Document:

<PAGE>   1
                                                                     Exhibit 4.6

THE SALE AND ISSUANCE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR
UNDER THE SECURITIES LAW OF ANY STATE OR OTHER JURISDICTION. THESE SECURITIES
HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH,
THE DISTRIBUTION THEREOF. THESE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED, OR
TRANSFERRED UNLESS (I) A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO
THESE SECURITIES AND SUCH OFFER, SALE, PLEDGE, OR TRANSFER IS IN COMPLIANCE WITH
APPLICABLE SECURITIES LAW OF ANY STATE OR OTHER JURISDICTION OR (II) THERE IS AN
OPINION OF COUNSEL OR OTHER EVIDENCE, IN EITHER CASE, SATISFACTORY TO THE ISSUER
OF THIS CERTIFICATE, THAT AN EXEMPTION THEREFROM IS AVAILABLE AND THAT SUCH
OFFER, SALE, PLEDGE, OR TRANSFER IS IN COMPLIANCE WITH APPLICABLE SECURITIES LAW
OF ANY STATE OR OTHER JURISDICTION.

WARRANT CERT. NO. 2000-01     WARRANTS TO PURCHASE 15,000 SHARES OF COMMON STOCK

DATE: AUGUST 15, 2000

                              TRANSFERABLE WARRANTS
                           TO PURCHASE COMMON STOCK OF
                              E-SYNC NETWORKS, INC.

         THIS CERTIFIES THAT, for value received, John C. Maxwell, III, with an
address of c/o Commercial Electronics, L.L.C., 375 Park Avenue, Suite 1604, New
York, New York 10152, or registered assignees, is entitled to purchase from
E-Sync Networks, Inc., a corporation organized and existing under the laws of
the State of Delaware (hereinafter called the "Company"), at a purchase price
equal to the "Exercise Price" (as hereinafter defined), at any time from and
after the date hereof to and including the "Final Exercise Date" (as hereinafter
defined), fifteen thousand (15,000) shares of the Company's Common Stock, $.01
par value (the "Warrant Shares"), subject, however, to the provisions and upon
the terms and conditions hereinafter set forth. The Exercise Price shall
initially be Five Dollars and Fifty Cents ($5.50) per share, subject to
adjustment as hereinafter provided.

         Certain capitalized terms used in this Warrant Certificate and not
otherwise defined are defined in paragraph 4 hereof. By accepting this Warrant
Certificate, the holder agrees to be bound by the terms hereof.

         THESE WARRANTS ARE SUBJECT TO THE FOLLOWING TERMS AND CONDITIONS:

         1. (a) Exercise of Warrants. The rights represented by this Warrant
Certificate may be exercised by the registered holder hereof, in whole or in
part (but not as to a fractional share of Common
<PAGE>   2
Stock), by (i) the delivery of this Warrant Certificate, together with a
properly completed Subscription Form, to the principal office of the Company at
35 Nutmeg Drive, Trumbull, Connecticut 06611 (or such other office or agency of
the Company as it may designate by notice in writing to the holder hereof) and
(ii) payment to the Company, in immediately available funds, of the Exercise
Price for the Warrant Shares being purchased. Certificates for the Warrant
Shares so purchased (together with a cash adjustment in lieu of any fraction of
a share) shall be delivered to the holder hereof within a reasonable time, not
exceeding twenty (20) business days, after the rights represented by this
Warrant Certificate shall have been so exercised and paid for, and, unless these
Warrants have expired, a new Warrant Certificate representing the number of
Warrants, if any, with respect to which this Warrant Certificate shall not then
have been exercised, in all other respects identical with this Warrant
Certificate, shall also be issued and delivered to the holder hereof within such
time, or appropriate notation may be made on this Warrant Certificate and the
same returned to such holder.

                  (b) Transfer Restriction Legend. Each certificate for Warrant
Shares issued upon exercise of these Warrants shall bear the legends appearing
on the first page of this Warrant Certificate.

         2. Special Agreements of the Company. The Company covenants and agrees
that:

                  (a) Character of Warrant Shares. All Warrant Shares which may
be issued upon the exercise of the Warrants represented hereby, upon issuance,
will be duly authorized, validly issued, fully paid and non-assessable and free
from all taxes, liens and charges with respect to the issue thereof, and without
limiting the generality of the foregoing, that it will take from to time all
such action as may be requisite to ensure that the par value per share (if any)
of the Common Stock is at all times equal to or less than the then effective
Exercise Price, and that it will refrain from taking any action which could
pursuant to the terms of the Warrants result in the Exercise Price per share
being less than the par value per share of the Common Stock;

                  (b) No Violations. The Company will take all such action as
may be necessary to ensure that Warrant Shares may be so issued without
violation of any applicable United States state or federal law or regulation, or
of any requirements of any securities exchange or inter-dealer quotation system
upon which the Common Stock of the Company may be listed or quoted;

                  (c) Actions in Avoidance. The Company will not, by amendment
of its Certificate or Articles of Incorporation or through any reorganization,
transfer of assets, consolidation, merger, issue or sale of securities or
otherwise, avoid or take any action which would have the effect of avoiding the
observance or performance of any of the terms to be observed or performed
hereunder by the Company, but will at all times in good faith assist in carrying
out all of the provisions of this Warrant Certificate and in taking all of such
action as may be necessary or appropriate in order to protect the rights of the
holders of these Warrants; and

                  (d) Financial Information. The Company will, if requested,
provide each Warrant holder copies of all annual, quarterly and current reports
required to be filed by it pursuant to Section 13 or 15 of the Securities
Exchange Act of 1934, as amended, and in addition, promptly after requested,
such other information concerning the Company as any Warrant holder may
reasonably require (i) in order to comply with any law or governmental
regulation, order of any court, or order, inquiry or investigation of any
governmental agency or instrumentality, or (ii) in order to exercise any right
or privilege of such
<PAGE>   3
Warrant holder or to enforce any obligation of the Company under the Warrants or
any agreement or instrument executed and delivered in connection therewith.

         3. (a) Certain Adjustments. The Exercise Price hereof, but not the
number of shares of Common Stock that may be purchased upon the full exercise of
this Warrant, shall be reduced on each of the following dates to the amount set
forth opposite thereto if, as at the close of business on any such date, the
indebtedness evidenced by that Subordinated Term Promissory Note of even date
herewith (the "Note"), between the Company, as maker, and the initial registered
holder of this Warrant, as payee, remains unpaid, in whole or in part:

<TABLE>
<CAPTION>
                  If the Note Remains Unpaid On:     The Exercise Price Shall Be Decreased To:
                  ------------------------------     -----------------------------------------
<S>                                                  <C>
                  November 15, 2000                  $4.95
                  February 15, 2001                  $4.40
                  April 15, 2000                     $3.85.
</TABLE>

No further adjustments will thereafter be made to the Exercise Price based
solely on the Note remaining unpaid. The Exercise Price hereof and the number of
shares of Common Stock that may be purchased upon the full exercise of this
Warrant shall further be subject to adjustment from time to time as hereinafter
provided. If any such adjustment shall occur before the passage of one or more
of the dates set forth in the foregoing table and while the Note remains unpaid,
the amount set forth in the table to which the Exercise Price may be reduced as
at a subsequent date set forth in the table shall be appropriately adjusted.

                  (b) Stock Dividends, Subdivisions, Split-Ups. If, at any time
prior to the Final Expiration Date, the number of shares of Common Stock
outstanding is increased by a stock dividend payable in shares of Common Stock
or by a subdivision or split-up of shares of Common Stock, then, following the
record date fixed for the determination of holders of Common Stock entitled to
receive such stock dividend, subdivision or split-up, the Exercise Price shall
be appropriately decreased in proportion to such increase in outstanding shares.

                  (c) Stock Combinations. If, at any time prior to the Final
Expiration Date, the number of shares of Common Stock outstanding is decreased
by a combination of the outstanding shares of Common Stock, then, following the
record date for such combination, the Exercise Price shall be appropriately
increased in proportion to such decrease in outstanding shares.

                  (d) Certain Dividends. If, at any time prior to the Final
Expiration Date, the Company shall declare a cash dividend upon its Common Stock
payable otherwise than out of earnings or earned surplus or shall distribute to
holders of its Common Stock shares of its capital stock (other than Common
Stock), stock or other securities of other persons, evidences of indebtedness
issued by the Company or other persons, assets (excluding cash dividends and
distributions) or options or rights (excluding options to purchase and rights to
subscribe for Common Stock or other securities of the Company convertible into
or exchangeable for Common Stock), then, in each such case, immediately
following the record date fixed for the determination of the holders of Common
Stock entitled to receive such dividend or distribution, the Exercise Price in
effect thereafter shall be determined by multiplying the Exercise Price in
effect immediately prior to such record date by a fraction of which the
numerator shall be an amount equal to the difference of (x) the Current Market
Price of one share of Common Stock
<PAGE>   4
minus (y) the fair market value (as determined by the Board of Directors of the
Company, whose determination shall be conclusive) of the stock, securities,
evidences of indebtedness, assets, options or rights so distributed in respect
of one share of Common Stock, and of which the denominator shall be such Current
Market Price.

                  (e) All calculations under this Section 3 shall be made to the
nearest cent or to the nearest share, as the case may be.

                  (f) Whenever the Exercise Price shall be increased or
decreased pursuant to subsections (b), (c) and/or (d) of this Section 3, the
number of shares of Common Stock acquirable upon the full exercise hereof shall
be increased (in the case of a decrease in the Exercise Price) or decreased (in
the case of an increase in the Exercise Price) to that number of shares of
Common Stock obtained by multiplying the number of shares for which this Warrant
was fully exercisable immediately before the event giving rise to the Exercise
Price adjustment by a fraction, the numerator of which is the Exercise Price
immediately prior to such event and the denominator of which is the Exercise
Price immediately upon the consummation of such event. Whenever the Exercise
Price shall be adjusted as provided in Section 3, the Company shall prepare a
statement showing the facts requiring such adjustment and the Exercise Price
that shall be in effect after such adjustment. The Company shall cause a copy of
such statement to be sent by mail, first class postage prepaid, to the holder of
this Warrant at its address appearing on the Company's records. Where
appropriate, such copy may be given in advance and may be included as part of
the notice required to be mailed under the provisions of subsection (b) of this
Section 3.

                  (g) Adjustments made pursuant to clauses (b), (c) and (d)
above shall be made on the date such issuance, dividend, subdivision, split-up,
combination or distribution, as the case may be, is made, and shall become
effective at the opening of business on the business day next following the
record date for the determination of stockholders entitled to such dividend,
subdivision, split-up, combination or distribution.

                  (h) In the event the Company shall propose to take any action
of the types described in clauses (b), (c) or (d) of this Section 3, the Company
shall forward, at the same time and in the same manner, to the Holder of this
Warrant such notice, if any, which the Company shall give to the holders of
capital stock of the Company.

                  (i) In any case in which the provisions of this Section 3
shall require that an adjustment shall become effective immediately after a
record date for an event, the Company may defer until the occurrence of such
event issuing to the holder of all or any part of this Warrant which is
exercised after such record date and before the occurrence of such event the
additional shares of capital stock issuable upon such exercise by reason of the
adjustment required by such event over and above the shares of capital stock
issuable upon such exercise before giving effect to such adjustment exercise;
provided, however, that the Company shall deliver to such holder a due bill or
other appropriate instrument evidencing such holder's right to receive such
additional shares upon the occurrence of the event requiring such adjustment.

         4. Definitions. The terms defined in this paragraph, whenever used in
this Warrant Certificate, shall, unless the context otherwise requires, have the
respective meanings hereinafter specified:
<PAGE>   5
                  (a) "Common Stock" shall mean and include the Company's Common
Stock, $.01 par value, and shall also include in case of any reorganization,
reclassification, consolidation, merger or sale of assets, the stock, securities
or assets provided to holders of the Company's Common Stock in exchange
therefor.

                  (b) "Company" shall mean E-Sync Networks, Inc. and also
include any successor thereto with respect to the obligations hereunder, by
merger, consolidation or otherwise.

                  (c) "Current Market Price" shall mean, at any date and with
respect to one share of Common Stock, the average of the daily closing prices
for the 30 consecutive business days ending no more than five business days
before the day in question (as adjusted for any stock dividend, split,
combination or reclassification that took effect during such 30 business day
period). The closing price for each day shall be the last reported sales price
regular way or, in case no such reported sales took place on such day, the
average of the last reported bid and asked prices regular way, in either case on
the principal national securities exchange on which the Common Stock is listed
or admitted to trading or as reported by Nasdaq (or if the Common Stock is not
at the time listed or admitted for trading on any such exchange or if prices of
the Common Stock are not reported by Nasdaq then such price shall be equal to
the average of the last reported bid and asked prices on such day as reported by
The National Quotation Bureau Incorporated or any similar reputable quotation
and reporting service, if such quotation is not reported by The National
Quotation Bureau Incorporated); provided, however, that if the Common Stock is
not traded in such manner that the quotations referred to herein are available
for the period required hereunder, the Current Market Price shall be determined
in good faith by the Board of Directors of the Company or, if such determination
cannot be made, by a nationally recognized independent investment banking firm
selected by the Board of Directors of the Company (or if such selection cannot
be made, by a nationally recognized independent investment banking firm selected
by the American Arbitration Association in accordance with its rules).

                  (d) "Final Exercise Date" shall mean August 15, 2005.

                  (e) "Warrant Certificate" shall mean this instrument
evidencing the Warrants issued to the Warrant holder on this date.

                  (f) "Warrant holder(s)" shall mean the registered holder(s) of
the Warrants.

                  (g) "Warrants" shall mean the Warrants represented by this
Warrant Certificate and all Warrants issued in exchange, transfer or replacement
or hereof or thereof.

                  (h) "Warrant Shares" shall mean the shares of Common Stock
purchased or purchasable by the holders of Warrants upon the exercise thereof
pursuant to paragraph 1.

         5. Exchange, Replacement and Assignability. This Warrant Certificate is
exchangeable, upon the surrender hereof by the holder hereof at the office or
agency of the Company described in paragraph 1, for new Warrant Certificates of
like tenor and date representing in the aggregate the right to purchase the
number of Warrant Shares which may be purchased hereunder, each of such new
Warrants to represent the right to purchase such number of Warrant Shares as
shall be designated by such holder
<PAGE>   6
hereof at the time of such surrender. Upon receipt of evidence satisfactory to
the Company of the loss, theft, destruction or mutilation of this Warrant
Certificate or any such new Warrant Certificates and, in the case of any such
loss, theft or destruction, of a bond of indemnity or other security
satisfactory to the Company, or, in the case of any such mutilation, upon
surrender or cancellation of such mutilated Warrant Certificate, the Company
will issue to the holder hereof a new Warrant Certificate of like tenor and
date, in lieu of this Warrant Certificate or such new Warrant Certificates,
representing the right to purchase the number of Warrant Shares which may be
purchased hereunder. Subject to compliance with paragraph 2, this Warrant and
all rights hereunder are transferable in whole or in part upon the books of the
Company by the registered holder hereof in person or by duly authorized
attorney, and a new Warrant Certificate shall be made and delivered by the
Company, of the same tenor and date as this Warrant Certificate but registered
in the name of the transferee, upon surrender of this Warrant Certificate, duly
endorsed, to the office or agency of the Company. All expenses, taxes (other
than stock transfer taxes, which shall be the obligation of the Warrant holder)
and other charges payable in connection with the preparation, execution and
delivery of Warrants pursuant to this paragraph 5 shall be paid by the Company.

         6. No Rights as Stockholder; Survival of Rights. Neither this Warrant
Certificate nor the Warrants represented hereby shall entitle the holder hereof
to any voting rights or any rights as a stockholder of the Company. The rights
and obligations of the Company, of the holder of these Warrants and of any
holder of Warrant Shares issued upon exercise of these Warrants shall survive
the exercise of these Warrants.

         7. Governing Law; Amendments and Waivers; Headings. The validity,
interpretation and performance of this Warrant Certificate and each of its terms
and provisions shall be governed by the laws of the State of Connecticut. No
provision of this Warrant Certificate may be changed, waived, discharged or
terminated except by an instrument in writing signed by the party against which
enforcement of the same is sought. The headings in this Warrant Certificate are
for purposes of reference only and shall not affect the meaning or construction
of any of the provisions hereof.

         8. Notices. Any notice or other document required or permitted to be
given or delivered to Warrant holders shall be delivered at, or sent by
certified or registered mail to each Warrant holder at, the address shown or to
such other address as shall have been furnished to the Company by such Warrant
holder. Any notice or other document required or permitted to be given or
delivered to the Company shall be delivered at, or sent by certified or
registered mail to the principal office of the Company at 35 Nutmeg Drive,
Trumbull, Connecticut 06611 Attention: Secretary, or such other address as shall
have been furnished to the Warrant holders by the Company.

         IN WITNESS WHEREOF, E-Sync Networks, Inc. has caused this Warrant
Certificate to be signed by its duly authorized officer under its corporate
seal, duly attested by its authorized officer, and to be dated as of August 15,
2000.

                                                     E-SYNC NETWORKS, INC.

                                                     By:
                                                         Name:
                                                         Title:<PAGE>   1
                                                                     Exhibit 4.7

                                     [LOGO]
                               SILICON VALLEY BANK

                     ACCOUNTS RECEIVABLE FINANCING AGREEMENT

         This ACCOUNTS RECEIVABLE FINANCING AGREEMENT (the "Agreement"), dated
as of September 22, 2000 is between Silicon Valley Bank, a California chartered
bank, ("Bank"), and E-SYNC NETWORKS, INC. a Delaware corporation, ("Borrower"),
whose address is 35 Nutmeg Drive, Trumbull, Connecticut 06611 and with a FAX
number of (203) 601-3176.

1. DEFINITIONS. In this Agreement:

         "ACCOUNTS" are all existing and later arising accounts, contract
rights, and other obligations owed Borrower in connection with its sale or lease
of goods (including licensing software and other technology) or provision of
services, all credit insurance, guaranties, other security and all merchandise
returned or reclaimed by Borrower and Borrower's Books relating to any of the
foregoing.

         "ACCOUNT BALANCE" is the aggregate outstanding Advances made hereunder.

         "ACCOUNT DEBTOR" is defined in the Code and shall include any person
liable on any Financed Receivable, such as, a guarantor of the Financed
Receivable and any issuer of a letter of credit or banker's acceptance.

         "ADJUSTED QUICK RATIO". A ratio of (i) Quick Assets to (ii) Current
Liabilities minus Deferred Revenue of at least 1.25 to 1.00.

         "ADJUSTMENTS" are all discounts, allowances, returns, disputes,
counterclaims, offsets, defenses, rights of recoupment, rights of return,
warranty claims, or short payments, asserted by or on behalf of any Account
Debtor for any Financed Receivable.

         "ADVANCE" is defined in Section 2.2.

         "ADVANCE RATE" is eighty percent (80%), net of deferred revenue and
offsets related to each specific Account Debtor, provided however, if Borrower
is able to maintain the Adjusted Quick Ratio then the Bank will not net out
deferred revenue, or another percentage as Bank establishes under Section 2.2.

         "APPLICABLE RATE" is a per annum rate equal to the "Prime Rate" plus
one and one half (1.50) percentage points.

         "BORROWER'S BOOKS" are all Borrower's books and records including
ledgers, records regarding Borrower's assets or liabilities, the Collateral,
business operations or financial condition and all computer programs or discs or
any equipment containing such information.

         "CODE" is the Uniform Commercial Code (presently M.G.L. Chapter 106) as
adopted by The Commonwealth of Massachusetts, as may be amended and in effect
from time to time.

         "COLLATERAL" is attached as Exhibit "A".

         "COLLATERAL HANDLING FEE" is defined in Section 3.5.

                                       1
<PAGE>   2
         "COLLECTIONS" are all funds received by Bank from or on behalf of an
Account Debtor for Financed Receivables.

         "COMPLIANCE CERTIFICATE" is attached as Exhibit "B".

         "CURRENT LIABILITIES" are the aggregate amount of Borrower's Total
Liabilities which mature within one (1) year.

         "DEFERRED REVENUE" is all amounts received in advance of performance
under contract and not yet recognized as revenue.

         "EARLY TERMINATION FEE" is defined in Section 3.6.

         "EVENT OF DEFAULT" is defined in Section 9.

         "FACILITY" is an extension of credit by Bank to Borrower in order to
finance Receivables with an aggregate Account Balance not exceeding the Facility
Amount.

         "FACILITY AMOUNT" is One Million Five Hundred Thousand Dollars
($1,500,000.00).

         "FACILITY FEE" is defined in Section 3.4.

         "FACILITY PERIOD" is the period beginning on this date and continuing
until SEPTEMBER 22, 2001, unless the period is terminated sooner by Bank with
notice to Borrower or by Borrower under Section 3.6.

         "FINANCE CHARGES" is defined in Section 3.2.

         "FINANCED RECEIVABLES" are Receivables which Bank finances by making an
Advance in accordance with the terms of this Agreement. A Financed Receivable
stops being a Financed Receivable (but remains Collateral) when the Advance made
for the Financed Receivable has been finally paid.

         "FINANCED RECEIVABLE BALANCE" is the total outstanding amount, at any
time, of all Financed Receivables.

         "GOOD FAITH DEPOSIT" is described in Section 3.9.

         "GUARANTOR" means any guarantor of the Obligations.

         "INELIGIBLE RECEIVABLE" is any Receivable:

     (A) that is unpaid (90) calendar days after the invoice date; or

     (B) that is owed by an Account Debtor that has filed, or has had filed
         against it, any bankruptcy case, assignment for the benefit of
         creditors, receivership, or Insolvency Proceeding or who has become
         insolvent (as defined in the United States Bankruptcy Code) or who is
         generally not paying its debts as they become due; or

     (C) for which there has been any breach of warranty or representation in
         Section 6 or any breach of any covenant in this Agreement; or

     (D) for which the Account Debtor asserts any discount, allowance, return,
         dispute, counterclaim, offset, defense, right of recoupment, right of
         return, warranty claim, or short payment.

         "INSOLVENCY PROCEEDINGS" are proceedings by or against any person under
the United States Bankruptcy Code, or any other bankruptcy or insolvency law,
including assignments for the benefit of creditors, compositions, extensions
generally with its creditors, or proceedings seeking reorganization,
arrangement, or other relief.

                                       2
<PAGE>   3
         "INVOICE TRANSMITTAL" shows Receivables which are requested by Borrower
for financing hereunder and which the Bank may finance and, for each Receivable,
includes the Account Debtor's, name, address, invoice amount, invoice date and
invoice number and is signed by Borrower's authorized representative.

         "LOCKBOX" is described in Section 6.2.

         "MINIMUM FINANCE CHARGE" is $4,575.00 per month, pro-rated for any
partial month (e.g., for the calendar months during which the term hereof
commences and terminates).

            "OBLIGATIONS" are all advances, liabilities, obligations, covenants
and duties owing, arising, due or payable by Borrower to Bank now or later under
this Agreement or any other document, instrument or agreement, account
(including those acquired by assignment) primary or secondary, including,
without limitation, all Advances, Finance Charges, Collateral Handling Fees,
interest, fees, expenses, professional fees and attorneys' fees, and/or other
amounts now or hereafter owing by Borrower to Bank.

         "PRIME RATE" is Bank's most recently announced "prime rate," even if it
is not Bank's lowest rate.

         "QUICK ASSETS" is, on any date, the Borrower's consolidated,
unrestricted cash, cash equivalents, net billed Receivables and investments with
maturities of fewer than 12 months determined according to GAAP.

         "RECEIVABLES" are all those accounts, receivables, chattel paper,
instruments, contract rights, documents, general intangibles, letters of credit,
drafts, bankers acceptances, and rights to payment, and all proceeds, including
their proceeds.

         "RECONCILIATION DAY" is the last calendar day of each month.

         "RECONCILIATION PERIOD" is each calendar month.

         "SUBORDINATED DEBT" is debt incurred by Borrower subordinated to
Borrower's debt to Bank (and identified as subordinated by Borrower and Bank).

         "TOTAL LIABILITIES" is on any day, obligations that should, under GAAP,
be classified as liabilities on Borrower's consolidated balance sheet, including
all Indebtedness, and current portion Subordinated Debt allowed to be paid, but
excluding all other Subordinated Debt.

2. FINANCING OF ACCOUNTS RECEIVABLE.

         2.1. REQUEST FOR ADVANCES. During the Facility Period, Borrower may
         request that Bank finance Receivables (which are not Ineligible
         Receivables), if there is not an Event of Default. Borrower will
         deliver an Invoice Transmittal for each Receivable it offers. Bank may
         rely on information on or with the Invoice Transmittal.

         2.2. ACCEPTANCE OF ACCOUNTS RECEIVABLE. Bank is not obligated to
         finance any Receivable. Bank may approve any Account Debtor's credit
         before agreeing to finance any Receivable. When Bank agrees to finance
         a Receivable, it will pay Borrower the Advance Rate multiplied by the
         face amount of the Receivable (the "Advance"). Bank may, in its
         discretion, change the percentage of the Advance Rate. When Bank makes
         an Advance, the Receivable becomes a "Financed Receivable." All
         representations and warranties in Section 6 must be true as of the date
         of the Invoice Transmittal and of the Advance and no Event of Default
         exists would occur as a result of the Advance. The aggregate amount of
         all Financed Receivables outstanding at any time may not exceed the
         Facility Amount.

                                       3
<PAGE>   4
3. COLLECTIONS, FINANCE CHARGES, REMITTANCES AND FEES. The Obligations shall be
subject to the following fees and Finance Charges. Fees and Finance Charges may,
in Bank's discretion, be charged as an Advance, and shall thereafter accrue fees
and Finance Charges as described below. Bank may, in its discretion, charge fees
and Finance Charges to Borrower's deposit account maintained with Bank.

         3.1. COLLECTIONS. Collections will be credited to the Financed
         Receivables Balance, but if there is an Event of Default, Bank may
         apply Collections to the Obligations in any order it chooses. If Bank
         receives a payment for both a Financed Receivable and a non Financed
         Receivable, the funds will first be applied to the Financed Receivable
         and, if there is not an Event of Default, the excess will be remitted
         to the Borrower, subject to Section 3.10.

         3.2. FINANCE CHARGES. In computing Finance Charges on the Obligations,
         all Collections received by Bank shall be deemed applied by Bank on
         account of the Obligations THREE (3) Business Days after receipt of the
         Collections. Borrower will pay a finance charge (the "Finance Charge"),
         which is equal to the greater of (i) the Applicable Rate multiplied by
         the number of days in the Reconciliation Period divided by 360, which
         is then multiplied by the outstanding average daily Financed Receivable
         Balance for that Reconciliation Period or (ii) the Minimum Finance
         Charge. After an Event of Default, Obligations accrue interest at five
         percent (5%) above the Applicable Rate effective immediately before the
         Event of Default.

         3.3. INTENTIONALLY OMITTED.

         3.4. FACILITY FEE. A fully earned, non-refundable facility fee of
         $15,000.00 is due upon execution of this Agreement (the "Facility
         Fee").

         3.5. COLLATERAL HANDLING FEE. On each Reconciliation Day, Borrower will
         pay to Bank a collateral handling fee, equal to one half percent (.50%)
         per month of the average daily Financed Receivable Balance outstanding
         during the applicable Reconciliation Period (the "Collateral Handling
         Fee"). After an Event of Default, the Collateral Handling Fee will
         increase an additional .50% effective immediately before the Event of
         Default.

         3.6. EARLY TERMINATION FEE. A fully earned, non-refundable early
         termination fee of $15,000.00 is due upon voluntary or involuntary full
         payment of the Obligations and termination of this Facility prior to
         SEPTEMBER __, 2001 unless the Obligations are paid in full from an
         initial advance from a loan agreement with Silicon Valley Bank (the
         "Early Termination Fee").

         3.7. ACCOUNTING. After each Reconciliation Period, Bank will provide an
         accounting of the transactions for that Reconciliation Period,
         including the amount of all Financed Receivables, all Collections,
         Adjustments, Finance Charges, and the Collateral Handling Fee. If
         Borrower does not object to the accounting in writing within thirty
         (30) days it is considered correct. All Finance Charges and other
         interest and fees are calculated on the basis of a 360 day year and
         actual days elapsed.

         3.8. DEDUCTIONS. Bank may deduct fees, Finance Charges and other
         amounts due from any Advances made or Collections received by Bank.

         3.9. GOOD FAITH DEPOSIT. Borrower has paid to Bank a Good Faith Deposit
         of $5,000.00 to initiate Bank's due diligence review process. Any
         portion of the deposit not utilized to pay expenses up to and including
         the date hereof will be applied to the Facility Fee.

                                       4
<PAGE>   5
         3.10. ACCOUNT COLLECTION SERVICES. All Borrowers' Receivables are to be
         paid to the same address and/or party and Borrower and Bank must agree
         on such address. If Bank collects all Receivables and there is not an
         Event of Default or an event that with notice or lapse of time will be
         an Event of Default, within FIVE (5) days of receipt of those
         collections, Bank will give Borrower, the Receivables collections it
         receives for Receivables other than Financed Receivables and/or amount
         in excess of the amount for which Bank has made an Advance to Borrower,
         less any amount due to Bank, such as the Finance Charge, the Collateral
         Handling Fee, other fees and expenses, or otherwise. This Section does
         not impose any affirmative duty on Bank to do any act other than to
         turn over amounts. All Receivables and collections are Collateral and
         if an Event of Default occurs, Bank need not remit collections of
         Collateral and may apply them to the Obligations.

4. REPAYMENT OF OBLIGATIONS.

         4.1. REPAYMENT ON MATURITY. Borrower will repay each Advance on the
         earliest of: (a) payment of the Financed Receivable in respect of which
         the Advance was made, (b) the Financed Receivable becomes an Ineligible
         Receivable, (c) when any Adjustment is made to the Financed Receivable
         (but only to the extent of the Adjustment if the Financed Receivable is
         not otherwise an Ineligible Receivable, or (d) the last day of the
         Facility Period (including any early termination). Each payment will
         also include all accrued Finance Charges on the Advance and all other
         amounts due hereunder.

         4.2. REPAYMENT ON EVENT OF DEFAULT. When there is an Event of Default,
         Borrower will, if Bank demands (or, in an Event of Default under
         Section 9(B), immediately without notice or demand from Bank) repay all
         of the Advances. The demand may, at Bank's option, include the Advance
         for each Financed Receivable then outstanding and all accrued Finance
         Charges, Collateral Handling Fees, attorneys and professional fees,
         court costs and expenses, and any other Obligations.

5. POWER OF ATTORNEY. Borrower irrevocably appoints Bank and its successors and
assigns it attorney-in-fact and authorizes Bank, regardless of whether there has
been an Event of Default, to:

         (A) sell, assign, transfer, pledge, compromise, or discharge all or any
             part of the Financed Receivables:

         (B) demand, collect, sue, and give releases to any Account Debtor for
             monies due and compromise, prosecute, or defend any action, claim,
             case or proceeding about the Financed Receivables, including filing
             a claim or voting a claim in any bankruptcy case in Bank's or
             Borrower's name, as Bank chooses:

         (C) prepare, file and sign Borrower's name on any notice, claim,
             assignment, demand, draft, or notice of or satisfaction of lien or
             mechanics' lien or similar document;

         (D) notify all Account Debtors to pay Bank directly;

         (E) receive, open, and dispose of mail addressed to Borrower;

         (F) endorse Borrower's name on check or other instruments;

         (G) execute on Borrower's behalf any instruments, documents, financing
             statements to perfect Bank's interests in the Financed Receivables
             and Collateral; and

         (H) do all acts and things necessary or expedient in connection with
             the Bank's rights under this Agreement.

6. REPRESENTATIONS, WARRANTIES AND COVENANTS.

    6.1. REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants for
         each Financed Receivable:

                                       5
<PAGE>   6
         (A) Borrower is the owner with legal right to sell, transfer and assign
             it;

         (B) The correct amount is on the Invoice Transmittal and is not
             disputed;

         (C) Payment is not contingent on any obligation or contract and it has
             fulfilled all its obligations as of the Invoice Transmittal date;

         (D) It is based on an actual sale and delivery of goods and/or services
             rendered, is due to Borrower, it is not past due or in default, has
             not been previously sold, assigned, transferred, or pledged and is
             free of any liens, security interests and encumbrances;

         (E) There are no defenses, offsets, counterclaims or agreements for
             which the Account Debtor may claim any deduction or discount;

         (F) Borrower reasonably believes no Account Debtor is insolvent or
             subject to any Insolvency Proceedings;

         (G) Borrower has not filed or had filed against it Insolvency
             Proceedings and does not anticipate any filing;

         (H) Bank has the right to endorse and/or require Borrower to endorse
             all payments received on Financed Receivables and all proceeds of
             Collateral; and

         (I) No representation, warranty or other statement of Borrower in any
             certificate or written statement given to Bank contains any untrue
             statement of a material fact or omits to state a material fact
             necessary to make the statement contained in the certificates or
             statement not misleading.

    6.1.1 ADDITIONAL REPRESENTATIONS AND WARRANTIES. Borrower represents and
         warrants as follows:

         (A) Borrower is duly existing and in good standing in its state of
             formation and qualified and licensed to do business in, and in good
             standing in, any state in which the conduct of its business or its
             ownership of property requires that it be qualified. The execution,
             delivery and performance of this Agreement has been duly
             authorized, and does not conflict with Borrower's organizational
             documents, or constitute an Event of Default under any material
             agreement by which Borrower is bound. Borrower is not in default
             under any agreement to which or by which it is bound.

         (B) Borrower has good title to the Collateral. All inventory is in all
             material respects of good and marketable quality, free from
             material defects.

         (C) Borrower is not an "investment company" or a company "controlled"
             by an "investment company" under the Investment Company Act.
             Borrower is not engaged as one of its important activities in
             extending credit for margin stock (under Regulations G, T and U of
             the Federal Reserve Board of Governors). Borrower has complied with
             the Federal Fair Labor Standards Act. Borrower has not violated any
             laws, ordinances or rules. None of Borrower's properties or assets
             has been used by Borrower, to the best of Borrower's knowledge, by
             previous persons, in disposing, producing, storing, treating, or
             transporting any hazardous substance other than legally. Borrower
             has timely filed all required tax returns and paid, or made
             adequate provision to pay, all taxes. Borrower has obtained all
             consents, approvals and authorizations of, made all declarations or
             filings with, and given all notices to, all government authorities
             that are necessary to continue its business as currently conducted.

    6.2. AFFIRMATIVE COVENANTS. Borrower will do all of the following:

         (A) Maintain its corporate existence and good standing in its
             jurisdictions of incorporation and maintain its qualification in
             each jurisdiction necessary to Borrower's business or operations.

                                       6
<PAGE>   7
         (B) Give Bank at least ten (10) days' prior written notice of changes
             to its name, state of organization, chief executive office or
             location of records.

         (C) Pay all its taxes including gross payroll, withholding and sales
             taxes when due and will deliver satisfactory evidence of payment if
             requested.

         (D) Provide a written report within 10 days, if payment of any Financed
             Receivable does not occur within sixty (60) days of the invoice
             date respecting any Financed Receivable (or as and when otherwise
             directed by the Bank) and include the reasons for the delay.

         (E) Give Bank copies of all Forms 10-K, 10-Q and 8-K (or equivalents)
             within five (5) days of filing with the Securities and Exchange
             Commission, while any Financed Receivable is outstanding.

         (F) Execute any further instruments and take further action as Bank
             requests to perfect or continue Bank's security interest in the
             Collateral or to effect the purposes of this Agreement.

         (G) Provide Bank with a Compliance Certificate no later than five (5)
             days following each quarter end/or as requested by Bank.

         (H) Provide Bank with, as soon as available, but no later than thirty
             (30) days following each Reconciliation Period, a company prepared
             balance sheet and income statement, prepared under GAAP,
             consistently applied, covering Borrower's operations during the
             period together with an aged listing of Receivables and accounts
             payable along with a deferred revenue listing.

         (I) Immediately notify, transfer and deliver to Bank all collections
             Borrower receives for Financed Receivables.

         (J) Direct each Account Debtor to make payments to a Lockbox account
             with Bank or to wire transfer payments to Bank. Without limiting
             the applicability of the foregoing, until the Bank establishes a
             Lockbox account, all collections Borrower receives for all
             Receivables shall be remitted to the Bank at least weekly by Friday
             of each week.

         (K) Borrower will allow Bank to audit Borrower's Collateral, including
             but not limited to Borrower's Accounts, at Borrowers expense, no
             later than ninety (90) days of the execution of this Agreement and
             annually thereafter (provided that Bank may, at its option, conduct
             more frequent audits at any time and from time to time at Bank's
             expense); Provided however, if an Event of Default has occurred,
             Bank may audit Borrower's Collateral at any time and from time to
             time, including but not limited to Borrower's Accounts at Bank's
             sole discretion and without notification and authorization from
             Borrower.

         (L) Demonstrate to the Bank that Borrower has received the proceeds of
             Subordinated Debt or has obtained an equity infusion in an
             aggregate amount of at least $1,000,000.00 subsequent to June 30,
             2000 and before the date of the initial Advance.

         (M) Obtain additional equity infusion or the proceeds of Subordinated
             Debt (exclusive of the $1,000,000.00 described in Section 6.2(L))
             in an aggregate amount of $9,000,000.00 as follows: (i) in an
             aggregate amount of at least $3,000,000.00 on or before October 31,
             2000; and (ii) in an additional aggregate amount of at least
             $6,000,000.00 on or before December 31, 2000.

                                       7
<PAGE>   8
    6.3. NEGATIVE COVENANTS. Borrower will not do any of the following without
         Bank's prior written consent:

         (A) Assign, transfer, sell or grant, or permit any lien or security
             interest in the Collateral.

         (B) Convey, sell, lease, transfer or otherwise dispose of the
             Collateral, except for bona fide sales (upon commercially
             reasonable terms and conditions) of inventory and dispositions or
             trade-ins of obsolete equipment.

         (C) Create, incur, assume, or be liable for any indebtedness, except
             for indebtedness (in an aggregate amount not exceeding $500,000.00)
             fully subordinated to the Obligations and capital lease
             obligations.

         (D) Become an "investment company" or a company controlled by an
             "investment company," under the Investment Company Act of 1940 or
             undertake as one of its important activities extending credit to
             purchase or carry margin stock, or use the proceeds of any Advance
             for that purpose; fail to meet the minimum funding requirements of
             ERISA, permit a Reportable Event or Prohibited Transaction, as
             defined in ERISA, to occur; fail to comply with the Federal Fair
             Labor Standards Act or violate any other law or regulation, or
             permit any of its subsidiaries to do so.

         (E) Without in any way limiting Section 6.3(A) above, pledge, or grant
             a security interest in, any of Borrower's intellectual property.

7. ADJUSTMENTS. If any Account Debtor asserts a discount, allowance, return,
offset, defense, warranty claim, or the like (an "Adjustment") or if Borrower
breaches any of the representations, warranties or covenants set forth in
Section 6., Borrower will promptly advise Bank. Borrower will resell any
rejected, returned, or recovered personal property for Bank, at Borrower's
expense, and pay proceeds to Bank. While Borrower has returned goods that are
Borrower property, Borrower will segregate and mark them "property of Silicon
Valley Bank." Bank owns the Financed Receivables and until receipt of payment,
has the right to take possession of any rejected, returned, or recovered
personal property.

8. SECURITY INTEREST. Borrower grants to Bank a continuing security interest in
all presently and later acquired Collateral. Any security interest will be a
first priority security interest in the Collateral.

9. EVENTS OF DEFAULT. Any one or more of the following is an Event of Default.

         (A) Borrower fails to pay any amount owed to Bank when due;

         (B) Borrower files or has filed against it any Insolvency Proceedings
             or any assignment for the benefit of creditors, or appointment of a
             receiver or custodian for any of its assets;

         (C) Borrower becomes insolvent or is generally not paying its debts as
             they become due or is left with unreasonably small capital;

         (D) Any involuntary lien, garnishment, attachment attaches to the
             Financed Receivables or any Collateral;

         (E) Borrower breaches any covenant, agreement, warranty, or
             representation and does not cure it to Bank's satisfaction within
             10 days; but a breach that cannot be cured it is an immediate Event
             of Default;

         (F) Borrower is in default under any document, instrument or agreement
             evidencing any debt, obligation or liability in favor of Bank its
             affiliates or vendors regardless of whether the debt, obligation or
             liability is direct or indirect, primary or secondary, or fixed or
             contingent;

         (G) An event of default occurs under any Guaranty of the Obligations or
             any material provision of any Guaranty is not valid or enforceable
             or a Guaranty is repudiated or terminated;

                                       8
<PAGE>   9
         (H) A material default or event of default occurs under any agreement
             between Borrower and any creditor of Borrower that signed a
             subordination agreement with Bank;

         (I) Any creditor that has signed a subordination agreement with Bank
             breaches any terms of the subordination agreement; or

         (J) (i) A material impairment in the perfection or priority of the
             Bank's security interest in the Collateral; (ii) a material adverse
             change in the business, operations, or conditions (financial or
             otherwise) of the Borrower occurs; or (iii) a material impairment
             of the prospect of repayment of any portion of the Advances occurs.

10. REMEDIES.

         10.1. REMEDIES UPON DEFAULT. When an Event of Default occurs, (1) Bank
         may stop financing Receivables or extending credit to Borrower; (2) at
         Bank's option and on demand, all or a portion of the Obligations or,
         for an Event of Default described in Section 9(B), automatically and
         without demand, are due and payable in full; (3) Bank may apply to the
         Obligations any (i) balances and deposits of Borrower it holds, or (ii)
         any amount held by Bank owing to or for the credit of the account of
         Borrower; and (4) Bank may exercise all rights and remedies under this
         Agreement and the law, including those of a secured party under the
         Code, power of attorney rights in Section 5 for the Collateral, and the
         right to collect, dispose of, sell, lease, use, and realize upon all
         Financed Receivables and Collateral in any commercial manner. Borrower
         agrees that any notice of sale required to be given to Borrower is
         deemed given if at least five (5) days before the sale may be held.

         10.2. DEMAND WAIVER. Borrower waives demand, notice of default or
         dishonor, notice of payment and nonpayment, notice of any default,
         nonpayment at maturity, release, compromise, settlement, extension, or
         renewal of accounts, documents, instruments, chattel paper, and
         guaranties held by Bank on which Borrower is liable.

         10.3. DEFAULT RATE. As further provided in Section 3.2, while any Event
         of Default exists, all Advances hereunder bears interest at the
         Applicable Rate plus five percent (5%) per annum until the earlier of
         (a) payment of all Obligations in good funds or (b) entry of a final
         judgment when the principal amount of any money judgment will accrue
         interest at the highest rate allowed by law.

11. FEES, COSTS AND EXPENSES. The Borrower will pay on demand all fees, costs
and expenses (including attorneys' and professionals fees with costs and
expenses) that Bank incurs from: (a) preparing, negotiating, administering, and
enforcing this Agreement or any related agreement, including any amendments,
waivers or consents, (b) any litigation or dispute relating to the Financed
Receivables, the Collateral, this Agreement or any other agreement, (c)
enforcing any rights against Borrower or any Guarantor, or any Account Debtor,
(d) protecting or enforcing its interest in the Financed Receivables or other
Collateral, (e) collecting the Financed Receivables and the Obligations, and (f)
any bankruptcy case or insolvency proceeding involving Borrower, any Financed
Receivable, the Collateral, any Account Debtor, or any Guarantor.

12. CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER. This Agreement shall be
construed, governed, and enforced pursuant to the laws of The Commonwealth of
Massachusetts (without regard to conflict of law principals) and shall take
effect as a sealed instrument. Borrower and Bank each submit to the exclusive
jurisdiction of the State and Federal courts in Suffolk County, Massachusetts.

BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE
OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR ANY CONTEMPLATED
TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS
WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT.
EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL.

                                       9
<PAGE>   10
13. NOTICES. Notices or demands by either party about this Agreement must be in
writing and personally delivered or sent by an overnight delivery service, by
certified mail postage prepaid return receipt requested, or by FAX to the
addresses listed at the beginning of this Agreement. A party may change notice
address by written notice to the other party.

14. GENERAL PROVISIONS.

         14.1. SUCCESSORS AND ASSIGNS. This Agreement binds and is for the
         benefit of successors and permitted assigns of each party. Borrower may
         not assign this Agreement or any rights under it without Bank's prior
         written consent which may be granted or withheld in Bank's discretion.
         Bank may, without the consent of or notice to Borrower, sell, transfer,
         or grant participation in any part of Bank's obligations, rights or
         benefits under this Agreement.

         14.2. INDEMNIFICATION. Borrower will indemnify, defend and hold
         harmless Bank and its officers, employees, and agents against: (a)
         obligations, demands, claims, and liabilities asserted by any other
         party in connection with the transactions contemplated by this
         Agreement; and (b) losses or expenses incurred, or paid by Bank from or
         consequential to transactions between Bank and Borrower (including
         reasonable attorneys fees and expenses), except, with respect to each
         of the foregoing, for losses caused by Bank's gross negligence or
         willful misconduct.

         14.3. TIME OF ESSENCE. Time is of the essence for performance of all
         obligations in this Agreement.

         14.4. SEVERABILITY OF PROVISION. Each provision of this Agreement is
         severable from every other provision in determining the enforceability
         of any provision.

         14.5. AMENDMENTS IN WRITING, INTEGRATION. All amendments to this
         Agreement must be in writing. This Agreement is the entire agreement
         about this subject matter and supersedes prior negotiations or
         agreements.

         14.6. COUNTERPARTS. This Agreement may be executed in any number of
         counterparts and by different parties on separate counterparts and when
         executed and delivered are one Agreement.

         14.7. SURVIVAL. All covenants, representations and warranties made in
         this Agreement continue in force while any Financed Receivable amount
         remains outstanding. Borrower's indemnification obligations survive
         until all statutes of limitations for actions that may be brought
         against Bank have run.

         14.8. CONFIDENTIALITY. Bank will use the same degree of care handling
         Borrower's confidential information that it uses for its own
         confidential information, but may disclose information; (i) to its
         subsidiaries or affiliates in connection with their business with
         Borrower, (ii) to prospective transferees or purchasers of any interest
         in the Agreement, (iii) as required by law, regulation, subpoena, or
         other order, (iv) as required in connection with an examination or
         audit and (v) as it considers appropriate exercising the remedies under
         this Agreement. Confidential information does not include information
         that is either: (a) in the public domain or in Bank's possession when
         disclosed, or becomes part of the public domain after disclosure to
         Bank; or (b) disclosed to Bank by a third party, if Bank does not know
         that the third party is prohibited from disclosing the information.

                                       10
<PAGE>   11
         14.9. OTHER AGREEMENTS. This Agreement may not adversely affect Banks
         rights under any other document or agreement. If there is a conflict
         between this Agreement and any agreement between Borrower and Bank,
         Bank may determine in its sole discretion which provision applies.
         Borrower acknowledges that any security agreements, liens and/or
         security interests securing payment of Borrower's Obligations also
         secure Borrower's Obligations under this Agreement and are not
         adversely affected by this Agreement. Additionally, (a) any Collateral
         under other agreements or documents between Borrower and Bank secures
         Borrowers Obligations under this Agreement and (b) a default by
         Borrower under this Agreement is a default under agreements between
         Borrower and Bank.

BORROWER: E-SYNC NETWORKS, INC.

By ______________________________________
Title ___________________________________

BANK: SILICON VALLEY BANK

By ______________________________________
Title ___________________________________

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