Document:

Amendment No. 2 to Receivables Purchase

  
 Exhibit 10.4 
  
 AMENDMENT NO. 2 TO 
 RECEIVABLES PURCHASE AGREEMENT 
  
 AMENDMENT NO. 2 TO RECEIVABLES PURCHASE AGREEMENT, dated October 31, 2002 (this “Amendment”), is entered into by and among IMCO FUNDING
CORPORATION, a Delaware corporation, as the seller (the “Seller”), IMCO RECYCLING INC., a Delaware corporation (“IMCO”), as initial servicer (in such capacity, together with its successors and permitted assigns in such
capacity, the “Servicer”), MARKET STREET FUNDING CORPORATION, a Delaware corporation (together with its successors and permitted assigns, the “Issuer”), and PNC BANK, NATIONAL ASSOCIATION, a national banking
association (“PNC”), as administrator (in such capacity, together with its successors and assigns in such capacity, the “Administrator”). 
  
 RECITALS: 
  
 WHEREAS, the Parties hereto are parties to that certain
Receivables Purchase Agreement dated as of November 2, 2000 (as may be further amend, supplemented, from time to time, the “Agreement”); 
  
 WHEREAS, the parties hereto desire to amend the Agreement as hereinafter set forth. 
  
 NOW THEREFORE, for
good and valuable consideration, the receipt and sufficiencyof which are hereby acknowledged, the parties agree as follows: 
  
 1.  Defined Terms. Capitalized terms used but not defined herein have the meaning set forth in the Agreement. 
  
 2.  Amendments. 
  
 (a)  The definition of “Purchase Limit” set forth in Exhibit I to the Agreement is hereby amended by deleting the amount “100,000,000” and substituting the amount “75,000,000” therefor.

  
 (b)  The definition of “Related Security” set forth in Exhibit I to the 

 
 Agreement is hereby amended and restated in its entirety as follows: 
  
 “Related Security” means, with respect to any Receivable: 
  
 (a)  all of the Seller’s and the respective Originator’s interest in any goods (including returned goods) the sale of which gives rise to the
Receivables, and documentation of title evidencing the shipment or storage of any goods(including returned goods) the sale of which gives rise to such Receivable, 
  
 (b)  all instruments and chattel paper that may evidence such Receivable, 
  
 (c)  all other security interests or liens and property subject thereto from time to time purporting to secure payment of such Receivable, whether 

 pursuant to the Contract related to such Receivable or otherwise, together with all UCC financing statements or similar
filings relating thereto, 
  
 (d)  all of the Seller’s and the respective Originator’s rights,
interests and claims under the Contracts and all guaranties, indemnities, insurance and other agreements (including the related Contract) or arrangements of whatever character from time to time supporting or securing payment of such Receivable or
otherwise relating to such Receivable, whether pursuant to the Contract related to such Receivable or otherwise, and 
  
 (e)  all lockboxes, Lockbox Accounts and all deposits therein, to the extent related to such Receivables. 
  
 (c)  Schedule II to the Agreement is hereby replaced in its entirety with the Schedule II hereto. 
  
 3.    Effect of Amendment.    All provisions of the Agreement, as expressly amended and modified by this Ame ndment, shall remain in full force and
effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to this Agreement shall be deemed to be references to this Agreement as amended hereby. 
  
 4.    Counterparts.    This Amendment may be executed in any number of counterparts and by
different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument. 
  

5.    Governing Law.    This Amendment shall be governed by, and construed in accordance with, the internal laws of the
State of New York. 
  
 6.    Section Headings.    The various headings
of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof. 
  
 [Signature Pages To Follow] 

  
 IN WITNESS WHEREOF, the parties have executed this Amendment on the date first written above.

  
 
	 IMCO FUNDING CORPORATION, as the Seller
 
	 
	 By:
 

 	 	  
 

	 Name:
 	 	 James B. Walburg
 
	 Title:
 	 	 President
 
	 Address:
 	 	 5215 North O’Connor Blvd.
 
	  	 	 Suite 1500
 
	  	 	 Irving, Texas 75039
 
	 Attention:
 	 	 Jeffrey S. Mecom
 
	 Telephone:
 	 	 (972) 401-7200
 
	 Facsimile:
 	 	 (972) 401-7342
 

 
  
 
	 IMCO RECYCLING INC., as the Servicer
 
	 
	 By:
 	 	  
 

	 Name:
 	 	 James B. Walburg
 
	 Title:
 	 	 Senior Vice President
 
	 Address:
 	 	 5215 North O’Connor Blvd.
 
	  	 	 Suite 1500
 
	  	 	 Irving, Texas 75039
 
	 Attention:
 	 	 Jeffrey S. Mecom
 
	 Telephone:
 	 	 (972) 401-7200
 
	 Facsimile:
 	 	 (972) 401-7342
 

 

 
 S-2 

  
 
	 MARKET STREET FUNDING CORPORATION, as the Issuer
 
	 
	 By:
 	 	  
 

	 Name:
 	 	  
 

	 Title:
 	 	  
 

	 
	 Address:
 	 	 c/o AMACAR Group, LLC
 
	 6525 Morrison Boulevard
 
	 Suite 318
 
	 Charlotte, North Carolina 28211
 
	 Attention:
 	 	 Douglas K. Johnson
 
	 Telephone:
 	 	 (704) 365-0569
 
	 Facsimile:
 	 	 (704) 365-1362
 
	 
	 With a copy to:
 

 
  
  
 
	 PNC Bank, National Association
 
	 Address:
 	 	 One PNC Plaza
 
	 249 Fifth Avenue
 
	 Pittsburgh, PA 15222-2707
 
	 Attention:
 	 	 John Smathers
 
	 Telephone:
 	 	 (412) 762-6440
 
	 Facsimile:
 	 	 (412) 762-9184
 

 

 
 S-3 

  
 
	 PNC BANK, NATIONAL ASSOCIATION, as
                 Administrator
 
	 
	 By:
 	 	  
 

	 Name:
 	 	  
 

	 Title:
 	 	  
 

	 
	 Address: 
 	 	 One PNC Plaza
 
	 249 Fifth Avenue
 
	 Pittsburgh, PA 15222-2707
 
	 Attention:
 	 	 John Smathers
 
	 Telephone:
 	 	 (412) 762-6440
 
	 Facsimile:
 	 	 (412) 762-9184
 

 

 
 5 

  
 Schedule II 
  
 LOCK-BOX BANKS AND LOCK-BOX ACCOUNTS 
  
 JPMorgan
Chase Bank 
 P.O. Lockbox #910078 
 Account 08500216028 

 
 IMCO Funding Corporation 
 JPMorgan Chase Bank

 Account 088-06212328 
 US Zinc CorporationTERM PROMISSORY NOTE

   
 Exhibit 10.1
 TERM PROMISSORY NOTE

	$190,000	 	July 10, 2002

 
          FOR VALUE RECEIVED, the
undersigned, MediaBin, Inc., a Georgia corporation (the “Borrower”), promises to pay to Venturos AS, a Norwegian corporation (the “Lender”), at P.O. Box 113, 4551 Farsund, Norway (or at such other place as the Lender may
designate in writing to the Borrower), in lawful money of the United States of America, the principal sum of one hundred ninety thousand dollars ($190,000), plus interest as hereinafter provided.
          The Borrower promises to pay interest on the unpaid principal amount outstanding hereunder (the “Loan”), at a simple interest rate per annum equal to the Prime
Rate Basis. “Prime Rate Basis” shall mean, on any day, a simple interest rate per annum equal to the Prime Rate (as defined herein) plus 100 basis points (1.0%). “Prime Rate” shall mean, on any day, the rate of interest published
as the “Prime Rate” as of the last business day of the full calendar month preceding such day by Bank of America, N.A. (Charlotte, North Carolina), or any successor institution. The Prime Rate in effect as of the close of business of each
day shall be the applicable Prime Rate for the day and each succeeding non-business day in determining the applicable Prime Rate Basis. Interest shall be calculated on the basis of a 360-day year for the actual number of days elapsed. 
          Interest under this Note shall be due and payable quarterly in arrears on the last day of each calendar quarter, commencing September 30, 2002, and continuing to be due on
the last day of each calendar quarter thereafter until this Note is paid in full. Interest shall also be due and payable when this Note shall become due (whether at maturity, by reason of acceleration or otherwise). After default, interest shall
also be due and payable upon demand from time to time by the Lender as provided below.
          The indebtedness evidenced by this Note shall be due and payable on
January 1, 2003, plus all accrued and unpaid interest as hereinabove provided
          Overdue principal shall bear interest for each day from the date it became so
due until paid in full, payable on demand, at a rate per annum (computed on the basis of a 360-day year for the actual number of days elapsed) equal to two percent (2%) per annum in excess of the interest rate otherwise payable hereunder.

          In no event shall the amount of interest due or payable hereunder exceed the maximum rate of interest allowed by applicable law, and in the event any such
payment is inadvertently paid by the Borrower or inadvertently received by the Lender, then such excess sum shall be credited as a payment of principal, unless the Borrower shall notify the Lender, in writing, that the Borrower elects to have such
excess sum returned to it forthwith. It is the express intent hereof that the Borrower not pay and the Lender not receive, directly or indirectly, in any manner whatsoever, interest in excess of that which may be lawfully paid by the Borrower under
applicable law.
          The Borrower hereby waives presentment for payment, demand, notice of non-payment or dishonor, protest and notice of protest, or any other
notice of any kind with respect thereto.
          Time is of the essence of this Note.
          This Note shall be deemed to be made pursuant to the laws of the State of Georgia.

           IN WITNESS WHEREOF, the duly authorized officers of the Borrower have executed, sealed, and delivered this
Note, as of the day and year first above written.

		 	MEDIABIN, INC.
	
	 	By: 	
/s/ DAVID MORAN
				

	 	 	 	David P. Moran 
President and Chief Executive Officer

		 	 
	
	 	Attest:	
/s/ HAINES HARGRETT
				

	 	 	 	Haines H. Hargrett 
Secretary

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