Document:

EX-4.33

 Exhibit 4.33 

WAIVER AND AMENDMENT NO. 1 

TO CREDIT AGREEMENT 

This WAIVER AND AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”), dated as of March 4, 2014, by and among Wise
Alloys LLC, a Delaware limited liability company (the “Borrower”), the other Credit Parties signatory hereto, General Electric Capital Corporation, as Agent (“Agent”), and the Lenders signatory hereto, amends that
certain Credit Agreement, dated as of December 11, 2013 (the “Credit Agreement”), by and among the Borrower, the other Credit Parties party thereto, Agent, and the Lenders from time to time party thereto. Capitalized terms used
herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement. 
 WHEREAS, Defaults and
Events of Default (collectively, the “Specified Defaults”) have occurred under Sections 6.1(c) and 6.1(d) of the Credit Agreement due to the Borrower’s failure to deliver to Agent and each Lender (i) monthly
financial statements in respect of the November 2013 fiscal month within thirty (30) days after the end of the November 2013 fiscal month, as currently required pursuant to Section 4.1(c) of the Credit Agreement (such monthly
financial statements, the “November 2013 Financials”), (ii) a report in respect of the November 2013 Financials setting forth in comparative form the corresponding figures of the previous Fiscal Year and the corresponding
figures from the most recent projections delivered pursuant to the Credit Agreement, and discussing the reasons for any significant variations, which report is required to be delivered with the November 2013 Financials pursuant to
Section 4.2(a) of the Credit Agreement, (iii) quarterly financial statements in respect of the last Fiscal Quarter of the 2013 Fiscal Year within forty-five (45) days after the end of such Fiscal Quarter, as currently required
pursuant to Section 4.1(b) of the Credit Agreement (such quarterly financial statements, the “Quarterly Financials”), (iv) a report in respect of the Quarterly Financials setting forth in comparative form the
corresponding figures of the previous Fiscal Year and the corresponding figures from the most recent projections delivered pursuant to the Credit Agreement, and discussing the reasons for any significant variations, which report is required to be
delivered with the Quarterly Financials pursuant to Section 4.2(a) of the Credit Agreement, (v) Compliance Certificates which are required to be delivered concurrently with the delivery of the November 2013 Financials and the
Quarterly Financials pursuant to Section 4.2(b) of the Credit Agreement, (vi) reconciliations described in Section 4.2(i) of the Credit Agreement, which are required to be delivered at the time of delivery of the
November 2013 Financials, and (vii) a Borrowing Base Certificate setting forth the Borrowing Base as at the end of the December 2013 calendar month within twenty (20) days after the end of the December 2013 calendar month, as currently
required pursuant to Section 4.2(d) of the Credit Agreement; 
 WHEREAS, the Borrower has requested that Agent and Lenders agree
to waive the Specified Defaults and to make certain amendments to the Credit Agreement; and 
 WHEREAS, the Lenders party hereto and Agent
have agreed to waive the Specified Defaults and make such amendments, in each case, subject to the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to enter into this Amendment. 

1. Waiver. Subject to the satisfaction of the condition precedent set forth in Paragraph 3 of this Amendment, Agent and the
Lenders hereby waive the Specified Defaults. 

 2. Amendment to Credit Agreement. Subject to the satisfaction of the condition precedent
set forth in Paragraph 3 of this Amendment, Section 4.2(a) of the Credit Agreement is hereby amended and restated to read as follows: 

(a) together with each delivery of financial statements pursuant to Sections 4.1(a) and 4.1(b), a report setting forth in
comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year and the corresponding figures from the most recent projections for the current Fiscal Year delivered pursuant to Section 4.2(l) and
discussing the reasons for any significant variations; 
 3. Effectiveness of this Amendment; Condition Precedent. The provisions of
this Amendment shall be deemed to have become effective as of the date of this Amendment, but such effectiveness shall be expressly conditioned upon Agent’s receipt of a counterpart of this Amendment executed and delivered by duly authorized
officers of the Borrower, each other Credit Party, the Required Lenders and Agent. 
 4. Miscellaneous. 

(a) Headings. The various headings of this Amendment are inserted for convenience of reference only and shall not affect the meaning or
interpretation of this Amendment or any provisions hereof. 
 (b) Counterparts. This Amendment may be executed by the parties hereto
in several counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or other
electronic transmission shall be effective as delivery of a manually executed counterpart thereof. 
 (c) Interpretation. No
provision of this Amendment shall be construed against or interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party’s having or being deemed to have structured, drafted
or dictated such provision. 
 (d) Representations and Warranties. Each Credit Party hereby represents and warrants that, as of the
date hereof: 
 (i) this Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and binding
obligation of such Credit Party, enforceable against it in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditor’s rights
generally or by equitable principles relating to enforceability; 
 (ii) its execution, delivery and performance of this
Amendment and its performance of the Credit Agreement, as amended hereby, have been duly authorized by all necessary action, and do not and will not: (1) contravene the terms of its Organizational Documents, (2) conflict with or result in
any material breach or contravention of, or result in the creation of any Lien under, any document evidencing any material Contractual Obligation to which it is a party or any order, injunction, writ or decree of any Governmental Authority to which
it or its Property is subject, or (3) violate any Requirement of Law in any material respect; and 
 (iii) after giving
effect to this Amendment, (1) no Default or Event of Default has occurred and is continuing and (2) each representation and warranty of such Credit Party contained in the Credit Agreement and in each other Loan Document to which it is a
party is true and correct in all material respects (without duplication of any materiality qualifier contained therein), except to the extent that such representation or warranty expressly relates to an earlier date (in which event such
representation or warranty is true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date). 

  
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 (e) Governing Law. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN ALL MATTERS ARISING
OUT OF, IN CONNECTION WITH, OR RELATING TO, THIS AMENDMENT. 
 (f) Effect. Upon the effectiveness of this Amendment, each
reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby, and each reference in the other Loan
Documents to the Credit Agreement, “thereunder,” “thereof,” or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby. Except as expressly provided in this Amendment, all of the terms,
conditions and provisions of the Credit Agreement and the other Loan Documents shall remain the same. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement. 

(g) No Other Waiver. Except as specifically set forth in this Amendment, the execution, delivery and effectiveness of this Amendment
shall not (a) limit, impair, constitute a waiver by, or otherwise affect any right, power or remedy of, Agent or any Lender under the Credit Agreement or any other Loan Document, (b) constitute a waiver of any provision in the Credit
Agreement or any other Loan Document or of any Default or Event of Default that may have occurred and be continuing or (c) alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in
the Credit Agreement or in any of the other Loan Documents, all of which are ratified and affirmed in all respects and shall continue in full force and effect. 

(h) Agent’s Expenses. The Borrower hereby agrees to promptly reimburse Agent for all of the reasonable out-of-pocket costs and
expenses, including, without limitation, attorneys’ and paralegals’ fees, it has heretofore or hereafter incurred or incurs in connection with the preparation, negotiation and execution of this Amendment. 

[SIGNATURE PAGES FOLLOW] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first
above written. 
  

					
	WISE ALLOYS LLC, as the Borrower
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Chief Legal Officer
	
	WISE METALS GROUP LLC, as a Credit Party
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Chief Legal Officer
	
	WISE ALLOYS FINANCE CORPORATION, as a Credit Party
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Chief Legal Officer
	
	WISE ALLOYS FINANCE CORPORATION, as a Credit Party
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Chief Legal Officer
	
	ALABAMA ELECTRIC MOTOR SERVICES, LLC, as a Credit Party
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Chief Legal Officer

  
 Signature Page to 

Waiver and Amendment No. 1 
 (Wise
Alloys LLC) 

 
					
	 GENERAL ELECTRIC CAPITAL

CORPORATION, as Agent, Swingline Lender and a Lender

		
	By:	 	 /s/ Thomas G. Sullivan

		 	Name:	 	Thomas G. Sullivan
		 	Title:	 	Duly Authorized Signatory

  
 Signature Page to 

Waiver and Amendment No. 1 
 (Wise
Alloys LLC) 

 
					
	GE CAPITAL BANK, as a Lender
		
	By:	 	 /s/ Woodrow Broaders Jr.

		 	Name:	 	Woodrow Broaders Jr.
		 	Title:	 	Duly Authorized Signatory

  
 Signature Page to 

Waiver and Amendment No. 1 
 (Wise
Alloys LLC) 

 
					
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ Kenneth B. Butler

		 	Name:	 	Kenneth B. Butler
		 	Title:	 	Senior Vice President

  
 Signature Page to 

Waiver and Amendment No. 1 
 (Wise
Alloys LLC)EX-4.34

 Exhibit 4.34 

CONSENT AND AMENDMENT NO. 2 

TO CREDIT AGREEMENT 

This CONSENT AND AMENDMENT NO. 2 TO CREDIT AGREEMENT (this “Amendment”), dated as of June 30, 2014, by and among Wise
Alloys LLC, a Delaware limited liability company (the “Borrower”), the other Credit Parties signatory hereto, General Electric Capital Corporation, as Agent (“Agent”), and the Lenders signatory hereto, amends that
certain Credit Agreement, dated as of December 11, 2013 (as amended prior to the date hereof, the “Credit Agreement”), by and among the Borrower, the other Credit Parties party thereto, Agent, and the Lenders from time to time
party thereto. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement. 

WHEREAS, the Borrower has informed Agent and the Lenders that Holdings is expected, on the date hereof, to distribute (the “Specified
Distribution”) all of the Stock of Wise Recycling, LLC, a Maryland limited liability company (“Wise Recycling”), owned by Holdings to the sole member of Holdings, Wise Metals Intermediate Holdings LLC, a Delaware limited
liability company (“Wise Intermediate”), and, immediately following such Specified Distribution, Wise Intermediate shall distribute all of such Stock of Wise Recycling to the sole member of Wise Intermediate, Wise Metals Holdings
LLC, a Delaware limited liability company; 
 WHEREAS, pursuant to that certain Consent Memorandum, dated April 8, 2014 (the
“April 2014 Consent Memorandum”), by and among Agent, the Lenders party thereto and the Credit Parties, the Credit Parties agreed that the Credit Parties and their Restricted Subsidiaries would not make any further Restricted
Payments during the 2014 Fiscal Year pursuant to Section 5.10(g) of the Credit Agreement; 
 WHEREAS, the Borrower has requested
that Agent and the Lenders (i) consent to the Specified Distribution and agree that Holdings may make certain additional Restricted Payments during the 2014 Fiscal Year, notwithstanding the limitations contained in Section 5.2 or
5.10 of the Credit Agreement or the April 2014 Consent Memorandum and (ii) agree to make certain amendments to the Credit Agreement; and 

WHEREAS, the Lenders party hereto and Agent have so agreed, subject to the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to enter into this Amendment. 

1. Consent. Subject to the satisfaction of the conditions precedent set forth in Paragraph 3 of this Amendment, Agent and the
Lenders hereby agree that, notwithstanding the limitations contained in Section 5.2 or 5.10 of the Credit Agreement or the April 2014 Consent Memorandum, (a) Holdings may make the Specified Distribution on the date hereof and
(b) the Credit Parties and their Restricted Subsidiaries may make further Restricted Payments during the 2014 Fiscal Year pursuant to, and in accordance with, Section 5.10(g) of the Credit Agreement

 
so long as the sum of (i) the aggregate amount of Investments made by the Credit Parties and their Restricted Subsidiaries in Wise Recycling and its Subsidiaries on and after the date hereof
plus (ii) the aggregate amount of Restricted Payments made on and after the date hereof during the 2014 Fiscal Year pursuant to Section 5.10(g) of the Credit Agreement does not exceed $2,000,000. 

2. Amendment to Credit Agreement. Subject to the satisfaction of the conditions precedent set forth in Paragraph 3 of this
Amendment, the reference to the figure “$15,000,000” in Section 5.4(h) of the Credit Agreement is hereby replaced with the figure “$2,000,000”. 

3. Effectiveness of this Amendment; Conditions Precedent. The provisions of this Amendment shall be deemed to have become effective as
of the date of this Amendment, but such effectiveness shall be expressly conditioned upon Agent’s receipt of (a) a counterpart of this Amendment executed and delivered by duly authorized officers of the Borrower, each other Credit Party,
the Required Lenders and Agent and (b) evidence reasonably satisfactory to Agent that the credit facility evidenced by that certain Credit Agreement, dated as of December 11, 2013, by and among Wise Recycling, as the Borrower, the other
Credit Parties party thereto, GE Capital, as Agent, and the lenders from time to time party thereto, as amended, has been terminated and cancelled, all indebtedness thereunder has been fully repaid and all liens thereunder have been terminated. 

4. Miscellaneous. 
 (a)
Headings. The various headings of this Amendment are inserted for convenience of reference only and shall not affect the meaning or interpretation of this Amendment or any provisions hereof. 

(b) Counterparts. This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an
original and all of which together shall be deemed to be one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or other electronic transmission shall be effective as delivery of a
manually executed counterpart thereof. 
 (c) Interpretation. No provision of this Amendment shall be construed against or
interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party’s having or being deemed to have structured, drafted or dictated such provision. 

(d) Representations and Warranties. Each Credit Party hereby represents and warrants that, as of the date hereof: 

(i) this Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and binding obligation of such
Credit Party, enforceable against it in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditor’s rights generally or by
equitable principles relating to enforceability; 

  
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 (ii) its execution, delivery and performance of this Amendment and its
performance of the Credit Agreement, as amended hereby, have been duly authorized by all necessary action, and do not and will not: (1) contravene the terms of its Organizational Documents, (2) conflict with or result in any material
breach or contravention of, or result in the creation of any Lien under, any document evidencing any material Contractual Obligation to which it is a party or any order, injunction, writ or decree of any Governmental Authority to which it or its
Property is subject, or (3) violate any Requirement of Law in any material respect; and 
 (iii) after giving effect to
this Amendment, (1) no Default or Event of Default has occurred and is continuing and (2) each representation and warranty of such Credit Party contained in the Credit Agreement and in each other Loan Document to which it is a party is
true and correct in all material respects (without duplication of any materiality qualifier contained therein), except to the extent that such representation or warranty expressly relates to an earlier date (in which event such representation or
warranty is true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date). 

(e) Governing Law. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN ALL MATTERS ARISING OUT OF, IN CONNECTION WITH, OR RELATING TO,
THIS AMENDMENT. 
 (f) Effect. Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof” or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby, and each reference in the other Loan Documents to the Credit Agreement,
“thereunder,” “thereof,” or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby. Except as expressly provided in this Amendment, all of the terms, conditions and provisions of the Credit
Agreement and the other Loan Documents shall remain the same. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement. 

(g) No Other Waiver. Except as specifically set forth in this Amendment, the execution, delivery and effectiveness of this Amendment
shall not (a) limit, impair, constitute a waiver by, or otherwise affect any right, power or remedy of, Agent or any Lender under the Credit Agreement or any other Loan Document, (b) constitute a waiver of any provision in the Credit
Agreement or any other Loan Document or of any Default or Event of Default that may have occurred and be continuing or (c) alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in
the Credit Agreement or in any of the other Loan Documents, all of which are ratified and affirmed in all respects and shall continue in full force and effect. 

(h) Agent’s Expenses. The Borrower hereby agrees to promptly reimburse Agent for all of the reasonable out-of-pocket costs and
expenses, including, without limitation, attorneys’ and paralegals’ fees, it has heretofore or hereafter incurred or incurs in connection with the preparation, negotiation and execution of this Amendment. 

[SIGNATURE PAGES FOLLOW] 

  
 -3- 

 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first
above written. 
  

					
	WISE ALLOYS LLC, as the Borrower
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Secretary
	
	WISE METALS GROUP LLC, as a Credit Party
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Secretary
	
	WISE ALLOYS FINANCE CORPORATION, as a Credit Party LLC
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Secretary
	
	WISE ALLOYS FINANCE CORPORATION, as a Credit Party LLC
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Secretary
	
	ALABAMA ELECTRIC MOTOR SERVICES, LLC, as a Credit Party
		
	By:	 	 /s/ Robert Ericson

		 	Name:	 	Robert Ericson
		 	Title:	 	Executive Vice President and Secretary

  
 Signature Page to 

Consent and Amendment No. 2 
 (Wise
Alloys LLC) 

 
					
	GENERAL ELECTRIC CAPITAL CORPORATION, as Agent, Swingline Lender and a Lender
		
	By:	 	 /s/ Matthew N. McAlpine

		 	Name:	 	Matthew N. McAlpine
		 	Title:	 	Duly Authorized Signatory

  
 Signature Page to 

Consent and Amendment No. 2 
 (Wise
Alloys LLC) 

 
					
	GE CAPITAL BANK, as a Lender
		
	By:	 	 /s/ Woodrow Broaders Jr.

		 	Name:	 	Woodrow Broaders Jr.
		 	Title:	 	Duly Authorized Signatory

  
 Signature Page to 

Consent and Amendment No. 2 
 (Wise
Alloys LLC) 

 
					
	GE ASSET BASED MASTER NOTE, as a Lender
		
	By:	 	 /s/ Matthew N. McAlpine

		 	Name:	 	Matthew N. McAlpine
		 	Title:	 	Duly Authorized Signatory

  
 Signature Page to 

Consent and Amendment No. 2 
 (Wise
Alloys LLC) 

 
					
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ Kenneth B. Butler

		 	Name:	 	Kenneth B. Butler
		 	Title:	 	Senior Vice President

  
 Signature Page to 

Consent and Amendment No. 2 
 (Wise
Alloys LLC) 

 
					
	REGIONS BANK, as a Lender
		
	By:	 	 /s/ Debra L. Coheley

		 	Name:	 	Debra L. Coheley
		 	Title:	 	Senior Vice President

  
 Signature Page to 

Consent and Amendment No. 2 
 (Wise
Alloys LLC) 

 
					
	HVB CAPITAL CREDIT LLC, as a Lender
		
	By:	 	 /s/ Mark Fagnoni

		 	Name:	 	Mark Fagnoni
		 	Title:	 	First Senior Vice President

  
 Signature Page to 

Consent and Amendment No. 2 
 (Wise
Alloys LLC)

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