Exhibit 10.(iii)(c) March 27, 1997 Montgomery Ward & Co., Incorporated Montgomery Ward Plaza Chicago, IL 60671 Gentlemen: General Electric Capital Corporation ("GE Capital") has been advised by Montgomery Ward & Co., Incorporated ("Montgomery Ward")...Limited Waiver and First Amendment • May 13th, 1997 • Montgomery Ward Holding Corp • Retail-department stores
Gentlemen: General Electric Capital Corporation ("GE Capital") has been advised by Montgomery Ward & Co., Incorporated ("Montgomery Ward") that Montgomery Ward plans to enter into a Limited Waiver and First Amendment (the "Waiver and Amendment") to the Note Purchase Agreements dated March 1, 1993 between Montgomery Ward and the note purchasers thereunder, as amended, and the Note Purchase Agreement dated July 11, 1995 among Montgomery Ward and the note purchasers thereunder (the "Note Agreements") with the holders ("Noteholders") of the notes (the "Notes") issued under the Note Agreements. The Waiver and Amendment provides for the waiver by the Noteholders for the periods prior to and including June 27, 1997 of compliance by Montgomery Ward with the minimum shareholder equity and priority debt tests under the Note Agreements and provides for the payment of a waiver fee to the Noteholders, an increase in interest rates on the Notes, a shortening to August 29, 1997 of the maturity of the
