LIMITED WAIVER, CONSENT AND SEVENTH AMENDMENT TO CREDIT AND SECURITY AGREEMENTCredit and Security Agreement • April 19th, 2018 • Perma-Pipe International Holdings, Inc. • Industrial & commercial fans & blowers & air purifing equip • Illinois
THIS LIMITED WAIVER, CONSENT AND SEVENTH AMENDMENT TO CREDIT AND SECURITY AGREEMENT (this "Seventh Amendment") is entered into as of December 14, 2017, among PERMA-PIPE INTERNATIONAL HOLDINGS, INC., (PREVIOUSLY MFRI, INC.), a Delaware corporation (the "Company"), MIDWESCO FILTER RESOURCES, INC., a Delaware corporation ("Midwesco"), PERMA-PIPE, INC., a Delaware corporation ("Perma-Pipe"), MM NILES CORPORATION, a Delaware corporation ("MM Niles"), and PERMA-PIPE CANADA, INC., a Delaware corporation ("Perma-Pipe Canada") (each of the Company, Midwesco, Perma-Pipe, TC Niles, MM Niles, and Perma-Pipe Canada may be referred to herein individually, as a "US Borrower" and collectively, as "US Borrowers"), and PERMA-PIPE CANADA LTD., an Alberta corporation ("PP Canada Operating") (PP Canada Operating may be referred to herein as a "Canadian Borrower") and BANK OF MONTREAL, as lender ("Lender"). US Borrowers and Canadian Borrower may be referred to herein individually, as a "Borrower" and collec
