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AG1~.EEMENT TO FORBEEi.R ! ~ ~~w r ~ ~ ; ; ~ ~
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y , 196~ , by and beeween
AGREEMENT made the .....~s~.~ ~da of
AMERICAN MACHINE & FOUNDRY COMPANY, a New Jers~corporation with offices at Jericho Turn-
pike, Westbury, Long Island, ivew York (hereinafter called "AMF") and H#4~~~,...~Ml~.a...1IIC.~.....331GC~.~~9r
in...ia~.r!a~~L...t.o~...Foar.t.M~r.o~ ..~~~,.....Iac..,.....$.73Q..Wi~~r~t....H~,!r.d....}~t~!r.a.,~t....Iii].la~.,...~li~.~rrni~
(hereinafter ralled the "Operator").
WITNESSETH:
WAr~sns, the Operator is the lessee of automatic tenpin spc~tting machinery and related bowling equipmtnt
from AMF, pursuant to a certain Lease (hereinafter calltd the "Lease"), which (together ~ith any amendment~
thercto which have been heretofore entered into) is described on Exhibit A hereto; and
WHEREAS, simultaneously with the execution of this Agreement the Uperator and AMF are entering into an
amendment (hereinafter referred to as the "Lease Amendment") affecting the Lease, which Amendment is
described an Exhibit B hereto; and
WHEREAS, in addition to any amounts payable under the Lease the Operator is presently indebted to AMF on
the obligations described on Schedule I attached hereto (said obligatians being hereinafter referred to as the
"Subject Indebtedness") ; and
Wxfisses, the Operator acknowledges its obligation to pay the Subject Indebtedness and has requested that
AMF forbear its immediate right to the collection thereof and AMF is willing to so forbear far the period set
forth herein and otherwise in accordance with the terms and conditions of this Agreement :
No~, THEREF'ORE, in consideration of the foregoing premises and of the mutual covenants herein conta.ined
the parties do hereby agree as follows:
1. AMF's Agreement to Forbcar. AMF agrees to forbear, upon and subject to the terms and conditions of
this Agreement, in the immediate collection of both the principal of and interest on the Subject Indebteciness now
cliie, as set forth in Schedule T, anc3 in the collection, when due, of any further payments of principal and interest an
account of the Subject Tndebtedness which may fall due during the period of forbearance, and further agrees that
during the period of forbearance no interest beyond that provided for in the instruments evidencing the Subjett
Indebtedntss shalt accrue upon the principal amotant of the Subject Indebtedness or upon the interest payablt
th~reon (except that if any of the events of default provided for in pasagraph 6 hereof shall occur, interest on the
unpaid princ~pal amount shall accrue at the maximum legal rate after the maturity of any Sub}ect Indebtedness
which, according to the terms of the instruments evidencing such Subject Indehtedness, falls due during the perioct
of forbearance or has fallen due prior to the date hereof).
2. Period of Forbearance. The period of forbearance by A141F shall begin on the date of this Agreement
and continue for a term which shall be co-extensive with the term (exclusive of any renewals or extensians) of
the Lease as amended by the Lease Amendment, subject to the following conditivns:
(a} The perio~ of forbearance shall terminate forthwith, without notice, upon the occurrence of any one or
more of the events of default provided for in paragraph 6 hereof.
(b) At any time on or after the third anniversary of the date of this Agreement, AMF inay in writing request
the Operator to agree to pay the 5ubject Indebtedness over a period of time which shall be no less and in install-
ments which shall be no greater nor at more frequent intervals than the period of time and installments provided
for by the insirument or instruments which, at the date of this Agreement~ evidence the Subject Indebtedness
(calculate~d from the datt of the relevant instrument bearing the earliest date ta the rr~aturity date of the last
maturing relevant instrument). When such agreement, notes and other instruments and documents as AMF and
Operator shall mutualty agree upon in response to AMF's said request shall have Ueen executed and delivered~
the period of forbeara.nce shall thereupon terminate. But if an agreement, note§ and other instruments and docu-
ments satisfactory to AMF shall not have been duly e~ecuted and delivered within six[y (60) days after the
~ date af AMF's s~id request, then AMF inay at its option at any time thereafter, by written notice to Operator~
forthwith terminate the period of furbearance.
(c) At any time prior to the date of any written request made by AMF under the provisions of paragraph
~(b), Operator may prtpare and present a proposed plan far the payrnent of the Subject Indebtedness. If the
plan or a mutually agreeable modification thereof is accepted by AMF in writing, then, upon the due execution
and delivtry of such agreements, notes and/or other instruments and documents (all in form and substance
satisfactory to AMF) as AMF inay request to effectuate such plan or mc~dification the period of forbearance shall
thereupon terminate. But if an agreement, notes and oiher instruments and documents satisfactory to AMF shall
not be duly executed and delivered because of the failure of the Operator to present a plan which is acceptable to
AMF (or because of the failure af the Operator to work out a madification of such a plan which is acceptabie to
A1~~IF) then this Agreement and all af its tern~s, covenants and provisians shall thereafter continue in full force
and effect.
3. E~ect of Termination of Period of FosbParance. Upon the expiration or termination of the period of
forbearance for any reason whatsoever,
(a) The Lease as amended by the Lease Amendment shall continue in full farce and effect unless and until
terminated or cancelled in accordance with its terms.
Form P•S75•3~65 eeo~c
Printed iu U.S.A. Pa#e 1 of B
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