Document:

Exhibit 10.1

                                                                  April 18, 2007

The Board of Directors
Aspen Racing Stables, Inc.
211 Misty Morning
Calgary, Alberta 73Z 2Z8

Gentlemen:

     Reference  the Form SB-2  Registration  Statement of Aspen Racing  Stables,
Inc. As disclosed in the  "Management's  Discussion  and  Analysis" and "Certain
Relationships  and  Related  Transactions"   sections,  this  will  evidence  my
commitment  that,  the  advances  made to the  Company in the amount of $100,200
shall bear no interest and shall not be called  sooner than twelve  months after
the closing of the offering. I further commit to make additional advances to the
Company to cover deficit operating costs through such date.

                                                     /s/Tracy Sasyniuk
                                                     -----------------
                                                     Tracy SasyniukEXHIBIT 10.1

                  ASSUMPTION AGREEMENT AND SEVENTH AMENDMENT TO
                    CREDIT AGREEMENT AND OTHER LOAN DOCUMENTS
                    -----------------------------------------

                  This ASSUMPTION AGREEMENT AND SEVENTH AMENDMENT TO CREDIT
AGREEMENT AND OTHER LOAN DOCUMENTS (this "Amendment") is entered into as of this
25th day of April, 2007, by and among All American Semiconductor, Inc., a
Delaware corporation, as pre-petition debtor and as a debtor and
debtor-in-possession ("Borrower"), the other "Designated Companies" signatory
hereto, each as a pre-petition debtor and as a debtor and debtor-in-possession,
the financial institutions signatory hereto as lenders (collectively, the
"Lenders"), Harris N.A., successor by merger to Harris Trust and Savings Bank,
individually as a Lender, as L/C Issuer and as administrative agent for the
Lenders (in such capacity, the "Administrative Agent"), and U.S. Bank National
Association, individually as a Lender and as co-administrative agent for the
Lenders (in such capacity, the "Co-Administrative Agent"). Capitalized terms
used but not otherwise defined in this Amendment shall have the respective
meanings ascribed to them in the Pre-Petition Credit Agreement (as defined
below), as amended hereby (the Pre-Petition Credit Agreement, as so amended, the
"Credit Agreement").

                                    RECITALS
                                    --------

                  WHEREAS, Borrower, Administrative Agent, Co-Administrative
Agent and the Lenders have entered into that certain Credit Agreement, dated as
of May 14, 2003 (as amended, restated, supplemented or otherwise modified in
writing from time to time prior to the Petition Date, the "Pre-Petition Credit
Agreement," and together with the other "Loan Documents" (as defined in the
Pre-Petition Credit Agreement and as in effect immediately prior to the Petition
Date, the "Pre-Petition Credit Documents");

                  WHEREAS, on April 25, 2007 (the "Petition Date"), Borrower and
each other Designated Company (each a "Debtor," and collectively, the
"Debtors"(1)) filed voluntary petitions for relief under chapter 11 of title 11
of the United States Code (the "Bankruptcy Code"), in the United States
Bankruptcy Court of the Southern District of Florida (Miami Division) (the
"Bankruptcy Court"), Case No. 07-12963-LMI (Jointly Administered) (each, a
"Bankruptcy Case," and collectively, the "Bankruptcy Cases");

                  WHEREAS, numerous Events of Default, including, without
limitation, the Events of Default arising from the commencement of the
Bankruptcy Cases, have occurred and are continuing under the Pre-Petition Credit
Agreement as of the date hereof;

---------------------------------

(1)      The following are wholly-owned subsidiaries of the Borrower, organized
         under the laws of jurisdictions outside the United States and who are
         not Designated Companies, also filed voluntary petitions for relief
         under chapter 11 of the Bankruptcy Code in the Bankruptcy Court:
         AllAmMex Components, S. de R.L. de C.V.; AGD Electronics Asia Pacific
         Co., Ltd.; and AGD Electronics Limited (the "Foreign Debtors"). The
         Foreign Debtors are not parties to the Pre-Petition Credit Documents or
         this Amendment.

                                       1
<PAGE>

                  WHEREAS, in order to continue their operations as
debtors-in-possession under the Bankruptcy Code pending the sale of all or a
substantial portion of their assets and properties pursuant to section 363 and
other applicable provisions of the Bankruptcy Code, the Debtors have requested
that Administrative Agent and the Lenders continue making secured revolving
loans to Borrower pursuant to the Credit Agreement (the "DIP Financing"); and

                  WHEREAS, Administrative Agent and the Lenders are willing to
continue to provide further secured financing to Borrower only if, among other
things, the Pre-Petition Credit Documents are amended as hereinafter set forth,
and the Bankruptcy Court enters an Interim Financing Order and a Final Financing
Order, each in form and substance satisfactory to Administrative Agent and the
Required Lenders.

                  NOW THEREFORE, in consideration of the premises, and for other
good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

I.       Amendments to Pre-Petition Credit Documents. Effective as of the
Assumption Agreement Effectiveness Date (as defined in Section V hereof), the
parties hereto hereby amend the Pre-Petition Credit Documents as follows:

         A.       From and after the Assumption Agreement Effectiveness Date,
all references in the Credit Agreement and the other Loan Documents to (i) "All
American Semiconductor, Inc.," "AASI," "AAS," "Borrower" or any other reference
to such entity in any capacity shall be deemed to be references to All American
Semiconductor, Inc., both before the Petition Date, as a pre-petition debtor,
and on and after the Petition Date, as a debtor-in-possession in its Bankruptcy
Case; (ii) each Designated Company by any name and in any capacity shall be
deemed to be references to such Designated Company, both before the Petition
Date, as a pre-petition debtor, and on and after the Petition Date, as a
debtor-in-possession in its Bankruptcy Case; and (iii) the Pre-Petition Credit
Agreement and the other Pre-Petition Credit Documents shall mean and include the
Pre-Petition Credit Agreement and the other Pre-Petition Credit Documents, in
each case, as amended by this Amendment.

         B.       When used in the Credit Agreement and the other Loan
Documents, the terms "Bankruptcy Code," "Bankruptcy Court," "Debtors," "DIP
Financing," "Pre-Petition Credit Documents," "Petition Date," "Pre-Petition
Credit Agreement," and "Bankruptcy Cases" shall have the respective meanings set
forth in the Recitals of this Amendment.

         C.       When used in the Credit Agreement and the other Loan
Documents, the terms "Approved Budget," "Initial Approved Budget," "Supplemental
Approved Budget," "Pre-Petition Collateral," "DIP Collateral," "Pre-Petition
Indebtedness," "DIP Indebtedness," "DIP Credit Documents," "Permitted Budget
Variances," "Collateral Value Reduction Amount," "Approved Administration
Expenses," "Final Hearing," "Loan Payment Date," "Tested Line Item," "Carve-Out
Event," "Prior Claims" and "Carve-Out" shall have the respective meanings set
forth in the Financing Order.

                                       2
<PAGE>

         D.       Section 1.1 of the Pre-Petition Credit Agreement is hereby
amended by adding the following new paragraph to the conclusion thereof:

                  "Subject to the terms and conditions hereof, each DIP Lender,
         by its acceptance hereof, severally agrees to make DIP Revolving Loans
         to Borrower from time to time on or after the Assumption Agreement
         Effectiveness Date and prior to the Termination Date, up to the amount
         of such DIP Lender's DIP Revolving Credit Commitment, subject to any
         reductions thereof pursuant to the terms hereof. The sum of the
         aggregate principal amount of all Revolving Loans (including DIP
         Revolving Loans) and L/C Obligations at any time outstanding on or
         after the Petition Date shall not exceed the sum of: (a) the Borrowing
         Base as calculated as at the close of business on the immediately
         preceding Business Day (as reduced by any reserves taken pursuant to
         this Section 1.1) plus (b) the DIP Overadvance Amount as then in effect
         plus (c) in the Administrative Agent's sole discretion, any Permitted
         Overadvances then in effect; provided, however, that (i) the amount of
         Eligible Receivables included in any Borrowing Base shall take into
         account the Receivable-related information from the then most recently
         delivered report provided by Borrower to Administrative Agent pursuant
         to Section 8.5(b) hereof, and (ii) the Eligible Inventory component as
         at each Business Day, subject to true-up on or prior to the fifth
         Business Day of each week using actual Eligible Inventory reflected on
         the then most recently delivered weekly Borrowing Base Certificate
         pursuant to Section 8.5(a) hereof, shall be equal to (A) the aggregate
         amount of Eligible Inventory for the immediately preceding Business Day
         minus (B) the aggregate amount of sales of Eligible Inventory made by
         Borrower on the such immediately preceding Business Day (less the
         aggregate amount of gross margin associated therewith) plus (C) the
         aggregate amount of Eligible Inventory purchased during such
         immediately preceding Business Day. Each Borrowing of DIP Revolving
         Loans shall be made ratably from the DIP Lenders in proportion to their
         respective Revolver Percentages for DIP Revolving Loans. Except as
         otherwise expressly provided herein or in the Financing Order, DIP
         Revolving Loans may be repaid and the principal amount thereof
         reborrowed before the Termination Date. Notwithstanding any other
         provision of this Agreement to the contrary, the Administrative Agent
         shall have the right from time to time from and after the Assumption
         Agreement Effectiveness Date, upon two (2) Business Days' prior written
         notice, to establish reserves against the Borrowing Base in such
         amounts and with respect to such matters (including without limitation
         reserves with respect to Funds Transfer and Deposit Account Liability,
         Hedging Liability, cash management exposure, uninsured casualty to or
         other loss of any material portion of the Inventory occurring after the
         Assumption Agreement Effectiveness Date and the unused portion of the
         Carve-Out, if any, from and after the occurrence of a Carve-Out Event
         as permitted in the Financing Order) as the Administrative Agent shall
         deem necessary or appropriate in its reasonable business judgment to
         preserve and/or protect the Collateral. Any and all reserves in effect
         immediately prior to the Assumption Agreement Effectiveness Date shall
         remain in effect, in amounts determined by the Administrative Agent in
         its reasonable discretion, from and after the Petition Date. The amount
         of all such reserves established from time to time pursuant to this
         Section 1.1 shall be subtracted from the Borrowing Base when
         calculating the amount of availability with respect to DIP Revolving
         Loans hereunder.

                                       3
<PAGE>

         E.       Section 1.2 of the Pre-Petition Credit Agreement is hereby
amended by deleting the first sentence thereof in its entirety and replacing it
with the following:

                  "The Revolving Loans made to the Borrower by a Lender prior to
         the Petition Date shall be evidenced by a single promissory note of the
         Borrower issued to such Lender in the form of Exhibit B hereto. The DIP
         Revolving Loans made to the Borrower by a DIP Lender from and after the
         Petition Date shall be evidenced by a single promissory note of the
         Borrower issued to such DIP Lender in the form of Exhibit A attached to
         the Assumption Agreement."

         F.       Section 1.3(a) of the Pre-Petition Credit Agreement is hereby
amended by adding the following sentence at the end of such Section:

                  "Borrower and each other Designated Company acknowledges and
         agrees that no Letter of Credit remained undrawn and outstanding as of
         the Petition Date. Notwithstanding any provision to the contrary set
         forth in this Agreement or any other Loan Document, Borrower shall not
         have the right to request, and none of Administrative Agent, L/C Issuer
         or any Lender shall have any obligation to issue or guaranty, any
         Letter of Credit, in each case from and after the Petition Date."

         G.       Section 1.6(a) of the Pre-Petition Credit Agreement is hereby
amended by adding the following sentence at the end of such Section:

                  "Notwithstanding any provision to the contrary set forth in
         this Section 1.6(a) or any other provision of the Loan Documents, from
         and after the Petition Date, (i) all Revolving Loans made on or after
         the Petition Date shall be made as Base Rate Loans, and not Eurodollar
         Loans, (ii) no Base Rate Loan may be converted to, or continued as, a
         Eurodollar Loan, and (iii) all Loans outstanding from and after the
         Petition Date are and shall be Base Rate Loans."

         H.       Section 1.6(d) of the Pre-Petition Credit Agreement shall be
inapplicable from and after the Petition Date as if deleted in its entirety from
the Credit Agreement as of such date.

         I.       Section 1.9(b) of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "(b) Mandatory. Subject to the terms of the Financing Order:
                       ---------

                  (i) All proceeds of Collateral, including, without limitation,
         payments in respect of Receivables, shall be applied to the Obligations
         in the manner described in Section 3.1 hereof.

                  (ii) Immediately upon receipt of any Net Cash Proceeds from
         any Disposition of Collateral (other than the sale of Inventory in the
         ordinary course of business) or Event of Loss of Borrower or any other
         Designated Company, Borrower shall remit to the Administrative Agent
         for application to the Obligations in accordance with Section 3.1
         hereof 100% of such Net Cash Proceeds, and any such Loan repayment
         shall not be subject to reborrowing (and to the extent applied to
         outstanding DIP Revolving Loans, shall result in a corresponding

                                       4
<PAGE>

         permanent reduction of the DIP Lenders' respective DIP Revolving Credit
         Commitments according to their applicable Revolver Percentages for DIP
         Revolving Loans. Upon any Disposition of all or substantially all of
         the assets of the Designated Companies, the Revolving Credit
         Commitments shall be automatically and permanently reduced to zero;
         provided, however, that the Administrative Agent shall set aside a
         portion of the Net Cash Proceeds of such Disposition and shall make
         available such Net Cash Proceeds to the Borrower from time to time for
         payment of any amounts constituting part of the Carve-Out and any
         amounts constituting Approved Administration Expenses, in each case
         subject to the terms of the Financing Order.

                  (iii) [Intentionally omitted].

                  (iv) The Borrower shall, on each date the DIP Revolving Credit
         Commitments are reduced pursuant to Section 1.12 hereof, prepay the DIP
         Revolving Loans by the amount, if any, necessary to reduce the sum of
         the aggregate principal amount of DIP Revolving Loans then outstanding
         to the amount to which the DIP Revolving Credit Commitments have been
         so reduced.

                  (v) If at any time on or after the Petition Date the sum of
         the unpaid principal balance of the Revolving Loans (including DIP
         Revolving Loans) and L/C Obligations then outstanding shall be in
         excess of the sum of the Borrowing Base as then determined and computed
         in accordance with Section 1.1 hereof (and as reduced by any reserves
         taken pursuant to Section 1.1 hereof) plus the DIP Overadvance Amount
         then in effect plus, in the Administrative Agent's sole discretion, any
         Permitted Overadvances then in effect, the Borrower shall immediately
         and without notice or demand pay over the full amount of such excess
         (together with any accrued interest and fees with respect thereto) to
         the Administrative Agent for the ratable account of the DIP Lenders as
         and for a mandatory prepayment of the Obligations, with each such
         prepayment to be applied in the manner required pursuant to Section 3.1
         hereof.

                  (vi) [Intentionally omitted].

         J.       Section 2.1 of the Pre-Petition Credit Agreement is hereby
amended by adding as new subsections (e) and (f) thereof the following:

                  "(e) DIP Commitment Fee. Borrower agrees to pay to the
         Administrative Agent, for the benefit of the Administrative Agent and
         the DIP Lenders in accordance with their respective Revolver
         Percentages for DIP Revolving Loans, a fee in an aggregate amount equal
         to $250,000 (the "DIP Commitment Fee"), which fee shall be fully earned
         on, and paid in immediately available funds on, the Assumption
         Agreement Effectiveness Date.

                  (f) DIP Administration Fee. The Borrower agrees to pay to the
         Administrative Agent for its own account an administration fee of
         $50,000 (the "DIP Agency Fee"), which administration fee shall be fully
         earned on, and paid in immediately available funds on, the Assumption
         Agreement Effectiveness Date."

                                       5
<PAGE>

         K.       Section 3.1 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating subsections (b) and (c) thereof in their
entirety as follows:

                  "(b) Application of Collateral Proceeds. Notwithstanding any
         provision to the contrary in this Agreement or any other Loan
         Documents, except to the extent otherwise provided in the Financing
         Order, all Collateral proceeds or other payments received for
         application to any Obligations (whether received in the normal course,
         from mandatory prepayments, from the exercise of default-related rights
         and remedies or otherwise) shall (subject to set asides or other
         provision for payment of the Carve-Out and Approved Administration
         Expenses to the extent permitted under the Financing Order) be
         distributed as follows (as among the Administrative Agent and the
         Lenders, regardless of the allowability of any portion of such
         Obligations) unless otherwise determined by Administrative Agent and
         Required Lenders in their sole discretion: first, to the Administrative
         Agent for payment of any pre-petition and post-petition fees
         (including, without limitation, the DIP Agency Fee), expenses, costs
         (including, without limitation, the pre-petition and post-petition fees
         and expenses of Latham & Watkins LLP and Giuliani Capital Advisors),
         indemnities and other amounts as to which Administrative Agent is
         entitled to be reimbursed or indemnified by any or all of the Borrower,
         any other Designated Company and/or the Lenders pursuant to the Loan
         Documents or the Financing Order; second, to the DIP Lenders for
         payment of the DIP Commitment Fee pro rata based on their respective
         Revolver Percentages for DIP Revolving Loans; third, to the
         Administrative Agent for payment or reimbursement of all Obligations in
         respect of all pre-Petition Date Letters of Credit then due and
         payable; fourth, to the Pre-Petition Lenders for payment of interest in
         respect of the Pre-Petition Indebtedness pro rata based on their
         respective Revolver Percentages under the Pre-Petition Revolving Credit
         Commitments; fifth, to the Pre-Petition Lenders or Administrative
         Agent, as the case may be, for payment of the outstanding principal
         balance of the Pre-Petition Indebtedness and cash collateralization of
         any Obligations in respect of any pre-Petition Date Letters of Credit
         that are not then due and payable, in the case of principal payments,
         pro rata based on the respective Revolver Percentages of the
         Pre-Petition Lenders under the Pre-Petition Revolving Credit
         Commitments; sixth, to the Pre-Petition Lenders for payment of all
         fees, expenses, costs, indemnities, and all other Pre-Petition
         Indebtedness not addressed above, pro rata based on their respective
         Revolver Percentages under the Pre-Petition Revolving Credit
         Commitments; seventh, to the DIP Lenders for payment of interest in
         respect of the DIP Indebtedness pro rata based on their respective
         Revolver Percentages for DIP Revolving Loans; eighth, to the DIP
         Lenders for payment of the outstanding principal balance of the DIP
         Indebtedness pro rata based on the DIP Lenders' respective Revolver
         Percentages for DIP Revolving Loans; ninth, to the DIP Lenders for
         payment of all fees, expenses, costs, indemnities and all other DIP
         Indebtedness not addressed above, pro rata based on their respective
         Revolver Percentages for DIP Revolving Loans; and tenth, to the
         Borrower or as otherwise required by law. Notwithstanding the
         foregoing, to the extent the Bankruptcy Court fails to allow or
         otherwise permit payment of all or any portion of the DIP Agency Fee
         and the DIP Commitment Fee (collectively, the "Disallowed Fees"), then
         (x) the first proceeds distributable on account of the Pre-Petition
         Indebtedness equal to the aggregate amount of the Disallowed Fees shall
         be remitted to the Administrative Agent and/or the DIP Lenders, as
         applicable, on account of their respective Pre-Petition Indebtedness
         (in the case of Administrative Agent, the Pre-Petition Indebtedness

                                       6
<PAGE>

         owing to Harris as Pre-Petition Lender) pro rata up to the respective
         amounts of the Disallowed Fees to which they would otherwise have been
         entitled had the Bankruptcy Court permitted and allowed such Disallowed
         Fees in their entirety and (y) the balance of the proceeds
         distributable on account of the Pre-Petition Indebtedness shall be
         distributed pro rata to the Pre-Petition Lenders based on their
         respective Revolver Percentages under the Pre-Petition Revolving Credit
         Commitments determined as if the payments referenced in the immediately
         preceding clause (x) had not been made.

                  (c)      [Intentionally omitted]."

         L.       Section 4.1 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "Section 4.1      Collateral.
                                    ----------

                  Subject to the terms of the Financing Order (and except to the
         extent otherwise provided in the Financing Order), the Obligations
         shall be secured by valid, perfected and enforceable Liens on all
         right, title and interest of the Borrower and each other Designated
         Company in all real and personal property and fixtures of such Person,
         including all accounts, chattel paper, instruments, documents, cash,
         cash equivalents, general intangibles (including payment intangibles
         and software, all patents, trademarks, copyrights and similar
         intellectual property rights, and all application and registrations
         therefor, and all tax refunds), letter-of-credit rights, supporting
         obligations, deposit accounts, investment property, inventory,
         equipment, fixtures, and commercial tort claims, whether now owned or
         hereafter acquired or arising, and all proceeds thereof. The Borrower
         acknowledges and agrees that the Administrative Agent's Liens on the
         Collateral are for the benefit of Administrative Agent, L/C Issuer, the
         Lenders and their respective Affiliates, and are valid and perfected
         first priority Liens subject only to Liens permitted by Section 8.8
         hereof, in each case pursuant to one or more Collateral Documents from
         such Persons, each in form and substance satisfactory to the
         Administrative Agent. Borrower hereby confirms that the security
         interests granted hereunder and under the other Loan Documents extend
         to all Collateral, whether arising or acquired prior to, on or after
         the Petition Date and secure all Obligations, whether arising prior to,
         on or after the Petition Date, including, without limitation, the DIP
         Indebtedness.

                  Furthermore, subject to the terms of the Financing Order, to
         further secure the payment and performance of the Obligations (whether
         arising prior to, on or after the Petition Date), including all
         renewals, extensions, restructurings and refinancings of any or all of
         the Obligations, Borrower and each other Designated Company hereby
         grants to Administrative Agent, for the benefit of Administrative
         Agent, L/C Issuer and the Lenders, a continuing security interest, Lien
         and mortgage in and to all of the respective right, title and interest
         of such Designated Company, as pre-petition debtor and
         debtor-in-possession, in all of the real and personal property of such
         Designated Company (as pre-petition debtor and debtor-in-possession),
         whether arising or acquired prior to, on or after the Petition Date and
         regardless of where located, including, without limitation: (i) the

                                       7
<PAGE>

         Collateral referenced in this Section 4.1 and in Section 1 of the
         Security Agreement to which such Designated Company is a party; (ii)
         all causes of action and claims of such Designated Company's estate
         against third parties, including, without limitation, claims of such
         Designated Company as debtor-in-possession under the Bankruptcy Code
         and all proceeds of avoidance claims of such Designated Company under
         sections 544, 545, 547, 548, 551 or 553 of the Bankruptcy Code (such
         avoidance claims of all Designated Companies, collectively, "Avoidance
         Actions"); (iii) all other assets of such Designated Company, whether
         real, personal, tangible or intangible or mixed, now existing or
         hereafter acquired, created, built or otherwise coming into being
         together with all improvements thereon (including, without limitation,
         all of each such Designated Company's leasehold interests, rights of
         tenancy or other rights to occupy the premises occupied or controlled
         by such Designated Company); and (iv) all additions and accessions to,
         substitutions for, and replacements, rents, profits, products and
         proceeds of any of the foregoing, including, without limitation, the
         proceeds of any insurance policies covering any of the above-described
         property. Subject to the terms of the Financing Order (including,
         without limitation, the set asides or other provision for payment of
         amounts constituting part of the Carve-Out and Approved Administration
         Expenses), that portion of the Obligations equal to the sum of the DIP
         Indebtedness plus the Collateral Value Reduction Amount shall have the
         highest administrative priority under section 364(c)(1) of the
         Bankruptcy Code, and shall have priority over all other costs and
         expenses of administration of any kind, including those specified in,
         or ordered pursuant to, sections 105, 326, 328, 330, 331, 503(b),
         506(c), 507(a), 507(b), 546(c), 726, 1114 or any other provision of the
         Bankruptcy Code or otherwise (whether incurred in any Bankruptcy Case,
         any conversion of any Bankruptcy Case pursuant to section 1112 of the
         Bankruptcy Code, or in any other proceedings related thereto), and
         shall at all times be senior to the rights of the Borrower, each other
         Designated Company and each other Foreign Debtor, any successor trustee
         or estate representative in their respective Bankruptcy Cases or any
         subsequent case or proceeding under the Bankruptcy Code, and shall have
         the highest administrative priority under section 364(c)(1) of the
         Bankruptcy Code."

         M.       Section 4.2 of the Pre-Petition Credit Agreement is hereby
amended by adding the following new sentence to the conclusion thereof:

                  "Notwithstanding anything in this Agreement or any other Loan
         Document to the contrary, Administrative Agent shall have the right to
         transfer, on a daily basis, all collected and available balances in the
         Designated Companies' deposit accounts (other than (i) accounts
         containing solely employee-related trust funds and (ii) "petty cash"
         accounts of Designated Companies other than the Borrower; provided that
         the aggregate balances in all such petty cash accounts shall at no time
         exceed $25,000), including, without limitation, the Concentration
         Accounts, to an account in the name of Administrative Agent for
         application to the Obligations in accordance with Section 1.9(b)(ii)
         hereof or Section 3.1 hereof, as applicable."

         N.       Section 5.1 of the Pre-Petition Credit Agreement is hereby
amended by adding, or amending and restating, as applicable, the following
defined terms as follows:

                                       8
<PAGE>

         "AASI Canada" means All American Semiconductor of Canada, Inc.

         "Agreement" means that certain Credit Agreement, dated as of May 14,
         2003, by and among Borrower, Administrative Agent, Co-Administrative
         Agent and the Lenders, as amended, restated, supplemented or otherwise
         modified from time to time prior to the Petition Date, and as further
         amended by the Assumption Agreement, and as the foregoing may
         thereafter be further amended, restated, supplemented or otherwise
         modified from time to time, including, without limitation, pursuant to
         the Interim Financing Order, the Final Financing Order or any other
         order of the Bankruptcy Court to which the Administrative Agent and
         Required Lenders have consented in writing in their sole discretion.

                  "Assumption Agreement" means that certain Assumption Agreement
         and Seventh Amendment to Credit Agreement and Other Loan Documents,
         dated as of April 25, 2007, by and among the Borrower, the other
         Designated Companies, Administrative Agent, Co-Administrative Agent and
         Lenders.

                  "Assumption Agreement Effectiveness Date" shall have the
         meaning ascribed to such term in Section 5 of the Assumption Agreement.

                  "Collateral" means any and all properties, rights, interests
         and privileges from time to time subject to the Liens granted to the
         Administrative Agent, for the ratable benefit of Administrative Agent,
         the L/C Issuer and the Lenders, or any security trustee therefor,
         pursuant to the Collateral Documents, the Interim Financing Order or
         the Final Financing Order, in each case, whether such property, right,
         interest or privilege is acquired by the Borrower or any other
         Designated Company, as the case may be, on or after the Petition Date.
         The term "Collateral" shall include all Pre-Petition Collateral and all
         DIP Collateral, as those terms are defined in the Financing Order.

                  "Credit Event" means the advancing of any Revolving Loan
         (including, without limitation, any DIP Revolving Loan), the
         continuation of or conversion into a Eurodollar Loan, or the issuance
         of, or extension of the expiration date or increase in the amount of,
         any Letter of Credit, in each case whether made or done prior to, on or
         after the Petition Date.

                  "DIP Lenders" shall mean those Lenders with DIP Revolving
         Credit Commitments.

                  "DIP Overadvance Amount" means, at any time during each week
         reflected in the Approved Budget, the amount listed in the "DIP
         Overadvance Amount" line item of the Approved Budget for such week, as
         the same may be increased solely to the extent expressly provided
         herein and in the Financing Order.

                  "DIP Revolving Credit Commitments" shall mean the obligations
         of the DIP Lenders to make DIP Revolving Loans to or for the account of
         Borrower hereunder from and after the Petition Date in accordance with
         their respective Revolver Percentages for DIP Revolving Loans in an
         aggregate principal amount at any one time outstanding not to exceed

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<PAGE>

         the amount set forth opposite each DIP Lender's name on Schedule 1
         attached to the Assumption Agreement.

                  "DIP Revolving Loans" shall mean all Revolving Loans made or
         incurred on or after the Petition Date by any or all of the
         Administrative Agent and the DIP Lenders to, or for the account of, the
         Borrower.

                  "Existing Pre-Petition Defaults" shall mean all Events of
         Default existing as of the Petition Date, including, without
         limitation, all "Specified Defaults" under, and as defined in, the
         Forbearance Agreements.

                  "Final Financing Order" shall mean an order of the Bankruptcy
         Court entered in the Bankruptcy Cases after the Final Hearing (as
         defined in the Interim Financing Order) pursuant to sections 363 and
         364 of the Bankruptcy Code, inter alia, authorizing the Designated
         Companies, as debtors-in-possession, to use cash collateral and
         authorizing Borrower to incur secured indebtedness pursuant to this
         Agreement and the other Loan Documents, which order shall be in form
         and substance satisfactory to Administrative Agent and Required Lenders
         in their sole discretion.

                  "Financing Order" shall mean the Interim Financing Order until
         such time as the Final Financing Order shall have become effective,
         upon which event, "Financing Order" shall mean the Final Financing
         Order.

                  "Forbearance Agreements" mean, collectively, (i) that certain
         Forbearance Agreement, dated as of March 29, 2007, by and among
         Borrower, the other Designated Companies, Administrative Agent,
         Co-Administrative Agent and the Lenders, and (ii) that certain Second
         Forbearance Agreement, dated as of April 15, 2007, by and among
         Borrower, the other Designated Companies, Administrative Agent,
         Co-Administrative Agent and the Lenders, in each case, as may be
         amended, restated or otherwise modified from time to time.

                  "Foreign Debtor" means AllAmMex Components, S. de R.L. de
         C.V.; AGD Electronics Asia Pacific Co., Ltd.; and AGD Electronics
         Limited, or any of them.

                  "Foreign Subsidiary" means a Subsidiary of Borrower or any
         other Designated Company organized under the laws of any country (or
         any political subdivision thereof) other than the United States of
         America.

                  "Interim Financing Order" shall mean the order of the
         Bankruptcy Court entered in the Bankruptcy Cases on April __, 2007,
         pursuant to sections 363 and 364 of the Bankruptcy Code, inter alia,
         authorizing the Designated Companies, as debtors-in-possession, to use
         cash collateral and authorizing the Borrower to incur secured
         indebtedness pursuant to this Agreement and the other Loan Documents,
         and to enter into and/or assume the Assumption Agreement and the other
         DIP Credit Documents, which order shall be in form and substance
         satisfactory to Administrative Agent and Required Lenders in their sole
         discretion.

                                       10
<PAGE>

                  "Lenders" means and includes Harris N.A. and the other
         financial institutions from time to time party to this Agreement,
         including each assignee Lender pursuant to Section 12.12 hereof, in
         their capacity as Pre-Petition Lenders in respect of the Pre-Petition
         Credit Documents, the Pre-Petition Collateral and the Pre-Petition
         Indebtedness, and in their capacity as DIP Lenders in respect of the
         DIP Credit Documents, the DIP Indebtedness and the DIP Collateral.

                  "Loan Documents" means this Agreement, the Assumption
         Agreement, the Interim Financing Order, the Final Financing Order, the
         Revolving Notes, the Applications, the Collateral Documents, the
         Guaranties, each other instrument or document executed and/or delivered
         hereunder or thereunder or otherwise in connection therewith, as each
         may be amended, supplemented or otherwise modified from time to time
         (including, without limitation, by any of the DIP Credit Documents (as
         defined in the Financing Order) or any order of the Bankruptcy Court to
         which Administrative Agent and Required Lenders have consented in their
         sole discretion). Without limiting the foregoing, the term "Loan
         Documents" shall include all DIP Credit Documents.

                  "Loans" means any Revolving Loan (including, without
         limitation, any DIP Revolving Loan), whether outstanding as a Base Rate
         Loan or Eurodollar Loan, each of which is a "type" of Loan hereunder,
         and whether made before, on or after the Petition Date.

                  "Net Cash Proceeds" means, as applicable, (a) with respect to
         any Disposition by a Person, the aggregate amount of cash and cash
         equivalent proceeds received by such Person or for such Person's
         account (including, without limitation, any payments received for
         non-competition covenants, consulting or management fees in connection
         with such sale, and any portion of the amount received evidenced by a
         promissory note or other evidence of indebtedness issued by the
         purchaser), minus the sum of (i) the reasonable direct costs relating
         to such Disposition, including, without limitation, customary sales
         fees, commissions and other expenses and any allowed success fee owing
         to Raymond James & Associates, Inc. under the terms of that certain
         engagement letter with the Borrower, dated April 24, 2007 (as in effect
         on the Assumption Agreement Effectiveness Date or as otherwise amended
         with the prior written consent of Administrative Agent), (ii) income,
         capital gains, sale, use or other transactional taxes paid or payable
         by such Person at the time of such Disposition as a direct result of
         such Disposition, (iii) the amounts required to be applied to repay
         principal, interest and other fees and charges on indebtedness or other
         obligations constituting a Prior Claim and secured by a Lien on the
         asset which is the subject of such Disposition that is senior in
         priority to the Administrative Agent's Liens on such asset, and (iv)
         until actually received by, or payable to, such Person, any portion of
         the amount received held in escrow or evidenced by a promissory note or
         other evidence of indebtedness issued by a purchaser or non-compete,
         consulting or management agreement or covenant or otherwise for which
         compensation is paid over time; and (b) with respect to any Event of
         Loss of a Person, cash and cash equivalent proceeds received by such
         Person or for such Person's account (whether as a result of payments
         made under any applicable insurance policy therefor or in connection
         with condemnation proceedings or otherwise), minus the sum of (i) the
         reasonable direct costs incurred in connection with the collection of

                                       11
<PAGE>

         such proceeds, awards or other payments, (ii) income or capital gains
         taxes paid or payable by such Person at the time of receipt of such
         insurance proceeds as a direct result of such Event of Loss, and (iii)
         any amounts retained by or paid to parties having rights to such
         proceeds, awards or other payments that are superior to the rights of
         the Administrative Agent and Lenders to such proceeds, awards or other
         payments.

                  "Obligations" means all obligations of the Borrower to pay
         principal and interest on the Loans, all Reimbursement Obligations
         owing under the Applications, all fees and charges payable hereunder,
         and all other payment obligations of the Borrower or any other
         Designated Company arising under or in relation to any Loan Document
         (including, without limitation, any interest, fees and other charges on
         the Loans or otherwise under the Loan Documents that would accrue but
         for the filing of the Bankruptcy Cases or any other insolvency
         proceeding with respect to the Borrower or any other Designated
         Company, whether or not a claim for such amounts is allowed in such
         Bankruptcy Cases or any other insolvency proceeding and including
         Obligations to the Administrative Agent and Lenders pursuant to
         Sections 9.5 and 12.15 hereof), all obligations of the Borrower or any
         other Designated Company in respect of Hedging Liabilities and all
         obligations of the Borrower or any other Designated Company in respect
         of Funds Transfer and Deposit Account Liability, in each case whether
         now existing or hereafter arising, due or to become due, direct or
         indirect, absolute or contingent, liquidated or unliquidated, arising
         by operation of law or otherwise, and howsoever evidenced, held or
         acquired, whether arising or incurred before, on or after the Petition
         Date. Without limiting the generality of the foregoing, the term
         "Obligations" shall include all Pre-Petition Indebtedness and all DIP
         Indebtedness as those terms are defined in the Financing Order. The
         allowability of the Obligations constituting Pre-Petition Indebtedness
         shall be subject to the terms of the Financing Order and any other
         applicable order of the Bankruptcy Court, and all references to
         "Obligations" herein shall be deemed to exclude any portion of the
         Obligations, if any, that are disallowed by final order of the
         Bankruptcy Court, and in such case, only from and after such
         disallowance order becomes final.

                  "Permitted Overadvance" means an amount approved in the sole
         discretion of the Administrative Agent not to exceed $500,000 at any
         one time outstanding by which the outstanding principal balance of
         Revolving Loans and L/C Obligations hereof knowingly exceeds the sum of
         the Borrowing Base as then determined and computed in accordance with
         Section 1.1 hereof (as reduced by any reserves taken pursuant to
         Section 1.1 hereof) plus the DIP Overadvance Amount; provided, however,
         that (i) Permitted Overadvances shall be advanced only if, in
         Administrative Agent's judgment, such Permitted Overadvances are
         necessary or desirable to preserve or protect the Collateral, or any
         portion thereof, or to enhance the likelihood of, or maximize the
         amount of, repayment by the Borrower of the Obligations, and (ii)
         Permitted Overadvances shall not knowingly be permitted to be
         outstanding for a period exceeding three consecutive Business Days.

                  "Pre-Petition Revolving Credit Commitments" shall mean the
         Revolving Credit Commitments to make Revolving Loans, as in effect
         immediately prior to the Petition Date.

                                       12
<PAGE>

                  "Pre-Petition Lenders" shall mean those Lenders with Revolving
         Credit Commitments to make Revolving Loans immediately prior to the
         Petition Date.

                  "Revolver Percentage" means: (i) so long as there are any
         Revolving Loans (including, without limitation, DIP Revolving Loans) or
         Revolving Credit Commitments (including, without limitation, DIP
         Revolving Credit Commitments) outstanding, the percentage of the
         Revolving Credit Commitments represented by such Lender's Revolving
         Credit Commitment, which in the case of the DIP Revolving Credit
         Commitments of the DIP Lenders are as set forth in Schedule 1 attached
         to the Assumption Agreement; or (ii) at all other times after the
         indefeasible payment in full of the Loans (including all DIP Revolving
         Loans) and the termination in full of the Revolving Credit Commitments
         (including the DIP Revolving Credit Commitments), the percentage held
         by such Lender (including through participation interests in
         Reimbursement Obligations) of the aggregate principal amount of all
         Loans and L/C Obligations then outstanding.

                  "Revolving Credit" means the credit facility for making
         Revolving Loans (including, without limitation, DIP Revolving Loans)
         and issuing Letters of Credit described in Sections 1.1 and 1.3 hereof.

                  "Revolving Loan" is defined in Section 1.1 hereof whether made
         before, on or after the Petition Date (including, without limitation,
         DIP Revolving Loans), and as so defined, includes a Base Rate Loan or a
         Eurodollar Loan, each of which (as so defined) is a "type" of Revolving
         Loan hereunder.

                  "Termination Date" means the occurrence of the Loan Payment
         Date, as such term is defined in the Financing Order, or such earlier
         date on which the Revolving Credit Commitments are terminated in
         accordance with the terms of this Agreement (subject to the provisions
         of the Financing Order with respect to funding of Approved
         Administration Expenses); provided, that the Obligations outstanding as
         of the commencement of the Bankruptcy Cases shall be deemed to have
         been automatically accelerated pursuant to this Agreement (provided
         that, notwithstanding such acceleration, such Obligations shall be due
         and payable as provided in this Agreement and the Financing Order) and
         the Pre-Petition Revolving Credit Commitments outstanding as of the
         commencement of the Bankruptcy Cases shall have been automatically
         terminated pursuant to this Agreement.

         O.       The definition of "Applicable Margin" in Section 5.1 of the
Pre-Petition Credit Agreement is hereby amended by adding the following sentence
at the end of such definition:

                  "Notwithstanding the foregoing and notwithstanding any
         provision to the contrary in Section 1.4 hereof or any other provision
         of this Agreement, at any time on or after the Petition Date, the
         Applicable Margin with respect to all DIP Revolving Loans and other
         Obligations incurred or advanced on or after the Petition Date shall
         equal three percent (3%)."

                                       13
<PAGE>

         P.       The definition of "Eligible Inventory" in Section 5.1 of the
Pre-Petition Credit Agreement is hereby amended by replacing subparagraph (m)
thereof with the following:

                  "(m)     it is not "in-transit" Inventory, and

                  (n)      it is otherwise deemed to be Eligible Inventory in
         the reasonable judgment of the Administrative Agent."

         Q.       The definition of "Required Lenders" in Section 5.1 of the
Pre-Petition Credit Agreement is hereby amended by adding the following sentence
at the end of such definition:

                  "Notwithstanding the foregoing, at any time on or after the
         Petition Date, the term "Required Lenders" shall mean the DIP Lenders
         the total of whose (i) DIP Revolving Credit Commitments, plus (ii)
         outstanding Loans and interests in Letters of Credit as of the Petition
         Date, exceeds 50% of the sum of (x) the total DIP Revolving Credit
         Commitments of all DIP Lenders, plus (y) all outstanding Loans and
         interests in Letters of Credit of all Lenders as of the Petition Date."

         R.       The definition of "Revolving Credit Commitment" in Section 5.1
of the Pre-Petition Credit Agreement is hereby amended by adding the following
sentence at the end of such definition:

                  "Notwithstanding the foregoing, upon the commencement of the
         Bankruptcy Cases and at all times prior to the Assumption Agreement
         Effectiveness Date, the Revolving Credit Commitment of each Lender
         shall be deemed terminated, but from and after the Assumption Agreement
         Effectiveness Date, the Revolving Credit Commitment of each Lender
         shall mean such Lender's DIP Revolving Credit Commitment."

         S.       Section 6.4 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating the first sentence thereof in its entirety as
follows:

                  "From and after the Petition Date, the Borrower will use the
         proceeds of the Loans and other Collateral proceeds solely to fund (i)
         disbursements of the type and up to the amounts set forth in the
         Approved Budget (after giving effect to any Permitted Budget
         Variances), (ii) amounts constituting part of the Carve-Out and
         Approved Administration Expenses, in each case to the extent provided
         in the Financing Order, and (iii) repayment of any part of the
         Obligations."

         T.       Section 6.6 of the Pre-Petition Credit Agreement is hereby
amended by replacing the reference to "December 31, 2002" set forth therein with
a reference to "the Petition Date."

         U.       Section 6.14 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "Section 6.14     Affiliate Transactions.
                                    ----------------------

                  Except as set forth in Section 8.15 hereof, no Designated
         Company is a party to any contract or agreement with any of its
         Affiliates except on terms and conditions which are no less favorable

                                       14
<PAGE>

         to such Designated Company than would be usual and customary in similar
         contracts or agreements between Persons not affiliated with each
         other."

         V.       Article 6 of the Pre-Petition Credit Agreement is hereby
further amended by adding as new subsections 6.26, 6.27 and 6.28 thereof the
following:

                  Section 6.26      Administrative Priority; Lien Priority.
                                    --------------------------------------

                  (a)      From and after the entry of the Financing Order, and
         subject to the provisions thereof, the Obligations will constitute
         allowed administrative expenses in the Bankruptcy Cases having priority
         in payment over all other administrative expenses and unsecured claims
         against the Borrower and the other Designated Companies now existing or
         hereafter arising, of any kind or nature whatsoever (subject to the set
         asides or other provision for payment of amounts constituting part of
         the Carve-Out and amounts constituting Approved Administration
         Expenses), including, without limitation, all administrative expenses
         of the kind specified in, or arising or ordered under, sections 105,
         326, 328, 330, 331, 503(b), 506(c), 507, 546(c), 726, 1114 or any other
         provision of the Bankruptcy Code, subject, as to priority, only to
         Prior Claims.

                  (b)      From and after the entry of the Financing Order, and
         subject to the terms thereof, the Liens of the Administrative Agent on
         the Collateral shall be a valid and perfected first priority Liens,
         subject only to the Liens permitted under Section 8.8 hereof.

                  (c)      From and after the entry of the Financing Order, such
         Financing Order is in full force and effect, and has not been reversed,
         modified, amended, stayed, vacated or subject to appeal absent the
         written consent of the Administrative Agent, the Required Lenders and
         the Borrower.

                  Section 6.27      Appointment of Trustee or Examiner.
                                    ----------------------------------

                  No order has been entered in any Bankruptcy Case (i) for the
         appointment of a chapter 11 trustee, (ii) for the appointment of an
         examiner with enlarged powers (beyond those set forth in sections
         1106(a)(3) and (4) of the Bankruptcy Code) under section 1106(b) of the
         Bankruptcy Code or (iii) to convert any Bankruptcy Case to a chapter 7
         case or to dismiss any Bankruptcy Case (other than any Bankruptcy Case
         of any Foreign Debtor).

                  Section 6.28      Foreign Debtors.
                                    ---------------

                  With respect to any and all Receivables invoiced on letterhead
         of any Foreign Debtor and/or paid by the applicable account debtor to
         the order of such Foreign Debtor: (i) all such Receivables were and are
         generated from the sale by such Foreign Debtor of Inventory acquired by
         such Foreign Debtor from the Borrower, (ii) the Borrower was and is the
         sole source of Inventory for such Foreign Subsidiary, (iii) all such
         Receivables were and are included in the calculation of the Borrowing
         Base, (iv) to reimburse the Borrower for such Inventory provided to
         such Foreign Subsidiary, all payments on such Receivables by the
         respective account debtors were made directly to Borrower's collections

                                       15
<PAGE>

         lock box maintained at the Administration Agent, (v) all such
         Receivables payments were and are transferred from such lock box
         directly into the Concentration Account, (vi) all collection efforts on
         such Receivables were and are performed by Borrower, and (vii) Borrower
         is the sole provider of cash and other working capital to such Foreign
         Subsidiary. The aggregate book value of all Inventory owned, controlled
         or otherwise possessed (including, without limitation, on a consignment
         basis) by the Foreign Debtors is less than $400,000."

         W.       Section 7.1 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "Section 7.1      All Credit Events.
                                    -----------------

                  At the time of each Credit Event hereunder:

                  (a)      each of the representations and warranties set forth
         herein and in the other Loan Documents, which, in accordance with
         Section 12.5 hereof, are made at and as of the time of such Credit
         Event, shall be and remain true and correct in all material respects as
         of said time, both before and after giving effect to such Credit Event,
         except to the extent the same (i) expressly relate to an earlier date
         or (ii) are not true and correct solely by virtue of the occurrence or
         continuance of an Existing Pre-Petition Default or the event or
         condition that gave rise to same;

                  (b)      except for the Existing Pre-Petition Defaults, the
         Designated Companies shall be in compliance in all material respects
         with all of the terms and conditions hereof and of the other Loan
         Documents, and no Default or Event of Default shall have occurred and
         be continuing or would occur as a result of such Credit Event;
         provided, however, that the Lenders (or the Administrative Agent, in
         the case of Revolving Loans made pursuant to Section 3.2(e) hereof), in
         their sole discretion, may continue to make advances with respect to a
         Credit Event notwithstanding the existence of any Default or Event of
         Default and any such advances so made shall not be deemed a waiver of
         any such Default or Event of Default;

                  (c)      in the case of any Borrowing request under the
         Revolving Credit, after giving effect to such Borrowing, (i) the
         aggregate outstanding principal amount of all Revolving Loans
         (including DIP Revolving Loans) and outstanding L/C Obligations shall
         not exceed the sum of the Borrowing Base as then determined and
         computed in accordance with Section 1.1 hereof (as reduced by any
         reserves taken pursuant to Section 1.1 hereof) plus the DIP Overadvance
         Amount then in effect plus, in the Administrative Agent's sole
         discretion, any Permitted Overadvances then in effect, and (ii) the
         aggregate principal amount of all DIP Revolving Loans then outstanding
         shall not exceed the sum of all DIP Revolving Credit Commitments then
         in effect;

                  (d)      in the case of a Borrowing, the Administrative Agent
         shall have received the notice required by Section 1.6 hereof, and in
         the case of the issuance of any Letter of Credit, the L/C Issuer shall
         have received a duly completed Application for such Letter of Credit
         together with any fees called for by Section 2.1 hereof, and, in the

                                       16
<PAGE>

         case of an extension or increase in the amount of a Letter of Credit, a
         written request therefor in a form reasonably acceptable to the L/C
         Issuer together with fees called for by Section 2.1 hereof;

                  (e)      since the Petition Date, there shall have occurred no
         Material Adverse Effect and no event which may be expected to have a
         Material Adverse Effect; and

                  (f)      such Credit Event shall not violate any order,
         judgment or decree of the Bankruptcy Court or any other court or other
         governmental authority, including, without limitation, the Financing
         Order, or any provision of law or regulation applicable to the
         Administrative Agent, L/C Issuer or any Lender (including, without
         limitation, Regulation U of the Board of Governors of the Federal
         Reserve System) as then in effect.

                  Each request for a Borrowing hereunder and each request for
         the issuance of, increase in the amount of, or extension of the
         expiration date of, a Letter of Credit hereunder, shall be deemed to be
         a representation and warranty by the Borrower and each other Designated
         Company on the date of such Credit Event as to the facts specified in
         subsections (a) through (f), inclusive, of this Section."

         X.       Section 8.5(a) of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "(a)     as soon as available, and in any event no later than
         the close of business on each Business Day, a consolidated Borrowing
         Base Certificate in the form attached hereto as Exhibit C showing the
         computation of the Borrowing Base (calculated in accordance with
         Section 1.1 hereof) in reasonable detail as of the close of business on
         the immediately preceding Business Day, together with such other
         information as is therein required, in each case prepared by the
         Borrower and certified to by the Borrower's chief financial officer or
         such other officer of the Borrower reasonably acceptable to the
         Administrative Agent;"

         Y.       Section 8.5 of Pre-Petition Credit Agreement is hereby amended
by amending and restating subsection (b) thereof in its entirety as follows:

                  "(b)     as soon as available, and in any event within 20 days
         after the last day of each calendar month, a consolidated Receivables
         and accounts payable aging and a consolidated Inventory stock status
         report (by major category of Inventory and by location of the relevant
         Inventory) and an aging of Franchise Inventory for the Designated
         Companies (separately listing the aggregate value of Franchise
         Inventory that is aged (i) less than or equal to 18 months from the
         date of last receipt, (ii) more than 18 months, but less than or equal
         to 36 months from the date of last receipt, and (iii) more than 36
         months from the date of last receipt), each in form and scope
         reasonably satisfactory to the Administrative Agent and prepared by the
         Borrower and certified to by its chief financial officer or another
         officer of the Borrower reasonably acceptable to the Administrative
         Agent; provided, however, that for each calendar month ending on or
         after the Petition Date, the Borrower shall furnish such consolidated

                                       17
<PAGE>

         Receivables and accounts payable aging reports on a weekly basis as
         soon as available, and in any event within seven days following the end
         of each week;"

         Z.       Section 8.6 of the Pre-Petition Credit Agreement is hereby
amended by adding the following paragraph at the end of such Section:

                  "Without limiting any of the foregoing, from and after the
         Petition Date, Borrower hereby agrees to, and shall cause each other
         Designated Company to: (i) give Administrative Agent and its
         Representatives (defined below) access to the offices, properties,
         officers, employees, accountants, auditors, counsel and other
         representatives, books and records of Borrower and the other Designated
         Companies, (ii) furnish to Administrative Agent and its Representatives
         such financial, operating, property and sale related data and other
         information as such Persons shall reasonably request, and (iii)
         instruct Borrower's and any other Designated Company's employees,
         accountants, auditors, counsel, financial advisors (including, without
         limitation, Raymond James & Associates, Inc., RAS Management Advisors,
         Inc. and any other advisor retained by, or on behalf of, any Designated
         Company) and other representatives to fully cooperate with, and upon
         request regularly consult with, Administrative Agent and its
         Representatives in respect of the immediately preceding clauses (i) and
         (ii)), but in each case subject to the attorney-client and/or attorney
         work product privileges. For purposes of this Agreement, the term
         "Representatives" shall mean Administrative Agent's employees, agents,
         representatives, advisors, appraisal/liquidator firms and consultants,
         and any financial advisor, appraisal/liquidator firm and other
         consultant retained by Administrative Agent's counsel to assist in the
         representation of Administrative Agent (including, without limitation,
         Giuliani Capital Advisors and its members, employees and other
         representatives)."

         AA.      Section 8.7 of the Pre-Petition Credit Agreement is hereby
amended by adding the following sentence to the end of such Section:

                  "Notwithstanding any provision to the contrary set forth in
         this Agreement, the exceptions set forth in subsections 8.7(b), (d),
         (f), (g), (h), (k), (l) and (m) hereof shall not apply to any
         Indebtedness for Borrowed Money or any other indebtedness or obligation
         of the Borrower or any other Designated Company incurred on or after
         the Petition Date."

         BB.      Section 8.7 of the Pre-Petition Credit Agreement is hereby
further amended by amending and restating the last paragraph of such Section in
its entirety as follows:

                  "Notwithstanding the foregoing, no Designated Company other
         than the Borrower shall incur, create, assume, become or be liable in
         any manner with respect to, or permit to exist, any obligations or
         indebtedness (including without limitation trade payables and
         accounts), including all types of indebtedness and obligations
         otherwise permitted under this Section 8.7, except intercompany
         indebtedness owing to the Borrower to the extent permitted under the
         Financing Order."

                                       18
<PAGE>

         CC.      Section 8.8 of the Pre-Petition Credit Agreement is hereby
amended by adding the following sentence to the end of such Section:

                  "Notwithstanding any provision to the contrary set forth in
         this Agreement, the exceptions set forth in subsections 8.8(d), (e),
         (h) and (i) hereof shall not apply to any Lien granted or otherwise
         arising on or after the Petition Date."

         DD.      Section 8.8 of the Pre-Petition Credit Agreement is hereby
further amended by amending and restating subsection (j) thereof as follows, and
adding as a new subsection (k) thereof, the following:

                  "(j)     the Liens granted in favor of the Administrative
         Agent to secure the Obligations pursuant to the Collateral Documents
         and the Financing Order; and

                  (k)      set asides or other provision for payment of amounts
         constituting part of the Carve-Out and amounts constituting Approved
         Administration Expenses, in each case, to the extent permitted under
         the Financing Order."

         EE.      Section 8.9 of the Pre-Petition Credit Agreement is hereby
amended by adding the following sentence to the end of such Section:

                  "Notwithstanding any provision to the contrary set forth in
         this Agreement, the exceptions set forth in subsections 8.9(b)-(e), (f)
         (solely as it relates to investments, loans, acquisitions and advances
         to any Foreign Debtor), (g) - (j), (l), (n) and (o) hereof shall not
         apply to any investments, loans, advances or acquisitions made on or
         after the Petition Date."

         FF.      Section 8.10 of the Pre-Petition Credit Agreement is hereby
amended by adding the following sentence to the end of such Section:

                  "Notwithstanding any provision to the contrary set forth in
         this Agreement, the exceptions set forth in subsections 8.10(a) (solely
         as it relates to any lease, but not sale, of Inventory in the ordinary
         course of business), (c) and (d) hereof (and the corresponding
         obligation of Administrative Agent to release its Liens on the subject
         Property set forth in the last sentence of Section 8.10 hereof) shall
         not apply to any merger, consolidation, sale, transfer, lease or other
         disposal of Property on or after the Petition Date."

         GG.      Section 8.12 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "No Designated Company shall (a) declare or pay any dividends
         on or make any other distributions in respect of any class or series of
         its capital stock or other equity interests (including, without
         limitation, any payments in respect of stock appreciation rights and
         common stock equivalents), (b) directly or indirectly purchase, redeem,
         or otherwise acquire or retire any of its capital stock or other equity
         interests or any warrants or options to acquire the same, other than
         the retirement of the stock by a Designated Company (other than the
         Borrower) in connection with its liquidation and dissolution or other
         termination to the extent permitted by or consistent with Section 8.1

                                       19
<PAGE>

         in a cashless transaction, or (c) pay consulting, management, or other
         similar fees to their Affiliates (collectively, "Restricted Payments");
         provided, however, that the foregoing shall not operate to prevent the
         making of dividends or distributions by any Subsidiary of a Designated
         Company to such Designated Company."

         HH.      Section 8.15 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "No Designated Company shall enter into any contract,
         agreement or business arrangement with any of its Affiliates on terms
         and conditions which are less favorable to such Designated Company than
         would be usual and customary in similar contracts, agreements or
         business arrangements between Persons not affiliated with each other,
         or pay any consulting, management or similar fees to any officer,
         stockholder, director or Affiliate of any Designated Company, except
         that (i) the Borrower or any other Designated Company may transfer
         Inventory at cost to any other Designated Company at the time of
         shipment thereof to a customer of such Designated Company; and (ii)
         subject to the terms of this Agreement and the Financing Order, the
         Borrower may transfer Inventory at "cost plus" to any Foreign Debtor in
         the ordinary course of its business consistent with its recent past
         practice."

         II.      Section 8.17 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "Except for Subsidiaries existing on the Assumption Agreement
         Effectiveness Date, no Designated Company shall form or acquire any
         other Subsidiary."

         JJ.      Section 8.21 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "No Designated Company shall incur, or increase the amount of,
         any Subordinated Debt from and after the Petition Date."

         KK.      Section 8.22 of the Pre-Petition Credit Agreement is hereby
amended by making the financial covenants set forth in subsections (a) - (f) and
(h) thereof inapplicable to any time period beginning on or after the Petition
Date.

         LL.      Section 8.25 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "Section 8.25     Inventory Purchases.
                                    -------------------

                  From and after the Petition Date, (i) no Designated Company
         (other than the Borrower) shall, or shall permit any Foreign Debtor to,
         at any time purchase or otherwise acquire any Inventory from any Person
         (other than from Borrower to the extent permitted under Section 8.15
         hereof); and (ii) Borrower shall not at any time purchase or otherwise
         acquire any Inventory from any Person except in accordance with the
         terms of this Agreement and the Financing Order."

                                       20
<PAGE>

         MM.      Section 8.28 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "The Borrower irrevocably agrees and consents to
         Administrative Agent engaging (and thereafter continuing to retain) at
         the expense of the Borrower, one or more appraisal/liquidation firms
         satisfactory to the Administrative Agent, to promptly prepare and
         deliver a written appraisal/liquidation proposal of all or any portion
         of the Collateral based on assumptions and standards reasonably
         acceptable to the Administrative Agent; provided, however, that the
         aggregate amount of all such expenses in excess of the aggregate
         amounts budgeted for Administrative Agent expenses in the Approved
         Budget and the Approved Administration Expenses shall be immediately
         due and payable on the Termination Date (immediately prior to the
         termination of the DIP Revolving Credit Commitments) (and, for the
         avoidance of doubt, all such fees and reimbursable expenses shall
         constitute Obligations and, as the case may be, Pre-Petition
         Indebtedness or DIP Indebtedness, and shall otherwise be subject to the
         terms and conditions of the Loan Documents and the Financing Order).
         The rights provided to the Administrative Agent in this Section 8.28
         shall be in addition to all other rights and remedies available to the
         Administrative Agent and the Lenders under the Loan Documents and
         applicable law."

         NN.      Section 8 of the Pre-Petition Credit Agreement is hereby
further amended by adding as a new subsection 8.29 thereof the following:

                  "Section 8.29 Sale Process Covenants. Subject to the
         provisions of subsection 8.29(m) below, the Borrower shall, and shall
         cause each other Designated Company and Foreign Debtor to, sell on or
         before June 8, 2007, pursuant to section 363 and/or other applicable
         provisions of the Bankruptcy Code and other applicable laws, all or a
         substantial portion of their respective assets and Property to the
         Successful Bidder pursuant to the terms of the Successful Bidder
         Purchase Agreement (as each such term is defined below) in accordance
         with bidding and auction procedures acceptable to Administrative Agent
         and Required Lenders and approved by the Bankruptcy Court (the "Section
         363 Sale"). Without limiting the generality of the foregoing:

                  (a)      at all times through the consummation of a Section
         363 Sale, Borrower shall continue to retain (and take all actions
         necessary in the Bankruptcy Cases to retain) Raymond James &
         Associates, Inc. or another investment banking firm proposed by the
         Borrower and acceptable to the Administrative Agent (the "Investment
         Bank"), in either case on terms and conditions acceptable to
         Administrative Agent (it being understood and agreed that the retention
         of Raymond James & Associates, Inc. pursuant to that certain engagement
         letter with the Borrower, dated April 24, 2007 (as in effect on the
         Assumption Agreement Effectiveness Date or as subsequently amended with
         the prior written consent of Administrative Agent), is deemed
         acceptable to the Administrative Agent), to assist and advise the
         Borrower and other Designated Companies regarding all aspects of the
         sale process;

                  (b)      on the Petition Date, the Debtors shall file a motion
         pursuant to section 363 and other applicable provisions of the
         Bankruptcy Code, in form and substance satisfactory to the
         Administrative Agent and the Required Lenders, seeking Bankruptcy Court

                                       21
<PAGE>

         approval of the Section 363 Sale, and of auction and bidding procedures
         with respect to the Section 363 Sale (the "Bidding Procedures") that
         are satisfactory to Administrative Agent and Required Lenders (the
         "Sale Motion");

                  (c)      on or prior to the Petition Date, the Debtors shall
         have prepared and delivered to the Administrative Agent a form of
         definitive purchase agreement with respect to the Section 363 Sale that
         is in form and substance satisfactory to the Administrative Agent and
         Required Lenders (the "Form Purchase Agreement");

                  (d)      on or prior to May 1, 2007, the Bankruptcy Court
         shall have entered an order, in form and substance satisfactory to the
         Administrative Agent and the Required Lenders, approving the Bidding
         Procedures (the "Bidding Procedures Order");

                  (e)      within one Business Day following entry of the
         Bidding Procedures Order, the Debtors shall deliver to all known
         prospective purchasers copies of the Bidding Procedures Order and the
         Form Purchase Agreement to be marked up and returned to the Debtors as
         part of any Qualifying Bid (as defined below);

                  (f)      the Debtors shall establish (and the Bidding
         Procedures Order shall provide) May 28, 2007 as the deadline for
         prospective purchasers to (i) complete all due diligence and (ii)
         submit a definitive purchase agreement and any related purchase
         documents setting forth all of the terms and conditions of a legally
         binding bid for the purchase of all or a substantial portion of the
         Debtors' assets, together with redlined copies of such definitive
         purchase documents marked against the applicable Form Purchase
         Agreement (each, a "Qualified Bid");

                  (g)      on or prior to May 30, 2007, the Debtors shall have
         completed negotiations with the prospective purchasers that submitted
         Qualified Bids (each, a "Qualified Bidder") with respect to the terms
         and conditions of such Qualified Bids and shall have selected a
         Qualified Bid acceptable to the Administrative Agent and Required
         Lenders in their sole discretion (unless, in Administrative Agent's
         judgment, it provides for the payment of all Obligations in full in
         cash in accordance with the terms of this Agreement) to become the
         "stalking horse bid" and/or opening bid at the auction pursuant to the
         terms of the Bidding Procedures Order (the "Opening Bid"); provided,
         that no Designated Company shall seek authority from the Bankruptcy
         Court to provide such bidder any bid protections (including, without
         limitation, any expense reimbursement or break-up fee) without the
         prior written consent of Administrative Agent and Required Lenders;

                  (h)      on or prior to June 1, 2007, the Debtors shall have
         (i) conducted and concluded an auction with respect to the sale of the
         Debtors' assets in accordance with the terms of the Bidding Procedures
         Order, and (ii) selected a Qualified Bid received at such auction as
         the highest or otherwise best offer to purchase all or a substantial
         portion of the Debtor's assets, which Qualified Bid shall be acceptable
         to Administrative Agent and Required Lenders in their sole discretion
         unless, in Administrative Agent's judgment, it provides for the payment
         of all Obligations in full in cash in accordance with the terms of this
         Agreement (such Qualified Bid, as reflected in the tendered purchase

                                       22
<PAGE>

         agreement, the "Successful Bidder Purchase Agreement," and the Person
         making such Qualified Bid, the "Successful Bidder");

                  (i)      on or prior to June 5, 2007, the Bankruptcy Court
         shall have held a final hearing on the Sale Motion (the "Sale Hearing")
         and entered an order, in form and substance satisfactory to the
         Administrative Agent and the Required Lenders, granting the Sale Motion
         and authorizing and approving the transactions contemplated by the
         Successful Bidder Purchase Agreement (the "Sale Order");

                  (j)      on or prior to June 8, 2007, the Debtors shall have
         consummated the transactions contemplated by the Successful Bidder
         Purchase Agreement in accordance with the terms thereof and of the Sale
         Order;

                  (k)      the Debtors (i) shall cause the Successful Bidder
         Purchase Agreement to remain in full force and effect in all respects
         at all times until the consummation of the transactions contemplated
         thereby (without any amendments or other modifications thereto as to
         which the Administrative Agent acting at the direction of the Required
         Lenders has not given its prior written consent), (ii) shall comply,
         and shall cause the Foreign Debtors to comply, with all of the
         provisions of the Successful Bidder Purchase Agreement and the Sale
         Order, and shall satisfy, and shall cause the Foreign Debtors to
         satisfy, all conditions precedent to the obligation of the Successful
         Bidder to consummate the transactions contemplated by the Successful
         Bidder Purchase Agreement, (iii) shall not amend, supplement or
         otherwise modify any of the terms of the Successful Bidder Purchase
         Agreement or any of the agreements, instruments or documents relating
         thereto, without the prior written consent of the Administrative Agent
         acting at the direction of the Required Lenders, (iv) shall not
         exercise any right to terminate, or execute and deliver or otherwise
         provide any waivers or consents with respect to the Successful Bidder
         Purchase Agreement or any of the agreements, instruments or documents
         relating thereto, without the prior written consent of the
         Administrative Agent acting at the direction of the Required Lenders,
         and (v) promptly after receipt of same, provide to Administrative Agent
         copies of all notices and other written communications from, or on
         behalf of, the Successful Bidder to any Debtor;

                  (l)      the Debtors shall, and shall cause Investment Bank
         to, (i) meet at such reasonable times during normal business hours and
         as often as may be reasonably requested with the Administrative Agent
         and the Lenders and their respective Representatives, to answer
         questions related to the sale process, and (ii) provide updates and
         deliver such written materials as reasonably may be requested by
         Administrative Agent or any Lender relating to the sale process, or any
         proposed sale transaction or any indication of interest or other offer
         from any prospective purchaser. In addition, on a weekly basis from and
         after the Petition Date through the consummation of the Section 363
         Sale, the Designated Companies shall, or shall cause Investment Bank
         to, prepare and deliver to Administrative Agent and the Lenders a
         report, in form and substance acceptable to Administrative Agent, on
         the status and progress of the sale process. Without limiting the
         foregoing, the Designated Companies shall, and shall cause Investment
         Bank to, provide the Administrative Agent, the Lenders and their
         respective designees copies of all material reports, analyses and other
         materials related to the sale process (including, without limitation,

                                       23
<PAGE>

         any and all confidential memoranda or other work product provided to
         any Designated Company by Investment Bank). Notwithstanding anything in
         this subsection 8.29(l) to the contrary, neither the Designated
         Companies nor Investment Bank shall be required to disclose, except as
         otherwise required by applicable law, any information that is protected
         by the attorney-client and/or attorney work product privileges.

                  (m)      Nothing herein or in any other Loan Document shall
         require, or be construed as requiring, any of Administrative Agent or
         any Lender to consent to any Opening Bid, any Section 363 Sale or any
         other Disposition of assets or Property (except to the extent expressly
         permitted under Section 8.10 hereof), which consent the Administrative
         Agent and each Lender have the absolute right to withhold in their
         respective sole and absolute discretion unless and until the
         Obligations are repaid and otherwise satisfied in full in cash in
         accordance with the terms hereof.

                  Notwithstanding any of provision to the contrary set forth in
         this subsection 8.29, Administrative Agent (acting in its sole
         discretion or at the direction of the Required Lenders in their sole
         discretion) may extend any of the time periods and deadlines set forth
         above (other than the deadline set forth in subsection 8.29(j));
         provided, that no such extension shall be effective unless and until
         agreed to in writing by the Administrative Agent."

         OO.      Section 8 of the Pre-Petition Credit Agreement is hereby
further amended by adding as a new subsection 8.30 thereof the following:

                  "Section 8.30 Post-Petition Date Reporting Requirements. In
         addition to, and not in lieu of, all other reports, documents and other
         information required to be delivered by any Designated Company to
         Administrative Agent under this Agreement, on Friday of each week, the
         Borrower shall deliver to the Administrative Agent a weekly report, in
         form and substance reasonably satisfactory to the Administrative Agent
         and signed by an Authorized Representative of Borrower (the "Weekly
         Variance Report"), reflecting, on a line item basis, (i) the actual
         cash receipts and cash disbursements for the seven day period ending on
         the immediately preceding Friday, the percentage variance of such
         actual results from the budgeted amounts reflected in the Approved
         Budget for such period and for the cumulative post-Petition Date period
         ending at the end of such seven day period, and a reasonably detailed
         explanation of each material variance; and (ii) the actual payments
         made in respect of Approved Administration Expenses for the seven day
         period ending on the immediately preceding Friday, and the remaining
         budgeted amount of each category of Approved Administration Expenses
         after deducting such payments."

         PP.      Section 8 of the Pre-Petition Credit Agreement is hereby
further amended by adding as new subsections 8.31, 8.32, 8.33 and 8.34 thereof
the following:

                  "Section 8.31 Repayment of Indebtedness. Except pursuant to a
         confirmed plan of reorganization or liquidation and except as
         specifically permitted hereunder or as otherwise agreed to in writing
         by Administrative Agent and Required Lenders in their sole discretion,
         Borrower shall not, and shall cause the other Designated Companies not

                                       24
<PAGE>

         to, make any payment or transfer with respect to any Lien or
         indebtedness incurred or arising prior to the Petition Date that is
         subject to the automatic stay provisions of the Bankruptcy Code whether
         by way of "adequate protection" under the Bankruptcy Code or otherwise.
         Without limiting the generality of the foregoing, Borrower shall not
         make, and shall cause the other Designated Companies not to make, any
         pre-petition "critical vendor" payments or any pre-petition or
         post-petition employee retention, incentive, severance or similar
         payments ("KERP Payments") except in amounts and on other terms and
         conditions that (i) are approved by order of the Bankruptcy Court, and
         (ii) are consented to in writing by the Administrative Agent acting at
         the direction of the Required Lenders.

                  Section 8.32 Reclamation Claims. Borrower shall not, and shall
         cause the other Designated Companies not to, enter into any agreement
         to return any inventory to any creditor for application against any
         pre-Petition Date indebtedness, pre-Petition Date trade payables or
         other pre-Petition Date claims under section 546(h) of the Bankruptcy
         Code or otherwise, or allow any creditor to take any setoff or
         recoupment against any of Borrower's or any other Designated Company's
         pre-Petition Date indebtedness, pre-Petition Date trade payables or
         other pre-Petition Date claims based upon any such return pursuant to
         section 553(b)(1) of the Bankruptcy Code or otherwise, except in
         amounts and on other terms and conditions that (i) are approved by
         order of the Bankruptcy Court, and (ii) are consented to in writing by
         the Administrative Agent acting at the direction of the Required
         Lenders.

                  Section 8.33  Chapter 11 Claims. Borrower shall not, and shall
         cause the other Designated Companies not to, incur, create, assume,
         suffer to exist or permit any other super-priority administrative claim
         which is pari passu with, or senior to, the claims of any or all of the
         Administrative Agent and Lenders against any or all of the Borrower and
         the other Designated Companies.

                  Section 8.34  Limitations on Product Vendor Purchases.
                                ---------------------------------------

                  In addition to, and not in lieu of, any other limitations on
         the use of Loan proceeds and Collateral proceeds set forth herein and
         in the Financing Order (including, without limitation, the limitations
         imposed by the Approved Budget), Borrower shall only make payments to
         product vendors if, and to the extent, all Inventory being purchased by
         Borrower from such product vendor: (i) is either in stock with such
         product vendor as of the date the applicable order is placed or can be
         shipped by such product vendor to the Borrower (so as to be received by
         Borrower) within six (6) Business Days of the date the applicable order
         is placed; and (ii) (ii) as of the date such order is placed, such
         Inventory is subject to existing customer purchase orders and can be
         shipped to such customers within two (2) Business Days of receipt by
         Borrower; provided, however, that if Inventory purchased by Borrower
         is, prior to delivery to a customer, subject to the completion of
         services provided to Borrower by a provider of value-added services,
         then such provider of value-added services shall be deemed to be an
         additional product vendor with respect to such Inventory and Borrower
         shall have no obligation to ship such Inventory to its customer until
         two (2) Business Days after receipt from such provider of value-added
         services."

                                       25
<PAGE>

         QQ.      Section 9.1 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "Section 9.1      Events of Default.
                                    -----------------

                  Notwithstanding the provisions of section 362 of the
         Bankruptcy Code and without notice, application or motion to, hearing
         before, or order of, the Bankruptcy Court or any notice to any or all
         of the Borrower or the other Designated Companies, and subject to the
         provisions of Section 9.2 hereof and the Administrative Agent's and
         Lenders' obligation to forbear in respect of the Existing Pre-Petition
         Defaults pursuant to Section 2 of the Assumption Agreement, any one or
         more of the following shall constitute an "Event of Default" hereunder:

                  (a)      default in the payment when due of all or any part of
         the principal of or interest on any Loans (whether at the stated
         maturity thereof or at any other time provided for in this Agreement)
         or of any Reimbursement Obligation or of any fee or other Obligation
         payable hereunder or under any other Loan Document;

                  (b)      default in the observance or performance of any
         covenant set forth in Sections 4.2, 4.5, 8.1, 8.4, 8.6-8.12
         (inclusive), 8.15, 8.21-8.22 (inclusive), 8.25-8.26 (inclusive) or
         8.28-8.29 (inclusive), 8.31-8.34 (inclusive) hereof or of any provision
         in this Agreement dealing with the use, disposition or remittance of
         the proceeds of Collateral or requiring the maintenance of insurance
         thereon;

                  (c)      default in the observance or performance of any
         covenant set forth in (i) Section 8.5(a), Section 8.5(n), or Section
         8.30 hereof, which failure continues for 2 days after the occurrence
         thereof; (ii) Section 8.5(b) hereof, which failure continues for 3 days
         after the occurrence thereof; (iii) Section 8.5(c), (d), (e) or (f)
         hereof, which failure continues for 5 days after the occurrence
         thereof; (iv) Section 8.28 hereof, which failure continues for 10 days
         after the occurrence thereof; or (v) any provision hereof other than as
         set forth in clause (b) above or subclauses (i), (ii), (iii) or (iv) of
         this clause (c), which is not remedied within 15 days after the
         occurrence thereof;

                  (d)      any material representation or warranty made herein
         or in any other Loan Document or in any certificate furnished to the
         Administrative Agent or the Lenders pursuant hereto or thereto or in
         connection with any transaction contemplated hereby or thereby proves
         untrue in any material respect as of the date of the issuance or making
         or deemed making thereof;

                  (e)      any event occurs or condition exists (other than
         those described in subsections (a) through (d) above) which is
         specified as an event of default under any of the other Loan Documents,
         which continues beyond any cure or grace period set forth therein, or
         any of the Loan Documents shall for any reason not be or shall cease to
         be in full force and effect or is declared to be null and void, or any
         of the Collateral Documents shall for any reason fail to create a valid
         and perfected first priority Lien in favor of the Administrative Agent
         in the Collateral or any material part thereof except as expressly
         permitted by the terms thereof and the Financing Order, or any

                                       26
<PAGE>

         Designated Company takes any action for the purpose of terminating,
         repudiating or rescinding any Loan Document executed by it or any of
         its obligations thereunder;

                  (f)      except to the extent permitted or excused by the
         Bankruptcy Code, any default shall occur and be continuing under any
         Indebtedness for Borrowed Money issued, assumed or guaranteed by any
         Designated Company aggregating in excess of $1,000,000, or under any
         indenture, agreement or other instrument under which the same may be
         issued, and such default shall continue for a period of time sufficient
         to permit the acceleration of the maturity of any such Indebtedness for
         Borrowed Money (whether or not such maturity is in fact accelerated),
         or any such Indebtedness for Borrowed Money shall not be paid when due
         (whether by demand, lapse of time, acceleration or otherwise);

                  (g)      any judgment or judgments, writ or writs or warrant
         or warrants of attachment, or any similar process or processes shall be
         entered or filed against any Designated Company, or against any of its
         Property, in an aggregate amount for all Designated Companies and their
         Property in excess of $1,000,000 (except to the extent fully covered by
         insurance pursuant to which the insurer has accepted liability therefor
         in writing), and which remains undischarged, unvacated, unbonded or
         unstayed for a period of 30 days;

                  (h)      any Designated Company, or any member of its
         Controlled Group, shall fail to pay when due an amount or amounts
         aggregating in excess of $500,000 which it shall have become liable to
         pay to the PBGC or to a Plan under Title IV of ERISA; or notice of
         intent to terminate a Plan or Plans having aggregate Unfunded Vested
         Liabilities in excess of $1,000,000 (collectively, a "Material Plan")
         shall be filed under Title IV of ERISA by any Designated Company, or
         any other member of its Controlled Group, any plan administrator or any
         combination of the foregoing; or the PBGC shall institute proceedings
         under Title IV of ERISA to terminate or to cause a trustee to be
         appointed to administer any Material Plan or a proceeding shall be
         instituted by a fiduciary of any Material Plan against any Designated
         Company, or any member of its Controlled Group, to enforce Section 515
         or 4219(c)(5) of ERISA and such proceeding shall not have been
         dismissed within 30 days thereafter; or a condition shall exist by
         reason of which the PBGC would be entitled to obtain a decree
         adjudicating that any Material Plan must be terminated;

                  (i)      any Designated Company is enjoined, restrained or in
         any way prevented by the order of any court or any administrative or
         regulatory agency from conducting all or a material part of its
         business affairs and such event could be reasonably likely to have a
         Material Adverse Effect;

                  (j)      any loss, theft, substantial damage or destruction of
         any item or items of Collateral shall occur if (i) the amount of such
         loss with respect to which the insurer has not within 30 days accepted
         liability exceeds $1,000,000 in the aggregate or (ii) such loss results
         in an interruption of the business of any Designated Company which
         would reasonably be expected to have a Material Adverse Effect;

                                       27
<PAGE>

                  (k)      there shall be instituted in any court criminal
         proceedings against any Designated Company or any Designated Company
         shall be indicted for any crime, in either case for which forfeiture of
         a material amount of its Property is a potential penalty;

                  (l)      Bruce Goldberg shall cease to function as a senior
         management officer of the Borrower, unless he is replaced within 120
         days with a Person satisfactory to the Administrative Agent in its
         reasonable judgment;

                  (m)      an event shall occur which has a Material Adverse
         Effect; or

                  (o)      the occurrence of any of the following in any
         Bankruptcy Case:

                           1.       the bringing of a motion, taking of any
                           action or the filing of any plan of reorganization or
                           disclosure statement attendant thereto by Borrower or
                           any other Designated Company in any Bankruptcy Case:
                           (i) to obtain additional financing under section
                           364(c) or (d) of the Bankruptcy Code not otherwise
                           permitted pursuant to this Agreement; (ii) to grant
                           any Lien (other than any Lien permitted under Section
                           8.8 hereof) upon or affecting any Collateral; (iii)
                           except as provided in the Financing Order, to use
                           cash collateral of Administrative Agent or any Lender
                           under section 363(c) of the Bankruptcy Code without
                           the prior written consent of the Administrative Agent
                           acting at the direction of the Required Lenders; or
                           (iv) any other action or actions adverse to the
                           Administrative Agent and the Lenders or their rights
                           and remedies hereunder or their interest in the
                           Collateral;

                           2.       the filing of any plan of reorganization or
                           liquidation or disclosure statement attendant
                           thereto, or any direct or indirect amendment to such
                           plan or disclosure statement by Borrower or any other
                           Designated Company or any other Person to which the
                           Administrative Agent, acting at the direction of the
                           Required Lenders, does not consent or otherwise agree
                           to the treatment of their claims;

                           3.       the entry of an order in any of the
                           Bankruptcy Cases confirming a plan or plans of
                           reorganization or liquidation that does not contain a
                           provision for termination of all financing
                           commitments hereunder and repayment in full in cash
                           of all of the Obligations under this Agreement on or
                           before the effective date of such plan or plans;

                           4.       the entry of any order amending,
                           supplementing, staying, vacating or otherwise
                           modifying any Loan Document, the Interim Financing
                           Order, the Final Financing Order, the Sale Order or
                           the Bidding Procedures Order in any material respect,
                           in each case without the written consent of the
                           Administrative Agent acting at the direction of the
                           Required Lenders, or the filing of a motion for
                           reconsideration with respect to any of the Interim
                           Financing Order, the Final Financing Order, the
                           Bidding Procedures Order or the Sale Order;

                                       28
<PAGE>

                           5.       the Final Financing Order is not entered by
                           the Bankruptcy Court by the earlier of (x) May 25,
                           2007, or such later date as Administrative Agent
                           (acting at the direction of the Required Lenders in
                           their sole discretion) may consent to in writing or
                           (y) immediately following the expiration of the
                           Interim Financing Order;

                           6.       the Bidding Procedures Order is not entered
                           by the Bankruptcy Court by May 1, 2007;

                           7.       the Sale Order is not entered by the
                           Bankruptcy Court by June 5, 2007;

                           8.       the payment of, or application for authority
                           to pay, any pre-petition claim without the prior
                           written consent of the Administrative Agent (acting
                           at the direction of the Required Lenders), unless
                           otherwise permitted under this Agreement or under
                           "first-day" orders acceptable to the Administrative
                           Agent and the Required Lenders (including, without
                           limitation, any "critical vendor" payments or KERP
                           Payments);

                           9.       the allowance of any claim or claims under
                           section 506(c) of the Bankruptcy Code or otherwise
                           against any or all of the Administrative Agent and
                           the Lenders, their respective claims or any of their
                           Collateral, or the filing of any motion or
                           application seeking allowance of any such claim;

                           10.      the appointment of an interim or permanent
                           trustee in any Bankruptcy Case or the appointment of
                           a receiver or an examiner in any Bankruptcy Case with
                           expanded powers to operate or manage the financial
                           affairs, the business, or reorganization of Borrower
                           or any other Designated Company;

                           11.      except as expressly permitted by Section
                           8.10, the sale or other disposition, without the
                           Administrative Agent's and Required Lenders' consent,
                           of any Collateral through a sale under section 363 of
                           the Bankruptcy Code, a confirmed plan of
                           reorganization or liquidation in the applicable
                           Bankruptcy Cases or otherwise;

                           12.      the dismissal of any Bankruptcy Case or the
                           conversion of any Bankruptcy Case from one under
                           chapter 11 to one under chapter 7 of the Bankruptcy
                           Code, or Borrower or any other Designated Company
                           shall file a motion or other pleading seeking the
                           dismissal of any Bankruptcy Case under section 1112
                           of the Bankruptcy Code or otherwise;

                           13.      the entry of an order by the Bankruptcy
                           Court granting relief from or modifying the automatic
                           stay of section 362 of the Bankruptcy Code (i) to
                           allow any creditor (other than Administrative Agent
                           and the Lenders) to execute upon or enforce a Lien on
                           any Collateral, or (ii) with respect to any Lien of
                           or the granting of any Lien on any Collateral to any

                                       29
<PAGE>

                           state or local environmental or regulatory agency or
                           authority, which in either case would have a Material
                           Adverse Effect;

                           14.      the assertion of or joinder in any claim,
                           counterclaim, action, proceeding, application,
                           motion, objection, defense or other contested matter,
                           the purpose of which is to seek or the result of
                           which would be to obtain any order, judgment,
                           determination, declaration or similar relief (i)
                           invalidating, setting aside, avoiding or
                           subordinating, in whole or in part, the Obligations
                           or Administrative Agent's Liens on Collateral, (ii)
                           for monetary, injunctive or other affirmative relief
                           against any or all of the Administrative Agent and
                           the Lenders or any Collateral, or (iii) preventing,
                           hindering or otherwise delaying the exercise by any
                           or all of the Administrative Agent and the Lenders of
                           any of their respective rights and remedies under the
                           Financing Order, the Loan Documents or applicable
                           law, or the enforcement or realization (whether by
                           foreclosure, credit bid, further order of the
                           Bankruptcy Court or otherwise) by Administrative
                           Agent or any Lender upon any Collateral;

                           15.      the commencement of any other suit or action
                           against Administrative Agent or any Lender and, as to
                           any suit or action brought by any Person other than
                           Borrower or any other Designated Company or any
                           officer or employee of Borrower or any other
                           Designated Company, the continuation thereof without
                           dismissal for thirty (30) days after service thereof
                           on Administrative Agent or such Lender, that asserts
                           or seeks by or on behalf of Borrower or any other
                           Designated Company, the United States Environmental
                           Protection Agency, any state environmental protection
                           or health and safety agency, any official committee
                           in any Bankruptcy Case or any other party in interest
                           in any of the Bankruptcy Cases, a claim (i) in excess
                           of $50,000, (ii) that would otherwise have a Material
                           Adverse Effect, or (iii) that would otherwise have a
                           material adverse effect on the rights and remedies of
                           Administrative Agent or any Lender under any Loan
                           Document or the collectibility of all or any portion
                           of the Obligations;

                           16.      the entry of an order in any Bankruptcy Case
                           avoiding or requiring disgorgement of any portion of
                           any payment made on account of the Obligations owing
                           under this Agreement or any of the other Loan
                           Documents, whether such payment was made prior to, on
                           or after the Petition Date;

                           17.      the failure of Borrower or any other
                           Designated Company to perform any of its obligations
                           under the Interim Financing Order or the Final
                           Financing Order;

                           18.      the entry of an order granting, approving or
                           allowing, or the filing by Borrower or any other
                           Designated Company of any motion or application
                           seeking the entry of an order granting, approving or

                                       30
<PAGE>

                           allowing, in any of the Bankruptcy Cases, any other
                           super-priority administrative claim or Lien pari
                           passu with, or superior to, the Liens and
                           super-priority administrative claims granted to any
                           or all of the Administrative Agent and Lenders under
                           the Financing Order and other Loan Documents; and

                           19.      the entry of any order amending,
                           supplementing, staying, vacating or otherwise
                           modifying the Bidding Procedures Order or the Sale
                           Order in any material respect without the prior
                           written consent of the Administrative Agent (acting
                           at the direction of the Required Lenders) or the
                           filing by any Designated Company of any motion or
                           application seeking the entry of any such order
                           without the prior written consent of the
                           Administrative Agent acting at the direction of the
                           Required Lender.

         RR.      Section 9.2 of the Pre-Petition Credit Agreement is hereby
amended by amending and restating such Section in its entirety as follows:

                  "Section 9.2 Non-Bankruptcy Defaults. If an Event of Default
         shall have occurred and shall be continuing, and subject to the
         provisions of the Financing Order:

                  (a)      The Administrative Agent shall, by written notice to
         the Borrower: (i) if so directed by the Required Lenders, terminate the
         remaining Commitments and all other obligations of the Lenders
         hereunder on the date stated in such notice (which may be the date
         thereof); (ii) if so directed by the Required Lenders, declare the
         principal of and the accrued interest on all outstanding Loans to be
         forthwith due and payable and thereupon all outstanding Loans,
         including both principal and interest thereon, shall be and become
         immediately due and payable together with all other amounts payable
         under the Loan Documents without further demand, presentment, protest
         or notice of any kind; and (iii) if so directed by the Required
         Lenders, demand that the Borrower immediately pay to the Administrative
         Agent 105% of the full amount then available for drawing under each or
         any Letter of Credit, and the Borrower agrees to immediately make such
         payment and acknowledges and agrees that the Lenders would not have an
         adequate remedy at law for failure by the Borrower to honor any such
         demand and that the Administrative Agent, for the benefit of the
         Lenders, shall have the right to require the Borrower to specifically
         perform such undertaking whether or not any drawings or other demands
         for payment have been made under any Letter of Credit. The
         Administrative Agent, after giving notice to the Borrower of the
         occurrence of any Event of Default, shall also promptly send a copy of
         such notice to the other Lenders, but the failure to do so shall not
         impair or annul the effect of such notice.

                  (b)      As provided in the Financing Order, if Administrative
         Agent and Lenders are entitled, and have elected in accordance with the
         provisions hereof and of the Financing Order, to enforce Administrative
         Agent's Liens or exercise any other default-related rights and remedies
         under the Loan Documents or applicable law, and provided that
         Administrative Agent and Lenders in their sole discretion have made
         available to the Designated Companies (through additional post-petition
         loans or by consenting to Designated Companies' use of cash collateral)
         sufficient funds to pay the reasonable and necessary costs thereof, if
         any, the Designated Companies shall cooperate with Administrative Agent

                                       31
<PAGE>

         and the Lenders in connection with such enforcement action by, among
         other things, (i) providing access to the Designated Companies'
         premises to representatives of the Administrative Agent and the Lenders
         (including any collateral liquidator or consultant retained by, or on
         behalf of, Administrative Agent), (ii) providing Administrative Agent
         and the Lenders and their representatives access to the Designated
         Companies' books and records and any information or documents requested
         by Administrative Agent, Lenders or their representatives, (iii)
         performing all other obligations set forth in the Loan Documents, and
         (iv) taking reasonable steps to safeguard and protect the Collateral
         until Administrative Agent and the Lenders can make adequate provision
         to protect and safeguard the Collateral, and Designated Companies shall
         not otherwise interfere or encourage others to interfere with the
         Administrative Agent's and the Lenders' enforcement of their rights and
         remedies. In addition, at any time after the Administrative Agent and
         Lenders are entitled to relief from the automatic stay under the
         Financing Order or otherwise, and have elected in accordance with the
         provisions hereof to enforce Administrative Agent's Liens or exercise
         any other default-related remedies, and provided that Administrative
         Agent and the Lenders in their sole discretion have made available to
         the Designated Companies (through additional post-petition loans or by
         consenting to the Designated Companies' use of cash collateral)
         sufficient funds to pay the reasonable and necessary costs thereof, the
         Designated Companies shall, at the written request of the
         Administrative Agent, sell or otherwise dispose of any or all of the
         Collateral on terms and conditions acceptable to Administrative Agent
         and Required Lenders in their sole discretion, and in connection
         thereof to file the appropriate section 363 and related motions and
         obtain approval of the Bankruptcy Court for each such sale or other
         disposition, and shall promptly turn over the proceeds of such sale(s)
         or other disposition(s) to the Administrative Agent for application to
         the Indebtedness in accordance with the provisions of the Loan
         Documents and the Financing Order.

                  (c)      Upon acceleration of the Obligations as provided in
         subsection (a) of this Section 8.2, the Administrative Agent, upon
         request of the Required Lenders, shall have the right to the
         appointment of a receiver for the properties and assets of the Borrower
         and the other Designated Companies, and the Borrower, for itself and on
         behalf of the other Designated Companies, hereby consents to such
         rights and such appointment and hereby waives any objection the
         Borrower or any other Designated Company may have thereto or the right
         to have a bond or other security posted by the Administrative Agent on
         behalf of the Lenders and the L/C Issuer, in connection therewith.

                  (d)      The rights and remedies of the Administrative Agent
         and the Lenders hereunder shall be cumulative, and not exclusive."

         SS.      Section 12.8 of the Pre-Petition Credit Agreement is hereby
amended by inserting therein the following  provision  immediately after the
address block for Bilzin Sumberg Baena Price & Axelrod LLP and before the
paragraph beginning with the words "Each such notice, request or other
communication . . ."

                  "and with a copy to:

                                       32
<PAGE>

                        Squire, Sanders & Dempsey L.L.P
                        312 Walnut Street, Suite 3500
                        Cincinnati, OH  45202
                        Attention: Stephen D. Lerner, Esq.
                        Telephone: (513) 361-1220
                        Facsimile: (513) 361-1201"

         TT.      The Master Corporate Guaranty, dated as of May 14, 2003 (as
amended, restated or otherwise modified from time to time, the "Domestic
Subsidiary Guaranty"), by and among each Designated Company (other than AASI
Canada) and Administrative Agent, is hereby amended by adding the following
sentence to the conclusion of the second paragraph thereof:

                  "Notwithstanding any provision herein to the contrary, the
         Borrower Obligations that are unconditionally guaranteed by each
         Guarantor hereunder shall include, without limitation, any and all DIP
         Indebtedness (as such term is defined in the Credit Agreement) incurred
         by the Borrower pursuant to the terms of the Assumption Agreement (as
         defined in the Credit Agreement) subsequent to the commencement of a
         bankruptcy case under chapter 11 of the Bankruptcy Code (as defined in
         the Credit Agreement). Each Borrower Obligation shall rank pari passu
         with each other Borrower Obligation."

         UU.      The Corporate Guaranty and Covenant, dated as of May 14, 2003
(as amended, restated or otherwise modified from time to time, the "AASI Canada
Guaranty"), by and among AASI Canada and Administrative Agent, is hereby amended
by adding the following sentence to the conclusion of the second paragraph
thereof:

                  "Notwithstanding any provision herein to the contrary, the
         Borrower Obligations that are unconditionally guaranteed by Covenantor
         hereunder shall include, without limitation, any and all DIP
         Indebtedness (as such term is defined in the Credit Agreement) incurred
         by the Borrower pursuant to the terms of the Assumption Agreement (as
         defined in the Credit Agreement) subsequent to the commencement of a
         bankruptcy case under chapter 11 of the Bankruptcy Code (as defined in
         the Credit Agreement). Each Borrower Obligation shall rank pari passu
         with each other Borrower Obligation."

         VV.      The Security Agreement, dated as of May 14, 2003, by and
between the Borrower and the Administrative Agent (as amended, restated or
otherwise modified from time to time, the "Borrower Security Agreement"), is
hereby amended by adding the following new paragraph to the conclusion of
Section 2 thereof:

                  "Borrower hereby confirms its grant to Administrative Agent,
         for the benefit of Administrative Agent, L/C Issuer and the Lenders, of
         a continuing perfected Lien on and security interest in the Collateral
         hereunder and pursuant to the Pre-Petition Credit Documents (as defined
         in the Credit Agreement), as security for the Obligations. Borrower
         further confirms that the security interests granted hereunder and in
         the Pre-Petition Credit Documents extend to all Collateral, whether
         arising or acquired prior to, on or after the Petition Date (as defined
         in the Credit Agreement) and secure all Obligations, whether arising

                                       33
<PAGE>

         prior to, on or after the Petition Date, including, without limitation,
         the DIP Indebtedness (as defined in the Credit Agreement). Furthermore,
         Borrower hereby acknowledges and consents to the grant of all Liens and
         super-priority administrative claims in favor of Administrative Agent,
         for the benefit of itself and the Lenders, pursuant to the Financing
         Order."

         WW.      The Security Agreement, dated as of May 14, 2003, by and among
each Designated Company (other than Borrower) and Administrative Agent (as
amended, restated or otherwise modified from time to time, the "Subsidiary
Security Agreement"), is hereby amended by adding the following new paragraph to
the conclusion of Section 2 thereof:

                  "Each Debtor hereby confirms its grant to Administrative
         Agent, for the benefit of Administrative Agent, L/C Issuer and the
         Lenders, of a continuing perfected Lien on and security interest in
         such Debtor's Collateral hereunder and pursuant to the Pre-Petition
         Credit Documents (as defined in the Credit Agreement), as security for
         the Obligations. Each Debtor further confirms that the security
         interests granted hereunder and in the Pre-Petition Credit Documents
         extend to all such Debtor's Collateral, whether arising or acquired
         prior to, on or after the Petition Date (as defined in the Credit
         Agreement) and secure all Obligations, whether arising prior to, on or
         after the Petition Date, including, without limitation, the DIP
         Indebtedness (as defined in the Credit Agreement). Furthermore, each
         Debtor hereby acknowledges and consents to the grant of all Liens and
         super-priority administrative claims in favor of Administrative Agent,
         for the benefit of itself and the Lenders, pursuant to the Financing
         Order."

         XX.      Section 1 of each Pledge Agreement is hereby amended by adding
the following new paragraph to the conclusion thereof:

                  "Each Pledgor hereby confirms and agrees that the Pledged
         Collateral secures all of the Obligations under the Credit Agreement,
         including, without limitation, all DIP Indebtedness (as defined in the
         Credit Agreement), and hereby grants a first priority Lien on the
         Pledged Collateral to Agent (for the benefit of itself, the L/C Issuer
         and the Lenders) as collateral for all of the Obligations, which Lien
         shall be subject only to the Prior Claims. Each Pledgor's respective
         Subsidiaries whose capital stock and related rights constitute Pledged
         Collateral hereunder hereby confirms and agrees that such Pledged
         Collateral secures all of the Obligations under the Credit Agreement,
         including, without limitation, all DIP Indebtedness, and hereby grants
         a first priority Lien on the Pledged Collateral as collateral for all
         of the Obligations, which Lien shall be subject only to the Prior
         Claims."

II.      Forbearance With Respect to Existing Pre-Petition Defaults.
         ----------------------------------------------------------

                  Nothing in this Amendment or in any of the other DIP Credit
Documents or the Interim Financing Order or the Final Financing Order shall
constitute or be deemed to constitute a waiver by Administrative Agent or any
Lender of: (i) any existing or future Default or Event of Default (including,
without limitation, the Events of Default arising from the commencement of the
Bankruptcy Cases or any other Existing Pre-Petition Default), or (ii) any rights
or remedies of Administrative Agent, L/C Issuer or any Lender under any of the

                                       34
<PAGE>

Loan Documents, applicable law or otherwise against any or all of the Borrower
and each other Designated Company, any other guarantor or obligor with respect
to any Obligations, or any other Person or any of their respective property.
Without prejudice to, or waiver of, (x) the Administrative Agent's, L/C Issuer's
and each Lender's rights and remedies against any or all of the Borrower and
each other Designated Company in respect of any Default or Event of Default
other than the Existing Pre-Petition Defaults, or (y) the Administrative
Agent's, L/C Issuer's and each Lender's rights and remedies against any Person
other than any or all of the Borrower and each other Designated Company,
Administrative Agent, L/C Issuer and each Lender agree to forbear from
foreclosing their respective Liens on any Collateral otherwise taking
enforcement action against any or all of the Borrower and the other Designated
Companies, in each case based solely on the occurrence or continuance of any
Existing Pre-Petition Default; provided, that in all cases such forbearance
shall terminate upon the occurrence of any Event of Default other than an
Existing Pre-Petition Default. Without limiting the generality of the foregoing,
nothing in this Amendment or in any of the DIP Credit Documents or the Interim
Financing Order or the Final Financing Order (x) shall restrict, impair or
otherwise affect the Administrative Agent's and Lenders' respective rights and
remedies under any agreements containing subordination provisions in favor of
any or all of Administrative Agent and Lenders (including, without limitation,
any rights or remedies available to Administrative Agent and Lenders as a result
of the occurrence or continuation of any Existing Pre-Petition Defaults), (y)
shall amend or modify any provision thereof, or (z) shall restrict or otherwise
affect Administrative Agent's rights under Section 4.2 of the Credit Agreement.
All Subordinated Debt shall remain subordinated in right of payment to the
Obligations (including, without limitation, the DIP Indebtedness) owing to the
Administrative Agent and the Lenders to the extent set forth in the agreements
containing the applicable subordination and intercreditor provisions and the
Financing Order.

III.     Ratification of Pre-Petition Credit Documents.
         ---------------------------------------------

                  Each of the Borrower and the other Designated Companies, as
debtors, grantors, pledgors, guarantors, assignors, or in other similar
capacities in which such Persons grant Liens or security interests in their
properties or otherwise act as accommodation parties or guarantors, as the case
may be, (i) hereby acknowledges and consents to each of the terms of the
Amendment, (ii) confirms, ratifies and reaffirms (x) all of its respective
obligations and undertakings under each Loan Document to which it is a party
(including, without limitation, its guaranty of the Obligations), and (y) its
grant of security interests and Liens in all of its properties pursuant to any
such Loan Documents as security for its guaranty of the Obligations and all of
its other obligations and undertakings under the Loan Documents, (iii) agrees
that all such obligations and undertakings and all such security interests and
Liens remain in full force and effect from and after the effectiveness of this
Amendment and applies equally to all Obligations, whether arising before, on or
after the Petition Date, agrees that all Collateral granted by such undersigned
continues to secure the payment and performance of all Obligations, whether
arising before, on or after the Petition Date, and acknowledges and agrees that
there is no defense, setoff or counterclaim of any kind, nature or description
to such obligations and undertakings, (iv) acknowledges and agrees that all
references to the Credit Agreement in any Loan Document shall mean and include
the Credit Agreement as amended and modified by the Amendment, and (v) the
execution of this Amendment shall not operate as a waiver of any right, power or
remedy of the Administrative Agent or Lenders, constitute a waiver of any

                                       35
<PAGE>

provision of any of the Loan Documents or serve to effect a novation of the
Obligations.

IV.      Entire Agreement and Acknowledgements of the Parties. The parties
hereto agree that the amendments set forth in this Amendment, as modified by the
Financing Order, constitute the entire agreement of the parties with respect to
the matters set forth herein, shall be limited precisely as written and shall
not be deemed to be a consent to any waiver, amendment or modification of any
other term or condition of the Credit Agreement or any Loan Documents.

V.       Conditions Precedent. The effectiveness of this Amendment shall be
subject to satisfaction of the following conditions precedent (any one or all of
which may be waived by the Administrative Agent in its sole discretion) (the
date on which all such conditions precedent are satisfied or waived is referred
to as the "Assumption Agreement Effectiveness Date"):

         A.       The Administrative Agent shall have received (i) counterparts
of this Amendment, duly executed and delivered by the Borrower, each other
Designated Company, the Administrative Agent and the Lenders, and (ii) duly
executed originals of each Revolving Note by Borrower to each DIP Lender in the
original principal amount of such DIP Lender's DIP Revolving Credit Commitment,
which Revolving Note shall be substantially in the form attached hereto as
Exhibit A;

         B.       The Bankruptcy Court shall have approved and entered the
Interim Financing Order in a form and in substance satisfactory to
Administrative Agent and the Required Lenders in their sole discretion in the
Bankruptcy Cases;

         C.       The Borrower and the other Designated Companies shall have
executed and delivered to the Administrative Agent all other loan and security
documentation, in form and substance satisfactory to the Administrative Agent
and the Required Lenders, evidencing or otherwise relating to the DIP Financing
and the other transactions contemplated herein;

         D.       The Administrative Agent shall have received satisfactory
corporate resolutions, secretary's certificates and other evidence of
appropriate corporate authorization of the transactions contemplated herein;

         E.       The Borrower shall have paid in immediately available funds
the DIP Commitment Fee, the DIP Agency Fee and all other costs, fees and
expenses then owing to the Administrative Agent and Lenders, including, without
limitation, the reasonable fees and expenses of counsel and financial advisors
retained by, or for the benefit of, the Administrative Agent;

         F.       The Administrative Agent shall have received the Initial
Approved Budget (including all related cash receipt projections and other
back-up documentation) in form and substance satisfactory to Administrative
Agent and the Required Lenders;

         G.       All representations and warranties set forth in the DIP Credit
Documents shall be true and correct in all material respects other than any
breaches of representations and warranties in the Credit Agreement constituting
Existing Pre-Petition Defaults;

                                       36
<PAGE>

         H.       No Default shall have occurred and be continuing other than
the Existing Pre-Petition Defaults;

         I.       All of the "first day" pleadings and proposed forms of orders
filed in the Bankruptcy Cases shall be in form and substance satisfactory to the
Administrative Agent and the Required Lenders;

         J.       The Debtors shall have filed the Sale Motion in form and
substance satisfactory to the Administrative Agent and the Required Lenders; and

         K.       All corporate proceedings taken in connection with the
transactions contemplated by this Amendment and all documents, instruments, and
other legal matters incident thereto shall be satisfactory to Administrative
Agent and its counsel.

VI.      Payment of Administrative Agent's Costs and Expenses. The parties
hereto agree that Section 12.15 of the Pre-Petition Credit Agreement and the
other applicable provisions of the Loan Documents provide that, and, to the
extent necessary, hereby agree to amend Section 12.15 of the Pre-Petition Credit
Agreement and such other applicable provisions of the Loan Documents to provide
that, the Borrower and the other Designated Companies shall be jointly and
severally obligated to promptly pay or reimburse Administrative Agent for all
pre-petition and post-petition fees, costs and expenses (including the
reasonable fees and expenses of all of its counsel, advisors, consultants,
appraisers and auditors) incurred in connection with:

         A.       the negotiation, preparation and filing and/or recordation of
the DIP Credit Documents, the Interim Financing Order and the Final Financing
Order, or the preservation and protection of Administrative Agent's and each
Lender's rights and claims hereunder and thereunder;

         B.       any amendment, modification or waiver of, consent with respect
to, or termination of, any of the DIP Credit Documents or any transactions
contemplated thereby or advice in connection with the administration of the
Loans made pursuant hereto or any rights and remedies of any or all of the
Administrative Agent and Lenders hereunder or thereunder;

         C.       any litigation, contest, dispute, suit, proceeding or action
(whether instituted by Administrative Agent, any Lender, Borrower or any of
other Designated Company, Foreign Debtor or any other Person and whether as a
party, witness or otherwise) in any way relating to the Collateral, any of the
Loan Documents (including, without limitation, the Pre-Petition Credit
Documents) or any other agreement to be executed or delivered in connection
herewith or therewith, including any litigation, contest, dispute, suit, case,
proceeding or action, and any appeal or review thereof (and the filing of any
petition, complaint, answer, motion or other pleading in connection therewith),
in connection with any Bankruptcy Case or any other bankruptcy or other
insolvency proceeding commenced by or against any or all of the Borrower, any
other Designated Company or any other Person that may be obligated to any or all
of the Administrative Agent and Lenders by virtue of the Loan Documents;

         D.       any attempt to enforce any rights or remedies of any or all of
the Administrative Agent and Lenders against any or all of the Borrower, any
other Designated Company or any other Person that may be obligated to
Administrative Agent or any Lender by virtue of any of the Loan Documents,

                                       37
<PAGE>

including, without limitation, the action taken in connection with the
protection, collection, lease, sale, taking possession of, or liquidation of any
of the Collateral or Administrative Agent's and/or any Lender's interest
therein, and any attempt to enforce any security interest in any of the
Collateral;

         E.       the obtaining of approval or entry by the Bankruptcy Court of
any or all of the Interim Financing Order, the Final Financing Order, the
Bidding Procedures Order, the Sale Order and the DIP Credit Documents;

         F.       the preparation and review of pleadings, documents and reports
related to any Bankruptcy Case and any subsequent case under chapter 7 of the
Bankruptcy Code, attendance at meetings, court hearings or conferences related
to any Bankruptcy Case and any subsequent case under chapter 7 of the Bankruptcy
Code, and general monitoring of any Bankruptcy Case and any subsequent case
under chapter 7 of the Bankruptcy Code;

         G.       efforts to (i) monitor the Loans or any of the other
Obligations, (ii) evaluate, observe or assess any of the Borrower, any other
Designated Company or their respective affairs, (iii) collect any or all of the
Obligations, and (iv) verify, protect, evaluate, assess, appraise, collect,
sell, liquidate or otherwise dispose of any of the Collateral; and

         H.       the rendering of any advice with respect to any of the
foregoing.

                  The Borrower's and each other Designated Company's respective
reimbursement obligations as set forth above shall include all reasonable
attorneys' fees and expenses and other reasonable professional and service
providers' fees and expenses arising from any of the services described above
and other advice, assistance or other representation, including those in
connection with any appellate proceedings, and all expenses, costs, charges and
other fees incurred by such counsel and others in connection with or relating to
any of the events or actions described in this section, all of which shall be
jointly and severally payable, on demand, by the Borrower and each other
Designated Company to Administrative Agent. Without limiting the generality of
the foregoing, such expenses, costs, charges and fees may include: reasonable
fees, costs and expenses of accountants, environmental advisors, appraisers,
investment bankers, management and other consultants and paralegals; court costs
and expenses; photocopying and duplication expenses; court reporter fees, costs
and expenses; long distance telephone charges; air express charges; telegram or
telecopy charges; secretarial overtime charges; and expenses for travel, lodging
and food paid or incurred in connection with the performance of such legal or
other advisory services.

VII.     References in Loan Documents. All references to any Pre-Petition Credit
Document shall be deemed to be a reference to same as amended hereby.

VIII.    Miscellaneous.
         -------------

         A.       To induce Administrative Agent and each Lender to enter into
this Amendment, each of the Borrower and each other Designated Company signatory
hereto hereby represents and warrants to each of the Administrative Agent and
the Lenders that (i) the Borrower and each other Designated Company has full
power and authority to enter into this Amendment, that this Amendment has been
duly authorized, executed and delivered by the Borrower and each other

                                       38
<PAGE>

Designated Company and that this Amendment constitutes a legal, valid and
binding obligation of Borrower and each other Designated Company enforceable
against such Person in accordance with its terms and (ii) no event has occurred
since the Petition Date which has or could have a Material Adverse Effect.

         B.       This Amendment may be executed in any number of counterparts,
each of which when so executed shall be deemed an original, but all such
counterparts shall constitute one and the same instrument, and all signatures
need not appear on any one counterpart. Any party hereto may execute and deliver
a counterpart of this Amendment by delivering by facsimile or other electronic
transmission a signature page of this Amendment signed by such party, and any
such facsimile or other electronic signature shall be treated in all respects as
having the same effect as an original signature. Any party delivering by
facsimile or other electronic transmission a counterpart executed by it shall
promptly thereafter also deliver a manually signed counterpart of this Amendment
to Administrative Agent.

         C.       It is the parties' intention that this Amendment be
interpreted in such a way that it is valid and effective under applicable law;
provided, however, the invalidity, illegality, or unenforceability of any
provision in or obligation under this Amendment in any jurisdiction shall not
affect or impair the validity, legality, or enforceability of the remaining
provisions or obligations under this Amendment or of such provision or
obligation in any other jurisdiction.

         D.       This Amendment, the Credit Agreement, the other Loan
Documents, and all Liens and other rights and privileges created hereby or
pursuant hereto or to any other Loan Document shall be binding upon Borrower and
the other Designated Companies, and their respective estates, and, in the case
of the Debtors, any trustee, other estate representative or any successor in
interest of any Debtor in any Bankruptcy Case or any subsequent case commenced
under chapter 7 of the Bankruptcy Code, and shall not be subject to section 365
of the Bankruptcy Code. This Amendment, the Credit Agreement and the other Loan
Documents shall be binding upon, and inure to the benefit of, the successors of
the Administrative Agent, Co-Administrative Agent, L/C Issuer and the Lenders
and their respective assigns, transferees and endorsees. The Liens created by
this Amendment, the Credit Agreement and the other Loan Documents shall be and
remain valid and perfected in the event of the substantive consolidation or
conversion of any Bankruptcy Case or any other bankruptcy case of Borrower or
any other Designated Company thereof to a case under chapter 7 of the Bankruptcy
Code or in the event of dismissal of any Bankruptcy 11 Case or the release of
any Collateral from the jurisdiction of the Bankruptcy Court for any reason,
without the necessity that Administrative Agent file financing statements or
otherwise perfect its Liens under applicable law. Neither Borrower nor any other
Designated Company may assign, transfer, hypothecate or otherwise convey its
rights, benefits, obligations or duties hereunder or under any of the other Loan
Documents without the prior express written consent of the Administrative Agent
acting at the direction of the Required Lenders. Any such purported assignment,
transfer, hypothecation or other conveyance by Borrower or any other Designated
Company without the prior express written consent of the Administrative Agent
acting at the direction of the Required Lenders shall be void. The terms and
provisions of this Amendment, the Credit Agreement and the other Loan Documents
are for the purpose of defining the relative rights and obligations of Borrower,
the other Designated Companies, the Administrative Agent, the L/C Issuer and
Lenders with respect to the transactions contemplated hereby and thereby and no
Person (not a signatory thereto) shall be a third party beneficiary of any of

                                       39
<PAGE>

the terms and provisions of this Amendment, the Credit Agreement or any of the
other Loan Documents.

IX.      Conflict with Financing Order. Solely to the extent of any direct and
irreconcilable conflict between this Amendment and the Financing Order, the
conflicting term of the Financing Order shall govern and control.

X.       Choice of Law and Jurisdiction. To the extent not governed by the
provisions of the Bankruptcy Code, any dispute between any or all of the
Borrower, the other Designated Companies, the Administrative Agent, the L/C
Issuer and the Lenders and arising out of, connected with, related to, or
incidental to the relationship established between them in connection with this
Amendment, and whether arising in contract, tort, equity or otherwise, shall be
resolved in accordance with the internal laws and not the conflicts of law
provisions of the State of Illinois.

XI.      Waiver of Jury Trial. THE PARTIES HERETO WAIVE ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN CONNECTION
WITH THIS AMENDMENT OR ANY MATTER ARISING HEREUNDER.

                            [Signature Pages Follow]

                                       40
<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Amendment or caused it
to be executed by their duly authorized officers, all as of the day and year
first above written.

BORROWER AND OTHER             ALL AMERICAN SEMICONDUCTOR, INC.,
DESIGNATED COMPANIES:          a Delaware corporation, as the Borrower

                               By: /s/ BRUCE M. GOLDBERG
                                   ---------------------

                               Its: President
                                    ---------------------------------------

                               Access Micro Products, Inc.
                               All American A.V.E.D., Inc.
                               All American Added Value, Inc.
                               All American Semiconductor of Atlanta, Inc.
                               All American Semiconductor of Chicago, Inc.
                               All American Semiconductor of Florida, Inc.
                               All American Semiconductor of Huntsville, Inc.
                               All American Semiconductor of Massachusetts, Inc.
                               All American Semiconductor of Michigan, Inc.
                               All American Semiconductor of Minnesota, Inc.
                               All American Semiconductor of New York, Inc.
                               All American Semiconductor of Philadelphia, Inc.
                               All American Semiconductor of Phoenix, Inc.
                               All American Semiconductor of Portland, Inc.
                               All American Semiconductor of Rockville, Inc.
                               All American Semiconductor of Salt Lake, Inc.
                               All American Semiconductor of Texas, Inc.
                               All American Semiconductor-Northern California,
                               Inc.
                               All American Semiconductor of Washington, Inc.
                               All American Technologies, Inc.
                               All American Transistor of California, Inc.
                               Aved Industries, Inc.
                               Palm Electronics Manufacturing Corp.
                               All American Semiconductor of Ohio, Inc.
                               All American Semiconductor of Wisconsin, Inc.
                               All American Semiconductor of Rhode Island, Inc.
                               All American IDT, Inc.
                               AGD China, Inc., each as a Designated Company

                               By: /s/ BRUCE M. GOLDBERG
                                   ----------------------------------------

                               Its: President
                                    ---------------------------------------

         [Signature page to Assumption Agreement and Seventh Amendment]

                                       41
<PAGE>

                               AMERICAPITAL, LLC, as a Designated Company

                               By:    All American Semiconductor, Inc.,
                                      its sole member

                               By: /s/ BRUCE M. GOLDBERG
                                   ----------------------------------------

                               Its: President
                                    ---------------------------------------

                               ALL AMERICAN SEMICONDUCTOR OF
                               CANADA, INC., as a Designated Company

                               By: /s/ BRUCE M. GOLDBERG
                                   ----------------------------------------

                               Its: President
                                    ---------------------------------------

         [Signature page to Assumption Agreement and Seventh Amendment]

                                       42
<PAGE>

IN WITNESS WHEREOF, the parties hereto have executed this Amendment or caused it
to be executed by their duly authorized officers, all as of the day and year
first above written.

LENDERS:                       HARRIS N.A., successor by merger to
                                HARRIS TRUST AND SAVINGS BANK,
                                as Administrative Agent, L/C Issuer and a Lender

                               By: /s/ LAWRENCE A. MIZERA
                                   ------------------------------------------
                               Name:  Lawrence A. Mizera
                                      ---------------------------------------
                               Title: Vice President
                                      ---------------------------------------

                               U.S. BANK NATIONAL ASSOCIATION,
                                 as Co-Administrative Agent and as a Lender

                               By: /s/ ROBERT F. POLK
                                   ------------------------------------------
                               Name:  Robert F. Polk
                                      ---------------------------------------
                               Title: Senior Vice President
                                      ---------------------------------------

                               GMAC COMMERCIAL FINANCE LLC,
                                 as a Lender

                               By: /s/ DOUG BOOTHE
                                   ------------------------------------------
                               Name:  Doug Boothe
                                      ---------------------------------------
                               Title: Director
                                      ---------------------------------------

                               PNC BANK, NATIONAL ASSOCIATION,
                                 as a Lender

                               By: /s/ BRUCE METTEL
                                   ------------------------------------------
                               Name:  Bruce Mettel
                                      ---------------------------------------
                               Title: Vice President
                                      ---------------------------------------

                               FIRST BANK BUSINESS CAPITAL, INC.
                                 f/k/a FB Commercial Finance, Inc., as a Lender

                               By: /s/ WALTER CASTILLO
                                   ------------------------------------------
                               Name:  Walter Castillo
                                      ---------------------------------------
                               Title: Vice President
                                      ---------------------------------------

         [Signature page to Assumption Agreement and Seventh Amendment]

                                       43
<PAGE>

                       SCHEDULE 1 TO ASSUMPTION AGREEMENT
                       ----------------------------------

DIP Revolving Credit Commitments and Revolver Percentages for DIP Revolving
---------------------------------------------------------------------------
Loans
-----

DIP Lender                DIP Revolving Credit Commitment    Revolver Percentage
----------                -------------------------------    -------------------

Harris N.A.               $6,250,000                         25%

U.S. Bank National        $5,000,000                         20%
Association

GMAC Commercial           $5,000,000                         20%
Finance LLC

PNC Bank, National        $5,000,000                         20%
Association

First Bank Business       $3,750,000                         15%
Capital, Inc.

                                       44
<PAGE>

                                   EXHIBIT "A"

                                 REVOLVING NOTE

$                                                                 April 25, 2007

         FOR VALUE RECEIVED, the undersigned, ALL AMERICAN SEMICONDUCTOR, INC.,
a Delaware corporation (the "Borrower"), hereby promises to pay to the order of
_______________ (the "Lender") on the Termination Date of the hereinafter
defined Credit Agreement, at the principal office of Harris N.A., successor by
merger to Harris Trust and Savings Bank ("Harris"), as administrative agent for
the Lenders (in such capacity, the "Administrative Agent"), in Chicago,
Illinois, in immediately available funds, the principal sum of _____________
Dollars ($___________) or, if less, the aggregate unpaid principal amount of all
DIP Revolving Loans made by the Lender to the Borrower pursuant to the Credit
Agreement (as defined below), together with interest on the principal amount of
each DIP Revolving Loan from time to time outstanding hereunder at the rates,
and payable in the manner and on the dates, specified in the Credit Agreement
(as defined below).

         This Note is one of the Revolving Notes referred to in that certain
Credit Agreement, dated as of May 14, 2003 (as amended, restated or otherwise
modified from time to time, including, without limitation, pursuant to that
certain Assumption Agreement and Seventh Amendment to Credit Agreement and Other
Loan Documents, dated as of April 25, 2007, the "Credit Agreement;" capitalized
terms used but not defined herein shall have the respective meanings ascribed to
such terms in the Credit Agreement), by and among Administrative Agent,
[Lender], as Co-Administrative Agent, and the Lenders, and this Note and the
holder hereof are entitled to all the benefits and security provided for thereby
or referred to therein, to which Credit Agreement reference is hereby made for a
statement thereof. To the extent not governed by the provisions of the
Bankruptcy Code, this Note shall be governed by and construed in accordance with
the internal laws of the State of Illinois. This Note shall be subject to the
terms of the Financing Order.

         Voluntary prepayments may be made hereon without penalty or charge
except as provided in the Credit Agreement, certain prepayments are required to
be made hereon, and this Note may be declared due prior to the expressed
maturity hereof, all in the events, on the terms and in the manner as provided
for in the Credit Agreement.

         The Borrower hereby waives demand, presentment, protest or notice of
any kind hereunder.

                                       ALL AMERICAN SEMICONDUCTOR, INC.

                                       By:______________________________________

                                       Name:____________________________________

                                       Title:___________________________________

<PAGE>

                                   EXHIBIT "B"

                                 REVOLVING NOTE
$_________________                                                 May 14, 2003

         FOR VALUE RECEIVED, the undersigned, ALL AMERICAN SEMICONDUCTOR, INC.,
a Delaware corporation (the "Borrower"), hereby promises to pay to the order of
____________________ (the "Lender") on the Termination Date of the hereinafter
defined Credit Agreement, at the principal office of Harris Trust and Savings
Bank, as Administrative Agent, in Chicago, Illinois, in immediately available
funds, the principal sum of ___________________ Dollars ($__________) or, if
less, the aggregate unpaid principal amount of all Revolving Loans made by the
Lender to the Borrower pursuant to the Credit Agreement, together with interest
on the principal amount of each Revolving Loan from time to time outstanding
hereunder at the rates, and payable in the manner and on the dates, specified in
the Credit Agreement.

         This Note is one of the Revolving Notes referred to in the Credit
Agreement dated as of May 14, 2003, among the Borrower, Harris Trust and Savings
Bank, as Administrative Agent, and U.S. Bank National Association, as Co-Agent
and the Lenders party thereto (the "Credit Agreement"), and this Note and the
holder hereof are entitled to all the benefits and security provided for thereby
or referred to therein, to which Credit Agreement reference is hereby made for a
statement thereof. All defined terms used in this Note, except terms otherwise
defined herein, shall have the same meaning as in the Credit Agreement. This
Note shall be governed by and construed in accordance with the internal laws of
the State of Illinois.

         Voluntary prepayments may be made hereon without penalty or charge
except as provided in the Credit Agreement, certain prepayments are required to
be made hereon, and this Note may be declared due prior to the expressed
maturity hereof, all in the events, on the terms and in the manner as provided
for in the Credit Agreement.

         The Borrower hereby waives demand, presentment, protest or notice of
any kind hereunder.

                                       ALL AMERICAN SEMICONDUCTOR, INC.

                                       By:______________________________________

                                       Name:____________________________________

                                       Title:___________________________________

<PAGE>

                                   EXHIBIT "C"

                           BORROWING BASE CERTIFICATE

HARRIS TRUST &
SAVINGS BANK                            BORROWING BASE CERTIFICATE
REPORT NUMBER _______________________   DATE

All American Semiconductor, Inc.
TOTAL APPROVED LINE                     Maximum Inventory Loan
    ACCOUNTS RECEIVABLE UPDATE                         COLLATERAL STATUS
     Period Covered:
ADDITIONS:
                                                              As of Date:

(A) New Sales (See Attached)            (1)  Previous Coll. Balance
(B) Miscellaneous (+)                   (2)  Total Additions
Total Gross Additions (2)               (3)  Collections/Deductions
                                        (4)  New Collateral Balance

DEDUCTIONS:
(A) Collections (See Attached)          (5)  Less Ineligibles
(B) Discounts Allowed                   (6)  Eligible Collateral
(C) Credit Memos                        (7)  Rate of Advance
(D) Miscellaneous
(-)              Non A/R                (8)  Available A/R            (A)
Total Gross Collections (3)             (9)  Avail Inv. (Per Attached)(B)
       LOAN BALANCE UPDATE              (10) Other Loan Value         (C)
Loan Outstanding as of:                 (11) Total Loan Value
From Previous Report #                       A/R + Inv. + Other:
                                                 A + B + C
Less Collections
                                        (12) Maximum Borrowing Limit
Additional Advance Requested                 Lessor of Total Loan Value
                                                        or
New Loan Balance This Report                 Total Approved Rev. Line
Plus L/C or Other Reserves              (13) Less Total Loans and
                                             Other Liabilities
Total Loans and Other
  Liabilities                           (14) New Availability
(Carry to Line 13)

Pursuant to the Terms of the Credit Agreement dated as of May 14, 2003 between
us (the "Credit Agreement), we submit this Borrowing Base to you and certify
that the information set forth above and on any attachments to this certificate
is true, correct and complete as of the date of this certificate.

                                     Borrower:
                                     Authorized Signer:

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