Document:

Second Amended and Restated Continuing and Unconditional Guaranty

 Exhibit 10.3 
  
 Date: April 1, 2005 
  
 Second Amended and Restated Continuing and Unconditional Guaranty 
  

			
	 Lender:
  
 Bank of America, N.A.
  
 8300 Greensboro Drive
 Mezzanine
 McLean, Virginia 22102
 Attn: Commercial Banking
	 	 Subsidiary Guarantors:
  
 SYCOM SERVICES, INC.
 BETA
ANALYTICS, INCORPORATED
  
 5904
Richmond Highway
 Suite 300
 Alexandria, Virginia 22303

  
 THIS SECOND AMENDED
AND RESTATED CONTINUING AND UNCONDITIONAL GUARANTY (this “Agreement”) is made as of the 1st day of April, 2005, by undersigned “Guarantor”, jointly and severally, for the benefit of BANK OF AMERICA, N.A., a national banking
association (“Lender”). 
  
 RECITALS 

 
 A. Analex Corporation (“Borrower”), a corporation organized
under the laws of the State of Delaware, formerly known as Hadron, Inc., obtained from Lender a Revolving Credit Facility in the original maximum principal sum of $4,000,000 and a term loan in the original principal sum of $3,500,000 (the
“Original Credit Facility”). Advances and readvances under the Original Credit Facility were at one time governed by the terms and conditions of that certain Credit Agreement by and among Borrower, certain subsidiaries of Borrower named
therein, and Lender dated November 2, 2001 (the same, as amended, modified, substituted, extended, and renewed from time to time, the “Original Credit Agreement”). 
  
 B. Borrower and Lender entered into that certain Amended and Restated Credit Agreement dated as of May 28, 2004 which is
being modified pursuant to that certain First Amendment to Amended and Restated Credit Agreement (the “First Amendment”) dated of even date herewith (the same, collectively, as amended, modified, substituted, extended, and renewed from
time to time, the “Credit Agreement”) The Credit Agreement provides for some of the agreements between Borrower and Lender with respect to the “Loan” (as defined in the Credit Agreement), including Revolving Credit Facility Loans
in an aggregate amount not to exceed Twenty Million Dollars ($20,000,000) (the “Revolving Credit Facility Committed Amount”). 
  
 C. The Loan is evidenced by that certain Amended and Restated Revolving Credit Facility Note dated May 28, 2004 by Borrower for the benefit of Lender in
the original maximum principal amount of Twenty Million Dollars ($20,000,000) which is being amended pursuant to that certain First Amendment to Amended and Restated Revolving Credit Facility 

  

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Note dated of even date herewith (the same, collectively, as amended, modified, substituted, extended, and renewed from time to time, the “Note”).

  
 D. Borrower has requested and Lender has agreed to increase
the Revolving Credit Facility Committed Amount from Twenty Million Dollars ($20,000,000) to Forty Million Dollars ($40,000,000) at any time outstanding, and to extend the Revolving Credit Facility Maturity Date. 
  
 E. Borrower’s obligations under the Original Credit Facility were
guaranteed by the Guarantors, as defined therein, pursuant to the terms of the Continuing and Unconditional Guaranty dated November 2, 2001, as amended and restated by that certain Amended and Restated Continuing and Unconditional Guaranty dated May
28, 2004 (as amended, modified, restated, substituted, extended as renewed at any time and from time to time, the “Original Guaranty”). 
  
 F. Advanced Biosystems, Inc. (“ABI”), a Delaware corporation and one of the Guarantors pursuant to the Original Guaranty, has been sold by
Borrower with the consent of Lender and has been released by Lender from all obligations it may have under the Loan Documents, including the Original Guaranty. 
  

G. It is a condition precedent, among others, to Lender’s agreement to enter into the First Amendment and to amend the loan and other financial
accommodations under the Credit Agreement, that Guarantor enter into this Agreement to amend and restate in its entirety the Original Guaranty in order to secure the full and prompt performance of Borrower of all the Obligations under all of the
Loan Documents. All capitalized terms used herein and not otherwise defined shall have the meaning given to such terms in the Credit Agreement. 
  
 NOW, THEREFORE, in order to induce Lender to increase the credit facilities to the Borrower, each Guarantor hereby amends and restates the Original
Guaranty and reconfirms its guaranty as follows: 
  
 1.
Guaranty. FOR VALUE RECEIVED, and to induce Lender to make loans or advances or to extend credit or other financial accommodations or benefits, with or without security, to or for the account of Borrower, the undersigned
“Guarantor”, if more than one, then each of them jointly and severally, hereby irrevocably and unconditionally guarantees to Lender the full and prompt payment when due, whether by acceleration or otherwise, of any and all Liabilities (as
hereinafter defined) of Borrower to Lender. 
  
 The undertakings
of Guarantor hereunder are independent of the Liabilities and Obligations of Borrower and a separate action or actions for payment, damages or performance may be brought or prosecuted against Guarantor, whether or not an action is brought against
Borrower or to realize upon the security for the Liabilities and/or Obligations, whether or not Borrower is joined in any such action or actions, and whether or not notice is given or demand is made upon Borrower. 
  

 2 

 Lender shall not be required to proceed against Borrower, or any other person, or entity, whether
primarily or secondarily liable, or against any collateral held by it, before resorting to Guarantor for payment. 
  
 This Guaranty is continuing and unlimited as to amount, and is cumulative to and does not supersede any other guaranties. This is the Guaranty described
in the Credit Agreement. 
  
 2. Paragraph Headings, Governing
Law and Binding Effect. Guarantor agrees that paragraph headings in this Guaranty are for convenience only and that they will not limit any of the provisions of this Guaranty. Guarantor further agrees that this Guaranty shall be governed by and
construed in accordance with the laws of the Commonwealth of Virginia and applicable United States federal law. Guarantor further agrees that this Guaranty shall be deemed to have been made in the Commonwealth of Virginia at Lender’s address
indicated above, and shall be governed by, and construed in accordance with, the laws of the Commonwealth of Virginia, or the United States courts located within the Commonwealth of Virginia, and is performable in the Commonwealth of Virginia. This
Guaranty is binding upon Guarantor, his, their or its executors, administrators, successors or assigns, and shall inure to the benefit of Lender, its successors, endorsees or assigns. Anyone executing this Guaranty shall be bound by the terms hereof
without regard to execution by anyone else. 
  
 3.
Definitions. 
  
 A. “Credit
Agreement” shall mean that certain Amended and Restated Credit Agreement dated as of May 28, 2004, as amended by that certain First Amendment to Amended and Restated Credit Agreement dated of even date herewith, by and among Borrower, the
Subsidiary Guarantors from time to time party thereto and Lender, and all other agreements and instruments extending, renewing, refinancing or refunding any indebtedness, obligation or liability arising under the same, as the same may be amended,
modified or supplemented from time to time hereafter. 
  
 B. “Guarantor” shall mean Guarantor or any one or more of them. 
  
 C. “Liability” or “Liabilities” shall mean without limitation, all liabilities, overdrafts, indebtedness, and
obligations of Borrower and/or Guarantor to Lender under the Credit Agreement and the other Loan Documents, and all sums payable under or by virtue thereof, including without limitation, all amounts of principal and interest, all expenses (including
reasonable attorney’s fees and cost of collection) incurred in the collection thereof or the enforcement of rights thereunder (including, without limitation, any liability arising from failure to comply with state or federal laws, rules and
regulations concerning the control of hazardous waste or substances at or with respect to any real estate securing any loan guaranteed hereby), whether arising in the ordinary course of business or otherwise. The term “Liability” or
“Liabilities” shall include all Obligations (as that term is defined in the Credit Agreement). If Borrower is a partnership, corporation or other entity the term “Liability” or “Liabilities” as used herein shall include
all Liabilities to Lender of any successor entity or entities. 
  
 D. “Loan Documents” shall have the meaning ascribed to such term in the Credit Agreement. 
  

 3 

 E. “Obligation” or “Obligations” shall mean all terms, conditions,
covenants, agreements and undertakings of Borrower and/or Guarantor under the Credit Agreement and the other Loan Documents. 
  
 4. Waivers by Guarantor. Guarantor waives notice of acceptance of this Guaranty, notice of any Liabilities or Obligations to which it may apply,
presentment, demand for payment, protest, notice of dishonor or nonpayment of any Liabilities, notice of intent to accelerate, notice of acceleration, and notice of any suit or the taking of other action by Lender against Borrower, Guarantor or any
other person, any applicable statute of limitations and any other notice to any party liable on any Loan Document (including Guarantor). 
  
 Until such time as the Liabilities have been paid in full, all Commitments under the Credit Agreement have been terminated and no Person or Governmental
Authority shall have any right to request any return or reimbursement of funds from the Lender in connection with monies received under the Loan Documents, each Guarantor also hereby waives any claim, right or remedy which such Guarantor may now
have or hereafter acquire against Borrower that arises hereunder and/or from the performance by any other Guarantor hereunder including, without limitation, any claim, remedy or right of subrogation, reimbursement, exoneration, contribution,
indemnification, or participation in any claim, right or remedy of Lender against Borrower or against any security which Lender now has or hereafter acquires, whether or not such claim, right or remedy arises in equity, under contract, by statute,
under common law or otherwise. 
  
 Guarantor also waives the
benefits of any provision of law requiring that Lender exhaust any right or remedy, or take any action, against Borrower, any Guarantor, any other person and/or property, including but not limited to the provisions of Sections 49-25 and 49-26 of the
Code of Virginia (1950), as amended, or otherwise. 
  
 Lender may
at any time and from time to time (whether before or after revocation or termination of this Guaranty) without notice to Guarantor (except as required by law), without incurring responsibility to Guarantor, without impairing, releasing or otherwise
affecting the obligations of Guarantor hereunder, in whole or in part, and without the endorsement or execution by Guarantor of any additional consent, waiver or guaranty: (a) change the manner, place or terms of payment, or change or extend the
time of or renew, or change any interest rate or alter any Liability or Obligation or installment thereof, or any security therefor; (b) loan additional monies or extend additional credit to Borrower, with or without security, thereby creating new
Liabilities or Obligations the payment or performance of which shall be guaranteed hereunder, and the Guaranty herein made shall apply to the Liabilities and Obligations as so changed, extended, surrendered, realized upon or otherwise altered; (c)
sell, exchange, release, surrender, realize upon or otherwise deal with in any manner and in any order any property at any time pledged or mortgaged to secure the Liabilities or Obligations and any offset thereagainst; (d) exercise or refrain from
exercising any rights against Borrower or others (including Guarantor) or act or refrain from acting in any other manner; (e) settle or compromise any Liability or Obligation or any security therefor and subordinate the payment of all or any part
thereof to the payment of any Liability or Obligation of any other parties primarily or secondarily liable on any of the Liabilities or Obligations; (f) release or compromise any Liability of Guarantor hereunder or any Liability or Obligation of any
other parties primarily or 

  

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secondarily liable on any of the Liabilities or Obligations; or (g) apply any sums from any sources to any Liability without regard to any Liabilities
remaining unpaid. 
  
 5. Waivers by Lender. No delay on the
part of Lender in exercising any of its options, powers or rights, and no partial or single exercise thereof, shall constitute a waiver thereof. No waiver of any of its rights hereunder, and no modification or amendment of this Guaranty, shall be
deemed to be made by Lender unless the same shall be in writing, duly signed on behalf of Lender; and each such waiver, if any, shall apply only with respect to the specific instance involved, and shall in no way impair the rights of Lender or the
obligations of Guarantor to Lender in any other respect at any other time. 
  
 6. Termination. This Guaranty shall be binding on each Guarantor until written notice of revocation signed by such Guarantor shall have been received by Lender, notwithstanding change in name, location,
composition or structure of, or the dissolution, termination or increase, decrease or change in personnel, owners or partners of Borrower, or any one or more of Guarantors. No notice of revocation or termination hereof shall affect in any manner
rights arising under this Guaranty with respect to Liabilities or Obligations that shall have been committed, created, contracted, assumed or incurred prior to receipt of such written notice pursuant to any agreement entered into by Lender prior to
receipt of such notice. The sole effect of such notice of revocation or termination hereof shall be to exclude from this Guaranty, Liabilities or Obligations thereafter arising that are unconnected with Liabilities or Obligations theretofore arising
or transactions entered into theretofore. 
  
 7. Partial
Invalidity and/or Enforceability of Guaranty. The unenforceability or invalidity of any provision of this Guaranty shall not affect the enforceability or validity of any other provision herein and the invalidity or unenforceability of any
provision of any Loan Document as it may apply to any person or circumstance shall not affect the enforceability or validity of such provision as it may apply to other persons or circumstances. 
  
 In the event Lender is required to relinquish or return the payments, the
collateral or the proceeds thereof, in whole or in part, which had been previously applied to or retained for application against any Liability, by reason of a proceeding arising under the Bankruptcy Code, or for any other reason, this Guaranty
shall automatically continue to be effective notwithstanding any previous cancellation or release effected by Lender. 
  
 8. Financial and Other Information. Guarantor agrees to furnish to Lender any and all financial information and any other information regarding
Guarantor and/or collateral requested in writing by Lender within ten (10) days of the date of the request. Guarantor has made an independent investigation of the financial condition and affairs of Borrower prior to entering into this Guaranty, and
Guarantor will continue to make such investigation; and in entering into this Guaranty Guarantor has not relied upon any representation of Lender as to the financial condition, operation or creditworthiness of Borrower. Guarantor further agrees that
Lender shall have no duty or responsibility now or hereafter to make any investigation or appraisal of Borrower on behalf of Guarantor or to provide Guarantor with any credit or other information which may come to its attention now or hereafter.

  

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 9. Notices. Notices under this Guaranty shall be given and deemed effective in accordance with the
provisions of Section 8.5 of the Credit Agreement. 
  
 10.
Guarantor Duties. Guarantor shall upon notice or demand by Lender promptly and with due diligence pay all Liabilities and perform and satisfy all Obligations for the benefit of Lender in the event of the failure of Borrower or any guarantor
to perform any obligation or pay any liability or indebtedness of Borrower or any guarantor to Lender, or to any affiliate of Lender, whether under any note, guaranty or any other agreement, now or hereafter existing, as and when due (whether upon
demand, at maturity or by acceleration). 
  
 11. Remedies.
Upon the failure of Guarantor to fulfill its duty to pay all Liabilities and perform and satisfy all Obligations as required hereunder, Lender shall have all of the remedies of a creditor and, to the extent applicable, of a secured party, under all
applicable law, and without limiting the generality of the foregoing, Lender may, at its option and without notice or demand: (a) declare any Liability due and payable at once; (b) take possession of any collateral pledged by Borrower or Guarantor
wherever located, and sell, resell, assign, transfer and deliver all or any part of said collateral of Borrower or Guarantor at any public or private sale or otherwise dispose of any or all of the collateral in its then condition, for cash or on
credit or for future delivery, and in connection therewith Lender may impose reasonable conditions upon any such sale, and Lender, unless prohibited by law the provisions of which cannot be waived, may purchase all or any part of said collateral to
be sold, free from and discharged of all trusts, claims, rights or redemption and equities of Borrower or Guarantor whatsoever; Guarantor acknowledges and agrees that the sale of any collateral through any nationally recognized broker-dealer,
investment banker or any other method common in the securities industry shall be deemed a commercially reasonable sale under the Uniform Commercial Code or any other equivalent statute or federal law, and expressly waives notice thereof except as
provided herein; and (c) set-off against any or all liabilities of Guarantor all money owed by Lender or any of its agents or affiliates in any capacity to Guarantor whether or not due, and also set-off against all other Liabilities of Guarantor to
Lender all money owed by Lender in any capacity to Guarantor, and if exercised by Lender, Lender shall be deemed to have exercised such right of set-off and to have made a charge against any such money immediately upon the occurrence of such default
although made or entered on the books subsequent thereto. 
  
 Lender shall have a properly perfected security interest in all of Guarantor’s funds on deposit with Lender to secure the balance of any Liabilities and/or Obligations that Guarantor may now or in the future owe Lender. Lender is
granted a contractual right of set-off and will not be liable for dishonoring checks or withdrawals where the exercise of Lender’s contractual right of set-off or security interest results in insufficient funds in Guarantor’s account. As
authorized by law, Guarantor grants to Lender this contractual right of set-off and security interest in all property of Guarantor now or at anytime hereafter in the possession of Lender, including but not limited to any joint account, special
account, account by the entireties, tenancy in common, and all dividends and distributions now or hereafter in the possession or control of Lender. 
  
 12. Attorney Fees, Cost and Expenses. Guarantor shall pay all costs of collection and reasonable attorney’s fees, including reasonable
attorney’s fees in connection with any suit, mediation or arbitration proceeding, out of court payment agreement, trial, appeal, bankruptcy 

  

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proceedings or otherwise, incurred or paid by Lender in enforcing the payment of any Liability or defending this agreement. 
  
 13. Rights of Contribution. The Guarantors hereby agree, as among
themselves, that if any Guarantor shall become an Excess Funding Guarantor (as defined below), each other Guarantor shall, on demand of such Excess Funding Guarantor (but subject to the succeeding provisions of this Section 13), pay to such Excess
Funding Guarantor an amount equal to such Guarantor’s Pro Rata Share (as defined below and determined, for this purpose, without reference to the properties, assets, liabilities and debts of such Excess Funding Guarantor) of such Excess Payment
(as defined below). The payment obligation of any Guarantor to any Excess Funding Guarantor under this Section 13 shall be subordinate and subject in right of payment to the prior payment in full of the obligations of such Guarantor under the other
provisions of this Guaranty, and such Excess Funding Guarantor shall not exercise any right or remedy with respect to such excess until payment and satisfaction in full of all of such obligations. For purposes hereof, (i) “Excess Funding
Guarantor” shall mean, in respect of any obligations arising under the other provisions of this Guaranty (hereafter, the “Guaranteed Obligations”), a Guarantor that has paid an amount in excess of its Pro Rata Share of the Guaranteed
Obligations; (ii) “Excess Payment” shall mean, in respect of any Guaranteed Obligations, the amount paid by an Excess Funding Guarantor in excess of its Pro Rata Share of such Guaranteed Obligations; and (iii) “Pro Rata Share”,
for the purposes of this Section 13, shall mean, for any Guarantor, the ratio (expressed as a percentage) of (a) the amount by which the aggregate present fair saleable value of all of its assets and properties exceeds the amount of all debts and
liabilities of such Guarantor (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of such Guarantor hereunder) to (b) the amount by which the aggregate present fair saleable value of all assets
and other properties of the Borrower and all of the Guarantors exceeds the amount of all of the debts and liabilities (including contingent, subordinated, unmatured, and unliquidated liabilities, but excluding the obligations of the Borrower and the
Guarantors hereunder) of the Borrower and all of the Guarantors, all as of the Closing Date (if any Guarantor becomes a party hereto subsequent to the Closing Date, then for the purposes of this Section 13 such subsequent Guarantor shall be deemed
to have been a Guarantor as of the Closing Date and the information pertaining to, and only pertaining to, such Guarantor as of the date such Guarantor became a Guarantor shall be deemed true as of the Closing Date). 
  
 14. Preservation of Property. Lender shall not be bound to take any
steps necessary to preserve any rights in any property pledged as collateral to Lender to secure Borrower’s obligations and/or Guarantor’s obligations hereunder as against prior parties who may be liable in connection therewith, and
Borrower and Guarantor hereby agree to take any such steps. Lender, nevertheless, at any time, may (a) take any action it deems appropriate for the care or preservation of such property or of any rights of Borrower and/or Guarantor or Lender
therein; (b) demand, sue for, collect or receive any money or property at any time due, payable or receivable on account of or in exchange for any property pledged as collateral, to Lender to secure Borrower’s obligations and/or
Guarantor’s obligations hereunder to Lender; (c) compromise and settle with any person liable able on such property; or (d) extend the time of payment or otherwise change the terms of the Loan Documents as to any party liable on the Loan
Documents, all without notice to, without incurring responsibility to, and without affecting any of the obligations of Guarantor hereunder. 
  

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 15. ARBITRATION.  
  
 A. This paragraph concerns the resolution of any controversies or claims between the parties, whether
arising in contract, tort or by statute, including but not limited to controversies or claims that arise out of or relate to: (A) this agreement (including any renewals, extensions or modifications); or (B) any document related to this agreement
(collectively a “Claim”). For the purposes of this arbitration provision only, the term “parties” shall include any parent corporation, subsidiary or affiliate of the Bank involved in the servicing, management or administration
of any obligation described or evidenced by this agreement. 
  
 B. At the request of any party to this agreement, any Claim shall be resolved by binding arbitration in accordance with the Federal Arbitration Act (Title 9, U.S. Code) (the “Act”). The Act will apply even
though this agreement provides that it is governed by the law of a specified state. The arbitration will take place on an individual basis without resort to any form of class action. 
  
 C. Arbitration proceedings will be determined in accordance with the Act, the then-current rules and
procedures for the arbitration of financial services disputes of the American Arbitration Association or any successor thereof (“AAA”), and the terms of this paragraph. In the event of any inconsistency, the terms of this paragraph shall
control. If AAA is unwilling or unable to (A) serve as the provider of arbitration or (B) enforce any provision of this arbitration clause, any party to this agreement may substitute another arbitration organization with similar procedures to serve
as the provider of arbitration. 
  
 D. The
arbitration shall be administered by AAA and conducted, unless otherwise required by law, in any U.S. state where real or tangible personal property collateral for this credit is located or if there is no such collateral, in the Commonwealth of
Virginia. All Claims shall be determined by one arbitrator; however, if Claims exceed Five Million Dollars ($5,000,000), upon the request of any party, the Claims shall be decided by three arbitrators. All arbitration hearings shall commence within
ninety (90) days of the demand for arbitration and close within ninety (90) days of commencement and the award of the arbitrator(s) shall be issued within thirty (30) days of the close of the hearing. However, the arbitrator(s), upon a showing of
good cause, may extend the commencement of the hearing for up to an additional sixty (60) days. The arbitrator(s) shall provide a concise written statement of reasons for the award. The arbitration award may be submitted to any court having
jurisdiction to be confirmed, judgment entered and enforced. 
  
 E. The arbitrator(s) will give effect to statutes of limitation in determining any Claim and may dismiss the arbitration on the basis that the Claim is barred. For purposes of the application of the statute of
limitations, the service on AAA under applicable AAA rules of a notice of Claim is the equivalent of the filing of a lawsuit. Any dispute concerning this arbitration provision or whether a Claim is arbitrable shall be determined by the
arbitrator(s). The arbitrator(s) shall have the power to award legal fees pursuant to the terms of this agreement. 
  
 F. This paragraph does not limit the right of any party to: (A) exercise self-help remedies, such as but not limited to, setoff; (B)
initiate judicial or non-judicial foreclosure 

  

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against any real or personal property collateral; (C) exercise any judicial or power of sale rights, or (D) act in a court of law to obtain an interim
remedy, such as but not limited to, injunctive relief, writ of possession or appointment of a receiver, or additional or supplementary remedies. 
  
 G. The filing of a court action is not intended to constitute a waiver of the right of any party, including the suing party, thereafter to
require submittal of the Claim to arbitration. 
  
 H. By agreeing to binding arbitration, the parties irrevocably and voluntarily waive any right they may have to a trial by jury in respect of any Claim. Furthermore, without intending in any way to limit this agreement to arbitrate, to the
extent any Claim is not arbitrated, the parties irrevocably and voluntarily waive any right they may have to a trial by jury in respect of such Claim. This provision is a material inducement for the parties entering into this agreement. 

 
 16. Controlling Document. To the extent that this Continuing and
Unconditional Guaranty conflicts with or is in any way incompatible with any other Loan Document concerning this Obligation, any promissory note shall control over any other document, and if such promissory note does not address an issue, then each
other document shall control to the extent that it deals most specifically with an issue. 
  
 17. Execution Under Seal. This Guaranty is being executed under seal by Guarantor. 
  
 18. NOTICE OF FINAL AGREEMENT. THIS WRITTEN CONTINUING AND UNCONDITIONAL GUARANTY REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
  

[remainder of page intentionally left blank] 
  

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 IN WITNESS WHEREOF, the undersigned has caused this Guaranty to be executed under seal on this 1st day of April, 2005. 
  

					
	Guarantor:	 	 
		
	SYCOM SERVICES, INC.	 	 
			
	By:	 	 /s/ Sterling E. Phillips, Jr.
	 	 (SEAL)

	 	 	 Name: Sterling E. Phillips, Jr.
	 	 
	 	 	 Title:   CEO
	 	 
		
	BETA ANALYTICS, INCORPORATED	 	 
			
	By:	 	 /s/ Sterling E. Phillips, Jr.
	 	 (SEAL)

	 	 	 Name: Sterling E. Phillips, Jr.
	 	 
	 	 	 Title:   CEO
	 	 

  

 10First Amendment to Amended and Restated Revolving Credit Facility Note

 Exhibit 10.4 
  
 FIRST AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT FACILITY NOTE 
  
 THIS FIRST AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT FACILITY NOTE
(this “Amendment”), dated as of April 1, 2005, is made and entered into by and among ANALEX CORPORATION, a Delaware corporation (the “Borrower”), and BANK OF AMERICA, N.A., a national banking association (the “Lender”).

  
 RECITALS 
  
 A. The Borrower and the Lender entered into that certain Amended and Restated
Credit Agreement dated as of May 28, 2004 which is being modified pursuant to that certain First Amendment to Amended and Restated Credit Agreement dated of even date herewith (the same, collectively, as amended, modified, substituted, extended, and
renewed from time to time, the “Agreement”). 
  
 B. The
Agreement provides for some of the agreements between the Borrower and the Lender with respect to the “Loan” (as defined in the Agreement), including Revolving Credit Facility Loans in an aggregate amount not to exceed Twenty Million
Dollars ($20,000,000) (the “Revolving Credit Facility Committed Amount”). All capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Agreement. 
  
 C. The Loan is evidenced by that certain Amended and Restated Revolving
Credit Facility Note dated May 28, 2004 by the Borrower for the benefit of the Lender in the maximum principal amount of Twenty Million Dollars ($20,000,000) (the same, as amended, modified, substituted, extended, and renewed from time to time, the
“Revolving Credit Facility Note”). 
  
 D. The Borrower
has requested and the Lender has agreed to increase the Revolving Credit Facility Committed Amount from Twenty Million Dollars ($20,000,000) to Forty Million Dollars ($40,000,000) at any time outstanding, and to extend the Revolving Credit Facility
Maturity Date. 
  
 E. The Lender is willing to agree to the
Borrower’s requests on the condition, among others, that this Amendment be executed. 
  
 AGREEMENTS 
  
 NOW
THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Borrower and Lender hereto agree as follows: 
  
 1. Incorporation of Recitals. The parties hereto agree that the
Recitals above are a part of this Amendment. Unless otherwise expressly defined in this Amendment, terms defined in the Agreement shall have the same meaning under this Amendment. 
  
 2. Continuation of Loan Terms. Except as otherwise expressly set forth below, the outstanding principal balance of
the Revolving Credit Facility Note shall continue to bear 

  

 
interest and to be repaid on the terms and subject to the conditions set forth in the Agreement and the other documents evidencing the Loan. 
  
 3. Principal Sum. Commencing as of the date hereof and continuing
until the Revolving Credit Facility Maturity Date, the maximum principal amount of the Revolving Credit Facility Note is hereby increased from Twenty Million Dollars ($20,000,000) to Forty Million Dollars ($40,000,000) (the “Principal
Sum”) and Borrower promises to pay to the Lender the Principal Sum, or so much thereof as has been advanced or readvanced to or for the account of the Borrower pursuant to the terms of the Agreement, together with interest thereon at the rate
or rates provided therein, on the Revolving Credit Facility Maturity Date. 
  
 4. Continuing Modifications; Novation. This Amendment is only an agreement amending and modifying certain provisions of the Revolving Credit Facility Note. All of the provisions of the Note are incorporated
herein by reference and shall remain and continue in full force and effect as amended by this Amendment. The Borrower hereby ratifies and confirms all of its obligations, liabilities and indebtedness under the provisions of the Note, as amended by
this Amendment and the Agreement as if the same were set forth herein. In the event that any of the terms and conditions in the Note or in any of the other Loan Documents conflict in any way with the terms and provisions hereof, the terms and
provisions hereof shall prevail. The Lender and the Borrower agree it is their intention that nothing herein shall be construed to extinguish, release or discharge or constitute, create or effect a novation of, or an agreement to extinguish, any of
the obligations, indebtedness and liabilities of the Borrower under the provisions of the Revolving Credit Facility Note or under the Loan Documents, or any assignment or pledge to the Lender of, or any security interest or lien granted to the
Lender in or on, any collateral and security for such obligations, indebtedness and liabilities and that the existing indebtedness of the Borrower to the Lender, evidenced by the Note is continuing without interruption, and has not been discharged
by a new agreement. 
  
 5. Counterparts. This Amendment may
be executed in any number of counterparts and by the different parties hereto on separate counterparts each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument.

  
 6. Successors and Assigns. This Amendment shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
  
 7. GOVERNING LAW. THIS MODIFICATION SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE COMMONWEALTH OF VIRGINIA
WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES THEREOF. 
  
 [SIGNATURES BEGIN ON NEXT PAGE] 
  

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly signed, sealed and delivered
by their properly and duly authorized officers as of the day and year first above-written. 
  

					
	 BORROWER:
	 	 
		
	 ANALEX CORPORATION
	 	 
			
	By:	 	 /s/ Sterling E. Phillips, Jr.
	 	(SEAL)
	 	 	 Name: Sterling E. Phillips, Jr.
	 	 
	 	 	 Title:   CEO
	 	 
		
	 LENDER:
	 	 
		
	 BANK OF AMERICA, N.A.
	 	 
			
	By:	 	 /s/ Jessica L. Tencza
	 	(SEAL)
	 	 	 Name: Jessica L. Tencza
	 	 
	 	 	 Title:   Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}]]