Document:

EXHIBIT 10.1

 

FIFTH AMENDMENT TO REVOLVING CREDIT,
TERM LOAN

AND SECURITY AGREEMENT

 

 

THIS FIFTH AMENDMENT TO REVOLVING CREDIT,
TERM LOAN AND SECURITY AGREEMENT (this “Agreement”) is entered into April 8, 2016 by and among HUDSON TECHNOLOGIES
COMPANY, a corporation organized under the laws of the State of Tennessee (the “Borrower”), the financial institutions
which are now or which hereafter become a party hereto (collectively, the “Lenders” and individually a “Lender”)
and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as agent for Lenders (PNC, in such capacity, the “Agent”).

 

RECITALS

 

Whereas, the Borrower and the Lenders entered
into a certain Revolving Credit, Term Loan and Security Agreement dated June 22, 2012 (as has been, and is being and may be further
amended, replaced, restated, modified and/or extended, the “Loan Agreement”); and

 

Whereas, Borrower and the Lenders have agreed
to modify the terms of the Loan Agreement as set forth in this Agreement.

 

Now, therefore, in consideration of the
Lenders’ continued extension of credit and the agreements contained herein, the parties agree as follows:

 

AGREEMENT

 

		1)	ACKNOWLEDGMENT OF BALANCE. Borrower acknowledges that the most recent statement of account
sent to the Borrower with respect to the Obligations is correct.

 

		2)	MODIFICATIONS. The Loan Agreement be and hereby is modified as follows:

 

		(a)	The following definitions contained in Section 1.2 of the Loan Agreement are hereby deleted and
replaced to read as follows:

 

“Maximum Loan Amount” shall mean
$50,000,000 less repayments of the Term Note.

 

“Maximum Revolving Advance Amount”
shall mean $46,000,000.

 

“Termination Date” shall mean June
30, 2020 or such other date as the Lenders may agree in writing to extend the Termination Date until, without there being any obligation
on the part of the Lenders to extend the Termination Date.

 

		3)	ACKNOWLEDGMENTS. Borrower acknowledges and represents that:

 

(A)the Loan Agreement and
Other Documents, as amended hereby, are in full force and effect without any defense, claim, counterclaim, right or claim of set-off;

 

(B)to the best of its knowledge,
no default by the Agent or Lenders in the performance of their duties under the Loan Agreement or the Other Documents has occurred;

 

(C)all representations and
warranties of the Borrower contained herein, in the Loan Agreement and in the Other Documents are true and correct in all material
respects as of this date;

 

     

     

    

 

(D)Borrower has taken all
necessary action to authorize the execution and delivery of this Agreement; and

 

(E)this Agreement is a modification
of an existing obligation and is not a novation.

 

		4)	PRECONDITIONS. As a precondition to the effectiveness of any of the modifications, consents,
or waivers contained herein, the Borrower agrees to:

 

(A)provide the Agent with
this Agreement, the Second Amended and Restated Revolving Credit Note and the Guarantor’s Ratification properly executed;

 

(B)provide the Agent with
Resolutions and Secretary’s Certificates of the Borrower and Guarantors in form and substance acceptable to the Agent where
approving the modifications contemplated hereby.

 

(C)Pay to the Agent an amendment
fee in the amount of $50,000.

 

(D)pay all legal fees incurred
by the Agent in entering into this Agreement to Wilentz, Goldman & Spitzer via wire transfer; and

 

(E)pay all other fees and
costs incurred by the Lenders in entering into this Agreement.

 

		5)	MISCELLANEOUS. This Agreement shall be construed in accordance with and governed by the
laws of the State of New York, without reference to that state’s conflicts of law principles. This Agreement, the Loan Agreement
and the Other Documents constitute the sole agreement of the parties with respect to the subject matter thereof and supersede all
oral negotiations and prior writings with respect to the subject matter thereof. No amendment of this Agreement, and no waiver
of any one or more of the provisions hereof shall be effective unless set forth in writing and signed by the parties hereto. The
illegality, unenforceability or inconsistency of any provision of this Agreement shall not in any way affect or impair the legality,
enforceability or consistency of the remaining provisions of this Agreement, the Loan Agreement or the Other Documents. This Agreement,
the Loan Agreement and the Other Documents are intended to be consistent. However, in the event of any inconsistencies among this
Agreement, the Loan Agreement and/or any of the Other Documents, the terms of this Agreement, then the Loan Agreement, shall control.
This Agreement may be executed in any number of counterparts and by the different parties on separate counterparts. Each such counterpart
shall be deemed an original, but all such counterparts shall together constitute one and the same agreement.

 

		6)	DEFINITIONS. The terms used herein and not otherwise defined or modified herein shall have
the meanings ascribed to them in the Loan Agreement. The terms used herein and not otherwise defined or modified herein or defined
in the Loan Agreement shall have the meanings ascribed to them by the Uniform Commercial Code as enacted in State of New York.

  

     

     

    

 

IN WITNESS WHEREOF, the undersigned
have signed and sealed this Agreement the day and year first above written.

 

 

	ATTEST:	 	HUDSON TECHNOLOGIES COMPANY
	 	 	 	 	 	 
	 	 	 	 	 	 
	/s/ Stephen P. Mandracchia	 	By:  	/s/ Kevin J. Zugibe
	Name	STEPHEN P. MANDRACCHIA	 	 	Name:  	KEVIN J. ZUGIBE
	Title:	Secretary	 	 	Title:	Chief Executive Officer
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	PNC BANK, NATIONAL ASSOCIATION
	 	 	 	Lender and as Agent
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	By:	/s/ Glenn D. Kreutzer
	 	 	 	 	Name:	GLENN D. KREUTZER
	 	 	 	 	Title:	Vice PresidentEXHIBIT 10.2

 

 

SECOND AMENDED AND RESTATED REVOLVING
CREDIT NOTE

PNC Bank, National Association

 

	$46,000,000	April 8, 2016
	 	Woodbridge, N.J.

 

 

This Second Amended and
Restated Revolving Credit Note (this “Note”) is executed and delivered under and pursuant to the terms of that certain
Revolving Credit, Term Loan and Security Agreement dated June 22, 2012 (as amended, restated, supplemented or modified from time
to time, the “Loan Agreement”) by and among HUDSON TECHNOLOGIES COMPANY, a corporation of the State of Tennessee
(the “Borrower”), and PNC BANK, NATIONAL ASSOCIATION (“PNC”), the various financial institutions
named therein or which hereafter become a party thereto (together with PNC collectively, “Lenders”) and PNC as agent
for Lenders (in such capacity, “Agent”). Capitalized terms not otherwise defined herein shall have the meanings provided
in the Loan Agreement.

 

FOR VALUE RECEIVED, the
Borrower hereby promises to pay to the order of PNC, at the office of Agent located at PNC Bank Center, Two Tower Center, East
Brunswick, New Jersey 08816 or at such other place as Agent may from time to time designate to Borrower in writing:

 

(i) the principal sum
of FORTY-SIX MILLION AND 00/100 DOLLARS ($46,000,000) or, if different from such amount, the unpaid principal balance of the Revolving
Advances as may be due and owing to PNC under the Loan Agreement, payable in accordance with the provisions of the Loan Agreement,
subject to acceleration upon the occurrence of an Event of Default under the Loan Agreement or earlier termination of the Loan
Agreement pursuant to the terms thereof; and

 

(ii) interest on the
principal amount of this Note from time to time outstanding until such principal amount is paid in full at the applicable Revolving
Interest Rate in accordance with the provisions of the Loan Agreement. In no event, however, shall interest exceed the maximum
interest rate permitted by law. Upon and after the occurrence of an Event of Default, and during the continuation thereof, interest
shall be payable at the Default Rate in accordance with the Loan Agreement; and

 

(iii) notwithstanding
anything to the contrary herein, in the Loan Agreement and/or in any Other Document, all outstanding principal and interest hereunder
is due and payable on the Termination Date.

 

This Note is a “Revolving
Credit Note” referred to in the Loan Agreement and is secured, inter alia, by the liens granted pursuant to
the Loan Agreement and the Other Documents, is entitled to the benefits of the Loan Agreement and the Other Documents and is subject
to all of the agreements, terms and conditions therein contained. This Note is intended to replace and restate a certain $36,000,000
Amended and Restated Revolving Credit Note dated February __, 2013 issued to the order of PNC.

 

     

     

    

 

This Note is subject
to mandatory prepayment, and may be voluntarily prepaid, in whole or in part, in each case, on the terms and conditions set forth
in the Loan Agreement.

 

If an Event of Default
under Section 10.7 of the Loan Agreement shall occur, then this Note shall immediately become due and payable, without notice,
together with reasonable attorneys’ fees if the collection hereof is placed in the hands of an attorney to obtain or enforce
payment hereof. If any other Event of Default shall occur under the Loan Agreement or any of the Other Documents, which is not
cured within any applicable grace period, then this Note may, as provided in the Loan Agreement, be declared to be immediately
due and payable, without notice, together with reasonable attorneys’ fees, if the collection hereof is placed in the hands
of an attorney to obtain or enforce payment hereof.

 

Lenders may at any time
pledge or assign all or any portion of their rights under the Loan Agreement and the Other Documents (including any portion of
this Note) to any of the twelve (12) Federal Reserve Banks organized under Section 4 of the Federal Reserve Act, 12 U.S.C. Section
341. No such pledge or assignment or enforcement thereof shall release Lenders from their obligations under the Loan Agreement
or any of the Other Documents.

 

This Note shall be construed
and enforced in accordance with the laws of the State of New York.

 

Borrower expressly waives
any presentment, demand, protest, notice of protest, or notice of any kind except as expressly provided in the Loan Agreement.

  

 

	ATTEST:	 	HUDSON TECHNOLOGIES COMPANY
	 	 	 	 	 	 
	/s/ Stephen P. Mandracchia	 	By:  	/s/ Kevin J. Zugibe
	Name:	STEPHEN P. MANDRACCHIA 	 	 	Name:	KEVIN J. ZUGIBE
	Title:	Secretary	 	 	Title: 	Chief Executive Officer

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