AMENDMENT NO. 1 TO CREDIT AGREEMENT
Exhibit (k)(5)
EXECUTION VERSION
AMENDMENT NO. 1
AMENDMENT NO. 1 (this “Amendment”), dated as of June 22, 2018, to the Credit Agreement, dated as of January 18, 2018 (as amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement”), among Blackstone / GSO Floating Rate Enhanced Income Fund, a Delaware statutory trust (the “Borrower”), the Lenders party thereto, and The Bank of Nova Scotia, as administrative agent for the Lenders (the “Administrative Agent”).
RECITALS
I. Each term that is defined in the Credit Agreement and not herein defined has the meaning ascribed thereto by the Credit Agreement when used herein.
II. The Borrower desires to amend the Credit Agreement upon the terms and conditions herein contained, and each Lender has agreed thereto upon the terms and conditions herein contained.
AGREEMENTS
Accordingly, in consideration of the Recitals and the covenants, conditions and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
1. Clause (a) of the defined term “Commitment” contained in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows: “(a) set forth adjacent to its name on Schedule 1, as in effect from time to time, or”.
2. Schedule 1 to the Credit Agreement is hereby amended and restated in its entirety in the form of Schedule 1 hereto.
3. Paragraphs 1 and 2 hereof shall not be effective until each of the following conditions is satisfied (the date, if any, on which such conditions shall have first been satisfied being referred to herein as the “Amendment Effective Date”):
(a) the Administrative Agent shall have received from the Borrower and from each Lender either (i) a counterpart of this Amendment executed on behalf of the Borrower and each of the Lenders or (ii) written evidence satisfactory to the Administrative Agent (which may include facsimile or electronic mail transmission (in printable format)) that the Borrower and each of the Lenders have executed a counterpart of this Amendment;
(b) the Administrative Agent shall have received a certificate from the Secretary of the Borrower, in all respects satisfactory to the Administrative Agent, (i) certifying as to the incumbency of authorized persons of the Borrower executing this Amendment, (ii) attaching true, complete and correct copies of the resolutions duly adopted by the Board approving this Amendment
and the transactions contemplated hereby, all of which are in full force and effect on the date hereof, and (iii) certifying that the Borrower’s Organization Documents have not been amended, supplemented or otherwise modified since January 18, 2018 or, if Borrower’s Organization Documents have been amended, supplemented or otherwise modified since January 18, 2018, attaching true, complete and correct copies of each such amendment, supplement or modification;
(c) the Administrative Agent shall have received favorable written opinions from (i) Xxxxxxx Xxxxxxx & Xxxxxxxx LLP and (ii) Xxxxxxxx, Xxxxxx & Finger, P.A., each in form and substance reasonably acceptable to the Administrative Agent;
(d) the Administrative Agent shall have received a copy of a new Federal Reserve Form FR U-1 for each Lender, duly executed by or on behalf of the Borrower, in form and substance reasonably acceptable to the Administrative Agent; and
(e) all fees of the Administrative Agent (including the reasonable fees and expenses of counsel to the Administrative Agent) due and payable on or prior to the Amendment Effective Date and invoiced in reasonable detail at least two (2) Business Days prior to the Amendment Effective Date shall have been paid.
4. The Borrower (a) reaffirms the enforceability of each Loan Document, as amended hereby, and all of its obligations thereunder, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or law), (b) agrees and admits that (i) as of the date of execution and delivery hereof by the Borrower, it has no defense to any such obligation and (ii) it shall not exercise any setoff or offset to any such obligations, (c) represents and warrants that, immediately after giving effect to this Amendment, no Default has occurred and is continuing, and (d) represents and warrants that all of the representations and warranties made by it in the Loan Documents to which it is a party are true and correct immediately after giving effect to this Amendment (except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct on and as of such earlier date).
5. In all other respects, the Loan Documents shall remain in full force and effect, and no amendment in respect of any term or condition of any Loan Document shall be deemed to be an amendment in respect of any other term or condition contained in any Loan Document.
6. This Amendment may be executed in any number of counterparts, each of which shall constitute an original but all of which when taken together shall constitute a single contract. It shall not be necessary in making proof of this Amendment to produce or account for more than one counterpart signed by the party to be charged. Delivery of an executed counterpart of this Amendment by facsimile or e-mail (such as in “portable document format”) transmission shall be effective as delivery of a manually executed counterpart of this Amendment.
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7. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.
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IN WITNESS WHEREOF, each party hereto has caused this Amendment No. 1 to be executed by its duly authorized representative as of the day and year first above written.
| BLACKSTONE / GSO FLOATING RATE ENHANCED INCOME FUND | ||
| By: | /s/ Xxxxxx X. Xxxxx, Xx. | |
| Name. Xxxxxx X. Xxxxx, Xx. | ||
| Title: Chairman, Chief Executive Officer & President | ||
Blackstone / GSO Floating Rate Enhanced Income Fund
Amendment No. 1 to Credit Agreement
| THE BANK OF NOVA SCOTIA, as the Administrative Agent and as a Lender |
| By: /s/ Xxxx Xxx |
| Name: Xxxx Xxx |
| Title: Director |
Blackstone / GSO Floating Rate Enhanced Income Fund
Amendment No. I to Credit Agreement
| SOCIETE GENERALE, NEW YORK BRANCH, as a Lender |
| By: /s/ Julien Thinat |
| Name: Julien Thinat |
| Title: Authorized Signatory |
Blackstone / GSO Floating Rate Enhanced Income Fund
Amendment No. 1 to Credit Agreement
Schedule 1
List of Lenders and Commitments
