Document:

Exhibit

Exhibit 10.1

THIRD AMENDMENT 

Dated as of February 8, 2018

to the

CREDIT AGREEMENT

dated as of January 8, 2016

among

COMPUTER PROGRAMS AND SYSTEMS, INC.
as Borrower,

CERTAIN Subsidiaries OF THE BORROWER
PARTY HERETO FROM TIME TO TIME,
as Guarantors

THE LENDERS PARTY THERETO,

REGIONS BANK,
as Administrative Agent and Collateral Agent,

COMPASS BANK,
as Syndication Agent

and 

HANCOCK BANK, 
as Documentation Agent

REGIONS CAPITAL MARKETS,
a division of Regions Bank,
as Sole Lead Arranger and Sole Bookrunner

Exhibit 10.1

THIRD AMENDMENT

THIS THIRD AMENDMENT (this “Amendment”) dated as of February 8, 2018 to the Credit Agreement referenced below is by and among COMPUTER PROGRAMS AND SYSTEMS, INC., a Delaware corporation (the “Borrower”), the Guarantors identified on the signature pages hereto, the Lenders identified on the signature pages hereto (the “Incremental Lenders”), and REGIONS BANKS, as Administrative Agent (the “Administrative Agent”). 

W I T N E S S E T H :

WHEREAS, credit facilities have been extended to the Borrower pursuant to the Credit Agreement, dated as of January 8, 2016 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among the Borrower, the Guarantors identified therein, the Lenders identified therein, and Regions Bank, as Administrative Agent and Collateral Agent; and

WHEREAS, the Borrower has notified the Administrative Agent that pursuant to Section 2.1(d) of the Credit Agreement the Incremental Lenders have agreed to increase the Revolving Commitments in the amount of $5,000,000 (the “Incremental Facility”).

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.    Defined Terms.  Capitalized terms used herein but not otherwise defined herein shall have the meanings provided to such terms in the Credit Agreement.

2.    Amendments to the Credit Agreement.

2.1.    This Amendment is an Incremental Facility Amendment. 

2.2.    Subject to the terms and conditions provided herein, the Incremental Facility is established pursuant to Section 2.1(d) of the Credit Agreement.  

2.3    Each Incremental Lender agrees that its Revolving Commitment is increased by the amount set forth on Appendix A hereto.

2.4.    Immediately after giving effect to this Incremental Facility Amendment, each Incremental Lender shall make Revolving Loans on the date hereof, the proceeds of which may be used by the Administrative Agent to repay Revolving Loans of each other Lender, in each case, in an amount necessary such that after giving effect thereto each Lender holds its ratable portion of the outstanding Revolving Loans  and the Borrower shall pay any amounts required pursuant to Section 3.1(c) of the Credit Agreement as a result of any such prepayment of Revolving Loans.  

2.5    Immediately after giving effect to this Incremental Facility Amendment, each Lender with a Revolving Commitment (including each Incremental Lender) is deemed to have purchased from (x) the Issuing Bank a participation in each outstanding Letter of Credit issued by the Issuing Bank in an amount equal to the product of such Lender’s Revolving Commitment Percentage times the amount of such Letter of Credit and (y) the Swingline Lender a participation in each outstanding Swingline Loan in an amount equal to the product of such Lender’s Revolving Commitment Percentage times the amount of such Swingline Loan.  

Exhibit 10.1

2.6    In the definition of “Aggregate Revolving Commitments” in Section 1.1 of the Credit Agreement, the second sentence is amended to read as follows:

The aggregate principal amount of the Aggregate Revolving Commitments in effect on the effective date of the Third Amendment to this Agreement is FIFTY MILLION DOLLARS ($50,000,000).

2.7    In the definition of “Revolving Commitment” in Section 1.1 of the Credit Agreement, the last sentence is amended to read as follows:

The aggregate principal amount of the Revolving Commitments in effect on the effective date of the Third Amendment to this Agreement is FIFTY MILLION DOLLARS ($50,000,000).
 
3.     Conditions Precedent.  This Amendment shall become effective as of the date hereof upon satisfaction of each of the following conditions precedent in each case in a manner reasonably satisfactory to the Administrative Agent:

3.1.    Amendment.  Receipt by the Administrative Agent of executed counterparts of this Amendment properly executed by an Authorized Officer of each Credit Party, each Incremental Lender and the Administrative Agent.

3.2    Opinions of Counsel.  Receipt by the Administrative Agent of customary opinions of counsel for each of the Credit Parties, including, among other things, opinions regarding the due authorization, execution and delivery of this Amendment and the enforceability hereof.  

3.3.    Resolutions; Good Standings.  Receipt by the Administrative Agent of the following:

(a)    such certificates of resolutions or other action, incumbency certificates and/or other certificates of an Authorized Officer of each Credit Party as the Administrative Agent may reasonably require evidencing the identity, authority and capacity of each Authorized Officer thereof authorized to act as an Authorized Officer in connection with this Amendment; and

(b)     such documents and certifications as the Administrative Agent may reasonably require to evidence that each Credit Party is duly organized or formed, and is validly existing, in good standing and qualified to engage in business in its state of organization or formation..

3.5.    Fees and Expenses.  The Administrative Agent shall have confirmation that all reasonable out-of-pocket fees and expenses required to be paid on or before the date hereof have been paid, including the reasonable out-of-pocket fees and expenses of counsel for the Administrative Agent.

For purposes of determining compliance with the conditions specified in this Section 4, each Lender that has signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed effectiveness specifying its objection thereto.

Exhibit 10.1

4.     Amendment is a “Credit Document”.  This Amendment is a Credit Document and all references to a “Credit Document” in the Credit Agreement and the other Credit Documents (including, without limitation, all such references in the representations and warranties in the Credit Agreement and the other Credit Documents) shall be deemed to include this Amendment.

5.    Representations and Warranties; No Default.  Each Credit Party represents and warrants to the Administrative Agent that, on and as of the date hereof, immediately after giving effect to this Amendment, (a) the representations and warranties contained in Section 6 of the Credit Agreement and in the other Credit Documents are true and correct in all material respects (except to the extent such representation or warranty is already qualified by materiality in which case such representation and warranty is true and correct in all respects) on and as the date hereof, except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct in all material respects (except to the extent such representation or warranty is already qualified by materiality in which case such representation and warranty is true and correct in all respects) as of such earlier date, and (b) no event has occurred and is continuing which constitutes an Event of Default or a Default.

6.    Pro Forma Compliance. Attached hereto as Appendix B are calculations demonstrating that the Borrower is in compliance, on a Pro Forma Basis after giving effect to the incurrence of the Incremental Facility, with the financial covenants set forth in clauses (a) and (b) of Section 8.8, recomputed as of the last day of the most recently ended Fiscal Quarter of the Borrower for which financial statements have been delivered pursuant to Section 7.1 of the Credit Agreement. 

7.    Reaffirmation of Obligations.  Each Credit Party (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations under the Credit Documents and (c) agrees that this Amendment and all documents, agreements and instruments executed in connection with this Amendment do not operate to reduce or discharge such Credit Party’s obligations under the Credit Documents.

8.    Reaffirmation of Security Interests.  Each Credit Party (a) affirms that each of the Liens granted in or pursuant to the Credit Documents are valid and subsisting and (b) agrees that this Amendment and all documents, agreements and instruments executed in connection with this Amendment do not in any manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Credit Documents.

9.    No Other Changes.  Except as modified hereby, all of the terms and provisions of the Credit Documents shall remain in full force and effect.

10.    Counterparts/Facsimile.  This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic imaging means (e.g. “pdf” or “tif” format) shall be effective as delivery of a manually executed counterpart of this Amendment.

11.    Governing Law.  This Amendment shall be deemed to be a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of New York.

 [signature pages follow]

Exhibit 10.1

IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to be duly executed as of the date first written above.
		
	BORROWER:
	COMPUTER PROGRAMS AND SYSTEMS, INC.,

a Delaware corporation
By:    /s/ J. Boyd Douglas                                             
Name: J. Boyd Douglas
Title: CEO
		
	Guarantors: 
	TRUBRIDGE, LLC,

a Delaware limited liability company 

By: Computer Programs and Systems, Inc.
Its: Managing Member
By:    /s/ J. Boyd Douglas                                             
Name: J. Boyd Douglas
Title: CEO
EVIDENT, LLC,
a Delaware limited liability company 

By: Computer Programs and Systems, Inc.
Its: Managing Member
By:    /s/ J. Boyd Douglas                                             
Name: J. Boyd Douglas
Title: CEO 
HEALTHLAND HOLDING INC.,
a Delaware corporation
By:    /s/ J. Boyd Douglas                                             
Name: J. Boyd Douglas
Title: CEO
HEALTHLAND INC.,
a Minnesota corporation
By:    /s/ J. Boyd Douglas                                             
Name: J. Boyd Douglas
Title: CEO

Exhibit 10.1

AMERICAN HEALTHTECH, INC.,
a Mississippi corporation
By:    /s/ J. Boyd Douglas                                             
Name: J. Boyd Douglas
Title: CEO
RYCAN TECHNOLOGIES, INC.,
a Minnesota corporation
By:    /s/ J. Boyd Douglas                                             
Name: J. Boyd Douglas
Title: CEO

Exhibit 10.1

		
	ADMINISTRATIVE AGENT:
	REGIONS BANK

    
    
By:  /s/ Steven Dixon                                                    
Name: Steven Dixon
Title: Director

		
	INCREMENTAL LENDER:
	REGIONS BANK

    
    
By:  /s/ Steven Dixon                                                    
Name: Steven Dixon
Title: Director

Exhibit 10.1

Appendix A

Incremental Revolving Commitments 

	
		
	Lender
	Incremental Revolving Commitment

	Regions Bank
	$5,000,000.00

Exhibit 10.1

Appendix B

Pro Forma Compliance Calculations

Exhibit 10.1

Exhibit 10.1

Exhibit 10.1

Exhibit 10.1EXHIBIT 10.1

 

Release
AGREEMENT

 

This
Release Agreement (“Release) by and between Citius Pharmaceuticals, Inc., (“Citius”)
and Aegis Capital Corp. (“Aegis” and together with Citius, each a “Party”
and collectively the “Parties”) is dated and effective as of the 7th day of November, 2017.

 

WHEREAS,
Citius and Aegis are Parties to that certain Underwriting Agreement dated August 3, 2017 (the “Underwriting Agreement”)
and that certain engagement letter dated April 3, 2017 (the “Engagement Letter”);

 

WHEREAS,
pursuant to the terms of the Underwriting Agreement, Citius retained Aegis as representative of the underwriters named therein,
relating to a firm commitment underwritten public offering of Citius common stock and warrants;

 

WHEREAS,
pursuant to Section 7.3 of the Underwriting Agreement and as referenced in the Engagement Letter, Aegis received an irrevocable
right of first refusal for each and every future public and private equity and debt offering, including all equity linked financings
(a “Future Transaction”) for a period of twelve (12) months after the date the Offering is completed
(the “Right of First Refusal”); and

 

WHEREAS,
the Parties now wish to release Citius from any all obligations related to the Right of First Refusal, including Section 7.3 of
the Underwriting Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements herein contained, the Parties hereby agree as follows:

 

1.  Release
of all obligations under Section 7.3 Right of First Refusal. The Parties acknowledge and agree that, upon receipt by Aegis
and its designees of the Consideration (as defined below), Citius is released from any and all obligations in Section 7.3 in the
Underwriting Agreement and otherwise related to the Right of First Refusal. Citius may retain, engage or solicit any investment
banker, book-runner, financial advisor, underwriter and/or placement agent in a Future Transaction without any notification to
or consent from Aegis and has no obligation to engage Aegis in any manner in any such Future Transaction.

 

2.  Consideration
for Release. Citius agrees that in exchange for the release above it will pay $100,000 in cash to Aegis and issue an aggregate
of 60,000 shares of restricted common equity to the designees of Aegis listed on Schedule A hereto (the “Consideration”).

 

3.  Engagement
Termination. The Parties acknowledge that, upon receipt by Aegis and its designees of the Consideration, any ongoing engagement
between the Parties with respect to Aegis acting as investment banker, book-runner, financial advisor, underwriter and/or placement
agent, whether pursuant to the Underwriting Agreement, Engagement Letter or otherwise, has been terminated.

 

4.  Survival
of Terms. For the avoidance of doubt, the Parties acknowledge that the provisions of the Underwriting Agreement intended to
survive its performance or termination, including, but not limited to, Sections 2, 3, 5, 7.1, 8 and 9 are not effected by this
Release and remain in full force and effect.

 

[Signature
Page Follows]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Release Agreement to be executed as of the day and year first above written.

 

	 	CITIUS
    PHARMCEUTICALS, INC.
	 	 	 
	 	By:	/s/
    Myron Z. Holubiak
	 	Name:	Myron
    Holubiak
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	AEGIS
    CAPITAL CORP.
	 	 	 
	 	By:	/s/
    Thomas J. Higgins
	 	Name:	Thomas
    J. Higgins
	 	Title:	Managing
    Director, Investment Banking

 

[Signature Page to Release Agreement]

 

     

     

    

 

Schedule
A

Aegis
Designees

 

	Name	 	Number of Shares	 
	Harry Ioannou	 	 	12,000	 
	David Bocchi	 	 	12,000	 
	Zachary Hirsch	 	 	12,000	 
	Robert Eide	 	 	12,000	 
	Phillip Michals	 	 	6,000	 
	Raffaele Gambardella	 	 	6,000	 
	Total:	 	 	60,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]