Smart Online Inc. Durham, NC 27703 Re: Letter Agreement for $6,500,000.00 Term Facility Gentlemen:Smart Online Inc • December 6th, 2010 • Services-prepackaged software
Israel Discount Bank of New York ("IDB") is pleased to advise you that it holds available for the benefit of Smart Online Inc. (the "Borrower"), a corporation organized and in good standing under the laws of the State of Delaware, a multi-draw term loan facility ("Credit Facility") in the maximum principal amount of $6,500,000.00, subject to the following terms and conditions of this letter agreement ("Letter Agreement") as set forth below:
