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Exhibit 10.35
THIRD AMENDMENT TO
TERM CREDIT AGREEMENT AND GUARANTY
THIS AMENDMENT dated as of September 26, 1997 is entered into by and
among ALLIED Group, Inc. ("Company"), State Street Bank and Trust Company, not
in its individual capacity but as trustee for The ALLIED Group Employee Stock
Ownership Trust ("ESOP Trustee"), Bank of Montreal, Chicago Branch ("BOM"), and
Norwest Bank Iowa, National Association ("Norwest") to amend the Term Credit
Agreement and Guaranty dated March 13, 1995, as amended October 12, 1995 and
March 5, 1996 ("Agreement").
1. This Amendment shall be effective as of October 1, 1997.
2. The definition of "Applicable Margin" as set forth in Section 1.1 of
the Agreement is amended by replacing the table with the following:
Best's Applicable
Rating Margin
A+ 37.5
A 45.0
X- 00.0
Xxxxx X- 000.0
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers as of the day and year first above
written.
ALLIED Group, Inc. The ALLIED Group Employee Stock
Ownership Trust
By: /s/ Xxxxxxx X. Xxxxxxxx By State Street Bank and Trust Company,
------------------------------ not individually, but solely in its
Xxxxxxx X. Xxxxxxxx capacity as ESOP Trustee
President
Bank of Montreal, Chicago Branch
By: /s/ Xxxxxxxx X. Xxxxxxxx
------------------------------------
Title: Vice President
---------------------------------
By: /s/ Xxxxxx X. Xxxxx
------------------------------
Title: Director
---------------------------
Norwest Bank Iowa, National
Association
By: /s/ Xxxx X. Xxxxxx
------------------------------
Title: Assistant Vice President
---------------------------
