50 of the Top 250 law firms use our Products every day
Exhibit
10.79
Wells Fargo Bank Business
Credit
Infotech USA.
Inc. a New Jersey corporation
Infotech USA.
Inc. a Delaware corporation
Information
Technology Services, Inc.
Fairfield, New
Jersey 07004
Attn: Mr. J. Robert
Patterson
RE: Third
Amendment and Waiver
Reference is made to the Credit and Security
Agreement, dated as of June 29, 2004 (as amended from time to time,
the “Credit Agreement”), among Infotech USA, Inc., a
New Jersey corporation, as borrower (the “Borrower”),
Infotech USA, Inc., a Delaware corporation, and Information
Technology Services, Inc., a New York corporation, as guarantors
(together with the Borrower, the “Obligors”) and Wells
Fargo Bank, National Association, as successor by merger to Wells
Fargo Business Credit, Inc., acting through its Wells Fargo
Business Credit operating division, as lender (the
“Lender”). Terms which are capitalized and not
otherwise defined herein shall have the meanings ascribed to them
in the Credit Agreement.
The Obligors have informed the Lender that
Sebastian Perez has ceased to actively manage each Obligor's
day-to-day business activities in his capacity as president of each
of the Obligors, which constitutes an Event of Default under
Section 7.1(c) of the Credit Agreement (the “Designated Event
of Default”). The obligors have requested that the Lender
consent to Jonathan McKeage’
|
