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EXHIBIT 99.1
Dated as of
September 20, 2001
Sunrise Technology International, Inc.
0000 Xxxx Xxxxxx Xxxxxx
Xxxxxxx, Xxxxxxxxxx 00000
Attn: Xx. Xxxx Xxxxxxx, Chairman, President, and CEO
Re: Sunrise Technology International, Inc. ("Borrower"); Xxxxx X.
Xxxxxx, an individual ("Guarantor"); and Silicon Valley Bank ("Bank").
Ladies and Gentlemen:
Reference is hereby made to that certain Loan and Security Agreement,
dated as of June 29, 2000, between Borrower and Bank, as amended by that certain
Loan Modification Agreement, dated September 20, 2000, the Extension and
Modification Agreement, dated June 22, 2001, the Amendment Number One to
Extension and Modification Agreement, dated August 3, 2001, the Extension Letter
Agreement, dated August 26, 2001 and the Extension Letter Agreement, dated as of
September 10, 2001 (as amended, the "Loan Agreement"). Capitalized terms used in
this letter agreement are defined in the Loan Agreement unless specifically
defined herein.
Pursuant to the September 10, 2001, Extension Letter Agreement, Borrower
is required to make a Second Extension Payment on or before September 21, 2001.
Borrower and Guarantor have requested that Bank extend the date on or before
which the Second Extension Payment must be paid to September 28, 2001. Bank has
agreed to the request of Borrower and Guarantor, subject to the terms of this
letter agreement.
1. EXTENSION OF DATE TO MAKE SECOND EXTENSION PAYMENT. Bank agrees
to extend the date on or before which the Second Extension Payment is due to
September 28, 2001.
2. COSTS AND EXPENSES. Borrower shall pay to Bank all of Bank's
out-of-pocket costs, expenses (including, without limitation, the fees and
expenses of its counsel), documentation fees, and other fees arising in
connection with the preparation, execution, and delivery of this letter.
3. MISCELLANEOUS. Except as specifically amended herein, all other
terms and provisions of the Loan Agreement, as amended from time to time, shall
remain in full force and effect.
Very truly yours,
SILICON VALLEY BANK
By:
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Name:
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Title:
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Agreed and Accepted as
of September 20, 2001
BORROWER:
SUNRISE TECHNOLOGY INTERNATIONAL, INC.
By:
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Name:
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Title:
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GUARANTOR:
Guarantor hereby confirms that his guaranty
remains in full force and effect.
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XXXXX X. XXXXXX
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