SECOND AMENDED AND RESTATED REVOLVING CREDIT LOAN AND SECURITY AGREEMENT STEEL CITY CAPITAL FUNDING, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION (AS LENDER AND AS AGENT) WITH INTELLIGROUP, INC. AND EMPOWER, INC. (BORROWERS) May 23, 2006Security Agreement • May 30th, 2006 • Intelligroup Inc • Services-computer integrated systems design • New York
Second Amended and Restated Revolving Credit Loan and Security Agreement (this “Agreement”) dated as of May 23, 2006 among INTELLIGROUP, INC., a corporation organized under the laws of the State of New Jersey (“Intelligroup”) and EMPOWER, INC., a corporation organized under the laws of the State of Michigan (“Empower”) (Empower and Intelligroup each a “Borrower” and, collectively, “Borrowers”), the financial institutions which are now or which hereafter become a party hereto (collectively, the “Lenders” and individually a “Lender”) and STEEL CITY CAPITAL FUNDING, a division of PNC BANK, NATIONAL ASSOCIATION (“PNC”), as agent for Lenders (PNC, in such capacity, the “Agent”).
SECURED REVOLVING NOTE PNC BANK $15,000,000.00 May 23, 2006Intelligroup Inc • May 30th, 2006 • Services-computer integrated systems design • New Jersey
FOR VALUE RECEIVED, INTELLIGROUP, INC. and EMPOWER, INC. (collectively, jointly and severally the “Borrower”), with an address at 499 Thornall Street, Edison, New Jersey 08837 promise to pay on the earlier of demand made in accordance with the terms of the Loan Documents (as defined herein) or May 22, 2008, to the order of STEEL CITY CAPITAL FUNDING, a division of PNC BANK, NATIONAL ASSOCIATION (the “Bank”), in lawful money of the United States of America in immediately available funds at the Payment Office of PNC Bank, National Association as the Agent for the Lenders (the “Agent”) at its offices located as Two Tower Center Boulevard, East Brunswick, New Jersey 08816, or at such other location as Bank may designate from time to time, the principal sum of FIFTEEN MILLION ($15,000,000.00) DOLLARS (the “Facility”) or such lesser amount as may be advanced to or for the benefit of Borrower hereunder, together with interest accruing on the outstanding principal balance from the date hereof,
