EXHIBIT 10.22
CHANGE IN TERMS AGREEMENT
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Principal Loan Date Maturity LOAN NO CALL I COIL Account Officer
$.750,000.00 02-01-2006 00-0000000 0000011001 4021326 E0100617967 MRROR Initials
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References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular
loan or item
Any item above containing "***" has been omitted due to text length limitations
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BORROWER: MARKETING WORLDWIDE CORPORATION LENDER: KEYBANK NATIONAL ASSOCIATION
0000 XXXXX Xxxxxxxx Xx XX-XX-Xxx Xxxxx
XXXXXX, XX 000000000 000 XXXXX XXXX XXXXXX
XXX XXXXX, XX 00000
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PRINCIPAL AMOUNT: $750,000.00 INITIAL RATE: 7.000% DATE OF AGREEMENT: FEBRUARY 1, 2006
DESCRIPTION OF EXISTING INDEBTEDNESS Obligor No. 100617967
Obligation No 11001
Original Promissory Note dated March 1, 2004, in the principal amount of
$750,000 00, including any and all amendments thereto
DESCRIPTION OF CHANGE IN TERMS. The maturity date of the Loan is hereby extended
to 03/01/2007
CONTINUING VALIDITY. Except as expressly changed by this Agreement, the terms of
the original obligation or obligations, including all agreements evidenced or
securing the obligation(shall remain unchanged and in full force and effect
Consent by Lender to this Agreement does not waive Lender's right to strict
performance of the obligations) as changed, nor obligate Lender to make any
future change in terms Nothing in this Agreement will constitute a satisfaction
of the obligation(s) It is the intention of Lender to retain as liable parties
all makers and endorsers of the original obligations), including accommodation
parties, unless a party is expressly released by Lender in writing. Any maker or
endorser, including accommodation makers, will not be released by virtue of this
Agreement. If any person who signed the original obligation does not sign this
Agreement below, then all persons signing below acknowledge that this Agreement
is given conditionally, based on the representation to Lender that the
non-signing party consents to the changes and provisions of this Agreement or
otherwise will not be released by it This waiver applies not only to any initial
extension, modification or release, but also to all such subsequent actions
PRIOR TO SIGNING THIS AGREEMENT. BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS
OF THIS AGREEMENT. BORROWER AGREES TO THE TERMS OF THE AGREEMENT.
CHANGE IN TERMS SIGNERS.
MARKETING WORLDWIDE CORPORATION
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, C0O of Marketing Worldwide
Corporation
JCMD PROPERTIES, LLC, LLC GUARANTOR
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, Member of JCMD PROPERTIES. LLC.
LLC GUARANTOR
/s/ Xxxxx X. Xxxxxx /s/ Xxxxxxx Winzkowski
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Xxxxx X. Xxxxxx, Individual Guarantor Xxxxxxx Winzkowski, Individual Guarantor
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