1
EXHIBIT 4.8
[BANK1ONE LETTERHEAD]
Xxxxxx X. Xxxx
First Vice President &
Managing Director
May 30, 2000
Mr. Xxxx Xxxxxxx
Controller
Childtime Childcare, Inc.
00000 Xxxx 00 Xxxx Xxxx
Xxxxx 000
Xxxxxxxxxx Xxxxx, XX 00000
Dear Xxxx:
This Letter Agreement dated May 30, 2000 serves to amend the Total Liabilities
to Tangible Net Worth negative covenant pursuant to section 5.2 (b) of the
February 1, 1996 Credit Agreement among Childtime Childcare, Inc. and Bank One
(f/k/a NBD Bank). Specifically, the Total Liabilities to Tangible Net Worth
covenant is amended from not less than 1.00:1.00 to not less than 1.15:1.00,
commencing on March 31, 2000.
If you should have any questions, please feel free to call.
Sincerely,
/s/ Xxxxxx X. Xxxx
-----------------------------------
Xxxxxx X. Xxxx
Managing Director
/s/ Xxxxx X. Xxxxxx
-----------------------------------
Xxxxx X. Xxxxxx
First Vice President/Credit Officer
