On March 2, 2021 (the Closing Date), Cypress Environmental Partners, L.P. (the Partnership) and certain of its affiliates as co-borrowers and guarantors, entered into Amendment No. 1 to Credit Agreement (the Amendment) to the Amended and Restated Credit Agreement dated as of May 29, 2018 (as modified by the Amendment, the Credit Agreement) with Deutsche Bank AG, New York Branch, as lender, issuing bank, swing line lender and collateral agent and other lenders from time to time party thereto, and Deutsche Bank Trust Company Americas, as the administrative agent. The Credit Agreement provides up to $75 million of borrowing capacity, subject to certain limitations. The Credit Agreement matures on May 31, 2022 and includes a $15 million sublimit for the issuance of letters of credit and a $5 million sublimit for Swing Line loans. The obligations under the Credit Agreement are secured by a first priority security interest in substantially all of assets. Borrowings under the Credit Agreement bear interest, at option, on a leverage-based grid pricing at (i) a base rate plus a margin of 2.0% to 3.75% per annum (with Swing Line loans also being subject to this pricing), or (ii) a LIBOR rate plus a margin of 3.0% to 4.75% per annum. Letter of credit fees are payable on the maximum amount available to be drawn under issued letters of credit at a margin of 3.0% to 4.75%. Commitment fees are charged at a rate of 0.5% on any unused credit. The Credit Agreement contains various customary covenants and restrictive provisions. The Credit Agreement also requires the maintenance of certain financial covenants, including (i) a leverage ratio (as defined in the Credit Agreement) of not more than 6.0 to 1.0 (beginning December 31, 2020), 5.3 to 1.0 (beginning June 30, 2021), 4.5 to 1.0 (beginning September 30, 2021), and 4.0 to 1.0 (beginning December 31, 2021), and (ii) an interest coverage ratio (as defined in the Credit Agreement) of not less than 3.0 to 1.0 for any trailing four quarter period. Upon the occurrence and during the continuation of an event of default, subject to the terms and conditions of the Credit Agreement, the margin on any obligation shall increase by 2.0% per annum and the lenders may declare any outstanding principal, together with any accrued and unpaid interest, to be immediately due and payable and may exercise other remedies as set forth or referred to in the Credit Agreement. In addition, the Credit Agreement prohibits ability to redeem or repurchase equity interests. Also, the Credit Agreement restricts ability to make distributions on equity interests with the exception of (i) cash distributions per year on existing preferred units limited to 2.5% of the Series A issue price provided the leverage ratio does not exceed 4.0 to 1.0, (ii) certain distributions permitted by the operating agreements of two affiliated entities, and (iii) distributions reasonably required to cover unitholder tax obligations.