GLOBAL PAYMENTS INC
FIRST AMENDMENT DATED AS OF APRIL 30, 2002
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<TYPE>EX-10.35
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<FILENAME>dex1035.htm
<DESCRIPTION>FIRST AMENDMENT DATED AS OF APRIL 30, 2002
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<TITLE>Prepared by R.R. Donnelley Financial -- First Amendment dated as of April 30, 2002</TITLE>
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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="right"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Exhibit 10.35 </B></FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B><U>AMENDMENT NO. 1 TO CREDIT AGREEMENT</U> </B></FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000"><B>THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT</B> (this &#147;<U>Amendment</U>&#148;), dated as of April 30, 2002, by and among GLOBAL PAYMENTS INC., as Borrower and SunTrust Bank, as Lender. </FONT></DIV> <DIV><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><U>W I T N E S S E T H</U>: </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2" COLOR="#000000">WHEREAS, Borrower and the Lender are parties to a certain Credit Agreement dated as of September 26, 2001, (the &#147;Credit Agreement&#148;; capitalized terms used in this Amendment without definition that are defined in
the Credit Agreement shall have the meanings in this Amendment as specified for such capitalized terms in the Credit Agreement); </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000">WHEREAS, Borrower and Lender have agreed to amend the Credit Agreement in certain respects as set forth in this Amendment; </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2" COLOR="#000000">NOW, THEREFORE, for and in consideration of the mutual covenants contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally
bound, agree as follows: </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 1</B>.&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Amendments to Credit
Agreement.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the satisfaction of the conditions precedent set forth in Section 2 hereof, and effective as of the Effective Date (as hereinafter defined), the Credit Agreement is hereby amended by deleting
clause (C) of Section 5.3(a)(iii) in its entirety and substituting in lieu thereof the following clause (C): </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000">(C) by the Borrower and its Subsidiaries of obligations of other Subsidiaries of the Borrower that is not Debt of the types described in clauses (i) though (iv) of the definition of the term &#147;<U>Debt</U>&#148;, <I>provided
</I>that the obligations that are being Guaranteed are not prohibited by the terms of this Agreement, </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000"><B>SECTION 2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions to Effectiveness of Amendment.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;This Amendment shall become effective on the first day when executed by the parties hereto (the &#147;<U>Effective
Date</U>&#148;). </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Status of
Obligations.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;Borrower hereby confirms and agrees that all Advances and all other Obligations outstanding under the Credit Agreement and the other Loan Documents as of the date hereof were duly and validly created and
incurred by Borrower there under, that all such outstanding amounts are owed in accordance with the terms of the Credit Agreement and other Loan Documents, and that there are no rights of offset, defense, counterclaim, claim or objection in favor of
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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Borrower arising out of or with respect to any of the Advances or other
Obligations of Borrower to the Lender, and such rights of offset, defense, counterclaim, claims or objections have been and are hereby waived and released by Borrower. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations and Warranties of Borrower.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;Borrower, without limiting the
representations and warranties provided in the Credit Agreement, represents and warrants to the Lenders as follows: </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman"
SIZE="2" COLOR="#000000"><B>4.1</B>&nbsp;&nbsp;&nbsp;&nbsp;The execution, delivery and performance by Borrower of this Amendment are within Borrower&#146;s corporate powers, have been duly authorized by all necessary corporate action (including any
necessary shareholder action) and do not and will not (a) violate any provision of any law, rule or regulation, any judgment, order or ruling of any court or governmental agency, the certificate of incorporation or by-laws of Borrower, or any
indenture, agreement or other instrument to which Borrower is a party or any of its properties is bound or (b) be in conflict with, result in a breach of, or constitute with notice or lapse of time or both a default under any such indenture,
agreement or other instrument. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>4.2</B>&nbsp;&nbsp;&nbsp;&nbsp;This Amendment constitutes the
legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its terms. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000"><B>4.3</B>&nbsp;&nbsp;&nbsp;&nbsp;After giving effect to this Amendment, no Default or Event of Default has occurred and is continuing. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>4.4</B>&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of Borrower contained in the Credit Agreement are true and accurate on and as of the
date of the Amendment, except for changes expressly permitted under the terms of the Credit Agreement and except to the extent that such representations and warranties relate solely to an earlier date (in which case such representations and
warranties were true and accurate as of such earlier date). </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000"><B>4.5</B>&nbsp;&nbsp;&nbsp;&nbsp;Since February 28, 2002, there have been no events, acts, conditions or occurrences of whatever nature, singly or in the aggregate, which have had, or could reasonably be expected to have, a Material
Adverse Effect. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION
5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;Each of the foregoing representations and warranties shall be made at and as of the date of this Amendment and shall be deemed to have been made as of the Effective Date. Each of
the foregoing representations and warranties shall constitute a representation and warranty of Borrower under the Credit Agreement, and it shall be an Event of Default if any such representation and warranty shall prove to have been incorrect or
false in any material respect at the time when made or deemed to have been made. Each of the foregoing representations and warranties shall </FONT></DIV> <P></P>
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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">survive and not be waived by the execution and delivery of this Amendment or any
investigation by the Lender. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 6.&nbsp;&nbsp;&nbsp;&nbsp;<U>Ratification of Credit
Agreement and Loan Documents.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;Except as expressly amended herein, all terms, covenants and conditions of the Credit Agreement and the other Loan Documents shall remain in full force and effect, and the parties hereto
do expressly ratify and confirm the Credit Agreement (as amended herein) and the other Loan Documents. All future references to the Credit Agreement shall be deemed to refer to the Credit Agreement as amended hereby. <B></B></FONT></DIV> <DIV><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 7.</B><B>&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnity.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;In consideration of the
amendments agreed to by the Lender pursuant to this Amendment, Borrower hereby indemnifies the Lender, and its respective officers, partners, directors, employees, representatives and agents from, and hold each of them harmless against, any and all
costs, losses, liabilities, claims, damages or expenses incurred by any of them (whether or not any of them is designated a party thereto) (an &#147;Indemnitee&#148;) arising out of or by reason of any investigation, litigation or other proceeding
related to this Amendment, the Credit Agreement or any Loan Documents or any actual or proposed use of the proceeds of any of the Advances, including, without limitation, the reasonable fees and disbursements of counsel incurred in connection with
any such investigation, litigation or other proceeding ; <I>provided, however,</I> Borrower shall not be obligated to indemnify any Indemnitee for any of the foregoing arising out of such Indemnitee&#146;s gross negligence or willful misconduct.
</FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 8.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Waiver, Etc.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;Borrower
hereby agrees that nothing herein shall constitute a waiver by the Lenders of any Default or Event of Default, whether known or unknown, which may exist under the Credit Agreement. Borrower hereby further agrees that no action, inaction or agreement
by the Lender, including without limitation, any indulgence, waiver, consent or agreement altering the provisions of the Credit Agreement which may have occurred with respect to the non-performance of any obligation under the terms of the Credit
Agreement or any portion thereof, or any other matter relating to the Credit Agreement, shall require or imply any future indulgence, waiver, or agreement by the Lenders. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 9.&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding Nature.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;This Amendment shall be binding upon and inure to the benefit of the
parties hereto, their respective successors, successors-in-titles, and assigns. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION
10.&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs and Expenses.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;Borrower shall be responsible for the costs and expense of the Lender in connection with the preparation, execution and delivery of this Amendment and the other
instruments and documents to be delivered hereunder, including without limitation, the fees and out-of-pocket expense of counsel for the Lender with respect thereto. </FONT></DIV> <P></P>
 <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">3 </FONT></DIV>


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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 11.&nbsp;&nbsp;&nbsp;&nbsp;<U>GOVERNING
LAW.</U>&nbsp;&nbsp;&nbsp;&nbsp;THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF GEORGIA. </B></FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SECTION 12.&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire Understanding.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;This Amendment sets forth the entire understanding of the parties with respect to the matters set forth
herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="margin-left:4%; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
COLOR="#000000"><B>SECTION 13.&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts.</U></B>&nbsp;&nbsp;&nbsp;&nbsp;This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts and may be delivered by
telecopier. Each counterpart so executed and delivered shall be deemed an original and all of which taken together shall constitute but one and the same instrument. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2" COLOR="#000000">(Signatures Appear on Following Page) </FONT></DIV> <P></P>
 <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">4 </FONT></DIV>


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 <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV STYLE="text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered in Atlanta, Georgia, by their duly authorized officers as of the day and year first above written. </FONT></DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>GLOBAL PAYMENTS INC. </B></FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="16"> </TD> </TR>
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<TD VALIGN="top" WIDTH="3%"> <DIV STYLE="margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By:</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/&nbsp;&nbsp;J<SMALL>AMES</SMALL> G. K<SMALL>ELLY</SMALL></FONT></DIV> <HR NOSHADE COLOR="#000000" ALIGN="left"></TD> </TR>
<TR>
<TD> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" WIDTH="43%"> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>James G. Kelly</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Chief Financial
Officer</B></FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3" WIDTH="43%"> <DIV><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SUNTRUST BANK</B></FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="16"> </TD> </TR>
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<TD VALIGN="top" WIDTH="3%"> <DIV STYLE="margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By:</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center" WIDTH="43%"> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/&nbsp;&nbsp;&nbsp;&nbsp;B<SMALL>RIAN</SMALL> K.
P<SMALL>ETERS&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</SMALL></FONT></DIV> <HR NOSHADE COLOR="#000000" ALIGN="left"></TD> </TR>
<TR>
<TD> <FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" WIDTH="43%"> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Brian K. Peters</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Managing
Director</B></FONT></DIV> </TD> </TR>
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 <DIV ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">5 </FONT></DIV>

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