SEC Contract Filing

Filing Date: 2023-04-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>brhc10050867_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
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 <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.5</font><br>
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 <div style="text-align: right;">Execution Version</div>
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 <div style="text-align: center; font-weight: bold;">SECOND AMENDMENT TO CREDIT AGREEMENT</div>
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 <div style="text-align: justify; text-indent: 36pt;">This Second Amendment to the Credit Agreement (defined below)<font style="font-weight: bold;">&#160;</font>(this &#8220;<u>Second Amendment</u>&#8221;) is entered into as of March 28, 2023, by and among Stronghold
 Digital Mining, Inc., a Delaware corporation (&#8220;<u>Holdings</u>&#8221;), Stronghold Digital Mining Holdings, LLC, a Delaware limited liability company (the &#8220;<u>Borrower</u>&#8221;), each Subsidiary of the Borrower listed as a &#8220;Guarantor&#8221; on the signature pages
 hereto (together with Holdings, each a &#8220;<u>Guarantor</u>&#8221; and collectively, the &#8220;<u>Guarantors</u>&#8221;), the Lenders (as defined below) party hereto, Whitehawk Capital Partners LP (&#8220;<u>Whitehawk Capital</u>&#8221;), as collateral agent for the Lenders (in
 such capacity, together with its designees, successors and assigns, the &#8220;<u>Collateral Agent</u>&#8221;) and Whitehawk Capital, as administrative agent for the Lenders (in such capacity, together with its designees, successors and assigns, the &#8220;<u>Administrative
 Agent</u>&#8221; and together with the Collateral Agent, each an &#8220;<u>Agent</u>&#8221; and collectively, the &#8220;<u>Agents</u>&#8221;)and the Lenders (as defined below) party hereto.</div>
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 <div style="text-align: center; font-weight: bold;"><u>W I T N E S S E T H</u></div>
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 <div style="text-align: justify; text-indent: 36pt;">WHEREAS, Holdings, the Borrower, each Guarantor, Whitehawk Finance LLC and/or its Affiliates or designees and the other lenders from time to time party thereto (each a &#8220;<u>Lender</u>&#8221; and
 collectively, the &#8220;<u>Lenders</u>&#8221;), and the Agents are party to that certain Credit Agreement dated as of October 27, 2022 (as amended by that certain First Amendment dated as of February 6, 2023 and as further amended, the &#8220;<u>Credit Agreement</u>&#8221;)
 pursuant to which the Lenders have agreed to make Loans available to the Borrower;</div>
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 <div style="text-align: justify; text-indent: 36pt; margin-right: 13.2pt;">WHEREAS, the Borrower, Holdings, Lenders and the Agents wish to make certain amendments to the Credit Agreement as provided below subject to the terms and conditions hereinafter
 set forth; and</div>
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 <div style="text-align: justify; text-indent: 36pt;">NOW, THEREFORE, in consideration of the mutual agreements contained in this Second Amendment and herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
 acknowledged, the parties hereto hereby mutually agree as follows:</div>
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 <div style="text-align: justify; text-indent: 36pt;">NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
 acknowledged, the parties hereby agree as follows:</div>
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 <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Defined Terms</u>.&#160; Each capitalized term used herein and not defined herein shall have the meaning
 ascribed to such term in the Credit Agreement.</font></div>
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 <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">2.</font>&#160;&#160;&#160;&#160; &#160;&#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Amendments to the Credit Agreement</u>. Subject to the satisfaction (or waiver in writing by the
 Administrative Agent and undersigned Lenders which constitute at least Required Lenders) of the conditions set forth in <u>Section 3</u> hereof and in reliance on the representations and warranties of the Loan Parties set forth in this Second
 Amendment and in the Credit Agreement, in accordance with <u>Section 10.01</u> of the Credit Agreement, the Borrower, Holdings, Administrative Agent and each of the Lenders hereby agree that the Credit Agreement is amended and modified as follows:</font></div>
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 <div style="text-align: justify; text-indent: 72pt;"><font style="color: rgb(0, 0, 0);">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">Existing Definitions:</font></div>
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