Document:

Second Amended and Restated Term Promissory Note

 Exhibit 10.3 
  
 SECOND AMENDED AND RESTATED 
 TERM PROMISSORY NOTE 
  

			
	 $8,456,000
	 	New York, New York
	 	 	January 27, 2005

  
 FOR VALUE RECEIVED,
LEXINGTON RUBBER GROUP, INC., a Delaware corporation (the “Debtor”), hereby unconditionally promises to pay to the order of WACHOVIA BANK, NATIONAL ASSOCIATION (as successor by merger to Congress Financial Corporation), a national banking
association, in its capacity as agent pursuant to the Loan Agreement (as hereinafter defined) acting for and on behalf of the parties to the Loan Agreement as lenders (in such capacity, “Payee”), at the offices of Payee at 1133 Avenue of
the Americas, New York, New York 10036, or at such other place as the Payee or any holder hereof may from time to time designate, the principal sum of EIGHT MILLION FOUR HUNDRED FIFTY SIX THOUSAND AND 00/100 DOLLARS ($8,456,000) in lawful money of
the United States of America and in immediately available funds, in seventeen (17) consecutive monthly installments (or earlier as provided herein), of which the first sixteen (16) installments shall payable on the first day of each month commencing
March 1, 2005 and shall be in the amount of ONE HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS ($150,000), and the last installment due on June 30, 2006, shall be in the amount of the entire unpaid balance of this Note. 
  
 Debtor hereby further promises to pay interest to the order of Payee on the
unpaid principal balance hereof at the Interest Rate. Such interest shall be paid in like money at said office or place from the date hereof, commencing February 1, 2005 and on the first day of each month thereafter until the indebtedness evidenced
by this Note is paid in full. Interest payable upon and after an Event of Default or termination or non-renewal of the Loan Agreement shall be payable upon demand. 
  
 For purposes hereof, (v) subject to clause (i) below, the term “Interest Rate” shall mean, a rate equal to four
and three quarters(4 3/4%) percent per annum in excess of the Prime Rate (determined as provided in the Loan
Agreement); provided, that, (i) notwithstanding anything to the contrary contained above, the Interest Rate shall mean the rate of six and three-quarters (6 3/4%) percent per annum in excess of the Prime Rate, at Payee’s option, without notice, (A) either (1) for the period on and after the date of termination or non-renewal hereof
until such time as all Obligations are indefeasibly paid and satisfied in full in immediately available funds, or (2) for the period from and after the date of the occurrence of any Event of Default, and for so long as such Event of Default is
continuing as determined by Payee, (vi) the term “Prime Rate” shall mean the rate from time to time publicly announced by Wachovia Bank, National Association, or its successors, as its prime rate, whether or not such announced rate is the
best rate available at such bank, (vii) the term “Event of Default” shall mean an Event of Default as such term is defined in the Loan Agreement, and (viii) the term “Loan Agreement” shall mean the Amended and Restated Loan and
Security Agreement, dated of even date herewith, by and among Payee, the lenders party thereto, Debtor and Lexington Precision Corporation, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or
replaced. Unless otherwise defined herein, all capitalized terms used herein shall 

 
have the meaning assigned thereto in the Loan Agreement. 
  
 The Interest Rate applicable to the Term Loans payable hereunder shall increase or decrease as to by an amount equal to each increase or decrease,
respectively, in the Prime Rate, effective on the first day of the month after any change in the Prime Rate is announced. The increase or decrease shall be based on the Prime Rate in effect on the last day of the month in which any such change
occurs. Interest shall be calculated on the basis of a three hundred sixty (360) day year and actual days elapsed. In no event shall the interest charged hereunder exceed the maximum permitted under the laws of the State of New York or other
applicable law. 
  
 This Note is issued pursuant to the terms and
provisions of the Loan Agreement to evidence the LRG Term Loan made by Payee to Debtor and to amend and restate the Existing LRG Term Notes, and as so amended and restated, the Existing LRG Term Notes are replaced and superseded by this Note in
their entirety. Debtor is, as of the date hereof, indebted to Payee in the principal amount of this Note, together with interest accruing after the date hereof, without offset, defense or counterclaim of any kind, nature or description whatsoever.
The substitution and replacement of the Existing LRG Term Notes shall not, in any manner, be construed to constitute payment of the unpaid indebtedness and other obligations and liabilities of Debtor evidenced by or arising under the Existing LRG
Term Notes. 
  
 This Note is secured by the Collateral described
in the Loan Agreement and the other Financing Agreements, and is entitled to all of the benefits and rights thereof and of the other Financing Agreements. At the time any payment is due hereunder, at its option, Payee may charge the amount thereof
to any account of Debtor maintained by Payee. 
  
 If any payment
of principal or interest is not made when due hereunder, or if any other Event of Default shall occur for any reason, or if the Loan Agreement shall be terminated or not renewed for any reason whatsoever, then and in any such event, in addition to
all rights and remedies of Payee under the Financing Agreements, applicable law or otherwise, all such rights and remedies being cumulative, not exclusive and enforceable alternatively, successively and concurrently, Payee may, at its option,
declare any or all of Debtor’s Obligations, including, without limitation, all amounts owing under this Note, to be due and payable in accordance with the terms of the Loan Agreement, whereupon the then unpaid balance hereof, together with all
interest accrued thereon, shall forthwith become due and payable, together with interest accruing thereafter at the then applicable Interest Rate stated above until the Obligations are paid in full. 
  
 Debtor (i) waives diligence, demand, presentment, protest and notice (except
as otherwise expressly provided in Section 10.2 of the Loan Agreement) of any kind, (ii) agrees that it will not be necessary for Payee to first institute suit in order to enforce payment of this Note and (iii) consents to any one or more extensions
or postponements of time of payment, release, surrender or substitution of collateral security, or forbearance or other indulgence, without notice or consent. The pleading of any statute of limitations as a defense to any demand against Debtor is
expressly hereby waived by Debtor. Upon any Event of Default or termination or non-renewal of the Loan Agreement, Payee shall have the right, but not the obligation to setoff against this Note all money owed by Payee to Debtor. 
  
 Payee shall not be required to resort to any Collateral for payment, but may
proceed against Debtor and any guarantors or endorsers hereof in such order and manner (as is consistent with the terms of the Loan Agreement) as Payee may choose. None of the rights of Payee shall 

  

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be waived or diminished by any failure or delay in the exercise thereof. 
  
 The validity, interpretation and enforcement of this Note and the other Financing Agreements and any dispute arising in
connection herewith or therewith shall be governed by the internal laws of the State of New York, but excluding any principles of conflicts of law or other rule of law that would result in the application of the law of any jurisdiction other than
the laws of the State of New York. 
  
 Debtor irrevocably consents
and submits to the non-exclusive jurisdiction of the Supreme Court of the State of New York for New York County and the United States District Court for the Southern District of New York, whichever Payee may elect, and waives any objection based on
venue or forum non conveniens with respect to any action instituted therein arising under this Note or any of the other Financing Agreements or in any way connection with or related or incidental to the dealings of Debtor and
Payee in respect of this Note or any of the other Financing Agreements or the transactions related hereto or thereto, in each case whether now existing or hereafter arising, and whether in contract, tort, equity or otherwise, and agrees that any
dispute arising out of the relationship between Debtor and Payee or the conduct of such persons in connection with this Note or otherwise shall be heard only in the courts described above (except that Payee shall have the right to bring any action
or proceeding against Debtor or its property in the courts of any other jurisdiction which Payee deems necessary or appropriate in order to realize on the Collateral or to otherwise enforce its rights against Debtor or its property). 
  
 Debtor hereby waives personal service of any and all process upon it and
consents that all such service of process may be made by certified mail (return receipt requested) directed to it and service so made shall be deemed to be completed five (5) days after the same shall have been so deposited in the U.S. mails, or, at
Payee’s option, by service upon Debtor in any other manner provided under the rules of any such courts. Within thirty (30) days after such service, Debtor shall appear in answer to such process, failing which Debtor shall be deemed in default
and judgment may be entered by Payee against Debtor for the amount of the claim and other relief requested. 
  
 DEBTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (i) ARISING UNDER THIS NOTE OR (ii) IN ANY WAY CONNECTED
WITH OR RELATED OR INCIDENTAL TO THE DEALINGS BETWEEN DEBTOR AND PAYEE IN RESPECT OF THIS NOTE OR ANY OF THE OTHER FINANCING AGREEMENTS OR THE TRANSACTIONS RELATED HERETO OR THERETO IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER
IN CONTRACT, TORT, EQUITY OR OTHERWISE. DEBTOR AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY. 
  

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 This Note shall be binding upon the successors and assigns of Debtor and inure to the benefit of Payee
and its successors, endorsees and assigns. Whenever used herein, the term “Debtor” shall be deemed to include its successors and assigns and the term “Payee” shall be deemed to include its successors, endorsees and assigns. If
any term or provision of this Note shall be held invalid, illegal or unenforceable, the validity of all other terms and provisions hereof shall in no way be affected thereby. 
  

			
	 LEXINGTON RUBBER GROUP, INC.

		
	 By:
	 	 /s/ Michael A. Lubin

	 Title:
	 	 Chairman of the Board

  
  

 - 4 -Amendment No. 4 to Loan and Security Agreement

 Exhibit 10.4 
  
 AMENDMENT NO. 4 TO 
 LOAN AND SECURITY AGREEMENT 
  
 AMENDMENT NO. 4 TO
LOAN AND SECURITY AGREEMENT (this “Fourth Amendment”) dated as of January 27, 2005 by and among Lexington Precision Corporation, a Delaware corporation (“LPC”) and Lexington Rubber Group, Inc., a Delaware
corporation (“LRG”, and together with LPC, each, individually, a “Borrower” and collectively, “Borrowers”), the lenders party to the Loan Agreement (as hereinafter defined) (each individually, a
“Lender” and collectively, “Lenders”) and Ableco Finance LLC, a Delaware limited liability company, in its capacity as agent for Lenders (in such capacity, “Agent”). 
  
 WITNESSETH 
  
 WHEREAS, Borrowers, Agent and Lenders have entered into financing
arrangements pursuant to which Lenders have made loans to Borrowers as set forth in the Loan and Security Agreement, dated December 18, 2003, by and among Borrowers, Agent and Lenders (as heretofore amended or otherwise modified, as amended hereby,
and as the same may hereafter be further amended, modified, supplemented, extended, renewed, restated or replaced, the “Loan Agreement”) and the other agreements, documents and instruments referred to therein or at any time executed
and/or delivered in connection therewith or related thereto, including this Fourth Amendment (all of the foregoing, including the Loan Agreement, as the same now exist or may hereafter be further amended, modified, supplemented, extended, renewed,
restated or replaced, being collectively referred to herein as the “Financing Agreements”); and 
  
 WHEREAS, Borrowers have requested that Agent and Lenders agree to certain amendments to the Loan Agreement and Agent and Lenders are willing to agree to
the requested amendments, subject to the terms and conditions contained herein. 
  
 NOW, THEREFORE, in consideration of the mutual conditions and agreements and covenants set forth herein, and for other good and valuable consideration, the adequacy and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows: 
  
 Section 1.
Definitions. 
  
 1.1. Defined Terms. For purposes
of this Fourth Amendment, unless otherwise defined herein, all terms used herein, including, but not limited to, those terms used and/or defined in the recitals above, shall have the respective meanings assigned to such terms in the Loan Agreement.

  
 1.2. Additional Definitions. As used herein, the
following terms shall have the respective meanings given to them below and the Loan Agreement shall be deemed and is hereby amended to include, in addition and not in limitation, each of the following definitions: 
  
 (a) “Fourth Amendment” shall mean Amendment No. 4 to Loan and
Security Agreement, dated as of January 27, 2005, by and among the Borrowers, the Agent and the Lenders. 

 (b) “Fourth Amendment Effective Date” shall mean the date the Fourth Amendment becomes
effective. 
  
 Section 2. Amendments to the Loan Agreement.

  
 2.1. Borrowing Base. The definition of the term
“Borrowing Base” set forth in Section 1.14 of the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “1.14 “Borrowing Base” shall mean the term “Borrowing Base” as defined, together with the terms used therein, in
the Working Capital Loan Agreement as in effect on the Fourth Amendment Effective Date.” 
  
 2.2. Excess Availability. The definition of the term “Excess Availability” set forth in Section 1.40 of the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “1.40 “Excess Availability” shall mean the
term “Excess Availability” as defined in the Working Capital Loan Agreement as in effect on the Fourth Amendment Effective Date.” 
  
 2.3. Reserves. The definition of the term “Reserves” set forth in Section 1.100 of the Loan Agreement is hereby amended in its entirety
to read as follows: 
  
 “1.100
“Reserves” shall mean the term “Reserves” as defined in the Working Capital Loan Agreement as in effect on the Fourth Amendment Effective Date.” 
  
 2.4. Special Reserve. The definition of the term “Special Reserve” set forth in Section 1.107 of the Loan
Agreement is hereby amended in its entirety to read as follows: 
  
 “1.107 “Special Reserve” shall mean the term “Special Reserve” as defined in the Working Capital Loan Agreement as in effect on the Fourth Amendment Effective Date.” 
  
 2.5. WC Term Loans. The definition of the term “WC Term
Loans” set forth in Section 1.113 of the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “1.113 “WC Term Loans” shall mean the term “Term Loans” as defined in the Working Capital Loan Agreement as in
effect on the Fourth Amendment Effective Date.” 
  
 2.6.
Indebtedness. Clause (i) of Section 9.9(e) of the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “(i) the principal amount of such Indebtedness shall not exceed the sum of (A) the lesser of (1) $20,000,000 and (2) 100% of the
Borrowing Base, plus (B) the Term Loans (as defined in the Working Capital Loan Agreement as in effect on the Fourth Amendment Effective Date) in an amount equal to $11,400,000 as reduced from time to time by the principal payments and
prepayments thereof, whether optional or mandatory;” 
  

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 2.7. Financial Covenants. 
  
 (a) Section 9.17 of the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “9.17 Leverage Ratio. Borrowers and their
Subsidiaries, on a consolidated basis, shall, not permit the ratio of consolidated secured Indebtedness (including letters of credit) to consolidated EBITDA as of the end of each trailing twelve month period of Borrowers and their Subsidiaries for
which the last month ends on a date set forth below to be greater than the applicable ratio set forth below: 
  

			
	 Leverage Ratio

	    	 Applicable Period

	3.35:1.00	    	 For the trailing twelve months ending December 31, 2003

	3.35:1.00	    	 For the trailing twelve months ending January 31, 2004

	3.35:1.00	    	 For the trailing twelve months ending February 29, 2004

	3.35:1.00	    	 For the trailing twelve months ending March 31, 2004

	3.35:1.00	    	 For the trailing twelve months ending April 30, 2004

	3.35:1.00	    	 For the trailing twelve months ending May 31, 2004

	3.50:1.00	    	 For the trailing twelve months ending June 30, 2004

	3.50:1:00	    	 For the trailing twelve months ending July 31, 2004

	3.50:1.00	    	 For the trailing twelve months ending August 31, 2004

	3.50:1.00	    	 For the trailing twelve months ending September 30, 2004

	3.25:1.00	    	 For the trailing twelve months ending October 31, 2004

	3.25:1.00	    	 For the trailing twelve months ending November 30, 2004

	3.35:1.00	    	 For the trailing twelve months ending December 31, 2004

	3.35:1.00	    	 For the trailing twelve months ending January 31, 2005

	3.35:1.00	    	 For the trailing twelve months ending February 28, 2005

	3.35:1.00	    	 For the trailing twelve months ending March 31, 2005

	3.25:1.00	    	 For the trailing twelve months ending April 30, 2005

	3.10:1.00	    	 For the trailing twelve months 

  

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	 Leverage Ratio

	    	 Applicable Period

	 	    	 ending May 31, 2005

	3.00:1.00	    	 For the trailing twelve months ending June 30, 2005

	2.75:1.00	    	 For the trailing twelve months ending July 31, 2005

	2.50:1.00	    	 For each trailing twelve months period ending on the last day of each calendar month thereafter”

  
 (b) As of December 1,
2004, Section 9.18 of the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “9.18 Minimum EBITDA . (a) Borrowers and their Subsidiaries, on a consolidated basis, shall, at all times have, and shall
maintain, EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period set forth opposite thereto: 
  

				
	Applicable Amount

	  	 Applicable Period

	$	10,000,000	  	 For the trailing twelve months ending December 31, 2003

	$	10,000,000	  	 For the trailing twelve months ending March 31, 2004

	$	12,000,000	  	 For the trailing twelve months ending June 30, 2004

	$	12,500,000	  	 For the trailing twelve months ending September 30, 2004

	$	11,500,000	  	 For the trailing twelve months ending December 31, 2004

	$	11,500,000	  	 For the trailing twelve months ending March 31, 2005

	$	13,000,000	  	 For the trailing twelve months ending June 30, 2005

	$	14,500,000	  	 For the trailing twelve months ending September 30, 2005

	$	16,000,000	  	 For each trailing twelve months period ending on the last day of each quarter thereafter

  
 (b)
Borrowers and their Subsidiaries, on a consolidated basis, shall, at all times have, and shall maintain, Rubber Group EBITDA, measured on a quarter-end basis, of at least the required amount set forth in the following table for the applicable period
set forth opposite thereto: 
  

				
	Applicable Amount

	  	 Applicable Period

	$	3,250,000	  	 For the three month period ending September 30, 2004

  

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	Applicable Amount

	  	 Applicable Period

	$	5,000,000	  	 For the six month period ending December 31, 2004

	$	9,500,000	  	 For the nine month period ending March 31, 2005

	$	13,500,000	  	 For the trailing twelve months ending June 30, 2005

	$	15,000,000	  	 For the trailing twelve months ending September 30, 2005

	$	16,000,000	  	 For the trailing twelve months ending December 31, 2005

	$	16,000,000	  	 For each trailing twelve months period ending on the last day of each quarter thereafter”

  
 (c) Section 9.19 of
the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “9.19 Fixed Charge Coverage Ratio . Borrowers and their Subsidiaries, on a consolidated basis, shall, at all times have, and shall maintain, a Fixed Charge Coverage Ratio, measured on a quarter-end basis,
of at least the required amount set forth in the following table for the applicable period set forth opposite thereto: 
  

			
	Fixed Charge Coverage
Ratio

	  	 Applicable Period

	0.50:1.00	  	 For the three months ending December 31, 2003

	0.85:1.00	  	 For the three months ending March 31, 2004

	0.45:1.00	  	 For the six months ending June 30, 2004

	0.45:1.00	  	 For the nine months ending September 30, 2004

	0.55:1.00	  	 For the twelve months ending December 31, 2004

	0.60:1.00	  	 For the trailing twelve months ending March 31, 2005

	0.80:1.00	  	 For the trailing twelve months ending June 30, 2005

	0.90:1.00	  	 For the trailing twelve months ending September 30, 2005

	0.95:1.00	  	 For the trailing twelve months ending December 31, 2005

	1.00:1.00	  	 For each trailing twelve months period ending on the last day of each quarter thereafter”

  
  

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 Section 3. Representations and Warranties. In addition to the continuing representations,
warranties and covenants heretofore or hereafter made by each Borrower to Agent and Lenders pursuant to the other Financing Agreements, Borrowers, jointly and severally, hereby represent, warrant and covenant with and to Agent and Lenders as follows
(which representations, warranties and covenants are continuing and shall survive the execution and delivery hereof and shall be incorporated into and made a part of the Financing Agreements): 
  
 3.1. Corporate Power and Authority. This Fourth Amendment and each
other agreement or instrument to be executed and delivered by each Borrower have been duly authorized, executed and delivered by all necessary action on the part of such Borrower which is a party hereto and thereto and, if necessary, its
stockholders, and is in full force and effect as of the date hereof, as the case may be, and the agreements and obligations of each Borrower contained herein and therein constitute legal, valid and binding obligations of such Borrower enforceable
against it in accordance with their terms except as such enforceability may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforcement of creditors’ rights and (b) the
application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 
  
 3.2. Consents: Approvals. No action of, or filing with, or consent of any Governmental Authority is required to authorize, or is otherwise
required in connection with, the execution, delivery and performance of this Fourth Amendment other than the filing of a Report on Form 8-K pursuant to the Exchange Act. 
  
 3.3. No Event of Default. No Event of Default, and no condition or event which, with the giving of notice or lapse
of time, or both, would constitute an Event of Default, exists or has occurred and is continuing after giving effect to the provisions of this Fourth Amendment. All of the representations and warranties set forth in the Loan Agreement and the other
Financing Agreements, are true and correct in all respects on and as of the date hereof as if made on the date hereof, except to the extent any such representation or warranty is made as of a specified date, in which case such representation or
warranty shall have been true and correct as of such date. 
  
 Section 4. Conditions Precedent. This Fourth Amendment shall be effective as of the date hereof but only upon the satisfaction of each of the following conditions precedent in a manner satisfactory to Agent: 
  
 4.1. Agent shall have received an original of this Fourth Amendment, duly
authorized, executed and delivered by Borrowers; 
  
 4.2. Agent
shall have received a fully-executed copy of Amendment No. 4 to the Working Capital Loan Agreement, the form and substance of which shall be satisfactory to Agent; 
  
 4.3. Agent shall have received a fully-executed copy of an amendment to the Intercreditor Agreement between Agent and
Working Capital Agent (and acknowledged and agreed to by Borrowers), in form and substance satisfactory to Agent; 
  

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 4.4. the Working Capital Agent and the Working Capital Lenders shall have consented to this Fourth
Amendment and the amendments to the Loan Agreement set forth herein; 
  
 4.5. no Default or Event of Default shall exist or have occurred and be continuing; and 
  
 4.6. all legal matters incident to this Fourth Amendment shall be satisfactory to the Agent and its counsel. 
  
 Section 5. Consent to Working Capital Amendment. The Agent and the
Lenders hereby acknowledge that the Borrowers are entering into an amendment to the Working Capital Lender Agreements on the terms set forth in that certain Amendment No. 4 to Amended and Restated Loan and Security Agreement, dated as of the date
hereof, among the Borrowers, the Working Capital Agent and the Working Capital Lenders, and consent thereto for all purposes in accordance with the provisions of Section 9.9(e)(v) of the Loan Agreement. 
  
 Section 6. Events of Default. 
  
 6.1. No Waiver of Any Events of Default. Except as agreed to in
writing by Agent prior to the date hereof, Agent has not waived and is not by this Fourth Amendment waiving, and has no present intention of waiving, any Events of Default, which may have occurred prior to the date hereof, or may be continuing on
the date hereof or any Event of Default which may occur after the date hereof. Agent reserves the right, in its discretion, to exercise any or all of its rights and remedies arising under the Financing Agreements or otherwise, as a result of any
Events of Default which may have occurred prior to the date hereof, or are continuing on the date hereof, or any Event of Default which may occur after the date hereof. 
  
 6.2. Additional Events of Default. The parties hereto acknowledge, confirm and agree that the failure of any
Borrower to comply with the covenants, conditions and agreements contained herein or in any other agreement, document or instrument at any time executed by any Borrower in connection herewith shall in each case constitute an Event of Default under
the Financing Agreements. 
  
 Section 7. Miscellaneous.

  
 7.1. Effect of this Fourth Amendment. Except as
modified pursuant hereto, no other changes or modifications to the Financing Agreements are intended or implied and in all other respects the Financing Agreements are hereby specifically ratified, restated and confirmed by all parties hereto as of
the effective date hereof. To the extent of conflict between the terms of this Fourth Amendment and the other Financing Agreements, the terms of this Fourth Amendment shall control. The Loan Agreement and this Fourth Amendment shall be read and
construed as one agreement. 
  
 7.2. Governing Law. The
rights and obligations hereunder of each of the parties hereto shall be governed by and interpreted and determined in accordance with the internal laws of the State of New York but excluding any principles of conflicts of law or other 

  

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rule of law that would cause the application of the law of any jurisdiction other than the laws of the State of New York. 
  
 7.3. Binding Effect. This Fourth Amendment shall be binding upon and
inure to the benefit of each of the parties hereto and their respective successors and assigns. 
  
 7.4. Further Assurances. The parties hereto shall execute and deliver such additional documents and take such additional action as may be
necessary to effectuate the provisions and purposes of this Fourth Amendment. 
  
 7.5. Counterparts. This Fourth Amendment may be executed in any number of counterparts, but all of such counterparts shall together constitute but one and the same agreement. In making proof of this Fourth
Amendment, it shall not be necessary to produce or account for more than one counterpart hereof signed by each of the parties hereto. Delivery of an executed counterpart of this Fourth Amendment by facsimile or electronic mail shall have the same
force and effect as delivery of an original executed counterpart of this Fourth Amendment. Any party delivering an executed counterpart of this Fourth Amendment by facsimile or electronic mail also shall deliver an original executed counterpart of
this Fourth Amendment, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Fourth Amendment as to such party or any other party hereto. 
  
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 IN WITNESS WHEREOF, Agent, Lenders and Borrowers have caused this Fourth Amendment to be duly executed as
of the day and year first above written. 
  

							
	 AGENT and LENDERS
	 	 BORROWERS

		
	 ABLECO FINANCE LLC, as Agent and Lender
 (on behalf of itself and its affiliate assigns)
	 	 LEXINGTON PRECISION CORPORATION

				
	 By:
	 	 /s/ Dan Wolf

	 	 By:
	 	 /s/ Michael A. Lubin

	 Title:
	 	 Senior Vice President
	 	 Title:
	 	 Chairman of the Board

			
	 	 	 	 	 LEXINGTON RUBBER GROUP, INC.

				
	 	 	 	 	 By:
	 	 /s/ Michael A. Lubin

	 	 	 	 	 Title:
	 	 Chairman of the Board

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