AMENDMENT OF LETTER OF CREDIT FACILITY AGREEMENT Effective October 2, 2008
Exhibit 10.1
AMENDMENT
OF
LETTER OF CREDIT FACILITY AGREEMENT
Effective October 2, 2008
This document shall serve as an amendment of that Letter of Credit Facility Agreement dated as of the 2nd day of October, 2001, by and between Bank of the Lakes, N.A. (“Lender”), and Alliance Resource Partners, L.P., a Delaware Limited Partnership (“Borrower”) and shall be effective with respect to all Letters of Credit that have been issued pursuant thereto and remain outstanding.
RECITALS
FOR GOOD AND VALUABLE CONSIDERATION, LENDER AND BORROWER hereby agree as follows, to-wit:
1. | Amendments |
a. Paragraph 1.29 “Letter of Credit fee”. This paragraph shall be amended to reduce the Letter of Credit fee for any Letter of Credit issued hereunder from .95% per annum to .75% per annum.
b. Paragraph 6.11. Debt is amended to read as follows, to-wit: An event of default occurs under (a) the Letter of Credit Facility Agreement entered into by the Borrower with Fifth Third Bank as of August 30, 2001, as the same may be amended, modified or supplemented from time to time in accordance with the terms thereof, in the amount of $26,000,000.00, or (b) any other indenture, loan agreement, promissory note or other instrument of indebtedness, in the principal amount of $10,000,000.00 or more, to which Borrower or Guarantor is a party and which, in the case of clause (a) or (b), is not cured within any applicable cure period permitted thereunder.
c. Paragraph 8.1. Notices, is amended to provide the following notice requirements:
To Borrower:
ALLIANCE RESOURCE PARTNERS, L.P.
c/o Alliance Resource Management GP, LLC
0000 Xxxxx Xxxxxxx Xxxxxx, Xxxxx 000
Xxxxx, Xxxxxxxx 00000
Attn: Xxxx Xxxxxxxx, Vice-President, Corporate Finance and Treasurer
Telefax: (000)000-0000
with a copy to:
ALLIANCE RESOURCE PARTNERS, L.P.
c/o Alliance Resource Management GP, LLC
0000 Xxxxx Xxxxxxx Xxxxxx, Xxxxx 000
Xxxxx, Xxxxxxxx 00000
Attn: Xxxxx X. Xxxxxxxx, Senior Vice President and Chief Financial Officer
Telefax: (000)000-0000
And to:
Xxxxxx X., Schnitzer, Esq.
Xxxxxx Xxxxxx Rosenman, LLP
0000 X Xxxxxx, XX
Xxxxx 000
Xxxxxxxxxx, XX 00000-0000
Telefax: (000)000-0000
To Lender:
BANK OF THE LAKES, NATIONAL ASSOCIATION
00000 X. 00xx Xxxxxx Xxxxx
Xxxxxx, Xxxxxxxx 00000
Attn: X. X. Xxxxxx, President and Chief Executive Officer
Telefax: (000)000-0000
with a copy to:
Stuart, Biolchini, & Xxxxxx
0000 Xxxxx Xxxxx Tower
00 Xxxx 0xx Xxxxxx
Xxxxx, Xxxxxxxx 00000
Attn: Xxxxxx X. Xxxxxxxxx, Esq.
Telefax: (000)000-0000
2. | Representations, Warranties, and Covenants |
Borrower represents and warrants that all of the representations and warranties set forth in the Letter of Credit Facility Agreement are true and correct as of the date hereof, and borrower further represents and warrants that borrower has performed all of the covenants which borrower is required to perform under the Letter of Credit Facility Agreement. All representations and warranties in the Letter of Credit Facility Agreement regarding Borrower are true and correct.
3. | No Other Amendments |
Except as expressly set forth in this amendment of the Letter of Credit Facility Agreement, all other portions of the loan agreement and related documents as set forth therein and previously executed by Borrower and Guarantor shall remain and are in full force and effect.
WITNESS WHEREOF, BORROWER AND LENDER have caused this amendment of the Letter of Credit Facility Agreement to be duly executed by their properly and duly authorized officers as of the day and year first above written
“Borrower” | ||||
ALLIANCE RESOURCE PARTNERS, L.P., a limited partnership | ||||
By: | ALLIANCE RESOURCE MANAGEMENT GP, LLC, the managing general partner | |||
By: | /s/ Xxxxx X. Xxxxxxxx | |||
Name: | Xxxxx X. Xxxxxxxx, | |||
Title: | Senior Vice President – Chief Financial Officer | |||
Date: April 13, 2009 | ||||
“Lender” | ||||
BANK OF THE LAKES, NATIONAL ASSOCIATION | ||||
By: | /s/ X. X. Xxxxxx | |||
Name: | X. X. Xxxxxx | |||
Title: | President and Chief Executive Officer | |||
Date: April 13, 2009 |