Document:

Exhibit 10.3

 

August 7, 2018

 

Hudson Technologies Company

14th Floor

One Blue Hill Plaza

P.O. Box 1541

Pearl River, New York
10965

Attention: Brian F. Coleman,
President, COO

 

Extension Letter

 

We refer to that certain
Term Loan Credit and Security Agreement, dated as of October 10, 2017 (as amended by that Limited Waiver and First Amendment to
Term Loan Credit and Security Agreement and Certain Other Documents, dated as of June 29, 2018 (as modified by that certain Extension
Letter, dated as of July 31, 2017, the “First Amendment”), and as may be further amended, restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), by and among Hudson
Technologies Company, a Tennessee corporation (“Hudson Technologies”), HUDSON HOLDINGS, INC.,
a Nevada corporation (“Holdings”), and ASPEN REFRIGERANTS, INC. (formerly known as AIRGAS-REFRIGERANTS,
INC.), a Delaware corporation (“ARI” and together with Hudson Technologies, and Holdings, collectively,
the “Borrowers”, and each a “Borrower”), the other Credit Parties hereto, the financial institutions
party thereto as lenders (the “Lenders”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association,
as collateral agent and administrative agent for the Lenders (in such capacities, the “Agent”). Capitalized
terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement or the Amendment,
as applicable.

 

At the request of the
Borrowers, Agent and Lenders have agreed that the date for compliance with the Total Leverage Ratio covenant set forth in Section
1.1 of the First Amendment shall be extended to August 14, 2018. Accordingly, effective as of the date hereof, Borrowers, Agent,
and Lenders agree that the text “August 7, 2018” in Section 1.1 of the First Amendment is hereby replaced with the
text “August 14, 2018”.

 

Except as expressly
provided herein, the Credit Agreement and each Other Document shall continue in full force and effect, and the extension set forth
above is limited solely to the matters stated above and shall not be deemed to be a waiver or amendment of any other provision
of the Credit Agreement or any Other Document. Without limiting the foregoing, the Administrative Agent and the Lenders expressly
reserve all of their rights, powers, privileges and remedies under the Credit Agreement, the other Documents and applicable law.
This letter agreement shall constitute an Other Document under the terms of the Credit Agreement. The governing law, jurisdiction,
service of process and waiver of jury trial provisions set forth in Sections 14.1 and 11.8 of the Credit Agreement are hereby incorporated
by reference, mutatis mutandis. This letter agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns. The Credit Agreement (as modified by this letter agreement) and the Other Documents
embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if
any, relating to the subject matter hereof. This letter agreement may be executed and delivered via facsimile or email (in .pdf
format) transmission with the same force and effect as if an original were executed, and may be executed in original counterparts
each of which counterpart shall be deemed an original document but all of which counterparts together shall constitute one and
the same agreement.

 

    

     

    

 

By their execution
hereof, Lenders hereby instruct and direct Agent to execute this letter agreement.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

 

    

     

    

 

	 	Very truly yours,
	 	 
	 	AGENT:
	 	 
	 	U.S. BANK NATIONAL ASSOCIATION, 
	 	as Agent
	 	 
	 	 
	 	By:   /s/ Lisa Dowd                                              
	 	Name: Lisa Dowd
	 	Title: Vice President

 

 

		cc:	Wiggin and Dana LLP

Two Stamford Plaza

281 Tresser Boulevard

Stamford, Connecticut
06901

Attention: Michael
Grundei, Esq.

 

 

    Signature Page to Extension Letter – Hudson Technologies

     

    

 

	 	LENDERS:
	 	 
	 	FS INVESTMENT CORPORATION
	 	By:  /s/ Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	FS INVESTMENT CORPORATION II
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	FS INVESTMENT CORPORATION III
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	FS INVESTMENT CORPORATION IV
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	HAMILTON STREET FUNDING LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	GREEN CREEK LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	JUNIATA RIVER LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory
	 	 
	 	JEFFERSON SQUARE FUNDING LLC
	 	By:  /s/
Philip S. Davidson                                 
	 	Name: Philip S. Davidson
	 	Title: Authorized Signatory

 

 

    Signature Page to Extension Letter – Hudson Technologies

     

    

 

Acknowledged and agreed:

 

 

BORROWERS:

 

HUDSON TECHNOLOGIES COMPANY

 

 

By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President

 

HUDSON HOLDINGS, INC.

 

 

By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President

 

ASPEN REFRIGERANTS, INC.

 

 

By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President

 

 

GUARANTOR:

 

HUDSON TECHNOLOGIES, INC.

 

 

By:  /s/ Brian Coleman                                        

Name: Brian Coleman

Title: President

 

 

    Signature Page to Extension Letter – Hudson TechnologiesExhibit

EXECUTION COPY
AMENDMENT NO. 4
TO
SERIES 2012-VFN INDENTURE SUPPLEMENT
THIS AMENDMENT NO. 4 TO SERIES 2012-VFN INDENTURE SUPPLEMENT (this “Amendment”) is made as of November 28, 2018, by and between Navistar Financial Dealer Note Master Owner Trust II, a Delaware statutory trust (the “Issuing Entity”), and Citibank, N.A., a national banking association, as indenture trustee (the “Indenture Trustee”).
The Issuing Entity and the Indenture Trustee are parties to the Indenture, dated as of November 2, 2011, as amended by Amendment No. 1, dated as of February 13, 2013 (as amended, the “Indenture”), and the related Series 2012-VFN Indenture Supplement, dated as of August 29, 2012, as amended by Amendment No. 1, dated as of September 13, 2013, by Amendment No. 2, dated as of January 26, 2015, and by Amendment No. 3, dated as of May 31, 2017  (as amended, the “Series 2012-VFN Indenture Supplement”).  The Issuing Entity and the Indenture Trustee have agreed to amend the 2012-VFN Indenture Supplement pursuant to Section 10.02 of the Indenture in the manner set forth herein.  Capitalized terms used herein but not otherwise defined have the meanings set forth in the Series 2012-VFN Indenture Supplement.
		
	1.
	Amendments. Section 1.01 of the Series 2012-VFN Indenture Supplement is hereby amended by deleting the definition of Series 2012-VFN Subordinated Seller’s Interest Factor and replacing in with the following:

“Series 2012-VFN Subordinated Seller’s Interest Factor” means 23.50%.
		
	2.
	Miscellaneous.  As amended by this Amendment, the Series 2012-VFN Indenture Supplement is in all respects ratified and confirmed and the Series 2012-VFN Indenture Supplement as so amended by this Amendment shall be read, taken and construed as one and the same instrument.  This Amendment may be executed in two or more counterparts (and by different parties on separate counterparts), each of which shall be an original, but all of which together shall constitute one and the same instrument.  This Amendment shall be governed by and construed in accordance with the internal laws of the State of New York, without reference to the conflict of law provisions thereof or any other jurisdiction, other than Section 5-1401 and Section 5-1402 of the New York General Obligations Law, and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.

		
	3.
	Limitation of Owner Trustee Liability.  Notwithstanding anything to the contrary, this Amendment has been signed by Deutsche Bank Trust Company Delaware, not in its individual capacity but solely in its capacity as Owner Trustee on behalf of the Issuing Entity.  Each of the representations, undertakings and agreements herein made on the part of the Issuing Entity is made and intended not as a personal representation, undertaking or agreement by Deutsche Bank Trust Company Delaware, but is made for the purpose of binding only the Issuing Entity. In no event shall Deutsche Bank Trust Company Delaware have any personal liability for the representations, warranties, covenants, agreement or other obligations of the Issuing Entity hereunder or in any Notes, certificates, notices or agreements delivered pursuant hereto, as to all of which recourse shall be had solely to the assets of the Issuing Entity.  

		
	4.
	Rights of the Indenture Trustee.  The Indenture Trustee shall be afforded the same rights, protections, immunities and indemnities as are set forth in the Indenture as if specifically set forth herein.  The Indenture Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Amendment and is not responsible for any statement made herein.  The Administrator hereby certifies that all of the conditions precedent for the making of this Amendment have been complied with.

[signatures on next page]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 4 to Series 2012-VFN Indenture Supplement to be duly executed by their respective officers as of the date first written above.
	
			
	NAVISTAR FINANCIAL DEALER NOTE MASTER OWNER TRUST II, 

	as Issuing Entity

	By:
	DEUTSCHE BANK TRUST COMPANY DELAWARE, as Owner Trustee and not in its individual capacity

	 

	 

	By:
	/s/ Susan Barstock

	Name:
	Susan Barstock

	Title:
	Attorney-in-fact

	 

	 

	By:
	/s/ Robin Durant

	Name:
	Robin Durant

	Title:
	Attorney-in-fact

	 

	 

	CITIBANK, N.A., as Indenture Trustee and not in its individual capacity

	 

	 

	By:
	/s/ Cirino Emanuele

	Name:
	Cirino Emanuele

	Title:
	Senior Trust Officer

The undersigned hereby (a) acknowledge that Bank of America, National Association, New York Life Insurance Company and New York Life Insurance and Annuity Corporation, in their respective capacities as Managing Agents, own 100% of the Series 2012-VFN Notes and that Bank of America, National Association, New York Life Insurance Company and New York Life Insurance and Annuity Corporation are the Managing Agents under the Note Purchase Agreement, (b) acknowledge receipt of notice of this Amendment No. 4 to Series 2012-VFN Indenture Supplement and (c) consent to the execution thereof:

	
			
	BANK OF AMERICA, NATIONAL ASSOCIATION,

	as Administrative Agent

	 

	 

	By:
	/s/ Carl W. Anderson

	Name:
	Carl W. Anderson

	Title:
	Managing Director

	 

	 

	BANK OF AMERICA, NATIONAL ASSOCIATION,

	as the Managing Agent

	for the Bank of America Purchaser Group

	 
	 

	 
	 

	By:
	/s/ Carl W. Anderson

	Name:
	Carl W. Anderson

	Title:
	Managing Director

	 

	 

	BANK OF AMERICA, NATIONAL ASSOCIATION,

	as the Committed Purchaser

	for the Bank of America Purchaser Group

	 

	 

	By:
	/s/ Carl W. Anderson

	Name:
	Carl W. Anderson

	Title:
	Managing Director

	
			
	NEW YORK LIFE INSURANCE COMPANY, 

	as the Managing Agent for the NY Life Purchaser Group

	 

	 

	By:
	/s/ Scott R. Seewald

	Name:
	Scott R. Seewald

	Title:
	Vice President

	 

	 

	NEW YORK LIFE INSURANCE COMPANY, 

	as the Committed Purchaser for the NY Life Purchaser Group

	 
	 

	 
	 

	By:
	/s/ Scott R. Seewald

	Name:
	Scott R. Seewald

	Title:
	Managing Director

	
			
	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION,

	as the Managing Agent for the NYLIAC Purchaser Group

	 

	By: NYL INVESTORS LLC, 

	its Investment Manager

	 

	 

	By:
	/s/ Scott R. Seewald

	Name:
	Scott R. Seewald

	Title:
	Managing Director

	 

	 

	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION,

	as the Committed Purchaser for the NYLIAC Purchaser Group

	 
	 

	By: NYL INVESTORS LLC, 

	its Investment Manager

	 
	 

	 
	 

	By:
	/s/ Scott R. Seewald

	Name:
	Scott R. Seewald

	Title:
	Managing Director

With respect to Section 4 of this Amendment, agreed to by:
	
			
	NAVISTAR FINANCIAL CORPORATION,

	as Administrator

	 

	By:
	/s/ Petrina Rauzi

	Name:
	Petrina Rauzi

	Title:
	Vice President and Treasurer

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