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EXHIBIT 10.18
FIRST AMENDMENT TO LETTER OF CREDIT AGREEMENT
This FIRST AMENDMENT ("THIS AMENDMENT") is made as of the 20th day of
November, 1996 to that certain LETTER OF CREDIT AGREEMENT, dated as of the 1st
day of November, 1996 ("THE EXISTING AGREEMENT"), between LLOYDS BANK PLC (the
"Bank") and REFLECTONE, INC. (the "Applicant").
WHEREAS, the Applicant and the Bank wish to amend the Existing
Agreement in certain respects.
NOW, THEREFORE, the Applicant and the Bank hereby agree that the
Existing Agreements hereby amended by deleting the reference to "$20,000,000" as
the defined "Commitment" in clause (a) of the proviso to the 2nd paragraph on
page 1 of the Existing Agreement, and by inserting the figure "$35,000,000" in
lieu thereof. Except as so amended, the Existing Agreement shall remain in
full force and effect.
THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK.
IN WITNESS WHEREOF, the parties have signed this Amendment as of the
date set forth in the preamble of This Amendment.
REFLECTONE INC.
By: /s/ Xxxxxxx X. Xxxxxxxxx
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As Its: Vice President & CFO
LLOYDS BANK PLC,
ACTING THROUGH ITS ISSUING BRANCH
By: /s/ Windsor X. Xxxxxx
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By: /s/ X. X. Xxxxxx
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