Obligor #
6566882050 Obligation # 0094064052
PROMISSORY NOTE
MODIFICATION AGREEMENT
THIS
PROMISSORY NOTE MODIFICATION AGREEMENT
(“Modification”) is made and
entered into on
November 28, 2008 but is effective as of November 30, 2008 by and
among
Next,
Inc. (collectively “Borrower”) and
National City Bank, a national banking association
(“Bank”).
WHEREAS, Bank
agreed to lend to Borrower an amount not to exceed the sum of Seven
Million Five Hundred Thousand and 00/100 Dollars ($7,500,000.00)
(“Loan”), which Loan was evidenced by a
certain Replacement Promissory Note (Line of Credit) dated November
21, 2007 in the face amount of Seven Million Five Hundred Thousand
and 00/100 Dollars ($7,500,000.00) (as extended, amended or
otherwise modified to date, the “Note”)
(the said Note and any other instrument or document given in
connection with or to secure the Loan being collectively referred
to as “Loan Documents”).
WHEREAS, the
parties hereto desire to modify the Note as hereinafter
provided.
NOW,
THEREFORE, in consideration of the foregoing promises and the
covenants contained herein, the parties hereto agree as
follows:
1.
Liability of
B
