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Exhibit 10-8
LEXINGTON PRECISION CORPORATION
LEXINGTON RUBBER GROUP, INC.
767 THIRD AVENUE
NEW YORK, NY 10017
As of August 31, 2000
Congress Financial Corporation
1133 Avenue of the Americas
New York, NY 10036
Gentlemen:
Reference is made to the Covenants Supplement to Accounts Financing
Agreement [Security Agreement] dated January 11, 1990, as amended (the "LPC
Supplement"), by and between Congress Financial Corporation ("Congress") and
Lexington Precision Corporation ("LPC") and the Covenants Supplement to Accounts
Financing Agreement [Security Agreement] dated January 11, 1990, as amended (the
"LRGI Supplement"), by and between Congress and Lexington Rubber Group, Inc.
("LRGI").
Congress, LPC, and LRGI hereby agree that subparagraph IV (f) of each
of the LPC Supplement and the LRGI Supplement is hereby amended by changing the
dollar amount of aggregate trade accounts payable that are permitted to be past
due more than sixty (60) days from $2,250,000 to $4,000,000, for the period
through February 1, 2001.
By the signatures hereto of their duty authorized officers, the parties
hereto mutually covenant, warrant, and agree as set forth herein.
Very truly yours,
LEXINGTON PRECISION CORPORATION
By: Warren Delano
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Warren Delano
President
LEXINGTON RUBBER GROUP, INC.
By: Warren Delano
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Warren Delano
President
AGREED AND ACCEPTED:
CONGRESS FINANCIAL CORPORATION
By: Herbert C. Korn
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Title: Vice President
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