First Amendment to that Credit Agreement
Dated as of April 2, ▇▇▇▇ ▇▇▇▇▇▇▇
▇▇▇▇ ▇▇▇▇▇▇ and Main Incorporated
and
Imperial Bank
This First Amendment ("Amendment ") dated as of August 2, 1999 is made and
entered between Main Street and Main Incorporated ("Borrower") and Imperial Bank
("Bank"). This Amendment amends that Credit Agreement (the "Agreement") dated as
of April 2, 1999, by and between Borrower and Bank, All capitalized terms
herein, unless otherwise defined herein, shall have the meaning set forth in the
Agreement.
Now therefore, the parties hereby agree as follows,
1. Amendments.
A. Section 1.01 (a) of the Agreement is hereby stricken in its entirety
and replaced as follows.
REVOLVING LINE OF CREDIT. Subject to the terms and conditions of this
Agreement, provided that in no event of default then has occurred and
is continuing, Bank shall, upon Borrower's request make advances
("Revolving Loans") to Borrower, for general corporate purposes, in an
amount not to exceed $5,000,000 (the "Revolving Line of Credit") until
July 15, 2000 (the "Revolving Line of Credit Maturity Date")_
Revolving Loans may be repaid and reborrowed, provided that all
outstanding principal and accrued interest on the Revolving Loans
shall be payable in full on the Revolving Credit Maturity Date.
B. Section 4.08 of the Agreement is hereby stricken in its entirety and
replaced as follows:
ACCESS TO CAPITAL. Maintain at all times an agreement with a third
party insuring that the Company has access to long term capital in
excess of eight million dollars ($8,000,000).
3. Except as provided above, the Agreement remains unchanged and the parties
hereby confirm that the Agreement as herein amended remains in full force and
effect.
Imperial Bank Main Street & Main Incorporated
By: /s/ ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
------------------------------- -------------------------------------
▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Vice President Title: Vice President Finance