Exhibit 10.1
[Crestar Bank Letterhead]
Crestar Bank
X.X. Xxx 00000
Xxxxxxxx, XX 00000-0000
(804) 782-5000
May 20, 1999
Xx. Xxxxxx X. Xxxxxx, Xx.
Chief Financial Officer
Eskimo Pie Corporation
000 Xxxxxxxxxx Xxxx Xxxxx
Xxxxxxxx, XX 00000
Dear Xxx:
I am writing in reference to the Letter Agreement dated March 20, 1998, and the
$10,000,000 Commercial Note of the same date (the Letter Agreement and
Commercial Note collectively referred to as the "Loan Documents") between Eskimo
Pie Corporation (the "Company") and Crestar Bank (the "Bank").
The Bank hereby agrees to modify and amend the $10,000,000 Line of Credit and
supporting Loan Documents as follows:
Paragraph 3 of the Letter Agreement dated March 20, 1998, is hereby amended such
that the Interest rate will be equal to the Bank's overnight Money Market Rate
plus 1.00%;
Paragraph 6 of the Letter Agreement dated March 20, 1998, is hereby amended to
read that the expiration date is April 30, 2001.
All other terms and conditions set forth in the Loan Documents shall remain the
same. If the modifications and amendments specified above are satisfactory,
please signify your acceptance by signing and returning the enclosed copy of
this letter no later than May 28, 1999.
Sincerely,
CRESTAR BANK
By: /s/ T. Xxxxxxx Xxxxxxx
T. Xxxxxxx Xxxxxxx
Vice President
Accepted and agreed to this 21st day of May , 1999.
/s/ Xxxxxx X. Xxxxxx, Xx
By: Xxxxxx X. Xxxxxx, Xx.
Title: Chief Financial Officer
