CAPITAL TEMPFUNDS DIVISION OF CAPITAL BUSINESS CREDIT LLC 1799 West Oakland Park Boulevard Ft. Lauderdale, Florida 33311 November 13, 2007
Exhibit 10.13
CAPITAL TEMPFUNDS
DIVISION OF CAPITAL BUSINESS CREDIT LLC
0000 Xxxx Xxxxxxx Xxxx Xxxxxxxxx
Xx. Xxxxxxxxxx, Xxxxxxx 00000
DIVISION OF CAPITAL BUSINESS CREDIT LLC
0000 Xxxx Xxxxxxx Xxxx Xxxxxxxxx
Xx. Xxxxxxxxxx, Xxxxxxx 00000
November 13, 2007
Ladies and Gentlemen:
Reference is made to the Loan and Security Agreement entered into between you (“Borrower”) and
Capital TempFunds, division of Capital Business Credit LLC, f/k/a Capital Factors LLC (“Capital),
dated April 7, 2006, as amended by the terms of that certain First Amendment to Loan and Security
Agreement dated as of July 24, 2006 as further amended by the terms of that certain Second
Amendment to Loan and Security Agreement dated as of August 22, 2006, as further amended by the
terms of that certain Third Amendment to Loan and Security Agreement dated as of November 29, 2006,
as further amended by the terms of that certain Fourth Amendment to Loan and Security Agreement
dated as of April 2, 2007 as may have been further amended by the terms of that certain Fifth
Amendment to Loan and Security Agreement dated as of July 18, 2007 as may have been further amended
from time to time (as amended, the “Agreement”) and
WHEREAS the Borrower has requested and Capital has agreed to amend certain provisions of the
Agreement and waive certain Specified Events of Default:
NOW, THEREFORE, It is hereby agreed as follows:
1. The over formula accommodation of up to five percent (5%) of Acceptable Accounts
shall continue through November 19, 2007,
2. Capital does hereby waive the Events of Default under the Agreement as a result of
the Borrower’s failure to meet the financial covenants set forth
in items 32(a), (b), (c),
and (d) to Exhibit B (collectively, the “Specified Events of Default”) for the period
ending September 28, 2007; provided, however, that such waiver by Capital shall relate
solely to the Specified Events of Default for the period indicated and shall in no way
prevent Capital from exercising its remedies related to any default occurring on any day
other than as set forth above (whether related to the sections of the Loan Agreement listed
above or otherwise); provided, further, that this waiver shall become effective and binding
on the parties hereto immediately upon the execution and delivery hereof. Capital’s waiver
hereunder does not and shall not create any obligation of Capital to consider or agree to
any further waivers.
3. The Fidelity Guarantor, Xxxxx Xxxxxxx (“Guarantor”), by signing below, consents to
the terms of this Sixth Amendatory Agreement to Loan and Security Agreement, reaffirms the
terms of his Performance Guaranty dated as of April 3, 2006 (the “Guaranty”), and confirms
that the Guaranty is in full force and effect and binding upon him without any defenses,
setoffs or counterclaims of any kind whatsoever.
4. Except as above amended, the Agreement remains in full force and effect and binding upon
the Borrower without any defenses, setoffs or counterclaims of any kind whatsoever.
5. To induce Capital to enter into this Amendment, Borrower and Guarantor (a) acknowledge and
agree that no right of offset, defense, counterclaim, claim or objection exists in favor of
Borrower and/or Guarantor against Capital arising out of or with respect to the Loan Agreement,
the other Loan Documents, the Guaranty, the Obligations, or any other arrangement or relationship
between Capital and Borrower and/or Guarantor, and (b) release, acquit, remise and forever
discharge Capital and its affiliates and all of their past, present and future officers,
directors, employees, agents, attorneys, representatives, successors and assigns from any and all
claims, demands, actions and causes of action, whether at taw or in equity and whether known or
unknown, which Borrower and Guarantor may have by reason of any manner, cause or things to and
including the date of this Amendment with respect to matters arising out of or with respect to the
Loan Agreement, the other Loan Documents, the Guaranty, the Obligations, or any other arrangement
or relationship between Capital and Borrower and/or Guarantor.
6. Borrower shall be obligated to pay to Capital an amendment fee of $25,000 which fee shall
be waived if the proceeds of the anticipated Private Investment in Public Equity (“PIPE”) in an
amount of no less than $10,500,000 is received by Borrower no later than November 19, 2007.
7. All capitalized terms not otherwise defined herein shall have the meanings ascribed to
them in the Agreement.
Very truly yours, CAPITAL TEMPFUNDS Division of Capital Business Credit LLC |
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By: | /s/ Xxxxxxx Fruan | |||
Vice President | ||||
Read and Agreed to: COMMAND CENTER, INC. |
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By: | /s/ Xxxx X. Xxxx | ||||
Xxxx X. Xxxx CFO | |||||
Confirmed |
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/s/ Xxxxx Xxxxxxx | |||||
Xxxxx Xxxxxxx, Individually | |||||