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Exhibit 10.21    
  

 
 

THIRD AMENDMENT
  TO
  LOAN AND SECURITY AGREEMENT    
  

        This Third Amendment to Loan and Security Agreement is entered into as of August 7, 2002 (the "Amendment"), by and between COMERICA
BANK—CALIFORNIA ("Bank") and SEEBEYOND TECHNOLOGY CORPORATION ("Borrower"). 

RECITALS  

        Borrower and Bank are parties to that certain Loan and Security Agreement dated as of December 4, 2000, as amended by that certain Amendment to Loan and
Security Agreement dated as of June 10, 2001, and by that certain Second Amendment to Loan and Security Agreement dated as of October 31, 2001, as amended from time to time (the
"Agreement"). The parties desire to amend the Agreement in accordance with the terms of this Amendment. 

        NOW,
THEREFORE, the parties agree as follows: 

        1.    Effective
as of June 29, 2002, Section 6.8 of the Agreement hereby is amended in its entirety to read as follows: 

	 	"6.8	 	Intentionally Omitted."

        2.    Effective
as of June 29, 2002, Section 6.9 of the Agreement hereby is amended in its entirety to read as follows: 

	 	"6.9	 	Intentionally Omitted."

        3.    Effective
as of June 29, 2002, Section 6.10 of the Agreement hereby is amended in its entirety to read as follows: 

	 	"6.10	 	Intentionally Omitted."

        4.    Effective
as of June 29, 2002, Section 6.11 of the Agreement hereby is amended in its entirety to read as follows: 

	 	"6.11	 	Intentionally Omitted."

        5.    Effective
as of June 29, 2002, Section 6.12 of the Agreement hereby is amended in its entirety to read as follows: 

	 	"6.12	 	Minimum Cash. Beginning with the month ended June 30, 2002, Borrower shall at all times maintain with Bank (or Comerica Securities, Inc., upon prior execution and delivery of a
securities account control agreement in form and content satisfactory to Bank), cash in a minimum aggregate amount of Twenty Five Million Dollars ($25,000,000)."

        6.    Exhibit D
to the Agreement hereby is replaced in its entirety with Exhibit D hereto. 

        7.    Unless
otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remain in
full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of
this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Borrower ratifies and reaffirms
the continuing effectiveness of all promissory notes, guaranties, security agreements, mortgages, deeds of trust, environmental agreements, and all other instruments, documents and agreements entered
into in connection with the Agreement. 

 

        8.    Borrower
represents and warrants that the representations and warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no
Event of Default has occurred and is continuing. 

        9.    This
Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. 

        10.  As
a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following: 

        (a)  this
Amendment, duly executed by Borrower; 

        (b)  a
certificate of the Secretary of the Borrower, or a unanimous consent of Borrower's Board of Directors, with respect to incumbency and resolutions authorizing the
execution and delivery of this Agreement; 

        (c)  an
Amendment fee of Ten Thousand Dollars ($10,000); 

        (d)  an
amount equal to all Bank Expenses incurred to date; and 

        (e)  such
other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate. 

        IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above written. 

	 	SEEBEYOND TECHNOLOGY CORPORATION
	 	 	 	 
	

 	

By:	
 	

/s/ Barry J. Plaga
	 	 	 	

	 	 	 	 
	

 	

Title:	
 	

Barry J. Plaga
	 	 	 	
 SVP & CFO
	 	 	 	 
	

 	

COMERICA BANK—CALIFORNIA
	 	 	 	 
	

 	

By:	
 	

/s/ Bonnie E. Kehl
	 	 	 	

	 	 	 	 
	

 	

Title:	
 	

SVP & Manager
	 	 	 	

2

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Exhibit 10.21

THIRD AMENDMENT TO LOAN AND SECURITY AGREEMENTQuickLinks
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EXHIBIT 10.1    
  

        PIK NOTE 

	$3,748,035.08	 	New York, New York
	

 	
 	

May 20, 2002

        FOR
VALUE RECEIVED, SUPERIOR TELECOMMUNICATIONS INC. (the "Borrower"), a Delaware corporation, hereby promises to pay to THE ALPINE
GROUP, INC., a Delaware corporation or its registered assigns (the "Holder"), in lawful money of the United States of America in immediately
available funds, at the office of the Holder located at One Meadowlands Plaza, East Rutherford, New Jersey 07073, or to an account as otherwise directed by the Holder, on the Maturity Date the
principal sum of Three Million Seven Hundred Forty-Eight Thousand Thirty-Five Dollars and Eight Cents ($3,748,035.08), due to the Holder from the Borrower pursuant to that certain
Reimbursement Agreement dated as of November 30, 2001 (the "Reimbursement Agreement") made by and among the Borrower, the Holder and Superior
TeleCom Inc., a Delaware corporation. Capitalized terms not defined herein have the meaning given to them in the Reimbursement Agreement. 

        The
Borrower promises also to pay interest on the unpaid principal amount hereof in like money at said office from the date hereof until paid at the rates and otherwise on the terms set
forth in Section 2.1 of the Reimbursement Agreement. 

        This
PIK Note (this "Note") evidences obligations of the Borrower under, and has been issued by the Borrower in accordance with, the terms
of the Reimbursement Agreement. The Holder and any subsequent holder hereof is entitled to the benefits of the Reimbursement Agreement and of the other Borrower Documents. 

        This
Note shall become due and payable (unless otherwise accelerated in accordance with the terms hereof or of the Reimbursement Agreement), including accrued and unpaid interest, on
May 20, 2009; provided, however, in no event shall this Note be payable until at least 366 days after the payment in full
of the Senior Subordinated Indebtedness (as the same may be amended or extended from time to time). 

        This
Note is subject to subordination and voluntary redemption, as provided in the Reimbursement Agreement. 

        The
Borrower irrevocably authorizes the Holder to make or cause to be made, at or about the time of making any advance or the receipt of any payment of principal of this Note, an
appropriate notation on the grid attached to this Note, or the continuation of such grid, or any other similar record, including computer records, reflecting the making of such advance or the receipt
of such payment. The outstanding amount set forth on the grid attached to this Note, or the continuation of such grid, or any other similar record, including computer records, maintained by the Holder
shall be prima facie evidence of the principal amount thereof owing and unpaid to the Holder, but the failure to record, or any error in so recording,
any such amount on any such grid, continuation or other record shall not limit or otherwise affect the obligation of the Borrower hereunder or under the Reimbursement Agreement to make payments of
principal of and interest on this Note when due. 

        In
case an Event of Default shall occur and be continuing, the principal of and accrued interest on this Note may become or be declared to be due and payable in the manner and with the
effect provided in the Reimbursement Agreement. 

        The
Borrower hereby waives presentment, demand, protest or notice of any kind in connection with this Note. 

        THIS
NOTE SHALL BE GOVERNED AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK. 

	 	 	SUPERIOR TELECOMMUNICATIONS INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	

	Name:	 	 	 	Title:

	Date
	 	Principal

Amount

of Note
	 	Amount of

Principal Paid

or Prepaid
	 	Balance of

Principal

Unpaid
	 	Notation

Made By:

	May 20, 2002	 	$	3,748,035.08	 	 	 	 	 	 
	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

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EXHIBIT 10.1QuickLinks
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EXHIBIT 10.2    
  

        AMENDMENT
NUMBER EIGHT, dated as of July 29, 2002 (this "Amendment"), to the Amended and Restated Credit Agreement dated as of
November 27, 1998, as previously amended, modified and supplemented and as last amended by Amendment Number Seven, dated as of March 28, 2002 (the "Credit
Agreement"), among SUPERIOR TELECOMMUNICATIONS INC. (formerly known as Superior/Essex Corp.), a Delaware corporation (the
"Company"), ESSEX GROUP INC., a Michigan corporation ("Essex" and, together with the Company, the
"Borrowers"), each of the Guarantors party thereto (the "Guarantors") (which Guarantors include Superior
TeleCom Inc., a Delaware corporation (the "Parent")), the lending institutions from time to time party thereto (each a
"Lender" and, collectively, the "Lenders"), BANKERS TRUST COMPANY, as Administrative Agent, MERRILL
LYNCH & CO., as Documentation Agent, and FLEET NATIONAL BANK, as Syndication Agent (the "Agents"). Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to them in the Credit Agreement. 

        WHEREAS,
pursuant to the Credit Agreement, the Lenders have agreed to make, and have made, certain loans and other extensions of credit to the Borrowers; 

        WHEREAS,
the Borrowers have requested that the Agents and the Lenders amend certain sections of the Credit Agreement relating, among other things, to (i) the timing of certain
scheduled term loan repayments and (ii) the timing for testing compliance by the Borrowers with certain financial covenants; and 

        WHEREAS,
the Agents and the Lenders have considered and agreed to the Borrowers' requests, upon the terms and conditions set forth in this Amendment; and 

        WHEREAS,
the consent of the Required Lenders and the Required Lenders of each Tranche of Term Loans is necessary to effect this Amendment; 

        NOW,
THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby
agree as follows: 

 
 

SECTION ONE—AMENDMENTS    
  

        1.1.    Amendments to Section 4 (Payments) of the Credit Agreement.    

        (a)
Section 4.02(b) shall be amended by deleting the text thereof in its entirety and replacing it with the following: 

        "(b)
In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date set forth below, the Borrowers shall be required to repay
that principal amount of Tranche A Term Loans, to the extent then outstanding, set forth opposite such date (each such repayment, as the same may be reduced as provided in Sections 4.01 and 4.02(i), a 

 

"Tranche A Term Loan Scheduled Repayment," and each such date, a "Tranche A Term Loan Scheduled Repayment
Date"): 

	Tranche A Term Loan

Scheduled Repayment Date
	 	Amount

	September 16, 2002	 	4,088,424.28
	September 30, 2002	 	7,672,566.98
	October 31, 2002	 	1,069,341.18
	November 29, 2002	 	4,508,145.09
	December 31, 2002	 	8,167,599.72
	January 31, 2003	 	8,553,394.43
	

Quarterly Payment Date in March 2003	
 	

11,250,571.24
	Quarterly Payment Date in June 2003	 	11,250,571.24
	Quarterly Payment Date in September 2003	 	11,250,571.24
	Quarterly Payment Date in December 2003	 	48,384,770.40
	May 27, 2004	 	190,622,685.16

All
Tranche A Term Loans will be repaid on the Tranche A Term Loan Maturity Date." 

        (b)
Section 4.02(c) shall be amended by deleting the text thereof in its entirety and replacing it with the following: 

        "(c)
In addition to any other mandatory repayments or commitment reductions pursuant to this Section 4.02, on each date set forth below, the Borrowers shall be required to repay
that principal amount of Tranche B Term Loans, to the extent then outstanding, set forth opposite such date (each such repayment, as the same may be reduced as provided in Sections 4.01
and 4.02(i), a "Tranche B Term Loan Scheduled Repayment," and each such date, a "Tranche B Term Loan Scheduled
Repayment Date"): 

	Tranche B Term Loan

Scheduled Repayment Date
	 	Amount

	September 16, 2002	 	5,194,540.72
	September 30, 2002	 	9,748,367.33
	October 31, 2002	 	1,358,649.67
	November 29, 2002	 	5,727,816.31
	December 31, 2002	 	10,377,330.35
	January 31, 2003	 	10,867,501.19
	

Quarterly Payment Date in March 2003	
 	

14,294,394.73
	Quarterly Payment Date in June 2003	 	14,294,394.73
	Quarterly Payment Date in September 2003	 	14,294,394.73
	Quarterly Payment Date in December 2003	 	61,475,190.25
	

Quarterly Payment Date in March 2004	
 	

36,502,264.99
	Quarterly Payment Date in June 2004	 	34,282,178.89
	Quarterly Payment Date in September 2004	 	34,282,178.89
	Quarterly Payment Date in December 2004	 	34,282,178.89
	

Quarterly Payment Date in March 2005	
 	

34,282,178.89
	Quarterly Payment Date in June 2005	 	34,282,178.89
	November 27, 2005	 	34,241,912.87

All
Tranche B Term Loans will be repaid on the Tranche B Term Loan Maturity Date." 

2

 

        1.2    Amendment to Section 7.19 (Receivables Financing Agreement) of the Credit Agreement.    

        Section 7.19
of the Credit Agreement is hereby amended by deleting the phrase "four weeks" contained therein and inserting in lieu thereof the phrase "two weeks". 

        1.3    Amendment to Section 8.11A (Monthly Covenants) of the Credit Agreement.    

        Section 8.11A
of the Credit Agreement is hereby amended by adding the following new paragraph immediately following the last paragraph thereof: 

        "Notwithstanding
anything to the contrary contained in this Section 8.11A, (i) the Company will not be required to comply with Section 8.11A(c) with respect to the
month ended June 30, 2002, and (ii) the Company will not be required to comply with Section 8.11A(a) with respect to the month ended July 31, 2002. Notwithstanding anything
to the contrary contained in this Section 8.11A or in Section 7.01(a), compliance by the Company with Section 8.11A(b) with respect to the month ended August 31, 2002 shall
be tested on September 16, 2002." 

        1.4    Amendment to Section 8 (Negative Covenants) of the Credit Agreement    

        Section 8
of the Credit Agreement is hereby amended by adding the following new Section 8.18 immediately following Section 8.17 at the end thereof: 

        "Section 8.18.    New Receivables Financing Agreements.    The Company will not, and will not permit any of its
Subsidiaries to, enter into any new accounts receivable facility which replaces the Essex Funding Agreement without the consent of the majority (in number) of the Lenders on the Steering Committee of
the Lenders." 

 
 

SECTION TWO—CONDITIONS TO EFFECTIVENESS    
  

        (a) This Amendment shall become effective on the date (the "Amendment No. 8 Effective Date") on which the
Administrative Agent shall have received: 

        (i)    counterparts
of this Amendment executed by each Borrower, the Required Lenders and the Required Lenders of each Tranche of Term Loans; 

        (ii)  payment
in full of all out-of-pocket costs and expenses (including, without limitation, the reasonable fees and disbursements of Simpson
Thacher & Bartlett and Policano & Manzo) pursuant to the Credit Agreement (which costs and expenses shall be paid by wire transfer of immediately available funds and distributed by the
Administrative Agent to the parties entitled thereto); and 

        (iii)  an
Officer's Certificate from the Borrowers certifying that no Default or Event of Default has occurred or is continuing (after giving effect to this Amendment) and,
in the view of the Steering Committee of the Lenders, no material adverse fact or circumstance or development has become known or been disclosed. 

        (b)
The effectiveness of this Amendment (other than Section Three) is further conditioned upon the accuracy of the representations and warranties set forth in Section Three hereof. 

 
 

SECTION THREE—REPRESENTATIONS AND WARRANTIES    
  

        Each of the Parent and the Company hereby confirms, reaffirms and restates the representations and warranties made by it in Section 6 of the Credit
Agreement and all such representations and warranties are true and correct in all material respects as of the date hereof (it being understood and agreed that any representation or warranty which by
its terms is made as of a specified date shall be required to be true and correct only as of such specified date), except such representations and warranties need not be true and correct to the extent
that changes in the facts and conditions on which 

3

 

such representations and warranties are based are required or permitted under the Credit Agreement or such changes arise out of events not prohibited by the covenants set forth in Sections 7
and 8 of the Credit Agreement or otherwise permitted by consents or waivers. The Company hereby further represents and warrants (which representations and warranties shall survive the execution and
delivery hereof) to the Agents and each Lender that: 

        (a)  Each
Credit Party has the corporate power and authority to execute, deliver and perform this Amendment and has taken all corporate actions necessary to authorize the
execution, delivery and performance of this Amendment; 

        (b)  No
Default or Event of Default has occurred and is continuing; 

        (c)  No
consent of any person other than all of the Lenders and the Agents parties hereto, and no consent, permit, approval or authorization of, exemption by, notice or
report to, or registration, filing
or declaration with, any governmental authority is required in connection with the execution, delivery, performance, validity or enforceability against any Credit Party of this Amendment; 

        (d)  This
Amendment has been duly executed and delivered on behalf of each Credit Party by a duly authorized officer or attorney-in-fact of such
Credit Party, and constitutes a legal, valid and binding obligation of each Credit Party enforceable against such Credit Party in accordance with its terms, except as such enforceability may be
limited by (a) bankruptcy, insolvency, fraudulent conveyance, preferential transfer, reorganization, moratorium or other similar laws now or hereafter in effect relating to or affecting
creditors' rights and remedies generally, (b) general principles of equity (whether such enforceability is considered in a proceeding in equity or at law), and by the discretion of the court
before which any proceeding therefor may be brought, or (c) public policy considerations or court administrative, regulatory or other governmental decisions that may limit rights to
indemnification or contribution or limit or affect any covenants or agreements relating to competition or future employment; and 

        (e)  The
execution, delivery and performance of this Amendment will not violate (i) any provision of law applicable to any Credit Party or (ii) any contractual
obligation of any Credit Party, other than such violations that would not reasonably be expected to result in, singly or in the aggregate, a Material Adverse Effect. 

 
 

SECTION FOUR—MISCELLANEOUS    
  

        (a)  Except
as herein expressly amended, the Credit Agreement and all other agreements, documents, instruments and certificates executed in connection therewith, except as
otherwise provided herein, are ratified and confirmed in all respects and shall remain in full force and effect in accordance with their respective terms. 

        (b)  This
Amendment may be executed by the parties hereto in one or more counterparts, each of which shall be an original and all of which shall constitute one and the same
agreement. 

        (c)  THIS
AMENDMENT SHALL BE GOVERNED BY, CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

        (d)  This
Amendment shall not constitute a consent or waiver to or modification of any provision, term or condition of the Credit Agreement, other than such terms,
provisions, or conditions that are required to consummate the transactions contemplated by this Amendment. All terms, provisions,
covenants, representations, warranties, agreements and conditions contained in the Credit Agreement, as amended hereby, shall remain in full force and effect. 

        (e)  Each
of the Borrowers, the Parent and their respective Subsidiaries acknowledges and consents to all of the terms and conditions of this Amendment and agrees that this
Amendment and all 

4

 

documents executed in connection herewith do not operate to reduce or discharge such obligations of the Borrowers, the Parent and their respective Subsidiaries under the Credit Agreement or the other
Credit Documents. Each of the Borrowers, the Parent and their respective Subsidiaries further acknowledges and agrees that such Borrowers, the Parent and their respective Subsidiaries each has no
claims, counterclaims, offsets, or defenses to the Credit Documents and the performance of such obligations of the Borrowers, the Parent and their respective Subsidiaries thereunder or if such
Borrowers, the Parent and their respective Subsidiaries did have any such claims, counterclaims, offsets or defenses to the Credit Documents or any transaction related to the Credit Documents, the
same are hereby waived, relinquished and released in consideration of the Lenders' execution and delivery of this Amendment. Each of the Borrowers, the Parent and their respective Subsidiaries listed
as a Guarantor on the signature pages hereof acknowledges that it is a Guarantor under the Credit Agreement. 

5

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EXHIBIT 10.2

SECTION ONE—AMENDMENTS

SECTION TWO—CONDITIONS TO EFFECTIVENESS

SECTION THREE—REPRESENTATIONS AND WARRANTIES

SECTION FOUR—MISCELLANEOUS

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