Document:

EXHIBIT 4.1

Exhibit 4.1

AMENDED AND RESTATED

ACQUISITION LOAN

PROMISSORY NOTE

			
	 	 	 
	$500,000.00
	 	November 18, 2008

Indianapolis, Indiana

     1. Agreement to Pay. FOR VALUE RECEIVED, CTI GROUP (HOLDINGS), INC., a
Delaware corporation (“Borrower”), hereby promises to pay to the order of NATIONAL CITY BANK, a
national banking association, its successors and assigns (“Lender”), the principal sum of Five
Hundred Thousand and No/100 Dollars ($500,000.00) (the “Loan”), or so much thereof as may be
advanced pursuant to that certain Loan Agreement dated December 22, 2006 between Borrower and
Lender (the “Loan Agreement”), as modified by that certain First Modification of Loan Documents
dated November 13, 2007, and as further modified by that certain Second Modification of Loan
Documents of even date herewith at the place and in the manner hereinafter provided, together with
interest thereon at the rate or rates described below, and any and all other amounts which may be
due and payable hereunder from time to time without relief from valuation or appraisement laws.

     2. Interest Rate. Interest shall accrue on the outstanding principal balance of this
Note from the date hereof through the Acquisition Loan Maturity Date (as defined in the Loan
Agreement) at the interest rate as set forth in the Loan Agreement.

     3. Payment Terms.  

     3.1 Principal and Interest. Payments of principal and interest due under
this Note, if not sooner declared to be due in accordance with the provisions hereof,
shall be made as follows:

     (a) Payment of interest shall be made as set forth in the Loan Agreement.

     (b) The unpaid principal balance of this Note, if not sooner paid or declared
to be due in accordance with the terms hereof or the terms of the Loan Agreement,
together with all accrued and unpaid interest thereon and any other amounts due and
payable hereunder or under any other Loan Document (as hereinafter defined), shall
be due and payable in full at the Acquisition Loan Maturity Date.

     3.2 Application of Payments. Prior to the occurrence of an Event of Default,
all payments and prepayments on account of the indebtedness evidenced by this Note shall
be applied as follows: (a) first, to fees, expenses, costs and other similar amounts then
due and payable to Lender, including, without limitation any prepayment premium, exit fee
or late charges due hereunder, (b) second, to accrued and unpaid interest on the principal
balance of this Note, (c) third, to the payment of principal due in the month in which the
payment or prepayment is made, (d) fourth, to any escrows,

 

 

impounds or other amounts which may then be due and payable under the Loan Documents,
(e) fifth, to any other amounts then due Lender hereunder or under any of the Loan
Documents, and (f) last, to the unpaid principal balance of this Note. Any prepayment on
account of the indebtedness evidenced by this Note shall not extend or postpone the due
date or reduce the amount of any subsequent payment of principal or interest due
hereunder. After an Event of Default has occurred and is continuing, payments may be
applied by Lender to amounts owed hereunder and under the Loan Documents in such order as
Lender shall determine, in its sole discretion.

     3.3 Method of Payments. All payments of principal and interest hereunder
shall be paid by automatic debit, wire transfer, check or in coin or currency which, at
the time or times of payment, is the legal tender for public and private debts in the
United States of America and shall be made at such place as Lender or the legal holder or
holders of this Note may from time to time appoint in the payment invoice or otherwise in
writing, and in the absence of such appointment, then at the offices of Lender at One
National City Center, Suite 200E, Indianapolis, Indiana 46255. Payment made by check
shall be deemed paid on the date Lender receives such check; provided, however, that if
such check is subsequently returned to Lender unpaid due to insufficient funds or
otherwise, the payment shall not be deemed to have been made and shall continue to bear
interest until collected. Notwithstanding the foregoing, the final payment due under this
Note must be made by wire transfer or other final funds. If requested by Borrower,
interest, principal payments and any fees and expenses owed Lender from time to time will
be deducted by Lender automatically on the due date from Borrower’s account with Lender,
as designated in writing by Borrower. Borrower will maintain sufficient funds in the
account on the dates Lender enters debits authorized by this Note. If there are
insufficient funds in the account on the date Lender enters any debit authorized by this
Note, the debit will be reversed. Borrower may terminate this direct debit arrangement at
any time by sending written notice to Lender at the address specified in the Loan
Agreement.

     3.4 Late Charge. If any payment of interest or principal due hereunder is not
made within ten (10) days after such payment is due in accordance with the terms hereof,
then, in addition to the payment of the amount so due, Borrower shall pay to Lender a “late
charge” of the greater of: (i) five cents for each whole dollar so overdue or (ii)
Twenty-Five Dollars ($25.00) to defray part of the cost of collection and handling such late
payment. Borrower agrees that the damages to be sustained by the holder hereof for the
detriment caused by any late payment are extremely difficult and impractical to ascertain,
and that the amount of five cents for each one dollar due is a reasonable estimate of such
damages, does not constitute interest, and is not a penalty.

     4. Security. This Note is secured by (i) the Loan Agreement, (ii) the Guaranties (the
"U.S. Guaranties”) dated December 22, 2006, and reaffirmed November 13, 2007, from CTI Data
Solutions (USA) Inc., CTI Billing Solutions, Inc., CTI Delaware Holdings, Inc., Centillion Data
Systems, L.L.C., CTI Data Solutions Ltd, CTI Group Ltd. (formerly CTI Billings Solutions Ltd) and
CTI Billing Solutions Ltd (formerly Ryder Systems Ltd) to Lender, (iii) the Security Agreements
(“U.S. Security Agreements”) dated December 22, 2006 from Borrower, CTI Data Solutions (USA) Inc.,
CTI Billing Solutions, Inc., CTI Delaware Holdings, Inc. and Centillion

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Data Systems, L.L.C. to Lender, (iv) the Charge Over Shares In Ryder Systems Ltd from Ryder
Systems Ltd to Lender dated December 22, 2006 (the “Charge Over Shares”), (v) the Debentures
between the Borrower, CTI Data Solutions Ltd and Ryder Systems Ltd, and Lender dated December 22,
2006 (the “UK Debentures”), and (vi) the Guarantee and Indemnities between CTI Data Solutions Ltd
and Ryder Systems Ltd, and Lender dated December 22, 2006 and reaffirmed on November 13, 2007 (the
“UK Guarantees”) (the Loan Agreement, the U.S. Guaranties, the U.S. Security Agreements, the Charge
Over Shares, the UK Debentures, the UK Guarantees and any other document now or hereafter given to
evidence or secure payment of this Note or delivered to induce Lender to disburse the proceeds of
the Loan, as such documents may hereafter be amended, restated or replaced from time to time, are
hereinafter collectively referred to as the “Loan Documents”). Reference is hereby made to the
Loan Documents (which are incorporated herein by reference as fully and with the same effect as if
set forth herein at length) for a statement of the covenants and agreements contained therein, a
statement of the rights, remedies, and security afforded thereby, and all matters therein
contained.

     5. Events of Default. The occurrence of any “Event of Default” (after the expiration
of any applicable notice and/or cure periods) under any of the Loan Documents shall constitute an
“Event of Default” under this Note.

     6. Remedies. At the election of the holder hereof, and after written notice to
Borrower, the principal balance remaining unpaid under this Note, and all unpaid interest accrued
thereon and any other amounts due hereunder, shall be and become immediately due and payable in
full upon the occurrence and during the continuance of any Event of Default. Failure to exercise
this option shall not constitute a waiver of the right to exercise same in the event of any
subsequent Event of Default. No holder hereof shall, by any act of omission or commission, be
deemed to waive any of its rights, remedies or powers hereunder or otherwise unless such waiver is
in writing and signed by the holder hereof, and then only to the extent specifically set forth
therein. The rights, remedies and powers of the holder hereof, as provided in this Note, the Loan
Agreement and in all of the other Loan Documents are cumulative and concurrent, and may be pursued
singly, successively or together against Borrower, any guarantor thereof, the security given at any
time to secure the repayment hereof, all at the sole discretion of the holder hereof. If any suit
or action is instituted or attorneys are employed to collect this Note or any part hereof, Borrower
promises and agrees to pay all costs of collection, including reasonable attorneys’ fees and court
costs.

     7. Covenants and Waivers. Borrower and all others who now or may at any time become
liable for all or any part of the obligations evidenced hereby, expressly agree hereby to be
jointly and severally bound, and jointly and severally: (i) waive and renounce any and all
homestead, redemption and exemption rights and the benefit of all valuation and appraisement
privileges against the indebtedness evidenced by this Note or by any extension or renewal hereof;
(ii) waive presentment and demand for payment, notices of nonpayment and of dishonor, protest of
dishonor, and notice of protest; (iii) waive any and all notices in connection with the delivery
and acceptance hereof and all other notices in connection with the performance, default, or
enforcement of the payment hereof or hereunder; (iv) waive any and all lack of diligence and delays
in the enforcement of the payment hereof; (v) agree that the liability of Borrower, guarantor,
endorser or obligor shall be unconditional and without regard to the liability of any other person
or entity for the payment hereof, and shall not in any manner be affected by any

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indulgence or forbearance granted or consented to by Lender to any of them with respect
hereto; (vi) consent to any and all extensions of time, renewals, waivers, or modifications that
may be granted by Lender with respect to the payment or other provisions hereof, and to the release
of any security at any time given for the payment hereof, or any part thereof, with or without
substitution, and to the release of any person or entity liable for the payment hereof; and
(vii) consent to the addition of any and all other makers, endorsers, guarantors, and other
obligors for the payment hereof, and to the acceptance of any and all other security for the
payment hereof, and agree that the addition of any such makers, endorsers, guarantors or other
obligors, or security shall not affect the liability of Borrower, any guarantor and all others now
liable for all or any part of the obligations evidenced hereby. This provision is a material
inducement for Lender making the Loan to Borrower.

     8. Other General Agreements.

     8.1 The Loan is a business loan and is not being made for personal, family or
household purposes.

     8.2 Time is of the essence hereof.

     8.3 This Note is governed and controlled as to validity, enforcement, interpretation,
construction, effect and in all other respects by the statutes, laws and decisions of the
State of Indiana. This Note may not be changed or amended orally but only by an
instrument in writing signed by the party against whom enforcement of the change or
amendment is sought.

     8.4 Lender shall not be construed for any purpose to be a partner, joint venturer,
agent or associate of Borrower or of any lessee, operator, concessionaire or licensee of
Borrower in the conduct of its business, and by the execution of this Note, Borrower
agrees to indemnify, defend, and hold Lender harmless from and against any and all
damages, costs, expenses and liability that may be incurred by Lender as a result of a
claim that Lender is such partner, joint venturer, agent or associate.

     8.5 This Note has been made and delivered at Indianapolis, Indiana and all funds
disbursed to or for the benefit of Borrower will be disbursed in Indianapolis, Indiana.

     8.6 The obligations and liabilities of Borrower under this Note shall be binding upon
and enforceable against Borrower and its successors and assigns. This Note shall inure to
the benefit of and may be enforced by Lender and its successors and assigns.

     8.7 If any provision of this Note is deemed to be invalid by reason of the operation
of law, or by reason of the interpretation placed thereon by any administrative agency or
any court, Borrower and Lender shall negotiate an equitable adjustment in the provisions
of the same in order to effect, to the maximum extent permitted by law, the purpose of
this and the validity and enforceability of the remaining provisions, or portions or
applications thereof, shall not be affected thereby and shall remain in full force and
effect.

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     8.8 If the interest provisions herein or in any of the Loan Documents shall result,
at any time during the Loan, in an effective rate of interest which, for any month,
exceeds the limit of usury or other laws applicable to the Loan, all sums in excess of
those lawfully collectible as interest of the period in question shall, without further
agreement or notice between or by any party hereto, be applied upon principal immediately
upon receipt of such monies by Lender, with the same force and effect as though the payer
has specifically designated such extra sums to be so applied to principal and Lender had
agreed to accept such extra payment(s) as a premium-free prepayment. Notwithstanding the
foregoing, however, Lender may at any time and from time to time elect by notice in
writing to Borrower to reduce or limit the collection to such sums which, when added to
the said first-stated interest, shall not result in any payments toward principal in
accordance with the requirements of the preceding sentence. In no event shall any agreed
to or actual exaction as consideration for this Loan transcend the limits imposed or
provided by the law applicable to this transaction or the makers hereof.

     8.9 Lender may at any time, upon prior written notice to Borrower, assign its rights
in this Note and the Loan Documents, or any part thereof and transfer its rights in any or
all of (i) the Collateral (as such term is defined in the U.S. Security Agreements), (ii)
the Charged Portfolio (as such term is defined in the Charge Over Shares), and (iii) the
Real Property, Chattels, Controlled Accounts, Policies, Intellectual Property,
Investments, Rental Income, Contracts and Debts (as such terms are defined in the UK
Debentures), and Lender thereafter shall be relieved from all liability with respect to
such Collateral. In addition, Lender may at any time sell one or more participations in
this Note. Borrower may not assign its interest in this Note, or any other agreement with
Lender or any portion thereof, either voluntarily or by operation of law, without the
prior written consent of Lender.

     8.10 Capitalized terms not defined herein shall have the same meaning given to them
in the Loan Agreement.

     9. Notices. All notices required under this Note will be in writing and will be
transmitted in the manner and to the addresses or facsimile numbers required by the Loan Agreement,
or to such other addresses or facsimile numbers as Lender and Borrower may specify from time to
time in writing.

     10. WAIVER OF JURY TRIAL. THE LENDER AND THE BORROWER, AFTER CONSULTING OR HAVING HAD
THE OPPORTUNITY TO CONSULT WITH COUNSEL, EACH KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE
IRREVOCABLY, THE RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING BASED HEREON, OR
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE OR ANY OF THE OTHER OBLIGATIONS, THE
COLLATERAL, OR ANY OTHER AGREEMENT EXECUTED OR CONTEMPLATED TO BE EXECUTED IN CONJUNCTION WITH THIS
NOTE OR THE LOAN DOCUMENTS, OR ANY COURSE OF CONDUCT OR COURSE OF DEALING IN WHICH THE LENDER AND
THE BORROWER ARE ADVERSE PARTIES. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE LENDER GRANTING
ANY FINANCIAL ACCOMMODATION TO THE BORROWER.

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     11. CONSENT TO JURISDICTION. BORROWER (i) AGREES THAT ANY SUIT FOR THE ENFORCEMENT OF
THIS NOTE OR ANY OF THE OTHER LOAN DOCUMENTS MAY BE BROUGHT IN THE COURTS OF THE STATE OF INDIANA
OR IN ANY FEDERAL COURT SITTING IN INDIANA; (ii) CONSENTS TO THE NONEXCLUSIVE JURISDICTION OF ANY
SUCH COURT AND SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON BORROWER BY MAIL AT THE ADDRESS
SPECIFIED IN THE LOAN AGREEMENT; AND (iii) HEREBY WAIVES ANY OBJECTION THAT IT MAY NOW OR IN THE
FUTURE HAVE TO THE VENUE OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT IS BROUGHT IN AN
INCONVENIENT COURT.

     12. Amendment and Restatement. This Note renews, amends, restates and replaces that
certain Promissory Note in the original principal amount of Two Million Six Hundred Thousand and
No/100 Dollars ($2,600,000.00) dated December 22, 2006 (the “Prior Note”). Neither this Note nor
the acceptance thereof shall be construed to be an accord and satisfaction with respect to, or
novation of, the Prior Note.

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     IN WITNESS WHEREOF, Borrower has executed and delivered this Note as of the day and year first
written above.

	 	 	 	 	 
	 	BORROWER:

CTI GROUP (HOLDINGS), INC.,

a Delaware corporation

 	 
	 	By:  	/s/ John Birbeck
 	 
	 	 	John Birbeck, 	 
	 	 	Chief Executive Officer 	 
	 

Above Signatures Witnessed

by the Following Employee

of Lender:

	 	 	 	 	 
	 

	 	/s/Timothy Swiss
 

	 	 
	 
	Printed:

	 	Timothy Swiss	 	 
	 
	Title:

	 	Relationship Manager	 	 

7EXHIBIT 10.1

EXHIBIT 10.1

SECOND MODIFICATION OF LOAN DOCUMENTS

     THIS SECOND MODIFICATION OF LOAN DOCUMENTS (this “Agreement”) is effective as of the
18 day of November, 2008, by and between CTI GROUP (HOLDINGS), INC., a Delaware corporation
(“Borrower”), and NATIONAL CITY BANK, a national banking association (the “Bank”).

RECITALS

     A. The Bank has heretofore made loans to Borrower in the aggregate principal amount of Ten
Million Six Hundred Thousand and No/100 Dollars ($10,600,000.00) pursuant to the terms and
conditions of a Loan Agreement dated as of December 22, 2006 between Borrower and the Bank (the
“Loan Agreement,” all terms not otherwise defined herein shall have the meanings set forth
in the Loan Agreement), and as evidenced by (i) an Acquisition Loan Promissory Note dated December
22, 2006, in the principal amount of Two Million Six Hundred Thousand and No/100 Dollars
($2,600,000.00) made payable by Borrower to the order of the Bank and (ii) a Revolving Line of
Credit Promissory Note dated December 22, 2006, in the principal amount of Eight Million and No/100
Dollars ($8,000,000.00) made payable by Borrower to the order of the Bank.

     B. The Bank and Borrower previously reduced the amount of the existing Revolving Line of
Credit to Three Million and No/100 Dollars ($3,000,000.00) pursuant to the terms and conditions of
a First Modification of Loan Documents (the “First Modification”) dated as of November 13,
2007.

     C. The Loans are further secured by Guaranties dated December 22, 2006, and subsequently
reaffirmed on November 13, 2007 from Guarantors to the Bank (collectively, the
“Guaranties”).

     D. Borrower desires to amend the Loan Documents in order to reduce the amount of the existing
Acquisition Loan to Five Hundred Thousand and No/100 Dollars ($500,000.00), release the Security
Letter of Credit requirement, and to otherwise amend the Loan Documents as set forth herein.

AGREEMENTS

     NOW, THEREFORE, in consideration of (i) the facts set forth hereinabove (which are hereby
incorporated into and made a part of this Agreement), (ii) the agreements by the Bank to modify the
Loan Documents, as provided herein, (iii) the covenants and agreements contained herein, and (iv)
for other good and valuable consideration, the receipt, adequacy and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows:

     1. Amendment to Loan Agreement.

     (a) Amendment of Section 1.1.

 

 

     Section 1.1 of the Loan Agreement is amended by amended and restated the following definitions
in their entirety, as follows:

     “Acquisition Loan Commitment” shall mean Five Hundred Thousand and No/100 Dollars
($500,000.00).

     “Acquisition Loan Maturity Date” shall mean December 21, 2009, unless extended by the
Bank pursuant to any modification, extension or renewal note executed by the Borrower and accepted
by the Bank in its sole and absolute discretion in substitution for the Acquisition Loan Note.

     “Borrowing Base Amount” shall mean an amount equal to the sum of (i) eighty percent
(80%) of the net amount of the Domestic Eligible Accounts and (ii) ninety percent (90%) of the net
amount of the Foreign Eligible Accounts.

     (b) Amendment of Article 2. Section 2.2(a) is amended and restated in its entirety as
follows:

     “Revolving Loan Commitment. Subject to the terms and conditions of this Agreement and
the other Loan Documents, and in reliance upon the representations and warranties of the Borrower
and its Subsidiaries set forth herein and in the other Loan Documents, the Bank agrees to make
advances on such Revolving Loan at such times as the Borrower may from time to time request until,
but not including, the Revolving Loan Maturity Date, and in such amounts as the Borrower may from
time to time request, provided, however, that the aggregate principal balance of all Revolving Loan
outstanding at any time shall not exceed the Revolving Loan Availability. Notwithstanding the
foregoing, the sum of the advances made by the Bank on the Revolving Loan plus any debt of
the Borrower that is not secured by (i) cash or (ii) a letter of credit shall not exceed four times
the trailing twelve (12) month Consolidated EBITDA. The Revolving Loan made by the Bank may be
repaid and, subject to the terms and conditions hereof, borrowed again up to, but not including,
the Revolving Loan Maturity Date unless the Revolving Loan is otherwise terminated or extended as
provided in this Agreement. The Revolving Loan shall be used by the Borrower for the purpose of
acquiring all of the shares of Ryder Systems Ltd and working capital.

     (c) Amendment of Article 3. The definition of Loan Documents set forth in Article 3
is amended to include any modifications of the Loan Agreement, including this Agreement and the
First Modification.

     (d) Amendment of Article 6.

     Section 6.1 is amended and restated in its entirety as follows:

     “6.1 Organization and Name. Each of the Borrower and its Subsidiaries (a) is a
corporation, partnership or limited liability company (or similar business entity) duly organized,
validly existing and in good standing under the laws of its jurisdiction of incorporation or

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formation, (b) has all requisite corporate, partnership or limited liability company (or the
equivalent company) power to own its property and conduct its business as now conducted and as
presently contemplated, and (c) is in good standing as a foreign corporation, partnership or
limited liability company (or similar business entity) and is duly authorized to do business in
each jurisdiction where such qualification is necessary. The exact legal name of the Borrower is
as set forth in the first paragraph of this Agreement, and the Borrower currently does not conduct,
nor has it during the last five (5) years conducted, business under any other name or trade name,
except CTI Group (Holdings), Inc., CTI Group, CTI Data Solutions (USA) Inc., CTI Billing Solutions
Inc., CTI Group Ltd (formerly CTI Billing Solutions Ltd.), CTI Delaware Holdings, Inc., CTI Data
Solutions Ltd., CTI Billings Solutions Ltd. (formerly Ryder Systems, Ltd.) and Centillion Data
Systems, L.L.C.”

     Section 6.19 is amended and restated in its entirety as follows:

     “6.19 Borrower’s Subsidiaries. With the exception of CTI Data Solutions (USA) Inc.,
CTI Billings Solutions, Inc., CTI Delaware Holdings, Inc., Centillion Data Systems, L.L.C., CTI
Data Solutions Ltd, CTI Group Ltd. (formerly CTI Billing Solutions Ltd) and CTI Billing Solutions
Ltd. (formerly Ryder Systems Ltd.) (effective immediately after disbursement of the Acquisition
Loan) the Borrower does not own any equity interests in any other corporation, association, trust,
partnership, limited liability company or other business entity.”

     2. Removal and Release of Security Letter of Credit. The Bank hereby removes the
requirement that Borrower obtain, and releases Borrower of its obligation to obtain, a Security
Letter of Credit as security for the Acquisition Loan. The Bank shall execute and deliver to
Skandinaviska Enskilda Banken a notice of termination and release of that certain Irrevocable
Standby Letter of Credit No. 5375 52 dated November 30, 2006 in order to effectuate this removal
and release.

     3. Representations and Warranties of Borrower. Borrower hereby represents, covenant
and warrants to the Bank as follows:

     (a) The representations and warranties in the Loan Agreement and the other Loan Documents are
true and correct as of the date hereof.

     (b) There is currently no Event of Default under the Loan Agreement or the other Loan
Documents and Borrower does not know of any event or circumstance which with the giving of notice
or passing of time, or both, would constitute an Event of Default under the Loan Agreement or the
other Loan Documents.

     (c) The Loan Documents are in full force and effect and, following the execution and delivery
of this Agreement, they continue to be the legal, valid and binding obligations of Borrower
enforceable in accordance with their respective terms, subject to limitations imposed by general
principles of equity.

     (d) There has been no material adverse change in the financial condition of Borrower,
Guarantors or any other party whose financial statement has been delivered to the Bank in

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connection with the Loan from the date of the most recent financial statement received by the
Bank.

     (e) As of the date hereof, Borrower has no claims, counterclaims, defenses, or set-offs with
respect to the Loan or the Loan Documents as modified herein.

     (f) Borrower has the requisite power and authority to execute and deliver this Agreement and
to perform the Loan Agreement and Loan Documents as modified herein. This Agreement has been duly
executed and delivered on behalf of Borrower.

     4. Conditions. The obligation of the Bank to execute and to perform this Agreement
shall be subject to full satisfaction of the following conditions precedent on or before the date
of execution of this Agreement:

     (a) Copies, certified as of the date of execution of this Agreement, of such corporate
documents and resolutions of Borrower and Guarantors as the Bank may request evidencing necessary
action by Borrower to obtain necessary authorization for the execution and performance of this
Agreement and all other agreements or documents delivered pursuant hereto as the Bank may
reasonably request.

     (b) This Agreement shall have been duly executed by Borrower and delivered to the Bank and
executed by the Bank.

     (c) The Amended and Restated Acquisition Loan Promissory Note shall have been duly executed by
Borrower and delivered to the Bank in the form attached hereto as Exhibit A.

     (d) Borrower shall have paid all costs and expenses incurred by the Bank in connection with
the negotiation, preparation and closing of this Agreement and the other documents and agreements
delivered pursuant hereto, including the reasonable attorneys’ fees.

     (e) No Event of Default, or any event which, with notice or lapse of time, or both would
constitute an Event of Default, shall have occurred and be continuing.

     (f) No adverse change in the financial condition or affairs of Borrower, as determined in
Bank’s reasonable discretion, shall have occurred.

     (g) No litigation or governmental proceeding shall have been instituted against Borrower or
any of its officers or shareholders which in the discretion of Bank, reasonably exercised,
materially adversely affects the financial condition or continued operation of Borrower.

     (h) The Bank shall have received such additional financial information, agreements, documents
and certifications, fully executed by Borrower, as may be reasonably requested by the Bank.

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     5. Miscellaneous.

     (a) This Agreement shall be governed by and construed in accordance with the laws of the State
of Indiana.

     (b) This Agreement shall not be construed more strictly against the Bank than against Borrower
merely by virtue of the fact that the same has been prepared by counsel for the Bank, it being
recognized that Borrower and the Bank have contributed substantially and materially to the
preparation of this Agreement, and Borrower, Guarantors and the Bank each acknowledges and waives
any claim contesting the existence and the adequacy of the consideration given by the other in
entering into this Agreement. Each of the parties to this Agreement represents that it has been
advised by its respective counsel of the legal and practical effect of this Agreement, and
recognizes that it is executing and delivering this Agreement, intending thereby to be legally
bound by the terms and provisions thereof, of its own free will, without promises or threats or the
exertion of duress upon it. The signatories hereto state that they have read and understand this
Agreement, that they intend to be legally bound by it and that they expressly warrant and represent
that they are duly authorized and empowered to execute it.

     (c) Notwithstanding the execution of this Agreement by the Bank, the same shall not be deemed
to constitute the Bank a venturer or partner of or in any way associated with Borrower or
Guarantors nor shall privity of contract be presumed to have been established with any third party.

     (d) Borrower and the Bank each acknowledges that there are no other understandings, agreements
or representations, either oral or written, express or implied, that are not embodied in the Loan
Documents and this Agreement, which collectively represent a complete integration of all prior and
contemporaneous agreements and understandings of Borrower, Guarantors and the Bank; and that all
such prior understandings, agreements and representations are hereby modified as set forth in this
Agreement. Except as expressly modified hereby, the terms of the Loan Documents are and remain
unmodified and in full force and effect.

     (e) This Agreement shall bind and inure to the benefit of the parties hereto and their
respective heirs, executors, administrators, successors and assigns.

     (f) Any references to the “Loan Agreement,” the “Notes,” the “Guaranties” or the “Loan
Documents” contained in any of the Loan Documents shall be deemed to refer to the Loan Agreement
and any modifications thereto, the Notes, the Guaranties and the other Loan Documents as amended
hereby. The paragraph and section headings used herein are for convenience only and shall not limit
the substantive provisions hereof. All words herein which are expressed in the neuter gender shall
be deemed to include the masculine, feminine and neuter genders. Any word herein which is expressed
in the singular or plural shall be deemed, whenever appropriate in the context, to include the
plural and the singular.

     (g) This Agreement may be executed in one or more counterparts, all of which, when taken
together, shall constitute one original Agreement.

     (h) Time is of the essence of each of Borrower’s obligations under this Agreement.

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the day
and year first above written.

	 	 	 	 	 	 	 	 	 
	LENDER:	 	BORROWER:	 	 
	 
	 	 	 	 	 	 	 	 
	NATIONAL CITY BANK,	 	CTI GROUP (HOLDINGS), INC,	 	 
	a national banking association	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Timothy Swiss
 

	 	By:
	 	     /s/ John Birbeck
 

	 	 
	

Printed:

	 	

Timothy Swiss
	 	 	 	John Birbeck, Chief Executive Officer	 	 
	 
	 	 	 	 	 	 	 	 
	Title:

	 	Relationship Manager	 	 	 	 	 	 

6

 

EXHIBIT A

AMENDED AND RESTATED

ACQUISITION LOAN PROMISSORY NOTE

A

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