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EXHIBIT 99.1
XXXXXXX PARTNERS, LLC
000 Xxxxxxx Xxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000
September 25, 2001
Xx. Xxxx X. Xxxxxxx
President and CEO
Xxxxxxx International, Ltd.
Xxx Xxxxxxxxx Xxxx
Xxxxxxx, XX 00000-0000
Dear Xx. Xxxxxxx:
In accordance with a $4,000,000 term note dated October 2, 1998 (the
"Term Note") by and between Xxxxxxx Partners, LLC (the "Lender") and Xxxxxxx
International, Ltd. (the "Company"), the Company is obligated to make seven (7)
monthly principal payments in the amount of $200,000 each under the Term Note
commencing on October 1, 2001 and continuing and including April 1, 2002.
The Lender hereby agrees to defer payment of all principal and interest
otherwise due under the Term Note after the date of this letter until the date
which is the earlier of (a) the date which is thirty (30) days following the
expiration of the Company's planned rights offering to its stockholders or (b)
December 31, 2001.
Sincerely yours,
XXXXXXX PARTNERS, LLC
By:/s/ Xxxxxx X. Xxxxx
______________________________________
Name: Xxxxxx X. Xxxxx
Title: Managing Member
