Document:

First Amendment to Amended and Restated Loan Agreement

 Exhibit 10.31 
 FIRST AMENDMENT 
 TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

This First Amendment To Amended and Restated Loan And Security Agreement (this “Amendment”) dated as of November 10, 2008, is
entered into by and among Bell Microproducts Inc., a California corporation (“Administrative Borrower”), Bell Microproducts – Future Tech, Inc., a California corporation (“Future Tech”), Rorke Data, Inc., a
Minnesota corporation (“Rorke”), Bell Microproducts Canada – Tenex Data ULC, a Nova Scotia unlimited liability company (“Tenex”), Total Tec Systems, Inc., a New Jersey corporation (“Total
Tec”), Forefront Graphics US Inc., an Ontario corporation (“Forefront” and together with Administrative Borrower, Future-Tech, Rorke, Tenex and Total Tec, individually, a “Borrower” and collectively,
“Borrowers”), Bell Microproducts Canada Inc., a California corporation (“Bell Micro Canada”), Bell Microproducts Mexico Shareholder, LLC, a Florida limited liability company (“Mexico Shareholder”),
Wachovia Capital Finance Corporation (Western), in its capacity as administrative agent for the financial institutions from time to time parties to the Loan Agreement (as defined below) as lenders (each individually, a “Lender” and
collectively, “Lenders”) (in such capacity, “Agent”), and Required Lenders (as defined in the Loan Agreement), with reference to the following facts: 
 RECITALS 
 A. Lenders are extending various secured financial
accommodations to Borrowers upon the terms of that certain Amended and Restated Loan and Security Agreement dated as of September 29, 2008 (the “Loan Agreement”). 
 B. Borrowers, Bell Micro Canada, Mexico Shareholder, Required Lenders and Agent now desire to amend the Loan Agreement and the Consent upon the terms and
conditions set forth herein. 
 AMENDMENT 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by each party hereto, Borrowers, Required Lenders and
Administrative Agent hereby agree as follows: 
 1. Defined Terms. Unless otherwise specified herein, any capitalized terms defined in the Loan
Agreement shall have the same respective meanings as used herein. 
 2. Amendment to Loan Agreement. Section 9.10(n) of the Loan Agreement is
hereby amended and restated, effective as of the date of the Loan Agreement (subject to the conditions set forth in Section 3 below), to read in its entirety as follows: 
 “(n) intercompany receivables owed by any Affiliate of a Borrower that is not a ‘Borrower’ hereunder to any Borrower, so long as
(i) no Event of Default exists and is continuing or would result from the existence of such receivable, and (ii) the aggregate amount of such intercompany receivables outstanding on the last day of each of the months set forth below
does not exceed the difference of the amount set forth 

  

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opposite such month minus the sum of investments heretofore or hereafter made in Bell Microproducts Brazil Holdings, LLC, a Minnesota limited liability
company, in connection with Net Storage Computers Ltd. as contemplated in Section 9.10(p): 
  

					
	 Months
	  	Amounts	 
	 Each month through and including November 2008
	  	$	60,000,000	  
		
	 Each month from December 2008 through February 2009, inclusive
	  	$	50,000,000	  
		
	 Each month from March 2009 through August 2009, inclusive
	  	$	45,000,000	  
		
	 Each month after August 2009
	  	$	40,000,000	” 

 3. Conditions to Effectiveness. The effectiveness of this Amendment is subject to the receipt by Agent or
the satisfaction of the following conditions precedent: 
 (a) Counterparts of this Amendment duly executed and delivered by Borrowers, Bell
Micro Canada, Mexico Shareholder, Agent and Required Lenders; 
 (b) No Event of Default or act, condition or event which with notice or
passage of time or both would constitute an Event of Default, shall exist; 
 (c) The representations and warranties set forth herein and in
the Loan Agreement shall be true and correct; and 
 (d) All other documents and legal matters in connection with the transactions
contemplated by this Amendment shall have been delivered or executed or recorded and shall be in form and substance satisfactory to Agent. 
 4.
Guarantors’ Acknowledgement. Bell Micro Canada and Mexico Shareholder each hereby acknowledge and consent to the terms, conditions and provisions of this Amendment and to the transactions contemplated hereby. Bell Micro Canada hereby
reaffirms its obligations under its Guarantee, dated as of May 14, 2001, and agrees that it is and shall remain responsible for the Obligations of Borrowers under the Loan Agreement as amended by this Amendment. Mexico Shareholder hereby
reaffirms its obligations under its Guarantee, dated as of October 9, 2003, and agrees that it is and shall remain responsible for the Obligations of Borrowers under the Loan Agreement as amended by this Amendment. 
 5. Representations and Warranties. Each Borrower and Guarantor reaffirms that the representations and warranties made to Lenders and Agent in the Loan Agreement
and other Financing Agreements are true and correct in all material respects as of the date of this Amendment as though made as of such date and after giving effect to this Amendment. In addition, each Borrower and Guarantor makes the following
representations and warranties to Lenders and Agent, which shall survive the execution of this Amendment. 
  

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 (a) The execution, delivery and performance of this Amendment are within each Borrower’s and
Guarantor’s powers, have been duly authorized by all necessary actions, have received all necessary governmental approvals, if any, and do not contravene any law or any contractual restrictions binding on any Borrower or Guarantor. 

(b) This Amendment is the legal, valid and binding obligation of each Borrower and Guarantor enforceable against each Borrower and Guarantor in
accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, moratorium and other similar laws affecting the rights of creditors generally. 
 (c) No event has occurred and is continuing, after giving effect to this Amendment, which constitutes an Event of Default under the Loan Agreement or any other of the Financing Agreements, or would constitute such an
Event of Default but for the requirement that notice be given or time elapse or both. 
 6. Continuing Effect of Financing Agreements. To the extent
of any inconsistencies between the terms of this Amendment and the Loan Agreement, this Amendment shall govern. In all other respects, the Loan Agreement and other Financing Agreements shall remain in full force and effect and are hereby ratified
and confirmed. 
 7. References. Upon the effectiveness of this Amendment, each reference in any Financing Agreements to “the Agreement”,
“hereunder,” “herein,” “hereof,” or of like import referring to the Loan Agreement shall mean and be a reference to the Loan Agreement as amended hereby. 
 8. Governing Laws. This Amendment, upon becoming effective, shall be deemed to be a contract made under, governed by, and subject to, and shall be construed in accordance with, the internal laws of the State of
California. 
 [remainder of page intentionally left blank] 
  

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 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have executed this
Amendment as of the date first set forth above, to become effective in the manner set forth above. 
  

									
	“Borrowers”	 		 	“Guarantors”
			
	BELL MICROPRODUCTS INC.	 		 	BELL MICROPRODUCTS CANADA INC.
					
	By:	 	 /s/ W. Donald Bell
	 		 	By:	 	 /s/ W. Donald Bell

	Name:	 	 W. Donald Bell
	 		 	Name:	 	 W. Donald Bell

	Title:	 	 President & CEO
	 		 	Title:	 	 President

			
	BELL MICROPRODUCTS – FUTURE TECH, INC.	 		 	BELL MICROPRODUCTS MEXICO SHAREHOLDER, LLC
					
	By:	 	 /s/ Andrew S. Hughes
	 		 	By:	 	 /s/ W. Donald Bell

	Name:	 	 Andrew S. Hughes
	 		 	Name:	 	 W. Donald Bell

	Title:	 	 Vice President & Secretary
	 		 	Title:	 	 Authorized Representative

				
	RORKE DATA, INC.	 		 		 	
					
	By:	 	 /s/ Andrew S. Hughes
	 		 		 	
	Name:	 	 Andrew S. Hughes
	 		 		 	
	Title:	 	 Vice President & Secretary
	 		 		 	
				
	BELL MICROPRODUCTS CANADA – TENEX DATA ULC	 		 		 	
					
	By:	 	 /s/ W. Donald Bell
	 		 		 	
	Name:	 	 W. Donald Bell
	 		 		 	
	Title:	 	 President
	 		 		 	
				
	TOTAL TEC SYSTEMS, INC.	 		 		 	
					
	By:	 	 /s/ Andrew S. Hughes
	 		 		 	
	Name:	 	 Andrew S. Hughes
	 		 		 	
	Title:	 	 Vice President & Secretary
	 		 		 	

  

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	FOREFRONT GRAPHICS US, INC.	 		 		 	
					
	By:	 	 /s/ Andrew S. Hughes
	 		 		 	
	Name:	 	 Andrew S. Hughes
	 		 		 	
	Title:	 	 Vice President & Secretary
	 		 		 	
				
	“Agent and Lenders”	 		 		 	
				
	WACHOVIA CAPITAL FINANCE CORPORATION (WESTERN), as Agent and Lender	 		 		 	
					
	By:	 	 /s/ Gary Whitaker
	 		 		 	
	Name:	 	 Gary Whitaker
	 		 		 	
	Title:	 	 Director
	 		 		 	
				
	BANK OF AMERICA, N.A., as Lender	 		 		 	
					
	By:	 	  
	 		 		 	
	Name:	 	  
	 		 		 	
	Title:	 	  
	 		 		 	
				
	THE CIT GROUP/BUSINESS CREDIT, INC., as Lender	 		 		 	
					
	By:	 	 /s/ Kirk Wolverton
	 		 		 	
	Name:	 	 Kirk Wolverton
	 		 		 	
	Title:	 	 Vice President
	 		 		 	
				
	WELLS FARGO FOOTHILL, LLC, as Lender	 		 		 	
					
	By:	 	 /s/ Juan Barrera
	 		 		 	
	Name:	 	 Juan Barrera
	 		 		 	
	Title:	 	 Vice President
	 		 		 	

  

 5First Amendment to Amended and Restated Credit Agreement

 Exhibit 10.32 
 FIRST AMENDMENT TO 
 AMENDED AND RESTATED CREDIT AGREEMENT 
 This First Amendment to Amended and Restated Credit Agreement (this “Amendment”) is made effective as of December 23, 2008
(the “Effective Date”), by and among The Teachers’ Retirement System of Alabama (“Teachers’ Retirement System”), The Employees’ Retirement System of Alabama (“Employees’
Retirement System”), Judicial Retirement Fund, PEIRAF-Deferred Compensation Plan, and Public Employees Individual Retirement Account Fund, (each, a “Lender” and collectively, the
“Lenders”), Teacher’s Retirement System, as Agent for the Lenders (the “Agent”) and Bell Microproducts Inc., a California corporation (the “Borrower”). 
 R E C I T A L S 
 A. Borrower and the
Lenders, including the Agent, are parties to that certain Amended and Restated Credit Agreement, dated as of June 30, 2008 (the “Credit Agreement”). Unless otherwise defined in this Amendment, capitalized terms used herein have
the meanings ascribed thereto in the Credit Agreement. 
 B. In accordance with the Credit Agreement, Borrower has agreed to grant a security
interest in its Accounts to and for the benefit of the Lenders and the Agent, which security interest shall be subordinate in all respects to the security interests in such Accounts in favor of the holders of Senior Indebtedness, on the terms and
conditions set forth in this Amendment and in a new Security Agreement, all as more particularly described below. 
 NOW THEREFORE, in
consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 

Section 1. Certain Acknowledgments. 
 (a) The Borrower hereby represents and warrants to the Lenders and the Agents that, pursuant to that certain Amended and Restated Loan and Security Agreement among the Borrower, Bell Microproducts – Future Tech,
Inc., Rorke Data, Inc., Bell Microproducts Canada – Tenex Data ULC, Total Tec Systems, Inc. and Forefront Graphics US Inc., as borrowers, Bell Microproducts Canada Inc., and Bell Microproducts Mexico Shareholder, LLC, as guarantors, Wachovia
Capital Finance Corporation (Western) (“Wachovia Capital Finance”), as Administrative Agent, Bank of America, N.A., as Co-Agent (together with Wachovia Capital Finance, the “Senior Bank Agents”), and the other
lenders named therein, dated as of September 29, 2008 (the “New Senior Credit Agreement”), the Borrower and the other credit parties named therein have refinanced both the indebtedness previously evidenced and governed by the
Wachovia Bank Group Senior ABL Agreement and the indebtedness previously evidenced and governed by the Wachovia Bank Group Senior ABS Agreement, and that the Wachovia Bank Group Senior ABS Agreement has been effectively terminated. 
  

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 (b) Pursuant to the Credit Agreement, a refinancing, refunding, renewal or extension of the Senior
Indebtedness referred to in Section 1(a) above will, itself, constitute “Senior Indebtedness”, as that term is defined in the Credit Agreement; provided, that any increase in the principal amounts of any such Indebtedness incurred in
connection with any such extension, renewal, refunding or refinancing will not constitute Senior Indebtedness unless, at the time of such extension, renewal, refunding or refinancing, no Event of Default or Default then exists and, on a pro forma
basis (assuming the full funding of such increased principal Indebtedness), the financial covenants contained in Sections 6.2(a), 6.2(g) and 6.2(h) of the Credit Agreement are satisfied. Accordingly, on or prior to the date hereof, Borrower has
delivered to the Agent the certificate described in Section 4(g) below, evidencing the satisfaction of the foregoing financial covenants (the “Amendment Certificate”). 
 (c) Each of the Lenders and Agent hereby acknowledge that, based on the Amendment Certificate, the indebtedness evidenced and governed by the New Senior
Credit Agreement constitutes “Senior Indebtedness”, as that term is defined in the Credit Agreement. 
 Section 2. Grant
of Security Interest in Borrower’s Accounts. Pursuant to Section 2.4(c) of the Credit Agreement, the Borrower hereby agrees to grant a security interest in and to all of the Borrower’s Accounts, as additional Collateral for
all of the Obligations, which security interest shall be subordinate in all respects to the Senior Indebtedness, but senior to any other claim with respect to such Accounts. Accordingly, and in order to ratify and confirm the previous grant of
security interests in the Collateral owned by the Borrower as security for the Obligations pursuant to the 2000 Security Agreement and the 2007 Security Agreement, the Borrower hereby agrees to execute and deliver a Security Agreement in favor of
the Agent and the Lenders, in substantially the form set forth as Exhibit A attached hereto (and with all attachments thereto completed), which Security Agreement will be delivered contemporaneously with the execution and delivery of this
Agreement. 
 Section 3. Conditions to Effectiveness. The effectiveness of the Lenders’ agreements contained in this
First Amendment are subject to the satisfaction of the following conditions: 
 (a) Executed Documents. Each of the
Lenders and the Agent shall have received fully executed copies of this Amendment and the Security Agreement referred to in Section 2 hereof, each in form and substance satisfactory to it and its counsel. 
 (b) Consent of Holders of Senior Indebtedness. The Borrower shall have obtained, and provided to the Lenders and the Agent
(i) the consent of the holders of the Senior Indebtedness outstanding under the New Senior Credit Agreement (or, if authorized to do so, the Senior Agents) to the amendment of the Credit Agreement in the manner contemplated herein, and to the
grant of the security interest in Borrower’s Accounts pursuant to the Security Agreement referred to in Section 2 hereof, and (ii) the waiver of the prohibitions and restrictions applicable to this Amendment contained in the New
Senior Credit Agreement (including, without limitation, the provisions of Section 9.9 thereof). 
  

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 (c) Payment of Fees and Expenses. The Borrower shall have paid to the Agent the
reasonable legal fees and expenses of the Lenders’ and Agent’s legal counsel incurred in connection with this Amendment. 
 (d) Attachments to Security Agreements. To the extent not previously provided to the Agent, the Borrower shall have provided to the Agent fully completed Attachments to each of the Security Agreements referred to in
Section 2.4(b) of the Credit Agreement. 
 (e) No Default. No Default or Event of Default under the Credit
Agreement shall exist. 
 (f) Representations and Warranties; Performance of Covenants. The representations and
warranties of the Borrower contained herein and in the Credit Agreement shall be correct in all material respects and the Borrower shall have performed each of the covenants on its part to be performed under the Credit Agreement. 
 (g) Amendment Certificate. The Borrower shall have executed and delivered to the Agent the Amendment Certificate described in
Section 1(b) hereof. 
 Section 4. Representations and Warranties. The Borrower hereby represents and warrants to and
for the benefit of the Lenders and the Agent as follows: 
 (a) The execution, delivery and performance by the Borrower of this
Amendment and the performance by the Borrower of the Credit Agreement, as amended hereby, (i) have been duly authorized by all requisite corporate action on the part of the Borrower, (ii) do not require the consent or approval of any
Governmental Authority or any third party, (iii) do not and will not violate (A) any provision of any law, statute, rule or regulation or the certificate of incorporation or by-laws of the Borrower, (B) any order of any court,
administrative body or arbitrator or any rule regulation or order of any Governmental Authority binding upon the Borrower or any of its Subsidiaries, or any of their respective properties, or (C) any provision of any loan or credit agreement,
indenture, mortgage or other agreement or instrument to which the Borrower or any of its Subsidiaries is a party or by which any of them or any of their respective properties are or may be bound, and (iv) do not and will not result in any
breach of, constitute (alone or with notice or lapse of time or both) a default under or trigger to any right of acceleration under, any such loan or credit agreement, indenture, mortgage or other agreement or instrument. 
 (b) As of the date hereof, and after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing under the Credit
Agreement and the Notes. 
 (c) This Amendment, and the Credit Agreement as amended hereby, constitute legal, valid and binding obligations
of the Borrower, enforceable against the Borrower in accordance with their terms, except such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
  

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 Section 5. Miscellaneous. 
 (a) The Borrower shall pay all reasonable fees and expenses, including reasonable attorneys’ fees and expenses, incurred by the Agent or the Lenders
in connection with the transactions contemplated by this Amendment. 
 (b) No term, covenant, agreement or condition of this Amendment or the
Credit Agreement as amended hereby may be amended or waived unless such amendment or waiver is in writing and is signed by the Borrower, the Agent and each of the Lenders. No failure or delay by the Agent or any Lender in exercising any right
hereunder, or under the Credit Agreement as amended hereby, shall operate as a waiver thereof or of any other right nor shall any single or partial exercise of any such right preclude any other further exercise thereof or of any other right. Unless
otherwise specified in such waiver or consent, a waiver or consent given hereunder shall be effective only in the specific instance and for the specific purpose for which given. 
 (c) This Amendment is intended as a separate agreement between the Borrower, on the one hand, and the Agent and each of the Lenders, on the other hand.
This Amendment shall be construed together with and as part of the Credit Agreement and the Notes. Except as expressly amended pursuant to this Amendment, the terms, covenants and conditions contained in the Credit Agreement and the Notes are hereby
ratified and confirmed in all respects and each of the Notes and, as amended hereby, the Credit Agreement, shall remain in full force and effect. Any and all notices, requests, certificates and other instruments executed and delivered subsequent to
the date of the effectiveness of this Amendment may refer to the Credit Agreement without making specific reference to this Amendment, and all such references nevertheless shall be deemed to include, unless the context otherwise requires, this
Amendment. 
 (d) This Amendment, and the Credit Agreement as amended hereby shall be governed by and construed in accordance with the laws
of the State of Alabama, without regard to its conflicts of laws principles. 
 (e) This Amendment may be executed in any number of identical
counterparts, any set of which signed by all the parties hereto shall be deemed to constitute a complete, executed original for all purposes. 
 (The signature pages follow) 
  

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 IN WITNESS WHEREOF, the Borrower, the Agent and the Lenders have caused this First Amendment to Amended
and Restated Credit Agreement to be executed as of the day and year first above written. 
  

					
	THE BORROWER:	 	BELL MICROPRODUCTS INC.
			
		 	By:	 	 /s/ William E. Meyer

		 	Name:	 	William E. Meyer
		 	Title:	 	Executive Vice President and Chief Financial Officer
		
	THE LENDERS:	 	THE TEACHERS’ RETIREMENT SYSTEM OF ALABAMA
			
		 	By:	 	 /s/ David G. Bronner

		 	Name:	 	David G. Bronner
		 	Title:	 	Chief Executive Officer
		
		 	THE EMPLOYEES’ RETIREMENT SYSTEM OF ALABAMA
			
		 	By:	 	 /s/ David G. Bronner

		 	Name:	 	David G. Bronner
		 	Title:	 	Chief Executive Officer
		
		 	STATE EMPLOYEES’ HEALTH INSURANCE FUND
			
		 	By:	 	 /s/ David G. Bronner

		 	Name:	 	David G. Bronner
		 	Title:	 	Chief Executive Officer
		
		 	JUDICIAL RETIREMENT FUND
			
		 	By:	 	 /s/ David G. Bronner

		 	Name:	 	David G. Bronner
		 	Title:	 	Chief Executive Officer
		
		 	PEIRAF-DEFERRED COMPENSATION PLAN
			
		 	By:	 	 /s/ David G. Bronner

		 	Name:	 	David G. Bronner
		 	Title:	 	Chief Executive Officer
		
		 	PUBLIC EMPLOYEES INDIVIDUAL RETIREMENT ACCOUNT FUND
			
		 	By:	 	 /s/ David G. Bronner

		 	Name:	 	David G. Bronner
		 	Title:	 	Chief Executive Officer

  

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