TERMINATION
AGREEMENT
This
TERMINATION AGREEMENT (this “ Termination
Agreement ”) is effective as of the 4th day of December,
2008, by and between CS Financing Corporation, a Delaware
corporation (“ CSF ”) and Hennessey Financial,
LLC, a Minnesota limited liability company (“
Hennessey ”).
WHEREAS , CSF and Hennessey have entered into that
certain Loan and Security Agreement, dated as of October 5, 2005,
as amended by that certain First Amendment to Loan and Security
Agreement, dated August 22, 2006, as further amended by that
certain Second Amendment to Loan and Security Agreement, dated
September 21, 2006, as further amended by that certain Third
Amendment to Loan and Security Agreement, dated March 5, 2007, and
as further amended by that certain Fourth Amendment to Loan and
Security Agreement, dated May 7, 2007 (collectively, the “
Loan and Security Agreement ”).
WHEREAS , CSF and Hennessey desire to terminate the Loan
and Security Agreement and release each other from all obligations,
rights, responsibilities, and duties thereunder.
NOW,
THEREFORE , in
consideration of the mutual covenants and promises contained herein
and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties,
intending to be legally bound, hereby agree as follows:
1.
Termination . Each of CSF and Hennessey hereby
terminates the Loan and Security Agreement, effective a
|
