Document:

EX-4.22

 Exhibit 4-22 

Form of Senior Note 
  

			
	 REGISTERED
	  	REGISTERED

 PUBLIC SERVICE ELECTRIC AND GAS COMPANY 

NOTE DUE 
  

			
	 NO.
	  	 PRINCIPAL AMOUNT:

		  	 CUSIP:

 Unless and until it is exchanged in whole or in part for Notes in definitive form, this Note may not be
transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee
of such successor Depositary. Unless this certificate is presented by an authorized representative of The Depository Trust Company (55 Water Street, New York, New York) (“DTC”), to the issuer or its agent for registration of transfer,
exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of DTC and any payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein. 

PUBLIC SERVICE ELECTRIC AND GAS COMPANY, a corporation duly organized and existing under the laws of the State of New Jersey (herein referred
to as the “Company”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal amount of                 Dollars
                ($                 ), on [Date] (“Stated Maturity”) (unless and
to the extent earlier redeemed prior to such date) and to pay interest thereon from     [Date] or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for in arrears on
each     [Date],     [Date],     [Date], and     [Date], commencing     [Date] (each, an “Interest Payment Date”), and at maturity or
earlier redemption, until the principal hereof is paid or made available for payment. Interest payments on this Note shall include interest accrued to but excluding each Interest Payment Date. The interest so payable, and punctually paid or duly
provided for, on any Interest Payment Date shall, as provided in the Indenture (as defined below), be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record
Date, which shall be the 15th calendar day (whether or not a Business Day) next preceding such Interest Payment Date. Except as otherwise provided in the Indenture, any interest not punctually paid or duly provided for on any Interest Payment Date
(“Defaulted Interest”) shall forthwith cease to be payable to the Holder on the Regular Record Date with respect to such Interest Payment Date by virtue of having been such Holder and may either (1) be paid to the Person in whose name
this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee (as defined below), notice of which shall be given to Holders of
Notes not less than 10 days prior to such Special Record Date, or (2) be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such notice as may
be required by such exchange, all as more fully provided in the Indenture. Payment of the principal of and interest on this Note shall be made at the Corporate Trust Office of the Trustee or at the office or agency of the Company maintained for that
purpose in the Borough of Manhattan, The City of New York, and at any other office or agency maintained by the Company for such purpose, in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts; provided, however, that at the option of the Company, payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register and provided,
further, that the Holder of this Note shall be entitled to receive payments of principal of and interest on this Note by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the
Trustee not less than 15 days prior to the applicable payment date. 

  
 1 

 Reference is hereby made to the further provisions of this Note set forth below, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication
hereon has been executed by the Trustee or its duly appointed co-authenticating agent by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any
purpose. 

  
 2 

 IN WITNESS WHEREOF, Public Service Electric and Gas Company has caused this Instrument to be
signed by the signature or facsimile signature of its Chairman of the Board, its President or a Vice President and attested by its Secretary or an Assistant Secretary by his signature or a facsimile thereof, and its corporate seal or a facsimile of
its corporate seal to be affixed hereunto or imprinted hereon. 
  

					
		
	(SEAL)	  	PUBLIC SERVICE ELECTRIC AND GAS COMPANY
			
		  	By	 	 
		  	Title:	 	Vice President and Treasurer

 Attest: 

	
	
	 
	 Title: Secretary

 Dated: 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 3 

 This Note is one of a duly authorized issue of securities (the “Securities”) of
the Company (which term includes any successor corporation under the Indenture hereinafter referred to) issued and to be issued pursuant to such Indenture. This Security is one of a series designated by the Company as its Series Designation (the
“Notes”) and will be subject, without the consent of the holders of any series of Securities, to the issuance of additional Notes in the future having the same terms, other than the date of original issuance and the date on which interest
begins to accrue, so as to form one series with the Notes. The Indenture does not limit the aggregate principal amount of the Notes or the Securities. 

The Company issued this Note pursuant to an Indenture, dated as of December 1, 2000 (the “Indenture” which term, for the
purpose of this Note, shall include the Officers’ Certificate dated [Date], delivered pursuant to Section 301 of the Indenture), between the Company and U.S. Bank National Association (successor to First Union National Bank), as trustee
(the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and Holders of the Notes and of the terms upon which the Notes are, and are to be, authenticated and delivered. 

The Notes are issuable as Registered Securities, without coupons, in denominations of $1,000 and any amount in excess thereof that is an
integral multiple of $1,000. As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of like tenor of any authorized denomination, as requested by the
Holder surrendering the same, upon surrender of the Note or Notes to be exchanged at any office or agency described below where Notes may be presented for registration of transfer. 

Interest on this Note shall accrue from [Date] (or from the most recent Interest Payment Date to which interest has been paid or duly provided
for) and be payable quarterly in arrears, on each [Date], [Date], [Date] and [Date], commencing [Date]. The interest rate on the Notes shall be reset quarterly and the Notes shall bear interest at a per annum rate (computed on the basis of the
actual number of days elapsed over a 360-day year) equal to [details of interest rate]. Interest on this Note shall accrue from and including the most recent Interest Payment Date to which interest has been
paid or duly provided for to but excluding the applicable Interest Payment Date, Stated Maturity or date of earlier redemption, as the case may be. 

If any Interest Payment Date (other than at Stated Maturity) or redemption date would otherwise be a day that is not a Business Day (as
defined below), such Interest Payment Date, or redemption date shall be postponed to the next succeeding day that is a Business Day. 
 This
Note may not be redeemed by the Company prior to [Date]. On that date and on the same day in each succeeding month, the Notes may be redeemed, at the option of the Company, in whole or in part, upon notice thereof (as described below) given not less
than 15 nor more than 60 calendar days prior to the redemption date. In the event that less than all of the outstanding Notes are to be redeemed, the Notes to be redeemed shall be selected by such method as the Company shall deem fair and
appropriate. The redemption price for any redemption (the “Redemption Price”) shall be equal to % of the principal amount to be redeemed plus any accrued and unpaid interest to the date of redemption (the “Redemption Date”). 

All notices of redemption shall state the redemption date, the Redemption Price, if fewer than all the outstanding Notes are to be redeemed,
the identification (and, in the case of partial redemption, the principal amounts) of the particular Notes to be redeemed, that on the Redemption Date the Redemption Price shall become due and payable upon each Note, or portion thereof, to be
redeemed, that interest on each Note, or portion thereof, called for redemption shall cease to accrue on the Redemption Date and the place or places where Notes may be surrendered for redemption. 

In the event of redemption of this Note in part only, a new Note or Notes of like tenor for the unredeemed portion hereof shall be issued in
authorized denominations in the name of the Holder hereof upon the cancellation hereof. 
 For all purposes of this Note and the Indenture,
unless the context otherwise requires, all provisions relating to the redemption by the Company of this Note shall relate, in the case that this Note is redeemed or to be redeemed by the Company only in part to that portion of the principal amount
of this Note that has been or is to be redeemed. 

  
 4 

 If an Event of Default (as set forth in the Indenture) with respect to Notes shall occur and
be continuing, the principal of the Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, in certain circumstances therein specified, the amendment thereof without the consent of the Holders of the Securities.
The Indenture also permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations under the Indenture of the Company and the rights of Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all the Securities of such series, to waive compliance by the Company with certain
provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of
any Note issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

No reference herein to the Indenture and no provision of this Note, subject to the provisions for satisfaction and discharge in Article Four
of the Indenture, shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

The Indenture permits the Company, by irrevocably depositing, in amounts and maturities sufficient to pay and discharge at the Stated Maturity
or redemption date, as the case may be, the entire indebtedness on all Outstanding Notes, cash or U.S. Government Obligations with the Trustee in trust solely for the benefit of the Holders of all Outstanding Notes, to defease the Indenture with
respect to such Notes, and upon such deposit the Company shall be deemed to have paid and discharged its entire indebtedness on such Notes. Thereafter, Holders would be able to look only to such trust fund for payment of principal and interest at
the Stated Maturity or redemption date, as the case may be. 
 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of Notes is registrable in the Security Register, upon surrender of a Note for registration of transfer at the Corporate Trust Office of the Trustee or at the office or agency of the Company in the Borough of Manhattan, The City
of New York, or at such other offices or agencies as the Company may designate, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof
or his attorney duly authorized in writing, and thereupon one or more new Notes of like tenor, of authorized denominations and for the same aggregate principal amount, shall be issued to the designated transferee or transferees. 

No service charge shall be made by the Company, the Trustee or the Security Registrar for any such registration of transfer or exchange, but
the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith (other than exchanges pursuant to Sections 304, 906 or 1107 of the Indenture, not involving any transfer). 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 

This Note shall be governed by and construed in accordance with the law of the State of New Jersey without regard to principles of conflicts
of laws. 
 All undefined terms used in this Note which are defined in the Indenture shall have the meanings assigned to them in the
Indenture. 

  
 5 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

									
	 TEN COM - as tenants in common
	  	UNIF GIFT MIN ACT	  		  	Custodian	  	
		  		  	  
	  		  	  

	 	  	 	  	(Cust.)	  	 	  	(Minor)

  

			
	 TEN ENT- as tenants by the entireties
	  	Under Uniform Gifts to Minor Act
	 	  	(State)

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

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

 
  

FOR VALUE RECEIVED, the undersigned hereby sells(s), assign(s) and transfer(s) unto 

Please Insert Social Security or Employer 
 Identification number
of assignee 
  
  

Please Print or Typewrite Name and Address 

Including Postal Zip Code of Assignee 
  

 

  
 6 

 The within Security and all rights thereunder, hereby irrevocably constituting and appointing
__________________________ attorney to transfer said Security on the books of the Company, with full power of substitution in the premises. 
  

									
	 Dated:
	 	 	 		 	 
		 		 		 	Signature

  

			
	NOTICE:	  	The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatever.

  
 7EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT NO. 4 TO CREDIT AGREEMENT 

This AMENDMENT NO. 4 TO CREDIT AGREEMENT (this “Amendment”) dated as of November 19, 2020, is made among
CHARAH SOLUTIONS, INC., a Delaware corporation (the “Borrower”), BANK OF AMERICA, N.A., in its capacity as administrative agent for the Lenders (as defined below) (in such capacity, the “Administrative
Agent”), the Lenders party hereto (each, a “Consenting Lender”), and the undersigned Guarantors. Each capitalized term used and not otherwise defined in this Amendment has the definition specified in the Credit Agreement
described below. 
 RECITALS: 

A. The Borrower, the Guarantors, the Administrative Agent and certain financial institutions party thereto from time to time (the
“Lenders”) have entered into that certain Credit Agreement dated as of September 21, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which
the Lenders have made available to the Borrower a Revolving Facility and a Term Facility. 
 B. The Borrower has requested that
Administrative Agent and the Lenders consent to its sale of Allied Power Holdings, LLC, a Delaware limited liability company (“Allied Power”), to Bernhard Capital Partners Management LP or an Affiliate or Affiliates thereof pursuant
to that certain Unit Purchase Agreement dated as of November 19, 2020 among Allied Group Intermediate Holdings, LLC, the Borrower and Allied Power (such transaction, the “Allied Disposition”). 

C. In connection with its proposed refinancing of a loan from First Financial Bank, currently outstanding in the aggregate principal amount of
approximately $5,590,000 (the “First Financial Loan”), the Borrower has requested that the Administrative Agent and the Lenders consent to a Sale and Leaseback Transaction whereby the Borrower would Dispose of certain equipment that
currently secures the First Financial Loan (such equipment being more particularly described on Exhibit A hereto), to CSC Leasing Co. for a purchase price approximating the fair market value thereof, and would lease such equipment back from CSC
Leasing Co. under a capital lease having a term of three (3) years (such transactions, collectively, the “CSC Sale-Leaseback Transaction”). 

D. The Administrative Agent and the Consenting Lenders are willing to amend the Credit Agreement to permit the Allied Disposition and the CSC
Sale-Leaseback Transaction and as otherwise provided herein on the terms and conditions set forth herein. 
 In consideration of the
premises and further valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

Section 1. Amendments to Credit Agreement. Subject to the terms and conditions set forth herein and in
reliance upon the representations and warranties set forth herein, as of the date on which this Amendment becomes effective, the parties hereto hereby agree that the Credit Agreement shall be amended as follows: 

(a) Section 1.01 of the Credit Agreement is hereby amended to add new defined terms of “Allied Disposition”, “Allied Power”
and “CSC Sale-Leaseback Transaction” in appropriate alphabetical order, to read as follows: 
 “Allied
Disposition” means the Disposition by the Borrower of Allied Power and its Subsidiaries to Bernhard Capital Management LP or an Affiliate or Affiliates thereof for a purchase price of not less than $40,000,000 pursuant to the terms of that
certain Unit Purchase Agreement dated as of November 19, 2020 among Allied Group Intermediate Holdings, LLC, the Borrower, and Allied Power, as in effect on such date. 

 “Allied Power” means Allied Power Holdings, LLC, a Delaware
limited liability. 
 “CSC Sale-Leaseback Transaction” means the Disposition by the Borrower of certain
equipment, as described in Exhibit A to Amendment No. 4 to this Agreement, to CSC Leasing Co. for a purchase price approximating the fair market value thereof, and the lease by the Borrower of such equipment from CSC Leasing Co. under a capital
lease having a term of three (3) years. 
 (b) The definition of “Consolidated Fixed Charge Coverage Ratio” in
Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: 

“Consolidated Fixed Charge Coverage Ratio” means, as of any date of determination, the ratio of
(a) (i) Consolidated EBITDA, plus (ii) lease expense and rent expense, less (iii) the aggregate amount of all unfinanced Capital Expenditures, less (iv) Restricted Payments (other than any Restricted
Payment permitted pursuant to Section 7.06(b)) and any earn-out payments paid in cash, less (v) the aggregate amount of federal, state, local and foreign income taxes paid
in cash, in each case, of or by the Borrower and its Subsidiaries for the most recently completed Measurement Period to (b) the sum of (i) Consolidated Interest Charges payable (other than interest “payable in kind”), (ii) the
aggregate amount of all scheduled capital lease obligations, (iii) scheduled principal payments of Consolidated Funded Indebtedness (other than Indebtedness hereunder), and (iv) to the extent not included in Consolidated Interest Charges,
lease expense and rent expense payable, in each case, of or by the Borrower and its Subsidiaries for the most recently completed Measurement Period. 

(c) Section 1.03(d) of the Credit Agreement is amended by adding the following proviso immediately after the reference to “such
Measurement Period” therein: 
 “; provided, however, that, notwithstanding the foregoing, the provisions of
this Section 1.03(d) shall not apply to the Allied Disposition with respect to the results of operation of Allied Power through October 31, 2020.” 

(d) Section 2.05(b)(i) of the Credit Agreement is amended by deleting the reference therein to “(other than any Dispositions permitted by
clauses (a), (b) and (c) of Section 7.05)” and inserting in lieu thereof “(other than any Dispositions permitted by clauses (a), (b), (c), (k) and
(l) of Section 7.05)”. 
 (e) Section 7.01 of the Credit Agreement is amended by inserting the
following as a new clause (m) thereof and renaming existing clause (m) as clause (n), with appropriate punctuation changes: 

(m) Liens incurred in connection with any Sale and Leaseback Transaction permitted by Section 7.13;
and 
 (f) Section 7.03 of the Credit Agreement is amended by inserting the following as a new clause (j) thereof and renaming existing
clause (j) as clause (k), with appropriate punctuation changes: 
 (j) Investments consisting of any Sale and Leaseback
Transaction permitted by Section 7.13; and 
 (g) Section 7.05 of the Credit Agreement is amended by inserting the
following as new clauses (k) and (l) thereof and renaming existing clause (k) as clause (m), with appropriate punctuation and typographical changes (including, for the avoidance of doubt, deleting each reference in the existing clause
(k) to “this clause (k)” and inserting in lieu thereof “this clause (m)”): 

  
 2 

 (k) the Allied Disposition; provided that substantially simultaneously with,
and as a part of the closing thereof, the Borrower shall use the Net Cash Proceeds thereof to (i) pay outstanding Term Loans in an aggregate amount of not less than $30,000,000, to be applied first to the prepayment of the Delayed Draw Term
Loans in full and then to the prepayment of Closing Date Term Loans in inverse order of maturity, and (ii) make a prepayment of the Revolving Loans in an amount equal to the remainder of such Net Cash Proceeds; and provided further that such
Disposition occurs not later than November 30, 2020; 
 (l) the CSC Sale-Leaseback Transaction; provided that
substantially simultaneously with, and as a part of the closing thereof, the Borrower shall apply any Net Cash Proceeds thereof, after repayment of any Indebtedness secured by a Permitted Lien on the related property, to repay outstanding Revolving
Loans; and 
 (h) Section 7.11(a) of the Credit Agreement is amended and restated in its entirety to read as follows: 

Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio at any time during the periods set forth
below to be greater than the ratio set forth below opposite such period: 
  

					
	 Period
	  	Maximum Consolidated
Net Leverage Ratio	 
	 December 31, 2020 through March 30, 2021
	  	 	5.50 to 1.00	 
	 March 31, 2021 through September 29, 2021
	  	 	4.80 to 1.00	 
	 September 30, 2021 through December 30, 2021
	  	 	4.50 to 1.00	 
	 December 31, 2021 and thereafter
	  	 	3.50 to 1.00	 

 (i) Section 7.11(b) of the Credit Agreement is amended and restated in its entirety to read as follows: 

(b) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio as of the end of the
Measurement Period ending March 31, 2021 to be less than 1.00 to 1.00 and as of the end of each Measurement Period ending thereafter to be less than 1.20 to 1.00. 

(j) Section 7.13 of the Credit Agreement is amended and restated in its entirety to read as follows: 

Sale and Leaseback Transactions. 

Enter into any Sale and Leaseback Transaction, other than the CSC Sale-Leaseback Transaction. 

  
 3 

 Section 2. Effectiveness; Conditions Precedent. This
Amendment shall become effective on the date when the following conditions shall have been satisfied or waived (such date, the “Effective Date”): 

(a) the Administrative Agent’s receipt of this Amendment, duly executed by the Borrower, the Administrative Agent, and the Required
Lenders (which counterparts may be delivered by facsimile, electronic email or other electronic means (including PDF) with originals to follow) in form and substance reasonably satisfactory to the Administrative Agent; and 

(b) the Administrative Agent’s receipt of a work fee in the amount of $100,000, to be paid to each Consenting Lender that has delivered
its signature page to the Administrative Agent by not later than 12:00 p.m. Eastern Time on Tuesday, November 10, 2020, on a pro rata basis in proportion to the Total Credit Exposure of such Consenting Lender to the aggregate Total Credit
Exposure of all such Consenting Lenders. 
 Section 3. Representations and Warranties. In order to
induce the Administrative Agent and the Consenting Lenders to enter into this Amendment, the Borrower and each Guarantor represents and warrants to the Administrative Agent and the Lenders as follows: 

(a) The representations and warranties made by it in Article V of the Credit Agreement, and by each Loan Party in each of the Loan
Documents to which such Loan Party is a party, or in any document furnished at any time under or in connection therewith, are (i) with respect to representations and warranties that contain a materiality qualification, true and correct in all
respects 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 on and as of the date hereof, except in each case (A) to the
extent that such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct in all material respects as of such earlier date and (B) the representations and
warranties contained in Sections 5.05(a) and (b) of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b) thereof, respectively; 

(b) Since the date of the most recent financial reports of the Borrower and its Subsidiaries delivered pursuant to
Section 6.01(a) of the Credit Agreement, no act, event, condition or circumstance has occurred or arisen which, singly or in the aggregate with one or more other acts, events, occurrences or conditions (whenever occurring
or arising), has had or could reasonably be expected to have a Material Adverse Effect; 
 (c) This Amendment has been duly authorized,
executed and delivered by the Borrower and each Guarantor and constitutes a legal, valid and binding obligation of the Borrower and each Guarantor, except as may be limited by general principles of equity or by the effect of any applicable
bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally; and 
 (d) As of the date
hereof, no Default or Event of Default has occurred that is continuing. 
 Section 4. Entire
Agreement. This Amendment, together with all the Loan Documents (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and
supersedes any prior negotiations and agreements among the parties relating to such subject matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no
such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or
implied, have been made by any party to the other in relation to the subject matter hereof or thereof. None of the terms or conditions of this Amendment may be changed, modified, waived or canceled orally or otherwise, except in writing and in
accordance with Section 11.01 of the Credit Agreement. 

  
 4 

 Section 5. Full Force and Effect of Agreement.
Except as hereby specifically amended, modified or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective
terms. This Amendment shall not be deemed (i) to be a waiver of, or consent to, or a modification or amendment of, any other term or condition of the Credit Agreement or any other Loan Document other than as expressly set forth herein,
(ii) to prejudice any right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement or the other Loan Documents or any of the instruments or agreements
referred to therein, as the same may be amended, restated, supplemented or modified from time to time other than as expressly set forth herein, or (iii) to be a commitment or any other undertaking or expression of any willingness to engage in
any further discussion with the Borrower, any Loan Party or any other Person with respect to any other waiver, amendment, modification or any other change to the Credit Agreement or the Loan Documents or any rights or remedies arising in favor of
the Lenders or the Administrative Agent, or any of them, under or with respect to any such documents. References in the Credit Agreement to “this Agreement” (and indirect references such as “hereunder”, “hereby”,
“herein”, “hereof” or other words of like import) and in any Loan Document to the “Credit Agreement” shall be deemed to be references to the Credit Agreement as modified hereby. 

Section 6. Counterparts. This Amendment may be executed in any number of counterparts, each of which
shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other
electronic means shall be effective as delivery of a manually executed counterpart of this Amendment. 

Section 7. Governing Law; Jurisdiction, Etc. This Amendment shall in all respects be governed by, and
construed in accordance with, the laws of the State of New York, and shall be further subject to the provisions of Sections 11.14 and 11.15 of the Credit Agreement. 

Section 8. Enforceability. Should any one or more of the provisions of this Amendment be determined to
be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto. 

Section 9. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of
the Borrower, each Guarantor, the Administrative Agent and each Lender, and their respective successors and assignees to the extent such assignees are permitted assignees as provided in Section 11.06 of the Credit
Agreement. 
 Section 10. Costs and Expenses. In accordance with
Section 11.04(a) of the Credit Agreement, the Borrower hereby agrees to pay on demand all reasonable and documented out-of-pocket expenses of
the Administrative Agent (including the reasonable and documented fees and expenses of counsel for the Administrative Agent) in connection with the preparation, execution and delivery of this Amendment and any other related documents. 

Section 11. Release; Indemnification. 

(a) Release. In further consideration of the Administrative Agent’s and the Consenting Lenders’ execution of this Amendment,
the Borrower and the Guarantors, individually and on behalf of their successors (including any trustees or any debtor-in-possession acting on behalf of the Borrower or a
Guarantor), assigns, subsidiaries and affiliates, hereby forever release the Administrative Agent, the Lenders and their successors, assigns, parents, subsidiaries, and affiliates and their officers, employees, directors, agents and attorneys
(collectively, the “Releasees”) from any and all debts, claims, demands, liabilities, responsibilities, disputes, causes, damages, actions and causes of actions (whether at law or in 

  
 5 

 
equity), and obligations of every nature whatsoever (other than any obligations to advance Loans under and in accordance with the Credit Agreement), whether liquidated or unliquidated, whether
matured or unmatured, whether fixed or contingent that the Borrower or any Guarantor has or may have against the Releasees, or any of them, in each case which arise from or relate to any actions which the Releasees, or any of them, have or may have
taken or omitted to take in connection with the Credit Agreement or the other Loan Documents prior to the date hereof (including with respect to the Obligations, any Collateral and any third parties liable in whole or in part for the Obligations);
provided that neither the Borrower nor any Guarantor is waiving any defense to expense reimbursement or indemnification expressly set forth in Section 11.04 of the Credit Agreement. This provision shall survive and continue in full force and
effect whether or not the Borrower shall satisfy all other provisions of the Credit Agreement or the other Loan Documents. 
 (b) Related
Indemnity. The Borrower and each Guarantor hereby agree that its release of the Releasees set forth in Section 11(a) shall include an obligation to indemnify and hold the Releasees, or any of them, harmless with respect
to any and all liabilities, obligations, losses, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred by the Releasees, or any of them, whether direct, indirect or consequential, as a
result of or arising from or relating to any proceeding by, or on behalf of any Person, including officers, directors, agents, trustees, creditors, partners or shareholders of the Borrower or any Guarantor or any parent, subsidiary or affiliate of
the Borrower or such Guarantor, whether threatened or initiated, asserting any claim for legal or equitable remedy under any statutes, regulation, common law principle or otherwise arising from or in connection with the negotiation, preparation,
execution, delivery, performance, administration and enforcement of this Amendment or any other document executed in connection herewith; provided, that the Borrower shall not be liable for any indemnification to a Releasee to the extent that any
such liability, obligation, loss, penalty, action, judgment, suit, cost, expense or disbursement results from (i) the applicable Releasee’s gross negligence, willful misconduct or breach in bad faith, as finally determined by a court of
competent jurisdiction, (ii) a claim brought by the Borrower or any other Guarantor against an Indemnitee for a material breach in bad faith of such Releasee’s obligations under the Credit Agreement or under any other Loan Document if the
Borrower or such Guarantor has obtained a final, non-appealable judgment in its favor on such claim as determined by a court of competent jurisdiction, or (iii) a dispute solely among the Releasees and
not arising out of any act or omission of the Borrower or any of its Subsidiaries or Affiliates (other than any claim against an Indemnitee in its capacity or in fulfilling its role as an Arranger, the Administrative Agent, the Swingline Lender or
an L/C Issuer under the Credit Agreement). The foregoing indemnity shall survive the payment in full of the Obligations and the termination of the Credit Agreement and the other Loan Documents. 

Section 12. Reaffirmation. 

(a) Each Loan Party hereby acknowledges that it expects to realize substantial direct and indirect benefits as a result of this Amendment. 

(b) Each Loan Party hereby acknowledges its receipt of this Amendment and its review of the terms and conditions hereof, and consents to the
terms and conditions of this Amendment and the transactions contemplated herein. 
 (c) Each Loan Party hereby (i) affirms and confirms
each of its guarantees, pledges, grants and other agreements under each Collateral Document, (ii) affirms that it has the right, power and authority and has taken all necessary corporate and other action to authorize the execution, delivery and
performance of this Amendment and (iii) agrees that, notwithstanding the effectiveness of this Amendment, each Security Document and all guarantees, pledges, grants and other agreements thereunder shall continue to be in full force and effect
in respect of, and to secure, the Secured Obligations. 

  
 6 

 [Signature pages follow] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be made, executed and
delivered by their duly authorized officers as of the day and year first above written. 
  

					
	BORROWER:
	
	CHARAH SOLUTIONS, INC., a Delaware corporation
		
	By:	 	 /s/ Scott Sewell

	Name:	 	Scott Sewell
	Title:	 	President & CEO
	
	GUARANTORS:
	
	ALLIED POWER HOLDINGS, LLC, a Delaware limited liability company
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO
	
	ALLIED POWER MANAGEMENT, LLC, a Delaware limited liability company
		
	By:	 	Allied Power Sole Member, LLC,
		 	its sole member
		
	By:	 	Allied Power Holdings, LLC,
		 	its sole member
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

  

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
					
	ALLIED POWER RESOURCES, LLC, a Delaware limited liability company
		
	By:	 	 Allied Power Management, LLC,

		 	its sole member
		
	By:	 	 Allied Power Holdings, LLC,

		 	its sole member
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO
	
	ALLIED POWER SERVICES, LLC, a Delaware limited liability company
		
	By:	 	Allied Power Management, LLC,
		 	its sole member
		
	By:	 	Allied Power Holdings, LLC,
		 	its sole member
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO
	
	ALLIED POWER SOLE MEMBER, LLC, a Delaware limited liability company
		
	By:	 	Allied Power Holdings, LLC,
		 	its sole member
		
	By:	 	 Charah Solutions, Inc.,

		 	its sole member and sole manager
			
		 	By:	 	 /s/ Scott Sewell

		 	 Name:
	 	Scott Sewell
		 	 Title:
	 	President & CEO

  

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
					
	ASH MANAGEMENT SERVICES, LLC, a Kentucky limited liability company
		
	By:	 	Charah, LLC
		 	its sole member and sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

 
					
	
	CHARAH MANAGEMENT LLC, a Delaware limited liability company
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

 
					
	
	CHARAH PLANT SERVICES, LLC, a Delaware limited liability company
		
	By:	 	Allied Power Management, LLC,
		 	its sole member
		
	By:	 	Allied Power Holdings, LLC,
		 	its sole member
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

  

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
					
	CHARAH SOLE MEMBER LLC, a Delaware limited liability company
		
	By:	 	Charah Management LLC,
		 	its sole member and managing member
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

 
					
	
	CHARAH, LLC, a Kentucky limited liability company
		
	By:	 	Charah Sole Member LLC,
		 	its sole member and sole manager
		
	By:	 	Charah Management LLC,
		 	its sole member and managing member
		
	By:	 	Charah Solutions, Inc.,
		 	its sole member and sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

 
					
	
	MERCURY CAPTURE BENEFICIATION, LLC, a Delaware limited liability company
		
	By:	 	Charah, LLC its sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

 
					
	
	MERCURY CAPTURE INTELLECTUAL PROPERTY, LLC, a Delaware limited liability company
		
	By:	 	Charah, LLC its sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
					
	NUTEK MICRO-GRINDING, LLC, a Connecticut limited liability company
		
	By:	 	Charah, LLC its sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO
	
	SCB INTERNATIONAL HOLDINGS, LLC, a Delaware limited liability company
		
	By:	 	Charah, LLC its sole member and sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO
	
	SCB TRADING, LLC, a Connecticut limited liability company
		
	By:	 	Charah, LLC its sole manager

 
					
			
		 	By:	 	 /s/ Scott Sewell

		 	Name:	 	Scott Sewell
		 	Title:	 	President & CEO

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
			
	ADMINISTRATIVE AGENT:
	
	BANK OF AMERICA, N.A.,
	as Administrative Agent

 
			
		
	By:	 	 /s/ Teresa Weirath

	Name:	 	Teresa Weirath
	Title:	 	Vice President

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
			
	LENDERS:
	
	BANK OF AMERICA, N.A.,
	as a Lender, L/C Issuer and Swingline Lender

 
			
		
	By:	 	 /s/ G. Christopher Miller

	Name:	 	G. Christopher Miller
	Title:	 	Senior Vice President

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
			
	 REGIONS BANK,
 as a
Lender

 
			
		
	By:	 	 /s/ Arhur E. Cutler

	Name:	 	Arhur E. Cutler
	Title:	 	Senior Vice President

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
			
	FIRST HORIZON BANK, a Tennessee banking corporation, successor by conversion to First Tennessee Bank National Association, a national banking, as a
Lender

 
			
		
	By:	 	 /s/ Jim Hennigan

	Name:	 	Jim Hennigan
	Title:	 	Senior Vice President

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
			
	 SYNOVUS BANK,

as a Lender

 
			
		
	 By:
	 	 /s/ Jeffrey Spielberger

	 Name:
	 	 Jeffrey Spielberger

	 Title:
	 	 Managed Assets Officer

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
			
	 PINNACLE BANK,
 as a
Lender

 
			
		
	By:	 	 /s/ William L. Fuson

	Name:	 	William L. Fuson
	Title:	 	Senior Vice President

  
 Charah Solutions, Inc.

 Amendment No. 4 to Credit Agreement 

Signature Page 

 
			
	 U.S. BANK NATIONAL ASSOCIATION,

as a Lender

 
			
		
	 By:
	 	 /s/ Ciara Bochenek

	Name:	 	 Ciara Bochenek

	 Title:
	 	Vice President

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