AMENDED AND RESTATED CREDIT AGREEMENT
Exhibit 10.1
AMENDED AND RESTATED CREDIT AGREEMENT
THIS AMENDED AND RESTATED CREDIT AGREEMENT (this "Agreement") is entered into as of September 3, 2014, by and between KEY TRONIC CORPORATION, a Washington corporation ("Borrower"), and XXXXX FARGO BANK, NATIONAL ASSOCIATION ("Bank").
Bank and Borrower are parties to a Credit Agreement dated on or about August 19, 2009 (the "First Credit Agreement"). Borrower has requested that Bank extend additional credit to Borrower, and Bank has agreed to provide such credit to Borrower on the terms and conditions contained herein.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Bank and Borrower hereby agree that the First Credit Agreement is amended and restated in its entirety as follows:
ARTICLE I
1.1 Line of Credit. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower from time to time up to and including August 31, 2019, not to exceed at any time the aggregate principal amount of Thirty Million and 00/100 Dollars ($30,000,000.00) ("Line of Credit"), the proceeds of which shall be used by Borrower for working capital and general corporate purpose needs of Borrower and its subsidiaries. Borrower's obligation to repay advances under the Line of Credit shall be evidenced by the First Replacement Revolving Line of Credit Note ("Line of Credit Note"), all terms of which are incorporated herein by this reference. All advances under the Line of Credit shall bear interest at the rates provided for in the Line of Credit Note. Borrower shall pay Bank an annual fee for the Line of Credit, the amount of which shall be determined as follows (the "Annual Fee"): (a) if Borrower's Cash Flow Leverage Ratio is less than 1.00X, the Annual Fee shall be 00.15% of the amount committed; (b) if Borrower's Cash Flow Leverage Ratio is between 1.01X and 2.00X, the Annual Fee shall be 00.20% of the amount committed; and (c) if Borrower's Cash Flow Leverage Ratio is greater than 2.00X, the Annual Fee shall be 00.25% of the amount committed. The Annual Fee shall be determined, pro-rated and payable quarterly, beginning December 15, 2014. Borrower's Cash Flow Leverage Ratio shall be determined quarterly in accordance with Section 4.9(a) of this Agreement.
1.2 Letter of Credit Subfeature. As a subfeature under the Line of Credit, Bank agrees from time to time during the term thereof to issue or cause an affiliate to issue standby commercial letters of credit for the account of Borrower (each, a "Letter of Credit" and collectively, "Letters of Credit"); provided however, that the aggregate undrawn amount of all outstanding Letters of Credit shall not at any time exceed Five Hundred Thousand and 00/100 Dollars ($500,000.00). The form and substance of each Letter of Credit shall be subject to approval by Bank, in its sole discretion. Each Letter of Credit shall be issued for a term not to exceed three hundred sixty (360) days, as designated by Borrower; provided however, that no Letter of Credit shall have an expiration date later than the maturity date of the Line of Credit. The undrawn amount of all Letters of Credit shall be reserved under the Line of Credit and shall not be available for borrowings thereunder. Each Letter of Credit shall be subject to the additional terms and conditions of the Letter of Credit agreements, applications and any related documents required by Bank in connection with the issuance thereof. Each drawing paid under a Letter of Credit shall be deemed an advance under the Line of Credit and shall be repaid by Borrower in accordance with the terms and conditions of this Agreement applicable to such advances; provided however, that if advances under the Line of Credit are not available, for any reason, at the time any drawing is paid, then Borrower shall immediately pay to Bank the full amount drawn, together with interest thereon from the date such drawing is paid to the date such amount is fully repaid by Borrower, at the rate of interest applicable to advances under the Line of Credit. In such event Borrower agrees that Bank, in its sole discretion, may debit any account maintained by Borrower with Bank for the amount of any such drawing, Borrower shall pay to Bank a fee upon the issuance of each Letter of Credit equal to two percent (2.00%) of the face amount thereof (the “Letter of Credit Issuance Fee”. In addition to the Letter of Credit Issuance Fee, Borrower shall pay Bank (i) fees upon the payment or negotiation of each drawing under any Letter of Credit, and (ii) fees upon the occurrence of any other activity with respect to any Letter of Credit (including without limitation, the transfer, amendment or cancellation of any Letter of Credit) determined in accordance with Bank's standard fees and charges then in effect for such activity.
1.3 Borrowing and Repayment under Line of Credit. Borrower may from time to time during the term of the Line of Credit borrow, partially or wholly repay its outstanding borrowings, and reborrow, subject to all of the limitations, terms and conditions contained herein or in the Line of Credit Note; provided however, that the total outstanding borrowings under the Line of Credit, which includes outstanding letters of credit, shall not at any time exceed the lesser of the maximum principal amount available thereunder, as set forth above, or an amount which would cause Borrower to fail to achieve and maintain the required Asset Coverage Ratio. At all times, Borrower shall maintain an Asset Coverage Ratio of not less than 1.30 to 1.00. “Asset Coverage Ratio” is defined as the sum of all domestic and Canadian Accounts Receivable divided by the outstanding balance of the Line of Credit Note (inclusive of outstanding letters of credit). As used herein Accounts Receivable shall have the meanings ascribed to such term by Article 9 of the Uniform Commercial Code in effect in the State of Washington.
1.4 Term Note. Subject to the terms and conditions of this Agreement, Bank hereby agrees to make advances to Borrower in the maximum principal amount of Thirty Five Million and 00/100 Dollars ($35,000,000.00) (the "Term Loan"), the proceeds of which shall be used by Borrower to acquire all of the outstanding shares of CDR Manufacturing, Inc. ("CDR"), pursuant to the terms of a Stock Purchase Agreement between Borrower, CDR and the shareholders of CDR (the "Stock Purchase Agreement"). Borrower's obligation to repay advances under the Term Loan shall be evidenced by a promissory note dated as of the date hereof (the "Term Note"), all terms of which are incorporated herein by this reference. All advances under the Term Loan shall bear interest at the rates provided for in the Term Note.
1.5 Collection of Payments. Borrower authorizes Bank to collect principal, interest and fees due under the Line of Credit Note, Term Note or this Credit Agreement by charging Borrower's deposit account number 4020010104 with Bank, or any other deposit account maintained by Borrower with Bank, for the full amount thereof. Should there be insufficient funds in any such deposit account to pay all such sums when due, the full amount of such deficiency shall be immediately due and payable by Borrower.
1.6 Collateral. As security for all indebtedness and other obligations of Borrower to Bank, including, without limitations, its obligations under the Line of Credit Note, Term Note, this Credit Agreement and the Loan Documents (as defined herein), any interest rate swap agreements, foreign exchange agreement, and any foreign exchange swap agreement, Borrower hereby grants to Bank security interests of first priority in (a) all Borrower's inventory, accounts, equipment, general intangibles, payment intangibles, and any and all cash and non-cash proceeds or products of the foregoing, including, without limitation, proceeds in deposit accounts or proceeds represented by insurance claims or policies; and (b) a pledge of sixty five (65%) percent of Borrower’s stock ownership interest in the foreign subsidiaries listed on Schedule 1.6-1 attached hereto, which stock ownership interest shall be no less than sixty five (65%) percent of the total issued and authorized shares in each such subsidiary. In addition Borrower shall cause each Domestic Subsidiary to grant Bank a first priority security interest in each such Domestic Subsidiary's inventory, accounts, equipment, general intangibles, payment intangibles, and all cash and non-cash proceeds or products of the foregoing, including, without limitation, proceeds in deposit accounts or proceeds represented by insurance claims or policies. All of the foregoing shall be evidenced by and subject to the terms of such security agreements, financing statements, and other documents as Bank shall reasonably require, all in form and substance satisfactory to Bank. Borrower shall pay to Bank immediately upon demand the full amount of all charges, costs and expenses (to include fees paid to third parties, including Bank’s reasonable attorney’s fees, and all allocated costs of Bank personnel, including Bank’s in-house counsel), expended or incurred by Bank in connection with any of the foregoing security, including without limitation, filing and recording fees and costs of appraisals, audits and title insurance.
ARTICLE II
Borrower makes the following representations and warranties to Bank, which representations and warranties shall survive the execution of this Agreement and shall continue in full force and effect until the full and final payment, and satisfaction and discharge, of all obligations of Borrower to Bank subject to this Agreement.
2.1. LEGAL STATUS. Borrower is a corporation, duly organized and existing and in good standing under the laws of the state of Washington, and is qualified or licensed to do business (and is in good standing as a foreign corporation, if applicable) in all jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower.
ARTICLE III
(b) Closing of Stock Purchase Agreement. Bank shall have received satisfactory evidence that Borrower has closed under the Stock Purchase Agreement and acquired all of the outstanding shares of CDR.
(c) Documentation. Bank shall have received, in form and substance satisfactory to Bank, each of the following, duly executed: (i) this Agreement, the First Replacement Revolving Line of Credit Note, the Term Note, the Amended and Restated Continuing Security Agreement (Rights to Payment and Inventory), Amended and Restated Security Agreement: Equipment, and Amended and Restated Pledge Agreement, and each and every other instrument or document required thereby; (ii) a Landlord Release Agreement, executed by each landlord or lessor of a facility leased by Borrower, or any of its Domestic Subsidiaries, in form and content acceptable to Bank, in which each such landlord acknowledges and consents to Bank's security interest in the Collateral, confirms that such security interest has priority over and is superior to any interest the landlord has or may have in such collateral, and provides Bank with a reasonable opportunity to remove or otherwise liquidate such Collateral following the occurrence of an Event of Default; (iii) a Borrowing Resolution, authorizing Borrower’s entering into the Term Loan and Line of Credit, this Agreement, and executing the Loan Documents; (iv) the guaranties of each of Borrower’s Domestic Subsidiaries; (v) a Resolution Authorizing Guaranty from each of Borrower’s Domestic Subsidiaries; and (vi) such other documents as Bank may require under this Agreement.
(d) Filing Authorization. Borrower hereby authorizes Lender, or its agent, to file such UCC financing statements, amendments and continuation statements in the filing offices of the various states that Lender deems necessary and appropriate to perfect its security interests.
(e) Financial Condition. There shall have been no material adverse change, as determined by Bank, in the financial condition or business of Borrower or any guarantor hereunder, nor any material decline, as determined by Bank, in the market value of any collateral required hereunder or a substantial or material portion of the assets of Borrower or any such guarantor.
(f) Insurance. Borrower shall have delivered to Bank evidence of insurance coverage on all Borrower's property, in form, substance, amounts, covering risks and issued by companies satisfactory to Bank, and where required by Bank, with loss payable endorsements in favor of Bank, including without limitation, policies of fire and extended coverage insurance covering all real property collateral required hereby, with replacement cost and mortgagee loss payable endorsements, and such policies of insurance against specific hazards affecting any such real property as may be required by governmental regulation or Bank.
(g) Lien Search. Bank shall have received such lien searches as it may require to confirm that its lien on the Collateral is in a first priority position, subject only to such exceptions as are acceptable to Bank, in its sole discretion.
(a) Compliance. The representations and warranties contained herein and in each of the other Loan Documents shall be true on and as of the date of the signing of this Agreement and on the date of each extension of credit by Bank pursuant hereto, with the same effect as though such representations and warranties had been made on and as of each such date, except to the extent any such representation or warranty is specifically stated as of a specific date, in which case such representation or warranty shall be true on and as of such specific date, and on each such date, no Event of Default as defined herein, and no condition, event or act which with the giving of notice or the passage of time or both would constitute such an Event of Default, shall have occurred and be continuing or shall exist.
(b) Documentation. Bank shall have received all additional documents which may be required in connection with such extension of credit.
ARTICLE IV
Borrower covenants that so long as Bank remains committed to extend credit to Borrower pursuant hereto, or any liabilities (whether direct or contingent, liquidated or unliquidated) of Borrower to Bank under any of the Loan Documents remain outstanding, and until payment in full of all obligations of Borrower subject hereto, Borrower shall, unless Bank otherwise consents in writing:
(a)concurrently with its execution of this Agreement and prior to funding of the Term Loan, Borrower shall provide Bank with its pro forma Certificate of Compliance showing, following the closing of the Stock Purchase Agreement, Borrower's compliance with the financial covenants imposed by Section 4.9 as of the date hereof.
(b)not later than 120 days after and as of the end of each fiscal year, an audited consolidated and consolidating financial statement of Borrower (including balance sheet and statements of income, retained earnings and cash flow), together with all notes to management, prepared by and including the unqualified opinion of a recognized independent accounting firm acceptable to Bank.
(b) not later than 45 days after and as of the end of each fiscal quarter, a financial statement of Borrower, prepared by Borrower, to include a balance sheet, statements of income, retained earnings and cash flow,
(c) not later than 45 days after and as of the end of each calendar quarter, an aged listing of accounts receivable, and immediately upon each request from Bank, a list of the names and addresses of all Borrower's account debtors;
(d) no later than August 15 of each calendar year, consolidated projected financial statements for the coming fiscal year, to include a balance sheet, statements of income and cash flows and expenses;
(e) no later than 45 days after and as of each fiscal quarter, a certificate of a senior financial officer of Borrower: (i) stating that said financial statements are accurate and that there exists no Event of Default nor any condition, act or event which with the giving of notice or the passage of time or both would constitute an Event of Default, and (ii) with calculations showing compliance with the financial covenants, together with copies of all supporting work papers; and
(f) from time to time such other information as Bank may reasonably request.
(a) Cash Flow Leverage Ratio. Borrower will not allow the ratio of Funded Debt to EBITDA (plus up to $1,000,000.00 of approved cash closing costs incurred in connection with closing under the Stock Purchase Agreement), measured quarterly on a trailing four (4) quarter basis, to exceed 3.00 to 1.00, for quarters ending on or prior to June 30, 2015, or 2.50 to 1.00, for quarters ending on or after September 30, 2015. As used herein, (i) “EBITDA" is defined as net profit before tax of Borrower and CDR, plus interest expense (net of capitalized interest expense), depreciation expense and amortization expense; and (ii) “Funded Debt" is defined as the sum of all obligations for borrowed money (including subordinated debt) plus all capital lease obligations.
(b) Fixed Charge Coverage Ratio. Borrower shall maintain a Fixed Charge Coverage Ratio of not less than 1.25 to 1.00, measured quarterly on a trailing four (4) quarter basis. "Fixed Charge Coverage Ratio" is the sum of Borrower and CDR net profit after tax, plus depreciation, plus amortization, plus capital contributions, plus interest expense, plus up to $1,000,000.00 of approved cash closing costs incurred in connection with the closing of the Stock Purchase Agreement, minus distributions and dividends, divided by the sum of the current portion of long term debt and capital leases plus interest expense as of the measurement period.
(c) Minimum Profit. Borrower’s and CDR's minimum net profit, after payment of all applicable taxes, will not be less than $2,000,000.00, measured quarterly on a trailing four (4) quarter basis.
ARTICLE V
Borrower further covenants that so long as Bank remains committed to extend credit to Borrower pursuant hereto, or any liabilities (whether direct or contingent, liquidated or unliquidated) of Borrower to Bank under any of the Loan Documents remain outstanding, and until payment in full of all obligations of Borrower subject hereto, Borrower will not without Bank's prior written consent:
5.7. PLEDGE OF ASSETS. Mortgage, pledge, grant or permit to exist a security interest in, or lien upon, all or any portion of Borrower's assets now owned or hereafter acquired, except any of the foregoing in favor of Bank or which is existing as of, and disclosed to Bank in writing prior to, the date hereof, and except for purchase money security interests to secure indebtedness permitted under Section 5.2(b) of this Credit Agreement.
ARTICLE VI
6.1. The occurrence of any of the following shall constitute an "Event of Default" under this Agreement:
(a) Borrower shall fail to pay when due any principal, interest, fees or other amounts payable under any of the Loan Documents.
(b) Any financial statement or certificate furnished to Bank in connection with, or any representation or warranty made by Borrower or any other party under this Agreement or any other Loan Document shall prove to be incorrect, false or misleading in any material respect when furnished or made.
(c) Any default in the performance of or compliance with any obligation, agreement or other provision contained herein or in any other Loan Document (other than those specifically described as an “Event of Default” in this 6.1), and with respect to any such default that by its nature can be cured, such default shall continue for a period of twenty (20) days from its occurrence.
(d) Any default in the payment or performance of any obligation, or any defined event of default, under the terms of any contract, instrument or document (other than any of the Loan Documents) pursuant to which Borrower, any guarantor hereunder (with each such guarantor, referred to herein as a "Third Party Obligor") has incurred any debt or other liability to any person or entity, including Bank.
(e) Borrower or any Third Party Obligor shall become insolvent, or shall suffer or consent to or apply for the appointment of a receiver, trustee, custodian or liquidator of itself or any of its property, or shall generally fail to pay its debts as they become due, or shall make a general assignment for the benefit of creditors; Borrower or any Third Party Obligor shall file a voluntary petition in bankruptcy, or seeking reorganization, in order to effect a plan or other arrangement with creditors or any other relief under the Bankruptcy Reform Act, Title 11 of the United States Code, as amended or recodified from time to time ("Bankruptcy Code"), or under any state or federal law granting relief to debtors, whether now or hereafter in effect; or Borrower or any Third Party Obligor shall file an answer admitting the jurisdiction of the court and the material allegations of any involuntary petition; or Borrower or any Third Party Obligor shall be adjudicated a bankrupt, or an order for relief shall be entered against Borrower or any Third Party Obligor by any court of competent jurisdiction under the Bankruptcy Code or any other applicable state or federal law relating to bankruptcy, reorganization or other relief for debtors.
(f) The filing of a notice of judgment lien against Borrower or any Third Party Obligor; or the recording of any abstract of judgment against Borrower or any Third Party Obligor in any county in which Borrower or such Third Party Obligor has an interest in real property; or the service of a notice of levy and/or of a writ of attachment or execution, or other like process, against the assets of Borrower or any Third Party Obligor; or the entry of a judgment against Borrower or any Third Party Obligor; or any involuntary petition or proceeding pursuant to the Bankruptcy Code or any other applicable state or federal law relating to bankruptcy, reorganization or other relief for debtors is filed or commenced against Borrower or any Third Party Obligor.
(g) There shall exist or occur any event or condition that Bank in good faith believes impairs, or is substantially to impair, the prospect of payment or performance by Borrower, any Third Party Obligor, of its obligations under any of the Loan Documents.
(h) The dissolution or liquidation of Borrower or any Third Party Obligor, or any of its directors, stockholders or members, shall take action seeking to effect the dissolution or liquidation of Borrower or such Third Party Obligor.
(i) Any change in control of Borrower or any entity or combination of entities that directly or indirectly control Borrower, with “control” defined as ownership of an aggregate of twenty-five percent (25%) or more of the common stock, members’ equity or other ownership interest (other than a limited partnership interest); or if Borrower is a partnership, any withdrawal, resignation or expulsion of any of the general partners in Borrower.
(j) Any sale, lease, transfer or other disposition, except in the ordinary course of its business, of all or a substantial or material portion of the assets of Borrower or any Third Party Obligor.
ARTICLE VII
BORROWER: Xxxxxx X. Xxxxxxxxx
Chief Financial Officer
Key Tronic Corporation
X.X. Xxx 00000
Xxxxxxx, XX 00000
BANK XXXXX FARGO BANK, NATIONAL ASSOCIATION
Attn: Xxxx Xxxxxxxxxxx
000 X. 0xx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxxxx 00000
or to such other address as any party may designate by written notice to all other parties. Each such notice, request and demand shall be deemed given or made as follows: (a) if sent by hand delivery, upon delivery; (b) if sent by mail, upon the earlier of the date of receipt or three (3) days after deposit in the U.S. mail, first class and postage prepaid; and (c) if sent by facsimile, upon receipt during regular business hours.
(a) Arbitration. The parties hereto agree, upon demand by any party, to submit to binding arbitration all claims, disputes and controversies between or among them (and their respective employees, officers, directors, attorneys, and other agents), whether in tort, contract or otherwise in any way arising out of or relating to (i) any credit subject hereto, or any of the Loan Documents, and their negotiation, execution, collateralization, administration, repayment, modification, extension, substitution, formation, inducement, enforcement, default or termination; or (ii) requests for additional credit.
(b) Governing Rules. Any arbitration proceeding will (i) proceed in a location in Washington selected by the American Arbitration Association (“AAA”); (ii) be governed by the Federal Arbitration Act (Title 9 of the United States Code), notwithstanding any conflicting choice of law provision in any of the documents between the parties; and (iii) be conducted by the AAA, or such other administrator as the parties shall mutually agree upon, in accordance with the AAA’s commercial dispute resolution procedures, unless the claim or counterclaim is at least $1,000,000.00 exclusive of claimed interest, arbitration fees and costs in which case the arbitration shall be conducted in accordance with the AAA’s optional procedures for large, complex commercial disputes (the commercial dispute resolution procedures or the optional procedures for large, complex commercial disputes to be referred to herein as applicable, as the “Rules”). If there is any inconsistency between the terms hereof and the Rules, the terms and procedures set forth herein shall control. Any party who fails or refuses to submit to arbitration following a demand by any other party shall bear all costs and expenses incurred by such other party in compelling arbitration of any dispute. Nothing contained herein shall be deemed to be a waiver by any party that is a bank of the protections afforded to it under 12 U.S.C. §91 or any similar applicable state law.
(d) Arbitrator Qualifications and Powers. Any arbitration proceeding in which the amount in controversy is $5,000,000.00 or less will be decided by a single arbitrator selected according to the Rules, and who shall not render an award of greater than $5,000,000.00. Any dispute in which the amount in controversy exceeds $5,000,000.00 shall be decided by majority vote of a panel of three arbitrators; provided however, that all three arbitrators must actively participate in all hearings and deliberations. The arbitrator will be a neutral attorney licensed in the State of Washington or a neutral retired judge of the state or federal judiciary of Washington, in either case with a minimum of ten years experience in the substantive law applicable to the subject matter of the dispute to be arbitrated. The arbitrator will determine whether or not an issue is arbitratable and will give effect to the statutes of limitation in determining any claim. In any arbitration proceeding the arbitrator will decide (by documents only or with a hearing at the arbitrator's discretion) any pre-hearing motions which are similar to motions to dismiss for failure to state a claim or motions for summary adjudication. The arbitrator shall resolve all disputes in accordance with the substantive law of Washington and may grant any remedy or relief that a court of such state could order or grant within the scope hereof and such ancillary relief as is necessary to make effective any award. The arbitrator shall also have the power to award recovery of all costs and fees, to impose sanctions and to take such other action as the arbitrator deems necessary to the same extent a judge could pursuant to the Federal Rules of Civil Procedure, the Washington Rules of Civil Procedure or other applicable law. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction. The institution and maintenance of an action for judicial relief or pursuit of a provisional or ancillary remedy shall not constitute a waiver of the right of any party, including the plaintiff, to submit the controversy or claim to arbitration if any other party contests such action for judicial relief.
(e) Discovery. In any arbitration proceeding, discovery will be permitted in accordance with the Rules. All discovery shall be expressly limited to matters directly relevant to the dispute being arbitrated and must be completed no later than twenty (20) days before the hearing date. Any requests for an extension of the discovery periods, or any discovery disputes, will be subject to final determination by the arbitrator upon a showing that the request for discovery is essential for the party's presentation and that no alternative means for obtaining information is available.
(f) Class Proceedings and Consolidations. No party hereto shall be entitled to join or consolidate disputes by or against others in any arbitration, except parties who have executed any Loan Document, or to include in any arbitration any dispute as a representative or member of a class, or to act in any arbitration in the interest of the general public or in a private attorney general capacity.
(g) Payment Of Arbitration Costs And Fees. The arbitrator shall award all costs and expenses of the arbitration proceeding.
(h) Miscellaneous. To the maximum extent practicable, the AAA, the arbitrators and the parties shall take all action required to conclude any arbitration proceeding within 180 days of the filing of the dispute with the AAA. No arbitrator or other party to an arbitration proceeding may disclose the existence, content or results thereof, except for disclosures of information by a party required in the ordinary course of its business or by applicable law or regulation. If more than one agreement for arbitration by or between the parties potentially applies to a dispute, the arbitration provision most directly related to the Loan Documents or the subject matter of the dispute shall control. This arbitration provision shall survive termination, amendment or expiration of any of the Loan Documents or any relationship between the parties.
ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW.
KEY TRONIC CORPORATION | XXXXX FARGO BANK, | |||
NATIONAL ASSOCIATION | ||||
By: | /s/ Xxxxxx X. Xxxxxxxxx | By: | /s/ Xxxx Xxxxxxxxxxx | |
Title: | CFO | Title: | Vice President |
SCHEDULE 1.6-1
1. | Key Tronic Xxxxxx, X.X. De C.V. |
2. | Key Tronic Xxxxxxx, X.X. De C.V. |
SCHEDULE 1.6-2
1. | CDR Manufacturing, Inc. |
2. | CDR Holdings, LLC |
3. | Ayrshire Electronics of Mississippi, LLC |
4. | Ayrshire Electronics of Arkansas, LLC |
5. | Ayrshire Electronics of Mexico, LLC. |