Amendments to the Credit Agreement and Waiver. Subject to the conditions --------------------------------------------- in Section 4, the other terms and conditions of this Agreement, and subject to the Obligors entering into an agreement on or before June 2, 1997, in form and substance reasonably satisfactory to the Agent, which Agreement shall modify the financial covenants set forth in Section 7.16 of the Credit Agreement for all periods subsequent to June 30, 1997, the Credit Agreement and the Waiver are hereby amended as follows:
(a) The "Waiver Period" shall be extended to September 30, 1998.
(b) Section 3(b) of the Waiver is amended to insert the following prior to the period at the end of the sentence: "provided, however, the -------- ------- Obligors may request a conversation of any unpaid reimbursement obligations under the Credit Agreement to a Term Loan due no earlier than September 30, 1998 with respect to a "Tender Draft" on a Letter of Credit based on a drawing under a Letter of Credit in respect to the payment of the purchase price of Bonds tendered for purchase and not successfully remarketed pursuant to the Indenture."
(c) Section 7.34 of the Credit Agreement, as amended and restated in the Third Amendment to Credit Agreement dated as of August 15, 1996, is hereby amended to delete therefrom "and to not more than $15,000,000 by July 1, 1997,".
(d) Section 8.01 of the Credit Agreement is amended to insert the following new subsection:
(o) Any of the conditions set forth in Section 4 of the Fourth Amendment to Credit Agreement, First Amendment to Waiver, Consent to Merger and Extension Agreement dated as of May 15, 1997 are not satisfied on or before June 2, 1997."
Amendments to the Credit Agreement and Waiver
