Document:

Exhibit 10.1

 

EXECUTION COPY

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

FIRST
AMENDMENT TO CREDIT AGREEMENT (this “First Amendment”), dated as of September
11, 2009, by and among INTERNATIONAL ADVISORY HOLDINGS CORP., a Delaware
corporation (“Holdings”), INTERNATIONAL CONSULTING ACQUISITION CORP., a
Delaware corporation (the “Borrower”), the lenders party to the Credit
Agreement referred to below (the “Lenders”) and DEUTSCHE BANK TRUST
COMPANY AMERICAS, as Administrative Agent (in such capacity, the “Administrative
Agent”). Unless otherwise indicated, all capitalized terms used herein and
not otherwise defined shall have the respective meanings provided such terms in
the Credit Agreement.

 

W  I  T  N  E  S  S
E  T  H :

 

WHEREAS,
Holdings, the Borrower, the Lenders and the Administrative Agent are parties to
a Credit Agreement, dated as of November 16, 2007 (as amended, modified or
supplemented through, but not including, the date hereof, the “Credit
Agreement”); and

 

WHEREAS,
subject to the terms and conditions of this First Amendment, the parties hereto
wish to amend to certain provisions of the Credit Agreement as herein provided;

 

NOW, THEREFORE, it is agreed: 

 

I.              Amendments to Credit Agreement.

 

1.               Section 5.02(b) of the
Credit Agreement is hereby amended by deleting Section 5.02(b)(i) in its
entirety and inserting the following new Section 5.02(b)(i) in lieu
thereof:

 

“(b) (i) In addition to any other mandatory repayments
pursuant to this Section 5.02, on each date set forth below (each, a “Scheduled
Initial Term Loan Repayment Date”), the Borrower shall be required to repay
that principal amount of Initial Term Loans, to the extent then outstanding, as
is set forth opposite each such date below (each such repayment, as the same
may be (x) reduced as provided in Section 5.01(a), 5.01(b) or 5.02(g)
with respect to payments made after September 11, 2009 or (y) increased as
provided in Section 2.14(c), a “Scheduled Initial Term Loan Repayment”):

 

	
  Scheduled Initial Term Loan

  Repayment Date

  	
   

  	
  Amount

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  The last Business Day of Holdings’ fiscal quarter
  ending September 30, 2009 

  	
   

  	
  $

  	
  5,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  The last Business Day of Holdings’ fiscal quarter
  ending December 31, 2009

  	
   

  	
  $

  	
  5,000,000

  	
   

  

 

 

	
  Scheduled Initial Term Loan

  	
   

  	
   

  	
   

  
	
  Repayment Date

  	
   

  	
  Amount

  	
   

  
	
  The last Business Day of Holdings’ fiscal quarter
  ending March 31, 2010

  	
   

  	
  $

  	
  2,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Initial Term Loan Maturity Date

  	
   

  	
  $

  	
  69,812,500

  	
  ”

  

 

2.               Section 10.07 of the
Credit Agreement is hereby amended by deleting said Section in its
entirety and inserting the following new Section 10.07 in lieu thereof:

 

“10.07 Total Leverage Ratio. Holdings will not permit the Total
Leverage Ratio at any time during a period set forth below to exceed the ratio
set forth opposite such period below:

 

	
  Period

  	
   

  	
  Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Initial
  Borrowing Date through and including June 29, 2008 

  	
   

  	
  4.25:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  June
  30, 2008 through and including September 29, 2008 

  	
   

  	
  4.00:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  September
  30, 2008 through and including March 30, 2009 

  	
   

  	
  3.75:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  March
  31, 2009 through and including June 29, 2009 

  	
   

  	
  3.50:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  June
  30, 2009 through and including September 29, 2010 

  	
   

  	
  3.25:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  September
  30, 2010 through and including March 30, 2011 

  	
   

  	
  3.00:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  March
  31, 2011 through and including June 29, 2011 

  	
   

  	
  2.75:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  June
  30, 2011 through and including September 29, 2011 

  	
   

  	
  2.50:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  September 30, 2011 through and including December
  30, 2011  

  	
   

  	
  2.25:1.00

  	
   

  

 

2

 

	
  December 31, 2011 and thereafter  

  	
   

  	
  2.00:1.00”.

  	
   

  

 

II.                                     Miscellaneous
Provisions.

 

1.             In order to induce
the Lenders to enter into this First Amendment, each of Holdings and the
Borrower hereby represents and warrants that (i) no Default or Event of
Default exists as of the First Amendment Effective Date (as hereinafter
defined), both immediately before and after giving effect to this First
Amendment and (ii) all of the representations and warranties contained in
the Credit Agreement and in the other Credit Documents, are true and correct in
all material respects on the First Amendment Effective Date, both immediately
before and after giving effect to this First Amendment, with the same effect as
though such representations and warranties had been made on and as of the First
Amendment Effective Date (it being understood that any representation or
warranty which by its terms is made as of a specific date shall be true and
correct in all material respects only as of such specific date).

 

2.             The Credit
Agreement is modified only by the express provisions of this First Amendment
and this First Amendment shall not constitute a modification, acceptance or
waiver of any other provision of the Credit Agreement or any other Credit
Document.

 

3.             This First
Amendment may be executed in any number of counterparts and by the different
parties hereto on separate counterparts, each of which counterparts when
executed and delivered shall be an original, but all of which shall together
constitute one and the same instrument. A complete set of counterparts shall be
lodged with the Borrower and the Administrative Agent.

 

4.             THIS
FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL
BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW
YORK.

 

5.             This First
Amendment shall become effective on the date (the “First  Amendment
Effective Date”) when Holdings, the Borrower and the Required Lenders shall
have signed a counterpart hereof (whether the same or different counterparts) and
shall have delivered (including by way of facsimile or other electronic
transmission) the same to White & Case LLP, 1155 Avenue of the
Americas, New York, NY 10036; Attention: Jessica Marchand (facsimile number: 212-354-8113
/ email: jmarchand@whitecase.com) and (ii) the Borrower shall have paid
the outstanding fees and expenses of White & Case LLP in connection
with the Credit Agreement.

 

6.             From and after the
First Amendment Effective Date, all references in the Credit Agreement and each
of the other Credit Documents to the Credit Agreement shall be deemed to be
references to the Credit Agreement as modified hereby.

 

*     *     *

 

3

 

IN
WITNESS WHEREOF, the parties hereto have caused their duly authorized officers
to execute and deliver this First Amendment as of the date first above written.

 

	
   

  	
  INTERNATIONAL
  ADVISORY HOLDINGS CORP.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Frank Martell

  
	
   

  	
   

  	
  Name:

  	
  Frank
  Martell

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INTERNATIONAL
  CONSULTING ACQUISITION CORP.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Frank Martell

  
	
   

  	
   

  	
  Name:

  	
  Frank
  Martell

  
	
   

  	
   

  	
  Title:

  	
   

  

 

Signature page to First Amendment to TPI Credit
Agreement

 

 

	
   

  	
  DEUTSCHE
  BANK TRUST COMPANY AMERICAS,

  
	
   

  	
  Individually and as Administrative Agent

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Erin Morrissey

  
	
   

  	
   

  	
  Name:

  	
  Erin
  Morrissey

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Omayra Laucella

  
	
   

  	
   

  	
  Name:

  	
  Omayra
  Laucella

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

Signature page to First Amendment to TPI Credit AgreementExhibit 10.1

 

FOURTH
AMENDMENT TO LEASE

 

This Fourth Amendment to Lease (“Fourth
Amendment”), is made and entered into as of the 22 date of July, 2009, by and
between Paragon Centre Holdings, LLC, a
Kentucky limited liability company (“Landlord”) and Texas Roadhouse Holdings LLC, a Kentucky limited liability
company (“Tenant”);

 

WITNESSETH THAT:

 

WHEREAS, Landlord and Tenant entered
into that certain Amended and Restated Lease dated January 1, 2006, a
First Amendment to Lease dated December 27, 2006, a Second Amendment to
Lease dated May 10, 2007, and a Third Amendment to Lease dated September 7,
2007, (collectively, the “Lease”) for space in Two Paragon Centre as follows:

 

Suite 400
(16,023 square feet of rentable space);

Suite 100
(3,082 square feet of rentable space);

Suite 110
(2,416 square feet of rentable space);

Suite 120
(2,994 square feet of rentable space);

Suite 130,
(2,313 square feet of rentable space);

Suite 140
(1,334 square feet of rentable space);

Suite 150
(3,317 square feet of rentable space);

Suite 200
(8,040 square feet of rentable space);

Suite 300
(4,334 square feet of rentable space);

Suite 305
(1,488 square feet of rentable space);

Suite 310
(1,405 square feet of rentable space);

Suite 315
(3,863 square feet of rentable space);

Suite 320
(4,581 square feet of rentable space)

Suite 250
(3,892 square feet of rentable space)

 

all
located in Two Paragon Centre, 6040 Dutchmans Lane, Louisville, Kentucky, for a
total of 59,082 square feet of rentable space (“Premises”);

 

WHEREAS, Tenant now occupies all of
the aforesaid Suites and desires to lease additional space known as Suite 220
in Two Paragon Centre which will result in Tenant renting the entire building
of Two Paragon Centre, including all commons areas of the building, for a total
of 65, 917.6 square feet; and

 

WHEREAS, Landlord and Tenant desire
to amend certain other terms and conditions of the Lease and evidence their
agreements and other matters by means of this Fourth Amendment;

 

NOW, THEREFORE, in consideration of the
mutual covenants contained herein, and other good and valuable consideration,
the receipt, adequacy and sufficiency of which are hereby acknowledged, the
Lease is hereby amended and the parties hereby agree as follows:

 

1.                                       Pursuant to Exhibit C,
paragraph 1 of the Lease, Landlord agrees to lease and Tenant agrees to accept
in its “AS IS WHERE IS” condition, Suite 220 in Two Paragon Centre,
thereby making Tenant the sole occupant of the entire building known as Two
Paragon Centre. Paragraph 2.1 of the Lease shall be amended to 

 

 

include Suite 220 as a part of the
Premises and the total rentable square footage of the Premises shall be amended
to 65,917.6 square feet effective May 1, 2009.  Exhibit B shall be replaced with the
attached Exhibit B. The term for Suite 220 shall run co-terminous
with the remainder of the Premises. Paragraph 2.2 of the Lease is hereby
amended to state that Tenant’s obligation to pay Base Rent and Tenant’s Prorata
Share of Operating Expenses for Suite 220 commences January 1,
2010.  Exhibit C, paragraph 1 will
be of no force and effect as Tenant now occupies the entire building of Two
Paragon Centre.

 

2.                                       The original
term of the Lease shall be amended to expire on December 31, 2025. The
Extension Option under Exhibit C shall remain in full force and effect.

 

3.                                       The Expense
Stop defined under Basic Lease Provisions section shall be changed to $3.63 per
square foot beginning January 1, 2010.

 

4.                                       Landlord and
Tenant agree that the Base Rent for the Premises beginning January 1,
2010, will be $14.93 per rentable square foot. Section 3.1 of the Lease
will be amended as follows:

 

	
  Months
  of

  Term

  	
   

  	
  Premises

  	
   

  	
  Base Rent per

  Rentable Square

  Foot

  	
   

  	
  Total Base

  Rent

  	
   

  	
  Base Rent

  Monthly

  	
   

  
	
  1/1/10-12/31/10

  	
   

  	
  400,
  100, 110, 120, 130, 140, 150, 200, 300, 305, 310, 315, 320, 250, 220

  	
   

  	
  $

  	
  14.93

  	
   

  	
  $

  	
  984,149.77

  	
   

  	
  $

  	
  82,012.48

  	
   

  
	
  1/1/11-12/31/11

  	
   

  	
  400,100,110,  120,130, 140,  150, 200,
  300,  305, 310, 315, 320, 250, 220

  	
   

  	
  $

  	
  15.18

  	
   

  	
  $

  	
  1,000,629.17

  	
   

  	
  $

  	
  83,385.76

  	
   

  
	
  1/1/12-12/31/12

  	
   

  	
  400,
  100, 110, 120, 130, 140, 150, 200, 300, 305, 310, 315, 320, 250, 220

  	
   

  	
  $

  	
  15.43

  	
   

  	
  $

  	
  1,017,108.57

  	
   

  	
  $

  	
  84,759.05

  	
   

  
	
  1/1/13-12/31/15

  	
   

  	
  400,
  100, 110, 120, 130, 140, 150, 200, 300, 305, 310, 315, 320, 250, 220

  	
   

  	
  $

  	
  15.93

  	
   

  	
  $

  	
  1,050,067.37

  	
   

  	
  $

  	
  87,505.61

  	
   

  
	
  1/1/16-12/31/20

  	
   

  	
  400,
  100, 110, 120, 130, 140, 150, 200, 300, 305, 310, 315, 320, 250, 220

  	
   

  	
  $

  	
  16.93

  	
   

  	
  $

  	
  1,115,984.97

  	
   

  	
  $

  	
  92,998.75

  	
   

  

 

 

	
  1/1/21-12/31/25

  	
   

  	
  400,
  100, 110,  120, 130, 140,  150, 200, 300,  305, 310,
  315,  320, 250, 220

  	
   

  	
  $

  	
  17.93

  	
   

  	
  $

  	
  1,181,902.57

  	
   

  	
  $

  	
  98,491.88

  	
   

  
	
  Option 1

  	
   

  	
  400,
  100, 110,  120, 130, 140,  150, 200, 300,  305, 310,
  315,  320, 250, 220

  	
   

  	
  95%
  of Fair Market Rent (as defined in Exhibit C, Special Stipulations)

  	
   

  

 

5.                                       Section 4.2
of the Lease shall be deleted in its entirety and the following language shall
be inserted in lieu thereof:

 

“Keys and Locks. Landlord shall initially
furnish Tenant with a reasonable number of keys or key fobs for the standard
corridor doors serving the Premises. Additional keys or key fobs will be
furnished by Landlord upon an order signed by Tenant and at Tenant’s expense.
All such keys and/or key fobs shall remain the property of Landlord. Upon
termination or expiration of this Lease or a termination of possession of the
Premises by Tenant, Tenant shall surrender to Landlord all keys and/or key fobs
to any locks on doors entering or within the Premises. Tenant shall be
responsible for access of its employees, agents, concessionaires, licensees,
customers and invitees to and from the building and to suites within the
building, and notifying the security company when building access doors should
be open or locked, including, but not limited to weekends and holidays. In
addition, Tenant will provide contact information to the alarm monitoring
company, whose contact information shall be supplied by Landlord to Tenant, so
that Tenant may be notified in the event the security alarm is activated.”

 

6.                                       Section 3.2 and 4.1 of the Lease
shall be amended as follows:  Beginning
on January 1, 2010, the following services shall be provided by Tenant and
shall no longer be the responsibility of the Landlord and shall not be billed
as part of the Operating Expenses for the Premises:

 

A.                                   Elevator emergency phone and fire panel
phone line (currently using Bellsouth).

B.                                     Monitoring for
fire, elevator phones and door access (currently using Sonitrol Security Systems).

C.                                     Exterminator
(currently using Okalona Pest Control)

D.                                    Interior
Landscaping  (currently using Alpine
Interior)

E.                                      Cleaning
Supplies (currently using Eagle Paper)

F.                                      Cleaning
Contract (currently using Jani-King)

G.                                     Utilities —
LG&E (excludes parking lot lighting)

 

Landlord
will continue managing the fire sprinklers and sprinkler testing and
inspections, window washing, parking lot lighting and maintenance and waste
removal.

 

7.                                       All capitalized
terms used herein and not otherwise defined herein shall have the meanings
ascribed to them in the Lease.

 

 

8.                                       This Fourth
Amendment shall not be valid and binding on Landlord and Tenant unless and
until it has been completely executed by and delivered to both parties.

 

EXCEPT AS expressly amended and
modified hereby, the Lease shall otherwise remain in full force and effect, the
parties hereto hereby ratifying and confirming the same, including but not
limited to the Special Stipulations, detailed in Exhibit C of the Lease,
excepting paragraph 1 which is no longer in force and effect. To the extent of
any inconsistency between the Lease and this Fourth Amendment, the terms of
this Fourth Amendment shall control as to the subject matter covered herein.

 

IN WITNESS WHEREOF, the undersigned parties have
duly executed this Fourth Amendment as of the date and year first above
written.

 

	
  LANDLORD:

  	
   

  	
  TENANT:

  
	
  PARAGON
  CENTRE

  	
   

  	
  TEXAS
  ROADHOUSE

  
	
  HOLDINGS,
  LLC

  	
   

  	
  HOLDINGS LLC

  
	
  A
  Kentucky limited liability

  	
   

  	
  A
  Kentucky limited liability

  
	
  company

  	
   

  	
  company

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  David W. Nicklies

  	
   

  	
  By:
  Texas Roadhouse, Inc., a Delaware

  
	
   

  	
  David
  W. Nicklies, Manager

  	
   

  	
  corporation,
  its Manager

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/
  G.J. Hart

  
	
   

  	
   

  	
   

  	
   

  	
  G.J.
  Hart, President,

  
	
   

  	
   

  	
   

  	
   

  	
  Chief
  Executive Officer

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