Document:

EX-10.13

  Exhibit 10.13

   

  SIXTH LOAN EXTENSION AGREEMENT

  This SIXTH LOAN EXTENSION AGREEMENT (this “Agreement”) is made as of September 8, 2022, by and among (i) EVO TRANSPORTATION & ENERGY SERVICES, INC., a Delaware corporation having its principal office at 2075 West Pinnacle Peak Rd., Suite 130, Phoenix AZ 85027 (“Borrower”), and each subsidiary of Borrower listed on the signature pages hereto or that after the date hereof delivers such a signature page (each a “Guarantor”, collectively, the “Guarantors” and, together with Borrower, the “Loan Parties” and each a “Loan Party”), (ii) ANTARA CAPITAL MASTER FUND LP and/or one or more managed funds or accounts (the “Lender”), and (iii) each lender listed on Schedule I of the Loan Agreement (as defined below) (each, an “Executive Lender” and together, the “Executive Lenders”). Capitalized terms used but not defined in this Agreement shall have the meanings given to them in the Loan Agreement.

  W I T N E S S E T H:

  WHEREAS, the Loan Parties are indebted to the Lender and the Executive Lenders pursuant to that certain Senior Secured Loan and Executive Loan Agreement dated as of March 11, 2022 (the “Original Loan Agreement”), as amended by the Loan Extension Agreement dated May 31, 2022 (the “First Loan Extension Agreement”); the Second Loan Extension Agreement dated June 30, 2022 (the “Second Loan Extension Agreement”); the Third Loan Extension Agreement dated July 8, 2022 (the “Third Loan Extension Agreement”); the Fourth Loan Extension Agreement dated July 15, 2022 (the “Fourth Loan Extension Agreement”); and the Fifth Loan Extension Agreement dated August 12, 2022 (the “Fifth Loan Extension Agreement”, and the Original Loan Agreement as amended by the First Loan Extension Agreement, the Second Loan Extension Agreement, the Third Loan Extension Agreement, the Fourth Loan Extension Agreement and the Fifth Loan Extension Agreement, the “Loan Agreement”).

  WHEREAS, the Loan Parties and the Lender wish to extend the “Maturity Date” (as defined in the Loan Agreement) of the Loan from September 15, 2022 to December 29, 2023 upon satisfaction of the terms and conditions set forth in this Agreement.

  WHEREAS, the Loan Parties and the Executive Lenders wish to extend the “Executive Loan Maturity Date” (as defined in the Loan Agreement) of the Executive Loans from September 22, 2022 to January 5, 2024 upon satisfaction of the terms and conditions set forth in this Agreement.

  WHEREAS, the parties to this Agreement (the “Parties”) desire to memorialize the aforementioned extensions as hereinafter set forth.

  NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements hereinafter set forth, the Parties hereby agree as follows:

  1.Extension of the Loan Maturity Date. Effective upon the date of this Agreement, the Loan Agreement is amended to extend the “Maturity Date” from (i) the earlier of (a) demand by 

  		 

  

   

  the Lender on any day prior to the Collateral Pledge Effective Date and (b) September 15, 2022 to (ii) December 29, 2023. 

  2.Extension of each Executive Loan Maturity Date. Effective upon the date of this Agreement, the Loan Agreement is amended to extend each “Executive Loan Maturity Date” from September 22, 2022 to January 5, 2024.

  1.Representations. The Loan Parties hereby represent and warrant to Lender and each Executive Lender as of the date hereof that each of the representations and warranties made by any Loan Party in the Original Loan Agreement have been and remain true and correct in all material respects as if remade on the date hereof, subject to changes to such representations and warranties set forth on Exhibit A attached hereto (the “Representation Updates”). None of the Representation Updates are the result of any breach of a covenant of any Loan Party under the Loan Agreement, nor do they result from or in any Event of Default. Neither the execution, delivery or performance of this Agreement nor any other agreement or instrument contemplated hereby will (a) violate any applicable law in any material respect, (b) violate the organizational documents of any Loan Party, or (c) breach, violate or result in a default, or give rise to a termination, cancellation, acceleration or other right or remedy, under any material agreement, instrument or other contractual obligation of any Loan Party.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           

  3.Full Force and Effect. Except as specifically set forth herein, all of the terms and conditions of the Loan Agreement are unmodified and remain in full force and effect.  

  4.No Novation. The Parties do not intend the terms of this Agreement to be construed as a novation of any of the obligations owing by the Loan Parties under or in connection with the Loan or the Executive Loans.  

  5.Ratification and Affirmation of Guaranties and Indemnities. By the execution hereof, each Guarantor hereby acknowledges and agrees and consents to the terms of this Agreement and that, except as expressly provided in Section 1 and Section 2 of this Agreement, nothing contained herein shall modify, affect or otherwise diminish the obligations of Guarantor under the Loan Agreement applicable to such Guarantor, and each Guarantor hereby certifies, reaffirms and ratifies its obligations under the Loan Agreement.

  6.Release of Lender Liability. TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW FROM TIME TO TIME IN EFFECT, EACH LOAN PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY (AND AFTER IT HAS CONSULTED WITH ITS OWN COUNSEL) IRREVOCABLY AND UNCONDITIONALLY AGREES THAT NO CLAIM MAY BE MADE BY SUCH LOAN PARTY AGAINST THE LENDER OR ANY OF THE LENDER’S DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, ACCOUNTANTS, AGENTS OR INSURERS, OR ANY OF ITS OR THEIR SUCCESSORS AND ASSIGNS, FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES IN RESPECT OF ANY BREACH OR WRONGFUL CONDUCT (WHETHER THE CLAIM IS BASED ON CONTRACT OR TORT OR DUTY IMPOSED BY LAW) ARISING OUT OF, OR RELATED TO, THE TRANSACTIONS CONTEMPLATED BY ANY OF THIS 

   

  

   

  AGREEMENT OR THE LOAN AGREEMENT, OR ANY ACT, OMISSION, OR EVENT OCCURRING IN CONNECTION HEREWITH OR THEREWITH. IN FURTHERANCE OF THE FOREGOING, EACH LOAN PARTY HEREBY WAIVES, RELEASES AND AGREES NOT TO SUE UPON ANY CLAIM FOR ANY SUCH DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR. 

  7.Counterparts. This Agreement may be executed in any number of counterparts (which may be electronic, including PDF) and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original and shall be binding upon all parties and their respective permitted successors and assigns, and all of which taken together shall constitute one and the same agreement.

  2.Governing Law. This Agreement shall be governed in accordance with the terms and provisions of Section 25 and Section 26 of the Original Loan Agreement, except, for purposes of this Agreement, references to “Loan Agreement” shall be deemed to refer to the Original Loan Agreement as modified by the First Loan Extension Agreement, the Second Loan Extension Agreement, the Third Loan Extension Agreement, the Fourth Loan Extension Agreement, and the Fifth Loan Extension Agreement and as further modified by this Agreement.

  [NO FURTHER TEXT ON THIS PAGE]

   

   

  

  Exhibit 10.13

  IN WITNESS WHEREOF, each Loan Party has caused this Agreement to be duly executed as of the date set forth above.

  EVO TRANSPORTATION & ENERGY SERVICES, INC., as Borrower

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  W.E. GRAHAM, INC., as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  EVO LOGISTICS, LLC, as a Guarantor 

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  TITAN CNG LLC, as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  THUNDER RIDGE TRANSPORT, INC., as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  Signature Page to Sixth Loan Extension Agreement

  

   

  SHEEHY MAIL CONTRACTORS, INC., as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  URSA MAJOR CORPORATION, as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  J.B. LEASE CORPORATION, as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  EVO EQUIPMENT LEASING, LLC, as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  COURTLANDT AND BROWN ENTERPRISES L.L.C., as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

   

  Signature Page to Sixth Loan Extension Agreement

  

   

  FINKLE TRANSPORT, INC., as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  EVO SERVICES GROUP, LLC, as a Guarantor

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Chairman of EVO Transportation & Energy Services, Inc. and Authorized Signatory	

  	 

   

  Signature Page to Sixth Loan Extension Agreement

  

   

  AGREED TO AND ACCEPTED:

  ANTARA CAPITAL MASTER FUND LP (as Lender)

  By: Antara Capital Fund GP LLC, its General Partner 

   

  By:	/s/ Himanshu Gulati	
Name:	Himanshu Gulati
Title:	Managing Partner

   

  Executive Lenders

  AGREED TO AND ACCEPTED:

   

  By:		
Name:	Thomas J. Abood	

  AGREED TO AND ACCEPTED:

   

  By:	/s/ Damon R. Cuzick	
Name:	Damon R. Cuzick

  AGREED TO AND ACCEPTED:

  BRIDGEWEST GROWTH FUND LLC

   

  By:	/s/ Billy (Trey) Peck Jr.	
Name:	Billy (Trey) Peck Jr.

  Title:	Managing Member

   

  AGREED TO AND ACCEPTED:

  BATUTA CAPITAL ADVISORS LLC 

   

  By:	/s/ Alexandre Zyngier	
Name:	Alexandre Zyngier
Title:	Managing Director

  Signature Page to Sixth Loan Extension Agreement

  

   

  EXHIBIT A

   

   

  UPDATES TO REPRESENTATIONS AND WARRANTIES

   

   

  Omitted.

  EXHIBIT CEX-10.14

   

  Exhibit 10.14

   

   

   

   

  FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT

   

  This First Amendment (“First Amendment”) to the Loan and Security Agreement by and between Clean Energy, a California corporation (“Lender”) and Thunder Ridge Transport, Inc., a Missouri corporation (“Borrower”) dated as of August 31, 2017 (the “Agreement”), is made and executed effective as of September 2, 2022 (the “First Amendment Effective Date”) by and among Lender, Borrower, EVO Transportation & Energy Services, Inc., a Delaware corporation (“EVO”), and Billy L. (Trey) Peck Jr. (“Peck”).

   

  Lender, Borrower, EVO, and Peck are, from time to time, referred to herein collectively as the “Parties”. Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Agreement, the Guaranty (as defined below), and the Consent Letter (as defined below).

   

  RECITALS

   

  WHEREAS, the Lender and Borrower entered into the Agreement on August 31, 2017;

   

  WHEREAS, on August 31, 2017, Peck as Guarantor, and Lender as Guarantied Party, entered into a Guaranty in favor of Lender of the Guarantied Obligations pursuant to the Agreement (the “Guaranty”);

   

  WHEREAS, on May 24, 2018, Borrower, EVO, Peck, and Lender executed a Consent Letter (the “Consent Letter”) whereby (i) Lender consented to a Transaction documented in a Purchase Agreement by and among Borrower, EVO, and Peck pursuant to which EVO acquired 100% of the equity interests of Borrower, and (ii) EVO agreed to guaranty the Guarantied Obligations of Borrower under the Agreement following consummation of the Transaction; and

   

  WHEREAS, the Parties wish to amend the Agreement on the terms and conditions set forth herein.

   

  NOW, THEREFORE, in consideration of the mutual covenants and obligations of the Parties herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

   

  AMENDMENT

   

  1.Amendment to Section 2.1.1 – Fuel Discount Advance. Section 2.1.1. of the Agreement is hereby amended by adding the following provision:

   

  “Borrower and Lender agree that the aggregate amount due to Lender under the Agreement as of the date hereof is $1,290,663.91.  Borrower shall make payments to Lender, without interest, in accordance with the amounts and dates in the payment schedule set forth below:

   

  •A payment of $150,000 by September 30, 2022;

   

  

   

  •A total of $450,000, composed of six separated payments of $75,000 each by each of the following dates:

  o $75,000 by September 30, 2022;

  o $75,000 by October 31, 2022;

  o $75,000 by November 30, 2022;

  o $75,000 by December 31, 2022;

  o $75,000 by January 31, 2023; and

  o $75,000 by February 28, 2023;

  •An end-of-year balloon payment of $300,000 by December 31, 2022; and

  •A final balloon payment of $390,663.91 by March 31, 2023.

   

  Any cash payments received following the date of this First Amendment by EVO, Borrower, or any of their subsidiaries or affiliates from the United States Postal Service (the “USPS”) (such cash proceeds, the “DRO Proceeds”) in connection with the final and complete resolution or settlement of EVO’s claim for reimbursement with respect to services provided by EVO or its affiliates under certain USPS “Dynamic Route Optimization” contracts for the period from May 1, 2021 through May 31, 2022 shall be applied in full towards satisfaction of the payment amounts set forth above; provided, however, that Lender shall not be entitled to receive any portion of the DRO Proceeds until EVO has received DRO Proceeds in an amount equal to at least $3,200,000 with respect to over-advances provided to EVO by Advance Business Capital LLC d/b/a Triumph Business Capital. Notwithstanding the payment schedule set forth above, and subject to the proviso in the immediately preceding sentence, any such payment shall be made to Lender promptly and in full following receipt of the DRO Proceeds from USPS.”

   

  2.Amendment to Section 2.1.1(b)(ii) – Definition of Extended Maturity Date. The term “Extended Maturity Date” is hereby defined as March 31, 2023.

   

  3.Due Diligence. The Parties agree that, immediately following the First Amendment Effective Date, Lender will be granted access to property, equipment, documents, and other items as may be conducive to Lender’s reasonable, good faith efforts to conduct due diligence and valuation assessments on EVO’s and/or Borrower’s compressed natural gas stations.

   

  4.Terms and Conditions of the Agreement. Other than as expressly set forth in this First Amendment, all of the terms and conditions of the Agreement shall remain in full force and effect and shall apply to this First Amendment; provided that to the extent there is a conflict between the terms of this First Amendment and the terms of the Agreement, the terms of this First Amendment shall control to the extent of such conflict.

   

  5.Counterparts. This First Amendment may be executed in two or more counterparts, each of which shall constitute an original, but all of which when taken together shall constitute but one and the same Agreement. Signatures to this First Amendment transmitted by facsimile, email, portable document format (or .pdf) or by any other electronic means intended to preserve the original graphic and pictorial appearance of this First Amendment shall have the same effect as the physical delivery of the paper document bearing original signature.

   

  6.Electronic Signatures. Each Party agrees that this First Amendment and any other documents to be delivered in connection herewith may be electronically signed, and that any electronic signatures appearing on this First Amendment or such other documents are the same as handwritten signatures for all purposes.

   

   

  2

   

  

   

  7.No Other Amendment. Except as expressly amended hereby, the terms and provisions of the Agreement remain in full force and effect, and are ratified and confirmed by the Parties in all respects as of the First Amendment Effective Date.

   

  [Signature Page Follows]

   

   

  3

   

  

   

  Exhibit 10.14

   

  IN WITNESS WHEREOF, the Parties have caused this First Amendment to be signed as of the First Amendment Effective Date.

   

   

   

  		
	CLEAN ENERGY
	EVO TRANSPORTATION & ENERGY SERVICES

	By:	/s/ Chad Lindholm
	By:	/s/ Thomas J. Abood

	Name: Chad Lindholm
	Name: Thomas J. Abood

	Title:	Senior Vice President
	Title:	Chief Executive Officer

   

   

  		
	THUNDER RIDGE TRANSPORT, INC.
	BILLY L. (TREY) PECK JR.

	 
By:	/s/ Thomas J. Abood
	 
By:	/s/ Billy L. (Trey) Peck Jr.

	Name: Thomas J. Abood
	Name: 

	Title:	Chief Executive Officer
	Title:

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