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MOVIE STAR, INC.
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Gentlemen:
We hereby agree that the Financing Agreement between us dated April 24,
1996 be and the same is hereby amended by:
Amending the affirmative Financial Covenants in Paragraph 6.9 to read as
follows:
Affirmative Financial Covenants. Borrower shall until payment in full of
all Obligations to Lender and termination of this Agreement (a) cause to be
maintained at the end of each fiscal quarter (i.e., December, March, June and
September), Tangible Net Worth in an amount not less than $1,500,000; and (b)
cause to be maintained at the end of each fiscal quarter, Working Capital of
not less than $12,500,000.
The foregoing amendment shall be effective as of September 27, 1996. In all
other respects, the terms and conditions of the aforesaid agreement as the same
may heretofore been amended, shall remain unchanged.
XXXXXXXXX & XXXXXXXXX, INC.
By: /s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx, Exec. V.P.
10/24/96
THE FOREGOING IS ACKNOWLEDGED &
AGREED TO
MOVIE STAR, INC.
By: /s/ Xxxx Xxxxxxxxx
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Xxxx Xxxxxxxxx, Xx. V.P.
10/28/96
