September 28, 1995
Xxxxxx X. X'Xxxxxxx, Xx.
Questech, Inc.
0000-X Xxxxxxxx Xxxx
Xxxxx Xxxxxx, Xxxxxxxx 00000
Re: Loan and Security Agreement dated as of July 15, 1991
Amendment No. 12
Gentlemen:
Reference is made to the Loan and Security Agreement by and among Questech,
Inc. And Questech Service Company, (the "Borrowers") and Signet Bank/Virginia
(the "Lender") dated July 15, 1991 (the "Loan Agreement"). Terms defined in
the Loan Agreement shall have the same defined meanings when used herein.
The definition of the term listed below, as found in Section 1 of the Loan
Agreement, is hereby amended in full to read as follows:
"Termination Date" means December 31, 1995, and any extension or
extensions thereof granted by the Lender in its sole discretion.
Section 6.8 of the Loan Agreement is hereby amended in full to read as
follows:
6.8 Loans. Make, or permit any Subsidiary to make, any loan or
advance to any person except for loans to employees, officers or directors of
the Borrower or any Subsidiary not exceeding $50,000.00 in the aggregate at
any time outstanding, and travel advances necessary for the performance under
certain of the Borrowers' contracts, not exceeding $180,000.00 in the
aggregate at any time outstanding.
Except as amended hereby, all other terms and conditions of the Loan Agreement
are ratified and confirmed in all respects.
Please acknowledge your acceptance of the above terms and modifications by
signing below and returning the original of this letter to my attention.
Sincerely,
Signet Bank/Virginia
Xxxxxxx X. Xxxxx
Senior Vice President
Acknowledged and accepted this _____ day of _______, 1995.
Questech, Inc. Questech Service Company
By: ________________________ By: __________________________
