Exhibit 10.18.1
This FIRST AMENDMENT to LOAN AND SECURITY AGREEMENT dated as of May 10, 2002
and agreed to by and between TRAILER BRIDGE, INC., a Delaware corporation
("Borrower") and TRANSPORTATION RECEIVABLES 1992, LLC, a Delaware limited
liability company ("Lender") dated as of May 23, 2003.
RECITALS
A. Borrower and Lender are party to a LOAN AND SECURITY AGREEMENT dated as
of May 10, 2002
B. Borrower and Lender wish to extend the term until October 1, 2004.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and the mutual covenants
hereinafter contained, the parties hereto agree to amend the agreement as
follows:
Section 1.2 is deleted in its entirety and replaced with:
1.2 Term and Prepayment. (a) On October 1, 2004, Borrower shall pay to Lender in
accordance with the Consolidated Promissory note, in cash, the Loan and all
accrued and unpaid interest thereon;
Except as modified pursuant hereto, no other changes or modifications
to the LOAN AND SECURITY AGREEMENT dated as of May 10, 2002 or the LOAN
DOCUMENTS are intended or implied and in all other respects the Loan Documents
are hereby specifically ratified, restated and confirmed by all parties hereto
as of the effective date hereof.
TRAILER BRIDGE, INC.
By: /s/ Xxxxxxx X. Xxxxxxx, Xx.
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Name: Xxxxxxx X. Xxxxxxx, Xx.
Title: Executive Vice President
TRANSPORTATION RECEIVABLES 1992, LLC
By The Estate of X. X. XxXxxx, Member
By: /s/ Xxxx X. XxXxxx
-------------------------------------
Name: Xxxx X. XxXxxx
Title: Co-Executor
By: /s/ X. Xxxxxxxx Meyercord
-------------------------------------
Name: X. Xxxxxxxx Xxxxxxxxx
Title: Co-Executor
