SEC Contract Filing

Filing Date: 2017-08-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex103-q22017.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="sc99133085ab741ba853b35c1cc6ea960"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;"><img src="firstrepublicbank02.jpg" alt="firstrepublicbank02.jpg" style="height:96px;width:682px;"></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:32px;padding-top:32px;text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;text-decoration:underline;">THIRD-PARTY SECURITY AGREEMENT </font></div><div style="line-height:120%;padding-bottom:32px;padding-top:32px;text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">(Receivables)</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">This </font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">THIRD-PARTY</font><font style="font-family:Arial;font-size:9pt;">&#32;</font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">SECURITY AGREEMENT </font><font style="font-family:Arial;font-size:9pt;">(Receivables) (the "Agreement"), dated as of </font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">August 8, 2017</font><font style="font-family:Arial;font-size:9pt;">, is executed by and between </font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Greenhill Cogent, LP</font><font style="font-family:Arial;font-size:9pt;">, a Texas Limited Partnership ("Debtor"), and </font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">FIRST REPUBLIC BANK</font><font style="font-family:Arial;font-size:9pt;">&#32;("Lender"). </font></div><div style="line-height:120%;padding-bottom:8px;text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">B.</font><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:9pt;">Prior hereto, Greenhill &amp; Co., Inc. (&#8220;Borrower&#8221;) and First Republic Bank, a Nevada corporation, predecessor-in-interest to Lender entered into that certain Loan Agreement (Revolving Line of Credit ) dated January 31, 2006, as modified from time to time by written agreement (the "Revolving Loan Agreement") pursuant to which a loan in the current principal amount of</font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">&#32;Eighty Million and 00/100 Dollars ($80,000,000.00)</font><font style="font-family:Arial;font-size:9pt;">&#32;(as modified the "Revolving Loan") was made to Borrower.</font><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">C.</font><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:9pt;">Prior hereto Borrower and Lender also entered into a Renewal and Modification Agreement dated as of March 16, 2017 (&#8220;March 2017 Renewal and Modification Agreement&#8221;), pursuant to which, among other things, Lender increased the principal amount of the Revolving Loan to the principal sum of </font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Eighty Million and no/100ths Dollars ($80,000,000.00)</font><font style="font-family:Arial;font-size:9pt;">. The Revolving Loan is evidenced by Borrower's Ninth Amended and Restated Promissory Note dated March 8, 2016, as modified by the March 2017 Renewal and Modification Agreement (the "Revolving Note"). (The Revolving Loan Agreement,, the March 2017 Renewal and Modification Agreement, the Revolving Note, the Revolving Loan Security Agreement and all documents executed in connection therewith are referred to collectively as the "Revolving Loan Documents").</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">D.</font><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:9pt;">Concurrent herewith the Lender and Borrower are entering into a Modification Agreement dated as of August 8, 2017, pursuant to which, among other things, Lender agrees to increase the principal amount of the Revolving Loan to the principal sum of </font><font style="font-family:Arial;font-size:9pt;font-weight:bold;">Ninety Million and no/100ths Dollars ($90,000,000.00). </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;text-indent:48px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">E.</font><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:9pt;">The obligations of Borrower under the Revolving Loan are secured by a Security Agreement (Partnership Distributions) (&#8220;Revolving Loan Security Agreement&#8221;) dated as of March 16, 2017, executed by Borrower. </font></div><div style="line-height:120%;padding-bot