Document:

Amend. dated 10/15/02 to the Credit Agreement

 Exhibit 10.24 
  
 AMENDMENT dated as of October 15, 2002, to the Credit Agreement dated as of August 11, 2000, as amended and restated as of February 12, 2002 (the “Credit Agreement”), among SHILOH
INDUSTRIES, INC., a Delaware corporation (the “Borrower”), the LENDERS party thereto, JPMORGAN CHASE BANK, as Administrative Agent and Collateral Agent, KEYBANK NATIONAL ASSOCIATION, as Syndication Agent and BANK ONE, MICHIGAN, as,
Documentation Agent. 
  
 A.    Pursuant to the Credit Agreement, the Lenders have extended credit
to the Borrower, and have agreed to extend credit to the Borrower, in each case pursuant to the terms and subject to the conditions set forth therein. 
  
 B.    The Borrower has requested that the Lenders agree to amend certain provisions of the Credit Agreement pursuant to the terms and subject to the conditions set forth herein.

  
 C.    The undersigned Lenders are willing so to amend the Credit Agreement pursuant to the
terms and subject to the conditions set forth herein. 
  
 D.    Capitalized terms used but not
defined herein have the meanings assigned to them in the Credit Agreement, as amended hereby. 
  
 Accordingly, in
consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree as
follows: 
  
 SECTION 1.    Amendments to Section 1.01.  Section 1.01 of the
Credit Agreement is hereby amended as follows: 
  
 (a) by deleting in its entirety the definition of
the term “Capital Expenditures Plan” and substituting the following therefor: 
  
 “Capital
Expenditures Plan” means, collectively, (a) the capital expenditures plan of the Borrower and the Subsidiaries for the Borrower’s fiscal year ending October 31, 2002, (b) the capital expenditures plan of the Borrower and the
Subsidiaries for the Borrower’s fiscal year ending October 31, 2003, and (c) the capital expenditures plan of the Borrower and the Subsidiaries for the Borrower’s fiscal year ending October 31, 2004. 
  
 (b) by adding the following text at the end of the definition of the term “Consolidated EBITDA”. 

 
 Notwithstanding the foregoing, to the extent deducted in determining Consolidated Net Income for any period, any nonrecurring
non-cash charges resulting from the write-down of (a) the Borrower’s investment in VCS Properties, LLC (formerly known as Valley City Steel Company) and Valley City Steel, LLC and (b) the land and buildings (other than any 

 Mortgaged Property) occupied and leased by VCS Properties, LLC (formerly known as Valley City Steel Company) as of
September 30, 2002, shall be added to Consolidated Net Income for such period for purposes of determining Consolidated EBITDA. 
  
 (c) by adding the following text at the end of the definition of the term “Consolidated Tangible Net Worth”: 
  
 Notwithstanding the foregoing, Consolidated Tangible Net Worth shall be calculated excluding the effect of any nonrecurring non-cash charges resulting from the write-down
of (a) the Borrower’s investment in VCS Properties, LLC (formerly known as Valley City Steel Company) and Valley City Steel, LLC and (b) the land and buildings (other than any Mortgaged Property) occupied and leased by VCS Properties, LLC
(formerly known as Valley City Steel Company) as of September 30, 2002. 
  
 SECTION
2.    Amendment to Section 5.01.  Section 5.01 of the Credit Agreement is hereby amended by deleting in its entirety paragraph (g) thereof and substituting the following therefor: 
  
 (g) not later than August 31, 2003, a Capital Expenditures Plan for the Borrower’s fiscal year ending October 31, 2004, which Capital
Expenditures Plan shall be (x) no less detailed than the Capital Expenditures Plan for the Borrower’s fiscal year ending October 31, 2003, and (y) otherwise shall be in form and substance reasonably satisfactory to the Lenders; 

 
 SECTION 3.    Amendment to Section 5.16.  Section 5.16 of the Credit Agreement is hereby
amended by deleting all references to the text “October 31, 2003” therein and substituting the text “October 31, 2004” for all such references. 
  
 SECTION 4.    Amendment to Section 6.01.  Paragraph (f) of Section 6.01 of the Credit Agreement is hereby amended by inserting the text
“or October 31, 2003” immediately following the text “October 31, 2002” and before the text “and”. 
  
 SECTION 5.    Amendment to Section 6.06.  Paragraph (c) of Section 6.06 of the Credit Agreement is hereby amended by inserting the text “or October 31, 2003” immediately following the
text “October 31, 2002” and before the text “,”. 
  
 SECTION
6.    Amendments to Section 6.16.  Section 6.16 of the Credit Agreement is hereby amended as follows: 
  
 (a) by inserting the following table at the end of paragraph (b) thereof: 
  
 
	 Period
 
	  	 Amount
 

	 Month ending on November 30, 2002
 	  	 $4,345,000
 
	 2 Months ending on December 31, 2002
 	  	 $7,095,000
 
	 3 Months ending on January 31, 2003
 	  	 $13,069,000
 

 

 
	 4 Months ending on February 28, 2003
 	  	 $15,454,000
 
	 5 Months ending on March 31, 2003
 	  	 $18,740,000
 
	 6 Months ending on April 30, 2003
 	  	 $21,810,000
 
	 7 Months ending on May 31, 2003
 	  	 $23,090,000
 
	 8 Months ending on June 30, 2003
 	  	 $24,280,000
 
	 9 Months ending on July 31, 2003
 	  	 $26,950,000
 
	 10 Months ending on August 31, 2003
 	  	 $27,850,000
 
	 11 Months ending on September 30, 2003
 	  	 $28,225,000
 
	 12 Months ending on October 31, 2003
 	  	 $29,095,500
 

 
  
 (b) by deleting the text “October 31, 2003” in paragraph
(c) thereof and replacing it with the text “October 31, 2004”. 
  
 SECTION
7.    Representations and Warranties.  The Borrower represents and warrants to the Administrative Agent and to each of the Lenders that: 
  
 (a) This Amendment has been duly authorized, executed and delivered by the Borrower and constitutes a legal, valid and binding obligation of the Borrower, enforceable in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law. 
  
 (b) The representations and warranties of the Borrower set forth in the Loan
Documents are true and correct on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties are true and correct as of such earlier
date. 
  
 (c) Immediately after giving effect to this Amendment, no Default shall have occurred and be continuing.

  
 SECTION 8. Conditions to Effectiveness. This Amendment shall become effective as of the date first above
written when (i) the Administrative Agent shall have received counterparts of this Amendment that, when taken together, bear the signatures of the Borrower and the Required Lenders, (ii) the Commitments shall have been ratably reduced to an amount
not in excess of $260,000,000 pursuant to Section 2.08(b) of the Credit Agreement and the Borrower shall have repaid Revolving Borrowings as required by Section 2.10(b) of the Credit Agreement and (iii) all fees and expenses required to be paid or
reimbursed by the Borrower under or in connection with this Amendment or the Credit Agreement shall have been paid or reimbursed, as applicable (including all fees and disbursements of counsel previously invoiced). 

  
 SECTION 9.    Credit Agreement.  Except as
specifically waived or amended hereby, the Credit Agreement shall continue in full force and effect in accordance with the provisions thereof as in existence on the date hereof. After the date hereof, any reference to the Credit Agreement shall mean
the Credit Agreement as amended or modified hereby. This Amendment shall be a Loan Document for all purposes. 
  
 SECTION 10.    Applicable Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 11.    Counterparts.  This Amendment may be executed in two or more counterparts, each of
which shall constitute an original but all of which when taken together shall constitute but one agreement. Delivery of an executed signature page to this Amendment by facsimile transmission shall be effective as delivery of a manually signed
counterpart of this Amendment. 
  
 SECTION 12.    Expenses.  The Borrower agrees
to reimburse the Administrative Agent for its out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and disbursements of Cravath, Swaine & Moore, counsel for the Administrative Agent. 

 
 SECTION 13.    Headings.  The Section headings used herein are for convenience of
reference only, are not part of this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment. 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized
officers as of the day and year first written above. 
  
 
	 SHILOH INDUSTRIES, INC.,
 
	 
	 by:
 	 	 /s/    STEPHEN
GRAHAM        
 

	  	 	 Name: Stephen Graham        
 Title: Chief Financial Officer
 

 
  
  
 
	 JPMORGAN CHASE BANK
 individually and as Administrative Agent
and
 Collateral Agent,
 
	 
	 by:
 	 	 /s/    KAREN M.
SHARF        
 

	  	 	 Name: Karen M. Sharf      
 Title: Vice President
 

 
  
  
 
	 BANK ONE, NA
 
	 
	 by:
 	 	 /s/    JOANNA W.
ANDERSON        
 

	  	 	 Name: Joanna W. Anderson        
 Title: Assistant Vice President
 

 
  
  
 
	 COMERICA BANK
 
	 
	 by:
 	 	 /s/    SARAH N.
RIGGS        
 

	  	 	 Name: Sarah N. Riggs          
 Title: Account Officer
 

 
  
  
 
	 GE CAPITAL CFE, INC.
 
	 
	 by:
 	 	 /s/    WILLIAM S.
RICHARDSON        
 

	  	 	 Name: William S. Richardson        
 Title: Duly Authorized Signatory
 

 
  
  
 
	 KEY CORPORATE CAPITAL, INC.
 
	 
	 by:
 	 	 /s/    MICHAEL V.
PANICAL        
 

	  	 	 Name: Michael V. Panical        
 Title: Vice President
 

 

  
 
	 NATIONAL CITY BANK
 
	 
	 by:
 	 	 /s/    ROBERT S.
COLEMAN        
 

	  	 	 Name: Robert S. Coleman        
 Title: Senior Vice President
 

 
  
  
  
 
	 THE BANK OF NOVA SCOTIA
 
	 
	 by:
 	 	 /s/    DANIEL A.
COSTIGAN        
 

	  	 	 Name: Daniel A. Costigan      
 Title: Director
 

 
  
  
  
 
	 PNC BANK, NATIONAL ASSOCIATION
 
	 
	 by:
 	 	 /s/    MARY E.
BURGWINKLE          
 

	  	 	 Name: Mary E. Burgwinkle        
 Title: Vice President
 

 
  
  
  
 
	 SKY BANK
 
	 
	 by:
 	 	 /s/    JERRY S.
SUTHERIN        
 

	  	 	 Name: Jerry S. Sutherin        
 Title: Vice President
 

 
  
  
  
 
	 U.S. BANK NATIONAL ASSOCIATION
 FKA Firstar Bank, National
Association
 
	 
	 by:
 	 	 /s/    MARK E.
STORER        
 

	  	 	 Name: Mark E. Storer      
 Title: Senior Vice PresidentLetter Agreement

 EXHIBIT 4.1 
  
 January 21, 2003 
  
 Vista Equity Fund II, L.P. 
 c/o
Vista Equity Partners LLC 
 150 California Street, 19th Floor 
 San Francisco, CA 94111 

 
 Dear Ladies and Gentlemen: 
  
 On behalf
of Aspect Communications Corporation (“Aspect”) and in connection with the sale and issuance of the Company’s Series B Convertible Preferred Stock (the “Series B Preferred Stock”) under the Preferred Stock Purchase Agreement
dated November 14, 2002 (the “Purchase Agreement”) entered into between Aspect and Vista Equity Fund II, L.P. (“Vista”), this letter will serve to confirm our mutual understanding regarding certain voting rights of the Series B
Preferred Stock. Specifically, Aspect and Vista have agreed as follows: 
  
 WHEREAS: Section 6(a) of the Certificate
of Determination of Rights, Preferences and Privileges of the Series B Convertible Preferred Stock of Aspect (the “Certificate”) provides that each holder of Series B Preferred Stock shall be entitled to vote on all matters subject to a
stockholders vote and shall be entitled to that number of votes equal to the number of shares of Conversion Stock (as defined in the Certificate) into which such holder’s shares could be converted pursuant to the provisions of Section 5 of the
Certificate, on the record date for the determination of shareholders entitled to vote on such matter; 
  
 WHEREAS:
The initial conversion price of the Series B Preferred Stock is $2.25 per share, which conversion price is subject to adjustment from time to time pursuant to the Certificate in order to provide the holders of the Series B Preferred Stock certain
anti-dilution protections; 
  
 WHEREAS: Under the voting rights rules of The Nasdaq Stock Market, Inc., an issuer
cannot create a new class of security that votes at a higher rate than an existing class of securities; 
  
 WHEREAS:
The closing price of the Company’s Common Stock on November 13, 2002 (the day prior to the date of the Purchase Agreement) was $1.80; 
  
 AGREED: That, notwithstanding any adjustments made to the conversion price pursuant to Section 5(b) of the Certificate, solely for purposes of calculating the number of votes that each holder of Series B Preferred Stock
shall be entitled to vote on matters subject to a stockholders vote, the conversion price used for such calculation shall not be less than $1.80 (subject to adjustments to reflect any stock dividend, stock split, reverse stock split 

  
 or other combination or subdivision of the Common Stock after the Series B
Closing Date). 
  
 If you agree with the foregoing description of our understanding regarding the above matters, please acknowledge your
agreement by signing and returning the enclosed copy of this letter to me. This letter agreement between Aspect and Vista and will supersede any prior written or oral agreements on the matters of voting rights of the Series B Preferred Stock
described herein. 
  
 
	 Sincerely,
  
 ASPECT COMMUNICATIONS
CORPORATION
 
	 
	  
 /S/    BEATRIZ INFANTE
 

	 Beatriz Infante
 Chairman and Chief Executive Officer
 

 
  
 Accepted and Agreed: 
  
 VISTA EQUITY FUND II, L.P. 
  
 
	 
	 By:
 	 	 VEFIIGP, LLC
 
	  	 	 Its Managing General Partner
 

 
  
 
	 
	 By:
 	 	  
 /S/    ROBERT F.
SMITH
 

	  	 	 Robert F. Smith
 Managing
Member
 

 

 
 -2-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}]]