Document:

Third Amended Credit Facility dated June 30, 2006

 Exhibit 10.73 
  
 AMENDMENT NO. 1 TO CREDIT AGREEMENT AND WAIVER 
  
 This Amendment No. 1 to Credit Agreement and Waiver (“Amendment”) dated as of June 30, 2006 by and among
the lenders signatories hereto (“Banks”), Comerica Bank as agent for the Banks (in such capacity, “Agent”), and Tecstar Automotive Group, Inc., an Indiana corporation (“Company”). 
  
 RECITALS 
  
 A. Company and Banks entered into that certain Second Amended and Restated Credit Agreement dated as of May 19, 2006
(“Agreement”). 
  
 B. The parties desire to amend the
Agreement. 
  
 NOW, THEREFORE, the parties agree that the
Agreement is amended as follows: 
  
 1. The following definitions
in Section 1 of the Agreement are amended to read in their entireties as follows: 
  
 “ ‘Borrowing Base’ shall mean, as of any date of determination thereof, an amount equal to the sum of (i) the lesser of (A) seventy (70%) of Eligible Accounts and (B) Ten Million
Dollars ($10,000,000) plus (ii) the lesser of (A) one hundred percent (100%) of the Loan Value of Eligible Securities Collateral and (B) Fifteen Million Dollars ($15,000,000); provided however, that the Borrowing Base shall be
determined on the basis of the most current Borrowing Base Certificate required to be submitted hereunder, provided, further, that the amount determined as the Borrowing Base shall be subject to any reserves for contras/offsets, potential offsets
due to customer deposits, and such other reserves as reasonably established by the Agent, at the direction or with the concurrence of the Majority Banks from time to time, including, without limitation any reserves or other adjustments established
by Agent or the Majority Banks on the basis of any collateral audits conducted hereunder, all in accordance with ordinary and customary asset-based lending standards, as reasonably determined by Agent and the requisite Banks. In the event that
Agent, at any time in its sole discretion, determines that the dollar amount of Eligible Accounts collectable by a Borrowing Base Obligor is reduced or diluted as a result of discounts or rebates granted by a Borrowing Base Obligor to the respective
Account Debtor(s), returned or rejected Inventory or services, or such other reasons or factors as Agent reasonably deems applicable, all in accordance with ordinary and customary asset-based lending standards, as reasonably determined by Agent and
the requisite Banks, Agent may, in its sole discretion, upon five (5) business days’ prior written notice to Agent, reduce or otherwise modify the percentage of Eligible Accounts included within the Borrowing Base and/or reduce the dollar
amount of Eligible Accounts by an amount determined by Agent in its sole discretion. Advances shall be based first on the component of the Borrowing Base consisting of the Loan Value of Eligible Securities Collateral and then shall be based on
Eligible Accounts.” 
  
 “ ‘Eurocurrency-based
Rate’ shall mean a per annum interest rate which is equal to the sum of one half of one percent ( 1/2%),
plus (b) the quotient of: 
  

	 	(A)	 the per annum interest rate at which deposits in the relevant eurocurrency are offered to Agent’s Eurocurrency Lending Office by other prime banks 

	 	 
in the eurocurrency market in an amount comparable to the relevant Eurocurrency-based Advance and for a period equal to the relevant Eurocurrency-Interest
Period at approximately 11:00 A.M. Detroit time two (2) Business Days prior to the first day of such Eurocurrency-Interest Period, divided by 

  

	 	(B)	a percentage equal to 100% minus the maximum rate on such date at which Agent is required to maintain reserves on ‘Eurocurrency Liabilities’ as defined in and pursuant to
Regulation D of the Board of Governors of the Federal Reserve System or, if such regulation or definition is modified, and as long as Agent is required to maintain reserves against a category of liabilities which includes eurocurrency deposits or
includes a category of assets which includes eurocurrency loans, the rate at which such reserves are required to be maintained on such category, 

  

such sum to be rounded upward, if necessary, to the nearest whole multiple of 1/100th of 1%.” 
  
 “ ‘Prime-based Rate’ shall mean, for any day, that rate of interest which is equal to the greater of
(i) the Prime Rate, minus one and one quarter percent (1 1/4%), and (ii) the Alternate Base Rate.” 
  
 2. The following definition is added to Section 1 of the Agreement in alphabetical order: 
  
 “Adjustment Amount” shall mean as of any date of
determination an amount equal to seventy percent (70%) of the aggregate net proceeds of the issuance of any Equity Interests by any Loan Party after June 28, 2006 to the extent such aggregate amount exceeds $10,000,000. 
  
 3. Section 7.10 of the Agreement is amended to read in its entirety as
follows: 
  
 “7.10 Tangible Effective Net
Worth Commencing July 31, 2006, maintain as of the end of each fiscal quarter a Tangible Effective Net Worth of not less than the Adjustment Amount plus the following amounts during the periods specified below: 
  

				
	 Fiscal Quarter

	  	Amount

	 July 31, 2006
	  	$	40,400,000
	 October 31, 2006 and thereafter
	  	$	36,000,000”

  
 4. Company violated
the provisions of Section 7.10 of the Agreement for the periods ended April 30, 2006. Banks hereby waive such covenant violations for such period. The Banks also waive any Event of Default under the Agreement which arose solely as a result
of the acquisition of Regency Conversions, LLC without the prior approval of the Banks. These waivers shall not act as a consent or waiver of any other transaction, act or omission, whether related or unrelated thereto, including any noncompliance
with Section 7.10 for any period other than the period ended April 30, 2006. These waivers shall not extend to or affect any obligation, covenant, agreement or default not expressly waived hereby. 
  

 2 

 5. Company hereby represents and warrants that, after giving effect to the amendments and waiver
contained herein, (a) execution, delivery and performance of this Amendment and any other documents and instruments required under this Amendment or the Agreement are within Company’s powers, have been duly authorized, are not in
contravention of law or the terms of the Company’s Articles of Incorporation or Bylaws and do not require the consent or approval of any governmental body, agency, or authority; and this Amendment and any other documents and instruments
required under this Amendment or the Agreement, will be valid and binding in accordance with their terms; (b) the representations and warranties of Company set forth in Sections 6.1 through 6.24 of the Agreement are true and correct in all
material respects on and as of the date hereof with the same force and effect as if made on and as of the date hereof; and (c) no Event of Default, or condition or event which, with the giving of notice or the running of time, or both, would
constitute an Event of Default under the Agreement, has occurred and is continuing as of the date hereof. 
  
 6. This Amendment shall be effective upon (a) execution hereof by Company, Agent and the Banks (b) execution of a Reaffirmation of Guaranty by
the guarantors and (c) consummation of the sale by Comerica Bank of its loan to Concord Coatings, Inc. to an entity designated by Company. 
  
 7. This Amendment may be signed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same instrument. 
  
 8. Capitalized terms not defined herein shall have the meanings given to them in the Agreement. 
  
 WITNESS the due execution hereof as of the day and year first above written. 
  

									
	COMERICA BANK, as Agent	 	 	 	TECSTAR AUTOMOTIVE GROUP, INC.
					
	By:	 	 	 	 	 	By:	 	 
	 	 	 Paul A. DeBono
	 	 	 	 	 	 
					
	 Its:
	 	 Vice President
	 	 	 	 Its:
	 	 
				
	 BANKS:
	 	 	 	 	 	      COMERICA BANK

  

			
	 
		
	By:	 	 
	 	 	 Paul A. DeBono

		
	 Its:
	 	 Vice President

  

 3Agreement, dated June 30, 2006, Tecstar Automotive Group

 Exhibit 10.74 
  
 AGREEMENT 
  
 Agreement dated June 30, 2006 between Tecstar Automotive Group, Inc., an Indiana corporation (“Assignee”) and Comerica Bank, a Michigan
banking corporation (“Assignor”). 
  
 RECITALS: 
  
 A. Assignor has various loans (“Loans”) outstanding to Concord
Coatings, Inc. (“Borrower”). The Loans are secured by certain personal property collateral (the “Collateral”) as described in that certain Security Agreement (All Assets) dated September 19, 2005 executed by Borrower in
favor of Assignor (“Security Agreement”). The obligations of Borrower to Assignor are guaranteed under those certain guaranties (the “Guaranties”) executed by Tarxien Automotive Products, Ltd. and LJW Holdings, Ltd.
(“Guarantors”). 
  
 B. The Loans are evidenced by a
promissory note (“Note”) as identified below: 
  

					
	 Notes

	 	 Date

	 	 Original Principal Amount

	 Master Revolving Note-Demand
	 	September 19, 2005	 	CDN $1,500,000

  
 The parties agree as
follows: 
  
 1. Subject to the terms and conditions of this
Agreement, and upon payment of the Purchase Price, on the Effective Date: 
  
 (a) Assignor shall assign to Assignee the Note, its interest in the Security Agreement, and the Guaranties (collectively, the “Loan Documents”). 
  
 (b) The sale shall entitle Assignee to exercise all of Assignor’s rights, with respect to the Loan
Documents, and any other rights on account of such documents which Assignor may have against Borrower or its assets. 
  
 (c) In consideration of the assignment of the Loan Documents, Assignee shall pay to Assignor the Purchase Price as set forth in 3 below.

  
 (d) The assignment of the Loan Documents is
made by Assignor without recourse or warranty of any type or kind to the Assignor, and, except as expressly provided in this Agreement, without any representation, whether express or implied in fact or by law, of any kind by Assignor. 
  
 2. Upon payment in full of the Purchase Price, Assignor shall deliver to
Assignee the Note (the Note shall be endorsed by Assignor to Assignee without recourse or warranty, which endorsement however shall in no way abridge or limit any of the express representations of warranties contained in this Agreement), the
Security Agreement and Guaranties, and shall execute and deliver to Assignee such assignments to Assignee of registration statements and such other documents as may be reasonably requested and prepared by Assignee in order to effect the transfer of
the Loan Documents. All such assignments shall be without recourse, representation or warranty, except that Assignor has not sold, assigned, transferred or pledged its interest in such Loan Documents and any other express representations and
warranties contained in this Agreement. 

 3. The “Effective Date” shall be June 30, 2006. The “Purchase Price” is One
Million Three Hundred Sixty Three Thousand Seven Hundred Twenty Eight and 63/100 Canadian Dollars (CDN$1,363,728.63). 
  
 4. Assignor represents to Assignee that: 
  
 (a) Assignor is a Michigan banking corporation, incorporated and validly existing under the laws of the State of Michigan and has all
requisite power and authority to execute and deliver, and to perform all of its obligations under, this Agreement; 
  
 (b) the execution, delivery and performance of this Agreement has been duly authorized by all necessary action and does not and will not
(i) require any consent or approval of shareholders, (ii) violate any law, rule, regulation, order, writ, judgment, injunction, determination or award presently in effect having applicability to the Assignor or any provision of
Assignor’s articles or by-laws, or (iii) result in a breach or constitute a default under any agreement to which Assignor is a party or by which it is bound; 
  
 (c) this Agreement constitutes a legal, valid and binding obligation of Assignor enforceable against it in
accordance with its terms; 
  
 (d) Assignor has
not sold, assigned, transferred or pledged its interest in any of the Loan Documents and Assignor owns the Note free and clear of any lien or other encumbrance; and 
  
 (e) the Purchase Price, as provided in Section 3, is the total amount of principal and interest
outstanding under the Loan Documents plus costs required to be paid by the Borrower as of the Effective Date as reflected on the books and records of the Bank as of the Effective Date. 
  
 5. Assignee represents to Assignor that: 
  
 (a) Assignee is an Indiana corporation, incorporated and validly existing under the laws of the State of
Indiana and has all requisite power and authority to execute and deliver, and to perform all of its obligations under this Agreement. 
  
 (b) the execution, delivery and performance of this Agreement does not and will not (i) require any consent or approval of
shareholders (ii) violate any law, rule, regulation, order, writ, judgment, injunction, determination or award presently in effect having applicability to the Assignee or any provision of Assignee’s articles or by-laws, or
(iii) result in a breach or constitute a default under any agreement to which Assignee is a party or by which it is bound; 
  
 (c) this Agreement constitutes a legal, valid and binding obligation of Assignee enforceable against it in accordance with its terms; and

  

 2 

 (d) Assignee (i) has such knowledge and experience in financial matters that it is
capable of evaluating the merits and risks of the purchase of the Note and the Security Agreement; (ii) is knowledgeable regarding the financial status of Borrower, the Loan Documents and all of Borrower’s assets; (iii) has agreed to
purchase the Loan Documents on the basis of its own independent investigation, evaluation and credit determination and has not sought or relied upon any representation or warranty from Assignor (except those representations expressly stated in
Section 4 of this Agreement) or information provided by or statements made by Assignor or its representatives; (v) is purchasing the Loan Documents for Assignee’s own account and not with a view to, or for sale in connection with, any
public distribution which would violate applicable securities laws; and (vi) the purchase and sale of the Loan Documents is exempt from registration under applicable Blue Sky or securities law. 
  
 6. Assignee agrees to defend and indemnify Assignor against and hold Assignor
harmless, from any and all liability, claim, cost, loss, damage or expense (including reasonable attorney fees) which Assignor shall incur or suffer as a result of or arising out of or in connection with (a) any breach by Assignee of any
representation or warranty of Assignee contained in this Agreement, (b) any failure by Assignee to carry out any of its obligations under this Agreement, (c) any act or omission of Assignee occurring after the date of this Agreement, and
(d) any claims or damages of any kind arising out of, or relating to the Loan Documents of which Assignee has knowledge as of the date of this Agreement. 
  

7. The parties covenant and agree to execute and deliver all such documents and to take all such further actions, including the provision of
information, as the other may reasonably deem necessary, from time to time, to carry out the intent and purpose of this Agreement and to consummate the contemplated transactions. 
  
 8. The agreements, representations and warranties of the parties shall survive the Effective Date. 
  
 9. This Agreement shall be governed by and construed in accordance with the
laws of the State of Michigan without reference to conflicts of laws. 
  
 10. This Agreement sets forth the entire agreement and understanding of the parties, and supersedes all prior agreements and understandings between the parties with respect to the assignment. This Agreement shall be binding on, and inure to
the benefit of, the parties and their successors and assigns. 
  
 11. This Agreement may be signed in counterparts, each of which shall be an original and both of which taken together shall constitute one agreement. 
  

12. ASSIGNOR, ASSIGNEE AND EACH PARTY ACKNOWLEDGING THIS AGREEMENT ACKNOWLEDGE AND AGREE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL
ONE, BUT THAT IT MAY BE WAIVED. EACH PARTY, AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF THEIR CHOICE, KNOWINGLY AND VOLUNTARILY, AND FOR THEIR MUTUAL BENEFIT WAIVES ANY RIGHT TO 

  

 3 

 
TRIAL BY JURY IN THE EVENT OF LITIGATION REGARDING THE PERFORMANCE OR ENFORCEMENT OF, OR IN ANY WAY RELATED TO, THIS AGREEMENT, THE LOANS, THE NOTE OR THE
SECURITY AGREEMENT. 
  
 13. This Agreement may not be changed,
waived, discharged or terminated orally, but only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 
  

			
	ASSIGNOR:
	
	COMERICA BANK
		
	By:	 	 
		
	 Its:
	 	 

  
  
  
  
  

			
	ASSIGNEE:
	
	TECSTAR AUTOMOTIVE GROUP, INC.
		
	By:	 	 
		
	 Its:
	 	 

  

 4 

 ACKNOWLEDGMENT AND AGREEMENT 
  
 The undersigned acknowledge and agree: 
  
 (1) the foregoing Agreement providing for assignment of the Note and Assignor’s interest in the Security Agreement and
Guaranties to Assignee is with the consent of the undersigned; 
  
 (2) the recitals are true and correct; 
  
 (3) in
consideration of the assignment of the Note and Assignor’s interest in the Security Agreement and Guaranties, the undersigned, in every capacity, knowingly and voluntarily release Assignor, its employees, agents, affiliates, subsidiaries,
successors and assigns, from any claim, right or cause of action which now exists or hereafter arises as a result of acts, omissions or events occurring prior to the date hereof, whether known or unknown, arising from or in any way related to the
foregoing Agreement, the Loans, the Note, the Security Agreement, the Guaranties, and other loan documents or the relationship among Assignor, Borrower and Guarantor, or any of them; 
  
 (4) the Purchase Price is the total amount of principal and interest outstanding under the Note as of the Effective Date;

  
 (5) that the Loan Documents constitute the legal, valid and
binding obligations of Borrower and Guarantors and are enforceable in accordance with their terms and Borrower and Guarantors have no defenses, setoff rights or counterclaims arising under or related to the Loan Documents; 
  
 (6) that except for any liens arising under the Loan Documents, Borrower has
good and marketable title to all of its assets; and 
  
 (7) that
Assignee is entitled to rely on the representations made by Borrower and Guarantors contained herein. 
  
 Dated: June 30, 2006 
  

			
	BORROWER:
	
	CONCORD COATINGS, INC.
		
	By:	 	 
		
	 Its:
	 	 

			
	GUARANTORS:
	
	TARXIEN AUTOMOTIVE PRODUCTS, LTD.
		
	By:	 	 
		
	 Its:
	 	 

  
  
  
  
  

			
	LJW HOLDINGS, LTD.
		
	By:	 	 
		
	 Its:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}]]