WAIVER
WAIVER, dated as of April 15, 1999, (the "Effective Date") to the Credit
Agreement, dated as of February 27, 1998 (as amended, modified or supplemented
from time to time, the "Credit Agreement"), among Foamex Carpet Cushion, Inc.
("Foamex Carpet"), the institutions party thereto as Lenders (the "Lenders"),
the institutions party thereto as Issuing Banks, and Citicorp USA, Inc. and The
Bank of Nova Scotia as Administrative Agents.
The Lenders hereby temporarily waive compliance by Foamex Carpet of the
financial covenants contained in Article X of the Credit Agreement to the
extent, but only to the extent, of the period of time commencing on the
Effective Date and extending through and including May 5, 1999. As of May 6,
1999 all such financial covenants shall be in full force and effect as though
they had never been waived.
This Waiver shall be governed by and construed in accordance with the
laws of the State of New York. This Waiver may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. Capitalized terms
not defined herein shall have the meanings ascribed to them in the Credit
Agreement.
IN WITNESS WHEREOF, the undersigned have executed this Waiver as of the
date first written above.
FOAMEX CARPET CUSHION, INC.
By: /s/ Xxxxxx X. Xxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxx
Title: Senior Vice President
CITICORP USA, INC.
By: /s/
---------------------------------
Name:
Title:
THE BANK OF NOVA SCOTIA
By: /s/ Xxxxx Xxxxx
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Name: Xxxxx Xxxxx
Title: Senior Relationship Manager
