Exhibit 10(t)(ii)
[EAB]
0 XXX Xxxxx
Xxxxxxxxx, XX 00000
Phone (000) 000-0000
June 7, 1999
American Medical Alert Corp.
0000 Xxxxxx Xxxx.
Xxxxxxxxx, XX 00000
RE: FIRST AMENDMENT TO LOAN AGREEMENT AND REVOLVING CREDIT NOTE
Dear Sirs:
We refer to the Loan Agreement dated as of April 27, 1998 (the "Agreement")
between American Medical Alert Corp. (the "Company") and European American Bank
(the "Bank") and the Revolving Credit Note of like date from the Company to the
Bank in the amount of $2,000,000.00 (the "Note"). Terms used in the Agreement
shall have their defined meanings when used herein.
The Company has requested that the Bank extend the Maturity Date of the Credit
Agreement and the Note and the Bank concurs with the Company's request for such
amendment and in accordance therewith, the Company and the Bank hereby agree as
follows:
1. The definition of "Maturity Date" set forth in Section 1.01 of the
Agreement is hereby amended to delete the date May 31, 2000 and to substitute,
in lieu thereof, the date "May 31, 2001."
2. The maturity date "May 31, 2000" set forth on the first line of the Note
is hereby deleted and the date "May 31, 2001" is substituted in lieu thereof.
3. The definition of "Facility Fee" set forth in Section 2.12 of the
Agreement is hereby amended to add the following sentence at the end thereof:
"The Borrower further agrees to pay to the Bank a Facility Fee in the amount of
$5,000.00 on May 31. 2000."
This First Amendment shall be limited precisely as drafted and shall not be
deemed to be a consent to any modification or amendment of any other term or
condition of the Agreement or of any term or condition of the instruments or
agreements referred to therein.
The Company confirms and reaffirms as of the date hereof each representation
and warranty made by the Company in the Agreement.
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This First Amendment shall be governed by the laws of the State of New York
and may be executed by the parties hereto in any number of separate counterparts
and all of said counterparts taken together shall be deemed to constitute one
and the same instrument.
If this First Amendment accurately reflects your understanding of our
agreement, please so indicate by signing a copy of the letter and returning it
to the Bank by June 21, 1999.
EUROPEAN AMERICAN BANK
By: /s/ Xxxxxxx Xxxxxxxxxx
----------------------------
Xxxxxxx Xxxxxxxxxx
Vice President
Agreed:
AMERICAN MEDICAL ALERT CORP.
By: /s/ Xxxxx X. Xxxxxx
-----------------------------
Name: Xxxxx X. Xxxxxx
Title: CFO
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