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Document Preview Credit Agreement |
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Title: |
Credit Agreement |
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Entities: |
Ducommun Inc.; First Union National Bank; Bank of America, NA |
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Date: |
2003 |
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Size: |
12KB total |
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Price: |
$35 |
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ID: |
#410937 |
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Start of Preview |
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AMENDMENT NO. 2 TO
CREDIT AGREEMENT
This Amendment No. 2 to Credit Agreement (this Amendment), dated as of December 23, 2002, is entered into with reference to the Credit Agreement (as amended, supplemented or otherwise modified from time to time, the Credit Agreement) dated as of September 29, 2000 among Ducommun Incorporated, a Delaware corporation (Borrower), each lender from time to time a party thereto (each a Lender and collectively, the Lenders), First Union National Bank, as Syndication Agent, and Bank of America, N.A., as a Lender, as Issuing Lender, and as Administrative Agent (in such capacity, the Administrative Agent). Capitalized terms not otherwise defined herein shall have the meanings set forth in the Credit Agreement. Section references herein relate to the Credit Agreement unless otherwise stated.
The parties hereto hereby agree as follows:
1. Reduction of Aggregate Commitment. Each of the parties hereto hereby agrees that, as of the Effective Date, (a) the Aggregate Commitment shall be permanently reduced to $75,000,000, and (b) the Commitment of each Lender shall be correspondingly permanently reduced in accordance with such Lenders Pro Rata Share.
2. Section 1.1Defined Terms. The following defined terms contained in Section 1.1 of the Credit Agreement are amended in full to read as follows:
Aggregate Commitments means $75,000,000 or such lesser amount to which the Commitments of the Lenders hereunder may be reduced (a) in accordance with Section 2.6 or 2.7 or (b) as otherwise agreed to by the Lenders and the Borrower.
Base Rate Spread means, during each Pricing Period, the rate set forth below opposite the Leverage Ratio reported as of the last day of the Fiscal Quarter ending approximately two months prior to the first day of that Pricing Period (or, in the case of any Pricing Period commencing on the date of any Material Permitted Acquisition, the Pro Forma Leverage Ratio in effect on the date thereof):
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Leverage Ratio |
Base Rate Spread | |
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Less than or equal to 1.50:1.00 |
25.0 bps | |
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Greater than 1.50:1.00 but less than or equal to 2.00:1.00 |
50.0 bps | |
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Greater than 2.00:1.00 |
75.0 bps |
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End of Preview |
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