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EXHIBIT 10.2
FIRST AMENDMENT
TO
LOAN AND PLEDGE AGREEMENT
THIS FIRST AMENDMENT TO THE LOAN AND PLEDGE AGREEMENT (this
"AMENDMENT") is made as of February 1, 2001 by and between World Commerce
Online, Inc., a Delaware corporation (the "COMPANY"), and Interprise Technology
Partners LP (the "LENDER").
R E C I T A L S:
WHEREAS, for value received, the Company and the Lender executed a Loan
and Pledge Agreement dated as of January 3, 2001 (the "LOAN DATE") in the amount
of Four Hundred Fifty Thousand Dollars ($450,000) (the "LOAN AGREEMENT"); and
WHEREAS, the Company and the Lender agree to amend and modify the Loan
Agreement as of the Loan Date to clarify certain provisions;
NOW, THEREFORE, in consideration of the mutual promises contained
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereby agree as follows:
1. Amendment to the Loan Agreement. The ", or" shall be deleted
from the end of Section 3.5(i), and the following shall be added:
"or under substantially similar terms as those set forth in
this Agreement, or"
2. Effective Time of Amendment. The amendment and modification to
the Loan Agreement set forth in Section 1 above shall be retroactively effective
as of the Loan Date.
3. Non-Modification. Except to the extent amended and modified
hereby, all terms, provisions and conditions of the Loan Agreement shall
continue in full force and effect and shall remain unmodified and enforceable.
IN WITNESS WHEREOF, the parties have executed this Amendment effective
as of the Loan Date.
WORLD COMMERCE ONLINE, INC.,
as Borrower
By: /s/ Xxxx X. Xxxxxx
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Xxxx X. Xxxxxx, Chief Financial Officer
INTERPRISE TECHNOLOGY PARTNERS LP,
as Lender
By: /s/ XX Xxxxxxxxx
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Xxxx Xxxxxx Xxxxxxxxx, Principal
