Common use of Prepayments of Other Indebtedness Clause in Contracts

Prepayments of Other Indebtedness. Modifications of Organizational Documents and Other Documents, etc. 125 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 127 SECTION 6.13 Limitation on Issuance of Capital Stock 128 SECTION 6.14 Limitation on Creation of Subsidiaries 129 SECTION 6.15 Business 129 SECTION 6.16 Limitation on Accounting Changes 129 SECTION 6.17 Fiscal Year 129 SECTION 6.18 Lease Obligations 129 SECTION 6.19 No Further Negative Pledge 129 SECTION 6.20 Anti-Terrorism Law; Anti-Money Laundering 130 SECTION 6.21 Embargoed Persons 130 SECTION 6.22 Tax Shelter Reporting 131 ARTICLE VII. GUARANTEE 131 SECTION 7.01 The Guarantee 131 SECTION 7.02 Obligations Unconditional 132 SECTION 7.03 Reinstatement 133 SECTION 7.04 Subrogation; Subordination 133 SECTION 7.05 Remedies 133 SECTION 7.06 Instrument for the Payment of Money 134 SECTION 7.07 Continuing Guarantee 134 SECTION 7.08 General Limitation on Guarantee Obligations 134 SECTION 7.09 Release of Guarantors 134 SECTION 7.10 Certain Tax Matters 134 SECTION 7.11 German Guarantor 135 SECTION 7.12 Swiss Guarantors 137 SECTION 7.13 Irish Guarantor 138

Prepayments of Other Indebtedness. Modifications of Organizational Documents and Other Documents, etc. 125 179 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 127 182 SECTION 6.13 Limitation on Issuance of Capital Stock 128 183 SECTION 6.14 Limitation on Creation of Subsidiaries 129 183 SECTION 6.15 Business 129 183 SECTION 6.16 Limitation on Accounting Changes 129 184 SECTION 6.17 Fiscal Year 129 184 SECTION 6.18 Lease Obligations 129 184 SECTION 6.19 No Further Negative Pledge 129 184 SECTION 6.20 Anti-Terrorism Law; Anti-Money Laundering 130 185 SECTION 6.21 Embargoed Persons 130 185 SECTION 6.22 Tax Shelter Reporting 131 185 ARTICLE VII. GUARANTEE 131 185 SECTION 7.01 The Guarantee 131 186 SECTION 7.02 Obligations Unconditional 132 186 SECTION 7.03 Reinstatement 133 187 SECTION 7.04 Subrogation; Subordination 133 188 SECTION 7.05 Remedies 133 188 SECTION 7.06 Instrument for the Payment of Money 134 188 SECTION 7.07 Continuing Guarantee 134 188 SECTION 7.08 General Limitation on Guarantee Obligations 134 188 SECTION 7.09 Release of Guarantors 134 189 SECTION 7.10 Certain Tax Matters 134 189 SECTION 7.11 German Guarantor 135 190 SECTION 7.12 Swiss Guarantors 137 192 SECTION 7.13 Irish Guarantor 138193 SECTION 7.14 Brazilian Guarantor 193 ARTICLE VIII. EVENTS OF DEFAULT 193 SECTION 8.01 Events of Default 193 SECTION 8.02 Rescission 196 SECTION 8.03 Application of Proceeds 197 ARTICLE IX. COLLATERAL ACCOUNT; COLLATERAL MONITORING; APPLICATION OF COLLATERAL PROCEEDS 198 SECTION 9.01 Accounts; Cash Management 198 SECTION 9.02 Inventory 201 SECTION 9.03 Borrowing Base-Related Reports 202 SECTION 9.04 Rescission of Activation Notice 203

Prepayments of Other Indebtedness. Modifications of Organizational Documents and Other Documents, etc. 125 SECTION 242 Section 6.12 Limitation on Certain Restrictions on Restricted Subsidiaries 127 SECTION 245 Section 6.13 Limitation on Issuance of Disqualified Capital Stock 128 SECTION 246 Section 6.14 Limitation on Creation of Subsidiaries 129 SECTION Senior Secured Net Leverage Ratio 246 Section 6.15 Business 129 SECTION 246 Section 6.16 Limitation on Accounting Changes 129 SECTION 247 Section 6.17 Fiscal Year 129 SECTION 247 Section 6.18 Lease Obligations 129 SECTION Margin Rules 247 Section 6.19 No Further Negative Pledge 129 SECTION 248 Section 6.20 Anti-Terrorism Law; Anti-Money Laundering 130 SECTION 248 Section 6.21 Embargoed Persons 130 SECTION 6.22 Tax Shelter Reporting 131 249 ARTICLE VII. VII GUARANTEE 131 SECTION 249 Section 7.01 The Guarantee 131 SECTION 249 Section 7.02 Obligations Unconditional 132 SECTION 250 Section 7.03 Reinstatement 133 SECTION 252 Section 7.04 Subrogation; Subordination 133 SECTION 252 Section 7.05 Remedies 133 SECTION 252 Section 7.06 Instrument for the Payment of Money 134 SECTION 252 Section 7.07 Continuing Guarantee 134 SECTION 253 Section 7.08 General Limitation on Guarantee Obligations 134 SECTION 253 Section 7.09 Release of Guarantors 134 SECTION 253 Section 7.10 Certain Tax Matters 134 SECTION 253 Section 7.11 German Guarantor 135 SECTION 254 Section 7.12 Swiss Guarantors 137 SECTION 256 Section 7.13 Irish Guarantor 138257 Section 7.14 Brazilian Guarantor 258 Section 7.15 French Guarantor. 258 Section 7.16 Belgian Guarantor 258 Section 7.17 Keepwell 258 ARTICLE VIII EVENTS OF DEFAULT 259 Section 8.01 Events of Default 259 Section 8.02 Rescission 262 Section 8.03 Application of Proceeds 262 Section 8.04 Designated Company’s Right to Cure 264 ARTICLE IX [INTENTIONALLY OMITTED] 265 ARTICLE X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 265 Section 10.01 Appointment and Authority 265 Section 10.02 Rights as a Lender 265 Section 10.03 Exculpatory Provisions 265 Section 10.04 Reliance by the Administrative Agent 267 Section 10.05 Delegation of Duties 268

Prepayments of Other Indebtedness. Modifications of Organizational Documents and Other Documents, etc. 125 SECTION 240 Section 6.12 Limitation on Certain Restrictions on Restricted Subsidiaries 127 SECTION 242 Section 6.13 Limitation on Issuance of Disqualified Capital Stock 128 SECTION 244 Section 6.14 Limitation on Creation of Subsidiaries 129 SECTION Senior Secured Net Leverage Ratio 244 Section 6.15 Business 129 SECTION 244 Section 6.16 Limitation on Accounting Changes 129 SECTION 245 Section 6.17 Fiscal Year 129 SECTION 245 Section 6.18 Lease Obligations 129 SECTION Margin Rules 245 Section 6.19 No Further Negative Pledge 129 SECTION 246 Section 6.20 Anti-Terrorism Law; Anti-Money Laundering 130 SECTION 247 Section 6.21 Embargoed Persons 130 SECTION 6.22 Tax Shelter Reporting 131 247 ARTICLE VII. VII GUARANTEE 131 SECTION 247 Section 7.01 The Guarantee 131 SECTION 247 Section 7.02 Obligations Unconditional 132 SECTION 249 Section 7.03 Reinstatement 133 SECTION 250 Section 7.04 Subrogation; Subordination 133 SECTION 250 Section 7.05 Remedies 133 SECTION 251 Section 7.06 Instrument for the Payment of Money 134 SECTION 251 Section 7.07 Continuing Guarantee 134 SECTION 251 Section 7.08 General Limitation on Guarantee Obligations 134 SECTION 251 Section 7.09 Release of Guarantors 134 SECTION 251 Section 7.10 Certain Tax Matters 134 SECTION 252 Section 7.11 German Guarantor 135 SECTION 252 Section 7.12 Swiss Guarantors 137 SECTION 255 Section 7.13 Irish Guarantor 138256 Section 7.14 Brazilian Guarantor 256 Section 7.15 French Guarantor. 256 Section 7.16 Belgian Guarantor 257 Section 7.17 Keepwell 257 ARTICLE VIII EVENTS OF DEFAULT 257 Section 8.01 Events of Default 257 Section 8.02 Rescission 261 Section 8.03 Application of Proceeds 261 Section 8.04 Designated Company’s Right to Cure 263 ARTICLE IX [INTENTIONALLY OMITTED] 264 ARTICLE X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 264 Section 10.01 Appointment and Authority 264 Section 10.02 Rights as a Lender 264 Section 10.03 Exculpatory Provisions 264 Section 10.04 Reliance by the Administrative Agent 266 Section 10.05 Delegation of Duties 267 Section 10.06 Resignation of Agent 267 Section 10.07 Non-Reliance on Agent and Other Lenders 268 Section 10.08 No Other Duties, etc 268 Section 10.09 Administrative Agent May File Proofs of Claim 268 Section 10.10 Concerning the Collateral and the Related Loan Documents 269 Section 10.11 Release 269 Section 10.12 Acknowledgment of Security Trust Deed 269 Section 10.13 Secured Hedging Agreements 270 ARTICLE XI MISCELLANEOUS 270 Section 11.01 Notices 270 Section 11.02 Waivers; Cumulative Remedies; Amendment 274 Section 11.03 Expenses; Indemnity; Damage Waiver 281 Section 11.04 Successors and Assigns 284 Section 11.05 Survival of Agreement 291 Section 11.06 Counterparts; Integration; Effectiveness 291 Section 11.07 Severability 291 Section 11.08 Right of Setoff 292 SECTION 11.09 GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS 292 SECTION 11.10 WAIVER OF JURY TRIAL 293 Section 11.11 Headings 294 Section 11.12 Treatment of Certain Information; Confidentiality 294 Section 11.13 USA PATRIOT Act Notice 295 Section 11.14 Interest Rate Limitation 295 Section 11.15 Singapore Personal Data Protection Act 295 Section 11.16 Obligations Absolute 296 Section 11.17 Intercreditor Agreement 296 Section 11.18 Judgment Currency 297 Section 11.19 Enforcement 297 Section 11.20 No Advisory or Fiduciary Responsibility 298 Section 11.21 Abstract Acknowledgment of Indebtedness and Joint Creditorship 298 Section 11.22 Special Appointment of Collateral Agent for German Security 299 Section 11.23 Special Appointment of Collateral Agent in Relation to South Korea 301 Section 11.24 Special Appointment of Collateral Agent in Relation to France 301 Section 11.25 Swiss Tax Ruling 302 Section 11.26 Designation of Collateral Agent under Civil Code of Quebec 302 Section 11.27 Maximum Liability 303 Section 11.28 NO ORAL AGREEMENT 303 Section 11.29 Collateral Matters 303 Section 11.30 Electronic Execution of Assignments and Certain other Documents 305 Section 11.31 Payments Set Aside 305 Section 11.32 Acknowledgement and Consent to Bail-In of Affected Financial Institutions 306 Section 11.33 Lender Consents and Acknowledgements 306 Section 11.34 Termination 308 Section 11.35 Lender Authorizations 308 Section 11.36 Dutch Parallel Debt in Relation to the Dutch Security Agreements 308 Section 11.37 Special Appointment of Collateral Agent in Relation to Belgium 309 Section 11.38 Lender Exculpation 310 Section 11.39 Acknowledgement Regarding Any Supported QFCs 310 Annex I Amortization Table Schedule 1.01(a) Term Loan Commitments Schedule 1.01(b) Subsidiary Guarantors Schedule 1.01(c) Excluded Collateral Subsidiaries Schedule 1.01(d) Existing Secured Hedge Providers Schedule 1.01(e) Administrative Agent’s Office Schedule 3.06(c) Violations or Proceedings Schedule 3.17 Pension Matters Schedule 3.19 Insurance Schedule 3.21 Material Documents Schedule 3.24 Location of Material Inventory Schedule 4.02(g) Local and Foreign Counsel Schedule 5.11(b) Certain Subsidiaries Schedule 5.15 Post-Closing Covenants Schedule 5.15-1 Title Insurance Amounts Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord Access Agreement Exhibit H-1 Form of U.S. Tax Compliance Certificate Exhibit H-2 Form of U.S. Tax Compliance Certificate Exhibit H-3 Form of U.S. Tax Compliance Certificate Exhibit H-4 Form of U.S. Tax Compliance Certificate Exhibit I Form of Escrow Drawdown Request Exhibit J Form of Mortgage Exhibit K Form of Term Loan Note Exhibit L-1 Form of Perfection Certificate Exhibit L-2 Form of Perfection Certificate Supplement Exhibit M [Intentionally Omitted] Exhibit N [Intentionally Omitted] Exhibit O Form of Solvency Certificate Exhibit P Form of Intercompany Note Exhibit Q Form of Secured Hedge Provider Joinder This CREDIT AGREEMENT (as amended as of September 14, 2017, as of November 20, 2018, as of December 18, 2018, as of February 21, 2020, as of August 25, 2020, and as further, dated as of January 10, 2017 (as amended, restated, amended and restated, supplemented or modified, the “Agreement”), dated as of January 10, 2017, is among NOVELIS INC., a corporation amalgamated under the Canada Business Corporations Act and having its corporate office at Two Alliance Center, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, ▇▇▇, as borrower (in such capacity, and together with its successors in such capacity, the “Borrower”), AV METALS INC., a corporation formed under the Canada Business Corporations Act and having its corporate office at Two Alliance Center, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, ▇▇▇, the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, and Standard Chartered Bank, being a company incorporated in England by Royal Charter 1853, with reference number ZC18 and whose registered office is ▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇, as administrative agent (in such capacity, and together with its successors in such capacity, “Administrative Agent”) for the Lenders and as collateral agent (in such capacity, and together with its successors in such capacity, “Collateral Agent”) for the Lenders.

Prepayments of Other Indebtedness. Modifications of Organizational Documents and Other Documents, etc. 125 94 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 127 95 SECTION 6.13 Limitation on Issuance of Capital Stock 128 96 SECTION 6.14 Limitation on Creation of Subsidiaries 129 Business 96 SECTION 6.15 Business 129 SECTION 6.16 Limitation on Accounting Changes 129 96 SECTION 6.16 Fiscal Year 96 SECTION 6.17 Fiscal Year 129 SECTION 6.18 Lease Obligations 129 SECTION 6.19 No Further Negative Pledge 129 96 SECTION 6.20 6.18 Anti-Terrorism Law; Anti-Money Laundering 130 97 SECTION 6.21 6.19 Embargoed Persons 130 SECTION 6.22 Tax Shelter Reporting 131 ARTICLE VII. GUARANTEE 131 Person 97 SECTION 7.01 The Guarantee 131 98 SECTION 7.02 Obligations Unconditional 132 98 SECTION 7.03 Reinstatement 133 99 SECTION 7.04 Subrogation; Subordination 133 99 SECTION 7.05 Remedies 133 99 SECTION 7.06 Instrument for the Payment of Money 134 100 SECTION 7.07 Continuing Guarantee 134 100 SECTION 7.08 General Limitation on Guarantee Obligations 134 100 SECTION 7.09 Release Right of Guarantors 134 Contribution 100 SECTION 7.10 8.01 Events of Default 100 SECTION 8.02 Rescission 103 SECTION 8.03 Application of Proceeds 103 SECTION 9.01 Appointment and Authority 104 SECTION 9.02 Rights as a Lender 104 SECTION 9.03 Exculpatory Provisions 105 SECTION 9.04 Reliance by Agent 106 SECTION 9.05 Delegation of Duties 106 SECTION 9.06 Resignation of Agent 106 SECTION 9.07 Non-Reliance on Agent and Other Lenders 107 SECTION 9.08 No Other Duties, etc 107 SECTION 10.01 Notices 107 SECTION 10.02 Waivers; Amendment 110 SECTION 10.03 Expenses; Indemnity; Damage Waiver 112 SECTION 10.04 Successors and Assigns 114 SECTION 10.05 Survival of Agreement 117 SECTION 10.06 Counterparts; Integration; Effectiveness 117 SECTION 10.07 Severability 117 SECTION 10.08 Right of Setoff 117 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 118 SECTION 10.10 Waiver of Jury Trial 118 SECTION 10.11 Headings 119 SECTION 10.12 Treatment of Certain Tax Information; Confidentiality 119 SECTION 10.13 USA PATRIOT Act Notice 119 SECTION 10.14 Interest Rate Limitation 120 SECTION 10.15 Lender Addendum 120 SECTION 10.16 Obligations Absolute 120 SECTION 10.17 Enforcement 120 SECTION 10.18 Additional Loans 121 SECTION 10.19 CFC Subsidiary 121 Annex I Applicable Margin Schedule 1.01 Refinancing Indebtedness to Be Repaid Schedule 2.19 Accounts and Lockboxes Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.06(a) No Claims Schedule 3.06(b) Violations or Proceedings Schedule 3.07 Equity Interests and Subsidiaries Schedule 3.09 Material Agreements Schedule 3.18 Environmental Matters 134 SECTION 7.11 German Guarantor 135 SECTION 7.12 Swiss Guarantors 137 SECTION 7.13 Irish Guarantor 138Schedule 3.19 Insurance Schedule 3.22 Location of Material Inventory Schedule 4.01(g) Local Counsel Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(a) Existing Investments Schedule 6.11 Proposed Amendments to Organizational Documents Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Inventory Reclamation Waiver Exhibit H Form of LC Request Exhibit I Form of Lender Addendum Exhibit J-1 Form of Revolving Note Exhibit J-2 Form of Swingline Note Exhibit K-1 Form of Perfection Certificate Exhibit K-2 Form of Perfection Certificate Supplement Exhibit L Form of Security Agreement Exhibit M-1 Form of Opinion of Company Counsel Exhibit M-2 Form of Opinion of Local Counsel Exhibit N Form of Solvency Certificate Exhibit O Form of Intercompany Note Exhibit P Form of Non-Bank Certificate Exhibit Q Form of Borrowing Base Certificate This CREDIT AGREEMENT (this “Agreement”) dated as of May 30, 2008, among VERASUN ENERGY CORPORATION, a South Dakota corporation, as Borrower Representative (“Borrower Representative”), VERASUN FORT DODGE, LLC a Delaware limited liability company (“VeraSun Fort Dodge”), VERASUN ▇▇▇▇▇▇▇, LLC a Delaware limited liability company (“VeraSun ▇▇▇▇▇▇▇”), VERASUN WELCOME, LLC a Delaware limited liability company (“VeraSun Welcome”), VERASUN ▇▇▇▇▇▇▇ CITY, LLC a Delaware limited liability company (“VeraSun ▇▇▇▇▇▇▇ City”), VERASUN AURORA CORPORATION a South Dakota corporation (“VeraSun Aurora”), VERASUN MARKETING, LLC a Delaware limited liability company (“VeraSun Marketing” and together with Borrower Representative, VeraSun Fort Dodge, VeraSun ▇▇▇▇▇▇▇, VeraSun Welcome, VeraSun ▇▇▇▇▇▇▇ City and VeraSun Aurora, “Borrowers” and each, individually, a “Borrower”), the Lenders (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), UBS SECURITIES LLC, as lead arranger (in such capacity, “Arranger”), as documentation agent (in such capacity, “Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”) and UBS AG, STAMFORD BRANCH, as issuing bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and the Secured Parties and as co-collateral agent (in such capacity, together with any other Lender appointed as a co-collateral agent, each a “Co-Collateral Agent”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents and Other Documents, etc. 125 96 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 127 97 SECTION 6.13 Limitation on Issuance of Capital Stock 128 [Reserved.] 98 SECTION 6.14 Limitation on Creation of Subsidiaries 129 [Reserved.] 98 SECTION 6.15 Business 129 98 SECTION 6.16 Limitation on Accounting Changes 129 98 SECTION 6.17 Fiscal Year 129 98 SECTION 6.18 Lease Obligations 129 SECTION 6.19 No Further Negative Pledge 129 98 SECTION 6.20 6.19 Anti-Terrorism Law; Anti-Money Laundering 130 99 SECTION 6.21 6.20 Embargoed Persons 130 SECTION 6.22 Tax Shelter Reporting 131 ARTICLE VII. GUARANTEE 131 Person 99 SECTION 7.01 The Guarantee 131 100 SECTION 7.02 Obligations Unconditional 132 100 SECTION 7.03 Reinstatement 133 101 SECTION 7.04 Subrogation; Subordination 133 101 SECTION 7.05 Remedies 133 101 SECTION 7.06 Instrument for the Payment of Money 134 102 SECTION 7.07 Continuing Guarantee 134 102 SECTION 7.08 General Limitation on Guarantee Obligations 134 102 SECTION 7.09 Release of Guarantors 134 102 SECTION 7.10 Right of Contribution 102 SECTION 8.01 Events of Default 103 SECTION 8.02 Rescission 105 SECTION 8.03 Application of Proceeds 105 SECTION 9.01 Appointment and Authority 106 SECTION 9.02 Rights as a Lender 106 SECTION 9.03 Exculpatory Provisions 107 SECTION 9.04 Reliance by Agent 108 SECTION 9.05 Delegation of Duties 108 SECTION 9.06 Resignation of Agent 108 SECTION 9.07 Non-Reliance on Agent and Other Lenders 109 SECTION 9.08 Withholding Tax 109 SECTION 9.09 No Other Duties, etc. 109 SECTION 9.10 Collateral Matters 109 SECTION 10.01 Notices 110 SECTION 10.02 Waivers; Amendment 113 SECTION 10.03 Expenses; Indemnity; Damage Waiver 115 SECTION 10.04 Successors and Assigns 116 SECTION 10.05 Survival of Agreement 119 SECTION 10.06 Counterparts; Integration; Effectiveness 119 SECTION 10.07 Severability 120 SECTION 10.08 Right of Setoff 120 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 120 SECTION 10.10 Waiver of Jury Trial 121 SECTION 10.11 Headings 121 SECTION 10.12 Treatment of Certain Tax Matters 134 Information; Confidentiality 121 SECTION 7.11 German Guarantor 135 10.13 USA PATRIOT Act Notice 122 SECTION 7.12 Swiss Guarantors 137 10.14 Interest Rate Limitation 122 SECTION 7.13 Irish Guarantor 13810.15 Obligations Absolute 122 SECTION 10.16 Joint and Several Liability 123 SECTION 10.17 No Advisory or Fiduciary Responsibility 123 SECTION 10.18 Super Holdco Transaction 123 SECTION 10.19 Amendment and Restatement 123 Annex 1 Amortization Schedule Schedule X Commitments Schedule 1.01(b) Guarantors

Prepayments of Other Indebtedness. Modifications of Organizational Documents and Other Documents, etc. 125 94 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 127 94 SECTION 6.13 Limitation on Issuance of Capital Stock 128 95 SECTION 6.14 Limitation on Creation of Subsidiaries 129 95 SECTION 6.15 Business 129 95 SECTION 6.16 Limitation on Accounting Changes 129 96 SECTION 6.17 Fiscal Year 129 96 SECTION 6.18 Lease Obligations 129 [Intentionally Omitted] 96 SECTION 6.19 No Further Negative Pledge 129 96 SECTION 6.20 Anti-Terrorism Law; Anti-Money Laundering 130 96 SECTION 6.21 Embargoed Persons 130 Person 97 SECTION 6.22 Tax Shelter Reporting 131 ARTICLE VII. GUARANTEE 131 Limitation on Finance Subsidiary 97 SECTION 6.23 Preservation of Claims Under the Korean Opco Guarantees 97 SECTION 6.24 Liens on Deposit Accounts and Available Cash 97 SECTION 7.01 The Guarantee 131 98 SECTION 7.02 Obligations Unconditional 132 98 SECTION 7.03 Reinstatement 133 99 SECTION 7.04 Subrogation; Subordination 133 Subrogation 99 SECTION 7.05 Remedies 133 99 SECTION 7.06 Instrument for the Payment of Money 134 100 SECTION 7.07 Continuing Guarantee 134 100 SECTION 7.08 General Limitation on Guarantee Obligations 134 100 SECTION 7.09 Release of Guarantors 134 100 SECTION 7.10 Provisions Applicable to Certain Tax Guarantees 100 SECTION 8.01 Events of Default 100 SECTION 8.02 Application of Proceeds 103 SECTION 9.01 Appointment and Authority 104 SECTION 9.02 Rights as a Lender 104 SECTION 9.03 Exculpatory Provisions 105 SECTION 9.04 Reliance by Agent 105 SECTION 9.05 Delegation of Duties 106 SECTION 9.06 Resignation of Agent 106 SECTION 9.07 Non-Reliance on Agent and Other Lenders 106 SECTION 9.08 No Other Duties, etc 107 SECTION 10.01 Notices 107 SECTION 10.02 Waivers; Amendment 109 SECTION 10.03 Expenses; Indemnity; Damage Waiver 112 SECTION 10.04 Successors and Assigns. 113 SECTION 10.05 Survival of Agreement 116 SECTION 10.06 Counterparts; Integration; Effectiveness; Electronic Execution 116 SECTION 10.07 Severability 116 SECTION 10.08 Right of Setoff 117 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 117 SECTION 10.10 Waiver of Jury Trial 118 SECTION 10.11 Obligations Joint and Several 118 SECTION 10.12 Headings 118 SECTION 10.13 Treatment of Certain Information; Confidentiality 118 SECTION 10.14 USA PATRIOT Act Notice 119 SECTION 10.15 Interest Rate Limitation 119 SECTION 10.16 Lender Addendum 119 SECTION 10.17 Obligations Absolute 119 SECTION 10.18 Judgment Currency 120 Annex I Applicable Margin Schedule 1.01(a) Korean Opco Security Documents Schedule 1.01(b) Material Indebtedness Schedule 1.01(c) Refinancing Indebtedness to Be Repaid Schedule 1.01(d) Subsidiary Guarantors Schedule 2.17 Existing Letters of Credit Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.05(b) Real Property Schedule 3.06(b) Intellectual Property Registrations Schedule 3.06(c) Violations or Proceedings Schedule 3.07(a) Equity Interests Schedule 3.07(c) Corporate Organizational Chart Schedule 3.18 Environmental Matters 134 SECTION 7.11 German Guarantor 135 SECTION 7.12 Swiss Schedule 3.19 Insurance Schedule 4.01(g) Local Counsel Schedule 4.01(n) Intercompany Loan Documents Schedule 4.01(o)(iii) Title Insurance Amounts Schedule 4.01(r)(i) Korean Opco Guarantee Schedule 5.13 Post-Closing Matters Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord Access Agreement Exhibit H Form of LC Request Exhibit I Form of Lender Addendum Exhibit J [Intentionally Omitted] Exhibit K-1 Form of Revolving Note Exhibit K-2 Form of Swingline Note Exhibit L-1 Form of Perfection Certificate Exhibit L-2 Form of Perfection Certificate Supplement Exhibit M Form of Security Agreement Exhibit N Form of Opinion of Company Counsel Exhibit O Form of Solvency Certificate This CREDIT AGREEMENT (this “Agreement”) dated as of December 23, 2004, among MAGNACHIP SEMICONDUCTOR S.A., a société anonyme, organized and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 1▇, ▇▇▇ ▇▇ ▇▇▇▇▇▇▇, ▇-▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, Grand Duchy of Luxembourg, registered with the Luxembourg Register of commerce and companies under the number B 97,483, MAGNACHIP SEMICONDUCTOR FINANCE COMPANY, a Delaware corporation (collectively, “Borrowers”), MAGNACHIP SEMICONDUCTOR LLC, a Delaware limited liability company (“Holdings”), the Subsidiary Guarantors 137 SECTION 7.13 Irish Guarantor 138listed on the signature pages hereto (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, UBS SECURITIES LLC, as lead arranger (in such capacity, “Arranger”), as documentation agent (in such capacity, “Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), and KOREA EXCHANGE BANK, as issuing bank (in such capacity, “Issuing Bank”), UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and as collateral agent (in such capacity, “Collateral Agent”) for the Secured Parties and the Issuing Bank.

Prepayments of Other Indebtedness. Modifications of Organizational Documents Documents, Acquisition and Certain Other Documents, etc. 125 SECTION 100 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 127 SECTION 101 Section 6.13 Limitation on Issuance of Capital Stock 128 SECTION 102 Section 6.14 Limitation on Creation of Subsidiaries 129 SECTION 102 Section 6.15 Business 129 SECTION 102 Section 6.16 Limitation on Accounting Changes 129 SECTION 102 Section 6.17 Fiscal Year 129 SECTION 102 Section 6.18 Operating Lease Obligations 129 SECTION 102 Section 6.19 No Further Negative Pledge 129 SECTION 102 Section 6.20 Anti-Terrorism Law; Anti-Money Laundering 130 SECTION 103 Section 6.21 Embargoed Persons 130 SECTION Person 103 Section 6.22 Tax Shelter Reporting 131 Health Care Matters 103 Section 6.23 Certain Fees and Payments 103 ARTICLE VII. GUARANTEE 131 SECTION 104 Section 7.01 The Guarantee 131 SECTION 104 Section 7.02 Obligations Unconditional 132 SECTION 104 Section 7.03 Reinstatement 133 SECTION 105 Section 7.04 Subrogation; Subordination 133 SECTION 105 Section 7.05 Remedies 133 SECTION 105 Section 7.06 Instrument for the Payment of Money 134 SECTION 106 Section 7.07 Continuing Guarantee 134 SECTION 106 Section 7.08 General Limitation on Guarantee Obligations 134 SECTION 106 Section 7.09 Release of Guarantors 134 SECTION 106 Section 7.10 Certain Tax Matters 134 SECTION 7.11 German Guarantor 135 SECTION 7.12 Swiss Right of Contribution 106 ARTICLE VIII. EVENTS OF DEFAULT 107 Section 8.01 Events of Default 107 ARTICLE IX. COLLATERAL ACCOUNT; APPLICATION OF COLLATERAL PROCEEDS 110 Section 9.01 Collateral Account 110 Section 9.02 Application of Proceeds 111 ARTICLE X. THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 112 Section 10.01 Appointment 112 Section 10.02 Agent in Its Individual Capacity 112 Section 10.03 Exculpatory Provisions 112 Section 10.04 Reliance by Agent 113 Section 10.05 Delegation of Duties 113 Section 10.06 Successor Agent 113 Section 10.07 Non-Reliance on Agent and Other Lenders 114 Section 10.08 Name Agents 114 Section 10.09 Indemnification 114 ARTICLE XI. MISCELLANEOUS 114 Section 11.01 Notices 114 Section 11.02 Waivers; Amendment 116 Section 11.03 Expenses; Indemnity 118 Section 11.04 Successors and Assigns 120 Section 11.05 Survival of Agreement 123 Section 11.06 Counterparts; Integration; Effectiveness 123 Section 11.07 Severability 123 Section 11.08 Right of Setoff 124 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 124 Section 11.10 Waiver of Jury Trial 125 Section 11.11 Headings; No Adverse Interpretation of Other Agreements 125 Section 11.12 Confidentiality 125 Section 11.13 Interest Rate Limitation 126 Section 11.14 Assignment and Acceptance 126 Section 11.15 Obligations Absolute 126 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 126 Section 11.17 Patriot Act 127 Section 11.18 Judgment Currency 127 Section 11.19 Assumption of Obligations under Loan Documents 127 Section 11.20 Assumption of Obligations under Commitment Letter and Fee Letter 127 Annex I Applicable Margin Annex II Amortization Table Annex III Initial Lenders and Commitments Schedule 1.01(a) Additional Equity Investors Schedule 1.01(c) Subsidiary Guarantors 137 SECTION 7.13 Irish Guarantor 138Schedule 1.01(d) Pledgors Schedule 1.01(e) Refinancing Indebtedness