Document:

creditandtermloan.htm

    
      Exhibit 10.1

    

    Second
Amendment To Revolving

    Credit
and Term Loan Agreement

    

    This
SECOND AMENDMENT TO REVOLVING CREDIT AND TERM LOAN AGREEMENT (this “Second
Amendment”) is entered into as of February 28, 2008, by and
among:  Centerline Holding Company and Centerline Capital Group Inc.
(collectively, the “Borrowers”); those Persons listed as Guarantors on Schedule 1 hereto
(each, a “Guarantor,” and, collectively, the “Guarantors”); and those Lenders
constituting the Required Lenders, each as set forth on a counterpart signature
page hereto, substantially in the form of Schedule 2 hereto
(the “Required Lenders”).

     

    RECITALS

     

    Reference
is made to the following facts that constitute the background of this Second
Amendment:

     

    A.           The
parties hereto, among others, have entered into that certain Revolving Credit
and Term Loan Agreement, dated as of December 27, 2007 (as amended, restated,
supplemented or otherwise modified from time to time, the “Loan
Agreement”).  Capitalized terms used herein and not otherwise defined
herein shall have the same meanings herein as ascribed to them in the Loan
Agreement;

     

    B.           The
Borrowers, the Guarantors and the Required Lenders desire to amend Section 9.23
of the Loan Agreement to correct a scrivener’s error and to conform to the
understanding of the parties with respect to such provision.

     

    NOW,
THEREFORE, in consideration of the foregoing recitals and of the
representations, warranties, covenants and conditions set forth herein and in
the Loan Agreement, and for other valuable consideration the receipt and
adequacy of which is hereby acknowledged, the parties hereto agree as
follows:

     

    Section
1.              
The Loan Agreement is hereby amended as follows:

     

    (a)           
Section 9.23 is hereby deleted and replaced in its entirety with the
following:

     

    Unfunded
Escrow.  Until such time as the Unfunded Escrow is reduced to
zero Dollars, portions of the Unfunded Escrow shall be funded (thus permanently
reducing the Unfunded Escrow) from time to time from (a) Loans made available
due to any incremental increase in the Revolving Credit Limit from and after the
date hereof in accordance with the definition of such term, (b) Loans made
available due to any incremental increase in the Term Loan Limit from and after
the date hereof in accordance with the definition of such term, (c) any funds
that would have otherwise been released from the Bond Stabilization Escrow
Account that are required to be used to fund the Unfunded Escrow in accordance
with the terms of the Stabilization Escrow Agreement, and (d)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    interest
accrued and payable from time to time on the then outstanding principal balance
in the Bond Stabilization Escrow Account.

     

    Section
2.             
Representations and
Warranties.  The Borrowers and Guarantors, jointly and
severally, represent and warrant to the Lenders, the Swingline Lender, the
Issuing Bank and the Administrative Agent as of the date of this Second
Amendment that: (a) no Default is in existence from and after, or will result
from, the execution and delivery of this Second Amendment, or the consummation
of any transactions contemplated hereby; (b) each of the representations and
warranties of the Borrowers and the Guarantors in the Loan Agreement and the
other Loan Documents is true and correct in all material respects on the
effective date of this Second Amendment (except for representations and
warranties limited as to time or with respect to a specific event, which
representations and warranties shall continue to be limited to such time or
event); and (c) this Second Amendment and the Loan Agreement are legal, valid
and binding agreements of the Borrowers and the Guarantors and are enforceable
against them in accordance with their terms.

     

    Section
3.             
Ratification.  Except
as hereby amended, the Loan Agreement, all other Loan Documents and each
provision thereof are hereby ratified and confirmed in every respect and shall
continue in full force and effect, and this Second Amendment shall not be, and
shall not be deemed to be, a waiver of any Default or of any covenant, term or
provision of the Loan Agreement or the other Loan Documents.  In
furtherance of the foregoing ratification, by executing this Second Amendment in
the spaces provided below, each of the Guarantors, on a joint and several basis,
hereby absolutely and unconditionally (a) reaffirms its obligations under the
Guaranties, and (b) absolutely and unconditionally consents to (i) the execution
and delivery by the Borrowers of this Second Amendment, (ii) the continued
implementation and consummation of arrangements and transactions contemplated by
the Loan Agreement (including, without limitation, as amended or waived hereby)
and the other Loan Documents, and (iii) the performance and observance by each
Borrower and each Guarantor of all of its respective agreements, covenants,
duties and obligations under the Loan Agreement (including, without limitation,
as amended hereby) and the other Loan Documents.

     

    Section
4.              Conditions
Precedent.  The agreements set forth in this Second Amendment
are conditional and this Second Amendment shall not be effective until receipt
by the Administrative Agent of a fully-executed counterpart of this Second
Amendment.

     

    Section
5.              
Counterparts.  This
Second Amendment may be executed and delivered in any number of counterparts
with the same effect as if the signatures on each counterpart were upon the same
instrument.  Any counterpart delivered by facsimile or by other
electronic method of transmission shall be deemed an original signature
thereto.

     

    Section
6.              
Second
Amendment as
Loan Document.  Each party hereto agrees and acknowledges that
this Second Amendment constitutes a “Loan Document” under and as defined in the
Loan Agreement.

     

    Section
7.               GOVERNING
LAW.  THIS FIRST AMENDMENT SHALL BE DEEMED TO CONSTITUTE A
CONTRACT MADE UNDER THE LAWS OF THE STATE

     

    
      
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     OF
NEW YORK, INCLUDING ARTICLE 5 OF THE UCC, AND SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION
5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW, BUT OTHERWISE WITHOUT REGARD
TO ITS CONFLICTS OF LAW RULES).

     

    Section
8.               Successors and
Assigns.  This Second Amendment shall be binding upon each of
the Borrowers, the Guarantors, the Lenders, the Swingline Lender, the Issuing
Bank, the Administrative Agent, the Agents and their respective successors and
assigns, and shall inure to the benefit of each such Person and their permitted
successors and assigns.

     

    Section
9.               Headings.  Section
headings in this Second Amendment are included herein for convenience of
reference only and shall not constitute a part of this Second Amendment for any
other purpose.

     

    Section
10.            Expenses.  Each
Borrower jointly and severally agrees to promptly reimburse the Administrative
Agent for all expenses, including, without limitation, reasonable fees and
expenses of outside legal counsel, such Person has heretofore or hereafter
incurred or incurs in connection with the preparation, negotiation and execution
of this Second Amendment and all other instruments, documents and agreements
executed and delivered in connection with this Second Amendment.

     

    Section
11.             Integration.  This
Second Amendment contains the entire understanding of the parties hereto and
with any other Lenders and parties to the Loan Agreement with regard to the
subject matter contained herein.  This Second Amendment supersedes all
prior or contemporaneous negotiations, promises, covenants, agreements and
representations of every nature whatsoever with respect to the matters referred
to in this Second Amendment, all of which have become merged and finally
integrated into this Second Amendment.  Each of the parties hereto
understands that in the event of any subsequent litigation, controversy or
dispute concerning any of the terms, conditions or provisions of this Second
Amendment, no party shall be entitled to offer or introduce into evidence any
oral promises or oral agreements between the parties relating to the subject
matter of this Second Amendment not included or referred to herein and not
reflected by a writing included or referred to herein.

     

    Section
12.             Jury Trial
Waiver.  THE BORROWERS, GUARANTORS, ADMINISTRATIVE AGENT AND
LENDERS BY ACCEPTANCE OF THIS FIRST AMENDMENT MUTUALLY HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN RESPECT OF
ANY LITIGATION BASED HEREON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
FIRST AMENDMENT, THE LOAN AGREEMENT, OR ANY OTHER LOAN DOCUMENTS CONTEMPLATED TO
BE EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF
DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY,
INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT, COURSE OF DEALINGS,
STATEMENTS OR ACTIONS OF ANY AGENT OR ANY LENDER RELATING TO THE ADMINISTRATION
OF THE LOAN OR ENFORCEMENT OF THE LOAN DOCUMENTS, ARISING OUT OF TORT, STRICT
LIABILITY, CONTRACT OR ANY OTHER LAW, AND

     

    
      
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    AGREE
THAT NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN
WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED.

     

    

     

    [Remainder of page intentionally left
blank; signature pages follow]

     

     

     

     

     

     

     

    
      
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    IN
WITNESS WHEREOF, the parties have caused this Second Amendment to be duly
executed by their duly authorized officers or representatives, all as of the
date first above written.

     

    
      
        	
                BORROWERS:     
      

              	CENTERLINE
      HOLDING COMPANY  	 
      
	 
      	 
      	 
      
	 
      	
                By:

              	/s/
      Robert L. Levy  	 
      
	 
      	 
      	
                Name:

              	Robert
      L. Levy  	 
      
	 
      	 
      	
                Title:

              	Chief
      Financial Officer  	 
      

      

    

     

     

    
      	
               

            	CENTERLINE
      CAPITAL GROUP INC.  	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Robert L. Levy  	 
      
	 
      	 
      	
              Name:

            	Robert
      L. Levy  	 
      
	 
      	 
      	
              Title:

            	Chief
      Financial Officer  	 
      

    

    

     

     

     

     

     

     

     

    (Signatures
continued on next page)

     

     

     

     

    
      
        
          S-Borrowers

          
                    Signature page to
Second Amendment to Revolving Credit and Term Loan
Agreement

          

        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    
      	
              GUARANTORS:     
      

            	CENTERLINE
      CAPITAL COMPANY LLC  	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Robert L. Levy  	 
      
	 
      	 
      	
              Name:

            	Robert
      L. Levy  	 
      
	 
      	 
      	
              Title:

            	Chief
      Financial Officer  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      AFFORDABLE HOUSING ADVISORS LLC  	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Robert L. Levy  	 
      
	 
      	 
      	
              Name:

            	Robert
      L. Levy  	 
      
	 
      	 
      	
              Title:

            	Vice
      President  	 
      

    

     

     

    
      	
               

            	CENTERLINE/AC
      INVESTORS LLC  	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Robert L. Levy  	 
      
	 
      	 
      	
              Name:

            	Robert
      L. Levy  	 
      
	 
      	 
      	
              Title:

            	Senior
      Vice President  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      HOLDING TRUST  	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Robert L. Levy  	 
      
	 
      	 
      	
              Name:

            	Robert
      L. Levy  	 
      
	 
      	 
      	
              Title:

            	Chief
      Financial Officer  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      INVESTORS I LLC  	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Robert L. Levy  	 
      
	 
      	 
      	
              Name:

            	Robert
      L. Levy  	 
      
	 
      	 
      	
              Title:

            	Vice
      President  	 
      

    

     

    (Signatures
continued on next page)

     

     

     

     

    
      
        S-Guarantors

                  Signature page to
Second Amendment to Revolving Credit and Term Loan
Agreement

        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              GUARANTORS (CONT.):     
      

            	CENTERLINE
      REIT INC.  	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Bryan
      Carr  	 
      
	 
      	 
      	
              Name:

            	Bryan
      Carr  	 
      
	 
      	 
      	
              Title:

            	Chief
      Financial Officer  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      SERVICING INC. 	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Bryan
      Carr  	 
      
	 
      	 
      	
              Name:

            	Bryan
      Carr  	 
      
	 
      	 
      	
              Title:

            	Chief
      Financial Officer  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      FINANCE CORPORATION 	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Bryan
      Carr  	 
      
	 
      	 
      	
              Name:

            	Bryan
      Carr  	 
      
	 
      	 
      	
              Title:

            	Chief
      Financial Officer  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      INVESTOR LP LLC 	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Justin
      Ginsberg  	 
      
	 
      	 
      	
              Name:

            	Justin
      Ginsberg  	 
      
	 
      	 
      	
              Title:

            	Vice
      President  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      INVESTOR LP II LLC 	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Justin
      Ginsberg  	 
      
	 
      	 
      	
              Name:

            	Justin
      Ginsberg  	 
      
	 
      	 
      	
              Title:

            	Vice
      President  	 
      

    

     

     

    
      	
               

            	CENTERLINE
      CREDIT MANAGEMENT LLC 	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Frances
      Melville  	 
      
	 
      	 
      	
              Name:

            	Frances
      Melville  	 
      
	 
      	 
      	
              Title:

            	Senior
      Vice President  	 
      

    

     

     

    
      	
               

            	CM
      INVESTOR LLC 	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Robert
      L. Levy  	 
      
	 
      	 
      	
              Name:

            	Robert
      L. Levy  	 
      
	 
      	 
      	
              Title:

            	Vice
      President  	 
      

    

     

     

    (Signatures
continued on next page)

     

     

    
      
        
          S-Guarantors

                    Signature page to
Second Amendment to Revolving Credit and Term Loan
Agreement

          

        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

     

    Schedule
1

    

    Guarantors

     

    
      	1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12. 	
              Centerline
      Investor LP,

              Centerline
      Investor LP II,

              CCC,

              CAHA,
Centerline/AC,

              Holding
      Trust,

              Centerline
      Investors,

              Centerline
      REIT Inc.,

              Centerline
      Servicing Inc.,
Centerline
      Finance Corporation,

              Credit
      Management, and

              CM
      Investor LLC.

            

    

     

     

     

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Schedule
2

    

    Form of Signature Page for
Lenders included in Required Lenders for purposes of approving SECOND AMENDMENT
TO REVOLVING CREDIT AND TERM LOAN AGREEMENT:

    

    

    The
undersigned hereby evidences its agreement to the terms of the SECOND AMENDMENT
TO REVOLVING CREDIT AND TERM LOAN AGREEMENT, and the consummation of the
transactions contemplated thereby, amending that certain Revolving Credit and
Term Loan Agreement dated as of December 27, 2007 by and among Centerline
Holding Company and Centerline Capital Group Inc. as the Borrowers, the
Guarantors described therein, the Lenders described therein, and Bank of
America, N.A., as Administrative Agent, Swingline Lender and Issuing Bank, as
such agreement is amended, restated, supplemented or otherwise modified from
time to time.

    

     

    
      
        	 
      	CITICORP USA, INC. 
    	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                By:

              	/s/
      Maria McKeon  	 
      
	 
      	 
      	
                Name:

              	Maria
      McKeon  	 
      
	 
      	 
      	
                Title:

              	Vice
      President  	 
      

      

    

    
 

    

    Representing
34.25% of all Term Loans outstanding, all Revolving Exposure, unused Revolving
Loan Commitments and unused Term Loan Commitments

    

    

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      

      Schedule
2

      

      Form of Signature Page for
Lenders included in Required Lenders for purposes of approving SECOND AMENDMENT
TO REVOLVING CREDIT AND TERM LOAN AGREEMENT:

      

      

      The
undersigned hereby evidences its agreement to the terms of the SECOND AMENDMENT
TO REVOLVING CREDIT AND TERM LOAN AGREEMENT, and the consummation of the
transactions contemplated thereby, amending that certain Revolving Credit and
Term Loan Agreement dated as of December 27, 2007 by and among Centerline
Holding Company and Centerline Capital Group Inc. as the Borrowers, the
Guarantors described therein, the Lenders described therein, and Bank of
America, N.A., as Administrative Agent, Swingline Lender and Issuing Bank, as
such agreement is amended, restated, supplemented or otherwise modified from
time to time.

      

       

      
        
          	 
      	BANK
      OF AMERICA, N.A.  	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                  By:

                	/s/ John
      F. Simon 	 
      
	 
      	 
      	
                  Name:

                	John
      F. Simon  	 
      
	 
      	 
      	
                  Title:

                	Senior
      Vice President  	 
      

        

      

      
 

      

      Representing
41.09589% of all Term Loans outstanding, all Revolving Exposure, unused
Revolving Loan Commitments and unused Term Loan Commitments

      

      

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
       

      Schedule
2

      

      Form of Signature Page for
Lenders included in Required Lenders for purposes of approving SECOND AMENDMENT
TO REVOLVING CREDIT AND TERM LOAN AGREEMENT:

      

      

      The
undersigned hereby evidences its agreement to the terms of the SECOND AMENDMENT
TO REVOLVING CREDIT AND TERM LOAN AGREEMENT, and the consummation of the
transactions contemplated thereby, amending that certain Revolving Credit and
Term Loan Agreement dated as of December 27, 2007 by and among Centerline
Holding Company and Centerline Capital Group Inc. as the Borrowers, the
Guarantors described therein, the Lenders described therein, and Bank of
America, N.A., as Administrative Agent, Swingline Lender and Issuing Bank, as
such agreement is amended, restated, supplemented or otherwise modified from
time to time.

      

       

      
        
          	 
      	MLBUSA
      COMMUNITY DEVELOPMENT CORP.  	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                  By:

                	/s/ Michael
      A. Solomon	 
      
	 
      	 
      	
                  Name:

                	Michael
      A. Solomon	 
      
	 
      	 
      	
                  Title:

                	First Vice
      President  	 
      

        

      

      
 

      

      Representing
6.85% of all Term Loans outstanding, all Revolving Exposure, unused Revolving
Loan Commitments and unused Term Loan Commitmentsex10-1.htm

     

    Exhibit 10.1

    FIFTH
AMENDMENT TO CREDIT AGREEMENT

    

    THIS FIFTH AMENDMENT TO CREDIT
AGREEMENT (this “Amendment”), dated as
of March 4, 2008, is by and among ENTERTAINMENT DISTRIBUTION COMPANY,
LLC, a Delaware limited liability company (the “Borrower”), those
Domestic Subsidiaries of the Borrower identified as a “Guarantor” on the
signature pages hereto (individually a “Guarantor” and
collectively the “Guarantors”), the
financial institutions party hereto as lenders (the “Lenders”) and WACHOVIA BANK, NATIONAL
ASSOCIATION, as administrative agent under the Credit Agreement (defined
below) (in such capacity, the “Administrative
Agent”).

    

    W I T N E S S E T H

    

    WHEREAS, the Borrower, the
Guarantors, Glenayre Electronics, Inc., a Colorado corporation, the Lenders and
the Administrative Agent are parties to that certain Credit Agreement dated as
of May 31, 2005 (as previously amended, modified or supplemented and as further
amended, modified, supplemented, restated or amended and restated from time to
time, the “Credit
Agreement”; capitalized terms used herein shall have the meanings
ascribed thereto in the Credit Agreement as amended hereby); and

    

    WHEREAS, the Borrower and the
Lenders have agreed to amend the Credit Agreement on the terms and conditions
set forth herein;

    

    NOW, THEREFORE, in
consideration of the agreements hereinafter set forth, and for other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

    

    

    ARTICLE
I

    AMENDMENT
TO CREDIT AGREEMENT

    

    1.1           Amendment
to Section 1.1.  Section 1.1 of
the Credit Agreement is hereby amended as follows:

    

    
    

    
      
        (a)    The
definition of “Consolidated EBITDA” is hereby deleted in its entirety and
replaced with the following:

      

    

     

    
      “Consolidated EBITDA”
shall mean, for any period, the sum of (a) Consolidated Net Income for such
period, plus
(b) an amount which, in the determination of Consolidated Net Income for such
period, has been deducted for (i) Consolidated Interest Expense, (ii) total
federal, state, local and foreign income taxes and (iii) depreciation and
amortization expense, all as determined in accordance with GAAP (except for the
exclusion of Rebate Payments).  Notwithstanding the foregoing, for
the

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    fiscal
quarters ended December 31, 2007, March 31, 2008, June 30, 2008 and September
30, 2008 Consolidated EBITDA shall be calculated by adding to the number
determined pursuant to the foregoing sentence non-cash charges not exceeding
$9,900,000 in the aggregate relating to the impairment charge taken in 2007 in
connection with the Acquisition, to the extent such non-cash charges were
deducted in the determination of Consolidated Net Income for the applicable
period.

     

     

    
      ARTICLE
II

    

    CONDITIONS
TO EFFECTIVENESS

     

     

    2.1           Closing
Conditions.

     

    This Amendment shall become effective
as of the date hereof (the “Fifth Amendment Effective
Date”) upon satisfaction of the following conditions (in form and
substance reasonably acceptable to the Administrative Agent); provided, however, that the
change to the definition of Consolidated EBITDA shall be deemed to be
retroactively effective as of December 30, 2007 on the Fifth Amendment Effective
Date:

    

    (a)           Executed
Amendment.  The Administrative Agent shall have received a copy
of this Amendment duly executed by each of the Credit Parties, the Required
Lenders and the Administrative Agent.

    

    (b)           Amendment
Fee.  The Borrower shall have paid or caused to be paid an
additional amendment fee to the Administrative Agent in connection with this
Amendment for the account of each Lender that shall have returned executed
signature pages to this Amendment no later than 5:00 p.m. on March 4, 2008, as
directed by the Administrative Agent, in an aggregate amount equal to $40,500 to
be allocated among the Lenders pro rata according to their Term Loan Commitment
Percentage.

    

    (c)           Other.  The
Administrative Agent shall have received such other documents, agreements or
information which it may reasonably request relating to the Credit Parties and
the transactions contemplated by this Amendment and any other matters relevant
hereto or thereto, all in form and substance satisfactory to the Administrative
Agent in its sole good faith discretion.

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    ARTICLE
III

    MISCELLANEOUS

    

    3.1           Amended
Terms.  All references to the Credit Agreement in each of the
Credit Documents shall hereafter mean the Credit Agreement as amended by this
Amendment.  Except as specifically amended hereby or otherwise agreed,
the Credit Agreement is hereby ratified and confirmed and shall remain in full
force and effect according to its terms.

    

    3.2           Representations
and Warranties of Credit Parties.  Each of the Credit
Parties represents and warrants as follows as of the date hereof:

    

    (a)           It
has taken all necessary action to authorize the execution, delivery and
performance of this Amendment.

    

    (b)           This
Amendment has been duly executed and delivered by such Person and constitutes
such Person’s valid and legally binding obligations, enforceable in accordance
with its terms, except as such enforceability may be subject to
(i) bankruptcy, insolvency, reorganization, fraudulent conveyance or
transfer, moratorium or similar laws affecting creditors’ rights generally and
(ii) general principles of equity (regardless of whether such
enforceability is considered in a proceeding at law or in equity).

    

    (c)           No
consent, approval, authorization or order of, or filing, registration or
qualification with, any Governmental Authority or third party is required in
connection with the execution, delivery or performance by such Person of this
Amendment.

    

    (d)           The
representations and warranties set forth in Article III of the Credit
Agreement are true and correct in all material respects as of the date hereof
(except for those which expressly relate to an earlier date).

    

    3.3           Acknowledgment
of Guarantors.  The Guarantors acknowledge and consent to all
of the terms and conditions of this Amendment and agree that this Amendment and
all documents executed in connection herewith do not operate to reduce or
discharge the Guarantors’ obligations under the Credit Documents.

    

    3.4           Credit
Document.  This Amendment
shall constitute a Credit Document under the terms of the Credit
Agreement.

    

    3.5           Entirety.  This
Amendment and the other Credit Documents embody the entire agreement between the
parties hereto and supersede all prior agreements and understandings, oral or
written, if any, relating to the subject matter hereof.

    

    3.6           Counterparts;
Telecopy.  This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be an original,
but all of which shall constitute one and the same
instrument.  Delivery of an executed counterpart to this

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

     

    Amendment by telecopy shall be
effective as an original and shall constitute a representation that an original
will be delivered.

     

    3.7           GOVERNING
LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

    

    3.8           Consent
to Jurisdiction; Service of Process; Waiver of Jury Trial.  The jurisdiction,
services of process and waiver of jury trial provisions set forth in Sections
9.14 and 9.17 of the Credit Agreement are hereby incorporated by reference,
mutatis
mutandis.

    

    3.9           Fees.  The Borrower
agrees to pay all fees and expenses of the Administrative Agent in connection
with the preparation, execution and delivery of this Amendment, including,
without limitation, the fees and expenses of Moore & Van Allen
PLLC.

    

    [remainder
of page intentionally left blank]

     

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
 

    IN WITNESS WHEREOF the Borrower, the
Guarantors, the Lenders, and the Administrative Agent have caused this Amendment
to be duly executed on the date first above written.

     

     

    
      	 BORROWER : 
      	
              ENTERTAINMENT
      DISTRIBUTION COMPANY, LLC, a Delaware limited liability
      company 
      

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Jordan M. Copland	 
      
	 
      	
              Name: 
      

            	
              Jordan M. Copland

            	 
      
	 
      	
              Title: 
      

            	Chief Executive
      Officer	 
      

    

     

    

    
      	
              GUARANTORS:
  	
              
                ENTERTAINMENT DISTRIBUTION
      COMPANY (USA), LLC, a Delaware
      limited liability company

              

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/
      Jordan M. Copland  	 
      
	 
      	
              Name: 
      

            	
              
                Jordan M. Copland

              

            	 
      
	 
      	
              Title: 
      

            	
              Chief Executive Officer

            	 
      

    

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              
                ADMINISTRATIVE
      AGENT

                AND
      LENDERS:

              
  	
              
                 

                WACHOVIA BANK,
NATIONAL
      ASSOCIATION,
as Administrative Agent and as a Lender 
      

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Elaine
      Eaton  	 
      
	 
      	
              Name: 
      

            	
              Elaine Eaton

            	 
      
	 
      	
              Title: 
      

            	
              Senior Vice
      President

            	 
      

    

     

                                                              

     

    
      	
              
                 

              

            	
              
                ING CAPITAL LLC, as a Lender  

              

            	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
              By:

            	/s/ Andrew
      Latton  	 
      
	 
      	
              Name: 
      

            	
              
                Andrew Latton

              

            	 
      
	 
      	
              Title: 
      

            	
              
                Vice
      President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}]]