Amendment No. 1, dated as of December 20, 2019, to Credit Agreement, dated as of March 23, 2018, among nVent Electric plc, nVent Finance S. r.l., Hoffman Schroff Holdings, Inc. (formerly known as Pentair Technical Products Holdings, Inc) and the lenders and agents party thereto
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EX-4.6 2 ex46nventamendmentno1to2.htm EXHIBIT 4.6 ex46nventamendmentno1to2
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Exhibit 4.6 EXECUTION COPY AMENDMENT NO. 1 Dated as of December 20, 2019 to CREDIT AGREEMENT Dated as of March 23, 2018 THIS AMENDMENT NO. 1 (this “Amendment”) is made as of December 20, 2019 by and among nVent Finance S.à r.l., a Luxembourg private limited liability company (Société à responsabilité limitée) having its registered office at 26, Boulevard Royal, L-2449 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Companies Register (Registre de commerce et des sociétés, Luxembourg) under number B219846 (the “Company”), nVent Electric plc, an Irish public limited company (the “Parent”), and Hoffman Schroff Holdings, Inc. (formerly known as Pentair Technical Products Holdings, Inc.), a Delaware corporation (the “Affiliate Borrower”, collectively with the Company and the Parent, the “Loan Parties”), the Lenders party hereto and JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders (the “Administrative Agent”), under that certain Credit Agreement dated as of March 23, 2018, by and among the Loan Parties, the Lenders from time to time party thereto and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. WHEREAS, the Loan Parties have requested that the Required Lenders agree to make certain modifications to the Credit Agreement; WHEREAS, the Loan Parties, the Lenders party hereto and the Administrative Agent have agreed to amend the Credit Agreement on the terms and conditions set forth herein; NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Loan Parties, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment. 1. Amendments to the Credit Agreement. Effective as of the date of satisfaction of the conditions precedent set forth in Section 2 below (such date, the “Amendment Effective Date”), the parties hereto agree that the Credit Agreement shall be amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Credit Agreement attached as Annex A hereto (the Credit Agreement as so amended, the “Amended Credit Agreement”). 2. Conditions of Effectiveness. This Amendment shall become effective as of the first date on which each of the following conditions shall have been satisfied: (a) The Administrative Agent (or its counsel) shall have received either US-DOCS\111992278.5
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(A) counterparts of this Amendment duly executed by each of the Loan Parties, the Required Lenders and the Administrative Agent or (B) written evidence satisfactory to the Administrative Agent (which may include facsimile or electronic transmission of an executed signature page of this Amendment) that such parties have executed counterparts of this Amendment. (b) (i) The Administrative Agent shall have received, at least five (5) days prior to the Amendment Effective Date, all documentation and other information regarding any Borrower requested in connection with applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act, to the extent requested in writing of the Company at least ten (10) days prior to the Amendment Effective Date and (ii) to the extent any Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, at least five (5) days prior to the Amendment Effective Date, any Lender that has requested, in a written notice to the Company at least ten (10) days prior to the Amendment Effective Date, a Beneficial Ownership Certification in relation to such Borrower shall have received such Beneficial Ownership Certification (provided that, upon the execution and delivery by such Lender of its signature page to this Amendment, the condition set forth in this clause (b) shall be deemed to be satisfied). (c) The Administrative Agent shall have received payment and/or reimbursement of the Administrative Agent’s and its affiliates’ fees and expenses (including the reasonable, documented and invoiced fees, disbursements and other charges of one primary counsel (and one additional local counsel in each applicable jurisdiction) for the Administrative Agent) in accordance with the Loan Documents. The Administrative Agent shall notify the Company and the Lenders of the Amendment Effective Date, and such notice shall be conclusive and binding. 3. Representations and Warranties of the Loan Parties. Each Loan Party hereby represents and warrants as follows: (a) Each of this Amendment and the Amended Credit Agreement constitutes a valid and binding agreement of each Loan Party enforceable against the applicable Loan Parties in accordance with its terms, except to the extent that the enforceability thereof may be limited by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws now or hereafter affecting creditors’ rights generally, any mandatory applicable provisions of Luxembourg law of general application and general principles of equity. (b) As of the date hereof and immediately after giving effect to the terms of this Amendment, (i) no Default has occurred and is continuing and (ii) the representations and warranties of the Borrowers set forth in the Credit Agreement (other than the representations contained in Sections 3.04(b) and 3.05 of the Credit Agreement) are true and correct in all material respects (provided that any representation or warranty that is qualified by materiality or Material Adverse Effect is true and correct in all respects), or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date. 4. Confirmation of Guarantees. The Parent, by its execution of this Amendment, hereby consents to this Amendment and confirms and ratifies that all of its obligations as a Guarantor under the Amended Credit Agreement shall continue in full force and effect for the benefit of the Administrative Agent and the Lenders with respect to the Amended Credit Agreement and, for the avoidance of doubt, acknowledges and agrees and confirms that the Term Loans made by the Term Lenders to the Company on the Amendment Effective Date are part of the “Guaranteed Obligations” that are guaranteed by the Parent under the Amended Credit Agreement. 2
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5. Reference to and Effect on the Credit Agreement. (a) From and after the effectiveness of the amendment to the Credit Agreement evidenced hereby, the terms “Agreement”, “this Agreement”, “herein”, “hereinafter”, “hereto”, “hereof” and words of similar import, as used in the Amended Credit Agreement, shall, unless the context otherwise requires, refer to the Amended Credit Agreement, and the term “Credit Agreement”, as used in the other Loan Documents, shall mean the Amended Credit Agreement. (b) Each Loan Document and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection therewith. (d) This Amendment shall be a Loan Document. 6. Governing Law; Jurisdiction. This Amendment shall be construed in accordance with and governed by the law of the State of New York. Each Loan Party hereby irrevocably and unconditionally submits, for itself and its property, to only the jurisdiction of (i) the Supreme Court of the State of New York sitting in New York County, Borough of Manhattan, and of the United States District Court for the Southern District of New York sitting in the Borough of Manhattan and (ii) any U.S. federal or Illinois state court sitting in Chicago, Illinois, and in each case any appellate court from any thereof, in any action or proceeding arising out of or relating to any Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Amendment or any other Loan Document shall affect any right that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Amendment or any other Loan Document against any Loan Party or its properties in the courts of any jurisdiction. 7. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 8. Counterparts. This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, e-mailed .pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment. [Signature Pages Follow] 3
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ANNEX A Attached
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EXECUTIONCOP CREDITAGREEMENT datedasof March23,2018 among NVENTELECTRICplc asParent, NVENTFINANCES.R.L. asCompany, PENTAIRTECHNICALPRODUCTSHOFFMANSCHROFFHOLDINGS,INC. asanAffiliateBorrower TheOtherAffiliateBorrowersFromTimetoTimePartyHereto, TheLendersPartyHereto, JPMORGANCHASEBANK,N.A. asAdministrativeAgent, BANKOFAMERICA,N.A. THEMUFGBANKOFTOKO-MITSUBISHIUFJ,LTD. CITIBANK,N.A.and U.S.BANKNATIONALASSOCIATION asSyndicationAgents, and GOLDMANSACHSBANKUSA WELLSFARGOBANK,NATIONALASSOCIATION HSBCBANKUSA,NATIONALASSOCIATIONand DEUTSCHEBANKSECURITIESINC. asDocumentationAgents JPMORGANCHASEBANK,N.A. MERRILLLNCH,PIERCE,FENNERSMITHINCORPORATED THEMUFGBANKOFTOKO-MITSUBISHIUFJ,LTD. CITIGROUPGLOBALMARKETSINC.and U.S.BANKNATIONALASSOCIATION US-DOCS\111991625.1111991625.6
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TABLEOFCONTENTS Page ARTICLEI.DEFINITIONS 5 SECTION1.01 DefinedTerms 5 SECTION1.02 ClassificationofLoansandBorrowings 3637 SECTION1.03 TermsGenerally 3637 SECTION1.04 AccountingTermsGAAP 3637 SECTION1.05 InterestRates 3738 SECTION1.06 LuxembourgTerms 3738 SECTION1.07 CertainCalculations 3738 SECTION1.08 Divisions 39 ARTICLEII.THECREDITS 3839 SECTION2.01 Commitments 3839 SECTION2.02 LoansandBorrowings 3839 SECTION2.03 RequestsforBorrowings 3940 SECTION2.04 DeterminationofDollarAmounts 3941 SECTION2.05 SwinglineLoans 4041 SECTION2.06 LettersofCredit 4143 SECTION2.07 FundingofBorrowings 4748 SECTION2.08 InterestElections 4849 SECTION2.09 TerminationandReductionofCommitments 4950 SECTION2.10 RepaymentandAmortiationofLoansEvidenceofIndebtedness 5051 SECTION2.11 PrepaymentofLoans 5152 SECTION2.12 Fees 5253 SECTION2.13 Interest 5354 SECTION2.14 AlternateRateofInterest 5556 SECTION2.15 IncreasedCosts 5657 SECTION2.16 BreakFundingPayments 5859 SECTION2.17 Taxes 5859 SECTION2.18 PaymentsGenerallyProRataTreatmentSharingofSet-offs 6566 SECTION2.19 MitigationObligationsReplacementofLenders 6768 SECTION2.20 ExpansionOption 6869 SECTION2.21 MarketDisruption 6970 SECTION2.22 JudgmentCurrency 7071 SECTION2.23 DesignationofAffiliateBorrowers 7071 SECTION2.24 DefaultingLenders 7072 SECTION2.25 ExtensionofMaturityDate. 7274 ARTICLEIII.REPRESENTATIONSANDWARRANTIES 7576 SECTION3.01 CorporateExistenceandPower. 7576 SECTION3.02 CorporateandGovernmentalAuthoriationContravention. 7576 SECTION3.03 BindingEffect. 7576 SECTION3.04 FinancialInformation 7576 SECTION3.05 Litigation,etc. 7677 SECTION3.06 ERISACompliance. 7677 SECTION3.07 Taxes. 7677 SECTION3.08 NotanInvestmentCompany. 7677
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SECTION3.09 EnvironmentalMatters 7677 SECTION3.10 UseofProceeds. 7677 SECTION3.11 Disclosure. 7677 SECTION3.12 Anti-CorruptionLawsandSanctions. 7778 SECTION3.13 DomiciliationCentreofMainInterests 7778 SECTION3.14 SwissNon-BankRules 78 SECTION3.15 EEAFinancialInstitutions 7879 SECTION3.16 IrishLoanParty 7879 SECTION3.17 TaxResidence 7879 ARTICLEIV.CONDITIONS 7879 SECTION4.01 EffectiveDate 7879 SECTION4.02 ClosingDate 7980 SECTION4.03 EachCreditEvent 8081 SECTION4.04 DesignationofanAffiliateBorrower 8182 ARTICLEV.AFFIRMATIVECOVENANTS 8283 SECTION5.01 Information. 8283 SECTION5.02 UseofProceeds 8485 SECTION5.03 CompliancewithContractualObligationsandLaws 8485 SECTION5.04 Insurance. 8485 SECTION5.05 OwnershipofBorrowers. 8485 SECTION5.06 PaymentofTaxes 8485 SECTION5.07 SwissNon-BankRule 8586 SECTION5.08 LoanPartyLocation 8586 SECTION5.09 TaxResidence 8586 SECTION5.10 ServiceofProcessAgent 8586 ARTICLEVI.NEGATIVECOVENANTS 8586 SECTION6.01 MaximumNetLeverageRatio 8586 SECTION6.02 MinimumInterestCoverageRatio 8687 SECTION6.03 NegativePledge. 8687 SECTION6.04 Consolidations,MergersandSalesofAssetsAcquisitions. 8889 SECTION6.05 SubsidiaryDebt. 8889 SECTION6.06 OFACandAnti-CorruptionLaws 8990 ARTICLEVII.EVENTSOFDEFAULT 9091 ARTICLEVIII.THEADMINISTRATIVEAGENT 9394 SECTION8.01 AuthoriationandAction 9394 SECTION8.02 AdministrativeAgentsReliance,Indemnification,Etc 9596 SECTION8.03 PostingofCommunications. 9697 SECTION8.04 TheAdministrativeAgentIndividually 9798 SECTION8.05 SuccessorAdministrativeAgent 9798 SECTION8.06 AcknowledgementofLendersandIssuingBanks. 9899 SECTION8.07 CertainERISAMatters 9899 ARTICLEIX.MISCELLANEOUS 100101 SECTION9.01 Notices 100101 SECTION9.02 WaiversAmendments 102103 SECTION9.03 ExpensesIndemnityDamageWaiver 104105
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SECTION9.04 SuccessorsandAssigns 105106 SECTION9.05 Survival 110111 SECTION9.06 CounterpartsIntegrationEffectivenessElectronicExecution 110111 SECTION9.07 Severability 111112 SECTION9.08 RightofSetoff 111112 SECTION9.09 GoverningLawJurisdictionConsenttoServiceofProcess 111112 SECTION9.10 WAIVEROFJURTRIAL 112113 SECTION9.11 Headings 113114 SECTION9.12 Confidentiality 113114 SECTION9.13 USAPATRIOTAct 114115 SECTION9.14 InterestRateLimitation 114115 SECTION9.15 NoFiduciaryDuty,etc 114115 SECTION9.16 AcknowledgementandConsenttoBail-InofEEAFinancialInstitutions115116 SECTION9.17 ConfirmationofLendersStatusasSwissQualifyingLender 116 SECTION9.18 AcknowledgementRegardingSupportedQFCs 117 ARTICLEX.PARENTGUARANTEE 116117 SCHEDULES: Schedule2.01 -- Commitments Schedule2.05 -- SwinglineSublimits Schedule6.03 -- ListofExistingLiens Schedule6.05 -- ExistingDebt EXHIBITS: ExhibitA -- FormofAssignmentandAssumption ExhibitB-1 -- FormofOpinionofFoleyLardnerLLP ExhibitB-2 -- FormofOpinionofArthurCox ExhibitB-3-- FormofOpinionofAllenOvery ExhibitC-1 -- FormofIncreasingLenderSupplement ExhibitC-2-- FormofAugmentingLenderSupplement ExhibitD-1 -- FormofRevolvingCreditNote ExhibitD-2 -- FormofTermLoanNote ExhibitE -- ListofEffectiveDateandClosingDateDocuments ExhibitF-1 -- FormofAffiliateBorrowingAgreement ExhibitF-2 -- FormofAffiliateBorrowingTermination ExhibitG-1 -- FormofBorrowingRequest ExhibitG-2 -- FormofInterestElectionRequest ExhibitsH-1-4 -- FormofU.S.TaxComplianceCertificates ExhibitI -- FormofIrishQualifyingLenderConfirmation
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CREDIT AGREEMENT (this “Agreement dated as of March 23, 2018 among NVENT ELECTRICplc,anIrishpubliclimitedcompany,NVENTFINANCES.R.L.,aLuxembourgprivate limitedliabilitycompany(Société à responsabilité limitéehavingitsregisteredofficeat26,boulevard Royal,L-2449LuxembourgandregisteredwiththeLuxembourgTradeandCompaniesRegisterunder numberB219846,theotherAFFILIATEBORROWERSfromtimetotimepartyhereto,theLENDERS fromtimetotimepartyhereto,JPMORGANCHASEBANK,N.A.,asAdministrativeAgent,BANKOF AMERICA, N.A., THEMUFG BANK OF TOKO-MITSUBISHI UFJ, LTD. (f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd., CITIBANK, N.A. and U.S. BANK NATIONAL ASSOCIATION, as Syndication Agents and GOLDMAN SACHS BANK USA, WELLS FARGO BANK, NATIONAL ASSOCIATION, HSBC BANK USA, NATIONAL ASSOCIATION and DEUTSCHE BANK SECURITIESINC.,asDocumentationAgents. NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein,thepartiesheretoagreeasfollows: ARTICLEI. DEFINITIONS SECTION1.01 Defined Terms. As used in this Agreement, the following terms have the meaningsspecifiedbelow: “ABR,whenused inreferencetoanyLoanorBorrowing,referstosuchLoan,ortheLoans comprisingsuchBorrowing,bearinginterestataratedeterminedbyreferencetotheAlternateBaseRate. “Acquisitionmeansanytransactionorseriesofrelatedtransactions(excludinganytransaction solelyamongtheParentand/oroneormorepersonsthatarealreadySubsidiariesthatresult,directlyor indirectly,in(atheacquisitionbytheParentoranySubsidiaryofallorsubstantiallyalloftheassetsofa Person,orofallorsubstantiallyallofanybusinessordivisionofaPerson,(btheacquisitionofinexcess of 50% of the capital stock, partnership interests, membership interests or equity of any Person, or otherwise causing any Person to become a Subsidiary, or (c a merger or consolidation or any other combinationwithanotherPersonprovidedthattheParentoraSubsidiaryistheultimatesurvivingentity. “AdditionalCommitmentLenderhasthemeaningassignedtosuchterminSection2.25(d. “Adjusted LIBO Rate means, with respect to any Eurocurrency Borrowing for any Interest Period,aninterestrateperannumequalto(atheLIBORateforsuchInterestPeriodmultipliedby(bthe StatutoryReserveRate. “AdministrativeAgentmeansJPMCB(includingitsbranchesandaffiliatesinitscapacityas administrative agent for the Lenders hereunder, and any successor administrative agent arising under Section9.04. “AdministrativeQuestionnairemeansanAdministrativeQuestionnaireinaformsuppliedbythe AdministrativeAgent. “Affiliatemeans,astoanyPerson,anyotherPersondirectlyorindirectlycontrolling,controlled by, or under direct or indirect common control with, such Person. A Person shall be deemed to be “controlledbyanyotherPersonifsuchotherPersonpossesses,directlyorindirectly,powertodirector causethedirectionofthemanagementandpoliciesofsuchPersonwhetherbycontractorotherwise(but,
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fortheavoidanceofdoubt,noindividualshallbedeemedtobeanAffiliateofaPersonsolelybecause suchindividualisadirector(ortheequivalentthereoforseniorofficerofsuchPerson. “AffiliateBorrowerSublimitmeans$300,000,000. “Affiliate Borrowers means, collectively, the Initial Affiliate Borrower and any Eligible SubsidiarythatbecomesanAffiliateBorrowerpursuanttoSection2.23and,ineachcase,thathasnot ceasedtobeanAffiliateBorrowerand“AffiliateBorrowermeansanyoftheAffiliateBorrowers. “AffiliateBorrowingAgreementmeansanAffiliateBorrowingAgreementsubstantiallyinthe formofExhibitF-1. “AffiliateBorrowingTerminationmeansanAffiliateBorrowingTerminationsubstantiallyinthe formofExhibitF-2. “AgentIndemniteehasthemeaningassignedtoitinSection9.03(c. “AgreedCurrenciesmeanswithrespectto(aRevolvingLoans,AgreedLoanCurrenciesand (bLettersofCredit,AgreedLCCurrencies. “AgreedLCCurrenciesmeans(atheAgreedLoanCurrenciesand(banyothercurrencythatis (i readily available and freely transferable and convertible into Dollars and (ii agreed to by the Company,theAdministrativeAgentandtherelevantIssuingBank. “AgreedLoanCurrenciesmeans(iDollars,(iieuro,(iiiPoundsSterlingand(ivanyother currency(Athatisalawfulcurrency(otherthanDollarsthatisreadilyavailableandfreelytransferable and convertible into Dollars, (B for which a LIBOR Screen Rate is available in the Administrative Agentsreasonabledeterminationand(CthatisagreedtobytheAdministrativeAgentandeachofthe RevolvingLenders. “AgreementmeansthisCreditAgreement. “AlternateBaseRatemeans,foranyday,arateperannumequaltothegreatestof(athePrime Rateineffectonsuchday,(btheNFRBRateineffectonsuchdayplusof1%and(ctheAdjusted LIBORateforaonemonthInterestPeriodinDollarsonsuchday(orifsuchdayisnotaBusinessDay, theimmediatelyprecedingBusinessDayplus1%,providedthatforthepurposeofthisdefinition,the AdjustedLIBORateforanydayshallbebasedontheLIBORate(oriftheLIBORateisnotavailablefor suchonemonthInterestPeriod,theInterpolatedRateatapproximately11:00a.m.Londontimeonsuch day.AnychangeintheAlternateBaseRateduetoachangeinthePrimeRate,theNFRBRateorthe AdjustedLIBORateshallbeeffectivefromandincludingtheeffectivedateofsuchchangeinthePrime Rate,theNFRBRateortheAdjustedLIBORate,respectively.IftheAlternateBaseRateisbeingused asanalternaterateofinterestpursuanttoSection2.14hereof,thentheAlternateBaseRateshallbethe greaterofclause(aand(baboveandshallbedeterminedwithoutreferencetoclause(cabove.Forthe avoidanceofdoubt,iftheAlternateBaseRateassodeterminedwouldbelessthanero,suchrateshallbe deemedtobeeroforpurposesofthisAgreement. “AlternativeRatehasthemeaningassignedtosuchterminSection2.14(a. “AmendmentNo.1EffectiveDatemeansDecember20,2019. 7
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“Anti-CorruptionLawsmeansalllaws,rules,andregulationsofanyjurisdictionapplicableto theParentanditsaffiliatedcompaniesconcerningorrelatingtobriberyorcorruption. “ApplicableLCSublimitmeans(iwithrespecttoJPMCBinitscapacityasanIssuingBank under this Agreement, $40,000,000, (ii with respect to Bank of America, N.A. in its capacity as an Issuing Bank under this Agreement, $40,000,000, (iii with respect to TheMUFG Bank of Tokyo- MitsubishiUFJ,Ltd.initscapacityasanIssuingBankunderthisAgreement,$40,000,000,(ivwith respecttoCitibank,N.A.initscapacityasanIssuingBankunderthisAgreement,$40,000,000,(vwith respect to U.S. Bank National Association in its capacity as an Issuing Bank under this Agreement, $40,000,000and(viwithrespecttoanyotherPersonthatbecomesanIssuingBankpursuanttotheterms ofthisAgreement,suchamountasagreedtoinwritingbytheCompany,theAdministrativeAgentand suchPersonatthetimesuchPersonbecomesanIssuingBankpursuanttothetermsoftheAgreement,as eachoftheforegoingamountsmaybedecreasedorincreasedfromtimetotimewiththewrittenconsent of the Company, the Administrative Agent and the Issuing Banks (provided that any increase in the ApplicableLCSublimitwithrespecttoanyIssuingBankshallonlyrequiretheconsentoftheCompany andsuchIssuingBank. “ApplicableMaturityDatehasthemeaningassignedtosuchterminSection2.25(a. “ApplicablePercentagemeans,withrespecttoanyLender,(awithrespecttoRevolvingLoans, Revolving Credit Exposure, LC Exposure or Swingline Loans, the percentage equal to a fraction the numerator of which is such Lenders Revolving Commitment and the denominator of which is the aggregate Revolving Commitments of all Revolving Lenders (if the Revolving Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Revolving Commitmentsmostrecentlyineffect,givingeffecttoanyassignmentsand(bwithrespecttotheTerm Loans,(iatanytimepriortoadvancingtheTermLoans,apercentageequaltoafractionthenumerator ofwhichissuchLendersTermLoanCommitmentandthedenominatorofwhichistheaggregateTerm Loan Commitments of all Term Lenders and (ii at any time after advancing the Term Loans, a percentageequaltoafractionthenumeratorofwhichissuchLendersoutstandingprincipalamountof theTermLoansandthedenominatorofwhichistheaggregateoutstandingprincipalamountoftheTerm LoansofallTermLendersprovidedthat,inthecaseofeachoftheforegoingclauses(aand(b,inthe case of Section2.24 when a Defaulting Lender shall exist, any such Defaulting Lenders Revolving Commitment, Dollar and/or Term Loan Commitment, as applicable, shall be disregarded in the calculation. “ApplicableRatemeans,foranyday,withrespecttoanyEurocurrencyRevolvingLoan,any Eurocurrency Term Loan, any ABR Revolving Loan, or any ABR TermLoan, or with respect to the facilityfeespayablehereunder,asthecasemaybe,theapplicablerateperannumsetforthbelowunder thecaption“EurocurrencySpreadforRevolvingLoans,“EurocurrencySpreadforTermLoans,“ABR SpreadforRevolvingLoans,“ABRSpreadforTermLoansor“FacilityFeeRate,asthecasemaybe, baseduponthePricingLevelapplicableonsuchdate. Pricing Facility Eurocurrency ABR Eurocurrency ABR Level Fee Spreadfor Spreadfor Spreadfor Spreadfor RevolvingLoans RevolvingLoans TermLoans TermLoans LevelI 0.10% 0.90% 0% 1.00% 0% LevelII 0.125% 1.00% 0% 1.125% 0.125% LevelIII 0.15% 1.10% 0.10% 1.25% 0.25% 8
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“Approved Jurisdictions means Ireland, Switerland, Luxembourg, the United States and EnglandandWales. “ArrangersmeanseachofJPMCB,MerrillLynch,Pierce,FennerSmithIncorporated,MUFG Bank,Ltd.(f/k/aTheBankofTokyo-MitsubishiUFJ,Ltd.,CitigroupGlobalMarketsInc.andU.S. BankNationalAssociationinitscapacityasajointbookrunnerandjointleadarrangerhereunder. “AssignmentandAssumptionmeansanassignmentandassumptionagreemententeredintobya Lenderandanassignee(withtheconsentofanypartywhoseconsentisrequiredbySection9.04,and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the AdministrativeAgent. “AugmentingLenderisdefinedinSection2.20. “AvailabilityPeriodmeanstheperiodfromandincludingtheClosingDatetobutexcludingthe earlieroftheRevolvingCreditMaturityDateandthedateofterminationoftheRevolvingCommitments. “Bail-In Action means the exercise of any Write-Down and Conversion Powers by the applicableEEAResolutionAuthorityinrespectofanyliabilityofanEEAFinancialInstitution. “Bail-InLegislationmeans,withrespecttoanyEEAMemberCountryimplementingArticle55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementinglawforsuchEEAMemberCountryfromtimetotimewhichisdescribedintheEUBail-In LegislationSchedule. “BankingServicesmeanseachandanyofthefollowingbankservicesprovidedtotheParentor any Subsidiary by any Lender or any of its Affiliates: (a credit cards for commercial customers (including,withoutlimitation,commercialcreditcardsandpurchasingcards,(bstoredvaluecards,(c merchant processing services and (d treasury management services (including, without limitation, controlleddisbursementservices,automatedclearinghousetransactions,returnitemsservices,anydirect debitschemeorarrangement,overdraftservicesandinterstatedepositorynetworkservices. “Banking Services Agreement means any agreement entered into by the Parent or any SubsidiaryinconnectionwithBankingServices. “BankruptcyEventmeans,withrespecttoanyPerson,suchPersonbecomesthesubjectofa voluntaryorinvoluntarybankruptcyorinsolvencyproceeding,orhashadareceiver,conservator,trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganiationorliquidationofitsbusinessappointedforit,or,inthegoodfaithdeterminationofthe AdministrativeAgent,hastakenanyactioninfurtheranceof,orindicatingitsconsentto,approvalof,or acquiescencein,anysuchproceedingorappointmentorhashadanyorderforreliefinsuchproceeding entered in respect thereof, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authorityorinstrumentalitythereof,unlesssuchownershipinterestresultsinorprovidessuchPerson with immunity from the jurisdiction of courts within the United States or from the enforcement of judgmentsorwritsofattachmentonitsassetsorpermitssuchPerson(orsuchGovernmentalAuthorityor instrumentality to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 11
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“BeneficialOwnershipCertificationmeansacertificationregardingbeneficialownership orcontrolasrequiredbytheBeneficialOwnershipRegulation. “BeneficialOwnershipRegulationmeans31C.F.R.1010.230. “Benefit Plan means any of (a an “employee benefit plan (as defined in Section 3(3 of ERISAthatissubjecttoTitleIofERISA,(ba“planasdefinedinSection4975oftheCodetowhich Section4975oftheCodeapplies,and(canyPersonwhoseassetsinclude(forpurposesofthePlanAsset RegulationsorotherwiseforpurposesofTitleIofERISAorSection4975oftheCodetheassetsofany such“employeebenefitplanor“plan. “BHCActAffiliateofapartymeansan“affiliate(assuchtermisdefinedunder,and interpretedinaccordancewith,12U.S.C.1841(kofsuchparty. “BoardmeanstheBoardofGovernorsoftheFederalReserveSystemoftheUnitedStates. “BorrowermeanstheCompanyoranyAffiliateBorrower. “Borrowingmeans(aRevolvingLoansofthesameType,made,convertedorcontinuedonthe samedateand,inthecaseofEurocurrencyLoans,astowhichasingleInterestPeriodisineffect,(ba TermLoanofthesameTypeandClass,made,convertedorcontinuedonthesamedateand,inthecase ofEurocurrencyLoans,astowhichasingleInterestPeriodisineffector(caSwinglineLoan. “Borrowing Request means a request by any Borrower for a Borrowing in accordance with Section 2.03 in substantially the form attached hereto as Exhibit G-1 or such other form as the AdministrativeAgentmayapprovefromtimetotime. “BusinessDaymeansanydaythatisnotaSaturday,Sundayorotherdayonwhichcommercial banksinNeworkCityareauthoriedorrequiredbylawtoremainclosedprovidedthat,whenusedin connection with a Eurocurrency Loan, the term “Business Day shall also exclude any day on which banksarenotopenfordealingsintherelevantAgreedCurrencyintheLondoninterbankmarketorthe principalfinancialcenterofsuchAgreedCurrency(and,iftheBorrowingsorLCDisbursementswhich arethesubjectofaborrowing,drawing,payment,reimbursementorrateselectionaredenominatedin euro,theterm“BusinessDayshallalsoexcludeanydayonwhichtheTARGET2paymentsystemisnot openforthesettlementofpaymentsineuro. “CalendarQuartermeanseachofthefourcalendarquartersofeachcalendaryearendingeach March31,June30,September30andDecember31ofeachcalendaryear. “CashCollateraliemeanstopledgeanddepositwithordelivertotheAdministrativeAgent,for the benefit of the Administrative Agent, the applicable Issuing Bank and the Revolving Lenders, as collateralorsupportfortheLCExposure,cashordepositaccountbalances,orastandbyletterofcredit from a financial institution satisfactory to the Administrative Agent, in each case pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent and the applicableIssuingBank(whichdocumentsareherebyconsentedtobytheLenders.Derivativesofsuch termshallhavecorrespondingmeanings. “ChangeinLawmeanstheoccurrence,aftertheEffectiveDate(orwithrespecttoanyLender,if later,thedateonwhichsuchLenderbecomesaLender,ofanyofthefollowing:(atheadoptionor takingeffectofanylaw,rule,regulationortreaty,(banychangeinanylaw,rule,regulationortreatyor in the administration, interpretation, implementation or application thereof by any Governmental 12
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“ConsolidatedSubsidiarymeans,asofanydate,anySubsidiaryorotherentitytheaccountsof whichwouldbeconsolidatedwiththoseoftheParentinitsconsolidatedfinancialstatementsasofsuch datepreparedinaccordancewithGAAP. “ConsolidatedTotalAssetsmeansthetotalconsolidatedassetsoftheParentanditsSubsidiaries, ineachcasedeterminedinaccordancewithGAAP. “CountryRiskEventmeans: (a anylaw,actionorfailuretoactbyanyGovernmentalAuthorityinanyBorrowersor LetterofCreditbeneficiaryscountrywhichhastheeffectof: (i changingtheobligationsofanyIssuingBankortheLendersunderthe relevant Letter of Credit, the Agreement or any of the other Loan Documents as originally agreed or otherwise creatinganyadditionalliability,costor expenseto any Issuing Bank, the Lenders or the Administrative Agent from that which exists on the EffectiveDate, (ii changingtheownershiporcontrolbysuchBorrowerorLetterofCredit beneficiaryofitsbusiness,or (iii preventingorrestrictingtheconversionintoortransferoftheapplicable AgreedCurrency (b forcemajeureor (c anysimilarevent, which,inrelationto(a,(band(c,directlyorindirectly,preventsorrestrictsthepaymentortransferof anyamountsowingundertherelevantLetterofCreditintheapplicableAgreedCurrencyintoanaccount designatedbytheAdministrativeAgentorsuchIssuingBankandfreelyavailabletotheAdministrative AgentorsuchIssuingBank. “CoveredEntitymeansanyofthefollowing: (i a “covered entity as that term is defined in, and interpreted in accordancewith,12C.F.R.252.82(b (ii a “covered bank as that term is defined in, and interpreted in accordancewith,12C.F.R.47.3(bor (iii a “covered FSI as that term is defined in, and interpreted in accordancewith,12C.F.R.382.2(b. “CoveredPartyhasthemeaningassignedtoitinSection9.18. “CreditEventmeansaBorrowing,theissuance,renewalorextensionofaLetterofCredit,the amendmentofaLetterofCreditthatincreasesthefaceamountthereof,anLCDisbursementoranyofthe foregoing. 14
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“CreditExposuremeans,astoanyLenderatanytime,thesumof(asuchLendersRevolving CreditExposureatsuchtime,plus(banamountequaltotheaggregateprincipalamountofitsTerm Loansoutstandingatsuchtime. “CreditPartymeanstheAdministrativeAgent,theIssuingBanks,theSwinglineLendersorany otherLender. “Debtmeans,withrespecttoanyPersonatanydate,withoutduplication,(iallobligationsof such Person for borrowed money, (ii all obligations of such Person evidenced by bonds, debentures, notesorothersimilarinstruments,(iiiallobligationsofsuchPersontopaythedeferredpurchasepriceof property or services, except trade accounts payable and accrued liabilities (including employee compensation and benefit obligations arising in the ordinary course of business, (iv the outstanding principalobligationsofsuchPersonaslesseeundercapitalleases,(vallDebtofotherssecuredbyaLien onanyassetofsuchPerson,whetherornotsuchDebtisassumedbysuchPerson(itbeingunderstood thatifsuchDebthasnotbeenassumedbysuchPerson,theamountofsuchDebtshallbedeemedtobe the lesser of the fair market value at such date of such asset and the amount of such Debt, (vi the aggregateoutstandinginvestmentorclaimheldbypurchasers,assigneesortransfereesof(orofinterests inreceivablesofsuchPersoninconnectionwithanySecuritiationTransaction,(viiallnon-contingent reimbursementobligationsofsuchPersonunderlettersofcreditandbankguarantees,and(viiiallDebt (as defined above of others Guaranteed by such Person. Notwithstanding the foregoing, Debt shall exclude(aany“earnoutsorsimilarobligationsaccruedinrespectofanyPermittedAcquisition,(bany obligations in respect of customer advances in the ordinary course of business consistent with past practices and (cdefeased and/or discharged indebtedness so long as (i neither the Parent nor any Subsidiaryhasanyliability(contingentorotherwisewithrespecttosuchindebtednessand(iithecash, securities and/or other assets used to defease and/or discharge such indebtedness are not, directly or indirectly,anassetoftheParentoranySubsidiary.IntheeventanyoftheforegoingDebtislimitedto recourseagainstaparticularassetorassetsofsuchPerson,theamountofthecorrespondingDebtshallbe equaltothelesseroftheamountofsuchDebtandthefairmarketvalueofsuchassetorassetsatthedate fordeterminationoftheamountofsuchDebt.Fortheavoidanceofdoubt,theamountofDebtofany PersonatanydatewillbecalculatedwithoutduplicationofanyGuaranteeinrespectthereof. “Defaultmeansanyeventorconditionwhich constitutesanEventofDefaultorwhichupon notice,lapseoftimeorbothwould,unlesscuredorwaived,becomeanEventofDefault. “Default Right has the meaning assigned to that term in, and shall be interpreted in accordancewith,12C.F.R.252.81,47.2or382.1,asapplicable. “DefaultingLendermeansanyLenderthat(ahasfailed,withinthree(3BusinessDaysofthe date required to be funded or paid, to (i fund any portion of its Loans, (ii fund any portion of its participations in Letters of Credit or Swingline Loans or (iii pay over to any Credit Party any other amountrequiredtobepaidbyithereunder,unless,inthecaseofclause(iabove,suchLendernotifies the Administrative Agent in writing that such failure is the result of such Lenders good faith determinationthataconditionprecedenttofunding(specificallyidentifiedandincludingtheparticular default,ifanyhasnotbeensatisfied,(bhasnotifiedtheCompanyoranyCreditPartyinwriting,orhas madeapublicstatementtotheeffect,thatitdoesnotintendorexpecttocomplywithanyofitsfunding obligationsunderthisAgreement(unlesssuchwritingorpublicstatementindicatesthatsuchpositionis basedonsuchLendersgoodfaithdeterminationthataconditionprecedent(specificallyidentifiedand includingtheparticulardefault,ifanytofundingaloanunderthisAgreementcannotbesatisfiedor generallyunderotheragreementsinwhichitcommitstoextendcredit,(chasfailed,withinthree(3 BusinessDaysafterrequestbytheCompanyortheAdministrativeAgent,actingingoodfaith,toprovide acertificationinwritingfromanauthoriedofficerofsuchLenderthatitwillcomplywithitsobligations 15
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combinationofthesetransactionsprovidedthatnophantomstockorsimilarplanprovidingforpayments onlyonaccountofservicesprovidedbycurrentorformerdirectors,officers,employeesorconsultantsof theParentortheSubsidiariesshallbeaHedgingAgreement. “Impacted Interest Period has the meaning assigned to such term in the definition of “LIBO Rate. “IncreasingLenderhasthemeaningassignedtosuchterminSection2.20. “IncrementalTermLoanhasthemeaningassignedtosuchterminSection2.20. “IncrementalTermLoanAmendmenthasthemeaningassignedtosuchterminSection2.20. “IndemnifiedTaxesmeans(aTaxesotherthanExcludedTaxesimposedonorwithrespectto anypaymentmadebyanyLoanPartyunderanyLoanDocumentand(bOtherTaxes. “IndemniteehasthemeaningassignedtosuchterminSection9.03(b. “IneligibleInstitutionhasthemeaningassignedtosuchterminSection9.04(b. “InformationhasthemeaningassignedtosuchterminSection9.12. “InitialAffiliateBorrowermeansHoffmanSchroffHoldings,Inc.(formerlyknownasPentair TechnicalProductsHoldings,Inc.,aDelawarecorporation. “InsolvencyRegulationshallmeantheRegulationEU2015/848oftheEuropeanParliamentand oftheCouncilof20May2015oninsolvencyproceedings(recast. “InterestCoverageRatiomeans,foranyperiod,theratioof(iEBITDAforsuchperiodto(ii InterestExpenseforsuchperiod. “InterestExpensemeans,foranyperiod,thesum,withoutduplication,ofconsolidatedinterest expenseoftheParentanditsSubsidiariesforsuchperiod(including,ineachcasetotheextentincludedin interestexpenseontheParentsconsolidatedincomestatement,theinterestcomponentofcapitalleases, theinterestcomponentofSyntheticLeaseObligations,facility,commitmentandusagefees,andfeesfor standbylettersofcredit,plusconsolidatedyieldordiscountaccrued,duringsuchperiodontheaggregate outstandinginvestmentorclaimheldbypurchasers,assigneesorothertransfereesof(orofinterestsin receivables of the Parent and its Subsidiaries in connection with any Securitiation Transaction (regardlessoftheaccountingtreatmentofsuchSecuritiationTransaction,plusnetpayments(ifany pursuanttoHedgingAgreements,minusthesum(withoutduplicationof(aannualadministrativeagent fees, (bcosts associated with obtaining swap agreements and any interest expense attributabletothe movement of the mark-to-market valuation of obligations under swap agreements or other derivative instrumentsandanyone-timecostsassociatedwithbreakageinrespectofswapagreementsforinterest rates,(ccostsassociatedwiththeissuanceorincurrenceofdebt,includingamortiationandwrite-offof deferredandotherfinancingfees,debtissuancecosts,commissions,feesandexpensesandoriginalissue discount, (d PIK interest, (e any non-cash expense in respect of any interest component relating to accretionoraccrualofdiscountedliabilitiesand(fnetreceipts(ifanypursuanttoHedgingAgreements. 22
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(ii inwhosehandsanyinterestpayableinrespectofmoneysoadvancedis takenintoaccountincomputingthetradingincomeofthatcompanyand (iii whichhascompliedwiththenotificationrequirementssetoutinSection 246(5(aoftheIrishTCA. (d aqualifyingcompanywithinthemeaningofSection110oftheIrishTCAor (e aninvestmentundertakingwithinthemeaningofSection739BoftheIrishTCAor (f anIrishTreatyLenderor (g anexemptedapprovedschemewithinthemeaningofSection774oftheIrishTCA. “IrishTCAmeanstheTaxesConsolidationAct,1997ofIreland. “IrishTreatyLendermeansaLenderwhichisonthedatetherelevantpaymentismadeentitled underadoubletaxationagreement(an“IrishTreatyinforceonthatdatebetweenIrelandandanother jurisdiction to that payment without any withholding for or on account of Irish Tax (subject to the completionofanyproceduralformalitiesandwhichdoesnotcarryonabusinessinIrelandthrougha permanentestablishmentwithwhichthatLendersparticipationintheLoaniseffectivelyconnected. “IssuingBankmeanseachofJPMCB,BankofAmerica,N.A.,MUFGBank,Ltd.(f/k/aThe BankofTokyo-MitsubishiUFJ,Ltd.,Citibank,N.A.,U.S.BankNationalAssociationandeachother LenderdesignatedbytheCompanyasan“IssuingBankhereunderthathasagreedtosuchdesignation (andisreasonablyacceptabletotheAdministrativeAgent,eachinitscapacityastheissuerofLettersof Credithereunder,anditssuccessorsinsuchcapacityasprovidedinSection2.06(i.EachIssuingBank may,initsdiscretion,arrangeforoneormoreLettersofCredittobeissuedbyAffiliatesorbranchesof suchIssuingBank,inwhichcasetheterm“IssuingBankshallincludeanysuchAffiliateorbranch,as applicable,withrespecttoLettersofCreditissuedbysuchAffiliate. “JPMCBmeansJPMorganChaseBank,N.A. “Knowledge means the actual knowledge of a Responsible Officer, without giving effect to imputedorconstructiveknowledgeorgivingrisetoanydutytoinvestigate. “LCDisbursementmeansapaymentmadebyanIssuingBankpursuanttoaLetterofCredit. “LCExposuremeans,atanytime,thesumof(atheaggregateundrawnDollarAmountofall outstandingLettersofCreditatsuchtimewhicharethenavailableplus(btheaggregateDollarAmount ofallLCDisbursementsthathavenotyetbeenreimbursedbyoronbehalfoftheCompanyatsuchtime. TheLCExposureofanyRevolvingLenderatanytimeshallbeitsApplicablePercentageofthetotalLC Exposureatsuchtime. “LenderNoticeDatehasthemeaningassignedtosuchterminSection2.25(b. “Lender Parent means, with respect to any Lender, any Person as to which such Lender is, directlyorindirectly,asubsidiary. “Lenders means the Persons listed on Schedule 2.01 and any other Person that shall have becomeaLenderhereunderpursuanttoSection2.20orpursuanttoanAssignmentandAssumptionor 25
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“PermittedAcquisitionmeansanyAcquisitionbytheParentoraSubsidiarywhichsatisfieseach ofthefollowingrequirements:(inoEventofDefaultorDefaulthasoccurredandiscontinuingatthe timeof,orwillresultupongivingeffectto,suchAcquisitionand(iiinthecaseoftheAcquisitionofany Person,theboardofdirectors(orequivalentgoverningbodyofthePersonbeingacquired(orallofthe equityholdersthereofshallhaveapprovedsuchAcquisition. “Personmeansanindividual,partnership,corporation,limitedliabilitycompany,businesstrust, jointstockcompany,trust,unincorporatedassociation,jointventureorGovernmentalAuthority. “Plan means at any time an employee pension benefit plan which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code and is either (i maintainedbytheParentoranyERISAAffiliateforemployeesoftheParentorsuchERISAAffiliateor (iimaintainedpursuanttoacollectivebargainingagreementoranyotherarrangementunderwhichmore thanoneemployermakescontributionsandtowhichtheParentoranyERISAAffiliateisthenmakingor accruing an obligation to make contributions or has within the preceding five plan years made contributions. “PlanAssetRegulationsmeans29CFR2510.3-101et seq.,asmodifiedbySection3(42of ERISA,asamendedfromtimetotime. “PoundsSterlingmeansthelawfulcurrencyoftheUnitedKingdom. “Prime Rate means the rate of interestlastquoted by TheWallStreet Journal as the “Prime RateintheU.S.or,ifTheWallStreetJournalceasestoquotesuchrate,thehighestperannuminterest ratepublishedbytheBoardinFederalReserveStatisticalReleaseH.15(519(SelectedInterestRatesas the“bankprimeloanrateor,ifsuchrateisnolongerquotedtherein,anysimilarratequotedtherein(as determinedingoodfaithbytheAdministrativeAgentoranysimilarreleasebytheBoard(asdetermined ingoodfaithbytheAdministrativeAgent.EachchangeinthePrimeRateshallbeeffectivefromand includingthedatesuchchangeispubliclyannouncedorquotedasbeingeffective. “PTEmeansaprohibitedtransactionclassexemptionissuedbytheU.S.DepartmentofLabor, asanysuchexemptionmaybeamendedfromtimetotime. “Public Debt Rating the rating that has been most recently announced by SP, Moodys or Fitch,asthecasemaybe,foranyclassofnon-creditenhancedlong-termseniorunsecureddebtissuedby theCompany(orifnosuchratingisthenineffectwithrespecttosuchdebt,thenthecorporate,issueror similar rating withrespecttotheParent,thathasbeenmostrecentlyannouncedbySP,Moodysor Fitch,asthecasemaybe,or,ifanysuchratingagencyshallhaveissuedmorethanonesuchrating,the lowestsuchratingissuedbysuchratingagency. “QFChasthemeaningassignedtotheterm“qualifiedfinancialcontractin,andshallbe interpretedinaccordancewith,12U.S.C.5390(c(8(D. “QFCCreditSupporthasthemeaningassignedtoitinSection9.18. “QuotationDaymeans,withrespecttoanyEurocurrencyBorrowingforanyInterestPeriod,(i ifthecurrencyisPoundsSterling,thefirstdayofsuchInterestPeriod,(iiifthecurrencyiseuro,theday that is two (2 TARGET2 Days before the first day of such Interest Period, and (iii for any other currency,two(2BusinessDayspriortothecommencementofsuchInterestPeriod(unless,ineachcase, marketpracticediffersintherelevantmarketwheretheLIBORateforsuchcurrencyistobedetermined, in which case the Quotation Day will be determined by theAdministrative Agent in accordance with 30
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oneormoreintermediaries,orboth,bysuchPerson.Unlessotherwisespecified,allreferenceshereintoa “Subsidiaryorto“SubsidiariesshallrefertoaSubsidiaryorSubsidiariesoftheParent. “SupportedQFChasthemeaningassignedtoitinSection9.18. “SurvivingCommitmenthasthemeaningassignedtosuchterminSection2.09(b. “SurvivingLenderhasthemeaningassignedtosuchterminSection2.09(b. “Swingline Exposure means, at any time, the aggregate principal Dollar Amount of all SwinglineLoansoutstandingatsuchtime.TheSwinglineExposureofanyLenderatanytimeshallbe thesumof(aitsApplicablePercentageofthetotalSwinglineExposureatsuchtimeotherthanwith respecttoanySwinglineLoansmadebysuchLenderinitscapacityasaSwinglineLenderand(bthe aggregateprincipalDollarAmountofallSwinglineLoansmadebysuchLenderasaSwinglineLender outstandingatsuchtime(lesstheDollarAmountofparticipationsfundedbytheotherRevolvingLenders insuchSwinglineLoans. “SwinglineForeignCurrencySublimitmeans$30,000,000. “SwinglineLendersmeanseachofJPMCB,BankofAmerica,N.A.,MUFGBank,Ltd.(f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citibank, N.A., U.S. Bank National Association and each other Lender designated by the Company as a “Swingline Lender hereunder that has agreed to such designation(andisreasonablyacceptabletotheAdministrativeAgent,eachinitscapacityasalenderof SwinglineLoanshereunder. “SwinglineLoanmeansaLoanmadepursuanttoSection2.05. “SwinglineSublimit means as to any Lender (itheamount setforth opposite suchLenders nameonSchedule2.05hereofor(iiifsuchLenderhasenteredintoanAssignmentandAssumption,the amount set forth for such Lender as its Swingline Sublimit in the Register maintained by the AdministrativeAgentpursuanttoSection9.04(b(iv(providedthat,inthecaseofeachoftheforegoing clauses(iand(ii,anyincreaseintheSwinglineSublimitwithrespecttoanyLendershallonlyrequire theconsentoftheCompanyandsuchLender. “SwissBorrowermeansanyAffiliateBorrowerorganiedunderthelawsofSwiterlandor,if different,isdeemedresidentinSwiterlandforSwissWithholdingTaxpurposespursuanttoArticle9of theSwissWithholdingTaxAct. “SwissGuidelinesmeans,together,theguidelinesS-02.122.1inrelationtobondsofApril1999 as issued by the Swiss Federal Tax Administration (Merkblatt S-02.122.1 vom April 1999 betreffend “Obligationen”,S-02.123inrelationtointerbanktransactionsof22September1986asissuedbythe SwissFederalTaxAdministration(Merkblatt S-02.123 vom 22 September 1986 betreffend Zinsen von Bankguthaben, deren Gläubiger Banken sind (Interbankguthaben),S-02.128inrelationtosyndicated credit facilities of January 2000 (Merkblatt S-02.128 vom Januar 2000 “Steuerliche Behandlung von Konsortialdarlehen, Schuldscheindarlehen, Wechseln und Unterbeteiligungen”,S-02.130.1inrelationto money market instruments and book claims of April 1999 (Merkblatt S-02.130.1 vom April 1999 “Geldmarktpapiere und Buchforderungen inländischer Schuldner”, the circular letter No. 15 (1-015- DVS-2007of7February2007inrelationtobondsandderivativefinancialinstrumentsassubjectmatter oftaxationofSwissfederalincometax,SwisswithholdingtaxandSwissstamptaxes(Kreisschreiben Nr. 15 “Obligationen und derivative Finanzinstrumente als Gegenstand der direkten Bundessteuer, der Verrechnungssteuer und der Stempelabgaben” vom 3. Oktober 2017andthecircularletterNo.34of26 35
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“SyndicationAgentmeanseachofBankofAmerica,N.A.,MUFGBank,Ltd.(f/k/aTheBank ofTokyo-MitsubishiUFJ,Ltd.,Citibank,N.A.andU.S.BankNationalAssociationinitscapacityas syndicationagentforthecreditfacilitiesevidencedbythisAgreement. “SyntheticLeaseObligationsmeansobligationsunderoperatingleases(asdeterminedpursuant to Statement of Financial Accounting Standards No. 13 of properties which are reported for United States income tax purposes as owned by the Parent or a Consolidated Subsidiary. The amount of SyntheticLeaseObligationsunderanysuchleaseshallbedeterminedinaccordancewithGAAPasif suchoperatingleasewereacapitallease. “TARGET2 means the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET2 payment system (or, if such paymentsystemceases to be operative, such other paymentsystem(ifanyreasonablydeterminedbytheAdministrativeAgenttobeasuitablereplacement forthesettlementofpaymentsineuro. “TARGET2DaymeansadaythatTARGET2isopenforthesettlementofpaymentsineuro. “Taxesmeansanyandallpresentorfuturetaxes,levies,imposts,duties,deductions,fees,value addedtaxes,oranyothergoodsandservices,useorsalestaxes,assessments,chargesorwithholdings imposedbyanyGovernmentalAuthority,includinganyinterest,additionstotaxorpenaltiesapplicable thereto. “Term Lender means, as of any date of determination, each Lender having a Term Loan CommitmentorthatholdsTermLoans. “TermLoanCommitmentmeans(aastoanyTermLender,theaggregatecommitmentofsuch TermLendertomakeTermLoansassetforthonSchedule2.01orintheAssignmentandAssumptionor otherdocumentationorrecord(assuchtermisdefinedinSection9-102(a(70oftheNeworkUniform Commercial Code as provided in Section 9.04(b(ii(C or other documentation contemplated hereby pursuanttowhichsuchLendershallhaveassumeditsTermLoanCommitment,asapplicableand(bas to all Term Lenders, the aggregate commitment of all Term Lenders to make Term Loans, which aggregatecommitmentshallbe$200,000,000onthedateofthisAgreement.AfteradvancingtheTerm Loan, each reference to a Term Lenders Term Loan Commitment shall refer to that Term Lenders ApplicablePercentageoftheTermLoans. “TermLoanMaturityDatemeansthefiveyearanniversaryoftheClosingDate,asextended(in thecaseofeachTermLenderconsentingtheretopursuanttoSection2.25. “Term Loans means the term loans made by the Term Lenders to the Company pursuant to Section2.01(b. “Total Revolving Credit Exposure means, at any time, the sum of the outstanding principal amountofallRevolvingLendersRevolvingLoans,theirLCExposureandtheirSwinglineExposureat suchtimeprovided,thatclause(aofthedefinitionofSwinglineExposureshallonlybeapplicabletothe extentRevolvingLendersshallhavefundedtheirrespectiveparticipationsintheoutstandingSwingline Loans. “TradeDatehasthemeaningspecifiedinSection9.04(e(ihereof. 37
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“Transaction Expenses has the meaning assigned to such term in the definition of “Spinoff Transactions. “Transactions means the execution, delivery and performance by the Loan Parties of this AgreementandtheotherLoanDocuments,theborrowingofLoans,theuseoftheproceedsthereof,the issuanceofLettersofCredithereunder,theSpinoffandtheSpinoffTransactions. “Type,whenusedinreferencetoanyLoanorBorrowing,referstowhethertherateofinterest onsuchLoan,orontheLoanscomprisingsuchBorrowing,isdeterminedbyreferencetotheAdjusted LIBORateortheAlternateBaseRate. “UnfundedVestedLiabilitiesmeans,withrespecttoanyPlanatanytime,theamount(ifany bywhich(ithecurrentliabilityasdefinedinSection412(l(7oftheCodeundersuchPlanexceeds(ii thefairmarketvalueofallPlanassetsallocabletosuchbenefits,allasdeterminedasofthethenmost recentvaluationdateforsuchPlan,butonlytotheextentthatsuchexcessrepresentsapotentialliability oftheParentoranyERISAAffiliatetothePBGCorsuchPlanunderTitleIVofERISA. “UnitedStatesand“U.S.eachmeantheUnitedStatesofAmerica. “U.S.LendermeansaLenderthatisnotaForeignLender. “U.S.Personmeansa“UnitedStatespersonwithinthemeaningofSection7701(a(30ofthe Code. “U.S.SpecialResolutionRegimehasthemeaningassignedtoitinSection9.18. “UKBankruptcyEventmeans: (a aUKRelevantEntityisunableoradmitsinabilitytopayitsdebts(asdefinedinsection 123(1(aoftheInsolvencyAct1986astheyfalldueorisdeemedtoordeclaredtobeunabletopayits debtsunderapplicablelaw,orsuspendsorthreatenstosuspendmakingpaymentsonanyofitsdebtsor, byreasonofactualoranticipatedfinancialdifficultiesor (b anycorporateaction,legalproceedingsorotherformalprocedureorformalstepfor(i thesuspensionofpayments,amoratoriumofanyindebtedness,winding-up,dissolution,administrationor reorganiation (by way of voluntary arrangement, scheme of arrangement or otherwise of any UK RelevantEntity(iiacomposition,compromise,assignmentorarrangementwithanycreditorofanyUK RelevantEntityor(iiitheappointmentofaliquidator,receiver,administrativereceiver,administrator, compulsorymanagerorothersimilarofficerinrespectofanyUKRelevantEntity,oranyoftheassetsof anyUKRelevantEntitysavethatthisparagraph(bshallnotapplytoanyaction,proceeding,procedure orformalstepwhichisfrivolousorvexatiousandisdischarged,stayedordismissedwithin14daysof commencement. “UKBorrowermeansanyAffiliateBorrowerresidentfortaxpurposesinEnglandandWales. “UKBorrowerDTTPFilingmeansanHMRevenueCustomsFormDTTP2,dulycompleted andfiledbytherelevantUKBorrower,which: (a whereitrelatestoa UK Treaty LenderthatisaLenderontheday thisAgreementis enteredinto(oranyamendmenthereto,containstheschemereferencenumberandjurisdictionoftax 38
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financialstatementsdeliveredpursuanttoSection5.01(aand5.01(bshallbepreparedwithoutgiving effecttothissentence. SECTION1.05 Interest Rates. The Administrative Agent does not warrant or accept responsibilityfor,andshallnothaveanyliabilitywithrespectto,theadministration,submissionorany othermatterrelatedtotheratesinthedefinitionof“LIBORateorwithrespecttoanycomparableor successorratethereto,orreplacementratetherefor(otherthan,fortheavoidanceofdoubt,withrespectto itsobligationtoapplythedefinitionofsuchrateinaccordancewithitsterms. SECTION1.06 LuxembourgTerms.NotwithstandinganyotherprovisionofthisAgreementto thecontrary,inthisAgreementwhereitrelatestoanyAffiliateBorrowerwhichisorganiedunderthe lawsofLuxembourg,areferenceto:(aareceiver,conservator,trustee,administrator,custodian,assignee for the benefit of creditors, compulsory manager or other similar officer includes a juge délégué, commissaire, juge-commissaire, mandataire ad hoc, administrateur provisoire, liquidateurorcurateur (b liquidation, bankruptcy, insolvency, reorganiation, moratorium or any similar proceeding shall include (i insolvency/bankruptcy (faillite) within the meaning of Articles 437 ff. of the Luxembourg CommercialCode, (iicontrolledmanagement (gestion contrôlée) withinthemeaningofthegrandducal regulation of 24 May 1935 on controlled management, (iii voluntary arrangement with creditors (concordat préventif de la faillite) withinthemeaningofthelawof14April1886onarrangementsto preventinsolvency,asamended,(ivsuspensionofpayments (sursis de paiement) withinthemeaningof Articles 593 ff. of the Luxembourg Commercial Codeor (v voluntary or compulsory winding-up pursuant to the law of 10 August 1915 on commercial companies, as amended, (c a lien or security interestincludesanyhypothèque, nantissement, gage, privilège, sûreté réelle, droit de rétention,andany type of security in rem (sûreté réelle or agreement or arrangement having a similar effect and any transferoftitlebywayofsecurity(dapersonbeingunabletopayitsdebtsincludesthatpersonbeingin astateofcessationofpayments(cessation de paiementsorhavinglostormeetingthecriteriatoloseits commercialcreditworthiness(ébranlement de crédit(eattachmentsorsimilarcreditorsprocessmeans anexecutoryattachment(saisie exécutoireorconservatoryattachment(saisie arrêtand(fa“set-off includes,forpurposesofLuxembourglaw,legalset-off. SECTION1.07 CertainCalculations.NoDefaultorEventofDefaultshallariseasaresultofany limitationorthresholdsetforthinDollarsinArticlesVIandVIIunderthisAgreementbeingexceeded solelyasaresultofchangesincurrencyexchangeratesfromthoseratesapplicableonthelastdayofthe fiscal quarter of the Parent immediately preceding the fiscal quarter of the Parent in which such transactionrequiringadeterminationoccurs. SECTION1.08Divisions.ForallpurposesundertheLoanDocuments,inconnectionwith anydivisionorplanofdivisionunderDelawarelaw(oranycomparableeventunderadifferent jurisdictionslaws:(aifanyasset,right,obligationorliabilityofanyPersonbecomestheasset, right,obligationorliabilityofadifferentPerson,thenitshallbedeemedtohavebeentransferred fromtheoriginalPersontothesubsequentPerson,and(bifanynewPersoncomesintoexistence, such new Person shall be deemed to have been organied and acquired on the first date of its existencebytheholdersofitsequityinterestsatsuchtime. ARTICLEII. THECREDITS SECTION2.01 Commitments. Subject to the terms and conditions set forth herein, (a each RevolvingLender(severallyandnotjointlyagreestomakeRevolvingLoanstotheBorrowersinAgreed LoanCurrenciesfromtimetotimeduringtheAvailabilityPeriodinanaggregateprincipalamountthat 42
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expectedtohaveaMaterialAdverseEffect.UnderthelawsofLuxembourgitisnotnecessarythatthe LoanDocumentsbefiled,recordedorenrolledwithanycourtorotherauthorityinanyjurisdictionorthat any stamp, registration or similar Taxes be paid on or in relation to the Loan Documents or the transactionscontemplatedbytheLoanDocuments,except(iwheretheLoanDocumentsarephysically attached(annexé(s)toapublicdeedortoanyotherdocumentsubjecttomandatoryregistration,inwhich case either a nominal registration duty or an ad valorem duty (of, for instance, 0.24 per cent. of the amountofthepaymentobligationmentionedinthedocumentsoregisteredwillbepayabledependingon the nature of the document to be registered, and (ii in thecaseof voluntary registration ofthe Loan Documents. SECTION3.08 NotanInvestmentCompany.NeithertheParentnoranySubsidiarythereofisan “investmentcompanywithinthemeaningoftheInvestmentCompanyActof1940. SECTION3.09 EnvironmentalMatters.TheParentconductsintheordinarycourseofbusinessa reviewoftheeffectofexistingEnvironmentalLawsandexistingEnvironmentalClaimsonthebusiness, operations and properties of the Parent and its Subsidiaries, and as a result thereof the Parent has reasonablyconcludedthatsuchEnvironmentalLawsandEnvironmentalClaimscouldnot,individuallyor intheaggregate,reasonablybeexpectedtohaveamaterialadverseeffectonthebusiness,consolidated financialpositionorconsolidatedresultsofoperationsoftheParentanditsSubsidiariestakenasawhole. SECTION3.10 Use of Proceeds. The Borrowers will use the proceeds of the Credit Events solelyforthepurposesdescribedinSection5.02. SECTION3.11 Disclosure. No written report, financial statement, certificate or other written informationfurnishedbyoronbehalfofanyLoanPartytotheAdministrativeAgentoranyLenderin connectionwiththetransactionscontemplatedherebyandthenegotiationofthisAgreementordelivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other informationsofurnishedcontainsanymaterialmisstatementoffactoromitstostateanymaterialfact necessarytomakethestatementstherein,inthelightofthecircumstancesunderwhichtheyweremade, notmisleadingwhentakenasawholeprovidedthat,withrespecttoprojectedfinancialinformation,such Loan Party representsonly that such information waspreparedin good faith based upon assumptions believedtobereasonableatthetime(itbeingunderstoodandagreedthatprojectedfinancialinformation issimplyanestimate,andthereisnoguaranteethatprojectedresultswillinfactbeachieved.Asofthe AmendmentNo.1EffectiveDate,tothebestknowledgeoftheCompany,theinformationincluded intheBeneficialOwnershipCertificationprovidedonorpriortotheAmendmentNo.1Effective DatetoanyLenderinconnectionwiththisAgreementistrueandcorrectinallmaterialrespects. SECTION3.12 Anti-CorruptionLawsandSanctions. (a Each of the Parent and its Subsidiariesand, to its Knowledge, its controlled affiliated companiesandtheirrespectivedirectors,officers,employees,andagentsareconductingtheirbusinessin compliance in all material respects with Anti-Corruption Laws and have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws in all material respects. (b None of the Parent or its Subsidiaries or, to its Knowledge,their respective directors, officers,employeesoragentsactinginanycapacityinconnectionwith,ordirectlybenefitingfrom,the CreditEvents: (i isaDesignatedPerson 84
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membersofagroupofcompaniesconsistingofaholdingcompanyanditssubsidiariesforthepurposes ofSection243oftheIrishCompaniesAct. SECTION3.17 Tax Residence. Each Loan Party (other than the Parent represents that it is residentforTaxpurposesonlyinitsjurisdictionofincorporation.TheParentrepresentsthatitisresident forTaxpurposesonlyinIrelandortheUnitedKingdom. ARTICLEIV. CONDITIONS SECTION4.01 EffectiveDate.ThisAgreementandtheotherLoanDocumentsshallnotbecome effectiveuntilthedateonwhicheachofthefollowingconditionsissatisfied(orwaivedinaccordance withSection9.02: (a TheAdministrativeAgent(oritscounselshallhavereceivedfromeachparty heretoeither(iacounterpartofthisAgreementsignedonbehalfofsuchpartyor(iiwritten evidence satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement that such party has signed a counterpartofthisAgreement. (b The Administrative Agent shall have received a favorable written opinion (addressedtotheAdministrativeAgentandtheLendersanddatedtheEffectiveDateof(iFoley LardnerLLP,specialcounselfortheLoanParties,(iiArthurCox,specialIrishcounselforthe LoanParties,and(iiiAllenOvery,Société en Commandite Simple, inscrite au barreau de Luxembourg, special Luxembourg counsel for the Loan Parties, substantially in the form of ExhibitsB-1,B-2andB-3,respectively,andcoveringsuchothermattersrelatingtotheParent, the Company, the Initial Affiliate Borrower, this Agreement or the Transactions as the Administrative Agent shall reasonably request. The Company hereby requests each such counselstodeliversuchopinions. (c TheAdministrativeAgentshallhavereceivedsuchdocumentsandcertificatesas the Administrative Agent or its counsel may reasonably request relating to the organiation, existenceandgoodstandingoftheLoanParties(whichshallinclude,inthecaseoftheIrishLoan Party,evidencethatsuchLoanPartyhascompliedwithSection82oftheCompaniesAct2014of Ireland,theauthoriationoftheTransactionsandanyotherlegalmattersrelatingtotheParent, theCompany,theInitialAffiliateBorrower,theLoanDocumentsortheTransactions,allinform andsubstancesatisfactorytotheAdministrativeAgentanditscounselandasfurtherdescribedin SectionIofthelistofclosingdocumentsattachedasExhibitE. The Administrative Agent shall notify the Company and the Lenders of the Effective Date, and such noticeshallbeconclusiveandbinding. SECTION4.02 ClosingDate.TheobligationsoftheLenderstomakeLoansandoftheIssuing BankstoissueLettersofCredithereundershallnotbecomeeffectiveuntilthedateonwhicheachofthe followingconditionsissatisfied(orwaivedinaccordancewithSection9.02: (a TheEffectiveDateshallhaveoccurred. 86
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agreementsshallhavebeenwaived,amended,supplementedorotherwisemodifiedinamanner materialandadversetotherightsorinterestsoftheLenderswithoutthepriorapprovalofthe Administrative Agent, it being agreed that the Administrative Agent will act reasonably in makinganysuchdetermination. (i TheAdministrativeAgentshallhavereceivedevidencesatisfactorytoitthatthe “Commitments under (and as defined in the Pentair Credit Agreement have been (or contemporaneously with the Closing Date will be ratably and permanently reduced to $800,000,000 or less (it being understood that such reduction may be effectuated by a commitment reduction under, an amendment to, an amendment and restatement of or a replacementofthePentairCreditAgreement. (j TheAdministrativeAgentshallhavereceivedallfeesandotheramountsdueand payableonorpriortotheClosingDate,including,totheextentinvoiced(inreasonabledetailat leastone(1BusinessDaypriortotheClosingDate,reimbursementorpaymentofallout-of- pocketexpensesrequiredtobereimbursedorpaidbytheCompanyhereunder. TheAdministrativeAgentshallnotifytheCompanyandtheLendersoftheClosingDate,andsuchnotice shallbeconclusiveandbinding.Notwithstandingtheforegoing,theobligationsoftheLenderstomake LoansandoftheIssuingBankstoissueLettersofCredithereundershallnotbecomeeffectiveunless each of the foregoing conditionsset forthin this Section4.02shallhavebeen satisfied (orwaived in accordancewithSection9.02atorpriorto5:00p.m.,NeworkCitytime,onMay31,2018,anditis herebyunderstoodandagreedthatintheeventeachofsuchforegoingconditionsshallnothavebeenso satisfiedorwaived,theCommitmentsshallautomaticallyandirrevocablyterminateat5:00p.m.,New orkCitytime,onMay31,2018. SECTION4.03 EachCreditEvent.TheobligationofeachLendertomakeaLoan,andofthe IssuingBankstoissue,increase,reneworextendanyLetterofCredit,issubjecttothesatisfactionofthe followingconditions: (a therepresentationsandwarrantiesoftheBorrowerssetforthinthisAgreement (otherthantherepresentationscontainedinSections3.04(band3.05shallbetrueandcorrectin allmaterialrespects(providedthatanyrepresentationorwarrantythatisqualifiedbymateriality orMaterialAdverseEffectshallbetrueandcorrectinallrespectsonandasofthedateofsuch Loan(or,ifanysuchrepresentationorwarrantyisexpresslystatedtohavebeenmadeasofa specificdate,asofsuchspecificdateorthedateofissuance,amendmenttoincrease,renewalor extensionofsuchLetterofCredit,asapplicable. (b AtthetimeofandimmediatelyaftergivingeffecttosuchLoanortheissuance, amendmenttoincrease,renewalorextensionofsuchLetterofCredit,asapplicable,noDefault shallhaveoccurredandbecontinuing. EachLoanandeachissuance,amendmenttoincrease,renewalorextensionofaLetterofCreditshallbe deemedtoconstitutearepresentationandwarrantybytheBorrowersonthedatethereofastothematters specifiedinparagraphs(aand(bofthisSection. SECTION4.04 DesignationofanAffiliateBorrower.ThedesignationofanAffiliateBorrower pursuanttoSection2.23issubjecttotheconditionsprecedentthat: 88
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(a The Company or such proposed Affiliate Borrower shall have furnished or causedtobefurnishedtotheAdministrativeAgent: (i subjecttoclauses(dand(ebelow,copies,certifiedbytheSecretaryor AssistantSecretary(orotherappropriateofficer,managerordirectorofsuchSubsidiary, of its board of directors (or other applicable governing bodys resolutions (and resolutions of other bodies, if any are deemed necessary by counsel for the AdministrativeAgentapprovingtheAffiliateBorrowingAgreementandanyotherLoan Documents to which such Subsidiary is becoming a party and such documents and certificatesastheAdministrativeAgentoritscounselmayreasonablyrequestrelatingto theorganiation,existenceandgoodstandingofsuchSubsidiary (ii an incumbency certificate, executed by the Secretary or Assistant Secretary(orotherappropriateofficer,managerordirectorofsuchSubsidiary,which shall identify by name and title and bear the signature of the officers or other representativesofsuchSubsidiaryauthoriedtorequestBorrowingshereunderandsign the Affiliate Borrowing Agreement and the other Loan Documents to which such Subsidiaryisbecomingaparty,uponwhichcertificatetheAdministrativeAgentandthe LendersshallbeentitledtorelyuntilinformedofanychangeinwritingbytheCompany orsuchSubsidiary (iii opinions of counsel to such Subsidiary (which may include inside counsel to such Subsidiary for certain matters, in form and substance reasonably satisfactorytotheAdministrativeAgentanditscounsel,withrespecttothelawsofits jurisdictionoforganiationandsuchothermattersasarereasonablyrequestedbycounsel totheAdministrativeAgentandaddressedtotheAdministrativeAgentandtheLenders (iv any promissory notes requested by any Lender, and any other instruments and documents reasonably requested by the Administrative Agent or any Lender(includinginconnectionwiththePatriotActand (v any documentation and other information related to such Subsidiary reasonablyrequestedbytheAdministrativeAgentoranyLenderunderapplicable“know your customer or similar rules and regulations, including the Patriot Act and the BeneficialOwnershipRegulation (b TheAdministrativeAgentshallhavereceivedevidencesatisfactorytoitthatall of such Affiliate Borrowers then existing credit facilities shall have been cancelled and terminated and all indebtedness thereunder shall have been fully repaid (except to the extent beingsorepaidwiththeinitialRevolvingLoanstosuchBorrowerorotherwisepermittedtobe outstandingpursuanttothisAgreement (c IntheeventanAffiliateBorrowerisorganiedunderthelawsofLuxembourg, (ianexcerpt(extraitissuedbytheLuxembourgTradeandCompaniesRegisterdatedasofthe dateofitsdesignationand(iianon-registrationcertificate(certificate de non-inscription d’une décision judiciaire issued by the Luxembourg Trade and Companies Register regarding the absenceofjudicialproceedingsdatedasofthedateofitsdesignation (d IntheeventanAffiliateBorrowerisorganiedunderthelawsofSwiterland,(i acopyoftheconstitutionaldocumentsofsuchAffiliateBorrower,beingacertifiedexcerptofthe competent commercial register, a certified copy of the articles of association (containing a 89
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(c Compliance Certificates. Simultaneously with the delivery of each set of financial statementsreferredtoinclauses(aand(babove,acertificateofaSeniorFinancialOfficer(isetting forthinreasonabledetailthecalculationsrequiredtoestablishwhethertheParentwasincompliancewith the requirements of Sections 6.01 and 6.02 on the date of such financial statements and (ii stating whetherthereexistsonthedateofsuchcertificateanyEventofDefaultorDefaultand,ifanysuchevent thenexists,settingforththedetailsthereofandtheactionwhichtheParentistakingorproposestotake withrespectthereto. (d NoticeofDefault.ForthwithupontheoccurrenceofanyResponsibleOfficerobtaining knowledgeofanyEventofDefaultorDefault,acertificateofaSeniorFinancialOfficersettingforththe detailsthereofandtheactionwhichtheParentistakingorproposestotakewithrespectthereto. (e ShareholderInformation.Promptlyuponthemailingthereoftotheshareholdersofthe Parentgenerally,copiesofallfinancialstatements,reportsandproxystatementssomailed. (f SECFilings.Promptlyuponthefilingthereof,copiesofallregistrationstatements(other thantheexhibitstheretoandanyregistrationstatementsonFormS-8oritsequivalentandreportson Forms10-Kand10-QwhichtheParentshallhavefiledwiththeSEC. (g ERISANotices.IfandwhentheParentorERISAAffiliateorisrequiredtogivenotice tothePBGCofany“reportableevent(asdefinedinSection4043ofERISAwithrespecttoanyPlan whichcouldreasonablybeexpectedtoconstitutegroundsforadistressorPBGC-initiatedterminationof such Planunder TitleIVofERISA,or knowsthat the planadministratorofany Planhasgiven oris requiredtogivenoticeofanysuchreportableevent,acopyofthenoticeofsuchreportableeventgivenor requiredtobegiventothePBGC. (h NoticeofOtherMaterialEvents.Promptlyuponobtainingknowledgethereof,noticeof thecommencementofanylitigationorGovernmentalAuthorityproceedingaffectingtheParentorany Subsidiary (including pursuant to any applicable Environmental Law in which there is a reasonable possibilityofanadversedecisionwhichcouldreasonablybeexpectedtohaveaMaterialAdverseEffect. (i Ratings.Promptlyuponthepublicannouncementthereof,noticeofanydowngradein any credit rating (including the Public Debt Rating with respect to the Company or the Parent by Moodys,SPorFitch. (j BeneficialOwnershipCertificationChanges.Promptlyaftertheoccurrencethereof, notice to the applicable Lender of any change in the information provided in the Beneficial Ownership Certification delivered to such Lender that would result in a change to the list of beneficialownersidentifiedinsuchcertification. (k KC Information. Promptly following any request therefor, information and documentationreasonablyrequestedbytheAdministrativeAgentoranyLenderforpurposesof compliance with applicable “know your customer and anti-money laundering rules and regulations,includingthePatriotActandtheBeneficialOwnershipRegulation. (l (jOtherInformation.FromtimetotimePromptlyfollowinganyrequesttherefor, such additional information regarding the financial position or business of the Loan Parties as the AdministrativeAgent,attherequestofanyLender,mayreasonablyrequest.(itbeingunderstoodand agreedthatnoLoanPartynoranyofitsSubsidiariesshallberequiredtodiscloseordiscuss,or permittheinspection,examinationormakingofextractsof,anyrecords,books,informationor accountorothermatter(iinrespectofwhichdisclosuretotheAdministrativeAgent,anyLender 91
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ortheirrepresentativesisthenprohibitedbyapplicablelaworanyagreementbindingonanyLoan PartyoranyofitsSubsidiaries,(iithatisprotectedfromdisclosurebytheattorney-clientprivilege or the attorney work product privilege or (iiiconstitutes non-financial trade secrets or non- financialproprietaryinformation. Documents required to be delivered pursuant to Sections3.04or 5.01(totheextent any such documentsareincludedinmaterialsotherwisefiledwiththeSECmaybedeliveredelectronicallyandif so delivered, shall be deemed to have been delivered on the date such documents are posted on the Parents behalf on SyndTrak/IntraLinks/IntraAgency, on EDGAR (the Electronic Data Gathering, AnalysisandRetrievalsystemoftheSECoranysuccessorthereto,oranotherrelevantwebsite,ifany,to whicheachLenderandtheAdministrativeAgenthaveaccess(whetheracommercial,third-partywebsite orwhethersponsoredbytheAdministrativeAgentprovidedthat,exceptinthecaseofanyfilingon EDGARoranysuccessorthereto,theParentshallnotify(whichmaybebyfacsimileorelectronicmail theAdministrativeAgentandeachLenderofthepostingofanysuchdocuments.TheAdministrative Agentshallhavenoobligationtorequestthedeliveryortomaintaincopiesofthedocumentsreferredto above,andinanyeventshallhavenoresponsibilitytomonitorcompliancebytheParentwithanysuch request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintainingitscopiesofsuchdocuments. If anyfinancialmaterialsandrelatedcertificatesrequiredtobedeliveredpursuanttoSections 5.01(a,(band/or(cshallberequiredtobedeliveredpursuanttothetermsofsuchSection(sonaday thatisnotaBusinessDay,therequireddateforsuchdeliveryshallbeextendedtothenextsucceeding BusinessDay. SECTION5.02 UseofProceeds.TheParentshall,andshallcauseeachSubsidiaryto,usethe proceedsoftheTermLoansonorpriortotheSpinoffDate,tofinancecertainpaymentstoPentairin conjunction with the Spinoff Transactions and to pay Transaction Expenses (it being understood and agreedthattheproceedsoftheTermLoansmaynotbeusedforanypurposeotherthanassetforthinthis sentence.TheParentshall,andshallcauseeachSubsidiaryto,usetheproceedsoftheRevolvingLoans (aonorpriortotheSpinoffDate,tofinancecertainpaymentstoPentairinconjunctionwiththeSpinoff TransactionsandtopayTransactionExpensesand(bthereafter,solelyforworkingcapitalneedsandfor general corporate purposes (including Permitted Acquisitions, permitted share repurchases, capital expendituresandrepaymentofDebtoftheParent,eachBorrowerandtheSubsidiaries.Withoutlimiting theforegoing,theParentshallnot,andshallnotpermitanySubsidiaryto,usetheproceedsofanyCredit Events,directlyorindirectly,forthepurpose,whetherimmediate,incidentalorultimate,ofpurchasingor carryingany“marginstockinviolationofRegulationUoftheBoard.Innoeventshalltheproceedsof the Loans be utilied for any purpose that would constitute unlawful financial assistance within the meaningofsections678or679oftheUKCompaniesAct2006orsection82oftheIrishCompaniesAct. SECTION5.03 CompliancewithContractualObligationsandLaws.TheParentshall,andshall causeeachSubsidiaryto,complywithallapplicablelawsandregulationsofanyGovernmentalAuthority havingjurisdictionoveritoritsbusinessthenon-compliancewithwhichwouldreasonablybeexpected tohaveaMaterialAdverseEffect.Withoutlimitingtheforegoing,eachBorrowerwillmaintainineffect andenforcepoliciesandproceduresdesignedtopromoteandachievecompliancebysuchBorrower,its Subsidiaries and their respective directors, officers, employees and agents with applicable Anti- CorruptionLawsandapplicableSanctionsinallmaterialrespects. SECTION5.04 Insurance.TheParentshall,andshallcauseeachSubsidiaryto,maintain,with financially sound and reputable insurers(as determined at the time the relevant coverage isplaced or renewed in the good faith judgment of the Parent or relevant Subsidiary and/or pursuant to a self- insuranceprogram,insurancewithrespecttoitspropertiesandbusinessagainstlossordamageofthe 92
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kinds customarily insured against by Personsengaged inthe same or similar businessesand covering similarpropertiesinthesameorsimilarlocalities,ofsuchtypes,withsuchdeductibles,coveringsuch risksandinsuchamountsasarecustomarilycarriedundersimilarcircumstancesbysuchotherPersons, exceptwherethefailuretodosocouldnotreasonablybeexpectedtohaveaMaterialAdverseEffect. SECTION5.05 OwnershipofBorrowers.TheParentshallatalltimesownandcontrol,directly orindirectly,alloftheequityinterests(otherthandirectorsqualifyingsharesandotherthanasmaybe requiredbylawofeachBorrower(unless,inthecaseofanyBorrowerotherthantheCompany,such BorrowerandhasceasedtobeapartyheretopursuanttoSection2.23. SECTION5.06 PaymentofTaxes.TheParentshall,andshallcauseeachSubsidiaryto,payor makeprovisionforthepaymentofallUnitedStatesfederalandmaterialforeign,stateandothertaxes whichhavebecomeduepursuanttosuchreturnsorpursuanttoanyassessmentinrespectthereofreceived bytheParentoranySubsidiary,except(ataxesthatarebeingcontestedingoodfaithandforwhich adequate reserves have been provided and/or (b where the failure to so pay could not reasonably be expectedtohaveaMaterialAdverseEffect. SECTION5.07 SwissNon-BankRules.EachSwissLoanPartyshallatalltimescomplywiththe SwissTwentyNon-BankRule,totheextentapplicableprovidedthataSwissLoanPartyshallnotbein breach of this Section 5.07 if non-compliance arises solely as a consequence of (a an inaccurate representationandwarrantybyaLenderpursuanttoSection9.17(banyassignmentorparticipationby aLendertoaPersonthatisnotaSwissQualifyingLenderwithouttheconsentoftheCompanyor(c anyLenderceasingtobeaSwissQualifyingLendersolongascommencingpromptlyaftertheCompany obtainsknowledgeofsuchevent,theCompanyandsuchSwissLoanPartytakeallreasonablestepsto causethenumberofcreditorsofsuchSwissLoanPartyrelevantundertheSwissTwentyNon-BankRule tobenotmorethan20. SECTION5.08 LoanPartyLocation.TheParentwillcause(ieachBorrowerandeachMaterial SubsidiaryincorporatedororganiedinanEUjurisdictiontocauseitscentreofmaininterest(asthat term is used in Article 3(1 of the Insolvency Regulation to be situated solely in its jurisdiction of incorporationandnottohaveanestablishment(asthattermisusedinArticle2(10oftheInsolvency Regulationsituatedoutsideitsjurisdictionofincorporationororganiation,asapplicableand(iieach BorrowerandeachMaterialSubsidiaryincorporatedinEnglandandWalestocauseitscentreofmain interest(asthattermisusedinArticle3(1oftheInsolvencyRegulationtobesituatedsolelyinEngland and Wales and not to have an establishment (as that term is used in Article 2(10 of the Insolvency Regulationsituatedoutsideitsjurisdictionofincorporation.TheParentwillcauseitscentreofmain interest (as that term is used in Article 3(1 of the Insolvency Regulation to be situated solely in its jurisdictionofincorporationandnottohaveanestablishment(asthattermisusedinArticle2(10ofthe InsolvencyRegulationsituatedoutsideitsjurisdictionofincorporation. SECTION5.09 Tax Residence. No Loan Party may change its residence for Tax purposes providedthattheParentmaychangeitsresidencefromtimetotimeforTaxpurposesfromthe UnitedKingdomtoIrelandorfromIrelandtotheUnitedKingdom. SECTION5.10 ServiceofProcessAgent.TotheextentthattheCompanywishestoterminate theInitialAffiliateBorrowerasaBorrowerhereunder,theCompanywillprovidetotheAdministrative Agentpriorto,orsubstantiallycontemporaneouslywith,suchterminationaletterfromtheServiceof Process Agent described in clause(ii of the definition of “Service of Process Agent (or any other Service of Process Agent acceptable to the Administrative Agent, and such letter will confirm such 93
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Lenders entrance into, participation in, administration of and performance of the Loans, the LettersofCredit,theCommitmentsandthisAgreementor (iv such other representation, warranty and covenant as may be agreed in writing betweentheAdministrativeAgent,initssolediscretion,andsuchLender. (b In addition, unless sub-clause (i in the immediately preceding clause (a is true with respecttoaLenderorsuchLenderhasnotprovidedanotherrepresentation,warrantyandcovenantas providedinsub-clause(ivintheimmediatelyprecedingclause(a,suchLenderfurther(xrepresents andwarrants,asofthedatesuchPersonbecameaLenderpartyhereto,to,and(ycovenants,fromthe date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto,forthebenefitof,theAdministrativeAgent,andeachArrangerandtheirrespectiveAffiliates,and not,fortheavoidanceofdoubt,toorforthebenefitoftheCompanyoranyotherLoanParty,that: (i none of the Administrative Agent, or any Arranger or any of their respective AffiliatesisafiduciarywithrespecttotheassetsofsuchLender(includinginconnectionwiththe reservationorexerciseofanyrightsbytheAdministrativeAgentunderthisAgreement,anyLoan Documentoranydocumentsrelatedheretoorthereto (ii thePersonmakingtheinvestmentdecisiononbehalfofsuchLenderwithrespect totheentranceinto,participationin,administrationofandperformanceoftheLoans,theLetters ofCredit,theCommitmentsandthisAgreementisindependent(withinthemeaningof29CFR 2510.3-21, as amended from time to time and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has undermanagement or control, total assetsofatleast$50,000,000,ineachcaseasdescribedin29CFR2510.3-21(c(1(i(A-(E (iii thePersonmakingtheinvestmentdecisiononbehalfofsuchLenderwithrespect totheentranceinto,participationin,administrationofandperformanceoftheLoans,theLetters of Credit, the Commitments and this Agreement is capable of evaluating investment risks independently,bothingeneralandwithregardtoparticulartransactionsandinvestmentstrategies (includinginrespectoftheobligations (iv thePersonmakingtheinvestmentdecisiononbehalfofsuchLenderwithrespect totheentranceinto,participationin,administrationofandperformanceoftheLoans,theLetters ofCredit,theCommitmentsandthisAgreementisafiduciaryunderERISAortheCode,orboth, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is responsibleforexercisingindependentjudgmentinevaluatingthetransactionshereunderand (v nofeeorothercompensationisbeingpaiddirectlytotheAdministrativeAgent, or any Arranger or any their respective Affiliates for investment advice (as opposed to other services in connection with the Loans, the Letters of Credit, the Commitments or this Agreement. (c TheAdministrativeAgent,andeachArrangerherebyinformstheLendersthateachsuch Personisnotundertakingtoprovideimpartialinvestmentadvice,ortogiveadviceinafiduciarycapacity, inconnectionwiththetransactionscontemplatedhereby,andthatsuchPersonhasafinancialinterestin thetransactionscontemplatedherebyinthatsuchPersonoranAffiliatethereof(imayreceiveinterestor otherpaymentswithrespecttotheLoans,theLettersofCredit,theCommitmentsandthisAgreement,(ii mayrecognieagainifitextendedtheLoans,theLettersofCreditortheCommitmentsforanamount lessthantheamountbeingpaidforaninterestintheLoans,theLettersofCreditortheCommitmentsby suchLenderor(iiimayreceivefeesorotherpaymentsinconnectionwiththetransactionscontemplated 109
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PartyoranyofitsSubsidiariesmayhaveconflictinginterestsregardingthetransactionsdescribedherein andotherwise.NoCreditPartywilluseconfidentialinformationobtainedfromtheLoanPartybyvirtue ofthetransactionscontemplatedbytheLoanDocumentsoritsotherrelationshipswiththeLoanPartyin connection with the performance bysuchCreditPartyof servicesforothercompanies,andno Credit Partywillfurnishanysuchinformationtoothercompanies.EachLoanPartyalsoacknowledgesthatno Credit Party has any obligation to use in connection with the transactions contemplated by the Loan Documents,ortofurnishtosuchLoanPartyoranyofitsSubsidiaries,confidentialinformationobtained fromothercompanies. SECTION9.16 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. NotwithstandinganythingtothecontraryinanyLoanDocumentorinanyotheragreement,arrangement orunderstandingamonganysuchparties,eachpartyheretoacknowledgesthatanyliabilityofanyEEA Financial Institution arising under any Loan Document may be subject to the Write-Down and ConversionPowersofanEEAResolutionAuthorityandagreesandconsentsto,andacknowledgesand agreestobeboundby: (a the application of any Write-Down and Conversion Powers by an EEA Resolution Authoritytoanysuchliabilitiesarisinghereunderwhichmaybepayabletoitbyanypartyheretothatis anEEAFinancialInstitutionand (b theeffectsofanyBail-InActiononanysuchliability,including,ifapplicable: (i areductioninfullorinpartorcancellationofanysuchliability (ii aconversionofall,oraportionof,suchliabilityintosharesorotherinstruments ofownershipinsuchEEAFinancialInstitution,itsparententity,orabridgeinstitutionthatmay beissuedtoitorotherwiseconferredonit,andthatsuchsharesorotherinstrumentsofownership willbeacceptedbyitinlieuofanyrightswithrespecttoanysuchliabilityunderthisAgreement oranyotherLoanDocumentor (iii thevariationofthetermsofsuchliabilityinconnectionwiththeexerciseofthe Write-DownandConversionPowersofanyEEAResolutionAuthority. SECTION9.17 Confirmation of Lenders Status as Swiss Qualifying Lender. Each Lender representsandwarrantstotheLoanPartiesthat,onthedateofthisAgreement(or,iflater,thedatesuch Lenderbecomesapartyhereto,unlessnotifiedinwritingtotheCompanyandtheAdministrativeAgent priortotheEffectiveDate(orsuchlaterdate,itisaSwissQualifyingLenderandhasnotenteredintoa participationarrangementwithrespecttothisAgreementwithanyPersonthatisaSwissNon-Qualifying Lender. Any Person that shall become a successor, assign or Participant with respect to any Lender pursuant to this Agreement shall be deemed to have represented and warranted that it is a Swiss QualifyingLenderandhasnotenteredintoaparticipationarrangementwithrespecttothisAgreement withanyPersonthatisaSwissNon-QualifyingLenderor,ifnot,suchPersonaccountsasonesingle creditorforpurposesoftheSwissNon-BankRules.EachLendershallpromptlynotifytheCompanyand theAdministrativeAgentifforanyreasonitceasestobeaSwissQualifyingLenderand/oritentersintoa participationarrangementwithrespecttothisAgreementwithanyPersonthatisaSwissNon-Qualifying Lender. SECTION9.18AcknowledgementRegardingSupportedQFCs.TotheextentthattheLoan Documentsprovidesupport,throughaguaranteeorotherwise,forSwapAgreementsoranyother agreementorinstrumentthatisaQFC(suchsupport“QFCCreditSupportandeachsuchQFCa “Supported QFC, the parties acknowledge and agree as follows with respect to the resolution 126
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poweroftheFederalDepositInsuranceCorporationundertheFederalDepositInsuranceActand TitleIIoftheDodd-FrankWallStreetReformandConsumerProtectionAct(togetherwiththe regulations promulgated thereunder, the “U.S. Special Resolution Regimes in respect of such SupportedQFCandQFCCreditSupport(withtheprovisionsbelowapplicablenotwithstanding thattheLoanDocumentsandanySupportedQFCmayinfactbestatedtobegovernedbythelaws oftheStateofNeworkand/oroftheUnitedStatesoranyotherstateoftheUnitedStates: IntheeventaCoveredEntitythatispartytoaSupportedQFC(each,a“CoveredParty becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such SupportedQFCandthebenefitofsuchQFCCreditSupport(andanyinterestandobligationinor undersuchSupportedQFCandsuchQFCCreditSupport,andanyrightsinpropertysecuring suchSupportedQFCorsuchQFCCreditSupportfromsuchCoveredPartywillbeeffectivetothe same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in propertyweregovernedbythelawsoftheUnitedStatesorastateoftheUnitedStates.Inthe eventaCoveredPartyoraBHCActAffiliateofaCoveredPartybecomessubjecttoaproceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwiseapplytosuchSupportedQFCoranyQFCCreditSupportthatmaybeexercisedagainst suchCoveredPartyarepermittedtobeexercisedtonogreaterextentthansuchDefaultRights couldbeexercisedundertheU.S.SpecialResolutionRegimeiftheSupportedQFCandtheLoan DocumentsweregovernedbythelawsoftheUnitedStatesorastateoftheUnitedStates.Without limitationoftheforegoing,itisunderstoodandagreedthatrightsandremediesofthepartieswith respecttoaDefaultingLendershallinnoeventaffecttherightsofanyCoveredPartywithrespect toaSupportedQFCoranyQFCCreditSupport. ARTICLEX. PARENTGUARANTEE In order to induce the Lenders to extend credit to the Borrowers hereunder or to any of the ParentsSubsidiariesunderHedgingAgreementsandBankingServicesAgreements,andforothergood andvaluableconsideration(thereceiptandsufficiencyofwhichareherebyacknowledgedtheParent herebyirrevocablyandunconditionallyguarantees,asaprimaryobligorandnotmerelyasasurety,the paymentwhenandasdue,subjecttothenoticeprovisionscontainedinthisArticleX,oftheObligations andtheSpecifiedAncillaryObligations(collectively,the“GuaranteedObligations.TheParentfurther agreesthatthedueandpunctualpaymentofsuchGuaranteedObligationsmaybeextendedorrenewed,in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guaranteehereundernotwithstandinganysuchextensionorrenewalofanysuchGuaranteedObligation. Fortheavoidanceofdoubtandnotwithstandinganyprovisionhereoftothecontrary,(itheGuaranteed Obligations shall in no event be broader than the performanceofthe related Obligations or Specified AncillaryObligationsinaccordancewiththeirtermsand(iinothingcontainedinthisArticleXshall affect or otherwise impair any rights (including rights of setoff or counterclaim that the applicable Borrower or Subsidiary may have against any holder of Guaranteed Obligation under the applicable HedgingAgreementand/orBankingServicesAgreement,asapplicable,byreasonofanyactionorfailure toactofsuchholderthereunder(including,withoutlimitation,anybreachordefaultofsuchholderunder therelatedHedgingAgreementorBankingServicesAgreement. TheParentwaivespresentmentto,demandofpaymentfromandprotesttoanySubsidiaryofany of the Guaranteed Obligations, and also waives, other than as set forth in this Article X, notice of acceptanceofitsobligationsandnoticeofprotestfornonpayment.TheobligationsoftheParentunder thisArticleXshallnotbeaffectedby:(athefailureoftheAdministrativeAgent,anyIssuingBankor 127
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SCHEDULE2.01 COMMITMENTS LENDER REVOLVING TERMLOAN COMMITMENT COMMITMENT JPMORGANCHASEBANK,N.A. $62,231,332.36 $25,768,667.64 BANKOFAMERICA,N.A. $62,231,332.36 $25,768,667.64 THEMUFGBANKOFTOKO-MITSUBISHIUFJ, $62,231,332.36 $25,768,667.64 LTD. CITIBANK,N.A. $62,231,332.36 $25,768,667.64 U.S.BANKNATIONALASSOCIATION $62,231,332.36 $25,768,667.64 GOLDMANSACHSBANKUSA $58,500,000.00 $0.00 WELLSFARGOBANK,NATIONALASSOCIATION $41,369,692.53 $17,130,307.47 HSBCBANKUSA,NATIONALASSOCIATION $41,369,692.53 $17,130,307.47 DEUTSCHEBANKAGNEWORKBRANCH $58,500,000.00 $0.00 PNCBANK,NATIONALASSOCIATION $30,408,491.95 $12,591,508.05 BANKOFMONTREAL,LONDONBRANCH $30,408,491.95 $12,591,508.05 BANKOFCHINA,LOSANGELESBRANCH $28,286,969.24 $11,713,030.76 AGGREGATECOMMITMENTS 600,000,000 200,000,000
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SCHEDULE2.05 SWINGLINESUBLIMITS LENDER SWINGLINE SUBLIMIT JPMORGANCHASEBANK,N.A. $15,000,000 BANKOFAMERICA,N.A. $15,000,000 THEMUFGBANKOFTOKO-MITSUBISHIUFJ,LTD. $15,000,000 CITIBANK,N.A. $15,000,000 U.S.BANKNATIONALASSOCIATION $15,000,000
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EXHIBITA FORMOFASSIGNMENTANDASSUMPTION ThisAssignmentandAssumption(the“AssignmentandAssumptionisdatedasoftheEffective Datesetforthbelowandisenteredintobyandbetween[Insert name of Assignor(the“Assignorand [Insert name of Assignee(the“Assignee.Capitaliedtermsusedbutnotdefinedhereinshallhavethe meaningsgiventothemintheCreditAgreementidentifiedbelow(asamended,restated,supplementedor otherwise modified from time to time, the “CreditAgreement, receiptof a copy ofwhich is hereby acknowledgedbytheAssignee.TheStandardTermsandConditionssetforthinAnnex1attachedhereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumptionasifsetforthhereininfull. Foranagreedconsideration,theAssignorherebyirrevocablysellsandassignstotheAssignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordancewiththeStandardTermsandConditionsandtheCreditAgreement,asoftheEffectiveDate inserted by the Administrative Agent as contemplated below (i all of the Assignors rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identifiedbelowofallofsuchoutstandingrightsandobligationsoftheAssignorundertherespective facilities identified below (including any letters of credit, guarantees, and swingline loans includedin such facilities and (ii to the extent permitted to be assigned under applicable law, all claims, suits, causes ofactionand any other rightof theAssignor(initscapacityas a Lender againstanyPerson, whether known or unknown, arising under or in connection with the Credit Agreement, any other documentsorinstrumentsdeliveredpursuanttheretoortheloantransactionsgovernedtherebyorinany waybasedonorrelatedtoanyoftheforegoing,includingcontractclaims,tortclaims,malpracticeclaims, statutoryclaims and all otherclaimsatlaworin equityrelatedto the rightsandobligationssold and assignedpursuanttoclause(iabove(therightsandobligationssoldandassignedpursuanttoclauses(i and(iiabovebeingreferredtohereincollectivelyasthe“AssignedInterest.Suchsaleandassignment iswithoutrecoursetotheAssignorand,exceptasexpresslyprovidedinthisAssignmentandAssumption, withoutrepresentationorwarrantybytheAssignor. 1. Assignor: 2. Assignee: [andisanAffiliate/ApprovedFundof[identifyLender1 3. Borrowers: nVent Finance S. r.l. and Pentair Technical ProductsHoffman SchroffHoldings,Inc. 4. AdministrativeAgent: JPMorgan Chase Bank, N.A., as the administrative agent under the CreditAgreement 5. CreditAgreement: TheCreditAgreementdatedasofMarch23,2018amongnVentFinance S. r.l., nVent Electric plc, Pentair Technical ProductsHoffman SchroffHoldings,Inc.,theotherAffiliateBorrowersfromtimetotime partiesthereto,theLenderspartiesthereto,JPMorganChaseBank,N.A., asAdministrativeAgent,andtheotheragentspartiesthereto 6. AssignedInterest: 1Selectasapplicable.
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EXHIBITC-1 FORMOFINCREASINGLENDERSUPPLEMENT INCREASING LENDER SUPPLEMENT, dated __________, 20___ (this “Supplement, by and among each of the signatories hereto, to the Credit Agreement, dated as of March 23, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement, amongnVentFinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,havingitsregisteredofficeat26,boulevardRoyal,L-2449Luxembourgandregisteredwiththe Luxembourg Trade and Companies Register (R.C.S. Luxembourg under number B 219846 (the “Company,nVentElectricplc(the“Parent,PentairTechnicalProductsHoffmanSchroffHoldings, Inc.(the“InitialAffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,the Lenders partytheretoandJPMorgan ChaseBank,N.A.,asadministrativeagent(insuchcapacity,the “AdministrativeAgent. WITNESSETH WHEREAS, pursuant to Section2.20 of the Credit Agreement, the Company has the right, subjecttothetermsandconditionsthereof,toeffectuatefromtimetotimeanincreaseintheaggregate Revolving Commitments and/or one or more tranches of Incremental Term Loans under the Credit Agreement by requesting one or more Lenders to increase the amount of its Revolving Commitment and/ortoparticipateinsuchatranche WHEREAS, the Company has given notice to the Administrative Agent of its intention to [increasetheaggregateRevolvingCommitments[and[enterintoatrancheofIncrementalTermLoans pursuanttosuchSection2.20and WHEREAS, pursuant to Section2.20 of the Credit Agreement, the undersigned Increasing Lendernowdesiresto[increasetheamountofitsRevolvingCommitment[and[participateinatranche ofIncrementalTermLoansundertheCreditAgreementbyexecutinganddeliveringtotheCompanyand theAdministrativeAgentthisSupplement NOW,THEREFORE,eachofthepartiesheretoherebyagreesasfollows: 1. The undersigned Increasing Lender agrees, subject to the terms and conditions of the CreditAgreement,thatonthedateofthisSupplementitshall[haveitsRevolvingCommitmentincreased by$[__________,therebymakingtheaggregateamountofitstotalRevolvingCommitmentsequalto $[__________[and[participateinatrancheofIncrementalTermLoanswithacommitmentamount equalto$[__________withrespectthereto. [[__.TheundersignedIncreasingLenderconfirmsforthebenefitoftheAdministrativeAgent andtheLoanPartiesbutwithoutliabilitytoanyLoanParty,thatitis[notaUKQualifyingLender[aUK QualifyingLender(otherthanaUKTreatyLender[(aUKTreatyLender.10 [[__. The undersigned Increasing Lender confirms that the person beneficially entitled to interestpayabletothatIncreasingLenderinrespectofanadvanceunderaLoanDocumentiseither(aa company resident in the UnitedKingdomfor United Kingdom tax purposes or (ba partnership each memberofwhichis(iacompanysoresidentintheUnitedKingdomor(iiacompanynotsoresidentin theUnitedKingdomwhichcarriesonatradeintheUnitedKingdomthroughapermanentestablishment andwhichbringsintoaccountincomputingitschargeableprofits(withinthemeaningofsection19ofthe 10DeleteasapplicableeachIncreasingLenderisrequiredtoconfirmwhichofthesethreecategoriesitfallswithin.
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EXHIBITC-2 FORMOFAUGMENTINGLENDERSUPPLEMENT AUGMENTINGLENDERSUPPLEMENT,dated__________,20___(this“Supplement,by and among each of the signatories hereto, to the Credit Agreement, dated as of March 23, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement, amongnVentFinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,havingitsregisteredofficeat26,boulevardRoyal,L-2449Luxembourgandregisteredwiththe Luxembourg Trade and Companies Register (R.C.S. Luxembourg under number B 219846 (the “Company,nVentElectricplc(the“Parent,PentairTechnicalProductsHoffmanSchroffHoldings, Inc.(the“InitialAffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,the Lenders partytheretoandJPMorgan ChaseBank,N.A.,asadministrativeagent(insuchcapacity,the “AdministrativeAgent. WITNESSETH WHEREAS, the Credit Agreement provides in Section2.20 thereof that any bank, financial institution or other entity may [extend Revolving Commitments [and [participate in tranches of IncrementalTermLoansundertheCreditAgreementsubjecttotheapprovaloftheCompanyandthe Administrative Agent, by executing and delivering to the Company and the Administrative Agent a supplementtotheCreditAgreementinsubstantiallytheformofthisSupplementand WHEREAS, the undersigned Augmenting Lender was not an original party to the Credit Agreementbutnowdesirestobecomeapartythereto NOW,THEREFORE,eachofthepartiesheretoherebyagreesasfollows: 1. The undersigned Augmenting Lender agrees to be bound by the provisions of the Credit Agreementandagreesthatitshall,onthedateofthisSupplement,becomeaLenderforallpurposesof theCreditAgreementtothesameextentasiforiginallyapartythereto,witha[RevolvingCommitment of$[__________[and[acommitmentwithrespecttoIncrementalTermLoansof$[__________. [[__.TheundersignedAugmentingLenderconfirmsforthebenefitoftheAdministrativeAgent andtheLoanPartiesbutwithoutliabilitytoanyLoanParty,thatitis[notaUKQualifyingLender[aUK QualifyingLender(otherthanaUKTreatyLender[(aUKTreatyLender.14 [[__. The undersigned Augmenting Lender confirms that the person beneficially entitled to interestpayabletothatAugmentingLenderinrespectofanadvanceunderaLoanDocumentiseither(a acompanyresidentintheUnitedKingdomforUnitedKingdomtaxpurposesor(bapartnershipeach memberofwhichis(iacompanysoresidentintheUnitedKingdomor(iiacompanynotsoresidentin theUnitedKingdomwhichcarriesonatradeintheUnitedKingdomthroughapermanentestablishment andwhichbringsintoaccountincomputingitschargeableprofits(withinthemeaningofsection19ofthe UKCTA2009thewholeofanyshareofinterestpayableinrespectofthatadvancethatfallstoitby reasonofPart17oftheUKCTA2009or(cacompanynotsoresidentintheUnitedKingdomwhich carries on a trade in the United Kingdom through a permanent establishment and which brings into 14DeleteasapplicableeachAugmentingLenderisrequiredtoconfirmwhichofthesethreecategoriesitfalls within.
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EXHIBITD-1 [FORMOF REVOLVINGCREDITNOTE March23,2018 FOR VALUE RECEIVED, the undersigned, [NVENT FINANCE S. R.L., a Luxembourg private limited liability company (Société à responsabilité limitée, having its registered office at 26, boulevard Royal, L-2449 Luxembourg and registered with the Luxembourg Trade and Companies Register (R.C.S. Luxembourg under number B 219846[PENTAIR TECHNICAL PRODUCTSHOFFMANSCHROFFHOLDINGS,INC.(the“Borrower,HEREBPROMISESTO PATO[LENDER(the“LendertheoutstandingprincipalbalanceoftheLendersRevolvingLoans madetotheBorrower,togetherwithinterestthereon,attherateorrates,intheamountsandatthetimeor times set forth in the Credit Agreement (as the same may be amended, supplemented or otherwise modifiedfromtimetotime,the“CreditAgreement,datedasofMarch23,2018,byandamongnVent FinanceS.r.l.,nVentElectricplc,PentairTechnicalProductsHoffmanSchroffHoldings,Inc.,the otherAffiliateBorrowersfromtimetotimepartythereto,theLenderspartythereto,theDocumentation Agents,theSyndicationAgentsandJPMorganChaseBank,N.A.,astheAdministrativeAgent,ineach caseatsuchplaceastheAdministrativeAgentmayspecifyfromtimetotime,inlawfulmoneyofthe UnitedStatesinimmediatelyavailablefunds. Capitaliedtermsusedhereinwhicharenototherwisedefinedhereinshallhavetherespective meaningsascribedtheretointheCreditAgreement. TheRevolvingLoansevidencedbythisNoteareprepayableintheamounts,andonthedates,set forthintheCreditAgreement.ThisNoteisoneoftheNotesunder,andassuchtermisdefinedin,the CreditAgreement,andissubjectto,andshouldbeconstruedinaccordancewith,theprovisionsthereof, andisentitledtothebenefitssetforthintheLoanDocuments. TheLenderisherebyauthoriedtorecordonthescheduleannexedheretoandanycontinuation sheetswhichtheLendermayattachthereto(athedateandamountofeachRevolvingLoanmadeby suchLender,(bthecharacterofeachRevolvingLoanasoneormoreABRBorrowings,oneormore Eurocurrency Borrowings, or a combination thereof, (c the Interest Period and Adjusted LIBO Rate applicabletoeachEurocurrencyBorrowing,and(dthedateandamountofeachconversionof,andeach paymentorprepaymentofprincipalof,eachRevolvingLoan.Nofailuretosorecordnoranyerrorinso recordingshallaffecttheobligationoftheBorrowertorepaytheRevolvingLoans,togetherwithinterest thereon, as providedinthe CreditAgreement,andtheoutstandingprincipalbalanceof the Revolving Loansassetforthinsuchscheduleshallbeprimafacieevidenceoftheexistenceandamountsofthe obligationsrecordedtherein. ExceptasspecificallyotherwiseprovidedintheCreditAgreement,theBorrowerherebywaives presentment,demand,noticeofdishonor,protest,noticeofprotestandallotherdemands,protestsand noticesinconnectionwiththeexecution,delivery,performance,collectionandenforcementofthisNote. THISNOTESHALLBECONSTRUEDINACCORDANCEWITHANDGOVERNEDB THELAWOFTHESTATEOFNEWORK. [NVENTFINANCES.R.L. [PENTAIRTECHNICALPRODUCTSHOLDINGS, HOFFMANSCHROFFHOLDINGS,INC.
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EXHIBITD-2 [FORMOF TERMLOANNOTE March23,2018 FOR VALUE RECEIVED, the undersigned, NVENT FINANCE S. R.L., a Luxembourg private limited liability company (Société à responsabilité limitée, having its registered office at 26, boulevard Royal, L-2449 Luxembourg and registered with the Luxembourg Trade and Companies Register (R.C.S. Luxembourg under number B 219846 (the “Borrower, HEREB PROMISES TO PATO[LENDER(the“LendertheoutstandingprincipalbalanceoftheLendersTermLoansmade totheBorrower,togetherwithinterestthereon,attherateorrates,intheamountsandatthetimeortimes setforthintheCreditAgreement(asthesamemaybeamended,supplementedorotherwisemodified fromtimetotime,the“CreditAgreement,datedasofMarch23,2018,byandamongnVentFinance S. r.l., nVent Electric plc, Pentair Technical ProductsHoffman Schroff Holdings, Inc., the other AffiliateBorrowersfromtimetotimepartythereto,theLenderspartythereto,theDocumentationAgents, theSyndicationAgentsandJPMorganChaseBank,N.A.,astheAdministrativeAgent,ineachcaseat suchplaceastheAdministrativeAgentmayspecifyfromtimetotime,inlawfulmoneyoftheUnited Statesinimmediatelyavailablefunds. Capitaliedtermsusedhereinwhicharenototherwisedefinedhereinshallhavetherespective meaningsascribedtheretointheCreditAgreement. TheTermLoansevidencedbythisNoteareprepayableintheamounts,andonthedates,setforth intheCreditAgreement.ThisNoteisoneoftheNotesunder,andassuchtermisdefinedin,theCredit Agreement,andissubjectto,andshouldbeconstruedinaccordancewith,theprovisionsthereof,andis entitledtothebenefitssetforthintheLoanDocuments. TheLenderisherebyauthoriedtorecordonthescheduleannexedheretoandanycontinuation sheetswhichtheLendermayattachthereto(athedateandamountofeachTermLoanmadebysuch Lender,(bthecharacterofeachTermLoanasoneormoreABRBorrowings,oneormoreEurocurrency Borrowings,oracombinationthereof,(ctheInterestPeriodandAdjustedLIBORateapplicabletoeach Eurocurrency Borrowing, and (d the date and amount of each conversion of, and each payment or prepaymentofprincipalof,eachTermLoan.Nofailuretosorecordnoranyerrorinsorecordingshall affecttheobligationoftheBorrowertorepaytheTermLoans,togetherwithinterestthereon,asprovided intheCreditAgreement,andtheoutstandingprincipalbalanceoftheTermLoansassetforthinsuch scheduleshallbeprimafacieevidenceoftheexistenceandamountsoftheobligationsrecordedtherein. ExceptasspecificallyotherwiseprovidedintheCreditAgreement,theBorrowerherebywaives presentment,demand,noticeofdishonor,protest,noticeofprotestandallotherdemands,protestsand noticesinconnectionwiththeexecution,delivery,performance,collectionandenforcementofthisNote. THISNOTESHALLBECONSTRUEDINACCORDANCEWITHANDGOVERNEDB THELAWOFTHESTATEOFNEWORK. NVENTFINANCES.R.L. By: Name: Title:
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EXHIBITF-1 [FORMOF AFFILIATEBORROWINGAGREEMENT AFFILIATEBORROWINGAGREEMENTdatedasof[_____,amongnVentFinanceS.r.l.,a Luxembourg private limited liability company (Société à responsabilité limitée, having its registered office at 26, boulevard Royal, L-2449 Luxembourg and registered with the Luxembourg Trade and CompaniesRegister(R.C.S. LuxembourgundernumberB219846(the“Company,nVentElectricplc, anIrishpubliclimitedcompany(the“Parent,[NameofAffiliateBorrower,a[__________(the“New Affiliate Borrower, and JPMorgan Chase Bank, N.A. as Administrative Agent (the “Administrative Agent. Reference is hereby made to the Credit Agreement dated as of March 23, 2018 (asamended, supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongtheCompany, the Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “Initial Affiliate Borrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theLendersfromtimetotime partytheretoandJPMorganChaseBank,N.A.asAdministrativeAgent.Capitaliedtermsusedherein butnototherwisedefinedhereinshallhavethemeaningsassignedtosuchtermsintheCreditAgreement. Under the Credit Agreement, the Lenders have agreed, upon the terms and subject to the conditions therein set forth, to make Loans to certain Affiliate Borrowers (collectively with the Company, the “Borrowers,andtheCompanyandtheNewAffiliateBorrowerdesirethattheNewAffiliateBorrower becomeanAffiliateBorrower.Inaddition,theNewAffiliateBorrowerherebyauthoriestheCompany to act on its behalf as and to the extent provided for in Article II of the Credit Agreement. Notwithstandingtheprecedingsentence, theNewAffiliateBorrowerherebydesignatesthefollowing officersas being authoried torequestBorrowingsunder theCreditAgreementon behalfof the New AffiliateBorrowerandsignthisAffiliateBorrowingAgreementandtheotherLoanDocumentstowhich theNewAffiliateBorroweris,ormayfromtimetotimebecome,aparty:[______________. EachoftheCompany,theParentandtheNewAffiliateBorrowerrepresentsandwarrantsthatthe representationsandwarrantiesintheCreditAgreementrelatingtotheNewAffiliateBorrowerandthis Agreement(otherthantherepresentationscontainedinSections3.04(band3.05aretrueandcorrectin all material respects (provided that any representation or warranty that is qualified by materiality or MaterialAdverseEffectshallbetrueandcorrectinallrespectsonandasofthedatehereof(or,ifany suchrepresentationorwarrantyisexpresslystatedtohavebeenmadeasofaspecificdate,asofsuch specific date. [INSERT OTHER PROVISIONS REASONABL REQUESTED B ADMINISTRATIVEAGENTORITSCOUNSELSTheParentagreesthattheguaranteeoftheParent containedintheCreditAgreementwillapplytotheObligationsoftheNewAffiliateBorrower.Upon executionofthisAgreementbyeachoftheCompany,theParentandtheNewAffiliateBorrowerandthe AdministrativeAgent,theNewBorrowingSubsidiaryshallbeapartytotheCreditAgreementandshall constitutean“AffiliateBorrowerforallpurposesthereof,andtheNewAffiliateBorrowerherebyagrees tobeboundbyallprovisionsoftheCreditAgreement. ThisAgreementshallbegovernedbyandconstruedinaccordancewiththelawsoftheStateof Nework.
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EXHIBITF-2 [FORMOF AFFILIATEBORROWERTERMINATION JPMorganChaseBank,N.A. asAdministrativeAgent fortheLendersreferredtobelow [__________ [__________ Attention:[__________ [Date LadiesandGentlemen: Theundersigned,nVentFinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,havingitsregisteredofficeat26,boulevardRoyal,L-2449Luxembourgand registeredwiththeLuxembourgTradeandCompaniesRegister(R.C.S. LuxembourgundernumberB 219846 (the “Company, refers to the Credit Agreement dated as of March 23, 2018 (as amended, supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongtheCompany, nVent Electric plc (the “Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “InitialAffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theLenders fromtimetotimepartytheretoandJPMorganChaseBank,N.A.asAdministrativeAgent.Capitalied termsusedandnototherwisedefinedhereinshallhavethemeaningsassignedtosuchtermsintheCredit Agreement. The Company hereby terminates the status of [______________ (the “Terminated Affiliate BorrowerasanAffiliateBorrowerundertheCreditAgreement.[TheCompanyrepresentsandwarrants thatnoLoansmadetotheTerminatedAffiliateBorrowerareoutstandingasofthedatehereofandthatall amounts payable by the Terminated Affiliate Borrower in respect of interest and/or fees (and, to the extentnotifiedbytheAdministrativeAgentoranyLender,anyotheramountspayableundertheCredit AgreementpursuanttotheCreditAgreementhavebeenpaidinfullonorpriortothedatehereof.[The Company acknowledges that the Terminated Affiliate Borrowershall continue to be a Borrower until such time as all Loans made to the Terminated Affiliate Borrower shall have been prepaid and all amounts payable by the Terminated Affiliate Borrower in respect of interest and/or fees (and, to the extentnotifiedbytheAdministrativeAgentoranyLender,anyotheramountspayablebytheTerminated AffiliateBorrowerundertheCreditAgreementpursuanttotheCreditAgreementshallhavebeenpaidin full,providedthattheTerminatedAffiliateBorrowershallnothavetherighttomakefurtherBorrowings undertheCreditAgreement. [SignaturePageFollows
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EXHIBITG-1 FORMOFBORROWINGREQUEST JPMorganChaseBank,N.A., asAdministrativeAgent fortheLendersreferredtobelow [10SouthDearborn Chicago,Illinois60603 Attention:[__________ Facsimile:[__________19 Withacopyto: [__________ [__________ Attention:[__________ Facsimile:[__________ Re:nVentFinanceS.r.l. [Date LadiesandGentlemen: Reference is hereby made to the Credit Agreement dated as of March 23, 2018 (asamended, restated,supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongnVent FinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,having itsregisteredofficeat26,boulevardRoyal,L-2449LuxembourgandregisteredwiththeLuxembourg TradeandCompaniesRegister(R.C.S. LuxembourgundernumberB219846(the“Company,nVent Electric plc (the “Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “Initial AffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theinstitutionsfrom timetotimepartiestheretoasLenders(the“LendersandJPMorganChaseBank,N.A.,initscapacityas AdministrativeAgentforitselfandtheotherLenders(the“AdministrativeAgent.Capitaliedterms usedbutnotdefinedhereinshallhavethemeaningsassignedtosuchtermsintheCreditAgreement.The [undersignedBorrower[Company,onbehalfof[AffiliateBorrower,herebygivesyounoticepursuant toSection2.03oftheCreditAgreementthatitrequestsaBorrowingundertheCreditAgreement,andin thatconnectionthe[undersignedBorrower[Company,onbehalfof[AffiliateBorrower,specifiesthe followinginformationwithrespecttosuchBorrowingrequestedhereby: 1. NameofBorrower:__________ 2. TherequestedBorrowingisa[Revolving[TermLoanBorrowing 3. AggregateprincipalamountofBorrowing:20__________ 19 If request is in respect of Revolving Loans in a Foreign Currency or a Designated Loan, please replace this addresswiththeLondonaddressfromSection9.01(a(ii. 20NotlessthanapplicableamountsspecifiedinSection2.02(c.
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EXHIBITG-2 FORMOFINTERESTELECTIONREQUEST JPMorganChaseBank,N.A., asAdministrativeAgent fortheLendersreferredtobelow [10SouthDearborn Chicago,Illinois60603 Attention:[_______ Facsimile:([__[__-[_____23 Re:nVentFinanceS.r.l. [Date LadiesandGentlemen: Reference is hereby made to the Credit Agreement dated as of March 23, 2018 (asamended, restated,supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongnVent FinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,having itsregisteredofficeat26,boulevardRoyal,L-2449LuxembourgandregisteredwiththeLuxembourg TradeandCompaniesRegister(R.C.S. LuxembourgundernumberB219846(the“Company,nVent Electric plc (the “Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “Initial AffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theinstitutionsfrom timetotimepartiestheretoasLenders(the“LendersandJPMorganChaseBank,N.A.,initscapacityas AdministrativeAgentforitselfandtheotherLenders(the“AdministrativeAgent.Capitaliedterms usedbutnotdefinedhereinshallhavethemeaningsassignedtosuchtermsintheCreditAgreement.The [undersignedBorrower[Company,onbehalfof[AffiliateBorrower,herebygivesyounoticepursuant toSection2.08oftheCreditAgreementthatitrequeststoconvertanexistingBorrowingundertheCredit Agreement, and in that connection the [undersigned Borrower[Company, on behalf of [Affiliate Borrower,specifiesthefollowinginformationwithrespecttosuchconversionrequestedhereby: 1. List Borrower, date, Type, Class, principal amount, Agreed Currency and Interest Period (if applicableofexistingBorrowing:_________ 2. AggregateprincipalamountofresultingBorrowing:_________ 3. Effectivedateofinterestelection(whichshallbeaBusinessDay:_________ 4. TypeofBorrowing(ABRorEurocurrency:_________ 5. InterestPeriodandthelastdaythereof(ifaEurocurrencyBorrowing:24_________ 6. AgreedCurrency:_______________ 23 If request is in respect of Revolving Loans in a Foreign Currency or a Designated Loan, please replace this addresswiththeLondonaddressfromSection9.01(a(ii. 24Whichmustcomplywiththedefinitionof“InterestPeriodandendnotlaterthantheapplicableMaturityDate.
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EXHIBITH-1 [FORMOF U.S.TAXCOMPLIANCECERTIFICATE (ForAForeignLenderThat,ForU.S.FederalIncomeTaxPurposes,IsNeitherTreatedAsAPartnership NorTreatedAsADisregardedEntityThatIsOwnedByAPartnership Reference is hereby made to the Credit Agreement dated as of March 23, 2018 (asamended, restated,supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongnVent FinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,having itsregisteredofficeat26,boulevardRoyal,L-2449LuxembourgandregisteredwiththeLuxembourg TradeandCompaniesRegister(R.C.S. LuxembourgundernumberB219846(the“Company,nVent Electric plc (the “Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “Initial AffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theinstitutionsfrom timetotimepartiestheretoasLendersandJPMorganChaseBank,N.A.,initscapacityasAdministrative AgentforitselfandtheotherLenders(the“AdministrativeAgent. Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifies that (i it is the sole record and beneficial owner of the Loan(s (as well as any Note(s evidencingsuchLoan(sinrespectofwhichitisprovidingthiscertificate,(iiit(or,intheeventthatitis aDisregardedEntity,thePersonthatistreatedforU.S.federalincometaxpurposesasbeingthesole owneroftheundersignedis(anotabankwithinthemeaningofSection881(c(3(AoftheCode,(b notatenpercentshareholderofanyapplicableBorrowerwithinthemeaningofSection871(h(3(Bof theCodeand(cnotacontrolledforeigncorporationrelatedtoanyapplicableBorrowerasdescribedin Section881(c(3(CoftheCode. The undersigned has furnished the Administrative Agent and applicable Borrower with a certificateof the non-U.S. person statusof theundersigned(or,in the event thattheundersigned isa DisregardedEntity,thePersonthatistreatedforU.S.federalincometaxpurposesasbeingthesoleowner oftheundersignedonIRSFormW-8BENorIRSFormW-8BEN-E.Byexecutingthiscertificate,the undersignedagreesthat(1iftheinformationprovidedonthiscertificatechanges,theundersignedshall promptlysoinformtheBorrowersandtheAdministrativeAgentand(2theundersignedshallhaveatall times furnished the Borrowers and the Administrative Agent witha properly completed and currently effectivecertificateineitherthecalendaryearinwhicheachpaymentistobemadetotheundersigned,or ineitherofthetwocalendaryearsprecedingsuchpayments. Unlessotherwisedefinedherein,termsdefinedin theCreditAgreementandusedhereinshall havethemeaningsgiventothemintheCreditAgreement. [NAMEOFLENDER By:______________________________________ Name: Title: Date:__________,20[__
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EXHIBITH-2 [FORMOF U.S.TAXCOMPLIANCECERTIFICATE (ForAForeignParticipantThat,ForU.S.FederalIncomeTaxPurposes,IsNeitherTreatedAsA PartnershipNorTreatedAsADisregardedEntityThatIsOwnedByAPartnership Reference is hereby made to the Credit Agreement dated as of March 23, 2018 (asamended, restated,supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongnVent FinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,having itsregisteredofficeat26,boulevardRoyal,L-2449LuxembourgandregisteredwiththeLuxembourg TradeandCompaniesRegister(R.C.S. LuxembourgundernumberB219846(the“Company,nVent Electric plc (the “Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “Initial AffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theinstitutionsfrom timetotimepartiestheretoasLendersandJPMorganChaseBank,N.A.,initscapacityasAdministrative AgentforitselfandtheotherLenders(the“AdministrativeAgent. Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifiesthat(iitisthesolerecordandbeneficialowneroftheparticipationinrespectofwhichitis providingthiscertificate,(iiit(or,intheeventthatitisaDisregardedEntity,thePersonthatistreated forU.S.federalincometaxpurposesasbeingthesoleowneroftheundersignedis(anotabankwithin the meaningof Section 881(c(3(A ofthe Code, (bnota ten percent shareholderof anyapplicable Borrower within the meaning of Section 871(h(3(B of the Code and (c not a controlled foreign corporationrelatedtoanyapplicableBorrowerasdescribedinSection881(c(3(CoftheCode. TheundersignedhasfurnisheditsparticipatingLenderwithacertificateofthenon-U.S.person statusoftheundersigned(or,intheeventthattheundersignedisaDisregardedEntity,thePersonthatis treatedforU.S.federalincometaxpurposesasbeingthesoleowneroftheundersignedonIRSFormW- 8BEN or IRS FormW-8BEN-E. By executing this certificate, the undersigned agrees that (1 if the informationprovidedonthiscertificatechanges,theundersignedshallpromptlysoinformsuchLenderin writing,and(2theundersignedshallhaveatalltimesfurnishedsuchLenderwithaproperlycompleted andcurrentlyeffectivecertificateineitherthecalendaryearinwhicheachpaymentistobemadetothe undersigned,orineitherofthetwocalendaryearsprecedingsuchpayments. Unlessotherwisedefinedherein,termsdefinedin theCreditAgreementandusedhereinshall havethemeaningsgiventothemintheCreditAgreement. [NAMEOFPARTICIPANT By:______________________________________ Name: Title: Date:__________,20[__
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EXHIBITH-3 [FORMOF U.S.TAXCOMPLIANCECERTIFICATE (ForAForeignParticipantThat,ForU.S.FederalIncomeTaxPurposes,IsEitherTreatedAsA PartnershipOrTreatedAsADisregardedEntityThatIsOwnedByAPartnership Reference is hereby made to the Credit Agreement dated as of March 23, 2018 (asamended, restated,supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongnVent FinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,having itsregisteredofficeat26,boulevardRoyal,L-2449LuxembourgandregisteredwiththeLuxembourg TradeandCompaniesRegister(R.C.S. LuxembourgundernumberB219846(the“Company,nVent Electric plc (the “Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “Initial AffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theinstitutionsfrom timetotimepartiestheretoasLendersandJPMorganChaseBank,N.A.,initscapacityasAdministrative AgentforitselfandtheotherLenders(the“AdministrativeAgent. Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifiesthat(iitisthesolerecordowneroftheparticipationinrespectofwhichitisprovidingthis certificate,(iiitisthesolebeneficialownerofsuchparticipationforpurposesotherthanU.S.federal incometaxpurposes,(iiiit(or,intheeventthatitisaDisregardedEntity,thePersonthatistreatedfor U.S.federalincometaxpurposesasbeingthesoleowneroftheundersignedisnotabankextending creditpursuanttoaloanagreemententeredintointheordinarycourseofitstradeorbusinesswithinthe meaningofSection881(c(3(AoftheCode,and(ivnoneofthemembersoftheundersigned(or,inthe eventthattheundersignedisaDisregardedEntity,noneofthemembersofthePersonthatistreatedfor U.S.federalincometaxpurposesasbeingthesoleowneroftheundersignedis(aabankextending creditpursuanttoaloanagreemententeredintointheordinarycourseofitstradeorbusinesswithinthe meaningofSection881(c(3(AoftheCode,(batenpercentshareholderofanyapplicableBorrower withinthemeaningofSection871(h(3(BoftheCode,or(cacontrolledforeigncorporationrelatedto anyapplicableBorrowerasdescribedinSection881(c(3(CoftheCode. TheundersignedhasfurnisheditsparticipatingLenderwithIRSFormW-8IMaccompaniedby one of the following forms from each of the members of the undersigned (or, in the event that the undersigned is a Disregarded Entity, from each of the members ofthe Person that is treated for U.S. federalincometaxpurposesasbeingthesoleowneroftheundersignedclaimingtheportfoliointerest exemption: (i an IRS FormW-8BEN or IRS FormW-8BEN-E or (ii an IRS Form W-8IM accompaniedbyanIRSFormW-8BENorIRSFormW-8BEN-Efromeachofsuchmembersbeneficial ownersthatisclaimingtheportfoliointerestexemption.Byexecutingthiscertificate,theundersigned agreesthat(1iftheinformationprovidedonthiscertificatechanges,theundersignedshallpromptlyso informsuchLenderand(2theundersignedshallhaveatalltimesfurnishedsuchLenderwithaproperly completedandcurrentlyeffectivecertificateineitherthecalendaryearinwhicheachpaymentistobe madetotheundersigned,orineitherofthetwocalendaryearsprecedingsuchpayments. Unlessotherwisedefinedherein,termsdefinedin theCreditAgreementandusedhereinshall havethemeaningsgiventothemintheCreditAgreement. [NAMEOFPARTICIPANT By:______________________________________ Name: Title:
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EXHIBITH-4 [FORMOF U.S.TAXCOMPLIANCECERTIFICATE (ForAForeignLenderThat,ForU.S.FederalIncomeTaxPurposes,IsEitherTreatedAsAPartnership OrTreatedAsADisregardedEntityThatIsOwnedByAPartnership Reference is hereby made to the Credit Agreement dated as of March 23, 2018 (asamended, restated,supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,amongnVent FinanceS.r.l.,aLuxembourgprivatelimitedliabilitycompany(Société à responsabilité limitée,having itsregisteredofficeat26,boulevardRoyal,L-2449LuxembourgandregisteredwiththeLuxembourg TradeandCompaniesRegister(R.C.S. LuxembourgundernumberB219846(the“Company,nVent Electric plc (the “Parent, Pentair Technical ProductsHoffman Schroff Holdings, Inc. (the “Initial AffiliateBorrower,theotherAffiliateBorrowersfromtimetotimepartythereto,theinstitutionsfrom timetotimepartiestheretoasLendersandJPMorganChaseBank,N.A.,initscapacityasAdministrative AgentforitselfandtheotherLenders(the“AdministrativeAgent. Pursuant to the provisions of Section 2.17 of the Credit Agreement, the undersigned hereby certifiesthat(iitisthesolerecordowneroftheLoan(s(aswellasanyNote(sevidencingsuchLoan(s inrespectofwhichitisprovidingthiscertificate,(iiitisthesolebeneficialownerofsuchLoan(s(as wellasanyNote(sevidencingsuchLoan(sforpurposesotherthanU.S.federalincometaxpurposes, (iiiit(or,intheeventthattheundersignedisaDisregardedEntity,thePersonthatistreatedforU.S. federalincometaxpurposesasbeingthesoleowneroftheundersignedisnotabankextendingcredit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaningofSection881(c(3(AoftheCode,and(ivnoneofthemembersoftheundersigned(or,inthe eventthattheundersignedisaDisregardedEntity,noneofthemembersofthePersonthatistreatedfor U.S.federalincometaxpurposesasbeingthesoleowneroftheundersignedis(aabankextending creditpursuanttoaloanagreemententeredintointheordinarycourseofitstradeorbusinesswithinthe meaningofSection881(c(3(AoftheCode,(batenpercentshareholderofanysuchBorrowerwithin themeaningofSection871(h(3(BoftheCode,or(cacontrolledforeigncorporationrelatedtoany applicableBorrowerasdescribedinSection881(c(3(CoftheCode. TheundersignedhasfurnishedtheAdministrativeAgentandtheapplicableBorrowerwithIRS FormW-8IMaccompaniedbyoneofthefollowingformsfromeachofthemembersoftheundersigned (or,intheeventthattheundersignedisaDisregardedEntity,fromeachofthemembersofthePersonthat istreatedforU.S.federalincometaxpurposesasbeingthesoleowneroftheundersignedclaimingthe portfoliointerestexemption:(ianIRSFormW-8BENorIRSFormW-8BEN-Eor(iianIRSFormW- 8IM accompanied by an IRS FormW-8BEN or IRS FormW-8BEN-E from eachofsuchmembers beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersignedagreesthat(1iftheinformationprovidedonthiscertificatechanges,theundersignedshall promptlysoinformtheBorrowersandtheAdministrativeAgent,and(2theundersignedshallhaveatall times furnished the Borrowers and the Administrative Agent witha properly completed and currently effectivecertificateineitherthecalendaryearinwhicheachpaymentistobemadetotheundersigned,or ineitherofthetwocalendaryearsprecedingsuchpayments. Unlessotherwisedefinedherein,termsdefinedin theCreditAgreementandusedhereinshall havethemeaningsgiventothemintheCreditAgreement. [NAMEOFLENDER
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EXHIBITI [FORMOF IRISHQUALIFINGLENDERCONFIRMATION To: nVent Finance S. r.l., a Luxembourg private limited liability company (Société à responsabilité limitée,havingitsregisteredofficeat26,boulevardRoyal,L-2449Luxembourgandregisteredwiththe Luxembourg Trade and Companies Register (R.C.S. Luxembourg under number B 219846, nVent Electricplc,PentairTechnicalProductsHoffmanSchroffHoldings,Inc.,andJPMorganChaseBank, N.A.,astheAdministrativeAgentundertheCreditAgreementreferencedbelow: NameofLender:______________________________________ AddressofLender:____________________________________ Date:____________________________________ Reference is hereby made to that certain Credit Agreement, dated as of March 23, 2018 (as amended,restated,supplementedorotherwisemodifiedfromtimetotime,the“CreditAgreement,by and among nVent Finance S. r.l., nVent Electric plc, Pentair Technical ProductsHoffman Schroff Holdings,Inc.,theotherAffiliateBorrowersfromtimetotimepartythereto,theinstitutionsfromtimeto timepartiestheretoasLendersandJPMorganChaseBank,N.A.,initscapacityasAdministrativeAgent foritselfandtheotherLenders. PursuanttoSection2.17(joftheCreditAgreement,theundersignedLenderherebyconfirms,as atthedateofthisConfirmation,thatitis: notanIrishQualifyingLenderor anIrishQualifyingLender(underparagraph(fofthedefinitionor an Irish Qualifying Lender (under paragraphs (a, (b, (c, (d, (e, or (g of the definition. [NAMEOFLENDER By:_____________________ Name: Title: