SEC Contract Filing

Filing Date: 2023-08-17

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d539329dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT AGREEMENT NO. 8 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">AMENDMENT AGREEMENT NO. 8, dated as of August&nbsp;16, 2023 (this &#147;<U>Amendment</U>&#148;), by and among AVIENT CORPORATION (formerly
known as POLYONE CORPORATION), an Ohio corporation (the &#147;<U>Borrower</U>&#148;), the other Loan Parties party hereto, the existing Lenders (the &#147;<U>Existing Lenders</U>&#148;) under, and as defined in, the Credit Agreement (as hereinafter
defined) party hereto, CITIBANK, N.A. (&#147;<U>Citibank</U>&#148;), as the administrative agent (in such capacity, the &#147;<U>Administrative Agent</U>&#148;), and MORGAN STANLEY BANK, N.A., as the Amendment No.&nbsp;8 Additional Term Lender. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS: </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
reference is hereby made to the Credit Agreement, dated as of November&nbsp;12, 2015 (as amended by Amendment Agreement No.&nbsp;1, dated as of June&nbsp;15, 2016, Amendment Agreement No.&nbsp;2, dated as of August&nbsp;3, 2016, Amendment Agreement
No.&nbsp;3, dated as of January&nbsp;24, 2017, Amendment Agreement No.&nbsp;4, dated as of August&nbsp;15, 2017, Amendment Agreement No.&nbsp;5, dated as of April&nbsp;11, 2018, Amendment Agreement No.&nbsp;6, dated as of November&nbsp;9, 2018,
Amendment Agreement No.&nbsp;7, dated as of August&nbsp;29, 2022, the LIBOR Transition Amendment, dated as of September&nbsp;8, 2022, and as the same may be otherwise amended, restated, amended and restated, supplemented, extended, refinanced or
otherwise modified from time to time, the &#147;<U>Credit Agreement</U>&#148;; the Credit Agreement as amended by this Amendment, the &#147;<U>Amended Credit Agreement</U>&#148;), by and among the Borrower, the Lenders from time to time party
thereto and Citibank in its capacity as Administrative Agent under the Credit Agreement (capitalized terms used in this Amendment but not defined herein shall have the meaning assigned to such terms in the Amended Credit Agreement or, if applicable,
the Credit Agreement); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on the date hereof, the Borrower, the Administrative Agent and the Lenders party hereto desire to amend
the Credit Agreement pursuant to amendments authorized by Section&nbsp;2.15 of the Credit Agreement to create the Term <FONT STYLE="white-space:nowrap">B-7</FONT> Loans the proceeds of which, together with the Borrower Prepayment (as defined below),
will be used to repay in full the outstanding principal amount of the Term <FONT STYLE="white-space:nowrap">B-5</FONT> Loans and Term <FONT STYLE="white-space:nowrap">B-6</FONT> Loans in accordance with Section&nbsp;2.03(b)(ii) of the Credit
Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, upon the effectiveness of this Amendment, each Term <FONT STYLE="white-space:nowrap">B-5</FONT> Lender and Term <FONT
STYLE="white-space:nowrap">B-6</FONT> Lender that shall have executed and delivered a consent to this Amendment substantially in the form of <U>Exhibit A</U> hereto (an &#147;<U>Amendment No.</U><U></U><U>&nbsp;8 Consent</U>&#148;) indicating the
&#147;Cashless Settlement Option&#148; with respect to its existing Term <FONT STYLE="white-space:nowrap">B-5</FONT> Loans or its existing Term <FONT STYLE="white-space:nowrap">B-6</FONT> Loans, as applicable, (each, a &#147;<U>Term <FONT
STYLE="white-space:nowrap">B-7</FONT> Cashless Option Lender</U>&#148;) shall be deemed to have exchanged all of its Term <FONT STYLE="white-space:nowrap">B-5</FONT> Loans and/or Term <FONT STYLE="white-space:nowrap">B-6</FONT> Loans, as applicable,
for Term <FONT STYLE="white-space:nowrap">B-7</FONT> Loans, in the same aggregate principal amount as such Lender&#146;s Term <FONT STYLE="white-space:nowrap">B-5</FONT> Loans and/or Term <FONT STYLE="white-space:nowrap">B-6</FONT> Loans, as
applicable, as of the Amendment No.&nbsp;8 Effective Date and prior to giving effect to this Amendment, and such Lenders shall thereafter become Term <FONT STYLE="white-space:nowrap">B-7</FONT> Lenders in accordance with the provisions hereof; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, upon the effectiveness of this Amendment, (i)&nbsp;the Amendment No.&nbsp;8
Additional Term Lender will make Additional Term <FONT STYLE="white-space:nowrap">B-7</FONT> Loans to the Borrower, the proceeds of which, together with the Borrower Prepayment, will be used by the Borrower to repay in full the outstanding principal
amount of Term <FONT STYLE="white-space:nowrap">B-5</FONT> Loans and Term <FONT STYLE="white-space:nowrap">B-6</FONT> Loans that are not exchanged for Term <FONT STYLE="white-space:nowrap">B-7</FONT> Loans as well as to prepay Term <FONT
STYLE="white-space:nowrap">B-5</FONT> Loans and Term <FONT STYLE="white-space:nowrap">B-6</FONT> Loans, respectively, from Lenders that execute and deliver an Amendm