Exhibit 10.18
[Union Bank of California letterhead]
April 24, 2001
VIA FACSIMILE AND FIRST-CLASS U.S. MAIL
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SVI Solutions, Inc.
00000 Xxxx Xxxxx Xxxxx
Xxxxx 000
Xxx Xxxxx, Xxxxxxxxxx 00000
Attention: Xx. Xxxxx X'Xxxxx
Chief Financial Officer
Dear Xxxxx:
Reference is made to the Term Loan Agreement, dated as of June 3, 1999,
by and between SVI Solutions, Inc., a Delaware corporation (successor-by-merger
to SVI Holdings, Inc., a Nevada corporation) ("Borrower"), and Union Bank of
California, N.A. (the "Bank"), as amended (collectively, the "Loan Agreement").
All capitalized terms used in this letter without definition shall have the
respective meanings specified in the Loan Agreement.
This letter shall confirm that Bank has agreed to extend the term of
the Loan Agreement for thirty days, through April 30, 2001. All other terms of
the Loan Agreement and the other Loan Documents are unchanged.
Please indicate your agreement to the terms of this letter by signing
in the space provided below. Of course, if you have any questions, please give
me a call.
Very truly yours,
UNION BANK OF CALIFORNIA, N.A.
By: /s/ Xxxx Xxxxxxx
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Xxxx Xxxxxxx
Vice President
ACKNOWLEDGED AND AGREED:
SVI SOLUTIONS, INC.,
a Delaware corporation
By: /s/ Xxxxx X'Xxxxx
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Xxxxx X'Xxxxx
Chief Financial Officer
