EXHIBIT 10.42
SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT
THIS SECOND AMENDMENT is made as of September 1, 1998, by and among Tier
Technologies, Inc., a California corporation (the "Company"), Tier Technologies
(United Kingdom) Inc., a Delaware corporation ("Tier UK"), and BankBoston,
N.A., a national banking association (the "Bank").
WHEREAS, the parties hereto are parties to a certain Revolving Credit
Agreement dated as of March 31, 1998 as amended by an Amendment to the Revolving
Credit Agreement dated as of March 31, 1998, (the Revolving Credit Agreement as
amended by the Amendment is referred to herein as the "Credit Agreement"); and
WHEREAS, the parties desire to further amend the Credit Agreement in a
certain respect.
NOW THEREFORE, the parties hereto hereby agree to amend the Credit
Agreement as follows:
1. The Credit Agreement is hereby amended by deleting Section 6.9
thereof in its entirety and by substituting the following new Section in lieu
thereof:
"6.9 Capital Expenditures. Neither the Company nor any of its
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Subsidiaries shall make Capital Expenditures in excess of the
following amounts in each year specified below, exclusive of
Capital Expenditures incurred in connection with the
acquisition of any Person:
Fiscal Year Maximum Capital Expenditure
------------------------- ---------------------------------
1998 $2,500,000
1999 $4,500,000
2000 $7,000,000
and thereafter"
2. Except as specifically provided herein, all of the terms and
conditions of the Credit Agreement shall remain in full force and effect.
3. This Second Amendment may be signed in any number of
counterparts with the same effect as if the signatures hereto and thereto were
upon the same instrument.
IN WITNESS WHEREOF, the parties have caused this Second Amendment to be
executed by their duly authorized officers as of the day and year first above
written.
TIER TECHNOLOGIES, INC.
By: /s/ XXXXXX X. XXXX
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Name: Xxxxxx X. Xxxx
Title: EVP & CFO
TIER TECHNOLOGIES
(UNITED KINGDOM), INC
By: /s/ XXXXXX X. XXXX
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Name: Xxxxxx X. Xxxx
Title: Director
BANKBOSTON, N.A.
By: /s/ XXXX X. XXXXXXXX
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Name: Xxxx X. Xxxxxxxx
Title: Vice President
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