Document:

a50709063ex10_1.htm

Exhibit 10.1

 

 

 

 

TWELFTH AMENDMENT TO

NINTH AMENDED AND RESTATED

CREDIT AGREEMENT

This TWELFTH AMENDMENT dated as of August 29, 2013 (this “Amendment”), to that certain NINTH AMENDED AND RESTATED CREDIT AGREEMENT, as amended (as so amended, the “Credit Agreement”), dated as of December 31, 2003, is among GULF ISLAND FABRICATION, INC., a Louisiana corporation (“Borrower”), GULF ISLAND, L.L.C., a Louisiana limited liability company, DOLPHIN SERVICES, L.L.C., a Louisiana limited liability company and successor by merger to Dolphin Services, Inc., SOUTHPORT, L.L.C., a Louisiana limited liability company and successor by merger to Southport, Inc., GULF ISLAND MINDOC COMPANY, L.L.C. (formerly Vanguard Ocean Services, L.L.C.), a Louisiana limited liability company, GULF MARINE FABRICATORS, L.P. (formerly G.M. FABRICATORS, L.P. and NEW VISION L.P.), a Texas limited partnership, GULF MARINE FABRICATORS GENERAL PARTNER, L.L.C., (formerly NEW VISION GENERAL PARTNER, L.L.C.), a Louisiana limited liability company, and GULF MARINE FABRICATORS LIMITED PARTNER, L.L.C. (formerly NEW VISION LIMITED PARTNER, L.L.C.), a Louisiana limited liability company, (“Existing Guarantors”) and GULF ISLAND MARINE FABRICATORS, L.L.C., a Louisiana limited liability company, and DOLPHIN STEEL SALES, L.L.C., a Louisiana limited liability company (“New Guarantors”; and together with Existing Guarantors, “Guarantors”), WHITNEY BANK, a Louisiana state chartered bank (formerly known as Hancock Bank of Louisiana, successor by merger to Whitney National Bank) (“Whitney”), and JPMORGAN CHASE BANK, N.A. (successor by merger to BANK ONE, N.A., Chicago) in its individual capacity (“JPMorgan”) (Whitney and JPMorgan, each a “Lender” and collectively the “Lenders”) and JPMorgan, as Agent and LC Issuer.

 

WHEREAS, the Borrower and Guarantors have requested certain amendments to the Credit Agreement; and

 

WHEREAS, the Lenders are agreeable thereto, on the terms and conditions set forth herein;

 

NOW, THEREFORE, the parties hereto do hereby amend the Credit Agreement, all on the terms and conditions hereof and do hereby agree as follows:

 

1.         Definitions.  Unless otherwise defined herein, all defined terms used in this Amendment shall have the same meaning ascribed to such terms in the Credit Agreement.

 

2.         Conditions Precedent.  Before this Amendment becomes effective and any party  becomes obligated under it, all of the following conditions shall have been satisfied at Borrower’s sole cost and expense in a manner acceptable to Agent in the exercise of Agent’s sole judgment:

 

(a) Agent shall have received fully executed counterparts of this Amendment;

 

(b) Agent shall have received fully executed counterparts to amendments to security agreements of Borrower and Guarantors granting security interests in receivables of each Guarantor and other collateral of New Guarantors;

 

  

  

  

 

(c) Agent shall have received fully executed counterparts of a joinder by which New Guarantors shall become obligated as guarantors under the Amended and Restated Subsidiary Continuing Guaranty dated as of January 30, 2006;

 

(d) Agent shall have received satisfactory resolutions and consents of Borrower and Guarantor; and

 

(e) Agent shall have received satisfactory lien searches.

 

3.        New Guarantors.  New Guarantors hereby join in the Credit Agreement as a Guarantor for all purposes, have executed a joinder of the Guaranty, and agree to be bound by and to comply with the terms and conditions of the Credit Agreement to the same extent and with the same force and effect as if they had been a signatory thereto.  All references in the Credit Agreement to Guarantors or a Guarantor shall include New Guarantors.

 

4.        Amendment to Section 6.14(ix).  The Credit Agreement is hereby amended by amending Section 6.14(ix) of the Credit Agreement to read in its entirety as follows:

 

	
  

	
(ix)

	
Liens on other assets not exceeding $2,000,000 in value; provided, however, that such Liens shall not affect any tracts of land, buildings, or component parts of Borrower or any of its Subsidiaries.

 

5.        Amendment to Section 6.19.  The Credit Agreement is hereby amended by amending and strating Section 6.19 to read in its entirety as follows:

 

6.19.  New Subsidiary.  Promptly upon forming or acquiring any Subsidiary, other than an Excluded Subsidiary, Borrower shall cause the Subsidiary to execute a guaranty of the Secured Obligations in the form of the Guaranty and to execute a security agreement granting a first priority security interest in all assets of such Subsidiary.

 

6.        Release.  Lenders hereby authorize and direct Agent to grant a complete release of any mortgage affecting immovable property of Borrower or Guarantors located in the State of Louisiana and to authorize the filing of UCC terminations in connection therewith.

 

7.        Waiver of Default.  The Lenders waive any default under the Credit Agreement arising from the failure of the Borrower to cause New Guarantors to execute a guaranty promptly upon their formation in 2008.

 

8.        Payment of Fees and Expenses.  Borrower agrees to pay to Lender within ten (10) days of receipt of invoices therefor, in immediately available funds, all of the internal and external costs and expenses incurred by Lender in connection with this Amendment, including, without limitation, inside and outside attorneys, processing, documentation, title, filing, recording costs, expenses (including but not limited to, appraisal expenses), and fees.

 

  

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9.        Confirmation.  Except to the extent its provisions are specifically amended, modified or superseded by this Amendment, the representations, warranties and affirmative and negative covenants of the Borrower and Guarantors contained in the Credit Agreement are incorporated herein by reference for all purposes as if copied herein in full.  The Borrower and Guarantors hereby restate and reaffirm each and every term and provision of the Credit Agreement, as amended, including, without limitation, all representations, warranties and affirmative and negative covenants.  Except to the extent its provisions are specifically amended, modified or superseded by this Amendment, the Credit Agreement, as amended, and all terms and provisions thereof shall remain in full force and effect, and the same in all respects are confirmed and approved by the parties hereto.

 

10.      Acknowledgment.  Borrower and each Guarantor acknowledge and agree that this Amendment shall not be considered a novation or a new contract.  Borrower and each Guarantor acknowledge that all existing rights, titles, powers, Liens, security interests and estates in favor of the Lenders constitute valid and existing obligations and Liens and security interests as against the Collateral in favor of the Agent for the benefit of the Lenders.  Borrower and each Guarantor confirm and agree that (a) neither the execution of this Amendment nor the consummation of the transactions described herein shall in any way effect, impair or limit the covenants, liabilities, obligations and duties of the Borrower and each Guarantor under the Loan Documents, and (b) the obligations evidenced and secured by the Loan Documents continue in full force and effect.  Each Guarantor hereby further confirms that it unconditionally guarantees to the extent set forth in the Guaranty the due and punctual payment and performance of any and all amounts and obligations owed the Borrower under the Credit Agreement or the other Loan Documents.

 

11.      Security Devices.  Borrower and each Guarantor that has executed or is executing any mortgage, security agreement, pledge, or other security device as security for the obligations under the Credit Agreement hereby acknowledges and affirms that such security remains in effect for the Obligations.  Further, Borrower and each Guarantor agree to execute such amendments, modifications, and additions as may be requested by Agent from time to time.

 

12.      Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.

 

13.      Choice of Law.  THIS AMENDMENT AND THE LOAN DOCUMENTS (OTHER THAN THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF LOUISIANA, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS.

 

[Signature pages follow]

 

  

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IN WITNESS WHEREOF, the Borrower and the Guarantors have executed this Amendment on September 12, 2013, to be effective as of the date first above written, and the Lenders, the LC Issuer and the Agent have executed this Amendment on the dates set forth below their signatures, to be effective as of the date first above written.

 

 

	 	
BORROWER:

 

GULF ISLAND FABRICATION, INC.

	 	 	 
	 	 	 
	 	By: 	/s/ Kirk J. Meche 
	 	Name: 	Kirk J. Meche 
	 	Title: 	Chief Executive Officer 

 

 

	 	

GUARANTORS:

 

GULF ISLAND, L.L.C.

	 	 	 	 
	 	By: 	Gulf Island Fabrication, Inc., its Sole Member 
	 	 	 	 
	 	 	By:	/s/ Kirk J. Meche 
	 	 	Name:	Kirk J. Meche 
	 	 	Title: 	Chief Executive Officer 

 

 

	 	DOLPHIN SERVICES, L.L.C.,
	 	 	 	 
	 	By: 	Gulf Island Fabrication, Inc., its Manager 
	 	 	 	 
	 	 	By:	/s/ Kirk J. Meche 
	 	 	Name:	Kirk J. Meche 
	 	 	Title: 	Chief Executive Officer 

 

 

	 	SOUTHPORT, L.L.C.
	 	 	 	 	 
	 	By: 	Gulf Island, L.L.C., its Sole Member
	 	 	 
	 	 	By: 	Gulf Island Fabrication, Inc., its Sole Member 
	 	 	 	 
	 	 	 	By:	/s/ Kirk J. Meche 
	 	 	 	Name:	Kirk J. Meche 
	 	 	 	Title: 	Chief Executive Officer 

 

  

Signature Page 1

  

 

	 	
GUARANTORS: (cont’d)

 

GULF ISLAND MINDOC COMPANY, L.L.C.

	 	 	 	 
	 	By: 	Gulf Island Fabrication, Inc., its Manager
	 	 	 	 
	 	 	By:	/s/ Kirk J. Meche 
	 	 	Name:	Kirk J. Meche 
	 	 	Title: 	Chief Executive Officer 

 

 

	 	

GULF MARINE FABRICATORS, L.P.

	 	 	 	 
	 	By: 	Gulf Marine Fabricators General Partner, L.L.C., its General Partner
	 	 	 	 
	 	 	By:	/s/ Kirk J. Meche 
	 	 	Name:	Kirk J. Meche 
	 	 	Title: 	Manager

 

 

	 	

GULF MARINE FABRICATORS GENERAL PARTNER, L.L.C.

	 	 	 
	 	By:	/s/ Kirk J. Meche 
	 	Name:	Kirk J. Meche 
	 	Title: 	Manager

 

 

	 	

GULF MARINE FABRICATORS LIMITED PARTNER, L.L.C.

	 	 	 	 
	 	By: 	Gulf Island Fabrication, Inc., its Manager
	 	 	 	 
	 	 	By:	/s/ Kirk J. Meche 
	 	 	Name:	Kirk J. Meche 
	 	 	Title: 	Chief Executive Officer

  

Signature Page 2

  

 

	 	
GUARANTORS: (cont’d)

 

GULF ISLAND MARINE FABRICATORS, L.L.C.

	 	 	 	 
	 	By: 	Gulf Island Fabrication, Inc., its Sole Member
	 	 	 	 
	 	 	By:	/s/ Kirk J. Meche 
	 	 	Name:	Kirk J. Meche 
	 	 	Title: 	Chief Executive Officer 

 

 

	 	
DOLPHIN STEEL SALES, L.L.C.

	 	 	 	 
	 	By: 	Gulf Island Fabrication, Inc., its Manager
	 	 	 	 
	 	 	By:	/s/ Kirk J. Meche 
	 	 	Name:	Kirk J. Meche 
	 	 	Title: 	Chief Executive Officer 

 

  

Signature Page 3

  

          

	 	
LENDERS:

 

JPMORGAN CHASE BANK, N.A.,

	 	
Successor by merger to Bank One, NA, Chicago,

Individually, as LC Issuer, and as Agent

	 	 	 	 
	 	 	 	 
	 	By: 	 	/s/ Donald Hunt 
	 	 	 	
Donald Hunt, Vice President

	 	 	 	 
	Commitment:  $40,000,000.00 	Date: 	September 12, 2013 

 

  

Signature Page 4

  

 

           

	 	
LENDERS: (cont’d)

 

WHITNEY BANK

	 	
 

	 	 	 	 
	 	 	 	 
	 	By: 	 	/s/ Josh J. Jones
	 	 	 	
Josh J. Jones

	 	 	 	Area President South Central Region 
	 	 	 	 
	Commitment:  $40,000,000.00	Date: 	September 13, 2013 

 

 

Signature Page 5Exhibit 10.6.3

 

THIRD AMENDMENT TO CREDIT AGREEMENT

 

THIS THIRD AMENDMENT
TO CREDIT AGREEMENT (this “Amendment”) is made and entered into as of March 14, 2013, by and between GREENWAY
MEDICAL TECHNOLOGIES, INC., a Georgia corporation, as the borrower (the “Borrower”), each of the lenders party
hereto (collectively, the “Lenders”), and BANK OF AMERICA, N.A., a national banking association, as the administrative
agent (together with its successors and assigns, the “Administrative Agent”).

 

W I T N
E S S E T H:

 

WHEREAS, the Borrower,
the Lenders, and the Administrative Agent are parties to that certain Credit Agreement dated as of March 22, 2011, as amended
by that certain First Amendment to, Limited Waiver and Consent Under Credit Agreement dated as of September 23, 2011 and that
certain Second Amendment to and Consent Under Credit Agreement dated as of December 1, 2011 (as the same may be further amended,
restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”), pursuant to which,
among other things, the Lenders have extended certain financial accommodations to the Borrower;

 

WHEREAS, the Borrower
has requested that the Administrative Agent and the Lenders amend certain provisions of the Credit Agreement as set forth herein;
and

 

WHEREAS, the Administrative
Agent and the Lenders have agreed to the Borrower’s request upon and subject to the terms and conditions hereinafter set
forth.

 

NOW, THEREFORE,
in consideration of the premises, the terms and conditions contained herein, and other good and valuable consideration, the receipt,
adequacy and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1. Definitions.
All capitalized terms used herein and in the above recitals and not expressly defined herein shall have the same respective
meanings given to such terms in the Credit Agreement. Each reference to “hereof,” “hereunder,” “herein,”
and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar
reference contained in the Credit Agreement shall from and after the date hereof refer to the Credit Agreement as amended hereby.

 

2. Amendments
to Credit Agreement.

 

(a) The definition
of “L/C Expiration Date” in Section 1.01 of the Credit Agreement is hereby amended and restated to read, in
its entirety, as follows:

 

“L/C
Expiration Date” means the day that is fifteen days prior to the Maturity Date then in effect (or, if such day is not
a Business Day, the next preceding Business Day).

 

(b) The definition
of “Maturity Date” in Section 1.01 of the Credit Agreement is hereby amended and restated to read, in its entirety,
as follows:

    	 

    	 

    

“Maturity
Date” means June 19, 2013; provided, however, that if such date is not a Business Day, the Maturity Date
shall be the next preceding Business Day.

 

3. Representations
and Warranties. The Borrower hereby represents and warrants to and in favor of the Administrative Agent and the Lenders as
follows:

 

(a) each representation
and warranty set forth in Article V of the Credit Agreement is true and correct in all material respects as of the date
hereof (except with respect to representations and warranties made as of an expressed date, in which case such representations
and warranties shall have been true and correct in all material respects as of such date);

 

(b) the Borrower has
the corporate power and authority to enter into this Amendment and to do all acts and things as are required or contemplated hereunder
to be done, observed and performed by it;

 

(c) this Amendment
has been duly authorized, validly executed and delivered by one or more Responsible Officers of the Borrower, and constitutes the
legal, valid and binding obligations of the Borrower, enforceable against the Borrower in accordance with its terms; and

 

(d) the execution
and delivery of this Amendment and performance by the Borrower under the Credit Agreement, as amended hereby, does not and will
not require the consent or approval of any regulatory authority or governmental authority or agency having jurisdiction over the
Borrower which has not already been obtained, nor be in contravention of or in conflict with any Organization Documents of the
Borrower, or any provision of any statute, judgment, order, indenture, instrument, agreement, or undertaking, to which the Borrower
is party or by which the Borrower’s assets or properties are bound.

 

4. Conditions
Precedent to Effectiveness of Amendment. This amendment shall be effective upon satisfaction of the following conditions precedent,
each in form and substance satisfactory to the Administrative Agent, as applicable:

 

(a) all of the representations
and warranties of the Borrower under Section 3 hereof which are made as of the date hereof, shall be true and correct in all material
respects; and

 

(b) execution and
delivery of this Amendment by each of the Borrower, the Administrative Agent, and the Lenders.

 

5. Effect
of Amendment; No Novation. Except as expressly set forth herein, the Credit Agreement shall remain in full force and
effect and shall constitute the legal, valid, binding and enforceable obligation of the Borrower to the Administrative Agent
and the Lenders, and Borrower hereby restates, ratifies and reaffirms each and every term and condition set forth in the
Credit Agreement. The terms of this Amendment are not intended to and do not serve as a novation as to the Credit Agreement,
any Note or the indebtedness evidenced thereby. The parties hereto expressly do not intend to extinguish any debt or security
interest created pursuant to the Credit Agreement or any document executed in connection therewith. Instead it is the express
intention to affirm the Credit Agreement and the security created thereby. The amendments agreed to herein shall not
constitute a modification of the Credit Agreement or a course of dealing with the Administrative Agent or the Lenders at
variance with the Credit Agreement such as to require further notice by the Administrative Agent or any Lender to require
strict compliance with the terms of the Credit Agreement in the future.

 

    	

    	 

    

6. Counterparts.
This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each
of which, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall
constitute but one and the same instrument. Delivery of an executed counterpart of this Amendment by facsimile transmission, Adobe
Corporation’s Portable Document Format, or other electronic transmission shall be effective as delivery of a manually executed
counterpart hereof.

 

7. Successors
and Assigns. This Amendment shall be binding upon and inure to the benefit of the successors and permitted assigns of the parties
hereto.

 

8. Loan Document.
For avoidance of doubt, the Borrower, the Administrative Agent, and the Lenders hereby acknowledge and agree that this Amendment
is a Loan Document.

 

9. No Default.
To induce the Administrative Agent and the Lenders to enter into this Amendment and to continue to make advances pursuant to
the Credit Agreement (subject to the terms and conditions thereof), the Borrower hereby acknowledges and agrees that, as of the
date hereof, and after giving effect to the terms hereof, there exists (a) no Default or Event of Default and (b) no right of offset,
defense, counterclaim, claim, or objection in favor of the Borrower or arising out of or with respect to any of the Loans or other
obligations of the Borrower owed to the Administrative Agent or any Lenders under the Credit Agreement or any other Loan Document.

 

10. Further Assurances.
The Borrower agrees to take, at Borrower’s expense, such further actions as the Administrative Agent shall reasonably
request from time to time to evidence the amendments set forth herein and the transactions contemplated hereby.

 

11. Severability.
Any provision of this Amendment which is prohibited or unenforceable shall be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability
of such provision in any other jurisdiction.

 

12. Recitals
Incorporated Herein. The preamble and the recitals to this Amendment are hereby incorporated herein by this reference.

 

13. Section References.
Section titles and references used in this Amendment shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreements among the parties hereto evidenced hereby.

 

14. GOVERNING
LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF GEORGIA, WITHOUT REGARD
TO PRINCIPLES OF CONFLICTS OF LAWS.

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Amendment under seal as of the day and year first written above.

 

	BORROWER:	
        GREENWAY MEDICAL TECHNOLOGIES, INC.

         

        By: /s/ James A. Cochran

        Name: James A. Cochran

        Title: CFO

        (SEAL)

		
	ADMINISTRATIVE AGENT:	
        BANK OF AMERICA, N.A.,

        as the Administrative Agent

         

        By: /s/ Thomas M. Paulk

        Name: Thomas M. Paulk

        Title: Senior Vice President

        (SEAL)

		
	LENDERS:	
        BANK OF AMERICA, N.A., as a Lender

         

        By: /s/ Thomas M. Paulk

        Name: Thomas M. Paulk

        Title: Senior Vice President

        (SEAL)

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