June 29, 2005
EXHIBIT 10.15
June 29, 2005
Guru Denim Inc.
0000 Xxx Xxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
0000 Xxx Xxxxx Xxxxxx
Xxx Xxxxxxx, XX 00000
ATTN: | Mr. Xxxx Xxxxxxxx & Xx. Xxxxxxx Xxxxxx |
Gentlemen :
Reference is made to the Discount Factoring Agreement of 12/2/2004 , as amended. The
contract is amended as follows :
Effective 7/1/2005 to 12/31/2005
Factoring Commission
|
From .75% to .70% | |
Effective 1/1/2006 Factoring Commission |
From .70% to .65% | |
Effective 7/1/2005 Interest Rate |
From Prime plus 1% to Prime plus 1/2 % |
|
EXTENSION
|
To 12/2/2006 |
All other terms and conditions of the above Discount Factoring Agreement remain unchanged.
Please indicate your acceptance by signing in the space provided, and returning the original to me. The copy is for your file.
Very truly yours,
/s/ Xxxxxx Xxxxxxx
XXXXXX XXXXXXX
Vice President
/s/ Xxxxxx Xxxxxxx
XXXXXX XXXXXXX
Vice President
READ AND AGREED:
GURU DENIM INC.
GURU DENIM INC.
/s/ Xxxxxxx Xxxxxx
XXXXXXX XXXXXX
President
XXXXXXX XXXXXX
President