SEC Contract Filing

Filing Date: 2015-01-07

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>11
<FILENAME>d846379dex103.htm
<DESCRIPTION>EX-10.3
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<TITLE>EX-10.3</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 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SUPPLEMENT NO. 1 TO GUARANTEE AND COLLATERAL AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SUPPLEMENT NO. 1 dated as of January&nbsp;7, 2015 (this &#147;<B>Supplement</B>&#148;), to the Guarantee and Collateral Agreement dated as of
May&nbsp;4, 2012 (the &#147;<B>Guarantee and Collateral Agreement</B>&#148;), among VERSO PAPER FINANCE HOLDINGS LLC, a Delaware limited liability company (&#147;<B>Holdings</B>&#148;), VERSO PAPER HOLDINGS LLC, a Delaware limited liability company
(the &#147;<B>Company</B>&#148;) each Subsidiary of the Company identified on Schedule I or otherwise identified therein as a party (each, a &#147;<B>Subsidiary Party</B>&#148;), and CITIBANK, N.A., as Administrative Agent (in such capacity,
together with any successor administrative agent, the &#147;<B>Administrative Agent</B>&#148;) for the Secured Parties (as defined therein). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.16 of the Guarantee and Collateral Agreement provides that additional Subsidiaries may become Subsidiary Parties under the
Guarantee and Collateral Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the &#147;<B>New Subsidiary</B>&#148;) is executing this Supplement to become a Subsidiary Party under the
Guarantee and Collateral Agreement in order to induce the Secured Parties to make or continue extensions of credit. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Accordingly, the
Administrative Agent and the New Subsidiary agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. In accordance with Section&nbsp;7.16 of the Guarantee and
Collateral Agreement, the New Subsidiary by its signature below becomes a Subsidiary Party, a Guarantor and a Pledgor under the Guarantee and Collateral Agreement with the same force and effect as if originally named therein as a Subsidiary Party, a
Guarantor and a Pledgor, and the New Subsidiary hereby (a)&nbsp;agrees to all the terms and provisions of the Guarantee and Collateral Agreement applicable to it as a Subsidiary Party, a Guarantor and a Pledgor thereunder and (b)&nbsp;represents and
warrants that the representations and warranties made by it as a Guarantor and a Pledgor thereunder are true and correct, in all material respects, on and as of the date hereof. In furtherance of the foregoing, the New Subsidiary, as security for
the payment and performance in full of the Obligations (as defined in the Guarantee and Collateral Agreement), does hereby create and grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in and Lien
on all the New Subsidiary&#146;s right, title and interest in and to the Collateral (as defined in the Guarantee and Collateral Agreement) of the New Subsidiary. Each reference to a &#147;<B>Subsidiary Party</B>&#148;, a &#147;<B>Guarantor</B>&#148;
or a &#147;<B>Pledgor</B>&#148; in the Guarantee and Collateral Agreement shall be deemed to include the New Subsidiary. The Guarantee and Collateral Agreement is hereby incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. The New Subsidiary represents and warrants to the Administrative Agent and the other Secured Parties that this Supplement has been
duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to (i)&nbsp;the effects of bankruptcy, insolvency, moratorium, reorganization,
fraudulent conveyance or other similar laws affecting creditors&#146; rights generally, (ii)&nbsp;general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii)&nbsp;implied
covenants of good faith and fair dealing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. This Agreement may be executed in two or more counterparts, each of which shall
constitute an original but all of which when taken together shall constitute but one contract. This Supplement shall become effective when (a)&nbsp;the Administrative Agent shall have received a counterpart of this Supplement that bears the
signature of the New Subsidiary and (b)&nbsp;the Administrative Agent has executed a counterpart hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. The New Subsidiary
hereby represents and warrants that (a)&nbsp;set forth on Schedule I attached hereto is a true and correct schedule of all the Pledged Securities of the New Subsidiary as of the date hereof, (b)&nbsp;set forth on Schedule II attached hereto is a
true and correct schedule of all of the material Patents, Trademarks and Copyrights o