Exhibit 10.3


 


August 7, 2018


 


Hudson Technologies Company


14th Floor


One Blue Hill Plaza


P.O. Box 1541


Pearl River, New York
10965


Attention: Brian F. Coleman,
President, COO


 


Extension Letter


 


We refer to that certain
Term Loan Credit and Security Agreement, dated as of October 10, 2017 (as amended by that Limited Waiver and First Amendment to
Term Loan Credit and Security Agreement and Certain Other Documents, dated as of June 29, 2018 (as modified by that certain Extension
Letter, dated as of July 31, 2017, the “First Amendment”), and as may be further amended, restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), by and among Hudson
Technologies Company, a Tennessee corporation (“Hudson Technologies”), HUDSON HOLDINGS, INC.,
a Nevada corporation (“Holdings”), and ASPEN REFRIGERANTS, INC. (formerly known as AIRGAS-REFRIGERANTS,
INC.), a Delaware corporation (“ARI” and together with Hudson Technologies, and Holdings, collectively,
the “Borrowers”, and each a “Borrower”), the other Credit Parties hereto, the financial institutions
party thereto as lenders (the “Lenders”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association,
as collateral agent and administrative agent for the Lenders (in such capacities, the “Agent”). Capitalized
terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement or the Amendment,
as applicable.


 


At the request of the
Borrowers, Agent and Lenders have agreed that the date for compliance with the Total Leverage Ratio covenant set forth in Section
1.1 of the First Amendment shall be extended to August 14, 2018. Accordingly, effective as of the date hereof, Borrowers, Agent,
and Lenders agree that the text “August 7, 2018” in Section 1.1 of the First Amendment is hereby replaced with the
text “August 14, 2018”.


 


Except as expressly
provided herein, the Credit Agreement and each Other Document shall continue in full force and effect, and the extension set forth
above is limited solely to the matters stated above and shall not be deemed to be a waiver or amendment of any other provision
of the Credit Agreement or any Other Document. Without limiting the foregoing, the Administrative Agent and the Lenders expressly
reserve all of their rights, powers, privileges and remedies under the Credit Agreement, the other Documents and applicable law.
This letter agreement shall constitute an Other Document under the terms of the Credit Agreement. The governing law, jurisdiction,
service of process and waiver of jury trial provisions set forth in Sections 14.1 and 11.8 of the Credit Agreement are hereby incorporated
by reference, mutatis mutandis. This letter agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns. The Credit Agreement (as modified by this letter agreement) and the Other Documents
embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if
any, relating to the subject matter hereof. This letter agreement may be executed and delivered via facsimile or email (in .pdf
format) transmission with the same force and effect as if an original were executed, and may be executed in original counterparts
each of which counterpart shall be deemed an original document but all of which counterparts together shall constitute one and
the same agreement.


 






    


     


    

 


By their execution
hereof, Lenders hereby instruct and direct Agent to execute this letter agreement.


 


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	 	Very truly yours,
	 	 
	 	AGENT:
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, 
	 	as Agent
	 	 
	 	 
	 	By:   /s/ Lisa Dowd                                              
	 	Name: Lisa Dowd
	 	Title: Vice President



 


 


		cc:	Wiggin and Dana LLP



Two Stamford Plaza


281 Tresser Boulevard


Stamford, Connecticut
06901


Attention: Michael
Grundei, Esq.


 


 






    Signature Page to Extension Letter – Hudson Technologies


     


    

 


	 	LENDERS:
	 	 
	 	FS INVESTMENT CORPORATION
	 	By:  /s/ Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	FS INVESTMENT CORPORATION II
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	FS INVESTMENT CORPORATION III
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	FS INVESTMENT CORPORATION IV
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	HAMILTON STREET FUNDING LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	GREEN CREEK LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	JUNIATA RIVER LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	JEFFERSON SQUARE FUNDING LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory




 


 






    Signature Page to Extension Letter – Hudson Technologies


     


    

 


Acknowledged and agreed:


 


 


BORROWERS:


 


HUDSON TECHNOLOGIES COMPANY


 


 


By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President


 


HUDSON HOLDINGS, INC.


 


 


By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President


 


ASPEN REFRIGERANTS, INC.


 


 


By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President


 


 


GUARANTOR:


 


HUDSON TECHNOLOGIES, INC.


 


 


By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President


 


 






    Signature Page to Extension Letter – Hudson Technologies