September 29, 2000
LONE STAR STEEL COMPANY
T&N LONE STAR WAREHOUSE CO.
LONE STAR LOGISTICS, INC.
00000 X. Xxxxxx Xxxxxxx, Xxxxx 000
Xxxxxx, Xxxxx 00000
Ladies and Gentlemen:
We refer you to the Financing Agreement between you and us, as Agent and Lender,
dated March 12, 1999 as supplemented and amended herein (the "Financing
Agreement").
This letter shall confirm that, pursuant to mutual consent and understanding,
effective immediately, the Financing Agreement shall be, and hereby is,
amended as follows:
The last sentence of sub-paragraph 7.11(b)(ii) in Section 7. REPRESENTATIONS,
WARRANTIES AND COVENANTS is deleted in its entirety and replaced with the
following text:
"7.11(b)(ii) $16,000,000.00 for the Fiscal Year ending
December 31, 2000, and $10,000,000.00 for each Fiscal Year
thereafter."
In consideration of (i) the Lenders execution of this Amendment Letter the
Companies agree to pay the Agent on behalf of the Lenders an Accommodation Fee
of $15,000 and (ii) the preparation of this agreement by CITBC's in-house
legal department the Companies agree to pay to CITBC a Documentation Fee of
$200.00. Such fees shall be due and payable in full on the date hereof and
may, at the Agents option, be charged to the Companies Revolving Loan Account
on the due date thereof.
Except as herein specifically provided, the Financing Agreement remains in
full force and effect in accordance with its terms, and no other changes in
the terms or provisions of the Financing Agreement are intended or implied.
If you are in agreement with the foregoing, please so indicate by signing and
returning to us the enclosed copy of this letter.
Very truly yours,
THE CIT GROUP/BUSINESS
CREDIT, INC., AS AGENT AND LENDER
By /s/ Xxxx Xxxxx
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Title: AVP/AE
Amendment to Financing Agreement
September 29, 2000
Page 2
Read and Agreed to:
LONE STAR STEEL COMPANY
By /s/ Xxxxxxx X. Xxxxxxx September 28, 2000
---------------------------------
Title: Vice President & Treasurer
T&N LONE STAR WAREHOUSE CO.
By /s/ Xxxxxxx X. Xxxxxxx September 28, 2000
---------------------------------
Title: Vice President & Assistant Treasurer
LONE STAR LOGISTICS, INC.
By /s/ Xxxxxxx X. Xxxxxxx September 28, 2000
---------------------------------
Title: Vice President & Assistant Treasurer
