Document:

EX-10.1

 Exhibit 10.1 

SECOND AMENDMENT TO CREDIT AGREEMENT 

This Second Amendment to Credit Agreement (the “Second Amendment” or “this Amendment”)
is made and entered into effective as of the 17th day of July, 2014 (the “Second Amendment Effective Date”), by and among MITCHAM INDUSTRIES, INC., a Texas corporation (“Borrower”), HSBC BANK USA,
N.A., as administrative agent (the “Administrative Agent”) for the lenders party to the Credit Agreement referred to below (the “Lenders”), and the Lenders party hereto. 

RECITALS 
 WHEREAS, the
Borrower, Administrative Agent and the Lenders entered into that certain Credit Agreement dated as of August 2, 2013, as amended by that certain First Amendment to Credit Agreement dated December 23, 2013 (the “Credit
Agreement”); and 
 WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent amend certain provisions to
the Credit Agreement, and said parties are willing to do so subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants set forth in this Amendment, Borrower, the Lenders party hereto and the Administrative Agent agree as follows: 

1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein have the meanings assigned to them in the Credit
Agreement. 
 2. Amendments to the Credit Agreement. The Credit Agreement is hereby amended as follows: 

(a) Section 7.2 of the Credit Agreement is hereby amended by deleting the word “and” at the end of
paragraph (k) thereof, adding “and” to the end of paragraph (l) thereto, and adding a new paragraph (m) after paragraph (l) thereto as follows: 

“(m) Indebtedness of a Foreign Subsidiary, provided that such Indebtedness is in favor of HSBC Bank USA, N.A. or its
Affiliates, and provided further that after giving effect to the incurrence of such Indebtedness, the Borrower and its Subsidiaries are in pro forma compliance with all the covenants set forth in Section 7.1.” 

(b) Section 7.3 of the Credit Agreement is hereby amended by amending and restating paragraph (i) in its
entirety to read as follows: 
 “(i) Liens securing Indebtedness permitted under paragraphs (j) and
(m) of Section 7.2.” 
 3. Conditions to Effectiveness. This Amendment shall be effective on the Second
Amendment Effective Date upon satisfaction of each of the following conditions: 

 (a) the Administrative Agent (or its counsel) shall have received from each of
the Borrower and Lenders constituting at least the Required Lenders either (a) a counterpart of this Amendment signed on behalf of such party or (b) written evidence satisfactory to the Administrative Agent (which may include telecopy
transmission of a signed signature page of this Amendment) that such party has signed a counterpart of this Amendment; 
 (b)
the Administrative Agent shall have received all amounts due and owing to it on or prior to the Second Amendment Effective Date, including payment of all other fees and reimbursement or payment of all legal fees and other expenses required to be
reimbursed or paid by the Borrower to the extent that invoices have been provided to the Borrower; 
 (c) the Administrative
Agent shall have received all documents and other items that it may reasonably request relating to any other matters relevant hereto, all in form and substance satisfactory to the Administrative Agent; and 

(d) no Default or Event of Default shall exist. 

4. Continuing Effect of the Credit Agreement. This Amendment shall not constitute a waiver of any provision not
expressly referred to herein and shall not be construed as a consent to any action on the part of the Borrower that would require a waiver or consent of the Lenders or an amendment or modification to any term of the Loan Documents except as
expressly stated herein. Except as expressly modified hereby, the provisions of the Credit Agreement and the Loan Documents are and shall remain in full force and effect. 

5. Ratification and Affirmation; Representations and Warranties. The Borrower does hereby adopt, ratify, and confirm
the Credit Agreement and the other Loan Documents, as amended hereby, and its obligations thereunder. The Borrower hereby (a) acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees
that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby and (b) represents and warrants to the Lenders that: (i) as of the date hereof, after giving effect to the terms of this
Amendment, all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse
Effect qualification, which shall be true and correct in all respects), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be
true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such specified earlier date and
(ii) (A) as of the date hereof, no Default has occurred and is continuing and (B) immediately after giving effect to this Amendment, no Default will have occurred and be continuing. 

6. Loan Document. This Amendment and each agreement, instrument, certificate or document executed by the Borrower or
any of its officers in connection therewith are “Loan Documents” as defined and described in the Credit Agreement and all of the terms and provisions of the Loan Documents relating to other Loan Documents shall apply hereto and thereto.

 7. Counterparts. This Amendment may be executed by all parties hereto in any number of
separate counterparts each of which may be delivered in original, electronic or facsimile form and all of such counterparts taken together shall be deemed to constitute one and the same instrument. 

8. References. The words “hereby,” “herein,” “hereinabove,” “hereinafter,”
“hereinbelow,” “hereof,” “hereunder” and words of similar import when used in this Amendment shall refer to this Amendment as a whole and not to any particular article, section or provision of this Amendment. References
in this Amendment to an article or section number are to such articles or sections of this Amendment unless otherwise specified. 
 9.
Headings Descriptive. The headings of the several sections and subsections of this Amendment are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Amendment. 

10. Governing Law. This Amendment shall be governed by and construed in accordance with the law of the State of New York, without
regard to such state’s conflict of laws rules. 
 11. Release by Borrower. Borrower does hereby release and forever discharge
the Administrative Agent and each of the Lenders and each affiliate thereof and each of their respective employees, officers, directors, trustees, agents, attorneys, successors, assigns or other representatives from any and all claims, demands,
damages, actions, cross-actions, causes of action, costs and expenses (including legal expenses), of any kind or nature whatsoever known to any Loan Party, whether based on law or equity, which any of said parties has held or may now own or hold,
for or because of any matter or thing done, omitted or suffered to be done on or before the actual date upon which this Amendment is signed by any of such parties (i) arising directly or indirectly out of the Credit Agreement, Loan Documents,
or any other documents, instruments or any other transactions relating thereto and/or (ii) relating directly or indirectly to all transactions by and between the Borrower or its representatives and the Administrative Agent and each Lender or
any of their respective directors, officers, agents, employees, attorneys or other representatives and, in either case, whether or not caused by the sole or partial negligence of any indemnified party. Such release, waiver, acquittal
and discharge shall and does include any claims of any kind or nature which may, or could be, asserted by the Borrower. 
 12. Final
Agreement of the Parties. THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
 [Signature Pages Follow] 

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

			
	BORROWER:
	
	 MITCHAM INDUSTRIES, INC.,
 a Texas
corporation

		
	By:	 	/s/ Robert P. Capps
	Name:	 	Robert P. Capps
	Title:	 	Executive Vice President

 [Signature page to Second Amendment to Credit Agreement] 

 
			
	ADMINISTRATIVE AGENT :
	
	 HSBC BANK USA, N.A.

		
	By:	 	/s/ Ecliff Jackman
	Name:	 	Ecliff Jackman
	Title:	 	Vice President

 [Signature page to Second Amendment to Credit Agreement] 

 
			
	ADMINISTRATIVE AGENT :
	HSBC BANK USA, N.A.
		
	By:	 	 /s/ Brian Turner

	Name:	 	Brian Turner
	Title:	 	Vice President – Relationship Manager

 [Signature page to Second Amendment to Credit Agreement] 

 
			
	LENDER:
	
	 PROSPERITY BANK (formerly known as First

Victoria National Bank)

		
	By:	 	 /s/ Herschel Vansickle

	Name:	 	Herschel Vansickle
	Title:	 	SR. Vice President

 [Signature page to Second Amendment to Credit Agreement]Exhibit 10.1

 

AMENDMENT NO. 4

TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

This AMENDMENT NO. 4 dated as of August 28, 2014 (this "Amendment") is made by and among SYSTEMAX INC., a corporation organized under the laws of the State of Delaware ("SYX"), each Borrower listed on the signature pages below (together with SYX, each a "Borrower" and collectively, the "Borrowers"), each Guarantor listed on the signature pages below (the "Guarantors" and together with the Borrowers, the "Loan Parties"), the lenders party hereto, and JPMORGAN CHASE BANK, N.A., as US Administrative Agent ("Administrative Agent").

WITNESSETH:

WHEREAS, Borrowers, Lenders and Administrative Agent are parties to that certain Second Amended and Restated Credit Agreement dated as of October 27, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement").  All capitalized terms not otherwise defined herein shall have the meanings given to them in the Credit Agreement;

WHEREAS, Borrowers have requested that Administrative Agent and Lenders make certain amendments to the Credit Agreement, and Administrative Agent and Lenders are willing to do so on the terms and conditions hereafter set forth;

NOW, THEREFORE, in consideration of the promises, the covenants and agreements contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties do hereby agree that all capitalized terms used herein shall have the meanings ascribed thereto in the Credit Agreement and do hereby further agree as follows:

AGREEMENT

1.            Amendment to Credit Agreement.  Subject to satisfaction of the conditions precedent set forth in Section 3 below, the Credit Agreement is hereby amended as follows:

 

(a)            Section 6.04 of the Credit Agreement is hereby amended by deleting the text "$130,000,000" contained in subclause (B) of the proviso to each of clauses (c), (d) and (e), and in each case, inserting the text "$160,000,000" in lieu thereof.

 

2.            Representations and Warranties.  To induce Administrative Agent and Lenders to enter into this Amendment, each Loan Party hereto hereby warrants, represents and covenants to Administrative Agent and Lenders that: (a) each representation and warranty of the Loan Parties set forth in the Credit Agreement and the other Loan Documents is hereby restated and reaffirmed as true and correct on and as of the date hereof after giving effect to this Amendment except for those representations and warranties which relate to a specific date, which are true and correct as of such date, and no Default or Event of Default has occurred and is continuing under the Credit Agreement and the other Loan Documents after giving effect to this Amendment and (b) each Loan Party has the power and is duly authorized to enter into, deliver and perform this Amendment, and this Amendment is the legal, valid and binding obligation of each Loan Party enforceable against it in accordance with its terms.

 

3.            Conditions Precedent to Effectiveness of this Amendment.  This Amendment shall become effective on the date upon which the Administrative Agent has received a copy of this Amendment duly executed and delivered by each Loan Party and Required Lenders (which may be sent by electronic transmission for purposes of meeting this condition), in form and substance satisfactory to the Administrative Agent and its counsel, with four (4) original counterparts to be promptly provided to Administrative Agent.

 

4.            Continuing Effect of Credit Agreement.  The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Administrative Agent and Lenders, nor constitute a waiver of any provision of the Credit Agreement, or any other documents, instruments or agreements executed and/or delivered under or in connection therewith.  Except as expressly amended and modified hereby, the provisions of the Credit Agreement, the Loan Documents and the Liens granted thereunder, are and shall remain in full force and effect.

 

5.            Counterparts; Telecopied Signatures.  This Amendment may be executed in multiple counterparts, each of which shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement.  Any signature delivered by a party to this Amendment by facsimile or electronic transmission of a PDF or similar file shall be deemed to be an original signature hereto.

 

6.            Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS.

 

[THE REMAINDER OF THIS PAGE IS LEFT INTENTIONALLY BLANK]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year specified at the beginning hereof.

Borrowers

SYSTEMAX INC.

By: /s/ Lawrence P. Reinhold

Name:  Lawrence P. Reinhold

Title:  Chief Financial Officer

INFOTEL DISTRIBUTORS INC.

GLOBAL COMPUTER SUPPLIES INC.

GLOBAL EQUIPMENT COMPANY INC.

TIGERDIRECT, INC.

NEXEL INDUSTRIES, INC.

ONREBATE.COM INC.

PAPIER CATALOGUES, INC.

TEK SERV INC.

GLOBAL GOV/ED SOLUTIONS INC.

GLOBAL GOVERNMENT & EDUCATION INC.

SYX DISTRIBUTION INC.

SYX SERVICES INC.

STREAK PRODUCTS INC.

NEW SAH CORP.

MISCO AMERICA INC.

TIGERDIRECT RETAIL SERVICES INC.

WORLDWIDE REBATES, INC.

CIRCUITCITY.COM INC.

 SOFTWARE LICENSING CENTER INC.

TARGET ADVERTISING INC.

GLOBAL INDUSTRIAL DISTRIBUTION INC.

By: /s/ Thomas Axmacher

Name:  Thomas Axmacher

Title:  Vice President

 

Guarantors

GLOBAL INDUSTRIAL HOLDINGS LLC

SYX NORTH AMERICAN TECH HOLDINGS LLC

 REBATE HOLDINGS LLC

SYX S.A. HOLDINGS INC.

SYX S.A. HOLDINGS II INC.

 GLOBAL INDUSTRIAL MARKETPLACE INC.

SYSTEMAX GLOBAL SOLUTIONS INC.

GLOBAL INDUSTRIAL MEXICO HOLDINGS INC.

GLOBAL INDUSTRIAL MEXICO HOLDINGS II INC.

GLOBAL INDUSTRIAL SERVICES INC.

By: /s/ Thomas Axmacher

Name:  Thomas Axmacher

Title:  Vice President

 

JPMORGAN CHASE BANK, N.A., as US Administrative Agent and as a Lender

By: /s/ Donna M. DiForio

Name:  Donna M. DiForio

Title:  Authorized Officer

 

HSBC BANK USA, N.A., as a Lender

By: /s/ Thomas K. Kainamura

Name:  Thomas K. Kainamura

Title:  Vice President

WELLS FARGO CAPITAL FINANCE, LLC, as a Lender

By: /s/ Nathan McIntosh

Name:  Nathan McIntosh                                                                      

Title:  Duly Authorized Signer

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