Amendment No. 3 to Revolving Credit and Guaranty Agreement among LaRoche Industries Inc., LaRoche Fortier Inc., DIP Lenders, and The Chase Manhattan Bank

Contract Categories: Business Finance › Credit Agreements
Summary

This amendment, dated August 31, 2000, updates the Revolving Credit and Guaranty Agreement between LaRoche Industries Inc. (the borrower), LaRoche Fortier Inc. (the guarantor), several lenders, and The Chase Manhattan Bank as agent. The amendment reinstates the lenders’ total commitment to $25 million, reversing previous reductions. It becomes effective once all parties have signed. The agreement is governed by New York law and lists each lender’s commitment amount and percentage.

View More
EX-10.53 5 a2040910zex-10_53.txt EX-10.53 EXHIBIT 10.53 EXECUTION COPY AMENDMENT NO. 3 TO CREDIT AGREEMENT AMENDMENT dated as of August 31, 2000 (the "AMENDMENT") to the Revolving Credit and Guaranty Agreement dated as of May 4, 2000 and amended as of May 15, 2000 and June 1, 2000 (as so amended, the "CREDIT AGREEMENT") among LAROCHE INDUSTRIES INC. (the "BORROWER"), LAROCHE FORTIER INC. (the "GUARANTOR"), the LENDERS party thereto (the "DIP LENDERS") and THE CHASE MANHATTAN BANK, as Agent (the "AGENT"). WITNESSETH: WHEREAS, the receipt of Net Proceeds by the Borrower since May 4, 2000 has reduced the Total Commitment from $25 million to $22.5 million; and WHEREAS, the Borrower has requested that the DIP Lenders reinstate the initial Total Commitment of $25 million and the DIP Lenders have agreed to do so as provided herein; NOW, THEREFORE, the parties hereto agree as follows: SECTION 1. DEFINITIONS; REFERENCES. Unless otherwise specifically defined herein, each term used herein that is defined in the Credit Agreement shall have the meaning assigned to such term in the Credit Agreement. Each reference to "hereof", "hereunder", "herein" and "hereby" and each other similar reference and each reference to "this Agreement" and each other similar reference contained in the Credit Agreement shall, from and after the date of the effectiveness this Amendment No. 3 (the "AMENDMENT NO. 3 EFFECTIVE DATE"), refer to the Credit Agreement as amended hereby. SECTION 2. REINSTATEMENT OF COMMITMENT SCHEDULE. On and as of the Amendment No. 3 Effective Date, the Commitment of each DIP Lender shall be the amount set forth on Annex A to the Credit Agreement (which is attached hereto), notwithstanding any reductions to the Commitments that took place prior to the Amendment No. 3 Effective Date. SECTION 3. EFFECTIVENESS. This Amendment shall become effective if and only if the Agent shall have received duly executed counterparts hereof signed by the Borrower and each DIP Lender (or, in the case of any party as to which an executed counterpart shall not have been received, the Agent shall have received telegraphic, telex or other written confirmation from such party of execution of a counterpart hereof by such party); SECTION 4. GOVERNING LAW. This Amendment shall be governed by and construed in accordance with the laws of the State of New York. SECTION 5. COUNTERPARTS. This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 2 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written. LAROCHE INDUSTRIES INC. By:__________________________ Name: Title: LAROCHE FORTIER INC. By:__________________________ Name: Title: THE CHASE MANHATTAN BANK By:__________________________ Name: Title: HIBERNIA NATIONAL BANK By:__________________________ Name: Title: 3 WACHOVIA BANK, N.A. By:__________________________ Name: Title: THE BANK OF NOVA SCOTIA By:__________________________ Name: Title: PERRY CAPITAL LLC By:__________________________ Name: Title: AMSOUTH BANK By:__________________________ Name: Title: 4 BHF (USA) CAPITAL CORPORATION By:__________________________ Name: Title: By:__________________________ Name: Title: COMERICA BANK By:__________________________ Name: Title: NATIONAL BANK OF CANADA By:__________________________ Name: Title: BNP PARIBAS By:__________________________ Name: Title: 5 COMMITMENT SCHEDULE
COMMITMENT COMMITMENT LENDERS AMOUNT PERCENTAGE ORIGINAL LENDER The Chase Manhattan Bank, N.A. $3,281,250.00 13.1250% 380 Madison Avenue New York, NY 10017 Attn: Mr. Patrick A. Daniello NEW LENDERS AmSouth Bank $2,265,625.00 9.0625% 1900 5th Avenue North AST-64 Birmingham, AL 35203 Attn: Ms. Darlene Chandler BHF (USA) Capital Corporation $2,265,625.00 9.0625% 590 Madison Avenue New York, NY 10022-2540 Attn: Mr. Jeffrey Frost The Bank of Nova Scotia $2,656,250.00 10.6250% 165 Broadway 26th Floor New York, NY 10006 Attn: Ms. Diane Emanuel BNP Paribas $1,562,500.00 6.2500% 787 Seventh Avenue New York, NY 10019 Attn: Ms. Amy Kirschner
COMMITMENT COMMITMENT LENDERS AMOUNT PERCENTAGE Comerica Bank $2,265,625.00 9.0625% Comerica Tower at Detroit Center 500 Woodward Avenue MC 3280 Detroit, MI ###-###-#### Attn: Mr. John F. Regan Hibernia National Bank $3,125,000.00 12.5000% 225 Baronne Street, 10th Floor New Orleans, LA 70112 Attn: Ms. Tammy Angelety National Bank of Canada $1,796,875.00 7.1875% 125 West 55th Street 23rd Floor New York, NY 10019 Attn: Ms. Loriann Curnyn Perry Capital LLC $2,656,250.00 10.6250% 599 Lexington Avenue New York, NY 10022 Attn: Mr. Jed Bonnem Wachovia Bank, N.A. $3,125,000.00 12.5000% 191 Peachtree Street, NE Atlanta, GA 30303 Attn: Mr. Christopher Tierney
2