Document:

Prepared by MERRILL CORPORATION

Exhibit 10.18  

April 1,
2000 

GameTech
International, Inc.

Bingo Technologies Corporation

2209 West 1st Street, Suite 113-114

Tempe, AZ 85281 

Gentlemen: 

        This
letter amendment (this "Amendment") is to confirm the changes agreed upon between Wells Fargo Bank, National Association ("Bank") and GameTech international, Inc.
("GameTech") and Bingo Technologies Corporation ("Bingo") (individually and collectively, "Borrower") to the terms and conditions of that certain letter agreement between Bank and GameTech dated as of
August 19, 1998, as amended from time to time (the "Agreement"). For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Bank and Borrower hereby agree that
the Agreement shall be amended as follows to reflect said changes. 

        1.    The
first paragraph of the Agreement is hereby amended to add and include Bingo as a "Borrower" as defined therein, and Bingo is hereby fully obligated for all
obligations under, and subject to all covenants, conditions, provisions and agreements set forth in, the Agreement as if originally executed by Bingo. Unless otherwise set forth in the Agreement, each
reference in the Agreement to "Borrower" shall mean Bingo and GameTech, collectively and individually. 

        2.    The
Agreement is hereby amended by deleting "March 31, 2000" as the last day on which Bank will make advances under the Line of Credit, and by substituting for
said date "April 2, 2001," with such change to be effective upon the execution by Borrower and delivery to Bank of a promissory note substantially in the form of Exhibit A attached
hereto (which promissory note shall replace and be
deemed the Line of Credit Note defined in and made pursuant to the Agreement) and all other contracts, instruments and documents required by Bank to evidence such change. 

        3.    Paragraph
11.4. is hereby deleted in its entirety, and the following substituted therefor: 

        4.    Collection of Payments.    Borrower authorizes Bank to collect all principal, interest and fees due as of the
date of this Agreement or otherwise under the Line of Credit by charging GameTech International, Inc.'s demand deposit account number 4159-539352 with Bank, or any other demand deposit account
maintained by Borrower with Bank, for the full amount thereof. Should there be insufficient funds in any such demand deposit account to pay all such sums when due, the full amount of such deficiency
shall be immediately due and payable by Borrower." 

        4.    Paragraph III.1.
is hereby deleted in its entirety, and the following substituted therefor: 

        "1.    Legal Status.    GameTech is a corporation, duly organized and existing and in good standing under the laws of
the state of Delaware, and Bingo is a corporation, duly organized and existing and in good standing under the laws of the state of Nevada, and Borrower is qualified or licensed to do business in all
jurisdictions in which such qualification or licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on Borrower." 

        5.    Paragraph
1.2. is hereby deleted in its entirety, and the following substituted therefor: 

        "2.  COLLATERAL: 

        As
security for all indebtedness of Borrower to Bank subject hereto, Borrower hereby grants to Bank security interests of first priority in all Borrower's accounts receivables and other
rights to payment, general intangibles, inventory and equipment. Additionally, Borrower hereby covenants and agrees to grant to Bank security interests of first priority in all personal property, of
any entity acquired in any acquisition permitted or approved by Bank under this Agreement. Upon request 

 

by Bank, Borrower shall provide or cause to be provided to Bank addresses for all the locations of such collateral. 

        All
of the foregoing shall be evidenced by and subject to the terms of such security agreements, financing statements, deeds of trust and other documents as Bank shall reasonably
require, all in form and substance satisfactory to Bank. Borrower shall reimburse Bank immediately upon demand for all costs and expenses incurred by Bank in connection with any of the foregoing
security, including without limitation, filing and recording fees and costs of audits." 

        6.    Paragraph
V.3. is hereby deleted in its entirety, and the following substituted therefor: 

        "3.    Financial Statements.    Provide to Bank, on a consolidated basis, all of the following, in form and detail
satisfactory to Bank. 

        (a)  not
later than 120 days after and as of the end of each fiscal year, an audited financial statement of Borrower, prepared by a certified public accountant
acceptable to Bank, to include balance sheet, income statement, statement of cash flows, and source and applicable of funds statement; 

        (b)  not
later than 45 days after and as of the end of each fiscal quarter, a financial statement of Borrower, prepared by Borrower, to include balance sheet, income
statement, statement of cash flows, source and application of funds statement, and an aged listing of accounts receivable and accounts payable; 

        (c)  promptly,
after the same are available, and in any event within five (5) days after filing, copies of all annual, regular, periodic and special reports and
statements which Borrower may file or is required to file with the Securities and Exchange Commission; and 

        (d)  from
time to time such other information as Bank may reasonably request." 

        7.    The
introductory paragraph in Paragraph V. is hereby deleted in its entirety, and the following substituted therefor: 

        "Borrower
acknowledges and agrees that except as otherwise set forth herein, all references to "Borrower" in this Paragraph 9 shall refer to the Borrower and its subsidiaries both
individually and collectively, and any exception, limitation or requirement designated by a dollar amount shall apply to the Borrower and its subsidiaries and affiliates, on an aggregate basis.
Borrower covenants that so long as Bank remains committed to extend credit to Borrower pursuant hereto, or any liabilities (whether direct or contingent, liquidated or unliquidated) of Borrower to
Bank under any of the Loan Documents remain outstanding, and until payment in full of all obligations of Borrower subject hereto,
Borrower shall, and all of Borrower's subsidiaries and affiliates shall, unless Bank otherwise consents in writing:" 

        8.    Paragraph
V.9. is hereby deleted in its entirety, and the following substituted therefor: 

        "9.    Financial Condition.    Maintain Borrower's financial condition, on a consolidated basis, as follows using
generally accepted accounting principles consistently applied and used consistently with prior practices (except to the extent modified by the definitions herein), with compliance determined
commencing with Borrower's financial statements for the period ending January 31, 2000: 

        (a)  Tangible
Net Worth not at any time less than $25,000,000.00, with "Tangible Net Worth" defined as the aggregate of total stockholders' equity less any intangible assets. 

        (b)  Quick
Ratio not at any time less than 1.5 to 1.0, with "Quick Ratio" defined as the aggregate of unrestricted cash, unrestricted marketable securities, receivables
convertible into 

2

 

cash and refundable deposits collectible within ninety (90) days divided by total current liabilities. 

        (c)  Net
income after taxes no less than $1.00 on a quarterly basis, determined as of each fiscal quarter end." 

        9.    Paragraph V.11.
is hereby deleted in its entirety, and the following substituted therefor: 

        "11.    Merger, Consolidation, Transfer of Assets.    Without written consent of Bank which shall not be unreasonably
withheld, not merge into or consolidate with any other entity; nor make any substantial change in the nature of Borrower's business as conducted as of the date hereof, nor acquire all or substantially
all of the assets of or make an investment in any other entity, or with respect to GameTech International, Inc., all or substantially all of the assets of or investment in any other entity
which shall, require cash consideration in excess of $7,500,000.00, nor sell, lease, transfer or otherwise dispose of all or a substantial or material portion of Borrower's assets except in the
ordinary course of its business." 

        10.  Except
as specifically provided herein, all terms and conditions of the Agreement remain in full force and effect, without waiver or modification. All terms defined in
the Agreement shall have the same meaning when used herein, This Amendment and the Agreement shall be read together, as one document. 

        11.  Borrower
hereby remakes all representations and warranties contained in the Agreement and reaffirms all covenants set forth therein. Borrower further certifies that as
of the date of Borrower's acknowledgment set forth below there exists no default or defined event of default under the Agreement or any promissory note or other contract, instrument or document
executed in connection therewith, nor any condition, act or event which with the giving of notice or the passage of time or both would constitute such a default or defined event of default. 

        Your
acknowledgment of this Amendment shall constitute. acceptance of the foregoing terms and conditions. 

	 	 	 	Sincerely,
	

 	

 	
 	

WELLS FARGO BANK,

    NATIONAL ASSOCIATION
	

 	

 	
 	

By:	

/s/  JOHN D. HELMS      
 John D. Helms
 Vice President
	

Acknowledged and accepted as of 4-1-2000
	

GAMETECH INTERNATIONAL, INC.	
 	

 	

 
	

By:	

/s/  JOHN J. PAULSON      
	
 	

 	

 
	

Title:	

CFO
	
 	

 	

 
	

BINGO TECHNOLOGIES CORPORATION	
 	

 	

 
	

By:	

/s/  JOHN J. PAULSON      
	
 	

 	

 
	

Title:	

CFO
	
 	

 	

 

3Prepared by MERRILL CORPORATION

Exhibit 10.19  

April 2,
2001 

GameTech
International, Inc.

Bingo Technologies Corporation

900 Sandhill Road

Reno, NV 89511-3909 

Gentlemen: 

        This
letter amendment (this "Amendment") is to confirm the changes agreed upon between WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank") and GameTech International, Inc.
("GameTech") and Bingo Technologies Corporation ("Bingo") (individually and collectively, "Borrower") to the terms and conditions of that certain letter agreement between Bank and Borrower dated as of
August 19, 1998, as amended from time to time (the "Agreement"). For valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Bank and Borrower hereby agree that
the Agreement shall be amended as follows to reflect said changes. 

        1.    The
Agreement is hereby amended by deleting "April 2, 2001" as the last day on which Bank will make advances under the Line of Credit, and by substituting for said
date "April 2, 2002," with such change to be effective upon the execution and delivery to Bank of a promissory note substantially in the form of Exhibit A attached hereto (which
promissory note shall replace and be deemed the Line of Credit Note defined in and made pursuant to the Agreement) and all other contracts, instruments and documents required by Bank to evidence such
change. 

        2.    The
following is hereby added to the introductory as Paragraph 2: 

        "A
facility under which Bank will enter into foreign exchange contracts for the account of Borrower from time to time up to and including April 2, 2002, not to exceed at any time
the maximum principal amount of Two Hundred Thousand United States Dollars (US$200,000.00) ("Foreign Exchange Facility")." 

        3.    The
following is hereby added to the Agreement as Paragraph I.1.1.: 

        "1.1.    FOREIGN
EXCHANGE FACILITY: 

        Bank
will enter into foreign exchange contracts for the account of Borrower under the Foreign Exchange Facility for the purchase and/or sale by Borrower in United States dollars of
foreign currencies designated by Borrower; provided however, that the aggregate of all outstanding foreign exchange contracts shall not at any time exceed the maximum principal amount available under
the Foreign Exchange Facility, as set forth above. No foreign exchange contract shall be executed for a term which extends beyond April 2, 2002. Borrower shall have a "Delivery Limit" under the
Foreign Exchange Facility not to exceed at any time the aggregate principal amount of Two Hundred Thousand United States Dollars (US$200,000.00), which Delivery Limit reflects the maximum principal
amount of Borrower's foreign exchange contracts which may mature during any 2 day period. All foreign exchange transactions shall be subject to the additional terms of a Foreign Exchange Agreement,
substantially in the form of Exhibit B attached hereto ("Foreign Exchange Agreement"), all terms of which are incorporated herein by this reference." 

        4.    Paragraph
III.6. is hereby deleted in its entirety, and the following substituted thereof: 

        "6.    Income Tax Returns.    Borrower has no knowledge of any material or
significant pending assessment or adjustments of its income tax payable with respect to any year." 

 

        5.    Paragraphs
V.3. (a) and (b) are hereby deleted in their entirety, and the following substituted thereof: 

        "(a)    not
later than 124 days and as of the end of each fiscal year, an audited financial statement of Borrower, prepared by a certified public
accountant acceptable to Bank, to include balance sheet, income statement, statement of cash flows, and source and application of funds statement; 

        (b)  not
later than 49 days after and as of the end of each fiscal quarter, a financial statement of Borrower, prepared by Borrower, to include balance sheet, income
statement, statement of cash flows, source and application of funds statement, and an aged listing of accounts receivable and accounts payable; 

        6.    Paragraphs
V.9. and V.9. (c) are hereby deleted in their entirety, and the following substituted thereof: 

        "9.  Financial Condition. Maintain Borrower's financial condition, on a consolidated basis, as follows using generally
accepted accounting principles consistently applied (except to the extent modified by the definitions herein), with compliance determined commencing with Borrower's financial statements for the period
ending January 31, 2000: 

        (c)  Net
loss not greater than $1,000,000.00 at the end of first fiscal quarter in year 2001 due to non-recurring, non-cash expenses, thereafter, net income after taxes no
less than $1.00 on a quarterly basis, determined as of each fiscal quarter end." 

        7.    Paragraphs
V. 15. and V. 16. are hereby deleted in their entirety, without substitution. 

        8.    Paragraph
V. 17. is hereby deleted in its entirety, and the following substituted therefor: 

        "17.    Dividends, Distributions.    Not declare or pay any dividend or distribution either in cash, stock or any
other property on Borrower's stock now or hereafter outstanding, nor redeem, retire, repurchase or otherwise acquire any shares of any class of Borrower's stock now or hereafter outstanding, except
(i) stock repurchases pursuant to Borrower's stock repurchase plan announced on or about May 28, 1998 and August of 2000, up to a maximum amount of $10,000,000.00 and
(ii) dividends or distributions up to an aggregate of twenty-five percent (25%) of Borrower's net earnings for any fiscal year." 

        9.    Paragraph VII.7.
hereby deleted in its entirety, and the following substituted thereof: 

        "7.  GOVERNING
LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada." 

        10.  Paragraph VII.8.
hereby deleted in its entirety, and the following substituted thereof: 

        "8    ARBITRATION:

        (a)  Arbitration. The parties hereto agree, upon demand by any party, to submit to binding arbitration all claims, disputes
and controversies between or among them (and their respective employees, officers, directors, attorneys, and other agents), whether in tort, contract or otherwise arising out of or relating to in any
way (i) the loan and related loan and security documents which are the subject of this Note and its negotiation, execution, collateralization, administration, repayment, modification,
extension, substitution, formation, inducement, enforcement, default or termination; or (ii) requests for additional credit. 

        (b)  Governing Rules. Any arbitration proceeding will (i) proceed in a location in Nevada selected by the American
Arbitration Association ("AAA"); (ii) be governed by the Federal Arbitration Act (Title 9 of the United States Code), notwithstanding any conflicting choice of law provision in any of the
documents between the parties; and (iii) be conducted by the 

2

 

AAA, or such other administrator as the parties shall mutually agree upon, in accordance with the AAA's commercial dispute resolution procedures, unless the claim or counterclaim is at least
$1,000,000.00 exclusive of claimed interest, arbitration fees and costs in which case the arbitration shall be conducted in accordance with the AAA's optional procedures for large, complex commercial
disputes (the commercial dispute resolution procedures or the optional procedures for large, complex commercial disputes to be referred to, as applicable, as the "Rules"). If there is any
inconsistency between the terms hereof and the Rules, the terms and procedures set forth herein shall control. Any party who fails or refuses to submit to arbitration following a demand by any other
party shall bear all costs and expenses incurred by such other party in compelling arbitration of any dispute. Nothing contained herein shall be deemed to be a waiver by any party that is a bank of
the protections afforded to it under 12 U.S.C. §91 or any similar applicable state law. 

        (c)  No Waiver of Provisional Remedies, Self-Help and Foreclosure. The arbitration requirement does not limit the right of any
party to (i) foreclose against real or personal property collateral; (ii) exercise self-help remedies relating to collateral or proceeds of collateral such as setoff or repossession; or
(iii) obtain provisional or ancillary remedies such as replevin, injunctive relief, attachment or the appointment of a receiver, before during or after the pendency of any arbitration
proceeding. This exclusion does not constitute a waiver of the right or obligation of any party to submit any dispute to arbitration or reference hereunder, including those arising from the exercise
of the actions detailed in sections (i), (ii) and (iii) of this paragraph. 

        (d)  Arbitrator Qualifications and Powers. Any arbitration proceeding in which the amount in controversy is $5,000,000.00 or
less will be decided by a single arbitrator selected according to the Rules, and who
shall not render an award of greater than $5,000,000.00. Any dispute in which the amount in controversy exceeds $5,000,000.00 shall be decided by majority vote of a panel of three arbitrators;
provided however, that all three arbitrators must actively participate in all hearings and deliberations. The arbitrator will be a neutral attorney licensed in the State of Nevada or a neutral retired
judge of the state or federal judiciary of Nevada, in either case with a minimum of ten years experience in the substantive law applicable to the subject matter of the dispute to be arbitrated. The
arbitrator will determine whether or not an issue is arbitratable and will give effect to the statutes of limitation in determining any claim. In any arbitration proceeding the arbitrator will decide
(by documents only or with a hearing at the arbitrator's discretion) any pre-hearing motions which are similar to motions to dismiss for failure to state a claim or motions for summary adjudication.
The arbitrator shall resolve all disputes in accordance with the substantive law of Nevada and may grant any remedy or relief that a court of such state could order or grant within the scope hereof
and such ancillary relief as is necessary to make effective any award. The arbitrator shall also have the power to award recovery of all costs and fees, to impose sanctions and to take such other
action as the arbitrator deems necessary to the same extent a judge could pursuant to the Federal Rules of Civil Procedure, the Nevada Rules of Civil Procedure or other applicable law. Judgment upon
the award rendered by the arbitrator may be entered in any court having jurisdiction. The institution and maintenance of an action for judicial relief or pursuit of a provisional or ancillary remedy
shall not constitute a waiver of the right of any party, including the plaintiff, to submit the controversy or claim to arbitration if any other party contests such action for judicial relief. 

        (e)  Discovery. In any arbitration proceeding discovery will be permitted in accordance with the Rules. All discovery shall be
expressly limited to matters directly relevant to the dispute being arbitrated and must be completed no later than 20 days before the hearing date and within 180 days of the filing of
the dispute with the AAA. Any requests for an extension 

3

 

of the discovery periods, or any discovery disputes, will be subject to final determination by the arbitrator upon a showing that the request for discovery is essential for the party's presentation
and that no alternative means for obtaining information is available. 

        (f)    Class Proceedings and Consolidations. The resolution of any dispute arising pursuant to the terms of this Note shall be
determined by a separate arbitration proceeding and such dispute shall not be consolidated with other disputes or included in any class proceeding. 

        (g)  Payment Of Arbitration Costs And Fees. The arbitrator shall award all costs and expenses of the arbitration proceeding. 

        (h)  Real Property Collateral. Notwithstanding anything herein to the contrary, no dispute shall be submitted to arbitration
if the dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real property unless (i) the holder of the mortgage, lien or security interest specifically
elects in writing to proceed with the arbitration, or (ii) all parties to the arbitration waive any rights or benefits that might accrue to them by virtue of the single action rule statute of
Nevada, thereby agreeing that all indebtedness and obligations of the parties, and all mortgages, liens and security interests securing such indebtedness and obligations, shall remain fully valid and
enforceable. 

        (i)    Miscellaneous. To the maximum extent practicable, the AAA, the arbitrators and the parties shall take all action required
to conclude any arbitration proceeding within 180 days of the filing of the dispute with the AAA. No arbitrator or other party to an arbitration proceeding may disclose the existence, content
or results thereof, except for disclosures of information by a party required in the ordinary course of its business or by applicable law or regulation. If more than one agreement for arbitration by
or between the parties potentially applies to a dispute, the arbitration provision most directly related to the documents between the parties or the subject matter of the dispute shall control. This
Note may be amended or modified only in writing signed by each party hereto. If any provision of this Note shall be held to be prohibited by or invalid under applicable law such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or any remaining provisions of this Note. This arbitration provision shall
survive termination, amendment or expiration of any of the documents or any relationship between the parties." 

        11.  Except
as specifically provided herein, all terms and conditions of the Agreement remain in full force and effect, without waiver or modification. All terms defined in
the Agreement shall have the same meaning when used herein. This Amendment and the Agreement shall be read together, as one document. 

        12.  Borrower
hereby remakes all representations and warranties contained in the Agreement and reaffirms all covenants set forth therein. Borrower further certifies that as
of the date of Borrower's acknowledgment set forth below there exists no default or defined event of default under the Agreement or any promissory note or other contract, instrument or document
executed in connection therewith, nor any condition, act or event which with the giving of notice or the passage of time or both would constitute such a default or defined event of default. 

4

 

        Your
acknowledgment of this Amendment shall constitute acceptance of the foregoing terms and conditions. 

	 	 	 	 	Sincerely,
	

 	
 	

 	
 	

WELLS FARGO BANK,

NATIONAL ASSOCIATION
	

 	
 	

 	
 	

By:	
 	

/s/  DEBBIE FUETSCH      

	 	 	 	 	 	 	Debbie Fuetsch

Vice President
	

Acknowledged and accepted as of March 30, 2001
	

GAMETECH INTERNATIONAL , INC.	
 	

 	
 	

 
	

By:	
 	

/s/  RICHARD M. KELLEY      
	
 	

 	
 	

 
	Title:	 	CEO
	 	 	 	 
	

BINGO TECHNOLOGIES CORPORATION	
 	

 	
 	

 
	

By:	
 	

/s/  RICHARD M. KELLEY      
	
 	

 	
 	

 
	Title:	 	CEO
	 	 	 	 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00033-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00033-of-00352.parquet"}]]