AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT
Exhibit 10.2
AMENDMENT
NO. 1 TO LOAN AND SECURITY AGREEMENT
THIS AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is dated as of
february 11, 2010, among UNITED MARITIME GROUP, LLC, a Florida limited liability
company (“Group”), U.S. UNITED BARGE LINE, LLC, a Florida limited liability company
(“Barge”), U.S. UNITED OCEAN SERVICES, LLC, a Florida limited liability company
(“Ocean”), U.S. UNITED BULK TERMINAL, LLC, a Louisiana limited liability company
(“Bulk”), U.S. UNITED INLAND SERVICES, LLC, a Delaware limited liability company
(“Inland”), XXXX XXXXXXX, LLC, a Delaware limited liability company (“Xxxx”), XXXX
XXX XXXXXX, LLC, a Delaware limited liability company (“Xxxx Xxx”), XXXXXX XXXXXXXX, LLC, a
Delaware limited liability company (“Xxxxxx”), XXXXX XXXXX, LLC, a Delaware limited
liability company (“Xxxxx”, and together with Group, Barge, Ocean, Bulk, Inland, Xxxx, Xxxx
Xxx and Xxxxxx, individually and collectively, jointly and severally, the “Borrowers”), the
financial institutions party to this Agreement from time to time as lenders (collectively,
“Lenders”), BANK OF AMERICA, N.A., a national banking association, as administrative agent
and co-collateral agent for Lenders (in such capacity, “Agent”) and as security trustee (in
such capacity, “Security Trustee”), BANC OF AMERICA SECURITIES LLC, a Delaware limited
liability company, XXXXX FARGO CAPITAL FINANCE, LLC (formerly known as Xxxxx Fargo Foothill, LLC),
a Delaware limited liability company, and JEFFERIES FINANCE LLC, a Delaware limited liability
company, as joint lead arrangers (in their respective capacities, “Joint Lead Arrangers”)
and book managers (in their respective capacities, “Book Managers”) for Lenders, and XXXXX
FARGO CAPITAL FINANCE, LLC (formerly known as Xxxxx Fargo Foothill, LLC), a Delaware limited
liability company, as co-collateral agent for Lenders (in such capacity, “Co-Collateral
Agent”).
W I T N E S S E T H :
WHEREAS, Borrowers, Lenders, Agent, Security Trustee, Joint Lead Arrangers, Book Managers and
Co-Collateral Agent have entered into a Loan and Security Agreement, dated as of December 22,
2009 (as the same now exists or may hereafter be amended, restated, renewed, extended,
substituted, modified or supplemented from time to time, the “Loan Agreement”), and other Loan
Documents (as defined in the Loan Agreement); and
WHEREAS, Borrowers have requested that Agent, Co-Collateral Agent and Lenders agree to amend
certain provisions of the Loan Agreement, and Agent, Co-Collateral Agent and Lenders are willing to
agree to such amendments, subject to the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree as follows:
SECTION 1. DEFINITIONS.
Capitalized terms used in this Amendment (including in the recitals above) and not otherwise
defined shall have the meanings ascribed to such terms in the Loan Agreement.
SECTION 2. ACKNOWLEDGMENTS.
2.1 Acknowledgment of Obligations. Borrowers hereby acknowledge, confirm and agree
that as of the opening of business on February 1, 2010, Borrowers are indebted to Agent
and
Lenders in respect of the Loans in the principal amount of $75,240,000.03 and in
respect of Letters of Credit in the undrawn amount of $3,717,600.00. All such
amounts, together with interest accrued and accruing
thereon, and fees, costs, expenses and other charges now or hereafter payable by Borrowers to
Agent and Lenders, are unconditionally owing by Borrowers to Agent and Lenders in accordance with
the terms of the Loan Documents, without offset, defense or counterclaim of any kind, nature or
description whatsoever.
2.2 Acknowledgment of Security Interests. Each Borrower hereby acknowledges,
confirms and agrees that Agent, for the benefit of Secured Parties, has and shall continue to have
valid, enforceable and perfected first priority liens upon and security interests in the Collateral
of such Borrower heretofore granted to Agent, for the benefit of Secured Parties, pursuant to the
Loan Documents or otherwise granted to or held by Agent, for the benefit of Secured Parties, and in
which Agent, for the benefit of Secured Parties, presently has perfected first priority liens upon
and security interests.
2.3 Binding Effect of Documents. Each of the Borrowers hereby acknowledges,
confirms and agrees that: (a) each of the Loan Documents to which it is a party has been duly
executed and delivered, and each is in full force and effect as of the date hereof, (b)
the agreements and obligations of such Borrower contained in the Loan Documents and in this
Amendment constitute the legal, valid and binding obligations of such Borrower, enforceable against
it in accordance with their respective terms, and such Borrower has no valid defense to the
enforcement of such obligations, except as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, or similar laws affecting the rights of creditors generally and to the
effect of general principles of equity whether applied by a court of law or equity, and (c) Agent
and Lenders are and shall be entitled to the rights, remedies and benefits provided for in the Loan
Documents and applicable law.
SECTION 3. AMENDMENTS AND SUPPLEMENTARY PROVISIONS.
3.1 Definitions.
(a) The definition of the term “Borrowers” set forth in Section 1.1 of the Loan Agreement
is hereby amended and restated in its entirety as follows:
“Borrowers: has the meaning specified therefor in the preamble of this Agreement
together with each other Person who becomes a Borrower pursuant to Section 10.1.9,
individually and collectively, jointly and severally.”
(b) The last sentence of the definition of the term “Eligible Assignee” set forth in Section
1.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:
“Notwithstanding anything to the contrary set forth herein, (x) in no event shall any
Obligor or any of Xxxxxxxxxxx Equity Partners, LLC, JCP United Maritime Holding LLC, AMCIC
Maritime AIV, LLC or First Reserve Fund XI, L.P. be an Eligible Assignee and (y) if any
portion of the Commitments shall be assigned to any Affiliate of Xxxxxxxxxxx Equity
Partners, LLC, JCP United Maritime Holding LLC (other than Jefferies Finance LLC), AMCIC
Maritime AIV LLC or First Reserve Fund XI, L.P., then, for the purposes of
voting as contemplated under Section 14.1, the Commitment of any such Person
shall be deemed to be $0.”
(c) The definition of the term “New Vessel” set forth in Section 1.1 of the Loan
Agreement is hereby amended and restated in its entirety as follows:
“New
Vessel: as of any date of determination, any Vessel acquired by a Borrower within
180 days of the date of the Permitted Sale-Leaseback Transaction to which such Vessel is
subject.”
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3.2 Protective Advances. Section 2.1.6 of the Loan Agreement is hereby amended and
restated in its entirety as follows:
“2.1.6. Protective Advances. Agent shall be authorized, in its discretion, at any
time that any conditions in Section 6 are not satisfied, to make Base Rate Loans
(“Protective Advances”) (a) up to an aggregate amount outstanding at any time
equal to $13,500,000 minus any Overadvance outstanding at such time, if Agent deems such
Loans necessary or desirable to preserve or protect Collateral, or to enhance the
collectibility or repayment of Obligations (other than Bank Product Debt); or (b) to pay
any other amounts chargeable to Obligors under any Loan Documents, including costs, fees
and expenses; provided, that in no event shall any Protective Advance be made if, upon the
making thereof, the outstanding Loans and LC Obligations would exceed the aggregate
Commitments. Each Lender shall participate in each Protective Advance on a Pro Rata basis.
Required Lenders may at any time revoke Agent’s authority to make further Protective
Advances by written notice to Agent. Absent such revocation, Agent’s determination that
funding of a Protective Advance is appropriate shall be conclusive.”
3.3 Letter of Credit Facility. The seventh (7th) sentence of Section 2.3.1 of the
Loan Agreement is hereby amended and restated in its entirety as follows:
“The Issuing Bank shall have no obligation to issue a Letter of Credit or a
Reimbursement Undertaking in respect of an Underlying Letter of Credit, in either case, if
any of the following would result after giving effect to the requested issuance: (a) the
Letter of Credit Usage would exceed the Borrowing Base less the outstanding amount of Loans
(inclusive of Swingline Loans); (b) the Letter of Credit Usage would exceed the Letter of
Credit Subline; or (c) the Letter of Credit Usage would exceed the Commitments less the
outstanding amount of Loans (inclusive of Swingline Loans).”
3.4 Rates and Payment of Interest. Section 3.1.1 (c) of the Loan Agreement is
hereby amended and restated in its entirety as follows:
“(c) Interest accrued on the Loans shall be due and payable in arrears, (i) on the
first day of each month and, for any LIBOR Loan, the last day of its Interest Period (but
in no event less frequently than once every three months); (ii) on any date of prepayment,
with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment
Termination Date. Interest accrued on any other Obligations shall be due and payable as
provided in the Loan Documents and, if no payment date is specified, shall be due and
payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate
shall be due and payable on demand.”
3.5 Interest Periods. Section 3.1.3 of the Loan Agreement is hereby
amended and restated in its entirety as follows:
“3.1.3. Interest Periods. In connection with the making, conversion or continuation
of any LIBOR Loans, Borrowers shall select an interest period (“Interest Period”) to apply,
which interest period shall be one, two, or three months (or, if all Lenders agree, six,
nine or twelve months); provided, however, that:
(a) the Interest Period shall commence on the date the Loan is made or continued as,
or converted into, a LIBOR Loan, and shall expire on the numerically corresponding day in
the calendar month at its end;
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(b) if any Interest Period commences on a day for which there is no
corresponding day in the calendar month at its end or if such corresponding day falls after
the last Business Day of such month, then the Interest Period shall expire on the last
Business Day of such month; and if any Interest Period would expire on a day that is not a
Business Day, the period shall expire on the next Business Day; and
(c) no Interest Period shall extend beyond the Revolver Termination Date.”
3.6
Restricted Investments. Clause (g) in the first
(1st) sentence of Section
10.2.5 of the Loan Agreement is hereby amended and restated in its entirety as follows:
“(g) it is an Investment (including, without limitation, an Investment in an
Unrestricted Subsidiary, so long as, as of the date of such Investment, no Default, Event
of Default or Overadvance exists or would result from the making thereof), loan or advance
which, when aggregated with all other Investments, loans and advances permitted pursuant to
this clause (g) existing at such time, does not exceed $10,000,000 (determined as of the
date of the Investment and net of any repayments, interest, returns, profits,
distributions, income and similar amounts actually received in cash in respect of such
Investment);”
3.7 Restrictions on Payment of Certain Debt.
(a) The
first (1st) sentence of Section 10.2.8 of the Loan Agreement is hereby
amended and restated in its entirety as follows:
“Make any payments (whether voluntary or mandatory, or a prepayment, redemption,
retirement, defeasance or acquisition) with respect to any (a) Subordinated Debt, except
regularly scheduled payments of principal, interest and fees, but only to the extent
permitted under any subordination agreement relating to such Debt (and a Senior Officer of
Borrower Agent shall certify to Agent, not less than five Business Days prior to the date
of payment, that all conditions under such agreement have been satisfied); or (b) Borrowed
Money (other than the Obligations) outstanding on the Closing Date prior to its due date
under the agreements evidencing such Debt as in effect on the Closing Date (or as amended
thereafter with the consent of Agent).”
(b) Clause (d) in the second (2nd) sentence of Section 10.2.8 of the
Loan Agreement is hereby amended and restated in its entirety as follows:
“(d) regularly scheduled payments of interest and fees, payments of Excess Cash Flow
under and as such capitalized term is defined in the Second Lien Documents, and payment of
principal at maturity, under the Second Lien Documents (subject to the limitations set
forth in the lntercreditor Agreement); except, that, each Borrower shall not, and each
Borrower shall cause each Restricted Subsidiary not to, make any payment of “Excess Cash
Flow” under and as such capitalized term is defined in the Second Lien Documents unless (i)
as of the date of such payment, no Default or Event of Default exists or would exist from
the making thereof, (ii) after giving effect thereto, on a pro forma basis, (A) the Fixed
Charge Coverage Ratio based on the Fiscal Quarter financial statements most recently
delivered pursuant to Section 10.1.2(b) shall be not less than 1.1 to 1.0, (B) Availability
at all times during the immediately preceding 30 day period shall not be less than the
greater of $30,000,000 and (y) 30% of the lesser of (1) the Borrowing Base and
(2) the aggregate Commitments.”
SECTION 4. REPRESENTATIONS, WARRANTIES AND COVENANTS.
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Each Borrower hereby represents, warrants and covenants with and to Agent and Lenders as
follows:
4.1 Representations in Loan Documents. Each of the representations and warranties
made by or on behalf of such Borrower to Agent and Lenders in any of the Loan Documents was true
and correct when made and in all material respects is true and correct on and as of the date of
this Amendment with the same full force and effect as if each of such representations and
warranties had been made by or on behalf of such Borrower on the date hereof and in this Amendment
(other than such representations and warranties that relate solely to a specific prior date).
4.2 Binding Effect of Documents. This Amendment and the other Loan Documents have
been duly executed and delivered to the Lender by such Borrower and are in full force and effect,
as modified hereby.
4.3 No Conflict, Etc. The execution and delivery and performance of this Amendment
by such Borrower will not violate any requirement of law or contractual obligation of such Borrower
and will not result in, or require, the creation or imposition of any Lien on any of its properties
or revenues, other than Permitted Liens.
4.4 No Default or Event of Default. No Default or Event of Default exists
immediately pnor to, or will exist immediately after, the execution of this Amendment and the other
letters, agreements and instruments, if any, executed and delivered in connection herewith.
SECTION 5. CONDITIONS TO EFFECTIVENESS OF THIS AMENDMENT.
The effectiveness of the terms and provisions of this Amendment shall be subject to the
receipt by Agent of (i) an original of this Amendment, duly authorized, executed and delivered by
each Borrower, Agent and Lenders and (ii) such other documents as Agent in its discretion deems
reasonably necessary, all in form and substance satisfactory to Agent.
SECTION 6. PROVISIONS OF GENERAL APPLICATION.
6.1 Effect of this Amendment. Except as modified pursuant hereto, and
pursuant to the other letters, agreements and instruments, if any, executed and delivered in
connection herewith, no other changes or modifications to the Loan Documents are intended or
implied and in all other respects the Loan Documents are hereby specifically ratified, restated and
confirmed by all parties hereto as of the effective date hereof. To the extent of conflict between
the terms of this Amendment and the other Loan Documents, the terms of this Amendment shall
control. Any Loan Document amended hereby shall be read and construed with this Amendment as one
agreement.
6.2 Costs and Expenses. Borrowers absolutely and unconditionally agree to pay to
Agent, on demand by Agent at any time and as often as the occasion therefor may require, whether or
not all or any of the transactions contemplated by this Amendment are consummated: all reasonable
fees and disbursements of any counsel to Agent in connection with the preparation, negotiation,
execution, or delivery of this Amendment and any agreements delivered in connection with the
transactions contemplated hereby and all reasonable expenses which shall at any time be incurred or
sustained by Agent or its directors, officers, employees or agents as a consequence of or in any
way in connection with the preparation, negotiation, execution, or delivery of this Amendment and
any agreements prepared, negotiated, executed or delivered in connection with the transactions
contemplated hereby.
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6.3 No Third Party Beneficiaries. The terms and provisions of this Amendment shall be
for the benefit of the parties hereto and their respective successors and assigns; no other person,
xxxx, entity or corporation shall have any right, benefit or interest under this Amendment.
6.4 Further Assurances. The parties hereto shall execute and deliver such additional documents
and take such additional action as may be reasonably necessary or desirable to effectuate the
provisions and purposes of this Amendment.
6.5 Binding Effect. This Amendment shall be binding upon and inure to the benefit of each of
the parties hereto and their respective successors and assigns.
6.6 Merger. This Amendment sets forth the entire agreement and understanding of the parties
with respect to the matters set forth herein. This Amendment cannot be changed, modified, amended
or terminated except in a writing executed by the party to be charged.
6.7 Survival of Representations and Warranties. All representations and warranties made in
this Amendment or any other document furnished in connection with this Amendment shall survive the
execution and delivery of this Amendment and the other documents, and no investigation by Agent or
any closing shall affect the representations and warranties or the right of Agent to rely upon
them.
6.8 Severability. Any provision of this Amendment held by a court of competent jurisdiction to
be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment.
6.9 Reviewed by Attorneys. Each Borrower represents and warrants to Agent and Lenders that it
(a) understands fully the terms of this Amendment and the consequences of the
execution and delivery of this Amendment, (b) has been afforded an opportunity to have this
Amendment reviewed by, and to discuss this Amendment and each document executed in connection
herewith with, such attorneys and other persons as such Borrower may wish, and (c) has entered into
this Amendment and executed and delivered all documents in connection herewith of its own free will
and accord and without threat, duress or other coercion of any kind by any Person. The parties
hereto acknowledge and agree that neither this Amendment nor the other documents executed pursuant
hereto shall be construed more favorably in favor of one than the other based upon which party
drafted the same, it being acknowledged that all parties hereto contributed substantially to the
negotiation and preparation of this Amendment and the other documents executed pursuant hereto or
in connection herewith.
6.10 Governing Law; Consent to Jurisdiction and Venue.
(a) THIS
AMENDMENT, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL
LAWS RELATING TO NATIONAL BANKS).
(b) EACH BORROWER HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE
COURT SITTING IN OR WITH JURISDICTION OVER THE STATE OF NEW YORK, IN ANY PROCEEDING OR DISPUTE
RELATING IN ANY WAY HERETO, AND AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN
ANY SUCH COURT. EACH BORROWER IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY
HAVE REGARDING SUCH COURT’S PERSONAL OR SUBJH’T MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM.
EACH PARTY
HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED
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FOR NOTICES IN SECTION 14.3.1 OF THE LOAN AGREEMENT. Nothing herein shall limit the
right of Agent or any Lender to bring proceedings against any Obligor in any other court, nor limit
the right of any party to serve process in any other manner permitted by Applicable Law. Nothing in
this Amendment shall be deemed to preclude enforcement by Agent of any judgment or order obtained
in any forum or jurisdiction.
6.11 Waivers. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH BORROWER WAIVES (A) THE
RIGHT TO TRIAL BY JURY (WHICH AGENT AND EACH LENDER HEREBY ALSO WAIVES) IN ANY PROCEEDING OR
DISPUTE OF ANY KIND RELATING IN ANY WAY HERETO; (B) PRESENTMENT, DEMAND, PROTEST, NOTICE OF
PRESENTMENT, DEFAULT, NON-PAYMENT, MATURITY, RELEASE, COMPROMISE, SETTLEMENT, EXTENSION OR RENEWAL
OF ANY COMMERCIAL PAPER, ACCOUNTS, DOCUMENTS, INSTRUMENTS, CHATTEL PAPER AND GUARANTIES AT ANY TIME
HELD BY AGENT ON WHICH A BORROWER MAY IN ANY WAY BE LIABLE, AND HEREBY RATIFIES ANYTHING AGENT MAY
DO IN THIS REGARD; (C) NOTICE PRIOR TO TAKING POSSESSION OR CONTROL OF ANY COLLATERAL; (D) ANY BOND
OR SECURITY THAT MIGHT BE REQUIRED BY A COURT PRIOR TO ALLOWING AGENT TO EXERCISE ANY RIGHTS OR
REMEDIES: (E) THE BENEFIT OF ALL VALUATION, APPRAISEMENT AND EXEMPTION LAWS; (F) ANY
CLAIM AGAINST AGENT OR ANY LENDER, ON ANY THEORY OF LIABILITY, FOR SPECIAL, INDIRECT,
CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES (AS OPPOSED TO DIRECT OR ACTUAL DAMAGES) IN ANY WAY
RELATING TO ANY ENFORCEMENT ACTION, OBLIGATIONS, LOAN DOCUMENTS OR TRANSACTIONS RELATING THERETO;
AND (G) NOTICE OF ACCEPTANCE HEREOF. Each Borrower acknowledges that the foregoing waivers are a
material inducement to Agent and Lenders entering into this Amendment and that Agent and Lenders
are relying upon the foregoing in their dealings with Borrowers. Each Borrower has reviewed the
foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial
and other rights following consultation with legal counsel. In the event of litigation, this
Amendment may be filed as a written consent to a trial by the court.
6.12 Counterparts. This Amendment may be executed in one or more counterparts, each of which
shall constitute but one and the same Amendment. In making proof of this Amendment, it shall not be
necessary to produce or account for more than one counterpart thereof signed by each of the parties
hereto. Delivery of the signature page hereof by telecopy or email shall be effective as delivery
of a manually executed counterpart hereof.
[Signature page follows]
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IN
WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the
date first written above.
| BORROWERS: UNITED MARITIME GROUP, LLC U.S. UNITED BARGE LINE, LLC U.S. UNITED OCEAN SERVICES, LLC U.S. UNITED BULK TERMINAL, LLC U.S. UNITED INLAND SERVICES, LLC XXXX XXXXXXX, LLC XXXX XXX XXXXXX, LLC XXXXXX XXXXXXXX, LLC XXXXX XXXXX, LLC |
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| By: | /s/ Xxx Xxxxxxx | |||
| Name: | Xxx Xxxxxxx | |||
| Title : Chief Executive Officer | ||||
Amendment
No. 1 to Loan and Security
Agreement
Agreement
| XXXXXX XXXXXXXX, LLC |
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| By: | ||||
| Title: | ||||
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XXXXX XXXXX, LLC |
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| By: | ||||
| Title: | ||||
| AGENTS AND LENDERS: BANK OF AMERICA, N.A., as Agent. Co-Collateral Agent and a Lender |
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| By: | /s/ Xxxx X. Xxxxx | |||
| Title: SVP | ||||
| XXXXX FARGO CAPITAL FINANCE, LLC (formerly known as Xxxxx Fargo Foothill, LLC), as Co-Collateral Agent and a Lender |
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| By: | ||||
| Title: | ||||
| JEFFERIES FINANCE LLC, as a Lender |
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| By: | ||||
| Title: | ||||
Amendment
No. 1 to Loan and Security
Agreement
Agreement
| XXXXXX XXXXXXXX, LLC |
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| By: | ||||
| Title: | ||||
| XXXXX XXXXX, LLC |
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| By: | ||||
| Title: | ||||
| AGENTS AND LENDERS: BANK OF AMERICA, N.A., as Agent, Co-Collateral Agent and a Lender |
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| By: | ||||
| Title: | ||||
| XXXXX FARGO CAPITAL FINANCE, LLC (formerly known as Xxxxx Fargo Foothill, LLC), as Co-Collateral Agent and a Lender |
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| By: | /s/ Xxxxxx Xxxxxx | |||
| Title: X.X. | ||||
| XXXXXXXXX FINANCE LLC, as a Lender |
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| By: | ||||
| Title: | ||||
Amendment No. 1 to Loan and Security
Agreement
Agreement
| XXXXXX XXXXXXXX, LLC |
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| By: | ||||
| Title: | ||||
| XXXXX XXXXX, LLC |
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| By: | ||||
| Title: | ||||
| AGENTS AND LENDFRS: BANK OF AMERICA, N.A., as Agent, Co-Collateral Agent and a Lender |
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| By: | ||||
| Title: | ||||
| XXXXX FARGO CAPITAL FINANCE, LLC (formerly known as Xxxxx Fargo Foothill, LLC), as Co-Collateral Agent and a Lender |
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| By: | ||||
| Title: | ||||
| JEFFERIES FINANCE LLC, as a Lender |
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| By: | /s/ Xxxx X. Xxxxxxxx | |||
| Title: Xxxx X. Xxxxxxxx | ||||
| Executive Vice President | ||||
Amendment No. 1 to Loan and Security
Agreement
Agreement
