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EXHIBIT 5.2
PPM WORLDWIDE
June 30, 1997 PPM America, Inc.
000 Xxxx Xxxxxx Xxxxx
Xxxxxxx, Xxxxxxxx 00000
Telephone (000) 000-0000
Xx. Xxxxxx X. Xxxxx
Vice President and Chief Financial Officer
Bucyrus International, Inc.
0000 Xxxxxxxxx Xxxxxx
Xxxxx Xxxxxxxxx, XX 00000-0000
RE: $45 million Term Loan Commitment (the "Facility") between Bucyrus
International, Inc. ("Bucyrus"), as borrower, and PPM America Special
Investments Fund, L.P. (the "Fund"), as lender; dated April 14, 1997.
Dear Xxx:
Bucyrus has requested a 45 day extension of the Closing Date for the $45
million Commitment referenced above. In that connection, the Fund is pleased to
extend the Closing Date from the current deadline of July 15, 1997, to August
30, 1997 (the "Extension"). All other Terms and Conditions of the Facility shall
remain unchanged from the original April 14, 1997, Commitment Letter and Exhibit
A.
By your signature below, you agree to pay Three Hundred Thirty-Seven
Thousand and Five Hundred Dollars ($337,500 U.S.), as consideration for this
extension of the Closing Date ("Extension Fee"), as well as accelerating payment
of the Facility Fee of Four Hundred Fifty Thousand Dollars ($450,000 U.S.). Both
amounts are payable to the PPM America Special Investments Fund, L.P.
This Extension shall be governed by, and construed in accordance with, the
laws of the State of New York.
If the foregoing correctly sets forth our agreement, please indicate your
acceptance of the terms hereof by signing in the appropriate space below and
returning to us the enclosed duplicate original of this letter ("Extension
Letter") not later than 12:00 p.m., Chicago Time, on Monday, June 30, 1997. The
fund's proposal to extend hereunder shall expire at this time unless the Fund
has received such executed originals and payment of the fees.
Upon signing this Extension Letter, please wire transfer the Extension and
Facility Fees to the following account:
Bank Name: Norwest Bank Minnesota, N.A.
ABA #: 000000000
Crediting Account Name: Norwest MN TTEE for PPM America Special Investments
Fund
Account number:
This Extension Letter may be executed in any number of counterparts, each
of which shall be an original and all of which, when taken together, shall
constitute one agreement.
Very truly yours,
PPM AMERICA SPECIAL
INVESTMENTS FUND, L.P.
By: /s/ Xxxxxx X. Xxxxxxxx
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Agreed to and accepted as of
the date first above written,
BUCYRUS INTERNATIONAL, INC.
By: /s/ Xxxxxx X. Xxxxx
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