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SUPPLEMENTAL TERM LOAN ASSUMPTION AGREEMENT

Assumption Agreement

SUPPLEMENTAL TERM LOAN ASSUMPTION AGREEMENT | Document Parties: CHG HEALTHCARE SERVICES, INC. | COMPHEALTH GROUP, INC., | COMERICA BANK, |  JPMORGAN CHASE BANK, N.A You are currently viewing:
This Assumption Agreement involves

CHG HEALTHCARE SERVICES, INC. | COMPHEALTH GROUP, INC., | COMERICA BANK, | JPMORGAN CHASE BANK, N.A

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Title: SUPPLEMENTAL TERM LOAN ASSUMPTION AGREEMENT
Governing Law: New York     Date: 3/27/2006

SUPPLEMENTAL TERM LOAN ASSUMPTION AGREEMENT, Parties: chg healthcare services  inc. , comphealth group  inc.  , comerica bank  ,  jpmorgan chase bank  n.a
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Exhibit 10.13

EXECUTION COPY

SUPPLEMENTAL TERM LOAN ASSUMPTION AGREEMENT dated as of November 23, 2004 (this “ Agreement ”), among COMPHEALTH GROUP, INC., a Delaware corporation (the “ Company ”), CHG MEDICAL STAFFING, INC., a Delaware corporation (the “ Term Borrower ”), COMERICA BANK (the “ Supplemental Term Lender ”) and JPMORGAN CHASE BANK, N.A. (formerly known as JPMorgan Chase Bank), as Administrative Agent.

Reference is made to the Credit Agreement dated as of January 29, 2004, among the Company, the Borrowers, the Lenders party thereto and the Administrative Agent, as amended by Amendment No. 1, Consent, Waiver and Agreement dated as of October 29, 2004 (as so amended, the “ Credit Agreement ”).

Pursuant to Section 2.19 of the Credit Agreement, the Term Borrower has requested that the Supplemental Term Lender provide the Term Borrower with a Supplemental Term Commitment. The Supplemental Term Lender is willing to provide the Term Borrower with a Supplemental Term Commitment, on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows:

SECTION 1. Defined Terms; Terms Generally. Capitalized terms used and not defined herein shall have the meanings assigned to such terms in the Credit Agreement. The rules of construction set forth in Section 1.03 of the Credit Agreement shall apply equally to this Agreement. This Agreement shall be a “Supplemental Term Loan Assumption Agreement” for all purposes of the Credit Agreement and the other Loan Documents.

SECTION 2. Supplemental Term Commitment; Supplemental Term Loan. (a) Subject to the terms and conditions set forth herein, the Supplemental Term Lender agrees to make a Supplemental Term Loan to the Term Borrower on the Supplemental Term Loan Closing Date (as defined below) in a principal amount not to exceed $3,700,000. Amounts repaid in respect of the Supplemental Term Loan made hereunder may not be reborrowed.

(b) Except as provided herein, the terms of the Supplemental Term Loan made hereunder shall be identical to those of the Term Loans outstanding immediately prior to the effectiveness of this Agreement (the “ Existing Term Loans ”). Without limiting the generality of the foregoing, the Applicable Rate with respect to the Supplemental Term Loan made hereunder shall be as set forth in the Credit Agreement.


(c) The Term Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of the Supplemental Term Lender the then unpaid principal amount of the Supplemental Term Loan made hereunder as follows:

 

 

 

 

 

Date

  

Amount

March 31, 2005

  

$

162,539.93

June 30, 2005

  

 

162,539.93

September 30, 2005

  

 

162,539.93

December 31, 2005

  

 

162,539.93

March 31, 2006

  

 

208,346.65

June 30, 2006

  

 

208,346.65

September 30, 2006

  

 

208,346.65

December 31, 2006

  

 

208,346.65

March 31, 2007

  

 

208,346.65

June 30, 2007

  

 

208,346.65

September 30, 2007

  

 

208,346.65

December 31, 2007

  

 

208,346.65

March 31, 2008

  

 

345,766.77

June 30, 2008

  

 

345,766.77

September 30, 2008

  

 

345,766.77

Term Maturity Date

  

 

345,766.77

(d) The funding of the Supplemental Term Loan to be made hereunder shall be made in the manner contemplated by Section 2.05 of the Credit Agreement. Unless previously terminated, the Supplemental Term Commitment hereunder shall terminate at 5:00 p.m., New York City time, on November 24, 2004.

(e) It is the intent of the parties that the Supplemental Term Loan made hereunder be included in each Borrowing of the Existing Term Loans on a pro rata basis. In furtherance of the foregoing, each of the parties hereto agrees that a portion of the Supplemental Term Loan made hereunder shall be allocated to each outstanding Eurodollar Borrowing of Existing Term Loans on a pro rata basis and that the interest rate applicable to such Supplemental Term Loan for the remainder of the existing


 
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