Document:

Second Amendment to Credit Agreement, dated as of October 11, 2011

 Exhibit 10.7 
 EXECUTION VERSION 
 SECOND AMENDMENT 

TO CREDIT AGREEMENT 
 THIS SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of October 11, 2011 (this “Amendment”) to the Existing Credit Agreement (such capitalized term and other capitalized terms used in
this preamble and the recitals below to have the meanings set forth in, or are defined by reference in, Article I below) is entered into by and among W.E.T. AUTOMOTIVE SYSTEMS, AG, a German stock corporation (the “German
Borrower”), W.E.T. AUTOMOTIVE SYSTEMS LTD., a Canadian corporation (the “Canadian Borrower” and, together with the German Borrower, the “Borrowers” and each, a “Borrower”), each lender
party hereto (collectively, the “Lenders” and individually, a “Lender”), BANC OF AMERICA SECURITIES LIMITED, as administrative agent (in such capacity, the “Administrative Agent”) and BANK OF
AMERICA, N.A., as Swing Line Lender and L/C Issuer (“Bank of America”). 
 W I T N
E S S E T H: 
 WHEREAS, the Borrowers, the Lenders, Bank of America and the
Administrative Agent are all parties to the Credit Agreement, dated as of March 30, 2011 (as amended or otherwise modified prior to the date hereof, the “Existing Credit Agreement”, and as amended by this Amendment and as the
same may be further amended, supplemented, amended and restated or otherwise modified from time to time, the “Credit Agreement”); and 
 WHEREAS, the Borrowers have requested that the Lenders amend certain provisions of the Existing Credit Agreement and the Lenders are willing to effect such amendments, on the terms and subject to the
conditions hereinafter set forth. 
 NOW, THEREFORE, the parties hereto hereby covenant and agree as follows: 

ARTICLE I 

DEFINITIONS 
 SECTION 1.1. Certain Definitions. The following terms when used in this Amendment shall have the following meanings (such meanings to be equally applicable to the singular and plural forms
thereof): 
 “Administrative Agent” is defined in the preamble. 

“Amendment” is defined in the preamble. 
 “Amendment Effective Date” is defined in Article III. 

“Bank of America” is defined in the preamble. 

“Borrower” is defined in the preamble. 
 “Canadian Borrower” is defined in the preamble. 

  
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 “Credit Agreement” is defined in the first recital. 

“Existing Credit Agreement” is defined in the first recital. 

“German Borrower” is defined in the preamble. 

“Lender” is defined in the preamble. 

SECTION 1.2. Other Definitions. Terms for which meanings are provided in the Credit Agreement are, unless otherwise
defined herein or the context otherwise requires, used in this Amendment with such meanings. 
 ARTICLE II 

AMENDMENTS TO CREDIT AGREEMENT 
 Effective on (and subject to the occurrence of) the Amendment Effective Date, the provisions of the Existing Credit Agreement referred to below are hereby amended in accordance with this Article
II. Except as expressly so amended, the Existing Credit Agreement shall continue in full force and effect in accordance with its terms. 
 SECTION 2.1. Amendments to Article I. Article I of the Existing Credit Agreement is hereby amended as follows: 

SECTION 2.1.1. Amendments to Section 1.01. The following definitions in Section 1.01 of the Existing
Credit Agreement are hereby amended and restated in their entirety to read as follows: 
 “Consolidated EBITDA”
means, at any date of determination, an amount equal to Consolidated Net Income of the German Borrower and its Subsidiaries on a consolidated basis for the most recently completed Measurement Period plus (a) the following to the extent
deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges, (ii) the provision for federal, state, local and foreign income taxes payable, (iii) depreciation and amortization expense, (iv) Acquisition
Transaction Expenses in an aggregate amount not exceeding the Alternative Currency Equivalent of €1,500,000, (v) non-cash unrealized losses on Swap Contracts, (vi) non-cash unrealized losses attributable to foreign currency
transactions and (vii) other non-recurring expenses, as approved by the Administrative Agent in its reasonable discretion, reducing such Consolidated Net Income in such period or any future period (in each case of or by the German Borrower and
its Subsidiaries on a consolidated basis for such Measurement Period) and minus (b) the following to the extent included in calculating such Consolidated Net Income: (i) federal, state, local and foreign income tax credits,
(ii) non-cash unrealized gains on Swap Contracts, (iii) non-cash unrealized gains attributable to foreign currency transactions and (iv) all non-cash items increasing Consolidated Net Income, in each case, of or by the German Borrower
and its Subsidiaries for such Measurement Period. 

  
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 “Outstanding Amount” means (a) with respect to Term Loans on any date,
the amount of the aggregate outstanding principal amount thereof in the relevant currency thereof after giving effect to any borrowings and prepayments or repayments of such Term Loans occurring on such date; (b) with respect to Revolving
Credit Loans on any date, the Euro Equivalent amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Revolving Credit Loans occurring on such date; (c) with
respect to Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Swing Line Loans occurring on such date; and (d) with respect to any L/C
Obligations on any date, the Euro Equivalent amount of the aggregate outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the
L/C Obligations as of such date, including as a result of any reimbursements by the Company of Unreimbursed Amounts. 

“Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such
date (a) the fair value of the property and assets of such Person is greater than the total amount of liabilities (other than, with respect to the Canadian Borrower, liabilities consisting of shareholder loans and/or redeemable preferred shares
and with respect to WET Ukraine, liabilities consisting of shareholder loans and/or intercompany loans), including contingent liabilities, of such Person, (b) the present fair salable value of the property and assets of such Person is not less
than the amount that will be required to pay the probable liability (other than, with respect to the Canadian Borrower, liabilities consisting of shareholder loans and/or redeemable preferred shares and with respect to WET Ukraine, liabilities
consisting of shareholder loans and/or intercompany loans) of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities (other than, with
respect to the Canadian Borrower, liabilities consisting of shareholder loans and/or redeemable preferred shares and with respect to WET Ukraine, liabilities consisting of shareholder loans and/or intercompany loans) beyond such Person’s
ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property and assets would constitute an
unreasonably small capital, and (e) such Person is able to pay its debts and liabilities (other than, with respect to the Canadian Borrower, liabilities consisting of shareholder loans and/or redeemable preferred shares and with respect to WET
Ukraine, liabilities consisting of shareholder loans and/or intercompany loans), contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as
the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

  
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 SECTION 2.1.2. Amendment to Section 1.05.
Section 1.05 of the Existing Credit Agreement is hereby amended by inserting the parenthetical “(other than with respect to Term Loans)” immediately after the term “Outstanding Amounts” set forth therein. 

SECTION 2.2. Amendments to Article II. Article II of the Existing Credit Agreement is hereby amended as follows:

 SECTION 2.2.1. Amendment to Section 2.01. Section 2.01 of the Existing Credit Agreement is
hereby amended by inserting the following phrase at the end of such Section: 
 “As of the Funding Release Date, the
aggregate principal amount of Terms Loans denominated in Euro outstanding shall be €20,000,000 and the aggregate principal amount of Terms Loans denominated in U.S. Dollars outstanding shall be $14,065,000.” 

SECTION 2.2.2. Amendment to Section 2.05(b)(ii). Section 2.05(b)(ii) of the Existing Credit Agreement is
hereby amended by inserting the phrase “or as permitted by Section 7.02(c)” immediately after the phrase “Unrestricted Loan Party” set forth therein. 

SECTION 2.2.3. Amendment to Section 2.07(a). Section 2.07(a) of the Existing Credit Agreement is hereby
amended and restated in its entirety to read as follows: 
 “(a) Term Loans. The Borrowers shall repay to the Term
Lenders the aggregate principal amount of all Term Loans outstanding (i) on the Maturity Date (provided that such Term Loans denominated in Euro shall be repaid in Euro and such Term Loans denominated in any Alternative Currency shall be
repaid in such Alternative Currency) and (ii) on the last Business Day of each of August 2011 and September 2011 as set forth below and the last Business Day of each of March, June, September and December occurring during each other period as
set forth below commencing December 2011, in each case, in the respective amounts set forth opposite such periods (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in
Section 2.05):” 
  

					
	 Period
	  	 Amount for Term Loans

denominated in Euro
	  	 Amount for Term Loans

denominated in U.S.

Dollars

	 August 31, 2011
	  	€666,666.67	  	$468,833.33
	 September 30, 2011
	  	€333,333.33	  	$234,416.67
	 December 31, 2011 through December 31, 2015
	  	€1,000,000.00	  	$703,250.00
	 Maturity Date
	  	The then aggregate outstanding principal amount of such Term Loans denominated in Euro	  	The then aggregate outstanding principal amount of such Term Loans denominated in U.S. Dollars

  
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 SECTION 2.3. Amendments to Article VII. Article VII of the Existing
Credit Agreement is hereby amended as follows: 
 SECTION 2.3.1. Amendment to Section 7.02(c).
Section 7.02(c) of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: 

“(c) Investments of the German Borrower in any Unrestricted Loan Party and Investments of any Material Subsidiary in the German
Borrower or in another Material Subsidiary (other than any Chinese Subsidiary or WET Ukraine); provided that, notwithstanding the foregoing, each of the German Borrower and WET Hungary shall be permitted to make Investments in the form of
advance loans and other similar Indebtedness to WET Ukraine to be used by WET Ukraine (i) for Capital Expenditures and working capital purposes, but only in an aggregate amount not to exceed (A) €2,000,000 from May 16, 2011
through December 31, 2011 and (B) €2,000,000 during any calendar year commencing January 1, 2012 and thereafter and (ii) for WET Ukraine’s proposed warehouse expansion, but only in an aggregate amount not to exceed
€3,000,000; provided further that the German Borrower shall be permitted to increase its Investment in the Equity Interest of WET Ukraine in an amount not to exceed €7,000,000;” 

SECTION 2.3.2. Amendments to Section 7.05. Section 7.05 of the Existing Credit Agreement is hereby
amended by (a) deleting the “and” at the end of clause (f) thereof, (b) inserting “and” at the end of clause (g) thereof and (c) inserting a new clause (h) as follows: 

“(h) Dispositions of accounts receivables due and owing by WET Ukraine to the German Borrower in connection with any increase in the
Equity Interest of WET Ukraine by the German Borrower as permitted under Section 7.02(c);” 

SECTION 2.3.3. Amendment to Section 7.03(f). Section 7.03(f) of the Existing Credit Agreement is hereby
amended by deleting the reference to “Unrestricted Loan Parties” and inserting “Loan Parties” in lieu thereof. 

  
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 SECTION 2.3.4. Amendment to Section 7.06. Section 7.06 of
the Existing Credit Agreement is hereby amended by deleting (a) the “and” at the end of clause (c) thereof, (b) deleting clause (d) thereof in its entirety and (c) inserting new clauses (d) and (e) as
follows: 
 “(d) (i) the German Borrower may issue and sell its common Equity Interests, so long as the Net Cash Proceeds
thereof are applied to the prepayment of the Loans pursuant to Section 2.05(b) and (ii) the Canadian Borrower may issue common Equity Interests in connection with the replacement or reclassification of its current Class A special
shares; and 
 (e) WET Ukraine may issue common Equity Interests to the German Borrower in connection with the transactions
permitted by Section 7.02(c).” 
 SECTION 2.3.5. Amendment to Section 7.08.
Section 7.08 of the Existing Credit Agreement is hereby amended by deleting the reference to “Unrestricted Loan Parties” and inserting “Loan Parties” in lieu thereof. 

SECTION 2.3.6. Amendment to Section 7.12. Section 7.12 of the Existing Credit Agreement is hereby amended
and restated in its entirety to read as follows: 
 “7.12 Amendments of Organization Documents. Amend any of its
Organization Documents without the consent of the Required Lenders, except any amendment which (a) is minor or technical in nature, (b) would not be reasonably likely to adversely affect the rights and remedies of the Administrative Agent
or other Secured Parties under this Agreement or the other Loan Documents, (c) any amendment of the Organization Documents of the Canadian Borrower in connection with the replacement or reclassification of its Class A special shares as
permitted under Section 7.06(d) or any amendment of the Organization Documents of WET Ukraine in connection with the increase of its outstanding Equity Interest as permitted under Section 7.06(e).” 

SECTION 2.3.7. Amendment to Section 7.14. Section 7.14 of the Existing Credit Agreement is hereby amended
by inserting the following proviso immediately prior to the “.” at the end thereof: 
 “; provided that the
German Borrower may reduce any intercompany Indebtedness due and owing from WET Ukraine at any time and from time to time prior to the due date for regularly scheduled payments or the maturity thereof solely to the extent such reduction is made with
a corresponding increase of the Equity Interest of the German Borrower in WET Ukraine.” 
 SECTION 2.3.8.
Amendment to Section 7.17. Section 7.17 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: 
 “7.17 Lease Obligations. Create, incur, assume or suffer to exist any obligations as lessee (a) for the rental or hire of real or personal property in connection with any sale and
leaseback transaction, or (b) for the rental or hire of other real or personal property of any kind under leases or agreements to lease (excluding Capitalized Leases) having an original term of one year or more that would cause the direct and
contingent liabilities of the German Borrower and its Material Subsidiaries, on a consolidated basis, in respect of all such obligations to exceed €1,300,000 payable in any period of 12 consecutive months.” 

  
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 ARTICLE III 
 CONDITIONS TO EFFECTIVENESS 
 This Amendment shall become effective on and as of
the date first written above (the “Amendment Effective Date”) when the following conditions have been met: 
 SECTION 3.1. Counterparts. The Administrative Agent shall have received counterparts hereof executed on behalf of the Borrowers and the Required Lenders. 

SECTION 3.2. Costs and Expenses, etc. The Administrative Agent shall have received for the account of each Lender,
all fees, costs and expenses due and payable pursuant to Section 10.04 of the Credit Agreement, if then invoiced, including fees and expenses of counsel to the Administrative Agent. 

ARTICLE IV 

MISCELLANEOUS 
 SECTION 4.1. Cross-References. References in this Amendment to any Article or Section are, unless otherwise specified, to such Article or Section of this Amendment. 

SECTION 4.2. Loan Document Pursuant to Existing Credit Agreement. This Amendment is a Loan Document executed
pursuant to the Existing Credit Agreement and shall (unless otherwise expressly indicated therein) be construed, administered and applied in accordance with all of the terms and provisions of the Existing Credit Agreement, as amended hereby,
including Article X thereof. 
 SECTION 4.3. Successors and Assigns. This Amendment shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 SECTION 4.4.
Counterparts. This Amendment may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.
This Amendment constitutes the entire contract among the parties relating to the subject matter hereof and supersedes any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Delivery of an executed
counterpart of a signature page of this Amendment by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Amendment. 

SECTION 4.5. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK, INCLUDING FOR SUCH PURPOSES SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK. 
 SECTION 4.6. Full Force and Effect; Limited Amendment. Except as expressly amended hereby, all of the representations, warranties, terms, covenants, conditions and other provisions of the
Existing Credit Agreement and the other Loan Documents shall remain 

  
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unchanged and shall continue to be, and shall remain, in full force and effect in accordance with their respective terms. The amendments set forth herein shall be limited precisely as provided
for herein to the provisions expressly amended herein and shall not be deemed to be an amendment to or modification of any other term or provision of the Existing Credit Agreement or any other Loan Document or of any transaction or further or future
action on the part of any Loan Party which would require the consent of the Lenders under the Existing Credit Agreement or any of the Loan Documents. 
 SECTION 4.7. Representations and Warranties. In order to induce the Lenders to execute and deliver this Amendment, the Borrower hereby represents and warrants to the Lenders that, both before and
after giving effect to this Amendment, all statements set forth in clauses (a) and (b) of Section 4.03 of the Credit Agreement are true and correct; provided that with respect to the representation and warranty set forth in
Section 5.18 of the Credit Agreement as it relates to the Canadian Borrower and WET Ukraine, the Lenders hereby acknowledge the Borrower’s representation that the deviation from the definition of Solvent under the Existing Credit Agreement
as set forth in the Solvency Certificates delivered by each of the Canadian Borrower and WET Ukraine is immaterial. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the
date first above written. 
  

			
	W.E.T. AUTOMOTIVE SYSTEMS, AG,
	 a German stock corporation

		
	By:	 	  

		 	Name:
		 	Title:
	
	 W.E.T. AUTOMOTIVE SYSTEMS LTD.,
 a Canadian corporation

		
	By:	 	  

		 	Name:
		 	Title:

  
 Second Amendment to
Credit Agreement 

 
			
	 BANC OF AMERICA SECURITIES LIMITED,
 as Administrative Agent

		
	 By:
	 	  

		 	Name:
		 	Title:

  
 Second Amendment to
Credit Agreement 

 
			
	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 Second Amendment to
Credit Agreement 

 
			
	JPMORGAN CHASE BANK, N.A.
		
	 By:
	 	  

		 	Name:
		 	Title:

  
 Second Amendment to
Credit Agreement 

 
			
	COMERICA BANK
		
	 By:
	 	  

		 	Name:
		 	Title:

  
 Second Amendment to
Credit Agreement 

 
			
	THE HUNTINGTON NATIONAL BANK
		
	 By:
	 	  

		 	Name:
		 	Title:

  
 Second Amendment to
Credit Agreement 

 
			
	KEYBANK NATIONAL ASSOCIATION
		
	 By:
	 	  

		 	Name:
		 	Title:

  
 Second Amendment to
Credit AgreementSecond Amendment to Credit Agreement

 Exhibit 10.1 
 SECOND AMENDMENT TO CREDIT AGREEMENT 
 THIS SECOND AMENDMENT TO
CREDIT AGREEMENT (this “Amendment”), dated as of November 1, 2011, is entered into by and among WELLS FARGO CAPITAL FINANCE, LLC, formerly known as Wells Fargo Foothill, LLC, in its capacity as agent for the Lenders
and Bank Product Providers (in such capacity “Agent”), STREAM GLOBAL SERVICES, INC., a Delaware corporation (“Parent”), and each of Parent’s Subsidiaries signatory hereto (such Subsidiaries, together
with Parent, each individually a “Loan Party,” and individually and collectively, jointly and severally, the “Loan Parties”). Terms used herein without definition shall have the meanings ascribed to them in the
Credit Agreement defined below. 
 RECITALS 
 A. The Lenders, Agent and the Borrowers (as defined therein) have previously entered into that certain Credit Agreement dated as of October 1, 2009 and amended by that certain First Amendment to
Credit Agreement dated as of June 3, 2011 (as further amended, modified and supplemented from time to time, the “Credit Agreement”), pursuant to which the Lenders have made certain loans and financial accommodations available
to the Borrowers. 
 B. The Loan Parties have requested that the Lenders modify certain provisions of the Credit Agreement and
the other Loan Documents. 
 C. The Required Lenders are willing to provide the requested modifications on the terms and
conditions set forth herein and the Required Lenders, Agent and the Loan Parties now wish to modify the Loan Documents on the terms and conditions set forth herein. 
 D. The Loan Parties are entering into this Amendment with the understanding and agreement that, except as specifically provided herein, none of the Lender Group’s rights or remedies as set forth in
the Credit Agreement or any other Loan Document is being modified by the terms of this Amendment. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1.
Amendments to Credit Agreement. 
 (a) Section 6.9 of the Credit Agreement is hereby amended by (i) deleting
the word “and” at the end of clause (d) thereof, (ii) replacing the period at the end of clause (e) thereof with the phrase “; and”, and (iii) inserting the following new clause (f): 

“(f) Stream India may purchase, redeem or otherwise acquire or retire for value from Stream Mauritius for cash
consideration any or all of the Stock of Stream India held by Stream Mauritius in one or more transactions to be concluded on or before April 30, 2012.” 
 (b) Section 6.10 of the Credit Agreement is hereby amended by inserting the following new sentence at the end of such Section: 

 “Notwithstanding the foregoing, Stream India may change its statutory
fiscal year end from March 31 of any calendar year to December 31 of the immediately preceding calendar year.” 

(c) Section 6.12 of the Credit Agreement is hereby amended by deleting clause (g) thereof in its entirety and substituting in
lieu thereof the following: 
 “(g) transfer pricing arrangements among the Loan Parties and their
Subsidiaries and/or Affiliates,” 
 (d) The definition of “Consolidated EBITDA” set forth on Schedule 1.1 to the
Credit Agreement is hereby amended by (i) deleting the reference to “$20,000,000” set forth in clause (e)(iv) therein and replacing it with “$35,000,000”, (ii) deleting the reference to “$10,000,000” set forth
in the proviso to clause (e)(iv) and replacing it with “$15,000,000, and (iii) inserting the following text at the end of such definition: 
 “Notwithstanding anything herein to the contrary, the amendment to this definition set forth in Section 1(d) of the Second Amendment shall be applicable for all reporting, reporting periods and
financial covenant calculations required by this Agreement, including pursuant to Schedules 5.1 and 5.2, for the month beginning on September 1, 2011 and each month thereafter.” 

(e) The definition of “Permitted Indebtedness” set forth on Schedule 1.1 to the Credit Agreement is hereby amended by
(i) deleting the phrase “, and” at the end of clause (p) thereof, (ii) replacing the period at the end of clause (q) thereof with a comma, and (iii) inserting the following new clauses: 

“(r) to the extent constituting Indebtedness, obligations arising in connection with any guaranty of performance
pursuant to which (i) a Loan Party is the guarantor, surety or is otherwise obligated and (ii) a customer or a Person that, substantially concurrently with the provision of such guaranty of performance, will become a customer of one or
more of the Loan Parties is the beneficiary and such guaranty is in support of services to be performed in the People’s Republic of China by one or more Chinese Entities; provided that (x) such guaranty does not guaranty any payment
or other monetary obligations to any customer of any Chinese Entity performing such services and (y) if such Loan Party is required to perform services under any such guaranty, then all payments for the performance of such services shall be
made directly to a Loan Party and not to the Chinese Entity or Chinese Entities performing such services, unless such payment is otherwise restricted by law, regulation, guideline or directive (whether or not having the force of law) of the
People’s Republic of China (or any agency or instrumentality thereof), and 
 (s) Indebtedness owed to or
for the account of the issuer of any standby letter of credit or bank guarantee issued pursuant to clause (o) of the definition of Permitted Investments in an aggregate face or principal amount, in each case measured on the date of issuance of
such standby letter of credit or bank guarantee, not to exceed $300,000 (including, for the avoidance of doubt, and without duplication, Indebtedness consisting of obligations secured by Permitted Liens of the type described under clause (y) of
the definition of Permitted Liens).” 
 (f) Clause (o) of the definition of “Permitted Investments” set
forth on Schedule 1.1 to the Credit Agreement is hereby amended and restated to read in its entirety as follows: 

  
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 “(o) Investments in the form of collateral consisting of cash or Cash
Equivalents (or a combination thereof) deposited with HDFC Bank Ltd. (or an affiliate thereof) in support of the standby letter of credit or bank guarantee to be issued by HDFC Bank Ltd. (or an affiliate thereof) in connection with the application
for and issuance and maintenance of a registration of a domestic call center and IT enabled services business license by the India Department of Telecommunications (or any successor or replacement agency or body),” 

(g) The definition of “Permitted Liens” set forth on Schedule 1.1 to the Credit Agreement is hereby amended by
(i) deleting the phrase “, and” at the end of clause (w) thereof, (ii) replacing the semi-colon at the end of clause (x) thereof with the phrase “, and”, and (iii) inserting the following new clause (y):

 “(y) Liens on (A) cash and Cash Equivalents described in clause (o) of the definition of
Permitted Investments; provided that (i) the aggregate amount or value, as applicable, thereof does not exceed $300,000 measured on the date any such Permitted Investment is made, and (ii) such cash or Cash Equivalents is utilized
solely as collateral with respect to obligations arising under or in connection with the letter of credit or bank guarantee described in clause (o) of the definition of Permitted Investments, and (B) any Deposit Accounts or Securities
Accounts in which any cash and/or Cash Equivalents described in clause (A) above are held or credited;” 
 (h)
Schedule 1.1 of the Credit Agreement is hereby amended by adding, or amending, as applicable, the following defined terms in proper alphabetical order: 
 “Second Amendment” means that certain Second Amendment to Credit Agreement, dated as of November 1, 2011, by and among the Loan Parties, the Required Lenders party thereto and Agent.

 “Stream India” means Stream International Services, Pvt. Ltd., a company organized under the
laws of India. 
 “Stream Mauritius” means Stream Mauritius, Ltd., a company organized under the
laws of Mauritius.” 
 (i) The definition of “Excluded Assets” set forth in Section 1(w) of the Security
Agreement is hereby amended by (i) deleting the phrase “; and” after clause (ix) thereof, (ii) replacing the period at the end of clause (x) thereof with a semi-colon, and (iii) inserting the following new clause
(xi): 
 “(xi) (A) cash and/or Cash Equivalents described in clause (o) of the definition of Permitted
Investments in the Credit Agreement; provided that (i) the aggregate amount or value, as applicable, thereof does not exceed $300,000 measured on the date any such Permitted Investment is made, and (ii) such cash or Cash Equivalents
is utilized solely as collateral with respect to obligations arising under or in connection with the letter of credit or bank guarantee described in clause (o) of the definition of Permitted Investments, and (B) any Deposit Accounts or
Securities Accounts in which any cash and/or Cash Equivalents described in clause (A) above are held or credited;” 

2. Limited Waiver. Subject to the prior satisfaction of each of the conditions precedent set forth in Section 4 below to the
effectiveness of this Amendment, the Required Lenders hereby waive any failure to comply with Section 6.12 of the Credit Agreement or any other provision (including any representation or warranty) contained in any Loan Document resulting from
any transfer pricing arrangements among any Loan Party and VIE. The waivers in the immediately preceding sentence will 

  
 - 3 -

 
be limited precisely as written and will not be deemed (a) to be an amendment, consent or waiver of any other term or condition of the Credit Agreement or the other Loan Documents,
(b) to prejudice any right or remedy which the Lender Group may now have or may have in the future under or in connection with the Credit Agreement or the other Loan Documents (after giving effect to this Amendment), or (c) to be a consent
to any future amendment, consent or waiver or departure from the terms and conditions of the Credit Agreement or the other Loan Documents. 
 3. Stream India Stock Transaction. Within 10 Business Days (or such longer time period as Agent agrees to in its Permitted Discretion) following any date on which a Loan Party transfers cash
(including the proceeds of any Advances) to Stream India for Stream India’s ability to purchase, redeem or otherwise acquire or retire for value from Stream Mauritius for cash consideration any or all of the Stock of Stream India held by Stream
Mauritius pursuant to Section 6.9(f) of the Credit Agreement, (a) the Loan Parties shall cause Stream Mauritius to transfer such cash consideration, directly or indirectly, to one or more Loan Parties, and (b) Borrower shall repay any
Advances borrowed to the extent the proceeds thereof are used to finance any such repurchase, redemption, acquisition or retirement for value of Stock of Stream India (each, a “Stream India Stock Transaction”). The Loan Parties
further agree to provide Agent with written notice of the commencement of a Stream India Stock Transaction within one Business Day following the transfer of cash to Stream India for the purpose of conducting such Stream India Stock Transaction.

 4. Effectiveness of this Amendment. Agent must have received the following items, in form and content acceptable to
Agent in its Permitted Discretion, before this Amendment is effective. 
 (a) Amendment. This Amendment, fully executed.

 (b) Other Required Documentation. All other documents and legal matters in connection with the transactions
contemplated by this Amendment shall have been delivered or executed or recorded, as required by Agent in its Permitted Discretion. 
 Agent
shall promptly notify Parent that this Amendment has become effective. 
 5. Representations and Warranties. Each Loan
Party represents and warrants as follows: 
 (a) Authority. Each Loan Party has the requisite organizational power and
authority to execute and deliver this Amendment, and to perform its obligations hereunder and under the Loan Documents (as modified hereby) to which it is a party. The execution, delivery and performance by each Loan Party of this Amendment have
been duly approved by all necessary organizational action and no other organizational proceedings are necessary to consummate such transactions. 
 (b) Enforceability. This Amendment has been duly executed and delivered by the Loan Parties. This Amendment and each Loan Document (as modified hereby) is the legal, valid and binding obligation of
the Loan Parties party thereto, enforceable against each Loan Party party thereto in accordance with its terms, except as enforceability may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws
relating to or limiting creditors’ rights generally, and is in full force and effect. 
 (c) Representations and
Warranties. After giving effect to the provisions of this Amendment, the representations and warranties of the Borrowers or their respective Subsidiaries contained in each Loan Document are true and correct in all material respects (except that
such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date of this Amendment, as though made

  
 - 4 -

 
on and as of the date hereof (except to the extent that such representations and warranties relate solely to an earlier date). 

(d) No Default. After giving effect to the provisions of this Amendment, no event has occurred and is continuing that constitutes
a Default or an Event of Default. 
 6. Choice of Law. The validity of this Amendment, its construction, interpretation
and enforcement, the rights of the parties hereunder, shall be determined under, governed by, and construed in accordance with the internal laws of the State of New York governing contracts only to be performed in that State. 

7. Counterparts. This Amendment may be executed in any number of counterparts and by different parties and separate counterparts,
each of which when so executed and delivered, shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile,
pdf or other similar method of electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment. 
 8. Reference to and Effect on the Loan Documents. 
 (a) Upon and after the
effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan
Documents to “the Credit Agreement”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified hereby. 

(b) Except as specifically modified above, the Credit Agreement and all other Loan Documents, are and shall continue to be in full force
and effect and are hereby in all respects ratified and confirmed and shall constitute the legal, valid, binding and enforceable obligations of the Loan Parties to the Lender Group and Bank Product Providers, except as enforceability may be limited
by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally. 
 (c) Except as expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Lender Group under any of the Loan
Documents, nor constitute a waiver of any provision of any of the Loan Documents. 
 (d) To the extent that any terms and
conditions in any of the Loan Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement or any other Loan Document, after giving effect to this Amendment, such terms and conditions are hereby deemed amended
accordingly to reflect the terms and conditions of the Credit Agreement and such other Loan Documents as modified hereby. 
 9.
Ratification. The Loan Parties hereby ratify and reaffirm each and every term and condition set forth in the Credit Agreement and the Loan Documents, as modified hereby, effective as of the date hereof. 

10. Integration. This Amendment, together with the other Loan Documents, incorporates all negotiations of the parties hereto with
respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof. 

  
 - 5 -

 11. Severability. In case any provision in this Amendment shall be invalid, illegal
or unenforceable, such provision shall be severable from the remainder of this Amendment and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

12. Acknowledgment by Guarantors. In connection with this Amendment, each of the undersigned, being a Guarantor under its
respective Guaranty, hereby acknowledges and agrees to this Amendment and confirms and agrees that its Guaranty is and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that, upon the
effectiveness of, and on and after the date of this Amendment, each reference in such Guaranty to the Credit Agreement, “thereunder”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a
reference to the Credit Agreement as modified by this Amendment. 
 [signature pages follow] 

  
 - 6 -

 IN WITNESS WHEREOF, the parties have entered into this Amendment as of the date first above
written. 
  

			
	PARENT / U.S. BORROWER / GUARANTOR:
	
	 STREAM GLOBAL SERVICES, INC.,
 a Delaware corporation

		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Chief Executive Officer and President

  
 (Second
Amendment to Credit Agreement) 

 
			
	U.S. BORROWERS / GUARANTORS:
	
	 STREAM HOLDINGS CORPORATION,
 a Delaware corporation

		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Chief Executive Officer and President

  
 (Second
Amendment to Credit Agreement) 

 
			
	STREAM INTERNATIONAL INC.,
	a Delaware corporation
		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Chief Executive Officer and President

  
 (Second
Amendment to Credit Agreement) 

 
			
	STREAM NEW YORK INC.,
	a Delaware corporation
		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Chief Executive Officer and President

  
 (Second
Amendment to Credit Agreement) 

 
			
	STREAM GLOBAL SERVICES-US, INC.,
	a Delaware corporation
		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Chief Executive Officer and President

  
 (Second
Amendment to Credit Agreement) 

 
			
	STREAM GLOBAL SERVICES-AZ, INC.,
	an Arizona corporation
		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Chief Executive Officer and President

  
 (Second
Amendment to Credit Agreement) 

 
			
	STREAM INTERNATIONAL EUROPE B.V.,
	a besloten vennootschap met beperkte aansprakelijkheid organized under the laws of the Netherlands
		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Director

  
 (Second
Amendment to Credit Agreement) 

 
			
	FOREIGN BORROWERS / GUARANTORS:
	
	 SGS NETHERLANDS INVESTMENT CORPORATION B.V.,
 a besloten vennootschap met beperkte aansprakelijkheid organized under the laws of the Netherlands

		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Director
		
	By:	 	 /s/ Leo S. Vannoni

	Name:	 	Leo S. Vannoni
	Title:	 	Director

  
 (Second
Amendment to Credit Agreement) 

 
			
	STREAM INTERNATIONAL SERVICE EUROPE B.V.,
	a besloten vennootschap met beperkte aansprakelijkheid organized under the laws of the Netherlands
		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Director

  
 (Second
Amendment to Credit Agreement) 

 
			
	STREAM INTERNATIONAL CANADA INC.,
	an Ontario corporation
		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Chief Executive Officer and President

  
 (Second
Amendment to Credit Agreement) 

 
			
	GUARANTORS:
	
	 STREAM INTERNATIONAL (N.I.) LIMITED,
 a Northern Ireland private limited company

		
	By:	 	 /s/ Kathryn V. Marinello

	Name:	 	Kathryn V. Marinello
	Title:	 	Director

  
 (Second
Amendment to Credit Agreement) 

 
			
	WELLS FARGO CAPITAL FINANCE, LLC,
	a Delaware limited liability corporation, as Agent and on behalf of the Required Lenders at their request
		
	By:	 	 /s/ Jason Shanahan

	Name:	 	Jason Shanahan
	Title:	 	Vice President

  
 (Second
Amendment to Credit Agreement)

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