Tenth Amendment to Revolving Credit Agreement among WCA Waste Corporation, Comerica Bank, and Lenders

Contract Categories: Business Finance › Modification Agreements
Summary

This agreement is the tenth amendment to a revolving credit agreement originally made between WCA Waste Corporation and Comerica Bank, along with other lenders. The amendment, effective December 31, 2009, updates certain terms of the original credit agreement, specifically replacing a schedule and reaffirming the parties’ obligations. WCA Waste Corporation, its guarantors, and the lenders agree to the changes, confirm that no defaults exist, and acknowledge that all other terms remain in effect. The borrower is responsible for related expenses. The amendment is binding on all parties and their successors.

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EX-10.1 2 h69224exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
TENTH AMENDMENT TO REVOLVING CREDIT AGREEMENT
     This Tenth Amendment to Revolving Credit Agreement (“Amendment”) is made as of December 31, 2009 (“Effective Date”) among WCA WASTE CORPORATION, a Delaware corporation (“Borrower”) and COMERICA BANK, a Texas banking association (“Comerica”), in its capacity as Agent under the Credit Agreement, as defined below (in such capacity, “Agent”), and in its capacity as a Lender under the Credit Agreement and the “Lenders” from time to time party thereto (the “Lenders”).
PRELIMINARY STATEMENT
     The Borrower and Agent entered into a Revolving Credit Agreement dated July 5, 2006, as amended by Amendment to Revolving Credit Agreement dated as of July 28, 2006, Second Amendment to Revolving Credit Agreement dated as of September 25, 2006, Third Amendment to Revolving Credit Agreement dated as of November 20, 2006, Fourth Amendment to Revolving Credit Agreement dated as of January 24, 2007, Fifth Amendment to Revolving Credit Agreement dated as of March 13, 2007, Sixth Amendment to Revolving Credit Agreement dated as of July 27, 2007, Seventh Amendment to Revolving Credit Agreement dated as of December 27, 2007, Eighth Amendment to Revolving Credit Agreement dated as of October 22, 2008, and Ninth Amendment to Revolving Credit Agreement dated as of February 19, 2009 (“Credit Agreement”) providing terms and conditions governing certain loans and other credit accommodations extended by the Agent to Borrower (“Indebtedness”).
     Borrower, Agent and the Lenders constituting the Required Lenders have agreed to amend the terms of the Credit Agreement as provided in this Amendment.
AGREEMENT
     1. Defined Terms. In this Amendment, capitalized terms used without separate definition shall have the meanings given them in the Credit Agreement.
     2. Amendments.
          a. Schedule 7.14 of the Credit Agreement is hereby replaced with Schedule 7.14 attached hereto.
     3. Representations and Warranties. The Borrower represents, warrants, and agrees that:
          a. This Amendment may be executed in as many counterparts as Agent, the Lenders and the Borrower deem convenient, and shall become effective upon delivery to Agent of all executed counterparts hereof from Lenders constituting the Required Lenders and from Borrower and each of the Guarantors.
          b. Except as expressly modified in this Amendment, the representations, warranties, and covenants set forth in the Credit Agreement and in each related document, agreement, and instrument remain true and correct, continue to be satisfied in all respects, and are legal, valid and binding obligations with the same force and effect as if entirely restated in this Amendment.
          c. When executed, the Agreement, as amended by this Amendment will continue to constitute a duly authorized, legal, valid, and binding obligation of the Borrower enforceable in accordance with its terms.

 

 

          d. There is no Default or Event of Default existing under the Credit Agreement, or any related document, agreement, or instrument.
          e. The Certificate of Incorporation, Amended and Restated Bylaws and Resolution and Incumbency Certificate of the Borrower delivered to Agent in connection with the Credit Agreement on or about July 5, 2006, have not been repealed, amended or modified since the date of delivery thereof and that same remain in full force and effect; provided however that the Amended and Restated Bylaws have been amended and restated by the Second Amended and Restated Bylaws of the Borrower dated as of June 18, 2007.
     4. Successors and Assigns. This Amendment shall inure to the benefit of and be binding upon the parties and their respective successors and assigns.
     5. Other Modification. In executing this Amendment, the Borrower is not relying on any promise or commitment of Agent or the Lenders that is not in writing signed by Agent and the Lenders.
     6. Acknowledgment and Consent of Guarantors. By signing below, each of the Guarantors acknowledges and consents to the execution, delivery and performance of this Amendment.
     7. Expenses. Borrower shall promptly pay all out-of-pocket fees, costs, charges, expenses, and disbursements of Agent and the Lenders incurred in connection with the preparation, execution, and delivery of this Amendment, and the other documents contemplated by this Amendment.
[Signature Page Follows]

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     This Tenth Amendment to the Revolving Credit Agreement is executed and delivered on the Effective Date.
         
COMERICA BANK, as Administrative Agent
and Collateral Agent
 		  
By:   /s/ Michael R. Schmidt    
  Michael R. Schmidt   
  Its:  Vice President   
 

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[Guaranty Bank Signature Page]
COMPASS BANK, successor in interest to GUARANTY BANK, as Syndication Agent and a Lender
         
   
By:   /s/    
  Its: Vice President   
     
 

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[Allied Irish Banks Signature Page]
         
ALLIED IRISH BANKS, plc,
as a Lender
 		  
By:      
  Its:   
   
 
By:      
  Its:   
     
 

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[Compass Bank Signature Page]
         
COMPASS BANK, as a Lender
 		  
By:   /s/    
  Its: Vice President   
     
 

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[Union Bank Signature Page]
         
UNION BANK, N.A., as a Lender
 		  
By:   /s/ Stephen W. Dunne    
  Its: Vice President   
       
 

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[Bank of Texas Signature Page]
         
BANK OF TEXAS, NATIONAL ASSOCIATION,
as a Lender
 		  
By:   /s/ Jeremy Jackson    
  Its: Vice President   
       
 

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[Mercantil CommerceBank Signature Page]
         
MERCANTIL COMMERCEBANK, NA, as a Lender
 		  
By:      
  Its:   
       
     
By:      
  Its:   
       
 

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[Wachovia Bank Signature Page]
         
WACHOVIA BANK, NATIONAL ASSOCIATION,
as a Lender
 		  
By:   /s/ John E. Elam, Jr.    
  Its: Senior Vice President   
       
 

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[Webster Bank Signature Page]
         
WEBSTER BANK, NATIONAL ASSOCIATION,
as a Lender
 		  
By:   /s/ Stephen J. Corcoran    
  Its: Senior Vice President   
       
 

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  WCA WASTE CORPORATION, as Borrower
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA HOLDINGS CORPORATION, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA WASTE SYSTEMS, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA OF ALABAMA, L.L.C., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA SHILOH LANDFILL, L.L.C., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WASTE CORPORATION OF KANSAS, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WASTE CORPORATION OF TENNESSEE, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
[Signatures Continue on the Following Page]

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[Continuation of Signature Page of the Acknowledgement and Consent of Guarantors]
         
  WCA OF FLORIDA, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA OF CENTRAL FLORIDA, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  TRANSIT WASTE, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WASTE CORPORATION OF MISSOURI, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  EAGLE RIDGE LANDFILL, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA TEXAS MANAGEMENT GENERAL, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WASTE CORPORATION OF TEXAS, L.P., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 

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[Continuation of Signature Page of the Acknowledgement and Consent of Guarantors]
         
  TEXAS ENVIRONMENTAL WASTE SERVICES, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA MANAGEMENT LIMITED, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA MANAGEMENT GENERAL, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA MANAGEMENT COMPANY, LP, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA OF NORTH CAROLINA, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  MATERIAL RECOVERY, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 

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[Continuation of Signature Page of the Acknowledgement and Consent of Guarantors]
         
  WCA WAKE TRANSFER STATION, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA OF HIGH POINT, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  MATERIAL RECLAMATION, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  BURNT POPLAR TRANSFER, L.L.C., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
 
  WCA CAPITAL, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WASTE CORPORATION OF ARKANSAS, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  TRANSLIFT, INC., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 

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[Continuation of Signature Page of the Acknowledgement and Consent of Guarantors]
         
  WCA OF ST. LUCIE, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA OF OKLAHOMA, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  AMERICAN WASTE, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  N.E. LANDFILL, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  PAULS VALLEY LANDFILL, LLC, as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  SOONER WASTE, L.L.C., as a Guarantor
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  RUFFINO HILLS TRANSFER STATION, LP
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 

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  FORT BEND REGIONAL LANDFILL, LP
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA OF MASSACHUSETTS, LLC
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 
  WCA OF OHIO, LLC
 		  
  By:   /s/ Joseph J. Scarano, Jr.    
    Its: Vice President   
       
 

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SCHEDULE 7.14
SUBSIDIARIES
         
Subsidiary   Chief Executive Office   Principal Location
WCA Holdings Corporation
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA Waste Systems, Inc.
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
Waste Corporation of Arkansas, Inc.
   One Riverway, Suite 1400
   Rolling Meadows Landfill
 
   Houston, Texas 77056   RT. 1 Box 160X Hamric Rd.
 
       Hazen, Arkansas 72064
 
        
Waste Corporation of Kansas, Inc.
   One Riverway, Suite 1400
   1150 East 700 Avenue
(formerly Oak Grove Landfill, Inc.)
   Houston, Texas 77056   Arcadia, Kansas 66711
 
        
Waste Corporation of Missouri, Inc.
   One Riverway, Suite 1400
   2120 W. Bennett Street
 
   Houston, Texas 77056   Springfield, Missouri 65807
 
        
Waste Corporation of Texas, L.P.
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA Capital, Inc.
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA of Alabama, L.L.C.
   One Riverway, Suite 1400
   13737 Plant Road
 
   Houston, Texas 77056   Alpine, Alabama 35014
 
        
Waste Corporation of Tennessee, Inc.
   One Riverway, Suite 1400
   1550 Lamons Quarry Road
 
   Houston, Texas 77056   Knoxville, Tennessee 37932
 
        
WCA Texas Management General, Inc.
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA Management Limited, Inc.
   13737 Plant Road
   13737 Plant Road
 
   Alpine, Alabama 35014   Alpine, Alabama 35014
 
        
WCA Management Company, L.P.
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA Management General, Inc.
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA Shiloh Landfill, L.L.C.
   One Riverway, Suite 1400
   223 Rock Quarry Road
 
   Houston, Texas 77056   Traveler’s Rest, SC 29690
 
        
Translift, Inc.
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
Texas Environmental Waste Services
   One Riverway, Suite 1400
   One Riverway, Suite 1400
LLC
   Houston, Texas 77056   Houston, Texas 77056
 
        
Eagle Ridge Landfill, LLC
   One Riverway, Suite 1400
   13100 Hwy V V
 
   Houston, Texas 77056   Bowling Green, Missouri 63334
 
        
Transit Waste, L.L.C.
   One Riverway, Suite 1400
   203 Idaho Street, Bloomfield,
 
   Houston, Texas 77056   New Mexico 84713
 
        
WCA of North Carolina, L.L.C..
   One Riverway, Suite 1400
   421 Raleigh View Road
 
   Houston, Texas 77056   Raleigh, North Carolina 27610
 
        
WCA Wake Transfer Station, LLC
   One Riverway, Suite 1400
   9220 Durant Road
 
   Houston, Texas 77056   Raleigh, North Carolina 27616
 
        
WCA of High Point, LLC
   One Riverway, Suite 1400
   5830 Riverdale Drive
 
   Houston, Texas 77056   Jamestown, North Carolina 27282
 
        
Material Reclamation, LLC
   One Riverway, Suite 1400
   421 Raleigh View Road
 
   Houston, Texas 77056   Raleigh, North Carolina 27610
 
        
Material Recovery, LLC
   One Riverway, Suite 1400
   2600 Brownfield Road
 
   Houston, Texas 77056   Raleigh, North Carolina 27610
 
        
WCA of Florida, Inc.
   One Riverway, Suite 1400
   8001 Fruitville Road
 
   Houston, Texas 77056   Sarasota, Florida 34240

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Subsidiary   Chief Executive Office   Principal Location
WCA of Central Florida, Inc.
   One Riverway, Suite 1400
   3400 U.S. Highway 17 North
 
   Houston, Texas 77056   Ft. Meade, Florida 33841
 
        
Transit Waste, L.L.C.
   One Riverway, Suite 1400
   203 Idaho Street
 
   Houston, Texas 77056   Bloomfield, New Mexico 87413
 
        
WCA of St. Lucie, LLC
   One Riverway, Suite 1400
   9901 Rangeline Road
 
   Houston, Texas 77056   Port St. Lucie, Florida 34945
 
        
WCA of Oklahoma, LLC
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
American Waste, LLC
   One Riverway, Suite 1400
   1001 South Rockwell Ave.
 
   Houston, Texas 77056   Oklahoma City, Oklahoma 77056
 
        
Pauls Valley Landfill, LLC
   One Riverway, Suite 1400
   1001 South Rockwell Ave.
 
   Houston, Texas 77056   Oklahoma City, Oklahoma 77056
 
        
N. E. Land Fill, LLC
   One Riverway, Suite 1400
   1001 South Rockwell Ave.
 
   Houston, Texas 77056   Oklahoma City, Oklahoma 77056
 
        
Sooner Waste, LLC
   One Riverway, Suite 1400
   1001 South Rockwell Ave.
 
   Houston, Texas 77056   Oklahoma City, Oklahoma 77056
 
        
Ruffino Hills Transfer Station, LP
   One Riverway, Suite 1400
   9720 Ruffino Road
 
   Houston, Texas 77056   Houston, Texas 77031
 
        
Fort Bend Regional Landfill, LP
   One Riverway, Suite 1400
   14115 Davis Estates Road
 
   Houston, Texas 77056   Needville, Texas 77461
 
        
Burnt Poplar Transfer, LLC
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA of Massachusetts, LLC
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
WCA of Ohio, LLC
   One Riverway, Suite 1400
   One Riverway, Suite 1400
 
   Houston, Texas 77056   Houston, Texas 77056
 
        
Champion City Recovery, LLC
   One Riverway, Suite 1400
   138 Wilder Street
 
   Houston, Texas 77056   Brockton, Massachusetts 02301
 
        
Boxer Realty Redevelopment, LLC
   One Riverway, Suite 1400
   138 Wilder Street
 
   Houston, Texas 77056   Brockton, Massachusetts 02301
 
        
Sunny Farms Landfill, LLC
   One Riverway, Suite 1400
   12500 West County Road 18
 
   Houston, Texas 77056   Fostoria, Ohio 44830
 
        
New Amsterdam & Seneca Railroad
   One Riverway, Suite 1400
   12500 West County Road 18
Company, LLC
   Houston, Texas 77056   Fostoria, Ohio 44830

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EXHIBIT “A”
CHECKLIST

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