Document:

exv10w52wd

Exhibit 10.52D

AMENDMENT NO. 4 TO NOTE PURCHASE AGREEMENT

(Series 2008-A)

     THIS AMENDMENT NO. 4 TO NOTE PURCHASE AGREEMENT (Series 2008-A) (this “Amendment”) is
executed as of December 23, 2010, by and among Cofina Funding, LLC, as the Issuer (the
“Issuer”), Victory Receivables Corporation, as the Conduit Purchaser, and The Bank of
Tokyo-Mitsubishi UFJ, Ltd., New York Branch (“BTMU”), as the Funding Agent and as a
Committed Purchaser.

RECITALS

     WHEREAS, the parties hereto are parties to that certain Note Purchase Agreement dated as of
November 21, 2008 (as amended through the date hereof, the “Agreement”); and

     WHEREAS, the parties hereto desire to amend the Agreement as hereinafter set forth.

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

     SECTION 1. Certain Defined Terms. Each capitalized term used but not defined herein
shall have the meaning ascribed thereto or incorporated by reference in the Agreement.

     SECTION 2. Amendment to Agreement. The Agreement is hereby amended as follows:

     (a) The definitions of “More Favorable Documentation,” “Series 2010-A Supplement,”
“Series 2008-A,” “Unexpired Series Maximum Funded Amount,” and “Unexpired Series True-Up
Reduction“are added to Section 1.01 of the Agreement as alphabetically appropriate as
follows:

“More Favorable Documentation” has the meaning specified in Section7.01(h).

“Series 2010-A Supplement” means the supplement to the Base Indenture, dated
as of December 23, 2010, between the Issuer and the Trustee (as amended,
supplemented or otherwise modified from time to time).

“Series 2008-A” has the meaning specified in the Series Supplement.

“Unexpired Series Maximum Funded Amount” means the aggregate of the “Maximum
Funded Amounts” under (and as defined in) all Unexpired Series.

“Unexpired Series True-Up Reduction” has the meaning specified in Section
2.05.

 

 

     (b) Section 2.03(f) of the Agreement is amended in its entirety to read as follows:

               (f) Each “Increase” under (and as defined in) any Unexpired Series (including each Increase
hereunder) shall be followed, on a weekly basis, by one or more “Increases” under (and as defined
in) such other Unexpired Series and in such amounts as are necessary to cause the Unexpired Series
Aggregate Funded Amount to be ratably allocated among all Unexpired Series according to the
“Maximum Funded Amount” under (and as defined in) each Unexpired Series (each such weekly
“Increase”, an “Unexpired Series True-Up”); provided that if any “Increase” exceeds
$500,000, the amount of such “Increase” shall be allocated pro rata across all Series on the date
thereof without using the true-up mechanism set forth above. In addition, notwithstanding any other
provision hereof or in the Series Supplement to the contrary, in allocating “Increases” and
repayments across Series, such allocation shall utilize the normal, non-seasonal “Maximum Funded
Amounts” for Series 2010-A (i.e., $100,000,000) and Series 2008-A (i.e., $200,000,000) until such
amounts are fully utilized and then “Increases” shall be allocated solely to the seasonal portion
of the Series 2008-A “Maximum Funded Amount”. Similarly, prepayments or repayments (so long as no
Early Amortization Event or Event of Default has occurred) shall be allocated solely to the
seasonal portion of the Series 2008-A “Maximum Funded Amount” until repaid (and then pro rata to
the normal, non-seasonal “Maximum Funded Amounts” of Series 2008-A and Series 2010-A).

     (c) Section 2.05 of the Agreement is amended to add the following two sentences to the
end of such section:

               Each “Reduction” under (and as defined in) any Unexpired Series (including each Reduction
hereunder) shall be followed by one or more “Reductions” under (and as defined in) such other
Unexpired Series and in such amounts as are necessary to cause the Unexpired Series Aggregate
Maximum Funded Amount to be ratably reduced among all Unexpired Series according to the “Maximum
Funded Amount” under (and as defined in) each Unexpired Series (each such “Reduction”, an
“Unexpired Series True-Up Reduction”). Notwithstanding the foregoing, the Maximum Funded
Amount hereunder shall not be reduced ratably in connection with the $50,000,000 “Maximum Funded
Amount” reduction under Series 2008-A that occurs on May 31, 2011.

     (d) Section 7.01 of the Agreement is amended to add clauses (f), (g) and (h) thereto as
follows:

               (f) Creation of New Series. The Issuer shall not create a new Series of Notes without
the prior written consent of the Funding Agent.

               (g) Amendments. The Issuer shall not enter into any amendment of the Base Indenture,
the Servicing Agreement, the Purchase and Contribution Agreement, the CHS Purchase Agreement, the
Purchase Agreement or any other Transaction Document (other than a Transaction Document which
governs solely one Series) without the prior written consent of the Funding Agent.

2

 

               (h) Other Series. The Issuer hereby undertakes that if and to the extent that any
Transaction Documents related to another Series, whether currently in effect or effective as of a
date hereafter (whether by amendment, waiver, consent or otherwise), contains any representation,
warranty, covenant, early amortization event, potential early amortization event, default, event of
default, indemnity provision, pricing provision or priority of collateral provision or other
definitional terms that are more favorable (in the sole discretion of the Funding Agent) than the
provisions applicable to Series 2008-A (“More Favorable Documentation”), then, but only for
so long as such More Favorable Documentation remains in effect, it will deem the provisions
applicable to Series 2008-A to be automatically amended to reflect such More Favorable
Documentation; provided that the Issuer undertakes to so amend and restate any of the
Transaction Documents to reflect such More Favorable Documentation if reasonably requested to do so
by the Funding Agent.

     SECTION 3. Consent. Each of the Funding Agent and the Purchasers party hereto hereby:
(i) consent to the amendment and restatement of the Base Indenture dated as of August 10, 2005,
between the Issuer and U.S. Bank National Association, as Trustee, (ii) directs the Trustee to
execute the Amended and Restated Base Indenture, dated as of December 23, 2010, between the Issuer
and the Trustee in the form delivered to the Trustee on the date hereof and (iii) consents to the
prepayment on the date hereof of note principal in an amount sufficient to achieve the pro rata
utilization of the normal, non-seasonal commitments under Series 2010-A and Series 2008-A.

     SECTION 4. Effect of Amendment. Except as expressly amended and modified by this
Amendment, all provisions of the Agreement shall remain in full force and effect. After this
Amendment becomes effective, all references in the Agreement to “this Agreement”, “hereof”,
“herein” or words of similar effect referring to the Agreement shall be deemed to be references to
the Agreement as amended by this Amendment. This Amendment shall not be deemed to expressly or
impliedly waive, amend or supplement any provision of the Agreement other than as set forth herein.

     SECTION 5. Effectiveness. This Amendment shall become effective on the first date on
which BTMU has received:

     (a) counterparts of this Amendment executed by each of the parties hereto (whether by
facsimile or otherwise); and

     (b) counterparts of that certain Amendment No. 4 to Series 2008-A Supplement to Base
Indenture, dated as of the date hereof, among the Issuer, the Trustee and BTMU, executed by
each of the parties thereto (whether by facsimile or otherwise).

     SECTION 6. Counterparts. This Amendment may be executed by different parties in any
number of counterparts, each of which when so executed shall be deemed to be an original and all of
which when so executed shall together constitute but one and the same instrument.

     SECTION 7. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York.

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     SECTION 8. Section Headings. The various headings of this Amendment are inserted for
convenience only and shall not affect the meaning or interpretation of this Amendment or the
Agreement or any provision hereof or thereof.

[Signatures Follow]

4

 

     IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first written above.

	 	 	 	 	 
	 	

COFINA FUNDING, LLC,

as the Issuer

 	 
	 	By:  	
/s/ James M. Grafing
 	 
	 	 	Name:  	James M. Grafing 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

[Signatures Continue on the Following Page]

Amendment
No. 4 to Series 2008-A NPA

S-1

 

	 	 	 	 	 
	 	

VICTORY RECEIVABLES CORPORATION,

as the Conduit Purchaser

 	 
	 	By:  	
/s/ Frank B. Bilotta
 	 
	 	 	Name:  	Frank B. Bilotta 	 
	 	 	Title:  	President 	 
	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK
BRANCH,

as the Funding Agent

 	 
	 	By:  	
/s/ Aditya Reddy
 	 
	 	 	Name:  	Aditya Reddy 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK
BRANCH,

as a Committed Purchaser

 	 
	 	By:  	/s/ Victor Pierzchalski
 	 
	 	 	Name:  	Victor Pierzchalski 	 
	 	 	Title:  	Authorized Signatory

Purchaser Percentage: 100% 	 
	 

Amendment
No. 4 to Series 2008-A NPA

S-2exv10w1

Exhibit 10.1

Bank of America

	AMENDMENT NO. 1 TO LOAN AGREEMENT

     This Amendment No. 1 (the “Amendment”) dated as of October 27,2011, is between Bank of
America, N.A. (the “Bank”) and American Locker Group Incorporated, a Delaware corporation
(“American Locker”), American Locker Security Systems, Inc., a Delaware corporation (“Security
Systems”), Security Manufacturing Corporation, a Delaware corporation (“Security Manufacturing”)
and Canadian Locker Company Limited, a corporation incorporated under the federal laws of Canada
(“Canadian Locker”) (American Locker, Security Systems, Security Manufacturing and Canadian
Locker, are referred to herein collectively as the “Borrower”).

	RECITALS

     A. The Bank and the Borrower entered into a certain Loan Agreement dated as of December 8,
2010 (together with any previous amendments, the “Agreement”).

     B. The Bank and the Borrower desire to amend the Agreement.

AGREEMENT

     1. Definitions. Capitalized terms used but not defined in this Amendment shall have
the meaning given to them in the Agreement.

     2. Amendments. The Agreement is hereby amended as follows:

	 	2.1	 	Paragraph 2.2 is hereby amended to read in its entirety as follows:

2.2 Availability Period. The line of credit is available between the date of this
Agreement and December 8,2012, or such earlier date as the availability
may terminate as provided in this Agreement (the “Facility No. 1
Expiration Date”).

	 	2.2	 	Subparagraph 2.4(c) is hereby deleted in its entirety.
	 
	 	2.3	 	Subparagraph 3.3(c) is hereby deleted in its entirety.
	 
	 	2.4	 	The following Section 3A is hereby added:

3A. FACILITY NO. 3: TERM LOAN AMOUNT AND TERMS

3A.1 Loan Amount: The Bank agrees to provide a term loan to the Borrower
in the amount of Five Hundred Thousand and No/100 Dollars ($500,000.00)
(the “Facility No. 3 Commitment”).

3A.2 Availability Period. The loan is available in one or more disbursements
from the Bank between October 27,2011 and October 27,2012.

3A.3 Repayment Terms.

	 	(a)	 	The Borrower will pay interest on November
27, 2011, and then on the same day of each month thereafter until
payment in full of any principal 

Amendment to Loan Agreement

1

 

	 	 	 	outstanding under this facility.
	 
	 	(b)	 	The Borrower will repay principal in equal
installments beginning on November 27, 2012, and on the same day of
each month thereafter, and ending on October 27, 2015 (the “Repayment
Period”). Each principal installment shall be in an amount sufficient
to fully amortize the principal amount over an amortization period of
three (3) years. In any event, on the last day of the Repayment
Period, the Borrower will repay the remaining principal balance plus
any interest then due.

3A.4 Interest Rate.

	 	(a)	 	The interest rate is a rate per year equal to
the lesser of (i) the maximum lawful rate of interest permitted under
applicable usury laws, now or hereafter enacted (the “Maximum Rate”),
or (ii) the BBA LIBOR Rate (Adjusted Periodically) plus 3.75
percentage points.
	 
	 	(b)	 	The interest rate will be adjusted on the 27th
day of every month (the “Adjustment Date”) and remain fixed until the
next Adjustment Date. If the Adjustment Date in any particular month
would otherwise fall on a day that is not a banking day then, at the
Bank’s option, the Adjustment Date for that particular month will be
the first banking day immediately following thereafter.
	 
	 	(c)	 	The BBA LIBOR Rate (Adjusted Periodically) is
a rate of interest equal to the rate per annum equal to the British
Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters
(or other commercially available source providing quotations of BBA
LIBOR as selected by the Bank from time to time) as determined for
each Adjustment Date at approximately 11 :00 a.rn. London time two (2)
London Banking Days prior to the Adjustment Date, for U.S. Dollar
deposits (for delivery on the first day of such interest period) with
a term of one month, as adjusted from time to time in the Bank’s sole
discretion for reserve requirements, deposit insurance assessment
rates and other regulatory costs. If such rate is not available at
such time for any reason, then the rate for that interest period will
be determined by such alternate method as reasonably selected by the
Bank. A “London Banking Day” is a day on which banks in London are
open for business and dealing in offshore dollars.

	 	2.5	 	The following Subparagraph 9.1(c) is hereby added:

	 	9.1	 	 Use of Proceeds
	 
	 	(c)	 	To use the proceeds of Facility No. 3 only
for the purchase of equipment and/or materials for manufacturing new
lockers for new concession contracts.

	 	2.6	 	The following Section 13 is hereby added:

	 	13.	 	Prepayment.
	 
	 	(a)	 	The Borrower may prepay the credit in full or
in part at any time. The
prepayment will be applied to the most remote payment of principal
due under this Agreement.
	 
	 	(b)	 	Each prepayment, whether voluntary, by reason
of acceleration or

Amendment to Loan Agreement

2

 

	 		 	otherwise, will be accompanied by the amount of
accrued interest on the amount prepaid, and, if the prepayment is made
during a Fixed Interest Rate Period, the prepayment fee described
below.
	 
	 	(c)	 	The prepayment fee is intended to compensate
the Bank for the funding costs of the prepaid credit, if any. The
prepayment fee will be determined by calculating the funding costs
incurred by the Bank, based on the cost of funds at the time the
interest rate was fixed, and subtracting the interest income which can
be earned by the Bank by reinvesting the prepaid funds at the
Reinvestment Rate. The calculation is defined more fully below.
	 
	 	(d)	 	The “Fixed Interest Rate Period” is the period
during which the interest rate in effect at the time of the prepayment
does not change. If the Fixed Interest Rate Period does not extend for
the entire remaining life of the credit, then the following rules will
apply:

	 	(i)	 	For any portion of the prepaid
principal for which the scheduled payment date is after the end
of the Fixed Interest Rate Period, the prepayment fee for that
portion shall be calculated based only on the period through the
end of the Fixed Interest Rate Period, as described below.
	 
	 	(ii)	 	If a prepayment is made on a date
on which the interest rate resets, then there will be no
prepayment fee.

	 	(e)	 	The prepayment fee calculation is made
separately for each Prepaid Installment. A “Prepaid Installment” is the
amount of the prepaid principal that would have been due on a
particular scheduled payment date (the “Scheduled Payment Date”).
However, as explained in the preceding paragraph, all amounts of the
credit which would have been paid after the end of the Fixed Interest
Rate Period shall be considered a single Prepaid Installment with a
Scheduled Payment Date (for the purposes of this calculation) equal to
the last day of the Fixed Interest Rate Period.
	 
	 	(f)	 	The prepayment fee for a particular Prepaid
Installment will be calculated as follows:

	 	(i)	 	Calculate the monthly interest
payments that would have accrued on the Prepaid Installment
through the applicable Scheduled Payment Date, if the prepayment
had not been made. The interest payments will be calculated
using the Original Cost of Funds Rate.
	 
	 	(ii)	 	Next, calculate the monthly
interest income which could be earned on the Prepaid Installment
if it were reinvested by the Bank at the Reinvestment Rate
through the Scheduled Payment Date.
	 
	 	(iii)	 	Calculate the monthly
differences of the amounts calculated in (i) minus the amounts
calculated in (ii).
	 
	 	(iv)	 	If the remaining term of the
Fixed Interest Rate Period is greater than one year, calculate
the present value of the amounts calculated in (iii), using the
Reinvestment Rate. The result of the

Amendment to Loan Agreement

3

 

	 	 	 	present value calculation
is the prepayment fee for the Prepaid Installment.

	 	(g)	 	Finally, the prepayment fees for all of the
Prepaid Installments are added together. The sum, if greater than zero,
is the total prepayment fee due to the Bank.
	 
	 	(h)	 	The following definitions will apply to the
calculation of the prepayment fee:

	 	(i)	 	“Original Cost of Funds Rate”
means the fixed interest rate per annum, determined solely by
the Bank, at which the Bank would be able to borrow funds in the
Bank Funding Markets for the duration of the Fixed Interest Rate
Period in the amount of the prepaid principal and with a term,
interest payment frequency, and principal repayment schedule
matching the prepaid principal.
	 
	 	(ii)	 	“Bank Funding Markets” means one
or more wholesale funding markets available to the Bank,
including the LIBOR, Eurodollar, and SWAP markets as applicable
and available, or such other appropriate money market as
determined by the Bank in its sole discretion.
	 
	 	(iii)	 	“Reinvestment Rate” means the
fixed rate per annum, determined solely by the Bank, as the rate
at which the Bank would be able to reinvest funds in the amount
of the Prepaid Installment in the Bank Funding Markets on the
date of prepayment for a period of time approximating the period
starting on the date of prepayment and ending on the Scheduled
Payment Date.

	 	(i)	 	The Original Cost of Funds Rate and the
Reinvestment Rate are the Bank’s estimates only and the Bank is under
no obligation to actually purchase or match funds for any transaction
or reinvest any prepayment. The Bank may adjust the Original Cost of
Funds Rate and the Reinvestment Rate to reflect the compounding,
accrual basis, or other costs of the prepaid amount. The rates shall
include adjustments for reserve requirements, federal deposit
insurance and any other similar adjustment which the Bank deems
appropriate. These rates are not fixed by or related in any way to any
rate the Bank quotes or pays for deposits accepted through its branch
system.

     3. Representations and Warranties. When the Borrower signs this Amendment, the
Borrower represents and warrants to the Bank that: (a) there is no event which is, or with notice
or lapse of time or both would be, a default under the Agreement except those events, if any, that
have been disclosed in writing to the Bank or waived in writing by the Bank, (b) the
representations and warranties in the Agreement are true as of the date of this Amendment as if
made on the date of this Amendment, (c) this Amendment does not conflict with any law, agreement,
or obligation by which the Borrower is bound, and (d) if the Borrower is a business entity or a
trust, this Amendment is within the Borrower’s powers, has been duly authorized, and does not
conflict with any of the Borrower’s organizational papers.

     4. Conditions. This Amendment will be effective when the Bank receives the
following items, in form and content acceptable to the Bank:

     4.1 If the Borrower or any guarantor is anything other than a natural person,
evidence that the execution, delivery and performance by the Borrower and/or such
guarantor of this Amendment and any instrument or agreement required under this Amendment
have been duly

Amendment to Loan Agreement

4

 

     authorized.

     4.2 Payment by the Borrower of a loan fee in the amount of Five Thousand and
No/100 Dollars ($5,000.00) for the establishment of Facility No. 3.

     4.3 Payment by the Borrower of a loan renewal fee in the amount of Twelve Thousand
Five Hundred and No/100 Dollars ($12,500.00) for the extension of the
maturity date of Facility No. 1 to December 8, 2012.

     4.4 Payment by the Borrower of all costs, expenses and attorneys’ fees (including
allocated costs for in-house legal services) incurred by the Bank in connection with this
Amendment.

     4.5 All such landlord’s waivers, subordination of landlord’s liens, or other similar
instruments or agreements as Bank shall require.

     4.6 Supporting invoices for tenant improvement expenses and equipment purchases
associated with the Borrower’s move to Borrower’s new facility, in May of 2011, equal to
or greater than $714,286.00.

     5. Effect of Amendment. Except as provided in this Amendment, all of the terms and
conditions of the Agreement, including but not limited to the Dispute Resolution Provision, shall
remain in full force and effect.

     6. Counterparts. This Amendment may be executed in counterparts, each of which when
so executed shall be deemed an original, but all such counterparts together shall constitute but
one and the same instrument.

     7. Notice of Final Agreement. THIS WRITTEN AGREEMENT AND THE LOAN DOCUMENTS EXECUTED
IN CONNECTION HEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

[Remainder of Page Intentionally Left Blank — Signatures to Follow]

Amendment to Loan Agreement

5

 

     This Amendment is executed as of the date stated at the beginning of this Amendment.

	 	 	 

	Bank of America, N.A.
	By

	 	/s/ Tye McClure
	 

	 	 
	Typed Name: Tye McClure
	Title: Vice President
	 
	 	 
	Address where notices to the Bank are to be sent:
	 
	 	 
	500 West 7th Street, 2nd Floor
	Fort Worth, Texas 76102
	Facsimile: 1-800-210-1068

	 	 	 

	American Locker Group Incorporated
	 
	 	 
	By

	 	/s/ Paul Zaidins
	 

	 	 
	Typed Name: Paul Zaidins
	Title: President
	 
	 	 
	Address where notices to the Borrower are to be sent:
	 
	 	 
	P.O. Box 169
	Coppell, Texas 75019 

Telephone: 817-722-0131 

Facsimile: 817-722-0100
	 
	 	 
	American Locker Security Systems, Inc.
	 
	 	 
	By

	 	/s/ Paul Zaidins
	 

	 	 
	Typed Name: Paul Zaidins
	Title: President
	 
	 	 
	Address where notices to the Borrower are to be sent:
	 
	 	 
	P.O. Box 169
	Coppell, Texas 75019 

Telephone: 817-722-0131 

Facsimile: 817-722-0100
	 
	 	 
	[Remainder of Page Intentionally Left Blank]

Amendment to Loan Agreement

6

 

	 	 	 	 	 

	 	 	Security Manufacturing Corporation
	 
	 	 	 	 
	 

	 	By
	 	/s/ Paul Zaidins
	 

	 	 	 	 
	 	 	Typed Name: Paul Zaidins
	 	 	Title: President
	 
	 	 	 	 
	 	 	Address where notices
to the
Borrower are to be sent:
	 
	 	 	 	 
	 	 	P.O. Box 169
	 	 	Coppell, Texas 75019

Telephone: 817-722-0131

Facsimile: 817-722-0100
	 
	 	 	 	 
	 	 	Canadian Locker Company Limited
	 
	 	 	 	 
	 

	 	By
	 	/s/ Paul Zaidins
	 

	 	 	 	 
	 	 	Typed Name: Paul Zaidins
	 	 	Title: President
	 
	 	 	 	 
	 	 	Address where notices to the
Borrower are to be sent:
	 
	 	 	 	 
	 	 	P.O. Box 169
	 	 	Coppell, Texas 75019

Telephone: 817-722-0131

Facsimile: 817-722-0100

Amendment to Loan Agreement

7

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