Exhibit 99(b)(2)
GUARANTY BANK
AND TRUST COMPANY
--------------------------------------------------------------------------------
January 26, 2001
Xx. Xxxxxxx X. Xxxxxxx
0000 00xx Xxx Xxxxx
Xx. Xxxxxxxxxx, XX 00000
Dear Mr. Xxxxxx:
This letter serves to clarify and amend certain terms and conditions set
forth in our firm commitment letter, dated January 19, 2001 (the "Firm
commitment Letter"), pursuant to which Guaranty Bank and Trust Company will
provide Xxxxxxxxx Enterprises, Inc. a loan of $8,500,000 (the "Loan"), pursuant
to the terms and conditionsof the Firm Commitment Letter and the loan documents
which were executed in connection thereto, as amended by this letter.
We will lend $8,500,000 Xxxxxxxxx Enterprises, Inc. immediately upon (1) the
consummation of the merger of Xxxxxxxxx Enterprises, Inc. with and into BEI
Acquisition Corp., a wholly owned subsidiary of Ranger Industries, Inc.
("Ranger") (the "Merger"), and (2) our receipt of $9,000,000 from Ranger, after
the consummation of the Merger, to be deposited into MMDA Account No. 00000000
and held as collateral for the loan.
The Firm Commitment Letter remains in full force and effect except as
modified hereby.
We appreciate the opportunity to work with you and wish you much continued
success. Please to no hesitate to call if you have any questions or comments.
Thank you.
Sincerely,
/s/ Xxxx X. Xxxxx
Xxxx X. Xxxxx,
Senior Vice President
Cc: Xxxxxxx Xxxxxxxx
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