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EXHIBIT 4.1.2
SECOND AMENDMENT TO SECURITY AGREEMENT
THIS AMENDMENT is made and entered into on this the 3rd day of July,
1996, by and between X.X.X. TRANSPORT, INC., an Arkansas corporation, whose
address is Xxxxxxx 000 Xxxx, X.X. Xxx 000, Xxxxxxxxx, Xxxxxxxx 00000, party of
the first part, hereinafter called "Grantor," and FIRST TENNESSEE BANK NATIONAL
ASSOCIATION, a national banking association, whose address is 000 Xxxxxxx
Xxxxxx, Xxxxxxx, Xxxxxxxxx 00000, Attention: Commercial Finance Division, party
of the second part, hereinafter called the "Bank."
Recitals of Fact
Grantor as Debtor, has heretofore made, executed and delivered to the
Bank, as Secured Party, that certain Security Agreement ("Security Agreement")
bearing date of the 26th day of July, 1994, as amended by First Amendment to
Security Agreement dated June 27, 1995, for the purpose of securing the payment
of certain Obligations, as mentioned and defined in the Security Agreement.
Grantor has this day made, executed and delivered to the Bank its
additional promissory note in the principal sum of Five Million Dollars
($5,000,000.00); and as a result thereof, the parties desire to modify and amend
the Security Agreement as hereinafter provided.
NOW, THEREFORE, for and in consideration of the premises, as set forth
in the Recitals of Fact, and other good and valuable considerations, the receipt
and sufficiency of which are hereby acknowledged, it is agreed by the parties as
follows:
Agreements
1. Paragraph 3(a) of the Security Agreement is hereby modified and
amended to read as follows:
"(a) The full and prompt payment, when due, of the
indebtednesses (and interest thereon) evidenced and to be evidenced by
those three (3) certain promissory notes in the aggregate principal sum
of Fifteen Million Dollars ($15,000,000.00), one of said notes bearing
date of the 26th day of July, 1994, and being in the principal sum of
Seven Million Five Hundred Thousand Dollars ($7,500,000.00), one of
said notes bearing date of the 27th day of June, 1995, and being in the
principal sum of Two Million Five Hundred Thousand Dollars
($2,500,000.00), and the third of said notes bearing date of the 3rd
day of July, 1996, and being in the principal sum of Five Million
Dollars ($5,000,000.00), all of said notes being executed by the
Grantor and being payable to the order of the Bank; and any and all
renewals, modifications, restatements, replacements or extensions of
any of said notes, in whole or in part;"
2. All references in the Security Agreement to the Loan Agreement shall
be deemed to be references to the Loan Agreement dated July 26, 1994, as amended
by Amendments dated, respectively, June 27, 1995 and July 3, 1996.
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3. All terms and provisions of the Security Agreement, as heretofore
amended, which are inconsistent with the terms and provisions of this Amendment,
are hereby modified and amended to conform herewith; and, as modified and
amended hereby, the Security Agreement is hereby ratified, approved and
confirmed by the parties hereto.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed in Memphis, Tennessee, by their respective officers, duly authorized so
to do, on this the day and year first above written.
ATTEST: X.X.X. TRANSPORT, INC.
/s/ Xxxxx X. Xxxxxxx By: /s/ Xxxxxx X. Xxxxxx
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Secretary President
GRANTOR
FIRST TENNESSEE BANK NATIONAL
ASSOCIATION
By:
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Senior Vice-President
BANK
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