BANK OF AMERICA AMENDMENT TO DOCUMENTS
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AMENDMENT NO. THREE TO
BUSINESS LOAN AGREEMENT
This Amendment No. Three (the "Amendment") dated as of April 9, 1998,
is between Bank of America National Trust and Savings Association (the "Bank")
and IMPCO Technologies, Inc. (the "Borrower").
RECITALS
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A. The Bank and the Borrower entered into a certain Business Loan
Agreement dated as of October 7, 1997, as previously amended (the
"Agreement").
B. The Bank and the Borrower desire to further amend the Agreement.
AGREEMENT
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1. DEFINITIONS. Capitalized terms used but not defined in this
Amendment shall have the meaning given to them in the Agreement.
2. AMENDMENTS. The Agreement is hereby amended as follows:
2.1 Paragraph 4.2 of the Agreement is amended to read in its
entirety as follows
"4.2 AVAILABILITY PERIOD. The loan is available in two
disbursements from the Bank between the date of this Agreement
and August 31, 1998, unless the Borrower is in default. The
first disbursement must be for at lease Three Million Three
Hundred Thousand Dollars ($3,300,000) (the 'First
Disbursement'). The second disbursement must be for at least
Six Hundred Ninety-Two Five Hundred Twenty and 78/100 Dollars
($892,620.78) (the `Second Disbursement')."
2.2 Paragraph 4.4(b) of the Agreement is amended to
read in its entirety as follows:
"(b) The Borrower will repay principal as follows:
(i) The Borrower will repay principal of the First
Disbursement in 20 successive quarterly installments
of One Hundred Sixty-Five Thousand Dollars ($165,000)
starting March 5, 1998. On December 5, 2002, the
Borrower will repay the remaining principal balance
plus any interest then due under the First
Disbursement.
(ii) The Borrower will repay principal of the Second
Disbursement in 20 successive quarterly installments
of Thirty-Four Thousand Six Hundred Twenty-Six Dollars
($34,626) starting July 31, 1998. On April 30, 2003,
the Borrower will repay the remaining principal
balance plus any interest then due under the Second
Disbursement."
3. REPRESENTATIONS AND WARRANTIES. When the Borrower signs this
Amendment, the Borrower represents and warrants to the Bank that (a) there is
no event which is, or with notice or lapse of time or both would be a default
under the Agreement, (b) the representations and warranties in the Agreement
are true as of the date of this Amendment as if made on the date of this
Amendment, (c) this Amendment is within the Borrower's powers, has been duly
authorized, and does not conflict with any of the Borrower's organizational
papers, and (d) this Amendment does not conflict with any law, agreement, or
obligation by which the Borrower is bound.
4. EFFECT OF AMENDMENT. Except as provided in this Amendment, all of
the terms and conditions of the Agreement shall remain in full force and
effect.
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This Amendment is executed as of the date stated at the beginning of
this Amendment.
BANK OF AMERICA
National Trust and Savings Association IMPCO Technologies, Inc.
X /s/ Karim Teymouftache X /s/ Xxxxxx X. Xxxxxxxx
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By: Karim Teymouftache, Vice President By: Xxxxxx X. Xxxxxxxx, Chief
Financial Officer
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