FORBEARANCE AGREEMENTForbearance Agreement • August 6th, 2008 • Westaff Inc • Services-help supply services • California
THIS FORBEARANCE AGREEMENT, dated as of July 31, 2008, is entered into by and among the financial institutions identified on the signature pages hereto (collectively, the “Lenders”), U.S. Bank National Association, as administrative agent for the Lenders (in such capacity, the “Agent”), Westaff (USA), Inc., a California corporation (the “Borrower”), and Westaff, Inc., a Delaware corporation and the sole shareholder of the Borrower, as parent guarantor (the “Parent Guarantor”), with reference to the following facts:
