EX-1
from SC 13D/A
2 pages
Via Overnight Courier Service and Facsimile Firepond, Inc. Attn: Bill Stelt, CFO 11 Civic Center Plaza, Suite 310 Mankato, Mn 56001 Re: Notice of Default Firepond, Inc. (“Company”) Fp Tech Holdings, LLC (“Noteholder”) Dear Mr. Stelt: This Firm Has Been Retained to Represent Noteholder and Its Interests as They Relate To, Among Other Things, the Following Documents (Collectively Referred to as the “Transaction Documents”): (I) Amendment and Exchange Agreement Dated April 24, 2008 (“Agreement”); (II) Amended and Restated Senior Secured Convertible Note Dated April 24, 2008 (“Note”); and (III) Amended and Restated Collateral Agency and Security Agreement Dated April 24, 2008. Please Be Advised That an “Event of Default,” as Defined in Section 4(a) of the Note, Has Occurred Due To, Among Other Things, the Company’s Admission That It Cannot Meet the Minimum “Consolidated EBITDA” as Set Forth in Section (4)(a)(xi) of the Note. the Aforementioned Default Is Not Intended to Be a Complete List of All Present and/or Possible Events of Default Nor of All Actions That Constitute Breach of the Aforementioned Transaction Documents. Noteholder Reserves the Right to Assert and Act in Reliance Upon, Any and Lindquist & Vennum P.L.L.P. Firepond, Inc. December 15, 2008 Page 2
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