PNC Business Credit Letter Regarding Potential Technical Default Due to CFO Resignation – Perma-Fix Environmental Services, Inc.

Contract Categories: Business Finance › Waiver Agreements
Summary

This letter from PNC Business Credit, represented by Vice President Alex M. Council, addresses the resignation of the CFO of Perma-Fix Environmental Services, Inc. PNC acknowledges that this event may technically trigger a default under the existing loan agreement but indicates a willingness to treat it as a 'technical default' and seek a waiver. Perma-Fix is asked to keep PNC informed about their search for a new CFO. The letter provides assurance that the lender does not intend to take immediate adverse action due to the resignation.

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EX-4.5 373 v192342_ex4-5.htm Unassociated Document
Alex M. Council
Vice President
(704) 342-8409 T  ###-###-#### F
***@***


PNC Business Credit

March 24, 2006



Dr. Louis F. Centofanti
Perma-Fix Environmental Services, Inc.
1940 NW 67th Place, Suite A
Gainesville, FL  32653

Dear Lou,

You have informed me of the resignation of Dick Kelecy as CFO of Perma-Fix and have expressed your concern as to whether this may trigger an event of default under the loan agreement.  If in fact it does, I would consider that more of a "technical default" and I would process the necessary approval to have it waived.  Please keep me informed on the results of your search for a replacement CFO.

I will be out of the office the entire week of March 27th and therefore will contact you the week of April 3rd when I return.

Should you have any questions, do not hesitate to call.

Sincerely,

/s/ Alex M. Council IV

Alex M. Council
Vice President


 
A member of The PNC Financial Services Group
201 South Tryon Street  Suite 900  Charlotte  North Carolina  28202