EXHIBIT 4.1(k)
FIRST NOTE MODIFICATION AGREEMENT
THIS AGREEMENT, made as of May 14, 2003 by and between GLOBAL PAYMENT
TECHNOLOGIES, INC., a Delaware corporation (the "Borrower"), and JPMORGAN CHASE
BANK, a New York banking corporation (the "Lender").
RECITALS
A. Pursuant to an Amended and Restated Credit Agreement dated as of
September 10, 2002 by and between the Borrower and the Lender (the "Credit
Agreement"), the Borrower executed and delivered to the Lender an Amended and
Restated Revolving Credit Note dated September 10, 2002 (the "Revolving Credit
Note").
B. The Borrower and the Lender desire to amend the Revolving Credit Note
as set forth herein.
NOW THEREFORE, the Borrower and the Lender agree as follows:
1. The principal amount of "$3,500,000" in the heading of the Revolving
Credit Note is hereby deleted and the amount of "$2,000,000" is substituted in
place thereof.
2. The reference to the principal amount of "THREE MILLION FIVE HUNDRED
THOUSAND DOLLARS ($3,500,000)" contained in the first paragraph of the Revolving
Credit Note is hereby deleted and the phrase "TWO MILLION DOLLARS ($2,000,000)"
is substituted in place thereof.
3. Except as expressly amended hereby, the Revolving Credit Note shall
remain in full force and effect in accordance with the terms thereof. The
amendment herein contained is limited specifically to the matter set forth above
and does not constitute directly or by implication an amendment or waiver of any
other provision of the Revolving Credit Note.
4. This Agreement may be executed in two or more counterparts each of
which shall be deemed an original and all of which taken together shall
constitute one and the same agreement.
[THE NEXT PAGE IS THE SIGNATURE PAGE]
IN WITNESS WHEREOF, the parties hereto have executed this agreement as of
the day and year first above written.
JPMORGAN CHASE BANK
By:_____________________________
Name:
Title:
GLOBAL PAYMENT TECHNOLOGIES, INC.
By:_____________________________
Name:
Title:
By:_____________________________
Name:
Title:
