July 1, 1998
JACO ELECTRONICS, INC.
000 Xxxx Xxxxxx
Xxxxxxxxx, XX 00000
NEXUS CUSTOM ELECTRONICS, INC.
Xxxxxxxx Xxxxxx
Xxxxxxx, XX 00000
Gentleman:
Reference is made to the Second Restated and Amended Loan and Security
Agreement between Jaco Electronics, Inc. and Nexus Custom Electronics, Inc. as
Debtor, and BNY Financial Corporation (f./k/a The Bank of New York Commercial
Corporation), as Lender, and each other Lender a party hereto, dated September
13, 1995, as amended and supplemented (the "Loan Agreement").
It is hereby agreed that, effective as of July 1, 1998, the first
sentence of Paragraph 5(A) of the Loan Agreement shall be amended by deleting
the word "Until" at the beginning thereof and substituting the words "Upon the
request of the Agent on behalf of the Secured Parties and until" in its place
and stead.
Except as hereinabove specifically set forth, the Loan Agreement shall
remain unmodified and in full force and effect in accordance with its terms.
If you are in agreement with the foregoing, please so indicate by
signing and returning to us the enclosed copy of this letter.
Very truly yours,
BNY FINANCIAL CORPORATION f/k/a THE
BANK OF NEW YORK COMMERCIAL CORPORATION,
as Agent and Lender
By: Xxxxx Xxxxxxxx
Title: Vice President
FLEET BANK, N.A.,
NATWEST BANK N.A., as Lender
By: Xxxxx Xxxxxxxx
Title: Vice President
AGREED:
JACO ELECTRONICS, INC.
By: Xxxxxxx X. Xxxx
Title: Vice President/Finance
NEXUS CUSTOM ELECTRONICS, INC.
By: Xxxxxxx X. Xxxx
Title: Vice President/Finance
