Document:

exv10w2w2

 

EXHIBIT 10.2.2

NINTH AMENDMENT

TO

LOAN AGREEMENT

     This Ninth Amendment To Loan Agreement is entered into as of May 2, 2007 (the
“Amendment”), by and among Comerica Bank (“Bank”), Safeguard Delaware, inc.
(“Safeguard Delaware”) and Safeguard Scientifics (Delaware), Inc. 
(“Safeguard Scientifics”; Safeguard Scientifics and Safeguard Delaware are sometimes referred to,
individually, as a “Borrower” and collectively, as the “Borrowers”).

Recitals

     Borrowers and Bank are parties to that certain Loan Agreement dated as of May 10, 2002, as
amended from time to time, including without limitation by a First Amendment to Loan Agreement
dated as of May 5, 2003, a Second Amendment to Loan Agreement dated as of February 12, 2004, a
Third Amendment to Loan Agreement dated as of May 8, 2004, a Fourth Amendment to Loan Agreement
dated as of September 30, 2004, a Fifth Amendment to Loan Agreement dated as of May 2, 2005, a
Sixth Amendment to Loan Agreement dated as of August 1, 2005, a Seventh Amendment to Loan Agreement
dated as of May 4, 2006 and an Eighth Amendment to Loan Agreement dated as of February 28, 2007 (as
so amended, the “Agreement”). The parties desire to further amend the Agreement in accordance with
the terms of this Amendment.

     Now, Therefore, the parties agree as follows:

     1. The following definitions are hereby amended in Section 1 of the Agreement to read as
follows:

          “Revolving Line” means aggregate Credit Extensions of up to Seventy Five Million
Dollars ($75,000,000).

          “Revolving Maturity Date” means June 30, 2008.

     2. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as
defined in the Agreement. The Agreement, as amended hereby, shall be and remain in full force and
effect in accordance with its respective terms and hereby is ratified and confirmed in all
respects. Each Borrower ratifies and reaffirms the continuing effectiveness of the Agreement and
all instruments, documents and agreements entered into in connection with the Agreement, in each
case, as amended hereby.

     3. Each Borrower represents and warrants that the Representations and Warranties contained in
the Agreement are true and correct as of the date of this Amendment, except (i) to the extent such
representations and warranties expressly relate to an earlier date, which representations and
warranties are true and correct as of such date; and (ii) for those changes to the representations
and warranties resulting from events, occurrences or circumstances permitted under the applicable
Loan Documents, and that no Event of Default has occurred and is continuing.

     4. This Amendment may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one instrument.

     5. As a condition to the effectiveness of this Amendment, Bank shall have received, in form
and substance satisfactory to Bank, the following:

	 	(a)	 	this Amendment, duly executed by Borrowers;
	 
	 	(b)	 	corporate resolutions to borrow, duly executed by each Borrower;
	 
	 	(c)	 	an amount equal to all Bank Expenses incurred through the date of this Amendment; and
	 
	 	(d)	 	such other documents, and completion of such other matters, as Bank may reasonably deem
necessary or appropriate.

 

 

     IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written.

	 	 	 	 	 
	 	 	SAFEGUARD DELAWARE, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Steven J. Feder
	 

	 	 	 	 
	 

	 	Title:
	 	Vice President
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	SAFEGUARD SCIENTIFICS
(DELAWARE), INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Steven J. Feder
	 

	 	 	 	 
	 

	 	Title:
	 	Vice President
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	COMERICA BANK
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Jessica Breuer
	 

	 	 	 	 
	 

	 	Title:
	 	Corporate Banking Officerexv10w2w3

 

EXHIBIT 10.2.3

AMENDMENT AND AFFIRMATION OF GUARANTY

     This AMENDMENT AND AFFIRMATION OF GUARANTY (the “Affirmation”) is made as of May 2, 2007, by
the undersigned (“Guarantor”) for the benefit of COMERICA BANK (“Bank”).

RECITALS

     Bank, SAFEGUARD DELAWARE, INC. and SAFEGUARD SCIENTIFICS (DELAWARE), INC. (collectively, the
“Borrower”) are parties to that certain Loan Agreement dated as of May 10, 2002, as amended from
time to time (the “Loan Agreement”). Guarantor executed for the benefit of Bank an Unconditional
Guaranty dated as of even date with the Loan Agreement (the “Guaranty”), guarantying amounts owing
by Borrower to Bank. Borrower and Bank propose to enter into a Ninth Amendment to Loan Agreement
of even date herewith (the “Amendment”), which amends the Loan Agreement by issuing additional
credit and extending the maturity date thereof. Bank has agreed to enter into the Amendment
provided, among other things, that Guarantor consents to the Amendment and related documents and
agrees that the Guaranty will remain effective with respect to all of the Borrower’s Obligations
(as defined in the Loan Agreement) as modified by the Amendment and otherwise.

AGREEMENT

     NOW, THEREFORE, the parties agree as follows:

     1. The last sentence of the introductory paragraph of the Guaranty is amended to read as
follows: “The liability of Guarantor hereunder shall be unlimited. If Borrower does not pay any
amount or perform its obligations in strict accordance with the Agreements, Guarantor shall
immediately pay all amounts due thereunder (including, without limitation, all principal, interest,
and fees) and otherwise to proceed to complete the same and satisfy all of Borrower’s obligations
under the Agreements.”

     2. Guarantor consents to the execution, delivery and performance by Borrower of the Amendment
and the documents and instruments executed in connection therewith. The Guaranty is and shall
remain in full force and effect with respect to all of Borrower’s Obligations (as defined in the
Loan Agreement) as modified by the Amendment and otherwise. Guarantor confirms that Guarantor has
no defenses against its obligations under the Guaranty.

     3. The Guaranty is and shall remain in full force and effect in accordance with its respective
terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein,
the execution, delivery, and performance of this Affirmation shall not operate as a waiver of, or
as an amendment of, any right, power, or remedy of Bank under the Guaranty, as in effect prior to
the date hereof. Guarantor ratifies and reaffirms the continuing effectiveness of all instruments,
documents and agreements entered into in connection with the Guaranty.

     4. Guarantor represents and warrants that the Representations and Warranties contained in the
Guaranty are true and correct as of the date of this Affirmation. Unless otherwise defined, all
capitalized terms in this Affirmation shall be as defined in the Guaranty. This Affirmation may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one instrument.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

     IN WITNESS WHEREOF, the undersigned Guarantor and Bank have executed this Affirmation of
Guaranty as of the first date above written.

	 	 	 	 	 
	 	 	SAFEGUARD SCIENTIFICS, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Steven J. Feder
	 

	 	 	 	 
	 

	 	Title:
	 	Senior Vice President and General Counsel
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	COMERICA BANK
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Jessica Breuer
	 

	 	 	 	 
	 

	 	Title:
	 	Corporate Banking Officerexv10w3w4

 

EXHIBIT 10.3.4

FIRST AMENDMENT AND WAIVER

TO

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

(Non-Guaranteed Line)

     This First Amendment and Waiver to Amended and Restated Loan and Security Agreement is entered
into as of May 2, 2007 (the “Amendment”), by and between COMERICA BANK (“Bank”), ALLIANCE
CONSULTING GROUP ASSOCIATES, INC. (“Consulting”) and ALLIANCE HOLDINGS, INC., (“Holdings”;
Consulting and Holdings are referred to herein individually as a “Borrower” and collectively, the
“Borrowers”).

RECITALS

     Borrowers and Bank are parties to that certain Amended and Restated Loan and Security
Agreement dated as of February 28 , 2007 (the “Agreement”). The parties desire to amend the
Agreement in accordance with the terms of this Amendment.

     NOW, THEREFORE, the parties agree as follows:

     1. The following defined term is amended to read as follows:

“Revolving Line” means a credit extension of up to Twelve Million Five Hundred Thousand
Dollars ($12,500,000).

     2. Section 6.8 of the Agreement is amended to read as follows:

6.8 Profitability. As of the last day of each month, Borrowers on a
consolidated basis shall maintain pre-tax profit as indicated for the three months
immediately preceding each date of measurement:

	 	 	 
	Period Measured	 	Pre-tax Profit (Loss)
	April 30, 2007
	 	($1,150,000)
	May 31, 2007
	 	($850,000)
	June 30, 2007
	 	($750,000)
	July 31, 2007
	 	($500,000)
	August 31, 2007
	 	($250,000)
	September 30, 2007
	 	$1
	October 31, 2007
	 	$1
	November 30, 2007
	 	$1
	December 31, 2007
	 	$250,000
	January 31, 2008 and thereafter
	 	To be determined based on FY 08 forecast

     3. The reference in Section 6.9 to “October 31, 2007” is amended to read “December 31, 2007”.

     4. Bank waives Borrower’s failure to comply with Section 6.8 of the Agreement for the month
ending March 31, 2007.

     5. The Borrowing Base Certificate is amended to be in substantially the form of attached
Exhibit C.

     6. The Compliance Certificate is revised to be in substantially the form of attached Exhibit
D.

     7. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as
defined in the Agreement. The Agreement, as amended hereby, shall be and remains in full force and
effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except
as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the
Agreement, as in effect prior to the date hereof. Each Borrower ratifies and reaffirms the
continuing effectiveness of all instruments, documents and agreements entered into in connection
with the Agreement.

1

 

     8. Except as set forth in the Schedule of Exceptions originally provided by Borrowers to Bank
in connection with the Agreement and any updated Schedule of Exceptions provided by Borrowers to
Bank, each Borrower represents and warrants that the representations and warranties contained in
the Agreement are true and correct as of the date of this Amendment, and that no Event of Default
has occurred and is continuing.

     9. This Amendment may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one instrument.

     10. As a condition to the effectiveness of this Amendment, Bank shall have received, in form
and substance satisfactory to Bank, the following:

          (a) this Amendment, duly executed by Borrowers;

          (b) an amendment fee equal to $3,500 plus an amount equal to all Bank Expenses incurred
through the date of this Amendment;

          (c) Affirmation of Subordination (Safeguard Scientifics, Inc.); and

          (d) such other documents, and completion of such other matters, as Bank may reasonably deem
necessary or appropriate.

     IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written.

	 	 	 	 	 
	 	 	ALLIANCE HOLDINGS, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Steven J. Feder
	 

	 	 	 	 
	 

	 	Title:
	 	Vice President
	 

	 	 	 	 
	 
	 	 
	 	 	ALLIANCE CONSULTING GROUP ASSOCIATES, INC.
	 
	 	 
	 

	 	By:
	 	/s/ James P. Dandy
	 

	 	 	 	 
	 

	 	Title:
	 	/s/ Vice President of Finance
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	COMERICA BANK
	 
	 	 
	 

	 	By:
	 	/s/ Charles R. Bowman
	 

	 	 	 	 
	 

	 	Title:
	 	Vice President
	 

	 	 	 	 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]