Opinion
Case No. 00-34533, Jointly Administered.
November 1, 2004
Katherine M. Mueller, Esquire, LeClair Ryan, A Professional Corporation Richmond, Virginia.
Bruce W. Moorhead, Jr., Esquire, Hunton Williams LLP, Atlanta, GA, Counsel for The CIT Group/Business Credit, Inc.
ORDER AUTHORIZING THE DEBTORS (A) TO ENTER INTO FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT AND (B) TO PAY AMENDMENT FEE
This matter comes before the Court upon the Debtor's Motion to Authorize (A) Fourth Amendment to Loan and Security Agreement and (B) Payment of Amendment Fee (the "Motion"), the Court having reviewed the Motion and having heard the statements of counsel in support of the relief requested therein at a hearing before the Court (the "Hearing"), the Court finding that (a) the Court has jurisdiction over this matter pursuant to 28 U.S.C. §§ 157 and 1334, (b) this is a core proceeding pursuant to 28 U.S.C. § 157(b)(2), (c) notice of the Motion (and proposed Order) was sufficient, and (d) entry into the Fourth Amendment to Loan and Security Agreement and Payment of the Amendment Fee is supported by the sound business judgment of the Debtors; and the Court being fully advised in the premises and having determined that the legal and factual bases set forth in the Motion and at the Hearing establish just cause for the relief granted herein; it is hereby
ORDERED that:
1. The Motion is hereby GRANTED.
2. Capitalized terms not otherwise defined herein have the meanings given them in the Motion.
3. The Debtors are authorized to enter into the Fourth Amendment to Loan and Security Agreement and to take all action necessary or appropriate in connection with entry thereof.
4. The Debtors are further authorized to pay the Amendment Fee of $66,667.00 to CIT in two equal payments of $33,333.50 — the first due upon entry of this Order and subsequent execution of the Fourth Amendment and the second due no later than March 1, 2005.
5. Upon entry, the clerk shall serve a copy of this Order to those parties on the Service list attached hereto.