Exhibit 10.2
THIRD AMENDMENT TO EUROPEAN FACILITY
Between the Registrant and The First National Bank of Chicago
dated August 17, 1999
THE FIRST NATIONAL BANK OF CHICAGO,
London Branch
THE FIRST NATIONAL BANK OF CHICAGO,
Frankfurt Branch
00 Xxxx Xxxx, Xxxxxxx Xxxxxx
Xxxxxx XX0X 0XX
Xxxxxxx
Dated as of August 17, 1999
Hurco Europe Limited
Hurco GmbH Werkzeugmaschinen
CIM-Bausteine Vertrieb und Service
Hurco B.V.
Hurco S.A.R.L.
Re: Third Amendment to European Facility
Ladies and Gentlemen:
This letter amends the letter agreement with you dated September 8,
1997 (as amended, the "European Facility"), and is being entered into in
conjunction with the Third Amendment to Amended and Restated Credit Agreement
and Amendment to Reimbursement Agreement of even date herewith with your parent,
Hurco Companies, Inc. (the "Amendment").
(a) The first paragraph of the European Facility is amended and
restated to read as follows:
Concurrently herewith, Hurco Companies, Inc., an Indiana corporation
which directly or indirectly owns 100% of you ("Hurco Companies"), and Bank One,
Indiana, National Association, a national banking association (successor in
interest by merger to NBD Bank, N.A.) ("Bank One, Indiana") and Bank One,
Michigan, a Michigan banking corporation (formerly known as NBD Bank) ("Bank
One, Michigan"), have entered into that certain Amended and Restated Credit
Agreement and Amendment to Reimbursement Agreement, dated as of even date
herewith (as amended, the "Credit Agreement"). This letter sets forth our
agreement with respect to the working capital credit facility which The First
National Bank of Chicago, London Branch, and The First National Bank of Chicago,
Frankfurt Branch (collectively, "FCNBD"), are willing to establish for you (the
"Facility"). (References to "you" and "your" in this agreement mean,
individually and not collectively, Hurco Europe Limited, a corporation organized
and existing under the laws of England and Wales ("Hurco Europe"), Hurco GmbH
Werkzeugmaschinen CIM - Bausteine Vertrieb und Service ("Hurco GmbH"), Hurco
B.V. ("Hurco BV"), a limited liability company organized under the laws of the
Netherlands, and Hurco S.A.R.L. ("Hurco S.A.R.L."), a limited liability company
organized under the laws of France.
(b) The definition of "Expiration Date" contained in Section 7 of
the European Facility is amended and restated to read as follows:
"Expiration Date" means the earlier to occur
of (a) May 1, 2002, and (b) the date on which the Authorization shall be
terminated pursuant to Paragraph 12.
(c) All references in the European Facility to "NBD" are replaced
with "Bank One, Indiana."
(d) All references in the European Facility to "NBD Michigan" are
replaced with "Bank One, Michigan."
Should the foregoing be agreeable to you, as it is to us, please
indicate your agreement and acceptance by executing and returning the enclosed
copy of this letter, whereupon the European Facility shall be amended as herein
provided, and references to the European Facility shall be to the European
Facility as so amended. Except as amended hereby, the European Facility shall
remain in full force and effect.
Very truly yours,
THE FIRST NATIONAL BANK OF
CHICAGO, London Branch
By:_________________________
Its: Vice President
THE FIRST NATIONAL BANK OF
CHICAGO, Frankfurt Branch
By:_________________________
Its: Vice President
Agreed and accepted:
HURCO EUROPE LIMITED
By: ________________________
Xxxxx X. Xxxx
Its: Director
Dated as of ________, 1999
HURCO GmbH WERKZEUGMASCHINEN
CIM-BAUSTEINE VERTRIEB UND
SERVICE
By: ________________________
Its: General Manager
Dated as of ________, 1999
HURCO B. V.
By: ________________________
Its: Managing Director
And By: ______________________
Its: Managing Director
Dated as of ________, 1999
HURCO S.A.R.L.
By: ________________________
Its: General Manager
Dated as of ________, 1999
DETROIT 15275-5 452430-3
