Document:

Exhibit 10.23 - Agreement

    
       

      
        

        

      

      
 

      Exhibit
        10.23

      

       

      LICENSE
        AGREEMENT

      

      between

      

      TITAN
        TECHNOLOGIES INCORPORATED

      3206
        Candelaria N.E. A1buquerque, New Mexico 87107

      (hereinafter
        referred to as “Titan”)

      

      and

      

      Ally
        Investment, LLP

      c/o
        Saeed
        A. Ally, M.D.

      2501
        Jimmy Johnson Blvd., Suite 201

      Port
        Arthur, TX 77640

      (hereinafter
        referred to as “Ally”)

      

      WITNESSETH:

      

      Whereas,
        TITAN is the owner of certain proprietary technologies (hereinafter collectively
        referred to as the “Technology”) with respect to recycling of tires in order to
        recover marketable oil, steel and carbon there from (but specifical1y excluding
        any applications of the Technology with respect to waste products other than
        tires); and

      

      Whereas,
        TITAN has previously authorized use of the Technology in tire recycling plants
        located in the Republic of Korea (South Korea) and Taiwan and, in connection
        therewith, has supervised
        construction
        and commissioning of such plants; and

      

      Whereas,
        Ally believes that it has preliminary financial arrangements in place for
        construction and operation of a double train recycling plant in Port Arthur,
        Texas, at a feed rate of between 200 and 300 tons of tires per day per plant,
        including satisfactory preliminary commitments for supply of tires at such
        rate;

      

      Whereas,
        Ally has access to a site, building and infrastructure in each of Port Arthur,
        Texas and Philadelphia, Mississippi for a double train plant using the Titan
        Technology at a rate of not less than
        200
        tons of shredded tires per day (“Plant”); and

      

      Now
        therefore, TITAN and Ally agree as follows:

      

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      I.
        PLANT
        LICENSE

       

      A.    Titan
        from
        and after the date that $1,600,000.00 is fully paid by Ally, grants to Ally
        or
        his assigns an exclusive license (the “License”) to utilize its technology
        and patent for construction and operation of a recycling plant and to utilize
        Titan’s Technology for the other recycling plants within the states of Texas,
        Louisiana, Mississippi, and Oklahoma (the “Territory”) subject to the additional
        conditions stated below. Ally shall have no ownership rights to the Technology
        other than the right to utilize Titan’s technology in the Territory for the
        construction and operation of one tire recycling plant utilizing Titan’s
        technology and the right to build and operate additional plants in the Territory
        on the conditions stated below. The License for the Plant shall commence
        upon
        the payment of $1,600,000.00 toward the licensing fee as stated in Paragraph
        I.B. below by Ally, assuming that Ally has funding in place for construction
        and
        operation of the Plant and pays all other amounts under this License Agreement.
        Design, permitting, financing, governmental approvals and commencement of
        construction of the first plant must be completed (hereinafter called
“Commencement of Construction”) on or before March 1, 2007. If the
        non-refundable initial License fee deposit of $100,000, which shall be applied
        to the license fee for the first Plant, is not paid by Ally to Titan on or
        before August 31, 2006, this Agreement and the License shall be and become
        null
        and void unless extended by mutual agreement in writing.

       

      If
        the
        Plant is not commenced, completed and in operation by March 31, 2008, then
        the
        exclusive license fee for the Territory will become the property of Titan
        and
        the license for any plant(s) for which construction has not commenced will
        terminate and any further obligation of Titan to Ally will cease. The
        termination of the exclusive license or loss of
        any
        license to build a plant or plants will not affect the license granted to
        Ally
        for any plants built or commenced prior to March 31, 2008. If Ally has the
        Plant
        in operation prior to March 31, 2008, Ally will be granted the exclusive
        license
        for Titan’s Technology for the territory in perpetuity subject to payment of
        Titan’s then applicable license and royalty fees for each subsequent plant.

      

      B.    The
        Licensing Fee and royalties for each two train plant will be paid to Titan
        in
accordance
        with the following schedule:

      

      
        	 	
                (i)

              	
                Payment
                  of the Licensing Fee of $1,600,000.00 for each plant upon the date
                  Licensee designates a new location for construction of a plant
                  in the
                  territory and has financing to build the plant in place;
                  and

              

      

      

      
        	
              	(v)	
                Production
                  royalties shall commence when each plant reaches a sustained capacity
                  of
                  200 tons of tires per day as determined by
                  Titan.

              

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      The
        production royalties shall be 1.5% of gross revenues derived by Licensee
        from
        sale of all products generated from the technology and the Plant payable
        quarterly by January 30, April 30, July 30, and October 30 for the preceding
        quarter for every quarter after each plant reaches the ability to run a capacity
        of 200 tons of tires per day as determined by Titan.

      
         

        C.    Ally
          shall be
          responsible for funding detailed engineering for each plant in consultation
          with
          Titan and Lockwood Greene. Ally reserves the right to use its selected
          sub-contractors for certain elements of the construction process of each
          plant,
          subject to approval by Lockwood Greene.

         

        D.    Titan
          agrees to provide two Titan technical personnel to be under the direction
          of
          Ally to provide such technical assistance as may be necessary or advisable
          for
          detailed engineering construction, commissioning and operations of each
          plant,
          including the period following execution of this Agreement until the Initial
          Plant is completed and until each Plant has become fully operational. The
          salaries and travel expenses of such technical personnel at any site outside
          of
          Albuquerque, New Mexico, shall be paid for by Ally on a current basis within
          10
          days after the end of any month during which Titan technical personnel
          provide
          services for Ally away from Titan’s Albuquerque office. For purposes of this
          Agreement, the salaries payable by Ally for said technical personnel shall
          be
          based upon an annual salary of $80,000 per person plus applicable payroll
          taxes
          and Titan shall notify Ally what portion of said employee’s monthly salary and
          what travel expenses were actually incurred working on the Initial Plant
          at
          Ally’s direction out of Albuquerque, based upon a 4O hour work
          week.

      

       

      Also,
        prior to execution of this Agreement Titan has provided to Ally a copy of
        U.S.
        Patent 5,871,619. Ally acknowledges that Pat. No. 5,714,043 has lapsed and
        one
        utility patent for the feed system and two other new provisional patents
        have
        been applied for with the U.S Patent Office. Titan and Ally are satisfied
        that
        Titan’s technology is sufficient to operate the proposed plants.

      

      E.     The
        exclusive license to utilize Titan’s Technology in the Territory shall commence
        when this License Agreement is signed, but shall terminate on March 2, 2007,
        if
        Ally does not commence construction of the first plant and pay the initial
        license fee payment of $1,600,000.00 to Titan by March 1, 2007. Said license
        shall be exclusive as to each plant for such period as each Plant is in
        continuous operation. The License shall also be deemed to grant Ally the
        right
        to use the Technology for the purpose of generating electric power within
        the
        defined Territory through combustion of products produced using the Technology.
        Titan shall not grant licenses for the tire recycling Technology (including
        its
        use for generation of electric power) to any entity or person other than
        Ally.

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      II.
        SUBSEQUENT PLANTS

       

      A.     Ally
        may
        add additional plant locations when Ally identifies other locations or has
        a
        need for greater capacity and has the necessary financing in place and is
        ready
        to construct a subsequent plant.

      

      The
        license fee for each additional plant shall be $l,600,000.00 per plant, which
        shall be paid to Titan at the time the License is granted for each subsequent
        plant and the location of the subsequent plant identified and accepted by
        Titan.

      

      Production
        royalties for each subsequent plant shall be paid quarterly as stated in
        Section
        I.b. above.

      

      If
        after
        the first plant is fully operational (meaning that it has achieved a continuous
        operational capacity of 200 tons of tires for a 24 hour period) Ally fails
        to
        expand its capacity by one two train plant within every twelve(12) month
        period
        up to a projected level of four plants (being two plants in Texas, one plant
        in
        Mississippi, and one plant in Oklahoma), the Territory may be reduced by
        the
        amount of capacity within the Territory upon the election of Titan if a willing
        and able prospective Licensee approaches Titan with an offer to build a plant
        within the Territory and Licensee does not, within thirty days after it is
        provided all of the terms and conditions of the offer by the Prospective
        Licensee, agree to build a plant to meet the additional capacity within a
        one
        year period from the date of the offer plus Ally’s ongoing commitment to build
        one plant per year.

      

      B.     Ally
        acknowledges that Titan has on-going discussions with third parties for
        construction of tire recycling plants using the Technology with respect to
        other
        locations outside the Territory and that Titan shall have the free and
        unfettered right to conclude licensing transactions for the Technology in
        any
        other area, state or country outside the Territory without first offering
        the
        opportunity to Licensee.

      

      Nothing
        shall prevent Titan from negotiating or completing a merger, consolidation,
        reorganization or similar transaction with a third party that desires to
        purchase tire recycling or other technologies owned or controlled by Titan,
        so
        long as the terms and obligations owed by Titan to Ally under this Agreement
        are
        not modified.

      

      C.     Titan
        and
        Ally mutually acknowledge and agree that Titan shall be free and unencumbered
        to
        pursue other opportunities outside the Territory covered by this
        License.

      

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      III.
        GENERAL PROVISIONS

       

      A.    Titan
        represents that its technology includes the above described patents and other
        trade secrets and know how with respect to the Technology.

       

      B.     Titan
        and
        Ally shall use reasonable efforts to ensure that Titan’s patent rights are
        protected and enforced within the Territory covered by the License. Titan
        shall
        retain exclusive ownership of the Technology, including the patent and patent
        rights. In addition, all proprietary rights to design, know-how, copyright
        or
        improvements or modifications to the process or processes shall remain or
        become
        the exclusive property of Titan, and Ally agrees to execute such documents
        as
        may be required from time to time to assign and transfer to Titan such rights
        at
        no further costs or fees to Titan.

      

      C.    Titan
        shall exclusively be entitled to apply for and register any patents or patent
        improvements arising out of this Agreement or definitive Agreements hereafter
        with respect to the Technology, and Ally shall sign all necessary applications
        or otherwise provide its approval with respect to any such applications or
        registrations. Ally shall similarly assist Titan in protecting its patent
        rights
        or proprietary knowledge within the scope of the License and this
        Agreement.

      

      D.    All
        prior agreements
        signed by the parties prior to this Agreement are hereby null and void, except
        for the document entitled Confidentiality and Non-Circumvention Agreement,
        which
        is attached hereto as Exhibit A (and by this reference made a part hereof),
        which shall survive any termination of this Agreement.

      

      E.    This
        transaction will be effective when signed by all parties hereto. Each party
        states that it has adopted the appropriate corporate resolutions authorizing
        adoption and completion of this transaction and that the persons signing
        for
        each corporation have the requisite corporate authorization and capacity
        to sign
        this Agreement

      

      IV.
        TERMINATION

       

          This
        Agreement shall terminate upon the occurrence of the following
        events:

      

      
        	
              	(i)	
                Failure
                  of Ally to make any of the payments required in this Agreement
                  on or
                  before the dates provided for said payments herein, unless such
                  failure is
                  cured within Fifteen (15) business days following the date written
                  notice
                  by Titan that any such payment has not been received is delivered
                  to Ally
                  at the address below, or such other address provided to Titan by
                  Ally.
                  

              

      

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

      
        	
              	(ii)	
                By mutual
                  agreement of the parties; or

              

      

      

      
        	
              	(iii)	
                In
                  the event any Plant is constructed and operated, this Agreement
                  shall
                  terminate as to any such plant upon the permanent cessation of
                  operations
                  of said Plant and the winding up of
                  all matters in connection with the cessation of
                  operations

              

      

       

      V.
        ARBITRATION AND GOVERNING LAW

      

      This
        Agreement is governed by the laws of the State of New Mexico. Any disputes
        concerning this Agreement shall be exclusively and finally settled by
        arbitration in accordance with the provisions of the Uniform Arbitration
        Act as
        in effect in the State of New Mexico with venue lying in Albuquerque, New
        Mexico. Provided, however, that nothing contained herein shall be deemed
        to
        restrict the right of Titan to seek other remedies in any jurisdiction of
        its
        choosing in the event that any such dispute re1ates to alleged violation
        of the
        Confidentiality and Non- Circumvention Agreement attached hereto as Exhibit
        A.

      

      VI..
        NOTICES

      

      Notices
        hereunder shall be given in writing and addressed to the parties at the
        respective addresses set forth on the first page of this Agreement.Notices
        shall
        not be effective unti1 receipt has been confirmed to the Party sending the
        notice. Provided, however, that notices hereunder shall a1so be effective
        if
        personally delivered to an officer of the recipient or given by facsimile
        copier
        with receipt confirmed. For purposes of this Article, the facsimi1e copier
        number of Titan is (505) 881-71l3 (Attention: Mr. Ron Wi1der) and the telephone
        number for Ally is 409-651-5605 and the fax address for Ally is 409 722-4010
        and
        by mail to Ally at 2501 Jimmy Johnson Blvd., Suite 201, Port Arthur, TX 77640,
        Port Arthur, Texas. 

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      VII.
        AMENDMENTS

      

      The
        parties may amend this Agreement by a writing signed by both parties.

      

      In
        witness whereof, the parties have executed this Agreement this 23rd day of
        August, 2006.

      

      TITAN
        TECHNOLOGIES, INC.

       

      
        	 	 	 	 	 
	 By:	/s/ Ronald
                L. Wilder	 	 	 
	 	
                

                Ronald L. Wilder,President
	 	 	
              
	 	
              	 	 	
              

      

             
        

            

         

        
          	 	 	 	 	 
	 By:	/s/ Saeed
                  A. Ally, M.D.	 	 	 
	
                   

                  Name:

                	
                  
                    

                  

                   Saeed
                    A. Ally, M.D., 

                  Managing
                    General Partner 

                  Licensee
Ally
                    Investment, LLP, 

                  A
                    Texas limited liability partnershipExhibit
4.1

AMENDMENT NO. 1

TO AMENDED AND RESTATED

LOAN AND SECURITY AGREEMENT

AMENDMENT NO. 1 TO
AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (“this Amendment”),
dated as of August 21, 2006, to that certain Amended and Restated Loan and
Security Agreement dated as of August 18, 2005 (as further amended, restated,
supplemented or otherwise modified from time to time, the “Loan Agreement”)
among the lending institutions party thereto from time to time (each a “Lender”
and collectively the “Lenders”), Ahern Rentals, Inc. (the “Borrower”),
each of the Borrower’s subsidiaries party thereto from time to time that become
borrowers thereunder with the prior written consent of all the Lenders, Bank of
America, N.A., in its capacity as administrative agent for the Lenders (in such
capacity, the “Administrative Agent”), Wachovia Bank, National
Association, as collateral agent for the Lenders (in such capacity, the “Collateral
Agent”), and each of the other Obligated Parties (as defined therein) party
thereto from time to time.

WHEREAS, the Borrower, the Lenders, the Administrative Agent and the
Collateral Agent desire to amend a provision of the Loan and Security
Agreement;

NOW, THEREFORE, subject to the condition precedent set forth in Section
3 hereof, the Borrower, the Lenders, the Administrative Agent and the
Collateral Agent hereby agree as follows:

SECTION 1.           CAPITALIZED TERMS.  Capitalized terms used but not defined herein
shall have the respective meanings set forth in the Loan and Security
Agreement.

SECTION 2.           AMENDMENTS TO LOAN AND SECURITY
AGREEMENT.

2.1           Section 1.1
of the Loan Agreement is hereby amended by deleting the pricing grid contained
in the definition of “Applicable Margin” and replacing it with the following:

	
  Leverage Ratio

  	
   

  	
  Base Rate Revolving

  Loans and other

  Obligations (other than

  LIBOR Rate Revolving

  Loans)

  	
   

  	
  LIBOR Rate

  Revolving Loans

  	
   

  
	
  greater than 4.75:1.00

  	
   

  	
  .500

  	
  %

  	
  2.250

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.75:1.00 to 3.50:1.00

  	
   

  	
  .250

  	
  %

  	
  2.000

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  less than 3.50:1.00

  	
   

  	
  .000

  	
  %

  	
  1.750

  	
  %

  

 

 

 

2.2           Section
1.1 of the Loan Agreement is hereby further amended by deleting the
definition of “Maximum Revolver Amount” and shall be replaced with the
following:

“‘Maximum
Revolver Amount’ means $250,000,000 as such amount shall be increased by
the aggregate amount of Incremental Commitments, if any, and as reduced in
accordance with Section 4.3(f).”

2.3           Section
1.1 of the Loan Agreement is hereby further amended by deleting the
definition of “Stated Termination Date” and shall be replaced with the following:

“‘Stated
Termination Date’ means August 21, 2011.”

2.4           Schedule
1.1(A) of the Loan Agreement is replaced with the Schedule 1.1(A)
attached hereto as Annex A.

2.5           Section
10.6(b) of the Loan Agreement is hereby amended by deleting such provision
and replacing it with the following:

“(b)  Collections.  Each Obligated Party shall collect its
Accounts and other Collateral in the ordinary course of its business consistent
with past practice. Each Obligated Party shall promptly (in any event within
one Business Day of receipt thereof) deposit all such payments (except as
permitted in clause (c) below) and receipts, and all other proceeds of
Collateral received by it, in their original form, duly endorsed in blank (if
applicable) into a Clearing Account or deliver such payments and receipts to
the Collateral Agent in their original form, duly endorsed in blank (if
applicable), as either of the Agents may direct. Each Obligated Party shall
receive any and all proceeds of Accounts and other Collateral as the Collateral
Agent’s trustee. All collections received directly by any Obligated Party or
either Agent, and all funds in any Clearing Account or other account to which
such collections are deposited shall be subject to the Collateral Agent’s
control, but shall be available to such Obligated Party at its discretion
unless and until the occurrence of a Trigger Event. Following the occurrence of
a Trigger Event, all collections received directly by any Obligated Party or
either Agent, and all funds in any Clearing Account or other account to which
such collections are deposited shall be subject to the Collateral Agent’s sole
control and withdrawals by any Obligated Party shall not be permitted.”

 2
 

 

 

SECTION 3.           EFFECTIVENESS.  This Amendment shall become effective on such
date (the “Effective Date”) that:

(1)           counterparts of this Amendment
executed by the Borrower, the Lenders, the Administrative Agent and the
Collateral Agent shall have been delivered to the Administrative Agent;

(2)           the Administrative Agent shall have
received the fees set forth in the letter agreements dated as of the date
hereof supplementing the Fee Letters;

(3)           the Agents shall have received signed
opinions of counsel for the Obligated Parties, opining as to such matters in
connection with the transactions contemplated by this Amendment as either of
the Agents may reasonably request, each such opinion to be in form, scope, and
substance satisfactory to the Agents, the Lenders, and their respective
counsel; and

(4)           the Agents shall have received a certificate
of the secretary, general partner, or comparable authorized representative of
each Obligated Party certifying that (A) the copy of its Management Agreement
attached to the certificate of its secretary, general partner, or comparable
authorized representative delivered on the Closing Date is a true and complete
copy of its Management Agreement as in effect on the date of the certificate
delivered pursuant to this subsection and such Management Agreement has not
been amended since the Closing Date, (B) a true and complete copy of duly
approved Resolutions authorizing the execution, delivery and performance of
this Amendment are attached thereto and that such Resolutions have not been
modified, rescinded or amended and are in full force and effect, (C) its
Organizational Certificate has not been amended since the date of the last
amendment thereto shown on the certificate of good standing from the
appropriate Governmental Authority of the jurisdiction of such Obligated Party’s
formation, incorporation, or organization (as applicable) delivered on the
Closing Date, and (D) the individuals executing this Amendment or any other
document to which it is a party delivered in connection herewith or therewith
are the incumbent officers and their signatures are as set forth thereto.

SECTION 4.           COUNTERPARTS.  This Amendment may be executed in
counterparts, each of which shall be an original, and all of which, taken
together, shall constitute a single instrument.

SECTION 5.           GOVERNING
LAW.  THIS AMENDMENT SHALL BE INTERPRETED
AND THE RIGHTS AND LIABILITIES OF THE PARTIES HERETO DETERMINED IN ACCORDANCE
WITH THE INTERNAL LAWS (AS OPPOSED TO THE CONFLICT OF LAWS PROVISIONS) OF THE
STATE OF NEW YORK.

SECTION 6.           REFERENCES TO LOAN AND SECURITY
AGREEMENT.  From and after the
effectiveness of this Amendment and the amendments contemplated hereby, all
references in the Loan Agreement to “this Agreement”, “hereof”, “herein”, and
similar terms

 3
 

 

 

shall mean and
refer to the Loan and Security Agreement, as amended and modified by this
Amendment, and all references in other documents to the Loan Agreement shall
mean such agreement as amended and modified by this Amendment.

SECTION 7.           RATIFICATION
AND CONFIRMATION.  The Loan Agreement is
hereby ratified and confirmed and, except as herein agreed, remains in full
force and effect. The Borrower represents and warrants that (i) all
representations and warranties contained in the Loan Documents are correct in
all material respects with the same effect as though such representations and warranties
had been made on and as of the date hereof (except to the extent that such
representations or warranties expressly related to a specified prior date, in
which case such representations and warranties shall be correct in all material
respects as of such specified prior date), (ii) there exists no Default or
Event of Default and (iii) since the Closing Date, no event has occurred, and
no circumstances exist, that have resulted in, or could reasonably be expected
to result in, a Material Adverse Effect.

SECTION 8.           SETTLEMENT OF
OUTSTANDING REVOLVING LOANS. 
Notwithstanding Section 13.2 of the Loan Agreement, the Agents, the
Lenders and the Borrower hereby agree that the Administrative Agent will effect
a settlement on or about the Effective Date of all outstanding Revolving Loans
among the Lenders that will reflect the adjustments to the Commitments of
certain of the Lenders resulting from the replacement of Schedule 1.1(A) to the
Loan Agreement (Commitments) with a new schedule as contemplated by Section 2.4
of this Amendment such that immediately after giving effect to such settlement
each Lender shall have a Pro Rata Share of the outstanding Revolving Loans. Any
interest, fees and other payments accrued to the date of such settlement with
respect to the interests and obligations of any Revolving Loans of a Lender
transferred by such Lender in accordance with such settlement shall be for the
account of the transferring Lender. Any interest, fees and other payments
accrued on and after the date of such settlement with respect to the interests
and obligations acquired by a Lender hereunder as a result of such settlement
shall be for the account of the acquiring Lender. Each Lender agrees to
cooperate with the Administrative Agent in effecting such settlement
(including, without limitation, promptly paying to the Administrative Agent a
sum equal to the amount, if any, of Revolving Loans transferred to such Lender
as a result of such settlement).

[Remainder of page
intentionally left blank]

 4

 

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

	
   

  	
  OBLIGATED PARTIES:

  
	
   

  	
   

  
	
   

  	
  AHERN RENTALS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ HOWARD BROWN

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Howard Brown

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Chief Financial
  Officer

  	
   

  
	
   

  	
   

  
	
   

  	
  ADMINISTRATIVE AGENT:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N. A.,

  
	
   

  	
  as Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROBERT SCALZITTI

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Robert Scalzitti

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COLLATERAL AGENT:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WACHOVIA BANK, NATIONAL ASSOCIATION,

  
	
   

  	
  as Collateral Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JEFFREY SCOTT

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Jeffrey Scott

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  LENDERS:

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROBERT SCALZITTI

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Robert Scalzitti

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
						

 

	
  

  	
  WACHOVIA BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JEFFREY SCOTT

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Jeffrey Scott

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  KEYBANK NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRIS MOHLER

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Chris Mohler

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PNC BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ EVAN ZWERMAN

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Evan Zwerman

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL RODGERS

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Rodgers

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE CIT GROUP/BUSINESS CREDIT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JANG KIM

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Jang Kim

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
						

 

	
  

  	
  GMAC COMMERCIAL FINANCE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ WAKEFIELD SMITH

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Wakefield Smith

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
						

 

ANNEX A

Schedule
1.1.(A)

Commitments

	
  Lender

  	
   

  	
  Commitment

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
  $

  	
  60,000,000

  	
   

  
	
  Wachovia Bank, National
  Association

  	
   

  	
  $

  	
  50,000,000

  	
   

  
	
  KeyBank National
  Association

  	
   

  	
  $

  	
  30,000,000

  	
   

  
	
  PNC Bank, National
  Association

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  Comerica Bank

  	
   

  	
  $

  	
  25,000,000

  	
   

  
	
  The CIT Group/Business
  Credit, Inc.

  	
   

  	
  $

  	
  40,000,000

  	
   

  
	
  GMAC Commercial Finance
  LLC

  	
   

  	
  $

  	
  20,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  $

  	
  250,000,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]