Amendment to Master Security Agreement (Schedule 003) between General Electric Capital Corporation and TGC Industries, Inc.
This amendment, dated September 9, 2005, is between General Electric Capital Corporation and TGC Industries, Inc. It modifies Schedule Number 003 of their Master Security Agreement dated October 22, 2004. The amendment changes the periodic installment payment on the related promissory note from $8,870.86 to $7,950.97. All other terms of the original agreement remain unchanged and in effect.
Exhibit 10.4
*MULT1000*
AMENDMENT
THIS AMENDMENT is made as of the 09th day of September, 2005, between General Electric Capital Corporation, together with its successors and assigns, if any, and TGC Industries, Inc. in connection with Schedule Number 003 of that certain Master Security Agreement, dated or dated as of October 22, 2004 (“Agreement”). The terms of this Amendment are hereby incorporated into the Agreement as though fully set forth therein. The Agreement is hereby amended as follows:
The 35 Periodic Installment Amount on the Promissory Note is changed from $8,870.86 to $7,950.97.
TERMS USED, BUT NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN TO THEM IN THE AGREEMENT. EXCEPT AS EXPRESSLY AMENDED HEREBY, THE AGREEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment by signature of their respective authorized representative set forth below.
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| General Electric Capital Corporation |
| TGC Industries, Inc. | |||||||||
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| By: | /s/ W. Scott Cummins |
| By: | /s/ Wayne Whitener |
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| Name: | W. Scott Cummins |
| Name: | Wayne Whitener |
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| Title: | Risk Analyst |
| Title: | President |
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