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EXHIBIT 10(A)
[THE CIT GROUP LETTERHEAD] September 24, 1998
Xxxxx-Xxxxxxx, Inc.
0000 Xxxxxx Xxxxxxx
Xxxxxx, Xxxxxxx 00000
Gentlemen:
We refer to the Financing Agreement between us dated August 7, 1997 as amended
(the "Financing Agreement"). Capitalized terms used herein and defined in the
Financing Agreement shall have the same meanings as specified therein unless
otherwise specifically defined herein.
You have requested that we (i) increase the Line of Credit to $20,000,000 and
(ii) extend the term of the Financing Agreement to August 7, 2000, and we have
agreed to such amendments subject to, and in accordance with, the terms,
provisions and conditions hereof.
Effective immediately, pursuant to mutual agreement, the Financing Agreement
shall be, and hereby is, amended as follows:
(1) the definitions of "Early Termination Date" and "Early Termination Fee" (as
set forth in Section 1 of the Financing Agreement) shall be, and each
hereby is amended by amending the references therein to "second Anniversary
Date" to read "third Anniversary Date";
(2) the definition of "Line of Credit" (as set forth in Section 1 of the
Financing Agreement) shall be, and hereby is amended by increasing the
"$15,000,000" amount as set forth therein to "$20,000,000"; and
(3) Section 11 of the Financing Agreement shall be, and hereby is amended by
amending the references to "second Anniversary Date" in the first and
fourth sentences thereof to read "third Anniversary Date".
In consideration of (i) our execution of this Amendment Letter and (ii) the
preparation hereof by our-in-house legal department you agree to pay us a Loan
Facility and Documentation Fee of $37,500. Such fee shall be due and payable in
full on the date hereof and may, at our option, be charged to your Revolving
Loan account on the due date thereof.
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Except to the extent set forth herein, no other waiver of, or change in any of
the terms, provisions or conditions of the Financing 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.
By: /s/
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Title: Vice President
Read and Agreed to:
XXXXX-XXXXXXX, INC.
By: /s/
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Title: Vice President
