Document:

Unassociated Document

    
      

    

    
      Exhibit
10.45

      

      

      THIRD
AMENDMENT TO CREDIT AGREEMENT

      

      

      This
THIRD AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as
of September 25, 2009, among SYMYX TECHNOLOGIES, INC., a Delaware corporation
(the “Borrower”), each
lender from time to time party thereto (collectively, the “Lenders” and
individually, a “Lender”), and BANK OF
AMERICA, N.A., as
Administrative Agent (the “Administrative
Agent”) and as L/C Issuer.

      

      RECITALS

      

      A.           The
Borrower, the Lenders, the Administrative Agent, and Bank of America, N.A. as
L/C Issuer, are party to that certain Credit Agreement dated as of September 28,
2007, as amended by that certain Amendment to Credit Agreement dated as of March
11, 2009, and that Second Amendment to Credit Agreement dated as of July 31,
2009 (as so amended, the “Credit Agreement”),
pursuant to which the Administrative Agent and the Lenders have extended certain
credit facilities to the Borrower for its benefit and for the benefit of its
Subsidiaries.

      

      B.          
 The Borrower has requested that the Administrative Agent and the Lenders
agree to certain amendments to the Credit Agreement, and the Lenders have agreed
to such request, subject to the terms and conditions of this
Amendment.

      

      NOW,
THEREFORE, for valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties hereto hereby agree as follows:

      

      1.          
  Defined
Terms.  Unless otherwise defined herein, capitalized terms used
herein shall have the meanings, if any, assigned to such terms in the Credit
Agreement.  As used herein, “Amendment Documents”
means this Amendment, the Guarantor Consent, the Credit Agreement (as amended by
this Amendment), and each certificate and other document executed and delivered
by the Borrower or any Guarantor pursuant to Section 5
hereof.

      

      2.           
 Interpretation.  The
rules of interpretation set forth in Sections 1.02, 1.03, 1.04, 1.05, and 1.06 of the Credit
Agreement shall be applicable to this Amendment and are incorporated herein by
this reference.

      

      3.            
Amendments to Credit
Agreement.  Subject to the terms and conditions hereof, and
with effect from and after the Effective Date, the Credit Agreement shall be
amended as follows:

      

      
      

      (a)         
  Section
1.01 of the Credit Agreement shall be amended, at the definition “Applicable Rate”, by
deleting the table contained therein and inserting in its place the
following:

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      

      
        	
                Applicable
      Rate

              
	
                Pricing

                Level

              	
                Consolidated

                Leverage
      Ratio

              	
                Commitment
      Fee

              	
                Eurodollar

                Rate
      +/

                Letters
      of

                Credit

              	
                Base
      Rate

                +

              
	
                1

              	
                <1.00

              	
                0.375%

              	
                2.25%

              	
                0.75%

              
	
                2

              	
                ≥1.00:1.00
      but < 1.50:1.00

              	
                0.375%

              	
                2.50%

              	
                1.00%

              
	
                3

              	
                ≥1.50:1.00

              	
                0.375%

              	
                2.75%

              	
                1.25%

              

      

      

      (b)           Section 1.01 of the
Credit Agreement shall be further amended, at the definition “Maturity Date”, by
amending and restating such definition to read in full as follows:

      
 

      “Maturity Date” means
March 1, 2010.

      

      4.            
Representations and
Warranties.  Borrower hereby represents and warrants to the
Administrative Agent and the Lenders as follows:

      

      (a)           
No Default has occurred and is continuing.

      

      (b)           The
execution, delivery and performance by the Borrower and each Guarantor of the
Amendment Documents have been duly authorized by all necessary corporate and
other action and do not and will not require any registration with, consent or
approval of, or notice to or action by, any Person (including any Governmental
Authority) in order to be effective and enforceable.

      

      (c)           After
giving effect to this Amendment, all representations and warranties of the
Borrower contained in Article V of the
Credit Agreement are (i) in the case of representations and warranties that are
qualified as to materiality, true and correct, and (ii) in the case of
representations and warranties that are not qualified as to materiality, true
and correct in all material respects, in each case on and as of the Effective
Date, except to the extent that such representations and warranties specifically
refer to an earlier date, in which case they shall be true and correct or true
and correct in all material respects, as the case may be, as of such earlier
date; provided
that the representations and warranties contained in Section 5.05 shall be
deemed to refer to the most recent financial statements furnished pursuant to
subsections (a)
and (b) of
Section
6.01.

      

      (d)           Borrower
is entering into this Amendment on the basis of its own investigation and for
its own reasons, without reliance upon the Administrative Agent, the Lenders or
any other Person.

      

      5.            
Effective
Date.

      

      (a)           This
Amendment will become effective when each of the following conditions precedent
has been satisfied (the “Effective
Date”):

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      (i)          
 The Administrative Agent shall have received from the Borrower and the
Required Lenders a duly executed original (or, if elected by the Administrative
Agent, an executed facsimile copy) counterpart to this Amendment.

      

      (ii)           The
Administrative Agent shall have received from each Guarantor a guarantor consent
and reaffirmation in the form attached hereto as Annex I (the “Guarantor Consent”),
signed by Responsible Officers of the applicable Guarantor.

      

      (iii)          The
Administrative Agent shall have received such documents and certifications as
the Administrative Agent may reasonably require to evidence that the Borrower
and each Guarantor is duly organized or formed validly existing and in good
standing under the law of its jurisdiction of organization, and that the
Borrower and each Guarantor is in good standing and qualified to engage in
business in each jurisdiction where its ownership, lease or operation of
properties or the conduct of its business requires such qualification, except to
the extent that failure to do so could not reasonably be expected to have a
Material Adverse Effect.

      

      (iv)          The
Borrower shall have paid to the Administrative Agent all reasonable costs and
expenses of counsel to the Administrative Agent to the extent invoiced prior to
the Effective Date.

      

      (v)           The
Administrative Agent shall have received, in form and substance satisfactory to
it, such additional approvals, consents, opinions, documents and other
information as the Administrative Agent shall request.

      

      (b)           For
purposes of determining compliance with the conditions specified in this Section 5, each
Lender that has executed this Amendment and delivered it to the Administrative
Agent shall be deemed to have consented to, approved or accepted, or to be
satisfied with, each document or other matter either sent, or made available for
inspection, by the Administrative Agent to such Lender for consent, approval,
acceptance or satisfaction, or required thereunder to be consented to or
approved by or acceptable or satisfactory to such Lender.

      

      (c)           From
and after the Effective Date, the Credit Agreement is amended as set forth
herein.  Except as expressly amended pursuant hereto, the Credit
Agreement shall remain unchanged and in full force and effect and is hereby
ratified and confirmed in all respects.

      

      (d)           The
Administrative Agent will notify the Borrower and the Lenders of the occurrence
of the Effective Date.

      

      6.            
Reservation of
Rights.  Borrower acknowledges and agrees that neither the
execution nor the delivery by the Administrative Agent and the Lenders of this
Amendment, shall be deemed to create a course of dealing or otherwise obligate
the Administrative Agent or the Lenders to execute similar amendments or waivers
under the same or similar circumstances in the future.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      7.            
Miscellaneous.

      

      (a)           This
Amendment shall be binding upon and inure to the benefit of the parties hereto
and thereto and their respective successors and assigns.  No third
party beneficiaries are intended in connection with this Amendment.

      

      (b)           THIS
AMENDMENT IS SUBJECT TO THE PROVISIONS OF SECTIONS 10.14 AND
10.15 OF THE
CREDIT AGREEMENT RELATING TO GOVERNING LAW, VENUE, AND WAIVER OF RIGHT TO TRIAL
BY JURY, THE PROVISIONS OF WHICH ARE BY THIS REFERENCE INCORPORATED HEREIN IN
FULL.

      

      (c)           This
Amendment may be executed in any number of counterparts, each of which shall be
deemed an original, but all such counterparts together shall constitute but one
and the same instrument.  Transmission of signatures of any party by
facsimile shall for all purposes be deemed the delivery of original, executed
counterparts thereof and the Administrative Agent is hereby authorized to make
sufficient photocopies thereof to assemble complete counterparty
documents.

      

      (d)         
 This Amendment, together with the other Amendment Documents and the Credit
Agreement, contain the entire and exclusive agreement of the parties hereto with
reference to the matters discussed herein and therein.  This Amendment
supersedes all prior drafts and communications with respect
thereto.  This Amendment may not be amended except in accordance with
the provisions of Section 10.01 of the
Credit Agreement.

      

      (e)           
If any term or provision of this Amendment shall be deemed prohibited by or
invalid under any applicable law, such provision shall be invalidated without
affecting the remaining provisions of this Amendment or the Credit Agreement,
respectively.

      

      (f)          
 The Borrower covenants to pay to or reimburse the Administrative Agent,
upon demand, for all costs and expenses incurred in connection with the
development, preparation, negotiation, execution and delivery of this Amendment
and the other Amendment Documents.

      

      (g)           Each
of this Amendment, the First Amendment to Subsidiary Security Agreement and the
Guarantor Consent shall constitute a “Loan Document” under
and as defined in the Credit Agreement.

      

      [Remainder of this page intentionally
left blank]

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

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

      

      
        	 
      	
                SYMYX
      TECHNOLOGIES, INC.

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ Richard Rosenthal

              
	 
      	 
      	 
      
	 
      	
                Name: 
      

              	
                Richard Rosenthal

              
	 
      	 
      	 
      
	 
      	
                Title:

              	
                SVP
Finance

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	 
      	
                BANK OF AMERICA, N.A.,
      as

              
	 
      	
                Administrative
      Agent

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ William J. Flynt Jr.

              
	 
      	 
      	 
      
	 
      	
                Name: 
      

              	
                William J. Flynt Jr

              
	 
      	 
      	 
      
	 
      	
                Title:

              	
                Vice
President

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      
        	 
      	
                BANK OF AMERICA, N.A.,
      as a Lender and L/C Issuer

              
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ William J. Flynt Jr.

              
	 
      	 
      	 
      
	 
      	
                Name: 
      

              	
                William J. Flynt Jr.

              
	 
      	 
      	 
      
	 
      	
                Title:

              	
                Vice
President

              

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      ANNEX
I

      to Third
Amendment to

      Credit
Agreement

      

      GUARANTOR
CONSENT

      

      Each of
the undersigned, in its capacity as a Guarantor, acknowledges that its consent
to the foregoing Third Amendment to Credit Agreement (the “Amendment”) is not
required, but each of the undersigned nevertheless does hereby consent to the
foregoing Amendment and to the documents and agreements referred to
therein.  Nothing herein shall in any way limit any of the terms or
provisions of the Guaranty of the undersigned or the Amendment Documents
executed by the undersigned in the Administrative Agent’s and the Lenders’
favor, or any other Loan Document executed by the undersigned (as the same may
be amended from time to time), all of which are hereby ratified and affirmed in
all respects.  This Consent may be executed in
counterparts.

      

      

      
        	 
      	
                SYMYX SOLUTIONS, INC.,
      as a Guarantor

              
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ Richard Rosenthal

              
	 
      	 
      	 
      
	 
      	
                Name: 
      

              	
                Richard Rosenthal

              
	 
      	 
      	 
      
	 
      	
                Title:

              	
                SVP Finance

              
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                SYMYX TECHNOLOGIES
      INTERNATIONAL, INC., as a Guarantor

              
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                By:

              	
                /s/ Richard Rosenthal

              
	 
      	 
      	 
      
	 
      	
                Name: 
      

              	
                Richard Rosenthal

              
	 
      	 
      	 
      
	 
      	
                Title:

              	
                Treasureex10_1.htm

    
      

    

    Exhibit
10.1

    
      

      HERSHA
HOSPITALITY TRUST

      

      Form of Performance Share
Award Agreement

      

      THIS
AGREEMENT, dated as of the 5th day
of August, 2009, between HERSHA HOSPITALITY TRUST, a Maryland real estate
investment trust (the “Company”) and _______________ (“Participant”), is made
pursuant to the terms of the Company’s 2008 Equity Incentive Plan (the
“Plan”).  All terms that are used herein that are defined in the Plan
shall have the same meaning given them in the Plan.

      

      1.      
      Grant of
Performance Share Award.  Pursuant to the Plan, on August 5,
2009 (the “Date of Grant”), the Company granted Participant a Performance Share
Award with respect to ______ shares of Common Stock, subject to the terms and
conditions of the Plan and subject further to the terms and conditions set forth
herein.

      

      2.          
  Earning
the Performance Shares.  Participant shall earn the Performance
Shares, and become entitled to the issuance of shares of Common Stock in
accordance with paragraph 3, to the extent that the following requirements are
satisfied.

      

      (a)           Participant
shall earn ______ of the Performance Shares if during the Measurement Period the
VWAP is at least $3.00 but less than $4.00.  Participant shall earn an
additional _____ of the Performance Shares if during the Measurement Period the
VWAP is at least $4.00 but less than $5.00.  Participant shall earn an
additional _______ of the Performance Shares if during the Measurement Period
the VWAP is $5.00 or more.

      

      (b)           If
during the Measurement Period the VWAP is at least $3.00, Participant may earn
up to an additional ____ of the Performance Shares.  The additional
Performance Shares, if any, earned under this paragraph 2(b) shall be determined
by the Committee in its discretion following the last day of the Measurement
Period.

      

      (c)           Paragraphs
2(a) and 2(b) to the contrary notwithstanding, all of the Performance Shares not
previously earned shall be earned on a Control Change Date if Participant
remains in the continuous employ of the Company or an Affiliate from the Date of
Grant until the Control Change Date and the Control Change Date occurs during
the Measurement Period..

      

      (d)           Paragraphs
2(a) and 2(b) to the contrary notwithstanding, all of the Performance Shares not
previously earned shall be earned on the date of Participant’s termination of
employment with the Company and its Affiliates if (i) Participant’s employment
with the Company and its Affiliates is terminated by the Company or an Affiliate
without Cause before the last day of the Measurement Period and (ii) Participant
remained in the continuous employ of the Company or an Affiliate from the Date
of Grant until the date that Participant’s employment ends as described in the
preceding clause (i).

      

      (e)           Any
Performance Shares that are not earned on or before the date that Participant’s
employment with the Company and its Affiliates ends for any reason shall be
forfeited on the date that such employment ends.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      3.       
      Settlement
of Performance Shares.  Performance Shares that are earned in
accordance with paragraph 2 shall be settled by the issuance of shares of Common
Stock to Participant.  The number of shares of Common Stock to be
issued to Participant shall equal the number of Performance Shares earned in
accordance with paragraph 2.  Shares of Common Stock shall be issued
in settlement of earned Performance Shares within ten days after the
requirements of paragraph 2 are satisfied, e.g., within ten days after
each of the applicable VWAP performance criteria are satisfied, within ten days
after the Committee’s determination with respect to Performance Shares earned
under paragraph 2(b) and within ten days after a termination of employment
described in paragraph 2(c) or a Control Change Date.  Shares of
Common Stock issued in settlement of earned Performance Shares shall be vested
and nonforfeitable and, subject to the requirements of applicable securities
laws, shall be transferable.

      

      4.         
   Definitions.  For
purposes of this Agreement, the following terms shall have the definitions set
forth below:

      

      (a)           “VWAP”
means the volume weighted average of the Fair Market Value of the Common Stock
during a period of twenty consecutive days on which the Common Stock is traded
on the principal exchange on which the Common Stock is listed for
trading.

      

      (b)           “Measurement
Period” means the period beginning on the Date of Grant and ending on August 4,
2010.

      

      (c)           “Cause”
has the same meaning as set forth in an employment agreement between Participant
and the Company.  If Participant does not have an employment agreement
with the Company or if such employment agreement does not define the term
“Cause,” then for purposes of this Agreement the term “Cause” means a
termination by the Company or an Affiliate of Participant’s employment with the
Company and its Affiliates on account of:

      

      (i)  Participant’s
conviction of a felony;

      

      (ii)  Participant’s
theft, embezzlement, misappropriation of, or, misappropriation of or intentional
and malicious infliction of damage to the Company’s or an Affiliate’s property
or business opportunity;

      

      (iii)  Participant’s
material breach of any agreement between Participant and the
Company;

      

      (iv)  Participant’s
neglect of Participant’s duties or responsibilities to the Company or an
Affiliate or his failure or refusal to follow any written direction of the Board
or any duly constituted committee thereof, which failure continues for a period
of twenty calendar days after the Company provides Participant written notice
thereof; or

      

      (v)  Participant’s
abuse of alcohol, drugs or other substances or his engaging in other deviant
personal activities in a manner that, in the reasonable judgment of the Board,
adversely affects the reputation, goodwill or business position of the
Company.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      5.          
  Shareholder
Rights.  Participant will have no rights as a shareholder of
the Company with respect to the Performance Shares unless and until shares of
Common Stock are issued in settlement of earned Performance Shares.

      

      6.          
  No Right
to Continued Employment.  This Agreement does not confer upon
Participant any right with respect to continuance of employment by the Company
or an Affiliate, nor shall it interfere in any way with the right of the Company
or an Affiliate to terminate Participant’s employment at any time.

      

      7.             Change in
Capital Structure.  In accordance with the terms of the Plan,
the terms of this Performance Share Award shall be adjusted as the Board
determines is equitably required in the event the Company effects one or more
stock dividends, stock split-ups, subdivisions or consolidations of shares or
other similar changes in capitalization.

      

      8.     
       Governing
Law.  This Agreement shall be governed by the laws of the State
of Maryland (other than any choice-of-law provisions that would require the
application of the laws of a State other than the State of
Maryland).

      

      9.     
       Conflicts.  In
the event of any conflict between the provisions of the Plan as in effect on the
Date of Grant and the provisions of this Agreement, the provisions of the Plan
shall govern.  All reference herein to the Plan shall mean the Plan as
in effect on the Award Date.

      

      10.           Participant
Bound by Plan.  Participant hereby acknowledges that a copy of
the Plan has been made available to Participant and Participant agrees to be
bound by all the terms and provisions thereof.

      

      11.           Binding
Effect.  Subject to the limitations stated above and in the
Plan, this Agreement shall be binding upon and inure to the benefit of the
legatees, distributees, and personal representatives of the Participant and the
successors of the Company.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, the Company has caused this Agreement to be signed on its
behalf, and the Participant has affixed his signature hereto.

      

      
        	 
      	
                HERSHA
      HOSPITALITY TRUST

              	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
                By

              	
                 

              	 
      
	 
      	
                Name:

              	 
      	 
      
	 
      	
                Title:

              	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	
                PARTICIPANT

              	 
      
	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      
	 
      	 	 
      
	 
      	
                Name:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}]]