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EXHIBIT 10.17
FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT
THIS FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT ("Amendment") is
executed as of this 22nd day of January, 1997, by and between RADIO SYSTEMS
CORPORATION, a Tennessee corporation with principal offices in Knoxville,
Tennessee ("Borrower") and FIRST AMERICAN NATIONAL BANK, a national banking
association with principal offices in Nashville, Tennessee ("Lender");
W I T N E S S E T H
WHEREAS, Borrower and Lender entered into that certain Loan and
Security Agreement dated April 3, 1995, as amended by that certain First
Amendment to Loan and Security Agreement dated October 25, 1995, that certain
Second Amendment to Loan and Security Agreement dated May 17, 1996 (the "Second
Amendment"), and that certain Third Amendment to Loan and Security Agreement
dated December 13, 1996 (as so amended, the "Agreement") pursuant to which
Lender has made available to Borrower a line of credit currently in the maximum
principal amount of $4,000,000, as described therein; and
WHEREAS, Borrower and Lender desire to further amend the Agreement in
certain respects;
NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
1. Unused Portion Commitment Fee. Effective January 1, 1997, the unused
portion commitment fee set forth in paragraph 6 of the Second Amendment is
hereby deleted.
2. Representations and Warranties. Borrower represents and warrants
that the representations and warranties set forth in Article IV of the Agreement
are true and correct on and as of the date of this Amendment, and that no
default or Event of Default exists under the Agreement or any other documents
executed in connection therewith.
3. Miscellaneous. Except as amended hereby, the Agreement shall remain
in full force and effect. This Amendment does not constitute a waiver of any
default or Event of Default under the Agreement, whether or not Lender is aware
of any such default or Event of Default.
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first above written.
LENDER:
FIRST AMERICAN NATIONAL BANK
By: /s/ Xxxx X. Xxxxxxx
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Title: Assistant Vice-President
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BORROWER:
RADIO SYSTEMS CORPORATION
By: /s/ Xxxxx X. Xxxxxx
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Title: Chief Financial Officer
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