RE: Modification to Letter Agreement (Letter Agreement) dated July 2004 between Z-Axis Corporation (Borrower) and Colorado Business Bank (Bank) relating to a Promissory Note dated June 2, 2003 (Line Commitment)Letter Agreement • September 1st, 2006 • Z Axis Corp • Services-motion picture & video tape production
Please let this letter serve as evidence that, in consideration of $1,000, Colorado Business Bank waived all past covenant violations pertaining to the above referenced Line Commitment. These covenants have been amended in connection with the Line Commitment renewal done in August 2006, as referenced in a new Letter Agreement dated August 28, 2006.
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • September 1st, 2006 • Z Axis Corp • Services-motion picture & video tape production • Colorado
DESCRIPTION OF EXISTING INDEBTEDNESS. AN ORIGINAL PROMISSORY NOTE DATED JUNE 2, 2003 IN THE PRINCIPAL AMOUNT OF $500,000.00, WITH AN ORIGINAL MATURITY DATE OF JULY 2, 2004 AND INCLUDING ANY AND ALL SUBSEQUENT EXTENSIONS AND MODIFICATIONS THEREFROM.
