One-Year Extension of Revolving Credit and Term Loan Agreement between Federal Screw Works and Comerica Bank

Contract Categories: Business Finance › Modification Agreements
Summary

This letter agreement confirms that Comerica Bank has approved a one-year extension of both the Revolving Credit Facility and the Term Loan for Federal Screw Works, as requested. The new maturity dates are October 31, 2006 for the Revolving Credit Facility and October 31, 2008 for the Term Loan. The extension is made pursuant to the terms of the existing loan agreement between the parties. No other terms are changed by this extension.

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EX-10.1 3 k80606exv10w1.txt 1 YR EXTENSION OF REVOLVING CREDIT & TERM LOAN AGT EXHIBIT 10.1 [COMERICA LOGO] Comerica Bank One Detroit Center P.O. Box 75000 Detroit, MI ###-###-#### Phone: (313) 222-5431 Robert M. Ramirez Vice President U.S. Banking - Automotive Facsimile: (313) 222-3776 October 17, 2003 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 2, 2003 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, 2006 and October 31, 2008, respectively. Please feel free to contact me if you have any questions. Thank you. Regards, /s/ Robert M. Ramirez - --------------------- Robert M. Ramirez cc: Wade C. Plazkey