SMH CAPITAL letterhead]
Exhibit
10.09
[SMH
CAPITAL letterhead]
June 23,
2009
Prosperity
Bank
000
Xxxxxx Xxxxxx, Xxxxx X000
Houston,
Texas 77002
Attention
of Xxxxxxx X. Xxxxxx, President-Houston Area
Re: Credit
Agreement Dated as of May 11, 2009, between
Xxxxxxx
Xxxxxx Xxxxxx Group Inc. and Prosperity Bank
Ladies
and Gentlemen:
Reference
is made to the Credit Agreement Dated as of May 11, 2009 (the “Credit
Agreement”), between Xxxxxxx Xxxxxx Xxxxxx Group Inc. (“Borrower”) and
Prosperity Bank (“Lender”), pursuant to which Xxxxxx made a $25,000,000 term
loan to Borrower on the terms and conditions set forth in the Credit Agreement.
Terms used herein with their initial letter capitalized shall have the meaning
assigned to them in the Credit Agreement unless otherwise defined
herein.
The
purpose of this letter is to amend the affirmative covenant set forth in Section
5.17 of Article V of the Credit Agreement.
In
consideration of the foregoing and the following mutual agreements, the Lender
and Xxxxxxxx agree as follows:
1. Section
5.17 of the Credit Agreement is deleted and the following substituted in place
thereof:
Section
5.17. Capital Markets
Division Disposition. Consummate in full to the satisfaction
of the Lender the Capital Markets Division Disposition on or prior to September
1, 2009.
2. Except
as modified by the foregoing amendment, all terms, conditions, and provisions of
the Credit Agreement are and shall remain in full force and effect.
Prosperity
Bank
June 23,
2009
Page
2
Please
acknowledge your agreement with the foregoing amendment by signing this letter
in the space provided below.
Very
truly yours,
Xxxxxxx
Xxxxxx Xxxxxx Group Inc.
By: /s/
Xxxx Xxxxx
Xxxx
Xxxxx, Chief Financial Officer
Accepted
and agreed to this 23rd day of
June,
2009.
Prosperity
Bank
By: /s/
Xxxxxxx X. Xxxxxx
Name:
Xxxxxxx X. Xxxxxx
Title:
President-Houston Area
