Exhibit 10.1

 

Fourth Amendment

to

Credit Agreement

 

This Fourth Amendment to Credit Agreement (this “Amendment”) is effective as of
July 30, 2004 (the “Fourth Amendment Closing Date”), by and among SOURCECORP,
Incorporated, formerly known as F.Y.I. Incorporated, a Delaware corporation
(“Borrower”), Bank of America, N.A., as a Lender and as Administrative Agent for
Lenders (in such capacity, “Administrative Agent”) and the other Agents and
Lenders party hereto.

 

A.           Borrower, Administrative Agent and Lenders entered into that
certain Credit Agreement dated as of April 3, 2001, as amended by the First
Amendment to Credit Agreement dated as of June 27, 2001, as further amended by
the Second Amendment to Credit Agreement dated as of September 27, 2002, and as
further amended by the Third Amendment to Credit Agreement dated as of March 26,
2003 (such Credit Agreement, as so amended, the “Credit Agreement”).

 

B.            Borrower has requested that certain terms and provisions of the
Credit Agreement be amended.

 

C.            Borrower, Administrative Agent and Required Lenders have agreed to
amend the Credit Agreement subject to and upon the terms and conditions provided
herein.

 

NOW, THEREFORE, in consideration of the mutual promises herein contained, and
for other valuable consideration, the parties hereto agree as follows:

 

Section 1.  Defined Terms; References.  Unless otherwise specifically defined
herein, each term used herein that is defined in the Credit Agreement shall have
the meaning assigned to such term in the Credit Agreement.

 

Section 2.  Amendments to Credit Agreement.  Effective as of the Fourth
Amendment Closing Date, but subject to satisfaction of the conditions precedent
set forth in Section 3 hereof, the Credit Agreement is hereby amended as
follows:

 

(a)           Section 1.1 of the Credit Agreement is hereby amended to add the
following definition:

 

“Fourth Amendment Closing Date” means July 30, 2004.

 

(b)           The definition of “Permitted Share Repurchases” in Section 1.1 of
the Credit Agreement is hereby amended to read in its entirety as follows:

 

“Permitted Share Repurchases” means repurchases by F.Y.I. of F.Y.I. Common Stock
made (a) after the Closing Date and prior to the Fourth Amendment Closing Date,
in an aggregate amount not to exceed $30,000,000, and (b) on or after the Fourth
Amendment Closing Date, in an aggregate amount not to exceed $30,000,000.

 

(c)           Schedules 7.5 and 7.7 to the Credit Agreement are hereby amended
to include the information set forth on Schedules 7.5 and 7.7 attached hereto,
and Schedules 7.13 and 7.15 to the Credit Agreement are hereby amended in their
entirety to read as set forth in Schedules 7.13 and 7.15 attached hereto.

 

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Section 3.  Conditions to Effectiveness.  This Amendment shall become effective
as of the Fourth Amendment Closing Date when and if Administrative Agent has
received the following:

 

(a)           this Amendment, duly executed by Borrower, each guarantor, the
Required Lenders and Administrative Agent;

 

(b)           a certificate of a Responsible Officer, certifying (i) the
resolutions adopted by the board of directors of Borrower authorizing this
Amendment, and (ii) the names and true signatures of the officers of Borrower
authorized to execute and deliver this Amendment; and

 

(c)           such other assurances, certificates, documents, consents and
opinions as the Administrative Agent may reasonably require.

 

Section 4.  Representations and Warranties of Borrower.  Borrower represents and
warrants to Lenders and Administrative Agent as follows:

 

(a)           The execution, delivery and performance by Borrower of this
Amendment and the Credit Agreement, as amended hereby, have been duly authorized
by all necessary corporate action and do not and will not (i) require any
consent or approval not heretofore obtained of any director, stockholder,
security holder or creditor of Borrower, (ii) violate or conflict with any
provision of Borrower’s Articles of Incorporation or bylaws, (iii) result in or
require the creation or imposition of any Lien upon or with respect to any
property now owned or leased or hereafter acquired by Borrower, (iv) violate any
laws applicable to Borrower or (v) result in a breach of or constitute a default
under, or cause or permit the acceleration of any obligation owed under, any
indenture or loan or credit agreement or any other material agreement to which
Borrower is a party or by which Borrower or any of its Property is bound or
affected.

 

(b)           No authorization, consent, approval, order, license or permit
from, or filing, registration or qualification with, any Governmental Authority
is or will be required to authorize or permit under applicable law the
execution, delivery and performance by Borrower of this Amendment and the Credit
Agreement, as amended hereby.

 

(c)           Each of this Amendment and the Credit Agreement, as amended
hereby, has been duly executed and delivered by Borrower and constitutes the
legal, valid and binding obligation of Borrower, enforceable against Borrower in
accordance with its terms, except as enforcement may be limited by the
Bankruptcy Code and other debtor relief laws or equitable principles relating to
the granting of specific performance and other equitable remedies as a matter of
judicial discretion.

 

(d)           The requirements of Article 5 of the Credit Agreement have been
fully complied with in all material respects on or before the Fourth Amendment
Closing Date.

 

(e)           The representations and warranties of Borrower contained in
Article 7 of the Credit Agreement are true and correct in all material respects
as though made on and as of the Fourth Amendment Closing Date (except to the
extent such representations and warranties expressly refer to an earlier date,
in which case they are true and correct as of such earlier date, and except to
the extent that such representations and warranties are made with reference to
the information contained in the Schedules to the Credit Agreement, in which
case such representations, warranties and Schedules shall be deemed to be
modified  or supplemented by (i) information provided in public filings made by
Borrower with the Securities and Exchange Commission since March 26, 2003 (the
“Third Amendment Date”), or (ii) transactions that have occurred since the Third
Amendment Date that were permitted under the Credit Agreement).

 

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(f)            No Default or Event of Default exists or would result from the
effectiveness of this Amendment.

 

(g)           Borrower agrees to perform such acts and duly authorize, execute,
acknowledge, deliver, file, and record such additional documents and
certificates as Administrative Agent may reasonably request in order to create,
perfect, preserve, and protect those guaranties, assurances, and Liens.

 

Section 5.  Reference to and Effect on Loan Documents.

 

(a)           On and after the Fourth Amendment Closing Date, each reference in
the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or any
other expression of like import referring to the Credit Agreement, and each
reference in the other Loan Documents to “the Credit Agreement,” “thereunder,”
“thereof,” “therein” or any other expression of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement as
amended by this Agreement.

 

(b)           Except as specifically amended hereby, all provisions of the
Credit Agreement and all Loan Documents shall remain in full force and effect
and are hereby ratified and confirmed.

 

(c)           Except as otherwise expressly provided herein, the execution,
delivery and effectiveness of this Amendment shall not operate as a waiver of
any right, power or remedy of any Lender or the Administrative Agent under any
of the Loan Documents or constitute a waiver of any provision of any of the Loan
Documents.

 

(d)           Borrower (i) ratifies and confirms all provisions of the Loan
Documents applicable to Borrower, and (ii) ratifies and confirms that all
guaranties, assurances, and Liens granted, conveyed, or assigned to
Administrative Agent under the Loan Documents by Borrower are not released,
reduced, or otherwise adversely affected by this Amendment and continue to
guarantee, assure, and secure full payment and performance of the present and
future Obligations to the full extent required by the Loan Documents.

 

Section 6.  Costs and Expenses.  Borrower agrees to pay on demand all reasonable
costs and expenses of the Administrative Agent in connection with the
preparation, execution and delivery of this Amendment and the other instruments
and documents to be delivered hereunder, including the reasonable fees and
out-of-pocket expenses of counsel for the Administrative Agent with respect
thereto and with respect to advising the Administrative Agent as to its rights
and responsibilities hereunder and thereunder.

 

Section 7.  Execution in Counterparts.  This Amendment may be executed in any
number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed and delivered shall be deemed to be an original and
all of which taken together shall constitute one and the same instrument.  This
agreement, when countersigned by the parties hereto, shall be a “Loan Document”
as defined and referred to in the Credit Agreement and the other Loan Documents.

 

Section 8.  Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS.

 

Section 9.  ENTIRETY.  THIS AMENDMENT, THE CREDIT AGREEMENT, THE NOTES AND THE
OTHER LOAN DOCUMENTS EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO
AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND
UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF
AND

 

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MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO.  THERE ARE NO
ORAL AGREEMENTS AMONG THE PARTIES HERETO.

 

Remainder of Page Intentionally Left Blank. Signature Pages Follow.

 

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SOURCECORP, INCORPORATED, as Borrower

 

 

 

 

 

By:

/s/ Barry L. Edwards

 

 

 

Barry L. Edwards

 

 

Executive Vice President and Chief Financial
Officer

 

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ADMINISTRATIVE AGENT:

 

 

 

 

 

BANK OF AMERICA, N.A., as Administrative Agent

 

 

 

 

 

By:

/s/ Suzanne M. Paul

 

 

 

Suzanne M. Paul,

 

 

Vice President

 

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LENDERS:

 

 

 

 

 

BANK OF AMERICA, N.A., as a Lender

 

 

 

 

 

By:

/s/ Steven A. Mackenzie

 

 

 

Steven A. Mackenzie,

 

 

Senior Vice President

 

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BANK ONE, N.A., as a Lender

 

 

 

 

 

 

By:

 

/s/ Sharon Ellis

 

 

 

Name:

Sharon Ellis

 

 

 

Title:

Vice President

 

 

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BNP PARIBAS, as a Lender

 

 

 

 

 

 

 

By:

 

/s/ Jeff Tebeaux

 

 

 

Name:

Jeff Tebeaux

 

 

 

Title:

Vice President

 

 

 

 

 

 

 

 

 

 

 

 

/s/ Henry F. Setina

 

 

 

 

Henry F. Setina

 

 

 

Director

 

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HIBERNIA NATIONAL BANK, as a Lender

 

 

 

 

 

By:

 

/s/ Michael R. Geissler

 

 

 

Name:

Michael R. Geissler

 

 

 

Title:

Vice President

 

 

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JPMORGAN CHASE BANK, as a Lender

 

 

 

 

 

 

 

 

 

 

By:

 

/s/ Michael J. Lister

 

 

 

Name:

Michael J. Lester, Vice President

 

 

 

Title:

JPMorgan Chase Bank

 

 

11

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THE BANK OF NOVA SCOTIA, as a Lender

 

 

 

 

 

 

 

 

 

 

 

 

By:

 

/s/ Liz Hanson

 

 

 

Name:

Liz Hanson

 

 

 

Title:

Managing Director

 

 

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SUNTRUST BANK, as syndication agent and as a
Lender

 

 

 

 

 

 

 

By:

 

/s/ Daniel S. Komitor

 

 

 

Name:

Daniel S. Komitor

 

 

Title:

Director

 

 

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TEXAS CAPITAL BANK, N.A., as a Lender

 

 

 

 

 

 

 

By:

 

/s/ Paul Howell

 

 

Name:

Paul Howell

 

 

Title:

Vice President

 

 

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WACHOVIA BANK, as a Lender

 

 

 

 

 

 

 

 

 

 

By:

 

/s/ Steven Hipsman

 

 

 

Name:

Steven Hipsman

 

 

 

Title:

Director

 

 

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WASHINGTON MUTUAL BANK, as a Lender

 

 

 

 

 

 

 

By:

 

/s/ Gary Perkins

 

 

 

Name:

Gary Perkins

 

 

 

Title:

Vice President

 

 

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WELLS FARGO BANK, N.A., as documentation agent
and as a Lender

 

 

 

 

 

By:

 

/s/ Lance Reynolds

 

 

 

Name:

Lance Reynolds

 

 

 

Title:

AVP

 

 

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To induce Administrative Agent and Lenders to enter into this Amendment, the
undersigned (a) consent and agree to its execution and delivery and the terms
and conditions thereof, (b) consent and agree that this document in no way
releases, diminishes, impairs, reduces, or otherwise adversely affects any
Liens, charges, guaranties, assurances, or other obligations or undertakings of
any of the undersigned under any Loan Documents, all of which are hereby
ratified and confirmed, and (c) waive notice of acceptance of this Amendment,
which Amendment binds each of the undersigned and their respective successors
and permitted assigns and inures to Administrative Agent, Lenders and their
respective successors and permitted assigns.

 

 

 

GUARANTORS:

 

 

 

ALS ACQUISITION CORP.

 

AMERICAN ECONOMICS GROUP, INC.

 

APS SERVICES ACQUISITION CORP.

 

ASSOCIATE RECORD TECHNICIAN SERVICES
ACQUISITION CORP.

 

CALIFORNIA MEDICAL RECORD SERVICE
ACQUISITION CORP.

 

COPY RIGHT, INC.

 

DELIVEREX ACQUISITION CORP.

 

DOCTEX ACQUISITION CORP.

 

ECONOMIC RESEARCH SERVICES, INC.

 

ELS ACQUISITION CORP.

 

EXIGENT COMPUTER GROUP, INC.

 

FASTRIEVE, INC.

 

GLOBAL DIRECT, INC.

 

IMC MANAGEMENT, INC.

 

INFORMATION MANAGEMENT SERVICES, INC.

 

INPUT MANAGEMENT, INC.

 

LEXICODE CORPORATION

 

LIFO MANAGEMENT, INC.

 

MAILING & MARKETING, INC.

 

MANAGED CARE PROFESSIONALS, INC.

 

MAVRICC MANAGEMENT SYSTEMS, INC.

 

MMS ESCROW AND TRANSFER AGENCY, INC.

 

NEWPORT BEACH DATA ENTRY, LLC

 

PENINSULA RECORD MANAGEMENT, INC.

 

PERMANENT RECORDS MANAGEMENT, INC.

 

PLM MANAGEMENT, INC.

 

PMI IMAGING SYSTEMS ACQUISITION CORP.

 

PREMIER ACQUISITION CORP.

 

QUALITY COPY ACQUISITION CORP.

 

RECORDEX ACQUISITION CORP.

 

RTI LASER PRINT SERVICES ACQUISITION
CORP.

 

SOURCECORP BPS INC.

 

SOURCECORP BPS MARYLAND LLC

 

SOURCECORP BPS NORTHERN CALIFORNIA INC.

 

SOURCECORP BPS SOUTHERN CALIFORNIA INC.

 

SOURCECORP DMS INC.

 

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SOURCECORP HEALTHSERVE RADIOLOGY, INC.

 

SOURCECORP HS INC.

 

SOURCECORP LEGAL INC.

 

SRCP INVESTMENTS HOLDING, INC.

 

SRCP MANAGEMENT, INC.

 

STAT HEALTHCARE CONSULTANTS, INC.

 

SYNERGEN, LLC

 

THE RUST CONSULTING GROUP, INC.

 

UNITED INFORMATION SERVICES, INC.

 

ZIA INFORMATION ANALYSIS GROUP, INC.

 

 

 

By:

/s/ Barry L. Edwards

 

 

 

Barry L. Edwards, Authorized Officer for each
of the foregoing Guarantors

 

 

 

SRCP INVESTMENTS, INC.

 

 

 

 

 

 

 

 

By:

 

/s/ Ronald Zazworsky

 

 

 

Name:

Ronald Zazworsky

 

 

 

Title:

President

 

 

 

 

 

 

 

SOURCECORP MANAGEMENT, L.P.

 

 

 

 

 

 

 

By:

SRCP Management, Inc., its General Partner

 

 

 

 

 

 

 

 

By:

/s/ Barry L. Edwards

 

 

 

Barry L. Edwards,

 

 

 

Vice President

 

 

 

 

SOURCECORP BPS TEXAS L.P.

 

 

 

 

 

By:

Input Management, Inc., its General Partner

 

 

 

 

 

 

 

 

 

By:

/s/ Barry L. Edwards

 

 

 

Barry L. Edwards,

 

 

 

Vice President

 

 

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LIFO SYSTEMS, L.P.

 

 

 

 

By:

LIFO Management, Inc., its General Partner

 

 

 

 

 

 

 

 

 

By:

/s/ Barry L. Edwards

 

 

 

Barry L. Edwards,

 

 

 

Vice President

 

 

 

 

PERMANENT RECORDS, L.P.

 

 

 

 

 

 

 

By:

Permanent Records Management, Inc., its
General Partner

 

 

 

 

 

 

 

By:

/s/ Barry L. Edwards

 

 

 

Barry L. Edwards,

 

 

 

Vice President

 

 

 

PLM LIMITED PARTNERSHIP.

 

 

 

 

 

 

 

By:

PLM Management, Inc., its General Partner

 

 

 

 

 

 

 

 

 

By:

/s/ Barry L. Edwards

 

 

 

Barry L. Edwards,

 

 

 

Vice President

 

 

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