Document:

Exhibit
10.15

 

EYENOVIA,
INC.

2018 omnibus
STOCK INCENTIVE PLAN

 

RESTRICTED
STOCK AWARD AGREEMENT

 

This Restricted Stock
Award Agreement (this “Agreement”) is made by and between Eyenovia, Inc. (the “Company”)
and _____________________ (“Grantee”) effective as of the Date of Grant (as defined below). This Agreement sets
forth the terms and conditions associated with the Company’s award to Grantee of shares of Common Stock pursuant to the Eyenovia,
Inc. 2018 Omnibus Stock Incentive Plan (the “Plan”) for the number of Shares set forth below. Terms with initial
capitalized letters not explicitly defined in this Agreement but defined in the Plan will have the same definition and meaning
as in the Plan.

 

1.                 
Grant of Stock. The Company hereby agrees to issue to Grantee ____________________________ (#####) shares of Common
Stock (the “Shares”) effective as of _________ (the “Date of Grant”). All of the Shares received
by Grantee from the Company pursuant to this Agreement are subject to the terms of this Agreement, including but not limited to
an option by the Company to repurchase such Shares in certain cases. All references to the number of Shares will be appropriately
adjusted to reflect any stock split, stock dividend, or other change in capitalization that may be made by the Company after the
date of this Agreement, as provided in Section 13 of the Plan.

 

2.                 
Vesting. The Shares are unvested when granted, and will vest as described
on Exhibit A hereto, subject to Grantee’s Continuous Service with the Company or a Related Entity. Vesting will terminate
upon the termination of Grantee’s Continuous Service.

 

3.                 
Company’s Repurchase Option. In the event that a Triggering Event (as defined below) occurs, the Company will
have an option (the “Repurchase Option”) for a period of 90 days from the date of such event, to repurchase
any of the Shares that are not vested under the vesting schedule set forth on Exhibit A hereto as of the date of such Triggering
Event (the “Unvested Shares”) for no additional consideration. In the event that the Company elects to exercise
the Repurchase Option, it will be exercised by the Company by written notice to Grantee, which notice will specify the number of
Shares and the time (not later than 30 days from the date of the Company’s notice) and place for the closing of the repurchase
of the Shares. Upon delivery of such notice and payment of the purchase price, if any, in accordance with the terms herewith, the
Company will become the legal and beneficial owner of the Shares being repurchased and all rights and interests therein or relating
thereto, and the Company will have the right to retain and transfer to its own name the number of Shares being repurchased by the
Company. As used herein, the term “Triggering Event” means a termination of Grantee’s Continuous Service
with the Company or a Related Entity for any reason.

 

4.                 
Release of Shares from Repurchase Option. In the event the Repurchase
Option is triggered pursuant to a Triggering Event and the Company (or its assigns) fails to exercise the Company’s option
for the repurchase of any or all of the Shares then, upon the expiration of the 90-day option period, any and all such Shares not
repurchased by the Company will be released from the Repurchase Option. Upon the release of the Repurchase Option, any Unvested
Shares will immediately vest.

 

5.                 
Ownership Rights. Grantee, as beneficial owner of the Shares, will have full voting rights with respect to the Shares
during and after the vesting period, except to the extent repurchased pursuant to the Repurchase Option. Grantee will be entitled
to receive dividends with respect to Unvested Shares prior to the vesting of such Shares as follows: (a) any regular cash dividends
paid with respect to an Unvested Share will be retained by the Company and will be paid to Grantee, without interest, within thirty
(30) days after the associated Share vests as provided in Section 2 hereof, and will be forfeited if and when the associated Share
is repurchased, and (b) any property (other than cash) distributed with respect to an Unvested Share (including without limitation
a distribution of stock by reason of a stock dividend, stock split, or otherwise, or a distribution of other securities with respect
to an associated Share) will be subject to the restrictions of this Agreement in the same manner and for so long as the associated
Share remains subject to those restrictions, and will be forfeited if and when the associated Share is repurchased or will vest
if and when the associated Share vests. If any Shares are repurchased pursuant to the Repurchase Option, then, on the date of such
repurchase, Grantee will no longer have any rights as a stockholder with respect to such repurchased Shares or any interest therein.

 

     

    

    

 

6.                 
Conditions to Issuance of Shares.

 

(a)              
If required by the Administrator in its discretion, Grantee will execute a joinder agreement (in form acceptable to
the Administrator) such that Grantee will become a party to any stockholders agreement, investor rights agreement, or similar agreement
as may be entered into from time to time by and among the Company and the holders of the Company’s stock. Any such agreement
may contain restrictions on the transferability of the Shares (such as a right of first refusal or a prohibition on transfer) and
such shares may be subject to call rights and drag-along rights of the Company and certain of its stockholders. The Company will
also have any repurchase rights set forth in such agreements, the Plan or this Agreement, if any.

 

(b)             
No Shares will be issued pursuant to this Agreement unless and until all then applicable requirements imposed by federal
and state securities and other laws, rules and regulations and by any regulatory agencies having jurisdiction, and by any exchanges
upon which the Shares may be listed, have been fully met. The Company may impose such conditions on any Shares issuable pursuant
to this Agreement as it may deem advisable, including, without limitation, restrictions under the Securities Act of 1933, as amended,
under the requirements of any exchange upon which shares of the same class are then listed and under any blue sky or other securities
laws applicable to those Shares.

 

7.                 
Restrictive Legends. The Shares will bear appropriate legends as determined by the Company.

 

8.                 
Restrictions on Transfer. Except for (a) a transfer to a Permitted Transferee (as defined below) made in compliance
with the Applicable Laws, or (b) a transfer pursuant to the laws of descent and distribution upon Grantee’s death made in
compliance with the Applicable Laws, none of the Unvested Shares or any beneficial interest therein may be transferred, pledged,
hypothecated, encumbered or otherwise disposed of in any way. For purposes of this Agreement, “Permitted Transferee”
shall mean Grantee’s spouse, lineal ancestors or descendants, natural or adopted, and a spouse of a lineal ancestor or descendant,
or a trust for the sole benefit of such persons or any of them. All transferees of Shares or any interest therein (including Permitted
Transferees) will receive and hold such Shares or interest subject to the provisions of this Agreement, and will agree in writing
to take such Shares or interest therein subject to all the terms of this Agreement, including restrictions on further transfer.
Any sale or transfer of the Company’s Shares will be void unless the provisions of this Agreement are met.

 

9.                 
Tax Consequences.

 

(a)              
Grantee has reviewed with Grantee’s own tax advisors the federal, state, local and foreign (if applicable) tax
consequences of the grant of the Shares and the transactions contemplated by this Agreement. Grantee is relying solely on such
advisors and not on any statements or representations of the Company or any of its agents. Grantee (and not the Company) will be
responsible for Grantee’s own tax liability that may arise as a result of this investment or the transactions contemplated
by this Agreement.

 

(b)             
Grantee understands that Section 83 of the Code taxes as ordinary income the difference between the amount paid for
the Shares and the fair market value of the Shares as of the date any restrictions on the Shares lapse. Grantee understands that
he/she may elect to be taxed at the time the Shares are received rather than when and as the Repurchase Option expires by filing
an election under Section 83(b) of the Code with the I.R.S. within 30 days from the date of transfer of the Shares. If Grantee
makes any tax election relating to the treatment of the Shares under the Code, at the time of such election Grantee will promptly
notify the Company of such election.

 

(c)              
GRANTEE ACKNOWLEDGES THAT IT IS GRANTEE’S SOLE RESPONSIBILITY AND NOT THE COMPANY’S OR ITS REPRESENTATIVES’
TO FILE TIMELY THE ELECTION UNDER SECTION 83(b), EVEN IF GRANTEE REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING
ON GRANTEE’S BEHALF.

 

    

    

    

 

(d)             
Grantee understands that, at the time that the Shares are granted, or at the time of vesting, Grantee may incur tax
obligations under federal, state, local, and/or foreign law, and the Company may be required to withhold amounts from Grantee’s
compensation or otherwise collect from Grantee related to such obligations. Grantee agrees that the Company (or a Related Entity)
may satisfy such withholding obligations relating to the Shares by any of the following means or by a combination of such means,
in the Company’s discretion: (i) withholding from any compensation otherwise payable to Grantee by the Company; (ii) causing
Grantee to tender a cash payment; or (iii) withholding Shares with a Fair Market Value (measured as of the date the tax withholding
obligations are to be determined) equal to the amount of such tax withholding obligations from the Shares otherwise issuable to
Grantee; provided, however, that the number of such Shares so withheld will not exceed the amount necessary to satisfy the Company’s
required tax withholding obligations using the applicable statutory withholding rates for federal, state, local and foreign tax
purposes, including payroll taxes as determined by the Administrator (or such lesser amount as may be necessary to avoid classification
of the Shares as a liability for financial accounting purposes). Grantee understands that all matters with respect to the total
amount of taxes to be withheld in respect of such compensation income will be determined by the Company in its reasonable discretion.
Grantee further understands that, although the Company will pay withheld amounts to the applicable taxing authorities, Grantee
remains responsible for payment of all taxes due as a result of income arising under the Agreement.

 

10.             
Award Not a Service Contract. This Agreement is not employment or service
contract, and nothing in this Agreement creates or will be deemed to create in any way whatsoever any obligation on Grantee’s
part to continue in the service of the Company or a Related Entity, or of the Company or a Related Entity to continue Grantee’s
service.

 

11.             
Governing Plan Document. This Agreement is subject to all the provisions
of the Plan, the provisions of which are hereby made a part of this Agreement, and is further subject to all interpretations, amendments,
rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict
between the provisions of this Agreement and those of the Plan, the provisions of the Plan shall control.

 

12.             
Miscellaneous. 

 

(a)              
Notices. Any notice, demand or request required or permitted to be given pursuant to the terms of this Agreement
shall be in writing and shall be deemed given when delivered personally, one day after deposit with a recognized international
delivery service (such as FedEx), or three days after deposit in the U.S. mail, first class, certified or registered, return receipt
requested, with postage prepaid, in each case addressed to the parties at the addresses of the parties set forth at the end of
this Agreement or such other address as a party may designate by notifying the other in writing.

 

(b)             
Successors and Assigns. The rights and obligations of the Company and Grantee hereunder will be binding upon,
inure to the benefit of and be enforceable against their respective successors and assigns, legal representatives and heirs. Whenever
the Company has the right to repurchase Shares hereunder, whether pursuant to the Repurchase Option or otherwise, the Company may
designate and assign to one or more assignees the right to exercise all or part of the Company’s repurchase rights under
this Agreement to purchase all or a part of such Shares.

 

(c)              
Severability. The provisions of this Agreement are severable, and if any one or more provisions are determined
to be illegal or otherwise unenforceable, in whole or in part, then the remaining provisions will nevertheless be binding and enforceable.

 

(d)             
Amendment. Except as otherwise provided in the Plan, this Agreement will not be amended unless the amendment
is agreed to in writing by both Grantee and the Company.

 

(e)              
Choice of Law. This Agreement shall be construed and enforced in accordance with and governed by the laws of
the State of Delaware, without giving effect to the choice of law rules of any jurisdiction.

 

(f)               
Entire Agreement. This Agreement, along with the Plan, constitutes the entire agreement between the parties hereto
with regard to the subject matter hereof, and supersedes any other agreements, representations or understandings (whether oral
or written and whether express or implied) that relate to such subject matter.

 

    2

    

    

 

IN WITNESS WHEREOF, the
Company and Grantee have executed this Restricted Stock Award Agreement effective as of the Date of Grant.

 

	 	COMPANY:
	 	 	 	 
	 	Eyenovia, Inc.
	 	 	 	 
	 	By:	 	 
	 	Name:	    	 
	 	Title:	 	 
	 	 	 	 
	 	Address: 	         	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	GRANTEE:
	 	 	 	 
	 	[NAME]
	 	 	 	 
	 	 	 (SEAL)
	 	 	 	 
	 	Address:	 	 
	 	 	 	 
	 	 	 	 

 

    3

    

    

 

EXHIBIT
A

 

VESTING SCHEDULE

 

The
Shares are unvested when granted, and will vest as described below, subject to Grantee’s Continuous Service with the Company
or a Related Entity through the applicable vesting dates. Vesting will terminate upon the termination of Grantee’s Continuous
Service.

 

For
purposes of this Exhibit A, the “Vesting Commencement Date” is __________.

 

[Add
vesting schedule]ex_116401.htm

Exhibit 10.1

Execution Version

 

2018 REPLACEMENT TERM LOAN AMENDMENT

 

2018 REPLACEMENT TERM LOAN AMENDMENT, dated as of June 8, 2018 (this “Agreement”), to that certain Credit Agreement, dated as of February 9, 2012, as amended and restated as of May 30, 2012, as further amended and restated as of May 31, 2013, as amended by the First Amendment dated as of May 18, 2015, as amended by the Replacement Term Loan Amendment dated as of November 2, 2016, as amended by the 2017 Replacement Term Loan Amendment dated as of May 11, 2017 and as amended by the 2017-2 Replacement Term Loan Amendment dated as of December 8, 2017 (the “Credit Agreement”), among Generac Acquisition Corp., a Delaware corporation (“Holdings”), Generac Power Systems, Inc., a Wisconsin corporation (the “Borrower”), the several lenders from time to time party thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and the other agents and parties party thereto.

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain loans and other extensions of credit to the Borrower;

 

WHEREAS, the Borrower has requested (i) that the Lenders effect certain modifications to the Credit Agreement as described herein (the Credit Agreement, as so modified hereby, the “Amended Credit Agreement”), and (ii) that the outstanding Term Loans be replaced with a new term loan B facility (the “2018 Replacement Term Loan Facility”) by obtaining 2018 Replacement Term Loan Commitments (as defined in Section 3 of this Agreement) and having existing Term Loans be continued, pursuant to a cashless roll, in each case, as provided herein;

 

WHEREAS, the loans under the 2018 Replacement Term Loan Facility (the “2018 New Term Loans”) will replace and refinance the currently outstanding Term Loans and are collectively intended to be Replacement Term Loans, as contemplated in Section 9.08(d) of the Credit Agreement;

 

WHEREAS, the 2018 New Term Loans will have the terms set forth in the Amended Credit Agreement;

 

WHEREAS, Bank of America, N.A. and Goldman Sachs Bank USA are the syndication agents for the 2018 Replacement Term Loan Facility, Deutsche Bank Securities Inc., Morgan Stanley Senior Funding, Inc. and Wells Fargo Bank, N.A. are the documentation agents for the 2018 Replacement Term Loan Facility, and JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman Sachs Bank USA, Deutsche Bank Securities Inc. and Morgan Stanley Senior Funding, Inc. are the joint lead arrangers and joint bookrunners for the 2018 Replacement Term Loan Facility;

 

WHEREAS, each existing Lender that executes and delivers a lender addendum signature page to this Agreement (substantially in the form attached hereto) in such capacity (a “Continuing Term Lender Addendum”) and in connection therewith agrees to continue all of its Existing Term Loans (as defined below) as 2018 New Term Loans (such continued Term Loans, the “Continued Term Loans”, and such Lenders, collectively, the “Continuing Term Lenders”) will thereby (i) agree to the terms of this Agreement and (ii) agree to continue, pursuant to a cashless roll, all of its existing Term Loans (all existing Term Loans outstanding under the Credit Agreement, the “Existing Term Loans”, and the Lenders of such Existing Term Loans, collectively, the “Existing Term Lenders”) outstanding on the Effective Date (as defined below) as 2018 New Term Loans in a principal amount not more than the aggregate principal amount of such Existing Term Loans so continued (it being understood that the principal amount of Existing Term Loans so continued shall be determined by the Administrative Agent and notified to such Existing Term Lender as set forth in Section 3.3);

 

 

 

 

WHEREAS, subject to the preceding recitals, each Person (other than a Continuing Term Lender in its capacity as such) that executes and delivers a lender addendum signature page to this Agreement (substantially in the form attached hereto) (a “Replacement Term Lender Addendum”) and agrees in connection therewith to provide its 2018 New Term Loan (collectively, the “Replacement Term Lenders”) will thereby (i) agree to the terms of this Agreement and (ii) commit to provide its 2018 New Term Loan on the Effective Date (the “Replacement Term Loans”) in such amount (not in excess of any such commitment) as is determined by the Administrative Agent and notified to such Replacement Term Lender;

 

WHEREAS, the proceeds of the Replacement Term Loans will be used to repay in full the outstanding principal amount of the Existing Term Loans that are not continued as 2018 New Term Loans by Continuing Term Lenders (the “Non-Continuing Term Loans”);

 

WHEREAS, the Continuing Term Lenders and the Replacement Term Lenders (collectively, the “2018 Term Lenders”) are severally willing to continue their Existing Term Loans as Continued Term Loans and/or to provide Replacement Term Loans, as the case may be, subject to the terms and conditions set forth in the Credit Agreement, this Agreement and the Amended Credit Agreement, as applicable; and

 

WHEREAS, the 2018 Term Lenders and the Administrative Agent are willing to agree to this Agreement on the terms set forth herein;

 

NOW THEREFORE, in consideration of the premises and mutual covenants hereinafter set forth, the parties hereto agree as follows:

 

SECTION 1.     Definitions. Except as otherwise defined herein, all capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Amended Credit Agreement.

 

SECTION 2.     Amendments to the Credit Agreement. The Credit Agreement is hereby amended, effective immediately after the provision of, or the continuation of Existing Term Loans as, as applicable, 2018 New Term Loans on the Effective Date, as follows:

 

2.1. Amendments to Section 1.01. Section 1.01 of the Credit Agreement is hereby amended as follows:

 

(a)     The definition of “Applicable Margin” is hereby amended and restated in its entirety as follows:

 

“Applicable Margin” shall mean (a) for ABR Loans, 0.75% and (b) for Eurodollar Loans, 1.75%.

 

(b)     The definition of “Commitment” is hereby amended and restated in its entirety as follows:

 

“Commitment” shall mean with respect to any Lender, the obligation of such Lender, if any, to:

 

(i) make an Existing Term Loan to the Borrower hereunder on the Second Restatement Date in accordance with the Restatement Agreement, expressed as an amount representing the maximum principal amount of the Term Loan to be made by such Lender, which aggregate amount of the Commitments on the Second Restatement Date was $1.2 billion,

 

2

 

 

(ii) provide, or to continue its Existing Term Loans as, as applicable, a 2016 New Term Loan to the Borrower on the 2016 Replacement Term Loan Amendment Effective Date in accordance with the 2016 Replacement Term Loan Amendment, expressed as an amount representing the maximum principal amount of the 2016 New Term Loan to be made by such Lender hereunder, which aggregate amount of the Commitments on the 2016 Replacement Term Loan Amendment Effective Date was $929 million,

 

(iii) provide, or to continue its Existing Term Loans as, as applicable, a 2017 New Term Loan to the Borrower on the 2017 Replacement Term Loan Amendment Effective Date in accordance with the 2017 Replacement Term Loan Amendment, expressed as an amount representing the maximum principal amount of the 2017 New Term Loan to be made by such Lender hereunder, which aggregate amount of the Commitments on the 2017 Replacement Term Loan Amendment Effective Date was $929 million,

 

(iv) provide, or to continue its Existing Term Loans as, as applicable, a 2017-2 New Term Loan to the Borrower on the 2017-2 Replacement Term Loan Amendment Effective Date in accordance with the 2017-2 Replacement Term Loan Amendment, expressed as an amount representing the maximum principal amount of the 2017-2 New Term Loan to be made by such Lender hereunder, which aggregate amount of the Commitments on the 2017-2 Replacement Term Loan Amendment Effective Date was $929 million, and

 

(v) provide, or to continue its Existing Term Loans as, as applicable, a 2018 New Term Loan to the Borrower on the 2018 Replacement Term Loan Amendment Effective Date in accordance with the 2018 Replacement Term Loan Amendment, expressed as an amount representing the maximum principal amount of the 2018 New Term Loan to be made by such Lender hereunder, which aggregate amount of the Commitments on the 2018 Replacement Term Loan Amendment Effective Date is $879 million.

 

The amount of each Term Lender’s Commitment on the Second Restatement Date is its “New Term Loan Commitment” as defined in the Restatement Agreement. The amount of each Term Lender’s Commitment on the 2016 Replacement Term Loan Amendment Effective Date is its 2016 Replacement Term Loan Commitment. The amount of each Term Lender’s Commitment on the 2017 Replacement Term Loan Amendment Effective Date is its 2017 Replacement Term Loan Commitment. The amount of each Term Lender’s Commitment on the 2017-2 Replacement Term Loan Amendment Effective Date is its 2017-2 Replacement Term Loan Commitment. The amount of each Term Lender’s Commitment on the 2018 Replacement Term Loan Amendment Effective Date is its 2018 Replacement Term Loan Commitment. For all purposes hereunder, from and after the 2016 Replacement Term Loan Amendment Effective Date until the 2017 Replacement Term Loan Amendment Effective Date, each reference to a “Commitment” in this Agreement and in the Loan Documents shall be deemed to include the commitments to provide, or to continue Existing Term Loans as, the 2016 New Term Loans. For all purposes hereunder, from and after the 2017 Replacement Term Loan Amendment Effective Date until the 2017-2 Replacement Term Loan Amendment Effective Date, each reference to a “Commitment” in this Agreement and in the Loan Documents shall be deemed to include the commitments to provide, or to continue Existing Term Loans as, the 2017 New Term Loans. For all purposes hereunder, from and after the 2017-2 Replacement Term Loan Amendment Effective Date until the 2018 Replacement Term Loan Amendment Effective Date, each reference to a “Commitment” in this Agreement and in the Loan Documents shall be deemed to include the commitments to provide, or to continue Existing Term Loans as, the 2017-2 New Term Loans. For all purposes hereunder, from and after the 2018 Replacement Term Loan Amendment Effective Date, each reference to a “Commitment” in this Agreement and in the Loan Documents shall be deemed to include the commitments to provide, or to continue Existing Term Loans as, the 2018 New Term Loans

 

3

 

 

(c)     The definition of “ERISA Affiliate” is hereby amended by adding the text “or Section 4001(a)(14) of ERISA” immediately after the text “Section 414(b) or (c) of the Code.”

 

(d)     The definition of “ERISA Event” is hereby amended by deleting the text “in Reorganization” immediately after the text “or is expected to be, Insolvent” in subsection (f) thereof.

 

(e)     The definition of “Lender” is hereby amended and restated in its entirety as follows:

 

“Lender” shall mean (i) each New Term Lender (as defined in the Restatement Agreement) (other than any such person that has ceased to be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04), (ii) each financial institution or other entity that is listed on the signature pages of the 2016 Replacement Term Loan Amendment as a “Continuing Term Lender” and/or “Replacement Term Lender,” as applicable (other than any such Person that has ceased to be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04), (iii) each financial institution or other entity that is listed on the signature pages of the 2017 Replacement Term Loan Amendment as a “Continuing Term Lender” and/or “Replacement Term Lender,” as applicable (other than any such Person that has ceased to be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04), (iv) each financial institution or other entity that is listed on the signature pages of the 2017-2 Replacement Term Loan Amendment as a “Continuing Term Lender” and/or “Replacement Term Lender,” as applicable (other than any such Person that has ceased to be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04), (v) each financial institution or other entity that is listed on the signature pages of the 2018 Replacement Term Loan Amendment as a “Continuing Term Lender” and/or “Replacement Term Lender,” as applicable (other than any such Person that has ceased to be a party hereto pursuant to an Assignment and Acceptance in accordance with Section 9.04) and (vi) any other person that becomes a “Lender” hereunder in accordance with Section 9.04.

 

(f)     The definition of “Term Loans” is hereby amended and restated in its entirety as follows:

 

“Term Loans” shall mean (i) the Existing Term Loans that were made by the Lenders to the Borrower on the Second Restatement Date pursuant to Section 2.01, (ii) the 2016 New Term Loans, (iii) the 2017 Term Loans, (iv) the 2017-2 Term Loans and (v) the 2018 Term Loans, as context may require. On and after the 2016 Replacement Term Loan Amendment Effective Date until the 2017 Replacement Term Loan Amendment Effective Date, each reference to a “Term Loan” in this Agreement and in the other Loan Documents shall be deemed to include the 2016 New Term Loans, except as the context may otherwise require. On and after the 2017 Replacement Term Loan Amendment Effective Date until the 2017-2 Replacement Term Loan Amendment Effective Date, each reference to a “Term Loan” in this Agreement and in the other Loan Documents shall be deemed to include the 2017 New Term Loans, except as the context may otherwise require. On and after the 2017-2 Replacement Term Loan Amendment Effective Date until the 2018 Replacement Term Loan Effective Date, each reference to a “Term Loan” in this Agreement and in the other Loan Documents shall be deemed to include the 2017-2 New Term Loans, except as the context may otherwise require. On and after the 2018 Replacement Term Loan Effective Date, each reference to a “Term Loan” in this Agreement and in the other Loan Documents shall be deemed to include the 2018 New Term Loans, except as the context may otherwise require.

 

4

 

 

The following new definitions shall be inserted in their proper alphabetical order:

 

“2018 New Term Loans” shall have the meaning set forth in Section 2.01.

 

“2018 Replacement Term Loan Amendment” shall mean the Replacement Term Loan Amendment, dated as of the 2018 Replacement Term Loan Amendment Effective Date, among Holdings, the Borrower, the other Loan Parties party thereto, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.

 

“2018 Replacement Term Loan Amendment Effective Date” shall mean June 8, 2018.

 

“2018 Replacement Term Loan Facility” shall have the meaning set forth in the 2018 Replacement Term Loan Amendment.

 

“2018 Replacement Term Loan Commitment” shall have the meaning set forth in the 2018 Replacement Term Loan Amendment.

 

The following definition shall be deleted:

 

“Reorganization” shall mean, with respect to any Multiemployer Plan, the condition that such plan is in reorganization within the meaning of Section 4241 of ERISA.

 

2.2. Amendment to Section 2.01. Section 2.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

On the Second Restatement Date, each Lender made Term Loans to the Borrower (the “Existing Term Loans”) in the original aggregate principal amount of $1.2 billion. Subject to the terms and conditions set forth in the 2016 Replacement Term Loan Amendment, on the 2016 Replacement Term Loan Amendment Effective Date, each 2016 New Term Lender agreed to provide or continue its Existing Term Loans pursuant to a cashless roll, as applicable, its Term Loans (such provided or continued Term Loans, collectively, the “2016 New Term Loans”) in a principal amount equal to its 2016 Replacement Term Loan Commitment. Subject to the terms and conditions set forth in the 2017 Replacement Term Loan Amendment, on the 2017 Replacement Term Loan Amendment Effective Date, each 2017 New Term Lender agreed to provide or continue its Existing Term Loans pursuant to a cashless roll, as applicable, its Term Loans (such provided or continued Term Loans, collectively, the “2017 New Term Loans”) in a principal amount equal to its 2017 Replacement Term Loan Commitment. Subject to the terms and conditions set forth in the 2017-2 Replacement Term Loan Amendment, on the 2017-2 Replacement Term Loan Amendment Effective Date, each 2017-2 New Term Lender agrees to and shall provide or continue its Existing Term Loans pursuant to a cashless roll, as applicable, its Term Loans (such provided or continued Term Loans, collectively, the “2017-2 New Term Loans”) in a principal amount not to exceed its 2017-2 Replacement Term Loan Commitment. Subject to the terms and conditions set forth in the 2018 Replacement Term Loan Amendment, on the 2018 Replacement Term Loan Amendment Effective Date, each 2018 New Term Lender agrees to and shall provide or continue its Existing Term Loans pursuant to a cashless roll, as applicable, its Term Loans (such provided or continued Term Loans, collectively, the “2018 New Term Loans”) in a principal amount not to exceed its 2018 Replacement Term Loan Commitment.

 

5

 

 

2.3. Amendment to Section 2.02(a). Section 2.02(a) of the Credit Agreement is hereby amended by adding immediately before the final sentence thereof the sentence “On the 2018 Replacement Term Loan Amendment Effective Date, the 2018 New Term Loans shall constitute, on the terms provided in the 2018 Replacement Term Loan Amendment, Term Loans hereunder.”.

 

2.4. Amendment to Section 2.10. Section 2.10(a) of the Credit Agreement is hereby amended by replacing the text “on the 2017-2 Replacement Term Loan Amendment Effective Date” with “on the 2018 Replacement Term Loan Amendment Effective Date.”

 

2.5. Amendment to Section 2.11. Section 2.11 of the Credit Agreement is hereby amended by deleting the text “(i) any prepayment of Term Loans made or (ii) any amendment to the Loan Documents in respect of the Term Loans, in each case on or prior to the date that is the six-month anniversary of the 2017-2 Replacement Term Loan Amendment Effective Date and in connection with a Repricing Transaction” in subsection (a) thereof and substituting in lieu thereof the text “(i) any prepayment of Term Loans made or (ii) any amendment to the Loan Documents in respect of the Term Loans, in each case on or prior to the date that is the six-month anniversary of the 2018 Replacement Term Loan Amendment Effective Date and in connection with a Repricing Transaction”.

 

2.6. Amendment to Section 2.17. Section 2.17 of the Credit Agreement is hereby amended by (i) adding the text “and” immediately after the text “the Administrative Agent” in subsection (a)(i) thereof, (ii) adding the text “or IRS Form W-8BEN-E” immediately after the text “IRS Form W-8BEN” in subsections (e)(ii)(B)(i)(x), (e)(ii)(B)(i)(y) and (e)(ii)(B)(iii)(y) thereof and (iii) adding the text “IRS Form W-8BEN-E” immediately after the text “IRS Form W-8BEN” in subsection (e)(ii)(B)(iv) thereof.

 

2.7. Amendment to Section 2.19(c). Section 2.19(c) of the Credit Agreement is hereby amended by deleting the text “the date that is the six-month anniversary of the 2017-2 Replacement Term Loan Amendment Effective Date as a result of a Repricing Transaction” in subsection (d) thereof and substituting in lieu thereof the text “the date that is the six-month anniversary of the 2018 Replacement Term Loan Amendment Effective Date as a result of a Repricing Transaction”.

 

2.8. Amendment to Section 6.01(j). Section 6.01(j) of the Credit Agreement is hereby amended by (i) adding the text “or any of its Restricted Subsidiaries” immediately after the text “Indebtedness of the Borrower” and (ii) replacing the text “$250.0 million” with “$300.0 million” in subsection (i) thereof.

 

2.9. Amendment to Section 6.02(b). Section 6.02(b) of the Credit Agreement is hereby amended by deleting clause (iv) thereof and substituting in lieu thereof the following new clause (iv): “(iv) subject to the Intercreditor Agreement, Liens on assets of the Loan Parties securing Indebtedness permitted by Section 6.01(j)”.

 

2.10. Amendment to Article VIII. Article VIII of the Credit Agreement is hereby amended by adding the following as a new Section 8.12 therein:

 

6

 

 

8.12.  Certain ERISA Matters. Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, and each Agent and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any of its Subsidiaries, that at least one of the following is and will be true:

 

(a)     such Lender is not using “plan assets” (within the meaning of the Plan Asset Regulations) of one or more Benefit Plans in connection with the Loans or the Commitments,

 

(b)     the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, and the conditions for exemptive relief thereunder are and will continue to be satisfied in connection therewith,

 

(c)     (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or

 

(d)     such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.

 

(b)     In addition, unless sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, and each Agent and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any of its Subsidiaries, that:

 

(a)     none of the Administrative Agent, or any Agent or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto),

 

(b)     the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21, as amended from time to time) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E),

 

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(c)     the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including in respect of the obligations),

 

(d)     the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Commitments and this Agreement and is responsible for exercising independent judgment in evaluating the transactions hereunder, and

 

(e)     no fee or other compensation is being paid directly to the Administrative Agent, or any Agent or any their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Commitments or this Agreement.

 

(c)     The Administrative Agent, and each Agent hereby informs the Lenders that each such Person is not undertaking to provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans or the Commitments for an amount less than the amount being paid for an interest in the Loans or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.

 

For purposes of this Section 8.12, the following definitions apply to each of the capitalized terms below:

 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code, to which Section 4975 of the Code applies or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.

 

“Plan Asset Regulations” means 29 CFR § 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time.

 

“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.

 

8

 

 

SECTION 3.     2018 New Term Loans; Allocations and Reallocations.

 

3.1. Each (a) Replacement Term Lender, by executing a Replacement Term Lender Addendum, and (b) Continuing Term Lender, by executing a Continuing Term Lender Addendum, consents to the amendments to the Credit Agreement set forth in this Agreement.

 

3.2. Subject to the terms and conditions set forth herein (i) each Continuing Term Lender agrees to continue, pursuant to a cashless roll, all of its Existing Term Loans as a Continued Term Loan on the date requested by the Borrower to be the Effective Date in a principal amount equal to such Continuing Term Lender’s Continuing Term Loan Commitment (as defined below) and (ii) each Replacement Term Lender agrees to provide its Replacement Term Loan on such date in a principal amount equal to such Replacement Term Lender’s Replacement Term Loan Commitment (as defined below). The Borrower shall give notice to the Administrative Agent of the proposed Effective Date not later than one Business Day prior thereto, and the Administrative Agent shall notify each Continuing Term Lender and each Replacement Term Lender thereof.

 

3.3. Each Replacement Term Lender will provide its Replacement Term Loan on the Effective Date by making available to the Administrative Agent, in the manner contemplated by the Amended Credit Agreement or as otherwise arranged by the Administrative Agent and such Replacement Lenders, an amount equal to its Replacement Term Loan Commitment. The “Replacement Term Loan Commitment” of any Replacement Term Lender will be such amount (not exceeding any commitment offered by such Replacement Term Lender) allocated to it by the Administrative Agent and notified to it on or prior to the Effective Date. The “Continuing Term Loan Commitment” of any Continuing Term Lender will be the amount of its Existing Term Loans as set forth in the Register immediately prior to giving effect to the Effective Date (or such lesser amount as allocated to it by the Administrative Agent and notified to it on or prior to the Effective Date), which shall be continued as an equal amount of Continued Term Loans (it being understood that no cash will be advanced as part of any continuation of Continued Term Loans). Replacement Term Loan Commitments and Continuing Term Loan Commitments are collectively referred to herein as the “2018 Replacement Term Loan Commitment”. The commitments of the Replacement Term Lenders and the continuation undertakings of the Continuing Term Lenders are several and no such Lender will be responsible for any other such Lender’s failure to provide, or continue its Existing Term Loans as, as applicable, its 2018 New Term Loan. The 2018 New Term Loans may from time to time be ABR Loans or Eurodollar Loans, as determined by the Borrower and notified to the Administrative Agent as contemplated by Sections 2.02 and 2.07 of the Amended Credit Agreement. Upon the provision of, or the continuation of the Existing Term Loans as, as applicable, 2018 New Term Loans on the Effective Date, the 2018 New Term Loans shall be ABR Loans or Eurodollar Loans, as the case may be, of the same Type and with the Interest Period(s) that were applicable to the Existing Term Loans immediately prior to the Effective Date uninterrupted thereby with the initial Interest Period(s) applicable to the 2018 New Term Loans equal to the remaining length of such Existing Term Loans’ Interest Period(s). Accrued and unpaid interest in respect of Continued Term Loans shall be paid on the applicable Interest Payment Date in respect of such Loan (and not, for the avoidance of doubt, on the Effective Date).

 

3.4. The obligation of each 2018 Term Lender to provide, or continue its Existing Term Loans as, as applicable, its 2018 New Term Loans on the Effective Date is subject to the satisfaction of the conditions set forth in Section 4 of this Agreement.

 

3.5. On and after the Effective Date, each reference in the Amended Credit Agreement to “Term Loans” shall be deemed a reference to the 2018 New Term Loans contemplated hereby, except as the context may otherwise require.

 

3.6. The Lenders hereby agree to waive the notice requirements of Sections 2.10(c) and 2.11 of the Amended Credit Agreement (which notice is otherwise hereby deemed to be effectively given to the Administrative Agent) in connection with the prepayment of Term Loans and the prepayment or replacement of Existing Term Loans contemplated hereby. The Continuing Term Lenders, constituting Required Lenders immediately prior to the Effective Date, hereby agree to waive the breakage costs provisions of Section 2.16 of the Credit Agreement in connection with the prepayment or replacement of Existing Term Loans contemplated hereby.

 

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SECTION 4.     Effectiveness. This Agreement shall become effective, and the provision of, or the continuation of Existing Term Loans as, as applicable, the 2018 New Term Loans shall occur, as of the date (the “Effective Date”) on which the conditions set forth below have been satisfied:

 

4.1. At the time of and immediately after giving effect to the Effective Date and the provision of, or the continuation of Existing Term Loans as, as applicable, 2018 New Term Loans on the Effective Date, no Default or Event of Default shall have occurred and be continuing.

 

4.2. The Administrative Agent (or its counsel) shall have received from (i) the Borrower, Holdings, the other Loan Parties (the Borrower, Holdings and such other Loan Parties, collectively, the “Reaffirming Parties”) and (ii) the 2018 Term Lenders either (x) a counterpart of this Agreement signed on behalf of such party or (y) written evidence satisfactory to the Administrative Agent (which may include fax or other electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement.

 

4.3. The Administrative Agent shall have received, on behalf of itself and the Lenders on the Effective Date, a customary written opinion of (x) Sidley Austin LLP, special counsel for Holdings and the Borrower and (y) Reinhart Boerner Van Dueren S.C., Wisconsin counsel for the Borrower, (A) dated the Effective Date, (B) addressed to the Administrative Agent and the Lenders on the Effective Date and (C) in form and substance reasonably satisfactory to the Administrative Agent consistent with those delivered on the 2017-2 Replacement Term Loan Amendment Effective Date (other than changes to such legal opinion resulting from change in law, fact or change to counsel’s form of opinion), and each of Holdings and the Borrower hereby instructs its counsel to deliver such opinions.

 

4.4. The Administrative Agent shall have received in the case of each Loan Party each of the items referred to in clauses (a), (b), (c) and (d) below:

 

(a)     a copy of the certificate or articles of incorporation, certificate of limited partnership or certificate of formation, including all amendments thereto, of each Loan Party, certified as of a recent date by the Secretary of State (or other similar official) of the jurisdiction of its organization, and a certificate as to the good standing (to the extent such concept or a similar concept exists under the laws of such jurisdiction) of each such Loan Party as of a recent date from such Secretary of State (or other similar official);

 

(b)     a certificate of the secretary or assistant secretary or similar officer of each Loan Party dated the Effective Date and certifying:

 

(i) that attached thereto is a true and complete copy of the bylaws (or limited partnership agreement, limited liability company agreement or other equivalent governing documents) of such Loan Party as in effect on the Effective Date,

 

(ii) that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors (or equivalent governing body) of such Loan Party (or its managing general partner or managing member) authorizing the execution, delivery and performance of this Agreement and that such resolutions have not been modified, rescinded or amended and are in full force and effect on the Effective Date,

 

10

 

 

(iii) that the certificate or articles of incorporation, certificate of limited partnership or certificate of formation of such Loan Party has not been amended since the date of the last amendment thereto disclosed pursuant to clause (i) above,

 

(iv) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of such Loan Party, and

 

(v) as to the absence of any pending proceeding for the dissolution or liquidation of such Loan Party;

 

(c)     a certificate of another officer as to the incumbency and specimen signature of the Secretary or Assistant Secretary or similar officer executing the certificate pursuant to clause (b) above; and

 

(d)     a certificate of a Responsible Officer of Holdings or the Borrower certifying that as of the Effective Date (i) all the representations and warranties set forth in the Credit Agreement are true and correct to the extent set forth therein on and as of the Effective Date except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date and (ii) that as of the Effective Date, no Default or Event of Default has occurred and is continuing or would result from the provision of, or the continuation of Existing Term Loans as, as applicable, 2018 New Term Loans on the Effective Date.

 

4.5. (i) The Collateral and Guarantee Requirement continues to be satisfied, (ii) the Administrative Agent shall have received the results of a search of the Uniform Commercial Code (or equivalent) filings made with respect to the Loan Parties and copies of the financing statements (or similar documents) disclosed by such search and (iii) the Administrative Agent shall have received evidence reasonably satisfactory to the Administrative Agent that the Liens indicated by such financing statements (or similar documents) are either permitted by Section 6.02 of the Amended Credit Agreement or have been released (or authorized for release in a manner reasonably satisfactory to the Administrative Agent).

 

4.6. The Lenders shall have received, in each case in accordance with Section 5.04 of the Credit Agreement, the financial statements and other financial information referred to in Sections 5.04(a), (b), (c), (d) and (e) of the Credit Agreement.

 

4.7. The Administrative Agent shall have received all fees payable thereto or to any Lender on or prior to the Effective Date and, to the extent invoiced, all other amounts due and payable pursuant to the Loan Documents on or prior to the Effective Date (including accrued interest in respect of the Non-Continuing Term Loans), including, to the extent invoiced, reimbursement or payment of all reasonable out-of-pocket expenses (including reasonable fees, charges and disbursements of Simpson Thacher & Bartlett LLP) required to be reimbursed or paid by the Loan Parties under the Credit Agreement or under any other Loan Document.

 

4.8. To the extent requested by the Administrative Agent not less than two (2) days prior to the Effective Date, the Administrative Agent shall have received, at least one (1) day prior to the Effective Date, all documentation and other information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the USA PATRIOT Act.

 

11

 

 

Each 2018 Term Lender, by delivering its signature page to this Agreement and providing, or continuing its Existing Term Loans as, as applicable, its 2018 New Term Loan on the Effective Date shall be deemed to have acknowledged receipt of and consented to and approved each Loan Document and each other document required to be approved by the Administrative Agent or any Lender, as applicable, on the Effective Date.

 

SECTION 5.     Representations and Warranties. To induce the other parties hereto to enter into this Agreement, each of the Reaffirming Parties represents and warrants to each of the 2018 Term Lenders and the Administrative Agent that:

 

5.1. This Agreement has been duly authorized, executed and delivered by it and this Agreement and the Amended Credit Agreement constitute its valid and binding obligation, enforceable against it in accordance with its 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; and

 

5.2. (a) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents is true and correct to the extent set forth therein on and as of the Effective Date as if made on such date except to the extent any such representation and warranty is expressly made only as of a prior date, in which case such representation and warranty shall have been true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such prior date and (b) no Default or Event of Default has occurred and is continuing or would result from the provision of, or the continuation of Existing Term Loans as, as applicable, 2018 New Term Loans on the Effective Date.

 

SECTION 6.     Effect of Amendment.

 

6.1. Except as expressly set forth herein, this Agreement shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Credit Agreement, the Amended Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or of any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Amended Credit Agreement or any other Loan Document in similar or different circumstances.

 

6.2. On and after the Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each reference to the Credit Agreement in any other Loan Document shall be deemed a reference to the Amended Credit Agreement. This Agreement shall constitute a “Loan Document” for all purposes of the Amended Credit Agreement and the other Loan Documents.

 

12

 

 

SECTION 7.     Legal Opinions Regarding Mortgages. The Borrower shall, within 90 days of the Effective Date (or such later date as may be agreed to by the Administrative Agent), deliver to the Administrative Agent, executed legal opinions from counsel to the Borrower, which opine that, after giving effect to this Agreement, each Mortgage encumbering each Mortgaged Property owned or leased by the Borrower or a Subsidiary Guarantor as of the Effective Date continues in full force and effect and is effective to secure the 2018 Replacement Term Loan Facility, and that no filing or recording of any amendment or confirmation is required in connection therewith, in each case in form and substance reasonably satisfactory to the Administrative Agent; provided, however, that such legal opinions may include customary assumptions and exceptions in accordance with customary opinion practice.

 

SECTION 8.     General.

 

8.1. GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

8.2. Costs and Expenses. The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with the preparation, negotiation and execution of this Agreement, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent in accordance with Section 9.05 of the Amended Credit Agreement.

 

8.3.  Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of any executed counterpart of a signature page of this Agreement by telecopy or email transmission shall be effective as delivery of a manually executed counterpart of this Agreement.

 

8.4. Headings. Article and Section headings are used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement.

 

8.5. Reaffirmation. The parties hereto confirm that this Agreement is not intended, nor shall it be deemed or construed, to effect a novation of any liens or indebtedness under the Credit Agreement or to terminate or release any liens, security interests or contractual or legal rights securing all or any part of such indebtedness. Furthermore, each of the Reaffirming Parties hereby:  

 

(a)     consents to this Agreement and the transactions contemplated hereby and hereby confirms its guarantees, pledges, grants of security interests, acknowledgments, obligations and consents under the Collateral Agreement and the other Security Documents and the other Loan Documents to which it is a party and agrees that notwithstanding the effectiveness of this Agreement and the consummation of the transactions contemplated hereby, such guarantees, pledges, grants of security interests, acknowledgments, obligations and consents shall be, and continue to be, in full force and effect except as expressly set forth herein,  

 

(b)     ratifies the Security Documents and the other Loan Documents to which it is a party,  

 

(c)     confirms that all of the Liens and security interests created and arising under the Security Documents to which it is a party remain in full force and effect on a continuous basis, unimpaired, uninterrupted and undischarged, and having the same perfected status and priority as collateral security for the Obligations as existed prior to giving effect to this Agreement,  

 

(d)     agrees that each of the representations and warranties made by each Reaffirming Party in the Security Documents to which it is a party is true and correct as to it in all material respects on and as of the date hereof (except to the extent any such representation or warranty expressly relates to a prior date, in which case such representation or warranty was true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such prior date), and  

 

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(e)     agrees that it shall take any action reasonably requested by the Administrative Agent in order to confirm or effect the intent of this Agreement.

 

[remainder of page intentionally left blank]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their respective duly authorized officers as of the day and year first above written.

 

	
			 

				
			GENERAC ACQUISITION CORP.

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

	
			 

				GENERAL POWER SYSTEMS, INC.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

	
			 

				GENERAC MOBILE PRODUCTS, LLC	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

	
			 

				MAC, INC.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

	
			 

				CHP HOLDINGS, INC.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

	
			 

				COUNTRY HOME PRODUCTS, INC.	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

Signature Page to 2018 Replacement Term Loan Amendment

 

 

 

	
			 

				ROUTE 22A & 1 MAIN LLC	
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

Signature Page to 2018 Replacement Term Loan Amendment

 

 

 

	
			 

				
			JPMORGAN CHASE BANK, N.A., as Administrative

			Agent

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			 

				
			Name:

				
			 

			
	
			 

				
			 

				
			Title:

				
			 

			

 

 

Signature Page to 2018 Replacement Term Loan Amendment

 

 

 

CONTINUING TERM LENDER ADDENDUM TO THE

2018 REPLACEMENT TERM LOAN AMENDMENT IN RESPECT OF THE

CREDIT AGREEMENT DATED AS OF FEBRUARY 9, 2012,

AS AMENDED AND RESTATED AS OF MAY 30, 2012

AS FURTHER AMENDED AND RESTATED AS OF MAY 31, 2013

AS FURTHER AMENDED AS OF MAY 18, 2015

AS FURTHER AMENDED AS OF NOVEMBER 2, 2016

AS FURTHER AMENDED AS OF MAY 11, 2017

AS FURTHER AMENDED AS OF DECEMBER 8, 2017

 

This Lender Addendum (this “Continuing Term Lender Addendum”) is referred to in, and is a signature page to, the 2018 Replacement Term Loan Amendment (the “Agreement”) to that certain Credit Agreement dated as of February 9, 2012, as amended and restated as of May 30, 2012, as further amended and restated as of May 31, 2013, as further amended by the First Amendment dated as of May 18, 2015, as further amended by the Replacement Term Loan Amendment dated as of November 2, 2016, as further amended by the 2017 Replacement Term Loan Amendment dated as of May 11, 2017, and as further amended by the 2017-2 Replacement Term Loan Amendment dated as of December 8, 2017 (the “Credit Agreement”), among Generac Acquisition Corp., a Delaware corporation (“Holdings”), Generac Power Systems, Inc., a Wisconsin corporation (the “Borrower”), the several lenders from time to time party thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”), and the other agents and parties party thereto. Capitalized terms used but not defined in this Continuing Term Lender Addendum have the meanings assigned to such terms in the Agreement or the Credit Agreement, as applicable.

 

By executing this Continuing Term Lender Addendum, the undersigned institution agrees (A) to the terms of the Agreement and the Credit Agreement as amended thereby (the “Amended Credit Agreement”) and (B) on the terms and subject to the conditions set forth in the Agreement and the Amended Credit Agreement, to continue its Existing Term Loans as 2018 New Term Loans on the Effective Date in the amount of its 2018 New Term Loan Commitment (it being understood that such continuation shall be effected pursuant to a cashless roll).

 

	
			Name of Institution:   

				 	 
	 	 

 

 

 

 

	Executing as a Continuing Term Lender1:	 	 	 
	 	 	 	 	 	 
	 	By:	 	 	 	 
	 	 	Name:	 	 	 
	 	 	Title:	 	 	 
	 	 	 	 	 	 
	For any institution requiring a second signature line:	 	 	 
	 	 	 	 	 	 
	 	By:	 	 	 	 
	 	 	Name:	 	 	 
	 	 	Title:	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

 

 

1  In no event shall any Lender be able to continue/roll more than their allocation, which allocation shall be at the discretion of the Administrative Agent

 

 

Signature Page to 2018 Replacement Term Loan Amendment

 

 

 

REPLACEMENT TERM LENDER ADDENDUM TO THE

2018 REPLACEMENT TERM LOAN AMENDMENT IN RESPECT OF THE

CREDIT AGREEMENT DATED AS OF FEBRUARY 9, 2012,

AS AMENDED AND RESTATED AS OF MAY 30, 2012

AS FURTHER AMENDED AND RESTATED AS OF MAY 31, 2013

AS FURTHER AMENDED AS OF MAY 18, 2015

AS FURTHER AMENDED AS OF NOVEMBER 2, 2016

AS FURTHER AMENDED AS OF MAY 11, 2017

AS FURTHER AMENDED AS OF DECEMBER 8, 2017

 

This Lender Addendum (this “Replacement Term Lender Addendum”) is referred to in, and is a signature page to, the 2018 Replacement Term Loan Amendment (the “Agreement”) to that certain Credit Agreement dated as of February 9, 2012, as amended and restated as of May 30, 2012, as further amended and restated as of May 31, 2013, as further amended by the First Amendment dated as of May 18, 2015, as further amended by the Replacement Term Loan Amendment dated as of November 2, 2016, as further amended by the 2017 Replacement Term Loan Amendment dated as of May 11, 2017, and as further amended by the 2017-2 Replacement Term Loan Amendment dated as of December 8, 2017 (the “Credit Agreement”), among Generac Acquisition Corp., a Delaware corporation (“Holdings”), Generac Power Systems, Inc., a Wisconsin corporation (the “Borrower”), the several lenders from time to time party thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”), and the other agents and parties party thereto. Capitalized terms used but not defined in this Replacement Term Lender Addendum have the meanings assigned to such terms in the Agreement or the Credit Agreement, as applicable.

 

By executing this Replacement Term Lender Addendum as a Replacement Term Lender, the undersigned institution agrees (A) to the terms of the Agreement and the Credit Agreement as amended thereby (the “Amended Credit Agreement”) and (B) on the terms and subject to the conditions set forth in the Agreement and the Amended Credit Agreement, to provide 2018 New Term Loans on the Effective Date in the amount of such Replacement Term Lender’s 2018 New Term Loan Commitment.

 

	
			Name of 

				 	 
	Institution:  	 	 

 

	Executing as a Replacement Term Lender:	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	For any institution requiring a second signature line:	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:

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