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COAST BUSINESS CREDIT(R)
SIXTH 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: MAY 1, 2002
THIS SIXTH AMENDMENT TO THE LOAN AND SECURITY AGREEMENT ("Sixth 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 collectively referred to as Borrower.
This Sixth 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 ("Schedule"), and the same is an integral part of the Agreement.
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 outstanding that may be downstreamed to
Wireless up to Two Hundred Thousand Dollars ($200,000.00). However, Borrower
shall reduce the amount downstreamed to Wireless to no more than One Hundred
Seventy-five Thousand Dollars ($175,000.00) on or before May 31, 2002, and
further reduce the amount downstreamed to Wireless to no more than One
Hundred Fifty Thousand Dollars ($150,000.00) on or before July 1, 2002 and
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at all times during the Term thereafter. The maximum amount that may be
downstreamed and the reductions thereto, do not include the one time payment
to Bankers Capital in an amount not to exceed Fifty-five Thousand Two
Hundred Forty-seven Dollars and Seventy-seven Cents ($55,247.77).
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 Two Hundred Thousand Dollars ($200,000.00) to its
Affiliate, NTN Wireless Communications, Inc., provided however that such
amount shall be reduced to One Hundred Seventy-five Thousand Dollars
($175,000.00) on or before May 31, 2002, and further reduced to One Hundred
Fifty Thousand Dollars ($150,000.00) on or before June 30, 2002 and at all
times during the Term thereafter."
CONDITIONS PRECEDENT TO EFFECTIVENESS OF SIXTH AMENDMENT
1. Borrower's shall execute and deliver this Sixth Amendment to Coast.
2. Borrower shall pay Coast an amendment fee, fully earned and payable upon the
execution hereof, in the amount of Two Thousand Dollars ($2,000.00).
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 Sixth Amendment to Loan and Security Agreement
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