Document:

Exhibit 10.3

 

WAIVER UNDER SECOND AMENDED AND

RESTATED PURCHASE AND SALE AGREEMENT

 

THIS WAIVER (this “Waiver”), dated as of February 5,
2008, is by and among SIRVA RELOCATION LLC, EXECUTIVE RELOCATION CORPORATION
and SIRVA GLOBAL RELOCATION, INC. (collectively, the “Originators”); and
SIRVA RELOCATION CREDIT, LLC (the “Buyer”).

 

PRELIMINARY STATEMENTS

 

A.            Reference
is made to that certain Second Amended and Restated Purchase and Sale
Agreement, dated as of December 22, 2006, among the Originators and the Buyer
(as amended, modified or supplemented from time to time, the “Purchase
Agreement”).  Capitalized terms used
herein without definition shall have the meanings ascribed thereto in the
Purchase Agreement.

 

B.            SIRVA
Inc. and all of its domestic subsidiaries, other than the Buyer, intend to
commence bankruptcy proceedings, on or about February 5, 2008, under
Chapter 11 of Title 11 of the United States Code (such proceedings, including
any subsequent conversion of the same to “Chapter 7” proceedings and/or following
the appointment of a bankruptcy trustee, the “Chapter 11 Proceedings”).

 

C.            Section 6.2
of the Purchase Agreement provides that the purchase and sale of Receivables
thereunder will automatically terminate upon the occurrence of a Bankruptcy
Event with respect to an Originator, which would include the commencement of
the Chapter 11 Proceedings.

 

D.            The
Buyer and the Originators have agreed to waive the occurrence of the automatic
termination provision of Section 6.2 of the Purchase Agreement, solely as
it relates to the commencement of the Chapter 11 Proceedings.

 

NOW, THEREFORE, in
consideration of the premises set forth above, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

 

SECTION 1.  Waiver of Section 6.2 of the Purchase
Agreement.  As of the Effective Date
(as set forth in Section 2 below), the parties hereto waive the
occurrence of the automatic termination provision of Section 6.2 of the
Purchase Agreement, solely as it relates to the commencement of the Chapter 11
Proceedings; it being understood that this waiver of Section 6.2
relating to the commencement of the Chapter 11 Proceedings does not constitute
an amendment of the Purchase Agreement or constitute a waiver of Section 6.2
of the Purchase Agreement other than as expressly set forth in this
paragraph.  Accordingly, other than with
respect to the commencement of the Chapter 11 Proceedings, the terms and
conditions of the Purchase Agreement and each of the other Transaction
Documents remain unchanged and in full force and effect.

 

 

SECTION 2. 
Effective
Date.  This Waiver shall become effective as of the
date hereof (the “Effective Date”), upon receipt by the Agent, or its
counsel, of counterparts of this Waiver, duly executed by each of the parties
hereto.

 

SECTION 3. 
Reference to and Effect on the Transaction Documents.

 

(a)           Except
as specifically set forth above, the terms and conditions of the Purchase
Agreement and all other Transaction Documents and any other documents,
instruments and agreements executed and/or delivered in connection therewith,
shall remain in full force and effect and are hereby ratified and confirmed.

 

(b)           The
execution, delivery and effectiveness of this Waiver shall not operate as a
waiver of any right, power or remedy of the Buyer or the Agent under the
Purchase Agreement or any other Transaction Document or any other document,
instrument or agreement executed in connection therewith, nor constitute a
waiver of any provision contained therein, in each case except as specifically
set forth herein.

 

SECTION 4.  Execution in Counterparts.  This Waiver may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed to be an original and all
of which taken together shall constitute but one and the same instrument.  Delivery of an executed counterpart of a
signature page to this Waiver by telecopier or other electronic delivery
shall be effective as delivery of a manually executed counterpart of this
Waiver.

 

SECTION 5.  Governing Law.  This Waiver shall be governed by, and construed in
accordance with, the internal laws (and not the law of conflicts) of the State
of Illinois.

 

SECTION 6.  Headings.  Section headings in this Waiver are
included herein for convenience of reference only and shall not constitute a
part of this Waiver for any other purpose.

 

 

IN
WITNESS WHEREOF, the parties hereto have caused this Waiver to be duly executed
by their respective officers as of the date first above written.

 

 

 

	
   

  	
  SIRVA RELOCATION CREDIT, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Douglas V. Gathany

  
	
   

  	
  Title:  President

  

 

 

 

	
   

  	
  SIRVA RELOCATION LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Douglas V. Gathany

  
	
   

  	
  Title:  Treasurer

  

 

 

 

	
   

  	
  EXECUTIVE RELOCATION CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Douglas V. Gathany

  
	
   

  	
  Title:  Treasurer

  

 

 

 

	
   

  	
  SIRVA GLOBAL RELOCATION, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Douglas V. Gathany

  
	
   

  	
  Title:  Treasurer

  

 

Waiver Under Second Amended and
Restated Purchase AgreementExhibit 10.4

 

ACKNOWLEDGEMENT  AND  CONSENT

(GUARANTY)

 

Reference
is made to the Amended and Restated Guaranty dated as of December 22,
2006, executed by the undersigned in favor of SIRVA Relocation Credit, LLC (the
“Guaranty”).  The undersigned (i) consent and agree to
the foregoing Waiver and Amendment, (ii) confirm that references in the
Guaranty to the Receivables Sale Agreement shall be references to such
agreement as amended and restated by the foregoing Waiver and Amendment, and (iii) confirm
that the Guaranty is in full force and effect.

 

IN
WITNESS WHEREOF, the undersigned have executed this Acknowledgement and Consent
as of February 5, 2008.

 

	
   

  	
  SIRVA WORLDWIDE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Douglas V. Gathany

  
	
   

  	
  Title:  SVP Treasurer &
  Investor Relations

  

 

	
   

  	
  NORTH AMERICAN VAN LINES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Douglas V. Gathany

  
	
   

  	
  Title:  SVP Treasurer &
  Investor RelationsExhibit 10.1

 

BPC Energy Systems

50A8 Zemlianoy Val building 2 office 1703

109028 Moscow, Russia

 

PURCHASE ORDER

 

	 
	
   

  	
  Date: 27/12/2007

  	
   

  	
  Order no.
  BPC-001-08

  	 

	 
	
   

  	
   

  	
   

  	 

	 
	
  To:

  	
  Capstone Turbine Corp.

  	
   

  	
   

  	 

	 
	
   

  	
  21211 Nordhoff Street

  	
   

  	
   

  	 

	 
	
   

  	
  Chatsworth, CA 91311

  	
   

  	
   

  	 

	 
	
   

  	
   

  	
   

  	 

	 
	
  Attn:

  	
  Yvonne Stainthorpe    Fax: (818) 734-1085   Phone:
  (818) 407-3778

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Item

  	
   

  	
  Description
  / Catalog Number

  	
   

  	
  Options

  	
   

  	
  Qty

  	
   

  	
  Unit
  Price

  Note 1

  	
   

  	
  Total

  Note 1

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  200R-FD4-BU00

  C200,LPNG,DM,INDPKG,UL

  	
   

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  2

  	
   

  	
  523758-100

  C200 SS HRM Assy w/Duct

  	
   

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  3

  	
   

  	
  509949-201

  MultiPac Cable &Terminator Kit -50 Feet

  	
   

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  4

  	
   

  	
  APS-130-000X

  APS-130,No Remote Monitoring

  	
   

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
   

  	
   

  	
  Total Hardware

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  [***]

  
	
   

  	
   

  	
  Discount [***] (except p-4)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Shipping:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  35

  	
   

  	
  Shipping – EXW Chatsworth

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  36

  	
   

  	
  Fuel Surcharge

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  37

  	
   

  	
  Security Surcharge

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  38

  	
   

  	
  Inland Transportation

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  39

  	
   

  	
  Truck Load

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40

  	
   

  	
  Cartage

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  41

  	
   

  	
  B/L fee

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Total Shipping

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  0.00

  
	
  42

  	
   

  	
  Insurance

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GRAND TOTAL*

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  3,968,362.50

  
																

 

	
   

  	
   

  	
  Note 1: Unit and Total price are in $USD

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

*                 Portions
of this Exhibit were omitted, as indicated by [***], and have been filed
separately with the Secretary of the Securities and Exchange Commission
pursuant to the Company’s application requesting confidential treatment under Rule 24b-2
of the Exchange Act.

 

 

	
  Payment Terms:

  	
   

  	
  Payment received before delivery for Capstone, paid by wire according
  to instructions below:

  
	
   

  	
   

  	
  Bank: Mellon Bank

  
	
   

  	
   

  	
  ABA #: [***]

  
	
   

  	
   

  	
  Account Name: Merrill, Lynch, Piece, Fenner & Smith

  
	
   

  	
   

  	
  Account #: [***]

  
	
   

  	
   

  	
  For further credit to:

  
	
   

  	
   

  	
  Account Name: Capstone Turbine Corporation

  
	
   

  	
   

  	
  Account #: [***]

  
	
   

  	
   

  	
  Swift Code: [***]

  
	
   

  	
   

  	
  Distributor will notify Capstone when wire transfer is made via
  e-mail to:

  
	
   

  	
   

  	
  rdeyo@capstoneturbine.com and hgners@capstoneturbine.com and by fax;
  the actual bank wire receipt to Robin Deyo at +1-818-734-5380

  
	
   

  	
   

  	
   

  
	
  Delivery:

  	
   

  	
  FOB Capstone Factory, Chatsworth, CA

  
	
  Shipment Dates:

  	
   

  	
  As soon as production of the equipment completed.

  
	
   

  	
   

  	
  Payment to be made prior to shipment.

  
	
   

  	
   

  	
   

  
	
  Other:

  	
   

  	
  Refer to Business Partner Agreement between Capstone Turbine
  Corporation and Banking Production Center (BPC)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Ship to:

  
	
   

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Invoice must be for the owner of the goods, not delivery address

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Invoice must contain the following statement:

  
	
   

  	
   

  	
  “TRANSIT GOODS TO RUSSIA, 109028, Moscow, Bid. 2. 50A/8, Zemlyanoy
  Val St. Banking Production Center LTD”

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  It should be clearly stated that the shipment is not for use in EU

  
	
   

  	
   

  	
   

  
	
  Any questions, please contact: 

  	
   

  	
  Alexander Skorokhodov, Executive director, BPC

  Banking Production Center (BPC) 

  
	
   

  	
   

  	
  50/2 Zemlianoy Val St, Office 1310

  
	
   

  	
   

  	
  109028 Moscow, Russia

  
	
   

  	
   

  	
  Direct: +7 495 787 91 99 ext. [***]

  
	
   

  	
   

  	
  Fax: +7 495 780 31 67

  
	
   

  	
   

  	
  [***]

  
	
   

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  BPC Customer: 

  	
   

  	
  [***]

  

 

	
  Skorokhodov Alexander

  	
   

  	
  27/12/2007

  
	
  Submitted by 

  	
   

  	
  Date

  
	
   

  	
   

  	
   

  
	
  Executive director 

  	
   

  	
  BPC Energy Systems

  
	
  Title

  	
   

  	
  Company

  

 

*                 Portions
of this Exhibit were omitted, as indicated by [***], and have been filed
separately with the Secretary of the Securities and Exchange Commission
pursuant to the Company’s application requesting confidential treatment under Rule 24b-2
of the Exchange Act.

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