SEC Contract Filing

Filing Date: 2017-11-03

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>transcat3330211-ex101.htm
<DESCRIPTION>AMENDED AND RESTATED CREDIT FACILITY AGREEMENT, DATED AS OF OCTOBER 30, 2017
<TEXT>

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<P style="TEXT-ALIGN: right"><B><FONT size=2 face="Times New Roman">Exhibit 10.1</FONT></B></P>

<P style="TEXT-ALIGN: center"><B><U><FONT size=2 face="Times New Roman">AMENDED AND RESTATED CREDIT FACILITY AGREEMENT</FONT></U></B></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">This AMENDED AND RESTATED CREDIT FACILITY AGREEMENT (&#8220;</FONT><U><FONT size=2 face="Times New Roman">2017 Agreement</FONT></U><FONT size=2 face="Times New Roman">&#8221; and &#8220;</FONT><U><FONT size=2 face="Times New Roman">Agreement</FONT></U><FONT size=2 face="Times New Roman">&#8221;) is made as of the 30<SUP>th </SUP>day of October, 2017, by and among TRANSCAT, INC. (&#8220;</FONT><U><FONT size=2 face="Times New Roman">Borrower</FONT></U><FONT size=2 face="Times New Roman">&#8221;), a corporation formed under the laws of the State of Ohio with offices at 35 Vantage Point Drive, Rochester, New York 14624, and MANUFACTURERS AND TRADERS TRUST COMPANY (&#8220;</FONT><U><FONT size=2 face="Times New Roman">Lender</FONT></U><FONT size=2 face="Times New Roman">&#8221;), a New York banking corporation, with offices at 3 City Center, 180 S. Clinton Avenue, Rochester, NY 14604.</FONT></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">Reference is made to the Credit
Facility Agreement made between Borrower and Lender dated September 20, 2012, as amended by Credit Facility Agreement
Amendment 1 dated August 26, 2014, Credit Facility Agreement Amendment 2 dated December 30, 2015, and Credit Facility
Agreement dated March 31, 2016 (collectively, the &#8220;</FONT><U><FONT size=2 face="Times New Roman">2012
Agreement</FONT></U><FONT size=2 face="Times New Roman">&#8221;). This Agreement continues the obligations under, but amends,
restates and replaces in its entirety, the 2012 Agreement. Nothing contained in this Agreement shall be construed to be
payment of the obligations of the Borrower under the 2012 Agreement or to extinguish, release, or discharge, or constitute,
create, or effect a novation of, or an agreement to extinguish, the obligations of the Borrower with respect to the 2012
Agreement. References in all documents and agreements between and among the Loan Parties and any of them and Lender to the
2012 Agreement shall be deemed to be references to this Agreement and all collateral for the obligations under the 2017
Agreement shall be Collateral hereunder.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">ARTICLE 1 - DEFINITIONS AND INTERPRETATIONS</FONT></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">1.1 </FONT><U><FONT size=2 face="Times New Roman">Definitions</FONT></U><FONT size=2 face="Times New Roman">. The following terms shall have the following meanings unless otherwise expressly stated herein:</FONT></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">&#8220;</FONT><U><FONT size=2 face="Times New Roman">Acquisition</FONT></U><FONT size=2 face="Times New Roman">&#8221; means any transaction, or any series of related transactions, consummated on or after the Closing Date, by which any Loan Party (a) acquires any going business or all or substantially all of the assets of any Person, whether through purchase of assets, merger or otherwise or (b) directly or indirectly acquires (in one transaction or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of the Equity Interests of a Person which has ordinary voting power for the election of directors or other similar management personnel of a Person (other than Equity Interests having such power only by reason of the happening of a contingency) or a majority of the outstanding Equity Interests of a Person.</FONT></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">&#8220;</FONT><U><FONT size=2 face="Times New Roman">Affiliate</FONT></U><FONT size=2 face="Times New Roman">&#8221; means any Person which directly or indirectly, or through one or more intermediaries, Controls or is Controlled by or is under Common Control with the applicable Person; provided, however, that the neither Lender, nor any its Affiliate, shall be considered an Affiliate of any Loan Party.</FONT></P>

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<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">&#8220;</FONT><U><FONT size=2 face="Times New Roman">Agreement</FONT></U><FONT size=2 face="Times New Roman">&#8221; means this Amended and Restated Credit Facility Agreement, as amended, supplemented, modified or restated from time to time.</FONT></P>

<P STYLE="text-align: justify; text-indent: 15pt"><FONT size=2 face="Times New Roman">&#8220;</FONT><U><FONT size=2 face="Times New Roman">Applicable Rate</FONT></U><FONT size=2 face="Times New Roman">&#8221; means the per annum percentage points shown in the applicable column of the table below based on the applicable Leverage Ratio, calculated for Borrower on a consolidated basis with its Subsidiaries and without duplication in accordance with GAAP:</FONT></P>

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