Exhibit 10.33
[LETTERHEAD OF FLEET CAPITAL]
December 11, 1998
Xx. Xxxxxxxxx X. Xxxxxxxx
TDA Industries, Inc.
000 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Dear Xxxx,
Reference is made to the Loan and Security Agreement (as amended from time to
time, the "Loan Agreement") dated December 23, 1994, by and between Eagle
Supply, Inc., ("Borrower"), and Fleet Capital Corp. ("Lender") formerly known
as Barclays Business Credit, Inc. All capitalized terms used herein without
definition shall have the meanings ascribed to such terms in the Loan Agreement
unless indicated otherwise.
Borrower has requested that Lender agree to modify certain provisions of the
Loan Agreement. Lender has agreed to grant Borrower's request on the terms and
conditions set forth below.
In consideration of the mutual benefits to be derived hereby, Borrower and
Lender hereby agree as follows:
(1) Section 4.1 TERM OF AGREEMENT. Is amended and restated as follows:
Subject to Lender's right to cease making Loan's to Borrower upon or after
the occurrence of any Default or Event of Default, this Agreement shall be in
effect from the date hereof through and including October 22, 2003 (the
"Original Term"), and this Agreement shall automatically renew for one (1) year
periods thereafter (the "Renewal Terms"), unless (a) the party which elects not
to renew this Agreement gives at least one hundred and eighty (180) days
written notice thereof to the other party prior to the expiration of the
Original Term (or the then current Renewal Term, as the case may be) or (b)
this Agreement shall be sooner terminated as provided in Section 4.2 hereof.
Except as expressly set forth herein, all terms and conditions of the Loan
Agreement shall remain in full force and effect without amendment, modification
or limitation of any kind.
Sincerely,
/s/ Xxx Xxxxx Xxxxxx
------------------------
Xxx Xxxxx Xxxxxx
Vice President
Accepted and Agreed:
Eagle Supply, Inc.
By: /s/ [Illegible]
Title: [Illegible]
