Document:

Exhibit 10.1

 

Execution Version

 

AMENDMENT
NO. 7 TO CREDIT AGREEMENT

 

This AMENDMENT NO.
7 TO CREDIT AGREEMENT (this “Amendment”), dated as of January 28, 2020, is entered into by and among AECOM (formerly
known as AECOM Technology Corporation), a Delaware corporation (the “Company”), each Borrower and Guarantor
(each as defined in the Credit Agreement (defined below)), each Lender (as defined in the Credit Agreement) under the Credit Agreement
that is a party hereto (including in its capacity as an L/C Issuer (as defined in the Credit Agreement) to the extent applicable
to such Lender), and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”),
Swing Line Lender and an L/C Issuer.

 

RECITALS

 

WHEREAS, the
Company, the other Borrowers, the Administrative Agent and certain banks and financial institutions (the “Existing Lenders”)
are parties to that certain Syndicated Facility Agreement, dated as of October 17, 2014 (as previously amended, as amended hereby
and as further amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”
and the Credit Agreement prior to giving effect to this Amendment being referred to as the “Existing Credit Agreement”),
pursuant to which the Existing Lenders have extended certain revolving and term facilities to the Company;

 

WHEREAS, the
Company and the other Loan Parties have requested certain amendments to certain terms of the Existing Credit Agreement as provided
herein, and the Administrative Agent and each of the undersigned Lenders have agreed to such requests, subject to the terms and
conditions of this Amendment; and

 

NOW, THEREFORE,
for valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.             Defined Terms. Unless otherwise defined herein, capitalized terms used herein shall have the meanings, if any, assigned
to such terms in the Credit Agreement, as amended by this Amendment.

 

2.             Amendments
to Credit Agreement, Schedules and Exhibits. Subject to the terms and conditions hereof and with effect from and after the
Amendment Effective Date (defined below), the body of the Existing Credit Agreement is hereby amended to delete the stricken text
(indicated textually in the same manner as the following example: stricken text)
and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined
text) as set forth in the amended pages to the Existing Credit Agreement attached hereto as Annex I.

 

3.             Representations and Warranties. Each Loan Party hereby represents and warrants to the Administrative Agent and the
Lenders as follows:

 

(a)           the execution, delivery and performance by such Loan Party of this Amendment have been duly authorized by all necessary
corporate or other organizational action and does not and will not (i) contravene the terms of any of such Loan Party’s Organization
Documents; (ii) conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment
to be made under (A) any Contractual Obligation to which the Company or any other Loan Party is a party or affecting such Person
or the properties of such Person or any of its Restricted Subsidiaries or (B) any order, injunction, writ or decree of any Governmental
Authority or any arbitral award to which the Company or any other Loan Party or its property is subject; or (iii) violate any Law,
except, in the cases of clause (ii) and (iii) as could not reasonably be expected to have a Material Adverse Effect;

 

     

     

    

 

(b)           this Amendment has been duly executed and delivered by each Loan Party, and constitutes a legal, valid and binding obligation
of such Loan Party, enforceable against such Loan Party in accordance with its terms, except as may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws relating to creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law;

 

(c)           the Credit Agreement and the other Loan Documents, after giving effect to this Amendment, constitute legal, valid and binding
obligations of the Company and each of the other Loan Parties, in each case, to the extent party thereto, enforceable against the
Company and each such other Loan Party to the extent party thereto in accordance with their respective terms, except as may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law;

 

(d)           the representations and warranties of each Loan Party contained in Article V of the Credit Agreement and each
other Loan Document are true and correct in all material respects (or, with respect to representations and warranties modified
by materiality standards, in all respects) on and as of the Amendment Effective Date, 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 (or,
with respect to representations and warranties modified by materiality standards, in all respects) as of such earlier date, and
except that for purposes of this clause (c), the representations and warranties contained in Sections 5.05(a) and (b)
of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and
(b) of the Credit Agreement, respectively;

 

(e)           no Default exists either before or after the effectiveness of this Amendment on the Amendment Effective Date.

 

4.             Effective Date.

 

(a)           This Amendment will become effective on the date (the “Amendment Effective Date”) on which the following
conditions precedent are satisfied:

 

(i)             the Administrative Agent and the Lenders shall have received, in form and substance reasonably satisfactory to them, each
of the following:

 

(A)           counterparts
of this Amendment duly executed by (1) each Loan Party, (2) the Administrative Agent, (3) the Lenders necessary to constitute Required
Lenders and (4) the Required Revolving Lenders; and

 

(B)            a
certificate of the chief financial officer or treasurer of the Company certifying that as of the Amendment Effective Date (after
giving effect to transactions contemplated to occur on or prior to the Amendment Effective Date), (1) all of the representations
and warranties in the Credit Agreement and the other Loan Documents are true and correct in all material respects (or, to the extent
any such representation and warranty is modified by a materiality or Material Adverse Effect standard, in all respects) as of such
date (except to the extent that such representations and warranties expressly relate to an earlier date, in which case they shall
be true and correct in all material respects (or, to the extent any such representation and warranty is modified by a materiality
or Material Adverse Effect standard, in all respects) as of such earlier date) and (2) no Default or Event of Default shall have
occurred and be continuing as of, or would result from the occurrence of, the Amendment Effective Date; and

 

    2

     

    

 

(ii)            there shall not have occurred since September 30, 2019 any event or condition that has had or would reasonably be expected
either individually or in the aggregate, to have a Material Adverse Effect;

 

(iii)           all reasonable and documented costs and expenses of BofA Securities and the Administrative Agent (including the reasonable
and documented fees, disbursements and other out-of-pocket charges of counsel for the Administrative Agent), to the extent required
to be paid pursuant to Section 10.04(a) of the Credit Agreement, shall have been paid to the extent that the Company has
received an invoice therefor at least three Business Days prior to the Amendment Effective Date (without prejudice to any post-closing
settlement of such fees, costs and expenses to the extent not so invoiced).

 

(b)           For purposes of determining compliance with the conditions specified in Section 4(a), each Lender that has executed
this Amendment and delivered it to the Administrative Agent shall be deemed to have consented to, approved or accepted, or to be
satisfied with, each document or other matter required under Section 4(a) to be consented to or approved by or acceptable
or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to this Amendment
being deemed effective by the Administrative Agent on the Amendment Effective Date specifying its objection thereto.

 

(c)           From and after the Amendment Effective Date, the Credit Agreement is amended as set forth herein.

 

(d)           Except as expressly amended and/or waived pursuant hereto, the Credit Agreement and each other Loan Document shall remain
unchanged and in full force and effect and each is hereby ratified and confirmed in all respects, and any waiver contained herein
shall be limited to the express purpose set forth herein and shall not constitute a waiver of any other condition or circumstance
under or with respect to the Credit Agreement or any of the other Loan Documents.

 

(e)           The Administrative Agent will notify the Company and the Lenders of the occurrence of the Amendment Effective Date.

 

5.             No Novation; Reaffirmation. Neither the execution and delivery of this Amendment nor the consummation of any other
transaction contemplated hereunder is intended to constitute a novation of the Credit Agreement or of any of the other Loan Documents
or any obligations thereunder. Each Loan Party (a) acknowledges and consents to all of the terms and conditions of this Amendment
(including, without limitation, the amended pages to the Credit Agreement attached hereto as Annex I), (b) affirms all of
its respective obligations under the Loan Documents, and (c) agrees that this Amendment and all documents executed in connection
herewith do not operate to reduce or discharge any Loan Party’s obligations under the Loan Documents.

 

6.             Miscellaneous.

 

(a)           Except as herein expressly amended, all terms, covenants and provisions of the Credit Agreement and each other Loan Document
are and shall remain in full force and effect. All references in any Loan Document to the “Credit Agreement” or “this
Agreement” (or similar terms intended to reference the Credit Agreement) shall henceforth refer to the Credit Agreement as
amended by this Amendment. This Amendment shall be deemed incorporated into, and a part of, the Credit Agreement.

 

    3

     

    

 

(b)           This Amendment shall be binding upon and inure to the benefit of the parties hereto, each other Lender and each other Loan
Party, and their respective successors and assigns.

 

(c)           THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. THIS AMENDMENT
IS FURTHER SUBJECT TO THE PROVISIONS OF SECTIONS 10.14 AND 10.15 OF THE CREDIT AGREEMENT RELATING TO GOVERNING LAW,
JURISDICTION, VENUE, SERVICE OF PROCESS AND WAIVER OF RIGHT TO TRIAL BY JURY, THE PROVISIONS OF WHICH ARE BY THIS REFERENCE INCORPORATED
HEREIN IN FULL.

 

(d)           This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single contract. This Amendment and the other
Loan Documents constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all
previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section
4, this Amendment shall become effective when it shall have been executed by the Administrative Agent and when the Administrative
Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties required
to be a party hereto. Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic
imaging means shall be effective as delivery of a manually executed counterpart of this Amendment. This Amendment may not be amended
except in accordance with the provisions of Section 10.01 of the Credit Agreement.

 

(e)           If any provision of this Amendment or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the
legality, validity and enforceability of the remaining provisions of this Amendment and the other Loan Documents shall not be affected
or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

 

(f)            The Company agrees to pay in accordance with Section 10.04 of the Credit Agreement all reasonable and documented
out-of-pocket expenses incurred by the Administrative Agent and its Affiliates in connection with the preparation, execution, delivery,
administration of this Amendment and the other instruments and documents to be delivered hereunder, including, subject to the limitations
set forth in Section 10.04 of the Credit Agreement, the reasonable and documented fees, charges and disbursements of counsel
to the Administrative Agent with respect thereto and with respect to advising the Administrative Agent as to its rights and responsibilities
hereunder and thereunder.

 

(g)           This Amendment shall constitute a “Loan Document” under and as defined in the Credit Agreement.

 

[Signature Pages Follow.]

 

    4

     

    

 

 

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

 

COMPANY:

 

	 	AECOM
	 	 
	 	 
	 	By:	/s/ Paul Cyril
	 	Name:	Paul Cyril
	 	Title:	Senior Vice President, Corporate Finance & Global Assistant Treasurer

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

BORROWERS:

 

	 	US STAR LP
	 	 	 
	 	By:	AECOM BC 2 Holding ULC, its General Partner
	 	 	 
	 	By:	/s/ Rosalind Liu
	 	Name:	Rosalind Liu
	 	Title:	Director

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	Signed for and on behalf of	 	 
	AECOM AUSTRALIA GROUP 

HOLDINGS PTY LTD by a duly 

appointed attorney	 	 
	in the presence of:	 	 
	 	 	 
	 	 	 
	/s/ Bethany Ware Purkett	 	/s/ Paul Cyril
	
        Bethany Ware Purkett

        Signature of witness
	 	
        Paul Cyril

        Signature of attorney (I have no notice of revocation of the
        power of attorney under which I sign this document)

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	GUARANTORS:

		AECOM E&C HOLDINGS, INC.

		AECOM NUCLEAR LLC

		AECOM N&E TECHNICAL SERVICES LLC

		WGI GLOBAL INC.

		URS CORPORATION – NEW YORK

		EDAW, INC.

		AECOM GLOBAL II, LLC

		WASHINGTON DEMILITARIZATION COMPANY, LLC

		AECOM ENERGY & CONSTRUCTION, INC.

		CLEVELAND WRECKING COMPANY

		RUST CONSTRUCTORS INC.

 

	 	By:	/s/ Charles Szurgot
	 	Name:	Charles Szurgot
	 	Title:	Assistant Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	GUARANTORS:

	 	AECOM INTERNATIONAL, INC.

		URS OPERATING SERVICES, INC.

		URS RESOURCES, LLC

		URS CORPORATION – OHIO

		AMAN ENVIRONMENTAL CONSTRUCTION, INC.

		URS CORPORATION SOUTHERN

		AECOM INTERNATIONAL PROJECTS, INC.

		E.C. DRIVER & ASSOCIATES, INC.

		URS CONSTRUCTION SERVICES

		B.P. BARBER & ASSOCIATES, INC.

		FORERUNNER CORPORATION

		URS ALASKA, LLC

		URS CORPORATION – NORTH CAROLINA

		AECOM TECHNICAL SERVICES, INC.

		AECOM C&E, INC.

		THE EARTH TECHNOLOGY
                                         CORPORATION (USA)

		URS GROUP, INC.

		URS HOLDINGS, INC.

		URS CORPORATION

		URS GLOBAL HOLDINGS, INC.

 

		By:	/s/ Charles Szurgot
	 	Name:	Charles Szurgot
	 	Title:	Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

 

	 	GUARANTORS:
	 	TISHMAN CONSTRUCTION CORPORATION
	 	TISHMAN CONSTRUCTION CORPORATION OF NEW YORK
	 	 
	 	 
	 	By:	 /s/ Judith Herman
	 	Name:	Judith Herman
	 	Title:	Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	GUARANTORS:
	 	AECOM USA, INC.
	 	 
	 	 
	 	By:	 /s/ Robert K. Orlin
	 	Name:	 Robert K. Orlin
	 	Title:	 Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	GUARANTORS:
	 	AECOM GREAT LAKES, INC.
	 	 
	 	 
	 	By:	 /s/ Michael Klerer
	 	Name:	 Michael Klerer
	 	Title:	Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	GUARANTORS:
	 	WASHINGTON GOVERNMENT ENVIRONMENTAL SERVICES COMPANY LLC
	 	 
	 	 
	 	By:	 /s/ Mark Esposito
	 	Name:	 Mark Esposito
	 	Title:	Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	GUARANTORS:
	 	URS FS COMMERCIAL OPERATIONS, INC.
	 	URS FEDERAL SERVICES INTERNATIONAL, INC.
	 	EG&G DEFENSE MATERIALS, INC.
	 	LEAR SIEGLER LOGISTICS INTERNATIONAL, INC.
	 	 
	 	 
	 	By:	 /s/ Stuart Young
	 	Name:	Stuart Young
	 	Title:	Secretary

 

AECOM

Signature Pages 

Amendment No.7
to Credit Agreement

 

     

     

    

 

 

	 	GUARANTORS:
	 	AECOM GOVERNMENT SERVICES, INC.
	 	AECOM NATIONAL SECURITY PROGRAMS, INC.
	 	AECOM SPECIAL MISSIONS SERVICES, INC.
	 	MT HOLDING CORP. 
	 	MCNEIL SECURITY, INC.
	 	
	 	 	 
	 	By:	/s/ Terence Raley
	 	Name:	Terence Raley
	 	Title:	Secretary
	 	 	 
	 	 	 
	 	AECOM MANAGEMENT SERVICES, INC.
	 	 	 
	 	 	 
	 	By:	/s/ Terence Raley
	 	Name:	Terence Raley
	 	Title:	Assistant Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	GUARANTORS:
	 	THE HUNT CORPORATION
	 	HUNT CONSTRUCTION GROUP, INC.
	 	 	 
	 	By:	/s/ Ty Weiss
	 	Name:	Ty Weiss
	 	Title:	Secretary

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	BANK OF AMERICA, N.A., as Administrative Agent
	 	 	 
	 	By:	/s/ Maurice Washington
	 	Name:	Maurice Washington
	 	Title:	Vice President

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	bank of america, n.a., as a Lender, L/C Issuer and Swing Line Lender
	 	 
	 	By:	/s/ Mukesh Singh
	 	Name:	Mukesh Singh
	 	Title:	Director

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	EXECUTED by
    Leonidas Zygouras	)	 
	as attorney for BANK OF AMERICA,	)	 
	N.A. Australian Branch under power	)	 
	of attorney dated 12 August 2019	)	 
	in the presence of:	)	 
	 	)	 
	 	)	 
	/s/ Helmi Yuselvia 	)	 
	Signature of witness	)	/s/ Leonidas Zygouras
	 	)

                                   )
	By executing this deed the attorney states that the attorney has received no notice of revocation of the power of attorney
	Helmi Yuselvia	)	
	Name of witness (block letters)	)	
	 	)	

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

 

	 	BMO Harris Bank N.A., as a Lender
	 	 
	 	 	 
	 	By:	/s/ John Armstrong
	 	Name:	John Armstrong
	 	Title:	Managing Director
	 	 
	 	 
	 	Bank of Montreal, as a Lender
	 	 
	 	 	 
	 	By:	/s/ Helen Alvarez-Hernandez
	 	Name:	Helen Alvarez-Hernandez
	 	Title:	Managing Director

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	THE BANK OF NOVA SCOTIA, as a Lender and an L/C Issuer
	 	 
	 	 	 
	 	By:	/s/ Michelle C. Phillips
	 	Name:	Michelle C. Phillips
	 	Title:	Managing Director

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	BARCLAYS BANK PLC., as a Lender
	 	 
	 	 	 
	 	By:	/s/ Patricia Oreta
	 	Name:	Patricia Oreta
	 	Title:	Director
	 	Executed in New York

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	BBVA USA fka Compass Bank, as a Lender
	 	 
	 	 	 
	 	By:	/s/ Aaron Lloyd
	 	Name:	Aaron Lloyd
	 	Title:	Director

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	BNP PARIBAS, as a Lender and an L/C Issuer
	 	 
	 	 	 
	 	By:	/s/ Pierre Nicholas Rogers
	 	Name:	Pierre Nicholas Rogers
	 	Title:	Managing Director
	 	 
	 	 	 
	 	By:	/s/ Joseph Mack
	 	Name:	Joseph Mack
	 	Title:	Vice President

 

AECOM

Signature Pages 

Amendment No.7 to Credit Agreement

 

     

     

    

 

	 	Capital One, National Association, as a Lender
	 	 	 
	 	 	 
	 	By:	 /s/ Elizabeth Masciopinto
	 	Name:	 Elizabeth Masciopinto
	 	Title:	 Senior Director

 

     

     

    

 

	 	CATHAY BANK, as a Lender
	 	 	 
	 	 	 
	 	By: 	/s/ Dean Kawai
	 	Name: 	Dean Kawai
	 	Title:	 Senior Director

 

     

     

    

 

	 	CITIBANK, N.A., as a Lender
	 	 	 
	 	 	 
	 	By:	 /s/ Brian Reed
	 	Name:	 Brian Reed
	 	Title: 	Vice President

 

     

     

    

 

	 	Credit Agricole Corporate and Investment Bank,

 as a Lender and an L/C Issuer
	 	 
	 	 
	 	By:	 /s/ Gordon Yip 
	 	Name:	 Gordon Yip
	 	Title: 	Director
	 	 	 
	 	 	 
	 	By:	 /s/ Gary Herzog
	 	Name: 	Gary Herzog
	 	Title:	 Managing Director

 

 

     

     

    

 

	 	Crédit Industrial et Commercial, New York Branch, as a Lender
	 	 	 
	 	 	 
	 	By:	 /s/ Clifford Abramsky
	 	Name:	 Clifford Abramsky
	 	Title:	 Managing Director
	 	 	 
	 	 	 
	 	By:	 /s/ Gary Weiss
	 	Name: 	Gary Weiss
	 	Title: 	Managing Director

 

     

     

    

 

	 	Fifth Third Bank, National Association, as a Lender
	 	 	 
	 	 	 
	 	By:	 /s/ Justin Brauer
	 	Name:	 Justin Brauer
	 	Title:	 Director

 

 

     

     

    

 

	 	THE GOVERNOR ANC COMPANY OF THE BANK OF IRELAND, as a Lender
	 	 	 
	 	 	 
	 	By:	 /s/ Ford Young
	 	Name:	 Ford Young
	 	Title: 	Managing Director
	 	 	 
	 	 	 
	 	By: 	/s/ James Finn
	 	Name: 	James Finn
	 	Title: 	Director

 

     

     

    

 

	 	HSBC Bank Canada, as a Lender
	 	 	 
	 	 	 
	 	By:	 /s/ Andrew Salvoni
	 	Name: 	Andrew Salvoni
	 	Title: 	Director
	 	 	 
	 	 	 
	 	By: 	/s/ Caterina Gaudio
	 	Name: 	Caterina Gaudio
	 	Title: 	Associate

 

     

     

    

 

	 	HSBC Bank USA NA, as a Lender
	 	 	 
	 	By: 	/s/ Patrick Mueller
	 	Name: 	Patrick Mueller
	 	Title: 	Managing Director

 

     

     

    

 

	 	Industrial and Commercial Bank of China Limited, New York Branch,
	 	as a Lender
	 	 	 
	 	By:	 /s/ Christine Cai
	 	Name:	 Christine Cai
	 	Title: 	Vice President
	 	 	 
	 	 	 
	 	By: 	/s/ Haiyao Su
	 	Name:	 Haiyao Su
	 	Title: 	Executive Director

 

     

     

    

 

 

	 	JPMORGAN CHASE BANK, N.A., as a Lender
	 	 
	 	By:	/s/ Ling Li
	 	Name:	Ling Li
	 	Title:	Executive Director

 

     

     

    

 

	 	Mizuho Bank, Ltd., as a Lender
	 	 
	 	By:	/s/ Donna DeMagistris
	 	Name:	Donna DeMagistris
	 	Title:	Authorized Signatory

 

     

     

    

 

	 	MUFG Union Bank N.A., as a Lender
	 	 
	 	By:	/s/ Susan Swerdloff
	 	Name:	Susan Swerdloff
	 	Title:	Managing Director

 

     

     

    

 

	 	PNC BANK, NATIONAL ASSOCIATION, as a Lender
	 	 
	 	By:	/s/ Alex Mack
	 	Name:	Alex Mack
	 	Title:	Vice President

 

     

     

    

 

	 	Sumitomo Mitsui Banking Corporation, as a Lender
	 	 
	 	By:	/s/ Michael Maguire
	 	Name:	Michael Maguire
	 	Title:	Managing Director

 

     

     

    

 

 

 

	 	TRUIST BANK, as a successor by merger to SunTrust Bank, as a Lender
	 	 
	 	By:	/s/ Carlos Cruz
	 	Name:	Carlos Cruz
	 	Title:	 Director

 

     

     

    

 

	 	TD Bank N.A., as a Lender
	 	 
	 	By:	/s/ Craig Welch
	 	Name:	 Craig Welch
	 	Title:	 Senior Vice President

 

     

     

    

 

	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender
	 	 
	 	By:	/s/ Glenn Leyrer
	 	Name:	Glenn Leyrer
	 	Title:	 Vice President

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
	 	 
	 	By:	/s/ Peter R. Martinets
	 	Name:	Peter R. Martinets
	 	Title:	 Managing Director

 

     

     

    

 

ANNEX I

 

[Amended Pages to Credit Agreement Attached]

 

     

     

    

 

	

        Published
        CUSIP Number: 00766WAJ2

        Revolving
        Loan Facility CUSIP Number: 00766WAK9

        Term
        A US Loan Facility CUSIP Number: 00766WAQ6

        Term
        A CAD Loan Facility CUSIP Number: 00766WAR4

        Term
        A AUD Loan Facility CUSIP Number: 00766WAS2

        Term
        B Loan Facility CUSIP Number: 00766WAT0

	
         

         

	
        SYNDICATED
        FACILITY AGREEMENT

        (as
        amended through Amendment No. 67
        to Credit Agreement dated as of November
        13, 2018January 28, 2020)

         

	Dated as of October 17, 2014
	among
	
        AECOM

        and

        CERTAIN
        SUBSIDIARIES OF AECOM,

         

	as Borrowers,
	 
	BANK OF AMERICA, N.A.,

as Administrative Agent, Swing Line Lender and

an L/C Issuer,
	and
	
        The
        Other Lenders Party Hereto

         

        BMO
        HARRIS BANK N.A.,

        CAPITAL
        ONE, NATIONAL ASSOCIATION,

        CITIBANK,
        N.A.,

        BBVA
        COMPASS,

        FIFTH
        THIRD BANK,

        HSBC
        BANK USA, NATIONAL ASSOCIATION,

        MIZUHO
        BANK, LTD.,

        MUFG
        UNION BANK, N.A.,

        SUNTRUST
        BANK,

        TD
        BANK, N.A.,

        WELLS
        FARGO BANK, NATIONAL ASSOCIATION,

        as
        Co-Documentation Agents

	 
	 
	
        BANK
        OF AMERICA, N. A.,

        JPMORGAN
        CHASE BANK, N.A.,

        THE
        BANK OF NOVA SCOTIA,

        BNP
        PARIBAS SECURITIES CORP., and

        CREDIT
        AGRICOLE CORPORATE AND INVESTMENT BANK, 

        as
        Joint Lead Arrangers and Joint Bookrunners

 

     

     

    

 

TABLE
OF CONTENTS

 

	ARTICLE
    I	DEFINITIONS
    AND ACCOUNTING TERMS 	1

 

		1.01	Defined
                                         Terms	1

 

		1.02	Other
                                         Interpretive Provisions	5355

 

		1.03	Accounting
                                         Terms	5456

 

		1.04	Rounding	5557

 

		1.05	Exchange
                                         Rates; Currency Equivalents	5557

 

		1.06	Additional
                                         Alternative Currencies	5658

 

		1.07	Change
                                         of Currency	5759

 

		1.08	Times
                                         of Day	5759

 

		1.09	Letter
                                         of Credit Amounts	5759

 

		1.10	Guaranteed
                                         Amounts	5759

 

	ARTICLE
    II	the
    COMMITMENTS and Credit Extensions	5760

 

		2.01	The
                                         Loans	5760

 

		2.02	Borrowings,
                                         Conversions and Continuations of Loans	5961

 

		2.03	Letters
                                         of Credit	6163

 

		2.04	Swing
                                         Line Loans	7073

 

		2.05	Prepayments	7375

 

		2.06	Termination
                                         or Reduction of Commitments	7780

 

		2.07	Repayment
                                         of Loans	7881

 

		2.08	Interest	7982

 

		2.09	Fees	8083

 

		2.10	Computation
                                         of Interest and Fees; Retroactive Adjustments of Applicable Rate	8183

 

		2.11	Evidence
                                         of Debt	8184

 

		2.12	Payments
                                         Generally; Administrative Agent’s Clawback	8284

 

		2.13	Sharing
                                         of Payments by Lenders	8386

 

		2.14	Designation
                                         of Unrestricted and Restricted Subsidiaries	8487

 

		2.15	Designated
                                         Borrowers	8588

 

		2.16	Increase
                                         in Commitments	8689

 

		2.17	Cash
                                         Collateral	9093

 

		2.18	Defaulting
                                         Lenders	9194

 

    i 

     

    

 

	ARTICLE
    III	TAXES,
    YIELD PROTECTION AND ILLEGALITY	9496

 

		3.01	Taxes	9496

 

		3.02	Illegality	100102

 

		3.03	Inability
                                         to Determine Rates	100103

 

		3.04	Increased
                                         Costs; Reserves on Eurocurrency Rate Loans	102105

 

		3.05	Compensation
                                         for Losses	104107

 

		3.06	Mitigation
                                         Obligations; Replacement of Lenders	104107

 

		3.07	Survival	105108

 

	ARTICLE
                                         IV	CONDITIONS PRECEDENT
TO Credit Extensions	105108

 

		4.01	Conditions of Initial Credit Extension	105108

 

		4.02	Conditions to All Credit Extensions	108111

 	ARTICLE
                                         V	REPRESENTATIONS
    AND WARRANTIES	109111

 

		5.01	Existence, Qualification and Power	109111

 

		5.02	Authorization; No Contravention	109112

 

		5.03	Governmental Authorization; Other Consents	109112

 

		5.04	Binding Effect	109112

 

		5.05	Financial Statements; No Material Adverse Effect	110112

 

		5.06	Litigation	110113

 

		5.07	No Default	111113

 

		5.08	Ownership of Property; Liens	111114

 

		5.09	Environmental Compliance	111114

 

		5.10	Insurance	111114

 

		5.11	Taxes	111114

 

		5.12	ERISA Compliance	111114

 

		5.13	Subsidiaries; Equity Interests; Loan Parties	112115

 

		5.14	Margin Regulations; Investment Company Act	112115

 

		5.15	Disclosure	112115

 

		5.16	Compliance with Laws	113116

 

		5.17	Intellectual Property; Licenses, Etc	113116

 

		5.18	Solvency	113116

 

		5.19	Sanctions	113116

 

		5.20	Anti-Corruption Laws	113116

 

    ii 

     

    

 

		5.21	Collateral Documents	113116

 

		5.22	Representations as to Foreign Obligors	113116

 

		5.23	EEA Financial Institutions	114117

 

		5.24	Beneficial
                                         Ownership	117

 	ARTICLE
                                         VI	AFFIRMATIVE
    COVENANTS	114117

 

		6.01	Financial Statements	115118

 

		6.02	Certificates; Other Information	116119

 

		6.03	Notices	117120

 

		6.04	Payment of Obligations	118121

 

		6.05	Preservation of Existence, Etc	118121

 

		6.06	Maintenance of Properties	118122

 

		6.07	Maintenance of Insurance	119122

 

		6.08	Compliance with Laws	119122

 

		6.09	Books and Records	119122

 

		6.10	Inspection Rights	119122

 

		6.11	Use of Proceeds	120123

 

		6.12	Collateral and Guarantee Requirement; Collateral Information	120123

 

		6.13	Compliance with Environmental Laws	121124

 

		6.14	Further Assurances	121124

 

		6.15	[Reserved.]	122125

 

		6.16	FCPA; Sanctions	122125

 

		6.17	Post-Closing Requirements	122125

 

		6.18	Approvals and Authorizations	122125

 	ARTICLE
                                         VII	NEGATIVE
    COVENANTS	122125

 

		7.01	Liens	122125

 

		7.02	Indebtedness	124127

 

		7.03	Investments	127130

 

		7.04	Fundamental Changes	128132

 

		7.05	Dispositions	129133

 

		7.06	Restricted Payments	130135

 

		7.07	Change in Nature of Business	132136

 

		7.08	Transactions with Affiliates	132136

 

    iii 

     

    

 

		7.09	Burdensome Agreements	132137

 

		7.10	Use of Proceeds	133137

 

		7.11	Financial Covenants	133137

 

		7.12	Sanctions	133138

 

		7.13	Changes in Fiscal Year	133138

 

		7.14	Anti-Corruption Laws	133138

 	ARTICLE
                                         VIII	EVENTS
    OF DEFAULT AND REMEDIES	134138

 

		8.01	Events of Default	134138

 

		8.02	Remedies upon Event of Default	136140

 

		8.03	Application of Funds	137142

 

	ARTICLE
                                         IX	ADMINISTRATIVE AGENT	138143

 

		9.01	Appointment and Authority	138143

 

		9.02	Rights as a Lender	139143

 

		9.03	Exculpatory Provisions	139143

 

		9.04	Reliance by Administrative Agent	140144

 

		9.05	Delegation of Duties	140145

 

		9.06	Resignation of Administrative Agent	140145

 

		9.07	Non-Reliance on Administrative Agent and Other Lenders	141146

 

		9.08	No Other Duties, Etc	142146

 

		9.09	Administrative Agent May File Proofs of Claim; Credit Bidding	142147

 

		9.10	Collateral and Guaranty Matters	143148

 

		9.11	Secured Cash Management Agreements, Secured Hedge Agreements and Secured
Performance Letters of Credit	144148

 

		9.12	Lender ERISA Representation	144149

 	ARTICLE
                                         X	MISCELLANEOUS	146151

 

		10.01	Amendments, Etc	146151

 

		10.02	Notices; Effectiveness; Electronic Communications	148153

 

		10.03	No Waiver; Cumulative Remedies; Enforcement	150155

 

		10.04	Expenses; Indemnity; Damage Waiver	151156

 

		10.05	Payments Set Aside	153158

 

		10.06	Successors and Assigns	153158

 

		10.07	Treatment of Certain Information; Confidentiality	158163

 

    iv 

     

    

 

		10.08	Right of Setoff	158163

 

		10.09	Interest Rate Limitation	159164

 

		10.10	Counterparts; Integration; Effectiveness	159164

 

		10.11	Survival of Representations and Warranties	159164

 

		10.12	Severability	160165

 

		10.13	Replacement of Lenders	160165

 

		10.14	Governing Law; Jurisdiction; Etc	161165

 

		10.15	WAIVER OF JURY TRIAL	161166

 

		10.16	No Advisory or Fiduciary Responsibility	162167

 

		10.17	Electronic Execution of Assignments and Certain Other Documents	162167

 

		10.18	USA PATRIOT Act	163167

 

		10.19	Judgment Currency	163168

 

		10.20	Release and Reinstatement of Collateral	163168

 

		10.21	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	164169

 

		10.22	Australian Code of Banking Practice	164169

 

		10.23	Liability of Certain Loan Parties	164169

 

    v 

     

    

 

branch for Loans denominated in Canadian Dollars), office or
Affiliate of it, or any successor administrative agent. 

 

“Administrative
Agent’s Office” means, with respect to any currency, the Administrative Agent’s address and, as appropriate,
account as set forth on Schedule 10.02 with respect to such currency, or such other address or account with respect to such
currency as the Administrative Agent may from time to time notify the Company and the Lenders.

 

“Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied from time to time by the Administrative Agent.

 

“AECOM Capital”
means AECOM Capital, Inc. and all existing or newly formed entities engaged in any similar line of business to AECOM Capital, Inc.,
including infrastructure public-private partnership, design-build-finance, real estate investment, development and related assets.

 

“Affiliate”
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or
is Controlled by or is under common Control with the Person specified.

 

“Aggregate
Commitments” means the Commitments of all the Lenders.

 

“Aggregate
Revolving Credit Commitments” means the Revolving Credit Commitments of all the Revolving Credit Lenders, subject to
adjustment pursuant to the provisions of this Agreement (including Sections 2.06 and 2.16).

 

“Alternative
Currency” means each of Euro, Sterling, Yen, Canadian Dollars, Australian Dollars, New Zealand Dollars, HKD, Swiss Francs
and each other currency (other than Dollars) that is approved in accordance with Section 1.06.

 

“Alternative
Currency Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof
in the applicable Alternative Currency as determined by the Administrative Agent or the applicable L/C Issuer, as the case may
be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of
such Alternative Currency with Dollars.

 

“Alternative
Currency Sublimit” means an amount equal to the lesser of the Aggregate Revolving Credit Commitments and $300,000,000.
The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Revolving Credit Commitments.

 

“Amendment
No. 2 Effective Date” means December 22, 2015.

 

“Amendment
No. 3 Effective Date” means September 29, 2016.

 

“Amendment
No. 4 Effective Date” means March 31, 2017.

 

“Amendment
No. 5 Effective Date” means March 13, 2018.

 

“Amendment
No. 6 Effective Date” means November 13, 2018.

 

“Amendment
No. 7 Effective Date” means January 28, 2020.

 

    2

     

    

 

“Availability
Period” means, in respect of the Revolving Credit Facility, the period from and including the Closing Date to the earliest
of (a) the Maturity Date for the Revolving Credit Facility, (b) the date of termination of all of the Revolving Credit Commitments
pursuant to Section 2.06, and (c) the date of termination of the commitment of each Revolving Credit Lender to make Revolving
Credit Loans and of the obligation of the applicable L/C Issuers to make L/C Credit Extensions pursuant to Section 8.02.

 

“Bail-In Action”
means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability
of an EEA Financial Institution.

 

“Bail-In Legislation”
means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of
the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the
EU Bail-In Legislation Schedule.

 

“Bank of America”
means Bank of America, N.A. and its successors.

 

“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
rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”,
and (c) the Eurocurrency Rate (calculated in accordance with clause (vii) of the definition of Eurocurrency Rate) plus
1.00%. 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.

 

“Base Rate
Loan” means a Revolving Credit Loan, a Swing Line Loan, a Term A US Loan or a Term B Loan that bears interest based
on the Base Rate. All Base Rate Loans shall be denominated in Dollars.

 

“BBSY”
has the meaning ascribed thereto in the definition of “Eurocurrency Rate”.

 

“Beneficial
Ownership Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation,
if any.

 

“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”.

 

“BMO”
means Bank of Montreal and its successors.

 

“BNP Paribas”
means BNP Paribas and its successors.

 

“BofA
Securities” means BofA Securities, Inc., successor to Merrill Lynch, Pierce, Fenner & Smith Incorporated.

 

    6

     

    

 

“Material
Commercial Tort Claim” means any commercial tort claim with respect to which a Loan Party is the plaintiff or a beneficiary
and that makes a claim for damages, or other claim for judgment, in an amount greater than or equal to $10,000,000.

 

“Material
Guarantor” means any Guarantor that is itself a Significant Subsidiary pursuant to clause (a) or (b) of the definition
thereof (without giving effect to the aggregation in the proviso to such definition).

 

“Maturity
Date” means (a) with respect to the Revolving Credit Facility, March 13, 2023, (b) with respect to the Term A US Facility,
March 13, 2021, (c) with respect to the Term A CAD Facility, March 13, 2023, (d) with respect to the Term A AUD Facility, March
13, 2023 and (e) with respect to the Term B Facility, March 13, 2025; provided, however, that, in each case, if such
date is not a Business Day, the Maturity Date shall be the next preceding Business Day.

 

“Maximum Increase
Amount” means, on and after the Amendment No. 5 Effective Date, the sum of (a) $500,000,000 plus (b) any
additional amount so long as, after giving effect to such proposed Incremental Increase (and with respect to any Revolving Credit
Increase, measured assuming any such Revolving Credit Increase is fully drawn), any repayment of other Indebtedness in connection
therewith and any other acquisition, Disposition, incurrence of Indebtedness (including any substantially simultaneous Incremental
Increases), retirement of Indebtedness and all appropriate pro forma adjustment events (including events occurring subsequent
to the end of the applicable test period and on or prior to the date of such incurrence), the Consolidated Senior Secured Leverage
Ratio is not greater than 2.75 to 1.00.

 

“Measurement
Period” means, at any date of determination, the most recently completed four fiscal quarters of the Company.

 

“Minimum Collateral
Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances provided
to reduce or eliminate Fronting Exposure during the existence of a Defaulting Lender, an amount equal to 102% of the Fronting Exposure
of the applicable L/C Issuer with respect to Letters of Credit issued and outstanding at such time, (ii) with respect to Cash Collateral
consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.17(a)(i), (a)(ii)
or (a)(iii), an amount equal to 102% of the Outstanding Amount of all L/C Obligations, and (iii) otherwise, an amount determined
by the Administrative Agent and the applicable L/C Issuer in their sole discretion.

 

“Minority
Investment” means an Investment by the Company or any Restricted Subsidiary in the Equity Interests of another Person
(other than the Company or any Restricted Subsidiary) whose primary business at such time is the same as that of the Company that
results in the direct ownership by the Company or a Restricted Subsidiary of less than 50% (or in the case of the Investment described
in Schedule 1.01(a), of up to 50%) of the outstanding Equity Interests of such other Person, irrespective of whether the
board of directors (or other governing body) of such Person has approved such Investment; provided that a “Minority
Investment” shall not include (a) Investments in Joint Ventures existing on the Closing Date, (b) Investments in
any securities received in satisfaction or partial satisfaction from financially troubled account debtors or (c) Investments
made or deemed made as a result of the receipt of non-cash consideration in connection with Dispositions otherwise permitted hereunder.

 

“MLPFS”
means Merrill Lynch, Pierce, Fenner & Smith Incorporated and any successor thereto, including
BofA Securities.

 

“Moody’s”
means Moody’s Investors Service, Inc. and any successor thereto.

 

“Mortgage”
means a mortgage, deed of trust, assignment of leases and rents or other security document executed by a Loan Party that purports
to grant a Lien to the Administrative Agent (or a trustee

 

    36

     

    

 

for the benefit of the Administrative Agent) for the benefit of the Secured
Parties in any Mortgaged Properties, in form and substance satisfactory to the Administrative Agent.

 

“Mortgaged
Property” means any owned real property of a Loan Party with a fair market value of $10,000,000 or greater, as determined
by the Company in its reasonable discretion, listed on Schedule 1.01(b) as of the Closing Date, and any other owned parcel
of real property of a Loan Party that is or becomes, or is required to become, encumbered by a Mortgage in favor of the Administrative
Agent in accordance with the terms of this Agreement.

 

“MS
Disposition” means the Disposition by the Company of its management services businesses to an unrelated third party, pursuant
to that certain Purchase and Sale Agreement, dated as of October 12, 2019, by and between AECOM, a Delaware corporation, and Maverick
Purchaser Sub, LLC, a Delaware limited liability company, as amended, amended and restated, supplemented or otherwise modified
from time to time.

 

“Multiemployer
Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Company
or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated
to make contributions as to which the Company or any ERISA Affiliate could have any liability (contingent or otherwise).

 

“Multiple
Employer Plan” means a Plan which has two or more contributing sponsors (including the Company or any ERISA Affiliate)
at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA.

 

“Net Cash
Proceeds” means:

 

(a)       with
respect to any Disposition by the Company or any of its Restricted Subsidiaries, or any Extraordinary Receipt received or paid
to the account of the Company or any of its Restricted Subsidiaries, the excess, if any, of (i) the sum of cash and Cash Equivalents
received in connection with such transaction (including any cash or Cash Equivalents received by way of deferred payment pursuant
to, or by monetization of, a note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal
amount of any Indebtedness that is secured by the applicable asset and that is required to be repaid in connection with such transaction
(other than Indebtedness under the Loan Documents), (B) the actual out-of-pocket expenses incurred or payable by the Company or
such Restricted Subsidiary to third parties in connection with such transaction and (C) income taxes reasonably estimated to be
actually payable within two years of the date of the relevant transaction as a result of any gain recognized in connection therewith;
provided that, if the amount of any estimated taxes pursuant to subclause (C) exceeds the amount of taxes actually required
to be paid in cash in respect of such Disposition, the aggregate amount of such excess shall constitute Net Cash Proceeds;

 

(b)       in
the case of any Recovery Event, the aggregate amount of cash proceeds of insurance, condemnation awards and other compensation
(excluding proceeds constituting business interruption insurance or other similar compensation for loss of revenue) received by
the Person whose property was subject to such Recovery Event in respect of such Recovery Event net of (A) fees and expenses
incurred by or on behalf of the Borrower or any Restricted Subsidiary in connection with recovery thereof, (B) repayments
of Indebtedness (other than Indebtedness hereunder) to the extent secured by a Lien on such property that is permitted by the
Loan Documents, and (C) any Taxes paid or payable by or on behalf of the Borrower or any Restricted Subsidiary in respect
of the amount so recovered (after application of all credits and

 

    37

     

    

 

Company in writing to the
Administrative Agent), and (C) in the case of Dispositions by AECOM Capital or any Restricted Subsidiary of AECOM Capital,
within two years after receipt of such Net Cash Proceeds such reinvestment shall have been consummated; and provided
further, that any Net Cash Proceeds not subject to such definitive agreement or so reinvested shall be immediately
applied to the prepayment of the Loans as set forth in this Section 2.05(b)(ii). Notwithstanding the foregoing, if the
Company or any of its Restricted Subsidiaries realizes any Net Cash Proceeds resulting from a Non-Core Asset Disposition or
the MS Disposition, the Company shall prepay an aggregate principal amount of Loans equal to 100% of the Net Cash
Proceeds received therefrom immediately uponno
later than three (3) Business Days following receipt thereof by such Person (such prepayments to be applied as set
forth in clauses (v) and (other than in respect of the MS
Disposition) (viii) below), without regard to the foregoing $50,000,000 threshold or the reinvestment
provisions set forth in this clause (ii).

 

(iii)            
Upon the occurrence of a Recovery Event with respect to the Company or any of its Restricted Subsidiaries which, in any
such case, results in the realization by such Person of Net Cash Proceeds, the Company shall prepay an aggregate principal amount
of Loans equal to 100% of the Net Cash Proceeds received therefrom in excess of $50,000,000 in the aggregate for the Net Cash Proceeds
received from all such Recovery Events during the immediately preceding twelve month period immediately upon receipt thereof by
such Person (such prepayments to be applied as set forth in clauses (v) and (viii) below); provided that,
with respect to any Net Cash Proceeds realized under a Recovery Event described in this Section 2.05(b)(iii), at the election
of the Company (as notified by the Company to the Administrative Agent within 45 days following the date of such Recovery Event),
and so long as no Event of Default shall have occurred and be continuing, the Company or such Restricted Subsidiary may reinvest
all or any portion of such Net Cash Proceeds in the replacement or restoration of any properties or assets in respect of which
such Net Cash Proceeds were paid or operating assets so long as (A) within 365 days after receipt of such Net Cash Proceeds, such
reinvestment shall have been consummated (or a definitive agreement to so reinvest shall have been executed), (B) if a definitive
agreement (including, without limitation, a construction agreement) to so reinvest has been executed within such 365-day period,
then such reinvestment shall have been consummated within 180 days after such 365-day period (in each case, as certified by the
Company in writing to the Administrative Agent), and (C) in the case of Recovery Events with respect to AECOM Capital or any Restricted
Subsidiary of AECOM Capital, within two years after receipt of such Net Cash Proceeds such reinvestment shall have been consummated;
and provided further, that any Net Cash Proceeds not subject to such definitive agreement or so reinvested shall be immediately
applied to the prepayment of the Loans as set forth in this Section 2.05(b)(iii).

 

(iv)              Upon
the incurrence or issuance by the Company or any of its Restricted Subsidiaries of any Indebtedness (other than Indebtedness
expressly permitted to be incurred or issued pursuant to Section 7.02), the Company shall prepay an aggregate
principal amount of Loans equal to 100% of all Net Cash Proceeds received therefrom immediately upon receipt thereof by the
Company or such Restricted Subsidiary (such prepayments to be applied as set forth in clauses (v) and (viii)
below).

 

(v)               
Each prepayment of Loans pursuant to the foregoing provisions of this Section 2.05(b) shall be applied, first,
ratably to each of the Term A US Facility, the Term A CAD Facility, the Term A AUD Facility, and the Term B Facility and to the
principal repayment installments thereof in direct order of maturity to the next four principal repayment installments of the applicable
Term Facility (and, to the extent provided in the definitive loan documentation

 

    	 	79	 

     

    

 

therefor in accordance with
Section 2.16(a)(v)(A), of any Incremental Term Loans) and, thereafter, to the remaining principal repayment installments
of the applicable Term Facility (and, to the extent provided in the definitive loan documentation therefor in accordance with
Section 2.16(a)(v)(A), of any Incremental Term Loans) on a pro rata basis and, second, to the Revolving Credit Facility
(without permanent reduction of the Revolving Credit Commitments) in the manner set forth in clause (viii) of this Section
2.05(b). Notwithstanding the foregoing, each prepayment of Loans made with Net Cash Proceeds resulting from Dispositions pursuant
to Section 2.05(b)(ii) shall be applied, first, ratably to each of the Term A US Facility and the Term B Facility
(and, to the extent provided in the definitive loan documentation therefor in accordance with Section 2.16(a)(v)(A), any
Incremental Term Loans) on a pro rata basis, second, ratably to each of the Term A CAD Facility and the Term A AUD Facility
(and, to the extent provided in the definitive loan documentation therefor in accordance with Section 2.16(a)(v)(A), any Incremental
Term Loans) on a pro rata basis and, third, to the Revolving Credit Facility (without permanent reduction of the Revolving
Credit Commitments) in the manner set forth in clause (viii) of this Section 2.05(b), provided
that notwithstanding anything to the contrary provided herein, no prepayment of the Revolving Credit Facility shall be required
to be made with any Net Cash Proceeds resulting from the MS Disposition. Subject to Section 2.18, such prepayments
shall be paid to the Lenders in accordance with their respective Applicable Percentages in respect of the relevant Facilities.

 

(vi)             
If the Administrative Agent notifies the Company at any time that the Total Revolving Credit Outstandings (that are not
Cash Collateralized by the Company or another Borrower) at such time exceed an amount equal to 105% of the Aggregate Revolving
Credit Commitments then in effect, then, within five Business Days after receipt of such notice, the Company shall prepay Revolving
Credit Loans and/or Swing Line Loans and/or the Company shall Cash Collateralize the L/C Obligations under the Revolving Credit
Facility in an aggregate amount sufficient to reduce the Total Revolving Credit Outstandings (that are not Cash Collateralized
by the Company or another Borrower) as of such date of payment to an amount not to exceed 100% of the Aggregate Revolving Credit
Commitments then in effect; provided, however, that, subject to the provisions of Section 2.17(a), the Company
shall not be required to Cash Collateralize the L/C Obligations under the Revolving Credit Facility pursuant to this Section
2.05(b)(vi) unless after the prepayment in full of the Revolving Credit Loans and Swing Line Loans the Total Revolving Credit
Outstandings exceed the Aggregate Revolving Credit Commitments then in effect. The Administrative Agent may, at any time and from
time to time after the initial deposit of such Cash Collateral, request that additional Cash Collateral be provided in order to
protect against the results of exchange rate fluctuations.

 

(vii)           
If the Administrative Agent notifies the Company at any time that the Outstanding Amount of all Revolving Credit Loans denominated
in Hong Kong Dollars or New Zealand Dollars at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then
in effect, then, within five Business Days after receipt of such notice, the Borrowers shall prepay Revolving Credit Loans in an
aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed 100% of the
Alternative Currency Sublimit then in effect.

 

 

(viii)         
Except as otherwise provided in Section 2.18, prepayments of the Revolving Credit Facility made pursuant to this
Section 2.05(b), first, shall be applied ratably to the L/C Borrowings and the Swing Line Loans, second, shall
be applied ratably to the outstanding Revolving Credit Loans, and, third, shall be used to Cash Collateralize the remaining
L/C

 

    80

     

    

 

Obligations in full. Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral
shall be applied (without any further action by or notice to or from the Company or any other Loan Party) to reimburse the applicable
L/C Issuer or the Revolving Credit Lenders, as applicable.

 

(ix)             
[Reserved.]

 

(x)               
Notwithstanding anything to the contrary contained in Section 2.05(b)(i), (ii) or (iii), to the extent
attributable to a Disposition or Recovery Event by a Restricted Subsidiary that is a Foreign Subsidiary, or arising from Excess
Cash Flow attributable to a Foreign Subsidiary, no prepayment (or a portion thereof) required under Section 2.05(b)(i),
(ii) or (iii) shall be made if such prepayment (or portion thereof), at the time it is required to be made, is subject
to material permissibility restrictions under applicable Law (including by reason of financial assistance, corporate benefit,
restrictions on upstreaming or transfer of cash intra group and the fiduciary and statutory duties of the directors of relevant
Restricted Subsidiaries), provided that the Company and its Restricted Subsidiaries shall make commercially reasonable
efforts with respect to such Laws to make such prepayment (or portion thereof) in accordance therewith (it being understood that
such efforts shall not require (x) any expenditure in excess of a nominal amount of funds or (y) modifications to the organizational
or tax structure of the Company and its Restricted Subsidiaries to permit such prepayment (or portion thereof)). Notwithstanding
anything to the contrary contained in this Section 2.05, to the extent a Restricted Payment or other distribution to the
Company is required (notwithstanding the Loan Parties’ commercially reasonable efforts to make such mandatory prepayment
without making such Restricted Payment or other payment) in connection with such prepayment (or portion thereof), no prepayment
(or a portion thereof) required under this Section 2.05 shall be made if either of the Company or any Restricted Subsidiary
determines in good faith that it would incur a liability in respect of Taxes (including any withholding tax) in connection with
making such Restricted Payment or other distribution which the Company, in its reasonable judgment, deems to be material, provided
that to the extent the provisions hereof relating to Excess Cash Flow of Foreign Subsidiaries apply, but the amount of the
total Excess Cash Flow attributable to the Company and its Domestic Subsidiaries then exceeds the prepayment then required to
be made under Section 2.05(b)(ii) or (iii) (in each case, solely for this purpose, determined without regard to
this Section 2.05(b)(x)), then (subject to the first sentence of this Section 2.05(b)(x))), the entire prepayment
then required under such Section 2.05(b)(ii) or (iii) shall be required to be made, without reduction pursuant to
this sentence. Notwithstanding anything in the preceding two sentences to the contrary, in the event the limitations or restrictions
described therein cease to apply to any prepayment (or portion thereof) required under Section 2.05(b), the Company shall
make such prepayment in an amount equal to the lesser of (1) the amount of such prepayment previously required to have been made
without having given effect to such limitations or restrictions and (2) the amount of cash and Cash Equivalents on hand at such
time, in each case, less the amount by which the Net Cash Proceeds resulting from the
applicable Disposition were previously used for the permanent repayment of Indebtedness (including any reductions in commitments
related thereto).

 

2.06          
Termination or Reduction of Commitments.

 

(a)              
Optional. The Company may, upon notice to the Administrative Agent, terminate the Revolving
Credit Facility, the Financial Letter of Credit Sublimit or the Swing Line Sublimit or from time to time permanently reduce the
Revolving Credit Facility, the Financial Letter of Credit Sublimit or the Swing Line Sublimit; provided that (i) any such
notice shall be received by the Administrative Agent

 

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Notwithstanding anything
herein to the contrary, during a Collateral Release Period and upon the written election of the Company (which such election shall
be effective upon notice from the Company to the Administrative Agent), the covenants provided in each of Sections 7.01(e),
(g), (h), (i) and (p) shall be replaced by a single basket permitting Liens securing (x) Consolidated Priority
Indebtedness in an aggregate amount not to exceed 10% of Consolidated Net Worth as of the last day of the most recent fiscal year
for which financial statements have been delivered pursuant to Section 6.01 (or, prior to the first delivery thereof, the
financial statements described in Section 5.05(b)) of the Company and its Restricted Subsidiaries and (y) Tax Arrangement
Priority Indebtedness of the Company and its Restricted Subsidiaries in an aggregate amount not to exceed 10% of Consolidated Net
Worth as of the last day of the most recent fiscal year for which financial statements have been delivered pursuant to Section
6.01 (or, prior to the first delivery thereof, the financial statements described in Section 5.05(b)) of the Company
and its Restricted Subsidiaries, in each case subject to a pro forma Consolidated Leverage Ratio not to exceed 3.00 to 1.00.

 

7.02          
Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except:

 

(a)              
Indebtedness under the Loan Documents;

 

(b)              
Indebtedness (x) outstanding on the date hereof (after giving effect to the Acquisition) and,
with respect to any individual item in excess of $5,000,000, listed on Schedule 7.02(b)(x), or (y) outstanding on a
later date (including Indebtedness incurred after the date hereof), giving effect to the Transactions, as and to the extent described
and set forth on Schedule 7.02(b)(y), and any refinancings, refundings, renewals or extensions of any such debt in (x) or
(y); provided that (i) the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal
or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably
incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder and the
direct or any contingent obligor with respect thereto is not changed, as a result of or in connection with such refinancing, refunding,
renewal or extension and (ii) the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination
(if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and
of any agreement entered into and of any instrument issued in connection therewith, are not materially less favorable to the Loan
Parties or the Lenders than the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed
or extended and the interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed
the then applicable market interest rate;

 

(c)              
obligations (contingent or otherwise) existing or arising under any Swap Contract, provided
that such obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly
mitigating risks associated with fluctuations in interest rates or foreign exchange rates;

 

(d)              
Guarantees of any Borrower or any Restricted Subsidiary in respect of Indebtedness otherwise
permitted hereunder of any Borrower or any other Restricted Subsidiary (other than of AECOM Capital and its Subsidiaries); provided
that (i) any Guarantee of Indebtedness permitted under Section 7.02(g) shall be required to be in compliance with clause
(B) thereof; (ii) no Loan Party may Guarantee Indebtedness of a non-Loan Party permitted by Section 7.02(k)(ii) pursuant
to this clause (d); and (iii) any Guarantee by a Loan Party of Indebtedness of another Loan Party permitted pursuant to Section
7.02(k)(ivv) shall
be required to be subordinated to the same extent as the guaranteed Indebtedness; 

 

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(k)               intercompany
Indebtedness owing (i) by a Loan Party to a Loan Party, (ii) by a non-Loan Party to a non-Loan Party, (iii) by a non-Loan
Party to a Loan Party (so long as the Investment by such Loan Party is permitted by Section 7.03) or
(iv , (iv) by the Company or any of its Restricted Subsidiaries to the Company or
any of its Restricted Subsidiaries to the extent such intercompany Indebtedness is incurred in connection with the repayment,
redemption, defeasance or retirement of Indebtedness of the Company or any of its Subsidiaries with the proceeds of the MS
Disposition or (v) by a Loan Party to a non-Loan Party that is subordinated to the Obligations of such Loan Party
under the Facilities and is in an aggregate principal amount at the time of incurrence thereof not to exceed the greater of
(A) $200,000,000 and (B) 5.0% of Consolidated Net Worth as of the last day of the most recent fiscal year for which financial
statements have been delivered at the time of incurrence thereof pursuant to Section 6.01 (or, prior to the first
delivery thereof, the financial statements described in Section 5.05(b));

 

(l)                
(i) Indebtedness of AECOM Capital (or Subsidiaries of, or Joint Ventures formed by, AECOM
Capital) in connection with projects or investments of AECOM Capital (or Subsidiaries of, or Joint Ventures formed by, AECOM Capital)
and (ii) Guarantees of any Indebtedness described in the preceding clause (i) so long as such Guarantees are permitted under Section
7.03(h);

 

(m)            
vendor financing in an aggregate principal amount not to exceed $100,000,000 at any time outstanding;

 

(n)              
unsecured notes so long as (i) no Default has occurred and is continuing either immediately
before or immediately after the issuance thereof, (ii) immediately before and after giving pro forma effect to such notes,
the Company and its Restricted Subsidiaries shall be in pro forma compliance with all of the financial covenants set forth
in Section 7.11, (iii) the final maturity date and weighted average life to maturity of such notes shall not be prior to
or shorter than that applicable to the latest Maturity Date then in effect under any of the Facilities and (iv) the terms and conditions
of such notes (including any financial covenants) are not materially more restrictive, taken in the aggregate, than the terms of
the indenture(s) governing the New Notes; 

 

(o)              
Indebtedness relating to insurance premium financings incurred in the ordinary course of business;

 

(p)              
other Indebtedness in an aggregate principal amount as of the date of any such incurrence
not to exceed the greater of (i) $100,000,000 and (ii) 2.5% of Consolidated Net Worth as of the last day of the most recent fiscal
year for which financial statements have been delivered at the time of incurrence thereof pursuant to Section 6.01 (or,
prior to the first delivery thereof, the financial statements described in Section 5.05(b)); and

 

(q)              
Indebtedness owing by the Company or any Restricted Subsidiary to the Company or any Restricted
Subsidiary, in each case to the extent incurred as (and in compliance with the requirements of) a Non-Core Asset Disposition Related
Transaction.

 

Notwithstanding anything
herein to the contrary, during a Collateral Release Period and upon the written election of the Company (which such election shall
be effective upon notice from the Company to the Administrative Agent), the covenants provided in each of Sections 7.02(e),
(f), (h), (i), (k), (l), (m) and (p) shall be replaced by a single basket permitting
(x) Consolidated Priority Indebtedness in an aggregate amount not to exceed 10% of Consolidated Net Worth of the Company and its
Restricted Subsidiaries as of the last day of the most recent fiscal year for which financial statements have been delivered pursuant
to Section 6.01 (or, prior to the first delivery thereof, the financial statements described in Section 5.05(b))
and (y) Tax Arrangement Priority Indebtedness of the Company and its Restricted Subsidiaries

 

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in an aggregate amount not to exceed
10% of Consolidated Net Worth as of the last day of the most recent fiscal year for which financial statements have been delivered
pursuant to Section 6.01 (or, prior to the first delivery thereof, the financial statements described in Section 5.05(b))
of the Company and its Restricted Subsidiaries, in each case subject
to a pro forma Consolidated Leverage Ratio not to exceed 3.00 to 1.00.

 

7.03          
Investments. Make or hold any Investments, except:

 

(a)              
Investments held by the Company and its Restricted Subsidiaries in the form of certain Cash
Equivalents;

 

(b)              
advances to officers, directors and employees of the Company and Restricted Subsidiaries made
in the ordinary course of business for travel, entertainment, relocation and analogous ordinary business purposes;

 

(c)               Investments
(i) by any Loan Party or any Restricted Subsidiary in any Loan Party (excluding any new Restricted Subsidiary that becomes a
Loan Party pursuant to such Investment), so long as, in the case of an Investment made by a non-Loan Party in a Loan Party in
the form of Indebtedness owing by such Loan Party, such Indebtedness is permitted to be incurred by the relevant Loan Party
pursuant to Section 7.02(k)(iv), (ii) by any Restricted Subsidiary that is not a Loan Party in any other Restricted
Subsidiary that is also not a Loan Party or (iii ,(iii)
by any of the Company or any of its Restricted Subsidiaries in the Company or any of its Restricted Subsidiaries to the
extent such Investment is made in connection with the repayment, redemption, defeasance or retirement of Indebtedness of the
Company or any of its Subsidiaries with the proceeds of the MS Disposition or (iv) by any Loan Party in any
Restricted Subsidiary that is not a Loan Party so long as the aggregate amount of such Investments made by Loan Parties after
the Closing Date in reliance on this clause (c)(iiiiv)
shall not at the time of incurrence thereof exceed the greater of (A) $200,000,000 and (B) 5.00% of Consolidated Net Worth as
of the last day of the most recent fiscal year for which financial statements have been delivered at the time of incurrence
thereof pursuant to Section 6.01 (or, prior to the first delivery thereof, the financial statements described in Section
5.05(b));

 

(d)              
Investments (i) consisting of extensions of credit in the nature of accounts receivable or
notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments (including Equity Interests)
received in satisfaction or partial satisfaction thereof from financially troubled account debtors, and (ii) received in connection
with the satisfaction or enforcement of Indebtedness or claims due or owing to the Company or any Restricted Subsidiary, or as
security for any such Indebtedness or claim;

 

(e)              
Guarantees permitted by Section 7.02;

 

(f)               
Investments (x) existing on the date hereof (after giving effect to the Acquisition) and,
with respect to each individual Investment outstanding in an amount in excess of $5,000,000, set forth on Schedule 7.03
or (y) existing on a later date (including Investments made after the date hereof), giving effect to the Transactions, as and to
the extent described and set forth on Schedule 7.02(b)(y);

 

(g)              
(i) the Acquisition and (ii) after the Closing Date, Investments constituting Permitted Acquisitions;

 

(h)              
Investments in AECOM Capital (and in a like amount by AECOM Capital in its Subsidiaries and
in Joint Ventures formed by AECOM Capital) in an aggregate amount at any time

 

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shall result
in the Existing AECOM Global II Loan ceasing to be ultimately owed to a Loan Party (other than as a result of any repayment thereof,
including without limitation repayment by way of a capital contribution permitted by Section 7.03 other than Sections
7.03(n) and (p)) and (iv) to the extent applicable, the Loan Parties comply with the requirements of Section 6.12
within the time periods set forth therein after giving effect to any Non-Core Asset Disposition; and

 

(q)              
(i) the MS Disposition, so long as the Net Cash Proceeds thereof are
used to make the mandatory prepayment of the Term Loans in accordance with Section 2.05(b)(ii) (it being understood that the MS
Disposition shall only be permitted pursuant to this clause (q)) and (ii) any Investments made pursuant to Section 7.03(c)(iii);

 

provided, however,
that any Disposition pursuant to this Section 7.05 (other than pursuant to clauses (a), (d), (j),
(l) or (lq)(ii))
shall be for no less than the fair market value of such property at the time of such Disposition (or, (x)
in the case of the MS Disposition and (y) otherwise at Company’s election in writing, on the date of the agreement
of the Company or any Restricted Subsidiary to make such Disposition).

 

7.06          
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 Restricted Subsidiary may make Restricted Payments to any Loan Party and any other Person
that owns a direct Equity Interest in such Restricted Subsidiary, either (i) ratably according to their respective holdings of
the type of Equity Interest in respect of which such Restricted Payment is being made or (ii) on a non-pro rata basis either (A)
where required by Organization Documents or agreements existing as of the Closing Date or (B) where the aggregate amount of all
distributions to Persons other than the Company or a Restricted Subsidiary that are in excess of the pro rata share of such Restricted
Payments that would otherwise be owing to such Persons does not exceed $25,000,000 in the aggregate during the term of the Facilities,
so long as no Default shall have occurred and be continuing at the time of any action described in this clause (a) or would
result therefrom;

 

(b)              
the Company and each Restricted Subsidiary may declare and make dividend payments or other
distributions payable solely in Equity Interests (other than Disqualified Stock) of such Person, so long as no Default shall have
occurred and be continuing at the time of any action described in this clause (b) or would result therefrom;

 

(c)              
the Company and each Restricted Subsidiary may purchase, redeem or otherwise acquire its Equity
Interests with the proceeds received from the substantially concurrent issue of new Equity Interests (other than Disqualified Stock),
so long as no Default shall have occurred and be continuing at the time of any action described in this clause (c) or would
result therefrom; 

 

(d)              
 each Restricted Subsidiary may declare and make Restricted Payments to the Company so that
the Company may pay any Taxes which are due and payable by or with respect to the Restricted Subsidiaries; 

 

(e)              
the Company and its Restricted Subsidiaries may make other Restricted Payments so long as
(i) the aggregate amount of Restricted Payments made during the term of this Agreement pursuant to this clause (e) is not
in excess of the Cumulative Available Amount that is Not Otherwise Applied, (ii) after giving pro forma effect thereto
(including any incurrence and/or repayment of Indebtedness in connection therewith), the Company shall be in pro forma
compliance with the then applicable Consolidated Leverage Ratio pursuant to Section 7.11(b) as of the last day of the most
recent fiscal quarter or year for which financial statements have been delivered pursuant to Section 6.01 (or,

 

    	 	138	 

     

    

 

otherwise) in accordance with any applicable Law.  In connection with any such credit bid and purchase, the Obligations owed
to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent
or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis that would vest upon the liquidation
of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent
interests) in the asset or assets so purchased (or in the Equity Interests or debt instruments of the acquisition vehicle or vehicles
that are used to consummate such purchase).  In connection with any such bid (i) the Administrative Agent shall be authorized
to form one or more acquisition vehicles to make a bid, (ii) to adopt documents providing for the governance of the acquisition
vehicle or vehicles provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles,
including any disposition of the assets or Equity Interests thereof shall be governed, directly or indirectly, by the vote of the
Required Lenders, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by
the Required Lenders contained in clauses (a) through (j) of Section 10.01 of this Agreement, and (iii) to
the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a
result of another bid being higher or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the
amount of debt credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to the Lenders
pro rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the Obligations that
had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any Secured Party or any acquisition
vehicle to take any further action.

 

9.10          
Collateral and Guaranty Matters. Without limiting the provision of Section 9.09, each of the Lenders (including
in its capacities as a potential Cash Management Bank, a potential Hedge Bank and a potential PLOC Bank) and each of the L/C Issuers
irrevocably authorize the Administrative Agent, at its option and in its discretion,

 

(a)               to
release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (i) upon the Facility
Termination Date, (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part of or in
connection with the MS Disposition or any other sale
or other disposition (including, without limitation, any disposition by way of a merger, consolidation, or amalgamation) or
Restricted Payment permitted hereunder or under any other Loan Document to a Person that is not a Loan Party, or (iii) if
approved, authorized or ratified in writing in accordance with Section 10.01;

 

(b)              
to release any Guarantor from its obligations under the Guaranty if such Person ceases to
be a Subsidiary as a result of athe MS Disposition
or any other transaction permitted under the Loan Documents, or ceases for
any reason to be a Significant Subsidiary; and

 

(c)              
to subordinate any Lien on any property granted to or held by the Administrative Agent under
any Loan Document to the holder of any Lien on such property that is permitted by Section 7.01(e).

 

Upon request by the
Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release
or subordinate its interest in particular types or items of property, or to release any Guarantor from its obligations under the
Guaranty pursuant to this Section 9.10. In each case as specified in this Section 9.10, the Administrative Agent
will, at the Borrowers’ expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably
request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral
Documents or to subordinate its interest in such item, or to

 

    151Exhibit

EXHIBIT 4.3

DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934

As of December 31, 2019, FirstCash, Inc. (the “Company,” “us,” “we,” or “our”) had one class of securities, our common stock, par value $0.01 per share, registered under Section 12 of the Securities Exchange Act of 1934, as amended.

Description of Common Stock

The following description of our Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our amended and restated certificate of incorporation and our amended and restated bylaws, which are filed as exhibits to our Annual Report on Form 10-K and are incorporated by reference herein, as well as the applicable provisions of the Delaware General Corporation Law. We encourage you to carefully review our amended and restated certificate of incorporation, our amended and restated bylaws and the applicable provisions of the Delaware General Corporation Law, for additional information.

General

Our authorized capital stock consists of 90,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of preferred stock, par value $0.01 per share. 

Voting Rights

Each share of our common stock is entitled to one vote per share of record on all matters to be voted upon by our stockholders. Generally, a matter submitted for stockholder action shall be decided by the affirmative vote of a majority of the shares present in person or represented by proxy at the meeting and entitled to vote thereon.  Other than in a contested election where directors are elected by a plurality vote, each nominee for director shall be elected by the vote of the majority of the votes cast, in person or by proxy, with respect to the director nominee at the meeting.  

Dividends

Subject to the preferential rights of the holders of any preferred stock that may at the time be outstanding, each share of common stock will entitle the holder of that share to an equal and ratable right to receive dividends or other distributions if declared from time to time by our board of directors and if there are sufficient funds to legally pay a dividend.

Rights Upon Liquidation

In the event of the Company’s liquidation, dissolution or winding up, whether voluntary or involuntary, the holders of our common stock will be entitled to share ratably in all assets remaining after payments to creditors and after satisfaction of the liquidation preference, if any, of the holders of any preferred stock that may at the time be outstanding. 

Other Rights

Holders of our common stock have no preemptive or redemption rights and will not be subject to further calls or assessments by the Company. 

Preferred Stock

The authorized preferred stock will be available for issuance from time to time at the discretion of our board of directors without stockholder approval. Our board of directors has the authority to prescribe for each series of preferred stock it establishes the number of shares in that series, the number of votes, if any, to which the shares in that series are entitled, the consideration for the shares in that series and the powers, designations, preferences and relative, participating, optional or other special rights, and qualifications, limitations or restrictions thereof, of the shares in that series. Depending upon the rights prescribed for a series of preferred stock, the issuance of preferred stock could have an adverse effect on the voting power of the holders of our common stock and could adversely affect holders of our common stock by delaying or preventing a change in control of the Company, making removal of the Company’s management more difficult or imposing restrictions upon the payment of dividends and other distributions to the holders of our common stock.

Certain Provisions That May Have an Anti-Takeover Effect

Certain other provisions of our amended and restated certificate of incorporation and amended and restated bylaws may delay or make more difficult unsolicited acquisitions or changes of control of the Company. These provisions could have the effect of discouraging third parties from making proposals involving an unsolicited acquisition or change in control of the Company, although these proposals, if made, might be considered desirable by a majority of the Company’s stockholders. These provisions may also have the effect of making it more difficult for third parties to cause the replacement of the current management without the concurrence of our board of directors. These provisions include:

		
	•
	The division of our board of directors into three classes serving staggered terms of office of three years. With a classified board of directors, it would generally take a majority stockholder two annual meetings of stockholders to elect a majority of the board of directors. As a result, a classified board may discourage proxy contests for the election of directors or purchases of a substantial block of stock because it could operate to prevent obtaining control of the board in a relatively short period of time.

		
	•
	A prohibition of stockholder action by written consent of stockholders. Action by written consent may, in some circumstances, permit the taking of stockholders’ action opposed by the board of directors more rapidly than would be possible if a meeting of stockholders were required. The prohibition contained in the amended and restated certificate of incorporation will restrict the ability of controlling stockholders to take action at any time other than at an annual meeting and will generally force a takeover bidder to negotiate directly with the board of directors.

		
	•
	Permitting only the Company’s board of directors, a duly authorized committee of the board of directors, the chairman or the vice chairman of our board of directors or the chief executive officer to call a special meeting of the Company’s stockholders. This provision could prevent a stockholder from, among other things, calling a special meeting of stockholders to consider the stockholder’s proposed slate of directors or a transaction that might result in a change of control of the corporation.

		
	•
	An advance notice procedure with regard to stockholder nomination of candidates for election as directors and other business to be brought before an annual meeting of our stockholders. Although our amended and restated bylaws will not give our board of directors any power to approve or disapprove stockholder nominations for the election of directors or other proposals for action, these advance notice procedures may have the effect of precluding a contest for the election of directors or the consideration of other stockholder proposals if the established procedures are not followed and of discouraging or deterring a third party from conducting a solicitation of proxies to elect its own slate of directors or to approve another proposal without regard to whether consideration of those nominees or proposals might be harmful or beneficial to the Company and our stockholders.

2

		
	•
	Elimination, subject to certain exceptions, of the personal liability of directors of the Company for monetary damages for breaches of fiduciary duty by such directors. The amended and restated certificate of incorporation will not provide for the elimination of or any limitation on the personal liability of a director for (i) any breach of the director’s duty of loyalty to the Company or its stockholders, (ii) acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) unlawful corporate distributions, or (iv) any transaction from which such director derives an improper personal benefit. This provision of the amended and restated certificate of incorporation will limit the remedies available to a stockholder who is dissatisfied with a decision of the board of directors protected by this provision, and such stockholder’s only remedy in that circumstance may be to bring a suit to prevent the action of the board. In many situations, this remedy may not be effective, as for example when stockholders are not aware of a transaction or an event prior to board action in respect of such transaction or event. In these cases, the stockholders and the corporation could be injured by the board’s decision and have no effective remedy.

		
	•
	Permitting the removal of directors only for cause by a vote of the holders of a majority of the outstanding shares of stock entitled to vote in an election of directors.

		
	•
	Permitting the board of directors, in evaluating any takeover offer, to consider all relevant factors, including the potential economic and social impact of the offer on our stockholders, employees, customers, creditors, the communities in which the Company operates and any other factors the directors consider pertinent. Once the board, in exercising its business judgment, has determined that a proposed action is not in the best interests of the Company, it has no duty to remove any barriers to the success of the action, including a shareholder rights plan.

Section 203 of the Delaware General Corporation Law

The Company is subject to Section 203 (“Section 203”) of the DGCL, which, subject to certain exceptions, prohibits a Delaware corporation from engaging in any business combinations with any interested stockholder for a period of three years following the date that such stockholder became an interested stockholder, unless (i) before such date the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder, (ii) upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding those shares owned (x) by persons who are directors and also officers and (y) by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer, or (iii) on or after such date the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock which is not owned by the interested stockholder.

Section 203 defines business combination to include (i) any merger or consolidation involving the corporation and the interested stockholder, (ii) any sale, lease, exchange, mortgage, transfer, pledge or other disposition involving the interested stockholder of 10% or more of assets of the corporation, (iii) subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder, (iv) any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder or (v) the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation. In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by such an entity or person.

Section 203 may delay, prevent or make more difficult certain unsolicited acquisitions, tender offers or changes of control of the Company and also may have the effect of preventing changes in our management. It is possible that these provisions could make it more difficult to accomplish transactions which our stockholders may otherwise deem to be in their best interest.

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