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Exhibit 10.1
FIFTH AMENDMENT TO REVOLVING CREDIT
AND TERM LOAN AGREEMENT
This Fifth Amendment to Revolving Credit and Term Loan Agreement
is dated as of September 5, 2007, between XETA TECHNOLOGIES,
INC. , an Oklahoma corporation ("Borrower"), and BANK OF
OKLAHOMA, N.A. ("Bank").
RECITALS
A.
Reference is made to the Revolving Credit and Term Loan Agreement
dated as of October 1, 2003, and amended June 7, 2004, September
30, 2005, December 21, 2005, and September 28, 2006 (as amended,
the "Credit Agreement") between Borrower and Bank, pursuant to
which currently exists: (i) a term loan in the original
principal amount of $3,374,734.33 ("Term Loan"), (ii) a real estate
loan in the original principal amount of $2,238,333.48 ("Real
Estate Loan"), and (iii) a revolving line of credit in the amount
of $7,500,000 ("Revolving Line"). Terms used herein shall
have the meanings ascribed to them in the Credit Agreement unless
otherwise defined herein.
B.
Borrower has requested that Bank extend the commitment under the
Revolving Line to September 23, 2008; and Bank has agreed to
accommodate such request, subject to the terms and conditions set
forth below.
AGREEMENT
For valuable consideration received, it is agreed as
follows:
1.
AMENDMENTS TO THE CREDIT AGREEMENT . The Credit
Agreement is hereby amended as follows:
1.1. The
Revolving Line Note, attached to the Credit Agreement as
Schedule "1.49" is hereby replaced by the $7,500,000
Promissory Note in form and content as set forth on Schedule
"1.1" attached hereto ("Renewal Note").
1.2.
Section 1.53 (Termination Date) is hereby
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