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EXHIBIT 10(u)-3
AMENDMENT TO
REVOLVING CREDIT AGREEMENT
BY AND AMONG
MOBILE GAS SERVICE CORPORATION,
as Borrower,
and
AmSOUTH BANK OF ALABAMA, as Agent,
and
AmSOUTH BANK OF ALABAMA, REGIONS BANK,
WHITNEY BANK OF ALABAMA, BANK OF MOBILE
SOUTHTRUST BANK, N.A., and COMMONWEALTH
NATIONAL BANK,
as Lenders
* * *
$20,000,000
* * *
July 15, 1997
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AMENDMENT TO REVOLVING CREDIT AGREEMENT
This Amendment to Revolving Credit Agreement ("this Amendment") is entered
into as of the 15th day of July, 1997, by and among Mobile Gas Service
Corporation, as Borrower ("Borrower"), AmSouth Bank of Alabama, as Agent for
Lenders ("Agent"), and AmSouth Bank of Alabama, Regions Bank (successor to
First Alabama Bank), Whitney Bank of Alabama, Bank of Mobile, SouthTrust Bank,
N.A., and Commonwealth National Bank, as Lenders (collectively, "Lenders").
W I T N E S S E T H :
WHEREAS, Borrower, Agent and Lenders entered into a Revolving Credit
Agreement (the "Revolving Credit Agreement") as of the 17th day of July, 1995;
WHEREAS, by Amendment to Revolving Credit Agreement dated as of July 15,
1996, Borrower, Agent and the Lenders amended the Revolving Credit Agreement by
extending the Commitment Termination Date, as defined in Section 1.14 of the
Revolving Credit Agreement; and
WHEREAS, Borrower, Agent and Lenders desire to further amend the Revolving
Credit Agreement by further extending the Commitment Termination Date, as
defined in Section 1.14 of the Revolving Credit Agreement.
NOW, THEREFORE, in consideration of the mutual promises herein
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contained, and for other valuable consideration, the parties hereto agree as
follows:
1. Section 1.14 of the Revolving Credit Agreement is amended to read in
its entirety, as follows:
Section 1.14. "Commitment Termination Date" shall mean the earlier of
(i) July 17, 1999, or, if such date is not a business day, the business day
next succeeding such date, unless the Lenders and Borrower shall agree in
writing by July 17, 1998 to the extension of the date of payment of the
indebtedness evidenced by the Notes for one additional period of one (1) year,
in which event the date of payment of the indebtedness evidenced by the Notes,
as thereby extended, shall be the Commitment Termination Date, or (ii) the date
on which the Commitment is terminated by either Borrower or Lenders pursuant to
the provisions hereof.
2. The Revolving Credit Agreement, as hereby amended, remains in full
force and effect.
3. This Amendment may be executed in any number of counterparts, all of
which taken together shall constitute one and the same agreement, and any of
the parties hereto may execute this Amendment by signing any such counterpart.
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
day and year first above written.
BORROWER
MOBILE GAS SERVICE CORPORATION
/s/ Xxxx X. Xxxxx
By: Xxxx X. Xxxxx
Title: President and Chief Executive Officer
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/s/ Xxxxxxx X. Xxxxxxx
By: Xxxxxxx X. Xxxxxxx
Title: Vice President, Chief Financial Officer
and Treasurer
AGENT
AmSOUTH BANK, as Agent for Lenders
Pursuant to the terms of the Revolving
Credit Agreement
/s/ X. X. Xxxxx
By: X. X. Xxxxx
Title: Assistant Vice President
LENDERS
AmSOUTH BANK
/s/ X. X. Xxxxx
By: X. X. Xxxxx
Title: Assistant Vice President
REGIONS BANK
(successor to First Alabama Bank)
/s/ Xxxxx X. Xxxxxxxx
By: Xxxxx X. Xxxxxxxx
Title: Senior Vice President
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WHITNEY BANK OF ALABAMA
/s/ Xxxx X. Xxxx
By: Xxxx X. Xxxx
Title: Vice President
BANK OF MOBILE
/s/ Xxxxxx X. Xxxxxx, Xx.
By: Xxxxxx X. Xxxxxx, Xx.
Title: Vice President
SOUTHTRUST BANK, N.A.
Xxxxx X. Xxxxxxxx
By: Xxxxx X. Xxxxxxxx
Title: Senior Vice President
COMMONWEALTH NATIONAL BANK
/s/ Xxxxxxx X. Xxxxxxx
By: Xxxxxxx X. Xxxxxxx
Title: Senior Vice President
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