EXHIBIT 10.29
EIGHTH AMENDMENT TO CREDIT AGREEMENT
This EIGHTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of February 6, 2023 (the “Eighth Amendment Effective Date”), is entered into by and among HERITAGE INSURANCE HOLDINGS, INC., a Delaware corporation (the “Borrower”), the Guarantors (here and hereafter as defined in the Credit Agreement (here and hereafter as defined below)), the Lenders (here and hereafter as defined in the Credit Agreement), and Regions Bank (“Regions”), in its capacities as Administrative Agent and Collateral Agent.
R E C I T A L S
WHEREAS, the Borrower, the Guarantors from time to time party thereto, the Lenders from time to time party thereto, and Regions, as Administrative Agent and Collateral Agent, are parties to that certain Credit Agreement, dated as of December 14, 2018 (as amended by that certain First Amendment to Credit Agreement, dated as of May 17, 2019, as further amended by that certain Second Amendment to Credit Agreement, dated as of April 27, 2020, as further amended by that certain Third Amendment to Credit Agreement, dated as of June 1, 2020, as further amended by that certain Fourth Amendment to Credit Agreement, dated as of March 24, 2021, as further amended and extended by that certain Fifth Amendment to Credit Agreement, dated as of July 28, 2021, as further modified by that certain Consent and Release Agreement, dated as of December 1, 2021, as further amended by that certain Sixth Amendment to Credit Agreement, dated as of May 4, 2022, as further amended by that certain Seventh Amendment to Credit Agreement, dated as of November 7, 2022, and as further amended, restated, amended and restated, supplemented, increased, extended, refinanced, renewed, replaced, and/or otherwise modified in writing from time to time, the “Credit Agreement”);
WHEREAS, the Credit Parties, the Administrative Agent and the Collateral Agent desire to correct the technical omission in the Credit Agreement identified in Section 2 below;
NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, each of the parties hereto hereby agrees as follows:
A G R E E M E N T
“Floor” shall mean a rate of interest equal to zero percent (0.00%) per annum (subject to the proviso to the last sentence of Section 3.1(g)(v)).
CHAR1\1968718v2 Eighth Amendment to Credit Agreement (Heritage Insurance Holdings, Inc.)
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ARISING OUT OF, OR RELATING TO THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH, AND BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK.
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IN WITNESS WHEREOF, each of the parties hereto have caused this Amendment to be duly executed and delivered by its below respective duly authorized officer as of the Eighth Amendment Effective Date, intending to create an instrument under seal.
BORROWER: HERITAGE INSURANCE HOLDINGS, INC.,
By: /s/ KIRK LUSK (Seal)
Name: Kirk Lusk
Title: Chief Financial Officer
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Signature Page to Eighth Amendment to Credit Agreement (Heritage Insurance Holdings, Inc.)
ADMINISTRATIVE AGENT
AND COLLATERAL AGENT: REGIONS BANK,
as Administrative Agent and Collateral Agent
By: /s/ CRAIG CUTRO (Seal)
Name: Craig Cutro
Title: Director
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Signature Page to Eighth Amendment to Credit Agreement (Heritage Insurance Holdings, Inc.)