WI T N E S S E T H :
Exhibit 10.36
FIRST AMENDMENT (the First Amendment), dated as of October 19, 2009 to the Amended and Restated Credit Agreement (the Credit Agreement) dated as of November 10, 2008 among CDI Corp. (the Company), CDI Corporation (the Subsidiary Borrower and collectively with the Company, the Borrowers), the Guarantors and Lenders party thereto, and JPMorgan Chase Bank, N.A. a national banking association for itself and as Administrative Agent.
W I T N E S S E T H :
WHEREAS, the Company has requested the Administrative Agent to modify the Credit Agreement in order to extend the Commitment Termination Date and the Administrative Agent is agreeable to such request;
NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the parties hereto hereby agree as follows:
1. Definitions. Except as otherwise stated, capitalized terms defined in the Credit Agreement and used herein without definition shall have the respective meanings assigned to them in the Credit Agreement.
2. Amendment to the Credit Agreement.
(a) Section 1.01, Defined Terms, is hereby amended by restating the definition of Commitment Termination Date to read as follows:
Commitment Termination Date means December 9, 2009.
3. Representations and Warranties. To induce the Administrative Agent (on behalf of the Lenders) to enter into this Amendment, each Borrower hereby represents and warrants that:
(a) No Default or Event of Default has occurred and is continuing under the Credit Agreement as of the date of this Amendment and after giving effect thereto.
4. Effective Date. This Amendment shall become effective as of the date hereof when the Administrative Agent shall have received counterparts of this Amendment duly executed by each of the parties hereto.
5. Counterparts. This Amendment may be signed in any number of counterparts, each of which shall be an original and all of which taken together shall constitute a single instrument with the same effect as if the signatures thereto and hereto were upon the same instrument.
6. Full Force and Effect. Except as expressly modified by this Amendment, all of the terms and provisions of the Credit Agreement shall continue in full force and effect, and all parties hereto shall be entitled to the benefits thereof.
7. Governing Law. This Amendment shall be governed by and construed in accordance with the internal laws (and not the law of conflicts) of the State of New York.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their proper and duly authorized officers as of the date set forth above.
CDI CORP. | ||
By: | /s/ Mark A. Kerschner | |
Name: | Mark A. Kerschner | |
Title: | Executive Vice President and CFO | |
CDI CORPORATION | ||
By: | /s/ Mark A. Kerschner | |
Name: | Mark A. Kerschner | |
Title: | Executive Vice President and CFO | |
SUBSIDIARY GUARANTORS: | ||
MANAGEMENT RECRUITERS | ||
INTERNATIONAL, INC. | ||
By: | /s/ Mark A. Kerschner | |
Name: | Mark A. Kerschner | |
Title: | Treasurer | |
MRI CONTRACT STAFFING, INC. | ||
By: | /s/ Joseph R. Seiders | |
Name: | Joseph R. Seiders | |
Title: | Vice President | |
JPMORGAN CHASE BANK, N.A., | ||
individually and as Administrative Agent | ||
By: | /s/ Devin T. Roccisano | |
Name: | Devin T. Roccisano | |
Title: | Associate |
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