AMENDMENT #1 TO NFS CONTRACT OF SALE & SECURITY AGREEMENT

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EX-10.13(B) 28 dex1013b.htm AMENDMENT NO. 1 TO NORTHRIM FUNDING SERVICES CONTRACT Amendment No. 1 to Northrim Funding Services Contract

Exhibit 10.13(b)

 

 

AMENDMENT #1

 

TO NFS CONTRACT OF SALE & SECURITY AGREEMENT

 

Dated: June 22, 2005

 

Definitions:

 

Paragraph 19 as follows:

 

“Purchase Formula” means at any time, and amount equal to 120% of the net amount of all Acceptable/Eligible Accounts.

 

Is replaced by:

 

“Purchase Formula” means at any time, an amount equal to 130% of the net amount of all Acceptable/Eligible Accounts.

 

This amendment is effective and applicable to invoices purchased under the CONTRACT OF SALE & SECURITY AGREEMENT of even date. All other terms, covenants and conditions will remain in effect and unchanged.

 

Tully’s Coffee Corporation        
By:  

/s/ Kristopher S. Galvin

           Date: July 20, 2005
   

Kristopher S. Galvin

Executive Vice President & CFO

            

 

Northrim Funding Services, a division of Northrim Bank

 

Accepted this 20th day of July, 2005, at Bellevue, WA

 

         
By:   /s/ Daniel J. Lowell            
   

Daniel J. Lowell

Vice President

            

 

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Acknowledgment