EXHIBIT 10.5
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FOURTH AMENDMENT TO SENIOR REVOLVING LOAN AGREEMENT
THIS AMENDMENT, made and entered into this first day of March, 1996, by and
between CONSOLIDATION COAL COMPANY, a Delaware corporation ("Borrower") and
XXXXXX GUARANTY TRUST COMPANY OF NEW YORK ("Bank").
WITNESSETH:
WHEREAS, Borrower and Bank are parties to a Senior Revolving Loan Agreement
dated as of December 23, 1993 (the "Loan Agreement"); and
WHEREAS, Borrower and Bank desire to hereby amend the Loan Agreement in
certain respects, effective April 1, 1996; and
WHEREAS, Borrower desires to obtain a Commitment from Bank under the Loan
Agreement pursuant to which Loans, in a maximum aggregate principal amount at
any one time outstanding not to exceed $28,500,000, will be made to Borrower
from time to time prior to the Commitment Termination Date.
NOW, THEREFORE, in consideration of the foregoing premises, and intending
to be legally bound hereby, Borrower and Bank hereby agree as follows:
1. The Loan Agreement is hereby amended in the following respects, effective
April 1, 1996:
A. SECTION 2.2 is amended in its entirety to read as follows:
SECTION 2.2 Total Commitment Amount. The aggregate amount (the "Total
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Commitment Amount") of the Bank's Commitment on any date on or prior to the
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Commitment Termination Date shall be $28,500,000 less all voluntary
reductions to such amount made by the Borrower; provided, however, that all
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such reductions shall require at least three Business Days' prior notice to
the Bank and be permanent, and all partial reductions of such amount in the
case of any voluntary reduction, shall be in minimum amounts of $500,000
and in integral multiples of $100,000 in excess thereof.
2. All other terms and conditions of the Loan Agreement shall remain in full
force and effect.
3. This Fourth Amendment may be executed by the parties hereto in several
counterparts, and all of said counterparts taken together shall be deemed
to constitute one and the same instrument.
IN WITNESS WHEREOF, Borrower and Bank have caused this Fourth Amendment to the
Senior Revolving Loan Agreement to be executed by their respective, duly
authorized officers or representatives as of the day and year first above
written.
CONSOLIDATION COAL COMPANY
By /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, Vice President and
Treasurer of CONSOL Inc.,
Attorney-in-Fact
XXXXXX GUARANTY TRUST COMPANY OF
NEW YORK
By /s/ Xxxxxx Xxxxxxxxx
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Name Xxxxxx Xxxxxxxxx
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Title Vice President
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SCHEDULE TO EXHIBIT 10.5
In addition, to Exhibit 10.5, Consolidation Coal Company entered into
Fourth Amendments to the Senior Revolving Loan Agreements of the same date with
each of the following banks, all of which are substantially identical to Exhibit
10.5 in all material respects:
PNC Bank
The Bank of Nova Scotia
Citibank X.X.
Xxxxxx Bank, N.A.
