SEC Contract Filing

Filing Date: 2016-08-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>bw-6302016xex101.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="s4BE3D861691BC605022209DA2F97814A"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.1</font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">June 10, 2016</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Babcock &amp; Wilcox Enterprises Inc.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Harris Building </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">13024 Ballantyne Corporate Place, Suite 700 </font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Charlotte, North Carolina 28277</font></div><table cellpadding="0" cellspacing="0" style="padding-top:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:11pt;padding-left:48px;"><font style="font-family:inherit;font-size:11pt;">Re:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Amendment No. 1 to the Credit Agreement (this &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:11pt;">&#8221;)</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Ladies and Gentleman:</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Reference is hereby made to that certain Credit Agreement entered into as of May 11, 2015, among BABCOCK &amp; WILCOX ENTERPRISES, INC., a Delaware corporation, as the borrower hereunder (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221;), each lender from time to time party hereto (collectively, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Lenders</font><font style="font-family:inherit;font-size:11pt;">&#8221; and individually, a &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Lender</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer. Capitalized terms used herein but otherwise not defined herein shall have the meanings provided to such terms in the Credit Agreement.</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Borrower has requested that the Administrative Agent and the Lenders agree to certain amendments to the Credit Agreement as more fully set forth herein. The Administrative Agent and the Lenders identified on the signature pages hereto have approved the requested amendments on the terms and conditions set forth in this Amendment.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Accordingly, the parties hereto agree that, effective as of the date hereof, the Credit Agreement is hereby amended as follows:</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"></font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section 7.09</font><font style="font-family:inherit;font-size:11pt;">&#32;of the Credit Agreement is hereby amended and restated to read in its entirety as follows:</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:48px;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:11pt;">&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">7.09&#160;&#160;&#160;&#160;Burdensome Agreements.</font><font style="font-family:inherit;font-size:11pt;">&#32;&#32;The Borrower shall not, and shall not permit any of its Subsidiaries to, (a) other than for any Subsidiary that is not a Wholly-Owned Subsidiary, agree to enter into or suffer to exist