EX-10.6 7 tv509357_ex10-6.htm EXHIBIT 10.6

 

Exhibit 10.6

 

EXECUTION VERSION

 

December 13, 2018

 

Wells Fargo Bank, National Association, as Administrative Agent, Swingline Lender and an Institutional Lender

 

Wells Fargo Bank, National Association, as Collateral Agent, Account Bank and Collateral Custodian

 

State Street Bank and Trust Company, as an Institutional Lender

 

ZB, N.A. D/B/A California Bank & Trust, as an Institutional Lender

 

GC Advisors LLC, as Servicer

 

Golub Capital Investment Corporation, as Transferor

 

Re:       Termination and Release of Security Interest

 

Ladies and Gentlemen:

 

Reference is made to (a) that certain Amended and Restated Loan and Servicing Agreement, dated as of May 13, 2015 (as amended, modified, supplemented or restated from time to time, the “LSA”), by and among GCIC FUNDING LLC, as the borrower (the “Borrower”), GC ADVISORS LLC, as the servicer (the “Servicer”), GOLUB CAPITAL INVESTMENT CORPORATION, as the transferor (the “Transferor”), the Institutional Lenders identified on the signature pages hereto, WELLS FARGO BANK, National Association, as the Swingline Lender, WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Collateral Agent, the Account Bank and the Collateral Custodian (in such capacities, the “Bank”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Administrative Agent (in such capacity, the “Administrative Agent”). Capitalized terms used but not defined herein shall have the meanings provided in the LSA.

 

The Borrower hereby requests, pursuant to Section 2.16 of the LSA, the release from each Lien of the Secured Parties of all Collateral comprising the Loan Assets listed on Schedule I and all other Collateral related thereto (the “Released Collateral”). Accordingly, each party hereto acknowledges and agrees that, upon (x) delivery of a Notice of Reduction, (y) the payment of $275,000,000 of principal (the “Prepayment Amount”) to the Lenders and (z) confirmation that no Unmatured Event of Default or Event of Default has occurred and is continuing, any and all Liens at any time granted to or held by the Secured Parties in and to the Released Collateral shall automatically be terminated and released without further action on the part of any party hereto.

 

 

 

 

Notwithstanding the foregoing, each Secured Party agrees that the release specified above of each Loan Asset listed on Part A of Schedule I (the “Specified Loan Assets”) shall be deemed to occur immediately prior to the sale, assignment or other transfer of such Specified Loan Assets in accordance with the satisfaction of each condition precedent to the closing of the Term Securitization on the date hereof. If such Term Securitization does not occur on the date hereof, the release set forth above shall be deemed to be rescinded without further action by any person, the Liens over the Specified Loan Assets in favor of the Secured Parties shall be deemed to be continuing and the Borrower shall be deemed to grant a new Lien over the Specified Loan Assets in accordance with the LSA.

 

In addition, each Secured Party agrees to waive any required reduction of the Commitment of Wells Fargo pursuant to Section 2.18(d) of the LSA that exceeds the Prepayment Amount. After giving effect hereto (and any reduction under 2.18(d) on the date hereof), the Wells Fargo Commitment is $200,000,000.

 

This letter (i) will be governed by and construed in accordance with the law of the State of New York and (ii) may be executed in any number of counterparts by facsimile or other written form of communication, each of which shall be deemed to be an original as against any other party whose signature appears thereon, and all which shall together constitute one and the same instrument.

 

[Signature Pages Follow]

 

Collateral Release Letter

 

 

 

 

Please indicate your agreement with the foregoing by executing a counterpart hereof.

 

  GCIC FUNDING LLC
   
  By: Golub Capital Investment Corporation, its designated manager
   
  By: /s/ Ross A. Teune
    Name: Ross A. Teune
    Title: Chief Financial Officer

 

Collateral Release Letter

 

 

 

 

Acknowledged and Agreed to:

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

as Administrative Agent

 

By: /s/ Beale Pope  
  Name: Beale Pope  
  Title: Vice President  

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

as a Swingline Lender and an Institutional Lender

 

By: /s/ Matt Jensen  
  Name: Matt Jensen  
  Title: Director  

 

Collateral Release Letter

 

 

 

 

State Street Bank and Trust Company

as an Institutional Lender

 

By: /s/ Pallo Blum-Tucker  
  Name: Pallo Blum-Tucker  
  Title: Managing Director  

 

Collateral Release Letter

 

 

 

 

ZB, N.A. D/B/A CALIFORNIA BANK & TRUST

as an Institutional Lender

 

By: /s/ Christopher J. Edwards  
  Name: Christopher J. Edwards  
  Title: Executive Vice President  

 

Collateral Release Letter

 

 

 

 

GC ADVISORS LLC

as the Servicer

 

By: /s/ Joshua M. Levinson  
  Name: Joshua M. Levinson  
  Title: Co-General Counsel and Chief Compliance Officer

 

Collateral Release Letter

 

 

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Collateral Agent, Account Bank and Collateral Custodian

 

By: /s/ Keri Krause  
  Name: Keri Krause  
  Title: Vice President  

 

Collateral Release Letter

 

 

 

 

GOLUB CAPITAL INVESTMENT CORPORATION, as Transferor

 

By: /s/ Ross A. Teune  
  Name: Ross A. Teune  
  Title: Chief Financial Officer  

 

Collateral Release Letter

 

 

 

 

SCHEDULE I

 

RELEASED LOAN ASSETS

 

Part A:

 

Obligor  Asset  Principal Balance 
Appriss Holdings, Inc.  Term Loan   10,000,000 
Bazaarvoice, Inc.  Term Loan   10,500,000 
Clarkson Eyecare LLC  Term Loan   10,000,000 
Imprivata, Inc.  Term Loan   10,000,000 
RXH Buyer Corporation  Term Loan   7,000,000 

 

Part B:

 

Obligor  Asset  Principal Balance 
Accela, Inc.  Term B Loan   6,665,372 
Active Day, Inc.  DDTL-2   567,260 
Active Day, Inc.  DDTL-3   391,925 
Active Day, Inc.  Term Loan   6,521,268 
Acuity Eyecare Holdings, LLC  Term A Loan   3,426,047 
ADCS Clinics Intermediate Holdings, LLC  DDTL-1   107,199 
ADCS Clinics Intermediate Holdings, LLC  Term Loan   10,000,000 
Agilitas USA, Inc.  Term Loan   1,950,994 
Aimbridge Hospitality, LLC  Term Loan A   1,537,280 
Batteries Plus Holding Corporation  Initial Term Loan   2,224,150 
BIOIVT, LLC (formerly BIORECLAMATIONIVT, LLC)  Term Loan   10,572,708 
C. J. Foods, Inc.  Term Loan A   5,000,000 
Cafe Rio Holding, Inc.  Term Loan   5,141,082 
Caliper Software, Inc.  Initial Term Loan   7,024,585 
Captain D's, LLC  Term Loan   2,218,254 
Captive Resources Midco, LLC  Term Loan   5,121,137 
Clearwater Analytics, LLC  Tranche B Term Loan   2,408,325 
Daxko Acquisition Corporation  Term Loan   8,318,082 
DCA Investment Holding, LLC  Second Amendment Term Loan   4,865,700 
Diligent Corporation  Tranche B-1 Term Loans   4,606,441 
Diligent Corporation  Tranche B-2 Term Loans   7,786,870 

 

Schedule I

 

 

 

 

Drilling Info Holdings, Inc.  First Lien Term Loan   5,948,500 
DTLR, Inc. (fka Levtran)  Term Loan A (2017)   5,000,000 
EGD Security Systems, LLC  Term Loan   5,371,500 
Elite Dental Partners LLC  Term A Loan   2,013,953 
ERG Buyer, LLC  Term Loan   6,342,105 
eSolutions, Inc.  Term Loan   6,000,000 
Eyecare Services Partners Holdings LLC  DDTL-1   953,371 
Eyecare Services Partners Holdings LLC  DDTL-2   6,679,425 
Eyecare Services Partners Holdings LLC  DDTL-3   1,082,141 
Flavor Producers, LLC  First Lien Term Loan   2,836,823 
G & H Wire Company, Inc  Term Loan (2017)   1,104,187 
Georgica Pine Clothiers, LLC  Closing Date Earn-Out Term Loan   421,351 
Global ID Corporation  Term A Loan   5,102,133 
GS Acquisitionco, Inc.  DDTL-1   12,139,096 
GS Acquisitionco, Inc.  Term Loan   5,000,000 
HealthcareSource HR, Inc.  Term Loan   2,861,397 
Inhance Technologies Holdings LLC  Term Loan   6,048,500 
Internet Pipeline, Inc.  June 2017 Incremental Term Loans   1,442,935 
Internet Pipeline, Inc.  Term Loan   5,360,994 
Katena Holdings, Inc.  Second Amendment Term Loan   300,960 
Lombart Brothers, Inc.  Canadian Term A Loan (Innova)   1,534,531 
Lombart Brothers, Inc.  US Term A Loan   3,343,079 
Marshall Retail Group LLC, The  Term Loan (2014)   3,123,594 
Maverick Bidco Inc.  Term Loan   10,000,000 
Mid-America Pet Food, L.L.C.  Term Loan   6,331,338 
Mills Fleet Farm Group LLC  New First Lien Term Loan   12,000,000 
MMan Acquisition Co.  Initial Term Loan   12,388,167.00 
MRI Software LLC  Second Amendment Term Loan   345,390.00 
MRI Software LLC  Term Loan (2017)   14,690,543.75 

 

Schedule I

 

 

 

 

MWD Management, LLC & MWD Services, Inc. (United Derm)  DDTL-1   4,380,973.63 
MWD Management, LLC & MWD Services, Inc. (United Derm)  Term Loan   1,295,205.00 
NBC Intermediate, LLC  Second Amendment Term Loan   1,386,590.00 
Net Health Acquisition Corp.  New Term Loan   679,700.00 
Net Health Acquisition Corp.  Term Loan   4,872,778.00 
Nextech Systems, LLC  Term Loan   12,655,902.50 
Nexus Brands Group, Inc.  Term Loan   3,820,402.00 
Orthotics Holdings, Inc  Canadian Term Loan   599,390.45 
Orthotics Holdings, Inc  US Term Loan   3,656,259.55 
Pace Analytical Services, LLC  First Amendment Term Loan   1,400,966.25 
Pace Analytical Services, LLC  Third Amendment Term Loan   833,400.00 
PADI Holdco, Inc.  Term Loan   12,636,711.12 
Pet Holdings ULC  Initial Term Loan Commitment   10,000,000.00 
Pinnacle Treatment Centers, Inc.  Term Loan   9,649,374.00 
Property Brands, Inc.  Term Loan   9,380,713.00 
Quick Quack Car Wash Holdings, LLC  Term A Loan   4,599,871.50 
Quickbase, Inc.  Tranche B Term Loan   10,000,000.00 
Reladyne, Inc.  Term Loan (NEW)   3,049,673.66 
Riverchase MSO, LLC  Term Loan   950,647.95 
Saba Software, Inc.  Term Loan   7,000,000.00 
SEI, Inc.  Term Loan   2,879,602.33 
Self Esteem Brands, LLC (aka Anytime Fitness)  Term Loan   2,733,331.40 
SLMP, LLC  Term Loan A   4,700,994.58 
Source Refrigeration & HVAC, Inc.  Term A Loan   7,236,962.25 
Southern Veterinary Partners, LLC  DDTL-1   3,606,672.46 
Southern Veterinary Partners, LLC  DDTL-2   1,038,904.32 
Southern Veterinary Partners, LLC  Term Loan   1,572,824.68 
Sovos Compliance Formerly Taxware, LLC  Term Loan (2016)   5,000,000.00 
Summit Behavioral Healthcare, LLC  Term Loan   2,400,659.00 
Sunshine Sub, LLC  Term Loan   5,468,494.50 
Teaching Company, The  Term Loan   4,112,958.28 
Telesoft, LLC  Term Loan   5,286,006.00 

 

Schedule I

 

 

 

 

Titan Fitness, LLC  Delayed Draw Term B Loan   255,486.00 
Togetherwork Holdings, LLC  Supplemental Term Loan   680,300.00 
Togetherwork Holdings, LLC  Term Loan   6,725,105.50 
Transaction Data Systems, Inc.  Amendment No.4 Term Loan   5,000,000.00 
Trintech, Inc.  Restatement Combined TL   3,368,375.55 
True Commerce, Inc.  US Term Loan   7,107,689.50 
Velocity Technology Solutions, Inc.  Term Loan   7,432,062.94 
Verisys Corporation  Term Loan   4,756,565.00 
Veterinary Specialists of North America, LLC  DDTL-1   32,668.05 
Veterinary Specialists of North America, LLC  Term Loan New   3,105,994.44 
Wetzel's Pretzels, LLC  Term Loan   2,523,215.12 
Whitcraft LLC  Initial Term Loan   12,163,998.63 
WIRB-Copernicus Group, Inc.  Initial Term Loan   10,428,572.61 
Wood Fired Holding Corp.  Term A Loan   7,298,200.00 
WRE Holding Corp.  Term Loan   1,308,795.11 

 

Schedule I