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Exhibit 10(d)(vi)
LETTER AGREEMENT
May 22, 1997
Crown Crafts, Inc.
0000 XxxxxXxxx Xxxxxxx
Xxxxx 000
Xxxxxxx, Xxxxxxx 00000
Attn: Xx. Xxxxxx Xxxxxxxx, Treasurer
Reference is made to the Revolving Credit Agreement ("Credit Agreement") dated
as of August 25, 1995 as amended by that certain amendment dated May 1, 1996
and that certain amendment dated June 28, 1996 between Crown Crafts, Inc.
("Crown Crafts") and Wachovia Bank of Georgia, N.A. ("Wachovia"). Capitalized
terms not otherwise defined shall have the meanings ascribed to such terms in
the Credit Agreement.
Whereas, the Borrower is required under Article VII of the Agreement to comply
with certain financial covenants regarding the merger, purchase or acquisition
of other Persons.
Whereas, the Borrower has requested that Wachovia amend Section 7.2 of the
Credit Agreement for the period ended 3/30/97.
Now, therefore, pursuant to the request of the Borrower to amend Section 7.2 of
Article VII of the Credit Agreement, the Lender agrees to amend Section 7.2 for
the quarter ended March 30, 1997 to require a minimum Fixed Charge Coverage
Ratio of 1.95. This Letter Agreement shall not in any way be deemed a waiver or
amendment of, or establish a course of dealing in connection with, the Credit
Agreement.
Except as expressly set forth herein, this letter shall not by implication or
otherwise limit, impair, constitute a waiver of, or otherwise affect the rights
and remedies of Wachovia under the Credit Agreement or any related document or
agreement. Except as expressly set forth herein, all of the terms, conditions,
obligations, covenants or agreements contained in the Credit Agreement and any
related document are ratified and affirmed in all respects and shall continue
in full force and effect.
Please indicate your agreement and acceptance by signing a copy of this letter
below and returning it to us.
Sincerely,
BY:/S/XXXXXXX X.X. XXXXX
---------------------------------
Xxxxxxx X.X. Xxxxx
Commercial Officer
Agreed and Accepted by: Crown Crafts, Inc.
BY:/S/XXXXXX X. XXXXXXXX
---------------------------------
Xxxxxx X. Xxxxxxxx
Chief Accounting Officer, Treasurer
