Exhibit 10.1

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

 

THIS AMENDMENT NO. 2 TO CREDIT AGREEMENT dated as of June 23, 2014 (this
“Amendment”), is among TETRA TECH, INC., a Delaware corporation (the “Company”),
TETRA TECH CANADA HOLDING CORPORATION, a Canadian corporation (together with the
Company, collectively, the “Borrowers”), BANK OF AMERICA, N.A., in its
capacities as the Administrative Agent (in such capacity, the “Administrative
Agent”) and a Lender, each of the other Lenders party hereto and each of the
Subsidiary Guarantors party hereto.

 

RECITALS:

 

A.                                    The Borrowers, the Lenders and the
Administrative Agent have entered into an Amended and Restated Credit Agreement
dated as of May 7, 2013 (as amended by an Amendment No. 1 to Credit Agreement
dated as of September 27, 2013, the “Credit Agreement”).  Capitalized terms used
and not otherwise defined herein shall have the meanings ascribed to them in the
Credit Agreement.

 

B.                                    The Subsidiary Guarantors and the
Administrative Agent have entered into Subsidiary Guaranties dated of even date
with the Credit Agreement (the “Subsidiary Guaranties”) and various Security
Instruments.

 

C.                                    The Borrowers have requested to amend the
Credit Agreement as set forth below.

 

D.                                    Subject to the terms and conditions set
forth below, the parties hereto have agreed to so amend the Credit Agreement.

 

In furtherance of the foregoing, the parties agree as follows:

 

Section 1.                                          Amendment to Credit
Agreement.  Subject to the covenants, terms and conditions set forth herein and
in reliance upon the representations and warranties set forth herein, clause
(c) of Section 7.06 of the Credit Agreement is amended and restated in its
entirety to read as follows:

 

(c)                                  so long as no Default shall have occurred
and be continuing at the time of any action described below or would result
therefrom and, after giving effect thereto (and any incurrence of Indebtedness
in connection therewith), the Company and its Subsidiaries shall be in pro forma
compliance with the financial covenants set forth in Section 7.11, such
compliance to be determined on the basis of financial information most recently
delivered to the Administrative Agent pursuant to Section 6.01(a) or (b), the
Company may, during each fiscal year (beginning with the fiscal year that begins
on September 29, 2014), make Permitted Share Repurchases in an amount equal to
the greater of $75,000,000 or 7.5% of Consolidated Net Worth as of the end of
the immediately preceding fiscal year (without any carry forward of unused
portions of such basket to subsequent fiscal years);

 

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The amendment to the Credit Agreement is limited to the extent specifically set
forth above and no other terms, covenants or provisions of the Loan Documents
are intended to be affected hereby.

 

Section 2.                                          Conditions Precedent.  The
parties hereto agree that the amendment set forth in Section 1 above shall not
be effective until the satisfaction of each of the following conditions
precedent:

 

(a)                                 Documentation.  The Administrative Agent
shall have received a counterpart of this Amendment, duly executed and delivered
by the Borrowers, the Subsidiary Guarantors and the Required Lenders.

 

(b)                                 Legal Fees and Expenses.  All fees and
expenses of counsel to the Administrative Agent estimated to date shall have
been paid in full (without prejudice to final settling of accounts for such fees
and expenses).

 

Section 3.                                          Representations And
Warranties.

 

(a)                                 In order to induce the Administrative Agent
and the Lenders to enter into this Amendment, each Borrower represents and
warrants to the Administrative Agent and the Lenders as follows:

 

(i)                                     The representations and warranties of
the Borrowers and the other Loan Parties contained in Article V of the Credit
Agreement or any other Loan Document are true and correct on and as of the date
hereof, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they are true and correct
as of such earlier date, and except that for purposes of this Amendment, the
representations and warranties contained in Sections 5.05(a) and (b) of the
Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to Sections 6.01(a) and (b) of the Credit Agreement,
respectively.

 

(ii)                                  Since the date of the Audited Financial
Statements, there has been no event or circumstance, either individually or in
the aggregate, that has had or could reasonably be expected to have a Material
Adverse Effect.

 

(iii)                               No Default has occurred and is continuing or
will exist after giving effect to this Amendment.

 

(b)                                 In order to induce the Administrative Agent
and the Lenders to enter into this Amendment, each Borrower and each Subsidiary
Guarantor represents and warrants to the Administrative Agent and the Lenders
that this Amendment has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation.

 

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Section 4.                                          Miscellaneous.

 

(a)                                 Ratification and Confirmation of Loan
Documents.  Each Borrower and each Subsidiary Guarantor hereby consents,
acknowledges and agrees to the amendment set forth herein and hereby confirms
and ratifies in all respects the Loan Documents to which such Person is a party
(including without limitation, with respect to each Subsidiary Guarantor, the
continuation of its payment and performance obligations under the Subsidiary
Guaranty to which it is a party upon and after the effectiveness of the
amendment contemplated hereby and, with respect to each Borrower and each
Subsidiary Guarantor, the continuation and extension of the liens granted under
the Security Instruments to secure the Secured Obligations, in each case after
giving effect to the amendment set forth herein).

 

(b)                                 Fees and Expenses.  The Company shall pay on
demand all reasonable costs and expenses of the Administrative Agent in
connection with the preparation, negotiation, execution, and delivery of this
Amendment and any other documents prepared in connection herewith, including,
without limitation, the reasonable fees and out-of-pocket expenses of counsel
for the Administrative Agent.

 

(c)                                  Headings.  Section and subsection headings
in this Amendment are included herein for convenience of reference only and
shall not constitute a part of this Amendment for any other purpose or be given
any substantive effect.

 

(d)                                 Governing Law; Jurisdiction; Waiver of Jury
Trial; Etc.  This Amendment shall be governed by and construed in accordance
with the laws of the State of New York, and shall be further subject to the
provisions of Sections 10.14 and 10.15 of the Credit Agreement.

 

(e)                                  Counterparts.  This Amendment may be
executed in any number of counterparts, each of which when executed and
delivered shall be deemed to be an original, and all of which when taken
together shall constitute one and the same agreement.  Delivery of an executed
counterpart of a signature page of this Amendment by facsimile or electronic
transmission (including .pdf file) shall be effective as delivery of a manually
executed counterpart hereof.

 

(f)                                   Entire Agreement.  This Amendment,
together with all the Loan Documents (collectively, the “Relevant Documents”),
sets forth the entire understanding and agreement of the parties hereto in
relation to the subject matter hereof and supersedes any prior negotiations and
agreements among the parties relating to such subject matter.  No promise,
condition, representation or warranty, express or implied, not set forth in the
Relevant Documents shall bind any party hereto, and no such party has relied on
any such promise, condition, representation or warranty.  Each of the parties
hereto acknowledges that, except as otherwise expressly stated in the Relevant
Documents, no representations, warranties or commitments, express or implied,
have been made by any party to the other in relation to the subject matter
hereof or thereof.  None of the terms or conditions of this Amendment may be
changed, modified, waived or canceled orally or otherwise except in writing in
accordance with Section 10.01 of the Credit Agreement.

 

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(g)                                  Enforceability.  Should any one or more of
the provisions of this Amendment be determined to be illegal or unenforceable as
to one or more of the parties hereto, all other provisions nevertheless shall
remain effective and binding on the parties hereto.

 

(h)                                 Successors and Assigns.  This Amendment
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns (subject to Section 10.06 of the Credit
Agreement).

 

[Remainder of Page Intentionally Left Blank; Signature Pages Follow]

 

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The following parties have caused this Amendment to be executed as of the date
first written above.

 

 

BORROWERS:

 

 

 

TETRA TECH, INC.

 

 

 

 

By:

/s/ Dan L. Batrack

 

Name:

Dan L. Batrack

 

Title:

Chairman and Chief Executive Officer

 

 

 

 

TETRA TECH CANADA HOLDING CORPORATION

 

 

 

 

By:

/s/ Dan L. Batrack

 

Name:

Dan L. Batrack

 

Title:

President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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SUBSIDIARY GUARANTORS:

 

 

 

ADVANCED MANAGEMENT TECHNOLOGY, INC.

 

AMERICAN ENVIRONMENTAL GROUP, LTD.

 

ARD, INC.

 

ARDAMAN & ASSOCIATES, INC.

 

COSENTINI ASSOCIATES, INC.

 

PRO-TELLIGENT, LLC

 

ROONEY ENGINEERING, INC.

 

TETRA TECH CONSTRUCTION, INC.

 

TETRA TECH EC, INC.

 

TETRA TECH ES, INC.

 

TETRA TECH TESORO, INC.

 

WESTERN UTILITY CONTRACTORS, INC.

 

BPR INC.

 

BPR - BÂTIMENT INC.

 

BPR-ÉNERGIE INC.

 

BPR-INFRASTRUCTURE INC.

 

PARKLAND PIELINE CONTRACTORS LTD.

 

PARKLAND PIPELINE EQUIPMENT LTD.

 

PARK L PROJECTS LTD.

 

TETRA TECH EBA INC.

 

TETRA TECH INDUSTRIEL INC.

 

TETRA TECH INDUSTRIES INC.

 

TETRA TECH OGD INC.

 

TETRA TECH WEI INC.

 

 

 

 

By:

/s/ Dan L. Batrack

 

Name:

Dan L. Batrack

 

Title:

Vice President

 

 

 

 

TETRA TECH EXECUTIVE SERVICES, INC.

 

 

 

 

By:

/s/ Dan L. Batrack

 

Name:

Dan L. Batrack

 

Title:

Chief Executive Officer

 

 

 

 

TETRA TECH HOLDING LLC

 

 

 

 

By:

TETRA TECH, INC., its Sole Member

 

 

 

 

 

 

By:

/s/ Dan L. Batrack

 

 

Name:

Dan L. Batrack

 

 

Title:

Chairman and Chief Executive Officer

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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ADMINISTRATIVE AGENT:

 

 

 

BANK OF AMERICA, N.A., as Administrative Agent

 

 

 

 

By:

    /s/ Robert J. Rittelmeyer

 

Name:

Robert J. Rittelmeyer

 

Title:

Vice President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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LENDERS:

 

 

 

BANK OF AMERICA, N.A.

 

 

 

 

By:

   /s/ Arthur Ng

 

Name:

Arthur Ng

 

Title:

Vice President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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U.S. BANK NATIONAL ASSOCIATION

 

 

 

 

By:

        /s/ Marty McDonald

 

Name: Marty McDonald

 

Title: AVP

 

 

 

 

 

U.S. BANK NATIONAL ASSOCIATION,

 

CANADA BRANCH

 

 

 

 

By:

        /s/ Paul Rodgers

 

Name: Paul Rodgers

 

Title: Principal Officer

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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WELLS FARGO BANK, N.A.

 

 

 

 

By:

        /s/ Catherine Abe

 

Name: Catherine Abe

 

Title: Senior Vice President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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BANK OF MONTREAL

 

 

 

 

By:

        /s/ Michael Gift

 

Name: Michael Gift

 

Title: Vice President

 

 

 

 

 

 

By:

        /s/ Sean Gallaway

 

Name: Sean Gallaway

 

Title: Vice President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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HSBC BANK USA, NATIONAL ASSOCIATION

 

 

 

 

By:

        /s/ Matthew Niemenberg

 

Name: Matthew Niemenberg

 

Title: Vice President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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UNION BANK, N.A.

 

 

 

 

By:

        /s/ Susan J. Swerdloff

 

Name: Susan J. Swerdloff

 

Title: Senior Vice President

 

 

 

 

 

UNION BANK, Canada Branch

 

 

 

 

By:

        /s/ Anne Collins

 

Name: Anne Collins

 

Title: Vice President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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SUMITOMO MITSUI BANKING CORPORATION

 

 

 

 

By:

        /s/ James D. Weinstein

 

Name: James D. Weinstein

 

Title: Managing Director

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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THE BANK OF NOVA SCOTIA

 

 

 

 

By:

        /s/ Eugene Dempsey

 

Name: Eugene Dempsey

 

Title: Director

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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THE NORTHERN TRUST COMPANY

 

 

 

 

By:

        /s/ Brandon C. Rolek

 

Name: Brandon C. Rolek

 

Title: Senior Vice President

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

Signature Page

 

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