November 24, 2014 Albemarle Corporation

Exhibit 10.2
 
November 24, 2014

Albemarle Corporation
451 Florida Street
Baton Rouge, Louisiana 70801


 
Re:
Credit Agreement, dated as of February 7, 2014 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among Albemarle Corporation, a Virginia corporation (the “Company”), the other Borrowers party thereto, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent.

Ladies and Gentlemen:

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

Notwithstanding anything to the contrary contained in Section 8.07 of the Credit Agreement, the Required Lenders hereby consent to the Guarantee by one or more Subsidiaries of (i) the Specified Senior Notes so long as the Company is in compliance with Section 7.12 of the Credit Agreement, (ii) that certain Credit Agreement, dated as of August 15, 2014, among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent and (iii) that certain Credit Agreement to be dated on or about November 25, 2014, among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent.

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

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

This letter shall be governed by and construed in accordance with the laws of the State of New York.
                        
 
Very truly yours,
 
     
  BANK OF AMERICA, N.A.,
as Administrative Agent
 
     
       
 
By:
 /s/ Robert Rittelmeyer   
  Name:  Robert Rittelmeyer   
  Title:  Vice President  
       

ALBEMARLE CORPORATION
CONSENT LETTER (REVOLVER)
 
 
 

 
                  
LENDERS:                                                               
 
 
BANK OF AMERICA, N.A.,
as a Lender
 
       
 
By:
  /s/ Darren Bielawski  
  Name:  Darren Bielawski   
  Title:  Vice President   
       
 
 
JPMORGAN CHASE BANK, N.A.,
as a Lender
 
       
 
By:
 /s/ John Kushnerick  
  Name:  John Kushnerick   
  Title:  Vice President    
       

 
BNP PARIBAS,
as a Lender
 
       
 
By:
 /s/ Mike Shryock  
  Name:  Mike Shryock   
  Title:  Managing Director   
     
 
 
By:
 /s/ Mike Hoffman  
  Name:  Mike Hoffman   
  Title:  Vice  President   
       
 
 
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
as a Lender
 
       
 
By:
 /s/ Mark Campbell   
  Name:  Mark Campbell   
  Title:  Authorized Signatory   
       
 
 
THE ROYAL BANK OF SCOTLAND PLC,
as a Lender
 
       
 
By:
 /s/ William McGinty   
  Name:  William McGinty   
  Title:  Director   
       

 
WELLS FARGO BANK, N.A.,
as a Lender
 
       
 
By:
 /s/ Ashley Walsh  
  Name:  Ashley Walsh   
  Title:  Director   
       
 
ALBEMARLE CORPORATION
CONSENT LETTER (REVOLVER)
 
 
 

 
 
 
SUMITOMO MITSUI BANKING CORPORATION,
as a Lender
 
       
 
By:
 /s/ James D. Weinstein  
  Name:  James D. Weinstein   
  Title:  Managing Director   
       
 
 
U.S. BANK, NATIONAL ASSOCIATION,
as a Lender
 
       
 
By:
 /s/ Steven Dixon  
  Name:  Steven Dixon  
  Title:  Vice President   
       
 
 
HSBC BANK USA, NATIONAL ASSOCIATION,
as a Lender
 
       
 
By:
 /s/ Jean-Philippe Huguet  
  Name:  Jean-Philippe Huguet   
  Title:  Director   
       

 
PNC BANK, NATIONAL ASSOCIATION,
as a Lender
 
       
 
By:
 /s/ Christian S. Brown  
  Name:  Christian S. Brown   
  Title:  Senior Vice President   
       
                               
 
THE NORTHERN TRUST COMPANY,
as a Lender
 
       
 
By:
 /s/ Sara Bravo McCaulay  
  Name:  Sara Bravo McCaulay   
  Title:  Vice President   
       
 
 
WHITNEY BANK,
as a Lender
 
       
 
By:
 /s/ Mark R. Phillips  
  Name:  Mark R. Phillips   
       
       
 
ALBEMARLE CORPORATION
CONSENT LETTER (REVOLVER)
 
 
 

 

ACCEPTED AND AGREED AS OF THE DATE SET FORTH ABOVE:

COMPANY:
ALBEMARLE CORPORATION,
a Virginia corporation
 
       
 
By:
 /s/ Scott Tozier  
  Name: Scott Tozier   
  Title: Sr. VP and CFO   
       
 
BELGIAN BORROWER 
ALBEMARLE GLOBAL FINANCE COMPANY SCA
 
By: ALBEMARLE EUROPE SPRL,
as unlimited partner
 
       
 
By:
 /s/ Annemie Donkers  
  Name: Annemie Donkers   
  Title: Director   
       
                                                     
 
              
 
 
 
 
 
 
 
ALBEMARLE CORPORATION
CONSENT LETTER (REVOLVER)