Amendment to Section 7.5. Section 7.5 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Amendment to Section 7.5. Section 7.5 of the Existing Agreement is hereby amended by deleting all occurrences of the phrase: “Attention: Xxxx Xxxxxx”.
Amendment to Section 7.5. Section 7.5 of the Agreement is hereby amended by inserting the following at the end of such Section 7.5:
Amendment to Section 7.5. Section 7.5 of the Agreement shall be amended and restated in its entirety to read as follows: “Parent shall have closed on the Equity Offering with gross proceeds of not less than Seventy Million Dollars ($70,000,000.00) raised.”
Amendment to Section 7.5. Section 7.5 is hereby amended to replace “Pool Violation” with “Material Adverse Effect” wherever it appears therein.
Amendment to Section 7.5. Section 7.5 of the Agreement is hereby amended by adding at the end thereof the following sentence: “Notwithstanding the foregoing, or any other provision of this Agreement to the contrary, with respect to periods after December 31,2003, the provisions of this Section 7.5 shall be of no further force or effect.”
Amendment to Section 7.5. Section 7.5 of the Credit Agreement shall be amended by adding the following sentence at the end of such section: Notwithstanding anything to the contrary contained in this Credit Agreement (including, without limitation, any exceptions set forth in Section 7.3 or this Section 7.5), no Restricted Junior Payments, Investments, distributions, or any other payments shall be made by the Borrowers or any of their Subsidiaries to Ferroglobe at any time following the Second Amendment Effective Date.
Amendment to Section 7.5. Section 7.5 of the Credit Agreement is hereby amended and restated in its entirety as follows: “CROSS DEFAULT. If any Company or any Obligor shall default (a) in the payment of principal, interest or fees due and owing with respect to any Material Indebtedness Agreement beyond any period of grace provided with respect thereto, (b) in the performance or observance of any other agreement, term or condition contained in any Material Indebtedness Agreement, if the effect of such default is to allow the acceleration of the maturity of such Indebtedness or to permit the holder thereof to cause such Indebtedness to become due prior to its stated maturity, or (c) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Indebtedness to convert such Indebtedness into equity interests), (x) the Borrower or any Subsidiary has become obligated to purchase or repay Indebtedness before its regular maturity or before its regularly scheduled dates of payment with respect to any Material Indebtedness Agreement, or (y) one or more Persons have the right to require the Borrower or any Subsidiary so to purchase or repay such Indebtedness.”
Amendment to Section 7.5. Section 7.5 of the Credit Agreement is hereby amended to add the following new phrase immediately after the phrase “Loan Document”: “, in the Second Lien Loan Documents”.
Amendment to Section 7.5. Section 7.5 of the Credit Agreement is hereby amended by replacing clause (m) thereof in its entirety with the following:
(i) the Borrower and its Subsidiaries may sell and grant Liens in receivables and related assets (including proceeds thereof) arising from goods and services provided to Honeywell International, Inc. and its affiliates, pursuant to factoring arrangements entered into in the ordinary course of business and (ii) the Borrower and its Subsidiaries may sell receivables pursuant to receivables sales programs arranged by the account debtors in respect of such receivables, provided, that (x) the aggregate amount of receivables sold pursuant to this clause (ii) in any fiscal quarter of the Borrower shall not to exceed 10% of the aggregate amount of receivables of the Loan Parties generated during the immediately preceding four fiscal quarters and (y) the annual percentage discount on the face amount of receivables sold in any such sale pursuant to this clause (ii) shall not exceed a percentage equal to the Eurodollar Rate for a three month Interest Period commencing on the date of such sale plus the Applicable Margin then applicable to Eurodollar Loans under the Revolving Credit Facility.
