Document:

Exhibit
10.27

 

FIRST
AMENDMENT TO

AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO
AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of January 23,
2008, by and between CONSONUS ACQUISITION CORP., a Delaware corporation (“Borrower”),
and U.S. BANK NATIONAL ASSOCIATION (“Lender”).

 

RECITALS

 

A.          Borrower and Lender
entered into that certain Amended and Restated Credit Agreement, dated as of November 19,
2007 (the “Credit Agreement”), pursuant to which Lender agreed to extend to
Borrower certain credit facilities described therein, including a revolving
line of credit (the “Line of Credit’) in the maximum principal amount
of Two Million Five Hundred Thousand Dollars ($2,500,000.00).

 

B.           Borrower has
requested that Lender issue certain letters of credit under the Line of Credit.

 

C.           Borrower and Lender desire to amend the
Credit Agreement to provide for the issuance of such letters of credit, on and
subject to the terms and conditions set forth herein.

 

NOW,
THEREFORE, Borrower and Lender hereby agree as follows:

 

1.             DEFINITIONS. Capitalized terms used
but not otherwise defined herein shall have the meanings given them in the
Credit Agreement.:

 

2.             CONDITIONS TO LENDER’S
OBLIGATIONS. The following are conditions precedent to the obligations of Lender hereunder:

 

2.1           Borrower shall have
reimbursed Lender’s costs and expenses incurred in connection with this
Amendment and the transactions contemplated hereby, including, without limitation, attorneys’ fees, and documentation costs and charges, whether such
services are furnished by Lender’s employees or agents or by independent
contractors;

 

2.2           All payments due
and owing to Lender under the Loan Documents shall have been paid current as of
the effective date of this Agreement; and

 

2.3           Borrower shall have
delivered to Lender duly executed copies of all documents required by Lender
in connection with this Amendment, including but not limited to the
Reimbursement Agreement (as defined below).

 

3.             AMENDMENT.

 

3.1           The following
definition is hereby added to Article 1 of the Credit Agreement.

 

“Reimbursement
Agreement” – means  that certain Continuing
Reimbursement Agreement for Letters of Credit, dated as of January 23,
2008, between Lender and Borrower, as it may be amended from time to time. The
Reimbursement Agreement is one of the Loan Documents.

 

3.2           The following is
hereby added to the list of Loan Documents on Exhibit A attached to the
Credit Agreement:

 

	
  1.16

  	
   

  	
  Continuing Reimbursement Agreement for
  Letters of Credit between Lender and Borrower, dated as of January 23,
  2008.

  

 

 

3.3           The following is hereby added
to the Credit Agreement as Section 2.1(f):

 

Letters of Credit.

 

(i)            Subject to the terms and conditions of this
Agreement, Lender hereby agrees from time to time prior to the Maturity Date to issue standby
letters of credit in a form acceptable to Lender (each, a “Letter of Credit”)
for the account of Borrower. Letters of Credit may be issued hereunder for no
purposes other than those for which Line of Credit proceeds may be used
pursuant to Section 2.1(c). Each Letter of Credit shall be  subject to
the additional terms and conditions of the Reimbursement Agreement and any
other agreements, applications and related documents required by Lender in
connection with the issuance thereof.

 

(ii)           The aggregate face amount of Letters of Credit outstanding shall  not at any
time exceed Five Hundred Thousand Dollars ($500,000.00). The Line of Credit
Availability shall be reduced by the face amount of each Letter of Credit
issued hereunder.

 

(iii)          No Letter of Credit
issued pursuant to this Agreement shall have a term extending more than one
year beyond the Maturity Date.

 

(iv)          Borrower shall pay to Lender in advance of, and as a condition
precedent to, the issuance of each Letter of Credit a fee in an amount equal to
one percent (1.0%) of the face amount of such Letter of Credit per annum,
computed on the basis of a  three  hundred sixty
(360) day year, for the number of days in the  stated term of the Letter of  Credit.

 

4.             BORROWER REPRESENTATIONS AND WARRANTIES.

 

4.1         Borrower hereby represents and warrants that no Default, or event or
condition which, with the giving of notice or the  passage of
time or both, would constitute a Default, under any of the Loan Documents has
occurred and is continuing, and that all representations and warranties herein
and in the other Loan Documents are true and correct, which representations and
warranties shall survive execution of this Amendment.

 

4.2         Borrower hereby certifies that the organizational documents of Borrower
previously delivered to Lender are in full force and effect and have not been
amended or modified.

 

5.             MISCELLANEOUS.

 

5.1         Confirmation of Credit Agreement and other
Loan Documents. Borrower
hereby affirms and agrees to be bound by all of the terms of the Credit
Agreement, as amended hereby, and the other Loan Documents.

 

5.2         Non-Impairment. Except as expressly provided herein,
nothing in this Amendment shall alter or affect any provision, condition, or
covenant contained in the Credit Agreement or any other Loan Document or affect or impair any  rights,
powers, or remedies of Lender, it being the Intent of the parties that, except
as amended hereby, all of the terms, covenants and conditions of the Credit
Agreement and the other Loan Documents shall remain in full force and effect.

 

5.3         Entire Agreement. This Amendment constitutes the entire
agreement among the parties hereto with respect to the subject matter hereof.

 

2

 

5.4         Governing Law. This Amendment shall be governed by and construed in accordance with
the laws of the State of Utah.

 

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

 

IN WITNESS WHEREOF, Borrower and Lender have executed this Agreement as of
the date appearing on the first page of this Agreement.

 

	
   

  	
  “LENDER”

  
	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL ASSOCIATION,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Nicholas Hintze

  	 

	
   

  	
   

  	
  Name: Nicholas Hintze

  	 

	
   

  	
   

  	
  Title: AVP Assistant Vice President

  	 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  “BORROWER”

  
	
   

  	
   

  
	
   

  	
  CONSONUS ACQUISITION CORP.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert
  C. Muir

  
	
   

  	
   

  	
  Robert C. Muir, Chief Financial Officer

  

 

3Exhibit 10.28

 

SECOND AMENDMENT TO

AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS
SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is
entered into as of May 21, 2008, by and between CONSONUS ACQUISITION CORP., a
Delaware corporation (“Borrower”), and U.S. BANK NATIONAL ASSOCIATION (“Lender”).

 

RECITALS

 

A.                                   Borrower and Lender entered into that certain
Amended and Restated Credit Agreement, dated as of November 19, 2007, as
amended by that certain First Amendment to Amended and Restated Credit
Agreement (the “Credit Agreement”), pursuant to which Lender agreed to extend
to Borrower certain credit facilities described therein. Capitalized terms used
and not otherwise defined herein shall have the meanings given them in the
Credit Agreement.

 

B.                                     Borrower has requested Lender’s consent to a
subordinate loan (the “Subordinate Loan”) from Proficio Bank to Borrower in the
principal amount of Three Million Dollars, to be evidenced by a promissory note
made by Borrower and payable to the order of Proficio Bank (the “Subordinate
Note”). The proceeds of the Subordinate Loan will be used to pay all amounts
outstanding under the Questar Note.

 

C.                                     Borrower and Lender desire to amend the
Credit Agreement to provide for the Subordinate Loan, to reflect the payment in
full of the Questar Note, and to change certain other terms and provisions
thereof, all on and subject to the terms and conditions set forth herein.

 

	
   

  	
   

  	
  NOW, THEREFORE, Borrower
  and Lender hereby agree as follows:

  
	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  CONDITIONS
  TO LENDER’S OBLIGATIONS. The following are conditions precedent to the
  obligations of Lender 

  
	
  hereunder:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.1

  	
   

  	
  Borrower shall have
  reimbursed Lender’s costs and expenses incurred in connection with this
  Amendment and the transactions contemplated hereby, including, without
  limitation, attorneys’ fees, and documentation costs and charges, whether
  such services are furnished by Lender’s employees or agents or by independent
  contractors;

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.2

  	
   

  	
  All payments due and owing
  to Lender under the Loan Documents shall have been paid current as of the
  effective date of this Agreement;

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.3

  	
   

  	
  Lender and/or Lender’s
  counsel shall be satisfied with the form of all documents to be executed by
  Borrower in connection with the Subordinate Loan;

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.4

  	
   

  	
  The proceeds of the  Subordinate
  Loan shall have been disbursed and the Questar Note shall have been paid in
  full; and

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.5

  	
   

  	
  Borrower shall have
  delivered to Lender duly executed copies of all documents required by Lender
  in connection with this Amendment, including but not limited to a
  Subordination and Standstill Agreement, in form and substance approved by
  Lender and/or Lender’s counsel, executed by Proficio Bank.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  AMENDMENTS.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.1

  	
   

  	
  The definitions of
  “Questar” and “Questar Note” in Article 1 of the Credit Agreement are hereby
  deleted in their entirety.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.2

  	
   

  	
  The following definitions
  are hereby added to Article 1  of the Credit Agreement:

  

 

 

	
   

  	
   

  	
   

  	
   

  	
  “Subordinate Note”
  – means that certain promissory note, of even date herewith, executed by
  Borrower and payable to the order of Proficio Bank in the original principal
  amount of Three Million Dollars ($3,000,000.00).

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.3

  	
   

  	
  All references in the
  Credit Agreement to the Questar Note are hereby amended to refer to the
  Subordinate Note.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.4

  	
   

  	
  Section 6.9 of the Credit
  Agreement is hereby deleted in its entirety and the following substituted
  therefor:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  All notes and loans from
  shareholders of Borrower shall be subordinate to the Obligations. Lender will
  permit Borrower to make payments thereunder provided that no Default or
  Unmatured Default shall have occurred and be continuing or shall exist.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  2.5

  	
   

  	
  The document numbered 1.15
  of the Loan Documents described on Exhibit A attached to the Credit Agreement
  is hereby deleted and the following substituted therefor:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Subordination and
  Standstill Agreement, dated as of May 21, 2008, executed by and between
  Lender and Proficio Bank.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  BORROWER
  REPRESENTATIONS AND WARRANTIES.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  3.1

  	
   

  	
  Borrower hereby represents
  and warrants that no Default, or event or condition which. with the giving of
  notice or the passage of time or both, would constitute a Default, under any
  of the Loan Documents has occurred and is continuing, and that all
  representations and warranties herein and in the other Loan Documents are
  true and correct, which representations and warranties shall survive
  execution of this Amendment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  3.2

  	
   

  	
  Borrower hereby certifies
  that the organizational documents of Borrower previously delivered to Lender
  are in full force and effect and have not been amended or modified.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  MISCELLANEOUS.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.1

  	
   

  	
  Confirmation of Credit
  Agreement and other Loan Documents. Borrower hereby affirms and agrees to be bound by all of the terms
  of the Credit Agreement, as amended hereby, and the other Loan Documents.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.2

  	
   

  	
  Non-Impairment. Except as expressly provided herein,
  nothing in this Amendment shall alter or affect any provision, condition, or
  covenant contained in the Credit Agreement or any other Loan Document or
  affect or impair any rights, powers, or remedies of Lender, it being the
  intent of the parties that, except as amended hereby, all of the terms,
  covenants and conditions of the Credit Agreement and the other Loan Documents
  shall remain in full force and effect.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.3

  	
   

  	
  Entire Agreement. This Amendment constitutes the entire
  agreement among the parties - hereto with respect to the subject matter
  hereof.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.4

  	
   

  	
  Governing Law. This Amendment shall be governed by and
  construed in accordance with the laws of the State of Utah.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4.5

  	
   

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

  

 

2

 

IN WITNESS WHEREOF, Borrower and Lender have
executed this Agreement as of the date appearing on the first page of this
Agreement.

 

	
   

  	
  “LENDER”

  
	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL
  ASSOCIATION,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Nicholas Hintze

  
	
   

  	
   

  	
  Name: Nicholas Hintze

  
	
   

  	
   

  	
  Title: AVP Assistant Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  “BORROWER”

  
	
   

  	
   

  
	
   

  	
  CONSONUS ACQUISITION
  CORP.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Daniel Milburn, Chief Operations Officer

  

 

3

 

IN WITNESS WHEREOF, Borrower and Lender have
executed this Agreement as of the date appearing on the first page of this
Agreement.

 

	
   

  	
  “LENDER”

  
	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL
  ASSOCIATION,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  “BORROWER”

  
	
   

  	
   

  
	
   

  	
  CONSONUS ACQUISITION
  CORP.,

  
	
   

  	
  a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert C. Muir

  
	
   

  	
   

  	
  Robert C. Muir

  
	
   

  	
   

  	
  CFO

  

 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00143-of-00352.parquet"}]]