or inquiry by any Governmental Authority regarding the Amended Credit Agreement and the other Credit Documents contemplated to be executed and delivered in connection herewith and the transactions contemplated herein and therein is ongoing, (iii) the...
Exhibit 10.1
Execution Version SEVENTH AMENDMENT TO CREDIT AGREEMENT THIS SEVENTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), is made and entered into as of June 8, 2020, by and among ORION GROUP HOLDINGS, INC., a Delaware corporation (formerly known as Orion Marine Group, Inc.) (the “Borrower”), certain Subsidiaries of the Borrower designated as “Guarantors” on the signature pages hereof (together with the Borrower, the “Credit Parties”), the 364-Day Revolving Lenders, the Existing Lenders party hereto constituting the Required Lenders, and REGIONS BANK, as administrative agent and collateral agent for the Lenders (in such capacity, the “Agent”). W I T N E S S E T H: WHEREAS, the Borrower, the Guarantors, certain banks and other financial institutions (the “Existing Lenders”) and the Agent are parties to a certain Credit Agreement, dated as of August 5, 2015 (as amended by that certain First Amendment to Credit Agreement, dated as of April 27, 2016, that certain Second Amendment to Credit Agreement, dated as of July 28, 2017, that certain Third Amendment to Credit Agreement, dated as of November 7, 2017, that certain Fourth Amendment to Credit Agreement, dated as of July 31, 2018, that certain Fifth Amendment to Credit Agreement, dated as of March 21, 2019, that certain Sixth Amendment to Credit Agreement, dated as of May 7, 2019, and as further amended, restated, supplemented, increased, extended or otherwise modified from time to time, the “Credit Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Credit Agreement), pursuant to which the Existing Lenders have made loans and certain other financial accommodations available to the Borrower; WHEREAS, the Borrower has requested that (a) certain banks and other financial institutions (the “364-Day Revolving Lenders”; and together with the Existing Lenders, collectively, the “Lenders”) provide a $20,000,000 364-day revolving credit facility under the Credit Agreement (the “364-Day Revolving Credit Facility”) and (b) the Existing Lenders constituting the Required Lenders and the Agent (i) amend certain provisions of the Credit Agreement to, inter alia, provide for the 364-Day Revolving Credit Facility and (ii) waive the Designated Defaults (as defined below); WHEREAS, the 364-Day Revolving Lenders are willing to provide the commitments under the 364-Day Revolving Credit Facility as set forth on Appendix A to the Credit Agreement (as Amended pursuant to this Amendment) and, together with the Existing Lenders party hereto constituting the Required Lenders, make such amendments to the Credit Agreement, including, without limitation, to provide for the 364-Day Revolving Credit Facility, in each case, in accordance with the terms and conditions set forth herein; and WHEREAS, the Required Lenders and the Agent are willing to waive the Designated Defaults in accordance with the terms and conditions set forth herein. NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of which are acknowledged, the Borrower, the Guarantors, the 364-Day Revolving Lenders, the Required Lenders and the Agent agree as follows: |
SSL SOUTH, LLC, a Florida limited liability company COMMERCIAL CHANNEL AND DOCK COMPANY, a Texas corporation INDUSTRIAL CHANNEL AND DOCK COMPANY, a Texas corporation KING XXXXXX MARINE SERVICE, LLC, a Texas limited liability company XXXXXXX MARINE CONSTRUCTION, INC., a Georgia corporation X. XXXXXX DREDGING, LLC, a Texas limited liability company ORION CONCRETE CONSTRUCTION, LLC, a Delaware limited liability company XXXXXXXXX E & C COMPANY, INC., a Florida corporation T.A.S. COMMERCIAL CONCRETE CONSTRUCTION, L.L.C., a Delaware limited liability company ERCIAL CONCRETE By: Name:Xxxxxx Xxxx Title: Vice President & Treasurer Orion Signature Page to Sevent h Amendment |
PREFERRED TOOL SERVICES, INC., a Texas corporation ORION MARINE GROUP, LLC, a Texas limited liability company XXXX XXXXXXXX CONCRETE, INC., a Texas corporation (d/b/a TAS Commercial Concrete CTX) ORION CORPRATE SERVICES, LLC, a Texas limited liability company ORION GOVERNMENT SERVICES, LLC, a Washington limited liability company By: Name:Xxxxxx Xxxx Title: Vice President & Treasurer Orion Signature Page to Seventh Amendment |
ANNEX A Amended Credit Agreement [Attached] |