BRIDGE TERM LOAN AGREEMENTBridge Loan Agreement |
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CENUCO INC | HERMES ACQUISITION COMPANY I LLC | LANDER INTANGIBLES CORPORATION | LANDER CO., INC. | PRENCEN LENDING LLC. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT 10.1
BRIDGE TERM LOAN AGREEMENT
Dated as of November 15, 2005
by and among
CENUCO, INC.
HERMES ACQUISITION COMPANY I LLC
LANDER INTANGIBLES CORPORATION
and
LANDER CO., INC.
as Borrowers,
AND EACH SUBSIDIARY OF CENUCO, INC. AND EACH OTHER PERSON
LISTED AS A GUARANTOR ON THE SIGNATURE PAGES HERETO,
as Guarantors,
THE FINANCIAL INSTITUTIONS FROM TIME TO TIME PARTY HERETO,
as Lenders,
and
PRENCEN LENDING LLC,
as Agent
TABLE OF CONTENTS
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ARTICLE I DEFINITIONS; CERTAIN TERMS |
6 |
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Section 1.01 |
Definitions |
6 |
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Section 1.02 |
Terms Generally |
6 |
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Section 1.03 |
Accounting and Other Terms |
7 |
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Section 1.04 |
Time References |
7 |
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ARTICLE II THE LOANS |
7 |
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Section 2.01 |
Commitments |
7 |
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Section 2.02 |
Making the Loans |
7 |
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Section 2.03 |
Repayment of Loans; Evidence of Debt |
8 |
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Section 2.04 |
Interest |
9 |
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Section 2.05 |
Termination of Commitment; Prepayment of Loans |
9 |
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Section 2.06 |
Fees |
10 |
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Section 2.07 |
Intentionally Omitted |
10 |
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Section 2.08 |
Taxes |
10 |
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Section 2.09 |
LIBOR Not Determinable; Illegality |
12 |
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Section 2.10 |
Indemnity |
13 |
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Section 2.11 |
Intentionally Omitted |
13 |
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ARTICLE III FEES, PAYMENTS AND OTHER COMPENSATION |
13 |
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Section 3.01 |
Audit and Collateral Monitoring Fees |
13 |
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Section 3.02 |
Payments; Computations and Statements |
13 |
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Section 3.03 |
Sharing of Payments, Etc |
14 |
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Section 3.04 |
Apportionment of Payments |
15 |
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Section 3.05 |
Increased Costs and Reduced Return |
15 |
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Section 3.06 |
Joint and Several Liability of the Borrowers |
16 |
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ARTICLE IV CONDITIONS TO LOANS |
17 |
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Section 4.01 |
Conditions Precedent to Effectiveness |
17 |
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ARTICLE V REPRESENTATIONS AND WARRANTIES |
21 |
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Section 5.01 |
Organization, Good Standing, Etc |
21 |
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Section 5.02 |
Authorization, Etc |
21 |
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Section 5.03 |
Governmental Approvals |
22 |
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Section 5.04 |
Enforceability of Loan Documents |
22 |
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Section 5.05 |
Capitalization; Subsidiaries |
22 |
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Section 5.06 |
Litigation; Commercial Tort Claims |
22 |
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Section 5.07 |
Financial Condition |
23 |
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Section 5.08 |
Compliance with Law, Etc |
23 |
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Section 5.09 |
ERISA |
23 |
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Section 5.10 |
Taxes, Etc |
24 |
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Section 5.11 |
Regulations T, U and X |
24 |
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Section 5.12 |
Nature of Business |
24 |
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Section 5.13 |
Adverse Agreements, Etc |
24 |
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Section 5.14 |
Permits, Etc |
24 |
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Section 5.15 |
Properties |
24 |
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Section 5.16 |
Full Disclosure |
25 |
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Section 5.17 |
Operating Lease Obligations |
25 |
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Section 5.18 |
Environmental Matters |
25 |
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Section 5.19 |
Insurance |
26 |
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Section 5.20 |
Use of Proceeds |
26 |
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Section 5.21 |
Solvency |
26 |
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Section 5.22 |
Location of Bank Accounts |
26 |
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Section 5.23 |
Intellectual Property |
26 |
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Section 5.24 |
Material Contracts |
27 |
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Section 5.25 |
Holding Company and Investment Company Acts |
27 |
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Section 5.26 |
Employee and Labor Matters |
27 |
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Section 5.27 |
Customers and Suppliers |
27 |
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Section 5.28 |
No Bankruptcy Filing |
28 |
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Section 5.29 |
Separate Existence |
28 |
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Section 5.30 |
Name; Jurisdiction of Organization; Organizational ID Number; Chief Place of Business; Chief Executive Office; FEIN |
28 |
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Section 5.31 |
Tradenames |
28 |
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Section 5.32 |
Locations of Collateral |
28 |
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Section 5.33 |
Security Interests |
29 |
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Section 5.34 |
Acquisition Agreement |
29 |
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Section 5.35 |
Fees |
29 |
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Section 5.36 |
Consummation of Acquisition |
30 |
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Section 5.37 |
Schedules |
30 |
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ARTICLE VI AFFIRMATIVE COVENANTS OF THE LOAN PARTIES |
30 |
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Section 6.01 |
Reporting Requirements |
30 |
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Section 6.02 |
Additional Guaranties and Collateral Security |
33 |
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Section 6.03 |
Compliance with Laws, Etc |
34 |
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Section 6.04 |
Preservation of Existence, Etc |
34 |
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Section 6.05 |
Keeping of Records and Books of Account |
34 |
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Section 6.06 |
Inspection Rights |
34 |
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Section 6.07 |
Maintenance of Properties, Etc |
34 |
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Section 6.08 |
Maintenance of Insurance |
35 |
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Section 6.09 |
Obtaining of Permits, Etc |
35 |
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Section 6.10 |
Environmental |
35 |
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Section 6.11 |
Further Assurances |
36 |
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Section 6.12 |
Change in Collateral; Collateral Records |
36 |
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Section 6.13 |
Landlord Waivers; Collateral Access Agreements |
36 |
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Section 6.14 |
Subordination |
37 |
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Section 6.15 |
After Acquired Real Property |
37 |
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Section 6.16 |
Fiscal Year |
37 |
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ARTICLE VII NEGATIVE COVENANTS OF THE LOAN PARTIES |
37 |
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Section 7.01 |
Liens, Etc |
38 |
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Section 7.02 |
Indebtedness |
38 |
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Section 7.03 |
Fundamental Changes; Dispositions |
38 |
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Section 7.04 |
Change in Nature of Business |
39 |
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Section 7.05 |
Loans, Advances, Investments, Etc |
39 |
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Section 7.06 |
Lease Obligations |
39 |
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Section 7.07 |
Capital Expenditures |
39 |
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Section 7.08 |
Restricted Payments |
39 |
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Section 7.09 |
Federal Reserve Regulations |
40 |
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Section 7.10 |
Transactions with Affiliates |
40 |
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Section 7.11 |
Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries |
40 |
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Section 7.12 |
Limitation on Issuance of Capital Stock |
41 |
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Section 7.13 |
Modifications of Indebtedness, Organizational Documents and Certain Other Agreements, Etc |
41 |
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Section 7.14 |
Investment Company Act of 1940 |
41 |
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Section 7.15 |
Intentionally Omitted |
42 |
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Section 7.16 |
Properties |
42 |
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Section 7.17 |
ERISA |
42 |
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Section 7.18 |
Environmental |
42 |
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Section 7.19 |
Certain Agreements |
42 |
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Section 7.20 |
Deposit Accounts |
42 |
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Section 7.21 |
Financial Covenants |
42 |
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ARTICLE VIII EVENTS OF DEFAULT |
43 |
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Section 8.01 |
Events of Default |
43 |
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ARTICLE IX AGENT |
47 |
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Section 9.01 |
Appointment |
47 |
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Section 9.02 |
Nature of Duties |
47 |
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Section 9.03 |
Rights, Exculpation, Etc |
48 |
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Section 9.04 |
Reliance |
49 |
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Section 9.05 |
Indemnification |
49 |
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Section 9.06 |
Agent Individually |
49 |
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Section 9.07 |
Successor Agent |
49 |
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Section 9.08 |
Collateral Matters |
50 |
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Section 9.09 |
Agency for Perfection |
51 |
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ARTICLE X GUARANTY |
51 |
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Section 10.01 |
Guaranty |
51 |
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Section 10.02 |
Guaranty Absolute |
52 |
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Section 10.03 |
Waiver |
53 |
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Section 10.04 |
Continuing Guaranty; Assignments |
53 |
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Section 10.05 |
Subrogation |
53 |
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