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Title: |
Credit Agreement |
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Entities: |
ABN AMRO Bank N.V.; FLIR Systems, Inc.; Bank of America, NA; Keybank NA |
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Date: |
2001 |
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Size: |
Preview shows 4KB of 20KB total |
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Price: |
$32 |
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ID: |
#410576 |
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JANUARY 2001 AMENDMENT
TO CREDIT AGREEMENT
This is an amendment to the Credit Agreement dated as of December 16, 1999,
by and among FLIR Systems, Inc., an Oregon corporation ("Borrower"), each lender
from time to time party thereto (collectively, "Lenders" and individually, a "
Lender"), and Bank of America, N.A. as Administrative Agent and Issuing Lender.
RECITALS:
--------
The parties hereto entered into the Credit Agreement referred to above (the
"Credit Agreement") as of December 16, 1999. Thereafter, the parties entered
into a series of amendments and/or forbearance agreements as follows:
A. Amendment to Credit Agreement dated as of April 13, 2000.
B. Forbearance Agreement and Consent dated as of August 10, 2000.
C. Amendment to Forbearance Agreement and Consent dated as of August
21, 2000.
D. Second Amendment Forbearance Agreement and Consent dated as of
September 29, 2000.
E. Third Amendment Forbearance Agreement and Consent dated as of
December 15, 2000.
The parties hereto desire to amend the Credit Agreement and to supercede all of
the amendments and forbearance agreements listed above so that upon execution of
this January 2001, the only effective documents will be the Credit Agreement and
this January 2001 Amendment.
The parties agree as follows:
1. The definition of "Applicable Amount" in Section 1.01 of the Credit
Agreement is amended to read as follows:
"'Applicable Amount' means initially 275 basis points per annum:
If and only if all covenants herein are met, the Applicable Amount
will be reduced as follows:
When the total Combined Commitments have been reduced by principal
payments to $88,391,257.89 or less, the Applicable Amount will be 250
basis points per annum.
When the total Combined Commitments have been reduced by principal
payments to $83,391,257.89 or less, the Applicable Amount will be 225
basis points per annum.
When the total Combined Commitments have been reduced by principal
payments to $78,391,257.89 or less, the Applicable Amount will be 200
basis points per annum.
When the total Combined Commitments have been reduced by principal
payments to $73,391,257.89 or less, the Applicable Amount will be 175
basis points. There will be no further reduction in the Applicable
Amount per annum.
2. The definition of Revolving Credit Maturity Date is amended to read as
follows:
1
{PAGE}
"'Revolving Credit Maturity Date' means July 15, 2002, as it may be
earlier terminated or extended in accordance with the terms hereof."
3. The following definitions in Section 1.01 of the Credit Agreement are
deleted in their entirety:
"Consolidated Tangible Net Worth"
"Continuation" and "Continue"
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