NationsBanc Commercial Corporation
Asset Based Financial Services
X.X. Xxx 0000
Xxxxxxx, XX 00000-0000
NationsBank
January 16, 1997
Levcor International, Inc.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
RE: Factoring Agreement between us dated June 1, 1995, as amended
(the "Factoring Agreement")
Gentlemen:
This is to confirm our understanding that effective January 1, 1997, the
minimum commissions paid each calendar year as provided in Section 2.5
of the Factoring Agreement shall be deleted in its entirety.
Except as amended herein, all other terms and conditions of the
Factoring Agreement shall remain unchanged and in full force and
effect. Would you please indicate your agreement to the foregoing by
signing where indicated below.
NationsBanc Commercial Corporation
By: /s/ Xxxxxxx X. Xxxxxxxxxx
------------------------------
Xxxxxxx X. Xxxxxxxxxx (Title)
Read and Agreed:
Levcor International, Inc.
By: Xxxxxx X. Xxxxxxxx President
-----------------------------------
(Title)
A subsidiary of NationsBank Corporation
