Exhibit 10.8
AMENDING AGREEMENT
THIS AGREEMENT dated as of the 23rd day of January, 0000,
X X X X X X X:
ROYAL OAK MINES INC.
(hereinafter called the "Corporation")
OF THE FIRST PART
-AND-
XXXXXXX, XXXXX & CO.
(hereinafter called the "Holder")
OF THE SECOND PART
WHEREAS the Corporation issued to the Holder a Senior Secured Debenture
(the "Debenture") dated as of December 31, 1997 in the principal amount of
U.S.$16,100,000;
AND WHEREAS the Corporation and the Holder wish to amend the Debenture
on the terms hereinafter set forth;
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the
premises herein contained and other good and valuable consideration, the
receipt and adequacy of which consideration are hereby acknowledged, the
parties hereto agree as follow:
1. In paragraph (g) of the definition of "Permitted Encumbrances" in
Schedule "A" to the Debenture, the reference to "Cdn. $5,000,000" is hereby
amended and revised to "Cdn. $10,000,000".
2. Subparagraph (i) of section 4.3.7 of the Debenture is hereby amended by
adding the following words in the last line thereof after the words
"Subordinated Note Trust Indenture":
"together with additional interest if and when due of one-half of one
percent (.50%) per annum for the period following 18 months after the date
hereof".
3. The foregoing amendments shall be effective as of and from the date
hereof.
4. In all other respects the parties hereto confirm the terms of the
Debenture.
Page 2
5. This Agreement may be signed in counterparts and each of such
counterparts shall constitute an original document and such counterparts,
taken together, shall constitute one and the same instrument.
IN WITNESS WHEREOF this Agreement has been executed by the parties
hereto as of the date first above written.
ROYAL OAK MINES INC.
By: /s/ Xxxxx X. Xxxx
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Name : Xxxxx X. Xxxx
Title: Chief Financial Officer
XXXXXXX, SACHS & CO.
By:
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Name :
Title:
