ADDENDUM TO WORKOUT AND COLLATERAL RELEASE AGREEMENTWorkout and Collateral Release Agreement • November 14th, 2002 • Netplex Group Inc • Services-prepackaged software
THIS ADDENDUM TO WORKOUT AND COLLATERAL RELEASE AGREEMENT, dated as of September 23, 2002 (this “Addendum”) is made by and among NETPLEX SYSTEMS, INC., a Delaware corporation (“Systems”), THE NETPLEX GROUP, INC., a New York corporation (“Group”) and WATERSIDE CAPITAL CORPORATION, a Virginia corporation (“Waterside”), and is an addendum to that certain WORKOUT AND COLLATERAL RELEASE AGREEMENT, dated as of May 15, 2002 (the “Agreement”) by and among the parties hereto. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them by the Agreement.
SECURITY AGREEMENTSecurity Agreement • November 14th, 2002 • Netplex Group Inc • Services-prepackaged software • Virginia
THIS SECURITY AGREEMENT is made as of the 15th day of May, 2002, between CONTRACTORS RESOURCES, INC., a New Jersey corporation (“Debtor”), and WATERSIDE CAPITAL CORPORATION, a Virginia corporation (the “Secured Party”).
FIRST AMENDMENT TO SECURED COMMERCIAL NOTESecured Commercial Note • November 14th, 2002 • Netplex Group Inc • Services-prepackaged software
THIS FIRST AMENDMENT TO SECURED COMMERCIAL NOTE (the “Amendment”) is made as of the 15th day of May 2002 by and between THE NETPLEX GROUP, INC., a New York corporation (“Maker”) and WATERSIDE CAPITAL CORPORATION, a Virginia corporation (“Payee”; Payee and any subsequent holder[s] hereof are hereinafter referred to collectively as “Holder”) and amends that certain Secured Commercial Note dated September 28, 2001 made by Maker to Holder in the original principal amount of $900,000 (the “Note”).
