Document:

Unassociated Document

    AMENDMENT
NO. 14 AND WAIVER TO CREDIT AGREEMENT

    

    AMENDMENT NO. 14 AND WAIVER,
dated as of June 29, 2010 (this “Amendment and Waiver”), with respect to
the Credit Agreement, dated as of May 20, 2002 (as same has been and may be
further amended, restated, supplemented or modified, from time to time, the
“Credit Agreement”), by and between AMERICAN MEDICAL ALERT CORP.,
a New York corporation (the “Company”) and JPMORGAN CHASE BANK, N.A., as
successor-in-interest to The Bank of New York, a national banking association
(the “Lender”).

    

    RECITALS

    

    The
Company has requested, and the Lender has agreed subject to the terms and
conditions of this Amendment and Waiver, to amend and waive certain provisions
of the Credit Agreement, all as herein set forth.

    

    Accordingly,
in consideration of the premises and of the mutual covenants and agreements
hereinafter set forth, the parties hereto agree as follows:

    

    1.           Amendment.  The
definition of the term “Revolving Credit Commitment
Termination Date“  in Section 1.01 of the Credit Agreement is
hereby amended and restated in its entirety to provide as follows:

     

    “Revolving
Credit Commitment Termination Date” shall mean June 30, 2013.

     

    2.           Waiver. The Lender
hereby waives the late receipt of (i) the management prepared consolidating
interim balance sheet and the related management prepared interim consolidating
statement of income of the Company and the Corporate Guarantors, each required
to be delivered to the Lender pursuant to Section 6.03(b)(ii) of the Credit
Agreement and (ii) the Chief Financial Officer's certificate, required to be
delivered  to the Lender pursuant to Section 6.03(b)(ii) and 6.03(c)
of the Credit Agreement, all for the fiscal quarter ended March 31, 2010,
provided that such statements and certificate were received by June 21,
2010.

     

    3.           Conditions of
Effectiveness. This Amendment and Waiver shall become effective upon
receipt by  (i) the Lender of this Amendment and Waiver, duly executed
by the Company and each Guarantor and such other documents, instruments and
agreements that the Lender shall reasonably require with respect thereto and
(ii) Farrell Fritz, P.C., of its reasonable attorneys’ fees and expenses
incurred in connection with the preparation, execution and delivery of this
Amendment and Waiver, plus all outstanding amounts owed to Farrell Fritz, P.C.
for unpaid attorney’s fees and expenses.

     

    4.           Miscellaneous.

     

    (a)           This
Amendment and Waiver shall be governed by and construed in accordance with the
laws of the State of New York.

     

    (b)           All
terms used herein shall have the same meaning as in the Credit Agreement, as
amended hereby, unless specifically defined herein.

     

    (c)           This
Amendment and Waiver shall constitute a Loan Document.

    
      
         

      

      
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    (d)          Except
as expressly amended and waived hereby, the Credit Agreement remains in full
force and effect in accordance with the terms thereof.  The Credit
Agreement and the Loan Documents are each ratified and confirmed in all respects
by the Company.  The amendments and waivers herein are limited
specifically to the matters set forth above and for the specific instance and
purpose for which given and do not constitute directly or by implication an
amendment or waiver of any other provisions of the Credit Agreement or a waiver
of any Default or Event of Default which may occur or may have occurred under
the Credit Agreement or any other Loan Document.

     

    (e)           Upon
the effectiveness of this Amendment and Waiver, each reference in the Credit
Agreement and the other Loan Documents to “this Agreement”, “hereunder”,
“hereof”, “herein” or words of like import shall mean and be a reference to the
Credit Agreement, as amended hereby.

     

    (f)           The
Company hereby represents and warrants that, (i) except with respect to the
matters described in the Press Release (as defined in Amendment No. 2 to Credit
Agreement, dated as of March  28, 2005 between the Company and the
Lender), the representations and warranties by the Company pursuant to the
Credit Agreement and each other Loan Document, as updated by the Schedules
attached hereto, are true and correct, in all material respects, on the date
hereof, and (ii) no Default or Event of Default exists under the Credit
Agreement or any other Loan Document; provided that, the  Lender
hereby acknowledges and agrees that the representations and warranties of the
Company contained in the Credit Agreement and those covenants set forth in
Sections 6.05, 6.06, 6.07, and 6.12 of the Credit Agreement shall not be deemed
(prior to, at or after this date of this Amendment and Waiver) to be breached as
a result of the matters described in the Press Release, provided that such
matter or matters do not now or shall not hereafter cause a Material Adverse
Effect or cause the occurrence of any other Event of Default, it being agreed
and understood that the $1,500,000 charge described in the Press Release, in
itself, will not be deemed to constitute a Material Adverse Effect.

     

    (g)          The
Company hereby: (a) acknowledges and confirms that, notwithstanding the
consummation of the transactions contemplated by this Amendment and Waiver, (i)
all terms and provisions contained in the Security Documents are, and shall
remain, in full force and effect in accordance with their respective terms and
(ii) the liens heretofore granted, pledged and/or assigned to the Lender as
security for the Company’s obligations under the Notes, the Credit Agreement and
the other Loan Documents shall not be impaired, limited or affected in any
manner whatsoever by reason of this Amendment and Waiver and that all such liens
shall be deemed granted, pledged and/or assigned to the Lender as security for
the Company’s obligations to the Lender, (b) represents, warrants and confirms
the non-existence of any offsets, defenses, or counterclaims to its obligations
under the Credit Agreement or any Loan Document and (c) represents and warrants
that the execution, delivery and performance by the Company of this Amendment
and Waiver has been duly authorized by all requisite corporate action, if
any.

     

    (h)          This
Amendment and Waiver may be executed in one or more counterparts, each of which
shall constitute an original, but all of which, when taken together, shall
constitute but one Amendment and Waiver.

    

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page is signature page]

    
      
         

      

      
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    IN WITNESS WHEREOF, the
Company and the Lender have caused this Amendment and Waiver to be duly executed
by their duly authorized officers as of the day and year first above
written.

    

    
      
        	 
      	
                AMERICAN
      MEDICAL ALERT CORP.

              
	 
      	 
      
	 
      	
                By:
      /s/ Jack Rhian                

              
	 
      	
                Name:
      Jack Rhian

              
	 
      	
                Title:  
      President

              
	 
      	 
      
	 
      	
                JPMORGAN
      CHASE BANK, N.A.

              
	 
      	 
      
	 
      	
                By:
      /s/ Carolyn Lattanzi             

              
	 
      	
                Name:  Carolyn
      Lattanzi

              
	 
      	
                Title:    Vice
      President

              

      

    

    

    The
undersigned, not parties to the Credit Agreement but as Guarantors under their
respective Guaranties executed in favor of the Lender, dated as of May 20, 2002,
and as Grantors under the Security Agreement, dated as of May 20, 2002, each
hereby (a) accept and agree to the terms of the foregoing Amendment and Waiver,
(b) acknowledge and confirm that all terms and provisions contained in their
respective Guaranty are, and shall remain, in full force and effect in
accordance with their respective terms and (c) (i) all terms and provisions
contained in the Security Agreement are and shall remain, in full force and
effect in accordance with their respective terms and (ii) the liens heretofore
granted, pledged and/or assigned to the Lender as security for the Guaranteed
Obligations (as defined in the Guaranty) shall not be impaired, limited or
affected in any manner whatsoever by reason of this Amendment and Waiver and
that all such liens shall be deemed granted, pledged and/or assigned to the
Lender as security for the Guarantee Obligations.

    

    
      
        
          	 
      	
                  HCI
      ACQUISITION CORP.

                	 
      
	 
      	
                  SAFE
      COM INC.

                	 
      
	 
      	
                  LIVE
      MESSAGE AMERICA ACQUISITION CORP.

                	 
      
	 
      	
                  NORTH
      SHORE ANSWERING SERVICE, INC.

                	 
      
	 
      	
                  ANSWER
      CONNECTICUT ACQUSITION CORP.

                	 
      
	 
      	
                  MD
      ONCALL ACQUISITION CORP.

                	 
      
	 
      	
                  AMERICAN
      MEDICONNECT ACQUISITION CORP.

                	 
      
	 
      	 
      	 
      
	 
      	
                  By:
      /s/ Jack Rhian                

                	 
      
	 
      	
                  Jack
      Rhian, the President of each

                	 
      
	 
      	
                  of
      the foregoing corporations

                	 
      

        

      

    

    
      
         

      

      
        3Unassociated Document

    WAIVER, dated as of July 12,
2010 (this “Waiver”) to the Credit Agreement, dated as of May 20, 2002 (as same
has been and may be further amended, restated, supplemented or modified, from
time to time, the “Credit Agreement”), by and between AMERICAN MEDICAL ALERT CORP.,
a New York corporation (the “Company”) and JPMORGAN CHASE BANK, N.A., as
successor-in-interest to The Bank of New York, a national banking association
(the “Lender”).

    

    WHEREAS, the Company has
requested and the Lender has agreed, subject to the terms and conditions of this
Waiver, to waive compliance with certain provisions of the Credit Agreement as
hereinafter set forth.

    

    NOW, THEREFORE, in
consideration of the premises and of the mutual agreements herein contained, the
parties hereto agree as follows:

    

    1.           Waiver.   The
Lender hereby waives compliance with the provisions of Section 7.15 of the
Credit Agreement solely in order to permit the Company to pay a special dividend
during the months of September or October 2010 equal to ten cents ($.10) per
share of the outstanding common stock of the Company as of September 13, 2010,
provided that no Default or Event of Default has occurred and is then
continuing, all in accordance with the resolutions approved by the Board of
Directors of the Company with respect thereto.

    

    2.           Conditions
to Effectiveness.  This Waiver shall become effective upon
receipt by (1) the Lender of (a) this Waiver, duly executed by the Company and
(b) a copy of the resolutions adopted by the Board of Directors of the Company
with respect to the dividend described in paragraph 1 above, certified by the
Secretary or Assistant Secretary of the Company.

    

    3.           Miscellaneous.

    

    Capitalized
terms used herein and not otherwise defined herein shall have the same meanings
as defined in the Credit Agreement.

    

    Except as
expressly waived hereby, the Credit Agreement shall remain in full force and
effect in accordance with the original terms thereof.

    

    The
waiver set forth above is limited specifically to the matter set forth above and
for the specific instance and purpose given and does not constitute directly or
by implication a waiver or amendment of any other provision of the Credit
Agreement or a waiver of any Default or Event of Default, whether now existing
or hereafter arising, which may occur or may have occurred.

    

    Except as
expressly waived hereby, the Credit Agreement shall remain in full force and
effect in accordance with the original terms thereof.  The Credit
Agreement is ratified and confirmed in all respects by the Company.

    

    The
Company hereby represents and warrants that, (i) the representations and
warranties by the Company pursuant to the Credit Agreement and each other Loan
Document are true and correct, in all material respects, on the date hereof, and
(ii) no Default or Event of Default exists under the Credit Agreement or any
other Loan Document.

    

    The
Company hereby: (a) acknowledges and confirms that, notwithstanding the
consummation of the transactions contemplated by this Waiver, (i) all terms and
provisions contained in the Security Documents are, and shall remain, in full
force and effect in accordance with their respective terms and (ii) the liens
heretofore granted, pledged and/or assigned to the Lender as security for the
Company’s obligations under the Credit Agreement and the other Loan Documents
shall not be impaired, limited or affected in any manner whatsoever by reason of
this Waiver; and (b) represents, warrants and confirms the non-existence of any
offsets, defenses, or counterclaims to its obligations under the Credit
Agreement or any Loan Document.

    
      
         

      

      
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    The
Company hereby further represents and warrants that the execution, delivery and
performance by the Company of this Waiver, (a) have been duly authorized by all
requisite corporate action, (b) will not violate or require any consent (other
than consents as have been made or obtained and which are in full force and
effect) under (i) any provision of law applicable to the Company, any applicable
rule or regulation of any Governmental Authority, or the Certificate of
Incorporation or By-laws of the Company, (ii) any order of any court or other
Governmental Authority binding on the Company or (iii) any agreement or
instrument binding on the Company.  Each of this Waiver and the Credit
Agreement constitutes a legal, valid and binding obligation of the
Company.

    

    This
Waiver may be executed in one or more counterparts, each of which shall
constitute an original, but all of which when taken together shall constitute
but one Waiver.

    

    This
Waiver shall constitute a Loan Document.

    

    THIS
WAIVER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

    

    IN WITNESS WHEREOF, the
Company and the Lender have caused this Waiver to be duly executed by their duly
authorized officers, all as of the day and year first above
written.

    

    
      
        	 
      	
                AMERICAN
      MEDICAL ALERT CORP.

              	 
      
	 
      	 
      	 
      
	 
      	
                By:
      /s/ Jack Rhian                

              	 
      
	 
      	
                Name:
        Jack Rhian

              	 
      
	 
      	
                Title:     President

              	 
      
	 
      	 
      	 
      
	 
      	
                JPMORGAN
      CHASE BANK, N.A.

              	 
      
	 
      	 
      	 
      
	 
      	
                By:
      /s/ Carolyn B. Lattanzi          
      

              	 
      
	 
      	
                Name:   
      Carolyn B. Lattanzi

              	 
      
	 
      	
                Title:      Vice
      President

              	 
      

      

    

    
      
         

      

      
        2

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