SEC Contract Filing

Filing Date: 2019-03-05

Document Content:
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<TYPE>EX-10.7.5
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<FILENAME>strl123118exhibit1e04.htm
<DESCRIPTION>EXHIBIT 10.7.5
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<DIV><FONT size="1" style="font-size:1pt;color:white"> FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT AND AMENDMENT TO SUBORDINATION AGREEMENT This FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT AND AMENDMENT TO SUBORDINATION AGREEMENT (this &#8220;Amendment&#8221;), dated as of December 11, 2018, is entered into by and among Sterling Construction Company, Inc., a Delaware corporation (the &#8220;Borrower&#8221;), Wilmington Trust, National Association, as agent (the &#8220;Agent&#8221;) for the lenders identified on Schedule 2 to the Loan Agreement (as defined below) (the &#8220;Lenders&#8221;), the Lenders, the undersigned creditors in their capacity as Creditors under the Subordination Agreement (as defined below) (the &#8220;Creditors&#8221;) and with respect to Sections 5.2 and 5.3 hereto only, the Persons listed on the signature pages hereto as Guarantors (the &#8220;Guarantors&#8221; and, together with the Borrower, collectively, the &#8220;Loan Parties&#8221;). R E C I T A L S WHEREAS, the Borrower, the Guarantors, the Agent and the Lenders are parties to that certain Loan and Security Agreement, dated as of April 3, 2017, providing for certain extensions of credit to Borrower as provided therein (as amended prior to the date hereof, the &#8220;Existing Loan Agreement&#8221;; and the Existing Loan Agreement, as the same is amended hereby and may be further amended, supplemented or otherwise modified from time to time, including by this Amendment, is referred to herein as the &#8220;Loan Agreement&#8221;); WHEREAS, the Agent and the Creditors are parties to that certain Subordination Agreement, dated as of April 3, 2017, providing for the subordination of the Subordinated Debt (as defined therein) to the Senior Debt (as defined therein) (the &#8220;Existing Subordination Agreement&#8221;; and the Existing Subordination Agreement, as the same is amended hereby and may be further amended, supplemented or otherwise modified from time to time, including by this Amendment, is referred to herein as the &#8220;Subordination Agreement&#8221;); WHEREAS, the Borrower has requested that the Lenders amend certain provisions of the Existing Loan Agreement and by execution of this Amendment, each of the undersigned is agreeing to certain amendments to the Existing Loan Agreement as more fully set forth herein; and WHEREAS, the Borrower has requested that the Agent and the Creditors amend certain provisions of the Existing Subordination Agreement; NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows: Section 1. Defined Terms. Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Loan Agreement or the Subordination Agreement, as applicable. Unless otherwise indicated, all section references in this Amendment refer to sections of the Existing Loan Agreement or the Existing Subordination Agreement, as applicable. KE 58040255.3 </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white"> Section 2. Amendment to Loan Agreement. The Existing Loan Agreement is, subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, hereby amended as of the date set forth above to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double underlined text (indicated textually in the same manner as the following example: double underlined text) as set forth in the Loan Agreement attached hereto as Annex I. Section 3. Amendment to Subordination Agreement. The Existing Subordination Agreement is, subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, hereby amended as of the date set forth above by inserting the following language at the end of Section 3 of the Existing Subordination Agreement: &#8220;Notwithstanding anything herein to the contrary, the Loan Parties shall be permitted to repay any of the Subordinated Debt in accordance with the Loan Agreement.&#8221; Section 4. Effectiveness. This Amendment shall become effective as of the date on which the following conditions precedent shall have been satisfied: 4.1 The Agent shall have received duly executed counterparts of this Amendment from Borrower, each Guarantor, each Lender required to execute such Amendment and each Creditor, in each case, party hereto. 4.2 The Loan Parties shall pay to the Agent and Lenders, in each case, all costs and expenses described in Section 5.8 hereof. 4.3 The representations and warranties set forth in Section 5.2 hereof must be true and correct in all material respects (without duplication of materiality qualifiers) as of the date hereof. Section 5. Miscellaneous. 5.1 Confirmation. (a) The provisions of the Existing Loan Agreement, as amended by this Amendment, and each other Loan Document shall remain in full force and effect following the effectiveness of this Amendment and are hereby ratified and confirmed as so amended. This Amendment shall not constitute a novation or satisfaction and accord of the Loan Agreement and/or other Loan Document, but shall constitute an amendment thereof. Each reference in the Loan Agreement to &#8220;this Agreement,&#8221; &#8220;hereunder,&#8221; &#8220;h