Document:

Exhibit 10.1

 

Execution Version

 

THIRD AMENDMENT AND JOINDER TO AMENDED
AND RESTATED

 REVOLVING CREDIT AND SECURITY AGREEMENT AND WAIVER

 

THIS THIRD AMENDMENT
AND JOINDER TO AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT AND WAIVER (this “Amendment”), dated
as of April 17, 2019, is entered into by and among Hudson Technologies Company, a Tennessee corporation (“Hudson Technologies”),
Hudson Holdings, Inc., a Nevada corporation (“Holdings”), Aspen Refrigerants, Inc (f/k/a Airgas-Refrigerants,
Inc.), a Delaware corporation (“ARI” and together with Hudson Technologies, Holdings, and each Person joined
to the Credit Agreement as a borrower from time to time, collectively, the “Borrowers” and each individually,
a “Borrower”), Glacier International, Inc., a New York corporation (“GI”), Glacier Trading
Corp., a New York corporation (“GTC”), HFC International, Inc., a New York corporation (“HFC”),
HFC Traders, Inc., a New York corporation (“HFC Traders”), RCT International, Inc., a New York corporation (“RCT”),
RCTI Corp., a New York corporation (“RCTI”), RCTI Trading, Inc., a New York corporation (“RCTI Trading”),
RGIT, Inc., a New York corporation (“RGIT”), RGIT Trading Corp., a New York corporation (“RGIT Trading”),
and RGT Enterprises, Inc., a New York corporation (“RGT”, and together with GI, GTC, HFC, HFC Traders, RCT,
RCTI, RCTI Trading, RGIT, and RGIT Trading, collectively, the “Joining Guarantors”, and each a “Joining
Guarantor”), Hudson Technologies, Inc., a New York corporation (“HT”, and together with Joining Guarantors
and each Person joined to the Credit Agreement as a guarantor from time to time, collectively, the “Guarantors”,
and together with the Borrowers, collectively, the “Credit Parties” and each individually, a “Credit
Party”), the financial institutions which are now or which hereafter become a party thereto (collectively, the “Lenders”),
and PNC Bank, National Association (“PNC”), as collateral agent and administrative agent for Lenders (PNC, in
such capacity, the “Agent”). Capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to them in the below-defined Credit Agreement.

 

RECITALS

 

A.          The
Borrowers, HT, Lenders, and Agent have previously entered into that certain Amended and Restated Revolving Credit and Security
Agreement, dated as of October 10, 2017 (as amended hereby and as further amended, restated, amended and restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”) pursuant to which the Lenders have made certain
loans and financial accommodations available to Borrowers.

 

B.           The
Borrowers and HT have notified Agent that Holdings formed GI on April 19, 2018 and RGT, GTC, HFC, HFC Traders, RCT, RCTI, RCTI
Trading, RGIT, and RGIT Trading on May 9, 2018 (each such date, as applicable, the “Formation Date”). Section
7.12 of the Credit Agreement requires that new Subsidiaries of any Credit Party must join the Credit Agreement as a “Borrower”
and, notwithstanding such requirement, Borrowers and HT have requested, and Agent and Lenders have agreed, to (i) waive the requirement
that Joining Guarantors join the Credit Agreement and Other Documents as a “Borrower”, (ii) retroactively join the
Joining Guarantors as of the Formation Date as Guarantors to the Credit Agreement and Other Documents, including without limitation
that certain Amended and Restated Guaranty and Suretyship Agreement, dated October 10, 2017, executed by HT in favor of Agent
(as amended hereby and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time,
the, “Closing Date Guaranty”), and (iii) amend the Credit Agreement, Closing Date Guaranty and Other Documents,
all of the foregoing in certain respects as set forth herein.

 

     

     

    

 

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

 

1.            Waiver.
Upon the satisfaction of the conditions precedent set forth in Section 4 hereof, the Agent and Lenders hereby waive the requirement
that Joining Guarantors join the Credit Agreement and Other Documents as a “Borrower”. The foregoing waiver is solely
limited to the specific events stated herein and shall not apply to any breach of any of the other provisions of the Credit Agreement
or any Other Document, and shall not be deemed to be, or otherwise construed to constitute, a waiver of the subject provisions
for any events or of any Default or Event of Default arising out of any failure of any Credit Party to comply with any of the other
provisions of the Credit Agreement or the Other Documents. Agent and Lenders have granted the foregoing waiver in this particular
instance and in light of the facts and circumstances that presently exist, and the grant of such waiver shall not constitute a
course of dealing or impair Agent or any Lender’s right to withhold a waiver or any Defaults or Events of Default in the
future.

 

2.         
 Joinder. Each Joining Guarantor, retroactively on the Formation Date, joins in as, assumes the obligations and liabilities
of, adopts the obligations, liabilities and role of, and becomes a Guarantor under, the Credit Agreement, the Closing Date Guaranty
and the Other Documents to secure the Obligations. All references to Guarantor or Guarantors contained in the Credit Agreement,
the Closing Date Guaranty and the Other Documents are hereby deemed for all purposes to also refer to and include each Joining
Guarantor as a Guarantor, and each Joining Guarantor hereby agrees to comply with all terms and conditions of the Credit Agreement,
the Closing Date Guaranty and the Other Documents as if Joining Guarantor were an original signatory thereto.

 

3.            Amendments
to Credit Agreement. Upon the satisfaction of the conditions precedent set forth in Section 4 hereof, the Credit Agreement
shall be amended as follows:

 

(a)       New Definitions.The
following new definitions are hereby added to Section 1.1 of the Credit Agreement in alphabetical order as follows

 

“Beneficial
Owner” shall mean, for each Borrower, each of the following: (a) each individual, if any, who, directly or indirectly,
owns 25% or more of such Borrower’s Equity Interests; and (b) a single individual with significant responsibility to control,
manage, or direct such Borrower.

 

     

     

    

 

“Certificate
of Beneficial Ownership” shall mean, for each Borrower, a certificate in form and substance acceptable to Agent (as amended
or modified by Agent from time to time in its sole discretion), certifying, among other things, the Beneficial Owner of such Borrower.

 

“Third
Amendment” shall mean that certain Third Amendment and Joinder to Amended and Restated Revolving Credit and Security
Agreement and Waiver, dated as of the Third Amendment Effective Date, by and among the Credit Parties, the Lenders and the Agent.

 

“Third
Amendment Effective Date” shall mean the sooner to occur of April 17, 2019 and the date on which all of the conditions
precedent to the effectiveness of the Third Amendment, as set forth in Section 4 thereof, shall have occurred.

 

(b)       Existing
Definitions. The following existing definition contained in Section 1.1 of the Credit Agreement are hereby amended and restated
as follows

 

“Earnings
Before Interest and Taxes” shall mean for any period, with respect to the Credit Parties on a consolidated basis (unless
Persons other than the Credit Parties are so specified in another applicable Section or provision of this Agreement), the sum of
(i) net income (or loss) for such period (excluding extraordinary gains and losses), plus (ii) all interest expense for such period,
plus (iii) all charges against income for such period for federal, state and local taxes.

 

“Other
Documents” shall mean the Notes, any Guaranty, any Certificate of Beneficial Ownership, any Lender-Provided Interest
Rate Hedge, any perfection certificate, the Fee Letter, the Intercreditor Agreement, the mortgages, if any, and any and all other
agreements, instruments and documents, including guaranties, guaranty security agreements, pledges, subordination agreements, powers
of attorney, consents, interest or currency swap agreements or other similar agreements and all other writings heretofore, now
or hereafter executed by Borrowers or any Guarantor and/or delivered to Agent or any Lender in respect of the transactions contemplated
by this Agreement.

 

(c)       Certificate
of Beneficial Ownership. A new Section 5.25 Certificate of Beneficial Ownership is hereby added to the Credit Agreement
as follows:

 

5.25       Certificate
of Beneficial Ownership. The Certificate of Beneficial Ownership executed and delivered to Agent and Lenders for each Borrower
on or prior to the date of the Third Amendment, as updated from time to time in accordance with this Agreement, is accurate, complete
and correct as of the date hereof and as of the date any such update is delivered. Each Borrower acknowledges and agrees that the
Certificate of Beneficial Ownership is one of the Other Documents.

 

     

     

    

 

(d)       Certificate
of Beneficial Ownership. A new Section 6.15 Certificate of Beneficial Ownership and Other Additional Information is
hereby added to the Credit Agreement as follows:

 

6.15       Certificate
of Beneficial Ownership and Other Additional Information. Provide to Agent and the Lenders: (i) upon request, confirmation
of the accuracy of the information set forth in the most recent Certificate of Beneficial Ownership provided to the Agent and Lenders;
(ii) a new Certificate of Beneficial Ownership, in form and substance acceptable to Agent and each Lender, when the individual(s)
to be identified as a Beneficial Owner have changed; and (iii) such other information and documentation as may reasonably be requested
by Agent or any Lender from time to time for purposes of compliance by Agent or such Lender with applicable laws (including without
limitation the USA Patriot Act and other “know your customer” and anti-money laundering rules and regulations), and
any policy or procedure implemented by Agent or such Lender to comply therewith.

 

(e)       The
disclosure schedules to the Credit Agreement shall hereby be supplemented with the corresponding schedules attached hereto as Exhibit
A; provided that any reference in the Credit Agreement or any Other Document to any such supplemented schedule being as of the
Closing Date shall be deemed to be, for purposes of such supplemental information only, a reference to being as of the Third Amendment
Effective Date.

 

4.            Effectiveness
of this Amendment. This Amendment shall be effective upon the date of satisfaction of the following conditions precedent:

 

(a)       Agent
shall have received this Amendment executed by the Credit Parties;

 

(b)      Agent
shall have received updates to the disclosure schedules to the Credit Agreement with respect to Joining Guarantors, attached hereto
as Exhibit A, in form and substance acceptable to Agent;

 

(c)       Agent
shall have received a pledge agreement, in form and substance acceptable to Agent, executed by Holdings in favor of Agent for the
Equity Interests of each Joining Guarantor;

 

(d)       Agent
shall have received a perfection certificate for Joining Guarantors, in form and substance acceptable to Agent, executed by the
Credit Parties;

 

     

     

    

 

(e)       Agent
shall have received a Certificate of Beneficial Ownership, in form and substance acceptable to Agent, executed and delivered to
Agent and Lenders for each Borrower, and such other documentation and other information requested in connection with applicable
“know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act;

 

(f)       Agent
shall have received the executed legal opinion of counsel in form and substance satisfactory to Agent which shall cover such matters
incident to the transactions contemplated by this Amendment, the Other Documents and related agreements as Agent may reasonably
require and the Credit Parties hereby authorizes and directs such counsel to deliver such opinions to Agent and Lenders;

 

(g)       Agent
shall have received in form and substance satisfactory to Agent, certificates evidencing the addition of Joining Guarantors as
insured parties to the other Credit Parties’ casualty and liability insurance policies;

 

(h)       Agent
shall have received UCC searches, Federal and State tax lien searches, and other Lien searches run against the names of the Joining
Guarantors and any previous, alternate and fictitious names of the Joining Guarantors, as applicable, showing no existing security
interests in or Liens on the Collateral other than Permitted Encumbrances and other Liens permitted by the Agent;

 

(i)        Agent shall have received a certificate of the corporate secretary or other authorized officer
of each Credit Party, in form and substance acceptable to Agent, dated as of the Third Amendment Effective Date, which shall
certify (i) copies of resolutions in form and substance satisfactory to Agent, of the board of directors (or other equivalent
governing body, member or partner) of Holdings and each Joining Guarantor authorizing, as applicable, the execution, delivery
and performance of this Amendment and each Other Document delivered in connection herewith to which such Credit Party is a
party (including authorization of the joinder of Joining Guarantors to the Credit Agreement and each Other Document as a
Guarantor on a joint and several basis with all other Guarantors as provided for in the Credit Agreement, the Closing Date
Guaranty and the Other Documents and of Joining Guarantors’ grant of the security interests in and liens upon its
Collateral to secure the Obligations (and such certificate shall state that such resolutions have not been amended, modified,
revoked or rescinded as of the date of such certificate), (ii) the incumbency and signature of the authorized officers of
each Credit Party authorized to execute this Amendment and the Other Documents delivered in connection herewith to which it
is a party, (iii) (a) with respect to Joining Guarantors, copies of each Joining Guarantor’s certificate of
incorporation certified by the Secretary of State of the State of New York and bylaws in effect on the date hereof, complete
with all amendments thereto and (b) with respect to Borrowers and HT, either (1) a certification that the certificates or
articles of incorporation or charter, as applicable, and the bylaws previously delivered to Agent have not been amended,
modified or rescinded in any way since such delivery and remain in full force and effect as of the date hereof or (2) to the
extent of any amendments or modifications since last delivered to Agent, certificates or articles of incorporation or
charter, as applicable, certified by the Secretary of State or other appropriate official of the applicable Credit
Party’s jurisdiction of formation and bylaws, as in effect on the date hereof, complete with all amendments thereto,
and (iv) with respect to Joining Guarantors, the good standing (or equivalent status) of each Joining Guarantor in its
jurisdiction of organization and each applicable jurisdiction where the conduct of each Joining Guarantor’s business
activities or the ownership of its properties necessitates qualification, as evidenced by good standing certificate(s) (or
the equivalent thereof issued by any applicable jurisdiction) dated as of a recent date, issued by the Secretary of State or
other appropriate official of each such jurisdiction;

 

     

     

    

 

(j)        Agent
shall have received and reviewed to its satisfaction the execution version of the Joinder to Term Loan Credit and Security Agreement
and Other Documents, dated as of the date hereof, executed by Term Loan Agent and the Credit Parties (the “Term Loan Joinder”)
and all material documents, instruments and agreements to the executed and delivered in connection therewith, and all conditions
precedent to the effectiveness of the Term Loan Joinder shall have been satisfied;

 

(k)       Each
document (including any Uniform Commercial Code financing statements) required by this Amendment, any related agreement or under
law or reasonably requested by the Agent to be filed, registered or recorded in order to create, in favor of Agent, a perfected
security interest in or lien upon the Collateral shall have been properly filed, registered or recorded in each jurisdiction in
which the filing, registration or recordation thereof is so required or requested, and Agent shall have received an acknowledgment
copy, or other evidence satisfactory to it, of each such filing, registration or recordation and satisfactory evidence of the payment
of any necessary fee, tax or expense relating thereto;

 

(l)        Agent
shall have received such other agreements, instruments and information requested by Lender, in form and substance acceptable to
Agent;

 

(m)      All
of the representations and warranties contained in this Amendment shall be true and correct in all material respects; and

 

(n)       After
giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing.

 

5.            Representations
and Warranties. Each Credit Party hereby:

 

(a)       reaffirms
all representations and warranties made to Agent and Lenders under the Credit Agreement and all of the Other Documents and confirms
that all are true and correct in all material respects as of the date hereof, in each case other than representations and warranties
that relate to a specific date;

 

(b)       reaffirms
all of the covenants contained in the Credit Agreement and covenants to abide thereby until all Advances, Obligations and other
liabilities of Credit Parties to Agent and Lenders, of whatever nature and whenever incurred, are satisfied and/or released by
Agent and Lenders;

 

(c)       represents
and warrants that, after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing under the
Credit Agreement or any Other Documents;

 

     

     

    

 

(d)       represents
and warrants that no Material Adverse Effect shall have occurred as of the date of this Amendment;

 

(e)       represents
and warrants that it has the authority and legal right to execute, deliver and carry out the terms of this Amendment, that such
actions were duly authorized by all necessary corporate or company action and that the officers executing this Amendment on its
behalf were similarly authorized and empowered, and that this Amendment does not contravene any provisions of its articles of incorporation,
bylaws, certificate of formation or operating agreement or of any contract or agreement to which it is a party or by which any
of its properties are bound;

 

(f)        represents
and warrants that this Amendment, and all assignments, instruments, documents, and agreements executed and delivered in connection
herewith, are valid, binding and enforceable in accordance with their respective terms; and

 

(g)       represents
and warrants that each Credit Party is solvent, able to pay its debts as they mature, has capital sufficient to carry on its business
and all businesses in which it is about to engage, and as of the date hereof, the fair saleable value of its assets, calculated
on a going concern basis, is in excess of the amount of its liabilities.

 

6.            Payment
of Expenses. Credit Parties shall pay or reimburse Agent for its reasonable attorneys’ fees and expenses in connection
with the preparation, negotiation and execution of this Amendment and the documents provided for herein or related hereto.

 

7.      
    Security Interest. As security for the payment of the Obligations, and satisfaction by Credit
Parties of all covenants and undertakings contained in the Credit Agreement and the Other Documents, subject to the terms of
the Credit Agreement and Other Documents, (i) Borrowers and HT reconfirm the prior grant of the continuing security interest
in and perfected lien in favor of Agent for its benefit and the ratable benefit of each Lender, upon and to, all of its
right, title and interest in and to the Collateral, whether now owned or hereafter acquired, created or arising and wherever
located and (ii) each Joining Guarantor hereby assigns, pledges and grants to Agent, for its benefit and for the ratable
benefit of each Lender, a continuing security interest in and perfected lien upon and to, all of its right, title and
interest in and to the Collateral, whether now owned or hereafter acquired, created or arising and wherever located.

 

8.   
       Confirmation of Indebtedness. Borrowers confirm and acknowledge that as of the opening
of business on April 16, 2019 Borrowers were indebted to Agent and Lenders for the Advances under the Loan Agreement without
any deduction, defense, setoff, claim or counterclaim, of any nature, in the aggregate principal amount of $32,107,539.56, of
which $31,977,539.56 is owing on account of Revolving Advances and for which Borrowers are contingently liable in the amount
of $130,000.00 on account of undrawn Letters of Credit, plus all fees, costs and expenses incurred to date in connection with
the Credit Agreement and the Other Documents.

 

9.            Reaffirmation
of Other Documents. Except as modified by the terms hereof, all of the terms and conditions of the Credit Agreement, as amended,
and all other of Other Documents, are hereby reaffirmed by the Credit Parties and shall continue in full force and effect as therein
written.

 

     

     

    

 

10.          Acknowledgment
of Guarantors. Guarantors hereby covenant and agree that the Closing Date Guaranty remains in full force and effect and continues
to cover the existing and future Guaranteed Obligations (as defined therein).

 

11.          Post-Closing
Requirement. Except as otherwise required pursuant to the Intercreditor Agreement, in the event that (1) Agent shall request,
in its commercial reasonable discretion, that any Joining Guarantor issue a stock certificate evidencing the Equity Interests issued
by such Joining Guarantor or (2) irrespective of such request, if any Joining Guarantor issues such stock certificate or other
evidence of such Equity Interests for any other reason, then, in either event, such Joining Guarantor shall promptly deliver to
Agent the original of such stock certificates or other evidences of such Equity Interests, accompanied by a duly executed instrument
of transfer or assignments in blank.

 

12.          Miscellaneous.

 

(a)       No
rights are intended to be created hereunder for the benefit of any third party donee, creditor, or incidental beneficiary.

 

(b)       The
headings of any paragraph of this Amendment are for convenience only and shall not be used to interpret any provision hereof.

 

(c)       No
modification hereof or of any agreement referred to herein shall be binding or enforceable unless in writing and signed on behalf
of the party against whom enforcement is sought.

 

(d)       This
Amendment shall constitute an Other Document under the Credit Agreement, and the breach of any representation or warranty contained
herein or the failure to perform, keep or observe any term, provision, condition or covenant contained herein shall constitute
an Event of Default under the Credit Agreement.

 

13.          Choice
of Law. This Amendment and all matters relating hereto or arising herefrom (whether arising under contract law, tort law or
otherwise) shall, in accordance with Section 5-1401 of the General Obligations Law of the State of New York, be governed by and
construed in accordance with the laws of the State of New York.

 

14.          Counterparts;
Facsimile Signatures. This Amendment may be executed in any number of and by different parties hereto on separate counterparts,
all of which, when so executed, shall be deemed an original, but all such counterparts shall constitute one and the same agreement.
Any signature delivered by a party by facsimile or electronic transmission (including email transmission of a PDF image) shall
be deemed to be an original signature hereto.

 

[signature
pages follow]

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have entered into this Amendment as of the date first above written.

 

	BORROWERS:	HUDSON TECHNOLOGIES COMPANY
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	HUDSON HOLDINGS, INC.
	 	 	 
	 	By: 	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	AIRGAS-REFRIGERANTS, INC.
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	GUARANTORS:	HUDSON TECHNOLOGIES, INC.
	 	 	 
	 	By:	 /s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	GLACIER INTERNATIONAL, INC.
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	GLACIER TRADING CORP.
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	HFC INTERNATIONAL, INC.
	 	 	 
	 	By:	 /s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer

 

Signature Page to Third Amendment and Joinder
to

Amended and Restated Revolving Credit and
Security Agreement and Waiver

     

     

    

 

	 	HFC TRADERS, INC.
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	RCT INTERNATIONAL, INC.
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	RCTI CORP.
	 	 	 
	 	By:	 /s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	RCTI TRADING, INC.
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	RGIT, INC.
	 	 	 
	 	By:	 /s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	RGIT TRADING CORP.
	 	 	 
	 	By:	 /s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 
	 	RGT ENTERPRISES, INC.
	 	 	 
	 	By:	/s/ Kevin J. Zugibe
	 	Name:	Kevin J. Zugibe
	 	Title:	Chief Executive Officer
	 	 	 

 

Signature Page to Third Amendment and Joinder
to

Amended and Restated Revolving Credit and
Security Agreement and Waiver

     

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION,
	 	as a Lender and as Agent
	 	 	 
	 	By:	/s/ Glenn Kreutzer
	 	Name:	Glenn Kreutzer
	 	Title:	Senior Vice President
	 	 	 
	 	1 Garret Mountain Plaza
	 	Woodland Park, NJ 07424

 

Signature Page to Third Amendment and Joinder
to

Amended and Restated Revolving Credit and
Security Agreement and Waiver

 

     

     

    

 

	 	J.P. MORGAN CHASE BANK, N. A.
	 	as a Lender
	 	 
	 	By:	/s/ Donna DiForio
	 	Name: Donna DiForio
	 	Title: Authorized Officer
	 	 
	 	270 Park Avenue
	 	New York, New York 10017

 

Signature Page to Third Amendment and Joinder
to

Amended and Restated Revolving Credit and
Security Agreement and WaiverExhibit 10.2

 

Execution Version

 

JOINDER

 

TO

 

TERM LOAN CREDIT

AND SECURITY AGREEMENT

AND OTHER DOCUMENTS

 

THIS JOINDER (this
“Joinder”) is entered into as of April 17, 2019, 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, Glacier International, Inc., a New York corporation,
Glacier Trading Corp., a New York corporation, HFC
International, Inc., a New York corporation, HFC Traders, Inc., a New York
corporation, RCT International, Inc., a New York corporation, RCTI
Corp., a New York corporation, RCTI Trading, Inc., a New York corporation,
RGIT, Inc., a New York corporation, RGIT
Trading Corp., a New York corporation, RGT Enterprises, Inc., a New York
corporation (collectively, the “New Subsidiaries”, and each a “New Subsidiary”), the financial
institutions party hereto 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”).

 

BACKGROUND

 

The Credit Parties,
Agent and the Lenders are parties to that certain Term Loan Credit and Security Agreement, dated as of October 10, 2017 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) pursuant to which Agent
and Lenders provide the Credit Parties with certain financial accommodations.

 

Pursuant to Section
7.12 of the Credit Agreement, each New Subsidiary is required to become a Guarantor and Credit Party under the Credit Agreement
and Other Documents by, among other things, executing and delivering this Joinder to the Agent; and

 

NOW, THEREFORE, in
consideration of any loan or advance or grant of credit heretofore or hereafter made to or for the account of the Borrower by the
Agent and the Lenders, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:

 

1.            Definitions.
All capitalized terms not otherwise defined herein shall have the meanings given to them in the Credit Agreement.

 

     

     

    

 

2.            Joinder.
Subject to satisfaction of the conditions precedent set forth in Section 3 below:

 

(a)       each
New Subsidiary is hereby added as a Guarantor under the Credit Agreement and the Guaranty and Suretyship Agreement, dated as of
October 10, 2017, executed by HT, as a Guarantor, in favor of the Agent (the “Guaranty” and together with the
Credit Agreement, the “Joined Documents”), and all references to “Guarantor” or “Guarantors”
contained in the Credit Agreement or any of the Other Documents shall hereafter be deemed to include such New Subsidiary;

 

(b)       each
New Subsidiary hereby adopts each of the Joined Documents, assumes them in full, and acknowledges that it is jointly and severally
liable for the payment, discharge, satisfaction and performance of all Obligations as a Guarantor under the Joined Documents as
if it were an original signatory thereunder. Without limiting the generality of the foregoing, in order to secure the prompt payment
and performance of the Obligations to the extent provided in the Credit Agreement, each New Subsidiary hereby assigns, pledges
and grants to Agent, for its benefit and for the ratable benefit of Lenders, a continuing security interest in and to all Collateral
owned by such New Subsidiary, whether now owned or existing or hereafter acquired or arising and wherever located. Agent (or its
designee) is hereby authorized (but not obligated) to file a UCC-1 financing statement in the applicable jurisdiction to evidence
such security interest; and

 

(c)       each
New Subsidiary acknowledges that it is jointly and severally liable as a “Guarantor” under the Other Documents for
the payment, discharge, satisfaction and performance of all Obligations to the extent set forth in the Guaranty.

 

3.            Conditions
of Effectiveness. This Joinder shall become effective as of the date hereof upon satisfaction of the following conditions.
Agent and Lenders shall have received:

 

(a)       a
copy of this Joinder duly executed by Agent, Lenders, the Credit Parties and the New Subsidiaries;

 

(b)       a
Secretary’s Certificate and resolutions, all in form and substance reasonably satisfactory to Required Lenders, of the board
of directors or comparable governing body of each New Subsidiary authorizing (1) the execution, delivery and performance of this
Joinder and (2) the granting by such New Subsidiary of the Liens created by the Credit Agreement, and such certificate shall state
that the resolutions thereby certified have not been amended, modified, revoked or rescinded as of the date of such certificate;

 

(c)       a
copy of the certificate of incorporation and by-laws (or other comparable governing documents) of each New Subsidiary, and all
amendments thereto, such certificate shall have been certified by the Secretary of State or other appropriate official of its jurisdiction
of formation;

 

(d)       good
standing certificates for each New Subsidiary dated not more than thirty (30) days prior to the date of this Joinder, issued by
the Secretary of State or other appropriate official of such New Subsidiary’s jurisdiction of formation and each jurisdiction
where the conduct of such New Subsidiary’s business activities or the ownership of their respective properties necessitates
qualification to the extent not maintaining such qualification could not reasonably be expected to have a Material Adverse Effect;

 

     -2-

     

    

 

(e)       UCC,
tax and judgment (or similar foreign) lien searches with respect to the New Subsidiaries in such jurisdictions as Required Lenders
shall require, and the results of such searches shall be satisfactory to Required Lenders;

 

(f)       an
executed opinion of counsel in form and substance reasonably satisfactory to Required Lenders, which shall cover such matters which
were opined upon in the opinion letter furnished with respect to the Credit Parties on the Closing Date, as such matters apply
to each New Subsidiary;

 

(g)       a
perfection certificate completed and duly executed by the New Subsidiaries, which shall be in form and substance comparable to
the Perfection Certificate completed and furnished by the Credit Parties on the Closing Date;

 

(h)       to
the extent necessary, an updated set of schedules to any Joined Document, reflecting any additional disclosures required on account
of the New Subsidiaries; and

 

(i)       (x)
certificates evidencing each New Subsidiary’s liability and property insurance policies, (y) an endorsement to each New Subsidiary’s
property insurance naming Agent as lender loss payee, and (z) an endorsement to each New Subsidiary’s liability insurance
naming Agent as additional insured.

 

4.            Representations
and Warranties. Each Credit Party (including each New Subsidiary) hereby represents, warrants and covenants as follows:

 

(a)       This
Joinder and the Joined Documents, constitute the legal, valid and binding obligations of each Credit Party and are enforceable
against each Credit Party in accordance with their respective terms.

 

(b)       Upon
the effectiveness of this Joinder, each Credit Party hereby reaffirms all covenants made in the Credit Agreement and the Other
Documents to which it is party and hereby represents and warrants that each of the representations and warranties made in the Credit
Agreement, the Other Documents and any related agreements to which it is a party, and each of the representations and warranties
contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with
the Credit Agreement, the Other Documents or any related agreement to which it is party shall be true and correct in all material
respects as of the effective date of this Joinder (except (i) to the extent that such representations and warranties relate solely
to an earlier date, in which case they shall be true and correct in all material respects on and as of such earlier date, as applicable,
and (ii) such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or
modified by materiality thereof).

 

(c)       No
Default or Event of Default has occurred and is continuing or would exist after giving effect to this Joinder.

 

     -3-

     

    

 

(d)       No
Credit Party has any defense, counterclaim or offset with respect to the Credit Agreement or the Other Documents.

 

(e)       The
Credit Agreement and Other Documents are in full force and effect, and are hereby ratified and confirmed.

 

(f)       Agent
and Lenders have and will continue to have a valid first priority lien and security interest in all Term Loan Priority Collateral
and a valid second priority lien and security interest in all Revolving Credit Priority Collateral (as provided in the Intercreditor
Agreement), in each case subject to Permitted Encumbrances, and each Credit Party expressly reaffirms all guarantees, security
interests and liens granted to Agent and Lenders pursuant to the Credit Agreement and the Other Documents.

 

5.            Effect
of Joinder.

 

(a)       Except
as specifically amended herein, the Credit Agreement and all the Other Documents, shall remain in full force and effect, and are
hereby ratified and confirmed.

 

(b)       The
execution, delivery and effectiveness of this Joinder shall not operate as a waiver of any right, power or remedy of Agent or any
Lender, nor constitute a waiver of any provision of the Credit Agreement or any Other Document.

 

(c)       This
Joinder shall be an Other Document for all purposes under the Credit Agreement.

 

6.    
       Governing Law. This Joinder shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns and shall be governed by and construed in accordance with the laws of the State of
New York.

 

7.            Headings.
Section headings in this Joinder are included herein for convenience of reference only and shall not constitute a part of this
Joinder for any other purpose.

 

8.             Counterparts;
Facsimile. This Joinder may be executed by the parties hereto in one or more counterparts, each of which shall be deemed an
original and all of which when taken together shall constitute one and the same document. Any signature delivered by a party by
facsimile or electronic transmission shall be deemed to be an original signature hereto.

 

9.           Agent.
In executing this Joinder, acting hereunder and receiving documents hereunder, the Agent shall be entitled to the rights, benefits,
protections, indemnities and immunities afforded to it under the Credit Agreement. By their signatures hereto, the Lenders (x)
confirm that they have received each of the documents required by Section 3 hereof and the conditions to the effectiveness of this
Joinder have been satisfied, and (y) hereby direct the Agent to execute and deliver this Joinder.

 

[SIGNATURE PAGE FOLLOWS]

 

     -4-

     

    

 

IN WITNESS WHEREOF,
this Joinder to Term Loan Credit and Security Agreement has been duly executed as of the day and year first written above.

 

	 	BORROWERS:
	 	 
	 	HUDSON TECHNOLOGIES COMPANY
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	HUDSON HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	ASPEN REFRIGERANTS, INC.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	GUARANTOR:
	 	 
	 	HUDSON TECHNOLOGIES, INC.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer

 

Signature Page to
Joinder Agreement – Hudson Technologies (April 2019)

 

     

     

    

 

 

	 	NEW SUBSIDIARIES:
	 	 
	 	Glacier International, Inc.
	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	Glacier Trading Corp.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	HFC International, Inc.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	HFC Traders, Inc.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	RCT International, Inc.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	RCTI Corp.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer

 

Signature Page to Joinder Agreement –
Hudson Technologies (April 2019)

 

     

     

    

 

	 	RCTI Trading, Inc.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	RGIT, Inc.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	RGIT Trading Corp.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer
	 	 	 
	 	RGT Enterprises, Inc.
	 	 	 
	 	By:	/s/ Brian F. Coleman
	 	Name: Brian F. Coleman
	 	Title: President, Chief Operating Officer

 

Signature Page to Joinder Agreement –
Hudson Technologies (April 2019)

 

     

     

    

 

	AGENT:	U.S. BANK NATIONAL ASSOCIATION,
	 	as Agent
	 	By:	/s/ Prital K. Patel
	 	Name:	Prital K. Patel
	 	Title:	Vice President

 

Signature Page to Joinder Agreement –
Hudson Technologies (April 2019)

 

     

     

    

 

	 	LENDERS:
	 	 
	 	FS KKR CAPITAL CORP.
	 	 
	 	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
	 	 
	 	FS INVESTMENT CORPORATION IV
	 	 
	 	By:	/s/ Philip S. Davidson
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory

 

Signature Page to Joinder
Agreement – Hudson Technologies (April 2019)

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