Document:

Exhibit 10.53

Execution Copy

FIFTH
AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

THIS FIFTH AMENDMENT TO AMENDED AND RESTATED
CREDIT AGREEMENT (this “Amendment”) is entered into as
of May 30, 2006 and amends in certain respects that Amended and Restated Credit
Agreement, dated as of June 29, 2004, by and among WILLIS LEASE
FINANCE CORPORATION, a Delaware corporation (the “Borrower”),
each of the financial institutions that is, or pursuant to the terms thereof
may become, a party as a Bank thereto (collectively, the “Banks”), NATIONAL CITY BANK, as Administrative Agent for the Banks
(the “Administrative Agent”), and FORTIS BANK (NEDERLAND)
N.V., as Structuring Agent and Security Agent for the Banks, as
amended by that certain First Amendment to Amended and Restated Credit
Agreement, dated as of September 24, 2004, that certain Second Amendment to
Amended and Restated Credit Agreement, dated as of December 9, 2004, that
certain Third Amendment to Amended and Restated Credit Agreement and Waiver,
dated as of November 11, 2005, and that certain Fourth Amendment to Amended and
Restated Credit Agreement, dated as of December 14, 2005 (as so amended, the “Credit
Agreement”).

W I T N E S S E T H:

WHEREAS, the Borrower has
requested an extension of the Revolving Loan Termination Date; and

WHEREAS, the Banks and the
Agents are willing to agree to an extension of the Revolving Loan Termination
Date on and subject to the terms and conditions hereinafter set forth;

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

1.             Defined Terms.  Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings ascribed to them in
the Credit Agreement.

2.             Credit Agreement Amendments.
The Borrower hereby agrees, and, in reliance on the representations and
warranties set forth in Section 3 hereof, the Banks and the Agents
hereby agree, effective as of the date hereof, that the Credit Agreement is hereby
amended as follows:

(a)           Section
2.1(a) is hereby amended to delete the reference therein to “May 31, 2006” and
to substitute in lieu thereof “June 30, 2006.”

3.             Representations and Warranties.  The Borrower represents and warrants as
follows:

(a)           The
making and performance of the Amendment are within its power and authority and
have been duly authorized by all necessary corporate action and do not and
under present law will not require any consent or approval not obtained of any
of its shareholders, or any other Person (including, without limitation, any
Governmental Authority), do not and under present law will not violate any law,
rule, regulation, order, writ, judgment, injunction, decree, determination or
award, do not violate any provision of its charter or by-laws, do not and
will not result in any breach of any material agreement, lease or instrument to
which it is a party, by

 

which it is bound or to which any of its assets are or
may be subject, and do not and will not give rise to any Lien upon any of its
assets except the Lien in favor of the Security Agent contemplated under the
Loan Documents.  This Amendment has been
duly executed and delivered by the Borrower and constitutes the legal, valid
and binding obligation of the Borrower, enforceable against it in accordance
with its terms.

(b)           No
Event of Default or Potential Default has occurred and is continuing, or, after
giving effect to this Amendment, shall exist.

(c)           All
representations and warranties set forth in the Loan Documents are true and
correct as if made on and as of the date hereof, except in each case for
representations and warranties which by their terms are expressly applicable to
an earlier date, in which event such representations and warranties shall be
true and correct as of such earlier date.

4.             Limitation of Amendment.
This Amendment shall be limited precisely as written and shall not be deemed
(a) to be an amendment, waiver or modification of any other term or
condition of the Credit Agreement, any other Loan Document or any of the
instruments or agreements referred to in any such document or a waiver of any
Event of Default or Potential Default under the Credit Agreement, whether or
not known to the Agents or any of the Banks or (b) to prejudice any other
right or rights that the Agents or the Banks may now or in the future have
under or in connection with the Credit Agreement, the Notes, any other Loan
Document or any of the instruments or agreements referred to in any such
document.

5.             Reference to and Effect on Loan
Documents.  On and after the date
hereof, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof”, “herein” or words of like import, and each reference in the other
Loan Documents to the Credit Agreement, shall mean and be a reference to the
Credit Agreement as amended hereby.  This
Amendment shall constitute a Loan Document within the definition thereof in the
Credit Agreement.

6.             Reaffirmation of Security
Interest.  The Borrower hereby
reaffirms as of the date hereof each and every security interest and Lien
granted in favor of the Security Agent and the Banks under the Loan Documents,
and agrees and acknowledges that such security interests and Liens shall
continue from and after the date hereof and shall remain in full force and effect
from and after the date hereof, in each case after giving effect to the Credit
Agreement as amended by this Amendment, and the obligations secured thereby and
thereunder shall include the Borrower’s obligations under the Credit Agreement
as amended by this Amendment.  Each such
reaffirmed security interest and Lien remains and shall continue to remain in
full force and effect and is hereby in all respects ratified and confirmed.

7.             Further Assurances.  Each of the parties hereto hereby agrees, at
the sole cost and expense of the Borrower, to do such further acts and things
and to execute, deliver and acknowledge such additional agreements, powers and
instruments as any party hereto may reasonably require to carry into effect the
purposes of this Amendment.

8.             Costs and Expenses.  The Borrower hereby agrees to pay all costs
and expenses of the Administrative Agent (including attorneys’ fees and
expenses) incurred in connection with the negotiation, preparation, execution
and delivery of this Amendment.

 2
 

 

9.             Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF CALIFORNIA,
WITHOUT REGARD TO CALIFORNIA OR FEDERAL PRINCIPLES OF CONFLICTS OF LAWS.

10.           Severability.  The invalidity, illegality or
unenforceability in any jurisdiction of any provision in or obligation under
this Amendment shall not affect or impair the validity, legality or
enforceability of the remaining provisions or obligations under this Amendment
or of such provision or obligation in any other jurisdiction.  To the extent permitted by applicable law,
the parties hereby waive any provision of law which renders any provision
hereof prohibited or unenforceable in any respect.

11.           Counterparts.  This Amendment may be executed in two or more
counterparts (and by different parties on separate counterparts), each of which
shall be an original, but all of which together shall constitute one and the
same instrument.  Execution and delivery
of this Amendment by facsimile transmission shall constitute execution and
delivery of this Amendment for all purposes, with the same force and effect as
execution and delivery of an originally manually signed copy thereof.  This Amendment shall be effective upon the
receipt by the Administrative Agent of counterparts of this Amendment duly
executed by the Borrower, the Agents and each of the Banks.

12.           Headings; Binding Effect.  The headings of the several sections of this
Amendment are inserted for convenience only and shall not in any way affect the
meaning or construction of any provision of this Amendment.  The provisions of this Amendment shall inure
to the benefit of and be binding upon the parties hereto and their respective
permitted successors and assigns.

13.           Consultation with Advisors.  The
Borrower acknowledges that it has consulted with counsel and with such other
experts and advisors as it has deemed necessary in connection with the
negotiation, execution and delivery of this Amendment.  This Amendment shall be construed without
regard to any presumption or any rule requiring that it be construed against
the party causing this Amendment or any part hereof to be drafted.

14.           Entire Agreement.  This
Amendment sets forth the entire understanding and agreement of the parties
hereto in relation to the subject matter hereof and supersedes any prior
negotiations and agreements among the parties relative to such subject
matter.  None of the terms or conditions
of this Amendment may be changed, modified, waived or canceled, orally or
otherwise, except as provided in the Credit Agreement.

[Remainder of page intentionally
left blank; signatures on following pages]

 

 3

 

IN WITNESS
WHEREOF, the parties
hereto have caused this Amendment to be duly executed as of the date first
above written.

	
  

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  WILLIS LEASE FINANCE CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Robert M. Warwick

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President and

  Chief Financial Officer

  

 

 Signature page 1 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  AGENTS AND BANKS:

  
	
   

  	
   

  
	
   

  	
  NATIONAL CITY BANK, as
  Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Christos Kytzidis

  
	
   

  	
   

  	
  Title:

  	
   Senior Vice President

  

 

 

	
  

  	
   

  
	
   

  	
   

  
	
   

  	
  NATIONAL CITY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Christos Kytzidis

  
	
   

  	
   

  	
  Title:

  	
   Senior Vice President

  

 

 Signature page 2 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  FORTIS BANK (NEDERLAND) N.V.,
  as Structuring Agent and Security Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  M. H. Schipper

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  J. F. G. M. Woflhagen

  
	
   

  	
   

  	
  Title:

  	
   

  

 

 

	
  

  	
  FORTIS BANK (NEDERLAND) N.V.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  M. H. Schipper

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

 Signature page 3 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  CALIFORNIA BANK &
  TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  J. Michael Sullivan

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 Signature page 4 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  WELLS FARGO BANK,
  NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  David M. Barnes

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  

 

 Signature page 5 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  HSH NORDBANK AG, NEW
  YORK BRANCH

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Sylvie Morvan

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 Signature page 6 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  CITY NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Nanci Brusati Dias

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  

 

 Signature page 7 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  LANDESBANKI ISLANDS HF.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Halldor Hafsteinsson

  
	
   

  	
   

  	
  Title:

  	
  Senior Manager Aviation
  Finance

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  S. Elin Sigfusdottir

  
	
   

  	
   

  	
  Title:

  	
  Managing Director
  Corporate Banking

  

 

 Signature page 8 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  IXIS CORPORATE &
  INVESTMENT BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Thomas McGrath

  
	
   

  	
   

  	
  Title:

  	
  Executive Director
  Leveraged & Acquisition Finance

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Andreas Herzog

  
	
   

  	
   

  	
  Title:

  	
  Director Leveraged &
  Acquisition Finance

  

 

 

 Signature page 9 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  KAUPTHING BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Deputy Managing Director Corporate
  Banking

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  

 

 Signature page 10 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit Agreement
 

 

 

	
  

  	
  STATE BANK OF INDIA (LOS
  ANGELES AGENCY)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Sanjiv Chadha

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  STATE BANK OF INDIA
  (CALIFORNIA)

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /S/

  
	
   

  	
   

  	
  Name:

  	
  Sunil K. Kowshal

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Manager

  

 

 Signature page 11 to
 Willis Lease Finance Corporation
 Fifth Amendment to Amended and Restated Credit AgreementExhibit 10.1

FIRST AMENDMENT TO LEASE
AGREEMENT

THIS FIRST AMENDMENT TO LEASE AGREEMENT (“Amendment”) is hereby made and
entered into as of August 7, 2006 by and between KDC-CAROLINA INVESTMENTS 3,
LP, a Delaware limited partnership (“Landlord”),
and 3D SYSTEMS CORPORATION, a Delaware corporation (“Tenant”), effective as of the 15th day of June, 2006.

R E C I T A L S:

WHEREAS, Landlord and Tenant have heretofore entered
into that certain Lease Agreement dated February 8, 2006 (the “Lease Agreement”); and

WHEREAS, Exhibit F to the Lease Agreement provides,
among other things, that in the event that certain Scope Changes (as defined in
Exhibit F to the Lease Agreement) occur, either (a) Base Rent (as defined in
the Lease Agreement) will be adjusted as provided for in Exhibit F, or (b)
Tenant shall have the right to fund all or such portion of such excess costs in
which case Base Rent will not be adjusted as a result of such Tenant
expenditures; and

WHEREAS, certain Scope Changes have occurred as
hereinafter set forth, and Landlord and Tenant desire to provide for the
funding of such Scope Changes.

A G R E E M E N T:

NOW, THEREFORE, for and in consideration of the
premises and Ten Dollars and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby
agree as follows:

1.             Defined
Terms: All capitalized but undefined terms used in this Amendment shall
have the meaning given such terms in the Lease Agreement.

2.             Nature
of Scope Changes. The Scope Changes that have occurred are as follows:

a.             Concealed Site Condition Scope
Change. A change in the Improvements resulting from concealed site
conditions under the Land (the “Concealed Site Conditions”) in the amount of $150,206, the cost of
which shall be shared between Landlord and Tenant as provided for in Exhibit F
to the Lease Agreement.  This amount has
been incurred by Landlord to date; however, in completing the Improvements
Landlord may encounter additional Concealed Site Conditions that will be the
subject of the cost sharing provisions of Exhibit F to the Lease Agreement.

b.             Additions to
Tenant Finish. As a result of the development of the Final Tenant
Improvement Plans and Specifications provided for by Section 2(d) of the Lease
Agreement, and based upon the May 4, 2006 Merriman Schmitt drawings and the May
22, 2006 Choate estimate, the final estimated amount of the Tenant Improvement
Costs has been determined to be $4,855,718, which is $2,016,718 in excess of
the $2,839,000 Tenant Allowances provided therefor in the Development Budget
(the amount of such excess being herein referred to as the “Additions to Tenant Finish”).
This estimated amount does not include an additional $150,000 contingency that
may be used by Tenant for changes to Tenant Improvements.

 1
 

 

c.             Additions
to Landscaping Budget. An $85,000 increase in the budgeted cost of
landscaping above the $80,000 budget for landscaping provided for in the
Development Budget.

3.             Funding
of Scope Changes. Tenant agrees to pay for the Scope Changes set forth in
paragraph 2 above as follows:

a.             Concealed Site Conditions
Payment.  Pursuant to the terms of
Exhibit F to the Lease Agreement, Tenant shall pay its $75,103 or 50% share of
the cost of the Concealed Site Conditions upon execution of this Amendment by
the parties.

b.             Additions to
Tenant Finish and Landscaping. Landlord is in the process of constructing
the portions of the Tenant Improvements giving rise to the net increase in
Tenant Allowances and will begin installing landscaping at the appropriate time
in the construction schedule.  Tenant
will pay Landlord for the amount of the Additions to Tenant Finish and the
additions to the landscaping on a monthly basis as Landlord incurs such costs.  Landlord will submit to Tenant within fifteen
days after the last day of each calendar month a Certificate for Payment
indicating the amount of the expense that the Landlord has incurred during such
month for Tenant Improvements and landscaping in excess of the allowances
therefor provided for in the Development Budget, and Tenant shall pay Landlord
for such amounts as shall have been incurred in accordance with the Final
Tenant Improvement Plans and Specifications on or before ten (10) business days
after Tenant’s receipt of such Certificate for Payment; provided that, unless
otherwise agreed by the Tenant, the aggregate amount of the actual increases to
Tenant Improvements expenses billed to the Tenant shall not exceed
$2,016,718.  To the extent that Tenant
and Landlord agree in writing to changes to the May 4, 2006 Merriman Schmitt
drawings and the cost of such changes, and it causes increases above the
foregoing $2,016,718 increase to the Tenant Allowance due to increases in the
Tenant Improvements, Tenant will be responsible for such increase. The extra $85,000
landscaping allowance is an allowance and Tenant shall be responsible for any
amounts in excess of such allowance based on written agreements between
Landlord and Tenant indicating the scope and amount of any such increases.

4.             Failure
of Tenant to Pay for Additions to Tenant Finish. Tenant’s failure to make
any payment under paragraph 3 above when due and the continuance of that
failure for more than 5 business days after the date on which Landlord gives
Tenant written notice of the delinquency shall constitute an Event of Default
under the Lease Agreement.

5.             Treatment of Tenant’s Payments
for Scope Changes.  Consistent with
the last paragraph of Exhibit F of the Lease Agreement, the Additions to Tenant
Finish made pursuant to this Amendment and any payments made by the Tenant
pursuant to this Amendment shall not result in any adjustment to Rent under the
Lease Agreement or be included in the Project Costs determined pursuant to the
Lease Agreement.  The Additions to Tenant
Finish shall be deemed to be Alterations approved by the Landlord, and the
amounts therefor billed to Tenant pursuant to Certificates for Payment shall be
sufficient upon payment of such amounts by Tenant to discharge any and all
mechanics or other liens incurred in connection with the Additions to Tenant
Finish.  Landlord will cooperate with
Tenant such that the Additions to Tenant Finish and any other amounts paid by
Tenant pursuant to this Agreement shall be treated as an investment in

 2
 

 

the Premises by the
Tenant for purposes of the Incentives provided to the Tenant by the State of
South Carolina, its agencies, instrumentalities and political subdivisions.

6.             No
Further Amendment.  The Lease
Agreement shall remain in full force and effect, as modified by this Amendment.

IN WITNESS WHEREOF,
Landlord and Tenant have executed this Amendment effective as of the date first
above written.

	
  

  	
  LANDLORD:

  
	
   

  	
   

  
	
   

  	
  KDC-CAROLINA INVESTMENTS 3, LP, 

  a Delaware limited partnership

  

 

	
  

  	
  By:

  	
  KDC-Carolina Investments 3 GP, LLC, 

  a Delaware limited liability company, 

  its General Partner

  

 

	
  

  	
  By:

  	
  Koll Development Company I, LP, 

  a Delaware limited partnership, 

  its Sole Member

  

 

	
  

  	
  By:

  	
  SWV, LLC, 

  a Delaware limited liability company,

  its General Partner

  

 

	
  

  	
  By:

  	
  /s/ TOBIN C. GROVE

  
	
   

  	
   

  	
  Tobin C. Grove, President

  

 

	
  

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
  3D SYSTEMS CORPORATION, a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROBERT M. GRACE, JR.

  
	
   

  	
  Name:

  	
  Robert M. Grace, Jr.

  
	
   

  	
  Title:

  	
  Vice President, General Counsel

  and Secretary

  

 

 3

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