[EXECUTION COPY]
AMENDMENT NO. 9
to
FOURTH AMENDED AND RESTATED REVOLVING
CREDIT AND SECURITY AGREEMENT
dated as of October 20, 1995
THIS AMENDMENT NO. 9 dated November 14, 1997 is made by and
among SYNTHETIC INDUSTRIES, INC., a Delaware corporation (the "Borrower"), the
Lenders parties from time to time to the Credit Agreement (as hereinafter
defined), and BANKBOSTON, N.A. (formerly known as The First National Bank of
Boston)("BankBoston"), as the agent (the "Agent") for the Lenders.
Preliminary Statements
The Borrower, the Lenders and the Agent are parties to a
Fourth Amended and Restated Revolving Credit and Security Agreement dated as of
October 20, 1995, (as amended and in effect, the "Credit Agreement"; terms
defined therein and not otherwise defined herein being used herein as therein
defined). The Borrower has requested, and the Lenders and the Agent have agreed,
upon and subject to the terms, conditions and provisions of this Amendment, to
increase the Dollar amount of Capital Expenditures of the Borrower permitted
under the Credit Agreement.
Accordingly, in consideration of the Credit Agreement, the
Loans made by the Lenders and outstanding thereunder, the mutual promises
hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:
Section 1. Amendments to Credit Agreement. From and after the
date hereof, subject only to receipt by the Agent of at least six counterparts
of this Amendment signed by the duly authorized representatives of each Lender
and the Borrower, the Credit Agreement is hereby amended by amending Section
10.5 Capital Expenditures by amending clauses (c) and (d) thereof in their
entirety to read as follows:
(c) for the fiscal year of the Borrower ending
September 30, 1997, $57,000,000;
(d) for the fiscal year of the Borrower ending
September 30, 1998, $10,000,000 plus the lesser of $3,000,000
and the amount, if any, by which $57,000,000 exceeds the
actual amount of Capital Expenditures of the Borrower and its
Consolidated Subsidiaries made during the fiscal year of the
Borrower ending September 30, 1997; and
Section 2. Effect of Amendment. From and after the
effectiveness of this Amendment, all references in the Credit Agreement and in
any other Loan Document to "this Agreement," "the Credit Agreement,"
"hereunder," "hereof" and words of like import referring to the Credit
Agreement, shall mean and be references to the Credit Agreement as amended by
this Amendment. Except as expressly amended hereby, the Credit Agreement and all
terms, conditions and provisions thereof remain in full force and effect and are
hereby ratified and confirmed. The execution, delivery and effectiveness of this
Amendment shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of any Lender or the Agent under any of the Loan
Documents, nor constitute a waiver of any provision of any of the Loan
Documents.
Section 3. Counterpart Execution; Governing Law.
(a) Execution in Counterparts. This Amendment may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute but one and the
same agreement.
(b) Governing Law. This Amendment shall be governed by and
construed in accordance withthe laws of the State of Georgia.
IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed by their respective officers thereunto duly authorized,
as of the date first above written.
SYNTHETIC INDUSTRIES, INC.
[Corporate Seal] By:/s/ Xxxxxxx Chill
Xxxxxxx Chill
ATTEST: President & CEO
By:/s/ Xxxxxx Xxxxxxxxx
------------------------------
[Assistant] Secretary
BANKBOSTON, N.A., as the Agent and as a Lender
By: /s/ Xxxxxxx X. XxXxxxx
Xxxxxxx X. XxXxxxx
Director
SANWA BUSINESS CREDIT CORPORATION
By: /s/ Xxxxx X. Xxxxxx
Xxxxx X. Xxxxxx
Vice President
SOUTHTRUST BANK, NATIONAL ASSOCIATION
By: /s/ Xxxxxx X. Xxxxxx
Xxxxxx X. Xxxxxx
Vice President