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8-K - 8-K - TransDigm Group INCd412743d8k.htm
EX-4.1 - EX-4.1 - TransDigm Group INCd412743dex41.htm
EX-10.2 - EX-10.2 - TransDigm Group INCd412743dex102.htm
EX-10.1 - EX-10.1 - TransDigm Group INCd412743dex101.htm

Exhibit 10.3

SUPPLEMENT NO. 4 dated as of September 14, 2012 (this “Supplement”) to the Guarantee and Collateral Agreement dated as of June 23, 2006, as amended and restated as of December 6, 2010, and as further amended and restated as of February 14, 2011 (as amended and supplemented from time to time, the “Guarantee and Collateral Agreement”), among TRANSDIGM INC., a Delaware corporation (the “Borrower”), TRANSDIGM GROUP INCORPORATED, a Delaware corporation (“Holdings”), each subsidiary of the Borrower listed on Schedule I thereto (each such subsidiary individually a “Subsidiary Guarantor” and collectively, the “Subsidiary Guarantors”; the Subsidiary Guarantors, Holdings and the Borrower are referred to collectively herein as the “Grantors”) and CREDIT SUISSE AG, as collateral agent for the Secured Parties and as administrative agent under each of the 2010 Credit Agreement and the 2011 Credit Agreement (each as defined below) (in such capacities, the “Agent”).

A. Reference is made to (a) the Credit Agreement dated as of December 6, 2010 (as amended, supplemented or otherwise modified from time to time, the “2010 Credit Agreement”), among the Borrower, Holdings, each subsidiary of the Borrower from time to time party thereto, the lenders from time to time party thereto (the “2010 Lenders”) and the Agent and (b) the Credit Agreement dated as of February 14, 2011 (as amended, supplemented or otherwise modified from time to time, the “2011 Credit Agreement” and, together with the 2010 Credit Agreement, the “Credit Agreements”), among the Borrower, Holdings, each subsidiary of the Borrower from time to time party thereto, the lenders from time to time party thereto (the “2011 Lenders” and, together with the 2010 Lenders, the “Lenders”) and the Agent.

B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the 2010 Credit Agreement, the 2011 Credit Agreement or the Guarantee and Collateral Agreement, as the context may require.

C. The Grantors have entered into the Guarantee and Collateral Agreement in order to induce the Lenders to make Loans and the 2010 Issuing Banks to issue Letters of Credit. Section 7.16 of the Guarantee and Collateral Agreement provides that additional Domestic Subsidiaries of the Loan Parties may become Subsidiary Guarantors and Grantors under the Guarantee and Collateral Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Subsidiary (the “New Subsidiary”) is executing this Supplement in accordance with the requirements of the applicable Credit Agreement to become a Subsidiary Guarantor and a Grantor under the Guarantee and Collateral Agreement in order to induce the Lenders to make additional Loans and the 2010 Issuing Banks to issue additional Letters of Credit, and as consideration for Loans previously made and Letters of Credit previously issued.

Accordingly, the Agent and the New Subsidiary agree as follows:

SECTION 1. In accordance with Section 7.16 of the Guarantee and Collateral Agreement, the New Subsidiary by its signature below becomes a Grantor and Subsidiary Guarantor under the Guarantee and Collateral Agreement with the same force and effect as if originally named therein as a Grantor and Subsidiary Guarantor, and the New Subsidiary hereby (a) agrees to all the terms and provisions of the Guarantee and Collateral Agreement applicable to it as a Grantor and Subsidiary Guarantor thereunder and (b) represents and warrants that the


representations and warranties made by it as a Grantor and Subsidiary Guarantor thereunder are true and correct in all material respects on and as of the date hereof (except for any representation or warranty that is limited by its terms to an earlier specified date). In furtherance of the foregoing, the New Subsidiary, as security for the payment and performance in full of the Secured Obligations (as defined in the Guarantee and Collateral Agreement), does hereby create and grant to the Agent, its successors and assigns, for the ratable benefit of the Secured Parties, their successors and assigns, a security interest in and lien on all of the New Subsidiary’s right, title and interest in and to the Collateral (as defined in the Guarantee and Collateral Agreement) of the New Subsidiary. Each reference to a “Grantor” or a “Subsidiary Guarantor” in the Guarantee and Collateral Agreement shall be deemed to include the New Subsidiary. The Guarantee and Collateral Agreement is hereby incorporated herein by reference.

SECTION 2. The New Subsidiary represents and warrants to the Agent and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms subject to applicable bankruptcy, insolvency or similar laws affecting creditors’ rights generally and to general principles of equity.

SECTION 3. This Supplement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Agent shall have received counterparts of this Supplement that, when taken together, bear the signatures of the New Subsidiary and the Agent. Delivery of an executed signature page to this Supplement by facsimile or other electronic transmission shall be as effective as delivery of a manually signed counterpart of this Supplement.

SECTION 4. The New Subsidiary hereby represents and warrants that (a) set forth on Schedule I attached hereto is a true and correct schedule of all leased and owned real property of the New Subsidiary and each other location where any Collateral of the New Subsidiary with a value in excess of $300,000 is stored or otherwise located, set forth on Schedule II is a true and correct schedule of the Pledged Collateral of the New Subsidiary and set forth on Schedule III is a true and correct schedule of the Intellectual Property of the New Subsidiary, and (b) set forth under its signature hereto, is the true and correct legal name of the New Subsidiary, its jurisdiction of formation and the location of its chief executive office.

SECTION 5. Except as expressly supplemented hereby, the Guarantee and Collateral Agreement shall remain in full force and effect.

SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

SECTION 7. In case any one or more of the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Guarantee and Collateral Agreement shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of itself


affect the validity of such provision in any other jurisdiction). The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions.

SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section 7.01 of the Guarantee and Collateral Agreement. All communications and notices hereunder to the New Subsidiary shall be given to it at the address set forth under its signature below.

SECTION 9. The New Subsidiary agrees to reimburse the Agent for its reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Agent.


IN WITNESS WHEREOF, the New Subsidiary and the Agent have duly executed this Supplement to the Guarantee and Collateral Agreement as of the day and year first above written.

 

AERO-INSTRUMENTS CO., LLC, as the New
Subsidiary
by  

/s/ Gregory Rufus

  Name: Gregory Rufus
  Title: Treasurer and Secretary
 

Address: 14901 Emery Avenue

  Cleveland, Ohio 44135

  Legal Name: Aero-Instruments Co., LLC
  Jurisdiction of Formation: Ohio
 

Location of Chief

Executive Office: 14901 Emery Avenue

Cleveland, Ohio 44135


CREDIT SUISSE AG, CAYMAN

ISLANDS BRANCH, as Agent

by  

/s/ Robert Hetu

  Name: Robert Hetu
  Title:   Managing Director
by  

/s/ Kevin Buddhdew

  Name: Kevin Buddhdew
  Title:   Associate


Schedule I

Subsidiary Guarantors

 

Exact Legal Name

  

Jurisdiction

  

Organizational

Identification

Number

  

Federal Taxpayer

Identification

Number

Aero-Instruments Co., LLC

   Ohio    1242087    34-1961289

Locations of Collateral

 

  1. 14835 Emery Avenue, Cleveland, Ohio.

 

  2. 14901 Emery Avenue, Cleveland, Ohio.

 

  3. 1324 Hird Avenue, Lakewood, Ohio.

 

  4. 4081 W. 150th Street, Cleveland, Ohio.


Schedule II

Capital Stock

None

Pledged Debt Securities

None


Schedule III

Intellectual Property

Patents

 

COUNTRY

 

PATENT TITLE

 

PATENT NO.

 

ISSUE DATE

U.S.

  NOSE SECTION FOR A PITOT PROBE   7,549,331 B1   6/23/09

U.S.

  TEMPERATURE PROBE   8,100,582 B1   1/24/12

Trademarks

 

COUNTRY

 

TRADEMARK

 

APPL. NO.

 

APPL. DATE

 

REG. NO.

 

REG. DATE

U.S.

  FLY TRUE   77/215,267   6/26/07   3,437,419   5/27/08

U.S.

  AERO-INSTRUMENTS & DESIGN   77/223,165   7/6/07   3,465,951   7/15/08

Copyrights

None

Licenses

 

LICENSED PRODUCT

 

EFFECTIVE DATE

 

EXPIRATION DATE

 

LICENSOR NAME

ANSYS FLUENT

  9/28/11   9/27/12   ANSYS, Inc.

ANSYS Geometry Interface for Creo Parametric

  9/28/11   9/27/12   ANSYS, Inc.

ANSYS DesignModeler

  9/28/11   9/27/12   ANSYS, Inc.

ANSYS HPC Pack

  9/28/11   9/27/12   ANSYS, Inc.


Schedule IV

Commercial Tort Claims

None.