50 of the Top 250 law firms use our Products every day
Exhibit 10.64
November 19, 2003
David E. Pertl, Senior Vice
President & Chief Financial Officer
Fresh Choice, Inc.
485 Cochrane Circle
Morgan Hill, Ca 95037
Dear David,
In response to your recent
request, Mid-Peninsula Bank, subject to your acceptance and
acknowledgement, hereby agrees to amend our Revolving Loan
Agreement with Fresh Choice, Inc. dated October 5, 2001 (as amended
June 3, 2002 and subsequently amended as of December 10, 2002,
April 7, 2003, and August 13, 2003) as follows:
|
•
|
Section 4.7
|
Net Worth
Ratio.
|
|
|
At all times, maintain a ratio of
Debt to Tangible Net Worth of not greater than 1.00 to
1.00.
|
|
|
|
|
•
|
Section 4.8
|
Other Ratio.
|
|
|
Maintain a ratio, as of the end
of each fiscal quarter of Borrower, as measured on a rolling four
fiscal quarter basis, of (x) the amount of Borrower’s annual
Net Income adjusted to exclude any non-cash income and to exclude
expenses for interest, taxes, depreciation, amortization, asset
impairment, and restaurant opening costs; less the amount of
dividends and distributions paid to shareholders of Borrower, to
(y) the amount of the current portion of long-term obligations as
reflected on
|
|
