Document:

<PAGE>

                                                                    EXHIBIT 10.2

                                  [CHASE LOGO]

                                 March 22, 2006

WHITE ELECTRONIC DESIGNS CORPORATION
3601 East University Drive
Phoenix, Arizona 85034

      Re:   Loan by JPMORGAN CHASE BANK, N.A. (successor by merger to Bank One,
            NA (Main Office Chicago)) ("Lender") to WHITE ELECTRONIC DESIGNS
            CORPORATION ("Borrower")

Ladies and Gentlemen;

      Lender has extended to Borrower credit pursuant to the Loan and Security
Agreement, dated January 7, 2000 (as amended from time to time, "Loan
Agreement") in the principal amount of $12,000,000.00 (the "Loan") and evidenced
by the Promissory Note, dated June 30, 2000 ("Note"). Capitalized terms used
herein and not otherwise defined shall have the meanings given them the Loan
Agreement.

      Lender and Borrower agree to amend the Loan Documents as follows:

      1. The definition of "Termination Date" in the Loan Agreement is hereby
amended to mean June 28, 2006.

      2. The definition of "Maturity Date" in the Note is hereby amended to mean
June 28, 2006.

      All other terms and conditions of the Loan Agreement and the other Loan
Documents shall remain unchanged and in full force and effect. All property or
rights to or interest in property granted as security for the Loan, shall remain
as security for the Loan and the obligations of Borrower in the Loan Documents.

      JPMorgan Chase Bank, N.A. - Commercial Banking - PO BOX 71, Phoenix,
                                  AZ 85001-0071

<PAGE>

                              CONSENT AND AGREEMENT

The foregoing amendments are hereby consented and agreed to this 27 day of
March, 2006.

                                        PANELVIEW, INCORPORATED, an Oregon
                                        corporation

                                        By: /s/ Hamid R. Shokrgozar
                                            -----------------------------
                                        Name: Hamid R. Shokrgozar
                                        Title: President & CEO

                                        INTERFACE DATA SYSTEMS, INC., an Arizona
                                        corporation

                                        By: /s/ Hamid R. Shokrgozar
                                            -----------------------------
                                        Name: Hamid R. Shokrgozar
                                        Title: President & CEO

                                        IDS ACQUISITION CORPORATION, an Arizona
                                        corporation

                                        By: /s/ Hamid R. Shokrgozar
                                            -----------------------------
                                        Name: Hamid R. Shokrgozar
                                        Title: President & CEO

                                                                      GUARANTORS

<PAGE>

      Please acknowledge your receipt and acceptance of the foregoing terms and
conditions by signing and returning a copy of this letter. In addition, please
obtain the consent and agreement of the Guarantors by having them sign the copy
of this letter to be returned by you.

                                   Sincerely,

                                   JPMORGAN CHASE BANK, N.A., (successor by
                                   merger to BANK ONE, NA, (Main Office Chicago)

                                   By: /s/ Mark Chambers
                                       --------------------------------
                                   Name: Mark Chambers
                                   Title: Senior Vice President

Consented and agreed to
this 27 day of March, 2006.

WHITE ELECTRONIC DESIGNS
CORPORATION, an Indiana corporation

By: /s/ Hamid R. Shokrgozar
    -----------------------------
Name: Hamid R. Shokrgozar
Title: President & CEO

                                       -2-Unassociated Document

    Exhibit
      10.1

     

    EXECUTION
      COPY

     

    AMENDMENT
      NO. 2 TO CREDIT AGREEMENT

     

    AMENDMENT
      NO. 2, dated as of May 5, 2006, to the Credit Agreement (as defined below),
      between XL CAPITAL LTD, a Cayman Islands exempted limited company, X.L. AMERICA,
      INC., a Delaware corporation, XL INSURANCE (BERMUDA) LTD, a Bermuda limited
      liability company, and XL RE LTD, a Bermuda limited liability company, each
      of
      the Lenders party to the Credit Agreement and JPMORGAN CHASE BANK, N.A. as
      administrative agent for the Lenders (in such capacity, together with its
      successors in such capacity, the “Administrative
      Agent”).

     

    The
      Obligors, the Lenders and the Administrative Agent are parties to a Three-Year
      Credit Agreement dated as of June 23, 2004 (as amended by Amendment No. 1 dated
      as of June 22, 2005, the “Credit
      Agreement”),
      providing, subject to the terms and conditions thereof, for extensions of credit
      to be made by or on behalf of said Lenders to the Account Parties in an
      aggregate principal or face amount not exceeding $2,000,000,000. The Obligors,
      the Lenders and the Administrative Agent wish to amend the Credit Agreement
      in
      certain respects and, accordingly, the parties hereto hereby agree as
      follows:

     

    Section
      1.
      Definitions.
      Except
      as otherwise defined in this Amendment No. 2, terms defined in the Credit
      Agreement are used herein as defined therein.

     

    Section
      2.
      Amendments.
      Effective as of the date hereof as provided in Section 5 of this Amendment
      No. 2, the Credit Agreement is hereby amended as follows:

     

    2.01.
      References in the Credit Agreement to “this Agreement” (and indirect references
      such as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be
      references to the Credit Agreement as amended hereby.

     

    2.02.
      Section 1.01 of the Credit Agreement is hereby amended by inserting the
      following definitions (or, in the case of any of the following defined terms
      that are already defined in the Credit Agreement, by amending and restating
      in
      its entirety each such term to read as set forth below) in their proper
      respective alphabetical locations:

     

    “SCA”
means
      Security Capital Assurance Ltd, a Bermuda limited liability
      company.

     

    “SCA
      IPO”
means
      the issuance or sale of common shares of SCA to the public pursuant to an
      effective registration statement filed under the Securities Act of 1933, as
      amended, in connection with an underwritten offering.

     

    “Significant
      Subsidiary”
means,
      at any time, each Subsidiary of XL Capital that, as of such time, meets the
      definition of a “significant subsidiary” under Regulation S-X of the SEC;
provided,
      however,
      that
      for purposes of this Agreement, from and after the consummation of the SCA
      IPO,
      neither SCA nor any of its Subsidiaries shall be a “Significant Subsidiary” of
      XL Capital.

     

    
      
         

      

      
         

        
          

        

      

      
        -2-

      

    

    

     

    “Subsidiary”
means,
      with respect to any Person (the “parent”),
      at
      any date, any corporation (or similar entity) of which a majority of the shares
      of outstanding capital stock normally entitled to vote for the election of
      directors (regardless of any contingency which does or may suspend or dilute
      the
      voting rights of such capital stock) is at such time owned directly or
      indirectly by the parent or one or more subsidiaries of the parent;
      provided,
      however,
      that
      for purposes of this Agreement, from and after the consummation of the SCA
      IPO,
      neither SCA nor any of its Subsidiaries shall be a “Subsidiary” of any Account
      Party.
      Unless
      otherwise specified, “Subsidiary” means a Subsidiary of an Account
      Party.

     

    “XL
      Capital Group”
means
      XL Capital Group as determined from time to time by A.M. Best & Co. (or its
      successor).

     

    2.03.
      Section 6.09 of the Credit Agreement is hereby amended by inserting a new
      sentence at the end thereof to read as follows:

     

    “Notwithstanding
      anything in this Section to the contrary, from and after the SCA IPO, no Account
      Party will issue any Letter of Credit, or renew or permit to renew any Letter
      of
      Credit existing as of the SCA IPO, or use the proceeds of any Loan, to support
      the obligations of, or otherwise primarily for the general corporate purposes
      of, SCA and its Subsidiaries”.

     

    2.04.
      Section 7.08 of the Credit Agreement is hereby amended by inserting the
      word “Group” immediately after the reference in the first line thereof to “XL
      Capital”.

     

    2.05.
      Section 10.04(c) of the Credit Agreement is hereby amended by inserting a new
      clause (iii) at the end thereof to read as follows:

    

    “(iii) In
      the
      event that any Lender sells participations in a Loan or Commitment, such Lender,
      acting solely for this purpose as a non-fiduciary agent of the Borrower, shall
      maintain a register on which it enters the name of all participants in the
      Loans
      and Commitments held by it (the “Participant
      Register”).
      The
      entries in the Participant Register shall be conclusive in the absence of
      manifest error, and the participating Lender shall treat each Person whose
      name
      is recorded in the Participant Register as the Participant for all purposes
      of
      this Agreement and the other Loan Documents, notwithstanding any notice to
      the
      contrary.”

     

    Section
      3.
      Waiver.
      Effective as of the date hereof as provided in Section 5 of this Amendment
      No. 2, the Lenders hereby agree that, notwithstanding anything in
      Section 7.02 of the Credit Agreement to the contrary, the issuance or sale
      of shares of SCA pursuant to the SCA IPO shall be permitted and shall not reduce
      the basket under Section 7.02(b) of the Credit Agreement available to the
      Account Parties and their respective Subsidiaries for the calendar year ending
      December 31, 2006.

     

    Section
      4.
      Representations
      and Warranties.
      Each
      Account Party hereby represents and warrants to the Administrative Agent and
      the
      Lenders that (i) the representations 

     

    
      
         

      

      
         

        
          

        

      

      
        -3-

      

    

    and
      warranties of such Account Party set forth in Article IV of the Credit
      Agreement are, on the date hereof, true and complete as if made on the date
      hereof (and after giving effect to this Amendment No. 2) and as if each
      reference in said Article IV to “this Agreement” includes reference to this
      Amendment No. 2 and (ii) both immediately before and after giving effect to
      the amendments under Section 2 hereof, no Default has occurred and is
      continuing.

     

    Section
      5.
      Conditions
      Precedent.
      The
      amendments to the Credit Agreement set forth in Section 2 of this Amendment
      No. 2 and the waiver under Section 3 of this Amendment No. 2 shall become
      effective, as of the date hereof, upon receipt by the Administrative Agent
      of
      one or more counterparts of this Amendment No. 2 duly executed and delivered
      by
      each of the Obligors and the Required Lenders.

     

    Section
      6.
      Miscellaneous.
      Except
      as herein provided, the Credit Agreement shall remain unchanged and in full
      force and effect. This Amendment No. 2 may be executed in any number of
      counterparts, all of which taken together shall constitute one and the same
      agreement and any of the parties hereto may execute this Amendment No. 2 by
      signing any such counterpart. This Amendment No. 2 shall be governed by,
      and construed in accordance with, the laws of the State of New
      York.

     

    
      
         

      

      
         

        
          

        

      

      
        -4-

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be
      duly
      executed and delivered as of the day and year first above written.

     

    XL
      CAPITAL LTD,

     

    as
      an
      Account Party and a Guarantor

     

    By:     
         /s/
      Paul
      Dowden        

    Name: 
      Paul
      Dowden

    Title: Senior
      Vice President and Chief Risk

                         
      Officer

     

    X.L.
      AMERICA, INC.,

    as
      an
      Account Party and a Guarantor

     

    By_____/s/
      Gabriel G. Carino____________

    Name:
      Gabriel G. Carino

    Title:
      Vice President

    

    XL
      INSURANCE (BERMUDA) LTD,

    as
      an
      Account Party and a Guarantor

     

    By:      /s/
      Christopher A. Coelho        

    Name: 
      Christopher A. Coelho

    Title:  
      Senior
      Vice President and Chief

                           
      Financial
      Officer 

     

    XL
      RE
      LTD,

    as
      an
      Account Party and a Guarantor

     

    By:          /s/
      Andrew
      Turnbull        

    Name: Andrew
      Turnbull

    Title: Senior
      Vice President

    
      
         

      

      
         

        
          

        

      

      
        -5-

      

    

    LENDERS

     

    JPMORGAN
      CHASE BANK, N.A.,

    
      	 	 	
              individually
                and as Administrative Agent

            

    

    

    

    By: /s/
      Helen L. Newcomb   

    Name:
      Helen L. Newcomb

    Title:
      Managing Director

    

    

    CITIBANK,
      N.A.

    

    

    By: /s/
      Michael A. Taylor   

    Name:
      Michael A. Taylor

    Title:
      Managing Director

    

    

    BARCLAYS
      BANK PLC

    

    

    By: /s/
      Des Potter   

    Name:
      Des
      Potter

    Title:
      Director

    

    

    DEUTSCHE
      BANK AG NEW YORK BRANCH

    

    

    By: /s/
      Ruth Leung    

    Name:
      Ruth Leung

    Title:
      Director

    

    

    By: /s/
      Richard Herder   

    Name:
      Richard Herder

    Title:
      Managing Director

    

    
      
         

      

      
         

        
          

        

      

      
        -6-

      

    

    

    

    KEYBANK
      NATIONAL ASSOCIATION

    

    

    By: /s/
      Mary K. Young   

    Name:
      Mary K. Young

    Title:
      Senior Vice President

    

    

    WACHOVIA
      BANK, NATIONAL ASSOCIATION

    

    

    By: /s/
      Joan Anderson   

    Name:
      Joan Anderson

    Title:
      Director

    

    HSBC
      BANK
      USA

    

    By: /s/
      Daniel G. Serrao   

    Name:
      Daniel G. Serrao

    Title:
      Senior Vice President

    

    

    MERRILL
      LYNCH BANK USA

    

    

    By: /s/
      Frank Stepan   

    Name:
      Frank Stepan

    Title:
      Vice President

    

    

    THE
      BANK
      OF TOKYO-MITSUBISHI, LTD.

    NEW
      YORK
      BRANCH

    

    

    By: /s/
      Chimie T. Pemba   

    Name:
      Chimie T. Pemba

    Title:
      Authorized Signatory

    

    

    BANK
      OF
      AMERICA, N.A.

    

    

    By: /s/
      Debra Basler   

    Name:
      Debra Basler

    Title:
      Senior Vice President

    

    
      
         

      

      
         

        
          

        

      

      
        -7-

      

    

    

    BNP
      PARIBAS

    

    

    By: /s/
      Marguerite L. Lebon  

    Name:
      Marguerite L. Lebon

    Title:
      Vice President

    

    

    By: /s/
      Laurent Vanderzyppe  

    Name:
      Laurent Vanderzyppe

    Title:
      Managing Director

    

    

    CREDIT
      SUISSE NEW YORK BRANCH (f/k/a 
Credit Suisse First Boston New York
      Branch)

    

    

    By: /s/
      Jay Chall    

    Name:
      Jay
      Chall

    Title:
      Director

    

    

    By: /s/
      James Neira   

    Name:
      James Neira

    Title:
      Associate

    

    

    ING
      BANK
      N.V., LONDON BRANCH

    

    

    By: /s/
      M
      E R Sharman   

    Name:
      M E
      R Sharman

    Title:
      Managing Director

    

    

    By: /s/
      N
      J Marchant   

    Name:
      N J
      Marchant

    Title:
      Director

    

    

    LLOYDS
      TSB BANK PLC, NEW YORK BRANCH

    

    

    By: /s/
      Jason Eperon  

    Name:
      Jason Eperon

    Title:
      Assistant Vice President

    
      
         

      

      
         

        
          

        

      

      
        -8-

      

    

    

    By: /s/
      Candi Obrentz  

    Name:
      Candi Obrentz

    Title:
      Assistant Vice President

    

    

    THE
      ROYAL
      BANK OF SCOTLAND PLC

    

    By: /s/
      David Howes  

    Name:
      David Howes

    Title:
      Vice President

    

    

    THE
      BANK
      OF NEW YORK

    

    By: /s/
      Lizanne T. Eberle  

    Name:
      Lizanne T. Eberle

    Title:
      Vice President

    

    

    COMERICA
      BANK

    

    By: /s/
      Chatphet Saipetch  

    Name:
      Chatphet Saipetch

    Title:
      Vice President

    

    

    

    THE
      BANK
      OF NOVA SCOTIA

    

    By: /s/
      Todd S. Meller  

    Name:
      Todd S. Meller

    Title:
      Managing Director

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