Ex. 10.1.4
[EXECUTION COPY]
AMENDMENT XX. 0
XXXXXXXXX XX. 0 (the "AMENDMENT") dated as of April 23, 1999 of the
Credit Agreement dated as of April 7, 1994 and amended and restated as of
March 15, 1999 (the "Credit Agreement"), among APPLIED EXTRUSION
TECHNOLOGIES, INC. (the "COMPANY"), the LENDERS party thereto (the "LENDERS")
and THE CHASE MANHATTAN BANK, as Administrative Agent (the "ADMINISTRATIVE
AGENT").
W I T N E S S E T H :
WHEREAS, the Company and the Lenders have agreed to increase the maximum
aggregate amount of letter of credit liabilities from $5,000,000 to
$10,000,000;
NOW, THEREFORE, the parties hereto agree as follows:
SECTION 1. DEFINITIONS; REFERENCES. Unless otherwise specifically
defined in the recitals above, each term used herein which is defined in the
Credit Agreement shall have the meaning assigned to such term in the Credit
Agreement.
SECTION 2. AMENDMENT OF SECTION 2.02. Section 2.02(a) of the Credit
Agreement is amended by replacing the number "$5,000,000" with the number
"$10,000,000".
SECTION 3. REPRESENTATIONS OF COMPANY. The Company represents and
warrants that (i) the representations and warranties of the Company and its
Subsidiaries made in each Basic Document shall be true (or, in the case of
Basic Documents which are not Financing Documents, true in all material
respects) on and as of the Amendment Effective Date (as hereinafter defined)
to the same extent as they would be required to be under Section 7.01(b) on
the occasion of any Loan or issuance of any Letter of Credit and (ii) no
Default will have occurred and be continuing on such date.
SECTION 4. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
SECTION 5. COUNTERPARTS; EFFECTIVENESS. This Amendment may be signed in
any number of counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument.
This Amendment shall become effective as of the date first above written (the
"AMENDMENT EFFECTIVE DATE") when the Administrative Agent shall have received
from each of the Company and the Majority Lenders a counterpart hereof signed
by such party or facsimile or other written confirmation (in form satisfactory
to the Administrative Agent) that such party has signed a counterpart hereof.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date first above written.
APPLIED EXTRUSION TECHNOLOGIES, INC.
By /s/ Xxxxxx X. Xxxxxx XX
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Name: Xxxxxx X. Xxxxxx XX
Title: Vice President and
General Counsel
THE CHASE MANHATTAN BANK
By /s/ Xxxxx Xxxxxxxx
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Name: Xxxxx Xxxxxxxx
Title: Managing Director
LASALLE BUSINESS CREDIT, INC.
By /s/ Xxxx X. Xxxxx
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Name: Xxxx X. Xxxxx
Title: Vice President
FLEET NATIONAL BANK
By /s/ H. Xxxxxx Xxxxxxxxx
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Name: H. Xxxxxx Xxxxxxxxx
Title: Vice President
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PNC BANK, N.A.
By /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Vice President
FIRST UNION NATIONAL BANK
By /s/ Xxxx X. Xxxxxxx
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Name: Xxxx X. Xxxxxxx
Title: Vice President
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