Document:

exv10w1

 

Exhibit 10.1

SECOND AMENDMENT TO SECURITY AGREEMENT

THIS SECOND AMENDMENT TO SECURITY AGREEMENT (this “Amendment”) is made as of January 25, 2007, among
Global Cash Access Holdings, Inc., a Delaware corporation (formerly known as GCA Holdings, L.L.C.)
(“Holdings”), Global Cash Access, Inc., a Delaware corporation (formerly known as Global Cash Access, L.L.C.)
(“Borrower”), each subsidiary of Holdings listed on the signature pages hereto (each a “Subsidiary
Guarantor” and collectively with Holdings and Borrower, the “Loan Parties”), Bank of America, N.A., as the
Administrative Agent (the “Administrative Agent”).

W I T N E S S E T H:

WHEREAS, the Loan Parties and the Administrative Agent have heretofore entered into that certain Security
Agreement, dated as of March 10, 2004, as amended by that certain First Amendment to Security Agreement, dated as of
November 1, 2006 (as amended, the “Agreement”) pursuant to which, on the terms and conditions contained
therein, the Loan Parties granted to the Administrative Agent (for the benefit of the Finance Parties, as such term is
defined in the Agreement) a security interest in their assets;

WHEREAS, Holdings, the Borrower, the banks and other lending institutions from time to time party thereto (each a
“Lender” and, collectively, the “Lenders”) and the Administrative Agent have entered into that certain
Second Amended and Restated Credit Agreement dated as of November 1, 2006 (the “Second A/R Credit Agreement”);

WHEREAS, the parties hereto desire to amend the Agreement as set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, the Borrowers, the
Guarantors, the Lenders and the Administrative Agent hereby agree as follows:

SECTION 1. Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in
this Amendment, including the preamble and recitals, have the meanings provided in the Agreement.

SECTION 2. Amendment to Agreement.

(a) The definition of “Account Control Agreement” in Section 1.03 of the Agreement is hereby amended and restated
to read in its entirety as follows:

“Account Control Agreement” means (i) with respect to a Deposit Account, a deposit account
control agreement, substantially in the form of Exhibit C hereto or in such other form as is
reasonably acceptable to the Administrative Agent, among one or more Loan Parties, the Administrative Agent
and the bank which maintains such Deposit Account, and (ii) with respect to a Securities Account, a securities
account control agreement, substantially in the form of Exhibit B to the Pledge Agreement or in such
other form as is reasonably acceptable to the Administrative Agent, among one or more Loan Parties, the
Administrative Agent and the Securities Intermediary which maintains such Securities Account, in each case as
the same may be amended, modified or supplemented from time to time.

 

5

 

SECTION 3. Representations and Warranties. Each of the Loan Parties hereby represents and warrants that
(a) each of its representations and warranties set forth in Article III of the Agreement is true and correct in all
material respects as of the date of this Amendment (it being understood and agreed that any representation or warranty
which by its terms is made as of a specified date shall be required to be true and correct in all material respects
only as of such specified date); (b) this Amendment (i) has been duly authorized by all necessary limited liability
company or corporate proceedings of, and duly executed and delivered by, the Loan Parties and (ii) the Agreement, as
amended by this Amendment, is the valid and binding obligation of the Loan Parties, enforceable against the Loan
Parties, in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, fraudulent
conveyance or other similar laws affecting creditors’ rights generally and general principles of equity (regardless of
whether the application of such principles is considered in a proceeding in equity or at law); and (c) no consent,
approval, authorization, order, registration or qualification with any governmental authority is required for, and in
the absence of which would adversely effect, the valid execution and delivery or performance by the Loan Parties of
this Amendment or the performance by the Loan Parties of the Agreement, as amended by this Amendment.

SECTION 4. Reaffirmation. Except as expressly amended by this Amendment, the remaining terms, conditions
and provisions of the Agreement shall be and remain in full force and effect. Each party hereto hereby reaffirms and
confirms each of its obligations under the Agreement, as amended by this Amendment.

SECTION 5. Governing Law. This Amendment shall be governed by and construed in accordance with the
internal laws of New York.

SECTION 6. Counterparts. This Amendment may be executed in any number of counterparts, all of which taken
together shall constitute one and the same instrument, and any party hereto may execute this Amendment by signing one
or more counterparts.

SECTION 7. Successors and Assigns. This Amendment shall be binding upon each of the parties hereto and
their respective successors and assigns.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers
thereunto duly authorized as of the day and year first above written.

LOAN PARTIES:

GLOBAL CASH ACCESS HOLDINGS, INC.

By:                                                                              

Name: Harry C. Hagerty

Title: Chief Financial Officer

GLOBAL CASH ACCESS, INC.

By:                                                                              

Name: Harry C. Hagerty

Title: Chief Financial Officer

CENTRAL CREDIT, LLC

By:                                                                              

Name: Harry C. Hagerty

Title: Chief Financial Officer

 

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ADMINISTRATIVE AGENT:

BANK OF AMERICA, N.A., as Administrative Agent

By:                                                                              

Name:                                                                         

Title:                                                                           

 

8Exhibit 10.2

    Exhibit
      10.2

    FIRST
      AMENDMENT, dated as of January 22, 2007 (this “Amendment”)
      to the
      Credit Agreement (2006-B), dated as of December 15, 2006 (the “Agreement”),
      by
      and among AIRCASTLE LIMITED, an exempted company organized and existing under
      the laws of Bermuda (“Parent”), AIRCASTLE HOLDING CORPORATION LIMITED, an
      exempted company organized and existing under the laws of Bermuda (“AHCL”),
      AIRCASTLE IRELAND HOLDING LIMITED a limited liability company incorporated
      in
      Ireland (“AIHL”, and together with AHCL, the “Borrowers”), JPMORGAN CHASE BANK,
      N.A., as administrative agent (the “Administrative
      Agent”)
      and
      certain lenders from time to time parties thereto. Capitalized terms used but
      not otherwise defined in this Amendment shall have the meanings set forth in
      the
      Agreement and the rules of interpretation set forth therein shall apply to
      this
      Amendment.

    

    W
      I T
      N E S S E T H:

    

    WHEREAS,
      Parent, the Borrowers, the Lenders and the Administrative Agent are parties
      to
      the Agreement; 

     

    WHEREAS,
      the Borrowers have requested that the Lenders amend the Agreement, as more
      fully
      described herein; and

     

    WHEREAS,
      the Lenders are willing to agree to such amendment, but only upon the terms
      and
      subject to the conditions set forth herein; 

     

    NOW,
      THEREFORE, in consideration of the mutual agreements herein contained and other
      good and valuable consideration, receipt and sufficiency of which are hereby
      acknowledged, the parties hereto hereby agree as follows:

    

    
      	1.  	
              Amendment
                to Section 1.1 of the Agreement.

            

    

     

    Subsection
      1.1 of the Agreement is hereby amended by deleting the following defined term:
      “Total Revolving Credit Commitment” and inserting, in proper alphabetical order,
      the following new defined terms and related definitions: 

     

    (a)  “2007
      Equity Offering” means the initial issuance of Capital Stock of the Parent,
      other than the issuance of Capital Stock to employees, consultants or
      Affiliates, during Fiscal Year 2007. 

     

    (b)  “First
      Amendment” means the First Amendment to the Agreement dated as of January 22,
      2007, among Parent, the Borrowers, the Lenders and the Administrative
      Agent.

     

    (c)  “First
      Amendment Effective Date” means the date on which the conditions precedent set
      forth in paragraph 6 of the First Amendment shall have been satisfied or
      waived.

     

    (d)  “Interim
      Maturity Date” means the earlier of (a) (i) March 31, 2007 or (ii) if the fee
      referred to in clause (iii) of Section 2.10 is paid to the Lenders on or prior
      to March 31, 2007, December 31, 2007 and (b) the closing date with respect
      to
      the 2007 Equity Offering.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

     

    (e)  “Total
      Revolving Credit Commitment” means, on any date prior to the Interim Maturity
      Date, a principal amount equal to $450,000,000, and thereafter, $250,000,000,
      in
      each case as may be reduced from time to time in accordance with Section
      2.7.

     

    2.  Amendments
      to Sections 2.3(b) of the Agreement.
      Subsection 2.3(b) of the Agreement is hereby amended in its entirety as
      follows:

     

    “(i)
      Upon
      the issuance of any Capital Stock by any Borrower, an amount equal to 100%
      of
      the net proceeds thereof shall be applied on the date of such issuance towards
      the prepayment of the Loans.

    

    (ii)
      If
      as of the Interim Maturity Date the aggregate principal amount of the Loans
      outstanding shall be in excess of $250,000,000, the Borrowers shall prepay
      the
      Loans in an amount equal to the amount necessary to cause the aggregate
      outstanding principal amount of the Loans to be equal to or less than
      $250,000,000.”

    

    3.  Amendments
      to Section 2.10 (Fees) of the Agreement.
      Subsection 2.10 (Fees) of the Agreement is hereby amended and restated in its
      entirety to read as follows:

     

    “The
      Borrowers (i) shall pay the fees specified in the Fee Letters on the dates
      specified therein, (ii) shall pay a commitment fee for the period from and
      including the date hereof to the Revolving Credit Termination Date, computed
      at
      a rate of (A) 0.25% per annum if the average daily amount of Revolving Credit
      Outstandings during the period for which such payment is made are less than
      $125,000,000 or (B) 0.125% per annum if the average daily amount of Revolving
      Credit Outstandings during the period for which such payment is made are equal
      to or greater than $125,000,000, in each case on the average daily amount of
      the
      available unused Revolving Credit Commitment of such Lender during the period
      for which payment is made, payable monthly in arrears on each Fee Payment Date,
      commencing on the first such date to occur after the date hereof, and (iii)
      may,
      at its election, pay, on or prior to March 31, 2007, a fee equal to the product
      of 0.50% and $200,000,000 so that the Interim Maturity Date is extended as
      contemplated by clause (a) (ii) of the definition thereof.”

     

    4.  Amendments
      to Section 9.3 (Liens) of the Agreement.
      Subsection 9.3(xiii) of the Agreement is hereby amended and restated in its
      entirety to read as follows:

     

    “(xiii)
      Liens granted by a Borrower, Guarantor or any Subsidiary thereof in favor of
      a
      Lender or an Affiliate of a Lender in an aggregate amount not to exceed 7.5%
      times Consolidated New Worth, in connection with Indebtedness permitted under
      Section 9.4(c).”

     

    5.  Amendment
      to Exhibit A to the Credit Agreement.
      Exhibit
      A to the Credit Agreement shall be replaced in its entirety with a new Exhibit
      A
      attached as Annex I to this Amendment.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

     

    6.  Conditions
      to Amendment Effective Date.
      This
      Amendment shall become effective upon the date (the “Amendment
      Effective Date”)
      when
      the following conditions are satisfied:

     

    (a)  Counterparts.
      The
      Administrative Agent shall have received counterparts of this Amendment, duly
      executed and delivered by Parent, the Borrowers and the Lenders;

     

    (b)  No
      Default.
      No
      Default or Event of Default shall have occurred and be continuing on such date
      or after giving effect to the transactions contemplated herein; and

     

    (c)  Representations
      and Warranties.
      Each of
      the representations and warranties made by the Credit Parties in or pursuant
      to
      the Loan Documents shall be true and correct in all material respects on and
      as
      of the date hereof, before and after giving effect to the effectiveness of
      this
      Amendment, as if made on and as of the date hereof, except to the extent such
      representations and warranties expressly relate to a specific earlier date,
      in
      which case such representations and warranties were true and correct as of
      such
      earlier date. 

     

    (d)  Fees
      and Expenses.
      The
      Borrower shall pay all accrued and unpaid fees, costs and expenses in connection
      with the Amendment and the transactions contemplated thereby to the extent
      then
      due and payable, together with the reasonable legal fees and expenses of the
      Administrative Agent.

     

    
      	7.  	
              Continuing
                Effect of Loan Documents

            

    

     

    .
      This
      Amendment shall not constitute an amendment or waiver of any provision of the
      Agreement not expressly referred to herein and shall not be construed as an
      amendment, waiver or consent to any further or future action on the part of
      the
      Credit Parties that would require an amendment, waiver or consent of the Lenders
      or Administrative Agent. Except as expressly amended hereby, the provisions
      of
      the Agreement are and shall remain in full force and effect.

     

    
      	8.  	
              Counterparts

            

    

     

    .
      This
      Amendment may be executed by one or more of the parties hereto on any number
      of
      separate counterparts (including by facsimile), and all of said counterparts
      taken together shall be deemed to constitute one and the same
      instrument.

     

    
      	9.  	
              Severability

            

    

     

    .
      Any
      provision of this Amendment which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction.

     

    
      	10.  	
              Integration.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

     

    This
      Amendment and the other Loan Documents represent the agreement of the Credit
      Parties, the Administrative Agent and the Lenders with respect to the subject
      matter hereof, and there are no promises, undertakings, representations or
      warranties by the Administrative Agent or any Lender relative to the subject
      matter hereof not expressly set forth or referred to herein or in the other
      Loan
      Documents.

     

    
      	11.  	
              GOVERNING
                LAW

            

    

     

    .
      THIS
      AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT
      SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
      LAW
      OF THE STATE OF NEW YORK.

     

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
      executed and delivered by their proper and duly authorized officers as of the
      day and year first above written.

     

     

     

    
      
        	
                AIRCASTLE
                  LIMITED
                  ,
                  as Parent

              
	
                By:
                  /s/ Ron Wainshal

              
	
                Name:
                  Ron Wainshal

              
	
                Title:
                  Chief Executive Officer

              
	
                 

              
	
                AIRCASTLE
                  HOLDING CORPORATION LIMITED
                  ,
                  as Borrower

              
	
                By:
                  /s/ Ron Wainshal

              
	
                Name:
                  Ron Wainshal

              
	
                Title:
                  Chief Executive Officer

              
	
                 

              
	
                AIRCASTLE
                  IRELAND HOLDING LIMITED
                  ,
                  as Borrower

              
	
                By:
                  /s/ Ron Wainshal

              
	
                Name:
                  Ron Wainshal

              
	
                Title:
                  Director

              
	
                 

              
	
                JPMORGAN
                  CHASE BANK, N.A., as Agent and as Lender

              
	
                By:
                  /s/ Matthew H. Massie

              
	
                Name:
                  Matthew H. Massie

              
	
                Title:
                  Managing Director

              
	
                 

              
	
                BEAR
                  STEARNS CORPORATE LENDING INC., as a Lender

              
	
                By:
                  /s/ Victor Bulzacchelli

              
	
                Name:
                  / Victor Bulzacchelli

              
	
                Title:
                  Vice President

              
	
                 

              
	
                CITICORP
                  NORTH AMERICA, INC., as a Lender

              
	
                By
                  : /s/ Gaylord C. Holmes

              
	
                Name:
                  Gaylord C. Holmes

              
	
                Title:
                  Vice President

              

      

      

      
        
          
          

        

        
          
          

          
            
              
              

            

            
              
              

            

            
              
              

            

          

          ANNEX
            I

          

          EXHIBIT
            A

          

          Applicable
            Commitment Percentages

           

          
            	
                    Lenders

                  	
                    Revolving
                      Credit Commitment

                  	
                    Applicable

                    Commitment
                      Percentage

                  
	 	 	 
	
                    JPMorgan
                      Chase Bank, N.A.

                  	
                    $150,000,000.00

                  	
                    33.33%

                  
	
                    Bear
                      Stearns Corporate Lending Inc.

                  	
                    $150,000,000.00

                  	
                    33.33%

                  
	
                    Citicorp
                      North America, Inc.

                  	
                    $150,000,000.00

                  	
                    33.33%

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