Associates TransCapital Services
a division of Associates Commercial Corporation
000 X. Xxxxxxxxx Xxxxxxx, 00xx Xxxxx
Xxxxxx, Xxxxx 00000
December 5, 1996
Environmental Transportation Services, Inc.
c/o AMETECH, Inc.
Xxxx Xxxxxx Xxx 00000
Xxxxxxxx Xxxx, Xxxxxxxx 00000
Re: Transportation Accounts Financing and Security
Agreement dated as of February 6, 1996
("Transportation Agreement")
Dear Ladies and Gentlemen:
This letter is to confirm, pursuant to our previous conversations,
that Associates TransCapital Services ("Associates") agrees that
notwithstanding anything to the contrary contained in Section 8.01
of that certain Transportation Accounts Financing and Security
Agreement by and between Environmental Transportation Services, Inc.
("ETS") and Associates, for ninety (90) days from the date of this
letter, ETS shall not be deemed to be in default by reason of the
default under that certain Loan and Security Agreement dated April
27, 1993 between ETS and The CIT Group/Capital Equipment Financing,
Inc. ("CIT"), as amended ("CIT Agreement"). This letter is granted
in order to assist ETS and AMETECH, Inc. with their efforts to
resolve their current problems with CIT and for no other reason.
Except as specifically set forth herein, this letter is not intended
to and shall not limit any rights or remedies available to
Associates under the Transportation Accounts Financing and Security
Agreement.
Very truly yours,
Associates TransCapital Services
a division of Associates Commercial
Corporation
By: /s/ Xxxxx Xxxxx
________________________________
Xxxxx Xxxxx
Vice President
