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FIRST AMENDMENT, dated August 16, 2011 (this “First Amendment” ) to that certain Forbearance Agreement, dated June 30, 2011 (as amended, the “ Forbearance Agreement ”), among Hill International, Inc. as borrower (the “ Borrower ”), Bank of America N.A. as administrative agent (in such capacity the “ Administrative Agent ”) and the Lenders (as defined therein).
W I T N E S S E T H
WHEREAS, the Borrower and the Administrative Agent and the lenders party thereto (the “ Lenders ”) entered into that certain Credit Agreement, dated June 30, 2009 (the “ Credit Agreement ”) pursuant to which, among other things, the Lenders provided revolving loans, letters of credit and swing line loans to the Borrower;
WHEREAS, in connection with the Credit Agreement, the Borrower executed the Forbearance Agreement, pursuant to which, among other things, the Administrative Agent and the Lenders agreed to forbear from exercising remedies under the Credit Agreement for a limited period of time, and the Borrower agreed to certain adjustments in the pricing and availability of Letters of Credit during the forbearance period;
WHEREAS, the Borrower has requested that the Administrative Agent amend the Forbearance Agreement as set forth herein, and the Administrative Agent is willing to do so, but only on the terms and conditions set forth herein.
NOW, THEREFORE, the parties hereto hereby agree as follows:
Terms defined in the Forbearance Agreement and used herein shall, unless otherwise indicated, have the meanings given to them in the Forbearance Agreement. Terms defined and used in this First Amendment shall have the meanings given to them in this First Amendment.
Section 2(a) (Approved Letters of Credit) of the Forbearance Agreement is hereby amended by deleting the table and replacin