Document:

Exhibit 10.53

 

Amending Agreement made this 18th day of June,

2002

 

Reference is made to an agreement (the

“Original Contract”) effective as of the 1st day of August, 2000, by

and between thestockpage.com inc., and Electric City Corporation and to an

Amending Agreement made the 12th day of February, 2001 (the

“Amending Agreement”) which amended the Original Contract and to a Second

Amending Agreement made the 29th day of June, 2001 (the “Second

Amending Agreement) which amended the Original Contract and to a third Amending

Agreement made the 3rd day of September, 2001 (the “third Amending

Agreement) which amended the Original Contract.  In this agreement, “we” or “us” or similar terms refers to the

stockpage.com Inc. and “you,” “your” and similar terms mean Electric City

Corporation (current trading symbol “ELC”).

 

You and we hereby agree to further amend the

Original Contract as follows:

 

1.               The Term of the

Original Contract is hereby extended to October 31, 2002.

 

2.               As

consideration of Services from June 1st, 2002 to October 31, 2002

you shall pay to us:

.1             On or before June 1st, 2002 the sum of

$12,000.00

.2             On or before July 1st, 2002 the sum of

$12,000.00

.3             On or before August 1st, 2002 the sum of

$12,000.00

.4             On or before September 1st, 2002 the sum of

$12,000.00

.5             On or before October 1st, 2002 the sum of

$12,000.00

 

3.               Nothing herein

relieves you of your obligation to satisfy any and all of your outstanding

obligations to us pursuant to the Original Contract as amended by the Amending

Agreement and the Second Amending Agreement. 

Electric City reserves the right to cancel this extension agreement at

any time with 10 days written notice. 

The Stockpage will provide services for any month that has previously

been paid for by Electric City.

 

4.               In all other

respects you and we confirm the terms of the Original Contract as amended by

the Amending Agreement and save as further amended herein, which amendments are

hereby incorporated into the Original Contract.         

 

IN

WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement

to be effective as of the day and year first above written.

 

	

  thestockpage.com Inc.

  	

   

  
	

   

  	

   

  	

   

  
	

  Per:

  	

  /s/ Glen Akselrod

  	

   

  
	

   

  	

  Glen Akselrod, President

  	

   

  
	

   

  	

   

  	

   

  
	

  Electric City Corporation

  	

   

  
	

   

  	

   

  	

   

  
	

  Per:

  	

  /s/ John Mitola

  	

   

  
	

   

  	

  John Mitola, CEOEXHIBIT 10.54

 

FOURTH AMENDMENT TO THE

WARRANT TO PURCHASE COMMON STOCK

OF ELECTRIC CITY CORP.

 

 

The undersigned, being the authorized

representatives of Electric City Corp. and The Stockpage (individually, the

“Party” and collectively, the “Parties”), hereby approve the adoption of, and

hereby adopt this 18th day of June, 2002, the following amendment (the

“Amendment”) to that Warrant to Purchase Common Stock between Electric City

Corp. and The Stockpage, dated as of January 15, 1999 (the “Agreement”):

 

WHEREAS, the Parties have previously executed the

“Warrant to Purchase Common Stock (the “Warrant”) dated January 15, 1999; and

 

WHEREAS, the Parties have previously executed the

“First Amendment to the Warrant to Purchase Common Stock of Electric City Corp.”

(the “First Amendment”) dated February 26, 2001; and

 

WHEREAS, the Parties have previously executed the

“Second Amendment to the Warrant to Purchase Common Stock of Electric City

Corp.” (the “Second Amendment”); and

 

WHEREAS, the Parties have previously executed the

“Third Amendment to the Warrant to Purchase Common Stock of Electric City

Corp.” (the “Third Amendment”) dated August 29th, 2001; and

 

WHEREAS, the Parties have mutually agreed to amend

the time of exercise of the Warrant; and

 

WHEREAS, the Parties desire to formally amend the

Warrant to reflect the aforementioned modification;

 

NOW THEREFORE, for good and adequate

consideration, the receipt and sufficiency of which are hereby acknowledged,

the Parties hereby agree as follows

 

1. Incorporation of

Recitals. The Recitals hercto are incorporated herein and are

made a part hereof.

 

2. Amendment to Warrant.

Section  1(a) of the Warrant is

hereby amended to read in its entirety as follows:

 

“1.

Exercise (a) Time of Exercise. This Warrant to Purchase Common Stock

(hereinafter the “Warrant”) may be exercised in whole or in part (but not as to

fractional shares) at the office of the Company, at any time or from time to

time

 

 

until 5:00 p.m. EST, on June

30, 2003, after which time this Warrant shall expire and be null and void if

not exercised (the “Expiration Date”).”

 

3. Reaffirmation. The

Parties hereby ratify and confirm that the Warrant, as amended hereby, remains

in full force and effect.

 

4.

Counterparts. This amendment may be executed in any number of

counterparts, each of which shall be deemed to be an original, and all of

which, when taken together, shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, each of

the undersigned has executed this Amendment as of that day and year first

written above.

 

	

  ELECTRIC CITY CORP.

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ John Mitola

  	

   

  
	

   

  	

   

  	

   

  
	

  Its:

  	

  CEO

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  THE STOCKPAGE

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ Glen Akselrod

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  Its:

  	

  President

  	

   

  

 

2Exhibit 10.1

 

LOAN MODIFICATION AGREEMENT

 

This Loan Modification Agreement is entered

into as of April 19, 2002, by and between Endocardial Solutions, Inc. (the

“Borrower”) and Silicon Valley Bank (“Bank”).

 

1.             DESCRIPTION

OF EXISTING OBLIGATIONS:  Among other

Obligations which may be owing by Borrower to Bank, Borrower is indebted to

Bank pursuant to, among other documents, a Loan and Security Agreement, dated

June 28, 2001, as may be amended from time to time, (the “Loan Agreement”).  The Loan Agreement provides for, among other

things, a Committed Revolving Line in the original principal amount of Two

Million Dollars ($2,000,000) and a Committed Equipment Line in the original

principal amount of One Million Five Hundred Thousand Dollars ($1,500,000).  Defined terms used but not otherwise defined

herein shall have the same meanings as set forth in the Loan Agreement.

 

Hereinafter, all indebtedness owing by

Borrower to Bank shall be referred to as the “Obligations.”

 

2.             DESCRIPTION

OF COLLATERAL.  Repayment of the

Obligations is secured by the Collateral as described in the Loan Agreement.

 

Hereinafter, the above-described security

document and guaranties, together with all other documents securing repayment

of the Obligations shall be referred to as the “Security Documents”.  Hereinafter, the Security Documents,

together with all other documents evidencing or securing the Obligations shall

be referred to as the “Existing Loan Documents”.

 

3.             DESCRIPTION

OF CHANGE IN TERMS.

 

A.            Modification(s) to Loan Agreement.

 

1.                                       Sub-letter (a)

under Section 2.1.1 entitled “Revolving Advances” is hereby amended to read as

follows:

 

(a)           Bank will make Advances not exceeding (i) the lesser of

(A) the Committed Revolving Line or (B) the Borrowing Base, minus (ii) the

amount of all outstanding Letters of Credit (including drawn but unreimbursed

Letters of Credit).  Amounts borrowed

under this Section may be repaid and reborrowed during the term of this

Agreement.

 

2.                                       Section 2.1.3

entitled “Letters of Credit Sublimit” is hereby incorporated to read as

follows:

 

Bank will issue or have

issued Letters of Credit for Borrower’s account not exceeding (i) the lesser of

the Committed Revolving Line or the Borrowing Base minus (ii) the outstanding

principal balance of the Advances; however, the face amount of outstanding

Letters of Credit (including drawn but unreimbursed Letters of Credit) may not

exceed $750,000.  Each Letter of Credit

will have an expiry date of no later than 180 days after the Revolving Maturity

Date, but Borrower’s reimbursement obligation will be secured by cash on terms

acceptable to Bank at any time after the Revolving Maturity Date if the term of

this Agreement is not extended by Bank. 

Borrower agrees to execute any further documentation in connection with

the Letters of Credit as Bank may reasonably request.

 

3.                                       Section 2.2

entitled “Overadvances” is hereby amended to read as follows:

 

If Borrower’s Obligations

under Section 2.1.1 or 2.1.3 exceed the lesser of either (i) the Committed

Revolving Line or (ii) the Borrowing Base, Borrower must immediately pay Bank

the excess.

 

 

 

4.                                       Sub-letter (e)

under Section 6.2 entitled “Financial Statements, Reports, Certificates” is

hereby incorporated to read as follows:

 

(e)           Within 30 days after each meeting held by Borrower’s board

of directors, Borrower will deliver to Bank a report from Borrower’s board of

directors meeting.

 

5.                                       Section 6.6

entitled “Primary Accounts” is hereby amended to read as follows:

 

Borrower will maintain its

primary operating accounts and 80% of its excess cash and investment balances

with Bank.

 

6.                                       Sub-section

(ii) under Section 6.7 entitled “Financial Covenants” is hereby amended to read

as follows:

 

(ii)           Tangible Net Worth. 

A Tangible Net Worth of at least $10,000,000.

 

7.                                       The following

defined terms under Section 13.1 entitled “Definitions” are hereby amended to

read as follows:

 

“Committed Revolving Line”

is an Advance of up to $3,000,000.

 

“Revolving Maturity Date” is

April 19, 2003.

 

4.             CONSISTENT

CHANGES.  The Existing Loan

Documents are hereby amended wherever necessary to reflect the changes

described above.

 

5.             NO

DEFENSES OF BORROWER.  Borrower

agrees that, as of the date hereof, it has no defenses against paying any of

the Obligations.

 

6.             PAYMENT

OF LOAN FEE.  Borrower shall pay

Bank a fee in the amount of Twenty Two Thousand Five Hundred Dollars ($22,500)

(“Loan Fee”) plus all out-of-pocket expenses.

 

7.             CONCERNING

REVISED ARTICLE 9 OF THE UNIFORM COMMERCIAL CODE.  The Borrower affirms and reaffirms that notwithstanding the terms

of the Security Documents to the contrary, (i) that the definition of “Code”,

“UCC” or “Uniform Commercial Code” as set forth in the Security Documents shall

be deemed to mean and refer to “the Uniform Commercial Code as adopted by the

State of California, as may be amended and in effect from time to time and (ii)

the Collateral is all assets of the Borrower. 

In connection therewith, the Collateral shall include, without

limitation, the following categories of assets as defined in the Code:  goods (including inventory, equipment and

any accessions thereto), instruments (including promissory notes), documents,

accounts (including health-care-insurance receivables, and license fees),

chattel paper (whether tangible or electronic), deposit accounts, letter-of-credit

rights (whether or not the letter of credit is evidenced by a writing),

commercial tort claims, securities and all other investment property, general

intangibles (including payment intangibles and software), supporting

obligations and any and all proceeds of any thereof, wherever located, whether

now owned or hereafter acquired.

 

8.             CONTINUING

VALIDITY.  Borrower understands and

agrees that in modifying the existing Indebtedness, Bank is relying upon

Borrower’s representations, warranties, and agreements, as set forth in the

Existing Loan Documents.  Except as

expressly modified pursuant to this Loan Modification Agreement, the terms of

the Existing Loan Documents remain unchanged and in full force and effect.  Bank’s agreement to modifications to the

existing Obligations pursuant to this Loan Modification Agreement in no way

shall obligate Bank to make any future modifications to the Obligations.  Nothing in this Loan Modification Agreement

shall constitute a satisfaction of the Obligations.  It is the intention of Bank and Borrower to retain as liable

parties all makers and endorsers of Existing Loan Documents, unless the party

is expressly released by Bank in writing. 

Unless expressly released herein, no maker, endorser, or guarantor will

be

 

2

 

released by virtue of this Loan Modification

Agreement.  The terms of this paragraph

apply not only to this Loan Modification Agreement, but also to all subsequent

loan modification agreements.

 

9.             CONDITIONS.  The effectiveness of this Loan Modification

Agreement is conditioned upon payment of the Loan Fee.

 

                This

Loan Modification Agreement is executed as of the date first written above.

 

	

  BORROWER:

  	

   

  	

  BANK:

  
	

   

  	

   

  	

   

  
	

  ENDOCARDIAL

  SOLUTIONS, INC.

  	

   

  	

  SILICON

  VALLEY BANK

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

  By:

  	

  /s/ Michael Fredrick

  	

   

  	

  By:

  	

  /s/ Jay McNeil

  
	

  Name:

  	

  Michael Fredrick

  	

   

  	

  Name:

  	

  Jay McNeil

  
	

  Title:

  	

  Controller

  	

   

  	

  Title:

  	

  Vice President

  
									

 

 

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