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Exhibit 10-9
AMENDMENT NO. 10 TO CREDIT FACILITY AND SECURITY AGREEMENT
This Amendment No. 10 (the "Amendment") dated as of June 30, 2000, to
Credit Facility and Security Agreement by and between Bank One, NA ("Lender"),
Lexington Precision Corporation ("LPC") and Lexington Rubber Group, Inc.
("LRGI").
WHEREAS, Lender, LPC, and LRGI are parties to a Credit Facility and
Security Agreement dated as of January 31, 1997, including Rider A thereto (the
"Agreement").
WHEREAS, LPC, LRGI, and Lender desire to amend the Agreement as
provided herein.
NOW, THEREFORE, in consideration of the premises and the mutual
promises contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged by the parties hereto,
the parties hereto hereby agree as follows:
1. Capitalized terms used herein, unless otherwise defined herein,
shall have the meaning ascribed thereto in the Agreement.
2. Section 2.A of Rider A to the Agreement is hereby amended in its
entirety to read as follows:
(A)Maintain on a basis consolidated with LPC's direct and indirect
subsidiaries at all times a Tangible Net Worth equal to or greater than (i) TEN
MILLION FOUR HUNDRED THOUSAND AND NO/100 DOLLARS ($10,400,000) from June 30,
2000 through February 1, 2001; and (ii) TWELVE MILLION FOUR HUNDRED THOUSAND AND
NO/100 DOLLARS ($12,400,000) on and after February 1, 2001.
3. Except as specifically amended herein, the Agreement remains in
effect in accordance with its terms.
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IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed and delivered by their respective duly authorized
officers as of the day and year first written above.
BANK ONE, NA
By: Xxxxxx X. Xxxxxx
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Title: Vice President
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LEXINGTON PRECISION CORPORATION
By: Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx
President
LEXINGTON RUBBER GROUP, INC.
By: Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx
President