Document:

Exhibit
10.1

 

AMENDMENT
NO. 1

TO

THIRD
AMENDED AND RESTATED CREDIT AGREEMENT

 

AMENDMENT NO. 1, dated as of January 14, 2010 (this “Amendment”),
to the Third Amended and Restated Credit Agreement, dated as of September 23,
2009 (as amended, restated, amended and restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”; capitalized terms used but
not otherwise defined herein shall have the respective meanings ascribed to
such terms in the Credit Agreement), by and among ENERGYSOLUTIONS, LLC, a Utah
limited liability company (“EnergySolutions”), ENERGYSOLUTIONS, INC., a
Delaware corporation (“Parent”), the other Loan Parties from time to
time signatory thereto, CITICORP NORTH AMERICA, INC., as administrative agent
(in such capacity, the “Administrative Agent”) and the other Agents and
Lenders from time to time party thereto.

 

WHEREAS, EnergySolutions has requested that the
Lenders and the Administrative Agent agree to amend the Credit Agreement to
effect the changes described below; and

 

WHEREAS, Section 11.12 of the Credit Agreement
permits the Credit Agreement to be amended from time to time.

 

NOW, THEREFORE, in consideration of the premises and
covenants contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound hereby, agree as follows:

 

1.             Amendments

 

The Credit Agreement is hereby amended, as of the
First Amendment Effective Date (as defined below), as follows:

 

(a)           Clause (b) in
the fourth recital of the Credit Agreement is hereby replaced in its entirety
with the following: “allow, in the future, EnergySolutions to establish a
one-year (with customary provisions for two one-year renewal periods) letter of
credit facility hereunder (the “Zion Incremental Facility”) and/or a
Zion Credit Support Obligation (as defined herein) in an aggregate amount of no
more than $200,000,000 that may be used solely to support obligations of
EnergySolutions and Parent under the agreement referred to in clause (n) of
the definition of Zion Agreements”.

 

(b)           The following
definitions are added to Section 1.1 of the Credit Agreement in
alphabetical order:

 

“Duratek Amendment No. 1” shall mean the
certain amendment to the Duratek Loan Agreement dated as of January 14,
2010.

 

 

“OID” shall mean any discount to a loan or a
commitment for a revolving or letter of credit facility made applicable upon
the issuance thereof.

 

“Zion Incremental Effective Date” shall mean
the first date that a letter of credit may be issued under the Zion Incremental
Facility.

 

“Zion Incremental Facility Lenders” shall
mean lenders under the Zion Incremental Facility.

 

“Zion L/C Issuing Bank” shall mean each
Person appointed by EnergySolutions and identified as a Zion L/C Issuing Bank
under the Zion Incremental Facility; provided the Administrative Agent
has consented to such appointment (such consent not to be unreasonably withheld
or delayed).

 

(c)           The definition
of “First Lien Leverage Ratio” in Section 1.1 of the Credit
Agreement is hereby amended by replacing the word “Indebtedness” with the
phrase “Indebtedness for Money Borrowed”.

 

(d)           The definition
of “Indebtedness for Money Borrowed” in Section 1.1 of the
Credit Agreement shall be amended by adding the following immediately before
the period at the end of the first sentence thereof: “; provided  further
that to the extent that (i) the lenders under any Zion Credit Support
Obligation, Zion Incremental Facility or Reclamation L/C Facility Commitments
shall fund the amount of their commitments therefor prior to the use thereof
for the purposes set forth in clause (iii) of this definition (the “Pre-Funded
Amounts”), (ii) without limiting the uses of the Pre-Funded Amounts
set forth in clause (iii) below, the Pre-Funded Amounts may not be
accessed by any Loan Party or any of its Affiliates and may only be accessed by
the Administrative Agent or relevant issuer of the letters of credit,
performance or fidelity bonds or similar obligations issued pursuant thereto
and (iii) the Pre-Funded Amounts may solely be used to reimburse the
applicable issuing bank or the issuer of such letters of credit, performance or
fidelity bonds or similar obligations for any unreimbursed disbursements in connection
with a drawing under a letter of credit, performance or fidelity bond or
similar obligation issued pursuant thereto, the Pre-Funded Amounts shall not,
prior to any use specified in clause (iii) above, be included in the
calculation of Indebtedness for Money Borrowed (but shall be so included upon
and following such use until reimbursed by Borrower)”.

 

(e)           The definition
of “Issuing Banks” in Section 1.1 of the Credit Agreement is
replaced in its entirety with the following:

 

“Issuing Banks” shall
mean the Revolving Issuing Bank, the Synthetic Issuing Bank and each Zion L/C Issuing
Bank”.

 

(f)            The definition
of “Incremental Commitment Cap” in Section 1.1 of the Credit
Agreement is amended by deleting the phrase “(ii) Incremental Term
Commitments and (iii)” and replacing it with the phrase “and (ii)”.

 

2

 

(g)           The definition
of “Lenders” in Section 1.1 of the Credit Agreement is
hereby amended by adding the words “or Section 2.15” after the
second reference to “Section 11.5” in such definition.

 

(h)           The definition
of “Loans” in Section 1.1 of the Credit Agreement is replaced
in its entirety with the following:

 

“Loans” shall mean,
collectively, the Revolving Loans, the Letter of Credit Loans, the Term Loans, unreimbursed
Disbursements in accordance with Section 2.17(d) and any
disbursement to a beneficiary in respect of a letter of credit issued under the
Zion Incremental Facility or Reclamation L/C Facility Commitments, as the case
may be, that is not reimbursed by a Loan Party.

 

(i)            Clause (q) of
the definition of “Permitted Liens” in Section 1.1 of the
Credit Agreement is hereby amended by inserting the phrase “to secure
obligations of EnergySolutions and Parent to Exelon and its permitted assigns
in connection with the agreement referred to in clause (g) of the
definition of Zion Agreements” immediately after the word, “ZionSolutions”.

 

(j)            The definition
of “Term Loans” in Section 1.1 of the Credit Agreement is replaced
in its entirety with the following:

 

“Term Loans” shall
mean, collectively, the amounts advanced by the Term Lenders pursuant to the
Term Commitments as set forth on Schedule 4-B attached hereto and, to
the extent provided in the amendments contemplated by Section 2.15(g),
the Incremental Term Loans.

 

(k)           The definition
of “Zion Credit Support Obligation” in Section 1.1 of the
Credit Agreement is hereby amended by replacing the phrase “$50,000,000” with
the phrase “$200,000,000”.

 

(l)            The definition
of “Zion Incremental Facility Commitment” in Section 1.1 of
the Credit Agreement is hereby deleted in its entirety.

 

(m)          The definition
of “Zion Incremental Facility Commitment Cap” in Section 1.1
of the Credit Agreement is hereby amended by replacing the phrase “$50,000,000”
with the phrase “$200,000,000”.

 

(n)           The definition
of “Zion Incremental Facility Maturity Date” in Section 1.1
of the Credit Agreement is hereby deleted and replaced with the following:

 

3

 

“Zion Incremental Facility Maturity Date” shall mean the first
anniversary of the Zion Incremental Effective Date; provided that the
Zion Incremental Facility Maturity Date (a) may be extended to a date that
is not later than two years following such first anniversary to the extent then
permitted by the terms of the Zion Incremental Facility and (b) shall in
no event be later than June 7, 2013.”.

 

(o)           Section 2.15(a)(i) of
the Credit Agreement is hereby amended by replacing the first parenthetical
phrase thereof with the following: “(the “Incremental Revolving Commitments”
and together with the Incremental Term Commitments referred to below, the “Incremental
Commitments”)”.

 

(p)           Section 2.15(a)(iii) of
the Credit Agreement is hereby amended by inserting the word “aggregate”
immediately prior to the word “amount”.

 

(q)           Section 2.15(a)(iv) of
the Credit Agreement is hereby amended by replacing the phrase “one Zion
Incremental Facility Commitment (“Zion Incremental Facility Commitment”)
by an amount” with the phrase, “commitments for one or more Zion Incremental
Facilities (collectively, the “Zion Incremental Facility Commitment”) by
an aggregate amount”.

 

(r)            Section 2.15(c) of
the Credit Agreement is hereby amended by:

 

(i)            replacing
clause (iv) of such Section 2.15(c) in its entirety with the
following:

 

(iv)  the Reclamation L/C Facility Commitments shall terminate,
and all Obligations thereunder shall be due, no later than the Reclamation L/C
Facility Maturity Date and the Applicable Margin applicable thereto shall be as
determined by the applicable providers of the Reclamation L/C Facility Commitments
and EnergySolutions (and it is further understood and agreed that the
Reclamation L/C Facility Commitments may be pre-funded or not, in the
determination of EnergySolutions and the Lenders thereunder); and

 

(ii)           replacing clause
(v) of such Section 2.15(c) in its entirety with the following:

 

4

 

(v)  the Zion Incremental Facility Commitment shall terminate, and
all Obligations thereunder shall be due, no later than the Zion Incremental
Facility Maturity Date and the Applicable Margin applicable thereto shall be as
determined by the applicable Zion Incremental Facility Lenders and
EnergySolutions (and it is further understood and agreed that the Zion Incremental
Facility may be pre-funded or not, in the determination of EnergySolutions and
the Zion Incremental Facility Lenders);

 

(iii)          adding a new (viii) of
such Section 2.15(c) with the following:

 

(viii)  Neither the
Incremental Commitments nor the Reclamation L/C Facility Commitments shall be
used to support obligations under the Zion Agreements, and, for the avoidance
of doubt, but not in derogation of clauses (iv) and (v) above, except
to the extent necessary to implement the mechanical structure thereof, the same
negative and affirmative covenants, events of default and similar terms that
are applicable to the then-existing Loans and Commitments shall be applicable
to the Reclamation L/C Facility Commitments and Zion Incremental Facility Commitments.

 

(s)           Section 2.15(d) of
the Credit Agreement is hereby amended by adding, after the first time the
phrase “Incremental Commitments” appears, the following: “for Revolving
Commitments”.

 

(t)            Section 2.15(f) of
the Credit Agreement is hereby amended by adding, immediately prior to the period
at the end of the first sentence, the phrase “; provided that the Zion
Credit Support Obligation shall benefit from such Guarantees and security
interests equally and ratably but such benefits may be established pursuant to
separate documentation agreed to by the Administrative Agent, the Collateral
Agent and EnergySolutions”.  Section 2.15(f) of
the Credit Agreement is hereby further amended by inserting, immediately prior
to the phrase “Incremental Term Loans”, the phrase “Reclamation L/C Facility, Zion
Incremental Facility,”.

 

(u)           Section 2.15(g) of
the Credit Agreement is hereby amended by deleting the phrase “Incremental Term
Loans hereunder” and replacing it with the phrase “any credit commitments or
extensions contemplated by this Section 2.15” and by deleting the
word “such” and replacing it with the word “any”;

 

(v)           Section 7.1(s) of
the Credit Agreement is hereby deleted and replaced with the following:

 

5

 

(s)           on or after the
Third Amended and Restated Credit Agreement Effective Date, Indebtedness
outstanding pursuant to the Zion Credit Support Obligation and the Zion
Incremental Facility in an aggregate amount not to exceed $200,000,000; provided
that any such Indebtedness incurred pursuant to this Section 7.1(s) is
incurred solely to support the obligations of EnergySolutions and Parent under
the agreement referenced in clause (n) of the definition of Zion
Agreements; and

 

2.             Representations
and Warranties. 
EnergySolutions represents and warrants to the Lenders as of the date
hereof that:

 

(a)           The execution
and delivery of this Amendment by EnergySolutions has been duly authorized;

 

(b)           Neither the
execution or delivery by EnergySolutions of this Amendment, nor compliance by
it with the terms and provisions hereof will, (i) violate any Applicable
Law respecting EnergySolutions, Parent or their Subsidiaries or (ii) conflict
with, result in a breach of or constitute a default under the certificate or
articles of incorporation or bylaws, operating agreement or the partnership
agreement, as the case may be, as such documents are amended, of
EnergySolutions, of Parent or of any of their Subsidiaries, or under any
material indenture, agreement, or other instrument, to which
EnergySolutions, Parent or any of their Subsidiaries is a party or
by which any of them or their respective properties may be bound;

 

(c)           Before and
after giving effect to this Amendment, the representations and warranties set
forth in the Credit Agreement are true and correct in all material respects
with the same effect as if made on the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date in which
case they shall be true and correct in all material respects as of such earlier
date; and

 

(d)           At the time of
and after giving effect to this Amendment, no Default or Event of Default has
occurred and is continuing.

 

3.             Conditions
to Effectiveness.  This Amendment shall become effective on the
date (the “First Amendment Effective Date”) on which each of the
following conditions is satisfied or waived:

 

(a)           The
Administrative Agent (or its counsel) shall have received:

 

(1)           from Lenders
constituting the Majority Lenders and each of the other parties hereto either (i) a
counterpart of this Amendment signed on behalf of such party or (ii) written
evidence satisfactory to the Administrative Agent (which may include telecopy
transmission or “.PDF” of a signed signature page of this Amendment) that
such party has consented in writing to amend the Credit Agreement pursuant to
this Amendment;

 

6

 

(2)           from Lenders
constituting the Majority Lenders party to the Duratek Loan Agreement and each
of the other parties thereto either (i) a counterpart of Duratek Amendment
No. 1 signed on behalf of such party or (ii) written evidence
satisfactory to the Administrative Agent (which may include telecopy
transmission or “.PDF” of a signed signature page of Duratek Amendment No. 1)
that such party has consented in writing to amend the Credit Agreement pursuant
to Duratek Amendment No. 1;

 

(b)           All corporate
and other proceedings, if any, taken or to be taken in connection with this
Amendment and all documents incidental thereto, whether or not referred to
herein, shall be satisfactory in form and substance to the Administrative Agent
and its counsel;

 

(c)           The
Administrative Agent shall have received all reasonable costs, fees, expenses
and other amounts due and payable on or prior to the First Amendment Effective
Date, including reimbursement or payment of all reasonable out-of-pocket
expenses (including the reasonable fees, disbursements and other charges of
Cahill Gordon & Reindel LLP, counsel for the Administrative Agent)
required to be reimbursed or paid by EnergySolutions, and for which invoices
have been presented to EnergySolutions on or prior to the business day prior to
the First Amendment Effective Date;

 

(d)           All
representations and warranties set forth in Section 2 hereof shall be true
and correct as of such date;

 

(e)           The
Administrative Agent shall have received for the account of each Lender who
executes and delivers to the Administrative Agent this Amendment prior to 12:00
noon Eastern Standard  Time on January 13,
2010 an amendment fee equal to 0.25% of the sum of (i) the aggregate
principal amount of Term Loans and Synthetic Deposits under the Credit
Agreement held by such Lender and (ii) the aggregate amount of Revolving
Commitments (whether used or unused) under the Credit Agreement held by such
Lender.

 

4.             Reference
to the Effect on the Loan Documents

 

(a)           As of the First
Amendment Effective Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or
words of like import, and each reference in the other Loan Documents to the
Credit Agreement (including, without limitation, by means of words like “thereunder”, “thereof” and
words of like import), shall mean and be a reference to the Credit Agreement,
as amended hereby, and this Amendment and the Credit Agreement shall be read together
and construed as a single instrument.

 

(b)           Except as
expressly amended hereby or specifically waived above, all of the terms and
provisions of the Credit Agreement and all other Loan Documents are and shall
remain in full force and effect and are hereby ratified and confirmed.

 

7

 

(c)                                  The execution,
delivery and effectiveness of this Amendment shall not, except as expressly
provided herein, operate as a waiver of any right, power or remedy of the
Lenders, EnergySolutions or the Administrative Agent under any of the Loan
Documents, nor constitute a waiver or amendment of any other provision of any
of the Loan Documents or for any purpose except as expressly set forth herein.

 

(d)                                 This Amendment
is a Loan Document.

 

5.                                      Counterparts.  This Amendment may be
executed in any number of counterparts and by different parties hereto on
separate counterparts, each of which when so executed and delivered shall be
deemed to be an original, but all of which when taken together shall constitute
a single instrument.  Delivery of an
executed counterpart of a signature page of this Amendment by facsimile
transmission shall be effective as delivery of a manually executed counterpart
hereof.

 

6.                                      Applicable
Law.  THIS AGREEMENT SHALL BE
GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

 

7.                                      Severability.  The fact that any term or provision of this
Agreement is held invalid, illegal or unenforceable as to any person in any
situation in any jurisdiction shall not affect the validity, enforceability or
legality of the remaining terms or provisions hereof or the validity,
enforceability or legality of such offending term or provision in any other
situation or jurisdiction or as applied to any person.

 

8.                                      Headings.  The headings of this Amendment are for
purposes of reference only and shall not limit or otherwise affect the meaning
hereof.

 

9.                                      Affirmations.

 

(a)                                  EnergySolutions (i) expressly acknowledges the
terms of the Credit Agreement, as amended by this Amendment, (ii) ratifies
and affirms its obligations under the Loan Documents (including but not limited
to security documents and guarantees) executed by it and (iii) acknowledges,
renews and extends its continued liability under all such Loan Documents and
agrees such Loan Documents remain in full force and effect.

 

(b)                                 EnergySolutions hereby reaffirms, as of the date
hereof, (i) the covenants and agreements contained in each Loan Document
to which it is a party, including, in each case, such covenants and agreements
as in effect immediately after giving effect to this Amendment and the
transactions contemplated hereby, and (ii) the Lien on the Collateral
securing payment of the Obligations pursuant to the Security Documents.

 

[SIGNATURE PAGES FOLLOW]

 

8

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed as of the date first above written.

 

	
   

  	
  ENERGYSOLUTIONS,
  LLC,

  a Utah limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Richard Tooze

  
	
   

  	
   

  	
  Name:

  	
  Richard
  Tooze

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President and Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Taxpayer
  Identification Number: 14-1921823

  
	
   

  	
   

  
	
   

  	
  Address of Principal Place of Business:

  423 West 300 South

  Salt Lake City, Utah 84101

  

 

[SIGNATURES CONTINUE ON THE FOLLOWING PAGES]

 

 

	
   

  	
  ENERGYSOLUTIONS,
  INC.,

  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Richard Tooze

  
	
   

  	
   

  	
  Name:

  	
  Richard
  Tooze

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President and Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Taxpayer
  Identification Number: 51-0653027

  
	
   

  	
   

  
	
   

  	
  Address of Principal Place of Business:

  423 West 300 South

  Salt Lake City, Utah 84101

  

 

[SIGNATURES
CONTINUE ON THE FOLLOWING PAGES]

 

2

 

	
   

  	
  CITICORP
  NORTH AMERICA, INC.,

  
	
   

  	
  as
  Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Anthony V. Pantina

  
	
   

  	
   

  	
  Name:

  	
  Anthony
  V. Pantina

  
	
   

  	
   

  	
  Title:

  	
  VP/Director

  

 

3Exhibit
10.2

 

AMENDMENT
NO. 1 

TO 

AMENDED AND RESTATED CREDIT AGREEMENT

 

AMENDMENT NO. 1, dated as of January 14, 2010 (this “Amendment”),
to the Amended and Restated Credit Agreement, dated as of September 23,
2009 (as amended, restated, amended and restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”; capitalized terms used but
not otherwise defined herein shall have the respective meanings ascribed to
such terms in the Credit Agreement), by and among DURATEK, INC., a Delaware
corporation (“Duratek”), the other Loan Parties from time to time
signatory thereto, CITICORP NORTH AMERICA, INC., as administrative agent (in
such capacity, the “Administrative Agent”) and the other Agents and
Lenders from time to time party thereto.

 

WHEREAS, Duratek has requested that the Lenders and
the Administrative Agent agree to amend the Credit Agreement to effect the
changes described below; and

 

WHEREAS, Section 11.12 of the Credit Agreement
permits the Credit Agreement to be amended from time to time.

 

NOW, THEREFORE, in consideration of the premises and
covenants contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto,
intending to be legally bound hereby, agree as follows:

 

1.                                      Amendments

 

The Credit Agreement is hereby amended, as of the
First Amendment Effective Date (as defined below), as follows:

 

(a)                                  The following
definitions are added to Section 1.1 of the Credit Agreement in
alphabetical order:

 

“EnergySolutions Amendment No. 1” shall
mean the certain amendment to the EnergySolutions Credit Agreement dated as of January 14,
2010.

 

“OID” shall mean any discount to a loan or a
commitment for a revolving or letter of credit facility made applicable upon
the issuance thereof.

 

“Zion Incremental Facility” shall mean the
incremental facility established pursuant to Section 2.15(a)(iv) of
the EnergySolutions Credit Agreement.

 

“Reclamation L/C Facility Commitments” shall
mean the commitments established pursuant to Section 2.15(a)(iii) of
the EnergySolutions Credit Agreement.

 

(b)                                 The definition
of “First Lien Leverage Ratio” in Section 1.1 of the Credit
Agreement is hereby amended by replacing the word “Indebtedness” with the
phrase “Indebtedness for Money Borrowed”.

 

 

(c)                                  The definition
of “Indebtedness for Money Borrowed” in Section 1.1 of the
Credit Agreement shall be amended by adding the following immediately before
the period at the end of the first sentence thereof: “; provided  further
that to the extent that (i) the lenders under any Zion Credit Support
Obligation, Zion Incremental Facility or Reclamation L/C Facility Commitments
shall fund the amount of their commitments therefor prior to the use thereof
for the purposes set forth in clause (iii) of this definition (the “Pre-Funded
Amounts”), (ii) without limiting the uses of the Pre-Funded Amounts
set forth in clause (iii) below, the Pre-Funded Amounts may not be
accessed by any Loan Party or any of its Affiliates and may only be accessed by
the Administrative Agent or relevant issuer of the letters of credit,
performance or fidelity bonds or similar obligations issued pursuant thereto
and (iii) the Pre-Funded Amounts may solely be used to reimburse the
applicable issuing bank or the issuer of such letters of credit, performance or
fidelity bonds or similar obligations for any unreimbursed disbursements in connection
with a drawing under a letter of credit, performance or fidelity bond or
similar obligation issued pursuant thereto, the Pre-Funded Amounts shall not,
prior to any use specified in clause (iii) above, be included in the
calculation of Indebtedness for Money Borrowed (but shall be so included upon
and following such use until reimbursed by Borrower)”

 

(d)                                 Clause (q) of
the definition of “Permitted Liens” in Section 1.1 of the
Credit Agreement is hereby amended by inserting the phrase “to secure
obligations of EnergySolutions and Parent to Exelon and its permitted assigns
in connection with the agreement referred to in clause (g) of the definition
of Zion Agreements” immediately after the word “ZionSolutions”.

 

(e)                                  The definition
of “Zion Credit Support Obligation” in Section 1.1 of the
Credit Agreement is hereby amended by replacing the phrase “$50,000,000” with
the phrase “$200,000,000”.

 

(f)                                    The definition
of “Zion Incremental Facility Commitment Cap” in Section 1.1
of the Credit Agreement is hereby amended by replacing the phrase “$50,000,000”
with the phrase “$200,000,000”.

 

(g)                                 Section 7.1(s) of the
Credit Agreement is hereby deleted and replaced with the following:

 

on or after the Third Amended and Restated Credit Agreement Effective
Date, Indebtedness outstanding pursuant to the Zion Credit Support Obligation
and the Zion Incremental Facility in an aggregate amount not to exceed $200,000,000;
provided that any such Indebtedness incurred pursuant to this Section 7.1(s) is
incurred solely to support the obligations of EnergySolutions and Parent under
the agreement referenced in clause (n) of the definition of Zion
Agreements; and

 

2.                                      Representations
and Warranties.  Duratek
represents and warrants to the Lenders as of the date hereof that:

 

2

 

(a)                                  The execution
and delivery of this Amendment by Duratek has been duly authorized;

 

(b)                                 Neither the
execution or delivery by Duratek of this Amendment, nor compliance by it with
the terms and provisions hereof will, (i) violate any Applicable Law
respecting EnergySolutions, Parent or their Subsidiaries or (ii) conflict
with, result in a breach of or constitute a default under the certificate or
articles of incorporation or bylaws, operating agreement or the partnership
agreement, as the case may be, as such documents are amended, of
EnergySolutions, of Parent or of any of their Subsidiaries, or under any
material indenture, agreement, or other instrument, to which EnergySolutions,
Parent or any of their Subsidiaries is a party or by which any
of them or their respective properties may be bound;

 

(c)                                  Before and
after giving effect to this Amendment, the representations and warranties set
forth in the Credit Agreement are true and correct in all material respects
with the same effect as if made on the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date in which
case they shall be true and correct in all material respects as of such earlier
date; and

 

(d)                                 At the time of
and after giving effect to this Amendment, no Default or Event of Default has
occurred and is continuing.

 

3.                                      Conditions
to Effectiveness.  This Amendment shall become effective on the
date (the “First Amendment Effective Date”) on which each of the
following conditions is satisfied or waived:

 

(a)                                  The
Administrative Agent (or its counsel) shall have received:

 

(1)                                  from Lenders
constituting the Majority Lenders and each of the other parties hereto either (i) a
counterpart of this Amendment signed on behalf of such party or (ii) written
evidence satisfactory to the Administrative Agent (which may include telecopy
transmission or “.PDF” of a signed signature page of this Amendment) that
such party has consented in writing to amend the Credit Agreement pursuant to
this Amendment;

 

(2)                                  from Lenders
constituting the Majority Lenders party to the EnergySolutions Credit Agreement
and each of the other parties thereto either (i) a counterpart of
EnergySolutions Amendment No. 1 signed on behalf of such party or (ii) written
evidence satisfactory to the Administrative Agent (which may include telecopy
transmission or “.PDF” of a signed signature page of EnergySolutions
Amendment No. 1) that such party has consented in writing to amend the
Credit Agreement pursuant to EnergySolutions Amendment No. 1;

 

3

 

(b)                                 All corporate
and other proceedings, if any, taken or to be taken in connection with this
Amendment and all documents incidental thereto, whether or not referred to
herein, shall be satisfactory in form and substance to the Administrative Agent
and its counsel;

 

(c)                                  The
Administrative Agent shall have received all reasonable costs, fees, expenses
and other amounts due and payable on or prior to the First Amendment Effective
Date, including reimbursement or payment of all reasonable out-of-pocket
expenses (including the reasonable fees, disbursements and other charges of
Cahill Gordon & Reindel LLP, counsel for the Administrative Agent)
required to be reimbursed or paid by EnergySolutions, and for which invoices
have been presented to EnergySolutions on or prior to the business day prior to
the First Amendment Effective Date;

 

(d)                                 All
representations and warranties set forth in Section 2 hereof shall be true
and correct as of such date;

 

(e)                                  The
Administrative Agent shall have received for the account of each Lender who
executes and delivers to the Administrative Agent this Amendment prior to 12:00
noon Eastern Standard  Time on January 13,
2010 an amendment fee equal to 0.25% of the aggregate principal amount of Loans
under the Credit Agreement held by such Lender.

 

4.                                      Reference
to the Effect on the Loan Documents

 

(a)                                  As of the First
Amendment Effective Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or
words of like import, and each reference in the other Loan Documents to the
Credit Agreement (including, without limitation, by means of words like “thereunder”, “thereof” and
words of like import), shall mean and be a reference to the Credit Agreement,
as amended hereby, and this Amendment and the Credit Agreement shall be read together
and construed as a single instrument.

 

(b)                                 Except as
expressly amended hereby or specifically waived above, all of the terms and
provisions of the Credit Agreement and all other Loan Documents are and shall
remain in full force and effect and are hereby ratified and confirmed.

 

(c)                                  The execution,
delivery and effectiveness of this Amendment shall not, except as expressly
provided herein, operate as a waiver of any right, power or remedy of the
Lenders, Duratek or the Administrative Agent under any of the Loan Documents,
nor constitute a waiver or amendment of any other provision of any of the Loan
Documents or for any purpose except as expressly set forth herein.

 

(d)                                 This Amendment
is a Loan Document.

 

4

 

5.                                      Counterparts.  This Amendment may be
executed in any number of counterparts and by different parties hereto on
separate counterparts, each of which when so executed and delivered shall be
deemed to be an original, but all of which when taken together shall constitute
a single instrument.  Delivery of an
executed counterpart of a signature page of this Amendment by facsimile
transmission shall be effective as delivery of a manually executed counterpart
hereof.

 

6.                                      Applicable
Law.  THIS AGREEMENT SHALL BE
GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK.

 

7.                                      Severability.  The fact that any term or provision of this
Agreement is held invalid, illegal or unenforceable as to any person in any
situation in any jurisdiction shall not affect the validity, enforceability or
legality of the remaining terms or provisions hereof or the validity,
enforceability or legality of such offending term or provision in any other
situation or jurisdiction or as applied to any person.

 

8.                                      Headings.  The headings of this Amendment are for
purposes of reference only and shall not limit or otherwise affect the meaning
hereof.

 

9.                                      Affirmations.

 

(a)                                  Duratek (i) expressly acknowledges the terms of
the Credit Agreement, as amended by this Amendment, (ii) ratifies and
affirms its obligations under the Loan Documents (including but not limited to
security documents and guarantees) executed by it and (iii) acknowledges,
renews and extends its continued liability under all such Loan Documents and
agrees such Loan Documents remain in full force and effect.

 

(b)                                 Duratek hereby reaffirms, as of the date hereof, (i) the
covenants and agreements contained in each Loan Document to which it is a
party, including, in each case, such covenants and agreements as in effect
immediately after giving effect to this Amendment and the transactions
contemplated hereby, and (ii) the Lien on the Collateral securing payment
of the Obligations pursuant to the Security Documents.

 

 [SIGNATURE PAGES FOLLOW]

 

5

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed as of the date first above written.

 

	
   

  	
  DURATEK,
  INC.,

  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Richard Tooze

  
	
   

  	
   

  	
  Name:
  

  	
  Richard
  Tooze

  
	
   

  	
   

  	
  Title:

  	
  Senior
  Vice President and Treasurer

  

 

[SIGNATURES CONTINUE ON THE FOLLOWING PAGES]

 

 

	
   

  	
  CITICORP
  NORTH AMERICA, INC.,

  
	
   

  	
  as
  Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Anthony V. Pantina

  
	
   

  	
   

  	
  Name:

  	
  Anthony
  V. Pantina

  
	
   

  	
   

  	
  Title:

  	
  VP/Director

  

 

2

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