Preview | Business Loan Agreement |

Citibank (West), FSB

Business Loan Agreement


Borrower:		PeopleSupport, Inc.,
		a Delaware corporation

Address:		1100 Glendon Avenue
		Los Angeles, CA 90024

Date:		July 28, 2006

THIS BUSINESS LOAN AGREEMENT (Agreement) is entered into as of the above date between Citibank (West), FSB (Lender), with offices at 210 West Lexington Drive, Glendale, California, 91203, and the borrower named above (Borrower), whose chief executive office is located at the above address (Borrowers Address).

1. DEFINITIONS AND INTERPRETATIONS.

1.1 Definitions. As used in this Agreement, the following terms have the following meanings:

Account has the meaning set forth in Section 9102(a)(2) of the Code.

Account Debtor means a Person obligated on an Account, chattel paper or General Intangible.

Additional Costs has the meaning set forth in Section 3.2(vii).

Adjusted Quick Ratio means, as of the date of determination, Quick Assets divided by the amount of Revolving Loans outstanding.

Affiliate means, with respect to any Person, a relative, partner, shareholder, director, officer, or employee of such Person, or any parent or subsidiary of such Person, or any Person controlling, controlled by or under common control with such Person.

Audit means to inspect, audit and copy Borrowers books and records.

Borrower has the meaning set forth in the introduction to this Agreement.

Borrowers Address has the meaning set forth in the introduction to this Agreement.

Business Day means (i) a day on which Lender is open for business in the State of California, and (ii) a day on which banks are open for dealings in dollar deposits in the London interbank market.

Capital Expenditures means, for any period, the aggregate of all cash expenditures by Borrower during that period that, in conformity of GAAP, are or are required to be included in the property, plant or equipment reflected in the balance sheet of Borrower.

Change of Control shall be deemed to have occurred at such time as a person or group (within the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) (other than the current holders of the ownership interests in Borrower) becomes the beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, as a result of any


		Citibank (West), FSB		Business Loan Agreement

single transaction or a series of transactions, of more than fifty percent (50%) of the total voting power of all classes of stock or other ownership interests then outstanding of Borrower normally entitled to vote in the election of directors or analogous governing body.

Closing Date means the date of the initial funding under this Agreement.

Code means the Uniform Commercial Code as adopted and in effect in the State of California, from time to time, including revised Division 9 of the Uniform Commercial Code-Secured Transactions, effective July 1, 2001.

End of Preview

Home Intelligence Services Subscriptions News About Us