Document:

nxgn-ex101_60.htm

 

Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 1

Dated as of May 17, 2022

to

CREDIT AGREEMENT

Dated as of March 12, 2021

THIS AMENDMENT NO. 1 (this “Amendment”) is made as of May 17, 2022 by and among NextGen Healthcare, Inc. (the “Borrower”), the financial institutions listed on the signature pages hereof and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent’), under that certain Second Amended and Restated Credit Agreement dated as of March 12, 2021 by and among the Borrower, the Lenders from time to time party thereto and the Administrative Agent (as further amended, restated, supplemented or otherwise modified from time to time, the “Existing Credit Agreement”; and the Existing Credit Agreement as amended by this Amendment, the “Amended Credit Agreement”).  Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Amended Credit Agreement (as defined below).

WHEREAS, the Borrower has requested that the requisite Lenders and the Administrative Agent agree to make certain amendments to the Existing Credit Agreement; and

WHEREAS, the Borrower, the Lenders party hereto and the Administrative Agent have so agreed on the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment.

1.Amendments to the Existing Credit Agreement.  Effective as of the Amendment No. 1 Effective Date (as defined below), the Existing Credit Agreement is hereby amended as follows:

(a)The definition of “Restricted Payment Requirements” set forth in Section 1.01 of the Existing Credit Agreement is hereby amended to (i) replace each reference to “Total Leverage Ratio” appearing therein with “Net Leverage Ratio” and (ii) replace each reference to “$11,500,000” appearing therein with “$25,000,000”.

(b)Section 1.01 of the Existing Credit Agreement is amended to (i) delete the definition of “Total Leverage Ratio” therefrom and (ii) add the following defined term thereto in the appropriate alphabetical order:  “Amendment No. 1 Effective Date” means May 17, 2022.

(c)Section 1.04(b) of the Existing Credit Agreement is amended to add the following proviso to the end of the first sentence thereof: “; provided that, solely for purposes of determining compliance with the Restricted Payment Requirements in connection with any repurchase by 

 

 

the Borrower of its common Equity Interests on or about the Amendment No. 1 Effective Date, this clause (ii) shall not apply to the proceeds of any Convertible Debt Securities issued on or about the Amendment No. 1 Effective Date.”

(d)Section 6.07 of the Existing Credit Agreement is hereby amended to (i) delete the word “and” appearing at the end of clause (d) thereof, (ii) replace the period at the end of clause (e) thereof with a semicolon, (iii) add the following as a new clause (f) thereof: “(f) the Borrower may make interest payments due on any Convertible Debt Securities; and”, and (iv) add the following as a new clause (g) thereof: “(g) the Borrower may make Restricted Payments on Convertible Debt Securities if such Restricted Payments are permitted by Section 6.09(c).”

(e)Section 6.09(c) of the Existing Credit Agreement is hereby amended to (i) add the parenthetical “(plus accrued and unpaid interest, if any)” immediately following the phrase “the principal amount” appearing in clause (ii) thereof, (ii) replace the word “and” appearing at the end of clause (ii) thereof with “,”, (iii) replace clause (iii) thereof with “(iii) any such redemption, repurchase, conversion, exchange or settlement made with a combination of an amount of cash not to exceed the principal amount of Convertible Debt Securities incurred pursuant to the terms of this Agreement, Equity Interests (other than Disqualified Stock) and cash in lieu of any fractional shares”, and (iii) add the following as a new clause (iv) thereof: “(iv) any other redemption, repurchase, conversion, exchange or settlement so long as, solely for purposes of this Section 6.09(c)(iv), (x) at the time thereof and immediately after giving effect (including giving effect on a pro forma basis) thereto, (A) no Event of Default has occurred and is continuing or would result therefrom and (B) the Borrower is in pro forma compliance with the financial covenants set forth in Section 6.11 and (y) the aggregate amount of cash and Permitted Investments paid in connection with all such redemptions, repurchases, conversions, exchanges and settlements made in reliance on this Section 6.09(c)(iv) does not exceed the sum of (1) the principal amount of the Convertible Debt Securities plus (2) any payments received by the Borrower or any of its Subsidiaries pursuant to the exercise, settlement or termination of any related Permitted Equity Derivative; provided that, if the Net Leverage Ratio is less than 2.00 to 1.00 both before and immediately after giving effect (including giving effect on a pro forma basis) thereto, such redemption, repurchase, conversion, exchange or settlement shall not be included in such dollar limitation.”

(f)For purposes of determining compliance under Section 6.11(a) of the Amended Credit Agreement for any fiscal quarter of the Borrower ending after the Amendment No. 1 Effective Date, Section 6.11(a) of the Existing Credit Agreement is hereby amended to replace the reference therein to (a) “3.75 to 1.00” with “4.00 to 1.00” and (b) “4.25 to 1.00” with “4.75 to 1.00”.

2.Conditions of Effectiveness.  The effectiveness of this Amendment (the “Amendment No. 1 Effective Date”) is subject to the satisfaction of the following conditions precedent:

(a)The Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrower and the Required Lenders.

(b)The Borrower shall have paid to the Administrative Agent, for the account of each Lender that delivers its executed signature page to this Amendment by such time and date required by the Administrative Agent, a work fee to each such Lender in an amount equal to $10,000.

(c)The Administrative Agent shall have received payment of the Administrative Agent’s fees and reasonable and documented out-of-pocket expenses (including reasonable and documented out-of-pocket fees and expenses of counsel for the Administrative Agent) in connection with this Amendment for which invoices have been presented on or before the Amendment No. 1 Effective Date to the extent such fees and expenses are invoiced at least three (3) Business Days in advance of the 

 

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Amendment No. 1 Effective Date, or if invoiced thereafter, within thirty (30) days of written demand (including documentation reasonably supporting such request).

3.Representations and Warranties of the Borrower.  The Borrower hereby represents and warrants as follows:

(a)This Amendment and the Amended Credit Agreement constitute legal, valid and binding obligations of the Borrower and, in the case of the Amended Credit Agreement, the other Loan Parties party thereto, 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.

(b)As of the date hereof and after giving effect to the terms of this Amendment, (i) no Default or Event of Default has occurred and is continuing or would result therefrom and (ii) the representations and warranties of the Loan Parties set forth in the Amended Credit Agreement and the other Loan Documents are true and correct in all material respects (or in all respects in the case of any representation and warranty qualified by materiality or Material Adverse Effect) with the same effect as though made on and as of the date hereof (it being understood and agreed that any representation or warranty which by its terms is made as of a specified date is true and correct in all material respects (or in all respects in the case of any representation and warranty qualified by materiality or Material Adverse Effect) only as of such specified date).

4.Reference to and Effect on the Existing Credit Agreement.

(a)Upon the effectiveness hereof, each reference to the Existing Credit Agreement in the Existing Credit Agreement or any other Loan Document shall mean and be a reference to the Amended Credit Agreement.

(b)On behalf of itself and each of the other Loan Parties, the Borrower hereby (i) agrees that, except as otherwise set forth herein, this Amendment and the transactions contemplated hereby shall not limit or diminish the obligations of the Loan Parties arising under or pursuant to the Loan Documents to which each such Loan Party is a party, (ii) reaffirms all of the Loan Parties’ obligations under the Existing Credit Agreement and the other Loan Documents to which each such Loan Party is a party except as specifically modified herein and (iii) acknowledges and agrees that the Existing Credit Agreement and each other Loan Document executed by each such Loan Party remains in full force and effect and is hereby reaffirmed, ratified and confirmed, in each case, except as specifically modified herein.

(c)Except as set forth herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Lenders or the Administrative Agent under the Existing Credit Agreement or any of the other Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection therewith.

(d)This Amendment is a Loan Document. 

5.Governing Law.  This Amendment shall be governed by and construed in accordance with and governed by the law of the State of New York.  The parties hereto agree that provisions of Sections 9.09 and 9.10 of the Amended Credit Agreement are hereby incorporated by reference, mutatis mutandis.

 

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6.Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

7.Counterparts.  This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of a signature page of this Amendment that is an Electronic Signature transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment.  The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Amendment shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided, that, without limiting the foregoing, (i) to the extent the Administrative Agent has agreed to accept any Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower without further verification thereof and without any obligation to review the appearance or form of any such Electronic Signature, and (ii) upon the request of the Administrative Agent or any Lender, any Electronic Signature shall be promptly followed by a manually executed counterpart.

[Signature Pages Follow]

 

 

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

 

NEXTGEN HEALTHCARE, INC.,

as the Borrower

 

 

By:/s/ James R. Arnold, Jr. 
Name: James R. Arnold, Jr.

Title: EVP, Chief Financial Officer

 

 

 

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

 

JPMORGAN CHASE BANK, N.A.,

individually as a Lender and as Administrative Agent

 

 

By: /s/ Ling Li

Name: Ling Li

Title: Executive Director

 

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

 

U.S. BANK NATIONAL ASSOCIATION,

as a Lender

 

 

By: /s/ Andrew Williams

Name: Andrew Williams

Title: Senior Vice President

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

BANK OF THE WEST,

as a Lender

 

 

By: /s/ Michael Tschida

Name: Michael Tschida

Title: Managing Director

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Lender

 

 

By:/s/ Brandon Moss

Name: Brandon Moss

Title: Vice President

 

 

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

 

CITY NATIONAL BANK,

as a Lender

 

 

By: /s/ Marie-Lou Godinez

Name: Marie-Lou Godinez

Title: Senior Vice President

 

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

 

TRUIST BANK,

as a Lender

 

 

By:/s/ Jonathan Hart

Name: Jonathan Hart

Title: Director

 

 

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

 

PNC BANK, NATIONAL ASSOCIATION (f/k/a BBVA USA),

as a Lender

 

 

By: /s/ Jonas R. Berglund

Name: Jonas R. Berglund

Title: Senior Vice President

 

 

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

 

CITIZENS BANK, N.A.,

as a Lender

 

 

By: /s/ Mark Guyeski

Name: Mark Guyeski

Title: Vice President

 

 

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.

 

 

 

FIRST-CITIZENS BANK & TRUST COMPANY

(successor by merger to CIT BANK, N.A.,) 

as a Lender

 

By:/s/ Jean-Pierre Knight

Name: Jean-Pierre Knight

Title: Managing Director

 

Signature Page to Amendment No. 1 to

Second Amended and Restated Credit Agreement dated as of March 12, 2021

NextGen Healthcare, Inc.Document

Execution Version

This FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is dated as of June 13, 2022 and is by and among
(i)    OWENS CORNING, a Delaware corporation (the “Borrower”);
(ii)    the Lenders party to the Credit Agreement which are signatories hereto; and
(iii)    WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (in such capacity, the “Administrative Agent”).
Unless otherwise indicated, all capitalized terms used herein and not otherwise defined herein shall have the respective meanings provided such terms in the Credit Agreement, and when used herein each term defined in Annex I hereto has the same meaning herein as provided therein.
W I T N E S S E T H :
WHEREAS, the Borrower, the financial institutions party thereto (the “Existing Lenders”), and the Administrative Agent are parties to the Amended and Restated Credit Agreement dated as of July 23, 2021 (the “Credit Agreement”); and
WHEREAS, the parties hereto wish to amend the Credit Agreement on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Amendments to Credit Agreement.  Upon the Effective Date (as defined below), the Credit Agreement is hereby amended as follows:
(a)The following defined terms are hereby added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order:
“First Amendment” shall mean the First Amendment to Amended and Restated Credit Agreement dated as of the First Amendment Effective Date by and among the Borrower, the Administrative Agent and the Lenders party thereto.  

“First Amendment Effective Date” shall mean the Effective Date as defined in the First Amendment.  For the avoidance of doubt, the First Amendment Effective Date is June 13, 2022.  

(b)The defined term “Sanctioned Country” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows:
AmericasActive:16992873.4

“Sanctioned Country” shall mean a country, region or territory that is itself the subject of a comprehensive sanctions program (as of the First Amendment Effective Date, Cuba, Iran, North Korea, Syria, Crimea and the Luhansk and Donetsk regions of Ukraine).
(c)Section 6.17 of the Credit Agreement is hereby amended and restated in its entirety as follows:
6.17 Sanctions, Anti-Money Laundering and Anti-Corruption Laws. Neither the Borrower nor any of its Subsidiaries nor, to the knowledge of the Borrower, any of the officers, directors, employees or agents of itself or its Subsidiaries: (i) is, or is owned 50% or more by a Sanctioned Person or is the target of any Sanctions; or (ii) is located, incorporated, organized, or resident in a Sanctioned Country, in each case for clauses (i) and (ii) such that Administrative Agent or any Lender is prohibited under Sanctions from transacting with the Borrower.  The Borrower will not use proceeds of any Extension of Credit in any manner that will cause a violation of Anti-Money Laundering Laws, Anti-Corruption Laws or Sanctions by any Person participating in the transaction contemplated by this Agreement. The Borrower and its Subsidiaries have implemented and maintain in effect policies and procedures designed to promote compliance by Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Money Laundering Laws, Anti-Corruption Laws and Sanctions, and the Borrower, its Subsidiaries and their respective officers and employees and to the knowledge of the Borrower, its and its Subsidiaries’ directors, employees and agents, are in compliance with Anti-Money Laundering Laws, Anti-Corruption Laws and Sanctions in all material respects.
2.Representations and Warranties.  The Borrower hereby represents and warrants that:
(a)The representations and warranties contained in Article VI of the Credit Agreement are true and correct in all material respects on and as of the date hereof with the same effect as if made on and as of such date, except for any representation and warranty made as of an earlier date, which representation and warranty is true and correct in all material respects as of such earlier date; provided, that if a representation and warranty is qualified as to materiality, the materiality qualifier set forth above shall be disregarded with respect to such representation and warranty for purposes of this representation.
(b)Since December 31, 2021, nothing has occurred (singly or in the aggregate with all other occurrences) that has had, or could reasonably be expected to have, a Material Adverse Effect.
(c)No Default or Event of Default has occurred and is continuing as of the date hereof.
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3.Effectiveness.  This Amendment is a Loan Document and shall become effective upon the date (the “Effective Date”) of the satisfaction of all of the following conditions:
(a)the execution and delivery hereof by the Borrower, the Administrative Agent and the Required Lenders (without regard to whether it has been executed and delivered by all the Lenders); and
(b)the Borrower shall have paid on or prior to the Effective Date all fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) to the extent accrued and unpaid prior to or on the Effective Date.
4.References; Effect.  Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as modified hereby.  Except as specifically amended hereby, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.
5.No Waiver.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of or consent to any provision of the Credit Agreement or any other Loan Documents executed and/or delivered in connection therewith.
6.Counterparts.  This Amendment may be executed in any number of counterparts (and by the different parties hereto on separate 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 of this Amendment by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart hereof.
7.Governing Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REFERENCE TO THE CONFLICTS OR CHOICE OF LAW PRINCIPLES THEREOF.
8.Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.
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IN WITNESS WHEREOF, the parties hereto have caused their duly authorized signatories to execute and deliver this Amendment as of the date first above written.

BORROWER:
OWENS CORNING
By:    /s/ Matthew Fortunak                                     
Name: Matthew Fortunak
Title:   Vice President and Treasurer
By:     /s/ Brian Hill    
Name: Brian Hill
Title:   Assistant Treasurer

Signature Page to
First Amendment to Amended and Restated Credit Agreement

AGENTS AND LENDERS:

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Issuing Lender, Swingline Lender and Lender

By:     /s/ Kay Reedy    
Name: Kay Reedy
Title:  Managing Director
Signature Page to
First Amendment to Amended and Restated Credit Agreement

BANK OF AMERICA, N.A., as a Lender

By:/s/ Erron Powers                                             
Name: Erron Powers
Title: Director
Signature Page to
First Amendment to Amended and Restated Credit Agreement

CITIBANK, N.A., as an Issuing Lender and Lender

By:     /s/ Michael Vondriksa    
Name: Michael Vondriska
Title:  Vice President
Signature Page to
First Amendment to Amended and Restated Credit Agreement

BNP PARIBAS, as a Lender

By:     /s/Tony Baratta    
Name: Tony Baratta
Title:  Managing Director

By:     /s/ Michael Hoffman                                     
Name: Michael Hoffman
Title:  Managing Director
Signature Page to
First Amendment to Amended and Restated Credit Agreement

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Lender

By:     /s/ Rose Mary Perez    
Name: Rose Mary Perez
Title:   Managing Director

By:     /s/ Gordon Yip    
Name: Gordon Yip
Title:   Director

Signature Page to
First Amendment to Amended and Restated Credit Agreement

FIFTH THIRD BANK, NATIONAL ASSOCIATION, as a Lender

By:     /s/ Zach Femal    
Name: Zach Femal
Title:   AVP

Signature Page to
First Amendment to Amended and Restated Credit Agreement

JPMORGAN CHASE BANK, N.A., as a Lender

By:     /s/ Jonathan Bennett                                      
Name: Jonathan Bennett
Title:   Executive Director

Signature Page to
First Amendment to Amended and Restated Credit Agreement

PNC BANK, NATIONAL ASSOCIATION, as a Lender

By:     /s/ Scott Neiderheide    
Name: Scott Neiderheide
Title:   Senior Vice President

Signature Page to
First Amendment to Amended and Restated Credit Agreement

THE BANK OF NOVA SCOTIA, as a Lender

By:     /s/ Dhirendra Udharamaney                          
Name: Dhirendra Udharamaney
Title:   Director

Signature Page to
First Amendment to Amended and Restated Credit Agreement

BANK OF CHINA, NEW YORK BRANCH, as a Lender

By:     /s/ Raymond Qiao    
Name: Raymond Qiao
Title:   Executive Vice President

Signature Page to
First Amendment to Amended and Restated Credit Agreement

GOLDMAN SACHS BANK USA, as a Lender

By:     /s/ Dan Martis                                               
Name: Dan Martis
Title:   Authorized Signatory

Signature Page to
First Amendment to Amended and Restated Credit Agreement

HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender

By:     /s/ Kyle Patterson    
Name: Kyle Patterson
Title:   Senior Vice President

Signature Page to
First Amendment to Amended and Restated Credit Agreement

ING BANK N.V., DUBLIN BRANCH, as a Lender

By: /s/ Cormac Langford                                     
Name: Cormac Langford
Title:   Director

By:     /s/ Rosemary Healy    
Name: Rosemary Healy
Title:   Vice President
Signature Page to
First Amendment to Amended and Restated Credit Agreement

DANSKE BANK A/S, FINLAND BRANCH, as a Lender

By:     /s/ Juha Salmenpohja    
Name: Juha Salmenpohja
Title: 

Signature Page to First Amendment to Amended and Restated Credit Agreement
AmericasActive:16992873.4

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