EXHIBIT 10.82
First Union 0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
Tel 000 000-0000
xxxx://xxx.xxxxxxxxxxxxxxxxx.xxx
August 9, 2000
Xx. Xxxxxx X. Xxxxxxxxx
I.C. Xxxxxx & Company, LP
0000 Xxxx Xxxxxx
Xxxxxxxxx, XX 00000-0000
Dear Gene:
In reference to the Covenant Supplement to the Accounts Financing
Agreement (Security Agreement) dated 6/16/92, as amended, you have advised us
that as of 6/30/00 you will not be in compliance with the Net Worth covenant
referenced in Sections 1.17 and 4.13, as amended in the Eighteenth Amendment to
Financing Agreements dated as of 5/30/00.
Congress Financial Corporation hereby waives the Net Worth covenant for
the period from April 1, 2000 through August 31, 2000.
In consideration of the above waiver, I.C. Xxxxxx & Company, LP agrees
to pay Congress a fee of $15,000, which shall be charged to your loan account.
Very truly yours,
CONGRESS FINANCIAL CORPORATION
/s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx
Vice President
AGREED:
I.C. XXXXXX & COMPANY, LP
/s/ Xxxxxx X. Xxxxxxxxx
----------------------------------
By:
Title: Vice President
