Document:

Exhibit 10.1

 

FOURTH
MODIFICATION TO LOAN AGREEMENT

 

and FIRST
modification and allonge to AMENDED AND RESTATED promissory note

 

This FOURTH MODIFICATION
TO LOAN AGREEMENT AND FIRST MODIFICATION AND ALLONGE TO AMENDED AND RESTATED PROMISSORY NOTE (this “Agreement”) is
made as of the 18th day of December, 2020, by and between RANOR, INC., a Delaware corporation (the “Borrower”),
and BERKSHIRE BANK, a savings bank organized and existing under the laws of the Commonwealth of Massachusetts (“Lender”),
successor by merger to Commerce Bank & Trust Company, in the following circumstances:

 

A.               
Lender has made a term loan to Borrower in the original principal amount of $2,850,000.00 (the “Term Loan”),
which Term Loan is evidenced by that certain Promissory Note dated December 20, 2016, made by Borrower in favor of Lender in the
stated principal amount of $2,850,000.00 (the “Term Note”) and has made a revolving line of credit loan to the Borrower
in the maximum principal amount of $3,000,000.00 (the “Line of Credit” and together with the Term Loan, collectively,
the “Loans”), which Line of Credit is evidenced by that certain Amended and Restated Promissory Note dated December
23, 2019, made by Borrower in favor of Lender in the stated principal amount of $3,000,000.00 (the “Line of Credit Note”
and together with the Term Note, collectively, the “Notes”). The Notes are governed by the Loan Agreement by and between
Borrower and Lender dated December 20, 2016, as amended by that certain First Modification to Loan Agreement dated as of June 6,
2018, as further amended by the Second Modification to Loan Agreement and First Modification and Allonge to Promissory Note dated
as of December 19, 2018, and as further amended by the Third Modification to Loan Agreement dated as of December 23, 2019 (as amended,
the “Loan Agreement”). Any capitalized terms used but not expressly defined herein shall be given the same meaning
given to such term in the Loan Agreement.

 

B.                
The Notes are secured by a lien on the assets of Borrower pursuant to that certain Security Agreement by and between Borrower
and Lender dated December 20, 2016 (the “Security Agreement”). The Notes are further secured by that certain Mortgage,
Security Agreement and Financing Statement dated December 20, 2016 made by Borrower in favor of Lender, as amended by that certain
First Modification to Mortgage, Security Agreement and Financing Statement dated as of December 23, 2019 (as amended, the “Mortgage”).
The Notes are further secured by the unlimited guaranty of TechPrecision Corporation, a Delaware corporation (“Guarantor”)
pursuant to that certain Unlimited Guaranty dated as of December 20, 2016 made by Guarantor in favor of Lender (the “Guaranty”).

 

C.       Borrower
has requested that Lender extend the maturity of the Line of Credit, and Lender has agreed on the condition that the Loan Agreement
be modified as set forth herein.

 

NOW, THEREFORE, in consideration
of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereby agree as follows:

 

1.                 
The Loan Agreement is hereby amended as follows:

 

    	Fourth Modification to Loan Agreement and
First Modification and Allonge to Amended and Restated Promissory Note
 Berkshire Bank/Ranor, Inc.
		 

     

    

 

1.1             
The last sentence of Section 2.7(b) of the Loan Agreement is hereby deleted and the following sentence is inserted in place
thereof and substituted therefor:

 

“If
the alternate rate of interest determined pursuant to this Section 2.7(b) shall be less than one-half of one percent (0.50%), such
rate shall be deemed to be one-half of one percent (0.50%) for the purposes of this Agreement.”

 

1.2             
Appendix I of the Loan Agreement is hereby amended by deleting the definitions of “Adjusted Prime Rate”, “LIBOR
Rate” and “Revolver Maturity Date” and inserting the following definitions in place thereof and substituted therefor:

 

“Adjusted
Prime Rate” means the greater of: (i) the Prime Rate, minus seventy (70) basis points, or (ii) two and three-quarters
percent (2.75%).

 

“LIBOR
Rate” means the greater of (a) the rate of interest per annum in U.S. dollars (rounded upwards, at the Bank’s option,
to the next 1/8th of one percent) equal to the London interbank offered rate for deposits in U.S. dollars as administered by the
ICE Benchmark Administration Limited (“ICE”, or the successor thereto if ICE is no longer quoting or administering
the London interbank offered rate) (“ICE LIBOR”) for the equivalent LIBOR Interest Period as published by ICE (or such
other commercially available source providing quotations of ICE LIBOR as designated by Bank from time to time) at approximately
11:00 A.M. (London time) two (2) Business Days prior to the first day on which such LIBOR Interest Period commences and (b) one-half
of one percent (0.50%).

 

“Revolver
Maturity Date. December 20, 2022.”

 

2.                 
The Line of Credit Note is hereby amended as follows:

 

2.1       The
second sentence of the second paragraph on page 1 of the Line of Credit Note is hereby deleted in its entirety and the following
is inserted in place thereof and substituted therefor:

 

“The aggregate
unpaid principal balance of this Note shall be paid, plus any accrued and unpaid interest, on December 20, 2022.”

 

3.                 
Borrower and Lender hereby agree to further amend the Loan Agreement within thirty (30) days of the date hereof (or such
later date approved by Lender) by deleting Schedule I thereto and inserting a new Schedule I, as mutually agreed upon by Borrower
and Lender, based on an updated appraisal received by Lender.

 

    	Fourth Modification to Loan Agreement and
First Modification and Allonge to Amended and Restated Promissory Note
 Berkshire Bank/Ranor, Inc.
	- 2 - 	 

     

    

 

4.                 
All security for the Loans and Notes now existing or hereafter granted to Lender, including without limitation all security
evidenced, granted or governed by the Loan Agreement as amended hereby, the Security Agreement, the Guaranty, and the Mortgage
shall be security for the Loans, as amended hereby, and the Notes and for all obligations of Borrower under this Agreement, under
the Notes and under the Loan Agreement, as amended by this Agreement.

 

5.                 
All references to the Loan Agreement, wherever, whenever or however made or contained, are hereby deemed to be references
to the Loan Agreement, as modified by this Agreement. By signing this Agreement in the space indicated below, Borrower hereby affirms
and restates all of the covenants and agreements made and set forth in the Loan Agreement and does hereby warrant, represent and
covenant that the representations and warranties in the Loan Agreement are true, accurate and complete in all material respects
on and as of the date hereof (provided, however, that such materiality qualifier shall not be applicable to any representations
and warranties that already are qualified or modified by materiality in the text thereof, and provided, further, that those representations
and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such
date). ALL OF THE PROVISIONS OF THE LOAN AGREEMENT, AS AMENDED HEREBY, REMAIN IN FULL FORCE AND EFFECT.

 

6.                 
By signing this Agreement on behalf of the Borrower in the space designated below, the individual so signing represents
and warrants to Lender that he or she has full power and authority to execute this Agreement and to bind Borrower, and that all
corporate actions necessary to authorize and approve execution of this Agreement, and by such individual, have been taken prior
to the execution hereof.

 

7.                 
Concurrently with the execution and delivery of this Agreement, Borrower agrees to pay to Lender all reasonable and documented
expenses incurred in connection with this Agreement, including without limitation all reasonable legal fees and expenses.

 

8.                 
This Agreement shall be binding upon and shall inure to the benefit of Borrower and Lender, and their respective successors
and assigns. This Agreement has been made in the Commonwealth of Massachusetts and shall be governed, construed, applied and enforced
in accordance with the laws of said Commonwealth without resort to its conflict of laws rules. Wherever possible, each provision
of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law; should any portion of
this Agreement be declared invalid for any reason in any jurisdiction, such declaration shall have no effect upon the remaining
portions of this Agreement; furthermore, the entirety of this Agreement shall continue in full force and effect in all jurisdictions
and said remaining portions of this Agreement shall continue in full force and effect in the subject jurisdiction as if this Agreement
had been executed with the invalid portions thereof deleted.

 

9.                 
All notices and communications provided for herein shall be in writing and shall be deemed effective when deposited in the
United States mail, sent by certified mail, return receipt requested, postage prepaid, at Lender’s and Borrower’s respective
addresses set forth in the Loan Agreement, as amended hereby.

 

    	Fourth Modification to Loan Agreement and
First Modification and Allonge to Amended and Restated Promissory Note
 Berkshire Bank/Ranor, Inc.
	- 3 - 	 

     

    

 

10.             
IN THE EVENT THAT LENDER BRINGS ANY ACTION OR PROCEEDING IN CONNECTION HEREWITH IN ANY COURT OF RECORD OF MASSACHUSETTS
OR THE UNITED STATES IN MASSACHUSETTS, BORROWER HEREBY IRREVOCABLY CONSENTS TO AND CONFERS PERSONAL JURISDICTION OF SUCH COURT
OVER BORROWER BY SUCH COURT. IN ANY SUCH ACTION OR PROCEEDING, BORROWER HEREBY WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT
OR OTHER PROCESS AND AGREES THAT SERVICE THEREOF MAY BE MADE UPON BORROWER BY MAILING A COPY OF SUCH SUMMONS, COMPLAINT OR OTHER
PROCESS BY CERTIFIED MAIL TO BORROWER AT ITS ADDRESS REFERENCED IN THE LOAN AGREEMENT. BORROWER AND LENDER HEREBY WAIVE TRIAL BY
JURY IN ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT OR ANY INSTRUMENT OR
DOCUMENT DELIVERED IN CONNECTION HEREWITH, OR THE VALIDITY, PROTECTION, INTERPRETATION, COLLECTION OR ENFORCEMENT THEREOF, OR ANY
OTHER CLAIM OR DISPUTE HOWSOEVER ARISING BETWEEN BORROWER AND LENDER.

 

11.             
This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed
counterpart of a signature page of this Agreement by facsimile, email or other electronic format (.pdf or .tif) shall be effective
as delivery of a manually executed counterpart of this Agreement.

 

(Signatures appear
on the following page)

 

    	Fourth Modification to Loan Agreement and
First Modification and Allonge to Amended and Restated Promissory Note
 Berkshire Bank/Ranor, Inc.
	- 4 - 	 

     

    

 

IN WITNESS WHEREOF, the
parties hereto, by their duly authorized representatives, have executed this Agreement on the date first above written.

 

	 	RANOR, INC.
	 	 	 
	 	By: 	/s/ Thomas Sammons
	 	Name:  	Thomas Sammons
	 	Title:	Vice President, Finance
	 	 	 
	 	BERKSHIRE BANK
	 	 	 
	 	By:	/s/ Thomas McCarthy
	 	Name:	Thomas McCarthy
	 	Title:  	Vice President

 

    	Fourth Modification to Loan Agreement and
First Modification and Allonge to Amended and Restated Promissory Note
 Berkshire Bank/Ranor, Inc.
	- 5 - 	 

     

    

 

CONSENT OF GUARANTOR

 

The undersigned Guarantor
of the obligations of the Borrower as further described in the Loan Agreement and the Guaranty (hereinafter the “Obligations”)
hereby consents to the execution of the foregoing Agreement, hereby waives any claims, offsets or defenses which might otherwise
arise by reason of the execution of the foregoing, and hereby ratifies and affirms the Guaranty, and all agreements securing such
Guaranty, all of which shall remain in full force and effect until Borrower’s Obligations have been paid and performed in
full to Lender’s satisfaction. The undersigned Guarantor hereby agrees that, as of the date hereof, it has no claim or defense
of any kind by way of offset or otherwise to the payment and satisfaction in full of Borrower’s or the Guarantor’s
obligations under said documents or to the extent that such a claim or defense may exist, the undersigned hereby waives it in consideration
of the execution of the Agreement.  The Guarantor further waives any and all defenses arising by reason of (a) any and all
amendments or modifications of any documents or instrument, (b) any and all alterations, accelerations, extensions or other changes
in the time or manner of payment or performance of Obligations, (c) the release, substitution or addition of any collateral or
any guarantees, (d) any failure of the Lender to give notice of default to Borrower or Guarantor, (e) any failure of the Lender
to pursue Borrower or any of its property with due diligence, (f) any failure of the Lender to resort to collateral or to remedies
which may be available to it, (g) any and all defenses arising out of the relationship of the undersigned to Borrower, and none
of the defenses shall operate to release the undersigned as guarantor, (h) all rights of Borrower, and (i) the benefit of all other
principles or provisions of law, statutory or otherwise, which are or might be in conflict with the terms hereof.

 

The failure or refusal
of the Guarantor to execute this Consent of Guarantor shall not void such Guarantor’s Obligations, nor shall such failure
or refusal be grounds for any relief of Guarantor from its Obligations.

 

Dated as of date first above written.

 

Guarantor:

 

TechPrecision Corporation

 

 

	By:	/s/ Thomas Sammons	 
	Name:  	Thomas Sammons	 
	Title:	Chief Financial Officer	 

 

    	Fourth Modification to Loan Agreement and
First Modification and Allonge to Amended and Restated Promissory Note
 Berkshire Bank/Ranor, Inc.
	- 6 -EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 TO CREDIT AGREEMENT 

AMENDMENT NO. 1, dated as of December 17, 2020 (this “Amendment”), to the Credit Agreement, dated as of June 12,
2020 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Credit Agreement”), among Cerence Inc., a Delaware corporation (the “Borrower”), the lenders from time to time party
thereto (the “Lenders”), Wells Fargo Bank, N.A., as Administrative Agent (the “Administrative Agent”), and the other parties named therein. 

W I T N E S S E T H: 

WHEREAS, pursuant to Section 9.08(b) of the Credit Agreement, the Borrower, the Lenders party hereto, the Issuing Banks party hereto and
the Administrative Agent desire to amend the Credit Agreement as set forth in Article II below on the terms set forth herein. 
 NOW,
THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree
as follows: 
 ARTICLE I 

Definitions 

Section 1.1.    Defined Terms. Terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement (as amended hereby) unless otherwise defined herein or the context otherwise requires. 
 ARTICLE II

 Amendment 

Section 2.1.    Amendments. 

(a)    The Credit Agreement is hereby amended by inserting Exhibit A attached hereto as a new Exhibit M to the
Credit Agreement. 
 (b)    Section 1.01 of the Credit Agreement is hereby amended by inserting the following definition
in proper alphabetical order: 
 “Amendment No. 1” shall mean that certain Amendment
No. 1, dated as of December 17, 2020, to this Agreement, among the Borrower, the Lenders party thereto, the Issuing Banks party thereto and the Administrative Agent. 

(c)    The proviso at the end of the definition of “Adjusted LIBO Rate” in Section 1.01 of the Credit
Agreement is hereby amended by replacing each reference to “0.50%” with “0.00%”. 
 (d)    The
proviso at the end of the definition of “Benchmark Replacement” in Section 1.01 of the Credit Agreement is hereby amended by replacing each reference to “0.50%” with “0.00%”. 

(e)    The proviso at the end of the definition of “Federal Funds Effective Rate” in Section 1.01 of the
Credit Agreement is hereby amended by replacing each reference to “0.50%” with “0.00%”. 

 (f)    The definition of “Liquidity” in Section 1.01 of
the Credit Agreement is hereby amended by replacing the reference to “Restricted Subsidiaries” with “Subsidiaries”. 

(g)    The definition of “Loan Documents” in Section 1.01 of the Credit Agreement is hereby amended and
restated in its entirety as follows: 
 “Loan Documents” shall mean (i) this Agreement, (ii) the Subsidiary
Guarantee Agreement, (iii) the Security Documents, (iv) each Incremental Assumption Agreement, (v) any Intercreditor Agreement, (vi) any Note issued under Section 2.09(e), (vii) the Letters of Credit, (viii) Amendment
No. 1 and (ix) solely for the purposes of Sections 4.02 and 7.01 hereof, the Engagement Letter. 
 (h)    The
definition of “Pricing Grid” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“Pricing Grid” shall mean, with respect to the Initial Revolving Loans, Term A Loans and Revolving Facility Commitments, as
applicable, the table set forth below; provided that, on the Amendment No. 1 Effective Date and until the next date that any financial statements are delivered within the time periods specified in Section 5.04, the pricing level in
effect shall correspond to a Net Total Leverage Ratio of less than or equal to 2.50 to 1.00 but greater than 2.00 to 1.00: 
  

									
	 Pricing Grid for Initial
Revolving Loans and Term A Loans
	 
	 Net Total Leverage Ratio
	  	Applicable
Margin
for ABR
Loans	 	 	Applicable
Margin
for Euro-
currency
Loans	 
	 Greater than 3.00 to 1.00
	  	 	2.00	% 	 	 	3.00	% 
	 Less than or equal to 3.00 to 1.00 but greater than 2.50 to 1.00
	  	 	1.75	% 	 	 	2.75	% 
	 Less than or equal to 2.50 to 1.00 but greater than 2.00 to 1.00
	  	 	1.50	% 	 	 	2.50	% 
	 Less than or equal to 2.00 to 1.00 but greater than 1.50 to 1.00
	  	 	1.25	% 	 	 	2.25	% 
	 Less than or equal to 1.50 to 1.00
	  	 	1.00	% 	 	 	2.00	% 

  

					
	 Pricing Grid for Revolving
Facility Commitments
	 
	 Net Total Leverage Ratio
	  	Applicable
Commitment
Fee	 
	 Greater than 3.00 to 1.00
	  	 	0.500	% 
	 Less than or equal to 3.00 to 1.00 but greater than 2.50 to 1.00
	  	 	0.450	% 
	 Less than or equal to 2.50 to 1.00 but greater than 2.00 to 1.00
	  	 	0.400	% 

  
 -2- 

					
	 Pricing Grid for Revolving
Facility Commitments
	 
	 Net Total Leverage Ratio
	  	Applicable
Commitment
Fee	 
	 Less than or equal to 2.00 to 1.00 but greater than 1.50 to 1.00
	  	 	0.350	% 
	 Less than or equal to 1.50 to 1.00
	  	 	0.300	% 

 (i)    The definition of “Revolving Facility Maturity Date” in Section 1.01
of the Credit Agreement is hereby amended by replacing reference to “June 12, 2024” with “April 1, 2025” in clause (a) thereof. 

(j)    The definition of “Term A Facility Maturity Date” in Section 1.01 of the Credit Agreement is hereby
amended by replacing reference to “June 12, 2024” with “April 1, 2025”. 
 (k)    The table set
forth in Section 2.10(a)(i) of the Credit Agreement is hereby amended and restated in its entirety as follows: 
  

							
	 Month
	 	 	 	 	  	 Percentage

				
	 December 2020
	 		 		  	1.25%
				
	 March 2021
	 		 		  	1.25%
				
	 June 2021
	 		 		  	1.25%
				
	 September 2021
	 		 		  	1.25%
				
	 December 2021
	 		 		  	1.25%
				
	 March 2022
	 		 		  	1.25%
				
	 June 2022
	 		 		  	1.25%
				
	 September 2022
	 		 		  	1.25%
				
	 December 2022
	 		 		  	1.25%
				
	 March 2023
	 		 		  	2.50%
				
	 June 2023
	 		 		  	2.50%
				
	 September 2023
	 		 		  	2.50%
				
	 December 2023
	 		 		  	2.50%
				
	 March 2024
	 		 		  	2.50%
				
	 June 2024
	 		 		  	2.50%
				
	 September 2024
	 		 		  	2.50%
				
	 December 2024
	 		 		  	2.50%

  
 -3- 

 (l)    Clause (x) of Section 5.04(c) of the Credit Agreement
is hereby amended by adding “, substantially in the form of Exhibit M or another form approved by the Administrative Agent,” immediately following the words “a certificate of a Financial Officer of the
Borrower”. 
 (m)    Clause (iv) of Section 7.02 of the Credit Agreement is hereby amended and restated
in its entirety as follows: 
 fourth, towards payment of other Obligations (including Obligations of any Loan Party or Subsidiary, as
applicable, owing under or in respect of any Secured Cash Management Agreement or Secured Hedge Agreement) then due from the Borrower or any Subsidiary, ratably among the parties entitled thereto in accordance with the amounts of such Obligations
then due to such parties 
 ARTICLE III 

Conditions and Miscellaneous 

Section 3.1.    Conditions to Effectiveness of Amendment. This Amendment shall become effective on the date
(the “Amendment No. 1 Effective Date”) on which the following conditions are satisfied or waived by the Lenders and the Issuing Banks: 

(a)    The Administrative Agent (or its counsel) shall have received from each of the Borrower, the Subsidiary Loan
Parties, the Issuing Banks and all Lenders party to the Credit Agreement (i) a counterpart of this Amendment signed on behalf of such party or (ii) written evidence reasonably satisfactory to the Administrative Agent (which may include
delivery of a signed signature page of this Amendment by electronic transmission (e.g., “pdf”)) that such party has signed a counterpart of this Amendment. 

(b)    The Administrative Agent shall have received, to the extent invoiced at least one Business Day prior to the
Amendment No. 1 Effective Date, reimbursement or payment of all reasonable and documented out-of-pocket expenses (including reasonable fees, charges and
disbursements of Cahill Gordon & Reindel LLP) required to be reimbursed or paid by the Loan Parties hereunder or under any Loan Document on or prior to the Amendment No. 1 Effective Date. 

(c)    The Company shall have paid to the Administrative Agent, for the account of each Lender, an upfront fee in Dollars
equal to 0.15% of the aggregate principal amount of the Term A Loans, the Revolving Facility Loans and the Revolving Facility Commitments of such Lender as of the Amendment No. 1 Effective Date. Such fee shall be payable on, and subject to the
occurrence of, the Amendment No. 1 Effective Date. 
 (d)    (x) The representations and warranties set forth in
Section 3.2 hereof shall be true and correct as of the Amendment No. 1 Effective Date and (y) the Administrative Agent (or its counsel) shall have received a certificate of a Responsible Officer of the Borrower, dated the Amendment
No. 1 Effective Date, certifying compliance with the foregoing clause (x). 
 (e)    The Lenders shall have
received a solvency certificate substantially in the form of Exhibit C to the Credit Agreement and signed by a Financial Officer of the Borrower confirming the solvency of the Borrower and its Subsidiaries on a consolidated basis after giving effect
to this Amendment on the Amendment No. 1 Effective Date. 

  
 -4- 

 (f)    The Administrative Agent shall have received, on behalf of
itself, the Lenders and each Issuing Bank, a written opinion of Goodwin Procter LLP, as special counsel for the Loan Parties (A) dated the Amendment No. 1 Effective Date, (B) addressed to each Issuing Bank, the Administrative Agent
and the Lenders on the Amendment No. 1 Effective Date and (C) in form and substance reasonably satisfactory to the Administrative Agent covering such matters relating to the Loan Documents as the Administrative Agent shall reasonably
request. 
 (g)    The Administrative Agent shall have received the results of confirmatory searches of the UCC filings
and of such tax and judgment lien searches for the Borrower and each guarantor. 
 (h)    On or prior to the Amendment
No. 1 Effective Date, any Loan Party that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation shall have delivered, to each Lender that so requests at least five Business Days prior to the Amendment
No. 1 Effective Date, a Beneficial Ownership Certification in relation to such Loan Party. 

Section 3.2.    Representation and Warranties. Each Loan Party represents and warrants to each of the Lenders
party hereto that: 
 (a)    the execution, delivery and performance by each Loan Party of this Amendment (i) have
been duly authorized by all corporate action required to be obtained by each Loan Party and (ii) will not (A) violate (1)(x) any provision of law, statute, rule or regulation applicable to such Loan Party or (y) the certificate or
articles of incorporation or other constitutive documents or by-laws of the Borrower, (2) any applicable order of any court or any rule, regulation or order of any Governmental Authority or (3) any
provision of any indenture, certificate of designation for preferred stock, agreement or other instrument to which the applicable Loan Party is a party or by which any of them or any of their property is or may be bound or (B) result in a
breach of or constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation (including any payment) under any such indenture, certificate
of designation for preferred stock, agreement or other instrument, where any such conflict, violation, breach or default referred to in clause (A) or clause (B) of this Section 3.2(a), would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect; 
 (b)    this Amendment has been duly executed and
delivered by each of the Loan Parties and constitutes, a legal, valid and binding obligation of the Loan Parties, enforceable in accordance with its terms, subject to (i) the effects of bankruptcy, insolvency, moratorium, reorganization,
fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and (iii) implied
covenants of good faith and fair dealing; 
 (c)    the representations and warranties of the Loan Parties set forth in
the Loan Documents are true and correct in all material respects on and as of such date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in
which case such representations and warranties were true and correct in all material respects as of such earlier date) and except that the representations and warranties contained in Sections 3.05(a) and (b) of the Credit Agreement shall be
deemed to refer to the most recent financial statements furnished pursuant to Sections 5.04(a) and (b) of the Credit Agreement, respectively, prior to the Amendment No. 1 Effective Date; and 

(d)    as of the Amendment No. 1 Effective Date, the information included in the Beneficial Ownership Certification,
if applicable, is true and correct in all respects. 

  
 -5- 

 Section 3.3.    Consent and Affirmation of Subsidiary Loan
Parties. Each Subsidiary Loan Party, in its capacity as a guarantor under the Collateral Agreement and a pledgor under the other Security Documents to which such Subsidiary Loan Party is party, hereby (i) consents to the execution, delivery
and performance of this Amendment and agrees that each of the Collateral Agreement and the other Security Documents to which such Subsidiary Loan Party is party is, and shall continue to be, in full force and effect and is hereby in all respects
ratified and confirmed on the Amendment No. 1 Effective Date and (ii) confirms that the Security Documents to which such Subsidiary Loan Party is a party and all of the Collateral described therein do, and shall continue to, secure the
payment of all of the Obligations. 
 Section 3.4.    Loan Document. This Amendment is a Loan Document
executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered and applied in accordance with the terms and provisions thereof. 

Section 3.5.    Effectiveness; Counterparts; Amendments. This Amendment shall become effective when copies
hereof that, when taken together, bear the signatures of the Loan Parties and all Lenders and Issuing Banks party to the Credit Agreement shall have been received by the Administrative Agent. This Amendment may not be amended nor may any provision
hereof be waived except pursuant to a writing signed by the Borrower and all Lenders party to the Credit Agreement. This Amendment may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken
together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment. The
words “execution,” “signed,” and words of like import in this Amendment shall be deemed to include electronic signatures or electronic records, each of which shall be of the same legal effect, validity or enforceability as a
manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York
State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

Section 3.6.    No Novation. This Amendment shall not constitute a novation of the Credit Agreement or any
other Loan Document. This Amendment shall not extinguish the Obligations outstanding under the Credit Agreement or discharge or release the Lien or priority of any Security Document or any other security therefor. Nothing herein contained shall be
construed as a substitution or novation of the Obligations outstanding under the Credit Agreement, which shall remain outstanding after the Amendment No. 1 Effective Date as modified hereby except to the extent repaid as contemplated hereby.
Except as expressly set forth herein, (i) this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Issuing Banks or any other Agent, in each case
under the Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document.
Nothing implied in this Amendment or in any other document contemplated hereby shall be construed as a release or other discharge of any of the Loan Parties under any Loan Document from any of its obligations and liabilities as a borrower, guarantor
or pledgor under any of the Loan Documents. Each and every term, condition, obligation, covenant and agreement contained in the Credit Agreement (as amended hereby) and each other Loan Document is hereby ratified and
re-affirmed in all respects and shall continue in full force and effect. Each of the Loan Parties reaffirms the validity of the Liens granted by it pursuant to the Security Documents with all such Liens
continuing in full force and effect to secure the Obligations after giving to this Amendment. 

Section 3.7.    Notices. All notices hereunder shall be given in accordance with the provisions of
Section 9.01 of the Credit Agreement. 

  
 -6- 

 Section 3.8.    Applicable Law; Waiver of Jury Trial.
(A) THIS AMENDMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE
STATE OF NEW YORK, WITHOUT REGARD TO ANY PRINCIPLE OF CONFLICTS OF LAW THAT COULD REQUIRE THE APPLICATION OF ANY OTHER LAW. 
 (B) EACH
PARTY HERETO HEREBY AGREES THAT SECTIONS 9.05, 9.11 AND 9.15 OF THE CREDIT AGREEMENT ARE INCORPORATED HEREIN BY REFERENCE AND APPLY MUTATIS MUTANDIS. 

[Remainder of Page Intentionally Left Blank; Signature Pages Follow] 

  
 -7- 

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

			
	CERENCE INC.
		
	 By:
	 	   /s/ Mark Gallenberger

		 	   Name: Mark Gallenberger

  Title: Chief Financial Officer

	
	 CERENCE OPERATING COMPANY,

as a Subsidiary Loan Party

		
	By:	 	   /s/ Leanne Fitzgerald

		 	   Name: Leanne Fitzgerald

  Title: Secretary

	
	 CONSOLIDATED MOBILE CORPORATION,

as a Subsidiary Loan Party

		
	By:	 	   /s/ Leanne Fitzgerald

		 	   Name: Leanne Fitzgerald

  Title: Secretary

	
	 VOICEBOX TECHNOLOGIES LLC,

as a Subsidiary Loan Party

		
	By:	 	   /s/ Leanne Fitzgerald

		 	   Name: Leanne Fitzgerald

  Title: Secretary

 [Signature Page to Amendment No. 1] 

 
			
	 WELLS FARGO BANK, N.A.,

as Administrative Agent, Collateral Agent, an Issuing Bank and a Lender

		
	By:	 	   /s/ J. Matthew Godwin

		 	   Name: J. Matthew Godwin

		 	   Title: Vice President

	
	 TRUIST BANK,

as an Issuing Bank and a Lender

		
	By:	 	   /s/ Steve Curran

		 	   Name: Steve Curran

		 	   Title: Director

	
	 SILICON VALLEY BANK,

as an Issuing Bank and a Lender

		
	By:	 	   /s/ Frank Groccia

		 	   Name: Frank Groccia

		 	   Title: Director

	
	 CITIBANK, N.A.,

as an Issuing Bank and a Lender

		
	By:	 	   /s/ Ronald Homa

		 	   Name: Ronald Homa

		 	   Title: Director, as authorized

 [Signature Page to Amendment No. 1] 

 EXHIBIT A 

Exhibit M—Form of Compliance Certificate 

(See attached)

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