Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.9    
    

 
 

SECURITY AGREEMENT    

        THIS
SECURITY AGREEMENT (this "Agreement") dated as of October 24, 2003 is among TELETECH HOLDINGS, INC., a Delaware
corporation (the "Company"), each subsidiary of the Company listed on the signature pages hereof, such other subsidiaries of the Company as from time to
time become parties hereto (together with the Company, each individually a "Debtor" and collectively the
"Debtors") and BANK OF AMERICA, N.A. ("Bank of America"), in its capacity as collateral agent (in such
capacity, the "Collateral Agent") under the Intercreditor Agreement referred to below. 

 
 

W I T N E S S E T H:    

        WHEREAS,
the Company, various financial institutions (the "Lenders") and Bank of America, as administrative agent (in such capacity, the
"Administrative Agent"), have entered into a Credit Agreement dated as of October 29, 2002 (as amended, restated or otherwise modified from time
to time, the "Credit Agreement"); 

        WHEREAS,
the Company is a party to a Note Agreement dated as of October 1, 2001 (as amended by the First Amendment to Note Purchase Agreement dated as of February 1, 2003,
the Waiver and Second Amendment to Note Purchase Agreement dated as of August 1, 2003 and the Third Amendment to Note Purchase Agreement dated as of September 30, 2003, and as further
amended, restated or otherwise modified from time to time, the "Note Agreement") with each of the purchasers listed on Schedule A thereto (the
"Purchasers"; the Purchasers together with each other holder of a Note (as defined in the Intercreditor Agreement referred to below), collectively, the
"Noteholders" and individually each a "Noteholder"); 

        WHEREAS,
each of the Debtors (other than the Company) has guaranteed all obligations of the Company under the Credit Agreement, the Note Agreement and certain other financing
arrangements, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the Debtors (other than the Company) has reaffirmed its obligations under
such guarantees by entering into (a) the Confirmation attached to the Third Amendment, dated as of October 24, 2003, to the Credit Agreement, and (b) the Reaffirmation of Guaranty
attached to the Third Amendment, dated as of September 30, 2003, to the Note Agreement; 

        WHEREAS,
pursuant to an Intercreditor Agreement dated as of the date hereof (as amended, restated or otherwise modified from time to time, the "Intercreditor
Agreement"), the Administrative Agent, on behalf of itself and the Lenders, the Purchasers and the Collateral Agent have agreed that (i) the Benefited Obligations (as
defined in the Intercreditor Agreement) shall be secured and guaranteed pari passu and (ii) Bank of America shall act as collateral agent for the
Benefited Parties (as defined in the Intercreditor Agreement); and 

        WHEREAS,
the Benefited Obligations of each Debtor are to be secured pursuant to this Agreement; 

 

        NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

        1.    Definitions; Interpretation.    When used herein, (a) the terms  Account, Account Debtor,
Certificated Security,  Commercial Tort Claim, Commodity Account, Commodity
Contract, Chattel Paper, Deposit Account,  Document, Equipment, Fixture,  Goods, Inventory, Investment
Property,
Instrument, Security, Security Entitlement,  Securities Account and Uncertificated Security shall have the respective meanings assigned to such terms
in the UCC (as defined below), (b) the terms Benefited Obligations, Benefited Parties,  Event of Default,
 Financing Agreement, Note and  Person shall have the respective meanings assigned to such terms in the
Intercreditor Agreement, (c) references to agreements (including this
Agreement) and other contractual instruments shall be deemed to include all subsequent amendments and other modifications thereto, but only to the extent such amendments and other modifications are
not prohibited by the terms of any Financing Agreement and (d) the following terms have the following meanings (such definitions to be applicable to both the singular and plural forms of such
terms): 

        Administrative Agent—see the Recitals. 

        Agreement—see the Preamble. 

        Assignee Deposit Account—see Section 4. 

        Bank of America—see the Preamble. 

        Business Day means any day on which Bank of America is open for commercial banking business in Charlotte, Chicago, New York and San
Francisco. 

        Collateral means, with respect to any Debtor, all property and rights of such Debtor in which a security interest is granted hereunder. 

        Collateral Agent—see the Preamble. 

        Company—see the Preamble. 

        Computer Hardware and Software means, with respect to any Debtor, (i) all computer and other electronic data processing hardware,
whether now or hereafter owned, licensed or leased by such Debtor, including, without limitation, all integrated computer systems, central processing units, memory units, display terminals, printers,
features, computer elements, card readers, tape drives, hard and soft disk drives, cables, electrical supply hardware, generators, power equalizers, accessories and all peripheral devices and other
related computer hardware; (ii) all software programs, whether now or hereafter owned, licensed or leased by such Debtor, designed for use on the computers and electronic data processing
hardware described in clause (i) above, including, without limitation, all operating system software, utilities and application programs in
whatsoever form (source code and object code in magnetic tape, disk or hard copy format or any other listings whatsoever); (iii) all firmware associated with the foregoing, whether now or
hereafter owned, licensed or leased by such Debtor; and (iv) all documentation for the hardware, software and firmware described in the preceding clauses
(i), (ii) and (iii) above, whether now or hereafter owned, licensed or leased by
such Debtor, including, without limitation, flow charts, logic diagrams, manuals, specifications, training materials, charts and pseudo codes. 

        Costs and Expenses means, with respect to any Debtor, all reasonable out-of-pocket costs and expenses (including
reasonable attorneys' fees and legal expenses) incurred by the Collateral Agent in connection with (i) the execution, delivery and performance of this Agreement by such Debtor,
(ii) protecting, preserving or maintaining any Collateral of such Debtor and (iii) enforcing any rights of the Collateral Agent hereunder in respect of the Collateral of such Debtor. 

        Credit Agreement—see the Recitals. 

2

 

        Debtor—see the Preamble. 

        Default means the occurrence of any of the following events: (a) any Unmatured Event of Default under Section 8.01(f) or
(g) of the Credit Agreement or Section 11(i) or (j) of the Note Agreement or (b) any Event of Default. 

        General Intangibles means, with respect to any Debtor, all of such Debtor's "general intangibles" as defined in the UCC and, in any event,
includes (without limitation) all of such Debtor's trademarks, trade names, patents, copyrights, trade secrets, customer lists, inventions, designs, software programs, mask works, goodwill,
registrations, licenses, franchises, tax refund claims, guarantee claims, security interests and rights to indemnification. 

        Intellectual Property means all past, present and future: trade secrets and other proprietary information; trademarks, service marks,
business names, designs, logos, indicia, and/or other source and/or business identifiers and the goodwill of the business relating thereto and all registrations or applications for registrations which
have heretofore been or may hereafter be issued thereon throughout the world; copyrights (including, without limitation, copyrights for computer programs) and copyright registrations or applications
for registrations which have heretofore been or may hereafter be issued throughout the world and all tangible property embodying the copyrights; unpatented inventions (whether or not patentable);
patent applications and patents; industrial designs, industrial design applications and registered industrial designs; license agreements related to any of the foregoing and income therefrom; mask
works, books, records, writings, computer tapes or disks, flow diagrams, specification sheets, source codes, object codes and other physical manifestations, embodiments or incorporations of any of the
foregoing; the right to sue for all past, present and future infringements of any of the foregoing; and all common law and other rights throughout the world in and to all of the foregoing. 

        Intercreditor Agreement—see the Recitals. 

        Lenders—see the Recitals. 

        Liabilities means, as to each Debtor, all Benefited Obligations of such Debtor. 

        Non-Tangible Collateral means, with respect to any Debtor, such Debtor's Accounts and General Intangibles. 

        Note Agreement—see the Recitals. 

        Noteholders—see the Recitals. 

        Permitted Liens means liens and claims expressly permitted by each Financing Agreement. 

        UCC means the Uniform Commercial Code as in effect from time to time in the State of New York. 

        Unmatured Event of Default means any event which if it continues uncured will, with lapse of time or notice or both, constitute an Event
of Default. 

        2.    Grant of Security Interest.    As security for the payment of all of its Liabilities, each Debtor hereby assigns
to the Collateral Agent for the benefit of the Benefited Parties, and grants to the Collateral Agent for the benefit of the Benefited Parties a continuing security interest in, all of such Debtor's
right, title and interest in the following: 

	(i)
	Accounts;

	(ii)
	Chattel
Paper; 

3

 

	(iii)
	Computer
Hardware and Software and all rights with respect thereto, including, without limitation, any and all licenses, options, warranties, service contracts,
program services, test rights, maintenance rights, support rights, improvement rights, renewal rights and indemnifications, and any substitutions, replacements, additions or model conversions of any
of the foregoing;

	(iv)
	Deposit
Accounts;

	(v)
	Documents;

	(vi)
	General
Intangibles;

	(vii)
	Goods
(including, without limitation, all of its Equipment, Fixtures and Inventory), together with all accessions, additions, attachments, improvements, substitutions
and replacements thereto and therefor;

	(viii)
	Instruments
(together with all guaranties thereof and security therefor);

	(ix)
	Intellectual
Property;

	(x)
	money
(of every jurisdiction whatsoever);

	(xi)
	Investment
Property (including Commodity Accounts, Commodity Contracts, Securities (whether Certificated Securities or Uncertificated Securities), Security Entitlements
and Securities Accounts);

	(xii)
	Commercial
Tort Claims; and

	(xiii)
	to
the extent not included in the foregoing, other personal property of any kind or description; 

in
each case whether now or hereafter existing or acquired, together with all books, records, writings, data bases, information and other property relating to, used or useful in connection with,
evidencing, embodying, incorporating or referring to any of the foregoing, all proceeds, products, offspring, rents, issues, profits and returns of and from any of the foregoing, all distributions on
or rights arising out of any of the foregoing, and all claims and/or insurance payments arising out of the loss, nonconformity or interference with the use of, or infringements of rights in, or damage
to, any of the foregoing. Notwithstanding anything to the contrary contained herein, the security interests granted under this Agreement shall not extend to (a) any property of a Debtor that is
subject to a Lien permitted by Section 7.01(d), (e), (h), (k) or (l) (but in the case of Section 7.01(l), solely with respect to purchase money security interests or leases
of equipment or other personal property and so long as the senior Lien attaches only to the property so acquired or leased) of the Credit Agreement and Section 10.5(c), (h), (i) or
(j) of the Note Agreement pursuant to an agreement or an applicable law that prohibits such Debtor from granting any other Lien in such property,  provided that (i) such Debtor agrees to use
commercially reasonable efforts to avoid any such provision in any agreement (and cause the removal
of any such prohibition from any existing agreement) and to obtain all necessary approvals to permit the Lien of the Collateral Agent on any such property and (ii) such debtor agrees not to
enter into any such agreement after the date hereof other than purchase money contracts and leases of equipment or other personal property; (b) any lease, license or other contract if the grant
of a security interest in such property in the manner contemplated by this Agreement is prohibited thereunder or by law and would result in the termination of, or any claim for damages or the
availability of any other remedial action under, such lease, license or other contract, but only, in the case of both clause (a) and  clause (b)
above, to the extent that such prohibition is not rendered ineffective by the UCC, any other applicable law or general principles of
equity (it being understood that if and when any such prohibition is removed, the Collateral Agent will be deemed to have been granted a security interest in the applicable property, lease, license or
other contract as of the date hereof, and the Collateral will be 

4

 

deemed
to include such property, lease, license or other contract); (c) any equity interests of a Foreign Subsidiary (as defined in the Credit Agreement); or (d) any property that is
subject to (1) Task Order V ((TeleTech Owned Solution Center) GTE.Net LLC d/b/a Verizon Internet Solutions and TeleTech Customer Care Management (Telecommunications), Inc.), effective
May 1, 1999, or (2) Task Order VI (Verizon Select Services Inc. f/k/a GTE Communications Corporation and TeleTech Customer Care Management (Telecommunications), Inc.),
effective June 1, 2000, each of which was entered into in connection with the Client Services Agreement between TeleTech Customer Care Management (Telecommunications), Inc. and GTE Card
Services Incorporated d/b/a GTE Solutions (predecessor in interest to Verizon Internet Solutions), effective July 1, 1999, as amended, in each case as in effect on the date hereof, so long as a
negative pledge exists with respect to such property. 

        3.    Warranties.    Each Debtor warrants that: (i) no financing statement (other than any which may have been
filed on behalf of the Collateral Agent for the benefit of the Benefited Parties) covering any of the Collateral is on file in any public office, other than financing statements related to Permitted
Liens or Liens that have been terminated (and such Debtor agrees to use commercially reasonable efforts to promptly terminate all financing statements relating to such terminated Liens);
(ii) such Debtor is and will be the lawful owner of all Collateral, free of all liens and claims whatsoever, other than the security interest hereunder and Permitted Liens, with full power and
authority to execute and deliver this Agreement, to perform such Debtor's obligations hereunder and to subject the Collateral to the security interest hereunder; (iii) all information with
respect to Collateral and Account Debtors set forth in any schedule, certificate or other writing furnished in connection with this Agreement or any Financing Agreement by such Debtor to the
Collateral Agent or any other Benefited Party will be true and correct in all material respects as of the date furnished; (iv) such Debtor's true legal name as registered in the jurisdiction in
which such Debtor is organized or incorporated, state of organization or incorporation, federal employer identification number, organizational identification number as designated by the state of its
organization or incorporation, chief executive office and principal place of business are as set forth on Schedule I (and, except as set forth on  Schedule I, such Debtor has not maintained its chief executive office and principal place of business at any other location at any time after
October 1, 1998); (v) each other location within the United States where such Debtor maintains a place of business or has any Goods is set forth on  Schedule II hereto; (vi) except as
disclosed on Schedule III, such Debtor is not
now known and during the five years preceding the date hereof has not previously been known by any trade name; (vii) except as disclosed on  Schedule III, during the five years preceding the
date hereof, such Debtor has not been known by any legal name different from the one set forth
on the signature page of this Agreement, nor has such Debtor been the subject of any merger or other corporate reorganization;
(viii) Schedule IV hereto contains a complete listing of all of such Debtor's Intellectual Property which is registered under applicable
registration statutes and (ix) upon the filing of financing statements on Form UCC-1 in the appropriate governmental offices, the Collateral Agent will have a valid lien upon and
perfected security interest in all of the Collateral in which a security interest can be perfected by filing under the UCC (subject only to Permitted Liens). 

        4.    Collections, etc.    The Collateral Agent may, at any time that a Default exists, whether before or after the
maturity of any of the Liabilities, notify any parties obligated on any of the Non-Tangible Collateral to make payment to the Collateral Agent of any amounts due or to become due
thereunder and enforce collection of any of the Non-Tangible Collateral by suit or otherwise and surrender, release or exchange all or any part thereof, or compromise or extend or renew
for any period (whether or not longer than the original period) any indebtedness thereunder or evidenced thereby. Promptly following any request of the Collateral Agent during the existence of a
Default, each Debtor will, at its own expense, notify any parties obligated on any of the Non-Tangible Collateral to make payment to the Collateral Agent of any amounts due or to become
due thereunder. 

5

 

        Upon
request by the Collateral Agent during the existence of a Default, each Debtor will forthwith, upon receipt, transmit and deliver to the Collateral Agent, in the form received, all
cash, checks, drafts and other instruments or writings for the payment of money (properly endorsed, where required, so that such items may be collected by the Collateral Agent) which may be received
by such Debtor at any time in full or partial payment or otherwise as proceeds of any of the Collateral. Except as the Collateral Agent may otherwise consent in writing, any such items requested to be
delivered to the Collateral Agent pursuant to the preceding sentence which may be so received by any Debtor will not be commingled with any other of its funds or property, but will be held separate
and apart from its own funds or property and upon express trust for the Collateral Agent for the benefit of the Benefited Parties until delivery is made to the Collateral Agent. Each Debtor will
comply with the terms and conditions of any consent given by the Collateral Agent pursuant to the foregoing sentence. 

        Upon
request by the Collateral Agent during the existence of a Default, all items or amounts which are delivered by any Debtor to the Collateral Agent on account of partial or full
payment or otherwise as proceeds of any of the Collateral shall be deposited to the credit of a deposit account (each an "Assignee Deposit Account") of
such Debtor maintained with the Collateral Agent, as security for payment of the Liabilities. No Debtor shall have any right to withdraw any funds deposited in the applicable Assignee Deposit Account.
The Collateral Agent may, from time to time, in its discretion, and shall upon request of the applicable Debtor made not more than once in any week, apply all or any of the then balance, representing
collected funds, in the Assignee Deposit Account, toward payment of the Liabilities, whether or not then due, in accordance with the terms of the Intercreditor Agreement, and the Collateral Agent may,
from time to time, in its discretion, release all or any of such balance to the applicable Debtor. 

        During
the existence of a Default, the Collateral Agent is authorized to endorse, in the name of the applicable Debtor, any item, howsoever received by the Collateral Agent, representing
any payment on or other proceeds of any of the Collateral. 

        No
Debtor shall maintain any Deposit Account or deposit any items or amounts in any Deposit Account, except (i) Deposit Accounts maintained with the Collateral Agent,
(ii) Deposit Accounts maintained in a jurisdiction outside the United States and (iii) Deposit Accounts as to which such Debtor, the Collateral Agent and the depository bank have entered
into an agreement that the depositary bank will comply with instructions originated by the Collateral Agent directing disposition of the funds in the account without further consent by such Debtor;  provided that the Collateral Agent shall not provide such instructions unless a Default exists.
 

        Each
Debtor hereby appoints the Collateral Agent as the attorney-in-fact for such Debtor for the purpose of carrying out the provisions of this Agreement and
taking any action and executing or completing any instruments which the Collateral Agent may deem reasonably necessary or advisable to accomplish the purposes hereof, which appointment as
attorney-in-fact is irrevocable and coupled with an interest; provided that the Collateral Agent shall not exercise its rights
as such attorney-in-fact unless a Default exists. 

        5.    Certificates, Schedules and Reports.    Each Debtor will, from time to time, deliver to the Collateral Agent and
any Benefited Party such schedules, certificates and reports respecting all or any of the Collateral at the time subject to the security interest hereunder, and the items or amounts received by such
Debtor in full or partial payment of any of the Collateral, as the Collateral Agent or such Benefited Party may reasonably request. 

6

 

        6.    Agreements of the Debtors.    Each Debtor (a) will, from time to time, deliver to the Collateral Agent
such financing statements and other documents (and pay the cost of filing or recording the same in all public offices reasonably deemed appropriate by the Collateral Agent) and do such other acts and
things (including, without limitation, delivery to the Collateral Agent of any Instruments or Certificated Securities which constitute Collateral), as are necessary or as the Collateral Agent may
reasonably request, to establish and maintain a valid, perfected security interest in the Collateral (free of all other liens, claims and rights of third parties whatsoever, other than Permitted
Liens) to secure the payment of the Liabilities (and each Debtor hereby authorizes the Collateral Agent to file any financing statement without its signature, to the extent permitted by applicable
law, and/or to file a copy of this Agreement as a financing statement in any jurisdiction), provided that, unless requested by the Collateral
Agent during the existence of a Default, no Debtor shall be required to take any action to perfect the Collateral Agent's security interest in Collateral located outside the United States (it being
understood that accounts receivable owed to a Debtor by a non-United States Person shall be deemed to be located in the United States); (b) will keep all its Inventory (other than
Inventory located outside the United States) at, and will not maintain any place of business at any location other than, its address(es) shown on Schedules
I and II hereto or at such other addresses of which such Debtor shall have given the Collateral Agent not less than
10 days' prior written notice; (c) will not change its state of organization or incorporation or its name, identity or corporate structure such that any financing statement filed to
perfect the Collateral Agent's interests under this Agreement would become seriously misleading, unless such Debtor shall have given the Collateral Agent not less than 30 days' (or such shorter
period as may be approved by the Collateral Agent in its sole discretion) prior notice of such change; (d) will keep complete records concerning the Non-Tangible Collateral
consistent with prudent business practices for similarly-situated companies; (e) will furnish the Collateral Agent such information concerning such Debtor, the Collateral and the Account
Debtors of such Debtor as the Collateral Agent may from time to time reasonably request; (f) will, upon request of the Collateral Agent during the existence of a Default, stamp on its records
concerning the Collateral and add on all Chattel Paper constituting a portion of the Collateral, a notation, in form satisfactory to the Collateral Agent, of the security interest of the Collateral
Agent hereunder; (g) without limiting the provisions of Section 6.07 of the Credit Agreement or Section 9.2 of the Note Agreement, will at all times keep all its Inventory and
other Goods insured under policies maintained with reputable, financially sound insurance companies against loss, damage, theft and other risks to such extent as is customarily maintained by companies
similarly situated, and cause all such policies to provide that loss thereunder shall be payable to the Collateral Agent as its interest may appear (it being understood that (A) so long as no
Default shall be existing, the Collateral Agent shall promptly deliver any proceeds of such insurance which may be received by it to such Debtor and (B) whenever a Default shall be existing,
the Collateral Agent may apply any proceeds of such insurance which may be received by it toward payment of the Liabilities, whether or not due, in accordance with the terms of the Intercreditor
Agreement) and such policies or certificates thereof shall, if the Collateral Agent so requests, be deposited with or furnished to the Collateral Agent; (h) will take such actions as are
reasonably necessary to keep its Inventory in good repair and condition, ordinary wear and tear excepted; (i) without limiting the provisions of Section 6.06 of the Credit Agreement or
Section 9.3 of the Note Agreement, will take such actions as are reasonably necessary to keep its Equipment in good repair and condition and in good working or running order, ordinary wear and
tear excepted; (j) without limiting the provisions of Section 6.04 of the Credit Agreement or Section 9.4 of the Note Agreement, will promptly pay when due all license fees,
registration fees, taxes, assessments and other charges which may be levied upon or assessed against the ownership, operation, possession, maintenance or use of its Equipment and other Goods (as
applicable); provided that such Debtor shall not be required to pay any such fee, tax, assessment or other charge if the validity thereof is being
contested by such Debtor in good faith by appropriate proceedings; (k) will, promptly upon request of the Collateral Agent during the existence of a Default, (I) cause the security
interest of the Collateral Agent to be noted on each certificate of title covering Equipment specified by the Collateral Agent and 

7

 

(II) deliver
all such certificates to the Collateral Agent or its designee; (l) will take all steps reasonably necessary to protect, preserve and maintain all of its rights in the
Collateral, provided that nothing in this clause (l) shall limit the ability of such Debtor to
dispose of any Collateral pursuant to a transaction that is not otherwise prohibited by the Credit Agreement or the Note Agreement; (m) will permit the Collateral Agent and its designees, from
time to time, on reasonable notice and at reasonable times and intervals during normal business hours (or at any time without notice during the existence of a Default) to inspect such Debtor's
Inventory and other Goods, and to inspect, audit and make copies of and extracts from all records and other papers in the possession of such Debtor pertaining to the Collateral and the Account
Debtors, and will, upon reasonable request of the Collateral Agent during the existence of a Default, deliver to the Collateral Agent all of such records and papers; (n) will not create or
permit to exist any lien on or security interest in any Collateral other than Permitted Liens and liens and security interests in favor of the Collateral Agent; (o) will, within one Business
Day following the termination of any account control agreement with respect to a Deposit Account or Securities Account maintained by such Debtor, cause all amounts on deposit in such account (and, in
the case of a Deposit Account, within one Business Day after receipt, all amounts deposited to such account following such termination) to be transferred to an account with another financial
institution that is subject to an account control agreement with the Collateral Agent that is in form and substance reasonably satisfactory to the Collateral Agent; (p) will not open any
Deposit Account or Securities Account (other than Deposit Accounts and Securities Accounts maintained outside the United States) after the date hereof unless, concurrently with such opening, such
account is made subject to a control agreement in favor of the Collateral Agent that is in form and substance reasonably acceptable to the Collateral Agent (it being understood that any such control
agreement with Bank of America shall be in substantially the same form as the account control agreement being entered into with Bank of America concurrently herewith); (r) will not fund any
payroll account maintained by such Debtor (i) with amounts in excess of the amount necessary to make the next payroll or (ii) earlier than three Business Days prior to the date on which
payroll must be made; and (s) will, promptly upon any Responsible Officer (as defined in the Credit Agreement), the general counsel or any assistant general counsel of such Debtor obtaining
knowledge that such Debtor has acquired a Commercial Tort Claim having a value reasonably expected to exceed $500,000, notify the Collateral Agent in a writing signed by such Debtor of the details of
such commercial tort claim and grant to the Collateral Agent in such writing a security interest therein and in the proceeds thereof, with such writing to be in form and substance reasonably
satisfactory to the Collateral Agent. 

        Whenever
a Default shall be existing, the Collateral Agent shall have the right to bring suit to enforce any or all of the Intellectual Property or licenses thereunder, in which event
the applicable Debtor shall at the request of the Collateral Agent do any and all lawful acts and execute any and all proper documents required by the Collateral Agent in aid of such enforcement and
such Debtor shall promptly, upon demand, reimburse and indemnify the Collateral Agent for all Costs and Expenses. Notwithstanding the foregoing, neither the Collateral Agent nor any other Benefited
Party shall have any obligation or liability regarding the Collateral or any thereof by reason of, or arising out of, this Agreement. 

        7.    Default.    (a) Whenever a Default shall be existing, the Collateral Agent may exercise from time to time
any rights and remedies available to it under the UCC and any other applicable law (in addition to those described below). 

        (b)   Each
Debtor agrees, at the Collateral Agent's request during the existence of a Default, (i) to assemble, at its expense, all its Inventory and other Goods (other
than Fixtures) at a convenient place or places acceptable to the Collateral Agent, and (ii) to execute all such documents and do all such other things which may be necessary or desirable in
order to enable the Collateral Agent or its nominee to be registered as owner of the Intellectual Property with any competent registration authority. 

8

 

        (c)   Notice
of the intended disposition of any Collateral may be given by first-class mail, hand-delivery (through a delivery service or otherwise), facsimile or
E-mail, and shall be deemed to have been "sent" upon deposit in the United States mail with adequate postage properly affixed, upon delivery to an express delivery service or upon the
electronic submission through telephonic or Internet services, as applicable. Each Debtor hereby agrees and acknowledges that (i) with respect to Collateral that is: (A) perishable or
threatens to decline speedily in value or (B) is of a type customarily sold on a recognized market, no notice of disposition need be given; and (ii) with respect to Collateral not
described in clause (i)above, notification sent after a Default and ten days before any proposed disposition provides notice with a reasonable
time before disposition. 

        (d)   Each
Debtor hereby agrees and acknowledges that a commercially reasonable disposition of Inventory, Equipment, Computer Hardware and Software or Intellectual Property
may be by lease or license of, in addition to the sale of, such Collateral. Each Debtor further agrees and acknowledges that a disposition (i) made in the usual manner on any recognized market,
(ii) at the price current in any recognized market at the time of disposition or (iii) in conformity with reasonable commercial practices among dealers in the type of property subject to
the disposition shall, in each case, be deemed commercially reasonable. 

        (e)   Any
cash proceeds of any disposition by the Collateral Agent of any of the Collateral shall be applied by the Collateral Agent to the payment of Costs and Expenses and
thereafter to the payment of any and all of the other Liabilities in accordance with the terms of the Intercreditor Agreement, and thereafter any surplus will be paid to the applicable Debtor or as a
court of competent jurisdiction shall direct. The Collateral Agent need not apply or pay over for application noncash proceeds of collection and enforcement unless (i) the failure to do so
would be commercially unreasonable and (ii) the applicable Debtor has provided the Collateral Agent with a written demand to apply or pay over such noncash proceeds on such basis. 

        8.    General.    The Collateral Agent shall be deemed to have exercised reasonable care in the custody and
preservation of any of the Collateral in its possession if it takes such action for that purpose as any applicable Debtor requests in writing, but failure of the Collateral Agent to comply with any
such request shall not of itself be deemed a failure to exercise reasonable care, and no failure of the Collateral Agent to preserve or protect any rights with respect to the Collateral against prior
parties, or to do any act with respect to the preservation of the Collateral not so requested by any Debtor, shall be deemed a failure to exercise reasonable care in the custody or preservation of the
Collateral. 

        Any
notice hereunder shall be in writing (including facsimile transmission) and shall be sent to the applicable party at the address of its chief executive office shown on  Schedule I (or, in the case
of the Collateral Agent, underneath its signature hereto) or at such other address as such party may have designated
as its address for such purpose by (i) written notice received by the Collateral Agent or (ii) in the case of a change of the Collateral Agent's address, written notice received by the
Company (which shall be conclusively presumed to have been received by all other parties). 

        No
delay on the part of the Collateral Agent in the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial exercise by the Collateral Agent of any
right or remedy shall preclude other or further exercise thereof or the exercise of any other right or remedy. 

9

 

        Unless
released in writing by the Collateral Agent, this Agreement shall remain in full force and effect until all Liabilities have been paid in cash in full and all commitments to
create Liabilities have terminated. If at any time all or any part of any payment theretofore applied by the Collateral Agent or any other Benefited Party to any of the Liabilities is or must be
rescinded or returned by the Collateral Agent or any other Benefited Party for any reason whatsoever (including, without limitation, the insolvency, bankruptcy or reorganization of any Debtor), such
Liabilities shall, for the purposes of this Agreement, to the extent that such payment is or must be rescinded or returned, be deemed to have continued in existence, notwithstanding such application
by the Collateral Agent or such Benefited Party, and this Agreement shall continue to be effective or be reinstated, as the case may be, as to such Liabilities, all as though such application by the
Collateral Agent or such Benefited Party had not been made. 

        This
Agreement shall be construed in accordance with and governed by the laws of the State of New York applicable to contracts made and to be performed entirely within such State (except
to the extent that, pursuant to New York law, the perfection, the effect of perfection or nonperfection or the priority of any security interest granted hereunder may be determined in accordance with
the laws of a different jurisdiction). Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of
such provision or the remaining provisions of this Agreement. 

        This
Agreement shall be binding upon the Debtors and the Collateral Agent and their respective successors and assigns, and shall inure to the benefit of the Debtors, the Collateral
Agent, each Benefited Party and the respective successors and assigns of the Collateral Agent and the Benefited Parties. 

        This
Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, and each such counterpart shall be deemed to be an original,
but all such counterparts shall together constitute one and the same Agreement. At any time after the date of this Agreement, one or more additional Persons may become parties hereto by executing and
delivering a counterpart to the Collateral Agent of this Agreement (including supplements to the Schedules hereto). Immediately upon such execution and delivery (and without any further action), each
such additional Person will become a party to, and will be bound by all the terms of, this Agreement. 

        ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER FINANCING AGREEMENT, SHALL BE BROUGHT AND MAINTAINED
EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK; PROVIDED THAT ANY SUIT
SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT THE COLLATERAL AGENT'S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND OR
IN ANY JURISDICTION IN WHICH A BANKRUPTCY, INSOLVENCY OR OTHER SIMILAR LEGAL OR EQUITABLE PROCEEDING IS PENDING AGAINST ANY ONE OR MORE OF THE DEBTORS. EACH DEBTOR HEREBY EXPRESSLY AND IRREVOCABLY
SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY SUCH LITIGATION AS SET FORTH
ABOVE. EACH DEBTOR FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, TO THE ADDRESS SET FORTH ON SCHEDULE I HERETO (OR SUCH OTHER ADDRESS AS IT
SHALL HAVE SPECIFIED IN WRITING TO THE COLLATERAL AGENT AS ITS ADDRESS FOR NOTICES HEREUNDER) OR BY PERSONAL SERVICE WITHIN OR OUTSIDE THE STATE OF NEW YORK. EACH
DEBTOR HEREBY EXPRESSLY AND IRREVOCABLY  

10

 

 WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM
THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT ANY DEBTOR HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY LEGAL PROCESS
(WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, SUCH DEBTOR HEREBY IRREVOCABLY WAIVES SUCH
IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS AGREEMENT AND EACH OTHER FINANCING AGREEMENT.

        EACH DEBTOR, THE COLLATERAL AGENT AND (BY ACCEPTING THE BENEFITS HEREOF) EACH OTHER BENEFITED PARTY HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR
PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY OTHER FINANCING AGREEMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN
CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY LENDING RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE FOREGOING, AND AGREE THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT
AND NOT BEFORE A JURY.

11

 

        IN
WITNESS WHEREOF, this Agreement has been duly executed as of the day and year first above written. 

	 	 	TELETECH HOLDINGS, INC.
	

 	
 	

By:	

 	

 
	 	 	 	

	 	 	Title:	 
	 	 	 	 	

	

 	
 	

TELETECH SERVICES CORPORATION

TELETECH CUSTOMER CARE MANAGEMENT

    (COLORADO), INC.

TELETECH FACILITIES MANAGEMENT

    (POSTAL CUSTOMER SUPPORT), INC.

TELETECH CUSTOMER CARE MANAGEMENT

    (TELECOMMUNICATIONS), INC.

TELETECH FINANCIAL SERVICES MANAGEMENT,

    LLC

TELETECH CUSTOMER CARE MANAGEMENT

    (CALIFORNIA), INC.

TELETECH CUSTOMER CARE MANAGEMENT

    (PENNSYLVANIA), LLC

CARABUNGA.COM, INC.

TELETECH CUSTOMER CARE MANAGEMENT

    (TEXAS), INC.

TELETECH INTERNATIONAL HOLDINGS, INC.

TELETECH SOUTH AMERICA HOLDINGS, INC.

T-TEC LABS, INC.
	

 	
 	

By:	

 	

 
	 	 	 	

	 	 	Title:	 
	 	 	 	 	

	

 	
 	

NEWGEN RESULTS CORPORATION
	

 	
 	

By:	

 	

 
	 	 	 	

	 	 	Title:	 
	 	 	 	 	

12

 

	

 	
 	

TELETECH CUSTOMER SERVICES, INC.

TTEC NEVADA, INC.
	

 	
 	

By:	

 	

 
	 	 	 	

	 	 	Title:	 
	 	 	 	 	

13

 

	

 	
 	

BANK OF AMERICA, N.A., as Collateral Agent
	

 	
 	

By:	

 	

 
	 	 	 	

	 	 	Title:	 
	 	 	 	 	

	

 	
 	

231 South LaSalle Street

Chicago, IL 60697

Attention: David A. Johanson, Vice President

Facsimile: 312-974-9102
	 	 	 	 	 

14

 

	

 	
 	

ADDITIONAL SIGNATURE PAGE to the Security Agreement dated as of October 24, 2003 (the "Security Agreement") among TeleTech Holdings, Inc. (the "Company"), Bank of America, N.A., as Collateral Agent, and various Subsidiaries of the Company.
	

 	
 	

The undersigned is executing a counterpart of this Security Agreement for purposes of becoming a party hereto (and attached hereto are supplemental schedules setting forth information with respect to the undersigned required to make the
representations and warranties with respect to the undersigned set forth in this Security Agreement accurate as of the date hereof):
	

 	
 	

[NAME OF SUBSIDIARY]
	

 	
 	

By:	

 	

 
	 	 	 	

	 	 	Name:	 
	 	 	 	 	

	 	 	Title:	 
	 	 	 	 	

	

 	
 	

Date:	

 
	 	 	 	 	

15

 
 

SCHEDULE I
  TO SECURITY AGREEMENT    
    
    Corporate Information    
    

	Subsidiary
 
	 	FEIN
	 	State of

Incorporation
	 	State Org ID
	 	Chief Executive Office/

Principle Place of Business

	TeleTech Holdings, Inc.	 	84-1291044	 	DE	 	2464275	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	 	 	 	 	 	 	 	 	Principal Place of Business from September 1, 1998 to June 30, 2001:

1700 Lincoln, 14th Floor

Denver, CO 80202
	Carabunga.com. Inc.	 	33-0902188	 	DE	 	3176689	 	10243 Genetic Center Drive

San Diego, CA 92121

Attn: Secretary

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	Newgen Results Corporation	 	33-0604378	 	DE	 	2937699	 	10243 Genetic Center Drive

San Diego, CA 92121

Attn: Secretary

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech Customer Care Management (CA), Inc.	 	95-3822608	 	CA	 	C1160673	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	 	 	 	 	 	 	 	 	 

	TeleTech Customer Care Management (CO), Inc.	 	84-1218090	 	CO	 	19921111145	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech Customer Care Management (PA), LLC	 	91-2089070	 	PA	 	2975136	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech Customer Care Management (Telecommunications), Inc.	 	84-1382879	 	DE	 	2702728	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech Customer Care Management (TX), Inc.	 	84-1564938	 	TX	 	143944000	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech Customer Services, Inc.	 	84-1504927	 	NV	 	13090-1999	 	101 Convention Center Drive

Suite 850

Las Vegas, Nevada, USA 89109

Attn: Monte Miller

Facsimile: 702-598-3651

Email:

nhs@nevhold.com
	TeleTech Facilities Management (Postal Customer Support), Inc.	 	84-1356609	 	DE	 	2657736	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	 	 	 	 	 	 	 	 	 

	TeleTech Financial Services Management, LLC	 	91-2089159	 	DE	 	3323158	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech International Holdings, Inc.	 	84-1585263	 	DE	 	3352638	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech Services Corporation	 	84-1366615	 	CO	 	19961109819	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TeleTech South America Holdings, Inc.	 	84-1517050	 	DE	 	2924933	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	T-TEC LABS, INC. (f/k/a TeleTech f/k/a TeleTech Technology Development and Integration, Inc.)	 	84-1409664	 	DE	 	2743653	 	9197 S. Peoria Street

Denver, CO 80112

Attn: General Counsel

Facsimile: 303-397-8677

Email:

sharonoleary@teletech.com
	TTEC Nevada, Inc.	 	84-1504932	 	NV	 	13089-1999	 	101 Convention Center Drive

Suite 850

Las Vegas, Nevada, USA 89109

Attn: Monte Miller

Facsimile: 702- 598-3651

Email:

nhs@nevhold.com

 
 

SCHEDULE II
  TO SECURITY AGREEMENT    
    
    Addresses Of All Locations At Which Goods Are Located
  (Specify whether such location is owned or leased by the applicable Debtor)

	Location
 
	 	Address
	 	Owner/Lessee/Contractor
	 	Leased/Owned

	Atlanta	 	2975 Breckenridge Blvd, Atlanta, GA 30096	 	TeleTech Customer Care Management (CO), Inc.	 	Leased*
	Birmingham	 	6501 EJ Oliver Blvd, Fairfield, AL 35064	 	TeleTech Customer Care Management (CO), Inc.	 	Leased
	Bremerton	 	1400 NE McWilliams Road, Bremerton, WA 98311	 	TeleTech Customer Care Management (CO), Inc.	 	Leased*
	Corporate Headquarters	 	9197 S. Peoria Street, Englewood, CO 80112	 	TeleTech Services Corporation	 	Owned
	Deland	 	1398 S. Woodland Blvd, Deland, FL 32720	 	TeleTech Customer Care Management (CO), Inc.	 	Leased
	Enfield	 	1 Vision Drive, Enfield, CA 06082	 	TeleTech Financial Services Management, LLC	 	Leased
	Englewood	 	333 Inverness Drive South, Englewood, CO 80112	 	TeleTech Customer Care Management (CO), Inc.	 	Leased*
	Greenville	 	204 Halton Road, # 500, Greenville, SC 29607	 	TeleTech Services Corporation	 	Leased*
	Hampton	 	400 and 421 Butler Farm Road, Hampton, VA 23666	 	TeleTech Customer Care Management (CO), Inc.	 	Leased*
	Irvine (enhansiv)	 	7505 Irvine Center Drive, Irvine, CA 92618	 	TTEC-Labs, Inc.	 	Leased**
	Morgantown	 	5000 Greenbag Road, Morgantown, WV 26501	 	TeleTech Services Corporation	 	Leased
	Moundsville	 	100 W. TeleTech Drive, Moundsville, WV 26041	 	TeleTech Holdings Inc.	 	Leased
	Newgen Business Offices	 	10243 Genetic Center Drive, San Diego, CA 92121	 	Newgen Results Corporation	 	Leased
	Niagara Falls	 	333 Rainbow Blvd North, Niagara Falls, NY 14303	 	TeleTech Holdings Inc.	 	Leased
	North Hollywood	 	12215 Victory Blvd, North Hollywood, CA 91606	 	TeleTech Holdings Inc.	 	Leased
	Percepta	 	1320 S. Babcock Street, Melbourne, FL 32901	 	Percepta LLC	 	Leased
	Percepta Detroit	 	20555 Victor Parkway, Livonia, MI 48152	 	Percepta LLC	 	Leased*
	Stockton	 	6221 West Lane, Stockton, CA 95210	 	TeleTech Holdings Inc.	 	Leased
	Tampa	 	111 US Highway 301 South, Tampa, FL 33619	 	TeleTech Services Corporation	 	Leased*
	Thornton	 	400 East 84th Avenue, Suite #200, Thornton, CO 80229	 	TeleTech Customer Care Management (CO), Inc. and TeleTech Holdings, Inc.	 	Leased**
	Topeka	 	115 SW 29th Street, Topeka, KS 66611	 	TeleTech Customer Care Management (CO), Inc.	 	Leased
	Tucson	 	2929 E Corona Road, Tucson, AZ 85706	 	TeleTech Services Corporation	 	Leased*
	Uniontown	 	1648 Mall Run Road, Uniontown, PA 15401	 	TeleTech Customer Care Management (PA), LLC, guaranteed by TeleTech Holdings, Inc .	 	Leased

	*
	Indicates
a Facilities Management site whereby the TeleTech client provides the location

	**
	Closed
facility with only lease remaining 

 
 

SCHEDULE III
  TO SECURITY AGREEMENT    
    
    Tradenames, etc.    
    

        Refer to Schedule IV to Security Agreement 

 
 

SCHEDULE IV
  TO SECURITY AGREEMENT    
    
    Intellectual Property; Trademarks; Patents; Copyrights; etc.    
    

Trademarks/Tradenames  

	General Information
	 	Pending Application
	 	Status/Notes
	 	Registration

	Mark
 
	 	Class
	 	Description of

Goods/Services
	 	Serial No.
	 	Date Filed
	 	Status
	 	Registration Number

	CYBERCARE	 	9	 	Computer software for managing and accessing databases containing information about products and services of others, which said others' customers may inquire about for product information, sales, customer services,
technical supoort and product delivery dates	 	75/979,176	 	06/02/97 -

Application Filed	 	08/28/01 - Mark Registered.	 	2,483,757
	

CYBERCARE	
 	

35	
 	

 	
 	

75/301,358	
 	

 	
 	

05/07/02 - Mark Registered	
 	

2,567,670
	

CYBERCARE	
 	

38	
 	

 	
 	

75/301,358	
 	

 	
 	

03/12/02 - Mark Registered	
 	

2,545,839
	

ENHANSIV	
 	

9

35

38

42	
 	

 	
 	

76/084,867	
 	

07/03/00	
 	

10/29/02 - Mark Registered	
 	

2,641,711
	

TELETECH	
 	

9	
 	

Computer software in the fields of telephone answering, telemarketing and teleservicing in the nature of responding to and receiving telephone inquiries from customers of other businesses.	
 	

74/621,989	
 	

01/13/95 - Intent to Use filed.	
 	

01/18/00 - Mark registered.

09/12/97 - Opposition Period ends.

08/12/97 - Published for Opposition.	
 	

2,309,496
	

TELETECH	
 	

35

41	
 	

35 - Telephone answering services; telemarketing; and teleservicing, in the nature of responding to and receiving telephone inquires from customers of other businesses; and research, development and consulting services relating thereto.

41 - Educational services, namely training courses and seminars in the fields of telephone answering, telemarketing, teleservicing and computer programming services.	
 	

74/619,676	
 	

01/10/95 - Intent to Use filed.	
 	

08/27/96 - Mark Registered.

12/14/01 - Section 8 and 15 filed	
 	

1,996,498
	 	 	 	 	 	 	 	 	 	 	 	 	 

	

TELETECH	
 	

35

41

42	
 	

35 - Employment and advertising agency services for others and research, development and consulting services related thereto; computer site operation and management services for others and research, development and consulting services related
thereto.

41 - Educational services, namely, training courses and seminars, all in the fields of computer software, employment agency services, advertising agency services, computer disaster recovery planning services and computer site design, operation
and management services.

42 - Computer disaster recovery planning services, computer site design services and research, development and consulting services related to computer disaster recovery planning services, computer site design services computer
software.	
 	

75/978,238	
 	

01/13/95 - Intent to Use filed.	
 	

06/07/99 - Mark Registered.	
 	

2,252,044
	

THE ANSWER FOR YOUR CUSTOMERS	
 	

9

35

38

41

42	
 	

 	
 	

75/222,467	
 	

01/07/97 - Intent to Use filed.	
 	

08/24/02 - Mark Registered	
 	

2,625,327
	

INTELLISYSTEM	
 	

42	
 	

 	
 	

75/499,004	
 	

 	
 	

12/11/01 - Mark Registered	
 	

2,506,168

	General Information
	 	Pending Application
	 	Status/Notes
	 	Registration
 

	
Mark
 
	
 	

Class
	
 	

Description of

Goods/Services
	
 	

Serial No.
	
 	

Date Filed
	
 	

 
	
 	

Registration Number

	CARABUNGA.COM	 	35	 	Computerized database management services; business consulting services in the field of automobile sales and services and customer retention services, namely managing operations, customer service and customer relationship
in the field of automobile sales and services via a global computer network	 	75/878,852	 	 	 	01/09/01 - Mark Registered	 	2,419,128
	

CARABUNGA.COM and Design	
 	

35	
 	

Computerized database management services; business consulting services in the field of automobile sales and services and customer retention services, namely managing operations, customer service and customer relationship in the field of automobile
sales and services via a global computer network	
 	

75/894,002	
 	

 	
 	

01/09/01 - Mark Registered	
 	

2,419,180
	

E-ROAD	
 	

35	
 	

Computerized database management services; business consulting services in the field of automobile sales and services and customer retention services, namely, managing operations, customer service and customer relationships in the field of automobile
sales and services; providing real-time access to databases of automobile sales and service information	
 	

76/198,677	
 	

 	
 	

11/15/01 - Mark Registered	
 	

2,506,843
	 	 	 	 	 	 	 	 	 	 	 	 	 

	

NEWGEN	
 	

35	
 	

Computerized database management services; business consulting services in the field of automobile sales and services and customer retention services, namely, managing operations, customer service and customer relationships in the field of automobile
sales and services	
 	

75/870,889	
 	

 	
 	

11/24/98 - Mark Registered	
 	

2,205,782
	

NEWGEN RESULTS	
 	

35	
 	

Computerized database management services; business consulting services in the field of automobile sales and services and customer retention services, namely, managing operations, customer service and customer relationships in the field of automobile
sales and services	
 	

 	
 	

 	
 	

11/17/98 - Mark Registered	
 	

2,204,032
	

ROAD	
 	

9	
 	

Computer hardware and software for use by automobile dealers to remotely access databases of automobile sales and maintenance information and generate reports from such data	
 	

75/684,596	
 	

 	
 	

08/21/01 - Mark Registered.	
 	

2,480,539
	

ROAD	
 	

35	
 	

Computerized database management services; business consulting services in the field of automobile sales and services and customer retention services, namely, managing operations, customer service and customer relationships in the field of automobile
sales and services; providing real-time access to databases of automobile sales and service information	
 	

75/683,958	
 	

 	
 	

12/21/00 - Statement of Use Accepted and Mark Registered	
 	

2,435,819
	 	 	 	 	 	 	 	 	 	 	 	 	 

	

TRIANGLE DESIGN	
 	

35	
 	

Computerized database management services; business consulting services in the field of automobile sales and services and customer retention services, namely, managing operations, customer service and customer relationships in the field of automobile
sales and services	
 	

 	
 	

 	
 	

11/24/98 - Mark Registered	
 	

2,205,781
	

ULTIMATE SERVICE	
 	

35	
 	

Business management supervision services in the field of automobile dealership departments; computerized database management services for the automobile dealership and retail industry; customer retention services for others, namely, managing
operations, customer service and customer relationships in the field of automobile sales and services	
 	

75/599,731	
 	

 	
 	

12/12/00 - Mark Registered	
 	

2,412,986

Domain Names  

	teletechca.com
	teletech.com
	enhansiv.com
	teletecheuro.com
	ttecsolutions.com
	canrecuriting.com
	teletechintl.com
	ttec-solutions.com
	enhansiv.net
	enhansiv.org
	teletechindia.com
	dvr3.com
	cybercaresolutions.com
	dcr3.com
	teletechsucks.com
	teletechsucks.org
	teletechsucks.net
	emersant.com.pl
	enhansiv.com.pl
	emersant.com.ph
	enhansiv.ph
	enhansiv.com.ph
	emersant.ph

QuickLinks

Exhibit 10.9

SECURITY AGREEMENT

W I T N E S S E T H

SCHEDULE I TO SECURITY AGREEMENT Corporate Information

SCHEDULE II TO SECURITY AGREEMENT Addresses Of All Locations At Which Goods Are Located (Specify whether such location is owned or leased by the applicable Debtor)

SCHEDULE III TO SECURITY AGREEMENT Tradenames, etc.

SCHEDULE IV TO SECURITY AGREEMENT Intellectual Property; Trademarks; Patents; Copyrights; etc.QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.10    
    

DEED OF TRUST, SECURITY AGREEMENT, ASSIGNMENT OF RENTS

AND LEASES AND FIXTURE FILING (COLORADO)  

 by and from  

 TELETECH SERVICES CORPORATION ("Grantor")  

 to  

 THE PUBLIC TRUSTEE OF THE COUNTY OF DOUGLAS, COLORADO ("Trustee")  

 for the benefit of  

 BANK OF AMERICA, N.A.,

in its capacity as Collateral Agent ("Beneficiary")  

 Dated as of October 24, 2003  

	Location:	 	9197 S. Peoria Street
	

Municipality:	
 	

Englewood
	County:	 	Douglas
	State:	 	Colorado

*COLLATERAL CONTAINS FIXTURES*  

 TO BE FILED FOR RECORD IN THE REAL PROPERTY RECORDS  

 PREPARED BY, RECORDING REQUESTED BY,

AND WHEN RECORDED MAIL TO:  

 Mayer, Brown, Rowe & Maw LLP

190 S. LaSalle Street

Chicago, IL 60603

Attention: Ami G. Scott  

  

 
 

DEED OF TRUST, SECURITY AGREEMENT, ASSIGNMENT OF RENTS
  AND LEASES AND FIXTURE FILING (Colorado)    
    

        THIS DEED OF TRUST, SECURITY AGREEMENT, ASSIGNMENT OF RENTS AND LEASES AND FIXTURE FILING
(Colorado) (this "Deed of Trust") dated as of October 24, 2003 is made by  TELETECH SERVICES CORPORATION,
 a Colorado corporation ("Grantor"), whose address is 9197 South Peoria Street, Englewood, Colorado 80112, Attention:
Karen Breen, to THE PUBLIC TRUSTEE OF THE COUNTY OF DOUGLAS, COLORADO("Trustee"), for the benefit of
BANK OF AMERICA, N.A. ("Bank of America"), as collateral agent (in such capacity, the "Collateral
Agent") for and representative of various creditors of TeleTech Holdings, Inc. (the "Company") under the Intercreditor
Agreement referred to below (the Collateral Agent, together with its successors and assigns, "Beneficiary"), having an address at 231 S. LaSalle Street,
Chicago, Illinois 60697. 

 
 

RECITALS    
    

        A.    The Company, various financial institutions (collectively the "Lenders")
and Bank of America, as administrative agent (in such capacity, the "Administrative Agent"), have entered into a Credit Agreement dated as of
October 29, 2002 (as amended, restated or otherwise modified from time to time, the "Credit Agreement"). 

        B.    The Company is a party to a Note Agreement dated as of October 1, 2001 (as amended by the First Amendment to Note
Purchase Agreement dated as of February 1, 2003, the Waiver and Second Amendment to Note Purchase Agreement dated as of August 1, 2003 and the Third Amendment to Note Purchase Agreement
dated as of September 30, 2003, and as further amended, restated or otherwise modified from time to time, the "Note Agreement") with each of the
purchasers listed on Schedule A thereto (the "Purchasers"; the Purchasers together with each other holder of a Note (as defined in the
Intercreditor Agreement referred to below), collectively, the "Noteholders" and individually each a
"Noteholder"). 

        C.    Grantor has guaranteed all obligations of the Company under the Credit Agreement, the Note Agreement and certain other
financing arrangements pursuant to one or more guaranties (the "Guaranties"). 

        D.    The obligations of Grantor under the Guaranties are evidenced by a Global Note dated October 24, 2003 (the
"Global Note") payable to the Collateral Agent for the benefit of each of the Benefited Parties (as defined below). 

        E.    Pursuant to an Intercreditor Agreement dated as of the date hereof (as amended, restated or otherwise modified from time
to time, the "Intercreditor Agreement"), the Administrative Agent, on behalf of itself and the Lenders, the Purchasers and the Collateral Agent have
agreed that (i) certain obligations of the Company and various subsidiaries shall be secured and guaranteed pari passu and (ii) Bank of America shall act as collateral agent for the
holders of such obligations (such holders, together with the Collateral Agent, the "Benefited Parties"). 

        F.    The obligations of Grantor under the Guaranties are to be secured pursuant to this Deed of Trust. 

1

 

 
 

ARTICLE 1    
    
    DEFINITIONS AND INTERPRETATION    
    

        SECTION 1.1    Definitions.    As used herein, the following terms
shall have the following meanings: 

        (a)    "Base Rate":    For any day a fluctuating rate per annum equal to the higher of
(i) the Federal Funds Rate plus 0.5% and (ii) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its "prime rate." The "prime rate"
is a rate set by Bank of America based upon various factors, including Bank of America's costs and desired return, general economic conditions and other factors, and is used as a reference point for
pricing some loans, which may be priced at, above or below such announced rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified
in the public announcement of such change. 

        (b)    "Default Rate":    The sum of the Base Rate plus 2%. 

        (c)    "Event of Default":    The failure by Grantor to make any payment under either Guaranty
upon demand therefor by Administrative Agent or any Noteholder. 

        (d)    "Federal Funds Rate":    For any day, the rate per annum equal to the weighted average
of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on
the Business Day next succeeding such day; provided that (a) if such day is not a business day, the Federal Funds Rate for such day shall be such
rate on such transactions on the next preceding business day as so published on the next succeeding business day, and (b) if no such rate is so published on such next succeeding business day,
the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as
determined by the Administrative Agent. 

        (e)    "Financing Agreement":    The Credit Agreement, the Note Agreement, each Note (as
defined in the Note Agreement), the Global Note and any other agreement which evidences or gives rise to any obligation that is secured pursuant to the Guaranties or pursuant to which any collateral
is granted to secure the obligations under any other Financing Agreement. 

        (f)    "Indebtedness":    All obligations of Grantor under the Guaranties. The scheduled final
maturity date of the Indebtedness is October 31, 2011 and the maximum principal amount of the Indebtedness is $225,000,000. 

        (g)    "Mortgaged Property":    All of Grantor's right, title and interest in and to the
following: 

          (i)  the
fee interest, if any, in the real property described in Exhibit A hereto (the
"Land"), which together with all rights, privileges, tenements, hereditaments, rights-of-way, easements, appendages and
appurtenances appertaining to the foregoing and all interests now or in the future arising in respect of, benefiting or otherwise relating to the Land, including easements,
rights-of-way, development rights and all right, title and interest now owned or hereafter acquired by Grantor in and to any land lying within the right of way of any street,
open or proposed, adjoining the Land, and any and all sidewalks, alleys, driveways and strips and gores of land adjacent to or used in connection with the Land (all of the foregoing, together with the
Land, collectively the "Real Property"); 

         (ii)  all
buildings, structures, facilities and improvements of every nature whatsoever now or hereafter situated on the Land or any other real property encumbered hereby
(the "Improvements"); 

2

 

        (iii)  (x) all
fixtures (as defined in the UCC (as defined below)), and all extensions, additions, accessions, improvements, betterments, renewals, substitutions and
replacements thereto (the "Fixtures") (the Real Property, Fixtures and Improvements, collectively, the
"Premises"); 

        (iv)  all
leases, subleases, lettings, licenses, operating agreements, management agreements and other agreements affecting the Mortgaged Property that Grantor has entered
into, taken by assignment, taken subject to, assumed or otherwise become bound by, now or in the future, that give any Person the right to conduct its business on, or otherwise use, operate or occupy,
all or any portion of the Premises, and any leases, agreements or arrangements permitting anyone to enter upon or use any of the Premises to extract or remove natural resources of any kind, together
with all amendments, extensions and renewals of the foregoing, and all rental, service, maintenance or other similar agreements pertaining to use or occupation of the Premises or any part thereof,
together with all related security and other deposits (the "Leases"); 

         (v)  all
of the rents, revenues, receipts, royalties, income, proceeds, profits, license fees, security and other types of deposits, and other benefits paid or payable by
parties to the Leases for using, leasing, licensing, possessing, operating from, residing in, selling or otherwise enjoying the Mortgaged Property (the
"Rents"); 

        (vi)  all
other agreements, guaranties, warranties, permits, licenses, certificates and entitlements in any way relating to the construction, use, occupancy, operation,
maintenance, enjoyment or ownership of the Mortgaged Property (the "Property Agreements"); 

       (vii)  all
rights, privileges, tenements, hereditaments, rights-of-way, easements, appendages and appurtenances appertaining to the foregoing; 

      (viii)  all
property tax refunds and rebates and utility refunds and rebates (the "Refunds"); 

        (ix)  all
accessions, replacements and substitutions for any of the foregoing and all proceeds thereof (the "Proceeds"); 

         (x)  all
insurance policies, unearned premiums therefor and proceeds from such policies covering any of the above property now or hereafter acquired by Grantor (the
"Insurance"); and 

        (xi)  all
of Grantor's right, title and interest in and to any awards, damages, remunerations, reimbursements, settlements or compensation heretofore made or hereafter to be
made by any government authority pertaining to the Premises or Fixtures (the "Condemnation Awards"). 

        As
used in this Deed of Trust, the term "Mortgaged Property" means all or, where the context permits or requires, any portion of the above or any interest therein. 

        (h)    "Obligations":    All of the agreements, covenants, conditions, warranties,
representations and other obligations of Grantor under the Guaranties. 

        (i)    "UCC":    The Uniform Commercial Code in the State of Colorado, except to the extent
that the provisions of Section 9-301 or any other section of the Uniform Commercial Code in the State of Colorado mandate that the Uniform Commercial Code of another jurisdiction be
applied, in which event (and to such extent), the term "UCC" means the Uniform Commercial Code in effect in that jurisdiction. 

3

 

        SECTION 1.2    Interpretation.    The meanings of defined terms are
equally applicable to the singular and plural forms of the defined terms. The term "including" is by way of example and not limitation. Any reference to
an Article or a Section is to the relevant Article or Section of this Deed of Trust, unless otherwise
specified. Article, Section and subsection headings herein are included for convenience of reference only and shall not affect the interpretation of this Deed of Trust. 

 
 

ARTICLE 2    
    
    GRANT    
    

        SECTION 2.1    Grant.    To secure the full and timely payment of the
Indebtedness and the full and timely performance of the Obligations, Grantor GRANTS, BARGAINS, SELLS, ASSIGNS, and  CONVEYS to Trustee the Mortgaged
Property, TO HAVE AND TO HOLD the Mortgaged Property unto Trustee,  IN TRUST, WITH POWER OF SALE, and Grantor hereby binds itself, its successors and
assigns to WARRANT AND FOREVER
DEFEND the title to the Mortgaged Property unto Trustee. 

 
 

ARTICLE 3    
    
    REPRESENTATIONS AND WARRANTIES    
    

        Grantor represents and warrants to Beneficiary and the Benefited Parties as follows: 

        SECTION 3.1    Title to Mortgaged Property and Lien of this
Instrument.    Grantor has (i) good, sufficient and legal title to (in the case of fee interests in real property comprising the Mortgaged Property) and
(ii) good and marketable title to (in the case of all other property comprising the Mortgaged Property) the Mortgaged Property free and clear of all Liens, claims and interests, except Liens
permitted by Section 7.01(a), (b) or (f) of the Credit Agreement and Section 10.5 of the Note Agreement ("Permitted Liens").
Grantor has and will continue to have full power and lawful authority to grant, release, convey, assign, transfer, mortgage, pledge, hypothecate and otherwise create Liens on the Mortgaged Property as
provided herein. The Mortgaged Property is accurately, completely, adequately and sufficiently described herein and in Exhibit A as required by
applicable laws for this Deed of Trust to create a deed of trust lien on (and security interest against) all of the Mortgaged Property. 

        SECTION 3.2    Other Real Property.    Grantor does not own or lease
or have any interest in any other real property used or useful in the operation of the Mortgaged Property, other than the real property described on  Exhibit A hereto. 

        SECTION 3.3    First Priority Deed of Trust.    This Deed of Trust
creates a valid, enforceable first priority deed of trust lien and security interest against the Mortgaged Property and first priority assignment of the Leases and Rents, subject in each case only to
Permitted Liens, and there are no defenses or offsets to Grantor's obligations pursuant to this Deed of Trust. Grantor shall preserve and protect the Lien and security interest created hereunder and
the priority thereof. If any Lien or security interest other than any Permitted Lien is asserted against the Mortgaged Property, Grantor shall promptly, at its expense, (a) give Beneficiary a
detailed written notice of such Lien or security interest (including origin, amount and other terms) and (b) pay the underlying claim in full or take such other action so as to cause it to be
released or contest the same in compliance with the requirements of the Financing Agreements (including the requirement of providing a bond or other security reasonably satisfactory to Beneficiary). 

4

 

        SECTION 3.4    Leases.    With respect to the assignment of Leases and
Rents set forth in Article 6, Grantor represents that (i) it has provided Beneficiary with a true and complete copy of each Lease in
effect on the date hereof; (ii) as of the date hereof, Grantor is not, in the capacity of lessor, a party to any other lease, whether written or oral, or any agreement for the use and occupancy
of any of the Mortgaged Property, except as heretofore disclosed in writing by Grantor to Beneficiary; (iii) the Leases are valid, binding and in full force and effect and have not been amended
or modified, except as heretofore disclosed in writing by Grantor to Beneficiary; (iv) Grantor is the sole owner of the lessor's interest in the Leases; (v) except for Permitted Liens,
Grantor has not executed any other assignment or pledge of any of the Leases or Rents or performed any other act or executed any other instrument which might prejudice Beneficiary's rights hereunder;
(vi) to the best of Grantor's knowledge, no default exists on the part of any lessee, or on the part of Grantor, as lessor, in the performance of the terms, covenants, provisions, conditions or
agreements contained in any Lease; (vii) Grantor knows of no condition which, with the giving of notice or the passage of time or both, would constitute a default under any Lease on the part of
any lessee or Grantor, as lessor, except as heretofore disclosed in writing by Grantor to Beneficiary; (viii) no rent has been paid by any lessee for more than one installment in advance; and
(ix) no payment of any of the Rents to accrue under the Leases has been or will be waived, released, reduced, discounted or otherwise discharged or compromised by Grantor, except as heretofore
disclosed in writing by Grantor to Beneficiary. 

        SECTION 3.5    Peaceable Possession.    Grantor's possession of the
Mortgaged Property has been peaceable and undisturbed and, to the best of Grantor's actual knowledge, without investigation or inquiry, except as previously disclosed in writing to Beneficiary, the
title thereto has never been disputed or questioned, and, except as previously disclosed in writing to Beneficiary, Grantor does not know of any facts by reason of which any adverse claim to any part
of the Mortgaged Property or to any undivided interest therein might be set up or made. 

        SECTION 3.6    Taxes.    The Land is or will be taxed separately
without regard to any other property. Grantor has not received any notice of any federal, state or local tax claim or Lien assessed or filed against Grantor or the Mortgaged Property for taxes which
are due and payable, unsatisfied of record or docketed in any court of the state in which the Mortgaged Property is located or in any other court located in the United States. 

        SECTION 3.7    Casualty and Condemnation.    The Mortgaged Property
has not been damaged or destroyed by fire or other casualty, and no condemnation or eminent domain proceeding has been commenced or is pending with respect to the Mortgaged Property and, to the best
of Grantor's knowledge, no such condemnation or eminent domain proceeding is about to be commenced. 

        SECTION 3.8    Other Mortgaged Property Rights.    All easements,
leasehold and other property interests, all utility and other services (including gas, electric, telephone, water and sewage services and facilities), means of transportation, facilities, other
materials and other rights that are reasonably necessary for the operation of the Mortgaged Property in accordance with applicable requirements of law have been procured or are commercially available
to the Mortgaged Property at commercially reasonable rates and, to the extent appropriate, arrangements have been made on commercially reasonable terms for such easements, interests, services, means
of transportation, facilities, materials and rights. 

        SECTION 3.9    Subdivision Compliance.    The Land has been subdivided
from all other property in compliance with applicable laws. No subdivision or other approval is necessary with respect to the Premises in order for Grantor to mortgage, convey or otherwise deal with
the Premises as a separate lot or parcel. 

5

 

 
 

ARTICLE 4    
    
    COVENANTS OF GRANTOR    
    

        Grantor covenants for the benefit of Beneficiary and the Benefited Parties as follows: 

        SECTION 4.1    Payment and Performance.    Grantor shall pay the
Indebtedness when due under the Guaranties and shall perform the Obligations in full when they are required to be performed in accordance with the terms of the Guaranties. 

        SECTION 4.2    Warranty of Title.    Grantor shall warrant, preserve
and defend Grantor's title to the Mortgaged Property, the interest of Beneficiary and the Benefited Parties in and to the Mortgaged Property and the validity, enforceability and priority of the Lien
of this Deed of Trust, this assignment of Leases and Rentals and this grant of a security interest against the claims and demands of all Persons whomsoever, at its sole cost and expense. 

        SECTION 4.3    Taxes.    

        (a)   Grantor
shall pay, prior to delinquency, all taxes, charges and similar assessments ("Impositions") imposed or levied by
any government authority which create a Lien upon the Mortgaged Property or any part thereof. If by law any such Imposition is payable, or may at the option of the taxpayer be paid, in installments,
Grantor may pay the same, together with any accrued interest on the unpaid balance of such Imposition, in installments as the same become due and before any fine, penalty, interest or cost may be
added thereto for the nonpayment of any such installment and interest. If at any time after the date hereof there shall be assessed or imposed a license fee, tax or assessment on Beneficiary which is
measured by or based in whole or in part upon the amount of the outstanding Obligations, then all such taxes shall be deemed to be included within the term "Impositions" as defined herein, and Grantor
shall pay and discharge the same as herein provided with respect to the payment of Impositions, or, if Grantor shall not be permitted by law to pay and discharge such Imposition either directly or
indirectly, then, at the option of Beneficiary, all obligations secured hereby, together with all interest thereon, shall become immediately due and payable. 

        (b)   Subject
to the provisions of Section 4.3(c), upon written request therefor Grantor shall furnish to Beneficiary
within 30 days after the date upon which any Imposition would be delinquent, official receipts of the appropriate taxing authority, or other proof satisfactory to Beneficiary, evidencing the
payment thereof. 

        (c)   Grantor
has the right, before any delinquency occurs, to contest or object to the amount or validity of any Imposition by appropriate proceedings promptly instituted and
diligently conducted, so long as (i) such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor and (ii) in the case
of a charge or claim which has or may become a Lien against any of the Mortgaged Property, such contest proceedings conclusively operate to stay the sale of any portion of the Mortgaged Property to
satisfy such Imposition. 

        SECTION 4.4    Utilities.    Grantor shall pay, when due, all utility
charges incurred by Grantor for the benefit of the Mortgaged Property, or which may become a charge or Lien against the Mortgaged Property, for gas, electricity, water, sewer and all other utility
services furnished to the Mortgaged Property, and all other assessments or charges of a similar nature, whether public or private, affecting the Mortgaged Property or any portion thereof, whether or
not such assessments or charges are Liens thereon. 

6

 

        SECTION 4.5    Adverse Action.    Grantor shall appear in and contest
any action or proceeding purporting to affect the security hereof or the rights or powers of Beneficiary or any Benefited Party and shall pay all costs and expenses, including the cost of a title
report and reasonable attorneys' fees (including the reasonable attorneys' fees of Beneficiary and such Benefited Party) incurred in any such action. If Grantor receives any notice or other instrument
which might materially and adversely affect the Mortgaged Property or the deed of trust lien of this Deed of Trust, Grantor shall promptly furnish a copy of such notice or other instrument to
Beneficiary. The notices referred to shall include notices from any tenant or landlord of the Mortgaged Property claiming a default by Grantor under any Lease; any notice from a government authority
concerning any special tax; any notice of any alleged violation of any building, zoning, fire or other law or regulation affecting the Mortgaged Property; any notice of a mechanic's or supplier's
Lien, whether actually filed or threatened; and any notice of an action or proceeding filed or threatened against Grantor or the Mortgaged Property. 

        SECTION 4.6    Condemnation Awards and Insurance Proceeds.    

        (a)    Condemnation Awards.    Grantor assigns all Condemnation Awards to which it is entitled for any condemnation or
other taking, or any purchase in lieu thereof, to Beneficiary and authorizes Beneficiary to collect and receive such Condemnation Awards and to give proper receipts and acquittances therefor. 

        (b)    Insurance Proceeds.    Grantor assigns to Beneficiary all of Grantor's right, title and interest in and to all
proceeds of any insurance policies insuring against loss or damage to the Mortgaged Property. Grantor (i) authorizes Beneficiary to collect and receive such proceeds and (ii) authorizes
and directs the issuer of each of such insurance policies to make payment for all such losses directly to Beneficiary, instead of to Grantor and Beneficiary jointly. 

        (c)    Insurance.    

          (i)  Grantor
shall not carry separate or additional insurance concurrent in form or contributing, in the event of loss, with that required hereunder unless such insurance is
endorsed in favor of Beneficiary as loss payee or additional insured, as applicable, and contains endorsements providing coverage secondary to the insurance required to be carried hereunder. Nothing
contained herein shall prohibit Grantor from holding or obtaining an owner's policy of title insurance covering the Mortgaged Property. 

         (ii)  If
Grantor fails to maintain the insurance required to be maintained by any Financing Agreement, then Beneficiary, if it so elects, may itself have such insurance
effected in such amounts and in such companies as it may deem proper and may pay the premiums therefor, and all expenses so incurred of every kind and character shall be a demand obligation owing by
Grantor to Beneficiary and shall bear interest from the date of expenditure until paid at the Default Rate, and the same shall be secured by the lien evidenced by this Deed of Trust. Beneficiary shall
not be responsible for the solvency of any company issuing any insurance policy, whether or not selected or approved by it, or for the collection of any amount due under any such policy, and shall be
responsible and accountable only for such money as may be actually received by it. 

 
 

ARTICLE 5    
    
    DEFAULT AND FORECLOSURE    
    

        SECTION 5.1    Remedies.    If an Event of Default exists, Beneficiary
may, at Beneficiary's election and by or through Trustee or otherwise, exercise any or all of the following rights, remedies and recourses: 

7

 

        (a)    Entry on Mortgaged Property.    Enter the Mortgaged Property and take exclusive possession thereof and of all
books, records and accounts relating thereto or located thereon. If Grantor remains in possession of the Mortgaged Property after an Event of Default and without Beneficiary's prior written consent,
Beneficiary may invoke any legal remedies to dispossess Grantor. 

        (b)    Operation of Mortgaged Property.    Hold, lease, develop, manage, operate or otherwise use the Mortgaged
Property upon such terms and conditions as Beneficiary may deem reasonable under the circumstances (making such repairs, alterations, additions and improvements and taking other actions, from time to
time, as Beneficiary deems necessary or desirable), and apply all Rents and other amounts collected by Trustee in connection therewith in accordance with the provisions of  Section 5.7. 

        (c)    Foreclosure and Sale.    Elect to commence foreclosure proceedings by way of a public trustee's sale pursuant
to the provisions of Title 38, Article 38, Colorado Revised Statutes, as amended, or in any other manner then permitted by law, four weeks' public notice having previously been given of the
time and place of such sale by advertisement, weekly, in a newspaper of general circulation in the county in which the property is located, or upon such other notice as may then be required by law; or
foreclose this Deed of Trust by appropriate proceedings in any court of competent jurisdiction. Beneficiary, any Benefited Party or any designee of any of the foregoing may be a purchaser at such
sale, and if Beneficiary is the highest bidder, Beneficiary may credit the portion of the purchase price that would be distributed to Beneficiary against the Indebtedness in lieu of paying cash. If
this Deed of Trust is foreclosed by judicial action, appraisement of the Mortgaged Property is waived. Beneficiary shall be entitled to collect all costs and expenses incurred in pursuing the remedies
provided herein, including reasonable attorneys' fees and costs of appraisals and title evidence. Except as otherwise provided by applicable law or in  Section 5.7, Trustee shall apply the proceeds
of sale in the following order: (a) to all costs and expenses of the sale, including the
Trustee's fees, attorneys' fees and costs of appraisals and title evidence; (b) to all sums secured by this Deed of Trust in accordance with the terms of the Intercreditor Agreement; and
(c) the excess, if any, to the person or persons legally entitled thereto. Nothing in this Section 5.1(c) shall be deemed to contradict or
add to the requirements and procedures now or hereafter specified by Colorado law, and any such inconsistency shall be resolved in favor of Colorado law applicable at the time of foreclosure. 

        (d)    Receiver.    Make application to a court of competent jurisdiction for, and obtain from such court as a matter
of strict right and without notice to Grantor or regard to the adequacy of the Mortgaged Property for the repayment of the Indebtedness, the appointment of a receiver of the Mortgaged Property, and
Grantor irrevocably consents to such appointment. Any such receiver shall have all the usual powers and duties of receivers in similar cases, including the full power to rent, maintain and otherwise
operate the Mortgaged Property. 

        (e)    Acceleration.    Declare the Indebtedness to be immediately due and payable and thereupon all Indebtedness
shall be and become immediately due and payable. 

        (f)    Other.    Exercise all other rights, remedies and recourses granted under the Intercreditor Agreement or any
Financing Agreement or otherwise available at law or in equity. 

        SECTION 5.2    Separate Sales.    The Mortgaged Property may be sold
in one or more parcels and in such manner and order as Beneficiary in its sole discretion may elect; the right of sale arising out of any Event of Default shall not be exhausted by any one or more
sales. 

8

 

        SECTION 5.3    Remedies Cumulative, Concurrent and
Nonexclusive.    Beneficiary, the Benefited Parties, and Trustee have all rights, remedies and recourses granted in the Intercreditor Agreement and any Financing
Agreement, and available at law or equity (including the UCC), which rights (a) shall be cumulative and concurrent, (b) may be pursued separately, successively or concurrently against
Grantor or others obligated under the Collateral Documents, or against the Mortgaged Property, or against any one or more of them, at the sole discretion of Beneficiary, the Required Benefited Parties
(as defined in the Intercreditor Agreement) or Trustee, as the case may be, (c) may be exercised as often as occasion therefor shall arise, and the exercise or failure to exercise any of them
shall not be construed as a waiver or release thereof or of any other right, remedy or recourse and (d) are intended to be, and shall be, nonexclusive. No action by Beneficiary, any Benefited
Party or Trustee in the enforcement of any right, remedy or recourse under any Financing Agreement or any Collateral Document or otherwise at law or equity shall be deemed to cure any Event of
Default. 

        SECTION 5.4    Release of and Resort to Collateral.    Beneficiary may
release, regardless of consideration and without the necessity for any notice to or consent by the holder of any subordinate Lien on the Mortgaged Property, any part of the Mortgaged Property without,
as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien or security interest (including with respect to the Mortgaged Property) created in or evidenced by the other
Collateral Documents. For payment of the Indebtedness, Beneficiary may resort to any other security in such order and manner as Beneficiary may elect. 

        SECTION 5.5    Waiver of Redemption, Notice and Marshalling of
Assets.    To the fullest extent permitted by law, Grantor irrevocably and unconditionally waives and releases (a) all benefit that might accrue to Grantor by
virtue of any present or future statute of limitations or law or judicial decision exempting the Mortgaged Property from attachment, levy or sale on execution or providing for any stay of execution,
exemption from civil process, redemption or extension of time for payment, (b) except as expressly provided for herein or in any applicable Financing Agreement, all notices of any Event of
Default or of any election by Trustee, Beneficiary or any Benefited Party to exercise or the actual exercise of any right, remedy or recourse provided for herein, and (c) any right to a
marshalling of assets or a sale in inverse order of alienation. 

        SECTION 5.6    Discontinuance of Proceedings.    Beneficiary, any
Benefited Party or Trustee have the unqualified right to invoke any right, remedy or recourse permitted hereunder or under applicable law and the unqualified right thereafter to discontinue or abandon
it for any reason, and, in such an event, Grantor, Beneficiary, the Benefited Parties and Trustee shall be restored to their former positions with respect to the Indebtedness, the Obligations, the
Financing Agreements, the Mortgaged Property and otherwise, and the rights, remedies and recourses of Beneficiary, the Benefited Parties and Trustee shall continue as if the right, remedy or recourse
had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Beneficiary, any Benefited Party or Trustee thereafter to
exercise any right, remedy or recourse under any Financing Agreement for such Event of Default. 

        SECTION 5.7    Application of Proceeds.    Subject to
Section 5.1(c), the proceeds of any sale of, and the Rents and other amounts generated by the holding, leasing, management, operation or other use of the Mortgaged Property, shall be applied by
Beneficiary in accordance with the terms of the Intercreditor Agreement. 

9

 

        SECTION 5.8    Additional Advances and Disbursements; Costs of
Enforcement.    

        (a)   If
any Event of Default exists, Beneficiary and each of the Benefited Parties has the right, but not the obligation, to cure such Event of Default in the name and on
behalf of Grantor. All sums advanced and expenses incurred at any time by Beneficiary or any Benefited Party under this Section 5.8, or otherwise
under this Deed of Trust or applicable law, shall bear interest from the date that such sum is advanced or expense incurred, to and including the date of reimbursement, at the Default Rate, and all
such sums, together with interest thereon, shall be secured by this Deed of Trust. 

        (b)   Grantor
shall pay all expenses (including reasonable attorneys' fees and expenses) of or incidental to the perfection and enforcement of this Deed of Trust, or the
enforcement, compromise or settlement of the Indebtedness or any claim under this Deed of Trust, and for the curing thereof, or for defending or asserting the rights and claims of Beneficiary in
respect thereof, by litigation or otherwise. To the fullest extent permitted by law, any costs incurred by Beneficiary or its attorney as a part of the cost of foreclosure in conjunction with
Grantor's default hereunder shall be deemed allowable by Trustee in a foreclosure action. Such allowable costs shall include appraisal fees, attorneys' fees and all costs incurred by Beneficiary or
its attorney in conjunction with securing, preserving and maintaining the Mortgaged Property and any improvements contained thereon, such as, by way of example and not by way of limitation, costs
incurred in conjunction with the appointment and/or institution of a receivership (whether or not a receiver be appointed). 

        SECTION 5.9    No Mortgagee in Possession.    Neither the enforcement
of any of the remedies under this Article 5, the assignment of the Rents and Leases under  Article 6, the security interests under Article 7, nor any other right, power or remedy
afforded to Beneficiary under this Deed of Trust or any other Collateral Document, at law or in equity, shall cause Beneficiary, any Benefited Party or Trustee to be deemed or construed to be a
mortgagee in possession of the Mortgaged Property, to obligate Beneficiary, any Benefited Party or Trustee to lease the Mortgaged Property or attempt to do so, or to take any action, incur any
expense, or perform or discharge any obligation, duty or liability whatsoever under any of the Leases or otherwise. 

        SECTION 5.10    Actions by Beneficiary to Preserve the Mortgaged
Property.    If Grantor fails to make any payment or do any act as and in the manner provided in this Deed of Trust beyond any applicable cure period, Beneficiary, in
its sole and absolute discretion, without obligation so to do and without notice to or demand upon Grantor and without releasing Grantor from any obligation, may make such payment or do such act in
such manner and to such extent as Beneficiary may deem necessary to protect the security hereof. In connection therewith (without limiting Beneficiary's general powers), Beneficiary shall have and is
hereby given the right, but not the obligation, to the extent permitted under applicable law, (a) to enter upon and take possession of the Mortgaged Property; (b) to make additions,
alterations, repairs and Improvements to the Mortgaged Property which it may consider necessary or proper to keep the Mortgaged Property in good condition and repair; (c) to appear and
participate in any action or proceeding which affects or may affect the security hereof or the rights or powers of Beneficiary; (d) to pay, purchase, contest or compromise any encumbrance,
claim, charge, Lien or debt which, in Beneficiary's judgment, may affect or appear to affect the security of this Deed of Trust; and (e) in exercising such powers, to employ counsel or other
necessary or desirable experts or consultants. Grantor shall, immediately upon demand therefor by Beneficiary, pay all costs and expenses incurred by Beneficiary in connection with the exercise by
Beneficiary of the foregoing rights, including cost of evidence of title, court costs, appraisals, surveys and reasonable attorneys' fees, together with interest thereon from the date incurred at the
Default Rate. All such costs and expenses together with such interest shall be secured by this Deed of Trust. 

10

 

 
 

ARTICLE 6    
    
    ASSIGNMENT OF RENTS AND LEASES    
    

        SECTION 6.1    Assignment.    In furtherance of and in addition to the
assignment made by Grantor in Section 2.1, Grantor absolutely and unconditionally assigns, sells, transfers and conveys to Beneficiary all of its
right, title and interest in and to all Leases, whether now existing or hereafter entered into, and all of its right, title and interest in and to all Rents. This assignment is an absolute assignment
and not an assignment for additional security only. So long as no Event of Default exists, Grantor shall have a revocable license from Beneficiary to exercise all rights extended to the landlord under
the Leases, including the right to receive and collect all Rents and to hold the Rents in trust for use in the payment and performance of the Obligations and to otherwise use the same. During the
existence of an Event of Default, whether or not legal proceedings have commenced, and without regard to waste, adequacy of security for the Obligations or the solvency of Grantor, the license herein
granted shall automatically expire and terminate, without notice by Beneficiary (any such notice being hereby expressly waived by Grantor). 

        SECTION 6.2    Perfection Upon Recordation.    Grantor acknowledges
that Beneficiary has taken all actions necessary to obtain, and that upon recordation of this Deed of Trust Beneficiary shall have, to the extent permitted under applicable law, a valid and fully
perfected, first priority, present assignment of the Rents arising out of the Leases and all security for such Leases. Grantor acknowledges and agrees that, to the extent permitted under applicable
law, upon recordation of this Deed of Trust Beneficiary's interest in the Rents shall be deemed to be fully perfected, "choate" and enforced as to Grantor and all third parties, including any
subsequently appointed trustee in any case under Title 11 of the United States Code (the "Bankruptcy Code"), without the necessity of commencing a
foreclosure action with respect to this Deed of Trust, making formal demand for the Rents, obtaining the appointment of a receiver or taking any other affirmative action. 

11

  

        SECTION 6.3    Bankruptcy Provisions.    Without limitation of the
absolute nature of the assignment of the Rents hereunder, Grantor and Beneficiary agree that (a) this Deed of Trust shall constitute a "security agreement" for purposes of Section 552(b)
of the Bankruptcy Code, (b) the security interest created by this Deed of Trust extends to property of Grantor acquired before the commencement of a case in bankruptcy and to all amounts paid
as Rents and (c) such security interest shall extend to all Rents acquired by the estate after the commencement of any case in bankruptcy. 

 
 

ARTICLE 7    
    
    SECURITY AGREEMENT    
    

        SECTION 7.1    Fixture Filing.    This Deed of Trust shall also
constitute a "fixture filing" for the purposes of the UCC against all of the Mortgaged Property which is or is to become fixtures. For purposes of the UCC and the fixture filing, information
concerning the security interest herein granted may be obtained at the addresses of Debtor (Grantor) and Secured Party (Beneficiary) as set forth in the first paragraph of this Deed of Trust, Grantor
is the "Debtor", Beneficiary is the "Secured Party" and the collateral is all of the Mortgaged Property which is or is to become fixtures. 

        SECTION 7.2    Financing Statements.    Grantor shall execute (as
applicable) and deliver to Beneficiary, in form and substance reasonably satisfactory to Beneficiary, such financing statements and such further assurances as Beneficiary may, from time to time,
reasonably consider necessary to create, perfect and preserve Beneficiary's security interest hereunder, and Beneficiary may cause such statements and assurances to be recorded and filed, at such
times and places as may be required or permitted by law to so create, perfect and preserve such security interest. Grantor authorizes Beneficiary to file any financing statement without its signature,
to the extent permitted by applicable law, and/or to file a copy of this Deed of Trust as a financing statement in any jurisdiction. 

 
 

ARTICLE 8    
    
    CONCERNING THE TRUSTEE    
    

        SECTION 8.1    Certain Rights.    Trustee has the right to rely on any
instrument, document or signature authorizing or supporting any action taken or proposed to be taken by it hereunder, believed by it in good faith to be genuine. Trustee is entitled to reimbursement
for actual, reasonable expenses incurred by it in the performance of its duties and to reasonable compensation for Trustee's services hereunder as shall be rendered. Grantor shall, from time to time,
pay the compensation due to Trustee hereunder and reimburse Trustee for, and indemnify, defend and save Trustee harmless against, all liability and reasonable expenses which may be incurred by it in
the performance of its duties, including those arising from joint, concurrent or comparative negligence of Trustee; provided that Grantor shall not be
liable under such indemnification to the extent such liability or expenses result solely from Trustee's gross negligence or willful misconduct. Grantor's obligations under this  Section 8.1 shall
not be reduced or impaired by principles of comparative or contributory negligence. 

        SECTION 8.2    Retention of Money.    All moneys received by Trustee
shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated in any manner from any other moneys (except to the extent
required by law), and Trustee shall be under no liability for interest on any moneys received by it hereunder. 

        SECTION 8.3    Colorado Law Regarding Public Trustees.    Nothing in
this Deed of Trust shall be deemed to contradict or add to the rights of a public trustee under Colorado law. 

12

 

 
 

ARTICLE 9    
    
    MISCELLANEOUS    
    

        SECTION 9.1    Notices.    Any notice hereunder shall be in writing
(including facsimile transmission) and shall be sent to Grantor or Beneficiary at its address set forth in the introductory paragraph (or at such other address as such party may have designated as its
address for such purpose). 

        SECTION 9.2    Covenants Running with the Land.    All obligations
contained in this Deed of Trust are intended by Grantor, Beneficiary and Trustee to be, and shall be construed as, covenants running with the Mortgaged Property. As used herein, "Grantor" shall refer
to the party named in the first paragraph of this Deed of Trust and to any subsequent owner of all or any portion of the Mortgaged Property. All subsequent owners and lenders who may have or acquire
an interest in the Mortgaged Property shall be deemed to have notice of, and be bound by, the terms of this Deed of Trust. 

        SECTION 9.3    Attorney-in-Fact.    Grantor
irrevocably appoints Beneficiary and its successors and assigns as its attorney-in-fact, which agency is coupled with an interest and with full power of substitution,
(a) to execute and/or record any notice of completion, notice of cessation of labor or any other notice that Beneficiary deems appropriate to protect Beneficiary's interest, if Grantor shall
fail to do so within five (5) Business Days after written request by Beneficiary, (b) upon the issuance of a deed pursuant to the foreclosure of this Deed of Trust or the delivery of a
deed in lieu of foreclosure, to execute all instruments of assignment, conveyance or further assurance with respect to the Leases, Rents, Property Agreements, Refunds, Proceeds, Insurance and
Condemnation Awards in favor of the grantee of any such deed as may be necessary or desirable for such purpose, (c) to prepare, execute and file or record financing statements, continuation
statements, applications for registration and like papers necessary to create, perfect or preserve Beneficiary's security interests and rights in or to any of the Mortgaged Property, and
(d) while any Event of Default exists, to perform any obligation of Grantor hereunder, however: (1) Beneficiary shall not under any circumstances be obligated to perform any obligation
of Grantor; (2) any sums advanced by Beneficiary in such performance shall be added to and included in the Indebtedness and shall bear interest at the Default Rate; (3) Beneficiary as
such attorney-in-fact shall only be accountable for such funds as are actually received by Beneficiary; and (4) Beneficiary shall not be liable to Grantor or any other
Person for any failure to take any action which it is empowered to take under this Section 9.3. 

        SECTION 9.4    Successors and Assigns.    This Deed of Trust shall be
binding upon and inure to the benefit of Beneficiary, the Benefited Parties, Trustee and Grantor and their respective successors and assigns. Grantor shall not, without the prior written consent of
Beneficiary, assign any rights, duties or obligations hereunder. 

        SECTION 9.5    No Waiver.    Any failure by Beneficiary, any Benefited
Party or Trustee to insist upon strict performance of any of the terms, provisions or conditions of this Deed of Trust shall not be deemed to be a waiver thereof, and Beneficiary, the Benefited
Parties or Trustee have the right at any time to insist upon strict performance of all of such terms, provisions and conditions. 

        SECTION 9.6    Conflicting Provisions.    If any conflict exists
between this Deed of Trust and any Financing Agreement, such Financing Agreement shall govern. 

        SECTION 9.7    Release.    Upon payment in full of the Indebtedness
and performance in full of the Obligations, Beneficiary shall release this Deed of Trust in due form in accordance with applicable law at Grantor's expense. No release of this Deed of Trust or the
lien hereof shall be valid unless executed by Beneficiary. 

13

 

        SECTION 9.8    Waiver of Stay, Moratorium and Similar
Rights.    Grantor agrees, to the full extent that it may lawfully do so, that it will not at any time insist upon or plead or in any way take advantage of any stay,
marshalling of assets, extension, redemption or moratorium law now or hereafter in force and effect so as to prevent or hinder the enforcement of the provisions of this Deed of Trust or the
Indebtedness or Obligations secured hereby, or any agreement between Grantor and Beneficiary or any right or remedy of Beneficiary, the Benefited Parties or Trustee. 

        SECTION 9.9    Applicable Law.    This Deed of Trust is a contract
made under and intended to be construed in accordance with and governed by the laws of the State of Colorado. No defense given or allowed by the laws of any state or country shall be interposed in any
action or proceeding resulting from the enforcement of this Deed of Trust unless such defense is also given or allowed by the laws of the State of Colorado. 

        SECTION 9.10    Beneficiary as Collateral Agent; Successor Collateral
Agents.    

        (a)   Collateral
Agent has been appointed to act as Collateral Agent hereunder by the Benefited Parties. Collateral Agent has the right hereunder to make demands, to give
notices, to exercise or refrain from exercising any right, and to take or refrain from taking any action (including the release or substitution of the Mortgaged Property) in accordance with the terms
of the Intercreditor Agreement, any related agency agreement among Collateral Agent and the Benefited Parties (collectively, as amended, supplemented or otherwise modified or replaced from time to
time, the "Agency Documents") and this Deed of Trust. Grantor and all other Persons are entitled to rely on releases, waivers, consents, approvals,
notifications and other acts of Collateral Agent, without inquiry into the existence of required consents or approvals of the Benefited Parties therefor. 

        (b)   Beneficiary
shall at all times be the same Person that is Collateral Agent under the Agency Documents. Written notice of resignation by Collateral Agent pursuant to the
Agency Documents shall also constitute notice of resignation as Collateral Agent under this Deed of Trust. Removal of Collateral Agent pursuant to any provision of the Agency Documents shall also
constitute removal as Collateral Agent under this Deed of Trust. Appointment of a successor Collateral Agent pursuant to the Agency Documents shall also constitute appointment of a successor
Collateral Agent under this Deed of Trust. Upon the acceptance of any appointment as Collateral Agent by a successor Collateral Agent under the Agency Documents, that successor Collateral Agent shall
thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Collateral Agent as Beneficiary under this Deed of Trust, and the retiring or
removed Collateral Agent shall promptly (i) assign and transfer to such successor Collateral Agent all of its right, title and interest in and to this Deed of Trust and the Mortgaged Property,
and (ii) execute and deliver to such successor Collateral Agent such assignments and amendments and take such other actions, as may be necessary or appropriate in connection with the assignment
to such successor Collateral Agent of the Liens and security interests created hereunder, whereupon such retiring or removed Collateral Agent shall be discharged from its duties and obligations under
this Deed of Trust. After any retiring or removed Collateral Agent's resignation or removal hereunder as Collateral Agent, the provisions of this Deed of Trust and the Agency Documents shall inure to
its benefit as to any actions taken or omitted to be taken by it under this Deed of Trust while it was the Collateral Agent hereunder. 

14

 

        SECTION 9.11    Revolving Line of Credit Revolving
Provisions.    Grantor acknowledges and agrees that (a) the Credit Agreement evidences a revolving line of credit and indebtedness under the Credit Agreement
may be repaid and readvanced from time to time, (b) this Deed of Trust shall secure, to the fullest extent permitted by applicable law, the guaranty by Grantor of all additional or future
advances and readvances of principal under the Credit Agreement, (c) the line of credit evidenced by the Revolving Notes and secured by this Deed of Trust shall be used by the Company primarily
for business or commercial purposes, (d) this Deed of Trust shall remain in full force and effect, without loss of priority, until the payment in full of the indebtedness and obligations
secured hereby and the termination of all commitments of the Benefited Parties to extend credit to the Company and (e) this Deed of Trust shall not be extinguished as a result of the
indebtedness and obligations under the Credit Agreement having a zero balance from time to time (and, to the full extent permitted by applicable law, Grantor hereby waives the operation of any
applicable law, statutory or otherwise, having a contrary effect). 

        SECTION 9.12    Severability.    If any provision of this Deed of
Trust is or becomes invalid, illegal or unenforceable, such provision shall be deemed amended to conform to applicable laws so as to be valid and enforceable or, if it cannot be so amended without
materially altering the intention of the parties, it shall be stricken and the remainder of this Deed of Trust shall remain in full force and effect 

 
 

ARTICLE 10    
    
    EVIDENCE OF INDEBTEDNESS    
    

        For purposes of this Deed of Trust, the evidence of the Indebtedness secured hereby shall be a fully executed original of the Global Note, such that, for example,
the Global Note may be presented to Trustee as original evidence of the indebtedness secured hereby when seeking to foreclose on this Deed of Trust or securing any partial or complete release of this
Deed of Trust, and Trustee shall accept a signed original of the Global Note as the original evidence of indebtedness or "promissory note" for such purposes. 

 
 

ARTICLE 11    
    
    SUCCESSOR TRUSTEE    
    

        Unless otherwise prohibited by applicable law, Beneficiary acting alone may from time to time, by written instrument executed and acknowledged by Beneficiary,
mailed to Grantor and recorded in the county in which the Land is located, and by otherwise complying with the provisions of applicable law, substitute a successor or successors to Trustee named
herein or acting hereunder. 

[The remainder of this page has been intentionally left blank]

15

 

        IN WITNESS WHEREOF, Grantor has on the date set forth in the acknowledgement hereto, effective as of the date first above written, caused
this instrument to be duly EXECUTED AND DELIVERED by authority duly given. 

	TELETECH SERVICES CORPORATION,
 a Colorado corporation	 
	

By:	

 	

 	

 
	 	
	 
	Name:	 	 
	 	 	
	 
	Its:	 	 	 
	 	
	 

	STATE OF COLORADO	 	)	 	 
	 	 	)	 	ss
	COUNTY OF DOUGLAS	 	)	 	 

        The
foregoing was acknowledged before me this    day of October, 2003,
by                        as                 
       of TeleTech Services Corporation, a Colorado corporation. 

	WITNESS my hand and official seal.	 	 
	

 	
 	

 Notary Public
	

My Commission Expires:	
 	

 

16

 
 
 

EXHIBIT A    
    
    LEGAL DESCRIPTION    
    

Lot
1A, Meridian Office Park Filing No. 3, 1st Amendment

Lot 2, Meridian Office Park Filing No. 3 

County
of Douglas

State of Colorado 

Commonly
known as 9197 South Peoria Street, Douglas County, Colorado: 

17

QuickLinks

Exhibit 10.10

DEED OF TRUST, SECURITY AGREEMENT, ASSIGNMENT OF RENTS AND LEASES AND FIXTURE FILING (Colorado)

RECITALS

ARTICLE 1 DEFINITIONS AND INTERPRETATION

ARTICLE 2 GRANT

ARTICLE 3 REPRESENTATIONS AND WARRANTIES

ARTICLE 4 COVENANTS OF GRANTOR

ARTICLE 5 DEFAULT AND FORECLOSURE

ARTICLE 6 ASSIGNMENT OF RENTS AND LEASES

ARTICLE 7 SECURITY AGREEMENT

ARTICLE 8 CONCERNING THE TRUSTEE

ARTICLE 9 MISCELLANEOUS

ARTICLE 10 EVIDENCE OF INDEBTEDNESS

ARTICLE 11 SUCCESSOR TRUSTEE

EXHIBIT A LEGAL DESCRIPTION

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]