SEC Contract Filing

Filing Date: 2019-05-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>xpo2019q110-qexx101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sE6B4598A2CEA345B2F5D7D2F1566B6D5"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><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:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">AMENDMENT NO. 4 TO CREDIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Amendment No. 4, dated as of March 7, 2019 (this &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:11pt;">&#8221;), by and among XPO LOGISTICS, INC., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221;), certain of the Borrower&#8217;s Subsidiaries signatory hereto, the Lenders party hereto and MORGAN STANLEY SENIOR FUNDING, INC., in its capacity as administrative agent and collateral agent for the Lenders (in such capacities, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Agent</font><font style="font-family:inherit;font-size:11pt;">&#8221;), relating to the Senior Secured Term Loan Credit Agreement, dated as of October 30, 2015 (as heretofore amended, amended and restated, extended, supplemented or otherwise modified from time to time prior to the date hereof, including by that certain Incremental and Refinancing Amendment (Amendment No. 1 to Credit Agreement), dated as of August 25, 2016, that certain Refinancing Amendment (Amendment No. 2 to Credit Agreement), dated as of March 10, 2017 and that certain Refinancing Amendment (Amendment No. 3 to Credit Agreement), dated as of February 23, 2018, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;), among the Borrower, the Subsidiaries of the Borrower from time to time party thereto, the Lenders from time to time party thereto and the Agent.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Borrower and the Requisite Lenders have agreed to amend the Credit Agreement as set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Defined Terms</font><font style="font-family:inherit;font-size:11pt;">. Unless otherwise specifically defined herein, each term used herein that is defined in the Credit Agreement has the meaning assigned to such term in the 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;">Section 2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:11pt;">. Effective as of the Amendment No. 4 Closing Date (as defined below), clause (v) of the proviso to Section 2.15(c) shall be amended to read in its entirety as follows: </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#8220;(v)&#160;with respect to any Incremental Loans incurred pursuant to clause&#160;(a) of this </font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Section&#160;2.15</font><font style="font-family:inherit;font-size:11pt;">, if the All-in Yield on such Incremental Loans exceeds the initial All-in Yield for any existing Loans by more than 50 basis points (or, in the case of up to $500,000,000 aggregate principal amount of such Incremental Loans incurred on or prior to the date that is 90 days after March 7, 2019, 75 basis points) (the amount of such excess above 50 or 75 basis points, as applicable, being referred to herein as the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Yield Differential</font><font style="font-family:inherit;font-size:11pt;">&#8221;), then the Applicable Margin for such existing Loans shall automatically be increased by the Yield Differential applicable to such Loans, effective upon the making of the Incremental Loans (and Borrower shall be entitled, without the consent of any other Lender, to increase the All-in Yield on any Loans as necessary to ensure the Incremental Loans are &#8220;fungible&#8221; with any existing Loans),&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:12pt;"><f