Exhibit 4.20
THIS AMENDMENT TO TERM LOAN AGREEMENT, made this 25th day of July 1994
by and between PULASKI FURNITURE CORPORATION (hereinafter called the
"Borrower"); and WACHOVIA BANK OF NORTH CAROLINA, N.A. (hereinafter called the
"Bank");
WITNESSETH:
WHEREAS, the Borrower and the Bank entered into a Term Loan Agreement
dated the 10th day of December, 1993 (hereinafter called the "Term Loan
Agreement"); and
WHEREAS, the Borrower and the Bank now mutually desire to affect
certain amendments to the Term Loan Agreement:
NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein and in the Term Loan Agreement contained, the parties agree as
follows:
1. Paragraph 2 of the Term Loan Agreement which paragraph begins on
page one thereof, is hereby amended and restated to read as follows:
The Borrower has requested the Bank to make a term loan to the
Borrower in the principal amount of up to $13,000,000.00 and the Bank
is willing to extend such term loans on the terms and conditions
herein after set forth.
2. Section 2.01 of the Term Loan Agreement, which paragraph begins on
page 13 thereof, is hereby amended and restated to read as follows:
SECTION 2.01. Agreement to Lend. The Bank agrees, on the terms and
conditions set forth herein, to make from time to time during the
Drawdown Period Advances (collectively, the "Loan") to the Borrower up
to but not exceeding the agreement principal amount of Thirteen
Million and No/100 Dollars ($13,000,000.00) (the "Commitment"). Each
advance shall be in an aggregate principal amount of $500,000.00 or
any larger multiple of $100,000.00 (except that any advance may be in
the aggregate amount of the Unused Commitment). No more than three (3)
Advances may be requested by the Borrower during an Interest Period
when the Loan is a Eurodollar Loan. The Advances shall be evidenced by
a note of the Borrower in the principal amount equal to Thirteen
Million and No/100 Dollars ($13,000,000.00) to the order of the Bank
(the "Note"). The Note shall be substantially in the form annexed
hereto as Exhibit "A" dated the Closing Date. The loan shall bear
interest and shall be repaid as set forth in the Note and this
Agreement.
3. Except as herein amended, the terms and provisions of the Term Loan
Agreement shall be and remain in full force in effect.
IN WITNESSETH WHEREOF, the parties hereto have caused this amendment
to Term Loan Agreement to be executed as of the year and day first above
written.
ATTEST: BORROWER:
PULASKI FURNITURE CORPORATION
By: /s/ Xxxxx Xxxxx By: /s/Xxxx X. Xxxxxxx
Xxxxx Xxxxx Xxxx X. Xxxxxxx
Treasurer President
BANK:
WACHOVIA BANK OF NORTH CAROLINA, N.A.
By: /s/Xxxx X. Xxxxxx
Xxxx X. Xxxxxx
AVP
