AMENDMENT NO. 8
to
Fourth Amended and Restated Revolving
Credit and Security Agreement
THIS AMENDMENT NO. 8 dated as of June 30, 1997 is made by and between
SYNTHETIC INDUSTRIES, INC., a Delaware corporation (the "Borrower"),
the Lenders parties from time to time to the Credit Agreement (as
hereinafter defined), and BANKBOSTON, N.A. (f/k/a The First National
Bank of Boston) ("BankBoston"), as the agent (the "Agent") for the
Lenders. Preliminary Statements
The Borrower, the Lenders and the Agent are parties to the Fourth
Amended and Restated Revolving Credit and Security Agreement dated as of October
20, 1995 (as amended and in effect, the "Credit Agreement"; terms defined
therein and not otherwise defined herein, being used herein as therein defined).
The Borrower has requested that the Applicable Margin applicable to each Advance
under the Credit Agreement be reduced and the Lenders and the Agent have agreed
to such reduction, upon and subject to the terms, conditions and provisions of
this Amendment.
Accordingly, in consideration of the Credit Agreement, the Loans
outstanding thereunder, the mutual promises therein and hereinafter set forth,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree as follows:
Section 1. Amendment to Credit Agreement. From and after June 30, 1997,
subject only to receipt by the Agent of at least six counterparts of this
Amendment signed by the duly authorized representatives of each Lender and the
Borrower, the Credit Agreement is amended by amending Section 1.1 Definitions by
amending the definition "Applicable Margin" in its entirety to read as follows:
"Applicable Margin" means (a) as to the Base Rate, 0% as to
each Base Rate Advance made as part of a Borrowing under the Revolving
Credit Facility and 0.25% as to each Base Rate Advance made as part of
a Borrowing under the Term Loan Facility, and (b) as to the Eurodollar
Rate, 1.75% as to each Eurodollar Advance made as part of a Borrowing
under the Revolving Credit Facility and 2.00% as to each Eurodollar
Advance made as part of a Borrowing under the Term Loan Facility.
Section 2. Effect of Amendment. From and after the effectiveness of
this Amendment, all references in the Credit Agreement and in any other Loan
Document to "this Agreement," "the Credit Agreement," "hereunder," "hereof" and
words of like import referring to the Credit Agreement, shall mean and be
references to the Credit Agreement as amended by this Amendment. Except as
expressly amended hereby, the Credit Agreement and all terms, conditions and
provisions thereof remain in full force and effect and are hereby ratified and
confirmed. The execution, delivery and effectiveness of this Amendment shall
not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of any Lender or the Agent under any of the Loan Documents, nor
constitute a waiver of any provision of any of the Loan Documents.
Section 3. Counterpart Execution; Governing Law.
(a) Execution in Counterparts. This Amendment may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute but one and the
same agreement.
(b) Governing Law. This Amendment shall be governed by and
construed in accordance with the laws of the State of Georgia.
IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be executed by their respective officers thereunto duly authorized,
as of the date first above written.
SYNTHETIC INDUSTRIES, INC.
[Corporate Seal] By:
Name:
ATTEST: Title:
------------------------------
[Assistant] Secretary
BANKBOSTON, N.A. (f/k/a The First
National Bank of Boston),
as the Agent and as a Lender
By: __/s/ Xxxxxxx X. XxXxxxx
Xxxxxxx X. XxXxxxx
Director
SANWA BUSINESS CREDIT
CORPORATION
By /s/Xxxxx X. Skavla_
Name:
Title:
SOUTHTRUST BANK OF GEORGIA,
N.A.
By: /s/ Xxxxxxx Gewert_
Xxxxxxx Xxxxxx
Vice President
