Document:

Exhibit 10.1

 

Execution Version

 

AMENDMENT NO. 1 TO CREDIT AGREEMENT

 

This AMENDMENT NO. 1 TO CREDIT AGREEMENT (this “Amendment”), dated as of July 1, 2015, is entered into by and among AECOM (formerly known as AECOM Technology Corporation), a Delaware corporation (the “Company”), on behalf of itself and certain subsidiaries of the Company acting as guarantors (the “Guarantors” and collectively with the Company, the “Loan Parties”) under the Credit Agreement (defined below), each Lender under the Credit Agreement that is a party hereto, 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 Lenders and the Administrative Agent are parties to that certain Credit Agreement, dated as of October 17, 2014 (as amended hereby and as further amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have extended certain revolving, term and letter of credit facilities to the Company;

 

WHEREAS, the Loan Parties have requested certain amendments to certain terms of the 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.

 

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.                                      Amendment to Credit Agreement.  Subject to the terms and conditions hereof and with effect from and after the Amendment Effective Date (defined below), Section 1.01 of the Credit Agreement is hereby amended by amending and restating clause (a)(v) of the definition of “Consolidated EBITDA” in its entirety as follows:

 

(v)                                 the amount of any restructuring charge or reserve or integration cost, including any one-time costs incurred in connection with the Transactions and acquisitions or divestitures after the Closing Date, in an aggregate amount not to exceed $250,000,000, such amount to increase (with carryforward of all unused amounts) by the amount set forth below, beginning on October 1, 2015 and on each October 1st thereafter:

 

	
Increase Date:
    	
 
    	
Increase Amount:
    	
 
    
	
October 1,   2015
    	
 
    	
$
    	
75,000,000
    	
 
    
	
October 1,   2016
    	
 
    	
$
    	
50,000,000
    	
 
    
	
October 1,   2017
    	
 
    	
$
    	
25,000,000
    	
 
    
	
October 1,   2018
    	
 
    	
$
    	
25,000,000
    	
 
    

 

 

3.                                      Representations and Warranties.  The Company, on behalf of itself and each of the other Loan Parties, hereby represents and warrants to the Administrative Agent and the Lenders as follows:

 

(a)                                 the execution, delivery and performance by the Company of this Amendment have been duly authorized by all necessary corporate or other organizational action and do not and will not (i) contravene the terms of any of the Company’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 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 the Company, and constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited by equitable principles and by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to creditors’ rights generally;

 

(c)                                  the representations and warranties of (i) the Company contained in Article V of the Credit Agreement and (ii) each Loan Party contained in 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;

 

(d)                                 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 on which the Administrative Agent shall have received electronically delivered (including by facsimile or pdf) counterparts of this Amendment duly executed by the Company, the requisite Lenders and the Administrative Agent; and (the “Amendment Effective Date”).

 

(b)                                 For purposes of determining compliance with the conditions specified in this Section 4, 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 this Section 4 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.

 

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(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.                                      Reaffirmation.  The Company, on behalf of itself and each other Loan Party, (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its and the other Loan Parties’ 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.

 

(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 IS SUBJECT TO THE PROVISIONS OF SECTIONS 10.14 AND 10.15 OF THE CREDIT AGREEMENT RELATING TO GOVERNING LAW, VENUE 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

 

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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 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, without limitation, 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.]

 

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

 

 

	
 
    	
COMPANY:
    
	
 
    	
 
    
	
 
    	
AECOM
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

AECOM

Signature Pages

Amendment No.1 to Credit Agreement

 

 

	
 
    	
BANK OF AMERICA, N.A.,   as Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

AECOM

Signature Pages

Amendment No.1 to Credit Agreement

 

 

	
 
    	
BANK OF AMERICA, N.A., as   a Lender, L/C Issuer and Swing Line Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

AECOM

Signature Pages

Amendment No.1 to Credit Agreement

 

 

	
 
    	
[LENDER], as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

AECOM

Signature Pages

Amendment No.1 to Credit AgreementEXHIBIT 10.1

SEVENTH AMENDMENT TO LEASE AGREEMENT

THIS SEVENTH AMENDMENT TO LEASE AGREEMENT ("this Seventh Amendment") is dated as of June 30, 2015 ("Effective Date"), by and between ARE-708 QUINCE ORCHARD, LLC, a Delaware limited liability company, having an address at 385 E. Colorado Blvd., Suite 299, Pasadena, California 91101 ("Landlord"), and OPGEN, INC., a Delaware corporation, having an address at Suite 220, 708 Quince Orchard Road, Gaithersburg, Maryland  20878 ("Tenant").

RECITALS

A.        Landlord and Tenant have entered into that certain Lease Agreement ("Original Lease") dated as of June 30, 2008, as amended by a First Amendment to Lease dated as of April 4, 2011 ("First Amendment"), a Second Amendment to Lease Agreement dated as of August 15, 2012 ("Second Amendment"), a Third Amendment to Lease Agreement dated as of December 30, 2013 ("Third Amendment"), a Fourth Amendment to Lease Agreement dated as of March 21, 2014 ("Fourth Amendment"), a Fifth Amendment to Lease Agreement dated as of March 20, 2015 ("Fifth Amendment"), and a Sixth Amendment to Lease Agreement (And Amendment to Reimbursement Agreement) dated as of April 30, 2015 ("Sixth Amendment"; the Original Lease, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, and the Sixth Amendment are hereinafter collectively referred to as the "Lease"), wherein Landlord leased to Tenant certain premises located on the first and second floors of the building located at 708 Quince Orchard Road, Gaithersburg, Maryland  20878, as more particularly described in the Lease, and consisting of approximately 18,931 rentable square feet ("Original Premises").

B.        Landlord and Tenant desire to amend the Lease, among other things, to increase the area of the Original Premises by adding approximately 2,008 rentable square feet of space (measured in accordance with the 1996 Standard Method of Measuring Floor Area in Office Buildings as adopted by the Building Owners and Managers Association (ANSI/BOMA Z65.1-1996)) located on the second floor of the Building ("2015 Expansion Premises"; the Original Premises and the 2015 Expansion Premises are hereinafter collectively referred to as the "Premises") as shown on Exhibit A attached hereto as the "Available Space."

  

AGREEMENT

Now, therefore, the parties hereto agree that the Lease is amended as follows:

1.            Expansion Premises.  Effective as of the 2015 Expansion Premises Commencement Date (as defined below), (a) the Original Premises shall be expanded to include the 2015 Expansion Premises so that the Premises contains approximately 20,939 rentable square feet, and (b) Exhibit A to this Seventh Amendment, which depicts the 2015 Expansion Premises, hereby supplements Exhibit A to the Lease.  The Term of the Lease for the Expansion Premises shall be the period beginning on the 2015 Expansion Premises Commencement Date and ending, unless earlier terminated in accordance with the terms and conditions of the Lease, on January 31, 2021 ("Expansion Premises Term").

 

 

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		a.	For purposes of this Seventh Amendment, "2015 Expansion Premises Commencement Date" means July 1, 2015 or such later date that Landlord is able to (i) deliver possession of the 2015 Expansion Premises to Tenant free and clear of the Current Tenant (as defined below) and (ii) complete the 2015 Expansion Premises Work (as defined below), subject to minor punchlist items.

		b.	Tenant acknowledges that the 2015 Expansion Premises is currently leased to Ideal Innovations Incorporated ("Current Tenant"), which lease is scheduled to expire on June 30, 2015.  Landlord makes no guaranty, representation, or assurance that Current Tenant will vacate the 2015 Expansion Premises by June 30, 2015.

2.            Base Rent for 2015 Expansion Premises.  Commencing on the 2015 Expansion Premises Commencement Date, Base Rent for the Premises shall be payable at the rate of $4,434.33 per month and shall thereafter be increased on each anniversary of the 2015 Expansion Premises Commencement Date by multiplying the Base Rent payable for the 2015 Expansion Premises immediately before such date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable for the 2015 Expansion Premises immediately before such date.  Base Rent for the 2015 Expansion Premises, as so adjusted, shall thereafter be due as provided in the Lease.

3.            Changes to Basic Lease Provisions.  Effective as of the 2015 Expansion Premises Commencement Date, the following amendments are hereby made to the definitions contained in the Basic Lease Provisions:

		a.	The defined term "Premises" shall be deleted in its entirety and replaced with the following:

		"Premises:	That portion of the Project, containing approximately 20,939 rentable square feet, as determined by Landlord, located on the second floor of the Building as shown as the (a) cross-hatched area on Exhibit A-3 to the Fifth Amendment to Lease Agreement ("Fifth Amendment") between Landlord and Tenant, and (b) area designated "Available Space" on Exhibit A to the Seventh Amendment to Lease Agreement between Landlord and Tenant ("Seventh Amendment")."

b.      The defined term "Rentable Area of the Premises" shall mean approximately 20,939 rentable square feet.

c.      The defined term "Tenant's Share of Operating Expenses" shall mean 42.20%.

4.           2015 Expansion Premises Work.  Before the 2015 Expansion Premises Commencement Date and subject to Force Majeure Delays, Landlord shall, at its expense, perform the following work within the 2015 Expansion Premises ("2015 Expansion Premises Work"):  (a) paint the walls with Building standard paint, (b) strip and wax the vinyl covered tile floor, and (c) clean the 2015 Expansion Premises.  To the extent there is any material damage or dents in the casework located in the 2015 Expansion Premises as of the 2015 Expansion Premises Commencement Date, Landlord shall promptly repair such damage or dents at its expense.

 

 

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a.        Acceptance.  (i) Subject to the 2015 Expansion Premises Work, Tenant shall accept the 2015 Expansion Premises in their condition as of the 2015 Expansion Premises Commencement Date; (ii) Landlord shall have no obligation for any defects in the 2015 Expansion Premises, and (iii) Tenant's taking possession of the 2015 Expansion Premises shall be conclusive evidence that Tenant accepts the 2015 Expansion Premises and that the 2015 Expansion Premises were in good condition at the time possession was taken.  Notwithstanding anything to the contrary in this Seventh Amendment, Tenant shall have a period of 180 days after the 2015 Expansion Premises Commencement Date to reasonably identify in writing any latent defects in the mechanical, electrical and plumbing systems serving the 2015 Expansion Premises.  For purposes of this Seventh Amendment, "latent defects" means those material defects in such systems that could not have been identified or discovered through a reasonable inspection of such systems conducted by a qualified technician.  Landlord will, at its expense, promptly repair such identified defects.

b.        No Representation or Warranty.  Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the 2015 Expansion Premises, and/or the suitability of the 2015 Expansion Premises for the conduct of Tenant's business, and Tenant waives any implied warranty that the 2015 Expansion Premises are suitable for the Permitted Use.  Tenant shall use the 2015 Expansion Premises only for the Permitted Use under the Lease in compliance with the provisions of Section 7 of the Lease.

c.        No Work.  Other than the 2015 Expansion Premises Work and correction of latent defects (as defined in Section 4.a. above), Landlord shall have no obligation to perform any work at the Building in connection with Tenant's occupancy of the 2015 Expansion Premises or obtain any permits, approvals, or entitlements related to Tenant's specific use of the 2015 Expansion Premises or Tenant's business operations therein.

 

5.            Amended Definition of "Termination Fee."  As of the 2015 Expansion Premises Commencement Date, the definition of "Termination Fee" set forth in the second sentence of Section 43(c) is hereby deleted and replaced with the following sentence:

For purposes of this Section, "Termination Fee" means an amount equal to the unamortized amounts of (i) 2015 Landlord's Work (as defined in the Fifth Amendment) and 2015 Expansion Premises Work (as defined in the Seventh Amendment), (ii) the leasing commissions paid by Landlord in connection with the Fifth Amendment and Seventh Amendment, and (iii) the Rental Abatement (as defined in the Fifth Amendment).

		6.	Miscellaneous.

a.    Terms used in this Seventh Amendment and not otherwise defined shall have the meanings ascribed to them in the Lease.

b.    This Seventh Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous oral and written agreements and discussions.  This Seventh Amendment may be amended only by an agreement in writing, signed by the parties hereto.

 

 

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c.    This Seventh Amendment is binding upon and shall inure to the benefit of the parties hereto, their respective agents, employees, members, representatives, officers, directors, divisions, subsidiaries, affiliates, assigns, heirs, successors in interest and shareholders.

d.    This Seventh Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same instrument.  The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto except having additional signature pages executed by other parties to this Seventh Amendment attached thereto.

e.    Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively, "Broker") in connection with this Seventh Amendment and that no Broker brought about this transaction, other than Scheer Partners, Inc. ("SPI").  SPI shall be paid by Landlord pursuant to a separate agreement between Landlord and SPI.  Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any Broker (other than SPI) claiming a commission or other form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this Seventh Amendment.

f.    Except as amended and/or modified by this Seventh Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this Seventh Amendment.  In the event of any conflict between the provisions of this Seventh Amendment and the provisions of the Lease, the provisions of this Seventh Amendment shall prevail.  Regardless of whether specifically amended by this Seventh Amendment, all of the terms and provisions of the Lease are hereby amended to the extent necessary to give effect to the purpose and intent of this Seventh Amendment.

[Signatures on Next Page]

 

 

 

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IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amendment under seal as of the day and year first above written.

 

 

	 	
TENANT:

 

OPGEN, INC.,

a Delaware corporation

	 
	 	 	 	 
	
 

	
By: 

	/s/ Timothy C. Dec                                               	 (SEAL)
	 	Name:	Timothy C. Dec	 
	 	Title:	Chief Financial Officer	 
	 	 	 	 

 

 

 

	 	
LANDLORD:

 

ARE-708 QUINCE ORCHARD, LLC,

a Delaware limited liability company

	 
	 	 	 	 
	
 

	
By: 

	
ARE-GP 708 Quince Orchard QRS CORP.,    

a Maryland corporation,

managing member                                       

	

 

	 	By:	Jackie Clem	 (SEAL)
	 	Name:	Jackie Clem	 
	 	Title:	Senior Vice President, RE Legal Affairs	 

 

  

 

 

 

 

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