FOURTH AMENDMENT TO CREDIT AGREEMENT
THIS FOURTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is
entered into as of September 15, 1998, by and between AUTO-GRAPHICS,
INC., a California corporation ("Borrower"), and XXXXX FARGO BANK,
NATIONAL ASSOCIATION ("Bank").
RECITALS
WHEREAS, Borrower is currently indebted to Bank pursuant to the
terms and conditions of that certain Credit Agreement between Borrower
and Bank dated as of May 12, 1997, as amended from time to time
("Credit Agreement").
WHEREAS, Bank and Borrower have agreed to certain changes in the
terms and conditions set forth in the Credit Agreement and have agreed
to amend the Credit Agreement to reflect said changes.
NOW, THEREFORE, for valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree
that the Credit Agreement shall be amended as follows:
1. Section 1.1.(b)(i)(A) is hereby deleted in its entirety,
and the following substituted therefor:
"(i) any account which is more than ninety-three
(93) days past due;"
2. Section 4.3.(e) is hereby renumbered as Section 4.3.(f).
3. The following is hereby added to the Credit Agreement as
Section 4.3.(e):
"(e) not later than 20 days after and as of the end of each
month, Borrower will provide Bank a detailed report which
evidences that at least 80% of Borrower's invoices for that
period were billed on the last day of that month;"
4. Except as specifically provided herein, all terms and
conditions of the Credit Agreement remain in full force and
effect, without waiver or modification. All terms defined in
the Credit Agreement shall have the same meaning when used in
this Amendment. This Amendment and the Credit Agreement
shall be read together, as one document.
5. Borrower hereby remakes all representations and warranties
Contained in the Credit Agreement and reaffirms all covenants
set forth therein. Borrower further certifies that as of the
date of this Amendment there exists no Event of Default as
defined in the Credit Agreement, nor any condition, act or
event, which with the giving of notice or the passage of time
or both would constitute any such Event of Default.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed as of the day and year first written above.
AUTO-GRAPHICS, INC XXXXX FARGO BANK,
NATIONAL ASSOCIATION
By: ss/ Xxxxxx X. Xxxx By ss/ Xxxxxx Xxxxxxx-Xxxx
Xxxxxx X. Xxxx Xxxxxx Xxxxxxx-Xxxx
President Vice President
