SEC Contract Filing

Filing Date: 2019-04-01

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>13
<FILENAME>d730850dex103.htm
<DESCRIPTION>EX-10.3
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>SECOND AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>GUARANTY AND SECURITY AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">This SECOND AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO GUARANTY AND SECURITY AGREEMENT (this
&#147;<U>Amendment</U>&#148;) is entered into as of March&nbsp;30, 2019, by and among ENDOLOGIX, INC., a Delaware corporation (&#147;<U>Endologix</U>&#148;), the other Borrowers party hereto, the Lenders party hereto and Deerfield ELGX Revolver,
LLC, as agent for itself and the other members of the Lender Group (in such capacity, together with its successors and assigns in such capacity, &#147;<U>Agent</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Borrowers, Agent and the Lenders party thereto are parties to that certain Credit Agreement dated as of
August&nbsp;9, 2018 (as amended, restated, supplemented or otherwise modified from time to time to (and not including) the date hereof, including by that certain First Amendment to Credit Agreement, dated as of November&nbsp;20, 2018, by and among
the Borrowers, the Lenders party thereto and Agent, the &#147;<U>Credit Agreement</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Borrowers and
Agent are parties to that certain Guaranty and Security Agreement dated as of August&nbsp;9, 2018 (as in effect as of the date hereof without giving effect to the amendments thereto set forth herein, the &#147;<U>Security Agreement</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Borrowers have requested that Agent and the Lenders (a)&nbsp;amend certain provisions of the Credit Agreement and
the Security Agreement and (b)&nbsp;waive certain Designated Occurrences (as defined below) under the Credit Agreement, and, subject to certain terms and limitations and the satisfaction of the conditions set forth herein, Agent and the Lenders are
willing to do so, on the terms set forth herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Credit Agreement and the Security Agreement are being
amended as part of, and pursuant to, a Plan of Recapitalization and Reorganization of Endologix described in Section&nbsp;368(a)(1)(E) of the IRC; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 1. <U>Defined Terms</U>. </B>Capitalized terms used herein (including in the preamble and recitals above) but not
otherwise defined herein shall have the respective meanings ascribed to such terms in the Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><B>SECTION 2.
<U>Amendments</U>. </B>Subject to the satisfaction of the conditions precedent set forth in <U>Section&nbsp;4</U> of this Amendment, as of the Second Amendment Effective Date (as defined below): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(a) The Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following
example: <STRIKE>stricken text</STRIKE>) and to add the double-underlined text (indicated textually in the same manner as the following example: </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">double-underlined
text)</U> as set forth in <U>Exhibit A-I</U> attached hereto (the &#147;<U>Amended Credit Agreement</U>&#148;); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(b)
The Schedules to the Credit Agreement are hereby amended and restated in their entirety in the form attached hereto as <U>Exhibit A-II</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">(c) The Security Agreement is hereby amended by adding the following language to the end of Section&nbsp;5.9 thereof
immediately before the &#147;.&#148; appearing therein: &#147;(for the avoidance of doubt, taking into account any cure periods applicable thereto)&#148;. </P>
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