EXHIBIT 10.3
February 27, 2002
Hanseatic Americas LDC
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Environmental Opportunities Fund II LP
Environmental Opportunities Fund II
(Institutional) LP
c/o Sanders Xxxxxx Xxxxxx
3100 Xxxxx Tower
000 Xxxxxx Xxxxxx
Xxxxxxx, Xxxxx 00000
Dear Sirs:
Reference is hereby made to:
(i) the Loan Agreement dated as of August 7, 2000, as amended by
Amendment No. 1 dated as of November 10, 2000, Amendment No. 2
dated November 30, 2000 and Amendment No. 3 dated the date
hereof (the foregoing, as from time to time further amended,
collectively referred to as the "Amended Loan Agreement")
entered into among us; and
(ii) the Supplemental Letter dated August 7, 2000 (the
"Supplemental Letter") executed by you and the undersigned,
together with the concurring shareholders executing this
letter (a copy of which is annexed hereto).
Capitalized terms utilized herein and not otherwise defined herein shall have
the meanings assigned to them in the Amended Loan Agreement.
This letter shall confirm that the Supplemental Letter remains in full
force and effect, and that all references therein to the Loan Agreement shall be
deemed references to the Amended Loan Agreement.
Very truly yours,
SYSTEMONE TECHNOLOGIES, INC.
By /s/ XXXX X. XXXXXX
-------------------------------------
Xxxx X. Xxxxxx
Chief Executive Officer
AGREED:
ENVIRONMENTAL OPPORTUNITIES FUND II, L.P. HANSEATIC AMERICAS LDC
ENVIRONMENTAL OPPORTUNITIES FUND II
(INSTITUTIONAL), L.P. By: Hanseatic Corporation
By: Fund II Mgt. Co., LLC By: /s/ XXXX X. XXXXXXXXX
------------------------
General Partner Xxxx X. Xxxxxxxxx
President
By: /s/ XXXXXXX X. XXXXX
----------------------------
Xxxxxxx X. Xxxxx
Chief Investment Officer
The undersigned concurring shareholders agree to the foregoing:
/s/ XXXXXX X. XXXXXX
------------------------------------
Xxxxxx X. Xxxxxx
/s/ XXXX X. XXXXXX
------------------------------------
Xxxx X. Xxxxxx
ENVIRONMENTAL OPPORTUNITIES FUND, L.P.
ENVIRONMENTAL OPPORTUNITIES FUND (CAYMAN), L.P.
By: Environmental Opportunities Management Co., LLC
General Partner
By:/s/ XXXXX XXXXXXX
-------------------------
Xxxxx XxXxxxx
Manager
