AMENDMENT #1 TO NFS CONTRACT OF SALE & SECURITY AGREEMENT
Exhibit 10.16(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 | ||||||||
| Page 1 | Acknowledgment |
