AMENDMENT NO. FOUR TO CREDIT AGREEMENT
This Amendment No. Four to Credit Agreement (this "Amendment") dated as
of October 20, 2000, is entered into between Reliance Steel & Aluminum Co.
("Borrower") and Bank of America, N.A., formerly Bank of America National Trust
and Savings Association ("Bank").
A. The Bank and Borrower are parties to a certain Credit Agreement dated
as of October 22, 1997, as modified by amendments dated as of April 16, 1998,
September 8, 1998, and September 21, 1998 (as amended, the "Agreement").
B. The Bank and Borrower desire to amend the Agreement for the purpose
of, among other things, reinstating the facility for cash advances under Section
2 of the Agreement in the increased commitment amount of $50,000,000.
1. Definitions. Capitalized terms used but not defined in this Amendment
shall have the meanings given to them in the Agreement.
2. Amendments. The Agreement is hereby amended as follows:
2.1 The definitions of "Loan Commitment," "Loan Maturity Date,"
and "Applicable Amount" in Section 1.1 of the Agreement are amended in full to
read as follows:
"'Loan Commitment' means, for the Bank, the amount of
"'Loan Maturity Date' means the earlier of April 20, 2001
or the date, as determined
by Bank, on which documentation for a
$400,000,000 syndicated credit facility for Borrower, as described in
the Engagement Letter dated September 29, 2000 from Banc of America
Securities LLC to Borrower, is fully executed and all conditions to the
lenders' obligation to extend credit thereunder have been met or waived
in writing by such lenders.
"'Applicable Amount' means, for any Pricing Period, the
per annum amounts set forth below under Applicable Amount opposite the
applicable Pricing Level; provided, however, that until the Bank's
receipt of the second quarterly Compliance Certificate after the Closing
Date required under Section 6.2(a), such interest rates, fees and
commissions shall be those indicated for Pricing Level 3: