AMENDMENT TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • February 14th, 2002 • K Tel International Inc • Phonograph records & prerecorded audio tapes & disks
Contract Type FiledFebruary 14th, 2002 Company IndustryThis Amendment (“Amendment”) to the November 19, 1997 Loan and Security Agreement (the “Agreement”) among K-Tel International (USA), Inc., Dominion Entertainment, Inc., K-Tel Consumer Products, Inc., K-Tel TV, Inc., K-Tel Video, Inc. (“Borrowers”) and K-5 Leisure Products, Inc., as assignee of Foothill Capital Corporation (“Lender”) and $10,000,000 credit facility consisting of a $4,000,000 term loan due on expiration and a $6,000,000 revolving credit facility, and the Promissory Note from the Borrowers to the Lender dated November 19, 1997 (the “Note”) is made as of February 12, 2002.
AMENDMENT TO CREDIT AGREEMENT AND NOTECredit Agreement and Note • February 14th, 2002 • K Tel International Inc • Phonograph records & prerecorded audio tapes & disks
Contract Type FiledFebruary 14th, 2002 Company IndustryThis Amendment (“Amendment”) to the September 27, 1999 Credit Agreement between K-TEL INTERNATIONAL, INC., a Minnesota corporation with offices located at 5555 Pioneer Creek Drive, Maple Plain, Minnesota 55359 (the “Borrower”) and K-5 LEISURE PRODUCTS, INC., a Nevada corporation with offices located at 220 Saulteaux Crescent, Winnipeg, Canada (the “Lender”) and the $8,000,000 Promissory Note from the Borrower to the Lender dated September 27, 1999 (the “Note”) is made as of February 12, 2002.