ESNI Announces Withdrawal of Notice of Default and Demand for Payment by CRC.Business Editors TRUMBULL, Conn.--(BUSINESS WIRE)--April 18, 2002 ESNI, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ESNI) announced the receipt of a letter dated April 17, 2002 from its joint venture partner CRC (Cyclical Redundancy Checking) An error checking technique used to ensure the accuracy of transmitting digital data. The transmitted messages are divided into predetermined lengths which, used as dividends, are divided by a fixed divisor. , the complete text of which is as follows: "Reference is made to that certain letter dated April 15, 2002 (the `Notice of Default') from CRC, Inc. (`CRC') to E-Sync Networks, Inc. (currently known as ESNI, Inc., the `Company'). Please be advised that we hereby withdraw the Notice of Default. "Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Amended and Restated Security Agreement, dated as of August 6, 2001, between the Company and CRC (the 'Security Agreement'). "Please be advised also that our withdrawing of the Notice of Default is without prejudice Without any loss or waiver of rights or privileges. When a lawsuit is dismissed, the court may enter a judgment against the plaintiff with or without prejudice. When a lawsuit is dismissed without prejudice , and we hereby reserve all rights and remedies provided under the Notes, the Security Agreement, and other Transaction Documents and/or applicable law with respect to any defaults or Events of Defaults which may at any time exist, including, without limitation, those referenced in the Notice of Default. CRC's failure at this time to exercise any such rights or remedies (a) is without prejudice to the exercise of any such rights or remedies in the future and (b) is not, and shall not be deemed to be, a waiver The voluntary surrender of a known right; conduct supporting an inference that a particular right has been relinquished. The term waiver is used in many legal contexts. of any defaults or Events of Default including, without limitation, those referenced in the Notice of Default, or any of such rights and remedies." About ESNI, Inc. Headquartered in Trumbull, CT, ESNI, Inc. (OTC BB: ESNI) is a holding company that owns a majority share in E-Sync Networks, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . E-Sync Networks, LLC is a joint venture between ESNI and Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Consultants, Inc., providing an array of enterprise messaging and network solutions, including: IT infrastructure and network design and implementation; reliable, high-quality messaging; secure, high-performance hosting; system management and integration services, technical help desk and application development. ESNI's largest stockholders are New York-based venture fund Commercial Electronics Capital Partnership, LP and Viventures, the venture capital arm of Vivendi (NYSE NYSE See: New York Stock Exchange : V). More information can be found on the Internet at www.esyncnetworks.com. Certain of the above statements contained in this press release contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Actual results, events, and circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or (including future performance, results, and trends) could differ materially from those set forth in such statements due to various factors, risks, and uncertainties, including, but not limited to, risks associated with the Company's future growth and operating results, the uncertainty of market acceptance of the Company's products, technological change, competitive factors, and general economic conditions. Except as otherwise required to be disclosed in periodic reports required to be filed by companies registered under the Exchange Act by rules of the Securities and Exchange Commission, the Company has no duty and undertakes no obligation to update such statements. |
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