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Exhibit 10.5
| Ampex Corporation 1228 Douglas Avenue Redwood City, California 94063 |
May 8, 2008
To the Consenting Holders that are Party to the Plan Support Agreement, dated March 30, 2008:
Reference is made to that certain Plan Support Agreement, dated as of March 30, 2008 (as may be amended or modified, the “Plan Support Agreement”), by and among you and Ampex Corporation and its affiliated debtors and debtors in possession). Capitalized terms used herein and not defined herein shall have the meaning assigned to those terms in the Plan Support Agreement. This Letter is to confirm the following agreements:
1. Section 8.1(d) of the Plan Support Agreement is hereby amended and restated in its entirety to read as follows:
“a hearing to consider the Disclosure Statement (the “Disclosure Statement Hearing”) has not been scheduled to occur on or before June 15, 2008”.
2. Section 8.1(e) of the Plan Support Agreement is hereby amended and restated in its entirety to read as follows:
“ a hearing to consider the Confirmation Order has not been scheduled to occur on or before the date that is 35 days after the Disclosure Statement Hearing;”.
3. Except as expressly provided herein, the Plan Support Agreement shall continue in full force and effect in accordance with the provisions thereof.
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Please indicate your acceptance of this agreement by signing in the space provided below.
Dated: May 9, 2008
| AMPEX CORPORATION | ||
| By: | /s/ Joel D. Talcott | |
| Joel D. Talcott Authorized Signatory | ||
| AMPEX DATA SYSTEMS CORPORATION | ||
| By: | /s/ Joel D. Talcott | |
| Joel D. Talcott Vice President and Secretary | ||
| AMPEX DATA INTERNATIONAL CORPORATION | ||
| By: | /s/ Joel D. Talcott | |
| Joel D. Talcott Vice President and Secretary | ||
| AMPEX FINANCE CORPORATION | ||
| By: | /s/ Joel D. Talcott | |
| Joel D. Talcott Authorized Signatory | ||
| AFC HOLDINGS CORPORATION | ||
| By: | /s/ Joel D. Talcott | |
| Joel D. Talcott Vice President and Secretary | ||
Dated: May 9, 2008
| AMPEX HOLDINGS CORPORATION | ||
| By: | /s/ Joel D. Talcott | |
| Joel D. Talcott Authorized Signatory | ||
| AMPEX INTERNATIONAL SALES CORPORATION | ||
| By: | /s/ Joel D. Talcott | |
| Joel D. Talcott Vice President and Secretary | ||
Dated: May __, 2008
| HILLSIDE CAPITAL INCORPORATED | ||
| By: | /s/ Raymond F. Weldon | |
| Name: Raymond F. Weldon | ||
| Title: Managing Director | ||
| 405 Park Avenue, 12th floor | ||
| New York, New York 10022 | ||
Dated: May 9, 2008
| CONSENTING SENIOR SECURED NOTEHOLDER | ||
| Name of Institution: | ||
| Credit Suisse Asset Management LLC | ||
| By: | /s/ M. B. Metcalf | |
| Name: Martha Metcalf | ||
| Title: Managing Director | ||
| Telephone: (212) ###-###-#### | ||
| Facsimilie: (212) ###-###-#### | ||
Dated: May 9, 2008
| CONSENTING SENIOR SECURED NOTEHOLDER | ||
| B III Capital Partners, L.P. | ||
| By: | DDJ Capital III, LLC, its General Partner | |
| By: | DDJ Capital Management, LLC, Manager | |
| By: | /s/ Joshua L. McCarthy | |
| Name: | Joshua L. McCarthy | |
| Title: | Authorized Signatory | |
| By: | /s/ Jackson S. Craig | |
| Name: | Jackson S. Craig | |
| Title: | Authorized Signatory | |
| c/o DDJ Capital Management, LLC 130 Turner Street Building #3, Suite 600 Waltham, MA 02453 Telephone: (781) ###-###-#### Facsimile: (781) ###-###-#### | ||
Dated: May 9, 2008
| CONSENTING SENIOR SECURED NOTEHOLDER | ||
| B III-A Capital Partners, L.P. | ||
| By: | GP III-A, LLC, its General Partner | |
| By: | DDJ Capital Management, LLC, Manager | |
| By: | /s/ Joshua L. McCarthy | |
| Name: | Joshua L. McCarthy | |
| Title: | Authorized Signatory | |
| By: | /s/ Jackson S. Craig | |
| Name: | Jackson S. Craig | |
| Title: | Authorized Signatory | |
| c/o DDJ Capital Management, LLC 130 Turner Street Building #3, Suite 600 Waltham, MA 02453 Telephone: (781) ###-###-#### Facsimile: (781) ###-###-#### | ||
Dated: May 9, 2008
| CONSENTING SENIOR SECURED NOTEHOLDER | ||
| GMAM Investment Funds Trust II for the account of the Promark Alternative High Yield Bond Fund (Account No. 7M2E) ** | ||
| By: DDJ Capital Management, LLC, on behalf of GMAM Investment Funds Trust II, for the account of the Promark Alternative High Yield Bond Fund, in its capacity as an investment manager | ||
| By: | /s/ Joshua L. McCarthy | |
| Name: | Joshua L. McCarthy | |
| Title: | Authorized Signatory | |
| By: | /s/ Jackson S. Craig | |
| Name: | Jackson S. Craig | |
| Title: | Authorized Signatory | |
| c/o DDJ Capital Management, LLC 130 Turner Street Building #3, Suite 600 Waltham, MA 02453 Telephone: (781) ###-###-#### Facsimile: (781) ###-###-#### | ||
| ** All representations, warranties and covenants made by GMAM Investment Funds Trust II in this Plan Support Agreement are being made only with respect to those Senior Secured Notes held in the account #7M2E managed by DDJ Capital Management, LLC (the “Account”) and shall not apply to any Senior Secured Notes that may be beneficially owned by GMAM Investment Funds Trust II that are not held through such Account. | ||
Dated: May __, 2008
| CONSENTING SENIOR SECURED NOTEHOLDER | ||
| Prudential Investment Management, Inc., as investment advisor to certain of its clients as Consenting Holders | ||
| By: | /s/ Paul E. Appleby | |
| Name: | Paul E. Appleby | |
| Title: | Vice President | |
| 100 Mulberry Street Gateway Center 2, 3rd Floor Newark, New Jersey 07102 Telephone: (973) ###-###-#### Facsimilie: (973) ###-###-#### | ||
