Document:

Exhibit 10.6

 

Execution Version

 

AMENDMENT NO. 2 TO
 SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (“Amendment”) dated as of September 29, 2017, by and among DIPLOMAT PHARMACY, INC., a Michigan corporation (“Borrower”), the other Credit Parties signatory hereto, HEALTHCARE FINANCIAL SOLUTIONS, LLC, a Delaware limited liability company (successor to General Electric Capital Corporation), as agent (in such capacity, “Agent”) for the lenders (collectively, “Lenders”) from time to time party to the Credit Agreement (as defined below), and the Lenders.

 

RECITALS

 

A.                                    Borrower, the other Credit Parties signatory thereto, Agent and Lenders are parties to the Second Amended and Restated Credit Agreement dated as of April 1, 2015, as amended by Amendment No. 1 thereto dated as of April 27, 2016 (the “Credit Agreement”), pursuant to which Lenders agreed to provide certain financial accommodations to or for the benefit of Borrower and the other Credit Parties upon the terms and conditions contained therein. Unless otherwise defined herein, capitalized terms or matters of construction defined or established in the Credit Agreement shall be applied herein as defined or established therein.

 

B.                                    Credit Parties have requested that Agent and Lenders amend the covenant in Section 5.12 of the Credit Agreement regarding Change in Business as more fully provided herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the continued performance by Borrower and the other Credit Parties of their promises and obligations under the Credit Agreement and the other Loan Documents, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower, the other Credit Parties, Agent and Required Lenders hereby agree as follows:

 

1.                                      Ratification and Incorporation of Credit Agreement and Other Loan Documents. Except as expressly modified under this Amendment, (a) each Credit Party hereby acknowledges, confirms, and ratifies all of the terms and conditions set forth in, and all of its obligations under, the Credit Agreement and the other Loan Documents, and (b) all of the terms and conditions set forth in the Credit Agreement and the other Loan Documents are incorporated herein by this reference as if set forth in full herein. Each Credit Party represents that it has no offset, defense, counterclaim, dispute or disagreement of any kind or nature whatsoever with respect to the amount of such Indebtedness.

 

2.                                      Amendment of Credit Agreement. Section 5.12 of the Credit Agreement is hereby amended and restated in its entirety as follows:

 

“5.12 Change in Business. No Credit Party shall, and no Credit Party shall permit any of its Subsidiaries to, engage in any line of business different from those lines of business carried on by it on the Closing Date and similar or related businesses or reasonable extensions thereof and businesses ancillary or incidental thereto.”

 

 

3.                                      Conditions to Effectiveness. The effectiveness of this Amendment is subject to the following conditions precedent and shall become effective on the date (the “Amendment No. 2 Effective Date”) on which such conditions are satisfied:

 

(a)                                 the Agent shall have received copies of the Amendment duly executed by Borrower, the other Credit Parties and Required Lenders; and

 

(b)                                 the representations and warranties in Section 5 of this Amendment shall be true and correct as of the Amendment No. 2 Effective Date.

 

4.                                      Entire Agreement. This Amendment, together with the Credit Agreement and the other Loan Documents, is the entire agreement between the parties hereto with respect to the subject matter hereof. This Amendment supersedes all prior and contemporaneous oral and written agreements and discussions with respect to the subject matter hereof. Except as otherwise expressly modified herein, the Loan Documents shall remain in full force and effect.

 

5.                                      Representations and Warranties. The Credit Parties, jointly and severally, hereby represent and warrant that the representations and warranties contained in the Credit Agreement were true and correct in all material respects when made and, except to the extent that (a) a particular representation or warranty by its terms expressly applies only to an earlier date, or (b) any Credit Party has previously advised Agent in writing as contemplated under the Credit Agreement, are true and correct in all material respects as of the date hereof.

 

6.                                      Release. Each Credit Party hereby irrevocably releases and forever discharges each Indemnitee of and from all damages, losses, claims, demands, liabilities, obligations, actions or causes of action whatsoever (each a “claim”) that such Credit Party may now have or claim to have against any Indemnitee on the date hereof, whether known or unknown, of every nature and extent whatsoever, for or because of any matter or thing done, omitted or suffered to be done or omitted by any of the Released Persons that both (a) occurred prior to or on the date hereof and (b) is on account of or in any way concerning, arising out of or founded upon the Credit Agreement or any other Loan Document, or Agent’s administration of and actions under the Credit Agreement or any other Loan Document (each, a “Released Claim”).

 

Each Credit Party acknowledges that it may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such Released Claims, and agrees that this Amendment and the above release are and will remain effective in all respects as a release of Released Claims notwithstanding any such differences or additional facts. Without limiting the restrictions on any Credit Party to sell or assign any rights under the Credit Agreement and the other Loan Documents, each Credit Party represents and warrants that it has not heretofore sold, assigned, transferred, pledged hypothecated or purported to have sold, assigned, transferred, pledged or hypothecated any Released Claim. Each Credit Party further represents and warrants that Credit Parties are the sole Credit Parties under the Credit Agreement and the other Loan Documents and are the sole owner and holder of all Released Claims.

 

7.                                      Miscellaneous.

 

7.1                               Expenses. Borrower agrees to pay on demand all reasonable costs and expenses of Agent (including reasonable attorneys’ fees) incurred in connection with the

 

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preparation, negotiation, execution, delivery and administration of this Amendment and all other instruments or documents provided for herein or delivered or to be delivered hereunder or in connection herewith. All obligations provided herein shall survive any termination of this Amendment and the Credit Agreement as amended hereby.

 

7.2                               Counterparts. This Amendment may be executed in identical counterpart copies, each of which shall be an original, but all of which shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart thereof.

 

7.3                               Headings. Section headings used herein are for convenience of reference only, are not part of this Amendment, and are not to be taken into consideration in interpreting this Amendment.

 

7.4                               Recitals. The recitals set forth at the beginning of this Amendment are true and correct, and such recitals are incorporated into and are a part of this Amendment.

 

7.5                               Governing Law. This Amendment shall be governed by, and construed and enforced in accordance with, the laws of the State of New York applicable to contracts made and performed in such state, without regard to the principles thereof regarding conflict of laws.

 

7.6                               Effect. Upon the effectiveness of this Amendment, from and after the date hereof, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” or words of like import shall mean and be a reference to Credit Agreement as amended hereby, and each reference in the other Loan Documents to “the Credit Agreement,” “thereunder,” “thereof,” or words of like import shall mean and be a reference to the Credit Agreement as amended hereby.

 

7.7                               No Novation. Except as expressly provided in Sections 2 and 3 above, the execution, delivery, and effectiveness of this Amendment shall not (a) limit, impair, constitute a waiver of, or otherwise affect any right, power, or remedy of Agent or any Lender under the Credit Agreement or any other Loan Document, (b) constitute a waiver of any provision in the Credit Agreement or in any of the other Loan Documents, or (c) alter, modify, amend, or in any way affect any of the terms, conditions, obligations, covenants, or agreements contained in the Credit Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect.

 

7.8                               Conflict of Terms. In the event of any inconsistency between the provisions of this Amendment and any provision of the Credit Agreement, the terms and provisions of this Amendment shall govern and control.

 

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IN WITNESS WHEREOF, this Amendment No. 2 to Second Amended and Restated Credit Agreement has been duly executed as of the date first written above.

 

	
 
    	
DIPLOMAT PHARMACY, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Philip R. Hagerman
    
	
 
    	
 
    	
Name: Philip R. Hagerman
    
	
 
    	
 
    	
Title: Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
DIPLOMAT   SPECIALTY PHARMACY OF FLINT, LLC

DIPLOMAT   SPECIALTY PHARMACY OF GRAND RAPIDS, LLC

DIPLOMAT   SPECIALTY PHARMACY OF CHICAGO, LLC

DIPLOMAT   SPECIALTY PHARMACY OF FT. LAUDERDALE, LLC

DIPLOMAT   SPECIALTY PHARMACY OF SOUTHERN CALIFORNIA, LLC

DIPLOMAT   SPECIALTY PHARMACY GREAT LAKES DISTRIBUTION CENTER, LLC

DIPLOMAT   CORPORATE PROPERTIES, LLC

NAVIGATOR   HEALTH SERVICES, LLC
    
	
 
    	
 
    
	
 
    	
By: Diplomat Pharmacy, Inc., its member
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Philip R. Hagerman
    
	
 
    	
Name:
    	
Philip R. Hagerman
    
	
 
    	
Title:
    	
Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
DSP FLINT REAL ESTATE, LLC
   DSP-BUILDING C, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Philip R. Hagerman
    
	
 
    	
Name:
    	
Philip R. Hagerman
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
ACCURATE RX PHARMACY   CONSULTING, LLC
   ACCURATE ADVANTAGE, LLC
   AFFINITY BIOTECH, INC.
   COMFORT INFUSION, INC.
   FOCUS RX INC.
   FOCUS RX PHARMACY SERVICES INC.
   WRB COMMUNICATIONS, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Philip R. Hagerman
    
	
 
    	
Name:
    	
Philip R. Hagerman
    
	
 
    	
Title:
    	
Secretary and Treasurer
    
				

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
MEDPRO RX, INC.

AMERICAN   HOMECARE FEDERATION, INC.

DIPLOMAT   BLOCKER, INC

DIPLOMAT SPECIALTY PHARMACY OF   LOS ANGELES COUNTY, INC. (formerly Valley Campus Pharmacy, Inc.)

DIPLOMAT SPECIALTY PHARMACY OF PHILADELPHIA,   LLC

DIPLOMAT SPECIALTY PHARMACY OF BOOTHWYN,   LLC

PHARMTRACK, LLC

AT-HOME IV INFUSION   PROFESSIONAL, INC.

XAS INFUSION SUITES, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Joel Saban
    
	
 
    	
Name:
    	
Joel Saban
    
	
 
    	
Title:
    	
President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
ENVOY HEALTH MANAGEMENT, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Joel Saban
    
	
 
    	
Name:
    	
Joel Saban
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
BIORX, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Philip Rielly
    
	
 
    	
Name:
    	
Philip Rielly
    
	
 
    	
Title:
    	
President
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
HEALTHCARE FINANCIAL SOLUTIONS, LLC,
 as Agent, Swingline Lender and   as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:  
    	
/s/ Karen M. Dahlquist
    
	
 
    	
Name: 
    	
Karen M. Dahlquist
    
	
 
    	
Title: 
    	
Duly Authorized Signatory
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
Bank of America, N.A.
    as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Lori Egan
    
	
 
    	
Name:
    	
Lori Egan
    
	
 
    	
Title:
    	
SVP
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
CHEMICAL BANK,
    as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Brian Banning
    
	
 
    	
Name:
    	
Brian Banning
    
	
 
    	
Title:
    	
Senior Vice President
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
Citizens Bank, N.A.,
    as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Mark Guyeski
    
	
 
    	
Name:
    	
Mark Guyeski
    
	
 
    	
Title:
    	
AVP Portfolio Manager
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
Comerica Bank,
    as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael Cliff
    
	
 
    	
Name:
    	
Michael Cliff
    
	
 
    	
Title:
    	
Vice President
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
 as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Christopher Day
    
	
 
    	
 
    	
Name:
    	
Christopher Day
    
	
 
    	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Joan Park
    
	
 
    	
 
    	
Name:
    	
Joan Park
    
	
 
    	
 
    	
Title:
    	
Authorized Signatory
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
DEUTSCHE BANK AG NEW YORK BRANCH,
    as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Marcus Tarkington
    
	
 
    	
 
    	
Name:
    	
Marcus Tarkington
    
	
 
    	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Auca Trifan
    
	
 
    	
 
    	
Name:
    	
Auca Trifan
    
	
 
    	
 
    	
Title:
    	
Managing Director
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
FIFTH THIRD BANK,
    as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Nathaniel E. Sher
    
	
 
    	
 
    	
Nathaniel E. Sher
    
	
 
    	
 
    	
Director
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
FLAGSTAR BANK, FSB,
    as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Elizabeth K. Hausman
    
	
 
    	
 
    	
Name:
    	
Elizabeth K. Hausman
    
	
 
    	
 
    	
Title:
    	
First Vice President
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
The Huntington National Bank,
    as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Josephine C. Wisniewski
    
	
 
    	
 
    	
Name:
    	
Josephine C. Wisniewski
    
	
 
    	
 
    	
Title:
    	
Vice President
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
JPMorgan Chase Bank, N.A., Co-Syndication   Agent and, as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Diane Forrest
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    	
Diane Forrest
    
	
 
    	
 
    	
Title:
    	
Authorized   Officer
    

 

 

	
 
    	
 
    	
Address for   Notices:
    
	
 
    	
 
    	
1116 W. Long Lake Road,
    
	
 
    	
 
    	
2nd Floor
    
	
 
    	
 
    	
Bloomfield Hills, MI 48302
    
	
 
    	
 
    	
Attn: Diane Forrest
    
	
 
    	
 
    	
Fax: 248-636-1376
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Lending Office:
    
	
 
    	
 
    	
Same as above
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
MORGAN STANLEY SENIOR FUNDING, INC.,
    as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Alice Lee
    
	
 
    	
 
    	
Name:
    	
Alice Lee
    
	
 
    	
 
    	
Title:
    	
Vice President
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
MUFG UNION BANK, N.A.,
    as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Brian McNany
    
	
 
    	
 
    	
Name:
    	
Brian McNany
    
	
 
    	
 
    	
Title:
    	
Director
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]

 

 

	
 
    	
 
    	
Wells Fargo Bank, N.A.
    as a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Scott Sanford
    
	
 
    	
 
    	
Name:
    	
Scott Sanford
    
	
 
    	
 
    	
Title:
    	
Duly Authorized Signatory
    

 

[SIGNATURE PAGE TO AMENDMENT NO. 2 TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT]EX-10.1

 Exhibit 10.1 

SECOND AMENDMENT TO CREDIT AGREEMENT 

This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of November 2, 2017, is by and
among (a) SILVER SPRING NETWORKS, INC., a Delaware corporation (the “Borrower”), (b) each of the lenders listed on the signature pages hereto, and (c) SILICON VALLEY BANK
(“SVB”), as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and as Swingline Lender and Issuing Lender. 

W I T N E S S E T H: 

WHEREAS, reference is hereby made to that certain Credit Agreement, dated as of December 18, 2015, as amended by that certain
First Amendment to Credit Agreement, dated as of June 3, 2016 (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to time, the “Credit Agreement”), by and
among, among others, (i) the Borrower, (ii) the banks and other financial institutions or entities from time to time party thereto (each a “Lender” and, collectively, the “Lenders”), and
(iii) the Administrative Agent; and 
 WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend
certain terms and conditions of the Credit Agreement. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 1.    Capitalized Terms. All
capitalized terms used herein and not otherwise defined shall have the same meaning herein as in the Credit Agreement. 

2.    Amendments to Section 1.1 of the Credit Agreement. 

(a)    The definition of “Revolving Termination Date” is hereby amended and restated as follows:

 “Revolving Termination Date”: June 18, 2018. 

3.    Conditions Precedent to Effectiveness. This Amendment shall not be effective until each of the following
conditions precedent have been fulfilled to the satisfaction of the Administrative Agent: 
 (a)    This Amendment shall
have been duly executed and delivered by the respective parties hereto. The Administrative Agent shall have received a fully executed copy hereof. 

(b)    All necessary consents and approvals to this Amendment shall have been obtained. 

(c)    After giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing. 

(d)    The Administrative Agent shall have received in immediately available funds (i) an amendment fee, for the pro
rata account of each Lender (including SVB), in an aggregate amount equal to $93,750.00, and (ii) an administration fee, for the account of the Administrative Agent, in an amount equal to 60% of the Administration Fee (as defined in the Fee
Letter), in each case, which shall be deemed fully earned as of the date hereof and shall not be refundable under any circumstances or subjected to reduction by way of setoff or counterclaim. 

 (e)    The Administrative Agent shall have received the fees, costs and
expenses required to be paid pursuant to Section 8 of this Amendment. 
 4.    Representations and
Warranties. Each Loan Party hereby represents and warrants to the Administrative Agent and the Lenders as follows: 

(a)    This Amendment is, and each other Loan Document to which it is or will be a party, when executed and delivered by
each Loan Party that is a party thereto, will be the legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except as enforcement may be limited by equitable principles
or by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally and general equitable principals (whether enforcement is sought by proceedings in equity or at law). 

(b)    The representations and warranties set forth in this Amendment, Section 4 of the Credit Agreement, as amended
by this Amendment and after giving effect hereto, and the other Loan Documents to which it is a party are (i) to the extent qualified by materiality, true and correct in all respects and (ii) to the extent not qualified by materiality,
true and correct in all material respects, in each case, on and as of the date hereof, as though made on such date (except to the extent (i) that such representations and warranties relate solely to an earlier date, in which case such
representations and warranties shall have been true and correct in all material respects as of such earlier date, and (ii) that such representations and warranties relate to ongoing patent infringement suits, for which the Borrower provides
updated information in the Borrower’s most recent quarterly or annual report, as applicable, filed with the Securities and Exchange Commission). 

(c)    The execution and delivery by each Loan Party of this Amendment and the performance by each Loan Party of its
obligations under the Credit Agreement and the other Loan Documents, as amended by this Amendment, (i) have been duly authorized by all necessary organizational action on the part of such Loan Party and (ii) will not (A) violate any
provisions of the certificate of incorporation or formation or organization or by-laws or limited liability company agreement or limited partnership agreement of such Loan Party or (B) constitute a
violation by such Loan Party of any applicable material Requirement of Law. 
 Each Loan Party acknowledges that the Administrative Agent,
the Issuing Lender and the Lenders have acted in good faith and have conducted in a commercially reasonable manner its relationships with each Loan Party in connection with this Amendment and in connection with the other Loan Documents. Each Loan
Party understands and acknowledges that the Administrative Agent, the Issuing Lender and the Lenders are entering into this Amendment in reliance upon, and in partial consideration for, the above representations, warranties, and acknowledgements,
and agrees that such reliance is reasonable and appropriate. 
 5.    Payment of Costs and Expenses. The Borrower
shall pay to the Administrative Agent all reasonable costs and out-of-pocket expenses of every kind in connection with the preparation, negotiation, execution and
delivery of this Amendment and any documents and instruments relating hereto or thereto (which costs include, without limitation, the reasonable and documented fees and expenses of any attorneys retained by the Administrative Agent). 

6.    Choice of Law. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED
BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. Each party hereto submits to the exclusive jurisdiction of the State and Federal courts in the Southern District of the State of New York;
provided, however, that nothing in the Credit Agreement as amended 

  
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by this Amendment shall be deemed to operate to preclude the Administrative Agent or any Lender from bringing suit or taking other legal action in any other jurisdiction to realize on the
Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of the Administrative Agent or such Lender. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO WAIVES ITS RIGHT TO A JURY TRIAL
OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AMENDMENT, THE OTHER LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS
A MATERIAL INDUCEMENT TO ENTER INTO THIS AMENDMENT. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION
WITH LEGAL COUNSEL.  
 7.    Counterpart Execution. This Amendment may be executed in any number of
counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Amendment. Delivery of an
executed counterpart of this Amendment by telefacsimile or by e-mail transmission of an Adobe file format document (also known as a PDF file) shall be equally as effective as delivery of an original executed
counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by telefacsimile or by e-mail transmission of an Adobe file format document (also known as a PDF file) also shall
deliver an original executed counterpart of this Amendment but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment. 

8.    Effect on Loan Documents. 

(a)    The amendments set forth herein shall be limited precisely as written and shall not be deemed: (i) to be a
forbearance, waiver, or modification of any other term or condition of the Credit Agreement or of any Loan Documents or to prejudice any right or remedy which the Administrative Agent or any Lender may now have or may have in the future under or in
connection with the Loan Documents; (ii) to be a consent to any future consent or modification, forbearance, or waiver to the Credit Agreement or any other Loan Document, or to any waiver of any of the provisions thereof; or (iii) to limit
or impair the Administrative Agent’s or any Lender’s right to demand strict performance of all terms and covenants as of any date. Each Loan Party hereby ratifies and reaffirms its obligations under the Credit Agreement and the other Loan
Documents to which it is a party and agrees that none of the amendments or modifications to the Credit Agreement set forth in this Amendment shall impair such Loan Party’s obligations under the Loan Documents or the Administrative Agent’s
or any Lender’s rights under the Loan Documents. Each Loan Party hereby further ratifies and reaffirms the validity and enforceability of all of the Liens heretofore granted, pursuant to and in connection with the Guarantee and Collateral
Agreement or any other Loan Document to the Administrative Agent on behalf and for the benefit of the Secured Parties, as collateral security for the obligations under the Loan Documents, in accordance with their respective terms, and acknowledges
that all of such Liens, and all collateral heretofore pledged as security for such obligations, continues to be and remain collateral for such obligations from and after the date hereof. Each Loan Party acknowledges and agrees that the Credit
Agreement and each other Loan Document is still in full force and effect and acknowledges as of the date hereof that such Loan Party has no defenses to enforcement of the Loan Documents. Each Loan Party waives any and all defenses to enforcement of
the Credit Agreement as amended hereby and each other Loan Documents as amended hereby that might otherwise be available as a result of this Amendment. To the extent any terms or provisions of this Amendment conflict with those of the Credit
Agreement or other Loan Documents, the terms and provisions of this Amendment shall control. 

  
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 (b)    To the extent that any terms and conditions in any of the Loan
Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions
of the Credit Agreement as modified or amended hereby. 
 (c)    This Amendment is a Loan Document. 

9.    Entire Agreement. This Amendment constitutes the entire agreement between the Loan Parties and the Lenders
pertaining to the subject matter contained herein and supersedes all prior agreements, understandings, offers and negotiations, oral or written, with respect hereto and no extrinsic evidence whatsoever may be introduced in any judicial or
arbitration proceeding, if any, involving this Amendment. All of the terms and provisions of this Amendment are hereby incorporated by reference into the Credit Agreement, as applicable, as if such terms and provisions were set forth in full
therein, as applicable. All references in the Credit Agreement to “this Agreement”, “hereto”, “hereof”, “hereunder” or words of like import shall mean the Credit Agreement, as applicable, as amended hereby.

 10.    Severability. The provisions of this Amendment are severable, and if any clause or provision shall be
held invalid or unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision, or part thereof, in such jurisdiction and shall not in any manner affect such clause or
provision in any other jurisdiction, or any other clause or provision in this Amendment in any jurisdiction. 
 [SIGNATURE PAGES
FOLLOW] 

  
 4 

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

 

			
	BORROWER:
	
	 SILVER SPRING NETWORKS, INC.,

as the Borrower

		
	By:	 	 /s/ Catriona Fallon

		
	Name:	 	 Catriona Fallon

		
	Title:	 	 CFO

  
  

  
 Second Amendment to
Credit Agreement 

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

 

			
	BORROWER:
	
	 SILVER SPRING NETWORKS, INC.,

as the Borrower

		
	By:	 	 /s/ James L. Callahan

		
	Name:	 	 James L. Callahan

		
	Title:	 	 Treasurer

  
  

  
 Second Amendment to
Credit Agreement 

 
			
	 SILICON VALLEY BANK,
 as
Administrative Agent, as a Lender, as Issuing Lender and as Swingline Lender

		
	By:	 	 /s/ Mona M. Maitra

		
	Name:	 	 Mona Maitra

		
	Title:	 	 Vice President

  
  

  
 Second Amendment to
Credit Agreement 

 
			
	 HSBC BANK USA, NATIONAL ASSOCIATION,

as a Lender

		
	By:	 	 /s/ William Turner

		
	Name:	 	 William Turner

		
	Title:	 	 Global Relationship Manager

  
  

  
 Second Amendment to
Credit Agreement

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