CHANGE IN TERMS AGREEMENT UNSECURED REVOLVING TERM LOAN NOTE
Exhibit 10.13
UNSECURED REVOLVING TERM LOAN NOTE
This Change in Terms Agreement (“Agreement”) is entered into as of June 28, 2004, between Deere Credit, Inc., a Delaware corporation (“Deere”) and FCStone Group, Inc., Xxxx Xxx Xxxxxx, Xxxx 00000, an Iowa corporation (the “Borrower”).
Whereas, Deere initially granted Borrower an Unsecured Revolving Term Loan Facility (“Loan”) in the amount of $3,000,000 as governed by a Master Loan Agreement, dated November 3, 2003 and evidenced by an Unsecured Revolving Term Note (“Note”) in the amount of $3,000,000, dated November 3, 2003, and
Whereas, the Borrower requested modifications to the Loan granted by Deere including the request for an increase of $1,000,000 in the amount of the Loan and Deere approved the requested increase making a total amended Loan of $4,000,000, as reflected in a certain Change in Terms Agreement dated March 19, 2003, which increased the amount of the Note to $4,000,000, and
Whereas, the Borrower requested modifications to the Loan granted by Deere including the request for an increase of $1,000,000 in the amount of the Loan and Deere approved the requested increase making a total amended Loan of $5,000,000, as reflected in a certain Change in Terms Agreement dated April 12, 2004, which increased the amount of the Note to $5,000,000, and
Whereas, the Borrower requested modifications to the Loan granted by Deere including the request for an increase of $2,000,000 in the amount of the Loan and Deere approved the requested increase making a total amended Loan of $7,000,000, as reflected in a certain Change in Terms Agreement dated May 24, 2004, which increased the amount of the Note to $7,000,000, and
Whereas, the Borrower has now requested modifications to the Loan granted by Deere including the request for an increase of $500,000 in the amount of the Loan and Deere has approved the requested increase making a total amended Loan of $7,500,000.
Therefore, the amount of the Loan will be increased by the amount of $500,000 making a total Loan of $7,500,000 and the amount of the Note shall be increase to $7,500,000 wherein the principal paragraph of said Note shall be amended to read as follows:
FOR VALUE RECEIVED, FCStone Group, Inc., of West Des Moines, IA (the “Borrower”), promises to pay to the order of Deere Credit, Inc., a Delaware corporation (the “Lender”), at Lender’s office at such place as Lender may designate in writing, the principal sum of Seven Million Five Hundred Thousand and 00/100 DOLLARS ($7,500,000.00), together with interest as provided in this Note, all in lawful money of the United States of America.
Except as expressly changed by this Agreement, the terms of the original obligation or obligations, including all agreements evidenced or securing the obligation(s), remain unchanged and in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized officers as of the date first shown above.
| Deere Credit, Inc. | FCStone Group, Inc. | |||||||
| By: | By: | /s/ XXXXXX X. XXXXXXX | ||||||
| Title: |
Title: |
Exec. V.P. & CFO | ||||||
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