SEC Contract Filing

Filing Date: 2016-03-11

Document Content:
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<TYPE>EX-10.20
<SEQUENCE>5
<FILENAME>d45086dex1020.htm
<DESCRIPTION>EX-10.20
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.20 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO.&nbsp;1 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TO
AMENDED AND RESTATED LOAN AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This AMENDMENT NO.&nbsp;1 TO AMENDED AND RESTATED LOAN AGREEMENT (this
&#147;<U>Amendment</U>&#148;), is entered into as of November 6, 2015, by and among <B>PREFORMED LINE PRODUCTS COMPANY, </B>an Ohio corporation (&#147;<U>PLP</U>&#148;), <B>PREFORMED LINE PRODUCTS (AUSTRALIA) PTY LTD.</B>, a corporation incorporated
under the laws of the Commonwealth of Australia (&#147;<U>PLP Australia</U>&#148; and together with PLP, the &#147;<U>Borrowers</U>&#148; and each a &#147;<U>Borrower</U>&#148;)<B> AND PNC BANK, NATIONAL ASSOCIATION, </B>a national banking
association, its successors and assigns, as lender (&#147;<U>Bank</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>WITNESSETH</U>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Borrowers and Bank have entered into that certain Amended and Restated Loan Agreement, dated as of September&nbsp;24, 2015 (as
amended, restated, modified or supplemented from time to time, the &#147;<U>Loan Agreement</U>&#148;), pursuant to which Bank has made certain loans and financial accommodations available to Borrowers; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the parties desire to amend the Loan Agreement as hereinafter set forth; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein and other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties hereto do hereby agree as follows: </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>DEFINED TERMS. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each defined term used herein and not otherwise defined herein shall
have the meaning ascribed to such term in the Loan Agreement. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>AMENDMENTS TO THE LOAN AGREEMENT. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1 <U>Amendment to Addendum</U>.<B> </B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Addendum to the Loan Agreement is amended in its entirety as set forth on the attached <U>Attachment A</U>. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>REPRESENTATIONS AND WARRANTIES. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each of the Borrowers hereby represents and warrants to
Bank as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.1 <U>The Amendment</U>.&nbsp;This Amendment has been duly and validly executed by an authorized officer of such
Borrower and constitutes the legal, valid and binding obligation of such Borrower enforceable against such Borrower in accordance with its terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.2 <U>Loan Agreement</U>.&nbsp;The Loan Agreement, as amended by this Amendment, remains in full force and effect and remains the valid and
binding obligation of each Borrower enforceable against each Borrower in accordance with its terms.&nbsp;Each Borrower hereby ratifies and confirms the Loan Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.3 <U>Claims and Defenses</U>. As of the date of this Amendment, no Borrower has any defenses, claims, counterclaims or setoffs with respect
to the Loan Agreement or its Obligations thereunder or with respect to any actions of Bank or any of its respective officers, directors, shareholders, employees, agents or attorneys, and Borrower irrevocably and absolutely waives any such defenses,
claims, counterclaims and setoffs and releases Bank and each of its respective officers, directors, shareholders, employees, agents and attorneys from the same. </P>

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