Thirteenth Amendment, dated August 15, 2008, to Credit Agreement



 Exhibit 10.45 
 THIRTEENTH AMENDMENT TO CREDIT AGREEMENT 
 THIS THIRTEENTH AMENDMENT TO CREDIT AGREEMENT
(this “Amendment”), dated as of August 15, 2008, is entered into by and among the lenders identified on the signature pages hereof (such lenders, together with their respective successors and permitted assigns, are referred
to hereinafter each individually as a “Lender” and collectively as the “Lenders”), WELLS FARGO FOOTHILL, INC., a California corporation, as administrative agent for the persons designated in the Credit
Agreement referred to below (in such capacity, together with its successors and assigns in such capacity, “Agent”), and INFOCUS CORPORATION, an Oregon corporation (“Borrower”). 
 RECITALS 
 A. Borrower, Agent and the
Lenders have previously entered into that certain Credit Agreement dated as of October 25, 2004, as amended by that certain First Amendment to Credit Agreement, Security Agreement and Waiver, dated as of December 3, 2004, that certain
Second Amendment to Credit Agreement, dated as of December 13, 2004, that certain Third Amendment to Credit Agreement and Waiver dated May 6, 2005, that certain Fourth Amendment to Credit Agreement, Second Amendment to Security Agreement
and Waiver dated November 4, 2005, that certain Fifth Amendment to Credit Agreement dated as of June 7, 2006, that certain Sixth Amendment to Credit Agreement and Waiver dated as of October 25, 2006, that certain Seventh Amendment to
Credit Agreement and Waiver dated as of February 6, 2007, that certain Eighth Amendment to Credit Agreement dated as of March 28, 2007, that certain Ninth Amendment to Credit Agreement dated as of August 30, 2007, that certain Tenth
Amendment to Credit Agreement dated as of December 28, 2008, that certain Eleventh Amendment to Credit Agreement dated as of February 28, 2008 and that certain Twelfth Amendment to Credit Agreement dated as of March 14, 2008 (as so
amended or otherwise modified or supplemented from time to time, the “Credit Agreement”), pursuant to which the Lenders have made certain loans and financial accommodations available to Borrower. Terms used herein without definition
shall have the meanings ascribed to them in the Credit Agreement. 
 B. The Lenders, Agent and Borrower now wish to further amend the Credit
Agreement on the terms and conditions set forth herein. 
 C. Borrower is entering into this Amendment with the understanding and agreement
that, except as specifically provided herein, none of Agent’s or any member of the Lender Group’s rights or remedies set forth in the Credit Agreement or any other Loan Document is being waived or modified by the terms of this Amendment.

 AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1. Amendment to Credit Agreement. Section 6.10 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

 “6.10 Distributions. Except for Permitted Distributions, make any distribution or declare or pay
any dividends (in cash or other property, other than common Stock) on, or purchase, acquire, redeem, or retire any of Borrower’s Stock, of any class, whether now or hereafter outstanding; provided, however, Borrower may repurchase its common
Stock to the 

  

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extent (i) the aggregate amount paid to redeem such Stock, exclusive of repurchase and redemption fees, does not exceed $200,000 and (ii) both
before and after giving effect to each such repurchase, no Default or Event of Default exists or would arise.” 
 2. Accommodation
Fee. In consideration of the agreements set forth herein, Borrower agrees to pay to Agent, for the benefit of the Lenders, a non-refundable accommodation fee in the amount of $10,000, which fee is fully-earned as of and due and payable in full
on the date of this Amendment (the “Accommodation Fee”). 
 3. Effectiveness of this Amendment. Agent must have
received the following items, in form and content acceptable to Agent, before this Amendment is effective. 
 (a) Executed
Amendment. This Amendment fully executed by all parties hereto in a sufficient number of counterparts for distribution to all parties. 
 (b) Payment of Accommodation Fee. The Accommodation Fee, which fee may be paid as a charge to Borrower’s Loan Account. 
 (c) Representations and Warranties. The representations and warranties contained herein shall be true and correct as of the date
hereof. 
 (d) Other Documents and Legal Matters. All other documents and legal matters in connection with the
transactions contemplated by this Amendment shall have been delivered or executed or recorded. 
 4. Representations and Warranties.
Borrower represents and warrants as follows: 
 (a) Authority. Borrower has the requisite corporate power and authority
to execute and deliver this Amendment, and to perform its obligations hereunder and under the Loan Documents (as amended or modified hereby and by any amendments thereto referenced herein) to which it is a party. The execution, delivery and
performance by Borrower of this Amendment have been duly approved by all necessary corporate action and no other corporate proceedings are necessary to consummate such transactions. 
 (b) Enforceability. This Amendment has been duly executed and delivered by Borrower. This Amendment and each Loan Document (as
amended or modified hereby) are the legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms, and is in full force and effect. 
 (c) Representations and Warranties. After giving effect to this Amendment, the representations and warranties contained in each
Loan Document (other than any such representations or warranties that, by their terms, are specifically made as of a date other than the date hereof) are correct on and as of the date hereof as though made on and as of the date hereof. 

(d) Due Execution. The execution, delivery and performance of this Amendment are within the power of Borrower, have been duly
authorized by all necessary corporate action, have received all necessary governmental approval, if any, and do not contravene any law or any contractual restrictions binding on Borrower. 
 (e) No Default. No event has occurred and is continuing that constitutes a Default or an Event of Default. 
  

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 5. Choice of Law. The validity of this Amendment, its construction, interpretation and
enforcement, the rights of the parties hereunder, shall be determined under, governed by, and construed in accordance with the internal laws of the State of New York governing contracts only to be performed in that State. 
 6. Counterparts. This Amendment may be executed in any number of counterparts and by different parties and separate counterparts, each of which
when so executed and delivered, shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by telefacsimile or other
similar method of electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment. 
 7.
Reference to and Effect on the Loan Documents. 
 (a) Upon and after the effectiveness of this Amendment, each
reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”,
“thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified and amended hereby. 
 (b) Except as specifically amended above, the Credit Agreement and all other Loan Documents are and shall continue to be in full force and
effect and are hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of Borrower to the Lender Group. 
 (c) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any
right, power or remedy of the Agent and Lender Group under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 
 (d) To the extent that any terms and conditions in any of the Loan Documents shall contradict or be in conflict with any terms or
conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified or amended hereby.

 8. Ratification. Borrower hereby restates, ratifies and reaffirms each and every term and condition set forth in the Credit
Agreement, as amended hereby, and the Loan Documents effective as of the date hereof. 
 9. Estoppel. To induce Agent and Lender Group
to enter into this Amendment and to continue to make advances to Borrower under the Credit Agreement, Borrower hereby acknowledges and agrees that, as of the date hereof, there exists no right of offset, defense, counterclaim or objection in favor
of Borrower as against any member of the Lender Group with respect to the Obligations. 
 10. Integration. This Amendment, together
with the other Loan Documents, incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof. 
 11. Severability. In case any provision in this Amendment shall be invalid, illegal or unenforceable, such provision shall be severable from the
remainder of this Amendment and the validity, 

  

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legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 [signature pages follow] 
  

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 IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above written.

  

			
	 INFOCUS CORPORATION,
 an Oregon
corporation

		
	By:	 	/s/ Lisa K. Prentice
	Name:	 	LISA K. PRENTICE
	Title:	 	CFO


 Signature Page to Thirteen Amendment to Credit Agreement 








			
	 WELLS FARGO FOOTHILL, INC.,
 a
California corporation,
 as Agent and a Lender

		
	By:	 	/s/ Thomas Forbath
	Name:	 	THOMAS FORBATH
	Title:	 	VP


 Signature Page to Thirteen Amendment to Credit Agreement