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EXHIBIT 10.58
FIFTH AMENDMENT TO GUARANTY AGREEMENT
THIS FIFTH AMENDMENT TO GUARANTY AGREEMENT (the "Fifth Amendment"),
dated as of June 5, 1997, is made by and between
CONSO PRODUCTS COMPANY, a corporation organized and existing under the
laws of the State of South Carolina (the "Guarantor"); and
NATIONSBANK, N.A., a national banking association organized and
existing under the laws of the United States (the "Bank").
RECITALS:
A. The Guarantor entered into that certain Guaranty Agreement, dated
May 6, 1994, as amended (the "Guaranty Agreement").
B. The Guarantor and the Bank have agreed to modify and amend the
Guaranty Agreement as set forth herein.
NOW THEREFORE, the parties hereto agree as follows:
1. The Guaranty Agreement is hereby amended as follows:
(a) Recital 1 is amended in its entirety so that such Recital now
reads as follows:
1. The Bank has agreed to make loans (the "Loans") to
the Borrower pursuant to the terms and conditions of that
certain Promissory Note, dated June 5, 1997, executed by the
Borrower in favor of the Bank in the original principal amount
of up to (pound)6,000,000 (the "Note").
2. Except as hereby modified, all the terms and provisions of the
Guaranty Agreement remain in full force and effect.
3. The Guarantor will execute such additional documents as are
reasonably requested by the Bank to reflect the terms and conditions of this
Fifth Amendment and will cause to be delivered such certificates, legal opinions
and other documents as are reasonably required by the Bank.
4. This Fifth Amendment may be executed in any number of counterparts,
each of which when so executed and delivered shall be deemed an original, and it
shall not be necessary in making proof of this Fifth Amendment to produce or
account for more than one counterpart.
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5. This Fifth Amendment and all other documents executed pursuant to
the transactions contemplated herein shall be deemed to be contracts made under,
and for all purposes shall be construed in accordance with, the internal laws
and judicial decisions of the State of North Carolina.
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IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment
to be executed by their fully authorized officers as of the day and year first
above written.
CONSO PRODUCTS COMPANY
ATTEST:
By: /s/ Konstance X. X. Xxxxxxx By: /s/ X. Xxxx Findlay
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Title: Secretary Title: Chairman
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(Corporate Seal)
NATIONSBANK, N.A.
By: /s/ Xxxxxxx X. Xxxxxxxx
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Xxxxxxx X. Xxxxxxxx,
Senior Vice President
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