November 1, 1995
Chemical Bank
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xx. Xxxxxx Xxxxxxx
The Boatmen's National Bank of St. Louis
One Boatmen's Plaza
000 Xxxxxx Xxxxxx
Xx. Xxxxx, Xxxxxxxx 00000-0236
Attention: Xx. Xxxxxx Xxxxxx
Mercantile Bank of St. Louis National Association
Eighth & Locust, 12th Floor
P.O. Box 524
St. Louis, Missouri 63101
Attention: Xx. Xxxx X. Xxxxxxx
Ladies and Gentlemen:
Re: Further Extension of line of credit agreement dated
October 18, 1993, as amended and extended by letters
dated April 18, 1994, August 18, 1994, October 18, 1994,
March 1, 1995, May 23, 1995 and September 1, 1995 among
Laclede Gas Company ("Laclede"), Chemical Bank
("Chemical"), The Boatmen's National Bank of St. Louis
("Boatmen's") and Mercantile Bank of St. Louis National
Association ("Mercantile") (said banks being hereinafter
collectively called the "Banks" and said line of credit
agreement, as thus amended and extended, being
hereinafter called the "Line of Credit Agreement").
This amendatory agreement will confirm our agreement to
further extend the above-referenced Line of Credit Agreement from
November 1, 1995 to March 1, 1996 on the same terms and conditions
set forth in the above-referenced Line of Credit Agreement; subject
only to the terms and modifications expressly set forth in numbered
Paragraphs 1 through 5 below, each of which Paragraphs shall be
effective on November 1, 1995.
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Chemical Bank
The Boatmen's National Bank of St. Louis
Mercantile Bank of St. Louis National Association
November 1, 1995
2
1. Maximum Amounts of Advances. The combined aggregate
principal amount of Advances at any time outstanding from any
Bank under the Line of Credit Agreement shall not, on or after
November 1, 1995, exceed the amount set forth opposite the
name of such Bank below (such Bank's "Maximum Amount"), and
shall be in a combined aggregate principal amount at any time
outstanding which shall not exceed $50 million:
Name of Bank Maximum Amount
Chemical $25,000,000
Boatmen's $12,500,000
Mercantile $12,500,000
2. New Termination Date. The phrase "Termination Date"
as defined in the Line of Credit Agreement is hereby amended
from November 1, 1995 to March 1, 1996. Accordingly, all
references in the Line of Credit Agreement to the Termination
Date shall hereafter refer to March 1, 1996.
3. New Form of Note. Each executed Note in the form of
Exhibit A to the Line of Credit Agreement, as previously
amended, as to which no sums are then due and payable
thereunder shall be returned to Laclede immediately for
cancellation, upon the holder Bank's receipt of an executed
Note to that Bank in the form attached as Exhibit A to this
amendatory agreement.
4. Absence of Material Adverse Change. The making of
Advances under the Line of Credit Agreement as amended by this
letter agreement is also subject to the absence of any
material adverse change since September 30, 1995, in the
financial condition of Laclede.
5. Interest Rate on LIBO Rate Advances; Facility Fee
Rate. The interest rate on LIBO Rate Advances and the
Facility Fee shall remain as specified respectively in
Paragraphs 3 and 4 of the letter of Amendment and Extension
dated August 18, 1994.
6. Ratification of Remainder of Line of Credit
Agreement. Subject only to the amendments expressly set forth
in numbered Paragraphs 1 through 5 above, the Line of Credit
Agreement is hereby ratified, confirmed and approved in all
respects.
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Chemical Bank
The Boatmen's National Bank of St. Louis
Mercantile Bank of St. Louis National Association
November 1, 1995
3
Please indicate your acceptance of this amendment and extension
by signing in the appropriate space below and returning to Laclede
Gas Company the enclosed duplicate of the original of this letter.
This letter may be executed in counterparts, each of which shall be
an original, and all of which when taken together, shall constitute
one agreement which shall amend and extend the Line of Credit
Agreement as hereinbefore provided.
Very truly yours,
LACLEDE GAS COMPANY
By: /s/Xxxxxx X. Xxxxxxxxx
Name: Xxxxxx X. Xxxxxxxxx
Title: X.X.-Xxxxx. & Asst. Secy.
Accepted and Agreed to as of
the date first written above.
CHEMICAL BANK
By: /s/Xxxx X. Xxxxxx
Name: Xxxx X. Xxxxxx
Title: Assistant Vice President
THE BOATMEN'S NATIONAL BANK OF ST. XXXXX
By: /s/Xxxxxx X. Xxxxxx
Name: Xxxxxx X. Xxxxxx
Title: Vice President
MERCANTILE BANK OF ST. LOUIS NATIONAL ASSOCIATION
By: /s/Xxxx Xxxxxxx
Name: Xxxx Xxxxxxx
Title: Vice President
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