EXHIBIT 10.47
BANK OF MONTREAL AMENDMENT AGREEMENT
To: BANK OF MONTREAL
Commercial Banking Unit MISSISSAUGA MAIN OFFICE
Amendment Number ONE
Branch of Account XXX XXXXXX XXXXX XXXXXXX, XXXXXXXXXXX, XXXXXXX
Date AUGUST 25TH, 1997
WHEREAS the undersigned has entered into a FirstBank OVERDRAFT LENDING
Agreement dated the 12th day of JUNE, 1996 as amended and supplemented from
time to time (the "Agreement") with the Bank of Montreal (the "Bank");
AND WHEREAS the undersigned and the Bank wish to amend the terms of the
Agreement in accordance herewith;
NOW THEREFORE, the undersigned agree with the Bank that the Agreement be
amended effective from the date hereof as follows:
1. Paragraph(s) 1.03 AND 1.04 of the Agreement is/are amended to read as
follows:
1.03 "LOAN LIMIT" SHALL MEAN ---THREE MILLION FIVE HUNDRED THOUSAND
--00/100 CANADIAN DOLLARS ($3,500,000.00) OR SUCH LESSER AMOUNT AS MAY BE
CALCULATED BY THE BANK OF MONTREAL FROM TIME TO TIME UNDER THE LENDING
MARGIN CALCULATION, IF ANY, SET OUT IN THE ADDENDUM HERETO.
1.04 "LOAN RATE" SHALL MEAN A RATE EQUAL TO THE BANK'S PRIME RATE PLUS
QUARTER PER CENT (0.25%) PER ANNUM.
2. The Addendum to the Agreement is amended to read as follows:
All other terms and conditions of the Agreement remain in full force and
effect.
MASCOT TRUCK PARTS INC.
/s/ Xxxxx Xxxxxxxx
--------------------------------------
Name Xxxxx Xxxxxxxx
Title President
/s/ Xxxx X. Xxxx
---------------------------------------
Name Xxxx X. Xxxx
Title Vice President
Page 1 of 1
EXHIBIT 10.47
BANK OF MONTREAL AMENDMENT AGREEMENT
To: BANK OF MONTREAL
Commercial Banking Unit MISSISSAUGA MAIN OFFICE
Amendment Number ONE
Branch of Account XXX XXXXXX XXXXX XXXXXXX, XXXXXXXXXXX, XXXXXXX
Date AUGUST 25TH, 1997
WHEREAS the undersigned has entered into a FirstBank OVERDRAFT LENDING
Agreement dated the 12th day of JUNE, 1996 as amended and supplemented from
time to time (the "Agreement") with the Bank of Montreal (the "Bank");
AND WHEREAS the undersigned and the Bank wish to amend the terms of the
Agreement in accordance herewith;
NOW THEREFORE, the undersigned agree with the Bank that the Agreement be
amended effective from the date hereof as follows:
1. Paragraph(s) 1.03 AND 1.04 of the Agreement is/are amended to read as
follows:
1.03 "LOAN LIMIT" SHALL MEAN ---THREE MILLION FIVE HUNDRED THOUSAND
--00/100 CANADIAN DOLLARS ($3,500,000.00) OR SUCH LESSER AMOUNT AS MAY BE
CALCULATED BY THE BANK OF MONTREAL FROM TIME TO TIME UNDER THE LENDING
MARGIN CALCULATION, IF ANY, SET OUT IN THE ADDENDUM HERETO.
1.04 "LOAN RATE" SHALL MEAN A RATE EQUAL TO THE BANK'S PRIME RATE PLUS
QUARTER PER CENT (0.25%) PER ANNUM.
2. The Addendum to the Agreement is amended to read as follows:
All other terms and conditions of the Agreement remain in full force and
effect.
KING-O-MATIC INDUSTRIES LIMITED
/s/ Xxxxxx Xxxx
--------------------------------------
Name Xxxxxx Xxxx
Title President
/s/ Xxxx X. Xxxx
---------------------------------------
Name Xxxx X. Xxxx
Title Vice President
Page 1 of 1
