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Exhibit 99.2
AMENDMENT NO. 2 TO
FORBEARANCE AND STANDSTILL AGREEMENT
WHEREAS, the undersigned are parties to a certain Forbearance and
Standstill Agreement dated as of March 16, 2001 and amended as of April 16, 2001
(the "Forbearance Agreement";
WHEREAS, the parties desire to extend the Forbearance Period as defined
therein;
NOW THEREFORE, the undersigned hereby agree that all references in the
Forbearance Agreement to "April 30, 2001" are hereby changed to "May 8, 2001",
and all references therein to the Bank Forbearance Agreement shall be deemed
references to the Bank Forbearance Agreement as amended to and including the
date hereof.
IN WITNESS WHEREOF, the parties, by their duly authorized officers,
have executed and delivered this Amendment as of the 30th day of April 2001.
PEN HOLDINGS, INC.
By: /s/ Xxxx X. Xxxxxx
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Title: Secretary/Treasurer
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MELLON BANK, N.A., as Agent
By: /s/ Xxxx Xxxxxx Xxxxxx
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Title: Vice President
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CIBC INC.
By: /s/ Xxxxxx Xxxxxx
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Title: Executive Director
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AMSOUTH BANK
By: /s/ Xxx Xxxxxxxx
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Title: Commercial Banking Officer
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TRAVELERS CASUALTY AND SURETY
COMPANY OF AMERICA
By: /s/ Xxxx Xxxxxxxxx
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Title: Vice President, Bond Claims
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