FIRST AMENDMENT TO REVOLVING LINE OF CREDIT AGREEMENT
FIRST
AMENDMENT TO REVOLVING LINE OF CREDIT AGREEMENT
dated
as
of December 22, 2006
Reference
is made to that revolving line of credit agreement and revolving promissory
note
attached as Exhibit A (the “Note”) dated July 1, 2006 (collectively the
“Agreement”) between CenterStaging Corp., a Delaware corporation, (the
“Borrower”) and Xxxxxx Xxxxxxx (the “Lender”). All terms defined in the
Agreement shall have the same meaning in this First Amendment, except as
otherwise provided herein.
NOW,
THEREFORE, Borrower and Lender hereby agree to amend the Agreement as
follows:
1. Section
1.1 of the Agreement and the Note is hereby revised such that the aggregate
of
all advances outstanding shall not at any time exceed Five Hundred Thousand
Dollars ($500,000).
2. The
fixed
annual interest rate of the Note is hereby revised and shall be a variable
annual interest rate equal to the “prime rate, plus four percent (4%),
retroactive to the date of the first advance.
3. Except
as
expressly modified herein, the Agreement is hereby ratified and shall remain
in
full force and effect.
If
Lender
agrees with the foregoing, please execute this First Amendment in the space
below.
BORROWER
/s/
Xxxxxx Xxxxxxxxx
Xxxxxx
Xxxxxxxxxx
CFO,
CenterStaging Corp.
LENDER
/s/
Xxxxxx Xxxxxxx
Xxxxxx
Xxxxxxx
Chairman
of the Board of Directors
FIRST
AMENDMENT TO REVOLVING LINE OF CREDIT AGREEMENT
dated
as
of December 22, 2006
Reference
is made to that revolving line of credit agreement and revolving promissory
note
attached as Exhibit A (the “Note”) dated July 1, 2006 (collectively the
“Agreement”) between CenterStaging Corp., a Delaware corporation, (the
“Borrower”) and Xxxxxx Xxxxxxxxxx (the “Lender”). All terms defined in the
Agreement shall have the same meaning in this First Amendment, except as
otherwise provided herein.
NOW,
THEREFORE, Borrower and Lender hereby agree to amend the Agreement as
follows:
1. Section
1.1 of the Agreement and the Note is hereby revised such that the aggregate
of
all advances outstanding shall not at any time exceed Five Hundred Thousand
Dollars ($500,000).
2. The
fixed
annual interest rate of the Note is hereby revised and shall be a variable
annual interest rate equal to the “prime rate” plus four percent (4%),
retroactive to the date of the first advance.
3. Except
as
expressly modified herein, the Agreement is hereby ratified and shall remain
in
full force and effect.
If
Lender
agrees with the foregoing, please execute this First Amendment in the space
below.
BORROWER
/s/
Xxxxx Xxxxxx
Xxxxx
Xxxxxx
CEO,
CenterStaging Corp.
LENDER
/s/
Xxxxxx Xxxxxxxxxx
Xxxxxx
Xxxxxxxxxx
CFO,
CenterStaging Corp.
FIRST
AMENDMENT TO REVOLVING LINE OF CREDIT AGREEMENT
dated
as
of December 22, 2006
Reference
is made to that revolving line of credit agreement and revolving promissory
note
attached as Exhibit A (the “Note”) dated July 1, 2006 (collectively the
“Agreement”) between CenterStaging Corp., a Delaware corporation, (the
“Borrower”) and Xxxxx Xxxxxx (the “Lender”). All terms defined in the Agreement
shall have the same meaning in this First Amendment, except as otherwise
provided herein.
NOW,
THEREFORE, Borrower and Lender hereby agree to amend the Agreement as
follows:
1. Section
1.1 of the Agreement and the Note is hereby revised such that the aggregate
of
all advances outstanding shall not at any time exceed Five Hundred Thousand
Dollars ($500,000).
2. The
fixed
annual interest rate of the Note is hereby revised and shall be a variable
annual interest rate equal to the “prime rate” plus four percent (4%),
retroactive to the date of the first advance.
3. Except
as
expressly modified herein, the Agreement is hereby ratified and shall remain
in
full force and effect.
If
Lender
agrees with the foregoing, please execute this First Amendment in the space
below.
BORROWER
/s/
Xxxxxx Xxxxxxxxxx
Xxxxxx
Xxxxxxxxxx
CFO,
CenterStaging Corp.
LENDER
/s/
Xxxxx Xxxxxx
Xxxxx
Xxxxxx
CEO,
CenterStaging Corp.
FIRST
AMENDMENT TO REVOLVING LINE OF CREDIT AGREEMENT
dated
as
of December 22, 2006
Reference
is made to that revolving line of credit agreement and revolving promissory
note
attached as Exhibit A (the “Note”) dated July 1, 2006 (collectively the
“Agreement”) between CenterStaging Corp., a Delaware corporation, (the
“Borrower”) and Jan Parent (the “Lender”). All terms defined in the Agreement
shall have the same meaning in this First Amendment, except as otherwise
provided herein.
NOW,
THEREFORE, Borrower and Lender hereby agree to amend the Agreement as
follows:
1. Section
1.1 of the Agreement and the Note is hereby revised such that the aggregate
of
all advances outstanding shall not at any time exceed Five Hundred Thousand
Dollars ($500,000).
2. The
fixed
annual interest rate of the Note is hereby revised and shall be a variable
annual interest rate equal to the “prime rate” plus four percent (4%),
retroactive to the date of the first advance.
3. Except
as
expressly modified herein, the Agreement is hereby ratified and shall remain
in
full force and effect.
If
Lender
agrees with the foregoing, please execute this First Amendment in the space
below.
BORROWER
/s/
Xxxxxx Xxxxxxxxxx
Xxxxxx
Xxxxxxxxxx
CFO,
CenterStaging Corp.
LENDER
/s/
Jan Parent
Jan
Parent
Senior
EVP, CenterStaging Corp.
