Document:

exv10w75

 

Exhibit 10.75

Guaranty Agreement

Name and address of Guarantor:

FID#

RECITALS

A. Pursuant to the terms of a security agreement and promissory note each dated and any other
agreements related thereto (collectively, the “Agreements) which have been or will be entered
Startek Canada Services, Ltd. (hereinafter the “Obligor”), with, or in favor of, Wells Fargo
Equipment Finance Company (hereinafter, the “Obligee”), Obligor has incurred, will incur or may
incur indebtedness and /or obligations to Obligee as more fully set forth in the Agreements.

B. Obligee has required, as a condition of entering into the Agreements, that the payment and
performance of all indebtedness and obligations of Obligor to Obligee of every kind and
description, direct or indirect, primary or secondary, absolute or contingent or due or to become
due, whether by acceleration or otherwise, and any and all renewals, modifications, supplements,
amendments and extensions of the foregoing, whether now or thereafter arising under or in
connection with the Agreements, (all of such indebtedness and obligations being hereinafter
referred to as the “Indebtedness”), be guaranteed by Guarantor.

TERMS AND CONDITIONS

1. Guaranty of Payment. In order to induce Obligee to enter into the Agreements and to advance the
loans or pay for equipment in connection therewith and for other good and valuable consideration
the receipt and sufficiency of which is hereby acknowledged by Guarantor, Guarantor hereby
unconditionally guarantees to Obligee (a) the due and punctual payment of the Indebtedness, when
and as the same shall become due and payable whether at maturity or by required prepayment, notice
of optional prepayment, acceleration or otherwise and (b) the due and punctual performance of all
other obligations arising under or relating to the Indebtedness. Such guaranty is an absolute,
unconditional, continuing guaranty of payment and not of collectibility, and is in no way
conditioned or contingent upon any attempt to collect from Obligor or from any other person, firm
or corporation obligated with respect to, or any guarantor of, the Indebtedness or upon any other
condition or contingency. In case Obligor shall fail to pay punctually any of the Indebtedness, or
any premium or interest thereon, when and as the same shall become due and payable, Guarantor will
upon demand immediately pay the same to Obligee.

2. Costs and Expenses. Guarantor will pay all costs and expenses incurred by or on behalf of
Obligee (including, without limitation, reasonable attorneys’ fees and expenses) in enforcing the
obligations of Guarantor hereunder, and the obligations of Obligor with respect to the
Indebtedness.

3. Obligations of Guarantor Not Affected. The obligations of Guarantor shall remain in full force
and effect without regard to and shall not be affected or impaired in any respect by: (a) any
assignment, transfer, amendment, modification, rescission or cancellation of or addition or
supplement to the Agreements or any other agreement or guaranty in respect of the Indebtedness or
collateral held for the Indebtedness; (b) the invalidity, illegality or unenforceability of the
Agreements or any other agreement or guaranty in respect of the Indebtedness or collateral held for
the Indebtedness; (c) any exercise, non-exercise, waiver, release or cancellation by Obligee of any
right, remedy, power or privilege under or in respect of the Agreements or any other agreement or
guaranty in respect of the Indebtedness or collateral held for the Indebtedness, including, without
limitation, the taking, release, discharge, exchange, surrender or disposition of collateral held
for the Indebtedness; (d) any consent, extension, indulgence, or other action, inaction or omission
under or in respect of the Agreements or any other agreement or guaranty in respect of the
Indebtedness or collateral held for the Indebtedness; (e) the death of Guarantor; (f) any purported
termination by Guarantor of this Guaranty Agreement not expressly permitted hereby; or (g) any
other cause or circumstance whatsoever, including, without limitation, any other act, thing,
omission or delay which would or might in any manner or to any extent vary the risk of Guarantor or
which would or might otherwise operate as a discharge of Guarantor as a matter of law; whether or
not Guarantor shall have notice or knowledge of any of the foregoing. This Guaranty Agreement
shall remain in full force and effect and shall not be terminable except with the prior written
consent of Obligee so long as any agreement or arrangement between Obligee and Obligor or any
renewals, continuations, modifications, supplements and amendments thereof shall remain in force
and effect. Thereafter this instrument shall continue in full force and effect until terminated by
the actual receipt by Obligee by registered or certified mail of notice of termination from
Guarantor or from the legal representative of any deceased Guarantor; such termination shall be
applicable only to transactions having their inception thereafter, and rights and obligations
arising out of transactions having their inception prior to such termination shall not be affected.

4. Waivers. The following are unconditionally waived by Guarantor: (a) notice of any of the
matters referred to in Section 3, (b) all notices which may be required by statute, rule or law or
otherwise to preserve any rights of Obligee against Obligor or Guarantor, including, without
limitation, notice of presentment and protest to, and demand and payment from, Obligor or Guarantor
(c) any right to the enforcement, assertion, exercise or non-exercise by Obligee of any right,
power or remedy conferred in the Agreement or any other agreement whatsoever, (d) any right of
subrogation, reimbursement or indemnity, and any right of recourse to or with respect to any assets
or property of Obligor or to any collateral for any Indebtedness, unless and until Obligee shall
have received and retained full payment of all of the Indebtedness, and (e) any requirement of
diligence on the part of Obligee.

 

 

 

5. Bankruptcy or Insolvency. Guarantor agrees that if Obligor or Guarantor should at any time
become insolvent or make a general
assignment for the benefit of its creditor, or if a petition in bankruptcy or any insolvency,
liquidation, reorganization, arrangement, readjustment, composition, dissolution or other similar
proceeding shall be filed or commenced by, against or in respect of Obligor or Guarantor, or if an
order for relief shall be entered in respect of Obligor or Guarantor in any case under the
Bankruptcy Code, the obligations of Guarantor hereunder shall remain in full force and effect; and
any and all obligations of Obligor and Guarantor to Obligee shall, at the option of Obligee,
forthwith become due and payable without notice.

6. Notices. All notices and other communications hereunder shall be in writing and shall be
delivered or mailed by certified or registered mail, return receipt requested, addressed to the
respective addresses of the parties hereto designated above in this Guaranty Agreement, or
addressed to any such party at such other address such party shall hereafter have furnished to the
other party in writing.

7. Consent to Jurisdiction; Waiver of Jury Trial. Guarantor hereby irrevocably consents to the
jurisdiction of the courts of the State of New York and of any federal court located in such state
and to the courts of the Province of Ontario and of any Canadian federal court located in such
Province in connection with any action or proceeding arising out of or relating to this Guaranty
Agreement. Guarantor waives any objections based upon venue or forum non conveniens in connection
with any action or proceeding brought in New York or Ontario. GUARANTOR HEREBY WAIVES ANY RIGHT TO
TRIAL BY JURY WITH RESPECT TO ANY ACTION, SUIT OR PROCEEDING COMMENCED BY OBLIGEE, OBLIGOR,
GUARANTOR OR OTHERWISE IN CONNECTION WITH THIS GUARANTY AGREEMENT OR ANY OF THE AGREEMENTS. THIS
WAIVER HAS BEEN SPECIFICALLY NEGOTIATED BY THE PARTIES WITH FULL COGNIZANCE AND UNDERSTANDING OF
THEIR RIGHTS.

8. Law of New York. This Guaranty Agreement shall in all respects be governed by and construed in
accordance with the internal laws of the State of New York, without reference to principles of
conflict of laws.

9. Miscellaneous. Neither this Guaranty Agreement nor any term hereof may be changed, waived,
discharged or terminated orally, but only by an instrument in writing signed by the party against
which enforcement of the change, waiver, discharge or termination is sought. All the terms of this
Guaranty Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, representatives, successors and assigns, and in particular shall be enforceable
by any holder or holders from time to time of the Indebtedness or any part thereof. Guarantor
agrees and consents that Obligee shall have the right to assign or transfer this Guaranty Agreement
or any of Obligee’s rights or powers hereunder to any other person, firm or corporation and such
assignment shall not affect the liability of Guarantor hereunder. The books and records of Obligee
showing the account between Obligee and Obligor shall be admissible in evidence in any action or
proceeding, shall be binding upon Guarantor for the purpose of establishing the items therein set
forth, and shall constitute prima facie proof thereof. In the event that there shall be more than
one Guarantor, the obligations of each Guarantor shall be both joint and several.

Guarantor agrees to all the provisions set forth above. This agreement is executed pursuant to due
authorization.

Date November 17 ,   2006

<Company Name>

	 	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	Its

	 	 
 

	 	 

	 	 	 	 	 
	Attest:

	 	 	 	[Seal]
	 

	 	 	 	 
	Secretaryexv10w76

 

Exhibit 10.76

PROMISSORY NOTE

Dated as of November 13, 2006

For value received, the undersigned, hereby promises to pay to the order of Wells Fargo Equipment
Finance, Inc. (the “Lender”) at its office in Minneapolis, MN, or at such other place as may be
designated from time to time by the holder hereof, the sum of $5,521,374.24 in installments
according to the schedule set forth below; provided, however, that the undersigned and the Lender
may agree to any other payment schedule, in which case any variations shall be set forth in the
space provided for additional provisions. The first payment period shall begin on the 15th day of
the month in which Lender disburses the loan proceeds if disbursement is made on or before the 15th
day of such month, and the first payment period shall begin on the last day of such month if
disbursement is made during the balance of such month. The first installment shall be payable on
the first payment due date set forth below (which may be the same as the date the first payment
period begins). Subsequent installments shall be payable on the first day of each payment period
beginning after the first payment period. The undersigned agrees that the date the first payment
period begins may be left blank when this Note is executed and hereby authorizes Lender to insert
such date based upon the date the loan proceeds are disbursed.

	 	 	 
	PAYMENT SCHEDULE:
	 	 
	Date first payment period begins:

	 	First payment due:
	Number of Installments:     48

	 	Amount of each installment:     $115,028.63 
	Payment period:     Monthly

	 	Annual Interest rate used in computing payment schedule:     6.38%
	Principal amount of loan proceeds disbursed:     $4,861,806.81 

In addition to installment payments as set forth above, the undersigned agrees to pay Lender
interim interest on the loan proceeds disbursed hereunder from the date of disbursement to the date
the first payment period begins at the annual interest rate set forth above used in computing the
payment schedule. Interim interest shall be due and payable on the date the first payment period
begins.

If any installment is not paid when due, then in addition to any other remedy Lender may have
hereunder, Lender may impose and, if imposed, the undersigned shall pay a late charge of 5% of the
amount of the delinquent installment but in any event not more than permitted by applicable law.
Payments thereafter received shall be applied first to delinquent installments and then to current
installments.

This Note may be prepaid in whole at any time without penalty by paying to Secured Party the unpaid
principal balance of this Note, determined by using the simple interest method at the rate set
forth herein, together with accrued but unpaid interest and late charges.

This Note may be prepaid in part but only as a result of a disposition of an item of collateral
which secures this Note. The amount of such prepayment shall be the product of the unpaid
principal balance of this Note determined in accordance with the preceding paragraph times a
fraction, the numerator of which is the original advance made by the Lender with respect to the
item of collateral in question and the denominator of which is the original principal balance of
this Note with respect to the existing collateral securing this Note, together with accrued but
unpaid interest multiplied by the same fraction, plus a prepayment premium equal to the percentage
set forth in the preceding paragraph times the principal amount prepaid. Nothing contained in this
paragraph shall be construed as an authorization by Lender to the undersigned to sell or otherwise
dispose of an item of collateral which secures this Note. Such sale or disposition of an item of
collateral by the undersigned shall be made solely in accordance with the terms of the security
agreement or other agreement pursuant to which the undersigned pledged such item of collateral to
Lender.

The undersigned may remit to Lender amounts in excess of an installment that is due hereunder and
Lender shall apply such amount to the next maturing installment or installments. Payment of
amounts in excess of the installment that is due or installments prior to the due date thereof
shall not be treated as a prepayment or result in a change to either the total number of
installments or the total sum of all installments payable under this Note.

The following shall constitute an Event of Default hereunder: (a) failure to pay any installment
hereunder when due; (b) the occurrence of an event of default as defined in any security agreement
or mortgage securing this Note; (c) the commencement of any bankruptcy or insolvency proceedings by
or against the undersigned or any guarantor of this Note; and (d) any indebtedness the undersigned
may now or hereafter owe to Lender or any affiliate thereof shall be accelerated following a
default thereunder or, if any such indebtedness is payable on demand, payment thereof shall be
demanded. Upon the occurrence of an Event of Default, Lender may do any one or more of the
following as it may elect: (i) upon written notice to the undersigned, declare the entire unpaid
balance of the Note to be immediately due and payable, and the same (less unearned interest
computed using a discount rate of 4% and the simple interest method as if this Note had been paid
in full on the date it became due and payable) shall thereupon be and become immediately due and
payable: (ii) exercise any one or more of the rights and remedies available to it under any
security agreement or mortgage securing this Note or under any other agreement or by law.

The undersigned hereby waives presentment, notice of dishonor, and protest. The undersigned agrees
to pay all costs of collection of this Note, including reasonable attorneys’ fees. The holder
hereof may change the terms of payment of the Note by extension, renewal or otherwise, and release
any security for, or party to, this Note and such action shall not release any accommodation maker,
endorser, or guarantor from liability on this Note.

THIS AGREEMENT INCLUDES THE TERMS ON THE ATTACHED PAGE(S).

IN WITNESS WHEREOF the Debtor has signed this Agreement as of the date first above written.

StarTek USA, Inc.

Debtor

/s/ Steve Butler

By

CEO

Title

 

 

 

Notwithstanding anything to the contrary contained herein, if the rate of interest, late payment
fee, prepayment premium or any other charges or fees due hereunder are determined by a court of
competent jurisdiction to be usurious, then said interest rate, fees and/or charges shall be
reduced to the
maximum amount permissible under applicable law and any such excess amounts shall be applied
towards the reduction of the principal balance of this Note.

This Note shall be construed and enforced in accordance with, and the rights of the parties shall
be governed by, the laws of the state of Minnesota without regard to conflicts of law rules. THE
UNDERSIGNED HEREBY WAIVES ANY RIGHT TO A JURY TRIAL WITH RESPECT TO ANY MATTER UNDER OR IN
CONNECTION WITH THIS NOTE.

If Debtor is not an individual, (i) the execution, delivery and performance of this Note has been
duly authorized by all necessary action on the part of Debtor and will not violate any provision of
Debtor’s governing documents; (ii) the person signing on behalf of Debtor is duly authorized; and
(iii) this Note constitutes a legal, valid and binding obligation of Debtor.

If this Note is signed by more than one person as Debtor, then the term “Debtor” shall refer to
each of them separately and to all of them jointly, and each such person shall be liable hereunder
individually in full and jointly with the others.

Ver. 0906

 

 

 

SECURITY AGREEMENT

Dated as of November 13, 2006

Contract Number 0127395-700

Name and Address of Debtor:

StarTek USA, Inc.

44 Cook Street Ste 400

Denver, CO 80206

 

	1.	 	Security Interest and Collateral. To secure the payment and performance of each and every
debt, liability and obligation of every type and description which Debtor may now or at any
time hereafter owe to Wells Fargo Equipment Finance, Inc. (“Secured Party”) (whether such
debt, liability or obligation now exists or is hereafter created or incurred, whether it is
currently contemplated by the Debtor and Secured Party, whether any documents evidencing it
refer to the Security Agreement, and whether it is or may be direct or indirect, due or to
become due, absolute or contingent, primary or secondary, liquidated or unliquidated, or
joint, several or joint and several; all such debts, liabilities and obligations being herein
collectively referred to as the “Obligations”), Debtor hereby grants Secured Party a security
interest (herein called the “Security Interest”) in the following property (herein called the
“Collateral”):
	 
	 	 	The Equipment described on Schedule A attached hereto and made a part hereof.
together with all substitutions and replacements for and products of the Collateral, all
proceeds, accessories, attachments, parts, equipment and repairs now or hereafter attached or
affixed to or used in connection with the Collateral.
	 
	2.	 	Representations, Warranties and Agreements. Debtor represents, warrants and agrees that:

	 	(a)	 	Authorization. If Debtor is not an individual, (i) the execution, delivery and
performance of this Agreement has been duly authorized by all necessary action on the part
of the Debtor and will not violate any provision of the Debtor’s governing documents; and
(ii) the person signing this Agreement on behalf of the Debtor is duly authorized.
	 
	 	(b)	 	Office Location and Organization. Debtor’s chief executive office (if Debtor is a
corporation, a partnership or a limited liability company) is located at the address for
Debtor shown above. Debtor will not change the location of its chief executive office or
his/her residence, as the case may be, or its state of organization or form of organization
(if Debtor is a corporation, a partnership or a limited liability company) without first
giving Secured Party at least 10 days prior written notice of the proposed change.
	 
	 	(c)	 	Business Purpose; Lawful Use. The Equipment will be used primarily for business purposes
as opposed to personal, family or household purposes. Debtor will comply with all laws and
regulations applicable to the Equipment and its use.

	3.	 	Additional Representations, Warranties and Agreements. Debtor represents, warrants and agrees
that:

	 	(a)	 	Debtor has (or will have at the time Debtor acquires rights in Collateral hereafter
arising) absolute title to each item of Collateral free and clear of all security interests,
liens and encumbrances, except the Security Interest and will defend the Collateral against
all claims or demands of all persons other than Secured Party. Debtor will not sell or
otherwise dispose of the Collateral or any interest therein without the prior written
consent of Secured Party.
	 
	 	(b)	 	Debtor will not permit any Collateral to be located in any state (and, if county filing
is required, in any county) in which the financing statement covering such Collateral is
required to be, but has not in fact been, filed in order to perfect the Security Interest.
	 
	 	(c)	 	Debtor will (i) keep all Collateral in good repair, working order and condition, normal
depreciation excepted, and will, from time to time, replace any worn, broken or defective
parts thereof; (ii) promptly pay all taxes and other governmental charges levied or assessed
upon or against any Collateral or upon or against the creation, perfection or continuance of
the Security Interest; (iii) keep all Collateral free and clear of all security interests,
liens and encumbrances except the Security Interest; (iv) at all reasonable times, permit
Secured Party or its representatives to examine or inspect any Collateral, wherever located,
and to examine, inspect and copy Debtor’s books and records pertaining to the Collateral and
its business and financial condition; (v) keep accurate and complete records pertaining to
Debtor’s business and financial condition and submit to Secured Party such periodic reports
concerning Debtor’s business and financial condition as Secured Party may from time to time
reasonably request; (vi) promptly notify Secured Party of any loss of or material damage to
any Collateral; (vii) at all times keep all Collateral insured against risks of fire
(including so-called extended coverage), theft, collision (in case of Collateral consisting
of motor vehicles) and such other risks and in such amounts as Secured Party may reasonably
request, with any loss payable to Secured Party to the extent of its interest and with a
provision requiring the insurer to notify Secured Party in writing at least 10 days prior to
cancellation or modification of any such policy, (viii) from time to time execute such
financing statements as Secured Party may reasonably require in order to perfect the
Security Interest and, if any Collateral consists of a motor vehicle, execute such documents
as may be required to have the Security Interest properly noted on a certificate of title;
(ix) pay when due or reimburse Secured Party on demand for all costs of collection of any of
the Obligations and all other out-of-pocket expenses (including in each case all reasonable
attorneys’ fees) incurred by Secured Party in connection with the creation, perfection,
satisfaction, protection, defense or enforcement of the Security Interest or the creation,
continuance, protection, defense or enforcement of this Agreement or any or all of the
Obligations, including expenses incurred in any litigation or bankruptcy or insolvency
proceedings; (x) execute, deliver or endorse any and all instruments, documents,
assignments, security agreements and other agreements and writings which Secured Party may
at any time reasonably request in order to secure, protect, perfect or enforce the Security
Interest and Secured Party’s rights under this Agreement; (xi) not use or keep any
Collateral, or permit it to be used or kept, for any unlawful purpose or in violation of any
federal, state or local law, statute or ordinance; and (xii) not permit any Collateral to
become part of or to be affixed to any real property without first assuring to the
reasonable satisfaction of Secured Party that the Security Interest will be prior and senior
to any interest or lien then held or thereafter acquired by any mortgagee of such real
property or the owner or purchaser of any interest therein. If Debtor at any time fails to
perform or observe any agreement contained in this Section 3(c), and if such failure shall
continue for a period of ten calendar days after Secured Party gives Debtor written notice
thereof (or, in the case of the agreements contained in clauses (vii) and (viii) of this
Section 3(c), immediately upon the occurrence of such failure, without notice or lapse of
time), Secured Party may (but need not) perform or observe such agreement on behalf and in
the name, place and stead of Debtor (or, at

THIS AGREEMENT INCLUDES THE TERMS ON THE ATTACHED PAGE(S)

StarTek USA, Inc.

Debtor

/s/ Steve Butler

By

CEO

Title

 

 

 

	 	 	Secured Party’s option, in Secured Party’s own name) and may (but need not) take any and all
other actions which Secured Party may reasonably deem necessary to cure or correct such failure
(including, without limitation, the payment of taxes, the satisfaction of security interests,
liens, or encumbrances, the procurement and maintenance of insurance, the execution of financing
statements, the endorsement of instruments, and the procurement of repairs, transportation or
insurance); and, except to the extent that the effect of such payment would be to render any loan
or forbearance of money usurious or otherwise illegal under any applicable law Debtor shall
thereupon pay Secured Party on demand the amount of all moneys expended and all costs and
expenses (including reasonable attorneys’ fees) incurred by Secured Party in connection with or
as a result of Secured Party’s performing or observing such agreement or taking such actions,
together with interest thereon from the date expended or incurred by Secured Party at the highest
rate then applicable to any of the Obligations. To facilitate the performance or observance by
Secured Party of such agreements of Debtor, Debtor hereby irrevocably appoints (which appointment
is coupled with an interest) Secured Party, or its delegate, as the attorney-in-fact of Debtor
with the right (but not the duty) from time to time to create, prepare, complete, execute,
deliver, endorse or file, in the name and on behalf of Debtor, any and all instruments,
documents, financing statements, applications for insurance and other agreements and writings
required to be obtained, executed, delivered or endorsed by Debtor under this Section 3.
	 
	4.	 	Assignment of Insurance. Debtor hereby assigns to Secured Party, as additional security for
the payment of the Obligations, any and all moneys (including but not limited to proceeds of
insurance and refunds of unearned premiums) due or to become due under, and all other rights
of Debtor under or with respect to, any and all policies of insurance covering the Collateral,
and Debtor hereby directs the issuer of any such policy to pay any such moneys directly to
Secured Party. Both before and after the occurrence of an Event of default, Secured Party may
(but need not), in its own name or in Debtor’s name, execute and deliver proofs of claim,
receive all such moneys, endorse checks and other instruments representing payment of such
moneys, and adjust, litigate, compromise or release any claim against the issuer of any such
policy.
	 
	5.	 	Events of Default. Each of the following occurrences shall constitute an event of default
under this Agreement (herein called “Event of Default”): (i) Debtor shall fail to pay any or
all of the Obligations when due or (if payable on demand) on demand, or shall fail to observe
or perform any covenant or agreement herein binding on it; (ii) any representation or warranty
by Debtor set forth in the Agreement or made to Secured Party in any financial statements or
reports submitted to Secured Party by or on behalf of Debtor shall prove materially false or
misleading; (iii) a garnishment, summons or a writ of attachment shall be issued against or
served upon the Secured Party for the attachment of any property of Debtor or any indebtedness
owing to Debtor; (iv) Debtor or any guarantor of any Obligation shall (A) be or become
insolvent (however defined); or (B) voluntarily file, or have filed against it involuntarily,
a petition under the United States Bankruptcy Code; or (C) if a corporation, partnership, or
organization, be dissolved or liquidated or, if a partnership, suffer the death of a partner
or, if an individual, die; or (D) go out of business; (v) an event of default shall occur
under any indebtedness Debtor may now or hereafter owe to any affiliate of Secured Party; (vi)
if Debtor is a corporation, more than 50% of the shares of voting stock of Debtor shall become
owned by a shareholder or shareholders who were not owners of voting stock of Debtor on the
date of this Agreement or, if Debtor is a partnership, more than 50% of the partnership
interests in the Debtor shall become owned by a partner or partners who were not partners of
Debtor on the date of this Agreement; or (vii) Debtor shall consolidate with or merge into, or
sell all or substantially all of its assets to, any individual, corporation, or other entity.
	 
	6.	 	Remedies upon Event of Default. Upon the occurrence of an Event of Default under Section 5
and at any time thereafter, Secured Party may exercise any one or more of the following rights
and remedies: (i) declare all unmatured Obligations to be immediately due and payable, and the
same shall thereupon be immediately due and payable, without presentment or other notice or
demand; (ii) exercise and enforce any or all rights and remedies available upon default to a
secured party under the Uniform Commercial Code, including but not limited to the right to
take possession of any Collateral, proceeding without judicial process or by judicial process
(without a prior hearing or notice thereof, which Debtor hereby expressly waives), and the
right to sell, lease or otherwise dispose of any or all of the Collateral, and in connection
therewith, Secured Party may require Debtor to make the Collateral available to Secured Party
at a place to be designated by Secured Party which is reasonably convenient to both parties,
and if notice to Debtor of any intended disposition of Collateral or any other intended action
is required by law in a particular instance, such notice shall be deemed commercially
reasonable if given (in the manner specified in Section 7) at least 10 calendar days prior to
the date of intended disposition or other action; (iii) exercise or enforce any or all other
rights or remedies available to Secured Party by law or agreement against the Collateral,
against Debtor or against any other person or property. Upon the occurrence of the Event of
Default described in Section 5(iv)(B), all Obligations shall be immediately due and payable
without demand or notice thereof.
	 
	7.	 	Miscellaneous. This Agreement can be waived, modified, amended, terminated or discharged,
and the Security Interest can be released, only explicitly in a writing signed by Secured
Party. A waiver signed by Secured Party shall be effective only in the specific instance and
for the specific purpose given. Mere delay or failure to act shall not preclude the exercise
or enforcement of any of Secured Party’s rights or remedies. All rights and remedies of
Secured Party shall be cumulative and may be exercised singularly or concurrently, at Secured
Party’s option, and the exercise or enforcement of any one such right or remedy shall neither
be a condition to nor bar the exercise or enforcement of any other. All notices to be given
to Debtor shall be deemed sufficiently given if delivered or mailed by registered or certified
mail, postage prepaid, to Debtor at its address set forth above or at the most recent address
shown on Secured Party’s records. Secured Party’s duty of care with respect to Collateral in
its possession (as imposed by law) shall be deemed fulfilled if Secured Party exercises
reasonable care in physically safekeeping such Collateral or, in the case of Collateral in the
custody or possession of a bailee or other third person, exercises reasonable care in the
selection of the bailee or other third person, and Secured Party need not otherwise preserve,
protect, insure or care for any Collateral. Secured Party shall not be obligated to reserve
any rights Debtor may have against prior parties, to realize on the Collateral at all or in
any particular manner or order, or to apply any cash proceeds of Collateral in any particular
order of application. This Agreement shall be binding upon and inure to the benefit of Debtor
and Secured Party and their respective heirs, representatives, successors and assigns and
shall take effect when signed by Debtor and delivered to Secured Party, and Debtor waves
notice of Secured Party’s acceptance hereof. Secured Party may execute this Agreement if
appropriate for the purpose of filing, but the failure of Secured Party to execute this
Agreement shall not affect or impair the validity or effectiveness of this Agreement. A
carbon, photographic or other reproduction of this Agreement or of any financing statement
signed by the Debtor shall have the same force and effects as the original for all purposes of
a financing statement. Except to the extent otherwise required by law, this Agreement shall
be governed by the internal laws of the state of Minnesota. If any provision or application
of this Agreement is held unlawful or unenforceable in any respect, such illegality or
unenforceability shall not affect other provisions or applications which can be given effect,
and this Agreement shall be construed as if the unlawful or unenforceable provision or
application had never been contained herein or prescribed hereby. All representations and
warranties contained in this Agreement shall survive the execution, delivery and performance
of this Agreement and the creation and payment of the Obligations. If this Agreement is
signed by more than one person as Debtor, the term “Debtor” shall refer to each of them
separately and to both or all of them jointly; all such persons shall be bound both severally
and jointly with the other(s); and the Obligations shall include all debts, liabilities and
obligations owed to Secured Party by any Debtor solely or by both or several or all Debtors
jointly or jointly and severally, and all property described in Section 1 shall be included as
part of the Collateral, whether it is owned jointly by both or all Debtors or is owned in
whole or in part by one (or more) of them. There shall be (1) counterpart of this Agreement
and it will be marked “Original.” To the extent that this Agreement constitutes chattel paper
(as that term is defined by the Uniform Commercial Code), a security interest only may be
created in the Agreement marked “Original.” DEBTOR HEREBY WAIVES ANY RIGHT TO A JURY TRIAL
WITH RESPECT TO ANY MATTER UNDER OR IN CONNECTION WITH THE SECURITY AGREEMENT.

Ver. 1204

 

 

 

Schedule A

Contract Number 0127395-700 dated as of November 13, 2006

Debtor: StarTek USA, Inc.

Equipment Description: Office Furniture and IT equipment, together with all parts,
attachments and accessories, as more fully described below:

	 	 	 	 	 
	Asset	 	Asset Description	 	Cap. Date
	 
	 	 	 	 
	24753

	 	Cabling
	 	01/31/2006
	24797

	 	Timeclocks, ADI
	 	02/28/2006
	24798

	 	IEX Hardware
	 	02/28/2006
	24799

	 	IEX Software
	 	02/28/2006
	24800

	 	Speakerphone, Polycom
	 	03/21/2006
	24805

	 	Dell GX 520 desktops
	 	04/04/2006
	24807

	 	Aspect Ebusiness Architect
	 	01/31/2006
	24808

	 	Aspect Managers Admin
	 	01/31/2006
	24809

	 	Aspect Call Center User License
	 	01/31/2006
	24816

	 	Microsoft Licenses True-up-XP Desktops
	 	03/31/2006
	24817

	 	Microsoft Licenses True-up-Office Desktops
	 	03/31/2006
	24842

	 	Site Project Management Fees
	 	03/31/2006
	24843

	 	Security System-Wideband
	 	03/31/2006
	24844

	 	Shipping & Storage of PC’s
	 	03/31/2006
	24848

	 	TEAM LEADER VIEW
	 	01/31/2006
	24849

	 	SW LIC Contact Server system (new)
	 	01/31/2006
	24850

	 	ASPECT CALL CENTER HARDWARE
	 	01/31/2006
	24851

	 	Aspect Hands free telset
	 	01/31/2006
	24852

	 	Cabling
	 	01/31/2006
	24853

	 	Flair Cisco -3845 Voice bundle pvd m2-64
	 	01/31/2006
	24854

	 	Flair cisco -3845 power supply
	 	01/31/2006
	24855

	 	Flair Cisco one port t3/e3 network mod
	 	01/31/2006
	24856

	 	Flair 2 port rj 48 multiflex trunk
	 	01/31/2006
	24857

	 	Flair cisco smartnet 8x5xnbd 3845 voice
	 	01/31/2006
	24858

	 	Flair Cisco Catalyst 4500 Chassis (3-slot)
	 	01/31/2006
	24859

	 	Flair Cisco Catalyst 4500 1300W AC PWR
	 	01/31/2006
	24860

	 	Flair Cisco Cat 4507 Supervisor IV Cons
	 	01/31/2006
	24861

	 	Flair Cisco IOS Enhncd L3 c4500 SUP4/5 3DE
	 	01/31/2006
	24862

	 	Flair Cisco Catalyst 4500 Enhanced 48
	 	01/31/2006
	24863

	 	Flair Smartnet 8x5xnbc service for the
	 	01/31/2006
	24864

	 	Flair Catalyst 2950 48 port 10/100tx & 2 1
	 	01/31/2006
	24866

	 	Dell Marketing, L.P.1850 PowerEdge servers
	 	01/31/2006
	24867

	 	Dell Marketing, L.P. 2850 PowerEdge
	 	01/31/2006
	24868

	 	Dell Marketing, L.P. Projectors for training
	 	01/31/2006
	24869

	 	Dell Marketing, L.P. Dell Rack
	 	01/31/2006
	24870

	 	Dell Marketing, L.P. dell KVM
	 	01/31/2006
	24871

	 	Dell Marketing, L.P. 1850 PowerEdge
	 	01/31/2006

Initials: /s/ SDB

 

 

 

	 	 	 	 	 
	Asset	 	Asset Description	 	Cap. Date
	 
	 	 	 	 
	24872

	 	ASAP Software APC power strips
	 	01/31/2006
	24873

	 	ASAP Software HP LJ 2420dn printer
	 	01/31/2006
	24874

	 	ASAP Software APC UPS Backup units
	 	01/31/2006
	24875

	 	Dell Marketing, L.P. OptiPlex GX520 Small For
	 	01/31/2006
	24876

	 	ASAP Software IBM T43P laptop w/ accesories
	 	01/31/2006
	24877

	 	ASAP Software IBM T43 laptops w/ accesories
	 	01/31/2006
	24878

	 	Tri Fusion 6969-Consol/ship for Dell 17” @ 35
	 	01/31/2006
	24879

	 	Tri Fusion 6969-consol/ship for Dell GX520 SF
	 	01/31/2006
	24880

	 	Dell Marketing, L.P. Networker NDMP client co
	 	01/31/2006
	24881

	 	Dell Marketing, L.P. EMC S W install & implem
	 	01/31/2006
	24882

	 	Adi 2101690 600 MS-SQL
	 	01/31/2006
	24883

	 	Adi 2101690 2000-PROX ETHERNET TERMINAL
	 	01/31/2006
	24884

	 	Aspect Uniphi con User License
	 	01/31/2006
	24885

	 	Aspect PTO Ibm Webshere License
	 	01/31/2006
	24886

	 	Aspect Mission Critical License
	 	01/31/2006
	24887

	 	Dominion Power Set up
	 	01/31/2006
	24888

	 	Schlueter Electric Kohler Generator Auto Trnf
	 	01/31/2006
	24889

	 	Coleman Adams
	 	01/31/2006
	24890

	 	Interior Architects Inc.
	 	01/31/2006
	24893

	 	Wideband Security System
	 	01/31/2006
	24894

	 	Rocky Mountain Desk Corp-cubicals
	 	01/31/2006
	24895

	 	Rocky Mountain Desk Corp-ergo Dauphin Olive C
	 	01/31/2006
	24896

	 	Rocky Mountain Desk Corp Huddle rm Dauphin Se
	 	01/31/2006
	24897

	 	Rocky Mountain Desk Corp Private Office desk
	 	01/31/2006
	24898

	 	Rocky Mountain Desk Corp Armless Trn Rm Chair
	 	01/31/2006
	24899

	 	Rocky Mountain Desk Corp Breakroom Chair poly
	 	01/31/2006
	24900

	 	Rocky Mountain Desk Corp Dauphin Stools Break
	 	01/31/2006
	24901

	 	Rocky Mountain Desk Corp Office Guest Chairs
	 	01/31/2006
	24902

	 	Rocky Mountain Desk Corp Soft care Privacy Rm
	 	01/31/2006
	24903

	 	Rocky Mountain Desk Corp Reception Desk
	 	01/31/2006
	24905

	 	Rocky Mountain Desk Corp Table trn/conf/break
	 	01/31/2006

 

 

 

	 	 	 	 	 
	Asset	 	Asset Description	 	Cap. Date
	24906

	 	Rocky Mountain Desk Corp Design
	 	01/31/2006
	24907

	 	Rocky Mountain Desk Corp Pro mgmt
	 	01/31/2006
	24908

	 	Rocky Mountain Desk Corp-Office furniture
	 	01/31/2006
	24909

	 	Rocky Mountain Desk Corp Reception Table
	 	01/31/2006
	24910

	 	Rocky Mountain Desk Corp Steel Shelving Train
	 	01/31/2006
	24911

	 	Rocky Mountain Desk Corp Egan trn/conf/lrp Bo
	 	01/31/2006
	24912

	 	Rocky Mountain Desk Corp Marker board/track c
	 	01/31/2006
	24913

	 	Rocky Mountain Desk Corp Mobile Lecterns
	 	01/31/2006
	24914

	 	ShoreGroup PG/meadia routing-dual 3.4 ghz
	 	01/31/2006
	24915

	 	ShoreGroup Licences for ICM -INSTALL
	 	01/31/2006
	24916

	 	Aspect PTO Ibm Webshere License
	 	01/31/2006
	24917

	 	Aspect ACD Hardware install
	 	01/31/2006

 

Initials: /s/ SDB

 

	 	 	 	 	 
	Asset	 	Asset Description	 	Cap. Date
	 
	 	 	 	 
	24922

	 	Verinet invoice 3474 PO 16600 SW
	 	04/30/2006
	24923

	 	Verinet invoice 3474 PO 16600
	 	04/30/2006
	24924

	 	Verinet Ultra platform serverw/o application serve
	 	04/30/2006
	24925

	 	Cmmunitech 200 binaural Head sets
	 	04/30/2006
	25050

	 	Signage for Petersburg
	 	04/30/2006
	25098

	 	Door, material & labor for CCD office door
	 	06/02/2006
	25119

	 	Projectors, Dell 1200MP
	 	05/23/2006
	25165

	 	Addon DTMF Receiver Card
	 	07/06/2006
	25173

	 	Audible alarms
	 	07/07/2006
	25174

	 	Security camera
	 	07/07/2006

Equipment located at: 3333 S. Crater Rd. Ste 5A, Pinehill Plaza Petersburg, VA 23805

	 	 	 
	Dated:

	 	November 13, 2006
	Debtor:

	 	StarTek USA, Inc.

By: /s/ Steve Butler

Title: CEO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]