AMENDMENT NUMBER ONE
This Amendment Number One is dated as of August 1, 1997 and is to
the Credit Agreement (the "Credit Agreement") among Hardinge Brothers, Inc. (now
Hardinge Inc.) the Bank's signatory thereto and The Chase Manhattan Bank
(National Association) (now The Chase Manhattan Bank) as Agent, dated as of
August 1, 1994.
The undersigned hereby agree that the Credit Agreement is amended
as follows:
1. The "Termination Date" as defined in the Credit Agreement
shall mean August 1, 1997.
2. As of August 1, 1997 all outstanding Loans, except for those
set forth on Schedule A annexed hereto (the "Outstanding Loans"), shall have
repaid and the Commitments shall be reduced to an amount equal to the principal
balance of the Outstanding Loans.
3. The amount of the Commitments shall be further reduced as each
of the Outstanding Loans matures, and on September 29, 1997 the Credit Agreement
shall terminate for all purposes.
4. This Amendment Number One may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
instrument, and any parties hereto may execute this Amendment Number One by
signing any such counterpart.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment
Number One to be duly executed as of the day and year first above written.
HARDINGE INC.
f/k/a Hardinge Brothers, Inc.
By: /s/ Xxxxxx X. Xxxx
Xxxxxx X. Xxxx, Chairman of the Board
and Chief Executive Officer
AGENT:
THE CHASE MANHATTAN BANK,
Successor to The Chase Manhattan Bank
(National Association)
By: /s/ Xxxxxxxxx X. XxXxxx
Xxxxxxxxx X. XxXxxx, Vice President
FLEET BANK, Successor to
National Westminster Bank, USA
By: /s/ Xxx X. Xxxxx
Xxx X. Xxxxx, Assistant Vice President
THE CHASE MANHATTAN BANK
f/k/a Chemical Bank
By: /s/ Xxxxxxxxx X. XxXxxx
Xxxxxxxxx X. XxXxxx, Vice President
SCHEDULE A
HARDINGE, INC.
REVOLVING CREDIT FACILITY Dated: August 1, 1994
BANK NAMES: OUTSTANDING LOANS
US DOLLARS BRITISH POUNDS SWISS FRANCS SWISS FRANCS
MATURE 8-18-97 MATURE 9-29-97 MATURE 8-14-97 MATURE 8-28-97
THE CHASE MANHATTAN BANK $1,000,000.00 500,000.00 3,500,000.00 2,000,000.00
successor to The Chase Manhattan
Bank (National Association)
THE CHASE MANHATTAN BANK $500,000.00 250,000.00 1,750,000.00 1,000,000.00
f/k/a Chemical Bank
FLEET BANK, successor to $500,000.00 250,000.00 1,750,000.00 1,000,000.00
National Westminster Bank,
USA
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TOTALS $2,000,000.00 (lb)1,000,000.00 Sfr 7,000,000.00 Sfr 4,000,000.00
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