AMENDMENT
AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT
AGREEMENT BETWEEN PLASMA-THERM, INC., A FLORIDA CORPORATION
("BORROWER"), AND NATIONSBANK OF FLORIDA, N.A., A NATIONAL
BANKING ASSOCIATION ("LENDER"), DATED JANUARY 19, 1995
("CREDIT AGREEMENT").
WHEREAS, Borrower and Lender entered into the Credit
Agreement on January 19, 1995.
WHEREAS, on the date hereof, Lender has extended to
Borrower a real estate construction/term loan in the principal
amount of $3,375,000.00 (the "Construction Loan"). The
proceeds of the Construction Loan will be used by the Borrower
to construct a 60,639.50 square foot (MOL)
office/manufacturing facility, including leasehold
improvements, on certain property located in Pinellas County,
Florida, and more particularly described in Exhibit "1"
attached hereto and by this reference made a part hereof (the
"Property").
WHEREAS, Borrower and Lender desire to modify some of the
terms and conditions set forth in the Credit Agreement, affirm
that the terms of the Credit Agreement apply with full force
and effect to the Construction Loan, and otherwise ratify and
reaffirm the terms and conditions of the Credit Agreement.
NOW, THEREFORE, it is agreed as follows:
1. Section 1.y. of the Credit Agreement is hereby
amended to add to the definition of "Loans" that certain
Promissory Note in the original principal amount of
$3,375,000.00 dated August 14, 1995, executed by Borrower in
favor of Lender to evidence the Construction Loan.
2. Section 1.aa. of the Credit Agreement is hereby
amended to add to the definition of "Notes" that certain
Promissory Note in the original principal amount of
$3,375,000.00 dated August 14, 1995, executed by Borrower in
favor of Lender to evidence the Construction Loan.
3. Section 2 of the Credit Agreement is hereby amended
to add the following loan:
III. Construction Loan. Subject to the
terms and conditions stated herein, and in
Lender's loan commitment letter to
Borrower, dated May 1, 1995, as amended by
letter dated July 25, 1995, Lender shall
extend to Borrower a real estate construc-
tion/term loan in the principal amount of
$3,375,000.00.
4. Section 5 of the Credit Agreement is hereby amended
to add the following after letters a. and b.:
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Amendment
c. Construction Loan: To finance the
construction of a 60,639.50 square foot
(MOL) office/manufacturing facility,
including leasehold improvements, on
certain property located in Pinellas
County, Florida, and more particularly
described in Exhibit "1" attached hereto
and by this reference made a part hereof
(the "Property").
5. Section 6 of the Credit Agreement is hereby amended
to add the following affirmative covenants of Borrower:
x. Maintain a ratio of Total Liabilities
to Tangible Net Worth of not less than 1.0
to 1.0;
y. Maintain a consolidated Coverage
Ratio of not less than 1.50 to 1.0 at
fiscal year end November 30, 1995, and of
not less than 2.0 to 1.0 at fiscal year
end November 30, 1996 and each subsequent
fiscal year end until the Loan is paid in
full. The Coverage Ratio shall be defined
as Net Income + Depreciation + Amortiza-
tion + Interest Expense + Non-Recurring
Expenses, minus Non-Recurring Income,
divided by Current Maturities of Long Term
Debt and Capitalized Leases + Interest
Expense.
z. Maintain a Quick Ratio of not less
than 1.25 to 1.0. The Quick Ratio shall
be defined as Cash + Accounts Receivable,
divided by Current Liabilities.
6. Section 7.k. is hereby deleted in its entirety and
the following paragraph is inserted in lieu thereof:
k. Allow its Coverage Ratio to be less
than that required in Section 6.y.
7. Lender and Borrower hereby agree that all terms and
conditions set forth in the Credit Agreement, as amended by
this Amendment, shall apply with full force and effect to the
Construction Loan as if the Construction Loan had been
extended on the date of the Credit Agreement.
8. Except as otherwise set forth herein, all terms,
conditions and covenants of the Credit Agreement shall remain
the same and shall be fully binding upon and enforceable by
the Lender and Borrower pursuant to their terms.
IN WITNESS WHEREOF, Borrower and Lender have executed
this Amendment the day and year first above written.
Signed, sealed and delivered
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Amendment 2
in the presence of: PLASMA-THERM, INC., a Florida
corporation
By: /s/Xxxxxx X. Xxxxxxxxx
/s/Xxxx X. Xxxxxxxxx Xxxxxx X. Xxxxxxxxx
(Signature of Witness) President
Xxxx X. Xxxxxxxxx
(Print Name of Witness)
(CORPORATE SEAL)
/s/Xxxxx X. Xxxxxxxx
(Signature of Witness)
Xxxxx X. Xxxxxxxx
(Print Name of Witness)
NATIONSBANK OF FLORIDA, N.A., a
national banking association
/s/Xxxxxxxxx X. Xxxxxxx By: /s/Xxxxx X. Xxxxxx
(Signature of Witness) Xxxxx X. Xxxxxx, Xx.
Xxxxxxxxx X. Xxxxxxx (Print Name of Officer)
(Print Name of Witness) Its Vice President
President
/s/Xxxx Xx Xxxxxx
(Signature of Witness) (CORPORATE SEAL)
Xxxx Xx Xxxxxx
(Print Name of Witness)
STATE OF FLORIDA )
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me
this 14th day of August, 1995, by XXXXXX X. XXXXXXXXX, as
the President of PLASMA-THERM, INC., a Florida corporation, on
behalf of the corporation. He is personally known to me
or has produced drivers license as identification.
/s/Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxx
(SEAL) (Print Name of Notary Public)
Notary Public
My Commission Expires:
XXXXX X. XXXXXXX
MY COMMISSION #CC483663 EXPIRES
AUGUST 3, 1999
BONDED THRU XXXX XXXX INSURANCE, INC.
STATE OF FLORIDA )
COUNTY OF PINELLAS )
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Amendment 3
The foregoing instrument was acknowledged before me
this 14th day of August, 1995, by Xxxxx X. Xxxxxx, Xx., as
the _________________________ of NATIONSBANK OF FLORIDA, N.A.,
a national banking association, on behalf of the association.
He or she is personally known to me or has
produced drivers license as identification.
/s/Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxx
(SEAL) (Print Name of Notary Public)
Notary Public
My Commission Expires:
XXXXX X. XXXXXXX
MY COMMISSION #CC483663 EXPIRES
AUGUST 3, 1999
BONDED THRU XXXX XXXX INSURANCE, INC.
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Amendment 4
EXHIBIT "I"
Legal Description
Lots 28, 29, 30, 31 and the Northerly 130 feet of Lot 27, all
in Block C of METROPOINTE COMMERCE PARK PHASE II, according to
the map or plat thereof recorded in Plat Book 103, pages 25
and 26, Public Records of PINELLAS County, Florida.
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Amendment
