AMENDED AND RESTATED
LOAN AND SECURITY AGREEMENT
This Amended and Restated Loan and Security Agreement is made as of August 30, 1995 by and between THE
BANK OF NEW YORK ("Lender"), having offices at 1100 Old Country Road, Plainview, New York 11803
and LAKELAND INDUSTRIES, INC. ("Borrower"), having its principal place of business at 711-2 Koehler
Avenue, Ronkonkoma, New York 11779.
Borrower and The Bank of New York Commercial Corporation ("BNYCC") are parties to a Loan and Security
Agreement dated as of September 23, 1993 as amended by a Waiver and Amendment No. 1 to Loan and
Security Agreement dated as of January 31, 1994 (as the same may have been further amended, modified or
supplemented from time to time the "Original Loan Agreement").
BNYCC, pursuant to an Assignment dated as of August 30, 1995 (the "Assignment") has assigned all of its rights
and obligations under the Original Loan Agreement to Lender.
By execution of this Agreement, Borrower and Lender wish to amend and restate the Original Loan Agreement
on the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the mutual covenants and undertakings herein contained, the parties
hereto hereby agree as follows:
A. AMENDMENT AND RESTATEMENT
As of the date of this Agreement, the terms, conditions, covenants, agreements, representations and warranties
contained in the Original Loan Agreement shall be deemed amended and restated in their entirety as follows and
the Original Loan Agreement shall be consolidated with and into and superseded by this Agreement; provided,
however, that nothing contained in this Agreement shall impair, limit or affect the Liens heretofore granted,
pledged and/or assigned as security for Borrower's obligations under the Original Loan Agreement.
B. 1. General Definitions. (i) When used in this Agreement, the following terms shall have the following meanings:
"Acceptance Fees" shall have the meaning set forth in
Section 5(d) hereof.
"Acceptance Rate" shall mea