SEC Contract Filing

Filing Date: 2022-03-22

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>brhc10035428_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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 <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Exhibit 10.1</div>
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 <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt;">Execution</div>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">FOURTH AMENDMENT TO CREDIT AGREEMENT</div>
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 <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">FOURTH AMENDMENT TO CREDIT AGREEMENT, dated as of March 18, 2022 (this &#8220;<font style="font-weight: bold;">Fourth Amendment</font>&#8221;), among Verso Holding
 LLC, a Delaware limited liability company (&#8220;<font style="font-weight: bold;">Holdings</font>&#8221;), Verso Paper Holding LLC, a Delaware limited liability company (the &#8220;<font style="font-weight: bold;">Borrower</font>&#8221;), each of the other Loan Parties (as
 defined in the Credit Agreement referred to below as amended hereby), the Lenders party hereto, and Wells Fargo Bank, National Association, as Administrative Agent.</div>
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 <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">RECITALS:</div>
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 <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">WHEREAS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, the parties hereto are party to the Asset-Based Revolving Credit Agreement, dated as of July 15, 2016 (as amended, restated, supplemented or otherwise modified prior to the date hereof and pursuant to this Fourth
 Amendment, the &#8220;<font style="font-weight: bold;">Credit Agreement</font>&#8221;), among Holdings, the Borrower, the other Loan Parties party thereto from time to time, the Lenders party thereto from time to time, the Administrative Agent and the other
 parties party thereto; and</font></div>
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 <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">WHEREAS</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, the Required Lenders and other parties hereto desire to amend the Credit Agreement upon the terms and conditions set forth herein.</font></div>
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 <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">NOW, THEREFORE</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">, in consideration of the premises and the agreements of the parties set forth herein, the parties hereto agree as follows:</font></div>
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 <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.</font><font style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;&#160;&#160; <u>Definitions</u>.</font></div>
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 <div style="text-align: left; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman'; color: rgb(0, 0, 0);">1.1.</font><font style="font-family: 'Times New Roman'; font-size: 10pt;"> <u>Additional Definitions</u>.&#160; Effective
 as of the BK Merger Effective Date, the Credit Agreement is amended to include, in addition and not in limitation, the following definitions, inserted in Section 1.01 of the Credit Agreement in alphabetical order:</font></div>
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 <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman'; font-size: 10pt;">&#8220;Adjusted Availability Triggering Event&#8221; shall occur at any time that (a) Excess Availability is less than the greater of (i) 15.0% of the Line Cap at
 such time or (ii) $25 million for five (5) consecutive Business Days or (b) an Event of Default shall have occurred and be continuing.&#160; Once occurred, an Adjusted Availability Triggering Event described in clause (a) shall be deemed to be continuing
 until such time as the Excess Availability is greater than the greater of (i) 15.0% of the Line Cap at such time or (ii) $25 million for thirty (30) consecutive days, and an Adjusted Availability Triggering Event described in clause (b) shall be
 deemed to be continuing until no Event of Default shall be continuing.</div>
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