EXHIBIT 10.8
AMENDMENT NO. 1 TO SUPPLEMENTAL GUARANTY AGREEMENT
This Amendment No. 1 to Supplemental Guaranty Agreement ("Amendment"),
dated as of March 28, 1996 is by and between XxXxxxxxx Xxxxxxx Corporation
("Guarantor"), a Maryland corporation, and XxXxxxxxx Xxxxxxx Finance Corporation
("MDFC"), a Delaware corporation.
W I T N E S S E T H:
WHEREAS, the Guarantor and MDFC entered into a Supplemental Guaranty
Agreement (the "Guaranty"), dated as of December 30, 1993; and
WHEREAS, Section 5 of the Guaranty provides that the Guaranty will
terminate on March 31, 1996 unless, among other things, the parties agree that
MDFC's exposure on its Continental portfolio justifies a continuation of the
Guaranty; and
WHEREAS, the parties agree that MDFC's exposure on its Continental
portfolio justifies a continuation of the Guaranty and the parties deem it to be
in their mutual best interest to extend the termination date of the Guaranty;
NOW, THEREFORE, in consideration of the premises and for valuable
consideration, the sufficiency and receipt of which are hereby acknowledged, the
parties hereto hereby agree as follows:
1. The sixth line of Section 5 of the Guaranty is hereby amended to
read in full as follows:
"on June 30, 1996 unless (a) an Event of Default which could".
2. As modified above, the Guaranty shall remain in full force and
effect in accordance with its terms.
IN WITNESS WHEREOF, the parties have caused their duly authorized
officers to execute this Amendment.
XXXXXXXXX XXXXXXX XXXXXXXXX XXXXXXX
FINANCE CORPORATION CORPORATION
By: /s/ XXXXXX X. XXXXXXXXX By: /s/ XXXXX X. XXXXXX
Its: President Its: Senior Vice President and
Chief Financial Officer
