As of December 31, 1996
Xxxxxxx X. Xxxxxxx
Xxxxxxxxx Sign Company
0000 Xxxxxxx 00 Xxxx
Xxxxx, Xxxxx 00000
RE: First Amended and Restated Revolving Credit and Term Loan Agreement (as
amended from time to time, the "LOAN AGREEMENT") between Comerica
Bank-Texas ("LENDER") and Xxxxxxxxx Sign Company. ("BORROWER") dated
October 31, 1996
Dear Xx. Xxxxxxx:
Unless otherwise defined herein, capitalized terms used herein shall have
the meanings given such terms in the Loan Agreement. Effective as of the date
of this letter, Xxxxxx and Xxxxxxxx agree as follows:
1. Subparagraph "(a)" of Section 9.5 of the Agreement is amended and
restated in its entirety as follows (with all other subparagraphs
remaining as originally written):
"(a) From the date of this Agreement $1,000,000
through December 31, 1996
From January 1, 1997 through March 31, 1997 $1,000,000
From April 1, 1997 through June 30, 1997 $1,250,000
From July 1, 1997 through September 30, 1997 $1,750,000"
2. Subparagraphs "(a)" and "(b)" of Section 9.6 of the Agreement are
amended and restated in their entirety as follows (with all other
subparagraphs remaining as originally written):
"(a) From the date of this Agreement 4.5:1.0
through December 31, 1996
From January 1, 1997 through March 31, 1997 4.5:1.0
From April 1, 1997 through June 30, 1997 3.75:1.0
From July 1, 1997 through September 30, 1997 3.75:1.0"
The preceding modification is for the limited time and purpose herein
expressed. Such modification shall not adversely affect or impair any rights
or remedies available to Lender under the Loan Agreement, or otherwise, and
shall not constitute a waiver of any Defaults, Events of Default or other
violations of the provisions of the Agreement relating to events or time
periods not covered by this modification, and shall not imply that the Lender
will in the future grant any other waivers or modifications.
The preceding modification shall not be effective until Lender shall have
received a copy of this letter bearing the original signatures of Borrower.
This letter may be executed in one or more counterparts, which together shall
constitute one document.
Sincerely,
/s/ XXXXX XXXXX
-----------------------------
Xxxxx Xxxxx
Assistant Vice President
ACKNOWLEDGED, ACCEPTED AND AGREED TO
AS OF THE DATE OF THE ABOVE LETTER:
BORROWER:
XXXXXXXXX SIGN COMPANY
By: /s/ XXXXXXX X. XXXXXXX
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Its: VP, CFO
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