Smart Online Inc. Durham, NC 27703 Re: Letter Agreement for $6,500,000.00 Term Facility Gentlemen:Smart Online Inc • December 6th, 2010 • Services-prepackaged software
Company FiledDecember 6th, 2010 IndustryIsrael Discount Bank of New York ("IDB") is pleased to advise you that it holds available for the benefit of Smart Online Inc. (the "Borrower"), a corporation organized and in good standing under the laws of the State of Delaware, a multi-draw term loan facility ("Credit Facility") in the maximum principal amount of $6,500,000.00, subject to the following terms and conditions of this letter agreement ("Letter Agreement") as set forth below: