Exhibit 10(a)
FIRST AMENDMENT TO
CONSTRUCTION AND TERM LOAN AGREEMENT
THIS FIRST
AMENDMENT TO CONSTRUCTION AND TERM LOAN AGREEMENT
(this " Amendment ") is made
and entered into as of August 6, 2008, by and between CITRUS
CORP ., a Delaware corporation (the “ Borrower
”), PIPELINE FUNDING COMPANY, LLC , a Delaware limited
liability company, and the additional lenders party to the Loan
Agreement (as defined below) from time to time (collectively, the
“ Lenders ”), and PIPELINE FUNDING COMPANY,
LLC , a Delaware limited liability company, as Administrative
Agent (as defined in the Loan Agreement) (the Borrower, the Lenders
and the Agent are sometimes referred as a “ Party
” and collectively as the “ Parties
”).
W
I T N
E S S E T H
:
WHEREAS , the Parties entered into that certain
Construction and Term Loan Agreement (the “ Loan
Agreement ”), dated as of February 5, 2008;
WHEREAS , Borrower requested that its ability to draw
down on the Loan be accelerated and the Parties have agreed that
the Funding Date shall be October 1, 2008, subject to the terms and
conditions contained in the Loan Agreement; and
WHEREAS , in connection with such request, the Parties
have agreed to certain modifications and amendments to the Loan
Agreement, as more particularly set forth herein.
A
G R E
E M E N T
NOW,
THEREFORE , for and in
consideration of the matters described in the foregoing recitals
and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties hereby
agree as follows:
1.
Capitalized Terms . All capitalized terms used
but not defined herein shall have the meanings ascribed thereto in
the Loan Agreement. The term “Agreement” as
used in the Loan Agreement includes this Amendment.
2.
Effect on Existing Loan Agreement .
Except as specifically set forth herein, all other
terms and conditions of the Loan Agreement and the other Loan
Documents shall remain unchanged and in full force and
effect. Borrower hereby represents and warrants that, as
of the date hereof, Borrower neither has nor claims any causes of
action, defenses, offsets or counterclaims to or with respect to
any obligations or indebtedness under the Loan Agreement, as
amended hereby, or under any of the other Loan Documents, as the
case may be.
3.
Amendments to Loan Agreement . The Loan
Agreement is hereby modified as follows:
(a) The
following definition contained in Section 1.01 of the Loan
Agreement is hereby amended and restated in its entirety to read as
follows:
““ Funding Date ” means
October 1, 2008.”
(b) The
defined term “Termination Date” set forth in Section
1.01 of the Loan Agreement is deleted in its entirety.
(c) Section
2.01(a) of the Loan Agreement is deleted in its entirety and the
following inserted in lieu thereof:
“
Construction Loan Availability . Each Lender
severally agrees, on the terms and conditions hereinafter set
forth, to make a Construction Loan to the Borrower on the Funding
Date, so long as the aggregate outstanding principal amount of the
Construction Loan owing to such Lender does not exceed the amount
set forth opposite such Lender’s name on the signature pages
hereof or if such Lender has entered into any Assignment and
Acceptance, then as set forth for such Lender in the Register
maintained by the Administrative Agent pursuant to
Section 8.06(d) (such Lender’s “ Commitment
”). Monies borrowed under this Section 2.01,
once repaid, may not be reborrowed.”
(d) The
second sentence of Section 2.01(b) of the Loan Agreement is deleted
in its entirety and the following inserted in lieu
thereof:
“Notwithstanding the foregoing provision
to th