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Exhibit 10.62
TWENTIETH AMENDMENT
TWENTIETH AMENDMENT (this "Amendment"), dated as of April 26, 2000,
among ANCHOR GLASS CONTAINER CORPORATION, f/k/a Anchor Glass Acquisition
Corporation, a Delaware Corporation (the "Borrower"), the financial institutions
party to the Credit Agreement referred to below (the "Lenders"), BANKERS TRUST
COMPANY, BT COMMERCIAL CORPORATION, and PNC BANK, NATIONAL ASSOCIATION, as
Co-Syndication Agent and as an Issuing Bank (an "Issuing Bank"). All capitalized
terms used herein and not otherwise defined shall have the respective meanings
provided such terms in the Credit Agreement referred to below.
W I T N E S S E T H :
WHEREAS, the Borrower, the Lenders, the Issuing Banks and the Agent are
parties to a Credit Agreement, dated as of February 5, 1997 (as amended,
modified or supplemented through the date hereof, the "Credit Agreement");
WHEREAS, the Borrower is in default under Section 8.4 of the Credit
Agreement; and
WHEREAS, the parties hereto wish to amend certain provisions of the
Credit Agreement as herein provided, subject to and on the terms and conditions
set forth herein;
NOW, THEREFORE, it is agreed:
1. Section 2.3(c) of the Credit Agreement is hereby amended by
inserting "or until June 15, 2000 for Agent Advances resulting from any Default
under Section 8.4 prior to March 10, 2000" after the phrase "(i) the fifteenth
Business Day after such date."
2. In order to induce the Lenders to enter into this Amendment, the
Borrower hereby represents and warrants that (i) the representations, warranties
and agreements contained in Article 6 of the Credit Agreement are true and
correct in all material respects on and as of the Amendment Effective Date (as
defined in Section 7 of this Amendment and after giving effect thereto) (it
being understood and agreed that any representation or warranty which by its
terms is made as of a specified date shall be required to be true and correct in
all material respects only as of such specified date) and (ii) there exists no
Default or Event of Default, except for the Default described above, on the
Amendment Effective Date, after giving effect to this Amendment.
3. This Amendment is limited as specified and shall not constitute a
modification, acceptance or waiver of any provision of the Credit Agreement or
any other Credit Document.
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4. This Amendment is limited as specified and does not constitute a
modification, acceptance or waiver of the Default under Section 8.4 of the
Credit Agreement described above.
5. This Amendment may be executed in any number of counterparts and by
the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower, the Agent and each Lender.
6. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK.
7. This Amendment shall become effective on the date (the "Amendment
Effective Date") when the Borrower and the Required Lenders shall have signed a
counterpart hereof (whether the same or different counterparts) and shall have
delivered (including by way of facsimile transmission) the same to the Agent at
its address for notice provided for in the Credit Agreement.
8. From and after the Amendment Effective Date, all references in the
Credit Agreement and each of the Credit Documents to the Credit Agreement shall
be deemed to be references to the Credit Agreement as amended hereby.
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IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart
of this Amendment to be duly executed and delivered as of the date first above
written.
ANCHOR GLASS CONTAINER CORPORATION
By /s/ M. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
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Name: ▇. ▇▇▇▇▇▇▇ Lighter
Title: Sr. VP & CFO
BT COMMERCIAL CORPORATION
By
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Name:
Title:
PNC BANK, NATIONAL ASSOCIATION,
Individually, as Co-Syndication
Agent and Issuing Bank
By /s/ Enrico ▇▇▇▇▇ ▇▇▇▇▇
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Name: Enrico ▇▇▇▇▇ ▇▇▇▇▇
Title: V.P Senior Relationship Manager
BANKERS TRUST COMPANY
By
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Name:
Title:
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THE CIT GROUP/BUSINESS CREDIT, INC.
By /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Vice President
FIRST UNION NATIONAL BANK
By /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Director
FLEET BANK
By
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Name:
Title:
KEY CORPORATE CAPITAL, INC.
By
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Name:
Title:
MELLON BANK, N.A.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ III
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ III
Title: Vice President
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NATIONAL BANK OF CANADA
By /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Vice President/Manager
By /s/ ▇▇▇▇ ▇. ▇▇▇▇▇
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Name: ▇▇▇▇ ▇. ▇▇▇▇▇
Title: Vice President
NATIONAL CITY COMMERCIAL FINANCE, INC.
By /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Account Executive
SUMMIT COMMERCIAL/GIBRALTAR CORP.
By /s/ ▇▇▇ ▇▇▇▇▇▇
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Name: ▇▇▇ ▇▇▇▇▇▇
Title: Vice President