AMENDMENT TO CREDIT AGREEMENT
THIS AMENDMENT TO CREDIT AGREEMENT, made this Thirty-first day of October, 1997,
by and between THE SOURCE INFORMATION MANAGEMENT COMPANY (the "Borrower") and
WACHOVIA BANK, N.A. (the "Bank");
WITNESSETH:
WHEREAS, the Borrower and the Bank entered into a Credit Agreement dated the
Fourteenth day of November, 1996; and
WHEREAS the Borrower and the Bank now mutually desire to effect certain
amendments to the Credit Agreement;
NOW, THEREFORE in consideration of the premises and the mutual covenants herein
and in the Credit Agreement contained, the parties agree as follows:
The first Sentence of Section 2.01(a) of the Credit Agreement is
deleted in its entirety and the following is substituted therefor:
Subject to the terms and conditions set forth herein, you agree to make
loans and advances to us from time to time; provided, however, (i) the
aggregate outstanding principal amount of Receivable Based Advances
shall at no time, without your consent, exceed eighty-five percent
(85%) of the net amount of Eligible Current Receivables, plus seventy
percent (70%) of the net amount of Eligible Non-Current Receivables (as
defined in the General Security Agreement); and (ii) in no event shall
the aggregate principal amount of Receivable Based Advances at any time
exceed Fifteen Million dollars ($15,000,000.00).
Except as herein amended, the terms and provisions of the Credit Agreement and
all subsequent Amendments to the Credit Agreement shall be and remain in full
force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to the Credit
Agreement to be executed as of the year and the day first above written.
CONSENTED TO AND AGREED:
THE SOURCE INFORMATION MANAGEMENT COMPANY
By:_____________________________________
President and Chief Operating Officer
ATTEST:
[CORPORATE SEAL]
By:____________________________________
Assistant Secretary
WACHOVIA BANK, N.A.
By:____________________________________
Vice President
