1
EXHIBIT 10.38
Seafirst Bank
A BankAmerica
Company
000 Xxxxx Xxxxxx,
00xx Xxxxx
Xxxxxxx XX, 00000
Fax 206/000-0000
206/358-0101
XXXX X. XXXXX
VICE PRESIDENT
Seafirst Agency
Services
December 23, 1998
Xxxxx Xxxxxxx
Spacelabs Medical, Inc. Fax: 000-000-0000
00000 XX 00xx Xxxxxx
Xxxxxxx, XX 00000-0000
RE: Spacelabs Medical, Inc., a California corporation ("Company")
Amended and Restated Loan Agreement dated July 16, 1997 ("Loan Agreement")
Dear Xxxxx:
Bank of America National Trust and Savings Association dba Seafirst Bank, as
Agent for and with consent of the Lenders, agrees to the modification of Section
5.11 of the Loan Agreement, whereby the Funded Debt to EBITDA Ratio will not
exceed 3.8:1 for the fiscal quarter ending December 31, 1998, only. The Funded
Debt to EBITDA Ratio maximum of 3.5:1 will resume with the Company's fiscal
quarter ending March 31, 1999 and every quarter thereafter. All other terms and
conditions to the Loan Agreement remain unchanged, unless otherwise agreed to in
writing by the Agent and the Lenders.
Please call me it I can be of further assistance.
Sincerely,
Seafirst Bank, as Agent
Xxxx Xxxxx
V.P./Senior Agency Officer