Second Amendment to First Amended and Restated Revolving Credit Loan Agreement between Comerica Bank-Texas and Bestway, Inc. et al.

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Summary

Comerica Bank-Texas and Bestway, Inc., along with its affiliates, have agreed to amend their existing revolving credit loan agreement. The amendment temporarily adjusts the minimum effective tangible net worth requirements for the borrower for specific periods between July 31, 2000, and June 30, 2001. This change is based on updated financial projections and does not waive any future defaults or imply that further modifications will be granted. All other terms of the original agreement remain in effect.

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EX-10.9 2 d81211ex10-9.txt LOAN AGREEMENT 1 EXHIBIT 10.9 [COMERICA BANK-TEXAS LETTERHEAD] October 19, 2000 Ms. Beth Durrett Bestway Rental, Inc. 7800 Stemmons Freeway, Suite 320 Dallas, Texas 75247 RE: SECOND AMENDMENT TO FIRST AMENDED AND RESTATED REVOLVING CREDIT LOAN AGREEMENT (THE "LOAN AGREEMENT") BETWEEN COMERICA BANK-TEXAS ("LENDER") AND BESTWAY, INC.; BESTWAY RENTAL, INC.; K.C. RESOURCE SERVICE CORPORATION; AND U.S. CREDIT-SERVICE CORPORATION, (COLLECTIVELY, "BORROWER") DATED APRIL 12, 1996, AND AS AMENDED FROM TIME TO TIME. Dear Ms. Durrett: Based on the revised projections provided by you for fye 7-31-00, it appears that a violation of Section 6.7 (Minimum Effective Tangible Net Worth) of the Loan Agreement could occur. Based on the information provided, and our analysis of same to date, Lender agrees to modify the provision of 6.7 as follows: 7/31/00 - 9/30/00 $ 9,500,000 10/31/00 - 12/31/00 $ 9,500,000 01/31/01 - 03/31/01 $ 9,700,000 04/30/01 - 06/30/01 $10,300,000 The preceding modification shall not constitute a waiver of any subsequent defaults or other violations of the provisions of the Agreement and shall not imply that the Lender will in the future grant any other waivers or modifications. Please call me if you have any questions or if I can be of further assistance. My direct phone number is ###-###-####. Sincerely, /s/ PAUL L. STRANGE Paul L. Strange Vice President cc: Loan Agreement File