Letterhead of ComVest Capital, LLC]
[Letterhead
of ComVest Capital, LLC]
May 19,
2009
0000
Xxxxx Xxxxx, Xxxxx 000
Chalfont,
PA 18914
Re: Waiver
Letter
Dear
Sirs:
Reference
is made to the Revolving Credit and Term Loan Agreement dated as of June 20,
2008 (the “Agreement”) by and
between ComVest Capital, LLC (the “Lender”) and
ClearPoint Business Resources, Inc. (the “Borrower”).
On the
date hereof, there exist Events of Default under the Agreement consisting of the
failure to pay certain principal installments required under the Term Note
issued pursuant to the Agreement. The Lender hereby waives such
Events of Default, provided that the
Lender reserves the right to collect, at a later time (but not later than the
maturity date under the Agreement), the increased interest that the Lender was
permitted to charge during the continuance of such Events of
Default.
The
foregoing waiver is effective only in this specific instance, and is not to be
construed as a waiver of (or agreement to waive) any other Event of Default
which may exist or arise.
|
Very
truly yours,
|
|||
|
COMVEST
CAPITAL, LLC
|
|||
|
By:
|
/s/ Xxxxxx Xxxxxxx
|
||
|
Name: Xxxxxx
Xxxxxxx
|
|||
|
Title: SVP
|
|||
Acknowledged,
Confirmed and Agreed To:
|
By:
|
/s/
Xxxx X. Xxxxxxxx
|
|
|
Name: Xxxx
X. Xxxxxxxx
|
||
|
Title: CFO
|
