EXHIBIT 4.1
WAIVER OF DEFAULT
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Forstmann & Company, Inc. ("Borrower") and General Electric Capital
Corporation ("GE Capital") are parties to that certain Amended and Restated
Debtor-in-Possession Loan Agreement dated as of September 27, 1995 among
Borrower, the Lenders named therein and GE Capital as Agent for the Lenders (as
amended to date, the "Agreement"). Pursuant to Section 11.2 of the Agreement,
GE Capital hereby waives the breach by Borrower of the negative covenant
contained in Section 6.21 of the Agreement caused by Borrower's failure to
achieve an EBITDA (as defined in the Agreement) of $3,000,000 or more with
respect to the January/February 1996 time period. The waiver contained in this
instrument shall be strictly construed and shall not apply to any other breach
of Borrower's representations, warranties, covenants or agreements under the
Agreement, whether now existing or hereafter arising.
This instrument has been executed by GE Capital and is effective this 8th day
of March, 1996.
GENERAL ELECTRIC CAPITAL,
CORPORATION, as Lender and Agent
By:/s/Xxxx Luck
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Xxxx Luck
Vice President
GE Commercial Finance, Inc., being
duly authorized
