WAIVER & MODIFICATION NO 2. TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • February 9th, 2017 • Sonic Foundry Inc • Radio & tv broadcasting & communications equipment • Washington
This Waiver and Modification No. 2 to Loan and Security Agreement (this “Modification”) is entered into as of February 8, 2017 (the “Modification Effective Date”), by and between Partners for Growth IV, L.P., a Delaware limited partnership with its principal place of business at 150 Pacific Avenue, San Francisco, California 94111 ("PFG") and Sonic Foundry, Inc., a Maryland corporation with its principal place of business at 222 W. Washington Avenue, Madison, WI 53703 (“Borrower”). This Modification amends that certain Loan and Security Agreement between PFG and Borrowers dated as of May 14, 2015, as amended by that certain Modification No. 1 to Loan and Security Agreement dated September 30, 2015 (the “First Modification” and such Loan and Security Agreement, as amended, the “Loan Agreement”). The Loan Agreement is modified herein for the purposes of adjusting the financial covenants set forth in Section 5 of the Schedule.
