Second Amendment to Revolving Credit Agreement between Champion Industries, Inc. and United Bank, Inc.

Contract Categories: Business Finance › Credit Agreements
Summary

Champion Industries, Inc. and United Bank, Inc. have agreed to amend their existing Revolving Credit Agreement, originally dated August 1, 2003. This Second Amendment, effective July 1, 2005, extends the maturity date of the credit facility to July 31, 2008. All other terms of the original agreement and prior amendments remain unchanged and in effect. The amendment is acknowledged and consented to by several subsidiary guarantors of Champion Industries, ensuring their continued obligations under the agreement.

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EX-10.1 2 exhibit101.htm EXHIBIT 10.1 EXHIBIT 10.1

 SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT


THIS SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT (this “Second Amendment”), effective as of the 1st day of July, 2005, by and between CHAMPION INDUSTRIES, INC., a West Virginia corporation, with offices at 2450 First Avenue, Huntington, West Virginia 25703 (“Borrower”) and UNITED BANK, INC., a West Virginia state banking corporation, with offices at 2889 Third Avenue, Huntington, West Virginia 25702 (“UBI”).

WHEREAS, Borrower and UBI executed and delivered on August 1, 2003, a Revolving Credit Agreement (the “Credit Agreement”); and

WHEREAS, Borrower and UBI executed and delivered effective October 31, 2004, a First Amendment to Revolving Credit Agreement (“First Amendment”); and

WHEREAS, Borrower and UBI desire to modify and amend Section 1.1 of the Credit Agreement.

NOW, THEREFORE, in consideration of the mutual and separate agreement, conditions, covenants and warranties of the parties hereto, and further good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged.

Borrower and UBI agree as follows:

1. As of the effective date of this Second Amendment to the Credit Agreement, Section 1.1 of the Credit Agreement is hereby amended and modified as to the meaning of “Maturity or Maturity Date” to and shall read as follows:
“Maturity or Maturity Date shall mean July 31, 2008.”

2. The execution and delivery of this Second Amendment has been duly authorized by any and all necessary action on the part of the Borrower and the Subsidiary Guarantors, and no authorization, approval or consent by, or filing with any governmental or public regulatory authority is necessary therefore.

3. All terms and conditions of the (i) Credit Agreement, (ii) First Amendment, (iii) Revolving Credit Note and (iv) the Subsidiaries Guaranty and (v) all other documents relating to the transactions contemplated by the Credit Agreement are and shall remain in full force and effect and shall be binding upon the parties hereto, it being expressly understood that all such documents are herewith modified and amended to recognize the new Maturity Date of the Credit Agreement.

4. Borrower and the Subsidiary Guarantors hereby reaffirm all of the terms and provisions of (i) Credit Agreement, (ii) First Amendment, (iii) Revolving Credit Note and (iv) the Subsidiaries Guaranty and (v) all other documents relating to the transactions contemplated by the Credit Agreement.

IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have executed this First Amendment as of the day and year first above written.
CHAMPION INDUSTRIES, INC.,
a West Virginia corporation

By:  /s/ Todd R. Fry                                                              

Print Name: Todd R. Fry
Title: Senior Vice President and Chief Financial Officer

UNITED BANK, INC., a West Virginia
state banking corporation

By:  /s/ Linda J. Pleasants                                                   

Print Name: Linda J. Pleasants
Title: Vice President
 
     WITNESS undersigned signatories to the Subsidiaries Guaranty, herewith acknowledge and consent to the First Amendment to Revolving Credit Agreement, effective as of the 1st day of July, 2005, with the intent to be legally bound hereby.
 
 
 
 
ATTEST:
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
INTERFORM CORPORATION
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
ATTEST:
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
U.S. TAG & TICKET COMPANY, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
ATTEST:
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
THE CHAPMAN PRINTING COMPANY, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 

 
     
    WITNESS undersigned signatories to the Subsidiaries Guaranty, herewith acknowledge and consent to the First Amendment to Revolving Credit Agreement, effective as of the 1st day of July, 2005, with the intent to be legally bound hereby.
 
 
 
ATTEST:
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
STATIONERS, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
ATTEST:
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
DONIHE GRAPHICS, INC.
 
 
By:  /s/ Todd R. Fry                                                             
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
ATTEST:
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
THE MERTEN COMPANY
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
 
     WITNESS undersigned signatories to the Subsidiaries Guaranty, herewith acknowledge and consent to the First Amendment to Revolving Credit Agreement, effective as of the 1st day of July, 2005, with the intent to be legally bound hereby.
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
BOURQUE PRINTING, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
SMITH & BUTTERFIELD CO., INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
DALLAS PRINTING COMPANY, INC.
 
 
By:  /s/ Todd R. Fry                                                             
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
      
    WITNESS undersigned signatories to the Subsidiaries Guaranty, herewith acknowledge and consent to the First Amendment to Revolving Credit Agreement, effective as of the 1st day of July, 2005, with the intent to be legally bound hereby.
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
CAROLINA CUT SHEETS, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
CHMP LEASING, INC.
 
 
By:  /s/ Todd R. Fry                                                              
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
BLUE RIDGE PRINTING COMPANY, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 

 

 
      WITNESS undersigned signatories to the Subsidiaries Guaranty, herewith acknowledge and consent to the First Amendment to Revolving Credit Agreement, effective as of the 1st day of July, 2005, with the intent to be legally bound hereby.
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
ROSE CITY PRESS
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
CAPITAL BUSINESS EQUIPMENT, INC.
 
 
By:  /s/ Todd R. Fry                                                              
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
 
ATTEST:
 
 
/s/ Janet S. Carter                                                          
 
 
Print Name: Janet S. Carter
Title: Assistant Secretary
 
DIEZ BUSINESS MACHINES, INC.
 
 
By:  /s/ Todd R. Fry                                                              
Print Name: Todd R. Fry
Title: Vice President and 
Chief Financial Officer

 
 
     WITNESS undersigned signatories to the Subsidiaries Guaranty, herewith acknowledge and consent to the First Amendment to Revolving Credit Agreement, effective as of the 1st day of July, 2005, with the intent to be legally bound hereby.
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
TRANSDATA SYSTEMS, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
INDEPENDENT PRINTING SERVICE, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer
 
 
ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
THOMPSON'S OF MORGANTOWN, INC.
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Vice President and
Chief Financial Officer

ATTEST:
 
 
/s/ Toney K. Adkins                                                          
 
 
Print Name: Toney K. Adkins
Title: Vice President
 
SYSCAN CORPORATION
 
 
By:  /s/ Todd R. Fry                                                              
 
 
Print Name: Todd R. Fry
Title: Secretary