Exhibit 10.13

 

EXCHANGE AGREEMENT


dated as of


July 23, 2004


among


DECRANE AIRCRAFT HOLDINGS, INC.,


THE GUARANTORS SET FORTH ON THE SIGNATURE PAGES
HERETO


and


THE HOLDERS SET FORTH ON THE SIGNATURE PAGES HERETO

 

 

TABLE OF CONTENTS

 

Article 1
ISSUANCE AND EXCHANGE
Section 1.01.  Issuance, Exchange And Delivery
Section 1.02.  Closing
Article 2
REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE GUARANTORS
Section 2.01.  Incorporation Of Representations And Warranties In Credit Agreement
Section 2.02.  Authorizations
Section 2.03.  Governmental Authorization
Section 2.04.  Non-Contravention
Section 2.05.  No Registration
Section 2.06.  Litigation
Section 2.07.  Finder’s Fees
ARTICLE 3
REPRESENTATIONS AND WARRANTIES OF THE HOLDERS
Section 3.01.  Ownership of Old Notes
Section 3.02.  Authorization of Exchange Agreement
Section 3.03.  Non-Contravention
Section 3.04.  Exchange for Investment
Section 3.05.  Restricted Securities
Section 3.06.  Inspections; No Other Representations
Section 3.07.  Finder’s Fees
ARTICLE 4
COVENANTS
Section 4.01.  Covenants of the Company
Section 4.02.  Covenants of the Holders
Article 5
CONDITIONS TO THE CLOSING
Section 5.01.  Conditions to Obligation of Each Party
Section 5.02.  Conditions to the Obligations of the Holders
Section 5.03.  Conditions to the Obligations of the Company
Article 6
SURVIVAL; INDEMNIFICATION
Section 6.01.  Survival

 

i

 

Section 6.02.  Indemnification
ARTICLE 7
MISCELLANEOUS
Section 7.01.  Notices
Section 7.02.  No Waivers; Amendments
Section 7.03.  Exclusivity
Section 7.04.  Termination
Section 7.05.  Successors And Assigns
Section 7.06.  Governing Law
Section 7.07.  Jurisdiction
Section 7.08.  WAIVER OF JURY TRIAL
Section 7.09.  Counterparts; Effectiveness
Section 7.10.  Expenses
Section 7.11.  Entire Agreement
Section 7.12.  Captions; Certain Definitions
Schedule 1.02	-	Amount of Old Notes and New Notes; Taxpayer Identification Number
Exhibit A	-	Form of Indenture
Exhibit B	-	Form of Registration Rights Agreement

 

ii

 

EXCHANGE AGREEMENT

 

AGREEMENT dated as of July 23, 2004, among DeCrane Aircraft Holdings, Inc., a Delaware corporation (the “Company”), the affiliates of the Company set forth on the signature pages hereto as Guarantors (the “Guarantors”), and certain holders of the Company’s 12% Senior Subordinated Notes due 2008 (the “Old Notes”) set forth on the signature pages hereto (together with their successors and assigns, the “Holders”).

 

W  I  T  N  E  S  S  E  T  H :

 

WHEREAS, the Holders are holders of a portion the Old Notes;

 

WHEREAS, the Holders and the Company desire that the Holders exchange the Old Notes for new 17% Senior Discount Notes due 2008 of the Company (the “New Notes”) guaranteed by each of the Guarantors, to be issued pursuant to the provisions of an Indenture, substantially in the form attached hereto as Exhibit A, dated as of the Closing Date (as defined herein) (the “Indenture”) among the Company, the Guarantors named therein and U.S. Bank National Association, as Trustee  (the “Trustee”);

 

WHEREAS, in connection with the exchange of the Old Notes for the New Notes, the Company will enter into an amendment (the “Credit Agreement Amendment”) to the Third Amended and Restated Credit Agreement dated May 11, 2000 among the Company, the lenders party thereto and
 

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