Document:

2013.07.31 10Q EXH10.2 (CGSIJoinderAgmt)

JOINDER AGREEMENT
THIS JOINDER IN CREDIT AGREEMENT, U.S. REVOLVING NOTES, U.S. SWINGWLINE NOTE, U.S. GUARANTY, U.S. SECURITY AGREEMENT and U.S.  PLEDGE AGREEMENT (this “Joinder”) is executed as of March 15, 2013 by CIENA GOVERNMENT SOLUTIONS, INC., a Delaware corporation (the “Joining Party”), and delivered to Deutsche Bank AG New York Branch, as Administrative Agent and as Collateral Agent, for the benefit of the Secured Creditors (as defined below).  Except as otherwise defined herein, terms used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein defined.
W I T N E S S E T H:
WHEREAS, Ciena Corporation (the “Company”), Ciena Communications, Inc. (together with the Company and each other Wholly-Owned Domestic Subsidiary of the Company that becomes a U.S. Borrower pursuant to the terms of the Credit Agreement, collectively, the “U.S. Borrowers”), Ciena Canada, Inc. (together with each other Wholly-Owned Canadian Subsidiary of the Company that becomes a Canadian Borrower pursuant to the terms of the Credit Agreement, collectively, the “Canadian Borrowers”; and the Canadian Borrowers, together with the U.S. Borrowers, collectively, the “Borrowers”), the various lenders from time to time party thereto (the “Lenders”), Deutsche Bank AG New York Branch, as Administrative Agent and as Collateral Agent, Bank of America, N.A., as Syndication Agent, and Morgan Stanley Senior Funding, Inc. and Wells Fargo Bank, National Association, as Co-Documentation Agents, have entered into an ABL Credit Agreement, dated as of August 13, 2012 (as amended by that certain First Amendment to Credit Agreement, dated as of August 24, 2012, and that certain Omnibus Second Amendment to Credit Agreement and First Amendment to U.S. Security Agreement, Canadian Security Agreement, U.S. Pledge Agreement, U.S. Guaranty and Canadian Guaranty, dated as of March 5, 2013, as the same may be further amended, modified or supplemented from time to time, the “Credit Agreement”), providing for the making of Loans to, and the issuance of Letters of Credit for the account of, the Borrowers as contemplated therein;
WHEREAS, the Joining Party is a Wholly-Owned Domestic Subsidiary of the Company and desires, or is required pursuant to the provisions of the Credit Agreement, to become a U.S. Borrower under the Credit Agreement, a Guarantor under the U.S. Guaranty, an Assignor under the U.S. Security Agreement, and a Pledgor under the U.S. Pledge Agreement; and
WHEREAS, the Joining Party will obtain benefits from (x) the incurrence of Loans by the Borrowers, and the issuance of, and participation in, Letters of Credit for the account of the Borrowers, in each case pursuant to the Credit Agreement and (y) the entering into Secured Hedging Agreements and Treasury Services Agreements (each as defined in the U.S. Security Agreement), and, accordingly, desires to execute this Joinder in order to (i) satisfy the requirements described in the preceding paragraph, (ii) induce the Lenders to make Loans to the Borrowers and issue, and/or participate in, Letters of Credit for the account of the Borrowers and (iii) induce the Secured Creditors to enter into Secured Hedging Agreements and Treasury Services Agreements;

	
			
	 
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NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to the Joining Party, the receipt and sufficiency of which are hereby acknowledged, the Joining Party hereby makes the following representations and warranties to the Secured Creditors and hereby covenants and agrees with each Secured Creditor as follows:
1.    By this Joinder, the Joining Party becomes (i) a U.S. Borrower for all purposes under the Credit Agreement, (ii) a U.S. Guarantor for all purposes under the U.S. Guaranty, pursuant to Section 23 thereof, (iii) an Assignor for all purposes under the U.S. Security Agreement, pursuant to Section 8.12 thereof and (iv) a Pledgor for all purposes under the U.S. Pledge Agreement, pursuant to Section 32 thereof.
2. The Joining Party agrees that, upon its execution hereof, it will become a U.S. Borrower under the Credit Agreement, and will be bound by all terms, conditions, obligations, liabilities and duties applicable to a U.S. Borrower under the Credit Agreement and the other Credit Documents (including each U.S. Revolving Note and the U.S. Swingline Note, whether or not such Joining Party actually signs a counterpart thereof).  Without limitation of the foregoing, and in furtherance thereof, the Joining Party agrees, on a joint and several basis with the other U.S. Borrowers, to irrevocably and unconditionally pay in full all of the Obligations of the U.S. Borrowers in accordance with the terms of the Credit Agreement and the other Credit Documents.
3.    The Joining Party agrees that, upon its execution hereof, it will become a U.S. Guarantor under the U.S. Guaranty with respect to all Guaranteed Obligations (as defined in the U.S. Guaranty), and will be bound by all terms, conditions, obligations, liabilities and duties applicable to a U.S. Guarantor under the U.S. Guaranty and the other Credit Documents.  Without limitation of the foregoing, and in furtherance thereof, the Joining Party absolutely, unconditionally and irrevocably, and jointly and severally, guarantees the due and punctual payment and performance when due of all Guaranteed Obligations (on the same basis as the other U.S. Guarantors under the U.S. Guaranty).
4.    The Joining Party agrees that, upon its execution hereof, it will become a Pledgor under, and as defined in, the U.S. Pledge Agreement, and will be bound by all terms, conditions, obligations, liabilities and duties applicable to a Pledgor under the U.S. Pledge Agreement.  Without limitation of the foregoing and in furtherance thereof, as security for the due and punctual payment when due of the Obligations (as defined in the U.S. Pledge Agreement), the Joining Party hereby pledges and assigns to the Collateral Agent for the benefit of the Secured Creditors and grants to the Collateral Agent for the benefit of the Secured Creditors a security interest in all its right, title and interest in, to and under the Pledge Agreement Collateral, if any, now owned or hereafter acquired by it, in each case to the extent provided in the U.S. Pledge Agreement.
5.    The Joining Party agrees that, upon its execution hereof, it will become an Assignor under, and as defined in, the U.S. Security Agreement, and will be bound by all terms, conditions, obligations, liabilities and duties applicable to an Assignor under the U.S. Security Agreement.  Without limitation of the foregoing and in furtherance thereof, as security for the due and punctual payment when due of the Obligations (as defined in the U.S. Security Agreement), the Joining Party hereby pledges and assigns to the Collateral Agent for the benefit of the Secured Creditors and 

	
			
	 
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grants to the Collateral Agent for the benefit of the Secured Creditors a security interest in all its right, title and interest in, to and under the Security Agreement Collateral, if any, now owned or hereafter acquired by it, in each case to the extent provided in the U.S. Security Agreement.
6.    In connection with the grant by the Joining Party, pursuant to paragraph 4 above, of a security interest in all of its right, title and interest in the Pledge Agreement Collateral in favor of the Collateral Agent, the Joining Party agrees to perform (to the extent required) for the benefit of the Secured Creditors, together with the delivery of this Joinder, each of the actions specified in Section 3.2 of the U.S. Pledge Agreement.
7.    The Joining Party hereby makes and undertakes, as the case may be, each covenant, representation and warranty made by, and as (i) each U.S. Borrower under the Credit Agreement,  (ii) each U.S. Guarantor pursuant to Section 9 of the U.S. Guaranty, (iii) each Assignor pursuant to Articles II, III and IV of the U.S. Security Agreement and (iv) each Pledgor pursuant to Section 18 of the U.S. Pledge Agreement, in each case as of the date hereof (except to the extent any such representation or warranty relates solely to an earlier date in which case such representation and warranty shall be true and correct in all material respects as of such earlier date), and agrees to be bound by all covenants, agreements and obligations of a U.S. Guarantor, an Assignor and a U.S. Pledgor pursuant to the U.S. Guaranty, U.S. Security Agreement and Pledge Agreement, respectively, and all other Credit Documents to which it is or becomes a party.
8.    Annexes A, B, C, D, E, F and G to the U.S. Pledge Agreement are hereby amended by supplementing such Annexes with the information for the Joining Party contained on Annexes A, B, C, D, E, F and G attached hereto as Annex I.  In addition, Annexes A, B, C and E to the U.S. Security Agreement are hereby amended by supplementing such Annexes with the information for the Joining Party contained on Annexes A, B, C and E attached hereto as Annex II.
9.    This Joinder shall be binding upon the parties hereto and their respective successors and assigns and shall inure to the benefit of and be enforceable by each of the parties hereto and its successors and assigns, provided, however, that the Joining Party may not assign any of its rights, obligations or interest hereunder or under any other Credit Document except as permitted by the Credit Documents.  THIS JOINDER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK (WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES).  This Joinder may be executed in any number of counterparts, each of which shall be an original, but all of which shall constitute one instrument.  In the event that any provision of this Joinder shall prove to be invalid or unenforceable, such provision shall be deemed to be severable from the other provisions of this Joinder which shall remain binding on all parties hereto.
10.    From and after the execution and delivery hereof by the parties hereto, this Joinder shall constitute a “Credit Document” for all purposes of the Credit Agreement and the other Credit Documents.
11.    Each of the representations and warranties set forth in the Credit Agreement and each other Credit Document and applicable to the undersigned is true and correct in all material respects, both before and after giving effect to this Joinder on the date hereof, except to the extent 

	
			
	 
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that any such representation and warranty relates solely to any earlier date, in which case such representation and warranty is true and correct in all material respects as of such earlier date (it being understood 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 the date hereof or as of such earlier date, as applicable).
12.    No Default or Event of Default has occurred or is continuing as of the date hereof, or will result from the transactions contemplated by this Joinder on the date hereof.
13.    The effective date of this Joinder is March 15, 2013.
*     *     *

	
			
	 
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IN WITNESS WHEREOF, the Joining Party has caused this Joinder to be duly executed as of the date first above written.

	
		
	c/o Ciena Corporation
7035 Ridge Road
	CIENA GOVERNMENT SOLUTIONS, INC.

	Hanover, Maryland 21076 
Attention:  Treasurer’s Office 
Facsimile: (410) 865-8901 

with a copy to:

7035 Ridge Road
Hanover, Maryland 21076
Attention:  General Counsel’s Office
Facsimile: (410) 865-8001
	

By:  \s\ Elizabeth Dolce
  Name: Elizabeth Dolce
  Title:  Vice President and Treasurer

Signature Page to Joinder Agreement 
Ciena Government Solutions, Inc. 
(March 2013)

	
	
	Accepted and Acknowledged by:
DEUTSCHE BANK AG NEW YORK BRANCH,
as Administrative Agent and as Collateral Agent

By:  \s\ Anca Trifan 
  Name:  Anca Trifan 
  Title:  Managing Director

By:  \s\ Marcus M. Tarkington 
        Name:  Marcus M. Tarkington 
        Title:  Director

Signature Page to Joinder Agreement 
Ciena Government Solutions, Inc. 
(March 2013)ex110form8k_9913.htm

[Letterhead of Centrus]

 

September 4, 2013

Mr. Doug Reynolds, President and CEO

Energy Services of America

100 Industrial Lane

Huntington, WV   25702

Re:           Engagement of Centrus Group, Inc. to Provide Professional Services

Dear Mr. Reynolds,

This letter confirms the terms and conditions of the engagement by Energy Services of America (“Client”) of Centrus Group, Inc. (“Centrus”).  The Client has engaged Centrus to provide professional services in connection with the Client’s efforts to implement a restructuring plan.  Centrus will provide services to the Client as its Financial Advisor (“FA”). This engagement will include Centrus’ monitoring and reviewing the Client’s progress. This engagement does not include written or verbal reports, analysis, evaluations or recommendations and is not a detailed verification
or analysis of facts.  Should the Company or its secured lenders desire a written report or analysis to be prepared for the Company, we will be glad to assist.

The scope of the work shall include the following:

	
1.  

	
Weekly review of all sources and uses of cash including deposits, disbursements and review of all expenditures including the review of the weekly Cash Flow Profroma Report, prior to the weekly Bank Meeting.

	
2.  

	
Review of the monthly financial report provided in a timely manner enabling the FA to review the prior month’s financial performance with the Board of Directors.

	
3.  

	
The FA, in consultation with the President, will be provided direct access to the Secured Creditors.  The FA has the authority to meet privately with the Secured Creditors; and with consultation with the President, otherwise provide information; the Secured Creditors may reasonably request reports, analysis or such other data as.

	
4.  

	
Communications with the Clients Board of Directors on a regular basis.

	
5.  

	
Attend weekly bank meeting.

	
6.  

	
Review all job bids over $5 million

	
7.  

	
Other advisory services as requested by the Client.

	
8.  

	
Communications with the Client to assure its awareness of all activities in which Centrus is involved.

Fees for our services will be based upon the actual number of hours incurred at hourly rates ranging from $275 (senior consultant) to $375 (senior partner) and will be billed weekly, together with out-of-pocket expenses incurred, payable within one week of receipt.  Hourly rates are subject to periodic adjustment.  Robert Cohen will be working on this account and will be billed at $375 an hour.  If necessary and approved by the Client, Centrus will draw on services of other Centrus members, agents and representatives as needed.  Any other services to be provided by Centrus outside of the scope of activities specifically identified above shall be provided based upon the
mutual agreement of both Centrus and the Client.

Centrus agrees to provide notice to the Client when Centrus has incurred fees and expenses totaling $5000.00 within a given month.  The CEO of the Client must approve any fees and expenses between $5000.00 and $10,000 within a given month.  Fees and expenses over $10,000.00 within a given month must receive the approval of the Secured Lender bank group and the Board of Directors of ESA.

  

  

  

Centrus shall maintain a $10,000.00 retainer, which will be applied against the final invoice provided to the Client.  Centrus is presently holding a $25,000.00 retainer from the Client, and will refund $15,000.00.  Furthermore, should this engagement with Centrus be expanded, with approval of the Board of Directors and the Bank Group to include securing alternative financing or assisting in the ultimate sale of the Company, Centrus will be compensated at the rate of 5% of the gross dollar amount of the total amount refinanced and/or gross sales price, in addition to the hourly billing rates noted above.

The professional services provided by Centrus are general in nature, are for the sole benefit and evaluation by the Client, and are only recommendations.  The Client or the Company always has the right to accept, reject or modify Centrus’ recommendations.  Any decisions based on Centrus’ recommendations remain solely those of the Client and/or the Company.  The Client acknowledges and represents it will make its own analysis, evaluation and determination based on its own experience, knowledge, facts, thoughts and considerations on any and all business matters even though it may consider Centrus’ recommendations when making decisions

It is agreed that all professional services will be performed on a confidential basis.  Any information that Centrus requests of the Client will be for the sole purpose of accomplishing the services as described above, and such information shall be used for no other purposes.  Such information will be held in confidence and not used, disclosed to others, or in any way used by Centrus for any purposes other than as specifically provided for by the terms of this engagement letter.  Centrus will restrict dissemination of any information provided or disclosed to us or to our employees, members, representatives and agents who have an actual need to know, and are informed by us of the
confidential nature of the information and the obligations herein.  All such information shall remain the sole property of the Client and Centrus shall obtain no right of any kind to any of the information.  Upon written notice, Centrus will promptly return all writing, records, documents and copies containing and/or referencing any of the confidential information.

The Client releases Centrus and its employees, members, agents, and representatives (including anybody working on the engagement and their respective corporate entities) from all liability to it or to any of its owners, shareholders, employees, agents, customers, clients or assigns.  This release includes any and all damages, claims, allegations, liabilities, costs or expenses (including attorney fees) arising out of or related to the services and consulting provided by Centrus and its employees, members, agents, and representatives (including anybody working on the engagement and their respective corporate entities.)  The Client further agrees to immediately defend, indemnify in full and hold
Centrus and its employees, members, agents, and representatives (including anybody working on the engagement and their respective corporate entities) harmless from any and all damages, claims, allegations, liabilities, costs or expenses (including attorney fees) asserted by the Client’s owners, shareholders, employees, agents, customers, clients and assigns or by any third party based upon any aspect of the consulting services or the business relationship between the Client, the Company and Centrus.  These release and indemnification provisions shall survive termination of this contract.  This contract shall be construed according to the laws of the State of Ohio and the venue for litigation of any disputes shall be state court in Cabell County, WV.

  

  

  

The release and indemnification provisions specifically include special, incidental, consequential, punitive or exemplary damages or indirect loss or damage, including lost profits or lost savings, whether or not such are foreseeable and whether or not Centrus, its employees, members, agents, or representatives has been advised of the possibility of such damages.  In short, the release and indemnification provisions are designed to provide the greatest release and indemnification permitted by law.  If the release and indemnification are unenforceable in any way, they shall be enforced to the maximum extent possible (“blue-penciled”) and liability limited to the amount of fees paid
to Centrus for services rendered to the Client.  Centrus shall not be liable for any actions of any kind taken by the Client or the Company or its management prior to the engagement of Centrus.

 

 

In the event of a dispute, each of the parties agrees to submit to binding arbitration to resolve any and all differences and disputes which may arise between them (and their heirs, successors, assigns, employees, officers, directors, affiliates, subsidiaries, shareholders, members, agents or representatives) related to this agreement, any other agreement between the parties, or otherwise arising between the parties.  If a party fails to submit to arbitration and it is necessary to compel arbitration, the party successfully compelling arbitration shall be entitled to recover attorneys’ fees.  Prior to initiating arbitration, the parties shall first meet face-to-face to affect a resolution
of the differences.  Any differences, which the parties are unable to resolve in said face-to-face meeting, shall be heard and finally settled in Cabell County, WV, or in any other location mutually agreed upon by the parties, by binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association.  Such arbitration shall be initiated in the office of the American Arbitration Association.  Any award entered in any such arbitration shall be final, binding and may be entered and enforced in any court of competent jurisdiction.

We know of no fact or situation that would represent a conflict of interest for us with regard to the Company.

This agreement is a full and complete agreement of the terms of the agreement between the parties. No other agreements or representations have been made by either of the parties. This agreement represents a termination of the November 28, 2012 agreement between the Client and Centrus.  This Agreement shall commence upon the execution of this document and shall continue through May 31, 2014.  The Agreement may be terminated by written notice by either party.

If you are in agreement with the foregoing terms of our engagement, please sign and date in acknowledgment in the space provided below and return via facsimile and via overnight mail one executed original of this letter.

We appreciate this opportunity to be of assistance and look forward to working with you in this matter.

  

  

  

	  
	
Sincerely yours:

	  
	
CENTRUS GROUP, INC.

	  
	
/s/ Robert L. Cohen

	  
	
Robert L. Cohen, Principal

	
Above Terms Agree to and Accepted:

	  
	
CLIENT COMPANY NAME

	  
	
By: /s/ Douglas Reynolds

	
Date:  9/5/13

	  
	
Name: Douglas Reynolds

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