EX-4.1 2 ex4-1.htm EXHIBIT 4.1 ex4-1.htm
URS CORPORATION
SECOND AMENDMENT TO CREDIT AGREEMENT
 
This  SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is dated as of August 25, 2010 and entered into by and among URS CORPORATION, a Delaware corporation (“Company”), the financial institutions party thereto from time to time (“Lenders”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for Lenders (“Administrative Agent”), and, for purposes of Section 3 hereof, the Credit Support Parties (as defined hereof) listed on the signature pages hereof, and is made with reference to that certain Credit Agreement dated as of November 15, 2007, as amended by the First Amendment to Credit Agreement dated as of June 19, 2008 (as so amended, the “Credit Agreement”), by and among Company, Lenders, Morgan Stanley Senior Funding, Inc., as a joint-lead arranger and syndication agent for Lenders, Wells Fargo Bank, National Association, as a joint-lead arranger, Bank of America, N.A., BNP Paribas and The Royal Bank of Scotland plc, as co-documentation agents for Lenders, and Administrative Agent.  Capitalized terms used herein without definition shall have the same meanings herein as set forth in the Credit Agreement.
 
RECITALS
 
WHEREAS, Company and Lenders desire to amend the Credit Agreement as set forth below;
 
NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows:
 
Section 1.  AMENDMENT TO THE CREDIT AGREEMENT
 
Subsection 7.5(viii) of the Credit Agreement is hereby amended by deleting the reference to “1,000,000” contained therein and substituting a reference to “3,000,000” therefor.
 
Section 2.  COMPANY’S REPRESENTATIONS AND WARRANTIES
 
In order to induce Lenders to enter into this Amendment and to amend the Credit Agreement in the manner provided herein, Company represents and warrants to each Lender that the following statements are true, correct and complete:
 
A. Corporate Power and Authority.  Company has all requisite power and authority to enter into this Amendment and to carry out the transactions contemplated by, and perform its obligations under, the Credit Agreement as amended by this Amendment (the “Amended Agreement”).
 
B. Authorization of Agreements.  The execution and delivery of this Amendment and the performance of the Amended Agreement have been duly authorized by all necessary action on the part of Company.
 
C. No Conflict.  The execution and delivery by Company of this Amendment  and the performance by Company of the Amended Agreement do not and will not (i) violate any
 

 
1
 

provision of any law or any governmental rule or regulation applicable to Company or any of its Subsidiaries, the Organizational Documents of Company or any of its Subsidiaries or any order, judgment or decree of any court or other Government Authority binding on Company or any of its Subsidiaries, (ii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any Contractual Obligation of Company or any of its Subsidiaries in any manner that would be likely to result in a Material Adverse Effect, (iii) result in or require the creation or imposition of any Lien upon any of the properties or assets of Company or any of its Subsidiaries (other than Liens created under any of the Loan Documents in favor of Administrative Agent on behalf of Lenders or Permitted Encumbrances), or (iv) require any approval of stockholders or any approval or consent of any Person under any Contractual Obligation of Company or any of its Subsidiaries, except for such approvals or consents which will be obtained on or before the date hereof and disclosed in writing to Lenders.
 
D. Governmental Consents.  The execution and delivery by Company of this Amendment and the performance by Company of the Amended Agreement do not and will not require any Governmental Authorization, except as have been obtained.
 
E. Binding Obligation.  This Amendment has been duly executed and delivered by Company and this Amendment and the Amended Agreement are the legally valid and binding obligations of Company, enforceable against Company in accordance with their respective terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability.
 
F. Incorporation of Representations and Warranties From Credit Agreement.  The representations and warranties contained in Section 5 of the Credit Agreement (i) that do not contain a materiality qualification are and will be true, correct and complete in all material respects on and as of the date hereof to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date and (ii) that contain a materiality qualification are and will be true, correct and complete on and as of the date hereof to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete on and as of such earlier date.
 
G. Absence of Default.  No event has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment that would constitute an Event of Default or a Potential Event of Default.
 
Section 3.  ACKNOWLEDGEMENT AND CONSENT
 
Each guarantor, grantor or pledgor listed on the signatures pages hereof (each, a “Credit Support Party”) hereby acknowledges and agrees that any of the Subsidiary Guaranty and Collateral Document (each, a “Credit Support Document”) to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment.  Each Credit Support Party represents and warrants that all representations and warranties contained in the Amended Agreement and the Credit Support
 

 
 
2
 

Documents to which it is a party or otherwise bound (i) that do not contain a materiality qualification are and will be true, correct and complete in all material respects on and as of the date hereof to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date and (ii) that contain a materiality qualification are and will be true, correct and complete on and as of the date hereof to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete on and as of such earlier date.
 
Each Credit Support Party acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Credit Support Party is not required by the terms of the Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to require the consent of such Credit Support Party to any future amendments to the Credit Agreement.
 
Section 4.  MISCELLANEOUS
 
A. Reference to and Effect on the Credit Agreement and the Other Loan Documents.
 
(i) On and after the date hereof, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Amended Agreement.
 
(ii) Except as specifically amended by this Amendment, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.
 
(iii) The execution, delivery and performance of this Amendment shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of Administrative Agent or any Lender under, the Credit Agreement or any of the other Loan Documents.
 
B. Fees and Expenses.  Company acknowledges that all costs, fees and expenses as described in subsection 10.2 of the Credit Agreement incurred by Administrative Agent and its counsel with respect to this Amendment and the documents and transactions contemplated hereby shall be for the account of Company.
 
C. Headings.  Section and subsection headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect.
 
D. Applicable Law.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND
 

 
 
3
 

SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE APPLICATION OF ANOTHER LAW.
 
E. Counterparts; Effectiveness.  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 an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document.  This Amendment shall become effective as of the date hereof upon the execution of a counterpart hereof by Company, Requisite Lenders and each of the Credit Support Parties and receipt by Company and Administrative Agent of written or telephonic notification of such execution and authorization of delivery thereof.
 
[Remainder of page intentionally left blank]

 
 
4
 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first written above.
 
 
  COMPANY:  
  URS Corporation  
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
 
  LENDERS:  
  Wells Fargo Bank, National Association, individually and as Administrative Agent  
       
 
By:
/s/ Robert T. O'Sullivan  
    Vice President  
       
       

 
S-1
 

  American Savings Bank, FSB, as Lender  
       
 
By:
/s/ Rian DuBach  
    Vice President  
       
       
  BNP Paribas, as Lender  
       
 
By:
/s/ Todd Rogers  
    Director  
       
  By: /s/ Mary Ann Wong  
    Director  
       
       
  Bank of America, N.A., as Lender  
       
 
By:
/s/ Matthew Griesbach  
    Vice President  
       
       
  The Bank of Nova Scotia, as Lender  
       
 
By:
/s/ Annabella Guo  
    Director  
       
       
  Barclays Bank PLC, as Lender  
       
 
By:
/s/ Noam Azachi  
    Assistant Vice President  
       
       
  Citibank, NA, as Lender  
       
 
By:
/s/ Mark J. Doller  
    Director  
       
       
  East West Bank, as Lender  
       
 
By:
/s/ Nancy A. Moore  
    Senior Vice President  
       
     
 
 
S-2
 
 
  Fifth Third Bank, as Lender  
       
 
By:
/s/ Gary Losey  
    Vice President - Corporate Banking  
       
       
  General Electric Capital Corporation, as Lender  
       
 
By:
/s/ Sean McWhinnie  
    Duly Authorized Signatory  
       
     
  M&T Bank, as Lender  
       
 
By:
/s/ Sue O'Malley  
    Vice President  
       
     
  MB Financial Bank, N.A., as Lender  
       
 
By:
/s/ Henry Wessel  
    Vice President  
       
     
  PNC Bank, N.A., as Lender  
       
 
By:
/s/ Jennifer L. Loew  
    Vice President  
       
     
  Raymond James Bank, FSB, as Lender  
       
 
By:
/s/ Joseph A. Ciccolini  
    Vice President - Senior Corporate Banker  
       
     
  The Royal Bank of Scotland plc, as Lender  
       
 
By:
/s/ L. Peter Yetman  
    Senior Vice President  
       
     
 
 
S-3
 
 
  Scotiabanc Inc., as Lender  
       
 
By:
/s/ J.F. Todd  
    Managing Director  
       
       
  SunTrust Bank, as Lender  
       
 
By:
/s/ Robert Maddox  
    Managing Director  
       
     
  UBS Loan Finance LLC, as Lender  
       
 
By:
/s/ Irja R. Otsa  
    Associate Director  
       
  By: /s/ Mary E. Evans
    Associate Director
     
     
  UBS AG Stamford Branch, as Lender  
       
 
By:
/s/ Irja R. Otsa  
    Associate Director  
       
  By: /s/ Mary E. Evans
    Associate Director
     
     
  Union Bank, N.A., as Lender  
       
 
By:
/s/ Ian Ritchie  
    Assistanct Vice President  
       
     
  United Overseas Bank Ltd, New York Agency, as Lender  
       
 
By:
/s/ K. Jin Koh  
    Senior Vice President & General Manager  
       
  By: /s/ Mario Sheng
    Assistant Vice President
 
 
 
S-4
 
 
  GUARANTORS:  
     
  Aman Environmental Construction, Inc.  
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS E&C Holdings, Inc. [f.k.a. Washington Holdings, Inc.][f.k.a. Bear Merger Sub, Inc.]
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  Cleveland Wrecking Company
       
 
By:
/s/ Rita Armstrong  
    Rita Armstrong  
    Director  
       
 
  EG&G Defense Materials, Inc.
       
 
By:
/s/ William F. Neeb  
    William F. Neeb  
    Director  
       
 
  URS Federal Technical Services, Inc. [f.k.a. EG&G Technical Services, Inc.]
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
 
S-5
 
 
  E.C. Driver & Associates, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  Lear Siegler Logistics International, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS Federal Support Services, Inc. [f.k.a. Lear Siegler Services, Inc.]
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  Washington California, Inc. [f.k.a. Pomeroy Corporation]
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Rust Constructors Puerto Rico, Inc.
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
 
 
S-6
 
 
  Rust Constructors, Inc.
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Signet Testing Laboratories, Inc.
       
 
By:
/s/ Rita Armstrong  
    Rita Armstrong  
    Director  
       
 
  URS Caribe, L.L.P.
       
 
By:
/s/ Rene Purcell  
    Rene Purcell  
    Authorized Representative  
       
 
  URS Construction Services, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS Corporation
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  URS Corporation AES
       
 
By:
/s/ Paul F. Schmidt  
    Paul F. Schmidt  
    Director  
       
 
 
S-7
 
 
  URS Corporation - New York
       
 
By:
/s/ John F. Spencer  
    John F. Spencer  
    Director  
       
 
  URS Corporation - North Carolina
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS Corporation - Ohio
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS Corporation Great Lakes
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS Corporation Southern
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS District Services, P.C.
       
 
By:
/s/ James R. Linthicum  
    James R. Linthicum  
    Director  
       
 
 
S-8
 
 
  URS Greiner Woodward-Clyde Consultants, Inc.
       
 
By:
/s/ John F. Spencer  
    John F. Spencer  
    Director  
       
 
  URS Group, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS Holdings, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  URS International, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  URS Operating Services, Inc.
       
 
By:
/s/ Charles Baker  
    Charles Baker  
    Vice President  
       
 
  URS Resources, LLC
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    CFO, Member representative & VP  
       
 
 
S-9
 
 
  Washington Demilitarization Company, LLC
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Washington Government Environmental Services Company LLC
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Vice President and Assistant Secretary  
       
 
  Washington Group Holdings Limited
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  URS Energy & Construction, Inc. [f.k.a. Washington Group International, Inc.]
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Washington Group Latin America, Inc.
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Washington International, Inc.
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
 
S-10
 
 
  Washington Midwest LLC
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Assistant Secretary  
       
 
  WGI Middle East Inc.
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Badger Energy, Inc.
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Badger Middle East, Inc.
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Banshee Construction Company, Inc.
       
 
By:
/s/ Rita Armstrong  
    Rita Armstrong  
    Director  
       
 
  Clay Street Properties
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
 
S-11
 
 
  D&M Consulting Engineers, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  Dames & Moore Group (NY), Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  WD Global, Inc. [f.k.a. Ebasco International Corporation]
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  Energy Overseas International, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  Geotesting Services, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  Harbert-Yeargin Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
 
S-12
 
 
  National Projects, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  Radian Engineering, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
  Raytheon-Ebasco Overseas, Ltd.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  The Leasing Corporation
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  United Engineers Far East, Ltd.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  United Engineers International, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
       
 
 
S-13
 
 
  United Mid-East, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  URS Architects/Engineers, Inc.
       
 
By:
/s/ Gary Jandegian  
    Gary Jandegian  
    Director  
       
 
  URS Architecture - Oregon, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  URS Corporation Architecture, P.C.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  URS Corporation Design
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
       
 
  URS Corporation - Maryland
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
     
 
 
S-14
 
 
  URS Corporation Services
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Director  
     
 
  URS Corporation Southeast
       
 
By:
/s/ Steven R. Flukinger  
    Steven R. Flukinger  
    Director  
     
 
  URS-Stevenson Architecture, P.C.
       
 
By:
/s/ Ronald R. Henry  
    Ronald R. Henry  
    Director  
     
 
  Washington Architects, LLC
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Assistant Secretary  
     
 
  Washington-Catalytic, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  Washington Construction Corporation
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
 
S-15
 
 
  Targhee International LLC [f.k.a. Washington Group Argentina, Inc.]
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Director  
       
 
  Washington Global Services, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  Washington Group Transit Management Company
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  Washington Infrastructure Corporation
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  Washington Infrastructure Services, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  Washington Ohio Services LLC
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
 
S-16
 
 
  Washington Quality Inspection Company
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  West Valley Nuclear Services Company LLC
       
 
By:
/s/ Randolph J. Hill  
    Randolph J. Hill  
    Sr. Vice President of Legal and Assistant Secretary  
     
 
  WGCI, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  WGI Asia, Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  WGI Global Inc.
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
  URS Global Opportunities LLC [f.k.a. WGI Global Opportunities LLC]
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
 
S-17
 
 
  WGI Industrial Services, Ltd.
       
 
By:
/s/ Frank Finlayson  
    Frank Finlayson  
    Vice President and Treasurer  
     
 
  URS Overseas Operations LLC [f.k.a. WGI Overseas Operations LLC]
       
 
By:
/s/ H. Thomas Hicks  
    H. Thomas Hicks  
    Vice President and CFO  
     
 
S-18