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Exhibit 10(c)(vii)
LETTER AGREEMENT
November 6, 1997
Crown Crafts, Inc.
0000 XxxxxXxxx Xxxxxxx
Xxxxx 000
Xxxxxxx, XX 00000
Attn: Xx. Xxxxxx Xxxxxxxx, Treasurer
Reference is made to the Revolving Credit Agreement ("Credit Agreement") dated
as of August 25, 1995 as amended by that certain amendment dated May 1, 1996 and
that certain amendment dated June 28, 1996 between Crown Crafts, Inc. ("Crown
Crafts") and NationsBank, N.A. ("NationsBank"), formerly NationsBank, National
Association (Carolinas). Capitalized terms not otherwise defined herein shall
have the meanings ascribed to such terms in the Credit Agreement.
Whereas, the Borrower has requested that NationsBank waive compliance with
Section 7.4 Consolidated Cash Flow Ratio of the Credit Agreement for the period
ended 9/28/97.
Now, therefore, pursuant to the request of the Borrower, the Lender agrees to
waive compliance with Section 7.4 of Article VII of the Credit Agreement for the
quarter ended September 28, 1997. This waiver is subject to the payment of the
Amendment Fee as stated below.
Amendment Fee. Crown Crafts agrees to pay NationsBank an amendment fee of
$9,000, which shall be earned and paid as of such date.
Except as expressly set forth herein, this letter shall not by implication or
otherwise limit, impair, constitute a waiver of, or otherwise affect the rights
and remedies of NationsBank under the Credit Agreement or any related document
or agreement. Except as expressly set forth herein, all of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement and any related document ratified and affirmed in all respects and
shall continue in full force and effect.
Please indicate your agreement and acceptance by signing a copy of this letter
below and returning it to us.
Sincerely,
BY: /s/ XXXXX X. XXXXXXX
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Xxxxx X. Xxxxxxx
Vice President
Agreed and Accepted by: Crown Crafts, Inc.
BY: /s/XXXXXX X. XXXXXXXX
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Xxxxxx X. Xxxxxxxx
Chief Accounting Officer, Treasurer
