Amendment to Revolving Credit and Security Agreement between PNC Bank and Franklin Electronic Publishers, Inc. (March 4, 2008)
This amendment, dated March 4, 2008, extends the expiration date of a $20,000,000 committed line of credit provided by PNC Bank to Franklin Electronic Publishers, Inc. and its affiliates. The new expiration date is May 6, 2008, replacing the previous date of March 6, 2008. All other terms and conditions of the original credit agreement and related documents remain unchanged. The extension is temporary and subject to further credit review and approval.
Exhibit 10.24
March 4, 2008
Franklin Electronic Publishers, Inc.
Franklin Electronic Publishers (Europe) Ltd.
Franklin Electronic Publishers (Deutschland) GmbH
One Franklin Plaza
Burlington, New Jersey 08016-4908
Attention: Frank Musto
| Re: | Extension of Expiration Date for $20,000,000.00 Committed Line of Credit |
Dear Mr. Musto:
We are writing to inform you that your committed line of credit has been temporarily extended pending further credit review and approval. The Expiration Date, as set forth in that certain Revolving Credit and Security Agreement dated December 7, 2004, and in the Revolving Credit Note executed and delivered pursuant to that Letter Agreement, has been extended from March 6, 2008 to May 6, 2008, effective on March 7, 2008. All other terms and conditions of the Committed Line of Credit Note and the Letter Agreement remain in full force and effect.
It has been a pleasure working with you and I look forward to a continued successful relationship. Thank you again for your business.
| Very truly yours, | ||
| PNC BANK, NATIONAL ASSOCIATION | ||
| By: | /s/ Lori S. Franzon | |
| Lori S. Franzon | ||
| Vice President | ||
