Amendment to Financing Agreement between Sterling National Bank and Capstone Industries, Inc.

Contract Categories: Business Finance › Modification Agreements
Summary

Sterling National Bank and Capstone Industries, Inc. have agreed to amend their existing Financing Agreement dated August 27, 2010. The amendment specifies that, for interest calculation purposes, collections will be credited to Capstone's account four banking days after the bank receives them. All other terms of the original agreement remain unchanged.

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EX-10.12 5 exhibit10-12.htm




STERLING
NAIIONAL BANK


                                             500 Seventh Avenue
                                             New York, NY 10018-45
                                             Phone; 212 ###-###-####
                                             Fax: 212 ###-###-####
                                              ***@***

                                             Peter La Monica
                                             Vice President



November 5, 2015



Mr. Gerry McClinton Capstone Industries, Inc.
350 Jim Moran Boulevard-Suite 120
Deerfield Beach, Florida 33442 Dear Mr. McClinton
Re: Amendment to Factoring Agreement

This letter will modify and  amend  the  Financing  Agreement  between  us dated  August  27,  20 I 0, as follows:

Paragraph 11

For purpose of calculating interest, collections shall be deemed credited to your account
(4) four banking days after receipt thereof by us.

Nothing herein contained shall vary, alter or amend any provisions of said Financing Agreement between us, except as specifically provided herein.

  Gerry McClinton
                           COO