ASCENT ASSURANCE INC
EXHIBIT 10.41
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<TYPE>EX-10.41
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<DESCRIPTION>EXHIBIT 10.41
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<H4 ALIGN=RIGHT>Exhibit 10.41</H4>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><U>EIGHTH AMENDMENT TO
CREDIT AGREEMENT </U></FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Eighth Amendment to Credit Agreement (the &#147;Amendment&#148;) is made as of this 27th
day of January, 2003 by and among ASCENT FUNDING, INC. (the &#147;Borrower&#148;), and
LASALLE BANK NATIONAL ASSOCIATION (the &#147;Bank&#148;). </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><U>W I T N E S S E T H: </U></FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
the Borrower and the Bank are parties to that certain Credit Agreement, dated as of June
6, 1997, as amended by that certain First Amendment to Credit Agreement, dated as of
September 8, 1998, as further amended by that certain Second Amendment to Credit
Agreement, dated as of August 12, 1999, as further amended by that certain Third Amendment
to Credit Agreement, dated as of November 30, 2000 with an effective date of September 30,
2000, as further amended by that certain Fourth Amendment to Credit Agreement, dated as of
April 17, 2001, as further amended by that certain Fifth Amendment to Credit Agreement,
dated as of November 27, 2001, as further amended by that certain Sixth Amendment to
Credit Agreement, dated as of May 15, 2002, and as further amended pursuant to that
certain Seventh Amendment to Credit Agreement, dated as of November 20, 2002
(collectively, the &#147;Credit Agreement&#148;); </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
the Borrower has notified the Bank that it will be applying funds in the Cash Collateral
Account (as defined in the Credit Agreement) to repay that certain Installment Note dated
July 20, 1999 from Ascent Management, Inc. (&#147;AMI&#148;) in favor of the Bank in the
original principal amount of $3,300,000 (the &#147;AMI Note&#148;) and, as a result, the
advance rate applicable under the Borrowing Base (as defined in the Credit Agreement) will
be reduced to 90% in accordance with the terms of the Credit Agreement unless and until
the Borrower replenishes the Cash Collateral Account; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
as a result of the foregoing payoff and reduction in the Cash Collateral Account, the
Borrower and the Bank desire to further amend the Credit Agreement as more fully set forth
herein; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW,
THEREFORE</B>, in consideration of the mutual agreements herein contained and other good
and valuable consideration, the adequacy of which is hereby acknowledged, and subject to
the terms and conditions hereof, the parties hereto agree as follows: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION I. &nbsp;&nbsp;&nbsp;<B><U>DEFINITIONS. </U></B>
Unless  otherwise  defined  herein,  all  capitalized  terms  shall have the meaning
given to them in the Credit Agreement.</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION II.&nbsp;&nbsp;&nbsp;<B><U>WAIVER OF NEGATIVE
COVENANT</U></B>. The Bank hereby waives compliance with Section 7.13 of the Credit
Agreement solely for purposes of enabling the Borrower to make certain distributions to
the Guarantor to be applied solely to the repayment of AMI&#146;s obligations to the Bank
under the AMI Note on or before January 31, 2003. The foregoing limited waiver shall in no
way be construed to limit or otherwise affect the Borrower&#146;s future compliance with
Section 7.13 of the Credit Agreement. </FONT></P>





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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION III.&nbsp;&nbsp; <B><U>AMENDMENTS TO CREDIT AGREEMENT.</U></B></FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 The Credit Agreement is hereby amended by deleting Section 4.2(j) in its
          entirety and inserting the following in its stead: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          the Borrower&#146;s Consolidated GAAP Net Worth shall not be less than
          $3,828,000.&#148; </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2
The Credit Agreement is hereby amended by deleting Section 4.2(k) in its entirety.</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3
The Credit Agreement is hereby amended by deleting Section 7.10 in its entirety and
inserting the following in its stead: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;7.10
<U>Minimum Consolidated GAAP Net Worth</U>. At any time during the term hereof, permit the
Consolidated GAAP Net Worth of the Borrower and its Subsidiaries to be less than an amount
equal to the sum of (a) $3,828,000 <I>plus</I> (b) 50% of any cumulative positive Net
Income of the Borrower and its Subsidiaries for each fiscal quarter following the fiscal
quarter ending December 31, 2000 <I>plus</I> (c) Deferred Revenues as of the end of the
most recent fiscal quarter.&#148; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION IV. &nbsp;&nbsp; <B><U>CONDITIONS  PRECEDENT. </U></B>
  The  effectiveness  of  this  Amendment  is  expressly  conditioned  upon
satisfaction of the following conditions precedent:</FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1
      The Bank shall have received a copy of this Amendment duly executed by the Borrower. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2
The Bank shall have received a duly executed Seventh Amendment to Guaranty Agreement
executed by Ascent Assurance, Inc. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3
The Bank shall have received such other documents, certificates and assurances as it shall
reasonably request, all of which shall have been delivered on or prior to the date hereof. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION V. &nbsp;&nbsp;&nbsp;<B><U>REAFFIRMATION OF THE
BORROWER.</U></B> The Borrower hereby represents and warrants to the Bank that
(i)&nbsp;the warranties set forth in Article 5 of the Credit Agreement are true and
correct on and as of the date hereof, except to the extent (a) that any such warranties
relate to a specific date, or (b) changes thereto are a result of transactions for which
the Bank has granted its consent; (ii)&nbsp;the Borrower is on the date hereof in
compliance with all of the terms and provisions set forth in the Credit Agreement as
hereby amended; and (iii) upon execution hereof no Event of Default has occurred and is
continuing or has not previously been waived. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION VI.
&nbsp;&nbsp;<B><U>EXPENSES</U></B>. The Borrower shall pay, upon demand, all reasonable
attorneys&#146; fees and out-of-pocket costs of the Bank in connection with this Amendment
and the agreements, documents and other items contemplated hereunder. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION VII.&nbsp;
<B><U> FULL FORCE AND EFFECT.</U></B>  Except as herein  amended,  the Credit  Agreement and all other Loan  Documents
shall remain in full force and effect.</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECTION  VIII.
<B><U>  COUNTERPARTS.</U></B>  This  Amendment may be executed in two or more  counterparts,  each of which shall be
deemed an original, but all of which together shall constitute one and the same document.
</FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>
</B> <B>IN WITNESS WHEREOF</B>, the parties hereto have executed this Amendment on the day
and year specified above. </FONT></P>

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<TD WIDTH=55% ALIGN=LEFT>&nbsp;</TD>
<TD WIDTH=45% ALIGN=LEFT><FONT SIZE=2><B>ASCENT FUNDING, INC.</B> </FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>By: /Patrick J. Mitchell/</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>Name: Patrick J. Mitchell</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>Title: President</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD></TR>
<TR>
<TD>&nbsp;</TD></TR>
<TR>
<TD ALIGN=LEFT>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2><B>LASALLE BANK NATIONAL ASSOCIATION</B> </FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>By: /Bradley Kronland/</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>Name: Bradley Kronland   </FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>Title: Assistant Vice President</FONT></TD></TR>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>ACKNOWLEDGMENT AND
AGREEMENT OF GUARANTOR </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned, ASCENT ASSURANCE, INC. (formerly Westbridge Capital Corp.), hereby ratifies
and reaffirms that certain Guaranty dated June 6, 1997 (as amended from time to time, the
&#147;Guaranty&#148;) made by the undersigned in favor of LaSalle Bank National
Association (the &#147;Bank&#148;) and each of the terms and provisions contained therein,
and agrees that the Guaranty continues in full force and effect following the execution
and delivery of the foregoing Amendment. The undersigned represents and warrants to the
Bank that the Guaranty was, on the date of the execution and delivery thereof, and
continues to be, the valid and binding obligation of the undersigned enforceable in
accordance with its terms and that the undersigned has no claims or defenses to the
enforcement of the rights and remedies of the Bank under the Guaranty. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN
WITNESS WHEREOF</B>, this Acknowledgment and Agreement of Guarantor has been duly authorized
as of this 27th day of January, 2003. </FONT></P>

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<TR>
<TD WIDTH=60% ALIGN=LEFT>&nbsp;</TD>
<TD WIDTH=35% ALIGN=LEFT><FONT SIZE=2><B>ASCENT ASSURANCE, INC.</B> </FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>By: /Patrick J. Mitchell/</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>Name: Patrick J. Mitchell</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD>
<TD ALIGN=LEFT><FONT SIZE=2>Title: President</FONT></TD></TR>
<TR>
<TD>&nbsp;</TD></TR>
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