FIRST AMENDMENT TO CREDIT AGREEMENT
FIRST AMENDMENT, dated as of December 3, 1997 (this "Amendment"), to the Amended
and Restated Credit Agreement, dated as of June 6, 1997, as amended and restated
through November 6, 1997 (the "Credit Agreement"), among Key Energy Group, Inc.,
a Maryland corporation (the "Borrower"), the several Lenders from time to time
parties thereto, PNC Bank, National Association, as Administrative Agent and
Norwest Bank Texas, N.A., as Collateral Agent.
W I T N E S S E T H:
WHEREAS, the Borrower, the Lenders, the Administrative Agent and the Collateral
Agent are parties to the Credit Agreement;
WHEREAS, the Borrower has requested that the Lenders increase the aggregate
amount of the Commitments under the Credit Agreement to $250,000,000 and to
amend certain terms in the Credit Agreement in the manner provided for herein;
and
WHEREAS, the Administrative Agent and the Lenders are willing to agree to
increase the aggregate amount of the Commitments under the Credit Agreement to
$250,000,000 and are willing to agree to the requested amendments;
NOW THEREFORE, in consideration of the premises and mutual covenants hereinafter
set forth, the parties hereto hereby agree as follows:
1. Defined Terms. Unless otherwise defined herein, terms which are defined in
the Credit Agreement and used herein (and in the recitals hereto) as
defined terms are so used as so defined.
2. (a) Assignment and Transfer; Increase in Commitments; Amendment to Schedule
1.1; Joinder of Lenders. PNC Bank, National Association, the "Transferor
Lender") hereby irrevocably sells, assigns and transfers to each Purchasing
Lender identified on Schedule I hereto (each a "Purchasing Lender" and
collectively, the "Purchasing Lenders") without recourse to the Transferor
Lender, and each Purchasing Lender hereby irrevocably purchases and assumes
from the Transferor Lender without recourse to the Transferor Lender, as of
the First Amendment Effective Date (as defined below), the interests
described in Schedule I hereto in and to the Transferor Lender's rights and
obligations under the Credit Agreement with respect to those credit
facilities contained in the Credit Agreement as are set forth on Schedule I
hereto, such that after giving effect to such sale, assignment and
transfer, the Commitments and the Commitment Percentages of the Transferor
Lender and the Purchasing Lenders shall be as set forth on Exhibit A
hereto.
(b)
(c) The Transferor Lender (i) makes no representation or warranty and assumes
no responsibility with respect to any statements, warranties or
representations made in or in connection with the Credit Agreement or with
respect to the execution, legality, validity, enforceability, genuineness,
sufficiency or value of the Credit Agreement, any other Loan Document or
any other instrument or document furnished pursuant thereto, other than
that such Transferor Lender has not created any adverse claim upon the
interest being assigned by it hereunder and that such interest is free and
clear of any such adverse claim; (ii) makes no representation or warranty
and assumes no responsibility with respect to the financial condition of
the Borrower, any of its Subsidiaries or any other obligor or the
performance or observance by the Borrower, any of its Subsidiaries or any
other obligor of any of their respective obligations under the Credit
Agreement or any other Loan Document or any other instrument or document
furnished pursuant hereto or thereto; and (iii) attaches the Note held by
it and (A) requests that the Administrative Agent, upon request by any
Purchasing Lender, exchange the attached Note for a new Note payable to
such Purchasing Lender in the aggregate face amount of its Commitment as
set forth on Exhibit A hereto and (B) requests that the Administrative
Agent exchange the attached Note for a new Note payable to the Transferor
Lender, in an amount which reflects the assignments being made hereby.
(d)
(e) Each Purchasing Lender (i) represents and warrants that it is legally
authorized to enter into this Amendment; (ii) confirms that it has received
a copy of the Credit Agreement, together with copies of the financial
statements referred to in subsection 4.1 or delivered pursuant to
subsection 6.1 thereof and such other documents and information as it has
deemed appropriate to make its own credit analysis and decision to enter
into this Amendment; (iii) agrees that it will, independently and without
reliance upon the Transferor Lender, the Administrative Agent or any other
Lender and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Credit Agreement, the other Loan
Documents or any other instrument or document furnished pursuant hereto or
thereto; (iv) appoints and authorizes the Administrative Agent to take such
action as agent on its behalf and to exercise such powers and discretion
under the Credit Agreement, the other Loan Documents or any other
instrument or document furnished pursuant hereto or thereto as are
delegated to the Administrative Agent by the terms thereof, together with
such powers as are incidental thereto; and (v) agrees that it will be bound
by the provisions of the Credit Agreement and will perform in accordance
with its terms all the obligations which by the terms of the Credit
Agreement are required to be performed by it as a Lender including, if it
is organized under the laws of a jurisdiction outside the United States,
its obligation pursuant to subsection 2.16(b) of the Credit Agreement.
(f)
(g) In connection with the foregoing assignments and transfers and subject to
the terms and conditions hereof, the Borrower, the Transferor Lender, the
Purchasing Lenders and the Administrative Agent hereby agree that the
Commitments of the Lenders shall be increased, on and as of the First
Amendment Effective Date and subject to the terms and conditions hereof and
of the Credit Agreement, to $250,000,000 and, in order to effect such
increase in the Commitments, the Borrower, the Transferor Lender, the
Purchasing Lenders and the Administrative Agent hereby agree that Schedule
1.1A to the Credit Agreement shall be amended by deleting such Schedule in
its entirety and substituting in lieu thereof a new Schedule to read in its
entirety as set forth in Exhibit A hereto.
(h)
(i) All principal payments that would otherwise be payable from and after the
First Amendment Effective Date to or for the account of the Transferor
Lender and the Purchasing Lenders pursuant to the Credit Agreement and the
Notes shall, instead, be payable to or for the account of the Transferor
Lender and the Purchasing Lenders in accordance with their respective
interests as reflected in Exhibit A hereto.
(j)
(k) All interest, fees and other amounts that would otherwise accrue for the
account of the Transferor Lender and the Purchasing Lenders from and after
the First Amendment Effective Date shall, instead, accrue for the account
of, and be payable to, the Transferor Lender and the Purchasing Lenders in
accordance with their respective interests as reflected in Exhibit A
hereto.
(l)
(m) The Transferor Lender and Purchasing Lenders hereby confirm and agree that,
from and after the First Amendment Effective Date, all participation of the
Lenders in respect of Letters of Credit pursuant to subsection 3.4(a) shall
be based upon the Commitment Percentages of the Lenders as reflected in
Exhibit A hereto.
(n)
(o) Each of the Transferor Lender and Purchasing Lenders agrees that, at any
time and from time to time upon the written request of the other Transferor
Lender or any other Purchasing Lender, it will execute and deliver such
further documents and do such further acts and things as such other party
may reasonably request in order to effect the sale, assignment and transfer
set forth in this Section 2.
(p)
(q) From and after the First Amendment Effective Date, (a) each Purchasing
Lender shall be a party to the Credit Agreement and, to the extent provided
in this Amendment, have the rights and obligations of a Lender thereunder
and under the other Loan Documents and shall be bound by the provisions
thereof and (b) the Transferor Lender shall, to the extent provided in this
Amendment, relinquish its rights and be released from its obligations under
the Credit Agreement.
(r)
3. Amendment of Subsection 1.1. Subsection 1.1 of the Credit Agreement is hereby
amended as follows:
4.
(a) by adding the following new definition in the proper alphabetical order:
(b) "First Amendment Effective Date": December 3, 1997.
(a) by deleting clause (i) (x) in the proviso to the definition of "Permitted
Acquisitions" and substituting in lieu thereof the following clause:
(b) (x) the Consolidated Leverage Ratio shall not be more than the lesser of
3.75 to 1.00 or the ratio set forth in subsection 7.1(a) applicable to the
Borrower at the time of such acquisition.
1. Amendment of Subsection 2.7. Subsection 2.7 of the Credit Agreement is hereby
amended by deleting the words "Section 7.6(e)" in paragraph (c) thereof, and
substituting in lieu thereof the words: "Section 7.6(d)".
2.
3. Amendment of Subsection 2.9. Subsection 2.9 of the Credit Agreement is hereby
amended by inserting the word "time" at the end of such subsection.
4.
5. Amendment of Subsection 2.17. Subsection 2.17 of the Credit Agreement is
hereby amended by inserting at the end of clause (c) of such subsection the
following phrase:
6. , or the assignment of any Eurodollar Loan on a day which is not the last day
of an Interest Period with respect thereto as a result of the replacement of a
Lender pursuant to Subsection 2.20.
1. Amendment of Subsection 7.5. Subsection 7.5 of the Credit Agreement is hereby
amended by deleting the words "Section 2.9(c)" in paragraph (c) thereof, and
substituting in lieu thereof the phrase: "Section 2.7(c), to the extent
applicable".
2.
3. Amendment of Subsection 7.10. Subsection 7.10 of the Credit Agreement is
hereby amended by deleting in its entirety the exception appearing immediately
before the proviso therein, and substituting in lieu thereof the following
exception:
4. except that, after 90% of the original outstanding principal amount of
Convertible Subordinated Debentures have been converted into common stock
of the Borrower, the Borrower may, at any time when no Default or Event of
Default has occurred and is continuing, repurchase or redeem the remaining
outstanding Convertible Subordinated Debentures and, after 90% of the
original outstanding principal amount of 1997 Convertible Subordinated
Notes have been converted into common stock of the Borrower, the Borrower
may, at any time when no Default or Event of Default has occurred and is
continuing, repurchase or redeem the remaining outstanding 1997 Convertible
Subordinated Notes;
1. Waiver of Subsection 10.6(f). In connection with the assignments and
transfers effected by Section 2 hereof, the Administrative Agent and the Lenders
hereby waive compliance by the Transferor Lender and the Purchasing Lenders with
the requirements of subsection 10.6(f) of the Credit Agreement to the extent and
only to the extent that such subsection would require the payment of a
registration and processing fee in connection such assignments and transfers.
2.
3. Conditions to Effectiveness of this Amendment. The effectiveness of this
Amendment is subject to the satisfaction of the following conditions precedent:
(a) Amendment. The Administrative Agent shall have received this Amendment,
executed and delivered by a duly authorized officer of the Borrower, the
Transferor Lender and each of the Purchasing Lenders set forth on Schedule
I hereto and (ii) the attached Acknowledgement and Consent, executed and
delivered by a duly authorized officer of each of the signatories thereto.
(a) No Default. No Default or Event of Default shall have occurred and be
continuing on the date hereof or after giving effect to the amendment
contemplated hereby.
(a) Representations and Warranties. Except to the extent that they are made as
of a specific date, each of the representations and warranties made by any
Loan Party in or pursuant to the Loan Documents shall be true and correct
in all material respects on and as of the date hereof as if made on and as
of the date hereof.
(a) Corporate Proceedings of Loan Parties. The Administrative Agent shall have
received, with a counterpart for each Lender, a copy of the resolutions of
the Board of Directors of each Loan Party authorizing (i) the execution,
delivery and performance of this Amendment, and (ii) in the case of the
Borrower, the borrowings contemplated hereunder, certified by its Secretary
or Assistant Secretary as of the First Amendment Effective Date, which
certificate shall state that the resolutions thereby certified have not
been amended, modified, revoked or rescinded as of the date of such
certificate.
(a) Incumbency Certificates . The Administrative Agent shall have received,
with a copy for each Lender, a certificate of the Secretary or an Assistant
Secretary of each Loan Party dated the First Amendment Effective Date, as
to the incumbency and signature of the officers of each Loan Party
executing this Amendment, together with evidence of the incumbency of such
Secretary or Assistant Secretary.
1. Miscellaneous.
(a) Effect. Except as expressly amended hereby, all of the representations,
warranties, terms, covenants and conditions of the Loan Documents shall
remain unamended and not waived and shall continue to be in full force in
effect.
(b)
(c) Counterparts. This Amendment may be executed by one or more of the parties
to this Amendment on any number of separate counterparts (including by
telecopy), and all of said counterparts taken together shall be deemed to
constitute one and the same instrument. A set of the copies of this
Amendment signed by all the parties shall be lodged with the Borrower and
the Administrative Agent.
(d)
(e) Severability. Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.
(f)
(g) Integration. This Amendment and the other Loan Documents represent the
agreement of the Loan Parties, the Administrative Agent, the Collateral
Agent and the Lenders with respect to the subject matter hereof, and there
are no promises, undertakings, representations or warranties by the
Administrative Agent, the Collateral Agent or any Lender relative to the
subject matter hereof not expressly set forth or referred to herein or in
the other Loan Documents.
(h)
(i) GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
(j)
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their proper and duly authorized officers as of the
day and year first above written.
(a)
KEY ENERGY GROUP, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Executive Vice President
PNC BANK, NATIONAL ASSOCIATION
as Administrative Agent and as the
Transferor Lender
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
Title: Vice President
NORWEST BANK TEXAS, N.A.
as Collateral Agent and as a
Purchasing Lender
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Senior Vice President
THE BANK OF NEW YORK, as a
Purchasing Lender
By: /s/ ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
BHF-BANK AKTIENGESELLSCHAFT, as a
Purchasing Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇
Title: Vice President
By: /s/ ▇▇▇▇ ▇▇▇▇▇
Title: Assistant Vice President
CREDIT LYONNAIS NEW YORK BRANCH, as a
Purchasing Lender
By: /s/ Philipe Soustra
Title: Senior Vice President
HIBERNIA NATIONAL BANK, as a Purchasing
Lender
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Assistant Vice President
▇▇▇▇▇▇ COMMERCIAL PAPER INC.,
as a Purchasing Lender
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Authorized Signatory
COMMERCIAL LOAN FUNDING TRUST INC.,
as a Purchasing Lender
By:▇▇▇▇▇▇ COMMERCIAL PAPER INC.,
not in its individual capacity but solely as administrative Agent
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Authorized Signatory
BANK ONE, TEXAS, N.A., as a Purchasing Lender
By: /s/ ▇.▇. ▇▇▇▇ ▇▇▇▇▇▇▇
Title: Vice President
CORESTATES BANK, N.A., as a Purchasing Lender
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Assistant Vice President
DEN NORSKE BANK ASA, as a Purchasing Lender
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇
Title: Senior Vice President
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Senior Vice President
THE FIRST NATIONAL BANK OF CHICAGO,
as a Purchasing Lender
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Title: Vice President
▇▇▇▇▇▇▇ ▇▇▇▇▇ CREDIT PARTNERS L.P.,
as a Purchasing Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇
Title: Authorized Signatory
FUJI BANK, as a Purchasing Lender
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Vice President & Manager
THE BANK OF NOVA SCOTIA, as a Purchasing Lender
By: /s/ F.C.H. ▇▇▇▇▇
Title: Senior Manager Loan Operations
ACKNOWLEDGEMENT AND CONSENT
Each of the undersigned corporations, as a guarantor under that certain Master
Guarantee and Collateral Agreement, dated as of June 6, 1997 (as amended,
supplemented or otherwise modified from time to time, the "Guarantee"), made by
each of such corporations in favor of the Collateral Agent, confirms and agrees
that the Guarantee is, and shall continue to be, in full force and effect and is
hereby ratified and confirmed in all respects and the Guarantee and all of the
Collateral (as defined in the Guarantee Agreement) do, and shall continue to,
secure the payment of all of the Obligations (as defined in the Guarantee)
pursuant to the terms of the Guarantee. Capitalized terms not otherwise defined
herein shall have the meanings assigned to them in the Credit Agreement referred
to in the Amendment to which this Acknowledgement and Consent is attached.
YALE E. KEY, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
WELLTECH EASTERN, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
TST PARAFFIN SERVICE COMPANY, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
KEY ENERGY DRILLING, INC.
d/b/a ▇▇▇▇▇ ▇▇▇▇ DRILLING
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
KALKASKA OILFIELD SERVICES, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
ODESSA EXPLORATION INCORPORATED
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
PHOENIX WELL SERVICE, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
WELL-CO OIL SERVICE, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
▇▇▇▇▇▇▇ WELL SERVICE, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
▇▇▇▇▇▇ WELL SERVICE, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
RAM OILWELL SERVICE, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
▇▇▇▇▇▇▇ TRUCKING CO., INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
LANDMARK FISHING & RENTAL, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
BRW DRILLING, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
▇▇▇▇▇▇ WELL SERVICE, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
FRONTIER WELL SERVICE, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
KEY ROCKY MOUNTAIN, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
KEY FOUR CORNERS, INC.
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Vice President
FIRST AMENDMENT
TRANSFERS
Purchasing Lenders Commitment Assigned Loan Assigned L/C Participations
Assigned
Credit Lyonnais New York Branch $22,500,000 $6,480,000 $100,054.17
Hibernia National Bank $22,500,000 $6,480,000 $100,054.17
The Bank of New York $19,500,000 $5,616,000 $86,713.61
BHF-BANK Aktiengellschaft $19,500,000 $5,616,000 $86,713.61
The First National Bank of Chicago $19,500,000 $5,616,000 $86,713.61
▇▇▇▇▇▇▇ Sachs Credit Partners L.P. $19,500,000 $5,616,000 $86,713.61
The Fuji Bank, Ltd. $19,500,000 $5,616,000 $86,713.61
The Bank of Nova Scotia $13,750,000 $3,960,000 $61,144.22
Bank One, Texas, N.A. $13,750,000 $3,960,000 $61,144.22
Corestates Bank, N.A. $13,750,000 $3,960,000 $61,144.22
Den norske Bank ASA $13,750,000 $3,960,000 $61,144.22
Commercial Loan Funding Trust I $10,000,000 $2,880,000 $44,468.52
▇▇▇▇▇▇ Commercial Paper Inc. $ 3,750,000 $1,080,000 $16,175.70
Norwest Bank Texas, N.A. $13,750,000 $3,960,000 $61,144.22
Total $225,000,000 $64,800,000 $1,000,541.71
Commitments; Lending Offices and Addresses
Bank Commitment Commitment Percentage
PNC Bank $25,000,000 10.00%
▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇
Attention: ▇▇. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Credit Lyonnais New York Branch $22,500,000 9.00%
c/o its representative office at:
▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: ▇▇▇ ▇▇▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Hibernia National Bank $22,500,000 9.00%
▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇▇
▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇ ▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
The Bank of New York $19,500,000 7.80%
Energy Industries Division
▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇▇▇▇▇ ▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇/7924
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
BHF-BANK Aktiengellschaft $19,500,000 7.80%
▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Attention: ▇▇▇▇ ▇▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
The First National Bank of Chicago $19,500,000 7.80%
One First ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
▇▇▇▇▇▇▇ Sachs Credit Partners L.P. $19,500,000 7.80%
▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇.▇. ▇▇▇▇▇
Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
The Fuji Bank, Ltd. $19,500,000 7.80%
▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇ ▇▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
The Bank of Nova Scotia $13,750,000 5.50%
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Attention: ▇▇▇▇▇ ▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Bank One, Texas, N.A. $13,750,000 5.50%
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▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: Wm. ▇▇▇▇ ▇▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Corestates Bank, N.A. $13,750,000 5.50%
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FC 1-8-3-14
Philadelphia, PA 19106
Attention: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Den norske Bank ASA $13,750,000 5.50%
Three ▇▇▇▇▇ Center
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▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇ ▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Commercial Loan Funding Trust I $10,000,000 4.00%
c/o Texas Commerce National Associates
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ - ▇▇▇ ▇▇▇▇▇
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Attention: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
▇▇▇▇▇▇ Commercial Paper Inc. $ 3,750,000 1.50%
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Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Telephone: (▇▇▇) ▇▇▇-▇▇▇▇
Norwest Bank Texas, N.A. $13,750,000 5.50%
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Attention: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Telecopy: ▇▇▇-▇▇▇-▇▇▇▇
Telephone: ▇▇▇-▇▇▇-▇▇▇▇
Total $250,000,000 100.00%