Document:

Exhibit 4.1

 

COMMITMENT INCREASE AGREEMENT

 

This
Commitment Increase Agreement (this “Agreement”) dated as of May 13,
2004, is entered into among Carriage Services, Inc., a Delaware corporation
(the “Borrower”), Bank of America, N.A., in its capacity as a Lender (“Bank
of America”), Wells Fargo Bank, National Association (formerly Wells Fargo
Bank Texas, National Association), in its capacity as a Lender (“Wells Fargo”),
and Bank of America, N.A., in its capacity as Administrative Agent (the “Administrative
Agent”).  Capitalized terms used
herein and not otherwise defined herein shall have the meanings attributed to
them in the Credit Agreement (as defined below).

 

PRELIMINARY
STATEMENTS

 

Reference is
made to that certain Credit Agreement dated as August 4, 2003, by and among the
Borrower, the Administrative Agent, Wells Fargo, as Syndication Agent, and the
Lenders that are parties thereto (as amended, modified, supplemented or
restated, the “Credit Agreement”).

 

Pursuant to
Section 2.14 of the Credit Agreement, the Borrower has requested an increase in
the Aggregate Revolving Commitments from $40,000,000 to $45,000,000.  Such increase in the Aggregate Revolving
Commitments is to become effective on May 13, 2004 (the “Increase Effective
Date”).  In connection with such
requested increase in the Aggregate Revolving Commitments, the Borrower, the
Administrative Agent, Bank of America and Wells Fargo hereby agree as follows:

 

1.             COMMITMENT
INCREASE.  Effective as of the
Increase Effective Date and provided that the Borrower has paid each of Bank of
America and Wells Fargo a fee of $15,625.00 in immediately available funds,
each of Bank of America and Wells Fargo agree to increase the amount of their
respective Revolving Commitment to $22,500,000.  Each party waives any notice requirement in Section 2.14
of the Credit Agreement with respect to such increase.

 

2.             SCHEDULE
2.01.  Effective as of the Increase
Effective Date, Schedule 2.01 to the Credit Agreement shall be amended
to be in the form of Schedule 2.01 to this Agreement.

 

3.             RATIFICATION.  The Credit Agreement, as modified by this
Agreement, is hereby ratified and confirmed in all respects.  Any reference to the Credit Agreement in any
Loan Document shall be deemed to refer to the Credit Agreement, as modified by
this Agreement.

 

4.             MISCELLANEOUS.  This Agreement shall be governed by and
construed in accordance with the laws of the State of Texas applicable to
agreements made and to be performed entirely within such state, provided that
each party hereto shall retain all rights under federal law.  This Agreement 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.

 

REMAINDER OF
PAGE LEFT INTENTIONALLY BLANK

 

1

 

IN WITNESS
WHEREOF, the parties hereto have executed this Agreement by their duly
authorized officers as of the date first above written.

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  CARRIAGE SERVICES, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joseph Saporito

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Joseph Saporito

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ADMINISTRATIVE AGENT:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A., as Administrative

  Agent

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Suzanne M. Paul

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Suzanne M. Paul

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  LENDERS:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gary L. Mingle

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Gary L. Mingle

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  WELLS FARGO BANK, NATIONAL

  ASSOCIATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Warren R. Ross

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Warren R. Ross

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
							

 

2

 

SCHEDULE 2.01

 

REVOLVING COMMITMENTS

AND REVOLVING PRO RATA SHARES

 

	
  Lender

  	
   

  	
  Revolving

  Commitment

  	
   

  	
  Revolving
  Pro Rata

  Share

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
  $

  	
  22,500,000

  	
   

  	
  50.0

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Wells Fargo Bank, National Association

  	
   

  	
  $

  	
  22,500,000

  	
   

  	
  50.0

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  $

  	
  45,000,000

  	
   

  	
  100.0

  	
  %

  

 

3Exhibit 10.1

 

POI ACQUISITION, L.L.C.

QUADRANGLE MASTER FUNDING LTD

 

May 17, 2004

 

Protection One Alarm Monitoring, Inc.

Protection One, Inc.

Network Multi-Family Security Corporation

c/o Protection One Alarm Monitoring, Inc.

818 South Kansas Avenue

Topeka, Kansas 
66612

 

Ladies and Gentlemen:

 

We refer to the:  (a) Credit
Facility Standstill Agreement, dated as of February 17, 2004 (the
“Agreement”), among Protection One Alarm Monitoring, Inc. (“POAM”), Protection
One, Inc., Network Multi-Family Security Corporation and POI Acquisition,
L.L.C. (“POI Acquisition”); and (b) letter from Quadrangle Master Funding Ltd
(“Quadrangle”) to POAM, dated February 27, 2004:  (i) advising POAM of Quadrangle’s assumption from POI Acquisition
of one-third of the obligations under the Credit Facility; and (ii) confirming
Quadrangle’s agreement to be bound by the obligations of POI Acquisition set
forth in the Agreement.  Capitalized
terms used but not defined herein shall have the meanings ascribed to such
terms in the Agreement.

 

Pursuant to section 3 of the Agreement, the Agreement shall
terminate and be of no further force and effect on the Debt Specified Date
(which, under clause (i), is May 17, 2004). 
By this letter and at your request, we hereby agree to amend the definition
of the Outside Date to mean the date that is 97 days after the Effective Time
(the “Amendment”); provided, however, that this Amendment shall not apply to
section 5 of the Agreement.  Except
as otherwise provided herein, the Agreement shall remain in full force and
effect subject to the terms and provisions thereof.

 

This letter may be executed in counterparts.  Please confirm your agreement with the foregoing by signing and
returning to the undersigned the duplicate copy of this letter enclosed herewith.

 

Very truly yours,

 

	
  POI ACQUISITION, L.L.C.

  
	
   

  
	
   

  
	
  By:

  	
  /s/ David Tanner

  	
   

  
	
  Name:

  	
  David Tanner

  
	
  Title:

  	
   

  
				

 

 

	
  QUADRANGLE MASTER

  
	
  FUNDING LTD

  
	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Michael Weinstock

  	
   

  
	
  Name: Michael Weinstock

  
	
  Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Agreed as of the date first written above:

  
	
   

  	
   

  
	
  PROTECTION ONE ALARM

  
	
  MONITORING, INC.

  
	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Darius G. Nevin

  	
   

  
	
  Name: Darius G. Nevin

  
	
  Title: Executive Vice President and

  
	
  Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  PROTECTION ONE, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Darius G. Nevin

  	
   

  
	
  Name: Darius G. Nevin

  
	
  Title: Executive Vice President and

  
	
  Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  NETWORK MULTI-FAMILY

  
	
  SECURITY CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Steve Williams

  	
   

  
	
  Name: Steve Williams

  
	
  Title: PresidentExhibit 10.2

 

 

POI ACQUISITION I, INC.

 

 

May 17, 2004

 

Protection One, Inc.

818 South Kansas Avenue

Topeka, Kansas 
66612

Attn:                    Darius G. Nevin

Executive Vice President
and Chief Financial Officer

 

Dear Mr. Nevin:

 

We refer to the Equity Standstill Agreement, dated as of
February 17, 2004 (the “Agreement”), by and between Protection One, Inc.
and POI Acquisition I, Inc.  Capitalized
terms used but not defined herein shall have the meanings ascribed to such
terms in the Agreement.

 

Pursuant to section 2.02 of the Agreement, the Agreement shall
terminate and be of no further force and effect on the Specified Date (which,
under clause (i), is May 17, 2004).  By
this letter and at your request, we hereby agree to amend the definition of the
Specified Date to mean the earlier of: 
(i) the date that is 97 days after the Effective Time; or (ii) the
occurrence of any Equity Standstill Termination Event.  Except as otherwise provided herein, the
Agreement shall remain in full force and effect subject to the terms and provisions
thereof.

 

This letter may be executed in counterparts.  Please confirm your agreement with the foregoing by signing and
returning to the undersigned the duplicate copy of this letter enclosed
herewith.

 

Very truly yours,

 

	
  POI ACQUISITION I, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ David Tanner

  	
   

  	
   

  
	
  Name: David Tanner

  
	
  Title:

  	
   

  
				

 

 

	
  Agreed as of the date first written above:

  	
   

  
	
   

  	
   

  
	
  PROTECTION ONE, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Darius G. Nevin

  	
   

  	
   

  
	
  Name: Darius G. Nevin

  	
   

  
	
  Title: Executive Vice President and

  	
   

  
	
  Chief Financial Officer

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