defined herein shall have
the meanings ascribed to such terms in the Loan Agreement.
Borrower and Newtek each certify that a duly authorized officer has executed and
delivered this Reaffirmation of Release Letter, together with a true, accurate
and complete copy of the SBA approval of the Fourth Amendment and the
transactions contemplated therein, which is attached as Schedule 1 hereto, as
required pursuant to Section 8 of the Fourth Amendment.
REAFFIRMATION OF RELEASE
FOR GOOD AND VALUABLE CONSIDERATION, THE SUFFICIENCY OF WHICH IS HEREBY
ACKNOWLEDGED AND CONFIRMED, EFFECTIVE UPON THE DATE THE SBA APPROVES THE FOURTH
AMENDMENT AS INDICATED IN THE ATTACHED SBA APPROVAL DOCUMENTATION, EACH OF
BORROWER AND NEWTEK, FOR ITSELF AND ITS PREDECESSORS, SUCCESSORS AND ASSIGNS,
HEREBY (I) REAFFIRM THE RELEASE PROVIDED IN SECTION 8 OF THE FOURTH AMENDMENT
AND (II) FOREVER RELEASE, WAIVE AND DISCHARGE ALL CLAIMS, SUITS, JUDGMENTS,
DAMAGES, DEMANDS, DEBTS, RIGHTS, CAUSES OF ACTION AND OTHER LIABILITIES, WHETHER
LIQUIDATED OR UNLIQUIDATED, FIXED OR CONTINGENT, MATURED OR UNMATURED, KNOWN OR
UNKNOWN, FORESEEN OR UNFORESEEN, NOW EXISTING, IN LAW OR EQUITY OR OTHERWISE
THAT THE BORROWER OR NEWTEK MAY HAVE AGAINST THE LENDER AND EACH OF THE
OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ADVISORS, PARTNERS, MEMBERS,
SHAREHOLDERS AND AFFILIATES OF LENDER BASED ON OR ARISING OUT OF THE LOAN
AGREEMENT, THE GUARANTY, THE ADMINISTRATION OR ENFORCEMENT THEREOF, AND THE
NEGOTIATION OF, AND THE PREPARATION OF ANY DEFINITIVE DOCUMENTATION IN
ANTICIPATION OF, SUCH AMENDMENT.
THE RELEASE SHALL SURVIVE THE TERMINATION OF THE LOAN AGREEMENT AND EACH LOAN
DOCUMENT.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
15
Very truly yours, (i)
BORROWER: NEWTEK SMALL BUSINESS FINANCE, INC. By:
/s/ Peter Downs
Name:
Peter Downs Title:
President (ii)
NEWTEK: NEWTEK BUSINESS SERVICES,
INC. By:
/s/ Barry Sloane
Name:
Barry Sloane Title:
Chairman & Chief Executive Officer
16
Schedule 1
[omitted]