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Exhibit 10.3
September 13, 2001
Sent via Facsimile (805) 884-6311 and U.S. Mail
Mr. Anthony Papa, CEO
Mr. Craig Clark, CFO
Netlojix Communications, Inc.
Netlojix Telecom, Inc.
Remote Lojix/PCSI, Inc.
501 Bath Street
Santa Barbara, California 93101
Dear Messrs, Papa and Clark
Coast Business Credit has approved the following modifications to your Amended and Restated Loan and Security Agreement dated May 30, 2000.
·
waiver of theminimum interest provision based on $1MM in borrowings for the remainder of the contract through 01/31/02 maturity date.
waiver of prepayment penalties.
Please let me know if you have any questions regarding this matter.
Sincerely yours,
/s/ Bill Sorotsky
Bill Sorotsky
Vice President