SEC Contract Filing

Filing Date: 2016-07-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>6
<FILENAME>aks20160630exhibit106.htm
<DESCRIPTION>EXHIBIT 10.6
<TEXT>
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<div><a name="se98da4f22fd74c4ea9b9fec6eb1035ba"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 10.6</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;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%;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;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECURITY AGREEMENT SUPPLEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECURITY AGREEMENT SUPPLEMENT dated as of July 27, 2016, between MOUNTAIN STATE CARBON, LLC, a Delaware limited liability company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Grantor</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and U.S. BANK NATIONAL ASSOCIATION, as collateral agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Collateral Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, pursuant to a Security Agreement dated as of June 20, 2016 (as amended and/or supplemented from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Security Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) among the Company, the other Grantors party thereto and the Collateral Agent, the Grantor has secured the Secured Obligations by granting to the Collateral Agent for the benefit of the Secured Parties a continuing security interest in certain personal property of the Grantor; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Grantor desires to become a party to the Security Agreement as a &#8220;Grantor&#8221; thereunder; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, terms defined in the Security Agreement (or whose definitions are incorporated by reference in Section 1 of the Security Agreement) and not otherwise defined herein have, as used herein, the respective meanings provided for therein; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:61px;"><font style="text-align:justify;font-family:inherit;font-size:12pt;padding-right:34px;">1.</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Grant of Transaction Liens</font><font style="font-family:inherit;font-size:12pt;">. (a) In order to secure the Secured Obligations, the Grantor grants to the Collateral Agent for the benefit of the Secured Parties a continuing security interest in and to all of the Grantor&#8217;s right, title and interest in and to all of the following, whether now owned or hereafter acquired by the Grantor, wherever located and whether now or hereafter existing or arising (hereinafter collectively referred to as the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Collateral</font><font style="font-family:inherit;font-size:12pt;">&#8221;):</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:168px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)&#160;&#160;&#160;&#160;all Equipment; </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:100px;text-indent:66px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)&#160;&#160;&#160;&#160;the Grantor&#8217;s interest in (x) the Collateral Proceeds Account; (y) all cash monies, investment property, instruments and financial assets held in the Collateral Proceeds Account; and (z) all Cash Proceeds, whether or not held in the Collateral Proceeds Account; and</font></div><div style="line-height:120%;text-align:justify;padding-left:100px;text-indent:66px;font-size:12