CREDIT FACILITY AGREEMENTCredit Facility Agreement • July 30th, 2008 • Iec Electronics Corp • Printed circuit boards • New York
The Applicable Unused Fee shall be fixed at Level III on the date of this Agreement. Effective on the first annual anniversary of the date of this Agreement, the Level applicable to Unused Fees will be established based upon the Debt to EBITDARS ratio as of the last day of the measurement period ending on March 31, 2009. Thereafter, changes, if any, in the Level applicable to Unused Fees will be effective on the tenth (10th) day following each date on which the Borrower’s Quarterly Covenant Compliance Sheet (“QCC Sheet”) is required to be delivered to the Lender pursuant to Section 11.4, based upon the Debt to EBITDARS Ratio shown therein. In the event that any QCC Sheet is not delivered by the date required, pricing will revert to Level I until the tenth (10th) day following the date of delivery of the delayed QCC Sheet, on which tenth day pricing will be adjusted to the applicable level shown by the QCC Sheet.
AGREEMENT AND PLAN OF MERGER BY AND AMONG IEC Electronics Corp., VUT Merger Corp. and Val-U-Tech Corp. Dated as of May 23, 2008Agreement and Plan of Merger • July 30th, 2008 • Iec Electronics Corp • Printed circuit boards • New York
This AGREEMENT AND PLAN OF MERGER, dated as of May 23, 2008 (this “Agreement”), is entered into by and among IEC Electronics Corp., a corporation organized under the laws of the State of Delaware (“Parent”), VUT Merger Corp., a corporation organized under the laws of the State of New York (“Merger Sub”), Val-U-Tech Corp., a corporation organized under the laws of the State of New York (“Company”) and Kathleen Brudek, Michael Brudek and Nicholas Vaseliv (each, a “Company Shareholder” and, together, the “Company Shareholders”) (“Parent,” “Merger Sub”, “Company” and the “Company Shareholders” individually hereinafter referred to as “Party” and collectively hereinafter referred to as the “Parties”);
