Document:

EX-10.37

Exhibit 10.37

NOVELIS NO. 1 LIMITED PARTNERSHIP

JOINDER AGREEMENT

     This JOINDER AGREEMENT, dated as of May 14, 2007, is delivered pursuant to Section
7.10 (Additional Grantors) of the Pledge and Security Agreement, dated as of January 7,
2005, by Novelis Inc. (the “Canadian Borrower”), and the Subsidiaries of the Canadian
Borrower listed on the signature pages thereof in favour of the Citicorp North America,
Inc., as agent for the Secured Parties referred to therein (the “Pledge and Security
Agreement”). Capitalized terms used herein but not defined herein are used with the
meanings given them in the Pledge and Security Agreement.

     By executing and delivering this Joinder Agreement, the undersigned, as provided
in Section 7.10 (Additional Grantors) of the Pledge and Security Agreement, hereby
becomes a party to the Pledge and Security Agreement as a Grantor thereunder with the
same force and effect as if originally named as a Grantor therein and, without limiting
the generality of the foregoing, hereby grants to the Administrative Agent, as
collateral security for the full, prompt and complete payment and performance when due
(whether at stated maturity, by acceleration or otherwise) of the Secured Obligations
of the undersigned, hereby collaterally assigns, mortgages, pledges and hypothecates to
the Administrative Agent and grants to the Administrative Agent a Lien on and security
interest in, all of its right, title and interest in, to and under the Collateral of
the undersigned and expressly assumes all obligations and liabilities of a Grantor
thereunder.

     The information set forth in Annex 1-A is hereby added to the information set
forth in Schedules 1 through 6 to the Pledge and Security Agreement. By acknowledging
and agreeing to this Joinder Agreement, the undersigned hereby agrees that this Joinder
Agreement may be attached to the Pledge and Security Agreement and that the Pledged
Collateral listed on Annex 1-A to this Pledge Amendment shall be and become part of the
Collateral referred to in the Pledge and Security Agreement and shall secure all
Secured Obligations of the undersigned.

     The undersigned hereby represents and warrants that each of the representations
and warranties contained in Article III (Representations and Warranties) of the Pledge
and Security Agreement applicable to it is true and correct on and as the date hereof
as if made on and as of such date.

[Signature page follows.]

 

 

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

	 	 	 	 	 
	 	NOVELIS NO. 1 LIMITED PARTNERSHIP, 

acting by its general partner 4260848 Canada Inc.

 	 
	 	By  	/s/ Orville Lunking
 	 
	 	 	Name:  	Orville Lunking  	 
	 	 	Title:  	Attorney-in-Fact 	 
	 

Novelis No. 1 Limited Partnership

Joinder Agreement — Signature Page

 

 

	 	 	 	 	 
	ACKNOWLEDGED AND AGREED 

as of the date first above written:

CITICORP NORTH AMERICA, INC., 

as Administrative Agent

 	 	 
	By  	/s/ Arnold Y. Wong
 	 	 
	 	Name:  	Arnold Y. Wong 	 	 
	 	Title:  	Vice President 	 	 
	 

Novelis No. 1 Limited Partnership

Joinder Agreement — Signature Page

 

 

Annex 1-A

Supplements to Pledge and Security Agreement Schedules

(See attached).

 

 

Schedule 1

Jurisdiction of Organization; Principle Executive Office

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Location of chief
	 	 	 	 	Jurisdiction of	 	 	 	 	 	executive office
	 	 	 	 	organization as of	 	 	 	 	 	as of date of
	 	 	Former legal	 	date of agreement	 	 	 	 	 	agreement and
	Grantor’s legal	 	names in the	 	and any other in	 	Organizational	 	any other in the
	name	 	past 5 years	 	the past 5 years	 	ID number	 	past 5 years
	Novelis No. 1
Limited
Partnership

	 	• None
	 	Jurisdiction of
organization as of
date of agreement:

Quebec

Other jurisdiction(s)
of organization in
past 5 years:

None
	 	33	 	 	 	Chief Executive
Office Location as
of date of
agreement: 

2040 Fay Street
Jonquiere, Quebec

Other Chief
Executive Office
Locations in past
5 years: 

None

Novelis No. 1 Limited Partnership

Supplemental Schedules

 

 

Schedule 2

Pledged Collateral

	 	 	 
	 
	 	 
	List of Pledged Stock:
	 	% of issued and outstanding
	 
	 	equity of all classes of each issuer:
	 
	 	 
	• None
	 	None 
	 
	 	 
	List of Pledged Debt Instruments:
	 
	 	 
	• None 
	 	None 

Novelis No. 1 Limited Partnership

Supplemental Schedules

 

 

Schedule 3

Filings

	•	 	US Patent and Trademark Office

Novelis No. 1 Limited Partnership

Supplemental Schedules

 

 

Schedule 4

Location of Inventory and Equipment

Location of inventory and/or equipment:

	 	•	 	2040 Fay Street, Jonquiere, Quebec

Inventory at third-party locations:

	 	•	 	None

Locations of inventory and/or equipment for five preceding years:

	 	•	 	None

Novelis No. 1 Limited Partnership

Supplemental Schedules

 

 

Schedule 5

Intellectual Property

Trademark Registrations

	A.	 	REGISTERED TRADEMARKS

	 	 	 	 	 	 	 
	Trademark	 	 	 	 	 	Registration
	Name	 	Country Name	 	Serial Number	 	Number
	NOVELIS	 	Australia
	 	1080042	 	862070
	NOVELIS	 	Belarus
	 	A0002432	 	862070
	NOVELIS	 	Switzerland
	 	A0002432	 	862070
	NOVELIS	 	Chile
	 	714240	 	754699
	NOVELIS	 	China (Peoples
Republic)
	 	A0002432	 	862070
	NOVELIS	 	Ecuador
	 	 	 	3067-06
	NOVELIS	 	Croatia
	 	A0002432	 	862070
	NOVELIS	 	Iceland
	 	A0002432	 	862070
	NOVELIS	 	Jordan
	 	84045	 	84045
	NOVELIS	 	Japan
	 	A0002432	 	862070
	NOVELIS	 	Cambodia
	 	23898/05	 	23124/06
	NOVELIS	 	Korea, Republic of
	 	862070	 	862070
	NOVELIS	 	Lebanon
	 	104380	 	104380
	NOVELIS	 	Liechtenstein
	 	A0002432	 	862070
	NOVELIS	 	Mexico
	 	756681	 	919009
	NOVELIS	 	Norway
	 	A0002432	 	862070
	NOVELIS	 	New Zealand
	 	734806	 	734806
	NOVELIS	 	Panama
	 	147348	 	147348
	NOVELIS	 	Peru
	 	255168	 	113730
	NOVELIS	 	Paraguay
	 	28971/2005	 	288689
	NOVELIS	 	Russian Federation
	 	A0002432	 	862070
	NOVELIS	 	Taiwan
	 	94042520	 	1211172
	NOVELIS	 	Ukraine
	 	A0002432	 	862070
	NOVELIS	 	United States of
America
	 	78/651851	 	3,119,944
	NOVELIS	 	Madrid Agreement
	 	A0002432	 	862070
	NOVELIS	 	European
Community
	 	4032901	 	4032901
	NOVELIS & DEVICE	 	Australia
	 	1080049	 	862083
	NOVELIS      & DEVICE	 	Belarus
	 	A0002433	 	862070
	NOVELIS      & DEVICE	 	Switzerland
	 	A0002433	 	862070
	NOVELIS      & DEVICE	 	Chile
	 	714241	 	754700
	NOVELIS      & DEVICE	 	China (Peoples
Republic)
	 	A0002433	 	862083
	NOVELIS      & DEVICE	 	Ecuador
	 	 	 	3066-06
	NOVELIS      & DEVICE	 	Croatia
	 	A0002433	 	862070

Novelis No. 1 Limited Partnership

Supplemental Schedules

 

 

	 	 	 	 	 	 	 
	Trademark	 	 	 	 	 	Registration
	Name	 	Country Name	 	Serial Number	 	Number
	NOVELIS & DEVICE	 	Iceland
	 	A0002433	 	862070
	NOVELIS      & DEVICE	 	Jordan
	 	84043	 	84043
	NOVELIS          & DEVICE	 	Japan
	 	A0002433	 	862070
	NOVELIS      &          DEVICE	 	Cambodia
	 	23899/05	 	23125/06
	NOVELIS      &          DEVICE	 	Korea, Republic of
	 	862083	 	862083
	NOVELIS      &          DEVICE	 	Lebanon
	 	104381	 	104381
	NOVELIS      &          DEVICE	 	Liechtenstein
	 	A0002433	 	862070
	NOVELIS      &          DEVICE	 	Mexico
	 	756682	 	921297
	NOVELIS      &          DEVICE	 	Norway
	 	A0002433	 	862083
	NOVELIS      &          DEVICE	 	New Zealand
	 	734807	 	734807
	NOVELIS      &          DEVICE	 	Panama
	 	147349	 	147349
	NOVELIS      &          DEVICE	 	Peru
	 	255479	 	113731
	NOVELIS      &          DEVICE	 	Paraguay
	 	28972/2005	 	288669
	NOVELIS      &          DEVICE	 	Russian Federation
	 	A0002433	 	862070
	NOVELIS      &          DEVICE	 	Taiwan
	 	94042521	 	1211173
	NOVELIS      &          DEVICE	 	Ukraine
	 	A0002433	 	862070
	NOVELIS      &          DEVICE	 	United States of
America
	 	78/671159	 	3,120,057
	NOVELIS      &          DEVICE	 	Madrid Agreement
	 	A0002433	 	862070
	NOVELIS      &          DEVICE	 	European
Community
	 	4133807	 	4133807
	NOVELIS DEVICE (ONLY)	 	European
Community
	 	4133948	 	4133948

	B.	 	TRADEMARK APPLICATIONS FOR REGISTRATION

	 	 	 	 	 	 	 
	Trademark	 	 	 	 	 	Registration
	Name	 	Country Name	 	Serial Number	 	Number
	NOVELIS	 	Malaysia
	 	 	 	 
	NOVELIS	 	Thailand
	 	602606	 	 
	NOVELIS	 	South Africa
	 	2005/18209	 	 
	NOVELIS & DEVICE	 	Malaysia
	 	 	 	 
	NOVELIS       & DEVICE	 	Thailand
	 	602607	 	 
	NOVELIS       &       DEVICE	 	South Africa
	 	2005/18210	 	 

	C.	 	TRADEMARK LICENSES

     1. Nonexclusive Trademark License Agreement between Novelis Inc. (as Licensor) and Novelis
Corporation, Novelis UK Ltd., Novelis Automotive UK Ltd., Novelis Europe Holdings Ltd., Novelis
Switzerland S.A., Novelis Technology S.A., Novelis Luxembourg S.A., Novelis Benelux NV, Novelis
Aluminium Holdings Company, Novelis Deutschland GmbH, Novelis Specialites France (S.A.), Novelis
PAE (S.A.S.), Novelis Foil France (S.A.S.) Novelis Lamines France (S.A.S.), Novelis Italia S.r.l.
and Novelis de Mexico S.A. de C.V. (as Licensees) for the trade name Novelis and certain other
brands, marks and logos, entered into on January 6, 2005 and subsequently assigned by Novelis Inc.
to Novelis No. 1 Limited Partnership on May 9, 2007.

Novelis No. 1 Limited Partnership

Supplemental Schedules

 

 

Schedule 6

Bank Accounts; Control Accounts

List of deposit accounts:

	 	•	 	None

List of security accounts:

	 	•	 	NoneEX-10.38

Exhibit 10.38

JOINDER AGREEMENT

     Reference is made to the Credit Agreement, dated as of July 6, 2007 (as amended, amended and
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”),
among NOVELIS INC., a corporation formed under the Canada Business Corporations Act, NOVELIS
CORPORATION, a Texas corporation, AV ALUMINUM INC., a corporation formed under the Canada Business
Corporations Act, the Subsidiary Guarantors (such term and each other capitalized term used but not
defined herein having the meaning given to it in the Credit Agreement), the Lenders, UBS AG,
STAMFORD BRANCH, as administrative agent for the Lenders, UBS AG, STAMFORD BRANCH, as collateral
agent for the Secured Parties, the other agents party thereto, and ABN AMRO INCORPORATED and UBS
SECURITIES LLC, as joint lead arrangers and joint bookmanagers.

WITNESSETH:

     WHEREAS, the Guarantors have entered into the Credit Agreement and the applicable Security
Documents in order to induce the Lenders to make the Loans to or for the benefit of the Borrowers;

     WHEREAS, pursuant to Section 5.1 l(b) of the Credit Agreement, certain Subsidiaries are
required to become Guarantors under the Credit Agreement by executing a Joinder Agreement. NOVELIS
PAE S. A.S. (the “New Guarantor”) is executing this joinder agreement (“Joinder
Agreement”) to the Credit Agreement and as consideration for the Loans previously made by the
Lenders and as consideration for the other agreements of the Lenders and the Agents under the Loan
Documents and as consideration for other good and valid consideration the receipt and sufficiency
of which is hereby acknowledged.

     NOW, THEREFORE, the Administrative Agent, Collateral Agent and the New Guarantor hereby agree
as follows:

     1. Guarantee. In accordance with Section 5.11 (b) of the Credit Agreement, the New
Guarantor by its signature below becomes a Guarantor under the Credit Agreement with the same
force and effect as if originally named therein as a Guarantor, subject to the limitations set forth
in Clause 2 herein.

     2. Guarantee Limitations.

          (a) The obligations and liabilities of the New Guarantor under the Credit Documents
and in particular under Article VII (Guarantee) of the Credit Agreement shall not include any
obligation
or liability which if incurred would constitute the provision of financial assistance within
the meaning of
article L. 225-216 of the French Code de commerce and/or would constitute a misuse of
corporate assets
within the meaning of article L. 241-3 or L. 242-6 of the French Code de commerce or any other
laws or
regulations having the same effect, as interpreted by French courts.

          (b) The obligations and liabilities of the New Guarantor under Article VII
(Guarantee) of the Credit Agreement for the obligations under the Credit Documents of any
other
Guarantor which is not a Subsidiary of the New Guarantor, shall be limited at any time to an
amount
equal to the aggregate of all amounts borrowed under the Credit Agreement by such other
Guarantor as
Borrower to the extent directly or indirectly on-lent to the New Guarantor under inter-company
loan
agreements and outstanding at the date a payment is to be made by the New Guarantor under
Article VII
(Guarantee) of the Credit Agreement, it being specified that any payment made by the New
Guarantor
under Article VII (Guarantee) of the Credit Agreement in respect of the obligations of such
Guarantor as

1

 

Borrower shall reduce pro tanto the outstanding amount of the inter-company loans due by the New
Guarantor under the inter-company loan arrangements referred to above.

          (c) The obligations and liabilities of the New Guarantor under Article VII (Guarantee) of the
Credit Agreement for the obligations under the Credit Documents of any Guarantor which is its
Subsidiary shall not be limited and shall therefore cover all amounts due by such Guarantor as
Borrower and/or as Guarantor, as applicable. However, where such Subsidiary is not incorporated in
France, the amounts payable by the New Guarantor under this paragraph (c) in respect of obligations
of this Subsidiary as Guarantor, shall be limited as set out in paragraph (b) above.

     3. Representations and Warranties. The New Guarantor hereby (a) agrees to all the terms
and provisions of the Credit Agreement applicable to it as a Guarantor thereunder (subject to
the limitations set forth in Clause 2 herein) and (b) represents and warrants that the
representations and
warranties made by it as a Guarantor thereunder are true and correct in all material respects
(except that
any representation and warranty that is qualified as to “materiality” or “Material Adverse
Effect” shall be
true and correct in all respects) on and as of the date hereof, except to the extent such
representations and
warranties expressly relate to an earlier date, in which case such representation and warranty
shall have
been true and correct in all material respects (or, in the case of any representation and
warranty that is
qualified as to “materiality” or “Material Adverse Effect”, true and correct in all respects)
as of such
earlier date. Each reference to a Guarantor in the Credit Agreement shall be deemed to include
the New
Guarantor. The New Guarantor hereby agrees to supplement each of the schedules to the
Credit
Agreement and the Perfection Certificates applicable to it in accordance with Section 9
hereof.

     4. Severability. Any provision of this Joinder Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such
prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such
prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such
provision in any other jurisdiction.

     5. Counterparts. This Joinder Agreement may be executed in counterparts, each of which
shall constitute an original. Delivery of an executed signature page to this Joinder
Agreement by
facsimile transmission shall be as effective as delivery of a manually executed counterpart of
this Joinder
Agreement.

     6. No Waiver. Except as expressly supplemented hereby, the Credit Agreement shall
remain in full force and effect.

     7. Notices. All notices, requests and demands to or upon the New Guarantor, any Agent or
any Lender shall be governed by the terms of Section 11.01 of the Credit Agreement.

     8. Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO
CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE
LAWS OF ANOTHER JURISDICTION.

     9. Certain Agreements. The New Guarantor hereby agrees that it shall take each action
and deliver each of the documents set forth on Exhibit I, each within the number of days set
forth on such
Exhibit.

[Signature
Pages Follow]

2

 

     IN WITNESS WHEREOF, the undersigned have caused this Joinder Agreement to be duly executed and
delivered by their duly authorized officers as of the day and year first above written.

     Signed on September 12, 2008

     In two (2) original copies

	 	 	 	 	 
	 	NOVELIS PAE S.A.S.

 	 
	 	By:  	/s/ P. Charlier
 	 
	 	 	Name:  	P. CHARLIER 	 
	 	 	Title:  	PRESIDENT

 	 
	 	

Address for Notices:

Novelis PAE S.A.S.
 725
rue Aristide Bergès

38340 Voreppe 
France

 	 
	 

					
	 	UBS AG, STAMFORD BRANCH,
as Administrative Agent and as
 Collateral
Agent

 	 
	 	By:  	/s/ Mary E. Evans
 	 
	 	 	Name:  	Mary E. Evans  	 
	 	 	Title:  	Associate Director 	 
	 
	 	 	 
	 	By:  	                                              /s/ Irja R. Otsa
 	 
	 	 	Name:  	Irja R. Otsa  	 
	 	 	Title:  	Associate Director

 	 
	 	

Address for Notices:

UBS AG, Stamford Branch
 677
Washington Boulevard 
Stamford,
Connecticut 06901
 Attn:
Christopher Gomes
 	 

Novelis PAE S.A.S. Joinder Agreement (Term)

3

 

	 	 	 	 	 

Exhibit I 

Obligations of New Guarantor

1. (i) Deliver to the Collateral Agent (such term as referenced in this Exhibit I to include
successor
Agents under Section 10.06 of the Credit Agreement), within 30 days of the date hereof (or by such
later
date as may be agreed to in writing by the Collateral Agent in its sole discretion) a bank accounts
pledge
agreement in respect of each of the cash accounts the New Guarantor maintains with depositary bank
or
banks, in form and substance satisfactory to the Administrative Agent and the Collateral Agent and
(ii)
deliver to the depositary bank or banks acknowledgments evidencing such accounts pledge agreements
in
favor of the Collateral Agent in respect of each of the cash accounts of the New Guarantor, each in
form
and substance acceptable to the Collateral Agent.

2. Within 30 days of the date hereof (or by such later date as may be agreed to in writing by the
Collateral Agent in its sole discretion) deliver a pledge of receivables held by the New Guarantor,
in form
and substance satisfactory to the Funding Agent (such term as referenced in this Exhibit I to
include
successor Agents under Section 10.06 of the Credit Agreement) and the Collateral Agent and
subsequently enter into supplemental receivables pledge agreements in form and substance
satisfactory to
the Funding Agent and the Collateral Agent as may be necessary.

3. Within 30 days of the date hereof (or by such later date as may be agreed to in writing by the
Collateral Agent in its sole discretion) deliver a pledge of stock held by the New Guarantor, in
form and
substance satisfactory to the Funding Agent and the Collateral Agent.

4. Within 30 days of the date hereof (or by such later date as may be agreed to in writing by the
Collateral Agent in its sole discretion) deliver a pledge over going concern with regard to the New
Guarantor, in form and substance satisfactory to the Funding Agent and the Collateral Agent, in
addition
to any ancillary documents or instruments needed to perfect or record the security interest granted
thereunder under the laws of the Unites States, Canada, the United Kingdom, Germany, and
Switzerland.

5. Within 30 days of request thereof by the Funding Agent or the Collateral Agent (or by such later
date
as may be agreed to in writing by the Collateral Agent or the Funding Agent, as applicable, in its
sole
discretion) take all other actions requested by the Funding Agent or the Collateral Agent to cause
the
Liens created by the Security Documents executed by the New Guarantor in connection with this
Joinder
Agreement to be duly perfected in accordance with all applicable Requirements of Law in accordance
with (and subject to the limitations set forth in) Section 5.11(b) of the Credit Agreement.

6. Deliver, within 30 days of the date hereof (or by such later date as may be agreed to in writing
by the
Collateral Agent in its sole discretion), each in form and substance acceptable to the Collateral
Agent,
supplements to each of the schedules to the Credit Agreement and the Perfection Certificates
applicable to
it (each as referred to in Clause 3 of the Joinder Agreement).

4

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