SEVENTH AMENDMENT TO THE LOAN AND SECURITY AGREEMENTLoan and Security Agreement • November 15th, 2010 • Dri Corp • Communications equipment, nec • New York
THIS SEVENTH AMENDMENT is entered into as of November 12, 2010 (this “Amendment”) among DIGITAL RECORDERS, INC., a North Carolina corporation (“Digital”), TWINVISION OF NORTH AMERICA, INC., a North Carolina corporation (“TwinVision” and, together with Digital, the “Borrowers”), DRI CORPORATION, a North Carolina corporation (“Guarantor” and, together with the Borrowers, the “Loan Parties”), and BHC INTERIM FUNDING III, L.P., a Delaware limited partnership (“Lender”), to that certain Loan and Security Agreement dated as of June 30, 2008 (as amended, modified, supplemented or restated from time to time, the “Loan Agreement”) among the Loan Parties and Lender.
AMENDMENT NO. 7 TO REVOLVING CREDIT AND SECURITY AGREEMENTRevolving Credit and Security Agreement • November 15th, 2010 • Dri Corp • Communications equipment, nec • New York
THIS AMENDMENT NO. 7 (this “Agreement”) is entered into as of November 12, 2010, by and between DIGITAL RECORDERS, INC. (“DR”), TWINVISION OF NORTH AMERICA, INC. (“TVna”, collectively with DR, each a “Borrower”, and collectively the “Borrowers”), DRI CORPORATION (“DRI”, DRI and the Borrowers, each a “Loan Party, and collectively, the “Loan Parties”), the financial institutions party hereto (collectively, the “Lenders” and individually a “Lender”) and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as agent for Lenders (PNC, in such capacity, the “Agent”).
