Document:

Exhibit 10.133

 

AMENDED
AND RESTATED REIMBURSEMENT AGREEMENT

 

THIS
AMENDED AND RESTATED REIMBURSEMENT AGREEMENT (this “Agreement”), dated
as of March 17, 2004, is made by and between THERMOVIEW INDUSTRIES, INC., a
Delaware corporation (“ThermoView”), each of its subsidiaries party
hereto (together with ThermoView, the “Borrowers”), and GE CAPITAL
EQUITY INVESTMENTS, INC., a Delaware corporation (the “Indemnitor”).

 

RECITALS

 

A.            The Borrowers posted, with
Westchester Fire Insurance Company as a surety (the “Surety”), a
Supersedeas Bond in the amount of $690,000 (the “Appeal Bond”) in
connection with the appeal in Thermoview Industries, Inc. v. Clemmens, Case
No. 2003-CA-1043 (including any subsequent appeals).

 

B.            The Indemnitor agreed to indemnify
the Surety for all losses and expenses in respect of the Appeal Bond.

 

C.            In consideration for the
Indemnitor’s agreement to indemnify the Surety in respect of the Appeal Bond,
the Indemnitor requested, and the Borrowers agreed, pursuant to that certain
Reimbursement Agreement dated as of June 30, 2003 among the parties hereto (the
“Original Reimbursement Agreement”), to reimburse the Indemnitor for any
payments made by the Indemnitor to the Surety in respect of the Appeal Bond.

 

D.            The Borrowers have requested certain
amendments to the Original Reimbursement Agreement as more particularly
described herein.

 

E.             The Indemnitor is willing to amend
the Original Reimbursement Agreement as more particularly described herein and
the parties hereto have agreed to amend and restate the Original Reimbursement
Agreement to provide for such amendments on the terms set forth in this
Agreement.

 

F.             It is the intent of the parties
that this Agreement not constitute a novation or waiver of the obligations and
liabilities existing under the Original Reimbursement Agreement, including any
obligation or action required to be performed prior to the date hereof, or
evidence payment of all or any of such obligations and liabilities, but that
this Agreement amend and restate in its entirety the Original Reimbursement
Agreement, and that from and after the date hereof, the Original Reimbursement
Agreement be of no further force or effect except as to evidence the incurrence
of the obligations of the Borrowers thereunder and the representations and
warranties made thereunder.  It is also
the intent of the parties that all of the obligations of the Borrowers under
the Original Reimbursement Agreement continue in all respects (as amended
hereby), with the terms thereof being modified to the extent provided herein
and that the liens and security interests as granted under the security
agreement securing payment of such obligations are in all respects continuing
and in full force and effect and secure the payment of such obligations.

 

NOW,
THEREFORE, in consideration of the foregoing and the undertakings herein set
forth and intending to be legally bound, the Borrowers and the Indemnitor
hereby agree as follows:

 

1

 

ARTICLE I

 

APPEAL BOND; INDEMNIFICATION;
REIMBURSEMENT.

 

Section 1.1.            Indemnification
of Surety.  Subject to the execution
and delivery of this Agreement by the parties hereto and the satisfaction by
the Borrowers of the requirements of this Agreement, the Indemnitor has agreed
to indemnify the Surety with respect to any losses or expenses suffered by the
Surety in connection with the Appeal Bond.

 

Section 1.2.            Reimbursements.

 

(a)           Principal.  The Borrowers hereby unconditionally
covenant and agree to reimburse and/or pay to the Indemnitor all amounts which
the Indemnitor shall have paid to the Surety pursuant to any payments under the
Appeal Bond on the day immediately following the date of any such payment
(each, a “Repayment Date”).

 

(b)           Interest.  The Borrowers hereby unconditionally covenant
and agree to pay to the Indemnitor interest on any and all amounts owing to the
Indemnitor and remaining unpaid by the Borrowers under clause (a) above, from
and including the applicable Repayment Date, to but not including the date of
payment in full thereof, at a rate of interest equal to 12% per annum.  Amounts payable under this Section 1.02(b)
shall be payable at any time and from time to time on demand of the Indemnitor.

 

(c)           Renewal Fee.  On May 31 of each year, if, on such date,
the Appeal Bond shall continue to be posted and the Indemnitor shall continue
to agree to indemnify the Surety with respect to the Appeal Bond, the Borrowers
hereby unconditionally covenant and agree to pay to the Indemnitor a renewal
fee in the amount of two and one-half percent (2-1/2%) of the face amount of
the Appeal Bond then posted.

 

ARTICLE
II

 

SECURITY INTERESTS; EVENT
OF DEFAULT.

 

Section 2.1.            Affirmation of Security Interest.  To secure the obligations of the Borrowers
to make payments pursuant to Section 1.01 hereof (collectively, the “Reimbursement
Obligations”), the Borrowers hereby unconditionally affirm (a) that all of
the obligations of the Borrowers under the Original Reimbursement Agreement are
in all respects continuing (as amended hereby), with the terms thereof being
modified to the extent provided herein; and (b) that the liens and security
interests granted in favor of the Indemnitor pursuant to that certain Security
Agreement, dated as of August 31, 1998, as amended, among the Borrowers and the
lenders party thereto, securing payment of such obligations are in all respects
continuing and in full force and effect.

 

Section 2.2.            Establishment of Cash Account.  On the first day of each calendar month, the Borrowers shall
place cash in an account at Bankers Trust (Account No. 50-265-154) and in the
Indemnitor’s name (the “Cash Account”) in an amount equal to at least
(i) $50,000 for each month from (and including) July to December and (ii)
$30,000 for each month from (and including) January to June; provided that, as
of November 1, 2004, there shall be at least $690,000 available in the Cash
Account; provided further

 

2

 

that the Borrowers shall not
have any further obligation to place cash in the Cash Account if funds in the
Cash Account are more than the face amount of the Appeal Bond then posted.  The Borrowers hereby grant to the Indemnitor
a security interest in the Cash Account for the prompt and complete payment and
performance when due of all the obligations to the Indemnitor under this
Agreement, and the Indemnitor shall retain control (as defined in the Uniform
Commercial Code) of all funds therein until satisfaction in full of the
Borrowers’ obligations under this Agreement. 
The Borrowers agree that any amounts held in the Cash Account may be
applied against obligations of the Borrowers under this Agreement as the same
shall become due and payable.  Upon
satisfaction in full of the obligations under this Agreement, any remaining
amounts in the Cash Account will be used by the Borrowers to prepay the
obligations under the terms of that certain Loan Agreement, dated as of August
31, 1998 (the “Loan Agreement”), as amended from time to time, among the
Borrowers and the lenders party thereto, which prepayments shall be made in
accordance with the terms of the Loan Agreement and the related notes.

 

Section 2.3.            Default.  The following shall be “Events of Default”
for purposes of this Agreement: (i) failure by the Borrowers to pay any amount required to
be paid pursuant to Article I of this Agreement within two business days of the
date such amount becomes due and payable; (ii) failure of the Borrowers to pay
any other amount payable under this Agreement (including deposits to the Cash
Account in accordance with Section 2.02 within five business days of the date
such amount becomes due and payable; and (iii) failure by the Borrowers to
perform or comply with any other obligation under this Agreement which failure
is not cured within 30 days of notice by the Indemnitor.

 

Section 2.4.            Remedies.  The Indemnitor may, if an Event of Default has occurred and is
continuing, by written notice to the Borrowers: (i) declare the Borrowers’
obligations hereunder to be, whereupon the same shall become, immediately due
and payable; and (ii) exercise, or cause to be exercised, any and all such
remedies as it may have under this Agreement or at law or in equity, it being
understood and agreed that the Indemnitor shall exercise its remedies against
the Cash Account prior to exercising remedies with respect to any other
collateral of the Borrowers.

 

ARTICLE III

 

MISCELLANEOUS

 

Notices. 
All notices and other communications provided for hereunder shall be
sent in accordance with the notice provisions contained in that certain Securities
Purchase Agreement, dated as of July 9, 1999, as amended, between Thermoview
and the Indemnitor.

 

Section 3.1.            Successors
and Assigns.  This Agreement shall
inure to the benefit of and shall be binding upon the parties hereto and their
respective successors and assigns.  No
Borrower may assign its rights under this Agreement without the prior written
consent of the Indemnitor.  The
Borrowers and the Indemnitor intend that no person other than the parties
hereto and their successors and assigns as permitted hereunder shall have any
claim or interest under this Agreement or right of action hereon or hereunder.

 

3

 

Section 3.2.            Counterparts.  The execution hereof by each party hereto
shall constitute a contract between them for the uses and purposes herein set
forth, and this Agreement may be executed in any number of counterparts, with
each executed counterpart constituting an original and all counterparts
together constituting one agreement.

 

Section 3.3.            Amendments.  This Agreement may be amended only by an
instrument in writing executed and delivered by the Borrowers and the
Indemnitor.

 

Section 3.4.            Complete
Agreement.  Taken together with the
other instruments and documents delivered in compliance herewith, this
Agreement is a complete memorandum of the agreement of the Borrowers and the
Indemnitor.

 

Section 3.5.            Consent
to Jurisdiction; Venue; Waiver of Jury Trial.  The Borrowers hereby irrevocably (i) agree that any suit, action
or other legal proceeding arising out of or relating to this Agreement may be
brought in any federal or state court located in New York and consent to the
non-exclusive jurisdiction of such court in any such suit, action or
proceeding, (ii) to the extent allowed by law, waive any objection which they
may have to the laying of venue of any such suit, action or proceeding in any
such court and any claim that any such suit, action or proceeding has been
brought in an inconvenient forum.  The
Borrowers agree that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by applicable law.  THE PARTIES HERETO HEREBY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY
ACTION ARISING HEREUNDER OR UNDER THIS AGREEMENT.

 

Section 3.6.            Governing
Law.  This Agreement shall be
governed by, and construed in accordance with, the laws of the State of New
York (without reference to its principles of conflicts of law.

 

Section 3.7.            Further
Assurances.  The Borrowers will
execute and deliver such further instruments and perform such further acts as
may be requested by the Indemnitor from time to time to confirm the provisions
of this Agreement and/or to confirm the priority and/or perfection of any lien,
pledge, assignment or security interest created or intended to be created by
this Agreement in any property, rights or interests of the Applicant.  The Borrowers agrees to pay all reasonable
costs of any such acts required to be taken by the Borrowers hereunder
including without limitation the recording, filing and acknowledging of such
documents in such public offices as the Indemnitor may require.

 

IN WITNESS WHEREOF, the
Borrowers and the Indemnitor have caused this Reimbursement Agreement to be
duly executed and delivered as of the date first noted above.

 

	
   

  	
  GE CAPITAL EQUITY INVESTMENTS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

4

 

	
   

  	
  THERMOVIEW INDUSTRIES, INC.

  
	
   

  	
  AMERICAN HOME DEVELOPERS CO., INC.

  
	
   

  	
  FIVE STAR BUILDERS, INC.

  
	
   

  	
  KEY HOME CREDIT, INC.

  
	
   

  	
  KEY HOME MORTGAGE, INC.

  
	
   

  	
  LEINGANG SIDING AND WINDOW, INC.

  
	
   

  	
  PRIMAX WINDOW CO.

  
	
   

  	
  PRECISION WINDOW MFG., INC.

  
	
   

  	
  ROLOX, INC.

  
	
   

  	
  TD WINDOWS, INC.

  
	
   

  	
  THERMAL LINE WINDOWS, INC.

  
	
   

  	
  THERMOVIEW OF MISSOURI, INC.

  
	
   

  	
  THERMO-TILT WINDOW COMPANY

  
	
   

  	
  THOMAS CONSTRUCTION, INC.

  
	
   

  	
  THERMO-SHIELD OF AMERICA (ARIZONA), INC.

  
	
   

  	
  THERMO-SHIELD OF AMERICA (MICHIGAN), INC.

  
	
   

  	
  THERMO-SHIELD COMPANY, LLC

  
	
   

  	
  THERMO-SHIELD OF AMERICA(WISCONSIN), LLC

  
	
   

  	
  THERMOVIEW ADVERTISING GROUP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Charles L. Smith, President

  	
   

  

 

5Exhibit
10.134

 

TWELFTH AMENDMENT TO
LOAN AGREEMENT

 

TWELFTH AMENDMENT TO
LOAN AGREEMENT (this “Amendment”), dated as of March 17, 2004, by and among [i] THERMOVIEW INDUSTRIES, INC., a
Delaware corporation (“ThermoView”), [ii] AMERICAN HOME DEVELOPERS CO.,
INC., a California corporation (“American Home”), [iii] FIVE STAR
BUILDERS, INC.,  a California
corporation (“Five Star”), [iv] KEY HOME CREDIT, INC., a Delaware
corporation (“Key Home”), [v] KEY HOME MORTGAGE, INC., a Delaware
corporation (“Key Home Mortgage”), [vi] LEINGANG SIDING AND WINDOW,
INC., a North Dakota business corporation (“Leingang Siding”),  [vii] PRECISION WINDOW MFG., INC., a
Missouri corporation (“Precision”), [viii]  PRIMAX WINDOW CO., a Kentucky corporation (“Primax”),
[ix] ROLOX, INC., a Kansas corporation (“Rolox”), [x] TD WINDOWS,
INC., a Kentucky corporation (“TD Windows”), [xi] THERMAL LINE WINDOWS,
INC., a North Dakota corporation (“Thermal Line”), [xii] THERMOVIEW
OF MISSOURI, INC., a Missouri corporation (“ThermoView-Missouri”),
[xiii] THERMO-TILT WINDOW COMPANY, a Delaware corporation (“Thermo-Tilt”),
[xiv]THERMO-SHIELD OF AMERICA (ARIZONA), INC., an Arizona corporation (“Thermo-Shield
Arizona”), [xv] THERMO-SHIELD OF AMERICA (MICHIGAN), INC., a Michigan
corporation (“Thermo-Shield Michigan”), [xvi] THERMO-SHIELD COMPANY,
LLC, an Illinois limited liability company (“Thermo-Shield Company”),
[xvii] THERMO-SHIELD OF AMERICA (WISCONSIN), LLC, a Wisconsin limited liability
company (“Thermo-Shield Wisconsin”), [xviii] THERMOVIEW ADVERTISING
GROUP, INC., a Delaware corporation (“ThermoView Advertising”) and
[xix] THOMAS CONSTRUCTION, INC., a Missouri corporation (“Thomas
Construction”), (ThermoView, American Home, Five Star, Key Home, Key Home
Mortgage, Leingang Siding, Precision, Primax, Rolox, TD Windows, Thermal Line,
ThermoView-Missouri, Thermo-Tilt, Thermo-Shield Arizona, Thermo-Shield
Michigan, Thermo-Shield Company, Thermo-Shield Wisconsin, ThermoView
Advertising and Thomas Construction individually are referred to in this Agreement
as a “Borrower” and collectively, as the “Borrowers”) having an
address in care of ThermoView Industries, Inc., 5611 Fern Valley Road,
Louisville, Kentucky 40228 and [xx] GE CAPITAL EQUITY INVESTMENTS, INC., a
Delaware corporation (“GE Capital” or the “Series A Lender” or
the “Series C Lender”) and [xi] GE Capital as collateral agent, as
applicable (in such capacity, the “Collateral Agent”) and
[xii] Rodney H. Thomas, Charles L. Smith, Robert L. Cox, Robert L. Cox,
II, Stephen A. Hoffmann, Mitch M. Wexler, Stephen Townzen, Emerging Business
Solutions, LLC, Ronald L. Carmicle, Raymond C. Dauenhauer, J. Sherman
Henderson, III, Bruce C. Merrick, George T. Underhill, II and Daniel F. Dooley
(each, a “Series B Lender” and collectively, the “Series B Lenders”,
and together with the Series A Lender and the Series C Lender, the “Lenders”).

 

W I T N E S S E T
H:

 

A.            Pursuant
to that certain Assignment and Acceptance Agreement, dated as of March 22,
2001, the Lenders purchased loans made to the Borrowers pursuant to that
certain Loan Agreement dated as of August 31, 1998, as amended pursuant to (a)
that certain Joinder to Loan Documents and Amendment to Loan Documents (Thomas
Construction, Inc.) dated as of January 1, 1999, by and among certain of the
Borrowers and PNC Bank (“PNC”), (b) that certain Joinder to Loan
Documents and Amendment

 

1

 

to Loan Documents (Precision Window Mfg.,
Inc.) dated as of January 5, 1999, by and among certain of the Borrowers and
PNC, (c) that certain Joinder to Loan Documents and Amendment to Loan Documents
(Thermo-Shield) dated as of July 8, 1999, by and among certain of the Borrowers
and PNC, (d) that certain Amendment to Loan Agreement dated as of July 30,
1999, by and among certain of the Borrowers and PNC, (e) that certain Second
Amendment to Loan Agreement dated as of October 14, 1999, by and among certain
of the Borrowers and PNC, (f) that certain Third Amendment to Loan Agreement
dated as of November, 1999, by and among certain of the Borrowers and PNC, (g)
that certain Fourth Amendment to Loan Agreement and Amendment to Note and Term
Note dated as of November 10, 1999, by and among certain of the Borrowers and
PNC, (h) that certain Fifth Amendment to Loan Agreement and Amendment to Note
dated as of April 14, 2000, by and among the Borrowers and the PNC, (i) that
certain Sixth Amendment to Loan Agreement dated as of August 15, 2000, by and
among the Borrowers and PNC, (j) that certain Seventh Amendment to Loan
Agreement dated as of March 22, 2001, among the Borrowers and PNC, (k) that
certain Eighth Amendment and Amendment and Restatement of Note dated as of
March 22, 2001, among the Borrowers and the Lenders,  (l) that certain Ninth Amendment to Loan Agreement and Amendment
to Amended and Restated Promissory Notes among the Borrowers and the Lenders,
(m) that certain Tenth Amendment to Loan Agreement among the Borrowers and the
Lenders and (n) that certain Eleventh Amendment to the Loan Agreement dated as
of June 30, 2003, among the Borrowers and the Lenders (collectively, the “Loan
Agreement”; capitalized terms used herein and not defined shall have the
meanings assigned to such terms in the Loan Agreement).

 

B.            In
connection with the Loan Agreement, the Borrowers executed and delivered to (i)
the Series A Lender, the Amended and Restated Series A Promissory Note, (ii)
each Series B Lender, an Amended and Restated Series B Promissory Note and
(iii) the Series C Lender, the Amended and Restated Series C Promissory Note,
each dated March 22, 2001 (as amended, modified or supplemented from time to
time the “Notes” and together with the Loan Agreement, the “Loan
Documents”).

 

C.            The
Borrowers have requested amendments to the Loan Documents as more particularly
described in this Amendment.

 

D.            The
Lenders are willing to amend the Loan Documents as more particularly described
in this Amendment upon the condition, among others, that the Borrowers execute
and deliver this Amendment in favor of the Lenders.

 

NOW, THEREFORE, in consideration of the premises
and mutual covenants contained herein, the parties hereto agree as follows:

 

SECTION 1.  AMENDMENT TO THE LOAN AGREEMENT.  Effective as of the Effective Date (as
defined herein), the Loan Agreement is amended as follows:

 

1.1           By
amending and restating Section 4.I of the Loan Agreement as follows:

 

“[I] [1] 
Fixed Charge Coverage Ratio. 
(i) ThermoView will maintain, as of the last day of each calendar
quarter for the applicable period of measurement set forth below, a Fixed
Charge Coverage Ratio of not less than the following for such period:

 

2

 

	
  PERIOD/CALENDAR QUARTER

  	
   

  	
  FIXED
  CHARGE COVERAGE

  RATIO

  	
   

  
	
  Nine months ending on September 30, 2004

  	
   

  	
  1.00 to 1.00

  	
   

  
	
  Twelve months ending on December 31, 2004

  	
   

  	
  1.00 to 1.00

  	
   

  
	
  Twelve months ending as of the end of each calendar quarter
  thereafter

  	
   

  	
  1.00 to 1.00

  	
   

  

 

[2]  Minimum
EBITDA.  ThermoView shall have, as
of the last day of each calendar quarter for the applicable period of
measurement set forth below, EBITDA of not less than the following for such
period:

 

	
  PERIOD/CALENDAR QUARTER

  	
   

  	
  MINIMUM EBITDA

  	
   

  
	
  Six months ending on June 30, 2004

  	
   

  	
  $

  	
  800,000

  	
   

  
	
  Nine months ending on September 30, 2004

  	
   

  	
  $

  	
  2,000,000

  	
   

  
	
  Twelve months ending on December 31, 2004

  	
   

  	
  $

  	
  3,000,000

  	
   

  
	
  Twelve months ending on March 31, 2005

  	
   

  	
  $

  	
  3,120,000

  	
   

  
	
  Twelve months ending on June 30, 2005

  	
   

  	
  $

  	
  3,440,000

  	
   

  
	
  Twelve months ending on September 30, 2005

  	
   

  	
  $

  	
  3,850,000

  	
   

  
	
  Twelve months ending on December 31, 2005

  	
   

  	
  $

  	
  3,800,000

  	
   

  
	
  Twelve months ending on March 31, 2006

  	
   

  	
  $

  	
  4,070,000

  	
   

  
	
  Twelve months ending on June 30, 2006

  	
   

  	
  $

  	
  4,430,000

  	
   

  
	
  Twelve months ending as of the end of each calendar quarter
  thereafter

  	
   

  	
  $

  	
  4,430,000

  	
   

  

 

[3]           Current
Ratio.  Thermoview and its
Subsidiaries on a consolidated basis shall maintain a Current Ratio of not less
than 1.00 to 1.00 as of the end of each calendar quarter, commencing with the
calendar quarter ending September 30, 2004.

 

For purposes of each of the
above financial covenants, the following terms shall have the following meanings:

 

[A]          “Capital Expenditures” means, for any period, all
payments for any fixed assets, or improvements or for replacements,
substitutions or additions thereto, that have a useful life of more than one
year and which are required to be capitalized under GAAP and which payments
have been made from funds of Thermoview other than funds borrowed by Thermoview
and its Subsidiaries.

 

3

 

[B]           “Current
Assets” means, with respect to any Person, all current assets of such
Person as of any date of determination calculated in accordance with GAAP, but
excluding debts due from Affiliates.

 

[C]           “Current Liabilities” means, with respect to any
Person, all liabilities that should, in accordance with GAAP, be classified as
current liabilities, and in any event shall include all Indebtedness payable on
demand or within one year from any date of determination without any option on
the part of the obligor to extend or renew beyond such year, all accruals for
federal or other taxes based on or measured by income and payable within such
year, but excluding the current portion of long-term debt required to be paid
within one year.

 

[D]          “Current Ratio” means, with respect to any Person as
of any date of determination, the ratio of (a) Current Assets to (b) Current
Liabilities.

 

[E]           “Fixed Charges” shall mean, with respect to
Thermoview for any period, the aggregate of all consolidated interest expenses
paid or accrued, plus Capital Expenditures, plus obligations with respect to capital
leases, plus the Reimbursement Obligations, plus cash income taxes payable,
plus amounts paid to preferred shareholders, plus fees and scheduled payments
of principal with respect to Indebtedness, in all cases during such period by
Thermoview and its Subsidiaries.

 

[F]           “Fixed Charge Coverage Ratio” means, with respect
to any Person for any period, the ratio of (a) EBITDA of such Person for
such period to (b) the Fixed Charges of such Person for such period.

 

[G]           “EBITDA” means, for any period (a) net income (or
the deficit if expenses and charges exceed revenues and proper income items) increased
by (b) all amounts deducted therefrom (without duplication) in the
calculation of net income on account of the sum of (i) interest expense, (ii)
provision for income taxes and (iii) depreciation and amortization expense
(including but not limited to legal fees and closing costs associated with this
Amendment and with the registration rights in respect of all outstanding
warrants), but  excluding  therefrom (c) all amounts
included therein on account of extraordinary items of income and expense, as
well as gains from the sale of assets outside the ordinary course of business.”

 

SECTION 2.  CONDITIONS PRECEDENT TO THE EFFECTIVENESS OF
THIS AMENDMENT.  This Amendment
shall be effective as of March 17, 2004
(such date is referred to herein as the “Effective Date”) upon full
execution and delivery of the following, in each case in form and substance
satisfactory to the Lenders:

 

(a)            this
Amendment;

 

(b)           Amendment No.
8 to the Securities Purchase Agreement, dated as of the date hereof, between
Thermoview and GE Capital;

 

(c)           the Amended
and Restated Series A Note, the Amended and Restated Series B Notes, the
Amended and Restated Series C Note, in each case issued by the Borrowers to the
Lenders; and

 

4

 

(d)           the Amended
and Restated Reimbursement Agreement, dated as of the date hereof, among the
Borrowers and GE Capital.

 

SECTION 3.  FURTHER ASSURANCES.  The Company hereby covenants (i) to provide
GE Capital with such other information respecting the business, properties,
conditions, financial or otherwise, collateral, or operations of the Company or
any of its Subsidiaries as GE Capital may from time to time reasonably request
and (ii) (a) to execute and deliver to GE Capital such amendments,
certificates, or other documents as GE Capital deems necessary or advisable and
(b) to take all other actions as GE Capital deems necessary or advisable, in
each case, in order to continue or grant to GE Capital a perfected first
priority interest in the collateral granted with respect to the Security
Documents.

 

SECTION 4.  CONFIRMATION REGARDING PAYMENTS ON PREFERRED
STOCK.  The Company hereby confirms
that it shall not declare or pay any dividends on or make any distribution with
respect to any class of its equity or ownership interest, or purchase, redeem,
retire or otherwise acquire any of its equity, other than as set forth in
Section 5G of the Loan Agreement, as amended and restated in that certain Ninth
Amendment to Loan Agreement, Amendment to Amended and Restated Promissory Notes
(the “Ninth Amendment”), dated as of Mach 28, 20003, by and among
Borrowers and Lenders (it being understood that no payments of dividends shall
be permitted pursuant to clause (ii) of Section 5G of the Loan Agreement, as
amended and restated by the Ninth Amendment, if (a) at the time of such
payment, the Borrowers shall not be in compliance with the financial covenants
set forth in Sections 4.I.[1] and 4.I.[2] of the Loan Agreement, as such
section was amended and restated in that certain Eight Amendment to the Loan
Agreement and Amendment and Restatment of Note, dated as of March 22, 2001
among Borrowers and Lenders (without giving effect for purposes of this Section
4 to the terms of any subsequent amendment to Section 4.I of the Loan
Agreement, including, without limitation, Sections 1.1 of this Amendment) or
(b) at the time of such payment a Default or Event of Default shall have
occurred and be continuing or such payment would result in the occurrence of a
Default or Event of Default).

 

SECTION 5.  DELIVERY OF UPDATED SCHEDULES.  The Company hereby covenants to, within 30
days after the Effective Date, deliver updated disclosure schedules identical
to those which were delivered in connection with the Security Agreements.  Such disclosure schedules shall be true and
correct as of the date of delivery.

 

SECTION 6.  EXPENSES.  Within fifteen (15) days of the date hereof, Thermoview shall pay
to GE Capital, and shall reimburse GE Capital for, all reasonable expenses of
GE Capital in connection with the preparation of this Amendment and each of the
other documents prepared in connection herewith (including the reasonable fees
and expenses of counsel) and all other reasonable out-of-pocket costs and
expenses of every type and nature (including, without limitation, the
reasonable fees, expenses and disbursements of GE Capital’s counsel, Weil,
Gotshal & Manges LLP) related thereto.

 

SECTION 7.  EFFECT ON LOAN DOCUMENTS.

 

(a)           On and after
the Effective Date, each reference in the Loan Documents to “this Agreement”,
“herein”, “hereof”, “hereunder” or

 

5

 

words
of similar import, shall mean and be a reference to such Loan Document as
amended hereby.

 

(b)           Except as
specifically amended above in connection herewith, each Loan Document shall
remain in full force and effect and is hereby ratified and confirmed.

 

(c)           The
execution, delivery and effectiveness of this Amendment shall not, except as
expressly provided herein, operate as a waiver of any right, power or remedy of
the Lenders under any of the Loan Documents or constitute a waiver of any
provision of any of the Loan Documents.

 

SECTION 8.  RETROACTIVE EFFECT OF AMENDMENT.  This Amendment, although executed on the
date hereof, shall be deemed to have retroactive effectiveness as if executed
on December 1, 2003.

 

SECTION 9.  GOVERNING LAW.  THIS AMENDMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE
GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK, EXCLUDING ITS CONFLICT OF LAWS RULES.

 

SECTION 10.  SECTION TITLES.  Section titles contained in this Amendment
are and shall be without substantive meaning or content of any kind whatsoever
and are not a part of the agreement between the parties hereto.

 

SECTION 11.  COUNTERPARTS.  This Amendment may be executed in any number of separate
counterparts, each of which shall collectively and separately constitute one
agreement.

 

IN WITNESS WHEREOF, this Amendment has been
duly executed as of the date first written above.

 

 

	
   

  	
  GE CAPITAL EQUITY INVESTMENTS, INC.,

  as Series A Lender, Series C Lender and as Collateral Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name, Title

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SERIES B LENDERS:

  
	
   

  	
   

  
	
   

  	
  RODNEY H. THOMAS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CHARLES L. SMITH

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ROBERT L. COX

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ROBERT L. COX, II

  
	
   

  	
   

  	
   

  
					

 

6

 

	
   

  	
  STEPHEN A. HOFFMANN

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MITCH M. WEXLER

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STEPHEN TOWNZEN

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EMERGING BUSINESS SOLUTIONS, LLC

  
	
   

  	
  BY:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  RONALD L. CARMICLE

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RAYMOND C. DAUENHAUER

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  J. SHERMAN HENDERSON, III

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BRUCE C. MERRICK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GEORGE T. UNDERHILL, II

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  DANIEL F. DOOLEY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THERMOVIEW INDUSTRIES, INC.

  
	
   

  	
  AMERICAN HOME DEVELOPERS CO., INC.

  
	
   

  	
  FIVE STAR BUILDERS, INC.

  
	
   

  	
  KEY HOME CREDIT, INC.

  
	
   

  	
  KEY HOME MORTGAGE, INC.

  
	
   

  	
  LEINGANG SIDING AND WINDOW, INC.

  
	
   

  	
  PRIMAX WINDOW CO.

  
	
   

  	
  PRECISION WINDOW MFG., INC.

  
	
   

  	
  ROLOX, INC.

  
	
   

  	
  TD WINDOWS, INC.

  
	
   

  	
  THERMAL LINE WINDOWS, INC.

  
	
   

  	
  THERMOVIEW OF MISSOURI, INC.

  
	
   

  	
  THERMO-TILT WINDOW COMPANY

  
	
   

  	
  THOMAS CONSTRUCTION, INC.

  
	
   

  	
  THERMO-SHIELD OF AMERICA (ARIZONA), INC.

  
	
   

  	
  THERMO-SHIELD OF AMERICA (MICHIGAN), INC.

  
	
   

  	
  THERMO-SHIELD COMPANY, LLC

  
	
   

  	
  THERMO-SHIELD OF AMERICA(WISCONSIN), LLC

  
	
   

  	
  THERMOVIEW ADVERTISING GROUP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Charles
  L. Smith, President

  	
   

  
					

 

7

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