SEC Contract Filing

Filing Date: 2017-06-28

Document Content:
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<TYPE>EX-10.1
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<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: right">Exhibit 10.1</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: right">Executed Version</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">FIRST AMENDMENT TO CREDIT AGREEMENT</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Amendment</u></font>&#8221;), dated and effective as of the 26th day of June, 2017 (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Amendment Effective Date</u></font>&#8221;), is entered into by and among Kirby Corporation, a Nevada corporation (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Borrower</u></font>&#8221;), the Lenders party hereto and JPMorgan Chase Bank, N.A., as Administrative Agent (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Administrative Agent</u></font>&#8221;).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">RECITALS</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, the Borrower, the several banks and other financial institutions or entities from time to time party thereto (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Lenders</u></font>&#8221;) and the Administrative Agent are parties to that certain Credit Agreement dated as of April 30, 2015 (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Credit Agreement</u></font>&#8221;); and</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, the Borrower has requested an amendment&#160; to certain provisions of the Credit Agreement;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, the Lenders and the Administrative Agent are willing to so amend the Credit Agreement <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">subject to the terms and conditions set forth herein, provided that the Borrower ratifies and confirms all of its obligations under the Credit Agreement and the other Loan Documents</font>;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, each of The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Santander Bank, N.A. (each, an &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Exiting Lender</u></font>&#8221;) wishes to reallocate its Commitment among certain of the other Lenders as herein provided; and</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, ZB, N.A. dba Amegy Bank (the &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>New Lender</u></font>&#8221;) wishes to join the Credit Agreement as a Lender;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set forth in this Amendment, the Borrower, the Lenders and the Administrative Agent agree as follows:</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Defined Terms</u></font>.&#160; Unless otherwise defined herein, capitalized terms used herein have the meanings assigned to them in the Credit Agreement.</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Amendments to Credit Agreement</u></font>.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Section 1.01 of the Credit Agreement is hereby amended to add the followin