SEC Contract Filing

Filing Date: 2020-02-14

Document Content:
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<TYPE>EX-10.5
<SEQUENCE>7
<FILENAME>d793154dex105.htm
<DESCRIPTION>EX-10.5
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<TITLE>EX-10.5</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.5 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO. 1 TO FIRST LIEN TERM LOAN CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">This AMENDMENT NO. 1 (this &#147;<U>Amendment</U>&#148;) dated as of June&nbsp;12, 2017 to the First Lien Term Loan Credit Agreement dated as
of October&nbsp;20, 2016 (as amended, supplemented or otherwise modified prior to the Amendment Effective Date (as defined below)) (the &#147;<U>Credit Agreement</U>&#148;), among SHAY INTERMEDIATE HOLDING II CORPORATION
(&#147;<U>Holdings</U>&#148;), PAE HOLDING CORPORATION (the &#147;<U>Lead Borrower</U>&#148;), the Subsidiary Borrowers party thereto (the &#147;<U>Subsidiary Borrowers</U>&#148; and together with the Lead Borrower, the
&#147;<U>Borrowers</U>&#148;), the Lenders party thereto from time to time and Bank of America, N.A., as the Administrative Agent (the &#147;<U>Administrative Agent</U>&#148;), is entered into and among Holdings, the Borrowers, the Subsidiary
Guarantors, the Administrative Agent, the Lenders party hereto and the 2017 Additional Term Loan Lenders (as defined below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the
Lead Borrower has requested additional Term Loans under the Amended Credit Agreement (as defined below) in an aggregate principal amount of $95,000,000 (the &#147;<U>2017 Additional Term Loans</U>&#148;), which the Lead Borrower intends to treat as
fully fungible with the Initial Term Loans that are outstanding under the Credit Agreement immediately prior to giving effect to this Amendment; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the 2017 Additional Term Loan Lenders (as defined below) have elected to provide the 2017 Additional Term Loans on the terms and
conditions set forth herein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, each Person that agrees to make 2017 Additional Term Loans (collectively, the &#147;<U>2017
Additional Term Loan Lenders</U>&#148;) will make 2017 Additional Term Loans to the Borrowers on the Amendment Effective Date in an amount equal to its 2017 Additional Term Commitment (as defined below) and will become, if not already, a Lender for
all purposes under the Amended Credit Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to Section&nbsp;13.12 of the Credit Agreement, the Credit Parties have
requested to amend the Credit Agreement with the consent of the Required Lenders in order to, among other things, allow for an additional $25,000,000 of Indebtedness to be incurred pursuant to the ABL Credit Agreement under Section&nbsp;10.04(i)(z)
of the Credit Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, as of the date hereof, the Borrowers intend to use the proceeds of the 2017 Additional Term Loans,
together with the proceeds of additional term loans incurred under the Second Lien Credit Agreement on the date hereof, (i)&nbsp;to consummate the FCI Acquisition (as defined in the Amended Credit Agreement); (ii)&nbsp;to consummate the FCI
Refinancing (as defined in the Amended Credit Agreement) and (iii)&nbsp;to pay the fees, premiums and expenses in connection with the foregoing, this Amendment and the incurrence of the additional term loans under the Second Lien Credit Agreement
(collectively, the &#147;<U>2017 Amendment Transactions</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, Bank of America, N.A., an affiliate of Merrill Lynch,
Pierce, Fenner&nbsp;&amp; Smith Incorporated, Citizens Bank, National Association and Morgan Stanley Senior Funding, Inc. (together, the &#147;<U>Amendment No.&nbsp;1 Lead Arrangers</U>&#148;) shall each act as joint lead arrangers in connection
with this Amendment and the 2017 Additional Term Loans; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, this Amendment will become effective on the Amendment Effective Date
on the terms and subject to the conditions set forth herein. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Accordingly, in consideration of the foregoing and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.01 <B><U>Definitions</U></B>. Capitalized terms used and not otherwise defined herein have the me