FIRST AMENDMENT, dated July 19, 2000 (the "First Amendment"), to
EQUITY LINE OF CREDIT AGREEMENT, dated as of June 14, 2000 (the "Agreement"), by
and between CALP II LIMITED PARTNERSHIP (the "Investor") and XXXXXXXX.XXX INC.
(the "Company"). If not otherwise defined, capitalized terms used herein have
the meanings ascribed to them in the Agreement.
WHEREAS, the parties hereto desire to amend the Agreement to provide
for a minimum monthly Advance during the Commitment Period.
NOW, THEREFORE, the parties hereto hereby agree as follows:
1.1. Advances. Section 2.2(a) shall be amended by adding the
following sentence at the end thereof:
Notwithstanding any limitation imposed by the Maximum Advance
Amount, the Company may request an Advance of any amount up to and including
$350,000, net of the ten percent commission payable to Xxxxxxxx Xxxxxxxxx & Co.,
Ltd. and The May Xxxxx Group, Inc., in each Advance Notice delivered to the
Investor.
1.2. Other Provisions. All other provisions of the Agreement shall
remain in full force and effect without change.
1.3. Counterparts. This First Amendment may be executed in two or
more identical counterparts, all of which shall be considered one and the same
agreement and shall become effective when counterparts have been signed by each
party and delivered to the other party.
IN WITNESS WHEREOF, this First Amendment has been duly executed and
delivered by a duly authorized officer of each party hereto as of the date first
above written.
CALP II LIMITED PARTNERSHIP
/s/ X. XxXxxxxx
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By: X. XxXxxxxx
(On Behalf of VMH Investment
Management Group)
XXXXXXXX.XXX INC.
By: /s/ Xxxxxxx Xxxxxxxxx
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Name: Xxxxxxx Xxxxxxxxx
Title: Chief Operating Officer
