Document:

Amendment No.4 to Second Amended and Restated Business Loan Agreement

 
EXHIBIT 10.69

 
AMENDMENT NO. 4 
SECOND AMENDED AND RESTATED BUSINESS LOAN AGREEMENT 
 
This Amendment No. 4 to Second Amended and Restated Business Loan Agreement dated as of May 14, 2003 (this
“Amendment”) is executed with reference to the Second Amended and Restated Business Loan Agreement dated as of June 24, 2002 (as amended from time to time, the “Loan Agreement”) between Bank of America, N.A. (the
“Bank”) and IMPCO Technologies, Inc. (the “Borrower”). 
 

	 	 	 	The parties hereby agree to amend the Loan Agreement as follows: 

 
1.    Defined Terms.  All initially capitalized terms used in this
Amendment without definition shall have the respective meanings assigned thereto in the Loan Agreement. 
 
2.    Waiver.  The Bank hereby waives the provisions of the covenants set forth in Sections 11.3,
11.4 and 11.5 of the Loan Agreement as of the calendar month ended April 30, 2003, only. This is a one time waiver only, and the Borrower hereby agrees that it shall strictly comply with these sections as of May 31, 2003 and the last day of each
subsequent calendar month. 
 
3.    Modification.  Section 11.2 (b) of the Agreement is amended in its entirety to read as follows: 
 

	 	 	 	(b)  Within 30 days of each month’s end, the Borrower’s monthly financial statements. These financial statements may be borrower prepared. The
statements shall be prepared on a consolidated and consolidating basis. 

 
4.    Conditions Precedent.  The effectiveness of this Amendment shall be conditioned upon receipt by the Bank of all of the following: 
 

	 	 	 	a.    Counterparts of this Amendment executed by all parties hereto; 

 

	 	 	 	b.    Payment of the Bank’s legal fees and expenses of its counsel, including any outstanding invoices; and 

 

	 	     	 	c.    Such other assurances, certificates, documents, consents or opinions as the Bank reasonably may require. 

 
5.    Fees and
Expenses.  Borrower hereby agrees to reimburse the Bank for the Bank’s reasonable costs and expenses (including reasonable attorney’s fees and expenses) incurred in connection with the negotiation and drafting of this
Amendment and the transaction contemplated hereby together with any and all other fees and expenses currently due and owing to the Bank. Each of the parties hereto hereby agrees that the failure to satisfy the requirements of this Section shall
constitute an Event of Default under the Loan Agreement. 
 
6.    Representations and Warranties.  The Borrower hereby represents and warrants that no default under Section 13 of the Loan Agreement which is not waived hereby has occurred and remains
continuing. 
 

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7.    Release.  As a material inducement to the Bank to enter into this Amendment, the Borrower hereby fully releases and discharges forever Bank of America, N.A., its subsidiaries and affiliated
companies, and their respective agents, employees, officers, directors, representatives, attorneys, successors and assigns (hereafter referred to collectively as the “Released Parties”), and each and all of them, from any and all
liabilities, claims, actions, causes of action, charges, complaints, obligations, costs, losses, damages, injuries, attorneys’ fees, and other legal responsibilities, of any form whatsoever, whether known or unknown, unforeseen, unanticipated,
unsuspected or latent, which either of them may have or hold, or have at any time heretofore have or held, arising out of or relating to the Loan Agreement, or any document executed in connection therewith (collectively, the “Loan
Documents”), the transactions contemplated thereby or the relationship of the parties hereto arising out of the Loan Agreement or the Loan Documents prior to the effective date of this Amendment. The Borrower (and by executing its consent
hereto hereby expressly waives all rights under Section 1542 of the California Civil Code, which reads as follows: 
 
“Section 1542. [Certain claims not affected by general release.] A general release does not extend to claims which the creditor does
not know or suspect to exist in his favor at the time of executing the release, which if known to him must have materially affected his settlement with the debtor.” 
 
Borrower hereby agrees to indemnify and hold harmless each of the Released Parties for and against any and all costs, losses
or liability, whatsoever, including reasonable attorneys’ fees arising out of the prosecution by Borrower or its successors or assigns, of any action, claim or cause of actions released pursuant to this Section. 
 
8.    Counterparts.  This
Amendment may be executed in counterparts in accordance with Section 14.12 of the Loan Agreement. 
 
9.    Confirmation.  In all other respects, the Loan Agreement is confirmed. 
 
IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of the date first written above by their duly authorized representatives. 
 

	 IMPCO TECHNOLOGIES, INC.

	
	 By:
	 	 /s/    TIMOTHY S.
STONE        

	 Title:
	 	 Acting Chief Financial Officer

 

	 BANK OF AMERICA, N.A.

	
	 By:
	 	 /s/    DAVID P.
MAIORELLA        

	 	 	 David P. Maiorella, Vice President

 

-2-Amendment No. 1 to Master Loan & Security Agreement

EXHIBIT 10.1 
 
AMENDMENT NO. 1 
 
Amendment No. 1, dated as of March 27, 2003 (this “Amendment”), to the Master Loan and
Security Agreement, dated as of December 1, 2002 (as previously amended, supplemented or otherwise modified, the “Existing Loan Agreement”, and as amended hereby, the “Loan Agreement”), by and between NC CAPITAL
CORPORATION (the “Borrower”) and MORGAN STANLEY MORTGAGE CAPITAL INC. (the “Lender”). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Loan Agreement.

 
 
RECITALS 
 
The Borrower and the Lender are parties to the Existing Loan Agreement, pursuant to which the Lender has agreed to make and to permit to remain outstanding certain extensions of credit to the Borrower on the terms and subject to the
conditions of the Existing Loan Agreement. 
 
The
Borrower and the Lender have agreed, subject to the terms and conditions hereof, that the definition of “Total Indebtedness” set forth in the Existing Loan Agreement shall be amended in accordance with the terms this Amendment.

 
Accordingly, the Borrower and the Lender hereby
agree, in consideration of the mutual premises and mutual obligations set forth herein, that the Existing Loan Agreement is hereby amended as follows: 
 
SECTION 1.    Amendment.  Section 1.1 of the Existing Loan Agreement is hereby amended by
deleting the definition of “Total Indebtedness” in its entirety and substituting in lieu thereof the following definition: 
 
“‘Total Indebtedness’ shall mean, for any period, the aggregate Indebtedness of the Guarantor during such
period maintained in accordance with GAAP less the aggregate amount of any such Indebtedness that is reflected on the balance sheet of the Guarantor in respect of obligations incurred pursuant to a securitization transaction, solely to the extent
such obligations are secured by the assets securitized thereby and are non-recourse to the Guarantor. In the event that any Indebtedness would be excluded from the calculation of Total Indebtedness but for the existence of recourse, the Guarantor
shall be entitled nonetheless to exclude the amount of such Indebtedness that is not subject to recourse. The amount of any recourse shall be the stated or determinable amount thereof or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof as determined by the Guarantor in good faith.” 
 
SECTION 2.    Conditions Precedent.  This Amendment shall become effective on the first date (the “Amendment Effective Date”) on which all
of the following conditions precedent shall have been satisfied: 

 
2.1    Delivered Documents.  On the Amendment Effective Date, the Lender shall have received the following documents, each of which shall be satisfactory to the Lender in form and substance:

 
(a)    Amendment.  This Amendment, executed and delivered by a duly authorized officer of each of the Borrower and the Lender; 
 
(b)    Secretary’s Certificate of Borrower.  A certificate of the
Secretary or Assistant Secretary of the Borrower, substantially in the form of Exhibit A hereto, dated as of the date hereof, and certifying (i) that since the Effective Date of the Loan Agreement there have been no changes to any of the
organizational documents of the Borrower delivered pursuant to Section 5.1(b) of the Loan Agreement and (ii) as to the incumbency and specimen signature of each officer executing this Amendment; and 
 
(c)    Other
Documents.  Such other documents as the Lender or counsel to the Lender may reasonably request. 
 
2.2    No Default.  On the Amendment Effective Date, (i) the Borrower shall be in compliance in all
material respects with all of the terms and provisions set forth in the Existing Loan Agreement and the other Loan Documents on its part to be observed or performed, (ii) the representations and warranties made and restated by the Borrower pursuant
to Section 3 of this Amendment shall be true and complete in all material respects on and as of such date with the same force and effect as if made on and as of such date and (iii) no Default shall have occurred and be continuing on such date.

 
SECTION
3.    Representations and Warranties.  The Borrower hereby represents and warrants to the Lender that it is in compliance in all material respects with all the terms and provisions set forth in the Loan
Documents on its part to be observed or performed, and that no Default has occurred or is continuing, and hereby confirms and reaffirms in all material respects the representations and warranties contained in Article 6 of the Loan Agreement.

 
SECTION
4.    Limited Effect.  Except as expressly amended and modified by this Amendment, the Existing Loan Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms;
provided, however, that upon the Amendment Effective Date each reference therein and herein to the “Loan Documents” shall be deemed to include, in any event, (i) the Existing Loan Agreement, (ii) this Amendment, (iii) the
Note, (iv) the Custodial Agreement, and (v) the New Century Guaranty. Each reference to the Loan Agreement in any of the Loan Documents shall be deemed to be a reference to the Loan Agreement as amended hereby. 
 
SECTION
5.    Counterparts.  This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute
one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart thereof. 
 

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SECTION
6.    GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 
 
[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered as of the day and year first above written. 
 

	 BORROWER
  
 NC CAPITAL CORPORATION

	
	 By
	 	 /s/    PATRICK FLANAGAN

	 	 	 Name:    Patrick Flanagan
 Title:    Chief Executive Officer

	
	 LENDER
  
 MORGAN STANLEY MORTGAGE
 CAPITAL INC.

	
	 By
	 	 /s/    ANDREW B.
NEUBERGER

	 	 	 Name:    Andrew B. Neuberger
 Title:    Vice President

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