SEC Contract Filing

Filing Date: 2025-03-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.25
<SEQUENCE>2
<FILENAME>orn-20241231xex10d25.htm
<DESCRIPTION>EX-10.25
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 10.6.128.0--><!--Created on: 3/5/2025 09:42:30 PM (UTC)--><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-size:11pt;font-weight:bold;">Exhibit 10.25</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-size:11pt;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">AMENDMENT NO. 6 TO LOAN AGREEMENT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:11pt;">This </font><b style="font-size:11pt;font-weight:bold;">AMENDMENT NO. 6 TO LOAN AGREEMENT </b><font style="font-size:11pt;">(this &#8220;</font><b style="font-size:11pt;font-weight:bold;">Amendment</b><font style="font-size:11pt;">&#8221;), dated as of March 4, 2025, is entered into by and among </font><b style="font-size:11pt;font-weight:bold;">ORION GROUP HOLDINGS, INC.</b><font style="font-size:11pt;">, a Delaware corporation (&#8220;</font><b style="font-size:11pt;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Orion</b><font style="font-size:11pt;">&#8221;), the Subsidiaries of Orion identified on the signature pages hereto as &#8220;Borrowers&#8221; (together with Orion, each, a &#8220;</font><b style="font-size:11pt;font-weight:bold;">Borrower</b><font style="font-size:11pt;">&#8221;, and collectively &#8220;</font><b style="font-size:11pt;font-weight:bold;">Borrowers</b><font style="font-size:11pt;">&#8221;), the Lenders party hereto and </font><b style="font-size:11pt;font-weight:bold;">WHITE OAK COMMERCIAL FINANCE, LLC</b><font style="font-size:11pt;">, a Delaware limited liability company, as administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, &#8220;</font><b style="font-size:11pt;font-weight:bold;">Administrative Agent</b><font style="font-size:11pt;">&#8221;) and as collateral agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, &#8220;</font><b style="font-size:11pt;font-weight:bold;">Collateral Agent</b><font style="font-size:11pt;">&#8221;, and the Administrative Agent together with the Collateral Agent, the &#8220;</font><b style="font-size:11pt;font-weight:bold;">Agents</b><font style="font-size:11pt;">&#8221;, and each, an &#8220;</font><b style="font-size:11pt;font-weight:bold;">Agent</b><font style="font-size:11pt;">&#8221;).</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:11pt;">WHEREAS, the Borrowers, the several financial institutions from time to time party thereto as Lenders, and the Agents are parties to that certain Loan Agreement dated as of May 15, 2023 (as amended, restated, modified or supplemented from time to time, the &#8220;</font><b style="font-size:11pt;font-weight:bold;">Loan Agreement</b><font style="font-size:11pt;">&#8221;);</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:11pt;">WHEREAS, the Borrowers have requested that the Agents and the Lenders amend the Loan Agreement in certain respects, and Agents and the Lenders are willing to do so on the terms and subject to the conditions set forth herein.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="font-size:11pt;">NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the parties hereto agree as follows:</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">1.</font></font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Defined Terms</u><font style="font-size:11pt;">. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Loan Agreement.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><font style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:normal;font-weight:normal;">2.</font></font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Amendments to Loan Agreement</u><font style="font-size:11pt;">. In reliance upon the representations and warranties of each Loan Party set forth in </font><u style="font-size:11pt;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Section 4</u><font style="font-size:11pt;"> below and subject to the satisfaction of the conditions to effectiveness set forth in </font><u style="font-size:11pt;text-de