AMENDMENT TO CREDIT AGREEMENT
THIS AMENDMENT TO CREDIT AGREEMENT, made this 29th day of May, 1997, by and
between THE SOURCE COMPANY (the "Borrower") and WACHOVIA BANK OF NORTH CAROLINA,
N.A. (the "Bank");
WITNESSETH:
WHEREAS the Borrower and the Bank entered into a Credit Agreement dated the
Fourteenth day of November, 1996; and
WHEREAS the Borrower and the Bank now mutually desire to effect certain
amendments to the Credit Agreement;
NOW, THEREFORE in consideration of the promises and the mutual covenants herein
and in the Credit Agreement contained, the parties agree as follows:
I. Sub-section B of the Definition of "Tangible Net Worth" as shown on Page 12
of the Credit Agreement is hereby amended and restated to read as follows:
(B) All assets which would be treated as intangibles
under generally accepted accounting principles,
including without limitation goodwill (whether
representing the excess of cost over book value of
assets acquired, or otherwise, with the exception of
goodwill generated from any transaction occurring
after November 14, 1996 which is approved in writing
by the Bank), trademarks, tradenames, copyrights,
patents and technologies, and unamortized debt
discount and expenses.
Except as herein amended, the terms and provisions of the Credit Agreement shall
be and remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to the Credit
Agreement to be executed as of the year and the day first above written.
CONSENTED TO AND AGREED:
THE SOURCE COMPANY
By: /s/ S. Xxxxxx Xxxxxx
Chairman and Chief Executive Officer
ATTEST:
[CORPORATE SEAL] By: /s/ W. Xxxxx Xxxxxxx
Assistant Secretary
WACHOVIA BANK, N.A.
By: /s/ Xxxx Xxxxxxx
Vice President