|4) || |
A new Section 2.1(d) is hereby added to the Agreement, as follows:
(d) Usage of Credit Card Services Under the Credit Card Services Non-Formula Revolving Line.
(i) Usage Period. Subject to and upon the terms and conditions of this Agreement, at any time from the Third Amendment Effective Date through the Credit Card Services Non-Formula Revolving Maturity Date, Borrower may use Credit Card Services (as defined below).
(ii) Credit Card Services. Subject to and upon the terms and conditions of this Agreement, Borrower may request corporate credit card services (collectively, the Credit Card Services) from Bank. The aggregate amount of Credit Card Services outstanding at any time shall not exceed the Credit Card Services Non-Formula Revolving Line. The terms and conditions (including repayment and fees) of such Credit Card Services shall be subject to the terms and conditions of the Banks standard forms of applications and agreements for the Credit Card Service provided, each of which Borrower hereby agrees to execute.
(iii) Collateralization of Obligations Extending Beyond Maturity. If Borrower has not cash secured its obligations with respect to any Credit Card Services by the Credit Card Services Non-Formula Revolving Maturity Date, then, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit or time deposit accounts issued by Bank in Borrowers name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts), shall automatically secure such obligations to the extent of the then continuing or outstanding Credit Card Services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the applicable Credit Card Services are outstanding or continue.
|5) || |
The following new defined terms are hereby added to Exhibit A to the Agreement, as follows:
Credit Card Services Non-Formula Revolving Line means a Credit Extension of up to $250,000.
Credit Card Services Non-Formula Revolving Maturity Date means September 25, 2015.
Series D Financing Milestone means Borrowers receipt, after the Third Amendment Effective Date but on or before March 31, 2015, of at least $20,000,000 in net Cash proceeds from the sale or issuance of Borrowers Series D equity securities to investors acceptable to Bank.
Third Amendment Effective Date means September 25, 2014.