SEC Contract Filing

Filing Date: 2015-04-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>a3312015exhibit103.htm
<DESCRIPTION>AMENDMENT NO. 2 TO THE CREDIT AGREEMENT
<TEXT>
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 <title>3.31.2015 Exhibit 10.3</title>
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<a name="s5e3ddf327f2b4185a30797e01f479a6d"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">EXHIBIT 10.3</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-top:3px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXECUTION VERSION</font></div><div style="line-height:120%;padding-top:5px;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT NO. 2, dated as of February 27, 2015 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), to the Credit Agreement, dated as of March 14, 2013, as amended by the Amendment Agreement, dated as of February 5, 2014 (as amended, supplemented or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), among ASHLAND INC., a Kentucky corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221;), THE BANK OF NOVA SCOTIA, as administrative agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;), each Lender from time to time party thereto and the other agents and arrangers party thereto. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, Section 10.01 of the Credit Agreement provides that the Credit Agreement and any other Loan Documents may be amended or waived to effect certain changes thereto with the written consent of the Required Lenders and the acknowledgment of the Administrative Agent;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Borrower desires to amend and waive, and the Borrower has requested that the Required Lenders and the Administrative Agent agree to amend and waive, the Credit Agreement on the terms set forth herein;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Lenders signatory hereto, constituting the Required Lenders, and the Administrative Agent are willing to agree to the amendments and waivers of the Credit Agreement described herein subject to the terms and conditions contained herein;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:</font></div><div style="line-height:120%;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:6px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 1.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Amendments</font><font style="font-family:inherit;font-size:12pt;">. Subject to the satisfaction of the conditions set forth in Section 2 hereof, upon the Effective Date (as defined below), the Required Lenders consent to the following amendments to the Credit Agreement and to a waiver of any Default or Event of Default under the Credit Agreement from the Closing Date to the Effective Date arising solely out of failure to deliver consolidating financial statements of the Borrower and its Subsidiaries or inaccuracy of representations and warranties regarding consolidating financial statements of the Borrower and its Subsidiaries (or, in each case, any failure to give notice thereof):</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:6px;text-align:le