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Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

November 8, 2017


Exhibit 10.1

EXECUTION VERSION


AMENDMENT NO. 4 TO CREDIT AGREEMENT

AMENDMENT NO. 4 TO CREDIT AGREEMENT (this 鈥Amendment鈥), dated as of August听7, 2017, is entered into among BIO-REFERENCE LABORATORIES, INC., a New Jersey corporation (鈥Company鈥), the Subsidiary Borrowers party hereto (鈥Subsidiary Borrowers,鈥 and together with Company, each a 鈥Borrower鈥 and, collectively, the 鈥Borrowers鈥), the other Loan Parties party hereto, the Lenders party hereto, and JPMORGAN CHASE BANK, N.A., as the administrative agent for the Lenders (the 鈥Administrative Agent鈥).
W I T N E S S E T H :
WHEREAS, the Borrowers, the other Loan Parties party thereto, the Lenders party thereto, and the Administrative Agent have executed and delivered that certain Credit Agreement dated as of November 5, 2015, as amended by Amendment No. 1 to Credit Agreement dated as of February听29, 2016, as amended by Amendment No. 2 to Credit Agreement dated as of September听26, 2016, and as amended by Amendment No. 3 to Credit Agreement dated as of March 17, 2017 (as further amended, restated, supplemented, or otherwise modified from time to time prior to the date hereof, the 鈥Credit Agreement鈥); and
WHEREAS, the Borrowers have requested that the Lenders and the Administrative Agent make certain amendments to the Credit Agreement, and the Lenders party hereto, constituting all Lenders under the Credit Agreement, have agreed to such amendments, subject to the terms and conditions hereof.
NOW, THEREFORE, for and in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, each of the Borrowers, the other Loan Parties, the Lenders and the Administrative Agent hereby covenant and agree as follows:
SECTION 1. Definitions. Unless otherwise specifically defined herein, each term used herein (and in the recitals above) which is defined in the Credit Agreement shall have the meaning assigned to such term in the Credit Agreement. As of the date hereof, each reference in the Credit Agreement to 鈥渢his Agreement,鈥 鈥渉ereunder,鈥 鈥渉ereof,鈥 鈥渉erein,鈥 or words of like import, and each reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means of words like 鈥渢hereunder,鈥 鈥渢hereof鈥 and words of like import), shall mean and be a reference to the Credit Agreement, as amended hereby.
SECTION 2. Amendments to Credit Agreement. Effective as of the Amendment No. 4 Effective Date (as defined below), the Credit Agreement is hereby amended as follows:
(补)听听听听Amendments to Section 1.01.
(颈)听听听听Section 1.01 of the Credit Agreement is hereby amended by adding the following definition in appropriate alphabetical order:
Amendment No. 4 Effective Date鈥 means August 7, 2017.

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Special Intercompany Loans鈥 means (i) a loan made within ten (10) days of the Amendment No. 3 Effective Date by the Company to the Parent in an amount not to exceed $55,000,000 and (ii) a loan made on the Amendment No. 4 Effective Date by the Company to the Parent in an amount not to exceed $35,000,000.
(产)听听听听Section 6.04(d) of the Credit Agreement is amended so that it reads, in its entirety, as follows:
(诲)听听听听(i) loans or advances made by any Loan Party to any Subsidiary and made by any Subsidiary to a Loan Party or any other Subsidiary, provided that (A) any such loans and advances made by a Loan Party to a Subsidiary that is not a Loan Party shall be evidenced by a promissory note pledged pursuant to the Security Agreement and (B) the amount of such loans and advances made by Loan Parties to Subsidiaries that are not Loan Parties (together with outstanding investments permitted under clause (B) to the proviso to Section 6.04(c) and outstanding Guarantees permitted under the proviso to Section 6.04(e) and excluding any Special Intercompany Loan) shall not exceed $5,000,000 at any time outstanding (in each case determined without regard to any writedowns or write-offs) and (ii) the Special Intercompany Loans, provided that the Special Intercompany Loans shall each be evidenced by a promissory note pledged pursuant to the Security Agreement;
SECTION 3. Conditions Precedent. This Amendment shall become effective on the date (such date, the 鈥Amendment No. 4 Effective Date鈥) the following conditions precedent shall have been satisfied:
(补)听听听听receipt by the Administrative Agent of signatures to this Amendment from the parties listed on the signature pages hereto; and
(产)听听听听the Administrative Agent shall have received from the Borrowers (or the Administrative Agent shall be satisfied with arrangements made for the payment thereof) all other costs, fees, and expenses owed by the Borrowers to the Administrative Agent in connection with this Amendment, including, without limitation, reasonable attorneys鈥 fees and expenses, in accordance with Section 9.03 of the Credit Agreement.
SECTION 4. Miscellaneous.
(补)听听听听Representations and Warranties. To induce the Administrative Agent and Lenders to enter into this Amendment, the Borrowers hereby represent and warrant to the Administrative Agent and the Lenders that all representations and warranties of the Borrowers contained in Article III of the Credit Agreement or any other Loan Document are true and correct in all material respects with the same effect as though made on and as of the Amendment No. 4 Effective Date (except with respect to representations and warranties made as of an expressed date, which representations and warranties are true and correct in all material respects as of such date).
(产)听听听听No Offset. To induce the Administrative Agent and Lenders to enter into this Amendment, the Borrowers hereby acknowledge and agree that, as of the date hereof, and after giving effect to the terms hereof, there exists no right of offset, defense, counterclaim, claim, or

NAI-1502916559v2 2听听听听2


objection in favor of the Borrowers or arising out of or with respect to any of the loans or other obligations of the Borrowers owed by the Borrowers under the Credit Agreement or any other Loan Document.
(肠)听听听听Loan Document. The parties hereto hereby acknowledge and agree that this Amendment is a Loan Document.
(诲)听听听听Effect of Amendment. Except as set forth expressly hereinabove, all terms of the Credit Agreement and the other Loan Documents shall be and remain in full force and effect, and shall constitute the legal, valid, binding, and enforceable obligations of the Borrowers, enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors鈥 rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.
(别)听听听听No Novation or Mutual Departure. The Borrowers expressly acknowledge and agree that (i) this Amendment does not constitute or establish, a novation with respect to the Credit Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the amendments set forth in Section 2 above, and (ii) nothing in this Amendment shall affect or limit the Administrative Agent鈥檚 or any Lender鈥檚 right to (x) demand payment of the Obligations under, or demand strict performance of the terms, provisions and conditions of, the Credit Agreement and the other Loan Documents (in each case, as amended hereby), as applicable, (y) exercise any and all rights, powers, and remedies under the Credit Agreement or the other Loan Documents (in each case, as amended hereby) or at law or in equity, or (z) do any and all of the foregoing, immediately at any time during the occurrence of an Event of Default and in each case, in accordance with the terms and provisions of the Credit Agreement and the other Loan Documents.
(蹿)听听听听Counterparts. This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same instrument. This Amendment may be executed by each party on separate copies, which copies, when combined so as to include the signatures of all parties, shall constitute a single counterpart of this Amendment.
(驳)听听听听Fax or Other Transmission. Delivery by one or more parties hereto of an executed counterpart of this Amendment via facsimile, telecopy, or other electronic method of transmission pursuant to which the signature of such party can be seen (including, without limitation, Adobe Corporation鈥檚 Portable Document Format) shall have the same force and effect as the delivery of an original executed counterpart of this Amendment. Any party delivering an executed counterpart of this Amendment by facsimile or other electronic method of transmission shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability, or binding effect of this Amendment.
(丑)听听听听Recitals Incorporated Herein. The preamble and the recitals to this Amendment are hereby incorporated herein by this reference.

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(颈)听听听听Section References. Section titles and references used in this Amendment shall be without substantive meaning or content of any kind whatsoever and are not a part of the agreements among the parties hereto evidenced hereby.
(箩)听听听听Governing Law. This Amendment shall be governed by and construed in accordance with the internal laws (and not the law of conflicts) of the State of New York, but giving effect to federal laws applicable to national banks.
(办)听听听听Severability. Any provision of this Amendment which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability of such provision in any other jurisdiction.
(濒)听听听听Reaffirmation of Loan Parties. Each Loan Party (i) consents to the execution and delivery of this Amendment, (ii) reaffirms all of its obligations and covenants under the Loan Documents (including, without limitation, the Collateral Documents and the Loan Guaranty) to which it is a party, and (iii) agrees that, except to the extent amended hereby, none of its respective obligations and covenants under the Loan Documents shall be reduced or limited by the execution and delivery of this Amendment.
[SIGNATURES ON FOLLOWING PAGES.]


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IN WITNESS WHEREOF, the Borrowers, the other Loan Parties, the Administrative Agent and the Lenders have caused this Amendment to be duly executed by their respective duly authorized officers as of the day and year first above written.

BORROWERS:
BIO-REFERENCE LABORATORIES, INC.
GENEDX, INC.
FLORIDA CLINICAL LABORATORY, INC.
MERIDIAN CLINICAL LABORATORY
CORP.
By:
/s/ Adam Logal
Name:
Adam Logal
Title:
Senior Vice President



OTHER LOAN PARTIES
CAREEVOLVE.COM, INC.
BRLI-GENPATH IAGNOSTICS, INC.
GENEDX MENA LLC
By:
/s/ Adam Logal
Name:
Adam Logal
Title:
Senior Vice President


[BRLI 鈥 Amendment No. 4 to Credit Agreement]


JPMORGAN CHASE BANK, N.A.
Individually as a Lender and as Administrative
Agent, Issuing Bank and Swingline Lender
By:
/s/ Eric A. Anderson
Name:
Eric A. Anderson
Title:
Authorized Officer


[BRLI 鈥 Amendment No. 4 to Credit Agreement]