EX-4
from 10-Q
1 page
Exhibit (4)(xvii) April 2, 1998 Mr. Joseph J. Berns Vice President - Finance Plymouth Rubber Company, Inc. 104 Revere Street Canton, Ma 02021 Dear Joe: This Letter Will Serve to Amend the Master Security Agreements Dated as of December 29, 1995 and January 27, 1997, Respectively, by and Between General Electric Capital Corporation ("Secured Party") and Plymouth Rubber Company, Inc. ("Debtor") as Follows: 1. Section 10(a) Is Hereby Amended to Read as Follows: (A) at All Times During the Term of the Security Agreement, Debtor Shall Maintain: (I) Minimum Working Capital, Per the Attached Schedule, (II) Minimum Fixed Charge Coverage Ratio, Per the Attached Schedule. All Other Terms and Conditions Will Remain in Full Force and Effect. This Amendment Is Effective Beginning February 27, 1998. This Amendment Is Subject to the Receipt of a $33,750 Amendment Fee. Sincerely, Robert R. Blee Senior Risk Analyst Agreed and Acknowledged: Plymouth Rubber Company, Inc. By: Name: Title: Date: Schedule a 1st Qtr 98 2nd Qtr 98 3rd Qtr 98 4th Qtr 98 Working Capital 1,000,000 1,105,000 245,000 630,000 Fixed Charge Coverage 1.24x 1.0x 1.0x 1.0x 1st Qtr 99 2nd Qtr 99 3rd Qtr 99 4th Qtr 99 Working Capital 1,000,000 1,375,000 1,750,000 2,500,000 Fixed Charge Coverage 1.25x 1.50x Thereafter 1st Qtr 20 2nd Qtr 20 3rd Qtr 20 Working Capital 3,000,000 3,500,000 3,750,000 Thereafter
12/34/56
