AMENDMENT TO AGREEMENT FOR WHOLESALE FINANCING AND BUSINESS FINANCING AGREEMENT
AMENDMENT
TO AGREEMENT FOR WHOLESALE FINANCING
AND
BUSINESS FINANCING AGREEMENT
This
Amendment is made to (i) that certain Agreement for Wholesale Financing dated
August 31, 2000, between ePlus Technology, inc. ("Dealer") and
GE Commercial Distribution Finance Corporation ("CDF"), as
amended ("AWF) and (ii) that certain Business Financing Agreement between Dealer
and CDF dated August 31, 2000, as amended ("BFA").
FOR
VALUE
RECEIVED, CDF and Dealer agree as follows:
1. Section
2.1 of the BFA is
hereby amended in its entirety to read as follows:
"2.1
Accounts Receivable Facility. Subject to the terms of this
Agreement, CDF agrees to provide to Dealer an Accounts Receivable Facility
of
Thirty Million Dollars ($30,000,000.00); provided, however,
that: (i) at no time during the Temporary Increase Period (as defined
below) will the principal amount outstanding under the Accounts Receivable
Facility and Dealer's inventory floorplan credit facility with CDF exceed,
in
the aggregate, One Hundred Million Dollars ($100,000,000.00),
and (ii) at no time other than from June 19, 2007 through August 15, 2007
(“Temporary Increase Period”) will the principal amount outstanding under the
Accounts Receivable Facility and Dealer’s inventory floorplan credit facility
with CDF exceed, in the aggregate, Eighty-Five Million Dollars
($85,000,000.00). CDF's decision to advance funds will not
be binding until the funds are actually advanced."
In
addition, subject to the terms of the AWF, CDF agrees to provide to Dealer
an
inventory floorplan credit facility of: (a) One Hundred
Million Dollars ($100,000,000.00) during the Temporary Increase Period,
and (b) at all times other than the Temporary Increase Period,
Eighty-Five Million Dollars ($85,000,000.00); provided,
however, that (i) at no time during the Temporary Increase Period will the
principal amount outstanding under the Accounts Receivable Facility and Dealer's
inventory floorplan credit facility with CDF exceed, in the aggregate,
One Hundred Million Dollars ($100,000,000.00), and (ii) at no
time other than during the Temporary Increase Period will the principal amount
outstanding under the Accounts Receivable Facility and Dealer’s inventory
floorplan credit facility with CDF exceed, in the aggregate, Eighty-Five
Million Dollars ($85,000,000.00). CDF's decision to advance
funds will not be binding until the funds are actually advanced.
Dealer
waives notice of CDF's acceptance of this Amendment.
All
other
terms and provisions of the AWF and BFA, to the extent not inconsistent with
the
foregoing, are ratified and remain unchanged and in full force and
effect.
IN
WITNESS WHEREOF, Dealer and CDF have executed this Amendment on this 20th day of
June,
2007.
| EPLUS TECHNOLOGY, INC. | |
| By: /s/ Xxxxxx X. Xxxxxxxxx | |
| Xxxxxx X. Xxxxxxxxx, Chief Financial Officer |
|
GE
COMMERCIAL DISTRIBUTION FINANCE
CORPORATION
|
|
| By: /s/ Xxxxx Xxxxxxx | |
| Xxxxx Xxxxxxx, Vice President of Operations |
