Document:

Exhibit 10.1

 

AMENDMENT TO CONSENT

 

January
6, 2002

 

Ms. Stacey Peterson

Chief Financial Officer

TTM Technologies, Inc.

17550 NE 67th Court

Redmond, WA 98052

 

Re:                               Amended
and Restated Credit Agreement dated as of September 29, 2000, as amended (the
“Credit Agreement”) among TTM Technologies, Inc. (formerly known as Pacific
Circuits, Inc.) (the “Borrower”) and the Domestic Subsidiaries of the Borrower
(the “Guarantors”), the several banks and other financial institutions party
thereto (the “Lenders”) and Wachovia Bank, National Association (formerly known
as First Union National Bank), as administrative agent for the Lenders (the
“Administrative Agent”)

 

Ladies and Gentlemen:

 

Reference is hereby made to the
above-referenced Credit Agreement. 
Reference is further made to that certain Consent dated December 17,
2002 (the “Consent”) by certain of the Lenders and the Administrative
Agent.  Capitalized terms used herein
without definition shall have the meanings ascribed to such terms in the Credit
Agreement or, if not defined therein, in the Consent.

 

You have requested that for purposes of
calculating the financial covenants the income statement items and capital
expenditures attributable to the Target Company not be included to the extent
relating to any period prior to January 1, 2003.

 

The undersigned Lenders hereby consent
and agree that the Section titled “Covenants” in Exhibit A to the
Consent is deleted in its entirety and replaced with the following:

 

Covenants:                                                                                   The
covenants will remain the same;  provided,
however, for purposes 

of calculating the financial covenants, income statement items (whether

positive or negative) and capital expenditures attributable to the Target

Company shall not be included to the extent relating to any period prior

to January 1, 2003.

 

Except
to the extent specifically provided to the contrary in this Amendment to
Consent, all terms and conditions of the Credit Agreement and the Consent shall
remain in full force and effect, without modification or limitation.  This Amendment to Consent shall not operate
as a

 

 

consent
to any other action or inaction by the Parent, the Borrower or any of its
Subsidiaries, or as a waiver or amendment of any right, power, or remedy of any
Lender or the Administrative Agent under the Credit Agreement or the Consent
nor constitute a consent to any such action or inaction, or a waiver or
amendment of any provision contained in the Credit Agreement or the Consent
except as specifically provided herein. 
This Amendment to Consent may be executed in two or more counterparts,
each of which shall be deemed an original, and all of which taken together
shall be deemed to constitute one and the same instrument.

 

Please
indicate your acknowledgment, acceptance and agreement or consent, as the case
may be, to the foregoing Amendment to Consent by signing in the space provided
below and returning an executed counterpart to the Administrative Agent by NO LATER THAN 11:59 P.M. MONDAY, JANUARY 6, 2003.

 

[The
remainder of this page is intentionally left blank.]

 

2

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  WACHOVIA
  BANK, NATIONAL ASSOCIATION

  
	
   

  	
  individually in its
  capacity as a Lender

  and in its capacity as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
    /s/ David K. Hall

  	
   

  
	
   

  	
  Name:  

  	
  David K. Hall

  	
   

  
	
   

  	
  Title:  

  	
  Vice President

  	
   

  
						

 

 

 

AMENDMENT TO CONSENT

 

 

	
   

  	
  GENERAL ELECTRIC CAPITAL 

  CORPORATION,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
   

  	
   

  
	
   

  	
   

  	
   Title: 
  

  	
   

  

 

 

	
   

  	
  SUNTRUST BANK,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/ Lee McCrary

  	
   

  
	
   

  	
   

  	
  Title:   VICE
  PRESIDENT

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:
  

  	
   

  	
   

  
	
   

  	
   

  	
  Title: 

  	
   

  

 

 

	
   

  	
  FLEET NATIONAL BANK

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ Greg Roux

  	
   

  
	
   

  	
  By:
  

  	
  Greg Roux

  	
   

  
	
   

  	
   

  	
  Title:   
  Director

  	
   

  

 

 

	
  Acknowledged, Accepted and Agreed
  to:

  	
   

  
	
   

  	
   

  
	
  TTM TECHNOLOGIES, INC.

  	
   

  
	
  (formerly
  known as Pacific Circuits, Inc.),

  	
   

  
	
  a
  Washington corporation, as Borrower

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Stacey Peterson

  	
   

  
	
  Name:

  	
  STACEY PETERSON

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Consented to by:

  	
   

  
	
   

  	
   

  
	
  POWER CIRCUITS, INC.,

  	
   

  
	
  a California
  corporation

  	
   

  
	
   

  	
   

  
	
   

  
	
  By:

  	
  /s/ Stacey Peterson

  	
   

  
	
  Name:

  	
  STACEY PETERSON

  	
   

  
	
  Title:

  	
  CFOExhibit 10.2

 

CONSENT AND WAIVER

 

March 27, 2003

 

Ms. Stacey Peterson

Chief Financial Officer

TTM Technologies, Inc.

17550 NE 67th Court

Redmond, WA 98052

 

Re:                             Amended and Restated Credit Agreement dated
as of September 29, 2000, as amended (the “Credit Agreement”) among TTM
Technologies, Inc. (formerly known as Pacific Circuits, Inc.) (the “Borrower”)
and the Domestic Subsidiaries of the Borrower (the “Guarantors”), the several
banks and other financial institutions party thereto (the “Lenders”) and Wachovia
Bank, National Association (formerly known as First Union National Bank), as
administrative agent for the Lenders (the “Administrative Agent”)

 

Ladies and Gentlemen:

 

Reference is hereby made to the above-referenced Credit Agreement among
the Borrower, the Guarantors, the Lenders and the Administrative Agent and that
certain Consent dated December 17, 2002, as amended by that certain Amendment
to Consent dated January 6, 2003 (the “Consent”) among the Borrower, the
Required Lenders (on behalf of the Lenders) and the Administrative Agent.  Capitalized terms used herein without
definition shall have the meanings ascribed to such terms in the Credit
Agreement or, if not defined therein, in the Consent.

 

The above-referenced Consent was conditioned upon the Borrower and the
Required Lenders entering into a satisfactory amendment to the Credit Agreement
on or before February 28, 2003 (the “Amendment Date”) or such additional
time as the Required Lenders shall deem necessary or appropriate.  The Borrower has requested and the
undersigned Required Lenders (on behalf of the Lenders) hereby consent and
agree to extend the deadline by which the Borrower and the Required Lenders
must enter into a satisfactory amendment to the Credit Agreement from February
28, 2003 to April 30, 2003.

 

In addition to the foregoing, the Required Lenders hereby waive,
effective as of the date hereof and subject to the conditions set forth below,
the Event of Defaults, if any, caused by the failure of the Borrower to
promptly cause (i) Honeywell Advanced Circuits, Inc. (to be renamed by the
Borrower) (“ACI”) to become a Guarantor of the Obligations under the
Credit Agreement, as required by Section 5.10 of the Credit Agreement (the “ACI
Joinder Default”), (ii) ACI to secure such Guaranty by granting to the
Administrative Agent a first priority, perfected Lien in all of the personal
property of ACI (the “ACI Personal Property”) and all of the real
property assets of ACI (including, without limitation, the real property assets
owned by ACI listed on Schedule A attached hereto) (the “ACI Real
Property”), as required by Section 5.10 of

 

 

the
Credit Agreement (individually, the “ACI Personal Property Default” and
the “ACI Real Property Default”), and (iii) TTM Technologies, Inc. to
subject the recently acquired real property asset listed on Schedule A
attached hereto (the “Redmond Real Property”) to a first priority,
perfected Lien in favor of the Administrative Agent as required by Section 5.12
of the Credit Agreement (the “Redmond Real Property Default”).

 

The
waiver of the ACI Joinder Default, the ACI Personal Property Default, the ACI
Real Property Default and the Redmond Real Property Default constitute one-time
waivers and are granted only for the limited purposes set forth herein and shall
be effective only in the specific circumstances provided for above and only for
the purposes for which given; provided, however, the waiver of
the ACI Joinder Default and the ACI Personal Property Default shall expire on
April 18, 2003 (and an Event of Default with respect to the ACI Joinder Default
and the ACI Personal Property Default shall occur on such date), unless prior
to such date, Administrative Agent shall have received (i) a fully executed
Joinder Agreement (together with such other documentation ancillary thereto as
requested by the Administrative Agent) and (ii) such security documentation as
requested by the Administrative Agent with respect to the ACI Personal Property
necessary to evidence the Administrative Agent’s first priority, perfected Lien
in such ACI Personal Property; and provided, further, however,
the waiver of the ACI Real Property Default and the Redmond Real Property
Default shall expire on May 30, 2003 (and an Event of Default with respect to
the ACI Real Property Default and the Redmond Real Property Default shall occur
on such date), unless prior to such date, Administrative Agent shall have
received notarized mortgages, deeds of trust or deeds to secure debt
encumbering the fee interest in the real property assets listed on Schedule
A attached hereto, together with such other documentation ancillary thereto
as requested by the Administrative Agent.

 

Except
to the extent specifically provided to the contrary in this Consent and Waiver,
all terms and conditions of the Credit Agreement and the Consent shall remain
in full force and effect, without modification or limitation.  This Consent and Waiver shall not operate as
a consent to any other action or inaction by the Borrower or any of its
Subsidiaries, or as a waiver or amendment of any right, power, or remedy of any
Lender or the Administrative Agent under the Credit Agreement or the Consent
nor constitute a consent to any such action or inaction, or a waiver or
amendment of any provision contained in the Credit Agreement or the Consent
except as specifically provided herein. 
This Consent and Waiver may be executed in two or more counterparts,
each of which shall be deemed an original, and all of which taken together
shall be deemed to constitute one and the same instrument.

 

Please
indicate your acknowledgment, acceptance and agreement or consent, as the case
may be, to the foregoing Consent and Waiver by signing in the space provided
below and returning an executed counterpart to the Administrative Agent by NO LATER THAN 5:00 P.M. (EST) THURSDAY, MARCH 27, 2003.

 

[The remainder of this page is intentionally left blank.]

 

2

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  WACHOVIA
  BANK, NATIONAL ASSOCIATION

  
	
   

  	
  individually in its
  capacity as a Lender

  and in its capacity as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David K. Hall

  	
   

  
	
   

  	
  Name:

  	
  David K. Hall

  	
   

  
	
   

  	
  Title:

  	
  Vice President

  	
   

  
						

 

1

 

	
   

  	
  GENERAL ELECTRIC CAPITAL

  CORPORATION,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  

 

2

 

	
   

  	
  SUNTRUST BANK,

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  
					

 

3

 

	
   

  	
  FLEET NATIONAL BANK

  
	
   

  	
  as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin C. Scheipe

  	
   

  
	
   

  	
  Title: 
  Vice President

  	
   

  

 

4

 

	
  Acknowledged, Accepted and Agreed to:

  	
   

  
	
   

  	
   

  
	
  TTM
  TECHNOLOGIES, INC.

  	
   

  
	
  (formerly known as Pacific
  Circuits, Inc.),

  	
   

  
	
  a Washington corporation,
  as Borrower

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Kent Alder

  	
   

  
	
  Name:

  	
  Kent Alder

  	
   

  
	
  Title:

  	
  CEO

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Consented to by:

  	
   

  
	
   

  	
   

  
	
  POWER CIRCUITS, INC.,

  	
   

  
	
  a California
  corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Kent Alder

  	
   

  
	
  Name:

  	
  Kent Alder

  	
   

  
	
  Title:

  	
   

  	
   

  
							

 

5

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