Waiver Agreement between Congress Financial Corporation and I.C. Isaacs & Company, LP (August 9, 2000)

Summary

Congress Financial Corporation agrees to temporarily waive the Net Worth covenant in its Accounts Financing Agreement with I.C. Isaacs & Company, LP for the period from April 1, 2000 through August 31, 2000. In return, I.C. Isaacs & Company, LP will pay a $15,000 fee, which will be charged to its loan account. This waiver allows I.C. Isaacs & Company, LP to remain in good standing under the agreement despite not meeting the Net Worth requirement during the specified period.

EX-10.82 6 a2030328zex-10_82.txt EXHIBIT 10.82 EXHIBIT 10.82 First Union 1133 Avenue of the Americas New York, NY 10036 Tel ###-###-#### http://www.congressfinancial.com August 9, 2000 Mr. Eugene C. Wielepski I.C. Isaacs & Company, LP 3840 Bank Street Baltimore, MD ###-###-#### Dear Gene: In reference to the Covenant Supplement to the Accounts Financing Agreement (Security Agreement) dated 6/16/92, as amended, you have advised us that as of 6/30/00 you will not be in compliance with the Net Worth covenant referenced in Sections 1.17 and 4.13, as amended in the Eighteenth Amendment to Financing Agreements dated as of 5/30/00. Congress Financial Corporation hereby waives the Net Worth covenant for the period from April 1, 2000 through August 31, 2000. In consideration of the above waiver, I.C. Isaacs & Company, LP agrees to pay Congress a fee of $15,000, which shall be charged to your loan account. Very truly yours, CONGRESS FINANCIAL CORPORATION /s/ Robert P. Strack Robert P. Strack Vice President AGREED: I.C. ISAACS & COMPANY, LP /s/ Eugene C. Wielepski - ---------------------------------- By: Title: Vice President