EXHIBIT 10.42
CREDIT AGREEMENT
BY AND BETWEEN
LASALLE NATIONAL BANK
135 SOUTH LASALLE STREET
CHICAGO, ILLINOIS
AND
UNIVERSAL AUTOMOTIVE INDUSTRIES, INC.
3350 NORTH KEDZIE AVENUE
CHICAGO, ILLINOIS
DATED AS OF JULY 14, 1997
INDEX
Article I - Definitions and Interpretation 1
Section 1.01. Defined Terms 1
Section 1.02. Accounting Terms 18
Section 1.03. Interpretation 18
Article II - The Facilities 19
Section 2.01. The Loans 19
Section 2.02. Evidences of Debt 20
Section 2.03. Maintenance of Loans: Interest 20
Section 2.04. Interest on Overdue Amounts 21
Section 2.05. Borrowing Procedures 22
Section 2.06. Payment 22
Section 2.07. Fees 24
Section 2.08. Letters of Credit 25
Section 2.09. Conversion Options: Continuance 27
Section 2.10. Requirements of Law 28
Section 2.11. Illegality 30
Section 2.12. Indemnity 30
Section 2.13. Availability of Alternative Currency 31
Section 2.14. Euro 31
Article III - Representations and Warranties 31
Sec