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EXHIBIT 10.19
[GE Capital LETTERHEAD]
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March 11, 1998
Xxxxxx'x Furniture, Inc.
000 X. Xxxxx Xx.
Xxxx, XX 00000
Ladies and Gentlemen:
This letter is to confirm that notwithstanding any provision of the
Supplemental Securities Purchase Agreement among Xxxxxx'x Furniture, Inc. (the
"Company"), General Electric Capital Corporation ("GECC") and Japan Ominibus
Ltd. dated as of August 14, 1997 (the "Agreement"), GECC will not assert any
Event of Default (as defined in the Agreement) arising out of any breach by
the Company during its 1998 fiscal year of Section 6.2(b) of the Agreement, so
long as the ratio of the Consolidated Total Indebtedness to Consolidated Net
Worth does not exceed 110% of such amounts set forth in the Company's fiscal
year 1998 Business Plan, a draft of which is attached hereto.
Very truly yours,
GENERAL ELECTRIC CAPITAL
CORPORATION
By: /s/ Xxxx Xxxxxxx
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Title: Senior Vice President
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