Document:

Exhibit 10.5

 

EXECUTION VERSION

 

AMENDMENT NO. 3 TO SECOND AMENDED AND RESTATED
 CREDIT AGREEMENT AND AUTHORIZATION

 

AMENDMENT NO. 3 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND AUTHORIZATION dated as of January 22, 2009 (this “Amendment No. 3”), among NEW ENTERPRISE STONE & LIME CO., INC. (the “Borrower”), the GUARANTORS signatory hereto, MANUFACTURERS AND TRADERS TRUST COMPANY, as Agent (the “Agent”), Issuing Bank, Swing Lender and a Lender, and the other LENDERS set forth on the signature pages to this Amendment No. 3.

 

WITNESSETH:

 

WHEREAS, the Borrower, the Agent and certain other parties entered into that certain Second Amended and Restated Credit Agreement, dated as of January 11, 2008 (as amended by that certain Amendment No. 1 to Second Amended and Restated Credit Agreement dated as of February 14, 2008, that certain Waiver and Modification to Second Amended and Restated Credit Agreement, dated as of May 30, 2008, and that certain Amendment No. 2 and Modification to Second Amended and Restated Credit Agreement dated as of June 20, 2008, the “Existing Credit Agreement”), which provides for certain extensions of credit to the Borrower, subject to certain terms and conditions.

 

WHEREAS, the Borrower and the Lenders have agreed to amend and modify the Existing Credit Agreement as more specifically set forth herein (the Existing Credit Agreement, as amended by this Amendment No. 3, and as the same may be further amended, restated, modified and/or supplemented from time to time, being referred to as the “Credit Agreement”);

 

WHEREAS, the Lenders have agreed on the terms and subject to the conditions set forth below (i) to authorize and direct the Agent to amend the Second Amended and Restated Environmental Indemnity Agreement (the “Environmental Indemnity Agreement”) as set forth in Section 3 below, and (ii) to waive any Default or Event of Default that might have arisen due to the prior ineffectiveness of the aforesaid amendment;

 

NOW, THEREFORE, in consideration of the agreements herein contained, and for other valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows.

 

1.             DEFINITIONS.  Except as otherwise defined in this Amendment No. 3, initially capitalized terms shall have the respective meanings assigned to such terms in the Credit Agreement.

 

2.             AMENDMENTS.  Upon satisfaction of the conditions set forth in Article 6 below, effective as of the date hereof, the Existing Credit Agreement shall be amended in the manner set forth below:

 

(a)           Clause (c) of Section 1.1.1 of the Existing Credit Agreement (Revolving Credit Loans and RC Commitment; Commitment to Make RC Loans) is amended and restated as follows:

 

 

“(c) the RC Lenders shall not be obligated to make any RC Loans during any 30-day Clean-down Period of any fiscal year as described in Subsection 1.5.3 (Repayment During Clean-Down Period) if, after giving effect to such Loans, the sum of the aggregate principal amount of any outstanding RC Loans and Swing Loans, the aggregate outstanding amount of any Unreimbursed Drawings and the aggregate face amount of any outstanding Letters of Credit (to the extent such face amount is undrawn) would exceed such amount contemplated by Subsection 1.5.3 (Repayment During Clean-Down Period).”

 

(b)           Section 1.5.3 (Repayments of RC Loans and Swing Loans; Repayment during Clean-down Period) in the Existing Credit Agreement is amended and restated as follows:

 

“The Borrower hereby covenants and agrees that for a period of thirty (30) consecutive days during the fourth fiscal quarter of each fiscal year of the Borrower prior to the RC Maturity Date (a ‘Clean-down Period’) the sum of the aggregate principal amount of any outstanding RC Loans and Swing Loans, the aggregate outstanding amount of any Unreimbursed Drawings and the aggregate face amount of any outstanding Letters of Credit (to the extent such face amount is undrawn) shall not exceed $75,000,000.  It shall repay so much of the RC Loans and/or Swing Loans and/or reimburse the Issuing Bank for any Unreimbursed Drawings as is necessary to be in compliance with the provisions of this Subsection 1.5.3.”

 

3.             AUTHORIZATION.  In order to clarify the full time line and scope of duties for the actions set forth on, or contemplated by, Schedule II to the Environmental Indemnity Agreement, the Lenders authorize and direct the Agent to enter into an amendment (the “Amendment”), to the Environmental Indemnity Agreement in substantially the form set forth on Annex A hereto.

 

4.             WAIVER.  Agent and Lenders hereby waive, if applicable, any Default or Event of Default, if any, that may have arisen as a result of the Amendment not being effective prior to the date hereof or the date of such Amendment.

 

5.             REPRESENTATIONS AND WARRANTIES.  In order to induce the Lenders, the Issuing Bank, the Swing Lender and the Agent to agree to amend the Existing Credit Agreement in the manner set forth herein, the Borrower makes the following representations and warranties, which shall survive the execution and delivery of this Amendment No. 3:

 

(1)           As of the date hereof and after giving effect to the amendments, authorization, and waiver contained herein in Articles 2, 3, and 4 no Default or Event of Default has occurred and is continuing or would exist immediately after giving effect to the amendments contained herein;

 

(2)           Each of the representations and warranties of the Borrower and the other Loan Parties made in the Loan Documents is true and correct in all respects (or in

 

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all material respects if any such representation or warranty is not by its terms already qualified as to materiality) both before and after giving effect to the amendments contemplated hereby as though each such representation and warranty were made at and as of the date hereof unless relating solely to an earlier date, in which case such representation and warranty shall be true and correct in all respects as of such earlier date (or in all material respects as of such earlier date if any such representation or warranty is not by its terms qualified as to materiality);

 

(3)           The execution, delivery and performance of this Amendment No. 3 has been duly authorized by all requisite corporate action on the part of Borrower; and

 

(4)           No consent or approval of any third party, including, without limitation, any governmental agency or authority is necessary in connection with the execution, delivery and/or performance of this Amendment No. 3 and/or the enforceability hereof.  Upon satisfaction of the conditions set forth in Section 6, this Amendment No. 3 will constitute the legal, valid and binding obligation of the Borrower, enforceable against it in accordance with the terms hereof.

 

6.             EFFECTIVENESS.  The provisions set forth in Articles 2, 3 and 4 above shall become effective, as of the date hereof, immediately upon the last to occur of the following:

 

(1)           The Agent shall have executed this Amendment No. 3 and received counterparts of this Amendment No. 3 duly executed and delivered on behalf of the Borrower and the Majority Lenders;

 

(2)           The Agent shall have received payment by Borrower of all invoiced out-of-pocket fees, costs, expenses and other amounts required to be paid by Borrower in connection with the execution and delivery of this Amendment No. 3 or otherwise under the Loan Documents;

 

(3)           The Borrower shall have paid to the Agent, for the account of each of the Lenders who shall have executed and delivered its signature page to this Amendment No. 3 no later than the time specified, and in accordance with the instructions set forth, on Annex B hereto an amendment fee equal to 10 basis points on the amount of such Lender’s RC Commitment (whether borrowed or not) and outstanding Term Loans; and

 

(4)           The Agent shall have received such other information as it shall reasonably request.

 

7.             MISCELLANEOUS.

 

(a)           Counterparts.  This Amendment No. 3 may be executed in counterparts and by different parties hereto in separate counterparts, each of which, when executed and delivered, shall be deemed to be an original and all of which, when taken together, shall constitute one and the same instrument.  A photocopied, facsimile or pdf signature shall be deemed to be the functional equivalent of a manually executed original for all purposes.

 

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(b)           Ratification.  Except as set forth in Articles 2, 3 and 4 of this Amendment No. 3, no amendment, authorization or waiver to the Credit Agreement is intended hereby.  The Existing Credit Agreement, as amended by this Amendment No. 3, and the other Loan Documents (and/or in connection with this Amendment No. 3) are, and shall continue to be, in full force and effect.  Each of the parties hereto hereby confirms, approves and ratifies in all respects the Existing Credit Agreement, as amended by this Amendment No. 3, and each of the parties hereto and each of the Guarantors hereby confirms and ratifies in all respects all of the other agreements, documents and instruments to which such Person is a party and delivered in connection with the Existing Credit Agreement (and/or in connection with this Amendment No. 3). Without limiting the generality of the foregoing, the Borrower and the Guarantors, hereby confirm that the pledges and the security interest granted pursuant to the Loan Documents continue to secure all of the Secured Obligations under and ratifies (i) the Existing Credit Agreement as amended hereby and (ii) the other Loan Documents.

 

(c)           Payment of Expenses.  Without limiting other payment obligations of the Borrower set forth in the Credit Agreement, the Borrower agrees to pay all reasonable costs and expenses incurred by Agent in connection with the preparation, execution and delivery of this Amendment No. 3 and any other documents, agreements and/or instruments which may be delivered in connection herewith, including, without limitation, the reasonable fees and expenses of Agent’s counsel, Drinker Biddle & Reath LLP.

 

(d)           Governing Law.  This Amendment No. 3 shall be construed in accordance with, and governed by, the internal laws of the Commonwealth of Pennsylvania, without regard to the choice of law principles of such state.

 

(e)           References.  From and after the effective date of this Amendment No. 3, each reference in the Credit Agreement to “this Agreement”, “hereof, “hereunder” or words of like import, and all references to the Credit Agreement in any and all agreements, instruments, certificates and other documents, shall be deemed to mean the Credit Agreement as modified and amended by this Amendment No. 3 and as the same may be further amended, modified or supplemented in accordance with the terms thereof.

 

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, the undersigned have caused this Amendment No. 3 to be duly executed by their respective, duly authorized officers as of the date first above written.

 

	
 
    	
NEW   ENTERPRISE STONE & LIME CO., INC., as Borrower
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President, Chief Financial Officer and Secretary
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

 

	
Acknowledged and agreed to by:
    
	
 
    
	
 
    	
Guarantors:
    
	
 
    	
 
    
	
 
    	
MARTIN   LIMESTONE, INC.
    
	
 
    	
STAR   CARRIERS, INC.
    
	
 
    	
ABC   PAVING CO., INC.
    
	
 
    	
E.R.S.C., INC.
    
	
 
    	
GATEWAY   TRADE CENTER INC.
    
	
 
    	
BUFFALO   CRUSHED STONE INC.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
Vice   President and Assistant Secretary,
   on behalf of each of the foregoing
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
NEW   ENTERPRISE TRANSPORTATION, INC.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
VALLEY   QUARRIES, INC.
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
President   and Assistant Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
BLAIR   BEDFORD PAVING COMPANY, INC.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
Secretary   and Treasurer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
NESL   BUFFALO HOLDINGS, INC.
    	
 
    
	
 
    	
2544   CLINTON, INC.
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
Vice   President, Secretary and Treasurer
    
					

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
STABLER   COMPANIES INC.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    
	
 
    	
PROTECTION   SERVICES INC.
    
	
 
    	
SCI   PRODUCTS INC.
    
	
 
    	
WORK   AREA PROTECTION CORP.
    
	
 
    	
EASTERN   INDUSTRIES, INC.
    
	
 
    	
STABLER   DEVELOPMENT COMPANY
    
	
 
    	
ELCO-HAUSMAN   CONSTRUCTION CORPORATION
    
	
 
    	
EII   TRANSPORT INC.
    
	
 
    	
PRECISION   SOLAR CONTROLS INC.
    
	
 
    	
ASTI   TRANSPORTATION SYSTEMS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:
    	
Vice   President and Assistant Secretary
    
					

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
MANUFACTURERS   AND TRADERS TRUST COMPANY, as Agent and Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stephen A. Foreman
    
	
 
    	
 
    	
Name:
    	
Stephen   A. Foreman
    
	
 
    	
 
    	
Title:
    	
Regional   Executive
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
NATIONAL   CITY BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kenneth S. Jamison
    
	
 
    	
 
    	
Name:
    	
Kenneth   S. Jamison
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
FIRST   COMMONWEALTH BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lawrence C. Deihle
    
	
 
    	
 
    	
Name:
    	
Lawrence   C. Deihle
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
SOVEREIGN   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Zerick D. Cook
    
	
 
    	
 
    	
Name:
    	
Zerick   D. Cook
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
CITIZENS   BANK OF PENNSYLVANIA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Benjamin Ditson
    
	
 
    	
 
    	
Name:
    	
Benjamin   Ditson
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
S&T   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael J. Settimio
    
	
 
    	
 
    	
Name:
    	
Michael   J. Settimio
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
FIFTH   THIRD BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joe Hynds
    
	
 
    	
 
    	
Name:
    	
Joe   Hynds
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
TRISTATE   CAPITAL BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul J. Oris
    
	
 
    	
 
    	
Name:
    	
Paul   J. Oris
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
FIRSTMERIT   BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert G. Morlan
    
	
 
    	
 
    	
Name:
    	
Robert   G. Morlan
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
WELLS   FARGO EQUIPMENT FINANCE, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   William D. Robinson
    
	
 
    	
 
    	
Name:
    	
William   D. Robinson
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
KEY   BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mark F. Wachowiak
    
	
 
    	
 
    	
Name:
    	
Mark   F. Wachowiak
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
FULTON   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James J. Dougherty
    
	
 
    	
 
    	
Name:
    	
James   J. Dougherty
    
	
 
    	
 
    	
Title:
    	
Vice   President - Relationship
   Manager
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
THE   PRIVATEBANK & TRUST COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard J. Kress
    
	
 
    	
 
    	
Name:
    	
Richard   J. Kress
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
SANDY   SPRING BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Roy S. Lewis
    
	
 
    	
 
    	
Name:
    	
Roy   S. Lewis
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
FIRST   NATIONAL BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Nicholas B. Gates
    
	
 
    	
 
    	
Name:
    	
Nicholas   B. Gates
    
	
 
    	
 
    	
Title:
    	
Assistant   Vice President
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
WILMINGTON   TRUST
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Megan V. Rosanova
    
	
 
    	
 
    	
Name:
    	
Megan   V. Rosanova
    
	
 
    	
 
    	
Title:
    	
AVP
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

	
 
    	
AUDAX   CREDIT OPPORTUNITIES OFFSHORE LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael P. McGonigle
    
	
 
    	
 
    	
Name:
    	
Michael   P. McGonigle
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Amendment No. 3 to Second Amended and Restated Credit Agreement-
 New Enterprise Stone & Lime Co., Inc.]

 

 

Annex A

 

Amendment to Environmental Indemnity Agreement

 

Clause (i) of Section 3.2 of the Environmental Indemnity Agreement is deleted and Section 4 of the Environmental Indemnity Agreement is deleted in its entirety and said Section 4 is replaced with the following:

 

“Obligors hereby confirm that either (i) they have completed the actions set forth on Schedule II hereto, or (ii) as to those actions not completed, they have engaged an environmental services firm to take or have otherwise initiated all such actions set forth on Schedule II hereto within 12 months of the Closing Date.  All investigations set forth on Schedule II not previously completed, shall be complete by April 30, 2009 (or such later date as may be agreed to by the Agent in its sole discretion).  Upon completion of the investigations, the Obligors shall provide the Agent with one or more plans of additional investigation and/or remediation (each individually, a “Plan”) to address the corrective, remedial or other actions that are required by Environmental Law or reasonably desirable to be taken (and not previously taken) as a result of any such investigations.  Any such Plan shall describe the specific actions to be taken and shall provide a schedule for completion for each such action, all to the reasonable satisfaction of the Agent.  Thereafter, the Obligors shall cause all of the actions specified in any such Plan to be taken in accordance with the schedule specified or as otherwise agreed to by the Agent in its sole discretion.  Without limiting the generality of the foregoing, the Obligors shall diligently pursue in all material respects such actions as are contemplated by this Section 4, on Schedule II and in each Plan.”

 

 

Annex B

 

Signature pages are required to be delivered no later than 5 p.m. (EST) on January 22, 2009 (or such later time as the Agent may specify in a writing posted on Intralinks) to Joshua Bernstein by fax at 215.988.2757 or by email atjoshua.bernstein@dbr.com in order for a Lender to be entitled to the amendment fee referenced in Article 6(2) of the Amendment No. 3.

 

Five (5) originals of the signature page should be sent to Josh Bernstein at the following address:

 

Drinker Biddle & Reath LLP
 One Logan Square, 18th & Cherry Streets
 Philadelphia, PA 19103
 tel:           215.988.2650Exhibit 10.6

 

 

AMENDMENT NO. 4 AND MODIFICATION AND WAIVER 
 TO SECOND AMENDED AND RESTATED FIRST LIEN CREDIT AGREEMENT

 

AMENDMENT NO. 4 AND MODIFICATION AND WAIVER TO SECOND AMENDED AND RESTATED FIRST LIEN CREDIT AGREEMENT dated as of June 18, 2009 (this “Amendment”), among NEW ENTERPRISE STONE & LIME CO., INC. (the “Borrower”), the GUARANTORS signatory hereto, MANUFACTURERS AND TRADERS TRUST COMPANY, as Agent (the “Agent”), issuing Bank, Swing Lender and a Lender, and the other LENDERS party hereto.

 

WITNESSETH:

 

WHEREAS, the Borrower, the Agent and certain other parties entered into that certain Second Amended and Restated Credit Agreement, dated as of January 11,2008 (as amended by that certain Amendment No. 1 to Second Amended and Restated Credit Agreement dated as of February 14,2008, that certain Waiver and Modification to Second Amended and Restated Credit Agreement, dated as of May 30,2008, that certain Amendment No. 2 and Modification to Second Amended and Restated Credit Agreement, dated as of June 20,2008, and that certain Amendment No. 3 and Authorization, dated as of January 22,2009, the “Existing Credit Agreement”), which provides for certain extensions of credit to the Borrower, subject to certain terms and conditions; terms not otherwise defined herein are used as defined in the Existing Credit Agreement;

 

WHEREAS, the Borrower has requested that the Lenders amend the Existing Credit Agreement in certain respects and the Lenders agree, subject to the terms and conditions set forth herein, to amend the Existing Credit Agreement as more specifically set forth herein (the Existing Credit Agreement, as amended by this Amendment, and as the same may be further amended, restated, modified and/or supplemented from time to time, being referred to as the “Credit Agreement”);

 

NOW, THEREFORE, in consideration of the agreements herein contained, and for other valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows.

 

1.             AMENDMENTS.  Upon satisfaction of the conditions set forth in Section 5 below, effective as of the date hereof, the Existing Credit Agreement shall be amended as of February 28, 2009 in the manner set forth below:

 

a.             The defined term “Net Worth” in Article 9 (Definitions) of the Existing Credit Agreement shall be amended and restated to read as follows:

 

“‘Net Worth:  the excess of total assets over total liabilities (each to be determined in accordance with GAAP), but without reduction for (i) the Conversion Deferred Tax Liabilities and (ii) non-cash impairment charges related to SFAS No. 142, ‘Goodwill and Other Intangible Assets’ reflected on the statement of income in an amount not to exceed $25,000,000 in the aggregate during the term of the Credit Agreement.”

 

 

b.             Clause (h) of Section 7.1.1 (Indebtedness; In General) is hereby amended by deleting “$3,000,000” and replacing it with “$8,000,000”.

 

2.             MODIFICATION.  Upon satisfaction of the conditions set forth in Section 5 below, effective as of the date hereof, the Agent and the Lenders agree to modify the requirement that Borrower deliver;

 

a.             its annual financial statements for the fiscal year ended February 28, 2009, (which under the Existing Credit Agreement would be due by May 29, 2009),

 

b.             its Officer’s Compliance Certificate for the quarter ended February 28, 2009, (which under the Existing Credit Agreement would be due by May 29, 2009),

 

c.             its annual budget for the fiscal year commencing on March 1, 2009, (which under the Existing Credit Agreement would be due by May 29, 2009),

 

d.             its monthly reports for the month ended March 31, 2009, (which under the Existing Credit Agreement would be due by May 15, 2009), and

 

e.             its monthly reports for the month ended April 30, 2009 (which under the Existing Credit Agreement would be due by June 15, 2009),

 

in each case, to extend the delivery deadline until June 19, 2009.  The modifications set forth herein are limited to their express terms and shall not imply that the Agent or the Lenders would be willing to expand the terms or provide additional waivers or modifications in the future.

 

3.             WAIVERS.  Agent and Lenders hereby waive (i) any Default or Event of Default that may have arisen as a result of the amendments set forth in Section 1 above and the modifications set forth in Section 2 not becoming effective until the date hereof and (ii) the imposition of the Default Rate in connection therewith.  The waivers set forth herein are limited to their express terms and shall not imply that the Agent or the Lenders would be willing to expand the terms or provide additional waivers in the future.

 

4.             REPRESENTATIONS AND WARRANTIES.  In order to induce the Lenders, the Issuing Bank, the Swing Lender and the Agent to agree to amend and modify the Existing Credit Agreement in the manner set forth herein, the Borrower makes the following representations and warranties, which shall survive the execution and delivery of this Amendment:

 

a.             As of the date hereof, after giving effect to the amendments and modifications contained herein, no Default or Event of Default has occurred and is continuing;

 

b.             Each of the representations and warranties of the Borrower and the other Loan Parties made herein and in the other Loan Documents is true and correct in all respects (or in all material respects if any such representation or warranty is not by its terms already qualified as to materiality) both before and after giving effect to the amendments contemplated hereby as though each such representation and warranty were made at and as of the date hereof unless relating solely to an earlier date, in which case such representation and

 

2

 

warranty shall be true and correct in all respects as of such earlier date (or in all material respects as of such earlier date if any such representation or warranty is not by its terms qualified as to materiality);

 

c.             The execution, delivery and performance of this Amendment has been duly authorized by all requisite corporate action on the part of Borrower;

 

d.             No consent or approval of any third party, including, without limitation, any governmental agency or authority is necessary in connection with the execution, delivery and/or performance of this Amendment and/or the enforceability hereof.  Upon satisfaction of the conditions set forth in Section 5, this Amendment will constitute the legal, valid and binding obligation of the Borrower, enforceable against it in accordance with the terms hereof

 

e.             All Secured Obligations are due and payable without setoff or counterclaim and the Loan Parties have no claims against the Agent or Lenders.

 

5.             EFFECTIVENESS.  The amendments, modifications and waivers to the Existing Credit Agreement set forth herein shall become effective, as of the date hereof, immediately upon the last to occur of the following;

 

a.             The Agent shall have executed this Amendment and received counterparts of this Amendment duly executed and delivered on behalf of the Loan Parties and the Majority Lenders;

 

b.             The Agent shall have received payment by Borrower of all invoiced out- of-pocket fees, costs, expenses and other amounts required to be paid by Borrower in connection with the execution and delivery of this Amendment or otherwise under the Loan Documents;

 

c.             The Borrower shall have paid to the Agent an amendment fee, for the account of each of the Lenders (based on each Lenders outstanding Term Loans and RC Commitment) who shall have executed and delivered its signature page to this Amendment no later than the time specified, and in accordance with the instructions set forth on Annex A hereto; and

 

d.             The Agent shall have received an amendment and waiver to the Second Lien Credit Agreement, in form and substance reasonably satisfactory to the Agent, executed by the Borrower and Majority Lenders (in this instance, as defined in the Second Lien Credit Agreement).

 

e.             The Agent shall have received such other information as it shall reasonably request.

 

6.             MISCELLANEOUS.

 

a.             Counterparts.  This Amendment may be executed in counterparts and by different parties hereto in separate counterparts, each of which, when executed and

 

3

 

delivered, shall be deemed to be an original and all of which, when taken together, shall constitute one and the same instrument.  A photocopied, facsimile or pdf signature shall be deemed to be the functional equivalent of a manually executed original for all purposes.

 

b.             Ratification.  Except as set forth herein, no amendment, modification or waiver is intended hereby.  The Existing Credit Agreement, as amended by this Amendment and the other Loan Documents (and/or in connection with this Amendment) are, and shall continue to be, in full force and effect.  Each of the parties hereto hereby confirms, approves and ratifies in all respects the Existing Credit Agreement, as amended by this Amendment, and each of the parties hereto and each of the Guarantors hereby confirms and ratifies in all respects all of the other agreements, documents and instruments to which such Person is a party and delivered in connection with the Existing Credit Agreement (and/or in connection with this Amendment).  Without limiting the generality of the foregoing, the Borrower and the Guarantors, hereby confirm that the pledges and the security interest granted pursuant to the Loan Documents continue to secure all of the Secured Obligations under and ratifies (i) the Existing Credit Agreement as amended hereby and (ii) the other Loan Documents.

 

c.             Payment of Expenses.  Without limiting other payment obligations of the Borrower set forth in the Credit Agreement, the Borrower agrees to pay all reasonable costs and expenses incurred by Agent in connection with the preparation, execution and delivery of this Amendment and any other documents, agreements and/or instruments which may be delivered in connection herewith, including, without limitation, the reasonable fees and expenses of Agent’s counsel, Drinker Biddle & Ream LLP.

 

d.             Governing Law.  This Amendment shall be construed in accordance with, and governed by, the internal laws of the Commonwealth of Pennsylvania, without regard to the choice of law principles of such state.

 

e.             References.  From and after the effective date of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereof, “hereunder” or words of like import, and all references to the Credit Agreement in any and all agreements, instruments, certificates and other documents, shall be deemed to mean the Credit Agreement as modified and amended by this Amendment and as the same may be further amended, modified or supplemented in accordance with the terms thereof.

 

[Signature Pages Follow]

 

4

 

IN WITNESS WHEREOF, the undersigned have caused this Amendment No. 2 to be duly executed by their respective, duly authorized officers as of the date first above written.

 

	
 
    	
NEW   ENTERPRISE STONE & LIME CO., INC., as Borrower
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    
	
 
    	
 
    	
Title:   
    	
Executive   Vice President, Chief Financial Officer and Secretary
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
MANUFACTURERS   AND TRADERS TRUST COMPANY, as Agent and Lender
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Stephen A. Foreman
    
	
 
    	
 
    	
Name:
    	
Stephen   A. Foreman
    
	
 
    	
 
    	
Title:
    	
Regional   Executive
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

Acknowledged and agreed to by:

 

	
 
    	
Guarantors:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
MARTIN   LIMESTONE, INC.
    	
 
    
	
 
    	
STAR   CARRIERS, INC.
    	
 
    
	
 
    	
ABC   PAVING CO., INC.
    	
 
    
	
 
    	
E.R.S.C., INC.
    	
 
    
	
 
    	
GATEWAY   TRADE CENTER INC.
    	
 
    
	
 
    	
BUFFALO   CRUSHED STONE INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Title:
    	
Vice   President and Assistant Secretary,
    	
 
    
	
 
    	
 
    	
 
    	
on   behalf of each of the foregoing
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
NEW   ENTERPRISE TRANSPORTATION, INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
VALLEY   QUARRIES, INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Title:
    	
President   and Assistant Secretary
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BLAIR   BEDFORD PAVING COMPANY, INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Title:
    	
Secretary   and Treasurer
    	
 
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
NESL   BUFFALO HOLDINGS, INC.
    	
 
    
	
 
    	
2544   CLINTON, INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Title:
    	
Vice   President, Secretary and Treasurer
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
STABLER   COMPANIES INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
PROTECTION   SERVICES INC.
    	
 
    
	
 
    	
SCI   PRODUCTS INC.
    	
 
    
	
 
    	
WORK   AREA PROTECTION CORP.
    	
 
    
	
 
    	
EASTERN   INDUSTRIES, INC.
    	
 
    
	
 
    	
STABLER   DEVELOPMENT COMPANY
    	
 
    
	
 
    	
ELCO-HAUSMAN   CONSTRUCTION CORPORATION
    	
 
    
	
 
    	
EII   TRANSPORT INC.
    	
 
    
	
 
    	
PRECISION   SOLAR CONTROLS INC.
    	
 
    
	
 
    	
ASTI   TRANSPORTATION SYSTEMS, INC.
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Name:
    	
Paul   I. Detwiler, III
    	
 
    
	
 
    	
 
    	
Title:
    	
Vice   President and Assistant Secretary
    	
 
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
NATIONAL   CITY BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Kenneth S. Jamison
    
	
 
    	
 
    	
Name:
    	
Kenneth   F. Jamison
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
FIRSTMERIT   BANK, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Robert G. Morlan
    
	
 
    	
 
    	
Name:
    	
Robert   G. Morlan
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
WILMINGTON   TRUST COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Megan V. Rosanova
    
	
 
    	
 
    	
Name:
    	
Megan   V. Rosanova
    
	
 
    	
 
    	
Title:
    	
AVP
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
HSBC BANK USA, N.A.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Frank M. Eassa
    
	
 
    	
 
    	
Name:
    	
Frank   M. Eassa
    
	
 
    	
 
    	
Title:
    	
AVP   Commercial Banking
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
FIFTH   THIRD BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Joe Hynds
    
	
 
    	
 
    	
Name:
    	
Joe   Hynds
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
S&T   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Michael J. Settimio
    
	
 
    	
 
    	
Name:
    	
Michael   J. Settimio
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
FULTON   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   James J. Dougherty
    
	
 
    	
 
    	
Name:
    	
James   J. Dougherty
    
	
 
    	
 
    	
Title:
    	
VP   — Relationship Mgr.
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
CITIZENS   BANK OF PENNSYLVANIA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Benjamin K. Ditson
    
	
 
    	
 
    	
Name:
    	
Benjamin   K. Ditson
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
SOVEREIGN   BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Zerick D. Cook
    
	
 
    	
 
    	
Name:
    	
Zerick   D. Cook
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
AUDAX   CREDIT OPPORTUNITIES OFFSHORE LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael P. McGonigle
    
	
 
    	
 
    	
Name:
    	
Michael   P. McGonigle
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
FIRST   COMMONWEALTH BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Lawrence C. Deihle
    
	
 
    	
 
    	
Name:
    	
Lawrence   C. Deihle
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
SANDY   SPRING BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Roy S. Lewis
    
	
 
    	
 
    	
Name:
    	
Roy   S. Lewis
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
FIRST   NATIONAL BANK OF PENNSYLVANIA
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Nicholas B. Gates
    
	
 
    	
 
    	
Name:
    	
Nicholas   B. Gates
    
	
 
    	
 
    	
Title:
    	
AVP   Commercial Lending
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
TRISTATE   CAPITAL BANK
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Paul J. Oris
    
	
 
    	
 
    	
Name:
    	
Paul   J. Oris
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
ATLAS   OCI ENHANCED LOAN INCOME FUND LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Heather M. Jousma
    
	
 
    	
 
    	
Name:
    	
Heather   M. Jousma
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
OCTAGON INVESTMENT PARTNERS   V, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
By:
    	
/s/   Donald C. Young
    
	
 
    	
as   Portfolio Manager
    	
 
    	
Name:
    	
Donald   C. Young
    
	
 
    	
 
    	
 
    	
Title:
    	
Portfolio   Manager
    
	
 
    	
 
    	
 
    
	
OCTAGON INVESTMENT PARTNERS   VI, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
 
    
	
 
    	
as   Collateral Manager
    	
 
    
	
OCTAGON INVESTMENT PARTNERS   VII, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
 
    
	
 
    	
as   Collateral Manager
    	
 
    
	
OCTAGON INVESTMENT PARTNERS   VIII, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
 
    
	
 
    	
as   Collateral Manager
    	
 
    
	
OCTAGON INVESTMENT PARTNERS   IX, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
 
    
	
 
    	
as   Manager
    	
 
    
	
OCTAGON INVESTMENT PARTNERS   X, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
 
    
	
 
    	
as   Collateral Manager
    	
 
    
	
OCTAGON INVESTMENT PARTNERS   XI, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
 
    
	
 
    	
as   Collateral Manager
    	
 
    
	
HAMLET II, LTD.
    	
 
    
	
By:
    	
Octagon   Credit Investors, LLC
    	
 
    
	
 
    	
as   Portfolio Manager
    	
 
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
AMMC   CLO III, LIMITED
    
	
 
    	
By:
    	
American   Money Management Corp.,
    
	
 
    	
 
    	
as   Collateral Manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Chester M. Eng
    
	
 
    	
 
    	
Name:
    	
Chester   M. Eng
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
AMMC   CLO V, LIMITED
    
	
 
    	
By:
    	
American   Money Management Corp.,
    
	
 
    	
 
    	
as   Collateral Manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Chester M. Eng
    
	
 
    	
 
    	
Name:
    	
Chester   M. Eng
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
AMMC   CLO VI, LIMITED
    
	
 
    	
By:
    	
American   Money Management Corp.,
    
	
 
    	
 
    	
as   Collateral Manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Chester M. Eng
    
	
 
    	
 
    	
Name:
    	
Chester   M. Eng
    
	
 
    	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

 

 

	
 
    	
WELLS   FARGO EQUIPMENT FINANCE
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Matthew C. Jungemann
    
	
 
    	
 
    	
Name:
    	
Matthew   C. Jungemann
    
	
 
    	
 
    	
Title:
    	
Senior   Account Executive
    

 

[Signature Page to Amendment No .4 to Second Amended and Restated Credit Agreement]

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