Document:

EX-10.1

 Exhibit 10.1 

SEVENTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

Dated as of May 31, 2019 

among 
 GLOBAL PAYMENTS INC., 

THE OTHER BORROWERS PARTY HERETO, 

THE GUARANTORS PARTY HERETO, 

BANK OF AMERICA, N.A., 
 as
Administrative Agent, Swing Line Lender and L/C Issuer, 
 CAPITAL ONE, N.A., 

CITIBANK, N.A., 
 FIFTH THIRD BANK,

 JPMORGAN CHASE BANK, N.A., 

PNC BANK, NATIONAL ASSOCIATION, 

SUNTRUST BANK, 
 TD BANK, N.A., 

and 
 MUFG BANK, LTD., 

as Co-Syndication Agents, 

and 
 THE LENDERS PARTY HERETO

 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 

CAPITAL ONE, N.A., 
 CITIBANK, N.A.,

 FIFTH THIRD BANK, 
 JPMORGAN
CHASE BANK, N.A., 
 PNC CAPITAL MARKETS LLC, 

SUNTRUST ROBINSON HUMPHREY, INC., 

TD SECURITIES (USA) LLC, 
 and 

MUFG BANK, LTD., 
 as Joint Lead
Arrangers 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 

as Sole Bookrunner 

 SEVENTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

THIS SEVENTH AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT dated as of May 31, 2019 (this “Amendment”) is
entered into among Global Payments Inc., a Georgia corporation (the “Company”), the other borrowers party hereto (together with the Company, the “Borrowers”), the Guarantors party hereto, the Lenders party hereto,
and Bank of America, N.A., as Administrative Agent. All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Existing Credit Agreement (as defined below) or the Amended Credit Agreement
(as defined below), as applicable. 
 RECITALS 

WHEREAS, the Company, the other Borrowers, the Lenders and the Administrative Agent entered into that certain Second Amended and Restated
Credit Agreement dated as of July 31, 2015 (as amended or modified from time to time prior to the date hereof, the “Existing Credit Agreement”); and 

WHEREAS, the parties hereto agree to amend the Existing Credit Agreement as set forth below (the Existing Credit Agreement, as amended by this
Amendment, the “Amended Credit Agreement”). 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Amendments to Existing Credit Agreement. 

(a)    The following definitions are added to Section 1.01 of the Existing Credit Agreement in the
appropriate alphabetical order: 
 “Seventh Amendment Effective Date” means May 31, 2019. 

“TSYS” means Total System Services, Inc., a Georgia corporation. 

“TSYS Merger” means the merger of the Company and TSYS pursuant to and in all material respects in accordance
with the TSYS Merger Agreement. 
 “TSYS Merger Agreement” means the Agreement and Plan of Merger, dated as
of May 27, 2019, by and between TSYS and the Company, as may be amended, restated, modified or supplemented from time to time. 

“TSYS Merger Notes” means all outstanding debt securities issued by the Company or any of its Subsidiaries for
the purpose of financing, in whole or in part, the TSYS Merger and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any
pre-existing Indebtedness of the Company, any of its Subsidiaries or TSYS or any of its Subsidiaries); provided that (a) the release of the proceeds of such debt securities to the Company and/or
its Subsidiaries is contingent upon the consummation of the TSYS Merger and, pending such release, such proceeds are held in escrow and (b) if the TSYS Merger Agreement is terminated or if the TSYS Merger is otherwise not consummated by the
date specified in the definitive documentation relating to such debt securities, such debt securities shall be redeemed (including by satisfaction and discharge) pursuant to a “special mandatory redemption” provision (or other similar
provision) within 90 days of such termination or such specified date (as determined by the Company in good faith). 

 (b)    The definition of “Excluded Property”
in Section 1.01 of the Existing Credit Agreement is amended by deleting the final “and” thereof and replacing it with “,” and adding the following to the end of such definition: 

and (o) the proceeds of the TSYS Merger Notes. 

(c)    The definition of “Interest Expense” in Section 1.01 of the Existing Credit Agreement
is amended by adding the following proviso to the end of such definition: 
 ; provided that, for purposes of
calculating the Interest Coverage Ratio, prior to the consummation of the TSYS Merger, “Interest Expense” shall not include interest, premium payments, debt discount, fees, charges and related expenses payable with respect to the TSYS
Merger Notes. 
 (d)    The definition of “Total Debt” in Section 1.01 of the Existing
Credit Agreement is amended by adding the following proviso to the end of the definition: 
 ; provided that, prior to
the consummation of the TSYS Merger, “Total Debt” shall not include any Indebtedness in respect of the TSYS Merger Notes. 

(e)    The words “The Company shall” at the beginning of Section 6.11(a) of the Existing
Credit Agreement are amended to read “Prior to the Release Date, the Company shall”. 

(f)    The words “The Company shall” at the beginning of Section 6.11(b) of the Existing
Credit Agreement are amended to read “Prior to the Release Date, the Company shall”. 

(g)    Section 6.11(d)(i) of the Existing Credit Agreement is amended and restated to read as follows: 

(i)    Notwithstanding anything contained herein or any other Loan Document to the contrary, all Liens in
favor of the Administrative Agent on the Collateral securing the Obligations shall be released upon the satisfaction of the following conditions precedent (the date on which such Liens are released being the “Release Date”): (i) receipt by
the Administrative Agent of written notice from the Company specifying the proposed Release Date (x) in the case of a release of Collateral in connection with the consummation of the TSYS Merger, at least three (3) Business Days prior to
the Release Date, which such notice may be conditioned on the consummation of the TSYS Merger and (y) in all other cases, at least ten (10) Business Days prior to the Release Date; (ii) as of the Release Date, the only Loans
outstanding shall be Revolving Loans, the Existing Term Loan, the Term A-2 Loan and any Incremental Term Loan (other than any Incremental Term Loan structured as a term loan B); (iii) as of the Release Date,
no Default or Event of Default shall have occurred and be continuing; (iv) as of the Release Date, there shall be no Lien on all or substantially all of the Collateral that was pari passu to the Liens on the Collateral securing the Obligations
immediately prior to the Release Date; (v) immediately after giving pro forma effect to the release of Collateral and all other transactions consummated in connection therewith in contemplation of the Release Date, the Credit Parties shall be
in compliance with the Pre-Collateral Financial Covenants computed as of the end of the period of twelve months most recently ended for which the Company has delivered

 
financial statements pursuant to Section 6.01(a) or (b); (vi) receipt by the Administrative Agent of a certificate, dated the Release Date and executed by a Financial Officer of the Company,
confirming the satisfaction of the conditions set forth in clauses (iii), (iv) and (v) above; and (vii) this Agreement shall have been amended in accordance with Section 6.11(d)(ii) below. 

(h)    Section 7.01 of the Existing Credit Agreement is amended by deleting subsections (v) through
(x) thereof and inserting in their place the following new subsections (v) through (y): 

(v)    Indebtedness in respect of the TSYS Merger Notes; 

(w)    other Indebtedness not described in clauses (a) through (v) so long as on the
date of such incurrence or creation of such Indebtedness, the aggregate principal amount of such Indebtedness does not exceed the greater of (i) $150,000,000 and (ii) an amount equal to 15% of EBITDA as at the end of the Company’s most
recently ended Fiscal Quarter (for the twelve month period then ended) for which financial statements have been made available, or are required to have been made available, to the Administrative Agent prior to such date; 

(x)    Indebtedness pursuant to any Permitted Refinancing of any obligations described in clauses
(a) through (w) not otherwise permitted hereunder; and 
 (y)    all premiums (if any),
interest, fees, expenses, charges and additional or contingent interest on obligations described in clauses (a) through (x). 

(i)    Section 7.02 of the Existing Credit Agreement is amended by deleting the word “and”
at the end of subsection (h) thereof, replacing the period at the end of subsection (i) thereof with the words “; and” and adding a new subsection (j) immediately following Section 7.02(i) of the Existing Credit
Agreement to read as follows: 
 (j)    Liens on, and the deposit in escrow of, the cash proceeds of the
TSYS Merger Notes and other customary cash to secure the obligations of the issuer thereof in the event that the TSYS Merger Agreement is terminated or the TSYS Merger is otherwise not consummated by the date specified in the definitive
documentation relating to such debt securities. 
 (j)     Section 7.13(f)(iii) of the Existing
Credit Agreement is amended to read as follows: 
 (iii)    any document, instrument or any document,
instrument or restriction relating to Settlement Obligations, Guarantees of Settlement Obligations, or Indebtedness incurred pursuant to Section 7.01(a), 7.01(e), 7.01(f), 7.01(m), 7.01(o),
7.01(p), 7.01(s), 7.01(u), 7.01(v), 7.01(w) or 7.01(x), 
 2.    Conditions
Precedent. This Amendment shall be effective upon satisfaction of the following conditions precedent: 

(a)    Receipt by the Administrative Agent of counterparts of this Amendment duly executed by the
Borrowers, the Guarantors, the Required Lenders and the Administrative Agent. 

 (b)    Receipt by the Administrative Agent of
satisfactory evidence that, after giving effect to this Amendment, (i) the representations and warranties of the Company and each other Credit Party contained in Article V of the Amended Credit Agreement or any other Loan Document are true and
correct in all material respects (or in all respects if any such representation or warranty is already qualified by materiality or reference to Material Adverse Effect) as of the date hereof with the same effect as if made on and as of the date
hereof, except to the extent such representations and warranties expressly relate solely to an earlier date (in which event such representations and warranties shall have been true in all material respects (or in all respects if any such
representation or warranty is already qualified by materiality or reference to Material Adverse Effect) on and as of such earlier date), and (ii) no event has occurred and is continuing which constitutes a Default or an Event of Default. 

(c)    Upon the reasonable request of any Lender, each Credit Party shall have provided to such Lender, and
such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the
PATRIOT Act and the Beneficial Ownership Regulation. 
 3.    Miscellaneous. 

(a)    The Amended Credit Agreement and the obligations of the Credit Parties thereunder and under the
other Loan Documents are hereby ratified and confirmed and shall remain in full force and effect according to their terms, as amended hereby. This Amendment is a Loan Document. 

(b)    Each Guarantor joins the execution of this Amendment for the purpose of (i) acknowledging and
consenting to all of the terms and conditions of this Amendment, (ii) affirming all of its obligations under the Loan Documents, and (iii) agreeing that this Amendment and all documents executed in connection herewith do not operate to
reduce or discharge its obligations under the Existing Credit Agreement, the Amended Credit Agreement or the other Loan Documents. 

(c)    Each Lender party hereto represents and warrants that, after giving effect to this Amendment, the
representations and warranties of such Lender set forth in the Amended Credit Agreement are true and correct as of the Seventh Amendment Effective Date. Each Lender party hereto hereby agrees to comply with the covenants applicable to such Lender
set forth in the Amended Credit Agreement. 
 (d)    This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by telecopy or other secure electronic format
(.pdf) shall be effective as an original and shall constitute a representation that an executed original shall be delivered. 

(e)    THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR
TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The provisions of
Section 10.14(b) of the Existing Credit Agreement are incorporated herein by reference and shall apply to this Amendment and the transactions contemplated hereby mutatis mutandis. 

 [SIGNATURE PAGES ON FILE WITH THE COMPANY]Exhibit 10.1

    

     

    

    THIS PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). 
      THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE
      TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

    

    

    PROMISSORY NOTE

    

    

    	
            Principal Amount: Up to $300,000

          	 	
            Dated as of April 19, 2019

            New York, New York

          
	 	 	 

    South Mountain Merger Corp., a Delaware corporation and blank check company (the “Maker”), promises to pay to the order of South Mountain LLC or its
        registered assigns or successors in interest (the “Payee”), or order, the principal sum of up to Three Hundred Thousand Dollars ($300,000) in lawful money of the United States of America, on the terms and conditions described below.  All payments on this Note
        shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

    

    

    1.          Principal.  The principal balance of this Note shall be payable by the Maker on the earlier of: (i) December 31, 2019 or (ii) the date on which Maker consummates an initial public offering of its securities. 
        The principal balance may be prepaid at any time.  Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of
        the Maker hereunder.

    

    

    2.          Interest.  No interest shall accrue on the unpaid principal balance of this Note.

    

    

    3.          Drawdown Requests.  Maker and Payee agree that Maker may request up to Three Hundred Thousand Dollars ($300,000) for costs reasonably related to Maker’s initial public offering of its securities.  The principal of this Note may be drawn down from time to time prior to the earlier of: (i) December 31, 2019 or (ii) the date on which Maker consummates an initial public offering of
        its securities, upon written request from Maker to Payee (each, a “Drawdown Request”).  Each Drawdown Request must state the amount to be drawn down, and must not be an amount less than Ten Thousand Dollars ($10,000) unless agreed upon by Maker and Payee.  Payee
        shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note is Three Hundred Thousand Dollars ($300,000).  Once an
        amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid.  No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.

    
      
        

    

    
    

    

    4.          Application of Payments.  All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.

    

    

    5.          Events of Default.  The following shall constitute an event of default (“Event of Default”):

    

    

    (a)          Failure to Make Required Payments.  Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days of the date specified above.

    

    

    (b)          Voluntary Bankruptcy, Etc.  The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or
        taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of any assignment for the benefit of creditors, or the
        failure of Maker generally to pay its debts as such debts become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

    

    

    (c)          Involuntary Bankruptcy, Etc.  The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar
        law, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up or liquidation of its affairs, and the continuance of any
        such decree or order unstayed and in effect for a period of 60 consecutive days.

    

    

    6.          Remedies.

    

    

    (a)          Upon the occurrence of an Event of Default specified in
        Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall become immediately due and payable
        without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

    

    

    (b)          Upon the occurrence of an Event of Default specified in
        Sections 5(b) and 5(c), the unpaid principal balance of this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on the part of Payee.

    

    

    7.          Waivers.  Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors,
        defects and imperfections in any proceedings instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property, real or personal, or any part of the proceeds
        arising from any sale of any such property, from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any real estate that may be
        levied upon pursuant to a judgment obtained by virtue hereof or any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by Payee.

    
      2

      
        

    

    

    

    8.          Unconditional Liability.  Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be
        unconditional, without regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by Payee, and consents to any and all
        extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become parties hereto
        without notice to Maker or affecting Maker’s liability hereunder.

    

    

    9.          Notices.  All notices, statements or other documents which are required or contemplated by this Note shall be made in writing and delivered: (i) personally or sent by first class registered or certified mail,
        overnight courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be designated in writing by such
        party or (iii) by electronic mail, to the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing by such party.  Any notice or other communication so transmitted shall be
        deemed to have been given on the day of delivery, if delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an overnight courier
        service or five (5) days after mailing if sent by mail.

    

    

    10.          Construction.  THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF DELAWARE, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

    

    

    11.          Severability.  Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
        without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

    

    

    12.          Trust Waiver.  Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust account to be established in which the
        proceeds of the initial public offering (the “IPO”) to be conducted by the Maker (including the deferred underwriters discounts and commissions) and the proceeds of the sale of the warrants to be issued in a private placement to occur prior to the closing
        of the IPO are to be deposited, as described in greater detail in the registration statement and prospectus to be filed with the Securities and Exchange Commission in connection with the IPO, and hereby agrees not to seek recourse, reimbursement,
        payment or satisfaction for any Claim against the trust account for any reason whatsoever.

    
      3

      
        

    

    

    

    13.          Amendment; Waiver.  Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.

    

    

    14.          Assignment.  No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law or otherwise) without the prior written consent of the other party
        hereto and any attempted assignment without the required consent shall be void.

    

    

    [Signature page follows]

    
      4

      
        

    

    

    

    IN WITNESS WHEREOF, Maker, intending to be legally
        bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first above written.

    

    

    	 	
            SOUTH MOUNTAIN MERGER CORP.

          
	 	 	 
	 	
            By:

          	
            /s/ Charles Bernicker

          
	 	
            Name:

          	
            Charles Bernicker

          
	 	
            Title:

          	
            Director and CEO

          

    

    

    Accepted and agreed this 19th day of April, 2019

    

    

    South Mountain LLC

    

    

              By:  Harbour Reach Holdings LLC, its managing member

    

    

                              By: Netherton Investments Limited, its managing member

    

    

    	 	
            By:

          	
             /s/ Robert Heaselgrave

          	

          
	 	
            Name:

          	
             Robert Heaselgrave

          	 
	 	
            Title:

          	
            Director

          	 

    

    

  

  5

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