EXHIBIT 10.21
AMENDMENT TO AGREEMENT FOR WHOLESALE FINANCING
This Amendment to Agreement for Wholesale Financing is made to that certain
Agreement for Wholesale Financing entered into by and between GTSI Corp. (f/k/a
Government Technology Services, Inc. ("Dealer") and Deutsche Financial Services
Corporation ("DFS") as of June 27, 1996, as amended ("Agreement").
FOR VALUE RECEIVED, Dealer and DFS agree to amend the Agreement as follows:
1. Dealer hereby confirms its understanding of the discretionary nature
of its credit facility established pursuant to the terms of this Agreement. The
foregoing notwithstanding, DFS hereby confirms that it has established a
facility available for Dealer's inventory purchases under the terms of the
Agreement in the amount of: (i) Thirty-five Million Dollars ($35,000,000) from
December 1st of each calendar year through August 31st of the following calendar
year, and (ii) Sixty Million Dollars ($60,000,000) from September 1st through
November 30th of each calendar year.
In addition to the foregoing, DFS has agreed to extend to Dealer a
temporary overline in the amount of Twenty-Five Million Dollars ($25,000,000)
through May 31, 2002. This overline temporarily increases the amount of Dealer's
inventory credit facility up to an aggregate maximum of Sixty Million Dollars
($60,000,000.00) and will automatically expire without further notice from DFS
on May 31, 2002.
DFS is not permitted to increase the foregoing facility amounts without the
prior written consent of a majority, by number, of the "Lenders" (as that term
is defined in the Credit Agreement), excluding DFS as a Lender for the purposes
of such calculation.
2. Each and every reference in the Agreement to the "Credit Agreement"
shall be deemed to refer to that certain Second Amended and Restated Business
Credit and Security Agreement among Dealer, DFS as agent, and certain lenders
named therein, dated as of July 28, 1997, as amended from time to time.
All other terms as they appear in the Agreement, to the extent consistent
with the foregoing, are ratified and remain unchanged and in full force and
effect.
IN WITNESS WHEREOF, Dealer and DFS have executed this Amendment to
Agreement for Wholesale Financing this 27 day of March, 2002.
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GTSI Corp.
ATTEST: By:
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Xxxxxx X. Xxxxxxx, Xx. Vice President &
Chief Financial Officer
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Xxxx Xxxxxxx, Secretary
DEUTSCHE FINANCIAL SERVICES CORPORATION
By:
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Xxxx Xxxxxxxxx, Vice President
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Lender Acknowledgment and Consent
Each of the undersigned Lenders, as such term is defined in that certain Second
Amended and Restated Business Credit and Security Agreement dated as of July 28,
1997, as amended from time, among Deutsche Financial Services Corporation, as
Agent and a Lender, the other Lenders party thereto and GTSI Corp. f/k/a
Government Technology Services, Inc., hereby acknowledges and consents to the
terms of the foregoing Amendment to Agreement for Wholesale Financing.
DEUTSCHE FINANCIAL SERVICES CORPORATION,
as Agent and a Lender
By:
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Name: Xxxx Xxxxxxxxx
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Title: Vice President
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Date:
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SUNTRUST BANK, N.A., a Lender
By:
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Name: Xxxx Xxxxx
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Title: Vice President
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Date:
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FLEET CAPITAL CORPORATION, a Lender
By:
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Name: Xxxxxx Xxxxxx
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Title: Vice President
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Date:
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