First Amendment to Bankcard Marketing Agreement between Plains Commerce Bank and The Credit Store, Inc.

Summary

This amendment, dated March 15, 2002, updates the Bankcard Marketing Agreement between Plains Commerce Bank and The Credit Store, Inc. It adds a provision allowing the Bank to immediately terminate the agreement if an event of default occurs under a related Revolving Credit Agreement between the parties. All other terms of the original agreement remain unchanged.

EX-10.32(1) 7 ex-bankcardmarketing.txt FIRST AMENDMENT TO BANKCARD MARKETING AGREEMENT Exhibit 10.32.1 FIRST AMENDMENT TO BANKCARD MARKETING AGREEMENT THIS FIRST AMENDMENT TO BANKCARD MARKETING AGREEMENT is made this 15th day of March, 2002, by and between Plains Commerce Bank f/k/a/ Bank of Hoven, a South Dakota state bank (the "Bank") and The Credit Store, Inc., a Delaware corporation (the "Purchaser"). WHEREAS, the parties entered into a Bankcard Marketing Agreement dated February 9, 1999; and WHEREAS, the parties desire to amend Section 4.2 of the Bankcard Marketing Agreement relating to termination; NOW, THEREFORE, it is hereby agreed as follows: 1. A new Subsection 4.2 (c) shall be added to Section 4.2 as follows: "(c) If an Event of Default occurs under the Revolving Credit Agreement dated March 15, 2002, between Bank and Purchaser, as amended, the Bank may terminate this Agreement immediately." 2. In all other respects the Bankcard Marketing Agreement is confirmed and ratified. IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the year and date first above written. PLAINS COMMERCE BANK F/K/A BANK OF HOVEN By: /s/ Stephen Hageman ------------------- Stephen Hageman Title: President/CEO THE CREDIT STORE, INC. By: /s/ Michael J. Philippe ----------------------- Michael J. Philippe Title: Chief Financial Officer