EXHIBIT 10.22.3
MODIFICATION TO SECURITY AND LOAN AGREEMENT ("Security and Loan Agreement")
DATED NOVEMBER 20, 1995, BETWEEN AMERIGON, INC. (BORROWER) AND IMPERIAL BANK
AND THE ADDENDUM THERETO (Collectively, THE SECURITY AND LOAN AGREEMENT AND
THE ADDENDUM ARE REFERRED TO AS THE "AGREEMENT").
Effective June 26, 1996, the Agreement is hereby amended to include the
following:
- Late Charges. If any installment payment, interest payment, principal
payment or principal balance due hereunder is delinquent ten (10) or more
days, Borrower agrees to pay Bank a late charge in the amount of 5% of the
payment so due and unpaid, in addition to the payment; but nothing in this
paragraph is to be construed as any obligation on the part of the Bank to
accept payment of any payment past due or less than the total unpaid
principal balance after maturity. All payments shall be applied first to any
late charges owing, then to interest and the remainder, if any, to principal.
- The Maturity of the Agreement shall be extended through September 30, 1996.
- Except as provided above, the Agreement remains unchanged.
- This Modification is effective as of June 26, 1996, and the parties hereby
confirm that the Agreement as modified is in full force and effect.
AMERIGON, INC. "BORROWER"
By: /s/ R. Xxxx Xxxxxx, Jr.
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R. Xxxx Xxxxxx, Jr., Vice President
IMPERIAL BANK
By: /s/ Xxxxx Xxx
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Xxxxx Xxx, Senior Vice President
