FOURTH AMENDMENT TO CREDIT
AGREEMENT AND AMENDMENT TO
SECURITY AGREEMENT AND PLEDGE AGREEMENT
THIS FOURTH
AMENDMENT TO CREDIT AGREEMENT AND AMENDMENT TO SECURITY AGREEMENT
AND PLEDGE AGREEMENT (this “ Amendment ”),
dated as of June 29, 2009, is by and among BELDEN INC.
(formerly known as Belden CDT Inc.), a Delaware corporation (the
“ Borrower ”), those Material Domestic
Subsidiaries of the Borrower party hereto (each a “
Guarantor ” and collectively, the “
Guarantors ”), and WACHOVIA BANK, NATIONAL
ASSOCIATION , as administrative agent on behalf of the Lenders
(as hereinafter defined) under the Credit Agreement (as hereinafter
defined) (in such capacity, the “ Administrative Agent
”). Capitalized terms used herein and not otherwise defined
herein shall have the meanings ascribed thereto in the Credit
Agreement.
WHEREAS ,
the Borrower, the Guarantors, certain banks and financial
institutions from time to time party thereto (the “
Lenders ”) and the Administrative Agent are parties to
that certain Credit Agreement dated as of January 24, 2006 (as
amended, modified, extended, restated, replaced, or supplemented
from time to time, the “ Credit Agreement
”);
WHEREAS ,
the Credit Parties have requested the Lenders agree to amend
certain provisions of the Credit Agreement; and
WHEREAS ,
the Required Lenders are willing to make such amendments to the
Credit Agreement, subject to the terms and conditions set forth
herein.
NOW,
THEREFORE , in consideration of the agreements hereinafter set
forth, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties hereto
agree as follows:
ARTICLE I
AMENDMENTS TO CREDIT DOCUMENTS
1.1
Amendment to Credit Agreement . From and after the
Amendment Effective Date (as hereinafter defined), the Credit
Agreement is amended in its entirety to read in the form of such
Credit Agreement attached hereto as Exhibit A to this
Amendment.
1.2
Amendment to Pledge Agreement . From and after the
Amendment Effective Date, the Pledge Agreement is hereby amended by
adding the words “, to the extent feasible without incurring
adverse tax consequences,” in (a) Section 2(a)
after the words “‘ Pledged Capital Stock
’),” but before the words “including, but not
limited to” and (b) at the end of
Section 2(b)(ii).
1.3
Amendment to Security Agreement . From and after the
Amendment Effective Date, the Security Agreement is hereby amended
by (a) adding the words “(but only to the extent that
such Instruments may be pledged without incurring adverse tax
consequences)” to the end of Section 2(a)(xii) and
(b) amending and restating clause (xiv) in its entirety
to read as follows: “all Investment Property, but only to the
extent that such Investment Property may be pledged without
incurring adverse tax consequences and limited to 65% of each class
of the issued and outstanding Capital Stock entitled to vote
(within the meaning of Treas. Reg. Section 1.956-2(c)(2))
owned by such Obligor of each direct Foreign Subsidiary of such
Obligor;”.
1.4
Amendment to Schedules . From and after the Amendment
Effective Date, Schedule 2.1(b)(i) and Schedule 9.6(c) of the
Credit Agreement and Schedule 2(a) of the Pledge Agreement are
amended and restated in their entirety to read in the form of such
Schedules attached hereto as Exhibit B to this
Amendment.
1.5
Additional Schedule . From and after the Amendment
Effective Date, Schedule 3.19(c) is hereby added to the Schedules
to the Credit Agreement to read in the form of such Schedule
attached hereto as Exhibit C to this
Amendment.
2.1
Consent . Notwithstanding the provisions of the Credit
Agreement to the contrary, the Required Lenders hereby consent, on
a one-time basis, to (a) the conversion by Belden
Technologies, Inc. from a corporation into a limited liability
company and (b) Belden Technologies, Inc. changing its name to
Belden Technologies, LLC; provided that the Credit Parties
deliver copies of the corporate documents evidencing such
conversion and name change in form and substance satisfactory to
the Administrative Agent.
2.2
Effectiveness of Consent . This consent shall be
effective only to the extent specifically set forth herein and
shall not (a) be construed as a waiver of any breach or
default other than as specifically waived herein nor as a waiver of
any breach or default of which the Lenders have not been informed
by the Borrower, (b) affect the right of the Lenders to demand
compliance by the Borrower with all terms and conditions of the
Credit Agreement, except as specifically modified, consented to or
waived by this Amendment, (c) be deemed a waiver of any
transaction or future action on the part of the Borrower requiring
the Lenders’ or the Required Lenders’ consent or
approval under the Credit Agreement, or (d) except as
consented to hereby, be deemed or construed to be a waiver or
release of, or a limitation upon, the Administrative Agent’s
or the Lenders’ exercise of any rights or remedies under the
Credit Agreement or any other Credit Document, whether arising as a
consequence of any Event of Default which may now exist or
otherwise, all such rights and remedies hereby being expressly
reserved.
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ARTICLE III
REVOLVING COMMITTED AMOUNT
Pursuant to
Section 2.7(a) of the Credit Agreement, the Borrower hereby
elects to permanently reduce the Revolving Committed Amount to
TWO-HUNDRED FIFTY MILLION DOLLARS ($250,000,000) . The
Credit Parties and the Required Lenders hereby agree that, after
giving effect to this Amendment on the Amendment Effective Date
(a) the Revolving Committed Amount shall be reduced to
$250,000,000 and (b) the Revolving Commitments of each
Revolving Lender shall be reduced pro rata to accommodate such
reduction of the Revolving Committed Amount in accordance with
Section 2.12(a) of the Credit Agreement. With respect to the
voluntary commitment reduction made pursuant to this
Article II, the Required Lenders hereby waive the voluntary
commitment reduction notice required by Section 2.7(a).
ARTICLE IV
CONDITIONS TO EFFECTIVENESS
4.1 Closing
Conditions . This Amendment shall become effective (the
“ Amendment Effective Date ”) upon satisfaction
of the following conditions (in form and substance reasonably
acceptable to the Administrative Agent) on or prior to
July 31, 2009:
(a)
Executed Amendment . The Administrative Agent shall have
received a copy of this Amendment duly executed by each of the
Credit Parties and the Administrative Agent, on behalf of the
Required Lenders.
(b)
Executed Consents . The Administrative Agent shall have
received executed consents, in substantially the form of
Exhibit D attached hereto, from the Required Lenders
authorizing the Administrative Agent to enter into this Amendment
on their behalf. The delivery by the Administrative Agent of its
signature page to this Amendment shall constitute conclusive
evidence that the consents from the Required Lenders have been
obtained and that the Amendment Effective Date has
occurred.
(c)
Consent and Approvals . All consents and approvals of the
boards of directors, shareholders, governmental authorities and
other applicable material third parties necessary in connection
with this Amendment shall have been obtained.
(d)
Corporate and Capital Structure, etc . The Administrative
Agent shall be satisfied with the corporate and capital structure
and management of the Borrower and its Subsidiaries after giving
effect to this Amendment, with all legal, tax, accounting, business
and other matters relating to this Amendment or to the Borrower and
its Subsidiaries after giving effect to this Amendment, and with
the aggregate amount of fees and expenses payable in connection
with the consummation of this Amendment and the aggregate
outstanding amount of Indebtedness of the Borrower and its
Subsidiaries, and any liens in connection therewith or otherwise,
after giving effect to this Amendment.
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(e)
Material Adverse Change . Since December 31, 2008, no
material adverse change shall have occurred in the business,
operations, property, assets or financial condition of the Borrower
and its subsidiaries taken as a whole which could reasonably be
expected to have a Material Adverse Effect.
(f) No
Litigation . There shall not exist any pending litigation or
investigation affecting or relating to any Credit Party or any
of its Subsidiaries that in the reasonable judgment of the
Administrative Agent and Required Lenders could reasonably be
expected to have a Material Adverse Effect, that has not been
settled, dismissed, vacated, discharged or terminated prior to the
Amendment Effective Date.
(g)
Officer’s Certificate . The Administrative Agent shall
have received a certificate from the Borrower that (i) each of
the Borrower and the Guarantors is solvent and (ii) the
Borrower is in compliance with all financial covenants set forth in
Section 5.9 of the Credit Agreement on a pro forma basis after
giving effect to this Amendment.
(h) Legal
Opinion . The Administrative Agent shall have received an
opinion or opinions of counsel for the Credit Parties, dated the
Amendment Effective Date and addressed to the Administrative Agent
and the Lenders (which shall include, without limitation, opinions
with respect to the valid existence of each Credit Party and
opinions as to the non-contravention of the Credit Parties’
organizational documents and the Subordinated Note Documents and
the documents for all other publicly held or privately placed
Indebtedness incurred in accordance with Section
6.1(p)).
(i)
Organizational Documents . The Administrative Agent shall
have received:
(i) Articles of
Incorporation . A copy of the articles of incorporation of each
Credit Party certified by a secretary or assistant secretary of
such Credit Party (pursuant to a secretary’s certificate) as
of the Amendment Effective Date to be true and correct and in force
and effect as of such date or certification that there have been no
changes to the articles of incorporation delivered to the
Administrative Agent as of the Second Amendment Effective
Date.
(ii) Bylaws
. A copy of the bylaws of each Credit Party certified by a
secretary or assistant secretary of such Credit Party (pursuant to
a secretary’s certificate) as of the Amendment Effective Date
to be true and correct and in force and effect as of such date or
certification that there have been no changes to the bylaws
delivered to the Administrative Agent as of the Second Amendment
Effective Date.
(iii)
Resolutions . A copy of resolutions of the board of
directors of each Credit Party approving and adopting this
Amendment, the transactions contemplated herein and authorizing
execution and delivery thereof, certified by a secretary or
assistant secretary of such Credit Party (pursuant to a
secretary’s certificate) as of the Amendment Effective Date
to be true and correct and in force and effect as of such
date.
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(iv) Good
Standing . A copy of certificates of good standing, existence
or its equivalent with respect to each Credit Party certified as of
a recent date by the appropriate Governmental Authorities of the
state of its incorporation and a certification by a secretary or
assistant secretary of such Credit Party that such Credit Party is
in good standing in each other jurisdiction where its ownership,
lease or operation of property or the conduct of its business
requires such qualification, except to the extent that the failure
to so qualify and be in good standing could not reasonably be
expected to have a Material Adverse Effect.
(v)
Incumbency . An incumbency certificate of each Credit Party
certified by a secretary or assistant secretary (pursuant to a
secretary’s certificate) to be true and correct as of the
Amendment Effective Date.
(j)
Intercompany Notes . The Administrative Agent shall have
received all intercompany notes in the possession of any of the
Credit Parties and required to be pledged as Collateral pursuant to
Section 5.12, together with (i) applicable allonges or
assignments as may be necessary or appropriate to perfect the
Administrative Agent’s and the Lenders’ security
interest in such Collateral and (ii) such other documentation
reasonably requested by the Administrative Agent to evidence the
pledge of such Collateral.
(k)
Payment of Fees . The Administrative Agent shall have
received from the Borrower such fees and expenses that are payable
in connection with the consummation of the transactions
contemplated hereby (including, without limitation, all fees
payable pursuant to that certain Engagement Letter, dated as of
June 18, 2009, by and among Wachovia Bank, National
Association, Wachovia Capital Markets, LLC and the Borrower) and
Moore & Van Allen PLLC shall have received from the Borrower
payment of all reasonable invoiced outstanding fees and expenses
previously incurred and all reasonable invoiced fees and expenses
incurred in connection with this Amendment.
(l)
Subordinated Indebtedness . (i) The Administrative
Agent shall have received evidence that the Credit Parties shall
have issued at least $200,000,000 of Subordinated Indebtedness
permitted to be incurred pursuant to Section 6.1(k) of the
Credit Agreement (the “ Subordinated Indebtedness
Issuance ”) and (ii) the Borrower shall have paid
down the outstanding Loans, in accordance with
Section 2.8(b)(v) of the Credit Agreement, in an aggregate
amount equal to the Net Cash Proceeds received by the Credit
Parties from the Subordinated Indebtedness Issuance.
(m) Total
Leverage Ratio . The Credit Parties shall demonstrate to the
reasonable satisfaction of the Administrative Agent that, after
giving effect to the Subordinated Indebtedness Issuance and the
application of the proceeds thereof, on a Pro Forma Basis, the
Total Leverage Ratio, recalculated for the most recently ended
quarter for which information is available, shall be less than 3.25
to 1.0.
(n)
Default . No Default or Event of Default shall have occurred
or be continuing both before and after giving effect to the
Subordinated Indebtedness Issuance.
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(o) 2009
Senior Subordinated Note Documents . The Administrative Agent
shall have received a copy, certified by an officer of the Borrower
as true and complete, of each of the 2009 Senior Subordinated Note
Indenture and the 2009 Senior Subordinated Notes, as originally
executed and delivered, together with all exhibits and schedules
thereto.
(p)
Miscellaneous . All other documents and legal matters in
connection with the transactions contemplated by this Amendment
shall be reasonably satisfactory in form and substance to the
Administrative Agent and its counsel.
5.1 Amended
Terms . On and after the Amendment Effective Date, all
references to the Credit Agreement in each of the Credit Documents
shall hereafter mean the Credit Agreement as amended by this
Amendment. Except as specifically amended hereby or otherwise
agreed, the Credit Agreement is hereby ratified and confirmed and
shall remain in full force and effect according to its
terms.
5.2
Representations and Warranties of Credit Parties . Each
of the Credit Parties represents and warrants as
follows:
(a) It has taken
all necessary action to authorize the execution, delivery and
performance of this Amendment.
(b) This Amendment
has been duly executed and delivered by such Person and constitutes
such Person’s legal, valid and binding obligations,
enforceable in accordance with its terms, except as such
enforceability may be subject to (i) bankruptcy, insolvency,
reorganization, fraudulent conveyance or transfer, moratorium or
similar laws affecting creditors’ rights generally and
(ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding at law or in
equity).
(c) No consent,
approval, authorization or order of, or filing, registration or
qualification with, any court or governmental authority or third
party is required in connection with the execution, delivery or
performance by such Person of this Amendment.
(d) After giving
effect to this Amendment, the representations and warranties set
forth in Article III of the Credit Agreement are true and
correct in all material respects as of the date hereof (except for
those which expressly relate to an earlier date).
(e) After giving
effect to this Amendment, no event has occurred and is continuing
which constitutes a Default or an Event of Default.
(f) The Security
Documents continue to create a valid security interest in, and Lien
upon, the Collateral, in favor of the Administrative Agent, for the
benefit of the
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Lenders, which
security interests and Liens are perfected in accordance with the
terms of the Security Documents and prior to all Liens other than
Permitted Liens.
(g) Except as
specifically provided in this Amendment, the Credit Party
Obligations are not reduced or modified by this Amendment and are
not subject to any offsets, defenses or counterclaims.
5.3
Reaffirmation of Credit Party Obligations . Each Credit
Party hereby ratifies the Credit Agreement and acknowledges and
reaffirms (a) that it is bound by all terms of the Credit
Agreement applicable to it and (b) that it is responsible for
the observance and full performance of its respective Credit Party
Obligations.
5.4 Credit
Document . This Amendment shall constitute a Credit
Document under the terms of the Credit Agreement.
5.5 Further
Assurances . The Credit Parties agree to promptly take such
reasonable action, upon the request of the Administrative Agent, as
is necessary to carry out the intent of this Amendment.
5.6
Entirety . This Amendment and the other Credit Documents
embody the entire agreement among the parties hereto and supersede
all prior agreements and understandings, oral or written, if any,
relating to the subject matter hereof.
5.7
Counterparts; Telecopy . This Amendment may be executed
in any number of counterparts, each of which when so executed and
delivered shall be an original, but all of which shall constitute
one and the same instrument. Delivery of an executed counterpart to
this Amendment by telecopy or other electronic means shall be
effective as an original and shall constitute a representation that
an original will be delivered.
5.8
GOVERNING LAW . THIS AMENDMENT SHALL BE GOVERNED BY, AND
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW
YORK GENERAL OBLIGATIONS LAW).
5.9
Successors and Assigns . This Amendment shall be binding
upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns.
5.10
Consent to Jurisdiction; Service of Process; Waiver of Jury
Trial . The jurisdiction, services of process and waiver of
jury trial provisions set forth in Sections 9.14 and 9.17 of
the Credit Agreement are hereby incorporated by reference,
mutatis mutandis .
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BELDEN INC.
FOURTH AMENDMENT TO CREDIT AGREEMENT AND AMENDMENT TO SECURITY
AGREEMENT AND PLEDGE AGREEMENT
IN WITNESS WHEREOF
the Credit Parties and the Administrative Agent (on behalf of the
Required Lenders) have caused this Amendment to be duly executed on
the date first above written.
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BORROWER:
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BELDEN
INC. (formerly known as
Belden CDT Inc.),
a Delaware corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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GUARANTORS:
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BELDEN WIRE
& CABLE COMPANY ,
a Delaware corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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BELDEN CDT
NETWORKING, INC. ,
a Washington corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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NORDX/CDT
CORP. ,
a Delaware corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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BELDEN INC.
FOURTH AMENDMENT TO CREDIT AGREEMENT AND AMENDMENT TO SECURITY
AGREEMENT AND PLEDGE AGREEMENT
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THERMAX/CDT,
INC. ,
a Delaware corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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BELDEN
HOLDINGS, INC. ,
a Delaware corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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BELDEN
TECHNOLOGIES, LLC ,
a Delaware limited liability company
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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BELDEN 1993
INC. (formerly known as
Belden Inc.),
a Delaware corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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CDT
INTERNATIONAL HOLDINGS INC. ,
a Delaware corporation
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By:
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/s/ Stephen H.
Johnson
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Name:
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Stephen H.
Johnson
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Title:
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Treasurer
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BELDEN INC.
FOURTH AMENDMENT TO CREDIT AGREEMENT AND AMENDMENT TO SECURITY
AGREEMENT AND PLEDGE AGREEMENT
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ADMINISTRATIVE AGENT:
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WACHOVIA
BANK, NATIONAL ASSOCIATION,
as a Lender and as Administrative Agent on behalf of the
Required Lenders
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By:
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/s/ C. Jeffrey
Seaton
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Name: C.
Jeffrey Seaton
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Title: Managing
Director
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Schedule 2.1(b)(i)
To the Credit Agreement
[FORM OF]
NOTICE OF BORROWING
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Wachovia Bank,
National Association, as Administrative Agent
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Credit
Agreement, dated as of January 24, 2006, by and among Belden
Inc., a Delaware corporation (the “ Borrower ”),
the Material Domestic Subsidiaries of the Borrower from time to
time party thereto (collectively the “ Guarantors
”), the lenders from time to time party thereto (the “
Lenders ”) and Wachovia Bank, National Association, as
administrative agent for the Lenders (the “ Administrative
Agent ”), (as amended, modified, extended, restated,
replaced, or supplemented from time to time, the “ Credit
Agreement ”; capitalized terms used herein and not
otherwise defined shall have the meanings set forth in the Credit
Agreement)
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[Date]
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Pursuant to
Section [2.1(b)(i)] [2.4(b)(i)] of the Credit Agreement, the
Borrower hereby requests the following (the “ Proposed
Borrowing ”):
I. Revolving
Loans be made as follows:
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Interest
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Interest
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Period
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Rate
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(one, two, three or six
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Currency
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(Alternate Base Rate/
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months
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Date
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Amount
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(Dollars or Euros)
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LIBOR Rate)
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— for LIBOR Rate
only)
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NOTE:
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REVOLVING LOAN
BORROWINGS WHICH ARE ALTERNATE BASE RATE BORROWINGS MUST BE IN
MINIMUM AGGREGATE AMOUNTS OF $1,000,000 AND IN INTEGRAL MULTIPLES
OF $1,000,000 IN EXCESS THEREOF (OR THE REMAINING AMOUNT OF THE
COMMITTED REVOLVING AMOUNT, IF LESS). REVOLVING LOAN BORROWINGS
WHICH ARE LIBOR RATE BORROWINGS MUST BE IN MINIMUM AGGREGATE
AMOUNTS OF $5,000,000 AND IN INTEGRAL MULTIPLES OF $1,000,000 IN
EXCESS THEREOF (OR THE REMAINING AMOUNT OF THE COMMITTED REVOLVING
AMOUNT, IF LESS).
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II. Swingline
Loans to be made on [date] as follows:
Swingline Loans
requested:
(1) Total
Amount of Swingline Loans $
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NOTE:
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SWINGLINE LOAN
BORROWINGS MUST BE IN MINIMUM AMOUNTS OF $500,000 AND IN INTEGRAL
AMOUNTS OF $100,000 IN EXCESS THEREOF.
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Terms defined in
the Credit Agreement shall have the same meanings when used
herein.
The undersigned
hereby certifies that the following statements are true on the date
hereof and will be true on the date of the Proposed
Borrowing:
(A) the
representations and warranties made by the Credit Parties in the
Credit Agreement, in the Security Documents or which are contained
in any certificate furnished at any time under or in connection
therewith shall (i) with respect to representations and
warranties that contain a materiality qualification, be true and
correct and (ii) with respect to representations and
warranties that do not contain a materiality qualification, be true
and correct in all material respects, in each case on and as of the
date of such Extension of Credit as if made on and as of such date
(except for those which expressly relate to an earlier
date);
(B) no Default or
Event of Default shall have occurred and be continuing on such date
or after giving effect to the Extension of Credit to be made on
such date unless such Default or Event of Default shall have been
waived in accordance with the Credit Agreement;
(C) immediately
after giving effect to the making of any such Extension of Credit
(and the application of the proceeds thereof), (i) the sum of
the aggregate principal amount of outstanding Revolving Loans
plus outstanding Swingline Loans plus outstanding LOC
Obligations shall not exceed the Revolving Committed Amount then in
effect, (ii) the LOC Obligations shall not exceed the LOC
Committed Amount and (iii) the Swingline Loans shall not
exceed the Swingline Committed Amount;
(D) all conditions
set forth in such Sections 2.1 or 2.4 of the Credit Agreement,
as applicable, have been satisfied; and
(E) as
demonstrated on Exhibit A attached hereto, after giving
effect to such Extension of Credit on a Pro Forma Basis, the Credit
Parties are in compliance with Section 4.2(g) of the Credit
Agreement.
[REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK]
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Very truly
yours,
BELDEN INC.,
a Delaware corporation
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By:
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Name:
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Title:
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Exhibit A
to Notice of Borrowing
Total Leverage Ratio
Calculations
[TO BE COMPLETED BY
BORROWER]
Schedule 9.6(c)
To the Credit Agreement
[FORM OF]
COMMITMENT TRANSFER SUPPLEMENT
Reference is made
to the Credit Agreement, dated as of January 24, 2006 (as
amended, restated, supplemented or otherwise modified, the “
Credit Agreement ”), by and among Belden Inc., a
Delaware corporation (the “ Borrower ”), the
Material Domestic Subsidiaries of the Borrower from time to time
party thereto (collectively the “ Guarantors ”),
the lenders from time to time party thereto (the “
Lenders ”) and Wachovia Bank, National Association, as
administrative agent for the Lenders (the “ Administrative
Agent ”). Unless otherwise defined herein, terms defined
in the Credit Agreement and used herein shall have the meanings
provided in the Credit Agreement.
(the “ Transferor Lender ” ) and
(the “ Purchasing Lender ”) agree as
follows:
1. For an
agreed consideration, the Transferor Lender hereby irrevocably
sells and assigns to the Purchasing Lender, and the Purchasing
Lender hereby irrevocably purchases and assumes from the Transferor
Lender, as of the Transfer Funding Date (as defined below),
(a) all of the Transferor Lender’s rights and
obligations under the Credit Agreement with respect to those credit
facilities contained in the Credit Agreement as set forth on
Schedule 1 , and all instruments delivered pursuant
thereto to the extent related to the principal amount and
Commitment Percentage set forth on Schedule 1 attached
hereto of all of such outstanding rights and obligations of the
Transferor Lender under the respective facilities set forth on
Schedule 1 (including any letters of credit,
guarantees, and swingline loans included in such facilities) and
(b) to the extent permitted to be assigned under applicable
law, all claims, suits, causes of action and any other right of the
Transferor Lender (in its capacity as a Lender) against any Person,
whether known or unknown, arising under or in connection with the
Credit Agreement, any other documents or instruments delivered
pursuant thereto or the loan transactions governed thereby or in
any way based on or related to any of the foregoing, including, but
not limited to, contract claims, tort claims, malpractice claims,
statutory claims and all other claims at law or in equity related
to the rights and obligations sold and assigned pursuant to clause
(a) above (the rights and obligations sold and assigned
pursuant to clauses (a) and (b) above being referred to
herein collectively as, the “ Assigned Interest
”). Such sale and assignment is without recourse to the
Transferor Lender and, except as expressly provided in this
Commitment Transfer Supplement, without representation or warranty
by the Transferor Lender.
2. The
Transferor Lender (a) represents and warrants that (i) it
is the legal and beneficial owner of the Assigned Interest,
(ii) the Assigned Interest is free and clear of any lien,
encumbrance or other adverse claim and (iii) it has full power
and authority, and has taken all action necessary, to execute and
deliver this Commitment Transfer Supplement and to consummate the
transactions contemplated hereby; (b) assumes no
responsibility with respect to (i) any statements, warranties
or representations made in or in connection with the Credit
Agreement or any other Credit Document, (ii) the execution,
legality, validity, enforceability, genuineness, sufficiency or
value of the Credit Documents or any collateral thereunder,
(iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect
of any Credit Document or (iv) the performance or observance
by the Borrower, any of its Subsidiaries or Affiliates or any other
Person of any of their respective obligations under the Credit
Documents; and (c) in the case of an assignment of the entire
remaining amount of the Transferor Lender’s Commitments,
attaches any Note(s) held by it evidencing the Assigned Interest
and requests that the Administrative Agent exchange the attached
Note(s) for a new Note(s) payable to the Purchasing
Lender.
3. The
Purchasing Lender (a) represents and warrants that (i) it
has full power and authority, and has taken all action necessary,
to execute and deliver this Commitment Transfer Supplement and to
consummate the transactions contemplated hereby and to become a
Lender under the Credit Agreement, (ii) from and after the
Effective Date (as defined below), it shall be bound by the
provisions of the Credit Documents as a Lender thereunder and, to
the extent of the Assigned Interest, shall have the obligations of
a Lender thereunder and (iii) it has received a copy of the
Credit Agreement, together with copies of the financial statements
referred to in Section 3.1 thereof, the financial statements
delivered pursuant to Section 5.1 thereof, if any, and such
other documents and information as it has deemed appropriate to
make its own credit analysis and decision to enter into this
Commitment Transfer Supplement and to purchase the Assigned
Interest on the basis of which it has made such analysis and
decision independently and without reliance on the Administrative
Agent or any other Lender; (b) agrees that it will
(i) independently and without reliance upon the Transferor
Lender, the Administrative Agent or any other Lender and based on
such documents and information as it shall deem appropriate at the
time, continue to make its own credit decisions in taking or not
taking action under the Credit Agreement, the other Credit
Documents or any other
instrument or
document furnished pursuant hereto or thereto and (ii) perform
in accordance with its terms all the obligations which by the terms
of the Credit Documents are required to be performed by it as a
Lender including, if it is organized under the laws of a
jurisdiction outside the United States, its obligations pursuant to
Section 2.18 of the Credit Agreement; and (c) appoints
and authorizes the Administrative Agent to take such action as
agent on its behalf and to exercise such powers and discretion
under the Credit Agreement, the other Credit Documents or any other
instrument or document furnished pursuant hereto or thereto as are
delegated to the Administrative Agent by the terms thereof,
together with such powers as are incidental thereto.
4. The
effective date of this Commitment Transfer Supplement shall be
_________, ___ (the “ Effective Date ”).
Following the execution of this Commitment Transfer Supplement, it
will be delivered to the Administrative Agent for acceptance by it
and recording by the Administrative Agent pursuant to the Credit
Agreement, effective as of the Effective Date.
5. The
funding date for this Commitment Transfer Supplement shall be
_________, ___ (the “ Transfer Funding Date ”).
On the Transfer Funding Date, any registration and processing fee
shall be due and payable to the Administrative Agent pursuant to
Section 9.6 of the Credit Agreement.
6. Upon such
acceptance, recording and payment of applicable registration and
processing fees, from and after the Transfer Funding Date, the
Administrative Agent shall make all payments in respect of the
Assigned Interest (including payments of principal, interest, fees
and other amounts) to the Purchasing Lender whether such amounts
have accrued prior to the Transfer Funding Date or accrue
subsequent to the Transfer Funding Date. The Transferor Lender and
the Purchasing Lender shall make all appropriate adjustments in
payments by the Administrative Agent for periods prior to the
Transfer Funding Date or, with respect to the making of this
assignment, directly between themselves.
7. From and
after the Transfer Funding Date, (a) the Purchasing Lender
shall be a party to the Credit Agreement and, to the extent
provided in this Commitment Transfer Supplement, have the rights
and obligations of a Lender thereunder and under the other Credit
Documents and shall be bound by the provisions thereof and
(b) the Transferor Lender shall, to the extent provided in
this Commitment Transfer Supplement, relinquish its rights and be
released from its obligations under the Credit
Agreement.
8. This
Commitment Transfer Supplement shall be governed by, and construed
and enforced in accordance with, the laws of the State of New York
without regard to conflict of laws principles thereof (other than
Sections 5-1401 and 5-1402 of The New York General Obligations
Law).
IN WITNESS
WHEREOF, the parties hereto have caused this Commitment Transfer
Supplement to be executed as of the date first above written by
their respective duly authorized officers on Schedule 1
hereto.
[REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK]
SCHEDULE
1
TO COMMITMENT TRANSFER
SUPPLEMENT
Name of
Transferor Lender:
Name of
Purchasing Lender:
Transfer
Funding Date of Assignment:
Credit Facility
CUSIP Number: 07745EAB0
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Commitment Type
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Assigned (Extended
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Revolving
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Principal Amount of
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Commitment or
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Principal Amount of
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Non-Extending
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Non-Extending
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Extended Revolving
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Revolving
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Commitment
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Revolving
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Commitment
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Commitment
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Percentage
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Commitment)
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Assigned
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Assigned
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Assigned 1
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CUSIP Number
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$
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%
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07745EAB0
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[NAME OF
PURCHASING LENDER]
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[NAME OR
TRANSFEROR LENDER]
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By
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Name:
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Name:
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Title:
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Title:
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Accepted (if
required):
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Consented to
(if required):
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WACHOVIA BANK,
NATIONAL ASSOCIATION,
as the Administrative Agent, Swingline Lender and
Issuing Lender
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BELDEN
INC.,
a Delaware corporation,
as the Borrower
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By:
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Name:
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Name:
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Title:
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Title:
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1
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Calculate the
Commitment Percentage that is assigned to at least 9 decimal places
and show as a percentage of the aggregate commitments of all
Lenders.
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Schedule 2(a)
To the Pledge Agreement
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Name of
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Number of
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Certificate
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Percentage
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Pledgor
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Subsidiary
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Shares
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Number
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Ownership
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Belden 1993 Inc.
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100
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1
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100
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Belden CDT Networking,
Inc.
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1,000
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R1
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100
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Red Hawk/CDT, Inc.
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100
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2
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100
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Trapeze Networks, Inc.
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1,000
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CS-1
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100
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Belden Wire & Cable
Company
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9,000
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4
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100
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Belden Insurance Company
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100,000
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1
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100
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Belden Communications Holding,
Inc.
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100
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1
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100
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Hirschmann Automation and Control
Inc.
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1,000
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100
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Belden Wire & Cable Company
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Belden Holdings, Inc.
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100
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1
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61
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Belden Technologies LLC
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10,000
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1
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100
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Belden CDT International
Inc.
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100
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1
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100
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Belden Asia (Thailand) Co.
Ltd.
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100
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Belden Australia Pty Ltd.
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100
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Name of
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Number of
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Certificate
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Percentage
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Pledgor
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Subsidiary
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Shares
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Number
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Ownership
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Belden Wire & Cable Trading
(Shanghai) Co. Ltd.
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2,700,002
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100
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Belden Brasil Commercial
Ltda.
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200
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100
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Belden Electronics Argentina
S.A.
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12,000
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100
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Belden Electronics S.A. de
C.V.
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49
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98
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Belden de Sonora de C.V.
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49
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98
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Belden Technologies
S.r.l.
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99
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Belden CDT International Inc.
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Belden Singapore Private
Limited
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1
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100
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Belden de Sonora de C.V.
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1
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2
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Belden CDT Networking, Inc.
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CDT International Holdings
Inc.
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100
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2
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100
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CDT International Holdings Inc
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XMark/CDT, Inc.
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100
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16
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100
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Dearborn/CDT Corp.
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100
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2
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100
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Thermax/CDT, Inc.
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100
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100
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A.W. Industries Inc.
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13,500
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100
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Nordx/CDT Corp.
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100
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1
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100
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Nordx/CDT IP Corp.
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100
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100
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Tennecast/CDT Inc.
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100
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100
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Belden Asia (Hong Kong)
Limited
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100,000
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100
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Name of
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Number of
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Certificate
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Percentage
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Pledgor
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Subsidiary
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Shares
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Number
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Ownership
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Belden Holdings, Inc.
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64
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39
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Belden Global CV
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uncertificated
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12.87
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interest in a
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limited partnership
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Belden Global CV
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uncertificated
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87.13
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interest in a
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limited partnership
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Trapeze Networks Ltd.
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100
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Trapeze Networks K.K.
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100
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Trapeze Networks B.V.
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100
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With respect to
the following entities which are listed above:
A.W.
Industries
Belden Asia (Hong Kong) Limited
Belden Asia (Thailand) Co. Ltd.
Belden Australia Pty. Ltd.
Belden Brasil Commercial Ltda.
Belden Electronics Argentina S.A.
Belden Electronics S.A. de C.V.
Belden de Sonora de C.V.
Belden Singapore Private Limited
Belden Technologies S.r.l.
Belden Wire & Cable Trading (Shanghai) Co. Ltd.
Hirschmann Automation and Control Inc.
Nordx/CDT Corp.
Nordx/CDT IP Corp.
Tennecast/CDT Inc.
Trapeze Networks Ltd.
Trapeze Networks K.K.
Trapeze Networks B.V.
(collectively
the “Excluded Entities”), notwithstanding anything
stated in the Credit Agreement, the Pledge Agreement, the Security
Agreement or the other Credit Documents to the contrary, due to the
fact that the certificates representing the Capital Stock of the
Excluded Entities are not readily available (or such Capital Stock
is uncertificated) and the Excluded Entities that issued such
Capital Stock are dormant, being dissolved or of immaterial value,
the Credit Parties shall not be obligated to deliver to the
Administrative Agent or any Lender any certificates
representing
the Capital Stock or other equity interests of the Excluded
Entities, and the Capital Stock and other equity interests of the
Excluded Entities shall be considered excluded from the Perfection
Collateral.
Loan Facility
Agreement dated as of March 22, 2007 between Belden Holdings,
Inc. and Belden Global C.V., with an outstanding principal balance
as of the Fourth Amendment Effective Date of
$249,363,022.
This Lender
Consent is given pursuant to the Credit Agreement, dated as of
January 24, 2006 (as previously amended and modified, the
“ Credit Agreement ”; and as further amended by
the Amendment (as hereinafter defined), the “ Amended
Credit Agreement ”), by and among BELDEN INC.
(formerly known as Belden CDT Inc.), a Delaware corporation (the
“ Borrower ”), those Material Domestic
Subsidiaries of the Borrower party thereto (each a “
Guarantor ” and collectively, the “
Guarantors ”), the lenders and other financial
institutions from time to time party thereto (the “
Lenders ”) and WACHOVIA BANK, NATIONAL
ASSOCIATION , as administrative agent on behalf of the Lenders
(in such capacity, the “ Administrative Agent
”). Capitalized terms used herein shall have the meanings
ascribed thereto in the Credit Agreement unless otherwise defined
herein.
The undersigned
hereby approves the Fourth Amendment to Credit Agreement and
Amendment to Security Agreement and Pledge Agreement (the “
Amendment ”), to be dated on or about June 29,
2009, by and among the Borrower, the Guarantors party thereto and
the Administrative Agent and hereby authorizes the Administrative
Agent to execute and deliver the Amendment on its behalf and, by
its execution below, the undersigned agrees to be bound by the
terms and conditions of the Amendment and the Amended Credit
Agreement. Delivery of this Lender Consent by telecopy shall be
effective as an original.
A duly authorized
officer of the undersigned has executed this Lender Consent as of
______ ___, 2009.
o Pursuant to Section 2.2 of the Amended
Credit Agreement,
(Lender Name) elects to extend $
of its Revolving Commitment which shall constitute Extended
Revolving Commitments under the Amended Credit
Agreement.
BELDEN
INC. (formerly known as
Belden CDT Inc.), a Delaware corporation
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2
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Borrower’s consent is only required to the
extent such Lender has elected to extend its Revolving
Commitment.
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Published CUSIP
Number : 07745EAB0
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