SEC Contract Filing

Filing Date: 2019-12-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>g081900_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<html><head><title></title></head><body><p style="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt;"><b>&nbsp;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><b>Exhibit 10.1</b></p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0pt 0pt 0pt 0pt; text-decoration: none;"><font style="text-decoration: none;">THIRD AMENDMENT TO FOURTH AMENDED AND<br></font><u>RESTATED LOAN AND SECURITY AGREEMENT</u></p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 0pt 0pt 0pt;">THIRD AMENDMENT, dated as of December 10, 2019, to the Fourth Amended and Restated Loan and Security Agreement, dated as of October&nbsp;1, 2015, among HWC Wire&nbsp;&amp; Cable Company (&#8220;Borrower Agent&#8221;), PFI, LLC (as successor by merger to Vertex Corporate Holdings, Inc. and Vertex-PFI, Inc.) (&#8220;PFI, LLC&#8221; and together with Borrower Agent, individually a &#8220;Borrower&#8221; and collectively &#8220;Borrowers&#8221;), Houston Wire&nbsp;&amp; Cable Company (&#8220;Guarantor&#8221;), the lenders or lender named therein (&#8220;Lenders&#8221;) and Bank of America, N.A. (&#8220;Bank of America&#8221;), as agent for said Lenders (Bank of America, in such capacity, &#8220;Agent&#8221;).&nbsp; Said Fourth Amended and Restated Loan and Security Agreement, as amended by that certain First Amendment to Fourth Amended and Restated Loan and Security Agreement dated as of October 3, 2016, as amended by that certain Second Amendment to Fourth Amended and Restated Loan and Security Agreement dated as of March 12, 2019, as hereby amended and modified by this Third Amendment to Fourth Amended and Restated Loan and Security Agreement and as may be further amended and modified from time to time, is hereinafter referred to as the &#8220;Loan Agreement.&#8221;&nbsp; The terms used herein and not otherwise defined shall have the meanings attributed to them in the Loan Agreement.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 0pt 0pt 0pt;">WHEREAS, Lenders, Agent and Borrowers desire to make certain amendments and modifications to the Loan Agreement;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 0pt 0pt 0pt;">NOW THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained and contained in the Loan Agreement, the parties hereto hereby agree as follows:</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 0pt 0pt 0pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Amended and Additional Definitions</u>.&nbsp; The definitions of &#8220;Letter of Credit Subline,&#8221; &#8220;Third Amendment&#8221;, &#8220;Third Amendment Effective Date&#8221;, and &#8220;Trigger Period&#8221; are hereby amended or inserted into Section 1.1 of the Loan Agreement in appropriate alphabetical order, as the case may be.&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 36.0pt 0pt 36.0pt;"><u>Letter of Credit Subline</u>:&nbsp; $5,000,000.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 36.0pt 0pt 36.0pt;"><u>Third Amendment</u>:&nbsp; that certain Third Amendment to Fourth Amended and Restated Loan and Security Agreement dated as of December 10, 2019 by and among the Agent, Lenders and Borrowers and consented to by Guarantor.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 36.0pt 0pt 36.0pt;"><u>Third Amendment Effective Date</u>:&nbsp; as defined in Section&nbsp;8 of the Third Amendment.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 36.0pt 0pt 36.0pt;"><u>Trigger Period</u>:&nbsp; the period (a)&nbsp;commencing on the day that an Event of Default occurs, or Availability is less than the greater of $11,500,000 and ten percent (10%) of the Revolver Commitments at any time; and (b)&nbsp;continuing until, during the preceding 60 consecutive days, no Event of Default has existed and Availability has been greater than the greater of $11,500,000 and ten percent (10%) of the Revolver Commitments at all times; <u>provided</u>, <u>however</u>, that Trigger Periods shall not terminate more than twice within any Fiscal Year.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 36.0pt; margin: 0pt 0pt 0pt 0pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Increase to Revolver Commitment</u>.&nbsp; Schedule 1.1 to