Document:

Ex-10.3 First Amendment

Exhibit 10.3

FIRST AMENDMENT TO

SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND CONSENT

     This FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT AND CONSENT (this
“Amendment”) is made and entered into as of this 17th day of January, 2008, by
and among GOLDLEAF FINANCIAL SOLUTIONS, INC., a Tennessee corporation, as borrower (the
“Borrower”), BANK OF AMERICA, N.A., a national banking association, as a lender (“Bank
of America”), THE PEOPLES BANK, as a lender (“Peoples Bank”) and WACHOVIA BANK, N.A.,
as a lender (“Wachovia”) (collectively, with Bank of America and Peoples Bank, the
“Lenders”).

W I T N E S S E T H:

     WHEREAS, the Borrower and certain Lenders are parties to that certain Second Amended and
Restated Credit Agreement, dated as of November 30, 2006 (the “Credit Agreement”), pursuant
to which certain Lenders extended certain financial accommodations to the Borrower;

     WHEREAS, the Borrower has requested, and the Lenders signatory hereto have agreed to (subject
to the terms and conditions set forth herein), the purchase by Borrower of all of the capital stock
of Alogent Corporation by a merger with an existing Subsidiary, with Alogent Corporation being the
surviving corporation;

     WHEREAS, the Borrower has requested, and the Lenders signatory hereto have agreed to (subject
to the terms and conditions set forth herein), the use of certain proceeds of the Revolving Credit
Loan for the Alogent Acquisition (as defined below); and

     WHEREAS, the Borrower has requested that the Lenders, and the Lenders have agreed to, subject
to the terms hereof, amend certain provisions of the Credit Agreement as more fully set forth
herein; and

     NOW, THEREFORE, in consideration of the premises, the terms and conditions contained herein,
and other good and valuable consideration, the receipt, adequacy and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

     1. Definitions. All capitalized terms used herein and not expressly defined herein shall have
the same respective meanings given to such terms in the Credit Agreement.

     2. Amendments to Credit Agreement.

          (a) Section 1.1 of the Credit Agreement is hereby amended by deleting the definitions
of “Applicable Rate,” “EBITDA,” “Restricted Payment,” “Revolving Commitment” and “Senior Funded
Debt” in their entirety and replacing them with the following definitions:

 

 

               “APPLICABLE
RATE’ means, from time to time, the following percentages per annum, based upon
the Funded Debt to EBITDA Ratio (the “Applicable Financial Covenant”) as set forth in the most
recent Compliance Certificate received by Administrative Agent pursuant to Section 6.2(b):

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Funded Debt to EBITDA	 	 	 	 	 	 
	Pricing Level	 	Ratio	 	LIBOR Margin	 	Base Rate Margin	 	Commitment Fee
	 	I
	 	 	3 3.50 to 1.0	 	 	3.00	%	 	 	0.50	%	 	 	0.625	%
	 	II
	 	 	3 3.00 to 1.0 but < 3.50 to 1.0	 	 	2.75	%	 	 	0.25	%	 	 	0.50	%
	 	III
	 	 	3 2.50 to 1.0 but < 3.00 to 1.0	 	 	2.50	%	 	 	0.00	%	 	 	0.50	%
	 	IV
	 	 	3 1.50 to 1.0 but < 2.50 to 1.0	 	 	2.00	%	 	 	0.00	%	 	 	0.35	%
	 	V
	 	 	< 1.50 to 1.0	 	 	1.375	%	 	 	0.00	%	 	 	0.25	%

Any increase or decrease in the Applicable Rate resulting from a change in the Applicable Financial
Covenant shall become effective commencing on the 5th Business Day immediately following the date a
Compliance Certificate is delivered pursuant to Section 6.2(b); provided,
however, that if a Compliance Certificate is not delivered when due in accordance with such
Section, then Pricing Level I shall apply commencing on the 5th Business Day following the date
such Compliance Certificate was required to have been delivered. Commencing upon the 5th Business
Day following receipt of such delinquent Compliance Certificate, the Applicable Rate shall be
adjusted to the appropriate Pricing Level. The Applicable Rate in effect from the First Amendment
Date through delivery of the Compliance Certificate for the period ending June 30, 2008 shall be
determined based upon Pricing Level I.”

               “EBITDA” means, with respect to any Person for any period, on a consolidated basis
the sum of (a) net income available to common stockholders plus (b) to the extent deducted
in arriving at net income, the sum of: (i) preferred stock dividends paid and preferred stock
deemed distributions, (ii) income tax expense (less income tax benefit), (iii) interest expense,
(iv) depreciation and amortization and (v) annual maintenance fees that will be required to be
excluded from deferred revenue and the profit and loss statement in accordance with SOP 97-1 and
SOP 98-2 as part of purchase accounting. Notwithstanding the foregoing, Borrower and its
Subsidiaries may add back to EBITDA (A) to the extent deducted in arriving at net income for any
period during the term of the Agreement, non-cash stock compensation expenses and (B) to the extent
deducted in arriving at net income on or prior to March 31, 2008, (1) for calculations which
include periods ending prior to December 31, 2006, employee severance expenses, non-cash debt
amortization expenses, and costs necessary to change Borrower’s corporate name and the rollout of
said name, in each case incurred or expensed during periods ending prior to December 31, 2006, in
an aggregate amount not to exceed Seven Hundred Thousand Dollars ($700,000), (2) for calculations
which include periods ending prior to December 31, 2006, expenses relating to the write-off of
existing debt issuance costs from the Existing Credit Agreement in an aggregate amount not to
exceed One Hundred Thirty Thousand Dollars ($130,000), (3) so long as such elimination occurs prior
to December 31, 2006, following elimination of the duplicative leases in connection with the
Acquisition listed on Schedule 2

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attached to the Existing Credit Agreement, as certified by Borrower, specifically identified
synergies related to duplicative facilities rent, in an aggregate amount not to exceed Two Hundred
Seventy-Seven Thousand Dollars ($277,000) for the twelve (12) month period ending on the quarter
end immediately preceding the elimination of such leases, and not to exceed Two Hundred Seven
Thousand Dollars ($207,000) for the twelve (12) month period ending on the first quarter end after
the elimination of such leases; One Hundred Thirty Eight Thousand Dollars ($138,000) for the twelve
(12) month period ending on the second quarter end after the elimination of such leases; and
Sixty-Nine Thousand Dollars ($69,000) for the twelve (12) month period ending on the third quarter
end after the elimination of such leases and (4) all fees and expenses related to the Goldleaf
Recapitalization approved by the Administrative Agent and in an amount not to exceed $4,400,000.
For the purposes of Section 6.12, EBITDA shall be further adjusted by adding to EBITDA (i)
for periods ending on or prior to December 31, 2008, the amount of non-cash reductions in EBITDA
resulting from the elimination of deferred revenues as a result of the application of purchase
accounting, in an aggregate amount not to exceed $5,000,000, (ii) for periods ending on or prior to
December 31, 2008, costs and expenses relating to the merger as set forth in the Compliance
Certificate for such period in an aggregate amount not to exceed $500,000 and (iii) as set forth in
reasonable detail in the Compliance Certificate for such period (which shall include a listing by
title of positions eliminated and not replaced and the costs and savings resulting therefrom), the
following amounts for each of the periods set forth below:

	 	 	 	 	 
	Measurement Period	 	Addition to EBITDA
	First Amendment Date through March 31, 2008
	 	$	1,718,000	 
	April 1, 2008 through June 30, 2008
	 	$	1,288,500	 
	July 1, 2008 through September 30, 2008
	 	$	859,000	 
	October 1, 2008 through December 31, 2008
	 	$	429,500	 

               “RESTRICTED PAYMENT’ means (i) any dividend or other distribution (whether in cash,
securities or other property) with respect to any capital stock or other equity interest of
Borrower or any Subsidiary, (ii) any payment (whether in cash, securities or other property),
including any sinking fund or similar deposit on account of the purchase, redemption, retirement,
acquisition, cancellation or termination of any such capital stock or other equity interest or of
any option, warrant or other right to acquire any such capital stock or other equity interest,
(iii) any voluntary pre payment on any of the Subordinated Liabilities and (iv) any other payment
on any of the Subordinated Liabilities upon the occurrence and during the continuation of a Default
or an Event of Default.”

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               “REVOLVING COMMITMENT’ means the obligations of the Lenders to make Credit
Extensions to the Borrower hereunder in an aggregate amount not to exceed $45,000,000 at any time,
as such amount may be adjusted from time to time in accordance with this Agreement.”

               “SENIOR FUNDED DEBT’ means any Funded Debt other than Funded Debt expressly
subordinated to the Obligations on terms and conditions satisfactory to the Majority Lenders.”

          (b) Section 1.1 of the Credit Agreement is hereby further amended by inserting the
following new defined terms in appropriate alphabetical order:

               “Alogent’ means Alogent Corporation.”

               “First Amendment Date’ means January 17, 2008.”

          (c) Section 6.12 of the Credit Agreement is hereby amended by deleting such section in
its entirety and replacing it with the following:

          “6.12 Financial Covenants. Comply with and deliver a Compliance Certificate to Administrative
Agent certifying the following:

          (a) Funded Debt to EBITDA Ratio. Maintain on a consolidated basis a ratio of Funded Debt to
EBITDA not exceeding the following:

	 	 	 	 	 
	Measurement Period	 	Funded Debt to EBITDA Ratio
	First Amendment Date through March 31, 2008
	 	 	4.20 to 1.00	 
	April 1, 2008 through September 30, 2008
	 	 	4.00 to 1.00	 
	October 1, 2008 through December 31, 2008
	 	 	3.50 to 1.00	 
	January 1, 2009 through Revolving Credit
Maturity Date
	 	 	3.00 to 1.00	 

This ratio will be calculated (x) at the end of each fiscal quarter for which this Agreement
requires Borrower to deliver financial statements, using the results of the twelve-month period
ending with that fiscal quarter and after giving pro forma effect to any Acquisition made during
such period and (y) on the date of any Credit Extension, using EBITDA for the most recent period
and Funded Debt after giving pro forma effect to such Credit Extension.

          (b) Fixed Charge Coverage Ratio. Maintain on a consolidated basis a Fixed Charge Coverage
Ratio of not less than 2.00 to 1.00.

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          (c) Capital Expenditures. Not spend or incur obligations (including the total amount
of software development expenses) to acquire fixed assets (other than any KVI
equipment)(“Capital Expenditures”) having a value of more than Seven Million Dollars
($7,000,000) during any fiscal year.

          (d) Senior Funded Debt to EBITDA. Maintain on a consolidated basis a ratio of Senior Funded
Debt to EBITDA not exceeding the following:

	 	 	 	 	 
	Measurement Period	 	Senior Funded Debt to EBITDA Ratio
	First Amendment Date through March
31, 2008
	 	 	3.50 to 1.00	 
	April 1, 2008 through September 30,
2008
	 	 	3.25 to 1.00	 
	October 1, 2008 through Revolving
Credit Maturity Date
	 	 	3.00 to 1.00	 

This ratio will be calculated (x) at the end of each fiscal quarter for which this Agreement
requires Borrower to deliver financial statements, using the results of the twelve-month — period
ending with that fiscal quarter and after giving pro forma effect to any Acquisition made during
such period and (y) on the date of any Credit Extension, using EBITDA for the most recent period
and Funded Debt after giving pro forma effect to such Credit Extension.

          (d) Section 7.1 of the Credit Agreement is hereby amended by adding the following
subsection:

               “(j) Liens securing KVI Loans.”

          (e) Section 7.3(e) of the Credit Agreement is hereby amended by deleting such
subsection in its entirety and replacing it with the following:

          “ (e) (i) the capital lease obligations set forth on Schedule 6.12(a), (ii) additional
capital lease obligations not to exceed $500,000 in the aggregate at any time and (ii) that
certain Convertible Senior Subordinated Promissory Note dated as of the First Amendment Date
(the “Convertible Seller Note”);”

          (f) Section 8.1 of the Credit Agreement is hereby amended by adding the following new
subsection (m):

          “(m) (i) The Borrower amends the Convertible Seller Note or (ii) there occurs any
Major Event, as defined in the Convertible Seller Note dated as of the First Amendment Date
(as in effect on the First Amendment Date).”

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     3. Amendments to Collateral Documents. Each of the Borrower Security Agreement, the Second
Amended and Restated Borrower Stock Pledge Agreement, the Second Amended and Restated Subsidiary
Security Agreement and the Second Amended and Restated Subsidiary Stock Pledge Agreement are hereby
amended by including Alogent in each reference to “Subsidiary.”

     4. Consent. Notwithstanding anything in the Loan Documents to the contrary, including,
without limitation, the restrictions set forth in Section 7.2, 7.3 or 7.6 of the Credit Agreement,
the Lenders hereby consent to (a) the acquisition (i) by Borrower or any of its Subsidiaries of all
of the capital stock of Alogent Corporation (the “Alogent Aquisition”) by a merger into an
existing Subsidiary and (ii) for an aggregate purchase price of not more than $45,000,000 and (b)
the issuance on the date of the purchase of Convertible Seller Notes in the form attached to the
Agreement and Plan of Merger to the former shareholders of Alogent Corporation in the amount of not
more than $8,000,000 and payment pursuant to the terms thereof. Conversion of any or all of the
Convertible Seller Notes by the former shareholders of Alogent Corporation into stock of the
Borrower will not be deemed an Issuance of an Equity Interest for purposes of Section 2.13(c).

     5. Representations and Warranties. The Borrower hereby represents and warrants to and in
favor of the Lender as follows:

          (a) each representation and warranty set forth in Article 5 of the Credit Agreement, as
amended hereby, is hereby restated and affirmed as true and correct in all material respects as of
the date hereof, except to the extent (i) previously fulfilled in accordance with the terms of the
Credit Agreement, as amended hereby, (ii) the Borrower has provided the Lender updates to
information provided to the Lender in accordance with the terms of such representations and
warranties, or (iii) relating specifically to the Closing Date or otherwise inapplicable; provided
however, the list attached hereto as Schedule 5.19(c) shall be added to the existing Schedule
5.19(c) and the list attached hereto as Schedule 5.19(d) shall be added to the existing Schedule
5.19(d); and provided further, the list attached hereto as Schedule 6.12(a) shall be added to the
existing Schedule 6.12(a).

          (b) the Borrower and each Guarantor has the corporate power and authority (i) to enter into
this Amendment, and (ii) to do all acts and things as are required or contemplated hereunder to be
done, observed and performed by it;

          (c) this Amendment has been duly authorized, validly executed and delivered by one or more
Responsible Officers of the Borrower and each Guarantor, and constitutes the legal, valid and
binding obligations of the Borrower, enforceable against the Borrower in accordance with its terms,
subject, as to enforcement of remedies, to the following qualifications: (i) an order of specific
performance and an injunction are discretionary remedies and, in particular, may not be available
where damages are considered an adequate remedy at law, and (ii) enforcement may be limited by
bankruptcy, insolvency, liquidation, reorganization, reconstruction and other similar laws
affecting enforcement of creditors’ rights generally (insofar as any such law relates to the
bankruptcy, insolvency or similar event of the Borrower);

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          (d) the execution and delivery of this Amendment and performance by the Borrower under the
Credit Agreement, as amended hereby, does not and will not require the consent or approval of any
regulatory authority or governmental authority or agency having jurisdiction over the Borrower
which has not already been obtained, nor be in contravention of or in conflict with the articles of
incorporation or by-laws of the Borrower, or any provision of any statute, judgment, order,
indenture, instrument, agreement, or undertaking, to which the Borrower is party or by which the
Borrower’s assets or properties are bound; and

          (e) no Default exists both before and after giving effect to this Amendment, and there has
been no Material Adverse Effect both before and after giving effect to this Amendment.

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

          (a) Receipt by Lenders of each of the following items, in each case in form and substance
satisfactory to the Lenders:

          (i) this Amendment, duly executed and delivered by Borrower, the Guarantors and the
Lenders;

          (ii) a Revolving Credit Loan Note, duly executed and delivered by Borrower in favor of
Wachovia Bank, N.A., in the amount of $16,000,000;

          (iii) such documents and certificates as Administrative Agent may reasonably require to
evidence that Alogent is duly organized or formed and is validly existing, in good standing
and qualified to engage in business in each jurisdiction where its ownership, lease or
operation of properties or the conduct of its business requires such qualification.

          (b) The Lenders shall have received all fees from the Borrower required to be paid in
connection with this Amendment on the date hereof, including without limitation (i) an amendment
fee of (a) 0.20% payable to the existing Lenders on their existing Revolving Commitments and (b)
0.25% payable to Lenders providing increased commitments on their increased Revolving Commitment
and (ii) fees pursuant to that certain Fee Letter, dated as of January 10, 2008, between Borrower
and Bank of America and (iii) shall have been reimbursed for all reasonable fees, costs and
expenses of closing, including all reasonable legal fees of Lenders’ counsel, presented as of the
date of this Amendment.

          (c) As of the First Amendment Date, immediately after giving effect to the acquisition of
Target, Borrower must have a minimum of $2,750,000 in availability on the increased Revolving
Facility.

     7. Condition Subsequent to Effectiveness of Amendment. On or prior to January 27, 2008, the
Borrower shall deliver to the Administrative Agent and the Lenders, in form and substance
satisfactory to the Administrative Agent, a Joinder Agreement to the Subsidiary Guaranty, the
Subsidiary Security Agreement and the Subsidiary Stock Pledge Agreement.

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     8. Guarantor Acknowledgment.

          (a) Each of the Guarantors hereby acknowledges that it has reviewed the terms and provisions
of the Credit Agreement and this Amendment. Each of the Guarantors hereby confirms that the
Subsidiary Guaranty, as applicable, to which it is a party or otherwise bound will continue to
guarantee, as the case may be, to the fullest extent possible in accordance with such Guarantee the
payment and performance of all “Guarantied Obligations” under each of the Guarantees, as
the case may be (in each case as such terms are defined in the applicable Guarantee), including
without limitation the payment and performance of all such “Obligations” under each of the
Guarantees, as the case may be, in respect of the Obligations of the Borrower now or hereafter
existing under or in respect of the Credit Agreement and the Notes defined therein.

          (b) Each of the Guarantors acknowledges and agrees that any of the Guarantees to which it is a
party or otherwise bound shall continue in full force and effect and that all of its obligations
thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or
effectiveness of this Amendment. Each of the Guarantors represents and warrants that all
representations and warranties contained in the Credit Agreement, this Amendment and the Guarantee
to which it is a party or otherwise bound are true, correct and complete in all material respects
on and as of the date hereof to the same extent as though made on and as of that date, except to
the extent such representations and warranties specifically relate to an earlier date, in which
case they were true, correct and complete in all material respects on and as of such earlier date.

          (c) Each of the Guarantors acknowledges and agrees that (i) notwithstanding the conditions to
effectiveness set forth in this Amendment, such Guarantor is not required by the terms of the
Credit Agreement or any other Loan Document to consent to the amendments of the Credit Agreement
effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any
other Loan Document shall be deemed to require the consent of such Guarantor to any future
amendments to the Credit Agreement.

     9. Effect of Amendment; No Novation. Except as expressly set forth herein, the Credit
Agreement shall remain unchanged and in full force and effect and shall constitute the legal,
valid, binding and enforceable obligation of the Borrower to the Lender, and Borrower hereby
restates, ratifies and reaffirms each and every term and condition set forth in the Credit
Agreement, as amended hereby. The terms of this Amendment are not intended to and do not serve as
a novation as to the Credit Agreement or any Note or the indebtedness evidenced thereby. The
parties hereto expressly do not intend to extinguish any debt or security interest created pursuant
to the Credit Agreement or any document executed in connection therewith. Instead it is the
express intention to affirm the Credit Agreement and the security created thereby.

     10. Counterparts. This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which, when so executed and

- 8 -

 

delivered, shall be deemed to be an original and all of which counterparts, taken together,
shall constitute but one and the same instrument.

     11. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of
the successors and permitted assigns of the parties hereto.

     12. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF GEORGIA, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.

[Remainder of Page Intentionally Left Blank]

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     IN WITNESS WHEREOF, the parties hereto have executed this Amendment under seal as of the day
and year first above written.

	 	 	 	 	 
	 	GOLDLEAF FINANCIAL SOLUTIONS, INC.,

as Borrower

 	 
	 	By:  	/s/ G. Lynn Boggs
 	 
	 	 	Name:  	G. Lynn Boggs 	 
	 	 	Title:  	Chief Executive Officer 	 
	 
	 	BANK OF AMERICA, N.A.,

as Lender

 	 
	 	By:  	/s/ Shawn Janks
 	 
	 	 	Name:  	Shawn Janks 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	THE PEOPLES BANK,

as Lender

 	 
	 	By:  	/s/ Kenneth D. Lumpkin
 	 
	 	 	Name:  	Kenneth D. Lumpkin 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	WACHOVIA BANK, N.A.

as Lender

 	 
	 	By:  	/s/ Brian L. Martin
 	 
	 	 	Name:  	Brian L. Martin 	 
	 	 	Title:  	Senior Vice President 	 
	 

First Amendment to 

Second Amended and Restated Credit Agreement

Signature Page 

 

 

ACKNOWLEDGED AND CONSENTED

TO BY THE FOLLOWING GUARANTORS:

GOLDLEAF TECHNOLOGIES, INC.

	 	 	 	 	 
	By:

	 	/s/ G. Lynn Boggs	 	 
	 

	 	 

Name: G. Lynn Boggs
	 	 
	 

	 	Title: Chief Executive Officer	 	 
	 
	 	 	 	 
	CAPTIVA FINANCIAL SOLUTIONS, LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ G. Lynn Boggs	 	 
	 

	 	 

Name: G. Lynn Boggs
	 	 
	 

	 	Title: Chief Executive Officer	 	 
	 
	 	 	 	 
	TOWNE SERVICES, INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ G. Lynn Boggs	 	 
	 

	 	 

Name: G. Lynn Boggs
	 	 
	 

	 	Title: Chief Executive Officer	 	 
	 
	 	 	 	 
	FORSEON CORPORATION	 	 
	 
	 	 	 	 
	By:

	 	/s/ G. Lynn Boggs	 	 
	 

	 	 

Name: G. Lynn Boggs
	 	 
	 

	 	Title: Chief Executive Officer	 	 

First Amendment to 

Second Amended and Restated Credit Agreement

Signature Page 

 

 

GOLDLEAF LEASING, LLC

	 	 	 	 	 
	By:

	 	/s/ G. Lynn Boggs	 	 
	 

	 	 

Name: G. Lynn Boggs
	 	 
	 

	 	Title: Chief Executive Officer	 	 
	 
	 	 	 	 
	GOLDLEAF INSURANCE, LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ G. Lynn Boggs	 	 
	 

	 	 

Name: G. Lynn Boggs
	 	 
	 

	 	Title: Chief Executive Officer	 	 

First Amendment to 

Second Amended and Restated Credit Agreement

Signature Page 

 

 

Schedule 5.19(c)

Patents

Alogent applied for patent protection for several aspects of its technology / process. In addition
to filing with the United States Patent and Trademark Office, Alogent applied with the Patent
Cooperation Treaty for international patent protection. If granted, this protection will extend to
the countries of the European Union, as well as Canada, Brazil, and Australia.

Patents granted in US

     Front Counter and Back Counter Workflow Integration (Patent 7,252,224)

	 	 	 
	U.S. Serial No.: —11/210,003

	 	Filed: 23 Aug 2005

Patent Applications Filed

     Computer Implemented Method and Apparatus for Item Processing

	 	 	 
	U.S. Serial No.: 09/795,670

	 	Filed: February 28, 2001

     Image Enabled Item Processing For Point Of Presentment Application

	 	 	 
	U.S. Serial No.: 10/698,710

	 	Filed: October 31, 2003

     Real Time Image Quality Analysis and Verification

	 	 	 
	U.S. Serial No.: — 11/210,004

	 	Filed: 23 Aug 2005

 

 

Schedule 5.19(d)

Alogent registered the following trademarks in connection with its products.

Sierra (US)

Sierra Clearing (US)

Sierra Xpedite (US)

xClearing (US)

Alogent in combo with A <stylized> and converging payments (US)

Sierra Xchange (US)

Straight Through Check Processing (US)

Xpedited by Alogent (US)

Alogent (US)

A <stylized> (US)

Alogent in combo with A <stylized> (US)

Alogent in combo with A (stylized) and converging payments phrase (US)

The Industry Check (phrase) (US)

Sierra Clearing (UK)

Sierra Xpedite (UK)

xClearing (UK)

Xpedited by Alogent (UK)

Sierra Xchange (UK)

Straight Through Check Processing (UK)

Alogent in combo with A (stylized) and converging payments phrase (UK)Ex-10.4 Interest Rate Swap Agreement

Exhibit 10.4

	 	 	 
	To:
	 	Goldleaf Financial Solutions Inc
	 
	 	9010 Overlook Blvd
	 
	 	Brentwood
	 
	 	TN 370270000
	 
	 	United States
	Attn:
	 	Scott Meyerhoff
	Telephone:
	 	678 910 3730
	Fax:
	 	678 966 0844
	 
	 	 
	From:
	 	Bank of America, N.A.
	 
	 	233 South Wacker Drive – Suite 2800
	 
	 	Chicago
	 
	 	Illinois 60606
	 
	 	U.S.A.
	Department:
	 	Swaps Operations
	Telephone:
	 	(+1) 312 234 2732
	Fax:
	 	(+1) 866 255 1444
	 
	 	 
	Date:
	 	31st January 2008
	 
	 	 
	Our Reference No:
	 	50228264
	Reference Name:
	 	Douglas Thornton
	Internal Tracking No:
	 	50228264
	 
	 	 
	Dear Sir/Madam,
	 	 

The purpose of this letter agreement is to confirm the terms and conditions of the Transaction
entered into between Goldleaf Financial Solutions Inc and Bank of
America, N.A. (each a “party”
and together “the parties”) on the Trade Date specified below (the “Transaction”). This letter
agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified
below (the “Agreement”).

The definitions and provisions contained in the 2006 ISDA Definitions, as published by the
International Swaps and Derivatives Association, Inc., (the “Definitions”) are incorporated into
this Confirmation. In the event of any inconsistency between the Definitions and this Confirmation,
this Confirmation will govern.

This Confirmation evidences a complete binding agreement between the parties as to the terms of the
Transaction to which this Confirmation relates. In addition, the parties agree to use all
reasonable efforts promptly to negotiate, execute and deliver an agreement in the form of an ISDA
Master Agreement, with such modifications as the parties will in good faith agree. Upon the
execution by the parties of such an agreement, this Confirmation will supplement, form a part of,
and be subject to that agreement. All provisions contained or incorporated by reference in that
agreement upon its execution will govern this Confirmation except as expressly modified below.
Until the parties execute and deliver that agreement, this Confirmation, together with all other
documents referring to an ISDA Master Agreement (each a “Confirmation”) confirming transactions
(each a “Transaction”) entered into between the parties (notwithstanding anything to the
contrary in a Confirmation), shall supplement, form a part of, and be subject to an agreement in
the form of the 1992 ISDA Master Agreement (Multicurrency – Cross Border) if any Confirmation dated
prior to the date of this Confirmation refers to that ISDA Master Agreement and otherwise the 2002
ISDA Master Agreement as if the parties had executed an agreement in such form (but without any
Schedule) on the Trade Date of the first such Transaction between the parties. In the event of any
inconsistency between the provisions of that agreement and this Confirmation, this Confirmation
will prevail for the purpose of this Transaction.

1

 

In this Confirmation “Party A” means Bank of America, N.A. and “Party B” means Goldleaf
Financial Solutions Inc.

General Terms:

The terms of the particular Transaction to which this Confirmation relates are as follows:

	 	 	 	 	 
	 

	 	Notional Amount:
	 	USD 20,000,000.00
	 
	 	 	 	 
	 

	 	Trade Date:
	 	30th January 2008
	 
	 	 	 	 
	 

	 	Effective Date:
	 	8th February 2008
	 
	 	 	 	 
	 

	 	Termination Date:
	 	30th November 2009, subject to adjustment in accordance with
the Modified Following Business Day Convention
	 
	 	 	 	 
	Fixed Amounts:	 	 
	 
	 	 	 	 
	 

	 	Fixed Rate Payer:
	 	Party B
	 
	 	 	 	 
	 

	 	Fixed Rate Payer	 	 
	 

	 	Payment Dates:
	 	The 8th of each Month, commencing on 8th March 2008 and
ending on the Termination Date, subject to adjustment in
accordance with the Modified Following Business Day
Convention
	 
	 	 	 	 
	 

	 	Fixed Rate:
	 	2.95000 per cent
	 
	 	 	 	 
	 

	 	Fixed Rate Day	 	 
	 

	 	Count Fraction:
	 	Actual/360

Floating Amounts:

	 	 	 	 	 
	 

	 	Floating Rate Payer:
	 	Party A
	 
	 	 	 	 
	 

	 	Floating Rate Payer	 	 
	 

	 	Payment Dates:
	 	The 8th of each Month, commencing on 8th March 2008 and
ending on the Termination Date, subject to adjustment in
accordance with the Modified Following Business Day
Convention
	 
	 	 	 	 
	 

	 	Floating Rate for initial	 	 
	 

	 	Calculation Period:
	 	to be determined
	 
	 	 	 	 
	 

	 	Floating Rate Option:
	 	USD–LIBOR–BBA

2

 

	 	 	 	 	 
	 

	 	Designated Maturity:
	 	1 Month provided that Linear Interpolation will
apply to the
final Calculation Period
	 
	 	 	 	 
	 

	 	Spread:
	 	None
	 
	 	 	 	 
	 

	 	Floating Rate Day	 	 
	 

	 	Count Fraction:
	 	Actual/360
	 
	 	 	 	 
	 

	 	Reset Dates:
	 	First day of each Calculation Period
	 
	 	 	 	 
	 

	 	Business Days:
	 	New York
	 
	 	 	 	 
	 

	 	Calculation Agent:
	 	Party A
	 
	 	 	 	 
	 

	 	Other Provisions:	 	 
	 
	 	 	 	 
	 	 	USA PATRIOT Act Notice. Party A hereby notifies Party B that pursuant to the requirements of the
USA Patriot Act (Title III of Pub. L. 107–56 (signed into law
October 26, 2001)) (the “Act”), it
is required to obtain, verify and record information that identifies Party B, which information
includes the name and address of Party B and other information that will allow Party A to identify
Party B in accordance with the Act.
	 
	 	 	 	 
	 	 	Recording of Conversations:
	 
	 	 	 	 
	 	 	Each party to this Agreement acknowledges and agrees to the recording of conversations between
trading and marketing personnel of the parties to this Agreement whether by one or other or both of
the parties or their agents.

Credit Support Document:

Party B agrees and acknowledges that any and all Collateral, guarantees, or security interests
heretofore or hereafter pledged, guaranteed, or granted to Party A pursuant to the Credit
Agreement, any security agreement, guarantee, or related document shall also serve as collateral
security for or guarantee of the obligations of Party B hereunder and Party B hereby grants to
Party A a continuing security interest in any and all Collateral heretofore or hereafter pledged to
Party A pursuant to a Credit Agreement or related document as security for any and all obligations
of Party B hereunder. Party B agrees to cause any security interest granted pursuant to any Credit
Agreement or related document to specifically include the obligations of Party B hereunder as
secured obligations thereunder. As used herein, (a) “Credit Agreement” means any note, instrument,
agreement or other document for borrowed money now or hereafter entered into between Party A and
Party B, as the same may be amended, modified, supplemented, restated or replaced from time to time
with the consent of Party A and (b) “Collateral” means any or all accounts, equipment, general
intangibles, instruments, inventory, intellectual property and all proceeds and products of such in
which Party B has an ownership interest or any other property which may be included or more
specifically defined in such Credit Agreement.

3

 

Cross Default Provision:

The
“Cross–Default” provisions of Section 5(a)(vi) will apply to Party B. In connection therewith,
“Specified Indebtedness” will not have the meaning specified in Section 14, and such definition
shall be replaced by the following: “any obligation in respect of the payment of moneys (whether
present or future, contingent or otherwise, as principal or surety or otherwise), except that such
term shall not include obligations in respect of deposits received in the ordinary course of a
party’s banking business.” Threshold Amount” means the lesser of (i) three percent (3%) of Party
B’s shareholders’ equity and (ii) the amount specified by the parties in the Agreement.

	 	 	 
	Additional Termination Event:

	 	It shall be an Additional Termination Event
with respect to Party B as
the Affected Party if::–
	 
	 	 
	 

	 	(1) Party B fails to execute and deliver to
Party A an ISDA Master
Agreement, including the Schedule thereto,
in form and substance
satisfactory to Party A on or before 30 days
from the date hereof.
Party A shall have the right at any time
after said 30 day period to
designate an Early Termination Date. Failure
by Party A to designate
an Early Termination Date shall not
constitute a waiver of Party A’s
right to terminate this Transaction.
	 
	 	 
	 

	 	(2) for any reason either Party A’s
obligation to lend under the Credit
Agreement is terminated or Party A ceases to
be a party to the Credit
Agreement.
	 
	 	 
	Account Details:
	 	 
	 
	 	 
	As advised under separate cover with reference to this Confirmation, each party shall provide
appropriate payment instructions to the other party in writing and such instructions shall be
deemed to be incorporated into this Confirmation.
	 
	 	 
	Offices:
	 	 
	 
	 	 
	The Office of Party A for this
	 	 
	Transaction is:

	 	Charlotte – NC, United States
	 

	 	Please send reset notices to fax no. (+1) 866 218 8487
	 
	 	 
	The Office of Party B for this
	 	 
	Transaction is:

	 	Brentwood – TN, United States
	 
	 	 
	Governing Law:

	 	the laws of the State of New York (without reference to the conflict of the laws
provisions thereof)
	 
	 	 
	Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement by
returning via telecopier an executed copy of this Confirmation in its entirety to the attention of
Global FX and Derivative Operations (fax no.(+1) 866 255
1444).

4

 

	 	 	 
	Bank of America, N.A.

	 	Accepted and confirmed as of the date first written:
	 

	 	Goldleaf Financial Solutions Inc

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Authorised Signatory

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	Our Reference Number:               50228264	 	 	 	 

5

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