SEC Contract Filing

Filing Date: 2021-04-30

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>aos-20210331xex101.htm
<DESCRIPTION>EX-10.1
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<DIV><FONT size="1" style="font-size:1pt;color:white">Exhibit 10.1 US-DOCS\121756134.5 EXECUTION COPY AMENDMENT NO. 2 dated as of April 1, 2021 to CREDIT AGREEMENT Dated as of December 12, 2012 THIS AMENDMENT NO. 2 (&#8220;Amendment&#8221;) is made as of April 1, 2021 (the &#8220;Effective Date&#8221;) by and among A.O. Smith Corporation (the &#8220;Company&#8221;), the Subsidiaries thereof identified on the signature pages hereto (together with the Company, the &#8220;Borrowers&#8221;), the lenders listed on the signature pages hereof (the &#8220;Lenders&#8221;) and U.S. Bank National Association (&#8220;U.S. Bank&#8221;), as administrative agent (the &#8220;Administrative Agent&#8221;), under that certain Amended and Restated Credit Agreement dated as of December 12, 2012 by and among the Borrowers, the Lenders and the Administrative Agent (as amended, supplemented or otherwise modified from time to time prior to the Effective Date, the &#8220;Credit Agreement&#8221;). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. WHEREAS, the Borrowers have requested that the Lenders and the Administrative Agent agree to make certain modifications to the Credit Agreement; and WHEREAS, the Borrowers, the Lenders and the Administrative Agent have so agreed on the terms and conditions set forth herein; NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders and the Administrative Agent hereby agree as follows. 1. Amendments to the Credit Agreement. Effective as of the Effective Date, but subject to the satisfaction of the conditions precedent set forth in Section 2 below, the Credit Agreement is hereby amended as follows: (a) The Credit Agreement is hereby amended in its entirety to read as set forth in Annex A hereto. (b) The Exhibits to the Credit Agreement are hereby amended in their entirety to read as set forth in the corresponding Exhibits attached hereto as part of Annex A. (c) The Schedules to the Credit Agreement are hereby amended in their entirety to read as set forth in the corresponding Schedules attached hereto as Annex A. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">2 2. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the following conditions precedent: (a) the Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrowers, the Lenders, and the Administrative Agent; (b) the Administrative Agent shall have received the documents identified in the list of closing documents attached hereto as Annex B; (c) (i) The Administrative Agent shall have received, at least five (5) days prior to the Effective Date, all documentation and other information regarding the Borrowers requested by a Lender or the Administrative Agent that is required by applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the Patriot Act, to the extent requested in writing of the Company at least ten (10) days prior to the Effective Date and (ii) to the extent any Borrower qualifies as a &#8220;legal entity customer&#8221; under the Beneficial Ownership Regulation, at least five (5) days prior to the Effective Date, any Lender that has requested, in a written notice to the Company at least ten (10) days prior to the Effective Date, a Beneficial Ownership Certification in relation to such Borrower shall have received such Beneficial Ownership Certification (provided that, upon the execution and delivery by such Lender of its signature page to this Amendment, the condition set forth in this clause (c) shall be deemed to be satisfied); and (d) the Administrative Agent shall have received all fees and amounts due and payable on or prior to the Effective Date, including, to the extent invoiced no less than one (1) Business Day prior to the Effective Date, reimbursement or payment of all reasonable out-of- pocket expenses required to be reimbursed or paid by the Borrowers. 3. Representations and Warranties of each Borrower. Each Borrower hereby represents and warrants as follows: (a) This Amendment and the Credit Agreement, as amended hereby, constitute legal, valid and binding obligations of such Borrower and are enforceable against such Borrower in accordance with their terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors&#8217; rights generally or by equitable principles relating to enforceability. (b) As of the date hereof and after giving effect to the terms of this Amendment, (i) no Event of Default or Unmatured Event of Default exists and (ii) the representations and warranties of such Borrower set forth in Section 5 the Credit Agreement, as amended hereby, are true and correct in all material respects (except to the extent any such representation and warranty itself is qualified by &#8220;materiality&#8221;, &#8220;Material Adverse Effect&#8221; or similar qualifier, in which case, it is true and correct in all respects), except to the extent such representations and warranties expressly