Machinery and Equipment Loan Fund Moratorium Agreement between Tasty Baking Company and MELF

Contract Categories: Business Finance › Modification Agreements
Summary

This letter agreement, dated January 13, 2011, is between Tasty Baking Company and the Machinery and Equipment Loan Fund (MELF). MELF has approved a temporary suspension of principal and interest payments on two outstanding loans to Tasty Baking Company. The moratorium covers payments due from November 1, 2010, to June 30, 2011, for one loan, and from October 1, 2010, to June 30, 2011, for the other. Interest will continue to accrue and be added to the loan principal. Regular payments will resume on July 1, 2011, over the remaining loan term.

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EX-10.UU 14 a6676688ex_10uu.htm EXHIBIT 10(UU) a6676688ex_10uu.htm
Exhibit 10(uu)

 
 

January 13, 2011

Paul D. Ridder
Senior Vice President and CFO
Tasty Baking Company
Three Crescent Drive, Suite 200
Navy Yard Corporate Center
Philadelphia, Pennsylvania 19112

Re:           Machinery and Equipment Loan Fund
#26-9-856 arid #27-9-880

Dear Mr. Ridder:

The Machinery and Equipment Loan Fund (MELF) has approved your request to grant a moratorium on principal and interest payments due on both of your outstanding MELF loans.  For MELF #26-9-856 (loan number 11100668), this moratorium will include the period November 1, 2010 until June 30,2011.  For MELF #27-9-880 (loan number 11100680), this moratorium will include the period October 1,2010 until June 30,2011.  Interest will accrue during this period, be capitalized and added to principal.  Payments including principal and interest will resume July 1, 2011 in an amount sufficient to amortize the principal balance over the remaining term of the loans.
 
If you have any questions, please contact Frank Tokarz at ###-###-#### or ***@***.
 
Sincerely,



Scott D. Dunkelberger
Acting Deputy Secretary


cc:           Kristina Kurjiaka
                Ahmed Mohamed