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[BANKAMERICA LETTERHEAD]
EXHIBIT 10.1(b)
May 1, 1997
LDM Technologies, Inc.
0000 Xxxxxxxxx Xxxxx Xxxxx
Xxxxxx Xxxxx, XX 00000
Attention: Xxxxxxx Xxxx
Chief Executive Officer
Re: $45,000,000 Loan and Security Agreement, dated as of
January 22, 1997, among LDM Technologies, Inc. (the
"Borrower"), the financial institutions from time to
time party thereto (the "Lenders"), and BankAmerica
Business Credit, Inc., as Agent (the "Agent") (as
amended through the date hereof, the "Loan and Security
Agreement")
Gentlemen:
Reference is hereby made to the provisions contained in Section
9.13(d)(iv) of the Loan and Security Agreement (the "Intercompany Loan Clause").
Capitalized terms used herein and not otherwise defined shall have the meaning
provided such term in the Loan and Security Agreement.
The undersigned Majority Banks hereby agree that, subject to the
limitations contained in clause (A) and (B) of the Intercompany Loan Clause,
the Borrower shall be permitted to make loans to LDM Canada pursuant to the
Intercompany Loan Clause without giving effect to the EBITDA limitation
contained in the proviso thereto.
This Letter Agreement shall become effective as of the date
hereof upon the execution and delivery hereof by the Borrower and the Majority
Lenders.
The execution, delivery and effectiveness of this Letter
Agreement shall not operate as a waiver of any right, power or remedy of the
Agent or any Lender under the Loan and Security Agreement or any other Loan
Document, nor constitute a waiver of any provision of the Loan Security
Agreement or any other Loan Document, except as specifically set forth herein.
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May 1, 1997
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THIS LETTER AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS (AS OPPOSED TO CONFLICTS OF LAWS PROVISIONS) OF THE
STATE OF ILLINOIS.
IN WITNESS WHEREOF, the parties have executed this Letter Agreement as
of the date and year first above written.
BANKAMERICA BUSINESS CREDIT, INC.
Individually as a Lender and as Agent
By: [SIG]
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Title: Vice President
AGREED AND ACCEPTED:
LDM TECHNOLOGIES, INC.
By: [SIG]
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Title: Director of Finance
