TD COMMERCIAL BANKING
Pine Valley Commercial Banking Centre
0000 Xxx. #0 & Xxxx Xxxxxx Xxxxx
Xxxxxxx, Xxxxxxx
X0X 0X0
Telephone No.: 000-000-0000
Fax No.: 000-000-0000
February 18, 2002
Ontario Power Contracting Limited
000 Xxxxxxxx Xxxx
Xxxxxxxxxx, Xxxxxxx
X0X 0X0
Attention: Xx. Xxx Xxxxxx
Dear Sir:
The following amending agreement (the "Amending Agreement") amends the terms and
conditions of the credit facilities (the "Facilities") provided to the Borrower
as per the Agreement dated July 27, 2001 and the subsequent Amending agreement
dated September 24, 2001:
CREDIT LIMIT 1. The lesser of:
i) CDN$700,000, AND
ii) the total of 80% of the Receivable Value.
2. CDN$100,000
TYPE OF CREDIT
AND BORROWING
OPTIONS 1) OPERATING LOAN available at the Borrower's option by
way of:
o Prime Rate Based Loans in CDN$ ("Prime Based
Loans")
o Letters of Credit in CDN$ or US$ ("L/Gs")
o Stand-by Letters of Guarantee in CDN$
("L/Gs")
2) TENDER LOAN available by way of Prime Rate Based Loans
in CDN$ ("Prime Based Loans")
INTEREST RATES
AND FEES Advances shall bear interest and fees as follows:
1) OPERATING LOAN:
o Prime Based Loans: Prime Rate + 1.50% per
annum
o L/Cs: As advised by the Bank at the time of
issuance of the L/C
o L/Gs: 2.00% per annum (minimum $150)
2) TENDER LOAN: 1/2 of Prime Rate per annum (minimum 3%)
Interest Payments will be made in accordance with Schedule
"A" attached hereto. Information on Interest Rate and Fee
Definitions, Interest Rate Calculations and Payment is set
out in the Schedule "A" attached hereto.
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SCHEDULE "A"-
STANDARD
TERMS AND
CONDITIONS Schedule "A" sets out the Standard Terms and Conditions
("Standard Terms and Conditions") which apply to these
credit facilities. The Standard Terms and Conditions,
including the defined terms set out therein, form part of
this Agreement, unless this letter states specifically that
one or more of the Standard Terms and Conditions do not
apply or are modified.
Unless otherwise stated, the amendments outlined above are in addition to the
Terms and Conditions of the existing Agreement. All other terms and conditions
remain unchanged.
Yours truly,
THE TORONTO-DOMINION BANK:
/s/ XXXXX NIGALES N142 /S/ XXXXXXXX XXXX U647
-------------------- ---- ----------------- -----
per Xxxxx Xxxxxxxxxx Signing Xxxxxxxx Xxxx Signing
Manager No. Relationship Manager No.
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