Document:

exv10w1

 

Exhibit 10.1

Sixth Amendment to Revolving Loan Agreement

Between

MMAC Communications Corp. and Keltic Financial Partners, LP

Dated as of October 11, 2002

      This is a Sixth Amendment to the Revolving Loan Agreement, dated as of October 11, 2002, which
is made as of the 15th day of April, 2005, (this “Amendment”), between DELTA COMPUTEC INC.
(formerly known as MMAC Communications Corp.) (“Borrower”), a Delaware corporation, having an
address at 900 Huyler Street, Teterboro, New Jersey 07608, and KELTIC FINANCIAL PARTNERS, LP
(“Lender”), a Delaware limited partnership, with a place of business at 555 Theodore Fremd Avenue,
Suite C-207, Rye, New York 10580.

WITNESSETH

      WHEREAS, Borrower and Lender are engaged in a continuing commercial lending relationship
pursuant to that certain Revolving Loan Agreement, dated as of October 11, 2002 (as previously
amended, modified or otherwise supplemented, the “Loan Agreement”), and other related documents,
whereby Lender agreed to advance certain sums to Borrower and Borrower agreed to repay same under
the terms and conditions therein set forth; and

      WHEREAS, MMAC Communications Corp. changed its name from MMAC Communications Corp. to Delta
Computec Inc., as evidenced by that certain Certificate of Amendment to Certificate of
Incorporation of MMAC Communications Corp. with the Secretary of State of the State of Delaware on
October 15, 2002; and

      WHEREAS, the Borrower has requested that the Lender extend the Termination Date and waive
certain provisions in the Loan Agreement; and

      WHEREAS, the Lender is willing to effect such requests, upon the condition that the Loan
Agreement shall be otherwise amended as provided herein and subject to certain other terms and
conditions herein contained; and

      WHEREAS, the parties wish to memorialize the terms of their agreements by this writing.

      NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein
contained, and for other good and valuable consideration, it is agreed as follows:

1. AMENDMENTS TO ARTICLE 1, DEFINITIONS.

      (a) Section 1 of the Loan Agreement, entitled “Definitions” is hereby amended by deleting
Section 1.51 (“Termination Date”) and replacing same with the following:

 

 

      “Termination Date” shall mean the earlier of July 15, 2005, or the date on which the
Lender terminates this Agreement pursuant to Section 12 hereof.

2. AMENDMENTS TO ARTICLE 3, LENDER’S COMPENSATION.

      (a) Section 3.6 (“Liquidated Damages”) is hereby deleted in its entirety and replaced with the
following:

            3.6 Liquidated Damages. If Borrower prepays all or any portion of the principal of
the Revolving Loan (other than from time to time for working capital or other payments required
hereunder), Borrower shall pay to Lender at the time of such prepayment, liquidated damages in an
amount equal to (a) three percent (3.00%) of the Maximum Facility if the Borrower elects to
terminate the availability of Revolving Loans as hereinafter provided and the prepayment is made
prior to July 15, 2005 or (b) three percent (3.00%) of the amount of any partial prepayment made
prior to July 15, 2005, provided, however, the requirements of Section 3.6(a) shall
be waived if (i) the termination of the availability of the Revolving Loans results from a sale of
substantially all of the assets of Borrower and (ii) Lender, pursuant to a new financing
arrangement, provides financing to the entity that acquires substantially all of the assets of
Borrower. Borrower shall give Lender as much advance written notice (the “Termination Notice”) of
Borrower’s election to terminate the availability of Revolving Loans hereunder prior to the
Termination Date as is practicable. The Termination Notice shall be irrevocable and shall specify
the effective date of such termination, but shall be in no event later than the Termination Date.

3. MISCELLANEOUS.

      (a) The amendments to the Loan Agreement provided for in Sections 1 and 2 of this Amendment
shall become effective on the date of this Amendment.

      (b) Any and all references to the Loan Agreement in any other Loan Document shall be deemed to
refer to the Loan Agreement as amended by this Amendment. This Amendment is deemed incorporated
into each of the other Loan Documents. Any initially capitalized terms used in this Amendment
without definition shall have the meanings assigned to those terms in the Loan Agreement. To the
extent that any term or provision of this Amendment is or may be inconsistent with any term or
provision in any Loan Document, the terms and provisions of this Amendment shall control.

      (c) Borrower hereby certifies that: (a) all of its representations and warranties in the Loan
Agreement, as amended hereby, are, except as may otherwise be stated in this Amendment: (i) true
and correct as of the date of this Amendment, (ii) ratified and confirmed without condition as if
made anew, and (iii) incorporated into this Amendment by reference; (b) after giving effect to this
Amendment, no Default or Event of Default exists; (c) no consent, approval, order or authorization
of, or registration or filing with, any third party is required in connection with the execution,
delivery and carrying out of this Amendment or, if required, has been obtained, (d) no sums are due
and owing to Lender under the Loan Agreement as of the effective date of this Amendment; and (e)
this Amendment has been duly authorized, executed and delivered so that it constitutes the legal,
valid and binding obligation of Borrower, enforceable

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in accordance with its terms. Borrower confirms that the Obligations remain outstanding without
defense, set off, counterclaim, discount or charge of any kind as of the date of this Amendment.

      (d) Borrower hereby confirms that all Collateral for the Obligations and all liens, security
interests, mortgages, and pledges granted by Borrower or third parties (if applicable) pursuant to
the Loan Documents, shall continue unimpaired and in full force and effect, and shall cover and
secure all of Borrower’s existing and future Obligations to Lender, as modified by this Amendment.

      (e) This Amendment may be signed in any number of counterpart copies and by the parties to
this Amendment on separate counterparts, but all such copies shall constitute one and the same
instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile
transmission shall be effective as delivery of a manually executed counterpart. Any party so
executing this Amendment by facsimile transmission shall promptly deliver a manually executed
counterpart, provided that any failure to do so shall not affect the validity of the counterpart
executed by facsimile transmission.

      (f) This Amendment will be binding upon and inure to the benefit of Borrower and Lender and
their respective successors and assigns.

      (g) This Amendment has been delivered to and accepted by Lender and will be deemed to be made
in the State of New York. This Amendment will be interpreted and the rights and liabilities of the
parties hereto determined in accordance with the laws of the State of New York, excluding its
conflict of laws rules.

      (h) Borrower hereby acknowledges its continuing obligation to deliver to Lender tax clearance
certificates from all applicable jurisdictions as set forth in the Loan Documents. Borrower shall
use commercially reasonable efforts in order to secure same.

      (i) Except as amended hereby, all of the terms and provisions of the Loan Agreement remain
unchanged, are and shall remain in full force and effect unless and until modified or amended in
writing in accordance with their terms, and are hereby ratified and confirmed. Except as expressly
provided herein, this Amendment shall not constitute an amendment, waiver, consent or release with
respect to any provision of the Loan Agreement or any other Loan Document, a waiver of any Default
or Event of Default, or a waiver or release of any of Lender’s rights and remedies (all of which
are hereby reserved). Borrower expressly ratifies and confirms the waiver of jury trial provisions
contained in the Loan Agreement and the other Loan Documents.

4. CONDITIONS TO EFFECTIVENESS OF THIS AMENDMENT.

      Lender’s willingness to agree to the waiver and the amendments set forth in this Amendment are
subject to the prior satisfaction of the following conditions:

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      (a) Borrower and each guarantor shall execute and deliver this Amendment, incumbency
certificates, authorizing resolutions, all other documents or information required and requested by
Lender, in such form and substance as is satisfactory to Lender.

      (b) Borrower shall furnish to Lender a written status report regarding the escrowed funds and
“no tax due certificates” referenced in that certain Escrow Agreement dated as of October 11, 2002
by and among ViewCast.com, Inc., Delta Computec, Inc. n/k/a NQL Sub-Surving Corporation and The
Bank of New York,

5. FEES AND EXPENSES.

      (a) Borrower shall reimburse Lender for all fees and costs associated with the negotiation,
documenting and closing of this Amendment and all documentation related to this Amendment,
including, without limitation, the reasonable fees and out-of-pocket costs of counsel for Lender.
Lender may charge all such fees and costs by a charge to Borrower’s loan account with Lender.
Borrower hereby consents to such charge.

      (b) Borrower shall pay to Lender a modification fee (the “Modification Fee”) in the amount of
Three Thousand Five Hundred Dollars ($3,500.00). The Modification Fee is deemed earned in full on
the date that this Amendment is executed by Borrower and shall be paid on or before the execution
of this Amendment.

[End of Text; Signature Page Follows]

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      IN WITNESS WHEREOF, the undersigned have set their hands and seals or caused these presents to
be executed by their proper authorized representative as of the day and year first above
written.

	 	 	 	 	 
	 	DELTA COMPUTEC INC.

(formerly known as MMAC

Communications Corp.)

 

 	 
	 	By:  	/s/ John DeVito
 	 
	 	Name: 	John DeVito  	 
	 	Title:  	President	 
	 
	 
	 	KELTIC FINANCIAL PARTNERS, LP

By: KELTIC FINANCIAL SERVICES, LLC,

its General Partner

 

 	 
	 	By:  	/s/ John P. Reilly
 	 
	 	Name: 	John P. Reilly  	 
	 	Title:  	Managing Partner	 
	 

5exv10w1

 

Exhibit 10.1

      AMENDMENT TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT dated as of April 20,
2005 (the “Amendment”) among CMC RECEIVABLES, INC. (the “Seller”), COMMERCIAL METALS COMPANY (the
“Servicer”), THREE RIVERS FUNDING CORPORATION and LIBERTY STREET FUNDING CORP. (collectively, the
“Buyers”), THE BANK OF NOVA SCOTIA and MELLON BANK, N.A. (collectively, the “Managing Agents”) and
MELLON BANK, N.A., as Administrative Agent (the “Administrative Agent”).

W I T N E S S E T H:

      WHEREAS, the Seller, the Servicer, the Buyers, the Managing Agents and the Administrative
Agent are parties to an Amended and Restated Receivables Purchase Agreement dated as of April 22,
2004 (the “RPA”);

      WHEREAS, the parties desire to amend the RPA;

      NOW, THEREFORE, the parties agree as follows:

SECTION 1. DEFINITIONS

      Defined terms used herein and not defined herein shall have the meanings assigned to such
terms in the RPA.

SECTION 2. AMENDMENT OF RPA

      The parties hereto agree that, effective as of April 20, 2005 (the “Effective Date”), the
definition of “Commitment Termination Date” set forth in Section 1.01 of the RPA shall be amended
by replacing the date “April 20, 2005” set forth therein with the date “April 14, 2006”.

SECTION 3. CONDITIONS PRECEDENT

      The occurrence of the Effective Date shall be subject to the conditions precedent that the
each of the Buyers shall have received this Amendment executed by each party hereto in form and
substance satisfactory to it.

SECTION 4. GOVERNING LAW

      THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO ITS CONFLICTS OF LAWS RULES (OTHER THAN SECTION 5-1401 OF NEW YORK’S
GENERAL OBLIGATIONS LAW).

 

 

SECTION 5. EXECUTION IN COUNTERPARTS

      This Amendment may be executed in any number of counterparts and by different parties hereto
in separate counterparts, each of which, when so executed, shall be deemed to be an original and
all of which, when taken together, shall constitute one and the same Amendment. Delivery of an
executed counterpart of a signature page to this Amendment by facsimile shall be effective as
delivery of a manually executed counterpart of this Amendment.

SECTION 6. CONFIRMATION OF AGREEMENT

      Each of the parties to the RPA agree that, except as amended hereby, the RPA continues in full
force and effect. The Seller and the Servicer hereby represent and warrant that, after giving
effect to the effectiveness of this Amendment, their respective representations and warranties
contained in the RPA are true and correct in all material respects upon and as of such
effectiveness with the same force and effect as though made on and as of such date (except to the
extent that such representations and warranties relate solely to an earlier date).

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      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
authorized officers as of the day and year first above written.

	 	 	 	 	 
	 	CMC RECEIVABLES, INC.

 	 
	 	By:  	/s/ Louis Federle
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	COMMERCIAL METALS COMPANY

 	 
	 	By:  	/s/ Louis Federle
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	THREE RIVERS FUNDING CORPORATION

 	 
	 	By:  	/s/ Bernard J. Angelo
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	MELLON BANK, N.A.,

as Managing Agent and Administrative Agent

 	 
	 	By:  	/s/ Jonathan F. Widich
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	LIBERTY STREET FUNDING CORP.

 	 
	 	By:  	/s/ Bernard J. Angelo
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 
	 	THE BANK OF NOVA SCOTIA

 	 
	 	By:  	/s/ Michael Eden
 	 
	 	 	Authorized Signatory 	 
	 	 	 	 
	 

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Acknowledged and Agreed to by:

	 	 	 	 	 
	STRUCTURAL METALS, INC.

 	 	 
	By:  	/s/ Louis Federle
 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 
	 
	SMI STEEL, INC.

 	 	 
	By:  	/s/ Louis Federle
 	 
	 	Authorized Signatory 	 	 
	 	 	 	 
	 
	OWEN ELECTRIC STEEL COMPANY OF SOUTH CAROLINA

d/b/a SMI STEEL SOUTH CAROLINA

 
	By:  	/s/ Louis Federle
 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 
	 
	CMC STEEL FABRICATORS, INC.

d/b/a SMI JOIST COMPANY

 	 	 
	By:  	/s/ Louis Federle
 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 
	 
	HOWELL METAL COMPANY

 	 	 
	By:  	/s/ Louis Federle
 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 
	 

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