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EXHIBIT 99.1
SECOND EXTENSION AGREEMENT
This SECOND EXTENSION AGREEMENT, dated as of August 29, 2001 (this
"AGREEMENT"), is entered into by and among CONDOR SYSTEMS, INC., a California
corporation ("BORROWER"), CEI Systems, Inc., a California corporation, as
Guarantor (collectively, "GUARANTOR"), the entities listed on the signature
pages hereto as Lenders (collectively, "LENDERS"), ANTARES CAPITAL CORPORATION,
as documentation agent (in said capacity, "DOCUMENTATION AGENT"), and BANK OF
AMERICA, N.A. (formerly known as Bank of America National Trust and Savings
Association), as Administrative Agent (in said capacity, the "AGENT").
This Agreement is made with reference to that certain Limited Waiver and
Agreement, dated as of July 31, 2001, as amended by the Extension Agreement,
dated as of August 10, 2001 (the "LIMITED WAIVER"), which was entered into in
connection with the Credit Agreement referred to therein. Capitalized terms
used herein without definition shall have the same meanings herein as set forth
in the Limited Waiver. The Limited Waiver expires pursuant to its terms no
later than August 31, 2001, and Borrower has requested that Lenders extend the
Waiver Termination Date. Lenders have agreed to extend the Waiver Termination
Date on the terms set forth below.
Borrower, Guarantor, Lenders and Agent hereby agree that, subject to the
terms hereof, clause (x) of Section IIA of the Limited Waiver is amended to
read: "(x) 5:00 p.m. E.D.T. on September 30, 2001 and".
The parties further agree that, except as expressly set forth herein, the
terms, provisions and conditions of the Credit Agreement, the Limited Waiver
and the other Credit Documents shall remain in full force and effect and in all
other respects are hereby ratified and confirmed.
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This Agreement may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all which taken
together shall constitute but one and the same instrument. This Agreement shall
become effective upon execution and delivery to Agent of the signatures of
Borrower, Guarantor, Agent and Required Lenders.
By signing below, Guarantor acknowledges and agrees that its Guaranty
Obligations with respect to the Credit Documents are (i) not released,
diminished, waived, modified, impaired or affected in any manner by this
Agreement, (ii) hereby ratified and confirmed, and (iii) not subject to any
claims, offsets, defenses or counterclaims.
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IN WITNESS WHEREOF Borrower, Guarantor, Agent and Required Lenders have
caused this Agreement to be duly executed on the date first above written.
BORROWER: CONDOR SYSTEMS, INC.
By: XX Xxxxxxx
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Name: X.X. Xxxxxxx
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Title: CFO
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GUARANTOR: CHI SYSTEMS, INC.
By: Xxxx X. Xxxxxxxxxx
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Name: Xxxx X. Xxxxxxxxxx
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Title: CEO/Pres
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AGENT: BANK OF AMERICA, N.A., formerly Bank of
America National Trust and Savings
Association, in its capacity as Agent
By:
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Name:
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Title:
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LENDERS: BANK OF AMERICA, N.A., formerly Bank of
America National Trust and Savings
Association, in its capacity as a Lender
By:
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Name:
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Title:
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IN WITNESS WHEREOF Borrower, Guarantor, Agent and Required Lenders have
caused this Agreement to be duly executed on the date first above written.
BORROWER: CONDOR SYSTEMS, INC.
By:
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Name:
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Title:
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GUARANTOR: CEI SYSTEMS, INC.
By:
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Name:
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Title:
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AGENT: BANK OF AMERICA, N.A., formerly Bank of
America National Trust and Savings Association,
in its capacity as Agent
By: /s/ XXXXXXX XXXXXXXX
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Name: Xxxxxxx Xxxxxxxx
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Title: Managing Director
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LENDERS: BANK OF AMERICA, N.A., formerly Bank of
America National Trust and Savings Association,
in its capacity as a Lender
By: /s/ XXXXXXX XXXXXXXX
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Name: Xxxxxxx Xxxxxxxx
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Title: Managing Director
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ANTARES CAPITAL CORPORATION,
in its capacity as Documentation Agent and
individually as a lender
By: /s/ Xxxxxxx X. Xxxx
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Name: Xxxxxxx X. Xxxx
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Title: Director
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BNP PARIBAS
By:
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Name:
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Title:
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By:
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Name:
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Title:
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UNION BANK OF CALIFORNIA, N.A.
By:
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Name:
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Title:
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ANTARES CAPITAL CORPORATION,
in its capacity as Documentation Agent and
individually as a lender
By:
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Name:
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Title:
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BNP PARIBAS
By:
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Name:
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Title:
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By:
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Name:
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Title:
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UNION BANK OF CALIFORNIA, N.A.
By: /s/ XXXXX X. XXXXXXX
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Name: Xxxxx X. Xxxxxxx
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Title: Vice President
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