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Document Preview Credit Agreement [Amendment No. 1] |
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Title: |
Credit Agreement [Amendment No. 1] |
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Entities: |
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Date: |
2001 |
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Preview shows 5KB of 22KB total |
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Price: |
$34 |
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ID: |
#224943 |
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CREDIT AGREEMENT
dated as of
April 24, 2001
among
LESCO, Inc.,
as the Borrower,
THE LENDING INSTITUTIONS NAMED THEREIN,
as Lenders,
and
NATIONAL CITY BANK
as the Administrative Agent
---------------------
AMENDMENT NO. 1
to
CREDIT AGREEMENT
dated as of
August 7, 2001
---------------------
================================================================================
{PAGE} 2
AMENDMENT NO. 1 TO CREDIT AGREEMENT
THIS AMENDMENT NO. 1 TO CREDIT AGREEMENT, is dated as of August 7, 2001
("this Amendment"), among the following:
(i) LESCO, INC., an Ohio corporation (herein, together with its
successors and assigns, the "Borrower");
(ii) the Lenders a party to the Credit Agreement, as hereinafter
defined; and
(iii) NATIONAL CITY BANK, a national banking association as the
Administrative Agent under the Credit Agreement (the "Administrative
Agent").
PRELIMINARY STATEMENTS:
(1) The Borrower, the Lenders and the Administrative Agent entered
into the Credit Agreement, dated as of April 24, 2001 (as the same may from time
to time be amended, restated or otherwise modified, the "Credit Agreement"; with
the terms defined therein being used herein as so defined).
(2) The parties hereto desire to modify certain terms and provisions
of the Credit Agreement, all as more fully set forth below.
NOW, THEREFORE, the parties hereby agree as follows:
SECTION 1. AMENDMENTS, ETC.
1.1. Amended Definitions. Section 1.1 of the Credit Agreement is hereby
amended to delete the definitions of "Applicable Eurodollar Margin", "Credit
Documents" and "Maturity Date" therefrom and to insert in place thereof,
respectively, the following:
"Applicable Eurodollar Margin" shall mean (a) for the period from
the Closing Date through August 7, 2001, 175 basis points, and (b) on
August 8, 2001 and thereafter, 275 basis points.
"Credit Documents" shall mean, collectively, this Agreement, the
Guaranties of Payment, the Intercreditor Agreement, the Security
Documents and the Notes, together with any other documents relating to
any of the foregoing, as any of the foregoing may from time to time be
amended, restated or otherwise modified or replaced.
"Maturity Date" shall mean August 7, 2002, or such earlier date on
which the Total Commitment shall have been terminated.
1.2. New Definitions. Section 1.1 of the Credit Agreement is hereby
amended to add the following new definitions thereto:
"Collateral Agent" shall mean Wells Fargo Bank Northwest, National
Association, as the Collateral Agent under the Security Documents,
together with any successor or replacement collateral agent.
{PAGE} 3
"Intercreditor Agreement" shall mean the Intercreditor and
Collateral Agency Agreement, dated as of August 7, 2001, among the
Collateral Agent, the Lenders, the Noteholders, PNC Bank, National
Association, as the Subordinated Lien Creditor (as defined therein),
the Borrower and the Guarantors of Payment, as the same may from time
to time be amended, restated or otherwise modified.
"Noteholders" shall mean, collectively, Pacific Life Insurance
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