Exhibit 4.1
EXECUTION VERSION
TWELFTH AMENDMENT TO CREDIT AGREEMENT
This Twelfth Amendment to Credit Agreement (this “Amendment”) is entered into as of June 15, 2023, by and among SILVERCREST ASSET MANAGEMENT GROUP LLC, a Delaware limited liability company (“Silvercrest”), SILVERCREST INVESTORS LLC, a Delaware limited liability company (“Silvercrest Investors”), SILVERCREST INVESTORS II LLC, a Delaware limited liability company (“Silvercrest Investors II”), SILVERCREST FINANCIAL SERVICES, INC., a New York corporation (“Silvercrest Financial”, and together with Silvercrest, Silvercrest Investors, and Silvercrest Investors II, each, a “Borrower”, and collectively, “Borrowers”), and CITY NATIONAL BANK, a national banking association (“Lender”).
RECITALS
A. Borrowers and Lender are parties to that certain Credit Agreement, dated as of June 24, 2013 (as heretofore amended, supplemented or otherwise modified, the “Credit Agreement”).
B. As of the date hereof, the aggregate principal amount of all Revolving Loans outstanding under the Credit Agreement is $0, the amount of Letter of Credit Usage is $585,667 and the aggregate principal amount of all Term Loans outstanding under the Credit Agreement is $4,500,000.
C. Borrowers have requested that the Credit Agreement be amended, and Lender is willing to agree to such amendment on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the premises and the other mutual covenants contained herein, the receipt and sufficiency of which hereby are acknowledged, the parties hereto agree as follows:
““Revolving Credit Maturity Date” means the earlier of (a) June 18, 2024 and (b) such earlier date on which the Obligations shall become due and payable in accordance with the terms of this Agreement and the other Loan Documents.”
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and year first above written.
BORROWERS:
SILVERCREST ASSET MANAGEMENT GROUP LLC,
a Delaware limited liability company
SILVERCREST INVESTORS LLC,
a Delaware limited liability company
SILVERCREST INVESTORS II LLC,
a Delaware limited liability company
By: SILVERCREST L.P.,
a Delaware limited partnership,
its Managing Member
By: SILVERCREST ASSET
MANAGEMENT GROUP INC.,
a Delaware corporation,
its General Partner
By: /s/ Scott A. Gerard
Name: Scott Gerard
Title: Chief Financial Officer
SILVERCREST FINANCIAL SERVICES, INC., a New York corporation
By: /s/ Scott A. Gerard
Name: Scott Gerard
Title: Chief Financial Officer
[Twelfth Amendment to Credit Agreement]
/ | LENDER: CITY NATIONAL BANK
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[Twelfth Amendment to Credit Agreement]
ACKNOWLEDGMENT AND AGREEMENT OF GUARANTOR
AND OBLIGOR
The undersigned, being a Guarantor pursuant to a General Continuing Guaranty, dated as of June 24, 2013 (the “Guaranty”), executed by the undersigned in favor of City National Bank (“Lender”), and an Obligor pursuant to an Intercompany Subordination Agreement, dated as of June 24, 2013 (the “Subordination Agreement”), hereby (i) acknowledges receipt of the foregoing Amendment; (ii) consents to the terms and execution, delivery and performance thereof; (iii) reaffirms all obligations to Lender pursuant to the terms of the Guaranty and Subordination Agreement; and (iv) acknowledges that Lender may amend, restate, extend, renew or otherwise modify the Loan Documents and any indebtedness or agreement of the Borrowers, or enter into any agreement or extend additional or other credit accommodations, without notifying or obtaining the consent of the undersigned and without impairing the obligations of the undersigned under the Guaranty or Subordination Agreement.
SILVERCREST L.P.,
a Delaware limited partnership
By: SILVERCREST ASSET MANAGEMENT
GROUP INC.,
a Delaware corporation,
its General Partner
By: /s/ Scott A. Gerard
Name: Scott Gerard
Title: Chief Financial Officer
[Twelfth Amendment to Credit Agreement]