Document:

periya_ex101.htm

EXHIBIT 10.1

 

SUBSCRIPTION AGREEMENT

PERIYA CORP.

The Offering

 

Periya Corp., a Nevada corporation (“Periya”), agrees to sell to subscriber its common stock at a purchase price of $0.01 per share. The shares acquired pursuant to this transaction are being acquired under the auspices of Regulation S of the Securities Act of 1933 (the “Act”), and the certificates representing these shares will bear a restrictive legend preventing resale without compliance with the safe harbor regulations of the Act.

 

The undersigned is delivering (i) the subscription payment via wire or check made payable to Szaferman, Lakind, Blumstein & Blader, P.C as Escrow Agent to Periya Corp. (ii) two executed copies of the Signature page at the end of this Agreement, and (iii) one executed copy of Purchaser Questionnaire for Individuals (if appropriate).

 

General Conditions and Restrictions

 

The Securities have not been registered under the Securities Act, the Company has no intention of registering the Securities under such Act and Subscribers will have no “piggy back” or “demand” registration rights with respect to the Securities. Without such registration or an exemption therefrom, Subscriber understands that he will be unable to, and may not, offer or sell the Securities within the United States or to, or for the account or benefit of, any United States persons UNTIL ONE YEAR AFTER THE CLOSING OF THIS OFFERING. Furthermore, Subscriber represents that he is not currently nor has he been in the recent past, intending to resell these Securities in the United States to persons or entities already identified as prospective purchasers. Subscriber acknowledges that the Company has urged Subscriber to consult with its own advisors concerning the restrictions on his ability to sell the Securities.

 

3. Risk Factors

 

THE UNDERSIGNED SUBSCRIBER (THE “UNDERSIGNED” OR “SUBSCRIBER”) HEREBY ACKNOWLEGES ITS UNDERSTANDING OF THE SPECULATIVE NATURE OF THIS INVESTMENT, THAT IT INVOLVES A HIGH DEGREE OF RISK AND THAT NO FEDERAL OR STATE SECURITIES AGENCY HAS MADE ANY FINDIN OR DETERMINATION, OR HAS PASSED UPON, THE TERMS OR FAIRNESS OF THE OFFERING MADE HEREBY.

 

The Company is in the development stage, with a history of limited operations, limited revenues and no net income to date, and it is in need of additional capital for operations and expansion. An investment in the Company is suitable only for investors with substantial means who have no need for liquidity in their investments and who can afford to suffer a total loss.

 

  

1

  

 

4. Company Has No Obligation under the Act to Provide Offering Material to Subscriber

Subscriber acknowledges that under the Securities Act the Company is not required to furnish Subscriber with any offering material in connection with this offering and that it is Subscriber’s sole and active responsibility to evaluate the Company and an investment in the Securities. Accordingly, to the extent Subscriber has deemed it necessary, appropriate or advisable, Subscriber has directly, or indirectly, through its agents and representatives, performed “due diligence” regarding the Company, its financial condition and results of operations, capitalization, authorized and outstanding securities and Common Stock eligible for future sale, business plan of operation, products, sales, marketing, competition, prospects, management, executive compensation, transactions with affiliates, principal shareholders and their respective beneficial ownership of the Company’s Common Stock, the proposed grants of stock options, information regarding the resale restrictions on the Securities, the market for the Company’s Common Stock and “penny stock” rules to which the Securities are now subject and will remain subject unless the Common Stock is listed on NASDAQ, the immediate and substantial dilution in the offering price of Securities compared to the net tangible book value per share of Common Stock after the offering, and the other risks relating to the Company and an investment in the Securities. Other than any documentation which has been expressly requested by Subscriber, the Company has furnished Subscriber with no offering materials.

 

5. Subscription

 

The Subscriber has carefully considered, and to the extent Subscriber believes it appropriate, has discussed with Subscriber’s legal, tax and financial advisors, the suitability of making an investment in the Company on the terms set forth herein. After due consideration, and subject to the terms and conditions hereof, the Subscriber hereby irrevocably subscribes for the dollar amount of Securities set forth on the signature page and has paid the subscription price therefore. The Subscriber acknowledges that the Company may accept or reject this subscription in whole or in part, in its sole and absolute discretion.

 

6. Representation and Warranties of Subscriber

 

In order to induce the Company to accept this subscription, Subscriber hereby represents and warrants to, and covenants and agrees with the Company as follows:

	
a)  

	
The Subscriber is not a “United States person” under Rule 902 (o) of Regulation S under the Securities Act, and is not acquiring the Securities for the account or benefit of any United States person; and Subscriber, if a natural person, is over 21 years of age;

 

  

2

  

 

	
b)  

	
Subscriber (i) has adequate means of providing for his current needs and possible personal contingencies, and Subscriber has no need for liquidity of his investment, (ii) can bear the economic risk of losing the entire investment, (iii) has such knowledge and experience in financial and business matters that Subscriber is capable of evaluating the relative risks and merits of investment in the securities, (iv) has had an opportunity to ask questions of and receive answers from the Company’s senior management concerning the Company and its books and records of the Company requested, if any, by Subscriber pertaining to the investment in the Securities have been made available for inspection or delivery to Subscriber and Subscriber has read or reviewed, and is familiar with and understands the same;

 

	
c)  

	
SUBSCRIBER RECOGNIZES, UNDERSTANDS AND ACKNOWLEDGES THAT THERE ARE SUBSTANTIAL RESTRICTIONS OF THE TRANSFERABILITY OF THE SECURITIES, AND SUBSCRIBER MAY HAVE TO HOLD THE SECURITIES INDEFINITELY, AND MAY NOT BE ABLE TO LIQUIDATE THE INVESTMENT IN THE COMPANY WHEN SUBSCRIBER WISHES TO DO SO, IF AT ALL, BECAUSE, AMONG OTHER THINGS, THERE IS A LIMITED TRADING MARKET FOR ITS COMMON STOCK. IN ADDITION, PURSUANT TO REGULATION “S” UNDER THE SECURITIES ACT, SUBSCRIBER GENERALLY IS PROHIBITED FROM OFFERING OR SELLING THE SECURITIES WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF ANY U.S. PERSONS, FOR AT LEAST ONE YEAR FROM THE CLOSING OF THIS OFFERING;

	
d)  

	
The Securities are being acquired solely for Subscriber’s own benefit and account;

	
e)  

	
Subscriber will not sell or otherwise transfer the Securities (i) without registration thereof under the Securities Act and applicable state securities laws or a written opinion of counsel (which counsel and opinion [in form and substance] shall be reasonably satisfactory to the Company) to the effect that the proposed sale or transfer is exempt from the registration requirements of the Act and all applicable State Securities laws, or (ii) in violation of any law;

	
f)  

	
Subscriber has full power and authority to execute and deliver this Subscription Agreement and to perform the obligations hereunder; this Subscription Agreement is Subscriber’s legally binding obligation in accordance with its terms;

	
g)  

	
Subscriber has carefully read this Subscription Agreement and, to the extent Subscriber believed necessary, has discussed with counsel the representations, warranties and agreements which Subscriber is making herein and the limitations upon resale of the Securities.

 

  

3

  

 

7.  Indemnification

 

Subscriber acknowledges that Subscriber understands the meaning and legal consequences of the representations, warranties and acknowledgments made in Paragraph 6 and elsewhere in this Subscription Agreement, and hereby agrees to indemnify and hold harmless the Company, its officers, agents and representatives, from and against any and all loss, damage or liability due to or arising out of a breach of any representation or warranty of Subscriber contained in this Agreement.

8.  Revocation

 

Subscriber agrees that Subscriber shall not cancel, terminate or revoke this Agreement or any agreement of Subscriber made herein and that this Agreement shall survive the dissolution, termination, death or disability of Subscriber.

9.  Miscellaneous

	
(a)  

	
All notices or other communications given or made hereunder shall be in writing and shall be delivered or mailed by registered or certified mail, return receipt requested, postage prepaid, to Subscriber at the address set forth below and to the Company at the address set forth at the outset of this Agreement.

	
(b)  

	
This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof, may be amended only by a writing executed by all parties and may not be assigned by Subscriber.

	
(c)  

	
If this Agreement is executed and delivered on behalf of a partnership, corporation or trust, the signatory hereto represents and warrants to the Company that he has been duly authorized by Subscriber this Agreement and all other instruments executed and delivered on behalf of such partnership, corporation or trust in connection with Subscriber’s investment in the company, and the signature of such signatory is binding upon Subscriber.

	
(d)  

	
This Agreement contains the entire agreement of the parties regarding the subject matter hereof and supersedes all prior agreements relating thereto. The rights, powers and duties set forth herein shall be binding upon the Subscriber, its, estate, legal representatives, successors and assigns, and shall inure to the benefit of the Company, its successors and assigns.

 

  

4

  

 

IN WITNESS whereof, the subscriber has executed this Agreement on the date written below.

DATED: _________, 2014

	
NUMBER OF SHARE SUBSCRIBED

 

FOR:           __________________    

	
SUBSCRIPTION AMOUNT

$_____________ USD

 

NAME(S) IN WHICH SECURITIES SHOULD BE REGISTERED (if Securities are to be held by more than one owner, each tenant or other person involved must sign this signature page and all other subscription documents required to be signed by an individual purchaser):

 

(Please Print)

PARTNERSHIPS, CORPORATIONS, TRUSTS AND OTHER ENTITIES:

Printed Name of Subscriber

By: ___________________________________________________

    Signature of Authorized Representative

 

	 	SUBSCRIPTION ACCEPTED this _____ day of ________, 2014 

PERIYA CORP.

By: ____________________________________

 

  

5EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

AMENDMENT NO. 1 
 Dated as of
September 25, 2014 
 to 

CREDIT AGREEMENT 
 Dated as of
February 13, 2014 
 THIS AMENDMENT NO. 1 (“Amendment”) is made as of September 25, 2014 by and among YRC
Worldwide Inc. (the “Borrower”), the other Guarantors party to the Credit Agreement, the financial institutions listed on the signature pages hereof and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral
agent (the “Administrative Agent”), under that certain Credit Agreement dated as of February 13, 2014 by and among the Borrower, the Guarantors party thereto from time to time, the Lenders and the Administrative Agent (as
amended, amended and restated, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them
in the Credit Agreement. 
 WHEREAS, the Borrower and the Guarantors have requested that the Lenders and the Administrative Agent agree to
an amendment to the Credit Agreement; and 
 WHEREAS, the Lenders party hereto and the Administrative Agent have agreed to such amendment on
the terms and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions
contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Guarantors party hereto, the Lenders party hereto and the Administrative Agent have agreed to enter into
this Amendment. 
 1. Amendments to Credit Agreement. Effective as of the date of satisfaction or waiver of the conditions precedent
set forth in Section 2 below, the Credit Agreement is hereby amended as follows: 
 (a) The definition of “Applicable ECF
Percentage” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

““Applicable ECF Percentage” shall mean, for any Excess Cash Flow Period, (a) 75% if the Total Leverage Ratio as of
the last day of such Excess Cash Flow Period is greater than 4.00:1.00, (b) 50% if the Total Leverage Ratio as of the last day of such Excess Cash Flow Period is less than or equal to 4.00:1.00 and greater than 3.50:1.00, (c) 25% if the
Total Leverage Ratio as of the last day of such Excess Cash Flow Period is less than or equal to 3.50:1.00 but is greater than 3.00:1.00, and (d) 0% if the Total Leverage Ratio as of the last day of such Excess Cash Flow Period is less than or
equal to 3.00:1.00.” 

 (b) The definition of “Applicable Margin” in Section 1.01 of the Credit
Agreement is hereby amended and restated in its entirety as follows: 
 “Applicable Margin” shall mean, for any day
(a) from and after September 25, 2014 until the last day of the first fiscal quarter thereafter that the Borrower’s Total Leverage Ratio on a Pro Forma Basis is equal to or less than 3.25:1.00 (i) with respect to any
Eurodollar Term Loan, 7.25% per annum and (ii) with respect to any ABR Term Loan, 6.25% and (b) thereafter, (i) with respect to any Eurodollar Term Loan, 7.0% per annum and (ii) with respect to any ABR Term Loan,
6.0% per annum.” 
 (c) The definition of “Cumulative Credit” in Section 1.01 of the Credit Agreement is
hereby amended by adding a new sentence at the end thereof that reads as follows: 
 “Notwithstanding anything to the contrary in this
Agreement, the amount of the Cumulative Credit specified in clause (a) of this definition of Cumulative Credit shall only be available pursuant to Section 7.02(p)(y), clause (ii) of the first proviso of
Section 7.06(d), Section 7.06(e)(y) and Section 7.13(a)(vi)(y) if the Total Leverage Ratio at the time of determination is equal to or less than 4:00 to 1:00.” 

(d) Section 2.12(d) of the Credit Agreement is hereby amended by replacing each reference to “the Closing Date” with
“September 25, 2014”. 
 (e) Section 3.01 of the Credit Agreement is hereby amended by adding a new clause (h) as
follows: 
 “(h) Solely for purposes of determining withholding Taxes imposed under FATCA, from and after September 25, 2014, the
Borrower and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Loans as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation
Section 1.1471-2(b)(2)(i).” 
 (f) Section 7.06(e) of the Credit Agreement is hereby amended and restated in its
entirety as follows: 
 “(e) the Borrower may make Restricted Payments in an aggregate amount not to exceed (x) the greater of
(i) $30,000,000 and (ii) 2% of Consolidated Total Assets at the time of any such Restricted Payment, plus (y) the portion, if any, of the Cumulative Credit on such date that the Borrower elects to apply to this subclause (y);
provided, that with respect to any Restricted Payment made pursuant to this Section 7.06(e), (A) no Event of Default has occurred and is continuing or would result therefrom and (B) on a Pro Forma Basis after giving effect
thereto the Total Leverage Ratio is equal to or less than 4.00:1.00;” 
 (g) Section 7.10 of the Credit Agreement is hereby
amended and restated in its entirety as follows: 

  
 2 

 “Financial Covenant. The Borrower shall not permit the Total Leverage Ratio as of the
last day of any Test Period ending as of the end of each of its fiscal quarters, commencing with the fiscal quarter ending June 30, 2014, set forth below to exceed the applicable ratio set forth below: 

 

					
	 Test Period Ending
	  	Maximum Total Ratio	 
	 June 30, 2014
	  	 	6.00 to 1.0	  
	 September 30, 2014
	  	 	5.25 to 1.0	  
	 December 31, 2014
	  	 	5.25 to 1.0	  
	 March 31, 2015
	  	 	5.00 to 1.0	  
	 June 30, 2015
	  	 	4.75 to 1.0	  
	 September 30, 2015
	  	 	4.50 to 1.0	  
	 December 31, 2015
	  	 	4.25 to 1.0	  
	 March 31, 2016
	  	 	4.00 to 1.0	  
	 June 30, 2016
	  	 	3.75 to 1.0	  
	 September 30, 2016
	  	 	3.75 to 1.0	  
	 December 31, 2016
	  	 	3.50 to 1.0	  
	 March 31, 2017
	  	 	3.25 to 1.0	  
	 June 30, 2017
	  	 	3.25 to 1.0	  
	 September 30, 2017
	  	 	3.25 to 1.0	  
	 December 31, 2017 and thereafter
	  	 	3.00 to 1.0	” 

 2. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the conditions
precedent that (a) the Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrower, the Guarantors party hereto, the Required Lenders and the Administrative Agent, (b) the Borrower shall have paid
all fees and expenses of the Administrative Agent (including, without limitation, all previously invoiced, reasonable, out-of-pocket expenses of the Administrative Agent (including, to the extent invoiced, reasonable attorneys’ fees and
expenses, in each case to the extent reimbursable under the terms of the Credit Agreement)) in connection with this Amendment and the other Loan Documents, and (c) the Administrative Agent shall have received for the account of each Lender
which delivers its executed signature page hereto 5:00 p.m. (New York City time) on September 24, 2014 (or such later time as the Administrative Agent and the Borrower shall agree), an amendment fee equal to 0.25% of the amount of such
Lender’s outstanding Term Loans. 
 3. Representations and Warranties of the Borrower. Each of the Borrower and each of the
Guarantors party hereto hereby represents and warrants as follows as of the closing date of this Amendment: 
 (a) This Amendment has been
duly authorized, executed and delivered by the Borrower and each Guarantor and this Amendment and the Credit Agreement, as amended hereby, constitute legal, valid and binding obligations of the Borrower and the Guarantors and are enforceable against
the Borrower and the Guarantors in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless
of whether considered in a proceeding in equity or at law. 

  
 3 

 (b) As of the date hereof after giving effect to the terms of this Amendment, (i) no Default
has occurred and is continuing and (ii) the representations and warranties of the Borrower and the Guarantors set forth in the Credit Agreement, as amended hereby, are true and correct in all material respects on and as of the date hereof,
except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects on and as of such earlier date. 

4. Reference to and Effect on the Credit Agreement. 

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be
a reference to the Credit Agreement as amended hereby. This Amendment shall constitute a Loan Document. 
 (b) Except as specifically amended
above, the Credit Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 

(c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the
Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith. 

5. Acknowledgements. By executing this Amendment, each of the Loan Parties (a) consents to this Amendment and the performance by
the Borrower and each of the other Loan Parties of their obligations hereunder, (b) acknowledges that notwithstanding the execution and delivery of this Amendment, the obligations of each of the Loan Parties under each of the Collateral
Documents and each of the other Loan Documents to which such Loan Party is a party, are not impaired or affected and each such Collateral Agreement and each such other Loan Document continues in full force and effect and (c) affirms and
ratifies, to the extent it is a party thereto, each Collateral Document and each other Loan Document with respect to all of the Obligations as expanded or amended hereby. 

6. Governing Law. This Amendment shall be construed in accordance with and governed by the law of the State of New York. 

7. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part
of this Amendment for any other purpose. 

  
 4 

 8. Counterparts. This Amendment may be executed by one or more of the parties hereto on
any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered
in person. 
 [Signature Pages Follow] 

  
 5 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

			
	YRC WORLDWIDE INC.
		
	By:	 	  

	Name:
	Title:
	
	EXPRESS LANE SERVICE, INC.
		
	By:	 	  

	Name:
	Title:
	
	NEW PENN MOTOR EXPRESS, INC.
		
	By:	 	  

	Name:
	Title:
	
	ROADWAY EXPRESS INTERNATIONAL, INC.
		
	By:	 	  

	Name:
	Title:
	
	ROADWAY LLC
		
	By:	 	  

	Name:
	Title:
	
	ROADWAY NEXT DAY CORPORATION
		
	By:	 	  

	Name:
	Title:
	
	ROADWAY REVERSE LOGISTICS, INC.
		
	By:	 	  

	Name:
	Title:

  
 Signature Page to Consent
and Reaffirmation to Amendment No. 1 
 YRC Worldwide Inc. 

Credit Agreement dated as of February 13, 2014 

			
	USF BESTWAY INC.
		
	By:	 	  

	Name:
	Title:
	
	USF DUGAN INC.
		
	By:	 	  

	Name:
	Title:
	
	USF GLEN MOORE INC.
		
	By:	 	  

	Name:
	Title:
	
	USF HOLLAND INC.
		
	By:	 	  

	Name:
	Title:
	
	USF REDSTAR LLC
		
	By:	 	  

	Name:
	Title:
	
	USF REDDAWAY INC.
		
	By:	 	  

	Name:
	Title:

  
 Signature Page to Consent
and Reaffirmation to Amendment No. 1 
 YRC Worldwide Inc. 

Credit Agreement dated as of February 13, 2014 

 
			
	YRC ASSOCIATION SOLUTIONS, INC.
		
	By:	 	  

	Name:
	Title:
	
	YRC INC.
		
	By:	 	  

	Name:
	Title:
	
	YRC INTERNATIONAL INVESTMENTS, INC.
		
	By:	 	  

	Name:
	Title:
	
	YRC LOGISTICS SERVICES, INC.
		
	By:	 	  

	Name:
	Title:
	
	YRC MORTGAGES, LLC
		
	By:	 	  

	Name:
	Title:
	
	YRC ENTERPRISE SERVICES, INC.
		
	By:	 	  

	Name:
	Title:
	
	YRC REGIONAL TRANSPORTATION, INC.
		
	By:	 	  

	Name:
	Title:

  
 Signature Page to Consent
and Reaffirmation to Amendment No. 1 
 YRC Worldwide Inc. 

Credit Agreement dated as of February 13, 2014 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as Administrative Agent and as a Lender
		
	By:	 	  

	Name:
	Title:

  
 Signature Page to Consent
and Reaffirmation to Amendment No. 1 
 YRC Worldwide Inc. 

Credit Agreement dated as of February 13, 2014 

 
			
	[LENDER – PLEASE INSERT FULL LEGAL NAME IN CAPS AND DELETE BRACKETS PRIOR TO EXECUTION],
	as a Lender
		
	By:	 	  

	Name:
	Title:

  
 Signature Page to Consent
and Reaffirmation to Amendment No. 1 
 YRC Worldwide Inc. 

Credit Agreement dated as of February 13, 2014

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00235-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00235-of-00352.parquet"}]]