Document:

Exhibit 10.34

    EXHIBIT
      10.34

    

       

      FIRST
        AMENDMENT 

      TO
        AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

      

      This
        First Amendment to Amended and Restated Loan and Security Agreement (the
        "Amendment")
        is
        executed as of January 17, 2006, by and among HURON CONSULTING GROUP INC.,
        a
        Delaware corporation (referred to herein as "Parent"
        or
        "Parent
        Borrower"),
        and
        HURON CONSULTING SERVICES LLC, a Delaware limited liability company f/k/a
        Huron
        Consulting Group LLC (referred to herein as "Original
        Borrower"),
        and
        SPELTZ & WEISS LLC, a Delaware limited liability company ("Subsidiary")
        (each
        of the foregoing three entities shall collectively be referred to herein
        as the
        "Borrower")
        and
        LASALLE BANK NATIONAL ASSOCIATION, a national banking association whose address
        is 135 South LaSalle Street, Chicago, Illinois 60603 (the “Bank”),
        with
        reference to the following facts:

       

      RECITALS:

      

      	A.  	
              Original
                Borrower and Bank entered into that certain Loan and Security Agreement
                (the “Original
                Loan Agreement”)
                dated January 31, 2003, whereby Bank agreed to provide Original Borrower
                a
                secured, revolving loan in the principal amount not to exceed
                $5,000,000.00 (the "Revolving
                Loan"),
                with a maturity date of January 31, 2004.

            

      

      	B.  	
              Pursuant
                to a First Amendment to Loan and Security Agreement dated January
                28, 2004
                (the "First
                Amendment"),
                Original Borrower and Bank agreed to amend the Loan Agreement to,
                among
                other things, (i) increase the principal amount of the Revolving
                Loan to
                be $6,500,000.00, and (ii) extend the maturity date of the Revolving
                Loan
                to February 29, 2004.

            

      

      	C.  	
              Pursuant
                to a Second Amendment to Loan and Security Agreement dated February
                11,
                2004, Original Borrower and Bank agreed to further amend the Loan
                Agreement to (i) increase the principal amount of the Revolving Loan
                to be
                $15,000,000.00, (ii) extend the maturity date of the Revolving Loan
                to
                February 10, 2005, and (iii) permit certain advances under the Revolving
                Loan to be made on Eligible Work in Process (as defined
                below).

            

      

      	D.  	
              Pursuant
                to a Third Amendment to Loan and Security Agreement, Original Borrower
                and
                Bank agreed to further amend the Loan Agreement to clarify the definition
                of the defined term used in the Subsidiary's minimum equity covenant
                and
                to modify such covenant.

            

      

      	E.  	
              Pursuant
                to a Fourth Amendment to Loan and Security Agreement dated May 7,
                2004,
                Original Borrower and Bank agreed to further amend the Loan Agreement
                in
                connection with a potential initial public offering of the Original
                Borrower's parent company. 

            

       

      	F.  	
              Pursuant
                to a Fifth Amendment to Loan and Security Agreement dated December
                3,
                2004, Original Borrower and Bank agreed to further amend the Loan
                Agreement to waive the covenant requiring audited annual financial
                statements for Original Borrower's 2004 fiscal
                year.

            

      

      	G.  	
              Pursuant
                to an Amended and Restated Loan and Security Agreement (the "Loan
                Agreement")
                dated February 10, 2005, Parent, Original Borrower and Bank agreed
                to
                amend and restate the Original Loan Agreement to: (i) incorporate
                the
                amendments to the Loan Agreement referred to in the above Recitals;
                (ii)
                add the Parent as a co-borrower, (iii) increase the principal amount
                of
                the Revolving Loan to be $25,000,000.00 (iv) extend the maturity
                date of
                the Revolving Loan to be February 10, 2006, and (v) modify certain
                financial covenants. 

            

      

      
        	
                   H.

              	
                Pursuant
                  to a Joinder Agreement dated as of May 17, 2005, the Subsidiary,
                  which was
                  acquired by the Parent, became a party to the Loan
                  Agreement.

              

      

      

      
        	
                    I.

              	
                Borrower
                  has requested, and Bank has agreed, to amend the Loan Agreement
                  to extend
                  the maturity date of the Revolving Loan to be May 10, 2006, on
                  the terms
                  and conditions contained in this
                  Agreement.

              

      

      

      NOW,
        THEREFORE,
        for
        valid consideration, the receipt and sufficiency of which are hereby
        acknowledged, the parties hereto hereby agree as follows:

      

      
        	
                    1.

              	
                Recitals
                  and Certain Definitions.
                  The Recitals set forth above are true and correct and are incorporated
                  into this Amendment by this reference as if they were fully set
                  forth
                  herein. Unless the context requires otherwise, terms defined in
                  the Loan
                  Agreement shall have the same meaning in this Amendment. The term
“Loan
                  Agreement” as defined therein and in the other Loan Documents shall mean
                  the Loan Agreement as amended, including by this
                  Amendment.

              

      

      

      
        	
                    2.

              	
                Amendment.
                  In
                  order to amend the Loan Agreement in accordance with Recital I
                  above, the
                  following definition in Section 1.1 of the Loan Agreement is hereby
                  amended to read as follows:

              

      

      
        	
                 

              	
                 

                "Revolving
                  Loan Maturity Date"
                  shall mean May 10, 2006, unless extended by the Bank pursuant to
                  any
                  modification, extension or renewal note executed by the Borrower
                  and
                  accepted by the Bank in its sole and absolute discretion in substitution
                  of the Revolving Note.

              

      

      

      
        	
                    3.

              	
                Scope
                  of Amendment.
                  This Amendment does not limit the rights of Bank with respect to
                  any other
                  loan documents or any other loan or other relationship to which
                  the
                  Borrower or Bank may be parties determined, in each case, after
                  giving
                  effect to any amendments in connection with this
                  Amendment.

              

      

      

      
        	
                    4.

              	
                Reaffirmation
                  of Obligations.
                  Borrower (i) reaffirms all of its obligations under the Loan Documents
                  to
                  which it is a party, (ii) acknowledges that it has no claims, offsets,
                  or
                  defenses with respect to the payment of sums due under the Loan
                  Agreement
                  or any other Loan Document, (iii) acknowledges and consents to
                  the
                  modifications required pursuant to this Amendment, and (iv) acknowledges
                  that, except as otherwise provided herein, each of the other Loan
                  Documents is hereby ratified and confirmed and remains in full
                  force and
                  effect.

              

      

      

      
        	
                    5.

              	
                Reaffirmation
                  of Warranties and Representations.
                  Borrower hereby represents and warrants to Bank that after giving
                  effect
                  to this Amendment (a) all representations and warranties contained
                  in the
                  Loan Documents are true and correct as of the date hereof as if
                  made on
                  the date hereof
                  except to the extent such representation or warranty expressly
                  relates to
                  an earlier date,
                  (b) as of the date hereof Borrower is in full compliance with the
                  covenants contained in each of the Loan Documents, except for the
                  covenant
                  violation which was waived by Bank under the First Amendment, and
                  any
                  other covenant violation heretofore expressly waived by the Bank
                  in
                  writing or waived above, and (c) as of the date hereof there exists
                  no
                  Event of Default or any condition that, with the giving of notice
                  or lapse
                  of time or both, would constitute an Event of Default under any
                  of the
                  Loan Documents, except for the default waived in the First Amendment
                  or
                  any other defaults heretofore expressly waived by the Bank in writing
                  or
                  waived above.

              

      

      

      
        	
                    6.

              	
                Borrower
                  Authorization.
                  Borrower hereby authorizes Bank to file such financing statements
                  and
                  extensions as Bank from time to time deems necessary or desirable
                  to
                  continue the perfection of its security interest in the
                  Collateral.

              

      

      

      
        	
                    7.

              	
                Conditions
                  to Effectiveness of Amendment.
                  The effectiveness of this Amendment is subject to Borrower's satisfaction
                  of the following conditions:

              

      

      

      (a) Amendment.
        Borrower shall have delivered to Bank a duly executed counterpart of this
        Amendment.

      

      (b) Other
        Documents.
        Borrower shall have delivered to Bank all other documents, certificates and
        agreements as Bank may request to accomplish the purposes of this Amendment,
        including without limitation certified corporate resolutions and certificates
        and good standing certificates.

      

      (c) No
        Defaults.
        As of
        the date of this Amendment, no Event of Default under the Loan Agreement
        or any
        of the Loan Documents shall have occurred or be continuing, except for the
        default waived under the First Amendment above
        or
        any
        other defaults heretofore expressly waived by the Bank in writing or waived
        above.

      

      
        	
                    8.

              	
                Counterparts.
                  This document may be executed in counterparts, which taken together
                  shall
                  be considered one and the same
                  instrument.

              

      

      

      [EXECUTION
        PAGE FOLLOWS]

      
 

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
        WITNESS WHEREOF,
        the
        undersigned have executed this Amendment as of the date first above
        written.

      

      BORROWER:

       

      HURON
        CONSULTING GROUP INC.,
        a

      Delaware
        corporation

      

      By: /s/
        Daniel P. Broadhurst   

      Name:
        Daniel P. Broadhurst

      Title: VP
        of
        Operations / Asst. Secretary

      

      By: /s/
        Natalia Delgado    

      Name:
        Natalia Delgado

      Title: General
        Counsel / Corporate Secretary

      

      HURON
        CONSULTING SERVICES LLC,
        a

      Delaware
        limited liability company f/k/a

      Huron
        Consulting Group LLC

      

      By: /s/
        Daniel P. Broadhurst   

      Name:
        Daniel P. Broadhurst

      Title: VP
        of
        Operations / Asst. Secretary

      

      By: /s/
        Natalia Delgado    

      Name:
        Natalia Delgado

      Title: General
        Counsel / Corporate Secretary

      

      SPELTZ
        & WEIS LLC

      By:
        Huron
        Consulting Group Inc., its manager

      

      By: /s/
        Daniel P. Broadhurst   

      Name:
        Daniel P. Broadhurst

      Title: VP
        of
        Operations / Asst. Secretary

      

      By: /s/
        Natalia Delgado    

      Name:
        Natalia Delgado

      Title: General
        Counsel / Corporate Secretary

      

      BANK:

      LASALLE
        BANK NATIONAL ASSOCIATION,

      a
        national banking association

      

      By:
        /s/
        David Bacon   

      

      Name:
        David
        Bacon   

      

      Title:
         VPExhibit 10.35

    EXHIBIT
      10.35

    

       

      SIXTH
        AMENDED AND RESTATED

      SECURED
        REVOLVING LINE OF CREDIT NOTE

      

      

      $35,000,000.00                                                                                 Chicago,
        Illinois

                                                                                               March
        28, 2006

      

      FOR
        VALUE RECEIVED, HURON
        CONSULTING GROUP INC., a
        Delaware corporation, HURON
        CONSULTING SERVICES LLC,
        a
        Delaware limited liability company f/k/a Huron Consulting Group LLC, and
        Speltz
        & Weis LLC,
        a
        Delaware limited liability company (each of the foregoing three entities
        are
        hereby collectively referred to herein as the Borrower), jointly and severally
        promise to pay to the order of LASALLE
        BANK NATIONAL ASSOCIATION
        (the
“Bank”), at such place as Bank may from time to time designate in writing, the
        principal sum of THIRTY-FIVE
        MILLION AND NO/100 DOLLARS ($35,000,000.00),
        or such
        lesser principal sum as may then be owed by Borrower to Bank hereunder. Any
        principal that is borrowed and repaid hereunder may be borrowed again in
        accordance with the terms of this Note and that certain Amended and Restated
        Loan and Security Agreement dated February 10, 2005 between Borrower and
        Bank,
        as amended by that certain Amendment dated January 17, 2006 and that certain
        Amendment of even date herewith pursuant to which this Note is being delivered
        (the "Loan Agreement"). Except as hereinafter provided, Borrower’s obligations
        and liabilities to Bank under this Note (collectively, the “Borrower’s
        Liabilities”) unpaid from time to time shall bear interest at the rate(s)
        hereinafter set forth from the date advanced, disbursed or otherwise incurred
        until paid.

      

      All
        outstanding principal shall be payable on or prior to July 10, 2006 (the
        “Maturity Date”).

      

      The
        amount of principal hereunder shall bear interest as provided in the Loan
        Agreement.

      

      In
        no
        event will the interest rate hereunder exceed that permitted by applicable
        law.
        If any interest or other charge is finally determined by a court of competent
        jurisdiction to exceed the maximum amount permitted by law, the interest
        or
        charge shall be reduced to the maximum permitted by law, and the Bank may
        credit
        any excess amount previously collected against the balance due or refund
        the
        amount to the Borrower.

      

      Any
        check, draft or similar item of payment by or for the account of Borrower
        delivered to Bank on account of Borrower's Liabilities shall, provided the
        same
        is honored by Bank and final settlement thereof is reflected by irrevocable
        credit to Bank, be applied by Bank on account of Borrower's Liabilities in
        accordance with Bank's funds availability schedule and in such order as Bank
        shall determine in its sole discretion.

      

      Borrower
        warrants and represents to Bank and covenants with Bank that Borrower is
        not in
        the business of extending credit for the purpose of purchasing or carrying
        margin stock (within the meaning of Regulation U issued by the Board of
        Governors of the Federal Reserve System), and no proceeds represented by
        this
        Note will be used to purchase or carry any margin stock or to extend credit
        to
        others for the purpose of purchasing or carrying any margin stock.

      

      This
        Note
        amends and restates that certain Fifth Amended and Restated Secured Revolving
        Line of Credit Note (the "Prior Note") in the principal amount of Twenty-Five
        Million and 00/100 Dollars ($25,000,000.00) dated January 17, 2006 made by
        Borrower in favor of Bank. The indebtedness evidenced by the Prior Note is
        continuing indebtedness, and nothing herein shall be deemed to constitute
        a
        payment, settlement or novation of the Prior Note, or to release or otherwise
        adversely affect any lien, mortgage or security interest securing such
        indebtedness or any rights of Bank against any guarantor, surety or other
        party
        primarily or secondarily liable for such indebtedness.

      

      The
        occurrence of an Event of Default under the Loan Agreement shall constitute
        an
        Event of Default under this Note.

      

      Upon
        an
        Event of Default hereunder, Bank shall have the rights set forth in the Loan
        Agreement. The acceptance by Bank of any partial payment made hereunder after
        the time when any obligation under this Note becomes due and payable will
        not
        establish a custom, or waive any rights of Bank to enforce prompt payment
        hereof. Borrower and every endorser hereof waive presentment, demand and
        protest
        and notice of presentment, protest, default, non-payment, maturity, release,
        compromise, settlement, extension or renewal of this Note.

      

      This
        Note
        and Borrower’s Liabilities hereunder are secured by all security interests,
        mortgages, liens and encumbrances heretofore, now or hereafter granted to
        Bank
        by Borrower in the Loan Agreement.

      

      Collection
        fees and costs (including but not limited to reasonable attorneys' fees and
        costs) incurred by Bank in connection with the collection or enforcement
        of this
        Note will be payable in accordance with the Loan Agreement.

      

      If
        any
        provision of this Note or the application thereof to any party or circumstance
        is held invalid or unenforceable, the remainder of this Note and the application
        of such provision to other parties or circumstances will not be affected
        thereby
        and the provisions of this Note shall be severable in any such
        instance.

      

      This
        Note
        is submitted by Borrower to Bank at Bank’s principal place of business and shall
        be deemed to have been made thereat. This Note shall be governed and controlled
        by the laws of the State of Illinois as to interpretation, enforcement,
        validity, construction, effect, choice of law and in all other
        respects.

      

      To
        induce
        Bank to accept this Note, Borrower irrevocably agrees that, subject to Bank's
        sole and absolute election, all actions or proceedings in any way, manner
        or
        respect, arising out of or from or related to this Note, shall be litigated
        in
        courts having situs within Cook County, Illinois. Borrower hereby consents
        and
        submits to the jurisdiction of any local, state or federal court located
        within
        said county and state. Borrower hereby waives any right Borrower may have
        to
        transfer or change the venue of any litigation brought against Borrower by
        Bank
        in accordance with this paragraph.

      

      

      [SIGNATURE
        PAGE FOLLOWS]

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF, each of the undersigned has executed this Note as of the
        date
        first above written.

      

      

      
        	 	
                HURON
                  CONSULTING GROUP INC.,
                  a

              
	 	
                Delaware
                  corporation

              
	 	 
	 	 
	 	
                By:

              	
                /s/
                  Gary E. Holdren

              
	 	
                Name:

              	
                Gary
                  E. Holdren

              
	 	
                Title:

              	
                Chairman
                  and Chief Executive Officer

              

      

      

      

      
        	 	
                HURON
                  CONSULTING SERVICES LLC,
                  a

              
	 	
                Delaware
                  limited liability company f/k/a 

              
	 	
                Huron
                  Consulting Group LLC

              
	 	 
	 	 
	 	
                By:

              	
                /s/
                  Gary E. Holdren

              
	 	
                Name:

              	
                Gary
                  E. Holdren

              
	 	
                Title:

              	
                Chairman
                  and Chief Executive Officer

              

      

      

      

      
        	 	
                SPELTZ
                  & WEIS LLC

              
	 	
                By:

              	
                Huron
                  Consulting Group Inc., its manager

              
	 	 
	 	 
	 	
                By:

              	
                /s/
                  Gary E. Holdren

              
	 	
                Name:

              	
                Gary
                  E. Holdren

              
	 	
                Title:

              	
                Chairman
                  and Chief Executive Officer

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