Document:

Exhibit 10.3 Second Amendment to Credit Agreement

		

			Exhibit 10.03

		

		

			 

		

		
			SECOND AMENDMENT TO CREDIT AGREEMENT
		

		
			 
		

		
			THIS SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of May 11, 2012, is entered into by and among CARDTRONICS, INC., a Delaware corporation (the “Borrower”),  each of the Guarantors party hereto (the “Guarantors”), each of the Lenders party hereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (the “Agent”).
		

		
			 
		

		
			PRELIMINARY STATEMENT
		

		
			 
		

		
			WHEREAS, the Borrower, the Guarantors, the Lenders and the Agent entered into that certain Credit Agreement dated as of July 15, 2010 (as hereby amended and as from time to time further amended, modified, supplemented, restated or amended and restated, the “Credit Agreement”), pursuant to which the Lenders agreed to make available to the Borrower a revolving credit facility; and 
		

		
			 
		

		
			WHEREAS, the Borrower has now asked the Agent and the Lenders to amend certain provisions of the Credit Agreement; and
		

		
			 
		

		
			WHEREAS, the Agent and Lenders are willing to do so subject to the terms and conditions set forth herein, provided that the Borrower and Guarantors ratify and confirm all of their respective obligations under the Credit Agreement and the Loan Documents;
		

		
			 
		
NOW, THEREFORE, in consideration of the premises and further valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
		
			 
		

		
			1.  Defined Terms.  Unless otherwise defined herein, capitalized terms used herein have the meanings assigned to them in the Credit Agreement.
		

		
			 
		

		
			2.  Amendment to Section 1.01.  Section 1.01 of the Credit Agreement is hereby amended to restate the definition of “Fixed Charge Coverage Ratio” in its entirety as follows:
		

		
			 
		

		
			“Fixed Charge Coverage Ratio”  means, as of the end of each fiscal quarter, the ratio of (a) the sum of (i) Consolidated Adjusted Pro Forma EBITDA for the four quarter period then ended, minus (ii) Capital Expenditures of the Borrower and the Restricted Subsidiaries for such period, minus (iii) dividends and distributions in respect of its Equity Interests paid by the Borrower and the Restricted Subsidiaries during such period (excluding any such dividends and distributions paid to an Obligor or Restricted Subsidiary), minus (iv) consideration paid by the Borrower for repurchase or redemption of its Equity Interests held by its employees, directors and officers during such period in excess of $10,000,000, minus (v) consideration paid by the Borrower for repurchase or redemption of its Equity Interests held by other Persons during such period in excess of $10,000,000, minus (vi) cash Taxes paid by the Borrower and the Restricted Subsidiaries during such period, to (b) Cash Interest Expense.
		

		
			 
		

		

		

		 

 

		3.  Amendment to Section 6.07(d)
		

		
			Section 6.07(d) of the Credit Agreement is hereby amended as follows:
		

		
			 
		

		
			(d)      redemptions of capital stock of employees, directors or officers of the Borrower on the following conditions: (i) if no Revolving Loans or Swingline Loans are outstanding at the time of such redemption, the amount of such redemption shall not be limited, so long as, if the amount of such redemption, when combined with all other redemptions made under this clause (d) in the same calendar year, exceeds $10,000,000, the Borrower demonstrates pro forma compliance with Section 6.18; and (ii) if Revolving Loans or Swingline Loans are outstanding at the time of such redemption, the amount of such redemption, when combined with all other redemptions made under this clause (d) in the same calendar year, shall not exceed $10,000,000; and
		

		
			 
		
4.Conditions Precedent
		
			The effectiveness of this Amendment is subject to satisfaction of the following conditions precedent:
		

		
			 
		

			
			
				 (a)
			

			
			
			no Default or Event of Default shall exist; and

		
			 
		

			
			
				 (b)
			

			
			
			the Agent shall have received counterparts of this Amendment, duly executed by the Borrower, the Guarantors and the Majority Lenders.

		
			 
		
5.Ratification
		
			Each of the Borrower and Guarantors hereby ratifies all of its Obligations under the Credit Agreement and each of the Loan Documents to which it is a party, and agrees and acknowledges that the Credit Agreement and each of the Loan Documents to which it is a party are and shall continue to be in full force and effect as amended and modified by this Amendment.  Nothing in this Amendment extinguishes, novates or releases any right, claim, lien, security interest or entitlement of any of the Lenders or the Administrative Agent created by or contained in any of such documents nor are the Borrower nor Guarantors released from any covenant, warranty or obligation created by or contained herein or therein.
		

		
			 
		
6.Representations and Warranties
		
			Each of the Borrower and Guarantors hereby represents and warrants to the Lenders and the Administrative Agent that (a) this Amendment has been duly executed and delivered on behalf of each of the Borrower and Guarantors, (b) this Amendment constitutes a valid and legally binding agreement enforceable against each of the Borrower and Guarantors in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law, (c) the representations and warranties contained in the Credit Agreement and the Loan Documents are true and correct on and as of the date hereof in all material respects as though made as of the date hereof, except for such representations and warranties as are by their express terms limited to a specific date, in which case such representations and warranties were true and correct in all material respects as of such specific date, (d) no Default or Event of Default exists under the Credit Agreement or under any Loan Document and (e) the execution, 
		

		 

		

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		delivery and performance of this Amendment has been duly authorized by each of the Borrower and Guarantors.
		

		
			 
		
7.Release and Indemnity
		
			 
		

		
			(a)            The Borrower hereby releases and forever discharges the Agent and each of the Lenders and each affiliate thereof and each of their respective employees, officers, directors, trustees, agents, attorneys, successors, assigns or other representatives from any and all claims, demands, damages, actions, cross-actions, causes of action, costs and expenses (including legal expenses), of any kind or nature whatsoever, whether based on law or equity, which any of said parties has held or may now own or hold, whether known or unknown, for or because of any matter or thing done, omitted or suffered to be done on or before the actual date upon which this Amendment is signed by any of such parties (i) arising directly or indirectly out of the Loan Documents, or any other documents, instruments or any other transactions relating thereto and/or (ii) relating directly or indirectly to all transactions by and between the Borrower or its representatives and the Agent, and each Lender or any of their respective directors, officers, agents, employees, attorneys or other representatives.  Such release, waiver, acquittal and discharge shall and does include, without limitation, any claims of usury, fraud, duress, misrepresentation, lender liability, control, exercise of remedies and all similar items and claims, which may, or could be, asserted by the Borrower including any such caused by the actions or negligence of the indemnified party (other than its gross negligence or willful misconduct).
		

		
			 
		

		
			(b)            The Borrower hereby ratifies the indemnification provisions contained in the Loan Documents, including, without limitation, Section 10.03 of the Credit Agreement, and agrees that this Amendment and losses, claims, damages and expenses related thereto shall be covered by such indemnities. 
		

		
			 
		

		
			(c)            Counterparts
		

		
			This Amendment may be signed in any number of counterparts, which may be delivered in original, facsimile or electronic form each of which shall be construed as an original, but all of which together shall constitute one and the same instrument.
		

		
			 
		

		
			(d)            Governing Law
		

		
			This Amendment shall be construed in accordance with and governed by the Law of the State of Texas without regard to any choice-of-law provisions that would require the application of the  law of another jurisdiction.
		

		

		

		 

		

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			(e)            Final Agreement of the Parties
		

		
			THIS AMENDMENT, THE CREDIT AGREEMENT AND THE LOAN DOCUMENTS REPRESENT 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.
		

		
			 
		

		
			[Signature pages follow]
		

		
			 
		

		
			 
		

		

		

		 

		

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		IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto duly authorized as of the date first above written.
		

		
			 
		

		
			BORROWER:
		

		
			 
		

		
			CARDTRONICS, INC., 
a  Delaware corporation 
		

		
			 
		

		
			 
		

		
			By:      /s/ Todd Ruden      
Todd Ruden
Senior Vice President – Planning & Treasurer
		

		
			 
		

		
			 
		

		
			GUARANTORS:
		

		
			
		

		
			CARDTRONICS USA, INC., 
a  Delaware corporation 
		

		
			 
		

		
			 
		

		
			By:      /s/ Todd Ruden
		

		
			            Todd Ruden
		

		
			            Treasurer
		

		
			 
		

		
			 
		

		
			CARDTRONICS HOLDINGS, LLC, 
a Delaware limited liability company
		

		
			 
		

		
			 
		

		
			By:      /s/ Todd Ruden
		

		
			            Todd Ruden
		

		
			            Treasurer 
		

		
			 
		

		
			 
		

		
			ATM NATIONAL, LLC, 
a  Delaware limited liability company 
		

		
			 
		

		
			 
		

		
			By:      /s/ Todd Ruden
		

		
			            Todd Ruden
		

		
			            Treasurer
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Second Amendment to Credit Agreement

		

 

		ADMINISTRATIVE AGENT:
		

		
			 
		

		
			JPMORGAN CHASE BANK, N.A.
		

		
			 
		

		
			 
		

		
			By:      /a/ Anthony A. Eastman
		

		
			            Anthony A. Eastman
		

		
			            Underwriter
		

		
			 
		

		
			
		

		

		

		 

		

			Signature Page to Second Amendment to Credit Agreement

		

 

		LENDER:
		

		
			 
		

		
			BANK OF AMERICA, N.A.

		

		
			 
		

		
			By:      /s/ Gary L. Mingle
		

		
			Name:  Gary L. Mingle
		

		
			Title:            Senior Vice President
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Second Amendment to Credit Agreement

		

 

		LENDER:
		

		
			 
		

		
			WELLS FARGO BANK, N.A.
		

		
			 
		

		
			 
		

		
			By:      /s/ Geri Landa
		

		
			Name:  Geri Landa
		

		
			Title:            Senior Vice President
		

		
			 
		

		
			 
		

		

		

		 

		

			Signature Page to Second Amendment to Credit Agreement

		

 

		LENDER:
		

		
			 
		

		
			CAPITAL ONE, N.A.
		

		
			 
		

		
			 
		

		
			By:      /s/ Yasmin Elkhatib
		

		
			Name:  Yasmin Elkhatib
		

		
			Title:            Vice President
		

		

		

		 

		

			Signature Page to Second Amendment to Credit Agreement

		

 

		LENDER:
		

		
			 
		

		
			BRANCH BANKING AND TRUST COMPANY
		

		
			 
		

		
			 
		

		
			By:      /s/ Matt McCain
		

		
			Name:  Matt McCain
		

		
			Title:            Senior Vice President
		

		
			 
		

		
			 
		

		 

		

			Signature Page to Second Amendment to Credit AgreementExhibit 10.18 - Cardtronics Fifth Amendment to Contract Cash Solutions Agreement

		

			                        Exhibit 10.18

		

		

			 

		

		

			 

		

		
			
FIFTH AMENDMENT TO CONTRACT CASH SOLUTIONS AGREEMENT

		

		
			THIS FIFTH AMENDMENT TO CONTRACT CASH SOLUTIONS AGREEMENT (this "Amendment"), dated and effective as of March 10, 2011, is made and entered into among CARDTRONICS USA, INC. and CARDTRONICS, INC. (the "Clients") and WELLS FARGO BANK, NATIONAL ASSOCIATION ("Wells Fargo").
		

		
			R E C I T A L S:
		

		
			A.            Clients and Wells Fargo entered into a Contract Cash Solutions Agreement, dated as of July 20, 2007 (as modified or amended from time to time, the "Agreement").
		

		
			B.            Pursuant to the Agreement, Wells Fargo has agreed to provide to Clients Cash, not to exceed the Maximum Available Amount, for use in the Covered Machines.
		

		
			C.            Clients have requested that Wells Fargo increase the Maximum Available Amount to $600,000,000 and, subject to and on the terms and conditions of this Amendment, Wells Fargo is willing to so do.
		

		
			NOW, THEREFORE, in consideration of the foregoing recitals and other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows, intending to be legally bound:
		

			
			
				 ARTICLE I
			

			
			
			

Definitions

		
			Capitalized terms used in this Amendment, to the extent not otherwise defined herein, shall have the meanings assigned to such terms in the Agreement. 
		

			
			
				 ARTICLE II
			

			
			
			

Amendment

			
			
				 Section 2.1
			

			
			
			Maximum Available Amount.  Section II.C. is amended and restated in its entirety to read as follows: 

		
			"Maximum Amount of Cash to be Supplied.  Notwithstanding anything in this Agreement to the contrary, the aggregate total of Cash to be provided by Wells Fargo under this Agreement shall at no time during the term hereof exceed $600,000,000, which amount includes the sum of (x) all Cash with Armored Carriers, (y) Cash in Covered Machines, and (z) all 
		

		 

			

					

						 

					

					

						 

					

					

						 

				

		

			 

		

		

			 

		

 

		payments owed by Servicers, including any amount to be reimbursed by way of credit to the Settlement Accounts in immediately available funds, net of all adjustments, chargebacks, representations and other corrections to all transactions under the Servicing Agreements (the "Maximum Available Amount").  At no time other than between January 15 and March 31 of each year ("Tax Season") shall Cash inside any Covered Machine exceed $160,000.  During Tax Season, at no time shall Cash inside any Covered Machine exceed $300,000."
		

			
			
				 Section 2.2
			

			
			
			

Conditions Precedent

		
			The effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent: 
		

			
			
				 (a)
			

			
			
			Clients and Wells Fargo shall have executed and delivered this Amendment; and

			
			
				 (b)
			

			
			
			Clients shall have provided to Wells Fargo such other and further documents and instruments, if any, as Wells Fargo may reasonably request.

			
			
				 (c)
			

			
			
			

Representations and Warranties; Acknowledgments

		
			Each of the parties represents and warrants to the others that (i) the execution, delivery and performance of this Amendment has been duly authorized by all requisite action on its part; and (ii) it is in compliance with the terms and agreement contained in the Agreement applicable to it. 
		

			
			
				 (d)
			

			
			
			

General Provisions

			
			
				 Section 2.3
			

			
			
			Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.

			
			
				 Section 2.4
			

			
			
			Facsimile Signatures.  Delivery by fax of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment.

			
			
				 Section 2.5
			

			
			
			Section Headings.  The section headings in this Amendment are for purposes of reference only and shall not limit or effect any of the terms hereof.

		 

		

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				 Section 2.6
			

			
			
			Costs and Expenses.  Clients, jointly and severally, agree to reimburse Wells Fargo on demand for all costs and expenses incurred by Wells Fargo in connection with preparation, negotiation and delivery of this Amendment, including, without limitation, all the reasonable fees and disbursements of Wells Fargo's legal counsel.

			
			
				 Section 2.7
			

			
			
			Successors and Assigns.  This Amendment is binding upon and shall inure to the benefit of parties hereto and their respective successors and assigns, subject, however, to the requirements of Section XIV.D. of the Agreement.

			
			
				 Section 2.8
			

			
			
			Governing Law.  The Governing Law shall govern this Amendment and the interpretation thereof.

			
			
				 Section 2.9
			

			
			
			Entire Agreement; Modification.  This Amendment constitutes the entire agreement between Wells Fargo and Clients relating to the subject matter hereof and may not be changed orally, but only by written instrument signed by both parties.  There are no restrictions, promises, warranties, covenants, or undertakings relating to the subject matter of this Amendment other than those expressly set forth or referred-to herein.  Nothing in this Amendment alters or impairs the Agreement except for the amendments specifically provided herein.

		
			[Balance of Page Intentionally Left Blank.   Signature Page Follows]
		

		

		

		 

		

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		IN WITNESS WHEREOF, each of the Parties has caused this Amendment to be executed on its behalf by the duly authorized officers as of the date and year first written above.
		

			
					
						CARDTRONICS USA, INC.

By: /s/ Chris Brewster                                                
            Name: Chris Brewster
            Title: Chief Financial Officer

					
					
						WELLS FARGO BANK , NATIONAL ASSOCIATION

By: /s/ John Kallina                                                
            John Kallina
            Vice President

				

		
			 
		

			
					
						CARDTRONICS, INC.

By:
            /s/ Chris Brewster                                    
            Name: Chris Brewster
            Title: Chief Financial Officer

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

		 

		

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