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Exhibit 10.9.3
[GREYROCK CAPITAL LOGO]
AMENDMENT TO LOAN DOCUMENTS
Borrower: FirePond, Inc. (formerly CWC Incorporated)
Address: 000 Xxxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, XX 00000
Date: September 29, 1999
THIS AMENDMENT TO LOAN DOCUMENTS is entered into between Greyrock
Capital, a Division of Banc of America Commercial Finance Corporation (formerly
Greyrock Business Credit, a Division of NationsCredit Commercial Corporation)
("Greyrock"), whose address is 00000 Xxxxxxxx Xxxx., Xxxxx 0000, Xxx Xxxxxxx, XX
00000 and the borrower named above ("Borrower").
The Parties agree to amend the Loan and Security Agreement between
them, dated July 31, 1998 (as previously amended, the "Loan Agreement"), as
follows, effective as of the date hereof. (This Amendment, the Loan Agreement,
any prior written amendments to said agreements signed by Greyrock and Borrower,
and all other written documents and agreements between Greyrock and Borrower are
referred to herein collectively as the "Loan Documents". Capitalized terms used
but not defined in this Amendment, shall have the meanings set forth in the Loan
Agreement.)
1. Maximum Credit. Section 1 of the Schedule is hereby amended in its
entirety to read as follows:
"1. CREDIT LIMIT
(Section 1.1): An amount not to exceed the lesser of: (a)
$7,000,000 at any one time outstanding; or
(b) the sum of (i) and (ii) below:
(i) the lesser of (A) $5,000,000, or (B)
80% of the amount of Borrower's
Eligible Receivables (as defined in
Section 8 above); plus
(ii) The unpaid principal balance of the
Term Loan (defined below) outstanding
from time to time.
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TERM LOAN. Effective September 29,
1999, $2,000,000 of the Loans
outstanding on such date shall be
converted to a term loan (the "Term
Loan"). The entire unpaid principal
balance of the Term Loan and all other
Obligations shall be due and payable
on termination of this Agreement.
Accrued interest on the Term Loan
shall be paid monthly on the last day
of each month as provided in Section
1.2 above. The Term Loan may not be
repaid and reborrowed."
2. Extension. The date "October 31, 1999" in Section 4 of the Schedule
is hereby replaced by the date "October 31, 2000", so that such section reads as
follows:
"4. MATURITY DATE
(Section 6.1) October 31, 2000, subject to automatic
renewal as provided in Section 6.1 above,
and early termination as provided in Section
6.2 above."
3. Notice of Termination. Pursuant to that certain Amendment to Loan
Documents dated July 8, 1999, Section 6.1 of the Loan Agreement was amended in
its entirety to read as follows:
"6.1 Maturity Date. This Agreement shall continue in effect
until the maturity date set forth on the Schedule (the Maturity Date);
provided that the Maturity Date shall automatically be extended, and
this Agreement shall automatically and continuously renew, for
successive additional terms of one year each, unless one party gives
written notice to the other, not less than thirty days prior to the
next Maturity Date, that such party elects to terminate this Agreement
effective on the next Maturity Date."
This will confirm that the word "thirty" in Section 6.1 of the Loan
Agreement is hereby replaced by the word "sixty", so that such section is hereby
amended in its entirety to read as follows:
"6.1 Maturity Date. This Agreement shall continue in effect
until the maturity date set forth on the Schedule (the Maturity Date);
provided that the Maturity Date shall automatically be extended, and
this Agreement shall automatically and continuously renew, for
successive additional terms of one year each, unless one party gives
written notice to the other, not less than sixty days prior to the next
Maturity Date, that such party elects to terminate this Agreement
effective on the next Maturity Date."
4. Fee. In consideration for Greyrock entering into this Amendment,
Borrower shall concurrently pay Greyrock a fee in the amount of $20,000, which
shall be
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non-refundable and in addition to all interest and other fees payable to
Greyrock under the Loan Documents. Greyrock is authorized to charge said fee to
Borrower's loan account.
5. Representations True. Borrower represents and warrants to Greyrock
that all representations and warranties set forth in the Loan Agreement, as
amended hereby, are true and correct.
6. General Provisions. This Amendment, the Loan Agreement, and the
other Loan Documents set forth in full all of the representations and agreements
of the parties with respect to the subject matter hereof and supersede all prior
discussions, representations, agreements and understandings between the parties
with respect to the subject hereof. Except as herein expressly amended, all of
the terms and provisions of the Loan Agreement and the other Loan Documents
shall continue in full force and effect and the same are hereby ratified and
confirmed.
Borrower: Greyrock:
FIREPOND, INC. GREYROCK CAPITAL,
a Division of Banc of America
Commercial Finance Corporation
By /s/ Xxxx XxXxxxxxx CFO
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President or Vice President By
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By /s/ Xxxxxx Xxxxxxxx Title
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Secretary or Ass't Secretary
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