EXHIBIT 10.3
[LETTERHEAD OF CITY NATIONAL BANK]
September 5, 2000
Xxxxx XxXxxxxxx
Senior Vice President & Chief Financial
Officer
Digital Insight
00000 Xxxxxx Xxxx
Xxxxxxxxx, XX 00000
Re: Security Agreement dated August 18, 2000 for $10,000,000 Equipment Term
Facility
Dear Xxxxx:
This is in reference to the Certificate of Deposit Number 240-005484.
This will confirm that, on and after September 1, 2001, and provided no Event of
Default exists under the Multiple Disbursement Note date as of August 18, 2000,
CNB, upon request of Debtor, made in writing and no more than once in any
calendar month, CNB shall release to Debtor an amount such that the remaining
amount is equal to the then principal balance under the Note. Unless the
withdrawal occurs at the maturity of the Certificate of Deposit held pursuant to
the above shown Security Agreement, and any renewals of extensions thereof,
early withdrawal fees and penalties as set forth in the Certificate of Deposit
shall apply.
Sincerely,
/s/ Xxx Xxxx
Xxx Xxxx
