Exhibit 10.16(b)
AMENDMENT NO. 1
This Amendment No. 1 to Credit Agreement, dated as of February __, 1999
(this "Amendment No. 1"), is executed by and among Creditrust Corporation, as
Borrower (the "Borrower") and Sunrock Capital Corp., as agent ("Agent") and is
effective as of October 28, 1998.
RECITAL
WHEREAS, the parties hereto have executed and delivered a Credit
Agreement (the "Agreement") dated as of October 28, 1998, and desire to amend a
provision of that Agreement to be effective as of the date of the Agreement;
NOW, THEREFORE, in consideration of the mutual agreements herein
contained, each party agrees as follows:
ARTICLE 1
DEFINITIONS; AMENDMENT
SECTION 1.1. Definitions. Any capitalized term used herein but not
defined herein shall have the meaning ascribed to it in the Agreement.
SECTION 1.2. Amendment. The definition of "Debt" is hereby amended by
adding at the end of such definition the following phrase:
", and excluding any Securitized Offering of a Special Purpose
Entity."
ARTICLE II
MISCELLANEOUS PROVISIONS
SECTION 2.1. Effect. This Amendment No. 1 does not alter, amend or waive
any of the terms or provisions of the Agreement except as expressly set forth
herein.
SECTION 2.2. Governing Law. This Amendment No. 1 shall be governed by
and construed in accordance with the laws of the Commonwealth of Pennsylvania.
IN WITNESS WHEREOF, the parties have caused this Amendment No. 1 to be
duly executed by their respective officers as of the day and year first above
written to be effective as of October 28, 1998.
CREDITRUST CORPORATION,
as Borrower
By: /s/ Xxxxxx X. Xxxxxx
--------------------------------
Xxxxxx X. Xxxxxx
Chairman and
Chief Executive Officer
SUNROCK CAPITAL CORP.
By: /s/ Xxxxxx Erdmore
--------------------------------
Name: Xxxxxx Erdmore
Title: President and CEO
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