EXHIBIT 10.1
THIRD AMENDMENT TO FORBEARANCE AGREEMENT
This Third Amendment to Forbearance Agreement (the "Amendment") is
entered into as of this 4th day of May, 2009 by and among Ronson Corporation, a
New Jersey corporation ("Parent"), Ronson Consumer Products Corporation, a New
Jersey corporation ("RCPC"), Ronson Aviation, Inc., a New Jersey corporation
("RAI") and Ronson Corporation of Canada Ltd., an Ontario corporation ("Ronson
Canada") (RCPC and RAI are collectively and individually referred to as the
"Domestic Borrower" or "Domestic Borrowers"; the Domestic Borrower and Ronson
Canada are collectively and individually referred to as the "Borrower" or
"Borrowers", and the Borrowers, together with Parent are collectively and
individually referred to as the "Obligors") and Xxxxx Fargo Bank, National
Association ("Lender"), acting through its Xxxxx Fargo Business Credit operating
division.
RECITALS:
Borrowers and Lender are parties to a certain Credit and Security
Agreement dated as of May 30, 2008 (as amended, modified, supplemented or
restated from time to time, the "Credit Agreement"), relating to financing by
Lender to Borrowers.
Certain Events of Default occurred under the Credit Agreement and, as a
result thereof, Lender and Borrowers entered into that certain Forbearance
Agreement dated as of March 29, 2009 (as amended, modified, supplemented or
restated from time to time, the "Forbearance Agreement"; capitalized terms used
but not specifically defined herein shall have the meanings provided for such
terms in the Forbearance Agreement), whereby Lender agreed to forbear from
exercising certain of its rights and remedies available as a result of the
Existing Events of Default.
The Forbearance Agreement expires pursuant to its terms not later than
May 4, 2009.
Borrowers have requested that Lender amend the definition of
Termination Event to extend the stated expiration date in the Forbearance
Agreement from May 4, 2009 to June 12, 2009 in order to provide Borrowers with
additional time to explore a Liquidity Transaction and to amend certain terms
and conditions of the Credit Agreement.
Lender has considered Borrowers' request and, in an effort to continue
working with Borrowers, hereby agrees to amend the Forbearance Agreement and the
Credit Agreement on the terms and conditions set forth below.
NOW, THEREFORE, for and in consideration of the foregoing and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
1. Amendment to Credit Agreement. As of the date hereof, the definition
-----------------------------
of Maximum Line Amount set forth in Section 1.1 of the Credit Agreement is
amended and restated in its entirety to read as follows:
1
"Maximum Line Amount" means $2,500,000, unless this amount is
reduced pursuant to Section 2.12, in which event it means such lower
amount.
2. Amendment to Forbearance Agreement. As of the date hereof, Section
-----------------------------------
2(b) of the Forbearance Agreement shall be amended and restated in its entirety
to read as follows:
(a) For purposes of this Agreement, a "Termination Event" shall mean
the earliest to occur of (i) June 12, 2009 and (ii) any one or more of the
following:
(A) the failure of the Obligors to comply with the terms,
covenants, agreements and conditions of this Agreement;
(B) any representation or warranty made herein shall be
incorrect in any material respect;
(C) the occurrence of any Event of Default under the Credit
Agreement, other than the Existing Events of Default;
(D) Obligors shall fail to employ a CRO (as defined below)
throughout the term of this Agreement;
(E) in the Lender's discretion, it determines that Parent is
no longer actively pursuing a Liquidity Transaction; and
(F) Any Person, other than Lender, shall exercise its rights
and remedies against the Obligors as a result of defaults or events of
defaults arising under any agreement between Obligors and such Person
due to cross-defaults arising from the Existing Events of Default.
3. RCPC Raw Materials Advance Rate. Obligors acknowledge and agree that
-------------------------------
based on a recent appraisal obtained by Lender, Lender shall adjust the
Inventory advance rate on Eligible Inventory of RCPC constituting raw materials
to seventeen percent (17%) of cost, which is equal to 85% of the Net Orderly
Liquidation Value of such Inventory.
4. Sums Secured; Estoppel. The Obligors acknowledge and reaffirm that
-----------------------
their obligations to Lender as set forth in and evidenced by the Loan Documents
are due and owing without any defenses, set-offs, recoupments, claims or
counterclaims of any kind as of the date hereof. To the extent that any
defenses, set-offs, recoupments, claims or counterclaims may exist as of the
date hereof, the Obligors waive and release Lender from the same.
5. No Other Changes. Except as explicitly amended by this Amendment,
----------------
all of the terms and conditions of the Forbearance Agreement shall remain in
full force and effect.
6. References. All references in the Forbearance Agreement to "this
----------
Agreement" shall be deemed to refer to the Forbearance Agreement as amended
hereby.
7. No Waiver. The execution of this Amendment shall not be deemed to be
---------
a waiver of any Default or Event of Default under the Credit Agreement, a waiver
of any Termination Event under the Forbearance Agreement or breach, default or
event of default under any Loan Documents or other document held by Lender,
whether or not known to Lender and whether or not existing on the date of this
Amendment.
2
8. Waiver and Release of Claims and Defenses. The Obligors hereby waive
-----------------------------------------
and release all claims and demands of any nature whatsoever that they now have
or may have against Lender, whether arising under the Loan Documents or by any
acts or omissions of Lender, or any of its directors, officers, employees,
affiliates, attorneys or agents, or otherwise, and whether known or unknown,
existing as of the date of the execution of this Amendment, and further waive
and release any and all defenses of any nature whatsoever to the payment of the
Obligations or the performance of their obligations under Loan Documents.
9. Reaffirmation of Loan Documents. The Obligors hereby agree with,
---------------------------------
reaffirm and acknowledge their representations and warranties contained in the
Loan Documents. Furthermore, the Obligors represent that their representations
and warranties contained in the Loan Documents continue to be true and in full
force and effect. This agreement, reaffirmation and acknowledgment is given to
Lender by the Obligors without defenses, claims or counterclaims of any kind. To
the extent that any such defenses, claims or counterclaims against Lender may
exist, the Obligors waive and release Lender from same.
10. Ratification and Reaffirmation of Loan Documents. The Obligors
---------------------------------------------------
ratify and reaffirm all terms, covenants, conditions and agreements contained in
the Loan Documents.
11. No Preferential Treatment. No Obligor has entered into this
---------------------------
Amendment to provide any preferential treatment to Lender or any other creditor.
No Obligor intends to file for protection or seek relief under the United States
Bankruptcy Code or any similar federal or state law providing for the relief of
debtors.
12. Legal Representation. Each of the parties hereto acknowledge that
---------------------
they have been represented by independent legal counsel in connection with the
execution of this Amendment, that they are fully aware of the terms and
conditions contained herein, and that they have entered into and executed the
within Amendment as a voluntary action and without coercion or duress of any
kind.
13. Partial Invalidity; No Repudiation. If any of the provisions of
-------------------------------------
this Amendment shall contravene or be held invalid under the laws of any
jurisdiction, this Amendment shall be construed as if not containing such
provisions and the rights, remedies, warranties, representations, covenants, and
provisions hereof shall be construed and enforced accordingly in such
jurisdiction and shall not in any manner affect such provision in any other
jurisdiction, or any other provisions of this Amendment in any jurisdiction.
14. Binding Effect. This Amendment is binding upon the parties hereto
---------------
and their respective heirs, administrators, executors, officers, directors,
representatives and agents.
15. Governing Law. This Amendment shall be governed by the laws of the
-------------
State of New York.
16. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO WAIVE THE RIGHT TO
--------------------
A TRIAL BY JURY, AS TO ANY ACTION WHICH MAY ARISE AS A RESULT OF THE LOAN
DOCUMENTS, THIS AGREEMENT OR ANY DOCUMENT EXECUTED IN CONNECTION HEREWITH.
3
17. Counterparts. This Amendment and/or any documentation contemplated
------------
or required in connection herewith may be executed in any number of
counterparts, each of which shall be deemed an original and all of which shall
be considered one and the same document. Delivery of an executed counterpart of
a signature page of this document by facsimile shall be effective as delivery of
a manually executed counterpart of this document.
[Signature pages follow]
4
IN WITNESS WHEREOF, the parties hereto, intending to be legally bound
hereby, do hereby execute this Amendment the date and year first above written.
RONSON CORPORATION
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON CONSUMER PRODUCTS CORPORATION
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON AVIATION, INC.
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON CORPORATION OF CANADA LTD.
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
XXXXX FARGO BANK, NATIONAL ASSOCIATION
By: S/XXXXX XXXXXX, V.P.
----------------------------------
Xxxxx Xxxxxx, Vice President
5
SECOND AMENDMENT TO FORBEARANCE AGREEMENT
This Second Amendment to Forbearance Agreement (the "Amendment") is
entered into as of this 29th day of April, 2009 by and among Ronson Corporation,
a New Jersey corporation ("Parent"), Ronson Consumer Products Corporation, a New
Jersey corporation ("RCPC"), Ronson Aviation, Inc., a New Jersey corporation
("RAI") and Ronson Corporation of Canada Ltd., an Ontario corporation ("Ronson
Canada") (RCPC and RAI are collectively and individually referred to as the
"Domestic Borrower" or "Domestic Borrowers"; the Domestic Borrower and Ronson
Canada are collectively and individually referred to as the "Borrower" or
"Borrowers", and the Borrowers, together with Parent are collectively and
individually referred to as the "Obligors") and Xxxxx Fargo Bank, National
Association ("Lender"), acting through its Xxxxx Fargo Business Credit operating
division.
RECITALS:
Borrowers and Lender are parties to a certain Credit and Security
Agreement dated as of May 30, 2008 (as amended, modified, supplemented or
restated from time to time, the "Credit Agreement"), relating to financing by
Lender to Borrowers.
Certain events of default occurred under the Credit Agreement and, as a
result thereof, Lender and Borrowers entered into that certain Forbearance
Agreement dated as of March 29, 2009 (as amended from time to time, the
"Forbearance Agreement"; capitalized terms used but not specifically defined
herein shall have the meanings provided for such terms in the Forbearance
Agreement), whereby Lender agreed to forbear from exercising certain of its
rights and remedies available as a result of the Existing Events of Default.
The Forbearance Agreement expires pursuant to its terms not later than
April 29, 2009.
Borrowers have requested that Lender amend the definition of
Termination Event to extend the stated expiration date in the Forbearance
Agreement from April 29, 2009 to May 4, 2009 in order to provide Borrowers with
additional time to explore a Liquidity Transaction.
Lender has considered Borrowers' request and, in an effort to continue
working with Borrowers, hereby agrees to amend the Forbearance Agreement on the
terms and conditions set forth below.
NOW, THEREFORE, for and in consideration of the foregoing and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
1. Amendment to Forbearance Agreement.
----------------------------------
(a) As of the date hereof, Section 2(b) of the Forbearance Agreement
shall be amended and restated in its entirety to read as follows:
(A) For purposes of this Agreement, a "Termination Event"
shall mean the earliest to occur of (i) May 4, 2009 and (ii) any one or
more of the following:
1
(B) the failure of the Obligors to comply with the terms,
covenants, agreements and conditions of this Agreement;
(C) any representation or warranty made herein shall be
incorrect in any material respect;
(D) the occurrence of any Event of Default under the Credit
Agreement, other than the Existing Events of Default;
(E) Obligors shall fail to employ a CRO (as defined below)
throughout the forbearance period;
(F) in the Lender's discretion, it determines that Parent is
no longer actively pursuing a Liquidity Transaction; and
(G) Any Person, other than Lender, shall exercise its rights
and remedies against the Obligors as a result of defaults or events of
defaults arising under any agreement between Obligors and such Person
due to cross-defaults arising from the Existing Events of Default.
2. Sums Secured; Estoppel. The Obligors acknowledge and reaffirm that
-----------------------
their obligations to Lender as set forth in and evidenced by the Loan Documents
are due and owing without any defenses, set-offs, recoupments, claims or
counterclaims of any kind as of the date hereof. To the extent that any
defenses, set-offs, recoupments, claims or counterclaims may exist as of the
date hereof, the Obligors waive and release Lender from the same.
3. No Other Changes. Except as explicitly amended by this Amendment,
----------------
all of the terms and conditions of the Forbearance Agreement shall remain in
full force and effect.
4. References. All references in the Forbearance Agreement to "this
----------
Agreement" shall be deemed to refer to the Forbearance Agreement as amended
hereby.
5. No Waiver. The execution of this Amendment shall not be deemed to be
---------
a waiver of any Default or Event of Default under the Credit Agreement, a waiver
of any Termination Event under the Forbearance Agreement or breach, default or
event of default under any Loan Documents or other document held by Lender,
whether or not known to Lender and whether or not existing on the date of this
Amendment.
6. Waiver and Release of Claims and Defenses. The Obligors hereby waive
-----------------------------------------
and release all claims and demands of any nature whatsoever that they now have
or may have against Lender, whether arising under the Loan Documents or by any
acts or omissions of Lender, or any of its directors, officers, employees,
affiliates, attorneys or agents, or otherwise, and whether known or unknown,
existing as of the date of the execution of this Amendment, and further waive
and release any and all defenses of any nature whatsoever to the payment of the
Obligations or the performance of their obligations under Loan Documents.
7. Reaffirmation of Loan Documents. The Obligors hereby agree with,
---------------------------------
reaffirm and acknowledge their representations and warranties contained in the
Loan Documents. Furthermore, the Obligors represent that their representations
and warranties contained in the Loan Documents continue to be true and in full
force and effect. This agreement, reaffirmation and acknowledgment is given to
Lender by the Obligors without defenses, claims or counterclaims of any kind. To
the extent that any such defenses, claims or counterclaims against Lender may
exist, the Obligors waive and release Lender from same.
2
8. Ratification and Reaffirmation of Loan Documents. The Obligors
----------------------------------------------------
ratify and reaffirm all terms, covenants, conditions and agreements contained in
the Loan Documents.
9. No Preferential Treatment. No Obligor has entered into this
---------------------------
Amendment to provide any preferential treatment to Lender or any other creditor.
No Obligor intends to file for protection or seek relief under the United States
Bankruptcy Code or any similar federal or state law providing for the relief of
debtors.
10. Legal Representation. Each of the parties hereto acknowledge that
---------------------
they have been represented by independent legal counsel in connection with the
execution of this Amendment, that they are fully aware of the terms and
conditions contained herein, and that they have entered into and executed the
within Amendment as a voluntary action and without coercion or duress of any
kind.
11. Partial Invalidity; No Repudiation. If any of the provisions of
-------------------------------------
this Amendment shall contravene or be held invalid under the laws of any
jurisdiction, this Amendment shall be construed as if not containing such
provisions and the rights, remedies, warranties, representations, covenants, and
provisions hereof shall be construed and enforced accordingly in such
jurisdiction and shall not in any manner affect such provision in any other
jurisdiction, or any other provisions of this Amendment in any jurisdiction.
12. Binding Effect. This Amendment is binding upon the parties hereto
---------------
and their respective heirs, administrators, executors, officers, directors,
representatives and agents.
13. Governing Law. This Amendment shall be governed by the laws of the
-------------
State of New York.
14. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO WAIVE THE RIGHT TO
--------------------
A TRIAL BY JURY, AS TO ANY ACTION WHICH MAY ARISE AS A RESULT OF THE LOAN
DOCUMENTS, THIS AGREEMENT OR ANY DOCUMENT EXECUTED IN CONNECTION HEREWITH.
15. Counterparts. This Amendment and/or any documentation contemplated
------------
or required in connection herewith may be executed in any number of
counterparts, each of which shall be deemed an original and all of which shall
be considered one and the same document. Delivery of an executed counterpart of
a signature page of this document by facsimile shall be effective as delivery of
a manually executed counterpart of this document.
[Signature pages follow]
3
IN WITNESS WHEREOF, the parties hereto, intending to be legally bound
hereby, do hereby execute this Amendment the date and year first above written.
RONSON CORPORATION
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON CONSUMER PRODUCTS CORPORATION
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON AVIATION, INC.
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON CORPORATION OF CANADA LTD.
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
XXXXX FARGO BANK, NATIONAL ASSOCIATION
By: S/XXXXX XXXXXX, V.P.
----------------------------------
Xxxxx Xxxxxx, Vice President
4
AMENDMENT TO FORBEARANCE AGREEMENT
This Amendment to Forbearance Agreement (the "Amendment") is entered
into as of this 24th day of April, 2009 by and among Ronson Corporation, a New
Jersey corporation ("Parent"), Ronson Consumer Products Corporation, a New
Jersey corporation ("RCPC"), Ronson Aviation, Inc., a New Jersey corporation
("RAI") and Ronson Corporation of Canada Ltd., an Ontario corporation ("Ronson
Canada") (RCPC and RAI are collectively and individually referred to as the
"Domestic Borrower" or "Domestic Borrowers"; the Domestic Borrower and Ronson
Canada are collectively and individually referred to as the "Borrower" or
"Borrowers", and the Borrowers, together with Parent are collectively and
individually referred to as the "Obligors") and Xxxxx Fargo Bank, National
Association ("Lender"), acting through its Xxxxx Fargo Business Credit operating
division.
RECITALS:
Borrowers and Lender are parties to a certain Credit and Security
Agreement dated as of May 30, 2008 (as amended, modified, supplemented or
restated from time to time, the "Credit Agreement"), relating to financing by
Lender to Borrowers.
Certain events of default occurred under the Credit Agreement and, as a
result thereof, Lender and Borrowers entered into that certain Forbearance
Agreement dated as of March 29, 2009 (the "Forbearance Agreement"; capitalized
terms used but not specifically defined herein shall have the meanings provided
for such terms in the Forbearance Agreement), whereby Lender agreed to forbear
from exercising certain of its rights and remedies available as a result of the
Existing Events of Default.
The Forbearance Agreement expires pursuant to its terms not later than
April 24, 2009.
Borrowers have requested that Lender amend the definition of
Termination Event to extend the stated expiration date in the Forbearance
Agreement from April 24, 2009 to April 29, 2009 in order to provide Borrowers
with additional time to explore a Liquidity Transaction.
Lender has considered Borrowers' request and, in an effort to continue
working with Borrowers, hereby agrees to amend the Forbearance Agreement on the
terms and conditions set forth below.
NOW, THEREFORE, for and in consideration of the foregoing and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
1. Amendment to Forbearance Agreement.
----------------------------------
(a) As of the date hereof, Section 2(b) of the Forbearance Agreement
shall be amended and restated in its entirety to read as follows:
(A) For purposes of this Agreement, a "Termination Event"
shall mean the earliest to occur of (i) April 29, 2009 and (ii) any one
or more of the following:
1
(B) the failure of the Obligors to comply with the terms,
covenants, agreements and conditions of this Agreement;
(C) any representation or warranty made herein shall be
incorrect in any material respect;
(D) the occurrence of any Event of Default under the Credit
Agreement, other than the Existing Events of Default;
(E) Obligors shall fail to employ a CRO (as defined below)
throughout the Forbearance Period;
(F) in the Lender's discretion, it determines that Parent is
no longer actively pursuing a Liquidity Transaction; and
(G) Any Person, other than Lender, shall exercise its rights
and remedies against the Obligors as a result of defaults or events of
defaults arising under any agreement between Obligors and such Person
due to cross-defaults arising from the Existing Events of Default.
2. Sums Secured; Estoppel. The Obligors acknowledge and reaffirm that
-----------------------
their obligations to Lender as set forth in and evidenced by the Loan Documents
are due and owing without any defenses, set-offs, recoupments, claims or
counterclaims of any kind as of the date hereof. To the extent that any
defenses, set-offs, recoupments, claims or counterclaims may exist as of the
date hereof, the Obligors waive and release Lender from the same.
3. No Other Changes. Except as explicitly amended by this Amendment,
----------------
all of the terms and conditions of the Forbearance Agreement shall remain in
full force and effect.
4. References. All references in the Forbearance Agreement to "this
----------
Agreement" shall be deemed to refer to the Forbearance Agreement as amended
hereby.
5. No Waiver. The execution of this Amendment shall not be deemed to be
---------
a waiver of any Default or Event of Default under the Credit Agreement, a waiver
of any Termination Event under the Forbearance Agreement or breach, default or
event of default under any Loan Documents or other document held by Lender,
whether or not known to Lender and whether or not existing on the date of this
Amendment.
6. Waiver and Release of Claims and Defenses. The Obligors hereby waive
-----------------------------------------
and release all claims and demands of any nature whatsoever that they now have
or may have against Lender, whether arising under the Loan Documents or by any
acts or omissions of Lender, or any of its directors, officers, employees,
affiliates, attorneys or agents, or otherwise, and whether known or unknown,
existing as of the date of the execution of this Amendment, and further waive
and release any and all defenses of any nature whatsoever to the payment of the
Obligations or the performance of their obligations under Loan Documents.
7. Reaffirmation of Loan Documents. The Obligors hereby agree with,
---------------------------------
reaffirm and acknowledge their representations and warranties contained in the
Loan Documents. Furthermore, the Obligors represent that their representations
and warranties contained in the Loan Documents continue to be true and in full
force and effect. This agreement, reaffirmation and acknowledgment is given to
Lender by the Obligors without defenses, claims or counterclaims of any kind. To
the extent that any such defenses, claims or counterclaims against Lender may
exist, the Obligors waive and release Lender from same.
2
8. Ratification and Reaffirmation of Loan Documents. The Obligors
----------------------------------------------------
ratify and reaffirm all terms, covenants, conditions and agreements contained in
the Loan Documents.
9. No Preferential Treatment. No Obligor has entered into this
---------------------------
Amendment to provide any preferential treatment to Lender or any other creditor.
No Obligor intends to file for protection or seek relief under the United States
Bankruptcy Code or any similar federal or state law providing for the relief of
debtors.
10. Legal Representation. Each of the parties hereto acknowledge that
---------------------
they have been represented by independent legal counsel in connection with the
execution of this Amendment, that they are fully aware of the terms and
conditions contained herein, and that they have entered into and executed the
within Amendment as a voluntary action and without coercion or duress of any
kind.
11. Partial Invalidity; No Repudiation. If any of the provisions of
-------------------------------------
this Amendment shall contravene or be held invalid under the laws of any
jurisdiction, this Amendment shall be construed as if not containing such
provisions and the rights, remedies, warranties, representations, covenants, and
provisions hereof shall be construed and enforced accordingly in such
jurisdiction and shall not in any manner affect such provision in any other
jurisdiction, or any other provisions of this Amendment in any jurisdiction.
12. Binding Effect. This Amendment is binding upon the parties hereto
---------------
and their respective heirs, administrators, executors, officers, directors,
representatives and agents.
13. Governing Law. This Amendment shall be governed by the laws of the
-------------
State of New York.
14. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO WAIVE THE RIGHT TO
--------------------
A TRIAL BY JURY, AS TO ANY ACTION WHICH MAY ARISE AS A RESULT OF THE LOAN
DOCUMENTS, THIS AGREEMENT OR ANY DOCUMENT EXECUTED IN CONNECTION HEREWITH.
15. Counterparts. This Amendment and/or any documentation contemplated
------------
or required in connection herewith may be executed in any number of
counterparts, each of which shall be deemed an original and all of which shall
be considered one and the same document. Delivery of an executed counterpart of
a signature page of this document by facsimile shall be effective as delivery of
a manually executed counterpart of this document.
[Signature pages follow]
3
IN WITNESS WHEREOF, the parties hereto, intending to be legally bound
hereby, do hereby execute this Amendment the date and year first above written.
RONSON CORPORATION
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON CONSUMER PRODUCTS CORPORATION
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON AVIATION, INC.
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
RONSON CORPORATION OF CANADA LTD.
By: S/XXXX XXXXXXX
----------------------------------
Print Name: Xxxx Xxxxxxx
Print Title: Chief Restructuring Officer
XXXXX FARGO BANK, NATIONAL ASSOCIATION
By: S/XXXXX XXXXXX, V.P.
----------------------------------
Xxxxx Xxxxxx, Vice President
4
