FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • May 8th, 2008 • GPS Industries, Inc. • Communications equipment, nec • Texas
Contract Type FiledMay 8th, 2008 Company Industry JurisdictionThis FIRST AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into effective April 30, 2008, by and between SILICON VALLEY BANK (“Bank”) and GPS INDUSTRIES, INC., a Nevada corporation, (“Borrower”).
Re: Facility Fees for up to $3.5 Million PledgeGPS Industries, Inc. • May 8th, 2008 • Communications equipment, nec
Company FiledMay 8th, 2008 IndustryReference is made to (i) that certain Term Sheet (the “Term Sheet”), by and between GPS Industries, Inc., a Nevada corporation (“GPSI”) and Silicon Valley Bank (“SVB”), dated as of April 18, 2008, (ii) that certain [Amended Loan and Security Agreement] (the “Amended Loan and Security Agreement”), by and between GPSI and SVB, dated as of May 2, 2008, and (iii) that certain Pledge Agreement (the “Pledge Agreement”, and collectively with the Amended Loan and Security Agreement and the Pledge Agreement, the “Agreements”), by and between Great White Shark Enterprises LLC, a Florida limited liability company (“GWSE” or “you”) and SVB, pursuant to which you have agreed to pledged up to $3.5 million as security (the "Security") for advances made by SVB under the Amended Loan and Security Agreement. This letter agreement (the “Fee Letter”) is the facility fee agreement referred to in the Term Sheet.