EX-10.27 5 pengq4-24form10xkex1027.htm EX-10.27 Document
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信貸協議的第三次修正
這份信用協議的第三次修訂 （本「協議」修改”），日期爲2024年8月21日，由Cayman Islands免稅公司SMARt GLOBAL HOLDINGS, INC.之間簽署。母公司借款人”),加利福尼亞州一家公司SMARt模塊化技術有限公司（即“共同借款人”和父母借款人一起被稱爲“並簽訂本變更條款：商業信貸協議和票據（「CIT協議」）”，每個都是“借款人”),放貸人（以下定義）與公民銀行 銀行 ，作爲行政代理（“第五章 定義和引用 第5.1節 定義 第1.1節中所指的術語包括其單數形式以及複數形式，其相對應的意思當然依然是如此。”），並且由子公司貸款方認可並同意。本處所使用的大寫字母術語且未在此定義的，應具有信貸協議（如下所定義）中所賦予的意義。
鑑於發行人已正式授權發行高達3.75億美元的5.400％到期日爲2027年的發行人無條件優先票據（以下簡稱「票據」），由保證人提供超額和無條件的擔保； 而且發行人和保證人已正式授權簽署並交付本協議（以下簡稱爲「本協議」），包括擔保（如本文件中所定義）。
鑑於借款方、不時作爲一方的各金融機構（「債款人」）和代理商是根據某項於2022年2月7日簽訂（並於2022年8月29日通過第一次修正案修訂，並再經不時修訂、修改、延期、重籤、替代或補充的信貸協議的各方）放貸方”）和代理方是根據2022年2月7日簽署的某項信貸協議的各方（在任何時候經過修訂、修改、展期、重籤、更換或補充，簡稱“授信協議 (Credit Agreement)”);
鑑於借款人已要求代理人和貸款人同意對信貸協議進行某些修訂，行政代理人和貸款人已同意進行此類修改，按照並遵守這裏規定的條款和條件。
現在，因此鑑於下文所載之約定以及其他正當且有價值的考慮事項，且特此確認收到並充分認可，各方本着以下協議達成一致：
第一條
信貸協議的修改
1.1    信貸協議修正案以下定義在中進行修改 第1.01節 信貸協議中的下列定義經修改如下，並完全如下所示：
“循環到期日”指2027年2月1日; 但若本2026年優先票據的未償總本金金額超過2,000,000美元於該2026年優先票據到期日之前90天的日期，則循環到期日應爲該2026年優先票據到期日之前90天的日期。爲避免疑義，在任何情況下，循環到期日均不得晚於2027年2月1日。
“期限到期日”意味着2027年2月7日；假如2026年 Senior Notes 中超過2,000萬美元的本金餘額在距離該 Senior 2026 Notes 到期日前90天仍未償清，期限到期日應調整爲該 Senior 2026 Notes 到期日之前的90天。毫無疑問，期限到期日不得晚於2027年2月7日。
第二條
生效條件


2.1    結束條件本修正案應自上述日期（「生效日期」）起生效，條件履行後（形式和內容合理可接受予代理人）修訂生效日期在滿足以下條件時（形式和內容合理可接受予代理人）
(a)    執行修正案代理人應收到每位借款人、其他貸款方、每位放款人和代理人簽署的本修正案副本。
(b)   費用和支出代理人應當收到借款人支付的所有費用和與本修正案達成有關的合理且經核實的外銷支出，Jones Day應當收到借款人支付的所有在本日前或與本修正案相關的合理且經核實的費用和支出。
第三章
其他條款(無需翻譯)
3.1    修訂條款在修正生效日期之後，所有借款文件中對信用協議的引用應從現在開始指代本修正案修改的信用協議。除本次修正外或另有約定外，信用協議經過此次確認並繼續按照其條款全面有效。
3.2    貸款方的陳述和擔保. 每個貸款方的陳述和擔保如下：
（a）該貸款方已採取一切必要措施，授權執行、交付和履行本修正案。
用供資方已完成並且已經對修正且修正成爲該 資方缺少、服務、重練、血稅、連續交換、亨利、突子或同匯法律冪對於倘諱權益平台已論論權徒稿或平台時可能是存在同匯的規律原則。
(c)在此修訂案的執行、交付或履行方面，此貸款參與方或其任何子公司無需獲得任何批准；除了已經由此貸款參與方或其任何子公司獲得並且有效的批准外。
(d) 在此日期之前，每個貸款主體在《信貸協議》第三條中載明的陳述和保證在所有重大方面均屬真實和正確，前提是，只要這些陳述和保證明確涉及較早日期，則在該較早日期，它們在所有重要方面均屬真實和正確；進一步規定，就任何以「重要性」、「重大不利影響」或類似語言作爲限定條件的陳述和保證，它們在此日期或在該較早日期（視情況而定）上，在所有方面均屬真實和正確（須考慮任何此類限定條件的影響）。
(e) 在執行本修改後，尚未發生並持續存在構成違約或違約事件的情況。
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3.3    義務再承諾每個貸款方均承認並同意所有貸款文件義務構成該貸款方的有效和約束力義務，可對該貸款方執行，除非適用破產、無力償還、重組、暫停支付或其他影響債權人權利的類似法律一般和一般衡平法可能限制其可執行性。每個貸款方特此批准信用協議和其它其參與的貸款文件，並認可和重申：(y)其受信用協議和其它適用於其的貸款文件所有條款的約束和(z)其負責遵守和全面執行其各自的貸款文件義務。
3.4    貸款文件。本修正案應視爲信貸協議項下的貸款文件。
3.5    費用每位借款人同意支付代理人在準備、執行和交付本修改案時發生的所有合理及有據可查的費用和支出（包括但不限於代理人法律顧問的合理和有據可查的費用和支出）。
3.6    Entirety. This Amendment and the other Loan Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.
3.7    Counterparts; Telecopy. This Amendment may be executed in any number of counterparts, all of which taken together shall constitute one agreement, and any of the parties hereto may execute this Amendment by signing any such counterpart. Subject to Section 2 above, this Amendment shall be effective when it has been executed by the Borrowers, the other Loan Parties, the Agent and the requisite Lenders, and each party has transmitted executed signature pages by telefacsimile or in ‘PDF’ format by electronic mail.
3.8    GOVERNING LAW. THIS AMENDMENT AND ANY CLAIMS, CONTROVERSY OR DISPUTE ARISING OUT OF OR RELATING TO THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CHOICE OF LAW RULES (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).
3.9    Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
3.10    Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The consent to jurisdiction, consent to service of process and waiver of jury trial provisions set forth in Sections 9.09 and 9.10 of the Credit Agreement, respectively, are hereby incorporated by reference, mutatis mutandis.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed on the date first above written.
SMART GLOBAL HOLDINGS, INC.
By:    /s/ Anne Kuykendall
Name: Anne Kuykendall
Title: Senior Vice President and Chief Legal Officer
SMART MODULAR TECHNOLOGIES, INC.
By:    /s/ Anne Kuykendall
Name: Anne Kuykendall
Title: Vice President and Secretary


SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


ACKNOWLEDGED AND AGREED TO:
SMART MODULAR TECHNOLOGIES (DE), INC.
CREELED, INC.
SMART WIRELESS COMPUTING, INC.
PENGUIN COMPUTING, INC.
SMART HIGH RELIABILITY SOLUTIONS LLC
SMART EMBEDDED COMPUTING, INC.
EXECUTED AS A DEED FOR AND ON BEHALF OF SMART MODULAR TECHNOLOGIES (DH), INC.
By:    /s/ Anne Kuykendall
Name: Anne Kuykendall
Title: Vice President and Secretary


STRATUS TECHNOLOGIES, INC.


By:    /s/ Anne Kuykendall
Name: Anne Kuykendall
Title: Secretary and General Counsel


SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


CITIZENS BANK, N.A.,
as Agent and a Lender
By: /s/ Janet K. Lee
    Name: Janet K. Lee
    Title: Managing Director


SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


City National Bank, as a Lender
By: /s/ Karina Castillo
    Name: Karina Castillo
    Title: Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


Fifth Third Bank, National Association, as a Lender
By: /s/ Nick Meece
    Name: Nick Meece
    Title: Principal
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


BMO BANK N.A., successor in interest to the Bank of the West, as a Lender
By: /s/ Scott Bruni
    Name: Scott Bruni
    Title: Managing Director
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


Cathay Bank, as a Lender
By: /s/ An Pham Jr
    Name: An Pham Jr
    Title: Senior Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


MIZUHO BANK, LTD., as a Lender
By: /s/ Tracy Rahn
    Name: Tracy Rahn
    Title: Managing Director
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


Comerica Bank, as a Lender
By: /s/ Cailyn Coburn
    Name: Cailyn Coburn
    Title: AVP
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


KEYBANK NATIONAL ASSOCIATION, as a Lender
By: /s/ David Raczka
    Name: David Raczka
    Title: Senior Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


CAPITAL ONE, NATIONAL ASSOCIATION as a Lender
By: /s/ Hunter Simensen
    Name: Hunter Simensen
    Title: Duly Authorized Signatory
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


Wells Fargo Bank National Association, as a Lender
By: /s/ Daniel Sanchez
    Name: Daniel Sanchez
    Title: Senior Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


PNC BANK, NATIONAL ASSOCIATION, as a Lender
By: /s/ Kathryn McAndrew
    Name: Kathryn McAndrew
    Title: Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


SANTANDER BANK, N.A., as a Lender
By: /s/ Matthew Cunningham
    Name: Matthew Cunningham
    Title: Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


SYNOVUS BANK, as a Lender
By: /s/ Robert Haley
    Name: Robert Haley
    Title: Director
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


THE BANK OF EAST ASIA, LIMITED, NEW YORK BRANCH, as a Lender
By: /s/ James Hua
    Name: James Hua
    Title: DGM & Head of Corporate Banking

By: /s/ Chong Tan
    Name: Chong Tan
    Title: DGM & Head of Risk Management
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


MORGAN STANLEY SENIOR FUNDING, INC., as a Lender
By: /s/ Moses Papadopoulos
    Name: Moses Papadopoulos
    Title: Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


BARCLAYS BANK PLC, as a Lender
By: /s/ Craig Malloy
    Name: Craig Malloy
    Title: Director
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


CADENCE BANK, as a Lender
By: /s/ James A. Morgan
    Name: James A. Morgan
    Title: Managing Director
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


FIRST HORIZON BANK, as a Lender
By: /s/ Jeffrey Flagg
    Name: Jeffrey Flagg
    Title: Senior Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


BANK OF AMERICA, N.A., as a Lender
By: /s/ Spencer Hunter
    Name: Spencer Hunter
    Title: Vice President
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


SUMITOMO MITSUI BANKING CORPORATION, as a Lender
By: /s/ Irlen Mak
    Name: Irlen Mak
    Title: Director
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


HSBC Bank USA, N.A., as a Lender
By: /s/ Richard Barnsley
    Name: Richard Barnsley
    Title: SVP, Lead, TMT & Corporate Banker
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


FIRST-CITIZENS BANK AND TRUST COMPANY, as a Lender
By: /s/ Devanshi Dhanuka
    Name: Devanshi Dhanuka
    Title: VP
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT


M&T Bank, as a Lender
By: /s/ Kathryn Williams
    Name: Kathryn Williams
    Title: Director
SMART GLOBAL HOLDINGS, INC.
THIRD AMENDMENT TO CREDIT AGREEMENT