Exhibit 10.8
SECOND AMENDMENT TO LOAN AGREEMENT
THIS SECOND AMENDMENT is made as of the 10th day of February, 1998, by
and between XXXXXXX X. XXXXX ("Lender") and ACCESS SOLUTIONS INTERNATIONAL,
INC., a Delaware corporation ("Borrower").
W I T N E S S E T H T H A T:
WHEREAS, Lender and Borrower are parties to a certain letter agreement
dated December 30, 1997 ("Loan Agreement") which Loan Agreement is incorporated
by reference herein and made a part hereof, and pursuant to which the Lender
agreed to loan to the Borrower the maximum principal sum of $200,000; and
WHEREAS, Borrower and Lender executed a First Amendment to Loan Agreement
dated as of January 27, 1998, pursuant to which the maximum principal amount
available for borrowing under the Loan Agreement was increased to $290,000, the
maturity date for repayment was extended, and additional collateral was granted
to Lender; and
WHEREAS, the parties desire to further amend the Loan Agreement to increase
the maximum principal amount available for borrowing under the Loan Agreement.
NOW, THEREFORE, for good and valuable consideration, the receipt of which
is hereby acknowledged, the parties hereto agree as follows:
1. INCREASE IN AVAILABILITY. The maximum principal amount available for
borrowing under the Loan Agreement is being increased from $290,000 to $330,000.
Therefore, the first sentence of the Loan Agreement is amended to read as
follows:
"This letter is written to set forth our agreement whereby
XXXXXXX X. XXXXX ("Lender"), will lend to ACCESS SOLUTIONS
INTERNATIONAL, INC., a Delaware corporation ("Borrower"),
the maximum principal sum of Three Hundred Thirty Thousand
Dollars ($330,000) (the "Loan")."
2. MISCELLANEOUS. Except as modified and amended hereby, the Loan Agreement
shall remain in full force and effect and is in all other respects ratified and
confirmed.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement
to be duly executed as of the day and year first above written.
/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
ACCESS SOLUTIONS INTERNATIONAL, INC.
BY: /s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
President and CEO
