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EXHIBIT 10.12.2
AMENDMENT NO. 1 TO CREDIT AGREEMENT
This Amendment No. 1 dated as of November 25, 1996 ("Amendment") is
among Xxxxxxxxxx-Xxxxxxx International, Inc., a Delaware corporation ("Company"
or "Guarantor"), Xxxxxxxxxx-Xxxxxxx France S.A.R.L., a French corporation
("SMF"), PDM Industries, S.N.C., a French corporation ("PDM", together with the
Company and SMF, the "Borrowers"), the banks party hereto ("Banks") and Societe
Generale, as agent for the Banks ("Agent").
INTRODUCTION
A. The Borrowers, the Guarantor, the Banks and the Agent
are party to the Credit Agreement dated as of November 27, 1995.
B. The Borrowers have requested that the Banks agree
to extend the Maturity Date of the U.S. Revolving Commitments and the French
Revolving Commitments under the Credit Agreement from November 25, 1996 to
November 24, 1997.
THEREFORE, the Borrowers, the Guarantor, the Agent and the Banks
hereby agree as follows:
Section 1. Definitions; References. Unless otherwise defined in
this Amendment, terms used in this Amendment which are defined in the Credit
Agreement shall have the meanings assigned to such terms in the Credit
Agreement.
Section 2. Amendments. Section 1.01 of the Credit Agreement is
hereby amended by deleting the date "November 25, 1996" in the definition of
"Maturity Date" and replacing it with the date "November 24, 1997".
Section 3. Representations and Warranties. The Borrowers and the
Guarantor represent and warrant to the Agent and the Banks that:
(a) Any representations and warranties set forth in the
Credit Agreement and in the other Credit Documents (other than those made as of
a specific date) are true and correct in all material respects as of the date
of this Agreement;
(b) (i) The execution, delivery and performance of this
Agreement are within the corporate power and authority of the Borrowers and the
Guarantor and have been duly authorized by appropriate proceedings and (ii)
this Agreement constitutes a legal, valid, and binding obligation of the
Borrowers and the Guarantor enforceable in accordance with its terms, except as
limited by applicable bankruptcy, insolvency, reorganization, moratorium, or
similar laws affecting the rights of creditors generally and general principles
of equity.
(c) As of the effectiveness of this Agreement, no Default
or Event of Default has occurred and is continuing; and
(d) As of the effectiveness of this Agreement, no
Potential Phaseout Event has occurred.
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Section 4. Effectiveness. This Agreement shall become effective
and the Credit Agreement shall be amended as provided in this Agreement upon the
occurrence of the following conditions precedent:
(a) The Borrowers, the Guarantor, the Agent, and the Banks
shall have delivered duly and validly executed originals of this Agreement to
the Agent; and
(b) The representations and warranties in this Agreement
shall be true and correct in all material respects.
Section 5. Choice of Law. This Agreement shall be governed by
and construed and enforced in accordance with the laws of the State of New York.
Section 6. Counterparts. This Agreement may be signed in any
number of counterparts, each of which shall be an original.
EXECUTED as of the 25th day of November, 1996.
BORROWERS:
XXXXXXXXXX-XXXXXXX INTERNATIONAL, INC.
By: /s/ XXXXX X. XXXXXXXX
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Name: Xxxxx X. Xxxxxxxx
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Title: Chairman & CEO
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XXXXXXXXXX-XXXXXXX FRANCE S.A.R.L.
By: /s/ XXXX-XXXXXX LEHETET
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Name: Xxxx-Xxxxxx LeHetet
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Title: Manager (Gerant)
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PDM INDUSTRIES S.N.C.
By: /s/ XXXX-XXXXXX LEHETET
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Name: Xxxx-Xxxxxx LeHetet
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Title: Legal Representative of Papeteries de Mauduit S.A.
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(PDM S.A. being Manager or Gerant of PDM Industries
S.N.C.)
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GUARANTOR:
XXXXXXXXXX-XXXXXXX INTERNATIONAL, INC.
By: /s/ XXXXX X. XXXXXXXX
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Name: Xxxxx X. Xxxxxxxx
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Title: Chairman & CEO
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AGENT
SOCIETE GENERALE
By: /s/ XXXXXXX X. XXXXX
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Name: Xxxxxxx X. Xxxxx
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Title: Vice President
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BANKS
SOCIETE GENERALE
By: /s/ XXXXXXX X. XXXXX
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Name: Xxxxxxx X. Xxxxx
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Title: Vice President
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BANQUE NATIONALE DE PARIS
By: /s/ GAISNON FRANCOIS
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Name: Gaisnon Francois
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Title: Sous Directeur
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BANQUE FRANCAISE DUE COMMERCE EXTERIEUR
By: /s/ XXXXXXX XX XXXXXXXX
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Name: Xxxxxxx xx Xxxxxxxx
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Title: Directeur Adjoint
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By: /s/ XXXXXX XXXXXXX
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Name: Xxxxxx Xxxxxxx
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Title: Attache de Direction
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CREDIT NATIONAL
By: /s/ XXXXXX LOT
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Name: Xxxxxx Lot
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Title: Executive Vice President
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Dept. of Financing for Major Corporations
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SUNTRUST BANK, ATLANTA
By: /s/ XXXX XXXXX
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Name: C. Xxxxxxx Xxxxx Jr.
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Title: Bank Officer
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By: /s/ R. XXXXXXX XXXXXX
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Name: R. Xxxxxxx Xxxxxx
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Title: Vice President
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THE BANK OF NOVA SCOTIA
By: /s/ XXX X. XXXXXXXXX
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Name: Xxx X. Xxxxxxxxx
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Title: Relationship Manager
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WACHOVIA BANK OF GEORGIA, N.A.
By: /s/ XXXXXXXXX X. XXXXXX
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Name: Xxxxxxxxx X. Xxxxxx
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Title: Vice President
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