ADVANCE SCHEDULE No. 05
Exhibit 10.43
ADVANCE
SCHEDULE
No.
05
XXXXXXXXXXX.XXX,
INC.
Date:
April 11, 2008
This
Advance Schedule (the
"Schedule"),
is issued pursuant to and is subject to all
terms
and conditions of the Credit Card Receivables Advance Agreement, dated as
of November 7, 2007 (as amended from time to time in accordance with its terms,
the "Master
Agreement") between CREDIT CASH, LLC (the "Lender")
and XXXXXXXXXXX.XXX, INC. (the "Merchant").
Capitalized terms used and not defined in
this Schedule have the meanings given to them in the Master
Agreement.
The
Merchant has requested that the Lender make an Advance to the Merchant, and the
Lender is willing to make such Advance,
in each case subject to the following
terms and conditions:
|
1.
|
The
AdvanceAmount
is: $400,000.00.
|
|
2.
|
The
Collection
Amount of this Advance
Schedule No. 05 is $428,000.00.
The outstanding
balance of Advance Schedule No. 04 as of April 11, 2008 is in the
amount
of $216,601.92.
The proceeds of the Advance Amount are to be used to (a) payoff in full
the outstanding balance of Advance Schedule No. 4 and
(b) remit the remaining
balance of the Advance
Amount to Merchant.
|
|
3.
|
The
Collection Date for this Advance Schedule No. 5 is
November 11, 2008 [insert date that is 7 months from the funding
date]
|
|
4.
|
The
Collection Account Bank and Collection Account are as
follows:
|
| Bank name: | North Fork Bank |
| 0000 Xxxxxxxx | |
|
New
York, NY 10018
|
|
| Routing/ABA Number: | 000000000 |
| Account Name to credit: | XxxxxXxxxxx.xxx, Inc. |
| Account Number to credit: | 2744061595 |
|
5.
|
The
Merchant agrees to repay the Collection Amount (plus all
Costs
and Expenses)
by remitting (or causing to be remitted) to the Lender, on or before the
Collection Date, the Collection Amount, by authorizing Lender to retain
the Payment Percentage from the Collection Account as provided in the
Master
Agreement.
If the Collection Amount is remitted
to the Lender before the Collection Collection Date, the Merchant shall
not be entitled to any refund or other compensation. If the
Collection
Amount is not omitted
to the
Lender by the Collection Date, Merchant may be
'subject to extension fees as set forth in the Master
Agreement.
|
|
6.
|
The
Merchant hereby reaffirms and
further grants to the Lender a security interest in the Collection
Account and
Collateral (including, without limitation, all Credit Card Receivables
and/or proceeds thereof at any time deposited
therein) to secure the Merchant's
obligation
to pay the Collection
Amount (plus all Costs and
Expenses) and to secure all
other existing and future obligations
of the Merchant to the
Lender.
|
|
7.
|
The Merchant understands
and agrees that all Advances by Xxxxxx to Merchant under the Master
Agreement, this Advance Schedule, and under any
other Related
Agreements constitute one loan, and all indebtedness and obligations of
Merchant to Lender under the Master Agreement,
this Advance Schedule and the Related Agreements, present and future,
constitute
one general obligation secured by the Collateral Merchant further
understands
that
they
shalt be
jointly
and severally liable for payment of all of the obligations owing to Lender
under all Advance Schedules, the
Master Agreement and the
Related
Agreements and under any other agreement between Lender and any
Merchant.
|
|
8.
|
The
Merchant reaffirm all
terms, conditions and agreements set forth in the
Master
Agreement and any Related Agreements and further represents
and warrants to the Lender
that all representations and warranties made by the Merchant in
the Master Agreement and any Related
Agreements entered into on or before the date hereof are true
and correct on the date hereof as if made on the date
hereof.
|
This
Schedule may be executed in counterparts. Each counterpart shall be deemed an
original but all of which together shall constitute one and the same instrument.
An executed facsimile of this Schedule shall be
deemed to be a valid and binding agreement between the parties
hereto.
Agreed
to:
| CREDIT CASH, LLC | XXXXXXXXXXX.XXX. INC. |
| By: /s/ Xxxx Xxxxxx | By: /s/ Xxxxxxxxxxx Xxxxxx |
| Name: Xxxx Xxxxxx | Name: Xxxxxxxxxxx Xxxxxx |
| Title: President | Title: President |
STATE
OF
NJ
)
)ss.:
COUNTY
OF XXXXXX
)
On
this 11th day
of April 2008 before me personally appeared Xxxxxxxxxxx Xxxxxx, personally known to rue
or proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he/she
is the President of XXXXXXXXXXX.XXX,. INC., the corporation herein described and
that he/she executed the same in his/her capacity as an officer of
said corporation, and that he/she signed the instrument by order
of the board of directors of said corporation.
| /s/ Xxxxxxx Xxxxxxxxxx | |
| NOTARY PUBLIC | |
|
Xxxxxxx
Xxxxxxxxxx
Notary Public of New Jersey
Commission Expires:
4/11/13
|
