Amendment Agreement No. 2, dated March 13, 2023, to Amended and Restated Revolving Credit Agreement, dated as of November 2, 2022, among Adient US LLC, the other borrower subsidiaries party thereto, the lenders party thereto, the issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent
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EX-10.2 3 a03312023exhibit102.htm EX-10.2 Document
Exhibit 10.2
AMENDMENT AGREEMENT NO. 2
This AMENDMENT AGREEMENT NO. 2 (this “Agreement”), dated as of March 13, 2023, is made by and among Adient US, LLC, a Michigan limited liability company (the “Lead Borrower”), the Lenders (which Lenders constitute the Required Lenders) and Issuing Banks party hereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent and Collateral Agent for the Lenders (in such capacity, the “Administrative Agent”).
WHEREAS, the Lead Borrower and the Administrative Agent are party to that certain Amended and Restated Revolving Credit Agreement, dated as of November 2, 2022 (as amended, restated, amended and restated, modified and/or supplemented from time to time, the “Credit Agreement”; capitalized terms not otherwise defined herein shall have the respective meaning assigned to such terms in the Credit Agreement), by and among the Lead Borrower, the other Loan Parties party thereto, the Administrative Agent and the various financial institutions from time to time party thereto;
WHEREAS, Section 13.12(a) of the Credit Agreement provides that the Administrative Agent and the Loan Parties may amend the Loan Documents with the written consent of the Loan Parties party to the Loan Documents, the Required Lenders and the Administrative Agent;
WHEREAS, the Administrative Agent and the Loan Parties desire to amend the Credit Agreement in accordance with Section 13.12(a) as further described herein;
NOW, THEREFORE, in consideration of the promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
SECTION 1.Amendment. Subject to the terms and conditions to effectiveness set forth in Section 2 hereof, the Credit Agreement is hereby amended as follows:
(a)The definition of “Bank Product Debt” in the Credit Agreement is hereby amended by replacing “Borrower” with “Parent”.
(b)The definition of “Secured Bank Product Obligations” in the Credit Agreement is hereby amended by replacing “Borrower or its Subsidiary” with “Parent or its Subsidiary”.
(c)The definition of “Secured Bank Product Provider” in the Credit Agreement is hereby amended by replacing “Borrower” with “Parent”.
SECTION 2.Effectiveness. Section 1 of this Agreement shall become effective on the date that the Administrative Agent shall have received this Agreement, duly executed by the Loan Parties, the Lenders constituting the Required Lenders and the Administrative Agent.
SECTION 3.Reference to and Effect on the Credit Agreement.
(a)On and after the effectiveness of this Agreement, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by, and after giving effect to, this Agreement.
(b)Each Loan Document, after giving effect to this Agreement, is and shall continue to be in full force and effect and is hereby in all respects ratified and confirmed, except that, on and after the effectiveness of this Agreement, each reference in each of the Loan Documents to the “Credit Agreement,” “thereunder,” “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by and after giving effect to, this Agreement. Nothing in this Agreement can or may be construed as a novation of the Credit Agreement or any other Loan Document. This Agreement shall apply and be effective only with respect to the provisions of the Credit Agreement specifically referred to herein.
(c)This Agreement is a “Loan Document” for purposes of the Credit Agreement and the other Loan Documents.
SECTION 4.Execution in Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by facsimile, .PDF or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement. The words “execution”, “signed”, “signature”, “delivery” and words of like import in or relating to this Agreement and/or any document to be signed in connection with this Agreement shall be deemed to include Electronic Signatures (as defined below), deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. “Electronic Signatures” means any electronic symbol or process attached to, or associated with, any contract or other record and adopted by a person with the intent to sign, authenticate or accept such contract or record.
SECTION 5.WAIVER OF JURY TRIAL; GOVERNING LAW; JURISDICTION, ETC. The provisions set forth in Sections 13.08 of the Credit Agreement are hereby incorporated herein mutatis mutandis with all references to “this Agreement” therein being deemed references to this Agreement.
[SIGNATURE PAGES FOLLOW]
-2-
IN WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be executed by their respective officers thereunto duly authorized, as of the date and year first written above.
ADIENT US LLC,
as Lead Borrower
as Lead Borrower
By: /s/ Brad Pilon
Name: Brad Pilon
Title: Authorized Person
Name: Brad Pilon
Title: Authorized Person
4871-9751-9184 v.5
Adient plc as a Loan Party | ||||||||
/s/ Gregory Scott Smith | ||||||||
Name: Gregory Scott Smith | ||||||||
Title: Chief Accounting Officer |
4871-9751-9184 v.5
ADIENT ELDON INC. | ||||||||
ADIENT SYSTEMS ENGINEERING LLC | ||||||||
ADIENT CLANTON INC. | ||||||||
ADIENT INC. | ||||||||
ADIENT HOLDING MEXICO LLC | ||||||||
ADIENT HOLDING BRAZIL LLC | ||||||||
ADIENT HOLDING SLOVAKIA LLC | ||||||||
ADIENT HOLDING TURKEY LLC | ||||||||
ADIENT HOLDING SOUTH AFRICA LLC | ||||||||
FUTURIS GLOBAL HOLDINGS, LLC | ||||||||
FUTURIS AUTOMOTIVE (NA) HOLDINGS INC. | ||||||||
FUTURIS AUTOMOTIVE (NA) INTERMEDIATE HOLDINGS INC. | ||||||||
FUTURIS AUTOMOTIVE (US) INC. | ||||||||
FUTURIS AUTOMOTIVE (CA) LLC | ||||||||
CNI ENTERPRISES, INC. | ||||||||
CNI-DULUTH, LLC | ||||||||
NICA, INC. | ||||||||
UNIVERSAL TRIM, INC. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Authorized Person | |||||||
4871-9751-9184 v.5
ADIENT US ENTERPRISES LIMITED PARTNERSHIP | ||||||||
By Adient Ltd, its general partner | ||||||||
By | /s/ Brad Pilon | |||||||
Name: | Brad Pilon | |||||||
Title: | Authorised Person |
4871-9751-9184 v.5
Adient Global Holdings S.à r.l., a Luxembourg corporation incorporated under the laws of the Grand Duchy of Luxembourg as a société à responsabilité limitée, with its registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des Sociétés, Luxembourg) under number B 214.737 | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Category A Manager authorized | |||||||
Adient Global Holdings Luxembourg S.à r.l., a Luxembourg corporation incorporated under the laws of the Grand Duchy of Luxembourg as a société à responsabilité limitée, with its registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des Sociétés, Luxembourg) under number B 214.747 | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Category A Manager authorized | |||||||
Adient Luxembourg Asia Holding S.à r.l., a Luxembourg corporation incorporated under the laws of the Grand Duchy of Luxembourg as a société à responsabilité limitée, with its registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des Sociétés, Luxembourg) under number B 208.006 | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Category A Manager authorized | |||||||
Adient Luxembourg Poland Holding S.à r.l., a Luxembourg corporation incorporated under the laws of the Grand Duchy of Luxembourg as a société à responsabilité limitée, with its registered office at 35F, Avenue John F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Register of Commerce and Companies (Registre de Commerce et des Sociétés, Luxembourg) under number B 204.878 | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Category A Manager authorized | |||||||
4871-9751-9184 v.5
Adient Holding Ireland Limited | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director |
Adient Global Holdings Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient International Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
4871-9751-9184 v.5
Adient Belgium BV, a private limited liability company (besloten vennootschap/société à responsabilité limitée) organised and existing under Belgian law, having its registered office at Paul Christiaenstraat 1, 9960 Assenede and registered under company number 0437.456.835 RLP Ghent, division Ghent. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
4871-9751-9184 v.5
Adient Sweden AB as a Loan Party | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Authorized Officer | |||||||
4871-9751-9184 v.5
ADIENT SEATING HOLDING SPAIN, S.L.U. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Joint and Several Director | |||||||
ADIENT SEATING SPAIN, S.L.U. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Joint and Several Director | |||||||
ADIENT AUTOMOTIVE, S.L.U. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Joint and Several Director | |||||||
ADIENT REAL ESTATE HOLDING SPAIN, S.L.U. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Joint and Several Director | |||||||
4871-9751-9184 v.5
Adient Seating Poland spółka z ograniczoną odpowiedzialnością, a Polish company with its registered office in Siemianowice Śląskie, at 93 Krupanka Street 41-100 Siemianowice Śląskie, entered into the register of entrepreneurs of the National Court Register, maintained by the District Court Katowice-Wschód in Katowice, VIII Commercial Division of the National Register Court, under the number KRS 0000236927, having the following numbers NIP: 5862148358 and REGON: 220066313 and a share capital of PLN 229,741,500.00. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Attorney-in-fact | |||||||
Adient Foam Poland spółka z ograniczoną odpowiedzialnością, a Polish company with its registered office in Żory, 6 Wygoda Street, 44-240 Żory, entered into the register of entrepreneurs of the National Court Register maintained by the District Court in Gliwice, X Commercial Division of the National Register Court, under the KRS number: 0000251430, having the following numbers NIP: 7010029670 and REGON: 140581505 and a share capital of PLN 15,229,000.00. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Attorney-in-fact | |||||||
Adient Poland spółka z ograniczoną odpowiedzialnością, a Polish company with its registered office in Świebodzin, at Zachodnia 78, 66-200 Świebodzin, entered into the register of entrepreneurs of the National Court Register, maintained by the District Court in Zielona Góra, VIII Commercial Division of the National Register Court, under the number KRS: 0000013213, having the following numbers NIP: 9271756246 and REGON: 971291505 and a share capital of PLN 3,465,000.00. | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Attorney-in-fact |
4871-9751-9184 v.5
Adient Seating UK Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient Properties UK Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient Holding Germany Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient Holding UK Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient Financing Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient Financing International Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
4871-9751-9184 v.5
Adient UK Financing Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient UK Financing International Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
Adient UK Global Financing Ltd | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip A. Rotman II | |||||||
Title: | Director | |||||||
4871-9751-9184 v.5
Adient Industries México S. de R.L. de C.V. | ||||||||
Adient Leasing México S. de R.L. de C.V. | ||||||||
Adient México S. de R.L. de C.V. | ||||||||
Adient México Automotriz S. de R.L. de C.V. | ||||||||
Adient México Holding S. de R.L. de C.V. | ||||||||
Adient Querétaro S. de R.L. de C.V. | ||||||||
Adient Shared Services México S. de R.L. de C.V. | ||||||||
Adient Servicios S. de R.L. de C.V. | ||||||||
Adient Subholding Leasing S. de R.L. de C.V. | ||||||||
Brena Mex S. de R.L. de C.V. | ||||||||
Ensamble de Interiores Automotrices México S. de R.L. de C.V. | ||||||||
Ensamble de Iteriores Automotrices, S. de R.L. de C.V., as Mexican Obligors | ||||||||
By: | /s/ Phillip A. Rotman II | |||||||
Name: | Phillip Allan Rotman II | |||||||
Title: | Attorney-in-fact |
[SIGNATURE PAGE — AMENDMENT AGREEMENT]
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
JPMORGAN CHASE BANK, N.A.,
as Administrative Agent
as Administrative Agent
By: /s/ Robert P. Kellas
Name: Robert P. Kellas
Title: Executive Director
Name: Robert P. Kellas
Title: Executive Director
JPMORGAN CHASE BANK, N.A.,
as a Lender and a U.S. Issuing Bank
as a Lender and a U.S. Issuing Bank
By: /s/ Robert P. Kellas
Name: Robert P. Kellas
Title: Executive Director
Name: Robert P. Kellas
Title: Executive Director
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
J.P. MORGAN SE,
as Swingline Lender
as Swingline Lender
By: /s/ Ralph Kimpel
Name: Ralph Kimpel
Title: Executive Director
Name: Ralph Kimpel
Title: Executive Director
J.P. MORGAN SE,
as Swingline Lender
as Swingline Lender
By: /s/ M. Holler
Name: M. Holler
Title: Vice President
Name: M. Holler
Title: Vice President
J.P. MORGAN SE,
as a Lender and a European Issuing Bank
as a Lender and a European Issuing Bank
By: /s/ Ralph Kimpel
Name: Ralph Kimpel
Title: Executive Director
Name: Ralph Kimpel
Title: Executive Director
J.P. MORGAN SE,
as a Lender and a European Issuing Bank
as a Lender and a European Issuing Bank
By: /s/ M. Holler
Name: M. Holler
Title: Vice President
Name: M. Holler
Title: Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
BANK OF AMERICA, N.A.,,
as a Lender
as a Lender
By: /s/ Kindra Mullarky
Name: Kindra Mullarky
Title: Senior Vice President
Name: Kindra Mullarky
Title: Senior Vice President
BANK OF AMERICA, N.A.,,
as an Issuing Bank
as an Issuing Bank
By: /s/ Kindra Mullarky
Name: Kindra Mullarky
Title: Senior Vice President
Name: Kindra Mullarky
Title: Senior Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY,
as a Lender
as a Lender
By: /s/ Paula Langridge
Name: Paula Langridge
Title: Senior Vice President
Name: Paula Langridge
Title: Senior Vice President
BANK OF AMERICA EUROPE DESIGNATED ACTIVITY COMPANY,
as an Issuing Bank
as an Issuing Bank
By: /s/ Paula Langridge
Name: Paula Langridge
Title: Senior Vice President
Name: Paula Langridge
Title: Senior Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
Citibank, N.A.,,
as a Lender and Issuing Bank
as a Lender and Issuing Bank
By: /s/ Shane Azzara
Name: Shane Azzara
Title: Vice President & Managing Director
Name: Shane Azzara
Title: Vice President & Managing Director
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,
as a Lender
as a Lender
By: /s/ Jill Wong
Name: Jill Wong
Title: Director
Name: Jill Wong
Title: Director
By: /s/ Gordon Yip
Name: Gordon Yip
Title: Director
Name: Gordon Yip
Title: Director
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,
as an Issuing Bank
as an Issuing Bank
By: /s/ Jill Wong
Name: Jill Wong
Title: Director
Name: Jill Wong
Title: Director
By: /s/ Gordon Yip
Name: Gordon Yip
Title: Director
Name: Gordon Yip
Title: Director
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
Barclays Bank PLC,
as a Lender
as a Lender
By: /s/ Charlene Saldanha
Name: Charlene Saldanha
Title: Vice President
Name: Charlene Saldanha
Title: Vice President
Barclays Bank PLC,
as a U.S. Issuing Bank
as a U.S. Issuing Bank
By: /s/ Charlene Saldanha
Name: Charlene Saldanha
Title: Vice President
Name: Charlene Saldanha
Title: Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
Barclays Bank Ireland PLC,
as a Lender
as a Lender
By: /s/ Mark Pope
Name: Mark Pope
Title: Assistant Vice President
Name: Mark Pope
Title: Assistant Vice President
Barclays Bank Ireland PLC,
as a European Issuing Bank
as a European Issuing Bank
By: /s/ Mark Pope
Name: Mark Pope
Title: Assistant Vice President
Name: Mark Pope
Title: Assistant Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
MUFG Bank Ltd.,
as a Lender
as a Lender
By: /s/ Paul M. Angland
Name: Paul M. Angland
Title: Director
Name: Paul M. Angland
Title: Director
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
U.S. BANK NATIONAL ASSOCIATION,
as a Lender
as a Lender
By: /s/ William Patton
Name: William Patton
Title: Vice President
Name: William Patton
Title: Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
ING Capital LLC.,
as a Lender
as a Lender
By: /s/ Jeff Chu
Name: Jeff Chu
Title: Director
Name: Jeff Chu
Title: Director
By: /s/ Michael Chen
Name: Michael Chen
Title: Director
Name: Michael Chen
Title: Director
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
KeyBank National Association,
as a Lender
as a Lender
By: /s/ Brian D. O’Keefe
Name: Brian D. O’Keefe
Title: Vice President
Name: Brian D. O’Keefe
Title: Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
Truist Bank,
as a Lender
as a Lender
By: /s/ Terry B. Snider
Name: Terry B. Snider
Title: Vice President
Name: Terry B. Snider
Title: Vice President
[SIGNATURE PAGE – AMENDMENT AGREEMENT]
KBC Bank NV, New York Branch,
as a Lender
as a Lender
By: /s/ Nicholas Philippides
Name: Nicholas Philippides
Title: Vice President
Name: Nicholas Philippides
Title: Vice President
By: /s/ Susan Silver
Name: Susan Silver
Title: Managing Director
Name: Susan Silver
Title: Managing Director
[SIGNATURE PAGE – AMENDMENT AGREEMENT]