Document:

Exhibit

Exhibit 10.1

ALIGN TECHNOLOGY, INC.

THIRD AMENDMENT
TO CREDIT AGREEMENT

This THIRD AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is dated as of March 17, 2016 and entered into by and among Align Technology, Inc., a Delaware corporation ("Borrower") and Wells Fargo Bank, National Association ("Bank").  

RECITALS

WHEREAS, Borrower is currently indebted to Bank pursuant to the terms and conditions of that certain Credit Agreement dated as of March 22, 2013 (as amended, the "Credit Agreement"), by and between Borrower and Bank.  Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Credit Agreement.  

WHEREAS, Bank and Borrower have agreed to certain changes in the terms and conditions set forth in the Credit Agreement and have agreed to amend the Credit Agreement to reflect said changes as set forth below.  

NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that the Credit Agreement shall be amended as follows:  

Section 1.    AMENDMENTS TO THE CREDIT AGREEMENT

A.     The “Maturity Date” as defined in the Section entitled “LINE OF CREDIT” is hereby amended to March 22, 2017. 

B.     The Section entitled "NEGATIVE COVENANTS: CAPITAL EXPENDITURES" is hereby amended by deleting it in its entirety and substituting the following therefor: 

“CAPITAL EXPENDITURES.  Make any additional investment in fixed assets (“Capital Expenditures”) in excess of an aggregate of $70,000,000.00 during any fiscal year; provided, that the foregoing shall not apply to (x) expenditures of insurance proceeds to rebuild or replace any asset after a casualty loss or (y) leasehold improvement expenditures for which Borrower or a Subsidiary is reimbursed promptly by the related lessor. Notwithstanding the foregoing, the maximum amount of Capital Expenditures permitted by this Section in any fiscal year shall be increased by the amount of Capital Expenditures that were permitted to be made under this Section in the immediately preceding Fiscal Year (without giving effect to any carryover amount from prior fiscal years) over the amount of Capital Expenditures actually made during such preceding fiscal year in an amount not to exceed $10,000,000.00; provided that Capital Expenditures in such fiscal year shall be counted last against any amount so carried forward.” 

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Section 2.    CONDITIONS TO EFFECTIVENESS

Section 1 of this Amendment shall become effective only upon the satisfaction of all of the following conditions precedent (the date of satisfaction of such conditions being referred to herein as the "Third Amendment Effective Date"):  

A. On or before the Third Amendment Effective Date, Borrower shall deliver to Bank executed copies of this Amendment, dated the Third Amendment Effective Date.  

B. Bank shall have executed this Agreement.  

C.     On or before the Third Amendment Effective Date, all corporate and other proceedings taken or to be taken in connection with the transactions contemplated hereby and all documents incidental thereto not previously found acceptable by Bank and its counsel shall be satisfactory in form and substance to Bank and such counsel, and Bank and such counsel shall have received all such counterpart originals or certified copies of such documents as Bank may reasonably request.  

Section 3. BORROWER'S REPRESENTATIONS AND WARRANTIES

In order to induce Bank to enter into this Amendment and to amend the Credit Agreement in the manner provided herein, Borrower represents and warrants to Bank that the following statements are true, correct and complete:  

A.     Legal Status.  Borrower has all requisite corporate power and authority to enter into this Amendment and to carry out the transactions contemplated by, and perform its obligations under, the Credit Agreement as amended by this Amendment (the "Amended Agreement") 

B.     Authorization and Validity.  The execution and delivery of this Amendment and the performance of the Amended Agreement have been duly authorized by all necessary corporate action on the part of Borrower, and this Amendment and the Amended Agreement are the legally valid and binding agreements and obligations of Borrower or the party which executes the same, enforceable against Borrower or the party which executes the same in accordance with their respective terms.  

C.     No Violation.  The execution and delivery by Borrower of this Amendment and the performance by Borrower of the Amended Agreement do not and will not violate any provision of any law or regulation, or contravene any provision of the Articles of Incorporation or By-Laws of Borrower, or any of its Subsidiaries or result In any breach of or default under any contract, obligation, indenture or other instrument to which Borrower is a party or by which Borrower or any of its Subsidiaries may be. bound.  

D.     Incorporation of Representations and Warranties From Loan Documents.  The representations and warranties contained in the Credit Agreement and in the other Loan 

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Documents are and will be true and correct in all material respects (except for any such representation or warranty that is qualified by materiality or reference to a Material Adverse Effect, which such representation and warranty shall be true and correct in all respects) on and as of the Third Amendment Effective Date with the same effect as though such representations and warranties were made on and as of that date, except to the extent such representations and warranties specifically relate.to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date (except for any such representation or warranty that is qualified by materiality or reference to a Material Adverse Effect, which such representation and warranty shall be true and correct in all respects as of such earlier date).  

E.     Absence of Default.  No Event of Default and no Potential Event of Default has occurred and is continuing or exists or will result from the consummation of the transactions contemplated by this Amendment.  

Section. 4. MISCELLANEOUS

A.     Reference to and Effect on the Credit Agreement and the Other Loan Documents.  

		
	(i)
	On and after the Third Amendment Effective Date, each reference in the Credit Agreement to "this Agreement", "hereunder", "hereof', "herein" or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to the "Credit Agreement", "thereunder", "thereof' or words of like import referring to the Credit Agreement shall mean and be a referenced to the Amended Agreement.  

		
	(ii)
	Except as specifically amended by this Amendment, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.

		
	(iii)
	The execution, delivery and performance of this Amendment shall not, except as expressly provided herein, constitute a waiver of any provisions of, or operate as a waiver of any right, power or remedy of Bank under, the Credit Agreement or any of the other Loan Documents.

B.     Fees and Expenses.  Borrower acknowledges that all costs, fees and expenses as described in the Section of the Credit Agreement entitled "MISCELLANEOUS: COSTS, EXPENSES AND ATTORNEYS' FEES" incurred by Bank and its counsel with respect to this Amendment and the documents and transactions contemplated hereby shall be for the account of Borrower.

C.     Headings. Section and subsection 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 or be given any substantive effect.  

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D.     Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California.

E.     Counterparts; Effectiveness. This Amendment may be executed in any number of counterparts, each of which when executed and delivered shall be deemed to be an original, and all of which when taken together shall constitute one and the same Amendment. This Amendment (other than the provisions of Section 1 hereof, the effectiveness of which is governed by Section 2 hereof) shall become effective upon the execution of a counterpart hereof by Borrower and Bank and each of the Loan Parties and receipt by Borrower and Bank of written or telephonic notification of such execution and authorization of delivery thereof.  

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

	
			
	 
	 
	ALIGN TECHNOLOGY, INC.

	 
	 
	By: /s/  Roger E. George

	 
	 
	Roger E. George

	 
	 
	Vice President, Legal and Corporate Affairs and General Counsel

	 
	 
	 

	 
	 
	WELLS FARGO BANK, NATIONAL ASSOCIATION

	 
	 
	By:  /s/ Charles M. Goldberg

	 
	 
	Name:  Charles M. Goldberg

	 
	 
	Title:     Senior Vice President

	 
	 
	 

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GUARANTORS' CONSENT AND REAFFIRMATION

Each undersigned guarantor of all indebtedness of ALIGN TECHNOLOGY, INC. to WELLS FARGO BANK, NATIONAL ASSOCIATION hereby: (i) consents to the foregoing Amendment; (ii) reaffirms its obligations under its respective Continuing Guaranty; (iii) reaffirms its waivers of each and every one of the defenses to such obligations as set forth in its respective Continuing Guaranty; and (iv) reaffirms that Its obligations under its respective Continuing Guaranty are separate and distinct from the obligations of any other party under the Credit Agreement (as defined in said Amendment) and the other Loan Documents (as defined in the Credit Agreement).  

GUARANTORS:

	
	
	CADENT HOLDINGS, INC.

	By: /s/  Roger E. George

	Name: Roger E. George

	Title:     Secretary

	 

	CADENT, INC.

	By: /s/  Roger E. George

	Name: Roger E. George

	Title:     Vice President and Secretary

	 

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 EXHIBIT 4.2 

FIRST SUPPLEMENTAL INDENTURE (this “First Supplemental Indenture”), dated as of March 18, 2016, by and among ESH
Hospitality, Inc., a Delaware corporation, (the “Company”), CP ESH Investor, LLC, a Delaware limited liability company (“CP ESH”) and Extended Stay LLC, a Delaware limited liability company (“ES
LLC”, and together with CP ESH, the “Guarantors”) and Deutsche Bank Trust Company Americas, as trustee (or its permitted successor) under the Indenture referred to below (the “Trustee”). 

WHEREAS, the Company, the Guarantors and the Trustee are parties as of the date hereof to that certain Indenture dated as of May 15, 2015
(as amended and supplemented from time to time, the “Indenture”), providing for the issuance of 5.25% Senior Notes due 2025 (the “Notes”); 

WHEREAS, the Company originally issued $500,000,000 aggregate principal amount of the Notes; 

WHEREAS, Section 9.01 of the Indenture provides, among other things, that the Company, the Guarantors and the Trustee, together, may
amend or supplement the Indenture without notice to or the consent of any Holder of a Note to provide for the issuance of Additional Notes and related Guaranties in accordance with the limitations set forth in the Indenture; and 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this First Supplemental Indenture.

 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Company, the Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

2. ADDITIONAL NOTES. On or after the date hereof, the Company shall issue $800,000,000 in aggregate principal amount of Additional Notes which
shall be considered Notes for all purposes under the Indenture. The Additional Notes and the Trustee’s certificate of authentication shall be substantially in the form included in the Indenture. 

3. RATIFICATION. Except as expressly amended by this First Supplemental Indenture, each provision of the Indenture shall remain in full force
and effect, and the Indenture is in all respects agreed to, ratified and confirmed by each of the Company, the Guarantors and the Trustee. 

4. GOVERNING LAW; WAIVER OF JURY TRIAL. THIS FIRST SUPPLEMENTAL INDENTURE, THE NOTES AND THE GUARANTIES WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES HERETO AND THE HOLDERS HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATING TO THIS FIRST SUPPLEMENTAL INDENTURE, THE NOTES, THE GUARANTIES OR THE TRANSACTION CONTEMPLATED HEREBY. 

 5. COUNTERPARTS. The parties may sign any number of copies of this First Supplemental Indenture.
Each signed copy shall be an original, but all of them together represent the same agreement. 
 6. EFFECT OF HEADINGS. The Section headings
herein are for convenience only and shall not affect the construction hereof. 
 7. THE TRUSTEE. The Trustee shall not be responsible for
and makes no representation as to the validity or adequacy of this First Supplemental Indenture or the Notes, it shall not be accountable for the Company’s use of the proceeds from the Notes, and it shall not be responsible for any statement of
the Company in this First Supplemental Indenture or any document issued in connection with the sale of Notes or any statement in the Notes other than the Trustee’s certificate of authentication. 

8. SUCCESSORS. All agreements of the Company, the Guarantors and the Trustee in this First Supplemental Indenture, the Notes, and the
Guarantees shall bind their respective successors. 
 9. SEVERABILITY. In case any one or more of the provisions in this First Supplemental
Indenture or in the Notes or Guarantees shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not
in any way be affected or impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the full extent permitted by law. 

10. EFFECTIVENESS. The provisions of this First Supplemental Indenture shall be effective only upon execution and delivery of this instrument
by the parties hereto. 

 EXHIBIT 4.2 

IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed and attested, all as of the date
first above written. 
  

					
	ESH HOSPITALITY, INC.
		
	By:	 	 /s/ John R. Dent

		 	Name:	 	John R. Dent
		 	Title:	 	General Counsel
	
	EXTENDED STAY LLC
		
	By:	 	 /s/ John R. Dent

		 	Name:	 	John R. Dent
		 	Title:	 	Vice President and Secretary
	
	CP ESH INVESTOR, LLC
		
	By:	 	 /s/ John R. Dent

		 	Name:	 	John R. Dent
		 	Title:	 	Vice President and Secretary

 [Signature Page to First Supplemental Indenture] 

 IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
  

					
	 DEUTSCHE BANK TRUST COMPANY

AMERICAS, as Trustee

	
	By: Deutsche Bank National Trust Company
		
	By:	 	 /s/ Irina Golovashchuk

		 	Name:	 	Irina Golovashchuk
		 	Title:	 	Vice President
		
	By:	 	 /s/ Chris Niesz

		 	Name:	 	Chris Niesz
		 	Title:	 	Assistant Vice President

 [Signature Page to First Supplemental Indenture]

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