EXHIBIT 10.16
Bank of America
Amendment to Documents
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FIRST AMENDMENT TO BUSINESS LOAN AGREEMENT
(RECEIVABLES AND INVENTORY)
This First Amendment to Business Loan Agreement (Receivables and Inventory) is
entered into as of September 24, 1997, between Bank of America Texas, N.A.
("Bank") and American Packing and Gasket Company ("Borrower).
RECITALS
A. WHEREAS, Bank and Borrower have entered into that certain Business Loan
Agreement (Receivables and Inventory) dated February 24, 1997, (the
"Agreement"); and
B. WHEREAS, Borrower and Bank desire to amend certain terms and provisions of
said Agreement as more specifically hereinafter set forth.
AGREED
NOW, THEREFORE, in consideration of the foregoing recitials and other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Bank and Borrower mutually agree to amend said Agreement as follows:
1. In Paragraph 2.2 (Availability Period) of the Agreement, the date
"December 31, 1998" is substituted for the date "March 31, 1998".
This Amendment will become effective as of the date first written above,
provided that each of the following conditions precedent have been satisfied in
a manner satisfactory to Bank:
The Bank has received from the Borrower a duly executed original of this
Amendment.
Except as provided in this Amendment, all of the terms and provisions of the
Agreement and the documents executed in connection therewith shall remain in
full force and effect. All references in such other documents to the Agreement
shall hereafter be deemed to be references to the Agreement as amended hereby.
THIS WRITTEN AMENDMENT AND THE DOCUMENTS EXECUTED IN CONNECTION HEREWITH
REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY
EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES.
IN WITNESS WHEREOF, this Amendment has been executed by the parties hereto as of
the date first written above.
BANK OF AMERICA TEXAS, N.A. AMERICAN PACKING AND GASKET COMPANY
By:____________________________ By:______________________________
Xxx Xxxx, Vice President Xxxxx Xxxxxxx, Chairman