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Exhibit 10.29
NINTH AMENDMENT TO
LOAN AND SECURITY AGREEMENT
This Ninth Amendment to Loan and Security Agreement (“Amendment”) is dated as of December 29, 2015 by and among
DENT-A-MED INC., an Oklahoma corporation (“Dent-A-Med”), and HC RECOVERY, INC., an Oklahoma corporation
(collectively the “Borrowers” and each individually is referred to as a “Borrower”), WELLS FARGO BANK, N.A., successor by
merger to Wells Fargo Preferred Capital, Inc., as agent for Lenders (“Agent”), and the financial institutions a party hereto as lenders
(collectively, the “Lenders” and each is a “Lender”).
BACKGROUND
A. Borrowers, Lenders, and Agent are parties to a certain Loan and Security Agreement dated as of May 18, 2011 (as
amended or modified from time to time, the “Loan Agreement”). Capitalized terms used but not otherwise defined in this Amendment
shall have the meanings respectively ascribed to them in the Loan Agreement.
A. Borrowers have requested and Agent and Lenders have agreed to amend the Loan Agreement in certain respects, all on
the terms and conditions set forth herein.
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby promise and agree as follows:
1. Amendments. Upon the effectiveness of this Amendment, the Loan Agreement is amended as follows:
(a) Reporting Requirements. Section 6.2(f) of the Loan Agreement is amended and restated as follows:
(f) within Forty Five (45) days after the end of each fiscal quarter, company prepared consolidated financial
statements of Progressive Finance’s business for such previous fiscal quarter, consisting of a balance sheet, income
statement, and schedules as of the end of such fiscal quarter, all in reasonable detail, prepared in accordance with
GAAP consistently applied, subject to year-end adjustments and absence of footnotes; and
(b) Allowance for Loan Losses. Section 6.4(c) of the Loan Agreement is amended and restated as follows:
( c ) Allowance for Loan Losses. At all times the aggregate value of Borrowers’ allowance for loan losses
(inclusive of deferred discounts and merchants’ and providers’ recourse reserves), as calculated in accordance with
GAAP, shall be: