JOINDER AGREEMENT
Exhibit 10.1.10
JOINDER
AGREEMENT, dated as of January 2, 2009 (this “Agreement”), by and among Barclays Bank PLC
(a “New Loan Lender”), XxXxxxxx Red Man Corporation (f/k/a XxXxxxxx Corporation), a West Virginia
corporation (the “Borrower”), and The CIT
Group/Business Credit, Inc. (“CIT”), as Administrative
Agent.
RECITALS:
WHEREAS, reference is hereby made to the Revolving Loan Credit Agreement, dated as of
October 31, 2007 (as amended, restated, supplemented or otherwise modified, refinanced or replaced
from time to time, the “Credit Agreement”), among the Borrower, the Lenders party thereto, CIT, as
Administrative Agent, and CIT and Bank of America, N.A., collectively, as Collateral Agent
(capitalized terms used but not defined herein having the meaning provided in the Credit
Agreement); and
WHEREAS, subject to the terms and conditions of the Credit Agreement, the Borrower may
establish New Revolving Credit Commitments by, among other things, entering into one or more
Joinder Agreements with New Revolving Loan Lenders, as applicable.
NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants
herein contained, the parties hereto agree as follows:
SECTION 1. The New Loan Lender party hereto hereby agrees to commit to provide its
respective New Revolving Credit Commitment, as set forth on Schedule A annexed hereto, on the terms
and subject to the conditions set forth below:
SECTION 2. The New Loan Lender (a) confirms that it has received a copy of the Credit
Agreement and the other Credit Documents, together with copies of the financial statements referred
to therein and such other documents and information as it has deemed appropriate to make its own
credit analysis and decision to enter into this Agreement; (b) agrees that it will, independently
and without reliance upon the Administrative Agent or any other New Loan Lender or any other Lender
or Agent 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; (c) appoints and authorizes the Administrative Agent to take such action as agent on its
behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are
delegated to the Administrative Agent by the terms thereof, together with such powers as are
reasonably incidental thereto; and (d) agrees that it will perform in accordance with their terms
all of the obligations which by the terms of the Credit Agreement are required to be performed by
it as a New Revolving Loan Lender.
SECTION 3. The New Loan Lender hereby agrees to make its respective Commitment on the
following terms and conditions:
a. Credit Agreement Governs. Except as set forth in this Agreement, the New
Revolving Loans shall otherwise be subject to the provisions of the Credit Agreement and the other
Credit Documents.
b. Borrower Certifications. By its execution of this Agreement, the undersigned
officer, to the best of his or her knowledge, and Borrower hereby certifies that (i) the
representations and warranties contained in the Credit Agreement and the other Credit
Documents are true and correct in all material respects on and as of the date hereof to the
same extent as though made on and as of the date hereof, except to the extent such representations
and warranties expressly relate to an earlier date, in which case such representations and
warranties
were true and correct in all material respects on and as of such earlier date; (ii) no Default
or Event of Default exists on the date hereof (both before and after giving to the New Revolving
Credit Commitment contemplated by this Agreement); and (iii) Borrower has performed in all
material respects all agreements and satisfied all conditions which the Credit Agreement
(including, without limitation, Section 2.14(a)(y) thereof) provides shall be performed or
satisfied by it on or before the date hereof.
c. Borrower Covenants. By its execution of this Agreement, Borrower hereby
covenants that: (i) it shall make any payments required pursuant to Section 2.11 of the Credit
Agreement in connection with the New Revolving Credit Commitments; and (ii) it shall deliver
or cause to be delivered the following legal opinions and documents: executed legal opinions
of Xxxxxxx Xxxxxxx & Xxxxxxxx, special counsel to the Borrower, and Xxxxxx Rice XxXxxxx Xxxxx
& Love LLP, special counsel to the Borrower, a certificate executed by a Financial Officer of
the Borrower attaching calculations evidencing compliance with Section 2.14(a)(y) of the Credit
Agreement and all other documents reasonably requested by the Administrative Agent in
connection with this Agreement.
d. Notice. For purposes of the Credit Agreement, the initial notice address of the
New Loan Lender shall be as set forth below its signature below.
e. Tax Forms. For the New Loan Lender, delivered herewith to the
Administrative Agent are such forms, certificates or other evidence with respect to United States
federal income tax withholding matters as the New Loan Lender may be required to deliver to the
Administrative Agent pursuant to Section 5.4(d) and/or Section 5.4(e) of the Credit
Agreement.
f. Recordation of the New Loans. Upon execution and delivery hereof, the
Administrative Agent will record the New Revolving Loans, made by the New Loan Lender in the
Register.
g. Amendment, Modification and Waiver. This Agreement may not be amended, modified
or waived except by an instrument or instruments in writing signed and delivered on behalf of each
of the parties hereto.
h. Entire Agreement. This Agreement, the Credit Agreement and the other Credit
Documents constitute the entire agreement among the parties with respect to the subject matter
hereof and thereof and supersede all other prior agreements and understandings, both written and
verbal, among the parties or any of them with respect to the subject matter hereof.
i. GOVERNING
LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, AND
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
j. Severability. Any term or provision of this Agreement which is invalid or unenforceable
in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity
or unenforceability without rendering invalid or unenforceable the remaining terms and provisions
of this Agreement or affecting the validity or enforceability of any of the terms or provisions of
this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be
unenforceable, such provision shall be interpreted to be only so broad as would be enforceable.
k. Counterparts. This Agreement may be executed in counterparts, each of which shall be
deemed to be an original, but all of which shall constitute one and the same
agreement.
[Remainder of page intentionally left blank].
IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute
and deliver this Joinder Agreement as of the date first above written.
XXXXXXXX RED MAN CORPORATION (f/k/a XxXxxxxx Corporation) |
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By: | /s/ Xxxxx X. Xxxxxxxxx | |||
Name: | Xxxxx X. Xxxxxxxxx | |||
Title: | Executive Vice President and Chief Financial Officer |
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XXXXXXXX RED MAN CORPORATION
Joinder Agreement
Joinder Agreement
BARCLAYS BANK PLC | ||||||||||
By: | /s/ Xxxxxxx Xxxxxxxxx | |||||||||
Name: | XXXXXXX XXXXXXXXX | |||||||||
Title: | DIRECTOR | |||||||||
Notice Address: | c/o Barclays Capital | |||||||||
000 0xx Xxxxxx, 00xx Xxxxx | ||||||||||
Xxx Xxxx, XX 00000 | ||||||||||
Attention: | Xxxxx Xxxx | |||||||||
Telephone: | (000) 000-0000 | |||||||||
Facsimile: | (000) 000-0000 |
XXXXXXXX RED MAN CORPORATION
Joinder Agreement
Joinder Agreement
Consented to by: THE CIT GROUP/BUSINESS CREDIT, INC., as Administrative Agent |
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By: | /s/ Xxxxxx Xxxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxxx | |||
Title: | Vice President | |||
XXXXXXXX RED MAN CORPORATION
Joinder Agreement
Joinder Agreement