EXHIBIT 10.47
AMENDMENT NO. 7 TO AMENDED AND RESTATED BUSINESS LOAN AGREEMENT
This Amendment No. 7 to Amended and Restated Business Loan Agreement dated as of
February 28, 2002 (this "Amendment") is executed with reference to the Amended
and Restated Business Loan Agreement dated as of April 30, 2001 (as amended, the
"Loan Agreement") among Bank of America, N.A. (the "Bank"), IMPCO Technologies,
Inc. (the "Borrower") and Quantum Fuel Systems Technologies Worldwide, Inc.
(under its former name, Quantum Technologies, Inc.) (the "Subsidiary Borrower").
The parties hereby agree to amend the Loan Agreement as follows:
1. Defined Terms. All initially capitalized terms used in this Amendment
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without definition shall have the respective meanings assigned thereto in the
Loan Agreement.
2. Amendment to Section 1.2. Section 1.2 of the Loan Agreement is hereby
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amended by deleting the reference to "February 28, 2002" and substituting in
place thereof a reference to "March 31, 2002".
3. Amendment to Section 2.3(b). Section 2.3(b) of the Loan Agreement is
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hereby amended by deleting the reference to "February 28, 2002" and substituting
in place thereof a reference to "March 31, 2002".
4. Amendment to Section 3.4(b). Section 3.4(b) of the Loan Agreement is
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hereby amended by deleting the reference to "February 28, 2002" and substituting
in place thereof a reference to "March 31, 2002".
5. Conditions Precedent. The effectiveness of this Amendment shall be
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conditioned upon receipt by the Bank of all of the following:
a. Counterparts of this Amendment executed by all parties hereto;
b. Receipt by the Bank of an amendment fee in the amount of $5,000 and
payment of the Bank's legal fees and expenses of its counsel, including any
outstanding invoices; and
c. Such other assurances, certificates, documents, consents or opinions as
the Bank reasonably may require.
6. Representations and Warranties. The Borrower hereby represents and
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warrants that no default under Section 13 of the Loan Agreement has occurred and
remains continuing.
7. Counterparts. This Amendment may be executed in counterparts in
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accordance with Section 14.12 of the Loan Agreement.
8. Confirmation. In all other respects, the Loan Agreement is confirmed.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date first written above by their duly authorized representatives.
IMPCO TECHNOLOGIES, INC.
By /s/Xxxxxxx X. Xxxxx
______________________________________
Title: CFO
__________________________________
QUANTUM FUEL SYSTEMS TECHNOLOGIES WORLDWIDE, INC.
(formerly known as Quantum Technologies, Inc.)
By: /s/ Xxxxxxx X. Xxxxxx
_____________________________________
Title: Director of Financial Services
__________________________________
BANK OF AMERICA, N.A.
By: /s/ Xxxxx X. Xxxxxxxxx
_____________________________________
Title: Vice President
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