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EXHIBIT 10.38
Seafirst Bank
A BankAmerica
Company
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Fax 206/▇▇▇-▇▇▇▇
206/358-0101
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VICE PRESIDENT
Seafirst Agency
Services
December 23, 1998
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Spacelabs Medical, Inc. Fax: ▇▇▇-▇▇▇-▇▇▇▇
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RE: Spacelabs Medical, Inc., a California corporation ("Company")
Amended and Restated Loan Agreement dated July 16, 1997 ("Loan Agreement")
Dear ▇▇▇▇▇:
Bank of America National Trust and Savings Association dba Seafirst Bank, as
Agent for and with consent of the Lenders, agrees to the modification of Section
5.11 of the Loan Agreement, whereby the Funded Debt to EBITDA Ratio will not
exceed 3.8:1 for the fiscal quarter ending December 31, 1998, only. The Funded
Debt to EBITDA Ratio maximum of 3.5:1 will resume with the Company's fiscal
quarter ending March 31, 1999 and every quarter thereafter. All other terms and
conditions to the Loan Agreement remain unchanged, unless otherwise agreed to in
writing by the Agent and the Lenders.
Please call me it I can be of further assistance.
Sincerely,
Seafirst Bank, as Agent
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V.P./Senior Agency Officer
