Document:

Unassociated Document

    
      Exhibit
        10.2
 

    REVOLVING
      CREDIT NOTE

    PNC
      Bank, National Association

    

    
      	
              $15,000,000

            	
              April
                17, 2008

            
	 	
              Woodbridge,
                N.J.

            

    

     

    This
      Revolving Credit Note (this “Note”) is executed and delivered under and pursuant
      to the terms of that certain Revolving Credit and Security Agreement dated
      as of
      the date hereof (as amended, restated, supplemented or modified from time to
      time, the “Loan Agreement”) by and among BCI
      COMMUNICATIONS, INC.,
      a
      corporation organized under the laws of the State of New Hampshire, (the
“Borrower”), and
      PNC
      BANK, NATIONAL ASSOCIATION (“PNC”), the various financial institutions named
      therein or which hereafter become a party thereto (together with PNC
      collectively, “Lenders”) and PNC as agent for Lenders (in such capacity,
“Agent”). Capitalized terms not otherwise defined herein shall have the meanings
      provided in the Loan Agreement. 

    

    FOR
      VALUE
      RECEIVED, the Borrower hereby promises to pay to the order of PNC, at the office
      of Agent located at PNC Bank Center, Two Tower Center, East Brunswick, New
      Jersey 08816 or at such other place as Agent may from time to time designate
      to
      Borrower in writing: 

    

    (i)
      the
      principal sum of FIFTEEN MILLION AND 00/100 DOLLARS ($15,000,000) or, if
      different from such amount, the unpaid principal balance of the Revolving
      Advances as may be due and owing to PNC under the Loan Agreement, payable in
      accordance with the provisions of the Loan Agreement, subject to acceleration
      upon the occurrence of an Event of Default under the Loan Agreement or earlier
      termination of the Loan Agreement pursuant to the terms thereof;
      and

    

    (ii)
      interest on the principal amount of this Note from time to time outstanding
      until such principal amount is paid in full at the applicable Revolving Interest
      Rate in accordance with the provisions of the Loan Agreement. In no event,
      however, shall interest exceed the maximum interest rate permitted by law.
      Upon
      and after the occurrence of an Event of Default, and during the continuation
      thereof, interest shall be payable at the Default Rate in accordance with the
      Loan Agreement;
      and

    

    (iii)
      notwithstanding
      anything to the contrary herein, in the Loan Agreement and/or in any Other
      Document, all outstanding principal and interest hereunder is due and payable
      on
      the Termination Date.

    

    This
      Note
      is a “Revolving Credit Note” referred to in the Loan Agreement and is
      secured,
      inter alia,
      by the
      liens granted pursuant to the Loan Agreement and the Other Documents, is
      entitled to the benefits of the Loan Agreement and the Other Documents and
      is
      subject to all of the agreements, terms and conditions therein
      contained.

    

    This
      Note
      is subject to mandatory prepayment, and may be voluntarily prepaid, in whole
      or
      in part, in each case, on the terms and conditions set forth in the Loan
      Agreement.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    If
      an
      Event of Default under Section 10.7 or 10.8 of the Loan Agreement shall occur,
      then this Note shall immediately become due and payable, without notice,
      together with reasonable attorneys’ fees if the collection hereof is placed in
      the hands of an attorney to obtain or enforce payment hereof. If any other
      Event
      of Default shall occur under the Loan Agreement or any of the Other Documents,
      which is not cured within any applicable grace period, then this Note may,
      as
      provided in the Loan Agreement, be declared to be immediately due and payable,
      without notice, together with reasonable attorneys’ fees, if the collection
      hereof is placed in the hands of an attorney to obtain or enforce payment
      hereof.

    

    Lenders
      may at any time pledge or assign all or any portion of their rights under the
      Loan Agreement and the Other Documents (including any portion of this Note)
      to
      any of the twelve (12) Federal Reserve Banks organized under Section 4 of the
      Federal Reserve Act, 12 U.S.C. Section 341. No such pledge or assignment or
      enforcement thereof shall release Lenders from their obligations under the
      Loan
      Agreement or any of the Other Documents.

    

    This
      Note
      shall be construed and enforced in accordance with the laws of the State of
      New
      Jersey.

    

    Borrower
      expressly waives any presentment, demand, protest, notice of protest, or notice
      of any kind except as expressly provided in the Loan Agreement.

    

    
      	
              ATTEST:

            	 	
              BCI
                COMMUNICATIONS, INC.

            
	 	 	 	 	 
	 	 	 	 	 
	
              By:
                

            	
                             
                

            	 	
              By:
                

            	
                                  
                

            
	
              Name:
                

            	
              NICHOLAS
                DAY

            	 	
              Name:
                

            	
              RICHARD
                BERLINER

            
	
              Title:
                

            	
              General
                Counsel and Secretary

            	 	
              Title:
                

            	
              Chief
                Executive Officer and President

            

    

     

    
      
        
        

      

      
        2Unassociated Document

    Exhibit
      10.3

    GUARANTY
      AND SURETYSHIP AGREEMENT

    

    THIS
      GUARANTY AND SURETYSHIP AGREEMENT
      (this
“Guaranty”)
      is made
      and entered into as of this 17th
      day of
      April, 2008, by BERLINER
      COMMUNICATIONS, INC. (the“Guarantor”),
      with
      an address at 97 Linden Avenue, Elmwood Park, New Jersey 07407, in consideration
      of the extension of credit by PNC
      BANK, NATIONAL ASSOCIATION (the
      “PNC”),
      with
      an address at PNC
      Bank
      Center, Two Tower Center, East Brunswick, New Jersey 08816,
      the
      various financial institutions named in the Loan Agreement (as defined herein)
      or which hereafter become a party thereto (together with PNC collectively,
      “Lenders”),
      and
      PNC as agent for Lenders (in such capacity, “Agent”),
      to
      BCI
      COMMUNICATIONS, INC.
      (the
      “Borrower”),
      and
      other good and valuable consideration, the receipt and sufficiency of which
      are
      hereby acknowledged. 

    

    1.
      Guaranty
      of Obligations.
      The
      Guarantor hereby unconditionally guarantees, and becomes surety for, the prompt
      payment and performance of all loans, advances, debts, liabilities, obligations,
      covenants and duties owing by the Borrower to the Agent for the benefit of
      the
      Lenders, any Lender or to any other direct or indirect subsidiary of the parent
      of any Lender, of any kind or nature, present or future (including any interest
      accruing thereon after maturity, or after the filing of any petition in
      bankruptcy, or the commencement of any insolvency, reorganization or like
      proceeding relating to the Borrower, whether or not a claim for post-filing
      or
      post-petition interest is allowed in such proceeding), whether direct or
      indirect (including those acquired by assignment or participation), absolute
      or
      contingent, joint or several, due or to become due, now existing or hereafter
      arising, whether or not (i) evidenced by any note, guaranty or other instrument,
      (ii) arising under a certain Revolving Credit and Security Agreement dated
      the
      date hereof by and among the Borrower, the Agent and the Lenders, as may be
      amended, modified, restated and/or replaced from time to time, (the “Loan
      Agreement”), any other agreement, instrument or document, (iii) for the payment
      of money, (iv) arising by reason of an extension of credit, opening of a letter
      of credit, loan, equipment lease or guarantee, (v) under any interest or
      currency swap, future, option or other interest rate protection or similar
      agreement, (vi) under or by reason of any foreign currency transaction, forward,
      option or other similar transaction providing for the purchase of one currency
      in exchange for the sale of another currency, or in any other manner, or (vii)
      arising out of overdrafts on deposit or other accounts or out of electronic
      funds transfers (whether by wire transfer or through automated clearing houses
      or otherwise) or out of the return unpaid of, or other failure of the Agent
      or
      Lenders to receive final payment for, any check, item, instrument, payment
      order
      or other deposit or credit to a deposit or other account, or out of the Agent's
      or Lender’s non-receipt of or inability to collect funds or otherwise not being
      made whole in connection with depository or other similar arrangements; and
      any
      amendments, extensions, renewals and increases of or to any of the foregoing,
      and all costs and expenses of the Agent or Lenders incurred in the
      documentation, negotiation, modification, enforcement, collection and otherwise
      in connection with any of the foregoing, including reasonable attorneys' fees
      and expenses (hereinafter referred to collectively as the “Obligations”).
      If the
      Borrower defaults under any such Obligations, the Guarantor will pay the amount
      due to the Agent for the benefit of the Lenders.

    

    2.  Nature
      of Guaranty; Waivers.  This
      is a guaranty of payment and not of collection and the Agent shall not be
      required or obligated, as a condition of the Guarantor's liability, to make
      any
      demand upon or to pursue any of its rights against the Borrower, or to pursue
      any rights which may be available to it with respect to any other person who
      may
      be liable for the payment of the Obligations.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    This
      is
      an absolute, unconditional, irrevocable and continuing guaranty and will remain
      in full force and effect until all of the Obligations have been indefeasibly
      paid in full, and the Agent has terminated this Guaranty. This Guaranty will
      remain in full force and effect even if there is no principal balance
      outstanding under the Obligations at a particular time or from time to time.
      This Guaranty will not be affected by any surrender, exchange, acceptance,
      compromise or release by the Agent or any Lender of any other party, or any
      other guaranty or any security held by it for any of the Obligations, by any
      failure of the Agent or any Lender to take any steps to perfect or maintain
      its
      lien or security interest in or to preserve its rights to any security or other
      collateral for any of the Obligations or any guaranty, or by any irregularity,
      unenforceability or invalidity of any of the Obligations or any part thereof
      or
      any security or other guaranty thereof. The Guarantor's obligations hereunder
      shall not be affected, modified or impaired by any counterclaim, set-off
      recoupment, deduction or defense based upon any claim the Guarantor may have
      (directly or indirectly) against the Borrower or the Agent or any Lender, except
      payment or performance of the Obligations.

    

    Notice
      of
      acceptance of this Guaranty, notice of extensions of credit to the Borrower
      from
      time to time, notice of default, diligence, presentment, notice of dishonor,
      protest, demand for payment, and any defense based upon the Agent's or any
      Lender’s failure to comply with the notice requirements under Sections 9-611 and
      9-612 of the Uniform Commercial Code as in effect from time to time are hereby
      waived. The Guarantor waives all defenses based on suretyship or impairment
      of
      collateral.

    

    The
      Agent
      or the Lenders at any time and from time to time, without notice to or the
      consent of the Guarantor, and without impairing or releasing, discharging or
      modifying the Guarantor's liabilities hereunder, may (a) change the manner,
      place, time or terms of payment or performance of or interest rates on, or
      other
      terms relating to, any of the Obligations; (b) renew, substitute, modify,
      amend or alter, or grant consents or waivers relating to any of the Obligations,
      any other guaranties, or any security for any Obligations or guaranties;
      (c) apply any and all payments by whomever paid or however realized
      including any proceeds of any collateral, to any Obligations of the Borrower
      in
      such order, manner and amount as the Agent or the Lenders may determine in
      its
      sole discretion; (d) settle, compromise or deal with any other person,
      including the Borrower or the Guarantor, with respect to any Obligations in
      such
      manner as the Agent or any Lender deems appropriate in its sole discretion;
      (e) substitute, exchange or release any security or guaranty; or (f) take
      such actions and exercise such remedies hereunder as provided
      herein.

    

    3.  Repayments
      or Recovery from the Agent.  If
      any demand is made at any time upon the Agent or the Lenders for the repayment
      or recovery of any amount received by it in payment or on account of any of
      the
      Obligations and if the Agent or the Lenders repays all or any part of such
      amount by reason of any judgment, decree or order of any court or administrative
      body or by reason of any settlement or compromise of any such demand, the
      Guarantor will be and remain liable hereunder for the amount so repaid or
      recovered to the same extent as if such amount had never been received
      originally by the Agent or such Lenders. The provisions of this section will
      be
      and remain effective notwithstanding any contrary action which may have been
      taken by the Guarantor in reliance upon such payment, and any such contrary
      action so taken will be without prejudice to the Agent's rights hereunder and
      will be deemed to have been conditioned upon such payment having become final
      and irrevocable.

    

    4.
      Financial
      Statements.
      Unless
      compliance is waived in writing by the Agent or until all of the Obligations
      have been paid in full, the Guarantor will promptly submit such information
      relating to the Guarantor’s affairs as requested by the Agent from time to time
      in it sole discretion.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    5.  Enforceability
      of Obligations.  No
      modification, limitation or discharge of the Obligations arising out of or
      by
      virtue of any bankruptcy, reorganization or similar proceeding for relief of
      debtors under federal or state law will affect, modify, limit or discharge
      the
      Guarantor's liability in any manner whatsoever and this Guaranty will remain
      and
      continue in full force and effect and will be enforceable against the Guarantor
      to the same extent and with the same force and effect as if any such proceeding
      had not been instituted. The Guarantor waives all rights and benefits which
      might accrue to it by reason of any such proceeding and will be liable to the
      full extent hereunder, irrespective of any modification, limitation or discharge
      of the liability of the Borrower that may result from any such
      proceeding.

    

    The
      Guarantor expressly waives the effect of any statute of limitations or other
      limitations on any actions under this Guaranty.

    

    6.  Events
      of Default.  Any
      Event of Default (as defined in the Loan Agreement) shall constitute an
“Event
      of Default” hereunder.
      Upon the occurrence of any Event of Default, (a) the Guarantor shall pay to
      the
      Agent the amount of the Obligations (exclusive of Obligations under any interest
      rate swap agreements with any Lenders or any of their affiliates, which shall
      be
      controlled by such interest rate swap agreements);
      or (b)
      on demand of the Agent, the Guarantor shall immediately deposit with the Agent,
      in U.S. dollars, all amounts due or to become due under the Obligations, and
      the
      Agent may at any time use such funds to repay the Obligations; or (c) the Agent
      in its discretion may exercise with respect to any collateral any one or more
      of
      the rights and remedies provided a secured party under the applicable version
      of
      the Uniform Commercial Code; or (d) the Agent in its discretion may exercise
      from time to time any other rights and remedies available to it at law, in
      equity or otherwise.

    

    7.
      Right
      of Setoff.
      In
      addition to all liens upon and rights of setoff against the Guarantor’s money,
      securities or other property given to the Agent or to any Lenders by law, the
      Agent shall have, with respect to the Guarantor's obligations to the Agent
      under
      this Guaranty and to the extent permitted by law, a contractual possessory
      security interest in and a contractual right of setoff against, and the
      Guarantor hereby grants Agent a security interest in, and hereby assigns,
      conveys, delivers, pledges and transfers to the Agent or to any Lenders all
      of
      the Guarantor's right, title and interest in and to, all of the Guarantor’s
      deposits, moneys, securities and other property now or hereafter in the
      possession of or on deposit with, or in transit to, the Agent, any Lenders
      or
      any other direct or indirect subsidiary of any parent of any Lender, whether
      held in a general or special account or deposit, whether held jointly with
      someone else, or whether held for safekeeping or otherwise, excluding, however,
      all IRA, Keogh, and trust accounts. Every such security interest and right
      of
      setoff may be exercised without demand upon or notice to the Guarantor. Every
      such right of setoff shall be deemed to have been exercised immediately upon
      the
      occurrence of an Event of Default hereunder without any action of the Agent,
      although the Agent may enter such setoff on its books and records at a later
      time.

    

    8.
      Collateral.
      This
      Guaranty is secured by the property described in the Loan Agreement and in
      any
      collateral security documents which the Guarantor executes and delivers to
      the
      Agent and by such other collateral as previously may have been or may in the
      future be granted to the Agent to secure any Obligations of the Guarantor to
      the
      Agent.

    

    9.  Costs.  To
      the extent that the Agent incurs any costs or expenses in protecting or
      enforcing its rights under the Obligations or this Guaranty, including
      reasonable attorneys' fees and the costs and expenses of litigation, such costs
      and expenses will be due on demand, will be included in the Obligations and
      will
      bear interest from the incurring or payment thereof at the Default Rate (as
      defined in the Loan Agreement).

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    10.
      Postponement
      of Subrogation.
      Until
      the Obligations are indefeasibly paid in full, expire, are terminated and are
      not subject to any right of revocation or rescission, the Guarantor postpones
      and subordinates in favor of the Agent or its designee (and any assignee or
      potential assignee) any and all rights which the Guarantor may have to (a)
      assert any claim whatsoever against the Borrower based on subrogation,
      exoneration, reimbursement, or indemnity or any right of recourse to security
      for the Obligations with respect to payments made hereunder, and (b) any
      realization on any property of the Borrower, including participation in any
      marshalling of the Borrower's assets.

    

    11.
      Notices.  All
      notices, demands, requests, consents, approvals and other communications
      required or permitted hereunder (“Notices”)
      must be
      in writing and will be effective upon receipt. Notices may be given in any
      manner to which the Agent and the Guarantor may separately agree, including
      electronic mail. Without limiting the foregoing, first-class mail, facsimile
      transmission and commercial courier service are hereby agreed to as acceptable
      methods for giving Notices. Regardless of the manner in which provided, Notices
      may be sent to addresses for the Agent and the Guarantor as set forth above
      or
      to such other address as either may give to the other for such purpose in
      accordance with this section.

    

    12.  Preservation
      of Rights.  No
      delay or omission on the Agent's part to exercise any right or power arising
      hereunder will impair any such right or power or be considered a waiver of
      any
      such right or power, nor will the Agent's action or inaction impair any such
      right or power. The Agent's rights and remedies hereunder are cumulative and not
      exclusive of any other rights or remedies which the Agent may have under other
      agreements, at law or in equity. The Agent may proceed in any order against
      the
      Borrower, the Guarantor or any other obligor of, or collateral securing, the
      Obligations.

    

    13.
      Illegality.
      If any
      provision contained in this Guaranty should be invalid, illegal or unenforceable
      in any respect, it shall not affect or impair the validity, legality and
      enforceability of the remaining provisions of this Guaranty.

    

    14.
      Changes
      in Writing.
      No
      modification, amendment or waiver of, or consent to any departure by the
      Guarantor from, any provision of this Guaranty will be effective unless made
      in
      a writing signed by the Lenders, and then such waiver or consent shall be
      effective only in the specific instance and for the purpose for which given.
      No
      notice to or demand on the Guarantor will entitle the Guarantor to any other
      or
      further notice or demand in the same, similar or other
      circumstance.

    

    15.
      Entire
      Agreement.
      This
      Guaranty (including the documents and instruments referred to herein)
      constitutes the entire agreement and supersedes all other prior agreements
      and
      understandings, both written and oral, between the Guarantor and the Agent
      with
      respect to the subject matter hereof; provided, however, that this Guaranty
      is
      in addition to, and not in substitution for, any other guarantees from the
      Guarantor to the Agent.

    

    16.
      Successors
      and Assigns.
      This
      Guaranty will be binding upon and inure to the benefit of the Guarantor and
      the
      Agent and their respective heirs, executors, administrators, successors and
      assigns; provided,
      however,
      that
      the Guarantor may not assign this Guaranty in whole or in part without the
      Agent's prior written consent and the Agent at any time may assign this Guaranty
      in whole or in part.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    17.
      Interpretation.
      In this
      Guaranty, unless the Agent and the Guarantor otherwise agree in writing, the
      singular includes the plural and the plural the singular; references to statutes
      are to be construed as including all statutory provisions consolidating,
      amending or replacing the statute referred to; the word “or” shall be deemed to
      include “and/or”, the words “including”, “includes” and “include” shall be
      deemed to be followed by the words “without limitation”; and references to
      sections or exhibits are to those of this Guaranty. Section headings in this
      Guaranty are included for convenience of reference only and shall not constitute
      a part of this Guaranty for any other purpose. If this Guaranty is executed
      by
      more than one party as Guarantor, the obligations of such persons or entities
      will be joint and several. All capitalized terms not otherwise defined herein
      shall have the definition ascribed to them in the Loan Agreement.

    

    18.
      Indemnity.
      The
      Guarantor agrees to indemnify each of the Lenders, each legal entity, if any,
      who controls any Lender and each of their respective directors, officers and
      employees (the “Indemnified
      Parties”),
      and to
      hold each Indemnified Party harmless from and against, any and all claims,
      damages, losses, liabilities and expenses (including all fees and charges of
      internal or external counsel with whom any Indemnified Party may consult and
      all
      expenses of litigation and preparation therefor) which any Indemnified Party
      may
      incur or which may be asserted against any Indemnified Party by any person,
      entity or governmental authority (including any person or entity claiming
      derivatively on behalf of the Guarantor), in connection with or arising out
      of
      or relating to the matters referred to in this Guaranty, whether (a) arising
      from or incurred in connection with any breach of a representation, warranty
      or
      covenant by the Guarantor, or (b) arising out of or resulting from any suit,
      action, claim, proceeding or governmental investigation, pending or threatened,
      whether based on statute, regulation or order, or tort, or contract or
      otherwise, before any court or governmental authority; provided,
      however,
      that
      the foregoing indemnity agreement shall not apply to any claims, damages,
      losses, liabilities and expenses solely attributable to an Indemnified Party's
      gross negligence or willful misconduct. The indemnity agreement contained in
      this Section shall survive the termination of this Guaranty and assignment
      of
      any rights hereunder. The Guarantor may participate at its expense in the
      defense of any such claim.

    

    19.
      Governing
      Law and Jurisdiction.
      This
      Guaranty has been delivered to and accepted by the Agent and will be deemed
      to
      be made in the State of New Jersey. THIS
      GUARANTY WILL BE INTERPRETED AND THE RIGHTS AND LIABILITIES OF THE AGENT AND
      THE
      GUARANTOR DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW JERSEY,
      EXCLUDING ITS CONFLICT OF LAWS RULES. The
      Guarantor hereby irrevocably consents to the exclusive jurisdiction of any
      state
      or federal court in the county or judicial district in the State of New Jersey;
      provided that nothing contained in this Guaranty will prevent the Agent from
      bringing any action, enforcing any award or judgment or exercising any rights
      against the Guarantor individually, against any security or against any property
      of the Guarantor within any other county, state or other foreign or domestic
      jurisdiction. The Guarantor acknowledges and agrees that the venue provided
      above is the most convenient forum for both the Agent and the Guarantor. The
      Guarantor waives any objection to venue and any objection based on a more
      convenient forum in any action instituted under this Guaranty.

     

    20.
      WAIVER
      OF JURY TRIAL.
      THE GUARANTOR IRREVOCABLY WAIVES ANY AND ALL RIGHT THE GUARANTOR MAY HAVE TO
      A
      TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM OF ANY NATURE RELATING TO
      THIS
      GUARANTY, ANY DOCUMENTS EXECUTED IN CONNECTION WITH THIS GUARANTY OR ANY
      TRANSACTION CONTEMPLATED IN ANY OF SUCH DOCUMENTS. THE GUARANTOR ACKNOWLEDGES
      THAT THE FOREGOING WAIVER IS KNOWING AND
      VOLUNTARY.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    The
      Guarantor acknowledges that it has read and understood all the provisions of
      this Guaranty, including the waiver of jury trial, and has been advised by
      counsel as necessary or appropriate.

    

    The
      due
      execution hereof as of the date first written above, with the intent to be
      legally bound hereby.

     

    
      	
              ATTEST:

            	 	
              BERLINER
                COMMUNICATIONS, INC.

            
	 	 	 	 	 
	 	 	 	 	 
	
                 
                

            	              
              	
            	
              
                By: 

              

            	             
              
	
              Name: 

            	NICHOLAS
              DAY	
            	
              Name:
                

            	
              RICHARD
                BERLINER

            
	
              Title:
                

            	General
              Counsel and Secretary 	
               

            	
              Title:
                

            	
              Chief
                Executive Officer and President

            

    

     

    
      
        
        

      

      
        6

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