Amendment No. 2 to Business Loan Agreement between Bank of America, N.A. and Calavo Growers of California

Summary

This amendment updates a previous business loan agreement between Bank of America and Calavo Growers of California. The main change increases the loan amount limit from $23.5 million to $26.5 million. All other terms of the original agreement remain unchanged. Both parties confirm that the agreement is still valid and that there are no current defaults, except as previously disclosed or waived.

EX-10.7 13 v70569ex10-7.txt EXHIBIT 10.7 1 Exhibit 10.7 BANK OF AMERICA ================================================================================ AMENDMENT TO DOCUMENTS AMENDMENT NO. 2 TO BUSINESS LOAN AGREEMENT This Amendment No. 2 (the "Amendment") dated as of _______________________, ____, is between Bank of America, N.A. (the "Bank"), formerly Bank of America NT & SA, and Calavo Growers of California (the "Borrower"). RECITALS A. The Bank and the Borrower entered into a certain Business Loan Agreement dated as of April 20, 1999, as previously amended (the "Agreement"). B. The Bank and the Borrower desire to further amend the Agreement. AGREEMENT 1. DEFINITIONS. Capitalized terms used but not defined in this Amendment shall have the meaning given to them in the Agreement. 2. AMENDMENTS. The Agreement is hereby amended as follows: 2.1 In Paragraph 7.6(e) of the Agreement, the amount "TWENTY SIX MILLION FIVE HUNDRED THOUSAND DOLLARS ($26,500,000)" is substituted for the amount "TWENTY THREE MILLION FIVE HUNDRED THOUSAND DOLLARS ($23,500,000)." 3. REPRESENTATIONS AND WARRANTIES. When the Borrower signs this Amendment, the Borrower represents and warrants to the Bank that: (a) there is no event which is, or with notice or lapse of time or both would be, a default under the Agreement except those events, if any, that have been disclosed in writing to the Bank or waived in writing by the Bank, (b) the representations and warranties in the Agreement are true as of the date of this Amendment as if made on the date of this Amendment, (c) this Amendment is within the Borrower's powers, has been duly authorized, and does not conflict with any of the Borrower's organizational papers, and (d) this Amendment does not conflict with any law, agreement, or obligation by which the Borrower is bound. 4. EFFECT OF AMENDMENT. Except as provided in this Amendment, all of the terms and conditions of the Agreement shall remain in full force and effect. This Amendment is executed as of the date stated at the beginning of this Amendment. BANK OF AMERICA, N.A. Calavo Growers of California x /s/ Eduardo Ordorica x /s/ EGIDIO CARBONE ------------------------------ ----------------------------------- By: Eduardo Ordorica By: Egidio Carbone Assistant Vice President Vice President x ----------------------------------- By: - 1 -