Document:

Exhibit 4.28F

 

 

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$30,000,000

TERM LOAN SUPPLEMENT

dated as of August 18, 2006

among

CLEAN HARBORS, INC. AND
THE SUBSIDIARIES PARTY HERETO

The TERM LOAN LENDERS Party Hereto

CREDIT SUISSE SECURITIES
(USA) LLC,

as Arranger

CREDIT SUISSE,

as LC Facility Administrative Agent and LC Facility Collateral Agent

and

The GUARANTORS
Party Hereto

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TERM LOAN SUPPLEMENT

THIS
TERM LOAN SUPPLEMENT (this “Supplement”) dated as of August 18, 2006,
among CLEAN HARBORS, INC., a Massachusetts corporation (“Parent”),
certain of its Subsidiaries party hereto that are US Borrowers under the Loan
Agreement (as defined below) and that appear on the signature page hereof (such
Subsidiaries, together with Parent, are collectively referred to as the “US
Borrowers”), the Guarantors that are party to the Loan Agreement, the TERM
LOAN LENDERS party hereto, CREDIT SUISSE SECURITIES (USA) LLC, as arranger (the
“Arranger”) and CREDIT SUISSE, as LC Facility Administrative Agent and
LC Facility Collateral Agent under the Loan Agreement.

Reference
is made to that certain Loan and Security Agreement dated June 30, 2004 and
amended and restated as of December 1, 2005 (as further amended, restated,
modified, amended and restated or otherwise changed, the “Loan Agreement”),
by and among Credit Suisse, as administrative agent for the LC Facility (in
such capacity, the “LC Facility Administrative Agent”), Bank of America,
N.A., as administrative agent for the Revolving Facility and as syndication
agent for the LC Facility, Banc of America Securities LLC (“BAS”), as
sole arranger under the Revolving Facility, Credit Suisse, as sole bookrunner
under the LC Facility, Credit Suisse and BAS, as joint lead arrangers under the
LC Facility, Parent, the Canadian Borrowers, and each of the other Subsidiaries
of Parent from time to time a party thereto.

Section
2.10 of the Loan Agreement contemplates that Term Loans in an aggregate principal
amount of up to $60.0 million may be borrowed by the US Borrowers upon the
terms and subject to the satisfaction of the conditions set forth therein and
one or more amendments and supplements to the Loan Agreement may be made in
accordance therewith.  This Supplement is
being made to evidence Term Loans in an aggregate principal amount of $30.0
million being made on the Term Loan Effective Date referred to below.  The Term Loan Lenders are willing to make the
Term Loans in an aggregate principal amount of $30.0 million on such Term Loan
Effective Date on the terms and conditions set forth below and in accordance
with the applicable provisions of the Loan Agreement and this Supplement, and
accordingly, the parties hereto hereby agree as follows:

ARTICLE I

DEFINED TERMS

Terms
defined in the Loan Agreement are used herein as defined therein; provided that (a) notwithstanding the Loan Agreement, the
term “Reference Bank” shall mean, for purposes of this Supplement and for all
purposes in calculating interest or other amounts due on the Term Loans, Credit
Suisse and (b) the definition of “Term Loans” in the Loan Agreement shall be
deemed to be superseded by the definition of “Term Loans” in this Supplement.
The following terms as used in this Supplement have the meanings specified
below:

“Additional
Real Properties” shall mean the Real Properties owned prior to the Term
Loan Effective Date by Teris L.L.C. in El Dorado, Arkansas (which shall
continue to be owned as of the Term Loan Effective Date by Teris L.L.C. under
its new name of “Clean Harbors El Dorado, LLC”) and Wilmington, California
(which shall be conveyed as of the Term Loan Effective Date by Teris L.L.C. to
Clean Harbors Wilmington, LLC).

“Additional
US Borrowers” shall mean Clean Harbors El Dorado, LLC (whose name is being
changed from Teris L.L.C. as of the Term Loan Effective Date) and Clean Harbors
Wilmington, LLC.

 

 

“Teris
Acquisition” shall mean the acquisition by Parent of all of the outstanding
membership interests in Teris L.L.C.

“Teris
Acquisition Agreement” shall mean the Purchase and Sale Agreement by and between
SITA U.S.A., Inc. and Parent for all of the outstanding membership interests in
Teris L.L.C. dated as of May 3, 2006.

“Term
Loan” shall mean a Loan made on the Term Loan Effective Date pursuant to Section
2.01(a).

“Term
Loan Applicable Rate” shall be 1.50% per annum for Term Loans that are US
Prime Rate Loans and 2.50% per annum for Term Loans that are Eurodollar Rate
Loans.

“Term
Loan Commitment” shall mean, with respect to each Term Loan Lender, the
commitment of such Lender to make Term Loans on the Term Loan Effective Date
hereunder.  The amount of each Term Loan
Lender’s Term Loan Commitment is set forth on Schedule 1.  The aggregate amount of the Term Loan
Commitments is $30.0 million.

“Term
Loan Effective Date” shall mean the date on which the conditions specified
in Article IV are satisfied and the Term Loans are made, which date shall be
August 18, 2006.

“Term
Loan Interest Payment Date” shall mean (a) with respect to any Term
Loans that are US Prime Rate Loans, the last Business Day of each March, June,
September and December to occur during any period in which such Term Loans are
outstanding (and if such Term Loans are converted to Eurodollar Rate Loans
pursuant to Section 2.04, the effective date of such conversion), (b) with
respect to any Term Loans that are Eurodollar Rate Loans, the last day of the
Interest Period applicable to such Eurodollar Rate Loans and, in the case of
Term Loans that are Eurodollar Rate Loans with an Interest Period of more than
three months’ duration, each day prior to the last day of such Interest Period
that occurs at intervals of three months’ duration after the first day of such
Interest Period and (c) the Term Loan Maturity Date.

“Term
Loan Lender” shall mean any Term Loan Lender as defined in the Loan Agreement
and shall include for the purposes of this Supplement and the other Financing
Agreements (a) as of the Term Loan Effective Date, a Lender having a Term Loan
Commitment and (b) thereafter, the Lenders from time to time holding a Term
Loan Commitment or Term Loan after giving effect to any assignments thereof
pursuant to Section 12.6 of the Loan Agreement.

“Term
Loan Maturity Date” shall mean December 1, 2010, or if such day is not a
Business Day, the immediately preceding Business Day.

ARTICLE II

TERM LOAN

Section 2.01.          Term Loans.

(a)           Making of Term Loans.

(i)            Subject to and upon
the terms and conditions contained herein, each of the Term Loan Lenders
severally, but not jointly, agrees to, on the Term Loan Effective Date, make a
Term Loan to the US Borrowers in an amount equal to such Term Loan Lender’s
Term Loan Commitment.

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(ii)           All Term Loans
shall be made on the Term Loan Effective Date.

(iii)          Once prepaid or
repaid, no Term Loan may be reborrowed.

(iv)          All Term Loans shall
be, as of the Term Loan Effective Date, US Prime Rate Loans, which may
thereafter be converted to Eurodollar Rate Loans to the extent permitted by
Section 2.04(b).

(v)           Parent shall provide
a written borrowing notice to the LC Facility Administrative Agent of the
proposed Term Loan Effective Date no later than noon, New York City time, one
Business Day prior to the proposed Term Loan Effective Date.

(b)           Termination of Commitments.  Unless previously terminated, the Term Loan
Commitments shall terminate after the borrowing of the Term Loans on the Term
Loan Effective Date.

(c)           Repayment of Loans.  All Term Loans shall be due and payable on
the Term Loan Maturity Date.  The Term Loans
shall be subject to mandatory prepayments as set forth in Section 2.8 of the
Loan Agreement.

Section 2.02.          Optional Prepayment.  The US Borrowers may, upon notice from Parent
to the LC Facility Administrative Agent, at any time or from time to time voluntarily
prepay the Term Loans in whole or in part without premium or penalty; provided that in the case of the
Eurodollar Rate Loans the US Borrowers may prepay a Eurodollar Rate Loan only
upon at least three (3) Business Days’ prior written notice to the LC Facility
Administrative Agent (which notice shall be irrevocable and must be received by
noon, New York City time, on such third preceding Business Day), and any such
prepayment shall occur only on the last day of the Interest Period for such
Eurodollar Rate Loan.  The US Borrowers
shall pay to any Term Loan Lender, upon request of such Term Loan Lender, such
amount or amounts as shall be sufficient (in the reasonable opinion of such
Term Loan Lender) to compensate such Term Loan Lender for any loss, cost, or
expense incurred as a result of:  (i) any
payment of a Eurodollar Rate Loan on a date other than the last day of the
Interest Period for such Loan; (ii) any failure by the US Borrowers to borrow
an Eurodollar Rate Loan on the date specified by Parent’s written notice
referred to in Section 2.01; or (iii) any failure by the US Borrowers to pay an
Eurodollar Rate Loan on the date for payment specified in Parent’s written
notice referred to in the previous sentence. 
Without limiting the foregoing, the US Borrowers shall pay to the Term
Loan Lenders a “yield maintenance fee” in an amount computed as follows:  the current rate for United States Treasury
securities (bills on a discounted basis shall be converted to a bond
equivalent) with a maturity date closest to the Interest Period chosen pursuant
to the Eurodollar Rate Loan as to which the prepayment is made, shall be
subtracted from the Eurodollar Rate in effect at the time of prepayment.  If the result is zero or a negative number,
there shall be no yield maintenance fee. 
If the result is a positive number, then the resulting percentage shall
be multiplied by the amount of the principal balance being prepaid.  The resulting amount shall be divided by 360
and multiplied by the number of days remaining in the Interest Period chosen
pursuant to the Eurodollar Rate Loan as to which the prepayment is made.  Said amount shall be reduced to present value
calculated by using the above referenced United States Treasury securities rate
and the number of days remaining in the term chosen pursuant to the Eurodollar
Rate Loan as to which prepayment is made. 
The resulting amount shall be the yield maintenance fee due to the Term
Loan Lenders upon the prepayment of a Term Loan that is Eurodollar Rate
Loan.  If by reason of an Event of
Default, the Obligations in respect of the Term Loans are declared to be
immediately due and payable, then any yield maintenance fee with respect to an
Eurodollar Rate Loan shall become due and payable in the same manner as though
the US Borrowers had exercised such right of prepayment.

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Section 2.03.          Notes.  If so requested by any Term Loan Lender by
written notice to Parent (with a copy to the LC Facility Administrative Agent)
at least two Business Days prior to the Term Loan Effective Date, or at any
time thereafter, the US Borrowers shall execute and deliver to such Term Loan
Lender (and/or, if applicable and if so specified in such notice, to any Person
who is an assignee of such Term Loan Lender pursuant to Section 12.6 of the Loan
Agreement) on the Term Loan Effective Date (or, if such notice is delivered
after the Term Loan Effective Date, promptly after Parent’s receipt of such
notice) a Term Loan Note or Term Loan Notes to evidence such Term Loan Lender’s
Term Loan.

Section 2.04.          Interest.

(a)           The US Borrowers shall pay to LC
Facility Administrative Agent for the ratable benefit of the Term Loan Lenders
interest on the outstanding principal amount of the Term Loans at (x) in the
case of Term Loans that are US Prime Rate Loans, the then prevailing US Prime
Rate plus the Term Loan Applicable Rate and (y) in the case of Term Loans that
are Eurodollar Rate Loans, the then prevailing Eurodollar Rate plus the Term
Loan Applicable Rate.  Notwithstanding
the foregoing, during an Event of Default, the principal and interest in
respect of all Term Loans shall, to the extent permitted by applicable law,
bear interest, after as well as before judgment, at a per annum rate equal to
2% per annum plus the rate otherwise
applicable to such Term Loan as provided in the previous sentence, and all such
interest referred to in this sentence shall be payable on demand.

(b)           With respect to Term Loans, Parent
may from time to time request Eurodollar Rate Loans or may request that US
Prime Rate Loans be converted to Eurodollar Rate Loans or that any existing
Eurodollar Rate Loans continue for an additional Interest Period.  Any such request from Parent shall be in
writing on such form or forms as LC Facility Administrative Agent may require
and shall specify, without limitation, the amount of the Eurodollar Rate Loans
or the amount of the US Prime Rate Loans to be converted to Eurodollar Rate
Loans or the amount of the Eurodollar Rate Loans to be continued (subject to
the limits set forth below) and the Interest Period to be applicable to such
Eurodollar Rate Loans; provided that,
prior to the date upon which Credit Suisse shall have notified Parent that the
primary syndication of the Term Loans is completed, the maximum duration of any
Interest Period applicable to any Term Loan shall be one month.  Subject to the terms and conditions contained
herein, three (3) Business Days (or, if such request is received at any time
after noon, New York City time, on the date such request is delivered to the LC
Facility Administrative Agent, four (4) Business Days) after receipt by LC
Facility Administrative Agent of such a request from Parent such Eurodollar
Rate Loans shall be extended or such US Prime Rate Loans shall be converted to
Eurodollar Rate Loans or such Eurodollar Rate Loans shall continue, as the case
may be, provided that (i) no Default or Event of
Default shall exist or have occurred and be continuing, (ii) no party
hereto shall have sent any notice of termination or non-renewal of the Loan
Agreement or this Supplement or the prepayment in full of the Term Loans,
(iii) US Borrowers shall have complied with such customary procedures as
are established by LC Facility Administrative Agent and specified by LC
Facility Administrative Agent to US Borrowers from time to time for requests by
Parent for Eurodollar Rate Loans, (iv) no more than 3 Interest Periods with
respect to the Term Loans may be in effect at any one time, (v) the aggregate
amount of the Eurodollar Rate Loans must be in an amount not less than $1,000,000  or an integral multiple of $500,000 in excess
thereof, and (vi) the LC Facility Administrative Agent shall have determined
that the Interest Period or Adjusted Eurodollar Rate is available to Term Loan
Lenders and Reference Bank and can be readily determined as of the date of the
request for such Eurodollar Rate Loan by Parent.  Any request by Parent for Eurodollar Rate
Loans or to convert US Prime Rate Loans to Eurodollar Rate Loans or to continue
any existing Eurodollar Rate Loans shall be irrevocable.  Notwithstanding anything to the contrary
contained herein (A) the Term Loan Lenders and Reference Bank shall not be
required to purchase United States Dollar deposits in the London interbank
market or other applicable Eurodollar Rate market to fund any Eurodollar Rate
Loans, but the provisions hereof shall be deemed to apply as if Lenders and Reference
Bank had purchased such

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deposits to fund the Eurodollar Rate Loans and (B) if
an Event of Default has occurred and is continuing, the LC Facility Administrative
Agent may require, by notice to Parent, that (i) no outstanding Term Loan
may be converted to or continued as a Eurodollar Rate Loan and (ii) unless
repaid, each Term Loan shall be converted to a US Prime Rate Loan at the end of
the Interest Period applicable thereto.

(c)           Any Eurodollar Rate Loans shall
automatically convert to US Prime Rate Loans upon the last day of the
applicable Interest Period, unless LC Facility Administrative Agent has
received and approved a request to continue such Eurodollar Rate Loans no later
than noon, New York City time, at least three (3) Business Days prior to such
last day in accordance with the terms hereof. 
Any Eurodollar Rate Loans shall, at LC Facility Administrative Agent’s
option, upon notice by LC Facility Administrative Agent to Parent, convert to
US Prime Rate Loans in the event that the Loan Agreement shall terminate or not
be renewed.  US Borrowers shall pay to LC
Facility Administrative Agent for the benefit of such Term Loan Lenders upon
demand by any Term Loan Lender (or LC Facility Administrative Agent or any such
Term Loan Lender may, at its option, charge any loan account of US Borrowers)
any amounts required to compensate such Term Loan Lender, the Reference Bank or
any participant with any such Term Loan Lender for any loss (including loss of
anticipated profits), cost or expense incurred by such person, as a result of
the conversion of Eurodollar Rate Loans to US Prime Rate Loans pursuant to any
of the foregoing.

(d)           Interest shall be payable by US
Borrowers to LC Facility Administrative Agent for the account of Term Loan
Lenders on each Term Loan Interest Payment Date.  In no event shall charges constituting
interest payable by US Borrowers to LC Facility Administrative Agent exceed the
maximum amount or the rate permitted under any applicable law or regulation,
and if any such part or provision of this Supplement is in contravention of any
such law or regulation, such part or provision shall be deemed amended to conform
thereto.  All interest hereunder shall be
computed on the basis of a year of 360 days, except that interest computed
by reference to the US Prime Rate shall be computed on the basis of a year of
365 days (or 366 days in a leap year), and in each case shall be
payable for the actual number of days elapsed (including the first day but
excluding the last day).  The applicable
US Prime Rate or Eurodollar Rate shall be determined by the LC Facility
Administrative Agent in accordance with the provisions of this Supplement and
such determination shall be conclusive absent manifest error.  In addition to the foregoing, all principal
of any Term Loan that is prepaid or repaid on the Term Loan Maturity Date, or
pursuant to any optional or mandatory prepayment, shall be accompanied by all
interest that shall have accrued on such principal.

(e)           A certificate of an authorized
signing officer of LC Facility Administrative Agent as to each rate of interest
payable hereunder from time to time absent manifest error shall be conclusive
evidence of such rate.

(f)            For greater certainty, unless
otherwise specified in this Supplement or any of the Financing Agreements, as
applicable, whenever any amount is payable under this Supplement or any of the
Financing Agreements by US Borrowers as interest or as a fee which requires the
calculation of an amount using a percentage per annum, each party to this
Supplement acknowledges and agrees that such amount shall be calculated as of
the date payment is due without application of the “deemed reinvestment
principle” or the “effective yield method.” 
As an example, when interest is calculated and payable monthly, the rate
of interest payable per month is one-twelfth (1/12) of the stated rate of
interest per annum.

Section 2.05.                Changes in Laws and Increased
Costs of Loans.

(a)           Notwithstanding anything to the
contrary contained herein, the Eurodollar Rate Loans made by a Term Loan Lender
shall, upon notice by such Term Loan Lender to Parent, convert to

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US Prime Rate Loans in the event that (i) any change
in applicable law or regulation (or the interpretation or administration
thereof) shall (A) make it unlawful for such Term Loan Lender, or any participant
with such Term Loan Lender or Reference Bank to make or maintain Eurodollar
Rate Loans or to comply with the terms hereof in connection with the Eurodollar
Rate Loans, or (B) shall result in the increase in the costs to such Term Loan
Lender or any participant with such Term Loan Lender or Reference Bank of
making or maintaining any Eurodollar Rate Loans by an amount deemed by such
Term Loan Lender to be material, or (C) reduce the amounts received or
receivable by such Term Loan Lender in respect thereof, by an amount deemed by
such Term Loan Lender to be material; or (ii) the cost to such Term Loan
Lender, or any participant with such Term Loan Lender or Reference Bank of
making or maintaining any Eurodollar Rate Loans shall otherwise increase by an
amount deemed by such Term Loan Lender to be material.  US Borrowers shall pay to such Term Loan
Lender, upon demand by such Term Loan Lender (or such Term Loan Lender may, at
its option, charge any loan account of US Borrowers) any amounts required to
compensate such Term Loan Lender or any participant with such Term Loan Lender
or Reference Bank for any loss (including loss of anticipated profits), cost or
expense incurred by such person as a result of the foregoing, including,
without limitation, any such loss, cost or expense incurred by reason of the
liquidation or reemployment of deposits or other funds acquired by such person
to make or maintain the Eurodollar Rate Loans or any portion thereof.  A certificate of such Term Loan Lender
setting forth the basis for the determination of such amount necessary to
compensate such Term Loan Lender as aforesaid shall be delivered to Parent and
shall be conclusive, absent manifest error.

(b)           If any payments or prepayments in
respect of the Eurodollar Rate Loans are received by Term Loan Lenders other
than on the last day of the applicable Interest Period (whether pursuant to
acceleration, upon maturity or otherwise), including any payments made with the
proceeds of Collateral, US Borrowers shall pay to Term Loan Lenders upon demand
by LC Facility Administrative Agent (or LC Facility Administrative Agent or any
Term Loan Lender may, at their option, charge any loan account of US Borrowers)
any amounts required to compensate Term Loan Lenders, the Reference Bank or any
participant of any Term Loan Lender for any additional loss (including loss of
anticipated profits), cost or expense incurred by such person as a result of
such prepayment or payment, including, without limitation, any loss, cost or
expense incurred by reason of the liquidation or reemployment of deposits or
other funds acquired by such person to make or maintain such Eurodollar Rate
Loans or any portion thereof.

Section 2.06.          Replacement of Lenders.  If any Term Loan Lender requests compensation
under Section 2.05(a), or if US Borrowers are required to pay any
additional amount to any Term Loan Lender or any Governmental Authority for the
account of any Term Loan Lender pursuant to Section 2.05(a), then Parent
may, at its sole expense and effort, upon notice to such Term Loan Lender and
the LC Facility Administrative Agent, require such Term Loan Lender to assign
and delegate, without recourse (in accordance with and subject to the
restrictions contained in, and consents required by, Section 11.3 of the
Loan Agreement), all of its interests, rights and obligations under this
Supplement, the Loan Agreement and the other Financing Agreements to an
Eligible Assignee that shall assume such obligations (which assignee may be
another Lender, if a Lender accepts such assignment); provided that:

(a)           such Term Loan Lender shall have
received payment of an amount equal to the outstanding principal of its Term
Loans, accrued interest thereon and all other amounts payable to it hereunder,
under the Loan Agreement and under the other Financing Agreements, from the assignee
(to the extent of such outstanding principal and accrued interest) or US
Borrowers (in the case of all other amounts); and

(b)           such assignment does not conflict
with applicable law.

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A
Lender shall not be required to make any such assignment or delegation if,
prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling Parent to require such assignment and delegation cease
to apply.

Section 2.07.          Status of Loan Agreement and this
Supplement; Further Term Loan Supplements. 
The Term Loan Commitments of the Term Loan Lenders constitute utilization
of $30.0 million of the $60.0 million of Term Loans available under Section
2.10(a)(i) of the Loan Agreement. Pursuant to Section 2.10(a)(vii) of the Loan
Agreement, the LC Facility Administrative Agent shall act as administrative
agent for the Term Loan Lenders and the LC Facility Collateral Agent shall act
as collateral agent for the Term Loan Lenders. 
This Supplement shall be deemed a supplement to the Loan Agreement and
to be incorporated into the Loan Agreement and the Term Loan Lenders shall be
deemed to be Lenders under the Loan Agreement and shall be entitled to all of
the rights and benefits granted to the Lenders thereunder, and references to “this
Agreement” under the Loan Agreement shall be deemed to include this Supplement;
provided that each section
reference in this Supplement shall be deemed to only refer to sections of this
Supplement unless such section reference refers to a section of another
document.  To the extent permitted by the
Loan Agreement, further term loan supplements evidencing further Term Loans
made after the Term Loan Effective Date may be entered into in accordance with
the requirements of the Loan Agreement.

Section 2.08.          Payment by Term Loan Lenders and
Settlement of Loans.  Each Term Loan
Lender shall, not later than noon (New York City time) on the Term Loan
Effective Date, wire to a bank designated by LC Facility Administrative Agent
the amount of that Term Loan Lender’s Pro Rata Share of the Term Loan.  The failure of any Term Loan Lender to make
the Term Loans required to be made by it shall not release any other Term Loan
Lender of its obligations hereunder to make its Term Loan.  Neither LC Facility Administrative Agent nor
any other Term Loan Lender shall be responsible for the failure of any other
Term Loan Lender to make the Term Loan to be made by such other Term Loan
Lender.  Unless the LC Facility
Administrative Agent has received notice from a Term Loan Lender that such Term
Loan Lender does not intend to fund the Term Loan and the basis for such action
prior to 12:00 noon, New York City time, on the Business Day prior to the Term
Loan Effective Date, LC Facility Administrative Agent shall be entitled (but
not required) to assume that all Term Loan Lenders will make Term Loan Loans as
required hereunder and to make such Term Loans to the US Borrowers.  Settlements shall continue to occur during
the continuance of a Default or an Event of Default and whether or not the
applicable conditions precedent in Article IV hereof have been satisfied.  On each such settlement date, each such Term
Loan Lender shall pay to LC Facility Administrative Agent, the net amount owing
to LC Facility Administrative Agent in connection with such settlement, as
determined by LC Facility Administrative Agent, including without limitation,
amounts relating to Loans, fees, interest and other amounts payable
hereunder.  If a Term Loan Lender fails
to pay the settlement amount due to LC Facility Administrative Agent on the
settlement date specified by LC Facility Administrative Agent, such Term Loan
Lender shall pay to LC Facility Administrative Agent on demand an amount equal
to the product of (i) such amount times (ii)(A) the Federal Funds Rate during
the period from and including the third day after such payment is required to be
made, and (B) thereafter, the Interest Rate applicable to Prime Rate Loans to
the date on which such payment is immediately available to LC Facility
Administrative Agent, times (iii) a fraction, the numerator of which is the
number of days that elapsed from and including such settlement date to the date
such settlement amount is immediately available to LC Facility Administrative
Agent and the denominator is 360.  In
addition to the foregoing, if the amount of any such Term Loan Lender’s Pro
Rata Share of such Term Loan Loans is not made available to LC Facility
Administrative Agent on any settlement date, the LC Facility Administrative
Agent shall be entitled to recover such amount from the US Borrowers upon
demand with interest thereon at the Interest Rate applicable to Prime Rate
Loans.

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Section 2.09.          Pro Rata Treatment; Sharing of
Setoffs.

(a)           Pro Rata Treatment.  Each payment on account of principal of the
Term Loans shall be allocated among the Term Loan Lenders pro rata
based on the principal amount of the Term Loans held by the Term Loan Lenders.

(b)           Insufficient Funds.  If at any time insufficient funds are
received by and available to the LC Facility Administrative Agent to pay fully
all amounts of principal, interest and fees then due in respect of the Term
Loans, such funds shall be applied (i) first, toward
payment of interest and fees then due hereunder, ratably among the parties
entitled thereto in accordance with the amounts of interest and fees then due
to such parties, and (ii) second, toward
payment of principal then due in respect of the Term Loans, ratably among the
parties entitled thereto in accordance with the amounts of principal then due
to such parties.

(c)           Sharing of Set-Off.  If any Term Loan Lender shall, by exercising
any right of setoff or counterclaim or otherwise, obtain payment in respect of
any principal of or interest on any of its Term Loans resulting in such Term
Loan Lender’s receiving payment of a proportion of the aggregate amount of its
Term Loans and accrued interest thereon greater than its pro
rata share thereof as provided herein,
then the Term Loan Lender receiving such greater proportion shall
(a) notify the LC Facility Administrative Agent of such fact, and
(b) purchase (for cash at face value) participations in the Term Loans and
such other obligations of the other Term Loan Lenders, or make such other
adjustments as shall be equitable, so that the benefit of all such payments
shall be shared by the Term Loan Lenders ratably in accordance with the
aggregate amount of principal of and accrued interest on their respective Term
Loans and other amounts owing them, provided that:

(i)            if
any such participations are purchased and all or any portion of the payment
giving rise thereto is recovered, such participations shall be rescinded and
the purchase price restored to the extent of such recovery, without interest;
and

(ii)           the
provisions of this paragraph shall not be construed to apply to (x) any payment
made by US Borrowers pursuant to and in accordance with the express terms of
this Supplement or the Loan Agreement or (y) any payment obtained by a
Term Loan Lender as consideration for the assignment of or sale of a
participation in any of its Term Loans to any assignee or participant, other
than to Parent or any Subsidiary thereof (as to which the provisions of this
paragraph shall apply).

Each
US Credit Party consents to the foregoing and agrees, to the extent it may
effectively do so under any and all applicable requirements of any Governmental
Authority including any applicable law, regulation, order, judgment or decree
of any Governmental Authority, that any Term Loan Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against such US Credit
Party rights of setoff and counterclaim with respect to such participation as
fully as if such Term Loan Lender were a direct creditor of such US Credit
Party in the amount of such participation.

ARTICLE III

REPRESENTATION AND WARRANTIES

The
US Borrowers represent and warrant to the LC Facility Administrative Agent and
the Lenders that each of the representations and warranties made by each of the
US Borrowers in Section 8 of the Loan Agreement (as certain of the Schedules to
such Section have been updated through the officer’s certificate being delivered
pursuant to Section 4.01(f)), and by each Guarantor in the other Financing

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Agreements to which it is a party, is true and
complete on and as of the date hereof with the same force and effect as if made
on and as of the date hereof (or, if any such representation or warranty is
expressly stated to have been made as of a specific date, as of such specific
date) and as if each reference therein to the Loan Agreement or Financing
Agreements included reference to this Supplement.

ARTICLE IV

CONDITIONS

Section 4.01.          Term Loan Effective Date.  The obligations of the Term Loan Lenders to
make Term Loans are subject to the conditions precedent that each of the
following conditions shall have been satisfied:

(a)           Counterparts of this Supplement.  The LC Facility Administrative Agent shall
have received duly executed and delivered counterparts of (i) this Supplement
from each US Borrower, Guarantor and Term Loan Lender as of the Term Loan
Effective Date and (ii) Term Loan Commitments from the Term Loan Lenders for
aggregate Term Loan Commitments in an amount equal to $30,000,000.

(b)           Acquisition.  The Teris Acquisition shall be consummated
simultaneously with the initial funding of the Term Loans in accordance with
applicable law and the Teris Acquisition Agreement in accordance with the terms
thereof without waiver unless consented to by the LC Facility Administrative
Agent.

(c)           Additional Borrowers.  Each Additional US Borrower shall, by its
execution and delivery of this Supplement and a joinder agreement in form and
substance satisfactory to each Administrative Agent, have been added as a US
Borrower under Section 9.26(a) of the Loan Agreement and shall have delivered
(A) a signed counterpart of an assumption agreement in form and substance
satisfactory to the LC Facility Collateral Agent pursuant to which each
Additional US Borrower will agree to be bound by all of the terms of the
Amended and Restated Security Agreement as an Assignor, (B) an Opinion of
Counsel in form and substance satisfactory to each Administrative Agent as to
the due execution and delivery of the Loan Agreement and the Amended and
Restated Security Agreement, the ability of each Additional US Borrower to perform
all of its obligations hereunder and thereunder and perfection and creation of
Liens on Collateral as such Administrative Agent may reasonably request, and
(C) such other agreements, instruments, approvals, legal opinions or other
documents reasonably requested by any such Agent in order to create, perfect,
establish the first priority of or otherwise protect any Lien purported to be
covered by any such Financing Agreement or otherwise to effect the intent that
each Additional US Borrower shall become bound by all of the terms, covenants
and agreements contained in the Financing Agreements applicable to a US Credit
Party.  All assets acquired in the Teris
Acquisition shall be owned by a US Borrower after giving effect to the
consummation of the Acquisition.

(d)           UCC; Lien Searches.  The LC Facility Administrative Agent shall
have received and be satisfied with the results of a recent UCC lien searches
for all of the US Borrowers and tax and judgment lien searches for Clean
Harbors El Dorado, LLC and Clean Harbors Wilmington, LLC.

(e)           Organizational Documents.  Such organizational documents (including,
without limitation, board of director and shareholder resolutions, member
approvals and evidence of incumbency, including specimen signatures, of
officers of each of the US Borrowers (including the

 9
 

 

 

Guarantors)
with respect to the execution, delivery and performance of this Supplement and
each other document to be delivered by such US Borrower or Guarantor from time
to time in connection herewith and the extensions of credit hereunder as the LC
Facility Administrative Agent may reasonably request (and the LC Facility
Administrative Agent and each Lender may conclusively rely on such certificate
until it receives notice in writing from any of the US Borrowers or any of the
Guarantors to the contrary).

(f)            Officer’s Certificate.  A certificate of the chief executive office
or chief financial officer of the US Borrowers, dated as of the Term Loan
Effective Date, to the effect that (i) the representations and warranties made
by the US Borrowers in Article III hereof, and by each Guarantor in the other
Financing Agreements to which it is a party, are true and complete on and as of
the date hereof with the same force and effect as if made on and as of such
date (or, if any such representation and warranty is expressly stated to have
been made as of a specific date, as of such specific date) and (ii) all
conditions set forth in Section 2.10(b) of the Loan Agreement with respect to
the Term Loans to be made on the Term Loan Effective Date are satisfied as of
the Term Loan Effective Date, which shall include that (a) Section 4.2(b) and
(c) of the Loan Agreement shall be satisfied as if the Term Loans to be made on
the Term Loan Effective Date were Revolving Loans, (b) no Default shall have
occurred and be continuing or would result from the borrowings of the Term
Loans to be made on the Term Loan Effective Date and (c) the US Borrowers shall
be in compliance with the terms of the definition of Permitted Acquisition with
respect to the Teris Acquisition as of the Term Loan Effective Date.

(g)           Closing Date Certificate.  The US Borrowers shall have delivered to the
LC Facility Administrative Agent an originally executed Closing Date
Certificate, together with all attachments thereto.

(h)           Real Property.  The LC Facility Collateral Agent shall have
received:

(i)            with respect to each Additional Real
Property, a Mortgage encumbering such Additional Real Property executed and
acknowledged by the applicable Credit Party, and in form for recording in the
appropriate recording office for the jurisdiction where such Additional Real
Property is located, together with such certificates, affidavits,
questionnaires or returns as shall be required in connection with the recording
or filing thereof under applicable law, in each case in form and substance
reasonably satisfactory to the LC Facility Collateral Agent;

(ii)           with respect to each Additional Real
Property, an opinion of local counsel (which counsel shall be reasonably
satisfactory to such Collateral Agent) in the state in which such Additional
Real Property is located with respect to the validity and enforceability of the
form of Mortgage to be recorded in such state and such other matters as such
Collateral Agent may reasonably request, in each case in form and substance reasonably
satisfactory to such Collateral Agent;

(iii)          with respect to each Additional Real
Property, such consents, approvals, amendments, supplements, estoppels, tenant
subordination agreements or other instruments as shall reasonably be deemed
necessary to such Collateral Agent in order for the owner or holder of the fee
or leasehold interest constituting such Additional Real Property to grant the
Lien contemplated by the Mortgage with respect to such Additional Real Property;

 10
 

 

 

(iv)          with respect to each Mortgage on
Additional Real Property, a policy of title insurance (or marked-up title
insurance commitment having the effect of a policy of title insurance) insuring
the Lien of such Mortgage as a valid first mortgage lien on the Mortgaged
Property and fixtures described therein, which policy (or unconditioned
commitment therefor having the effect of a title insurance policy) (each, a “Title
Insurance Policy”) shall (A) be issued by the Title Company,
(B) to the extent necessary, include such reinsurance arrangements (with
provisions for direct access, if necessary) as shall be reasonably acceptable
to such Collateral Agent, (C) contain a “tie-in” or “cluster” endorsement, if
available under applicable law (i.e.,
policies which insure against losses regardless of location or allocated value
of the insured property up to a stated maximum coverage amount), (D) have
been supplemented by such endorsements (or where such endorsements are not
available, opinions of special counsel, architects or other professionals
reasonably acceptable to such Collateral Agent) as shall be reasonably
requested by such Collateral Agent (including endorsements on matters relating
to usury, first loss, last dollar, zoning, contiguity, revolving credit, doing
business, non-imputation, public road access, survey, variable rate, environmental
lien, address, subdivision, separate tax lot and so-called comprehensive
coverage over covenants and restrictions), and (E) contain no exceptions to
title other than exceptions acceptable to such Collateral Agent;

(v)           with respect to each Additional Real
Property, such affidavits, certificates, information (including financial data)
and instruments of indemnification (including a so-called “gap”
indemnification) as shall be required to induce the Title Company to issue the
Title Insurance Policy/ies and endorsements contemplated above;

(vi)          with respect to each Additional Real
Property, evidence reasonably acceptable to such Collateral Agent of payment by
the applicable Credit Party of all Title Insurance Policy premiums, search and
examination charges, escrow charges and related charges, mortgage recording
taxes, fees, charges, costs and expenses required for the recording of the
Mortgage and issuance of the Title Policy referred to above;

(vii)         with respect to each Additional Real
Property, copies of all Leases in which Parent or any Subsidiary holds the
lessor’s interest or other agreements relating to possessory interests, if
any.  To the extent any of the foregoing
affect any Additional Real Property, such agreement shall be subordinate to the
Lien of the Mortgage to be recorded against such Additional Real Property,
either expressly by its terms or pursuant to a subordination, non-disturbance
and attornment agreement, and shall otherwise be acceptable to such Collateral
Agent;

(viii)        with respect to each Additional Real
Property, each Credit Party shall have made all notifications, registrations
and filings, to the extent required by, and in accordance with, all
Governmental Real Property Disclosure Requirements applicable to such
Additional Real Property;

(ix)           with respect to each Additional Real
Property, a Survey except for any such Additional Real Property for which the
LC Facility Administrative Agent
shall consent to the delivery of a Survey following the Term Loan Effective
Date or waive the requirement for a Survey;

(x)            a completed Federal Emergency
Management Agency Standard Flood Hazard Determination, in form and substance
reasonably satisfactory to the LC Facility Administrative Agent, with respect
to each Additional Real Property; and

 11
 

 

 

(xi)           with respect to each Mortgage
Amendment previously delivered by the US Credit Parties under the Loan
Agreement with respect to any Real Property (other than the Additional Real
Properties), opinions of local counsel to the Credit Parties, which opinions
(x) shall be addressed to the LC Facility Collateral Agent and the Lenders,
(y) shall cover the enforceability of the respective Mortgage as amended
by the Mortgage Amendment and such other matters incident to the transactions
contemplated herein as the LC Facility Collateral Agent may reasonably request
and (z) shall be in form and substance reasonably satisfactory to the LC
Facility Collateral Agent.

(i)            Personal Property Collateral.  In order to create in favor of LC Facility
Collateral Agent, for the benefit of Secured Parties, a valid, perfected first
priority security interest in the personal property Collateral, LC Facility
Collateral Agent shall have received:

(i)            evidence satisfactory to LC Facility
Collateral Agent of the compliance by each Credit Party of their obligations
under the Amended and Restated Security Agreement and the other Security
Documents (including, without limitation, their obligations to execute and
deliver UCC financing statements, originals of securities, instruments and chattel
paper and any agreements governing deposit and/or securities accounts as provided
therein); and

(ii)           a Perfection Certificate Supplement
dated as of the Term Loan Effective Date.

(j)            Insurance.  The US Borrowers shall have insurance
complying with the requirement of Section 9.5 of the Loan Agreement in place
and in full force and effect, and the LC Facility Administrative Agent shall
each have received a certificate from the US Borrowers’ insurance broker reasonably
satisfactory to them stating that such insurance is in place and in full force
and effect, including insurance coverage of the Additional US Borrowers.

(k)           Opinions of Counsel to US
Borrowers and the Guarantors.  The LC
Facility Administrative Agent shall have received (i) an opinion, dated
the Term Loan Effective Date, of Davis, Malm & D’Agostine, P.C., counsel to
the US Borrowers and each Guarantor, covering such matters as the LC Facility
Administrative Agent may reasonably request, and (ii) opinions of such other
local counsel to the US Credit Parties as the LC Facility Administrative Agent
shall reasonably deem appropriate.

(l)            Fees and Expenses.  The LC Facility Administrative Agent and the
Arranger shall have received all fees and other amounts due and payable on or
prior to the Term Loan Effective Date, including, to the extent invoiced,
reimbursement or payment of all out-of-pocket expenses (including, without
limitation, the fees, charges and disbursements of Cahill Gordon & Reindel LLP, counsel for the LC Facility
Administrative Agent and the Arranger and all local counsel) required to be
reimbursed or paid by the US Borrowers hereunder or under the Loan Agreement.

(m)          Other Documents.  Such other documents as the LC Facility
Administrative Agent, any Term Loan Lender or the Arranger may reasonably request.

 12
 

 

 

ARTICLE V

MISCELLANEOUS

Section 5.01.          Security.  Each of the Term Loan Lenders and the US
Borrowers hereby agree that (a) the Term Loans made pursuant to this
Supplement will constitute part of the LC Facility Obligations, in accordance
with the definition thereof, and accordingly shall be secured on a pari passu
basis by the Collateral securing the LC Facility, and shall be guaranteed by
the Guarantors to the same extent as the LC Facility and (b) the Term Loan
Lenders shall be LC Facility Secured Parties, in accordance with the definition
thereof.

Section 5.02.          Counterparts; Integration;
Effectiveness.  This Supplement may
be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which
when taken together shall constitute a single contract.  This Supplement shall become effective when
this Supplement shall have been executed by the LC Facility Administrative
Agent and when the LC Facility Administrative Agent shall have received
counterparts hereof and thereof which, when taken together, bear the signatures
of each of the other parties hereto and thereto, and thereafter shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. 
Delivery of an executed counterpart of a signature page of this
Supplement by telecopy shall be effective as delivery of a manually executed
counterpart of this Supplement.

Section 5.03.          Governing Law.  This Supplement shall be governed by, and
construed in accordance with, by the internal laws of The State of New York
(without giving effect to principles of conflicts of law).

Section 5.04.          Financing Agreements.  Except as expressly set forth herein, this Supplement
shall not by implication or otherwise limit, impair, constitute a waiver of, or
otherwise affect the rights and remedies of any party under any Financing
Agreement.  This Supplement shall be
deemed to be a Financing Agreement.

Section 5.05.          Headings.  Article and Section headings used herein are
for convenience of reference only, are not part of this Supplement and shall
not affect the construction of, or be taken into consideration in interpreting,
this Supplement.

Section 5.06.          Amendment or Waiver.  All amendments, modifications, waiver or discharges
(orally or by course of conduct) of this Supplement shall be subject to the
provisions of Section 11.3 of the Loan Agreement.  All amendments, waivers or other
modifications of any of the Financing Agreements made in accordance therewith
shall be applicable to the Term Loan Lenders.

Section 5.07.          Assignments and Participations.  The Term Loans of the Term Loan Lenders shall
be assignable in accordance with Section 12.6(c) of the Loan Agreement, and
participations in the Term Loans may be granted in accordance with Section 12.9
of the Loan Agreement.

 13
 

 

 

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

	
   

  	
  CLEAN HARBORS, INC.

  
	
   

  	
  ALTAIR DISPOSAL
  SERVICES, LLC

  
	
   

  	
  BATON ROUGE
  DISPOSAL, LLC

  
	
   

  	
  BRIDGEPORT
  DISPOSAL, LLC

  
	
   

  	
  CH INTERNATIONAL
  HOLDINGS, INC.

  
	
   

  	
  CLEAN HARBORS
  ANDOVER, LLC

  
	
   

  	
  CLEAN HARBORS
  ANTIOCH, LLC

  
	
   

  	
  CLEAN HARBORS
  ARAGONITE, LLC

  
	
   

  	
  CLEAN HARBORS
  ARIZONA, LLC

  
	
   

  	
  CLEAN HARBORS OF
  BALTIMORE, INC.

  
	
   

  	
  CLEAN HARBORS
  BATON ROUGE, LLC

  
	
   

  	
  CLEAN HARBORS
  BDT, LLC

  
	
   

  	
  CLEAN HARBORS
  BUTTONWILLOW, LLC

  
	
   

  	
  CLEAN HARBORS
  CHATTANOOGA, LLC

  
	
   

  	
  CLEAN HARBORS
  COFFEYVILLE, LLC

  
	
   

  	
  CLEAN HARBORS
  COLFAX, LLC

  
	
   

  	
  CLEAN HARBORS
  DEER PARK, L.P.

  
	
   

  	
  CLEAN HARBORS
  DEER TRAIL, LLC

  
	
   

  	
  CLEAN HARBORS
  DISPOSAL SERVICES, INC.

  
	
   

  	
  CLEAN HARBORS
  FINANCIAL SERVICES

  
	
   

  	
  COMPANY

  
	
   

  	
  CLEAN HARBORS
  FLORIDA, LLC

  
	
   

  	
  CLEAN HARBORS
  GRASSY MOUNTAIN, LLC

  
	
   

  	
  CLEAN HARBORS
  KANSAS, LLC

  
	
   

  	
  CLEAN HARBORS
  LAPORTE, L.P.

  
	
   

  	
  CLEAN HARBORS
  LAUREL, LLC

  
	
   

  	
  CLEAN HARBORS
  LONE MOUNTAIN, LLC

  
	
   

  	
  CLEAN HARBORS
  LONE STAR CORP.

  
	
   

  	
  CLEAN HARBORS
  LOS ANGELES, LLC

  
	
   

  	
  CLEAN HARBORS
  (MEXICO), INC.

  
	
   

  	
  CLEAN HARBORS OF
  TEXAS, LLC

  
	
   

  	
  CLEAN HARBORS
  PECATONICA, LLC

  
	
   

  	
  CLEAN HARBORS
  PLAQUEMINE, LLC

  
	
   

  	
  CLEAN HARBORS
  PPM, LLC

  
	
   

  	
  CLEAN HARBORS
  REIDSVILLE, LLC

  
	
   

  	
  CLEAN HARBORS
  SAN JOSE, LLC

  
	
   

  	
  CLEAN HARBORS
  TENNESSEE, LLC

  
	
   

  	
  CLEAN HARBORS
  WESTMORLAND, LLC

  
	
   

  	
  CLEAN HARBORS
  WHITE CASTLE, LLC

  
	
   

  	
  CROWLEY
  DISPOSAL, LLC

  
	
   

  	
  DISPOSAL
  PROPERTIES, LLC

  
	
   

  	
  GSX DISPOSAL,
  LLC

  
	
   

  	
  HARBOR MANAGEMENT
  CONSULTANTS, INC.

  
	
   

  	
  HARBOR
  INDUSTRIAL SERVICES TEXAS, L.P.

  
	
   

  	
  HILLIARD
  DISPOSAL, LLC

  
	
   

  	
  NORTHEAST
  CASUALTY REAL PROPERTY, LLC

  
	
   

  	
  ROEBUCK
  DISPOSAL, LLC

  

 

 14
 

 

 

	
  

  	
  SAWYER DISPOSAL
  SERVICES, LLC

  
	
   

  	
  SERVICE
  CHEMICAL, LLC

  
	
   

  	
  TULSA DISPOSAL, LLC

  
	
   

  	
  CLEAN HARBORS
  ENVIRONMENTAL SERVICES,

  INC

  
	
   

  	
  CLEAN HARBORS OF
  BRAINTREE, INC.

  
	
   

  	
  CLEAN HARBORS OF
  NATICK, INC.

  
	
   

  	
  CLEAN HARBORS
  SERVICES, INC.

  
	
   

  	
  MURPHY’S WASTE
  OIL SERVICE, INC.

  
	
   

  	
  CLEAN HARBORS
  KINGSTON FACILITY CORPORATION

  
	
   

  	
  CLEAN HARBORS OF
  CONNECTICUT, INC.

  
	
   

  	
  SPRING GROVE
  RESOURCE RECOVERY, INC.

  
	
   

  	
  CLEAN HARBORS EL
  DORADO, LLC

  
	
   

  	
  CLEAN HARBORS
  WILMINGTON, LLC

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Stephen Moynihan

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Address for
  Notices to the US Credit Parties:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  42 Longwater Drive

  
	
   

  	
  Norwell, MA
  02061

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CREDIT SUISSE,
  Cayman Islands Branch,

  
	
   

  	
  as LC Facility
  Administrative Agent and LC Facility

  Collateral Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Phillip Ho

  
	
   

  	
   

  	
  Name:

  	
  Phillip Ho

  
	
   

  	
   

  	
  Title:  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Karim
  Blasetti

  
	
   

  	
   

  	
  Name:

  	
  Karim Blasetti

  
	
   

  	
   

  	
  Title:  Associate

  

 

 15
 

 

 

	
  

  	
  CREDIT SUISSE, Cayman Islands Branch,

  
	
   

  	
  as a Term Loan
  Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Phillip Ho

  
	
   

  	
   

  	
  Name:

  	
  Phillip Ho

  
	
   

  	
   

  	
  Title:  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Karim Blasetti

  
	
   

  	
   

  	
  Name:

  	
  Karim Blasetti

  
	
   

  	
   

  	
  Title:  Associate

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Acknowledged by:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  BANK OF AMERICA,
  N.A., as Revolving Facility

  Administrative Agent

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ Christopher M. O’Halloran

  
	
   

  	
   

  	
  Name:

  	
  Christopher M. O’Halloran

  
	
   

  	
   

  	
  Title:  Vice
  President

  

 

 16Exhibit
4.28G

 

JOINDER AGREEMENT

JOINDER AGREEMENT, dated
as of August 18, 2006, made by CLEAN HARBORS EL DORADO, LLC, a Delaware limited
liability company, and CLEAN HARBORS WILMINGTON, LLC, a Delaware limited
liability company, (each an “Additional US Borrower”)
in favor of (a) CREDIT SUISSE, as LC Facility Collateral Agent and LC
Facility Administrative Agent (in such capacity, the “LC
Facility Administrative Agent”) for the benefit of the LC
Facility Secured Parties (as defined in the Credit Agreement (as defined below))
and (b) BANK OF AMERICA, N.A., as administrative agent for the Revolving
Facility (in such capacity, the “Revolving Administrative
Agent” and together with the LC Facility Administrative Agent,
the “Administrative Agents”) for the
benefit of the Revolving Secured Parties (as defined in the Credit Agreement).  All capitalized terms not defined herein
shall have the meanings given to them in such Credit Agreement.

W
I  T  N  E  S  S  E  T  H:

WHEREAS, Clean Harbors,
Inc., a Massachusetts corporation (the “Parent”), the other Credit Parties, the LC
Facility Administrative Agent, Bank of America, N.A. (“BANA”),
as Revolving Administrative Agent, Banc of America Securities LLC, as sole arranger
under the Revolving Facility, BANA, as syndication agent under the LC Facility,
Credit Suisse, as sole bookrunner under the LC Facility, and Credit Suisse and
BAS, as joint lead arrangers under the LC Facility, have entered into an
Amended and Restated Loan and Security Agreement, dated as of June 30, 2004,
amended as of July 20, 2005 and amended and restated as of December 1, 2005 (as
the same may be further amended, restated, modified and/or supplemented from
time to time, the “Credit Agreement”);

WHEREAS, in connection
with the Credit Agreement, the Parent, the other Assignors, the LC Facility
Administrative Agent and U.S. Bank National Association, as trustee for the
Second Lien Note Creditors have entered into the Amended and Restated Security
Agreement, dated as of June 30, 2004 and amended and restated as of December 1,
2005 (as the same may be further amended, restated, modified and/or
supplemented from time to time, the “Security Agreement”); in favor of the LC
Facility Administrative Agent for the benefit of the Secured Parties;

WHEREAS, simultaneously
herewith, pursuant to the Credit Agreement, the Parent, each Additional US
Borrower, the other US Credit Parties and the LC Facility Administrative Agent
are entering into a Term Loan Supplement whereby, pursuant to Section 2.10 of
the Credit Agreement, certain Term Loan Lenders are willing to make Term Loans
in an aggregate principal amount of $30.0 million to the US Borrowers, which
shall include each Additional US Borrower;

WHEREAS, each Additional
US Borrower hereby confirms the grant to the Accounts Collateral Agent of the
security interests in Accounts Collateral for the benefit of itself and each
other Secured Party pursuant to Section 5.1 of the Credit Agreement;

 1
 

 

 

WHEREAS, simultaneously
herewith, pursuant to the Security Agreement, the Additional US Borrowers and
the LC Facility Administrative Agent are entering into an Assumption Agreement,
whereby, pursuant to Section 10.13 of the Security Agreement, each Additional
US Borrower is to become an Assignor under the Security Agreement from and
after the date hereof; and

WHEREAS, this Joinder
Agreement is executed and delivered pursuant to the Credit Agreement;

NOW, THEREFORE, IT IS
AGREED:

1.             Credit Agreement. 
(a) In accordance with Section 9.26 of the Credit Agreement, by
executing and delivering this Joinder Agreement, each Additional US Borrower hereby
becomes a US Borrower under the Credit Agreement from and after the date hereof
with the same force and effect as if originally a “US Borrower” under the Credit
Agreement.  Without limiting the
generality of the foregoing, each Additional US Borrower hereby expressly
agrees to observe and perform and be bound by all of the terms, covenants,
representations, warranties, and agreements contained in the Credit Agreement
which are binding upon, and to be observed or performed by, a US Borrower.

(b)           All Term Loans made pursuant to the Term Loan
Supplement are made to or for the mutual benefit, directly and indirectly, of
each of the US Borrowers and in consideration of the agreement of the other US Borrowers
to accept joint and several liability for the Obligations.  Each Additional US Borrower jointly and
severally, hereby irrevocably and unconditionally accepts, not merely as a
surety but also as a co-debtor, joint and several and direct and primary
liability for the full and indefeasible payment when due and performance of all
Obligations and for the prompt and full payment and performance of all of the
promises, covenants, representations, and warranties made or undertaken by any
Credit Party under the Financing Agreements and each Additional US Borrower
agrees that such liability is independent of the duties, obligations, and
liabilities of each of the joint and several US Borrowers.  In furtherance of the foregoing, each Additional
US Borrower jointly and severally, absolutely and unconditionally guarantees to
(i) the Revolving Secured Parties the full and indefeasible payment and
performance when due of all Revolving Obligations and (ii) LC Facility Secured
Parties the full and indefeasible payment and performance when due of all LC
Facility Obligations.

(c)           Any Secured Party may enforce
its rights under the Credit Agreement independently as to each Credit Party and
independently of any other remedy or security. 
Any Secured Party at any time may have or hold in connection with the
Obligations, and it shall not be necessary for any Secured Party to marshal
assets in favor of any Credit Party or to proceed upon or against or exhaust
any security or remedy before proceeding to enforce the Credit Agreement.  Each Additional US Borrower expressly waives
any right to require any Secured Party to marshal assets in favor of any Credit
Party of the Obligations of such Additional US Borrower or to proceed against
any other US Credit Party, and agrees that Accounts Collateral Agent may
proceed against US Credit Parties or any US Accounts Collateral in such order
as Accounts Collateral Agent shall determine in its sole and absolute discretion.

 2
 

 

 

(d)           Any Secured Party may each file a
separate action or actions against any Credit Party with respect to such Credit
Party’s Obligations, whether such action is brought or prosecuted with respect
to any security or against any guarantor of such Credit Party, or whether any
other person is joined in any such action or actions.  Each Additional US Borrower agrees that any
of the Secured Parties and any Credit Party and any affiliate of any Credit
Party may deal with each other in connection with the Obligations or otherwise,
or alter any contracts or agreements now or hereafter existing between any of
them, in any manner whatsoever, all without in any way altering or affecting
the continuing efficacy of this Agreement. 
Each Additional US Borrower, as a joint and several Credit Party and
guarantor hereunder with respect to such Additional US Borrower’s Obligations,
expressly waives the benefit of any statute of limitations affecting its joint
and several liability and guarantee hereunder (but not its primary liability)
or the enforcement of the Obligations of such Additional US Borrower or any
rights of any Secured Party created or granted herein.

(e)           Each Additional US Borrower
acknowledges that the obligations of such US Credit Party undertaken herein
might be construed to consist, at least in part, of the guarantee of
obligations of persons other than such US Credit Party (including the other US
Credit Parties) and, in full recognition of that fact and in full recognition
of the joint and several and direct and primary liability of each Additional US
Borrower hereunder for the Obligations, each Additional US Borrower consents
and agrees that (A) in the case of the US Revolving Obligations, the Revolving
Administrative Agent and Revolving Lenders, (B) in the case of the
Canadian Obligations, the Canadian Agent and the Canadian Lender and (C) in the
case of LC Facility Obligations, the LC Facility Administrative Agent, LC
Facility Lenders and Term Loan Lenders, may, at any time and from time to time,
without notice or demand (except as provided in and in accordance with the
terms of the Credit Agreement), whether before or after any actual or purported
termination, repudiation or revocation of the Credit Agreement by any US Credit
Party, and without affecting the enforceability or continuing effectiveness of
the Credit Agreement as to each US Credit Party (including each Additional US
Borrower):  (i) increase, extend, or
otherwise change the time for payment or the terms of the Obligations or any
part thereof; (ii) supplement, restate, modify, amend, increase, decrease, or
waive, or enter into or give any agreement, approval or consent with respect to
any of the Obligations or any part thereof, or any of the Financing Agreements
or any additional security or guarantees, or any condition, covenant, default,
remedy, right, representation, or term thereof or thereunder; (iii) accept new
or additional instruments, documents, or agreements in exchange for or relative
to any of the Financing Agreements or the Obligations or any part thereof; (iv)
accept partial payments on any of the Obligations; (v) receive and hold
additional security or guarantees for the Obligations or any part thereof; (vi)
release, reconvey, terminate, waive, abandon, fail to perfect, subordinate,
exchange, substitute, transfer, or enforce any security or guarantees, and
apply any security and direct the order or manner of sale thereof as such
Administrative Agent in its sole and absolute discretion may determine; (vii)
release any person from any personal liability with respect to the Obligations
or any part thereof; (viii) settle, release on terms satisfactory to such
Administrative Agent or by operation of applicable laws or otherwise liquidate
or enforce any Obligations and any security therefor or guaranty thereof,
respectively, in any manner, consent to the transfer of any security and bid
and purchase at any sale; or (ix) consent to the merger, change, or any other restructuring
or termination of the corporate or partnership existence of any US Credit
Party,

 3
 

 

 

and correspondingly restructure the Obligations, and
any such merger, change, restructuring, or termination shall not affect the
liability of any US Credit Party or the continuing effectiveness hereof, or the
enforceability hereof with respect to all or any part of the Obligations.

(f)            Each Additional US Borrower (as a
Credit Party) expressly waives any and all defenses now or hereafter arising or
asserted by reason of (i) any disability or other defense of any other Credit
Party with respect to such Credit Party’s Obligations; (ii) the unenforceability
or invalidity of any security or guaranty for such Credit Party’s Obligations
or the lack of perfection or continuing perfection or failure of priority of
any security for such Credit Party’s Obligations; (iii) the cessation for any
cause whatsoever of the liability of such Credit Party (other than by reason of
the full payment and performance of all of such Credit Party’s Obligations);
(iv) any failure of any Secured Party to marshal assets in favor of any Credit
Party; (v) any failure of any Secured Party to give notice to any Credit Party
of sale or other disposition of Collateral of another Credit Party or any
defect in any notice that may be given in connection with any such sale or
disposition of Collateral of any Credit Party securing the Obligations of such
Credit Party; (vi) any failure of any Secured Party to comply with applicable
law in connection with the sale or other disposition of any Collateral or other
security of any Credit Party, for any Obligations of such Credit Party,
including any failure of any Secured Party to conduct a commercially reasonable
sale or other disposition of any Collateral or other security of any other
Credit Party for any Obligations of such Credit Party; (vii) any act or
omission of any Secured Party or others that directly or indirectly results in
or aids the discharge or release of any other Credit Party or any Obligations
of any other Credit Party or any security or guaranty therefor by operation of
law or otherwise; (viii) any law which provides that the obligation of a surety
or guarantor must neither be larger in amount nor in other respects more
burdensome than that of the principal or which reduces a surety’s or guarantor’s
obligation in proportion to the principal obligation; (ix) any failure of any
Secured Party to file or enforce a claim in any bankruptcy or other proceeding
with respect to any Credit Party; (x) the avoidance of any Lien or security
interest in assets of any other Credit Party in favor of any Secured Party for
any reason; or (xi) any action taken by any Secured Party that is authorized by
this section or any other provision of any Financing Agreement.  Until such time, if any, as all of the
Obligations of any Additional US Borrower have been indefeasibly paid and
performed in full and no portion of any commitment of any Secured Party to such
Credit Party under any Financing Agreement remains in effect (or in the case of
the Canadian Borrowers, prior to the Discharge of Revolving Obligations), such
Credit Party’s rights of subrogation, contribution, reimbursement, or indemnity
against the other Credit Parties shall be fully and completely subordinated to
the indefeasible repayment in full of all such Credit Parties’ Obligations, and
each Additional US Borrower expressly waives any right to enforce any remedy
that it now has or hereafter may have against any other Person and waives the
benefit of, or any right to participate in, any Collateral now or hereafter
held by any Secured Party.

(g)           To the fullest extent permitted by
applicable law, each Additional US Borrower expressly waives and agrees not to
assert, any and all defenses in its favor based upon an election of remedies by
any Secured Party which destroys, diminishes, or affects such Additional US
Borrower’s subrogation rights against the other Credit Parties and/or (except
as explicitly provided for herein) any rights to proceed against each other
Credit Party, or any

 4
 

 

 

other party liable to any Secured Party, for
reimbursement, contribution, indemnity, or otherwise.

(h)           Each Additional US Borrower warrants and
agrees that each of the waivers and consents set forth herein are made after
consultation with legal counsel and with full knowledge of their significance
and consequences, with the understanding that events giving rise to any defense
or right waived may diminish, destroy, or otherwise adversely affect rights
which such Additional US Borrower otherwise may have against the other Credit
Parties or the Secured Parties, or others, or against the Collateral, and that,
under the circumstances, the waivers and consents herein given are
reasonable.  If any of the waivers or consents
herein are determined to be contrary to any applicable law or public policy,
such waivers and consents shall be limited to the extent required in order to
be enforceable under applicable law.

(i)            The foregoing affirmations and
covenants of each Additional US Borrower are in addition to, and not in lieu
of, those set forth in the Credit Agreement, including, without limitation,
Section 14 thereof.

2.             Effect on the Credit Agreement.  On and after the effectiveness of this Joinder
Agreement, each reference in the Credit Agreement and the other Financing Agreements
to the “US Borrowers,” or words to that effect shall mean and be a reference to
the Parent, each of the Credit Parties signatory to the Credit Agreement and
each Additional US Borrower for all purposes of the Credit Agreement and each
Financing Agreement.

3.             Grant of Security Interests in Accounts Collateral.  To secure payment and performance of all
Obligations, each Additional US Borrower hereby confirms the grant to the
Accounts Collateral Agent for the benefit of itself and each other Secured
Party pursuant to Section 5 of the Credit Agreement and in furtherance thereof
hereby grants, subject to the terms and conditions of such Section 5, to the
Accounts Collateral Agent for the benefit of itself and each other Secured
Party, a continuing security interest in, a Lien upon, and a right of set off
against, all right, title and interest of such Additional US Borrower in all of
the Accounts Collateral, whether now owned or hereafter acquired or existing,
and wherever located.

4.             Governing Law; Choice of Forum; Service of Process;
Jury Trial Waiver.  The validity,
interpretation and enforcement of this Joinder Agreement and the other
Financing Agreements (except as otherwise expressly provided therein) and any
dispute arising out of the relationship between the parties hereto, whether in
contract, tort, equity or otherwise, shall be governed by the internal laws of
The State of New York (without giving effect to principles of conflicts of
law).

Each Additional US
Borrower and each Administrative Agent irrevocably consents and submits to the
non-exclusive jurisdiction of the Supreme Court of the State of New York
sitting in New York County and of the United States District Court of the
Southern District of New York, and any appellate court from any thereof,
whichever the Administrative Agents may elect, and in addition, each Additional
US Borrower irrevocably consents and submits to the non-exclusive jurisdiction
of the Ontario Superior Court of Justice, in each

 5
 

 

 

case, whichever the Administrative Agents may elect
and waive any objection based on venue or forum non conveniens with respect to
any action instituted therein arising under this Joinder Agreement or any of
the other Financing Agreements or in any way connected with or related or
incidental to the dealings of the parties hereto in respect of this Joinder
Agreement or any of the other Financing Agreements or the transactions related
hereto or thereto, in each case whether now existing or hereafter arising, and
whether in contract, tort, equity or otherwise, and agree that any dispute with
respect to any such matters shall be heard only in the courts described above
(except that Accounts Collateral Agent (with respect to the Accounts
Collateral) and LC Facility Collateral Agent (with respect to the Non-Accounts
Collateral) and Lenders shall have the right to bring any action or proceeding
against any Credit Party or its property in the courts of any other
jurisdiction which such Collateral Agent deems necessary or appropriate in
order to realize on the applicable Collateral or to otherwise enforce its
rights against any Credit Party or its property).

Each Additional US
Borrower hereby waives personal service of any and all process upon it and
consents that all such service of process may be made by certified mail (return
receipt requested) directed to its address set forth herein and service so made
shall be deemed to be completed five (5) days after the same shall have been so
deposited in the US mails, or, at an Administrative Agent’s option, by service
upon such Additional US Borrower in any other manner provided under the rules
of any such courts.  Within thirty (30)
days after such service, Additional US Borrowers shall appear in answer to such
process, failing which such Additional US Borrower shall be deemed in default
and judgment may be entered by Lender against such Additional US Borrower for
the amount of the claim and other relief requested.

EACH ADDITIONAL US
BORROWER AND EACH ADMINISTRATIVE AGENT HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY
OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (i) ARISING UNDER THIS JOINDER AGREEMENT
OR ANY OF THE OTHER FINANCING AGREEMENTS OR (ii) IN ANY WAY CONNECTED WITH OR
RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS
AGREEMENT OR ANY OF THE OTHER FINANCING AGREEMENTS OR THE TRANSACTIONS RELATED
HERETO OR THERETO IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND
WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE. 
EACH ADDITIONAL US BORROWER AND EACH ADMINISTRATIVE AGENT EACH HEREBY
AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT ANY CREDIT PARTY OR ANY
LENDER MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS JOINDER AGREEMENT
WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE
WAIVER OF THEIR RIGHT TO TRIAL BY JURY.

5.             Financing Agreement.  This Joinder Agreement shall constitute a Financing
Agreement.

 6
 

 

 

IN WITNESS WHEREOF, the
undersigned has caused this Joinder Agreement to be duly executed and delivered
as of the date first above written.

	
   

  	
  CLEAN HARBORS EL DORADO, LLC

  
	
   

  	
  CLEAN HARBORS WILMINGTON, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
     /s/ Stephen Moynihan

  
	
   

  	
   

  	
  Name:

  	
  Stephen Moynihan

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
  Acknowledged:

  	
   

  
	
   

  	
   

  
	
  REVOLVING ADMINISTRATIVE AGENT,

  	
   

  
	
  ACCOUNTS COLLATERAL AGENT AND

  	
   

  
	
  US REVOLVING LENDER

  	
   

  
	
   

  	
   

  
	
  BANK OF AMERICA, N.A.,

  	
   

  
	
  Individually and as Agent

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/ Christopher M.
  O’Halloran

  	
   

  	
   

  
	
  Name:  Christopher
  M. O’Halloran

  	
   

  
	
  Title:  Vice
  President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  CANADIAN COLLATERAL AGENT AND

  	
   

  
	
  CANADIAN LENDER:

  	
   

  
	
   

  	
   

  
	
  BANK OF AMERICA,
  N.A., Canada Branch, as

  successor in interest to BABC Global Finance Inc.,

  	
   

  
	
  Individually and as Agent

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/ Nelson Lam

  	
   

  	
   

  
	
  Name:  Nelson
  Lam

  	
   

  
	
  Title:  Vice
  President

  	
   

  

 

 7
 

 

 

	
  LC FACILITY
  ADMINISTRATIVE AGENT

  	
   

  
	
  AND LC FACILITY COLLATERAL AGENT

  	
   

  
	
   

  	
   

  
	
  CREDIT SUISSE, Cayman Islands
  Branch

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/ Phillip Ho

  	
   

  	
   

  
	
  Name:  Phillip
  Ho

  	
   

  
	
  Title:  Director

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/ Karim Blasetti

  	
   

  	
   

  
	
  Name:  Karim
  Blasetti

  	
   

  
	
  Title:  Associate

  	
   

  

 

 8
 

 

 

	
  CREDIT SUISSE, Cayman Islands Branch, in

  its capacity as an LC Facility Lender

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/ Phillip Ho

  	
   

  	
   

  
	
  Name:  Phillip
  Ho

  	
   

  
	
  Title:  Director

  	
   

  
	
   

  	
   

  
	
  By:

  	
      /s/ Karim Blasetti

  	
   

  	
   

  
	
  Name:  Karim
  Blasetti

  	
   

  
	
  Title:  Associate

  	
   

  

 

 9

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