EXHIBIT 10.5.11
December 26, 2002
MOVIE STAR, INC.
0000 Xxxxxxxx
Xxx Xxxx, XX 00000
It is mutually agreed that the Financing Agreement entered into between us
dated April 24, 1996, as amended or supplemented (the "Financing Agreement") is
amended effective November 7, 2002 as follows:
The last sentence of Section 3.1 is deleted and the following is
substituted in its place and stead:
"Notwithstanding anything to the contrary contained in this Section 3.1, in
the event that the Prime Rate is and remains at 4.25% per annum or lower, the
interest charged on the non-overadvance portion of the average daily balances in
the Loan Account shall be four and one quarter percent (4.25%) per annum."
Except as hereinabove specifically set forth the Financing Agreement, shall
continue unmodified.
XXXXXXXXX & XXXXXXXXX, INC.
BY: /s/ Xxxxx Xxxxxx
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XXXXX XXXXXX
Senior Executive Vice President
THE FOREGOING IS ACKNOWLEDGED
AND AGREED TO:
MOVIE STAR, INC.
By: /s/ Xxxxxx Xxxxx
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XXXXXX XXXXX
Chief Financial Officer
