Document:

Exhibit 10.1

 

SECOND AMENDMENT OF LEASE dated as of February   , 2016 by and between PARAMOUNT LEASEHOLD L.P., a New York limited partnership, having its office at 1501 Broadway, 19th Floor, New York, New York 10036 (“Landlord”), and TREMOR VIDEO, INC., a Delaware corporation having its office at 1501 Broadway, 8th Floor, New York, New York 10036 (“Tenant”).

 

W I T N E S S E T H:

 

WHEREAS, the parties entered into a Lease dated as of October 27, 2014 (the “Original Lease”) for the entire eighth floor in the building known as 1501 Broadway, New York, New York; and

 

WHEREAS, the Original Lease was amended by a First Amendment of Lease dated as of December 15, 2014 (the “First Amendment; the Original Lease and First Amendment are collectively referred to herein as the “Lease”); and

 

WHEREAS, the Lease provided for an extension of Tenant’s Free Rent Period if Landlord failed to substantially complete Landlord’s Post-Commencement Work within 90 days of the Commencement Date, which occurred on January 7, 2015; and

 

WHEREAS, Landlord did not substantially complete Landlord’s Post-Commencement Work by the date specified in the Lease; and

 

WHEREAS, the parties wish to amend the Lease so as to set forth their agreement with respect to the performance of Landlord’s Post-Commencement Work; and

 

WHEREAS, Landlord delivered the Additional Premises (as defined in Article 73 of the Original Lease) to Tenant, and the parties wish to confirm the terms of such delivery in accordance with the provisions of the Original Lease.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration and of the mutual agreements hereinafter set forth, it is hereby mutually agreed as follows:

 

1.                                      Defined terms.  Capitalized terms used herein shall have the same meaning ascribed to them in the Lease, except as may be set forth herein.

 

2.                                      Free Rent Period.  Tenant hereby waives the right to receive an extension of the Free Rent Period pursuant to Article 37(G) of the Lease on account of Landlord’s failure to substantially complete the Post-Commencement Work by the date specified in the Lease.

 

3.                                      Additional Work to be Performed by Landlord.  In exchange for Tenant’s agreement to waive an extension of the Free Rent Period, as set forth in Paragraph 2 above, Landlord shall perform the following additional work in the Demised Premises, and amend Landlord’s Additional Premises Work (as defined in Article 73 of the Lease), as follows:

 

[*****] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

 

1

 

a.                                      Additional Work:  Landlord shall take all necessary steps to diminish the sound and vibration emanating from a condenser water pump, which is being heard in Tenant’s conference room located in the Initial Premises.  Landlord shall commence this remedial work promptly after the condenser water pump is no longer in operation following the shut-down of the base Building air-conditioning system in the fall of 2015.  Landlord will undertake remedial action and diligently perform same to completion, including, if necessary, remounting or relocating the condenser water pump from its current location.  This remedial work will be performed during Non-Business Hours, at Landlord’s sole cost and expense.  Landlord shall restore any damage to the Demised Premises resulting from the performance of such work.

 

b.                                      Landlord’s Additional Premises Work:  Landlord’s Additional Premises Work, as specified in Article 73 of the Lease, is hereby revised as follows:

 

i.                                          Landlord shall provide the same window sill condition and finish work in the Additional Premises as were provided in the Initial Premises.

 

ii.                                       Tenant may designate the location for Tenant to install its supply and return ductwork for the air conditioning system in the Additional Premises.

 

iii.                                    While the Landlord is performing Landlord’s Additional Premises Work in the Additional Premises, Tenant will be allowed access to the Additional Premises.  The parties shall use commercially reasonable efforts to coordinate their work, and keep the other apprised of their respective work schedules, and perform their work in such a manner so as not to interfere with or delay the other’s performance of their Alterations.

 

iv.                                   Landlord will patch and repair the floors and ceilings, including within the existing mechanical equipment rooms which are being removed from the Additional Premises.

 

v.                                      Landlord will provide firestopping at all floor and ceiling penetrations in the Additional Premises, in accordance with New York City Building Code requirements.

 

vi.                                   Landlord will correct any water leaks and/or excessive pipe condensation in the Additional Premises.

 

vii.                                Landlord will patch the existing plaster/drywall of interior walls and columns located within the Additional Premises, as well as the interior surfaces of exterior walls (including the pipe chase soffits) and finish them from floor to ceiling to a mudded, smooth surface, ready for Tenant to prime and paint.

 

viii.                             Landlord will provide gypsum board furr-out of all interior structural columns within the Additional Premises from slab to slab. Existing columns which have already been enclosed will be patched, as necessary.  Any

 

[*****] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

 

2

 

other columns or pipes that must be enclosed will be furred-out and dry walled as tight to the structure as possible.

 

ix.                                   Landlord will install metal access panels at the wet columns within the Additional Premises.

 

x.                                      Landlord will remove all abandoned utility pipes within the Additional Premises.

 

xi.                                   Landlord will insulate all exposed existing steam pipes within the Additional Premises.

 

xii.                                Landlord will deliver the existing radiators in the Additional Premises in working order, with all control valves functioning properly.

 

xiii.                             Landlord to install building standard radiator covers ready for paint.

 

xiv.                            Tenant may run electrical conduits through the ceiling of the seventh floor located beneath the Additional Premises, with the same spacing and otherwise in the same manner as the electrical conduits were installed in the ceiling of the seventh floor beneath the Initial Premises. Tenant acknowledges that a portion of the seventh floor premises located beneath the Additional Premises is occupied by another tenant (the “Occupied Seventh Floor Premises”). Tenant shall perform the installation work in the Occupied Seventh Floor Premises during Non-Business Hours, and shall otherwise coordinate with the seventh floor tenant to perform the work in a manner which does not unreasonably interfere with such tenant’s use and occupancy of its premises.  Tenant shall be responsible for restoring any damage caused to the Occupied Seventh Floor Premises as a result of such work.

 

xv.                               Exhibit B (10) is modified with respect to the Additional Premises to delete the phrase “(excluding interior exposed brick walls)”.

 

xvi.                            Exhibit B (12) is modified with respect to the Additional Premises to delete the phrase “(other than the interior exposed brick wall)”.

 

xvii.                         Exhibit B (15) is modified with respect to the Additional Premises to read as follows:  “Provide electric capacity of six (6) watts demand load per rentable square foot of the Additional Premises (exclusive of the electricity required to operate the existing base building HVAC system installed by Tenant). Distribution of electricity within the Additional Premises shall be the Tenant’s responsibility.”

 

Tenant confirms that Landlord’s Additional Premises Work has been completed.

 

[*****] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

 

3

 

4.                                      Baseboard and Punchlist Items Reimbursement.  Landlord will reimburse Tenant $4,624.00 in connection with the installation of baseboards in the Premises.  In addition, Landlord will reimburse Tenant $4,840.43 in payment of two change orders issued by J.T. Magen & Company Inc. and dated January 11, 2016 (identified as Change Orders #14-0223-CO058 and 059), in connection with the completion of certain punch list items for Landlord’s Additional Premises Work. This reimbursement will be paid to Tenant within fifteen (15) days of the date of this Second Amendment.

 

5.                                      Elevator Lobby.  Landlord has agreed to install a new elevator lobby (the “Elevator Lobby Area”) in the eighth floor. As part of Tenant’s Initial Improvements, Tenant is installing ductwork in the ceiling above the area in which the Elevator Lobby Area is to be located.  In addition, Tenant has agreed to relocate, at Tenant’s expense, a fire alarm conduit which runs through the Elevator Lobby Area, to another location on the eighth floor.  Landlord shall substantially complete installation of the new Elevator Lobby Area within eight (8) weeks (which date may be extended for any period of a Force Majeure Event or Tenant Delay) after receipt of notice from Tenant that it has completed installation of the ductwork in the ceiling and relocated the fire alarm conduit.  Landlord will reimburse Tenant the sum of $4,593.03, which represents one-half of the cost of moving the fire alarm conduit as needed in order to complete installation of the Elevator Lobby Area.  Landlord will reimburse Tenant for this expenditure within fifteen (15) days of the date of this Second Amendment.

 

6.                                      Additional Premises Commencement Date.

 

a.                                      The last sentence of Article 73B shall be deleted, and replaced in its entirety with the following:  “If items 1-4, 7, 9-13, 14(i) and 15 on Landlord’s Work Letter annexed as Exhibit B (as same may have been modified by this Second Amendment) have not been substantially completed in the Additional Premises by October 1, 2015, and if items 5 and 8 on Landlord’s Work Letter annexed as Exhibit B has not been substantially completed by October 30, 2015, which dates shall be extended on a day-for-day basis for any period of a Force Majeure Event or Tenant Delay, then for each day that such items of work have not been substantially completed by the specified dates (as so extended by the occurrence of a Force Majeure Event or Tenant Delay), the Free Rent Period shall be extended on a day-for-day basis for the first thirty (30) days of such delay, and thereafter by two (2) days for each day of such delay.”

 

b.                                      By letter dated September 30, 2015, Landlord notified Tenant that the Additional Premises Commencement Date was deemed to be September 30, 2015.  At Tenant’s request, the parties agree that the Additional Premises Commencement Date shall be deemed to be October 1, 2015, and Landlord’s letter of September 30, 2015 is hereby withdrawn and shall be of no force or effect.

 

7.                                      Additional Premises Fixed Rent and Operating Expense Escalation.

 

a.                                      Effective as of the Additional Premises Commencement Date, but subject to Paragraph 7b below, Tenant shall pay Fixed Rent for the Additional Premises as follows:

 

[*****] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

 

4

 

	
PERIOD
    	
 
    	
ANNUAL FIXED RENT
    	
 
    	
MONTHLY RENT
    
	
10/1/15-1/6/20
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
1/7/20 — 1/31/25
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    

 

b.                                      The Additional Premises Rent Commencement Date is October 1, 2016 and Tenant shall have no obligation to pay any Fixed Rent with respect to the Additional Premises until such Additional Premises Rent Commencement Date.

 

c.                                       In accordance with the provisions of Article 40 of the Original Lease, Tenant shall pay a one percent (1%) increase in Fixed Rent for the Additional Premises, commencing on the first anniversary of the Additional Premises Rent Commencement Date, and continuing on each anniversary thereafter for the balance of the term of the Lease.  The increase will be compounded and cumulative. The Additional Premises Fixed Rent, as increased in accordance with the provisions of Article 40, is attached hereto as Exhibit C-1.

 

d.                                      Tenant shall continue to pay Fixed Rent and Operating Expense Escalation for the Original Premises in accordance with the terms of the Original Lease and Exhibit C annexed thereto.

 

8.                                      Assignment and Subletting.  Article 55G shall be deleted and replaced in its entirety with the following:

 

“G.                              Notwithstanding anything in this Lease to the contrary, during the first three (3) Lease Years following the Additional Premises Commencement Date, Tenant shall have the right, from time to time, to sublease up to one-third of the rentable area of the then- current Demised Premises, each for a term not exceeding six years (inclusive of any renewal options), without obtaining the prior consent of Landlord and without being subject to Landlord’s right of recapture or profit-sharing.  Such subleases shall otherwise be subject to all of the other terms and conditions of this Lease, including, without limitation, Article 11.”

 

9.                                      Signatures.  Copies of this signed Second Amendment sent by electronic means shall have the same effect as original signatures.  This Second Amendment may be signed in counterparts which, when taken together, shall constitute a single agreement.

 

10.                               Lease Ratified.  Except as specifically amended by this Second Amendment, all of the terms, conditions and provisions of the Lease are hereby ratified and confirmed and shall continue in full force and effect.

 

[End of text; signature page follows]

 

[*****] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

 

5

 

IN WITNESS WHEREOF, the parties have signed this Second Amendment as of the date set forth above.

 

 

 

	
 
    	
LANDLORD:
    
	
 
    	
PARAMOUNT LEASEHOLD, L.P.
    
	
 
    	
 
    
	
 
    	
By:
    	
Paramount Leasehold Management Corp.,
    
	
 
    	
 
    	
General Partner
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
Stanley Garber
    
	
 
    	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    
	
 
    	
-and-
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
Timothy G. DeCola
    
	
 
    	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    
	
 
    	
(two signatures required)
    
	
 
    	
 
    
	
 
    	
TENANT:
    
	
 
    	
TREMOR VIDEO, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
					

 

[*****] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

 

6

 

EXHIBIT C-1

 

FIXED RENT FOR ADDITIONAL PREMISES

 

WITH OPERATING EXPENSE ESCALATION

 

	
Period
    	
 
    	
Annual Fixed Rent*
    	
 
    	
Monthly Fixed Rent
    
	
10/1/15-9/30/17
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/17-9/30/18
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/18-9/30/19
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/19-1/6/20
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
1/7/20**-9/30/20
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/20-9/30/21
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/21-9/30/22
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/22-9/30/23
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/23-9/30/24
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    
	
10/1/24-1/31/25
    	
 
    	
$
    	
[*****]
    	
 
    	
$
    	
[*****]
    

 

* These numbers do not include escalations on account of increases in Real Estate Taxes

 

** Rent increases by $[*****]/rsf

 

[*****] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.Exhibit 10.1

 

EXECUTION COPY

 

 

FIRST AMENDMENT TO THE

RECEIVABLES FINANCING AGREEMENT

 

This FIRST AMENDMENT TO THE RECEIVABLES FINANCING AGREEMENT (this “Amendment”), dated as of December 4, 2015, is entered into by and among the following parties:

 

(i)                                  AROP FUNDING, LLC, as Borrower;

 

(ii)                              ALLIANCE COAL, LLC, as initial Servicer; and

 

(iii)                          PNC BANK, NATIONAL ASSOCIATION (“PNC”), as LC Bank, LC Participant, Lenders and Administrative Agent.

 

Capitalized terms used but not otherwise defined herein (including such terms used above) have the respective meanings assigned thereto in the Receivables Financing Agreement described below.

 

BACKGROUND

 

A.        The parties hereto have entered into a Receivables Financing Agreement, dated as of December 5, 2014 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Receivables Financing Agreement”).

 

B.        Concurrently herewith, the parties hereto are entering into an Amended and Restated Fee Letter (the “Fee Letter”).

 

C.        The parties hereto desire to amend the Receivables Financing Agreement as set forth herein.

 

NOW, THEREFORE, with the intention of being legally bound hereby, and in consideration of the mutual undertakings expressed herein, each party to this Amendment hereby agrees as follows:

 

SECTION 1.   Amendments to the Receivables Financing Agreement.  The Receivables Financing Agreement is hereby amended as follows:

 

(a)        The definition of “Scheduled Termination Date” set forth in Section 1.01 of the Receivables Financing Agreement is amended by replacing the date “December 4, 2015” where it appears therein with the date “December 2, 2016.”

 

(b)        The definition of “Excluded Receivable” set forth in Section 1.01 of the Receivables Financing Agreement is amended by inserting the phrase “or the sale or leasing of equipment (provided, that coal shall not constitute equipment for purposes of this definition)” immediately following the phrase “set forth on Schedule IV hereto” where it appears therein.

 

 

(c)        The definition of “LMIR” set forth Section 1.01 of the Receivables Financing Agreement is amended by inserting the phrase “the greater of (a) 0.00% and (b)” immediately following the phrase “means for any day during any Interest Period,” where it appears therein.

 

(d)       The definition of  “Adjusted LIBOR” set forth in Section 1.01 of the Receivables Financing Agreement is amended by inserting the phrase “the greater of (a) 0.00% and (b)” immediately following the phrase “means with respect to any Interest Period,” where it appears therein.

 

(e)        Section 7.01(l) of the Financing Agreement is hereby replaced in its entirety with the following:

 

(l)         Investment Company Act.  The Borrower (i) is not, and is not controlled by an “investment company” registered or required to be registered under the Investment Company Act and (ii) is not a “covered fund” under the Volcker Rule.  In determining that Borrower is not a “covered fund” under the Volcker Rule, Borrower is entitled to rely on the exemption from the definition of “investment company” set forth in Section 3(c)(5)(A) or (B) of the Investment Company Act.

 

(f)        Section 7.01 of the Receivables Financing Agreement is amended by adding the following new clause (z) thereto immediately following existing clause (y) thereof:

 

(z)        Liquidity Coverage Ratio.  The Borrower has not, does not and will not during the term of this Agreement (x) issue any obligations that (A) constitute asset-backed commercial paper, or (B) are securities required to be registered under the Securities Act of 1933 (the “33 Act”) or that may be offered for sale under Rule 144A or a similar exemption from registration under the 33 Act or the rules promulgated thereunder, or (y) issue any other debt obligations or equity interests other than equity interests issued to the Parent, the Subordinated Notes or debt obligations substantially similar to the obligations of the Borrower under this Agreement that are (A) issued to other banks or asset-backed commercial paper conduits in privately negotiated transactions, and (B) subject to transfer restrictions substantially similar to the transfer restrictions set forth in this Agreement.  The Borrower further represents and warrants that its assets and liabilities are consolidated with the assets and liabilities of Servicer for purposes of GAAP.

 

SECTION 2.   Representations and Warranties of the Borrower and Servicer.  The Borrower and the Servicer hereby represent and warrant to each of the parties hereto as of the date hereof as follows:

 

(a)        Representations and Warranties.  The representations and warranties made by it in the Receivables Financing Agreement and each of the other Transaction Documents it which it is a party are true and correct as of the date hereof.

 

2

 

(b)        Enforceability.  The execution and delivery by it of this Amendment, and the performance of its obligations under this Amendment, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are within its organizational powers and have been duly authorized by all necessary action on its part, and this Amendment, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are (assuming due authorization and execution by the other parties thereto) its valid and legally binding obligations, enforceable in accordance with its terms, except (x) the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws from time to time in effect relating to creditors’ rights, and (y) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought.

 

(c)        No Event of Default.  No Event of Default or Unmatured Event of Default has occurred and is continuing, or would occur as a result of this Amendment or the transactions contemplated hereby.

 

SECTION 3.   Effect of Amendment; Ratification.  All provisions of the Receivables Financing Agreement and the other Transaction Documents, as expressly amended and modified by this Amendment, shall remain in full force and effect.  After this Amendment becomes effective, all references in the Receivables Financing Agreement (or in any other Transaction Document) to “this Receivables Financing Agreement”, “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Receivables Financing Agreement shall be deemed to be references to the Receivables Financing Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Receivables Financing Agreement other than as set forth herein.  The Receivables Financing Agreement, as amended by this Amendment, is hereby ratified and confirmed in all respects.

 

SECTION 4.   Effectiveness.  This Amendment shall become effective as of the date hereof upon the Administrative Agent’s receipt of:

 

(a)        counterparts to this Amendment executed by each of the parties hereto; and

 

(b)        counterparts to the Fee Letter executed by each of the parties thereto and confirmation that the “Amendment Fee” owing thereunder has been paid in full.

 

SECTION 5.   Severability.  Any provisions of this Amendment which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

SECTION 6.   Transaction Document.  This Amendment shall be a Transaction Document for purposes of the Receivables Financing Agreement.

 

3

 

SECTION 7.   Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or e-mail transmission shall be effective as delivery of a manually executed counterpart hereof.

 

SECTION 8.   GOVERNING LAW AND JURISDICTION.

 

(a)        THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).

 

(b)        EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO (I) WITH RESPECT TO THE BORROWER AND THE SERVICER, THE EXCLUSIVE JURISDICTION, AND (II) WITH RESPECT TO EACH OF THE OTHER PARTIES HERETO, THE NON-EXCLUSIVE JURISDICTION, IN EACH CASE, OF ANY NEW YORK STATE OR FEDERAL COURT SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT, AND EACH PARTY HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING (I) IF BROUGHT BY THE BORROWER, THE SERVICER OR ANY AFFILIATE THEREOF, SHALL BE HEARD AND DETERMINED, AND (II) IF BROUGHT BY ANY OTHER PARTY TO THIS AMENDMENT, MAY BE HEARD AND DETERMINED, IN EACH CASE, IN SUCH NEW YORK STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT.  NOTHING IN THIS SECTION 8 SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY OTHER CREDIT PARTY TO BRING ANY ACTION OR PROCEEDING AGAINST THE BORROWER OR THE SERVICER OR ANY OF THEIR RESPECTIVE PROPERTY IN THE COURTS OF OTHER JURISDICTIONS.  EACH OF THE BORROWER AND THE SERVICER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING.  THE PARTIES HERETO AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

 

SECTION 9.   Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Receivables Financing Agreement or any provision hereof or thereof.

 

[SIGNATURE PAGES FOLLOW]

 

4

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their duly authorized officers as of the date first above written.

 

	
 
    	
AROP   FUNDING, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   R. Eberly Davis
    	
 
    
	
 
    	
Name:   R. Eberley Davis
    
	
 
    	
Title:   Senior Vice President, General Counsel and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ALLIANCE   COAL, LLC,
    
	
 
    	
as   the Servicer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   R. Eberly Davis
    	
 
    
	
 
    	
Name:   R. Eberley Davis
    
	
 
    	
Title:   Senior Vice President, General Counsel and Secretary
    

 

 

First Amendment to

Receivables Financing Agreement

 

S-1

 

	
 
    	
PNC   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Brown
    	
 
    
	
 
    	
Name:   Michael Brown
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PNC   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   LC Bank and as an LC Participant
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Brown
    	
 
    
	
 
    	
Name:   Michael Brown
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PNC   BANK, NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Brown
    	
 
    
	
 
    	
Name:   Michael Brown
    
	
 
    	
Title:   Senior Vice President
    

 

 

First Amendment to

Receivables Financing Agreement

 

S-2

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