SEC Contract Filing

Filing Date: 2019-08-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101gpstrategies-sec.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s234DD9DF715D5C6BD9D3F64B4E2EC3E3"></a></div><div><div style="line-height:120%;text-align:right;text-indent:576px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.1</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">SECOND AMENDMENT TO CREDIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">SECOND AMENDMENT TO CREDIT AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), dated as of June 28, 2019, by and among GP STRATEGIES CORPORATION, a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GENERAL PHYSICS (UK) LTD., a company organized and existing under the law of England and Wales with company number 03424328 (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">General Physics UK</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GP STRATEGIES HOLDINGS LIMITED, a company organized and existing under the law of England and Wales with company number 06340333 (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GP Holdings UK</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GP STRATEGIES LIMITED, a company organized and existing under the law of England and Wales with company number 08003789 (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GP Strategies Limited</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GP STRATEGIES TRAINING LIMITED, a company organized and existing under the law of England and Wales with company number 08003851 (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GP Strategies Training UK</font><font style="font-family:inherit;font-size:12pt;">&#8221;), TTI Global, Inc., a Michigan corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TTI Global</font><font style="font-family:inherit;font-size:12pt;">&#8221;; together with the Parent, General Physics UK, GP Holdings UK, GP Strategies Limited and GP Strategies Training UK, each a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221; and collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Borrowers</font><font style="font-family:inherit;font-size:12pt;">&#8221;), GP CANADA HOLDINGS COPRORATION, a Delaware corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Guarantor</font><font style="font-family:inherit;font-size:12pt;">&#8221;; together with the Borrowers, each a &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Loan Party</font><font style="font-family:inherit;font-size:12pt;">&#8221; and collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Loan Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the Lenders parties hereto, and PNC BANK, NATIONAL ASSOCIATION, in its capacity as administrative agent for the Lenders (hereinafter referred to in such capacity as the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Administrative Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;padding-bottom:24px;padding-top:8px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">BACKGROUND</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:96px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">A.</font><font style="font-family:inherit;font-size:12pt;">The Borrowers are parties to a Credit Agreement, dated as of November 30, 2018 (as amended, supplemented or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), among the Borrowers, the Guarantor, the lenders party thereto (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Lenders</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and the Administrative Agent;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">B.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Guarantor is a party to the Continuing Agreement of Guaranty and Suretyship, dated as of November 30, 2018, in favor of the Administrative Agent pursuant to which, </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">inter alia</font><font style="font-family:inherit;font-size:12pt;">, the Guarantor guaranteed the pa