunder (collectively, the “First Amendment Documents”) to which it is a party, and (ii) to perform the Amended Credit Agreement.  Each Credit Party has taken all necessary corporate action to authorize the execution, delivery and performance of the First Amendment Documents to which it is a party, and the performance of the Amended Credit Agreement.  No consent or authorization of, or filing with, any Person (including, without limitation, any Governmental Authority) is required in connection with the execution, delivery or performance by any Credit Party, or the validity or enforceability against any Credit Party, of (x) any First Amendment Document to the extent that it is a party thereto, or (y) the Amended Credit Agreement (with respect only to the performance thereof), in each case other than any such consent or authorization which has been obtained or filing which has been made to the extent required hereunder, or the failure of which to obtain could have a Material Adverse Effect.

 

  

- 7 -

  

 

(b) Binding Effect.  Each of the First Amendment Documents has been duly executed and delivered on behalf of each Credit Party party thereto, and each of such First Amendment Documents and the Amended Credit Agreement constitute the legal, valid and binding obligation of such Credit Party, enforceable against such Credit Party in accordance with its respective terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law).

 

ARTICLE V

MISCELLANEOUS

 

Section 5.01   Headings.  The various headings of this First Amendment are included for convenience of reference only and shall not affect the interpretation of this First Amendment or any provision hereof.

 

Section 5.02   Successors and Assigns.  This First Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

Section 5.03   Counterparts.  This First Amendment may be executed by one or more of the parties to this First Amendment on any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  A set of the copies of this First Amendment, executed by each party hereto, shall be lodged with the Company and the Administrative Agent.

 

Section 5.04   Integration.  This First Amendment, the Amended Credit Agreement and the other Credit Documents represent the entire agreement of the Credit Parties, the Agents and the Lenders with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by any Agent or any Lender relative to the subject matter hereof or thereof not expressly set forth or referred to herein or in the other Credit Documents.

 

Section 5.05   GOVERNING LAW; NO THIRD PARTY RIGHTS.  THIS FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS FIRST AMENDMENT AND THE AMENDED CREDIT AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK.  THIS FIRST AMENDMENT IS SOLELY FOR THE BENEFIT OF THE PARTIES HERETO AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, AND, EXCEPT AS SET FORTH IN SECTION 12.6 OF THE AMENDED CREDIT AGREEMENT, NO OTHER PERSONS SHALL HAVE ANY RIGHT, BENEFIT, PRIORITY OR INTEREST UNDER, OR BECAUSE OF THE EXISTENCE OF, THIS FIRST AMENDMENT OR THE AMENDED CREDIT AGREEMENT.

 

Section 5.06   SUBMISSION TO JURISDICTION; WAIVERS.  (a)  EACH PARTY TO THIS FIRST AMENDMENT HEREBY IRREVOCABLY AND UNCONDITIONALLY:

 

(i) SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS FIRST AMENDMENT, THE AMENDED CREDIT AGREEMENT OR ANY OF THE OTHER CREDIT DOCUMENTS, OR FOR RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK, THE COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF;

 

  

- 8 -

  

 

(ii) CONSENTS THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS, AND WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME;

 

(iii) AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS SET FORTH IN SECTION 12.2 OF THE AMENDED CREDIT AGREEMENT OR AT SUCH OTHER ADDRESS OF WHICH THE ADMINISTRATIVE AGENT SHALL HAVE BEEN NOTIFIED PURSUANT THERETO; AND

 

(iv) AGREES THAT NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR SHALL LIMIT THE RIGHT TO SUE IN ANY OTHER JURISDICTION.

 

(b) EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS FIRST AMENDMENT, THE AMENDED CREDIT AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS FIRST AMENDMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

Section 5.07   Fees and Expenses.  The Company agrees to pay all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates to the extent required by Section 12.5 of the Amended Credit Agreement.

 

Section 5.08   Credit Document Pursuant to Credit Agreement.  This First Amendment shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents and shall be construed, administered and applied in accordance with all of the terms and provisions of the Credit Agreement (and, following the date hereof, the Amended Credit Agreement).  From and after the First Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each reference to the Credit Agreement in any other Credit Document shall be deemed a reference to the Amended Credit Agreement.

 

Section 5.09   Post-Closing Covenant.  The Company agrees to deliver or cause to be delivered, on or prior to the date that is 45 days following the First Amendment Effective Date, any security agreements, pledge agreements, mortgages or similar collateral documents, and any amendments to any such collateral documents, as may be required to cause the Collateral Agent to have a perfected security interest, for the benefit of the Secured Parties (as defined in the Amended Credit Agreement), in 65% of the Equity Interests of Burns Aerospace Europe SARL and 65% of the Equity Interests of BE Aerospace Investments Holdings Ltd., as security for the Obligations as required under the Credit Agreement.

 

  

- 9 -

  

 

Section 5.10   Resignation of UBS Securities LLC.  By executing this First Amendment, UBS Securities LLC hereby resigns as Syndication Agent under and pursuant to the Amended Credit Agreement effective as of the date hereof.  This Section 5.10 shall constitute the notice pursuant to Section 11.9 of the Amended Credit Agreement and each Lender party hereto hereby waives the 30 day notice period (set forth in Section 11.9 of the Credit Agreement) which would otherwise be applicable to such resignation.

 

 

[SIGNATURE PAGES FOLLOW]

 

  

- 10 -

  

 

IN WITNESS WHEREOF, the signatories hereto have caused this First Amendment to be executed by their respective officers thereunto duly authorized as of the day and year first above written.

 

	
COMPANY:

	
B/E AEROSPACE, INC.

	 	 	 
	 	 	 
	 	By: 	 
	 	 	
Name:

	 	 	Title: 

 

  

S-1

  

 

	

ADMINISTRATIVE AGENT:

	
JPMORGAN CHASE BANK, N.A., as

Administrative Agent

	 	 	 
	 	 	 
	 	By: 	 
	 	 	
Name:

	 	 	Title: 

 

  

S-2

  

 

	

DOCUMENTATION AGENT:

	
BARCLAYS BANK PLC,  as Documentation Agent

	 	 	 
	 	 	 
	 	By: 	 
	 	 	
Name:

	 	 	Title: 

 

  

S-3

  

 

	

DOCUMENTATION AGENT:

	
UBS SECURITIES LLC, as Documentation Agent,

and as Resigning Syndication Agent

	 	 	 
	 	 	 
	 	By: 	 
	 	 	
Name:

	 	 	Title: 

 

  

S-4

  

 

	

ADMINISTRATIVE AGENT,

ON BEHALF OF THE LENDERS:

	
JPMORGAN CHASE BANK, N.A.,

as Administrative Agent, for and on behalf of the

Lenders who have delivered a signature page

hereto pursuant to Section 12.1 of the Credit Agreement

	 	 	 
	 	 	 
	 	By: 	 
	 	 	
Name:

	 	 	Title: 

 

  

S-5

  

 

	

INCREMENTAL LENDERS:

	
JPMORGAN CHASE BANK, N.A.

as an Incremental Lender

	 	 	 
	 	 	 
	 	By: 	 
	 	 	
Name:

	 	 	Title: 

 

  

S-6

  

 

	 	
______________________,

as an Incremental Lender

	 	 	 
	 	 	 
	 	By: 	 
	 	 	
Name:

	 	 	Title: 

 

  

S-7

  

 

Annex I

 

 

	
Lender

	 	
Revolving Credit

Commitment Increase

	 
	
JPMorgan Chase Bank, N.A.

	 	$	9,666,666	 
	
Citibank, N.A.

	 	$	15,000,000	 
	
SunTrust Bank

	 	$	9,666,667	 
	
Wells Fargo Bank, N.A.

	 	$	9,666,667	 
	
Credit Suisse AG, Cayman Islands Branch

	 	$	12,500,000	 
	
Goldman Sachs Bank USA

	 	$	24,500,000	 
	
Royal Bank of Canada

	 	$	12,500,000	 
	
TD Bank, N.A.

	 	$	35,000,000	 
	
The Royal Bank of Scotland PLC

	 	$	21,500,000	 
	
Barclays Bank PLC

	 	$	75,000,000	 
	
UBS Loan Finance LLC

	 	 	-	 
	
Deutsche Bank AG New York Branch

	 	$	62,500,000	 
	
The Bank of Tokyo-Mitsubishi UFJ, Ltd.

	 	$	21,500,000	 
	
U.S. Bank National Association

	 	$	10,000,000	 
	
PNC Bank National Association

	 	$	8,000,000	 
	
Branch Banking & Trust Company

	 	$	5,000,000	 
	
Capital One Business Credit Corp.

	 	$	15,000,000	 
	
Sumitomo Mitsui Banking Corporation

	 	$	18,000,000	 
	
Commerzabnk AG, New York and Grand Cayman Branches

	 	$	30,000,000	 
	
Morgan Stanley Bank, N.A.

	 	 	-	 
	
Capital Bank, N.A.

	 	$	25,000,000	 
	
The Northern Trust Company

	 	$	20,000,000	 
	
City National Bank of Florida

	 	$	10,000,000	 
	
First Commercial Bank, Ltd, New York Branch

	 	 	-	 
	
TOTAL:

	 	$	450,000,000	 

 

  

  

  

 

Schedule 1A

 

 

COMMITMENT AMOUNTS

	
Lender

	 	
Revolving Credit

Commitment

	 
	
JPMorgan Chase Bank, N.A.

	 	$	90,000,000	 
	
Citibank, N.A.

	 	$	90,000,000	 
	
SunTrust Bank

	 	$	90,000,000	 
	
Wells Fargo Bank, N.A.

	 	$	90,000,000	 
	
Credit Suisse AG, Cayman Islands Branch

	 	$	87,500,000	 
	
Goldman Sachs Bank USA

	 	$	87,500,000	 
	
Royal Bank of Canada

	 	$	87,500,000	 
	
TD Bank, N.A.

	 	$	85,000,000	 
	
The Royal Bank of Scotland PLC

	 	$	85,000,000	 
	
Barclays Bank PLC

	 	$	75,000,000	 
	
UBS Loan Finance LLC

	 	$	75,000,000	 
	
Deutsche Bank AG New York Branch

	 	$	62,500,000	 
	
The Bank of Tokyo-Mitsubishi UFJ, Ltd.

	 	$	59,600,000	 
	
U.S. Bank National Association

	 	$	55,000,000	 
	
PNC Bank National Association

	 	$	45,000,000	 
	
Branch Banking & Trust Company

	 	$	40,000,000	 
	
Capital One Business Credit Corp.

	 	$	40,000,000	 
	
Sumitomo Mitsui Banking Corporation

	 	$	40,000,000	 
	
Commerzabnk AG, New York and Grand Cayman Branches

	 	$	30,000,000	 
	
Morgan Stanley Bank, N.A.

	 	$	25,400,000	 
	
Capital Bank, N.A.

	 	$	25,000,000	 
	
The Northern Trust Company

	 	$	20,000,000	 
	
City National Bank of Florida

	 	$	10,000,000	 
	
First Commercial Bank, Ltd, New York Branch

	 	$	5,000,000	 
	
TOTAL:

	 	$	1,400,000,000

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