July 5, 2001
Xxxxxxx Xxxxxxx, First Vice President
Bank One, NA
Managed Assets Department
1 Bank Xxx Xxxxx
00xx Xxxxx/XX 0-0000
Xxxxxxx, Xxxxxxxx 00000
Xxxxx Xxxxxxxx, Vice President
Xxxxx Fargo Bank Northwest, N.A.
Loan Adjustment Group
00 Xxxxx Xxxx, 0xx Xxxxx
Xxxx Xxxx Xxxx, Xxxx 00000
Ladies and Gentlemen:
Reference is made to the Third Amendment to Amended Credit Agreement
dated June 29, 2001 (the "Third Amendment"). This letter will serve to confirm
our agreement that, due to a delay in executing the Third Amendment, the payment
by the Borrower as described in Section 1 of the Third Amendment shall occur on
July 5, 2001. The Borrower and each of the Guarantors shall not be in default of
the Credit Agreement or the Third Amendment, including any default with respect
to the Aggregate Commitment limit or the Total Indebtedness/Adjusted EBITDA
Ratio, as a result of such payment extending beyond June 30, 2001, provided that
the Borrower and the Guarantors are otherwise in compliance with those
provisions after taking into account the July 5, 2001 payment.
Sincerely,
SOS STAFFING SERVICES, INC.
By:/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx
Chief Financial Officer
AGREED TO:
BANK ONE, XX XXXXX FARGO BANK NORTHWEST, N.A.
By: /s/ Xxxxxxx Xxxxxxx By: /s/ Xxxxx Xxxxxxxx
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Its:First Vice President Its: Vice President
