Notice of Reduction of Commitments under Financing Agreement between Omega Protein Corporation and Ableco Finance LLC

Contract Categories: Business Finance › Financing Agreements
Summary

Omega Protein Corporation, on behalf of itself and Omega Protein, Inc., notifies Ableco Finance LLC, the administrative agent, of its decision to reduce the total revolving credit commitment under their existing Financing Agreement by $15 million, effective March 16, 2007. After this date, the total revolving credit commitment will be $15 million. The notice requires acknowledgment from Ableco Finance LLC and is issued in accordance with the terms of the original Financing Agreement.

Read More Arrow
EX-10.1 2 dex101.htm NOTICE OF REDUCTION OF COMMITMENTS Notice of Reduction of Commitments

Exhibit 10.1

NOTICE OF REDUCTION OF COMMITMENTS

March 13, 2007

Mr. Daniel Wolf

Ableco Finance LLC, as Administrative Agent

299 Park Avenue, 22nd Floor

New York, New York 10171

 

Re:   Financing Agreement dated October 19, 2006 (as amended, the “Financing Agreement”) by and among Omega Protein Corporation (“Omega”) and Omega Protein, Inc., as borrowers (“Borrowers”), the subsidiaries of Omega named therein as guarantors, the financial institutions from time to time party thereto, as lenders, and Ableco Finance LLC, as collateral agent and administrative agent (“Administrative Agent”).

Dear Dan:

Capitalized terms used but not defined in this Notice shall have the meanings given such terms in the Financing Agreement.

Pursuant to Section 2.05(a)(i) of the Financing Agreement, Omega, on behalf of the Borrowers, does hereby give notice to the Administrative Agent of a reduction in the Total Revolving Credit Commitment by $15,000,000 effective as of March 16, 2007 (the “Effective Date”). From and after the Effective Date, the Total Revolving Credit Commitment shall be equal to $15,000,000.

Please acknowledge your receipt of this Notice by signing in the space provided below and returning a signed copy of this Notice to Bob Stockton via facsimile ###-###-#### or email ***@***). Feel free to contact Bob Stockton or John Held with any questions.

 

      Sincerely,
      OMEGA PROTEIN CORPORATION
      By:  

/s/ Robert W. Stockton

        Robert W. Stockton
        Chief Financial Officer
Received on March 13, 2007:      
ABLECO FINANCE LLC, as Administrative Agent      
By:  

/s/ Daniel E. Wolf

      
  Daniel E. Wolf, Senior Vice President