EXHIBIT 4.17
GMAC
Commercial
Credit LLC
February 7, 2001
Xxxxxx Drive Away, Inc.
TDI, Inc.
0000 Xxx X.X. 00 Xxxx
Xxxxxxx, XX 00000
Ladies/Gentlemen:
Reference is made to the Revolving Credit and Security Agreement between us
bearing an effective date of July 27, 2001 (the "Agreement"). All capitalized
terms not otherwise defined herein shall have such meaning as are ascribed to
them under the Agreement.
This letter shall serve to confirm that the Agreement shall be temporarily
amended by suspending, until April 30, 2002, the requirements set forth in
Section 12(s), requiring Borrower to at all time maintain Minimum Excess
Borrowing Availability of not less than Five Hundred Thousand Dollars
($500,000.00). Effective April 30, 2002, the provisions of Section 12(s) shall
be reinstated and enforced. This of course should not in any way be regarded as
a waiver or suspension of any other provision of the Agreement either temporary
or otherwise as it is our expectation that you will remain in compliance with
all of the terms and provisions of the Agreement.
This letter shall also serve to confirm that we will extend to you a
temporary discretionary over-advance facility of up to Five Hundred Thousand
Dollars ($500,000.00) in excess of the Formula Amount until March 30, 2002.
Effective March 30, 2002, this over-advance facility shall terminate and it is
our expectation that all of your Loans shall be within the Formula Amount.
Except as hereby modified or amended all of the terms and provision of the
Agreement shall continue to remain in full force and effect in accordance with
their original terms.
If the foregoing correctly sets forth the agreement between us please
execute a copy of this letter in the space provided below and return an executed
copy to our offices.
Yours very truly,
GMAC COMMERCIAL CREDIT LLC
By: /s/ Xxxxx Xxxxxxxx
-------------------------------------
Name: Xxxxx Xxxxxxxx
Title: SVP
READ AND AGREED TO:
XXXXXX DRIVE AWAY, INC.
By: /s/ Xxxx X. Xxxxxxx
--------------------------------
Name: Xxxx X. Xxxxxxx
Title: Exec VP Finance & Admin
TDI, Inc.
By: /s/ Xxxx X. Xxxxxxx
---------------------------------
Name: Xxxx X. Xxxxxxx
Title: Exec VP Finance & Admin
