EXHIBIT 10.30
AMENDMENT
TO LIMITED RECOURSE AGREEMENT
This Amendment is entered into as of October 1, 1996,
between TRANS LEASING INTERNATIONAL, INC., a Delaware corporation
(the "Company"), and FIRST UNION NATIONAL BANK OF NORTH CAROLINA
("First Union").
The parties hereto are the parties to a Limited
Recourse Agreement, dated as of November 28, 1995 (as amended
through the date hereof, the "Recourse Agreement"), and desire to
increase the maximum amount that the Company shall be required to
pay or contribute to TL Lease Funding Corp. IV, a Delaware
corporation, thereunder from $5,000,000 to $6,250,000 for the
period from the date hereof through November 30, 1996. All
capitalized terms used herein shall have the same meanings as in
the Recourse Agreement.
NOW THEREFORE, in consideration of the foregoing
premises and the agreements hereinafter set forth, and for the
good and valuable consideration the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as
follows:
1. Amendment. (a) (i) As of the date hereof, Recital
C of the Recourse Agreement is hereby amended by substituting the
figure $6,250,000 for the figure $5,000,000 therein and (ii) the
proviso in the first paragraph of Section 2 of the Recourse
Agreement is hereby amended by substituting the figure $6,250,000
for the figure $5,000,000 therein and (b) on and after December
1, 1996, (i) the provisions set forth in Section 1(a) hereof
shall no longer be effective and (ii) (A) Recital C of the
Recourse Agreement is hereby amended by substituting the figure
$5,000,000 for the figure $6,250,000 therein and (B) the proviso
in the first paragraph of Section 2 of the Recourse Agreement is
hereby amended by substituting the figure $5,000,000 for the
figure $6,250,000 therein.
2. No Further Amendment. Except as set forth above,
the Recourse Agreement shall continue in full force and effect
without modification.
3. Amendment to Credit Agreement. The Company hereby
acknowledges the execution and delivery of Amendment, dated as of
October 1, 1996, to the Revolving Credit and Term Loan and
Security Agreement, dated as of November 28, 1995, each between
TL Lease Funding Corp. IV and First Union, and hereby agrees that
such amendment shall not affect the obligations of the Company
under the Recourse Agreement except as provided herein.
IN WITNESS WHEREOF, the parties have caused this
Amendment to be executed by their respective officers thereunto
duly authorized as of the date first written above.
TRANS LEASING INTERNATIONAL, INC.
By: /s/ Xxxxxxx Xxxxxxxx
Title: President
FIRST UNION NATIONAL BANK OF NORTH CAROLINA
By: /s/ Xxxx X. Xxxxxxx
Title: Vice President
