Exhibit 10.1
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RBC Centura
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MODIFICATION
AGREEMENT
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THIS MODIFICATION AGREEMENT
(“Modification
Agreement”), entered into as of the 19th day of December,
2005, by COMPUTER SOFTWARE INNOVATIONS, INC.
(“Borrower”, whether one or more) with a mailing
address of 1601 East Main Street, Suite A, Easley, S.C. 29642, and
RBC CENTURA BANK (“Bank”), with a mailing address of
531 South Main Street, 2 nd Floor, Greenville, S.C.
29601.
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A.
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Borrower has
made and issued to Bank its Loan Agreement evidencing the loan (the
“Loan”) in the original principal amount and dated as
indicated on Attachment 1 attached hereto.
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B.
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The Loan
Agreement, any promissory notes and any other loan and security
documents that are outstanding with respect to the extension of
credit evidenced by the Loan Agreement, are hereinafter
collectively referred to as the “Contract” and the
Contract is hereby incorporated herein as a part of this
Modification Agreement.
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C.
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Bank and
Borrower mutually desire to modify the provisions of the Contract
in the manner hereinafter set out, it being specifically understood
and agreed that, except as herein modified, the terms and
provisions of the Contract and the individual instruments,
documents and agreements that make up the Contract shall remain
unchanged and the Contract, as herein modified, shall continue in
full force and effect as therein and herein written.
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NOW, THEREFORE, Bank and Borrower, in
consideration of the premises and the sum of One Dollar ($1.00) to
each in hand paid by the other, receipt and sufficiency of which
are hereby acknowledged by each, do hereby agree as
follows:
Section 1. Modification
. The Contract shall be, and the same is, modified in the manner
set forth in Attachment 2 .
Section 2. Effect of Modification .
Nothing contained in this Modification Agreement shall in any way
impair the security now held for the indebtedness evidenced by the
Contract or the lien priority thereof, nor waive, annul, vary or
affect any provision, condition, covenant and agreement contained
in the Contract, nor affect or impair any rights, powers and
remedies under the Contract, except as herein specifically modified
to do any one or more of the foregoing. If any provision in this
Modification Agreement shall be interpreted or applied by a court
or other tribunal with personal and subject matter jurisdiction
over the parties hereto and the Contract, as modified, so as to
impair the security now held for the indebtedness or lien priority
thereof, or do any one or more of any of the foregoing, such
provision shall be ineffective to the extent it causes an
impairment of such security or the lien priority thereof or causes
any of such other consequences, or the application thereof shall be
in a manner and
