August 14, 1998
Xx. Xxxxx F. Little, III
Chief Financial Officer
HydroChem Industrial Services, Inc.
0000 Xxxxxxx
Xxxxxxx, XX 00000
Re: Credit Agreement dated as of December 31, 1997 ("Agreement") among
HydroChem Industrial Services, Inc. ("Borrower") and NationsBank, N.A., as
successor in interest by merger to NationsBank of Texas, N.A. (as "Agent"
and "Bank")
Dear Mr. Little:
This letter agreement ("Letter Agreement") references the Agreement defined
above. Any capitalized terms used herein shall have the same meanings assigned
to them in the Agreement unless otherwise defined herein.
In your letter dated January 14, 1998 (the "Vacuum Truck Letter"), you described
the Borrower's plan to invest approximately $5 million to purchase vacuum
trucks. It is agreed that, for the purpose of calculating Capital Expenditures,
the Borrower may exclude the lesser of (i) $3,000,000 and (ii) the actual
expenditures made during 1998 which are described in the Vacuum Truck Letter.
Also, the Borrower may exclude the lesser of (i) $10,500,000 and (ii) the actual
expenditures made prior to December 31, 1998 relating to the purchase and
construction of land, plant, equipment and furnishings for the Borrower's new
headquarters facility in Deer Park, Texas. In order to make these exclusions,
the Borrower should detail the above expenditures in an attachment to the
Borrowing Base and Compliance Certificate as incurred.
Except as specifically described herein, the Agreement and the other Credit
Documents remain in full force and effect as originally executed. Nothing herein
shall act as a waiver of any of the Bank's rights under the Credit Documents as
amended, including the waiver of any Default, however denominated. The Borrower
must continue to comply with the terms of the Credit Documents, as amended.
THIS WRITTEN AGREEMENT AND THE CREDIT DOCUMENTS REPRESENT
THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES
THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
EXECUTED as of the date first above written.
BORROWER:
HYDROCHEM INDUSTRIAL SERVICES,
INC.
By: /s/ Selby F. Little, III
Name: Selby F. Little, III
Title: Executive Vice President & Chief
Financial Officer
AGENT:
NATIONSBANK, N.A., as Agent
By: /s/ Xxxxxxx X. Xxxxxxx
Xxxxxxx X. Xxxxxxx
Vice President
BANKS:
NATIONSBANK, N.A.
By: /s/ Xxxxxxx X. Xxxxxxx
Xxxxxxx X. Xxxxxxx
Vice President
