Exhibit 10.9
FIRST AMENDMENT TO
SUBORDINATED LOAN AGREEMENT -- CASH
OF XXXXXXXXX & XXXXXX, LLC
This first amendment to the Subordinated Loan Agreement -- Cash,
dated August 31, 1998 (the "Subordinated Loan Agreement"), between NB
Associates, LLC (the "Lender") and Xxxxxxxxx & Xxxxxx, LLC (the "Organization")
is made on March 30, 1999. Capitalized terms not otherwise defined herein shall
have the meanings specified in the Subordinated Loan Agreement.
WHEREAS, the Lender and the Organization desire to amend the
Subordinated Loan Agreement in order to extend the Scheduled Maturity Date
specified in the Subordinated Loan Agreement;
WHEREAS, the Organization has changed its name to Xxxxxxxxx Xxxxxx,
LLC and desires to reflect such name change in the Subordinated Loan
Agreement; and
WHEREAS, the Lender and the Organization are required to seek the
prior written approval of the Exchange to such amendment.
NOW, THEREFORE, in consideration of the agreements and obligations
set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:
SECTION 1. AMENDMENT. The Subordinated Loan Agreement is amended as
follows effective as of the date hereof.
(a) The Scheduled Maturity Date specified in "Section 1.
GENERAL" shall be extended from September 1, 1999 to September 1, 2000 and
the Promissory Note referred to in Rider B shall be amended and dated
March 30, 1999 instead of August 31, 1998.
(b) The Scheduled Maturity Date of the Subordinated Note
Agreement in each year, without further action by either the Lender or the
Organization, shall be extended an additional year, unless on or before
the day seven months preceding the Scheduled Maturity Date then in effect,
the Lender shall notify the Organization in writing, with a written copy
to the New York Stock Exchange, Inc., that such Scheduled Maturity Date
shall not be extended.
SECTION 2. CHANGE OF NAME. References to Xxxxxxxxx & Xxxxxx, LLC in
the Subordinated Loan Agreement shall be deemed to be references to Xxxxxxxxx
Xxxxxx, LLC.
SECTION 3. This amendment shall be deemed to have been made under,
and shall be governed by, the laws of the State of New York in all respects.
IN WITNESS WHEREOF, the parties hereto have caused this First
Amendment to be executed and the parties hereto have set their hands and seals
this 30th day of March, 1999.
By: Xxxxxxxxx Xxxxxx, LLC By: NB Associates, LLC
/s/ Xxxxxxxx Xxxxxxx /s/ C. Xxxx Xxxxxxxx
(Organization) (Lender)
