Document:

Exhibit 10.1

 

EXECUTION VERSION

 

NINTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT, dated as of March 28, 2013 (this “Amendment”), between NEW MOUNTAIN FINANCE HOLDINGS, L.L.C., a Delaware limited liability company (the “Borrower”), WELLS FARGO SECURITIES, LLC, a Delaware limited liability company (the “Administrative Agent”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as a lender (the “Lender”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as collateral custodian (the “Collateral Custodian”).

 

WHEREAS, the Borrower, the Administrative Agent, the Lender, the other lenders party from time to time thereto and the Collateral Custodian, are party to the Amended and Restated Loan and Security Agreement, dated as of May 19, 2011 (as amended from time to time prior to the date hereof, the “Loan and Security Agreement”), providing, among other things, for the making and the administration of the Advances by the lenders to the Borrower; and

 

WHEREAS, the Borrower, the Administrative Agent, the Collateral Custodian and the Lender desire to amend the Loan and Security Agreement, in accordance with Section 12.1 of the Loan and Security Agreement and subject to the terms and conditions set forth herein.

 

NOW THEREFORE, in consideration of the foregoing premises and the mutual agreements 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 used but not defined herein have the respective meanings given to such terms in the Loan and Security Agreement.

 

ARTICLE II

 

Amendments to Loan and Security Agreement

 

SECTION 2.1.              Section 1.1 of the Loan and Security Agreement and Annex B to the Loan and Security Agreement shall each be amended by deleting “$210,000,000” where it appears therein and inserting in lieu thereof “$230,000,000”.

 

SECTION 2.2.              Section 1.1 of the Loan and Security Agreement shall be amended by deleting the definitions of “Non-Usage Fee Rate” and “Specified First Lien Loan Advance Rate” and inserting the following in lieu thereof and by inserting the following definition of “Ninth Amendment Effective Date” in the appropriate alphabetical order:

 

“Non-Usage Fee Rate”:  (a) Prior to the Ninth Amendment Effective Date, (i) 0.50% of the first $75,918,701 of the Unused Facility Amount and (ii) 2.50% on the portion of

 

 

the Unused Facility Amount in excess of $75,918,701, (b) during the first six (6) months commencing on the Ninth Amendment Effective Date, (i) 0.50% of the first $84,126,127 of the Unused Facility Amount and (ii) 2.50% on the portion of the Unused Facility Amount in excess of $84,126,127 and (c) thereafter, (i) 0.50% of the first $61,333,333 of the Unused Facility Amount and (ii) 2.50% on the portion of the Unused Facility Amount in excess of $61,333,333.

 

“Ninth Amendment Effective Date”:  The date on which the Ninth Amendment, dated as of March 28, 2013, to this Agreement becomes effective.

 

ARTICLE III

 

Representations and Warranties

 

SECTION 3.1.              The Borrower hereby represents and warrants to the Administrative Agent and the Lender that, as of the date first written above, (i) no Default or Event of Default has occurred and is continuing and (ii) the representations and warranties of the Borrower contained in the Loan and Security Agreement are true and correct in all material respects on and as of such day (other than any representation and warranty that is made as of a specific date).

 

ARTICLE IV

 

Conditions Precedent

 

SECTION 4.1.              This Amendment shall become effective upon the satisfaction of the following conditions (or until such conditions are waived in writing by the Administrative Agent in its sole discretion):

 

(a)           the execution and delivery of this Amendment by the parties hereto;

 

(b)           the Borrower shall have paid, or caused to be paid, to the Administrative Agent a structuring fee in an amount equal to $214,943;

 

(c)           the Administrative Agent shall have received satisfactory evidence that the Borrower has obtained all required consents and approvals of all Persons to the execution, delivery and performance of this Amendment and the consummation of the transactions contemplated hereby;

 

(d)           each applicable Lender shall have received a duly executed copy of its Variable Funding Note, in a principal amount equal to the increased Commitment of such Lender; and

 

(e)           the Administrative Agent shall have received the executed legal opinion or opinions of Simpson Thacher & Bartlett LLP, counsel to the Borrower, covering authorization and enforceability of this Amendment in form and substance acceptable to the Administrative Agent in its reasonable discretion.

 

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ARTICLE V

 

Miscellaneous

 

SECTION 5.1.              Governing Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

SECTION 5.2.              Severability Clause.  In case any provision in this Amendment shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

SECTION 5.3.              Ratification.  Except as expressly amended hereby, the Loan and Security Agreement is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.  This Amendment shall form a part of the Loan and Security Agreement for all purposes.

 

SECTION 5.4.              Counterparts.  The parties hereto may sign one or more copies of this Amendment in counterparts, all of which together shall constitute one and the same agreement.  Delivery of an executed signature page of this Amendment by facsimile or email transmission shall be effective as delivery of a manually executed counterpart hereof.

 

SECTION 5.5.              Headings.  The headings of the Articles and Sections in this Amendment are for convenience of reference only and shall not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

 

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

 

 

	
 
    	
NEW   MOUNTAIN FINANCE HOLDINGS, L.L.C., as the Borrower
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   David M. Cordova
    
	
 
    	
Name:   
    	
David   M. Cordova
    
	
 
    	
Title:   
    	
Chief   Financial Officer and Treasurer
    

 

[Signature Page to Ninth Amendment to A&R Loan and Security Agreement]

 

 

	
 
    	
WELLS   FARGO SECURITIES, LLC,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Allan Schmitt
    
	
 
    	
 
    	
Name:   Allan Schmitt
    
	
 
    	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION,
    
	
 
    	
representing   100% of the aggregate Commitments of the Lenders in effect as of the date   hereof
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Raj Shah
    
	
 
    	
 
    	
Name:   Raj Shah
    
	
 
    	
 
    	
Title:   Managing Director
    

 

[Signature Page to Ninth Amendment to A&R Loan and Security Agreement]

 

 

	
 
    	
WELLS FARGO BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Collateral Custodian
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Roth
    
	
 
    	
 
    	
Name:   Michael Roth
    
	
 
    	
 
    	
Title:   Vice President
    

 

[Signature Page to Ninth Amendment to A&R Loan and Security Agreement]exhibit1023.htm

Exhibit 10.23

 

 

 

AMENDMENT AGREEMENT

THIS AMENDMENT AGREEMENT, dated as of November 12, 2012 (this “Agreement”), by and between by Assured Pharmacy, Inc., a Nevada corporation (the “Borrower”) and Brockington Securities, Inc., a New York corporation (the “Lender”), amends that revolving line of credit agreement, dated March 10, 2009 (the “Line of Credit”), as amended pursuant to the terms of that certain modification and extension agreement dated March 10, 2010, as amended pursuant to the terms of that certain modification and extension agreement dated March 10, 2010,  as amended pursuant to the terms of that certain modification and extension agreement dated March 10, 2010 (the “Line of Credit Amendment” and together with the Line of Credit, the “Prior Agreements”).

 

W I T N E S S E T H:

WHEREAS, pursuant to the terms of the Line of Credit, the Lender agreed to establish a Line of Credit for Borrower for a period extending to March 10, 2010.

 

WHEREAS, pursuant to the terms of the Line of Credit Amendment, the Lender agreed to extend the Line of Credit for a period extending to March 10, 2011.

 

WHEREAS, pursuant to the terms of the Line of Credit Amendment, the Lender agreed to extend the Line of Credit for a period extending to June 30, 2012.

 

WHEREAS, pursuant to the terms of the Line of Credit Amendment, the Lender agreed to extend the Line of Credit for a period extending to June 30, 2014

 

WHEREAS, the parties desire to amend the Line of Credit to increase the principal amount of the Line of Credit from $300,000 to $500,000.

 

NOW THEREFORE, in consideration of the mutual benefits accruing to Lender and Company and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby agree as follows:

 

1.           DEFINITIONS.

Defined terms not herein defined shall have the meaning set forth in the Line of Credit.

 

2.           AMENDMENT.

2.1           Amendment to the Line of Credit.  The first sentence of Section 1 is hereby amended in its entirety to the Line of Credit to be and read as follows:

“1.  LINE OF CREDIT.  Lender hereby establishes for a period extending to June 30, 2014 (the “MATURITY DATE”) a revolving line of credit (the “Credit Line”) for Borrower in the principal amount of Five Hundred Thousand Dollars ($500,000.00) the (“Credit Limit”).”

2.2          Effect on Prior Agreements. Subject to the amendment provided herein, all of the terms and conditions of the Prior Agreements shall continue in full force and effect after the execution of this Agreement and shall not be in any way changed, modified or superseded by the terms set forth herein.  Except as expressly set forth herein, this Agreement shall not be deemed to be a waiver, amendment or modification of any provisions of the Prior Agreements or of any right, power or remedy of the Lender, or constitute a waiver of any provision of the Prior Agreements (except to the extent herein set forth), or any other document, instrument and/or agreement executed or delivered in connection therewith, in each case whether arising before or after the date hereof or as a result of performance hereunder or thereunder.  The Lender reserve all rights, remedies, powers, or privileges available under the Prior Agreements, at law or otherwise.  This Agreement shall not constitute a novation or satisfaction and accord of the Prior Agreements or any other document, instrument and/or agreement executed or delivered in connection therewith.

 

 

 

 

 

  

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3.             MISCELLANEOUS.

3.1           Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.

 

3.2           Governing Law.  This Agreement shall be governed by and construed under the laws of the State of New York without regard to the choice of law principles thereof.

3.3           Severability.  If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction.

 

3.4           Counterparts/Execution.  This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains an electronic file of an executed signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or electronic file signature page (as the case may be) were an original thereof.

 

3.5            Further Assurances

 

. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

3.6           Notices.  Any notice, demand or request required or permitted to be given by the respective parties hereto pursuant to the terms of this Agreement shall delivered in accordance with the terms of the Purchase Agreement.

 

3.7           Expenses.  The parties hereto shall pay their own costs and expenses in connection herewith.

 

3.8           Entire Agreement; Amendments.  This Agreement constitutes the entire agreement between the parties with regard to the subject matter hereof and thereof, superseding all prior agreements or understandings, whether written or oral, between or among the parties.  No amendment, modification or other change to this Agreement or waiver of any agreement or other obligation of the parties under this Agreement may be made or given unless such amendment, modification or waiver is set forth in writing and is signed by Lender and Company.  Any waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

 

3.9           Headings.  The headings used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

 

 

[Signature pages follow]

 

 

  

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IN WITNESS WHEREOF, Borrower and Lender have each caused their respective signature page to this Agreement to be duly executed as of the date first written above.

 

	
BORROWER:

 

	
ASSURED PHARMACY INC.

 

 

By:  /s/  Brett Cormier                                                           

Name:    Brett Cormier

Title:      Chief Financial Officer

 

	
LENDER:

 

	
BROCKINGTON SECURITIES INC.

 

 

 

	
By: /s/   Robert DelVecchio                                                 

Name:    Robert DelVecchio

Title:      Chief Executive Officer

 

 

 

 

 

 

 

  

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