ALLONGE TO REVOLVING LINE OF CREDIT NOTE
Exhibit 4.5.2
ALLONGE TO REVOLVING LINE OF CREDIT NOTE
THIS ALLONGE TO REVOLVING LINE OF CREDIT NOTE (the “Allonge”) made and entered into as of the 27th day of November 2013, between Commerce Bank & Trust Company, a Massachusetts trust company with a principal place of business at 000 Xxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxxxxxx (hereinafter “Lender “) and Paylocity Corporation, 0000 Xxxxx Xxxxx Xxxx, Xxxxxxxxx Xxxxxxx, Xxxxxxxx 00000 (hereinafter “Borrower “) is firmly affixed to and made a part of a certain Revolving Line of Credit Note of the Borrower payable to the order of the Lender dated as of May 5, 2009 (hereinafter “Revolving Line of Credit Note “) in the original principal amount of Two Million Five Hundred Thousand and 00/100s Dollars ($2,500,000.00), as restated March 9, 2011 (hereinafter “Note”).
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, the Borrower and Lender hereby agree that the Note is hereby amended as follows:
1. As of the date of this Allonge, the principal amount of the Note will be increased from Two Million Five Hundred Thousand and 00/100s Dollars ($2,500,000.00) to Three Million Five Hundred Thousand and 00/100s Dollars (S3,500,000.00).
2. The stated maturity date of the Note is hereby extended to December 31, 2015 so that, if not sooner paid, all outstanding principal of Note and accrued and unpaid interest thereon shall be paid to the Lender on December 31, 2015.
3. All references in the Note and any other Instrument or document delivered in connection therewith to the “Note” or “Revolving Line of Credit Note” shall be deemed to mean the Note as amended by this Allonge.
As hereby amended, the Note is hereby ratified and confirmed in all respects, and all terms and provisions of the Note not amended hereby shall remain in full force and effect.
WITNESS THE EXECUTION HEREOF, as an instrument under seal as of the date first set forth above.
|
|
|
Paylocity Corporation |
|
|
|
|
|
|
|
|
|
/s/Xxx Xxxxxx |
|
/s/Xxxxx XxXxxxx |
|
Xxx Xxxxxx, Witness |
|
Xxxxx XxXxxxx, Chief Financial Officer |
|
|
|
|
|
|
|
|
|
Guarantors |
|
|
|
|
|
Paylocity Management Holdings, LLC |
|
|
|
|
|
|
|
|
|
/s/Xxx Xxxxxx |
|
/s/Xxxxxx X. Xxxxxxxx |
|
Xxx Xxxxxx, Witness |
|
Xxxxxx X. Xxxxxxxx, Manager |
|
|
|
|
|
|
|
|
|
/s/Xxx Xxxxxx |
|
/s/Xxxxxx X. Xxxxxxxx |
|
Xxx Xxxxxx, Witness |
|
Xxxxxx X. Xxxxxxxx, Individually |
|
|
|
|
|
|
|
|
|
Commerce Bank & Trust Company |
|
|
|
|
|
|
|
|
|
|
|
/s/Xxxxx X. Xxxxxxxx |
|
|
|
Xxxxx X. Xxxxxxxx, Senior Vice President |
|
|
