Document:

Exhibit

EXECUTION VERSION

INCREMENTAL REVOLVING CREDIT ASSUMPTION AGREEMENT dated as of April 10, 2018 (this “Agreement”), relating to the CREDIT AGREEMENT dated as of January 31, 2017 (as amended by that certain Incremental Assumption Agreement and Amendment No. 1 dated as of August 17, 2017 and by that certain Incremental Assumption Agreement and Amendment No. 2 dated as of February 28, 2018 (“Amendment No. 2”), and as further amended, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), among TEREX CORPORATION, a Delaware corporation (“Terex”), NEW TEREX HOLDINGS UK LIMITED, with company number 02962659, a limited company organized under the laws of England, TEREX INTERNATIONAL FINANCIAL SERVICES COMPANY UNLIMITED COMPANY, with company number 327184, a company organized under the laws of Ireland, and TEREX AUSTRALIA PTY LTD (ACN 010 671 048), a company organized under the laws of Australia and registered in Queensland, Australia, the Lenders (as defined in Article I of the Credit Agreement), the Issuing Banks (as defined in Article I of the Credit Agreement) and CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as administrative agent (in such capacity, the “Administrative Agent”) and as collateral agent (in such capacity, the “Collateral Agent”) for the Lenders.
A.Pursuant to Section 2.27 of the Credit Agreement, Terex has requested that the persons set forth on Schedule I hereto (the “Incremental Revolving Credit Lenders”) provide Revolving Credit Commitments under the Credit Agreement (the “Incremental Revolving Credit Commitments”) to the Borrowers in an aggregate amount equal to $150,000,000, consisting of U.S. Revolving Credit Commitments in an aggregate amount equal to $75,000,000 and Multicurrency Revolving Credit Commitments in an aggregate amount equal to $75,000,000.
B.    The Incremental Revolving Credit Lenders are willing to provide the Borrowers with the Incremental Revolving Credit Commitments on the terms and subject to the conditions set forth herein and in the Credit Agreement.
C.    Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1.      Defined Terms.  Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Credit Agreement.  The rules of interpretation set forth in Section 1.02 of the Credit Agreement are hereby incorporated by reference herein, mutatis mutandis.  This Agreement shall be an “Incremental Assumption Agreement” for all purposes of the Credit Agreement and the other Loan Documents.

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SECTION 2.  Incremental Revolving Credit Commitments.  (a) Schedule I hereto sets forth the Incremental Revolving Credit Commitment of each Incremental Revolving Credit Lender as of the Incremental Effective Date (as defined below).  The Incremental Revolving Credit Commitments of each Incremental Revolving Credit Lender shall be several and not joint.  
(b)  The Incremental Revolving Credit Commitments and the Revolving Loans and other extensions of credit made thereunder shall have the terms applicable to the Revolving Credit Commitments and the Revolving Loans of the applicable Class and other extensions of credit made thereunder, respectively.  With effect from the Incremental Effective Date, (i) the Incremental Revolving Credit Commitments shall constitute “Revolving Credit Commitments” and “Multicurrency Revolving Credit Commitments” or “U.S. Revolving Credit Commitments”, as applicable, and the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and (ii) the Incremental Revolving Credit Lenders shall constitute “Lenders”, in each case for all purposes of the Credit Agreement and the other Loan Documents.
SECTION 3.  Representations and Warranties.  To induce the other parties hereto to enter into this Agreement, each Loan Party party hereto hereby represents and warrants to the Administrative Agent and each of the Incremental Revolving Credit Lenders that:
(a)  This Agreement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against each of the Loan Parties party hereto in accordance with its terms except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).
(b)  At the time of and immediately after giving effect to this Agreement, the representations and warranties set forth in Article III of the Credit Agreement are true and correct in all material respects (or, in the case of any representations and warranties qualified by materiality, Material Adverse Effect or words of similar import, in all respects) on and as of the date hereof with the same effect as though made on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case they were true and correct in all material respects (or, in the case of any representations and warranties qualified by materiality, Material Adverse Effect or words of similar import, in all respects) as of such earlier date.
(c)  Each Borrower and each other Loan Party is in compliance in all material respects with all the terms and provisions set forth in each Loan Document on its part to be observed or performed, and at the time of and immediately after giving effect to this Agreement, no Event of Default or Default has occurred and is continuing.

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SECTION 4.  Conditions to Effectiveness.  The effectiveness of this Agreement and the obligations of the Incremental Revolving Credit Lenders to provide the Incremental Revolving Credit Commitments are subject to the satisfaction or waiver of the following conditions precedent (the date on which all such conditions are satisfied or waived, the “Incremental Effective Date”):
(a)  the Administrative Agent shall have received counterparts of this Agreement that, when taken together, bear the signatures of (i) the Loan Parties, (ii) the Administrative Agent and the Collateral Agent and (iii) the Incremental Revolving Credit Lenders;
(b)  the representations and warranties set forth in Section 3 shall be true and correct, and the Administrative Agent shall have received a certificate to that effect, dated the Incremental Effective Date and signed by the President, a Vice President or a Financial Officer of Terex;
(c)  Terex shall have paid (i) to each Incremental Revolving Credit Lender, an upfront fee in an aggregate amount equal to 0.50% of the aggregate principal amount of the Incremental Revolving Credit Commitment of such Incremental Revolving Credit Lender and (ii) to the Administrative Agent and the Incremental Revolving Credit Lenders, all other amounts due and payable by it on or prior to the Incremental Effective Date and, to the extent invoiced, reimbursement or payment of all reasonable and documented out-of-pocket expenses required to be reimbursed or paid by any Loan Party under any Loan Document; 
(d)  the Administrative Agent shall have received (i) a certificate as to the good standing of each Loan Party as of a recent date, from the Secretary of State (or comparable entity) of the state (or comparable jurisdiction) of its organization (or, if such jurisdiction does not issue such certificates, a comparable document or the results of searches of official registries demonstrating good standing or lack of insolvency proceedings against such Loan Party, as available); (ii) a certificate of the Secretary, Assistant Secretary or Director, as applicable, of such Loan Party dated the Incremental Effective Date and certifying (A) that attached thereto is a true and complete copy of (1) the by-laws (or comparable organizational documents) and (2) the certificate or articles of incorporation (or comparable organizational documents), including all amendments thereto, certified as of a recent date by such Secretary of State (or comparable entity) (or, if no such certification is available, comparable certification or an extract of such documents filed with any official registry, as available), in each case of such Loan Party as in effect on the Incremental Effective Date and at all times since a date prior to the date of the resolutions described in clause (B) below (or, if such by-laws (or comparable documents) or certificate or articles of incorporation (or comparable documents) have not been amended or modified since any delivery thereof to the Administrative Agent on or following the Closing Date, certifying that no such amendment or modification has occurred), (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of Directors (or comparable governing body) of such Loan Party 

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authorizing the execution, delivery and performance of this Agreement, and that such resolutions have not been modified, rescinded or amended and are in full force and effect, and (C) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of such Loan Party; and (iii) a certificate of another officer as to the incumbency and specimen signature of the Secretary, Assistant Secretary or Director, as applicable, executing the certificate pursuant to clause (ii) above;
(e)  on the Incremental Effective Date, immediately after giving effect to the Incremental Revolving Credit Commitments (and assuming for this purpose only that the same were fully drawn in the form of Revolving Loans on such date, but without netting the cash proceeds thereof for purposes of determining Total Debt on such date), the Senior Secured Leverage Ratio on such date would be less than or equal to 2.75 to 1.00, and the Administrative Agent shall have received a certificate to that effect (containing reasonably detailed calculations thereof) dated as of the Incremental Effective Date and executed by a Financial Officer of Terex;
(f)  the Administrative Agent shall have received, on behalf of itself and the Lenders, executed legal opinions of (i) Bryan Cave Leighton Paisner LLP, special New York counsel to the Loan Parties, (ii) the General Counsel of Terex and (iii) local counsel for each of the U.K. Borrower and the European Borrower, in each case (A) dated the Incremental Effective Date, (B) addressed to the Administrative Agent and the Incremental Revolving Credit Lenders and (C) covering such matters as the Administrative Agent shall reasonably request, and Terex hereby requests such counsel to deliver such opinions; and
(g)  the Administrative Agent shall have received all documentation and other information reasonably requested by it that is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act.
The Administrative Agent shall notify Terex and the Incremental Revolving Credit Lenders of the Incremental Effective Date, and such notice shall be conclusive and binding.
SECTION 5.  Real Estate Collateral.  Terex shall, and shall cause Terex USA, LLC to, deliver to the Collateral Agent as soon as practicable and in any event within 60 calendar days after the Incremental Effective Date (or such later date as shall be acceptable to the Collateral Agent in its sole discretion), (a) an amendment to the Mortgage encumbering the Mortgaged Property which shall provide that such Mortgage remains in full force and effect and continues to secure the Obligations and (b) if available in the applicable jurisdiction, a date down endorsement to the mortgagee’s title policy issued to the Administrative Agent in connection with the Mortgage in respect of the Mortgaged Property, in each case in form and substance satisfactory to the Administrative Agent.  The Collateral Agent hereby agrees that the time period specified in Section 6 of Amendment No. 2 shall be extended to correspond with the time period specified in this Section 5.

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SECTION 6.  Consent and Reaffirmation. Each Borrower and each other Loan Party hereby (a) consents to this Agreement and the transactions contemplated hereby, (b) agrees that, notwithstanding the effectiveness of this Agreement, the Guarantee and Collateral Agreement and each of the other Security Documents to which it is a party continue to be in full force and effect, (c) affirms and confirms its guarantee (in the case of a Guarantor) of the Obligations and the pledge and/or grant of a security interest in its assets as Collateral pursuant to the Security Documents to secure the Obligations, all as provided in the Loan Documents, and (d) acknowledges and agrees that such guarantee, pledge and/or grant continues in full force and effect in respect of, and to secure, the Obligations under the Credit Agreement and the other Loan Documents, including the Incremental Revolving Credit Commitments and the extensions of credit thereunder.  Without limiting the foregoing, nothing herein contained shall be construed as a novation of any of the Loan Documents or a substitution or novation of the Obligations or instruments guaranteeing or securing the same, which Loan Documents, Obligations and instruments shall remain and continue in full force and effect.
SECTION 7.  Applicable Law.  THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
SECTION 8.  Counterparts.  This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract.  Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually signed counterpart of this Agreement.
SECTION 9.  Notices.  All notices hereunder or in connection herewith shall be given in accordance with the provisions of Section 9.01 of the Credit Agreement.
SECTION 10.  Headings.  Section headings used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement.
SECTION 11.  Lead Arranger.  Terex hereby appoints Credit Suisse Securities (USA) LLC (“CS Securities”) and each other Incremental Revolving Credit Lender to act as joint lead arrangers and joint bookrunners of the Incremental Revolving Credit Commitments, and the Loan Parties agree that the indemnification and other exculpatory provisions of the Credit Agreement that apply for the benefit of the Joint Bookrunners shall apply equally for the benefit of CS Securities and each other Incremental Revolving Credit Lender, in their capacities as joint lead arrangers and joint bookrunners, and their respective Affiliates and their respective directors, officers, employees, agents, trustees, members, partners and advisors.
[Remainder of this page intentionally left blank]

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

	
		
	TEREX CORPORATION,

	by

	 
	/s/ Eric I Cohen

	 
	Name: Eric I Cohen

	 
	Title:  Senior Vice President

	
		
	NEW TEREX HOLDINGS UK LIMITED,

	by

	 
	/s/ Eric I Cohen

	 
	Name: Eric I Cohen

	 
	Title:   Director

	
		
	TEREX INTERNATIONAL FINANCIAL SERVICES COMPANY UNLIMITED COMPANY,

	by

	 
	/s/ Ramon Oliu

	 
	Name: Ramon Oliu

	 
	Title:   Director

	
		
	TEREX AUSTRALIA PTY LTD
(ACN 010 671 048),

	by

	 
	/s/ John D. Sheehan

	 
	Name: John D. Sheehan

	 
	Title:   Director

	 

	by

	 
	/s/ Eric I Cohen

	 
	Name: Eric I Cohen

	 
	Title:   Company Secretary

	
		
	GENIE INDUSTRIES, INC. 
TEREX SOUTH DAKOTA, INC. 
TEREX WASHINGTON, INC.
TEREX ADVANCE MIXER, INC.
TEREX FINANCIAL SERVICES, INC.,

	

By

	 
	/s/ Eric I Cohen

	 
	Name: Eric I Cohen

	 
	Title:   Vice President

	
		
	TEREX USA, LLC,

	By

	 
	/s/ Eric I Cohen

	 
	Name: Eric I Cohen

	 
	Title:   Senior Vice President

	
		
	TEREX UTILITIES, INC.,

	By

	 
	/s/ Eric I Cohen

	 
	Name: Eric I Cohen

	 
	Title:   President

	
		
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, individually as an Incremental Revolving Credit Lender and as Administrative Agent and Collateral Agent,

	 

	by

	 
	/s/ William O'Daly

	 
	Name:  William O'Daly

	 
	Title:  Authorized Signatory

	 

	by

	 
	/s/ Brady Bingham

	 
	Name:  Brady Bingham

	 
	Title:  Authorized Signatory

	
		
	BARCLAYS BANK PLC,

	 

	by

	 
	/s/ Craig Malloy

	 
	Name:  Craig Malloy

	 
	Title:  Director

	
		
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

	 

	by

	 
	/s/ Gordon Yip

	 
	Name:  Gordon Yip

	 
	Title:  Director

	 

	by

	 
	/s/ Mark Koneval

	 
	Name:  Mark Koneval

	 
	Title:  Managing Director

	
		
	COMMERZBANK AG, NEW YORK BRANCH,

	 

	by

	 
	/s/ Anne Culver

	 
	Name:  Anne Culver

	 
	Title:  Vice President

	 

	by

	 
	/s/ Tak Cheng

	 
	Name:  Tak Cheng

	 
	Title:  Assistant Vice President

	
		
	DEUTSCHE BANK AG NEW YORK BRANCH,

	 

	by

	 
	/s/ Marguerite Sutton

	 
	Name:  Marguerite Sutton

	 
	Title:  Vice President

	 

	by

	 
	/s/ Maria Guinchard

	 
	Name:  Maria Guinchard

	 
	Title:  Vice President

	
		
	MORGAN STANLEY BANK, N.A.,

	 

	by

	 
	/s/ Michael King

	 
	Name:  Michael King

	 
	Title:  Authorized Signatory

	 

	
		
	HSBC BANK USA, NATIONAL ASSOCIATION,

	 

	by

	 
	/s/ Patrick D. Mueller

	 
	Name:  Patrick D. Mueller

	 
	Title:  Managing Director

	 

	
		
	HSBC BANK PLC,

	 

	by

	 
	/s/ Jonathan O'Hara

	 
	Name:  Jonathan O'Hara

	 
	Title:  Relationship Director

	 

SCHEDULE I
Incremental Revolving Credit Commitments

	
							
	Incremental Revolving Credit Lender
	Incremental U.S. Revolving Credit Commitment
	Incremental Multicurrency Revolving Credit Commitment

	Credit Suisse AG, Cayman Islands Branch
	

	$10,714,285.74
	

	

	$10,714,285.74
	

	Barclays Bank PLC
	

	$10,714,285.71
	

	

	$10,714,285.71
	

	Credit Agricole Corporate and Investment Bank
	

	$10,714,285.71
	

	

	$10,714,285.71
	

	Commerzbank AG, New York Branch
	

	$10,714,285.71
	

	

	$10,714,285.71
	

	Deutsche Bank AG New York Branch
	

	$10,714,285.71
	

	

	$10,714,285.71
	

	Morgan Stanley Bank, N.A.
	

	$10,714,285.71
	

	

	$10,714,285.71
	

	HSBC Bank USA, National Association
	

	$10,714,285.71
	

	

	$0
	

	HSBC Bank plc
	

	$0
	

	

	$10,714,285.71
	

	TOTAL
	

	$75,000,000.00
	

	

	$75,000,000.00layn-ex411_1493.htm

 

Exhibit 4.11 

 

SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

This Second Amendment to Amended and Restated Credit Agreement, dated March 30, 2018, by and among Layne Christensen Company, a Delaware corporation (the “Administrative Borrower”), each Co-Borrower (as defined in the Credit Agreement (as defined below)), the Guarantors (as defined in the Credit Agreement), the Lenders (as defined in the Credit Agreement) and PNC Bank, National Association, as administrative agent for the Lenders (in such capacity, the “Agent”) (the “Second Amendment”).

W I T N E S S E T H:

WHEREAS, the Administrative Borrower, each Co-Borrower, the Guarantors, the Lenders (as defined in the Credit Agreement) party thereto, the Co-Collateral Agents (as defined in the Credit Agreement), the Agent, the Swingline Lender (as defined in the Credit Agreement), the Issuing Bank (as defined in the Credit Agreement), the Arranger (as defined in the Credit Agreement) and the Syndication Agent (as defined in the Credit Agreement) entered into that certain Amended and Restated Credit Agreement, dated as of August 17, 2015 (as amended, modified, supplemented or restated from time to time, the “Credit Agreement”), pursuant to which, among other things, the Lenders, the Swingline Lender and the Issuing Bank, as applicable, agreed to extend credit to Borrowers (as defined in the Credit Agreement); 

WHEREAS, the Borrowers and the Guarantors desire to amend certain provisions of the Credit Agreement and the Agent and the Lenders desire to permit such amendments on the terms and subject to the satisfaction of the conditions set forth herein.

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

1.Capitalized Terms.  All capitalized terms used herein which are defined in the Credit Agreement shall have the same meaning herein as in the Credit Agreement unless the context clearly indicates otherwise.

2.Amendments.  The effective date of this Second Amendment shall be the date on which this Second Amendment becomes effective in accordance with Section 3 below (the “Effective Date”).  As of the Effective Date, the Credit Agreement is amended as follows:

(a)Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions in the appropriate alphabetical order:

“11.0% Senior Unsecured Notes” shall mean the Administrative Borrower’s 11.0% Senior Unsecured Notes due October 16, 2019 issued pursuant to the 11.0% Senior Unsecured Notes Documents in 

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the aggregate original principal face amount of $71,000,000.  Such 11.0% Senior Unsecured Notes shall be classified as and comply with the requirements of “Permitted Refinancing Indebtedness” with respect to the Senior Unsecured Notes under this Agreement for all purposes.  The proceeds of such 11.0% Senior Unsecured Notes shall be used solely to Effectively Discharge the Senior Unsecured Notes.  

 

“11.0% Senior Unsecured Notes Agreement” shall mean that certain note purchase agreement dated as of March 19, 2018 among the Administrative Borrower and the purchasers listed therein providing for the issuance of 11.0% Senior Unsecured Notes.

 

“11.0% Senior Unsecured Notes Documents” shall mean any and all agreements, instruments and documents executed and delivered in connection with the 11.0% Senior Unsecured Notes Agreement.  

 

“Second Amendment Closing Date” shall mean March 30, 2018.

 

(b)The definition of “Maturity Date” is hereby amended and restated in its entirety as follows:

“Maturity Date” shall mean April 15, 2019; provided, however, that, the Maturity Date shall mean (a) July 16, 2018 if the Agent has not received evidence reasonably satisfactory to it that the Senior Unsecured Notes have been Effectively Discharged with the proceeds from the issuance of the 11.0% Senior Unsecured Notes by July 15, 2018 or (b) if (i) the issuance of the 11.0% Senior Unsecured Notes is cancelled for any reason or (ii) the proceeds of the 11.0% Senior Unsecured Notes are used for a purpose other than to Effectively Discharge the Senior Unsecured Notes in full, then May 15, 2018; provided, that if such event described in clause (i) or (ii) above occurs after May 15, 2018, then the date such event shall have occurred.

 

3.Conditions to Effectiveness.  The provisions of Section 2 of this Second Amendment shall not become effective until the Agent has received the following, each in form and substance acceptable to the Agent:

(a)this Second Amendment, duly executed by the Borrowers, the Guarantors, the Lenders and the Agent;

(b)Lenders, the Agent and Agent’s counsel shall have received payment of all fees and expenses owed to the Lenders, the Agent and the Agent's counsel, respectively, in connection with this Second Amendment; 

2

 

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074658.14080/106751365v.7

 

(c)the Administrative Borrower shall have furnished to the Agent a certificate from a Responsible Officer of the Administrative Borrower certifying as to compliance with the requirements of clauses (a) through (e) of “Permitted Refinancing Indebtedness” in the Credit Agreement with respect to the 11.0% Senior Unsecured Notes; and

(d)such other documents as may be reasonably requested by the Agent.    

The authorization of the Agent and the Lenders to release their executed signature page for this Second Amendment shall constitute their acknowledgment that all of the above conditions have been satisfied.

 

4.Reaffirmation.  The Loan Parties hereby reconfirm and reaffirm that each of the representations and warranties made by any Loan Party set forth in Article III of the Credit Agreement or in any other Loan Document are true and correct in all material respects (or true and correct in all respects in the case of representations and warranties qualified by materiality or Material Adverse Effect) as of the date of this Second Amendment (or, to the extent any such representations or warranties relate to an earlier date, such representations and warranties shall have been true and correct in all material respects (or true and correct in all respects in the case of representations and warranties qualified by materiality or Material Adverse Effect) on and as of such earlier date).

5.Security Grant.  The Loan Parties acknowledge and agree that at all times the Security Documents continue to secure prompt payment when due of the Obligations and the Guarantees remain in full force and effect.

6.Representations and Warranties.  Each Loan Party hereby represents and warrants to the Lenders and the Agent that (i) this Second Amendment and the transactions to be entered into by each Loan Party in connection herewith are within such Loan Party's powers and have been duly authorized by all necessary corporate or other organizational action on the part of such Loan Party; (ii) the execution and delivery hereof by the Loan Parties and the performance and observance by the Loan Parties of the provisions hereof and of the Credit Agreement and all documents executed or to be executed therewith, do not violate the Organizational Documents of any Loan Party or any material Legal Requirement in any material respect; and (iii) this Second Amendment, the Credit Agreement and the other Loan Documents executed or to be executed by the Loan Parties in connection herewith or therewith, when executed by such Loan Party, will constitute a legal, valid and binding obligation of such Loan Party, enforceable in accordance with their respective 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.  The Loan Parties represent and warrant that (i) no Default or Event of Default exists under the Credit Agreement, nor will any occur as a result of the execution and delivery and effectiveness of this Second Amendment or the performance or observance of any provision hereof and (ii) they presently have no claims or actions of any kind at law or in equity against the Lenders or the Agent arising out of or in any way relating to the Credit Agreement or the Loan Documents.

7.Miscellaneous.  

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074658.14080/106751365v.7

 

(a)Each reference to the Credit Agreement that is made in the Credit Agreement or any other document executed or to be executed in connection therewith shall hereafter be construed as a reference to the Credit Agreement as amended hereby.

(b)The agreements contained in this Second Amendment are limited to the specific agreements contained herein.  Except as amended hereby, all of the terms and conditions of the Credit Agreement and the Loan Documents shall remain in full force and effect.  This Second Amendment amends the Credit Agreement and is not a novation thereof.

(c)The headings of any paragraph of this Second Amendment are for convenience only and shall not be used to interpret any provision hereof. 

(d)This Second Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts each of which, when so executed, shall be deemed to be an original, but all such counterparts shall constitute but one and the same instrument.

(e)This Second Amendment shall be governed by, and shall be construed and enforced in accordance with, the laws of the State of New York.  This Second Amendment is a Loan Document.

 

 

[INTENTIONALLY LEFT BLANK]

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074658.14080/106751365v.7

 

IN WITNESS WHEREOF, and intending to be legally bound, the parties hereto, have caused this Second Amendment to be duly executed by their duly authorized officers on the day and year first above written.

ADMINISTRATIVE BORROWER

 

LAYNE CHRISTENSEN COMPANY

 

By:   /s/ J. Michael Anderson

Name:   J. Michael Anderson

Title:  Chief Financial Officer

 

CO-BORROWERS

 

LAYNE GEO, INC.

COLLECTOR WELLS INTERNATIONAL, INC.

FENIX SUPPLY LLC

INLINER TECHNOLOGIES, LLC

INTERNATIONAL DIRECTIONAL SERVICES, L.L.C.

LAYNE HEAVY CIVIL, INC.

LAYNE INLINER, LLC

LAYNE TRANSPORT CO.

LINER PRODUCTS, LLC

REYNOLDS WATER ISLAMORADA, LLC

LAYNE VTI, INC.

W.L. HAILEY & COMPANY, INC.

 

 

By:   /s/ J. Michael Anderson

Name:   J. Michael Anderson

Title:  Chief Financial Officer

 

GUARANTORS

 

BOYLES BROS. DRILLING COMPANY

CHRISTENSEN BOYLES CORPORATION

LAYNE INTERNATIONAL, LLC

LAYNE SOUTHWEST, INC.

MEADORS CONSTRUCTION CO., INC.

MID-CONTINENT DRILLING COMPANY

 

By:   /s/ J. Michael Anderson

Name:   J. Michael Anderson

Title:  Chief Financial Officer

 

 

 

 

PNC BANK, NATIONAL ASSOCIATION,
as Agent and as a Lender 

 

 

 

By:  /s/ Victor Alarcon

Name:  Victor Alarcon

Title:  Senior Vice President

 

 

WELLS FARGO BANK, N.A.,
as a Lender

 

 

 

By:  /s/ Lynn Fiore

Name:  Lynn Fiore

Title:  Vice President

 

 

 

 

 

JFIN BUSINESS CREDIT FUND I, LLC,
as a Lender

 

 

 

By:  /s/ J. Paul McDonnell

Name:  J. Paul McDonnell

Title:  Managing Director

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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074658.14080/106751365v.7

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