SECOND MODIFICATIONTOPROMISSORYNOTE
THISSECONDMODIFICATIONTOPROMISSORYNOTE(this"Modification")is entered intoasofNovember3,2014,byandbetweenZAGGINC,aNevadacorporation("Borrower"),andWELLSFARGOBANK,NATIONAL ASSOCIATION ("Bank").
RECITALS
WHEREAS, BorroweriscurrentlyindebtedtoBankpursuanttothetermsandconditions ofthatcertainRevolvingLineofCredit Notein themaximumprincipalamountof$60,000,000, executed by Borrower and payable to the orderofBank, datedas ofDecember7,2012and as amended fromtime to time(the"Note"),whichNoteissubjectto thetermsandconditions ofa credit agreement betweenBorrowerand Bank dated as of December 7, 2012, as amended from timeto time(the"CreditAgreement"), andwhich Noteincorporatesthe termsof an Addendum to Promissory Note dated as of the same date, as amended from time to time (the"Addendum").
WHEREAS,Bank andBorrowerhaveagreedtocertainchangesintheterms and conditionssetforthintheNote,and haveagreed to modify theNote to reflect saidchanges.
NOW,THEREFORE,forvaluableconsideration,thereceiptandsufficiencyofwhichare herebyacknowledged,theparties heretoagree that the Note shall be modified as follows:
1. ThemaximumprincipalamountavailableundertheNoteisherebymodified tobe Twenty-FiveMillionDollars($25,000,000).
2. | Theeffective dateofthechangessetforthhereinshallbeNovember3,2014. |
3. Exceptas expresslysetforthherein,allterms andconditionsoftheNoteremainin fullforceandeffect,withoutwaiverormodification.All terms definedinthe Noteshallhave the same meaningwhenused inthis Modification. This Modification andthe Note shall be read together, as one document.
4. BorrowercertifiesthatasofthedateofthisModificationthereexistsnoEventof DefaultundertheNote, noranycondition, actor eventwhich withthe givingof notice orthe passage of time or both would constitute any suchEventof Default.
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IN WITNESS WHEREOF, the parties hereto have caused this Modification to be executed as of the day and year first written above.
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