September 26, 2006
EXHIBIT 10.13
September 26, 2006
| Re: | Loan by JPMORGAN CHASE BANK, N.A. (successor by merger to Bank One, NA (Main Office Chicago)) (“Lender”) to WHITE ELECTRONIC DESIGNS CORPORATION (“Borrower”) |
Ladies and Gentlemen:
Lender has extended to Borrower credit pursuant to the Loan and Security Agreement, dated
January 7, 2000 (as amended from time to time, “Loan Agreement”) in the principal amount of
$12,000,000.00 (the “Loan”) and evidenced by the Promissory Note, dated June 30, 2000 (“Note”).
Capitalized terms used herein and not otherwise defined shall have the meanings given them in the
Loan Agreement.
Lender and Borrower agree to amend the Loan Documents as follows:
1. The definition of “Termination Date” in the Loan Agreement is hereby amended
to mean December 31, 2006.
2. The definition of “Maturity Date” in the Note is hereby amended to mean
December 31, 2006
All other terms and conditions of the Loan Agreement and the other Loan Documents shall remain
unchanged and in full force and effect. All property or rights to or interest in property granted
as security for the Loan, shall remain as security for the Loan and the obligations of Borrower in
the Loan Documents.
JPMorgan Chase Bank, N.A. Commercial Banking AZ1-1178 xx Xxx 00,
Xxxxxxx XX 00000-0000
Please acknowledge your receipt and acceptance of the foregoing terms and conditions by
signing and returning a copy of this letter. In addition, please obtain the consent and agreement
of the Guarantors by having them sign the copy of this letter to be returned by you.
| Sincerely, | ||||||
| JPMORGAN CHASE BANK, N.A., (successor by merger to BANK ONE, NA, (Main Office Chicago) |
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| By: Name: |
/s/ Xxxxx Xxxxxxxx
|
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| Title: | Senior Vice President | |||||
| Consented and agreed to this 28th day of Sept., 2006. |
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| WHITE ELECTRONIC DESIGNS CORPORATION, an Indiana corporation |
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By: Name: |
/s/ Xxxxx Xxxxxxxxxx
|
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Title:
|
President & CEO | |||
-2-
CONSENT AND AGREEMENT
The foregoing amendments are hereby consented and agreed to this 28th day of Sept., 2006.
| PANELVIEW, INCORPORATED, an Oregon corporation |
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| By: Name: |
/s/ Xxxxx Xxxxxxxxxx
|
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| Title: | President & CEO | |||||
| INTERFACE DATA SYSTEMS, INC., an Arizona corporation |
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| By: | /s/ Xxxxx Xxxxxxxxxx | |||||
| Name: | Xxxxx Xxxxxxxxxx | |||||
| Title: | President & CEO | |||||
| IDS ACQUISITION CORPORATION, an Arizona corporation |
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| By: | /s/ Xxxxx X. Xxxxxxxxxx | |||||
| Name: | Xxxxx X. Xxxxxxxxxx | |||||
| Title: | President & CEO | |||||
| GUARANTORS | ||||||
