Rider "A" to the Discount Factoring Agreement
dated Nov 14, 1997
between Congress Xxxxxxx Corporation ("CTC")
and LEVCOR INTERNATIONAL, INC.
This will confirm our understanding that in the event we withdraw a credit
approval before delivery on goods for which you have specifically and
irrevocably purchased raw materials, we will be responsible for the cost of
such goods in an amount not to exceed your cost of raw material and direct
labor.
You agree to mitigate our liability by using your best efforts to resell the
goods at the maximum price possible to a new customer approved by us.
Upon such resale we will credit your account for the difference between
the final selling price of the goods and your direct cost, if any. In the
event the goods have not been resold within one hundred twenty (120) days
after the original scheduled delivery date we will credit you for your
direct cost at that time. We will have the right at any time to demand
delivery of the goods to a consignee of our choice and retain our own
agent to sell the goods on our behalf.
CONGRESS XXXXXXX CORPORATION
/s/ XXXXXXXXXXX XXXX
By: -----------------------------
Xxxxxxxxxxx Xxxx, Vice President
READ AND AGREED:
LEVCOR INTERNATIONAL, INC.
By: /s/ XXXXXX X. XXXXXXXX
----------------------------
Xxxxxx X. Xxxxxxxx, President
