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Exhibit 10.83
AMENDMENT NO. 6 TO CREDIT FACILITY AND SECURITY AGREEMENT
This Amendment No. 6 (the "Amendment") dated as of
January 31, 1999 to Credit Facility and Security Agreement by and between Bank
One, NA ("Lender"), Lexington Precision Corporation ("LPC") and Lexington
Components, Inc. ("LCI").
WHEREAS, Lender, LPC, and LCI are parties to a Credit Facility
and Security Agreement dated as of January 31, 1997, including Rider A thereto
(the "Agreement").
WHEREAS, LPC, LCI, and Lender desire to amend the Agreement as
provided herein.
NOW, THEREFORE, in consideration of the premises and the
mutual promises contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged by the parties
hereto, the parties hereto hereby agree as follows:
1. Capitalized terms used herein, unless otherwise defined
herein, shall have the meaning ascribed thereto in the Agreement.
2. Section 2.A of Rider A to the Agreement is hereby amended
in its entirety to read as follows:
(A) Maintain on a basis consolidated with LPC's direct
and indirect subsidiaries at all times a Tangible Net Worth equal to or
greater than (i) TEN MILLION FOUR HUNDRED THOUSAND AND NO/100 DOLLARS
($10,400,000) from June 30, 1998 through June 30, 1999; (ii) ELEVEN
MILLION FOUR HUNDRED THOUSAND AND NO/100 DOLLARS ($11,400,000) from July
1, 1999 through December 30, 1999; and (iii) TWELVE MILLION FOUR HUNDRED
THOUSAND AND NO/100 DOLLARS ($12,400,000) on and after December 31, 1999.
3. Section 2.E of Rider A to the Agreement is hereby deleted
in its entirety.
4. Except as specifically amended herein, the Agreement
remains in effect in accordance with its terms.
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IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed and delivered by their respective duly authorized
officers as of the day and year first written above.
BANK ONE, NA
By: Xxxx Xxxx
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Title: Assistant Vice President
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LEXINGTON PRECISION CORPORATION
By: Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx
President
LEXINGTON COMPONENTS, INC.
By: Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx
President
