AMENDMENT NO. 2 TO AGFA/PCA 2002 SALES CONTRACT
AMENDMENT NO. 2 TO AGFA/PCA 2002 SALES CONTRACT
This Amendment (“Amendment”), dated effective as of June 28, 2002, is by and between Agfa
Corporation, a Delaware corporation, with its principal place of business at 000 Xxxxxxxxxx Xxxx,
Xxxxxxxxxx Xxxx, Xxx Xxxxxx 00000 (“Agfa”), PCA International, Inc., a North Carolina corporation
with an address at 000 Xxxxxxxx-Xxxx Xxxx Xxxx, Xxxxxxxx, Xxxxx Xxxxxxxx 00000 (“PCA”), and PCA
LLC, a Delaware limited liability company with an address at 000 Xxxxxxxx-Xxxx Xxxx Xxxx, Xxxxxxxx,
Xxxxx Xxxxxxxx 00000 (“PCA LLC”).
WHEREAS, Agfa and PCA are parties to that certain AGFA/PCA 2002 Sales Contract dated
effective February 4, 2002 (as amended, the “Agreement”);
WHEREAS, PCA has transferred, contributed, conveyed and assigned to PCA LLC substantially all
of its assets;
WHEREAS, Agfa and PCA desire to amend the Agreement as set forth herein; and
WHEREAS, PCA, pursuant to this Amendment, desires to assign the Agreement to PCA LLC, and PCA
LLC desires to accept such assignment.
NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and
agreements contained herein, and intending to be mutually bound, the parities agree as follows:
1. Agfa hereby agrees that the security interest granted to Agfa by
PCA under the Agreement shall be subordinate and junior in right of payment to all
payment obligations of PCA and its subsidiaries under any senior indebtedness for
borrowed money thereof, including, without limitation, the 11.875% Senior Notes due
2009 of PCA LLC and PCA Finance Corp. and the Credit Agreement, dated June 27,
2002, by and among PCA LLC, PCA and certain of PCA LLC’s subsidiaries, as
guarantors, Bank of America, N.A., as administrative agent, and the lenders named
therein, but excluding indebtedness of PCA and/or its subsidiaries to other product
vendors to PCA and/or its subsidiaries.
2. Assignment and Assumption
(a)
Assignment. PCA hereby grants, assigns, conveys, sets over and delivers to PCA
LLC and its successors and assigns all of its right, title and interest to, and liabilities and
obligations under, the Agreement, to have and hold unto PCA LLC and its successors and assigns
forever.
Assumption. In consideration of this assignment made herein to PCA LLC, PCA LLC
hereby agrees to assume, pay, perform and observe all covenants, agreements, liabilities
and obligations of PCA under the Agreement. (c) Notwithstanding the
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foregoing subsections 2(a) and 2(b), PCA is and shall remain jointly and severally liable for any
and all past, current and future liabilities and obligations under the Agreement, including but not
limited to payment obligations to Agfa thereunder.
(d) Consent to Assignment. Agfa hereby consents to the
assignment and assumption as set forth in this Section 2.
3. Miscellaneous.
(a) Severability. In the event that any provision of this
Amendment shall be unenforceable or invalid under any applicable law or be so held by
applicable court decision, such enforceability or invalidity shall not render this
Amendment unenforceable or invalid as a whole.
(b) Entire Agreement. This Amendment amends and
supplements the Agreement delivered prior to the date hereof, and otherwise supersedes,
with respect to their subject matter, all prior and contemporaneous agreements,
understandings, inducements or conditions between the respective parties, whether
express or implied, oral or written. This Amendment may not be altered, amended or
modified except in writing signed by authorized representatives (in Agfa’s case, a Vice
President level employee or higher) of both parties.
(c) Full Force and Effect. Except and solely to the extent that
the same has been specifically modified, amendment or supplemented herein, all of the
terms and conditions of the Agreement shall remain in full force and effect.
(d) Binding Effect. This Amendment shall be binding upon
and inure to the benefit of Agfa and Customer and their respective successors and
permitted assigns.
(e) Conflicts with the Agreement. If any term, condition or
provision of this Amendment is inconsistent or conflicts with any term, condition or
provision of the Agreement, the term, condition or provision of this Amendment shall
govern in the event of such inconsistency or conflict.
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IN WITNESS WHEREOF, the parties herein have executed this Amendment by their duly authorized
representatives effective as of the date first above written.
AGFA CORPORATION |
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By: | /s/ [Signatory] | |||
Name: | ||||
Title: | ||||
PCA INTERNATIONAL, INC. |
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By: | /s/ [Signatory] | |||
Name: | ||||
Title: | ||||
PCA LLC |
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By: | /s/ [Signatory] | |||
Name: | ||||
Title | ||||