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COAST BUSINESS CREDIT(R)
EIGHTH AMENDMENT TO LOAN AND SECURITY AGREEMENT
BORROWER: NTN COMMUNICATIONS, INC.
ADDRESS: 0000 XX XXXXX XXXXX, XXXXX 000
XXXXXXXX, XXXXXXXXXX 00000
BORROWER: BUZZTIME ENTERTAINMENT, INC.
ADDRESS: 0000 XX XXXXX XXXXX, XXXXX 000
XXXXXXXX, XXXXXXXXXX 00000
BORROWER: NTN WIRELESS COMMUNICATIONS, INC.
ADDRESS: 0000 XX XXXXX XXXXX, XXXXX 000
XXXXXXXX, XXXXXXXXXX 00000
DATE: AS OF NOVEMBER 23, 2002
THIS EIGHTH AMENDMENT TO THE LOAN AND SECURITY AGREEMENT ("Eighth Amendment") is
entered into as of the above date between COAST BUSINESS CREDIT, a division of
Southern Pacific Bank ("Coast"), a California corporation, with offices at 00000
Xxxxxxxx Xxxxxxxxx, Xxxxx 0000, Xxx Xxxxxxx, Xxxxxxxxxx 00000, on the one hand
and NTN Communications, Inc. ("NTN"), Buzztime, Inc. ("Buzztime") and NTN
Wireless Communications, Inc. ("Wireless") on the other hand, whose chief
executive offices are located at the above address ("Borrower's Address"). NTN,
Buzztime and Wireless shall hereinafter be jointly and severally referred to as
Borrower. This Eighth Amendment shall for all purposes be deemed to be a part of
the Loan and Security Agreement, as amended ("Agreement") and the Schedule to
the Agreement, as amended ("Schedule"), and the same is an integral part of the
Agreement and Schedule.
CONSENT AND APPROVAL
1. Coast hereby consents and approves Borrower's request to downstream to
Wireless up to a total amount at any one time outstanding Seven Hundred Fifty
Thousand Dollars ($750,000.00).
AMENDMENTS
1. Section 8.1 (9) of the Schedule is hereby amended to read as follows:
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" Notwithstanding the preceding, Borrower may downstream up to a total
amount at any one time outstanding of Seven Hundred Fifty Thousand Dollars
($750,000.00) to its Affiliate, NTN Wireless Communications, Inc."
CONDITIONS PRECEDENT TO EFFECTIVENESS OF EIGHTH AMENDMENT
1. Borrowers shall execute and deliver this Eighth Amendment to Coast.
EXCEPT AS EXPRESSLY PROVIDED FOR HEREIN, ALL OF THE TERMS AND CONDITIONS OF
THE LOAN AND SECURITY AGREEMENT AND ALL OTHER DOCUMENTS AND AGREEMENTS
BETWEEN COAST AND BORROWER SHALL CONTINUE IN FULL FORCE AND EFFECT AND THE
SAME ARE HEREBY RATIFIED AND AFFIRMED. THE WAIVERS AND CONSENTS CONTAINED
HEREIN DO NOT CONSTITUTE A WAIVER OR CONSENT OF ANY OTHER PROVISION OR TERM
OF THE LOAN AND SECURITYAGREEMENT NOR ANY RELATED DOCUMENT OR AGREEMENT,
NOR AN AGREEMENT TO WAIVE OR CONSENT TO ANY TERM OR CONDITION OF THE LOAN
AND SECURITY AGREEMENT NOR ANY RELATED DOCUMENT OR AGREEMENT IN THE FUTURE.
Borrower:
NTN COMMUNICATIONS, INC.
By:_______________________________
Xxxxxxx X. Xxxxxx, CEO
And by:____________________________
Xxxxx X. Xxxxxx, CFO
Borrower:
BUZZTIME ENTERTAINMENT, INC.
By:_______________________________
V. Xxxxxx Xxx, President
And by:____________________________
Xxxxx X. Xxxxxx, CFO
Signatures continue on separate page 3
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Borrower:
NTN WIRELESS COMMUNICATIONS, INC.
By:__________________________
Name: Xxxx xx Xxxxxx, President
And by:_______________________
Name: Xxxxx Xxxxx, Secretary
Coast:
COAST BUSINESS CREDIT, a division of Southern Pacific Bank
By:_______________________________
Xxxxxxx Xxxxxx, Vice President
Continued Signature page to Eighth Amendment to Loan and Security Agreement
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