The CIT Group/
Equipment Financing
000 XXX Xxxxx
P.O. Box 490
Livingston, NJ 07039-0490
THE
CIT
GROUP
Mr. Xxx Xxxxx
Vice President and Treasurer
LSB Industries
00 Xxxxx Xxxxxxxxxxxx Xxxxxx
Xxxxxxxx Xxxx, XX 00000
Dear Xx. Xxxxx:
Reference is made to that certain Loan Agreement dated October 31,
1994, as amended (the "Agreement") between DSN Corporation,
("Debtor"), and the CIT Group/Equipment Financing, Inc. ("CIT").
Debtor has advised CIT that LSB Industries, Inc., a guarantor of
Debtor's obligations to CIT were not in compliance with certain
covenants as of September 30, 1999.
Xxxxxx has requested, that notwithstanding anything to the
contrary
of the Agreement, that CIT waive the instances of non-compliance
through September 30, 2000.
All other terms, conditions and agreements under the Loan
Agreement, together with all schedules, attachments and amendments
thereto shall remain in full force and effect. Please note that
CIT's willingness to waive this particular covenant violation
should not be interpreted as CIT's agreement or willingness to
waive any further breach or violation of the Agreement.
Sincerely,
The CIT Group Equipment Financing, Inc.
By: /s/ Xxxxxxx Xxxxxx
___________________________________
Title: Vice President
________________________________
Acknowledged and Agreed to
DSN Corporation
By: /s/ Xxx X. Xxxxx
_______________________
Title: VP
____________________
