EXHIBIT 10.14
[LOGO] XXXXX FARGO BANK, NATIONAL ASSOCIATION FIRST AMENDMENT TO
CREDIT AGREEMENT
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THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is entered into
as of December 31, 2000 by and between DATALINK CORPORATION, a MINNESOTA
CORPORATION ("Borrower"), and XXXXX FARGO BANK, NATIONAL ASSOCIATION, as
successor in interest to NORWEST BANK MINNESOTA, 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 June 30, 2000 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 7.2a is hereby deleted in its entirety, and the following
substituted therefor:
(a) Tangible Net Worth plus Subordinated Debt. Maintain a minimum
Tangible Net Worth plus Subordinated Debt of not less than $15,000,000.00, as
of its fiscal quarter ending March 31, 2001, and, for each fiscal quarter end
thereafter, amount equal to $15,000,000.00 plus 75% of its cumulative net
earnings for each preceding fiscal quarter, starting with the fiscal quarter
ending as of March 31, 2001.
2. Section 7.2c is hereby deleted in its entirety, and the following
substituted therefor:
(c) Net Working Capital. Maintain Net Working Capital of not less than
$10,000,000.00 as of the end of each fiscal quarter.
3. Section 7.3c is hereby deleted in its entirety, and the following
substituted therefor:
(c) Capital Expenditures. Refrain from making, or committing to make,
capital expenditures (including the total amount of any capital leases) in
an aggregate amount exceeding $8,000,000.00 in any single fiscal year.
4. 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.
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5. 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.
XXXXX FARGO BANK,
DATALINK CORPORATION NATIONAL ASSOCIATION
By: By:
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Xxxxxx X. Xxxxxxxx, CFO Xxxxx Xxxxxxxx, Vice President
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