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EXHIBIT 10.1b(4)
FOURTH AMENDMENT TO CREDIT AGREEMENT
THIS FOURTH AMENDMENT TO CREDIT AGREEMENT (this "Agreement"),
dated as of December 21, 1999, by and among IRON DYNAMICS, INC., an Indiana
corporation (the "Borrower"), the lenders listed on the signature pages
hereof and MELLON BANK, N.A., a national banking association, as agent for
the Lenders under the Credit Agreement referred to below (the "Agent").
RECITALS:
WHEREAS the Borrower, certain lenders, the Agent and Mellon
Bank, N.A., as Issuing Bank, entered into a Credit Agreement, dated as of
December 31, 1997, as amended by the Amendment and Waiver, dated as of June
10, 1998 and by the Second Amendment to Credit Agreement, dated as of March
15, 1999, and the Third Amendment and Waiver to Credit Agreement, dated as
of June 30, 1999 (as so amended, the "Credit Agreement"), pursuant to which
the Lenders have extended credit to the Borrower;
WHEREAS, the Borrower has requested the Lenders to effect
certain amendments and waivers to the Credit Agreement and the Required
Lenders are willing to do so to the extent provided herein;
WHEREAS, capitalized terms not otherwise defined herein shall
have the meanings assigned thereto in the Credit Agreement.
NOW, THEREFORE, the parties hereto, in consideration of their
mutual covenants and agreements hereinafter set forth and intending to be
legally bound hereby agree as follows:
Section 1. Amendment to Section 6.03(h) of the Credit
Agreement. Section 6.03(h) of the Credit Agreement is hereby amended by
changing the words "Unsecured Indebtedness of the Borrower to SDI in an
aggregate principal amount not exceeding $25,000,000 at any time
outstanding" to read "Unsecured Indebtedness of the Borrower to SDI in an
aggregate principal amount not exceeding $55,000,000 at any time
outstanding".
Section 2. Directions to Agent. The Required Lenders hereby
direct the Agent to execute and deliver this Agreement.
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Section 3. Miscellaneous. (a) This Agreement shall become
effective, as of its date, upon (i) the execution and delivery hereof by
the Required Lenders, the Borrower and the Agent and (ii) the delivery to
the Agent of a fully executed copy of an SDI Subordination Agreement in the
form of Exhibit GG to the Credit Agreement (or an amendment to the existing
SDI Subordination Agreement in such form) covering the full amount of the
$55 million referred to in Section 1 above, to which there has been
attached a copy of a Subordinated Promissory Note in the principal amount
of $55 million delivered by IDI to SDI in the form of Exhibit FF attached
to the Third Amendment to the Credit Agreement.
(b) The Credit Agreement, as amended or modified by this
Agreement, is in all respects ratified, approved and confirmed and shall,
as so amended and modified, remain in full force and effect. From and
after the date hereof, all references to the "Agreement" in the Credit
Agreement and in the other Loan Documents shall be deemed to be references
to the Credit Agreement as amended and modified by this Agreement.
(c) This Agreement shall be deemed to be a contract under the
laws of the State of New York and for all purposes shall be governed by and
construed and enforced in accordance with the laws of said State.
(d) This Agreement may be executed in any number of
counterparts and by the different parties hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such
counterparts shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the parties hereto, by their
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officers thereunto duly authorized, have executed and delivered
this Agreement as of the date first above written.
IRON DYNAMICS, INC.
By /s/ Xxxxx X. Xxxxxxxxxxxx
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Title:
MELLON BANK, N.A., as Lender,
as Issuing Bank and as Agent
By /s/
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Title:
KREDITANSTALT FUR WIEDERAUFBAU
By /s/
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Title:
By /s/
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Title:
COMERICA BANK
By /s/
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Title:
NATIONAL CITY BANK, INDIANA
By /s/
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Title:
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NATIONAL CITY BANK, INDIANA, f/n/a
FORT XXXXX NATIONAL BANK
By /s/
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Title:
LASALLE BANK NATIONAL
ASSOCIATION
By /s/
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Title:
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[XXXXXXX & MCNAGNY LETTERHEAD]
March 29, 2000
VIA XXXXX
Securities & Exchange Commission
000 Xxxxx Xxxxxx, XX
Xxxxxxxxxx, X.X. 00000
RE: Steel Dynamics, Inc.
Annual Report on Form 10-K
(Securities Exchange Act of 1934 - Commission file #0-21719)
Gentlemen/Ladies:
Transmitting herewith via XXXXX is the Form 10-K Annual Report of Steel
Dynamics, Inc. If there are any questions please contact the undersigned at
000-000-0000.
Sincerely,
Xxxxxxx & XxXxxxx
/S/ XXXXXX X. XXXXXXX
Xxxxxx X. Xxxxxxx
