Third Amendment to Credit Agreement between Rimage Corporation and Wells Fargo Bank
Rimage Corporation and Wells Fargo Bank have agreed to amend their existing credit agreement. The main change extends the final date for advances under the line of credit from July 1, 2008, to July 1, 2009, contingent on the execution of a new promissory note and related documents. All other terms of the original credit agreement remain unchanged. Rimage Corporation confirms that it is not in default under the agreement as of the amendment date.
Exhibit 10.13
THIRD AMENDMENT TO CREDIT AGREEMENT
THIS AMENDMENT TO CREDIT AGREEMENT (this Amendment) is entered into as of June 7, 2007, by and between RIMAGE CORPORATION, a Minnesota corporation (Borrower), and WELLS FARGO BANK, NATIONAL ASSOCIATION (Bank).
RECITALS
WHEREAS, Borrower is currently indebted to Bank pursuant to the terms and conditions of that certain Credit Agreement between Borrower and Bank dated as of March 29, 2004, as amended from time to time (Credit Agreement).
WHEREAS, Bank and Borrower have agreed to certain changes in the terms and conditions set forth in the Credit Agreement and have agreed to amend the Credit Agreement to reflect said changes.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree that the Credit Agreement shall be amended as follows:
1. Section 1.1. (a) is hereby amended by deleting July 1, 2008 as the last day on which Bank will make advances under the Line of Credit, and by substituting for said date July 1, 2009, with such change to be effective upon the execution and delivery to Bank of a promissory note dated as of June 7, 2007 (which promissory note shall replace and be deemed the Line of Credit Note defined in and made pursuant to the Credit Agreement) and all other contracts, instruments and documents required by Bank to evidence such change.
2. Except as specifically provided herein, all terms and conditions of the Credit Agreement remain in full force and effect, without waiver or modification. All terms defined in the Credit Agreement shall have the same meaning when used in this Amendment. This Amendment and the Credit Agreement shall be read together, as one document.
3. Borrower hereby remakes all representations and warranties contained in the Credit Agreement and reaffirms all covenants set forth therein. Borrower further certifies that as of the date of this Amendment there exists no Event of Default as defined in the Credit Agreement, nor any condition, act or event which with the giving of notice or the passage of time or both would constitute any such Event of Default.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the day and year first written above.
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RIMAGE CORPORATION |
| WELLS FARGO BANK, | ||
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By: | /s/ Bernard P. Aldrich |
| By: | /s/ Cynthia Goplen |
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| Bernard P. Aldrich, President |
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| Cynthia Goplen, Vice President |
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By: | /s/ Robert M. Wolf |
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| Robert M. Wolf, Secretary and |
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