Document:

Exhibit 10.1

 

CONSENT TO CREDIT AND SECURITY AGREEMENT

This Consent to Credit and Security Agreement (this “Agreement”) is entered into and is dated as of December 5, 2014, by and among Synergetics, Inc. and Synergetics USA, Inc., jointly and severally (the “Borrowers” and each individually a “Borrower”) and Regions Bank (the “Lender”).

 

RECITALS

 

A.                 Lender and Borrowers entered into a Credit and Security Agreement dated as of March 13, 2006 (as amended, modified, restated or replaced from time to time, the “Loan Agreement”).

 

B.                  Borrowers have requested the Lender to provide the consents contained herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Lender and Borrowers agree as follows:

 

1.                  Defined Terms.  Each term used herein without definition shall have the same meaning as set forth in the Loan Agreement.

 

2.                   Effectiveness of Agreement.   This Agreement shall become effective as of the date first written above, but only if this Agreement has been executed by Borrower and Lender, if the other items listed on Exhibit A attached hereto, if any, have been delivered and, as applicable, executed, sealed, attested, acknowledged, certified, or authenticated, each in form and substance satisfactory to Lender.

 

3.                  Consent to Acquisition and use of Revolving Loan.  Borrowers have advised the Lender that on the date hereof Synergetics Surgical EU Limited, a private limited company incorporated in England and Wales under Company Number 08531144 and a wholly owned subsidiary of the Borrowers, intends to acquire 100% of the capital securities of Sterimedix Limited, a private limited company incorporated in England and Wales under Company Number 02453871 (the “Target”) pursuant to a Share Purchase Agreement dated on or about December 8, 2014 (such agreement together with all other documents and agreements executed in connection therewith from time to time being, the “Transaction Documents”) for an approximate cash purchase price (subject to customary adjustments for working capital and agreed-upon levels of cash) of approximately $13,500,000 (the “Cash Purchase Price”) plus earn-out payments.  Subject to the terms hereof, including, without limitation, the delivery of the documents and agreement set forth on Exhibit A attached hereto, if all of the Target’s assets and all of the capital securities of Target are free and clear of all Liens other than, subject to the proviso below, the Floating Lien to secure the Floating Lien Liabilities up to the Floating Lien Limit, then the Lender hereby consents to the consummation of the transactions of the purchase contemplated by the Transaction Documents and consents to an Advance of up to $6,500,000 of the Revolving Loan Commitment (the “Closing Revolving Loan Advance”) being funded on the date hereof to be used to pay a portion of the Cash Purchase Price, provided, however, if the Closing Revolving Loan Advance is not repaid in full on or before the closing of business on December 16, 2014, which such repayment may be made by a new Term Loan from Regions Bank and if on such date, then any such failure shall be an immediate Event of Default, and provided further, however, the foregoing consent is conditioned upon (i) the Floating Lien being terminated on or before February 28, 2015 or otherwise limited in amount and scope in a manner reasonably satisfactory to the Lender on or before such date and (ii) the amount secured by the Floating Lien not exceeding the Floating Lien Limit or securing any debt or other obligation other than the Floating Lien Liabilities.  Schedule 5.4 is hereby deemed amended to include Sterimedix Limited.  As used herein, (I) “Floating Lien” means that certain floating charge given by the Target in favor of National Westminster Bank, PLC on all of Target’s personal property, (II) “Floating Lien Limit” means up to £500,000.00 in the aggregate outstanding at any time, and (III) “Floating Lien Liabilities” means credit card exposure, foreign exchange exposure, daily settlement exposure and check clearing exposure with National Westminster Bank, PLC.  Promptly, but in any event, on or before December 16, 2014, the Borrower shall provide to Lender executed copies of all material Transaction Documents.

 

4.                   Representations and Warranties.  Borrowers hereby jointly and severally covenant, represent and warrant to Lender as follows:

 

4.1.             This Agreement, the Loan Agreement, each other Loan Document and each Transaction Document have been duly and validly executed by each Borrower and constitutes the legal, valid and binding obligation of each Borrower enforceable against each Borrower in accordance with its terms.  No consents are necessary from any third parties for the Borrowers’ execution, delivery or performance of this Agreement, the Loan Agreement or any other Loan Document.  The Loan Agreement and each of the other Loan Documents remain in full force and effect and remain the valid and binding obligation of each Borrower enforceable against each Borrower in accordance with its terms.  Each Borrower hereby ratifies and confirms the Loan Agreement and each other Loan Document.

 

4.2.             After giving effect to this Agreement, no default or Event of Default has occurred or now exists under the Loan Agreement and no default or Event of Default will occur as a result of the effectiveness of this Agreement.

 

4.3.              The representations and warranties of each Borrower contained in the Loan Agreement and the other Loan Documents are true and correct in all material respects on and as of the date hereof (except to the extent that any such representation and warranty is qualified by materiality, material adverse effect or a similar standard in which case such representation and warranty shall be true and correct in all respects on and as of the date hereof).

 

4.4.              The transactions contemplated by the Transaction Documents will be consummated in compliance with all applicable laws, rules and regulations.

 

5.                   Release.  IN CONSIDERATION OF THE CONSENTS OF THE LENDER CONTAINED HEREIN, EACH BORROWER HEREBY RELEASES, DISCHARGES AND ACQUITS FOREVER LENDER AND ANY OF ITS OFFICERS, DIRECTORS, SERVANTS, AGENTS, EMPLOYEES AND ATTORNEYS, PAST AND PRESENT, FROM ANY AND ALL CLAIMS, DEMANDS AND CAUSES OF ACTION, OF WHATEVER NATURE, WHETHER IN CONTRACT OR TORT, ACCRUED OR TO ACCRUE, CONTINGENT OR VESTED, KNOWN OR UNKNOWN, ARISING OUT OF OR RELATING TO THE LOANS EVIDENCED BY THE LOAN AGREEMENT, LENDER’S ADMINISTRATION OF THE LOANS, THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS, AND ANY OTHER ACTIONS TAKEN PURSUANT TO OR IN CONNECTION WITH THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS; PROVIDED, HOWEVER, THAT THE FOREGOING RELEASE AND THE FOLLOWING INDEMNITY RELATE ONLY TO ACTIONS OR INACTIONS OF LENDER THROUGH THE DATE HEREOF.  EACH BORROWER HEREBY FURTHER INDEMNIFIES AND HOLDS LENDER, AND ALL OFFICERS, DIRECTORS, SERVANTS, AGENTS, EMPLOYEES AND ATTORNEYS OF LENDER, PAST OR PRESENT, HARMLESS FROM ANY AND ALL SUCH CLAIMS, DEMANDS AND CAUSES OF ACTION BY BORROWERS, OR ANYONE CLAIMING BY, THROUGH OR UNDER BORROWERS, SAID INDEMNITY TO COVER ALL LOSSES, EXPENSES INCURRED BY LENDER, ITS OFFICERS, DIRECTORS, SERVANTS, AGENTS, EMPLOYEES OR ATTORNEYS, PAST OR PRESENT, IN CONNECTION WITH ANY SUCH CLAIMS, DEMANDS, OR CAUSE OF ACTION, INCLUDING ALL ATTORNEYS’ FEES AND COSTS.

 

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6.                   Payment of Costs/Expenses.  Without limiting the generality of provisions in the Loan Agreement relating to payment of Lender’s costs and expenses, Borrowers will pay all reasonable out-of-pocket expenses, costs and charges of attorneys to Lender in connection with the preparation and implementation of this Agreement.

 

7.                  Other Documents/Provisions to Remain in Force.  The Loan Agreement and each of the other Loan Documents and all indebtedness incurred pursuant thereto, shall remain in full force and effect and are in all respects hereby ratified and affirmed.  Borrowers have no defenses to their obligations under the Loan Agreement and the other Loan Documents, and the Obligations are due and owing to Lender without setoff or counterclaim.  The Security Interests of Lender under the Loan Agreement and the other Loan Documents secure all the Obligations, are reaffirmed in all respects, continue in full force and effect, have the same priority as before this Agreement, and are not impaired or extinguished in any respect by this Agreement.  This Agreement does not create or constitute, and is not, a novation of the Loan Agreement and the other Loan Documents, and Borrowers hereby ratify and confirm the Obligations.  Until the Obligations are paid in full in cash and all obligations and liabilities of Borrower under this Loan Agreement and the Loan Documents are performed and paid in full in cash, Borrower agrees and covenants that they are respectively bound by the covenants and agreements set forth in the Loan Agreement, the other Loan Documents and in this Agreement.  Borrowers have no claim against Lender arising from or in connection with the Loan Agreement or the other Loan Documents.

 

8.                   Successors and Assigns.  Subject to any restriction on assignment by the Borrowers set forth in the Loan Agreement, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

9.                  Section Titles; Recitals.  The Section titles in this Agreement are for convenience of reference only and shall not be construed so as to modify any provisions of this Agreement.  The Recitals to this Agreement are substantive in nature and are incorporated herein.

 

10.               Counterparts.  This Agreement may be executed m any number of counterparts, each of which shall constitute one and the same Agreement.  Signatures to this Agreement may be given by facsimile, PDF format or other electronic transmission, and such signatures shall be fully binding on the party sending the same.

 

11.                Incorporation by Reference; Governing Law.  The Loan Agreement and all exhibits thereto, and the exhibits to this Agreement are incorporated herein by this reference.  This Agreement shall be governed by the laws of the State of Missouri without reference to conflicts of law principles thereunder.

 

12.               Customer Identification - USA PATRIOT Act Notice. Lender hereby notifies each of the Borrowers that, pursuant to the requirements of the USA Patriot Act, Title III of Pub. L. 107-56, signed into law October 26, 2001 (as amended from time to time (including any successor statute) and together with all rules promulgated thereunder, collectively, the “Act”), it is required to obtain, verify and record information that identifies the Borrowers and each other Person liable on or with respect to the Obligations, which information includes the name and address of the Borrowers and each such other Person and other information that will allow Lender to identify the Borrowers and each such other Person in accordance with the Act.

 

13.               Notice-Oral Commitments Not Enforceable.  The following notice is given pursuant to Section 432.047 of the Missouri Revised Statutes; nothing contained in such notice shall be deemed to limit or modify the terms of the Loan Documents:

 

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ORAL OR UNEXECUTED AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM ENFORCING REPAYMENT  OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE,  REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED THAT IS IN ANY WAY RELATED  TO THE CREDIT AGREEMENT. TO PROTECT YOU (BORROWER(S)) AND US (CREDITOR) FROM  MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH  MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE  STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.

 

Each Borrower acknowledges that there are no other agreements between Lender and any Borrower, oral or written, concerning the subject matter of the Loan Documents, and that all prior agreements concerning the same subject matter, including any proposal or commitment letter, are merged into the Loan Documents and thereby extinguished.

 

14.               Notice-Insurance.  The  following notice is given pursuant to Section 427.120 of the Missouri Revised Statutes; nothing contained in such notice shall be deemed to limit or modify the terms of the Loan Documents:

 

UNLESS YOU PROVIDE EVIDENCE OF THE INSURANCE COVERAGE REQUIRED BY YOUR AGREEMENT WITH US, WE MAY PURCHASE INSURANCE AT YOUR EXPENSE TO PROTECT OUR INTERESTS IN YOUR COLLATERAL.  THIS INSURANCE MAY, BUT NEED NOT, PROTECT YOUR INTERESTS.  THE COVERAGE THAT WE PURCHASE MAY NOT PAY ANY CLAIM THAT YOU MAKE OR ANY CLAIM THAT IS MADE AGAINST YOU IN CONNECTION WITH THE COLLATERAL.  YOU MAY LATER CANCEL ANY INSURANCE PURCHASED BY US, BUT ONLY AFTER PROVIDING EVIDENCE THAT YOU HAVE OBTAINED INSURANCE AS REQUIRED BY OUR AGREEMENT.  IF WE PURCHASE INSURANCE FOR THE COLLATERAL, YOU WILL BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE, INCLUDING THE INSURANCE PREMIUM, INTEREST AND ANY OTHER CHARGES WE MAY IMPOSE IN CONNECTION WITH THE PLACEMENT OF THE INSURANCE, UNTIL THE EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE INSURANCE.  THE COSTS OF THE INSURANCE MAY BE ADDED TO YOUR TOTAL OUTSTANDING BALANCE OR OBLIGATION.  THE COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF INSURANCE YOU MAY BE ABLE TO OBTAIN ON YOUR OWN.

 

[Remainder of page intentionally blank.  Signature page follows.]

 

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IN WITNESS WHEREOF, Lender and the Borrowers have caused this Agreement to be executed as of the date and year first above written.

 

	 	
BORROWERS:

	 
	 	 	 	 
	 	
SYNERGETICS, INC.

	 
	 	 	 	 
	 	
By:

	
/s/ Pamela G. Boone

	 
	 	
Name:

	
Pamela G. Boone

	 
	 	
Title:

	
EVP and Chief Financial Officer

	 
	 	 	 	 
	 	
SYNERGETICS USA, INC.

	 
	 	 	 	 
	 	
By:

	
/s/ Pamela G. Boone

	 
	 	
Name:

	
Pamela G. Boone

	 
	 	
Title:

	
EVP and Chief Financial Officer

	 
	 	 	 	 
	 	
LENDER:

	 
	 	 	 	 
	 	
REGIONS BANK

	 
	 	 	 	 
	 	
By:

	
/s/ Anne D. Silvestri

	 
	 	
Name:

	
Anne D. Silvestri

	 
	 	
Title:

	
Senior Vice President

	 

Signature Page to Consent to Credit and Security Agreement

EXHIBIT A

 

TO CONSENT TO CREDIT AND SECURITY AGREEMENT

		1.	This Consent to Credit and Security Agreement.

 

		2.	Good Standing Certificate from the Secretary of State of Missouri with respect to Synergetics, Inc.

 

		3.	Good Standing Certificate from the Secretary of State of Delaware with respect to Synergetics USA, Inc.

 

		4.	Secretary’s or Assistant Secretary’s Certificate of Synergetics, Inc. certifying resolutions authorizing the execution, delivery and performance of this Consent and the Transaction Documents.

 

		5.	Secretary’s or Assistant Secretary’s Certificate of Synergetics USA, Inc. certifying resolutions authorizing the execution, delivery and performance of this Consent and the Transaction Documents.

 

 

A - 1exh10-1_356363.htm

EXHIBIT 10.1

 

 

FIRST AMENDMENT AGREEMENT TO

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS FIRST AMENDMENT AGREEMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “First Amendment”) is entered into effective as of December __, 2014 by and among GTT Communications, Inc., a Delaware corporation; Global Telecom & Technology Americas, Inc., a Virginia corporation; GTT Global Telecom Government Services, LLC, a Virginia limited liability company; NLayer Communications, Inc., an Illinois corporation; PacketExchange (USA), Inc., a Delaware corporation; PacketExchange, Inc., a Delaware corporation; TEK Channel Consulting, LLC, a Colorado limited liability company; WBS Connect LLC, a Colorado limited liability company; Communication Decisions SNVC, LLC, a Virginia limited liability company; CORE180, LLC, a Delaware limited liability company; Electra, Ltd., a Virginia corporation; IDC Global, Inc., a Delaware corporation, and NT Network Services, LLC, a Delaware limited liability company, GTT 360, Inc., a Delaware corporation, Wall Street Network Solutions, LLC, a Delaware limited liability company, American Broadband, Inc., a Delaware corporation, Airband Communications, Inc., a Delaware corporation, Sparkplug, Inc., a Delaware corporation, Trinity Networks, LLC, a Missouri limited liability company, Sparkplug Central, Inc., a Delaware corporation, Sparkplug Southwest, LLC, an Arizona limited liability company, AZX Connect, LLC, an Arizona limited liability company, CNG Communications, Inc., a Delaware corporation, Renaissance Networking, Inc., an Arizona corporation, Sparkplug Las Vegas, Inc., a Nevada corporation (jointly and severally, the “Borrowers”, and each a “Borrower”) each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), WEBSTER BANK, N.A., as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”), Webster Bank, N.A., as sole and exclusive Lead Arranger, East West Bank and Fifth Third Bank as Co-Documentation Agents, Pacific Western Bank as Syndication Agent and Webster Bank, N.A., as L/C Issuer (in such capacity, the “L/C Issuer”).

 

Introduction

 

A.           Borrowers, Lenders and Administrative Agent are parties to the Second Amended and Restated Credit Agreement dated as of August 6, 2014, as amended hereby and as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have agreed to make loans and to provide certain other financial accommodations to Borrowers. 

 

B.           GTT Communications, Inc. desires to effect a sale of its Equity Interests  (the “2014 Issuance”) consisting of up to 7,500,000 shares of its common stock at a minimum per-share price of $10.00 through an offering.

 

C.           By the terms of the Credit Agreement, the 2014 Issuance will not constitute an Excluded Issuance unless a Permitted Acquisition is (x) identified to the Lenders within 180 days after such issuance, and (y) consummated within 365 days of such issuance, and all proceeds of the 2014 Issuance are required to be promptly applied to the repayment of the Loans as set forth in Section 2.05(b)(v) of the Credit Agreement upon failure to meet the time periods set forth in either of the foregoing clauses (x) or (y) (the “Mandatory Prepayment”).

 

D.           The Borrowers have requested that the Required Lenders amend the Credit Agreement, solely with respect to the 2014 Issuance, to postpone the date of the Mandatory Prepayment until the Maturity Date.

 

 

  

  

  

 

 

E.           The Administrative Agent and the Required Lenders are willing to amend the Mandatory Prepayment in connection with the 2014 Issuance as expressly provided below.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows.

 

1.   Amendments to the Credit Agreement.

 

(a)   Amendments to Section 1.01 (Defined Terms).  Section 1.01 of the Credit Agreement is hereby amended by:

 

(i)           adding the following definitions alphabetically therein:

 

“2014 Issuance” has the meaning set forth in the introduction to the First Amendment.

“First Amendment Effective Date” means the date upon which all conditions precedent to the First Amendment Agreement relating to this Credit Agreement shall have been satisfied or waived by the Administrative Agent.

(b)   Amendment to “Excluded Issuance” definition.  The definition of “Excluded Issuance” appearing in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition in its entirety, and inserting in lieu thereof the following::

 

	 	
“Excluded Issuance” means the issuance of equity securities by any Loan Party at any time when no Default or Event of Default has occurred and is continuing (or would result therefrom) (1) to members of the management, employees or directors of any Loan Party or any (including, without limitation, issuances pursuant to employee benefit plans, stock option or other compensation arrangements, stock purchase programs and equity plans) or to any consultants of a Loan Party, (2) to any Person (or such Person’s Affiliates) that owns equity securities of any Loan Party (other than the Parent) as of the Second Restatement Date or which holds any preemptive or similar rights to own equity securities as of the Second Restatement Date, (3) to any Person, the proceeds of which will be used, within 180 days following the issuance thereof, to make (i) Capital Expenditures, and (ii) Investments of the type permitted by the terms of Section 7.03 (excluding Section 7.03(g)), (4) to the Parent or any Subsidiary of the Parent by any Subsidiary of the Parent, or (5) in order to consummate a Permitted Acquisition which is (x) identified to the Lenders within 180 days after such issuance, and (y) consummated within 365 days of such issuance (all proceeds of such issuance to be promptly applied to the prepayment of the Loans as set forth in Section 2.05(b)(v) upon failure to meet the time periods set forth in either of the foregoing clauses (x) or (y), provided, that solely in the case of the 2014 Issuance, regardless of the 

 

 

  

2

  

 

 

	 	
Borrowers’ failure to meet the time periods set forth in either of the foregoing clauses (x) or (y), proceeds of the 2014 Issuance (or available funds in an amount equal thereto) shall be applied to repayment of the Loans on the Maturity Date) or (6) by the Parent in connection with the WSNS Acquisition, in an aggregate amount not to exceed $1,000,000. For purposes of clarity, the obligation of the Borrowers to repay proceeds of the 2014 Issuance (or available funds in an amount equal thereto) on the Maturity Date (in the event the 2014 Issuance does not constitute an Excluded Issuance) is part of, but not in addition to, the Borrowers’ obligation to repay all outstanding Loans and other Obligations on the Maturity Date.”

 

2.   A.           Representations and Warranties.  Each Borrower hereby represents and warrants to the Lenders that:

 

(a)   The execution, delivery, and performance of this First Amendment, the Credit Agreement and the other Loan Documents (i) are within such Borrower’s corporate or limited liability company powers, as applicable, (ii) have been duly authorized by all necessary corporate or limited liability company action, as applicable, (iii) do not require any approval or consent of any Person under any contractual obligation of such Borrower and (iv) do not contravene (A) any law, rule, or regulation, or any order, judgment, decree, writ or injunction, or award of any arbitrator, court, or Governmental Authority, (B) the terms of its Organization Documents or (C) any material contract or undertaking to which it is a party or by which any of its properties may be bound or affected;

 

(b)   this First Amendment has been duly executed and delivered by such Borrower;

 

(c)   this First Amendment, the Credit Agreement and the other Loan Documents constitute such Borrower’s legal, valid, and binding obligations, enforceable against such Borrower in accordance with their respective terms;

 

(d)   such Borrower is in compliance with all of the terms and provisions set forth in the Credit Agreement and each of the other Loan Documents, each as amended hereby, on its part to be observed or performed on or prior to the date hereof in all material respects;

 

(e)   no Default or Event of Default has occurred and is continuing; and

 

(f)   since the Second Restatement Date, there has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect.

 

B.           Conditions Precedent to First Amendment Effective Date:  The satisfaction of each of the following, unless waived or deferred by the Administrative Agent, in its sole discretion, shall constitute conditions precedent to the effectiveness of this First Amendment (the date of satisfaction of each of the conditions set forth below being referred to as the “First Amendment Effective Date”):

 

(i) The Administrative Agent shall have received two (2) copies of this First Amendment executed by each of the Borrowers and the Required Lenders; and

 

 

  

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(ii) no Default or Event of Default shall have occurred and be continuing.

 

3.   Reaffirmation.  Borrowers, Administrative Agent and Lenders each reaffirm all of their respective obligations under the Credit Agreement and the other Loan Documents, each as amended hereby.

 

4.   Effect on Credit Agreement.  The execution, delivery, and performance of this First Amendment shall not operate as a waiver of or, except as expressly provided herein, as an amendment of, any right, power, or remedy of the Administrative Agent or Lenders under the Credit Agreement or any other Loan Document.  Except to the extent expressly amended hereby, the Credit Agreement and all other Loan Documents shall be unaffected hereby, shall continue in full force and effect, are hereby in all respects ratified and confirmed, and shall constitute the legal, valid, binding and enforceable obligations of each Borrower.

 

5.   No Novation; Entire Agreement.  This First Amendment evidences solely the amendment of the terms and provisions of the Borrowers’ obligations under the Credit Agreement specified herein and is not a novation or discharge thereof.  There are no other understandings, express or implied, among Lenders and Borrowers regarding the subject matter hereof.

 

6.   Choice of Law.  The validity of this First Amendment, its construction, interpretation and enforcement, and the rights of the parties hereunder, shall be determined under, governed by, and construed in accordance with the laws of the State of New York without regard to conflicts of laws principles.

 

7.   Definitions and Construction.  Capitalized terms used but not otherwise defined herein shall have the respective meanings given to such terms in the Credit Agreement, as amended hereby.  Upon and after the effectiveness of this First Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof”, or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended hereby.

 

8.   Counterparts; Delivery by Facsimile or Electronic Mail.  This First Amendment may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed and delivered, shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument.  Delivery of an executed counterpart of a signature page to this First Amendment by facsimile or electronic mail shall be as effective as delivery of a manually executed counterpart of this First Amendment.  Any party delivering an executed counterpart of this First Amendment by facsimile or electronic mail also shall deliver a manually executed counterpart of this First Amendment but the failure to deliver a manually executed counterpart shall not affect the validity, enforceability, and binding effect of this First Amendment.

 

[signatures on the following page]

 

  

4

  

 

 

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

 

	  	
BORROWERS:

	  	  
	  	
GTT COMMUNICATIONS, INC., f/k/a GLOBAL TELECOM & TECHNOLOGY, INC., as Borrower, Parent and Lead Borrower

	  	  
	  	  
	  	
By:

	
/s/ Michael Bauer 

	  	
Name:  Michael Bauer

	  	
Title:    CFO

	  	  
	  	  
	  	
GLOBAL TELECOM & TECHNOLOGY AMERICAS, INC.

	  	  
	  	  
	  	
By:

	
/s/ Michael Bauer 

	  	
Name:  Michael Bauer

	  	
Title:    CFO

	  	  
	  	  
	  	
GTT GLOBAL TELECOM GOVERNMENT SERVICES, LLC

	  	  
	  	  
	  	
By:

	
/s/ Michael Bauer 

	  	
Name:  Michael Bauer

	  	
Title:    CFO

	  	  
	  	  
	  	
NLAYER COMMUNICATIONS, INC.

	  	  
	  	  
	  	
By:

	
/s/ Michael Bauer 

	  	
Name:  Michael Bauer

	  	
Title:    CFO

	  	  
	  	  
	  	
PACKETEXCHANGE (USA), INC.

	  	  
	  	  
	  	
By:

	
/s/ Michael Bauer 

	  	
Name:  Michael Bauer

	  	
Title:    CFO

  

  Signature Page to First Amendment to

Second Amended and Restated Credit Agreement

  

	 	
 

	 	 
	 	

PACKETEXCHANGE INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	

TEK CHANNEL CONSULTING, LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	
WBS CONNECT LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	

COMMUNICATION DECISIONS - SNVC, LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	
CORE180, LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	 ELECTRA LTD.
	 	 
	 	 
	 	 By:	 /s/ Michael Bauer 
	 	 Name: Michael Bauer
	 	 Title:  CFO
	 	 
	 	 

  

Signature Page to First Amendment to

Second Amended and Restated Credit Agreement

  

	 	
  

	 	 
	 	

IDC GLOBAL, INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	

NT NETWORK SERVICES, LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	
GTT 360, INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	

WALL STREET NETWORK SOLUTIONS, LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	
AMERICAN BROADBAND, INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	AIRBAND COMMUNICATIONS, INC.
	 	 
	 	 
	 	By:	/s/ Michael Bauer 
	 	Name: Michael Bauer
	 	Title: CFO
	 	 

	 	 
	 	

SPARKPLUG CENTRAL, INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 

  

Signature Page to First Amendment to

Second Amended and Restated Credit Agreement

  

	 	
  

	 	 
	 	

SPARKPLUG SOUTHWEST, LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	

AZX CONNECT, LLC

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	
CNG COMMUNICATIONS, INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	

RENAISSANCE NETWORKING, INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 
	 	
SPARKPLUG LAS VEGAS, INC.

	 	 
	 	 
	 	
By:

	
/s/ Michael Bauer 

	 	
Name: Michael Bauer

	 	
Title: CFO

	 	 
	 	 

 

 

  

Signature Page to First Amendment to

Second Amended and Restated Credit Agreement

  

	  	
ADMINISTRATIVE AGENT

	  	
AND REQUIRED LENDERS:

	  	  
	  	
WEBSTER BANK, N.A., as Administrative Agent and Lender

	  	  
	  	  
	  	
By:

	
/s/ Andre Paquette

	  	
Name:  Andre Paquette

	  	
Title:    Senior Vice President

	  	  
	  	  
	  	
WEBSTER BANK, N.A., as L/C Issuer

	  	  
	  	  
	  	
By:

	
/s/ Andre Paquette

	  	
Name:  Andre Paquette

	  	
Title:    Senior Vice President

	  	  
	  	  
	  	
NEWSTAR LOAN FUNDING, LLC

	  	
By:  NewStar Financial, Inc., its Manager

	  	  
	  	  
	  	
By:

	
/s/ Jeffrey R. Greene

	  	
Name:  Jeffrey R. Greene

	  	
Title:    Managing Director

	  	  
	  	  
	  	
NEWSTAR COMMERCIAL LOAN

	  	
TRUST 2007-1

	  	
By:  NewStar Financial, Inc., as Servicer

	  	  
	  	  
	  	
By:

	
/s/ Jeffrey R. Greene

	  	
Name:  Jeffrey R. Greene

	  	
Title:    Managing Director

	  	  
	  	  
	  	
NEWSTAR COMMERCIAL LOAN

	  	
FUNDING 2012-2 LLC

	  	
By:  NewStar Financial, Inc., its Designated Manager

	  	  
	  	  
	  	
By:

	
/s/ Jeffrey R. Greene

	  	
Name:  Jeffrey R. Greene

	  	
Title:    Managing Director

	  	  
	  	  

 

 

  

  

  

 

 

	  	
NEWSTAR ARLINGTON SENIOR LOAN PROGRAM LLC

	  	
By:  NewStar Financial, Inc., its Designated Manager

	  	  
	  	  
	  	  
	  	
By:

	
/s/ Jeffrey R. Greene

	  	
Name:  Jeffrey R. Greene

	  	
Title:    Managing Director

	  	  
	  	  
	  	
PACIFIC WESTERN BANK

	  	  
	  	  
	  	  
	  	
By:

	
/s/ Robert Dailey

	  	
Name:  Robert Dailey

	  	
Title:    Senior Vice Presdient

	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

 

 

  

  

  

 

 

 

	  	
CIT FINANCE LLC

	  	  
	  	  
	  	  
	  	
By:

	
/s/ Pauline Roh

	  	
Name:   Pauline Roh

	  	
Title:     Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00238-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00238-of-00352.parquet"}]]