ALBEMARLE CORP - FORM 8-K - EX-10.3 - CONSENT - December 8, 2014

Attached files

file filename
8-K - CURRENT REPORT - ALBEMARLE CORPss408357_8k.htm
EX-10.1 - CASH BRIDGE CREDIT AGREEMENT - ALBEMARLE CORPss408357_ex1001.htm
EX-10.2 - CONSENT - ALBEMARLE CORPss408357_ex1002.htm
Exhibit 10.3
 
November 24, 2014

Albemarle Corporation
451 Florida Street
Baton Rouge, Louisiana 70801


 
Re:
Credit Agreement, dated as of August 15, 2014 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among Albemarle Corporation, a Virginia corporation (the “Borrower”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent.

Ladies and Gentlemen:

Reference is hereby made to the Credit Agreement described above.  Capitalized terms used herein without definition shall have the meanings ascribed to such terms in the Credit Agreement.

Notwithstanding anything to the contrary contained in Section 8.07 of the Credit Agreement, the Required Lenders hereby consent to the Guarantee by one or more Subsidiaries of (i) the Specified Senior Notes so long as the Borrower is in compliance with Section 7.12 of the Credit Agreement, (ii) that certain Credit Agreement, dated as of February 7, 2014, among the Borrower, the other borrowers party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent and (iii) that certain Credit Agreement to be dated on or about November 25, 2014, among the Borrower, the lenders party thereto and Bank of America, N.A., as administrative agent.

The consent contained herein is a one-time consent, is expressly limited to the purposes and matters set forth herein.  Nothing contained herein shall constitute a waiver or modification of any other rights or remedies the Administrative Agent or any Lender may have under any Loan Document or applicable Law.  The Credit Agreement shall remain in full force and effect according to its terms (as modified by this letter).

This letter may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.  Delivery of an executed counterpart by facsimile or other secure electronic format (.pdf) shall be as effective as an original.  This letter shall become effective upon the Administrative Agent’s receipt of counterparts hereof duly executed by the Required Lenders and the Borrower.

This letter shall be governed by and construed in accordance with the laws of the State of New York.
                                           
  Very truly yours,  
     
  BANK OF AMERICA, N.A.,
as Administrative Agent		  
         
         
  By:  /s/ Robert Rittelmeyer  
  Name: Robert Rittelmeyer  
  Title: Vice President  
         
 
ALBEMARLE CORPORATION
CONSENT LETTER (TERM LOAN)
 
 
 
 
                   
LENDERS:
BANK OF AMERICA, N.A.,
as a Lender		  
         
         
  By:  /s/ Darren Bielawski  
  Name: Darren Bielawski   
  Title: Vice President   
         
              
  JPMORGAN CHASE BANK, N.A.,
as a Lender
  
         
         
  By:  /s/ John Kushnerick  
  Name: John Kushnerick   
  Title: Vice President   
         
                        
  BNP PARIBAS,
as a Lender
  
         
         
  By: /s/ Mike Shryock  
  Name: Mike Shryock  
  Title: Managing Director  
         
                   
  By: /s/ Mike Hoffman  
  Name: Mike Hoffman  
  Title: Vice President  
         
               
  THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
as a Lender
  
         
         
  By: /s/ Mark Campbell  
  Name: Mark Campbell  
  Title: Authorized Signatory  
         
                          
  THE ROYAL BANK OF SCOTLAND PLC,
as a Lender
  
         
         
  By: /s/ William McGinty  
  Name: William McGinty  
  Title: Director  
         
               
  WELLS FARGO BANK, N.A.,
as a Lender
  
         
         
  By: /s/ Ashley Walsh  
  Name: Ashley Walsh  
  Title: Director  
         
 
 
 
ALBEMARLE CORPORATION
CONSENT LETTER (TERM LOAN)
 
 
 
 
 
  SUMITOMO MITSUI BANKING CORPORATION,
as a Lender
  
         
         
  By: /s/ James D. Weinstein  
  Name: James D. Weinstein  
  Title: Managing Director  
         
                    
  U.S. BANK, NATIONAL ASSOCIATION,
as a Lender
  
         
         
  By: /s/ Steven Dixon  
  Name: Steven Dixon  
  Title: Vice President  
         
                  
  HSBC BANK USA, NATIONAL ASSOCIATION,
as a Lender
  
         
         
  By: /s/ Jean-Philippe Huguet  
  Name: Jean-Philippe Huguet  
  Title: Director  
         
                   
  PNC BANK, NATIONAL ASSOCIATION,
as a Lender
  
         
         
  By: /s/ Christian S. Brown  
  Name: Christian S. Brown  
  Title: Senior Vice President  
         
                    
  THE NORTHERN TRUST COMPANY,
as a Lender
  
         
         
  By: /s/ Sara Bravo McCaulay  
  Name: Sara Bravo McCaulay  
  Title: Vice President  
         
                     
  WHITNEY BANK,
as a Lender
  
         
         
  By: /s/ Mark R. Phillips  
  Name: Mark R. Phillips  
       
         
 
 
 
 
 
 

 
 
ALBEMARLE CORPORATION
CONSENT LETTER (TERM LOAN)
 
 
 
 
 
ACCEPTED AND AGREED AS OF THE DATE SET FORTH ABOVE: 
                      
BORROWER:
 ALBEMARLE CORPORATION,
a Virginia corporation		  
         
         
  By: /s/ Scott Tozier  
  Name: Scott Tozier  
  Title: Sr. Vice President and CFO  
         
 
 
 
 
 
 
 
 
 
 
 
 
 
ALBEMARLE CORPORATION
CONSENT LETTER (TERM LOAN)
 
 
 
 
 


 

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