CIT August 2, 2001 Mr. Jim D. Jones Vice President and Treasurer LSB Industries, Inc. 16 South Pennsylvania Oklahoma City, OK 73101 Via Fax # (405) 236-0728 Re: Covenant Violation Dear Mr. Jones:
CIT
August 2, 2001
Xx. Xxx X. Xxxxx
Vice President and Treasurer
LSB Industries, Inc.
00 Xxxxx Xxxxxxxxxxxx
Xxxxxxxx Xxxx, XX 00000
Via Fax # (000) 000-0000
Re: Covenant Violation
Dear Xx. Xxxxx:
This letter is to inform you that The CIT Group/Equipment Financing, Inc. ("CIT") hereby agrees to waive any covenant violation under that certain Loan and Security Agreement dated October 31, 1994, including any amendments and guaranties thereto, between DSN Corporation, as Borrower, and CIT, as Lender, for the period from April 1, 2002 and December 31, 2002, subject to the following:
- Continued receipt of annual and quarterly financial statements.
- Receipt of $15,000.00 waiver fee.
If you have any questions, please call me at (000) 000-0000.
Very Truly,
The CIT Group/Equipment Financing, Inc.
By: ______________________________
Xxxx Xxxxxxx, Senior Credit Analyst
