NBD Bank 701 First National Building Detroit, Michigan 48226 Phone 3 13-225-4378 FAX 313-962-2326 Mary Lu D. Cramer Vice President NBD Business Finance November 1, 1996 Data Systems Network Corporation 34705 W. Twelve Mile Road Suite 300 Farmington...Business Financing Agreement • November 29th, 1996 • Data Systems Network Corp • Services-computer integrated systems design
Gentlemen: This letter will constitute an amendment to our Restated Business Financing Agreement-Secured Credit Agreement (Accounts Receivable and Inventory) dated as of June 30, 1992 and amended by that certain letter agreement dated February 1, 1995. Paragraph 2 reads, in part, as follows: "...Lender, in its sole discretion, will lend to Borrower, on the terms described in this Agreement, up to the principal sum of- (a) up to 85% of the net amount of "eligible" receivables (as determined in accordance with Paragraph 9 below); and (b) up to 25% of the lesser of the cost or market value, or whatever other reasonable valuation is set by Lender, of "eligible" Inventory (as determined in accordance with Paragraph 9 below). The maximum principal amount to be advanced to Borrower under this line of credit will not exceed $7,500,000 at any one time outstanding, of which the maximum principal amount to be advanced against the security of eligible Inventory will not exceed $2,250,000, and of w
