EXHIBIT 10.1
AMENDMENT
This Amendment shall be effective as of April 1, 2001 and amends that certain
Monitoring Receivable Financing Agreement (the "Financing Agreement") by and
among SAI Funding Corporation, a Delaware corporation ("Funding"), XxXxxx,
Xxxxx Acceptance Corp., a Delaware corporation (the "Agent"), and Security
Associates International, Inc., a Delaware corporation, as Collection Agent
("SAI", and, in its capacity as collection agent, the "Collection Agent") dated
January 16, 2001.
1. The definition of "Minimum Monthly Revenue" contained in Section 1.01 of
the Financing Agreement is hereby stricken in its entirety and replaced
with the following:
"Minimum Monthly Revenue" means the amounts listed below during the
stated time periods:
April 1, 2001 through March 31, 2002 $1,700,000
April 1, 2002 through June 30, 2002 $1,725,000
July 1, 2002 through September 30, 2002 $1,750,000
October 1, 2002 through December 31, 2002 $1,775,000
January 1, 2003 and thereafter $1,800,000
2. Section 5.01 (m) of the Financing Agreement is hereby amended by adding
the following at the end thereof:
Funding shall, on the first Business Day of each month, make a request
under Section 2.02(b) of the Purchase Agreement to purchase all of the
Receivables originated by the Sellers during such month and shall purchase
all such Receivables under the Purchase Agreement by no later than the last
Business Day on such month.
3. Except as amended hereby, the remaining provisions of the Financing
Agreement remain in full force and effect.
FUNDING: SAI FUNDING CORPORATION
By:
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Title:
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COLLECTION AGENT: SECURITY ASSOCIATES INTERNATIONAL, INC.
By:
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Title:
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AGENT: XXXXXX, XXXXX ACCEPTANCE CORP.
By: /s/ XXXXXX X. XXXXXX
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Title: Chairman
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