Letter Agreement Extending Commitment Termination Date under Credit Agreement between FlexShopper 2, LLC and WE 2014-1, LLC
This letter agreement, dated January 9, 2018, is between FlexShopper 2, LLC and WE 2014-1, LLC. It extends the "Commitment Termination Date" under their existing Credit Agreement from April 1, 2018, to August 31, 2018. Both parties acknowledge and agree to this extension, which allows FlexShopper 2, LLC continued access to the credit facility for the extended period. All other terms of the original Credit Agreement remain unchanged.
Exhibit 10.1
WE 2014-1, LLC
1140 Avenue of the Americas
New York, NY 10036
January 9, 2018
FlexShopper 2, LLC
2700 N. Military Trail, Suite 200
Boca Raton, FL 33431
Re: Notice to Extend Commitment Termination Date
Ladies and Gentlemen:
We refer to the Credit Agreement (as amended from time to time, the “Credit Agreement”), dated as of March 6, 2015, among FlexShopper 2, LLC, Wells Fargo Bank, National Association, as paying agent, the various lenders from time to time party thereto and WE 2014-1, LLC, as administrative agent. Capitalized terms not defined herein shall have the meanings set forth in the Credit Agreement.
Pursuant to the Credit Agreement, the Administrative Agent and the Lender hereby notify the Company that the date in clause (i) of the definition of “Commitment Termination Date” is hereby extended from April 1, 2018 to August 31, 2018.
Please acknowledge this letter by countersigning under your name below.
[Signature Page Follows]
| WE 2014-1, LLC, | ||
| as Administrative Agent and Lender | ||
| By: | /s/ Thomas Buttacavoli | |
| Name: | Thomas Buttacavoli | |
| Title: | Manager | |
Acknowledged as of the date first above written:
| FLEXSHOPPER 2, LLC, | ||
| as a Company | ||
| By: | /s/ Brad Bernstein | |
| Name: | Brad Bernstein | |
| Title: | CEO | |
