SEC Contract Filing

Filing Date: 2022-03-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.17
<SEQUENCE>2
<FILENAME>kro-20211231xex10d17.htm
<DESCRIPTION>EX-10.17
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 3/9/2022 08:30:43 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title>EXHIBIT A</title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:28.8pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 10.17</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">UNSECURED REVOLVING</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">DEMAND PROMISSORY NOTE</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:12pt;font-weight:bold;margin-bottom:12pt;margin-left:0pt;margin-top:0pt;overflow:hidden;position:relative;text-align:justify;"><font style="padding-bottom:2.0pt;padding-right:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;text-align:justify;">$30,000,000.00</b></font><font style="display:block;height:1px;left:0pt;position:absolute;width:100%;z-index:0;">&#8204;</font><font style="float:right;padding-left:2.0pt;position:relative;text-indent:0pt;z-index:1;background:white;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;text-align:justify;">December 31, 2021</b></font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-indent:0pt;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="display:none;line-height:0pt;margin:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:0pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Section&#160;</b><b style="font-weight:bold;">1.</b><b style="font-weight:bold;">&#160;&#160;</b><font style="font-style:italic;font-weight:bold;">Promise to Pay</font>.<b style="font-weight:bold;">&#160;&#160;</b>For and in consideration of value received, the undersigned, <font style="font-variant:small-caps;">Valhi, Inc.</font>, a corporation duly organized under the laws of the state of Delaware (&#8220;<i style="font-style:italic;">Borrower</i>&#8221;), promises to pay, in lawful money of the United States of America, to the order of <font style="font-variant:small-caps;">Kronos Worldwide, Inc.</font>, a corporation duly organized under the laws of the state of Delaware (&#8220;<i style="font-style:italic;">Kronos Worldwide</i>&#8221;), or the holder hereof (as applicable, Kronos Worldwide or such holder shall be referred to as the &#8220;<i style="font-style:italic;">Noteholder</i>&#8221;), the principal sum of THIRTY MILLION and NO/100ths United States Dollars ($30,000,000.00) or such lesser amount as shall equal the unpaid principal amount of the loan made by the Noteholder to Borrower together with accrued and unpaid interest on the unpaid principal balance from time to time pursuant to the terms of this Unsecured Revolving Demand Promissory Note, as it may be amended from time to time (this &#8220;<i style="font-style:italic;">Note</i>&#8221;). &#160;This Note shall be unsecured and will bear interest on the terms set forth in <b style="font-weight:bold;">Section 7</b> below. Capitalized terms not otherwise defined shall have the meanings given to such terms in <b style="font-weight:bold;">Section&#160;19</b> of this Note.</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Section&#160;</b><b style="font-weight:bold;">2.</b>2.<b style="font-weight:bold;">&#160;&#160;</b><font style="font-style:italic;font-weight:bold;">Amendment and Restatement</font><i style="font-style:italic;">.</i>&#160;&#160;This Note renews, replaces, amends and restates in its entirety the Unsecured Revolving Demand Promissory Note dated December 31, 2020 in the original principal amount of $40,000,000.00 payable to the order of the Noteholder and executed by the Borrower (the &#8220;<i style="font-style:italic;">Prior Note</i>&#8221;). &#160;As of the close of business on December 31, 2021, the unpaid principal balance of the Prior Note was nil, the accrued and unpaid interest thereon was nil and the accrued and unpaid commitment fee thereon was nil, which is the unpaid principal, accrued and unpaid interest and accrued and unpaid commitment fee owed under this Note as of the close of business on the date of this Note. &#160;This Note contains the entire understanding between the Noteholder and the Borrower with respect to the transactions contemplated hereby and supersedes all other instruments, agreements and understandings between the Noteholder and the Borrower with respect to the subject matter of this Note<font style="font-size:12pt;">.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;text-indent:36pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">