Key Tronic Announces Amendment to Financing Agreement.Business Editors Key Tronic Key Tronic is a computer equipment manufacturer founded in 1969. Its core product group includes keyboards, mice and other input devices. They are considered to be one of the pioneers in ergonomic keyboard design. Corporation (Nasdaq:KTCC KTCC Kiarti Thanee Country Club (Thailand) ), announced today that the Company's lender, CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group/Business Credit, Inc., has signed an amendment to its financing agreement that waives the Events of Default occurring as a result of the Judgment Lien Noun 1. judgment lien - lien on a debtor's property that is granted to a creditor by court judgment; lien may be enforced by having the sheriff seize the property and hold a sheriff's sale lien - the right to take another's property if an obligation is not discharged of $19.2 million in the matter of F&G Scrolling Mouse, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control et. al. v. Key Tronic Corporation ("the Judgment"). The waiver is conditioned upon the continuation of the stay of execution of the Judgment granted by the court on June 6, 2002, pending the outcome of Key Tronic's appeal. The waiver enables Key Tronic to remain in compliance with its financing agreement and draw on its credit facility, while it continues to fulfill its current business obligations, pursue new business opportunities and appeal the Judgment. About Key Tronic Key Tronic is a leading contract manufacturer offering value-added design and manufacturing services from its facilities in the United States, Mexico, Ireland and China. The Company provides its customers full engineering services, materials management, worldwide manufacturing facilities, assembly services, in-house testing, and worldwide distribution. Its customers include some of the world's leading original equipment manufacturers. For more information about Key Tronic visit: www.keytronic.com. Some of the statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements include all passages containing verbs such as 'aims, anticipates, believes, estimates, expects, hopes, intends, plans, predicts, projects or targets' or nouns corresponding to such verbs. Forward-looking statements also include any other passages that are primarily relevant to expected future events or that can only be fully evaluated by events that will occur in the future. Forward-looking statements in this release include, without limitation, the Company's statements regarding its intentions and plans with respect to the lawsuit. There are many factors, risks and uncertainties that could cause actual results to differ materially from those predicted or projected in the forward-looking statements, including the inherent uncertainties and risks of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. that may cause the Company to review and alter its litigation strategy and the risk of potential adverse rulings in the litigation. |
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