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EXHIBIT 4.7
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SECOND AMENDMENT TO AMENDED
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AND RESTATED CREDIT AGREEMENT
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This Second Amendment to Amended and Restated Credit Agreement is
executed as of the 2nd day of May, 1997, between Chemi-Trol Chemical Co., an
Ohio corporation ("Borrower"), and The Fifth Third Bank of Northwestern Ohio,
N.A. ("Bank").
The parties executed (a) an Amended and Restated Credit Agreement
dated as of May 2, 1996, whereby Bank agreed to make Revolving Loans to Borrower
up to an amount of Fifteen Million Dollars ($15,000,000.00) through May 1, 1997,
and (b) an Amendment to Credit Agreement dated as of February 28, 1997. For
purposes herein, the Amended and Restated Credit Agreement dated as of May 2,
1996, as amended by the Amendment to Credit Agreement dated as of February 28,
1997, shall be referred to as the "Credit Agreement".
Pursuant to Section 7.9 of the Credit Agreement, the parties desire
to amend the terms of the Credit Agreement by extending the Termination Date.
Capitalized terms defined in the Credit Agreement shall have the same meaning
when used herein.
NOW, THEREFORE, in consideration of the parties agreement to amend
the Credit Agreement, the premises and covenants herein, and other good and
valuable consideration, the receipt and sufficiency of which are acknowledged,
the parties agree to amend the Credit Agreement as follows:
1. Section 2.1 of the Credit Agreement is hereby amended to provide
that the Termination date shall be May 2, 1998.
2. Section 2.3 of the Credit Agreement is hereby amended to change
May 2, 1997, in both instances, to May 2, 1998.
3. Section 2.4 of the Credit Agreement is hereby amended to change
May 2, 1997, to May 2, 1998.
Except as specifically amended herein, all terms and provisions of
the Credit Agreement shall remain in full force and effect through the extended
Termination Date of May 2, 1998. Borrower hereby reaffirms the original and
amended notes, security agreements financing statements and other security
documents previously executed by it in connection with the Credit Agreement and
acknowledges that such documents remain in full force and effect as evidence of
and security for the Revolving Loans, and the repayment of the Revolving Loans,
as the same may be amended hereby.
Executed as of the date first written above.
CHEMI-TROL CHEMICAL CO. FIFTH THIRD BANK OF
NORTHWESTERN OHIO, N.A.
By:/S/ Xxxxxx X. Xxxxx By:/S/ Xxxxxxx X. Xxxxxxx
C.E.O. Vice President
By:/S/ Xxxxxx X. Xxxxx
President
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