Document:

EX-10.1

    SIXTH
      AMENDMENT TO CREDIT AGREEMENT

    

    This
      SIXTH AMENDMENT TO CREDIT AGREEMENT (the “Sixth Amendment”) dated January
      11, 2007, is by and among ePlus inc., a Delaware corporation (“ePlus”), the
      Subsidiaries of ePlus signatory hereto (including ePlus, each individually
      a
“Borrower” and collectively, the “Borrowers”), the Banks signatory hereto (the
“Banks”), and National City Bank, as Administrative Agent for the Banks (the
“Administrative Agent”).

    

    BACKGROUND

     

    A.  Pursuant
      to that certain Credit Agreement dated
      September
      23,
      2005,
      by and
      among the Borrowers, the Banks, and the Administrative Agent, as amended by
      a
      First Amendment to Credit Agreement, dated July 11, 2006, a Second Amendment
      dated July 28, 2006, a Third Amendment dated August 30, 2006, a Fourth Amendment
      dated September 27, 2006, and a Fifth Amendment dated November
      15, 2006 (as the same may be modified and amended from time to time,
      including by this Sixth Amendment, the “Credit Agreement”), the Banks agreed,
inter
      alia,
      to
      extend to the Borrowers a revolving credit facility in the maximum aggregate
      principal amount of $35,000,000.

    

    B.  The
      Borrowers did not deliver the following documents as required by Section 5.1
      of
      the Credit Agreement (a) their annual audited financial statements prior to
      May
      31, 2006, (b) their “Projections” for 2007 prior to June 30, 2006, and (c)
      Financial Statements (Quarterly), for the periods ending June 30, 2006 and
      September 30, 2006 (collectively, the “Waived Delivery Event”), which events
      were waived through January 15, 2007, pursuant to the Fifth Amendment, and
      have advised the Banks that they will be unable to deliver such items in the
      timeframe set forth in the Fifth Amendment.

     

    C.  The
      Borrowers have requested an extension of the delivery date requirements for
      the
      Waived Delivery Event, to which the Banks are willing to agree, on the terms
      and
      subject to the conditions set forth herein.

    

    NOW,
      THEREFORE, in consideration of the foregoing premises and for other good and
      valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, and intending to be legally bound hereby, the parties hereto
      agree
      as follows:

    

    1.  Definitions.
      

    

    (a)  General
      Rule.
      Except
      as expressly set forth herein, all capitalized terms used and not defined herein
      shall have the respective meanings ascribed thereto in the Credit Agreement.
      

    

    (b)  Additional
      Definition.
      The
      following additional definition shall be added to Article 1 of the Credit
      Agreement to read in its entirety as follows:

    

    “Sixth
      Amendment”
means
      the Sixth Amendment to this Agreement dated January 11, 2007.

    

    2.  Representations
      and Warranties.
      Each
      Borrower hereby represents and warrants to the Administrative Agent and each
      Bank that, except as to the Waived Delivery Event, as to such
      Borrower:

    

    (a)  Representations.
      each of
      the representations and warranties of such Borrower contained in the Credit
      Agreement and/or the other Loan Documents are true, accurate and 

     

    
      
        
        

      

      
        
        

        
        

      

      
        
        
correct
        in all material respects on and as of the date hereof as if made on and as
        of
        the date hereof, except to the extent such representation or warranty was
        made
        as of a specific date;

    

    

    (b)  Power
      and Authority.
      (i)
      such Borrower has the power and authority under the laws of its jurisdiction
      of
      organization and under its organizational documents to enter into and perform
      this Sixth Amendment and any other documents which the Banks require such
      Borrower to deliver hereunder (this Sixth Amendment and any such additional
      documents delivered in connection with the Sixth Amendment are herein referred
      to as the “Amendment Documents”); (ii) such Borrower is in good standing in its
      jurisdiction of organization and each additional jurisdiction in which it is
      required to be so qualified; and (iii) all actions, corporate or otherwise,
      necessary or appropriate for the due execution and full performance by the
      Borrower of the Sixth Amendment have been adopted and taken and, upon their
      execution, the Credit Agreement, as amended by this Sixth Amendment will
      constitute the valid and binding obligations of the Borrower enforceable in
      accordance with their respective terms;

    

    (c)  No
      Violations of Law or Agreements.
      the
      making and performance of the Sixth Amendment will not violate any provisions
      of
      any law or regulation, federal, state, local, or foreign, or the organizational
      documents of such Borrower, or result in any breach or violation of, or
      constitute a default or require the obtaining of any consent under, any
      agreement or instrument by which such Borrower or its property may be
      bound;

    

    (d)  No
      Default.
      except
      as is waived hereby, no Default or Event of Default has occurred and is
      continuing; and

    

    (e)  No
      Material Adverse Effect.
      No
      Material Adverse Effect has occurred since September 23, 2005.

    

    3.  Conditions
      to Effectiveness of Amendment.
      This
      Sixth Amendment shall be effective upon the Administrative Agent’s receipt of
      the following, each in form and substance reasonably satisfactory to the
      Banks:

     

                  
      (a)        Sixth Amendment.
      this Sixth Amendment, duly executed by the Borrowers and the Banks;

     

                  
      (b)  Consent
      and Waivers.
      copies
      of any consents or waivers necessary in order for the Borrowers to comply with
      or perform any of its covenants, agreements or obligations contained in any
      agreement, which are required as a result of the Borrowers’ execution of this
      Sixth Amendment, if any; and

     

    (c)  Other
      Documents and Actions.
      such
      additional agreements, instruments, documents, writings and actions as the
      Banks
      may reasonably request.

    

    4.  Limited
      Consent; Ratification.
      Subject
      to the terms and conditions of this Sixth Amendment, the Banks and
      Administrative Agent hereby consent to an extension of the delivery date for
      each of the deliveries described in the definition of  the Waived Delivery
      Event, to a date not later than March 15, 2007. Except as stated in the
      preceding sentence, the execution, delivery and performance of this Sixth
      Amendment shall not operate as a waiver of any right, power or remedy of the
      Administrative Agent or the Banks under the Credit Agreement or any Loan
      Document, or constitute a waiver of any provision thereof. Except as expressly
      modified hereby, all terms, conditions and provisions of the Credit Agreement
      and the other Loan Documents shall remain in full force and effect and are
      hereby ratified and confirmed by any Borrower. Nothing contained herein
      constitutes an agreement or obligation by the Administrative Agent or any Bank
      to grant any further amendments to any of the Loan Documents.

    
      
        
        

      

      
        
        

        
        

      

      
        
        

      

    

    5.  Acknowledgments.
      To
      induce the Banks to enter into this Sixth Amendment, each Borrower acknowledges,
      agrees, warrants, and represents that:

    

    (a)  Acknowledgment
      of Obligations; Collateral; Waiver of Claims.
      (i) the
      Loan Documents are valid and enforceable against, and all of the terms and
      conditions of the Loan Documents are binding on, the Borrowers; (ii) the liens
      and security interests granted to the Administrative Agent by the Borrowers
      pursuant to the Loan Documents are valid, legal and binding, properly recorded
      or filed and first priority perfected liens and security interests; and (iii)
      the Borrowers hereby waive any and all defenses, set-offs and counterclaims
      which they, whether jointly or severally, may have or claim to have against
      the
      Administrative Agent or any Bank as of the date hereof.

    

    (b)  No
      Waiver of Existing Defaults.
      Other
      than the Delivery Event, no Default or Event of Default exists immediately
      before or immediately after giving effect to this Sixth Amendment. Nothing
      in
      this Sixth Amendment nor any communication between the Administrative Agent,
      any
      Bank, any Borrower or any of their respective officers, agents, employees or
      representatives shall be deemed to constitute a waiver of (i) any Default or
      Event of Default arising as a result of the foregoing representation proving
      to
      be false or incorrect in any material respect; or (ii) any rights or remedies
      which the Administrative Agent or any Bank has against any Borrower under the
      Credit Agreement or any other Loan Document and/or applicable law, with respect
      to any such Default or Event of Default arising as a result of the foregoing
      representation proving to be false or incorrect in any material
      respect.

    

    6.  Binding
      Effect.
      This
      Sixth Amendment shall be binding upon and inure to the benefit of the parties
      hereto and their respective successors and assigns.

    

    7.  Governing
      Law.
      This
      Sixth Amendment and all rights and obligations of the parties hereunder shall
      be
      governed by and be construed and enforced in accordance with the laws of the
      Commonwealth of Pennsylvania without regard to Pennsylvania or federal
      principles of conflict of laws.

    

    8.  Headings.
      The
      headings of the sections of this Sixth Amendment are inserted for convenience
      only and shall not be deemed to constitute a part of this Sixth
      Amendment.

    

    9.  Counterparts.
      This
      Sixth Amendment may be executed in any number of counterparts with the same
      affect as if all of the signatures on such counterparts appeared on one document
      and each counterpart shall be deemed an original.

      
        
           

        

        
          
          

          
          

        

        
          
          

        

      

    

    IN
      WITNESS WHEREOF, the Borrowers have caused this Sixth Amendment to Credit
      Agreement to be executed under seal by their duly authorized officers, all
      as of
      the day and year first written above.

     

    ePLUS
      inc.

     

    By:
/s/
      Kleyton L. Parkhurst

    Name:
      Kleyton
      L. Parkhurst

    Title:
      Senior
      Vice President

     

    ePLUS
      Group, inc.

     

    By:
/s/
      Kleyton L. Parkhurst

    Name:
      Kleyton
      L. Parkhurst

    Title:
      Senior
      Vice President

     

    ePLUS
      Government, inc.

     

    By:
/s/
      Kleyton L. Parkhurst

    Name:
      Kleyton
      L. Parkhurst

    Title:
      Senior
      Vice President

     

    ePLUS
      Capital, inc.

     

    By:
/s/
      Kleyton L. Parkhurst

    Name:
      Kleyton
      L. Parkhurst

    Title:
      President

     

    
      
         

        

        
        

      

      
        
        

        
        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Administrative Agent and the Banks have caused
      this Sixth Amendment to Credit Agreement to be executed under seal by their
      duly
      authorized officers, all as of the day and year first written
      above.

    NATIONAL
      CITY BANK

     

    By:
      /s/ Michael J. Labrum       

    Name:
      Michael
      J. Labrum

    Title:
      Senior
      Vice President

    

     

    BRANCH
      BANKING AND TRUST COMPANY OF VIRGINIA

     

    By:
/s/
      Ronald Gudbrandsen      

    Name:
      Ronald
      Gudbrandsen

    Title:
      Senior
Vice
      President 

     

     

                                                                                                                
      -5-Exhibit 10.24.1

    
      

      

    

     

    RESTRICTED
      STOCK AWARD AGREEMENT

    

    

    

    

    THIS
      RESTRICTED STOCK AWARD AGREEMENT (the "Agreement") is entered into as of the
       _
      day of
      ___________,
      _____,
      by and
      between Urstadt Biddle Properties Inc., a Maryland corporation (the "Company"),
      and ______________________,
      a
      Director of the Company (the "Participant"). 

    

    WITNESSETH:

    

    WHEREAS,
      the Company has adopted, through appropriate action of its Board of Directors
      and its shareholders, the Urstadt Biddle Properties Inc. Amended and Restated
      Restricted Stock Award Plan (the "Plan"); and

    

    WHEREAS,
      the Company desires to grant a Restricted Stock Award to the Participant under
      the Plan on the terms and conditions hereinafter set forth; and

    

    WHEREAS,
      the Participant desires to accept such Restricted Stock Award from the Company
      subject to the terms and conditions of this Agreement and the Plan;

    

    NOW,
      THEREFORE, in consideration of the promises and the mutual covenants hereinafter
      contained, and other good and valuable consideration, receipt of which is hereby
      acknowledged, the Company and the Participant do mutually covenant and agree
      as
      follows:

    

    

    1. Grant
      of Restricted Stock. Subject to the terms and conditions hereinafter set
      forth, the Participant is hereby granted a Restricted Stock Award of
      (                  
 ) Common Shares, par value $.01 per share, and 
(          ) Class A Common Shares,
      par value $.01 per share, of the Company (collectively the "Restricted Stock").
      

    

    2.  Issuance
      of Restricted Stock.
      The
      number of shares of Restricted Stock granted under Section 1 hereof shall be
      recorded on the books of the Company in the name of the Participant. The Company
      shall instruct its stock transfer agent to place a stop transfer order on the
      Restricted Stock until such time as the Restrictions thereon shall lapse. In
      the
      event that the Participant shall forfeit all or any portion of the Restricted
      Stock, the shares which are forfeited automatically shall be transferred back
      to
      the Company.

    

    3.  Vesting.
      The
      Participant shall vest in the Restricted Stock Award granted hereunder, and
      all
      Restrictions thereon shall lapse, upon the fifth anniversary of the date of
      grant hereunder if the Participant is still a Director of the Company on that
      date. Except as provided in Paragraph 4(b) and (c) below, prior to such fifth
      anniversary, no portion of the Restricted Stock Award shall be
      vested.

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

    

    4. Termination
      as a Director.
      

    

    In
      the
      event that during the term of the Restricted Period the Participant’s status as
 a
      non-employee Director of the Company terminates:

     

    
      	(a)  	
              for
                any reason other than death, Disability or Retirement, the Participant
                shall forfeit any and all Restricted Stock Awards whose Restrictions
                have
                not lapsed; or,

            

    

    

    
      	(b)  	
              by
                reason of death or Disability, the Restrictions on any and all Awards
                shall lapse on the date of such termination;
                or,

            

    

     

    
      	(c)  	
              by
                reason of Retirement, all Awards shall continue to vest as if Retirement
                had not occurred until such time as the Restrictions lapse; provided,
                however, that (1) if Retirement occurs prior to the fifth anniversary
                of
                the date of this Award, then the total number of shares subject to
                this
                Award shall be reduced to an amount equal to the total number of
                shares
                subject to this Award multiplied by a fraction, the numerator of
                which
                shall be equal to the number of months or partial months that have
                elapsed
                between the date of the Award and the date of Retirement and the
                denominator of which shall be sixty (60), and (2) if the retired
                Participant, prior to the completion of any or all Restricted Periods,
                accepts employment or provides services to any organization other
                than the
                Company that is engaged primarily in the ownership and/or management
                or
                brokerage of shopping centers in The New York - Northern New Jersey
                - Long
                Island, NY-NJ-CT-PA, Metropolitan Statistical Area as defined by
                the
                Bureau of Labor Statistics, the Participant will forfeit any and
                all
                Restricted Stock Awards whose Restrictions have not
                lapsed.

            

    

     

    5. Forfeiture.
      All
      shares of non-vested Restricted Stock shall be automatically forfeited to the
      Company if the Board of Directors of the Company determines that the Participant
      has breached a material contract obligation to the Company, including without
      limitation, material provisions in any confidentiality agreement.

    

    6. Rights
      to Dividends.
      Subject
      to the terms and conditions hereof, during the Restricted Period the Participant
      shall have the right to receive any dividends declared and other distributions
      paid with respect to the shares of Restricted Stock as such are declared and
      paid to shareholders with respect to Common Shares and Class A Common Shares
      of
      the Company generally.

    

    7. Withholding
      Tax Liability.
      The
      Company shall have the right to withhold any income or other taxes due upon
      transfer of shares to the Participant or the lapse of Restrictions, including
      the right to withhold shares or sell shares where appropriate.

    

    

     

    8. Transfer
      Restrictions.
      Except
      as provided by the resolutions adopted by the Compensation Committee of the
      Board of Directors of the Company on November 6, 2002 (the “Resolutions”), the
      shares of Restricted Stock may not be transferred, assigned, pledged,
      hypothecated or otherwise encumbered, and shall not be subject to execution,
      attachment, garnishment or other similar legal processes. In the event of a
      permitted Assignment pursuant to the Resolutions, the Restricted Stock Award
      shall continue to be subject to all other terms and conditions set forth in
      this
      Agreement. Except as aforesaid, upon any attempt to transfer, assign, pledge,
      hypothecate or otherwise encumber or dispose of such shares, the shares
      immediately shall be forfeited to the Company.

     

    9. Construction;
      No Contract of Continuing Engagement.
      Nothing
      contained in this Agreement, nor the granting of the Restricted Stock Award
      hereunder, shall be construed as giving the Participant or any other person
      any
      legal or equitable rights against the Company or any subsidiary or any director,
      officer, employee or agent thereof, except for those rights as are herein
      provided. Under no circumstances shall this Agreement be construed as an express
      or implied agreement that the Participant shall continue as a Director of the
      Company, nor shall the Restricted Stock Award granted hereunder in any manner
      obligate the Company, or any subsidiary or affiliate of the Company, to continue
      such relationship with the Participant.

    

    10. Miscellaneous.
      This
      Agreement is subject to the terms and conditions of the Plan, as the Plan may
      be
      from time to time amended. The provisions of the Plan are incorporated herein
      by
      reference, and the capitalized terms used but undefined herein shall have the
      same meanings as set forth in the Plan. The Participant acknowledges receipt
      of
      a copy of the Plan and agrees to be bound by all the terms and provisions
      thereof. Any inconsistency between this Agreement and the Plan shall be resolved
      in favor of the Plan.

    

    

    

    URSTADT
      BIDDLE PROPERTIES INC.

    

    

    

    By________________________________

    Name:  

    Title:  

    

    

    

    PARTICIPANT

    

    ___________________________________

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