Document:

Exhibit 10.1 Closing_Checklist

PNC BANK, NATIONAL ASSOCIATION
 
TECUMSEH PRODUCTS COMPANY,
TECUMSEH COMPRESSOR COMPANY,
TECUMSEH PRODUCTS OF CANADA, LIMITED
AND
EVERGY, INC.
AMENDMENT NO. 3 CLOSING CHECKLIST
I.    Parties
		
	A.
	PNC Bank, National Association (“Agent”)

Todd Milenius
PNC Business Credit
1900 East 9th Street, 9th Floor
Cleveland, OH  44114
(216) 222-9761
E-Mail Address:  todd.milenius@pnc.com
Borrowers:
		
	B.
	Tecumseh Products Company ("Tecumseh Products”)

5683 Hines Drive 
Ann Arbor, Michigan  48108
Tecumseh Products TIN #:  38-1093240
Tecumseh Products State of Organization:  Michigan
Tecumseh Products State Org. #:  096612
Janice Stipp 
Chief Financial Officer
Tecumseh Products
734-585-9586
248-346-4277 (cell)
E-Mail Address:  janice.stipp@tecumseh.com  

Christine Saurini
Director of Treasury
Tecumseh Products
(734) 585-9441
(586) 491-5806 (cell)
(734) 352-3741 (fax)
E-Mail: christine.saurini@tecumseh.com
		
	C.
	    Tecumseh Products of Canada, Limited ("Tecumseh Products Canada”)

5683 Hines Drive
Ann Arbor, Michigan 48108
Tecumseh Products Canada Tax Identification Number:  10 515 9834 C0001
Tecumseh Products Canada Province of Organization:  Tecumseh Products Canada is a Federal Corporation under the Canada Business Corporations Act, and is registered in the Province of Ontario.
Tecumseh Products Canada Org. #:  061165-4
		
	D.
	Tecumseh Compressor Company ("Tecumseh Compressor”)

5683 Hines Drive
Ann Arbor, Michigan  48108 
Tecumseh Compressor’s TIN #:  32-0043184
Tecumseh Compressor’s State of Organization:  Delaware
Tecumseh Compressor’s State Org. #:  3585297
		
	E.
	Evergy, Inc. ("Evergy”)

5683 Hines Drive
Ann Arbor, Michigan  48108 
Evergy’s TIN #: 32-0043183
Evergy’s State of Organization:  Delaware
Evergy’s State Org. #:  3585288
Tecumseh Products, Tecumseh Products Canada, Tecumseh Compressor, and Evergy are collectively the “Borrowers” and each individually a “Borrower”

II.    Counsel to Parties
		
	A.
	PNC Business Credit

Theodore B. Sylwestrzak, Esq.
Dickinson Wright PLLC (“DW”)
500 Woodward Avenue, Suite 4000
Detroit, Michigan  48226
(313) 223-3036
(313) 223-3598 (Fax)
E-Mail Address:  TSylwestrzak@dickinsonwright.com
and
Rachel L. Wolock, Esq.
Dickinson Wright PLLC (“DW”)
500 Woodward Avenue, Suite 4000
Detroit, Michigan  48226
(313) 223-3009
(313) 223-3598 (Fax)
E-Mail Address:  RWolock@dickinsonwright.com
Borrowers:
Kimberly Dudek
Honigman Miller Schwartz and Cohn LLP
2290 First National Building
660 Woodward Avenue
Detroit, MI  48226
(313) 465- 7592
(313) 465-7593 (Fax)
E-Mail Address:  kdudek@honigman.com

	
					
	NAME OF DOCUMENT
	DRAFT
	OBTAIN
	DOC ID
	COMMENTS

	
						
	1.    Amendment No. 3 to Revolving Credit and Security Agreement
	DW
	Borrowers
	1300043
	 Tecumseh Products
 Tecumseh Products Canada
 Tecumseh Compressor
 Evergy
 Agent

	Exhibit:
	 

	A   Term Note
	DW
	 
	1301220
	 Done

	B   Specified Updated Schedules
	 
	Borrowers
	 
	 Received

	C   Closing Checklist
	DW
	 
	1300667
	 Done

	D   Revolving Credit Note
	DW
	 
	1301232
	 Done

	 

	2.    Revolving Credit Note ($34,000,000)
	DW
	Borrowers
	1301232
	 Tecumseh Products
 Tecumseh Products Canada
 Tecumseh Compressor
 Evergy

	 

	3.    Term Note ($15,000,000)
	DW
	Borrowers
	1301220
	 Tecumseh Products
 Tecumseh Products Canada
 Tecumseh Compressor
 Evergy

	 

	4.    IP Security Agreement
	DW
	Borrowers
	1302260
	 Tecumseh Products
 Tecumseh Products Canada
 Tecumseh Compressor
 Evergy
 Agent

	Schedule 1 – Patents
	 
	Borrowers
	 
	 Done

	Schedule 2 – Trademarks
	 
	Borrowers
	 
	 Done

	Schedule 3 – Copyrights
	 
	Borrowers
	 
	 Done

	 

1

	
					
	NAME OF DOCUMENT
	DRAFT
	OBTAIN
	DOC ID
	COMMENTS

	
						
	5.    Evidence of Filing with USPTO
	DW
	 
	 
	 Received

	 

	6.    USPTO Searches
	DW
	 
	 
	 Received

	 

	7.    Resolutions for Extension of Credit and Incumbency Certificates:
	Borrowers’ counsel confirmed no change to Bylaws since delivered in 2011closing

	(a)   Tecumseh Products
	DW
	Borrowers
	1301264
	 J. Stipp
 J. Connor

	Exhibits to Tecumseh Products’ Resolutions:
	 

	By-Laws
	 
	Borrowers
	 
	Received

	Articles of Incorporation
	 
	Borrowers
	 
	Received

	(b)   Tecumseh Products Canada
	DW
	Borrowers
	 
	 J. Stipp
 J. Connor
 R. Jackson

	Exhibits to Tecumseh Products Canada’s Resolutions:
	 

	By-Laws
	 
	Borrowers
	 
	Received

	Articles of Incorporation
	 
	Borrowers
	 
	Received

	(c)   Tecumseh Compressor
	DW
	Borrowers
	 
	 J. Stipp
 J. Connor
 R. Jackson

	Exhibits to Tecumseh Compressor’s Resolutions:
	 

	By-Laws
	 
	Borrowers
	 
	Received

	Articles of Incorporation
	 
	Borrowers
	 
	Received

	(d)   Evergy
	DW
	Borrowers
	 
	 J. Stipp
 J. Connor
 R. Jackson

	Exhibits to Evergy’s Resolutions:
	 

	By-Laws
	 
	Borrowers
	 
	Received

	Articles of Incorporation
	 
	Borrowers
	 
	Received

	 

	8.    Certificates of Good Standing
	 

	(a)   Tecumseh Products  
Michigan
	 
	Borrowers
	 
	Received

2

	
					
	NAME OF DOCUMENT
	DRAFT
	OBTAIN
	DOC ID
	COMMENTS

	
						
	(b)   Tecumseh Products Canada, Canada
	 
	Borrowers
	 
	Received

	(c)   Tecumseh Compressor 
Delaware
	 
	Borrowers
	 
	Received

	(d)   Evergy 
Delaware
	 
	Borrowers
	 
	Received

	 

	9.    UCC-3 Amendments and PPSA Amendment:
	 

	(a)   Tecumseh Products  
Michigan
	 
	DW
	 
	Filed Copy Received

	(b)   Tecumseh Products Canada, Ontario
	 
	DW
	 
	Filed Copy Received

	(c)   Tecumseh Compressor 
Delaware
	 
	DW
	 
	Filed Copy Received

	(d)   Evergy 
Delaware
	 
	DW
	 
	Filed Copy Received

	 

	10.    UCC and PPSA Searches
	 

	(a)   Tecumseh Products  
Michigan
	 
	DW
	 
	Received

	(b)   Tecumseh Products Canada Ontario
	 
	DW
	 
	Received

	(c)   Tecumseh Compressor 
Delaware
	 
	DW
	 
	Received

	(d)   Evergy 
Delaware
	 
	DW
	 
	Received

	(e)   Tecumseh do Brasil USA, LLC  
Delaware
	 
	DW
	 
	Received

	(f)   Tecumseh Technologies, Inc. Delaware
	 
	DW
	 
	Received

	 

	11.    Legal Opinion(s):
	 

	(a)   U.S. Opinion (HMS&C)
	 
	Borrowers
	1301274
	Received

	(b)   Canadian Opinion 
(Norton Rose Fulbright)
	 
	Borrowers
	 
	Received

	 

	12.    Mortgage 
5683 Hines Drive 
Ann Arbor, Michigan
	DW
	Borrowers
	1301302
	 Tecumseh Products
 Notary sig
 Sent for recording
 Filed copy rec’d

3

	
					
	NAME OF DOCUMENT
	DRAFT
	OBTAIN
	DOC ID
	COMMENTS

	
						
	Exhibit A – Legal Description
	 
	Borrowers
	 
	Received

	Exhibit B – Permitted Title Encumbrances
	DW
	Borrowers
	 
	Done

	 

	13.    Mortgage 
420 S. Maumee Street 
Tecumseh, Michigan
	DW
	Borrowers
	 
	 Tecumseh Products
 Notary sig
 Sent for recording
 Filed copy rec’d

	Exhibit A – Legal Description
	 
	Borrowers
	 
	Received

	Exhibit B – Permitted Title Encumbrances
	DW
	Borrowers
	 
	Done

	 

	14.    First Amendment to Deed of Trust 
2700 West Wood Street 
Paris, Tennessee
	DW
	Borrowers
	 
	 Evergy
 Notary
 Agent
 Notary
 Sent for recording
 Filed copy rec’d

	Exhibit A – Legal Description
	 
	Borrowers
	 
	Received

	 

	15.    Tennessee Recording Tax Worksheet and Affidavit
	DW
	Borrowers
	 
	 J. Stipp for Evergy

	 

	16.    [Reserved] 
	 

	 

	17.    Evidence of Insurance on Mortgaged Real Properties (of at least the Appraised Values) and PNC’s Mortgagee Endorsement on the Insurance Policies  
	 
	Borrowers
	 
	 Received

	 

	18.    Title Commitments:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	DW
	Ordered
	 Received
 Mark up

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	DW
	Ordered
	 Received
 Mark up

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	DW
	Ordered
	 Received
 Mark up

	(d)   200 Elm Street 
Aylmer, Ontario, Canada
	 
	DW
	Ordered
	 Received
 Mark up

	 

4

	
					
	NAME OF DOCUMENT
	DRAFT
	OBTAIN
	DOC ID
	COMMENTS

	
						
	19.    Title Policies:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	DW
	 
	 Received
 Approved

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	DW
	 
	 Received
 Approved

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	DW
	 
	 Received
 Approved

	(d)   200 Elm Street 
Aylmer, Ontario, Canada
	 
	DW
	 
	 Received
 Approved

	 

	20.    Surveys:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	Borrowers
	To be re-certified/issued to Agent and title co. as of recent date.
	 Received
 Approved

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	Borrowers
	 
	 Received
 Approved

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	Borrowers
	 
	 Received
 Approved

	(d)   200 Elm Street 
Aylmer, Ontario, Canada
	 
	Borrowers
	 
	 Received
 Approved

	 

	21.    Appraisals:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	Borrowers
	 
	 Received
 Approved

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	Borrowers
	 
	 Received
 Approved

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	Borrowers
	 
	 Received
 Approved

	(d)   200 Elm Street 
Aylmer, Ontario, Canada
	 
	Borrowers
	 
	 Received
 Approved

	 

	22.    Phase I:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	Borrowers
	 
	 Received
 Approved

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	Borrowers
	 
	 Received
 Approved

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	Borrowers
	 
	 Received
 Approved

	(d)   200 Elm Street 
Aylmer, Ontario, Canada
	 
	Borrowers
	 
	 Received
 Approved

	 

5

	
					
	NAME OF DOCUMENT
	DRAFT
	OBTAIN
	DOC ID
	COMMENTS

	
						
	23.    Flood Zone Certificates
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	Agent
	 
	 Received
 Approved

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	Agent
	 
	 Received
 Approved

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	Agent
	 
	 Received
 Approved

	(d)   [Reserved]
	 

	 

	24.    Owner’s Affidavits:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	Borrowers
	 
	 Tecumseh Products
 Notary

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	Borrowers
	 
	 Tecumseh Products
 Notary

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	Borrowers
	 
	 Evergy
 Notary

	(d)   200 Elm Street 
Aylmer, Ontario, Canada
	 
	Borrowers
	 
	 Tecumseh Products Canada
 Notary

	 

	25.    Survey Affidavits:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	Borrowers
	 
	 Tecumseh Products 
 Notary

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	Borrowers
	 
	 Tecumseh  Notary

	(c)   2700 West Wood Street 
Paris, Tennessee
	 
	Borrowers
	 
	 Evergy
 Notary

	(d)   200 Elm Street 
Aylmer, Ontario, Canada
	 
	Borrowers
	 
	 Tecumseh Products Canada
 Notary

	 

	26.    Environmental Indemnity Agreement:
	 

	(a)   5683 Hines Drive 
Ann Arbor, Michigan
	 
	Borrowers
	1301301
	 Tecumseh Products
 Notary

	Exhibit A – Legal Description
	 
	 
	1301301
	 Done

	(b)   420 S. Maumee Street 
Tecumseh, Michigan
	 
	Borrowers
	 
	 Tecumseh Products
 Notary

6

	
					
	NAME OF DOCUMENT
	DRAFT
	OBTAIN
	DOC ID
	COMMENTS

	
						
	Exhibit A – Legal Description
	 
	 
	 
	 Done

	(c)   2700 West Wood Street 
Paris, Tennessee 
	 
	Borrowers
	 
	 Evergy
 Notary

	Exhibit A – Legal Description
	 
	 
	 
	 Done

	(d)   200 Elm Street 
Aylmer, Ontario, Canada 
	 
	Borrowers
	 
	 Tecumseh Products Canada
 Notary

	Exhibit A – Legal Description
	 
	 
	 
	 Done

	 

	27. Deposit Account Control Agreement
	 
	Borrowers
	1301931
	 Tecumseh Products
 Tecumseh Products Canada
 Tecumseh Compressor
 Evergy
 Agent (2)

	 

	28.    Pledge Agreement
	DW
	Borrowers
	1301930
	 Tecumseh Products
 Tecumseh Products Canada
 Tecumseh Compressor
 Evergy

	 

	29.    Counsel's Memorandum
	DW
	 
	1302438
	 Drafted
 Sent

	Attachment: Closing Checklist
	DW
	 
	1300667
	Done

	 

 Copy Signature 
 Original Signature

7Exhibit 10.1 Revolving_Credit_Note

REVOLVING CREDIT NOTE
$34,000,000    Date:  December 11, 2013
This Revolving Credit Note is executed and delivered under and pursuant to the terms of that certain Revolving Credit and Security Agreement dated as of April 21, 2011 (as amended, restated, supplemented or modified from time to time, the "Loan Agreement") by and among TECUMSEH PRODUCTS COMPANY, a Michigan corporation (“Tecumseh Products”), TECUMSEH PRODUCTS OF CANADA, LIMITED, a Canadian corporation (“Tecumseh Products Canada”), TECUMSEH COMPRESSOR COMPANY, a Delaware corporation (“Tecumseh Compressor”), and EVERGY, INC., a Delaware corporation (“Evergy”) (Tecumseh Products, Tecumseh Products Canada, Tecumseh Compressor, and Evergy, are each a "Borrower" and jointly and severally, "Borrowers"), each with a place of business at 5683 Hines Drive, Ann Arbor, Michigan  48108, and PNC BANK, NATIONAL ASSOCIATION ("PNC"), the various financial institutions named therein or which hereafter become a party thereto, (together with PNC, collectively, "Lenders") and PNC as agent for Lenders (in such capacity, "Agent").  Capitalized terms not otherwise defined herein shall have the meanings provided in the Loan Agreement.
FOR VALUE RECEIVED, Borrowers hereby jointly and severally promise to pay to the order of PNC, at the office of Agent located at PNC Bank Center, Two Tower Center, 8th Floor, East Brunswick, New Jersey 08816 or at such other place as Agent may from time to time designate to Borrowers in writing:
(i)the principal sum of $34,000,000 or, if different, from such amount, the unpaid principal balance of PNC's Revolving Commitment Percentage of the Revolving Advances as may be due and owing under the Loan Agreement, payable in accordance with the provisions of the Loan Agreement, subject to acceleration upon the occurrence of an Event of Default under the Loan Agreement or earlier termination of the Loan Agreement pursuant to the terms thereof; and
(ii)    interest on the principal amount of this Note from time to time outstanding until such principal amount is paid in full at the applicable Revolving Interest Rate in accordance with the provisions of the Loan Agreement.  In no event, however, shall interest exceed the maximum interest rate permitted by law.  Upon and after the occurrence of an Event of Default, and during the continuation thereof, at the option of Agent or at the discretion of Required Lenders, interest shall be payable at the Default Rate.
This Note is one of the notes referred to in the Loan Agreement as the Revolving Credit Note and is secured, inter alia, by the liens granted pursuant to the Loan Agreement and the Other Documents, is entitled to the benefits of the Loan Agreement and the Other Documents and is subject to all of the agreements, terms and conditions therein contained.
This Note is subject to mandatory prepayment and may be voluntarily prepaid, in whole or in part, on the terms and conditions set forth in the Loan Agreement.
If an Event of Default under Section 10.7 or 10.8 of the Loan Agreement shall occur, then this Note shall immediately become due and payable, without notice, together with reasonable 

attorneys' fees if the collection hereof is placed in the hands of an attorney to obtain or enforce payment hereof.  If any other Event of Default shall occur under the Loan Agreement or any of the Loan Documents, which is not cured within any applicable grace period, then this Note may, as provided in the Loan Agreement, be declared to be immediately due and payable, without notice, together with reasonable attorneys' fees, if the collection hereof is placed in the hands of an attorney to obtain or enforce payment hereof.
This Note amends and restates and is in substitution and exchange for the $45,000,000 Revolving Credit Note dated April 21, 2011 (the "Old Note").  This Note is not a novation of the Old Note and does not pay, terminate, extinguish, or discharge the undersigned's indebtedness evidenced by the Old Note.  All indebtedness evidenced by the Old Note continues under and is evidenced and governed by this Note.  Any reference to the Old Note in any other document is to be treated as a reference to this Note.
This Note shall be construed and enforced in accordance with the laws of the State of Michigan.

[Remainder of Page Intentionally Left Blank]

2

Borrowers expressly waive any presentment, demand, protest, notice of protest, or notice of any kind except as expressly provided in the Loan Agreement.
TECUMSEH PRODUCTS COMPANY 
TECUMSEH COMPRESSOR COMPANY 
TECUMSEH PRODUCTS OF CANADA, LIMITED 
EVERGY, INC.
                	
		
	By:
	/s/  Janice E. Stipp

	 
	Janice E. Stipp, Chief Financial Officer and Treasurer

	 
	 

SIGNATURE PAGE TO REVOLVING CREDIT NOTE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]