FIRST AMENDMENT TO REVOLVING CREDIT AGREEMENT
This First Amendment to Revolving Credit Agreement made this 20th day of
February 1998, among HACH COMPANY, a Delaware corporation, and HACH EUROPE
S.A./N.V., A Belgian limited liability company (collectively the "Borrower"),
and U.S. BANK NATIONAL ASSOCIATION f/k/a COLORADO NATIONAL BANK ("Lender").
Whereas, the parties have heretofore entered into that certain Revolving Credit
Agreement dated as of July 7, 1997, (the "Agreement"); and
Whereas, the parties desire to amend the Agreement as hereinafter provided.
Now, therefore, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereby covenant and agree as
follows:
1. Effective January 5, 1998, the following definition is amended in its
entirety to read as follows:
"Adjusted Eurodollar Rate" means, for any Interest Rate Determination
Date, the rate per annum obtained by dividing (i) the London Interbank
Offered Rate (expressed as a rate per annum and rounded upward to the
nearest 1/16 of one percent) appearing on the Telerate system (as
quoted by the Bank's standard administrative procedures) on such
Interest Rate Determination Date for U.S. dollar deposits of amounts
in same day funds comparable to the principal amount of the Eurodollar
Loan for which the Adjusted Eurodollar Rate is then being determined
with maturities comparable to the Interest Period for which such
Adjusted Eurodollar Rate will apply by (ii) a percentage equal to 100%
minus the actual rate of all reserve requirements (including, without
limitation, any marginal, emergency, supplemental, special or other
reserves) actually imposed on the Bank on such Interest Rate
Determination Date.
2. The following is added as Section 8.7(g):
(g) Liens of an entity acquired by the Borrower which exist at the
time of acquisition, provided that:
(i) such entity is maintained as a separate corporate or other
limited liability subsidiary; and
(ii) such lien is nonrecourse to Borrower or its assets.
3. Unless otherwise provided herein, the defined terms shall have their
ascribed meanings as provided in the Agreement.
4. This Amendment may be executed in counterparts.
5. The Agreement, as amended hereby, and the Note is hereby ratified and
confirmed between the parties.
In witness whereof, the parties have executed this First Amendment to
Warehousing Credit and Security Agreement as of the day and year first-above
written.
COMPANY:
HACH EUROPE S.A./N.V.,
a Belgian limited liability company
By: /s/ Xxxxx X. Xxxx
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Xxxxx X. Xxxx, President and Chief Executive Officer
HACH COMPANY
By: /s/ Xxxxx X. Xxxx
----------------------------------------------------
Xxxxx X. Xxxx, President and Chief Executive Officer
LENDER:
U.S. BANK NATIONAL ASSOCIATION
f/n/a COLORADO NATIONAL BANK
By: /s/ Xxxxx X. XxXxxxxx
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Xxxxx X. XxXxxxxx, Vice President
