Exhibit 10.1
FOURTH AMENDMENT TO LOAN AGREEMENT
THIS FOURTH AMENDMENT TO LOAN AGREEMENT (this "Fourth Amendment" or this
"Amendment") is entered into as of November 2, 2009 (the "Execution Date"), to
be effective as of October 30, 2009, by and between AMERICAN BUSINESS LENDING,
INC., a Texas corporation ("Borrower"), and WELLS FARGO FOOTHILL, LLC, a
Delaware limited liability company ("Lender"), with reference to the following
facts, which shall be construed as part of this Fourth Amendment:
RECITALS
A.
Borrower and Lender have entered into that certain Loan Agreement
dated as of December 15, 2006, as amended by that certain First Amendment to
Loan Agreement dated as of February 27, 2007, that certain Second Amendment to
Loan Agreement dated as of July 30, 2007, to be effective as of June 30, 2007,
and that certain Third Amendment to Loan Agreement dated as of February 18,
2009, to be effective as of February 1, 2009 (as amended or modified from time
to time, the "Loan Agreement"), pursuant to which Lender is providing financial
accommodations to or for the benefit of Borrower upon the terms and conditions
contained therein.
Unless otherwise defined herein, capitalized terms or
matters of construction defined or established in the Loan Agreement shall be
applied herein as defined or established therein.
B.
Borrower has requested that Lender agree to certain amendments to
the Loan Agreement, and Lender is willing to do so to the extent provided in,
and subject to the terms and conditions of, this Fourth Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the continued performance by Borrower of its
promises and obligations under the Loan Agreement and the other Loan Documents,
and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Borrower and Lender hereby agree as follows:
1.
RATIFICATION AND INCORPORATION OF LOAN AGREEMENT AND OTHER LOAN
DOCUMENTS.
EXCEPT AS EXPRESSLY MODIFIED UNDER THIS FOURTH AMENDMENT,
(A) BORROWER HEREBY ACKNOWLEDGES, CONFIRMS, AND RATIFIES ALL OF THE TERMS AND
CONDITIONS SET FORTH IN, AND ALL OF ITS OBLIGATIONS UNDER, THE LOAN AGREEMENT
AND THE OTHER LOAN DOCUMENTS, AND (B) ALL OF TERMS AND CONDITIONS SET FORTH IN
THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS ARE INCORPORATED HEREIN BY THIS
REFERENCE AS IF SET FORTH IN FULL HEREIN.
2.
AMENDMENTS TO THE LOAN AGREEMENT.
THE LOAN AGREEMENT IS HEREBY
AMENDED AS FOLLOWS:
2.1
ADDITION OF NEW DEFINED TERMS.
SECTION 1.1 OF THE LOAN AGREEMENT
IS AMENDED BY ADDING THERETO IN APPROPRIATE ALPHABETICAL ORDER THE FOLLOWING NEW
DEFINED TERMS:
A.
"FOURTH AMENDMENT" SHALL MEAN THE FOURTH AMENDMENT TO LOAN
AGREEMENT DATED AS OF NOVEMBER 2, 2009, TO BE EFFECTIVE AS OF OCTOBER 30, 2009,
BETWEEN BORROWER AND LENDER.
B.
"FOURTH AMENDMENT CLOSING DATE" SHALL MEAN THE DATE ON WHICH ALL
CONDITIONS PRECEDENT SET FORTH IN THE FOURTH AMENDMENT HAVE BEEN SATISFIED IN A
MANNER ACCEPTABLE TO LENDER OR WAIVED IN WRITING BY LENDER AS PROVIDED THEREIN,
WHICH DATE SHALL BE CONFIRMED BY LENDER TO BORROWER IN WRITING UPON REQUEST.
C.
"FOURTH