Exhibit 10.63
July 31, 2003
Xx. Xxxxxx X. Xxxxx
Chairman of the Board of Directors
Xxxxxxx Technology Company, Inc.
00 Xxxxxxxx Xxxxx
Xxxxxxx, XX 00000
Re: Commercial revolving and term loans and letters of credit ("Credit
Facility") from Fleet National Bank as Agent, and Wachovia Bank National
Association to Xxxxxxx Americas Corporation, Xxxxxxx Europe Consolidated Inc.
and Xxxxxxx Asia Pacific Corporation (collectively the "Borrower") and other
Credit Parties.
Dear Xx. Xxxxx,
Reference is hereby made to the above captioned Credit Facility.
Capitalized terms used herein and not otherwise defined shall have the same
meaning herein as in the Credit Agreement and the Loan Documents.
Fleet National Bank, as Administrative Agent, is please to advise you that
the Lenders will further amend the subject Credit Facility under the following
terms and conditions:
o The maturity will be extended from August 1, 2003 to August 15, 2003.
o All other terms and conditions will remain the same.
o Reaffirmation of all existing covenants and guarantees.
o The Borrower will execute and deliver such documents and do such other acts
and things as the Lenders may request in order to fully effect the purposes
of the agreement.
Unless specifically affected hereby, all terms and conditions of the Loan
Documents remain in full force and effect and enforceable in accordance with
their terms.
Notwithstanding this correspondence or any discussions we may have
regarding the Credit Facility and/or the Loan Documents, the Agent and the
Lenders reserve all rights and remedies available to them under the Loan
Documents and under applicable law. Neither this correspondence nor any such
discussions shall imply an agreement on the part of the Agent or the Lenders to
waive any of their rights and remedies, except as explicitly set forth herein,
or to forbear from taking any action authorized by the Loan
Documents or by applicable law, said rights and remedies being expressly
reserved by the Agent and the Lenders.
Pursuant to our agreement the escrow of the closing documents will be
extended to August 15, 2003 as well.
Please indicate Borrowers', Guarantors' and other Credit Parties'
acceptance of the above terms and conditions by signing the enclosed copy of
this letter and returning it to me at the captioned address by August 4, 2003.
Very truly yours,
/s/ Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx
Fleet National Bank
Administrative Agent
Xxxxxx X. Xxxxx
Chairman, President, & CEO
/s/ Xxxxxx X. Xxxxx
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Agreed and accepted this 31 of July, 2003. Name Title Signature
