ADDITIONALSECURED PARTY CONSENT
Exhibit 10.1
Execution Version
ADDITIONAL SECURED PARTY CONSENT
May 12, 2017
Wilmington Trust, National Association
50 South Sixth Street, Suite 1290
Minneapolis, MN 55402
Attention: Hexion Administrator
The undersigned is the Authorized Representative for persons wishing to become Secured Parties (the New Secured Parties) under the Collateral Agreement, dated as of March 28, 2013 (as amended, supplemented or otherwise modified from time to time, the Collateral Agreement), among HEXION INC., a New Jersey corporation (the Company), as issuer, each Subsidiary Party (as defined therein) party thereto and WILMINGTON TRUST, NATIONAL ASSOCIATION, as collateral agent (in such capacity, together with its successors and assigns in such capacity, the Collateral Agent). Capitalized terms in this Additional Secured Party Consent but not otherwise defined herein have the meanings set forth in the Collateral Agreement.
In consideration of the foregoing, the undersigned hereby:
(i) represents that it has been duly authorized to act as the Authorized Representative for the New Secured Parties under that certain Second Supplemental Indenture, dated as of the date hereof (the Supplemental Indenture), by and among Wilmington Trust, National Association, as trustee (the Trustee), the Company, as issuer and the guarantors party thereto from time to time, which Supplemental Indenture amends and supplements that certain Indenture, dated as of February 8, 2017 (as supplemented by the Supplemental Indenture and as the same may be further amended, supplemented or otherwise modified from time to time, the New First Lien Indenture), among the Issuer, after giving effect to the Issuers Assumption (as defined in the New First Lien Indenture), the guarantors party thereto from time to time and the Trustee (the obligations of the Issuer and the guarantors under the Supplemental Indenture, the Additional Secured Obligations) under each of the Collateral Agreement and the First Lien Intercreditor Agreement;
(ii) acknowledges that it has received a copy of the Collateral Agreement and the First Lien Intercreditor Agreement;
(iii) appoints and authorizes the Collateral Agent to take such action as agent on its behalf and on behalf of all other New Secured Parties and to exercise such powers under the Collateral Agreement as are delegated to the Collateral Agent by the terms thereof, together with all such powers as are reasonably incidental thereto; and
(iv) accepts and acknowledges the terms of the Collateral Agreement applicable to it and the New Secured Parties and agrees to serve as Authorized Representative for the New Secured Parties with respect to the Additional Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties to be bound by the terms of the Collateral Agreement applicable to holders of Other First Priority Obligations, with all the rights and obligations of a Secured Party thereunder and bound by all the provisions thereof as fully as if it had been a Secured Party on the effective date of the Collateral Agreement.
The Collateral Agent, by acknowledging and agreeing to this Additional Secured Party Consent, accepts the appointment set forth in clause (iii) above.
The name and address of the Authorized Representative for purposes of Section 6.01 of the Collateral Agreement are as follows:
Wilmington Trust, National Association
Global Capital Markets
50 South Sixth Street
Suite 1290
Minneapolis, Minnesota 55402
Telephone: 612 ###-###-####
Facsimile: 612 ###-###-####
Attention: Hexion Administrator
THIS ADDITIONAL SECURED PARTY CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
[Remainder of page intentionally left blank; signature pages follow.]
IN WITNESS WHEREOF, the undersigned has caused this Additional Secured Party Consent to be duly executed by its authorized officer as of the date set forth above.
WILMINGTON TRUST, NATIONAL ASSOCIATION, as Authorized Representative for the New Secured Parties | ||||
By: | /s/ Jane Schweiger | |||
Name: | Jane Schweiger | |||
Title: | Vice President |
Acknowledged and Agreed:
WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Agent | ||||
By: | /s/ Jane Schweiger | |||
Name: | Jane Schweiger | |||
Title: | Vice President | |||
WILMINGTON TRUST, NATIONAL ASSOCIATION, as Authorized Representative for the Notes Obligations | ||||
By: | /s/ Jane Schweiger | |||
Name: | Jane Schweiger | |||
Title: | Vice President |
[Signature Page to Additional Secured Party Consent]
WILMINGTON TRUST, NATIONAL ASSOCIATION, | ||||
as Authorized Representative for the Initial Other First Priority Obligations | ||||
By: | /s/ Jane Schweiger | |||
Name: | Jane Schweiger | |||
Title: | Vice President |
[Signature Page to Additional Secured Party Consent]
HEXION INC. | ||
By: | /s/ Mark D. Bidstrup | |
Name: | Mark D. Bidstrup | |
Title: | Senior Vice President and Treasurer | |
Guarantors: | ||
HSC CAPITAL CORPORATION | ||
LAWTER INTERNATIONAL INC. | ||
OILFIELD TECHNOLOGY GROUP, INC. | ||
HEXION INTERNATIONAL INC. | ||
HEXION INVESTMENTS INC. | ||
NL COOP HOLDINGS LLC | ||
By: | /s/ Mark D. Bidstrup | |
Name: | Mark D. Bidstrup | |
Title: | Senior Vice President and Treasurer | |
HEXION CI HOLDING COMPANY (CHINA) LLC, | ||
By: Lawter International Inc., as sole managing member | ||
By: | /s/ Mark D. Bidstrup | |
Name: | Mark D. Bidstrup | |
Title: | Senior Vice President and Treasurer |
[Signature Page to Additional Secured Party Consent]