Document:

ARI-AmendmenttoRMA-Exhibit102

Exhibit 10.2
AMENDMENT NO. 1 TO RAILCAR MANAGEMENT AGREEMENT
This Amendment to the Railcar Management Agreement (this “Amendment”) is dated as of January 15, 2014, between LONGTRAIN LEASING I, LLC, a Delaware limited liability company (“Owner”) and AMERICAN RAILCAR LEASING LLC, a Delaware limited liability company (together with any successor manager or permitted assignee, “Manager”).
WITNESSETH:
WHEREAS, Owner and Manager entered into that certain Railcar Management Agreement, dated as of December 20, 2012, (the “Agreement”); 
WHEREAS, the Owner  entered into that certain Credit Agreement dated December 20, 2012, by and among the Owner, American Railcar Industries, Inc. (the “Seller”), the various institutions from time to time party to the Credit Agreement, as Lenders, Fifth Third Bank, an Ohio banking corporation, as Original Administrative Agent (“Original Administrative Agent”), and Fifth Third Bank and Key Equipment Finance Inc. as Original Co-Syndication Agents (“Original Co-Syndication Agents”) (the “Original Credit Agreement”);
WHEREAS, Key Equipment Finance, a division of KeyBank National Association, a national banking association (“Key Equipment Finance”), has replaced Fifth Third Bank as Administrative Agent under the Credit Agreement (defined below) pursuant to the terms and conditions of that certain Assignment and Assumption of Administrative Agent Role dated as of January 15, 2014, by and between Fifth Third Bank and Key Equipment Finance;
WHEREAS, the Original Credit Agreement has been amended and restated by that certain Amended and Restated Credit Agreement dated as of January 15, 2014, by and among the Owner, Seller, the various institutions from time to time party to the Credit Agreement, as Lenders (the “Lenders”), and Key Equipment Finance (the “Administrative Agent” and “Syndication Agent”) (as it may from time to time be amended, restated, refinanced, or replaced, the “Credit Agreement”); and
WHEREAS, Owner and Manager desire to amend certain provisions of the Agreement, subject to the terms hereof;

NOW THEREFORE, in consideration of the premises and of the mutual covenants contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
		
	SECTION 1.
	DEFINED TERMS.

Unless otherwise defined herein, all capitalized terms used herein have the meanings assigned to such terms in the Agreement, as amended hereby.
		
	SECTION 2.
	AMENDMENT.

Upon the Amendment Effective Date (as hereinafter defined), the Agreement is hereby amended by:
(a)Deleting the second recital of the Agreement and substituting the following in lieu thereof:
“WHEREAS, Owner entered into that certain Credit Agreement dated December 20, 2012, among the Owner, American Railcar Industries, Inc. (the “Seller”), the various institutions from time to time party to the Credit Agreement, as Lenders, Fifth Third Bank, an Ohio banking corporation, as Original Administrative Agent (“Original Administrative Agent”) and Fifth Third Bank and Key Equipment Finance Inc. as Original Co-Syndication Agents (“Original Co-Syndication Agents”), which has been amended and restated by that certain Amended and Restated Credit Agreement, dated as of January 15, 2014, by and among the Owner, Seller, the various institutions from time to time party to the Credit Agreement, as Lenders (the “Lenders”), Key Equipment Finance, a division of KeyBank National Association, a national banking association (the “Administrative Agent” and “Syndication Agent”) (as it may from time to time be amended, restated, modified, waived, refinanced, or replaced, the “Credit Agreement”), pursuant to which the Lenders have provided a term loan to Owner in order to permit Owner to acquire certain Equipment and their related Lease Agreements;”
(b)    Deleting the definition of "Administrative Agent" in Section 1.1 in its entirety and substituting the following in lieu thereof:
“Administrative Agent” shall have the meaning assigned to such term in the Recitals.    
(c)    Deleting the definition of “Final Termination Date” in Section 1.1 in its entirety and substituting the following in lieu thereof:

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“Final Termination Date” shall mean the earlier of (i) the date on which all of the Obligations (other than contingent obligations not due and owing) are paid in full in cash and (ii) January 15, 2020.
(d)    Deleting Section 1.2(m) in its entirety and substituting the following in lieu thereof:
"(m)    all references to any contract, document or agreement shall mean such contract, document or agreement as amended, restated, supplemented, replaced, refinanced or otherwise modified and in effect from time to time."
(e)    Deleting Section 8.4 in its entirety and substituting the following in lieu thereof:
“Manager will deliver the financial statements required to be delivered by Manager under Section 6.1(a), (b) and (i) of the Credit Agreement.”
(f)    Deleting the notice information for the Administrative Agent in Section 16.3 in its entirety and substituting the following in lieu thereof:
Key Equipment Finance, a division of KeyBank National Association
1000 S. McCaslin Boulevard
Superior, CO  80027
Attention: Richard Anderson
Telephone: (720) 304-1247
Telecopy: (216) 370-9166
Email: richard.s.anderson@key.com
SECTION 3.    REPRESENTATIONS AND WARRANTIES.
Owner and Manager each hereby represents and warrants to each other that:
(a) the execution, delivery and performance of this Amendment has been duly authorized by all necessary action on its part, it has duly executed and delivered this Amendment, and this Amendment is a legal, valid and binding obligation, enforceable against it in accordance with its terms, except as the enforcement thereof may be subject to the effect of any applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally and general principles of equity (regardless of whether such enforcement is sought in a proceeding in equity or at law); and
(b) all representations and warranties contained in the Agreement are true and correct in all material respects as of the Amendment Effective Date and as though made on the Amendment 

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Effective Date, except (i) to the extent specifically made with regard to a particular date and (ii) for such changes as are a result of any act or omission specifically permitted under any Loan Document. 
The Manager further represents and warrants to the Owner that no Manager Termination Events have occurred or are continuing as of the Amendment Effective Date. 
		
	SECTION 4.
	CONDITIONS PRECEDENT TO EFFECTIVENESS OF AMENDMENT.

This Amendment shall become effective as of January 15, 2014 (the “Amendment Effective Date”) upon satisfaction of each of the following conditions:
(a)    Owner and Manager shall have executed this Amendment.
(b)    Administrative Agent shall have received a fully executed copy of this Amendment.
    
		
	SECTION 5.
	EXECUTION IN COUNTERPARTS.

This Amendment may be executed in 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 by facsimile or electronic means shall be equally effective as delivery of an originally executed counterpart.
		
	SECTION 6.
	GOVERNING LAW.

THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUCTED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE INTERNAL CONFLICTS OF LAWS PROVISIONS THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
		
	SECTION 7.
	EFFECT OF AMENDMENT; REAFFIRMATION OF AGREEMENT.

Owner and Manager hereby agree that:
(a)    Upon the effectiveness of the amendment set forth in Section 2 of this Amendment, each reference in the Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import shall mean and be a reference to the Agreement amended hereby.

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(b)    Except as specifically amended, waived or otherwise modified herein, the terms and conditions of the Agreement and any other documents, instruments and agreements executed and/or delivered in connection therewith, shall remain in full force and effect and, subject to such amendments, waivers and modifications herein set forth, are hereby ratified and confirmed.
[Signature Page Follows]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered as of the date first above written.
LONGTRAIN LEASING I, LLC,  
as Owner
By                        
Name    
Title    

AMERICAN RAILCAR LEASING LLC,  
as Manager
By                        
Name    
Title    

RECEIPT ACKNOWLEDGED

KEY EQUIPMENT FINANCE, A DIVISION OF KEYBANK NATIONAL ASSOCIATION 
as Administrative Agent
By                        
Name    
Title    

[SIGNATURE PAGE TO AMENDMENT NO. 1 TO RAILCAR MANAGEMENT AGREEMENT]exhibit10_1.htm

Exhibit 10.1 

PURCHASE AND ASSIGNMENT AGREEMENT

THIS PURCHASE AND ASSIGNMENT AGREEMENT (this “Agreement”), is entered into on January 14, 2014, by and between C&M Film Workshop Limited (the “Assignor”) and Great China Mania Holdings, Inc. (the “Assignee”).

RECITALS

WHEREAS, Assignor is the legal and beneficial owner of certain overseas distribution agreements (all of which are collectively referred to herein as the “Distribution Agreements”) giving Assignor the rights to distribute certain movies overseas;

 

 

WHEREAS, Assignor desires to assign to Assignee and Assignee desires to accept from Assignor the rights and responsibilities under all the Distribution Agreements on the basis of the representations, warranties and agreements contained in this Agreement;

WHEREAS, as consideration for assignment of the Distribution Agreements by Assignor as set forth herein, the Assignee has agreed to pay Assignor or its designees twenty million (20,000,000) shares of restricted common stock of the Assignee (the “Purchase Price”).

AGREEMENT

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the adequacy of which is hereby acknowledged, the parties hereto agree as follows:

1.           Assignment.

a)           On the Closing Date (as set forth below), for the payment of the Purchase Price by delivery of a stock certificate representing twenty million (20 million) newly-issued restricted common shares of Assignee, the Assignor hereby absolutely, irrevocably and unconditionally sells, assigns, conveys, contributes and transfers to the Assignee the rights and interests to the Distribution Agreements owned by the Assignor and all of his rights and benefits thereunder and conferred therein and the Assignee accepts such assignment.

b)           Closing Procedures.  The closing of the assignment contemplated hereunder shall take place on the date of execution hereof (the “Closing Date”) or such other date as mutually agreed by the parties hereto.  On the Closing Date, the Assignee shall pay the Purchase Price for the rights and interests to the Distribution Agreements.

2.           Additional Documents.  The Assignor agrees to take such further action and to execute and deliver, or cause to be executed and delivered, any and all other documents which are, in the opinion of the Assignee or its counsel, necessary to carry out the terms and conditions of this Assignment.

3.           Effective Date and Counterpart Signature.  This Agreement shall be effective as of the date first written above.  This Agreement, and acceptance of same, may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Confirmation of execution by telex or by telecopy or telefax of a facsimile signature page shall be binding upon that party so confirming.

4.           Representations and Warranties of the Assignee.

a)           Organization: Authority.  The Assignee is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with full right, corporate, partnership or other applicable power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations thereunder, and the execution, delivery and performance by the Assignee of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate or similar action on the part of the Assignee.  This Agreement, when executed and delivered by the Assignee, will constitute a valid and legally binding obligation of the Assignee, enforceable against the Assignee in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and any other laws of general application affecting enforcement of creditors’ rights generally, (b) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, or (c) to the extent the indemnification provisions contained herein may be limited by federal or state securities laws.

b)           No Conflicts: Advice.  Neither the execution and delivery of this Agreement, nor the consummation of the transactions contemplated hereby, does or will violate any constitution, statute, regulation, rule, injunction, judgment, order, decree, ruling, charge or other restriction of any government, governmental agency, or court to which the Assignee is subject or any provision of its organizational documents or other similar governing instruments, or conflict with, violate or constitute a default under any agreement, credit facility, debt or other instrument or understanding to which the Assignee is a party.  The Assignee has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with the Assignment of the Distribution Agreements.

c)           No Litigation.  There is no action, suit, proceeding, judgment, claim or investigation pending, or to the knowledge of the Assignee, threatened against the Assignee which could reasonably be expected in any manner to challenge or seek to prevent, enjoin, alter or materially delay any of the transactions contemplated hereby.

d)           Consents.  No authorization, consent, approval or other order of, or declaration to or filing with, any governmental agency or body or other Person is required for the valid authorization, execution, delivery and performance by the Assignee of this Agreement and the consummation of the transactions contemplated hereby.

5.           Representations and Warranties of the Assignor

  

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a)           Ownership.  Assignor owns and is conveying to Assignee all of its rights and responsibilities under the Distribution Agreements without limitation.

b)           No Consents, Approvals, Violations or Breaches.  Neither the execution and delivery of this Agreement by the Assignor, nor the consummation by Assignor of the transactions contemplated herby, will (i) require any consent, approval, authorization or permit of any third parties or parties to the Distribution Agreements that have not already been obtained, (ii) require any consent, approval, authorization or permit of, or filing, registration or qualification with or prior notification to, any governmental or regulatory authority under any law of the United States, any state or any political subdivision thereof applicable to Assignor, (iii) violate any statute, law, ordinance, rule or regulation of the United States, any state or any political subdivision thereof, or any judgment, order, writ, decree or injunction applicable to Assignor or any of  Assignor’s properties or assets, the violation of which would have a material adverse effect upon Assignor, or (iii) violate, conflict with, or result in a breach of any provisions of, or constitute a default (or any event which, with or without due notice or lapse of time, or both, would constitute a default) under, or result in the termination of any of the terms, conditions or provisions of any Distribution Agreements, bond, mortgage, indenture, deed of trust, license, lease, agreement or other instrument or obligation to which Assignor is a party.

6.           Governing Law: Submissions to Jurisdiction.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTURED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA, WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES.  EACH PARTY AGREES THAT ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING IN ANY WAY TO THIS AGREEMENT SHALL BE BROUGHT IN A COURT OF COMPETENT JURISDICTION SITTING IN HONG KONG.  EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY DEFENSE OF AN INCONVENIENT FORUM OR LACK OF PERSONAL JURISDICTION TO THE MAINTENANCE OF ANY ACTION OR PROCEEDING AND ANY RIGHT OF JURISDICTION OR VENUE ON ACCOUNT OF THE PLACE OF RESIDENCE OR DOMICILE OF ANY PARTY HERETO.  EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUREST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

7.           Amendments.  No provision hereof may be waived or modified other than by an instrument in writing signed by the party against whom enforcement is sought.

8.           Severability.  If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction.

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

ASSIGNOR:

C&M FILM WORKSHOP LIMITED.

/s/ Charlie Wong___________________________________

Charlie Wong, Sole Shareholder, Officer and Director

ASSIGNEE:

GREAT CHINA MANIA HOLDINGS, INC.

/s/ Kwan Yin Roy Kwong_____________________________

Kwan Yin Roy Kwong, Chief Executive Officer

 

  

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