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EXHIBIT 10.18.1
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June 30, 1997
Crescent Jewelers
000 00xx Xxxxxx
Xxxxxxx, Xxxxxxxxxx 00000
Gentlemen:
Reference is made to that certain Loan and Security Agreement (the
"Loan Agreement") dated as of October 15, 1996 among Crescent Jewelers
("Borrower")and Xxxxxxxx'x Inc. ("Lender"). Borrower has requested that Lender
agree to amend the Loan Agreement to increase the capital expenditure
limitation. Lender is willing to do so on the terms and subject to the
conditions set forth herein. Capitalized terms not otherwise defined herein
shall have the meanings ascribed to such terms in the Loan Agreement.
NOW, THEREFORE, in consideration of the foregoing recitals, the mutual
covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto hereby agree as follows:
1. The Loan Agreement is hereby amended as follows:
Paragraph 11(q) to the Loan Agreement is hereby amended to delete the
amount "3,500,000" opposite the Fiscal Year 1997 test date and to insert the
amount "4,000,000" in substitution therefor.
2. This Amendment shall not become effective until Lender has
received each of the following items, in form and substance satisfactory to
Lender:
(a) this Amendment, fully executed by all parties hereto;
(b) evidence that the LaSalle Loan Agreement has been revised
such that the capital expenditures limitation contained therein for Fiscal Year
1997 is equal to $4,000,000.
(c) evidence that each of the documents evidencing the Existing
Subordinated Indebtedness be revised such that the capital expenditures
limitation contained therein for Fiscal Year 1997 is equal to or greater
than(i) $4,000,000 or (ii) $500,000 plus the existing capital expenditure
limitation for Fiscal Year 1997.
3. Except as expressly amended hereby, the Loan Agreement and
Exhibit A thereto remain unchanged and of full force and effect in accordance
with the terms thereof.
XXXXXXXX'X INC.
By /s/
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Its
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Accepted and agreed to
this 30th day of June, 1997
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CRESCENT JEWELERS
By /s/
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Its
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Consented and agreed to by the following guarantors
of the obligations of Borrower to Lender
CRESCENT JEWELERS
By /s/
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Its
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DIAMOND INSURANCE COMPANY
By /s/
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Its
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