Document:

Amendment No. 7 to Credit Agreement

 EXHIBIT 10.2 
 EXECUTION COPY 
 AMENDMENT NO. 7 
 Dated as of May 9, 2008 
 to 
 CREDIT AGREEMENT 
 Dated as of June 7,
2005 
 THIS AMENDMENT NO. 7 (“Amendment”) is made as of May 9, 2008 by and among Encore Capital Group, Inc. (the
“Borrower”), the financial institutions listed on the signature pages hereof (the “Lenders”) and JPMorgan Chase Bank, National Association, as Administrative Agent (the “Agent”), under that certain
Credit Agreement dated as of June 7, 2005 by and among the Borrower, the Lenders and the Agent (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. 
 WHEREAS, the Borrower has requested
that the Lenders and the Agent agree to certain amendments to the Credit Agreement; 
 WHEREAS, the Lenders party hereto and the Agent have
agreed to such amendments on the terms and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the premises set forth above,
the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Lenders party hereto and the Agent have agreed to enter into this Amendment.

 1. Amendments to Credit Agreement. Effective as of the date of satisfaction of the conditions precedent set forth in Section 2
below, the Credit Agreement is amended as follows: 
 (a) Clause (v) of Section 6.10 of the Credit Agreement is amended and
restated in its entirety to read as follows: 
 “(v) the Borrower may, so long as the Payment Conditions are satisfied, make repurchases
of its capital stock and redeem or purchase its “Unsecured Notes” (as defined in that certain Amendment No. 1 and Consent dated as of August 1, 2005 by and among the Borrower, the Lenders party thereto and the Administrative
Agent) so long as the aggregate cumulative amount expended for all such repurchases of capital stock and redemptions and purchases of such Unsecured Notes does not exceed $50,000,000. As used herein, “Payment Conditions” means (i) no
Default or Unmatured Default has then occurred and is continuing or would arise after giving effect thereto and (ii) before and after giving effect (including pro forma effect) thereto, (A) the Borrower is in compliance with the covenants
set forth in Sections 6.21 and 6.22 and (B) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the Adjusted Available Aggregate Revolving Loan Commitment. 

 2. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the conditions
precedent that (a) the Agent shall have received (i) counterparts of this Amendment duly executed by the Borrower, the Required Lenders and the Agent and the Consent and Reaffirmation attached hereto duly executed by the Guarantors and
(ii) such other instruments and documents as are reasonably requested by the Agent and (b) the Borrower shall have paid, to the extent invoiced, all expenses of the Agent (including attorneys’ fees and expenses) in connection with
this Amendment and the other Loan Documents. 
 3. Representations and Warranties of the Borrower. The Borrower hereby represents and
warrants as follows: 
 (a) This Amendment and the Credit Agreement as amended hereby constitute legal, valid and binding obligations of the
Borrower and are enforceable against the Borrower in accordance with their terms. 
 (b) As of the date hereof and giving effect to the terms
of this Amendment, (i) there exists no Default or Unmatured Default and (ii) the representations and warranties contained in Article V of the Credit Agreement, as amended hereby, are true and correct, except for representations and
warranties made with reference solely to an earlier date. 
 4. Reference to and Effect on the Credit Agreement. 
 (a) Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be a
reference to the Credit Agreement as amended hereby. 
 (b) Except as specifically amended above, the Credit Agreement and all other
documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement
or any other documents, instruments and agreements executed and/or delivered in connection therewith. 
 5. Governing Law. This
Amendment shall be governed by and construed in accordance with the internal laws of the State of New York, but giving effect to federal laws applicable to national banks. 
 6. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this
Amendment for any other purpose. 
  

 2 

 7. Counterparts. This Amendment may be executed by one or more of the parties hereto on any number
of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
 [Signature
Pages Follow] 
  

 3 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

  

			
	ENCORE CAPITAL GROUP, INC.,as the Borrower
		
	By:	 	/s/ J. Brandon Black
	Name:	 	J. Brandon Black
	Title:	 	President & CEO

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	JPMORGAN CHASE BANK,
	NATIONAL ASSOCIATION,
as Administrative Agent, as LC Issuer and as a Lender
		
	By:	 	/s/ Anna C. Ruiz
	Name:	 	Anna C. Ruiz
	Title:	 	Vice President

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	BANK OF SCOTLAND plc, as a Lender
		
	By:	 	/s/ Karen Weich
	Name:	 	Karen Weich
	Title:	 	Vice President

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	/s/ Gordon W. Wiens
	Name:	 	Gordon W. Wiens
	Title:	 	Senior Vice President

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	CALIFORNIA BANK & TRUST, as a Lender
		
	By:	 	/s/ Michael Powell
	Name:	 	Michael Powell
	Title:	 	Senior Vice President

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	GUARANTY BANK, as a Lender
		
	By:	 	 
	Name:	 	
	Title:	 	

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	FIRST BANK, as a Lender
		
	By:	 	/s/ Gilmore Hector
	Name:	 	Gilmore Hector
	Title:	 	Vice President

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	CITIBANK, N.A., as a Lender
		
	By:	 	 
	Name:	 	
	Title:	 	

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	BANK LEUMI USA, as a Lender
		
	By:	 	/s/ Jacques Delvoye
	Name:	 	Jacques Delvoye
	Title:	 	First Vice President

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

			
	MANUFACTURERS BANK, as a Lender
		
	By:	 	/s/ Maureen Kelly
	Name:	 	
	Title:	 	Vice President

 Signature Page to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005 

 CONSENT AND REAFFIRMATION 
 Each of the undersigned hereby acknowledges receipt of a copy of the foregoing Amendment No. 7 to the Credit Agreement dated as of June 7, 2005 (as the same may be amended, restated, supplemented or
otherwise modified from time to time, the “Credit Agreement”) by and among Encore Capital Group, Inc. (the “Borrower”), the financial institutions from time to time party thereto (the “Lenders”) and
JPMorgan Chase Bank, National Association, in its individual capacity as a Lender and in its capacity as contractual representative (the “Agent”), which Amendment No. 7 is dated as of May 9, 2008 (the
“Amendment”). Capitalized terms used in this Consent and Reaffirmation and not defined herein shall have the meanings given to them in the Credit Agreement. Without in any way establishing a course of dealing by the Agent or any
Lender, each of the undersigned consents to the Amendment and reaffirms the terms and conditions of the Guaranty Agreement, the Pledge and Security Agreement and any other Loan Document executed by it and acknowledges and agrees that such agreement
and each and every such Loan Document executed by the undersigned in connection with the Credit Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed. All references to the Credit Agreement contained in the
above-referenced documents shall be a reference to the Credit Agreement as so modified by the Amendment and as the same may from time to time hereafter be amended, modified or restated. 
 Dated: May 9, 2008 
 [Signature Page Follows] 

									
	MIDLAND CREDIT MANAGEMENT, INC. ,
as a Guarantor	 		 	MIDLAND FUNDING NCC-2 CORPORATION,
as a Guarantor
					
	By:	 	/s/ J. Brandon Black	 		 	By:	 	/s/ J. Brandon Black
	Name:	 	J. Brandon Black	 		 	Name:	 	J. Brandon Black
	Title:	 	President & CEO	 		 	Title:	 	President
			
	ASCENSION CAPITAL GROUP, INC., as a Guarantor	 		 	MIDLAND PORTFOLIO SERVICES, INC., as a Guarantor
					
	By:	 	/s/ J. Brandon Black	 		 	By:	 	/s/ J. Brandon Black
	Name:	 	J. Brandon Black	 		 	Name:	 	J. Brandon Black
	Title:	 	Vice President	 		 	Title:	 	President
			
	MIDLAND INTERNATIONAL LLC, as a Guarantor	 		 	MIDLAND FUNDING LLC, as a Guarantor
					
	By:	 	MIDLAND CREDIT MANAGEMENT, INC., its Sole	 		 	By:	 	/s/ J. Brandon Black
		 	Member	 		 	Name:	 	J. Brandon Black
		 		 		 	Title:	 	/President
	By:	 	/s/ J. Brandon Black	 		 		 	
	Name:	 	J. Brandon Black	 		 		 	
	Title:	 	President & CEO	 		 		 	
			
	MRC RECEIVABLES CORPORATION, as a Guarantor	 		 	
					
	By:	 	/s/ J. Brandon Black	 		 		 	
	Name:	 	J. Brandon Black	 		 		 	
	Title:	 	President	 		 		 	

 Signature Page to Consent and Reaffirmation to Amendment No. 7 
 Encore Capital Group, Inc. 
 Credit Agreement
dated as of June 7, 2005Form of Convertible Note dated June 30, 2008

 Exhibit 10.81 
 CONVERTIBLE NOTE 
 June 30, 2008 
  

			
	Plymouth Meeting, PA, USA	 	$2,132,865

 FOR VALUE RECEIVED, the undersigned, LITHIUM TECHNOLOGY CORPORATION, a corporation
organized and existing under the laws of the State of Delaware (the “Borrower”), promises to pay FIDESSA ASSET MANAGEMENT S.A. (the “Holder”) 16, rue Jean-Pierre Brasseur, L-1258 Luxembourg or other address
as the Holder shall specify in writing, the principal sum of two million one hundred thirty two thousand eight hundred sixty five (U.S.) Dollars ($2,132,865) (1,350,000 euros) and will be payable pursuant to the following terms: 

INTEREST RATE: The principal amount of this Promissory Note (the “Note”) shall accrue interest at an annual rate of 10%. 
 PAYMENT TERMS. The Borrower shall pay all amounts due hereunder (including principal and accrued interest) on June 29, 2011 (the “Maturity
Date”). 
 PLACE FOR PAYMENT. Borrower promises to pay to the order of Holder at the place for payment and according to the terms for
payment the principal amount plus interest at the rates stated above. All unpaid amounts shall be due by the final scheduled payment date. 
 OPTIONAL
CONVERSION BY THE HOLDER. The Holder is entitled, at his option, to convert, at any time and from time to time, until the Maturity Date, all the principal amount of the Note, plus accrued interest, into shares (the “Conversion
Shares”) of the Company’s common stock, par value $.001 per share (“Common Stock”), at the price per share (the “Conversion Price”) equal to ten cents($0.10) per share (the “Fixed
Price”). To convert this Note, the Holder hereof shall deliver written notice thereof, substantially in the form of Exhibit “A” to this Note, with appropriate insertions (the “Conversion Notice”), to the Company
at its address as set forth herein. The date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be the date set forth in the Conversion Notice. 
 DEFAULT AND ACCELERATION CLAUSE. If Borrower defaults in the payment of this Note or in the performance of any obligation, and the default continues after
Holder gives Borrower notice of the default and the time within which it must be cured, as may be required by law or written agreement, then Holder may declare the unpaid principal balance and earned interest on this Note immediately
due. Borrower and each surety, endorser, and guarantor waive all demands for payment, presentation for payment, notices of intentions to accelerate maturity, notices of acceleration of maturity, protests, and notices of protest, to the extent
permitted by law. 

 INTEREST ON PAST DUE INSTALLMENTS AND CHARGES. All
past due installments of principal and/or interest and/or all other past-due incurred charges shall bear interest after maturity at the maximum amount of interest permitted by the Laws of the State of Delaware until paid. Failure by Borrower to
remit any payment by the 15th day following the date that such payment is due entitles the Holder hereof to declare the entire principal and accrued
interest immediately due and payable. Holder’s forbearance in enforcing a right or remedy as set forth herein shall not be deemed a waiver of said right or remedy for a subsequent cause, breach or default of the Borrower’s obligations
herein. 
 INTEREST. Interest on this Note shall accrue and paid on Maturity or upon conversion of the Note into Common Stock. Interest on this
debt evidenced by this Note shall not exceed the maximum amount of non-usurious interest that may be contracted for, taken, reserved, charged, or received under law; any interest in excess of the maximum shall be credited on the principal of the
debt or, if that has been paid, refunded. On any acceleration or required or permitted prepayment, any such excess shall be canceled automatically as of the acceleration or prepayment or, if already paid, credited on the principal of the debt
or, if the principal of the debt has been paid, refunded. This provision overrides other provisions in this instrument (and any other instruments) concerning this debt. 
 SECURED NATURE OF THE NOTE. This Debenture is secured by fifty million (50,000,000) common shares of the Borrower. 
 FORM OF PAYMENT. Any check, draft, Money Order, or other instrument given in payment of all or any portion hereof may be accepted by the Holder and handled in collection in the customary manner, but the same shall not constitute
payment hereunder or diminish any rights of the holder hereof except to the extent that actual cash proceeds of such instruments are unconditionally received by the Holder and applied to this indebtedness in the manner elsewhere herein provided.

 ATTORNEY’S FEES. If this Note is given to an attorney for collection or enforcement, or if suit is brought for collection or enforcement,
or if it is collected or enforced through probate, bankruptcy, or other judicial proceeding, then Borrower shall pay Holder all costs of collection and enforcement, including reasonable attorney’s fees and court costs in addition to other
amounts due. 
 SEVERABILITY. If any provision of this Note or the application thereof shall, for any reason and to any extent, be invalid or
unenforceable, neither the remainder of this Note nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. 
 BINDING EFFECT. The covenants, obligations and conditions herein contained shall be binding on and inure to the benefit of the heirs, legal representatives,
and assigns of the parties hereto. 

 DESCRIPTIVE HEADINGS. The descriptive headings used herein are for convenience of reference only and they are
not intended to have any effect whatsoever in determining the rights or obligations under this Note. 
 CONSTRUCTION. The pronouns used herein
shall include, where appropriate, either gender or both, singular and plural. 
 GOVERNING LAW. This Note shall be governed, construed and
interpreted by, through and under the Laws of the State of Delaware.
 Borrower is responsible for all obligations represented by this Note. 
 EXECUTED 30th
day of June, 2008. 
  

			
	LITHIUM TECHNOLOGY CORPORATION
	
	  

	By:	 	Amir Elbaz
	Its:	 	Executive Vice President & Chief Financial Officer
	
	Agreed:
	
	FIDESSA ASSET MANAGEMENT S.A.
	
	  

	By:	 	
	Its:	 	

 EXHIBIT “A” 
 NOTICE OF CONVERSION 
 (To be executed by the Holder in order to
Convert the Note) 
 TO: 
 The
undersigned hereby irrevocably elects to convert $             of the principal amount and accrued interest of the above Note into Shares of Common Stock of Lithium Technology
Corporation, according to the conditions stated therein, as of the Conversion Date written below. 
  

							
			
	Conversion Date:	  	  
	  	
			
	Applicable Conversion Price:	  	  
	  	
			
	Signature:	  	  
	  	
			
	Name:	  	  
	  	
			
	Address:	  	  
	  	
				
	Amount to be converted:	  	$	 	  
	  	
				
	Amount of Note unconverted:	  	$	 	  
	  	
				
	Conversion Price per share:	  	$	 	  
	  	
			
	Number of shares of Common Stock to be issued:	  	  
	  	
			
	Please issue the shares of Common Stock in the following name and to the following address:	  	  
	  	
			
	Issue to:	  	  
	  	
			
	Authorized Signature:	  	  
	  	
			
	Name:	  	  
	  	
			
	Title:	  	  
	  	
			
	Phone Number:	  	  
	  	
			
	Broker DTC Participant Code:	  	  
	  	
			
	Account Number:

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