Document:

EX-10.40

 Exhibit 10.40 
 SECOND AMENDMENT TO CREDIT AGREEMENT 
 THIS SECOND AMENDMENT TO CREDIT
AGREEMENT (this “Amendment”) is made and entered into as of February 24, 2014, by and among MARCHEX, INC., a Delaware corporation (“Borrower”), the several banks and other financial institutions or entities from time to
time parties to this Agreement (“Lenders”), and U.S. BANK NATIONAL ASSOCIATION, as administrative agent (“Administrative Agent”). 
 RECITALS 
 A. On or about April 1, 2008, Borrower, Lenders and
Administrative Agent entered into that certain Credit Agreement (together with all amendments, supplements, exhibits, and modifications thereto, the “Credit Agreement”) whereby Lenders agreed to make available to Borrower the credit
facilities described therein. 
 B. Borrower has requested Lenders to (1) extend the maturity date of the Revolving Loans
(as defined in the Credit Agreement) and (2) modify certain other provisions of the Credit Agreement. The purpose of this Amendment is to set forth the terms and conditions upon which Lenders will grant Borrower’s requests. 

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, the parties agree as follows: 

 

	ARTICLE I.	AMENDMENT 

 The Credit
Agreement and all of the other Loan Documents are each hereby amended as set forth herein. Except as specifically provided for herein, all of the terms and conditions of the Credit Agreement and each of the other Loan Documents shall remain in full
force and effect throughout the terms of the loans described therein, as well as any extensions or renewals thereof. 
  

	ARTICLE II.	DEFINITIONS; MODIFICATIONS 

As used herein, capitalized terms shall have the meanings given to them in the Credit Agreement, except as otherwise defined herein, or as
the context otherwise requires. Section 1.1 of the Credit Agreement is hereby amended to add or modify (as the case may be) the following defined term: 
 “Revolving Termination Date” means the earlier of (a) April 1, 2017 or (b) the date that all Obligations are paid in full and the Revolving Commitments are terminated. 

	ARTICLE III.	MODIFICATIONS TO CREDIT AGREEMENT 

  

	 	3.1	Fees and Other Charges 

Section 3.3 of the Credit Agreement is hereby amended in its entirety to read as follows: 

 

	 	3.3	Fees and Other Charges 

 (a) Borrower will pay a fee for each standby Letter of Credit at a per annum rate equal to the “Applicable Margin” then in effect under the Revolving Facility of the face amount of each standby
Letter of Credit (provided that the minimum fee shall be $300), to be shared ratably among Lenders and payable quarterly in arrears on each Fee Payment Date after the issuance date. In addition, in the event that there is more than one Lender at the
time a standby Letter of Credit is issued, Borrower shall pay to Issuing Lender for its own account a fronting fee at a per annum rate of 0.125 percent of the undrawn and unexpired amount of each Letter of Credit issued by Issuing Lender, payable
quarterly in arrears on each Fee Payment Date after the issuance date. 
 (b) Borrower will pay a fee for each
commercial Letter of Credit at a rate equal to Issuing Lender’s standard pricing for commercial Letters of Credit then in effect based upon the face amount of each commercial Letter of Credit, to be shared ratably among Lenders and payable
quarterly in arrears on each Fee Payment Date after the issuance date. In addition, in the event that there is more than one Lender at the time a commercial Letter of Credit is issued, Borrower shall pay to Issuing Lender for its own account a
fronting fee at a per annum rate of 0.125 percent of the undrawn and unexpired amount of each Letter of Credit issued by Issuing Lender, payable quarterly in arrears on each Fee Payment Date after the issuance date. 

(c) In addition to the foregoing fees, Borrower shall pay or reimburse Issuing Lender for such normal and customary costs
and expenses as are incurred or charged by Issuing Lender in issuing, negotiating, effecting payment under, amending or otherwise administering any Letter of Credit. 
  

	 	3.2	Financial Condition Covenant 

 Effective as of April 1, 2014, the liquidity covenant set forth in Section 7.1(c) of the Credit Agreement is hereby deleted in its entirety. 

 

	ARTICLE IV.	CONDITIONS PRECEDENT 

 The
modifications set forth in this Amendment shall not be effective unless and until the following conditions have been fulfilled to Administrative Agent’s satisfaction: 
 (a) Administrative Agent shall have received this Amendment, duly executed and delivered by the parties hereto and duly acknowledged by each Guarantor. 

 (b) All representations and warranties of Borrower contained in the Credit Agreement and the
other Loan Documents or otherwise made in writing in connection therewith or herewith shall be true and correct and in all material respects have the same effect as though such representations and warranties had been made on and as of the date of
this Amendment (other than those representations and warranties that relate to a specific prior date, in which case such representations and warranties shall be true and correct in all material respects as of such specific prior date). 

 

	ARTICLE V.	GENERAL PROVISIONS 

  

	 	5.1	Representations and Warranties 

 Borrower hereby represents and warrants to Administrative Agent that as of the date of this Amendment there exists no Default or Event of Default. All representations and warranties of Borrower contained
in the Credit Agreement and the other Loan Documents, or otherwise made in writing in connection therewith, are true and correct as of the date of this Amendment (other than those representations and warranties that relate to a specific prior date,
in which case such representations and warranties shall be true and correct in all material respects as of such specific prior date). Borrower acknowledges and agrees that all of Borrower’s Indebtedness to Lenders is payable without offset,
defense, or counterclaim. 
  

	 	5.2	Security 

 All Loan
Documents evidencing Lenders’ security interest in the Collateral shall remain in full force and effect without change in priority, and shall secure the payment and performance of the Loans, as amended herein, and any other Indebtedness owing
from Borrower to Lenders. 
  

	 	5.3	Guaranty 

 The parties
hereto agree that all guaranties guaranteeing repayment of the Revolving Loans and all of Borrower’s obligations to Administrative Agent, Lenders and Issuing Lender under the Revolving Facility, as amended by this Amendment, remain in full
force and effect and are enforceable without defense, offset, or counterclaim. 
  

	 	5.4	Payment of Expenses 

Borrower shall pay on demand all costs and expenses of Administrative Agent incurred in connection with the preparation, negotiation,
execution, and delivery of this Amendment, including, without limitation, reasonable attorneys’ fees incurred by Administrative Agent. 
  

	 	5.5	Survival of Credit Agreement 

 The terms and conditions of the Credit Agreement and each of the other Loan Documents shall survive until all of Borrower’s obligations under the Credit Agreement are satisfied in full. 

	 	5.6	Counterparts 

 This
Amendment may be executed in one or more counterparts, each of which shall constitute an original agreement, but all of which together shall constitute one and the same agreement. 

 

	 	5.7	Statutory Notice 

 ORAL
AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW. 
 [SIGNATURE PAGE FOLLOWS] 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed by their
respective duly authorized signatories as of the date first above written. 

					
	
	MARCHEX, INC., a Delaware corporation
		
	By:	 	/s/ Michael A. Arends
		 	Name: Michael A. Arends
		 	Title:   Chief Financial Officer
	
	U.S. BANK NATIONAL ASSOCIATION, as Administrative Agent, Issuing Lender and a Lender
		
	By	 	 /s/ Morgan Dipo

		 	Name:	 	Morgan Dipo
		 	 Title:
	 	  
 Vice President

 GUARANTOR ACKNOWLEDGMENT AND CONSENT 

Each undersigned Guarantor hereby (a) acknowledges that it has reviewed and consents to the terms of the foregoing Second Amendment
to Credit Agreement, (b) reaffirms its Guaranteed Obligations and agrees that its Guaranteed Obligations guarantees the repayment of the Revolving Loans and Borrower’s other Indebtedness to Lenders under the Revolving Facility, as amended
herein and (c) acknowledges that its Guaranteed Obligations remain in full force and effect and are enforceable without defense, offset, or counterclaim. 

 

					
	GUARANTORS:
	
	goClick.com, Inc.
		
	By	 	/s/ Francis J. Feeney
		 	Name:	 	 Francis J. Feeney

		 	Title:	 	 Secretary

	
	MARCHEX, LLC
		
	By	 	/s/ Dan Corcoran
		 	Name:	 	 Dan Corcoran

		 	Title:	 	 President

	
	MARCHEX SALES, LLC
		
	By	 	/s/ Francis J. Feeney
		 	Name: 	 	 Francis J. Feeney

		 	Title:	 	 Secretary

	
	JINGLE NETWORKS, INC.
		
	By	 	/s/ Dan Corcoran
		 	Name:	 	 Dan Corcoran

		 	Title:	 	 Vice PresidentEX-10.5

 Exhibit 10.5 

FIRST AMENDMENT TO CREDIT AGREEMENT 

This FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of December 18, 2013 (this “First Amendment”), by and
among MODUSLINK GLOBAL SOLUTIONS, INC., a Delaware corporation (“ModusLink Global”), MODUSLINK CORPORATION, a Delaware corporation (“ModusLink”), and MODUSLINK PTS, INC., a Delaware corporation (collectively with
ModusLink and ModusLink Global, the “Borrowers”), the financial institutions identified on the signature pages hereof as lenders (collectively with their respective successors and assigns, the “Lenders” and each a
“Lender”), and WELLS FARGO BANK, NATIONAL ASSOCIATION as administrative agent for the Lenders (in such capacity the “Agent”). 

The Borrowers, Lenders and Agent are parties to that certain Credit Agreement, dated as of October 31, 2012 (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have agreed to make certain financial accommodations to the Borrowers. 

The Borrowers, the Agent and the Lenders wish to amend certain provisions of the Credit Agreement as more fully set forth below. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties signatory hereto agree as follows: 
 1. Definitions.
Except as otherwise defined in this First Amendment, terms defined in the Credit Agreement are used herein as defined therein. 
 2.
Amendments to Credit Agreement. 
 (a) Schedule 1.1 of the Credit Agreement is hereby amended to include the following
definition of “Permitted Holder” in the proper alphabetical order: 
 “Permitted Holder” means
Steel Partners Holdings L.P. 
 (b) Subsections (a) and (b) of the definition of “Change in Control” set
forth in Schedule 1.1 of the Credit Agreement are hereby amended by inserting the phrase “(other than the Permitted Holder)” immediately after the phrase “acting in concert” in each instance in which such phrase is found therein.

 (c) The definition of “Continuing Director” set forth in Schedule 1.1 of the Credit Agreement is hereby amended
by deleting each reference to the phrase “Closing Date” set forth therein and inserting the date “December 19, 2013” in lieu thereof. 

3. Representations and Warranties. Each Borrower represents and warrants to the Agent and Lenders that: 

(a) the representations and warranties of each Loan Party set forth in the Credit Agreement and in each other Loan Document, or
which are contained in any document furnished at any time under or in connection therewith, are true and correct in all material respects on and as of the date hereof, except (1) to the extent that such representations and warranties
specifically refer to an earlier date, in which case they shall be true and correct as of 

 
such earlier date and (2) in the case of any representation and warranty qualified by materiality, they shall be true and correct in all respects and as if each reference therein to
“this Agreement” or the “Credit Agreement” or the like included reference to this First Amendment and the Credit Agreement as amended hereby; 

(b) the execution, delivery, and performance by such Borrower of this First Amendment and the other documents executed and
delivered in connection herewith to which it is a party have been duly authorized by all necessary action on the part of such Borrower; 

(c) the execution, delivery, and performance by such Borrower of this First Amendment and the other documents executed and
delivered in connection herewith to which it is a party do not and will not (i) violate any material provision of federal, state, or local law or regulation applicable to any Loan Party or its Subsidiaries, the Governing Documents of any Loan
Party or its Subsidiaries, or any order, judgment, or decree of any court or other Governmental Authority binding on any Loan Party or its Subsidiaries, (ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time
or both) a default under any Material Contract of any Loan Party or its Subsidiaries except to the extent that any such conflict, breach or default could not individually or in the aggregate reasonably be expected to have a Material Adverse Effect,
(iii) result in or require the creation or imposition of any Lien of any nature whatsoever upon any assets of any Loan Party, other than Permitted Liens, or (iv) require any approval of any holder of Equity Interests of a Loan Party or any
approval or consent of any Person under any Material Contract of any Loan Party, other than consents or approvals that have been obtained and that are still in force and effect and except, in the case of Material Contracts, for consents or
approvals, the failure to obtain could not individually or in the aggregate reasonably be expected to cause a Material Adverse Effect; and 

(d) each of this First Amendment and the other documents executed and delivered in connection herewith has been duly executed
and delivered by each Loan Party that is a party thereto and is the legally valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except as enforcement may be limited by
equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 

4. Conditions Precedent. The amendments to the Credit Agreement set forth in Section 2 hereof shall become effective, as of
the date hereof, upon satisfaction in the Agent’s discretion of the following conditions precedent: 
 (a) The Agent
shall have received a counterpart of this First Amendment, which shall be in form and substance satisfactory to it, duly executed by the Borrowers; 

(b) the Borrowers shall have paid all Lender Group Expenses incurred in connection with the transactions evidenced by this
First Amendment; 
 (c) the representations and warranties in this First Amendment, the Credit Agreement and the other Loan
Documents, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct in all material respects on and as of the date hereof, except (1) to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, (2) in the case of any representation and warranty qualified by materiality, they shall be true and
correct in all respects; and 

  
 2 

 (d) no Default or Event of Default shall have occurred and be continuing both
before and after giving effect to this First Amendment. 
 5. Effect on Loan Documents. The Credit Agreement (as amended hereby) and
the other Loan Documents shall be and remain in full force and effect in accordance with their terms and hereby are ratified and confirmed in all respects. Except as expressly set forth herein or in any amendment to any other Loan Document executed
or delivered on the date hereof, the execution, delivery, and performance of this First Amendment shall not operate as a waiver or an amendment of any right, power, or remedy of the Agent or Lenders under the Credit Agreement or any other Loan
Document, as in effect prior to the date hereof. Each Borrower and each Subsidiary thereof hereby ratifies and confirms in all respects all of its obligations under the Credit Agreement (as amended hereby) and the other Loan Documents to which it is
a party. 
 6. No Novation; Entire Agreement. This First Amendment evidences solely the amendment of the terms and provisions of the
obligations of each Borrower and its Subsidiaries under the Loan Documents and is not a novation or discharge thereof. There are no other understandings, express or implied, among the Borrowers, their Subsidiaries and the Agent and Lenders regarding
the subject matter hereof or thereof. 
 7. Choice of Law. The validity of this First Amendment, its construction, interpretation and
enforcement, and the rights of the parties hereunder, shall be determined under, governed by, and construed in accordance with the laws of the Commonwealth of Massachusetts without regard to conflicts of laws principles. 

8. Counterparts; Electronic Execution. This First Amendment may be executed in any number of counterparts and by different parties and
separate counterparts, each of which when so executed and delivered shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this
First Amendment by facsimile or other electronic means shall be as effective as delivery of a manually executed counterpart of this First Amendment. Any party delivering an executed counterpart of this First Amendment by facsimile or other
electronic means also shall deliver a manually executed counterpart of this First Amendment but the failure to deliver a manually executed counterpart shall not affect the validity, enforceability, and binding effect of this First Amendment. 

9. Construction. This First Amendment is a Loan Document. This First Amendment and the Credit Agreement shall be construed collectively
and in the event that any term, provision or condition of any of such documents is inconsistent with or contradictory to any term, provision or condition of any other such document, the terms, provisions and conditions of this First Amendment shall
supersede and control the terms, provisions and conditions of the Credit Agreement. Upon and after the effectiveness of this First Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“herein”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof” or
words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified and amended hereby. 

[Remainder of Page Intentionally Left Blank] 

  
 3 

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

			
	MODUSLINK GLOBAL SOLUTIONS, INC., as Borrower
		
	By:	 	/s/ Steven G. Crane
	 Name:
 Title:
	 	 Steven G. Crane
 CFO

  

			
	MODUSLINK CORPORATION, as Borrower
		
	By:	 	/s/ Steven G. Crane
	 Name:
 Title:
	 	 Steven G. Crane
 CFO

  

			
	MODUSLINK PTS, INC., as Borrower
		
	By:	 	/s/ Steven G. Crane
	 Name:
 Title:
	 	 Steven G. Crane
 CFO

  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Agent and Lender

		
	By:	 	/s/ Willis A. Williams
	 Name:
 Title:
	 	 Willis A. Williams
 Vice
President

  
 [Signature Page to First
Amendment to Credit Agreement]

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