SEC Contract Filing

Filing Date: 2022-08-19

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>CONSENT, WAIVER AND TENTH AMENDMENT TO THE AMENDED AND RESTATED CREDIT AGREEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-transform: none; text-align: left"><A HREF="cvua-8k_081922.htm">CPI Aerostructures, Inc. 8-K</A></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: none; text-align: right">Exhibit 10.1</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><U>CONSENT,
WAIVER AND TENTH AMENDMENT<BR>
TO AMENDED AND RESTATED CREDIT AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>CONSENT, WAIVER AND
TENTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT </B>(this &#8220;<B>Amendment</B>&#8221;) entered into as of August 17, 2022
by and among CPI AEROSTRUCTURES, INC. (the &#8220;<B>Borrower</B>&#8221;), BANKUNITED, N.A., a national banking association, as Sole Arranger,
Agent and a Lender, DIME COMMUNITY BANK, a New York banking corporation, as a Lender, and the other financial institutions from time to
time parties thereto as lenders (collectively, the &#8220;<B>Lenders</B>&#8221; and each a &#8220;<B>Lender</B>&#8221;), and BANKUNITED,
N.A., a national banking association, as administrative agent and collateral agent for the Lenders thereunder (in such capacities, the
&#8220;<B>Administrative Agent</B>&#8221; and the &#8220;<B>Collateral Agent</B>,&#8221; respectively and each an &#8220;<B>Agent</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Borrower,
the Agent and each Lender are parties to that Amended and Restated Credit Agreement dated as of March 24, 2016, as amended by that First
Amendment and Waiver to Amended and Restated Credit Agreement dated as of May 9, 2016, as further amended by that Second Amendment to
Amended and Restated Credit Agreement dated as of July 13, 2017, as further amended by that Third Amendment and Waiver to Amended and
Restated Credit Agreement dated as of August 15, 2018, as further amended by that Fourth Amendment dated as of December 20, 2018, as further
amended by that Fifth Amendment to Amended and Restated Credit Agreement dated as of June 25, 2019, as further amended by that Sixth Amendment
and Waiver to Amended and Restated Credit Agreement dated as of August 24, 2020 (the &#8220;<B>Sixth Amendment</B>&#8221;), as further
amended by that Consent, Waiver and Seventh Amendment to Amended and Restated Credit Agreement dated as of May 11, 2021, as further amended
by that Waiver and Eighth Amendment to Amended and Restated Credit Agreement dated as of October 28, 2021 (the &#8220;<B>Eighth Amendment</B>&#8221;),
and as further amended by that Consent, Waiver and Ninth Amendment to Amended and Restated Credit Agreement (collectively, the &#8220;<B>Agreement</B>&#8221;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Borrower
has requested that the Agent and each Lender (i) amend the Agreement to increase the maximum Leverage Ratio applicable for the third quarter
of the fiscal year ending December 31, 2022, and (ii) consent to and waive certain covenant non-compliance under the Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Agent
and each Lender are willing to accede to such request to (i) amend the Leverage Ratio for the third quarter of the fiscal year ending
December 31, 2022, and (ii) grant the requested consents and waivers, subject to the terms and conditions hereinafter set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the premises and the agreements hereinafter set forth and for other good and valuable consideration, the parties hereto
hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All capitalized terms used herein, unless otherwise defined herein, have the same meanings provided therefor in the Agreement.
This Amendment constitutes a Loan Document.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> Subject to the terms and conditions hereof, the Agreement is hereby amended as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Section 7.1(b) of the Agreement (Maximum Leverage Ratio) is amended by deleting same and substitutin