Amendment No. 4
To
Credit Agreement
Dated as of March 1, 1998
Between
MK GOLD COMPANY, as Borrower
And
LEUCADIA NATIONAL CORPORATION, as Lender
This Amendment No. 4, dated as of April 1, 2001, hereby amends the
Credit Agreement entered into as of March 1, 1998, as amended pursuant to
Amendment No. 1, dated as of March 1, 2000, Amendment No. 2, dated as of October
17, 2000 and Amendment No. 3, dated as of December 31, 2000 (the "Credit
Agreement"), between MK GOLD COMPANY, a Delaware corporation ("Borrower"), and
LEUCADIA NATIONAL CORPORATION, a New York corporation ("Lender").
Borrower and Lender agree as follows:
1. Amendments.
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(a) The definition of "Termination Date" set forth in Section
1.1, "Defined Terms," of the Credit Agreement is hereby amended in its entirety
to read as follows:
""Termination Date" shall mean July 1, 2002, or such earlier
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date as may be determined in accordance with subsection
2.1(e)."
(b) Section 6.5(b) of the Credit Agreement is hereby
amended in its entirety to read as follows:
"Debt to Equity Ratio. Borrower shall not permit the ratio of
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(i) Consolidated Indebtedness to (ii) Consolidated Net Worth
at any time to exceed 1.35 to 1.0."
2. No Other Amendments. Except as expressly provided in this
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Amendment No. 3, the Credit Agreement is not amended, changed or modified, and
the Credit Agreement remains in full force and effect.
3. Effective Date. The effective date of this amendment is April
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1, 2001.
4. Counterparts. This amendment may be executed in two or more
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counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
[signature page follows]
IN WITNESS WHEREOF, Borrower and Lender have caused this Amendment No.
4 to be duly executed as of the date first written above.
Borrower: MK GOLD COMPANY,
a Delaware corporation
By: /s/ Xxxx Xxxxxx
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Name: Xxxx Xxxxxx
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Title: CFO
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Lender: LEUCADIA NATIONAL CORPORATION,
a New York corporation
By: /s/ Xxxxxx X. Orlando
---------------------------------
Name: Xxxxxx X. Orlando
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Title: V.P.
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