Document:

Exhibit 10.1

 

EXECUTION VERSION

 

 

SECOND AMENDMENT TO CREDIT AGREEMENT

THIS SECOND AMENDMENT TO CREDIT AGREEMENT, dated July 5, 2017 (this "Amendment"), is entered into among CROSS COUNTRY HEALTHCARE, INC., a Delaware corporation (the "Borrower"), the Guarantors, the Lenders party hereto and SunTrust Bank, as Administrative Agent, Swingline Lender and an Issuing Bank.  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 SunTrust Bank, as Administrative Agent, Swingline Lender and an Issuing Bank, entered into that certain Credit Agreement dated as of June 22, 2016 (as amended by that certain First Amendment dated as of May 16, 2017 and as further amended, restated, supplemented or otherwise modified prior to the date hereof, the "Credit Agreement");

WHEREAS, the Borrower has requested an amendment to the Credit Agreement;

WHEREAS, the Lenders (by act of the Required Lenders) agree to such requested amendment subject to the terms and conditions of this Amendment;

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.            Amendments to Credit Agreement.

(a)         The definition of "Applicable Margin" in Section 1.1 of the Credit Agreement is amended by adding the following sentence to the end of the first paragraph therein:

  

Notwithstanding anything to the contrary in the foregoing, in the event the Specified Acquisition is consummated, the Applicable Margin from the date of such consummation until the second Business Day after which the financial statements and Compliance Certificate for the Fiscal Quarter ending September 30, 2017 are required to be delivered shall be at Level III as set forth in the table below.

(b)         In the definition of "Permitted Acquisition" in Section 1.1 of the Credit Agreement, the lead-in text of such definition immediately preceding the colon is amended and restated to read as follows:

"Permitted Acquisition" shall mean (I) the Specified Acquisition, so long as (x) the Specified Acquisition has occurred on or before July 31, 2017 and (y) the Specified Acquisition satisfies clauses (a) through (e) below (subject to the last paragraph of Section 2.23) and (II) any other Acquisition that has either has been approved in writing by the Required Lenders or with respect to which all of the following conditions shall have been satisfied:

(c)            Section 1.1 of the Credit Agreement is amended to include, in appropriate alphabetical order, the following new definition:

"Specified Acquisition" shall mean the Acquisition by the Borrower or one or more of its wholly-owned Subsidiaries of substantially all of the assets of Advantage RN, LLC, an Ohio limited liability company, and its Subsidiaries (the "Specified Acquired Business") in a transaction that will result in the Borrower (or one or more of its wholly-owned Subsidiaries) owning substantially all of the assets of the Specified Acquired Business and its Subsidiaries.

 

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(d)            Section 5.10 of the Credit Agreement is amended by inserting the text ", upon the reasonable request of the Administrative Agent," immediately prior to the text "opinions of counsel" therein.

(e)            The first sentence of Section 5.12 of the Credit Agreement is amended in its entirety to read as follows:

The Borrower shall, and shall cause its Domestic Subsidiaries to, maintain all cash management and treasury business (other than Excluded Accounts) with SunTrust Bank or another Lender or any of their respective Affiliates, including, without limitation, all deposit accounts, disbursement accounts, investment accounts and lockbox accounts; provided however, that with respect to all cash management and treasury business accounts maintained with financial institutions other than SunTrust Bank or any other Lender (or their respective Affiliates) by the Specified Acquired Business or any of its Subsidiaries in existence as of the date of consummation of the Specified Acquisition, the Loan Parties shall have ninety (90) days (or such later date as the Administrative Agent may agree in its sole discretion) to close such accounts and open new or replacement accounts in compliance with this Section 5.12.

2.            Conditions Precedent.  This Amendment shall be effective upon receipt by the Administrative Agent of each of the following:

(a)         a counterpart of this Amendment signed by the Administrative Agent, the Required Lenders, the Borrower and each Guarantor; and

(b)        an amendment fee (the "Amendment Fee") for the account of each of the Lenders consenting to this Amendment on or before June 19, 2017 in an amount equal to five basis points (0.05%) on the sum of such Lender's Revolving Commitments and its portion of the outstanding principal amount of the Term Loan A (but excluding any Incremental Term Loan incurred in connection with the Specified Acquisition).

3.            Miscellaneous.

(a)        This Amendment shall be deemed to be, and is, a Loan Document.

(b)        Effective as of the date hereof, all references to the Credit Agreement in each of the Loan Documents shall hereafter mean the Credit Agreement as amended by this Amendment.

(c)        Each Loan Party (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) agrees that this Amendment 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 or any certificates, documents, agreements and instruments executed in connection therewith, (iii) affirms all of its obligations under the Loan Documents, (iv) agrees that this Amendment shall in no manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Loan Documents and (v) affirms that each of the Liens granted in or pursuant to the Loan Documents are valid and subsisting.

 

2

(d)        Each of the Loan Parties hereby represents and warrants to the Administrative Agent and the Lenders as follows:

(i)            such Loan Party has taken all necessary action to authorize the execution, delivery and performance of this Amendment;

(ii)            this Amendment has been duly executed and delivered by such Loan Party and constitutes such Loan Party's legal, valid and binding obligations, enforceable in accordance with its terms;

(iii)          no consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by any Loan Party of this Amendment;

(iv)          all representations and warranties of each Loan Party set forth in the Loan Documents are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties are true and correct in all respects) except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties are true and correct in all respects) as of such earlier date; and

(v)            no Default or Event of Default exists.

(e)                This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile transmission or by any other electronic imaging means (including pdf), shall be effective as delivery of a manually executed counterpart of this Amendment.

(f)                This Amendment and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment and the transactions contemplated hereby shall be construed in accordance with and be governed by the Law of the State of New York.

[Signature pages follow]

 

3

  

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

 

 

	BORROWER: 	
CROSS COUNTRY HEALTHCARE, INC.,

a Delaware corporation 

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: President and Chief Executive Officer

 

 

	GUARANTORS:	
CEJKA SEARCH, INC.,

a Delaware corporation 
	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

		
CROSS COUNTRY STAFFING, INC.,

a Delaware corporation 

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
CROSS COUNTRY SUPPORT SERVICES, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
MDA HOLDINGS, INC.,

a Delaware corporation

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

		
ASSIGNMENT AMERICA, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
TRAVEL STAFF, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

		
LOCAL STAFF, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

		
MEDICAL DOCTOR ASSOCIATES, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
CREDENT VERIFICATION AND LICENSING 

SERVICES, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

		
OWS, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

		
NEW MEDISCAN II, LLC,

a California limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Vice President

 

 

		
MEDISCAN NURSING STAFFING, LLC,

a California limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Vice President

 

 

		
MEDISCAN DIAGNOSTIC SERVICES, LLC,

a California limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Vice President

	
ADMINISTRATIVE   SUNTRUST BANK,

AGENT:

	

 

as Administrative Agent, as an Issuing Bank, as 

Swingline Lender and as a Lender

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ Sheryl Squires Kerley

	 	 	
Name: Sheryl Squires Kerley

	 	 	
Title: Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

	LENDERS:	
BMO HARRIS BANK, N.A.

	
 

	 	 
	 	 	 
	 	By:	/s/ L.M. Junior Del Brocco
	 	Name:	
L.M. Junior Del Brocco

	 	Title: 	
Senior Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

 

 

 

		
BANK UNITED, N.A.

	
 

	 	 
	 	 	 
	 	By:	/s/ Vanessa C. Civalero
	 	Name:	
Vanessa C. Civalero

	 	Title:	
Senior Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

 

 

		
FIFTH THIRD BANK

	
 

	 	 
	 	 	 
	 	By:	/s/ Tamara Dowd
	 	Name: 	
Tamara Dowd

	 	Title:	Director

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

 

		
BANK OF AMERICA, N.A.

	
 

	 	 
	 	 	 
	 	By:	/s/ Mark Hardison
	 	Name:	Mark Hardison
	 	Title: 	
Senior Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

  

 

 

		
CADENCE BANK

	
 

	 	 
	 	 	 
	 	By:	/s/ William H. Crawford
	 	Name:	William H. Crawford
	 	Title: 	
EVP

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENTExhibit 10.2

 

INCREMENTAL TERM LOAN AGREEMENT

THIS INCREMENTAL TERM LOAN AGREEMENT (this "Agreement"), dated as of July 1, 2017, to the Credit Agreement referenced below is by and among Cross Country Healthcare, Inc., a Delaware corporation (the "Borrower"), the Guarantors, SunTrust Bank (the "Incremental Term Loan Lender") and SunTrust Bank, in its capacity as Administrative Agent (in such capacity, the "Administrative Agent").

W I T N E S S E T H

WHEREAS, the Borrower, the Guarantors identified therein, the Lenders party thereto and the Administrative Agent entered into that certain Credit Agreement, dated as of June 22, 2016 (as amended by that certain First Amendment to Credit Agreement dated as of May 16, 2017, that certain Second Amendment to Credit Agreement dated as of the date hereof and as further amended, modified, supplemented, increased and extended from time to time, the "Credit Agreement");

WHEREAS, pursuant to Section 2.23 of the Credit Agreement, the Borrower may increase the Aggregate Revolving Commitments or establish one or more additional term loans (each such term loan, an "Incremental Term Loan") by up to $50,000,000 in the aggregate;

WHEREAS, the Borrower or one or more of its wholly-owned Subsidiaries intends to acquire substantially all of the assets of Advantage RN, LLC, an Ohio limited liability company, and its Subsidiaries (the "Specified Acquired Business") in a transaction that will result in the Borrower (or one or more of its wholly-owned Subsidiaries) owning substantially all of the assets of the Specified Acquired Business and its Subsidiaries (the "Specified Acquisition") pursuant to that certain Asset Purchase Agreement dated as of June 13, 2017 by and among the Borrower, as buyer, Advantage RN, LLC and certain of its subsidiaries and affiliates, the signing members and the seller representative (the "Specified Acquisition Agreement");

WHEREAS, in connection with the Specified Acquisition, the Borrower notified the Administrative Agent in accordance with the provisions of Section 2.23 of the Credit Agreement that it intends to establish an Incremental Term Loan in the aggregate principal amount of $40,000,000 the proceeds of which will be used solely to pay part of the consideration for the Specified Acquisition and associated costs and expenses; and

WHEREAS, the Borrower has notified the Administrative Agent that pursuant to Section 2.23 of the Credit Agreement, the Incremental Term Loan Lender has agreed to provide an additional term loan in the amount of $40,000,000 on the terms and conditions set forth herein, which increase shall constitute an Incremental Term Loan under the Credit Agreement.

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.            Introductory Paragraph and Recitals.  The above introductory paragraph and recitals of this Agreement are incorporated herein by reference as if fully set forth in the body of this Agreement.

2.            Defined Terms.  Capitalized terms used herein but not otherwise defined herein shall have the meanings provided to such terms in the Credit Agreement.

 

3.            Incremental Term Loan.

(a)            The Incremental Term Loan (as defined herein) constitutes an "Incremental Term Loan", a "Term Loan" and a "Loan" as such terms are defined and used in the Credit Agreement.

(b)            The Incremental Term Loan Lender agrees that the aggregate principal amount of its Incremental Term Loan Commitment is set forth on Exhibit A attached hereto.

(c)            The proceeds of the Incremental Term Loan shall be used solely to pay part of the consideration for the Specified Acquisition and associated costs and expenses.

(d)            Subject to the terms and conditions set forth herein, the Incremental Term Lender agrees to make its portion of the Incremental Term Loan to the Borrower in one advance on any Business Day from the date hereof through and including July 7, 2017 (the "Incremental Term Loan Funding Date") in a principal amount equal to the Incremental Term Loan Commitment of such Incremental Term Lender.  The Incremental Term Loan may be, from time to time in the Borrower's discretion (subject to the terms of the Credit Agreement), Base Rate Loans, LIBOR Index Rate Loans or Eurodollar Loans or a combination thereof.  Amounts repaid on Incremental Term Loan may not be reborrowed.

(e)            The Maturity Date for the Incremental Term Loan is the earlier of (i) June 22, 2021 or (ii) the date on which the principal amount of all outstanding Term Loans has been declared or automatically has become due and payable pursuant to Section 8.1 of the Credit Agreement (whether by acceleration or otherwise).

(f)            The Applicable Margin for the Incremental Term Loan shall be, as of any date, a percentage per annum determined by reference to the applicable Consolidated Net Leverage Ratio in effect on such date as set forth in the table below:

	
 

 

 

Level

 

	
 

 

Consolidated Net Leverage 

Ratio

	
 

Eurodollar Loans, 

LIBOR Index Rate 

Loans and Letter of 

Credit Fee

 

	
 

 

Base Rate

Loans

	
I

	
< 1.50:1.00

	
1.75%

	
0.75%

	
II

	
> 1.50:1.00 but < 2.00:1.00

	
2.00%

	
1.00%

	
III

	
> 2.00:1.00 but < 2.50:1.00

	
2.25%

	
1.25%

	
IV

	
> 2.50:1.00 but < 3.00:1.00

	
2.50%

	
1.50%

	
V

	
> 3.00:1.00

	
2.75%

	
1.75%

Changes in the Applicable Margin resulting from a change in the Consolidated Net Leverage Ratio shall be made pursuant to the definition of "Applicable Margin" set forth in Section 1.1 of the Credit Agreement and other applicable provisions in the Credit Agreement (which are hereby incorporated by references, mutatis mutandis, as if set forth herein) in the same manner as other Loans under the Credit Agreement, including any imposition of an Accurate Applicable Margin in accordance with the terms of the Credit Agreement.  For the avoidance of doubt, upon consummation of the Specified Acquisition, the Applicable Margin from the date of such consummation until the second Business Day after which the financial statements and Compliance Certificate for the Fiscal Quarter ending September 30, 2017 are required to be delivered shall be at Level III as set forth in the table above consistent with the Credit Agreement.

 

 

(g)            The Borrower unconditionally promises to pay to the Administrative Agent, for the account of the Incremental Term Loan Lender, the then unpaid principal amount of the Incremental Term Loan in quarterly installments, commencing with the first full Fiscal Quarter ending after the Incremental Term Loan is funded, with each such installment being in the aggregate principal amount (as such installment may be adjusted as a result of prepayments made pursuant to Sections 2.11 and 2.12 of the Credit Agreement) for the Incremental Term Lender equal to (i) 1.875% of the principal amount of the Incremental Term Loan actually advanced for the first eight (8) installments and (ii) 2.50% of the principal amount of the Incremental Term Loan actually advanced for the remaining installments (and on such other date(s) and in such other amounts as may be required from time to time pursuant to this Agreement); provided, that, to the extent not previously paid, the aggregate unpaid principal balance of the Incremental Term Loan shall be due and payable on the Maturity Date.

4.            Conditions Precedent.  This Agreement shall become effective as of the date hereof upon satisfaction of each of the following conditions precedent:

(a)            Documentation. Receipt by the Administrative Agent of counterparts of this Agreement executed by the Borrower, the Guarantors, the Incremental Term Loan Lender and the Administrative Agent.

(b)            Authorization.  Receipt by the Administrative Agent of a certificate of the Borrower signed by a Responsible Officer of the Borrower certifying and attaching resolutions adopted by the board of directors (or equivalent governing body) of such Loan Party approving this Agreement.

(c)            Consummation of Specified Acquisition.  Substantially concurrent with or prior to the funding of the Incremental Term Loan on the Incremental Term Loan Funding Date, the following shall have occurred:

(i)                the proceeds of the borrowings made on the Incremental Term Loan Funding Date pursuant to Incremental Term Loan, proceeds from Revolving Loans and cash on hand of the Borrower and its Subsidiaries shall be sufficient, and shall have been applied solely, to consummate the Specified Acquisition and reasonable out-of-pocket costs associated therewith.

(ii)                the Specified Acquisition shall have been consummated in accordance with the terms of the Specified Acquisition Agreement, and all conditions precedent to the consummation of the Specified Acquisition, as set forth in the Specified Acquisition Agreement, shall have been satisfied in all material respects without any waiver, amendment, supplement or other modification that is materially adverse to the interests of the Incremental Term Loan Lender; provided that any increase in the purchase price not in excess of $5,000,000 or any decrease of the purchase price not in excess of $5,000,000 shall not be deemed to be materially adverse to the interests of the Incremental Term Loan Lender; provided further, any change in definition of "Material Adverse Effect" (as defined in the Specified Acquisition Agreement) shall be deemed to be materially adverse to the interest of the Incremental Term Loan Lender.

 

(d)            Opinions of Counsel.  Receipt by the Administrative Agent of written opinions of counsel to the Loan Parties addressed to the Administrative Agent and the Incremental Term Loan Lender regarding, among other things, the binding effect and enforceability of this Incremental Term Loan Agreement and otherwise in form and substance reasonably satisfactory to the Administrative Agent.

(e)            Specified Acquisition. Receipt by the Administrative Agent of a copy of the Specified Acquisition Agreement (including, all schedules, exhibits, annexes, amendments and modifications thereto or thereof), together with all other material documents related thereto.

(f)            Specified Acquisition Agreement Representations.  The representations and warranties in the Specified Acquisition Agreement made by or with respect to the Acquired Business that are material to the interests of the Lenders are true and correct in all material respects, but only to the extent that the Borrower and/or any of its Subsidiaries, as applicable, has the right to terminate its or their obligations under the Specified Acquisition Agreement or not consummate the Specified Acquisition as a result of a breach of such representations in the Specified Acquisition Agreement.

(g)            Specified Representations of Loan Parties.  At the time of and immediately after giving effect to such Borrowing of the Incremental Term Loan, the representations and warranties set forth in Sections 4.1, 4.2, 4.3(b) (insofar as they relate to the execution, delivery and performance of the Loan Documents), 4.8, 4.10, 4.16 and 4.19 of the Credit Agreement shall be true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties are true and correct in all respects), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties are true and correct in all respects) as of such earlier date.

(h)            No Material Adverse Effect.  Since December 31, 2016, no "Material Adverse Effect" (as defined in the Specified Acquisition Agreement) shall have occurred.

(i)            Pro Forma Compliance Certificate.  At least five (5) Business Days prior to the date on which the Specified Acquisition Agreement is executed and delivered, receipt by the Administrative Agent of a Pro Forma Compliance Certificate from a Responsible Officer of the Borrower demonstrating that, after giving effect to the incurrence of such Incremental Term Loan on a Pro Forma Basis, the Loan Parties are in compliance with the financial covenants set forth in Sections 6.1 and 6.2 of the Credit Agreement recomputed as of the date on which the Specified Acquisition Agreement was entered into (which is not more than ninety (90) days prior to the consummation of the Specified Acquisition).

(j)            No Specified Event of Default.  No Specified Event of Default shall exist at the date the Specified Acquisition is consummated.

(k)            Note.  A fully executed Note for the Incremental Term Loan Lender.

(l)            Second Amendment.  Receipt by the Administrative Agent of counterparts of that certain Second Amendment to the Credit Agreement executed by the Borrower, the Guarantors, the Administrative Agent and the Lenders constituting Required Lenders party thereto.

(m)            Borrowing Notice.  Delivery by the Borrower of a written notice to the Incremental Term Loan Lender at least one Business Day prior to the requested Incremental Term Loan Funding Date.

(n)            Fees.  Receipt by the Administrative Agent of payment of all fees, expenses and other amounts due and payable on or prior to the Incremental Term Loan Funding Date in connection with the establishment of the Incremental Term Loan.

5.            Representations of the Loan Parties.  Each of the Loan Parties hereby represents and warrants to the Administrative Agent and the Incremental Term Loan Lender as follows:

(a)            as of the date of execution and delivery of the Specified Acquisition Agreement, no Default or Event of Default existed;

(b)            as of the date of execution and delivery of the Specified Acquisition Agreement, the representations and warranties made by each of the Loan Parties in each Loan Document were true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects); and

(c)            the Specified Acquisition satisfies clauses (a) through (d) (subject to the last paragraph of Section 2.23) of the definition of "Permitted Acquisition" set forth in Section 1.1 of the Credit Agreement.

6.            Miscellaneous

(a)            This Agreement shall be deemed to be, and is, a Loan Document.

(b)            Effective as of the date hereof, all references to the Credit Agreement in each of the Loan Documents shall hereafter mean the Credit Agreement after giving effect to the Incremental Term Loan.

(c)            Each Loan Party (i) acknowledges and consents to all of the terms and conditions of this Agreement, (ii) 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 or any certificates, documents, agreements and instruments executed in connection therewith, (iii) affirms all of its obligations under the Loan Documents, (iv) agrees that this Agreement shall in no manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Loan Documents and (v) affirms that each of the Liens granted in or pursuant to the Loan Documents are valid and subsisting.

(d)            Except as modified hereby, all of the terms and provisions of the Loan Documents shall remain in full force and effect.

(e)            This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile transmission or by any other electronic imaging means (including pdf), shall be effective as delivery of a manually executed counterpart of this Agreement.

(f)            This Agreement and any claims, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement and the transactions contemplated hereby shall be construed in accordance with and be governed by the Law of the State of New York.

[SIGNATURE PAGES FOLLOW]

 

 

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

 

 

 

 

	BORROWER: 	
CROSS COUNTRY HEALTHCARE, INC.,

a Delaware corporation 

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: President and Chief Executive Officer

 

 

	GUARANTORS:	
CEJKA SEARCH, INC.,

a Delaware corporation 
	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

		
CROSS COUNTRY STAFFING, INC.,

a Delaware corporation 

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
CROSS COUNTRY SUPPORT SERVICES, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
MDA HOLDINGS, INC.,

a Delaware corporation

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

CROSS COUNTRY HEALTHCARE, INC.

INCREMENTAL TERM LOAN AMENDMENT

 

		
ASSIGNMENT AMERICA, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
TRAVEL STAFF, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

		
LOCAL STAFF, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

		
MEDICAL DOCTOR ASSOCIATES, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

		
CREDENT VERIFICATION AND LICENSING SERVICES, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

		
OWS, LLC,

a Delaware limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Executive Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

INCREMENTAL TERM LOAN AMENDMENT

 

		
NEW MEDISCAN II, LLC,

a California limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Vice President

 

		
MEDISCAN NURSING STAFFING, LLC,

a California limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Vice President

 

 

		
MEDISCAN DIAGNOSTIC SERVICES, LLC,

a California limited liability company

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ William J. Grubbs 

	 	 	
Name: William J. Grubbs 

	 	 	
Title: Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

INCREMENTAL TERM LOAN AMENDMENT

 

	
ADMINISTRATIVE AGENT: 

	
SUNTRUST BANK, as Administrative Agent 

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ Sheryl Squires Kerley

	 	 	
Name: Sheryl Squires Kerley

	 	 	
Title: Vice President

 

 

	

INCREMENTAL

TERM LOAN

LENDER:

	
 

SUNTRUST BANK,

as a Lender

	
 

	 	 
	 	 	 
	 	By: 	 
	 	 	
/s/ Sheryl Squires Kerley

	 	 	
Name: Sheryl Squires Kerley

	 	 	
Title: Vice President

 

 

CROSS COUNTRY HEALTHCARE, INC.

SECOND AMENDMENT TO CREDIT AGREEMENT

 

 

EXHIBIT A

	
Lender

	
Incremental Term Loan Commitment

	
SunTrust Bank

	
$40,000,000

	
Total:

	
$40,000,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00272-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00272-of-00352.parquet"}]]