EXHIBIT 10.18(4)
ScotiaMocatta
May 21, 2003
AMI Doduco, Inc.
Xxxxxx Corporate Park
0000 Xxxxxxxxx Xxxxx
Xxxxxx, XX 00000
Re: Amendment to Silver Lease Agreement dated April 9, 1996 (as last amended
November 3, 1997)
Reference is made to the subject Silver Lease Agreement between The Bank of Nova
Scotia and AMI Doduco, Inc.
Please be advised that we have agreed to make the following amendment to the
above Silver Lease Agreement as follows:
Section I. Negative Covenants in Appendix A is rewritten in its entirety to now
read as follows:
"I. Negative Covenants. Lessee covenants and agrees that, until the
satisfaction in full of all of Lessee's obligations to Lessor
hereunder, Lessee will not, directly or indirectly, (i) create,
incur, assume or suffer to exist any pledge, lien, security interest
or other encumbrance of any nature whatsoever, on any of the
Material other than any security interest granted to Lessor; (ii)
sell, lease, transfer or otherwise dispose of all or any portion of
the Material, except in the ordinary course of its business; (iii)
dissolve or liquidate; or (iv) guarantee or otherwise in any way
become or be responsible for obligations of any other person.
Notwithstanding the previous sentence, Lessee may from time to time
guarantee the obligations of (1) Guarantor or other entities
controlled by Guarantor, or (2) third parties, in the ordinary
course of business which in the aggregate do not exceed $20,000,000
(twenty million dollars) at any one time; provided, that, the
issuance of any such guarantees shall not, individually or in the
aggregate, have a material adverse effect on the business or
prospects of Lessee."
EXHIBIT 10.18(4)
All other terms and conditions of the Silver Lease Agreement are to remain in
full force and effect. Please return a signed copy of this letter to us at the
address shown above to indicate your agreement to the above amendment.
Very truly yours,
THE BANK OF NOVA SCOTIA
By: /s/ Xxxxxx X. Xxxxxxxxx
-----------------------------
Xxxxxx X. Xxxxxxxxx
Director-Metals Operations
By: /s/ Xxxxx X. Xxxxxxxxx
-----------------------------
Xxxxx X. Xxxxxxxxx
Senior Manager
AGREED:
AMI DODUCO, INC.
By: /s/ Xxxxxx Xxxxx, III
-----------------------------
Name: Xxxxxx Xxxxx
Title: President and CEO
