EXHIBIT 10.60
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SECOND AMENDMENT
TO
FINANCING AGREEMENT
This Second Amendment to Financing Agreement is entered into as of April
26, 2007 (the "Amendment"), by and between SAND HILL FINANCE, LLC ("SHF") and
BRIDGELINE SOFTWARE, INC. ("Client").
RECITALS
Client and SHF are parties to that certain Financing Agreement dated as of
March 29, 2004, the First Amendment entered into as of September 12, 2005 as
amended (the "Agreement"). The parties desire to amend the Agreement in
accordance with the terms of this Amendment.
NOW, THEREFORE, the parties agree as follows:
1. The reference to "SEVEN HUNDRED AND FIFTY THOUSAND DOLLARS ($750,000
(the `CREDIT LIMIT')" in Section 1.2 of the Agreement is hereby amended to read
"THREE HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($375,000) (the `Credit Limit')".
2. Client shall pay to SHF a commitment fee equal to $1,875, which fee
shall be fully earned and nonrefundable as of the date hereof. Client authorizes
SHF to deduct such fee from the proceeds of such Advance.
3. Unless otherwise defined, all initially capitalized terms in this
Amendment shall be as defined in the Agreement. The Agreement, as amended
hereby, shall be and remain in full force and effect in accordance with its
respective terms and hereby is ratified and confirmed in all respects. Except as
expressly set forth herein, the execution, delivery, and performance of this
Amendment shall not operate as a waiver of, or as an amendment of, any right,
power, or remedy of SHF under the Agreement, as in effect prior to the date
hereof. Client ratifies and reaffirms the continuing effectiveness of all
guaranties, security agreements, mortgages, deeds of trust, environmental
agreements, and all other instruments, documents and agreements entered into in
connection with the Agreement.
4. Client represents and warrants that the representations and warranties
contained in the Agreement are true and correct as of the date of this
Amendment, and that no Event of Default has occurred and is continuing.
5. This Amendment may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one instrument.
6. As a condition to the effectiveness of this Amendment, SHF shall have
received, in form and substance satisfactory to SHF, the following:
(a) this Amendment, duly executed by Client;
(b) such other documents, and completion of such other matters, as SHF
may reasonably deem necessary or appropriate.
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IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
first date above written.
BRIDGELINE SOFTWARE, INC.
By: /S/XXXX XXXXXX
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Title: CHIEF FINANCIAL OFFICER
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SAND HILL FINANCE, LLC
By: /S/XXXX XXXXXXX
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Title: PRESIDENT
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