Addendum, effective May 19, 2019, to the Credit Agreement dated as of May 19, 2009, between Milbank Insurance Company and State Automobile Mutual Insurance Company
EX-10.02 3 exhibit1002.htm EXHIBIT 10.02 Exhibit
This Addendum is effective May 19, 2019 and amends the Credit Agreement first effective May 19, 2009 (the "Agreement") by and between State Automobile Mutual Insurance Company ("Borrower") and Milbank Insurance Company ("Lender"), as follows:
1. Section 1.01 DEFINITIONS "Lender is deleted and replaced with the following:
"Lender" means Milbank Insurance Company, an Iowa corporation.
2. Section 1.01 DEFININTIONS "Maturity Date" is deleted and replaced with the following:
"Maturity Date means May 19, 2029 or such earlier date as a result of an acceleration of the maturity of the Term Loan Note as provided in this Agreement or such later date as the Lender may hereafter agree to, in its sole discretion."
3. Section 2.04(a) is deleted and replaced with the following:
Interest. (a) The Term Loan shall bear interest at the rate per annum of four and five one-hundredths percent (4.05%).
All other provisions of the Agreement remain unchanged.
STATE AUTOMOBILE MUTUAL INSURANCE COMPANY
By: /s/ Michael E. LaRocco
Print Name:Michael E. LaRocco
Title:President & CEO
MILBANK INSURANCE COMPANY
By: /s/ Steven E. English
Print Name: Steven E. English
Title: SVP CFO