Document:

ex10_3.htm

Exhibit 10.3

 

TUTOR PERINI CORPORATION

FIRST AMENDMENT AND WAIVER

THIS FIRST AMENDMENT AND WAIVER (this “Amendment”) is entered into as of August 2, 2012 by and among TUTOR PERINI CORPORATION, a Massachusetts corporation f/k/a Perini Corporation (“Borrower”), with its chief executive office at 15901 Olden Street, Sylmar, California 91342, the Guarantors party hereto, BANK OF AMERICA, N.A., as Administrative Agent (“Agent”), and the Required Lenders under the Credit Agreement, as defined below.  Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement, as defined below.

R E C I T A L S

WHEREAS, Borrower, Guarantors, Agent and the Lenders have previously entered into a Fifth Amended and Restated Credit Agreement dated as of August 3, 2011 (the “Credit Agreement”);

WHEREAS, Borrower has requested that the Required Lenders waive any Events of Default that may result solely from the Borrower’s potential failure to comply with Section 8.11(a) (Minimum Consolidated Net Worth), Section 8.11(b) (Maximum Consolidated Leverage Ratio and Section 8.11(c) (Minimum Fixed Charge Coverage Ratio) of the Credit Agreement (the “Covenant Defaults”), each as in effect immediately prior to the date of this Amendment, for the fiscal quarter ending June 30, 2012 (the “Fiscal Period”), and the Required Lenders have agreed to grant such waiver and make certain other modifications to the Credit Agreement on the terms and conditions set forth herein;

NOW THEREFORE, in consideration of the foregoing premises and the mutual benefits to be derived by Borrower, Guarantors, Agent and the Lenders from a continuing relationship under the Credit Agreement and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

A.           Amendments to Credit Agreement.  As of the First Amendment Effective Date, the Credit Agreement is hereby amended as follows:

1.           The following defined terms appearing in Section 1.01 of the Credit Agreement are hereby amended in their entirety to read as follows:

“Applicable Rate” means, the following percentages per annum, in each case (other than as set forth in the last sentence of this paragraph) based upon the Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 7.02(b), for the Revolver Commitment Fee, the fee for Letters of Credit, the Revolving Loans, the Swing Line Loans and the Term Loan,

  

  

  

	
Pricing

Tier

	
Consolidated

Leverage

Ratio

	
Revolving

Commitment

Fee

	
Letters of

Credit

	
Eurodollar

Rate Loans

	
Base Rate

Loans/Swing Line

Loans

	
I

	
≤ 0.1.0

	
0.375%

	
2.00%

	
2.00%

	
1.00%

	
II

	
≤1.5 and >1.0

	
0.375%

	
2.25%

	
2.25%

	
1.25%

	
III

	
≤2.0 and >1.5

	
0.400%

	
2.50%

	
2.50%

	
1.50%

	
IV

	
≤2.5 and >2.0

	
0.400%

	
2.75%

	
2.75%

	
1.75%

	
V

	
≤3.0 and >2.5

	
0.500%

	
3.00%

	
3.00%

	
2.00%

	
VI

	
≤3.5 and >3.0

	
0.600%

	
3.50%

	
3.50%

	
2.50%

	
VII

	
>3.5

	
0.700%

	
4.00%

	
4.00%

	
3.00%

Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 7.02(b); provided however, that if a Compliance Certificate is not delivered when due in accordance with Section 7.02(b), then, upon the request of the Required Lenders, the highest Pricing Tier (Tier VII) shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered until such time as a Compliance Certificate is properly delivered pursuant to Section 7.02(b).  The Applicable Rate in effect from the First Amendment Effective Date through the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 7.02(b) for the fiscal quarter ending December 31, 2012 shall be determined based upon Tier VII.

“Consolidated EBITDA” means for any period, for Borrower and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period, plus (a) to the extent deducted in calculating Consolidated Net Income, the sum of (i) Consolidated Interest Charges for such period, (ii) the provision for federal, state, local and foreign income taxes payable for such period, (iii) the amount of depreciation and amortization expense for such period and (iv) the amount of all non-cash stock compensation incurred during such period, including any non-cash expenses arising from stock options, stock grants or other equity-incentive programs, the granting of stock appreciation rights and similar arrangements, plus (b) for the fiscal quarters ending June 30, 2012, September 30, 2012, December 31, 2012 and March 31, 2013, to the extent deducted in calculating Consolidated Net Income, the amount of any goodwill and intangible assets impairment charge not to exceed $450,000,000 in the aggregate plus , without duplicating clause (b), (c) for all fiscal quarters thereafter, the lesser of (i) to the extent deducted in calculating Consolidated Net Income, the amount of any non-cash goodwill and intangible assets impairment charge taken during such period, and (ii) Pro Forma Consolidated Net Income for such four fiscal quarter period, and minus (d) to the extent included in calculating Consolidated Net Income, all non-cash gains recognized during such period, other than the accrual of revenue in the ordinary course of business.

  

  

  

 

“Letter of Credit Sublimit” means with respect to all Letters of Credit, an amount equal to the lesser of (i) the Aggregate Revolving Commitments and (ii) the Dollar Equivalent of $150,000,000.  The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.

2.           Section 1.01 of the Credit Agreement is hereby further amended to add the following new defined terms:

“Borrower Liquidity” means, as of any date of determination, the sum of availability under the Revolving Credit Facility on such date plus the amount of unrestricted cash held by Borrower and its Subsidiaries on such date plus fifty percent (50%) of the unrestricted cash held by any Joint Venture as of the last day of the immediately preceding fiscal quarter.

 

“Consolidated Senior Leverage Ratio” means, as of any date of determination, the ratio of (a) (i) Consolidated Funded Indebtedness as of such date minus (ii) Indebtedness (x) outstanding under the Senior Notes, (y) permitted under Section 8.03(o) or (c) otherwise subordinated to Indebtedness under the Loan Documents pursuant to a written subordination agreement to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended for which Borrower has delivered financial statements pursuant to Section 7.01(a) or (b) .

“First Amendment Effective Date” means the date specified in the First Amendment dated as of August 2, 2012.

3.           Section 8.02(d)(vi) of the Credit Agreement is hereby amended in its entirety to read as follows:

(vi) at least (5) Business Days prior to the consummation of any such Acquisition, Borrower shall have delivered to the Administrative Agent a Pro Forma Compliance Certificate demonstrating that, upon giving effect to such Acquisition, the Loan Parties would be in compliance with the financial covenants set forth in Section 8.11 on a Pro Forma Basis and reflecting a Consolidated Leverage Ratio on a Pro Forma Basis no greater than 2.00:1.00.

4.           Section 8.06 of the Credit Agreement is hereby amended in its entirety to read as follows:

	
  

	
8.06

	
Restricted Payments.

Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that:

(a)           each Subsidiary may make Restricted Payments to any Loan Party and any other Person that owns an Equity Interest in such Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made;

  

  

  

 

(b)           Borrower may make cash payments in the ordinary course of business in full or partial settlement of employee stock options or in full or partial settlement of similar incentive compensation arrangements providing employees options, warrants or other rights to acquire shares of Borrower’s capital stock to employees, up to an aggregate amount not to exceed $7,500,000 during any period of twelve consecutive calendar months but only if and to the extent that, before and after giving effect to such cash payment no Default shall have occurred and be continuing; and

(c)           other Restricted Payments, but only if and to the extent that, before and after giving effect thereto:  (i) no Default shall have occurred and be continuing; and (ii) the Board of Directors of Borrower shall have determined that it is proper or prudent to pay amounts thereon based on a belief that Borrower’s working capital is sufficient to warrant the payment thereof;

provided that, at least (5) Business Days prior to the consummation of any such Restricted Payment set forth in (c) above, Borrower shall have delivered to the Administrative Agent a Pro Forma Compliance Certificate demonstrating that, upon giving effect to such Restricted Payment, the Loan Parties would be in compliance with the financial covenants set forth in Section 8.11 on a Pro Forma Basis and reflecting a Consolidated Leverage Ratio on a Pro Forma Basis no greater than 2.00:1.00.

5.           Section 8.11 of the Credit Agreement is hereby amended in its entirety to read as follows:

	
  

	
8.11

	
Financial Covenants.

(a)           Consolidated Net Worth.  Commencing with the fiscal quarter ending September 30, 2012 and at any time thereafter, permit Consolidated Net Worth to be less than an amount equal to the sum of (i) 85% of ((a) the Consolidated Net Worth as of March 31, 2012 less (b) the actual goodwill and intangible assets impairment charge taken on or before September 30, 2012 not to exceed $450,000,000), (ii) an amount equal to 50% of the aggregate amount of Consolidated Net Income for each fiscal quarter ending after June 30, 2012 (with no deduction for net losses), and (iii) an amount equal to 100% of the aggregate amount of all Equity Issuances after June 30, 2012 that increase consolidated shareholders’ equity.

  

  

  

 

(b)           Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio as of the end of any fiscal quarter of Borrower commencing with the fiscal quarter ending September 30, 2012 to be greater than the ratio set forth below for the fiscal quarters ending during the period indicated:

	
Quarter Ending

	
Maximum Ratio

	
September 30, 2012 – March 31, 2013

	
4.25:1.0

	
June 30, 2013 – December 31, 2013

	
3.75:1.0

	
March 31, 2014 – September 30, 2014

	
3.25:1.0

	
December 31, 2014 and thereafter

	
2.75:1.0

(c)           Consolidated Fixed Charge Coverage Ratio.  Permit the Consolidated Fixed Charge Coverage as of the end of any fiscal quarter of Borrower commencing with the fiscal quarter ending September 30, 2012 to be less than the ratio set forth below for the fiscal quarters ending during the period indicated:

	
Quarter Ending

	
Minimum Ratio

	
September 30, 2012 – December 31, 2012

	
1.00:1.0

	
March 31, 2013 – June 30, 2013

	
1.10:1.0

	
September 30, 2013 and thereafter

	
1.25:1.0

(d)           Minimum Liquidity.  Permit, at any time, Borrower Liquidity to be less than $100,000,000.

(e)           Consolidated Senior Leverage Ratio.  Permit the Consolidated Senior Leverage Ratio as of the end of any fiscal quarter of Borrower commencing with the fiscal quarter ending September 30, 2012 to be greater than the ratio set forth below for the fiscal quarters ending during the period indicated:

	
Quarter Ending

	
Minimum Ratio

	
September 30, 2012 – June 30, 2013

	
2.75:1.0

	
September 30, 2013 – June 30, 2014

	
2.50:1.0

	
September 30, 2014 and thereafter

	
2.00:1.0

B.           Representations and Warranties.  Each Loan Party represents and warrants to Agent and the Lenders that: (a) such Loan Party has the full power and authority to execute, deliver and perform its respective obligations under the Credit Agreement, as amended by this Amendment, (b) the execution and delivery of this Amendment has been duly authorized by all necessary action of the Board of Directors (or equivalent) of such Loan Party; (c) after giving effect to this Amendment, the representations and warranties contained or referred to in Article VI of the Credit Agreement are true and accurate in all material respects as if such representations and warranties were being made as of the First Amendment Effective Date except to the extent that such representations and warranties specifically refer to an earlier date; and (d) after giving effect to the amendments to the Credit Agreement set forth herein, no Default or Event of Default has occurred and is continuing.

  

  

  

 

C.           Waiver.  In reliance upon the representations of the Borrower to the Agent and the Lenders that no Default or Event of Default exists under the Credit Agreement other than the Covenant Defaults, the Required Lenders hereby waive the Covenant Defaults for the Fiscal Period.  This waiver is limited to the Covenant Defaults for the Fiscal Period only and is not, nor shall it be construed as, a waiver of any other Default or Event of Default under the Credit Agreement, now existing or hereafter occurring, nor shall anything herein or the Lenders’ actions hereunder be construed so as to imply that the Required Lenders have agreed, or are obligated, to grant any future waivers under the Credit Agreement.  Except as expressly provided herein, nothing in this Amendment shall be construed to be an amendment of any provision of the Credit Agreement, and all of the provisions of the Credit Agreement not expressly amended hereby shall remain in full force.

	
  

	
D.

	
Other.

1.           The provisions set forth in Section A of this Amendment shall be effective as of the date (the “First Amendment Effective Date”) the Agent receives:

	
  

	
(i)

	
this Amendment duly executed and delivered by Agent, the Required Lenders, and the Loan Parties;

	
  

	
(ii)

	
certification from the secretary or assistant secretary of each Loan Party that the resolutions and Organization Documents such Loan Party previously delivered in connection with the Credit Agreement remain true and correct as of the First Amendment Effective Date, or attaching a copy of any amended Organization Document as in effect on the First Amendment Effective Date, together with good standing certificates for each of the Loan Parties (unless the Administrative Agent has waived the requirement for delivery of or extended the required delivery date for any good standing certificates);

	
  

	
(iii)

	
all documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the USA Patriot Act;

	
  

	
(iv)

	
such other financial information as may be reasonably requested by Arranger or the Agent; and

	
  

	
(v)

	
all accrued fees, costs and expenses (including, without limitation, the reasonable costs and expenses of Agent’s counsel) incurred by Arranger, Agent and Lenders in connection with this Amendment and invoiced to Borrower.

  

  

  

 

2.           This Amendment is executed as an instrument under seal and shall be governed by and construed in accordance with the laws of The Commonwealth of Massachusetts without regard to its conflicts of law rules.  All parts of the Credit Agreement and any other Loan Document not affected by this Amendment are hereby ratified and affirmed in all respects, provided that if any provision of the Credit Agreement shall conflict or be inconsistent with this Amendment, the terms of this Amendment shall supersede and prevail.  Upon the execution of this Amendment, all references to the Credit Agreement in that document, or in any other Loan Document, shall mean the Credit Agreement as amended by this Amendment.  Except as expressly provided in this Amendment, the execution and delivery of this Amendment does not and will not amend, modify or supplement any provision of, or constitute a consent to or a waiver of any noncompliance with the provisions of the Credit Agreement, and, except as specifically provided in this Amendment, the Credit Agreement shall remain in full force and effect.  This Amendment may be executed in one or more counterparts with the same effect as if the signatures hereto and thereto were upon the same instrument.

[SIGNATURE PAGES FOLLOW]

  

  

  

 

IN WITNESS WHEREOF, each of Borrower, Guarantors, Agent and the Lenders in accordance with Section 11.01 of the Credit Agreement, has caused this Amendment to be executed and delivered by their respective duly authorized officers as of the date first written above.

 

	 	 	
BORROWER:

	 
	 	 	 	 	 	 
	WITNESS:	 	TUTOR PERINI CORPORATION, f/k/a 

Perini Corporation, a Massachusetts corporation

	 
	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	
/s/ William B. Sparks

	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	
William B. Sparks

	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Executive Vice President, Treasurer, Corporate Secretary and Clerk	 

 

	WITNESS:	 	

GUARANTORS:

	 
	 	 	 	 	 	 
	 	 	 	
AIRTECH SYSTEMS INC., a Delaware corporation

	 
	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	
William B. Sparks

	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	
ANDERSON COMPANIES, INC., a Delaware corporation

	 
	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	
BECHO, INC., a Utah corporation

	 
	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	
BLACK CONSTRUCTION INVESTMENTS, INC., a Nevada corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Treasurer and Secretary

	 

 

	WITNESS:	 	

BOW EQUIPMENT LEASING COMPANY, INC., a New Hampshire corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Treasurer, Secretary and Clerk

	 

 

	WITNESS:	 	

BRICE BUILDING COMPANY, LLC, a Delaware limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	

CHERRY HILL CONSTRUCTION, INC., a Maryland corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

DANIEL J. KEATING CONSTRUCTION COMPANY, LLC,

a Delaware limited liability company

	 	 	 	 	 	 
	 	/s/ Lisa Melonas	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

DESERT MECHANICAL, INC., f/k/a Desert Plumbing &

Heating Co., Inc., a Nevada corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

E.E. BLACK, LIMITED, a Hawaii corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Treasurer and Secretary

	 

 

	WITNESS:	 	

FISK ACQUISITION, INC., a Delaware corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Executive Vice President, Treasurer and Secretary

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

FISK ELECTRIC COMPANY, a Texas corporation

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Senior Vice President, Treasurer and Secretary

	 

 

	WITNESS:	 	

FISK INTERNATIONAL, LTD., a Delaware corporation

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Executive Vice President, Treasurer and Secretary

	 

 

	WITNESS:	 	

FIVE STAR ELECTRIC CORP, a New York corporation

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Meloncas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	

FK MANAGEMENT SERVICES, INC., an Indiana corporation

	 	                   	 	 	 	 
	 	

/s/ Debra J. Riger

	 	
By: 

	
/s/ Charles T. McGlothlen

	 
	 	 	 	 	 	 
	 	

Debra J. Riger

	 	Name:	
Charles T. McGlothlen

	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary, Treasurer and Chief Financial Officer

	 

 

	WITNESS:	 	

FKC, LLC, an Indiana limited liability company

	 	 	 	 	 	 
	 	

/s/ Debra J. Riger

	 	
By: 

	
/s/ Charles T. McGlothlen

	 
	 	 	 	 	 	 
	 	
Debra J. Riger

	 	Name:	
Charles T. McGlothlen

	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary, Treasurer and Chief Financial Officer

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

FRONTIER-KEMPER CONSTRUCTORS, INC., an Indiana corporation

	 	 	 	 	 	 
	 	

 
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	

 
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President and Secretary-Treasurer

	 

 

	WITNESS:	 	

G.W. MURPHY CONSTRUCTION COMPANY, INC., a Hawaii corporation

	 	 	 	 	 	 
	 	

 
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	

 
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

GREENSTAR SERVICES CORPORATION, a Delaware corporatio

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	

HARRELL CONTRACTING GROUP, LLC, a Mississippi limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

INTERNATIONAL CONSTRUCTION MANAGEMENT SERVICES, INC., a Delaware corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

JAMES A. CUMMINGS, INC., a Florida corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

JOHNSON WESTERN CONSTRUCTORS, INC., a California corporation

	 	 	 	 	 	 
	 	/s/ Lisa Melonas	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

JOHNSON WESTERN GUNITE COMPANY, a California corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

KEATING PROJECT DEVELOPMENT, INC., a Pennsylvania corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

LUNDA CONSTRUCTION COMPANY, a Wisconsin

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	

Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	

NAGELBUSH MECHANICAL, INC., a Florida corporation

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	

PARAMOUNT DEVELOPMENT ASSOCIATES, INC., a Massachusetts corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

PERCON CONSTRUCTORS, INC., a Delaware corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

PERINI ENVIRONMENTAL SERVICES, INC., a Delaware corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

PERINI LAND AND DEVELOPMENT COMPANY, INC., a Massachusetts corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

PERINI MANAGEMENT SERVICES, INC., a Massachusetts corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

PERLAND CONSTRUCTION, INC., a West Virginia corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

R.E. DAILEY AND CO., a Michigan corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

RA PROPERTIES, LLC,  a Mississippi limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

	WITNESS:	 	

ROY ANDERSON CORP,  a Mississippi corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Secretary and Treasurer

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

RUDOLPH AND SLETTEN, INC., a California corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Treasurer, Secretary and Clerk	 

 

	WITNESS:	 	

SUPERIOR GUNITE,  a California corporation

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

SUPERIOR GUNITE LLC,  a Delaware limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

TPC AGGREGATES, LLC, a Nevada limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Chief Financial Officer and Assistant Secretary

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

TUTOR HOLDINGS, LLC, a Delaware limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

TUTOR MICRONESIA CONSTRUCTION, LLC,

 a Delaware limited liability company

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

TUTOR PACIFIC CONSTRUCTION, LLC,

  a Delaware limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

TUTOR PACIFIC, INC., a Hawaii corporation

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Vice President, Secretary and Treasurer

	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

TUTOR PERINI BUILDING COMPANY, INC., an Arizona corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Treasurer, Secretary and Clerk

	 

 

	WITNESS:	 	

TUTOR PERINI MERGER COMPANY, a Delaware corporation

	 	 	 	 	 	 
	 	

/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	
Executive Vice President, Secretary and Treasurer

	 

 

	WITNESS:	 	

TUTOR-SALIBA CORPORATION, a California corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Senior Vice President, Chief Financial Officer, Secretary and Treasurer	 

 

	WITNESS:	 	

TUTOR-SALIBA LLC, a California limited liability company

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Senior Vice President, Chief Financial Officer, Secretary and Treasurer	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

VALLEY CONCRETE & FRAMING, INC., a California corporation

	 	 	 	 	 	 
	 	 /s/ Lisa Melonas	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Vice President, Secretary and Treasurer	 

 

	WITNESS:	 	

WDF INC., a New York corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	
Lisa Melonas

	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Secretary and Treasurer	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	WITNESS:	 	

WDF/NAGELBUSH HOLDING CORP., a Delaware corporation

	 	 	 	 	 	 
	 	
/s/ Lisa Melonas

	 	
By: 

	/s/ William B. Sparks	 
	 	 	 	 	 	 
	 	Lisa Melonas	 	Name:	William B. Sparks	 
	 	 	Print Name	 	 	 	 
	 	 	 	Title:	Secretary and Treasurer	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	ADMINISTRATIVE AGENT:
	 	 	 
	 	 	

BANK OF AMERICA, N.A., as Administrative Agent

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Tiffany Shin	 
	 	 	 	 	 
	 	 	Name:	Tiffany Shin	 
	 	 	 	 	 
	 	 	Title:	Assistant Vice President	 

 

	 	 	

BANK OF AMERICA, N.A., as a Lender, Swing Line Lender and LC Issuer

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Adam Feit	 
	 	 	 	 	 
	 	 	Name:	Adam Feit	 
	 	 	 	 	 
	 	 	Title:	Senior Vice President	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

DEUTSCHE BANK AG NEW YORK

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Mary Kay Coyle	 
	 	 	 	 	 
	 	 	Name:	Mary Kay Coyle	 
	 	 	 	 	 
	 	 	Title:	Managing Director	 

 

	
 

	 	
By: 

	/s/ Omayra Laucella	 
	 	 	 	 	 
	 	 	Name:	Omayra Laucella	 
	 	 	 	 	 
	 	 	Title:	Director	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

SOVEREIGN BANK

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Gregory M. Batsevitsky	 
	 	 	 	 	 
	 	 	Name:	Gregory M. Batsevitsky	 
	 	 	 	 	 
	 	 	Title:	Senior Vice President	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

COMERICA BANK

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Eric Choudhury	 
	 	 	 	 	 
	 	 	Name:	Eric Choudhury	 
	 	 	 	 	 
	 	 	Title:	Vice President	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

UNION BANK, N.A.

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Derek X. Jasso	 
	 	 	 	 	 
	 	 	Name:	Derek X. Jasso	 
	 	 	 	 	 
	 	 	Title:	Vice President	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

COMPASS BANK

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Erik Velastegvi	 
	 	 	 	 	 
	 	 	Name:	Erik Velastegvi	 
	 	 	 	 	 
	 	 	Title:	SVP	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

BMO HARRIS FINANCING INC.

	 	 	 	 	 
	
 

	 	
By: 

	/s/ John Armstrong	 
	 	 	 	 	 
	 	 	Name:	John Armstrong	 
	 	 	 	 	 
	 	 	Title:	Director	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

GOLDMAN SACHS BANK USA

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Michelle Lalzoni	 
	 	 	 	 	 
	 	 	Name:	Michelle Lalzoni	 
	 	 	 	 	 
	 	 	Title:	Authorized Signatory	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

U.S. BANK NATIONAL ASSOCIATION

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Conan Schleicher	 
	 	 	 	 	 
	 	 	Name:	Conan Schleicher	 
	 	 	 	 	 
	 	 	Title:	V.P.	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

HSBC BANK USA, NATIONAL ASSOCIATION

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Steven F. Larsen	 
	 	 	 	 	 
	 	 	Name:	Steven F. Larsen	 
	 	 	 	 	 
	 	 	Title:	Vice President	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

EAST WEST BANK

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Abe Kochi	 
	 	 	 	 	 
	 	 	Name:	Abe Kochi	 
	 	 	 	 	 
	 	 	Title:	FVP	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

FIRST HAWAIIAN BANK

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Susan Takeda	 
	 	 	 	 	 
	 	 	Name:	Susan Takeda	 
	 	 	 	 	 
	 	 	Title:	Vice President	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

MANUFACTURERS BANK

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Dirk Price	 
	 	 	 	 	 
	 	 	Name:	Dirk Price	 
	 	 	 	 	 
	 	 	Title:	Vice President	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

KINGSLAND II LTD.

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Katherine Kim	 
	 	 	 	 	 
	 	 	Name:	Katherine Kim	 
	 	 	 	 	 
	 	 	Title:	Authorized Signatory	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

KINGSLAND III LTD.

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Katherine Kim	 
	 	 	 	 	 
	 	 	Name:	Katherine Kim	 
	 	 	 	 	 
	 	 	Title:	Authorized Signatory	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

KINGSLAND IV LTD.

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Katherine Kim	 
	 	 	 	 	 
	 	 	Name:	Katherine Kim	 
	 	 	 	 	 
	 	 	Title:	Authorized Signatory	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]

 

  

  

  

 

	 	 	

KINGSLAND V LTD.

	 	 	 	 	 
	
 

	 	
By: 

	/s/ Katherine Kim	 
	 	 	 	 	 
	 	 	Name:	Katherine Kim	 
	 	 	 	 	 
	 	 	Title:	Authorized Signatory	 

 

[Signature Page to Tutor Perini First Amendment and Waiver]ex4_1.htm

EXHIBIT 4.1

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

THIS THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT, dated as of August 6, 2012 (this "Amendment"), is among Modine Manufacturing Company, a Wisconsin corporation, any Foreign Subsidiary Borrowers, the Lenders party hereto and JPMorgan Chase Bank, N.A., a national banking association, as Swing Line Lender, as LC Issuer and as Agent.

RECITAL

The Borrower, the Lenders party thereto and the Agent are parties to an Amended and Restated Credit Agreement dated as of August 12, 2010 (as amended or modified from time to time, the "Credit Agreement").  The Borrower desires to amend the Credit Agreement and the Agent and the Lenders are willing to do so in accordance with the terms hereof.

TERMS

In consideration of the premises and of the mutual agreements herein contained, the parties agree as follows:

ARTICLE 1.

AMENDMENTS

The Credit Agreement shall be amended as follows:

1.1           Section 6.5(a) of the Credit Agreement is amended by replacing the period at the end thereof with “; and” and adding the following new paragraph to the end thereof:

(x)            Investments in Foreign Subsidiaries organized under the laws of the People’s Republic of China (“PRC”) solely to the extent required under any guaranty permitted under Section 6.16(j) hereof as may be necessary to ensure that the difference between (a) such Subsidiary's registered capital and (b) the total investment in such Subsidiary that is approved by the government of the PRC, as stated in the applicable Approval Certificate for Establishment of Enterprises with Foreign Investment in the PRC, is sufficient to cover all sums that the beneficiary of such guaranty is demanding or could demand under such guaranty if such Subsidiary were in default under any of the guaranteed obligations; provided that concurrently with, or from the proceeds of, such Investment, the Borrower shall cause such Subsidiary to repay in full such guaranteed obligations.

1.2           Section 6.16 of the Credit Agreement is amended by adding the following new paragraphs to the end thereof:

(i)             Indebtedness consisting of Rate Management Obligations permitted under Section 6.5(a)(iv) hereof and Indebtedness arising in connection with Banking Services Obligations.

 

  

1

  

(j)             Indebtedness, in addition to other Indebtedness permitted pursuant to other subsections of this Section 6.16, consisting of Contingent Obligations of the Borrower with respect to Indebtedness of its Subsidiaries permitted under the above clauses (g), (h) or (i) of this Section 6.16, provided that (1) no Default or Unmatured Default shall exist at the time of, or would be caused by, the incurrence of any such Contingent Obligations and (2) the aggregate maximum amount of such Contingent Obligations with respect to Indebtedness of its Subsidiaries permitted under the above clauses (g) or (h) of this Section 6.16 at any time outstanding (based on the maximum amount of such Contingent Obligations, net of any cash collateral or letter of credit provided with respect to such Contingent Obligations or the related Indebtedness) shall not exceed $40,000,000.

 

1.3           The first sentence of Section 5.9 of the Credit Agreement is amended to read as follows: “Schedule 5.9 contains an accurate list of all Subsidiaries of the Borrower as of August 6, 2012, setting forth their respective jurisdictions and forms of organization and the percentage of their respective capital stock or other ownership interests owned by the Borrower or other Subsidiaries.”

1.4           Schedule 5.9 to the Credit Agreement is replaced with Schedule 5.9 attached hereto.

ARTICLE 2.

REPRESENTATIONS

The Borrower represents and warrants to the Agent and the Lenders that:

2.1           The execution, delivery and performance of this Amendment are within its powers, have been duly authorized by the Borrower and are not in contravention of any requirement of law.  This Amendment is the legal, valid and binding obligation of the Borrower, enforceable against it in accordance with the terms thereof, except to the extent the enforcement thereof may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors' rights generally.

2.2           After giving effect to the amendments herein contained, the representations and warranties contained in the Credit Agreement and the representations and warranties contained in the other Loan Documents are true on and as of the date hereof with the same force and effect as if made on and as of the date hereof, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct on and as of such earlier date, and no Default or Unmatured Default exists or has occurred and is continuing on the date hereof.

2.3           A complete and correct copy of the amendment to the Senior Note Purchase Agreement is attached hereto as Schedule 2.3, and such amendment is being executed simultaneously herewith and will be effective on the date hereof.

ARTICLE 3.

CONDITIONS PRECEDENT

This Amendment shall be effective as of the date hereof when each of the following has been satisfied:

3.1           This Amendment shall be signed by the Borrower, the Agent and the Required Lenders.

3.2           The Lenders shall have received an amendment to the Senior Note Purchase Agreement, and such amendment shall be executed simultaneously herewith, shall be satisfactory to the Agent and shall automatically become effective simultaneously with this Amendment.

 

  

2

  

ARTICLE 4.

MISCELLANEOUS.

4.1           References in the Loan Documents to the Credit Agreement shall be deemed to be references to the Credit Agreement as amended hereby and as further amended from time to time.  This Agreement is a Loan Document.  Terms used but not defined herein shall have the respective meanings ascribed thereto in the Credit Agreement.

4.2           Except as expressly amended hereby, each of the Borrower and each Guarantor agrees that the Loan Documents are ratified and confirmed and shall remain in full force and effect and that it has no set off, counterclaim, defense or other claim or dispute with respect to any of the foregoing.

4.3           This Agreement may be signed upon any number of counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument and signatures sent by facsimile or other electronic imaging shall be enforceable as originals.

 

  

3

  

IN WITNESS WHEREOF, the parties signing this Amendment have caused this Amendment to be executed, delivered and effective as of the date first above written.

	  	
MODINE MANUFACTURING COMPANY

	  	  
	  	
By:

	
/s/ Kathleen T. Powers

	  	  	  
	  	
Title:

	
Vice President, Treasurer and Investor Relations

  

4

  

 

	  	
JPMORGAN CHASE BANK, N.A., as the Agent, as the Swing Line Lender, as the LC Issuer and as a Lender

	 	 
	  	
By:

	
/JPMorgan Chase Bank, N.A./

	  	  	  
	  	
Title:

	 

  

5

  

 

	  	
U.S. BANK, N.A., as a Syndication Agent and as a Lender

	  	  	  
	  	
By:

	
/U.S. Bank, N.A./

	  	  	  
	  	
Title:

	 

  

6

  

 

	  	
WELLS FARGO BANK, N.A., as a Syndication Agent and as a Lender

	  	  	  
	  	
By:

	
/Wells Fargo Bank, N.A./

	  	  	  
	  	
Title:

	 

  

7

  

 

	  	
BMO HARRIS BANK N.A., formerly known as M&I Marshall & Ilsley Bank, as a Documentation Agent and as a Lender

	  	  	  
	  	
By:

	
/BMO Harris Bank N.A./

	  	  	  
	  	
Title:

	 

  

8

  

 

	  	
ASSOCIATED BANK, N.A.

	  	  	  
	  	
By:

	
/Associated Bank, N.A./

	  	  	  
	  	
Title:

	 

  

9

  

 

	  	
COMERICA BANK

	  	  	  
	  	
By:

	
/Comerica Bank/

	  	  	  
	  	
Title:

	 

 

  

10

  

 

CONSENT AND AGREEMENT

As of the date and year first above written, each of the undersigned hereby fully consents to the terms and provisions of the above Amendment and the consummation of the transactions contemplated thereby, and acknowledges and agrees to all terms and provisions of the above Amendment applicable to it, including without limitation all covenants, representations and warranties, releases, indemnifications, and all other terms and provisions.

 

	  	
MODINE, INC.

	 
	  	  	  	 
	  	
By:

	
/s/William K. Langan

	 
	  	  	  	 
	  	
Its:

	
President

	 
	  	  	  	 
	  	
MODINE LLC

	 
	  	  	  	 
	  	
By:

	
/s/ William K. Langan

	 
	  	  	  	 
	  	
Its:

	
President

	 

  

11

  

Schedule 2.3

See attached copy of the amendment to the Senior Note Purchase Agreement

 

  

 

  

 

Execution Copy

 

THIRD AMENDMENT TO NOTE PURCHASE AND PRIVATE SHELF AGREEMENT

 

This Third Amendment dated as of August 6, 2012 (this “Third Amendment”) to the Note Purchase and Private Shelf Agreement dated as of August 12, 2010 (as amended by the First Amendment thereto dated March 15, 2012 and the Second Amendment thereto dated as of April 20, 2012, the “Note Agreement”) is between Modine Manufacturing Company, a Wisconsin corporation (the “Company”), Prudential Investment Management, Inc. (“Prudential”) and each holder of the Notes (collectively, the “Noteholders”).

 

RECITALS:

 

A.           The Company, Prudential and the Noteholders are parties to the Note Agreement pursuant to which the Notes (as defined therein) are outstanding.

 

B.            The Company has requested that Prudential and the Noteholders agree to certain amendments to the Note Agreement as set forth below.

 

C.            Subject to the terms and conditions set forth herein, the Noteholders are willing to amend the Note Agreement in the respects, but only in the respects, set forth in this Third Amendment.

 

D.            Capitalized terms used herein shall have the respective meanings ascribed thereto in the Note Agreement, as amended hereby, unless herein defined or the context shall otherwise require.

 

E.            All requirements of law have been fully complied with and all other acts and things necessary to make this Third Amendment a valid, legal and binding instrument according to its terms for the purposes herein expressed have been done or performed.

 

NOW, THEREFORE, in consideration of good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Noteholders do hereby agree as follows:

 

	
SECTION 1.

	
AMENDMENTS.

 

Effective as of the Effective Date (as defined in Section 3 hereof), the Company and the Noteholders agree that the Note Agreement is amended as follows:

 

1.1           Section 10.2 of the Note Agreement is amended adding new clauses (j) and (k) thereto to read as follows:

 

“(j)           Debt consisting of Swap Contracts permitted under Section 10.12(a)(iv) hereof and Debt arising in connection with Banking Services Obligations (as such term is defined in the Credit Agreement as in effect on August 6, 2012).

 

  

- 2 -

  

 

(k)            Debt, in addition to other Debt permitted pursuant to other subsections of this Section 10.2, consisting of Guaranties of the Company with respect to Debt of its Subsidiaries permitted under the above clauses (h), (i) or (j) of this Section 10.2, provided that (1) no Default or Event of Default shall exist at the time of, or would be caused by, the incurrence of any such Guaranty and (2) the aggregate maximum amount of such Guaranties with respect to Debt of its Subsidiaries permitted under the above clauses (h) or (i) of this Section 10.2 at any time outstanding (based on the maximum amount of such Guaranties, net of any cash collateral or letter of credit provided with respect to such Guaranties or the related Debt) shall not exceed $40,000,000.”

 

1.2           Section 10.12(a) of the Note Agreement is amended by (i) deleting the “and” at the end of clause (viii) thereof, (ii) changing the “.” at the end of clause (ix) thereof to “; and” and (iii) adding a new clause (x) thereto to read as follows:

 

“(x)          Investments in Foreign Subsidiaries organized under the laws of the People’s Republic of China (“PRC”) solely to the extent required under any guaranty permitted under Section 10.2(k) hereof as may be necessary to ensure that the difference between (a) such Subsidiary's registered capital and (b) the total investment in such Subsidiary that is approved by the government of the PRC, as stated in the applicable Approval Certificate for Establishment of Enterprises with Foreign Investment in the PRC, is sufficient to cover all sums that the beneficiary of such guaranty is demanding or could demand under such guaranty if such Subsidiary were in default under any of the guaranteed obligations; provided that concurrently with, or from the proceeds of, such Investment, the Company shall cause such Subsidiary to repay in full such guaranteed obligations.”

 

1.3           Section 5.4(a) of the Note Agreement is amended by replacing the words “the date of this Agreement” at the end thereof with “August 6, 2012.”

 

1.4           Schedule 5.4 of the Note Agreement is amended and restated in its entirety to read as set forth on Schedule 5.4 attached hereto.

 

	
SECTION 2.

	
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

To induce Prudential and the Noteholders to execute and deliver this Third Amendment (which representations shall survive the execution and delivery of this Third Amendment), the Company and each Subsidiary Guarantor represents and warrants to the Noteholders that:

 

(a)            this Third Amendment has been duly authorized, executed and delivered by it and this Third Amendment constitutes the legal, valid and binding obligation, contract and agreement of the Company enforceable against it in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles relating to or limiting creditors’ rights generally;

 

  

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(b)           the Note Agreement, as amended by this Third Amendment, constitutes the legal, valid and binding obligations, contracts and agreements of the Company enforceable against it in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles relating to or limiting creditors’ rights generally;

 

(c)            the execution, delivery and performance by the Company of this Third Amendment (i) has been duly authorized by all requisite corporate action and, if required, shareholder action, (ii) does not require the consent or approval of any governmental or regulatory body or agency, and (iii) will not (A)(1) violate any provision of law, statute, rule or regulation or its certificate of incorporation or bylaws, (2) any order of any court or any rule, regulation or order of any other agency or government binding upon it, or (3) any provision of any indenture, agreement or other instrument to which it is a party or by which its properties or assets are or may be bound, including without limitation the Credit Agreement, or (B) result in a breach or constitute (alone or with due notice or lapse of time or both) a default under, or require any consent or approval under, any indenture, agreement or other instrument referred to in clause (iii)(A)(3) of this Section 3(c);

 

(d)           after giving effect to the amendments to the Note Agreement contained in this Third Amendment and to the amendment to the Credit Agreement described in Section 4(b) below, all the representations and warranties contained in Section 5 of the Note Agreement and in the other Transaction Documents are true and correct in all material respects with the same force and effect as if made by the Company and the Subsidiary Guarantors on and as of the date hereof;

 

(e)            after giving effect to the amendments to the Note Agreement contained in this Third Amendment and to the amendment to the Credit Agreement described in Section 3(b) below, no Default or Event of Default shall be in existence;

 

(f)             complete and correct copies of the amendment to the Credit Agreement referred to in Section 3(b) below, and all agreements and documents executed in connection therewith have been delivered to the Noteholders and are attached hereto as Exhibit A, and such amendments and other agreements and documents are being executed simultaneously herewith; and

 

(g)            neither the Company nor any of its Subsidiaries has paid or agreed to pay, and neither the Company nor any of its Subsidiaries will pay or agree to pay, any fees or other consideration for the amendments described in Section 3(b) below, other than out-of-pocket costs and expenses as set forth in or required pursuant to such amendments.

 

	
SECTION 3.

	
CONDITIONS TO EFFECTIVENESS.

 

This Third Amendment shall not become effective until, and shall become effective on the date (the “Effective Date”) when, each and every one of the following conditions shall have been satisfied:

 

  

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(a)           Executed counterparts of this Third Amendment, duly executed by the Company, the Subsidiary Guarantors, Prudential and the Noteholders, shall have been delivered to Prudential and the Noteholders;

 

(b)           The Noteholders shall have received an amendment to the Credit Agreement and all agreements and documents executed in connection therewith, and such amendment and other agreements and documents shall be executed simultaneously herewith, shall be satisfactory to the Required Holders and shall become effective simultaneously with this Third Amendment;

 

(c)           The representations and warranties of the Company set forth in Section 2 hereof shall be true and correct on the date of the effectiveness of this Third Amendment; and

 

(d)           All corporate and other proceedings taken or to be taken in connection with the transactions contemplated hereby and all documents incident thereto shall be satisfactory in substance and form to the Noteholders, and the Noteholders shall have received all such counterpart originals or certified or other copies of such documents as it may reasonably request.

 

	
SECTION 4.

	
EXPENSES.

 

The Company hereby confirms its obligations under the Note Agreement, whether or not the transactions hereby contemplated are consummated, to pay, promptly after request by any Noteholder, all reasonable out-of-pocket costs and expenses, including attorneys’ fees and expenses, incurred by any Noteholder in connection with this Third Amendment or the transactions contemplated hereby, in enforcing any rights under this Third Amendment, or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Third Amendment or the transactions contemplated hereby.  The obligations of the Company under this Section 4 shall survive transfer by any Noteholder of any Note and payment of any Note.

 

	
SECTION 5.

	
REAFFIRMATION.

 

Each Subsidiary Guarantor hereby consents to the terms and conditions of this Third Amendment, including without limitation all covenants, representations and warranties, releases, indemnifications, and all other terms and provisions hereof, and the consummation of the transactions contemplated hereby, and acknowledges that its Guaranty under the Subsidiary Guaranty and its obligations under all other Transaction Documents to which it is a party remain in full force and effect and is hereby ratified and confirmed in all respects.

 

	
SECTION 6.

	
MISCELLANEOUS.

 

6.1           This Third Amendment shall be construed in connection with and as part of the Note Agreement, and except as modified and expressly amended by this Third Amendment, all terms, conditions and covenants contained in the Note Agreement and the Notes are hereby ratified and shall be and remain in full force and effect.  The Company and the Subsidiary Guarantors acknowledge and agree that no holder is under any duty or obligation of any kind or nature whatsoever to grant the Company any additional amendments or waivers of any type, whether or not under similar circumstances, and no course of dealing or course of performance shall be deemed to have occurred as a result of the amendments herein.

 

  

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6.2           Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery of this Third Amendment may refer to the Note Agreement without making specific reference to this Third Amendment but nevertheless all such references shall include this Third Amendment unless the context otherwise requires.

 

6.3           The descriptive headings of the various Sections or parts of this Third Amendment are for convenience only and shall not affect the meaning or construction of any of the provisions hereof.

 

6.4           This Third Amendment shall be governed by and construed in accordance with New York law.

 

6.5           The execution hereof by you shall constitute a contract between us for the uses and purposes hereinabove set forth, and this Third Amendment may be executed in any number of counterparts, each executed counterpart constituting an original, but all together only one agreement.

 

* * * * *

 

  

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MODINE MANUFACTURING COMPANY

	 	 	 
	  	
By:

	 
	  	
Name:

	 
	  	
Title:

	 
	  	  	 
	  	
MODINE, INC.

	 	 	 
	  	
By:

	 
	  	
Name:

	 
	  	
Title:

	 
	  	  	 
	  	
MODINE LLC

	  	
By: Modine, Inc., its sole member

	 	 	 
	  	
By:

	 
	  	
Name:

	 
	  	
Title:

	 

 

  

1

  

 

	
ACCEPTED AND AGREED TO:

	  
	
PRUDENTIAL INVESTMENT MANAGEMENT, INC.

	  
	  	  	  
	
By:

	 	  
	  	
Vice President

	  

 

	
THE PRUDENTIAL INSURANCE COMPANY

	 
	
  OF AMERICA

	 
	
By:

	  	 
	
Title:

	
Vice President

	 
	  	  	 
	
PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY

	 	 
	
By:

	
Prudential Investment Management, Inc.,

as investment manager

	 
	  	  	 
	
By:

	  	 
	
Title:

	
Vice President

	 

 

 

2

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