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BRIDGE TERM LOAN AGREEMENT

Bridge Loan Agreement

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This Bridge Loan Agreement involves

CENUCO INC | HERMES ACQUISITION COMPANY I LLC | LANDER INTANGIBLES CORPORATION | LANDER CO., INC. | PRENCEN LENDING LLC

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Title: BRIDGE TERM LOAN AGREEMENT
Governing Law: New York     Date: 11/21/2005
Industry: ALARMS     Law Firm: Wolf, Block, Schorr and Solis-Cohen LLP; Schulte Roth & Zabel LLP    

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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

 

 

 

 

Page

 

 

 

 

ARTICLE I DEFINITIONS; CERTAIN TERMS

6

 

Section 1.01

Definitions

6

 

Section 1.02

Terms Generally

6

 

Section 1.03

Accounting and Other Terms

7

 

Section 1.04

Time References

7

 

 

 

 

ARTICLE II THE LOANS

7

 

Section 2.01

Commitments

7

 

Section 2.02

Making the Loans

7

 

Section 2.03

Repayment of Loans; Evidence of Debt

8

 

Section 2.04

Interest

9

 

Section 2.05

Termination of Commitment; Prepayment of Loans

9

 

Section 2.06

Fees

10

 

Section 2.07

Intentionally Omitted

10

 

Section 2.08

Taxes

10

 

Section 2.09

LIBOR Not Determinable; Illegality

12

 

Section 2.10

Indemnity

13

 

Section 2.11

Intentionally Omitted

13

 

 

 

 

ARTICLE III FEES, PAYMENTS AND OTHER COMPENSATION

13

 

Section 3.01

Audit and Collateral Monitoring Fees

13

 

Section 3.02

Payments; Computations and Statements

13

 

Section 3.03

Sharing of Payments, Etc

14

 

Section 3.04

Apportionment of Payments

15

 

Section 3.05

Increased Costs and Reduced Return

15

 

Section 3.06

Joint and Several Liability of the Borrowers

16

 

 

 

 

ARTICLE IV CONDITIONS TO LOANS

17

 

Section 4.01

Conditions Precedent to Effectiveness

17

 

 

 

 

ARTICLE V REPRESENTATIONS AND WARRANTIES

21

 

Section 5.01

Organization, Good Standing, Etc

21

 

Section 5.02

Authorization, Etc

21

 

Section 5.03

Governmental Approvals

22

 

Section 5.04

Enforceability of Loan Documents

22

 

Section 5.05

Capitalization; Subsidiaries

22

 

Section 5.06

Litigation; Commercial Tort Claims

22

 

Section 5.07

Financial Condition

23

 

Section 5.08

Compliance with Law, Etc

23

 

Section 5.09

ERISA

23

 

Section 5.10

Taxes, Etc

24

 

Section 5.11

Regulations T, U and X

24

 

Section 5.12

Nature of Business

24

 

 

- i -

 


 

 

 

Section 5.13

Adverse Agreements, Etc

24

 

Section 5.14

Permits, Etc

24

 

Section 5.15

Properties

24

 

Section 5.16

Full Disclosure

25

 

Section 5.17

Operating Lease Obligations

25

 

Section 5.18

Environmental Matters

25

 

Section 5.19

Insurance

26

 

Section 5.20

Use of Proceeds

26

 

Section 5.21

Solvency

26

 

Section 5.22

Location of Bank Accounts

26

 

Section 5.23

Intellectual Property

26

 

Section 5.24

Material Contracts

27

 

Section 5.25

Holding Company and Investment Company Acts

27

 

Section 5.26

Employee and Labor Matters

27

 

Section 5.27

Customers and Suppliers

27

 

Section 5.28

No Bankruptcy Filing

28

 

Section 5.29

Separate Existence

28

 

Section 5.30

Name; Jurisdiction of Organization; Organizational ID Number; Chief Place of Business; Chief Executive Office; FEIN

28

 

Section 5.31

Tradenames

28

 

Section 5.32

Locations of Collateral

28

 

Section 5.33

Security Interests

29

 

Section 5.34

Acquisition Agreement

29

 

Section 5.35

Fees

29

 

Section 5.36

Consummation of Acquisition

30

 

Section 5.37

Schedules

30

 

 

 

 

ARTICLE VI AFFIRMATIVE COVENANTS OF THE LOAN PARTIES

30

 

Section 6.01

Reporting Requirements

30

 

Section 6.02

Additional Guaranties and Collateral Security

33

 

Section 6.03

Compliance with Laws, Etc

34

 

Section 6.04

Preservation of Existence, Etc

34

 

Section 6.05

Keeping of Records and Books of Account

34

 

Section 6.06

Inspection Rights

34

 

Section 6.07

Maintenance of Properties, Etc

34

 

Section 6.08

Maintenance of Insurance

35

 

Section 6.09

Obtaining of Permits, Etc

35

 

Section 6.10

Environmental

35

 

Section 6.11

Further Assurances

36

 

Section 6.12

Change in Collateral; Collateral Records

36

 

Section 6.13

Landlord Waivers; Collateral Access Agreements

36

 

Section 6.14

Subordination

37

 

Section 6.15

After Acquired Real Property

37

 

Section 6.16

Fiscal Year

37

 

 

 

 

 

 

- ii -

 


 

 

ARTICLE VII NEGATIVE COVENANTS OF THE LOAN PARTIES

37

 

Section 7.01

Liens, Etc

38

 

Section 7.02

Indebtedness

38

 

Section 7.03

Fundamental Changes; Dispositions

38

 

Section 7.04

Change in Nature of Business

39

 

Section 7.05

Loans, Advances, Investments, Etc

39

 

Section 7.06

Lease Obligations

39

 

Section 7.07

Capital Expenditures

39

 

Section 7.08

Restricted Payments

39

 

Section 7.09

Federal Reserve Regulations

40

 

Section 7.10

Transactions with Affiliates

40

 

Section 7.11

Limitations on Dividends and Other Payment Restrictions Affecting Subsidiaries

40

 

Section 7.12

Limitation on Issuance of Capital Stock

41

 

Section 7.13

Modifications of Indebtedness, Organizational Documents and Certain Other Agreements, Etc

41

 

Section 7.14

Investment Company Act of 1940

41

 

Section 7.15

Intentionally Omitted

42

 

Section 7.16

Properties

42

 

Section 7.17

ERISA

42

 

Section 7.18

Environmental

42

 

Section 7.19

Certain Agreements

42

 

Section 7.20

Deposit Accounts

42

 

Section 7.21

Financial Covenants

42

 

 

 

 

ARTICLE VIII EVENTS OF DEFAULT

43

 

Section 8.01

Events of Default

43

 

 

 

 

ARTICLE IX AGENT

47

 

Section 9.01

Appointment

47

 

Section 9.02

Nature of Duties

47

 

Section 9.03

Rights, Exculpation, Etc

48

 

Section 9.04

Reliance

49

 

Section 9.05

Indemnification

49

 

Section 9.06

Agent Individually

49

 

Section 9.07

Successor Agent

49

 

Section 9.08

Collateral Matters

50

 

Section 9.09

Agency for Perfection

51

 

 

 

 

ARTICLE X GUARANTY

51

 

Section 10.01

Guaranty

51

 

Section 10.02

Guaranty Absolute

52

 

Section 10.03

Waiver

53

 

Section 10.04

Continuing Guaranty; Assignments

53

 

Section 10.05

Subrogation

53