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Exhibit 10.33
AMENDMENT TO REVOLVING CREDIT AGREEMENT AND
NOTE
THIS AMENDMENT TO REVOLVING CREDIT AGREEMENT AND NOTE (this
"Amendment") date as of October 15, 2008, by and
between: TEAM FINANCIAL, INC., a Kansas corporation
("BORROWER"); and U.S. Bank N.A. , a national banking
association ("Bank"); and has reference to the following facts and
circumstances (the " Recitals "):
A.
Borrower and Bank executed the Revolving Credit Agreement dated
March 18, 2004 (as amended, the " Agreement "), under
which Borrower executed the Revolving Credit Note dated
March 18, 2004, payable to the Bank in the principal amount of
up to $6,000,000 (subsequently decreased to $4,000,000) (as
amended, the " Note ").
B.
This Agreement and the Note are secured by the collateral described
in certain security documents, including, but not limited to the
following (collectively, as amended, the " Security
Documents "):
1.
Possessory Collateral Pledge Agreement dated March 18, 2004,
executed by Team Financial Acquisition Subsidiary, Inc., in
favor of Bank, and covering the property as more particularly
described therein.
2.
Possessory Collateral Pledge Agreement dated September 30,
2004, executed by Post Bancorp, Inc., in favor of Bank, and
covering the property as more particularly described therein.
3.
Uniform Commercial Code Financing Statements filed with the Kansas
Secretary of State, and covering the property as more particularly
described therein.
C.
The Agreement and the Note were previously amended (most recently
as described in the Amendment to Loan Agreement and the Note dated
as of June 30, 2008); Borrower desires to further amend the
terms of the Agreement and the Note in the manner set forth herein;
and Bank is willing to agree to said amendments on the terms and
conditions set forth herein.
NOW, THEREFORE, in consideration of the premises, and other good
and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, Borrower and Bank hereby agree as
follows:
1.
Recitals. The Recitals are true and correct, and, with the
defined terms set forth herein, are incorporated by this
reference.
2.
Amendment to Agreement. The Agreement is amended as
follows:
(a)
The first sentence of Section 2.1 of the Agreement is deleted
and substituted with the following: "From time to time prior to
January 31, 2009, or the earlier termination hereof pursuant
to Article VI, Borrower may borrow from Bank up to the
aggregate principal amount outstanding at any one time of up to
Four Million Dollars ($4,000,000.00)."
(b)
The following is added to the end of Section 4.14 of the
Agreement: "In addition, Borrower shall provide Bank with the
following information, all in the form acceptable to Bank:
(i)
monthly financial statements of Borrower and Subsidiary Banks (to
be delivered no later than the twentieth day of each month);
(ii)
semi-monthly reports (to be delivered to Bank no later than the
fifteenth and last days each month), each of which shall include a
summary of the status of Subsidiary Banks’ compliance with
the terms of the Consent Orders (defined below), a summary of the
status of Borrower’s attempts to raise capital, and a
liquidity report;
(iii)
monthly status reports concerning the Strategic Plans (as defined
in the Consent Agreements), to be delivered to Bank no later than
the twentieth day of each month, with the final, approved Status
Reports to be delivered to Bank no later than December 31,
2008;
(iv)
copies of each report and schedule to be prepared by Subsidiary
Banks pursuant to Article V of the Consent Agreements,
including all weekly and monthly liquidity management reports (to
be delivered to Bank immediately upon completion of same):
1
(v)
a summary report regarding the loan review performed by BKD, LLP
(to be delivered to Bank within five (5) days after receipt of
same, but not later than November 30, 2008; and
(vi)
upon request, a capital analysis report for Subsidiary Banks."
(c)
The following is added to the Agreement as new
Section 4.16(c):
"(c)
Borrower shall provide Bank with advance written notice
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