Document:

Exhibit 4.23

 

	
   

  	
  

  

 

4
April 2001

 

BY FACSIMILE AND POST

 

GeoLogistics
Limited

Royal Court

81 Tweedy Road

Bromley

Kent BR1 1TW

 

Facsimile no.      020 8626 6855

 

Dear
Sirs

 

We
refer to:

 

(A)         
the facility agreement dated 31
March 2000 between GeoLogistics Limited (the “Company”) and ourselves (as supplemented and amended from time
to time, the “Facility Agreement”);

 

(B)          
the Guarantee and Indemnity dated 31
March 2000 between GeoLogistics Corporation (the “Guarantor”), a Delaware corporation, and
ourselves (the “Guarantee”); and

 

(C)          
the third amendment
to loan and security agreement dated as of 3 April 2001 (the “US Amendment Agreement”) between Congress
as Lender and Berkins Worldwide Solutions, Inc and others as Borrowers (amongst
other things) making certain amendments to the Loan Agreement.

 

Save
as otherwise defined in this letter, terms defined in the Facility Agreement
have the same meaning when used in this letter.

 

We
write to confirm the agreement reached between us that, subject to the terms of
this letter, on and from the Effective Date (as defined below) the matters and
circumstances waived as Events of Default (as defined in the Loan Agreement) by
Congress pursuant to Sections 2(c) and 2(d) of the US Amendment Agreement shall
also (subject to the proviso to Section 2(c) of the US Amendment
Agreement) be deemed to be waived as Events of Default under the Facility
Agreement.

 

The
Effective Date shall be the date on which we have received a copy of this
letter countersigned on behalf of the Company and the Guarantor.

 

Save
as set out above, nothing in this letter shall be deemed to be an amendment to
the terms of any Finance Document or a waiver or consent by Burdale to any
breach or potential breach (present or future) of any provision of the Finance
Documents or any waiver of a Default or Event of Default (howsoever described).

 

	
   

  	
  53
  Queen Anne Street, London W1G 9HP

  
	
   

  	
  t.
  020 7935 1115 f. 020 7486 3513 w. www.burdale.co.uk

  
	
   

  	
  Offices
  also in Manchester and Birmingham

  
	
   

  	
  Reg.
  No.2656007 Incorporated in England and Wales

  
	
   

  	
   

  
	
   

  	
  affiliated
  to CONGRESS FINANCIAL CORPORATION, A FIRST UNION company

  

 

 

This
letter is a Finance Document and shall be governed by English law.

 

	
  Yours faithfully

  
	
   

  
	
   

  
	
  /s/ [ILLEGIBLE]

  	
   

  	
   

  
	
  For and on behalf of

  
	
  BURDALE
  FINANCIAL LIMITED

  
	
  Accepted and agreed:

  
	
   

  
	
  GEOLOGISTICS
  LIMITED

  
	
   

  
	
  By:

  	
  /s/ George Papageorghiou

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

We
hereby agree (with such agreement taking effect as a deed) that the guarantee
and indemnity given by us remain in full force and effect and extend to
guarantee the obligations of the Company to you under the Finance Documents
notwithstanding the waiver contained in this letter.

 

	
  Executed as a deed by

  
	
  GEOLOGISTICS
  CORPORATION

  
	
   

  
	
  By:

  	
  /s/ R Jackson

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
  R Jackson

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  VP & General
  Counsel

  	
   

  
	
   

  	
   

  	
   

  	
   

  
					

 

 

2Exhibit 4.24

 

	
   

  	
  

  

 

9 April 2001

 

BY FACSIMILE AND POST

 

GeoLogistics Limited

Royal Court

81 Tweedy Road

Bromley

Kent

BR1 1TW

 

	
  Facsimile no:

  	
  020 8626 6855

  
	
  For the attention of:

  	
  George Papageorghiou

  

 

Dear Sirs

 

We refer to the facility
agreement dated 31 March 2000 between yourself as
company and ourselves (as supplemented and amended from time to time, the “Facility Agreement”).

 

Terms defined in the
Facility Agreement have the same meaning when used in this letter.

 

We write to confirm the
agreement reached between us that, subject to the terms of this letter, on and
from the Effective Date (as defined below), Clause 6.5(b) shall be amended by
deleting the reference to “1%” and replacing it with a reference to “0.5%”.

 

The Effective Date shall
be the date which is the later of (i) the date on which we have received a copy
of this letter countersigned on behalf of the Company and the Guarantor and (ii)
the date on which the Amendment (as defined in the the third amendment to loan
and security agreement (the “US Amendment Agreement”)
executed or to be executed between Congress as Lender and Bekins Worldwide
Solutions, Inc and others as Borrowers) becomes effective in accordance with Section 3
of the US Amendment Agreement.

 

Save as set out above,
nothing in this letter shall be deemed to be an amendment to the terms of any
Finance Document or a waiver or consent by Burdale to any breach or potential
breach (present or future) of any provision of the Finance Documents or any
waiver of a Default (howsoever described).

 

This letter may be
executed in any number of counterparts and all of such counterparts taken
together shall be deemed to constitute one and the same instrument.

 

This letter is a Finance
Document and shall be governed by English law.

 

	
  Yours faithfully

  
	
  BURDALE FINANCIAL LIMITED

  
	
   

  
	
  /s/ [ILLEGIBLE]

  	
   

  
	
  Director

  

 

	
   

  	
  53 Queen Anne Street, London WIC 9HP

  
	
   

  	
  t. 020 7935 1115 f. 020 7486 3513 w. www.burdale.co.uk

  
	
   

  	
  Offices also in Manchester and Birmingham

  
	
   

  	
  Reg. No.2656007 Incorporated in England and Wales

  
	
   

  	
   

  
	
   

  	
  affiliated to CONGRESS FINANCIAL CORPORATION, A FIRST UNION
  company

  

 

 

Acknowledged
and agreed:

 

	
  GEOLOGISTICS
  LIMITED

  
	
   

  
	
  By:

  	
  /s/ George Papageorghiou

  	
   

  

 

As
Guarantor under the Guarantee and Indemnity (the “Guarantee”)
dated 31 March 2000 between ourselves and Burdale we hereby agree (with
such agreement taking effect as a deed) that the guarantee given by us in the
Guarantee remains in full force and effect and extends to guarantee the
obligations of the Company to Burdale under the Finance Documents as amended as
described above.

 

	
  Executed as a deed by

  
	
  GEOLOGISTICS CORPORATION

  
	
   

  
	
  By:

  	
  /s/ R Jackson

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
  R Jackson

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  VP & General
  Counsel

  	
   

  
				

 

2Exhibit 4.25

 

	
   

  	
  

  

 

28
June 2001

 

BY
FACSIMILE AND POST

 

GeoLogistics
Limited

Royal
Court

81
Tweedy Road

Bromley

Kent

BR1
1TW

 

	
  Facsimile
  no:

  	
  020
  8626 6855

  
	
  For
  the attention of:

  	
  George
  Papageorghiou

  

 

Dear
Sirs

 

We
refer to the facility agreement dated 31 March 2000 between yourself as Company and ourselves (as supplemented and
amended from time to time, the “Facility Agreement”).

 

Terms
defined in the Facility Agreement have the same meaning when used in this
letter.

 

We
write to confirm the agreement reached between us that subject to receipt by us
of:

 

(a)                                  a copy of this letter countersigned on behalf
of the Company and the Guarantor;

 

(b)                                 evidence satisfactory to us that a corresponding
amendment has been or will (contemporaneously with the amendment set out below
taking effect) be made to the definition of “Maximum
Credit” in the Loan Agreement,

 

the definition of “Facility Limit”
in Clause 1.1 of the Facility Agreement shall be amended by replacing the words
“£15,000,000 or $25,000,000” with the words “£12,529,470 or $21,500,000”.

 

By
countersigning and returning a copy of this letter, each of the Company and the
Guarantor shall be deemed to represent to Burdale that, save as specified
below, each is in compliance with all of its obligations under the Finance Documents
and that there are no outstanding Defaults or Events of Default. It is
acknowledged and agreed that the financial statements of the Company and its
Subsidiaries have not been delivered to  Burdale in accordance with the
terms of the Facility Agreement and that such financial statements are to be
delivered to Burdale on or before 15 July 2001.

 

Save
as set out above, nothing in this letter shall be deemed to be an amendment to
the terms of any Finance Document or a waiver or consent by Burdale to any
breach or potential breach (present or future) of any provision of the Finance
Documents or any waiver of a Default (howsoever described).

 

This
letter may be executed in any number of counterparts and all of such
counterparts taken together shall be deemed to constitute one and the same
instrument.

 

	
   

  	
  53 Queen Anne Street, London WIC 9HP

  
	
   

  	
  t. 020 7935 1115 f. 020 7486 3513 w. www.burdale.co.uk

  
	
   

  	
  Offices also in Manchester and Birmingham

  
	
   

  	
  Reg. No. 2656009 Incorporated in England and Wales

  
	
   

  	
   

  
	
   

  	
  affiliated to CONGRESS FINANCIAL CORPORATION, A FIRST UNION
  company

  

 

 

This letter is Finance
Document and shall be governed by English law.

 

	
  Yours faithfully

  
	
  BURDALE FINANCIAL LIMITED

  
	
   

  
	
  /s/ [ILLEGIBLE]

  	
   

  
	
  Director

  
	
   

  
	
  Acknowledged and
  agreed:

  
	
   

  
	
  GEOLOGISTICS LIMITED

  
	
   

  
	
  By:

  	
  /s/ G. Papageorghiou

  	
   

  
			

 

As Guarantor under the
Guarantee and Indemnity (the “Guarantee”)
dated 31 March 2000 between ourselves and Burdale we hereby:

 

(a)                                  agree
(with such agreement taking effect as a deed) that the guarantee given by us in
the Guarantee remains in full force and effect and extends to guarantee the
obligations of the Company to Burdale under the Finance Documents as amended as
described above; and

 

(b)                                 confirm that the representation set out above and deemed to
be given by us on the signing and returning of this letter is correct.

 

	
  Executed as a deed by

  
	
  GEOLOGISTICS CORPORATION

  
	
   

  
	
  By:

  	
  /s/ R Jackson

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
  R Jackson

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  VP & General
  Counsel

  	
   

  
					

 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}]]