Document:

egl-ex101_6.htm

 

EXHIBIT 10.1

 

AMENDMENT No. 3, dated as of March 21, 2018 (this “Amendment”), to the Credit Agreement, dated as of August 12, 2016, as amended by Amendment No. 1, dated as of February 13, 2017, as further amended by Amendment No. 2, dated as of August 14, 2017 and as further supplemented by that certain Joinder Agreement No. 1, dated as of March 21, 2018 by and among United Bank, Holdings (as defined below), the Borrower (as defined below) and the Administrative Agent (as defined below) (as amended, restated, modified and supplemented from time to time prior to the date hereof, the “Credit Agreement”), by and among ENGILITY CORPORATION (the “Borrower”), ENGILITY HOLDINGS, INC. (“Holdings”), the Guarantors party thereto, the several banks and other financial institutions or entities from time to time party to the Credit Agreement (each a “Lender” and, collectively, the “Lenders”), MORGAN STANLEY SENIOR FUNDING, INC., as Administrative Agent (the “Administrative Agent”), Collateral Agent, Swingline Lender and Issuing Bank; capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Amended Credit Agreement (as defined below).

WHEREAS, the Borrower desires to amend the Credit Agreement on the terms set forth herein;

WHEREAS, Sections 2.24 and 10.1 of the Credit Agreement provide that the Borrower, the Administrative Agent, the relevant Loan Parties and the Required Lenders may amend the Credit Agreement and the other Loan Documents for certain purposes, including as set forth herein; 

WHEREAS, Section 2.25 of the Credit Agreement provides that the Borrower may, under certain circumstances, request New Commitments and may effect the joinder of such New Commitments under the Credit Agreement pursuant to the applicable Joinder Agreement;

WHEREAS, Morgan Stanley Senior Funding, Inc., Barclays Bank PLC, Deutsche Bank Securities Inc., JPMorgan Chase Bank, N.A., KKR Capital Markets LLC, Regions Capital Markets, a division of Regions Bank and SunTrust Robinson Humphrey, Inc. have each been appointed as a joint lead arranger (as defined below) and are acting as joint lead arrangers and joint bookrunners for this Amendment (in such capacity, each a “Joint Lead Arranger” and collectively the “Joint Lead Arrangers”);

WHEREAS, it is understood and agreed that this Amendment shall constitute a Joinder Agreement for all purposes of the Credit Agreement;

WHEREAS, (i) each Lender holding Term B1 Loans outstanding immediately prior to the Amendment No. 3 Effective Date (as defined below) (the “Existing Term B1 Loans”) (each, an “Existing Term B1 Lender”) that executes and delivers a consent to this Amendment prior to the deadline notified to the Lenders by the Joint Lead Arrangers (each, a “Consenting Term B1 Lender”) substantially in the form of Exhibit A-1 hereto (a “Term B1 Consent”) shall be deemed, upon the Amendment No. 3 Effective Date, to have consented to the amendments to the Credit Agreement set forth herein, including, without limitation, the reduction of the Applicable Margin with respect to its outstanding Existing Term B1 Loans and (x) if such Consenting Term B1 Lender elects the “Cashless Amendment” option on the Term B1 Consent, such Consenting Term B1 Lender will retain its Existing Term B1 Loans as amended by this Amendment No. 3 (or such lesser amount allocated to such Consenting Term B1 Lender by the Joint Lead Arrangers) or (y) if such Consenting Term B1 Lender elects the “Post-Closing Settlement” option on the Term B1 Consent, the entire amount of such Consenting Term B1 Lender’s Existing Term B1 Loans will be assigned to the New Term B1 Lender (as defined below) at par on the Amendment No. 3 Effective Date (as defined below) (it being understood that no Assignment and Assumption shall be required to be executed by such Consenting Term B1 Lender to effect such assignment) and following the Amendment No. 3 Effective Date such Consenting Term B1 Lender (or its designated Affiliate, if agreed 

 

 

by the Joint Lead Arrangers) shall purchase by assignment Term B1 Loans in an equal principal amount as its Existing Term B1 Loans (or such lesser amount allocated to such Consenting Term B1 Lender by the Joint Lead Arrangers), (ii) each Lender holding Existing Term B1 Loans that does not execute and deliver a Term B1 Consent prior to the deadline notified to the Lenders by the Joint Lead Arrangers (each, a “Non-Consenting Term B1 Lender”) shall be required to assign the entire amount of its Existing Term B1 Loans to Morgan Stanley Senior Funding, Inc. (in such capacity, the “New Term B1 Lender”) in accordance with Section 2.24 and Section 10.1 of the Credit Agreement (provided that the assignments to the New Term B1 Lender described in clause (ii) above shall be effected on the Amendment No. 3 Effective Date without any requirement that any Non-Consenting Term B1 Lender separately execute an Assignment and Assumption) and, in connection with the assignments described in clause (i)(y) and this clause (ii), such New Term B1 Lender shall become a Lender under the Amended Credit Agreement with respect to the Term B1 Loans so assigned, (iii) on the Amendment No. 3 Effective Date, the Borrower shall have paid to the Administrative Agent, for the ratable benefit of the existing Lenders, all accrued and unpaid interest to, but not including, the Amendment No. 3 Effective Date, with respect to the Existing Term B1 Loans and (iv) the consent of the Required Lenders to this Amendment is required pursuant to Section 2.24 of the Credit Agreement to effectuate the assignments contemplated by clause (ii) above;

WHEREAS, (i) each Lender holding Term B2 Loans outstanding immediately prior to the Amendment No. 3 Effective Date (as defined below) (the “Existing Term B2 Loans”) (each, an “Existing Term B2 Lender” and together with the Existing Term B1 Lenders, the “Existing Term Lenders”) that executes and delivers a consent to this Amendment prior to the deadline notified to the Lenders by the Joint Lead Arrangers (each, a “Consenting Term B2 Lender” and together with the Consenting Term B1 Lender, the “Consenting Term Lenders”) substantially in the form of Exhibit A-2 hereto (a “Term B2 Consent” and together with the Term B1 Consents, the “Term Consents”) shall be deemed, upon the Amendment No. 3 Effective Date, to have consented to the amendments to the Credit Agreement set forth herein, including, without limitation, the reduction of the Applicable Margin with respect to its outstanding Existing Term B2 Loans and (x) if such Consenting Term B2 Lender elects the “Cashless Amendment” option on the Term B2 Consent, such Consenting Term B2 Lender will retain its Existing Term B2 Loans as amended by this Amendment No. 3 (or such lesser amount allocated to such Consenting Term B2 Lender by the Joint Lead Arrangers) or (y) if such Consenting Term B2 Lender elects the “Post-Closing Settlement” option on the Term B2 Consent, the entire amount of such Consenting Term B2 Lender’s Existing Term B2 Loans will be assigned to the New Term B2 Lender (as defined below) at par on the Amendment No. 3 Effective Date (as defined below) (it being understood that no Assignment and Assumption shall be required to be executed by such Consenting Term B2 Lender to effect such assignment) and following the Amendment No. 3 Effective Date such Consenting Term B2 Lender (or its designated Affiliate, if agreed by the Joint Lead Arrangers) shall purchase by assignment Term B2 Loans in an equal principal amount as its Existing Term B2 Loans (or such lesser amount allocated to such Consenting Term B2 Lender by the Joint Lead Arrangers), (ii) each Lender holding Existing Term B2 Loans that does not execute and deliver a Term B2 Consent prior to the deadline notified to the Lenders by the Joint Lead Arrangers (each, a “Non-Consenting Term B2 Lender”) shall be required to assign the entire amount of its Existing Term B2 Loans to Morgan Stanley Senior Funding, Inc. (in such capacity, the “New Term B2 Lender”) in accordance with Section 2.24 and Section 10.1 of the Credit Agreement (provided that the assignments to the New Term B2 Lender described in clause (ii) above shall be effected on the Amendment No. 3 Effective Date without any requirement that any Non-Consenting Term B2 Lender separately execute an Assignment and Assumption) and, in connection with the assignments described in clause (i)(y) and this clause (ii), such New Term B2 Lender shall become a Lender under the Amended Credit Agreement with respect to the Term B2 Loans so assigned, (iii) on the Amendment No. 3 Effective Date, the Borrower shall have paid to the Administrative Agent, for the ratable benefit of the existing Lenders, all accrued and unpaid interest to, but not including, the Amendment No. 3 Effective Date, with respect to the Existing Term B2 Loans and (iv) the consent of the Required Lenders to this Amendment is 

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required pursuant to Section 2.24 of the Credit Agreement to effectuate the assignments contemplated by clause (ii) above;

WHEREAS, the Borrower desires New Commitments (the “Additional Term B2 Loan Commitments” and the Loans incurred thereunder, the “Additional Term B2 Loans”) to refinance up to $75,000,000 of the Existing Term B1 Loans;

WHEREAS, Morgan Stanley Senior Funding, Inc. has agreed to make Additional Term B2 Loans (in such capacity, the “Additional Term B2 Lender”) pursuant to Section 2.25(a) of the Credit Agreement, which upon funding shall be in the form of a fungible increase to Existing Term B2 Loans having the terms and subject to the conditions set forth herein and in the Credit Agreement; and

WHEREAS, all or a portion of the proceeds of the Additional Term B2 Loans may be applied to prepay Existing Term B1 Loans taken by assignment on the Amendment No. 3 Effective Date by the New Term B1 Lender (the “Term Loan Refinancing”) and each Consenting Term B1 Lender hereby consents to receive less than its pro rata share of any such prepayment of Existing Term B1 Loans.

NOW, THEREFORE, in consideration of the premises 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:

Section 1.Amendment of the Credit Agreement.  Effective as of the Amendment No. 3 Effective Date;

(a)the following defined terms shall be added to Section 1.1 of the Credit Agreement (as amended, the “Amended Credit Agreement”) in alphabetical order:

“Amendment No. 3”: Amendment No. 3 to this Agreement, dated as of March 21, 2018.  

“Amendment No. 3 Effective Date”: as defined in Amendment No. 3.

“Existing Term B2 Loans”: as defined in Amendment No. 3.

“New Term B1 Lender”: as defined in Amendment No. 3.

(b)the definition of “Applicable Margin” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety and replaced with the following:

	
 
	
 
	
“for any day, with respect to (i) ABR Loans (including any Swingline Loan) under (x) the Revolving Facility, 3.75% per annum, (y) the Term B2 Facility, 1.75% per annum and (z) the Term B1 Facility, 1.25% per annum and (ii) Eurocurrency Loans under (x) the Revolving Facility, 4.75% per annum, (y) the Term B2 Facility, 2.75% per annum and (z) the Term B1 Facility, 2.25% per annum.” 

(c)the definition of “Existing Credit Agreement” in Section 1.1 of the Credit Agreement is hereby amended by inserting “, as further amended by Amendment No. 2 and as further supplemented by Joinder Agreement No. 1, among the Borrower, Holdings, the Administrative Agent and the several lenders from time to time party thereto” immediately after “Amendment No. 1”.

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(d)the definition of “Loan Documents” in Section 1.1 of the Credit Agreement is hereby amended by inserting “Joinder Agreement No. 1, Amendment No. 3” immediately after “Amendment No. 2”.

(e)Section 2.3(b) of the Credit Agreement is hereby amended and restated in its entirety as follows:

“The Term B2 Loans of each Term B2 Lender shall be payable in equal consecutive quarterly installments commencing on March 31, 2018 on the last Business Day of each March, June, September and December following the Closing Date in an amount equal to one quarter of one percent (0.25%) of the product of (i) the sum of (x) the aggregate principal amount of all Existing Term B2 Loans outstanding immediately prior to the Amendment No. 3 Effective Date and (y) the aggregate principal amount of Additional Term B2 Loans on the Amendment No. 3 Effective Date and (ii) a fraction, the numerator of which is the aggregate principal amount of the Existing Term B2 Loans funded on the Amendment No. 2 Effective Date and the denominator of which is equal to the aggregate principal amount of  Existing Term B2 Loans outstanding immediately prior to the Amendment No. 3 Effective Date, after such product is rounded to the nearest full Dollar (for the avoidance of doubt, and rounding to the nearest full Dollar, such repayment amount shall be, from and after the Amendment No. 3 Effective Date, $1,653,111 on each such last Business Day of March, June, September and December) (as adjusted to reflect any prepayments thereof), with the remaining balance thereof payable on the Term B2 Maturity Date; provided, that, with respect to any Term B2 Lender which has a portion of its Term B2 Loan purchased pursuant to Section 2.11(b), the amount of each payment otherwise payable in respect thereof pursuant to this Section 2.3(b) shall be reduced by deducting therefrom an amount equal to the principal amount of the Term B2 Loan so purchased multiplied by one quarter of one percent (0.25%).”

(f)Section 2.11(d) of the Credit Agreement is hereby amended by deleting “Amendment No. 2 Effective Date” and replacing it with “Amendment No. 3 Effective Date”.

(g)Section 2.18(b) of the Credit Agreement is hereby amended by deleting “(except for prepayments pursuant to Section 2.11(b) or Section 2.24)” and replacing it with “(except (x) for prepayments pursuant to Section 2.11(b) or Section 2.24 and (y) in respect of prepayments of Term B1 Loans held by the New Term B1 Lender on the Amendment No. 3 Effective Date”.

(h)Section 2.24 of the Credit Agreement is hereby amended by inserting the following after ”Required Lenders” in clause (b)(iii)“; provided that, notwithstanding anything herein to the contrary (including in Section 10.1), any such non-consenting Lender shall automatically be deemed to have assigned its Loans pursuant to the terms of an Assignment and Assumption, and accordingly no other action by such non-consenting Lender shall be required in connection therewith” immediately before the existing proviso.

(i)the last paragraph of Section 6.2 is hereby amended by inserting “, S&P, Moody’s” immediately after “if any, to which each Lender” and immediately after “the Platform designated for”. 

(j)each Consenting Term B1 Lender hereby consents to Term Loan Refinancing and consents to receive less than its pro rata share of any such prepayment of Existing Term B1 Loans.

Section 2.Additional Term B2 Loans.

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(a)Subject to the satisfaction of the conditions set forth in Section 4 herein, each Additional Term B2 Lender severally agrees to make Additional Term B2 Loans to the Borrower on the Amendment No. 3 Effective Date in the amount of such Additional Term B2 Lender’s Additional Term B2 Loan Commitment as set forth on Schedule A hereto (and upon making such Additional Term B2 Loans, such Additional Term B2 Lender’s Additional Term B2 Loan Commitment shall be automatically and permanently reduced to $0).

(b)The Additional Term B2 Loans shall have terms identical to the Existing Term B2 Loans (as amended by the terms hereof).

(c)The Additional Term B2 Loans shall be made as a single Eurocurrency Borrowing, with an initial Interest Period that commences on the Amendment No. 3 Effective Date and ends on the last day of the Interest Period applicable to the Existing Term B2 Loans.  During such initial Interest Period, the Eurocurrency Rate applicable to the Additional Term B2 Loans shall be the same Eurocurrency Rate applicable for the Existing Term B2 Loans (as amended hereby) as of the Amendment No. 3 Effective Date.  

(d)Each Additional Term B2 Lender and each Loan Party acknowledges and agrees that upon the Amendment No. 3 Effective Date, such Additional Term B2 Lender shall be a “Lender” under, and for all purposes of, the Amended Credit Agreement and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder.

(e)All of the parties hereto agree that the Additional Term B2 Loans will upon funding, be an increase in the Existing Term B2 Loans (as amended hereby), will constitute “Term B2 Loans” for all purposes of the Amended Credit Agreement and the other Loan Documents and will, together with the Existing Term B2 Loans (as amended hereby), be treated as one class of Term B2 Loans. The parties shall treat the Additional Term B2 Loans as being fungible with the Existing Term B2 Loans for U.S. federal income tax purposes. 

(f)This Amendment No. 3 shall be deemed a Joinder Amendment for purposes of Section 2.25(a) of the Credit Agreement and the Credit Agreement shall be deemed amended to reflect the terms herein.

Section 3.Representations and Warranties, No Default.  The Borrower hereby represents and warrants that as of the Amendment No. 3 Effective Date, after giving effect to this Amendment, (i) no Default or Event of Default has occurred and is continuing, (ii) this Amendment has been duly authorized, executed and delivered by each Loan Party party hereto and constitutes the legal, valid and binding obligations of each such Loan Party enforceable against each in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law and (iii) all representations and warranties made by any Loan Party contained in the Amended Credit Agreement or in the other Loan Documents are true and correct in all material respects, in each case on and as of such date as if made on and as of the date hereof except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date, provided that, in each case, such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by materiality in the text thereof.

Section 4.Effectiveness.  This Amendment shall become effective on the date (such date, the “Amendment No. 3 Effective Date”) that the following conditions have been satisfied (it 

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being understood that the amendment set forth in Section 1(h) and (j) shall become effective immediately prior to the remaining amendments in Section 1 and Section 2):

(i)Consents.  The Administrative Agent shall have received an executed signature page to this Amendment (including in the form of a Term Consent) from (i) the New Term B1 Lender, the New Term B2 Lender, the Additional Term B2 Lender and each Consenting Term Lender, (ii) Lenders constituting the Required Lenders (as defined in the Credit Agreement) immediately prior to the Amendment No. 3 Effective Date and (iii) each Loan Party;

(ii)Incremental Facility Conditions.  After giving effect to the incurrence of the Additional Term B2 Loans and the Term Loan Refinancing, each of the conditions set forth in Section 2.25(a) of the Credit Agreement shall be satisfied;

(iii)Fees.  The Administrative Agent and the Joint Lead Arrangers shall have received the fees in the amounts previously agreed in writing by the Borrower to be received on the Amendment No. 3 Effective Date, and all reasonable and documented expenses for which invoices have been presented prior to the Amendment No. 3 Effective Date;

(iv)Legal Opinions.  The Administrative Agent shall have received favorable legal opinions of (1) Bass, Berry & Sims PLC, special counsel to the Loan Parties and (2) Mintz Levin Cohn Ferris Glovsky and Popeo PC, special New York and Massachusetts counsel to the Loan Parties, each covering such matters as the Administrative Agent may reasonably request and otherwise reasonably satisfactory to the Administrative Agent;

(v)Officer’s Certificate.  The Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower dated the Amendment No. 3 Effective Date certifying that (a) all representations and warranties made by any Loan Party contained in the Amended Credit Agreement or in the other Loan Documents are true and correct in all material respects, in each case on and as of such date as if made on and as of the Amendment No. 3 Effective Date except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date, provided that, in each case, such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by materiality in the text thereof and (b) no Default, shall have occurred and be continuing; and

(vi)Closing Certificates.  The Administrative Agent shall have received (i) a copy of the certificate or articles of incorporation or organization (or other similar organizational document), including all amendments thereto, of each Loan Party, certified, if applicable, as of a recent date by the Secretary of State of the state of its organization (or a certification from each Loan Party that there have been no changes other than changes specified in the certification to the certificate or articles of incorporation or organization, including all amendments thereto, that were delivered to the Administrative Agent on the Closing Date), (ii) a certificate as to the good standing (where relevant) of each Loan Party organized in the United States as of a recent date, from such Secretary of State or similar Governmental Authority and (iii) a certificate of a manager, director, Secretary or Assistant Secretary or similar officer of each Loan Party dated the Amendment No. 3 Effective Date and certifying that attached thereto is a true and complete copy of the by-laws or operating (or limited liability company) agreement (or other similar organizational document) of such Loan Party as in effect on the Amendment No. 3 Effective Date (or a certification from each Loan Party that there have been no changes other than changes specified in the certification to the by-laws or operating (or limited liability company) agreement that were delivered to the Administrative Agent on the Closing Date).

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(vii)The Term Loan Refinancing shall be consummated and all accrued and unpaid interest and fees shall have been paid in connection therewith.

Section 5.Consent.  Each Person delivering a Term Consent hereto agrees not to make any claims to the Borrower pursuant to Section 2.21 of the Credit Agreement with respect to any loss or expense that such Lender may sustain or incur as a consequence of any event caused by the prepayment of its Existing Term B1 Loans or Existing Term B2 Loans on the Amendment No. 3 Effective Date.  

Section 6.Counterparts.  This Amendment may be executed in any number of counterparts (including the Term Consents) 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 (including the Term Consents) by facsimile or any other electronic transmission shall be effective as delivery of a manually executed counterpart hereof.

Section 7.Applicable Law.  THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

Section 8.Waiver of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT AND FOR ANY COUNTERCLAIM THEREIN.

Section 9.Jurisdiction; Consent to Service of Process.  Each party hereto hereby submits for itself and its Property in any legal action or proceeding relating to this Amendment, or for recognition and enforcement of any judgment in respect hereof, to the exclusive general jurisdiction of the courts of the State of New York, the courts of the United States for the Southern District of New York, and appellate courts from any thereof, (ii) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same, (iii) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to it at its address set forth in Section 10.2 of the Amended Credit Agreement or at such other address of which the Administrative Agent shall have been notified pursuant thereto and (iv) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction. . 

Section 10.Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.

Section 11.Effect of Amendment.  Except as expressly set forth herein, (i) this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or the Collateral Agent, in each case under the Amended Credit Agreement or any other Loan Document, and (ii) shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Amended Credit Agreement or any other Loan Document and nothing herein shall or may be construed as a novation thereof.  Except as expressly set forth herein, each and every term, condition, obligation, covenant and agreement contained in the Amended Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect and each Loan Party reaffirms its obligations under the Loan Documents to which it is party and the grant of its Liens on 

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the Collateral made by it pursuant to the Security Documents.  From and after the Amendment No. 3 Effective Date, all references to the Credit Agreement in any Loan Document and all references in the Amended Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Amended Credit Agreement, shall, unless expressly provided otherwise, refer to the Credit Agreement as amended by this Amendment.  Each of the Loan Parties hereby consents to this Amendment and confirms that all obligations of such Loan Party under the Loan Documents to which such Loan Party is a party shall continue to apply to the Amended Credit Agreement as amended hereby and that the amendment of the Credit Agreement pursuant to this Amendment shall not constitute a novation of the Credit Agreement or any other Loan Document as in effect prior to the Amendment No. 3 Effective Date.

[SIGNATURE PAGES FOLLOW]

 

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

engility corporation

By:/s/ Wayne M. Rehberger
Name: Wayne M. Rehberger
Title: Senior Vice President and Chief Financial Officer

By:/s/ Thomas O. Miiller
Name: Thomas O. Miiller
Title: Senior Vice President, General Counsel and Corporate Secretary

engility holdings, inc.

By:/s/ Wayne M. Rehberger
Name: Wayne M. Rehberger
Title: Senior Vice President and Chief Financial Officer

By:/s/ Thomas O. Miiller
Name: Thomas O. Miiller
Title: Senior Vice President, General Counsel and Corporate Secretary

ENGILITY LLC

By:/s/ Wayne M. Rehberger
Name: Wayne M. Rehberger
Title: Senior Vice President and Chief Financial Officer

SUPPORT SERVICES ORGANIZATION, LLC

By:/s/ Thomas O. Miiller
Name: Thomas O. Miiller
Title: Senior Vice President, General Counsel and Corporate Secretary

[Engility Amendment No. 3]

TEXELTEK, LLC

By:/s/ Thomas O. Miiller
Name: Thomas O. Miiller
Title: Senior Vice President, General Counsel and Corporate Secretary

TASC SERVICES CORPORATION

By:/s/ Thomas O. Miiller
Name: Thomas O. Miiller
Title: Senior Vice President, General Counsel and Corporate Secretary

ATAC SERVICES, LLC

By:/s/ Thomas O. Miiller
Name: Thomas O. Miiller
Title: Senior Vice President and Secretary

 

[Engility Amendment No. 3]

 

morgan stanley senior funding, inc.,
as Administrative Agent and Collateral Agent

By:/s/ Jordan Ransom
Name: Jordan Ransom
Title: Authorized Signatory

 

 

morgan stanley senior funding, inc.,
as New Term B1 Lender, New Term B2 Lender and Additional Term B2 Lender

By:/s/ Jordan Ransom
Name: Jordan Ransom
Title: Authorized Signatory

 

 

[Engility Amendment No. 3]

 

EXHIBIT A-1 

Term B1 Consent

TERM B1 CONSENT (this “Term B1 Consent”) to Amendment No. 3 (the “Amendment”), by and among ENGILITY CORPORATION, ENGILITY HOLDINGS, INC., the Guarantors party thereto, MORGAN STANLEY SENIOR FUNDING, INC., as Administrative Agent and Collateral Agent and each lender party thereto (collectively, the “Lenders” and individually, a “Lender”).  Capitalized terms used in this Term B1 Consent but not defined in this Term B1 Consent have the meanings assigned to such terms in the Amendment.

 

The undersigned Existing Term B1 Lender hereby irrevocably and unconditionally approves the Amendment and consents as follows (check ONE option):

Cashless Settlement Option

	
☐
	
The undersigned Lender agrees to reprice 100% of the outstanding principal amount of such Lender’s existing Term B1 Loans (or such lesser amount allocated  to such Lender by the Administrative Agent) on a cashless basis.

Post-Closing Settlement Option

	
☐
	
The undersigned Lender agrees that the entire amount of such Lender’s existing Term B1 Loans will be assigned to the New Term B1 Lender at par on the Amendment No. 3 Effective Date (it being understood that no Assignment and Assumption shall be required to be executed by such Consenting Term B1 Lender to effect such assignment) and following the Amendment No. 3 Effective Date such Consenting Term B1 Lender shall purchase by assignment Term B1 Loans in an equal principal amount as its existing Term B1 Loans or such lesser amount allocated to such Lender by the Administrative Agent.

 

________________________________________,
(Name of Institution)

By:
Name:
Title:

If a second signature is necessary:

By:
Name:
Title:

 

[Engility Amendment No. 3]

 

EXHIBIT A-2 

Term B2 Consent

TERM B2 CONSENT (this “Term B2 Consent”) to Amendment No. 3 (the “Amendment”), by and among ENGILITY CORPORATION, ENGILITY HOLDINGS, INC., the Guarantors party thereto, MORGAN STANLEY SENIOR FUNDING, INC., as Administrative Agent and Collateral Agent and each lender party thereto (collectively, the “Lenders” and individually, a “Lender”).  Capitalized terms used in this Term B2 Consent but not defined in this Term B2 Consent have the meanings assigned to such terms in the Amendment.

 

The undersigned Existing Term B2 Lender hereby irrevocably and unconditionally approves the Amendment and consents as follows (check ONE option):

Cashless Settlement Option

	
☐
	
The undersigned Lender agrees to reprice 100% of the outstanding principal amount of such Lender’s existing Term B2 Loans (or such lesser amount allocated  to such Lender by the Administrative Agent) on a cashless basis.

Post-Closing Settlement Option

	
☐
	
The undersigned Lender agrees that the entire amount of such Lender’s existing Term B2 Loans will be assigned to the New Term B2 Lender at par on the Amendment No. 3 Effective Date (it being understood that no Assignment and Assumption shall be required to be executed by such Consenting Term B2 Lender to effect such assignment) and following the Amendment No. 3 Effective Date such Consenting Term B2 Lender shall purchase by assignment Term B2 Loans in an equal principal amount as its existing Term B2 Loans or such lesser amount allocated to such Lender by the Administrative Agent.

 

 

________________________________________,
(Name of Institution)

By:
Name:
Title:

If a second signature is necessary:

By:
Name:
Title:

 

[Engility Amendment No. 3]

 

SCHEDULE A TO AMENDMENT NO. 3

		
	
Additional Term B2 Lender
	
Additional Term B2 Loan Commitment

	
Morgan Stanley Senior Funding, Inc.
	
$75,000,000EX-10.1

 Exhibit 10.1 

THIRD AMENDMENT TO CREDIT AGREEMENT 

This THIRD AMENDMENT TO CREDIT AGREEMENT (this “Third Amendment”), dated as of March 23, 2018 and effective as of the
Effective Date (as hereinafter defined), is made and entered into by and among MGM GROWTH PROPERTIES OPERATING PARTNERSHIP LP, a Delaware limited partnership (the “Borrower”), the other Loan Parties under the Credit Agreement
referred to below, each of the Lenders (as hereinafter defined) party hereto and BANK OF AMERICA, N.A., as administrative agent under the Credit Agreement referred to below (in such capacity, the “Administrative Agent”). 

RECITALS 

A.    The Borrower, the Administrative Agent and the Lenders party hereto are parties to that certain Credit Agreement,
dated as of April 25, 2016 (as amended by that certain First Amendment to Credit Agreement, dated as of October 26, 2016, as further amended by that certain Second Amendment to Credit Agreement, dated as of May 1, 2017, and as further
amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among the Borrower, the banks, financial institutions and other entities from time to time party thereto as lenders
(including the L/C Issuer) (collectively, the “Lenders”), and the Administrative Agent. 
 B.    In
connection with the Credit Agreement, the Loan Parties executed various Loan Documents to guaranty and/or secure the obligations of the Borrower under the Credit Agreement. 

C.    The Borrower has requested that the Lenders party hereto agree to amend the Credit Agreement subject to, and in
accordance with, the terms and conditions set forth herein. 
 D.    The Lenders party hereto are willing to agree to
enter into this Third Amendment, subject to the conditions and on the terms set forth below. 
 AGREEMENT 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, each of the
other Loan Parties and each of the Lenders party hereto agree as follows: 
 1.    Definitions. Except as
otherwise expressly provided herein, capitalized terms used in this Third Amendment shall have the meanings given in the Credit Agreement, and the rules of interpretation set forth in the Credit Agreement shall apply to this Third Amendment. 

2.    Amendments to Credit Agreement. Effective as of, and subject to the occurrence of, the Effective Date: 

	 	(a)	Each of the following new definitions is hereby added to Section 1.01 of the Credit Agreement, inserted in proper alphabetical order: 

““Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title
I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code)
the assets of any such “employee benefit plan” or “plan”.” 
 ““Debt Rating” means, as of any
date of determination, each of the corporate credit rating of the Borrower determined by S&P and the corporate family rating of the Borrower determined by Moody’s; provided that if the Borrower has only one Debt Rating or the
Borrower does not have any Debt Rating, Pricing Level 2 shall apply. 
 Initially, the Applicable Rate in respect of the Term B Facility
shall be at Pricing Level 2. Thereafter, each change in the Applicable Rate in respect of the Term B Facility resulting from a publicly announced change in the Debt Rating shall be effective, in the case of an upgrade or a downgrade, during the
period commencing on the date of the public announcement thereof and ending on the date immediately preceding the effective date of the next such change. In no event shall the Administrative Agent be responsible for, or have any liability for,
monitoring the Debt Rating.” 
 ““PTE” means a prohibited transaction class exemption issued by the U.S.
Department of Labor, as any such exemption may be amended from time to time.” 
 ““Third Amendment Effective Date”
shall mean the “Effective Date” as defined in that certain Third Amendment to Credit Agreement, dated as of March 23, 2018, among the Borrower, the other Loan Parties, the Administrative Agent and the Lenders party thereto.” 

 

	 	(b)	The definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended by amending and restating clause (b) thereof as follows (for the avoidance of doubt, without affecting
the paragraph following such clause (b)): 

 “and (b) in respect of the Term B Facility, the following percentages
per annum, based on the Debt Rating as set forth below: 

  
 2 

											
	 Applicable Rate
	 
	 Pricing

Level  
	  	 Debt Ratings

S&P and Moody’s
	  	Eurodollar Rate	 	 	Base Rate	 
	1	  	 Either (a) Ba2 or better from Moody’s and BB- or better from S&P or

(b) BB or better from S&P and Ba3 or better from Moody’s
	  	 	1.75	% 	 	 	0.75	% 
				
	2	  	For any reason Pricing Level 1 does not apply	  	 	2.00	% 	 	 	1.00	% 

  

	 	(c)	The definition of “Available Excluded Contribution Amount” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

““Available Excluded Contribution Amount” means, as of any date of determination, the sum, without duplication, of
(a) the net cash proceeds of any sale or issuance by the Borrower of its Qualified Equity Interests after the Closing Date plus (b) the net cash proceeds or fair market value of assets (including cash and Cash Equivalents) (as reasonably
determined by the Borrower) contributed to the Borrower as a capital contribution after the Closing Date, in each case (i) excluding the proceeds of the Initial Public Offering and the OP Units Issuance and (ii) excluding any Permitted
Warrant Transaction. The Available Excluded Contribution Amount will be decreased by any amounts thereof (i) used to make Investments pursuant to Section 8.06(l), (ii) used to prepay, redeem, purchase, defease or satisfy Indebtedness
pursuant to Section 8.05(d) and (iii) used to make Restricted Payments pursuant to Section 8.07(f), in each case, effective immediately upon any such use.” 
  

	 	(d)	The definition of “Available Excluded Contribution Amount Period” in Section 1.01 of the Credit Agreement is hereby deleted in its entirety. 

 

	 	(e)	The definition of “Credit Agreement Refinancing Indebtedness” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

““Credit Agreement Refinancing Indebtedness” means other Indebtedness incurred pursuant to a Refinancing Amendment
(including, without limitation, Other Term Loans), in each case, issued, incurred or otherwise obtained (including by means of the extension or renewal of Existing Indebtedness) in exchange for, or to extend, renew, replace or refinance, in whole or
part, then 

  
 3 

 
existing Term Loans or Revolving Commitments, or any then existing Credit Agreement Refinancing Indebtedness (“Refinanced Debt”); provided that (i) such Indebtedness has an equal
or later maturity and a Weighted Average Life to Maturity equal to or greater than the Refinanced Debt, (ii) such Indebtedness shall not have a greater principal amount than the principal amount of the Refinanced Debt plus accrued interest,
fees and premiums (if any) thereon and reasonable fees and expenses associated with the refinancing, (iii) such Refinanced Debt shall be repaid, defeased or satisfied and discharged on a dollar-for-dollar basis, and all accrued interest, fees and premiums (if any) in connection therewith shall be paid, on the date such Credit Agreement Refinancing Indebtedness is issued, incurred or obtained,
(iv) the aggregate unused revolving commitments under such Credit Agreement Refinancing Indebtedness shall not exceed the unused Revolving Commitments being replaced, (v) such Credit Agreement Refinancing Indebtedness consisting of Term
Loans may participate on a pro rata basis or a less than pro rata basis (but not greater than a pro rata basis) in any optional or mandatory prepayments or prepayment of Term Loans hereunder in each case as specified in the respective Refinancing
Amendment and (vi) all other terms and conditions of any such Credit Agreement Refinancing Indebtedness shall be as agreed between the Borrower and the lenders providing any such Credit Agreement Refinancing Indebtedness.” 

 

	 	(f)	The definition of “Drop-Down Transaction” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

““Drop-Down Transaction” means an acquisition of Property by the Borrower or any Restricted Subsidiary from any Person in
one or a series of related transactions.” 
  

	 	(g)	The definition of “Permitted Encumbrances” in Section 1.01 of the Credit Agreement is hereby amended by amending and restating clause (gg) thereof as follows: 

“(gg) Liens in favor of the Borrower or any Guarantor; provided that any such Lien on any property which then comprises Collateral shall
be junior in priority to the Liens securing the Obligations.” 
  

	 	(h)	Section 2.04(a) of the Credit Agreement is hereby amended by amending and restating the penultimate sentence thereof as follows: 

“Notwithstanding anything to the contrary contained herein, any prepayment of the Term B Facility made after the Third Amendment Effective
Date but on or prior to the six (6) month anniversary of the Third Amendment Effective Date in connection with a Repricing Event shall be accompanied by the payment of the fee described in Section 2.08(c).” 

  
 4 

	 	(i)	Section 2.04(b)(iv) of the Credit Agreement is hereby amended by amending and restating the last sentence thereof as follows: 

“Any prepayment of the Term B Facility after the Third Amendment Effective Date and on or prior to the six (6) month anniversary of
the Third Amendment Effective Date pursuant to Section 2.04(b)(ii) in connection with a Repricing Event described in clause (i) of the definition thereof shall be accompanied by the payment of the
fee described in Section 2.08(c).” 
  

	 	(j)	Section 2.08(c) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(c)    Repricing Fee. If a Repricing Event is consummated after the Third Amendment Effective Date and on or
prior to the six (6) month anniversary of the Third Amendment Effective Date, the Borrower agrees to pay to the Administrative Agent, for the ratable account of (i) each Term B Lender with Term B Loans that are repaid and (ii) each
Term B Lender that withholds its consent to such Repricing Event and is replaced or terminated as a Term B Lender under Section 11.13, a fee in an amount equal to 1.00% of (x) in the case of a Repricing Event described
in clause (i) of the definition thereof, the aggregate principal amount of all Term B Loans of such Term B Lender that are prepaid in connection with such Repricing Event and (y) in the case of a Repricing Event
described in clause (ii) of the definition thereof, the aggregate principal amount of all Term B Loans of such Term B Lender that are so assigned or terminated and repaid under Section 11.13. Such
fees shall be earned, due and payable upon the date of the effectiveness of such Repricing Event.” 
  

	 	(k)	The proviso at the end of the first sentence of Section 6.08 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“provided that, notwithstanding anything in this Agreement to the contrary, (i) any Immaterial Subsidiary that is a guarantor
of any Material Indebtedness of the Borrower or the Restricted Subsidiaries shall be required to be a Guarantor until such time as its guaranty of such Material Indebtedness is released (at which time it shall be released by the Administrative Agent
from the Guaranty on the request of the Borrower without further action by the Creditor Parties) and (ii) any Restricted Subsidiary acquired after the Closing Date that is prohibited by any agreement, instrument or other undertaking to which
such Restricted Subsidiary is a party, or by which it or any of its property or assets is bound, from guaranteeing the Obligations shall not be required to be a Guarantor for so long as such prohibition exists (provided that any such
agreement, instrument or other undertaking existed at the time of such acquisition or investment and was not entered into in connection with or in anticipation of such acquisition or investment).” 

  
 5 

	 	(l)	Clause (ii) of the proviso to the first paragraph of Section 11.13 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(ii)    such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and L/C
Advances of the applicable Class(es), accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents with respect to such Class(es) (including any amounts under Section 3.05 and, in the
case of a Repricing Event described in clause (ii) of the definition thereof after the Third Amendment Effective Date and on or prior to the six (6) month anniversary of the Third Amendment Effective Date, the fee described in
Section 2.08(c)) from (x) in the case of an assignment, the assignee (to the extent of such outstanding principal and accrued interest and fees (other than fees payable due to the occurrence of a Repricing Event)) or the Borrower (in the
case of all other amounts (including fees payable due to the occurrence of a Repricing Event)) and (y) in the case of a termination and repayment, the Borrower;” 
  

	 	(m)	The following is hereby added as Section 10.12 of the Credit Agreement: 

“10.12    ERISA Matters. 

(a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, and (y) covenants, from the
date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the
benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 
 (i) such Lender is not using
“plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the
Commitments, 
 (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a
class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts),
PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions
involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect
to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, 

  
 6 

 (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset
Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and
perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the
requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection
(a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and
this Agreement, or 
 (iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in
its sole discretion, and such Lender. 
 (b) In addition, unless sub-clause (i) in the
immediately preceding clause (a) is true with respect to a Lender or such Lender has provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding
clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender
party hereto, for the benefit of, the Administrative Agent, the Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that: 

(i) none of the Administrative Agent, the Arrangers or any of their respective Affiliates is a fiduciary with respect to the assets of such
Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto), 

(ii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of
and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance carrier, an investment
adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E), 

(iii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration
of and performance of the Loans, the Letters of Credit, the Commitments and this 

  
 7 

 
Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including in respect of the Obligations),

 (iv) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Letters of Credit, the Commitments and this Agreement and is
responsible for exercising independent judgment in evaluating the transactions hereunder, and 
 (v) no fee or other compensation is being
paid directly to the Administrative Agent, the Arrangers or any their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Letters of Credit, the Commitments or this Agreement. 

(c) The Administrative Agent and the Arrangers hereby informs the Lenders that each such Person is not undertaking to provide impartial
investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof
(i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans, the Letters of Credit or the Commitments for an amount
less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or
otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of
credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees similar to the foregoing.” 

3.    Amendments to Exhibit C. Exhibit C of the Credit Agreement is hereby amended by deleting paragraph 5 thereof.

 4.    Representations and Warranties. To induce the Lenders party hereto to agree to this Third Amendment, the
Borrower and each of the other Loan Parties represent to the Lenders and the Administrative Agent that as of the date hereof and as of the Effective Date: 

(a)    the Borrower and each of the other Loan Parties have all requisite power and authority to enter into, execute and
deliver this Third Amendment and to carry out the transactions contemplated by, and to perform its obligations under or in respect of, this Third Amendment; 

  
 8 

 (b)    the execution and delivery of this Third Amendment and the performance
of the obligations of the Borrower and each of the other Loan Parties under or in respect of this Third Amendment have been duly authorized by all necessary corporate or other organizational action on the part of the Borrower and each of the other
Loan Parties; 
 (c)    the execution and delivery of this Third Amendment and the performance of the obligations of
such Loan Party under or in respect of this Third Amendment do not and will not (i) require any consent or approval not heretofore obtained of any member, partner, director, stockholder, security holder or creditor of such Loan Party;
(ii) violate or conflict with any provision of such party’s charter, articles of incorporation, operating agreement, partnership agreement or bylaws, as applicable; (iii) violate or conflict with any provision of the indentures
governing the public Indebtedness of the Borrower and the Restricted Subsidiaries, except to the extent that such violation or conflict could not reasonably be expected to have a Material Adverse Effect; (iv) result in or require the creation
or imposition of any Lien upon or with respect to any Property of the Borrower, and the Restricted Subsidiaries, other than Liens permitted by Section 8.03 of the Credit Agreement; or violate any Requirement of Law
applicable to such Party, except to the extent that such violation could not reasonably be expected to have a Material Adverse Effect; 

(d)    this Third Amendment has been duly and validly executed and delivered by the Borrower and each of the other Loan
Parties and constitutes a legal, valid and binding obligation of the Borrower and each of the other Loan Parties, enforceable against the Borrower and each of the other Loan Parties in accordance with its terms, except as enforcement may be limited
by Debtor Relief Laws, Gaming Laws or equitable principles relating to the granting of specific performance and other equitable remedies as a matter of judicial discretion; and 

(e)     each of the representations and warranties made by such Loan Party in or pursuant to Article V of the Credit
Agreement, as amended hereby, is true and correct in all material respects on and as of the Effective Date as if made on and as of such date; provided, that, to the extent that such representations or warranties specifically refer to an earlier
date, they shall be true and correct in all material respects as of such earlier date; provided, further, that, any representation or warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language
shall be true and correct in all respects on such respective dates. 
 5.    Effectiveness of this Third
Amendment. This Third Amendment and the amendments to the Credit Agreement set forth in Section 2 hereof shall be effective only if and when: 

(a)     the Borrower, the other Loan Parties, and each Lender who has consented hereto have delivered their fully executed
signature pages hereto to the Administrative Agent; 
 (b)     each of the representations and warranties contained in
Section 4 of this Third Amendment shall be true and correct in all material respects; 

  
 9 

 (c)    after giving effect to this Third Amendment, no event has occurred and
is continuing or will result from the execution and delivery of this Third Amendment or the performance by the Borrower and the other Loan Parties of their obligations hereunder that would constitute a Default or an Event of Default; 

(d)    the Administrative Agent shall have received: 

(i) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each Loan
Party as the Administrative Agent may require evidencing the identity, authority and capacity of each such Responsible Officer authorized to act on behalf of each Loan Party in connection with this Third Amendment and the other Loan Documents; 

(ii) such documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized
or formed, validly existing, in good standing and qualified to engage in business in its jurisdiction of organization; 
 (iii) a favorable
opinion of Milbank, Tweed, Hadley & McCloy LLP, counsel to the Loan Parties addressed to the Administrative Agent and each Lender, reasonably satisfactory to the Administrative Agent; and 

(iv) a certificate signed by a Responsible Officer certifying that the conditions specified in Sections 5(b) and 5(c) of this Third Amendment
have been satisfied; 
 (e)    at such time that this Third Amendment becomes effective, all Term B Loans are held by
Term B Lenders who have consented to this Third Amendment with respect to their entire respective Term B Loans at such time; 

(f)    unless waived by the Administrative Agent, the Borrower shall have paid all Attorney Costs of counsel to the
Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent invoiced at least three Business Days prior to the Effective Date; and 

(g)    the Borrower shall have paid to the Administrative Agent, for the account of each Lender holding Term B Loans under
the Credit Agreement that has delivered its executed signature page consenting to this Third Amendment prior to 12:00 noon, New York City time, on March 16, 2018, as consideration for the reduction of the Applicable Rate for the Term B Loans, a Term
B Loan repricing fee equal to 0.25% of the amount of such Lender’s Term B Loans on the Effective Date (after giving effect to any assignments made pursuant to Section 11.13 of the Credit Agreement). 

This Third Amendment and the amendments to the Credit Agreement set forth in Section 2 hereof shall be effective on the date (the “Effective
Date”) on which all of the foregoing conditions are satisfied. 

  
 10 

 6.    Extension of Term B Loans. Effective as of, and subject to the
occurrence of, the Real Estate Effective Date (as defined below), the definition of “Maturity Date” in Section 1.01 of the Credit Agreement is hereby amended by amending and restating clause (a)(ii) thereof as follows: 

“(ii) with respect to the Term B Facility, the seventh (7th) anniversary of the Third
Amendment Effective Date or if the maturity is extended pursuant to Section 2.15, such extended maturity date as determined pursuant to such Section” 

7.    Real Estate Effective Date. The amendments to the Credit Agreement set forth in Section 6 hereof shall
be effective only if and when: 
 (a)    the Effective Date shall have occurred; 

(b)    the Borrower shall have paid all fees and expenses owed to the Administrative Agent and the BofA Arranger (as
defined below) accrued through and including the Real Estate Effective Date to the Administrative Agent and the BofA Arranger; 

(c)    the Administrative Agent shall have received (i) an amendment to each of the Mortgages for Mortgaged Real
Property located in the State of Mississippi that, among other things, provides notice of the extension of the Maturity Date with respect to the Term B Facility pursuant to this Third Amendment, (ii) endorsements to the title insurance policies
relating to such Mortgages in form and substance reasonably acceptable to the Administrative Agent and (iii) opinions of Mississippi and Delaware counsel as reasonably requested by the Administrative Agent; 

(d)    the Administrative Agent shall have received, for each Mortgaged Real Property, (i) a completed “Life-of-Loan” Federal Emergency Management Agency standard flood hazard determination (together with a notice about special flood hazard area status and flood
disaster assistance duly executed by Borrower and the applicable Loan Party relating thereto) dated as of a recent date and (ii) if any portion of any such Mortgaged Real Property is located in an area identified by the Federal Emergency
Management Agency (or any successor agency) as a special flood hazard area with respect to which flood insurance has been made available under the National Flood Insurance Act of 1968, evidence in form and substance reasonably acceptable to the
Administrative Agent that the applicable Loan Party shall have obtained, with a financially sound and reputable insurer (determined at the time such insurance was obtained), flood insurance in an amount and otherwise sufficient to comply with all
applicable rules and regulations promulgated pursuant to such Flood Insurance Laws; and 
 (e)    Borrower shall have
received any regulatory approvals required by the State of New Jersey in connection with the extension of the Term B Loans. 
 The amendments to the Credit
Agreement set forth in Section 6 hereof shall be effective on the date (the “Real Estate Effective Date”) on which all of the foregoing conditions are satisfied. 

  
 11 

 
The Administrative Agent shall deliver written notice of the occurrence of the Real Estate Effective Date to the Lenders and the Borrower promptly upon the occurrence thereof. 

8.    Acknowledgments; Reaffirmation. By executing this Third Amendment, each of the Loan Parties (a) consents
to this Third Amendment and the performance by the Borrower and each of the other Loan Parties of their obligations hereunder, (b) acknowledges that notwithstanding the execution and delivery of this Third Amendment, the obligations (as amended
and extended hereby) of each of the Loan Parties under the Guaranty, the Pledge Agreement, the Security Agreement and each of the other Loan Documents to which such Loan Party is a party are not impaired or affected and the Guaranty, the Pledge
Agreement, the Security Agreement and each such Loan Document continues in full force and effect as amended hereby and (c) affirms and ratifies, to the extent it is a party thereto, the Guaranty, the Pledge Agreement, the Security Agreement and
each other Loan Document with respect to all of the Obligations as amended and extended hereby. 

9.    Miscellaneous. 

(a)    THIS THIRD AMENDMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN ANY LOAN DOCUMENT WHICH EXPRESSLY STATES THAT IT SHALL
BE GOVERNED BY THE LAW OF ANOTHER JURISDICTION) AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS THIRD AMENDMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS
TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL EACH BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b)    This Third Amendment may be executed in one or more duplicate counterparts and, subject to the other terms and
conditions of this Third Amendment, when signed by all of the parties listed below shall constitute a single binding agreement. Delivery of an executed signature page to this Third Amendment by facsimile transmission or electronic mail shall be as
effective as delivery of a manually signed counterpart of this Third Amendment. 
 (c)    The Borrower has appointed
each of Merrill Lynch, Pierce, Fenner & Smith Incorporated (or any other registered broker-dealer wholly-owned by Bank of America Corporation to which all or substantially all of Bank of America Corporation’s or any of its
subsidiaries’ investment banking, commercial lending services or related businesses may be transferred following the date of this Third Amendment, collectively with Bank of America, N.A., the “BofA Arranger”), Barclays Bank
PLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole Corporate and Investment Bank, Deutsche Bank Securities Inc., Fifth Third Bank, JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., Sumitomo Mitsui Banking
Corporation and SunTrust Robinson Humphrey, Inc. to act as joint lead arrangers and joint bookrunners for this Third Amendment (in such capacity, the “Third Amendment Arrangers”), JPMorgan Chase Bank, N.A. to act as syndication
agent for this Third 

  
 12 

 
Amendment (in such capacity, the “Third Amendment Syndication Agent”), and each of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Bank PLC, BNP Paribas
Securities Corp., Citigroup Global Markets Inc., Citizens Bank, N.A., Credit Agricole Corporate and Investment Bank, Deutsche Bank Securities Inc., Fifth Third Bank, Morgan Stanley Senior Funding, Inc., Sumitomo Mitsui Banking Corporation, SunTrust
Bank and The Bank of Nova Scotia to act as co-documentation agents for this Third Amendment (in such capacity, the “Third Amendment Co-Documentation
Agents”). Each Third Amendment Arranger, the Third Amendment Syndication Agent and each Third Amendment Co-Documentation Agent shall in such capacity, as applicable, be entitled to all of the rights,
protections and immunities of an “Arranger” under the Credit Agreement; provided, that in no event will the Third Amendment Arrangers, the Third Amendment Syndication Agent and the Third Amendment
Co-Documentation Agents (other than the BofA Arranger) be entitled to any fees and expenses, and in no event will the Borrower be obligated to pay any fees and expenses to any of the Third Amendment Arrangers,
the Third Amendment Syndication Agent and the Third Amendment Co-Documentation Agents (other than the BofA Arranger), in connection with their roles as Third Amendment Arrangers, Third Amendment Syndication
Agent and Third Amendment Co-Documentation Agents, as applicable. 

(d)    Except as amended hereby, all of the provisions of the Credit Agreement and the other Loan Documents shall remain
in full force and effect except that each reference to the “Credit Agreement”, or words of like import in any Loan Document, shall mean and be a reference to the Credit Agreement as amended hereby. This Third Amendment shall be deemed a
“Loan Document” as defined in the Credit Agreement. Sections 11.14(b), 11.14(c), 11.14(d) and 11.15 of the Credit Agreement shall apply to this Third Amendment as if expressly set forth herein. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 13 

 IN WITNESS WHEREOF, the parties have caused this Third Amendment to be duly executed as of the
day and year first above written, to be effective as of the Effective Date. 
  

			
	Borrower:
	
	MGM GROWTH PROPERTIES LIMITED PARTNERSHIP LP
		
	By:	 	 /s/ Andy H. Chien

	Name:	 	 Andy H. Chien

	Title:	 	Chief Financial Officer and Treasurer
	
	Other Loan Parties:
	
	MGP LESSOR, LLC
	MGP LESSOR HOLDINGS, LLC
	MGP ESCROW CO-ISSUER, INC.
		
	By:	 	 /s/ Andy H. Chien

	Name:	 	 Andy H. Chien

	Title:	 	Chief Financial Officer and Treasurer

  
 [Signature Page to Third
Amendment] 

 
			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Paley Chen

	Name:	 	 Paley Chen

	Title:	 	 Vice President

	
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ Brian D. Corum

	Name:	 	 Brian D. Corum

	Title:	 	 Managing Director

  
 [Signature Page to Third
Amendment] 

 The undersigned Term B Lender hereby irrevocably and unconditionally consents to this Third Amendment and directs
the Administrative Agent to execute the Third Amendment. 
  

	 	☐	Consent and Continue to Hold. In addition to the above provisions, the undersigned hereby agrees to reprice and extend all of its existing Term B Loans. 

 

	 	☐	Consent and Reallocation. In addition to the above provisions, the undersigned hereby agrees to receive full repayment of its existing Term B Loans. Affiliates designated by the undersigned
will receive Term B Loans in a principal amount equal to the amount of the existing Term B Loans of the undersigned repaid (or such lesser amount equal to the amount of Term B Loans allocated to such Term B Lender by the Administrative Agent).

  

			
	                                    
    ,
	as a Term B Lender
		
	By:	 	
                     
                    

		 	Name:
		 	Title:
	
	If two signatures required:
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  
 [Signature Page to Third
Amendment] 

 The undersigned Term A Lender hereby irrevocably and unconditionally consents to this Third Amendment and directs
the Administrative Agent to execute the Third Amendment: 
  

			
	                                    
    ,
	as a Term A Lender
		
	By:	 	
                     
                    

		 	Name:
		 	Title:
	
	If two signatures required:
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  
 [Signature Page to Third
Amendment] 

 The undersigned Revolving Lender hereby irrevocably and unconditionally consents to this Third Amendment and
directs the Administrative Agent to execute the Third Amendment: 
  

			
	                                    
    ,
	as a Revolving Lender
		
	By:	 	
                     
                    

		 	Name:
		 	Title:
	
	If two signatures required:
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  
 [Signature Page to Third
Amendment]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]