FIRST AMENDMENT TO THE PLAN SUPPORT AGREEMENT
Execution
Copy
FIRST AMENDMENT TO THE PLAN SUPPORT
AGREEMENT
This
First Amendment (this “Amendment”), dated as
of June 13, 2010, is made and entered into by and among Visteon Corporation
(as debtor-in-possession and a reorganized debtor, as applicable, the “Company”), the other
Debtors, and the Consenting Senior Note Holders whose signatures are set forth
below (the “Amending
Note Holders”). Capitalized terms used and not otherwise defined herein
have the meanings set forth in the Plan Support Agreement (as defined
below).
WHEREAS,
the Debtors and the Amending Note Holders are parties to that certain Plan
Support Agreement, dated as of May 6, 2010 (as amended, the “Plan Support
Agreement”);
WHEREAS,
Section 8.5(c) of the Plan Support Agreement provides that the Plan Support
Agreement may be amended only in a writing signed by the Debtors and the
Requisite Senior Note Holders, subject to the other provisions set forth
therein; and
WHEREAS,
the Debtors and the Amending Note Holders wish to amend the Plan Support
Agreement, and the Amending Note Holders [include all of Requisite Senior Note
Holders];
NOW,
THEREFORE, in consideration of the mutual covenants and agreements contained
herein and in the Plan Support Agreement and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:
A. Amendments to the Plan
Support Agreement. The Plan Support Agreement is hereby amended as
follows:
1. Exhibit A to the Plan
Support Agreement. Exhibit A to the Plan Support Agreement shall be
replaced by the Fourth Amended
Joint Plan of Reorganization of Visteon Corporation and Its Debtor Affiliates
Pursuant to Chapter 11 of the United States Bankruptcy Code attached
as Exhibit 1
to this Amendment (the “Amended Plan”). All
references to the Amended Plan contained in the Plan Support Agreement shall
refer to the Amended Plan attached to this Amendment.
2. Exhibit B to the Plan
Support Agreement. Exhibit B to the Plan Support Agreement shall be
replaced by the Fourth Amended
Disclosure Statement for the Fourth Amended Joint Plan of Reorganization of
Visteon Corporation and Its Debtor Affiliates Pursuant to Chapter 11 of the
United States Bankruptcy Code attached as Exhibit 2
to this Amendment (the “Disclosure
Statement”). All references to the Disclosure Statement contained in the
Plan Support Agreement shall refer to the Disclosure Statement attached to this
Amendment.
3. Section 7.1(c)(2).
Section 7.1(c)(2) of the Plan Support Agreement shall be amended to the
following: “the Debtors have not filed the Amended Plan and the Disclosure
Statement with the Bankruptcy Court on or before June 15, 2010, or such
later date as may be agreed to by the Requisite Senior Note
Holders.”
B. Miscellaneous. This
Amendment and the Plan Support Agreement, together, contain the complete
agreement among the parties hereto and thereto and supersede any prior
understandings, agreements, letters of intent, or representations by or among
such parties, written or oral, that may have related to the subject matter
hereof in any way. Except as specifically amended hereby, the Plan Support
Agreement, as amended hereby, shall remain in full force and effect. The terms
and provisions of Sections 8.1, 8.3, 8.4, 8.5, the first paragraph of
Section 8.7, 8.11 and 8.12 of the Plan Support Agreement are incorporated herein
by reference as if set forth herein in their entirety and shall apply mutatis mutandis to this
Amendment.
* * * *
*
IN
WITNESS WHEREOF, the parties have executed or caused this Amendment to be
executed as of the date first written above.
VISTEON
CORPORATION
(on
behalf of itself and its Debtor affiliates)
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Debtors Signature Page]
CONSENTING
SENIOR NOTE HOLDER
CQS
Directional Opportunities
Master
Fund Limited
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
Kivu
Investment Fund Limited
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
Deutsche
Bank Securities Inc.
(solely
with respect to the
Distressed
Products Group)
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE XXXXXX
Xxxxxx
International L.P.
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By:
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Elliot
International Capital Advisors Inc.
as
Attorney-in-Fact
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
The
Liverpool Limited Partnership
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By:
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Liverpool
Associates, Ltd.
as
General Partner
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
Xxxxxxx,
Xxxxx & Co.
(solely
with respect to the High
Yield
Distressed Investing Group)
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
Monarch Alternative Capital
LP
(held
through DTC 0005 Goldman)
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
Oak
Hill Advisors, L.P.
on
behalf of certain private funds and
separate
accounts that it manages
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
Sola
Ltd
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]
CONSENTING
SENIOR NOTE HOLDER
UBS SECURITIES LLC (solely with respect
to
the
Distressed Debt Trading Group)
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By:
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Name:
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Title:
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By:
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Name:
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Title:
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[First Amendment to the Plan Support
Agreement — Consenting Senior Note Holder Signature Page]