Document:

secondamendmentto2017cre

                         SECOND AMENDMENT TO                             CREDIT AGREEMENT         This SECOND  AMENDMENT  TO  CREDIT  AGREEMENT           (this  “Second  Amendment”) is entered into as of December 20, 2019 (the “Second Amendment Closing Date”)  and  effective  as  of  the  Second  Amendment  Effective  Date  (as  defined  below),  among  HERITAGE-CRYSTAL CLEAN, LLC, an Indiana limited liability company (the “Borrower”),  HERITAGE-CRYSTAL CLEAN, INC., a Delaware corporation (“Holdings”), each Subsidiary  of the Borrower from time to time party to the Credit Agreement referred to below (collectively  with  Holdings,  the  “Guarantors”;  and  the  Guarantors  together  with  the  Borrower,  the  “Loan  Parties”),  each  lender  from  time  to  time  party  to  such  Credit  Agreement  (collectively,  the  “Lenders”  and  individually,  each  a  “Lender”),  and BANK  OF  AMERICA,  N.A.,  as  the  Administrative Agent (the “Agent”).         WHEREAS, the Borrower, the other Loan Parties, the Lenders and the Agent are party to  that certain Credit Agreement, dated as of February 21, 2017 (as amended, restated, supplemented  or  modified  from  time  to  time,  the  “Credit  Agreement”),  pursuant  to  which  the  Lenders  have  extended credit to the Borrower on the terms set forth therein;         WHEREAS,  the  Loan  Parties  and  the  Required  Lenders  have  agreed  to  make  certain  amendments and updates to the Credit Agreement on the terms and subject to the conditions set  forth herein;         NOW,  THEREFORE,  in  consideration  of  the  mutual  agreements,  provisions  and  covenants  contained  herein,  and  for  other  good  and  valuable  consideration,  the  receipt  and  sufficiency of which are hereby acknowledged, the parties agree as follows:         1.    Definitions.   Capitalized  terms  used  herein  without  definition  shall  have  the  meanings  assigned  to  such  terms  in  the  Credit  Agreement.   This  Second  Amendment  shall  constitute  a  Loan  Document  for  all  purposes  of  the  Credit  Agreement  and  the  other  Loan  Documents.         2.    Amendments to Section 1.01 (Defined Terms) of the Credit Agreement.              (a)   The definition of “Base Rate” is hereby amended to read in its entirety as  follows:                ““Base Rate” means for any day a fluctuating rate per annum equal to the highest        of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the LIBOR Rate plus 1.00%, and (c) the        rate of interest in effect for such day as publicly announced from time to time by Bank of        America as its “prime rate”.  The “prime rate” is a rate set by Bank of America based upon        various  factors  including  Bank  of  America’s  costs  and  desired  return,  general  economic        conditions and other factors, and is used as a reference point for pricing some loans, which        may be priced at, above, or below such announced rate.  Any change in such prime rate        announced  by  Bank  of  America  shall  take  effect  at  the  opening  of  business  on  the  day        specified in the public announcement of such change. If the Base Rate is being used as an        alternate rate of interest pursuant to Section 3.03 hereof, then the Base Rate shall be the        greater of clauses (a) and (c) above and shall be determined without reference to clause (b)        above.” 

 

            (b)   The definition of “ERISA” is hereby amended to read in its entirety as  follows:                ““ERISA”  means  the  Employee  Retirement  Income  Security  Act  of  1974,  as        amended, and the rules and regulations promulgated thereunder.”               (c)   The definition of “LIBOR Rate” is hereby amended to read in its entirety  as follows:                ““LIBOR Rate” means,         (a)   for  any  Interest  Period  with  respect  to  a  LIBOR  Rate  Loan, the  rate  per  annum        equal  to  the  London  Interbank  Offered  Rate  as  administered  by  ICE  Benchmark        Administration (or any other Person that takes over the administration of such rate for U.S.        Dollars for a period equal in length to such Interest Period) (“LIBOR”) as published on the        applicable Bloomberg screen page (or such other commercially available source providing        such quotations as may be designated by the Administrative Agent from time to time) at        approximately 11:00 a.m., London time, two Business Days prior to the commencement of        such  Interest  Period,  for  Dollar  deposits  (for  delivery  on  the  first  day  of  such  Interest        Period) with a term equivalent to such Interest Period;          (b)   for any interest calculation with respect to a Base Rate Loan on any date, the rate        per annum equal to LIBOR, at or about 11:00 a.m., London time determined two Business        Days prior to such date for U.S. Dollar deposits with a term of one month commencing that        day; and         (c) if the LIBOR Rate shall be less than zero, such rate shall be deemed zero for purposes        of this Agreement.”               (d)   The definition of “Wilmington City Property” is hereby deleted in its  entirety.                (e)   The following definitions are hereby added to Section 1.01 in the  appropriate alphabetical order:               ““Beneficial  Ownership  Certification”  means  a  certification  regarding  beneficial        ownership required by the Beneficial Ownership Regulation.               “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.               “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA)        that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or        (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for        purposes  of  Title  I  of  ERISA  or  Section  4975  of  the  Code)  the  assets  of  any  such        “employee benefit plan” or “plan”.               “LIBOR Screen Rate” means the LIBOR quote on the applicable screen page the        Administrative  Agent  designates  to  determine  LIBOR  (or  such  other  commercially        available  source  providing  such  quotations  as  may  be  designated  by  the  Administrative        Agent from time to time).               “LIBOR Successor Rate” has the meaning specified in Section 3.03(c).                                      2   4810-9188-4449, v. 8

 

            “LIBOR  Successor  Rate  Conforming  Changes”  means,  with  respect  to  any        proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate,        Interest Period, timing and frequency of determining rates and making payments of interest        and  other  technical,  administrative  or  operational  matters  as  may  be  appropriate,  in  the        discretion of the Administrative Agent, to reflect the adoption and implementation of such        LIBOR  Successor  Rate  and  to  permit  the  administration  thereof  by  the  Administrative        Agent in a manner substantially consistent with market practice (or, if the Administrative        Agent  determines  that  adoption  of  any  portion  of  such  market  practice  is  not        administratively feasible or that no market practice for the administration of such LIBOR        Successor Rate exists, in such other manner of administration as the Administrative Agent        determines  is  reasonably  necessary  in  connection  with  the  administration  of  this        Agreement).                “Permitted Sale Properties” means those certain industrial facilities located at (i)        505 South Market Street, Wilmington City, Delaware; (ii) 5690 W. Midway Road (a/k/a        Environment Drive) Fort Pierce, Florida; (iii) 2124 East Highway 31, Corsicana, Texas and        (iv) 809 Overstreet Street, Franklin, Indiana.                “PTE”  means  a  prohibited  transaction  class  exemption  issued  by  the  U.S.        Department of Labor, as any such exemption may be amended from time to time.               “Relevant  Governmental  Body”  means  the  Federal  Reserve  Board  and/or  the        Federal Reserve Bank of New York, or a committee officially endorsed or convened by the        Federal Reserve Board and/or the Federal Reserve Bank of New York for the purpose of        recommending  a  benchmark  rate  to  replace  LIBOR  in  loan  agreements  similar  to  this        Agreement.               “Second Amendment Closing Date” means December 20, 2019.               “SOFR”  with  respect  to  any  day  means  the  secured  overnight  financing  rate        published for such day by the Federal Reserve Bank of New York, as the administrator of        the benchmark (or a successor administrator) on the Federal Reserve Bank of New York’s        website (or any successor source) and, in each case, that has been selected or recommended        by the Relevant Governmental Body.               “SOFR-Based Rate” means SOFR or Term SOFR.                “Term  SOFR”  means  the  forward-looking  term  rate  for  any  period  that  is        approximately (as determined by the Administrative Agent) as long as any of the Interest        Period options set forth in the definition of “Interest Period” and that is based on SOFR        and that has been selected or recommended by the Relevant Governmental Body, in each        case as published on an information service as selected by the Administrative Agent from        time to time in its reasonable discretion.”         3.    Amendments to Section 1.05 (Times of Day; Rates) of the Credit Agreement.  Section 1.05 is hereby deleted in its entirety and replaced with the following:               “1.05. Times of Day; Rates.  Unless otherwise specified, all references herein to        times of day shall be references to Eastern time (daylight or standard, as applicable).  The        Administrative  Agent  does  not  warrant,  nor  accept  responsibility,  nor  shall  the        Administrative Agent have any liability with respect to the administration, submission or        any other matter related to the rates in the definition of “LIBOR Rate” or with respect to                                      3   4810-9188-4449, v. 8

 

      any rate that is an alternative or replacement for or successor to any of such rate (including,        without limitation, any LIBOR Successor Rate) or the effect of any of the foregoing, or of        any LIBOR Successor Rate Conforming Changes.”         4.    Amendments  to  Section  3.03  (Inability  to  Determine  Rates)  of  the  Credit  Agreement. Section 3.03 is hereby deleted in its entirety and replaced with the following:               “3.03.  Inability to Determine Rates.                 (a)   If in connection with any request for a LIBOR Rate Loan or a conversion        to  or  continuation  thereof,  (i)  the  Administrative  Agent  determines  that  (A)  U.S.  Dollar        deposits are not being offered to banks in the London interbank Eurodollar market for the        applicable amount and Interest Period of such LIBOR Rate Loan, or (B)(x) adequate and        reasonable means do not exist for determining the LIBOR Rate for any requested Interest        Period with respect to a proposed LIBOR Rate Loan or in connection with an existing or        proposed Base Rate Loan and (y) the circumstances described in Section 3.03(c)(i) do not        apply  (in  each  case  with  respect  to  this  clause  (i),  “Impacted  Loans”),  or  (ii)  the        Administrative  Agent determines  that  for  any  reason  the  LIBOR  Rate  for  any  requested        Interest Period with respect to a proposed LIBOR Rate Loan does not adequately and fairly        reflect  the  cost  to  such  Lenders  of  funding  such  LIBOR  Rate  Loan,  the  Administrative        Agent  will  promptly  so  notify  the  Borrower  and  each  Lender.   Thereafter,  (x) the        obligation of the Lenders to make or maintain LIBOR Rate Loans shall be suspended, (to        the extent of the affected LIBOR Rate Loans or Interest Periods), and (y) in the event of a        determination  described  in  the  preceding  sentence  with  respect  to  the  LIBOR  Rate        component of the Base Rate, the utilization of the LIBOR Rate component in determining        the  Base  Rate  shall  be  suspended,  in  each  case  until  the  Administrative  Agent  (upon        instruction of the Required Lenders) revokes such notice.  Upon receipt of such notice, the        Borrower  may  revoke  any  pending  request  for  a  Borrowing  of,  conversion  to  or        continuation  of  LIBOR  Rate Loans  (to the  extent  of the  affected LIBOR  Rate  Loans  or        Interest  Periods)  or,  failing  that,  will  be  deemed  to  have  converted  such  request  into  a        request for a Committed Borrowing of Base Rate Loans in the amount specified therein.               (b)   Notwithstanding  the  foregoing,  if  the  Administrative  Agent  or  the        Required Lenders have made the determination described in clause (i) of Section 3.03(a),        the Administrative Agent, in consultation with the Borrower, may establish an alternative        interest rate for the Impacted Loans, in which case, such alternative rate of interest shall        apply  with  respect  to  the  Impacted  Loans  until  (i)  the  Administrative  Agent  or  the        Required  Lenders  (as  applicable)  revoke(s)  the  notice  delivered  with  respect  to  the        Impacted  Loans  under  clause  (i)  of  the  first  sentence  of  this  Section  3.03(a),  (ii)  the        Administrative  Agent  or  the  Required  Lenders  notify  the  Administrative  Agent  and  the        Borrower that such alternative interest rate does not adequately and fairly reflect the cost to        such Lenders of funding the Impacted Loans, or (iii) any Lender determines that any Law        has made it unlawful, or that any Governmental Authority has asserted that it is unlawful,        for such Lender or its applicable Lending Office to make, maintain or fund Loans whose        interest  is determined  by  reference to such alternative  rate  of  interest or to  determine  or        charge  interest  rates  based  upon  such  rate  or  any  Governmental  Authority  has  imposed        material  restrictions  on  the  authority  of  such  Lender  to  do  any  of  the  foregoing  and        provides the Administrative Agent and the Borrower written notice thereof.               (c)   Notwithstanding anything to the contrary in this Agreement or any other        Loan  Documents,  if the  Administrative  Agent  determines  (which  determination  shall  be        conclusive  absent  manifest  error),  or  the  Borrower  or  Required  Lenders  notify  the                                      4   4810-9188-4449, v. 8

 

      Administrative Agent (with, in the case of the Required Lenders, a copy to Borrower) that        the Borrower or Required Lenders (as applicable) have determined, that:               (i)   adequate  and  reasonable  means  do  not  exist  for  ascertaining  LIBOR  for                    any  requested  Interest  Period,  including,  without  limitation,  because  the                    LIBOR Screen Rate is not available or published on a current basis and                    such circumstances are unlikely to be temporary; or                (ii)   the administrator of the LIBOR Screen Rate or a Governmental Authority                    having  jurisdiction  over  the  Administrative  Agent  has  made  a  public                    statement  identifying  a  specific  date  after  which  LIBOR  or  the  LIBOR                    Screen Rate shall no longer be made available, or used for determining the                    interest rate of loans, provided that, at the time of such statement, there is                    no successor administrator that is satisfactory to the Administrative Agent,                    that will continue to provide LIBOR after such specific date (such specific                    date, the “Scheduled Unavailability Date”), or               (iii) syndicated loans currently being executed, or that include language similar                    to  that  contained  in  this  Section,  are  being  executed  or  amended  (as                    applicable)  to  incorporate  or  adopt  a  new  benchmark  interest  rate  to                    replace LIBOR,          then, reasonably promptly after such determination by the Administrative Agent or receipt        by the Administrative Agent of such notice, as applicable,  the Administrative Agent and        the  Borrower  may  amend  this  Agreement  solely  for  the  purpose of  replacing  LIBOR  in        accordance with this Section 3.03 with (x) one or more SOFR-Based Rates or (y) another        alternate  benchmark  rate  giving  due  consideration  to  any  evolving  or  then  existing        convention  for  similar  U.S.  dollar  denominated  syndicated  credit  facilities  for  such        alternative benchmarks and, in each case, including any mathematical or other adjustments        to such benchmark giving due consideration to any evolving or then existing convention        for similar U.S. dollar denominated syndicated credit facilities for such benchmarks, which        adjustment or method for calculating such adjustment shall be published on an information        service  as  selected  by  the  Administrative  Agent  from  time  to  time  in  its  reasonable        discretion  and  may  be  periodically  updated  (the  “Adjustment;”  and  any  such  proposed        rate,  a  “LIBOR  Successor  Rate”),  and  any  such  amendment  shall  become  effective  at        5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such        proposed amendment to all Lenders and the Borrower unless, prior to such time, Lenders        comprising  the  Required  Lenders  have  delivered  to  the  Administrative  Agent  written        notice that such Required Lenders (A) in the case of an amendment to replace LIBOR with        a rate described in clause (x), object to the Adjustment; or (B) in the case of an amendment        to replace LIBOR with a rate described in clause (y), object to such amendment; provided        that for the avoidance of doubt, in the case of clause (A), the Required Lenders shall not be        entitled  to  object  to  any  SOFR-Based  Rate  contained  in  any  such  amendment.   Such        LIBOR  Successor  Rate  shall  be  applied  in  a  manner  consistent  with  market  practice;        provided  that  to  the  extent  such  market  practice  is  not  administratively  feasible  for  the        Administrative  Agent,  such  LIBOR  Successor  Rate  shall  be  applied  in  a  manner  as        otherwise reasonably determined by the Administrative Agent.              If no LIBOR Successor Rate has been determined and the circumstances under clause (i)        above  exist  or  the  Scheduled  Unavailability  Date  has  occurred  (as  applicable), the        Administrative Agent will promptly so notify the Borrower and each Lender.  Thereafter,        (x) the  obligation  of  the  Lenders  to  make  or  maintain  Eurodollar  Rate  Loans  shall  be                                      5   4810-9188-4449, v. 8

 

      suspended, (to the extent of the affected Eurodollar Rate Loans or Interest Periods), and        (y) the  Eurodollar  Rate  component  shall  no  longer  be  utilized  in  determining  the  Base        Rate.  Upon receipt  of such  notice, the  Borrower  may revoke  any  pending  request for a        Borrowing of, conversion to or continuation of Eurodollar Rate Loans (to the extent of the        affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have        converted  such  request  into  a  request  for  a  Committed  Borrowing  of  Base  Rate  Loans        (subject to the foregoing clause (y)) in the amount specified therein.         Notwithstanding  anything  else  herein,  any  definition  of  LIBOR  Successor  Rate  shall        provide that in no event shall such LIBOR Successor Rate be less than zero for purposes of        this Agreement.                In  connection  with  the  implementation  of  a  LIBOR  Successor  Rate,  the        Administrative  Agent  will  have  the  right  to  make  LIBOR  Successor  Rate  Conforming        Changes from time to time and, notwithstanding anything to the contrary herein or in any        other  Loan  Document,  any  amendments  implementing  such  LIBOR  Successor  Rate        Conforming Changes will become effective without any further action or consent of any        other party to this Agreement; provided that, with respect to any such amendment effected,        the  Administrative  Agent  shall  post  each  such  amendment  implementing  such  LIBOR        Successor Conforming Changes to the Lenders reasonably promptly after such amendment        becomes effective.”         5.    Amendments to Section 5.12 (ERISA Compliance) of the Credit Agreement.   A  new  clause  (d)  is  hereby  added  to  Section  5.12  of  the  Credit  Agreement,  in  appropriate  alphabetical order, to read in its entirety as follows:               “(d) The Borrower represents and warrants as of the Second Amendment Effective        Date that the Borrower is not and will not be using “plan assets” (within the meaning of 29        CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans        in connection with the Loans, the Letters of Credit or the Commitments;”         6.    Amendments  to  Section  7.03  (Indebtedness)  of  the  Credit  Agreement.  Effective March 23, 2019, Section 7.03(e) of the Credit Agreement is hereby deleted in its entirety  and replaced with the following:               “(e)  Indebtedness  in  respect  of  Capitalized  Leases,  Synthetic  Lease  Obligations        and purchase money obligations for fixed or capital assets of the Loan Parties within the        limitations set forth in Section 7.01(i); provided, however, that the aggregate amount of all        such Indebtedness, shall not exceed $100,000,000;”         7.    Amendments to Section 7.05 (Dispositions) of the Credit Agreement. Section  7.05(e) of the Credit Agreement is hereby deleted in its entirety and replaced with the following:               “(e)  Based  upon  information  separately  provided  to  the  Lenders,  Disposition  of        each of the Permitted Sale Properties, provided that (i) at the time of any such Disposition        and  after  giving  effect  thereto,  no  Default  or  Event  of  Default  has  occurred  and  is        continuing,  (ii)  each  Permitted  Sale  Property  is  sold  or  otherwise  transferred  without        liabilities being retained by the Borrower or any other Loan Party, (iii) the purchase price        is paid in cash and (iv) each Permitted Sale Property is sold or otherwise transferred for        fair market value; and”                                       6   4810-9188-4449, v. 8

 

      8.    Amendments to add a new Section 9.12 (Certain ERISA Matters) to the  Credit Agreement.  A new Section 9.12 is hereby added to the Credit Agreement, in appropriate  numerical order, to read in its entirety as follows:               “9.12. Certain ERISA Matters. (a) Each Lender (x) represents and warrants, as of        the date such Person became a Lender party hereto, to, and (y) covenants, from the date        such Person became a Lender party hereto to the date such Person ceases being a Lender        party  hereto,  for  the  benefit  of,  the  Administrative  Agent  and  the  Arrangers  and  their        respective  Affiliates,  and  not,  for  the  avoidance  of  doubt,  to  or  for  the  benefit  of  the        Borrower or any other Loan Party, that at least one of the following is and will be true:                (i) such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-             101,  as  modified  by  Section  3(42)  of  ERISA)  of  one  or  more  Benefit  Plans  in              connection with the Loans, the Letters of Credit or the Revolving Commitments,               (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a              class  exemption  for  certain  transactions  determined  by  independent  qualified              professional  asset  managers),  PTE  95-60  (a  class  exemption  for  certain              transactions  involving  insurance  company  general  accounts),  PTE  90-1  (a  class              exemption  for  certain  transactions  involving  insurance  company  pooled  separate              accounts),  PTE 91-38  (a  class exemption  for certain transactions involving  bank              collective  investment  funds)  or  PTE  96-23  (a  class  exemption  for  certain              transactions determined by in-house asset managers), is applicable with respect to              such Lender’s entrance into, participation in, administration of and performance of              the Loans, the Letters of Credit, the Revolving Commitments and this Agreement,               (iii) (A) such Lender is an investment fund managed by a “Qualified Professional              Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified              Professional  Asset  Manager  made  the  investment  decision  on  behalf  of  such              Lender to enter into, participate in, administer and perform the Loans, the Letters              of Credit, the Revolving Commitments and this Agreement, (C) the entrance into,              participation  in,  administration  of  and  performance  of  the  Loans,  the  Letters  of              Credit, the Revolving Commitments and this Agreement satisfies the requirements              of  sub-sections  (b)  through  (g)  of  Part  I  of  PTE  84-14  and  (D)  to  the  best              knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-             14  are  satisfied  with  respect  to  such  Lender’s  entrance  into,  participation  in,              administration  of  and  performance  of  the  Loans,  the  Letters  of  Credit,  the              Revolving Commitments and this Agreement, or               (iv) such other representation, warranty and covenant as may be agreed in writing              between the Administrative Agent, in its sole discretion, and such Lender.               (b) In addition, unless either (1) sub-clause (i) in the immediately preceding clause        (a) is true with respect to a Lender or (2) a Lender has provided another representation,        warranty  and  covenant  in  accordance  with  sub-clause  (iv)  in  the  immediately  preceding        clause  (a),  such  Lender  further  (x)  represents  and  warrants,  as  of  the  date  such  Person        became a Lender party hereto, to, and (y) covenants, from the date such Person became a        Lender  party  hereto  to  the  date such  Person  ceases  being  a  Lender  party  hereto,  for  the        benefit  of,  the  Administrative  Agent  and  not,  for  the  avoidance  of  doubt,  to  or  for  the        benefit of the  Borrower  or  any other  Loan  Party,  that  the  Administrative  Agent  is not a        fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into,        participation in, administration of and performance of the Loans, the Letters of Credit, the                                      7   4810-9188-4449, v. 8

 

      Revolving Commitments and this Agreement (including in connection with the reservation        or  exercise  of  any  rights  by  the  Administrative  Agent  under  this  Agreement,  any  Loan        Document or any documents related hereto or thereto).”         9.    Amendments to Section 11.01 (Amendments, Etc.) of the Credit Agreement.   Section 11.01 is hereby amended by deleting the first reference to “No” therein and replacing it  with the following: “Subject to Section 3.03(c), no”.         10.   Amendments to add a new Section 11.23 (Acknowledgement Regarding Any  Supported QFCs) to the Credit Agreement.  A new Section 11.23 is hereby added to the Credit  Agreement, in appropriate numerical order, to read in its entirety as follows:               “11.23.  Acknowledgement Regarding Any Supported QFCs. To the extent that        the  Loan  Documents  provide  support,  through  a  guarantee  or  otherwise,  for  any  Swap        Contract or any other agreement or instrument that is a QFC (such support, “QFC Credit        Support”, and each such QFC, a “Supported QFC”), the parties acknowledge and agree as        follows with respect to the resolution power of the Federal Deposit Insurance Corporation        under  the  Federal  Deposit  Insurance  Act  and  Title  II  of  the  Dodd-Frank  Wall  Street        Reform  and  Consumer  Protection  Act  (together  with  the  regulations  promulgated        thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and        QFC Credit Support (with the provisions below applicable notwithstanding that the Loan        Documents and any Supported QFC may in fact be stated to be governed by the laws of the        State of New York and/or of the United States or any other state of the United States):                      (a)   In  the  event  a  Covered  Entity  that  is  party  to  a  Supported  QFC              (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special              Resolution  Regime, the  transfer  of such  Supported  QFC  and  the benefit  of  such              QFC Credit Support (and any interest and obligation in or under such Supported              QFC  and  such  QFC  Credit  Support,  and  any  rights  in  property  securing  such              Supported  QFC  or  such  QFC  Credit  Support)  from  such  Covered  Party  will  be              effective  to  the  same  extent  as  the  transfer  would  be  effective  under  the  U.S.              Special  Resolution  Regime if  the  Supported  QFC  and  such  QFC  Credit  Support              (and  any  such  interest,  obligation  and  rights  in  property)  were  governed  by  the              laws of the United States or a state of the United States. In the event a Covered              Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding              under  a  U.S.  Special  Resolution  Regime,  Default  Rights  under  the  Loan              Documents that might otherwise apply to such Supported QFC or any QFC Credit              Support  that  may  be  exercised  against  such  Covered  Party  are  permitted  to  be              exercised to no greater extent than such Default Rights could be exercised under              the  U.S.  Special  Resolution  Regime  if  the  Supported  QFC  and  the  Loan              Documents were governed by the laws of the United States or a state of the United              States. Without limitation of the foregoing, it is understood and agreed that rights              and remedies of the parties with respect to a Defaulting Lender shall in no event              affect  the  rights  of  any  Covered  Party  with  respect  to  a  Supported  QFC  or  any              QFC Credit Support.                       (b)   As  used  in  this  Section  11.23,  the  following  terms  have  the              following meanings:                           “BHC Act Affiliate” of a party means an “affiliate” (as such term                    is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of                    such party.                                      8   4810-9188-4449, v. 8

 

                        “Covered  Entity”  means  any  of  the  following:  (i)  a  “covered                    entity” as that term is defined in, and interpreted in accordance with, 12                    C.F.R.  § 252.82(b); (ii) a “covered bank”  as that term  is  defined in, and                    interpreted  in  accordance  with,  12  C.F.R.  § 47.3(b);  or  (iii)  a  “covered                    FSI”  as  that  term  is  defined  in,  and  interpreted  in  accordance  with,  12                    C.F.R. § 382.2(b).                           “Default Right” has the meaning assigned to that term in, and shall                    be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as                    applicable.                           “QFC” has the meaning assigned to the term “qualified financial                    contract”  in,  and  shall  be  interpreted  in  accordance  with,  12  U.S.C.                    5390(c)(8)(D).”         11.   Conditions to Effectiveness. This Second Amendment shall become effective on  the  first  date  (the  “Second  Amendment  Effective  Date”)  upon  which  each  of  the  following  conditions  has  been  satisfied,  which  date  shall  be  December  20,  2019:  (i)  the  Agent  shall  have  received counterpart signature pages to this Second Amendment duly executed and delivered by  the  Borrower,  each  other  Loan  Party  and  the  Required  Lenders,  (ii)  arrangements  completely  satisfactory to the Agent shall have been made for the payment at closing of all fees and expenses  incurred in connection with this Second Amendment (including the fees and expenses of counsel  for the Agent) to the extent invoiced on or prior to the date hereof and (iii) upon the reasonable  request of any Lender made at least five days prior to the Second Amendment Closing Date, the  Borrower shall have provided to such Lender, and such Lender shall be reasonably satisfied with,  the documentation and other information so requested in connection with applicable “know your  customer”  and  anti-money-laundering  rules  and  regulations,  including,  without  limitation,  the  PATRIOT Act, in each case at least five days prior to the Second Amendment Closing Date.         12.   Representations  and  Warranties.   The  Borrower  and  each  other  Loan  Party  jointly and severally represents and warrants to the Agent and the Lenders as follows:               (a)   The  execution,  delivery  and  performance  of  this  Second  Amendment  (i)  are within the authority of each of the Loan Parties, (ii) have been duly authorized by all necessary  corporate proceedings by each of the corporate Loan Parties, and by all necessary proceedings by  the managers or members (as required) by each of the limited liability company Loan Parties, (iii)  do  not  conflict  with  or  result  in  any  material  breach  or  contravention  of  any  provision  of  law,  statute, rule or regulation to which any of the Loan Parties is subject or any judgment, order, writ,  injunction,  license  or  permit applicable  to  any  of the  Loan  Parties  so  as  to  materially  adversely  affect  the  assets,  business or  any  activity  of  the  Loan  Parties,  and  (iv)  do  not  conflict  with  any  provision of the corporate charter, articles of incorporation or bylaws of the corporate Loan Parties,  the articles of organization or operating agreements of the limited liability company Loan Parties,  or any agreement or other instrument binding upon any of the Loan Parties.               (b)   The execution, delivery and performance of this Second Amendment will  result  in  valid  and  legally  binding  obligations  of  the  Loan  Parties  enforceable  against  them  in  accordance with the terms and provisions hereof, except as such enforceability may be limited by  bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally  the  enforcement  of  creditors’  rights  and  except  to  the  extent  that  availability  of  the  remedy  of  specific performance or injunctive relief or other equitable remedy is subject to the discretion of the  court before which any proceeding therefor may be brought.                                      9   4810-9188-4449, v. 8

 

            (c)   The  execution,  delivery  and  performance  by  the  Loan  Parties  of  this  Second Amendment do not require any approval or consent of, or filing with, any third party or  governmental agency or authority.               (d)   The  representations  and  warranties  contained  in  Article  V  of  the  Credit  Agreement are true and correct in all material respects on and as of the date hereof, after giving  effect to this Second Amendment and the Permitted Dispositions, as though made on and as of the  date hereof, except to the extent that such representations and warranties specifically refer to an  earlier date, in which case they shall be true and correct in all material respects as of such earlier  date.  For purposes of this Paragraph 19(d), the representations and warranties contained in Section  5.05(a) of the Credit Agreement shall be deemed to refer to the most recent statements furnished  pursuant to Section 6.01(a) of the Credit Agreement.               (e)   Both  before  and  after  giving  effect  to  this  Second  Amendment  and  the  Permitted Dispositions, no Default or Event of Default has occurred and is continuing.         13.   No Waiver.  Nothing contained herein shall be deemed to (i) constitute a waiver of  any Default or Event of Default that may heretofore or hereafter occur or have occurred and be  continuing or, except as expressly provided herein, to otherwise modify any provision of the Credit  Agreement  or  other  Loan  Document,  or  (ii)  give  rise  to  any  defenses  or  counterclaims  to  any  Lender’s right to compel payment of the Obligations when due or to otherwise enforce its rights  and remedies under the Credit Agreement and the other Loan Documents.         14.   Ratification, etc.  Except as expressly amended hereby, the Credit Agreement, the  other  Loan  Documents,  all  documents,  instruments  and  agreements  related  thereto  and  the  Obligations are hereby ratified and confirmed in all respects and shall continue in full force and  effect.  This Second Amendment and the Credit Agreement shall hereafter be read and construed  together  as  a  single  document,  and  all  references  in  the  Credit  Agreement,  any  other  Loan  Document or any agreement or instrument related to the Credit Agreement shall hereafter refer to  the Credit Agreement as amended by this Second Amendment.         15.   GOVERNING  LAW.   THIS  SECOND  AMENDMENT  SHALL  BE  GOVERNED  BY  AND  CONSTRUED  IN  ACCORDANCE  WITH  THE  LAWS  OF  THE  STATE OF NEW YORK.        16.   Counterparts; Etc.  This Second Amendment may be executed in any number of  counterparts  and  by  different  parties  hereto  on  separate  counterparts,  each  of  which  when  so  executed and delivered shall be an original, but all of which counterparts taken together shall be  deemed to constitute one and the same instrument.  Any counterpart signed by all parties may be  introduced into evidence in any action or proceeding without having to produce or account for the  other counterparts.  Likewise, the existence of this Second Amendment may be established by the  introduction into evidence of counterparts that are separately signed, provided they are otherwise  identical in all material respects.  This Second Amendment, to the extent signed and delivered by  means  of  a  facsimile  machine  or  other  electronic  transmission  in  which  the  actual  signature  is  evident, shall be treated in all manner and respects as an original agreement or instrument and shall  be considered to have the same binding legal effect as if it were the original signed version thereof  delivered in person.  At the request of any party hereto, each other party hereto or thereto shall re- execute original forms hereof and deliver them to all other parties.  No party hereto shall raise the  use of a facsimile machine or other electronic transmission in which the actual signature is evident  to deliver a signature or the fact that any signature or agreement or instrument was transmitted or  communicated through the use of a facsimile machine or other electronic transmission in which the                                       10   4810-9188-4449, v. 8

 

actual signature is evident as a defense to the formation of a contract and each party forever waives  such defense.                 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]                                        11   4810-9188-4449, v. 8

 

 

 

By its signature below, each of the undersigned Guarantors hereby acknowledges and agrees to the terms of this Second  Amendment, including, without limitation,  the representations and warranties (and bringdowns  of the same)  applicable to each of them contained   herein. Each of the undersigned Guarantors hereby  affirms its obligations of payment and performance under Article X of the Credit Agreement, and agrees that all "Obligations", as defined in the Credit Agreement and after giving effect to this Second Amendment,   are covered by and guaranteed  under the Guaranty provided  under such Anicle X.                                               HERITAGE-CRYSTAL         CLEAN,   INC.,                                              as a Guarantor                                              By:                                              Name:   Mark DeVita                                              Title:  Chief Financial                                               HCC CORPORATION,LLC,                                              as a Guarantor                                              By:                                              Name:   Mark DeVita                                              Title:  Treasurer                                               HERITAGE.CRYSTAL         CLEAN,   LIMITED,                                              as a Guarantor                                              By                                              Name:   Mark DeVita                                              Title: Vice President                                               SAV-TECH     SOLVENT INC.,                                              as a Guarantor                                              By                                              Name:   Mark DeVita                                              Title:  Vice President                                               MIRACHEM,      LLC,                                              as a Guarantor                                               By                                              Name  : Patrick l)oushtv                                              Title:  President/ChiefExecutive Officer                                 fSignatures continued on following pages]Exhibit

Exhibit 10.6

[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10).  Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

AMENDMENT TO LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENT
This AMENDMENT TO LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENT (the “Amendment”) is made effective June 6, 2018 (the “Amendment Effective Date”) hereby amends the and is to the LICENSE, DEVELOPMENT, AND COMMERCIALIZATION AGREEMENT (the “Agreement”) December 11, 2013 by and between NEOTOPE BIOSCIENCES LIMITED (as of January 5, 2015 PROTHENA BIOSCIENCES LIMITED, “Prothena Ireland”) with respect to all rights and obligations under this Agreement outside of the United States, and PROTHENA BIOSCIENCES INC. (“Prothena US”) with respect to all rights and obligations under this Agreement in the United States (Prothena US, together with Prothena Ireland, “Prothena”), on the one hand, and F. HOFFMANN-LA ROCHE LTD (“Roche Basel”) with respect to all rights and obligations under this Agreement outside of the United States, and HOFFMANN-LA ROCHE INC. (“Roche Nutley”) with respect to all rights and obligations under this Agreement in the United States (Roche Nutley, together with Roche Basel, “Roche”), on the other hand. All capitalized terms used herein shall have the meaning ascribed herein or in the Agreement.   
RECITALS
WHEREAS, Roche [***];
WHEREAS, [***] as of the Amendment Effective Date;
WHEREAS, Prothena and Roche want to amend the Agreement to reflect this change.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and the covenants and promises contained in this Amendment and intending to be legally bound, the Parties agree as follows:
Sections 3.1 and 3.2 of the Agreement are hereby replaced as of the Amendment Effective Date with the following new Sections 3.1 and 3.2 which read as follows:
3.1      Antibody Products targeting Alpha-Synuclein.  During the Term, except as otherwise provided below, each Party and its Affiliates, [***], shall work exclusively with the other Party and its Affiliates to research and develop Antibody Products targeting Alpha-Synuclein. In particular, Prothena and its Affiliates will not conduct, participate in, or fund, 

-1-

directly or indirectly, alone or with a Third Party, research, development or commercialization activities specifically directed to any Antibody Products targeting Alpha-Synuclein except pursuant to this Agreement, and Roche and its Affiliates, [***], will not conduct, participate in, or fund, directly or indirectly, alone or with a Third Party, research, development or commercialization activities specifically directed to any Antibody Product targeting Alpha-Synuclein except pursuant to this Agreement.  [***].
3.2    [***].  [***].

-2-
[***] Certain information in this document has been excluded pursuant to Regulation S-K, Item 601(b)(10).  Such excluded information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed effective as of the Amendment Effective Date by their duly authorized representatives as set forth below.

PROTHENA BIOSCIENCES LIMITED        PROTHENA BIOSCIENCES INC

By: /s/ Ashley Keating     By: /s/ Karin Walker
Name: Ashley Keating    Name: Karin Walker 
Title: VP Technical Operations    Title: Chief Accounting Officer
F. HOFFMANN-LA ROCHE LTD        HOFFMANN-LA ROCHE INC.

By:  /s/ Stefan Arnold    By: /s/ John P. Parise    
Name:  Stefan Arnold    Name: John P. Parise
Title: Head Legal Pharma    Title: Authorized Signatory

By: /s/ Tim Steven    
Name: Tim Steven
Title: Global Alliance and Asset Management Director        

3

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