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COAST BUSINESS CREDIT(R)
SEVENTH 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 JULY 1, 2002
THIS SEVENTH AMENDMENT TO THE LOAN AND SECURITY AGREEMENT ("Seventh 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 Seventh 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 an additional One Hundred Thousand Dollars ($100,000.00),
thereby making the total amount at any one time outstanding that may be
downstreamed to Wireless up to Two Hundred Fifty Thousand Dollars
($250,000.00).
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AMENDMENTS
1. Section 8.1 (9) of the Schedule is hereby amended to add the following to
the end of the existing Section:
" Notwithstanding the preceding, Borrower may downstream up to a total
amount at any one time outstanding of Two Hundred Fifty Thousand Dollars
($250,000.00) to its Affiliate, NTN Wireless Communications, Inc.
CONDITIONS PRECEDENT TO EFFECTIVENESS OF SEVENTH AMENDMENT
1. Borrowers shall execute and deliver this Seventh Amendment to Coast.
2. Borrowers shall pay Coast an amendment fee, fully earned and payable upon
the execution hereof, in the amount of One Thousand Dollars ($1,000.00).
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:____________________________
Xxxxxxx Xxxxxx-Xxxxxx, Controller
Signatures continue on separate page 3
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Borrower:
BUZZTIME ENTERTAINMENT, INC.
By:_______________________________
V. Xxxxxx Xxx, President
And by:____________________________
Xxxxxxx Xxxxxx-Xxxxxx, Controller
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
Signature page to Seventh Amendment to Loan and Security Agreement
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