SEC Contract Filing

Filing Date: 2016-05-16

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d169394dex101.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:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>FIRST AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">This First Amendment to Revolving Credit and Security Agreement (this &#147;First Amendment&#148;) is dated this 13<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> day of May,&nbsp;2016, by and among OREGON METALLURGICAL, LLC, an Oregon limited liability company, ALLEGHENY LUDLUM, LLC, a Pennsylvania limited liability company, TDY INDUSTRIES, LLC, a California
limited liability company, INTERNATIONAL HEARTH MELTING, LLC, an Oregon limited liability company, ATI PRECISION FINISHING, LLC, a Pennsylvania limited liability company, TITANIUM WIRE CORPORATION, a Pennsylvania corporation, ENVIRONMENTAL, INC., a
California corporation, ATI TITANIUM LLC, a Delaware limited liability company, ATI FLOWFORM PRODUCTS, LLC, a Delaware limited liability company, ATI LADISH LLC, a Wisconsin limited liability company, VALLEY MACHINING, INC., a Wisconsin corporation,
ATI LADISH MACHINING, INC., a Nevada corporation, CHEN-TECH INDUSTRIES, INC., a Nevada corporation, PACIFIC CAST TECHNOLOGIES, INC., a Nevada corporation, ATI POWDER METALS LLC, a Pennsylvania limited liability company, and ATI CAST PRODUCTS SALEM
OPERATIONS, LLC, a Delaware limited liability company and each Person joined hereto as a borrower from time to time, collectively, the &#147;Borrowers&#148;, and each a &#147;Borrower&#148;), the Guarantors (as defined therein) party hereto, the
LENDERS (as defined therein) party hereto, and PNC BANK, NATIONAL ASSOCIATION, in its capacity as agent for the Lenders (hereinafter referred to in such capacity as the &#147;Agent&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>W</U> <U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U>: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrowers, the Guarantors, the Lenders and the Agent entered into that certain Revolving Credit and Security Agreement, dated
effective as of September&nbsp;23, 2015, by and among the Borrowers, the Guarantors, the Lenders and the Agent (as amended, modified, supplemented, extended, renewed or restated from time to time, the &#147;Credit Agreement&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrowers desire to amend certain provisions of the Credit Agreement which provisions require only Required Lenders approval, and
the Required Lenders and the Agent agree to permit such amendments pursuant to the terms and conditions set forth herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">WHEREAS,
the Borrowers desire to amend certain provisions of the Credit Agreement which provisions require either unanimous Lender consent or the consent of the affected Lenders, and the Lenders and the Agent agree to permit such amendments pursuant to the
terms and conditions set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises contained herein and other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties hereto agree as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All capitalized terms used herein which are defined in the Credit
Agreement shall have the same meanings herein as in the Credit Agreement unless the context herein clearly indicates otherwise. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The cover page of the Credit Agreement is hereby deleted in its
entirety and in its stead is inserted the cover page attached hereto and incorporated herein by reference thereto. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The LIST OF EXHIBITS
AND SCHEDULES to the Credit Agreement is hereby amended to insert in the list of Exhibits contained therein a new reference to &#147;Exhibit 2.3(a) &#150; Term Loan.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:6%; font-size:10pt; font-family:Times New Roman">4. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1.2 of the Credit Agreement is hereby amended by
inserting the following new definitions in their appropriate alphabetical order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; margin-right:13%; text-indent:6%; font-size:10pt; font-family:Times New Roman">&#147;<U>2019 Senior
Unsecured Notes</U>&#148; shall mean those certain 9.375% Notes due 2019, issued by ATI, as the same exist on the First Amendment Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; margin-right:13%; text-indent:6%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted