Renewal Notice for $500,000 Revolving Line of Credit between Empowered Products, Inc. and Wells Fargo Bank, N.A.
This notice informs Empowered Products, Inc. that its $500,000 revolving line of credit with Wells Fargo Bank, N.A. has been renewed, with a new maturity date of November 1, 2013. The credit remains subject to the original loan terms, with an interest rate set at the applicable index plus 1%. A non-refundable renewal fee of $2,500 will be charged. If Empowered Products, Inc. does not wish to renew, it must notify the bank in writing within 10 days and arrange to pay the outstanding balance.
RENEWAL NOTICE
November 5, 2012
Empowered Products, Inc.
3367 W OQUENDO RD
LAS VEGAS, NV 89118
RE: Renewal of: $500,000.00 Revolving Line of Credit
Reference #:
Customer #:
Dear Empowered Products, Inc.
Wells Fargo Bank, National Association is pleased to inform you that your Business Revolving Line of Credit, in the amount of $500,000.00, ahs been approved for renewal. The new maturity date will be November 1, 2013.
Your Revolving Line of Credit remains subject to all terms and conditions of existing loan documentation, as modified by this Renewal Notice. The credit limit/maximum principal amount is now $500,00000. The interest rate to be applied to the unpaid principal balance of the Credit/Note will be a rate equal to the sum of the applicable index plus 1.000% subject, however, to any maximum or minimum rates as set forth in the existing loan documentation.
A non-refundable renewal fee of $2,500.00, will be charged to your account number . If you do not desire the renewal of the Credit/Note on these terms, you must (i) deliver to Wells Fargo Bank, National Association at BBSG San Antonis Loan Ops, 4101 Wiseman Blvd., Bldg 307, MAC T7422-012, San Antonio, TX 78251 a written rejection of the renewal within 10 days from the date of this letter, (ii) not draw additional funds under the Credit/Note, and (iii) promptly make other arrangements with your loan officer to pay the matured balance of the Credit/Note.
This renewal will be effective upon processing of the renewal fee.
If you have any questions, please do not hesitate to call me at ###-###-####. We appreciate your business and look forward to continuing to serve as your business bank.
Sincerely,
Wells Fargo Bank, National Association
By: /s/ Darrin S. Hansen
Name: Darrin S. Hansen
Title: Vice President
