Document:

EXECUTION VERSION

 

 

CONSENT AND FIRST
AMENDMENT TO TREASURY SECURED 

REVOLVING CREDIT AGREEMENT

 

 

 

THIS
CONSENT AND FIRST AMENDMENT TO TREASURY SECURED REVOLVING CREDIT AGREEMENT (this “Consent and Amendment”),
is made and entered into as of March 30, 2012, by and among NGP CAPITAL RESOURCES COMPANY, a Maryland corporation (the “Borrower”),
the several banks and other financial institutions from time to time party hereto (collectively, the “Lenders”)
and SUNTRUST BANK, in its capacity as Administrative Agent for the Lenders (the “Administrative Agent”).

 

WITNESSETH:

 

WHEREAS,
the Borrower, the Lenders and the Administrative Agent are parties to a certain Treasury Secured Revolving Credit Agreement, dated
as of March 31, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”;
capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement),
pursuant to which the Lenders have made certain financial accommodations available to the Borrower;

 

WHEREAS,
the Borrower has requested that the Lenders and the Administrative Agent (i) consent to the repurchase by the Borrower of shares
of its common stock, par value $.001 per share (“Common Stock”) from time to time and (ii) amend certain
provisions of the Credit Agreement, and subject to the terms and conditions hereof, the Lenders are willing to do so;

 

NOW, THEREFORE,
for good and valuable consideration, the sufficiency and receipt of all of which are acknowledged, the Borrower, the Lenders and
the Administrative Agent agree as follows:

 

1. Consent.
Notwithstanding anything to the contrary in the Credit Agreement and subject to the satisfaction of the conditions set forth in
Section 3 below, the Lenders hereby consent to the Borrower’s repurchase of Common Stock from time to time, and waive any
Default associated with such repurchase of Common Stock, provided that (i) at the time of each such repurchase no Default shall
be continuing and (ii) the aggregate consideration paid for all such purchases of Common Stock pursuant to this Consent shall not
exceed $10,000,000.

 

2. Amendment.
Section 1.1 of the Credit Agreement is hereby amended by replacing the definition of “Commitment Termination Date”
in its entirety with the following definition:

 

“Commitment
Termination Date” shall mean the earliest of (i) March 31, 2013, (ii) the date on which the Aggregate Commitments
are terminated pursuant to Section 2.7 and (iii) the date on which all amounts outstanding under this Agreement have been
declared or have automatically become due and payable (whether by acceleration or otherwise).

 

    	 

    	 

    
 

3. Conditions
to Effectiveness of this Consent and Amendment. Notwithstanding any other provision of this Consent and Amendment and without
affecting in any manner the rights of the Lenders hereunder, it is understood and agreed that this Consent and Amendment shall
not become effective, and the Borrower shall have no rights under this Consent and Amendment, until the Administrative Agent shall
have received (i) an arrangement fee in the amount of $125,000, payable to the Administrative Agent for its own account, (ii) such
other fees as the Borrower has previously agreed to pay the Administrative Agent or any of its affiliates in connection with this
Consent and Amendment, (iii) reimbursement or payment of its costs and expenses incurred in connection with this Consent and Amendment
or the Credit Agreement (including reasonable fees, charges and disbursements of King & Spalding LLP, counsel to the Administrative
Agent), (iv) executed counterparts to this Consent and Amendment from the Borrower and the Lenders and (v) a fully executed copy
of that certain Consent, effective as of March 30, 2012, by and among the Borrower, Administrative Agent and other parties thereto,
concerning the Second Amended and Restated Revolving Credit Agreement, dated as of December 6, 2011 (as amended, restated, supplemented
or otherwise modified from time to time).

 

4. Representations
and Warranties. To induce the Lenders and the Administrative Agent to enter into this Consent and Amendment, the Borrower
hereby represents and warrants to the Lenders and the Administrative Agent that:

 

(a) The
Borrower and each of its Subsidiaries (other than any Foreclosed Subsidiary) (i) is duly organized, validly existing and in good
standing as a corporation, partnership or limited liability company under the laws of the jurisdiction of its organization, (ii)
has all requisite power and authority to carry on its business as now conducted, and (iii) is duly qualified to do business, and
is in good standing, in each jurisdiction where such qualification is required, except where a failure to be so qualified would
not reasonably be expected to result in a Material Adverse Effect;

 

(b) The
execution, delivery and performance by the Borrower of the Loan Documents to which it is a party are within the Borrower’s
organizational powers and have been duly authorized by all necessary organizational, and if required, shareholder, partner or member,
action;

 

(c) The
execution, delivery and performance by the Borrower of this Consent and Amendment and of the other Loan Documents to which it is
a party (i) do not require any consent or approval of, registration or filing with, or any action by, any Governmental Authority,
except those as have been obtained or made and are in full force and effect, (ii) will not violate any Requirements of Law applicable
to the Borrower or any of its Subsidiaries or any judgment, order or ruling of any Governmental Authority, (iii) will not violate
or result in a default under any indenture, material agreement or other material instrument binding on the Borrower or any of its
Subsidiaries or any of its assets or give rise to a right thereunder to require any payment to be made by the Borrower or any of
its Subsidiaries and (iv) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its
Subsidiaries, except Liens (if any) created under the Loan Documents;

 

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(d) This
Consent and Amendment has been duly executed and delivered for the benefit of or on behalf of the Borrower and constitutes a legal,
valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms except as the enforceability
hereof may be limited by bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’ rights and
remedies in general; and

 

(e) After
giving effect to this Consent and Amendment, the representations and warranties contained in the Credit Agreement and the other
Loan Documents are true and correct in all material respects, and no Default or Event of Default has occurred and is continuing
as of the date hereof.

 

5. Acknowledgment
of Perfection of Security Interest. The Borrower hereby acknowledges that, as of the date hereof, the security interests
and liens granted to the Administrative Agent and the Lenders under the Credit Agreement and the other Loan Documents are in full
force and effect, are properly perfected and are enforceable in accordance with the terms of the Credit Agreement and the other
Loan Documents.

 

6. Effect
of Consent and Amendment. Except as set forth expressly herein, all terms of the Credit Agreement, as amended hereby, and
the other Loan Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable
obligations of the Borrower to the Lenders and the Administrative Agent. The execution, delivery and effectiveness of this Consent
and Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders
under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement. This Consent and Amendment shall
constitute a Loan Document for all purposes of the Credit Agreement.

 

7.Governing Law.

 

(a) This
Consent and Amendment shall be construed in accordance with and be governed by the law (without giving effect to the conflict of
law principles thereof) of the State of New York.

 

(b)
The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of
the United States District Court of the Southern District of New York, and of any state court of the State of New York
sitting in New York County and any appellate court from any thereof, in any action or proceeding arising out of or relating
to this Consent and Amendment or any other Loan Document or the transactions contemplated hereby or thereby, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that
all claims in respect of any such action or proceeding may be heard and determined in such New York state court or, to the
extent permitted by applicable law, such Federal court. Each of the parties hereto agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by law. Nothing in this Consent and Amendment or any other Loan Document shall affect any right that the
Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Consent and
Amendment or any other Loan Document against the Borrower or its properties in the courts of any jurisdiction.

 

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(c) The
Borrower irrevocably and unconditionally waives any objection which it may now or hereafter have to the laying of venue of any
such suit, action or proceeding described in paragraph (b) of Section 10.5 of the Credit Agreement and brought in any court referred
to in paragraph (b) of Section 10.5 of the Credit Agreement. Each of the parties hereto irrevocably waives, to the fullest extent
permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

(d) Each
party to this Consent and Amendment irrevocably consents to the service of process in the manner provided for notices in Section
10.1 of the Credit Agreement. Nothing in this Consent and Amendment or in any other Loan Document will affect the right of any
party hereto to serve process in any other manner permitted by law.

 

8. No
Novation. This Consent and Amendment is not intended by the parties to be, and shall not be construed to be, a novation
of the Credit Agreement or an accord and satisfaction in regard thereto.

 

9. Costs
and Expenses. The Borrower agrees to pay on demand all costs and expenses of the Administrative Agent in connection with
the preparation, execution and delivery of this Consent and Amendment, including, without limitation, the reasonable fees and out-of-
pocket expenses of outside counsel for the Administrative Agent with respect thereto.

 

10. Counterparts.
This Consent and Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each
of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument.
Delivery of an executed counterpart of this Consent and Amendment by facsimile transmission or by electronic mail in pdf form shall
be as effective as delivery of a manually executed counterpart hereof.

 

11. Binding
Nature. This Consent and Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective
successors, successors-in-titles, and assigns.

 

12. Entire
Understanding. This Consent and Amendment sets forth the entire understanding of the parties with respect to the matters
set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto.

 

[Signature Pages To
Follow]

 

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IN WITNESS WHEREOF, the
parties hereto have caused this Consent and Amendment to be duly executed, under seal in the case of the Borrower, by its respective
authorized officers

as of the day and year first above written.

 

BORROWER:

 

NGP CAPITAL RESOURCES
COMPANY

 

 

 

By:/s/ L. Scott
Biar                                       

Name: L. Scott Biar

Title: Chief Financial Officer, Secretary

   and
Treasurer

 

    	[SIGNATURE
                                                                                                                                                                      PAGE
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                                                                                                                                                                      CONSENT
                                                                                                                                                                      AND
                                                                                                                                                                      FIRST
                                                                                                                                                                      AMENDMENT]

    	 

    
 

 

LENDERS:

 

SUNTRUST BANK,
individually
and as

Administrative Agent

 

 

 

By:/s/ Andrew
Johnson                                

  Name: Andrew Johnson

  Title: Director

 

    	[SIGNATURE PAGE TO CONSENT AND FIRST AMENDMENT]Exhibit 10.9

 

WAIVER AND SECOND AMENDMENT TO SECOND
AMENDED AND 

RESTATED LOAN AND SECURITY AGREEMENT

 

THIS WAIVER AND SECOND
AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Agreement”) is made and entered into as
of the 7th day of May, 2012 between FCC, LLC, d/b/a First Capital, a Florida limited liability company (“Lender”),
and FULL CIRCLE CAPITAL CORPORATION, a Maryland corporation (“Borrower”).

 

W I T N E
S S E T H:

 

WHEREAS, Borrower and
Lender are parties to that certain Second Amended and Restated Loan and Security Agreement dated as of August 31, 2010 (as
amended by that certain First Amendment to Second Amended and Restated Loan and Security Agreement dated as of January 27, 2012
and the same may be further , restated or otherwise modified from time to time, the “Loan Agreement”); and

 

WHEREAS, Borrower has
requested that Lender amend the Loan Agreement as set forth herein, and Lender is willing to do so on the terms and conditions
set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing premises, and other good and valuable consideration, the receipt and legal sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows:

 

1.      Definitions. All capitalized
terms used herein and not otherwise expressly defined herein shall have the respective meanings given to such terms in the Loan
Agreement.

 

2.      Waiver of
Certain Default. Borrower hereby acknowledges and agrees that a Default exists under the Loan Agreement as a result of Borrower’s
failure to comply with the fixed charge coverage ratio contained in Section 6 of the Loan Agreement and Item 18(a) of the Schedule
to the Loan Agreement for the twelve-month period ending on January 31, 2012 (the “Specified Default”). Lender hereby
waives the Specified Default. Nothing contained herein shall be construed as a waiver of any Default other than the Specified Default,
and nothing contained herein shall entitle Borrower to any future waiver or similar accommodation.

 

3.      EBITDA Covenant
in Lieu of Fixed Charge Coverage Ratio. The Loan Agreement is hereby amended by deleting Item 18(a) of the Schedule to the
Loan Agreement and substituting the following in lieu thereof:

 

(a)      Borrower
shall maintain, as of the last day of each month for the twelve-month period then ended, net income (excluding extraordinary gains
and excluding unrealized gains and losses from mark-to-market adjustments) before provision for interest expense, taxes, depreciation
and amortization, of at least $3,500,000.

 

    	 

    	 

    

4.      Ratification
of Loan Documents. Borrower hereby restates, ratifies, and reaffirms each and every term, condition representation and warranty
heretofore made by it under or in connection with the execution and delivery of the Loan Agreement, as amended hereby, and the
other Loan Documents, as fully as though such representations and warranties had been made on the date hereof and with specific
reference to this Agreement and the Loan Documents.

 

5.      No Other Changes.
Except as set forth herein, the Loan Agreement shall be and remain in full force and effect as originally written, and shall constitute
the legal, valid, binding and enforceable obligation of Borrower to Lender.

 

6.      Costs and Expenses.
In consideration of the accommodations made by Lender hereunder, Borrower agrees to pay to Lender, on demand, all costs and expenses
of Lender in connection with the preparation, execution, delivery and enforcement of this Agreement and the other Loan Documents
and any other transactions contemplated hereby and thereby, including, without limitation, the reasonable fees and out-of-pocket
expenses of legal counsel to Lender. Without limiting anything contained in the Loan Agreement, Borrower hereby authorizes Lender
to charge all of such fees, costs and expenses to Borrower’s loan account as such amounts become due and payable.

 

7.      No Default.
To induce Lender to enter into this Agreement, Borrower hereby represents and warrants that, as of the date hereof, and after
giving effect to the terms hereof, there exists no Default under the Loan Agreement or any of the other Loan Documents.

 

8.      Release. To induce Lender
to enter into this Agreement, Borrower (a) acknowledges and agrees that no right of offset, defense, counterclaim, claim or objection
exists in favor of Borrower against Lender arising out of or with respect to the Loan Agreement, the other Loan Documents, the
Obligations, or any other arrangement or relationship between Lender and Borrower, and (b) releases, acquits, remises and forever
discharges Lender and its affiliates and all of their past, present and future officers, directors, employees, agents, attorneys,
representatives, successors and assigns from any and all claims, demands, actions and causes of action, whether at law or in equity,
whether now accrued or hereafter maturing, and whether known or unknown, which Borrower now or hereafter may have by reason of
any manner, cause or things to and including the date of this Agreement with respect to matters arising out of or with respect
to the Loan Agreement, the other Loan Documents, the Obligations, or any other arrangement or relationship between Lender and Borrower.

 

9.      Lender Not Obligated
for Further Amendments. Borrower acknowledges that (a) except as expressly set forth herein, Lender has not agreed to (and
has no obligation whatsoever to discuss, negotiate or agree to) any restructuring, modification, amendment, waiver or forbearance
with respect to the Obligations or any of the terms of the Loan Documents, (b) no understanding with respect to any other restructuring,
modification, amendment, waiver or forbearance with respect to the Obligations or any of the terms of the Loan Documents shall
constitute a legally binding agreement or contract, or have any force or effect whatsoever, unless and until reduced to writing
and signed by authorized representatives of Borrower and Lender, and (c) the execution and delivery of this Agreement has not
established any course of dealing among the parties hereto or created any obligation or agreement of Lender with respect to any
future restructuring, modification, amendment, waiver or forbearance with respect to the Obligations or any of the terms of the
Loan Documents.

 

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10.      Counterparts. This Agreement
may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which, when so
executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one
and the same instrument.

 

11.      Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the successors and permitted assigns of the parties hereto.

 

12.      Choice of Law. This Agreement
shall be governed by, and construed in accordance with, the laws of the State of New York, other than its laws respecting choice
of law.

 

[SIGNATURES ON FOLLOWING PAGE]

 

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IN WITNESS WHEREOF,
Borrower and Lender have caused this Waiver and Second Amendment to Second Amended and Restated Loan and Security Agreement to
be duly executed as of the date first above written.

 

 

 

	 	FULL CIRCLE CAPITAL CORPORATION
	 	By:	     /s/ John E. Stuart                                      
	 	John E. Stuart, President and Chief Executive Officer
	 	 	 
	 	 	 
	 	FCC, LLC, d/b/a FIRST CAPITAL
	 	By:	     /s/ Lee E. Elmore                                      
	 	Lee E. Elmore, Senior Vice President

 

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