EXHIBIT (10)(T)
MTB BANK
00 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000-0000
(000) 000-0000
Fax: 000-0000
June 19, 1996
Segue (America) Limited
c/o Hampshire Group, Limited
000 Xxxxxxxx Xxxxxxxxx
Xxxxxxxx, XX 00000
Attention: Xx. Xxxxxxx Xxxxxxx
Executive Vice President
Dear Xx. Xxxxxxx:
Reference is made to the Credit Agreement dated February 15, 1995 executed by
and between Vintage, Inc. (the "Borrower") and MTB Bank (the "Bank") and the
Letter of Credit and Security Agreement, Corporate Guarantee of Hampshire Group,
Limited, and certain related loan documents executed in connection therewith
(collectively, the "Loan Documents"). Capitalized terms used herein and not
defined herein shall have the meaning set forth in the Loan Documents.
AMENDMENTS
1. The reference in Section I(a) to the maximum amount of outstanding L/C's at
any time of $3,000,000 is hereby amended to $4,500,000.
2. The definition of Borrower is hereby amended to read "Segue (America)
Limited".
3. The reference in Section I(d) of the Credit Agreement to the definition of
L/C fees is hereby amended pursuant to the terms of Exhibit A attached hereto
and made a part hereof which supercedes all previous amounts.
4. The reference in Section I(f) of the Credit Agreement to the Termination Date
as February 29, 1996 is hereby amended to read as April 30, 1997.
The Credit Agreement and each of the other Loan Documents is deemed amended to
the extent necessary to give effect to the foregoing and except as so amended,
each remains in full force and in effect in accordance with its terms.
The Corporate Guarantor acknowledges and confirms that the Obligations referred
to in the Corporate Guarantee includes, without limitation, the indebtedness,
liabilities, and the obligations of the Borrower under the Credit Agreement, as
amended hereby.
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If the foregoing is acceptable to you, kindly have this letter signed and return
it to MTB Bank, 00 Xxxxx Xx., Xxx Xxxx, Xxx Xxxx 00000-0000, Attention: Xx.
Xxxxxxx Xxxxx.
Very truly yours,
MTB BANK
/s/ Xxxxxxx Xxxxxxxx
----------------------
By: Xxxxxxx Xxxxxxxx
Title: Chairman of the Board
/s/ Xxxxxxx Xxxxx
----------------------
By: Xxxxxxx Xxxxx
Title: Chief Lending Officer
Attachment
SEGUE (AMERICA) LIMITED
/s/ Xxxxxxx X. Xxxxxxx
-----------------------
By: Xxxxxxx X. Xxxxxxx
Title: Vice President
HAMPSHIRE GROUP, LIMITED
as Corporate Guarantor
/s/ Xxxxxxx X. Xxxxxxx
------------------------------------
By: Xxxxxxx X. Xxxxxxx
Title: Vice President
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EXHIBIT A
1. Opening Commission 1/4 % (Minimum of $125.)
2. Negotiation Commission 1/4% (Minimum of $125.)
3. Amendments $75
4. Air Releases and Steamship Guarantees $100
5. Cables $75 for L/C issuance
$35 for amendments
6. Customary out-of-pocket expenses (i.e. Courier)
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