SEC Contract Filing

Filing Date: 2023-01-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm231581d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Execution Version</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECOND AMENDMENT TO CREDIT AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This <B>SECOND AMENDMENT
TO CREDIT AGREEMENT </B>dated as of December&nbsp;29, 2022 (this &ldquo;<U>Second Amendment</U>&rdquo;) amends that certain Credit Agreement,
dated as of November&nbsp;5, 2021 (as amended by that certain First Amendment to Credit Agreement, dated as of January&nbsp;27, 2022,
and as further amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof,
the &ldquo;<U>Existing Credit Agreement</U>&rdquo;; the Existing Credit Agreement as amended by this Second Amendment, the &ldquo;<U>Amended
Credit Agreement</U>&rdquo;), among INOTIV,&nbsp;INC., an Indiana corporation (the &ldquo;<U>Borrower</U>&rdquo;), the Subsidiary Guarantors
party thereto, the Lenders party thereto and JEFFERIES FINANCE LLC, as administrative agent (the &ldquo;<U>Administrative Agent</U>&rdquo;)
and as collateral agent (the &ldquo;<U>Collateral Agent</U>&rdquo;). Capitalized terms used herein and not otherwise defined herein shall
have the meanings ascribed to them in the Amended Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RECITALS:</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
pursuant to Section&nbsp;11.02 of the Existing Credit Agreement, the Borrower has requested that the Lenders constituting Required Lenders
enter into this Second Amendment; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B></FONT>,
in connection with the foregoing, the Administrative Agent, the Required Lenders and the Borrower desire to amend the Existing Credit
Agreement in accordance with Section&nbsp;11.02 thereof in the form of this Second Amendment, such amendments to become effective on the
Second Amendment Effective Date (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW,
THEREFORE, </B></FONT>in consideration of the premises and the agreements, provisions and covenants contained in this Second Amendment,
the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Section&nbsp;1.
<U>Amendments to Credit Agreement</U></B></FONT>. Subject to the satisfaction of the conditions set forth in <U>Section&nbsp;2</U> hereof,
as of the Second Amendment Effective Date, (i)&nbsp;the Existing Credit Agreement is hereby amended to delete the stricken text (indicated
textually in the same as the following example: <FONT STYLE="color: red"><STRIKE>stricken text</STRIKE></FONT>) and to add the underlined
text (indicated textually in the same manner as the following example: <FONT STYLE="border-bottom-style: double; border-bottom-width: 0.5pt; padding-bottom: 0.5pt; color: #006fc0"><U>underlined
text</U></FONT>) as set forth in the pages&nbsp;of the Credit Agreement attached as <U>Exhibit&nbsp;A</U> hereto, (ii)&nbsp;Exhibit&nbsp;B
(Form&nbsp;of Borrowing Request) to the Existing Credit Agreement is hereby amended and restated in the form attached hereto as <U>Exhibit&nbsp;B-1</U>,
(iii)&nbsp;Exhibit&nbsp;C (Form&nbsp;of Compliance Certificate) to the Existing Credit Agreement is hereby amended and restated in the
form attached hereto as <U>Exhibit&nbsp;B-2</U>,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(iv)&nbsp;Exhibit&nbsp;D (Form&nbsp;of
Interest Election Request) to the Existing Credit Agreement is hereby amended and restated in the form attached hereto as <U>Exhibit&nbsp;B-3</U>
and (v)&nbsp;Exhibit&nbsp;F-2 (Form&nbsp;of Perfection Certificate Supplement) to the Existing Credit Agreement is hereby amended and
restated in the form attached hereto as <U>Exhibit&nbsp;B-4</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Section&nbsp;2.
<U>Conditions to Effectiveness</U></B></FONT>. The effectiveness of the amendments to the Existing Credit Agreement set forth in <U>Section&nbsp;1</U>
to this Second Amendment are each subject to the s