EXHIBIT 4.8
AMENDMENT NO. 6 TO AMENDED AND RESTATED CREDIT AGREEMENT
THIS AMENDMENT dated as of May 21, 2004, by and among the financial
institutions whose signatures appear below (individually a "Bank," collectively
the "Banks"), Comerica Bank, as Administrative Agent for the Banks (in such
capacity, "Agent"), and Olympic Steel, Inc., an Ohio corporation (the
"Company").
RECITALS:
A. Company, Agent and Comerica Bank, Fifth Third Bank, Standard Federal
Bank N.A., Fleet Capital Corporation and KeyBank National Association are
parties to that certain Amended and Restated Credit Agreement dated as of
December 30, 2002, as previously amended ("Credit Agreement").
B. Company, the Banks and Agent desire to amend the Credit Agreement as
set forth below.
NOW THEREFORE, the parties agree as follows:
1. The definitions of "Revolving Credit Maturity Date", "Term Loan A
Maturity Date" and "Term Loan B Maturity Date" set forth in Section 1.1 of the
Credit Agreement are amended to read as follows:
"`Revolving Credit Maturity Date' shall mean the earlier to occur of
(i) December 15, 2006, as such date may be extended pursuant to Section
2.16 hereof, and (ii) the date on which the Revolving Credit Aggregate
Commitment shall terminate in accordance with the provisions of this
Agreement."
"`Term Loan A Maturity Date' shall mean December 15, 2006, as such
date may be extended under Section 4.13 of this Agreement."
"`Term Loan B Maturity Date' shall mean December 15, 2006, as such
date may be extended under Section 4.13 of this Agreement."
2. Except as expressly modified hereby, all the terms and conditions of
the Credit Agreement shall remain in full force and effect.
3. Company hereby represents and warrants that, after giving effect to
the amendments contained herein, (a) execution, delivery and performance of this
Amendment and any other documents and instruments required under this Amendment
or the Credit Agreement are within its corporate powers, have been duly
authorized, are not in contravention of law or the terms of its Articles of
Incorporation or Bylaws, and do not require the consent or approval of any
governmental body, agency, or authority; and this Amendment and any other
documents and instruments required under this Amendment or the Credit Agreement,
will be valid and binding in accordance with their terms; (b) the continuing
representations and warranties made by Company set forth in Sections 6.1 through
6.19 and 6.21 through 6.24 of the Credit Agreement
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are true and correct on and as of the date hereof with the same force and effect
as if made on and as of the date hereof; (c) the continuing representations and
warranties of Company set forth in Section 6.20 of the Credit Agreement are true
and correct as of the date hereof with respect to the most recent financial
statements furnished to the Bank by Company in accordance with Section 7.1of the
Credit Agreement; and (d) no Default or Event of Default has occurred and is
continuing as of the date hereof.
4. Capitalized terms used but not defined herein shall have the meaning
set forth in the Credit Agreement.
5. This Amendment may be signed in counterparts.
6. This Amendment shall become effective (according to the terms and as
of the date hereof) upon satisfaction by Company of the following conditions:
(a) Agent shall have received counterpart originals of this
Amendment, in each case duly executed and delivered by Company, the Banks,
and the Guarantors; and
(b) Company shall have paid to the Agent for the benefit of the
Banks the fee referred to in Section 7, below.
WITNESS the due execution hereof as of the day and year first above
written.
COMERICA BANK, OLYMPIC STEEL, INC.
as Agent
By:_______________________________ By:__________________________________
Its: _____________________________ Its: ________________________________
SWING LINE BANK: COMERICA BANK
By:__________________________________
Its: ________________________________
ISSUING BANK: COMERICA BANK
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By:__________________________________
Its: ________________________________
BANKS: COMERICA BANK
By:__________________________________
Its: ________________________________
STANDARD FEDERAL BANK N.A.
By:__________________________________
Its: ________________________________
FIFTH THIRD BANK
By:__________________________________
Its: ________________________________
FLEET CAPITAL CORPORATION
By:__________________________________
Its: ________________________________
KEYBANK NATIONAL ASSOCIATION
By:__________________________________
Its: ________________________________
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Acknowledged by the undersigned Guarantor as of May 21, 2004.
: GUARANTORS:
OLYMPIC STEEL LAFAYETTE, INC.
By: _________________________________
Its:_________________________________
OLYMPIC STEEL MINNEAPOLIS, INC.
By:__________________________________
Its: ________________________________
OLYMPIC STEEL IOWA, INC.
By:__________________________________
Its: ________________________________
OLY STEEL WELDING, INC.
By:__________________________________
Its: ________________________________
OLYMPIC STEEL RECEIVABLES, L.L.C.
By:__________________________________
Its:_________________________________
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