AMENDMENT NO. 3 TO BUSINESS LOAN AGREEMENTBusiness Loan Agreement • November 9th, 2009 • Westmoreland Coal Co • Bituminous coal & lignite surface mining • Montana
THIS AMENDMENT NO. 3 TO BUSINESS LOAN AGREEMENT (the “Agreement”) dated and made effective as of November 9, 2009 (the “Effective Date”), by and among WESTMORELAND RESOURCES, INC., a Delaware corporation (“Borrower”) and WESTMORELAND COAL COMPANY, a Delaware corporation (“Guarantor”), and FIRST INTERSTATE BANK, a Montana banking corporation (together with any subsequent holder or holders of the Notes, the “Lender”).
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • November 9th, 2009 • Westmoreland Coal Co • Bituminous coal & lignite surface mining
Description of Existing Indebtedness: Revolving line of credit note dated October 29, 2007 in the original principal amount of $20,000,000.00. Current principal balance is $17,300,000.00.
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • November 9th, 2009 • Westmoreland Coal Co • Bituminous coal & lignite surface mining
Description of Existing Indebtedness: Promissory note dated October 29, 2007 in original principal amount of $8,500.000.00. Current principal balance is $4,235,787.48.
