SEC Filings

10-Q
RELIANCE STEEL & ALUMINUM CO filed this Form 10-Q on 11/13/2000
Entire Document
 
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<TABLE>
<CAPTION>
                                             Applicable Amount
                                        (in basis points per annum)
               ---------------------------------------------------------------------------
                                          Offshore Rate +
                           -----------------------------------------------
                Standby    From and including the            From and
                Letters      date hereof to and           including 1/1/01
Pricing Level  of Credit     including 12/31/00            and thereafter      Base Rate +
-------------  ---------   -----------------------        -----------------    -----------
<S>            <C>         <C>                            <C>                  <C>
      1          27.50             37.5                         87.5                0
      2          32.50             37.5                         87.5                0
      3          37.50             37.5                         87.5                0
      4          45.00             37.5                         87.5                0
      5          62.50             37.5                         87.5                0"
</TABLE>


               2.2 Schedule 5.16 attached to the Agreement is amended to read as
set forth on Schedule 5.16 attached hereto.

        3. Fee. Concurrently with the execution of this Amendment, Borrower will
pay to Bank a structuring and advisory fee equal to $187,500, representing
three-eighths percent (0.375%) of the Loan Commitment. Upon the closing of the
$400,000,000 syndicated credit facility as described in the Engagement Letter
dated September 29, 2000 from Banc of America Securities LLC to Borrower, Bank
will credit $62,500 of this fee, representing one-eighth percent (0.125%) of the
Loan Commitment, against the structuring and advisory fee owing to Banc of
America Securities LLC in connection with the $400,000,000 syndicated credit
facility.

        4. Representations and Warranties. Borrower represents and warrants to
the Bank that: (a) there is no event which is, or with notice or lapse of time
or both would be, a default under the Agreement, (b) the representations and
warranties in the Agreement are true as of the date of this Amendment as if made
on the date of this Amendment, except with respect to the Schedule 5.16, a
revised copy of which is attached to this Amendment, (c) this Amendment is
within Borrower's powers, has been duly authorized, and does not conflict with
any of Borrower's organizational papers, and (d) this Amendment does not
conflict with any law, agreement, or obligation by which Borrower is bound.

        5. Conditions. This Amendment will be effective when the Bank receives
the following items, in form and content acceptable to the Bank:

               5.1 A duly executed counterpart of this Amendment signed by
Borrower and the Bank.

               5.2 A copy of resolutions adopted by Borrower's board of
directors authorizing the obligations to be incurred by Borrower under the
Agreement, as modified by this Amendment, duly certified by a Responsible
Officer of Borrower.


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