GUARANTY CONFIRMATION AGREEMENT
Xxxxxxx
00xxx-0
XXXXXXXX
CONFIRMATION AGREEMENT
AGREEMENT, dated as of November 10,
2007, by and among Xxxxxx
XX, Inc., a Delaware corporation, Rogers Specialty Materials Corporation, a
Delaware corporation, Rogers Japan Inc., a Delaware corporation, Rogers
Southeast Asia, Inc., a Delaware corporation, Rogers Taiwan, Inc., a Delaware
corporation, Rogers Korea, Inc., a Delaware corporation, Rogers Technologies
Singapore, Inc., a Delaware corporation and Rogers Circuit Materials
Incorporated, a Delaware corporation (together, the "Guarantors"), and RBS
Citizens, National Association, a national banking association (the “Lender”),
successor in interest to Citizens Bank of Connecticut, a Connecticut stock
savings bank.
R E C I T A L
S
The Guarantors executed and delivered
to Citizens Bank of Connecticut, predecessor in interest to Lender, a Guaranty
dated as of November 13, 2006 (the “Guaranty”), pursuant to which the Guarantors
absolutely and unconditionally guaranteed to Lender the full and prompt payment
and performance when due of the “Obligations” of Xxxxxx Corporation, Rogers
Technologies (Barbados) SRL, Rogers (China) Investment Co., Ltd., Rogers N.V.,
and Rogers Technologies (Suzhou) Co. Ltd. (collectively, the "Borrowers") to
Citizens Bank of Connecticut, all as set forth in more detail therein. The
Lender and the Borrowers now desire to enter into a certain Amendment No. 1 to
Multicurrency Revolving Credit Agreement dated of even or substantially even
date herewith (the “Amendment”).
Guarantors shall derive substantial
benefits, financial and otherwise, from the execution and delivery of the
Amendment and any agreements or instruments executed in connection therewith
(including without limitation any and all amended and restated revolving credit
notes).
The Lender is only willing to enter
into the Amendment if, among other things, Guarantor execute and deliver this
Agreement.
NOW, THEREFORE, in consideration of the
premises, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and to induce the granting of any
further credit by the Lender to the Borrower, Guarantors hereby agree as
follows:
1. Each
Guarantor hereby represents, warrants, confirms and covenants to the Lender that
(i) the Guaranty remains in full force and effect, (ii) the Guaranty remains the
legal, valid and binding obligation of such Guarantor, enforceable in accordance
with its terms, (iii) such Guarantor has no claims, counterclaims, defenses or
offsets against the Lender, whether relating to the Guaranty or otherwise and
(iv) pursuant to the provisions of the Guaranty, the obligations of the
Borrowers guaranteed by such Guarantor pursuant to the Guaranty include, without
limitation, all principal, interest, costs and expenses (including attorneys'
fees) under the Note and any and all obligations under any swap or hedging
agreements. Pursuant to the applicable terms and provisions of the
Guaranty, none of the modifications set forth or to be set forth in the
Amendment (or in any other agreement or instrument) shall impair the obligations
of Guarantors under the Guaranty.
1
2. The
execution and delivery of this Agreement (or any other confirmation (past,
present or future)) shall not be construed or interpreted to create a custom or
course of dealing or performance (or any duty or obligation) pursuant to which
the Lender is required to obtain a confirmation or consent from the Guarantors,
or to notify the Guarantors, with respect to any modification or other event or
circumstance. No such consent or confirmation or notice shall be
necessary in connection with any such modification or other event or
circumstance in order to keep the obligations of Guarantors under the Guaranty
in full force and effect, said obligations being unconditional as set forth
therein.
3. No
amendment, waiver or other modification of this Agreement shall be effective
against a party hereto unless set forth in writing signed by such
party. This Agreement may be executed in counterparts.
4. This
Agreement shall (i) be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns and (ii) shall be
governed by and construed in accordance with the internal laws of the State of
Connecticut.
[Signatures
begin on next page]
2
IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement
as of the day and year first written above.
XXXXXX
XX, INC.
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
ROGERS
SPECIALTY MATERIALS CORPORATION
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
ROGERS
JAPAN, INC.
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
3
ROGERS
SOUTHEAST ASIA, INC.
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
ROGERS
TAIWAN, INC.
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
ROGERS
KOREA, INC.
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
4
ROGERS
TECHNOLOGIES SINGAPORE,
INC.
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
ROGERS
CIRCUIT MATERIALS INCORPORATED
|
||
By:
|
/s/ Xxxxxx X. Xxxxxx
|
|
Xxxxxx
X. Xxxxxx
|
||
President
|
||
By:
|
/s/ Xxxxxx X. Xxxxxxxx
|
|
Xxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
RBS
CITIZENS, NATIONAL ASSOCIATION
|
||
By:
|
/s/ Xxxxxxxx X. Xxxxxxxx
|
|
Xxxxxxxx
X. Xxxxxxxx
|
||
Vice
President
|
||
5