FOURTH AMENDMENT TO
CREDIT AGREEMENT
This Fourth Amendment is made as of June 24, 2002 among SYNERGX SYSTEMS,
INC. (f/k/a Firetector Inc.), a Delaware corporation (the "Company"); GENERAL
SOUND (TEXAS) COMP ANY , a Delaware corporation ("General"); XXXXX SYSTEMS INC.,
a New York corporation ("Xxxxx"); and PYROTECH SERVICE INC., a New York
corporation ("Pyrotech" and collectively with the Company, General and Xxxxx,
the "Borrowers") as co-borrowers and CITIZENS BUSINESS CREDIT COMPANY , a
division of Citizens Leasing Corporation, a Rhode Island corporation
(hereinafter referred to as "Citizens") as lender.
WHEREAS, the Borrowers and Citizens are parties to a Credit Agreement dated
as June 28, 1998 (as amended, the "Credit Agreement");
WHEREAS, Firetector, Inc. changed its name to Synergx Systems, Inc. as of
May 24, 2002;
WHEREAS, Firetector's former subsidiary, Amco Maintenance Corporation ("
Amco"), has been dissolved with its business operations transferred to Systems
Service Technology Corporation;
NOW THEREFORE, the parties agree as follows:
1. All reference to "Firetector, Inc." or the "Company" in the Credit
Agreement, Revolving Credit Note, Security Agreement, Pledge Agreement, Guaranty
(all of which are dated June 23, 1998) and related documents shall mean Synergx
Systems, Inc.
2. Citizens consents to the dissolution of Amco and waives any violation of
the Credit Agreement arising from such dissolution.
3. Except as set forth in this Fourth Amendment, the Third Amendment dated
as of May 14, 2002, the Second Amendment dated as of October 1, 2001 and the
First Amendment dated as of October 10, 2000, the Credit Agreement remains in
full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment under
seal as of the date first above written.
BORROWERS:
SYNERGX SYSTEMS, INC.
(f/k/a Firetectr
By:
Xxxx X. Xxxxxxxx . Chief Financial Officer
GENERAL SOUND (TEXAS) COMPANY
By:
Xxxx X. Xxxxxxxx . Chief Financial Officer
XXXXX SYSTEMS INC.
By:
Xxxx X. Xxxxxxxx . Chief Financial Officer
PYROTECH SERVICE INC.
By:
Xxxx X. Xxxxxxxx . Chief Financial Officer
LENDER:
CITIZENS BUSINESS CREDIT COMPANY
By:
Xxxxxxx X. X'Xxxxx
Senior Vice President
Systems Service Technology Inc., a subsidiary of the Company, consents to the
foregoing amendment and acknowledges the continuing validity of its Guaranty
dated June 23, 1998.
Systems Service Technology Inc.
By:
Xxxx X. Xxxxxxxx . Chief Financial Officer