SIXTH AMENDMENT
SIXTH AMENDMENT, dated as of November 15, 2010 (this “Amendment”), under the Second Amended and Restated Credit Agreement, dated as of March 16, 2007 (as amended and waived by the Amendment and Waiver dated as of July 23, 2007, the Second Amendment dated as of November 26, 2007, the Third Amendment dated as of December 23, 2008, the Fourth Amendment dated as of February 19, 2009 and the Fifth Amendment dated as of June 3, 2010 and as further amended, supplemented, or otherwise modified from time to time, the “Credit Agreement”), among TENNECO INC., a Delaware corporation (the “Borrower”), the several lenders from time to time parties thereto (the “Lenders”), JPMORGAN CHASE BANK, N.A., a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and the other financial institutions named therein as agents for the Lenders.
W I T N E S S E T H:
WHEREAS, the Borrower has requested an amendment under the Credit Agreement; and
WHEREAS, the Required Lenders and the Administrative Agent are willing to agree to such amendment of the Credit Agreement, subject to the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the Borrower, the Required Lenders and the Administrative Agent hereby agree as follows:
1. Defined Terms. Unless otherwise defined herein, capitalized terms which are defined in the Credit Agreement, as amended hereby, are used herein as therein defined.
2. Amendments to Definitions. (a) The definition of “Senior Unsecured Notes” is hereby amended by adding the following sentence at the end thereof: “Upon the issuance of any New Unsecured Indebtedness permitted by clause (ii) of Section 7.2(p), such New Unsecured Indebtedness shall be deemed to be Senior Unsecured Notes (in addition to any other Senior Unsecured Notes that are then outstanding).”
(b) The definition of “Senior Unsecured Note Indenture” is hereby amended by adding the following sentence at the end thereof: “Upon the issuance of any New Unsecured Indebtedness permitted by clause (ii) of Section 7.2(p), the indenture or similar agreement pursuant to which such New Unsecured Indebtedness is issued shall be deemed to be a Senior Unsecured Note Indenture (in addition to any other indenture or similar agreement for Senior Unsecured Notes then outstanding); provided, however, that the provisions of Section 7.9(c) shall not apply to such indenture or similar agreement pursuant to which such New Unsecured Indebtedness is issued.”
3. Amendments to Section 7.2 (Indebtedness). Section 7.2 of the Credit Agreement is hereby amended by deleting from paragraph (p) the phrase “and (ii)” and substituting therefor the following:
(ii) unsecured Indebtedness of the Borrower and guarantees thereof by Subsidiary Guarantors incurred only for the purpose of refinancing the Senior Subordinated Notes as permitted by the last paragraph of Section 7.9 as long as such unsecured Indebtedness and guarantees comply with the conditions set forth in clauses (c)(i), (iii), (iv) and (v) of the definition of “Permitted Refinancing Indebtedness” and (iii)
4. Amendment to Section 7.9 (Optional Payments and Modifications of Senior Subordinated Notes). Section 7.9 of the Credit Agreement is hereby amended by adding the following paragraph at the end thereof:
In addition, the Borrower may repay, prepay, repurchase, redeem or defease the Senior Subordinated Notes from the Net Cash Proceeds of New Unsecured Indebtedness permitted by clause (ii) of Section 7.2(p) as long as the Net Cash Proceeds of such New Unsecured Indebtedness do not exceed $500,000,000 except, that the Borrower may pay any related premiums with either such Net Cash Proceeds or with other funds.
5. Representations and Warranties. The Borrower hereby confirms that the representations and warranties set forth in Section 4 of the Credit Agreement, as amended by this Amendment, are true and correct in all material respects as if made as of the Sixth Amendment Effective Date (except such representations and warranties as are made as of a particular date, which such representations and warranties shall be true and correct in all material respects as if made as of such date). The Borrower represents and warrants that, after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.
6. Effectiveness. This Amendment shall become effective as of the date set forth above (the “Sixth Amendment Effective Date”) on the date on which the Administrative Agent shall have received this Amendment executed and delivered by the Administrative Agent, the Borrower and the Required Lenders (or, in the case of any Lender, a lender addendum or joinder agreement in a form specified by the Administrative Agent) and acknowledged by the Loan Parties.
7. Continuing Effect of the Credit Agreement. This Amendment shall not constitute an amendment or waiver of any provision of the Credit Agreement not expressly referred to herein and shall not be construed as a waiver or consent to any further or future action on the part of the Borrower that would require a waiver or consent of the Lenders and the Administrative Agent. Except as expressly amended hereby, the provisions of the Credit Agreement are and shall remain in full force and effect.
8. Counterparts. This Amendment may be executed by the parties hereto in any number of separate counterparts (including telecopied counterparts), each of which shall be
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deemed to be an original, and all of which taken together shall be deemed to constitute one and the same instrument.
9. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
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IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
TENNECO INC. | ||||
By: | /s/ John E. Kunz | |||
Name: | John E. Kunz | |||
Title: | V. P. Treasurer & Tax | |||
JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender | ||||
By: | ||||
Name: | ||||
Title: |
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
TENNECO INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender | ||||
By: | /s/ Richard W. Duker | |||
Name: | Richard W. Duker | |||
Title: | Managing Director |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 ___BALLANTYNE FUNDING LLC______ [LENDER] | ||||
By: | /s/ Stacy Lai | |||
Name: | Stacy Lai | |||
Title: | Assistant Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Bank of America, N.A. | ||||
By: | /s/ L. Dustin Vincent | |||
Name: | L. Dustin Vincent | |||
Title: | Senior Vice President | |||
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 THE BANK OF NEW YORK MELLON | ||||
By: | /s/ John T. Smathers | |||
Name: | John T. Smathers | |||
Title: | First Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 THE BANK OF NOVA SCOTIA [LENDER] | ||||
By: | /s/ J.F. Todd | |||
Name: | J.F. Todd | |||
Title: | Managing Director |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Blue Shield of California | ||||
By: | /s/ Guang Alex Yu | |||
Name: | Guang Alex Yu | |||
Title: | Authorized Signatory |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 BNP Paribas | ||||
By: | /s/ Mike Shryock | |||
Name: | Mike Shryock | |||
Title: | Managing Director |
By: | /s/ Michael Pearce | |||
Name: | Michael Pearce | |||
Title: | Director |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 CAPITAL ONE LEVERAGE FINANCE CORPORATION, as LENDER | ||||
By: | /s/ Ron Walker | |||
Name: | Ron Walker | |||
Title: | SVP |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Del Mar CLO I, Ltd. By Caywood-Scholl Capital Management, LLC As Collateral Manager | ||||
By: | /s/ Tom Saake | |||
Name: | Tom Saake | |||
Title: | Managing Director |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, date as of March 16, 2007 Citicorp North America, Inc. [LENDER) | ||||
By: | /s/ Leon Hen-Tov | |||
Name: | Leon Hen-Tov | |||
Title: | Vice President |
SIXTH AMENDMENT dated as of November 18, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement. dated as of March 16, 2007 COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES | ||||
By: | /s/ Patrick Hartweger | |||
Name: | Patrick Hartweger | |||
Title: | Senior Relationship Manager |
By: | /s/ Peter Wesemeier | |||
Name: | Peter Wesemeier | |||
Title: | Relationship Manager |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 DEUTSCHE BANK TRUST COMPANY AMERICAS | ||||
By: | /s/ Erin Morrissey | |||
Name: | Erin Morrissey | |||
Title: | Vice President |
By: | /s/ Enrique Landaeta | |||
Name: | Enrique Landaeta | |||
Title: | Vice President | |||
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Fidelity Advisor Series I: Fidelity Advisor Floating Rate High Income Fund | ||||
By: | /s/ Jeffrey Christian | |||
Name: | Jeffrey Christian | |||
Title: | Deputy Treasurer |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Fifth Third Bank [LENDER] | ||||
By: | /s/ Joseph A. Wemhoff | |||
Name: | Joseph A. Wemhoff | |||
Title: | Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Franklin CLO V, Limited | ||||
By: | /s/ Guang Alex Yu | |||
Name: | Guang Alex Yu, Franklin Advisers, Inc. as Collateral Manager | |||
Title: | Authorized Signatory |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Franklin CLO VI, Limited | ||||
By: | /s/ Guang Alex Yu | |||
Name: Guang Alex Yu, Franklin Advisers, Inc. as Collateral Manager | ||||
Title: | Authorized Signatory |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Franklin Floating Rate Daily Access Fund | ||||
By: | /s/ Richard Hsu | |||
Name: | Richard Hsu | |||
Title: | Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Franklin Floating Rate Master Series | ||||
By: | /s/ Richard Hsu | |||
Name: | Richard Hsu | |||
Title: | Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Franklin Templeton Limited Duration Income Trust | ||||
By: | /s/ Richard Hsu | |||
Name: | Richard Hsu | |||
Title: | Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 Franklin Templeton Series II Funds Franklin Floating Rate II Fund | ||||
By: | /s/ Richard Hsu | |||
Name: | Richard Hsu | |||
Title: | Vice President | |||
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 GENERAL ELECTRIC CAPITAL CORPORATION | ||||
By: | /s/ James M. Cunningham | |||
Name: | James M. Cunningham | |||
Title: | Duly Authorized Signatory |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 MORGAN STANLEY BANK, N.A. | ||||
By: | /s/ Scott Taylor | |||
Name: | Scott Taylor | |||
Title: | Authorized Signatory |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 PNC BANK, NATIONAL ASSOCIATION | ||||
By: | /s/ Marc C. Van Horn | |||
Name: | Marc C. Van Horn | |||
Title: | Assistant Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 | |||||
PUTNAM FLOATING RATE INCOME FUND | |||||
By: | |||||
Name: | See next page | ||||
Title: | |||||
PUTNAM FLOATING RATE INCOME FUND | ||||
By: | /s/ Beth Mazor | |||
Beth Mazor | ||||
Title: | V.P. |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 | ||||
RIDGEWORTH FUNDS — SEIX FLOATING RATE HIGH INCOME FUND | ||||
By: | Seix Investment Advisors LLC, as Sub-Adviser | |||
ROCHDALE FIXED INCOME OPPORTUNITIES PORTFOLIO | ||||
By: | Seix Investment Advisors LLC, as Sub-Adviser | |||
RIDGEWORTH FUNDS — TOTAL RETURN BOND FUND | ||||
By: | Seix Investment Advisors LLC, as Sub-Adviser | |||
RIDGEWORTH FUNDS — INTERMEDIATE BOND FUND | ||||
By: | Seix Investment Advisors LLC, as Sub-Adviser | |||
RIDGEWORTH FUNDS — INVESTMENT GRADE BOND FUND | ||||
By: | Seix Investment Advisors LLC, as Sub-Adviser | |||
By: | /s/ George Goudelias | |||
Name: | George Goudelias | |||
Title: | Managing Director |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 | ||||
The Royal Bank of Scotland plc | ||||
By: | /s/ James Welch | |||
Name: | James Welch | |||
Title: | Director |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 | ||||
U.S. BANK NATIONAL ASSOCIATION [LENDER] | ||||
By: | /s/ Corey Davis | |||
Name: | Corey Davis | |||
Title: | Vice President |
SIXTH AMENDMENT dated as of November 15, 2010 to the Tenneco Inc. Second Amended and Restated Credit Agreement, dated as of March 16, 2007 | ||||
WELLS FARGO CAPITAL FINANCE, LLC | ||||
By: | /s/ Eunnie Kim | |||
Name: | Eunnie Kim | |||
Title: | Vice President |
The undersigned Loan Parties acknowledge and agree to the Sixth Amendment and confirm that all of their obligations under the Loan Documents remain in full force and effect after giving effect thereto and the transactions contemplated thereby: | ||||
TENNECO INC. TENNECO AUTOMOTIVE OPERATING COMPANY INC. TENNECO INTERNATIONAL HOLDING CORP. TENNECO GLOBAL HOLDINGS INC. THE PULLMAN COMPANY TMC TEXAS INC. CLEVITE INDUSTRIES INC. | ||||
By: | /s/ John G. Kunz | |||
Title: V. P. Treasurer & Tax | ||||