January 14, 1999 Darling International Inc. 251 O'Connor Ridge Road, Suite 300 Irving, Texas 75038 Attention: Mr. Brad Phillips Re: Credit Agreement dated as of June 5, 1997 (the "Credit Agreement"), among Darling International Inc. (the "Borrower"),...
Exhibit 99.1
January 14, 1999
Darling International Inc.
000 X'Xxxxxx Xxxxx Xxxx, Xxxxx 000
Xxxxxx, Xxxxx 00000
Attention: Mr. Xxxx Xxxxxxxx
Re: Credit Agreement dated as of June 5, 1997 (the "Credit
Agreement"), among Darling International Inc. (the "Borrower"),
the Banks party thereto (the "Banks"), and BankBoston, N.A., as
Agent (the "Agent"). All capitalized terms used herein, unless
otherwise defined herein, shall have the same meaning as in the
Credit Agreement.
Ladies and Gentlemen:
Subject to the Borrower's and each Obligated Party's execution of this
letter (the "Amendment Letter"), and effective as of the date hereof, the Agent
and each of the undersigned Banks agree to amend that certain Forbearance
Agreement dated as of December 14, 1998, among the Borrower, the Agent, and the
Banks (the "Forbearance Agreement") as follows:
1. In each instance, the date "January 15, 1999" in Section 2.1 of the
Forbearance Agreement is amended to mean "January 22, 1999"; and
2. In each instance, the date "January 15, 1999" in Section 2.2 of the
Forbearance Agreement is amended to mean "January 22, 1999".
THIS AMENDMENT LETTER EMBODIES THE FINAL, ENTIRE AGREEMENT AMONG THE
PARTIES HERETO AND SUPERSEDES ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS,
REPRESENTATIONS, AND UNDERSTANDINGS WHETHER WRITTEN OR ORAL RELATING TO THE
SUBJECT MATTER HEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE
PARTIES HERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. This
Amendment Letter shall be governed by and construed in accordance with the
internal laws of the State of Texas without regard to conflicts of law
principles. This Amendment Letter may be executed in one or more counterparts
and on telecopy
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counterparts each of which shall be deemed an original but all of which together
shall constitute one and the same agreement.
Very truly yours,
BANKBOSTON, N.A.,
as Agent and as a Bank
By: /s/
----------------------------------
Xxxxx Xxxxx, Vice President
Accepted and agreed to
as of January 15, 1999:
BORROWER:
--------
DARLING INTERNATIONAL INC.
INTERNATIONAL PROCESSING CORPORATION
INTERNATIONAL TRANSPORTATION SERVICE, INC.
THE STANDARD TALLOW CORPORATION
DARLING RESTAURANT SERVICES INC.
ESTEEM PRODUCTS INC.
By: /s/
---------------------------------------
Xxxx Xxxxxxxx, Treasurer of each of
the foregoing companies
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BANKS:
-----
CO-AGENTS:
---------
CREDIT LYONNAIS NEW YORK BRANCH
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
COMERICA BANK
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
XXXXX FARGO BANK (TEXAS),
NATIONAL ASSOCIATION
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
OTHER BANKS:
-----------
XXXXXX TRUST AND SAVINGS BANK
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
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THE FIRST NATIONAL BANK OF CHICAGO
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
HIBERNIA NATIONAL BANK
By: /s/
---------------------------------
Name:
-----------------------------
Title:
----------------------------
THE SUMITOMO BANK, LIMITED
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
SUNTRUST BANK, ATLANTA
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
8
CREDIT AGRICOLE INDOSUEZ
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
THE FUJI BANK, LIMITED - NEW YORK
BRANCH
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
THE BANK OF NOVA SCOTIA
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
BANK ONE, TEXAS, N.A.
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
NATIONSBANK, N.A. (successor in
interest by merger to NationsBank of
Texas, N.A.)
By: /s/
----------------------------------
Name:
-----------------------------
Title:
----------------------------
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