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Forbearance Agreement > Re: AMENDED AND RESTATED FORBEARANCE AGREEMENT (the "Forbearance Agreement"), dated as of August 11, 2005, as amended as of August 25, 2005, September 1, 2005, September 8, 2005, September 15, 2005 and September 29, 2005 by and between CAPITAL TEMPFUNDS, a division of CAPITAL FACTORS LLC, ("Capital"), and STRATUS SERVICES GROUP, INC. ("Borrower")
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EXHIBIT
10.48
CAPITAL TEMPFUNDS
a division of CAPITAL FACTORS
LLC,
One Brixam Green, 15800 John J.
Delaney Drive, Suite 300,
Charlotte, North Carolina
28277
October 6,
2005
Stratus
Services Group, Inc.
Manalapan, New
Jersey 07726
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Re:
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AMENDED AND
RESTATED FORBEARANCE AGREEMENT (the “Forbearance
Agreement”), dated as of August 11, 2005, as amended as of
August 25, 2005, September 1, 2005, September 8, 2005, September
15, 2005 and September 29, 2005 by and between CAPITAL TEMPFUNDS, a
division of CAPITAL FACTORS LLC, (“Capital”), and
STRATUS SERVICES GROUP, INC. (“Borrower”)
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Dear Mr.
Maltzman:
It is mutually agreed between the parties hereto
that the Forbearance Agreement be further amended as follows (all
capitalized terms not defined herein shall have the meaning given
such term in the Forbearance Agreement):
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a)
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Clause (a) of
the first sentence Section 3 of the Forbearance Agreement, is
hereby further amended to replace “October 7 2005” with
“October 14, 2005”;
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b)
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In
consideration of the additional forbearance referred to herein,
Borrower hereby authorizes Capital to charge Borrower’s loan
account with an additional Forbearance Fee of $25,000 upon the
execution of this letter agreement;
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In further consideration of the additional
forbearance referred to herein, the parties hereto agree that the
Loan Agreement shall be amended, effective the date hereof, by
amending
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