<SEC-DOCUMENT>0000931148-15-000010.txt : 20150303
<SEC-HEADER>0000931148-15-000010.hdr.sgml : 20150303
<ACCEPTANCE-DATETIME>20150302180951
ACCESSION NUMBER:		0000931148-15-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20150227
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150303
DATE AS OF CHANGE:		20150302

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAFTECH INTERNATIONAL LTD
		CENTRAL INDEX KEY:			0000931148
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL INDUSTRIAL APPARATUS [3620]
		IRS NUMBER:				061385548
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13888
		FILM NUMBER:		15666367

	BUSINESS ADDRESS:	
		STREET 1:		12900 SNOW ROAD
		CITY:			PARMA
		STATE:			OH
		ZIP:			44130
		BUSINESS PHONE:		2166762000

	MAIL ADDRESS:	
		STREET 1:		12900 SNOW ROAD
		CITY:			PARMA
		STATE:			OH
		ZIP:			44130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UCAR INTERNATIONAL INC
		DATE OF NAME CHANGE:	19941011
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a8-kcreditagreementamendme.htm
<DESCRIPTION>8-K
<TEXT>
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		<title>8-K Credit Agreement Amendment Feb2015</title>
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<a name="s5b9f5fe4775446b98bbe638a686ec32f"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">Washington, D.C. 20549</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">CURRENT REPORT</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date of Report (Date of earliest event reported):</font><font style="font-family:inherit;font-size:8pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;February 27, 2015 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;"><img src="filinglogo.jpg" style="height:40px;width:344px;"></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-weight:bold;">GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Exact Name of Registrant as Specified in its Charter)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td width="33%"></td><td width="34%"></td><td width="33%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Delaware</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1-13888</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">27-2496053</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(State or Other</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Jurisdiction of Incorporation)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Commission File Number)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(I.R.S. Employer</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Identification Number)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:440px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td width="440px"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Suite 300 Park Center I</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">6100 Oak Tree Boulevard</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Independence, Ohio 44131</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Address of Principal Executive Offices, including Zip Code)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Registrant&#8217;s Telephone Number, including Area Code:</font><font style="font-family:inherit;font-size:8pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">216-676-2000</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">see</font><font style="font-family:inherit;font-size:8pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">General Instruction A.2. below):</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:12pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:95.3125%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="5%"></td><td width="95%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:12pt;"><font style="font-family:Wingdings;font-size:12pt;">o</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sac909f0dee4347a1b4151cbab55371a7"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 1.01.  Entry into a Material Definitive Agreement.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The disclosure set forth in Item 2.03 is incorporated herein by reference.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 2.03.  Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GrafTech International Ltd. (&#8220;GrafTech&#8221;) and certain of its subsidiaries (together with GrafTech, the &#8220;Company&#8221;) entered into an Amendment (the &#8220;Amendment&#8221;) to its Amended and Restated Credit Agreement, dated as of April 23, 2014, as amended by the First Amendment dated as of November 19, 2014 and as further amended by the Second Amendment dated as of December 19, 2014, with the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent, Issuing Bank and Swingline Lender (the &#8220;Credit Agreement&#8221;), to establish a senior secured delayed draw term loan facility in the aggregate principal amount of $40,000,000 (the &#8220;Term Facility&#8221;).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Term Facility is unconditionally guaranteed by the same guarantors that guarantee borrowings made by GrafTech Finance Inc. (&#8220;Finance&#8221;), a Delaware corporation and an indirect, wholly owned subsidiary of GrafTech, under the $400,000,000 senior secured revolving credit facility previously established under the Credit Agreement (the &#8220;Revolving Facility&#8221;) and is secured by the same collateral securing any borrowings made by Finance under the Revolving Facility.  The Term Facility permits voluntary prepayments without premium or penalty.  Amounts borrowed under the Term Facility that are repaid or prepaid may not be reborrowed.  The Term Facility and the Revolving Facility mature on the same date, April 23, 2019.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Term Facility will amortize in equal quarterly installments during each of the four periods set forth below, commencing on the last day of the first full fiscal quarter commencing on or after the date on which the loans under the Term Facility are drawn (the &#8220;Drawdown Date&#8221;).  The Term Facility will amortize in an amount for each such period equal to the following percentages of the aggregate principal amount of the Term Facility on the Drawdown Date: </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10% &#160;&#160;&#160;&#160;during the first full four-fiscal-quarter period commencing after the Drawdown Date; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15% &#160;&#160;&#160;&#160;during the second full four-fiscal-quarter period commencing after the Drawdown Date;  </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20% &#160;&#160;&#160;&#160;during the third full four-fiscal-quarter period commencing after the Drawdown Date;  and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55% &#160;&#160;&#160;&#160;thereafter, with the balance at maturity being treated as an equal quarterly installment.</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The commitment under the Term Facility expires on October 31, 2015.  All proceeds of the Term Facility will be used, along with other cash resources available to the Company, to prepay, redeem or repurchase GrafTech&#8217;s $200,000,000 Senior Subordinated Notes due November 30, 2015.  </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the Credit Agreement was amended to adjust interest rates and fees applicable to the Revolving Facility and to adjust the senior secured leverage ratio covenant.  The Company paid the lenders a customary fee for the Amendment.  Some of the lenders and their affiliates have performed and may in the future perform various commercial banking, investment banking and other financial advisory services for the Company for which they have received and will receive customary compensation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">T</font><font style="font-family:inherit;font-size:10pt;">he foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Second Amendment and Restatement Agreement filed as Exhibit 10.1 to this Current Report on Form 8-K.</font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sac909f0dee4347a1b4151cbab55371a7"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="11%"></td><td width="89%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 9.01.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial Statements and Exhibits.</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d) &#160; Exhibits.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="8%"></td><td width="92%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Second Amendment and Restatement Agreement dated as of February 27, 2015, among GrafTech International Ltd., GrafTech Finance Inc., GrafTech Luxembourg I S.&#224;.r.l., GrafTech Luxembourg II S.&#224;.r.l. and GrafTech Switzerland S.A.; the LC Subsidiaries (as defined therein) from time to time party thereto; and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, as an Issuing Bank and as Swingline Lender (as defined therein) (the Second Amended and Restated Credit Agreement dated as of February 27, 2015 is attached as Exhibit A).</font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.2</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2015 U.S. Reaffirmation Agreement dated as of February 27, 2015, among GrafTech International Ltd., GrafTech Finance Inc., GrafTech Luxembourg I S.&#224;.r.l., GrafTech Luxembourg II S.&#224;.r.l. and GrafTech Switzerland S.A.; the Subsidiaries party thereto; and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent.</font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.3</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2015 Luxembourg Reaffirmation Agreement dated as of February 27, 2015, among GrafTech International Holdings, Inc., GrafTech Luxembourg I S.&#224;.r.l., and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent. </font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Press release of GrafTech International Ltd., dated March 2, 2015.</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s3feed67b3f0944f68801c58e8cdf6788"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SIGNATURE</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td width="6%"></td><td width="44%"></td><td width="6%"></td><td width="44%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GRAFTECH INTERNATIONAL LTD.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date:</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 2, 2015</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/  John D. Moran</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">John D. Moran</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Vice President, General Counsel and Secretary</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s936a0a4b806c467c97fe5b17f8f43683"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">EXHIBIT INDEX</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="8%"></td><td width="92%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Number</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Description</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Second Amendment and Restatement Agreement dated as of February 27, 2015, among GrafTech International Ltd., GrafTech Finance Inc., GrafTech Luxembourg I S.&#224;.r.l., GrafTech Luxembourg II S.&#224;.r.l. and GrafTech Switzerland S.A.; the LC Subsidiaries (as defined therein) from time to time party thereto; and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, as an Issuing Bank and as Swingline Lender (as defined therein) (the Second Amended and Restated Credit Agreement dated as of February 27, 2015 is attached as Exhibit A).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2015 U.S. Reaffirmation Agreement dated as of February 27, 2015, among GrafTech International Ltd., GrafTech Finance Inc., GrafTech Luxembourg I S.&#224;.r.l., GrafTech Luxembourg II S.&#224;.r.l. and GrafTech Switzerland S.A.; the Subsidiaries party thereto; and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2015 Luxembourg Reaffirmation Agreement dated as of February 27, 2015, among GrafTech International Holdings, Inc., GrafTech Luxembourg I S.&#224;.r.l., and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent. </font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">99.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Press release of GrafTech International Ltd., dated March 2, 2015.</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1secondamendment.htm
<DESCRIPTION>EXHIBIT 10.1
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		<title>Exhibit10-1SecondAmendmentandRestatementAgreement27Feb2015</title>
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<a name="sB53F98A5F203563D5AA5DC8621D0235C"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:right;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECOND AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), relating to the AMENDED AND RESTATED CREDIT AGREEMENT dated as of April 23, 2014 (as amended to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), among GRAFTECH INTERNATIONAL LTD., a Delaware corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech</font><font style="font-family:inherit;font-size:12pt;">&#8221;); GRAFTECH FINANCE INC. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Finance</font><font style="font-family:inherit;font-size:12pt;">&#8221;); GRAFTECH LUXEMBOURG I S.&#192;.R.L. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GRAFTECH LUXEMBOURG II S.&#192;.R.L. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Holdco</font><font style="font-family:inherit;font-size:12pt;">&#8221;); GRAFTECH SWITZERLAND S.A. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swissco</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with Finance and Luxembourg Holdco, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrowers</font><font style="font-family:inherit;font-size:12pt;">&#8221;); the LC SUBSIDIARIES from time to time party thereto; the other SUBSIDIARIES from time to time party thereto; the LENDERS and ISSUING BANKS from time to time party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent, Collateral Agent, Issuing Bank and Swingline Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Lenders under the Existing Credit Agreement have agreed to extend credit to the Borrowers on the terms and subject to the conditions set forth therein; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the parties hereto have agreed (i) to establish a new term facility in an aggregate principal amount not to exceed $50,000,000, (ii) to provide for certain modifications in the interest rate margins and fees under the Existing Credit Agreement, (iii) to adjust the maximum levels permitted under the GrafTech Senior Secured Leverage Ratio, (iv) to provide for the naming of additional Swingline Lenders and to make certain other modifications to the swingline facility and (v) to amend certain other provisions of the Existing Credit Agreement as set forth herein;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 1.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defined Terms.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Capitalized terms used but not otherwise defined herein (including in the recitals hereto) have the meanings assigned to them in the Second Restated Credit Agreement (as defined below).  </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 2.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment and Restatement of the Existing Credit Agreement.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;Effective as of the Second Restatement Effective Date, the Existing Credit Agreement (including the Schedules and Exhibits thereto) is amended and restated in its entirety in the form attached as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto (the Existing Credit Agreement, as so amended and restated, being referred to as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Second Restated Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  Each financial institution party hereto that is not a party to the Existing Credit Agreement, but whose name appears on Schedule 2.01 to the Second Restated Credit </font></div><br><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sB53F98A5F203563D5AA5DC8621D0235C"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></div><br><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;">Agreement, acknowledges and agrees that, on and as of the Second Restatement Effective Date, it shall be a Lender under the Second Restated Credit Agreement and shall have a Commitment as set forth next to its name on such Schedule 2.01.  Each financial institution named as an Issuing Bank or a Swingline Lender in the Second Restated Credit Agreement that did not act in such capacity under the Existing Credit Agreement acknowledges and agrees that, from and after the Second Restatement Effective Date, it shall be an Issuing Bank or a Swingline Lender, as the case may be, under the Second Restated Credit Agreement and shall have an LC Commitment or a Swingline Commitment, as applicable, as set forth therein.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 3.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Representations and Warranties.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;To induce the other parties hereto to enter into this Agreement, GrafTech and the Borrowers represent and warrant to such other parties that, on and as of the Second Restatement Effective Date:</font></div><div style="line-height:120%;padding-left:30px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(a)  </font><font style="font-family:inherit;font-size:12pt;">This Agreement has been duly authorized, executed and delivered by GrafTech, the Borrowers and each LC Subsidiary and each of this Agreement and the Second Restated Credit Agreement constitutes GrafTech&#8217;s, each Borrower&#8217;s and each LC Subsidiary&#8217;s legal, valid and binding obligation, enforceable against GrafTech, each Borrower and each LC Subsidiary in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors&#8217; rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.</font></div><div style="line-height:120%;padding-left:30px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(b)  </font><font style="font-family:inherit;font-size:12pt;">The representations and warranties set forth in Article III of the Second Restated Credit Agreement are true and correct on and as of the Second Restatement Effective Date (i) in the case of any representation and warranty that is qualified by materiality, in all respects, and (ii) otherwise, in all material respects, except to the extent they expressly and exclusively relate to an earlier date in which case such representations and warranties shall be true and correct (x) in the case of any representation and warranty that is qualified by materiality, in all respects and (y) otherwise, in all material respects, as of such earlier date.</font></div><div style="line-height:120%;padding-left:30px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(c)  </font><font style="font-family:inherit;font-size:12pt;">On the Second Restatement Effective Date, after giving effect to this Agreement and the transactions contemplated hereby, no Default or Event of Default has occurred and is continuing.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 4.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effectiveness.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The amendment and restatement of the Existing Credit Agreement in the form of the Second Restated Credit Agreement shall become effective on the date (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Second Restatement Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;) on which the following conditions shall have been satisfied:</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(i)  </font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent (or its counsel on its behalf) shall have received from each Loan Party that is party hereto, each Term Lender and Revolving Lenders constituting the Required Lenders under the Existing Credit Agreement either (A)&#160;a counterpart of this Agreement signed on behalf of such </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sB53F98A5F203563D5AA5DC8621D0235C"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></div><br><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;">party or (B)&#160;written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(ii)  </font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received from GrafTech International Holdings Inc. and Luxembourg Parent an executed counterpart of the 2015 Luxembourg Reaffirmation Agreement dated the date hereof, in form and substance reasonably satisfactory to the Administrative Agent and its counsel. </font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(iii)  </font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received a 2015 U.S. Reaffirmation Agreement in the form of Exhibit L-2 to the Second Restated Credit Agreement, executed by each of the parties thereto.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(iv)  </font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent, the Collateral Agent, the Lenders and the Issuing Banks and dated the Second Restatement Effective Date) of each of (i)&#160;Kelley Drye &amp; Warren LLP, counsel for GrafTech and the Borrowers, (ii)&#160;the General Counsel of GrafTech and the Borrowers and (iii) LG@vocats, local counsel for Luxembourg Parent and Luxembourg Holdco, in each case in a form reasonably satisfactory to the Administrative Agent and covering such matters relating to the Loan Parties, the Loan Documents or the Transactions as the Administrative Agent or the Required Lenders shall reasonably request.  Each of GrafTech and the Borrowers hereby requests such counsel to deliver such opinions.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(v)  </font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Loan Party and LC Subsidiary, the authorization of the Transactions and any other legal matters relating to the Loan Parties and LC Subsidiaries, the Loan Documents or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(vi)  </font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received a certificate of GrafTech, dated the Second Restatement Effective Date and signed by the President, a Vice President or a Financial Officer of GrafTech, confirming compliance as of the Restatement Effective Date with the conditions set forth in paragraphs&#160;(a) and (b) of Section 4.02 of the Second Restated Credit Agreement and with paragraph (ix) below.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(vii)  </font><font style="font-family:inherit;font-size:12pt;">The Collateral and Guarantee Requirement shall have been satisfied and the Administrative Agent shall have received an updated Perfection Certificate dated the Second Restatement Effective Date and signed by a Responsible Officer or Financial Officer of GrafTech, in form and substance reasonably satisfactory to the Administrative Agent, together with all attachments contemplated thereby, including the results of a search of Uniform Commercial </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sB53F98A5F203563D5AA5DC8621D0235C"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></div><br><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;">Code (or equivalent) filings made with respect to GrafTech, Finance and the other Domestic Subsidiaries in the jurisdictions contemplated by such Perfection Certificate and copies of the financing statements (or similar documents) disclosed by such search and evidence reasonably satisfactory to the Administrative Agent that the Liens indicated by such financing statements (or similar documents) are permitted by Section 6.02 of the Second Restated Credit Agreement or have been released</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(viii)  </font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received, in immediately available funds, all fees and other amounts due and payable on or prior to the Second Restatement Effective Date, including (A) to the extent invoiced, reimbursement or payment of all out-of-pocket expenses (including fees, charges and disbursements of counsel) required to be reimbursed or paid by any Loan Party hereunder or under any other Loan Document, (B) for the account of each Term Lender, an upfront fee in an amount equal to 0.375% of the aggregate principal amount of such Lender&#8217;s Term Commitment as of the Second Restatement Effective Date, and (C) for the account of each Revolving Lender that shall have delivered an executed counterpart hereof by no later than 5:00 p.m., New York City time on February 25, 2015, an amendment fee equal to 0.125% of the aggregate principal amount of such Lender&#8217;s Revolving Commitment immediately prior to the Second Restatement Effective Date.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(ix)  </font><font style="font-family:inherit;font-size:12pt;">All requisite material Governmental Authorities and material third parties shall have approved or consented to the Transactions and the other transactions contemplated hereby to the extent required and all applicable appeal periods shall have expired.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(x)  </font><font style="font-family:inherit;font-size:12pt;">Each Lender under the Existing Credit Agreement shall have received all interest, fees and other amounts owing to it or accrued for its account to the Second Restatement Effective Date under the Existing Credit Agreement, whether or not at the time due and payable under the terms of the Existing Credit Agreement.</font></div><div style="line-height:120%;padding-left:48px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">(xi)  </font><font style="font-family:inherit;font-size:12pt;">The Lenders shall have received all documentation and other information with respect to GrafTech and the other Loan Parties required by bank regulatory authorities under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the USA Patriot Act. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 5.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Qualifying Bank</font><font style="font-family:inherit;font-size:12pt;">.  Each of the Revolving Lenders party hereto confirms that, as of the Second Restatement Effective Date, such Lender is a Qualifying Bank.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 6.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Post-Closing Agreements.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;(a) </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Real Estate Matters.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each of GrafTech and the Borrowers shall, and shall cause each of the Subsidiaries to, deliver to the Collateral Agent as soon as practicable and in any event no later than 60 Business Days after the Second Restatement Effective Date (or such later date as shall be </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sB53F98A5F203563D5AA5DC8621D0235C"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></div><br><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;">acceptable to the Administrative Agent in its sole discretion), (a) an amendment to each of the Mortgages encumbering the Mortgaged Properties owned by GrafTech or any Domestic Subsidiary in form suitable for recording that shall provide that such Mortgage secures the Obligations (as defined in the Second Restated Credit Agreement) and which shall be in form and substance reasonably acceptable to the Administrative Agent and its counsel in all respects, (b) a datedown or modification (or equivalent) endorsement in respect of mortgagee&#8217;s title policy in respect of each such Mortgaged Property (or, with respect to the mortgage title policies insuring the Mortgaged Properties located in Pennsylvania, such other evidence as is reasonably satisfactory to the Administrative Agent) reflecting that the applicable Mortgage (as amended) continues to provide a first priority lien on such Mortgaged Property (subject to Permitted Liens) and that there are no encumbrances affecting such Mortgaged Property except as permitted by Section 6.02 of the Credit Agreement, and otherwise in form and substance reasonably satisfactory to the Administrative Agent and (c) such further documents, instruments, acts or agreements as the Administrative Agent may reasonably request to affirm, secure, renew or perfect the liens of the Mortgages on such Mortgaged Properties. All of the actions referenced above shall be taken, and documents referenced above shall be delivered, at the sole expense of GrafTech and the Borrowers, including any recording charges, taxes, or other associated costs related thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#0070c0;"></font><font style="font-family:inherit;font-size:12pt;">(b)  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Foreign Collateral Matters.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;As soon as practicable and in any event no later than 30 Business Days after the Second Restatement Effective Date (or such later date as shall be acceptable to the Administrative Agent in its sole discretion), (a) (i) each of Swissco, GrafTech International Holdings and the Administrative Agent shall have executed an Amendment and Reaffirmation of the Pledge of Shares by Swissco and GrafTech International Holdings of the shares in GrafTech Iberica S.L. and (ii) each of Swissco and the Administrative Agent shall have executed an Amendment and Reaffirmation of the Pledge of Shares by Swissco of the shares in GrafTech Comercial Navarro S.L., in each case in form and substance reasonably satisfactory to the Administrative Agent and (b) each of Swissco and GrafTech International Holdings shall have executed such further documents, instruments or agreements or taken such actions as the Administrative Agent may reasonably request to affirm, secure, renew or perfect the Liens of the shares of GrafTech Iberica S.L. or GrafTech Comercial Navarro S.L., as applicable,  including the notarization of any documents required under local law, the annotations of the pledges in any shareholders registry and the delivery of a legal opinion in form and substance reasonably satisfactory to the Administrative Agent. All of the actions referenced above shall be taken, and documents referenced above shall be delivered, at the sole expense of GrafTech and the Borrowers, including any recording charges, taxes, or other associated costs related thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Intellectual Property Matters.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each of GrafTech and the Borrowers shall, and shall cause each of the applicable Subsidiaries to, deliver to the Collateral Agent as soon as practicable and in any event no later than 60 Business Days after the Second Restatement Effective Date (or such later date as shall be acceptable to the Administrative Agent in its sole discretion), (a) a short-form trademark, patent or </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sB53F98A5F203563D5AA5DC8621D0235C"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6</font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">copyright security agreement, as applicable, and a supplement to an Intellectual Property Security Agreement with respect to any new Grantors of Intellectual Property, encumbering any Intellectual Property owned by GrafTech, the Borrowers or such Subsidiaries in form suitable for recording that shall provide that the security interest granted under such agreement secures the Obligations (as defined in the Second Restated Credit Agreement) and which shall be in form and substance reasonably acceptable to the Administrative Agent and its counsel in all respects and (b) such further documents, instruments, acts or agreements as the Administrative Agent may reasonably request to affirm, secure, renew or perfect the Liens of the security interest in such Intellectual Property. All of the actions referenced above shall be taken, and documents referenced above shall be delivered, at the sole expense of GrafTech and the Borrowers, including any recording charges or other associated costs related thereto. </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 7.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effect of Amendment.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Except as expressly set forth herein and in the Second Restated Credit Agreement, this Agreement and the Second Restated Credit Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights or remedies of the Lenders or the Administrative Agent under the Existing Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  This Agreement shall constitute a &#8220;Loan Document&#8221; for all purposes of the Second Restated Credit Agreement and the other Loan Documents.  On and after the Restatement Effective Date, any reference to the Existing Credit Agreement contained in the Loan Documents shall mean the Second Restated Credit Agreement.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 8.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Costs and Expenses.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The Borrowers agree to reimburse each of the Administrative Agent and J.P. Morgan Securities LLC for its reasonable out-of-pocket expenses in connection with this Agreement and the transactions contemplated hereby, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent and J.P. Morgan Securities LLC.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 9.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Counterparts.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;This Agreement may be executed in any number of counterparts, each of which shall constitute an original, but all of which taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 10.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Novation.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Neither this Agreement nor the effectiveness of the Second Restated Credit Agreement shall extinguish the Obligations for the payment of money outstanding under the Existing Credit Agreement or discharge or release, or affect the priority of, the Lien of any Loan Document or any other security therefor or any guarantee thereof, and the liens and security interests in favor of the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sB53F98A5F203563D5AA5DC8621D0235C"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></div><br><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;">Administrative Agent for the benefit of the Secured Parties securing payment of the Obligations are in all respects continuing and in full force and effect with respect to all Obligations.  Nothing herein contained shall be construed as a substitution or novation, or a payment and reborrowing, or a termination, of the Obligations outstanding under the Existing Credit Agreement or instruments guaranteeing or securing the same, except as amended, amended and restated or modified hereby or by instruments executed concurrently herewith.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 11.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governing Law.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW&#160;YORK.  </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">SECTION 12.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Headings.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The headings of this Agreement are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s6965A53D64FE7E67C5A4DC86220EF341"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:248px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:57.17592592592593%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="26%"></td><td width="74%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH INTERNATIONAL LTD.,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Quinn J. 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Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Attorney-in-Fact</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH CANADA ULC,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">as LC Subsidiary,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Treasurer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s69F71B36F96A6DE81F4ADC86221EA61B"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH S.P.A.,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">as LC Subsidiary,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Attorney-in-Fact</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sD6275831B97AE499E0C2DC86225CDBBF"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SEADRIFT COKE L.P.,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">as LC Subsidiary,</font></div><div style="padding-bottom:16px;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by GRAFTECH SEADRIFT HOLDING CORP., as General Partner</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Vice President and Treasurer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH USA LLC,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">as LC Subsidiary,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Vice President and Treasurer</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s904B384F1A96DD897CEADC86227C24AD"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015, </font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to the GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To approve this Second Amendment and Restatement Agreement:</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Institution: BANK OF AMERICAN, N.A.</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Sandra Guerrieri</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Sandra Guerrieri</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Vice President</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For any Lender requiring a second signature line:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s904B384F1A96DD897CEADC86227C24AD"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015, </font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to the GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To approve this Second Amendment and Restatement Agreement:</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Institution: COMPASS BANK</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Sandra Centa</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Sandra Centa</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Senior Vice President</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For any Lender requiring a second signature line:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s904B384F1A96DD897CEADC86227C24AD"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015, </font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to the GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To approve this Second Amendment and Restatement Agreement:</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Institution: PNC BANK, N.A.</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Andrew M. Rutherford</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Andrew M. Rutherford</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Vice President</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For any Lender requiring a second signature line:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s904B384F1A96DD897CEADC86227C24AD"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015, </font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to the GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To approve this Second Amendment and Restatement Agreement:</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Institution: FIFTH THIRD BANK</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Martin H. McGinty</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Martin H. McGinty</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Vice President</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For any Lender requiring a second signature line:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s904B384F1A96DD897CEADC86227C24AD"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015, </font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to the GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To approve this Second Amendment and Restatement Agreement:</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Institution: THE HUNTINGTON NATIONAL BANK</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Brian H. Gallagher</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Brian H. Gallagher</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Senior Vice President</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For any Lender requiring a second signature line:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s904B384F1A96DD897CEADC86227C24AD"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015, </font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to the GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To approve this Second Amendment and Restatement Agreement:</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Institution: US BANK NATIONAL ASSOCIATION</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Mark Irey</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Mark Irey</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Vice President</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For any Lender requiring a second signature line:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s904B384F1A96DD897CEADC86227C24AD"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">AMENDMENT AND RESTATEMENT AGREEMENT dated as of February 27, 2015, </font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to the GRAFTECH INTERNATIONAL LTD.</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CREDIT AGREEMENT</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">To approve this Second Amendment and Restatement Agreement:</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Institution: BANQUE CANTONALE VAUDOISE</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/  Eric Longchamp</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Eric Longchamp</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   FVP</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For any Lender requiring a second signature line:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.54629629629629%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Olivier Deurin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Olivier Deurin</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Vice President </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">[SIGNATURE PAGE TO SECOND AMENDMENT AND RESTATEMENT AGREEMENT (2015)]</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s68C05704607FA076F55DDC8622AA3655"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Exhibit A</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td width="100%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;text-align:center;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECOND AMENDED AND RESTATED CREDIT AGREEMENT</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">&#160;</sup></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">dated as of</font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">February 27, 2015,</font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">among</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH INTERNATIONAL LTD.</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH FINANCE INC.</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH LUXEMBOURG I S.&#192;.R.L.</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">GRAFTECH LUXEMBOURG II S.&#192;.R.L.</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH SWITZERLAND S.A.</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The LC Subsidiaries</font></div><div style="padding-bottom:32px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Party Hereto</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">&#160;<br>The Lenders Party Hereto</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">&#160;<br>JPMORGAN CHASE BANK, N.A. <br>as Administrative Agent</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">&#160;<br>BANK OF AMERICA, N.A.,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">BNP PARIBAS <br>as Co-Syndication Agents</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">&#160;<br>WELLS FARGO BANK, N.A. <br>THE ROYAL BANK OF SCOTLAND PLC <br>as Documentation Agents</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">&#160;<br>J.P. MORGAN SECURITIES LLC <br>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">BNP PARIBAS SECURITIES CORP. <br>as Joint-Lead Arrangers</font></div><div style="padding-bottom:8px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">[CS&amp;M Ref. No. 6701&#8209;457]</font></div><a name="s1A56E7EABC37E1FE544EDC8622CAC7EB"></a><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><hr style="page-break-after:always"><a name="sC96C13444A89E35344A8DC862308CCCC"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">TABLE OF CONTENTS</font></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Page</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE I <br> Definitions</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 1.01.  Defined Terms                                                                              1</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 1.02.  Classification of Loans and Borrowings                                    45</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 1.03.  Terms Generally                                                                         46</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 1.04.  Accounting Terms; GAAP                                                         46</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 1.05.  Exchange Rates                                                                          47</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 1.06.  Status of Obligations                                                                  48</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE II <br> The Credits</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.01.  Commitments                                                                             49</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.02.  Loans and Borrowings                                                               49</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.03.  Requests for Borrowings                                                           50</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.04.  Evidence of Debt                                                                       51</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.05.  Letters of Credit                                                                         51</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.06.  Funding of Borrowings                                                              58</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.07.  Interest Elections                                                                        59</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.08.  Termination and Reduction of Commitments                            60</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.09.  Repayment of Loans                                                                  61</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.10.  Amortization of Term Loans                                                      61</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.11.  Prepayment of Loans                                                                  62</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.12.  Fees                                                                                            63</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.13.  Interest                                                                                       64</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.14.  Alternate Rate of Interest                                                           66</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.15.  Increased Costs                                                                          66</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.16.  Break Funding Payments                                                           68</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.17.  Taxes                                                                                          68</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.18.  Payments Generally; Pro Rata Treatment; Sharing of Setoffs   74</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.19.  Mitigation Obligations; Replacement of Lenders                      75</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.20.  Swingline Loans                                                                         77</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 2.21.  Defaulting Lenders                                                                     78</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE III <br>Representations and Warranties</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.01.  Organization; Powers                                                                 83</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.02.  Authorization                                                                              83</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.03.  Enforceability                                                                             84</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.04.  Governmental Approvals                                                           84</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.05.  Financial Statements                                                                  84</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.06.  No Material Adverse Change                                                     84</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.07.  Title to Properties; Possession Under Leases                             85</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.08.  Subsidiaries                                                                                85</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.09.  Litigation; Compliance with Laws                                             85</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.10.  Agreements                                                                                 86</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.11.  Federal Reserve Regulations                                                      86</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.12.  Investment Company Act                                                           87</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">i</font></div></div><hr style="page-break-after:always"><a name="sC96C13444A89E35344A8DC862308CCCC"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.13.  Use of Proceeds                                                                          87</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.14.  Tax Returns                                                                                87</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.15.  No Material Misstatements                                                        87</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.16.  Employee Benefit Plans                                                             88</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.17.  Environmental Matters                                                               88</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.18.  Capitalization of GrafTech and the Borrowers                          90</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.19.  Security Documents                                                                   90</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.20.  Labor Matters                                                                             91</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.21.  Insurance                                                                                    91</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.22.  Location of Real Property and Leased Premises                       91</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 3.23.  Senior Debt Status                                                                     92</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE IV <br> Conditions</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 4.01.  Restatement Effective Date                                                        92</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 4.02.  Each Credit Event                                                                      92</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 4.03.  LC Subsidiaries                                                                          92</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 4.04.  Drawdown Date                                                                         93</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE V <br> Affirmative Covenants</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.01.  Existence; Businesses and Properties; Compliance with Laws 94</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.02.  Insurance                                                                                    95</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.03.  Taxes; Other Claims                                                                   96</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.04.  Financial Statements, Reports, etc                                             97</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.05.  Litigation and Other Notices                                                    100</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.06.  Employee Benefits                                                                   101</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.07.  Maintaining Records; Access to Properties and Inspections   101</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.08.  Use of Proceeds                                                                        101</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.09.  Compliance with Environmental Laws                                    102</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.10.  Preparation of Environmental Reports                                     102</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.11.  Further Assurances                                                                   102</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.12.  Significant Subsidiaries                                                            103</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.13.  Certain Accounting Matters                                                     103</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.14.  Dividends                                                                                 103</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.15.  Corporate Separateness                                                            103</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.16.  Compliance with Swiss Withholding Tax Rules                      103</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 5.17.  Maintenance of Ratings                                                           103</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE VI <br> Negative Covenants</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.01.  Indebtedness; Certain Hedges; Certain Equity Securities        104</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.02.  Liens; Sales of Certain Assets                                                  109</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.03.  Sale and Lease-Back Transactions                                           113</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.04.  Investments, Loans, Advances and Acquisitions                     113</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.05.  Mergers, Consolidations, Sales of Assets and Acquisitions     117</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.06.  Dividends and Distributions                                                     120</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.07.  Transactions with Affiliates                                                     122</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ii</font></div></div><hr style="page-break-after:always"><a name="sC96C13444A89E35344A8DC862308CCCC"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.08.  Business of GrafTech, the Borrowers and the Subsidiaries     123</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.09.  Indebtedness and Other Material Agreements                         123</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.10.  Interest Coverage Ratio                                                            125</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.11.  GrafTech Senior Secured Leverage Ratio                                125</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.12.  Capital Stock of the Subsidiaries                                             126</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 6.13.  Swissco                                                                                    126</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE VII <br> Events of Default</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE VIII <br> The Agents</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE IX <br> Miscellaneous</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.01.  Notices                                                                                     133</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.02.  Waivers; Amendments; Loan Modification Offers                  134</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.03.  Expenses; Indemnity; Damage Waiver                                    137</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.04.  Successors and Assigns                                                            138</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.05.  Survival                                                                                    141</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.06.  Integration; Effectiveness                                                        142</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.07.  Severability                                                                              142</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.08.  Right of Setoff                                                                          142</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.09.  Governing Law; Jurisdiction; Consent to Service of Process  142</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.10.  WAIVER OF JURY TRIAL                                                     143</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.11.  Headings                                                                                   143</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.12.  Confidentiality                                                                         143</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.13.  Interest Rate Limitation                                                           144</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.14.  Release of Liens and Guarantees                                             144</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.15.  Conversion of Currencies                                                        145</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.16.  USA Patriot Act                                                                       145</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.17.  No Fiduciary Relationship                                                       145</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.18.  Non-Public Information; Platform                                          146</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.19.  Excluded Swap Obligations                                                    146</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.20.  No Novation                                                                            148</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">SECTION 9.21.  No Class Oppression                                                               148</font></div><div style="line-height:120%;text-align:left;padding-left:120px;text-indent:-120px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Exhibits to the Credit Agreement  </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit A</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Assignment and Assumption</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit B</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Domestic Pledge Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit C</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Domestic Guarantee Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit D</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Indemnity, Subrogation and Contribution Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit E</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Borrowing Request</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit F&#8209;1</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of LC Subsidiary Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit F&#8209;2</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of LC Subsidiary Termination</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit G</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Security Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit H</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Intellectual Property Security Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit I-1</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Revolving Note</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit I-2</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Term Loan Note</font></div></td></tr></table><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">iii</font></div></div><hr style="page-break-after:always"><a name="sC96C13444A89E35344A8DC862308CCCC"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit J</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of European Guarantee and Luxembourg Security Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit K</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Perfection Certificate</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit L-1</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of Reaffirmation Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit L-2</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of 2015 U.S. Reaffirmation Agreement</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit M-1</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of U.S. Tax Compliance Certificate</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit M-2</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of U.S. Tax Compliance Certificate</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit M-3</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of U.S. Tax Compliance Certificate</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Exhibit M-4</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Form of U.S. Tax Compliance Certificate</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Schedules to the Credit Agreement</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 1.01</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">LC Subsidiaries</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 2.01</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Lenders and Commitments</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 2.20</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Swingline Commitments</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.08</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Subsidiaries</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.14</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Taxes</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.17</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Environmental Matters</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.18</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Capitalization of GrafTech and the Borrowers</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.19(d)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Recording Offices for Mortgages</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.20</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Labor Matters</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.22(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Owned Real Property</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 3.22(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Leased Real Property</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 6.01</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Existing Indebtedness</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 6.02</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Existing Liens</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 6.04</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Investments</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 6.07</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Transactions Pursuant to Permitted Agreements in Existence on Restatement Effective Date</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:0px;"><font style="font-family:inherit;font-size:11pt;">Schedule 6.09</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Restrictive Agreements</font></div></td></tr></table><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">iv</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:32px;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of February 27, 2015, among GRAFTECH INTERNATIONAL LTD.; GRAFTECH FINANCE INC.; GRAFTECH LUXEMBOURG I S.&#192;.R.L.; GRAFTECH LUXEMBOURG II S.&#192;.R.L.;  GRAFTECH SWITZERLAND S.A.; the LC SUBSIDIARIES from time to time party hereto; the LENDERS from time to time party hereto; and JPMORGAN CHASE BANK, N.A., as Administrative Agent and Collateral Agent, as an Issuing Bank and as a Swingline Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">On the Second Restatement Effective Date, the Existing Credit Agreement was amended and restated in the form of this Agreement and in connection therewith (a) the Term Lenders agreed to provide Term Commitments under which Finance may, on the terms and subject to the conditions of this Agreement, borrow Term Loans in an aggregate principal amount not to exceed $50,000,000 and (b) the revolving credit facilities provided for in the Existing Credit Agreement were continued and modified such that the Borrowers (and, to the extent provided herein, the LC Subsidiaries) may obtain Revolving Loans in Euros and Dollars and Letters of Credit in Euros, Dollars and other currencies specified herein from time to time in an aggregate principal or stated amount of up to $400,000,000 at any time outstanding; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that Swissco shall not be entitled to borrow Revolving Loans under this Agreement and shall be entitled to request Letters of Credit hereunder only for its own use (but as to Revolving Loans and Letters of Credit made or issued for its account outstanding on the Second Restatement Effective Date shall continue to be, and to have all the obligations of, a Borrower hereunder).  All proceeds of the Term Loans will be used to prepay, redeem or repurchase Senior Subordinated Notes.  Letters of Credit and the proceeds of Revolving Loans will be used for working capital and other general corporate purposes, including the financing of capital expenditures and permitted acquisitions; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the proceeds of Revolving Loans to be used by any Foreign Subsidiary will be borrowed by Luxembourg Holdco and lent to such Foreign Subsidiary and the proceeds of Revolving Borrowings by Finance will only be used in the business of GrafTech and the Domestic Subsidiaries conducted in the United States.  The Lenders are willing to provide such credit facilities upon the terms and subject to the conditions set forth herein.  Accordingly, the parties hereto agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:center;"><font style="padding-bottom:16px;text-align:center;font-family:inherit;font-size:11pt;padding-right:0px;">ARTICLE I</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Definitions</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defined Terms.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;As used in this Agreement, the following terms have the meanings specified below:  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2012 Senior Notes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the 6.375% Senior Notes due 2020 of GrafTech issued on November 20, 2012, in an original aggregate principal amount of $300,000,000.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2012 Senior Notes Indenture</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Indenture dated as of November 20, 2012, among GrafTech International Ltd., the subsidiary guarantors party thereto and U.S. Bank National Association, as Trustee, under which the 2012 Senior Notes were issued.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Accepting Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 9.02(c).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Adjusted Applicable Percentage</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, with respect to any Lender, the percentage of the total Revolving Commitments (excluding the Revolving Commitment of any Defaulting Lender) represented by such Lender&#8217;s Revolving Commitment at such time.  If the Revolving Commitments have been terminated or expired, the Adjusted Applicable Percentages shall be determined based upon the Revolving Commitments most recently in effect, giving effect to any assignments.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Adjusted LIBO Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean with respect to any Eurocurrency Borrowing denominated in Dollars for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean JPMorgan Chase Bank, N.A., in its capacity as administrative agent for the Lenders hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Administrative Questionnaire</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean an administrative questionnaire in a form supplied by the Administrative Agent. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Affected Class</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 9.02(c).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">affected party</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 9.22.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Affiliate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, when used with respect to a specified person, another person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the person specified.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agents</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, collectively, the Administrative Agent and the Collateral Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Aggregate Revolving Commitment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the sum of the Revolving Commitments of all the Revolving Lenders.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Aggregate Revolving Exposure</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the sum of the Revolving Exposures of all the Revolving Lenders.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean this Second Amended and Restated Credit Agreement, as it may be amended, restated or otherwise modified from time to time.  </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Alternative Currency</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any currency other than Dollars that is freely available, freely transferable and freely convertible into Dollars and in which dealings in deposits are carried on in the London interbank market, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that, at the time of the issuance, amendment, renewal or extension of any Letter of Credit denominated in a currency other than Dollars, Euros, Sterling and Swiss Francs, such other currency is reasonably acceptable to the Administrative Agent and each Issuing Bank.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Alternative Currency LC Exposure</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, the sum of (a) the US Dollar Equivalents of the aggregate undrawn and unexpired amount of all outstanding Alternative Currency Letters of Credit at such time, plus (b) the US Dollar Equivalents of the aggregate principal amount of all LC Disbursements in respect of Alternative Currency Letters of Credit that have not yet been reimbursed at such time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Alternative Currency Letter of Credit</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Letter of Credit denominated in an Alternative Currency.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment and Restatement Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Amendment and Restatement Agreement dated as of April 23, 2014, among GrafTech, Finance, Swissco, Luxembourg Parent, Luxembourg Holdco, the LC Subsidiaries party thereto, the lenders party thereto and the Administrative Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Anti-Corruption Laws</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean all laws, rules, and regulations of any jurisdiction applicable to the Company or its Subsidiaries from time to time concerning or relating to bribery, money laundering or corruption.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Applicable Office</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;with respect to a Loan or Borrowing or Letter of Credit denominated in Euros, the office of the Administrative Agent from time to time specified by the Administrative Agent as the Applicable Office therefor and (b) with respect to any other Loan or Borrowing or Letter of Credit, the office of the Administrative Agent from time to time specified by the Administrative Agent as the Applicable Office therefor.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Applicable Percentage</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, with respect to any Revolving Lender, the percentage of the Aggregate Revolving Commitment represented by such Lender&#8217;s Revolving Commitment at such time.  If the Revolving Commitments have been terminated or expired, the Applicable Percentages shall be determined based upon the Revolving Commitments most recently in effect, after giving effect to any assignments.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Applicable Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, for any day, with respect to (a)&#160;any Loan or (b)&#160;the commitment fees payable hereunder, the applicable rate per annum set forth under the appropriate caption in the table below, in each case based upon the GrafTech Senior Secured Leverage Ratio as of the most recent determination date:</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:85.64814814814815%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td width="34%"></td><td width="21%"></td><td width="21%"></td><td width="24%"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">GrafTech Senior Secured Leverage Ratio/</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Ratings:</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Eurocurrency</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">and Euro Swingline <br>Spread</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Base Rate <br>Spread</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitment Fee <br>Rate</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Category 1</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&gt;2.75</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.750%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.750%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">0.500%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Category 2</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8804;2.75 and &gt;2.25</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.500%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.500%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">0.500%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Category 3</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;<br>&#8804;2.25 and &gt;1.75</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.250%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.250%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">0.450%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Category 4</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8804;1.75 and &gt;1.25</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.000%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.000%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">0.400%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Category 5</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8804;1.25</font></div><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.250%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.250%</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">0.350%</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Except as set forth below, the GrafTech Senior Secured Leverage Ratio used on any date to determine the Applicable Rate shall be that in effect at the fiscal quarter end next preceding the Financial Statement Delivery Date occurring on or most recently prior to such date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that at any time when any Financial Statement Delivery Date shall have occurred and the financial statements or the certificate required to have been delivered under Section&#160;5.04(a), (b) or (c) by such Financial Statement Delivery Date shall not have been delivered, the Applicable Rate shall be determined by reference to Category&#160;1 in the table above.  Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Arranger</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean each of J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner &amp; Smith Incorporated and BNP Paribas Securities Corp.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Assignment and Assumption</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean an assignment and assumption agreement entered into and duly completed by a Lender and an assignee (with the consent of any party whose consent is required by Section&#160;9.04), and accepted by the Administrative Agent, in the form of Exhibit&#160;A or any other form approved by the Administrative Agent.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Availability Condition</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean at any time that the total aggregate amount of the Available Commitments then in effect shall exceed the total aggregate amount of the Revolving Exposures by at least $100,000,000. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Available Commitment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any  Revolving Lender at any time, an amount equal to such Lender&#8217;s Revolving Commitment at such time, minus an amount equal to such Lender&#8217;s Applicable Percentage of any portion of the Revolving Commitments subject to a block as contemplated by the proviso to the definition of Disposition Pending Reinvestment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Available Disposition Proceeds</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, the aggregate amount at such time of the Net Proceeds of all Dispositions Pending Reinvestment made after the Restatement Effective Date, net of the amount of all such Net Proceeds used since the Restatement Effective Date to reinvest pursuant to Capital Expenditures or Permitted Subsidiary Investments (of which not more than $60,000,000 may be invested in Permitted Subsidiary Investments that are not Permitted Acquisitions) in assets useful in the business (including any new business) of GrafTech and the Subsidiaries (including by way of a purchase of a business or line of business or a purchase of Capital Stock of any person holding such assets or business).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Base Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate in effect on such day (but in no event less than zero) plus &#189; of 1% per annum and (c) the Adjusted LIBO Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in Dollars with a maturity of one month plus 1% per annum.  For purposes of clause (c) above, the Adjusted LIBO Rate on any day shall be based on the rate per annum appearing on the Reuters Screen LIBOR01 Page displaying interest rates for Dollar deposits in the London interbank market (or on any successor or substitute screen provided by Reuters, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such screen, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, on such day for deposits in Dollars with a maturity of one month.  Any change in the Base Rate due to a change in the Prime Rate, the Federal Funds Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Rate or the Adjusted LIBO Rate, respectively.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Board of Governors of the Federal Reserve System of the United&#160;States of America.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean each of (a) Finance, (b) Swissco (subject to the limitations set forth in Section 2.01) and (c) Luxembourg Holdco.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrowing</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Loans of the same Class, Type and currency, made, converted or continued on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrowing Minimum</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;in the case of a Borrowing other than a Swingline Borrowing, if denominated in Euros, &#8364;5,000,000, and if denominated in Dollars, $5,000,000, and (b) in the case of a Swingline Borrowing, if denominated in Euros, &#8364;500,000, and if denominated in Dollars, $500,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrowing Multiple</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) in the case of a Borrowing other than a Swingline Borrowing, if denominated in Euros, &#8364;1,000,000, and if denominated in Dollars, $1,000,000, and (b) in the case of a Swingline Borrowing, if denominated in Euros, &#8364;100,000, and if denominated in Dollars, $100,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrowing Request</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a request by a Borrower for a Borrowing in accordance with Section&#160;2.03 or 2.20, as applicable, which shall be, in the case of any such written request, in the form of Exhibit&#160;E or any other form approved by the Administrative Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Business Day</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any day that is not a Saturday, Sunday or other day on which commercial banks in New&#160;York City are authorized or required by law to remain closed; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (a)&#160;when used in connection with a Eurocurrency Loan, the term &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Business Day</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall also exclude any day on which banks are not open for general business in London and (b)&#160;when used in connection with a Loan or Letter of Credit denominated in Euros, the term &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Business Day</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall also exclude any day on which the TARGET payment system is not open for the settlement of payments in Euros.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Capital Expenditures</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, for any period, without duplication, (a)&#160;the additions to property, plant and equipment and other capital expenditures of GrafTech and the consolidated Subsidiaries that are (or would be) set forth in a consolidated statement of cash flows of GrafTech for such period prepared in accordance with GAAP and (b)&#160;Capital Lease Obligations incurred by GrafTech and the consolidated Subsidiaries during such period.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Capital Lease Obligations</font><font style="font-family:inherit;font-size:12pt;">&#8221; of any person shall mean the obligations of such person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such person under GAAP and, for purposes hereof, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Capital Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221; of any person shall mean any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) equity of such person, including any preferred stock, any limited or </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">general partnership interest and any limited liability company membership interest, but excluding any debt securities convertible into such equity.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cash Flow Notes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Indebtedness of Luxembourg Holdco or Swissco, in either case which shall have been: (a)&#160;owed to any Foreign Subsidiary; (b) (i) existing on the Restatement Effective Date and set forth on Schedule 6.01 or (ii) incurred after the Restatement Effective Date for the purpose of advancing cash from such Foreign Subsidiary to GrafTech, Finance, a CFC Guarantor or a domestic Wholly Owned Subsidiary (and in an amount equal to the amount of cash so advanced through the creation of such Indebtedness) as part of GrafTech&#8217;s cash management arrangements; (c)&#160;subordinated to the payment in full of all obligations of (A) Luxembourg Holdco in respect of the Obligations of Luxembourg Holdco or (B) Swissco in respect of the Swissco Obligations, in each case except to the extent prohibited by applicable law; (d) to the extent held by (i) a Guarantor, pledged under a Pledge Agreement of such Guarantor to secure the Obligations or (ii) a CFC Guarantor, pledged under a Pledge Agreement of such CFC Guarantor to secure the Obligations of each Foreign Subsidiary that is a CFC; and (e) limited in recourse to the assets of (1) Luxembourg Holdco other than the Capital Stock of the Subsidiaries owned by Luxembourg Holdco or (2) Swissco other than the Capital Stock of the Subsidiaries owned by Swissco, in each case except to the extent unenforceable or prohibited by applicable law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cash Interest Expense</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to GrafTech and the Subsidiaries on a consolidated basis for any period, without duplication, Interest Expense for such period, less the sum for such period of (a)&#160;pay-in-kind Interest Expense, including payments of interest in common stock of GrafTech, (b)&#160;the amortization or write-off of debt discounts or deferred issuance costs or fees in respect of Interest/Exchange Rate Protection Agreements, (c) noncash imputed interest expense and (d)&#160;the amortization of fees paid by GrafTech or any Subsidiary on or prior to December 31, 2011, in connection with the transactions under the Existing Credit Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cash Management Arrangements</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) agreements in respect of treasury, depository and other cash management services, including intra-day and overdraft facilities and other similar facilities in various currencies, and including cash pooling, zero balance and sweep accounts, and including commercial credit cards and stored value cards that (b) have been designated by GrafTech in a written notice to the Administrative Agent as Cash Management Arrangements, which notice has not been revoked by a written notice to the Administrative Agent executed by GrafTech and, if any obligation is outstanding under such Cash Management Arrangement, the Lender or Affiliate of a Lender that is a party to such Cash Management Arrangement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">CERCLA</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in the definition of &#8220;Environmental Law&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">CFC</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) each Subsidiary that is a &#8220;controlled foreign corporation&#8221; for purposes of the Code and (b) each subsidiary of each such controlled foreign corporation.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">CFC Guarantor</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean each of Luxembourg Parent, Luxembourg Holdco and Swissco.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Change in Control</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall be deemed to have occurred if (a)&#160;GrafTech shall fail to own (i) directly, beneficially and of record, free and clear of any and all Liens (other than Liens in favor of the Collateral Agent pursuant to the Domestic Pledge Agreement), 100% of the issued and outstanding capital stock of Holdings, (ii) indirectly through Holdings, beneficially and of record, free and clear of any and all Liens (other than Liens in favor of the Collateral Agent pursuant to the Domestic Pledge Agreement),   100% of the issued and outstanding capital stock of Finance, (iii) indirectly through Global and GrafTech International Holdings, beneficially and of record, free and clear of any and all Liens (other than Liens in favor of the Collateral Agent pursuant to a Security Document or the European Guarantee and Luxembourg Security Agreement), 100% of the issued and outstanding capital stock of Luxembourg Parent, (iv) indirectly through Luxembourg Parent, beneficially and of record, free and clear of any and all Liens (other than Liens in favor of the Collateral Agent pursuant to a Security Document or the European Guarantee and Luxembourg Security Agreement), 100% of the issued and outstanding capital stock of Luxembourg Holdco, or (v) indirectly through Luxembourg Holdco, beneficially and of record, free and clear of any and all Liens (other than Liens in favor of the Collateral Agent pursuant to a Security Document), 100% of the issued and outstanding capital stock of Swissco; (b)&#160;any person or group (within the meaning of Rule&#160;13d&#8209;5 of the Securities Exchange Act of 1934 as in effect on the Restatement Effective Date), other than members of management of GrafTech, the Subsidiaries or the Borrowers holding voting stock of GrafTech or options to acquire such voting stock on the Restatement Effective Date, shall own beneficially, directly or indirectly, shares representing more than 25% of the aggregate ordinary voting power represented by the issued and outstanding Capital Stock of GrafTech; (c)&#160;a majority of the seats (excluding vacant seats) on the board of directors of GrafTech shall at any time after the Restatement Effective Date be occupied by persons who were neither (i)&#160;nominated by a majority of the board of directors of GrafTech or its nominating committee, nor (ii)&#160;appointed by directors so nominated; or (d)&#160;a change in control with respect to GrafTech or a Borrower (or similar event, however denominated) shall occur under and as defined in any indenture or agreement in respect of Indebtedness in an aggregate outstanding principal amount in excess of $35,000,000 to which GrafTech, a Borrower or any other Subsidiary is party.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Change in Law</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;the adoption of any law, rule or regulation after the Restatement Effective Date, (b)&#160;any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Restatement Effective Date or (c)&#160;compliance by any Lender or Issuing Bank (or, for purposes of Section&#160;2.15(b), by any lending office of such Lender or by such Lender&#8217;s or Issuing Bank&#8217;s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the Restatement Effective Date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that, notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, 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Effective Date or a commitment of any new Class established pursuant to Section 9.02(c) and (c) any Lender, refers to whether such Lender has a Loan or Commitment of a particular Class.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Code</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Internal Revenue Code of 1986, as amended from time to time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Collateral</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any and all &#8220;collateral&#8221; as defined or described in any Security Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Collateral Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean JPMorgan Chase Bank, N.A., in its capacity as collateral agent for the Secured Parties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Collateral and Guarantee Requirement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, that:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;one or more Pledge Agreements (or supplements thereto) shall have been duly executed by GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco and each other Subsidiary that is not a CFC existing at such time and owning any Capital Stock or Indebtedness of GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco or any other Subsidiary or any other person (including Capital Stock and any Indebtedness of Unrestricted Subsidiaries), shall have been delivered to the Collateral Agent and shall be in full force and effect, and such Capital Stock and Indebtedness owned by or on behalf of each such pledgor shall have been duly and validly pledged under a Pledge Agreement (or, to the extent not evidenced by a certificate or any other instrument, under a Security Agreement) to the Collateral Agent for the ratable benefit of the Secured Parties, and certificates or other instruments representing such Capital Stock or Indebtedness, accompanied by stock powers or other instruments of transfer endorsed in blank (as applicable), shall be in the actual possession of the Collateral Agent (except that no pledged Indebtedness of any person that is neither GrafTech nor an Affiliate of GrafTech shall be required to be evidenced by an instrument unless such Indebtedness is in an aggregate principal amount of $1,000,000 or more), and all other actions, including, where applicable, the making of endorsements in shareholder registers, required by law or reasonably requested by the Administrative Agent to create in favor of the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Collateral Agent for the benefit of the Secured Parties a valid, legal and perfected first-priority security interest in and lien on the Collateral subject to the Pledge Agreements (subject to any Lien expressly permitted by Section&#160;6.02) shall have been taken, and evidence thereof reasonably satisfactory to the Collateral Agent shall have been delivered to the Collateral Agent; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that in the case of a pledge by any Subsidiary (other than Luxembourg Parent, Luxembourg Holdco, Swissco or another CFC, pledges by which entities will not secure the Obligations of GrafTech or any Domestic Subsidiary) of voting Capital Stock in a CFC, such pledge may, insofar as it secures the Obligations of GrafTech or any Domestic Subsidiary, be limited to 65% of such voting Capital Stock of such CFC (but insofar as it secures the Obligations of Luxembourg Holdco, the Swissco Obligations or the Obligations of any other Foreign Subsidiary that is a CFC, shall not be so limited);  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;one or more Security Agreements (or supplements thereto) shall have been duly executed by GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco and each other Subsidiary that is not a CFC existing at such time, shall have been delivered to the Collateral Agent and shall be in full force and effect (and all consents of third parties required for the effectiveness or enforceability of the Liens created by such Security Agreements shall have been obtained), and each document (including each Uniform Commercial Code financing statement or similar filing and each filing with respect to intellectual property owned by GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco or any other Subsidiary party to any Security Agreement) required by law or reasonably requested by the Administrative Agent to be filed, registered or recorded in order to create in favor of the Collateral Agent for the benefit of the Secured Parties a valid, legal and perfected first-priority security interest in and lien on the Collateral subject to the applicable Security Agreement (subject to any Lien expressly permitted by Section&#160;6.02) shall have been so filed, registered or recorded, and evidence thereof reasonably satisfactory to the Collateral Agent shall have been delivered to the Collateral Agent; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that in the case of any security interest granted under any such Security Agreement by any Subsidiary (other than Luxembourg Parent, Luxembourg Holdco, Swissco or another CFC, security interests granted by which entities will not secure the Obligations of GrafTech or any Domestic Subsidiary) in voting Capital Stock of a CFC, such security interest may, insofar as it secures the Obligations of GrafTech or any Domestic Subsidiary, be limited to 65% of such voting Capital Stock of such CFC (but insofar as it secures the Obligations of Luxembourg Holdco, the Swissco Obligations or the Obligations of any other Foreign Subsidiary that is a CFC, shall not be so limited);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)(i)&#160;each of the Mortgages relating to each of the Mortgaged Properties shall have been duly executed by the parties thereto and delivered to the Collateral Agent and shall be in full force and effect, (ii)&#160;each of such Mortgaged Properties shall not be subject to any Lien other than those expressly permitted </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">under Section&#160;6.02, (iii)&#160;each of such Mortgages shall have been filed and recorded in the recording office referred to in Section&#160;3.19(d) and the Collateral Agent shall have received evidence satisfactory to it of each such filing and recordation and (iv)&#160;the Collateral Agent shall have received such other documents, including a policy or policies of title insurance issued by a nationally recognized title insurance company, together with such endorsements, coinsurance and reinsurance as may reasonably be requested by the Collateral Agent and the Lenders, insuring such Mortgages as valid first liens on such Mortgaged Properties, free of Liens other than those expressly permitted under Section&#160;6.02, together with such surveys, abstracts, appraisals and legal opinions as may be required to be furnished pursuant to the terms of such Mortgages or as may reasonably be requested by the Collateral Agent or the Lenders in respect thereof;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)&#160;&#160;a Guarantee Agreement referred to in clause&#160;(a) of the definition of the term &#8220;Guarantee Agreement&#8221; (or a supplement thereto) shall have been duly executed by GrafTech, Finance and each Subsidiary (other than any CFC) existing at such time and delivered to the Collateral Agent and shall be in full force and effect;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)  the European Guarantee and Luxembourg Security Agreement (or a supplement thereto) shall have been duly executed by each CFC Guarantor and delivered to the Collateral Agent and shall be in full force and effect;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f) a Guarantee Agreement referred to in clause&#160;(c) of the definition of the term &#8220;Guarantee Agreement&#8221; (or a supplement thereto) shall have been duly executed by each Foreign Subsidiary that is not a CFC (limited as provided in this definition of the term &#8220;Collateral and Guarantee Requirement&#8221;) and delivered to the Collateral Agent and shall be in full force and effect;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)&#160;&#160;the Indemnity, Subrogation and Contribution Agreement (or  supplements thereto) shall have been duly executed by GrafTech, Finance and each Subsidiary (other than any CFC) existing at such time and delivered to the Collateral Agent and shall be in full force and effect;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)&#160;&#160;the Collateral Agent shall have received, with respect to the Existing Security Documents, such Reaffirmation Documents as it shall reasonably have requested to confirm the continued effectiveness and enforceability of the obligations of such parties under the Existing Security Documents and the continued validity and perfection of the Liens created thereby; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)&#160;&#160;GrafTech, the Borrowers and each other Subsidiary shall have each obtained all consents and approvals required to be obtained by it in connection with the execution and delivery of each Loan Document to which it is party, the incurrence and the performance of its obligations thereunder and the granting by it of the Liens thereunder.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For the avoidance of doubt, and in each case subject to applicable local law limitations (A) the Collateral of Swissco shall secure the Swissco Obligations and no other Obligations, (B) the Collateral of Luxembourg Parent shall secure the Obligations of Luxembourg Parent, all Obligations Guaranteed by Luxembourg Parent and no other Obligations, (C) the Collateral of Luxembourg Holdco shall secure the Obligations of Luxembourg Holdco, all Obligations Guaranteed by Luxembourg Holdco and no other Obligations, (D) each guarantee provided under any Guarantee Agreement by any Loan Party that is not a CFC shall guarantee (and all Collateral in which a Lien is granted under any Loan Document by any Loan Party that is not a CFC shall secure) all the Obligations, and (E) each Guarantee provided by Luxembourg Parent, Luxembourg Holdco or Swissco shall guarantee the Obligations of each Foreign Subsidiary that is a CFC (other than, in each case, the party providing such Guarantee), but shall not be required to guarantee any Obligations of GrafTech or any Domestic Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(1)  a Subsidiary shall not be required to Guarantee any Obligation or pledge or grant any security interest or Lien (A) if GrafTech shall have advised the Administrative Agent that it would be a violation of applicable law (or, in the case of a pledge of Capital Stock of an Unrestricted Subsidiary or a person that is not a Wholly Owned Subsidiary, a violation of an applicable contract in respect of which the Administrative Agent shall have determined under clause (B) of this subparagraph that obtaining a consent shall not be required) for such Subsidiary to take such action or (B) if and for so long as, in the judgment of the Administrative Agent, in consultation with GrafTech, the contractual, operational, expense, tax or regulatory consequences or difficulty of taking such action would not, in light of the benefits to accrue to the Lenders, justify taking such action;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(2)  the Administrative Agent may grant extensions of time for the perfection of security interests in particular assets (including extensions beyond the Restatement Effective Date for the perfection of security interests in the assets of the Loan Parties on the Restatement Effective Date) where it determines that perfection cannot be accomplished without undue effort or expense by the time or times at which it would otherwise be required by this Agreement, the Security Documents or the European Guarantee and Luxembourg Security Agreement, as applicable;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(3)  the Collateral Agent is expressly authorized upon the request of a Borrower to release or authorize the release of any Collateral or Guarantee previously delivered in respect of any Obligation that at the time of such request is not required in order for the Collateral and Guarantee Requirement to be satisfied;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(4)  no Default or Event of Default shall arise from any inadvertent failure to comply in any immaterial respect with the provisions of this Collateral and Guarantee Requirement if the Borrowers and the other Loan Parties shall have </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">attempted in good faith to comply herewith and shall (upon becoming aware of such inadvertent failure to comply) take prompt action to effect compliance;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(5)  any Excluded Foreign Loan Party may elect to become a CFC and the Collateral Agent is expressly authorized upon the request of a Borrower after the effectiveness of such election, so long as no Default or Event of Default has occurred and is continuing at the time of such request, to release any Collateral or Guarantee previously delivered in respect of any Obligation that would not have been required to have been delivered in order for the Collateral and Guarantee Requirement to have been satisfied had such Excluded Foreign Loan Party been a CFC at all relevant times hereunder;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(6)  there shall be no requirement, in connection with the Capital Stock of any Excluded CFC, to enter into or maintain in effect any Pledge Agreement or related instrument or document governed by, or required for the perfection of any Lien under, the law of the jurisdiction of such Excluded CFC, or to take any other action under the law of such jurisdiction; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(7)  there shall be no requirement to pledge the Capital Stock of GrafTech Korea Ltd. so long as it has total assets of less than $10,000,000; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(8)  under no circumstances shall Swissco grant any security interest in real estate to secure the Swissco Obligations.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Commitment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Revolving Commitment or a Term Commitment of any Series or any combination thereof (as the context requires).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Commodity Rate Protection Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any commodity hedging agreement or arrangement entered into by GrafTech or any Subsidiary and designed to protect against fluctuations in prices of commodities (including oil, petroleum coke, natural gas and electricity).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Control</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a person, whether through the ownership of voting securities, by contract or otherwise, and &#8220;Controlling&#8221; and &#8220;Controlled&#8221; shall have meanings correlative thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Default</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any event or condition which upon notice, lapse of time or both would constitute an Event of Default.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defaulting Lende</font><font style="font-family:inherit;font-size:12pt;">r&#8221; shall mean any Revolving Lender, as reasonably determined by the Administrative Agent, that (a) shall have failed to fund any Loan required to be funded by it for three or more Business Days after the date that the Borrowing of which such Loan is to be a part of is funded by Lenders, unless such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender&#8217;s good faith determination that a condition precedent to funding (specifically </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">identified in such writing, including, if applicable, by reference to a specific Default) has not been satisfied, (b) shall have failed to fund any portion of its participation in any LC Disbursement or Swingline Loan for three or more Business Days after the date on which such funding is to occur hereunder, (c) shall have notified the Administrative Agent (or shall have notified GrafTech, a Borrower, a Swingline Lender or an Issuing Bank, which shall in turn have notified the Administrative Agent) in writing that it does not intend or is unable to comply with its funding obligations under this Agreement, or shall have made a public statement to the effect that it does not intend or is unable to comply with such funding obligations or its funding obligations generally under other credit or similar agreements to which it is a party (unless such writing or public statement indicates that such position is based on such Lender&#8217;s good-faith determination that a condition precedent (specifically identified in such writing, including, if applicable, by reference to a specific Default) to funding a Loan cannot be satisfied), (d) shall have failed (but not for fewer than three Business Days) after a request by the Administrative Agent to confirm that it will comply with its obligations to make Loans and fund participations in LC Disbursements and Swingline Loans hereunder or (e) shall have become the subject of a bankruptcy, liquidation or insolvency proceeding, or shall have had a receiver, conservator, trustee or custodian appointed for it, or shall have taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or shall have a parent company that has become the subject of a bankruptcy, liquidation or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in, or the exercise of control over, such Lender or parent company thereof by a Governmental Authority or an instrumentality thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Disposition Pending Reinvestment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any sale or other disposition of any asset or Capital Stock made in reliance on Section 6.05(i) in respect of which and to the extent that GrafTech shall have delivered a certificate of GrafTech signed by a Responsible Officer of GrafTech to the Administrative Agent (a) setting forth GrafTech&#8217;s intention to use the Net Proceeds thereof to reinvest pursuant to Capital Expenditures or Permitted Subsidiary Investments in assets useful in the business of the Subsidiaries (other than Unrestricted Subsidiaries) (including by way of a purchase of Capital Stock of any person holding such assets) and (b) certifying that (i) GrafTech has caused such Net Proceeds to be so used (it being understood that GrafTech may elect to deem such Net Proceeds to have been applied to effect any prior Capital Expenditure or Permitted Subsidiary Investments made in reliance on any other provision hereunder if such certificate of GrafTech so specifies, and such Capital Expenditure or Permitted Subsidiary Investment shall be deemed to have been effected with Available Disposition Proceeds and shall no longer constitute usage of such other provision upon the delivery of such certificate) or (ii) GrafTech has caused such Net Proceeds to be deposited pending such reinvestment in a collateral account maintained with the Administrative Agent to secure the Obligations (or, in the case of Net Proceeds owned by a CFC, to secure the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Obligations of each Foreign Subsidiary that is a CFC) on terms and under documentation satisfactory to the Administrative Agent; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (x) GrafTech may elect to satisfy the requirement under this sentence to deposit amounts in a collateral account by instead prepaying outstanding Revolving Loans and specifying in such certificate that a portion of the Commitments equal to the amount of such prepayment shall be blocked and not be available for any purpose except to the extent that GrafTech provides the Administrative Agent with further written notice that it has used or will within five Business Days use the proceeds of a Borrowing to reinvest as specified under this definition (and, if GrafTech provides such a notice with respect to its intent so to use such proceeds and fails so to apply all such proceeds within such five Business Day period, the Borrowers shall repay the unused portion of such proceeds on the last day of such period and a block on availability under the Commitments shall be reinstated in the amount of such unused proceeds) and (y) the aggregate amount of reinvestments in Permitted Subsidiary Investments that are not Permitted Acquisitions that may be included for purposes of delivering any notice or making any calculation to be made in determining compliance with the provisions of this definition and the related covenant requirements shall be limited to $60,000,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Disqualified Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any Capital Stock that by its terms (or the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is 91 days after the final maturity of the latest maturing Loan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Dollars</font><font style="font-family:inherit;font-size:12pt;">&#8221; or &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">$</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the lawful money of the United&#160;States of America.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Domestic Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Pledge Agreement substantially in the form of Exhibit&#160;B, among GrafTech, Finance, each other Domestic Subsidiary owning Capital Stock or Indebtedness (except as otherwise provided in the definition of Collateral and Guarantee Requirement) of GrafTech, Finance, Luxembourg Parent, any other Subsidiary or any other person, each other Foreign Subsidiary that is not a CFC that shall have become a party thereto in order to satisfy the Collateral and Guarantee Requirement, and the Collateral Agent for the benefit of the Secured Parties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Domestic Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Subsidiary incorporated or organized under the laws of the United States of America, any State thereof or the District of Columbia.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Drawdown Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the date on which the conditions specified in Section&#160;4.04 are satisfied (or waived in accordance with Section&#160;9.02).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">EBITDA</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to GrafTech and the Subsidiaries on a consolidated basis for any period, the consolidated net income of GrafTech and the Subsidiaries for such period, plus, to the extent deducted in computing such consolidated </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">net income, without duplication, the sum of (a)(i)&#160;income tax expense and (ii)&#160;withholding tax expense incurred in connection with cross border transactions involving Foreign Subsidiaries, (b)&#160;interest expense, (c)&#160;depreciation and amortization expense, (d)&#160;cash costs during the period commencing in the fourth quarter of 2013 related to the rationalization initiative announced by GrafTech in October 2013, including cash costs in connection with the closing of production facilities in South Africa and Brazil and a machining facility in Russia, in an aggregate amount not to exceed $30,000,000, (e) any special charges and any extraordinary or non-recurring losses, (f)&#160;other non-cash items reducing consolidated net income, (g)&#160;non-cash exchange, translation or performance losses relating to any Interest/Exchange Rate Protection Agreements or currency or interest rate fluctuations, (h) premium or make-whole costs incurred upon the prepayment, redemption or conversion of Indebtedness in an aggregate amount not to exceed (A) in any case, 10% of the principal amount prepaid, redeemed or converted or (B) $25,000,000 for all such prepayments, redemptions or conversions, and (i) cash costs related to rationalization initiatives announced after April 2014 during any quarter ending on or prior to June 30, 2016; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the aggregate amount of such costs added pursuant to this clause (i) in computing EBITDA shall not exceed $20,000,000, minus, to the extent added in computing such consolidated net income, without duplication, (i)&#160;interest income, (ii)&#160;extraordinary or non-recurring gains, (iii)&#160;other non-cash items increasing consolidated net income, (iv)&#160;non-cash exchange, translation or performance gains relating to any Interest/Exchange Rate Protection Agreements or currency or interest rate fluctuations, and (v) all cash payments made during such period on account of reserves and other non-cash charges added to EBITDA in a previous period, which previous period ends on or after December 31, 2010. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">EMU Legislation</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the legislative measures of the European Union for the introduction of, changeover to or operation of the Euro in one or more member states.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">environment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean ambient air, surface water and groundwater (including potable water, navigable water and wetlands), the land surface or subsurface strata, the workplace or as otherwise defined in any Environmental Law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Environmental Claim</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any written accusation, allegation, notice of violation, claim, demand, order, directive, cost recovery action or other cause of action by, or on behalf of, any Governmental Authority or any other person for damages, injunctive or equitable relief, personal injury (including sickness, disease or death), Remedial Action costs, tangible or intangible property damage, natural resource damages, nuisance, pollution, any adverse effect on the environment caused by any Hazardous Material, or for fines, penalties or restrictions, resulting from or based upon:  (a)&#160;the threat, the existence, or the continuation of the existence of a Release (including sudden or non-sudden, accidental or non-accidental Releases); (b)&#160;exposure to any Hazardous Material; (c)&#160;the presence, use, handling, transportation, storage, treatment or disposal of any Hazardous Material; or (d)&#160;the violation or alleged violation of any Environmental Law or Environmental Permit.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Environmental Law</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any and all applicable present and future treaties, laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, to the preservation or reclamation of natural resources, to the treatment, storage, disposal, Release or threatened Release of any Hazardous Material or to human health or safety, including the Hazardous Materials Transportation Act, 49 U.S.C. &#167;&#167;&#160;1801 et seq., the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (&#8220;CERCLA&#8221;), the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976 and the Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. &#167;&#167;&#160;6901, et seq., the Federal Water Pollution Control Act, as amended by the Clean Water Act of 1977, 33 U.S.C. &#167;&#167;&#160;1251 et seq., the Clean Air Act of 1970, as amended, 42  U.S.C. &#167;&#167;&#160;7401 et seq., the Toxic Substances Control Act of 1976, 15 U.S.C. &#167;&#167;&#160;2601 et seq., the Emergency Planning and Community Right-to-Know Act of 1986, 42 U.S.C. &#167;&#167;&#160;11001 et seq., the National Environmental Policy Act of 1975, 42 U.S.C. &#167;&#167;&#160;4321 et seq., the Safe Drinking Water Act of 1974, as amended, 42 U.S.C. &#167;&#167;&#160;300(f) et seq., and any similar or implementing state or foreign law, and all amendments thereto or regulations promulgated thereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Environmental Permit</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any permit, approval, authorization, certificate, license, variance, filing or permission required by or from any Governmental Authority pursuant to any Environmental Law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Equity Proceeds</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Net Proceeds received by GrafTech from the issuance or sale by GrafTech after the Restatement Effective Date of any Capital Stock (other than Disqualified Stock) of GrafTech (other than sales of Capital Stock of GrafTech to directors, officers or employees of GrafTech, the Borrowers or any other Subsidiary in connection with permitted employee compensation and incentive arrangements).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">ERISA</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">ERISA Affiliate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any trade or business (whether or not incorporated) that, together with a Borrower, is treated as a single employer under Section&#160;414 of the Code.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Euro</font><font style="font-family:inherit;font-size:12pt;">&#8221; or &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#8364;</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the single currency of the European Union as constituted by the Treaty on European Union and as referred to in the EMU Legislation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Euro Swingline Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Swingline Loan denominated in Euros for any day, the rate at which Euro deposits with interest periods of one day are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at the time the Administrative Agent determines such rate on such day.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Eurocurrency</font><font style="font-family:inherit;font-size:12pt;">&#8221;, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Adjusted LIBO Rate or the LIBO Rate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">European Guarantee and Luxembourg Security Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the European Guarantee and Luxembourg Security Agreement substantially in the form of Exhibit J, by each CFC Guarantor in favor of the Collateral Agent for the benefit of the Secured Parties, subject to such limits as shall be required under applicable local law.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Event of Default</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Article&#160;VII.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Excess Foreign Transfer</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any Foreign Transfer if, after giving effect thereto, the aggregate amount of all Foreign Transfers made after the Restatement Effective Date shall be $75,000,000 or more.  &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Foreign Transfer</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any sale, lease or other transfer (other than any Investment made solely with cash that is expressly permitted by Section 6.04) resulting in any asset of GrafTech, Finance or any other Domestic Subsidiary becoming an asset of Luxembourg Parent, Luxembourg Holdco, Swissco or any other Foreign Subsidiary (including in each case, for the avoidance of doubt, (a) any such transfer resulting from any assumption of Indebtedness, assets or liabilities or from any merger or consolidation and (b) any such transfer that would constitute an Investment in Luxembourg Parent, Luxembourg Holdco, Swissco or such other Foreign Subsidiary); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that none of the following transactions shall be a Foreign Transfer:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)  the transfer of inventory in the ordinary course of business consistent with past practice;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)  any non-exclusive license of intellectual property; or</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)  sales or other dispositions of assets in accordance with Section 6.05(f).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exchange Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean on any day, for purposes of determining the US Dollar Equivalent of any other currency, the rate at which such other currency may be exchanged into Dollars at the time of determination on such day as set forth on the Reuters WRLD Page for such currency.  In the event that such rate does not appear on any Reuters WRLD Page, the Exchange Rate shall be determined by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and GrafTech, or, in the absence of such an agreement, such Exchange Rate shall be the arithmetic average of the spot rates of exchange of the Administrative Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or about such time as the Administrative Agent shall elect after determining that such rates shall be the basis for determining the Exchange Rate, on such date for the purchase of Dollars for delivery two Business Days later; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that if, at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent may, in </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">consultation with GrafTech, use any reasonable method it deems appropriate to determine such rate.  Any such determination shall be conclusive absent manifest error.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exchange Rate Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, if on such date any outstanding Revolving Exposure is (or any Revolving Exposure that has been requested at such time would be) denominated in a currency other than Dollars, each of:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a) the last Business Day of each calendar quarter, </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b) if an Event of Default has occurred and is continuing, any Business Day designated as an Exchange Rate Date by the Administrative Agent in its sole discretion, and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c) each date (with such date to be reasonably determined by the Administrative Agent in consultation with the applicable Borrower) that is on or about the date of (i) a Borrowing Request or an Interest Election Request with respect to any Revolving Borrowing or (ii) each request for the issuance, amendment, renewal or extension of any Letter of Credit or Swingline Loan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Excluded CFC</font><font style="font-family:inherit;font-size:12pt;">&#8221;&#160;shall mean (a) any CFC organized under the laws of Hong Kong or Russia, in the case of each such jurisdiction for so long as the Subsidiaries organized under the laws of such jurisdiction, taken together, do not have total assets of $10,000,000 or more, (b) any CFC organized under the laws of Canada, China (other than Hong Kong), Germany, Italy or the United Kingdom, in the case of each such jurisdiction for so long as the Subsidiaries organized under the laws of such jurisdiction, taken together, do not have total assets of $15,000,000 or more and (c) GrafTech Comercial Navarra S.L., for so long as it does not have total assets of $15,000,000 or more.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Excluded Foreign Loan Party</font><font style="font-family:inherit;font-size:12pt;">&#8221;&#160;shall mean a Foreign Subsidiary (other than Luxembourg Parent, Luxembourg Holdco or Swissco) that is a Loan Party, other than any Foreign Subsidiary in respect of which GrafTech or a Borrower shall have delivered written notice to the Administrative Agent specifying that such Foreign Subsidiary is not to be an Excluded Foreign Loan Party.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Excluded Taxes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to the Administrative Agent, any Lender or Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of a Borrower or any LC Subsidiary hereunder, (a)&#160;income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction under which such recipient is organized or in which its principal office is located, or in which its applicable lending office is located, (b)&#160;any branch profit taxes imposed by the United States of America or any similar tax imposed by any other jurisdiction described in clause&#160;(a) above, (c)&#160;in the case of a Foreign Lender (other than an assignee pursuant to a request by a Borrower under Section&#160;2.19(b)), any withholding tax that is imposed by the United States of America on amounts payable to such Foreign Lender (i)&#160;to the extent that such tax is in effect and would apply as of the date such Foreign Lender becomes a party to this Agreement or relates to payments </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">received by a new lending office designated by such Foreign Lender and is in effect and would apply at the time such lending office is designated or (ii)&#160;that is attributable to such Foreign Lender&#8217;s failure to comply with Section&#160;2.17(f), except, in the case of clause&#160;(i) above, to the extent, and only to the extent, that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from a Borrower or any LC Subsidiary with respect to such withholding tax pursuant to Section&#160;2.17(a) and (d)&#160;any U.S. federal withholding taxes imposed under FATCA.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean this Agreement as in effect prior to the Second Restatement Effective Date (and, for purposes of the definition of &#8220;Obligations&#8221;, at any time after the original effectiveness of such Agreement).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Security Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Security Documents, the Guarantee Agreements and the indemnity, subrogation and contribution agreements executed and delivered in satisfaction of the Collateral and Guarantee Requirement under the Existing Credit Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">FATCA</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Sections&#160;1471 through 1474 of the Code, as of the Restatement Effective Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), and any current or future regulations or official interpretations thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Federal Funds Effective Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New&#160;York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Finance</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech Finance Inc., a Delaware corporation and an indirect, wholly owned subsidiary of GrafTech.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Financial Officer</font><font style="font-family:inherit;font-size:12pt;">&#8221; of any person shall mean the chief financial officer, principal accounting officer, treasurer, assistant treasurer or controller of such person.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Financial Statement Delivery Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the 75th&#160;day following the end of each fiscal year of GrafTech, and the 40th day following the end of each of the first three fiscal quarters in each fiscal year of GrafTech.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">First Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the First Amendment dated as of March 26, 2012, among GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco and the Administrative Agent.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">First Amendment Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean March 26, 2012.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Foreign Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any Lender that is organized under the laws of a jurisdiction other than the United&#160;States of America or a political subdivision thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Foreign Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any Subsidiary that is not a Domestic Subsidiary. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Foreign Transfer</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in the definition of Excess Foreign Transfer.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GAAP</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean generally accepted accounting principles in effect from time to time in the United&#160;States applied on a consistent basis or, when reference is made to another jurisdiction, generally accepted accounting principles in effect from time to time in such jurisdiction applied on a consistent basis; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that from and after the effectiveness of any change in the accounting principles used for financial reporting by GrafTech in accordance with Section 1.04(a)(ii), &#8220;GAAP&#8221; will mean IFRS, subject to Section 1.04(a)(i).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">General Debt Basket</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, in connection with any incurrence of Indebtedness, (a) if the Leverage Ratio as of the last day of the then most recently ended fiscal quarter, computed on a pro forma basis giving effect to the incurrence of such Indebtedness and to all other incurrences and repayments of Indebtedness since the end of such fiscal quarter, would be less than 3.25 to 1.00, $400,000,000, and (b) otherwise, $250,000,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Global</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech Global Enterprises Inc., a Delaware corporation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governmental Authority</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the government of the United States of America, any other nation or any political subdivision of any of them, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including the Bank for International Settlements and the Basel Committee on Banking Supervision or any successor or similar authority to any of the foregoing).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech International Ltd., a Delaware corporation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech International Holdings</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech International Holdings Inc., a Delaware corporation and indirect wholly owned subsidiary of GrafTech.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech Senior Secured Leverage Ratio</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 6.11.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech USA</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech USA LLC, a Delaware limited liability company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guarantee</font><font style="font-family:inherit;font-size:12pt;">&#8221; of or by any person shall mean (a)&#160;any obligation, contingent or otherwise, of such person guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other person (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">primary obligor</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in any manner, whether directly or indirectly, and including any obligation of such person, direct or indirect, (i)&#160;to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness (whether arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to take-or-pay or otherwise) or to purchase (or to advance or supply funds for the purchase of) any collateral securing the payment of such Indebtedness, (ii)&#160;to purchase or lease property, securities or services for the purpose of assuring the holders of such Indebtedness of the payment of such Indebtedness, (iii)&#160;to maintain any working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or (iv)&#160;entered into for the purpose of assuring in any other manner the holders of such Indebtedness of the payment thereof or to protect such holders against loss in respect thereof (in whole or in part), or (b)&#160;any Lien on any assets of such person securing any Indebtedness of any other person, whether or not such Indebtedness is assumed by such person; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the term &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guarantee</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall not include endorsements for collection or deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Restatement Effective Date or entered into in connection with any acquisition or disposition of assets or Capital Stock permitted under this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guarantee Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;a Guarantee Agreement substantially in the form of Exhibit&#160;C, by GrafTech and each Domestic Subsidiary (except as otherwise provided in the definition of Collateral and Guarantee Requirement) in favor of the Collateral Agent for the benefit of the Secured Parties; (b) the European Guarantee and Luxembourg Security Agreement (it being understood that notwithstanding anything contained herein to the contrary, no Guarantee Agreement will require any Foreign Subsidiary that is a CFC to issue a Guarantee as to any Obligations of GrafTech or any Domestic Subsidiary); and (c)&#160;in connection with the Guarantees of the Obligations by Foreign Subsidiaries that are not CFCs, other guarantee agreements or similar agreements (subject in each case to such limits as shall be required under applicable local law) giving effect to the Collateral and Guarantee Requirement and in form and substance reasonably satisfactory to the Collateral Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guarantor</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech, Finance and each other Subsidiary that at any time has outstanding at such time a Guarantee under any Guarantee Agreement in respect of all the Obligations.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Guidelines</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, together, (a) Guideline S-02.123 in relation to interbank loans of September 22, 1986 (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Circulaire relative &#224; l&#8217;imp&#244;t anticip&#233; sur les int&#233;r&#234;ts des avoirs en banque dont les cr&#233;anciers sont des banques &#8211; avoirs </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">interbancaires &#8211;, du 22 septembre 1986</font><font style="font-family:inherit;font-size:12pt;">), (b) Guideline S-02.122.1 in relation to bonds of April 1999 (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Circulaire sur les obligations, d&#8217;avril 1999</font><font style="font-family:inherit;font-size:12pt;">), (c) guideline S-02.130.1 in relation to money market instruments and book claims of April 1999 (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Circulaire sur les papiers mon&#233;taires et cr&#233;ances comptables de d&#233;biteurs suisses, d&#8217;avril 1999</font><font style="font-family:inherit;font-size:12pt;">), (d) Guideline S-02.128 in relation to syndicated credit facilities of January 2000 (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Circulaire sur le traitement fiscal des pr&#234;ts consortiaux, reconnaissances de dette, effets de change et sous-participations, de janvier 2000</font><font style="font-family:inherit;font-size:12pt;">), (e) circular letter No. 34 of 26 July 2011 (1-034-V-2011) in relation to deposits (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Circulaire no 34 du 26 juillet 2011 sur les avoirs de clients</font><font style="font-family:inherit;font-size:12pt;">) and (f) circular letter No. 15 of 7 February 2007 (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">1-015-DVS-2007</font><font style="font-family:inherit;font-size:12pt;">) in relation to bonds and derivative financial instruments as subject matter of taxation of Swiss federal income tax, Swiss Withholding Tax and Swiss Stamp Taxes (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Circulaire no 15 du 7 f&#233;vrier 2007 sur les obligations et instruments financiers d&#233;riv&#233;s en tant qu&#8217;objets de l&#8217;imp&#244;t f&#233;d&#233;ral direct, de l&#8217;imp&#244;t anticip&#233; et des droits de timbre</font><font style="font-family:inherit;font-size:12pt;">), in each case as issued, amended or substituted from time to time by the Swiss Federal Tax Administration.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Hazardous Material</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any material meeting the definition of a &#8220;hazardous substance&#8221; in CERCLA 42 U.S.C. &#167;9601(14) and all explosive or radioactive substances or wastes, toxic substances or wastes, pollutants, solid, liquid or gaseous wastes, including petroleum, petroleum distillates or fractions or residues, asbestos or asbestos containing materials, polychlorinated biphenyls (&#8220;PCBs&#8221;) or materials or equipment containing PCBs in excess of 50&#160;ppm, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law, or that reasonably could form the basis of an Environmental Claim.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Holdings</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech Holdings Inc., a Delaware corporation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">IFRS</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean International Financial Reporting Standards issued by the International Accounting Standards Board, applied in accordance with the consistency requirements thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">illegality</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 9.22.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Indebtedness</font><font style="font-family:inherit;font-size:12pt;">&#8221; of any person shall mean, without duplication, (a)&#160;all obligations of such person for borrowed money or with respect to deposits or advances of any kind (other than progress payments or similar partial or advance payments not in the nature of Indebtedness related to goods or services to be sold that are received in the ordinary course of business), (b)&#160;all obligations of such person evidenced by bonds, debentures, notes or similar instruments, (c)&#160;all obligations of such person upon which interest charges are customarily paid (other than trade payables incurred in the ordinary course of business), (d)&#160;all obligations of such person under conditional sale or other title retention agreements relating to property or assets purchased by such person, (e)&#160;all obligations of such person issued or assumed as the deferred purchase price of property or services (other than current trade liabilities incurred in the ordinary course of business), (f)&#160;all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such person, whether or not the obligations secured </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">thereby have been assumed, (g)&#160;all Guarantees by such person of Indebtedness of others, (h)&#160;all Capital Lease Obligations of such person and (i)&#160;all obligations of such person as an account party in respect of letters of credit and bankers&#8217; acceptances.  The Indebtedness of any person shall include the Indebtedness of any other entity (including any partnership in which such person is a general partner) to the extent such person is liable therefor as a result of such person&#8217;s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such person is not liable therefor.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Indemnified Taxes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Indemnity, Subrogation and Contribution Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean an Indemnity, Subrogation and Contribution Agreement substantially in the form of Exhibit&#160;D among GrafTech, the Guarantors (other than any Foreign Subsidiaries that are Guarantors) and the Collateral Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Ineligible Assignee</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech, any Affiliate of GrafTech and any natural person.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Installment Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 2.10.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Coverage Ratio</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section&#160;6.10.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Election Request</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a request by a Borrower to convert or continue a Revolving Borrowing in accordance with Section&#160;2.07.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Expense</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to GrafTech and the Subsidiaries on a consolidated basis for any period, the sum of (a)&#160;gross interest expense of GrafTech and the Subsidiaries for such period on a consolidated basis, including (i)&#160;the amortization of debt discounts, (ii)&#160;the amortization of all fees (including fees with respect to interest rate protection agreements) payable in connection with the incurrence of Indebtedness to the extent included in interest expense and (iii)&#160;the portion of any payments or accruals with respect to Capital Lease Obligations allocable to interest expense and (b)&#160;capitalized interest of GrafTech and the Subsidiaries on a consolidated basis for such period, minus (c)&#160;interest income of GrafTech and the Subsidiaries on a consolidated basis for such period.  For purposes of the foregoing, gross interest expense shall be determined after giving effect to any net payments made or received by GrafTech, the Borrowers and the other Subsidiaries with respect to interest rate protection agreements on a consolidated basis for such period.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Payment Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;with respect to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">is a part and, in the case of a Eurocurrency Borrowing with an Interest Period of more than three months&#8217; duration, each day prior to the last day of such Interest Period that occurs at intervals of three months&#8217; duration after the first day of such Interest Period, (b)&#160;with respect to any Base Rate Loan (other than a Swingline Loan), the last day of each March, June, September and December and the date on which such Loan is repaid or converted to a Eurocurrency Loan and (c)&#160;with respect to any Swingline Loan, the day that such Loan is required to be repaid.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Period</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Eurocurrency Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, two, three or six&#160;months (or, with the consent of each affected Lender, any other period not in excess of twelve months) thereafter, as the applicable Borrower may elect; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (i)&#160;if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (ii)&#160;any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii)&#160;any Interest Period in respect of a Borrowing that would otherwise end after the Revolving Maturity Date shall instead end on the Revolving Maturity Date.  For purposes of this definition, the date of a Borrowing initially shall be the date on which such Borrowing is made, and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest/Exchange Rate Protection Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any interest rate or currency hedging agreement or arrangement (a) which was entered into by GrafTech or any Subsidiary prior to the Second Restatement Effective Date or (b) which shall have been entered into by GrafTech or any Subsidiary after the Second Restatement Effective Date, and in each case designed to protect against fluctuations in interest rates or currency exchange rates or to take advantage of reduced interest rates by converting fixed rate obligations to floating rate obligations.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interpolated Screen Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Eurocurrency Loan denominated in any currency for any Interest Period, a rate per annum which results from interpolating on a linear basis between (a)&#160;the applicable Screen Rate for the longest maturity for which a Screen Rate is available that is shorter than such Interest Period and (b)&#160;the applicable Screen Rate for the shortest maturity for which a Screen Rate is available that is longer than such Interest Period, in each case as of the Specified Time on the Quotation Day.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Investment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 6.04.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">IRS</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the United&#160;States Internal Revenue Service.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Issuing Bank</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean each of  JPMorgan Chase Bank, N.A., Bank of America, N.A. and BNP Paribas, each in its capacity as the issuer of Letters of Credit, and their successors in such capacity as provided in Section&#160;2.05(l).  Any Issuing Bank may, in its discretion, arrange for one or more Letters of Credit to be issued by Affiliates of such Issuing Bank, in which case the term &#8220;Issuing Bank&#8221; shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Cash Collateral</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any and all deposits made by the Borrowers or LC Subsidiaries pursuant to Section 2.05(i) and interest and other amounts derived from the investment of such deposited amounts and included in such deposits.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Commitment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) in the case of JPMorgan Chase Bank, N.A., $16,666,666, (b) in the case of Bank of America, N.A., $16,666,666, (c) in the case of BNP Paribas, $16,666,666 and (d) in the case of any successor Issuing Bank, such amount as shall be separately agreed to by such Issuing Bank and GrafTech.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Disbursement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a payment made by an Issuing Bank in respect of a Letter of Credit.  The amount of any LC Disbursement made by an Issuing Bank in an Alternative Currency and not reimbursed by the applicable Borrower or LC Subsidiary shall be determined as set forth in paragraph (e) or (m) of Section 2.05, as applicable.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Exposure</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, the sum of (a)&#160;the aggregate undrawn amount of all outstanding Letters of Credit denominated in Dollars at such time, (b)&#160;the aggregate amount of the US Dollar Equivalents of the undrawn amounts of all outstanding Letters of Credit denominated in Alternative Currencies at such time, (c)&#160;the aggregate amount of all LC Disbursements denominated in Dollars that have not yet been reimbursed by or on behalf of the applicable Borrower or LC Subsidiary at such time and (d)&#160;the aggregate amount of the US Dollar Equivalents of the amounts of all LC Disbursements denominated in Alternative Currencies that have not yet been reimbursed by or on behalf of the applicable Borrower or LC Subsidiary at such time.  The LC Exposure of any Lender at any time shall be such Lender&#8217;s Applicable Percentage of the aggregate LC Exposure, adjusted to give effect to any reallocation under Section 2.21 of the LC Exposures of Defaulting Lenders in effect at such time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, without duplication, each of (a) the Borrowers, (b) the Subsidiaries set forth on Schedule 1.01 and (c) each other Wholly Owned Subsidiary that has been designated as an LC Subsidiary pursuant to Section&#160;2.05(j), other than any Subsidiary that has ceased to be an LC Subsidiary as provided in Section 2.05(j).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Subsidiary Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean an LC Subsidiary Agreement substantially in the form of Exhibit F&#8209;1.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Subsidiary Termination</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean an LC Subsidiary Termination substantially in the form of Exhibit F&#8209;2.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lender Presentation</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 3.15(a).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the persons listed on Schedule&#160;2.01 and any other person that shall have become a party hereto pursuant to an Assignment and Assumption, other than any such person that shall have ceased to be a party hereto pursuant to an Assignment and Assumption.  Unless the context otherwise requires, the term &#8220;Lenders&#8221; includes the Swingline Lenders.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Letter of Credit</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any letter of credit issued pursuant to this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Leverage Ratio</font><font style="font-family:inherit;font-size:12pt;">&#8221; as of the last day of any fiscal quarter shall mean the ratio of (a) Total Debt as of such day to (b) EBITDA for the four quarter period ended as of such day.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LIBO Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Eurocurrency Borrowing denominated in any currency for any Interest Period, the applicable Screen Rate as of the Specified Time on the Quotation Day.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lien</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any asset, (a)&#160;any mortgage, deed of trust, lien, pledge, encumbrance, charge or security interest in or on such asset, (b)&#160;the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c)&#160;in the case of securities, any purchase option, call or similar right of a third party with respect to such securities; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that contractual, statutory and common law rights of set-off shall not constitute Liens.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Liquidity</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, the sum of (a)(i) the total aggregate amount of the Available Commitments then in effect minus (ii) the total aggregate amount of the Revolving Exposures, and (b) Unrestricted Cash.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loan Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean this Agreement, the Amendment and Restatement Agreement, the Second Amendment and Restatement Agreement, any promissory note issued under Section&#160;2.04(d), the Guarantee Agreements, the Indemnity, Subrogation and Contribution Agreement, the Security Documents, the Reaffirmation Documents and each LC Subsidiary Agreement. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loan Modification Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 9.02(c).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loan Modification Offer</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 9.02(c).</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loan Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;&#160;shall mean GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco and each other Subsidiary that is a Guarantor.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loans</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the loans made by the Lenders to the Borrowers pursuant to this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Local Time</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) with respect to a Loan or Borrowing made to a Borrower in Dollars, New&#160;York City time, and (b)&#160;with respect to a Loan or Borrowing made to a Borrower in Euros, London time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Domestic Pledge Agreements</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) the Pledge Agreement dated as of March 26, 2012, governed by New York law, between Luxembourg Parent and the Collateral Agent for the benefit of the Secured Parties, and (b) the Pledge Agreement dated as of March 30, 2012, governed by New York law, between Luxembourg Holdco and the Collateral Agent for the benefit of the Secured Parties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Finance Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Domestic Subsidiary of either Luxembourg Parent or Luxembourg Holdco, or a branch office of either opened in the United States, the activities of which are in either case limited to the performance of cash management functions for certain Foreign Subsidiaries. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Holdco</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech Luxembourg II S.&#224;.r.l., a Luxembourg </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">soci&#233;t&#233; &#224; responsabilit&#233; limit&#233;e</font><font style="font-family:inherit;font-size:12pt;">&#32;that is a direct wholly owned subsidiary of Luxembourg Parent and an indirect, wholly owned subsidiary of GrafTech.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Law Limitations</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the limitations set forth beneath the caption &#8220;Luxembourg Parent and Luxembourg Holdco&#8221; on Schedule I to the European Guarantee and Luxembourg Security Agreement.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech Luxembourg I S.&#224;.r.l., a Luxembourg </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">soci&#233;t&#233; &#224; responsabilit&#233; limit&#233;e</font><font style="font-family:inherit;font-size:12pt;">&#32;that is a direct wholly owned subsidiary of GrafTech International Holdings and an indirect, wholly owned subsidiary of GrafTech.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Majority in Interest</font><font style="font-family:inherit;font-size:12pt;">&#8221;, when used in reference to Lenders of any Class, shall mean, at any time, (a) in the case of the Revolving Lenders, Lenders having Revolving Exposures and unused Revolving Commitments representing more than 50% of the sum of the Aggregate Revolving Exposures and the unused Aggregate Revolving Commitment at such time and (b) in the case of the Term Lenders, Lenders holding outstanding Term Loans or Term Commitments representing more than 50% of all Term Loans or Term Commitments outstanding at such time.  For purposes of this definition, the Swingline Exposure of any Revolving Lender that is a Swingline Lender shall be deemed to exclude that portion of its Swingline Exposure that exceeds its Applicable Percentage of all outstanding Swingline Loans (except to the extent of any portion of its Swingline Loans in which a Defaulting Lender is the participant), and the unused Revolving Commitment of any such Revolving Lender shall be determined without regard to any such excess amount.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Material Adverse Effect</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;a materially adverse effect on the assets, business, properties, financial condition or results of operations of GrafTech, the Borrowers and the other Subsidiaries, taken as a whole, (b)&#160;a material impairment of the ability of GrafTech, a Borrower or any other Subsidiary to perform any of its material obligations under any Loan Document to which it is or will be a party or (c)&#160;an impairment of the validity or enforceability of, or a material impairment of the material rights, remedies or benefits available to the Lenders, the Issuing Banks, the Administrative Agent or the Collateral Agent under, any Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Material Obligation</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Indebtedness (other than Indebtedness under any Loan Document) of, or obligations in respect of any Interest/Exchange Rate Protection Agreement, Commodity Rate Protection Agreement or Cash Management Arrangement of, GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco or any other Subsidiary, in each case having an aggregate principal amount in excess of $35,000,000.  For purposes of determining a Material Obligation, the &#8220;principal amount&#8221; of the obligations of GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco or any other Subsidiary in respect of any Interest/Exchange Rate Protection Agreement or Commodity Rate Protection Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements (or other offsetting agreements that by the terms of the applicable Interest/Exchange Rate Protection Agreement or Commodity Rate Protection Agreement reduce the amount otherwise due thereunder)) that GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco or such other Subsidiary would, as reasonably determined by a Financial Officer of Finance, be required to pay if such Interest/Exchange Rate Protection Agreement or Commodity Rate Protection Agreement were terminated at such time. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">MNPI</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean material information concerning GrafTech, the Borrowers and the other Subsidiaries and their securities that has not been disseminated in a manner making it available to investors generally, within the meaning of Regulation FD under the Securities Act and the Exchange Act.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Moody&#8217;s</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Moody&#8217;s Investors Service, Inc.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Mortgaged Properties</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean each parcel of real property and improvements thereto identified on Schedules&#160;3.23(a)(i) and 3.23(b)(i) as a Mortgaged Property, and each other parcel of real property and improvements thereto from time to time hereafter owned in fee or held as a lessee under a ground lease by GrafTech, Finance or any other Domestic Subsidiary (other than GrafTech NY Inc.).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Mortgages</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean mortgages, deeds of trust, leasehold mortgages, assignments of leases and rents and other security documents reasonably satisfactory to the Collateral Agent, delivered pursuant to Section&#160;4.01, 4.03 or 5.11 or Section 6 of the Second Amendment and Restatement Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Multiemployer Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a multiemployer plan as defined in Section&#160;4001(a)(3) of ERISA to which a Borrower or any ERISA Affiliate (other than one </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">considered an ERISA Affiliate only pursuant to subsection&#160;(m) or (o) of Code Section&#160;414) is making or accruing an obligation to make contributions or has within any of the preceding five plan years made or accrued an obligation to make contributions.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Net Proceeds</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any event, (a)&#160;the cash proceeds received, but only as and when received, in respect of such event, including any cash received in respect of any non-cash proceeds, net of (b)&#160;the sum of (i)&#160;all reasonable fees, commissions and out-of-pocket expenses, costs and charges paid by GrafTech and the Subsidiaries to third parties (other than Affiliates) in connection with such event, (ii)&#160;in the case of a sale, transfer or other disposition of an asset (including pursuant to a Sale and Lease-Back Transaction or a casualty or a condemnation or similar proceeding), the amount of all payments required to be made by GrafTech and the Subsidiaries as a result of such event to repay Indebtedness (other than Loans) secured by such asset or otherwise subject to mandatory prepayment as a result of such event, and (iii)&#160;the amount of all taxes paid (or reasonably estimated to be payable) by GrafTech and the Subsidiaries, and the amount of any reserves established by GrafTech and the Subsidiaries to fund contingent liabilities reasonably estimated to be payable, in each case that are directly attributable to such event (as determined reasonably and in good faith by a Financial Officer of GrafTech).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Non-Defaulting Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, any Lender that is not a Defaulting Lender at such time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Non-Qualifying Bank</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any person who does not qualify as a Qualifying Bank.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Non-Refundable Portion</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 2.13(f).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Notes Liquidity Test</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at the time of calculation, that (a) Liquidity is not less than $300,000,000 at such time, (b) the Availability Condition is satisfied at such time and (c) GrafTech is in compliance with the covenants contained in Sections&#160;6.10 and 6.11, recomputed as at the last day of the most recently ended fiscal quarter of GrafTech for which financial statements have been delivered under Section&#160;5.04(a) or (b) on a pro forma basis after giving effect to any subsequent acquisition, disposition or incurrence of Indebtedness permitted under this Agreement, as if such acquisition, disposition or incurrence, as applicable, had occurred on the first day of each relevant period for testing such compliance.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Obligations</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;the due and punctual payment of (i)&#160;the principal of and premium, if any, and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii)&#160;each payment required to be made by a Borrower or any other Subsidiary under this Agreement in respect of any Letter of Credit, when and as due, </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral, (iii)&#160;the principal of and premium, if any, and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on all Indebtedness of Luxembourg Parent, Luxembourg Holdco and Swissco owed to Finance or any other Loan Party, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (iv)&#160;all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), of GrafTech, Luxembourg Parent, the Borrowers and the other Subsidiaries under this Agreement and the other Loan Documents and the Indebtedness referred to in subclause (iii) of this clause (a), (b)&#160;the due and punctual performance of all covenants, agreements, obligations and liabilities of GrafTech, Luxembourg Parent, the Borrowers and the other Subsidiaries under or pursuant to this Agreement and the other Loan Documents, (c)&#160;unless otherwise agreed upon in writing by the applicable Lender party thereto, the due and punctual payment and performance of all obligations of GrafTech, Luxembourg Parent, the Borrowers and the other Subsidiaries, monetary or otherwise, under each Interest/Exchange Rate Protection Agreement and each Commodity Rate Protection Agreement with any counterparty that is a Lender (or an Affiliate thereof) under this Agreement on the Restatement Effective Date or the Second Restatement Effective Date, or that shall have been a Lender (or an Affiliate thereof) under this Agreement or the Existing Credit Agreement at the time such Interest/Exchange Rate Protection Agreement or Commodity Rate Protection Agreement was entered into, and (d) unless otherwise agreed upon in writing by the applicable Lender party thereto, the due and punctual payment and performance of the obligations of GrafTech, Luxembourg Parent, the Borrowers and the other Subsidiaries, monetary or otherwise, under each Cash Management Arrangement with any Person that is a Lender (or an Affiliate thereof) under this Agreement on the Restatement Effective Date or the Second Restatement Effective Date, or that shall have been a Lender (or an Affiliate thereof) under this Agreement or the Existing Credit Agreement at the time such Cash Management Arrangement was entered into; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, that notwithstanding anything to the contrary set forth herein, the amounts payable at any time by any CFC Guarantor under the European Guarantee and Luxembourg Security Agreement or any applicable Security Document entered into by such CFC Guarantor shall be subject at any time, and as applicable, to, in the case of (x) either Luxembourg Parent or Luxembourg Holdco, the Luxembourg Law Limitations and (y) Swissco, the Swiss Law Limitations.  For the avoidance of doubt, (i) the Luxembourg Law Limitations shall only apply to the aggregate Upstream and Cross-Stream Obligations of Luxembourg Parent or Luxembourg Holdco (and not to Obligations that are Luxembourg Parent&#8217;s or Luxembourg Holdco&#8217;s primary obligations or the primary obligations of Foreign Subsidiaries that are direct or indirect subsidiaries of Luxembourg Parent or Luxembourg Holdco), as described under the caption &#8220;Luxembourg Parent and Luxembourg Holdco&#8221; on Schedule I to the European Guarantee and Luxembourg Security Agreement and (ii) the Swiss Law Limitations shall only apply to the aggregate Upstream and Cross-Stream </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Obligations of Swissco (and not to Obligations that are Swissco&#8217;s primary obligations or the primary obligations of Foreign Subsidiaries that are direct or indirect subsidiaries of Swissco), as described under the caption &#8220;Swissco&#8221; on Schedule I to the European Guarantee and Luxembourg Security Agreement.        </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Other Taxes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any and all present or future recording, stamp, documentary, excise, transfer, sales, property or similar taxes, charges or levies arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Participant</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section&#160;9.04(e).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Participant Register</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section&#160;9.04(e).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PBGC</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Pension Benefit Guaranty Corporation referred to and defined in ERISA. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Perfection Certificate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Perfection Certificate in the form of Exhibit K hereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Permitted Acquisition</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any acquisition from a person other than GrafTech or a Subsidiary of all or substantially all the assets of, or any shares or other equity interests in, a person or division or line of business of a person (or any subsequent Investment made in a previously acquired Permitted Acquisition) if immediately after giving effect thereto:  (a)&#160;no Default or Event of Default shall have occurred and be continuing or would result therefrom, (b)&#160;all transactions related thereto shall be consummated in accordance with applicable laws, (c)&#160;any acquired or newly formed corporation, partnership, association or other business entity shall be a Subsidiary that is owned directly by GrafTech, a domestic Wholly Owned Subsidiary, Luxembourg Parent, Luxembourg Holdco or Swissco (unless there is a material tax or legal or other economic disadvantage in having GrafTech, a domestic Wholly Owned Subsidiary, Luxembourg Parent, Luxembourg Holdco or Swissco hold such Capital Stock, in which case such Capital Stock may be held directly by another Foreign Subsidiary) and all actions required to be taken, if any, with respect to such assets or such acquired or newly formed Subsidiary under Section&#160;5.11 shall have been taken, (d)&#160;GrafTech shall be in compliance, on a pro forma basis after giving effect to such acquisition or formation, with the covenants contained in Sections&#160;6.10 and 6.11 recomputed as at the last day of the most recently ended fiscal quarter of GrafTech for which financial statements have been delivered under Section&#160;5.04(a) or (b) as if such acquisition or formation had occurred on the first day of each relevant period for testing such compliance, and GrafTech shall have delivered to the Administrative Agent a certificate of GrafTech signed by a Responsible Officer of GrafTech to such effect, together with all relevant financial information for such person or division or line of business of a person (including a summary of the financial terms of the acquisition or Investment and the material terms of any joint venture arrangements), (e)&#160;the Availability Condition shall be satisfied following such </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">acquisition and payment of all related costs and expenses and (f)&#160;any acquired or newly formed Subsidiary shall not be liable for any Indebtedness (except for Indebtedness permitted by Section&#160;6.01). </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Permitted Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean an amendment to this Agreement and the other Loan Documents, effected in connection with a Loan Modification Offer pursuant to Section 9.02(c), providing for an extension of the Revolving Maturity Date applicable to the Loans and/or Commitments of the Accepting Lenders and, in connection therewith, (a) a change in the Applicable Rate with respect to the Loans and/or Commitments of the Accepting Lenders and/or (b) an increase in the fees payable to, or the inclusion of new fees to be payable to, the Accepting Lenders.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Permitted Investments</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean:  (a)&#160;direct obligations of the United&#160;States of America or any agency thereof or obligations guaranteed by the United&#160;States of America or any agency thereof; (b)&#160;time deposit accounts, certificates of deposit and money market deposits maturing within 180&#160;days of the date of acquisition thereof issued by a bank or trust company which is organized under the laws of the United&#160;States of America, any state thereof or any foreign country recognized by the United&#160;States of America having capital, surplus and undivided profits aggregating in excess of $250,000,000 (or the foreign currency equivalent thereof) and whose long-term debt, or whose parent holding company&#8217;s long-term debt, is rated A (or such similar equivalent rating) or higher at the time of deposit by at least one nationally recognized statistical rating organization (as defined in Rule&#160;436 under the Securities Act of 1933, as amended); (c)&#160;repurchase obligations with a term of not more than 30&#160;days for underlying securities of the types described in clause&#160;(a) above entered into with a bank or trust company meeting the qualifications described in clause&#160;(b) above; (d)&#160;commercial paper, maturing not more than 180&#160;days after the date of acquisition, issued by a corporation (other than an Affiliate of GrafTech) organized and in existence under the laws of the United&#160;States of America or any foreign country recognized by the United&#160;States of America with a rating at the time as of which any Investment therein is made of P&#8209;1 (or higher) according to Moody&#8217;s, or A&#8209;1 (or higher) according to S&amp;P; (e)&#160;securities with maturities of six months or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United&#160;States of America, or by any political subdivision or taxing authority thereof, and rated at least A by S&amp;P or A2 by Moody&#8217;s; (f)&#160;in the case of any Subsidiary organized in a jurisdiction outside the United&#160;States:&#160;&#160;(i)&#160;direct obligations of the sovereign nation (or any agency thereof) in which such Subsidiary is organized and is conducting business or in obligations fully and unconditionally guaranteed by such sovereign nation (or any agency thereof); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that such obligations have a rating of at least A by S&amp;P or A2 by Moody&#8217;s (or the equivalent thereof from comparable foreign rating agencies), (ii)&#160;Investments of the type and maturity described in clauses&#160;(a) through (e) above of foreign obligors, which Investments or obligors (or the parents of such obligors) have ratings described in such clauses or equivalent ratings from comparable foreign rating agencies or (iii)&#160;Investments of the type and maturity described in clauses&#160;(a) through (e) above of foreign obligors (or the parents of such obligors), which Investments or obligors (or the parents of such obligors) are not rated as provided in such clauses or in clause&#160;(ii) above </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">but which are, in the reasonable judgment of GrafTech, comparable in investment quality to such Investments and obligors (or the parents of such obligors); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the aggregate face amount outstanding at any time of such Investments of all Foreign Subsidiaries made pursuant to this clause&#160;(iii) does not exceed $75,000,000; (g)&#160;mutual funds whose investment guidelines restrict such funds&#8217; investments to those satisfying the provisions of clauses&#160;(a) through (e) above; and (h)&#160;time deposit accounts, certificates of deposit and money market deposits in an aggregate face amount not in excess of 1/2 of 1% of Total Assets as of the end of GrafTech&#8217;s most recently completed fiscal year.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Permitted Refinancing Notes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any senior subordinated unsecured notes issued by GrafTech, and the Guarantees thereof by any Domestic Subsidiary that is a Loan Party, incurred to repay, prepay, refinance or redeem the Senior Subordinated Notes, provided that (a) as promptly as practicable and in any event within 30 days after the date of the issuance or incurrence thereof, 100% of the Net Proceeds thereof shall be applied to repay, prepay, refinance or redeem the Senior Subordinated Notes, (b) such notes, and any Guarantees thereof, are subordinated in right of payment to all of the Obligations on terms no less favorable to the Lenders than the terms of the Senior Subordinated Notes, (c) the stated final maturity thereof shall be no earlier than 91 days after April 23, 2019, and shall not be subject to any conditions that could result in such stated final maturity occurring on a date that precedes the 91st day after April 23, 2019, (d) such notes shall not be required to be repaid, prepaid, redeemed, repurchased or defeased, whether on one or more fixed dates, upon the occurrence of one or more events or at the option of any holder thereof (except, in each case, upon the occurrence of an event of default or a change in control) prior to the 91st day after April 23, 2019, (e) the terms, conditions and covenants of such notes shall be such as are typical and customary at the time of the issuance of such notes for high yield subordinated debt securities issued in a public offering (as determined by the Board of Directors or senior management of GrafTech in good faith), (f) no Subsidiary other than any Domestic Subsidiary that is a Loan Party shall Guarantee obligations thereunder, and each such Guarantee (i) shall provide for the release and termination thereof, without action by any person, upon any release and termination of the Guarantee by the applicable Subsidiary of the Obligations and (ii) shall be subordinated to the Guarantee by the applicable Subsidiary of the Obligations on terms no less favorable to the Lenders than the subordination provisions of such notes, and (g) the obligations in respect thereof (and any Guarantee thereof) shall not be secured by any Lien on any asset of GrafTech or any Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Permitted Subsidiary Investment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) any Permitted Acquisition, (b) any other Investment by any Loan Party in Capital Stock of, any Subsidiary or other person that is not a Loan Party that would be a Permitted Acquisition but for the fact that it is an acquisition of less than all the Capital Stock in such Subsidiary or other person, and (c) any loan or advance by any Loan Party to, or Guarantee by any Loan Party of Indebtedness of, or other cash Investment by any Loan Party in, any Subsidiary.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">34</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Permitted Subsidiary Transfer</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the transfer from any Subsidiary Loan Party to any Subsidiary that is not a Subsidiary Loan Party but at least 90% of the outstanding Capital Stock of which is owned by GrafTech or a Wholly Owned Subsidiary of inventory and equipment in the ordinary course of business consistent with past practice.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">person</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any natural person, corporation, limited liability company, business trust, joint venture, association, company, partnership or Governmental Authority.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any employee pension benefit plan, as defined in Section&#160;3(2) of ERISA (other than a Multiemployer Plan), subject to the provisions of Title&#160;IV of ERISA or Section&#160;412 of the Code sponsored, maintained or contributed to by the Borrowers or any ERISA Affiliate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Platform</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 9.18(b).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Pledge Agreements</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;the Domestic Pledge Agreement; (b) pledge agreements or similar agreements entered into by GrafTech International Holdings (as direct parent of Luxembourg Parent), Luxembourg Parent, Luxembourg Holdco and Swissco giving effect to the Collateral and Guarantee Requirement (including the Luxembourg Domestic Pledge Agreements and the Swissco Pledge Agreement) for the benefit of the Secured Parties and in form and substance reasonably satisfactory to the Collateral Agent;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">and (c)&#160;in connection with pledges of Capital Stock in, or Indebtedness owed by, Foreign Subsidiaries, other pledge agreements or similar agreements giving effect to the Collateral and Guarantee Requirement and in form and substance reasonably satisfactory to the Collateral Agent. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Prime Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A., as its prime rate in effect at its principal office in New&#160;York City.  Each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Private Side Lender Representatives</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Lender, representatives of such Lender that are not Public Side Lender Representatives. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Production Capacity Rights</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the right to acquire, at prevailing market prices at the time of any given purchase, up to a contractually determined aggregate amount or percentage of the overall production capacity of a particular vendor or production facility.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Properties</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 3.17(a).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Public Side Lender Representatives</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Lender, representatives of such Lender that do not wish to receive MNPI.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">35</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Qualifying Bank</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any legal entity which is recognized as a bank by the banking laws in force in its country of incorporation, or if acting through a branch, in the country of that branch, and which exercises as its main purpose a true banking activity, having bank personnel, premises, communication devices of its own and the authority of decision-making and has a genuine banking activity.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Quotation Day</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any currency for any Interest Period, the day two Business Days prior to the first day of such Interest Period, in each case unless market practice differs for loans such as the applicable Loans priced by reference to rates quoted in the London interbank market, in which case the Quotation Day for such currency shall be determined by the Administrative Agent in accordance with market practice for such loans priced by reference to rates quoted in the London interbank market (and if quotations would normally be given by leading banks for such loans priced by reference to rates quoted in the London interbank market on more than one day, the Quotation Day shall be the last of those days).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirmation Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean affirmations, reaffirmations, addenda, amendments or other modifying or confirmatory documents in form and substance reasonably satisfactory to the Collateral Agent. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Related Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any specified person, such person&#8217;s Affiliates and the respective directors, officers, employees, agents and advisors of such person and such person&#8217;s Affiliates.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Release</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in CERCLA, 42 U.S.C. &#167;9601(22).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Remedial Action</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) &#8220;remedial action&#8221; as such term is defined in CERCLA, 42&#160;U.S.C. &#167;&#160;9601(24), and (b)&#160;all other actions, including studies and investigations, required by any Governmental Authority or voluntarily undertaken to:  (i)&#160;clean up, remove, treat, abate or in any other way respond to any Hazardous Material in the environment; (ii)&#160;prevent the Release or threat of Release, or minimize the further Release, of any Hazardous Material; or (iii) monitor the presence of Hazardous Material in the environment or the progress of any treatment or abatement program.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reportable Event</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any reportable event as defined in Section&#160;4043 of ERISA or the regulations issued thereunder with respect to a Plan (other than a Plan maintained by an ERISA Affiliate that is considered an ERISA Affiliate only pursuant to subsection&#160;(m) or (o) of Code Section&#160;414).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Required Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, Lenders having Term Loans, Revolving Exposures and unused Commitments (excluding commitments to issue Letters of Credit) representing more than 50% of the sum of all Term Loans, Revolving Exposures and unused Commitments (excluding commitments to issue Letters of Credit) at such time.  For purposes of this definition, the Swingline Exposure of any Revolving Lender that is a Swingline Lender shall be deemed to exclude that portion of its </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">36</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Swingline Exposure that exceeds its Applicable Percentage of all outstanding Swingline Loans (except to the extent of any portion of its Swingline Loans in which a Defaulting Lender is the participant), and the unused Revolving Commitment of any such Revolving Lender shall be determined without regard to any such excess amount. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Responsible Officer</font><font style="font-family:inherit;font-size:12pt;">&#8221; of any person shall mean any executive officer or Financial Officer of such person and any other officer or similar official thereof responsible for the administration of the obligations of such person in respect of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restatement Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean April 23, 2014.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restricted Payment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any dividend or other distribution (whether in cash, securities or other property) with respect to any Capital Stock of GrafTech, a Borrower or any other Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancelation or termination of any Capital Stock of GrafTech, a Borrower or any other Subsidiary or any option, warrant or other right to acquire any such Capital Stock, but not any payments in respect of deferred compensation, stock appreciation rights, phantom stock or similar arrangements.  &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restricted Payment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall also include any spin off or other non-cash distribution effected under Section 6.05(j).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Revolving Availability Period</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the period from and including the Second Restatement Effective Date to but excluding the earlier of (a)&#160;the 10th day prior to the Revolving Maturity Date and (b)&#160;the date of termination of the Commitments.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Revolving Borrowing</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Borrowing comprised of Revolving Loans.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Revolving Commitment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to each Lender, the commitment of such Lender to make Revolving Loans pursuant to Section&#160;2.01, to acquire participations in Letters of Credit pursuant to Section&#160;2.05 and to acquire participations in Swingline Loans pursuant to Section&#160;2.20, expressed as an amount representing the maximum aggregate amount of such Lender&#8217;s Revolving Exposure, as such commitment may be (a)&#160;reduced from time to time pursuant to Section&#160;2.08 and (b)&#160;reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section&#160;9.04.  The initial amount of each Lender&#8217;s Commitment is set forth on Schedule&#160;2.01 or in the Assignment and Assumption pursuant to which Lender shall have assumed its Commitment, as applicable.  The aggregate amount of the Revolving Commitments on the Second Restatement Effective Date is $400,000,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Revolving Exposure</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Lender at any time, the sum at such time, without duplication, of (a)&#160;such Lender&#8217;s Applicable Percentage of the principal amounts of the outstanding Revolving Loans denominated in Dollars, plus (b)&#160;such Lender&#8217;s Applicable Percentage of the aggregate amount of the US Dollar </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Equivalents of the principal amounts of the outstanding Revolving Loans denominated in Euros, plus (c)&#160;the aggregate amount of such Lender&#8217;s LC Exposure, plus (d)&#160;the aggregate amount of such Lender&#8217;s Swingline Exposure.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Revolving Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Lender with a Revolving Commitment or Revolving Exposure.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Revolving Loan</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Loan made pursuant to clause (b) of Section 2.01.  Each Revolving Loan denominated in Dollars shall be a Eurocurrency Loan or a Base Rate Loan, and each Revolving Loan denominated in Euros shall be a Eurocurrency Loan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Revolving Maturity Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean April 23, 2019; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that if (a) prior to August 30, 2015, the Senior Subordinated Notes have not been refinanced or repaid in full in accordance with this Agreement and (b) GrafTech shall not have satisfied the Notes Liquidity Test as of August 20, 2015, &#8220;Revolving Maturity Date&#8221; shall mean August 30, 2015; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:12pt;">, if as of August 30, 2015, the Notes Liquidity Test is satisfied, then &#8220;Revolving Maturity Date&#8221; shall mean April 23, 2019, unless, at any time after August 30, 2015, and prior to the earlier to occur of (A) November 30, 2015, and (B) the refinancing or repayment in full of the Senior Subordinated Notes in accordance with this Agreement, as applicable, the Notes Liquidity Test is not satisfied, in which case the &#8220;Revolving Maturity Date&#8221; shall be the first date on which the Notes Liquidity Test is not satisfied.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">S&amp;P</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Standard &amp; Poor&#8217;s.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sale and Lease-Back Transaction</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section&#160;6.03.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sanctions</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty&#8217;s Treasury of the United Kingdom.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sanctioned Country</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, a country, region or territory which is the subject or target of any Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea, Sudan and Syria).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sanctioned Person</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, (a) any person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, the or by the United Nations Security Council, the European Union or any EU member state, (b) any person operating, organized or resident in a Sanctioned Country or (c) any person owned or controlled by any such person.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Screen Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, in respect of the LIBO Rate for any Interest Period, a rate per annum equal to the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for deposits in the applicable currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period as displayed on the applicable Reuters screen page (currently page LIBOR01) (or, in the event such rate does not appear on a page of the Reuters screen, on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that if any Screen Rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement.  If, as to any currency, no Screen Rate shall be available for a particular Interest Period but Screen Rates shall be available for maturities both longer and shorter than such Interest Period, than the Screen Rate for such Interest Period shall be the Interpolated Screen Rate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Seadrift</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Seadrift Coke L.P., a Delaware limited partnership.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Second Amendment and Restatement Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Second Amendment and Restatement Agreement dated as of February 27, 2015, among GrafTech, Finance, Swissco, Luxembourg Parent, Luxembourg Holdco, the LC Subsidiaries party thereto, the lenders party thereto and the Administrative Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Second Restatement Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 4 of the Second Amendment and Restatement Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Secured Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Agents, each Lender, each Issuing Bank and each other person to which any of the Obligations is owed.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Security Agreements</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;a Security Agreement substantially in the form of Exhibit G among GrafTech, Finance and (except as otherwise provided in the definition of Collateral and Guarantee Requirement) the other Domestic Subsidiaries in favor of the Collateral Agent for the benefit of the Secured Parties, (b)&#160;an Intellectual Property Security Agreement substantially in the form of Exhibit H between GrafTech, Finance and (except as otherwise provided in the definition of Collateral and Guarantee Requirement) the other Domestic Subsidiaries in favor of the Collateral Agent for the benefit of the Secured Parties, and (c) in connection with the creation of security interests in the assets of Luxembourg Parent, Luxembourg Holdco and Swissco, other security agreements or similar agreements giving effect to the Collateral and Guarantee Requirement and in form and substance reasonably satisfactory to the Collateral Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Security Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Security Agreements, the Pledge Agreements, the Mortgages and each other security agreement, control agreement or other instrument executed and delivered in satisfaction of the Collateral and Guarantee Requirement or pursuant to Section&#160;5.11 or in connection with the deposit of collateral with the Administrative Agent as contemplated by the definition of Disposition Pending Reinvestment or under Section 2.05(i) or otherwise.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Senior Notes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the 2012 Senior Notes and any additional senior unsecured notes referred to in Section 6.01(b)(vi).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Senior Notes Issuance Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the date, if any, after December 19, 2014, and on or prior to May 15, 2015, on which GrafTech shall have issued not less than $150,000,000 of Senior Notes.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Senior Secured Deb</font><font style="font-family:inherit;font-size:12pt;">t&#8221; shall mean, with respect to GrafTech and the Subsidiaries on a consolidated basis, at any time, that portion of Total Debt which is secured by any assets of GrafTech or any Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Senior Subordinated Notes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech&#8217;s Senior Subordinated Notes due November 30, 2015.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Significant Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Seadrift, GrafTech USA, Holdings, Global, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco, any LC Subsidiary, any Subsidiary owning Capital Stock of a Significant Subsidiary or an LC Subsidiary and any other Subsidiary that at the date of any determination on a consolidated basis (a)&#160;accounts for 2.5% or more of the consolidated total assets of GrafTech, (b)&#160;has accounted for 2.5% or more of EBITDA for each of the two consecutive periods of four fiscal quarters immediately preceding the date of determination or (c)&#160;has been designated by GrafTech in writing to the Administrative Agent as a Significant Subsidiary, which designation has not subsequently been withdrawn.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Specified Time</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to the LIBO Rate, 11:00 a.m., London time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Statutory Reserve Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves), expressed as a decimal, established by the Board of Governors to which the Administrative Agent is subject for eurocurrency funding (currently referred to as &#8220;Eurocurrency Liabilities&#8221; in Regulation D of the Board of Governors).  Such reserve percentages shall include those imposed pursuant to such Regulation D.  Eurocurrency Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation.  The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any person (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">parent</font><font style="font-family:inherit;font-size:12pt;">&#8221;) at any date of determination, any person (other than a natural person or a Governmental Authority) the accounts of which would be consolidated with those of the parent in the parent&#8217;s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other person (other than a natural </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">person or a Governmental Authority) (a)&#160;of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, at such date, owned, controlled or held, or (b)&#160;that is, at such date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any direct or indirect subsidiary of GrafTech (other than any Unrestricted Subsidiary).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subsidiary Loan Party</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any Loan Party that is a Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Supply Chain Arrangement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) each of the Agreement between Swissco and UTEXEM Logistics Limited (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">UTEXEM</font><font style="font-family:inherit;font-size:12pt;">&#8221;) under which UTEXEM buys raw materials from Conoco which it resells to Swissco on longer payment terms and other similar supply chain contracts, in each case entered into to obtain longer payment terms for the purchase of raw materials, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that (i) the aggregate amount owed by Swissco under all such agreements at any time shall not exceed $50,000,000 and (ii) the payment terms shall not be longer than 90 days under any such agreement; and (b) each of the existing agreement between GrafTech Mexico S.A. de C.V. and Banorte under which Banorte buys raw materials and other supplies which it resells to GrafTech Mexico S.A. de C.V. on longer payment terms and other similar supply chain contracts of Foreign Subsidiaries, in each case entered into to obtain longer payment terms for the purchase of raw materials and other supplies, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that (1) the aggregate amount owed by Foreign Subsidiaries under all such agreements at any time shall not exceed $15,000,000 and (2) the payment terms shall not be longer than 90 days under any such agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swingline Commitment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to each Swingline Lender, the commitment of such Swingline Lender to make Swingline Loans pursuant to Section 2.20, expressed as an amount representing the maximum aggregate principal amount of such Swingline Lender&#8217;s outstanding Swingline Loans hereunder.  The initial amount of each Swingline Lender&#8217;s Swingline Commitment is set forth on Schedule&#160;2.20 or in the joinder agreement pursuant to which it became a Swingline Lender hereunder.  The aggregate amount of the Swingline Commitments on the Second Restatement Effective Date is $35,000,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swingline Exposure</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, at any time, the US Dollar Equivalent of the aggregate principal amount of all Swingline Loans outstanding at such time.  The Swingline Exposure of any Revolving Lender at any time shall be the sum of (a) its Applicable Percentage of the aggregate principal amount of all Swingline Loans outstanding at such time (excluding, in the case of any Revolving Lender that is a Swingline Lender, Swingline Loans made by it and outstanding at such time to the extent that the other Revolving Lenders shall not have funded their participations in such Swingline Loans), adjusted to give effect to any reallocation under Section&#160;2.20 of the Swingline Exposure of Defaulting Lenders in effect at such time, and (b) in the case of any Lender that is a Swingline Lender, the aggregate principal amount of all Swingline </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Loans made by such Lender and outstanding at such time to the extent that the other Lenders shall not have funded their participations in such Swingline Loans.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swingline Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder and any other Revolving Lender designated as a Swingline Lender pursuant to a joinder agreement executed by the Borrowers and such Revolving Lender and reasonably satisfactory to the Administrative Agent, in each case in its capacity as lender of Swingline Loans hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swingline Loan</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Loan made pursuant to Section 2.20.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swiss Federal Tax Administration</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Swiss federal tax authorities referred to in Article 34 of the Swiss Withholding Tax Act. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swiss Law Limitations</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the limitations set forth beneath the caption &#8220;Swissco&#8221; on Schedule I to the European Guarantee and Luxembourg Security Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swiss Ten Non-Bank Rule</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the rule that the aggregate number of Lenders and Participants (as defined in Section 9.04(e)) in respect of Loans to Swissco pursuant to this Agreement which are not Qualifying Banks must not at any time exceed ten, all in accordance with the Guidelines.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swiss Twenty Non-Bank Rule</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the rule that the aggregate number of (a)&#160;creditors other than Qualifying Banks of Swissco under all outstanding debts relevant for the classification as debenture (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Kassenobligation</font><font style="font-family:inherit;font-size:12pt;">) (including intragroup loans, facilities or private placements (including Loans pursuant to this Agreement)) and (b)&#160;where the number of debt instruments is relevant, the number of such debt instruments, being understood that for purposes hereof the maximum number of ten Non-Qualifying Banks permitted under this Agreement shall be taken into account (whether or not ten Non-Qualifying Banks do so participate at any given time), must not at any time exceed twenty, all in accordance within the meaning of the Guidelines.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swiss Withholding Tax</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Swiss withholding tax as per the Swiss Federal Withholding Tax Act.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swiss Withholding Tax Act</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Swiss federal act on withholding tax, of October 13, 1965, as modified from time to time. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swiss Withholding Tax Rules</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, together, the Swiss Ten Non-Bank Rule and/or the Swiss Twenty Non-Bank Rule. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swissco</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean GrafTech Switzerland S.A., a Swiss corporation that is a direct wholly owned subsidiary of Luxembourg Holdco and an indirect, wholly owned subsidiary of GrafTech.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swissco Obligations</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Obligations of Swissco (including its Obligations arising under the European Guarantee and Luxembourg Security Agreement pursuant to which Swissco has guaranteed the Obligations of each other Foreign Subsidiary that is a CFC), subject, as applicable, to the Swiss Law Limitations. For the avoidance of doubt, the Swiss Law Limitations shall only apply to the aggregate Upstream and Cross-Stream Obligations of Swissco (and not to Obligations that are Swissco&#8217;s primary obligations or the primary obligations of Foreign Subsidiaries that are direct or indirect subsidiaries of Swissco), as described under the caption &#8220;Swissco&#8221; on Schedule I to the European Guarantee and Luxembourg Security Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swissco Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Second Amended and Restated Pledge Agreement dated as of April 23, 2014, between Swissco and the Collateral Agent for the benefit of the Secured Parties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Taxes</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean any and all present or future taxes, levies, imposts, duties, deductions, charges, assessments, fees or withholdings imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Tax Sharing Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a)&#160;the tax sharing agreement dated February&#160;16, 2000, among GrafTech, Global, Finance, GrafTech International Holdings, UCAR Holdings II, Inc., UCAR Holdings III, Inc., GrafTech NY Inc. f/k/a Union Carbide Grafito, Inc. and UCAR Composites Inc.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">and (b)&#160;any other tax allocation agreement between or among GrafTech, a Borrower or any of the other Subsidiaries with respect to consolidated or combined tax returns including a Borrower or any of the other Subsidiaries, but only to the extent that amounts payable from time to time by a Borrower or any such other Subsidiary under any such agreement do not exceed the corresponding tax payments that  such Borrower or such other Subsidiary would have been required to make to any relevant taxing authority had such Borrower or such other Subsidiary not joined in such consolidated or combined return, but instead had filed returns including only Finance and the other Subsidiaries (</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that any such agreement may provide that, if a Borrower or any such other Subsidiary ceases to be a member of the affiliated group of corporations of which GrafTech is the common parent for purposes of filing a consolidated federal income tax return (such cessation, a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Deconsolidation Event</font><font style="font-family:inherit;font-size:12pt;">&#8221;), then such Borrower or such other Subsidiary will indemnify GrafTech with respect to any Federal, state or local income, franchise or other tax liability (including any related interest, additions or penalties) imposed on GrafTech as the result of an audit or other adjustment with respect to any period prior to such Deconsolidation Event that is attributable to such Borrower, such other Subsidiary or any predecessor business thereof (computed as if such Borrower, such other Subsidiary or such predecessor business, as the case may be, were a stand-alone entity that filed separate tax returns as an independent corporation), but only to the extent that any such tax liability exceeds any liability for taxes recorded on the books of such Borrower or such other Subsidiary with respect to any such period).</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Term Borrowing</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Borrowing comprised of Term Loans.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Term Commitment</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to each Lender, the commitment, if any, of such Lender to make a Term Loan on the Drawdown Date, expressed as an amount representing the maximum principal amount of the Term Loan to be made by such Lender, as such commitment may be (a) reduced from time to time pursuant to Section&#160;2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section&#160;9.04.  The initial amount of each Lender&#8217;s Term Commitment is set forth on Schedule&#160;2.01, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Term Commitment, as applicable.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Term Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Lender with a Term Commitment or an outstanding Term Loan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Term Loan</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Loan made pursuant to clause (a) of Section&#160;2.01</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Total Assets</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to GrafTech and the Subsidiaries on a consolidated basis at any date of determination, all assets which would, in accordance with GAAP, be classified on a consolidated balance sheet of GrafTech and the Subsidiaries as assets at such date of determination.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Total Debt</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to GrafTech and the Subsidiaries on a consolidated basis at any time, without duplication, all Capital Lease Obligations, Indebtedness in respect of the deferred purchase price of property or services and Indebtedness for borrowed money (including matured or contingent reimbursement obligations in respect of Letters of Credit that support an obligation that constitutes any such Indebtedness) of GrafTech and the Subsidiaries at such time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Transactions</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section&#160;3.02.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Type</font><font style="font-family:inherit;font-size:12pt;">&#8221;, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Base Rate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Unrestricted Cash</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean cash and Permitted Investments owned by the Loan Parties and not controlled by or subject to any Lien or other preferential arrangement in favor of any creditor (other than Liens created under the Loan Documents).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Unrestricted Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean (a) any subsidiary of GrafTech (other than Seadrift, GrafTech USA, Holdings, Luxembourg Parent, a Borrower or any of their subsidiaries) and any other direct or indirect Investment by GrafTech or any such Subsidiary in the Capital Stock of any other person (other than Seadrift, GrafTech USA, Holdings, Luxembourg Parent, a Borrower or any other Subsidiary) so long as (i)&#160;none of </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">44</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the Capital Stock or other ownership interests of such subsidiary or other person is owned by Seadrift, GrafTech USA, Holdings, Luxembourg Parent, a Borrower or any of their subsidiaries, (ii)&#160;GrafTech shall have notified the Administrative Agent of its acquisition or creation of such subsidiary or such other Investment and its ownership interest therein concurrently with such acquisition, creation or Investment and the intended purposes of such subsidiary or Investment, (iii)&#160;if any such subsidiary shall be part of a consolidated, combined or unitary tax return together with GrafTech, Seadrift, GrafTech USA, Holdings, Luxembourg Parent, a Borrower or any of the Subsidiaries, such subsidiary (unless it is a CFC) shall have entered into the Tax Sharing Agreement existing at the time of such acquisition or creation (or another tax sharing agreement containing terms which, in the reasonable judgment of the Administrative Agent, are customary in similar circumstances to provide an appropriate allocation of tax liabilities and benefits), (iv)&#160;except in the case of GrafTech as permitted in the proviso below, none of GrafTech, Luxembourg Parent, the Borrowers and the other Subsidiaries shall have any contingent liability in respect of such subsidiary or Investment or any obligations thereof and (v)&#160;any such subsidiary or Investment shall be capitalized solely from the following sources:  (A)&#160;any Investment by any person other than GrafTech, Luxembourg Parent, the Borrowers and the other Subsidiaries; (B)&#160;Indebtedness issued by such subsidiary or person, or any of its subsidiaries, (other than Indebtedness to GrafTech, Luxembourg Parent, a Borrower or any other Subsidiary) that is nonrecourse to GrafTech, Luxembourg Parent, the Borrowers and the other Subsidiaries (except in the case of GrafTech as otherwise permitted by the proviso below), or proceeds thereof; (C)&#160;Capital Stock of such subsidiary or person, or any other Unrestricted Subsidiary, or proceeds thereof, other than Capital Stock sold to GrafTech, Luxembourg Parent, a Borrower or any other Subsidiary; and (D)&#160;proceeds of Investments permitted to be made in Unrestricted Subsidiaries pursuant to Section&#160;6.04; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that GrafTech may incur a contingent liability or Indebtedness in a specified and limited amount in respect of such a subsidiary or Investment if it would at the time of such incurrence be permitted to make an additional Investment in such subsidiary or other applicable person in the amount of such incurrence and the amount so incurred shall thereafter constitute an Investment in such subsidiary or other person in such amount for purposes of calculating compliance with Section&#160;6.04; and (b)&#160;any subsidiary of an Unrestricted Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Upstream and Cross-Stream Obligations</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, as to any CFC Guarantor, Obligations of such CFC Guarantor securing and/or guaranteeing  Obligations of Foreign Subsidiaries that are direct or indirect parent companies of such CFC Guarantor or their direct or indirect subsidiaries (except for such CFC Guarantor itself and its direct and indirect subsidiaries). </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">USD Swingline Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Swingline Loan to Luxembourg Holdco denominated in Dollars for any day, the rate at which Dollar deposits with interest periods of one day are offered by the principal London office of the Administrative Agent in immediately available funds in the London interbank market at the time the Administrative Agent determines such rate on such day.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">45</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">US Dollar Equivalent</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, on any date of determination, (a)&#160;with respect to any amount in Dollars, such amount, and (b)&#160;with respect to any amount in Euros or any other currency, the equivalent in Dollars of such amount, determined by the Administrative Agent pursuant to Section&#160;1.05 using the Exchange Rate with respect to such currency specified in such Section.</font></div><div style="line-height:120%;padding-bottom:14px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">U.S.&#160;Person</font><font style="font-family:inherit;font-size:12pt;">&#8221; means a &#8220;United&#160;States person&#8221; within the meaning of Section&#160;7701(a)(30) of the Code.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">U.S. Tax Compliance Certificate</font><font style="font-family:inherit;font-size:12pt;">&#8221; has the meaning assigned to such term in Section&#160;2.17(f)(ii)(A)(3).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">USA Patriot Act</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">VAT</font><font style="font-family:inherit;font-size:12pt;">&#8221; means (a) Taxes imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112) and (b) any other tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, such Taxes referred to in clause (a) above, or imposed elsewhere.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">VAT Subject Party</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 2.17(i).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">VAT Supplier</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 2.17(i).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">VAT Recipient</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall have the meaning given such term in Section 2.17(i).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Wholly Owned Subsidiary</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean a Subsidiary at least 99% of the Capital Stock of which (other than directors&#8217; qualifying shares) is owned by GrafTech or another Wholly Owned Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Withdrawal Liability</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part&#160;I of Subtitle&#160;E of Title&#160;IV of ERISA.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Classification of Loans and Borrowings.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a &#8220;Revolving Loan&#8221;) or by Type (e.g., a &#8220;Eurocurrency Loan&#8221;) or by Class and Type (e.g., a &#8220;Eurocurrency Revolving Loan&#8221;).  Borrowings also may be classified and referred to by Class (e.g., a &#8220;Revolving Borrowing&#8221;) or by Type (e.g., a &#8220;Eurocurrency Borrowing&#8221;) or by Class and Type (e.g., a &#8220;Eurocurrency Revolving Borrowing&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.03.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Terms Generally.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine, feminine </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and neuter forms.  The words &#8220;include&#8221;, &#8220;includes&#8221; and &#8220;including&#8221; shall be deemed to be followed by the phrase &#8220;without limitation&#8221;.  The word &#8220;will&#8221; shall be construed to have the same meaning and effect as the word &#8220;shall&#8221;.  Unless the context requires otherwise (a)&#160;any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such amendments, restatements, supplements or modifications set forth herein), (b)&#160;any reference herein to any person shall be construed to include such person&#8217;s successors and assigns, (c)&#160;the words &#8220;herein&#8221;, &#8220;hereof&#8221; and &#8220;hereunder&#8221; and words of similar import shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d)&#160;all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, and (e)&#160;the words &#8220;asset&#8221; and &#8220;property&#8221; shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights.  References herein to the taking of any action hereunder of an administrative nature by a Borrower shall be deemed to include references to GrafTech or the other Borrower taking such action on such Borrower&#8217;s behalf and the Agents are expressly authorized to accept any such action taken by GrafTech or the other Borrower as having the same effect as if taken by such Borrower.  Each reference herein to &#8220;director&#8217;s qualifying shares&#8221; or similar terms shall be deemed to include a reference to &#8220;or other </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">de</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">minimis</font><font style="font-family:inherit;font-size:12pt;">&#32;amounts of equity required under applicable local law to be owned by local persons&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.04.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Accounting Terms; GAAP.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.(i)  Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP as in effect from time to time; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that if a Borrower notifies the Administrative Agent that such Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Restatement Effective Date in GAAP or in the application thereof on the operation of such provision, including any change to IFRS as contemplated by paragraph (ii) below (or if the Administrative Agent notifies the Borrowers that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)  GrafTech may use IFRS for financial reporting purposes, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that GrafTech shall give the Administrative Agent not less than 60 days&#8217; (or such shorter period of time as the Administrative Agent shall agree in its sole discretion) prior written notice of any change in the accounting principles used for financial reporting by GrafTech accompanied by a certificate of a Financial Officer of GrafTech (i) specifying the material effects of such change in accounting principles on GrafTech&#8217;s most recent audited financial statements and </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">47</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii) setting forth reasonably detailed calculations of the effect of such change in accounting principles as of the last day of the fiscal period covered by such financial statements on (A) the Interest Coverage Ratio, (B) the Leverage Ratio and (C) the GrafTech Senior Secured Leverage Ratio.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:105px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All pro forma computations required to be made hereunder giving effect to any acquisition, Investment, sale, disposition, merger or similar event shall reflect on a pro forma basis such event as if consummated on the first day of the period for which the applicable computation is being made and, to the extent applicable, the historical earnings and cash flows associated with the assets acquired or disposed of and any related incurrence or reduction of Indebtedness, but shall not take into account any projected synergies or similar benefits expected to be realized as a result of such event.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:105px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Except as expressly provided herein, all accounting and financial calculations and determinations hereunder shall be made without consolidating the accounts of Unrestricted Subsidiaries with those of GrafTech, the Borrowers or any other Subsidiary, notwithstanding that such treatment is inconsistent with GAAP.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:105px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">For purposes of any determination under Section 6.01, 6.02 or 6.03 or under paragraph (f), (g) or (k) of Article VII, all amounts incurred, outstanding or proposed to be incurred or outstanding in currencies other than Dollars shall be translated into Dollars at the currency exchange rates in effect on the date of such determination.  No Default or Event of Default shall arise as a result of (i) any limitation set forth in Dollars in Section 6.01, 6.02 or 6.03 being exceeded solely as a result of changes in currency exchange rates from those rates applicable at the time or times Indebtedness, Liens or Sale and Lease-Back Transactions were initially consummated in reliance on the exceptions under such Sections or (ii) any limitation set forth in Dollars in Section 6.04, 6.05 or 6.06 being exceeded solely as a result of changes in currency exchange rates from those rates applicable at the time or times a binding contract was entered into in respect of an Investment, disposition, payment or other transaction under such Sections in reliance on the exceptions under such Sections.  For purposes of any determination under Section 6.04, 6.05 or 6.06, the amount of each Investment, disposition, payment or other transaction denominated in a currency other than Dollars shall be translated into Dollars at the currency exchange rate in effect on the date such Investment, disposition, payment or other transaction is consummated.  Such currency exchange rates shall be determined in good faith by the Borrowers. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.05.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exchange Rates.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Except as provided in the last two sentences of this paragraph: </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:70px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Administrative Agent shall determine the US Dollar Equivalent of any Borrowing denominated in Euros, other than a Swingline Loan denominated in Euros, as of the date of the commencement of the initial Interest Period therefor and as of the date of the commencement of each subsequent Interest Period therefor, in each case using the Exchange Rate for Euros in relation to Dollars in effect on the date that is two Business Days prior to the date </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">48</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">on which the applicable Interest Period shall commence, and each such amount shall be the US Dollar Equivalent of such Borrowing until the next required calculation thereof pursuant to this sentence;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:70px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Administrative Agent shall determine the US Dollar Equivalent of any Letter of Credit denominated in a currency other than Dollars as of the date such Letter of Credit is issued, amended to increase its face amount, extended or renewed and as of the last Business Day of each subsequent calendar quarter, in each case using the Exchange Rate for such currency in relation to Dollars in effect on the date that is two Business Days prior to the date on which such Letter of Credit is issued, amended to increase its face amount, extended or renewed or as of the last Business Day of such subsequent calendar quarter, as the case may be, and each such amount shall, except as provided in the last sentence of this Section, be the US Dollar Equivalent of such Letter of Credit until the next required calculation thereof pursuant to this sentence; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:70px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Administrative Agent shall determine the US Dollar Equivalent of any Swingline Loan denominated in Euros as of the date on which such Loan is made, using the Exchange Rate for Euros in relation to US Dollars in effect on such date.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing, for purposes of any determination under Article V, Article VI (other than any determination of whether the Availability Condition is satisfied or any determination under Section 6.10 or 6.11) or Article VII, or any determination under any other provision of this Agreement expressly requiring the use of a current exchange rate, all amounts in currencies other than Dollars shall be translated into Dollars at currency exchange rates in effect on the date of such determination.  For purposes of Sections 6.10 and 6.11, amounts in currencies other than Dollars shall be translated into Dollars at the currency exchange rates most recently used in preparing GrafTech&#8217;s annual and quarterly financial statements.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.06.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Status of Obligations.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.The Loans and other Obligations are hereby designated as &#8220;Senior Debt&#8221; and as &#8220;Designated Senior Debt&#8221; under, and for purposes of, the Senior Subordinated Notes.  In the event that GrafTech, a Borrower or any other Loan Party shall at any time issue or have outstanding any other subordinated Indebtedness, GrafTech and such Borrower shall take or cause such other Loan Party to take all such actions as shall be necessary to cause the Obligations to constitute senior indebtedness (however denominated) in respect of such subordinated Indebtedness and to enable the Lenders to have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such subordinated Indebtedness.  Without limiting the foregoing, the Obligations are hereby designated as &#8220;senior indebtedness&#8221; and as &#8220;designated senior indebtedness&#8221; under and in respect of any indenture or other agreement or instrument under which such other subordinated Indebtedness is outstanding and are further given all such other designations as shall be required under </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">49</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the terms of any such subordinated Indebtedness in order that the Lenders may have and exercise any payment blockage or other remedies available or potentially available to holders of senior indebtedness under the terms of such subordinated Indebtedness.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:center;"><font style="padding-bottom:16px;text-align:center;font-family:inherit;font-size:11pt;padding-right:0px;">ARTICLE II</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>The Credits</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Commitments.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Subject to the terms and conditions set forth herein, (a) each Term Lender agrees to make a Term Loan to Finance on the Drawdown Date in a principal amount not exceeding its Term Commitment and (b) each Revolving Lender agrees to make Revolving Loans to each Borrower from time to time during the Revolving Availability Period in Euros or Dollars in an aggregate principal amount that will not result in such Lender&#8217;s Revolving Exposure exceeding its Available Commitment; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that Swissco shall not be entitled to borrow under this Agreement (but as to Swissco&#8217;s outstanding Revolving Loans, if any, Swissco shall continue to be, and to have all the obligations of, a Borrower hereunder).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loans and Borrowings.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Each Loan shall be made as part of a Borrowing consisting of Loans of the same Class and Type made by the Lenders ratably in accordance with their respective Commitments of the applicable Class.  The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender&#8217;s failure to make Loans as required hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Subject to Section&#160;2.14, each Revolving Borrowing denominated in Dollars shall be comprised entirely of Base Rate Loans (in the case of Revolving Borrowings by Finance only) or Eurocurrency Loans and each Revolving Borrowing denominated in Euros shall be comprised entirely of Eurocurrency Loans, as the applicable Borrower may request in accordance herewith.  Each Term Borrowing shall be denominated in Dollars and shall be comprised entirely of Base Rate Loans or Eurocurrency Loans, as Finance may request in accordance herewith.  Each Swingline Loan denominated in Dollars shall be (i) in the case of a Swingline Loan to Finance, a Base Rate Loan or (ii) in the case of a Swingline Loan to Luxembourg Holdco, a USD Swingline Rate Loan.  Each Swingline Loan denominated in Euros shall be a Euro Swingline Rate Loan.  Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that&#160;any exercise of such option shall not affect the obligation of the applicable Borrower to repay such Loan in accordance with the terms of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">At the commencement of each Interest Period for any Borrowing, such Borrowing shall be in an aggregate amount that is at least equal to the Borrowing Minimum and an integral multiple of the Borrowing Multiple; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that a Revolving Borrowing may be in an aggregate amount that is equal to the aggregate Available Commitments.  Each Swingline Loan shall be in an amount that is at least </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">equal to the Borrowing Minimum for Swingline Loans and an integral multiple of the Borrowing Multiple for Swingline Loans.  Borrowings of more than one Type and Class may be outstanding at the same time; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that there shall not at any time be more than a total of 10 Eurocurrency Borrowings outstanding.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.03.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Requests for Borrowings.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;To request a Revolving Borrowing or Term Borrowing, a Borrower shall notify the Administrative Agent at the Applicable Office of such request by telephone (a)&#160;in the case of a Eurocurrency Borrowing, not later than 12:00 noon, Local Time,&#160;three&#160;Business Days before the date of the proposed Borrowing and (b)&#160;in the case of a Base Rate Borrowing, not later than 12:00&#160;noon, New&#160;York time, one Business Day before the date of the proposed Borrowing.  Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent at the Applicable Office of a written Borrowing Request signed by the applicable Borrower.  Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section&#160;2.02:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">whether the requested Borrowing is to be a Term Borrowing or a Revolving Borrowing or a Borrowing of another Class;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the currency and aggregate principal amount of the requested Borrowing;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the date of the requested Borrowing, which shall be a Business Day;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(iv)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">whether the requested Borrowing is to be a Eurocurrency Borrowing or a Base Rate Borrowing;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(v)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">in the case of a Eurocurrency Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term &#8220;Interest Period&#8221;; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(vi)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Borrower of such Borrowing and the location and number of such Borrower&#8217;s account to which funds are to be disbursed, which shall comply with the requirements of Section&#160;2.06.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">If no currency is specified with respect to any requested Revolving Borrowing, then the applicable Borrower shall be deemed to have selected Dollars.  If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be (i)&#160;in the case of a Borrowing denominated in Euros, a Eurocurrency Borrowing, and (ii)&#160;in the case of a Borrowing denominated in Dollars, a Base Rate Borrowing.  If no Interest Period is specified with respect to any requested Eurocurrency Borrowing, then the applicable Borrower shall be deemed to have selected an Interest Period of one month&#8217;s duration.  Promptly following receipt of a  Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender that will make a Loan as part of the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">51</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">requested Borrowing of the details thereof and of the amount of the Loan to be made by such Lender as part of the requested Borrowing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.04.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Evidence of Debt.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall maintain accounts in which it shall record (i)&#160;the amount of each Loan made hereunder, the Class, Type and currency thereof and, in the case of any Eurocurrency Loan, the Interest Period applicable thereto, (ii)&#160;the amount of any principal or interest due and payable or to become due and payable from each Borrower to each Lender hereunder and (iii)&#160;the amount of any sum received by the Administrative Agent hereunder for the accounts of the Lenders and each Lender&#8217;s share thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The entries made in the accounts maintained pursuant to paragraph&#160;(a) or&#160;(b) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Loans in accordance with the terms of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Any Lender may request that Loans of any Class made by it be evidenced by a promissory note in substantially the form of Exhibit I-1 hereto or Exhibit I-2 hereto, as applicable.  In such event, each Borrower, at its own expense, shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form consistent with this Agreement and reasonably approved by the Administrative Agent.  Thereafter, the Loans evidenced by each such promissory note and interest thereon shall at all times (including after assignment pursuant to Section&#160;9.04) be represented by one or more promissory notes in such form payable to the payee named therein (or to such payee and its registered assigns).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.05.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Letters of Credit.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">General.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Subject to the terms and conditions set forth herein, any LC Subsidiary may request any Issuing Bank to issue (or to amend, renew or extend) Letters of Credit denominated in Dollars or in any Alternative Currency in a form reasonably acceptable to the Administrative Agent and such Issuing Bank, at any time and from time to time during the Revolving Availability Period.  In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by any LC Subsidiary to, or entered into by any LC Subsidiary with, an Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control.  Each reference herein to the &#8220;applicable Borrower&#8221; in respect of any Letter of Credit (or in respect of the LC Subsidiary that shall </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">have requested such Letter of Credit) shall mean (i) in the case of any Letter of Credit issued at the request of an LC Subsidiary that is not a CFC, Finance, (ii) in the case of any Letter of Credit issued at the request of Swissco, Swissco and (iii) in the case of any Letter of Credit issued at the request of any LC Subsidiary other than Swissco that is a CFC, Luxembourg Holdco.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), an LC Subsidiary shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) to the applicable Issuing Bank and the Administrative Agent, at the Applicable Office, reasonably in advance of the requested date of issuance, amendment, renewal or extension, a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph&#160;(c) of this Section), the amount and currency of such Letter of Credit (which shall be Dollars or an Alternative Currency), the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit.  If requested by the Issuing Bank, the applicable LC Subsidiary also shall submit a letter of credit application on such Issuing Bank&#8217;s standard form in connection with any request for a Letter of Credit.  A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the applicable LC Subsidiary shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i)&#160;the LC Exposure shall not exceed $50,000,000, (ii) the portion of the LC Exposure attributable to Letters of Credit issued by the applicable Issuing Bank shall not exceed the LC Commitment of such Issuing Bank, (iii) the Aggregate Revolving Exposures shall not exceed the aggregate Available Commitments and (iv) no Revolving Lender&#8217;s Revolving Exposure shall exceed its Available Commitment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Expiration Date.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i)&#160;the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and (ii)&#160;the date that is five Business Days prior to the Revolving Maturity Date in effect at the time of the issuance, renewal or extension of such Letter of Credit.  Any Letter of Credit may provide by its terms that it may be extended for additional successive one-year periods on terms reasonably acceptable to the applicable Issuing Bank.  Any Letter of Credit providing for automatic extension shall be extended upon the then current expiration date without any further action by any person unless the  applicable Issuing Bank shall have given notice to the applicable beneficiary (with a copy to the applicable Borrower) of the election by such Issuing Bank not to extend such Letter of Credit, such notice to be given not fewer than 60 days prior to the then current expiration date of such Letter of Credit; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that no Letter of </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Credit may be extended automatically or otherwise beyond the date that is five Business Days prior to the Revolving Maturity Date in effect at the time of such extension.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Participations.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Lenders, the applicable Issuing Bank hereby grants to each Revolving Lender, and each Revolving Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Lender&#8217;s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit.  In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent in Dollars, at the Applicable Office, for the account of such Issuing Bank, such Lender&#8217;s Applicable Percentage of (1)(i) each LC Disbursement made by such Issuing Bank in Dollars and (ii) the US Dollar Equivalent, using the Exchange Rates in effect on the date such payment is required, of each LC Disbursement made by such Issuing Bank in an Alternative Currency, and, in each case, not reimbursed by the applicable LC Subsidiary on the date due as provided in paragraph&#160;(e) of this Section, or (2) any reimbursement payment required to be refunded to the applicable LC Subsidiary for any reason (or, if such reimbursement payment was refunded in an Alternative Currency, the US Dollar Equivalent thereof using the Exchange Rates on the date of such refund).  Each Revolving Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.  Notwithstanding any other provision of this Section 2.05, if any Revolving Lender shall advise the Administrative Agent that it is unable to extend credit to an LC Subsidiary (other than a Borrower) organized in a particular jurisdiction, then each participation acquired by it pursuant to this paragraph (d) in Letters of Credit issued for the account of such LC Subsidiary shall represent a claim solely against the applicable Borrower and the Guarantors, and not against such LC Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reimbursement.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;If an Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the applicable Borrower and the applicable LC Subsidiary jointly and severally agree to reimburse such LC Disbursement by paying to the Administrative Agent, at the Applicable Office, an amount equal to such LC Disbursement, in the currency in which such LC Disbursement shall have been made, not later than 12:00&#160;noon, New&#160;York time, on the date that such LC Disbursement is made, if the applicable LC Subsidiary shall have received notice of such LC Disbursement prior to 10:00&#160;a.m., New&#160;York time, on such date, or, if such notice has not been received by the applicable LC Subsidiary prior to such time on such date, then not later than 12:00&#160;noon, New&#160;York time, on (A)&#160;the Business Day that the applicable LC Subsidiary receives such notice, if such notice is received prior to 10:00&#160;a.m., New&#160;York time, on the day of receipt, or (B)&#160;the Business Day immediately following the day that the applicable LC </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">54</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Subsidiary receives such notice, if such notice is not received prior to such time on the day of receipt.  If the applicable Borrower or the applicable LC Subsidiary fails to make such payment when due, then (i) if such payment relates to an Alternative Currency Letter of Credit, automatically and with no further action required, the obligation of the applicable Borrower and the applicable LC Subsidiary to reimburse the applicable LC Disbursement shall be permanently converted into an obligation to reimburse the US Dollar Equivalent, calculated using the Exchange Rates on the date when such payment was due, of such LC Disbursement and (ii) in the case of each LC Disbursement, the Administrative Agent shall notify each Revolving Lender of the applicable LC Disbursement, the payment then due from the applicable LC Subsidiary in respect thereof and such Lender&#8217;s Applicable Percentage thereof.  Promptly following receipt of such notice, each Revolving Lender shall pay to the Administrative Agent in Dollars its Applicable Percentage of the payment then due from the applicable LC Subsidiary in the same manner as provided in Section&#160;2.06 with respect to Loans made by such Lender (and Section&#160;2.06 shall apply, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">mutatis</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">mutandis</font><font style="font-family:inherit;font-size:12pt;">, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the applicable Issuing Bank in Dollars the amounts so received by it from the Lenders.  Promptly following receipt by the Administrative Agent of any payment from the applicable Borrower or the applicable LC Subsidiary pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear.  Any payment made by a Lender pursuant to this paragraph to reimburse an Issuing Bank for any LC Disbursement shall not constitute a Loan and shall not relieve the applicable Borrower or the applicable LC Subsidiary of its obligation to reimburse such LC Disbursement.  If the reimbursement by the applicable Borrower or the applicable LC Subsidiary of, or obligation to reimburse, any amounts in any Alternative Currency would subject the Administrative Agent, any Issuing Bank or any Lender to any stamp duty, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">ad</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">valorem</font><font style="font-family:inherit;font-size:12pt;">&#32;charge or similar tax that would not be payable if such reimbursement were made or required to be made in Dollars, such Borrower or such LC Subsidiary shall, at its option, either (x)&#160;pay the amount of any such tax requested by the Administrative Agent, such Issuing Bank or such Lender or (y) reimburse each LC Disbursement made in such Alternative Currency in Dollars, in an amount equal to the US Dollar Equivalent, calculated using the applicable Exchange Rate on the date such LC Disbursement is made, of such LC Disbursement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Obligations Absolute.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The applicable Borrower&#8217;s or the applicable LC Subsidiary&#8217;s obligations to reimburse LC Disbursements as provided in paragraph&#160;(e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i)&#160;any lack of validity or enforceability of any Letter of Credit, this Agreement or any other Loan Document, or any term or provision herein or therein, (ii)&#160;any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii)&#160;payment by the applicable Issuing Bank under a Letter of </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, subject to the proviso in the next sentence, or (iv)&#160;any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a right of setoff against, the applicable Borrower&#8217;s or the applicable LC Subsidiary&#8217;s obligations hereunder.  None of the Administrative Agent, the Lenders or any Issuing Bank, or any of their Related Parties, shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of such Issuing Bank; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the foregoing shall not be construed to excuse an Issuing Bank from liability to any LC Subsidiary to the extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by each Borrower and each LC Subsidiary to the extent permitted by applicable law) suffered by a Borrower or any LC Subsidiary that are caused by such Issuing Bank&#8217;s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof.  The parties hereto expressly agree that, in the absence of gross negligence or wilful misconduct on the part of an Issuing Bank, such Issuing Bank shall be deemed to have exercised care in each such determination.  In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, an Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Disbursement Procedures.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit.  Each Issuing Bank shall promptly notify the Administrative Agent and the applicable LC Subsidiary by telephone (confirmed by telecopy) of such demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that any failure to give or delay in giving such notice shall not relieve the applicable LC Subsidiary of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interim Interest.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;If an Issuing Bank shall make any LC Disbursement, then, unless the applicable Borrower or the applicable LC Subsidiary shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">LC Disbursement is made to but excluding the date that the applicable Borrower or the applicable LC Subsidiary reimburses such LC Disbursement, at (i)&#160;in the case of any LC Disbursement denominated in Dollars, and at all times following the conversion to Dollars of an LC Disbursement made in an Alternative Currency pursuant to paragraph (e) or (m) of this Section, the rate per annum then applicable to Base Rate Revolving Loans and (ii)&#160;in the case of any LC Disbursement denominated in an Alternative Currency, at all times prior to its conversion to Dollars pursuant to paragraph (e) or (m) of this Section, a rate per annum reasonably determined by such Issuing Bank (which determination will be conclusive absent manifest error and it being agreed by the Administrative Agent and the Borrowers that no Issuing Bank shall be required to provide any calculations showing the determination of such rate) to represent its cost of funds plus the Applicable Rate used to determine interest applicable to Eurocurrency Revolving Loans; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that, at all times after the applicable Borrower or the applicable LC Subsidiary fails to reimburse such LC Disbursement when due pursuant to paragraph&#160;(e) of this Section, Section&#160;2.13(c) shall apply.  Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph&#160;(e) or (m) of this Section to reimburse such Issuing Bank shall be for the account of such Lender to the extent of such payment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cash Collateralization.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;If the Revolving Commitments shall be terminated (including as a result of any change in the Revolving Maturity Date in accordance with the definition of such term) or if any Event of Default shall occur and be continuing, on the Business Day that a Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposures representing greater than 50% of the total LC Exposure) demanding the deposit of LC Cash Collateral pursuant to this paragraph, each Borrower and the applicable LC Subsidiaries shall deposit in an account or accounts with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders, an amount in Dollars and in cash equal to the LC Exposure allocable to it as of such date plus any accrued and unpaid interest thereon; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (i) the portions of such amount attributable to undrawn Alternative Currency Letters of Credit or LC Disbursements in an Alternative Currency that the applicable Borrower is not late in reimbursing shall be deposited in the applicable Alternative Currencies in the actual amounts of such undrawn Letters of Credit and LC Disbursements and (ii) the obligation to deposit such LC Cash Collateral with respect to the LC Exposure shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to a Borrower described in clause&#160;(h) or (i) of Article&#160;VII and on the Revolving Maturity Date if the Revolving Maturity Date shall have changed in accordance with the definition of such term).  For the purposes of this paragraph, the Alternative Currency LC Exposure shall be calculated using the Exchange Rates on the date notice demanding cash collateralization is delivered to the Borrowers.  Such deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrowers and the LC Subsidiaries under this Agreement.  The </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">57</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over each such account.  Other than any interest earned on the investment of such deposits, which investments shall be made in Permitted Investments at the option and in the sole discretion of the Administrative Agent and at the risk and expense of the Borrowers and the LC Subsidiaries, such deposits shall not bear interest.  Interest or profits, if any, on such investments shall accumulate in such account.  Moneys in any such account shall be applied by the Administrative Agent to reimburse the Issuing Banks for LC Disbursements for which they have not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrowers and the LC Subsidiaries for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC Exposure representing greater than 50% of the total LC Exposure), be applied to satisfy other obligations of the Borrowers and the LC Subsidiaries under this Agreement.  If the Borrowers and the LC Subsidiaries are required to provide an amount of LC Cash Collateral hereunder as a result of the occurrence of an Event of Default, all amounts on deposit in such account or accounts (to the extent not applied as aforesaid) shall be returned to them within three Business Days after all Events of Default have been cured or waived.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Designation of LC Subsidiaries.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;GrafTech may designate any Subsidiary as an LC Subsidiary by delivery to the Administrative Agent of an LC Subsidiary Agreement executed by such Subsidiary and GrafTech; and such Subsidiary shall for all purposes of this Agreement be an LC Subsidiary and a party to this Agreement upon such delivery and the satisfaction of the conditions set forth in Section&#160;4.03 with respect to such Subsidiary until GrafTech shall have executed and delivered to the Administrative Agent an LC Subsidiary Termination with respect to such Subsidiary, whereupon such Subsidiary shall cease to be an LC Subsidiary and a party to this Agreement.  Notwithstanding the preceding sentence, no LC Subsidiary Termination will become effective as to any LC Subsidiary at a time when any Letter of Credit issued for the account of such LC Subsidiary or any LC Disbursement in respect of any such Letter of Credit shall be outstanding hereunder.  As soon as practicable upon receipt of an LC Subsidiary Agreement, the Administrative Agent shall send a copy thereof to each Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(j)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Replacement of Issuing Banks.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;An Issuing Bank may be replaced at any time by written agreement among the Borrowers, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank.  The Administrative Agent shall notify the Lenders of any such replacement of an Issuing Bank.  At the time any such replacement shall become effective, the Borrowers shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b).  From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued by it thereafter and (ii) references herein to the term &#8220;Issuing Bank&#8221; shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require.  After the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">58</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(k)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Issuing Bank Reports.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Unless otherwise agreed by the Administrative Agent, each Issuing Bank shall report in writing to the Administrative Agent (i)&#160;on or prior to each Business Day on which such Issuing Bank issues, amends, renews or extends any Letter of Credit, the date of such issuance, amendment, renewal or extension, and the currencies and face amounts of the Letters of Credit issued, amended, renewed or extended by it and outstanding after giving effect to such issuance, amendment, renewal or extension (and whether the amounts thereof shall have changed), it being understood that no Issuing Bank shall effect any issuance, renewal, extension or amendment resulting in an increase in the aggregate amount of the Letters of Credit issued by it without first obtaining written confirmation from the Administrative Agent that such increase is then permitted under this Agreement, (ii)&#160;on each Business Day on which such Issuing Bank makes any LC Disbursement, the date, currency and amount of such LC Disbursement, (iii)&#160;on any Business Day on which the applicable Borrower fails to reimburse an LC Disbursement required to be reimbursed to such Issuing Bank on such day, the date of such failure and the currency and amount of such LC Disbursement and (iv)&#160;on any other Business Day, such other information as the Administrative Agent shall reasonably request as to the Letters of Credit issued by such Issuing Bank.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(l)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Conversion</font><font style="font-family:inherit;font-size:12pt;">.  In the event that the Loans become immediately due and payable on any date pursuant to Article VII, all amounts (i) that a Borrower or any LC Subsidiary is at the time or becomes thereafter required to reimburse or otherwise pay to the Administrative Agent in respect of LC Disbursements made under any Alternative Currency Letter of Credit (other than amounts in respect of which such Borrower or such LC Subsidiary has deposited LC Cash Collateral, if such LC Cash Collateral was deposited in the applicable Alternative Currency), (ii) that the Revolving Lenders are at the time or become thereafter required to pay to the Administrative Agent (and the Administrative Agent is at the time or becomes thereafter required to distribute to the Issuing Bank) pursuant to paragraph (e) of this Section in respect of unreimbursed LC Disbursements made under any Alternative Currency Letter of Credit and (iii) of each Revolving Lender&#8217;s participation in any Alternative Currency Letter of Credit under which an LC Disbursement has been made shall, automatically and with no further action required, be converted into the US Dollar Equivalent, calculated using the Exchange Rates on such date (or in the case of any LC Disbursement made after such date, on the date such LC Disbursement is made), of such amounts.  On and after such conversion, all amounts accruing and owed to the Administrative Agent, the Issuing Bank or any Lender in respect of the obligations described in this paragraph shall accrue and be payable in Dollars at the rates otherwise applicable hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.06.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Funding of Borrowings.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">59</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">of immediately available funds in the applicable currency by&#160;12:00 noon, Local Time, to the account of the Administrative Agent at the Applicable Office most recently designated by it for such purpose for Loans of such Class and currency by notice to the applicable Lenders; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that Swingline Loans shall be made as provided in Section&#160;2.20.  The Administrative Agent will make such Loans available to the applicable Borrower by promptly crediting the amounts so received, in like funds, to an account of such Borrower maintained by the Administrative Agent (i)&#160;in London, in the case of Loans denominated in Euros, or (ii)&#160;in New York City, in the case of Loans denominated in Dollars; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that Revolving Loans made to finance the reimbursement of an LC Disbursement shall be remitted by the Administrative Agent to the applicable Issuing Bank.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Unless the Administrative Agent shall have received at the Applicable Office notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender&#8217;s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph&#160;(a) of this Section and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount.  In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the applicable Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to such Borrower to but excluding the date of payment to the Administrative Agent, at (i)&#160;in the case of such Lender, (x)&#160;the rate reasonably determined by the Applicable Agent to be the cost to it of funding such amount (in the case of a Borrowing in Euros) and (y)&#160;the Federal Funds Effective Rate (in the case of a Borrowing in Dollars) or (ii)&#160;in the case of such Borrower, the interest rate applicable to the subject Loan.  If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender&#8217;s Loan included in such Borrowing and the Administrative Agent shall return to such Borrower any amount (including interest) paid by such Borrower to the Administrative Agent pursuant to this paragraph.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.07.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Elections.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Each Revolving Borrowing and Term Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Borrowing, shall have an initial Interest Period as specified in such Borrowing Request.  Thereafter, the applicable Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Borrowing, may elect Interest Periods therefor, all as provided in this Section and on terms consistent with the other provisions of this Agreement.  The applicable Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.  This Section shall not apply to Swingline Loans, which may not be converted or continued.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">60</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">To make an election pursuant to this Section, the applicable Borrower shall notify the Administrative Agent at the Applicable Office of such election by telephone by the time that a Borrowing Request would be required under Section&#160;2.03 if such Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be made on the effective date of such election.  Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent at the Applicable Office of a written Interest Election Request in a form approved by the Administrative Agent and signed by the applicable Borrower.  Notwithstanding any contrary provision herein, this Section shall not be construed to permit a Borrower to (i)&#160;change the currency of any Borrowing, (ii)&#160;elect an Interest Period for Eurocurrency Loans that does not comply with Section&#160;2.02(d) or (iii)&#160;convert any Borrowing denominated in Euros to a Base Rate Borrowing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each telephonic and written Interest Election Request shall specify the following information in compliance with Section&#160;2.02:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if the resulting Borrowing is to be denominated in Dollars, whether such Borrowing is to be a Base Rate Borrowing or a Eurocurrency Borrowing; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(iv)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if the resulting Borrowing is to be a Eurocurrency Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term &#8220;Interest Period&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">If any such Interest Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the applicable Borrower shall be deemed to have selected an Interest Period of one month&#8217;s duration.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each applicable Lender holding a Loan to which such Interest Election Request relates of the details thereof and of such Lender&#8217;s portion of each resulting Borrowing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If a Borrower fails to deliver a timely Interest Election Request with respect to a Eurocurrency Borrowing prior to the end of the Interest Period </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">61</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">applicable thereto, then (i) in the case of a Borrowing denominated in Dollars, such Borrowing shall be converted to a Base Rate Borrowing as of the end of such Interest Period and (ii) in the case of a Borrowing denominated in Euros, such Borrowing shall become due and payable on the last day of such Interest Period.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.08.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Termination and Reduction of Commitments.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Unless previously terminated, the (i) the Term Commitments shall terminate at 5:00 p.m., New York City time, on the earliest to occur of (A) the Drawdown Date, (B) the Business Day prior to the Revolving Maturity Date and (C) October 31, 2015 and (ii) the Revolving Commitments shall terminate on the Revolving Maturity Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Borrowers may at any time terminate, or from time to time reduce, the Commitments of any Class; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (i) each reduction of the Commitments of any Class shall be in an amount that is an integral multiple that is a Borrowing Multiple and not less than the Borrowing Minimum and (ii) the Borrowers shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section&#160;2.11, (A) the Aggregate Revolving Exposures would exceed the aggregate Available Commitments or (B) the Revolving Exposure of any Lender would exceed its Available Commitment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Borrowers shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph&#160;(b) of this Section at least five Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof.  Promptly following receipt of any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof.  Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that a notice of termination of the Revolving Commitments delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.  Any termination or reduction of the Commitments of any Class shall be permanent.  Each reduction of the Commitments of any Class shall be made ratably among the applicable Lenders in accordance with their respective Commitments of such Class.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.09.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Repayment of Loans.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each Borrower hereby unconditionally promises to pay (i)&#160;to the Administrative Agent at the Applicable Office for the account of each Lender, the then unpaid principal amount of each Revolving Loan of such Lender on the Revolving Maturity Date, (ii) to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Term Loan of such Lender as provided in Section&#160;2.10 and (iii)&#160;to each Swingline Lender the then unpaid principal amount of each Swingline Loan made by such Swingline Lender on the earlier of the Revolving Maturity Date and the 10th day after such Swingline Loan is made; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that on each date that a Revolving Borrowing is made by a Borrower, such Borrower shall repay all Swingline Loans that are outstanding to it on the date such </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">62</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Revolving Borrowing is made.  The Borrowers will repay the principal amount of each Loan and the accrued interest thereon in the currency of such Loan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.10.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amortization of Term Loans.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Subject to adjustment pursuant to paragraph (c) of this Section, Finance shall repay to the Administrative Agent for the ratable accounts of the Term Lenders, on March 31, June 30, September 30 and December 31 in each year (or, if any such date shall not be a Business day, then on the next preceding Business Day), commencing at the end of the first fiscal quarter commencing on or after the Drawdown Date, and on the Revolving Maturity Date (each such date, an &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Installment Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), an amount equal to the aggregate amount set forth below for the period during which such Installment Date occurs divided by the number of Installment Dates in such period:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">(i) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">for the period commencing on the Second Restatement Effective Date and ending on (and including) the fourth Installment Date, 10% of the aggregate principal amount of the Term Loans outstanding on the Drawdown Date,</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">(ii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">for the period commencing on the day immediately following the fourth Installment Date and ending on (and including) the eighth Installment Date, 15% of the aggregate principal amount of the Term Loans outstanding on the Drawdown Date,</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">(iii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">for the period commencing on the day immediately following the eighth Installment Date and ending on (and including) the twelfth Installment Date, 20% of the aggregate principal amount of the Term Loans outstanding on the Drawdown Date, and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">(iv)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">for the period commencing on the day immediately following the twelfth Installment Date and ending on (and including) the Revolving Maturity Date, 55% of the aggregate principal amount of the Term Loans outstanding on the Drawdown Date.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">To the extent not previously paid, all Term Loans shall be due and payable on the Revolving Maturity Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Any prepayment of a Term Borrowing shall be applied to reduce the subsequent scheduled repayments of the Term Borrowings to be made pursuant to this Section&#160;as directed by Finance (and absent such direction, in direct order of the maturity thereof).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Prior to any repayment of any Term Borrowings of any Class under this Section, the Borrower shall select the Borrowing or Borrowings of the applicable Class to be repaid and shall notify the Administrative Agent by telephone (confirmed by hand delivery or facsimile) of such selection not later than 11:00 a.m., New York City time, three Business Days before the scheduled date of such repayment.  Each repayment of a Term </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">63</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Borrowing shall be applied ratably to the Loans included in the repaid Term Borrowing.  Repayments of Term Borrowings shall be accompanied by accrued interest on the amounts repaid.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.11.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Prepayment of Loans.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.The Borrowers shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (d) of this Section.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If, on any date, the Aggregate Revolving Exposures exceed the aggregate Available Commitments, the Borrowers shall, not later than the second Business Day following such date, prepay Revolving Loans or Swingline Loans in an amount sufficient to eliminate such excess (after giving effect to any other prepayment of Loans on or prior to the date of prepayment).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Prior to any prepayment of Borrowings hereunder, the applicable Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to paragraph&#160;(d) of this Section.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The applicable Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Borrowing, the applicable Swingline Lender) by telephone (confirmed by telecopy) of any prepayment under paragraph (i) of this Section (A) in the case of a prepayment of a Loan other than a Swingline Loan, at the Applicable Office not later than 11:00 a.m., Local Time, five Business Days before the date of prepayment and (B) in the case of a prepayment of a Swingline Loan, at the Applicable Office not later than 12:00 noon, Local Time, on the date of prepayment, and (ii) of any prepayment under paragraph (b) of this Section, at the Applicable Office as promptly as practicable after such Borrower becomes aware that such prepayment will be required.  Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that, if a notice of optional prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section&#160;2.08, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section&#160;2.08; and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:12pt;">, that a notice of prepayment of the Term Loans delivered by Finance may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by Finance (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.  Promptly following receipt of any such notice, the Administrative Agent shall advise the affected Lenders of the contents thereof.  Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section&#160;2.02, except as necessary to apply fully the required amount of a mandatory prepayment.  Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing.  Prepayments shall be accompanied by&#160;accrued interest on the amount prepaid.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">64</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.12.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Fees.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Finance agrees to pay to the Administrative Agent for the account of (i) each Term Lender a commitment fee, which shall accrue at the Applicable Rate on the daily unused amount of the Term Commitment of such Lender during the period from and including the Second Restatement Effective Date to but excluding the earlier of the Drawdown Date and the date on which such Term Commitment terminates and (ii) each Revolving Lender a commitment fee, which shall accrue at the Applicable Rate on the daily unused amount of the Revolving Commitment of such Lender during the period from and including the Second Restatement Effective Date to but excluding the date on which such Revolving Commitment terminates.  Accrued commitment fees in respect of any Commitment shall be payable in arrears (i) on the last day of March, June, September and December of each year commencing on the first such date to occur after the Second Restatement Effective Date, and (ii) on the date on which such Commitment terminates.  All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).  For purposes of computing commitment fees in respect of Revolving Commitments, the Revolving Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and LC Exposure of such Lender, but not by the Swingline Exposure of such Lender.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each Borrower agrees to pay (i) to the Administrative Agent for the account of each Revolving Lender a participation fee with respect to its participations in the Letters of Credit of such Borrower, which shall accrue at the Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving Loans on the daily amount of such Lender&#8217;s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Second Restatement Effective Date to but excluding the later of the date on which such Lender&#8217;s Commitment terminates and the date on which such Lender ceases to have any LC Exposure in respect of such Borrower, and (ii)&#160;to each Issuing Bank a fronting fee, which shall accrue at a rate separately agreed between such Issuing Bank and such Borrower on the average daily amount of the LC Exposure of such Borrower (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Second Restatement Effective Date to but excluding the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any LC Exposure, as well as such Issuing Bank&#8217;s standard fees (or other fees as agreed between such Issuing Bank and the Borrowers) with respect to the issuance, amendment, renewal or extension of any Letter of Credit of such Borrower or processing of drawings thereunder.  Participation fees and fronting fees accrued under this paragraph through and including the last day of March, June, September and December of each year shall be payable on the third Business Day following such last day, commencing on the first such date to occur after the Second Restatement Effective Date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that all such fees shall be payable on the later of the date of termination of the Revolving Commitments and the date on which there ceases to be any LC Exposure (and any such fees remaining unpaid after the Revolving Maturity Date or earlier termination of the Commitments shall be payable on demand).  Any other fees payable to an Issuing Bank pursuant to this paragraph shall be payable within 10 days after demand.  All </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">65</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">participation fees and fronting fees payable under this paragraph shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between such Borrower and the Administrative Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent (or to the applicable Issuing Bank, in the case of fees payable to it) for distribution, in the case of commitment fees and participation fees, to the Lenders entitled thereto.  Fees paid shall not be refundable under any circumstances (absent manifest error).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.13.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.The Loans comprising each Eurocurrency Revolving Borrowing denominated in Dollars and each Eurocurrency Term Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Loans comprising each Eurocurrency Revolving Borrowing denominated in Euro shall bear interest at the LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Loans comprising each Base Rate&#160;Borrowing (including each Swingline Loan denominated in Dollars made to Finance) shall bear interest at the Base Rate plus the Applicable Rate.  The Loans comprising each Swingline Loan denominated in Dollars made to Luxembourg Holdco shall bear interest at the USD Swingline Rate plus the Applicable Rate.  The Loans comprising each Swingline Loan denominated in Euros shall bear interest at the Euro Swingline Rate plus the Applicable Rate.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Notwithstanding Section 2.13(a), (b) or (c), if any principal of or interest on any Loan or any fee or other amount payable by a Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to (i)&#160;in the case of overdue principal of any Loan, 2% per annum plus the rate otherwise applicable to such Loan as provided in Section 2.13(a), (b) or (c) or (ii)&#160;in the case of any other amount, 2% per annum plus the rate applicable to Base Rate Revolving Loans as provided in Section 2.13(c).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the applicable Revolving Commitments; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (i)&#160;interest accrued pursuant to Section 2.13(d) above shall be payable on demand, (ii)&#160;in the event of any repayment or prepayment of any Loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">66</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and (iii)&#160;in the event of any conversion of any Loan, accrued interest on such Loan shall be payable on the effective date of such conversion.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All interest hereunder shall be computed on the basis of a year of 360&#160;days, except that interest computed by reference to the Base Rate at times when the Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366&#160;days in a leap year), and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).  The applicable Adjusted LIBO Rate, LIBO Rate or Base Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The rates of interest provided for in this Agreement are minimum interest rates.  When entering into this Agreement, the parties have assumed that the interest payable at the rates set out in this Section or in other Sections of this Agreement is not and will not become subject to the Swiss Withholding Tax.  Notwithstanding that the parties do not anticipate that any payment of interest will be subject to the Swiss Withholding Tax, they agree that, in the event that (i) the Swiss Withholding Tax should be imposed on interest payments by Swissco and (ii) Swissco is unable, by reason of the Swiss Withholding Tax Act, to comply with Section 2.17, the interest rate on such payments due by Swissco, including limitations therein, shall be increased in such a way that the amount of interest effectively paid to each Lender corresponds to an amount which (after making any deduction of the Non-Refundable Portion (as defined below) of the Swiss Withholding Tax) equals the payment which would have been due had no deduction of Swiss Withholding Tax been required.  For the purposes of this Section, &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Non-Refundable Portion</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean Swiss Withholding Tax at the standard rate (being, as at the Restatement Effective Date, 35%) unless a tax ruling issued by the Swiss Federal Tax Administration confirms that, in relation to a specific Lender based on an applicable double tax treaty, the Non-Refundable Portion is a specified lower rate in which case such lower rate shall be applied in relation to such Lender.  Swissco shall provide to the Administrative Agent the documents required by law or applicable double taxation treaties for the Lenders to claim a refund of any Swiss Withholding Tax so deducted.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Swissco shall not be required to pay any additional amount to a Lender pursuant to Section 2.13(g) if such Lender has breached (i) Section 2.17(k) or (ii) the requirements and limitations for Assignment and Assumption or a participation with respect to such Loan pursuant to Section 9.04.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.14.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Alternate Rate of Interest.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;If prior to the commencement of any Interest Period for a Eurocurrency Borrowing of any Class denominated in any currency:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate for such Interest Period; or</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Administrative Agent is advised by a Majority in Interest of the Lenders of such Class (based upon applicable outstanding commitments and, without duplication, loans) that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">then the Administrative Agent shall give notice thereof to the applicable Borrower and the Lenders of such Class by telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies such Borrower and the Lenders of such Class that the circumstances giving rise to such notice no longer exist, (i) any Borrowing Request for a Eurocurrency Revolving Borrowing denominated in such currency (A) if such currency is the Dollar, shall be deemed a request for a Base Rate Borrowing and (B) if such currency is the Euro, shall be ineffective, (ii) any Interest Election Request that requests the conversion of any Revolving Borrowing denominated in such currency to, or continuation of any Revolving Borrowing denominated in such currency as, a Eurocurrency Borrowing shall be ineffective, and (iii) any Eurocurrency Borrowing denominated in such currency that is requested to be continued shall bear interest at such rate or rates as the Administrative Agent and the Borrowers shall agree upon to reflect the cost to such Lenders of making or maintaining their Loans (or, in the absence of such agreement, shall be repaid on the last day of the then current Interest Period applicable thereto).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.15.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Increased Costs.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.If any Change in Law shall:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of or credit extended or participated in by any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or any Issuing Bank; or</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">subject any Lender or Issuing Bank to any Taxes on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto (other than Indemnified Taxes and Excluded Taxes); or</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">impose on any Lender or Issuing Bank or the London interbank market any other condition affecting this Agreement or any Eurocurrency Loan made by such Lender or any Letter of Credit or participation therein;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Loan (or of maintaining its obligation to make any Loan) or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or Issuing Bank hereunder (whether of principal, interest or otherwise), then the applicable Borrower will pay to such Lender or Issuing Bank, as the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">68</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank for such additional costs incurred or reduction suffered.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If any Lender or Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has had or would have the effect of reducing the rate of return on such Lender&#8217;s or Issuing Bank&#8217;s capital or on the capital of such Lender&#8217;s or Issuing Bank&#8217;s holding company, if any, as a consequence of this Agreement or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or Issuing Bank or such Lender&#8217;s or Issuing Bank&#8217;s holding company could have achieved but for such Change in Law (taking into consideration such Lender&#8217;s or Issuing Bank&#8217;s policies and the policies of such Lender&#8217;s or Issuing Bank&#8217;s holding company with respect to capital adequacy and liquidity), then from time to time the Borrowers will pay to such Lender or Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such Lender&#8217;s or Issuing Bank&#8217;s holding company for any such reduction suffered.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">A certificate of a Lender or Issuing Bank setting forth the amount or amounts necessary to compensate such Lender or Issuing Bank or its holding company, as the case may be, as specified in paragraph&#160;(a) or (b) of this Section shall be delivered to the Borrowers and shall be conclusive absent manifest error.  The Borrowers shall pay such Lender or Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10&#160;days after receipt thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of such Lender&#8217;s or Issuing Bank&#8217;s right to demand such compensation; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the Borrowers shall not be required to compensate a Lender or Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or Issuing Bank, as the case may be, notifies the Borrowers of the Change in Law giving rise to such increased costs or reductions and of such Lender&#8217;s or Issuing Bank&#8217;s intention to claim compensation therefor; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180&#8209;day period referred to above shall be extended to include the period of retroactive effect thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.16.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Break Funding Payments.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurocurrency Loan to a Loan of a different Type or Interest Period other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section&#160;2.11(d) and is revoked in accordance therewith) or (d) the assignment of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto as a </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">69</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">result of a request by the applicable Borrower pursuant to Section&#160;2.19, then, in any such event, such Borrower shall compensate each Lender for the loss, cost and expense attributable to such event.  In the case of a Eurocurrency Loan, such loss, cost or expense to any Lender shall be deemed to include an amount reasonably determined by such Lender to be the excess, if any, of (i) the amount of interest that would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate or LIBO Rate, as the case may be, that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest that would accrue on such principal amount for such period at the interest rate such Lender would bid were it to bid, at the commencement of such period, for deposits in the applicable currency of a comparable amount and period from other banks in the eurocurrency market.  A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Borrowers and shall be conclusive absent manifest error.  The Borrowers shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.17.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Taxes.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Any and all payments by or on account of any obligation of a Borrower or any LC Subsidiary hereunder or under any other Loan Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided, however, (1) that, with respect to Swiss Withholding Tax only, Swissco shall not be required to pay any additional amount to a Lender pursuant to this Section 2.17(a) if such Lender (A) has breached Section 2.17(k) or (B) has made an assignment without the consent of Swissco in breach of the requirements of clause (iv) of Section 9.04(b) or has sold a participation to a Non-Qualifying Bank without the consent of Swissco in breach of the requirements of clause (iv) of Section 9.04(e), and (2) that if a Borrower or any LC Subsidiary shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then (i)&#160;the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent, each Lender or each Issuing Bank (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) such Borrower or such LC Subsidiary shall make such deductions and (iii)&#160;such Borrower or such LC Subsidiary shall pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In addition, the Loan Parties shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Borrowers and each LC Subsidiary shall severally indemnify the Administrative Agent, each Lender and each Issuing Bank, within 15 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender or such Issuing Bank, as the case may be, on or with respect to any payment by or on account of any obligation of a Borrower or </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">any LC Subsidiary hereunder or under any other Loan Document (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto (except to the extent such penalties, interest and expenses result solely from the gross negligence or wilful misconduct of the Administrative Agent, such Lender or such Issuing Bank, as the case may be), whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the Administrative Agent, such Lender or such Issuing Bank, as applicable, shall reasonably cooperate with a Borrower and any LC&#160;Subsidiary, at such Borrower&#8217;s or such LC&#160;Subsidiary&#8217;s sole cost and expense, in good faith to recover any such Indemnified Taxes or Other Taxes that the Administrative Agent, such Lender or such Issuing Bank, as applicable, and such Borrower or such LC&#160;Subsidiary agree were incorrectly or illegally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to a Borrower or any LC Subsidiary by a Lender or an Issuing Bank, or by the Administrative Agent on its own behalf or on behalf of a Lender or an Issuing Bank, shall be conclusive absent manifest error.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a Borrower or any LC Subsidiary to a Governmental Authority, such Borrower or such LC Subsidiary shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Borrower or LC Subsidiary has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of any Borrower or LC Subsidiary to do so), (ii) any Taxes attributable to such Lender&#8217;s failure to comply with the provisions of Section 9.04(e) relating to the maintenance of a Participant Register and (iii) the full amount of any Excluded Taxes attributable to such Lender that are paid or payable by the Administrative Agent and the Loan Parties in connection with any Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or not such Excluded Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  The indemnity under this paragraph (e) shall be paid within 10 days after the Administrative Agent delivers to the applicable Lender a certificate stating the amount of Excluded Taxes so payable by the Administrative Agent.  Such certificate shall be conclusive of the amount so payable absent manifest error.  Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document against any amount due to the Administrative Agent under this paragraph (e).</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">71</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">(i) Any Foreign Lender (or with respect to any LC Subsidiary, any Lender organized outside the jurisdiction of organization of such LC Subsidiary) that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which a Borrower or any LC Subsidiary is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall, to the extent it may lawfully do so, deliver to such Borrower or the LC Subsidiary, as the case may be (with a copy to the Administrative Agent), at the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law and as reasonably requested by such Borrower or such LC Subsidiary as will permit such payments to be made without withholding or at a reduced rate; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that such Lender has received sufficient written notice from such Borrower or such LC Subsidiary advising it of the availability of such exemption or reduction and containing all applicable documentation.  So long as any Lender makes a reasonable and good faith effort timely to comply with any such requirement outside the U.S., such Lender shall continue to benefit from Section 2.17(a) and (c) with respect to any such Taxes pending the effectiveness of any such reduction or exemption for which it may apply.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:70px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Without limiting the generality of the foregoing, in the event that any Borrower is a U.S. Person,</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(A)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to such Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of such Borrower or the Administrative Agent), whichever of the following is applicable:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(1)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the &#8220;interest&#8221; article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the &#8220;business profits&#8221; or &#8220;other income&#8221; article of such tax treaty;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(2)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#32;executed originals of IRS Form W-8ECI;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(3)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit M-1 to the effect that such Foreign Lender is not a &#8220;bank&#8221; within the meaning of Section 881(c)(3)</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">72</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(A) of the Code, a &#8220;10 percent shareholder&#8221; of such Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a &#8220;controlled foreign corporation&#8221; described in Section 881(c)(3)(C) of the Code (a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">U.S. Tax Compliance Certificate</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and (y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(4)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#32;to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form of Exhibit M-2 or M-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit M-4 on behalf of each such direct and indirect partner;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(B)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to such Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of such Borrower or the Administrative Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law to permit such Borrower or the Administrative Agent to determine the withholding or deduction required to be made; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(C)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to such Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by such Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by such Borrower or the Administrative Agent as may be necessary for such Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender's obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this clause (C), &#8220;FATCA&#8221; shall </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">73</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">include any amendments made to FATCA after the Restatement Effective Date;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(D)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any Lender (including any Issuing Bank) that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the applicable Borrower and the Administrative Agent in writing of its legal inability to do so.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If the Administrative Agent, any Lender or any Issuing Bank, as the case may be, determines in its reasonable discretion that it is entitled to receive a refund, credit or other tax benefit in respect of Taxes with respect to which it has received additional amounts from a Borrower or any LC&#160;Subsidiary pursuant to paragraph&#160;(a) of this Section&#160;2.17 or as to which it has been indemnified by a Borrower or any LC&#160;Subsidiary pursuant to paragraph&#160;(b) or (c) of this Section&#160;2.17, the Administrative Agent, such Lender or such Issuing Bank, as applicable, shall notify such Borrower or such LC&#160;Subsidiary, as applicable, and shall, within 45&#160;days (or such shorter period of time as may be prescribed by applicable law for a timely application) after receipt of a request by such Borrower or such LC&#160;Subsidiary, apply for such refund, credit or other tax benefit at such Borrower&#8217;s or such LC&#160;Subsidiary&#8217;s expense.  The Administrative Agent, such Lender or such Issuing Bank, as applicable, shall in good faith prepare or amend any filings, returns or other documentation required to obtain such refund, credit or other tax benefit and such Borrower or LC Subsidiary, as applicable, shall not have the right to participate therein.  If the Administrative Agent, such Lender or such Issuing Bank, as applicable, receives a refund, credit or other tax benefit pursuant to this paragraph&#160;(g), the Administrative Agent, such Lender or such Issuing Bank, as applicable, shall promptly pay such amount to the applicable Borrower or LC&#160;Subsidiary, as applicable, together with any interest received thereon.  This Section shall not be construed to require the Administrative Agent, any Lender or any Issuing Bank to make available its tax returns (or any other information relating to its taxes which it deems confidential) to a Borrower or any LC Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All amounts set out, or expressed in a Loan Document to be payable by any Party to the Administrative Agent, any Lender or any Issuing Bank which (in whole or in part) constitute the consideration for a supply for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply, and accordingly, subject to Section 2.17(i), if VAT is or becomes chargeable on any supply made by the Administrative Agent, any Lender or any Issuing Bank to any Party under a Loan </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Document, that Party shall pay to the Administrative Agent, any Lender or any Issuing Bank (in addition to and at the same time as paying any other consideration for such supply), provided that the Administrative Agent, any such Lender or any such Issuing Bank has delivered an invoice complying with the applicable legal requirements to such Party, an amount equal to the amount of such VAT except where the reverse charge method applies and the Party is liable for the payment of such VAT to the relevant Governmental Authority.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If VAT is or becomes chargeable on any supply made by the Administrative Agent, any Lender or any Issuing Bank (each a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">VAT Supplier</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to any other of the Administrative Agent, any Lender or any Issuing Bank (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">VAT Recipient</font><font style="font-family:inherit;font-size:12pt;">&#8221;) under a Loan Document, and any Party other than the VAT Recipient (the 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Each person that shall become a Revolving Lender after the Restatement Effective Date confirms that as of the date such person becomes a Lender, and each person that shall at any time acquire a participation in any Revolving Commitment or in any Loan of Swissco shall be deemed to have confirmed as of the date such person acquires such participation (or, if earlier, the date on which such person acquired the participation in a Commitment that resulted in its acquisition of such participation in such Loan of Swissco upon the making thereof), it is (i)&#160;a Qualifying Bank or (ii)&#160;one single creditor for the purposes of the Swiss Ten Non-Bank Rule and the Swiss Twenty Non-Bank Rule.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(k)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">For purposes of determining withholding Taxes imposed under FATCA, from and after the Second Restatement Effective Date, the Loan Parties and the Administrative Agent shall treat (and the Lenders and Issuing Banks hereby authorize the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">75</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Administrative Agent to treat) the amendment and restatement of this Agreement as of the Second Restatement Effective Date as not qualifying as a &#8220;grandfathered obligation&#8221; within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.18.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Payments Generally; Pro Rata Treatment; Sharing of Setoffs.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Each Borrower and each LC Subsidiary shall make each payment required to be made by it hereunder or under any other Loan Document (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section&#160;2.15, 2.16 or 2.17, or otherwise) prior to 12:00 noon, Local Time, on the date when due, in immediately available funds, without set-off or counterclaim.  Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon.  All such payments shall be made to the Administrative Agent to such account as the Administrative Agent shall from time to time specify at its respective Applicable Offices; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that payments to be made directly to any Issuing Bank or Swingline Lender as expressly provided herein and payments pursuant to Sections&#160;2.15, 2.16, 2.17, 2.20 and 9.03 shall be made directly to the persons entitled thereto and payments pursuant to other Loan Documents shall be made to the persons specified therein.  The Administrative Agent shall distribute any such payments received by it for the account of any other person to the appropriate recipient promptly following receipt thereof.  If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension.  All payments hereunder of principal or interest or fees in respect of any Loan or LC Disbursement shall be made in the currency of such Loan or LC Disbursement; all other payments hereunder and under each other Loan Document shall be made in Dollars at the Exchange Rate in effect at such time of payment, if applicable.  Any payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If, at any time, insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on its </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Loans of any Class or participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans of such Class or participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in Loans of such Class or participations in LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of their respective Loans of such Class or participations in LC Disbursements and Swingline Loans and accrued interest thereon; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or participant, other than to GrafTech, a Borrower, any other Subsidiary or any Affiliate thereof (as to which the provisions of this paragraph shall apply).  Each of GrafTech, each Borrower and each LC Subsidiary consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against GrafTech, such Borrower or such LC Subsidiary rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of GrafTech, such Borrower or such LC Subsidiary in the amount of such participation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Unless the Administrative Agent shall have received notice from a Borrower or an LC Subsidiary prior to the date on which any payment is due to the Administrative Agent for the account of all or certain of the Lenders or the Issuing Banks hereunder that such Borrower or such LC Subsidiary will not make such payment, the Administrative Agent may assume that such Borrower or such LC Subsidiary has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable Lenders or Issuing Bank, as the case may be, the amount due.  In such event, if such Borrower or such LC Subsidiary has not in fact made such payment, then each of the applicable Lenders or the applicable Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at a rate reasonably determined by the Administrative Agent in accordance with banking industry practices on interbank compensation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If any Lender shall fail to make any payment required to be made by it to the Administrative Agent or another Lender under this Agreement, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by it for the account of such Lender to </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">77</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">satisfy such Lender&#8217;s obligations under this Agreement until all such unsatisfied obligations are fully paid.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.19.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Mitigation Obligations; Replacement of Lenders.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.If any Lender requests compensation under Section&#160;2.15, or if&#160;a Borrower or any LC Subsidiary is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section&#160;2.17, or any Lender shall have become an affected party and shall have given notice of an illegality pursuant to Section 9.22, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section&#160;2.15 or 2.17 or would avoid the illegality, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender.  Each Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If any Lender requests compensation under Section&#160;2.15, or if any Loan Party is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section&#160;2.17, or if any Lender shall have become an affected party and shall have given notice of an illegality pursuant to Section 9.22, or if any Lender defaults in its obligation to fund Loans hereunder or is a Defaulting Lender, or if any Lender has failed to consent to a proposed amendment or waiver that under Section&#160;9.02 requires the consent of all the Lenders (or all the affected Lenders or all the Lenders of the affected Class) and with respect to which the Required Lenders (or, in circumstances where Section&#160;9.02 does not require the consent of the Required Lenders, a majority in interest of the Lenders of the affected Class) shall have granted their consent, then the Borrowers may, at their sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section&#160;9.04), all its interests, rights and obligations under the Loan Documents to an assignee (other than any Ineligible Assignee) that shall assume such obligations (which assignee may be another Lender, if such other Lender accepts such assignment); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (i) the Borrowers shall have received the prior written consent of the Administrative Agent (and, if a Revolving Commitment is being assigned, each Issuing Bank and each Swingline Lender), which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee or the Borrowers, (iii)&#160;in the case of any such assignment resulting from a claim for compensation under Section&#160;2.15 or payments required to be made pursuant to Section&#160;2.17, such assignment will result in a material reduction in such compensation or payments and (iv) in the case of any such assignment and delegation resulting from the failure to provide a consent, the assignee shall have given such consent </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and, as a result of such assignment and delegation and any contemporaneous assignments and delegations and consents, the applicable amendment or waiver can be effected.  A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrowers to require such  assignment and delegation cease to apply.  Each party hereto agrees that an assignment and delegation required pursuant to this paragraph may be effected pursuant to an Assignment and Assumption executed by the Borrower, the Administrative Agent and the assignee and that the Lender required to make such assignment and delegation need not be a party thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.20.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swingline Loans.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Subject to the terms and conditions set forth herein, each Swingline Lender agrees to make Swingline Loans to each Borrower (other than Swissco) from time to time during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i)&#160;the aggregate principal amount of outstanding Swingline Loans exceeding $35,000,000, (ii)&#160;the aggregate principal amount of outstanding Swingline Loans of any Swingline Lender exceeding the Swingline Commitment of such Swingline Lender, (iii)  the Aggregate Revolving Exposures exceeding the aggregate Available Commitments or (iv) such Swingline Lender&#8217;s Revolving Credit Exposure exceeding its Available Commitment; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that no Swingline Lender shall be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers (other than Swissco) may borrow, prepay and reborrow Swingline Loans.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">To request a Swingline Borrowing, the applicable Borrower shall notify the Administrative Agent and the applicable Swingline Lender of such request by telephone (confirmed by telecopy), not later than, as applicable, noon New York City time, or 9:30 a.m., London time, on the day of the proposed Swingline Borrowing.  Each such notice shall be irrevocable and shall specify the requested date (which shall be a Business Day) and the amount and currency (which shall be Dollars or Euros) of the requested Swingline Borrowing.  The applicable Swingline Lender shall make the requested Swingline Loan available to such Borrower by means of a wire transfer to the account specified in such Borrowing Request or to the applicable Issuing Bank, as the case may be, by 3:00&#160;p.m., Local Time, on the requested date of such Swingline Loan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Any Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., New York time, on any Business Day require the Revolving Lenders to acquire participations on such Business Day in all or a portion of its outstanding Swingline Loans denominated in Dollars.  Any Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., London time, on any Business Day (each date on which such notice is given, a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Notice Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;) require the Revolving Lenders to acquire participations on the second Business Day after the Notice Date in all or a portion of its outstanding Swingline Loans denominated in Euros, and such Swingline Loans shall be continued on the second Business Day after the Notice Date as a Eurocurrency Borrowing having an Interest </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">79</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Period of one month&#8217;s duration; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that such Swingline Lender shall not give such notice to the Administrative Agent unless it shall have first given the Borrowers notice by 2:00 p.m., London time, on the Business Day immediately preceding the Notice Date of its intent to give such notice to the Administrative Agent and the Borrowers shall not have given such Swingline Lender notice by 9:00 a.m., London time, on the Notice Date that they agree to repay such Swingline Loans on or prior to the second Business Day after the Notice Date.  Each such notice shall specify the aggregate amount and currency of Swingline Loans in which Revolving Lenders will participate.  Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Revolving Lender, specifying in such notice such Lender&#8217;s Applicable Percentage of such Swingline Loan or Loans.  Each Revolving Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above, to pay to the Administrative Agent in the currency of each such Swingline Loan, for the account of such Swingline Lender, such Lender&#8217;s Applicable Percentage of each such Swingline Loan.  Each Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Revolving Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever.  Each Revolving Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section&#160;2.06 with respect to Loans made by such Lender (and Section&#160;2.06 shall apply, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">mutatis</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">mutandis</font><font style="font-family:inherit;font-size:12pt;">, to the payment obligations of the Revolving Lenders), and the Administrative Agent shall promptly pay to the applicable Swingline Lender the amounts so received by it from the Revolving Lenders.  The Administrative Agent shall notify the Borrowers of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender.  Any amounts received by the Swingline Lender from a Borrower (or other party on behalf of a Borrower) in respect of a Swingline Loan after receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear.  The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the applicable Borrower of any default in the payment thereof.  Notwithstanding the foregoing, a Revolving Lender shall not have any obligation to acquire a participation in a Swingline Loan pursuant to this paragraph if an Event of Default shall have occurred and be continuing at the time such Swingline Loan was made and such Lender shall have notified the applicable Swingline Lender in writing, at least one Business Day prior to the time such Swingline Loan was made, that such Event of Default has occurred and that such Lender will not acquire participations in Swingline Loans made while such Event of Default is continuing.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">80</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.21.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defaulting Lenders.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;(a)   Notwithstanding any provision of this Agreement to the contrary, if one or more Revolving Lenders become Defaulting Lenders, then, upon notice to such effect by the Administrative Agent (which notice shall be given promptly after the Administrative Agent becomes aware that any Revolving Lender shall have become a Defaulting Lender, including as a result of being advised thereof by an Issuing Bank, a Swingline Lender, GrafTech or a Borrower) (such notice being referred to as a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defaulting Lender Notice</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the following provisions shall apply for so long as any such Revolving Lender is a Defaulting Lender:</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i) no commitment fee shall accrue on any Revolving Commitment of any Defaulting Lender pursuant to Section 2.12(a);</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii) the Revolving Commitment and Revolving Exposure of each Defaulting Lender shall be disregarded in determining whether the Required Lenders or other requisite Lenders shall have taken any action hereunder or under any other Loan Document (including any consent to any waiver, amendment or other modification pursuant to Section 9.02); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that any waiver, amendment, or other modification that, disregarding the effect of this clause (ii), requires the consent of all Lenders or of all Lenders affected thereby shall continue to require the consent of each Defaulting Lender in accordance with the terms hereof;</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii) if any Swingline Loans are outstanding or any LC Exposure exists at the time any Lender becomes a Defaulting Lender (each such Swingline Loan being referred to as a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reallocated Swingline Loan</font><font style="font-family:inherit;font-size:12pt;">&#8221;, and each Letter of Credit to which such LC Exposure is attributable being referred to as a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reallocated Letter of Credit</font><font style="font-family:inherit;font-size:12pt;">&#8221;), then, so long as no Event of Default has occurred and is then continuing:</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(A)  subject to clause (C) below, the obligation of each Non-Defaulting Lender to purchase participations in each Reallocated Swingline Loan under Section 2.20(c) shall be adjusted to be determined on the basis of such Lender&#8217;s Adjusted Applicable Percentage (and all references in such Section to &#8220;Applicable Percentage&#8221; shall be deemed to be references to &#8220;Adjusted Applicable Percentage&#8221;);</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(B)  subject to clause (C) below, the participation of each Non-Defaulting Lender in each Reallocated Letter of Credit shall be adjusted to be determined under Section 2.05(d) on the basis of such Lender&#8217;s Adjusted Applicable Percentage (and all references in such Section to &#8220;Applicable Percentage&#8221; shall be deemed to be references to &#8220;Adjusted Applicable Percentage&#8221;);</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(C)  notwithstanding the foregoing:</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">81</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(1)  if any Lender that becomes a Defaulting Lender shall be a Swingline Lender or an Affiliate thereof, no adjustment shall be made pursuant to clause (A) above with respect to participations in Swingline Loans made by such Swingline Lender on account of such Lender becoming a Defaulting Lender;</font></div><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(2)  if any Revolving Lender that becomes a Defaulting Lender shall be an Issuing Bank or an Affiliate thereof, no adjustment shall be made pursuant to clause (B) above with respect to participations in any Letter of Credit issued by such Issuing Bank; and</font></div><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(3)  if the sum of (x) all the Defaulting Lenders&#8217; Applicable Percentages of the aggregate principal amount of the Reallocated Swingline Loans (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defaulting Lender Swingline Exposures</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and (y) all the Defaulting Lenders&#8217; Applicable Percentages of the LC Exposure attributable to the Reallocated Letters of Credit (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defaulting Lender LC Exposures</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with the Defaulting Lender Swingline Exposures, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Defaulting Lender LC/Swingline Exposures</font><font style="font-family:inherit;font-size:12pt;">&#8221;) exceeds the unused portion of the Aggregate Commitment of the Lenders other than the Defaulting Lenders as of the time the adjustments are to be made pursuant to clauses (A) and (B) above (such unused portion being referred to as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Maximum Incremental Participations Amount</font><font style="font-family:inherit;font-size:12pt;">&#8221;), then (I) the incremental amount of participations acquired by the Non-Defaulting Lenders under clause (A) above (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incremental Swingline Participations</font><font style="font-family:inherit;font-size:12pt;">&#8221;) shall not exceed at any time the Maximum Incremental Participations Amount multiplied by a fraction of which the numerator is the aggregate principal amount of the Reallocated Swingline Loans at such time and the denominator is the Defaulting Lender LC/Swingline Exposure at such time and (II) the incremental amount of participations acquired by the Non-Defaulting Lenders under clause (B) above (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incremental LC Participations</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with the Incremental Swingline Participations, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incremental LC/Swingline Participations</font><font style="font-family:inherit;font-size:12pt;">&#8221;) shall not exceed at any time the Maximum Incremental Participations Amount multiplied by a fraction of which the numerator is the LC Exposure attributable to the Reallocated Letters of Credit and the denominator is the Defaulting Lender LC/Swingline Exposure at such time;</font></div><div style="line-height:120%;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(D)  if the Incremental LC/Swingline Participations shall be less than the Defaulting Lender LC/Swingline Exposure as a result of the circumstances described in clause (C)(3) above, then the Borrowers shall, within one Business Day after receipt of written notice to that effect from </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">82</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the Administrative Agent, (1) first, prepay the Reallocated Swingline Loans and (2) second, cash collateralize the Reallocated Letters of Credit (in a manner and under documentation reasonably satisfactory to the Administrative Agent) in an aggregate amount equal to the excess, if any, of the Defaulting Lender LC/Swingline Exposure over the Incremental LC/Swingline Participations;</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(E)  if any Reallocated Letter of Credit shall have been cash collateralized by the Borrowers pursuant to clause (D) above, then the Borrowers shall not be required to pay any letter of credit participation fees to the Lenders that are Defaulting Lenders pursuant to Section 2.12(b) with respect to the portion of such Reallocated Letter of Credit that is so cash collateralized;</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(F)  if an adjustment shall have been made pursuant to clause (B) above to the participations of the Non-Defaulting Lenders in Reallocated Letters of Credit, then the letter of credit participation fees that would otherwise have been payable to the Revolving Lenders that are Defaulting Lenders pursuant to Section 2.12(b) with respect to the portion of such Reallocated Letters of Credit equal to the Incremental LC Participations therein shall instead accrue for the accounts of, and be payable to, the Revolving Lenders that are Non-Defaulting Lenders in accordance with their Adjusted Applicable Percentages;</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(G)  if the Defaulting Lender LC Exposure at any time shall exceed the sum of the Incremental LC Participations at such time and the portion of the Reallocated Letters of Credit cash collateralized at such time pursuant to clause (D) above, then, without prejudice to any rights or remedies of any Issuing Bank or any Non-Defaulting Lender hereunder, all letter of credit participation fees payable to the Lenders that are Defaulting Lenders under Section 2.12(b) with respect to the portion of the Defaulting Lender LC Exposure equal to such excess shall instead ratably accrue for the accounts of, and be payable to, the applicable Issuing Banks; and</font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:96px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(H)  the Revolving Exposure of each Non-Defaulting Lender shall be determined after giving effect to the Incremental LC/Swingline Participations acquired by such Lender under the foregoing clauses of this clause (iii);</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv) in the event any Swingline Loan shall be made, or any Letter of Credit shall be issued or amended to increase the amount thereof, (A) the participations of the Non-Defaulting Lenders therein shall be determined in the manner set forth in clause (iii)(A) or (iii)(B) above, as applicable, as if such Swingline Loan or Letter of Credit shall have been a Reallocated Swingline Loan or a Reallocated </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">83</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Letter of Credit, as the case may be, and (B) letter of credit participation fees that would otherwise have been payable to the Revolving Lenders that are Defaulting Lenders pursuant to Section 2.12(b) in respect of any such Letter of Credit shall be subject to clause (iii)(F) above; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that, notwithstanding anything to the contrary set forth herein, no Swingline Lender shall be required to make any Swingline Loan, and no Issuing Bank shall be required to issue, extend, renew or increase the amount of any Letter of Credit, in each case unless it is satisfied that the Defaulting Lenders&#8217; Applicable Percentage of such Swingline Loan or of the LC Exposure attributable to such Letter of Credit will be entirely covered by participations therein of the Non-Defaulting Lenders and/or, in the case of the LC Exposure, cash collateral provided by the Borrowers (in a manner and under documentation satisfactory to such Issuing Bank); and</font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)  any amount payable to or for the account of any Defaulting Lender in its capacity as a Revolving Lender hereunder (whether on account of principal, interest, fees or otherwise, and including any amounts payable to such Defaulting Lender pursuant to Section 2.12, but excluding any amounts payable to such Defaulting Lender pursuant to Sections 2.14, 2.15, 2.16, 2.18(b) and 9.04) shall, in lieu of being distributed to such Defaulting Lender, be retained by the Administrative Agent in a segregated account and, subject to any applicable requirements of law, (A) be applied, at such time or times as may be determined by the Administrative Agent, (1) first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder, (2) second, pro rata, to the payment of any amounts owing by such Defaulting Lender to the Swingline Lenders and the Issuing Banks in respect of such Defaulting Lender&#8217;s participations in Swingline Loans and Letters of Credit (and to the extent any such amounts shall have been paid by Non-Defaulting Lenders as a result of adjustments pursuant to clause (iii) above, to reimburse such Non-Defaulting Lenders for such amounts), (3) third, to cash collateralize participation obligations of such Defaulting Lender in respect of outstanding Swingline Loans and Letters of Credit and (4) fourth, to the funding of such Defaulting Lender&#8217;s Applicable Percentage of any Borrowing in respect of which such Defaulting Lender shall have failed to fund such share as required hereunder, (B) to the extent not applied as aforesaid, be held, if so determined by the Administrative Agent, as cash collateral for funding obligations of such Defaulting Lender in respect of future Revolving Loans hereunder, (C) to the extent not applied or held as aforesaid, be applied, pro rata, to the payment of any amounts owing to the Borrowers or the Non- Defaulting Lenders as a result of any final and nonappealable judgment of a court of competent jurisdiction obtained by a Borrower or any Non-Defaulting Lender against such Defaulting Lender as a result of such Defaulting Lender&#8217;s breach of its obligations hereunder, (D) to the extent not applied or held as aforesaid, be applied, pro rata, to the reimbursement to each Borrower of its costs of maintaining any cash collateral provided by such Borrower in accordance with this Section 2.21 (which cost shall be presumed to be equal to the average rate of interest expense paid by such Borrower hereunder during the applicable period in </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">84</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">respect of Loans denominated in the applicable currency, or if and to the extent such Loans are not outstanding during the applicable period, the average rate of one month LIBOR during such period for the applicable currency plus the Applicable Rate) and (E) to the extent not applied or held as aforesaid, be distributed to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)  In the event the Administrative Agent, each Swingline Lender that is not a Defaulting Lender, each Issuing Bank that is not a Defaulting Lender, GrafTech and the Borrowers shall have agreed that a Revolving Lender that is a Defaulting Lender has adequately remedied all matters that caused such Revolving Lender to become a Defaulting Lender, then (i) such Revolving Lender shall cease to be a Defaulting Lender for all purposes hereof, (ii) the obligations of the Revolving Lenders to purchase participations in Swingline Loans under Section 2.20(c) and the participations of the Revolving Lenders in Letters of Credit under Section 2.05(d) shall be readjusted to be determined on the basis of such Revolving Lenders&#8217; Applicable Percentages and (iii) such Revolving Lender shall purchase at par such of the Revolving Loans of the other Revolving Lenders as the Administrative Agent shall determine to be necessary in order for the Revolving Loans to be held by the Revolving Lenders in accordance with their Applicable Percentages.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)  No Commitment of any Lender shall be increased or otherwise affected and, except as otherwise expressly provided in this Section, performance by the Borrowers of their obligations hereunder and under the other Loan Documents shall not be excused or otherwise modified, as a result of the operation of this Section. The rights and remedies against a Defaulting Lender under this Section are in addition to other rights and remedies that the Borrowers, the Administrative Agent, the Swingline Lenders, the Issuing Banks or any Non-Defaulting Lender may have against such Defaulting Lender (and, for the avoidance of doubt, each Non-Defaulting Lender shall have a claim against any Defaulting Lender for any losses it may suffer as a result of the operation of this Section).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE III</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Representations and Warranties</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each of GrafTech and the Borrowers represents and warrants to each of the Lenders as of the Second Restatement Effective Date, that:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Organization; Powers.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each of GrafTech, each Borrower and each of the other Subsidiaries (a)&#160;is an entity duly organized, validly existing and in good standing (or, if applicable in a foreign jurisdiction, enjoys the equivalent status under the laws of any jurisdiction of organization outside the United&#160;States) under the laws of the jurisdiction of its organization, (b)&#160;has all requisite power and authority to own its property and assets and to carry on its business as now conducted and as proposed to be conducted, (c)&#160;is qualified to do business in every </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">85</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">jurisdiction where such qualification is required, except where the failure so to qualify could not reasonably be expected to result in a Material Adverse Effect, and (d)&#160;has the corporate power and authority to execute, deliver and perform its obligations under each of the Loan Documents and each other agreement or instrument contemplated thereby to which it is or will be a party and, in the case of the Borrowers and the LC Subsidiaries, to borrow and otherwise obtain credit hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Authorization</font><font style="font-family:inherit;font-size:12pt;">.  The execution, delivery and performance by GrafTech, each Borrower and each of the other Subsidiaries of each of the Loan Documents to which it is or will be a party (and, in the case of the Borrowers and the LC Subsidiaries, the borrowings and other extensions of credit hereunder and thereunder), the amendment and restatement of the Existing Credit Agreement in the form hereof, the satisfaction of the Collateral and Guarantee Requirement and the other transactions contemplated hereby and thereby (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Transactions</font><font style="font-family:inherit;font-size:12pt;">&#8221;) (a)&#160;have been duly authorized by all corporate and stockholder action required to be obtained by GrafTech, the Borrowers and the other Subsidiaries and (b)&#160;will not (i)&#160;violate (A)&#160;any provision of any law, statute, rule or regulation or of the certificate or articles of incorporation or by&#8209;laws or other constitutive documents of GrafTech, a Borrower or any other Subsidiary, (B)&#160;any applicable order of any court or any rule, regulation or order of any Governmental Authority or (C)&#160;any provision of any indenture, certificate of designation for preferred stock, agreement or other instrument to which GrafTech, a Borrower or any other Subsidiary is a party or by which any of them or any of their property is or may be bound, (ii)&#160;be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under any such indenture, certificate of designation for preferred stock, agreement or other instrument, where any such conflict, violation, breach or default referred to in clause (i) or (ii) of this Section&#160;3.02, individually or in the aggregate could reasonably be expected to have a Material Adverse Effect, or (iii)&#160;result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by GrafTech, a Borrower or any other Subsidiary, other than the Liens created by the Loan Documents.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.03.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Enforceability</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement has been duly executed and delivered by GrafTech, the Borrowers and each LC Subsidiary which is party hereto and constitutes, and each other Loan Document when executed and delivered by GrafTech, the Borrowers and each other Loan Party which is party thereto will constitute, a legal, valid and binding obligation of GrafTech, each Borrower and such Loan Party enforceable against GrafTech, each Borrower and such Loan Party in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors&#8217; rights generally and except as enforceability may be limited by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.04.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governmental Approvals</font><font style="font-family:inherit;font-size:12pt;">.  No action, consent or approval of, registration or filing with or any other action by any Governmental Authority </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">86</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">is or will be required in connection with the Transactions, except for (a)&#160;filings and recordings necessary to satisfy the Collateral and Guarantee Requirement, (b)&#160;such as have been made or obtained and are in full force and effect and (c) such actions, consents, registrations, filings and approvals the failure to obtain or make which could not reasonably be expected to result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.05.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Financial Statements</font><font style="font-family:inherit;font-size:12pt;">.  GrafTech has heretofore furnished to the Lenders its consolidated balance sheets and consolidated statements of operations, cash flows and stockholders&#8217; equity as of and for the fiscal year ended December&#160;31, 2013 audited by and accompanied by the opinion of PricewaterhouseCoopers LLP, independent public accountants.  Such financial statements present fairly the consolidated financial condition and results of operations of GrafTech and its subsidiaries as of such date and for such period.  Except as disclosed in the Lender Presentation, none of GrafTech, the Borrowers and the other Subsidiaries has or shall have as of the Second Restatement Effective Date any material Guarantee, contingent liability or liability for taxes, or any material long-term lease or unusual forward or long-term commitment, including any interest rate or foreign currency hedging transaction, which is not reflected in such financial statements or the notes thereto.  Such financial statements were prepared in accordance with GAAP applied on a consistent basis.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.06.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Material Adverse Change</font><font style="font-family:inherit;font-size:12pt;">.  There has been no material adverse change in the assets, liabilities (including contingent liabilities), business, properties, financial condition or results of operations of GrafTech and its subsidiaries, taken as a whole, since December&#160;31, 2013.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.07.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Title to Properties; Possession Under Leases</font><font style="font-family:inherit;font-size:12pt;">.  %3. Each of GrafTech, the Borrowers and the other Subsidiaries has good and marketable title to, or valid leasehold interests in, or easements or other limited property interests in, all its respective material properties and assets, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties and assets for their intended purposes.  All such material properties and assets are free and clear of Liens, other than Liens expressly permitted by Section&#160;6.02.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each of GrafTech, the Borrowers and the other Subsidiaries has complied with all obligations under all material leases to which it is a party, except where the failure to comply would not have a Material Adverse Effect, and all such leases are in full force and effect, except leases in respect of which the failure to be in full force and effect could not reasonably be expected to have a Material Adverse Effect.  Each of GrafTech, the Borrowers and the other Subsidiaries enjoys peaceful and undisturbed possession under all such material leases to which it is a party, other than leases which, individually or in the aggregate, are not material to GrafTech, the Borrowers and the Subsidiaries, taken as a whole, and in respect of which the failure to enjoy peaceful and undisturbed possession could not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">87</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each of GrafTech, the Borrowers and the other Subsidiaries owns or has licenses to use, or could obtain ownership of or licenses to use, on terms not materially adverse to it, all patents, trademarks, service marks, trade names, copyrights and rights with respect thereto necessary for the present conduct of its business, without any known conflict with the rights of others, and free from any burdensome restrictions, except where such conflicts and restrictions could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.08.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subsidiaries</font><font style="font-family:inherit;font-size:12pt;">.  %3.Schedule&#160;3.08 sets forth as of the Second Restatement Effective Date the name and jurisdiction of incorporation of each Subsidiary and, as to each such Subsidiary, the percentage of each class of Capital Stock owned by GrafTech or by any Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">As of the Second Restatement Effective Date, there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than those granted to employees, consultants or directors and directors&#8217; qualifying shares) of any nature relating to any Capital Stock of GrafTech, a Borrower or any other Subsidiary, except under the Loan Documents or as set forth on Schedule 3.08.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.09.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Litigation; Compliance with Laws</font><font style="font-family:inherit;font-size:12pt;">.  %3.There are not any material actions, suits or proceedings at law or in equity or by or before any Governmental Authority now pending or, to the knowledge of GrafTech, threatened against or affecting GrafTech, a Borrower or any other Subsidiary or any business, property or rights of any such person (i)&#160;which involve any Loan Document or, as of the Second Restatement Effective Date, the Transactions or (ii)&#160;as to which there is a reasonable possibility of an adverse determination and which, if adversely determined, could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.  It is understood and agreed that the incurrence of liability and/or settlement costs in an aggregate amount not to exceed $35,000,000 in respect of any such action, suit or proceeding shall not taken by itself constitute a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">None of GrafTech, the Borrowers, the other Subsidiaries and their respective material properties or assets is in violation of (nor will the continued operation of their material properties and assets as currently operated violate) any law, rule or regulation (including any Environmental Law), or is in default with respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default could reasonably be expected to result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech has implemented and maintains in effect policies and procedures designed to ensure compliance by GrafTech, the Borrowers and the other Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and GrafTech, the Borrowers and the other Subsidiaries and their respective directors, officers and employees, and to the knowledge of GrafTech their respective agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.  None of (a) the GrafTech or any Subsidiary </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">88</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">or (b) to the knowledge of GrafTech, any of their respective directors, officers or employees, or any agent of GrafTech or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person.  </font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt"> </sup></font><font style="font-family:inherit;font-size:12pt;">No Borrowing or Letter of Credit, use of proceeds or other transaction contemplated by this Agreement will result in a violation by any party hereto of Anti-Corruption Laws or applicable Sanctions.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.10.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreements</font><font style="font-family:inherit;font-size:12pt;">.  %3.None of GrafTech, the Borrowers and the other Subsidiaries is a party to any agreement or instrument or subject to any corporate restriction that has resulted or could reasonably be expected to result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">None of GrafTech, the Borrowers and the other Subsidiaries is in default in any manner under any provision of any indenture or other agreement or instrument evidencing Indebtedness, or any other material agreement or instrument to which it is a party or by which it or any of its properties or assets are or may be bound, in either case where such default could reasonably be expected to result in a Material Adverse Effect.  Immediately after giving effect to the Transactions, no Default or Event of Default shall have occurred and be continuing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.11.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Federal Reserve Regulations</font><font style="font-family:inherit;font-size:12pt;">.  (a)&#160;&#160;None of GrafTech, the Borrowers and the other Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock, as defined in Regulation U of the Board from time to time in effect (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Margin Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)  No part of the proceeds of any Loan or Letter of Credit will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, (i)&#160;to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund indebtedness originally incurred for such purpose or (ii)&#160;for any purpose which entails a violation of, or which is inconsistent with, the provisions of the Regulations of the Board, including Regulation&#160;U or X.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.12.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Investment Company Act</font><font style="font-family:inherit;font-size:12pt;">.  None of GrafTech, the Borrowers and the other Subsidiaries is an &#8220;investment company&#8221; as defined in, or subject to regulation under, the Investment Company Act of 1940.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.13.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Use of Proceeds</font><font style="font-family:inherit;font-size:12pt;">.  All proceeds of the Term Loans will be used to prepay, redeem or repurchase Senior Subordinated Notes.  The Borrowers and the LC Subsidiaries have used, and will use, the proceeds of the Loans and have requested, and will request, the issuance of Letters of Credit only for the purposes specified in the preamble to this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.14.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Tax Returns</font><font style="font-family:inherit;font-size:12pt;">.  Each of GrafTech, the Borrowers and the other Subsidiaries has timely filed or caused to be timely filed all Federal, and all material state and local, tax returns required to have been filed by it and has paid or </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">89</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">caused to be paid all taxes shown thereon to be due and payable by it and all assessments in excess of $2,000,000 in the aggregate, except for taxes or assessments that are being contested in good faith by appropriate proceedings in accordance with Section&#160;5.03 and for which such person has set aside on its books adequate reserves in accordance with GAAP.  Each of GrafTech, the Borrowers and the other Subsidiaries has paid in full or made adequate provision (in accordance with GAAP) for the payment of all taxes due with respect to all periods ending on or before the Second Restatement Effective Date, which taxes, if not paid or adequately provided for, could reasonably be expected to have a Material Adverse Effect.  Except as set forth on Schedule 3.14, as of the Restatement Effective Date, with respect to each of GrafTech, the Borrowers and the other Subsidiaries, (a) no material claims are being asserted in writing with respect to any taxes, (b) no presently effective waivers or extensions of statutes of limitation with respect to taxes have been given or requested, (c) no tax returns are being examined by, and no written notification of intention to examine has been received from, the Internal Revenue Service or, with respect to any material potential adjustment to tax liability, any other taxing authority and (d) no currently pending assertion of any material potential tax liability has been raised in writing by the Internal Revenue Service or, with respect to any material potential tax liability, any other taxing authority.  For purposes of this Section 3.14 and Section 5.03, &#8220;taxes&#8221; shall mean any present or future tax, levy, impost, duty, charge, assessment or fee of any nature (including interest, penalties and additions thereto) that is imposed by any Governmental Authority.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.15.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Material Misstatements</font><font style="font-family:inherit;font-size:12pt;">.  %3.The written information, reports, financial statements, exhibits and schedules (other than financial projections) furnished by or on behalf of GrafTech, any Borrower or any of the other Subsidiaries to the Administrative Agent or any Lender in connection with the negotiation of any Loan Document or included therein or delivered pursuant thereto (including the Lender Presentation dated February 13, 2015 (as supplemented on or before the Second Restatement Effective Date, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lender Presentation</font><font style="font-family:inherit;font-size:12pt;">&#8221;) relating to GrafTech and its subsidiaries), when taken as a whole, did not contain as of the date furnished, as they may have been amended, supplemented or modified from time to time, and did not contain, as of the Second Restatement Effective Date, any material misstatement of fact and did not omit as of the date furnished and as they may have been amended, supplemented or modified from time to time, did not omit, as of the Second Restatement Effective Date to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading in their presentation of the refinancing (as described in the Lender Presentation) or of GrafTech, the Borrowers and the other Subsidiaries, taken as a whole.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All financial projections concerning GrafTech, the Borrowers and the other Subsidiaries that have been or will be made available to the Administrative Agent or any Lender by GrafTech, a Borrower or any other Subsidiary, including those contained in the Lender Presentation, unless otherwise disclosed, have been or will be prepared in good faith based upon assumptions believed by GrafTech and the Borrowers to be reasonable.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">90</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.16.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employee Benefit Plans</font><font style="font-family:inherit;font-size:12pt;">.  Each of GrafTech, the Borrowers and the ERISA Affiliates is in compliance with the applicable provisions of ERISA and the provisions of the Code relating to ERISA and the regulations and published interpretations thereunder and any similar applicable non&#8209;U.S. law, except for such noncompliance which could not reasonably be expected to result in a Material Adverse Effect.  No Reportable Event has occurred as to which GrafTech, a Borrower or any ERISA Affiliate was required to file a report with the PBGC, other than reports for which the 30 day notice requirement is waived, reports that have been filed and reports the failure of which to file could not reasonably be expected to result in a Material Adverse Effect.  There has been no failure by any Plan to meet the minimum funding standards (as defined in Section 412 of the Code or Section 302 of ERISA) applicable to such Plan, in each instance, whether or not waived, nor has there been a filing pursuant to Sections 412 and 430 of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan where such events could reasonably be expected to result in a Material Adverse Effect.  None of GrafTech, the Borrowers and the ERISA Affiliates has incurred or could reasonably be expected to incur any Withdrawal Liability that could reasonably be expected to result in a Material Adverse Effect.  None of GrafTech, the Borrowers and the ERISA Affiliates has received any written notification that any Multiemployer Plan is in reorganization or has been terminated within the meaning of Title IV of ERISA, and no Multiemployer Plan is reasonably expected to be in reorganization or to be terminated, where such reorganization or termination has resulted or could reasonably be expected to result, through increases in the contributions required to be made to such Plan or otherwise, in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.17.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Environmental Matters</font><font style="font-family:inherit;font-size:12pt;">.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">There has not been a Release or threatened Release of Hazardous Materials at, on, under or around the properties currently owned or currently or formerly operated by GrafTech, the Borrowers and the other Subsidiaries (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Properties</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in amounts or concentrations which (i)&#160;constitute or constituted a violation of Environmental Laws, except as could not reasonably be expected to have a Material Adverse Effect, (ii)&#160;would reasonably be expected to give rise to an Environmental Claim which, in any such case or in the aggregate, is reasonably likely to result in a Material Adverse Effect or (iii)&#160;except as set forth in Schedule 3.17, could reasonably be expected to impair materially the fair saleable value of any material Property.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Properties and all operations of GrafTech, the Borrowers and the other Subsidiaries are in compliance, and in all prior periods have been in compliance, with all Environmental Laws, and all necessary Environmental Permits have been obtained and are in effect, except to the extent that such non-compliance or failure to obtain any necessary Environmental Permits, in the aggregate, are not reasonably likely to result in a Material Adverse Effect.</font></div><br><div><div 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assumed, in whole or in part, contractually, by operation of law or otherwise, which, in any such case or in the aggregate, is reasonably likely to result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Hazardous Materials have not been transported from the Properties, nor have Hazardous Materials been generated, treated, stored or disposed of at, on, under or around any of the Properties in a manner that could reasonably be expected to give rise to liability of GrafTech, a Borrower or any other Subsidiary under any Environmental Law, nor have any of GrafTech, the Borrowers and the other Subsidiaries retained or assumed any liability, contractually, by operation of law or otherwise, with respect to the generation, treatment, storage or disposal of Hazardous Materials, which, in any such case or in the aggregate, is reasonably likely to result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">No Lien in favor of any Governmental Authority for (i)&#160;any liability under any Environmental Law or (ii)&#160;damages arising from or costs incurred by such Governmental Authority in response to a Release or threatened Release of Hazardous Materials into the environment has been recorded with respect to the Properties, except for Liens permitted by Section&#160;6.02.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(j)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In connection with the closure, decommissioning or sale of any of the Properties, there have been no events, conditions or circumstances that have been discovered that require action or response under any Environmental Law, which response or action, individually or in the aggregate, is reasonably likely to result in a Material Adverse Effect.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.18.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Capitalization of GrafTech and the Borrowers</font><font style="font-family:inherit;font-size:12pt;">.  The authorized Capital Stock, the par value thereof and the amount of such authorized Capital Stock issued and outstanding for each of Finance, Luxembourg Parent, Luxembourg Holdco and Swissco as of the Second Restatement Effective Date, is set forth on Schedule 3.18.  All outstanding shares of Capital Stock of each of Finance, Luxembourg Parent, Luxembourg Holdco and Swissco are fully paid and nonassessable, are owned beneficially and of record by (a) Holdings in the case of Finance; (b) GrafTech International Holdings in the case of Luxembourg Parent; (c) Luxembourg Parent in the case of Luxembourg Holdco; and (d) Luxembourg Holdco in the case of Swissco, and in each case are free and clear of all Liens and encumbrances whatsoever other than the Liens created by the Loan Documents.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.19.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Security Documents</font><font style="font-family:inherit;font-size:12pt;">.  %3.&#160;Each Pledge Agreement is effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral (as defined in such Pledge Agreement), and, in the case of the Domestic Pledge Agreement, when such </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Collateral is delivered to the Collateral Agent such Pledge Agreement will constitute a fully perfected first priority Lien on and security interest in all right, title and interest of each pledgor thereunder in such Collateral, in each case prior and superior in right to any other person.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each Security Agreement is effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral (as defined in such Security Agreement), and when the actions contemplated by such Security Agreement are taken, such Security Agreement will constitute a fully perfected Lien on and security interest in all right, title and interest of the grantors thereunder in such Collateral and, as to assets in the United States, subject to &#167;&#160;9&#8209;315 of the Uniform Commercial Code (and, as to assets outside the United States, subject to the comparable provision of the law that governs each such Security Agreement), the proceeds thereof, in each case prior and superior in right to any other person, other than with respect to Liens expressly permitted by Section&#160;6.02.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">When a Security Agreement is filed in the United States Patent and Trademark Office and the United States Copyright Office, and when the other actions contemplated by such Security Agreement are taken, such Security Agreement will constitute a fully perfected Lien on, and security interest in, all right, title and interest of the grantors thereunder in the Intellectual Property (as defined in such Security Agreement) listed therein and, subject to &#167;&#160;9&#8209;315 of the Uniform Commercial Code, the proceeds thereof, in each case prior and superior in right to any other person.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Mortgages are effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable Lien on all of the Loan Parties&#8217; right, title and interest in and to the Mortgaged Properties and, to the extent provided by applicable law, the proceeds thereof, and when the Mortgages are filed in the offices specified on Schedule&#160;3.19(d) (or, in the case of Mortgaged Properties not owned by GrafTech or a Subsidiary on the Second Restatement Effective Date, the appropriate filing offices in the jurisdictions in which such Mortgaged Properties are located), the Mortgages will constitute fully perfected Liens on, and security interests in, all right, title and interest of the Loan Parties in the Mortgaged Properties, in each case prior and superior in right to any other person, other than with respect to the rights of persons pursuant to Liens expressly permitted by Section&#160;6.02.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">On the Second Restatement Effective Date, the Collateral and Guarantee Requirement was satisfied, and at all times thereafter, the Collateral and Guarantee Requirement will be satisfied.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.20.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Labor Matters</font><font style="font-family:inherit;font-size:12pt;">.  Except as set forth in Schedule 3.20, there are no strikes pending or threatened against GrafTech, a Borrower or any other Subsidiary which, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect.  The hours worked and payments made to employees of GrafTech, the Borrowers and the other Subsidiaries have not been in violation in any material respect of the Fair Labor Standards Act or any other applicable law dealing with </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">93</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">such matters.  All material payments due from GrafTech, a Borrower or any other Subsidiary or for which any claim may be made against GrafTech, a Borrower or any other Subsidiary, on account of wages and employee health and welfare insurance and other benefits, have been paid or accrued as a liability on the books of GrafTech, such Borrower or such other Subsidiary to the extent required by GAAP.  None of the Transactions has given or will give rise to a right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which GrafTech, a Borrower or any other Subsidiary (or any predecessor) is a party or by which GrafTech, a Borrower or any other Subsidiary (or any predecessor) is bound, other than collective bargaining agreements which, individually or in the aggregate, are not material to GrafTech, the Borrowers and the other Subsidiaries taken as a whole.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.21.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Insurance</font><font style="font-family:inherit;font-size:12pt;">.  Each of GrafTech, the Borrowers and the other Subsidiaries carries and maintains with respect to its insurable properties insurance (including, to the extent consistent with past practices, self-insurance) with financially sound and reputable insurers of the types, to such extent and against such risks as is customary with companies in the same or similar businesses.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.22.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Location of Real Property and Leased Premises</font><font style="font-family:inherit;font-size:12pt;">.  %3. As of the Second Restatement Effective Date, GrafTech, the Borrowers and the other Subsidiaries own in fee all the real property set forth as being owned by them on Schedule&#160;3.22(a).  Schedule&#160;3.22(a)(i) lists completely and correctly as of the Second Restatement Effective Date all real property owned by GrafTech, the Borrowers and the other Subsidiaries that is required to have a Mortgage granted thereon pursuant to the Collateral and Guarantee Requirement, together with the address thereof, and Schedule&#160;3.22(a)(ii) lists completely and correctly as of the Second Restatement Effective Date all other real property owned by GrafTech, the Borrowers and the other Subsidiaries, together with the address thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">As of the Second Restatement Effective Date, GrafTech, the Borrowers and the other Subsidiaries have valid leases in all the real property set forth as being leased by them on Schedule&#160;3.22(b).  Schedule&#160;3.22(b)(i) lists completely and correctly as of the Second Restatement Effective Date all real property leased by GrafTech, the Borrowers and the other Subsidiaries that is required to have a leasehold mortgage granted thereon pursuant to the Collateral and Guarantee Requirement, together with the address thereof, and Schedule&#160;3.22(b)(ii) lists completely and correctly as of the Second Restatement Effective Date all other real property leased by GrafTech, the Borrowers and the other Subsidiaries, together with the address thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 3.23.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Senior Debt Status.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The Obligations constitute &#8220;Senior Debt&#8221; under and as defined in the Senior Subordinated Notes. </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">94</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE IV</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Conditions</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 4.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restatement Effective Date.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;This Second Amended and Restated Credit Agreement became effective on the Second Restatement Effective Date in accordance with the Second Amendment and Restatement Agreement. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 4.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Each Credit Event.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The obligation of each Lender to make a Loan on the occasion of any Borrowing, and of each Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to receipt of the request therefor in accordance herewith and to the satisfaction of the following conditions:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The representations and warranties of each Loan Party set forth in the Loan Documents shall be true and correct in all material respects on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, except to the extent such representations and warranties expressly relate to an earlier date; provided that any representation and warranty that is qualified as to &#8220;materiality&#8221;, &#8220;Material Adverse Effect&#8221; or similar language, shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no Default or Event of Default shall have occurred and be continuing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit (other than those in which a Revolving Loan is being continued or converted without any increase in the aggregate principal amount thereof or a Letter of Credit is being extended or renewed) shall be deemed to constitute a representation and warranty by GrafTech and the Borrowers on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 4.03.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LC Subsidiaries.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The designation of any Subsidiary (other than a Borrower) as an LC Subsidiary and the obligation of each Issuing Bank to issue any Letter of Credit for the account of such LC Subsidiary shall not become effective until each of the following conditions is satisfied with respect to such LC Subsidiary (or waived in accordance with Section&#160;9.02):</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(m)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent (or its counsel) shall have received an LC Subsidiary Agreement signed on behalf of GrafTech and such LC Subsidiary, or in any such case written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of such LC Subsidiary Agreement) that such parties have signed a counterpart of such LC Subsidiary Agreement.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">95</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(n)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent, the Collateral Agent, the Lenders and the Issuing Banks) of counsel satisfactory to the Administrative Agent in form reasonably satisfactory to the Administrative Agent and covering such matters as the Administrative Agent shall reasonably request in connection with such LC Subsidiary.  Each of GrafTech and the Borrowers hereby requests such counsel to deliver such opinions.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(o)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of such LC Subsidiary, the authorization of the Transactions to which it will be party and any other legal matters relating thereto, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font 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style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Administrative Agent shall have received from a Financial Officer of Finance a certificate to the effect that (i) all the proceeds of the Term Borrowings shall be applied substantially contemporaneously with the making of such Term Borrowings to prepay Senior Subordinated Notes and (ii) after giving effect to such application, the remaining outstanding amount of Senior Subordinated Notes (giving effect to all accretion thereon through maturity) shall be not greater than $50,000,000.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">96</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE V</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Affirmative Covenants</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each of GrafTech and the Borrowers covenants and agrees with each Lender that, so long as this Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan, all fees and all other expenses or amounts payable under any Loan Document have been paid in full and all Letters of Credit have been canceled or have expired or been cash collateralized in accordance with Section 2.05(i) and all amounts drawn thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, each of GrafTech and the Borrowers will, and will cause each of the Subsidiaries to:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existence; Businesses and Properties; Compliance with Laws.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence, except as otherwise expressly permitted under Section&#160;6.05 and except for the liquidation or dissolution of Subsidiaries if the assets of such persons to the extent they exceed estimated liabilities are acquired by GrafTech or a Wholly Owned Subsidiary (in a proportion at least as favorable to GrafTech and its other Subsidiaries as its proportionate ownership interest therein) in such liquidation or dissolution; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that Subsidiaries that are Loan Parties or Guarantors may not be liquidated or dissolved into Subsidiaries that are not Loan Parties or Guarantors, respectively, and Domestic Subsidiaries may not be liquidated or dissolved into Foreign Subsidiaries.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Do or cause to be done all things necessary to obtain, preserve, renew, extend and keep in full force and effect the rights, licenses, permits, franchises, authorizations, patents, copyrights, trademarks and trade names material to the conduct of its business; comply in all material respects with all applicable laws, rules, regulations (including any Environmental Law) and orders of any Governmental Authority, whether now in effect or hereafter enacted; and at all times maintain and preserve all property material to the conduct of such business and keep such property in good repair, working order and condition and from time to time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at all times (in each case except as expressly permitted by this Agreement).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Maintain in effect and enforce policies and procedures designed to ensure compliance by GrafTech, the Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Insurance.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Keep its insurable properties insured at all times by financially sound and reputable insurers in such amounts as shall be customary for similar businesses and maintain such other insurance (including, to the extent consistent with past practices, self-insurance), of such types, to such extent and against such risks, as is customary with companies in the same or similar businesses.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">97</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(s)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Cause all such property and casualty insurance policies with respect to the Mortgaged Properties to be endorsed or otherwise amended to include a &#8220;standard&#8221; or &#8220;New&#160;York&#8221; lender&#8217;s loss payable endorsement, in form and substance reasonably satisfactory to the Administrative Agent and the Collateral Agent, which endorsement shall provide that if the insurance carrier shall have received written notice from the Administrative Agent or the Collateral Agent of the occurrence of an Event of Default, the insurance carrier shall pay all proceeds otherwise payable to the Loan Parties under such policies directly to the Collateral Agent; cause all such policies to provide that none of the applicable Loan Party, the Administrative Agent, the Collateral Agent or any other party shall be a coinsurer thereunder and to contain a &#8220;Replacement Cost Endorsement&#8221;, without any deduction for depreciation, and such other provisions as the Administrative Agent or the Collateral Agent may reasonably (in light of a Default or a material development in respect of the insured Mortgaged Property) require from time to time to protect their interests; deliver original or certified copies of all such policies (or certificates in respect thereof satisfactory to the Collateral Agent) to the Collateral Agent; cause each such policy to provide that it shall not be canceled, modified or not renewed (i)&#160;by reason of nonpayment of premium upon less than 10&#160;days&#8217; prior written notice thereof by the insurer to the Administrative Agent and the Collateral Agent or (ii)&#160;for any other reason upon less than 30&#160;days&#8217; prior written notice thereof by the insurer to the Administrative Agent and the Collateral Agent; deliver to the Administrative Agent and the Collateral Agent, prior to the cancelation, modification or nonrenewal of any such policy of insurance, a copy of a renewal or replacement policy (or other evidence of renewal of a policy previously delivered to the Administrative Agent and the Collateral Agent), or an insurance certificate with respect thereto, together with evidence reasonably satisfactory to the Administrative Agent and the Collateral Agent of payment of the premium therefor.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(t)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If at any time the area in which any of the Premises (as defined in the Mortgages) is located is designated (i)&#160;a &#8220;flood hazard area&#8221; in any Flood Insurance Rate Map published by the Federal Emergency Management Agency (or any successor agency), obtain flood insurance in such reasonable total amount as the Administrative Agent, the Collateral Agent or the Required Lenders may from time to time reasonably require, and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as it may be amended from time to time, or (ii)&#160;a &#8220;Zone&#160;1&#8221; area (as so designated in the National Ocean and Earthquake Risk Map), obtain earthquake insurance in such reasonable total amount as the Administrative Agent, the Collateral Agent or the Required Lenders may from time to time reasonably require.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(u)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">With respect to each Mortgaged Property, carry and maintain comprehensive general liability insurance and coverage on an occurrence basis against claims made for personal injury (including bodily injury, death and property damage) and umbrella liability insurance against any and all claims, in no event for a combined single limit of less than $1,000,000, naming the Collateral Agent as an additional insured, on forms reasonably satisfactory to the Collateral Agent.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">98</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Notify the Administrative Agent and the Collateral Agent promptly whenever any separate insurance concurrent in form or contributing in the event of loss with that required to be maintained under this Section&#160;5.02 is taken out by GrafTech, a Borrower or any other Subsidiary; and promptly deliver to the Administrative Agent and the Collateral Agent a duplicate original copy or certified copy of such policy or policies, or an insurance certificate with respect thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(w)</font><font 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than the aforesaid parties for the recovery of such loss or damage and (B)&#160;such insurance companies shall have no rights of subrogation against the Administrative Agent, the Collateral Agent, the Lenders, the Issuing Banks or their agents or employees; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that if the insurance policies do not provide for waiver of subrogation rights against such parties, as required above, then each of GrafTech and the Borrowers hereby agrees, to the extent permitted by law, to waive, and to cause each other Subsidiary to waive, its right of recovery, if any, against the Administrative Agent, the Collateral Agent, the Lenders, the Issuing Banks and their agents and employees; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the designation of any form, type or amount of insurance coverage by the Administrative Agent, the Collateral Agent or the Required Lenders under this Section&#160;5.02 shall in no event be deemed a representation, warranty or advice by the Administrative Agent, the Collateral Agent or the Lenders that such insurance is adequate for the purposes of the business of GrafTech, the Borrowers and the other Subsidiaries or the protection of their properties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.03.</font><font 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Available Disposition Proceeds, Equity Proceeds and Foreign Transfers as of the last day of the fiscal period reported on in such financial statements and setting forth computations in detail reasonably satisfactory to the Administrative Agent showing all transactions or other events increasing or decreasing such amounts (it being understood that the information required by clauses&#160;(B) and (C) may be </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">provided in a certificate of GrafTech signed by one of 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respectively, for each Unrestricted Subsidiary and for each minority interest in respect of which the Loan Parties shall, directly or indirectly, have an aggregate outstanding Investment in excess of $5,000,000;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(m)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">promptly, a copy of all final reports submitted in connection with any material interim or material special audit made by independent accountants of the books of GrafTech or any Subsidiary; </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(n)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">within 180&#160;days after the beginning of each fiscal year, the statutory accounts of Swissco for such fiscal year, audited by PricewaterhouseCoopers LLP or other independent public accountants of recognized standing internationally or in Switzerland acceptable to the Administrative Agent (which acceptance shall not be unreasonably withheld) and accompanied by an opinion of such accountants (which shall not be qualified in any material respect) to the effect that such accounts present the financial condition and results of operations of Swissco in accordance with Swiss auditing standards;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(o)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">within 180 days after the beginning of each fiscal year, the unaudited statutory accounts of Luxembourg Parent and, to the extent available, its covered subsidiaries for such fiscal year; and, in addition, if external audits of the statutory accounts of Luxembourg Parent, and, to the extent applicable, its covered subsidiaries, are available, as promptly as reasonably practicable thereafter; provided that any such external audit shall be conducted by PricewaterhouseCoopers LLP or other independent public accountants of recognized standing internationally or in Luxembourg acceptable to the Administrative Agent (which acceptance shall not be unreasonably withheld) and accompanied by an opinion of such accountants (which shall not be qualified in any material respect) to the effect that such accounts present the financial condition and results of operations of Luxembourg Parent and, to the extent applicable, its covered subsidiaries in accordance with Luxembourg auditing standards;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(p)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">within 180 days after the beginning of each fiscal year, the unaudited statutory accounts of Luxembourg Holdco and, to the extent available, its covered subsidiaries for such fiscal year; and, in addition, if external audits of the statutory accounts of Luxembourg Holdco, and, to the extent applicable, its covered subsidiaries, are available, as promptly as reasonably practicable thereafter; provided that any such external audit shall be conducted by PricewaterhouseCoopers LLP or other independent public accountants of recognized standing internationally or in Luxembourg acceptable to the Administrative Agent (which acceptance shall not be unreasonably withheld) and accompanied by an opinion of such accountants (which shall not be qualified in any material respect) to the effect that such accounts present the financial condition and results of operations of Luxembourg Holdco and, to the extent applicable, its covered subsidiaries in accordance with Luxembourg auditing standards;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(q)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">within 120&#160;days after the beginning of each fiscal year commencing with fiscal year 2016, each Borrower that is a Domestic Subsidiary shall deliver to the Administrative Agent a bring-down Perfection Certificate of such Borrower signed by one of its Financial Officers setting forth any information required so that the Perfection Certificate(s) delivered under the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">102</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Security Agreements</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">on the Second Restatement Effective Date shall be complete and correct as of the date of such bring-down Perfection Certificate;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(r)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">promptly following any request therefor, all documentation and other information required by bank regulatory authorities under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the USA Patriot Act; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font 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posted on the SEC website on the Internet at www.sec.gov, or at another website identified in such notice and accessible by the Lenders without charge, provided that such notice may be included in a certificate delivered pursuant to Section 5.04(c).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.05.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Litigation and Other Notices.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Furnish to the Administrative Agent and each Lender written notice of the following promptly after any Responsible Officer of GrafTech obtains actual knowledge thereof:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any Event of Default or Default, specifying the nature and extent thereof and the corrective action (if any) proposed to be taken with respect thereto;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the filing or commencement of, or any written threat or notice of intention of any person to file or commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority, against GrafTech, a Borrower or any other Subsidiary in respect of which there is a reasonable possibility of an adverse determination and which, if adversely determined, could reasonably be expected to result in a Material Adverse Effect; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any other development specific to GrafTech, a Borrower or any other Subsidiary that is not a matter of general public knowledge and that has resulted in, or could reasonably be expected to result in, a Material Adverse Effect; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any 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details as to such failure and the action proposed to be taken with respect thereto, together with a copy of any such notice given to the PBGC and (iv)&#160;promptly after any such Responsible Officer learns thereof and in any event within 30&#160;days after receipt thereof by GrafTech, a Borrower or any ERISA Affiliate from the sponsor of a Multiemployer Plan, a copy of each notice received by GrafTech, a Borrower or any ERISA Affiliate concerning (A)&#160;the imposition of Withdrawal Liability or (B)&#160;a determination that a Multiemployer Plan is, or is expected to be, terminated or in reorganization, in each case within the meaning of Title IV of ERISA; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that in the case of each of clauses&#160;(i) through (iv) above, notice to the Administrative Agent shall only be required if such event or condition, together with all other events or conditions referred to in clauses&#160;(i) through (iv) above, could reasonably be expected to result in liability of GrafTech, a Borrower or any other ERISA Affiliate in an aggregate amount exceeding $35,000,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.07.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Maintaining Records; Access to Properties and Inspections.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Maintain all financial records in accordance with GAAP or, as provided in Section 1.04, IFRS and permit any persons designated by the Administrative Agent or any Lender to visit and inspect the financial records and the properties of GrafTech, a Borrower or any other Subsidiary at reasonable times, upon reasonable prior notice to GrafTech, and as often as reasonably requested, and to make extracts from and copies of such financial records, and to discuss the affairs, finances and condition of GrafTech, a Borrower or any other Subsidiary with the officers thereof and independent accountants </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">therefor (in each case, subject to reasonable requirements of confidentiality, including requirements imposed by law or by contract).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.08.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Use of Proceeds.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Use the proceeds of the Loans and request the issuance of Letters of Credit only for the purposes set forth in the preamble to this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Not request any Borrowing or Letter of 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cost of any Remedial Action required under any applicable Environmental Law in connection with such Properties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.11.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Further Assurances.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Execute any and all further documents, financing statements, agreements and instruments, and take all further action (including filing Uniform Commercial Code and other financing statements) that may be required under applicable law or that the Collateral Agent may reasonably request, (a)&#160;in order to effectuate the transactions contemplated by the Loan Documents, (b)&#160;in order to cause the Collateral and Guarantee Requirement to be satisfied at all times and (c)&#160;in order to grant, preserve, protect and perfect the validity and first priority (subject to Liens permitted by Section&#160;6.02) of the security interests created or intended to be created by the Security Documents.  All such security interests and Liens will be created under the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Security Documents and other instruments and documents in form and substance reasonably satisfactory to the Collateral Agent, and GrafTech, the Borrowers and the other Subsidiaries shall deliver or cause to be delivered to the Administrative Agent all such instruments and documents (including legal opinions and lien searches) as the Collateral Agent or the Required Lenders shall reasonably request to evidence compliance with this Section&#160;5.11.  GrafTech and the Borrowers agree to provide, and to cause each Subsidiary to provide, such evidence as the Collateral Agent shall reasonably request as to the perfection and priority status of each such security interest and Lien.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.12.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Significant Subsidiaries.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Cause Significant Subsidiaries at all times to (a)&#160;account for 85% or more of the total consolidated assets of GrafTech and (b)&#160;have accounted for 85% or more of EBITDA for each of the two consecutive periods of four fiscal quarters immediately preceding the date of determination, in each case after giving effect to the designation of any Significant Subsidiary on any date as of which compliance with this Section 5.12 is being determined.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.13.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Certain Accounting Matters.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;In the case of each of GrafTech, the Borrowers and the other Subsidiaries, cause its respective fiscal year to end on December&#160;31.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.14.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Dividends.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;In the case of GrafTech, permit its Subsidiaries to pay dividends or make cash advances and cause such dividends to be paid and cash advances to be made to the extent required to pay the monetary Obligations, subject, in the case of such dividends, to restrictions permitted by Section&#160;6.09(c) and, in the case of such dividends and cash advances, to restrictions imposed by applicable requirements of law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.15.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Corporate Separateness.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Cause the management, business and affairs of each of the Unrestricted Subsidiaries to be conducted in such a manner that each Unrestricted Subsidiary will be perceived as a legal entity separate and distinct from GrafTech, the Borrowers and the other Subsidiaries.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.16.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Compliance with Swiss Withholding Tax Rules</font><font style="font-family:inherit;font-size:12pt;">.  Swissco shall ensure that it shall comply with the Swiss Withholding Tax Rules.  For purposes of compliance with the Swiss Twenty Non-Bank Rule, Swissco shall assume for the purposes of determining the total number of creditors which are Non-Qualifying Banks that at all times there are 10 Revolving Lenders which are not Qualifying Banks under this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 5.17.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Maintenance of Ratings.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;GrafTech will use best efforts to maintain continuously in effect a corporate rating from S&amp;P and a corporate family rating from Moody&#8217;s, in each case in respect of GrafTech.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE VI</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Negative Covenants</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each of GrafTech and the Borrowers covenants and agrees with each Lender that, so long as this Agreement shall remain in effect and until the Commitments have been terminated and the principal of and interest on each Loan, all fees and all other expenses or amounts payable under any Loan Document have been paid in full and all Letters of Credit have been canceled or have expired or been cash collateralized in accordance with Section 2.05(i) and all amounts drawn thereunder have been reimbursed in full, unless the Required Lenders shall otherwise consent in writing, none of GrafTech and the Borrowers will, or will cause or permit any of the Subsidiaries to:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 6.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Indebtedness; Certain Hedges; Certain Equity Securities.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.In the case 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respect thereof;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Indebtedness created under the Loan Documents;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Interest/Exchange Rate Protection Agreements and Commodity Rate Protection Agreements entered into in order to fix or cap the effective rate of interest, or to hedge against currency fluctuations, on the Loans and other Indebtedness or to convert fixed rate obligations to floating rate obligations or to hedge against commodity price or currency fluctuations with respect to purchases and sales of goods and services in the ordinary course of business; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, in each case, that such transactions shall be entered into to limit risks or control costs or expenses arising in the business of Finance and the Subsidiaries and not for the purpose of speculation or shall be entered into to take advantage of reduced interest rates by converting fixed rate obligations to floating rate obligations;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vi)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Indebtedness owed to (including obligations in respect of letters of credit for the benefit of) any person providing worker&#8217;s compensation, health, disability, retirement or other employee benefits or property, casualty or liability insurance to or for GrafTech, a Borrower or any </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">107</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">other Subsidiary, pursuant to reimbursement or 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(other than Indebtedness owed by any of Luxembourg Parent, Luxembourg Holdco or Swissco to any of Luxembourg Parent, Luxembourg Holdco or Swissco) is expressly permitted under Section 6.04(d)(ii), (j), (k), (l) or (m) and such Indebtedness shall be evidenced by promissory notes that are pledged under a Pledge Agreement and (B)&#160;Indebtedness of a Borrower or any Subsidiary Loan Party that is owed to Luxembourg Parent, Luxembourg Holdco or Swissco or that is owed to any Subsidiary that is not a Loan Party shall be subordinated to the Obligations on terms reasonably satisfactory to the Administrative Agent;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(viii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#32;Indebtedness of a Subsidiary which represents the assumption by such Subsidiary of Indebtedness of another Subsidiary in connection with the permitted merger of such other Subsidiary with or into such Subsidiary or the permitted purchase of all or substantially all the assets of such other Subsidiary, and extensions, renewals and replacements of any such Indebtedness that are not created in contemplation of the transaction and do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted average life thereof or add any new obligor in respect thereof;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:65px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ix)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Indebtedness of any Subsidiary in respect of performance bonds, bid bonds, surety bonds, bank guarantees (other than 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and where such acquisition, formation, merger or consolidation is permitted by this Agreement, and extensions, renewals and replacements of any such Indebtedness that are not created in contemplation of the transaction and do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted average life thereof or add any new obligor in respect thereof; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that such Indebtedness shall not exceed $100,000,000 for all such acquired Subsidiaries at any time outstanding; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font 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For the avoidance of doubt, (A) in the event and to the extent that substantially simultaneously with the making of any new Investment, the investor receives a return of capital in respect of an existing Investment in the same person in which such new Investment is being made, such new Investment will be deemed to be a continuation of such existing Investment for purposes of determining compliance with the provisions of this Section 6.04, and (B) in the event and to the extent that substantially simultaneously with the making of any new Investment by a Loan Party in Luxembourg Parent, Luxembourg Holdco or Swissco (x) with the proceeds of Indebtedness incurred under the General Debt Basket, Luxembourg Parent, Luxembourg Holdco or Swissco makes an Investment under Section 6.04(j) with such proceeds in a Foreign Subsidiary, then the use of such proceeds to make such Investment (and any further substantially simultaneous Investment made with such proceeds) shall not constitute an additional usage of the basket under Section 6.04(d) or 6.04(j), or (y) with Equity Proceeds or Available Disposition Proceeds, then the use of such proceeds to make such Investment (and any further substantially simultaneous Investment made with such proceeds) shall be deemed to have been made with such Equity Proceeds or Available Disposition Proceeds.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">120</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 6.05.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font 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non-Wholly Owned Subsidiary immediately prior the effectiveness of such merger (which shall be a Domestic Subsidiary if the non-surviving person shall be a Domestic Subsidiary, a Guarantor if the non-surviving person shall be a Guarantor (and a Loan Party that is not an Excluded Foreign Loan Party if the non-surviving person shall be a Loan Party that is not an Excluded Foreign Loan Party)), and no person other than GrafTech, a Wholly Owned Subsidiary or such non-Wholly Owned Subsidiary receives any consideration;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;(c)  <br></font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Sale and Lease-Back Transactions permitted by Section&#160;6.03;</font></div><div 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style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that obligations of the type referred to in paragraphs (a) or (e) of the definition of &#8220;Permitted Investments&#8221; shall be deemed not to be non-cash proceeds if such obligations are promptly sold for cash and the proceeds of such sale are included in the calculation of Net Proceeds from such sale; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:136px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(iii)&#160;</font></div></td><td style="vertical-align:top;"><div 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was pledged pursuant to a Pledge Agreement, the Capital Stock of such Subsidiary not sold or otherwise disposed of shall remain subject to the Lien of a Pledge Agreement, and (3) such sale or other disposition of Capital Stock shall be treated as an acquisition of the remaining Capital Stock for purposes of Section 6.04 and shall be permitted under Section 6.04(j), (k), (l) or (m);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;(j)  <br></font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the spin off of the Capital Stock of any Subsidiary or any other non-cash distribution to equity holders of GrafTech; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font 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style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing, no transaction may be effected in reliance on any of paragraphs (a) through (k) above if such transaction would constitute or result in an Excess Foreign Transfer.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 6.06.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Dividends and Distributions.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Declare or make, directly or indirectly, any Restricted Payment, or 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a pro forma basis after giving effect to such transaction as if such transaction had occurred on the first day of the relevant period for such computation) is less than or equal to 3.25 to 1.00, $200,000,000, or (B) if (1) the Availability Condition shall be satisfied following the making of any such Restricted Payment and (2) the Leverage Ratio as of the last day of the most recent fiscal quarter of GrafTech for which financial statements have been delivered under Section&#160;5.04(a) or (b) (recomputed on a pro forma basis after giving effect to such transaction as if such transaction had occurred on the first day of the relevant period for such computation) is less than or equal to 2.00 to 1.00, $500,000,000);</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">125</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech may make Restricted Payments (and directly owned subsidiaries of GrafTech may make Restricted Payments to GrafTech) to purchase or redeem shares of Capital Stock of GrafTech held by present or former directors, officers or employees of GrafTech or any Subsidiary or by any Plan upon such person&#8217;s death, disability, retirement or termination of employment or under the terms of any such Plan or any other agreement under which such shares of stock or related rights were issued; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the aggregate amount of such purchases or redemptions under this paragraph&#160;(d) shall not exceed $1,000,000 per calendar year which, if not used in any such year, may be carried forward to any subsequent calendar year; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the aggregate amount of such purchases or redemptions that may be made pursuant to this paragraph&#160;(d) during the period after the Restatement Effective Date shall not exceed 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outstanding hereunder (i) at any time no Default or Event of Default has occurred and is continuing, in connection with conversions, redemptions, repurchases or prepayments of such Indebtedness, in each case to the extent such amounts are permitted to be paid under Section 6.09(d), or (ii) of amounts then due (other than as a result of the delivery of any notice of prepayment or redemption) in respect of such Indebtedness.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 6.07.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Transactions with Affiliates.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Sell or transfer any property or assets to, or purchase or acquire any property or assets from, or otherwise engage in any other 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style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The foregoing paragraph&#160;(a) shall not prohibit, to the extent otherwise permitted under this Agreement, (i)&#160;any issuance of securities, or other payments, awards or grants in cash, securities or otherwise, pursuant to, or the funding of, employment, retention, incentive, severance or retirement arrangements or stock option, ownership or purchase plans or compensation, retirement or benefit plans, programs or arrangements (including stock-based plans, programs or arrangements) for employees, officers or directors, (ii)&#160;loans or advances to employees of GrafTech, a Borrower or any </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">126</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">other Subsidiary in accordance with Section&#160;6.04(e), (iii)&#160;transactions among GrafTech, the Borrowers and Wholly Owned Subsidiaries, (iv)&#160; Permitted Subsidiary Transfers, (v)&#160;transactions pursuant to permitted agreements in existence on the Restatement Effective Date and set forth on Schedule&#160;6.07, (vi)&#160;payments pursuant to the Tax Sharing Agreement, (vii) employment, consulting, retention, incentive, severance or retirement agreements entered into by GrafTech, a Borrower or any of the other Subsidiaries in the ordinary course of business and fees, payments, awards or grants pursuant thereto (viii)&#160;Restricted Payments permitted under Section 6.06, (ix) guarantee fees or similar payments in respect of any Guarantee Agreement and (x) any grant of board nomination rights, registration rights or other governance rights or rights in respect of equity to any seller in connection with an acquisition notwithstanding that immediately following receipt of such rights the recipient shall have become an Affiliate of the granting person, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the recipient shall not have been an Affiliate of such person immediately prior to such grant.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 6.08.</font><font 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under the Loan Documents, under intercompany Indebtedness and under Indebtedness incurred in accordance with Section&#160;6.01(b) and Investments in Subsidiaries permitted by Section 6.04, (iv)&#160;actions necessary or appropriate to maintain its status as a corporation, as a parent holding company and as a public company and to preserve and assert its rights and protect and defend its interests and to perform its obligations under contracts to which it is a party, (c)&#160;in the case of Finance, own any Capital Stock of any person or engage at any time in any business activity other than (i)&#160;performance of its obligations under the Loan Documents, (ii)&#160;conducting treasury and cash management functions for GrafTech and the Subsidiaries consistent with past practices and (iii) activities necessary or appropriate to maintain its status as a corporation and to preserve and assert its rights and protect and defend its interests and (d) in the case of Luxembourg Parent, engage 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on account of the principal of intercompany Indebtedness owed to GrafTech or directly or </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">127</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">indirectly prepay or defease any such Indebtedness, except that payments in respect of intercompany Indebtedness owed to GrafTech may be made (i) in order to fund payments permitted to be made under Section 6.06, (ii) to the extent paid in common stock of the payor, (iii) to the extent that the amounts paid are substantially simultaneously contributed by GrafTech to a Loan Party in the form of a common equity contribution or (iv) in order to fund payments in respect of the Senior Notes or other Indebtedness permitted to be incurred under Section 6.01(b).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Amend or modify in any manner adverse to the Lenders, or grant any waiver or release under or terminate in any manner (if such action shall be adverse to the Lenders), the certificate of incorporation, by&#8209;laws or other organizational documents of GrafTech, a Borrower or any other Subsidiary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font 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style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">payments of or in respect of Indebtedness owed to GrafTech or any Subsidiary;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii) regularly scheduled interest and principal payments as and when due in respect of any Indebtedness, other than payments in respect of subordinated Indebtedness prohibited by the subordination provisions thereof;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii) refinancings of Indebtedness to the extent permitted under Section 6.01;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font 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style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing, no payment of or in respect of Indebtedness owed by any Loan Party to Luxembourg Parent, Luxembourg Holdco or Swissco or by any Loan Party to any Foreign Subsidiary may be made except and to the extent that an Investment in the amount of such payment could be made by the payor in the payee (and any such payment shall be deemed to be an Investment for purposes of determining compliance with Section 6.04).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 6.10.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Coverage Ratio.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Permit the ratio (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Coverage Ratio</font><font style="font-family:inherit;font-size:12pt;">&#8221;) for any four fiscal quarter period ended after the Second Restatement Effective Date of (a)&#160;EBITDA to (b)&#160; Cash Interest Expense to be less than 2.50 to 1.00 (or, on and after the Senior Notes Issuance Date, 2.25 to 1.00).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 6.11.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech Senior Secured Leverage Ratio.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Permit the ratio (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech Senior Secured Leverage Ratio</font><font style="font-family:inherit;font-size:12pt;">&#8221;) of (a)&#160;Senior Secured Debt as of the last day of any fiscal quarter ended after the Second Restatement Effective Date  to (b)&#160; EBITDA for the four quarter period ended as of such day to be:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">prior to the occurrence of the Drawdown Date:</font></div></td></tr></table><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">129</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(A)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">from the Second Restatement Effective Date to and including September 30, 2015, in excess of 3.50 to 1.00, and</font></div></td></tr></table><table cellpadding="0" 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style="font-family:inherit;font-size:12pt;">(B)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">from January 1, 2016 to and including March 31, 2016, in excess of 3.50 to 1.00,</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(C)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">from April 1, 2016 to and including September 30, 2016, in excess of 3.25 to 1.00, and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New 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that is a Loan Party (other than an Excluded Foreign Loan Party)) any Capital Stock of any Subsidiary owned by it on the Restatement Effective Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE VII</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Events of Default</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">If any of the following events (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Events of Default</font><font style="font-family:inherit;font-size:12pt;">&#8221;) shall occur:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(bb)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">a Borrower or any LC Subsidiary shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(cc)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">a Borrower or any LC&#160;Subsidiary shall fail to pay any interest on any Loan or on any reimbursement obligation in respect of any LC Disbursement, any fee or any other amount (other than an amount referred to in clause (a)&#160;of this Article) payable under this Agreement or any other Loan Document, when and as </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">130</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days;</font></div><div 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style="font-family:inherit;font-size:12pt;">(ee)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech or a Borrower shall fail to observe or perform any covenant, condition or agreement contained in Section&#160;5.01 (with respect to the  existence of GrafTech or a Borrower), 5.05 or 5.08 or in Article&#160;VI;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ff)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any Loan Document (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 30&#160;days after notice thereof from the Administrative Agent to a Borrower (which notice will be given at the request of the Required Lenders);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(gg)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech, a Borrower, any LC Subsidiary or any Significant Subsidiary shall&#160;fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Obligation when and as the same shall become due and payable;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(hh)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any event or condition occurs that results in any Material Obligation becoming due prior to its scheduled maturity or that enables or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Obligation or any trustee or agent on its or their behalf to cause any Material Obligation or Indebtedness thereunder to become due or to terminate, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity or termination date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that this clause&#160;(g) shall not apply (i) to secured Indebtedness that becomes due as a result of a voluntary sale or transfer of the property or assets securing such Indebtedness that is permitted under the Loan Documents or (ii) the voluntary termination of any Cash Management Arrangement at any time when there is no default or event of default or (other than as a result of such voluntary termination) termination event thereunder;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">an involuntary proceeding shall be commenced or an involuntary petition shall be filed in or with a court or other Governmental Authority of competent jurisdiction seeking (i)&#160;liquidation, reorganization or other relief in respect of GrafTech, a Borrower or any other Significant Subsidiary or its debts, or of a substantial part of its assets, under any Federal, state or foreign </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">131</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii)&#160;the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for GrafTech, a Borrower or any other Significant Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60&#160;days or an order or decree approving or ordering any of the foregoing shall be entered;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(jj)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech, a Borrower or any other Significant Subsidiary shall (i)&#160;voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii)&#160;consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii)&#160;apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for GrafTech, a Borrower or any other Significant Subsidiary or for a substantial part of its assets, (iv)&#160;file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v)&#160;make a general assignment for the benefit of creditors or (vi)&#160;take any action for the purpose of effecting any of the foregoing;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(kk)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech, a Borrower or any Significant Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ll)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">one or more judgments for the payment of money in an aggregate amount in excess of $35,000,000 (except to the extent covered by insurance as to which the insurer has acknowledged in writing its obligation to pay such judgment or judgments) shall be rendered against GrafTech, a Borrower, any LC Subsidiary, any Significant Subsidiary or any combination thereof and the same shall remain undischarged for a period of 30&#160;consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of GrafTech, a Borrower, any LC Subsidiary or any Significant Subsidiary to enforce any such judgment;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(mm)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">a Reportable Event or Reportable Events, or a failure to make a required installment or other payment (within the meaning of Section&#160;412(n)(1) of the Code), shall have occurred with respect to any Plan, (ii)&#160;a trustee shall be appointed by a United&#160;States district court to administer any Plan, (iii)&#160;the PBGC shall institute proceedings (including giving notice of intent thereof) to terminate any Plan, (iv)&#160;a Borrower or any ERISA Affiliate shall have been notified by the sponsor of a Multiemployer Plan that it has incurred Withdrawal Liability to such Multiemployer Plan and such Borrower or such ERISA Affiliate does not have reasonable grounds for contesting such Withdrawal Liability or is not contesting such Withdrawal Liability in a timely and appropriate manner, (v)&#160;a Borrower or any ERISA Affiliate shall have been notified by the sponsor of a Multiemployer </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">132</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Plan that such Multiemployer Plan is in reorganization or is being terminated, within the meaning of Title&#160;IV of ERISA, (vi)&#160;a Borrower or any ERISA Affiliate shall engage in any &#8220;prohibited transaction&#8221; (as defined in Section&#160;406 of ERISA or Section&#160;4975 of the Code) involving any Plan, (vii) a failure by any Plan to meet the minimum funding standards (as defined in Section 412 of the Code or Section 302 of ERISA) applicable to such Plan, in each instance, whether or not waived, (viii) a filing pursuant to Section 412(d) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan or (ix)&#160;any other similar event or condition shall occur or exist with respect to a Plan; and in each case in clauses (i) through (ix) above, such event or condition, together with all other such events or conditions, if any, could reasonably be expected to have a Material Adverse Effect;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(nn)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">any Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party or Subsidiary not to be, a valid and perfected Lien on any Collateral, with the priority required by the applicable Security Document, or any Guarantee purported to be created under any Loan Document shall cease to be, or shall be asserted by any Loan Party not to be, in full force and effect, in each such case except (i) as a result of the sale or other disposition of the applicable Collateral in a transaction permitted under the Loan Documents or (ii) as a result of the Administrative Agent&#8217;s failure to maintain possession of any stock certificates, promissory notes or other instruments delivered to it under any Security Document; or</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(oo)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">a Change in Control shall occur;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">then, and in every such event (other than an event with respect to GrafTech or a Borrower described in clause (h) or (i) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrowers, take either or both of the following actions, at the same or different times:&#160;&#160;(i)&#160;terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii)&#160;declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrowers accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower; and in case of any event with respect to GrafTech or a Borrower described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrowers accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Borrower.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">133</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE VIII</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>The Agents</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each of the Lenders and the Issuing Banks hereby irrevocably appoints each of the Administrative Agent and the Collateral Agent as its agent and authorizes each Agent to take such actions on its behalf and to exercise such powers as are delegated to the Agents by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Any person serving as an Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not an Agent, and such bank and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with GrafTech, a Borrower, any Subsidiary or any Affiliate thereof as if it were not an Agent hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Agents shall not have any duties or obligations except those expressly set forth in the Loan Documents.  Without limiting the generality of the foregoing, (a)&#160;the Agents shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b)&#160;the Agents shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated by the Loan Documents that the Agents are required to exercise in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section&#160;9.02), and (c) except as expressly set forth in the Loan Documents, the Agents shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to GrafTech, a Borrower or any of the other Subsidiaries that is communicated to or obtained by any bank serving as Agent or any of its Affiliates in any capacity.  The Agents shall not be liable for any action taken or not taken by them with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section&#160;9.02) or in the absence of their own gross negligence or wilful misconduct.  The Agents shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Agents by GrafTech, a Borrower or a Lender, and the Agents shall not be responsible for or have any duty to ascertain or inquire into (i)&#160;any statement, warranty or representation made in or in connection with any Loan Document, (ii)&#160;the contents of any certificate, report or other document delivered thereunder or in connection therewith, (iii)&#160;the performance or observance of any of the covenants, agreements or other terms or conditions set forth in any Loan Document, (iv)&#160;the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v)&#160;the satisfaction of any condition set forth in Article&#160;IV or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Agents.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Agents shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">134</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">document or other writing believed by them to be genuine and to have been signed or sent by the proper person.  The Agents also may rely upon any statement made to them orally or by telephone and believed by them to be made by the proper person, and shall not incur any liability for relying thereon.  The Agents may consult with legal counsel (who may be counsel for a Borrower or GrafTech), independent accountants and other experts selected by them, and shall not be liable for any action taken or not taken by them in accordance with the advice of any such counsel, accountants or experts.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Agents may perform any and all their duties and exercise their rights and powers by or through any one or more sub-agents appointed by them.  The Agents and any such sub-agent may perform any and all their duties and exercise their rights and powers through their respective Related Parties.  The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Subject to the appointment and acceptance of a successor to an Agent as provided in this paragraph, such Agent may resign at any time by notifying the Lenders, the Issuing Banks and the Borrowers.  Upon any such resignation, the Required Lenders shall have the right, with, if no Default or Event of Default shall have occurred and be continuing, the consent of the Borrowers (not to be unreasonably withheld or delayed), to appoint a successor.  If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30&#160;days after the resigning Agent gives notice of its resignation, then the resigning Agent may, on behalf of the Lenders and the Issuing Banks, appoint a successor Agent which shall be a Lender with an office in New&#160;York, New&#160;York, or an Affiliate of any such Lender.  Upon the acceptance of its appointment as Agent hereunder by a predecessor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the resigning Agent, and the resigning Agent shall be discharged from its duties and obligations hereunder.  The fees payable by the Borrowers to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrowers and such successor.  After any Agent&#8217;s resignation hereunder, the provisions of this Article and Section&#160;9.03 shall continue in effect for the benefit of such resigning Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each Lender acknowledges that it has, independently and without reliance upon the Agents or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.  Each Lender also acknowledges that it will, independently and without reliance upon the Agents or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or related agreement or any document furnished hereunder or thereunder.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">135</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each Lender, by delivering its signature page to this Agreement or to an Assignment and Assumption or any other Loan Document pursuant to which it shall become a Lender hereunder, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be delivered to, or be approved by or satisfactory to, the Administrative Agent or the Lenders on the Restatement Effective Date or the Second Restatement Effective Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Except with respect to the exercise of setoff rights of any Lender in accordance with Section 9.08 or with respect to a Lender&#8217;s right to file a proof of claim in an insolvency proceeding, no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce any Guarantee of the Obligations, it being understood and agreed that all powers, rights and remedies under the Loan Documents may be exercised solely by the Agents on behalf of the Secured Parties in accordance with the terms thereof.  In the event of a foreclosure by an Agent on any of the Collateral pursuant to a public or private sale or other disposition, an Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition, and such Agent, as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Obligations under this Agreement as a credit on account of the purchase price for any collateral payable by the Administrative Agent on behalf of the Secured Parties at such sale or other disposition.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In furtherance of the foregoing and not in limitation thereof, no Interest/Exchange Rate Protection Agreement or Commodity Rate Protection Agreement the obligations under which constitute Obligations will create (or be deemed to create) in favor of any Secured Party that is a party thereto any rights in connection with the management or release of any Collateral or of the obligations of any Loan Party under any Loan Document.  By accepting the benefits of the Collateral, each Secured Party that is a party to any such agreement shall be deemed to have appointed the Administrative Agent to serve as administrative agent and collateral agent under the Loan Documents and agreed to be bound by the Loan Documents as a Secured Party thereunder, subject to the limitations set forth in this paragraph.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Agents shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of either Agent&#8217;s Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall either Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In case of the pendency of any proceeding with respect to any Loan Party under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">136</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">now or hereafter in effect, the Administrative Agent (irrespective of whether the principal of any Loan or any LC Disbursement shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrowers or Guarantors) shall be entitled and empowered (but not obligated) by intervention in such proceeding or otherwise:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, LC Exposure and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Issuing Banks and the Administrative Agent allowed in such judicial proceeding; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such proceeding is hereby authorized by each Lender, each Issuing Bank and each other Secured Party to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, the Issuing Banks or the other Secured Parties, to pay to the Administrative Agent any amount due to it, in its capacity as the Administrative Agent, under the Loan Documents.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Lenders identified on the cover of this Agreement as the &#8220;Co-Syndication Agents&#8221;, the entities identified on the cover of this Agreement as the &#8220;Joint-Lead Arrangers&#8221;, the Lenders identified on the cover of this Agreement as the &#8220;Documentation Agents&#8221; and the Arrangers shall have no rights, powers, obligations, liabilities, responsibilities or duties under this Agreement other than, in the case of any such Lenders, those applicable to all Lenders as such.  Without limiting the foregoing, such persons shall not have or be deemed to have a fiduciary relationship with any Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:11pt;">ARTICLE IX</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Miscellaneous</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Notices.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(bb)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if to GrafTech or Finance, to it at, and if to Luxembourg Parent, Luxembourg Holdco or Swissco, to it in care of Global at, Suite 300 Park Center I, 6100 Oak Tree Boulevard, Independence, OH 44131, Attention of General Counsel (Telecopy No. (216) 676-2462) with a copy in the case of (i) Luxembourg Parent and Luxembourg </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">137</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Holdco, to it at its registered office at, 124, Boulevard de la P&#233;trusse, L &#8211; 2330 Luxembourg (Facsimile No. 011-(352) 44.37.38), and (ii) Swissco, to it at its office at 1 Route de Renens, 1030 Bussigny-pr&#232;s-Lausanne, Switzerland (Facsimile No. 011-(41) 21.821.31.00);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(cc)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if to the Administrative Agent or the Collateral Agent, to it at JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 500 Stanton Christiana Road, Floor 3, Ops 2, Newark, DE, 19713, Attention of Preet Patel (Telecopy No. (302) 634-1521; Fax No. (302) 634-1417), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, 24th Floor, New York, New York 10179, Attention of James Shender (Telecopy No. (212) 270-5100);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(dd)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if to JPMorgan, Floor 6, 25 Bank Street, London, England E14 5JP, Attention of Loans Agency Division (Telecopy No. 44 (0) 207 742 9941; Fax No. 44 (0) 207 777 2360; E-mail: loan_and_agency_london@jpmorgan), with a copy to the Administrative Agent as provided under clause (b) above;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ee)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if to any Swingline Lender, to it at (A) in the case of JPMCB (i) in the case of a Swingline Borrowing denominated in Dollars, JPMorgan Chase Bank, Loan and Agency Services Group, 500 Stanton Christiana Road, Floor 3, Ops 2, Newark, DE, 19713, Attention of Tesfaye Anteneh (Telecopy No. (302) 634-4812; Fax No. (302) 634-1417), with a copy to JPMorgan Chase Bank, 383 Madison Avenue, 24th Floor, New York, New York 10179, Attention of James Shender (Telecopy No. (212) 270-5100, and (ii) in the case of a Swingline Borrowing denominated in euros, JPMorgan Europe Limited, 125 London Wall, London, England EC2Y 5AJ, Attention of Loans Agency Division, Nichola Hall (Telecopy No. 44-207-777-2360), with a copy to the Administrative Agent as provided under clause (b) above and (B) in the case of any other Swingline Lender, its address (or telecopy number) set forth in its Administrative Questionnaire;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ff)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if to JPMCB in its capacity as an Issuing Bank, to it at JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 500 Stanton Christiana Road, Floor 3, Ops 2, Newark, DE, 19713, Attention of Tesfaye Anteneh (Telecopy No. (302) 634-4812; Fax No. (302) 634-1417), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, 24th Floor, New York, New York 10179, Attention of James Shender (Telecopy No. (212) 270-5100); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(gg)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if to any other Lender or Issuing Bank, to it at its address (or telecopy number) set forth in its Administrative Questionnaire.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by the Administrative Agent; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the foregoing shall not apply to notices and other communications pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender and the foregoing shall not apply to service of process pursuant to Section 9.09 and/or applicable law.  Each of the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Administrative Agent and the Borrowers may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that approval of such procedures may be limited to particular notices or communications.  In the case of any notice or communication that cannot be transmitted electronically to any Lender, the Administrative Agent shall promptly upon the request of such Lender provide it with a telecopy or physical copy of such notice or communication.  Notwithstanding any other provision of this Agreement, requests in respect of Borrowings denominated in Euro must be made in writing and may not be made by telephone.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Any party hereto may change its address or telecopy number for notices and other communications hereunder by notice to the other parties hereto.  All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt (except that any notice not given during normal business hours for the recipient shall be deemed to have been received at the opening of business on the next business day for the recipient).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Waivers; Amendments; Loan Modification Offers.</font><font style="font-family:inherit;font-size:12pt;">&#160; %3.No failure or delay by the Administrative Agent, any Issuing Bank or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power.  The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have.  No waiver of any provision of any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph&#160;(b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.  Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">None of this Agreement, any other Loan Document or any provision hereof or thereof may be waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by GrafTech, the Borrowers and the Required Lenders or, in the case of any other Loan Document, pursuant to an agreement or agreements in writing entered into by the Administrative Agent or the Collateral Agent, as the case may be, and the Loan Parties or other Subsidiaries that are parties thereto, in each case (other than in the case of any Guarantee Agreement or Security Document insofar as it relates solely to the Obligations of a Foreign Subsidiary other than Luxembourg Parent, Luxembourg Holdco and Swissco) with the consent of the Required Lenders; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that no such agreement shall (i) increase the Commitment of any Lender without the written consent </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">of such Lender, (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, (iii)&#160;postpone the maturity of any Loan, or the required date of reimbursement of any LC Disbursement, or any date for the payment of any interest or fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv)&#160;change Section&#160;2.18(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section or the percentage set forth in the definition of &#8220;Required Lenders&#8221; or any other provision of any Loan Document specifying the number or percentage of Lenders (or Lenders of any Class) required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder, without the written consent of each Lender (or each Lender of such Class, as the case may be), (vi)&#160;release GrafTech, Finance or any Subsidiary Loan Party from its Guarantee under any Guarantee Agreement (except as expressly provided in such Guarantee Agreement or in this Agreement), or limit its liability in respect of such Guarantee, without the written consent of each Lender, or (vii)&#160;release all or substantially all the Collateral from the Liens of the Security Documents without the written consent of each Lender or (viii)&#160;change any provisions of any Loan Document in a manner that by its terms adversely affects the rights in respect of payments due of Lenders holding Loans of any Class differently than those of Lenders holding Loans of any other Class, without the written consent of Lenders holding a majority in interest of the outstanding Loans and unused Commitments of each affected Class; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Collateral Agent, the Issuing Banks or the Swingline Lenders without the prior written consent of the Administrative Agent, the Collateral Agent, the Issuing Banks or the Swingline Lenders, as the case may be.  Notwithstanding the foregoing, in the case of any amendment, waiver or other modification referred to in this Section 9.02 that shall require the consent of each Lender (or each Lender affected thereby), no consent of a Lender with respect to any such amendment, waiver or other modification of this Agreement or any other Loan Document shall be required if (i) such amendment, waiver or other modification is agreed to in writing by GrafTech, the Borrowers, the Required Lenders and the Administrative Agent (and, if their rights or obligations are affected thereby, the Issuing Banks and the Swingline Lenders) (such agreement, an &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (ii) by the terms of such Amendment, the Commitment of such Lender not consenting to the amendment, waiver or other modification provided for therein shall terminate upon the effectiveness of such Amendment and (iii) at the time such Amendment becomes effective, such Lender not consenting thereto receives payment in full of the principal of and interest accrued on each Loan made by it and all other amounts owing to it or accrued for its account under this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech and the Borrowers may on one or more occasions, by written notice to the Administrative Agent, make one or more offers (each, a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Loan Modification Offer</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to all the Lenders of one or more Classes (each class subject to such </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">140</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">a Loan Modification Offer, an &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Affected Class</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to make one or more Permitted Amendments pursuant to procedures reasonably specified by the Administrative Agent and reasonably acceptable to GrafTech and the Borrowers.  Such notice shall set forth (i) the terms and conditions of the requested Permitted Amendment and (ii) the date on which such Permitted Amendment is requested to become effective (which shall not be less than 10 days nor more than 30 days after the date of such notice, unless otherwise agreed to by the Administrative Agent).  Permitted Amendments shall become effective only with respect to the Loans and Commitments of the Lenders of the Affected Class that accept the applicable Loan Modification Offer (such Lenders, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Accepting Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and, in the case of any Accepting Lender, only with respect to such Lender&#8217;s Loans and Commitment of such Affected Class as to which such Lender&#8217;s acceptance has been made.  A Permitted Amendment shall be effected pursuant to a Loan Modification Agreement executed and delivered by GrafTech, each applicable Accepting Lender and the Administrative Agent; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that no Permitted Amendment shall become effective unless GrafTech and the Borrowers shall have delivered to the Administrative Agent such legal opinions, board resolutions, secretary&#8217;s certificates, officer&#8217;s certificates and other documents as shall reasonably be requested by the Administrative Agent in connection therewith.  The Administrative Agent shall promptly notify each Lender as to the effectiveness of each Loan Modification Agreement.  Each Loan Modification Agreement may, without the consent of any Lender other than the applicable Accepting Lenders, effect such amendments to this Agreement as may be necessary or appropriate, in the opinion of the Administrative Agent, to give effect to the provisions of this Section, including any amendments necessary to treat the applicable Loans and/or Commitments of the Accepting Lenders as a new class of Loans and/or Commitments hereunder; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that, in the case of any Loan Modification Offer, except as otherwise agreed to by the Issuing Banks and the Swingline Lenders, (i) the allocation of the participation exposure with respect to any then-existing or subsequently issued or made Letter of Credit or Swingline Loan as between the commitments of such new Class and the original Commitments shall be made on a ratable basis as between the commitments of such new Class and such original Commitments and (ii) the Revolving Availability Period and the Revolving Maturity Date, as such terms are used in reference to Letters of Credit or Swingline Loans, may not be extended without the prior written consent of the Issuing Banks and the Swingline Lenders, as applicable.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.03.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Expenses; Indemnity; Damage Waiver.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.The Borrowers shall pay (i)&#160;all reasonable out-of-pocket expenses incurred by the Agents and their Affiliates, including the reasonable fees, charges and disbursements of counsel for the Agents and their Affiliates, in connection with the syndication of the credit facilities provided for herein, the preparation and administration of the Loan Documents or any amendments, modifications or waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii)&#160;all reasonable out-of-pocket expenses incurred by any Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii)&#160;all out-of-pocket expenses incurred by the Administrative Agent, the Collateral Agent, any Issuing Bank or any Lender, including the reasonable fees, charges </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">141</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and disbursements of any counsel for the Administrative Agent, the Collateral Agent, any Issuing Bank or any Lender, in connection with the enforcement or protection of its rights in connection with the Loan Documents, including its rights under this Section, or in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during  any workout, restructuring or negotiations in respect of such Loans or Letters of Credit.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(l)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Borrowers shall severally indemnify the Administrative Agent, the Collateral Agent, each Issuing Bank, each Arranger and each Lender, and each Related Party of any of the foregoing persons (each such person being called an &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Indemnitee</font><font style="font-family:inherit;font-size:12pt;">&#8221;) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i)&#160;the execution or delivery of any Loan Document or any other agreement or instrument contemplated hereby, the performance by the parties to the Loan Documents of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii)&#160;any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by any Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii)&#160;any actual or alleged presence or release of Hazardous Materials on or from any Mortgaged Property or any other property currently or formerly owned or operated by GrafTech, a Borrower or any of the other Subsidiaries, or any Environmental Claim related in any way to a Borrower or any of the other Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a third party or by a Borrower or by any other Loan Party); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or wilful misconduct of such Indemnitee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(m)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">To the extent that a Borrower fails to pay any amount required to be paid by it to the Administrative Agent, the Collateral Agent, any Issuing Bank or any Swingline Lender under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent, the Collateral Agent, such Issuing Bank or such Swingline Lender, as the case may be, such Lender&#8217;s pro rata share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Collateral Agent, such Issuing Bank or such Swingline Lender in its capacity as such.  For purposes hereof, a Lender&#8217;s &#8220;pro rata </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">142</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">share&#8221; shall be determined based upon its share of the sum of the total Revolving Exposures, Term Loans and unused Commitments at the time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(n)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">To the extent permitted by applicable law, neither GrafTech nor any Borrower shall assert, and each hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(o)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All amounts due under this Section shall be payable not later than 10&#160;days after written demand therefor.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.04.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Successors and Assigns.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of an Issuing Bank that issues any Letter of Credit), except that none of GrafTech and the Borrowers may assign or otherwise transfer any of its rights or obligations hereunder (or under any Guarantee Agreement) without the prior written consent of each Lender and Issuing Bank (and any attempted assignment or transfer by any of them without such consent shall be null and void).  Nothing in this Agreement, expressed or implied, shall be construed to confer upon any person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of an Issuing Bank that issues any Letter of Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Collateral Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Any Lender may assign to one or more assignees (other than any Ineligible Assignee) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that, in connection with each such assignment, (i)&#160;each of (A) the Administrative Agent, (B) solely in the case of an assignment of a Revolving Commitment, each Issuing Bank and each Swingline Lender and (C) except in the case of an assignment to a Lender or an Affiliate of a Lender, GrafTech must give their prior written consent to such assignment (which consent shall not be unreasonably withheld), (ii) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the assigning Lender&#8217;s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $2,500,000, unless GrafTech and the Administrative Agent otherwise consent, (iii) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender&#8217;s rights and obligations under this Agreement, except that this clause (iii) shall not be construed to prohibit the assignment of a proportionate part of all the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">143</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">assigning Lender&#8217;s rights and obligations in respect of one Class of Commitments or Loans, (iv) any assignment (or other transfer of rights or obligations) to a person that has not represented that it is a Qualifying Bank of any Revolving Commitment or of any Loan to Swissco shall be subject to the prior written consent of Swissco (such consent not to be unreasonably withheld, but it being understood that such consent will be deemed reasonably withheld if such assignment would result in a breach of the Swiss Ten Non-Bank Rule), (v) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500, and (vi)&#160;the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire in which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain MNPI) will be made available and who may receive such information in accordance with the assignee&#8217;s compliance procedures and applicable law, including Federal, State and foreign securities laws; and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that any consent of GrafTech otherwise required under this paragraph shall not be required if an Event of Default has occurred and is continuing.  Subject to acceptance and recording thereof pursuant to paragraph&#160;(d) of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender&#8217;s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections&#160;2.15, 2.16, 2.17 and 9.03).  Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Administrative Agent, acting for this purpose as an agent of the Borrowers, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Register</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  The entries in the Register shall be conclusive, and GrafTech, the Borrowers, the Administrative Agent, the Collateral Agent, the Issuing Banks and the Lenders may treat each person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.  The Register shall be available for inspection by the Borrowers, the Collateral Agent and, as to entries pertaining to it, any Issuing Bank or Lender, at any reasonable time and from time to time upon reasonable prior notice.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the assignee&#8217;s completed </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">144</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph&#160;(b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register.  No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(j)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Any Lender may, without the consent of the Borrowers, the Administrative Agent, the Collateral Agent, any Issuing Bank or any Swingline Lender, sell participations to one or more banks or other entities (a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Participant</font><font style="font-family:inherit;font-size:12pt;">&#8221;) in all or a portion of such Lender&#8217;s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that (i)&#160;such Lender&#8217;s obligations under this Agreement shall remain unchanged, (ii)&#160;such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii)&#160;GrafTech, the Borrowers, the Agents, the Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender&#8217;s rights and obligations under this Agreement, and (iv) in the case of the sale of a participation in a Revolving Commitment or in a Loan to Swissco (other than at any time when an Event of Default under clause (h) or (i) of Article VII has occurred and is continuing), each Participant shall have represented that it is a Qualifying Bank or, if not, the prior written consent of Swissco shall be obtained (such consent not to be unreasonably withheld, but it being understood that such consent will be deemed reasonably withheld if such sale would result in a breach of the Swiss Ten Non-Bank Rule).  For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 2.17(e) with respect to any payments made by such Lender to its Participants.  Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce the Loan Documents and to approve any amendment, modification or waiver of any provision of the Loan Documents; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that affects such Participant.  Subject to paragraph (f) of this Section, each Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.15, 2.16 and 2.17 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph&#160;(b) of this Section.  To the extent permitted by law, each Participant also shall be entitled to the benefits of Section&#160;9.08 as though it were a Lender; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that such Participant agrees to be subject to Section 2.18(c) as though it were a Lender.  Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrowers, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each participant&#8217;s interest in the Loans or other obligations under this Agreement (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Participant Register</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each person whose name is recorded in the Participant Register as the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">145</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(k)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">A Participant shall not be entitled to receive any greater payment under Section 2.15 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrowers&#8217; prior written consent.  A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section&#160;2.17 unless each Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrowers, to comply with Section 2.17(f) as though it were a Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(l)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central bank, and this Section shall not apply to any such pledge or assignment of a security interest; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(m)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">For the avoidance of doubt, and with respect to Swissco, nothing in Section 9.04 restricts any Lender, participant or subparticipant, from entering into any agreement with another person under which payments are made by reference to this Agreement or to any hereto related participation or subparticipation agreement, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;such agreement is not treated as a participation or a subparticipation for the purposes of the Swiss Withholding Tax Rules.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.05.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Survival.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments  delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, the Collateral Agent, any Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated.  The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article&#160;VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">146</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.06.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Integration; Effectiveness.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the Agents or their Affiliates and, to the extent by their terms they survive the execution and delivery of this Agreement, any other separate letter agreements with the Agents or their Affiliates, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.07.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Severability.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.08.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Right of Setoff.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of any Loan Party against any of and all the obligations of the Borrowers and the LC&#160;Subsidiaries now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured.  The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.09.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governing Law; Jurisdiction; Consent to Service of Process.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.This Agreement shall be construed in accordance with and governed by the law of the State of New York.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each of GrafTech and the Borrowers hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding (i) arising out of or relating to this Agreement, (ii) involving any purported cause of action asserted against any Agent, Arranger or Lender or any Related Party of any of the foregoing or (iii) for recognition or enforcement of any judgment in any such action or proceeding, 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&#160;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 Agreement or any other Loan Document shall affect any right that the </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">147</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Administrative Agent, the Collateral Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement or any other Loan Document against GrafTech, any Borrower or its properties in the courts of any jurisdiction.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech and each Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this Section.  Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section&#160;9.01.  Nothing in this Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.10.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">WAIVER OF JURY TRIAL.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN  ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A)&#160;CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)&#160;ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.11.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Headings.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.12.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Confidentiality.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each of the Administrative Agent, the Collateral Agent, the Issuing Banks and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a)&#160;to its and its Affiliates&#8217; directors, officers, employees and agents, including accountants, legal counsel, credit insurance providers and other advisors (it being understood that the persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b)&#160;to the extent requested by any regulatory authority, (c)&#160;to the extent </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">148</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">required by applicable laws or regulations or by any subpoena or similar legal process, (d)&#160;to any other party to this Agreement, (e)&#160;in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f)&#160;subject to an agreement containing provisions substantially the same as those of this Section, (i) to any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, or (ii) any actual or prospective counterparty (or its advisors) to any securitization, swap or derivative transaction relating to GrafTech, a Borrower or any other Subsidiary and its obligations, (g)&#160;with the consent of any Loan Party or (h)&#160;to the extent such Information (i)&#160;becomes publicly available other than as a result of a breach of this Section or (ii)&#160;becomes available to the Administrative Agent, any Issuing Bank or any Lender on a nonconfidential basis from a source other than GrafTech, a Borrower, any of the other Subsidiaries or any person acting on behalf of any of them.  For the purposes of this Section, &#8220;Information&#8221; shall mean all information received from GrafTech, a Borrower, any of the other Subsidiaries or any person acting on behalf of any of them relating to GrafTech, a Borrower or any of the other Subsidiaries or its business, other than any such information that is available to the Administrative Agent, any Issuing Bank or any Lender on a nonconfidential basis prior to disclosure by GrafTech, a Borrower, any of the other Subsidiaries or any person acting on behalf of any of them and other than information pertaining to this Agreement routinely provided by arrangers to data service providers, including league table providers, that serve the lending industry; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that, in the case of information received from GrafTech, a Borrower, any of the other Subsidiaries or any person acting on behalf of any of them after the Restatement Effective Date, such information is clearly identified at the time of delivery as confidential.  Any person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such person has exercised the same degree of care to maintain the confidentiality of such Information as such person would accord to its own confidential information.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.13.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Interest Rate Limitation.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Charges</font><font style="font-family:inherit;font-size:12pt;">&#8221;), shall exceed the maximum lawful rate (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Maximum Rate</font><font style="font-family:inherit;font-size:12pt;">&#8221;) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender.</font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">149</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.14.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Release of Liens and Guarantees.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;In the event that any Loan Party or other Subsidiary disposes of any asset (other than to GrafTech or a Subsidiary) in a transaction not prohibited by Section&#160;6.05, the Agents are hereby directed and authorized to take such action and execute such documents as a Borrower may reasonably request, at such Borrower&#8217;s sole expense, to release any Lien on such asset created by any Loan Document and, if the asset disposed of is a portion of the Capital Stock of any Guarantor that is owned by the Loan Parties and the Subsidiaries that will result in such Guarantor ceasing to be a Subsidiary after giving effect to such disposition, to release any Guarantee of such Guarantor under any Guarantee Agreement.  Any representation, warranty, covenant or condition contained in any Loan Document relating to any such Capital Stock, asset or Subsidiary shall no longer be deemed to be made or applicable once such Capital Stock or asset is disposed of as described above.  In addition, the Administrative Agent and the Collateral Agent agree to take such actions as are reasonably requested by a Borrower and at such Borrower&#8217;s expense to terminate the Liens and security interests created by the Loan Documents when all the Obligations have been paid in full and all Letters of Credit and Commitments have been terminated or have expired.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.15.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Conversion of Currencies.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The obligations of the Borrowers in respect of any sum due to any party hereto or any holder of the obligations owing hereunder (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Applicable Creditor</font><font style="font-family:inherit;font-size:12pt;">&#8221;) shall, notwithstanding any judgment in a currency (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Judgment Currency</font><font style="font-family:inherit;font-size:12pt;">&#8221;) other than the currency in which such sum is stated to be due hereunder (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement Currency</font><font style="font-family:inherit;font-size:12pt;">&#8221;), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, each applicable Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss.  The obligations of the Borrowers contained in this Section 9.15 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.16.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">USA Patriot Act</font><font style="font-family:inherit;font-size:12pt;">.</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#32;</font><font style="font-family:inherit;font-size:12pt;">&#32;Each Lender hereby notifies the Borrowers that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies each Borrower and Guarantor, which information includes the name and address of such Borrower or Guarantor and other </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">150</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">information that will allow such Lender to identify such Borrower or Guarantor in accordance with its requirements.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.17.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Fiduciary Relationship.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;GrafTech and each Borrower, on behalf of itself and its subsidiaries, agrees that in connection with all aspects of the transactions contemplated hereby and any communications in connection therewith, GrafTech, the Borrowers, the other Subsidiaries and their Affiliates, on the one hand, and the Administrative Agent, the Lenders, the Issuing Banks and their Affiliates, on the other hand, will have a business relationship that does not create, by implication or otherwise, any fiduciary duty on the part of the Administrative Agent, the Lenders, the Issuing Banks or their Affiliates, and no such duty will be deemed to have arisen in connection with any such transactions or communications.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.18.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Non-Public Information; Platform.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;%3.Each Lender acknowledges that all information, including requests for waivers and amendments, furnished by GrafTech, any Borrower or the Administrative Agent pursuant to or in connection with, or in the course of administering, this Agreement will be syndicate-level information, which may contain MNPI.  Each Lender represents to GrafTech, the Borrowers and the Administrative Agent that (i) it has developed compliance procedures regarding the use of MNPI and that it will handle MNPI in accordance with such procedures and applicable law, including Federal, state and foreign securities laws, and (ii) it has identified in its Administrative Questionnaire a credit contact who may receive information that may contain MNPI in accordance with its compliance procedures and applicable law, including Federal, state and foreign securities laws.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">GrafTech, each Borrower and each Lender acknowledges that, if information furnished by GrafTech or any Borrower pursuant to or in connection with this Agreement is being distributed by the Administrative Agent through IntraLinks/IntraAgency, SyndTrak or another website or other information platform (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Platform</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (i) the Administrative Agent may post any information that GrafTech or a Borrower has indicated as containing MNPI solely on that portion of the Platform as is designated for Private Side Lender Representatives and (ii) if GrafTech or a Borrower has not indicated whether any information furnished by it pursuant to or in connection with this Agreement contains MNPI, the Administrative Agent reserves the right to post such information solely on that portion of the Platform as is designated for Private Side Lender Representatives.  GrafTech and each Borrower agrees to clearly designate all information provided to the Administrative Agent by or on behalf of GrafTech or such Borrower that is suitable to be made available to Public Side Lender Representatives, and the Administrative Agent shall be entitled to rely on any such designations by GrafTech and the Borrowers without liability or responsibility for the independent verification thereof. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Platform is provided &#8220;as is&#8221; and &#8220;as available&#8221;.  Neither the Administrative Agent nor any of its Related Parties warrants, or shall be deemed to warrant, the adequacy of the Platform and each expressly disclaims liability for errors or </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">151</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">omissions in communications resulting from the use of the Platform.  No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made, or shall be deemed to be made, by the Administrative Agent or any of its Related Parties in connection with the Platform.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.19.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Excluded Swap Obligations.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;(a) Notwithstanding any provision of this Agreement or any other Loan Document, no Guarantee by any Subsidiary Loan Party under any Loan Document shall include a Guarantee of any Obligation that, as to such Subsidiary Loan Party, is an Excluded Swap Obligation, and no Collateral provided by any Subsidiary Loan Party shall secure any Obligation that, as to such Subsidiary Loan Party, is an Excluded Swap Obligation.  In the event that any payment is made pursuant to any Guarantee by, or any amount is realized from Collateral of, any Subsidiary Loan Party as to which any Obligations are Excluded Swap Obligations, such payment or amount shall be applied to pay the Obligations of such Loan Party as otherwise provided herein and in the other Loan Documents without giving effect to such Excluded Swap Obligations, and each reference in this Agreement or any other Loan Document to the ratable application of such amounts as among the Obligations or any specified portion of the Obligations that would otherwise include such Excluded Swap Obligations shall be deemed so to provide.</font></div><div style="line-height:120%;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)   Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time to enable each other Loan Party to honor all of its obligations under the Loan Documents in respect of Swap Obligations (subject to any limitations on its Guarantees under the Loan Documents).  The obligations of each Qualified ECP Guarantor under this Section shall remain in full force and effect until its Guarantees under the Loan Documents are released.  Each Qualified ECP Guarantor intends that this Section shall constitute a &#8220;keepwell, support, or other agreement&#8221; for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)  The following terms shall for purposes of this Section have the meanings set forth below:</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Commodity Exchange Act</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean the Commodity Exchange Act (7 U.S. C. &#167; et seq.), as amended from time to time, and any successor statute.</font></div><div style="line-height:120%;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Excluded Swap Obligation</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Subsidiary Loan Party, any Swap Obligation if and to the extent that the Guarantee by such Subsidiary Loan Party of, or the grant by such Subsidiary Loan Party of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Subsidiary Loan Party&#8217;s failure for any reason to constitute an &#8220;eligible </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">152</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">contract participant&#8221; as defined in the Commodity Exchange Act at the time the Guarantee of such Subsidiary Loan Party becomes effective with respect to such related Swap Obligation.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swap Obligation</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, with respect to any Subsidiary Loan Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a &#8220;swap&#8221; within the meaning of Section 1a(47) of the Commodity Exchange Act.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Qualified ECP Guarantor</font><font style="font-family:inherit;font-size:12pt;">&#8221; shall mean, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 or that otherwise constitutes an &#8220;eligible contract participant&#8221; under the Commodity Exchange Act or any regulations promulgated thereunder at the time such Swap Obligation is incurred (including as a result of the agreement in this Section or any other Guarantee or other support agreement in respect of the obligations of such Loan Party by another Person that constitutes an &#8220;eligible contract participant&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.20.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Novation.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;This Agreement shall not extinguish the Obligations for the payment of money outstanding under the Existing Credit Agreement or any other Loan Document or discharge or release the Lien or priority of any Loan Document or any other security therefor or any guarantee thereof, and the Liens and security interests in favor of the Collateral Agent for the benefit of the Secured Parties securing payment of the Obligations are in all respects continuing and in full force and effect with respect to all Obligations (or, in the case of Pledge Agreements entered into by Foreign Subsidiaries, the Obligations secured thereby).  Nothing herein contained shall be construed as a substitution or novation of the Obligations outstanding under the Existing Credit Agreement or any other Loan Document or instruments guaranteeing or securing the same, which shall remain in full force and effect, except as modified hereby or by any other instrument executed concurrently herewith.  Nothing expressed or implied in this Agreement shall be construed as a release or other discharge of GrafTech, Luxembourg Parent or any Borrower under the Existing Credit Agreement or any other Loan Party under any Loan Document from any of its obligations and liabilities thereunder.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.21.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Class Oppression.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;None of this Agreement, any other Loan Document or any provision hereof or thereof may be waived, amended or modified if such waiver, amendment or modification would change any provision of this Agreement or any Loan Document in a manner that by its terms adversely affects the rights in respect of payments due to Lenders holding Loans or Commitments of any Class differently than those holding Loans or Commitments of any other Class, without the written consent of Lenders representing a Majority in Interest of each differently and adversely affected Class.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 9.22.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Illegality.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;If, in any applicable jurisdiction, the Administrative Agent, any Issuing Bank or any Lender determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted that it is </font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">153</font></div></div><hr style="page-break-after:always"><a name="sEFD779E6F10994C186E4DC86233703D3"></a><div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">unlawful (either, an &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">illegality</font><font style="font-family:inherit;font-size:12pt;">&#8221;), for the Administrative Agent, any Issuing Bank or any Lender (any such Person, an &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">affected party</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to (i) perform any of its obligations hereunder or under any other Loan Document, (ii) to fund or maintain its participation in any Loan or (iii) issue, make, maintain or fund any Loan or Letter of Credit to or for the benefit of any Borrower that is organized under the laws of a jurisdiction other than the United States, a State thereof or the District of Columbia, then the affected party shall promptly give notice to the to the Administrative Agent (unless such Person is the Administrative Agent) and the Borrowers of the illegality with sufficient specificity to identify the illegality and the date such illegality becomes effective or applicable to the affected party and from the date set forth in such notice as the effective date of such illegality until the date such notice is revoked by the affected party, any obligation of such affected party to perform such obligation or to issue, make, maintain or fund any such Loan or Letter of Credit shall be suspended, and to the extent required by applicable law, cancelled.  Upon receipt of such notice, the Loan Parties shall, (A) promptly repay such Person&#8217;s participation in any Loan or other Obligation subject to such illegality (it being understood that if the last day of any applicable grace period permitted by applicable law for such repayment shall occur after the delivery of such notice, then &#8220;promptly&#8221; shall mean any day on or prior to such last day) and (B) take all reasonable actions requested by such Person to mitigate or avoid such illegality.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[Remainder of page intentionally left blank]</font></div><a name="s354863752B39545CC8D0DC8624FB95FD"></a><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written.</font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH INTERNATIONAL LTD.,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH FINANCE INC.,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div 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style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" 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style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div 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style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><a name="sE06C22B4A1DD6FE61544DC8625492E4F"></a><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH S.P.A.,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">as LC Subsidiary,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><a name="s331D5207C8683DB48CECDC862568004A"></a><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SEADRIFT COKE L.P.,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">as LC Subsidiary,</font></div><div style="padding-bottom:16px;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by GRAFTECH SEADRIFT HOLDING CORP., as General Partner</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;padding-left:144px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:16px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH USA LLC,</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;">as LC Subsidiary,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   </font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">154</font></div></div>	</body>
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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit10-22015usreaffirma.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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		<title>Exhibit10-22015USReaffirmationAgreement27Feb2015</title>
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<a name="s2EA56AFC7177487BFA42DC88B919AF6E"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.2</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2015 U.S. REAFFIRMATION AGREEMENT dated as of February 27, 2015 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirmation</font><font style="font-family:inherit;font-size:12pt;">&#8221;), among GRAFTECH INTERNATIONAL LTD. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GRAFTECH FINANCE INC. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Finance</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GRAFTECH LUXEMBOURG I S.&#192;.R.L. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GRAFTECH LUXEMBOURG II S.&#192;.R.L. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Holdco</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GRAFTECH SWITZERLAND S.A. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swissco</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the SUBSIDIARIES of GrafTech identified on the signature pages hereto (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirming Subsidiaries</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with GrafTech, Luxembourg Parent, Finance, Luxembourg Holdco and Swissco, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirming Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and JPMORGAN CHASE BANK, N.A. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">JPMCB</font><font style="font-family:inherit;font-size:12pt;">&#8221;), as the Administrative Agent and Collateral Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Capitalized terms used but not defined herein shall have the meanings given to them in the Second Amended and Restated Credit Agreement dated as of February 27, 2015, among GrafTech, Finance, Luxembourg Parent, Luxembourg Holdco, Swissco, the LC Subsidiaries party thereto, the lenders party thereto and JPMCB, as Administrative Agent, Collateral Agent, Issuing Bank and Swingline Lender (as so amended and restated, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Second Restated Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), amending and restating the Amended and Restated Credit Agreement dated as of April 23, 2014, among GrafTech, Finance, Swissco, the LC Subsidiaries party thereto, the lenders party thereto and JPMCB, as Administrative Agent, Collateral Agent, Issuing Bank and Swingline Lender (as amended, supplemented or otherwise modified prior to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, GrafTech, Luxembourg Parent, Finance, Luxembourg Holdco, Swissco, the Reaffirming Subsidiaries and the Collateral Agent have entered into the Security Documents and certain other Loan Documents, which include, (a) the Second Amended and Restated Guarantee Agreement dated as of April 20, 2012, by GrafTech, Finance and the subsidiaries of GrafTech party thereto (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restated Guarantee Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (b) the Amended and Restated Intellectual Property Security Agreement dated as of April 28, 2010, among GrafTech, GrafTech Global Enterprises Inc., Finance, the other Subsidiaries of GrafTech from time to time party thereto and the Collateral Agent (as amended, supplemented or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restated IP Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (c) the Pledge Agreement dated as of March 26, 2012, between Luxembourg Parent and the Collateral Agent and governed by New York law (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Parent Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (d) the Pledge Agreement dated as of March 30, 2012, between Luxembourg Holdco and the Collateral Agent and governed by New York law  (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Holdco Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (e) the European Guarantee and Luxembourg Security Agreement dated as of April 20, 2012, among Luxembourg Parent, Luxembourg Holdco, Swissco and the Collateral Agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">European Guarantee and Luxembourg Security Agreement Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (f) the Mortgages described on Schedule II attached hereto (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Mortgages</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (g) the Second Amended and Restated Indemnity, Subrogation and Contribution Agreement dated as of April 20, 2012 among GrafTech, Finance, the other Domestic Subsidiaries from time to time party thereto and the Collateral Agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restated Indemnity Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) (h) the Third Amended and Restated Security Agreement dated as of April 23, 2014 among GrafTech, Finance, the subsidiary grantors from time to time party thereto and the Collateral Agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restated Security Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (i) the Third Amended and Restated Pledge Agreement dated as of April 23, 2014 among GrafTech, Finance, the subsidiary pledgors from time to time party thereto and the Collateral Agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restated Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (j) the Second Amended and Restated Pledge Agreement dated as of April 23, 2014 among Swissco and the Collateral Agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Restated Swissco Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and (k) each other Guarantee or Security Document to which any of the Reaffirming Subsidiaries is party entered into pursuant to the Existing Credit Agreement, other than any such Guarantee or Security Document being amended and restated in connection with the effectiveness of the Second Restated Credit Agreement (such Guarantees and Security Documents, together with the Restated Guarantee Agreement, the Restated IP Agreement, the Luxembourg Parent Pledge Agreement, the Luxembourg Holdco Pledge Agreement, the European Guarantee and Luxembourg Security Agreement, the Restated Indemnity Agreement, the Restated Security Agreement, the Restated Pledge Agreement, the Mortgages and the Restated Swissco Pledge Agreement being collectively referred to as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirmed Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221;), pursuant to which the applicable Reaffirming Parties agreed to guarantee and secure, subject to the terms and conditions set forth therein, all of the Obligations (or, in the case of the Luxembourg Parent Pledge Agreement and the Luxembourg Holdco Pledge Agreement, all of the Foreign Obligations (as defined therein));</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS,</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">the parties hereto intend that (a) the Obligations shall be in all respects continuing under the Second Restated Credit Agreement on the terms set forth therein (including the Obligations in respect of the Term Commitments and Term Loans newly established therein and the Revolving Commitments and Revolving Loans, as modified therein), and (b) the Reaffirmed Documents and the Collateral, or words of similar import (as defined in any applicable Security Document), and all other assets of the Reaffirming Parties subject to the Liens of the Reaffirmed Documents, shall continue to secure, support and otherwise benefit the Obligations (or, (x) in the case of the Luxembourg Parent Pledge Agreement and the Luxembourg Holdco Pledge Agreement, the Foreign Obligations (as defined therein) and (y) in the case of the Restated Swissco Pledge Agreement, the Swissco Obligations) in respect of the Second Restated Credit Agreement;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, each Reaffirming Party expects to realize substantial direct and indirect benefits as a result of the Second Restated Credit Agreement becoming effective; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the execution and delivery of this Reaffirmation is a condition precedent to the effectiveness of the Second Restated Credit Agreement;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">ARTICLE I</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Reaffirmation</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirming Subsidiaries.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each Reaffirming Subsidiary hereby acknowledges its receipt of a copy of the Second Restated Credit Agreement and its review of the terms and conditions thereof and consents to the terms and conditions of the Second Restated Credit Agreement and the transactions contemplated thereby.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 1.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirming Parties.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each Reaffirming Party hereby (a) affirms and confirms its guarantees, pledges, grants and other commitments under the Reaffirmed Documents to which it is a party, as applicable, (b)&#160;affirms and confirms its obligations to indemnify and other commitments and obligations under the Reaffirmed Documents to which it is a party, as applicable, (c) agrees that, notwithstanding the effectiveness of the Second Restated Credit Agreement, (i) the Reaffirmed Documents to which it is a party shall continue to be in full force and effect and (ii) all guarantees, pledges, grants and other commitments thereunder shall continue to be in full force and effect and shall accrue to the benefit of the Secured Parties, (d) confirms and agrees that the &#8220;Obligations&#8221; (or, (x) in the case of the Luxembourg Parent Pledge Agreement and the Luxembourg Holdco Pledge Agreement, the &#8220;Foreign Obligations&#8221; (as defined therein) and (y) in the case of the Restated Swissco Pledge Agreement, the &#8220;Swissco Obligations&#8221;) outstanding under and as defined in the Second Restated Credit Agreement after giving effect to the amendment and restatement of the Existing Credit Agreement as the Second Restated Credit Agreement, shall constitute &#8220;Obligations&#8221; (or, in the case of the Luxembourg Parent Pledge Agreement and the Luxembourg Holdco Pledge Agreement, &#8220;Foreign Obligations&#8221; (as defined therein)) or such words of similar import under the respective Reaffirmed Documents to which it is a party and (e) agrees that, on and after the Second Restatement Effective Date, (i) each reference to the &#8220;Credit Agreement&#8221; in any Loan Document shall be deemed to be a reference to the Second Restated Credit Agreement, (ii) each reference in the Restated IP Agreement to Article IV, V, VI, VII, VIII, IX or X of the &#8220;Credit Agreement&#8221; shall be deemed to be a reference to Article III, IV, V, VI, VII, VIII or IX, respectively, of the Second Restated Credit Agreement, and references to Section numbers in such Articles of the &#8220;Credit Agreement&#8221;, and to Schedules identified by such Section numbers, will be deemed changed to correspond to the numbers of the Articles of the Second Restated Credit Agreement in which such Sections appear, and (iii) each reference to &#8220;Obligations&#8221; or &#8220;US Secured 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confirms and agrees that (a) the term &#8220;Swissco Obligations&#8221; in any Loan Document shall be deemed to be a reference to the term &#8220;Swissco Obligations&#8221; as defined in the Second Restated Credit Agreement and (b) Schedule III attached hereto shall be deemed to replace Schedules I and II to the Luxembourg Parent Pledge Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">ARTICLE II</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Representations and Warranties</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each Reaffirming Party hereby represents and warrants to each Secured Party as follows, which representations and warranties shall survive execution and delivery of this Reaffirmation:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Organization.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Each Reaffirming Party is duly organized, validly existing and (to the extent the concept is applicable in such jurisdiction) in good standing under the laws of the jurisdiction of its organization, has all power and authority and all material Governmental Approvals required for the ownership and operation of its properties and the conduct of its business as now conducted and as proposed to be conducted and, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, is qualified to do business, and is in good standing, in every jurisdiction where such qualification is required.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Authorization; Enforceability.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;This Reaffirmation (a) is within such Reaffirming Party&#8217;s corporate or other organizational powers and has been duly authorized by all necessary corporate or other organizational and, if required, stockholder or other equityholder action of each Reaffirming Party, (b) has been duly executed and delivered by each Reaffirming Party and (c) constitutes a legal, valid and binding obligation of each Reaffirming Party, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors&#8217; rights generally and to general principles of equity, regardless of whether considered in a proceeding in equity or at law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.03.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">&#32;</font><font 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Nothing herein contained shall be construed as a substitution or novation of the Obligations outstanding under the Existing Credit Agreement or any other Loan Document or instruments guaranteeing or securing the same, which shall remain in full force and effect, except as modified hereby or by the Second Restated Credit Agreement or any other instrument executed concurrently herewith.  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Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:    Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:    Attorney-in-Fact </font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><a name="s899D59623473F077E03FDC88B958E487"></a><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:8px;padding-right:2px;"><div style="padding-bottom:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRAFTECH LUXEMBOURG II S.&#192;.R.L.,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:8px;padding-right:2px;"><div style="padding-bottom:8px;text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:    Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:    Attorney-in-Fact </font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:8px;padding-right:2px;"><div style="padding-bottom:8px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">EACH OF THE REAFFIRMING SUBSIDIARIES LISTED ON SCHEDULE I HERETO,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:8px;padding-right:2px;"><div style="padding-bottom:8px;text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:    Quinn J. Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:    Attorney-in-Fact </font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:32px;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:288px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:50%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="16%"></td><td width="84%"></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">JPMORGAN CHASE BANK, N.A.,  <br>AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">by</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;"><div style="padding-bottom:16px;text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Peter Predun</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:   Peter Predun</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:   Executive Director</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:32px;text-align:left;text-indent:317px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div></div>	</body>
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit10-32015luxembourgr.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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		<title>Exhibit10-32015LuxembourgReaffirmationAgreement27Feb2015</title>
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<a name="sBB13EEC0F33BBA9387A5DC8A66A637E3"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.3</font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:144px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2015  LUXEMBOURG REAFFIRMATION AGREEMENT dated as of February 27, 2015 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Reaffirmation</font><font style="font-family:inherit;font-size:12pt;">&#8221;), among GRAFTECH INTERNATIONAL HOLDINGS INC. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GIH</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GRAFTECH LUXEMBOURG I S.&#192; R.L. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221; and, together with GIH and Luxembourg Parent, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirming Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and JPMORGAN CHASE BANK, N.A., as the Administrative Agent and Collateral Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Capitalized terms used but not defined herein shall have the meanings given to them in the Second Amended and Restated Credit Agreement dated as of February 27, 2015, among GrafTech International Ltd. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GrafTech</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GrafTech Finance Inc. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Finance</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Luxembourg Parent, GrafTech Luxembourg S.&#224; r.l. II, GrafTech Switzerland S.A. (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Swissco</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the LC Subsidiaries party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent, Issuing Bank and Swingline Lender (as so amended and restated, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Second Restated Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), amending and restating the Amended and Restated Credit Agreement dated as of April 23, 2014, among GrafTech, Finance, Swissco, the LC Subsidiaries party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent, Issuing Bank and Swingline Lender (as amended, supplemented or otherwise modified prior to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Existing Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, pursuant to the First Amendment dated as of November 19, 2014 to the Existing Credit Agreement, the Commitments were reduced to $400,000,000.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Reaffirming Parties and the Collateral Agent previously entered into the Security Documents and certain other Loan Documents, which include, (a) the Share Pledge Agreement dated as of March 26, 2012, between GIH and the Collateral Agent, governed by Luxembourg law (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">GIH Share Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and relating to the pledge of 58,061,755 shares (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">parts sociales</font><font style="font-family:inherit;font-size:12pt;">) of Luxembourg Parent held by GIH and representing 100% of the issued share capital of Luxembourg Parent and (b) the Share Pledge Agreement dated as of March 26, 2012, between Luxembourg Parent and the Collateral Agent, governed by Luxembourg law (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Parent Share Pledge Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and relating to the pledge of 57,580,400 shares (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">parts sociales</font><font style="font-family:inherit;font-size:12pt;">)of GrafTech Luxembourg II S.&#224; r.l (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Luxembourg Holdco</font><font style="font-family:inherit;font-size:12pt;">&#8221;) held by Luxembourg Parent and representing 100% of the issued share capital of Luxembourg Holdco;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the GIH Share Pledge Agreement and the Parent Share Pledge Agreement (together being referred to as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reaffirmed Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221;) are still in force and remain effective;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, pursuant to the Second Restated Credit Agreement, the parties thereto have agreed (i) to establish a new term facility in an aggregate principal amount of $50,000,000 to be made available only to Finance, (ii) to provide for certain modifications in the interest rate margins and fees under the Existing Credit Agreement, (iii) to adjust the maximum levels permitted under the GrafTech Senior Secured Leverage Ratio, (iv) to provide for the naming of additional Swingline Lenders and to make certain other modifications to the swingline facility and (v) to amend certain other provisions of the Existing Credit Agreement as set forth in the Second Restated Credit Agreement;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS,</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">the parties hereto intend that (a) the Obligations shall be in all respects continuing under the Second Restated Credit Agreement on the terms set forth therein (including such Obligations in respect of the Term Commitments and Term Loans newly established thereunder and the Revolving Loans and the Revolving Commitments, as modified therein), and (b) the Reaffirmed Documents and the Collateral, or words of similar import (as defined in any applicable Reaffirmed Document), and all other assets of the Reaffirming Parties subject to the Liens of the Reaffirmed Documents, shall continue to secure, support and otherwise benefit (i) in the case of the GIH Share Pledge Agreement, the CFC Secured Obligations and the US Secured Obligations, as more fully explained under Article I below, (as both expressions are defined therein and, in the case of the US Secured Obligations, including the Obligations in respect of the Term Commitments and Term Loans newly established thereunder and the Revolving Loans and the Revolving Commitments, as modified therein), and (ii) in the case of the Parent Share Pledge Agreement the CFC Secured Obligations (as defined therein);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, each Reaffirming Party expects to realize substantial direct and indirect benefits as a result of the Second Restated Credit Agreement becoming effective; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the execution and delivery of this Luxembourg Reaffirmation is a condition precedent to the effectiveness of the Second Restated Credit Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">ARTICLE I</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Reaffirmation</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Except to the extent unenforceable or prohibited by applicable law, each Reaffirming Party hereby acknowledges its receipt of a copy of the Second Restated Credit Agreement and its review of the terms and conditions thereof and consents to the terms and conditions of the Second Restated Credit Agreement and the transactions contemplated thereby and each Reaffirming Party hereby (a) affirms and confirms its guarantees, pledges, grants and other commitments under the Reaffirmed Documents to which it is a party, as applicable, (b)&#160;affirms and confirms its obligations to indemnify and other commitments and obligations under the Reaffirmed Documents to which it is a party, as applicable, and (c) agrees that, notwithstanding the effectiveness of the Second Restated Credit Agreement, (i) the Reaffirmed Documents to which it is a party shall continue to be in full force and effect, and (ii) all guarantees, pledges, grants and other commitments thereunder shall continue to be in full force and effect and shall accrue to the benefit of the Secured Parties.  </font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each of the Reaffirming Parties hereby confirms and agrees that (a) in the case of the GIH Share Pledge Agreement (i) 35% of the units owned from time to time by GIH in Luxembourg Parent shall secure the CFC Secured Obligations (as defined therein) and (ii) 65% of the units owned from time to time by GIH in Luxembourg Parent shall secure the US Secured Obligations and the CFC Secured Obligations (both as defined therein), in each case subject to the terms of such pledge, and accordingly shall, inter alia, secure the Term Loans and the Obligations in respect of the Term Commitments and the Revolving Loans and Revolving Commitments, and (b) in the case of the Parent Share Pledge Agreement, 100% of the units owned from time to time by Luxembourg Parent in Luxembourg Holdco shall secure the CFC Secured Obligations (as defined therein), subject to the terms of such pledge, and in the case of each of the US Secured Obligations and the CFC Secured Obligations, as outstanding under the Second Restated Credit Agreement after giving effect to the amendment and restatement of the Existing Credit Agreement as the Second Restated Credit Agreement.  The Reaffirming Parties agree that the US Secured Obligations shall include, in addition to the Revolving Loans and the Revolving Commitments, the Term Loans and the Obligations in respect of the Term Commitments and that the security interest granted by the GIH Share Pledge Agreement under (a) (ii) above, with respect to the US Secured Obligations, shall cover, </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">pari passu</font><font style="font-family:inherit;font-size:12pt;">, on the one hand, the Revolving Loans and the Revolving Commitments, and on the other hand, the Term Loans and the Term Commitments.  Each of the Reaffirming Parties hereby agrees that, on and after the Restatement Effective Date, each reference to the &#8220;Credit Agreement&#8221; in any Loan Document shall be deemed to be a reference to the Second Restated Credit Agreement and each reference to &#8220;Obligations&#8221; or &#8220;US Secured Obligations&#8221; shall include a reference to the Obligations in respect of the Term Commitments and Term Loans newly established under the Second Restated Credit Agreement and the Revolving Loans and Revolving Commitments, as modified under the Second Restated Credit Agreement).</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">ARTICLE II</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160; <br></font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;"><br>Representations and Warranties</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Each Reaffirming Party hereby represents and warrants to each Secured Party as follows, which representations and warranties shall survive execution and delivery of this Luxembourg Reaffirmation:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.01.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Organization.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;GIH is in good standing under the laws of the State of Delaware and each Reaffirming Party is duly organized, validly existing, has all power and authority and all material Governmental Approvals required for the ownership and operation of its properties and the conduct of its business as now conducted and as proposed to be conducted and (except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect) is qualified to do business in every jurisdiction where such qualification is required.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECTION 2.02.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Authorization; 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Nothing herein contained shall be construed as a substitution or novation of the Obligations outstanding under the Existing Credit Agreement or any other Loan Document or instruments guaranteeing or securing the same, which shall remain in full force and effect, except as modified hereby or by the Restatement Agreement or any other instrument executed concurrently herewith.  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R.L.,</font></div></td></tr><tr><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">/s/ Quinn J. 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Coburn</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:48px;text-indent:-48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:    Attorney-in-Fact</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div><div style="line-height:100%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div>	</body>
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<TYPE>EX-99.1
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		<title>CA Amend Feb2015 Press Release EX99-1</title>
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<a name="s7669ca32281447c1bc5351d555473861"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">EXHIBIT 99.1</font></div></div><br><div style="line-height:120%;text-align:left;"><img src="filinglogo.jpg" style="height:40px;width:344px;"></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">CONTACT:</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Kelly Taylor</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Director, Investor Relations</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">(216) 676-2000</font></div><div style="line-height:174%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">GrafTech Completes Credit Facility Amendment Increasing Liquidity </font></div><div style="line-height:174%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Arranges a New $40 Million Term Loan Facility</font></div><div style="line-height:232%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">INDEPENDENCE, Ohio - March 2, 2015 - GrafTech International Ltd. (NYSE:GTI) today announced that it has amended its revolving credit facility to provide additional flexibility, resulting in access to the full $400 million revolver.  In addition, the Company established a new $40 million senior secured term loan facility.  </font></div><div style="line-height:232%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:232%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The primary purpose of the credit facility amendment and the term loan facility is to further enhance GrafTech&#8217;s capital structure and to provide more than ample liquidity to repay its $200 million senior subordinated notes due in November 2015 while comfortably funding its ongoing operations and initiatives.  The term loan is a delayed draw facility, which is to be used in connection with the repayment of the Company&#8217;s senior subordinated notes.  The term loan facility was provided by a group of financial institutions led by J.P. Morgan and Bank of America.  </font></div><div style="line-height:232%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:232%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">Joel Hawthorne, Chief Executive Officer of GrafTech, commented, &#8220;By proactively arranging this financing we have expanded our liquidity to address current debt maturities and enhanced our capital structure moving forward.  This, together with our previously announced cost savings initiatives and operational improvements, positions us well as we execute on our strategic plans.&#8221;    </font></div><div style="line-height:232%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s7669ca32281447c1bc5351d555473861"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">EXHIBIT 99.1</font></div></div><br><div style="line-height:232%;text-align:left;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;">The interest rate on the facilities is a spread over the London Interbank Offered Rate (&#8220;LIBOR&#8221;) and will vary based on leverage.  The initial interest rate at closing is LIBOR plus 225 basis points. </font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">GrafTech International is a global company that has been redefining limits for more than 125 years. We offer innovative graphite material solutions for our customers in a wide range of industries and end markets, including steel manufacturing, advanced energy applications and latest generation electronics. GrafTech operates 18 principal manufacturing facilities on four continents and sells products in over 70 countries. Headquartered in Independence, Ohio, GrafTech employs approximately 2,400 people. For more information, call 216-676-2000 or visit www.GrafTech.com.</font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">NOTE ON FORWARD-LOOKING STATEMENTS:  This news release and related discussions may contain forward-looking statements about such matters as: our outlook for 2015; future or targeted operational and financial performance; growth prospects and rates; the markets we serve; future or targeted profitability, cash flow, liquidity, sales, costs and expenses, tax rates, working capital, inventory levels, debt levels, capital expenditures, EBITDA, cost savings and business opportunities and positioning; strategic plans; stock repurchase plans; cost, inventory and supply chain management; rationalization and related activities; the impact of rationalization, product line changes, cost competitiveness and liquidity initiatives; expected or targeted changes in production capacity or levels, operating rates or efficiency in our operations or our competitors' or customers' operations; future prices and demand for our products; product quality; diversification, new products, and product improvements and their impact on our business; the integration or impact of acquired businesses; investments and acquisitions that we may make in the future; possible financing or refinancing (including factoring and supply chain financing) activities; our customers' operations, order patterns and demand for their products; the impact of customer bankruptcies; our position in markets we serve; regional and global economic and industry market conditions, including our expectations concerning their impact on us and our customers and suppliers; conditions and changes in the global financial and credit markets; legal proceedings and antitrust investigations; our liquidity and capital resources, including our obligations under our senior subordinated notes that mature in November 2015; tax rates and the effects of jurisdictional mix; the impact of accounting changes; and currency exchange and interest rates and changes therein.</font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">We have no duty to update these statements.  Our expectations and targets are not predictions of actual performance and historically our performance has deviated, often significantly, from our expectations and targets. Actual future events, circumstances, performance and trends could differ materially, positively or negatively, due to various factors, including: adjustments to our 2014 results; actual timing of the filing of our Form 10-K with the SEC and potential effects of delays in such filing; failure to achieve cost savings, EBITDA or other estimates; actual outcome of uncertainties associated with assumptions and estimates used when applying critical accounting policies and preparing financial statements; failure to successfully develop and commercialize new or improved products; adverse changes in cost, inventory or supply chain management; limitations or delays on capital expenditures; business interruptions including those caused by weather, natural disaster, or other causes; delays or changes in, or non-consummation of proposed investments or acquisitions; failure to successfully integrate or </font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s7669ca32281447c1bc5351d555473861"></a><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">EXHIBIT 99.1</font></div></div><br><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">achieve expected synergies, performance or returns expected from any completed investments or acquisitions; inability to protect our intellectual property rights or infringement of intellectual property rights of others; changes in market prices of our securities; changes in our ability to obtain new or refinance existing financing on acceptable terms; adverse changes in labor relations; adverse developments in legal proceedings or investigations; non-realization of anticipated benefits from, or variances in the cost or timing of, organizational changes, rationalizations and restructurings; loss of market share or sales due to rationalization, product line changes, or pricing activities; negative developments relating to health, safety or environmental compliance, remediation or liabilities; downturns, production reductions or suspensions, or other changes in steel, electronics and other markets we or our customers serve; customer or supplier bankruptcy or insolvency events; political unrest which adversely impacts us or our customers' businesses; declines in demand; intensified competition and price or margin decreases; graphite electrode and needle coke manufacturing capacity increases; fluctuating market prices for our products, including adverse differences between actual graphite electrode prices and spot or announced prices; consolidation of steel producers; mismatches between manufacturing capacity and demand; significant changes in our provision for income taxes and effective income tax rate; changes in the availability or cost of key inputs, including petroleum-based coke or energy; changes in interest or currency exchange rates; inflation or deflation; failure to satisfy conditions to government grants; continuing uncertainty over fiscal or monetary policies or conditions in the U.S., Europe, China or elsewhere; changes in fiscal and monetary policy; a protracted regional or global financial or economic crisis; and other risks and uncertainties, including those detailed in our SEC filings, as well as future decisions by us. This news release does not constitute an offer or solicitation as to any securities. References to street or analyst earnings estimates mean those published by First Call.</font></div><div style="line-height:174%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><br><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
