Document:

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                                  EXHIBIT 10.46

                               SECURITY AGREEMENT

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               This SECURITY AGREEMENT, dated as of August 11, 2000 (this
"Agreement"), is made among CENTRAL CONSUMER FINANCE COMPANY, a Delaware
corporation, ("Borrower"), CENTRAL CHECK CASHING, INC., a California corporation
("CCCI"), and CENTRAL CONSUMER COMPANY OF NEVADA, a Nevada corporation ("CCCN"),
(Borrower, CCCI and CCCN are each a "Grantor" and collectively and severally
"Grantors") and UNION BANK OF CALIFORNIA, N.A., as agent (in such capacity, and
together with its successors, the "Agent") for the Lenders (as hereafter
defined) under that certain Credit Agreement, dated as of August 11, 2000 (as
amended, restated, modified, renewed, supplemented or extended from time to
time, the "Credit Agreement"), among the Borrowers, and the lenders party
thereto (collectively, "Lenders" and individually, a "Lender"), and the Agent.

               The parties hereto agree as follows:

        25. Definitions; Interpretation.

        (a)     Terms Defined in Credit Agreement. All capitalized terms used in
                this Agreement and not otherwise defined herein have the
                meanings specified in the Credit Agreement.

        (b)     Certain Defined Terms. As used in this Agreement, the following
                terms have the following meanings:

               "Accounts" means any and all accounts of any or all Grantors,
whether now existing or hereafter acquired or arising, and in any event includes
all accounts receivable, contract rights, rights to payment, and other
obligations of any kind owed to any or all Grantors arising out of or in
connection with the sale or lease of merchandise, goods, or commodities or the
rendering of services or arising from any other transaction, however evidenced,
and whether or not earned by performance, all guaranties, indemnities, and
security with respect to the foregoing, and all letters of credit relating
thereto, in each case whether now existing or hereafter acquired or arising.

               "Assigned Benefits" means all of any Grantor's right, title and
interest in and to: (i) all payments and/or distributions of revenue, income,
profits, property and other sums now or hereafter due from any other Grantor in
respect of any Equity Interest in such other Grantor; (ii) all other monies owed
and payable to any Grantor by any other Grantor, whether owed in connection with
loans, management agreements, marketing agreements, other contracts, or
otherwise, each in effect as of the Closing Date or any amendments thereto
permitted under the Credit Agreement; (iii) the right of any Grantor to receive
any of the foregoing; and (iv) all Proceeds of the foregoing.

               "Books" means all books, records and other written, electronic or
other documentation in whatever form maintained now or hereafter by or for any
or all Grantors in connection with the ownership of their assets or the conduct
of their business or evidencing or containing information relating to the
Collateral, including: (i) ledgers; (ii) records indicating, summarizing, or
evidencing Grantors' assets (including Inventory and Rights to Payment),
business operations, or financial condition; (iii) computer programs and
software; (iv) computer discs, tapes, files, manuals, and spreadsheets; (v)
computer printouts and output of whatever

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kind; (vi) any other computer prepared or electronically stored, collected, or
reported information and equipment of any kind; and (vii) any and all other
rights now or hereafter arising out of any contract or agreement between any or
all Grantors and any service bureau, computer, or data processing company or
other Person charged with preparing or maintaining any of any or all Grantors'
books or records or with credit reporting, including with regard to any or all
Grantors' Accounts, Consumer Contracts, or other Rights to Payment.

               "Chattel Paper" means all writings of whatever sort which
evidence a monetary obligation and a security interest in or lease of specific
goods, whether now existing or hereafter arising.

               "Collateral" has the meaning specified in Section 2.

               "Consumer Contracts" has the meaning set forth in the Credit
Agreement.

               "Copyright Security Agreement" means the Copyright Security
Agreement executed and delivered by Grantors in favor of Agent, substantially in
the form of Exhibit "A" hereto, as the same may be amended from time to time.

               "Deposit Account" means any demand, time, savings, passbook or
like account now or hereafter maintained by or for the benefit of any or all
Grantors with a bank, savings and loan association, credit union or like
organization (including Agent)) and all funds and amounts therein, whether or
not restricted or designated for a particular purpose.

               "Documents" means any and all documents of title, bills of
lading, dock warrants, dock receipts, warehouse receipts and other documents of
any or all Grantors, whether or not negotiable, and includes all other documents
which purport to be issued by a bailee or agent and purport to cover goods in
any bailee's or agent's possession which are either identified or are fungible
portions of an identified mass, including such documents of title made available
to any or all Grantors for the purpose of ultimate sale or exchange of goods or
for the purpose of loading, unloading, storing, shipping, transshipping,
manufacturing, processing, or otherwise dealing with goods in a manner
preliminary to their sale or exchange, in each case whether now existing or
hereafter acquired or arising.

               "Equipment" means all now existing or hereafter acquired
equipment of any or all Grantors in all of its forms, wherever located (other
than certificated motor vehicles, registered aircraft, and documented or
certificated vessels), and in any event includes any and all machinery,
furniture, equipment, furnishings, and fixtures in which any or all Grantors now
or hereafter acquire any right, and all other goods and tangible personal
property (other than Inventory), including tools, parts and supplies,
automobiles, trucks, tractors and other vehicles, computer and other electronic
data processing equipment, and other office equipment, computer programs, and
related data processing software, and all additions, substitutions,
replacements, parts, accessories, and accessions to and for the foregoing, now
owned or hereafter acquired, and including any of the foregoing which are or are
to become fixtures on real property.

               "Equity Interest" means (a) with respect to any corporation, a
capital interest therein, including, without limitation, any interest therein
which entitles the holder thereof to share in the revenue, income, earnings or
losses thereof or to vote or otherwise participate in any

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election of one or more directors thereof, (b) with respect to any general
partnership, limited partnership or limited liability partnership, a partnership
interest therein, including, without limitation, any interest therein which
entitles the holder thereof to share in the revenue, income, earnings or losses
thereof or to vote or otherwise participate in any election of one or more
members of the managing body thereof (c) with respect to any limited liability
company, a membership interest therein, including without limitation, any
interest therein which entitles the holder thereof to share in the revenue,
income earnings or losses thereof to share in the revenue, income, earnings or
losses thereof or to vote or otherwise participate in any election of one or
more members of the managing body thereof, (d) with respect to any trust, a
beneficial interest therein, including, without limitation, any interest therein
which entitles the holder thereof to share in the corpus of such trust or in any
of the revenue income, earnings or losses thereof or to vote or otherwise
participate in any designation of one or more trustees thereof, (e) with respect
to any other Person that is a business entity, an equity interest therein,
including, without limitation, any interest therein which entitles the holder
thereof to share in the revenue, income, earnings or losses thereof or to vote
or otherwise participate in the election of one or more members of the managing
body thereof, and (f) all warrants and options in respect of any of the
foregoing and all other securities which are convertible or exchangeable
therefor.

               "Financing Statements" has the meaning specified in Section 3.

               "General Intangibles" means all general intangibles of any or all
Grantors, now existing or hereafter acquired or arising, and in any event
includes: (i) all tax and other refunds, rebates or credits of every kind and
nature to which any or all Grantors are now or hereafter may become entitled;
(ii) all goodwill, choses in action and causes of action, whether legal or
equitable, whether in contract or tort and however arising; (iii) all
Intellectual Property Collateral; (iv) all uncertificated securities and
interests in limited and general partnerships; (v) all rights of stoppage in
transit, replevin and reclamation; (vi) all licenses, permits, consents,
indulgences and rights of whatever kind issued in favor of or otherwise
recognized as belonging to any or all Grantors by any Governmental Authority;
and (vii) all indemnity agreements, guaranties, insurance policies and other
contractual, equitable and legal rights of whatever kind or nature; in each case
whether now existing or hereafter acquired or arising; provided, that the term
"General Intangibles" shall not include Equity Interests.

               "Governmental Authority" means any nation or government, any
state or other political subdivision thereof, any central bank (or similar
monetary or regulatory authority) thereof, any entity exercising executive,
legislative, judicial, regulatory, or administrative functions of or pertaining
to government, and any corporation or other entity owned or controlled, through
stock or capital ownership or otherwise, by any of the foregoing.

               "Grantor" and "Grantors" means the Grantors named in the
introduction to this Agreement and any party executing and delivering a Guaranty
Joinder Letter to the Agent pursuant to Section 4.4 of the Guaranty.

               "Instruments" means any and all negotiable instruments,
certificated securities (including those representing an Equity Interest), and
every other writing which evidences a right to the payment of money, in each
case whether now existing or hereafter acquired (including the

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stock in any Subsidiary of any Grantor which is hereafter acquired by such
Grantor), all of such which is now existing being as described in Schedule 2.

               "Intellectual Property Collateral" means the following properties
and assets owned or held by any or all Grantors or in which any or all Grantors
otherwise have any interest, now existing or hereafter acquired or arising:

        (i)     all patents and patent applications, domestic or foreign, all
                licenses relating to any of the foregoing, and all income and
                royalties with respect to any licenses (including such patents,
                patent applications, and patent licenses as described in
                Schedule 1), all rights to sue for past, present or future
                infringement thereof, all rights arising therefrom and
                pertaining thereto and all reissues, divisions, continuations,
                renewals, extensions, and continuations-in-part thereof
                (collectively, the "Patents");

        (ii)    all copyrights and applications for copyright, domestic or
                foreign, together with the underlying works of authorship
                (including titles), whether or not the underlying works of
                authorship have been published and whether said copyrights are
                statutory or arise under the common law, and all other rights
                and works of authorship, all rights, claims, and demands in any
                way relating to any such copyrights or works, including
                royalties and rights to sue for past, present, or future
                infringement, and all rights of renewal and extension of
                copyright (collectively, the "Copyrights");

        (iii)   all state (including common law), federal and foreign
                trademarks, service marks, and trade names, and applications for
                registration of such trademarks, service marks and trade names,
                all licenses relating to any of the foregoing and all income and
                royalties with respect to any licenses (including such marks,
                names, applications and licenses as described in Schedule 1),
                whether registered or unregistered and wherever registered, all
                rights to sue for past, present, or future infringement or
                unconsented use thereof, all rights arising therefrom and
                pertaining thereto and all reissues, extensions and renewals
                thereof (collectively, the "Trademarks");

        (iv)    all trade secrets, confidential information, customer lists,
                license rights, advertising materials, operating manuals,
                methods, processes, know-how, sales literature, drawings,
                specifications, blue prints, descriptions, inventions, name
                plates, and catalogs; and

        (v)     the entire goodwill of or associated with the businesses now or
                hereafter conducted by any or all Grantors connected with and
                symbolized by any of the aforementioned properties and assets.

               "Inventory" means any and all of any or all Grantors' inventory
in all of its forms, wherever located, whether now owned or hereafter acquired,
and in any event includes all goods (including goods in transit) which are held
for sale, lease, or other disposition, including those held for display or
demonstration or out on lease, or consignment or to be furnished under a
contract of service, or which are raw materials, work in process, finished
goods, or materials used or consumed in any or all Grantors' business, and the
resulting product or mass, and all repossessed, returned, rejected, reclaimed,
and replevied goods, together with all parts, components, supplies, packing, and
other materials used or usable in connection with the

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manufacture, production, packing, shipping, advertising, selling, or furnishing
of such goods; and all other items hereafter acquired by any or all Grantors by
way of substitution, replacement, return, repossession, or otherwise, and all
additions and accessions thereto, and any Document representing or relating to
any of the foregoing at any time.

               "Investment Property" means (i) a security, whether certificated
or uncertificated, (ii) a security entitlement, (iii) a securities account, (iv)
a commodities contract, (v) any other investment property (as defined in the
UCC), (vi) all rights to delivery of any security, commodity contract, or other
financial asset and all other entitlements with respect thereto, and (vii) all
claims, demands and causes of action (whether arising under state or federal
securities laws or otherwise) relating to the offering, purchase, sale, or
holding of any of the foregoing.

               "Lender Party" means, as the context may require, any Lender or
the Agent and each of their respective successors, transferees, and assigns.

               "Patent Security Agreement" means the Patent Security Agreement
executed and delivered by Grantors in favor of the Agent, substantially in the
form of Exhibit "B" hereto, as the same may be amended from time to time.

        "Payment Account" means a bank account maintained with Agent or other
depositary acceptable to Agent and to which the proceeds of Accounts, Consumer
Contracts, or other Rights to Payment are deposited or credited, and which is
maintained in the name of Agent or Borrower, as Agent may determine, on terms
acceptable to the Agent and in which Agent has a first priority, perfected
security interest.

               "Proceeds" means whatever is receivable or received from or upon
the sale, lease, license, collection, use, exchange, or other disposition,
whether voluntary or involuntary, of any Collateral or other assets of any or
all Grantors, including "proceeds" as defined at UCC Section 9306, any and all
proceeds of any insurance, indemnity, warranty, or guaranty payable to or for
the account of any or all Grantors from time to time with respect to any of the
Collateral, any and all payments (in any form whatsoever) made or due and
payable to any or all Grantors from time to time in connection with any
requisition, confiscation, condemnation, seizure, or forfeiture of all or any
part of the Collateral by any Governmental Authority (or any Person acting under
color of Governmental Authority), any and all other amounts from time to time
paid or payable under or in connection with any of the Collateral or for or on
account of any damage or injury to or conversion of any Collateral by any
Person, any and all other tangible or intangible property received upon the sale
or disposition of Collateral, and all proceeds of proceeds.

               "Rights to Payment" means all Accounts, all Consumer Contracts,
and any and all rights and claims to the payment or receipt of money or other
forms of consideration of any kind in, to and under all Chattel Paper,
Documents, General Intangibles, Instruments, and Proceeds.

               "Secured Obligations" means (a) the "Obligations" as defined in
the Credit Agreement and includes all obligations, liabilities and indebtedness
of every kind and character, whether now existing or hereafter arising, whether
absolute or contingent, and whether direct or indirect, arising directly or
indirectly under or pursuant to any one or more of the Loan Documents, whether
for principal, interest (including, without limitation, interest that, but for
the filing of a petition in bankruptcy, would accrue on such obligations,
liabilities or indebtedness),

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fees (including, without limitation, reasonable attorneys' fees of outside
counsel and the reasonable allocated fees of internal counsel) or expenses, (b)
all obligations, liabilities and indebtedness of Borrower to Union Bank of
California, N.A. of every kind and character, whether now existing or hereafter
arising, whether absolute or contingent, and whether direct or indirect, arising
directly or indirectly under or pursuant to any and all transactions, agreements
or documents now existing or hereafter entered into, which provides for an
interest rate, credit, commodity or equity swap, cap, floor, collar, forward
foreign exchange transaction, currency swap, cross currency rate swap, currency
option, or any combination of, or option with respect to, these or similar
transactions, for the purpose of hedging Borrower's exposure to fluctuations in
interest or exchange rates, loan, credit exchange, security or currency
valuations or commodity prices, whether for principal, interest (including,
without limitation, interest that, but for the filing of a petition in
bankruptcy, would accrue on such obligations, liabilities or indebtedness), fees
(including, without limitation, reasonable attorneys' fees of outside counsel
and the reasonable allocated fees of internal counsel) or expenses, and (c) all
obligations, liabilities and indebtedness of Borrower to Union Bank of
California, N.A. of every kind and character, whether now existing or hereafter
arising, whether absolute or contingent, and whether direct or indirect, arising
directly or indirectly under or pursuant to any cash management or related
services including the automatic clearing house transfer of funds by the Bank
for the account of Borrower pursuant to agreement or overdrafts, whether for
principal, interest (including, without limitation, interest that, but for the
filing of a petition in bankruptcy, would accrue on such obligations,
liabilities or indebtedness), fees (including, without limitation, reasonable
attorneys' fees of outside counsel and the reasonable allocated fees of internal
counsel) or expenses.

               "Trademark Security Agreement" means the Trademark Security
Agreement executed and delivered by Grantors in favor of the Agent,
substantially in the form of Exhibit "C" attached hereto, as the same be amended
from time to time.

               "UCC" means the Uniform Commercial Code as the same may, from
time to time, be in effect in the State of California; provided in the event
that, by reason of mandatory provisions of law, any or all of the attachment,
perfection or priority of the security interest in any Collateral is governed by
the Uniform Commercial Code as in effect in a jurisdiction other than the State
of California, the term "UCC" shall mean the Uniform Commercial Code as in
effect in such other jurisdiction for purposes of the provisions hereof relating
to such attachment, perfection or priority and for purposes of definitions
related to such provisions.

        (c)     Certain Rules of Construction. For purposes of this Agreement
                and unless otherwise specified herein:

        (i)     Computation of Time Periods. For purposes of computing periods
                of time: (A) the word "from" means "from and including" and the
                words "to" and "until" each mean "to but excluding"; and (B)
                periods measured in days shall be measured in calendar days.

        (ii)    Construction. References to the plural include the singular and
                to the singular include the plural, references to any gender
                include any other gender, the part includes the whole, the term
                "including" is not limiting, and the term "or" has, except where
                otherwise indicated, the inclusive meaning represented by the
                phrase "and/or."

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                References in this Agreement to any determination by the Agent
                include good faith estimates (in the case of quantitative
                determinations) by and good faith beliefs (in the case of
                qualitative determinations) of the Agent. The words "hereof,"
                "herein," "hereby," and "hereunder," and any other similar
                words, refer to this Agreement as a whole and not to any
                particular provision of this Agreement. Article, section,
                subsection, clause, exhibit, and schedule references are to this
                Agreement. Any reference to this Agreement or any other Loan
                Document includes all permitted alterations, amendments,
                changes, extensions, modifications, renewals, or supplements
                thereto or thereof, as applicable.

        (iii)   Exhibits and Schedules. All of the exhibits and schedules
                attached are incorporated herein by this reference.

        (iv)    Terms Defined in the UCC. All terms used herein which are not
                otherwise specifically defined (including the term "good faith")
                shall have the meaning set forth in the UCC if defined therein.

        (v)     No Presumption Against Any Party. Neither this Agreement nor any
                other Loan Document nor any uncertainty or ambiguity herein or
                therein shall be construed or resolved using any presumption
                against any party hereto or thereto, whether under any rule of
                construction or otherwise. On the contrary, this Agreement and
                the other Loan Documents have been reviewed by each of the
                parties and their counsel and, in the case of any ambiguity or
                uncertainty, shall be construed and interpreted according to the
                ordinary meaning of the words used so as to fairly accomplish
                the purposes and intentions of all parties.

        (vi)    Independence of Provisions. All agreements and covenants
                hereunder and under the other Loan Documents shall be given
                independent effect such that if a particular action or condition
                is prohibited by the terms of any such agreement or covenant,
                the fact that such action or condition would be permitted within
                the limitations of another agreement or covenant shall not be
                construed as allowing such action to be taken or condition to
                exist.

        26. Security Interest.

        (a)     Grant of Security Interest. As security for the payment and
                performance of the Secured Obligations, Grantors hereby pledge,
                assign, transfer, hypothecate, and set over to the Agent for its
                benefit and for the ratable benefit of the other Lender Parties,
                and hereby grant to the Agent for its benefit and for the
                ratable benefit of the other Lender Parties, a security interest
                in, all of any or all Grantors' right, title, and interest in,
                to, and under the following property, wherever located and
                whether now existing or owned or hereafter acquired or arising
                (collectively, the "Collateral"): (i) all Accounts, Consumer
                Contracts, and other Rights to Payment; (ii) all Chattel Paper;
                (iii) all Deposit Accounts; (iv) all Documents; (v) all
                Equipment; (vi) all General Intangibles; (vii) all Investment
                Property; (viii) all Instruments; (ix) all Inventory; (x) all
                Intellectual Property Collateral; (xi) all Books; (xii) all of
                any Grantor's rights with respect to the Assigned Benefits and
                the right to receive the

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                Assigned Benefits, whether now existing or hereafter arising,
                including any Equity Interest in any Guarantor, and (xiii) the
                all products and Proceeds of any and all of the foregoing.

        (b)     Grantors Remain Liable. Anything herein to the contrary
                notwithstanding, prior to a foreclosure or other action which
                results in none of Grantors maintaining any title or interest in
                such Collateral and subject to the terms of this Agreement, (i)
                Grantors shall remain liable under any contracts, agreements,
                and other documents included in the Collateral, to the extent
                set forth therein, to perform all of their respective (or joint
                and several) duties and obligations thereunder to the same
                extent as if this Agreement had not been executed, (ii) the
                exercise by the Agent of any of the rights hereunder shall not
                release Grantors from any of their respective (or joint and
                several) duties or obligations under such contracts, agreements,
                and other documents included in the Collateral, and (iii)
                neither the Agent nor any other Lender Party shall have any
                obligation or liability under any contracts, agreements, and
                other documents included in the Collateral by reason of this
                Agreement, nor shall the Agent or any other Lender Party be
                obligated to perform any of the obligations or duties of any or
                all Grantors thereunder or to take any action to collect or
                enforce any such contract, agreement, or other document included
                in the Collateral hereunder.

        (c)     Continuing Security Interest. Grantors agree that this Agreement
                shall create a continuing security interest in the Collateral
                which shall remain in effect until terminated in accordance with
                Section 22.

        (d)     Intellectual Property. Contemporaneously with the execution and
                delivery of this Agreement, and in furtherance of the pledging,
                assignment, transfer, hypothecation, set over, and grant by
                Grantors to the Agent of a security interest in the Collateral,
                Grantors shall execute and deliver the Copyright Security
                Agreement, the Patent Security Agreement, and the Trademark
                Security Agreement to the Agent.

        (e)     Payment of Assigned Benefits; Voting and Other Rights. So long
                as no Event of Default is continuing, Grantors may receive the
                Assigned Benefits and may exercise any voting and other rights
                to which each is entitled as the holder of an Equity Interest in
                any other Grantor; provided that no vote shall be cast or any
                consent, waiver, or ratification given or any action taken which
                would violate the terms of this Agreement, the other Loan
                Documents, or any other instrument or agreement referred to
                therein or herein. During the continuance of an Event of
                Default, the provisions of Section 10 hereof shall apply.

        (f)     Grantors to Cooperate. Grantors each hereby covenant and agree
                that it shall take any and all actions within its power to cause
                all other Grantors in which it holds an Equity Interest to
                comply with all terms and conditions of this Agreement, and
                shall, as the holder of an Equity Interest in such other
                Grantors, execute all checks, documents, agreements, and
                instruments of assignments as the Agent may reasonably require
                to effectuate the terms of this Agreement, and deliver all sums
                and other property required to be paid and/or delivered to the
                Agent under the terms of this Agreement.

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        (g)     Affected Foreign Shares. Agent acknowledges that Borrower, as a
                Grantor, may deliver to Agent stock certificates, together with
                undated stock powers, representing less than 66-2/3%, but not
                less than 66%, of the outstanding shares of stock of the
                Excluded Subsidiaries (as defined in the Credit Agreement); all
                outstanding shares of the Excluded Subsidiaries being referred
                to herein as the "Affected Foreign Shares"). Because the intent
                of Borrower and Agent is to grant a security interest in a
                percentage of the Affected Foreign Shares equal to the maximum
                percentage of the Affected Foreign Shares that can be pledged to
                Agent by Borrower without constituting an investment of earnings
                in U.S. property under Section 956 (or any successor provision)
                of the IRC that would trigger an increase in the gross income of
                Borrower pursuant to Section 951 (or any successor provision) of
                the IRC (such percentage being the "Maximum Percentage"), Agent
                hereby confirms that the Pledged Shares of each Affected Foreign
                Subsidiary shall refer only to, and the grants of security
                interests created hereby shall extend only to, the Maximum
                Percentage of the Affected Foreign Shares. If Agent shall take
                any action to foreclose on the Affected Foreign Shares, Agent
                hereby agrees to act only with regard to the Maximum Percentage
                of the Affected Foreign Shares; provided that nothing herein
                shall preclude Agent from exercising the stock -------- powers
                with respect to all outstanding Affected Foreign Shares to take
                such action as may be necessary to transfer the Affected Foreign
                Shares other than the Maximum Percentage of the Affected Foreign
                Shares (the "Remaining Shares") to Borrower or to such other
                person or entity as Borrower designates. The parties hereto
                agree that Agent has no fiduciary or other responsibilities or
                duties with regard to the Remaining Shares and that Agent is
                serving only as custodian with respect to the Remaining Shares.

        27. Financing Statements, Etc.

        (a)     Perfection. Grantors shall execute and deliver to the Agent
                concurrently with the execution of this Agreement, and at any
                time and from time to time thereafter, all financing statements,
                continuation financing statements, termination statements,
                security agreements, chattel mortgages, assignments, patent,
                copyright and trademark collateral assignments, fixture filings,
                warehouse receipts, documents of title, affidavits, reports,
                notices, schedules of account, letters of authority, and all
                other documents and instruments, in form satisfactory to the
                Agent (the "Financing Statements"), and take all other action,
                as the Agent may reasonably request, to perfect and continue
                perfected, maintain the priority of or provide notice of the
                Agent's security interest in the Collateral and to accomplish
                the purposes of this Agreement.

        (b)     Notice of Security Interest. In accordance with Section
                9302(1)(g) of the UCC, written notice of the security interest
                of the Agent in each Deposit Account maintained with a Lender is
                hereby given to such Lender.

        28. Representations and Warranties. In addition to the representations
and warranties of Grantors set forth in the Credit Agreement, which are
incorporated herein by this reference, Grantors represent and warrant to the
Agent that:

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        (a)     Location of Chief Executive Office and Collateral. Each
                Grantor's chief executive office and principal place of business
                is located at the address set forth in Schedule 1, and all other
                locations where any or all Grantors conduct business are set
                forth in Schedule 1.

        (b)     Locations of Books. All locations where Books pertaining to the
                Rights to Payment are kept, including all equipment necessary
                for accessing such Books and the names and addresses of all
                service bureaus, computer or data processing companies and other
                Persons keeping any Books or collecting Rights to Payment for
                any or all Grantors, are set forth in Schedule 1.

        (c)     Trade Names and Trade Styles. All trade names and trade styles
                under which any or all Grantors presently conducts its business
                operations are set forth in Schedule 1, and, except as set forth
                in Schedule 1, none of Grantors has, at any time during the
                preceding five years: (i) been known as or used any other
                corporate, trade, or fictitious name; (ii) changed its name;
                (iii) been the surviving or resulting corporation in a merger or
                consolidation; or (iv) acquired through asset purchase or
                otherwise any business of any Person.

        (d)     Ownership of Collateral. Each Grantor is, and, except as
                permitted by Section 5(j) hereof and except for dispositions of
                Collateral in compliance with Section 7.04 of the Credit
                Agreement, will continue to be, the sole and complete owner of
                the Collateral owned by it, except for Collateral co-owned by
                two or more Grantors, as to which such Grantors are and will
                continue to be the sole and complete owners thereof (or, in the
                case of after-acquired Collateral, at the time such Grantor
                acquires rights in such Collateral, will be the sole and
                complete owner thereof, except for Collateral co-owned by two or
                more Grantors, as to which such Grantors will be the sole and
                complete owners thereof), free from any Lien other than
                Permitted Liens;

        (e)     Enforceability; Priority of Security Interest. (i) This
                Agreement creates a security interest which is enforceable
                against the Collateral in which any or all Grantors now have
                rights and will create a security interest which is enforceable
                against the Collateral in which any or all Grantors hereafter
                acquire rights at the time any or all Grantors, as the case may
                be, acquire any such rights; and (ii) the Agent has a perfected
                and first priority (except for Permitted Liens) security
                interest in the Collateral, in which any or all Grantors now
                have rights, and will have a perfected and first priority
                (except for Permitted Liens) security interest in the Collateral
                in which any or all Grantors hereafter acquire rights at the
                time such Grantor or Grantors, as the case may be, acquire any
                such rights, in each case for the Agent's own benefit and for
                the ratable benefit of the other Lender Parties, and in each
                case securing the payment and performance of the Secured
                Obligations.

        (f)     Other Financing Statements. Other than financing statements or
                similar filings under the UCC or any comparable law ("UCC
                Financing Statements") related to Permitted Liens, no effective
                UCC Financing Statement naming any or all Grantors as debtor,
                assignor, grantor, mortgagor, pledgor, or the like and covering
                all or any part of the Collateral is on file in any filing or
                recording office in any jurisdiction.

                                      -42-
<PAGE>   12

        (g)     Rights to Payment. (i) The Rights to Payment represent valid,
                binding and enforceable obligations of the account debtors or
                other Persons obligated thereon, representing undisputed, bona
                fide transactions completed in accordance with the terms and
                provisions contained in any documents related thereto, and are
                and will be genuine, free from Liens, and not subject to any
                adverse claims, counterclaims, setoffs, defaults, disputes,
                defenses, discounts, retainages, holdbacks or conditions
                precedent of any kind of character, except to the extent
                reflected by Grantors' respective reserves for uncollectible
                Rights to Payment or to the extent, if any, that such account
                debtors or other Persons may be entitled to normal and ordinary
                course trade discounts, returns, adjustments and allowances in
                accordance with Section 5(m), or as otherwise disclosed to the
                Agent in writing;

        (i)     to Grantors' knowledge, all account debtors and other obligors
                on the Rights to Payment are solvent and generally paying their
                debts as they come due (except for Rights to Payment of account
                debtors or other obligors for which Grantors have taken adequate
                reserves in accordance with GAAP).

        (ii)    to Grantors' knowledge, all Rights to Payment comply in all
                material respects with all applicable laws concerning form,
                content, and manner of preparation and execution, including
                where applicable any federal or state consumer credit laws;

        (iii)   none of Grantors have assigned any of its rights under the
                Rights to Payment except as provided in this Agreement or as set
                forth in or permitted by the other Loan Documents;

        (iv)    all statements made, all unpaid balances and all other
                information in the Books and other documentation relating to the
                Rights to Payment are in all material respects true and correct
                and what they purport to be; and

        (v)     Grantors have no knowledge of any fact or circumstance which
                would in any material respect impair the validity or
                collectibility of any material part of the Rights to Payment.

        (h)     Inventory. No Inventory is stored with any bailee, warehouseman,
                or similar Person or on any premises leased to any or all
                Grantors, nor has any Inventory been consigned to any or all
                Grantors or consigned by any or all Grantors to any Person or is
                held by any or all Grantors for any Person under any "bill and
                hold" or other arrangement, except as set forth in Schedule 1.

        (i)     Intellectual Property. (i) Except as set forth in Schedule 1,
                none of Grantors (directly or through any Subsidiary) owns,
                possesses, or uses under any licensing arrangement any patents,
                copyrights, trademarks, service marks, or trade names, nor is
                there currently pending before any Governmental Authority any
                application for registration of any Intellectual Property
                Collateral;

        (i)     all Intellectual Property Collateral are subsisting and none
                have been adjudged invalid or unenforceable in whole or in part;

                                      -43-
<PAGE>   13

        (ii)    all maintenance fees required to be paid on account of any
                Patents have been timely paid for maintaining such patents in
                force, and, to Grantors' knowledge, each of the Patents is valid
                and enforceable and Grantors have notified the Agent in writing
                of all material prior art (including public uses and sales) of
                which it is aware;

        (iii)   to Grantors' knowledge after due inquiry, no material
                infringement or unauthorized use presently is being made of any
                Intellectual Property Collateral by any Person;

        (iv)    each Grantor is the sole and exclusive owner of its respective
                Intellectual Property Collateral and if any Intellectual
                Property Collateral is co-owned by two or more Grantors, such
                Grantors are the sole and exclusive co-owners of such
                Intellectual Property Collateral; and the past, present, and
                contemplated future use of such Intellectual Property Collateral
                by such Grantor or Grantors, as the case may be, has not, does
                not, and will not infringe or violate any right, privilege, or
                license agreement of or with any other Person; and

        (v)     each Grantor owns, has material rights under, is a party to, or
                an assignee of a party to all of its material licenses, Patents,
                Copyrights, Trademarks, and all other of its Intellectual
                Property Collateral necessary to continue to conduct its
                business as heretofore conducted.

        (j)     Equipment. (i) None of the material Equipment or other material
                Collateral is affixed to real property, except Collateral with
                respect to which Grantors have supplied the Agent with all
                information and documentation necessary to make all fixture
                filings required to perfect and protect the priority of the
                Agent's security interest in all such Collateral which may be
                fixtures as against all Persons having an interest in the
                premises to which such property may be affixed; and

        (k)     Deposit Accounts. The names and addresses of all financial
                institutions at which Grantors maintain their respective Deposit
                Accounts, and the account numbers and account names of such
                Deposit Accounts, are set forth in Schedule 1. None of Grantors
                will establish or maintain any Deposit Account with any
                financial intermediary unless Grantors shall first obtain the
                written undertaking and acknowledgement from such financial
                intermediary with respect to Lenders' security interest therein,
                all such undertakings and acknowledgements to be satisfactory in
                form and substance to the Agent in the exercise of its
                reasonable discretion.

        (l)     Compliance with Federal Fair Labor Standards Act. All Collateral
                has been and will be produced in compliance with the Federal
                Fair Labor Standards Act.

        29. Covenants. In addition to the covenants of Grantors set forth in the
Credit Agreement, which are incorporated herein by this reference, until this
Agreement has been terminated in accordance with Section 22 hereof, Grantors
agree that:

        (a)     Defense of Collateral. Grantors will appear in and defend any
                action, suit, or proceeding which may affect to a material
                extent any or all Grantors' title to, or right or interest in,
                or the Agent's right to or interest in, any material Collateral.

                                      -44-
<PAGE>   14

        (b)     Preservation of Collateral. Grantors will do and perform all
                reasonable acts that may be necessary and appropriate to
                maintain, preserve and protect the Collateral.

        (c)     Compliance with Laws, Etc. Grantors will comply in all material
                respects with all laws, regulations, and ordinances, and all
                policies of insurance, relating in a material way to the
                possession, operation, maintenance, and control of the
                Collateral.

        (d)     Location of Books and Chief Executive Office. Grantors will: (i)
                keep all Books pertaining to the Rights to Payment at the
                locations set forth in Schedule 1; and (ii) give at least 30
                days' prior written notice to the Agent of (A) any changes in
                any such location where Books pertaining to the Rights to
                Payment are kept, including any change of name or address of any
                service bureau, computer or data processing company or other
                Person preparing or maintaining any Books or collecting Rights
                to Payment for any or all Grantors or (B) any changes in the
                location of Grantors' respective chief executive offices or
                principal places of business.

        (e)     Location of Collateral. Grantors will: (i) keep all material
                Collateral at the locations set forth in Schedule 1 and not
                remove any material Collateral from such locations (other than
                disposals of Collateral permitted by subsection (i)) except upon
                at least 30 days' prior written notice of any removal to the
                Agent; and (ii) give the Agent at least 30 days' prior written
                notice of any change in the locations set forth in Schedule 1.

        (f)     Change in Name, Identity or Structure. Grantors will give at
                least 30 days' prior written notice of (i) any change in name,
                (ii) any changes in, additions to, or other modifications of
                their respective trade names and trade styles set forth in
                Schedule 1, and (iii) any changes in their respective identities
                or structures in any manner which might make any Financing
                Statement filed hereunder incorrect or misleading.

        (g)     Maintenance of Records. Grantors will keep separate, accurate,
                and complete Books with respect to all Accounts, Consumer
                Contracts, and Chattel Paper.

        (h)     Disposition of Collateral. Grantors will not surrender or lose
                possession of (other than to the Agent), sell, lease, rent, or
                otherwise dispose of or transfer any of the Collateral or any
                right or interest therein, except to the extent permitted by the
                Credit Agreement.

        (i)     Liens. Other than Permitted Liens, Grantors will keep the
                Collateral free of all Liens.

        (j)     Leased Premises. Upon the Agent's request, Grantors will use
                their best efforts to obtain from each Person from whom any or
                all Grantors lease any premises at which any Collateral is at
                any time present such subordination, waiver, consent, and
                estoppel agreements as the Agent may reasonably require, in form
                and substance reasonably satisfactory to the Agent.

                                      -45-
<PAGE>   15

        (k)     Rights to Payment. Grantors will:

        (i)     if required by the Agent (but not more frequently than annually
                or, if an Event of Default has occurred and is continuing and
                Requisite Lenders so require, then with such frequency as
                Requisite Lenders may require) furnish to the Agent (A) master
                customer listings, including all names and addresses, together
                with copies or originals (as requested by the Agent) of
                documents, customer statements, repayment histories and present
                status reports relating to the Accounts and Consumer Contracts;
                (B) accurate records and summaries of Accounts and Consumer
                Contracts, including detailed agings specifying the name, face
                value and date of each invoice, and listings of Accounts and
                Consumer Contracts that are disputed or have been cancelled; and
                (C) such other matters and information relating to the Accounts
                or Consumer Contracts as the Agent shall from time to time
                reasonably request;

        (ii)    give only normal discounts, allowances and credits as to
                Accounts, Consumer Contracts and other Rights to Payment, in the
                ordinary course of business, according to normal trade practices
                utilized by Grantors in the past, and enforce all Accounts,
                Consumer Contracts, and other Rights to Payment strictly in
                accordance with their terms, and take all such action to such
                end as may from time to time be reasonably requested by the
                Agent, except that Grantors may grant any extension of the time
                for payment or enter into any agreement to reduce the amount
                owing on or with respect to, or compromise or settle for less
                than the full amount thereof, any Account or other Right to
                Payment in the ordinary course of business;

        (iii)   if any discount, allowance, credit, extension of time for
                payment, agreement to make a rebate or otherwise to reduce the
                amount owing on, or compromise or settle, an Account or other
                Right to Payment exists or occurs, or if, to the knowledge of
                any or all Grantors, any dispute, setoff, claim, counterclaim or
                defense exists or has been asserted or threatened with respect
                to an Account or other Right to Payment, disclose such fact
                fully to the Agent in the Books relating to such Account or
                other Right to Payment and in connection with any invoice or
                report furnished by any or all Grantors to the Agent relating to
                such Account or other Right to Payment;

        (iv)    if any Accounts arise from contracts with the United States or
                any department, agency, or instrumentality thereof, immediately
                notify the Agent thereof and execute any documents and
                instruments and take any other steps requested by the Agent in
                order that all monies due and to become due thereunder shall be
                assigned to the Agent and notice thereof given to the Federal
                authorities under the Federal Assignment of Claims Act;

        (v)     in accordance with their sound business judgment, perform and
                comply in all material respects with their joint and several
                obligations in respect of the Accounts, Consumer Contracts and
                other Rights to Payment; and

        (vi)    upon the request of the Agent (A) at any time, notify all or any
                designated portion of the account debtors and other obligors on
                the Rights to Payment of the security interest hereunder, and
                (B) upon the occurrence and during the continuance of an

                                      -46-
<PAGE>   16

                Event of Default, notify the account debtors and other obligors
                on the Rights to Payment or any designated portion thereof that
                payment shall be made directly to the Agent or to such other
                Person or location as the Agent shall specify.

        (l)     Documents, Etc. (i) Upon the request of the Agent, Grantors will
                (A) immediately deliver to the Agent, or an agent designated by
                it, appropriately endorsed or accompanied by appropriate
                instruments of transfer or assignment, all Documents,
                Instruments, Investment Property, and Chattel Paper, and all
                other Rights to Payment at any time evidenced by promissory
                notes, trade acceptances or other instruments, (B) mark all
                Documents, Instruments, Chattel Paper, and all other Rights to
                Payment at any time evidenced by promissory notes, trade
                acceptances or other instruments, with the legend "This document
                and all rights to payment hereunder are subject to a security
                interest held by Union Bank of California, N.A., as agent" and
                such other legends as the Agent shall reasonably specify, (C)
                cause the issuer with respect to any Equity Interest in any
                Subsidiary or in any issuer with respect to a security which is
                not a certificated security directly held by any Grantor and not
                embodied in a certificated security to duly execute and deliver
                to the Agent a written agreement, in form and substance
                satisfactory to the Agent, by such issuer to comply with
                instructions originated by the Agent without further consent by
                any Grantor, and (D) cause the securities intermediary of any
                securities account or commodities account to duly execute and
                deliver to the Agent a written agreement, in form and substance
                satisfactory to the Agent, by such securities intermediary to
                comply with instructions originated by the Agent without further
                consent by any Grantor.

        (ii)    Grantors shall not, without the prior written consent of the
                Agent:

        (1)     approve the amendment or termination of the Organization
                Documents of any other Grantor in which it holds an Equity
                Interest in a manner materially adverse to the rights of the
                Agent and the other Lender Parties under this Agreement or the
                other Loan Documents; or

        (2)     permit any Guarantor to issue any additional Equity Interests or
                redeem any Equity Interests;

        (iii)   One or more of Grantors shall own the entire Equity Interest in
                any Person that becomes a Grantor as the result of such Person's
                execution of a Guaranty Joinder Letter.

        (m)     Inventory. Grantors will:

        (i)     if requested by the Agent (but no more frequently than annually,
                or if an Event of Default has occurred and is continuing and the
                Requisite Lenders so require, then at such times as Requisite
                Lenders shall request), prepare and deliver to the Agent a
                report of all Inventory, in form and substance satisfactory to
                the Agent; and

        (ii)    not store any Inventory with a bailee, warehouseman, or similar
                Person or on premises leased to any or all Grantors, nor dispose
                of any Inventory on a bill-and-hold, guaranteed sale, sale and
                return, sale on approval, consignment or similar basis,

                                      -47-
<PAGE>   17

                nor acquire any Inventory from any Person on any such basis,
                without in each case giving the Agent prior written notice
                thereof.

        (n)     Equipment. Grantors will, upon the Agent's reasonable request,
                which shall be made no more frequently than annually unless an
                Event of Default has occurred and is continuing, deliver to the
                Agent a physical listing of the Equipment, in form and substance
                reasonably satisfactory to the Agent. In addition, Grantors
                will, upon the Agent's request made at any time, obtain the
                written agreement of the lessor (or other controller) of any
                real property upon which any Equipment is located permitting the
                Agent to enter upon such real property, and either (at the
                election of the Agent) remove such Equipment therefrom or
                utilize such Equipment thereon for a period of at least 180 days
                (or lesser period, as determined by the Agent, and for a monthly
                rental payment no greater than the amount that the applicable
                Grantor is obligated to pay with respect thereto), each such
                written agreement to be otherwise in form and substance
                satisfactory to the Agent.

        (o)     Intellectual Property Collateral. Grantors will:

        (i)     except in the ordinary course of business, not enter into any
                agreements or transactions (including any license or royalty
                agreement) pertaining to any material Intellectual Property
                Collateral;

        (ii)    if reasonably within Grantors' abilities, not allow or suffer
                any material Intellectual Property Collateral to become
                abandoned, nor any registration thereof to be terminated,
                forfeited, expired or dedicated to the public;

        (iii)   give the Agent, simultaneously with the delivery to the Agent of
                the financial information required with respect to each fiscal
                quarter pursuant to Section 6.01(b) of the Credit Agreement,
                notice of any rights any Grantor may obtain to any material new
                patentable inventions, copyrightable works or other material new
                Intellectual Property Collateral, prior to the filing of any
                application for registration thereof; and

        (iv)    diligently prosecute all applications for material Patents,
                Copyrights, and Trademarks, and file and prosecute any and all
                continuations, continuations-in-part, applications for reissue,
                applications for certificate of correction and like matters as
                shall be reasonable and appropriate in accordance with prudent
                business practice, and promptly and timely pay any and all
                maintenance, license, registration and other fees, taxes, and
                expenses incurred in connection with any material Intellectual
                Property Collateral.

               If, before the Secured Obligations shall have been paid in full
and this Agreement shall have been terminated in accordance with Section 22
hereof, any or all Grantors shall obtain or become entitled to the benefit of,
as exclusive licensee, any material new Patents, Trademarks, or Copyrights or
any material new rights in any Patents, Trademarks, or Copyrights, Grantors
shall give to the Agent, simultaneously with the delivery to the Agent of the
financial information required with respect to each fiscal quarter pursuant to
Section 6.01(b) of the Credit Agreement, written notice thereof and, together
therewith (unless earlier requested by the Agent), deliver to the Agent a duly
executed Copyright Security Agreement, Patent Security

                                      -48-
<PAGE>   18

Agreement, and/or Trademark Security Agreement adequately describing such new
Patents, Copyrights, and/or Trademarks, as appropriate, for recording or filing
as the Agent sees fit.

        (p)     Notices, Reports and Information. Grantors will (i) notify the
                Agent of any material claim made or asserted against the
                Collateral by any Person and of any material change in the
                composition of the Collateral or other event which could
                materially adversely affect the value of the Collateral or the
                Agent's Lien thereon; (ii) furnish to the Agent such statements
                and schedules further identifying and describing the Collateral
                and such other reports and other information in connection with
                the Collateral as the Agent may reasonably request, all in
                reasonable detail; and (iii) upon request of the Agent, make
                such demands and requests for information and reports as any or
                all Grantors are entitled to make in respect of the Collateral.

        (q)     Collections. Upon receipt of any collections with respect to any
                Accounts, Consumer Contracts, or other Rights to Payment,
                Borrower shall immediately deliver all payments in their
                original form duly endorsed in blank into a Payment Account. If,
                notwithstanding such instructions, Borrower receives and retains
                any proceeds of Accounts, Consumer Contracts, or other Rights to
                Payment, it shall receive such payments as Agent's trustee, and
                shall immediately deliver such payments to Agent in their
                original form duly endorsed in blank or deposit them into a
                Payment Account, as the Agent may direct. All collections
                received in any Payment Account or directly by Borrower. So long
                as an Event of Default has occurred and is continuing, Borrower,
                at Agent's request, shall execute and deliver to Agent such
                documents as Agent shall require to grant Agent access to any
                post office box in which collections of Accounts, Consumer
                Contracts, or other Rights to Payment are received.

        (r)     Additional Grantors. Upon any Person becoming a Grantor by
                virtue of such Person's execution and delivery of a Guarantor
                Joinder Letter, the Credit Parties will, simultaneously with the
                delivery of such Guaranty Joinder Letter to the Agent, deliver
                to the Agent information with respect to such additional Grantor
                of the nature set forth in Schedules 1 and 2 hereto as is
                required of Grantors in connection with their execution and
                delivery of this Agreement. In connection therewith, such Person
                shall execute such Financing Statements and other documents and
                instruments (including a Copyright Security Agreement, Patent
                Security Agreement and Trademark Security Agreement) as shall be
                necessary in the judgment of the Agent to perfect the Agent's
                security interest in any new Collateral acquired by the Agent as
                the result of such Person becoming an additional Grantor.

        30. Collection of Rights to Payment. Until the Agent exercises its
rights hereunder to collect Rights to Payment, Grantors shall endeavor in the
first instance diligently to collect all amounts due or to become due on or with
respect to the Rights to Payment. At the request of the Agent, upon and after
the occurrence and during the continuance of any Event of Default, all
remittances received by any or all Grantors shall be held in trust for the Agent
and, in accordance with the Agent's instructions, remitted to the Agent or
deposited to an account with the Agent in the form received (with any necessary
endorsements or instruments of assignment or transfer).

                                      -49-
<PAGE>   19

        31. Authorization; Agent Appointed Attorney-in-Fact. The Agent shall
have the right to, in the name of any or all Grantors, or in the name of the
Agent or otherwise, without notice to or assent by Grantors, and Grantors hereby
constitute and appoint the Agent (and any of the Agent's officers, employees, or
agents designated by the Agent) as Grantors' true and lawful attorney-in-fact,
with full power and authority to:

        (i)     sign any of the Financing Statements which must be executed,
                filed, or recorded to perfect or continue perfected, maintain
                the priority of or provide notice of the Agent's security
                interest in the Collateral;

        (ii)    take possession of and endorse any notes, acceptances, checks,
                drafts, money orders, or other forms of payment or security and
                collect any Proceeds of any Collateral;

        (iii)   sign and endorse any invoice or bill of lading relating to any
                of the Collateral, warehouse or storage receipts, drafts against
                customers or other obligors, assignments, notices of assignment,
                verifications, and notices to customers or other obligors;

        (iv)    notify the Postal Service authorities to change the address for
                delivery of mail addressed to any or all Grantors to such
                address as the Agent may designate and, without limiting the
                generality of the foregoing, establish with any Person lockbox
                or similar arrangements for the payment of the Rights to
                Payment;

        (v)     receive, open, and dispose of all mail addressed to any or all
                Grantors;

        (vi)    send requests for verification of Rights to Payment to the
                customers or other obligors of any or all Grantors;

        (vii)   contact, or direct Grantors to contact, all account debtors and
                other obligors on the Rights to Payment and instruct such
                account debtors and other obligors to make all payments directly
                to the Agent;

        (viii)  assert, adjust, sue for, compromise, or release any claims under
                any policies of insurance;

        (ix)    exercise dominion and control over, and refuse to permit further
                withdrawals from, Deposit Accounts maintained with the Agent;

        (x)     notify each Person maintaining lockbox or similar arrangements
                for the payment of the Rights to Payment to remit all amounts
                representing collections on the Rights to Payment directly to
                the Agent;

        (xi)    ask, demand, collect, receive, and give acquittances and
                receipts for any and all Rights to Payment, enforce payment or
                any other rights in respect of the Rights to Payment and other
                Collateral, grant consents, agree to any amendments,
                modifications, or waivers of the agreements and documents
                governing the Rights to Payment and other Collateral, and
                otherwise file any claims, take any action, or institute,
                defend, settle, or adjust any actions, suits, or proceedings
                with respect to the

                                      -50-
<PAGE>   20

                Collateral, as the Agent may deem necessary or desirable to
                maintain, preserve, and protect the Collateral, to collect the
                Collateral or to enforce the rights of the Agent with respect to
                the Collateral;

        (xii)   execute any and all applications, documents, papers, and
                instruments necessary for the Agent to use the Intellectual
                Property Collateral and grant or issue any exclusive or
                non-exclusive license or sublicense with respect to any
                Intellectual Property Collateral;

        (xiii)  execute any and all endorsements, assignments, or other
                documents and instruments necessary to sell, lease, assign,
                convey, or otherwise transfer title in or dispose of the
                Collateral;

        (xiv)   assert any and all Rights and Remedies and to collect all
                damages, awards, and other monies resulting therefrom; and

        (xv)    execute any and all such other documents and instruments, and do
                any and all acts and things for and on behalf of Grantors, which
                the Agent may deem necessary or advisable to maintain, protect,
                realize upon, and preserve the Collateral and the Agent's
                security interest therein and to accomplish the purposes of this
                Agreement.

               The Agent agrees that, except upon and after the occurrence of an
Event of Default, it shall not exercise the power of attorney, or any rights
granted to the Agent, pursuant to clauses (ii) through (xv). The foregoing power
of attorney is coupled with an interest and irrevocable so long as any Lender
has any Commitment or the Secured Obligations have not been paid and performed
in full. Grantors hereby ratify, to the extent permitted by law, all that the
Agent shall lawfully and in good faith do or cause to be done by virtue of and
in compliance with this Section 7.

        32. Agent Performance of Grantors Obligations. The Agent may perform or
pay any obligation which any or all Grantors have agreed to perform or pay under
or in connection with this Agreement, and Grantors shall reimburse the Agent on
demand for any amounts paid by the Agent pursuant to this Section 8.

        33. Agent's Duties. Notwithstanding any provision contained in this
Agreement, the Agent shall have no duty to exercise any of the rights,
privileges or powers afforded to it and shall not be responsible to Grantors or
any other Person for any failure to do so or delay in doing so. Beyond the
exercise of reasonable care to assure the safe custody of Collateral in the
Agent's possession and the accounting for moneys actually received by the Agent
hereunder, the Agent shall have no duty or liability to exercise or preserve any
rights, privileges, or powers pertaining to the Collateral.

        34. Remedies. (a)Remedies. Upon the occurrence and during the
continuance of any Event of Default, the Agent shall have, in addition to all
other rights and remedies granted to it in this Agreement, the Credit Agreement
or any other Loan Document, all rights and remedies of a secured party under the
UCC and other applicable laws. Without limiting the generality of the foregoing,
Grantors agree that the Agent may:

                                      -51-
<PAGE>   21

        (i)     peaceably and without notice enter any premises of any or all
                Grantors, take possession of any the Collateral, remove or
                dispose of all or part of the Collateral on any premises or
                elsewhere, and otherwise collect, receive, appropriate, and
                realize upon all or any part of the Collateral, and demand, give
                receipt for, settle, renew, extend, exchange, compromise,
                adjust, or sue for all or any part of the Collateral, as the
                Agent may determine;

        (ii)    require Grantors to assemble all or any part of the Collateral
                and make it available to the Agent at any place and time
                designated by the Agent;

        (iii)   use or transfer any of Grantors' rights and interests in any
                Intellectual Property Collateral, by license, by sublicense (to
                the extent permitted by an applicable license) or otherwise, on
                such conditions and in such manner as the Agent may determine;

        (iv)    secure the appointment of a receiver of the Collateral or any
                part thereof to the extent and in the manner provided by
                applicable law, as more particularly set forth in Section 10(f)
                hereof;

        (v)     withdraw (or cause to be withdrawn) any and all funds from
                Deposit Accounts;

        (vi)    assert any of the Rights and Remedies and receive and collect
                all damages, awards, and other monies resulting therefrom; and

        (vii)   sell, resell, lease, use, assign, transfer, or otherwise dispose
                of any or all of the Collateral in its then condition or
                following any commercially reasonable preparation or processing
                (utilizing in connection therewith any of any or all Grantors'
                assets, without charge or liability to the Agent therefor) at
                public or private sale, by one or more contracts, in one or more
                parcels, at the same or different times, for cash or credit, or
                for future delivery without assumption of any credit risk, all
                as the Agent deems advisable; provided that Grantors shall be
                credited with the net proceeds of sale only when such proceeds
                are finally collected by the Agent. The Agent shall have the
                right upon any such public sale, and, to the extent permitted by
                law, upon any such private sale, to purchase the whole or any
                part of the Collateral so sold, free of any right or equity of
                redemption, which right or equity of redemption Grantors hereby
                release, to the extent permitted by law. Grantors hereby agree
                that the sending of notice by ordinary mail, postage prepaid, to
                the address of Grantors set forth in the Credit Agreement, of
                the place and time of any public sale or of the time after which
                any private sale or other intended disposition is to be made,
                shall be deemed reasonable notice thereof if such notice is sent
                ten days prior to the date of such sale or other disposition or
                the date on or after which such sale or other disposition may
                occur, provided that the Agent may provide Grantors shorter
                notice or no notice, to the extent permitted by the UCC or other
                applicable law.

        (b)     License. For the purpose of enabling the Agent to exercise its
                rights and remedies under this Section 10 or otherwise in
                connection with this Agreement, Grantors hereby grant to the
                Agent an irrevocable, non-exclusive and assignable license
                (exercisable without payment or royalty or other compensation to
                Grantors) to use, license or sublicense any Intellectual
                Property Collateral.

                                      -52-
<PAGE>   22

        (c)     Proceeds Account. To the extent that any of the Secured
                Obligations may be contingent, unmatured, or unliquidated at
                such time as there may exist an Event of Default, the Agent may,
                at its election, (i) retain the proceeds of any sale,
                collection, disposition or other realization upon the Collateral
                (or any portion thereof) in a special purpose
                non-interest-bearing restricted deposit account (the "Proceeds
                Account") created and maintained by the Agent for such purpose
                (which shall constitute a Deposit Account included within the
                Collateral hereunder) until such time as the Agent may elect to
                apply such proceeds to the Secured Obligations, and Grantors
                agree that such retention of such proceeds by the Agent shall
                not be deemed strict foreclosure with respect thereto; (ii) in
                any manner elected by the Agent, estimate the liquidated amount
                of any such contingent, unmatured, or unliquidated claims and
                apply the proceeds of the Collateral against such amount; or
                (iii) otherwise proceed in any manner permitted by applicable
                law. Grantors agree that the Proceeds Account shall be a blocked
                account and that upon the irrevocable deposit of funds into the
                Proceeds Account, Grantors shall not have any right of
                withdrawal with respect to such funds. Accordingly, Grantors
                irrevocably waive until the termination of the security
                interests granted under this Agreement in accordance with
                Section 22 the right to make any withdrawal from the Proceeds
                Account and the right to instruct the Agent to honor drafts
                against the Proceeds Account.

        (d)     Application of Proceeds. Subject to subsection (c) immediately
                above, the cash proceeds actually received from the sale or
                other disposition or collection of Collateral, and any other
                amounts received in respect of the Collateral the application of
                which is not otherwise provided for herein, shall be applied
                (after payment of any amounts payable to the Agent pursuant to
                Section 8 or Section 14) in whole or in part by the Agent for
                the benefit of the Lender Parties against all or any part of the
                Secured Obligations in the following order: (i) first, to any
                fees, costs, or other expenses due under the Loan Documents;
                (ii) next, to any interest (including interest due under
                subsection 2.07(c) of the Credit Agreement; (iii) next, to any
                principal due under the Loan Documents; and (iv) last, to any
                other Secured Obligations. Any surplus thereof which exists
                after payment and performance in full of the Secured Obligations
                shall be promptly paid over to Grantors or otherwise disposed of
                in accordance with the UCC or other applicable law. Grantors
                shall remain liable to the Agent for any deficiency which exists
                after any sale or other disposition or collection of Collateral.

        (e)     Agreement to Execute and Deliver Documents. Upon the exercise by
                the Agent of any power, right, privilege, or remedy pursuant to
                this Agreement which requires any consent, approval,
                registration, qualification, or authorization of any
                Governmental Authority, Grantors agree to execute and deliver,
                or will cause the execution and delivery of, all applications,
                certificates, instruments, assignments, and other documents and
                papers that the Agent or any purchaser of the Collateral may be
                required to obtain for such governmental consent, approval,
                registration, qualification, or authorization.

        (f)     Stipulation re: Receiver. Grantors hereby irrevocably stipulate
                and agree that the Agent has the right under this Agreement,
                upon the occurrence and during the

                                      -53-
<PAGE>   23

                continuance of an Event of Default, to seek the appointment of a
                receiver, trustee, or similar official over Grantors to effect
                the transactions contemplated by this Agreement. Grantors hereby
                irrevocably agree not to object to such appointment on any
                grounds.

        (g)     Particular Remedies re: Equity Interests.

        (i)     During the continuance of an Event of Default, at the Agent's
                option, and in addition to any and all other rights and remedies
                available to the Agent pursuant to this Agreement, the other
                Loan Documents, at law, or otherwise, Grantors shall cooperate
                with the Agent in having Grantors' respective Equity Interests
                in all Guarantors transferred to the Agent or its designee in
                accordance with the applicable Organization Documents and in
                each Guarantor's respective records;

        (ii)    During the continuance of an Event of Default, the Agent may,
                without notice of election and without demand, do any one or
                more of the following, all of which Grantors authorize and agree
                are commercially reasonable:

        (1)     notify Grantors that the Agent has the absolute and
                unconditional right to receive any and all payments of any kind
                whatsoever to be made by or payable by a Grantor to one or more
                Guarantors, whether as the holder of an Equity Interest in such
                Guarantors or as creditor thereof, including without limitation
                the Assigned Benefits;

        (2)     receive payment of the Assigned Benefits directly from
                Guarantors, or otherwise collect the Assigned Benefits, or
                transfer the right to receive the Assigned Benefits, without
                recourse to the security interest granted hereby. Grantors
                hereby authorize and instruct all Guarantors in which they hold
                an Equity Interest to pay all of the Assigned Benefits directly
                to the Agent from time to time as the same shall become due,
                from and after receipt by Guarantors of written demand from the
                Agent;

        (3)     to exercise all of Grantors' respective voting and other rights
                as the holder of an Equity Interest in Guarantors (whether or
                not transferred to the Agent) and give all consents, waivers,
                and ratifications in respect of the Equity Interests and
                otherwise act with respect thereto as though it were the
                outright owner thereof; GRANTORS HEREBY IRREVOCABLY CONSTITUTE
                AND APPOINT THE AGENT THE PROXY AND ATTORNEY-IN-FACT OF
                GRANTORS, COUPLED WITH AN INTEREST, WITH FULL POWER OF
                SUBSTITUTION FOR ANY AND ALL OF SUCH PURPOSES; WHICH PROXY AND
                POWER OF ATTORNEY SHALL CONTINUE IN FULL FORCE AND EFFECT AND
                TERMINATE UPON THE EARLIER TO OCCUR OF (A) THE INDEFEASIBLE
                PAYMENT IN FULL OF THE SECURED OBLIGATIONS, AND (B) TWELVE (12)
                YEARS FROM THE DATE HEREOF.

        35. Certain Waivers. Grantors waive, to the fullest extent permitted by
law, (i) any right of redemption with respect to the Collateral, whether before
or after sale hereunder, and all rights, if any, of marshalling of the
Collateral or other collateral or security for the Secured Obligations; (ii) any
right to require the Agent (A) to proceed against any Person, (B) to exhaust any
other collateral or security for any of the Secured Obligations, (C) to pursue
any remedy in

                                      -54-
<PAGE>   24

the Agent's power, or (D) to make or give any presentments, demands for
performance, notices of nonperformance, protests, notices of protests, or
notices of dishonor in connection with any of the Collateral; and (iii) all
claims, damages, and demands against the Agent arising out of the repossession,
retention, sale, or application of the proceeds of any sale of the Collateral.

        36. Notices. All notices or other communications hereunder shall be
given in the manner and to the addresses specified in the Credit Agreement. All
such notices and other communications shall be effective (i) if delivered by
hand or pre-paid courier service, when delivered; (ii) if sent by mail, upon the
earlier of the date of receipt or five Business Days after deposit in the mail,
first class, postage prepaid; (iii) if sent by telex, upon receipt by the sender
of an appropriate answer back; and (iv) if sent by facsimile transmission, when
sent.

        37. No Waiver; Cumulative Remedies. No failure on the part of the Agent
to exercise, and no delay in exercising, any right, remedy, power, or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right, remedy, power or privilege preclude any other or
further exercise thereof or the exercise of any other right, remedy, power, or
privilege. The rights and remedies under this Agreement are cumulative and not
exclusive of any rights, remedies, powers, and privileges that may otherwise be
available to the Agent.

        38. Costs and Expenses; Indemnification; Other Charges.

        (a)     Costs and Expenses. Grantors agree to pay on demand:

        (i)     the reasonable out-of-pocket costs and expenses of the Agent and
                any of its Affiliates, and the Agent's reasonable Attorney
                Costs, in connection with the negotiation, preparation,
                execution, delivery, and administration of this Agreement, and
                any amendments, modifications, or waivers of the terms thereof,
                and the custody of the Collateral;

        (ii)    upon the occurrence and during the continuance of an Event of
                Default, all title, appraisal (including the allocated costs of
                internal appraisal services), survey, audit, consulting, search,
                recording, filing, and similar costs, fees, and expenses
                incurred or sustained by the Agent or any of its Affiliates in
                connection with this Agreement or the Collateral; and

        (iii)   all reasonable costs and expenses of the Agent and its
                Affiliates, including Attorney Costs, in connection with the
                enforcement of, and preservation of any rights or interests
                under, this Agreement, including in any out-of-court workout or
                other refinancing or restructuring or in any bankruptcy case,
                and the protection, storing, warehousing, insuring, sale, or
                collection of, or other realization upon, any of the Collateral,
                including all expenses of taking, collecting, holding, sorting,
                handling, preparing for sale, selling, or the like, and other
                such expenses of sales and collections of Collateral, and any
                and all losses, costs, and expenses sustained by the Agent as a
                result of any failure by Grantors to perform or observe their
                obligations contained herein.

                                      -55-
<PAGE>   25

        (b)     Indemnification. Grantors hereby agree to indemnify the Agent,
                the other Lender Parties, any Affiliate of any of them, and
                their respective directors, officers, employees, agents,
                counsel, and other advisors (each an "Indemnified Person")
                against, and hold each of them harmless from, any and all
                liabilities, obligations, losses, claims, damages, penalties,
                actions, judgments, suits, costs, expenses, or disbursements of
                any kind or nature whatsoever, including the reasonable fees and
                disbursements of counsel to an Indemnified Person (including
                reasonable allocated costs of internal counsel), which may be
                imposed on, incurred by, or asserted against any Indemnified
                Person, in any way relating to or arising out of this Agreement
                or the transactions contemplated hereby or any action taken or
                omitted to be taken by it hereunder (the "Indemnified
                Liabilities"); provided that Grantors shall not be liable to any
                Indemnified Person for any portion of such Indemnified
                Liabilities arising from such Indemnified Person's gross
                negligence or willful misconduct. If and to the extent that the
                foregoing indemnification is for any reason held unenforceable,
                Grantors agree to make the maximum contribution to the payment
                and satisfaction of each of the Indemnified Liabilities which is
                permissible under applicable law.

        (c)     Other Charges. Grantors agree to indemnify the Agent against and
                hold it harmless from any and all present and future stamp,
                transfer, documentary, and other such taxes, levies, fees,
                assessments, and other charges made by any jurisdiction by
                reason of the execution, delivery, performance, and enforcement
                of this Agreement.

        (d)     Interest. Any amounts payable to the Agent under this Section 14
                or otherwise under this Agreement if not paid upon demand shall
                bear interest from the date of such demand until paid in full,
                at the rate of interest set forth in subsection 2.07(c) of the
                Credit Agreement.

        39. Binding Effect. This Agreement shall be binding upon, inure to the
benefit of and be enforceable by Grantors, the Agent, and their respective
successors and assigns.

        40. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, EXCEPT AS
REQUIRED BY MANDATORY PROVISIONS OF LAW AND TO THE EXTENT THE VALIDITY OR
PERFECTION OF THE SECURITY INTERESTS HEREUNDER, OR THE REMEDIES HEREUNDER, IN
RESPECT OF ANY COLLATERAL ARE GOVERNED BY THE LAW OF A JURISDICTION OTHER THAN
CALIFORNIA, PROVIDED THAT THE PARTIES SHALL RETAIN ALL RIGHTS ARISING UNDER
FEDERAL LAW.

        41. Entire Agreement; Amendment. This Agreement contains the entire
agreement of the parties with respect to the subject matter hereof and shall not
be amended except by the written agreement of the parties as provided in the
Credit Agreement.

        42. Severability. Whenever possible, each provision of this Agreement
shall be interpreted in such manner as to be effective and valid under all
applicable laws and regulations. If, however, any provision of this Agreement
shall be prohibited by or invalid under any such law or regulation in any
jurisdiction, it shall, as to such jurisdiction, be deemed modified to

                                      -56-
<PAGE>   26

conform to the minimum requirements of such law or regulation, or, if for any
reason it is not deemed so modified, it shall be ineffective and invalid only to
the extent of such prohibition or invalidity without affecting the remaining
provisions of this Agreement, or the validity or effectiveness of such provision
in any other jurisdiction.

        43. Counterparts. This Agreement 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 taken
together shall constitute but one and the same agreement.

        44. Incorporation of Provisions of the Credit Agreement. To the extent
the Credit Agreement contains provisions of general applicability to the Loan
Documents, including any such provisions contained in Article XI thereof, such
provisions are incorporated herein by this reference.

        45. No Inconsistent Requirements. Grantors acknowledge that this
Agreement and the other Loan Documents may contain covenants and other terms and
provisions variously stated regarding the same or similar matters, and agrees
that all such covenants, terms, and provisions are cumulative and all shall be
performed and satisfied in accordance with their respective terms.

        46. Termination. Upon termination of the Commitments of the Lenders
under the Loan Documents and payment in full of all Secured Obligations, the
security interests granted under this Agreement shall terminate and the Agent
shall promptly execute and deliver to Grantors such documents and instruments
reasonably requested by Grantors as shall be necessary to evidence termination
of all security interests given by Grantors to the Agent hereunder; provided
that the obligations of Grantors under Section 14 shall survive such
termination.

        47. Additional Grantors. Each Grantor party hereto consents to the
addition of other Persons as Grantors hereunder pursuant to Section 6.13 of the
Credit Agreement. Upon any Person becoming a Grantor hereunder after the Closing
Date, such Person shall forthwith provide to the Agent all information relating
to such Person of the nature set forth in Schedule 1 hereto.

                                      -57-
<PAGE>   27

               IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement, as of the date first above written.

GRANTORS:                              CENTRAL CONSUMER FINANCE COMPANY, a
                                       Delaware corporation

                                       By                 /S/
                                         ---------------------------------------
                                       Name: Gary Cypres
                                       Title: President

                                       Address for Notices:

                                       Attn: Gary Cypres
                                       5480 East Ferguson Drive
                                       Commerce, CA 90022
                                       Telephone: 323.720.8608
                                       Facsimile: 323.720.8729

                                       CENTRAL CHECK CASHING INC., a
                                       California corporation

                                       By                  /S/
                                          --------------------------------------
                                       Name: Gary Cypres
                                       Title: President

                                       Address for Notices:

                                       Attn: Gary Cypres
                                       5480 East Ferguson Drive
                                       Commerce, CA 90022
                                       Telephone: 323.720.8608
                                       Facsimile: 323.720.8729

                                       CENTRAL CONSUMER COMPANY OF NEVADA, a
                                       Nevada corporation

                                       By                 /S/
                                          --------------------------------------
                                       Name: Gary Cypres
                                       Title: President

                                       Address for Notices:

                                       Attn: Gary Cypres
                                       5480 East Ferguson Drive

                                      -58-
<PAGE>   28

                                       Commerce, CA 90022
                                       Telephone: 323.720.8608
                                       Facsimile: 323.720.8729

                                       AGENT:

                                       UNION BANK OF CALIFORNIA, N.A.

                                       By                 /S/
                                          --------------------------------------
                                       Name:  Robert C. Nagel
                                       Title: President

                                       Address for Notices:

                                       Notices (other than
                                       Requests for Extensions of
                                       Credit):

                                       Attn:  Robert C. Nagel
                                       350 California Street, 6th Floor
                                       San Francisco, CA 94104
                                       Telephone:  415.705.7189
                                       Facsimile:  415.705.5093

                                      -59-<PAGE>   1

                                                                     Exhibit 4.4

                            CERTIFICATE OF AMENDMENT
                                       TO
                      RESTATED CERTIFICATE OF INCORPORATION
                                       OF
                           UNIVERSAL ELECTRONICS INC.

                         Pursuant to Section 242 of the
                        Delaware General Corporation Law

The undersigned, Paul D. Arling and Richard A. Firehammer, Jr., President and
Secretary, respectively, of Universal Electronics Inc., a Delaware corporation
(the "Corporation"), hereby certify as follows:

1.       The name of the Corporation is Universal Electronics Inc.

2.       The Board of Directors of the Corporation at a meeting held February 1,
         2000, adopted the following resolution proposing and declaring
         advisable the following amendment to the Restated Certificate of
         Incorporation of the Corporation and directing that the amendment
         should be considered at the next annual meeting of the stockholders:

         RESOLVED, that Article FOURTH, Part I of the Corporation's Restated
         Certificate of Incorporation, as amended, be amended to read in its
         entirety as follows:

         Part I. AGGREGATE NUMBER OF SHARES. The aggregate number of shares of
         stock which the Corporation has authority to issue is 55,000,000
         shares, consisting of:

                  1.       5,000,000 shares of Preferred Stock, par value $.01
                           per share (the "Preferred Stock"); and

                  2.       50,000,000 shares of Common Stock, par value $.01 per
                           share (the "Common Stock").

3.       At the annual meeting of stockholders held June 21, 2000, the foregoing
         amendment was duly adopted in accordance with Section 242 of the
         Delaware General Corporation Law.

IN WITNESS WHEREOF, Universal Electronics Inc. has caused this Certificate of
Amendment to be signed by Paul D. Arling, its President, and attested by Richard
A. Firehammer, Jr., its Secretary, this 26th day of July, 2000.

                                            UNIVERSAL ELECTRONICS INC.

                                            By:   /s/  Paul D. Arling
                                                  -----------------------
                                                  Paul D. Arling, President

ATTEST:

/s/Richard A. Firehammer, Jr.
-----------------------------
Richard A. Firehammer, Jr.
Secretary

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