AMENDMENT NO. 1 TO CREDIT AGREEMENT
Exhibit 10.2
Execution Version
AMENDMENT NO. 1 TO CREDIT AGREEMENT
THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT, dated as of August 2,
2022 (this “Amendment”), is by and among HARMONY BIOSCIENCES HOLDINGS, INC., a Delaware corporation (the “Borrower”), its wholly owned subsidiary, HARMONY BIOSCIENCES, LLC, a Delaware limited liability company (“Harmony”), as the sole initial Guarantor and the Lenders (as defined in the Credit Agreement referred to below).
WITNESSETH
WHEREAS, the Borrower, Harmony, the Lenders and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Administrative Agent (as defined therein) are party to that certain Credit Agreement, dated as of August 9, 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”, the Credit Agreement as amended by this Amendment, the “Amended Document”); and
WHEREAS, the parties have agreed to amend certain provisions of the Credit Agreement as hereinafter provided, in each case, subject to the satisfaction of the conditions precedent to effectiveness set forth in Section 3 hereof.
NOW THEREFORE, in consideration of the foregoing and the mutual agreements and covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1 Definitions; Interpretation.
SECTION 2Amendments.
(iii) | “Ticking Fee” has the meaning specified therefor in Section 2.07(c). |
2.07(c).
(iv) | “Ticking Fee Accrual Period” has the meaning specified therefor in Section |
(b) | The definition of “Outside Date” in Section 1.01 of the Credit Agreement |
is hereby amended and restated in its entirety as follows:
“Outside Date” means August 9, 2023 or such later date as may be agreed by the Lender Representative and the Borrower in their sole discretion and notified by the Borrower or the Lender Representative to the Administrative Agent in writing.”
“(c) Ticking Fee. From and after August 10, 2022 and until the last day of the Delayed Draw Availability Period (the “Ticking Fee Accrual Period”), the Borrower shall pay to the Administrative Agent for the account of each Lender with a Delayed Draw Commitment, in accordance with its pro rata share, a ticking fee (the “Ticking Fee”), which shall accrue daily on each day during the Ticking Fee Accrual Period at the rate per annum of 1.00% on the aggregate undrawn Delayed Draw Commitments of all Lenders. Accrued and unpaid Ticking Fees shall be payable upon each Borrowing of the Delayed Draw Loans and upon the expiration of the Delayed Draw Availability Period.”
SECTION 3 Conditions. The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent (the date on which the following conditions are satisfied or waived, the “First Amendment Effective Date”):
SECTION 4Miscellaneous.
(ii) the Lenders and the Administrative Agent reserve all rights, privileges and remedies under the Amended Document and the other Loan Documents.
[Remainder of page intentionally left blank; signature pages follow]
DocuSign Envelope ID: DE4B7423-D441-4F02-A273-9867166648B3
| BORROWER | |
| | |
| | By: |
| | Name: Xxxx X. Xxxxxx |
| | Title: President and Chief Executive Officer |
| GUARANTOR | HARMONY BIOSCIENCES, LLC |
| | |
| | By: |
| | Name: Xxxx X. Xxxxxx |
| | Title: President and Chief Executive Officer |
[Signature Page to Amendment No. 1 to Credit Agreement]
| LENDERS | ALOE SUB LLC, |
| | as a Lender |
| | |
| | By: Aloe Top Sub LLC, its sole member |
| | By: Aloe Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | |
| | ALPACA SUB LLC, |
| | as a Lender |
| | |
| | By: Alpaca Top Sub LLC, its sole member |
| | By: Alpaca Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | |
| | BEGONIA SUB LLC, |
| | as a Lender |
| | |
| | By: Begonia Top Sub LLC, its sole member |
| | By: Begonia Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
[Signature Page to Amendment No. 1 to Credit Agreement]
| | CACTUS SUB LLC, |
| | as a Lender |
| | |
| | By: Cactus Top Sub LLC, its sole member |
| | By: Cactus Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | |
| | FERN SUB LLC, |
| | as a Lender |
| | |
| | By: Fern Top Sub LLC, its sole member |
| | By: Fern Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | |
| | GRASS SUB LLC, |
| | as a Lender |
| | |
| | By: Grass Top Sub LLC, its sole member |
| | By: Grass Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | XXXXX SUB LLC, |
| | as a Lender |
| | |
| | By: Xxxxx Top Sub LLC, its sole member |
| | By: Xxxxx Xxxxx LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
Title:Authorized Signatory
| | IVY SUB LLC, |
| | as a Lender |
| | |
| | By: Ivy Top Sub LLC, its sole member |
| | By: Xxx Xxxxx LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | XXXX SUB LLC, |
| | as a Lender |
| | |
| | By: Xxxx Top Sub LLC, its sole member |
| | By: Xxxx Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | POTHOS SUB LLC, |
| | as a Lender |
| | |
| | By: Pothos Top Sub LLC, its sole member |
| | By: Pothos Topco LP, its sole member |
| | By: BXC Azul Associates LLC, its general partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | GSO CREDIT ALPHA FUND II-C AIV-1, LP, |
| | as a Lender |
| | |
| | By: GSO Credit Alpha Associates II LP, its General Partner |
| | By: GSO Credit Alpha Associates II (Delaware) LLC, its General Partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | GSO CREDIT ALPHA FUND II-C AIV-4, LP, |
| | as a Lender |
| | |
| | By: GSO Credit Alpha Associates II LP, its General Partner |
| | By: GSO Credit Alpha Associates II (Delaware) LLC, its General Partner |
| | |
| | By: |
| | Name: Xxxxxx Xxxxxx |
| | Title:Authorized Signatory |
| | |
| | Title:Authorized Signatory |