Document:

Exhibit 10.54

 

THIRD AMENDMENT

TO

REVOLVING CREDIT AGREEMENT

 

Third
Amendment dated as of March 25, 2002 to Revolving Credit Agreement (the “Third
Amendment”), by and among PEREGRINE SYSTEMS,
INC., a Delaware corporation (the “Borrower”), FLEET NATIONAL BANK and the other lending
institutions listed on Schedule  1 to the Credit Agreement (as
hereinafter defined) (the “Lenders”), amending certain provisions of the
Revolving Credit Agreement dated as of October 29, 2001 (as amended and in
effect from time to time, the “Credit Agreement”) by and among the Borrower,
the Lenders and FLEET NATIONAL BANK
in its capacity as administrative agent for the Lenders (the “Administrative
Agent”). Terms not otherwise defined herein which are defined in the Credit
Agreement shall have the same respective meanings herein as therein.

 

WHEREAS, the
Borrower and the Lenders have agreed to modify certain terms and conditions of
the Credit Agreement as specifically set forth in this Third Amendment;

 

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

 

§1.          Amendment
to  §1.1  of  the Credit Agreement.  Section 1.1 of the Credit Agreement is
hereby amended as follows:

 

(a)           The
definition of “Senior Funded Debt” is hereby amended by deleting such
definition in its entirety and restating it as follows:

 

Senior Funded Debt. At any time of
determination, the sum of (a) Consolidated Total Funded Debt, plus (b)
without duplication, at any time from and after February 11, 2002, and solely
for purposes of calculating compliance with §10.3 hereof, Consolidated
Outstanding Indebtedness, plus (c) without duplication, at any time from
and after March 25, 2002, and solely for purposes of calculating compliance
with §10.3 hereof, Consolidated Purchase Indebtedness, and minus (d)
Subordinated Debt.

 

(b)           Section
1.1 of the Credit Agreement is further amended by inserting the following
definitions in the appropriate alphabetical order:

 

Consolidated Purchase Indebtedness.  With respect to the Borrower and its
Subsidiaries, the aggregate amount of Consolidated Total Funded Debt of the
Borrower and its Subsidiaries pertaining to the IBM Indebtedness, the Inforte
Indebtedness, the Veritas Indebtedness and the Reno Indebtedness which is

 

 

actually outstanding on March 25, 2002 or
which is anticipated to be incurred at any time thereafter (and in the amounts
set forth in the relevant definitions for each category of Indebtedness),
whether or not such indebtedness is subsequently repaid or reduced in whole or
in part.

 

IBM Indebtedness.  The Indebtedness of the Borrower or its Subsidiaries incurred or
to be incurred to IBM in an aggregate amount of $2,400,000 related to the
installation and configuration of an upgrade of software.

 

Inforte Indebtedness.  The Indebtedness of the Borrower or its
Subsidiaries incurred or to be incurred to Inforte in an aggregate amount of
$1,500,000 related to the installation and configuration of an upgrade of
software.

 

Remedy Cayman Transaction.  The transaction or series of related
transactions occurring on or after March 25, 2002 pursuant to which Remedy
Cayman Ltd. transfers 100% of the Capital Stock of each of Remedy Software
Ireland Ltd. and Remedy International Ltd. to Peregrine Systems Global Ltd. in
exchange for not more than twenty percent (20%) of the Capital Stock of
Peregrine Systems Global Ltd. and, in connection therewith, Peregrine Systems
Global Ltd. authorizes and issues additional shares of its Capital Stock.

 

Reno Indebtedness.  The Indebtedness of the Borrower or its Subsidiaries incurred or
to be incurred to Reno Contracting in an aggregate amount of $400,000 related
to the installation of a power generator on certain Real Estate of the
Borrower.

 

Telco Transaction.  The transaction or series of related transactions occurring on or
after March 25, 2002 pursuant to which the Borrower dissolves or otherwise
causes the dissolution of each of Peregrine Nova Scotia Co. and Peregrine
Systems Ltd., immediately after which Telco Research Corporation shall be a
wholly-owned Subsidiary of the Borrower.

 

Veritas Indebtedness.  The Indebtedness of the Borrower or its
Subsidiaries incurred or to be incurred to Veritas in an aggregate amount of
$600,000 related to the purchase of backup and recovery software.

 

§2.          Amendment  to  §8  of
the  Credit  Agreement.  Section 8 of the Credit Agreement is hereby
amended as follows:

 

(a)           Section
8.6 of the Credit Agreement is hereby amended by inserting immediately after
the words “provided that nothing in this §8.6 shall prevent the Borrower
from discontinuing the operations (including, without limitation, a
dissolution” which appear in the second sentence of §8.6 the words “and the
Telco Transaction”.

 

(b)           Section
8.16 of the Credit Agreement is hereby amended by inserting immediately after
the end of §8.16 the following sentence: “Notwithstanding anything to the
contrary contained herein, the Borrower shall, within ten (10) days of
consummating the Telco 

 

2

 

Transaction,
execute and deliver to the Agent a supplement to the Stock Pledge Agreement
affirming the pledge by the Borrower of 100% of the Capital Stock of Telco
Research Corporation and deliver to the Agent the stock certificate of Telco
Research Corporation (and a stock power relating thereto, duly executed in
blank).”

 

§3.          Amendment
to  §9  of  the  Credit  Agreement.  Section 9.5.2 of the Credit Agreement is
hereby amended by deleting §9.5.2. in its entirety and restating it as follow:

 

9.5.2. Disposition of Assets.
The Borrower will not, and will not permit any of its Subsidiaries to, become a
party to or otherwise affect any Asset Sale, other than (a) the sale of
inventory, the licensing of intellectual property and the disposition of
obsolete assets, in each case in the ordinary course of business consistent
with past practices, (b) the sale by the Borrower of its Accounts Receivable
provided that such sale is permitted pursuant to §9.1 (i) hereof; (c) the sale
of assets so long as the value of all assets sold pursuant to this §9.5.2(c)
does not exceed, in the aggregate, $10,000,000; (d) Asset Sales constituting
transactions that are otherwise expressly permitted pursuant to §§9.3, 9.4, 9.5
and 9.6 hereof; (e) the sale by Remedy Cayman Ltd. to Peregrine Systems Global
Ltd. of 100% of the Capital Stock of each of Remedy Software Ireland Ltd. and
Remedy International Ltd. pursuant to the Remedy Cayman Transaction (and the
consent by the Administrative Agent under the Charge On Shares governing the
pledge of the Capital Stock of Peregrine Systems Global Ltd. to (1) the
issuance by Peregrine Systems Global Ltd. of the additional shares of its
Capital Stock necessary to consummate the Remedy Cayman Transaction and (2) the
existence of another shareholder of such Capital Stock), provided (i) no
Default or Event of Default has occurred and is continuing or would exist as a
result thereof; (ii) the Remedy Cayman Transaction is completed on or prior to
May 1, 2002; and (iii) the applicable Security Documents (including, without
limitation, the Charge On Shares) have been modified such that the Borrower is
pledging to the Administrative Agent, for the benefit of the Administrative
Agent and the Lenders, 65% of all of the issued and outstanding Capital Stock
of Peregrine Systems Global Ltd. (without regard to the actual percentage owned
by the Borrower).

 

§4.          Amendment
to  §10  of  the  Credit  Agreement.  Section 10 of the Credit Agreement is hereby
amended by deleting §10.3 in its entirety and restating it as follows:

 

10.3. Senior Funded Debt to EBITDA.  The Borrower will not at any time permit the
ratio of Senior Funded Debt outstanding on the date of determination to EBITDA
for the Reference Period ending on or immediately prior to such date, as the
case may be, to exceed (a) 1.00:1.00 at any time from the Closing Date through
December 30, 2001; (b) 0.349:1.00 at any time from and after February 11, 2002
through March 25, 2002 or (c) 0.399:1.00 at any time thereafter.

 

3

 

§5.           Conditions
to Effectiveness.  This Third
Amendment shall not become effective until the Administrative Agent receives a
counterpart of this Third Amendment, executed by the Borrower, each Guarantor
and the Required Lenders.

 

§6.           Representations
and Warranties.  The Borrower hereby
repeats, on and as of the date hereof, each of the representations and
warranties made by it in §7 of the Credit Agreement (except to the extent of
changes resulting from transactions contemplated or permitted by this Credit
Agreement and the other Loan Documents and changes occurring in the ordinary
course of business that singly or in the aggregate are not materially adverse,
and to the extent that such representations and warranties relate expressly to
an earlier date), provided that all references therein to the Credit
Agreement shall refer to such Credit Agreement as amended hereby.  In addition, the Borrower hereby represents
and warrants that the execution and delivery by the Borrower of this Third
Amendment and the performance by the Borrower of all of its agreements and
obligations under the Credit Agreement as amended hereby are within the
corporate authority of the Borrower and has been duly authorized by all
necessary corporate action on the part of the Borrower.

 

§7.           Ratification,
Etc.  Except as expressly amended
hereby, the Credit Agreement and all documents, instruments and agreements
related thereto, including, but not limited to the Security Documents, are
hereby ratified and confirmed in all respects and shall continue in full force
and effect.  The Credit Agreement and
this Third Amendment shall be read and construed as a single agreement.  All references in the Credit Agreement or
any related agreement or instrument to the Credit Agreement shall hereafter
refer to the Credit Agreement as amended hereby.

 

§8.           No
Waiver.  Nothing contained herein
shall constitute a waiver of, impair or otherwise affect any Obligations, any
other obligation of the Borrower, any Guarantor or any rights of the
Administrative Agent or the Lenders consequent thereon.

 

§9.           Counterparts.  This Third Amendment may be executed in one
or more counterparts, each of which shall be deemed an original but which
together shall constitute one and the same instrument.

 

§10.         Governing
Law.  THIS THIRD AMENDMENT SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE COMMONWEALTH
OF MASSACHUSETTS (WITHOUT REFERENCE TO CONFLICT OF LAWS).

 

4

 

IN WITNESS WHEREOF, the parties hereto have
executed this Third Amendment as a document under seal as of the date first
above written.

 

 

	
   

  	
  PEREGRINE SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FLEET NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
    William S. Rowe,
  Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ George A. Nicholson

  	
   

  
	
   

  	
   

  	
  George A. Nicholson, Vice
  President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  UNION BANK OF CALIFORNIA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James Heim

  	
   

  
	
   

  	
   

  	
    Name:  

  	
  JAMES HEIM

  	
   

  
	
   

  	
   

  	
    Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin M. McMahon

  	
   

  
	
   

  	
   

  	
    Name:  

  	
  Kevin M. McMahon

  	
   

  
	
   

  	
   

  	
    Title:

  	
  Managing Director

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven J. Stuckey

  	
   

  
	
   

  	
   

  	
    Name:  

  	
  Steven J. Stuckey

  	
   

  
	
   

  	
   

  	
    Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  KEYBANK NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Julien Michaels

  	
   

  
	
   

  	
   

  	
    Name:  

  	
  JULIEN MICHAELS

  	
   

  
	
   

  	
   

  	
    Title:

  	
  VICE PRESIDENT

  	
   

  
						

 

5

 

	
   

  	
  THE BANK OF NOVA SCOTIA

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ed Kofman

  	
   

  
	
   

  	
   

  	
    Name:  

  	
  Ed Kofman

  	
   

  
	
   

  	
   

  	
    Title:

  	
  Director

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BNP PARIBAS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Rafael C. Lumanian

  	
   

  	
  /s/ James F. McCann

  
	
   

  	
   

  	
    Name:

  	
  Rafael C. Lumanian

  	
   

  	
  James F. McCann

  
	
   

  	
   

  	
    Title:

  	
  Director

  	
   

  	
  Director

  
								

 

6

 

RATIFICATION OF GUARANTY

 

Each of the
undersigned guarantors hereby acknowledges and consents to the foregoing Third
Amendment as of March 25, 2002, and agrees that the applicable Guaranty from
such Guarantor dated as of October 29, 2001, December 20, 2001 and December 24,
2001, as applicable in favor of the Administrative Agent for the benefit of the
Administrative Agent and the Lenders and all other Loan Documents to which each
of the Guarantors are a party remain in full force and effect, and each of the
Guarantors confirms and ratifies all of its obligations hereunder.

 

	
   

  	
  PEREGRINE REMEDY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  TELCO RESEARCH CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HARBINGER HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PEREGRINE E-MARKETS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PEREGRINE DIAMOND, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  

 

7

 

	
   

  	
  PEREGRINE CONNECTIVITY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PEREGRINE ONTARIO BLUE JAYS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PEREGRINE CALIFORNIA PADRES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BALLGAME ACQUISITION CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  OCTOBER ACQUISITION CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PEREGRINE BODHA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
    Name:

  	
   

  
	
   

  	
   

  	
    Title:

  	
   

  

 

8Exhibit
10.55

 

FOURTH
AMENDMENT

TO

REVOLVING
CREDIT AGREEMENT AND FIRST AMENDMENT TO SECURITY

AGREEMENT

 

Fourth Amendment to Revolving Credit Agreement and First
Amendment to Security Agreement dated as of April 22, 2002 (the “Fourth
Amendment”), by and among PEREGRINE SYSTEMS,
INC., a Delaware corporation (the “Borrower”), FLEET NATIONAL BANK and the other lending
institutions listed on Schedule 1 to the Credit Agreement (as
hereinafter defined) (the “Lenders”), amending certain provisions of (a) the
Revolving Credit Agreement dated as of October 29, 2001 (as amended and in
effect from time to time, the “Credit Agreement”) by and among the Borrower,
the Lenders and FLEET NATIONAL BANK
in its capacity as administrative agent for the Lenders (the “Administrative
Agent”); and (b) the Security Agreement dated as of October 29, 2001 (as
amended and in effect from time to time, the “Security Agreement”) by and
between the Borrower and the Agent. Terms not otherwise defined herein which
are defined in the Credit Agreement shall have the same respective meanings
herein as therein.

 

WHEREAS, the Borrower and the Lenders
have agreed to modify certain terms and conditions of the Credit Agreement and
the Security Agreement as specifically set forth in this Fourth Amendment;

 

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

 

§1.          Amendment
to §l.l of the Credit Agreement.  Section 1.1 of the
Credit Agreement is hereby amended as follows:

 

(a)           The
definition of “Applicable Margin” is hereby amended by deleting the chart which
appears in such definition in its entirety and restating such chart as follows:

 

	
  Level

  	
   

  	
  Leverage
  Ratio

  	
   

  	
  Base

  Rate

  Loans

  	
   

  	
  Eurodollar

  Rate Loans

  	
   

  	
  Letter of

  Credit

  Fees

  	
   

  	
  Commitment

  Fee

  	
   

  
	
  IB

  	
   

  	
  Greater than or equal to 4.00:1.00 

  	
   

  	
  1.25

  	
  %

  	
  3.50

  	
  %

  	
  1.00

  	
  %

  	
  .50

  	
  %

  
	
  IA

  	
   

  	
  Less  than
  4:00:1.00 but greater than or equal 3.00:1.00

  	
   

  	
  0.75

  	
  %

  	
  3.00

  	
  %

  	
  1.00

  	
  %

  	
  .50

  	
  %

  
													

 

1

 

	
  I

  	
   

  	
  Less than 3.00:1.00 but greater than or
  equal to 2.00:1.00

  	
   

  	
  0

  	
  %

  	
  2.25

  	
  %

  	
  1.00

  	
  %

  	
  .50

  	
  %

  
	
  II

  	
   

  	
  Less than
  2.00:1.00 but greater than or equal to 1.50:1.00

  	
   

  	
  0

  	
  %

  	
  1.75

  	
  %

  	
  1.00

  	
  %

  	
  .50

  	
  %

  
	
  III

  	
   

  	
  Less than
  1.50: 1.00 but greater than or equal to 1.00:1.00

  	
   

  	
  0

  	
  %

  	
  1.50

  	
  %

  	
  1.00

  	
  %

  	
  .375

  	
  %

  
	
  IV

  	
   

  	
  Less than
  1.00:1.00

  	
   

  	
  0

  	
  %

  	
  1.25

  	
  %

  	
  1.00

  	
  %

  	
  .375

  	
  %

  

 

(b)           The
definition of “Security Documents” is hereby amended by inserting immediately
after the words “the Stock Pledge Agreements” a comma and the words “the Pledge
Agreement”.

 

(c)           Section
1.1 of the Credit Agreement is further amended by inserting the following
definition in the appropriate alphabetical order:

 

Pledge Agreement.  The Pledge Agreement, dated or to be dated on or prior to April
22, 2002, between the Borrower and the Administrative Agent and in form and
substance satisfactory to the Lenders and the Administrative Agent.

 

§2.          Amendment
to §8 of the Credit Agreement.  Section 8 of the
Credit Agreement is hereby amended as follows:

 

(a)           Section
8.18 of the Credit Agreement is hereby amended by deleting the words “by not
later than one hundred sixty (160) days after the Closing Date” which appear in
the last sentence thereof and substituting in place thereof the words “by not
later than May 15, 2002”

 

(b)           Section
8.20 of the Credit Agreement is hereby amended by deleting §8.20 in its
entirety and restating it as follows:

 

8.20.       Pledge of Certain Cash Collateral.  The Borrower shall, by not later than April 22, 2002 cash
collateralize one hundred percent (100%) of the Obligations (including, without
limitation, the Maximum Drawing Amount of all issued and outstanding Letters of
Credit) and, in connection therewith shall execute and deliver to the Administrative
Agent the Pledge Agreement and such other documentation as the Administrative
Agent may reasonably request. In addition, the Borrower hereby agrees that at
no time shall the aggregate amount of all cash collateral so pledged pursuant
to hereto and pursuant to the Pledge Agreement be in an amount which is less
than one hundred percent (100%) of the outstanding amount of the Obligations
(including, without limitation, the Maximum Drawing Amount of all issued and
outstanding Letters of Credit).

 

2

 

§3.          Amendment
to  §12 of the Credit Agreement.  Section 12 of the Credit Agreement is hereby amended by inserting
immediately after the text of §12.4 the following:

 

12.5.  Delivery of Cash Collateral.  The Borrower shall have delivered to the Administrative Agent
cash collateral in an amount equal to one hundred percent (100%) of the
aggregate amount of any Revolving Credit Loan or Maximum Drawing Amount of any
Letter of Credit requested and shall provide the Administrative Agent with
evidence satisfactory to the Administrative Agent that after giving effect to
the making of such Revolving Credit Loan or issuance, extension or renewal of
such Letter of Credit, §8.20 hereof will be satisfied.

 

§4.          Amendment
to  Security Agreement.  The Security
Agreement is hereby amended by deleting the words “all (a) accounts and (b) all
securities” which appear in the first sentence of §2 thereof and substituting
in place thereof the words “all (a) accounts, (b) cash, securities and
investment property in Account No. PER23179 with the Administrative Agent and
(c) all securities”.

 

§5.          Conditions
to  Effectiveness.  This Fourth
Amendment shall not become effective until the Administrative Agent receives
the following:

 

(a)           a
counterpart of this Fourth Amendment, executed by the Borrower, each Guarantor
and the Lenders; and

 

(b)           a
counterpart of the Pledge Agreement, executed by the Borrower and the
Administrative Agent, together with evidence that the Borrower has delivered to
the Administrative Agent cash in a sufficient amount to cash collateralize one
hundred percent (100%) of the Obligations (including, without limitation, the
Maximum Drawing Amount of all issued and outstanding Letters of Credit).

 

§6.          Representations
and Warranties.  The Borrower hereby repeats, on and as of
the date hereof, each of the representations and warranties made by it in §7 of
the Credit Agreement (except to the extent of changes resulting from
transactions contemplated or permitted by this Credit Agreement and the other
Loan Documents and changes occurring in the ordinary course of business that
singly or in the aggregate are not materially adverse, and to the extent that
such representations and warranties relate expressly to an earlier date and
except as to the representation made in §7.11 as it pertains to compliance with
certain of the covenants contained in §10 for the fiscal quarter ended March
31, 2002, provided nothing contained herein shall be construed as a waiver of
any such covenants), provided, that all references therein to the Credit
Agreement shall refer to such Credit Agreement as amended hereby.  In addition, the Borrower hereby represents
and warrants that the execution and delivery by the Borrower of this Fourth
Amendment and the performance by the Borrower of all of its agreements and
obligations under the Credit Agreement as amended hereby are within the
corporate authority of the Borrower and has been duly authorized by all
necessary corporate action on the part of the Borrower.

 

3

 

§7.          Ratification, Etc.  Except as expressly amended hereby, the
Credit Agreement and all documents, instruments and agreements related thereto,
including, but not limited to the Security Documents, are hereby ratified and
confirmed in all respects and shall continue in full force and effect.  The Credit Agreement and this Fourth
Amendment shall be read and construed as a single agreement.  All references in the Credit Agreement or
any related agreement or instrument to the Credit Agreement shall hereafter
refer to the Credit Agreement as amended hereby.

 

§8.          No
Waiver.  Nothing contained herein shall constitute a
waiver of, impair or otherwise affect any Obligations, any other obligation of
the Borrower, any Guarantor or any rights of the Administrative Agent or the
Lenders consequent thereon.

 

§9.          Counterparts.  This Fourth Amendment may be executed in one or more
counterparts, each of which shall be deemed an original but which together
shall constitute one and the same instrument.

 

§10.        Governing
Law.  THIS FOURTH AMENDMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE COMMONWEALTH OF
MASSACHUSETTS (WITHOUT REFERENCE TO CONFLICT OF LAWS).

 

4

 

IN WITNESS WHEREOF, the parties hereto have
executed this Fourth Amendment as a document under seal as of the date first
above written.

 

	
   

  	
  PEREGRINE SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Matt Gless

  	
   

  
	
   

  	
   

  	
    Name: Matt Gless

  
	
   

  	
   

  	
    Title: CFO

  
	
   

  	
   

  
	
   

  	
  FLEET NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By.

  	
  /s/ George A. Nicholson

  	
   

  
	
   

  	
   

  	
    George
  A. Nicholson, Vice President

  
	
   

  	
   

  
	
   

  	
  UNION BANK OF CALIFORNIA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JAMES HEIM

  	
   

  
	
   

  	
   

  	
    Name:
  JAMES HEIM

  
	
   

  	
   

  	
    Title:
  Vice President

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin M. McMahon

  	
   

  
	
   

  	
   

  	
    Name:
  Kevin M McMahon

  
	
   

  	
   

  	
    Title:
  managing Director

  
	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig A. Nelson

  	
   

  
	
   

  	
   

  	
    Name:
  CRAIG A NELSON

  
	
   

  	
   

  	
    Title:
  Vice President

  
	
   

  	
   

  
	
   

  	
  KEYBANK NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Julien Michaels

  	
   

  
	
   

  	
   

  	
    Name:
  JULIEN MICHAEIS

  
	
   

  	
   

  	
    Title:
  VICE PRESIDENT

  

 

5

 

	
   

  	
  THE BANK OF NOVA SCOTIA

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Ed Ko fman

  	
   

  
	
   

  	
   

  	
    Name:
  Ed Ko fman

  
	
   

  	
   

  	
    Title:
  Director 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BNP PARIBAS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jean Plassard

  	
  /s/ James F.McCann

  	
   

  
	
   

  	
   

  	
    Name:

  
	
   

  	
   

  	
    Title:

  
						

 

6

 

RATIFICATION
OF GUARANTY

 

Each of the
undersigned guarantors hereby acknowledges and consents to the foregoing Fourth
Amendment as of March 25, 2002, and agrees that the applicable Guaranty from
such Guarantor dated as of October 29, 2001, December 20, 2001 and December 24,
2001, as applicable, in favor of the Administrative Agent for the benefit of
the Administrative Agent and the Lenders and all other Loan Documents to which
each of the Guarantors are a party remain in full force and effect, and each of
the Guarantors confirms and ratifies all of its obligations thereunder.

 

	
   

  	
  PEREGRINE REMEDY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  TELCO RESEARCH CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title: 

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  HARBINGER HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  PEREGRINE E-MARKETS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  PEREGRINE DIAMOND, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
							

 

7

 

	
   

  	
   

  
	
   

  	
  PEREGRINE CONNECTIVITY, INC..

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  PEREGRINE ONTARIO BLUE JAYS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  PEREGRINE CALIFORNIA PADRES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  BALLGAME ACQUISITION CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  OCTOBER ACQUISITION CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
	
   

  	
   

  
	
   

  	
  PEREGRINE BODHA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Eric P. Deller

  	
   

  
	
   

  	
   

  	
    Name:

  	
  Eric P. Deller

  
	
   

  	
   

  	
    Title:

  	
  Secretary

  
								

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]