EXHIBIT 10.36.1
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AMENDMENT TO THREE PARTY SPECIAL
DEPOSIT ACCOUNT AGREEMENT
SPECIAL INSTRUCTIONS
This Amendment amends and modifies the Three Party Special Deposit Account
Agreement ("Agreement") entered into effective May_____, 1997, among Union Bank
of California, N.A., The Hongkong and Shanghai Banking Corp., Ltd. and Tarrant
Apparel Group dba Fashion Resource. In the event of an inconsistency between the
terms of this Amendment and the Agreement, the terms of this Amendment will
prevail, but only to the extent necessary to avoid the inconsistency.
The parties agree as follows:
1. Except as otherwise instructed by Secured Party, Bank is to transfer
collected funds in the Special Deposit Account on a per request basis
Via Fedwire to:
Marine Midland Bank - New York
ABA # 000000000
TO CREDIT: Hongkong and Shanghai Banking Corp. New York
Account # 0000000
TO FURTHER CREDIT:
BENEFICIARY: TARRANT CO., LTD. ACCOUNT # 000-000-000-0000
Hong Kong
Except as otherwise instructed by Secured Party, Bank is to transfer
collected funds. Secured Party and Borrower represent and warrant that
the above account number is correct and recognize that a beneficiary
bank or intermediate bank involved in a wire transfer may pay a wire
solely on the basis of the account number even if the beneficiary's
name and account number do not agree. (See Uniform Commercial Code
section 4A 11-207). Borrower shall pay all fees associated with
Fedwires to and from the Special Deposit Account and Borrower shall be
responsible for all account maintenance fees associated with the
Special Deposit Account. Attached as Exhibit 1 is a sample facsimile
wire transfer request from Secured Party.
2. Except as otherwise instructed by Secured Party, Bank is to transfer
collected funds in the Special Deposit Account on a per request basis
via telephone and confirmed by facsimile from Secured Party to:
Union Bank Account # 2100690988
Attached as Exhibit 2 is a sample facsimile transfer request from
Secured Party.
1
The foregoing is acknowledged.
THE HONGKONG AND SHANGHAI BANKING CORP., LTD.
By: /s/ Xxxxx Xxxxxx
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Title: Corporate Relationship Manager
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TARRANT APPAREL GROUP DBA FASHION TARRANT APPAREL GROUP DBA FASHION
RESOURCE RESOURCE
By: /s/ Xxxx X. Xxxxxxx By: /s/ Xxxxxxx X. Xxxxx
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Title: Vice President-Finance & CFO Title: Chief Operating Officer
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UNION BANK OF CALIFORNIA
By: /s/ Xxxxx Xxxxx Xxxxxx
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Title: Vice President
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2
To: Xx. Xxxx Xxxxxxxx (cc Xxxx Xxxxxxx, Xxxx Xxx, Union Bank)
Tarrant Apparel Group
Los Angeles, CA
Fax No: (000) 000-0000 / HK 2343-2801 / Union
From: J K D Xxxxxx
Corporate Relationship Manager
Textiles & Institutional Banking, Hong Kong Office
Fax No: 000-0000 0000 Telephone /Telex: 0000 0000
Title: BLOCKED ACCOUNT WITH UNION BANK
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_________________________________________________________________________
Dear Nafi:
Authorization No.
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We have no objections to your requesting Union Bank to exceptionally transfer up
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to USD ____________ from the blocked account number 2100691003 to:
Marine Midland Bank - New York
ABA # 000000000
TO CREDIT: Hongkong & Shanghai Banking Corporation Ltd.
New York, New York
Account # 0000000
TO FURTHER
CREDIT: Tarrant Co. Ltd.
Hong Kong
Account # 000-000000-0000
Yours Sincerely,
JKD Xxxxxx
Sig. No. 1940
EXHIBIT 1
To: Xx. Xxxx Xxxxxxxx (cc Xxxx Xxxxxxx, Xxxx Xxx, Union Bank)
Tarrant Apparel Group
Los Angeles, CA
Fax No: (000) 000-0000 / HK 2343-2801 / Union
From: J K D Xxxxxx
Corporate Relationship Manager
Textiles & Garments Division
Corporate & Institutional Banking, Hong Kong Office
Fax No: 000-0000 0000 Telephone /Telex: 0000 0000
Title: BLOCKED ACCOUNT WITH UNION BANK
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_________________________________________________________________________
Dear Nafi:
Authorization No.
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We have no objections to your requesting Union Bank to exceptionally transfer up
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to USD ____________ from the blocked account number 2100691003 to your normal
operating account 2100690988.
Yours Sincerely,
JKD Xxxxxx
Sig. No. 1940
EXHIBIT 2
