Wachovia Bank, National Association Letterhead]
Exhibit
10.4
[Wachovia
Bank, National Association Letterhead]
|
August
07, 2009
|
Congoleum
Corporation
0000
Xxxxxxxxxxxx Xxxx
Xxxxxxxxxxx,
XX 00000
Attention: Xxxxxx
X. Xxxxx III,
Vice
President-Finance
and
Chief Financial Officer
Re: Congoleum
Corporation
Dear
Xx. Xxxxx:
Reference
is made to the Loan and Security Agreement, dated December 10, 2001,
between Wachovia Bank, National Association, successor by merger to Congress
Financial Corporation, as lender (“Lender”) and Congoleum Corporation, as
borrower (“Borrower”), as the same has been amended, supplemented, modified,
extended, renewed, restated and/or replaced from time to time (the “Loan
Agreement”), including, without limitation, by the Ratification and Amendment
Agreement, dated as of January 7, 2004, between Lender and Borrower, as
acknowledged by Congoleum Fiscal,
Inc., Congoleum Sales, Inc.
(each individually, a “Guarantor” and collectively, the “Guarantors”), and
Amendment No. 12 to the Ratification and Amendment Agreement and Amendment No.
14 to the Loan and Security Agreement, dated as of June 9, 2009 (the “Twelfth
Ratification Amendment”, and all of the foregoing, collectively, the “Loan
Agreement”). All capitalized terms used herein, unless otherwise
defined, shall have the same meanings assigned to such terms in the Loan
Agreement.
Please
be advised that Lender hereby agrees to extend the forbearance period referenced
in paragraph 2.3 of the Twelfth
Ratification Amendment from August 14, 2009 until December 31,
2009. All other covenants, obligations, provisions, terms and
conditions set forth in the Twelfth Ratification Amendment or
in any of the other Financing Agreements shall remain in full force and
effect.
If
you have any questions or comments, please let us know.
August
07, 2009
Page
2
|
Very
truly yours,
|
|
|
WACHOVIA
BANK, NATIONAL ASSOCIATION,
|
|
|
/s/ Xxxx
Xxxxxx
|
|
|
Xxxx
Xxxxxx,
|
|
|
Managing
Director
|
|
cc:
|
Xxxxxx
X. Xxxxxx, Esq., (Via Email)
|
|
Xxxxx
X. Xxxxxxx, Esq., (Via Email)
|
|
|
Xx.
Xxxxxx Xxxxxxxx (Via Email)
|
