Exhibit 10.1
FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT
     THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”), dated as of September 23, 2005, is by and among WEST CORPORATION,
a Delaware corporation (the “Borrower”), those Domestic Subsidiaries of the
Borrower identified as a “Guarantor” on the signature pages hereto (individually
a “Guarantor” and collectively the “Guarantors”), the financial institutions
party hereto as lenders (the “Lenders”) and WACHOVIA BANK, NATIONAL ASSOCIATION,
as administrative agent under the Credit Agreement (defined below) (in such
capacity, the “Administrative Agent”).
W I T N E S S E T H
     WHEREAS, the Borrower, the Guarantors, the Lenders and the Administrative
Agent are parties to that certain Amended and Restated Credit Agreement dated as
of November 15, 2004 (as previously amended, modified or supplemented and as
further amended, modified, supplemented, restated or amended and restated from
time to time, the “Credit Agreement”; capitalized terms used herein and not
defined herein shall have the meanings ascribed thereto in the Credit Agreement
as amended hereby); and
     WHEREAS, the Borrower and the Required Lenders have agreed to amend the
Credit Agreement on the terms and conditions set forth herein.
     NOW, THEREFORE, in consideration of the agreements hereinafter set forth,
and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties hereto agree as follows:
ARTICLE I
AMENDMENTS TO CREDIT AGREEMENT
     1.1 Definitions.
          (a) The definitions of Call Options and Convertible Senior Notes are
hereby added to Section 1.1 of the Credit Agreement to read as follows:
          “Call Options” shall mean call options purchased by the Borrower,
which call options will be exercisable by the Borrower upon the conversion of
any of the Convertible Senior Notes and will allow the Borrower to purchase
shares of its Capital Stock in an amount equal to the Borrower’s obligation to
issue shares of its Capital Stock under the Convertible Senior Notes.
          “Convertible Senior Notes” shall mean convertible senior notes in an
aggregate principal amount not to exceed $195,000,000 and with a term not to
exceed approximately three (3) years, issued by the Borrower pursuant to an

 

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indenture or purchase agreement on terms reasonably satisfactory to the
Administrative Agent.
          (b) The definition of “Change of Control” in Section 1.1 of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:
          “Change of Control” shall mean any Person or two or more Persons
acting in concert (other than members of the West Family Group) shall have
acquired, directly or indirectly, by contract or otherwise, Voting Stock of the
Borrower (or other securities convertible into such Voting Stock) representing
50% or more of the combined voting power of all Voting Stock of the Borrower.
          (c) The definition of Consolidated Fixed Charge Coverage Ratio in
Section 1.1 of the Credit Agreement is hereby amended and restated in its
entirety to read as follows:
          “Consolidated Fixed Charge Coverage Ratio” shall mean, as of the end
of each fiscal quarter of the Consolidated Group for the four fiscal quarter
period ending on such date with respect to the Consolidated Group on a
consolidated basis, the ratio of (i) Consolidated EBITDA for the applicable
period minus Consolidated Capital Expenditures for the applicable period to
(ii) the sum of, without duplication, Consolidated Interest Expense for the
applicable period plus Scheduled Funded Debt Payments for the applicable period
plus payments made in connection with earnout obligations for the applicable
period to the extent permitted hereunder plus cash taxes paid during the
applicable period plus Restricted Payments made in accordance with the terms of
Sections 6.10(e) and (f) during the applicable period.
          (d) Clause (i) of the definition of Permitted Investments in
Section 1.1 of the Credit Agreement is hereby amended and restated in its
entirety to read as follows:
          (i) cash, Cash Equivalents, Call Options, and the purchase of shares
of Capital Stock upon exercise of such Call Options;
     1.2 Restrictions on Mergers and Consolidations. Section 6.4(b)(ii) of the
Credit Agreement is hereby amended and restated in its entirety to read as
follows:
          (ii) consummate any transaction of merger or consolidation, except for
(A) Investments or acquisitions (including Permitted Acquisitions) permitted
pursuant to Section 6.5, and (B) the merger or consolidation of a Credit Party
or other Subsidiary with and into another Credit Party, provided that if the
Borrower is a party thereto, the Borrower will be the surviving corporation.
     1.3 Restricted Payments. Section 6.10 of the Credit Agreement is hereby
amended and restated in its entirety to read as follows:

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          Section 6.10 Restricted Payments.
          Each of the Credit Parties will not, nor will it permit any Subsidiary
to, directly or indirectly, declare, order, make or set apart any sum for or pay
any Restricted Payment, except (a) to make dividends payable solely in the
common stock or equivalent equity interests of such Person, (b) to make
dividends or other distributions payable to the Borrower or any wholly owned
Subsidiary of the Borrower that is a Guarantor (directly or indirectly through
Subsidiaries), (c) to make dividends or other distributions payable to any
minority equity owner of a Subsidiary in an aggregate amount not to exceed such
minority equity owner’s equity interest in earnings for the current fiscal year
and undistributed earnings from prior fiscal years, (d) to purchase shares of
Capital Stock of the Borrower pursuant to the Call Options, (e) to make all
payments required under the Convertible Senior Notes, and (f) to make other
Restricted Payments so long as, in the case of this subsection (f), (i) no
Default or Event of Default exists either immediately before or after giving
effect to any such Restricted Payment and (ii) the Credit Parties shall be in
compliance with each of the financial covenants set forth in Section 5.9 after
giving effect to any such Restricted Payment on a pro forma basis.
ARTICLE II
CONDITIONS TO EFFECTIVENESS
          2.1 Closing Conditions.
          This Amendment shall become effective as of the date hereof (the
“First Amendment Effective Date”) upon satisfaction of the following conditions
(in form and substance reasonably acceptable to the Administrative Agent):
          (a) Executed Amendment. The Administrative Agent shall have received a
copy of this Amendment duly executed by each of the Credit Parties, the Required
Lenders and the Administrative Agent.
          (b) Other. The Administrative Agent shall have received such other
documents, agreements or information which it may reasonably request relating to
the Credit Parties and the transactions contemplated by this Amendment and any
other matters relevant hereto and thereto, all in form and substance
satisfactory to the Administrative Agent in its sole good faith discretion.
ARTICLE III
MISCELLANEOUS
          3.1 Amended Terms. All references to the Credit Agreement in each of
the Credit Documents shall hereafter mean the Credit Agreement as amended by
this Amendment. Except as specifically amended hereby or otherwise agreed, the
Credit Agreement is hereby ratified and confirmed and shall remain in full force
and effect according to its terms.

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     3.2 Representations and Warranties of Credit Parties. Each of the Credit
Parties represents and warrants as follows as of the date hereof:
          (a) It has taken all necessary action to authorize the execution,
delivery and performance of this Amendment.
          (b) This Amendment has been duly executed and delivered by such Person
and constitutes such Person’s valid and legally binding obligation, enforceable
in accordance with its terms, except as such enforceability may be subject to
(i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer,
moratorium or similar laws affecting creditors’ rights generally and
(ii) general principles of equity (regardless of whether such enforceability is
considered in a proceeding at law or in equity).
          (c) No consent, approval, authorization or order of, or filing,
registration or qualification with, any Governmental Authority or third party is
required in connection with the execution, delivery or performance by such
Person of this Amendment, except any filing required to be made by Borrower
pursuant to the Securities Exchange Act of 1934, as amended, as a result of this
Amendment.
          (d) The representations and warranties set forth in Article III of the
Credit Agreement are true and correct in all material respects as of the date
hereof (except for those which expressly relate to an earlier date).
     3.3 Acknowledgment of Guarantors. The Guarantors acknowledge and consent to
all of the terms and conditions of this Amendment and agree that this Amendment
and all documents executed in connection herewith do not operate to reduce or
discharge the Guarantors’ obligations under the Credit Documents.
     3.4 Credit Document. This Amendment shall constitute a Credit Document
under the terms of the Credit Agreement.
     3.5 Entirety. This Amendment and the other Credit Documents embody the
entire agreement between the parties hereto and supersede all prior agreements
and understandings, oral or written, if any, relating to the subject matter
hereof.
     3.6 Counterparts; Telecopy. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original,
but all of which shall constitute one and the same instrument. Delivery of an
executed counterpart to this Amendment by telecopy shall be effective as an
original and shall constitute a representation that an original will be
delivered.
     3.7 GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

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     3.8 Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The
jurisdiction, services of process and waiver of jury trial provisions set forth
in Sections 9.14 and 9.17 of the Credit Agreement are hereby incorporated by
reference, mutatis mutandis.
     3.9 Fees. The Borrower agrees to pay all fees and expenses of the
Administrative Agent in connection with the preparation, execution and delivery
of this Amendment, including, without limitation, the fees and expenses of Moore
& Van Allen PLLC.
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     IN WITNESS WHEREOF the Borrower, the Guarantors, the Required Lenders, and
the Administrative Agent have caused this Amendment to be duly executed on the
date first above written.

          BORROWER:   WEST CORPORATION,
a Delaware corporation
 
       
 
  By:   /s/ Paul M. Mendlik
 
            Name: Paul M. Mendlik     Title: Chief Financial Officer

     
GUARANTORS:
   
 
  WEST TELEMARKETING CORPORATION II,
 
  a Delaware corporation
 
   
 
  WEST INTERACTIVE CORPORATION,
 
  a Delaware corporation
 
   
 
  WEST FACILITIES CORPORATION,
 
  a Delaware corporation
 
   
 
  NORTHERN CONTACT, INC.,
 
  a Delaware corporation
 
   
 
  INTERCALL, INC.,
 
  a Delaware corporation
 
   
 
  INTERCALL TELECOM VENTURES, LLC,
 
  a Delaware limited liability company
 
   
 
  CONFERENCECALL.COM, INC.,
 
  a Delaware corporation
 
   
 
  WEST RECEIVABLE SERVICES, INC.,
 
  a Delaware corporation
 
   
 
  WEST ASSET MANAGEMENT, INC.,
 
  a Delaware corporation

         
 
  By:   /s/ Paul M. Mendlik
 
            Name: Paul M. Mendlik     Title: Chief Financial Officer

 

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  WEST INTERNATIONAL ASSET MANAGEMENT, LLC, a Nevada limited liability company
 
   
 
  BUYDEBTCO, LLC,
a Nevada limited liability company
 
   
 
  THE DEBT DEPOT, LLC,
a Delaware limited liability company
 
   
 
  ASSET DIRECT MORTGAGE, LLC,
a Delaware limited liability company

              WEST TELEMARKETING, LP,     a Delaware limited partnership
 
   
 
  By:   West Transaction Services, LLC,
 
      its General Partner

     
 
  WEST TRANSACTION SERVICES, LLC,
a Delaware limited liability company
 
   
 
  WEST TRANSACTION SERVICES II, LLC,
a Delaware limited liability company

              WEST BUSINESS SERVICES, LP,     a Delaware limited partnership
 
   
 
  By:   West Transaction Services, LLC,
 
      its General Partner

     
 
  WEST ASSET PURCHASING, LLC,
a Nevada limited liability company
 
   
 
  ECI CONFERENCE CALL SERVICES LLC,
a Delaware limited liability company

         
 
  By:   /s/ Paul M. Mendlik
 
            Name: Paul M. Mendlik     Title: Manager

 

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              WEST DIRECT, INC.,
    a Delaware corporation
 
       
 
  By:   /s/ Paul M. Mendlik
 
            Name: Paul M. Mendlik     Title: Treasurer

 

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          ADMINISTRATIVE AGENT AND LENDERS:   WACHOVIA BANK, NATIONAL
ASSOCIATION,     as Administrative Agent and as a Lender
 
       
 
  By:   /s/ Mark B. Felker
 
       
 
  Name:   Mark B. Felker
 
  Title:   Managing Director
 
      Wachovia Bank, National Association

 

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              WELLS FARGO BANK, N.A.
 
       
 
  By:   /s/ Timothy P. Sullivan
 
       
 
  Name:   Timothy P. Sullivan
 
  Title:   Senior Vice President

 

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              BANK OF AMERICA, N.A.
 
       
 
  By:   /s/ Steven K. Kessler
 
       
 
  Name:   Steven K. Kessler
 
  Title:   Senior Vice President

 

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              BNP PARIBAS
 
       
 
  By:   /s/ Timothy J. King
 
       
 
  Name:   Timothy J. King
 
  Title:   Managing Director
 
       
 
  By:   /s/ Gaye Plunkett
 
       
 
  Name:   Gaye Plunkett
 
  Title:   Vice President

 

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              U.S. BANK, N.A.
 
       
 
  By:   /s/ Karen Nelsen
 
       
 
  Name:   Karen Nelsen
 
  Title:   Vice President

 

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              LASALLE BANK NATIONAL ASSOCIATION
 
       
 
  By:   /s/ Julie Hahn
 
       
 
  Name:   Julie Hahn
 
  Title:   AVP

 

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              THE BANK OF NOVA SCOTIA
 
       
 
  By:   /s/ Mark Sparrow
 
       
 
  Name:   Mark Sparrow
 
  Title:   Director

 

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              FIRST NATIONAL BANK OF OMAHA
 
       
 
  By:   /s/ Mark A. Baratta
 
       
 
  Name:   Mark A. Baratta
 
  Title:   Vice President

 

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              KEY BANK NATIONAL ASSOCIATION
 
       
 
  By:   /s/ Vijaya Kulkarni
 
       
 
  Name:   Vijaya Kulkarni
 
  Title:   AVP

 

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              COMERICA BANK
 
       
 
  By:   /s/ Timothy O’Rourke
 
       
 
  Name:   Timothy O’Rourke
 
  Title:   Vice President

 

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              THE NORTHERN TRUST COMPANY
 
       
 
  By:   /s/ William R. Kopp
 
       
 
  Name:   William R. Kopp
 
  Title:   Vice President

 

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              COMMERCIAL FEDERAL BANK
 
       
 
  By:   /s/ William Honke
 
       
 
  Name:   William Honke
 
  Title:   Vice President

 

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              E. SUN COMMERCIAL BANK, LTD.,     LOS ANGELES BRANCH
 
       
 
  By:   /s/ Benjamin Lin
 
       
 
  Name:   Benjamin Lin
 
  Title:   EVP & General Manager