LOAN MODIFICATION AGREEMENT
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EX-10.17 3 w93059exv10w17.txt LOAN MODIFICATION AGREEMENT EXHIBIT 10.17 THE BANK LOAN MODIFICATION AGREEMENT K-Tron America, Inc. P.O. Box 888 Pitman, NJ 08071-0888 Date: December 31, 2003 Account #: 6039359-6600 Original Amount: $5,000,000.00 Present Balance: $1,834,500.00 WHEREAS, the undersigned borrower executed the note referred to above on JUNE 27, 1998 And, WHEREAS, loan documents as applicable, executed by the borrowers allows for a modification of interest rate, due date or other terms or conditions without affecting the priority of The Bank's lien. NOW, therefore, in consideration of a modification fee of $0.00, the above referenced note is modified as follows: COMMITMENT The total commitment on the line of credit is hereby increased from $4,000,000.00 to $5,000,000.00 effective December 31, 2003. All other terms and conditions of the original note, commitment letter and any security thereto attached is fully incorporated herein and fully ratified except as specifically modified by this modification agreement. THE BANK K-TRON AMERICA, INC. BY: /s/ David J. Hanrahan 2/10/04 /s/ Patricia M. Moore 2/5/04 ---------------------------- ------- ----------------------- ------ DAVID J. HANRAHAN, SR. DATE PATRICIA M. MOORE DATE EXECUTIVE VICE PRESIDENT VP/FINANCE /s/ Mary E. Vaccara 2/5/04 ------------------------ ------ MARY E. VACCARA SECRETARY DATE
