SEC Contract Filing

Filing Date: 2017-04-17

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>a20170417-exhibit103xinter.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s584a483879a04519ace847f2b901e265"></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:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.3</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;">ABL-NOTES INTERCREDITOR AGREEMENT</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;">This </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ABL-NOTES INTERCREDITOR AGREEMENT </font><font style="font-family:inherit;font-size:12pt;">(as amended, restated, renewed, extended, supplemented or otherwise modified from time to time in accordance with the terms hereof, this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), is dated as of April 17, 2017, and entered into by and among Unisys Corporation, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), certain subsidiaries of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Guarantors</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Wells Fargo Bank, National Association, in its capacity as agent for the ABL Lenders (including its successors and assigns from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ABL Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and Wells Fargo Bank, National Association, in its capacity as collateral trustee (including its successors and assigns from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Collateral Trustee</font><font style="font-family:inherit;font-size:12pt;">&#8221;) for (i) the First Lien Trustee and the First Lien Noteholders and (ii) any future Priority Lien Representative or Priority Lien Claimholders. As described in more detail in Section&#160;8.10 hereof, this Agreement is intended to be binding on all Claimholders and Priority Lien Representatives, as well as the ABL Agent and the Collateral Trustee. Capitalized terms used in this Agreement have the meanings assigned to them in Article I below.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">RECITALS</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;">The Company, the Guarantors, certain lenders (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ABL Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and agents party thereto, and the ABL Agent, have entered into a Credit Agreement, dated as of June 23, 2011, providing for a revolving credit facility (including swing-line and letter-of-credit sub-facilities) (as amended, restated, supplemented, modified, replaced or refinanced from time to time in accordance with the terms hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ABL Agreement</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;">The Company, the Guarantors and Wells Fargo Bank, National Association, as first lien trustee (in such capacity and including its successors and assigns from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">First Lien Trustee</font><font style="font-family:inherit;font-size:12pt;">&#8221;) are entering into the Indenture, dated as of the date hereof (as amended, supplemented or otherwise modified from time to time in accordance with the terms hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">First Lien Indenture</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;">The Company may, subject to the terms of the ABL Agreement, from time to time enter into other Series of Priority Lien Debt pursuant to the terms of the Collateral Trust Agreement;</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;">The obligations of the Company and the Guarantors to (i) the ABL Agent and the ABL Claimholders and (ii) the Priority Lien Representatives and the Priority Lien Claimholders are each secured by Liens on certain of the assets of the Company and the Guarantors; and as required under the ABL Agreement, each of the ABL Agent, the Collateral Trustee, the Priority Lien Representatives and the