Exhibit 10.10
EXECUTION VERSION
AMENDMENT NO. 3 TO FIRST LIEN CREDIT AGREEMENT
This Amendment No. 3 to First Lien Credit Agreement (this “Amendment No. 3”) is dated as of March 1, 2018, by and among BrightView Acquisition Holdings, Inc., a Delaware corporation (“Holdings”, a successor to Garden Acquisition Holdings, Inc.), BrightView Landscapes, LLC, a Delaware limited liability company (the “Borrower”, a successor to Garden Merger Sub, LLC) and Morgan Stanley Senior Funding, Inc., as administrative agent for the Lenders (the “Administrative Agent”) under the First Lien Credit Agreement, dated as of December 18, 2013 (as amended, restated or otherwise modified from time to time, the “Credit Agreement”) amonginter alios Holdings, the Borrower, the Administrative Agent and the Lenders party thereto.
WHEREAS, the Borrower is changing its fiscalyear-end from December 31 to September 30 (the “Fiscal Year Modification”), and pursuant to Section 9.10 of the Credit Agreement, Holdings and the Administrative Agent are authorized by the Lenders to make any adjustments to the Credit Agreement that are necessary in order to reflect the Fiscal Year Modification;
NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein contained and for other valuable considerations, the parties hereto agree as follows:
Section 1.Definitions. Each capitalized term used herein and not otherwise defined in this Amendment No. 3 shall be defined in accordance with the Credit Agreement, and section references shall be references to the applicable sections in the Credit Agreement unless otherwise specified.
Section 2.Amendments to Credit Agreement. Effective as of the Amendment No. 3 Effective Date (as defined below), the Credit Agreement is hereby amended as follows:
2.1 Amendments to Section 1.1. (a) The definition of Asset Sale Prepayment Event is hereby amended by adding the following proviso at the end thereof:
“;provided that for the fiscal year of Holdings ending September 30, 2018, Net Cash Proceeds during the fiscal quarter ended December 31, 2017, shall be excluded from such calculation”
(b) The definition of Casualty Event is hereby amended by adding the following proviso at the end thereof:
“;provided that for the fiscal year of Holdings ending September 30, 2018, Net Cash Proceeds during the fiscal quarter ended December 31, 2017, shall be excluded from such calculation”
2.2Amendment to Section 5.2(a)(ii). Section 5.2(a)(ii) is hereby amended by adding the following provision at the end thereof:
“ ;provided, that (i) no Excess Cash Flow payment hereunder shall be required for the fiscal year ended September 30, 2017, (ii) the Excess Cash Flow payment, if any, that would have been required to be made hereunder in respect of the fiscal year of Holdings ended December 31, 2017, if the fiscalyear-end of Holdings had not been changed to September 30, shall be paid in respect of such period of four fiscal quarters ended December 31, 2017, no later than it would have been required to be made in respect of the fiscal year if it had ended on December 31, 2017, and (iii)