EXHIBIT 10.44
AMENDMENT NO. 1 TO
AMENDED AND RESTATED CREDIT AGREEMENT
-------------------------------------
THIS AMENDMENT NO. 1 TO AMENDED AND
RESTATED CREDIT AGREEMENT ("AMENDMENT") is dated as of the 2 day of October,
1996 by and among UNC INCORPORATED, a corporation organized under the laws of
the State of Delaware ("BORROWER"), FIRST UNION COMMERCIAL CORPORATION, as
administrative agent ("ADMINISTRATIVE AGENT"), FIRST UNION COMMERCIAL
CORPORATION, as collateral agent ("COLLATERAL AGENT"), FIRST UNION NATIONAL
BANK OF NORTH CAROLINA, as issuer of certain letters of credit ("ISSUING
BANK"), the various corporations identified on the signature pages hereto as
a GUARANTOR (each a "GUARANTOR" and collectively, the "GUARANTORS") and the
various banks and lending institutions identified on the signature pages
hereto (collectively, "LENDERS").
STATEMENT OF PURPOSE
----------------------
Pursuant to the terms and provisions of
the Amended And Restated Credit Agreement dated as of May 22, 1996 by and
among the BORROWER, the ADMINISTRATIVE AGENT, the COLLATERAL AGENT, the
ISSUING BANK and the LENDERS ("CREDIT AGREEMENT"), the LENDERS have extended
certain credit facilities to the BORROWER ("CREDIT FACILITY"). The
GUARANTORS have guaranteed the obligations of the BORROWER under the CREDIT
AGREEMENT pursuant to the terms of various Guaranty And Security Agreements
(individually "GUARANTY" and collectively, "GUARANTIES").
The BORROWER has requested that one of
the terms of the CREDIT AGREEMENT be modified in order to provide the
BORROWER with additional borrowing availability under the revolving line of
credit being provided pursuant to the terms of the CREDIT AGREEMENT. The
LENDERS are willing to consent to such modification to the terms of the
CREDIT AGREEMENT pursuant to the terms and provisions of this AMENDMENT.
NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged
by the parties hereto, the parties hereto agree as follows:
Section XIV. RECITALS. The parties hereto hereby acknowledge the
accuracy of the above Statement Of Purpose and hereby incorporate the
Statement Of Purpose into this AMENDMENT.
Section XV. AMENDMENT TO CREDIT AGREEMENT. The CREDIT AGREEMENT is
hereby amended by deleting the words and number "Thirty-six Million Dollars
($36,000,000.00)" from the definition of "BORROWING BASE" contained in
Section 1.1 of the CREDIT AGREEMENT and substituting in lieu thereof the
words and number "Forty-five Million DOLLARS ($45,000,000.00)."
Section XVI. CONSENT OF GUARANTORS. The GUARANTORS hereby consent
to the modifications contained in this AMENDMENT and hereby confirm their
respective obligations under the GUARANTIES.
Section XVII. OTHER TERMS. Except as specifically modified herein,
all other terms and provisions of the CREDIT AGREEMENT and all other
documents executed in connection therewith remain in full force and effect
and are hereby ratified and confirmed. All security interests and liens
previously granted by the BORROWER or the GUARANTORS to secure their
respective obligations under the CREDIT FACILITY remain in full force and
effect and secure their respective obligations under the CREDIT FACILITY as
amended herein. The modifications contained herein shall not constitute
a novation of the BORROWER'S or any of the GUARANTORS' obligations under
the documents evidencing, securing or otherwise documenting the CREDIT
FACILITY.
Section XVIII. BINDING NATURE. This AMENDMENT shall be binding upon
and inure to the benefit of the parties hereto, and their respective
successors and assigns.
Section XIX. GOVERNING LAW. This AMENDMENT shall be governed by and
construed and enforced in accordance with the laws of the State of Maryland,
without reference to the conflicts or choice of law principles thereof.
Section XX. DELIVERY BY TELECOPIER. This AMENDMENT may be delivered
by telecopier and a telefacsimile of any parties signature hereto shall
constitute an original signature for all purposes.
Section XXI. COUNTERPARTS. This AMENDMENT may be executed in
multiple counterparts, any one of which need not contain the signatures of
more than one party, but all of which, taken together, shall constitute one
and the same agreement.
IN WITNESS WHEREOF, the parties hereto have executed this AMENDMENT
under seal as of the date first above written.
WITNESS/ATTEST: BORROWER:
UNC INCORPORATED,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
▇▇▇▇▇▇▇ ▇. ▇▇▇▇,
Vice President & Treasurer
WITNESS/ATTEST: ADMINISTRATIVE AGENT:
FIRST UNION COMMERCIAL CORPORATION,
A North Carolina Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
COLLATERAL AGENT:
FIRST UNION COMMERCIAL CORPORATION,
A North Carolina Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
ISSUING BANK:
FIRST UNION NATIONAL BANK OF
NORTH CAROLINA
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
LENDERS:
FIRST UNION COMMERCIAL CORPORATION
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
THE BANK OF NEW YORK COMMERCIAL
CORPORATION
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
IBJ ▇▇▇▇▇▇▇▇▇ BANK & TRUST CO.
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
BANK ONE, COLUMBUS, N.A.
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
SANWA BUSINESS CREDIT CORPORATION
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
PROVIDENT BANK OF MARYLAND
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
GUARANTORS:
UNC HOLDINGS, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC/▇▇▇▇ SERVICES, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ALL FAB, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ▇▇▇▇▇▇▇ SERVICING, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ▇▇▇▇▇▇▇ TECHNOLOGY, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ARTEX, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC CAMCO INCORPORATED,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC TEXAS CAMCO INCORPORATED,
A Delaware Corporation
________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ARDCO INCORPORATED,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ENGINE & ENGINE PARTS, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ACCESSORY OVERHAUL GROUP, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC AVIATION SERVICES, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC TRI-INDUSTRIES, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC AIRWORK CORPORATION,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC PACIFIC AIRMOTIVE CORPORATION, INC.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC PARTS COMPANY,
A Maryland Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC/CFC ACQUISITION CO.,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________
UNC ▇▇▇▇▇▇▇ COMPANY,
A Delaware Corporation
_________________________ By: _________________________(SEAL)
Name:____________________
Title:___________________