One Year Extension and Amendment to Revolving Credit and Term Loan Agreement between Federal Screw Works and Comerica Bank
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Summary
Comerica Bank has agreed to extend the maturity dates of Federal Screw Works' Revolving Credit Facility to October 31, 2003, and its Term Loan option to October 31, 2005. The agreement also increases the annual capital expenditures limit to $16,000,000. This extension and amendment are made at the request of Federal Screw Works and are formalized in accordance with the original loan agreement terms.
EX-10.2 2 k58408ex10-2.txt ONE YEAR EXTENSION OF REVOLVING CREDIT 1 EXHIBIT 10.2 [COMERICA BANK LETTERHEAD] October 18, 2000 Mr. W. T. ZurSchmiede, Jr. Chairman & Chief Executive Officer Federal Screw Works 20229 Nine Mile Road St. Clair Shores, MI 48080-1775 Dear Mr. ZurSchmiede, Per your request dated September 11, 2000 and pursuant to Section 2.13 of the Revolving Credit and Term Loan Agreement between Federal Screw Works and Comerica Bank, the Bank has approved the one year extension for the Revolving Credit Facility and Term Loan option. The new maturity dates for the facilities are October 31, 2003 and October 31, 2005, respectively. Additionally, Section 8.12 of the agreement has been amended to increase the per annum capital expenditures limit to $16,000,000. Please feel free to contact me if you have any questions. Best Regards, /s/ Robert M. Ramirez Robert M. Ramirez cc: Wade Plaskey
