(Company letterhead)
July 24, 2000
Xx. Xxxx Xxxxxxx
Patriot Bank Corp. and Patriot Bank as jointly and severally
liable Co-Lessees ("Patriot")
High and Hanover Streets
Pottstown, PA 19464
Re: Master Equipment Lease Agreement 200273, Master Equipment Lease Agreement
Schedule 00010 ("Agreement")
Dear Xx. Xxxxxxx:
We are in receipt of your request to sub-lease some or all of the equipment
currently covered under the above referenced Agreement to Universal Money
Centers, Inc. ("UMC"). As you know, pursuant to section 24 of the Master
Equipment Lease Agreement, our consent is required for such an arrangement.
With this letter Newcourt Communications Finance Corporation, as Lessor, hereby
consents to this request to sub-lease provided Patriot understands and
acknowledges, by signing below, that this consent shall not relieve the Patriot
of its duties, liabilities and obligations under this Agreement, and that
Patriot shall be remain solely liable under this Agreement. Patriot also agrees
not to assert against Newcourt any defense, setoff, recoupment, claim or
counterclaim which the Patriot may have against UMC with respect to the
Agreement, Equipment and/or this consent to sub-lease. Patriot shall not be
relieved of its liability under the Agreement because of any agreement, release,
compromise or novation which may be made by Newcourt with UMC or any other party
with respect to the Agreement, Equipment and/or this consent to sub-lease.
Yours truly, Patriot Bank Corp. and Patriot Bank as
jointly and severally liable Co-Lessees
By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxx Xxxxxxx
------------------------ ----------------------------------
Xxxxx X. Xxxxxx Authorized Signature
Xxxx Xxxxxxx Deposit Services Team
Leader
Print Name & Title
7/26/00
---------------------------------------
Date
