October 17, 2000
Featherlite, Inc.
Xxx. 00 & 0
Xxxxxx, XX 00000
Attn: Xx. Xxxxxxx Xxxxx, CFO
Gentlemen:
Please refer to the Revolving Loan and Security Agreement by and
between Firstar Financial Services (n/k/a the Structured Capital Division), a
division of Firstar Bank, N.A. ("Firstar") and Featherlite, Inc., dated
September 24, 1998 ("Agreement") with amendments thereto. This letter will serve
to further amend the Agreement as follows.
Reference is made to Section 12. ADDITIONAL TERMS, subsection (f)
Minimum Fixed Charge Coverage Ratio. Firstar agrees to a waiver of the Minimum
Fixed Charge Coverage Ratio covenant for the 3rd quarter ending September 30,
2000. Said waiver shall be for this quarter only. All other terms and conditions
of the Agreement shall remain in full force and effect.
The foregoing is contingent upon approval of the participant in the
loan: LaSalle National Bank.
If the above agrees with your understanding and approval, please
indicate same by signing the original of this letter and returning it to the
undersigned. (NOTE: If you return executed documents via facsimile, you must
also return the original executed documents. You agree Firstar may rely on
facsimile signatures for all purposes and without any liability to you). If the
preconditions (if any) to this amendment are not satisfied or if this amendment
letter is not executed and returned to Firstar on or before October 31, 2000,
then the proposed amendments herein may be withdrawn by Firstar by written
notice to you. The amendments set forth herein and any accompanying documents
will be deemed effective and accepted in Milwaukee, Wisconsin, upon our receipt
of the executed documents.
Sincerely,
/s/Xxxxx X. Xxxx
Vice President
Enclosures
Featherlite, Inc.
October 17, 2000
Page 2
Agreed to this 23rd day of October, 2000.
FEATHERLITE, INC.
By: /s/Xxxxxx Xxxxxxx, President
Xxxxxx Xxxxxxx
President
