Document:

EXHIBIT
10.6

     

    FIRST AMENDMENT TO CREDIT
AND GUARANTY AGREEMENT

     

    THIS FIRST AMENDMENT TO CREDIT AND
GUARANTY AGREEMENT (hereinafter referred to as this "First Amendment") is
made as of the 30th day of
April, 2008, by and among

     

    BEL FUSE INC., a corporation
duly organized, validly existing and in good standing under the laws of the
State of New Jersey, having an address located at 206 Van Vorst Street, Jersey
City, New Jersey 07302 (hereinafter referred to as the "Borrower").

     

    AND

     

    BEL VENTURES INC., a
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware, having an address located at c/o Bel Fuse Inc., 206
Van Vorst Street, Jersey City, New Jersey 07302 (hereinafter referred to as
"Bel
Ventures").

     

    AND

     

    BEL POWER INC., a corporation duly
organized, validly existing and in good standing under the laws of the State of
Massachusetts, having an address located at c/o Bel Fuse Inc.. 206 Van Vorst
Street, Jersey City, New Jersey 07302 (hereinafter referred to as "Bel
Power"),

     

    AND

     

    BEL TRANSFORMER INC., a
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware, having an address located at c/o Bel Fuse Inc.. 206
Van Vorst Street, Jersey City, New Jersey 07302 (hereinafter referred to as
"Bel
Transformer").

     

    AND

     

    BEL CONNECTOR INC., a
corporation duly organized. validly existing and in good standing under the laws
of the State of Delaware, having an address located at c/o Bel Fuse Inc.. 206
Van Vorst Street, Jersey City, New Jersey 07302 (hereinafter referred to as
"Bel Connector"
and hereinafter, Bel Ventures, Bel Power, Bel Transformer, and Bel
Connector shall be collectively referred to as the "Guarantors")

     

    AND

     

    BANK OF AMERICA, NATIONAL
ASSOCIATION. a national banking association duly organized and validly
existing under the laws of the United States of America, having an office
located at 750 Walnut Avenue, Cranford, New Jersey 07016 (hereinafter referred
to as the "Lender").

     

    WITNESSETH:

     

    WHEREAS,
pursuant to
the terms, conditions, and provisions of that certain Credit and Guaranty
Agreement
dated February 12, 2007, executed by and among the Borrower, the Lender. Bel
Power Products Inc., a Delaware corporation (hereinafter referred to as
"Bel
Power Products"). and the Guarantors (hereinafter
referred to as the "Loan
Agreement"), (i) the Lender made
available to the Borrower an unsecured
revolving credit loan facility in the maximum principal amount of up to
Twenty Million and
00/100 ($20,000,000.00) Dollars for working capital purposes, capital
expenditures, and other lawful corporate purposes of the Borrower (hereinafter
referred to as the "Revolving,.Credit
Facility") and (ii)
each Guarantor and Bel Power Products, as an original guarantor, absolutely.
irrevocably and unconditionally guarantied the full and prompt payment when due
(whether at stated maturity, by acceleration or otherwise) of the “Borrower
Obligations”. (as such
term is defined in the Loan Agreement); and

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    WHEREAS, the Revolving Credit
Facility is evidenced by that certain Revolving Credit Loan Note dated February
12, 2007, executed by the Borrower, as maker, in favor of the Lender, as payee
(hereinafter referred to as
the "Revolving
Credit Loan Note"), in the maximum principal amount of up to
$20,000,000.00; and

     

    WHEREAS, Bel Power Products
has merged with and into Bel Power, with Bel Power being the surviving entity,
as evidenced by (i) those certain Articles of Merger Involving Domestic
Corporations, Foreign Corporations or Foreign Other Entities dated July 6, 2006
and filed with the Office of the Secretary of the Commonwealth of Massachusetts
on September 1, 2006 and ( ii) that certain Certificate of Merger dated January
10, 2008 and filed with the Secretary of State of the State of Delaware on
January 22, 2008; and

     

    WHEREAS, the Borrower, the
Guarantors, and the Lender have agreed to amend the Loan Agreement pursuant to
the terms, conditions, and provisions of this First Amendment for the purposes
more fully set forth and described herein; and

     

    WHEREAS, defined terms used
but not expressly defined herein shall have the same meanings when used herein
as set forth in the Loan Agreement.

     

    NOW, THEREFORE, intending to
be legally bound hereby the Borrower, the Guarantors, and the Lender hereby
promise, covenant, and agree as follows:

     

    I.             Loan
Agreement. The Loan Agreement is amended and modified by this First
Amendment as follows:

     

    The
existing definition of "Combined Current Ratio-
in Section 1.1
of the Loan Agreement is hereby deleted in its entirety and the following
new material is hereby inserted in its place and stead:

     

    "Intentionally
Deleted,"

     

    The
existing definition of "Consolidated Net Worth"
in Section 1.1
of the Loan Agreement is hereby deleted in its entirety and the following
new material is hereby inserted in its place and stead:

     

    "Intentionally
Deleted."

     

    (iii) The
existing definition of "Loan Documents" in Section 1.1 of the
Loan Agreement is hereby deleted in its entirety and the following new
definition of "Loan Documents" is hereby inserted in its place and
stead:

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    "Loan Documents"
means, collectively, this Agreement, the Note, the First Amendment, each
Secured Hedging Agreement and all other agreements, instruments and documents
executed or delivered in connection herewith."

     

    (iv)         The
existing definition of "Revolving Maturity Date"
in Section
1.1 of the Loan Agreement is hereby deleted in its entirety and the
following new definition of "Revolving Maturity
Date" is
hereby inserted in its place and stead:

     

    ""Revolving Maturity Date"
means June 30, 2011, or such earlier date on which the Revolving Loans
shall become due and payable, whether by acceleration or
otherwise."

     

    (v)          The
following new definitions are hereby inserted into Section 1.1 of the
Loan Agreement in their respective proper places:

     

    ""Consolidated Tangible Net
Worth" means, at any date of determination, the sum of (i) all amounts
which would be included under "stockholder's equity" or any analogous entry on a
consolidated balance sheet of the Borrower and the Subsidiaries determined in
accordance with GAAP as of such date, minus (ii) all
intangible assets (i.e., such assets that are considered to be intangible assets
under GAAP, including, without limitation, customer lists, goodwill, computer
software, copyrights, trade names, trademarks, patents. franchises, licenses,
unamortized deferred charges. unamortized debt discount, and capitalized
research and development costs) of the Borrower and the Subsidiaries determined
in accordance with GAAP as of such date of determination, plus (iii) to the
extent deducted from such stockholder's equity, the aggregate amount (not to
exceed $60.000,000.00 in the aggregate) of stock repurchases made by the
Borrower pursuant to Section 7.7(d)
hereof."

     

    “”First Amendment"
shall mean that certain First Amendment to Credit and Guaranty Agreement dated
as of April 30, 2008 executed by and among the Borrower, the Lender, and the
then current Subsidiary Guarantors as of the date of such First Amendment to
Credit and Guaranty Agreement, pursuant to which the parties thereto amended and
modified the terms, conditions, and provisions of this Agreement."

     

    (vi)         Section 7.4(e) of the
Loan Agreement is hereby deleted in its entirety and the following new Section 7.4(e) is
hereby inserted in its place and stead:

     

    "(e)
other Investments in marketable securities (other than Cash Equivalents) in an
amount not in excess of 10% of Consolidated Tangible Net Worth; provided, however,
that after giving effect to any Investment described in this Section 7.4(e),
Margin Stock shall constitute less than 25% of the consolidated assets
(as determined by any reasonable method) of the Borrower and the
Subsidiaries;".

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (vii)             Section 7.14(a) of
the Loan Agreement is hereby deleted in its entirety and the following new Section 7.14(a) is
hereby inserted in its place and stead:

     

    "(a)
Minimum Consolidated Tangible
Net Worth. The Borrower shall not permit its Consolidated Tangible Net
Worth to be less than, as of the last day of any fiscal quarter, an amount equal
to $190,000,000.00 plus the sum for each fiscal quarter ending after December
31, 2007 of 50% of the net income, if positive, of the Borrower and its
Subsidiaries on a consolidated basis for each such fiscal quarter plus an amount equal
to 75% of the net proceeds of any issuance of equity by the
Borrower."

     

    (viii)             Section 7.14(d) of
the Loan Agreement is hereby deleted in its entirety and the following new Section 7.14(d) is
hereby inserted in its place and stead:

     

    "Intentionally
Deleted."

     

    (ix)    
       Any and all references to the
"Loan Agreement" shall he amended and modified to refer to the Loan Agreement as
amended and modified by this First Amendment.

     

    2.            Remaking
of Representations and Warranties. All representations and warranties
contained in the Loan Agreement, as amended and modified by this First
Amendment. and all of the other Loan Documents, are true, accurate, and complete
as of the date hereof and shall be deemed continuing representations and
warranties so long as the Revolving Credit Facility shall remain
outstanding.

     

    3.            No
Amendment of Other Terms. All other terms and conditions of the Loan
Agreement, as amended and modified by this First Amendment, the Revolving Credit
Loan Note, and all of the other Loan Documents remain in full force and effect,
except as amended and modified herein, and the parties hereto hereby expressly
confirm and reaffirm all of their respective liabilities, obligations, duties
and responsibilities under and pursuant to the Loan Agreement, the Revolving
Credit Loan Note, and all of the other Loan Documents.

     

    4.           Further
Agreements and Representations. The Borrower and the (Guarantors do
hereby (i) ratify, confirm and acknowledge that the Loan Agreement, as amended
and modified by this First Amendment, the Revolving Credit Loan Note, and all
other Loan Documents continue to be valid, binding and in full force and effect:
(ii) acknowledge and agree that. as of the date hereof, the Borrower has no
defense, set-off, counterclaim or challenge against the payment of any sums due
and owing to the Lender or the enforcement of any of the terms of the Loan
Agreement and/or any of the other Loan Documents: (iii) acknowledge and agree that all representations
and warranties of the Borrower and the Guarantors contained in the Loan
Agreement and the other Loan Documents are true, accurate and correct as of the
date hereof as if made on and as of the date hereof, except to the extent any
such representation or warranty is by its terms limited to a certain date or
dates in which case it remains true, accurate and correct as of such date or
dates and that none of the corporate documents of the Borrower or the Guarantors have been
materially amended, modified or supplemented since the date of the execution and
delivery of the Loan Agreement; and (iv) represent and warrant that the Borrower
and the Guarantors have taken all necessary action required by law and by their
respective corporate governing documents to execute and deliver this First
Amendment and that such execution and delivery constitutes the legal and validly
binding action of such entities.

     

    5.          No
Novation. It
is the intention of the parties hereto that this First Amendment shall not
constitute a novation.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    6.           Additional
Documents: Further Assurances. The Borrower and the Guarantors hereby
covenant and agree to execute and deliver to the Lender, or to cause to be
executed and delivered to the Lender contemporaneously herewith, at their sole
cost and expense, any other documents, agreements, statements, resolutions,
certificates, opinions, consents, searches and information as the Lender may
reasonably request in connection with the matters or actions described herein.
The Borrower and the Guarantors hereby further covenant and agree to execute and
deliver to the Lender, or to use reasonable efforts to cause to be executed and
delivered to the Lender, at their sole cost and expense, from time to time, any
and all other documents, agreements, statements, certificates and information as
the Lender shall reasonably request to evidence or effect the terms of the Loan
Agreement, and/or any of the other Loan Documents. All such documents,
agreements, statements, etc., shall he in form and content reasonably acceptable
to the Lender.

     

    7.           Fees,
Costs, Expenses and Expenditures. The Borrower shall pay all of the
Lender's reasonable expenses in connection with this First Amendment, including,
without limitation, reasonable fees and disbursements of Lender's legal
counsel.

     

    8.          No
Waiver. Nothing contained herein constitutes an agreement
or obligation by
the Lender to grant any further amendments to any of the Loan Documents, as
amended and modified hereby, and nothing contained herein constitutes a waiver
or release by the Lender of any rights or remedies available to the Lender under
the Loan Documents, as amended and modified hereby, at law or in
equity.

     

    9.          Binding
Effect; Governing Law. This First Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors
and/or assigns. This First Amendment shall he governed by and construed in
accordance with the laws of the State of New Jersey.

     

    10.        Counterparts.
This First Amendment may be executed by one or more of the parties to
this First Amendment in any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.

     

    (REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK)

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, the
Lender, the Borrower, and the Guarantors have duly executed and delivered this
First Amendment, all as of the day and year first written above.

     

    
      
        
          
            
              
                
                  
                    	
                            BORROWER:

                          
	 
      
	
                            BEL FUSE INC., a New
      Jersey corporation

                          
	 
      
	
                            By:

                          	 
      
	 
      	
                            Colin
      Dunn

                          
	 
      	
                            Vice
      President

                          
	 
      	 
      
	
                            GUARANTORS:

                          
	 
      
	
                            BEL VENTURES INC., a
      Delaware corporation

                          
	 
      
	
                            BEL POWER INC., a
      Massachusetts corporation

                          
	 
      
	
                            BEL TRANSFORMER INC., a
      Delaware corporation

                          
	 
      
	
                            BEL CONNECTOR INC., a
      Delaware corporation

                          
	 
      
	
                            AS
      TO EACH OF THE FOREGOING:

                          
	 
      	 
      
	
                            By:

                          	 
      
	 
      	
                            Colin
      Dunn

                          
	 
      	
                            Vice
      President of each of the above-referenced corporations

                          
	 
      	 
      
	
                            LENDER:

                          
	 
      
	
                            BANK
      OF AMERICA, N.A.

                          
	 
      
	
                            By:

                          	 
      
	 
      	
                            David
      J. Bard il

                          
	 
      	
                            Senior
      Vice
President

                          

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        6EXHIBIT
10.7

     

    SECOND AMENDMENT TO CREDIT
AND GUARANTY AGREEMENT

     

    THIS SECOND AMENDMENT TO CREDIT AND
GUARANTY AGREEMENT (hereinafter referred to as this "Second Amendment")
is made as of the 30th day of
June, 2009, by and among

     

    BEL FUSE INC., a corporation
duly organized, validly existing and in good standing under the laws of the
State of New Jersey, having an address located at 206 Van Vorst Street, Jersey
City, New Jersey 07302 (hereinafter referred to as the "Borrower"),

     

    AND

     

    BEL VENTURES INC., a
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware, having an address located at c/o Bel Fuse Inc., 206
Van Vorst Street, Jersey City, New Jersey 07302 (hereinafter referred to as
"Bel
Ventures"),

     

    AND

     

    BEL POWER INC., a corporation
duly organized, validly existing and in good standing under the laws of the
State of Massachusetts, having an address located at c/o Bel Fuse Inc., 206 Van
Vorst Street, Jersey City, New Jersey 07302 (hereinafter referred to as "Bel
Power"),

     

    AND

     

    BEL TRANSFORMER INC., a
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware, having an address located at c/o Bel Fuse Inc., 206
Van Vorst Street, Jersey City, New Jersey 07302 (hereinafter referred to as
"Bel
Transformer").

     

    AND

     

    BEL CONNECTOR INC., a
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware, having an address located at c/o Bel Fuse Inc., 206
Van Vorst Street, Jersey City, New Jersey 07302 (hereinafter referred to as
"Bel Connector"
and hereinafter, Bel Ventures, Bel Power, Bel Transformer, and Bel
Connector shall be collectively referred to as the "Guarantors")

     

    AND

     

    BANK OF AMERICA, NATIONAL
ASSOCIATION, a national banking association duly organized and validly
existing under the laws of the United States of America, having an office
located at 750 Walnut Avenue, Cranford, New Jersey 07016 (hereinafter referred
to as the "Lender").

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    WITNESSETH:

     

    WHEREAS, pursuant to the
terms, conditions, and provisions of that certain Credit and Guaranty Agreement
dated February 12, 2007, executed by and among the Borrower, the Lender, Bel
Power Products Inc., a Delaware corporation (hereinafter referred to as "Bel Power Products"),
and the Guarantors (hereinafter referred to as the "Original Loan Agreement"),
(i) the Lender made available to the Borrower an unsecured revolving
credit loan facility in the maximum principal amount of up to Twenty Million and
00/100 ($20,000,000.00) Dollars for working capital purposes, capital
expenditures, and other lawful corporate purposes of the Borrower (hereinafter
referred to as the "Revolving Credit Facility")
and (ii) each Guarantor and Bel Power Products, as an original guarantor,
absolutely, irrevocably and unconditionally guarantied the full and prompt
payment when due (whether at stated maturity, by acceleration or otherwise) of
the "Borrower Obligations" (as such term is defined in the Original Loan
Agreement); and

     

    WHEREAS, the Revolving Credit
Facility is evidenced by that certain Revolving Credit Loan Note dated February
12, 2007, executed by the Borrower, as maker, in favor of the Lender, as payee
(hereinafter referred to as the "Revolving Credit Loan
Note"), in the maximum principal amount of up to $20,000,000.00;
and

     

    WHEREAS, Bel Power Products
has merged with and into Bel Power, with Bel Power being the surviving entity,
as evidenced by (i) those certain Articles of Merger Involving Domestic
Corporations, Foreign Corporations or Foreign Other Entities dated July 6, 2006
and filed with the Office of the Secretary of the Commonwealth of Massachusetts
on September 1, 2006 and (ii) that certain Certificate of Merger dated January
10, 2008 and filed with the Secretary of State of the State of Delaware on
January 22, 2008; and

     

    WHEREAS, pursuant to the
terms, conditions, and provisions of that certain First Amendment to Credit and
Guaranty Agreement dated as of April 30, 2008, executed by and among the Lender,
the Borrower, and the Guarantors (hereinafter referred to as the "First Amendment"),
the Borrower, the Guarantors, and the Lender amended the Original Loan
Agreement for the purposes more fully set forth and described therein
(hereinafter the Original Loan Agreement, as amended and modified by the First
Amendment, shall he referred to as the "Loan Agreement");
and

     

    WHEREAS, the Borrower, the
Guarantors, and the Lender have agreed to further amend and modify the terms,
conditions, and provisions of the Loan Agreement pursuant to the terms,
conditions, and provisions of this Second Amendment for the purposes more fully
set forth and described herein; and

     

    WHEREAS, defined terms used
but not expressly defined herein shall have the same meanings when used herein
as set forth in the Loan Agreement.

     

    NOW, THEREFORE, intending to
be legally bound hereby the Borrower, the Guarantors, and the Lender hereby
promise, covenant, and agree as follows:

     

    1.            Loan
Agreement. The Loan Agreement is hereby amended and modified by this
Second Amendment as follows:

     

    (i)          The
existing definition of "Consolidated Fixed Charge
Ratio" in Section 1.1 of the
Loan Agreement is hereby deleted in its entirety and the following new
definition is hereby inserted in its place and stead:

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      EXHIBIT
10.7

       

    

    "Consolidated Fixed Charge
Ratio" means, as of the last day of each fiscal quarter, the ratio of (i)
Consolidated EBITDA plus unrestricted and
unencumbered cash and Cash Equivalents in excess of $20,000,000.00 in the
aggregate held in the United States of America in the name of the Borrower or
any of its Domestic Subsidiaries -to- (ii) Consolidated Fixed Charges, in each
case the Four Quarter Trailing Period."

     

    (ii)             The
existing definition of "Loan Documents" in Section 1.1 of the
Loan Agreement is hereby deleted in its entirety and the following new
definition of "Loan Documents" is hereby inserted in its place and
stead:

     

    ""Loan Documents"
means, collectively, this Agreement, the Note, the First Amendment, the
Second Amendment, each Secured Hedging Agreement and all other agreements,
instruments and documents executed or delivered in connection
herewith."

     

    (iii)             The
following new definition is hereby inserted into Section 1.1 of the
Loan Agreement in its proper place:

     

    ""Second Amendment"
shall mean that certain Second Amendment to Credit and Guaranty Agreement
dated as of June 30, 2009 executed by and among the Borrower, the Lender, and
the then current Subsidiary Guarantors as of the date of such Second Amendment
to Credit and Guaranty Agreement, pursuant to which the parties thereto amended
and modified the terms, conditions, and provisions of this
Agreement."

     

    (iv)             Section 6.1(f) of the
Loan Agreement is hereby deleted in its entirety and the following new Sections 6.1(f) and (g)
are hereby inserted in its place and stead:

     

    “(f)
concurrently with any delivery of financial statements under subsections (a) or (b)
above, a report of cash and Cash Equivalents as of the end of the
relevant quarterly or annual period, in form and substance reasonably acceptable
to the Lender; and

     

    (g)
promptly following any request therefor, such other information regarding the
Borrower or any Subsidiary, or compliance with the terms of this Agreement, as
the Lender may reasonably request."

     

    (v)            Any
and all references to the "Loan Agreement" shall be amended and modified to
refer to the Loan Agreement as amended and modified by this Second
Amendment.

     

    2. Remaking
of Representations and Warranties. All representations and warranties
contained in the Loan Agreement, as amended and modified by this Second
Amendment, and all of the other Loan Documents, are true, accurate, and complete
as of the date hereof and shall be deemed continuing representations and
warranties so long as the Revolving Credit Facility shall remain
outstanding.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
       

      EXHIBIT
10.7

       

    

    3.           No
Amendment of Other Terms. All other terms and conditions of the Loan
Agreement, as amended and modified by this Second Amendment, the Revolving
Credit Loan Note, and all of the other Loan Documents remain in full force and
effect, except as amended and modified herein, and the parties hereto hereby
expressly confirm and reaffirm all of their respective liabilities, obligations,
duties and responsibilities under and pursuant to the Loan Agreement, the
Revolving Credit Loan Note, and all of the other Loan Documents.

     

    4.           Further
Agreements and Representations. The Borrower and the Guarantors do hereby
(i) ratify, confirm and acknowledge that the Loan Agreement, as amended and
modified by this Second Amendment, the Revolving Credit Loan Note, and all other
Loan Documents continue to be valid, binding and in full force and effect; (ii)
acknowledge and agree that, as of the date hereof, the Borrower has no defense,
set-off, counterclaim or challenge against the payment of any sums due and owing
to the Lender or the enforcement of any of the terms of the Loan Agreement
and/or any of the other Loan Documents; (iii) acknowledge and agree that all
representations and warranties of the Borrower and the Guarantors contained in
the Loan Agreement and the other Loan Documents are true, accurate and correct
as of the date hereof as if made on and as of the date hereof, except to the
extent any such representation or warranty is by its terms limited to a certain
date or dates in which case it remains true, accurate and correct as of such
date or dates and that none of the corporate documents of the Borrower or the
Guarantors have been materially amended, modified or supplemented since the date
of the execution and delivery of the Loan Agreement; and (iv) represent and
warrant that the Borrower and the Guarantors have taken all necessary action
required by law and by their respective corporate governing documents to execute
and deliver this Second Amendment and that such execution and delivery
constitutes the legal and validly binding action of such entities.

     

    5.           No
Novation. It is the intention of the parties hereto that this Second
Amendment shall not constitute a novation.

     

    6.           Additional
Documents; Further Assurances. The Borrower and the Guarantors hereby
covenant and agree to execute and deliver to the Lender, or to cause to be
executed and delivered to the Lender contemporaneously herewith, at their sole
cost and expense, any other documents, agreements, statements, resolutions,
certificates, opinions, consents, searches and information as the Lender may
reasonably request in connection with the matters or actions described herein.
The Borrower and the Guarantors hereby further covenant and agree to execute and
deliver to the Lender, or to use reasonable efforts to cause to be executed and
delivered to the Lender, at their sole cost and expense, from time to time, any
and all other documents, agreements, statements, certificates and information as
the Lender shall reasonably request to evidence or effect the terms of the Loan
Agreement, and/or any of the other Loan Documents. All such documents,
agreements, statements, etc., shall be in form and content reasonably acceptable
to the Lender.

     

    7.          Fees,
Costs, Expenses and Expenditures. The Borrower shall pay all of the
Lender's reasonable expenses in connection with this Second Amendment,
including, without limitation, reasonable fees and disbursements of Lender's
legal counsel.

     

    8.          No
Waiver. Nothing contained herein constitutes an agreement or obligation
by the Lender to grant any further amendments to any of the Loan Documents, as
amended and modified hereby, and nothing contained herein constitutes a waiver
or release by the Lender of any rights or remedies available to the Lender under
the Loan Documents, as amended and modified hereby, at law or in
equity.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      EXHIBIT
10.7

       

    

     9.
Binding
Effect; Governing Law. This Second Amendment shall be binding upon and
inure to the benefit of the parties hereto and their respective successors
and/or assigns. This Second Amendment shall be governed by and construed in
accordance with the laws of the State of New Jersey.

     

     10.
Counterparts.
This Second Amendment may be executed by one or more of the parties to
this Second Amendment in any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.

     

    (REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK)

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      EXHIBIT
10.7

       

    

    IN WITNESS WHEREOF, the
Lender, the Borrower, and the Guarantors have duly executed and delivered this
Second Amendment, all as of the day and year first written above.

    

    
      
        
          
            
              
                
                  
                    	 
      	
                            BORROWER:

                          
	 
      	 
      
	 
      	
                            BEL FUSE INC., a New
      Jersey corporation

                          
	 
      	 
      	 
      
	 
      	
                            By:

                          	 	
                                

                          
	 
      	 
      	
                            Colin
      Dunn

                          
	 
      	 
      	
                            Vice
      President

                          
	 
      	 
      
	 
      	
                            GUARANTORS:

                          
	 	 
	 
      	
                            BEL VENTURES INC., a
      Delaware corporation

                          
	 
      	 
      
	 
      	
                            BEL POWER INC., a
      Massachusetts corporation

                          
	 
      	 
      
	 
      	
                            BEL TRANSFORMER INC., a
      Delaware corporation

                          
	 
      	 
      
	 
      	
                            BEL CONNECTOR INC., a
      Delaware corporation

                          
	 
      	 
      
	 
      	
                            AS
      TO EACH OF THE FOREGOING:

                          
	 
      	 
      
	 
      	
                            By:

                          	 	
                                

                          
	 
      	 
      	
                            Colin
      Dunn

                          
	 
      	 
      	
                            Vice
      President of each of the above-referenced

                          
	 
      	 
      	
                            corporations

                          

                  

                

              

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
       

      EXHIBIT
10.7

       

    

    
      
        
          
            	 
      	
                    LENDER:

                  
	 
      	 
      
	 
      	
                    BANK
      OF AMERICA, N.A.

                  
	 
      	 
      
	 
      	
                    By:

                  	 	
                        

                  
	 
      	 
      	
                    Name:

                  
	 
      	 
      	
                    Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]