Exhibit 10.3
AMENDMENT NO. 3 TO CREDIT AGREEMENT
AMENDMENT NO. 3 TO CREDIT AGREEMENT, dated as of September 7, 2023 (this “Amendment”), among ADVANCED ENERGY INDUSTRIES, INC., a Delaware corporation (the “Borrower”), each of the Guarantors party hereto, BANK OF AMERICA, N.A., as Administrative Agent (in such capacity and including any permitted successor or assign, the “Administrative Agent”), and the Lenders party hereto.
W I T N E S S E T H:
WHEREAS, the Borrower, the Guarantors, the Lenders and the Administrative Agent entered into a Credit Agreement, dated as of September 10, 2019 (as amended by Amendment No. 1, dated as of September 9, 2021, Amendment No. 2, dated as of March 31, 2023 and as may be further amended, restated, amended and restated, supplemented or otherwise modified through the date hereof, the “Credit Agreement”; capitalized terms used herein but not otherwise defined herein shall have the meanings given such terms in the Credit Agreement);
WHEREAS, Section 11.01 of the Credit Agreement permits the Borrower to amend the Credit Agreement with the consent of the Required Lenders;
WHEREAS, pursuant to Section 11.01 of the Credit Agreement, the Borrower has requested that the Credit Agreement be amended as set forth herein;
WHEREAS, the Administrative Agent, the Borrower, each Guarantor and Lenders constituting the Required Lenders have agreed to make the amendments to the Credit Agreement as set forth in Article I of this Amendment.
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
Amendments
Subject to the occurrence of the Amendment No. 3 Effective Date, the Credit Agreement is, effective as of the Amendment No. 3 Effective Date, hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Credit Agreement attached as Exhibit A hereto (the “Amended Credit Agreement”).
Conditions to Effectiveness
Representations and Warranties.
Miscellaneous
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