Exhibit 10.2

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EXECUTION VERSION

 
                                   FIRST AMENDMENT dated as of April 25, 2012
(this “Amendment”)
                               to the CREDIT AGREEMENT dated as of February 16,
2012 (the “Credit Agreement”),
                               among COSTAR GROUP, INC. (the “Borrower”), COSTAR
REALTY INFORMATION,
                               INC. (the “Co-Borrower”), the Lenders from time
to time party thereto and JPMORGAN
                               CHASE BANK, N.A., as Administrative Agent (in
such capacity, the “Administrative
                               Agent”).
 
WHEREAS the Borrower has requested that the Lenders agree to amend certain
provisions of the Credit Agreement and each of the Lenders is willing to effect
such amendment on the terms and subject to the conditions set forth herein.
 
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:
 
SECTION 1. Defined Terms.  Capitalized terms used but not defined herein shall
have the meanings assigned to such terms in the Credit Agreement.
 
SECTION 2. Amendment to the Credit Agreement.   Section 1.01 of the Credit
Agreement is hereby amended by replacing the reference to “April 30, 2012” in
the definition of “Commitment Termination Time” with a reference to “May 31,
2012”.
 
SECTION 3. Representations and Warranties.  The Borrower hereby represents and
warrants to the Administrative Agent that (a) this Amendment has been duly
executed and delivered by the Borrower and the Co-Borrower and constitutes a
legal, valid and binding obligation of the Borrower and the Co-Borrower, as the
case may be, enforceable against it in accordance with its terms, subject to
applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and to general principles of equity,
regardless of whether considered in a proceeding in equity or at law, and (b) on
and as of the Amendment Effective Date (as defined below) (i) the
representations and warranties set forth in Article III of the Credit Agreement
are true and correct (x) in the case of the representations and warranties
qualified as to materiality, in all respects and (y) otherwise, in all material
respects, except in the case of any such representation and warranty that
expressly relates to a prior date, in which case such representation and
warranty was true and correct on and as of such prior date, and (ii) no Default
has occurred and is continuing.
 
SECTION 4. Effectiveness.  This Amendment shall become effective, as of the date
first above written, on the date (the “Amendment Effective Date”) on which the
Administrative Agent shall have received (a) duly executed counterparts hereof
that, when taken together, bear the signatures of the Administrative Agent, the
Borrower, the Co-Borrower and each of the Lenders, and (b) duly executed
counterparts of the Amendment Letter dated the date hereof among the Borrower,
JPMorgan Chase Bank, N.A. (“JPMCB”) and J.P. Morgan Securities LLC (“J.P.
Morgan”) that, when taken together, bear the signatures of the Borrower, JPMCB
and J.P. Morgan.
 
SECTION 5. Effect of Amendment.  (a)  Except as expressly set forth herein, this
Amendment shall not by implication or otherwise limit, impair, constitute a
waiver of or otherwise affect the rights and remedies of the Administrative
Agent, the Issuing Banks or the Lenders under the Credit Agreement and the other
Loan Documents, and shall not alter, modify, amend or in any way affect any of
the terms, conditions, obligations, covenants or agreements contained in the
Credit Agreement or any of the other Loan Documents, all of which are ratified
and affirmed in all respects and shall continue in full force and
effect.  Nothing herein shall be deemed to entitle the Borrower to a consent to,
or a waiver, amendment, modification or other change of, any of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement as amended hereby in similar or different circumstances.
 
(b) On and after the Amendment Effective Date, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like
import, and each reference in any other Loan Document to the “Credit Agreement”,
shall be deemed to be a reference to the Credit Agreement as amended hereby.
 
SECTION 6. Applicable Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH
AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
 
SECTION 7. Counterparts.  This Amendment may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a
single contract.  Delivery of an executed counterpart of a signature page of
this Amendment by facsimile or other electronic imaging shall be as effective as
delivery of a manually executed counterpart of this Amendment.
 

 
 

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IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of
the day and year first above written.
 
COSTAR GROUP, INC.,
by
  /s/ Charles A. Colligan          
Name:  Charles A. Colligan
 
Title:  Treasurer

COSTAR REALTY INFORMATION, INC.,
by
   /s/ Charles A. Colligan         
Name:  Charles A. Colligan
 
Title:  Treasurer

[Signature Page to First Amendment]
 
 
 

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JPMORGAN CHASE BANK, N.A.,
individually and as Administrative Agent,
By
  /s/ Alicia Schreibstein          
Name:  Alicia Schreibstein
 
Title:  Vice President

[Signature Page to First Amendment]
 
 
 

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BANK OF AMERICA, N.A.,
By
  /s/ Mary K. Giermek          
Name:  Mary K. Giermek         
 
Title:  Senior Vice President

[Signature Page to First Amendment]
 
 
 

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SUNTRUST BANK,
By
  /s/ Jeffrey M. Henry         
Name:  Jeffrey M. Henry
 
Title:  Senior Vice President

[Signature Page to First Amendment]
 
 
 

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WELLS FARGO BANK, N.A.,
By
   /s/ Abigail M. Matia        
Name:  Abigail M. Matia
 
Title: SVP

 

[Signature Page to First Amendment]
 
 
 

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PNC BANK, NATIONAL ASSOCIATION,
By
   /s/ Mark Worthy            
Name:  Mark Worthy
 
Title:  AVP, Corporate Banking

 

[Signature Page to First Amendment]
 
 
 

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SILICON VALLEY BANK,
By
   /s/ Philip T. Silvia III             
Name:  Philip T. Silvia III
 
Title:  Vice President

 

[Signature Page to First Amendment]
 
 
 

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