Document:

AMENDMENT NO. 2 TO MASTER REPURCHASE AGREEMENT

 EXHIBIT 10.13 
  
 AMENDMENT NO. 2 TO 
 MASTER REPURCHASE AGREEMENT 
  
 THIS AMENDMENT NO. 2 TO MASTER REPURCHASE AGREEMENT, dated as of September 30, 2003 (“Amendment”), is entered into between WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association
(formerly First Union National Bank) (“Buyer”), and CAPITAL LEASE FUNDING, LLC, a Delaware limited liability company (“Seller”). 
  
 STATEMENT OF PURPOSE 
  

Buyer and Seller have previously entered into a Master Repurchase Agreement dated November 1, 2001, as amended by an Amendment No. 1 to Master
Repurchase Agreement dated as of April 24, 2003 (collectively, the “Agreement”). The parties now desire to further amend the Agreement as provided in this Amendment. 
  
 AMENDMENT 
  
 Section 1. Amendment. Section 1.17 of Exhibit A to the Agreement is amended and restated as follows: 
  
 1.17 “Termination Date” means November 1, 2004.

  
 Section 2. Agreement in Full Force and Effect as
Amended. Except as specifically amended by this Amendment, the Agreement shall remain in full force and effect. The parties agree to be bound by the terms and conditions of the Agreement as amended by this Amendment, as though such terms and
conditions were set forth in the Agreement. 
  
 Section 3.
Conditions Precedent. This Amendment shall not be effective until this Amendment has been duly executed by, and delivered to, the parties. 
  
 Section 4. Miscellaneous. 
  
 (a) This Amendment may be executed in any number of counterparts, and by the different parties on the same
or separate counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. 
  
 (b) The descriptive headings of the various sections of this Amendment are inserted for convenience of reference only and shall not be
deemed to affect the meaning or construction of any of the provisions of this Agreement. 
  
 (c) This Amendment may not be amended or otherwise modified except as provided in the Agreement. 
  
 (d) The failure or unenforceability of any provision hereof
shall not affect the other provisions of this Amendment. 

 (e) This Amendment represents the final agreement between the parties and may not be
contradicted by evidence of prior, contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral agreements between the parties. 
  

 2 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed on the date set forth above by
its authorized agents. 
  

	 BUYER:
	 	 	 	 WACHOVIA BANK, NATIONAL ASSOCIATION (formerly known as First Union
 National Bank), a national banking association

					
	 	 	 	 	 	 	By:	 	/S/    WILLIAM C. GREEN
	 	 	 	 	 	 	 	

	 	 	 	 	 	 	Name:	 	    William C. Green
	 	 	 	 	 	 	 	

	 	 	 	 	 	 	Title:	 	    Senior Vice President
	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 Wachovia Bank, National Association
 301 South College Street
 16th Floor
 Charlotte, NC 28288
 Attention: William C. Green
 Telecopy: (704) 383-7639
 E-mail:
billc.green@wachovia.com

				
	 	 	 	 	 	 	 with a copy to:

				
	 	 	 	 	 	 	 Mayer, Brown, Rowe & Maw
 214 North Tryon Street, Suite 3800
 Charlotte, North Carolina 28202
 Attention: James R. Bryant, III
 Telecopy: (704) 377-2033
 E-mail: jbryant@mayerbrownrowe.com

  
 [Signatures
Continued on the Following Page] 
  

 3 

	 SELLER:
	 	 	 	 CAPITAL LEASE FUNDING, LLC, a
 Delaware limited liability company

					
	 	 	 	 	 	 	By:	 	/s/    PAUL H. McDOWELL        
	 	 	 	 	 	 	 	

	 	 	 	 	 	 	 	 	Paul H. McDowell, CEO
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 Capital Lease Funding, LLC
 110 Maiden Lane, 26th Floor
 New York, New York 10005
 Attention: Paul H. McDowell
 Telecopy: (212) 217-6301
 E-mail: paul@caplease.com

				
	 	 	 	 	 	 	 with a copy to:

				
	 	 	 	 	 	 	 Cadwalader, Wickersham & Taft
 100 Maiden Lane
 New York, New York 10038
 Attention: Karen Gelernt, William Mills
 Telecopy: (212) 504-6666
 E-mail: Karen.Gelernt@cwt.com,
 William.Mills@cwt.com

  

 4AMENDMENT NO. 3 TO MASTER REPURCHASE AGREEMENT

 Exhibit 10.14 
  
 AMENDMENT NO. 3 TO 
 MASTER REPURCHASE AGREEMENT 
  
 THIS AMENDMENT
NO. 3 TO MASTER REPURCHASE AGREEMENT, dated as of December 15, 2003 (“Amendment”), is entered into between WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (formerly First Union National Bank)
(“Buyer”), and CAPITAL LEASE FUNDING, LLC, a Delaware limited liability company (“Seller”). 
  
 STATEMENT OF PURPOSE 
  
 Buyer and Seller have previously entered into a Master Repurchase Agreement dated November 1, 2001, as amended by an Amendment No. 1 to Master Repurchase
Agreement dated as of April 24, 2003 and an Amendment No. 2 to Master Repurchase Agreement dated as of September 30, 2003 (collectively, the “Agreement”). The parties now desire to further amend the Agreement as provided in this
Amendment. 
  
 AMENDMENT 
  
 Section
1.    Amendment.    Section 1.17 of Exhibit A to the Agreement is amended and restated as follows: 
  
 1.17    “Termination Date” means March 31, 2005. 
  
 Section 2.    Agreement in Full Force and Effect as
Amended.    Except as specifically amended by this Amendment, the Agreement shall remain in full force and effect. The parties agree to be bound by the terms and conditions of the Agreement as amended by this Amendment, as
though such terms and conditions were set forth in the Agreement. 
  
 Section 3.    Conditions Precedent.    This Amendment shall not be effective until this Amendment has been duly executed by, and delivered to, the parties.

  
 Section 4.    Miscellaneous.

  
 (a) This Amendment may be executed in any number of
counterparts, and by the different parties on the same or separate counterparts, each of which shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement. 
  
 (b) The descriptive headings of the various sections of this Amendment are
inserted for convenience of reference only and shall not be deemed to affect the meaning or construction of any of the provisions of this Agreement. 
  
 (c) This Amendment may not be amended or otherwise modified except as provided in the Agreement. 
  
 (d) The failure or unenforceability of any provision hereof shall not affect
the other provisions of this Amendment. 

 (e) This Amendment represents the final agreement between the parties and may not be contradicted by
evidence of prior, contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral agreements between the parties. 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed on the date set forth above by
its authorized agents. 
  

	BUYER:	  	 WACHOVIA BANK, NATIONAL
 ASSOCIATION (formerly known as First Union
 National Bank), a national banking association

			
	 	  	 By:
	 	 /s/    WILLIAM C. GREEN

			
	 	  	 Name:
	 	 William C. Green

			
	 	  	 Title:
	 	 Senior Vice President

		
	 	  	Wachovia Bank, National Association
	 	  	301 South College Street
	 	  	16th Floor
	 	  	Charlotte, NC 28288
	 	  	Attention: William C. Green
	 	  	Telecopy: (704) 383-7639
	 	  	E-mail: billc.green@wachovia.com
		
	 	  	with a copy to:
		
	 	  	Mayer, Brown, Rowe & Maw LLP
	 	  	214 North Tryon Street, Suite 3800
	 	  	Charlotte, North Carolina 28202
	 	  	Attention: James R. Bryant, III
	 	  	Telecopy: (704) 377-2033
	 	  	E-mail: jbryant@mayerbrownrowe.com

  
 [Signatures
Continued on the Following Page] 

	SELLER:	  	CAPITAL LEASE FUNDING, LLC, a
Delaware limited liability company
			
	 	  	By:    	 	 /s/    SHAWN SEALE

 Shawn Seale, Senior Vice-President

		
	 	  	Capital Lease Funding, LLC
	 	  	110 Maiden Lane, 26th Floor
	 	  	New York, New York 10005
	 	  	Attention: Paul H. McDowell
	 	  	Telecopy: (212) 217-6301
	 	  	E-mail: paul@caplease.com
		
	 	  	with a copy to:
		
	 	  	Cadwalader, Wickersham & Taft
	 	  	100 Maiden Lane
	 	  	New York, New York 10038
	 	  	Attention: Karen Gelernt, William Mills
	 	  	Telecopy: (212) 504-6666
	 	  	E-mail: Karen.Gelernt@cwt.com,
	 	  	William.Mills@cwt.comAMENDMENT TO DEMAND LOAN AND SECURITY AGREEMENT

 Exhibit 10(a) 
  
 Eastern Bank 
  
 November 3, 2003 
  
 International Electronics, Inc. 
 427 Turnpike Street 
 Canton, Massachusetts 02021 
 Attn: John Waldstein, President and Treasurer 
  

Gentlemen: 
  
 Reference is made to our Demand Loan and Security Agreement Accounts Receivable and Inventory dated February 28, 1997, together with all amendments and additions thereto (hereinafter called the
“Agreement”). Notwithstanding the provisions of the Agreement, it is agreed, effective immediately, that the Agreement shall be amended as follows: 
  
 1. Sections 14(a) and 14(b) of the Agreement are hereby stricken in their entirety and the following new Sections 14(a) and
14(b) substituted therefore: 
  
 “(a)
(Debt to Worth) permit the aggregate amount of its indebtedness to be more than one (1) time the amount of its tangible net worth on the last day of any fiscal year beginning with the fiscal year ending August 31, 2004; 
  
 (b) (Current Ratio) permit its ratio of current
assets to current liabilities to be less than 2 to 1 on the last day of any fiscal year of Borrower,” 
  
 2. Section 14(f) of the Agreement is hereby stricken in its entirety and the following new Section 14(f) substituted therefor; 
  
 “(f) (Dividends) pay any dividends on or make
any distribution on account of (except, if Borrower is a Subchapter S corporation, consistent with paragraph (c) above) any class of Borrower’s capital stock in cash or in property (other than additional shares of such stock), or redeem,
purchase or otherwise acquire, directly or indirectly, any of such stock; notwithstanding the foregoing, if Borrower has a net income in excess of One Hundred Thousand ($100,000.00) Dollars, determined as of the last day of any fiscal year,
determined in accordance with generally accepted accounting principles, the Borrower may, in the next succeeding fiscal year, declare dividends, redeem, purchase or otherwise acquire Borrower’s capital stock, provided (i) the aggregate of any
such dividends and/or redemptions does not exceed the sum of Five Hundred Thousand ($500,000.00) Dollars in any fiscal year; (ii) the aggregate of any such dividends and/or 

 redemptions does not exceed three (3) times the amount of Borrower’s net after tax income for the
prior fiscal year; and (iii) immediately after giving effect to any such dividends and/or redemptions, the Borrower is in compliance with the financial covenants set forth in Sections 14(a) and 14(b) above. 
  
 The foregoing notwithstanding, during the fiscal year ending
August 31, 2004, Borrower may declare and pay dividends to its shareholders in an amount not exceeding five ($.05) cents per share per quarter.” 
  
 3. Section 14(m) of the Agreement is hereby stricken in its entirety and the following new Section 14(m) substituted therefore: 
  
 “(m) (Minimum Net Earnings) (i) permit the net
tax after earnings of Borrower for any year ending on or after August 31, 2004 to be less than Ten Thousand ($10,000.00) Dollars; and (ii) permit the net after tax earnings of Borrower for each six (6) month period ending on or after August 31,
2003, and on the last day of February in each year thereafter, to be less than One ($1.00) Dollar.” 
  
 Kindly note that the alterations contained herein do not in any way alter, release or change any other sections contained in the Agreement. 
  
 Please acknowledge your agreement to the foregoing by signing the enclosed
copy of this letter and returning the same to the undersigned. 
  

	Very truly yours,
	
	EASTERN BANK
		
	By:	 	/s/    Alan Roberts        
	 	

	 	 	Alan Roberts, Vice President

  

	ACCEPTED:
	
	INTERNATIONAL ELECTRONICS, INC.
		
	By:	 	/s/    John Waldstein        
	 	

	 	 	John Waldstein, President and Treasurer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00060-of-00352.parquet"}]]