Additional Amendments to Loan Agreement a. The Loan Agreement is hereby amended by deleting the definition of "Applicable Coverage Ratio" in its entirety and replacing it with the following: APPLICABLE COVERAGE RATIO - With respect to the Collateral Coverage Ratio, at all times, 1.75:1.
b. The Loan Agreement is hereby amended by deleting the definition of "Credit Policy Manual" in its entirety and replacing it with the following: CREDIT POLICY MANUAL - The Lease Underwriting Standards of Parent, dated as of December, 1998.
c. The Loan Agreement is hereby amended by deleting the definition of "Eligible Warehouse Leases" in its entirety and replacing it with the following: ELIGIBLE WAREHOUSE LEASES - Those Leases which have been designated by Borrower for inclusion in the Warehouse Borrowing Base and which are otherwise Eligible Leases and which may include Progress Payments which meet all of the specifications of an Eligible Lease except that the Lease has not yet commenced, provided that such Progress Payments may only be included in the Warehouse Borrowing Base for a period not to exceed 180 days, and provided that Leases (i) with a Lessee who has a designated Credit Rating of either 1 or 2, and (ii) with a stated term of greater than 84 months but less than 120 months, but which otherwise would constitute Eligible Warehouse Leases, may be included in the Borrowing Base so long as the aggregate payments due under all such Leases do not exceed the lesser of (A) 10% of the aggregate payments due under all Eligible Warehouse Leases, or (B) $5,000,000.
d. The Loan Agreement is hereby amended by deleting the definition of "Issuing Bank" in its entirety and replacing it with the following: ISSUING BANK - First Union National Bank, or its successors and assigns.
e. The Loan Agreement is hereby amended by deleting the definition of "Maximum Credit Limit" in its entirety and replacing it with the following: MAXIMUM CREDIT LIMIT - The sum of the Pro Rata Shares, which at the time of Closing equals Seventy One Million Two Hundred and Fifty Thousand Dollars ($71,250,000).
f. The Loan Agreement is hereby amended by adding Name Brand Computer Outlet, Inc. to the definition of "Sureties."
g. The Loan Agreement is hereby amended by deleting the definition of "Tangible Net Worth" in its entirety and replacing it with the following: TANGIBLE NET WORTH - At any time means, with respect to Borrowers on a consolidated basis, the amount of stockholders equity (excluding trademarks, goodwill, covenants not to compete...
Additional Amendments to Loan Agreement. 2.3.1. The following sub-sections shall be added at the end of Section 1.4 of the Loan Agreement:
Additional Amendments to Loan Agreement. The Loan Agreement is hereby amended as follows:
A. The following paragraph is added to the end of Section 2.2(B) of the Loan Agreement: "Solely for the purposes of calculating interest amounts and fees due hereunder, to the extent that the outstanding amount of Advances (the "Outstanding Advance Amount") on any day is less than Ten Million Dollars ($10,000,000) (the "Minimum Balance"), the difference between the Minimum Balance and the Outstanding Advance Amount shall be deemed to be an outstanding Advance and shall incur interest as a Base Rate Loan (and interest shall accrue thereon as with any other Base Rate Loan), and, in addition, the Collateral Management Fee and Unused Line Fee during such period shall also be based on an amount of Advances equal to the greater of (1) the Outstanding Advance Amount and (2) the Minimum Balance (regardless as to the actual amount outstanding). By way of example, if the Outstanding Advance Amount on any day is $8,900,000, then in addition to all other amounts owing hereunder, additional interest shall also be deemed to accrue (at the interest rate otherwise due for a Base Rate Loan) an amount equal to $1,100,000 (i.e., $10,000,000 less $8,900,000). In addition, the Collateral Management Fee and the Unused Line Fee would also be based on an Outstanding Advance Amount equal to Ten Million Dollars ($10,000,000) (rather than $8,900,000)."
B. Section 2.1(a)(2) (ii) of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
(a) Borrowers terminate the Revolving Facility in whole under this subsection 2.1(A)(2); (b) Borrowers voluntarily or involuntarily repay the Obligations in whole (other than reductions to zero of the outstanding balance of the Revolving Facility resulting from the ordinary course operation of the provisions of subsection 2.4), whether by virtue of Lenders' exercising their right of set off or otherwise; or (c) the Obligations are accelerated in whole by Lenders (each of the events described in (a), (b) and (c) above being hereinafter referred to as, a "Full Revolver Termination"), then at the effective date of any such Full Revolver Termination, Borrowers shall pay Lenders (in addition to the then outstanding principal, accrued interest and other Obligations relating to the Revolving Facility pursuant to the terms of this Agreement and any other Loan Document), to compensate Lenders for the loss of bargain and not as a penalty, an amount equal to Three Million Dollars ($3,...
Additional Amendments to Loan Agreement. 2.1 The Loan Agreement is further amended as follows:
a. The definition of the term "IBOR Rate Spread" is amended in its entirety to read as follows:
Additional Amendments to Loan Agreement. Effective on the date of this Agreement:
(a) Section 2.3 of the Loan Agreement shall be amended and restated to read in its entirety as follows:
Additional Amendments to Loan Agreement
