EXHIBIT 99.4 ACT OF ACKNOWLEDGMENT, MODIFICATION, RECEIPT AND THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT ------------------------------------- This Act of Acknowledgment, Modification, Receipt and Third Amendment to Amended and Restated...Credit Agreement • August 22nd, 2002 • Unifab International Inc • Ship & boat building & repairing
EXHIBIT 99.2 CHAFFE & ASSOCIATES LETTERHEAD July 23, 2002 Board of Directors UNIFAB International, Inc. 5007 Port Road New Iberia, LA 70562 Gentlemen: We understand that UNIFAB International, Inc. ("Unifab") and Midland Fabricators and Process...Unifab International Inc • August 22nd, 2002 • Ship & boat building & repairing
EXHIBIT 99.3 CHAFFE & ASSOCIATES, INC. LETTERHEAD August 9, 2002 Board of Directors UNIFAB International, Inc. 5007 Port Road New Iberia, LA 70562 Gentlemen: We understand that UNIFAB International, Inc. ("Unifab") and Midland Fabricators and Process...Unifab International Inc • August 22nd, 2002 • Ship & boat building & repairing
We understand that UNIFAB International, Inc. ("Unifab") and Midland Fabricators and Process Systems, L.L.C. ("Midland") have entered into a Preferred Stock Purchase, Debt Exchange and Modification Agreement dated April 26, 2002 (the "Agreement"), which provides for, among other things, (a) the issuance of 738 shares of Unifab convertible preferred stock to Midland in exchange for the cancellation of $10.0 million of the Company's outstanding senior debt, and (b) the conversion of the Company's remaining senior debt, related penalties and interest, and certain other notes payable into a subordinated note payable for approximately $1.9 million due in 2005, a subordinated note payable for approximately $5.0 million due in 2006 and a convertible, subordinated debenture for approximately $10.7 million due in 2007. Midland is currently the owner of the senior debt and the other notes payable.
