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Exhibit (b)(3)
[FIRSTAR BANK MILWAUKEE, N.A. LETTERHEAD]
March 12, 1997
Xx. Xxxxx X. Xxxxxxxx
Treasurer
Snap-On Incorporated
0000-00xx Xxxxxx
Xxxxxxx, Xxxxxxxxx 00000-0000
RE: Second Amendment to Line of Credit Agreement and Note
Dear Xxxxx:
Please refer to the line of credit agreement and accompanying note dated
November 15, 1994, as amended, establishing a $20,000,000 line of credit at
Firstar Bank Milwaukee, N.A. for Snap-On Incorporated. You have requested that
Firstar Bank increase the ammount available under the line of credit from
$20,000,000 to $27,500,000.
By this letter, we hereby amend the above-referenced line of credit
agreement and note to delete all references to "$20,000,000" (whether or not
numerically) and to substitute "27,500,000" each place the amount appears in
the letter agreement and note. In all other respects, the terms of the letter
agreement and note shall continue as orignally set forth. This is an
amendment, not a novation.
Please indicate your agreement by signing where indicated below and
returning this letter to the undersigned.
Very truly yours,
/s/ X. Xxxxx Xxxxxxx
X. Xxxxx Xxxxxxx
Officer
Accepted and agreed to:
SNAP-ON INCORPORATED
By: /s/ Xxxxx X. Xxxxxxxx
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Title: Treasurer
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By:
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Title:
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