Document:

Waiver and Amendment Agreement

 Exhibit 10.1 
 [Letterhead of Wells Fargo Capital Finance, LLC] 
 February 8, 2012 

Mad Catz, Inc. 
 7480 Mission Valley Road

 Suite 101 
 San Diego, CA 

92108 
 Dear Sirs/Mesdames: 

 

	Re:	Third Amended and Restated Credit Agreement dated June 23, 2009 (as amended by the first amending agreement dated September 30, 2010, and as further
amended, modified, supplemented, extended, renewed, restated or replaced from time to time, the “Credit Agreement”) between Wells Fargo Capital Finance, LLC (successor by merger to Wachovia Capital Finance Corporation (Central))
(“Wells Fargo”), Mad Catz, Inc. (the “Borrower”) and the Obligors. Capitalized terms not otherwise defined in this Letter Agreement shall have the meanings given to them in the Credit Agreement unless stated otherwise.

  
  
 We hereby notify you that an Event of Default (the “Existing Event of Default”) has occurred under Section 8.13 of the Credit Agreement as a result of MCII’s failure to
maintain a Fixed Charge Coverage Ratio of not less than 1.5:1.0 for the trailing 4 fiscal quarters ending December 31, 2011. The financial statements recently delivered by the Borrower to Wells Fargo indicated that such Fixed Charge Coverage
Ratio was -0.06:1.0. 
 In connection with the Existing Event of Default, you have requested that we provide this Letter Agreement to you in
order to, among other things, waive the Existing Event of Default and amend the Credit Agreement, all as specifically set out below. 
  

	1.	Limited Waiver 

 Wells Fargo hereby
waives the Existing Event of Default. 
 Notwithstanding the foregoing, the limited waiver by Wells Fargo above: 

 

	 	(a)	shall not extend to any other Default or Event of Default by the Borrower or any Obligor under the Financing Agreements; 

 

	 	(b)	shall not be construed as a waiver of any other provisions of the Financing Agreements or consent to, or waiver of, any further or future action on the part of the
Borrower or any Obligor; and 

	 	(c)	is intended to be limited to the specific purpose and intent for which same has been provided, and does not prejudice any rights or remedies that Wells Fargo may have
now or may have in the future under or in connection with the Financing Agreements. 

 Furthermore, Wells Fargo reserves its
rights and remedies at any time and from time to time arising in connection with any Defaults or Events of Default now existing or hereafter arising (other than the Existing Event of Default specifically waived above). 

 

	2.	Amendment to Credit Agreement 

  

	 	(a)	Section 8.13 of the Credit Agreement is hereby deleted and replaced with the following: 

“8.13 Fixed Charge Coverage Ratio 
 MCII shall maintain a Fixed Charge Coverage Ratio of not less than 1.5:1.0 for each Testing Period calculated at the end of each Fiscal Quarter; provided however that MCII shall not be required to
maintain this Fixed Charge Coverage Ratio covenant for the Fiscal Quarter ending March 31, 2012.” 
  

	 	(b)	This Letter Agreement is an amendment to the Credit Agreement. Unless the context of this Letter Agreement otherwise requires, the Credit Agreement and this Letter
Agreement shall be read together and shall have effect as if the provisions of the Credit Agreement and this Letter Agreement were contained in one agreement. The term “Agreement” when used in the Credit Agreement means the Credit
Agreement as amended by this Letter Agreement, together with all amendments, modifications, supplements, extensions, renewals, restatements and replacements thereof from time to time. 

 

	 	(c)	Nothing in this Letter Agreement, nor in the Credit Agreement when read together with this Letter Agreement, shall constitute a novation, payment, re-advance or
reduction or termination in respect of any Obligations. 

  

	3.	Representations and Warranties 

 In order to induce Wells Fargo to enter into this Letter Agreement, the Borrower and each Obligor, jointly and severally, represents and warrants to Wells Fargo as follows, which representations and
warranties shall survive the execution and delivery of this Letter Agreement: 
  

	 	(a)	After giving effect to this Letter Agreement: 

  

	 	(i)	all of the representations and warranties in the Credit Agreement and the other Financing Agreements are true and correct as of the date hereof;

  

	 	(ii)	each of the Borrower and the Obligors is in compliance with all the covenants contained in the Credit Agreement and the other Financing Agreements;

  

	 	(iii)	no Default or Event of Default exists or is continuing; 

  
 -2-

	 	(b)	the execution, delivery and performance of this Letter Agreement and the transactions contemplated hereunder are all within the Borrower’s and each Obligor’s
corporate powers, have been duly authorized and are not in contravention of law or the terms of the Borrower’s or each Obligor’s certificate of incorporation, by-laws or other organizational documentation, or any indenture, agreement or
undertaking to which the Borrower or an Obligor is a party or by which the Borrower’s or an Obligor’s property is bound; 

  

	 	(c)	each of the Borrower and the Obligors have duly executed and delivery this Letter Agreement; and 

 

	 	(d)	this Letter Agreement constitutes a legal, valid and binding obligation of the Borrower and each Obligor, enforceable against them by Wells Fargo in accordance with the
terms of this Letter Agreement. 

  

	4.	General  

  

	 	(a)	The Credit Agreement, as amended by this Letter Agreement, shall continue in full force and effect and the rights and obligations of all parties thereunder shall not be
affected or prejudiced in any manner except as specifically provided for herein. 

  

	 	(b)	It is agreed and confirmed that after giving effect to this Letter Agreement, all security and guarantees delivered by the Borrower and each Obligor secures the payment
and performance of all of the Obligations including, without limitation, the obligations, liabilities and indebtedness arising under the Credit Agreement. 

  

	 	(c)	The Borrower and each Obligor shall execute and deliver such documents and take such actions as may be necessary or desirable by Wells Fargo to give effect to the
provisions and purposes of this Letter Agreement, all at the expense of the Borrower and each Obligor. 

  

	 	(d)	The Borrower agrees to pay Wells Fargo a $5,000 amendment fee upon the Borrower’s execution of this Letter Agreement. 

 

	 	(e)	The Borrower and each Obligor shall pay all fees, expenses and disbursements including, without limitation, legal fees, incurred by or payable to Wells Fargo in
connection with the preparation, negotiation, execution, delivery, review and enforcement of this Letter Agreement and all other documents and instruments arising therefrom and/or executed in connection therewith. 

 

	 	(f)	This Letter Agreement may be executed and delivered by facsimile or pdf and in any number of counterparts, each of which when so executed and delivered is an original
and all of which taken together constitute one and the same instrument. 

  

	 	(g)	This Letter Agreement shall be governed by the laws of the State of Illinois. 

 

	 	(h)	This Letter Agreement is a Financing Agreement. 

  
 -3-

 If the foregoing correctly sets out our agreement, please indicate your acceptance of the terms and
conditions of this Letter Agreement by signing below and returning an executed copy to us by no later than 5:00 p.m. on February 8, 2012 after which time, if not accepted by you, this Letter Agreement shall be null and void. 

Yours truly, 
  

					
	WELLS FARGO CAPITAL FINANCE, LLC
		
	Per:	 	 /s/ Sean M. Noonan

		 	 Name: Sean M. Noonan
 Title: Vice President, Relationship Manager           Wells Fargo Capital Finance
           Corporation Canada

 Acknowledged and accepted this 8th day of February, 2012. 
  

									
	MAD CATZ, INC.	 		 	MAD CATZ INTERACTIVE, INC.
					
	Per:  	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	 Name: Darren Richardson

Title: President & CEO
	 		 		 	 Name: Darren Richardson

Title: President & CEO

			
	1328158 ONTARIO INC.	 		 	WINKLER ATLANTIC HOLDINGS LIMITED
					
	Per:  	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	 Name: Darren Richardson

Title: President
	 		 		 	 Name: Darren Richardson

Title: Director

			
	MAD CATZ EUROPE LIMITED	 		 	MAD CATZ INTERACTIVE ASIA LIMITED
					
	Per:  	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	 Name: Darren Richardson

Title: Director
	 		 		 	 Name: Darren Richardson

Title: Director

			
	FX UNLIMITED, INC.	 		 	MAD CATZ GMBH (FORMERLY SAITEK ELEKTRONIK VERTRIEBS GMBH)

  
 -4-

									
					
	Per:  	 	 /s/ DARREN RICHARDSON
	 		 	Per:	 	 /s/ DARREN RICHARDSON

		 	 Name: Darren Richardson

Title: President
	 		 		 	 Name: Darren Richardson

Title: Director

  
 -5-EX-10.1

 Exhibit 10.1 
 FOURTH AMENDMENT TO CREDIT AGREEMENT 
 THIS FOURTH AMENDMENT TO
CREDIT AGREEMENT (this “Amendment”) is entered into as of December 14, 2011 by and among DYNAVOX SYSTEMS LLC, a Delaware limited liability company (“Borrower”), DYNAVOX INTERMEDIATE LLC, a
Delaware limited liability company (“Holdings”), DynaVox Services Inc., a Delaware corporation (“Services”), Blink-Twice LLC, a Delaware limited liability company (“Blink-Twice”), Mayer-Johnson LLC,
a Delaware limited liability company (“Mayer-Johnson”), DynaVox International Holdings Inc., a Delaware corporation (“International”), EYE RESPONSE TECHNOLOGIES, INC., a Virginia corporation (“ERT”;
Borrower, Holdings, Services, Blink-Twice, Mayer-Johnson, International and ERT are collectively referred to herein as the “Credit Parties” and each individually as a “Credit Party”), GE BUSINESS FINANCIAL
SERVICES INC. (in its individual capacity, “GE BFS”), as agent (in such capacity, together with its successors and assigns in such capacity, “Agent”) for the several financial institutions from time to time
party to the Credit Agreement (collectively, the “Lenders” and each individually a “Lender”), and for itself as a Lender, and such Lenders signatory hereto. 

W I T N E S S E T H: 
 WHEREAS, Borrower, Agent and the Lenders have entered into that certain Third Amended and Restated Credit Agreement dated as of June 23, 2008 (as amended, modified, restated or otherwise
supplemented from time to time, the “Credit Agreement”); 
 WHEREAS, Borrower has requested that Agent
and the Required Lenders amend the Credit Agreement in certain respects as set forth herein; and 
 WHEREAS, Agent and
the Required Lenders are willing to make such amendments subject to the terms, conditions and other provisions hereof. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, the parties agree as
follows: 
 I. Defined Terms. Capitalized terms used but not defined herein shall have the meanings ascribed
to them in the Credit Agreement (as amended hereby). 
 II. Amendment. Subject to the conditions set forth
below, and in reliance upon the representations and warranties of the Credit Parties set forth in the Credit Agreement and in this Amendment, the Credit Agreement is hereby amended as follows: 

(1) Section 5.4 of the Credit Agreement is hereby amended by (i) deleting the word “and” at the end of each of
clause (e) thereof, (ii) deleting the “.” at the end of clause (f) thereof and substituting the phrase “; and” in lieu thereof and (iii) adding a new clause (g) thereto to read as follows: 

“(g) purchases by Ultimate Holdings of shares of equity interests in Ultimate Holdings promptly after its receipt of
such Restricted Distribution so long as (i) before and after giving effect to any such dividend or distribution for such purpose, no Event of Default shall have occurred and be continuing and (ii) such purchases or payments after
December 14, 2011 do not exceed $5,000,000 in the aggregate.” 

 (2) Exhibit B to the Credit Agreement is deleted in its entirety and
Exhibit A attached hereto is substituted in lieu thereof. 
 III. Conditions Precedent. The
effectiveness of this Amendment is subject to the satisfaction of the following conditions precedent or concurrent: 
 (1)
the execution and delivery of this Amendment by each of the Credit Parties, Agent and the Required Lenders; 
 (2) all
representations and warranties by any Credit Party contained herein or in any other Financing Document shall be true and correct in all material respects on and as of the date hereof or, to the extent such representations and warranties expressly
relate to an earlier date, on and as of such earlier date; and 
 (3) before and after giving effect hereto, no Default or
Event of Default under the Credit Agreement shall have occurred and be continuing. 
 IV. Representations and
Warranties. Each Credit Party, jointly and severally, hereby represents and warrants to Agent and each Lender as follows: 
 (1) The execution, delivery and performance by each Credit Party of this Amendment and each other document, agreement and instrument executed by such Credit Party in connection herewith are within
its powers, have been duly authorized by all necessary action pursuant to its Organizational Documents, require no further action by or in respect of, or filing with, any governmental body, agency or official except for actions or filings, the
failure with respect to which could not reasonably be expected to have a Material Adverse Effect, and do not violate, conflict with or cause a breach or a default under any provision of applicable law or regulation or of the Organizational Documents
of any Credit Party or of any agreement, judgment, injunction, order, decree or other instrument binding upon it, except for such violations, conflicts, breaches or defaults as could not reasonably be expected to have a Material Adverse Effect;

 (2) this Amendment and each other document, agreement and instrument executed by such Credit Party in connection
herewith constitutes a valid and binding agreement or instrument of such Credit Party, enforceable against such Credit Party in accordance with its respective terms, subject to the effects of (i) insolvency, fraudulent conveyance,
reorganization, moratorium and bankruptcy or other similar laws relating to or affecting creditors’ rights generally, (ii) general equitable principles (whether considered in a proceeding in equity or at law) and (iii) any implied
covenant of good faith and fair dealing; and 
 (3) no Default or Event of Default exists. 

  
 2 

 V. No Waiver. Except as expressly set forth herein, nothing contained
herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Credit Agreement or any of the other Financing Documents or constitute a course of conduct or dealing among the parties. Except as expressly
stated herein, (a) Agent and Lenders reserve all rights, privileges and remedies under the Financing Documents, and (b) the Credit Agreement and other Financing Documents remain unmodified and in full force and effect. 

VI. References. Any reference to the Credit Agreement contained in any document, instrument or agreement executed in
connection with the Credit Agreement, including, without limitation, any Financing Document, shall be deemed to be a reference to the Credit Agreement as modified by this Amendment. This Amendment shall be deemed to be a Financing Document.

 VII. Counterparts. This Amendment may be executed and delivered via facsimile or other electronic
transmission with the same force and effect as if an original were executed and may be executed by one or more of the parties to this Amendment and any number of separate counterparts, each of which when so executed, shall be deemed an original and
all said counterparts when taken together shall be deemed to constitute but one and the same instrument. 
 VIII.
Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of Borrower and each other Credit Party and their successors and assigns and Agent and the Lenders and their successors and assigns. 

IX. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 X. Severability. Wherever
possible, each provision of this Amendment shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Amendment shall be prohibited by or invalid under such law, such provision shall be
ineffective to the extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Amendment. 
 XI. Reaffirmation. Each of the Credit Parties as debtor, grantor, pledgor, guarantor, assignor, or in other any other similar capacity in which such Credit Party grants liens or
security interests in its property or otherwise acts as accommodation party or guarantor, as the case may be, hereby: (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the
Financing Documents to which it is a party (after giving effect hereto) and (ii) to the extent such Credit Party granted liens on or security interests in any of its property pursuant to any such Financing Document as security for or
otherwise guaranteed the Obligations under or with respect to the Financing Documents, ratifies and reaffirms such guarantee and grant of security interests and liens and confirms and agrees that such security interests and liens hereafter secure
all of the Obligations. Each of the Credit Parties hereby consents to this Amendment and acknowledges that each of the Financing Documents remains in full force and effect and is hereby ratified and reaffirmed. Except as specifically provided
hereunder, the execution of this Amendment shall not operate as a waiver of any right, power or remedy of Agent or the Lenders, constitute a waiver of any provision of any of the Financing Documents or serve to effect a novation of the Obligations.

  
 3 

 – Remainder of Page Intentionally Blank; Signature Page Follows –

  
 4 

 IN WITNESS WHEREOF, each of the undersigned has executed this Amendment as of the date set
forth above. 
  

					
	BORROWER:
	
	DYNAVOX SYSTEMS LLC
		
	By:	 	/s/ Edward L. Donnelly
		 	  Name:	 	 Edward L. Donnelly

		 	  Title:	 	Chief Executive Officer

  

					
	OTHER LOAN PARTIES:
	
	DYNAVOX INTERMEDIATE LLC
		
	By:	 	/s/ Edward L. Donnelly
		 	  Name:	 	Edward L. Donnelly
		 	  Title:	 	Chief Executive Officer

  

					
	DYNAVOX SERVICES INC.
		
	By:	 	/s/ Edward L. Donnelly
		 	  Name:	 	Edward L. Donnelly
		 	  Title:	 	Chief Executive Officer

  

					
	BLINK-TWICE SYSTEMS LLC
		
	By:	 	/s/ Edward L. Donnelly
		 	  Name:	 	 Edward L. Donnelly

		 	  Title:	 	Chief Executive Officer

  

					
	EYE RESPONSE TECHNOLOGIES, INC.
		
	By:	 	/s/ Edward L. Donnelly
		 	  Name:	 	 Edward L. Donnelly

		 	  Title:	 	Chief Executive Officer

 Fourth Amendment to Credit Agreement 

  

					
	MAYER-JOHNSON LLC
	
	By: DynaVox Systems LLC, its sole member
		
	    By:	 	 /s/ Edward L. Donnelly

		 	Name:	 	Edward L. Donnelly
		 	Title:	 	Chief Executive Officer
	
	DYNAVOX INTERNATIONAL HOLDINGS INC.
		
	By:	 	 /s/ Edward L. Donnelly

		 	Name:	 	Edward L. Donnelly
		 	Title:	 	Chief Executive Officer

 Fourth Amendment to Credit Agreement 

 IN WITNESS WHEREOF, each of the undersigned has executed this Amendment as of the date set
forth above. 
  

					
	 GE BUSINESS FINANCIAL SERVICES INC., as
 Agent and a Lender

		
	By:	 	 /s/ Keith Bird

		 	    Name:	 	Keith Bird
		 	    Title:	 	Duly Authorized Signatory

 Fourth Amendment to Credit Agreement 

 IN WITNESS WHEREOF, each of the undersigned has executed this Amendment as of the date set
forth above. 
  

					
	TriState Capital Bank, as a Lender
		
	By:	 	 /s/ Anne M. Westbrook

		 	Name:	 	Anne M. Westbrook
		 	Title:	 	Relationship Manager, VP

 Fourth Amendment to Credit Agreement 

 IN WITNESS WHEREOF, each of the undersigned has executed this Amendment as of the date set
forth above. 
  

					
	Bank of Montreal, as a Lender
		
	By:	 	 /s/ Andrew J. Pluta

		 	Name:	 	Andrew J. Pluta
		 	Title:	 	Director

 Fourth Amendment to Credit Agreement 

 IN WITNESS WHEREOF, each of the undersigned has executed this Amendment as of the date set
forth above. 
  

					
	PNC Bank, N.A., as a Lender
		
	By:	 	 /s/ Brent R. Schweikle

		 	Name:	 	Brent R. Schweikle
		 	Title:	 	Senior Vice President

 Fourth Amendment to Credit Agreement 

 Exhibit A 

EXHIBIT B TO CREDIT AGREEMENT (COMPLIANCE
CERTIFICATE) 
 COMPLIANCE CERTIFICATE 

DYNAVOX SYSTEMS LLC 
 DATE:                     ,         

 This certificate is given by
                    , a Responsible Officer of DynaVox Systems LLC (“Borrower”), pursuant to Section 4.1(c) of that certain
Third Amended and Restated Credit Agreement dated as of June 23, 2008 among Borrower, the Lenders from time to time party thereto and GE Business Financial Services Inc. (formerly known as Merrill Lynch Business Financial Services Inc.), as
Agent for Lenders (as such agreement may have been amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein without definition shall have the meanings set forth
in the Credit Agreement. 
 The undersigned Responsible Officer hereby certifies to Agent and Lenders that: 

(a) the financial statements delivered with this certificate in accordance with Section 4.1(b) and/or 4.1(n) of the Credit Agreement
fairly present in all material respects the results of operations and financial condition of Ultimate Holdings and its direct and indirect Subsidiaries as of the dates of such financial statements; 

(b) I have reviewed the terms of the Credit Agreement and have made, or caused to be made under my supervision, a review in reasonable
detail of the transactions and conditions of Borrower and the Subsidiaries during the accounting period covered by such financial statements; 
 (c) such review has not disclosed the existence during or at the end of such accounting period, and I have no knowledge of the existence as of the date hereof, of any condition or event that constitutes a
Default or an Event of Default, except as set forth in Schedule 1 hereto, which includes a description of the nature and period of existence of such Default or an Event of Default and what action Borrower has taken, is undertaking and proposes to
take with respect thereto; and 
 (d) to the extent that this Certificate is delivered with respect to the end of a fiscal
quarter of Borrower, Borrower is in compliance with the covenants contained in Article VI of the Credit Agreement, as demonstrated by the calculation of such covenants below, except as set forth in Schedule 1 hereto. 

IN WITNESS WHEREOF, the undersigned officer has executed and delivered this certificate this
                    day 
 of
                    ,    . 

  

			
	By:	 	 
	Name:	 	
	Title	 	                             
            of Borrower

 CAPITAL EXPENDITURES 

(SECTION 6.1) 
  

							
	 Capital Expenditures for the applicable measurement period (the “Defined Period”) are defined as
follows:
	  			
		
	Amount capitalized during the Defined Period by Borrower and its Subsidiaries as capital expenditures for property, plant, and equipment or similar fixed asset accounts,
including any such expenditures by way of acquisition of a Person or by way of assumption of Debt or other obligations, to the extent reflected as plant, property and equipment	  	$	                	  
		  		  	  
	  
	 
	Plus:	  	deposits made in the Defined Period in connection with property, plant, and equipment; less deposits of a prior period included above	  			
		  		  	  
	  
	 
	 Less:
	  	Net Cash Proceeds of Asset Dispositions received during the Defined Period which (i) Borrower or a Subsidiary is permitted to reinvest pursuant to the terms of the Credit
Agreement and (ii) are included in capital expenditures above	  			
		  		  	  
	  
	 
		  	Proceeds of Property Insurance Policies received during the Defined Period which (i) Borrower or a Subsidiary is permitted to reinvest pursuant to the terms of the Credit
Agreement and (ii) are included in capital expenditures above	  			
		  		  	  
	  
	 
		
	Capital Expenditures	  	$	 	  
		  		  	  
	  
	 
	 Less:
	  	Portion of Capital Expenditures financed during the Defined Period under Capital Leases or other Debt (Debt, for this purpose, does not include drawings under the Revolving Loan
Commitment)	  			
		  		  	  
	  
	 
	Unfinanced Capital Expenditures (used in calculation of Operating Cash Flow (defined in Section 6.3 of the Compliance Certificate))	  	$	 	  
		  		  	  
	  
	 
	 Capital Expenditures (from above)
	  			
		
	 Permitted Capital Expenditures
	  	$	                	  
		  		  	  
	  
	 
	 In Compliance
	  	 	Yes/No	  

 EBITDA 

 

							
	 EBITDA for the applicable measurement period (the “Defined Period”) is defined as
follows:
	  			
		
	Net income (or loss) for the Defined Period of Borrower and its Subsidiaries, but excluding: (a) the income (or loss) of any Person (other than Subsidiaries of
Borrower) in which Borrower or any of its Subsidiaries has an ownership interest unless received by Borrower or its Subsidiary in a cash distribution; and (b) the income (or loss) of any Person accrued prior to the date it became a Subsidiary
of Borrower or is merged into or consolidated with Borrower	  	$	                	  
		  		  	  
	  
	 
	 Plus:
	  	Any provision for (or less any benefit from) income and franchise taxes included in the determination of net income for the Defined Period	  			
		  		  	  
	  
	 
		  	Interest expense, net of interest income, deducted in the determination of net income for the Defined Period	  			
		  		  	  
	  
	 
		  	Amortization and depreciation deducted in the determination of net income for the Defined Period	  			
		  		  	  
	  
	 
		  	Losses (or less gains) from Asset Dispositions or sales of securities included in the determination of net income for the Defined Period (excluding sales, expenses or losses related
to current assets)	  			
		  		  	  
	  
	 
		  	Other non-cash losses (or less gains) included in the determination of net income for the Defined Period and for which no cash outlay (or cash receipt) is foreseeable	  			
		  		  	  
	  
	 
		  	Expenses and fees included in the determination of net income and incurred during the Defined Period to consummate the transactions contemplated by the Operative Documents, but
solely to the extent disclosed in writing to Agent prior to the Third Restatement Effective Date	  			
		  		  	  
	  
	 
		  	Extraordinary losses (or less gains) included in the determination of net income during the Defined Period, net of related tax effects	  			
		  		  	  
	  
	 
		  	Unusual or non-recurring losses, expenses, charges, severance costs, signing costs, retention or completion bonuses, transition costs and relocation costs; provided, that, the
aggregate amount of such add-backs for any Defined Period shall not exceed ten percent (10%) of EBITDA (without giving effect to this add-back)	  			
		  		  	  
	  
	 
		  		  			
		  		  	  
	  
	 

									
		  		  	Non-cash expenses resulting from the grant of stock and stock options and other compensation to management personnel of Borrower or its Subsidiaries pursuant to a written plan or
agreement or the treatment of such options under variable plan accounting for the Defined Period	  			
		  		  		  	  
	  
	 
		  		  	Step-up in asset valuation as a result of purchase accounting applied during the Defined Period in connection with any Permitted Acquisition	  			
		  		  		  	  
	  
	 
		  		  	Payments under non-competition agreements (including, without limitation, the Enkidu Non-Compete Agreements) for the Defined Period	  			
		  		  		  	  
	  
	 
		  		  	Non-cash asset write-offs or impairment charges for the Defined Period	  			
		  		  		  	  
	  
	 
		  		  	Management fees to the Investors paid in cash during the Defined Period to the extent permitted to be paid under Section 5.13 of the Credit Agreement and to the extent deducted
in the determination of net income for the Defined Period	  			
		  		  		  	  
	  
	 
		  		  	EBITDA, if any, of any Person acquired during the Defined Period attributable to a Permitted Acquisition (including the portion thereof occurring prior to such Permitted
Acquisition) with such pro forma adjustments as are reasonably acceptable to Agent based upon data presented to Agent to its reasonable satisfaction	  			
		  		  		  	  
	  
	 
		  		  	Non-recurring expenses and fees incurred during the Defined Period attributable to a Permitted Acquisition to the extent such non-recurring expenses and fees are disclosed in
writing to Agent in reasonable detail	  			
		  		  		  	  
	  
	 
		  		  	Non-recurring expenses and fees incurred during the Defined Period attributable to the IPO and the redemption of the Third Restatement Subordinated Debt with the proceeds of the IPO
to the extent such non-recurring expenses and fees are disclosed in writing to Agent in reasonable detail	  			
		  		  		  	  
	  
	 
	 EBITDA for the Defined Period
	  	$	 	  
		  		  		  	  
	  
	 

 FIXED CHARGE COVERAGE RATIO 

(SECTION 6.3) 
  

							
	Fixed Charge Coverage Ratio for the applicable measurement period (the “Defined Period”) is defined as follows:	  			
		
	Fixed Charges: Cash interest expense ($            ), net of interest income
($            ) included in the determination of net income of Borrower and its Subsidiaries for the Defined Period (“Total Interest Expense”)	  	$	 	  
		  		  	  
	  
	 
	 Plus:
	  	Cash taxes paid during the Defined Period (“Cash Taxes”)	  			
		  		  	  
	  
	 
		  	Scheduled payments of principal for the Defined Period with respect to all Debt (including the portion of scheduled payments under Capital Leases allocable to principal but
excluding prepayments and excluding scheduled repayments of Revolving Loans and other Debt subject to re-borrowing to the extent not accompanied by a concurrent and permanent reduction of the Revolving Loan Commitment (or equivalent loan
commitment)) (“Payments of Principal”) (for the sake of clarity, scheduled payments of principal with respect to the Term Loan shall be equal to the amounts set forth in Section 2.6(b) of the Credit Agreement with respect to
the applicable Defined Period after giving effect to any reduction thereof as a result of any optional or mandatory prepayments)	  			
		  		  	  
	  
	 
		  	Restricted Distributions (other than (a) loans to officers and employees permitted by Section 5.4(c) of the Credit Agreement and (b) distributions to Holdings for the
repurchase of equity interests or options therefor from directors or employees permitted by Section 5.4(a) of the Credit Agreement) made by Borrower in cash during the Defined Period	  			
		  		  	  
	  
	 
		  	Management fees to the Investors paid in cash during the Defined Period to the extent permitted to be paid under Section 5.13 of the Credit Agreement and to the extent deducted
in the determination of net income for the Defined Period	  			
		  		  	  
	  
	 
	Fixed Charges	  	$	 	  
		  		  	  
	  
	 
	Operating Cash Flow:	  			
		
	EBITDA for the Defined Period (calculated in the manner required by the Compliance Certificate)	  	$	                	  
		  		  	  
	  
	 
	 Less:
	  	Unfinanced Capital Expenditures for the Defined Period (calculated in the manner required by the Compliance Certificate)	  			
		  		  	  
	  
	 
		  	 Operating Cash Flow
	  	$	 	  
		  		  	  
	  
	 
		  	 Fixed Charge Coverage Ratio (Ratio of Operating Cash Flow to Fixed Charges) for the Defined Period
	  	 	to 1.0	  
			
		  	 Minimum Fixed Charge Coverage for the Defined Period
	  	 	to 1.0	  
			
		  	 In Compliance
	  	 	Yes/No	  

 NET SENIOR DEBT TO EBITDA RATIO 

(Section 6.4) 
  

							
	Net Senior Debt:	  			
	Net Total Debt (calculated in the manner required by Section 6.5 of the Compliance Certificate)	  	$	                	  
		  		  	  
	  
	 
	 Less:
	  	The aggregate principal amount of the Third Restatement Subordinated Debt, the Debt evidenced by the Enkidu Seller Note and any other subordinated debt permitted under the Credit
Agreement as of the last day of the Defined Period	  			
		  		  	  
	  
	 
	Net Senior Debt	  	$	 	  
		  		  	  
	  
	 
	EBITDA for the Defined Period (calculated in the manner required by the Compliance Certificate)	  	$	 	  
		  		  	  
	  
	 
	Ratio of Net Senior Debt to EBITDA for the Defined Period	  	 	to 1.0	  
		
	Maximum Permitted Ratio of Net Senior Debt to EBITDA for the Defined Period	  	 	to 1.0	  
		
	In Compliance	  	 	Yes/No	  

 NET TOTAL DEBT TO EBITDA RATIO 

(SECTION 6.5) 
  

							
	Net Total Debt:	  			
	Average daily principal balance of the Revolving Loans for the one month period ending on the last day of the applicable measurement period (the “Defined
Period”)	  	$	                	  
		  		  	  
	  
	 
	 Plus:
	  	Outstanding principal balance of the Term Loan as of the last day of the Defined Period	  			
		  		  	  
	  
	 
		  	Outstanding principal balance of all other Debt of Borrower and its Subsidiaries as of the last day of the Defined Period	  			
		  		  	  
	  
	 
	 Less:
	  	Borrower’s cash and Cash Equivalents of up to $5,000,000 as indicated on Borrower’s most recent balance sheet submitted pursuant to Section 4.1 of the Credit
Agreement	  			
		  		  	  
	  
	 
	Net Total Debt	  	$	 	  
		  		  	  
	  
	 
	EBITDA for the Defined Period (calculated in the manner required by the Compliance Certificate)	  	$	 	  
		  		  	  
	  
	 
	Ratio of Net Total Debt to EBITDA for the Defined Period	  	 	to 1.0	  
		
	Maximum Permitted Ratio of Net Total Debt to EBITDA for the Defined Period	  	 	to 1.0	  
		
	In Compliance	  	 	Yes/No

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00198-of-00352.parquet"}]]