Document:

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR REASONABLY ACCEPTABLE TO THE COMPANY TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

COMMON STOCK PURCHASE WARRANT

To Purchase 750,000 Shares of Common Stock of

GLOBETECH ENVIRONMENTAL, INC.

THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) CERTIFIES that, for value received, Sridhar Ramachandran (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after December 1, 2007 (the “Initial Exercise Date”) and on or prior to the close of business on the second anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from Globetech Environmental, Inc., a corporation incorporated in the State of Nevada (the “Company”), up to 750,000 shares (the “Warrant Shares”) of Common Stock, par value $0.001 per share, of the Company (the “Common Stock”). The purchase price of one share of Common Stock (the “Exercise
Price”) under this Warrant shall be $.08 subject to adjustment hereunder. The Exercise Price and the number of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein.

1. Title to Warrant. Prior to the Termination Date and subject to compliance with applicable laws and Section 7 of this Warrant, this Warrant and all rights hereunder are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney, upon surrender of this Warrant together with the Assignment Form annexed hereto properly endorsed. The transferee shall sign an investment letter in form and substance reasonably satisfactory to the Company.

2. Authorization of Shares. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

3. Exercise of Warrant.

(a) Exercise of the purchase rights represented by this Warrant may be made at any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy of the Notice of Exercise Form annexed hereto (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company); provided, however, within 5 trading days of the date said Notice of Exercise is delivered to the Company, the Holder shall have surrendered this Warrant to the Company and the Company shall have received payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank. Certificates for shares purchased hereunder shall be delivered to the Holder within 15 trading days from
the delivery to the Company of the Notice of Exercise Form by facsimile copy, surrender of this Warrant and payment of the aggregate Exercise Price as set forth above.

(b) If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

4. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share that Holder would otherwise be entitled to purchase upon such exercise, the Company shall pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price.

 

Warrant (2004_12)

5. Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto.

6. Closing of Books. The Company will not close its stockholder books or records in any manner that prevents the timely exercise of this Warrant, pursuant to the terms hereof.

7. Transfer, Division and Combination.

(a) Subject to compliance with any applicable securities laws and the conditions set forth in Sections 1 and 7(e) hereof, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. A
Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued.

(b) This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 7(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice.

(c) The Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this Section 7.

(d) The Company agrees to maintain, at its aforesaid office, books for the registration and the registration of transfer of the Warrants.

(e) If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant, as the case may be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions and reasonably acceptable to the Company) to the effect that such transfer may be made without registration under the Securities Act and under applicable state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company an investment letter in form and substance acceptable to
the Company and (iii) that the transferee be an “accredited investor” as defined in Rule 501(a) promulgated under the Securities Act. Notwithstanding anything herein to the contrary, the Holder shall have the absolute and unconditional right to assign this Warrant, in part or in whole, to is officer, directors and employees.

8. No Rights as Shareholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price (or by means of a cashless exercise), the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the record owner of such shares as of the close of business on the later of the date of such surrender or payment.

9. Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a 

 

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Warrant (2006_12)

new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

10. Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday or legal holiday.

11. Stock Splits. The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (i) pay a dividend in shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock, (ii) subdivide its outstanding shares of Common Stock into a greater number of shares, (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, or (iv) issue any shares of its capital stock in a reclassification of the Common Stock, then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that the Holder shall be entitled to receive the kind and number of Warrant
Shares or other securities of the Company which it would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment of the kind and number of Warrant Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant Shares or other securities of the Company resulting from such adjustment. An adjustment made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

12. Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital, reclassify its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification, merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor
or acquiring corporation (“Other Property”), are to be received by or distributed to the holders of Common Stock of the Company, then the Holder shall have the right thereafter to receive, at the option of the Holder, (a) upon exercise of this Warrant, the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a Holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event or (b) cash equal to the value of this Warrant as determined in accordance with the Black Scholes option pricing formula. In case of any such reorganization, reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual
observance and performance of each and every covenant and condition of this Warrant to be performed and observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the Company) in order to provide for adjustments of Warrant Shares for which this Warrant is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 12. For purposes of this Section 12, “common stock of the successor or acquiring corporation” shall include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the
arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 12 shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations or disposition of assets.

13. Voluntary Adjustment by the Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

14. Notice of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon the exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the 

 

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Company shall give notice thereof to the Holder, which notice shall state the number of Warrant Shares (and other securities or property) purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a brief statement of the facts requiring such adjustment and setting forth the computation by which such adjustment was made.

15. Authorized Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the
Common Stock may be listed.

16. Miscellaneous.

(a) Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the substantive laws of the State of Nevada without giving effect to any choice or conflict of law provision or rule. Any legal action or proceeding with respect to this Warrant may be brought in the courts of the State of Nevada and the United States of America located in the City of Las Vegas, Nevada, U.S.A. and, by execution and/or acceptance of this Warrant, the parties hereto accept the jurisdiction of the aforesaid courts and irrevocably waive any objection, including, without limitation, any objection to the venue or based on the grounds of forum non conveniens, which it may now or hereafter have to the bringing of any such action or proceeding in such respective jurisdictions.

(b) Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws.

(c) Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

(d) Notices. All notices, demands and requests of any kind to be delivered to any party in connection with this Warrant shall be in writing and shall be deemed to have been duly given if personally delivered or if sent by internationally-recognized overnight courier or by registered or certified mail, return receipt requested and postage prepaid, addressed as follows:

	
             
 	
            if to the Company, to:
 	
            Globetech Environmental, Inc.
 

20333 S.H. 249, Suite 600

	
             
 	
            Houston, Texas, 77070
 

Attn: Michael Sanders

if to the Holder, to: the address of the Holder(s) appearing in the Company’s records from time to time

or to such other address as the party to whom notice is to be given may have furnished to the other parties to this Warrant in writing in accordance with the provisions of this Section 16(d). Any such notice or communication shall be deemed to have been received (i) in the case of personal delivery, on the date of such delivery, (ii) in the case of internationally-recognized overnight courier, on the next business day after the date when sent, and (iii) in the case of mailing, on the third business day following that on which the piece of mail containing such communication is posted.

(e) Limitation of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase Warrant Shares, and no enumeration herein of the rights or privileges 

 

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Warrant (2006_12)

of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

(f) Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate.

(g) Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such Holder or holder of Warrant Shares.

(h) Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

(i) Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

(j) Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized.

Dated:  December 1, 2007

GLOBETECH ENVIRONMENTAL, INC.

By:

Name: Theodor Hennig

Title:  CFO

NOTICE OF EXERCISE

	
            To:
 	
            Globetech Environmental, Inc.
 

(1)          The undersigned hereby elects to purchase  Warrant Shares of Globetech Environmental, Inc. pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

(2)          Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified below:

The Warrant Shares shall be delivered to the following:

(3)          Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

[PURCHASER]

By:

Name:

Title:

Dated:

 

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Warrant (2006_12)

ASSIGNMENT FORM

(To assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to  whose address is.

Dated:,

Holder’s Signature:

Holder’s Address:

Signature Guaranteed:

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

 

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Warrant (2006_12)EXHIBIT 10.1

	
 

	
THIRD
  AMENDMENT TO CREDIT AGREEMENT

	

          THIS
THIRD AMENDMENT TO CREDIT AGREEMENT (this “Amendment” or “Third Amendment”) has
been executed as of the 14th day of December, 2007, (the “Third
Amendment Effective Date”), by INDIAN-MARTIN, INC., a Nevada corporation,
(“Company”), and JPMORGAN CHASE BANK, N.A., successor by merger to BANK ONE,
NATIONAL ASSOCIATION, a national banking association (“Bank”).

Recitals

          1.
Company and Bank (collectively, the “Parties”) are parties to a Credit
Agreement, dated as of September 5, 2003, which has previously been amended (as
in effect immediately prior to the execution of this Amendment, the “Existing
Agreement”).

          2.
The Parties have determined that it is in their best interests to amend the
Existing Agreement, effective as of the Third Amendment Effective Date, as set
forth in this Third Amendment, and subject to the terms and conditions of this
Third Amendment.

Agreement

          NOW
THEREFORE, in consideration of the Recitals and for other good and valuable
considerations, the receipt and sufficiency of which are hereby acknowledged by
each of the Parties to this Third Amendment, it is agreed as follows:

          1. Definitions.
Terms which are defined in the Existing Agreement shall have the same meanings
in this Amendment as are ascribed to them in the Existing Agreement, as amended
hereby, excepting only those terms which are expressly defined in this
Amendment, which shall have the meanings ascribed to them in this Amendment.

3

          2. Amendments
to Existing Agreement.

          (a)
Amendments to Definitions. The following definitions, which are set
forth in Section 1.02 of the Existing Agreement, are amended and restated in
their entirety as of the Third Amendment Effective Date to read as follows:

	
 

	
 

	
 

	
“Maximum Availability” means as of the
  date any determination thereof is to be made, the lesser of: (i) the
  Borrowing Base as of such date, and (ii) the following amounts during
  the respective time periods described:

	
 

	
 

	
 

	
 

	
 

	
Third Amendment Effective Date through December 31,
  2007

	
$30,000,000.00

	
 

	
 

	
January 1, 2008 through January 31, 2008

	
$25,000,000.00

	
 

	
 

	
February 1, 2008 through June 30, 2008

	
$20,000,000.00

	
 

	
 

	
July 1, 2008 through September 30, 2008

	
$30,000,000.00

	
 

	
 

	
October 1, 2008 through October 31, 2008

	
$45,000,000.00

	
 

	
 

	
November 1, 2008 through November 30, 2008

	
$40,000,000.00

	
 

	
 

	
December 1, 2008 through December 31, 2008

	
$30,000,000.00

	
 

	
 

	
January 1, 2009 through January 31, 2009

	
$25,000,000.00

	
 

	
 

	
February 1, 2009 through June 30, 2009

	
$20,000,000.00

	
 

	
 

	
July 1, 2009 through September 30, 2009

	
$30,000,000.00

	
 

	
 

	
October 1, 2009 through October 31, 2009

	
$45,000,000.00

	
 

	
 

	
November 1, 2009 through November 30, 2009

	
$40,000,000.00

	
 

	
 

	
December 1, 2009 through December 31, 2009

	
$30,000,000.00

	
 

	
 

	
January 1, 2010 through January 31, 2010

	
$25,000,000.00

	
 

	
 

	
February 1, 2010 through Scheduled Maturity Date

	
$20,000,000.00 

	
 

	
 

	
 

	
 

	
“Scheduled Maturity Date” means June 30,
  2010 or such later date as may be established pursuant to the terms of
  Section 2.01(d) of this Agreement.

	
 

	
 

	
 

	
“Revolving Note” has the meaning ascribed
  to it in Section 2.01(b) of this Agreement which Revolving Note shall be in
  form and substance substantially the same as Exhibit “I” attached to the
  Third Amendment.

4

          (b)
New Definitions. Section 1.02 of the Existing Agreement is hereby
amended, effective as of the Third Amendment Effective Date, by adding thereto
in appropriate alphabetical sequence the following new definitions:

	
 

	
 

	
 

	
The term “Third Amendment” means the Third
  Amendment to Credit Agreement, dated as of the Third Amendment Effective
  Date, executed by and between the Parties.

	
 

	
 

	
 

	
The term “Third Amendment Effective Date” is used
  as defined in the Preamble of the Third Amendment.

          3.
Representations and Warranties. Company represents and warrants to Bank
that:

          (a)
(i)The execution, delivery and performance of this Amendment and all agreements
and documents delivered pursuant hereto by Company have been duly authorized by
all necessary corporate action and do not and will not violate any provision of
any law, rule, regulation, order, judgment, injunction or writ presently in
effect applying to Company, or its articles of incorporation, or result in a
breach of or constitute a default under any material agreement, lease or
instrument to which Company is a party or by which it or any of its properties
may be bound or affected; (ii) no authorization, consent, approval, license,
exemption or filing of a registration with any court or governmental authority,
department, agency or instrumentality is or will be necessary to the valid execution,
delivery or performance by Company of this Amendment and all agreements and
documents delivered pursuant hereto; and (iii) this Amendment and all
agreements and documents delivered pursuant hereto by Company are the legal,
valid and binding obligations of

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Company, as a signatory thereto, and are enforceable
against Company in accordance with the terms thereof.

          (b)
After giving effect to the amendments contained in this Amendment, the
representations and warranties contained in Article III of the Agreement are
true and correct on and as of the Third Amendment Effective Date with the same
force and effect as if made on and as of the Third Amendment Effective Date,
except that the representation in Section 3.01(d) of the Agreement shall be
deemed to refer to the Financial Statements of Company most recently delivered
to Bank prior to the Third Amendment Effective Date. 

          (c)
No Event of Default has occurred and is continuing or will exist under the
Existing Agreement, as amended hereby, as of the Third Amendment Effective
Date.

          4.
Conditions. The obligation of Bank to execute and to perform this
Amendment shall be subject to full satisfaction of the following conditions
precedent on or before the Third Amendment Effective Date:

          (a)
Copies, certified as of the Third Amendment Effective Date, of such corporate
documents of Company as Bank may request evidencing necessary corporate action
by Company with respect to this Third Amendment. 

          (b)
This Amendment and the replacement Revolving Note shall have been duly executed
and delivered by Company to Bank and this Amendment executed by Bank.

          (c)
Bank shall have received such additional agreements, documents and
certifications, fully executed by Company, as may be reasonably requested by
Bank.

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          5.
Supplemental Documents and Further Assurances. Company shall at any time
on or after the Third Amendment Effective Date, and upon the request of Bank,
execute and deliver, or cause to be executed and delivered, such additional
documents, agreements and instruments as may be reasonably required by Bank or
appropriate to give full force and effect to the intents and purposes of this
Amendment and the Agreement. Company’s failure to comply with the terms of this
Section 5 within thirty (30) days after Bank’s request shall at Bank’s sole
discretion and election be deemed an Event of Default under Section 7.01 of the
Agreement.

          6.
Binding on Successors and Assigns. All of the terms and provisions of
this Amendment shall be binding upon and inure to the benefit of the Parties
and each of their respective successors, assigns and legal representatives.

          7.
Governing Law/Entire Agreement/Survival. This Amendment is a contract
made under, and shall be governed by and construed in accordance with, the
substantive laws of the State of Indiana applicable to contracts made and to be
performed entirely within such state and without giving effect to the conflicts
of laws rules or principles of any jurisdiction. This Amendment constitutes and
expresses the entire understanding between the Parties with respect to the
subject matter hereof, and supersedes all prior agreements and understandings,
commitments, inducements or conditions, whether express or implied, oral or
written. All covenants, agreements, undertakings, representations and
warranties made in this Amendment shall survive the execution and delivery of
this Amendment, and shall not be affected by any investigation made by any
Person. Except as expressly provided otherwise in this Amendment, the Existing
Agreement, as amended hereby, remains in full force and effect in accordance
with its terms and provisions.

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          8.
WAIVER OF JURY TRIAL. EACH PARTY TO THIS AMENDMENT HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT
NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTY HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AMENDMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
9.

          9.
WAIVER OF SPECIAL
DAMAGES. TO THE EXTENT
PERMITTED BY APPLICABLE LAW, COMPANY SHALL NOT ASSERT, AND HEREBY WAIVES, ANY
CLAIM AGAINST BANK, ON ANY THEORY OF LIABILITY, FOR SPECIAL, INDIRECT,
CONSEQUENTIAL OR PUNITIVE DAMAGES (AS OPPOSED TO DIRECT OR ACTUAL DAMAGES)
ARISING OUT OF, IN CONNECTION WITH, OR AS A RESULT OF, THIS AMENDMENT OR ANY
AGREEMENT OR INSTRUMENT CONTEMPLATED HEREBY, THE TRANSACTIONS, THE TERM LOAN OR
THE USE OF THE PROCEEDS THEREOF.

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          IN
WITNESS WHEREOF, the Parties have caused this Amendment to be duly executed and
delivered by their respective duly authorized signatories as of the Third
Amendment Effective Date.

	
 

	
 

	
 

	
 

	
INDIAN-MARTIN, INC., 

	
 

	
JPMORGAN CHASE BANK, N.A.,

	
a Nevada corporation

	
 

	
successor by merger to

	
 

	
 

	
 

	
BANK ONE, NATIONAL ASSOCIATION

	
 

	
 

	
 

	
 

	
By:

	
/s/ Terry Frandsen

	
  By:

	
/s/ John C. Otteson

	
 

	

	
 

	

	
 

	
Terry Frandsen, VP Finance - CFO

	
 

	
John C. Otteson, Vice President

	
 

	
 

	
 

	
 

	
(“Company”)

	
(“Bank”)

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00134-of-00352.parquet"}]]