SEC Contract Filing

Filing Date: 2016-11-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ss16650_ex1001.htm
<DESCRIPTION>AMENDMENT NO. 4 TO THE RECEIVABLES FINANCING AGREEMENT
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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">AMENDMENT NO. 4 TO RECEIVABLES FINANCING AGREEMENT</font></font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This AMENDMENT NO. 4 TO RECEIVABLES FINANCING AGREEMENT (this &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendment No. 4</font>&#8221;), dated as of October 28, 2016, is by and among VOLT FUNDING CORP. (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Volt Funding</font>&#8221;), as borrower (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Borrower</font>&#8221;), the Persons from time to time party hereto as Lenders and LC Participants, PNC BANK, NATIONAL ASSOCIATION (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">PNC</font>&#8221;), as LC Bank, as an LC Participant, as a Lender and as Administrative Agent, and VOLT INFORMATION SCIENCES, INC. (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Volt</font>&#8221;), as initial servicer (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Servicer</font>&#8221;).</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">BACKGROUND</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">WHEREAS, the parties hereto entered into the Receivables Financing Agreement as of July 30, 2015 (as amended, restated, supplemented or otherwise modified through the date hereof, the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Receivables Financing Agreement</font>&#8221;); and</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">WHEREAS, the parties hereto wish to amend the Receivables Financing Agreement pursuant to the terms and conditions set forth herein.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SECTION 1.&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Definitions</font>.&#160;&#160;Capitalized terms used but not defined in this Amendment No. 4 shall have the meanings assigned to them in the Receivables Financing Agreement.</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SECTION 2.&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments to Receivables Financing Agreement</font>.&#160;&#160;Effective as of the date hereof and subject to the satisfaction of the conditions precedent set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3</font> hereof, the Receivables Financing Agreement is hereby amended as follows:</font></div>

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<div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The definition of &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Maintech Transaction</font>&#8221; set forth in <font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.01</font> of the Receivables Financing Agreement pursuant to that certain Amendment No. 2 to Recei