February 14, 2003
AM Communications, Inc.
AM Broadband Services, Inc.
SRS Communications Corporation
AMC Services, Inc.
AM Nex-Link Communications, Inc.
AM Training Services, Inc. (collectively, the "Borrowers")
0000 XX Xxxxx
Xxxxxxxxxx, XX 00000
Gentlemen:
Per your recent request, Borrowers' failure to comply with the below
mentioned financial covenants is hereby waived. The financial covenants hereby
waived are as follows:
1. The Borrowers' failure to comply with Section 14(b) of the Loan and
Security Agreement for (i) the 3 month period ended September 28, 2002 and
(ii) the 9 month period ended December 28, 2002.
2. The Borrowers' failure to comply with Section 14(c) of the Loan and
Security Agreement for the 9 month period ended December 28, 2002.
3. The Borrowers' failure to comply with Section 14(d) of the Loan and
Security Agreement for the current fiscal year of the Borrowers.
Except as expressly stated forth herein, the Loan and Security Agreement and all
of the Other Agreements (as defined therein) are in full force and effect and
are hereby ratified, confirmed and continued.
Very truly yours,
LaSalle Business Credit, LLC
By: /s/ Xxxxxxx X. Xxxx, Xx.
----------------------------------
Name/Title: Xxxxxxx X. Xxxx, Xx.,
Assistant Vice President
{Additional signature page follows}
Agreed as of this 14th day of February, 2003:
AM Communications, Inc.
By: /s/ X. Xxxxxxx Xxxxxx, III
-------------------------------
Name/Title: X. Xxxxxxx Xxxxxx, III
Corporate Controller
AM Broadband Services, Inc.
By: /s/ X. Xxxxxxx Xxxxxx, III
-------------------------------
Name/Title: X. Xxxxxxx Xxxxxx, III
Corporate Controller
SRS Communications Corporation
By: /s/ X. Xxxxxxx Xxxxxx, III
-------------------------------
Name/Title: X. Xxxxxxx Xxxxxx, III
Corporate Controller
AMC Services, Inc.
By: /s/ X. Xxxxxxx Xxxxxx, III
-------------------------------
Name/Title: X. Xxxxxxx Xxxxxx, III
Corporate Controller
AM Nex-Link Communications, Inc.
By: /s/ X. Xxxxxxx Xxxxxx, III
-------------------------------
Name/Title: X. Xxxxxxx Xxxxxx, III
Corporate Controller
AM Training Services, Inc.
By: /s/ X. Xxxxxxx Xxxxxx, III
-------------------------------
Name/Title: X. Xxxxxxx Xxxxxx, III
Corporate Controller
