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EXHIBIT 10.17
THIRD AMENDMENT TO
AMENDED AND RESTATED LOAN AGREEMENT
DATED AS OF SEPTEMBER 30, 1996
THIS THIRD AMENDMENT TO AMENDED AND RESTATED LOAN AGREEMENT (the "Third
Amendment") dated as of the 24th day of September, 1998, by and among MAXCO,
INC., a Michigan Corporation ("Borrower") and COMERICA BANK, a Michigan banking
corporation ("Bank").
W I T N E S S E T H
WHEREAS, Borrower and Bank entered into a certain Amended and Restated
Loan Agreement dated September 30, 1996, as amended by First Amendment thereto
dated as of August 1, 1997, as further amended by Second Amendment thereto dated
June 24, 1998 (the "Agreement");
WHEREAS, Borrower and Bank now desire to amend the Termination Date of
the Agreement and Schedule 5.12 annexed thereto;
NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained, Borrower and Bank hereby agree as follows:
1. In Sub-Section 1.1 of Section 1 of the Agreement, the
following definition is hereby deleted in its entirety and replaced by the
following:
"Termination Date" shall mean, as to the Revolving Credit Loan
and the Revolving Ersco Acquisition Loan, August 1, 2000 (or such
earlier date on which the Borrower shall permanently terminate the
Bank's commitment under Section 2.8.1 of this Agreement).
2. Schedule 5.12 annexed to the Agreement and reference in
Section 5.12 of Section 5 of the Agreement is replaced in its entirety by the
new Schedule 5.12 which is attached hereto and is by this reference made a part
hereof.
IN WITNESS WHEREOF, the Borrower and the Bank have caused this Third
Amendment to be executed by their duly authorized officers as of the day and
year first written above.
MAXCO, INC.
By /s/ Xxxxxxx Xxxxxxx
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Xxxxxxx Xxxxxxx
Its Vice President
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COMERICA BANK
By /s/ Xxxxx X. Xxxxxxxx
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Xxxxx X. Xxxxxxxx
Its Vice President
The Undersigned Guarantors hereby acknowledge and consent to the above
Third Amendment.
Ersco Corporation Pak-Sak Industries, Inc.
By /s/ Xxxxxxx Xxxxxxx By /s/ Xxxxxxx Xxxxxxx
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Xxxxxxx Xxxxxxx Xxxxxxx Xxxxxxx
Its Treasurer Its Treasurer
Wisconsin Wire & Steel, Inc. Atmosphere Annealing, Inc.
By /s/ Xxxxxxx Xxxxxxx By /s/ Xxxxxxx Xxxxxxx
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Xxxxxxx Xxxxxxx Xxxxxxx Xxxxxxx
Its Treasurer Its Treasurer
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