Document:

ex_273330.htm

Exhibit 10.1

 

CONSENT AGREEMENT

 

THIS CONSENT AGREEMENT dated as of August 6, 2021 (this “Agreement”) is entered into among ModivCare Inc. (formerly known as The Providence Service Corporation), a Delaware corporation (the “Borrower”), the Guarantors, the Lenders party hereto and Bank of America, N.A., as Administrative Agent. All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Credit Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Borrower, the Guarantors, the Lenders and Bank of America, N.A., as Administrative Agent, entered into that certain Amended and Restated Credit and Guaranty Agreement dated as of August 2, 2013 (as amended by that certain First Amendment and Consent dated as of May 28, 2014, by that certain Second Amendment and Consent dated October 23, 2014, by that certain Third Amendment and Consent dated September 3, 2015, by that certain Fourth Amendment and Consent dated August 28, 2016, by that certain Fifth Amendment dated as of June 7, 2018, by that certain Sixth Amendment dated as of July 12, 2019, by that certain Seventh Amendment dated as of May 6, 2020, and by that certain Eighth Amendment dated as of October 16, 2020, the “Credit Agreement”);

 

WHEREAS, the Borrower has informed the Administrative Agent and the Lenders that it intends to acquire the Equity Interests of VRI Intermediate Holdings, LLC, a Delaware limited liability company (the “Target”), pursuant to the terms of that certain securities purchase agreement with the Target, VRI Ultimate Holdings, LLC, a Delaware limited liability company and Victory Health Holdings, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Borrower (the “Anticipated Acquisition”); and

 

WHEREAS, in connection with the Anticipated Acquisition, the Borrower or one of its Subsidiaries will issue senior unsecured notes (the “2021 Notes”), the proceeds of which shall be placed in escrow pending the consummation of the Anticipated Acquisition;

 

WHEREAS, the Borrower has requested that the Lenders provide the consent set forth below.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.         Consent. The Required Lenders hereby agree that (a) the definition of “Escrow Issuer” in Section 1.01 of the Credit Agreement shall be deemed to include any Subsidiary established for purposes of the issuance of the 2021 Notes, (b) the definition of “Escrow Notes” in Section 1.01 of the Credit Agreement shall be deemed to include the 2021 Notes, and (c) the Indebtedness under the 2021 Notes shall be deemed to be Permitted Junior Debt notwithstanding the Liens on Escrow Funds granted in favor of any Escrow Agent. The above consent shall not modify or affect the Loan Parties' obligations to comply fully with the terms of the Credit Agreement or any other duty, term, condition or covenant contained in the Credit Agreement or any other Loan Document in the future. The consent is limited solely to the specific consent identified above and nothing contained in this Agreement shall be deemed to constitute a future waiver of any other rights or remedies the Administrative Agent or any Lender may have under the Credit Agreement or any other Loan Document or under applicable law.

 

2.         Conditions Precedent. This Agreement shall be effective upon execution and delivery of counterparts hereof by the Borrower, the Guarantors, the Required Lenders and the Administrative Agent.

 

 

 

 

3.          Agreement on Escrow Funds. Notwithstanding anything else to the contrary in the Credit Agreement or any other Loan Document, the parties hereto agree that any assets subject to a Lien described in Section 8.01(aa) of the Credit Agreement, for so long as such assets shall be subject to such Lien, shall not constitute Collateral under the Credit Agreement or any Loan Document, and the Administrative Agent and the Secured Parties (as defined in the Security and Pledge Agreement) shall not be entitled to, and shall not have, a Lien thereon securing the Obligations.

 

4.          Miscellaneous.

 

(a) The Credit Agreement, Security Agreement and Pledge Agreement and the obligations of the Loan Parties thereunder and under the other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect according to their terms. This Agreement is a Loan Document.

 

(b) Each Guarantor (i) acknowledges and consents to all of the terms and conditions of this Agreement, (ii) affirms all of its obligations under the Loan Documents, and (iii) agrees that this Agreement and all documents executed in connection herewith do not operate to reduce or discharge its obligations under the Credit Agreement or the other Loan Documents.

 

(c) The Borrower and the Guarantors hereby represent and warrant as follows:

 

(i) Each Loan Party has taken all necessary action to authorize the execution, delivery and performance of this Agreement.

 

(ii) This Agreement has been duly executed and delivered by the Loan Parties and constitutes each of the Loan Parties’ legal, valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be limited by Debtor Relief Laws and by general principles of equity and principles of good faith and fair dealing.

 

(iii) No approval, consent, exemption, authorization or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement other than (A) those approvals, consents, exemptions, authorizations or other actions, notices or filings, that have already been obtained, taken, given or made and are in full force and effect, (B) filings and recordings necessary to perfect and continue certain Liens on the Collateral created by the Collateral Documents and (C) recording of the transfer of registrations and applications for IP Rights upon foreclosure.

 

(d) The Loan Parties represent and warrant to the Lenders that (i) the representations and warranties of the Loan Parties set forth in Article VI of the Credit Agreement and in each other Loan Document are (i) with respect to representations and warranties that contain a materiality qualification, true and correct on and as of the date hereof and (ii) with respect to representations and warranties that do not contain a materiality qualification, true and correct in all material respects as of the date hereof with the same effect as if made 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 shall be true and correct or true and correct in all material respects, as applicable, as of such earlier date and (ii) no event has occurred and is continuing which constitutes a Default or an Event of Default.

 

 

 

 

(e) This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. This Agreement and any other Loan Document may be executed and delivered by electronic means (including electronic image, facsimile, “.pdf”, “.tif” and “.jpeg”), and thereupon such agreement, certificate or instrument shall be treated in each case and in all manner and respects and for all purposes as an original agreement, certificate or instrument and shall be considered to have the same binding legal effect as if it were an original manually-signed counterpart thereof delivered in person. No party to this Agreement or any other Loan Document shall assert the fact that electronic means were used to make or deliver a signature, or the fact that any signature, agreement, certificate or instrument was created, transmitted or communicated through the use of electronic means, as a defense to the formation, effectiveness, validity or enforceability of any such agreement, certificate or instrument.

 

(f) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

(g) EACH PARTY HERETO AGREES AS SET FORTH IN SECTION 11.15 OF THE CREDIT AGREEMENT AS IF SUCH SECTION WERE SET FORTH IN FULL HEREIN.

 

[SIGNATURE PAGES FOLLOW]

 

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

	GUARANTORS:	MODIVCARE SOLUTIONS, LLC	 
	 	(formerly known as Logisticare Solutions, LLC)	 
	 	 	 	 
	 	By:	/s/ L. Heath Sampson	 
	 	Name:	L. Heath Sampson	 
	 	Title:	Chief Financial Officer	 
	 	 	 	 
	 	
			HEALTH TRANS, INC.

			RED TOP TRANSPORTATION, INC.

			RIDE PLUS, LLC

			PROVADO TECHNOLOGIES, LLC

			CIRCULATION, INC.

			NATIONAL MEDTRANS, LLC

			CALIFORNIA MEDTRANS NETWORK MSO LLC

			CALIFORNIA MEDTRANS NETWORK IPA LLC

			FLORIDA MEDTRANS NETWORK MSO LLC

			FLORIDA MEDTRANS NETWORK LLC

			METROPOLITAN MEDICAL TRANSPORTATION IPA, LLC

			TRIMED, LLC

			CIRCULATION, INC.

			OEP AM, INC.

			SOCRATES HEALTH HOLDINGS, LLC

			(formerly known as Socrates LLC)

				 
	 	 	 	 
	 	By:	/s/ L. Heath Sampson	 
	 	Name:	L. Heath Sampson	 
	 	Title:	Treasurer	 
	 	 	 	 
	 	AM INTERMEDIATE HOLDCO, INC.	 
	 	AM HOLDCO, INC.	 
	 	 	 	 
	 	By:	/s/ David Middleton	 
	 	Name:	David Middleton	 
	 	Title:	President, Chief Executive Officer and Secretary	 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

	 	
			ALL METRO HEALTH CARE SERVICES, INC.

			ALL METRO HOME CARE SERVICES, INC.

			ALL METRO MANAGEMENT AND PAYROLL SERVICES CORPORATION

			ALL METRO HOME CARE SERVICES OF NEW YORK, INC.

			CGA HOLDCO, INC.

				 
	 	 	 	 
	 	By:	/s/ David Middleton	 
	 	Name:	David Middleton	 
	 	Title:	President and Chief Executive Officer	 
	 	 	 	 
	 	
			CAREGIVERS AMERICA, LLC

			MULTICULTURAL HOME CARE, INC.

			ARSENS HOME CARE, INC.

			HELPING HAND HOME

			HEALTH CARE AGENCY, INC.

			A&B HOMECARE SOLUTIONS, LLC

				 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ David Middleton	 
	 	Name:	David Middleton	 
	 	Title:	Chief Executive Officer	 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

	ADMINISTRATIVE AGENT:	BANK OF AMERICA, N.A.,	 
	 	as Administrative Agent	 
	 	 	 	 
	 	By:	/s/ Linda E. C. Alto	 
	 	Name:	Linda E. C. Alto	 
	 	Title:	Senior Vice President	 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

	LENDERS:	BANK OF AMERICA, N.A.,	 
	 	as a Lender, Swing Line Lender and L/C Issuer	 
	 	 	 	 
	 	By:	/s/ Linda E. C. Alto	 
	 	Name:	Linda E. C. Alto	 
	 	Title:	Senior Vice President	 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

	 	TRUIST BANK,	 
	 	as a Lender	 
	 	 	 	 
	 	By:	/s/ James Ford	 
	 	 	Name: James Ford	 
	 	 	Title: Managing Director	 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

	 	JPMORGAN CHASE BANK, N.A.,	 
	 	as a Lender	 
	 	 	 	 
	 	By:	/s/ Erik Barragan	 
	 	Name:	Erik Barragan	 
	 	Title:	Authorized Officer	 

 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

 

 

	 	BMO HARRIS BANK, N.A.	 
	 	as a Lender	 
	 	 	 	 
	 	By:	/s/ Patrick Epum	 
	 	Name:	Patrick Epum	 
	 	Title:	Director & Team Leader	 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

	 	REGIONS BANK,	 
	 	as a Lender	 
	 	 	 	 
	 	By:	/s/ Ned Spitzer	 
	 	Name:	Ned Spitzer	 
	 	Title:	Managing Director	 

 

 

 

[Signature Page to Consent Agreement] 

 

 

 

 

 

	 	DEUTSCHE BANK AG NEW YORK BRANCH,	 
	 	as a Lender	 
	 	 	 	 
	 	By:	/s/ Yumi Okabe	 
	 	Name:	Yumi Okabe	 
	 	Title:	Vice President	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Michael Strobel	 
	 	Name:	Michael Strobel	 
	 	Title:	Vice President	 

 

 

 

[Signature Page to Consent Agreement]Exhibit
4.2

 

NUMBER

C-

SHARES

SEE
REVERSE FOR

CERTAIN
DEFINITIONS

CUSIP
[●]

 

CANNA-GLOBAL
ACQUISITION CORP

 

INCORPORATED
UNDER THE LAWS OF THE STATE OF DELAWARE

CLASS A COMMON STOCK

 

This
Certifies that

_______________________________________________________________________________is the owner of ___________________________________________________________________________________________

 

FULLY
PAID AND NON-ASSESSABLE SHARES OF CLASS A COMMON STOCK,

PAR
VALUE $0.000001, OF

CANNA-GLOBAL
ACQUISITION CORP

(THE “COMPANY”)

 

transferable
on the books of the Company in person or by duly authorized attorney upon surrender of this certificate properly endorsed.

 

The
Company will be forced to redeem all of its shares of Class A common stock if it does not complete an initial business combination by
the date set forth in the Company’s amended and restated certificate of incorporation, as the same may be amended from time to
time, all as more fully described in the Company’s final prospectus dated ________, 2021.

 

This
certificate is not valid unless countersigned by the Transfer Agent and registered by the Registrar. Witness the facsimile signatures
of its duly authorized officers.

 

		 	
	Chief
    Executive Officer 	 	Secretary

 

CANNA-GLOBAL
ACQUISITION CORP

 

The
Company will furnish without charge to each stockholder who so requests a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations,
or restrictions of such preferences and/or rights. This certificate and the shares represented thereby are issued and shall be held subject
to all the provisions of the Company’s amended and restated certificate of incorporation and all amendments thereto and resolutions
of the Company’s Board of Directors providing for the issue of securities (copies of which may be obtained from the Secretary of
the Company), to all of which the holder of this certificate by acceptance hereof assents. The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws
or regulations:

 

TEN
COM – ____ as Tenants in Common

TEN
ENT – ____ as Tenants by the Entirety

JT
TEN – ____ as joint tenants with right of survivorship and not as tenants in common

UNIF
GIFT MIN ACT — ____________ Custodian _______________ under Uniform Gifts to Minors Act ______

	(Cust)	(Minor)	(State)	 

 

    	 

     

    

 

Additional
abbreviations may also be used though not in the above list.

 

For
value received, _______________________________________ hereby sells, assigns and transfers unto_____________________________
(insert name and social security number of other identifying number of assignee) whose address is _____________________________________________,
____________________shares of the Class A common stock represented by the within Certificate, and hereby irrevocably constitutes and
appoints ________________ Attorney to transfer the said stock on the books of the within named Company with full power of substitution
in the premises.

 

	Dated:
    		 		 
	 		 	(legal
    signature)	 	 

 

Notice:
The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular without
alteration or enlargement or any change whatsoever.

 

Signature(s)
Guaranteed: __________________________

 

The
signature must be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings & loan associations and credit unions
with membership in an approved signature guarantee medallion program pursuant to SEC Rule 17a d-15 (or any successor rule) under the
Securities Exchange Act of 1934, as amended).

 

In
each case, as more fully described in the Company’s final prospectus for its initial public offering dated __________, 2021, the
holder(s) of this certificate shall be entitled to receive a pro rata portion of certain funds held in the trust account established
in connection with the Company’s initial public offering only in the event that (i) the Company redeems the shares of Class A common
stock sold in the Company’s initial public offering and liquidates because it does not consummate an initial business combination
by the date set forth in the Company’s amended and restated certificate of incorporation, (ii) the Company redeems the shares of
Class A common stock sold in its initial public offering in connection with a stockholder vote to amend the Company’s amended and
restated certificate of incorporation (a) to modify the substance or timing of the Company’s obligation to allow redemptions in
connection with its initial business combination or to redeem 100% of the Class A common stock if it does not consummate an initial business
combination by the date set forth in the Company’s amended and restated certificate of incorporation or (b) with respect to any
other material provisions relating to stockholders’ rights or pre-initial business combination activity, or (iii) if the holder(s)
seek(s) to redeem for cash his, her or its respective shares of Class A common stock in connection with a tender offer (or proxy solicitation,
solely in the event the Company seeks stockholder approval of the proposed initial business combination) setting forth the details of
a proposed initial business combination. In no other circumstances shall the holder(s) have any right or interest of any kind in or to
the trust account.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]