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SOLUTIA, INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
Solely for purposes of Section 8 of this Amendment: [GUARANTORS] | ||||
By: | ||||
Name: | ||||
Title: | ||||
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent and a Lender | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: | ||||
(Name of Institution) | ||||
By: | ||||
Name: | ||||
Title: | ||||
[ By: | ||||
Name: | ||||
Title:]1 | ||||
1 | If a second signature line is required. |
as Borrower,
as Administrative Agent, Collateral Agent, Swing Line Lender and Issuer,
HSBC SECURITIES (USA) INC.,
and
JPMORGAN CHASE BANK, N.A.
as Co-Syndication Agents,
as Documentation Agent
JEFFERIES FINANCE LLC,
HSBC SECURITIES (USA) INC.,
CITIGROUP GLOBAL MARKETS INC.
and
J.P. MORGAN SECURITIES
as Joint Lead Arrangers and as Joint Bookrunners
As Sole Lead Arranger and Bookrunner for Amendment No. 1
Page | ||||
ARTICLE I | ||||
DEFINITIONS | ||||
SECTION 1.01. Defined Terms | 1 | |||
SECTION 1.02. Types of Loans and Borrowings | 45 | |||
SECTION 1.03. Terms Generally; Currency Translation; Accounting Terms; GAAP | ||||
SECTION 1.04. Resolution of Drafting Ambiguities | ||||
SECTION 1.05. Letter of Credit Amounts | ||||
ARTICLE II | ||||
THE CREDITS | ||||
SECTION 2.01. The Loans | ||||
SECTION 2.02. Borrowings, Conversions and Continuations of Loans | ||||
SECTION 2.03. Letters of Credit | ||||
SECTION 2.04. Swing Line Loans | ||||
SECTION 2.05. Prepayments and Repurchase of Loans | ||||
SECTION 2.06. Repayment of Loans; Evidence of Debt | ||||
SECTION 2.07. Interest Rates and Payment Dates; Default Interest | ||||
SECTION 2.08. Computation of Interest and Fees | ||||
SECTION 2.09. Fees | ||||
SECTION 2.10. Termination or Reduction of Commitments | ||||
SECTION 2.11. Inability to Determine Interest Rate; Unavailability of Deposits; Inadequacy of Interest Rate | ||||
SECTION 2.12. Payments Generally; Administrative Agent’s Clawback | ||||
SECTION 2.13. Illegality | ||||
SECTION 2.14. Increased Costs; Reserves on Eurodollar Loans | ||||
SECTION 2.15. Taxes | ||||
SECTION 2.16. Compensation for Lender Losses | ||||
SECTION 2.17. Change of Lending Office | ||||
SECTION 2.18. Sharing of Payments by Lenders | ||||
SECTION 2.19. Replacement of Lenders Under Certain Circumstances | ||||
SECTION 2.20. Notice of Certain Costs | ||||
SECTION 2.21. Increase in Commitments | ||||
ARTICLE III | ||||
REPRESENTATIONS AND WARRANTIES | ||||
SECTION 3.01. Organization, etc. | ||||
SECTION 3.02. Due Authorization, Non-Contravention, etc. | ||||
SECTION 3.03. Government Approval, Regulation, etc. | ||||
SECTION 3.04. Validity, etc. | ||||
SECTION 3.05. Financial Information | ||||
SECTION 3.06. No Material Adverse Effect |
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SECTION 3.07. Litigation | ||||
SECTION 3.08. Compliance with Laws and Agreements | ||||
SECTION 3.09. Ownership of Subsidiaries | ||||
SECTION 3.10. Ownership of Properties | ||||
SECTION 3.11. Intellectual Property | ||||
SECTION 3.12. Taxes | ||||
SECTION 3.13. Pension and Welfare Plans | ||||
SECTION 3.14. Environmental | ||||
SECTION 3.15. Federal Reserve Regulations | ||||
SECTION 3.16. Disclosure; Accuracy of Information; Pro Forma Balance Sheets and Projected Financial Statements | ||||
SECTION 3.17. Insurance | ||||
SECTION 3.18. Labor Matters | ||||
SECTION 3.19. Solvency | ||||
SECTION 3.20. Security Documents | ||||
SECTION 3.21. Anti-Terrorism Laws | ||||
SECTION 3.22. Status as Senior Debt | ||||
ARTICLE IV | ||||
CONDITIONS | ||||
SECTION 4.01. Effective Date | ||||
SECTION 4.02. Conditions to All Credit Extensions | ||||
ARTICLE V | ||||
AFFIRMATIVE COVENANTS | ||||
SECTION 5.01. Financial Information, Reports, Notices, etc. | ||||
SECTION 5.02. Compliance with Laws, etc. | ||||
SECTION 5.03. Maintenance of Properties | ||||
SECTION 5.04. Insurance | ||||
SECTION 5.05. Books and Records; Visitation Rights; Lender Meetings | ||||
SECTION 5.06. Environmental Covenant | ||||
SECTION 5.07. Information Regarding Collateral | ||||
SECTION 5.08. Existence; Conduct of Business | ||||
SECTION 5.09. Performance of Obligations | ||||
SECTION 5.10. Casualty and Condemnation | ||||
SECTION 5.11. Pledge of Additional Collateral | ||||
SECTION 5.12. Further Assurances | ||||
SECTION 5.13. Use of Proceeds | ||||
SECTION 5.14. Payment of Taxes and Claims | ||||
SECTION 5.15. Additional Guarantors | ||||
SECTION 5.16. Post-Closing Covenants | ||||
SECTION 5.17. Designation of Subsidiaries |
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ARTICLE VI | ||||
NEGATIVE COVENANTS | ||||
SECTION 6.01. Indebtedness | ||||
SECTION 6.02. Liens | ||||
SECTION 6.03. Fundamental Changes; Line of Business | ||||
SECTION 6.04. Investments, Loans, Advances, Guarantees and Acquisitions | ||||
SECTION 6.05. Asset Sales | ||||
SECTION 6.06. Sale and Leaseback Transactions | ||||
SECTION 6.07. Restricted Payments | ||||
SECTION 6.08. Transactions with Affiliates | ||||
SECTION 6.09. Restrictive Agreements | ||||
SECTION 6.10. Amendments or Waivers of Certain Documents; Prepayments of Certain Indebtedness | ||||
SECTION 6.11. Accounting Treatment; Fiscal Year | ||||
SECTION 6.12. | ||||
SECTION | ||||
SECTION | ||||
ARTICLE VII | ||||
EVENTS OF DEFAULT AND REMEDIES | ||||
SECTION 7.01. Listing of Events of Default | ||||
SECTION 7.02. Action if Bankruptcy | ||||
SECTION 7.03. Action if Other Event of Default | ||||
SECTION 7.04. Application of Funds upon Event of Default | ||||
ARTICLE VIII | ||||
THE AGENTS | ||||
SECTION 8.01. Appointment and Authority | ||||
SECTION 8.02. Agents Individually | ||||
SECTION 8.03. Duties of Agents; Exculpatory Provisions | ||||
SECTION 8.04. Reliance by Agents | ||||
SECTION 8.05. Delegation of Duties | ||||
SECTION 8.06. Resignation of Agents | ||||
SECTION 8.07. Non-Reliance on Agents and Other Lenders | ||||
SECTION 8.08. No Other Duties, etc. | ||||
SECTION 8.09. Security Trust Deed | ||||
SECTION 8.10. Administrative Agent May File Proofs of Claim | ||||
SECTION 8.11. Collateral and Guarantee Matters | ||||
SECTION 8.12. Withholding Taxes |
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Page | ||||
ARTICLE IX | ||||
MISCELLANEOUS | ||||
SECTION 9.01. Notices | ||||
SECTION 9.02. Survival of Agreement | ||||
SECTION 9.03. Binding Effect | ||||
SECTION 9.04. Successors and Assigns | ||||
SECTION 9.05. Expenses; Indemnity | ||||
SECTION 9.06. Right of Setoff | ||||
SECTION 9.07. Applicable Law | ||||
SECTION 9.08. Waivers; Amendment | ||||
SECTION 9.09. Interest Rate Limitation | ||||
SECTION 9.10. Entire Agreement | ||||
SECTION 9.11. WAIVER OF JURY TRIAL | ||||
SECTION 9.12. Severability | ||||
SECTION 9.13. Counterparts | ||||
SECTION 9.14. Headings | ||||
SECTION 9.15. Jurisdiction; Consent to Service of Process | ||||
SECTION 9.16. Confidentiality | ||||
SECTION 9.17. Posting of Approved Electronic Communications | ||||
SECTION 9.18. Treatment of Information | ||||
SECTION 9.19. USA PATRIOT Act Notice | ||||
SECTION 9.20. Intercreditor Agreement | ||||
SECTION 9.21. No Fiduciary Duty | ||||
SECTION 9.22. Payments Set Aside |
EXHIBIT A | Form of Administrative Questionnaire | |
EXHIBIT B-1 | Form of Borrowing Notice | |
EXHIBIT B-2 | Form of Swing Line Loan Notice | |
EXHIBIT C | Form of Assignment and Assumption | |
EXHIBIT D | Form of Compliance Certificate | |
EXHIBIT E | Form of Indemnity, Subrogation and Contribution Agreement | |
EXHIBIT F-1 | Form of Term Note | |
EXHIBIT F-2 | Form of Revolving Credit Note | |
EXHIBIT F-3 | Form of Swing Line Note | |
EXHIBIT G | Form of Closing Certificate | |
EXHIBIT H | Form of Guarantee Agreement | |
EXHIBIT I | Form of Pledge Agreement | |
EXHIBIT J | Form of Security Agreement | |
EXHIBIT K | Form of United States Tax Compliance Certificate | |
EXHIBIT L | Form of Solvency Certificate | |
EXHIBIT M | Form of Lender Participation Notice | |
EXHIBIT N | Form of Letter of Credit Request | |
SCHEDULE 1.01(a) | Immaterial Restricted Subsidiaries | |
SCHEDULE 1.01(b) | Specified Asset Sales | |
SCHEDULE 1.01(d) | Existing Joint Ventures | |
SCHEDULE 1.01(e) | Existing L/Cs | |
SCHEDULE 1.01(f) | Specified Businesses |
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SCHEDULE 2.01 | Lenders and Commitments | |
SCHEDULE 3.05 | Financial Information | |
SCHEDULE 3.09(a) | Subsidiaries | |
SCHEDULE 3.09(b) | Securities | |
SCHEDULE 3.10(b) | Leased and Owned Real Property | |
SCHEDULE 3.14 | Environmental | |
SCHEDULE 3.17 | Insurance | |
SCHEDULE 4.01(f)(i) | Local and Foreign Counsel Jurisdictions (Pledged Equity Interests) | |
SCHEDULE 5.16(a) | Post-Closing Covenants | |
SCHEDULE 5.16(b) | Mortgaged Properties | |
SCHEDULE 6.01(ii) | Existing Indebtedness | |
SCHEDULE 6.02(iv)(A) | Existing Liens | |
SCHEDULE 6.04 | Existing Investments | |
SCHEDULE 6.08 | Transactions with Affiliates | |
SCHEDULE 6.09 | Existing Restrictions |
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Total Net | Term-1 Loans | Term-1 Loans | ||||||||||||||
Pricing | Leverage | that are | that are Base | |||||||||||||
Level | Ratio | Eurodollar Loans | Rate Loans | |||||||||||||
1 | >2.00:1 | 2.75% | 1.75% | |||||||||||||
2 | <2.00:1 | 2.50% | 1.50% |
Revolving | ||||||||||||||||||||||
Credit | Revolving | |||||||||||||||||||||
Total | Loans that | Credit | ||||||||||||||||||||
Net | are | Loans that | ||||||||||||||||||||
Leverage | Eurodollar | are Base | ||||||||||||||||||||
Pricing Level | Ratio | Loans | Rate Loans | |||||||||||||||||||
1 | >2.50:1 | 3.50 | % | 2.50 | % | |||||||||||||||||
2 | <2.50:1 | 3.25 | % | 2.25 | % |
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excluding any loss of anticipated profits and including any actual loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained.
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(i) | if to the Borrower or any other Loan Party, |
Solutia Inc. 575 Maryville Centre Drive P.O. Box 66760 St. Louis, Missouri 63166-6760 (courier delivers to: 575 Maryville Centre Drive, St. Louis, Missouri 63141) Attention of: James Tichenor and Paul Berra Telecopier No.: 314-674-6755 E-Mail Address:jatich@solutia.com andpjberr@solutia.com Website Address:www.solutia.com |
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With a copy to: | |||
Kirkland & Ellis LLP 601 Lexington Avenue New York, New York 10022 Attention of: Ashley Gregory, Esq. Telecopier No.: 212-446-4900 E-Mail Address:ashley.gregory@kirkland.com |
(ii) | if to the Administrative Agent, the Collateral Agent or the Swing Line Lender: |
Deutsche Bank Trust Company Americas Attn: Erin Morrissey, Leveraged Loan Portfolio 60 Wall Street New York, New York 10005 | |||
With a copy to: | |||
Deutsche Bank Trust Company Americas Attn: Nino Recko, 5022 Gate Parkway, Suite 200 Jacksonville, Florida 32256 |
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SOLUTIA INC., as Borrower | ||||
By: | ||||
Name: | ||||
Title: |
S-1
DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent, Collateral Agent, Swing Line Lender and as a Lender | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: |
S-2
CITIBANK, N.A, as a Lender and an Issuer | ||||
By: | ||||
Name: | ||||
Title: |
S-3
[ ], as a Lender | ||||
By: | ||||
Name: | ||||
Title: | ||||
S-4