SEC Contract Filing

Filing Date: 2015-05-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P id=PARA236 style="MARGIN-BOTTOM: 0px; TEXT-ALIGN: right; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit 10.3</B></FONT></P>
<P id=PARA237 style="MARGIN-BOTTOM: 0px; TEXT-ALIGN: left; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA113 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SECOND AMENDMENT </B></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT></P>
<P id=PARA115 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>TO <BR>AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT</B></FONT></P>
<P id=PARA116 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA117 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">This SECOND AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AND SECURITY AGREEMENT (this &#8220;<U>Amendment</U>&#8221;), effective as of March&nbsp;29,&nbsp;2015, is entered into by and among ENSERVCO CORPORATION, a Delaware corporation (&#8220;<U>Enservco</U>&#8221;), DILLCO FLUID SERVICE, INC., a Kansas corporation (&#8220;<U>Dillco</U>&#8221;), and HEAT WAVES HOT OIL SERVICE LLC, a Colorado limited liability company (&#8220;<U>Heat Waves</U>&#8221;) (Enservco, Dillco and Heat Waves, and each Person joined hereto as a borrower from time to time, each, a &#8220;<U>Borrower</U>&#8221; and collectively, &#8220;<U>Borrowers</U>&#8221;), PNC BANK, NATIONAL ASSOCIATION, as the sole Lender on the date hereof, and PNC BANK, NATIONAL ASSOCIATION, as Agent for the Lenders (in such capacity, &#8220;<U>Agent</U>&#8221;), with reference to the following facts:</FONT></P>
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<P id=PARA119 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>RECITALS</B></FONT></P>
<P id=PARA120 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA121 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 4.3pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 31.7pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The parties to this Amendment have entered into an Amended and Restated Revolving Credit and Security Agreement, dated as of September&nbsp;12,&nbsp;2014, as amended by the Consent and First Amendment to Amended and Restated Revolving Credit and Security Agreement dated as of February 27, 2015 (as maybe further amended, restated, supplemented or otherwise modified from time to time, the &#8220;<U>Credit Agreement</U>&#8221;), pursuant to which the Lenders provide certain credit facilities to Borrowers;</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 4.3pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 31.7pt">&nbsp;</P>
<P id=PARA122 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Any and all initially capitalized terms used in this Amendment without definition shall have the respective meanings assigned thereto in the Credit Agreement; </FONT></P>
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<P id=PARA123 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Borrowers have requested Agent and the Lenders amend certain provisions of the Credit Agreement, each as more fully set forth herein; and</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt">&nbsp;</P>
<P id=PARA124 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Agent and the Lenders are willing to make such amendments to the Credit Agreement, in accordance with, and subject to the terms and conditions set forth herein</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">.</FONT></P>
<P id=PARA125 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:</FONT></P>
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