Back to top

SECOND AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT

Revolving Credit Agreement

SECOND AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT | Document Parties: BERLINER COMMUNICATIONS INC | BCI COMMUNICATIONS, INC | PNC BANK, NATIONAL ASSOCIATION You are currently viewing:
This Revolving Credit Agreement involves

BERLINER COMMUNICATIONS INC | BCI COMMUNICATIONS, INC | PNC BANK, NATIONAL ASSOCIATION

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: SECOND AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT
Governing Law: New Jersey     Date: 9/28/2009
Industry: Computer Networks     Sector: Technology

SECOND AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT, Parties: berliner communications inc , bci communications  inc , pnc bank  national association
50 of the Top 250 law firms use our Products every day

EXECUTION ORIGINAL

 

 

Exhibit 10.10

 

SECOND AMENDMENT TO REVOLVING CREDIT

AND SECURITY AGREEMENT

 

THIS SECOND AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT (this “Agreement”) is entered into September 25, 2009 by and between BCI COMMUNICATIONS, INC., a corporation organized under the laws of the State of Delaware (the “Borrower”), the financial institutions which are now or which hereafter become a party hereto (collectively, the “Lenders” and individually a “Lender”) and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as agent for Lenders (PNC, in such capacity, the “Agent”).

 

RECITALS

 

Whereas, the Borrower and PNC entered into a certain Revolving Credit and Security Agreement dated April 17, 2008 (as has been, is being and may be further amended, replaced, restated, modified and/or extended, the “Loan Agreement”); and

 

Whereas, Borrower and PNC have agreed to modify the terms of the Loan Agreement as set forth in this Agreement.

 

Now, therefore, in consideration of PNC’s continued extension of credit and the agreements contained herein, the parties agree as follows:

 

AGREEMENT

 

1)

ACKNOWLEDGMENT OF BALANCE. Borrower acknowledges that the most recent statement of account sent to Borrower with respect to the Obligations is correct.

 

2)

MODIFICATIONS.   The Loan Agreement be and hereby is modified as follows:

 

(I)  The definition of “EBITDA ” as set forth in Section 1.2 of the Loan Agreement is hereby deleted and replaced with the following definition to read as follows:

 

 

“EBITDA” shall mean for any period the sum of (i) Earnings Before Interest and Taxes for such period plus (ii) depreciation expenses for such period, plus (iii) amortization expenses for such period; specifically excluding however legal and advisory fees associated with any merger or acquisition activity in connection with the Borrower, said fees not to exceed the sum of $1,000,000 in the aggregate.

 

3)

WAIVER OF FINANCIAL COVENANT DEFAULT.   The Agent hereby waives compliance by the Borrower with respect to the Minimum EBITDA covenant contained in Section


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more