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8-K - FORM 8-K - TENNECO INCc61571e8vk.htm
SIXTH AMENDMENT
     SIXTH AMENDMENT, dated as of November 15, 2010 (this “Amendment”), under the Second Amended and Restated Credit Agreement, dated as of March 16, 2007 (as amended and waived by the Amendment and Waiver dated as of July 23, 2007, the Second Amendment dated as of November 26, 2007, the Third Amendment dated as of December 23, 2008, the Fourth Amendment dated as of February 19, 2009 and the Fifth Amendment dated as of June 3, 2010 and as further amended, supplemented, or otherwise modified from time to time, the “Credit Agreement”), among TENNECO INC., a Delaware corporation (the “Borrower”), the several lenders from time to time parties thereto (the “Lenders”), JPMORGAN CHASE BANK, N.A., a national banking association, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and the other financial institutions named therein as agents for the Lenders.
W I T N E S S E T H:
     WHEREAS, the Borrower has requested an amendment under the Credit Agreement; and
     WHEREAS, the Required Lenders and the Administrative Agent are willing to agree to such amendment of the Credit Agreement, subject to the terms and conditions set forth herein;
     NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the Borrower, the Required Lenders and the Administrative Agent hereby agree as follows:
     1. Defined Terms. Unless otherwise defined herein, capitalized terms which are defined in the Credit Agreement, as amended hereby, are used herein as therein defined.
     2. Amendments to Definitions. (a) The definition of “Senior Unsecured Notes” is hereby amended by adding the following sentence at the end thereof: “Upon the issuance of any New Unsecured Indebtedness permitted by clause (ii) of Section 7.2(p), such New Unsecured Indebtedness shall be deemed to be Senior Unsecured Notes (in addition to any other Senior Unsecured Notes that are then outstanding).”
     (b) The definition of “Senior Unsecured Note Indenture” is hereby amended by adding the following sentence at the end thereof: “Upon the issuance of any New Unsecured Indebtedness permitted by clause (ii) of Section 7.2(p), the indenture or similar agreement pursuant to which such New Unsecured Indebtedness is issued shall be deemed to be a Senior Unsecured Note Indenture (in addition to any other indenture or similar agreement for Senior Unsecured Notes then outstanding); provided, however, that the provisions of Section 7.9(c) shall not apply to such indenture or similar agreement pursuant to which such New Unsecured Indebtedness is issued.”

 


 

     3. Amendments to Section 7.2 (Indebtedness). Section 7.2 of the Credit Agreement is hereby amended by deleting from paragraph (p) the phrase “and (ii)” and substituting therefor the following:
(ii) unsecured Indebtedness of the Borrower and guarantees thereof by Subsidiary Guarantors incurred only for the purpose of refinancing the Senior Subordinated Notes as permitted by the last paragraph of Section 7.9 as long as such unsecured Indebtedness and guarantees comply with the conditions set forth in clauses (c)(i), (iii), (iv) and (v) of the definition of “Permitted Refinancing Indebtedness” and (iii)
     4. Amendment to Section 7.9 (Optional Payments and Modifications of Senior Subordinated Notes). Section 7.9 of the Credit Agreement is hereby amended by adding the following paragraph at the end thereof:
In addition, the Borrower may repay, prepay, repurchase, redeem or defease the Senior Subordinated Notes from the Net Cash Proceeds of New Unsecured Indebtedness permitted by clause (ii) of Section 7.2(p) as long as the Net Cash Proceeds of such New Unsecured Indebtedness do not exceed $500,000,000 except, that the Borrower may pay any related premiums with either such Net Cash Proceeds or with other funds.
     5. Representations and Warranties. The Borrower hereby confirms that the representations and warranties set forth in Section 4 of the Credit Agreement, as amended by this Amendment, are true and correct in all material respects as if made as of the Sixth Amendment Effective Date (except such representations and warranties as are made as of a particular date, which such representations and warranties shall be true and correct in all material respects as if made as of such date). The Borrower represents and warrants that, after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing.
     6. Effectiveness. This Amendment shall become effective as of the date set forth above (the “Sixth Amendment Effective Date”) on the date on which the Administrative Agent shall have received this Amendment executed and delivered by the Administrative Agent, the Borrower and the Required Lenders (or, in the case of any Lender, a lender addendum or joinder agreement in a form specified by the Administrative Agent) and acknowledged by the Loan Parties.
     7. Continuing Effect of the Credit Agreement. This Amendment shall not constitute an amendment or waiver of any provision of the Credit Agreement not expressly referred to herein and shall not be construed as a waiver or consent to any further or future action on the part of the Borrower that would require a waiver or consent of the Lenders and the Administrative Agent. Except as expressly amended hereby, the provisions of the Credit Agreement are and shall remain in full force and effect.
     8. Counterparts. This Amendment may be executed by the parties hereto in any number of separate counterparts (including telecopied counterparts), each of which shall be

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deemed to be an original, and all of which taken together shall be deemed to constitute one and the same instrument.
     9. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

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     IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
         
  TENNECO INC.
 
 
  By:   /s/ John E. Kunz    
    Name:   John E. Kunz   
    Title:   V. P. Treasurer & Tax   
 
  JPMORGAN CHASE BANK, N.A., as
Administrative Agent and as a Lender
 
 
  By:      
    Name:      
    Title:      

 


 

         
     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.
         
  TENNECO INC.
 
 
  By:      
    Name:      
    Title:      
 
  JPMORGAN CHASE BANK, N.A., as
Administrative Agent and as a Lender
 
 
  By:   /s/ Richard W. Duker    
    Name:   Richard W. Duker   
    Title:   Managing Director   

 


 

         
         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

___BALLANTYNE FUNDING LLC______
                 [LENDER]
 
 
  By:   /s/ Stacy Lai    
    Name:   Stacy Lai   
    Title:   Assistant Vice President   

 


 

         
         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

Bank of America, N.A.
 
 
  By:   /s/ L. Dustin Vincent    
    Name:   L. Dustin Vincent   
    Title:   Senior Vice President   
 

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007

THE BANK OF NEW YORK MELLON
 
 
  By:   /s/ John T. Smathers    
    Name:   John T. Smathers   
    Title:   First Vice President   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007

THE BANK OF NOVA SCOTIA
[LENDER]
 
 
  By:   /s/ J.F. Todd    
    Name:   J.F. Todd   
    Title:   Managing Director   

 


 

         
         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007

Blue Shield of California
 
 
  By:   /s/ Guang Alex Yu    
    Name:   Guang Alex Yu   
    Title:   Authorized Signatory   

 


 

         
         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007

BNP Paribas
 
 
  By:   /s/ Mike Shryock    
    Name:   Mike Shryock   
    Title:   Managing Director   
         
  By:   /s/ Michael Pearce    
    Name:   Michael Pearce   
    Title:   Director   

 


 

         
         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007

CAPITAL ONE LEVERAGE FINANCE
CORPORATION, as LENDER
 
 
  By:   /s/ Ron Walker    
    Name:   Ron Walker   
    Title:   SVP   

 


 

         
         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007

Del Mar CLO I, Ltd.
By Caywood-Scholl Capital Management, LLC
As Collateral Manager
 
 
  By:   /s/ Tom Saake    
    Name:   Tom Saake   
    Title:   Managing Director   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, date as of March 16, 2007

Citicorp North America, Inc.
[LENDER)
 
 
  By:   /s/ Leon Hen-Tov    
    Name:   Leon Hen-Tov   
    Title:   Vice President   

 


 

         
         
  SIXTH AMENDMENT dated as of November 18,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement. dated as of March 16, 2007

COMMERZBANK AG, NEW YORK AND
GRAND CAYMAN BRANCHES
 
 
  By:   /s/ Patrick Hartweger    
    Name:   Patrick Hartweger   
    Title:   Senior Relationship Manager   
         
  By:   /s/ Peter Wesemeier    
    Name:   Peter Wesemeier   
    Title:   Relationship Manager   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007

DEUTSCHE BANK TRUST COMPANY AMERICAS
 
 
  By:   /s/ Erin Morrissey    
    Name:   Erin Morrissey   
    Title: Vice President   
         
  By:   /s/ Enrique Landaeta    
    Name:   Enrique Landaeta   
    Title:   Vice President   
 

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007


Fidelity Advisor Series I: Fidelity Advisor Floating
Rate High Income Fund
 
 
  By:   /s/ Jeffrey Christian    
    Name:   Jeffrey Christian   
    Title:   Deputy Treasurer   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16, 2007


Fifth Third Bank
      [LENDER]
 
 
  By:   /s/ Joseph A. Wemhoff    
    Name:   Joseph A. Wemhoff   
    Title:   Vice President   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

Franklin CLO V, Limited
 
 
  By:   /s/ Guang Alex Yu    
    Name:  Guang Alex Yu, Franklin Advisers, Inc. as Collateral Manager   
    Title:   Authorized Signatory   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

Franklin CLO VI, Limited
 
 
  By:   /s/ Guang Alex Yu    
    Name: Guang Alex Yu, Franklin Advisers, Inc.
           as Collateral Manager 
 
    Title:   Authorized Signatory   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

Franklin Floating Rate Daily Access Fund
 
 
  By:   /s/ Richard Hsu    
    Name:   Richard Hsu   
    Title:   Vice President   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

Franklin Floating Rate Master Series
 
 
  By:   /s/ Richard Hsu    
    Name:   Richard Hsu   
    Title:   Vice President   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

Franklin Templeton Limited Duration Income Trust
 
 
  By:   /s/ Richard Hsu    
    Name:   Richard Hsu   
    Title:   Vice President   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

Franklin Templeton Series II Funds Franklin
Floating Rate II Fund
 
 
  By:   /s/ Richard Hsu    
    Name:   Richard Hsu   
    Title:   Vice President   
 

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007


GENERAL ELECTRIC CAPITAL CORPORATION
 
 
  By:   /s/ James M. Cunningham    
    Name:   James M. Cunningham   
    Title:   Duly Authorized Signatory   

 


 

         
         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007


MORGAN STANLEY BANK, N.A.
 
 
  By:   /s/ Scott Taylor    
    Name:   Scott Taylor   
    Title:   Authorized Signatory   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007

PNC BANK, NATIONAL ASSOCIATION
 
 
  By:   /s/ Marc C. Van Horn    
    Name:   Marc C. Van Horn   
    Title:   Assistant Vice President   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007
 
 
        
  PUTNAM FLOATING RATE INCOME FUND     
       
     
  By:      
    Name:   See next page   
    Title:      
 

 


 

         
  PUTNAM FLOATING RATE INCOME FUND
 
 
  By:   /s/ Beth Mazor    
    Beth Mazor   
    Title:   V.P.   

 


 

         
  SIXTH AMENDMENT dated as of November 15, 2010 to
the Tenneco Inc. Second Amended and Restated Credit
Agreement, dated as of March 16, 2007
 
 
  RIDGEWORTH FUNDS — SEIX FLOATING RATE
HIGH INCOME FUND
 
 
  By:   Seix Investment Advisors LLC, as Sub-Adviser    
 
  ROCHDALE FIXED INCOME OPPORTUNITIES
PORTFOLIO
 
 
  By:   Seix Investment Advisors LLC, as Sub-Adviser    
 
  RIDGEWORTH FUNDS — TOTAL RETURN BOND
FUND
 
 
  By:   Seix Investment Advisors LLC, as Sub-Adviser    
 
  RIDGEWORTH FUNDS — INTERMEDIATE BOND
FUND
 
 
  By:   Seix Investment Advisors LLC, as Sub-Adviser    
 
  RIDGEWORTH FUNDS — INVESTMENT GRADE
BOND FUND
 
 
  By:   Seix Investment Advisors LLC, as Sub-Adviser    
 
  By:   /s/ George Goudelias    
    Name:   George Goudelias   
    Title:   Managing Director   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007
 
 
  The Royal Bank of Scotland plc
 
 
  By:   /s/ James Welch    
    Name:   James Welch   
    Title:   Director   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007
 
 
  U.S. BANK NATIONAL ASSOCIATION
                  [LENDER]
 
 
  By:   /s/ Corey Davis    
    Name:   Corey Davis   
    Title:   Vice President   

 


 

         
  SIXTH AMENDMENT dated as of November 15,
2010 to the Tenneco Inc. Second Amended and
Restated Credit Agreement, dated as of March 16,
2007
 
 
  WELLS FARGO CAPITAL FINANCE, LLC
 
 
  By:   /s/ Eunnie Kim    
    Name:   Eunnie Kim   
    Title:   Vice President   

 


 

         
  The undersigned Loan Parties acknowledge and
agree to the Sixth Amendment and confirm that
all of their obligations under the Loan
Documents remain in full force and effect after
giving effect thereto and the transactions
contemplated thereby:
 
 
  TENNECO INC.
TENNECO AUTOMOTIVE OPERATING
COMPANY INC.
TENNECO INTERNATIONAL HOLDING
CORP.
TENNECO GLOBAL HOLDINGS INC.
THE PULLMAN COMPANY
TMC TEXAS INC.
CLEVITE INDUSTRIES INC.
 
 
  By:   /s/ John G. Kunz    
    Title: V. P. Treasurer & Tax