Document:

Exhibit 10.1

 

FIRST
AMENDMENT

 

THIS FIRST AMENDMENT dated as of April 27, 2006
(this “Amendment”) amends the Credit Agreement dated as of March 9,
2006 (the “Credit Agreement”) among Kanbay International, Inc. (the
“Company”), various financial institutions (collectively, the “Lenders”)
and LaSalle Bank National Association (“LaSalle”), as administrative
agent for the Lenders (in such capacity, the “Administrative Agent”). Terms
defined in the Credit Agreement are, unless otherwise defined herein or the context
otherwise requires, used herein as defined therein.

 

WHEREAS, the parties hereto desire to reflect
the exercise by the Company of the increase in the aggregate commitments under
the Credit Agreement, the addition of new Lenders and the reallocation of
commitments and loans under the Credit Agreement, and to make certain other
related changes to the Credit Agreement, as more fully set forth below;

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

 

SECTION 1. AMENDMENTS.
Upon the satisfaction of the conditions precedent set forth in Section 3,
the Credit Agreement shall be amended as follows:

 

1.1                                 Amendment
of Definition. The definition of “Revolving Commitment Amount” is amended
in its entirety to read as follows:

 

Revolving
Commitment Amount means $100,000,000, as reduced from time to
time pursuant to Section 6.1.

 

1.2                                 Deletion
of Section 2.6. Section 2.6 is deleted.

 

1.3                                 Amendment
to Section 10.1.8. Section 10.1.8 is amended by inserting the
word “than” immediately before the phrase “10 Business Days”.

 

1.4                                 Amendments
to Annex A and Annex B. Annex A and Annex B are replaced by Annex A
and Annex B, respectively, hereto.

 

SECTION 2  Addition
of Parties. Upon the satisfaction of the conditions precedent set forth in Section 3,
each financial institution listed on the signature pages hereof other than
LaSalle (each a “New Lender”) will become a Lender under and as defined
in the Credit Agreement with a Revolving Commitment and a Term Commitment in
the amounts shown on Annex A to the Credit Agreement as amended hereby. In
addition, HSBC Bank USA, National Association will be the Syndication Agent and
each of Citibank, F.S.B., National City Bank of the Midwest and U.S. Bank
National Association will be a Co-Documentation Agent (and the Syndication
Agent and the Co-Documentation Agents will have the benefit of the provisions
of Section 14.13 of the Credit Agreement in such capacities).

 

SECTION 3. CONDITIONS
PRECEDENT. The amendments set forth in Section 1 and the
addition of parties set forth in Section 2 shall become effective
when the Administrative Agent has received:

 

 

(a)                                  Amendment.
Counterparts of this Amendment executed by the Company, the Administrative
Agent and each Lender (including each New Lender).

 

(b)                                 Confirmation
and Amendment. A confirmation and amendment substantially in the form of
Exhibit A executed by each Loan Party.

 

(c)                                  Notes.
A Note for each New Lender executed by the Company.

 

SECTION 4.                                REPRESENTATIONS
AND WARRANTIES. The Company represents and warrants to the Administrative
Agent and the Lenders that, immediately after the effectiveness of the
amendments set forth in Section 1 and the addition of parties set
forth in Section 2, (a) each warranty set forth in Section 9
of the Credit Agreement shall be true and correct in all material respects as
of the date of the execution and delivery of this Amendment by the Company,
with the same effect as if made on such date (except to the extent stated to
relate to an earlier date, in which case such representations and warranties
shall be true and correct in all material respects as of such earlier date),
and (b) no Event of Default or Unmatured Event of Default exists.

 

SECTION 5.                                MISCELLANEOUS.

 

5.1                                 Continuing
Effectiveness, etc. The Credit Agreement, as modified hereby, shall remain
in full force and effect and is hereby ratified, approved and confirmed in all
respects. After the effectiveness of this Amendment, all references to the
Credit Agreement in the Loan Documents shall be deemed to refer to the Credit
Agreement as modified hereby.

 

5.2                                 Counterparts.
This Amendment may be executed in any number of counterparts and by the
different parties hereto on separate counterparts and each such counterpart shall
be deemed to be an original, but all such counterparts shall together
constitute but one and the same Amendment. Receipt of an executed signature page to
this Amendment by facsimile or other electronic transmission shall constitute
effective delivery thereof.

 

5.3                                 Governing
Law. THIS AMENDMENT SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY THE
INTERNAL LAWS OF THE STATE OF ILLINOIS APPLICABLE TO CONTRACTS MADE AND TO BE
PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES.

 

5.4                                 Successors
and Assigns. This Amendment shall be binding upon the Company, the Lenders
and the Administrative Agent and their respective successors and assigns, and
shall inure to the benefit of the Company, the Lenders and the Administrative
Agent and the respective successors and assigns of the Lenders and the
Administrative Agent.

 

5.5                                 Confirmation
by New Lenders. Each New Lender confirms to the Company and the
Administrative Agent that, as of the date hereof, the Company will not be obligated
to pay any amount to such Lender under Section 7.6 or 8.1 of the Credit
Agreement.

 

2

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be executed by their respective officers thereunto duly
authorized as of the day and year first above written.

 

	
   

  	
  KANBAY INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ William Weissman

  	
   

  
	
   

  	
  Name:

  	
      William Weissman

  	
   

  
	
   

  	
  Title:

  	
        CFO

  	
   

  
						

 

 

	
   

  	
  LASALLE BANK NATIONAL ASSOCIATION,

  as Administrative Agent, as Issuing Lender and as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ Daniel E. Sullivan, Jr.

  	
   

  
	
   

  	
  Name:

  	
      Daniel E. Sullivan, Jr.

  	
   

  
	
   

  	
  Title:

  	
        First Vice
  President

  	
   

  
						

 

 

	
   

  	
  NEW LENDERS:

  
	
   

  	
   

  
	
   

  	
  HSBC BANK USA, NATIONAL ASSOCIATION, 

  as Syndication Agent and as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ John G. Tierney

  	
   

  
	
   

  	
  Name:

  	
      John G. Tierney

  	
   

  
	
   

  	
  Title:

  	
        First Vice
  President

  	
   

  
						

 

 

	
   

  	
  CITIBANK, F.S.B., as Co-Documentation Agent
  

  and as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ Scott A. Miller

  	
   

  
	
   

  	
  Name:

  	
      Scott A. Miller 

  	
   

  
	
   

  	
  Title:

  	
        Vice President

  	
   

  
						

 

 

	
   

  	
  NATIONAL CITY BANK OF THE MIDWEST, as 

  Co-Documentation Agent and as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ Michael L.
  Monninger

  	
   

  
	
   

  	
  Name:

  	
      Michael L. Monninger

  	
   

  
	
   

  	
  Title:

  	
        Vice President

  	
   

  
						

 

 

	
   

  	
  U.S. BANK NATIONAL ASSOCIATION, as Co-

  Documentation Agent and as a Lender

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ Matthew J. Schulz

  	
   

  
	
   

  	
  Name:

  	
      Matthew J. Schulz

  	
   

  
	
   

  	
  Title:

  	
        Vice President

  	
   

  
						

 

 

	
   

  	
  SILICON VALLEY BANK

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ Authorized
  Signatory

  	
   

  
	
   

  	
  Name:

  	
      Authorized Signatory

  	
   

  
	
   

  	
  Title:

  	
        Relationship
  Manager

  	
   

  
						

 

 

	
   

  	
  WELLS FARGO BANK, N.A.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
       /s/ Jillian L.R. Bales

  	
   

  
	
   

  	
  Name:

  	
      Jillian L.R. Bales

  	
   

  
	
   

  	
  Title:

  	
   Vice President/Senior Relationship ManagerCC Filed by Filing Services Canada Inc. 403-717-3898

Exhibit 10.1

PROPERTY AGREEMENT

THIS AGREEMENT is made effective March 2, 2006.

BETWEEN:

Shaheen Jivraj-Sangara, an individual residing in the Province of British Columbia and having a address at 1903-583 Beach Crescent, Vancouver, British Columbia, Canada, V6Z 3E6.

(hereinafter called “Seller”)

OF THE FIRST PART

AND:

Georgia Exploration Inc. a company duly incorporated under the laws of the State of Nevada, having an office 1903-583 Beach Crescent, Vancouver, British Columbia, Canada, V6Z 3E6.

(hereinafter called “GEX”)

OF THE SECOND PART

WHEREAS:

A.

Seller is the sole registered and beneficial owner of 100% of the right, title and interest in and to fourteen Similkameen Mining Claims, which are situated in British Columbia, which Mining Claims are more particularly described in Schedule “A” attached hereto and forming part of hereof (hereinafter called the “Claim”); and

B.

The parties now wish to enter into an agreement granting to GEX an undivided 100% of the right, title and interest in and to the Claim on the terms and conditions are hereinafter set forth.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and the mutual promises, covenants and agreements herein contained, the parties hereto agree as follows:

1. Representation and Warranties

1.

GEX represents and warrants to Seller that:

a.

GEX is a body corporate duly incorporated, organized and validly subsisting under the laws of Nevada;

b.

GEX has full power and authority to carry on its business and to enter into this Agreement and any agreement or instrument referred to or contemplated herein.

 Page 1 

c.

neither the execution and delivery of this Agreement nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated will conflict with, result in the breach of or accelerate the performance required by any agreement to which GEX is a party; and

d.

the execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto or of GEX constating documents.

2.

Seller represents and warrants to GEX:

a.

the Claim consists of fourteen mining claims in the Similkameen Mining District which has been duly and validly recorded and registered, as accurately described in Schedule “A”, is presently in good standing under the laws of the jurisdiction in which they are located and, except as set forth herein, is free and clear of all liens, charges and encumbrances;

b.

Seller is the registered and beneficial owner of a 100% interest in and to the Claim and has the exclusive right to enter into this Agreement and all necessary authority to dispose of an undivided 100% interest in and to the Claim in accordance with the terms of this Agreement;

c.

no person, firm or corporation has any proprietary or possessory interest in the Claim other than Seller and no person is entitled to any royalty or other payment in the nature of rent or royalty on any minerals, ores, metals or concentrates or any such products removed from the Claim;

d.

neither the execution and delivery of this Agreement nor any of the agreements referred to herein or contemplated hereby, nor the consummation of the transactions hereby contemplated will conflict with, result in the breach of or accelerate the performance required by any agreement to which Seller is a party or by which Seller is bound; and

e.

the execution and delivery of this Agreement and the agreements contemplated hereby will not violate or result in the breach of the laws of any jurisdiction applicable or pertaining thereto.

f.

Seller has spent a total amount of CDN$5,000 (USD$4,388) to acquire the claim and to pay for a geological report on the Claim dated March 3, 2006, an originally signed copy of which has been provided to GEX.   

3.

The representation and warranties hereinbefore set out are conditions on which the parties have relied in entering into this Agreement and will survive the acquisition of any interest in the Claim by GEX and each party will indemnify and save the other party harmless from all loss, damage, costs, actions and suits arising our of or in connection with any breach or any representation, warranty, covenant, agreement or condition made by the other party and contained herein.

2.

Purchase 

 Page 2 

Seller hereby sells and grants to GEX an undivided 100% right, title and interest of Seller in and to the Claim, in accordance with the terms of this Agreement for and in consideration for the sum of $5,215 (US$4,587) payable by the issuance to Seller by GEX of 

1,303,750 shares of common stock of GEX at a deemed price of $0.004 (US$0.0035) per share. 

3.

Transfer of Title

Seller will hold the Claim in trust for GEX, and transfer the Claim to GEX or its authorized agent, in accordance with the terms of a Trust Agreement to be entered into concurrently with this Agreement.

4.

Covenants of Seller

Seller will:

a.

not do any act or thing which would or might in any way adversely affect the rights of GEX hereunder or the ability of GEX to access the Claim and conduct exploration and development activities thereon;

b.

make available to GEX and its representatives all records and files in the possession of Seller relating to the Claim and permit GEX and its representatives at its own expense to take abstracts therefrom and make copies thereof; and

c.

in accordance and subject to the terms of the Trust Agreement and this agreement, to promptly transfer registered ownership of the Claim to GEX or its authorized agent on request made by GEX.

5.

Covenants of GEX

GEX will not do any act or thing which would or might any way adversely affect the rights of Seller hereunder.

6.

Further Assurances  

The parties hereto agree that they and each of them will execute all documents and do all acts and things within their respective powers to carry out and implement the provisions or intent of this Agreement.

7.

Notice

1.

Any notice, direction or other instrument required or permitted to be given under this Agreement will be in writing and will be given by the delivery or facsimile transmission or the same or by mailing the same by prepaid registered or certified mail in each case addressed as follows:

a.

if to GEX

1903 – 583 Beach Crescent

Vancouver, British Columbia

Canada, V6Z 3E6

 Page 3 

b.

if to Seller

1903 – 583 Beach Crescent

Vancouver, British Columbia

Canada, V6Z 3E6

2.

Any notice, direction or other instrument aforesaid will, if delivered by courier or facsimile transmission, be deemed to have been given and received on the next business day following the day on which it was delivered or sent by facsimile, and if mailed, be deemed to have been given and received on the fifth business day following the day of mailing, except in the event of disruption of the postal services in which event notice will be deemed to be received only when actually received.

3.

Any party at any time give to the other notice in writing of any change of address of the party giving such notice and from and after the giving of such notice, the address or addresses of such party for the purpose of giving notice hereunder.

8.

Headings

The headings to the respective sections herein will not be deemed part of this Agreement but will be regarded as having been used for convenience only.

9.

Payment

All references to monies hereunder will be in United States funds except where otherwise designated. All payments to be made to any party hereunder will be mailed or delivered to such party at its address for notice purposes as provided herein, or for the account of such party at such bank or banks in the United States or Canada as such party may designate from time to time by written notice. Said banks or banks will be deemed the agent of the designating party for the purpose of receiving and collecting such payment.

10.

Enurement

This Agreement will enure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns.

11.

Terms

The terms and provisions of this Agreement shall be interpreted in accordance with the laws of Nevada.

12.

Entire Agreement

This agreement, together with the Trust Agreement entered into between the parties concurrently herewith, constitutes the entire agreement between the parties and replaces and supersedes all prior agreements, memoranda, correspondence, communications, negotiations and representations, whether verbal or written, express or implied, statutory or otherwise between the parties with respect to the subject matter herein.

13.

Time of Essence

 Page 4 

Time will be of the essence in this Agreement.

14.

Enforcement of Agreement

The covenants, promises, terms and conditions contained herein will be binding upon the parties jointly and severally any may be enforced by each as against each other interests.

IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

		
	Georgia Exploration Inc.

Per:   /s/ Shaheen Jivraj-Sangara

President,

Shaheen Jivraj-Sangara

	Shaheen Jivraj-Sangara

Per:   /s/ Shaheen Jivraj-Sangara

Shaheen Jivraj-Sangara

 Page 5 

This is Schedule “A” to a Property Agreement made as of the 22nd day of September, 2005 between Shaheen Jivraj-Sangara and Georgia Exploration Inc.

			
	Tenure Number

	Claim Name

	Good To Date

	413776

	CHUB 1

	August 28, 2006

	413777

	CHUB 2

	August 28, 2006

	413778

	CHUB 3

	August 28, 2006

	413779

	CHUB 4

	August 28, 2006

	413780

	CHUB 5

	August 28, 2006

	413781

	CHUB 6

	August 28, 2006

	413782

	CHUB 7

	August 28, 2006

	413783

	CHUB 8

	August 28, 2006

	413784

	CHUB 9

	August 28, 2006

	413785

	CHUB 10

	August 28, 2006

	413786

	CHUB 11

	August 28, 2006

	413787

	CHUB 12

	August 28, 2006

	413788

	CHUB 13

	August 28, 2006

	413789

	CHUB 14

	August 28, 2006

 Page 6

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