September 21, 1998
JACO ELECTRONICS, INC.
000 Xxxx Xxxxxx
Xxxxxxxxx, XX 00000
NEXUS CUSTOM ELECTRONICS, INC.
Xxxxxxxx Xxxxxx
Xxxxxxx, XX 00000
Gentleman:
Reference is made to (a) the Second Restated and Amended Loan and
Security Agreement between Jaco Electronics, Inc. and Nexus Custom Electronics,
Inc. as Debtor, and our predecessor-in-interest, The Bank of New York Commercial
Corporation, as Lender, and each other Lender a party thereto, dated September
13, 1995, as amended and supplemented (the "Loan Agreement") and (b) the letter
agreement and amendment dated as of April 10, 1996 among the parties to the Loan
Agreement (the "Letter Agreement").
It is hereby agreed that, effective as of September 21, 1998, clause (b)(ii) of
the Letter Agreement shall be amended to read in its entirety a follows:
"(ii)any such repurchase occurs before September 14, 2000 at the very
latest; and "
Except as hereinabove specifically set forth, the Loan Agreement and Letter
Agreement shall remain unmodified and in full force and effect in accordance
with their terms.
If you are in agreement with the foregoing, please so indicate by
signing and returning to us the enclosed copy of this letter.
Very truly yours,
BNY FINANCIAL CORPORATION f/k/a THE
BANK OF NEW YORK COMMERCIAL CORPORATION,
as Agent and Lender
By: Xxxxx Xxxxxxxx
Title: Vice President
FLEET BANK, N.A.,
NATWEST BANK N.A., as Lender
By: Xxxxx Xxxxxxxx
Title: Vice President
AGREED:
JACO ELECTRONICS, INC.
By: Xxxxxxx X. Xxxx
Title: Vice President/Finance
NEXUS CUSTOM ELECTRONICS, INC.
By: Xxxxxxx X. Xxxx
Title: Vice President/Finance
