EXHIBIT 10.17
THE BANK
LOAN MODIFICATION AGREEMENT
K-Tron America, Inc.
X.X. Xxx 000
Xxxxxx, XX 00000-0000
Date: December 31, 2003 Account #: 0000000-6600
Original Amount: $5,000,000.00 Present Balance: $1,834,500.00
WHEREAS, the undersigned borrower executed the note referred to above on JUNE
27, 1998 And,
WHEREAS, loan documents as applicable, executed by the borrowers allows for a
modification of interest rate, due date or other terms or conditions without
affecting the priority of The Bank's lien.
NOW, therefore, in consideration of a modification fee of $0.00, the above
referenced note is modified as follows:
COMMITMENT The total commitment on the line of credit is hereby
increased from $4,000,000.00 to $5,000,000.00 effective
December 31, 2003.
All other terms and conditions of the original note, commitment letter and any
security thereto attached is fully incorporated herein and fully ratified except
as specifically modified by this modification agreement.
THE BANK K-TRON AMERICA, INC.
BY: /s/ Xxxxx X. Xxxxxxxx 2/10/04 /s/ Xxxxxxxx X. Xxxxx 2/5/04
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XXXXX X. XXXXXXXX, XX. DATE XXXXXXXX X. XXXXX DATE
EXECUTIVE VICE PRESIDENT VP/FINANCE
/s/ Xxxx X. Xxxxxxx 2/5/04
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XXXX X. XXXXXXX SECRETARY DATE
