Form 8-K MRC GLOBAL INC. For: 03 Sep.


Insolvency Regulation: Council Regulation (EC) No 2015/848 of 20 May 2015 on insolvency proceedings (recast).

Mission of assurance: each collateral assignment of insurance pursuant to which a Lending Party assigns to the Agent, for the benefit of the Guaranteed Parties, the rights of this Lending Party under business interruption policies, as security for the Guaranteed Obligations.

Agreement between creditorsthat certain Fourth Amended and Restated Intercreditor Agreements dated June 11, 2015, between MRC Global, certain of its National Subsidiaries, Bank of America, NA, as agents of the Revolving Credit Lenders (as therein are defined), and US Bank National Association, as trustee for itself and the Term Secured Parties (as defined therein), Additional Term Secured Parties (as defined therein), and the Subordinate Lien Secured Parties (as defined therein), as the same may be modified, restated, supplemented or otherwise modified from time to time.

Interest period: as defined in section 3.1.8.

Interest period loanan Australian bank rate loan, a Canadian BA rate loan, an EURIBOR loan, a LIBOR loan, a New Zealand bank rate loan or a NIBOR loan.

Interest rate agreementmeans any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedging agreement or other similar agreement or arrangement, each having the purpose of hedging interest rate risk associated with the operations of MRC Global and its subsidiaries and not for speculative purposes.

Inventory: as defined in the UCC, PPSA, PPSA Australia, PPSA New Zealand or other applicable law, as applicable, including all goods for sale, hire, display or at the demonstration; all goods supplied under a contract for services; all work in progress; and all raw materials, and other materials and supplies of any kind which are or may be used in connection with the manufacture, processing, printing, packaging, shipping, advertising, sale, rental or the supply of such goods, or otherwise used or consumed in the business of a lending party (but excluding equipment) and, in respect of a lending party domiciled in Norway, inventory (Nw. valetage) as defined in the section of the Norwegian Pledge Act 3-11, including raw materials, unfinished and finished products and goods, fuels and other consumables, and packaging of company products to the extent owned or used in the owner’s business.

Inventory valuation: (a) as of the closing date, valuations prepared by HILCO Valuation Services, LLC as of July 15, 2021 and (b) thereafter, the most recent inventory valuation performed by an independent valuation company and delivered in accordance with Section 10.1.15 hereof.

Investment: for any person: (a) the acquisition (whether for money, goods, services or securities or otherwise) of shares, share equivalents, bonds, notes , debentures, partnerships or other equity or other securities of any other person (including any “short sale” or any sale of securities at a time when such securities are not owned by the person entering into such sale) ; (b) the making of any deposit or advance, loan or other extension of credit to any other person (including the purchase of property from another person subject to an agreement or agreement, conditional or otherwise, to resell such property to such person Person); or (c) entering into any security or other conditional obligation with respect to the Indebtedness.



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