REDUCING REVOLVING LINE OF CREDIT NOTEMotorcar Parts & Accessories Inc • July 1st, 2002 • Miscellaneous electrical machinery, equipment & supplies • California
FOR VALUE RECEIVED, the undersigned MOTORCAR PARTS & ACCESSORIES, INC., a New York corporation ("Borrower"), promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank") at its office at 333 South Grand Avenue, Suite 940, Los Angeles, California, or at such other place as the holder hereof may designate, in lawful money of the United States of America and in immediately available funds, the principal sum of Twenty-Four Million Seven Hundred Fifty Thousand Dollars ($24,750,000.00), or so much thereof as may be advanced and be outstanding, with interest thereon, to be computed on each advance from the date of its disbursement as set forth herein.
THIRD AMENDED AND RESTATED CREDIT AGREEMENTCredit Agreement • July 1st, 2002 • Motorcar Parts & Accessories Inc • Miscellaneous electrical machinery, equipment & supplies • California
THIS THIRD AMENDED AND RESTATED CREDIT AGREEMENT (as amended, modified, supplemented or restated from time to time, this "Agreement") is entered into as of June 28, 2002 by and between MOTORCAR PARTS & ACCESSORIES, INC., a New York corporation ("Borrower"), and WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank").
Motorcar Parts & Accessories, Inc. 2929 California Street Torrance, CA 90503Motorcar Parts & Accessories Inc • July 1st, 2002 • Miscellaneous electrical machinery, equipment & supplies • California
When executed and delivered by the parties hereto, this will confirm the agreement between Motorcar Parts & Accessories, Inc. ("we," "us," "our" or "Company") and Protea Group Inc. f/s/o Selwyn Joffe (collectively, "you," "your" or "Consultant") with respect to Consultant's equity enhancing efforts on behalf of the Company as described herein. The Company and you acknowledge that (i) Company and you are parties to a separate understanding pursuant to which you act as Chairman of the Board of the Company and (ii) this agreement is separate from and in addition to the Chairman of the Board understanding.
TERM NOTEMotorcar Parts & Accessories Inc • July 1st, 2002 • Miscellaneous electrical machinery, equipment & supplies • California
FOR VALUE RECEIVED, the undersigned MOTORCAR PARTS & ACCESSORIES, INC., a New York corporation ("Borrower"), promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank") at its office at 333 South Grand Avenue, Suite 940, Los Angeles, California, or at such other place as the holder hereof may designate, in lawful money of the United States of America and in immediately available funds, the principal sum of Eight Million Dollars and No/100 ($8,000,000.00), with interest thereon as set forth herein.
SunTrust Bank 55 Park Place Atlanta, Georgia 30303 Receivables Capital Management Division June 5, 2002Motorcar Parts & Accessories Inc • July 1st, 2002 • Miscellaneous electrical machinery, equipment & supplies
This Letter of Understanding and Agreement (herein sometimes, the "Agreement") is intended to set forth the agreement as to how Motorcar Parts and Accessories, Inc., a New York corporation ("Supplier"), may utilize the SunTrust Draft Program (the "Program") of SunTrust Bank, a Georgia banking corporation, as agent for itself and various other purchasers (in such capacity, "Agent"). The terms and conditions set forth herein shall govern all transactions between Agent and Supplier. Each purchase of a SunTrust Draft (as hereinafter defined) constitutes a new transaction and a reaffirmation of the representations, warranties and all other terms hereof.
