EXHIBIT 10.9
[BARCLAYS CAPITAL LETTERHEAD]
Xxxx Xxxxxx
Independent Energy UK Limited
Dominion Court, 00 Xxxxxxx Xxxx
Xxxxxxxx
Xxxx Xxxxxxxx X00 0XX
FAX: 00 00 000 0000
4 June 1998
Dear Xxxx:
CREDIT AGREEMENT DATED 5 SEPTEMBER 1997 BETWEEN INDEPENDENT ENERGY UK LIMITED
AND BARCLAYS BANK PLC (THE "CREDIT AGREEMENT")
Further to our recent correspondence, we hereby confirm our agreement to an
amendment of the following term of the Credit Agreement.
. amend the figure contained in Clause I (Interpretation) under the
definition of Total Commitments from (Pounds)5,000,000 to
(Pounds)8,000,000.
We will also need to amend the automatic cancellation/reduction schedule
contained within Clause 7.4(a) and suggest that this be done once we have had
sight of cashflows relating to the proposed new Borrowing Base Projects. In the
meantime, we would propose that for the purpose of the semi-annual Reduction
Date we continue with the existing reduction profile, treating Total Commitments
as currently documented in the Credit Agreement.
As discussed, our fee for agreeing to the above amendment is (Pounds)30,000
payable within 10 business days from the date of this letter.
Please would you sign, date and return the enclosed copy of this letter as
confirmation of your agreement to the above.
Yours sincerely,
/s/ Xxxxx Xxxxxxxxx
Xxxxx Xxxxxxxxx Agreed by : /s/ Xxxx Xxxxxx
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Director
Energy Finance Date: 16 July 1998
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