EX-99.2 3 e25098ex99_2.txt TERMINATION OF PURCHASE AND SALE AGREEMENT Exhibit 99.2 Termination of Purchase and Sale Agreement Reference is made to the Purchase and Sale Agreement, dated as of September 28, 2001, among Albany International Corp., Geschmay Corp., Albany International Research Co., Albany International Techniweave, Inc., Albany International Canada Inc., M&I Door Systems Ltd. and Albany International Receivables Corporation (as amended, the "Purchase and Sale Agreement"). Capitalized terms used and not defined herein have the respective meanings set forth in the Purchase and Sale Agreement. In consideration of the Originators' payments to Buyer on the date hereof of the respective amounts indicated in Exhibit A attached hereto, (i) the Buyer hereby sells, transfers and conveys to each Originator the outstanding receivables originated by such Originator and heretofore purchased by Buyer, (ii) the undersigned hereby terminate the Purchase and Sale Agreement, which will have no further force or effect, and (iii) the Originators agree that the Limited Guaranty delivered by Albany International Corp., guarantying the obligations of the Buyer under the Purchase and Sale Agreement, is hereby terminated and will have no further force or effect. Dated: September 20, 2006 ALBANY INTERNATIONAL CORP. GESCHMAY CORP. By: /s/ Charles J. Silva, Jr. By: /s/ Charles J. Silva, Jr. ---------------------------- ---------------------------- Charles J. Silva, Jr. , VP & Gen. Counsel Charles J. Silva, Jr., VP & Secretary ALBANY INTERNATIONAL ALBANY INTERNATIONAL TECHNIWEAVE, RESEARCH CO. INC. By: /s/ Charles J. Silva, Jr. By: /s/ Charles J. Silva, Jr. ----------------------------- ----------------------------- Charles J. Silva, Jr., Vice President Charles J. Silva, Jr., Secretary ALBANY INTERNATIONAL M&I DOOR SYSTEMS LTD. CANADA CORP. By: /s/ Charles J. Silva, Jr. By: /s/ Charles J. Silva, Jr. ----------------------------- ---------------------------- Charles J. Silva, Jr., VP & Secretary Charles J. Silva, Jr., VP & Secretary ALBANY INTERNATIONAL RECEIVABLES CORPORATION By: /s/ David C. Michaels ------------------------- David C. Michaels, President & Treasurer EXHIBIT A ---------
------------------------------------------------------------------------------------------------------------- (2) Portion of Total Payment effected by cancellation (1) of debt owed to that Net Cash Payment Originator Total Payment Originator by the Buyer [(1) - (2)] ------------------------------------------------------------------------------------------------------------- Albany International Corp. 38,025,012 14,819,961 23,205,051 ------------------------------------------------------------------------------------------------------------- Geschmay Corp. 2,291,976 -40,347 2,332,323 ------------------------------------------------------------------------------------------------------------- Albany International Research Co. 0 0 0 ------------------------------------------------------------------------------------------------------------- Albany International 2,416,663 511,863 1,904,800 Techniweave, Inc. ------------------------------------------------------------------------------------------------------------- Albany International Canada Inc. 14,253,409 2,802,279 11,451,130 ------------------------------------------------------------------------------------------------------------- M&I Door Systems Ltd. 1,068,923 294,334 774,589 -------------------------------------------------------------------------------------------------------------