EXHIBIT
10.52
 
 
 FORM OF
 SEVENTH MODIFICATION AGREEMENT
 (Loan Agreement)
 Modification Agreement  GREENHILL & CO., INC. FIRST REPUBLIC BANK, a Division of Bank of America, N.A.
 Loan Agreement (Loan Agreement) (Loan) Ninety Million and 00/100 Dollars ($90,000,000.00)
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 2.
 3.
 4.
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 6.
  1.
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 3.
 4.
 5.
  1.
 
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2.
 3.
  NOW THEREFORE
 1. Adoption of Recitals .
 2. Acknowledgment of Loan Documents .
 3. UCC Lien .
 4. Additional Collateral for Loan . Supplemental Security Agreement Greenhill & Co., LLC
 5. Modification of Loan Documents .
 5.1 Extension of Maturity Date of Loan .
 5.2 First Change in Loan Amount and Promissory Note .
 (a) NINETY MILLION AND NO/100THS DOLLARS
($90,000,000.00) SEVENTY-FIVE MILLION AND NO/100THS DOLLARS ($75,000,000.00).
 
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(b)
 (c) SEVENTY-FIVE MILLION AND NO/100THS DOLLARS ($75,000,000.00).
 5.3 Second Change in Loan Amount and Promissory Note .
 (a) December 31, 2010 SEVENTY-FIVE MILLION AND NO/100THS DOLLARS ($75,000,000.00) SIXTY
MILLION AND NO/100THS DOLLARS ($60,000,000.00).
 (b) SIXTY MILLION AND NO/100THS DOLLARS ($60,000,000.00).
 5.4 Reporting Covenants . Exhibit A
 5.5 Financial Covenants . Exhibit
A
 (a) Minimum Tangible Net Worth . ONE HUNDRED FIFTY MILLION AND NO/100THS DOLLARS
($150,000,000.00) quarterly
 (b) Total Liabilities to Tangible Net Worth . 2.0:1 quarterly
 (c) Liquidity . $30,000,000 at
the time of each Advance under the Loan Agreement
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(d) Debt Service Coverage Ratio . 1.25 to 1 quarterly
 (e) 15-Days Out of Debt .
 (f) No Additional Indebtedness .
 (g) Borrowing Base .
 July 1, 2010 $55.0 Million
 $45.0 Million,
   
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5.6 Conditions for Advances .
 (a)
 (b)
 (c)
 (d)
 5.7 Deposit Accounts .
 5.8 Letter of Credit Sublimit .
 6. Representations and Warranties .
 6.1 Authority .
 6.2 Financial Information .
 6.3 No Defaults .
 6.4 Other Encumbrances .
 6.5 Lawsuits .
 7. No Other Modification of Loan Documents .
 
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8. Conditions Precedent .
 8.1
 8.2
 8.3
 8.4
 8.5
 8.6
 8.7
 9. Fees .
 9.1 Commitment Fee .
 9.2 Expenses and Attorneys Fees .
 9.3 Method of Payment .
 10. Events of Default and Remedies .
 10.1 Events .
 (a)
 (b)
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(c)
 10.2 Remedies .
 11. Indemnification .
 12. NO CLAIMS .
 13. Waiver and Release .
 13.1 Releasing Parties
 13.2
  13.3
 14. Continuing Effect of Loan Documents .
 
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15. Miscellaneous .
 15.1 Controlling Provisions .
 15.2 Modifications of Agreement .
 15.3 Entire Agreement . Loan Documents
 15.4 Severability .
 15.5 Descriptive Headings; Interpretation .
 15.6 No Waiver .
 15.7 Rights Cumulative .
 15.8 Time of the Essence .
 15.9 Counterparts .
 15.10 Successors and Assigns .
 15.11 Controlling Law .
 15.12 Attorneys Fees .
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15.13 Authorization .
 15.14 No Third Party Beneficiaries .
 16. REVIEW WITH INDEPENDENT COUNSEL .
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BORROWER:
    
    
    
    LENDER:GREENHILL & CO., INC.,
a Delaware corporation
    
    
    
    FIRST REPUBLIC BANK,
a Division of Bank of America, N.A.By:
    
    
    
    
    
    By:Name:
    
    
    
    
    
    Name:Title:
    
    
    
    
    
    Title:PLEDGORS:The undersigned Pledgors hereby agree
to the terms of, and are bound by,
Section 13 of this Agreement.Greenhill Capital Partners, LLC,
a Delaware limited liability companyBy:Name:Title:Greenhill Venture Partners, LLC,
a Delaware limited liability companyBy:Name:Title:Greenhill Capital Partners II LLC,
a Delaware limited liability companyBy:Name:Title:
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