Document:

Exhibit 10.58

 

CHANGE IN TERMS AGREEMENT

 

	

  Principal  

  $2,000,000,00

  	

   

  	

  Loan Date  

  06-03-2002

  	

   

  	

  Maturity  

  06-03-2004

  	

   

  	

  Loan No  

  112458756

  	

   

  	

  Call/Coll  

  2000

  	

   

  	

  Account

  	

   

  	

  Officer  

  016

  	

   

  	

  Initials  

  /s/ JHS

  
	

  References in the

  shaded area are for Lender’s use only and do not limit the applicability of

  this document to any particular loan or item. Any item above containing “***”

  has been omitted due to text length limitations.

  

 

	

  Borrower:

  	

   

  	

  Fresh Choice, Inc.

  	

   

  	

  Lender:

  	

   

  	

  Mid-Peninsula Bank

  
	

   

  	

   

  	

  485 Cochrane Circle

  	

   

  	

   

  	

   

  	

  Palo Alto Office

  
	

   

  	

   

  	

  Morgan Hill, CA  95037

  	

   

  	

   

  	

   

  	

  420 Cowper Street

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  Palo Alto, CA  94301

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  

 

	

  Principal Amount:  $2,000,000.00

  	

   

  	

  Initial Rate:  5.250%

  	

   

  	

  Date of Agreement:  June 3, 2002

  

DESCRIPTION

OF EXISTING INDEBTEDNESS.  Promissory

Note dated October 5, 2001 in the original principal amount of $2,000,000.00

(the “Note”).

DESCRIPTION

OF COLLATERAL.  The

Collateral as described in that certain Pledge Agreement dated October 5, 2001.

DESCRIPTION

OF CHANGE IN TERMS.  The

maturity date of the Note is hereby extended from October 5, 2002 to June 3,

2004.

The Revolving Loan

Agreement dated October 5, 2001 is hereby amended as follows:

4.7           Net Worth Ratio.  At all times, maintain a ratio of Debt to

Tangible Net Worth of not greater than 0.75 to 1.00 during the twelve month

period beginning June 3, 2002, and during the twelve month period beginning

June 3, 2003, maintain a ratio of Debt to Tangible Net Worth of not greater

than 0.90 to 1.00.

4.8           Other Ratio.  Maintain a ratio, as of the end of each

fiscal quarter of Borrower, as measured on a rolling four fiscal quarter basis,

of (x) the sum of Borrower’s annual earning before interest, taxes,

depreciation and amortization expenses (but excluding any non-cash income) less

dividends and distributions paid to shareholders of Borrower, to (y) the amount

of current portion of long-term obligations as reflected on Borrower’s most

recent balance sheet date plus the amount of the interest expense for the

preceding four fiscal quarters, of 2.5 to 1.00.  Except as provided above, all computations made to determine

compliance with the requirements contained in this paragraph shall be made in

accordance with generally accepted accounting principles, applied on a

consistent basis, and certified by Borrower as being true and correct.

4.9           Capital Expenditures.  Not to make Total Capital Expenditures in

excess of $12,000,000 during the fiscal year ending December 31, 2002 nor in

excess of $12,000,000 during the fiscal year ending December 31, 2003.

4.10         Total Shareholder Equity.  Maintain at all times a Tangible Net Worth

in excess of $23,000,000.00 during the twelve month period beginning June 3,

2002; and during the twelve month period beginning June 3, 2003 maintain at all

times a Tangible Net Worth in excess of $24,000,000.00.

All other terms and

conditions remain the same.

CONTINUING

VALIDITY.  Except as

expressly changed by this Agreement, the terms of the original obligation or

obligations, including all agreements evidenced or securing the obligation(s),

remain unchanged and in full force and effect. 

Consent by Lender to this Agreement does not wave Lender’s right to

strict performance of the obligation(s) as changed, nor obligate Lender to make

any future change in terms.  Nothing in

this Agreement will constitute a satisfaction of the obligation(s).  It is the intention of Lender to retain as

liable parties all makers and endorsers of the original obligation(s),

including accommodation parties, unless a party is expressly released by Lender

in writing.  Any maker or endorser, including

accommodation makers, will not be released by virtue of this Agreement.  If any person who signed the original

obligation does not sign this Agreement below, then all persons signing below

acknowledge that this Agreement is given conditionally, based on the

representation to Lender that the non-signing party consents to the changes and

provisions of this Agreement or otherwise will not be released by it.  This waiver applies not only to any initial

extension, modification or release, but also to all such subsequent actions.

REVOLVING LOAN AGREEMENT.  In addition to the terms and conditions

contained in the Note and this Change in Terms Agreement, it is to be further

subject to the terms and conditions contained in that certain Revolving Loan

Agreement (“Agreement”) dated October 5, 2001, executed by Borrower in favor of

Lender.

 

PRIOR TO SIGNING THIS AGREEMENT, BORROWER READ AND UNDERSTOOD ALL THE

PROVISIONS OF THIS AGREEMENT, INCLUDING THE VARIABLE INTEREST RATE

PROVISIONS.  BORROWER AGREES TO THE TERMS

OF THE AGREEMENT.

 

BORROWER:

 

 

 

FRESH CHOICE, INC.

 

 

	

  By:

  	

  /s/  David E. Pertl

  
	

   

  	

   

  
	

   

  	

  David E. Pertl, Sr. Vice President & C.F.O.<PAGE>

                                                                   Exhibit 10.01

                         Common Stock Purchase Agreement

         Common Stock Purchase Agreement (the "Agreement"), dated April 2, 2002
by and between Cyberstation Computers and Support Inc., a Canadian corporation
with its principal place of business at 30 St. Patrick St., 4th Floor, Toronto,
Ontario M5H 3A3 (the "Purchaser"), and Zeeshan Saeed and Platinum
Telecommunications Inc., with principal offices at 401-50 Burnhamthorpe Road
North, Mississauga, Ontario Canada, L5B 3C2 (hereforth known as the "Seller" and
"the Company," respectively).

                                    Recitals

         Whereas, the Seller is the owner of all of the Capital Stock (the
"Shares") of the Company.

         Whereas, the Purchaser wishes to purchase and the Seller wishes to sell
70 % of the shares at the closing (as hereafter defined) on the terms and
conditions set forth in this Agreement;

         Now, Therefore, in consideration of the premises and of the Agreements
set forth below, the parties agree as follows:

         1.       Purchase and Sale.

                  a.       Shares to be purchased and sold. At the closing, the
                           Seller agrees to sell, transfer, convey, assign and
                           deliver to the Purchaser, the shares free and clear
                           of all liens, claims and encumbrances for the
                           purchase price hereafter set forth.

                  b.       Purchase Price. Upon terms and subject to the
                           conditions set forth in this Agreement, in exchange
                           for the shares of the "Company", Purchaser hereby
                           agrees to provide to the Seller 1,800,000 shares of
                           the Common Stock of BankEngine Technologies Inc.,
                           $.001 per value. (the "Payment Stock").

                  c.       Closing Date. The Closing shall occur on or before
                           April 5, 2002 (the "Closing Date") at the offices of
                           the Purchaser (the "Closing"). The Closing will be
                           subject to conditional upon (i) the receipt and
                           review of and satisfaction with any due diligence
                           materials and disclosure documentation requested by
                           the Purchaser, and authorized by the Company's Board
                           of Directors and approval by the Company's
                           Stockholders of the Sale of the Shares.

                  d.       Delivery of Shares and Payment. At or before the
                           Closing, Seller will deliver to the Purchaser,
                           certificates representing all of the shares, which
                           share certificates will be appropriately endorsed
                           over to the Purchaser. At the Closing, Purchaser will
                           deliver the certificate (s) representing the Payment
                           Stock, which share certificate will be appropriately
                           endorsed over to the Seller. At or before the
                           Closing, seller shall transfer control of seller's
                           corporate bank accounts to officers of purchaser.

         2.       Representations and Warranties of the Seller

                  The Seller represents and warrants as follows:

                  a.       Organization, Standing and Qualification. The Company
                           is a corporation duly organized, validly existing and
                           in good standing under the laws of the Canada; the
                           Company has all requisite corporate power and
                           authority and possesses all franchises, licenses,
                           permits, authorizations and approvals from all
                           administrative agencies necessary to conduct its
                           business as conducted; and is dully qualified
                           licensed or domesticated and in good standing as a
                           foreign corporation authorized to do business in any
                           jurisdiction where the nature of its business and
                           activities conducted by it or the character of the
                           properties and assets owned, leased or operated by it
                           require such qualification, licensing or
                           domestication.

<PAGE>

                  b.       Ownership. The Seller has the absolute right to sell
                           and transfer the Shares to the Purchaser free and
                           clear of all liens, pledges, encumbrances or claims
                           of right s of ownership. Upon transfer, the shares
                           shall be duly authorized, validly issued fully paid
                           and non-assessable, and no liability shall attach to
                           the ownership thereof.

                  c.       Due Execution. The execution, delivery and
                           performance by the Seller of this Agreement are
                           within the Seller's powers have been authorized by
                           all appropriate corporate action and do not violate
                           any contractual restriction contained in any
                           Agreement which binds or restricts or purports to
                           bind or affect the Seller or any provision of the
                           Company's Certificate of Incorporation.

                  d.       Binding Effect. This Agreement, when executed and
                           delivered will be the legal, valid and binding
                           obligations of the Seller enforceable against the
                           Seller in accordance with its terms.

         3. Representations and Warranties by the Purchaser. The Purchaser
represents and warrants to the Seller as follows:

                  a.       Execution, Delivery, authorization, Approval and
                           Performance of Agreement. The execution and delivery
                           by each Purchaser of this Agreement and its
                           performance hereunder does not and will not conflict
                           with or constitute a default, breach or violation
                           under any provision of applicable law or regulation
                           or of any Agreement, judgment, injunction, order,
                           decree or other instrument binding upon the Purchaser
                           or to which his properties is subject. This Agreement
                           when executed and delivered by the Purchaser will
                           constitute the legal, valid and binding Agreement of
                           the Purchaser and is enforceable in accordance with
                           its terms.

                           (i)      The Purchaser represents that (1) he is
                                    purchasing for the shares after having made
                                    adequate investigation of the business,
                                    finances and prospects of the company, (2)
                                    he has been furnished any information and
                                    materials relating to the business, finances
                                    and operations of the Company and any
                                    information and materials relating to the
                                    offer and sale of the shares which he has
                                    requested and (3) he has been given an
                                    opportunity to make any further inquiries
                                    desired of the management and any other
                                    personnel of the Company and has received
                                    satisfactory responses to such inquiries.

                           (ii)     The Purchaser represents that he is an
                                    "accredited investor", and that term is
                                    defined in Regulation D, as amended, under
                                    the Act and that he possesses such knowledge
                                    and experience in financial and business
                                    matters that he is capable of evaluating the
                                    merits and risks of an investment in the
                                    shares and of making an informed investment
                                    decision.

         4.       Miscellaneous.

                  a.       Equipment. All of seller's equipment (as listed in
                           Appendix A, attached) such as, but not limited to,
                           all Telecommunications switches, computers,
                           attachments, accessories, software, cables, are to be
                           itemized, serialized, and attached to this agreement
                           at time of closing. Equipment is hereby agreed to be
                           transferred from Seller to Purchaser at time of
                           closing.

                  b.       Amendments, etc. No amendment of any provision of
                           this Agreement shall in any event be effective unless
                           the amendment shall be in writing and signed by the
                           Seller and the Purchaser, and no waiver or consent to
                           any departure by any party therefrom shall in any
                           event be effective unless such waiver or consent
                           shall be in writing by the party waiving or
                           consenting to such provision, and then such waiver or
                           consent shall be effective only in the specific
                           instance and for the specific purpose for which
                           given.

                                       2

<PAGE>

                  c.       Debts. The purchaser shall assume a specific debt of
                           the company, documented as a Canadian Government
                           guaranteed loan registered as # 548378 with a balance
                           of approximately $80,000.00 CAD at time of signing.
                           The loan is personally guaranteed to the Royal Bank
                           of Canada by Mr. Zeeshan Saeed and the Purchaser
                           agrees to assume the loan and guarantee. The loan
                           document is herein attached as Appendix B. No other
                           debts, known or unknown, shall be assumed by the
                           purchaser at the time of the closing of the
                           transaction.

                  d.       Notices, etc. All notices and other communications
                           provided for hereunder shall be in writing (including
                           telegraphic, facsimile, telex, or cable
                           communication) and mailed, telegraphed, telecopied,
                           telexed, cabled or delivered:

(if to the Purchaser,

Cyberstation Computers and Support  Inc.
30 St. Patrick St., 4th Floor
Toronto, Ontario
M5H 3T3

With a copy to

Arthur S. Marcus
Gersten, Savage & Kaplowitz, LLP
101 East 52nd Street
New York, New York 10022

And

Zeeshan Saeed
401-50 Burnhamthorpe Road North
Mississauga, Ontario, Canada,  L5B 3C2

         or, as to any such party, at such other address as shall be designated
by such party in a written notice to the other parties.

                  e.       No waiver; Remedies. No failure on the part of the
                           Purchaser or the Seller to exercise, and no delay in
                           exercising, any right under this Agreement shall
                           operate as a waiver thereof; nor shall any single or
                           partial exercise thereof or the exercise of any other
                           right. The remedies herein provided are cumulative
                           and not exclusive of any remedies provided by law.

                  f.       Survival of Agreements. The representations,
                           warranties, covenants and provisions contained in
                           this Agreement shall survive the date hereof and the
                           purchase of the shares by the Purchaser hereunder.

                  g.       Severability of Provisions. Any provision of this
                           Agreement which is prohibited or unenforceable in any
                           jurisdiction shall, as to such jurisdiction, be
                           ineffective to the extent of such prohibition or
                           unenforceability without invalidating the remaining
                           provisions hereof or thereof or affecting the
                           validity of enforceability of such provision in any
                           other jurisdiction.

                                       3

<PAGE>

                  h.       Integration. This Agreement sets forth the entire
                           understanding of the parties hereto with respect to
                           all matters contemplated hereby and thereby
                           supersedes any previous Agreements and understanding
                           among them concerning such matters. No statements or
                           Agreements, oral or written, made prior to or at the
                           signing thereof, shall vary, waive or modify the
                           written terms thereof.

                  i.       Binding effect; Governing Law. This Agreement shall
                           be binding upon and enure to the benefit of the
                           Seller and the Purchaser and their respective
                           successor and assigns, except that neither the Seller
                           or the Purchaser may assign this Agreement, or the
                           rights and obligations hereunder, without the prior
                           written consent of the other parties to this
                           Agreement. This Agreement shall be governed by, and
                           construed in accordance with, the laws of the State
                           of New York applicable to the Agreements and
                           instruments executed and performed in the State of
                           New York.

                  j.       Executed in Counterparts. This Agreement may be
                           executed in any number of counterparts, each of which
                           when so executed shall be deemed to be an original
                           and all of which when taken together shall constitute
                           but one and the same Agreement.

IN WITNESS WHEREOF, THE PARTIES HAVE DULY EXECUTED THIS AGREEMENT.

Date:                                                Date:

PURCHASER:                                           SELLER:

Cyberstation Computers and Support Inc.     Platinum Telecommunications Inc.

--------------------------                  ----------------------------------
Joseph J. Alves                             Zeeshan Saeed
President, CEO                              Director

                                            ----------------------------------
                                            Zeeshan Saeed

Witness:

--------------------------
Sandra Hrab

                                       4

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