Document:

EX-10.10

 Exhibit 10.10 

INVESTMENT AGREEMENT 

THIS INVESTMENT AGREEMENT (this “Agreement”), dated as of     , 2021, is by and among (i) Live Oak
Crestview Climate Acquisition Corp., a Delaware corporation (the “SPAC”), (ii) LOCC Sponsor, LLC, a Delaware limited liability company (the “Sponsor”), and (iii) [on behalf of certain of its affiliated investment
funds (such investment funds, collectively,] [•] (“Investor”). 
 WHEREAS, in connection with the initial public
offering (the “IPO”) of units of the SPAC, Investor has expressed an interest in acquiring up to 990,000 units in the IPO (the “IPO Indication”), at a price of $10.00 per unit. 

WHEREAS, the parties wish to enter into this Agreement pursuant to which Investor will purchase from the Sponsor shares of Class B common
stock, par value $0.0001 per share, of the SPAC (the “Founder Shares”) for the same value paid by the Sponsor, or approximately $0.003 per share (the “Per Share Price”). 

NOW THEREFORE, the parties hereto hereby agree as follows: 

Section 1. Sale and Purchase. 

(a) In connection with the IPO Indication, and subject to the satisfaction of the conditions set forth in
Section 1(b), the Sponsor hereby agrees to sell to Investor 62,500 Founder Shares (such shares, the “Transferred Shares”) for an aggregate purchase price of $217.39 (the “Transfer Price”)
on the date of the closing of the IPO, and Investor hereby agrees to purchase the Transferred Shares (the “Transfer”). Concurrently with the Transfer, in consideration for the transfer of the Transferred Shares, Investor shall pay
$217.39 to the Sponsor in immediately available funds. The Investor shall not be required to purchase more than the IPO Indication due to any upsizing, overallotment exercise or any other reason without first having the opportunity to purchase
additional Founder Shares at the Per Share Price in a manner proportional to any increase in the Investor’s IPO allocation above the IPO Indication. Sponsor shall not be required to offer any additional Founder Shares to Investor other than the
Transferred Shares and may determine to do so in its sole discretion. 
 (b) Subject to (i) the fulfillment by Investor of the IPO
Indication (which shall include the acquisition of 100% of the units of the SPAC allocated to Investor by the underwriters in the IPO, provided such amount is not greater than 4.9% of the units offered in the IPO (exclusive of any units that may be
issued pursuant to the underwriters’ over-allotment option)) and (ii) Investor’s payment of the Transfer Price as contemplated by Section 1(a) of this Agreement, the Transfer shall occur and be effective upon
the closing of the IPO, automatically and without any action of any other party hereto. 
 (c) Except as contemplated by this Agreement or
with the Investor’s prior written consent, the Transferred Shares shall not be subject to share price vesting triggers, claw-back, cut-back, reduction, mandatory repurchase, redemption or forfeiture for
any reason, including (i) transfer of the Transferred Shares to any person, (ii) downsizing of the offering, (iii) failure of the underwriters to exercise their green shoe option, (iv) concessions or “earn-out” triggers in connection with the negotiation of a Business Combination (as defined below) or 

 
otherwise, or (v) any other modification, in each case without the prior written consent of Investor; provided, for the avoidance doubt, the foregoing shall not preclude the waiver of the
anti-dilution provisions with respect to the Founder Shares in accordance with the SPAC’s certificate of incorporation as provided therein, the conversion of the Transferred Shares into Class A Common Stock in accordance with SPAC’s
certificate of incorporation or the conversion, exchange or adjustment of the Transferred Shares as a matter of law in connection with a merger or otherwise or in connection with an amendment of the SPAC’s or any successor entity’s
certificate of incorporation or comparable organizational documents. 
 (d) The obligations of Investor hereunder are subject to there being
no material change in the capital structure the SPAC from that set forth in the Registration Statement filed with SEC on March 4, 2021, as amended (the “Registration Statement”). 

Section 2. Representations and Warranties of the SPAC. The SPAC hereby represents and warrants to Investor, as follows: 

(a) The SPAC has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the
transactions contemplated hereby. 
 (b) This Agreement has been duly and validly executed and delivered by the SPAC and constitutes a legal,
valid and binding obligation of the SPAC enforceable against the SPAC in accordance with its terms. 
 (c) The execution and delivery of this
Agreement, the consummation of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other instrument to
which the SPAC is a party or by which the SPAC is bound, or any decree, order, statute, rule or regulation applicable to the SPAC. 

Section 3. Representations and Warranties of the Sponsor. The Sponsor hereby represents and warrants to Investor, as follows: 

(a) The Sponsor has full power and authority to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the
transactions contemplated hereby. 
 (b) This Agreement has been duly and validly executed and delivered by the Sponsor and constitutes a
legal, valid and binding obligation of the Sponsor enforceable against the Sponsor in accordance with its terms. 
 (c) The execution and
delivery of this Agreement, the consummation of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other
instrument to which the Sponsor is a party or by which the Sponsor is bound, or any decree, order, statute, rule or regulation applicable to the Sponsor. 

  
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 (d) Substantially concurrently with the execution of this Agreement, the Sponsor is entering
into separate agreements with other “anchor investors” in respect of the purchase of Founder Shares in connection with the IPO (the “Other Anchor Investment Agreements”). The Sponsor represents that the material terms of
such Other Anchor Investment Agreements are no more favorable to such other “anchor investors” thereunder than the terms of this Agreement. For the avoidance of doubt, if any other “anchor investor” has an ability to purchase
more Founder Shares at the Per Share Price than the Investor pursuant to any Other Anchor Investor Agreement, then such other “anchor investor” shall not be considered to have more favorable material terms than the Investor, provided that
the proportion of Founders Shares to size of IPO Indication is the same as this Agreement. In the case that another “anchor investor” is afforded any such materially more favorable terms than the Investor in any Other Anchor Investment
Agreement, the Sponsor shall immediately so inform the Investor of such materially more favorable terms, and the Investor shall have the right to elect to have such materially more favorable terms, in which case the parties hereto shall promptly
amend this Agreement to effect the same. 
 Section 4. Representations and Warranties of Investor. Investor hereby represents
and warrants to the SPAC and the Sponsor, as follows: 
 (a) Investor has full power and authority to execute and deliver this Agreement and
to perform its obligations hereunder. 
 (b) This Agreement has been duly and validly executed and delivered by Investor and constitutes a
legal, valid and binding obligation of Investor enforceable against Investor in accordance with its terms. 
 (c) The execution and delivery
of this Agreement, the consummation of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result in any material violation of or default under, any agreement or other
instrument to which Investor is a party or by which Investor is bound, or any decree, order, statute, rule or regulation applicable to Investor. 

(d) Investor is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities Act of 1933, as
amended. 
 Section 5. Additional Agreements and Acknowledgements of Investor. 

(a) Investor agrees not to transfer, assign or sell any Transferred Shares or the Class A common stock, par value $0.0001 per share (the
“Class A Common Stock”), issuable upon conversion of the Transferred Shares held by it until the earlier of (i) one year after the date the SPAC consummates a Business Combination (as defined below) or
(ii) subsequent to a Business Combination, (A) if the reported closing price of the Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the
like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the consummation of a Business Combination or (B) the date on which the SPAC completes a liquidation,
merger, capital stock exchange, reorganization or other similar transaction which results in all of the SPAC’s stockholders having the right to exchange their shares of Class 

  
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A Common Stock for cash, securities or other property (the “Lock-Up Period”). Except as otherwise agreed by Investor, the Transferred
Shares directly or indirectly owned by Investor will not be subject to additional transfer restrictions other than those detailed in this Agreement or the Registration Statement. For the avoidance of doubt, this Section 5
shall not restrict Investor from transferring, assigning, hedging, redeeming or selling any shares of Class A Common Stock, warrants or units acquired in the IPO or in the open market. 

(b) Investor acknowledges that the SPAC was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination involving the SPAC and one or more businesses (a “Business Combination”). Investor agrees that if the SPAC seeks stockholder approval of a proposed Business Combination, then
in connection with such proposed Business Combination, Investor shall vote all Founder Shares owned by Investor in favor of such proposed Business Combination. Notwithstanding anything to the contrary herein, this Section 5(b) is solely an
agreement between SPAC and the Investor and is not for the benefit of or enforceable by Sponsor. 
 (c) Investor acknowledges that it is
aware the SPAC will establish a trust account (the “Trust Account”) for the benefit of its public stockholders upon the closing of the IPO. Investor agrees that it has no right, title, interest or claim of any kind in or to any
monies held in the Trust Account, or any other asset of the SPAC as a result of any liquidation of the SPAC with respect to the Transferred Shares. 

(d) In connection with the IPO, the SPAC shall enter into a registration rights agreement (the “Registration Rights
Agreement”) with the Sponsor, Investor and certain other parties thereto, in the form currently filed as an exhibit to the Registration Statement with Investor and other anchor investors included as parties. 

Section 6. Miscellaneous. 

(a) This Agreement shall be governed by the internal laws (and not the law of conflicts) of the State of New York. 

(b) This Agreement may not be amended, modified or waived without the written consent of the parties hereto. 

(c) The rights and obligations under this Agreement may not be assigned by any party hereto without the prior written consent of the other
parties, provided that Investor may assign its rights and obligations under this Agreement to any of its affiliates that agrees to be bound by the terms of this Agreement. 

(d) From time to time, at the reasonable request of any of the other parties hereto, each party hereto shall execute and deliver such
additional documents and instruments and take such further lawful action as may be necessary to consummate and make effective, in the most expeditious manner practicable, the transactions contemplated by this Agreement. 

  
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 (e) Any term or provision of this Agreement which is invalid or unenforceable shall be
ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining rights of the person intended to be benefited by such provision or any other provisions of this Agreement. 

(f) This Agreement may be executed in two or more counterparts, each of which shall constitute an original, and all of which taken together
shall constitute one and the same instrument. Any signature page delivered by a facsimile machine or electronic mail shall be binding to the same extent as an original signature page. 

(g) This Agreement shall terminate on the earlier of (i) the expiration of the Lock-Up Period,
(ii) the liquidation of the SPAC, or (iii) written notice from the SPAC that the IPO has been abandoned, unless otherwise agreed in writing by the parties hereto. Notwithstanding the foregoing, if the IPO has not priced by October 31,
2021, this Agreement shall terminate, unless otherwise agreed in writing by the parties hereto. 
 (h) For the avoidance of doubt,
(a) this Agreement shall not cause the Investor to become a member of, or otherwise own any interest in, the Sponsor or otherwise become subject to the Sponsor’s organizational documents and (b) in no event shall the Investor have any
obligation to make any additional capital contributions or to loan the SPAC or the Sponsor any funds unless otherwise agreed to by the Investor. 

(i) Notwithstanding anything in this Agreement to the contrary, the SPAC shall have the right to publicly disclose the Investor’s
commitments, arrangements and understandings under and relating to this Agreement in its Registration Statement, including any information requested by the U.S. Securities and Exchange Commission (the “SEC”) in connection with
review of such Registration Statement, and any registration statement filed or amended on or after the date of this Agreement. For the avoidance of doubt, the SPAC shall have the right to publicly disclose the name of Investor if such disclosure is
requested by the SEC in connection with review of the Registration Statement; provided that (i) Investor shall have the right to review such disclosure for a period of one business day and propose comments to such disclosure and (ii) the
SPAC shall take into consideration any reasonable comments to such disclosure prior to publicly disclosing the name of Investor. 
 * * * * *

  
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 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

 

					
	INVESTOR:
	
	[•][, on behalf of certain of its affiliated investment funds]
		
	By:	 	  

	Name:	 	[•]
	Title:	 	[•]
	
	SPAC:
	
	LIVE OAK CRESTVIEW CLIMATE ACQUISITION CORP.
		
	By:	 	  

	Name:	 	Gary K. Wunderlich, Jr.
	Title:	 	Chief Financial Officer
		
	SPONSOR:	 	
	
	MANAGING MEMBERS:
		
		 	Live Oak Merchant Partners, LLC
			
		 	By:	 	  

		 	Name:	 	Gary Wunderlich
		 	Title:	 	Managing Member
		
		 	Crestview LOCC Investors, LLC
			
		 	By:	 	  

		 	Name:	 	Ross A. Oliver
		 	Title:	 	General Counsel

 Signature Page to Investment AgreementDocument

Exhibit 10.1

AMENDMENT NO. 1 TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT
This AMENDMENT NO. 1 TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered into as of June 4, 2021, by and among TITAN MACHINERY, INC., a Delaware corporation (“Borrower”), the Lenders party hereto and BANK OF AMERICA, N.A. a national banking association, as administrative agent for each member of the Lender Group and the Bank Product Providers (in such capacity, together with its successors and assigns in such capacity, the “Agent”).
WHEREAS, Borrower, the Lenders and Agent are parties to that certain Third Amended and Restated Credit Agreement dated as of April 3, 2020 (as amended, restated, modified or supplemented from time to time, the “Credit Agreement”);
WHEREAS, Borrower has requested that Agent and the Lenders amend the Credit Agreement as set forth herein, and Agent and the Lenders have agreed to the foregoing, on the terms and conditions set forth herein;
NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the parties hereto agree as follows:
1.Defined Terms.  Unless otherwise defined herein, capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Credit Agreement.
2.Amendments to Credit Agreement.  In reliance upon the representations and warranties of each Loan Party set forth in Section 6 below and subject to the satisfaction of the conditions to effectiveness set forth in Section 5 below, the Credit Agreement is amended as follows:
(a)The following definitions are hereby added to Section 1.1 of the Credit Agreement in alphabetical order:
“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (a) if such Benchmark is a term rate, any tenor for the Benchmark that is or may be used for determining the length of an Interest Period; or (b) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to this Agreement as of such date.
“Benchmark” means, initially, the LIBOR Rate; provided, that if a replacement of the Benchmark has occurred pursuant to Section 1.9.1, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Benchmark” shall include, as applicable, the published component used in the calculation thereof.
“Benchmark Replacement” means (a) for purposes of Section 1.9.1(a), the first alternative set forth below that can be determined by Agent: 
    (i)     the sum of (A) Term SOFR plus (B) 0.11448% (11.448 basis points) for an Available Tenor of one month, 0.26161% (26.161 basis points) for an Available Tenor 

of three months, 0.42826% (42.826 basis points) for an Available Tenor of six months, and 0.71513% (71.513 basis points) for an Available Tenor of 12 months; or
(ii)    the sum of (A) Daily Simple SOFR plus (B) 0.11448% (11.448 basis points);
provided, that if initially the LIBOR Rate is replaced with the rate contained in clause (ii) above (Daily Simple SOFR plus the applicable spread adjustment) and subsequent to such replacement, Agent determines that Term SOFR has become available and is administratively feasible for Agent in its discretion, and Agent notifies Borrower and Lenders of such availability, then from and after the beginning of the Interest Period, relevant interest payment date or payment period for interest calculated, in each case, commencing no less than 30 days after the date of such notice, the Benchmark Replacement shall be as set forth in clause (i) above; and (b) for purposes of Section 1.9.1(b), the sum of (i) the alternate benchmark rate and (ii) an adjustment (which may be a positive or negative value or zero), in each case that has been selected by Agent and Borrower  as the replacement Benchmark giving due consideration to any evolving or then-prevailing market convention, including any applicable recommendations made by a Relevant Governmental Body, for U.S. Dollar-denominated syndicated credit facilities at such time.  If the Benchmark Replacement as determined above would be less than 0% at any time, it shall be deemed to be 0% for purposes of this Agreement and the other Loan Documents.   Any Benchmark Replacement shall be applied in a manner consistent with market practice; provided, that to the extent such market practice is not administratively feasible for Agent, it shall be applied in a manner as otherwise reasonably determined by Agent.
“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of Base Rate, Business Day or Interest Period, timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, applicability and length of lookback periods, applicability of breakage provisions, and other technical, administrative or operational matters) that Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by Agent in a manner substantially consistent with market practice (or, if Agent decides that adoption of any portion of such market practice is not administratively feasible or if Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as Agent decides is reasonably necessary in connection with administration of this Agreement and the other Loan Documents).
“Benchmark Transition Event” means, with respect to any then-current Benchmark (other than the LIBOR Rate), the occurrence of a public statement or publication of information by or on behalf of the administrator of such Benchmark or a Governmental Authority with jurisdiction over such administrator announcing or stating that all Available Tenors are or will no longer be representative, or made available, or used for determining the interest rate of loans, or shall or will otherwise cease, provided, that, at the time of such statement or publication, there is no successor administrator satisfactory to Agent that 
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will continue to provide any representative tenors of such Benchmark after such specific date. 
“Credit Party” has the meaning as defined in Section 15.19.
“Daily Simple SOFR” means, with respect to any applicable determination date, the secured overnight financing rate published on such date by FRBNY, as administrator of the benchmark (or a successor administrator), on FRBNY's website (or any successor source).
“Early Opt-in Effective Date” with respect to any Early Opt-in Election, the sixth Business Day after the date notice of such Early Opt-in Election is provided to Lenders, as long as Agent has not received, by 5:00 p.m. (New York City time) on the fifth Business Day after such notice is provided to Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising Required Lenders.
“Early Opt-in Election” means, the occurrence of (a) a determination by Agent, or a notification by Borrower to Agent that Borrower has made a determination, that U.S. Dollar-denominated syndicated credit facilities currently being executed, or that include language similar to that contained in Section 1.9.1, are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace the LIBOR Rate; and (b) the joint election by Agent and Borrower to replace the LIBOR Rate with a Benchmark Replacement and the provision by Agent of written notice of such election to Lenders.
“FRBNY” means, the Federal Reserve Bank of New York.
“Other Rate Early Opt-in” means, Agent and Borrower have elected to replace the LIBOR Rate with a Benchmark Replacement other than a SOFR-based rate pursuant to (a) an Early Opt-in Election and (2) Section 1.9.1 (b) and clause (b) of the definition of Benchmark Replacement.
“Relevant Governmental Body” means, the Board of Governors of the Federal Reserve System or FRBNY, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or FRBNY, or any successor thereto.
“Rescindable Amount” has the meaning as defined in Section 2.4(a)(ii).
1“SOFR” means, the secured overnight financing rate published on such date by FRBNY.
“SOFR Early Opt-in” means, Agent and Borrower have elected to replace the LIBOR Rate pursuant to (a) an Early Opt-in Election and (b) Section 1.9.1 (a) and clause (a) of the definition of Benchmark Replacement.
“Term SOFR” means, for the applicable corresponding tenor (or if any Available Tenor of a Benchmark does not correspond to an Available Tenor for the applicable Benchmark Replacement, the closest corresponding Available Tenor and if such Available Tenor corresponds equally to two Available Tenors of such Benchmark Replacement, the corresponding tenor of the shorter duration shall be applied), the forward-looking term rate 
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based on SOFR that has been selected or recommended by the Relevant Governmental Body.
(b)     The definition of “LIBOR Rate” set forth in Section 1.1 of the Credit Agreement is hereby amended to restate in its entirety as follows: 
“LIBOR Rate” means the per annum rate of interest determined by Agent at or about 11:00 a.m. (London time) two Business Days prior to an interest period, for a term equivalent to such period, equal to the London interbank offered rate, or comparable or successor rate approved by Agent as published on the applicable Reuters screen page (or other commercially available source designated by Agent from time to time); provided, that any comparable or successor rate shall be applied by Agent, if administratively feasible, in a manner consistent with market practice; and provided further, that in no event shall the LIBOR Rate or any comparable or successor rate be less than zero percent (0%).
(c)     The definitions of “LIBOR Screen Rate”, “Scheduled Unavailability Date”, “LIBOR Successor Rate” and “LIBOR Successor Rate Conforming Changes” are hereby deleted from Section 1.1 of the Credit Agreement in its entirety:
 (d)    Section 1.9 of the Credit Agreement is hereby amended to restate in its entirety as follows:
1.9     Replacement of LIBOR Rate.  
1.9.1. Notwithstanding anything to the contrary herein or in any other Loan Document, 
(a) on March 5, 2021 the Financial Conduct Authority (“FCA”), the regulatory supervisor of LIBOR Rate’s administrator (“IBA”), announced in a public statement the future cessation or loss of representativeness of overnight/Spot Next, 1-week, 1-month, 2-month, 3-month, 6-month and 12- month LIBOR Rate tenor settings.  On the earliest of (i) the date that all Available Tenors of LIBOR Rate have permanently or indefinitely ceased to be provided by IBA or have been announced by the FCA pursuant to public statement or publication of information to be no longer representative, (ii) June 30, 2023, and (iii) the Early Opt-in Effective Date in respect of a SOFR Early Opt-in, if the then-current Benchmark is the LIBOR Rate, the Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any setting of such Benchmark on such day and all subsequent settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document. If the Benchmark Replacement is Daily Simple SOFR, all interest will be payable on a monthly basis;
(b) (i) upon (A) the occurrence of a Benchmark Transition Event or (B) a determination by Agent that neither of the alternatives under clause (a) of the definition of Benchmark Replacement are available, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5:00 p.m. on the fifth Business Day after the date notice of such Benchmark Replacement is provided to Lenders, without any amendment to, or further action or consent of any other party to, any Loan Document as long as Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising Required Lenders (and any such objection shall be conclusive 
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and binding absent manifest error); provided, that solely in the event that the then-current Benchmark at the time of such Benchmark Transition Event is not a SOFR-based rate, the Benchmark Replacement therefor shall be determined in accordance with clause (a) of the definition of Benchmark Replacement unless Agent determines that neither of such alternative rates is available;  and (ii) on the Early Opt-in Effective Date in respect of an Other Rate Early Opt-in, the Benchmark Replacement will replace the LIBOR Rate for all purposes under the Loan Documents in respect of any setting of such Benchmark on such day and all subsequent settings without any amendment to, or further action or consent of any other party to, any Loan Document; and
(c) at any time that the administrator of the then-current Benchmark has permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced by the regulatory supervisor for the administrator of such Benchmark pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored, Borrower may revoke any request for a borrowing of, conversion to or continuation of Loans to be made, converted or continued that would bear interest by reference to such Benchmark until Borrower’s receipt of notice from Agent that a Benchmark Replacement has replaced such Benchmark, and, failing that, Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans. During the period referenced in the foregoing sentence, the component of Base Rate based on the Benchmark will not be used in any determination of Base Rate.
1.9.2. Conforming Changes.  In connection with the implementation and administration of a Benchmark Replacement, Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement.
1.9.3. Notice.  Agent will promptly notify Borrower and Lenders of the implementation of any Benchmark Replacement and the effectiveness of any Benchmark Replacement Conforming Changes. Any determination, decision or election that may be made by Agent pursuant to this Section, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date, and any decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made in its discretion and without consent from any other party hereto, except, in each case, as expressly required pursuant to this Section.
1.9.4. Term Tenors.  At any time (including in connection with the implementation of a Benchmark Replacement), (a) if the then-current Benchmark is a term rate (including Term SOFR or the LIBOR Rate), Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement) settings; and (b) Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement) settings.
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(e)     Section 2.4(a)(ii) of the Credit Agreement is hereby further amended to replace clause (ii) thereof in its entirety as follows:    
2.4(a)(ii) Payments by Borrower; Presumptions by Agent.  Unless the Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Agent for the account of the Lenders or any Issuing Bank hereunder that the Borrower will not make such payment, the Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the applicable Issuing Bank, as the case may be, the amount due.
With Respect to any payment that the Agent makes for the account of the Lenders or any Issuing Bank hereunder as to which the Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable Amount”) : (1) the Borrower has not in fact made such payment; (2) the Agent has made a payment in excess of the amount so paid by the Borrower (whether or not then owed); or (3) the Agent has for any reason otherwise erroneously made such payment; then each of the Lenders or the applicable Issuing Bank, as the case may be, severally agrees to repay to the Agent forthwith on demand the Rescindable Amount so distributed to such Lender or such Issuing Bank, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Agent, at the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation.
A notice of the Agent to any Lender or the Borrower with respect to any amount owing under this clause (b) shall be conclusive, absent manifest error.
(f)    Part XV of the Credit Agreement is hereby amended by adding Section 15.19 in its entirety as follows:
15.19  Recovery of Erroneous Payments.  Without limitation of any other provision in this Agreement, if at any time the Agent makes a payment hereunder in error to any Lender or any Issuing Bank, each a (“Credit Party”), whether or not in respect of an Obligation due and owing by the Borrower at such time, where such payment is a Rescindable Amount, then in any such event, each Credit Party receiving a Rescindable Amount severally agrees to repay to the Agent forthwith on demand the Rescindable Amount received by such Credit Party  in immediately available funds in the currency so received, with interest thereon, for each day from and including the date such Rescindable Amount is received by it to but excluding the date of payment to the Agent, at the greater of the Federal Funds Rate and a rate determined by the Agent in accordance with banking industry rules on interbank compensation.  Each Credit Party irrevocably waives any and all defenses, including any “discharge for value” (under which a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a debt owed by another) or similar defense to its obligation to return any Rescindable Amount.  The Agent shall inform each Credit Party promptly upon determining that any payment made to such Credit Party comprised, in whole or in part, a Rescindable Amount.
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3.Continuing Effect.  Except as expressly set forth in Section 2 of this Amendment, nothing in this Amendment shall constitute a modification or alteration of the terms, conditions or covenants of the Credit Agreement or any other Loan Document, or a waiver of any other terms or provisions thereof, and the Credit Agreement and the other Loan Documents shall remain unchanged and shall continue in full force and effect, in each case as amended hereby.
4.Reaffirmation and Confirmation.  Each Loan Party hereby ratifies, affirms, acknowledges and agrees that the Credit Agreement and the other Loan Documents, in each case as amended, supplemented or otherwise modified by this Amendment, to which it is a party represent the valid, enforceable and collectible obligations of such Loan Party, and further acknowledges that there are no existing claims, defenses, personal or otherwise, or rights of setoff whatsoever with respect to the Credit Agreement or any other Loan Document.  Each Loan Party hereby agrees that this Amendment in no way acts as a release or relinquishment of the Liens and rights securing payments of the Obligations.  The Liens and rights securing payment of the Obligations are hereby ratified and confirmed in all respects by each Loan Party.
5.Conditions to Effectiveness.  This Amendment shall become effective upon the satisfaction of the following conditions precedent:
(a)Agent shall have received a copy of this Amendment executed and delivered by Agent, the Lenders and Borrower; and
(b)No Default or Event of Default shall have occurred and be continuing.
6.Representations and Warranties.  In order to induce Agent and the Lenders to enter into this Amendment, Borrower hereby represents and warrants to Agent and the Lenders that:
(a)All representations and warranties contained in the Loan Documents to which any Loan Party is a party are true and correct in all material respects (except 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) on and as of the date of this Amendment (except to the extent that such representations and warranties expressly relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except 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) on and as of such earlier date);
(b)No Default or Event of Default has occurred and is continuing; and
(c)This Amendment and the Loan Documents, as modified hereby, constitute legal, valid and binding obligations of such Loan Party and are enforceable against each Loan Party in accordance with their respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors' rights generally.
7.Release.  In consideration of the agreements of Agent and the Lenders contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Loan Party hereby releases and forever discharges Agent and the Lenders and their respective directors, officers, employees, agents, attorneys, affiliates, subsidiaries, successors and permitted assigns from any and all liabilities, obligations, actions, contracts, claims, causes of action, damages, demands, costs and expenses whatsoever (collectively "Claims"), of every kind and nature, 
7

however evidenced or created, whether known or unknown, arising prior to or on the date of this Amendment including, but not limited to, any Claims involving the extension of credit under or administration of this Amendment, the Credit Agreement or the Loan Documents, as each may be amended, or the obligations, liabilities and/or indebtedness incurred by Borrower or any other transactions evidenced by this Amendment, the Credit Agreement or the Loan Documents.
8.Miscellaneous.
(a)Expenses.  Each Loan Party acknowledges and agrees that Section 15.7 of the Credit Agreement applies to this Amendment and the transactions, agreements and documents contemplated hereunder.
(b)Choice of Law and Venue; Jury Trial Waiver; Reference Provision.  Without limiting the applicability of any other provision of the Credit Agreement or any other Loan Document, the terms and provisions set forth in Section 12 of the Credit Agreement are expressly incorporated herein by reference.
(c)Counterparts; Electronic Execution.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Amendment.  Delivery of an executed counterpart of this Amendment by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Amendment.  Any party delivering an executed counterpart of this Amendment by telefacsimile or other electronic method of transmission also shall deliver an original executed counterpart of this Amendment but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment.
(signature page follows)
 
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IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed by their respective officers thereunto duly authorized and delivered as of the date first above written.
BORROWER:

TITAN MACHINERY, INC.

By:    /s/ Mark Kalvoda
Name:  Mark Kalvoda
Title:      Chief Financial Officer

BANK OF AMERICA, N.A., 
as Agent and as a Lender

By:    /s/ Carlos Gil
Name:    Carlos Gil
Title:    Senior Vice President 
 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

By:    /s/ Laura Wheeland
Name:    Laura Wheeland
Title:    Vice President 

REGIONS BANK, 
as a Lender

By:    /s/ Darius Sutrinaitis
Name:    Darius Sutrinaitis
Title:    Director
 

BBVA USA,
as a Lender

By:    /s/ Brett Miller
Name:    Brett Miller
Title:    Senior Vice President
 

AGCOUNTRY FARM CREDIT SERVICES, PCA,
as a Lender

By:    /s/ Nicole Schwartz
Name:    Nicole Schwartz
Title:    Market Vice President
 

STERLING NATIONAL BANK, 
as a Lender

By:    /s/ Greg Gentry
Name:    Greg Gentry
Title:    Senior Managing Director

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