<SEC-DOCUMENT>0001157523-15-003077.txt : 20150904
<SEC-HEADER>0001157523-15-003077.hdr.sgml : 20150904
<ACCEPTANCE-DATETIME>20150904143054
ACCESSION NUMBER:		0001157523-15-003077
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150831
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150904
DATE AS OF CHANGE:		20150904

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			U S PHYSICAL THERAPY INC /NV
		CENTRAL INDEX KEY:			0000885978
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HEALTH SERVICES [8000]
		IRS NUMBER:				760364866
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11151
		FILM NUMBER:		151094340

	BUSINESS ADDRESS:	
		STREET 1:		1300 WEST SAM HOUSTON PARKWAY
		STREET 2:		SUITE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77043
		BUSINESS PHONE:		7132977000

	MAIL ADDRESS:	
		STREET 1:		1300 WEST SAM HOUSTON PARKWAY
		STREET 2:		SUITE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77043
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>a51175298.htm
<DESCRIPTION>U.S. PHYSICAL THERAPY, INC. 8-K
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<div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNITED STATES<br>
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION<br>
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">WASHINGTON, DC 20549</font></div>

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<div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">FORM 8-K</font></div>

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<div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT<br>
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Pursuant to Section 13 or 15(d) of the<br>
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Securities Exchange Act of 1934</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported):&#160;&#160;September 4, 2015 (August 31, 2015)</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">U.S. PHYSICAL THERAPY, INC. <br>
</font></font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</font></div>

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<td width="19%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"> 76-0364866</font></font></td>
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<td width="19%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(State or other jurisdiction of</font></td>
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<td width="19%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Commission File </font></td>
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<td width="19%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(I.R.S. Employer</font></td>
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<td width="19%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">incorporation or organization)</font></td>
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<td width="19%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Number)</font></td>
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<td width="19%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Identification No.)</font></td>
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<td width="65%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">1300 West Sam Houston Parkway South, Suite 300, Houston, Texas</font></font></font></td>
<td width="35%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">77042</font></font></font></td>
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<td width="65%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; (Address of Principal Executive Offices) </font></td>
<td width="35%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;(Zip Code)</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: -22.5pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Registrant's telephone number, including area code: <font style="DISPLAY: inline; FONT-WEIGHT: bold">(713) 297-7000</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="DISPLAY: inline; TEXT-DECORATION: underline">see</font> General Instruction A.2. below):</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>

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<td width="10%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Item 1.01</font></font></td>
<td width="90%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Entry into a Material Definitive Agreement.</font></font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Effective August 31, 2015 (&#8220;Effective Date&#8221;), U. S. Physical Therapy, Inc. (the &#8220;Company&#8221;) entered into a First Amendment to the Amended and Restated Credit Agreement (the &#8220;Amended Credit Agreement&#8221;) with Bank of America.&#160;&#160;The Amended Credit Agreement increased the cash and noncash consideration that the Company could pay with respect to acquisitions permitted within the Amended Credit Agreement to $50,000,000 for the 2015 fiscal year from $25,000,000.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Credit Agreement matures on November 30, 2018, is unsecured and includes standard financial covenants which include a consolidated fixed charge coverage ratio and a consolidated leverage ratio, as defined in the Credit Agreement.&#160;&#160;Proceeds from the credit agreement may be used for working capital, acquisitions, and for other corporate purposes.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of September 4, 2015, the outstanding balance advanced under the loan facility was $41,000,000.</font></div>

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<td valign="top" width="10%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Item 2.03</font></font></td>
<td width="90%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Creation of a Direct Financial Obligation or an Obligation under an<br>
<font id="TAB2" style="LETTER-SPACING: 9pt"></font><font id="TAB2" style="LETTER-SPACING: 9pt"></font><font id="TAB2" style="LETTER-SPACING: 9pt"></font><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Off-Balance Sheet Arrangement of a Registrant.</font></font></font></td>
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<td width="90%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Financial Statements and Exhibits.</font></font></td>
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<td width="11%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibits</font></font></font></td>
<td width="89%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Description of Exhibits</font></font></font></td>
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<td valign="top" width="11%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">99.1</font></font></td>
<td width="89%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">First Amendment to Amended and Restated Credit Agreement by and among the Company and the Lenders party hereto, and Bank of America, N. A, as Administrative Agent.*</font></font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Dated: September 4, 2015</font></div>
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<td valign="top" width="21%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Chief Financial Officer</font></td>
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<td valign="top" width="21%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(duly authorized officer and principal financial</font></td>
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<td valign="top" width="21%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">and accounting officer)</font></td>
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<td width="90%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">DESCRIPTION OF EXHIBIT</font></font></font></td>
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<div align="left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">First Amendment to Amended and Restated Credit Agreement by and among the Company and the Lenders party hereto, and Bank of America, N. A, as Administrative Agent.*</font></font></div>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 99.1</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This First Amendment to Amended and Restated Credit Agreement (this "<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment</font>") dated as of August 31, 2015, is by and among U.S. PHYSICAL THERAPY, INC., a Nevada corporation (the "<font style="DISPLAY: inline; TEXT-DECORATION: underline">Borrower</font>"), the Lenders party hereto, and BANK OF AMERICA, N.A.,<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>as Administrative Agent, Swing Line Lender and L/C Issuer (the "<font style="DISPLAY: inline; TEXT-DECORATION: underline">Administrative Agent</font>").</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">W I T N E S S E T H:</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Borrower, the Administrative Agent and the Lenders named therein entered into that certain Amended and Restated Credit Agreement dated as of December 5, 2013 (as may be amended, restated, supplemented and modified from time to time, the "<font style="DISPLAY: inline; TEXT-DECORATION: underline">Credit Agreement</font>").</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Borrower, the Administrative Agent and the Lenders now desire to amend the Credit Agreement as provided herein.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">NOW, THEREFORE, in consideration of the premises, as well as the covenants, conditions and agreements hereafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are all hereby acknowledged, the parties covenant and agree as follows:</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 1.1<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Definitions</font>.&#160;&#160;Capitalized terms used in this Amendment, to the extent not otherwise defined herein, shall have the same meanings as in the Credit Agreement, as amended hereby.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 2.1<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section 7.03(f)(iii) of the Credit Agreement</font>.&#160;&#160;Effective as of the date hereof, <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;7.03(f)(iii)</font> of the Credit Agreement is amended and restated in its entirety to read as follows:</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 35pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the total cash and noncash consideration (including the fair market value of all Equity Interests, other than Equity Interests of the Borrower or of the Subsidiary of the Borrower which makes such purchase or acquisition, issued or transferred to the sellers thereof, the aggregate amounts paid or to be paid under noncompete, consulting, other affiliated agreements (to the extent such consideration does not exceed the fair market value of the goods or services provided under such agreements, as agreed to by the Administrative Agent), all earnouts and other contingent payment obligations, with the sellers thereof, and all assumptions of Consolidated Funded Indebtedness in connection therewith) paid by or on behalf of the Borrower and its Subsidiaries for any such purchase or other acquisition shall not exceed (A)&#160;$20,000,000 for any single acquisition and (B)&#160;when aggregated with (x)&#160;such total cash and noncash consideration (but excluding Equity Interests of the Borrower) paid by or on behalf of the Borrower and its Subsidiaries for all other purchases and other acquisitions made by the Borrower and its Subsidiaries pursuant to this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;7.03(f)</font> and (y)&#160;the total cash and noncash consideration paid with respect to purchase of Equity Interests permitted in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;7.03(g)</font>, shall not exceed (1) for the 2015 fiscal year, $50,000,000 in the aggregate in such fiscal year, and (2) for each other fiscal year, $25,000,000 in the aggregate in such fiscal year (in each case not including any cash or noncash consideration paid with respect to the ARC Acquisition);</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 2.2<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment to Section 7.03(g)(iii) of the Credit Agreement</font>.&#160;&#160;Effective as of the date hereof, <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;7.03(g)(iii)</font> of the Credit Agreement is amended and restated in its entirety to read as follows:</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 35pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the total cash and noncash consideration (including the fair market value of all Equity Interests, other than Equity Interests of the Borrower, issued or transferred to the sellers thereof, the aggregate amounts paid or to be paid under noncompete, consulting, other affiliated agreements (to the extent such consideration does not exceed the fair market value of the goods or services provided under such agreements, as agreed to by the Administrative Agent), all earnouts and other contingent payment obligations with the sellers thereof, and all assumptions of Consolidated Funded Indebtedness in connection therewith) paid by or on behalf of the Borrower and its Subsidiaries for any such purchase or other acquisition, (A)&#160;$20,000,000 for any single purchase of Equity Interests and (B)&#160;when aggregated (x) with such total cash and noncash consideration (but excluding Equity Interests of the Borrower) paid by or on behalf of the Borrower and its Subsidiaries for all other purchases and other acquisitions made by the Borrower and its Subsidiaries pursuant to this <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;7.03(g)</font> and (y) the total cash and noncash consideration paid with respect to acquisitions permitted in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section&#160;7.03(f),</font> shall&#160;&#160;not exceed (1) for the 2015 fiscal year, $50,000,000 in the aggregate in such fiscal year, and (2) for each other fiscal year, $25,000,000 in the aggregate in such fiscal year (in each case not including any cash or noncash consideration paid with respect to the ARC Acquisition);</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 3.1<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160; </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Representations and Warranties</font>.&#160;&#160;By its execution and delivery hereof, the Borrower represents and warrants that, as of the date hereof, and after giving effect to this Amendment:</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the representations and warranties of the Borrower contained in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Article&#160;V</font> of the Credit Agreement or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, are true and correct;</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; no Default exists;</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&#160;the Borrower has all requisite power and authority, and all requisite governmental licenses, authorizations, consents and approvals, to execute, deliver and perform this Amendment and the Credit Agreement, as amended hereby; (ii)&#160;this Amendment has been duly executed and delivered by the Borrower, and the execution, delivery and performance of this Amendment by the Borrower has been duly authorized by all necessary corporate or other organizational action; and (iii)&#160;this Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms;</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; neither the execution, delivery and performance of this Amendment or the Credit Agreement, as amended hereby, nor the consummation of any transactions contemplated herein or therein, will (i)&#160;contravene the terms of any of the Borrower&#8217;s Organization Documents; (ii)&#160;conflict with or result in any breach or contravention of, or the creation of any Lien under, or require any payment to be made under (A)&#160;any Contractual Obligation to which the Borrower is a party or affecting the Borrower or the properties of the Borrower or any of its Subsidiaries or (B)&#160;any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which the Borrower or its property is subject; or (iii)&#160;violate any Law; and</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;no approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower of this Amendment or the Credit Agreement, as amended hereby.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 4.1<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160; </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Conditions to Effectiveness</font>.&#160;&#160;This Amendment shall be effective upon satisfaction or completion of the following:</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Administrative Agent shall have received executed counterparts of this Amendment from each party hereto;</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Administrative Agent shall have received all fees and expenses incurred in connection with the preparation and execution of this Amendment, including, without limitation, attorneys' fees, in accordance with <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 10.4(a)</font> of the Credit Agreement;</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the representations and warranties set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Article&#160;III</font> hereof are true and correct; and</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent and its counsel, such other documents, certificates and instruments as the Administrative Agent shall reasonably require.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 5.1<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160; </font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Reference to the Credit Agreement; Ratification of the Credit Agreement</font>.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 42pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Upon the effectiveness of this Amendment, each reference in the Credit Agreement to "this Agreement," "hereunder," or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Credit Agreement, as amended hereby, shall remain in full force and effect and is hereby ratified and confirmed.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 5.2<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Execution in Counterparts</font>.&#160;&#160;This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.&#160;&#160;Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic imaging means (e.g. &#8220;pdf&#8221; or &#8220;tif&#8221;) shall be effective as delivery of a manually executed counterpart of this Amendment.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 5.3<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Governing Law; Binding Effect</font>.&#160;&#160;This Amendment shall be governed by and construed in accordance with the laws of the State of Texas applicable to agreements made and to be performed entirely within such state, provided that each party shall retain all rights arising under federal law. This Amendment shall be binding upon the parties hereto and their respective successors and assigns; <font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that the Borrower may not<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>assign or otherwise transfer any of its rights or obligations hereunder or under any other Loan Document without the prior written consent of the Administrative Agent and each Lender, and any prohibited assignment shall be null and void.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 5.4<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Headings</font>.&#160;&#160;Section 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.</font></div>

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<div style="TEXT-INDENT: 42pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Section 5.5<font id="TAB2" style="LETTER-SPACING: 7pt">&#160;&#160;&#160;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Entire Agreement</font>.&#160;&#160;THE CREDIT AGREEMENT, AS AMENDED BY THIS AMENDMENT, AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL&#160;&#160;AGREEMENTS AMONG THE PARTIES.&#160;&#160;THERE ARE NO UNWRITTEN ORAL&#160;&#160;AGREEMENTS AMONG THE PARTIES.</font></div>

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<td colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">as a Lender, L/C Issuer and Swing Line Lender</font></td>
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