Form of Amendment No. 1 to Security Agreement Between RIO VISTA OPERATING PARTNERSHIP, L.P. And TRANSMONTAIGNE PRODUCT SERVICES INC.
Exhibit
10.13
Form
of
Amendment
No. 1
to
Security
Agreement
Between
RIO
VISTA OPERATING PARTNERSHIP, L.P.
And
TRANSMONTAIGNE
PRODUCT SERVICES INC.
TransMontaigne
Product Services Inc. (“TPSI”) and Rio Vista Operating Partnership, L.P. (“Rio”)
entered into a Security Agreement dated August 15, 2005” (“Security Agreement”)
pursuant to the terms of that certain Purchase and Sale Agreement dated August
15, 2005 (“Agreement”) between the same parties. In accordance with the Amended
and Restated Agreement dated August 15, 2006, Rio and TPSI agreed to amend
the
Security Agreement, effective as of the Closing Date of the Amended and Restated
Agreement, as follows:
1. In
the
first line of Section 2.1, delete the words “Debtor’s Collateral, as that term
is defined in Section 3.1(d)”, and insert in their place “Debtor’s New
Collateral, as that term is defined in Section 3.1(e)”. In the third line of
Section 2.1, after the date “August 15, 2005,” insert “.., as amended and
restated on August 15, 2006.” In the 9th
line of
the same section, after the amount “$1,300,000.00,” insert the
following:
“,
plus
interest as described in the Promissory Note executed by Debtor in favor of
Creditor of even date with this Agreement (the “Promissory Note”).
2. In
Section 5.1, delete everything after the words “until paid,” and insert in their
place “in accordance with the Promissory Note.”
3. Delete
Section 5.7 in its entirety.
4. The
other
terms of the Security Agreement remain unchanged and the parties hereby ratify
and confirm them.
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TRANSMONTAIGNE
PRODUCT SERVICES INC.
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RIO
VISTA OPERATING PARTNERSHIP,
LP
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By:
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By:
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Name:
Xxxxxxx X. Xxxxxx
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Name:
Xxxxxxx Xxxxxx
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Title:
President
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Title:
President
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