EXHIBIT NO. 10.1
The CIT Group/
Business Credit
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
000-000-0000
THE
CIT
GROUP
March 29, 1999
UNITED RETAIL GROUP, INC.
UNITED RETAIL INCORPORATED
000 Xxxx Xxxxxxx Xxxxxx
Xxxxxxxx Xxxx, XX 00000
Gentlemen:
We refer to the Financing Agreement by and among United Retail Group, Inc.
("URGI") United Retail Incorporated ("URI" and together with URGI the
"Companies"), The CIT Group/Business Credit, Inc., as Agent and Lender,
FirsTrust Bank, as Lender and other parties hereafter becoming the Lenders
thereunder, dated August 15, 1997, as amended (herein the "Agreement").
Capitalized terms used herein and defined in the Agreement shall have the
meanings specified therein unless otherwise specifically defined herein.
Effective immediately pursuant to mutual understanding, Section 1 of the
Agreement shall be and hereby is, amended by amending the definition of
"Anniversary Date" as set forth therein in its entirety to read as follows:
"Anniversary Date" shall mean August 15, 2001 and the same date in each year
thereafter."
Except as hereinabove specifically provided no other change in or
waiver of the terms, provisions or conditions of the Agreement is intended or
implied. If the foregoing is in accordance with your understanding of our
agreement kindly so indicate by signing and returning the enclosed copy of this
letter.
Very truly yours,
THE CIT GROUP/BUSINESS
CREDIT, INC., as Agent and Lender
By: /s/ Xxxxx Xxxxxxx
------------------------------
Title: Assistant Vice President
FIRSTRUST BANK, as Lender
By: /s/ Xxxxxx X'Xxxxxx
------------------------------
Title: Executive Vice President
Read and Agreed to:
UNITED RETAIL GROUP, INC.
By: /s/ Xxx Xxxxxxxx
------------------------
Title: Vice President
UNITED RETAIL INCORPORATED
By: /s/ Xxxxxxx X. Xxxxxxx
------------------------
Title: President