SEC Contract Filing

Filing Date: 2018-05-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.79
<SEQUENCE>2
<FILENAME>gee_ex1079.htm
<DESCRIPTION>SECOND WAIVER
<TEXT>
<html><head><title>gee_ex1079.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.79</b></p>
<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px" align="center"><b>SECOND WAIVER</b></p>
<p style="MARGIN: 0px" align="center"><b>TO REVOLVING CREDIT, TERM LOAN</b></p>
<p style="MARGIN: 0px" align="center"><b>AND SECURITY AGREEMENT</b></p>
<p style="MARGIN: 0px" align="center">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 90px">SECOND WAIVER, dated as of May 15, 2018 (this "<u>Waiver</u>"), to the Revolving Credit, Term Loan and Security Agreement dated as of March 31, 2017 (as amended, amended and restated, restated, supplemented or otherwise modified from time to time, the "<u>Credit Agreement</u>"), by and among GEE GROUP INC., an Illinois corporation ("<u>Holdings</u>"), SCRIBE SOLUTIONS, INC., a Florida corporation ("<u>Scribe</u>"), AGILE RESOURCES, INC., a Georgia corporation ("<u>Agile</u>"), ACCESS DATA CONSULTING CORPORATION, a Colorado corporation ("<u>Access</u>"), TRIAD PERSONNEL SERVICES, INC., an Illinois corporation ("<u>Triad Personnel</u>"), TRIAD LOGISTICS, INC., an Ohio corporation ("<u>Triad Logistics</u>"), PALADIN CONSULTING, INC., a Texas corporation ("<u>Paladin</u>"), BMCH, INC., an Ohio corporation ("<u>BMCH</u>"), GEE GROUP PORTFOLIO INC., a Delaware corporation and the surviving corporation of the merger of SNI HOLDCO INC., a Delaware corporation, with and into GEE Group Portfolio Inc., a Delaware corporation ("<u>SNI Holdings</u>"), and SNI COMPANIES, a Delaware corporation ("<u>SNI</u>" and together with Holdings, Scribe, Agile, Access, Triad Personnel, Triad Logistics, Paladin, BMCH, SNI Holdings and each other Person joined thereto as a borrower from time to time, collectively, the "<u>Borrowers</u>" and each a "<u>Borrower</u>"), each Subsidiary of Holdings listed as a "Guarantor" on the signature pages thereto (together with each other Person joined thereto as a guarantor from time to time, collectively, the "<u>Guarantors</u>", and each a "<u>Guarantor</u>", and together with the Borrowers, collectively, the "<u>Loan Parties</u>" and each a "<u>Loan Party</u>"), the lenders which now are or which thereafter become a party thereto that make Revolving Advances thereunder (together with their respective successors and assigns, collectively, the "<u>Revolving Lenders</u>" and each a "<u>Revolving Lender</u>"), the lenders which now are or which thereafter become a party thereto that made or acquire an interest in the Term Loans (together with their respective successors and assigns, collectively, the "<u>Term Loan Lenders</u>" and each a "<u>Term Loan Lender</u>", and together with the Revolving Lenders, collectively, the "<u>Lenders</u>" and each a "<u>Lender</u>"), MGG INVESTMENT GROUP LP ("<u>MGG</u>"), as administrative agent for the Lenders (together with its successors and assigns, in such capacity, the "<u>Administrative Agent</u>"), as collateral agent for the Lenders (together with its successors and assigns, in such capacity, the "<u>Collateral Agent</u>"), and as term loan agent for the Lenders (together with its successors and assigns, in such capacity, the "<u>Term Loan Agent</u>" and together with the Administrative Agent and the Collateral Agent, each an "<u>Agent</u>" and, collectively, the "<u>Agents</u>").</p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 90px">WHEREAS, the Borrowers, the Guarantors, the Agents and the Required Lenders wish to modify certain terms and provisions of the Credit Agreement as hereinafter set forth.</p>
<p style="MARGIN: 0px; TEXT-INDENT: 90px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 90px">NOW THEREFORE, in consideration of the premises and other good and valuable consideration the receipt of which is hereby acknowledged, the parties hereto hereby agree as follows:</p>
<p style="MARGIN: 0px; TEXT-INDENT: 90px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 90px">1. <u>Definitions</u>. All terms used herein that are defined in the Credit Agreement and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. </p>
<p style="MARGIN: 0px">&nbsp;
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<p style="MARGIN: 0px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 90px">2. <u>Waiver</u>. </p>
<p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 135px">(a) Pursuant to the request by the Loan Parties, but subject to satisfaction of the conditions set forth in <u>Section 4</u> hereof, and in reliance upon (A) the representations and warranties of Loan Parties set forth herein and in the Credit Agreement and (B) the agreements of the Loan Parties set forth herein, the Agents and the Required Lenders hereby waive any Defaults and Events of Default under the Credit Agreement that have solely arisen or would otherwise solely arise under Section 10.5(i) of the Credit Agreement solely by reason of the Loan Parties failing to comply with the financial covenants in Section 6.5 of the Credit Agreement for the period ending March 31, 2018.</p>
<p style="MARGIN: 0px; TEXT-INDENT: 135px">&nbsp;</p>
<p style="MARGIN: 0px; TEXT-INDENT: 135px">(b) The waiver in this <u>Section 2</u> shall be effective only in this specific instance and for the specific purpose set forth herein and does not allow for an