Exhibit 10.10
June 27, 1995
Xx. Xxxxxxxxx Xxxxxxxx
President
First Commercial Credit Corp.
Capital Center - 5th Floor
00 Xxxx Xxxxxx
Xxxxxx, Xxx Xxxx 00000
Dear Xx. Xxxxxxxx:
As you are aware, our ongoing discussions to renegotiate the terms
of the Claim Participation Agreement dated December 14, 1994
between First Commercial Credit Corp.("FCCC") and Mechanical
Technology Incorporated, have not concluded and the extended due
date of June 30, 1995 is approaching when the entire amount is due
and payable in full.
In order to allow our negotiations to conclude in a mutually,
successful manner, we hereby request a ninety day extension of the
due date until September 30, 1995.
Please acknowledge FCCC's agreement to this extension by signing
the duplicate copy of this letter enclosed herewith where indicated
below and returning the executed copy to me.
Sincerely,
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxxx
Chief Financial Officer
Agreed and accepted, this 28th day of June, 1995.
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First Commercial Credit Corp.
by: /s/ Xxxxxxxxx Xxxxxxxx
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