EXHIBIT 10.32
FIRST AMENDMENT
THIS FIRST AMENDMENT ("First Amendment") is entered into by and between
Telcom Ventures, L.L.C. ("TV") and LCC International, Inc. ("LCC") as of the 1st
day of December 2001 (the "Effective Date") to amend that certain Note issued by
TV, as Borrower, to LCC, as Lender, dated September 30, 1996 (the "Note").
WITNESS
1. LOAN EXTENSION. Effective as of the Effective Date, the first paragraph of
the Note entitled "Payments of Principal and Interest" is hereby deleted and
replaced with the following:
"Payments of Principal and Interest
The parties acknowledge and agree that the principal amount outstanding
hereunder as of the Effective Date is US$750,262.85, which represents the
principal amount due in 2001 as well as the conversion into principal of all
interest due hereunder through the Effective Date.
Interest from the date hereof on the principal amount outstanding from time
to time until and after maturity hereof until paid shall be payable at the rate
of LIBOR plus 1.75 percent per annum (determined as provided below). From and
after the date hereof, interest accrued shall be paid by the Borrower to the
Lender on each anniversary of the Effective Date. Interest shall be calculated
on a year of 360 days based upon the actual number of days elapsed.
Principal shall be payable in one lump sum payment of US$750,262.85 due on
December 1, 2006."
2. PAYMENT ADDRESS. The reference to "2300 Xxxxxxxxx Xxxxxxxxx, Xxxxx 000,
Xxxxxxxxx, Xxxxxxxx 00000" is hereby changed to "7925 Xxxxx Xxxxxx Xxxxx,
XxXxxx, Xxxxxxxx 00000".
3. MISCELLANEOUS. All other terms, conditions and provisions of the Note shall
remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this First Amendment as of
the date first set forth above.
TELCOM VENTURES, L.L.C.
By: /s/ Xxxxx Xxxxxxx
-----------------------------------------
Name: Xxxxx Xxxxxxx
---------------------------------------
Title: President
--------------------------------------
LCC INTERNATIONAL, INC.
By: /s/ Xxxxx Xxxxxx
-----------------------------------------
Name: Xxxxx Xxxxxx
---------------------------------------
Title: SVP & CFO
--------------------------------------
2
