AMENDMENT # 1 TO CONTRACT OF SALE & SECURITY AGREEMENT between Northrim Funding Services, a Division of Northrim Bank & Tully’s Coffee Corporation DATED: November 9, 2006
Exhibit 10.13(b)
AMENDMENT # 1
TO CONTRACT OF SALE & SECURITY AGREEMENT between Northrim
Funding Services, a Division of Northrim Bank & Xxxxx’x Coffee Corporation
DATED: November 9, 2006
NFS/BANK COVENANTS:
Paragraph 49. as follows:
Subject to the terms and conditions of this Agreement, NFS/BANK agrees to fund against the purchase of Accounts Receivable hereunder an amount not to exceed the sum of ($5,000,000.00) Three Million and 00/100 or the Purchase Formula for the purchase of ALL of the Acceptable/Eligible Accounts, whichever is less.
Is replaced with:
Subject to the terms and conditions of this Agreement, NFS/BANK agrees to fund against the purchase of Accounts Receivable hereunder an amount not to exceed the sum of ($5,000,000.00) Five Million and 00/100 or the Purchase Formula for the purchase of ALL of the Acceptable/Eligible Accounts, whichever is less.
Paragraph 50. as follows:
This Agreement shall have an initial term ending September 30, 2007 unless terminated by either party giving not less than thirty (30) days prior written notice to the other party.
Is replaced with:
This Agreement shall have an initial term ending July 31, 2008 unless terminated by either party giving not less than thirty (30) days prior written notice to the other party.
| 000 000xx Xxxxxx X.X. Xxxxx 000, Xxxxxxxx, XX 00000 Telephone (000) 000-0000 Fax (000) 000-0000 |
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THIS AMENDMENT is effective and applicable to invoices purchased under the CONTRACT of SALE & SECURITY AGREEMENT of even date. All other terms, covenants and conditions will remain in effect and unchanged.
Executed this 25th day of June, 2007
At: Seattle, Washington
| Xxxxx’x Coffee Corporation | ||||||||
| By: | /s/ Xxxxxxxxxx X. Xxxxxx | Date: | 6/25/07 | |||||
| Xxxxxxxxxx X. Xxxxxx, Executive Vice President | ||||||||
Northrim Funding Services, a division of Northrim Bank
Accepted this 25th day of June, 2007, at Bellevue, WA.
| By: | /s/ Xxxxxx X. Xxxxxx | |
| Xxxxxx X. Xxxxxx, Senior Vice President | ||
| 000 000xx Xxxxxx X.X. Xxxxx 000, Xxxxxxxx, XX 00000 Telephone (000) 000-0000 Fax (000) 000-0000 |
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