Document:

Exhibit 10.27

 

SEVENTH MODIFICATION OF AMENDED AND RESTATED

REVOLVING
LINE OF CREDIT LOAN AGREEMENT, TERM LOANS

AGREEMENT
AND SECURITY AGREEMENT

 

THIS SEVENTH MODIFICATION OF AMENDED AND
RESTATED REVOLVING LINE OF CREDIT LOAN AGREEMENT, TERM LOANS AGREEMENT AND
SECURITY AGREEMENT (“Seventh Modification”) is entered into effective as of the
         day of July, 2003, by and
between On-Site Sourcing, Inc., a Delaware corporation (the “Borrower”), with
its principal office at 832 North Henry Street, Alexandria, Virginia 22314, and
Wachovia Bank, National Association, formerly known as First Union National
Bank (the “Lender”), a national banking association with an address of 1970
Chain Bridge Road, McLean, Virginia 22102.

 

RECITALS:

 

R-1. Lender
made a loan in the form of a revolving line of credit (“Line of Credit”) to
Borrower, currently in the maximum principal sum of Seven Million and 00/100
Dollars ($7,000,000.00), evidenced by an Amended and Restated Revolving Note,
dated as of May 30, 2001, as modified by that certain First Modification
of Amended and Restated Revolving Note dated as of May 23, 2002, and as
further modified by that certain Second Modification of Amended and Restated
Revolving Note dated as of March 24, 2003 (as so modified, the “Revolving
Note”). The Line of Credit is governed and secured by that certain Amended and
Restated Revolving Line of Credit Loan Agreement, Term Loans Agreement and
Security Agreement executed by Borrower and Lender dated as of May 30,
2001, as modified by that certain First Modification of Amended and Restated
Revolving Line of Credit Loan Agreement, Term Loans Agreement and Security
Agreement dated as of July 2, 2001, that certain Second Modification of
Amended and Restated Revolving Line of Credit Loan Agreement, Term Loans
Agreement and Security Agreement dated as of May 23, 2002, that certain
Third Modification of Amended and Restated Revolving Line of Credit Loan
Agreement, Term Loans Agreement and Security Agreement dated as of
September 25, 2002, that certain Fourth Modification of Amended and
Restated Revolving Line of Credit Loan Agreement, Term Loans Agreement and
Security Agreement dated as of February 3, 2003, that certain Fifth
Modification of Amended and Restated Revolving Line of Credit Loan Agreement, Term
Loans Agreement and Security Agreement dated as of March 24, 2003, and
that certain Sixth Modification of Amended and Restated Revolving Line of
Credit Loan Agreement, Term Loans Agreement and Security Agreement dated as of
May 6, 2003 (as so modified, the “Loan Agreement”).

 

R-2. The Loan
Agreement also governs and secures (1) that certain term loan to Borrower and
North Henry Street Realty Company, LLC, a Delaware limited liability company
(“North Henry”), in the original principal amount of Five Million Eight Hundred
Thousand and 00/100 Dollars ($5,800,000.00), as evidenced by that certain
Commercial Note executed by Borrower and North Henry dated as of
November 15, 2000; (2) that certain term loan to Borrower in the original
principal amount of One Million Seven Hundred Eighty Thousand Three Hundred and
00/100 Dollars ($1,780,300.00), as evidenced by that certain Term Note dated
July 2, 2001 (the “$1,780,300.00 Note”); and (3) that certain term loan to
Borrower in the original principal amount of One Million Two Hundred Fifty
Thousand and 00/100 Dollars ($1,250,000.00), as evidenced by that certain Term
Note dated September 25, 2002 (the “$1,250,000.00 Note”).

 

 

R-3.
Contemporaneous herewith, Borrower and Lender have executed that certain Third
Modification of Amended and Restated Revolving Note of even date herewith (the
“Revolving Note Modification”) to reduce the Principal Sum (as defined in the
Revolving Note) from Seven Million and 00/100 Dollars ($7,000,000.00) to Five
Million and 00/100 Dollars ($5,000,000.00), to increase the interest rate, and
for certain other purposes.

 

R-4.
Contemporaneous herewith, Borrower and Lender have executed a Consolidated,
Amended and Restated Term Note of even date herewith (the “Consolidated Note”),
thereby consolidating, amending and restating the terms and provisions of the
$1,780,300.00 Note and $1,250,000.00 Note as set forth in the Consolidated
Note.

 

R-5. Borrower
and Lender have agreed to amend the Loan Agreement to modify certain financial
covenants, to modify the maximum principal amount which may be advanced under
the Line of Credit, to provide for the Loan Agreement to govern and secure the
Revolving Note as modified by the Revolving Note Modification and to provide
for the Loan Agreement to govern and secure the Consolidated Note, and for
certain other purposes as more fully set forth herein.

 

NOW,
THEREFORE, in consideration of the premises, the mutual agreements herein
contained, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Borrower and the Lender
hereby agree as follows:

 

1.                                       Capitalized Terms. Capitalized terms
not otherwise defined herein shall have the meanings as set forth for such
terms in the Loan Agreement.

 

2.                                       Warranties and Representations. To
induce the Lender to enter into this Seventh Modification, the Borrower
warrants and represents to the Lender that:

 

a.                                       The
Borrower’s books and records properly reflect the Borrower’s financial
condition, and no material adverse change in the Borrower’s financial condition
has occurred since the last date that the Borrower provided financial reports
to the Lender; and

 

b.                                      No
litigation is pending or threatened against the Borrower of which the Borrower
has not informed the Lender in writing; and

 

c.                                       The
Borrower is in compliance with all provisions of the Loan Agreement and with
all applicable laws and regulations; and

 

d.                                      Borrower
has the power and authority to enter into this Seventh Modification, to perform
its obligations hereunder, to execute all documents being executed and
delivered in connection herewith, and to incur the obligations provided for
herein, 

 

2

 

all of which
have been duly authorized and approved in accordance with the Borrower’s
organizational documents; and

 

e.                                       This
Seventh Modification, together with all documents executed in connection
herewith or pursuant hereto, constitute the valid and legally binding
obligations of the Borrower in accordance with their respective terms; and

 

f.                                         The
Borrower’s obligations under the Loan Documents (as defined in the Loan
Agreement, as modified hereby), including without limitation, Borrower’s
obligations under the Revolving Note as modified by the Revolving Note
Modification and Borrower’s obligations under the Consolidated Note, are valid
and enforceable obligations, and the execution and delivery of this Seventh
Modification and any other documents executed in connection herewith shall not
be construed as a novation of the Loan Agreement or the other Loan Documents.

 

3.                                       Definition of Funds Flow Coverage Ratio.  The definition of “Funds Flow Coverage
Ratio” set forth in Section 1.1. of the Loan Agreement is deleted in its
entirety and restated as follows:

 

““Funds Flow
Coverage Ratio” means (a) the Borrower’s net profit, plus depreciation, plus
amortization, plus cash proceeds from the sale of treasury stock, minus
dividends, withdrawals and non-cash income, minus capital expenditures; divided
by (b) the sum of the current maturities of long term debt plus capital lease
obligations.”

 

4.                                       Definition of Interest Coverage Ratio.  The definition of “Interest Coverage Ratio”
set forth in Section 1.1. of the Loan Agreement is hereby deleted in its
entirety.

 

5.                                       Definition of Loan Documents.  The definition of “Loan Documents” set forth
in Section 1.1. of the Loan Agreement is deleted in its entirety and restated
as follows:

 

““Loan
Documents” means this Agreement, the Revolving Note, the Term Note #1, the Term
Note #2, the Deed of Trust and/or any other document executed by the Borrower
or any other Person evidencing, securing, guaranteeing or relating to the
Revolving Loan or Term Loans, as such documents or instruments may be amended,
modified or extended from time to time.”

 

6.                                       Definition of Maximum Revolving Commitment Amount.
The definition of “Maximum Revolving Commitment Amount” set forth in Section
1.1. of the Loan Agreement is deleted in its entirety and restated as follows:

 

3

 

““Maximum
Revolving Commitment Amount” means Five Million and 00/100 Dollars
($5,000,000.00), or such lessor amount that Borrower may request as hereinafter
provided.”

 

7.                                       Definition of Revolving Loan.  The definition of “Revolving Loan”
set forth in Section 1.1. of the Loan Agreement is deleted in its entirety and
restated as follows:

 

““Revolving
Loan” means the Revolving Loan facility made available by Lender to
Borrower pursuant to this Agreement in the maximum principal amount of Five
Million and 00/100 Dollars ($5,000,000.00), evidenced by the Revolving Note.”

 

8.                                       Definition of Revolving Note.  The definition of “Revolving Note”
set forth in Section 1.1. of the Loan Agreement is deleted in its entirety and
restated as follows:

 

““Revolving
Note” means the Amended and Restated Revolving Note executed by Borrower,
dated as of May 30, 2001, as modified and amended from time to time, in
the maximum principal amount of Five Million and 00/100 Dollars
($5,000,000.00), payable to the order of the Lender, and evidencing Borrower’s
obligation to repay the Revolving Loan.”

 

9.                                       Definition of Term Loan #2.  The definition of “Term Loan #2” set
forth in Section 1.1. of the Loan Agreement is deleted in its entirety and
restated as follows:

 

““Term Loan
#2” means the Term loan facility made available by Lender to Borrower, in
the original principal amount of One Million Six Hundred Thousand and 00/100
Dollars ($1,600,000.00), evidenced by Term Note #2.”

 

10.                                 Definition of Term Note #2.  The definition of “Term Note #2” set
forth in Section 1.1. of the Loan Agreement is deleted in its entirety and
restated as follows:

 

““Term Note
#2” means the Consolidated, Amended and Restated Term Note executed by
Borrower, in the amount of One Million Six Hundred Thousand and 00/100 Dollars
($1,600,000.00), payable to the order of the Lender, and evidencing the
obligation of Borrower to repay Term Loan #2.”

 

11.                                 Definitions of Term Loan #3, Term Note #3, Term Loan
#4 and Term Note #4.  The
definitions of “Term Loan #3”, “Term Note #3”, “Term Loan #4”
and “Term Note #4” set forth in Section 1.1. of the Loan Agreement are
deleted in their entirety.

 

12.                                 Definition of Term Loans.  The definition of “Term Loans” set
forth in Section 1.1. of the Loan Agreement is deleted in its entirety and
restated as follows:

 

4

 

““Term
Loans” means Term Loan #1 and Term Loan #2, jointly and severally.”

 

13.                                 Definition of Term Notes.  The definition of “Term Notes” set
forth in Section 1.1. of the Loan Agreement is deleted in its entirety and
restated as follows:

 

““Term
Notes” means Term Note #1 and Term Note #2, jointly and severally.”

 

14.                                 Tangible Net Worth Covenant.  Section 6.14 a. of the Loan Agreement
entitled “Tangible Net Worth” is hereby deleted in its entirety and
restated as follows:

 

“a.   Tangible Net Worth.  A minimum Tangible Net Worth of Eight
Million Five Hundred Thousand and 00/100 Dollars ($8,500,000.00) at all times
from the date of this Agreement.” 

 

15.                                 Net Loss Covenant.  The following new section is hereby added as
subsection e. to Section 6.14 of the Loan Agreement:

 

“e.    Net Loss Covenant.  A maximum after tax net loss for any fiscal
quarter of Borrower of Two Hundred Thousand and 00/100 Dollars ($200,000.00),
and a maximum after tax net loss for the Borrower’s fiscal year 2003 of Three
Hundred Fifty Thousand and 00/100 Dollars ($350,000.00). For purposes of this
covenant, “Net Loss” shall have the meaning ascribed to such term under GAAP.”

 

16.                                 Funds Flow Coverage Ratio.  The revised Funds Flow Coverage Ratio under
the Loan Agreement resulting from the revisions to the definition of the term
“Funds Flow Coverage Ratio” as set forth in this Seventh Modification shall be
initially measured on September 30, 2003.

 

17.                                 Acquisitions.  Section 7.4 of the Loan Agreement entitled “Acquisitions” is
hereby deleted in its entirety and restated as follows:

 

“7.4   Acquisitions.  Purchase, lease or otherwise acquire the
assets, business, goodwill or securities of any other Person, including,
without limitation, shares of stock in corporations, partnership interests in
general or limited partnerships or membership interests in limited liability
companies, or acquire any other business.”

 

18.                                 Capital Expenditures.  Section 7.13 of the Loan Agreement entitled “Capital
Expenditures” is hereby deleted in its entirety and restated as follows:

 

“7.13   Capital Expenditures.  Make capital expenditures in excess of One
Hundred Twenty Five Thousand and 00/100 Dollars ($125,000.00) in any fiscal
quarter of Borrower; provided however that Borrower may make capital
expenditures not to exceed a total of Two Hundred Seventy Five Thousand and
00/100 Dollars ($275,000.00) for any fiscal quarter of Borrower,

 

5

 

provided
Borrower has received, prior to making a capital expenditure in excess of
$125,000.00 for any fiscal quarter (the “Additional Capital Expenditure”),
payments during the fiscal quarter in which such Additional Capital Expenditure
is to be incurred, from the exercise of stock options by existing shareholders
of Borrower, in an aggregate amount equal to or greater than the amount of such
Additional Capital Expenditure.”

 

19.                                 Fees and Costs.  The Borrower promises to pay, on demand, all
costs incurred by the Lender for the preparation of this Seventh Modification,
any additional documents and any other expenses incurred by Lender in relation
to this Seventh Modification (including without limitation, a loan fee of Five
Thousand and 00/100 Dollars ($5,000.00) and all attorneys fees).

 

20.                                 Advance of Funds for Fees, Costs and Expenses.  The Borrower authorizes the Lender to
advance funds to itself or to third parties to pay the fees, costs and expenses
listed in this Seventh Modification, which advances shall be deemed to be
Advances to the Borrower under the Loan Agreement.

 

21.                                 ARBITRATION: PROVISIONS IN THE LOAN
AGREEMENT REGARDING ARBITRATION ARE INCORPORATED HEREIN BY REFERENCE AS IF
FULLY SET FORTH HEREIN.

 

22.                                 No Offsets or Defenses.  Except as modified by this Seventh
Modification, the Loan Agreement remains in full force and effect and
unmodified. Borrower warrants and represents that it has no offsets or defenses
to its obligations under the Loan Agreement, as so modified, and the other Loan
Documents.

 

23.                                 Release and Waiver.  In consideration of Lender’s agreement to
this Seventh Modification, the Borrower hereby releases and waives any and all
claims of any kind that it may have against the Lender as of the date of this
Seventh Modification arising out of or relating to the Loan Agreement, as
amended by this Seventh Modification.

 

6

 

IN WITNESS
WHEREOF, the parties have executed this Seventh Modification as of the date and
year first written above.

 

	
   

  	
  ON-SITE
  SOURCING, INC., a Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WACHOVIA
  BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

STATE OF VIRGINIA

COUNTY OF
                         :
to wit:

 

I, the
undersigned Notary Public in and for the State and County aforesaid, do hereby
certify that
                                as
                                     
of On-Site Sourcing, Inc., whose name is signed to the foregoing Seventh
Modification of Amended and Restated Revolving Line of Credit Loan Agreement,
Term Loans Agreement and Security Agreement, personally appeared before me within the aforesaid
jurisdiction and acknowledged the same.

 

GIVEN under my
hand and seal this        day of
                             ,
2003.

 

 

	
   

  	
   

  	
   

  	
   

  
	
  a

  	
   

  	
  Notary Public

  

 

My Commission expires:

 

7

 

STATE OF VIRGINIA

COUNTY OF
                         :
to wit:

 

I, the
undersigned Notary Public in and for the State and County aforesaid, do hereby
certify that as of Wachovia Bank, National Association, whose name is signed to
the foregoing Seventh Modification of Amended and Restated Revolving Line of
Credit Loan Agreement, Term Loans Agreement and Security Agreement, personally
appeared before me within the aforesaid jurisdiction and acknowledged the same.

 

GIVEN under my
hand and seal this         day of
                             ,
2003.

 

 

	
   

  	
   

  	
   

  	
   

  
	
  a

  	
   

  	
  Notary Public

  

 

My Commission expires:

 

8

 

CONSENT
OF NORTH HENRY STREET REALTY COMPANY, LLC TO SEVENTH

MODIFICATION
TO AMENDED AND RESTATED REVOLVING LINE OF

CREDIT
LOAN AGREEMENT, TERM LOANS AGREEMENT AND SECURITY

AGREEMENT
AND RELATED DOCUMENTS

 

North Henry
Street Realty Company, LLC, a Delaware limited liability company (“North
Henry”), the grantor under that certain Deed of Trust, Assignment of Rents and
Security Agreement dated as of November 15, 2000 (the “Deed of Trust”),
benefitting Wachovia Bank, National Association (formerly known as First Union
National Bank) (“Wachovia”) to secure, among other things, that certain
Commercial Note executed and made payable by On-Site Sourcing, Inc., a Delaware
corporation, and North Henry to Wachovia in the original principal amount of
Five Million Eight Hundred Thousand and 00/100 Dollars ($5,800,000.00), does
hereby acknowledge, consent and agree to the annexed Seventh Modification to
Amended and Restated Revolving Line of Credit Loan Agreement, Term Loans
Agreement and Security Agreement (the “Seventh Modification”), and all
documents executed in connection with the Seventh Modification, and North Henry
represents, warrants and agrees that North Henry has no offsets or defenses to
the Deed of Trust, the Seventh Modification and the Amended and Restated
Revolving Line of Credit Loan Agreement, Term Loans Agreement and Security
Agreement as modified thereby and as previously modified, or any other document
or agreement to which North Henry is bound or which was executed for the
benefit of Wachovia.

 

 

	
   

  	
  NORTH HENRY STREET REALTY COMPANY,

  
	
   

  	
  LLC, a Delaware limited liability company,

  
	
   

  	
  By: ON-SITE SOURCING, INC., a Delaware

  
	
   

  	
  corporation, as its sole manager and sole
  member

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  [SEAL]

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

9

 

	
  State of Virginia

  	
  )

  
	
  County of 

  	
  ) To Wit:

  

 

Acknowledged
before me by
                                                      
as
                          of
On-Site Sourcing, Inc., a Delaware corporation, as the sole manager and member
of North Henry Street Realty Company, LLC, a Delaware limited liability company
this       day of
                                   ,
2003.

 

 

	
  [SEAL]

  	
   

  	
   

  
	
   

  	
  Notary Public

  

 

My commission expires: 

 

10Exhibit
10.28

 

TO BE ATTACHED
TO

THE ORIGINAL
AMENDED AND RESTATED REVOLVING NOTE

 

THIRD
MODIFICATION OF

AMENDED
AND RESTATED REVOLVING NOTE

 

THIS THIRD
MODIFICATION OF AMENDED AND RESTATED REVOLVING NOTE (the “Note Modification”)
is dated as of the           day
of July, 2003, and is made by and between ON-SITE
SOURCING, INC., a Delaware corporation (the “Borrower”), having an
address at 832 North Henry Street, Alexandria, Virginia 22314, and WACHOVIA BANK, NATIONAL ASSOCIATION,
successor-in-interest to First Union National Bank, a national banking
association (the “Lender”), having an address at 1970 Chain Bridge Road,
McLean, Virginia  22102.

 

RECITALS:

 

R-1.                           The
Lender made a loan in the form of a revolving line of credit (the “Line of
Credit”) to the Borrower in the maximum principal sum of $7,000,000.00,
evidenced by an Amended and Restated Revolving Note dated as of May 30,
2001, as modified by that certain First Modification of Amended and Restated
Revolving Note dated as of May 23, 2002, and as further modified by that
certain Second Modification of Amended and Restated Revolving Note dated as of
March 24, 2003 (as so modified, the “Note”).

 

R-2.                           The
Line of Credit is governed and secured by that certain Amended and Restated
Revolving Line of Credit Loan Agreement, Term Loans Agreement and Security
Agreement executed by the Borrower and the Lender dated as of May 30,
2001, as modified by that certain First Modification of Amended and Restated
Revolving Line of Credit Loan Agreement, Term Loans Agreement and Security
Agreement dated as of July 2, 2001, that certain Second Modification of
Amended and Restated Revolving Line of Credit Loan Agreement, Term Loans
Agreement and Security Agreement dated as of May 23, 2002, that certain
Third Modification of Amended and Restated Revolving Line of Credit Loan
Agreement, Term Loans Agreement and Security Agreement dated as of
September 25, 2002, that certain Fourth Modification of Amended and
Restated Revolving Line of Credit Loan Agreement, Term Loans Agreement and
Security Agreement dated as of February 3, 2003, that certain Fifth
Modification of Amended and Restated Revolving Line of Credit Loan Agreement,
Term Loans Agreement and Security Agreement dated as of March 24, 2003,
and that certain Sixth Modification of Amended and Restated Revolving Line of
Credit Loan Agreement, Term Loans Agreement and Security Agreement dated as of
May 6, 2003 (collectively, the “Original Loan Agreement”).

 

R-3.                           The
Borrower and the Lender have agreed to modify the Note to reduce the Principal
Sum (as defined in the Note) from Seven Million and 00/100 Dollars
($7,000,000.00) to Five Million and 00/100 Dollars ($5,000,000.00), to modify
the interest rate, and for certain other purposes.  In addition to and in conjunction with entering into the Note
Modification, Borrower and Lender have contemporaneously entered into a certain
Seventh Modification of Amended and Restated Revolving Line of Credit Loan
Agreement, Term Loans Agreement and

 

 

Security Agreement of even date herewith (the
“Seventh Loan Agreement Modification”), thereby, among other things, reducing
the “Maximum Revolving Commitment Amount” (as defined in the Original Loan
Agreement) from Seven Million and 00/100 Dollars ($7,000,000.00) to Five
Million and 00/100 Dollars ($5,000,000.00), and modifying the Original Loan
Agreement to reflect that it governs and secures the Note, as modified by this
Note Modification (the Original Loan Agreement, as modified by the Seventh Loan
Agreement Modification, being collectively referred to as the “Loan
Agreement”).

 

NOW,
THEREFORE, in consideration of the mutual agreements and covenants contained in
this Agreement, the parties agree as follows:

 

1.                                       Loan
Balance.  The parties affirm and
agree that  the outstanding principal
balance due and unpaid under the Note through the close of business of
July          , 2003  is
                                                 ($                       ).

 

2.                                       Principal
Sum.  The Principal Sum, as defined
in the Note, is hereby modified and decreased from Seven Million and 00/100
Dollars ($7,000,000.00) to Five Million and 00/100 Dollars ($5,000,000.00).

 

3.                                       Interest
Rate. Commencing as of the date of this Note Modification, interest on the
entire principal balance outstanding from time to time shall accrue at a
fluctuating annual rate equal to the LIBOR Market Index Rate (hereinafter
defined) in effect from time to time plus Two and Thirty One Hundredths
percentage points (2.30%).    The LIBOR
Market Index Rate, for any day, is the rate for 1 month U.S. dollar deposits as
reported on Telerate page 3750 as of 11:00 a.m., London time, on such day, or
if such day is not a London business day, then the immediately preceding London
business day (or if  not  so reported,  then  as determined by
Lender from another recognized source or interbank quotation).  Absent manifest error, the Lender’s
determination of the LIBOR Market Index Rate for any day shall be conclusive.

 

The rate of
interest that shall accrue under this Note shall change immediately upon any change
in the LIBOR Market Index Rate.

 

If the LIBOR
Market Index Rate is discontinued or unavailable, interest on the outstanding
principal balance shall accrue at an annual rate equal to the Prime Rate (as
defined in the Note).

 

All interest
payable under the terms of the Note shall be calculated by applying a daily
interest rate, determined by multiplying the outstanding principal balance by
the applicable annual interest rate and dividing the resulting product by 360,
to the actual number of days principal is outstanding.

 

2

 

As a result of
the modifications set forth in this Note Modification, Borrower shall no longer
have the option to elect to have interest accrue on the outstanding principal
balance owing under the Note at the Lender’s Prime Rate.

 

4.                                       Payments
and Maturity.  The unpaid Principal
Sum, together with interest thereon at the rate or rates provided in the Note
as modified by this Note Modification, shall be payable as follows:

 

a.                                       Interest
shall continue to be due and payable monthly, commencing on the first day of
the first calendar month after the date of this Note Modification, and on the
first day of each succeeding calendar month.

 

b.                                      Unless
sooner paid, the unpaid Principal Sum, together with all interest accrued and
unpaid thereon, and all other amounts owing under this Note shall be due and
payable in full on May 31, 2004 (the “Maturity Date”).  If the Loan Agreement provides for the Borrower
to make additional payments on account of the Principal Sum from time to time,
Borrower promises to make those payments at the time and in the manner
specified in the Loan Agreement.

 

5.                                       Loan
Agreement.  The Note, as modified by
this Note Modification, and the loan evidenced thereby, shall be governed and
secured by the Loan Agreement.

 

6.                                       Affirmation
of Provisions.  Except as modified
by this Note Modification, the provisions of the Note are hereby reaffirmed and
remain in full force and effect.  The
Borrower warrants that it has no offsets or defenses against the Note, as
modified.  If the term Borrower
comprises more than one person or entity, the liability of such persons or
entities hereunder shall be joint and several.

 

IN WITNESS
WHEREOF, the parties to this Third Modification of Amended and Restated
Revolving Note have set their hands and seals as of the date and year first
written above, the Lender having signed this Third Modification of Amended and
Restated Revolving Note only for the purposes of consenting to the
modifications herein contained.

 

(Signatures
and Notary Acknowledgments on following pages)

 

 

	
   

  	
  ON-SITE SOURCING, INC., a Delaware 

  corporation

  

 

3

 

	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WACHOVIA BANK, NATIONAL

  
	
   

  	
  ASSOCIATION, successor-in-interest to First

  
	
   

  	
  Union National Bank

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

COMMONWEALTH OF VIRGINIA 

COUNTY
OF                               :
to wit:

 

I, the
undersigned Notary Public in and for the aforesaid jurisdiction, do hereby certify
that
                                            
as
                                               of
On-Site Sourcing, Inc., whose name is signed to the foregoing Third
Modification of Amended and Restated Revolving Note, personally appeared before
me within the aforesaid jurisdiction and acknowledged the same.

 

GIVEN
under my hand and seal this
            day of
                       ,
2003.

 

	
   

  	
   

  	
   

  
	
   

  	
  Notary
  Public

  
	
   

  
	
  My
  Commission expires:

  	
   

  	
   

  
					

 

 

COMMONWEALTH OF VIRGINIA 

COUNTY
OF                               :
to wit:

 

4

 

I, the
undersigned Notary Public in and for the aforesaid jurisdiction, do hereby
certify that
                   as                              of
Wachovia Bank, National Association, successor-in-interest to First Union
National Bank, whose name is signed to the foregoing Third Modification of
Amended and Restated Revolving Note, personally appeared before me within the
aforesaid jurisdiction and acknowledged the same.

 

GIVEN
under my hand and seal this
           day of
                           ,
2003.

 

	
   

  	
   

  	
   

  
	
   

  	
  Notary
  Public

  
	
   

  
	
  My
  Commission expires:

  	
   

  	
   

  
					

 

5

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