Document:

FS Investment Corporation 8-K

 

Exhibit
10.1

 

 

EXECUTION COPY

 

 

TENTH AMENDMENT TO CREDIT AGREEMENT

THIS TENTH AMENDMENT
TO CREDIT AGREEMENT, dated as of December 15, 2015 (together with all exhibits and schedules hereto, this “Tenth Amendment”),
is entered into by and between BROAD STREET FUNDING LLC, a Delaware limited liability company (the “Borrower”),
and DEUTSCHE BANK AG, NEW YORK BRANCH (“DBNY”) as Administrative Agent (in such capacity, the “Administrative
Agent”) and as a lender (DBNY and each other Lender party to the Credit Agreement from time to time, the “Lenders”
and each a “Lender”). Capitalized terms used herein and not otherwise defined herein have the meanings assigned
to such terms in the Credit Agreement described below.

RECITALS:

A.

The Borrower and DBNY
are parties to a Credit Agreement dated as of March 10, 2010 by and among the Borrower and DBNY, as Administrative Agent and as
a Lender, as (i) amended pursuant to that First Amendment to Credit Agreement and to Security Agreement dated as of July 13, 2010,
(ii) further amended pursuant to that Second Amendment to Credit Agreement dated as of November 10, 2010, (iii) further amended
and restated pursuant to that Third Amendment to Credit Agreement dated as of January 28, 2011, (iv) further amended pursuant to
that Fourth Amendment to Credit Agreement dated as of March 23, 2012, (v) further amended pursuant to that Fifth Amendment to Credit
Agreement dated as of March 22, 2013, (vi) further amended pursuant to that Sixth Amendment to Credit Agreement dated as of December
20, 2013, (vii) further amended pursuant to that Seventh Amendment to Credit Agreement dated as of December 18, 2014, (viii) and
further amended pursuant to that Eighth Amendment to Credit Agreement dated as of April 8, 2015, and (ix) and further amended pursuant
to that Ninth Amendment to Credit Agreement dated as of May 14, 2015 (the credit agreement, as amended and amended and restated
prior to the date hereof, the “Credit Agreement” and, the Credit Agreement, as amended by this Tenth Amendment,
the “Amended Credit Agreement”).

B.

The parties hereto
desire, among other things, to amend the Credit Agreement so as to amend the Scheduled Commitment Termination Date.

NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

Section
1.

Amendment of Credit
Agreement. Effective as of the Tenth Amendment Closing Date (as defined below), the Credit Agreement is hereby amended as follows:

(a)

The following
definition in Annex I to the Credit Agreement is hereby replaced in its entirety with the following:

““Scheduled Commitment
Termination Date” means January 19, 2016.”

    	 

    	 

    

 

Section
2.

Conditions Precedent.
It shall be a condition precedent to the effectiveness of this Tenth Amendment that each of the following conditions are satisfied
(the first date when all such conditions have been satisfied, or waived by the Administrative Agent, the “Tenth Amendment
Closing Date”):

(a)

Agreements.
The Administrative Agent shall have received executed counterparts of this Tenth Amendment duly executed and delivered by an Authorized
Representative of the Borrower.

(b)

Evidence of
Authority. The Administrative Agent shall have received:

(1)

a certificate of an
Authorized Representative of the Borrower and a Responsible Officer (which could be the same person as the Authorized Representative),
dated the Tenth Amendment Closing Date, as to:

(i)

the authority of
the Borrower to execute and deliver this Tenth Amendment and to perform its obligations under the Amended Credit Agreement, the
Notes, and each other Credit Document executed by it, in each case as amended by this Tenth Amendment and each other instrument,
agreement or other document to be executed in connection with the transactions contemplated in connection herewith and therewith;

(ii)

the authority and
signatures of those Persons authorized on behalf of the Borrower to execute and deliver this Tenth Amendment and the other Credit
Documents to be executed and delivered in connection with this Tenth Amendment and to act with respect to this Tenth Amendment
and each other Credit Document executed or to be executed by the Borrower, upon which certificate each Lender, including each assignee
(whether or not it shall have then become a party hereto), may conclusively rely until it shall have received a further certificate
of the Borrower canceling or amending such prior certificates;

(iii)

the absence of any
changes in the Organic Documents of the Borrower since the copies delivered in connection with the closing of the Fourth Amendment
to Credit Agreement (other than replacement of independent managers or other managers under, and in accordance with, the LLC Agreement);
and

(iv)

such other instruments,
agreements or other documents (certified if requested) as the Administrative Agent may reasonably request.

    	2 

    	 

    

 

(c)

The Administrative
Agent shall have received a certificate of an Authorized Representative of the Borrower and a Responsible Officer (which could
be the same person as the Authorized Representative), in each case on behalf of the Borrower dated as of the Tenth Amendment Closing
Date, in form and substance reasonably satisfactory to the Administrative Agent (which shall be deemed to have been given under
the Credit Agreement), to the effect that, as of such date:

(1)

all conditions set
forth in this Section 2 (CONDITIONS PRECEDENT) have been fulfilled;

(2)

all representations
and warranties of the Borrower set forth in Article 5 of the Credit Agreement (REPRESENTATIONS AND WARRANTIES) are true and correct
in all material respects as if made on the Tenth Amendment Closing Date (unless expressly made as of a certain date, in which case
it shall be true and correct in all material respects as of such date);

(3)

all representations
and warranties set forth in each of the Collateral Documents are true and correct in all material respects as if made on the Tenth
Amendment Closing Date (unless expressly made as of a certain date, in which case it shall be true and correct in all material
respects as of such date); and

(4)

no Default or Event
of Default shall be continuing.

(d)

[Reserved].

(e)

[Reserved].

(f)

[Reserved].

(g)

Closing Fees,
Expenses, etc. The Administrative Agent shall have received for its own account, or for the account of the Lenders, as the
case may be, all fees, costs and expenses then due and payable to it under the Credit Agreement (including, without limitation,
the reasonable fees and disbursements of one counsel for the Administrative Agent incurred in connection with this Tenth Amendment).

(h)

After giving
effect to any requested Borrowing on the Tenth Amendment Closing Date (1) the aggregate principal amount of all Loans outstanding
will not exceed the Maximum Commitment and (2) the Overcollateralization Test is satisfied.

(i)

Satisfactory
Legal Form. All limited liability company and other actions or proceedings taken or required to be taken in connection with
the transactions contemplated hereby and all agreements, instruments, documents and opinions of counsel executed, submitted, or
delivered pursuant to or in connection with this Tenth Amendment by or on behalf of the Borrower shall be reasonably satisfactory
in form and substance to the Administrative Agent and its counsel; all certificates and opinions delivered pursuant to this Tenth
Amendment shall be addressed to the Administrative Agent and the Lenders, or the Administrative Agent and the Lenders shall be
expressly entitled to rely thereon; the Administrative Agent and its counsel shall have received all information, and such number
of counterpart originals or such certified or other copies of such information, as the Administrative Agent or its counsel may
reasonably request; and all legal matters incident to the transactions contemplated by this Tenth Amendment shall be reasonably
satisfactory to counsel to the Administrative Agent.

    	3 

    	 

    

 

Section
3.

Notices. From
and after the Tenth Amendment Effective Date, all notices and other communications provided for under the Credit Documents to the
Administrative Agent and Lender shall be sent to the following address:

Deutsche Bank Securities
Inc.

Attn: Kelly Carver
or Sarah Farrokh

5022 Gate Parkway,
Suite 400

Jacksonville, FL
32256

Facsimile:
(904) 527-6480

 

Section
4.

Miscellaneous.

(a)

GOVERNING
LAW. THIS TENTH AMENDMENT 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 WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES.

(b)

Amendments,
Etc. None of the terms of this Tenth Amendment may be changed, waived, discharged or terminated unless such change, waiver,
discharge or termination is in writing signed by the Borrower and the Administrative Agent (or other applicable party thereto as
the case may be), and each such waiver or consent shall be effective only in the specific instance and for the specific purpose
for which given.

(c)

Severability.
If any one or more of the covenants, agreements, provisions or terms of this Tenth Amendment shall be for any reason whatsoever
held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Tenth Amendment and shall in no way affect the validity or enforceability of the other provisions
of this Tenth Amendment.

(d)

Counterparts.
This Tenth Amendment may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered
shall be an original, but all such counterparts shall together constitute one and the same instrument.

(e)

Successors
and Assigns. All covenants and agreements contained herein shall be binding upon, and inure to the benefit of the parties hereto
and their respective successors and permitted assigns.

(f)

Captions.
The captions and section headings appearing herein are included solely for convenience of reference and are not intended to affect
the interpretation of any provision of this Tenth Amendment.

(g)

Entire Agreement.
This Tenth Amendment constitutes a final and complete integration of all prior expressions by the parties hereto with respect to
the subject matter hereof and shall (together with the Amended Credit Agreement and the Security Agreement) constitute the entire
agreement among the parties hereto with respect to the subject matter hereof, superseding all previous oral statements and other
writings with respect thereto.

[Signature pages follow]

 

    	4 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Tenth Amendment to be duly executed and delivered as of the day and year first above written.

 

	 	BORROWER
	 	 
	 	 
	 	BROAD STREET FUNDING LLC, 

as Borrower 
	 	 
	 	 
	 	By:	/s/ Gerald F. Stahlecker	 
	 	 	Name:   Gerald F. Stahlecker 
	 	 	Title:     Executive Vice President 
	 	 

 

    	 

    	 

    

 

	 	ADMINISTRATIVE AGENT:
	 	 
	 	DEUTSCHE BANK AG , NEW YORK BRANCH 
 as Administrative Agent
	 	 
	 	 
	 	By:	/s/ Ian R. Jackson	 
	 	 	Name:    Ian R. Jackson
	 	 	Title:      Director
	 	 
	 	By:	/s/ Satish Ramakrishna	 
	 	 	Name:    Satish Ramakrishna  
	 	 	Title:      Managing Director
	 	 

 

    	 

    	 

    

 

  

	 	DEUTSCHE BANK AG, NEW YORK BRANCH, 
 as Lender
	 	 
	 	 
	 	By:	/s/ Ian R. Jackson	 
	 	 	Name:    Ian R. Jackson
	 	 	Title:      Director
	 	 
	 	By:	/s/ David Dirvin	 
	 	 	Name:    David Dirvin
	 	 	Title:      Managing DirectorExhibit 4.1

 

Execution
Version 

 

OVERSEAS SHIPHOLDING GROUP, INC.,

as Issuer,

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee

__________________________________________

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of December 16, 2015

___________________________________________

 

 

 

81⁄8% Senior Notes Due 2018

 

 

     
 

     

    

 

FIRST SUPPLEMENTAL INDENTURE

 

THIS FIRST SUPPLEMENTAL INDENTURE, effective as of December
16, 2015 (this “First Supplemental Indenture”), is entered into between Overseas Shipholding Group, Inc., a
corporation duly organized and existing under the laws of the State of Delaware (the “Company”), having its
principal office at 1301 Avenue of the Americas, New York, New York 10019, and The Bank of New York Mellon Trust Company, N.A.,
as trustee (the “Trustee”).

 

WHEREAS, the Company and the Trustee have executed and delivered
an Indenture (the “Original Indenture”), dated as of March 29, 2010, that governs the Company’s existing
outstanding $300,000,000 aggregate principal amount of 81⁄8% Senior Notes Due 2018 (the “Notes”), of which
$61,849,000 in aggregate principal amount is held by the Company as of the date hereof;

 

WHEREAS, Section 9.02 of the Original Indenture provides, among
other things, that, with the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding
Securities, the Company, when authorized by a Board Resolution, and the Trustee may enter into a supplemental indenture for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Original Indenture or
of modifying in any manner the rights of the Holders under the Original Indenture, subject to those certain exceptions set forth
in Section 9.02 thereof;

 

WHEREAS, the Company distributed an offer to purchase and consent
solicitation statement (the “Statement”) dated as of December 2, 2015 to the Holders of the Notes in connection
with the offer to purchase for cash up to $119,076,000 in aggregate principal amount of the Notes and the concurrent solicitation
of such Holders’ consents to a proposed amendment to the Original Indenture (the “Tender Offer and Consent Solicitation”);

 

WHEREAS, consent by the Holders of not less than a majority
in aggregate principal amount of the Outstanding Notes is required to execute this First Supplemental Indenture;

 

WHEREAS, pursuant to the Statement, the Holders of not less
than a majority in aggregate principal amount of the Outstanding Notes have consented to the amendment to the Original Indenture
effected by this First Supplemental Indenture in accordance with the provisions of the Indenture, evidence of such consents has
been provided by the Company to the Trustee, and all other conditions precedent, if any, provided for in the Original Indenture
relating to the execution of this First Supplemental Indenture have been complied with as of the date hereof;

 

WHEREAS, pursuant to Section 9.02 of the Original Indenture,
the Trustee is authorized to execute and deliver this First Supplemental Indenture; and

 

WHEREAS, all acts and requirements necessary to make this First
Supplemental Indenture the legal, valid and binding obligation of the Company have been done.

 

NOW THEREFORE, in consideration of the foregoing and for other
good and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows:

 

    	 	1	 

     

    

 

ARTICLE ONE

 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION

 

Section 1.01.Relation to Original Indenture. This
First Supplemental Indenture constitutes an integral part of the Original Indenture.

 

Section 1.02Definition of Terms.

 

(a)Capitalized terms used herein without definition shall
have the meanings specified in the Original Indenture; and

 

(b) the following terms have the meanings given to them
in this Section 1.02(b):

 

“First Supplemental Indenture” has the meaning
set forth in the recitals to this First Supplemental Indenture.

 

“OBS” has the meaning set forth in Section
2.01 of this First Supplemental Indenture.

 

“OBS ABL Facility” means the ABL Credit Agreement
dated as of August 5, 2014, among the Company, OBS, certain subsidiaries of OBS as co-borrowers, the other guarantors party thereto,
various lenders, Jefferies Finance LLC, Barclays Bank PLC and UBS Securities LLC, as joint lead arrangers and joint book running
managers, Wells Fargo Bank, National Association, as administrative agent, Barclays Bank PLC and UBS Securities LLC, as co-documentation
agents, Jefferies Finance LLC, as syndication agent, and Wells Fargo Bank, National Association, as collateral agent and mortgage
trustee, swingline lender and issuing bank, as amended on June 3, 2015.

 

“OBS Term Loan Facility” means the DTL Credit
Agreement dated as of August 5, 2014, among the Company, OBS, the other guarantors party thereto, various lenders, Jefferies Finance
LLC, Barclays Bank PLC and UBS Securities LLC, as joint lead arrangers and joint book running managers, Jefferies Finance LLC,
as administrative agent, Barclays Bank PLC and UBS Securities LLC, as co-documentation agents, and Jefferies Finance LLC, as syndication
agent, collateral agent and mortgage trustee, as amended on June 3, 2015.

 

“OIN” has the meaning set forth in Section
2.01 of this First Supplemental Indenture.

 

“Original Indenture” has the meaning set
forth in the recitals to this First Supplemental Indenture.

 

ARTICLE TWO

 

AMENDMENTS TO THE INDENTURE

 

Section 2.01Amendment to Section 8.01 of the Original
Indenture. Section 8.01 of the Original Indenture is hereby amended to add the following underlined language to the middle
of clause (a)(ii): 

 

(a) The Company
may not, in a single transaction or a series of related transactions:

 

    	 	2	 

     

    

 

(i)           consolidate
or merge with or into any other Person (whether or not the Company is the surviving Person) or permit any other Person to consolidate
or merge with or into the Company, or

 

(ii)           directly
or indirectly transfer, sell, lease or otherwise dispose of all or substantially all of its assets, provided, however,
that for the purposes of this Section 8.01, neither OSG International, Inc., a Marshall Islands corporation that is a subsidiary
of the Company (“OIN”), nor (i) any or all of OIN’s assets or OIN’s subsidiaries’ assets, (ii) any
entity into which OIN or its subsidiaries may be merged or converted or with which they may be consolidated, (iii) any entity resulting
from any merger, conversion or consolidation to which OIN or its subsidiaries may be a party, or (iv) any entity, that is not currently
owned directly or indirectly by the Company, that acquires OIN or any or all of the assets of OIN or any of its subsidiaries’
assets (provided in each case that OIN and the assets and entities described in (i) through (iv) above, collectively, may include
assets directly or indirectly transferred from OSG Bulk Ships, Inc. (“OBS”) to OIN and such other entities only to
the extent that such transfers would, to the extent applicable to such transfer, be permitted under each of Sections 6.09 (Transactions
with Affiliates), 6.08 (Dividends) and 6.04 (Investments, Loans and Advances) of each of the OBS ABL Facility and the OBS Term
Loan Facility, each as in effect on the date hereof), constitutes “all or substantially all” of the Company’s
assets, unless,..

 

ARTICLE THREE

 

GENERAL PROVISIONS

 

Section 3.01.Effectiveness. The provisions of this
First Supplemental Indenture shall become effective immediately upon the execution and delivery by the Company and the Trustee
of this First Supplemental Indenture; however, Section 2.01 of this First Supplemental Indenture will not become operative until
amounts payable by the Company pursuant to the terms of the Tender Offer and Consent Solicitation have been paid.

 

Section 3.02.Ratification of Original Indenture.
The Original Indenture is in all respects acknowledged, ratified and confirmed, and shall continue in full force and effect in
accordance with the terms thereof and as supplemented by this First Supplemental Indenture. The Original Indenture and this First
Supplemental Indenture, shall be read, taken and construed as one and the same instrument.

 

Section 3.03.Effect of Headings. The Article and
Section headings in this First Supplemental Indenture are for convenience only and shall not affect the construction of this First
Supplemental Indenture.

 

Section 3.04.Governing Law. THIS FIRST SUPPLEMENTAL
INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

Section 3.05.Multiple Counterparts. This First Supplemental
Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument.

 

Section 3.06.Successors and Assigns. All agreements
of the Company in this First Supplemental Indenture shall bind its successors. All agreements of the Trustee in this First Supplemental
Indenture shall bind its successors.

 

Section 3.07.Trustee Not Responsible for Recitals.
The recitals in this First Supplemental Indenture are made by the Company, and the Trustee assumes no responsibility for the correctness
of such recitals, nor for the validity or sufficiency of this First Supplemental Indenture.

 

 

[Remainder of Page Left Blank Intentionally;
Signature Page Follows]

  

 

    	 	3	 

     

    

 

IN WITNESS WHEREOF, the parties to this
First Supplemental Indenture have caused the First Supplemental Indenture to be duly executed as of day and year first above written.

 

	 	OVERSEAS SHIPHOLDING GROUP, INC.	 
	 	 	 	 
	 	 	 	 
	 	By 	/s/ Rick F. Oricchio	 
		Name:	Rick F. Oricchio	 
	 	Title: 	Senior Vice President, Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,	 
	 	 	 	 
	 	as Trustee	 
	 	 	 	 
	 	 	 	 
	 	By 	/s/ R. Tarnas	 
	 	Name:	R. Tarnas	 
	 	Title:	Vice President	 

 

 

    	 	4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}]]