FIRSTWAVE TECHNOLOGIES INC
EXHIBIT 10.34
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<TYPE>EX-10
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<FILENAME>ex10_34.htm
<DESCRIPTION>EXHIBIT 10.34
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<P align="right">
<U><FONT face="serif">Exhibit 10.34</FONT></U><FONT face="serif"> </FONT></P>
<P align="center">
<FONT face="serif"> SECOND AMENDMENT TO LOAN AGREEMENT <br>
AND REVOLVING LINE OF CREDIT NOTE </FONT></P>
<P align="left" style="text-indent: 50">
<FONT face="serif"> 	THIS SECOND AMENDMENT TO LOAN AGREEMENT AND REVOLVING LINE OF CREDIT NOTE (&#147;Second Amendment&#148;), is entered into effective as of July 29, 2004, by and between FIRSTWAVE TECHNOLOGIES, INC. (the &#147;Borrower&#148;), and
RBC CENTURA BANK (&#147;Bank&#148;).</FONT></P>
<P style="text-indent: 50">
<FONT face="serif">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank has extended certain financial accommodations to Borrower pursuant to that certain Loan Agreement (as amended, the &#147;Loan Agreement&#148;), dated as of July 29, 2003, including, without
limitation, a revolving credit loan in the original principal amount of $1,000,000 pursuant to a Commercial Promissory Note, dated as of even date with the Loan Agreement (the &#147;Revolving Line of Credit Note&#148;). </FONT></P>
<P style="text-indent: 50">
<FONT face="serif">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrower has requested that Bank extend the Maturity Date of the Revolving Line of Credit Note, as those terms are defined in the Loan Agreement, in exchange for reducing the original principal
amount of the Revolving Line of Credit to the amount currently advanced to Borrower thereunder, and making certain other amendments to the Loan Agreement. </FONT></P>
<P style="text-indent: 50">
<FONT face="serif">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank is willing to extend the Maturity Date of the Revolving Line of Credit Note, reduce the principal amount thereof, and to amend the terms of the Loan Agreement upon the terms and conditions
set forth herein.</FONT></P>
<P style="text-indent: 50">
<FONT face="serif">NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower and Bank hereby agree as follows: </FONT></P>
<P align="left" style="text-indent: 90">
<FONT face="serif">1.&nbsp;&nbsp; </FONT><U><FONT face="serif">Definitions</FONT></U><FONT face="serif">.  Capitalized terms used in this Second Amendment and not otherwise defined herein shall have the meanings ascribed to those
terms in the Loan Agreement.</FONT></P>
<P align="left" style="text-indent: 90">
<FONT face="serif">2.&nbsp;&nbsp; </FONT><U><FONT face="serif">Loan Amount</FONT></U><FONT face="serif">. The Information Schedule to the Loan Agreement is hereby amended to provide that the &#147;Loan Amount&#148; of the Revolving
Line of Credit is $500,000. </FONT></P>
<P align="left" style="text-indent: 90">
3.&nbsp; &nbsp;
<U><FONT face="serif">Amendments to Revolving Line of Credit Note</FONT></U><FONT face="serif">.</FONT> </P>
<ol type="a">
  <li>
  <p style="margin-left: 100; margin-top: 10">
<FONT face="serif">The Revolving Line of Credit Note is hereby amended by deleting the principal amount of &#147;$1,000,000&#148; wherever it appears and substituting therefor in all such places the new principal amount of
&#147;$500,000.&#148;</FONT> 	</li>
  <li>
  <p style="margin-left: 100; margin-top: 10">
<FONT face="serif">The Revolving Line of Credit Note is hereby further amended by deleting Section 2.2 thereof in its entirety and substituting therefor a new Section 2.2 to read as follows: &#147;</FONT><U><FONT face="serif">Principal Payment
Terms; Maturity Date. </FONT></U><FONT face="serif">All principal and accrued interest shall be payable in one single payment on July 27, 2005 (herein referred to as the &#147;Maturity Date&#148;).&#148;</FONT>
  </li>
</ol>
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<p style="margin-left: 90; margin-top: 10">&nbsp;</p>


<p align="left" style="text-indent: 90"><FONT face="serif">4.</FONT>&nbsp;
<U><FONT face="serif">&nbsp;Amendments to Loan Agreement</FONT></U> </p>
<ol type="a">
  <li>
  <p style="margin-left: 100; margin-top: 10">
<FONT face="serif">The Loan Agreement is hereby amended by deleting </FONT><U><FONT face="serif">Attachment 2A </FONT></U><FONT face="serif">in its entirety and substituting therefor a replacement </FONT><U><FONT face="serif">Attachment 2A
</FONT></U><FONT face="serif">in the form attached hereto.</FONT> 	</li>
</ol>
<p align="left" style="text-indent: 90">&nbsp;<FONT face="serif">5.</FONT>&nbsp;
<U><FONT face="serif">&nbsp;Fees and Expenses of Bank</FONT></U><FONT face="serif">. Borrower acknowledges and agrees that the</FONT>
<FONT face="serif">effectiveness of the amendments to the Loan Agreement to be made hereby are expressly conditioned upon: (i) Borrower&#146;s reimbursing Bank for all costs and expenses Bank has incurred in connection with such amendments,
including Bank&#146;s reasonable attorney&#146;s fees and (ii) Borrower&#146;s payment of $1,000 as a loan renewal fee, and that the additional covenants set forth herein are in consideration of such amendments. </FONT>
</p>
<P align="left" style="text-indent: 90">
<FONT face="serif">6.&nbsp;&nbsp; </FONT><U><FONT face="serif">Reaffirmation</FONT></U><FONT face="serif">.  Except as otherwise provided herein, the terms of the Loan Agreement and the other Loan Documents remain in full force and
effect. After giving effect to this Second Amendment (and any other waivers and amendments made prior hereto, if any) Borrower hereby (a) renews and reaffirms all representations and warranties set forth in the Loan Agreement and the other Loan
Documents (subject to any changes therein expressly permitted by the Loan Agreement and other Loan Documents), and certifies that all such representations and warranties are true and correct in all material respects as of the date hereof, and (b)
certifies that no Default Condition or Event of Default exists and is continuing under the Loan Agreement, and that Borrower is in compliance in all material respects with all of its obligations under the Loan Agreement and the other Loan
Documents.</FONT></P>
<P align="left" style="text-indent: 90">
<FONT face="serif">7.&nbsp;&nbsp; </FONT><U><FONT face="serif">References</FONT></U><FONT face="serif">. All references to the &#147;Loan Agreement,&#148; contained in the Loan Agreement itself or in any of the other Loan
Documents, shall refer to the Loan Agreement as amended hereby. </FONT></P>
<P align="left" style="text-indent: 90">
<FONT face="serif">8.&nbsp;&nbsp; </FONT><U><FONT face="serif">Counterparts</FONT></U><FONT face="serif">.  This Second Amendment may be executed in two or more counterparts, as contemplated by Section 11.18 of the Loan Agreement.
</FONT></P>
<P align="left" style="text-indent: 90">
<FONT face="serif">9.&nbsp;&nbsp; </FONT><U><FONT face="serif">Governing Law</FONT></U><FONT face="serif">. This Second Amendment shall be governed by Georgia law, as provided in Section 11.12 of the Loan Agreement.</FONT></P>
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<P style="text-indent: 50">
<FONT face="serif">IN WITNESS WHEREOF, the undersigned have executed this Second Amendment as of the date first above written.</FONT></P>
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<FONT face="serif">BANK:</FONT>&nbsp;
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&nbsp;
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<FONT face="serif">RBC CENTURA BANK</FONT>&nbsp;
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&nbsp;	</TD>
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&nbsp;
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<FONT face="serif">By: <u>/s/ Joseph B.Singer</u></FONT><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>
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 &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Joseph B. Singer</FONT>&nbsp;
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&nbsp;
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 &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="serif">Vice President - Georgia Markets</FONT>&nbsp;
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&nbsp;
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 &nbsp;</TD>
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<FONT face="serif">BORROWER:</FONT>&nbsp;
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&nbsp;
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<FONT face="serif">FIRSTWAVE TECHNOLOGIES, INC.</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
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 <p align="center">&nbsp;<FONT face="serif">Witness:</FONT>&nbsp;
	</TD>
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	<TD nowrap colspan=1 width="365">
&nbsp;</TD>
	<TD width="12">
&nbsp;</TD>
	<TD nowrap colspan=1 width="225">
 &nbsp;</TD>
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	<TD nowrap colspan=1 width="365">
<FONT face="serif">By: <u>/s/Richard T. Brock</u></FONT><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>
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&nbsp;	</TD>
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 &nbsp;<U><FONT face="serif">/s/ Judith A. Vitale&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U>&nbsp;
	</TD>
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<FONT face="serif">Name: Richard T. Brock</FONT>&nbsp;
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&nbsp;	</TD>
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 &nbsp;<FONT face="serif">Print Name: Judith A.Vitale</FONT>&nbsp;
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	<TD nowrap colspan=1 width="365">
<FONT face="serif">Title: CEO</FONT>&nbsp;
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&nbsp;
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<FONT face="serif">GUARANTOR:</FONT>&nbsp;
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&nbsp;
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	<TD nowrap colspan=1 width="365">
&nbsp;</TD>
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<FONT face="serif">CONNECT- CARE, INC.</FONT>&nbsp;
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 <p align="center">&nbsp;<FONT face="serif">Witness:</FONT>&nbsp;
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	<TD nowrap colspan=1 width="365">
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&nbsp;</TD>
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 &nbsp;</TD>
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<FONT face="serif">By:<u> /s/Richard T. Brock</u></FONT><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>
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&nbsp;	</TD>
	<TD nowrap colspan=1 width="225">
 <U><FONT face="serif">/s/ Judith A. Vitale&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U>&nbsp;
	</TD>
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	<TD nowrap colspan=1 width="365">
<FONT face="serif">Name: Richard T. Brock</FONT>&nbsp;
	</TD>
	<TD width="12">
&nbsp;	</TD>
	<TD nowrap colspan=1 width="225">
 &nbsp;<FONT face="serif">Print Name: Judith A. Vitale</FONT>&nbsp;
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	<TD nowrap colspan=1 width="365">
<FONT size=2 face="serif">Title: Director</FONT>&nbsp;
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&nbsp;
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&nbsp;</TD>
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	</TD>
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<FONT face="serif">GUARANTOR:</FONT>&nbsp;
	</TD>
	<TD width="12">
&nbsp;	</TD>
	<TD nowrap colspan=1 width="225">
&nbsp;
	</TD>
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	<TD nowrap colspan=1 width="365">
&nbsp;</TD>
	<TD width="12">
&nbsp;</TD>
	<TD nowrap colspan=1 width="225">
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<FONT face="serif">FIRSTWAVE TECHNOLOGIES UK, LIMITED</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD nowrap colspan=1 width="225">
 <p align="center">&nbsp;<FONT face="serif">Witness:</FONT></TD>
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	<TD nowrap colspan=1 width="365">
&nbsp;</TD>
	<TD width="12">
&nbsp;</TD>
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 &nbsp;</TD>
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<FONT face="serif">By: <u>/s/ Richard T. Brock</u></FONT><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>
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&nbsp;	</TD>
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 &nbsp;<U><FONT face="serif">/s/ Judith A. Vitale&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U>&nbsp;
	</TD>
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	<TD nowrap colspan=1 width="365">
<FONT face="serif">Name: Richard T. Brock</FONT>&nbsp;
	</TD>
	<TD width="12">
&nbsp;	</TD>
	<TD nowrap colspan=1 width="225">
 &nbsp;<FONT face="serif">Print Name: Judith A. Vitale</FONT>&nbsp;
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	<TD nowrap colspan=1 width="365">
<FONT face="serif">Title: Director</FONT>&nbsp;
	</TD>
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&nbsp;	</TD>
	<TD nowrap colspan=1 width="225">
&nbsp;
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<FONT size=2 face="serif">Attachment 2A</FONT>
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<FONT size=2 face="serif">to</FONT>
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<FONT size=2 face="serif">Loan Agreement</FONT>
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<FONT size=2 face="serif">(Additional Terms and Conditions)</FONT>
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<B><FONT size=2 face="serif">A.</FONT></B>&nbsp;
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 &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="serif">Additional Conditions. The following additional conditions must be satisfied before Bank is</FONT></B>&nbsp;
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 &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="serif">obligated to make any disbursements and each of the conditions must be and remain satisfied at the</FONT></B>&nbsp;
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 &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="serif">time of each disbursement subsequent to the first disbursement:</FONT></B>&nbsp;
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 &nbsp; &nbsp; &nbsp;<FONT size=2 face="serif">None.</FONT>&nbsp;
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<B><FONT size=2 face="serif">B.</FONT></B>&nbsp;
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 &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="serif">Terms and Provisions Regarding Disbursements. Bank&#146;s obligation to make disbursements and</FONT></B>&nbsp;
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&nbsp;
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 &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="serif">Borrower&#146;s right to receive disbursements shall be subject to the following terms and provisions:</FONT></B>&nbsp;
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&nbsp;</TD>
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<FONT size=2 face="serif">Revolving Line of Credit</FONT></TD>
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&nbsp;</TD>
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 &nbsp;</TD>
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<p align="right"><FONT size=2 face="serif">1.</FONT></TD>
	<TD>
&nbsp;</TD>
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<FONT size=2 face="serif">Disbursements may be requested by Borrower up to five (5) days before the maturity date of the Note<br>
 evidencing the Revolving Line of Credit.</FONT>
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&nbsp;</TD>
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 &nbsp;</TD>
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<p align="right"><font size="2">2.</font></TD>
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<FONT size=2 face="serif">Borrower may request no more than three disbursements in a calendar month, each in the minimum<br>
 amount of $50,000, and the aggregate amount of outstanding disbursements shall not exceed at any<br>
 time the Loan Amount for the
Revolving Line of Credit.</FONT>
	</TD>
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	<TD nowrap valign="top">
&nbsp;</TD>
	<TD>
&nbsp;</TD>
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 &nbsp;</TD>
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<p align="right"><font size="2">3.</font></TD>
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&nbsp;</TD>
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<FONT size=2 face="serif">Whenever Borrower desires an advance under the Revolving Line of Credit, Borrower shall submit<br>
 a Draw Request by facsimile transmission or telephone no later than 10:00 a.m. eastern time, on the<br>
 business day on which
Borrower desires the advance to be made. Each Draw Request shall be signe<br>
&nbsp;by an authorized officer of Borrower, or a designee thereof. Each notification by telephone must be<br>
 followed within one business day by a facsimile transmission which meets
the criteria regarding a<br>
 facsimile transmission. Bank shall be entitled to rely on any telephonic notice given by a person which<br>
 Bank reasonably believes to be an authorized officer of Borrower, or a designee thereof. Bank shall<br>
 not have any liability
to Borrower or any other person for its failure to make a disbursement on the<br>
 date requested by Borrower, unless such failure is the result of willful misconduct or gross negligence<br>
 of Bank; and if Bank&#146;s failure is a result of willful
misconduct or gross negligence, its liability shall be <br>
 limited to actual damages only &#150; Bank shall not be liable for indirect, speculative, consequential or<br>
 punitive damages or losses. If Borrower maintains its operating deposit account with
Bank, Bank will<br>
 credit the amount of the disbusement to such account. If Borrower does not maintain its operating<br>
 deposit account with Bank, Bank will issue to Borrower for deposit in its operating deposit account a<br>
 Bank check or other negotiable
instrument drawn on Bank in the amount of the advance.</FONT>
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 &nbsp;</TD>
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<p align="right"><font size="2">4.</font></TD>
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&nbsp;</TD>
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<FONT size=2 face="serif">If, at any time, the aggregate amount of the outstanding principal under the Revolving Line of Credit<br>
 exceeds the Loan Amount for the Revolving Line of Credit, the Borrower shall immediately pay to Bank,<br>
 in cash, the amount
of such excess.</FONT>
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