Exhibit 4.2.2
AMENDMENT
DATED AS OF JANUARY 27, 1995
TO
CREDIT AND SECURITY AGREEMENT
DATED AS OF NOVEMBER 30, 1992
Reference is hereby made to that certain Credit and Security
Agreement ("Credit Agreement") dated as of November 30, 1992 among
Principal Mutual Life Insurance Company, Aetna Life Insurance
Company, The Northwestern Mutual Life Insurance Company, Chemical
Bank, Seattle-First National Bank and Bank of America Oregon, and
WTD Industries, Inc. and its Affiliates and the Term Notes issued
by the Borrowers in connection with the Credit Agreement.
Capitalized terms used herein shall have the same meaning ascribed
thereto in the Credit Agreement.
The Term Note originally issued to Aetna Life Insurance
Company was split into two Notes which were sold to Franklin
Principal Maturity Trust ("Franklin") and Foothill Group, Inc. The
Term Notes originally issued to Chemical Bank, Seattle-First
National Bank, and Bank of America Oregon were sold to Oppenheimer
& Co., Inc. ("Oppenheimer").
Pursuant to that certain Offer to Purchase dated January 13,
1995, Borrowers purchased $708,391.93 original face amount
($653,537.53 current principal amount) of Franklin's Term Note and
$2,904,723.36 original face amount ($2,679,795.80 current principal
amount) of Oppenheimer's Term Notes. Borrowers thereupon issued to
Franklin and Oppenheimer substitute Term Notes reflecting the new
principal amount owed to each after the purchase. Pursuant to the
terms of the Offer to Purchase, $3,613,115.29 aggregate original
face amount ($3,333,333.33 aggregate current principal amount) of
Term Notes was cancelled. The purchase and cancellation has the
effect of reducing the proportionate share of future scheduled
principal and interest payments for Franklin and Oppenheimer and
increasing the proportionate shares of each Lender who did not
participate in the Offer to Purchase. Accordingly, certain exhibits
to the Credit Agreement require amendment as follows:
1. Credit Agreement Exhibits 2.04(a) and 2.05(b) are hereby
restated in the form, respectively, of Exhibit 2.04(a) (Restated
01/27/95) and Exhibit 2.05(b) (Restated 01/27/95) attached hereto
and incorporated herein.
2. In all other respects, the Credit Agreement shall remain
unchanged and in full force and effect.
EFFECTIVE DATE: January 27, 1995.
PRINCIPAL MUTUAL LIFE THE NORTHWESTERN MUTUAL LIFE
INSURANCE COMPANY INSURANCE COMPANY
By:___________________________ By:____________________________
Its:__________________________ Its:___________________________
By:___________________________ FOOTHILL GROUP, INC.
Its:__________________________
By:____________________________
Its:___________________________
OPPENHEIMER & CO., INC.
By:___________________________ WTD INDUSTRIES, INC.
Its:__________________________
By:____________________________
Its:___________________________
FRANKLIN PRINCIPAL MATURITY
TRUST
By:___________________________
Its:__________________________
WTD INDUSTRIES, INC. EXHIBIT 2.04(a) (RESTATED 01/27/95)
ALLOCATION OF PRINCIPAL PAYMENTS to Credit and Security Agreement
FOR SECURED PROMISSORY NOTES Dated as of November 30, 1992
(RESTATED AS OF JAN 27, 1995)
100.000000% TOTAL 47.228439% PRINCIPAL 20.235984% NORTHWESTERN 6.838639% OPPENHEIMER
-------------------------- -------------------------- -------------------------- ------------------------
PAYMENT BALANCE PAYMENT BALANCE PAYMENT BALANCE PAYMENT BALANCE
------------ ------------ ----------- ------------- ----------- ------------- ----------- -----------
BALANCE DEC 31, 1994 54,087,212.32 23,970,264.80 10,270,546.98 6,150,670.04
PRINCIPAL PURCHASE
JAN 27, 1995 3,333,333.33 50,753,878.99 0.00 23,970,264.80 0.00 10,270,546.98 2,679,795.80 3,470,874.24
SCHEDULED PAYMENTS
MAR 15, 1995 225,000.00 50,528,878.99 106,263.99 23,864,000.81 45,530.96 10,225,016.02 15,386.94 3,455,487.30
JUN 15, 1995 225,000.00 50,303,878.99 106,263.99 23,757,736.82 45,530.96 10,179,485.06 15,386.94 3,440,100.36
SEP 15, 1995 225,000.00 50,078,878.99 106,263.99 23,651,472.83 45,530.96 10,133,954.10 15,386.94 3,424,713.42
DEC 15, 1995 225,000.00 49,853,878.99 106,263.99 23,545,208.84 45,530.96 10,088,423.14 15,386.94 3,409,326.48
MAR 15, 1996 225,000.00 49,628,878.99 106,263.99 23,438,944.85 45,530.96 10,042,892.18 15,386.94 3,393,939.54
JUN 15, 1996 225,000.00 49,403,878.99 106,263.99 23,332,680.86 45,530.96 9,997,361.22 15,386.94 3,378,552.60
SEP 15, 1996 225,000.00 49,178,878.99 106,263.99 23,226,416.87 45,530.96 9,951,830.26 15,386.94 3,363,165.66
DEC 15, 1996 225,000.00 48,953,878.99 106,263.99 23,120,152.88 45,530.96 9,906,299.30 15,386.94 3,347,778.72
MAR 15, 1997 225,000.00 48,728,878.99 106,263.99 23,013,888.89 45,530.96 9,860,768.34 15,386.94 3,332,391.78
JUN 15, 1997 225,000.00 48,503,878.99 106,263.99 22,907,624.90 45,530.96 9,815,237.38 15,386.94 3,317,004.84
SEP 15, 1997 225,000.00 48,278,878.99 106,263.99 22,801,360.91 45,530.96 9,769,706.42 15,386.94 3,301,617.90
DEC 15, 1997 225,000.00 48,053,878.99 106,263.99 22,695,096.92 45,530.96 9,724,175.46 15,386.94 3,286,230.96
MAR 15, 1998 400,000.00 47,653,878.99 188,913.75 22,506,183.17 80,943.94 9,643,231.52 27,354.56 3,258,876.40
JUN 15, 1998 400,000.00 47,253,878.99 188,913.75 22,317,269.42 80,943.94 9,562,287.58 27,354.56 3,231,521.84
SEP 15, 1998 400,000.00 46,853,878.99 188,913.75 22,128,355.67 80,943.94 9,481,343.64 27,354.56 3,204,167.28
DEC 15, 1998 400,000.00 46,453,878.99 188,913.75 21,939,441.92 80,943.94 9,400,399.70 27,354.56 3,176,812.72
MAR 15, 1999 1,000,000.00 45,453,878.99 472,284.39 21,467,157.53 202,359.84 9,198,039.86 68,386.39 3,108,426.33
JUN 15, 1999 1,000,000.00 44,453,878.99 472,284.39 20,994,873.14 202,359.84 8,995,680.02 68,386.39 3,040,039.94
SEP 15, 1999 1,000,000.00 43,453,878.99 472,284.39 20,522,588.75 202,359.84 8,793,320.18 68,386.39 2,971,653.55
DEC 15, 1999 1,000,000.00 42,453,878.99 472,284.39 20,050,304.36 202,359.84 8,590,960.34 68,386.39 2,903,267.16
MAR 15, 2000 1,000,000.00 41,453,878.99 472,284.39 19,578,019.97 202,359.84 8,388,600.50 68,386.39 2,834,880.77
JUN 15, 2000 1,000,000.00 40,453,878.99 472,284.39 19,105,735.58 202,359.84 8,186,240.66 68,386.39 2,766,494.38
SEP 15, 2000 1,000,000.00 39,453,878.99 472,284.39 18,633,451.19 202,359.84 7,983,880.82 68,386.39 2,698,107.99
DEC 15, 2000 1,000,000.00 38,453,878.99 472,284.39 18,161,166.80 202,359.84 7,781,520.98 68,386.39 2,629,721.60
MAR 15, 2001 1,000,000.00 37,453,878.99 472,284.39 17,688,882.41 202,359.84 7,579,161.14 68,386.39 2,561,335.21
JUN 15, 2001 1,000,000.00 36,453,878.99 472,284.39 17,216,598.02 202,359.84 7,376,801.30 68,386.39 2,492,948.82
SEP 15, 2001 1,000,000.00 35,453,878.99 472,284.39 16,744,313.63 202,359.84 7,174,441.46 68,386.39 2,424,562.43
DEC 15, 2001 1,000,000.00 34,453,878.99 472,284.39 16,272,029.24 202,359.84 6,972,081.62 68,386.39 2,356,176.04
MAR 15, 2002 1,000,000.00 33,453,878.99 472,284.39 15,799,744.85 202,359.84 6,769,721.78 68,386.39 2,287,789.65
JUN 15, 2002 1,000,000.00 32,453,878.99 472,284.39 15,327,460.46 202,359.84 6,567,361.94 68,386.39 2,219,403.26
SEP 15, 2002 1,000,000.00 31,453,878.99 472,284.39 14,855,176.07 202,359.84 6,365,002.10 68,386.39 2,151,016.87
DEC 15, 2002 1,000,000.00 30,453,878.99 472,284.39 14,382,891.68 202,359.84 6,162,642.26 68,386.39 2,082,630.48
MAR 15, 2003 1,000,000.00 29,453,878.99 472,284.39 13,910,607.29 202,359.84 5,960,282.42 68,386.39 2,014,244.09
JUN 15, 2003 1,000,000.00 28,453,878.99 472,284.39 13,438,322.90 202,359.84 5,757,922.58 68,386.39 1,945,857.70
SEP 15, 2003 1,000,000.00 27,453,878.99 472,284.39 12,966,038.51 202,359.84 5,555,562.74 68,386.39 1,877,471.31
DEC 15, 2003 1,000,000.00 26,453,878.99 472,284.39 12,493,754.12 202,359.84 5,353,202.90 68,386.39 1,809,084.92
MAR 15, 2004 1,000,000.00 25,453,878.99 472,284.39 12,021,469.73 202,359.84 5,150,843.06 68,386.39 1,740,698.53
JUN 15, 2004 1,000,000.00 24,453,878.99 472,284.39 11,549,185.34 202,359.84 4,948,483.22 68,386.39 1,672,312.14
SEP 15, 2004 1,000,000.00 23,453,878.99 472,284.39 11,076,900.95 202,359.84 4,746,123.38 68,386.39 1,603,925.75
DEC 15, 2004 BALANCE DUE BALANCE DUE BALANCE DUE BALANCE DUE
WTD INDUSTRIES, INC. EXHIBIT 2.04(a) (RESTATED 01/27/95)
ALLOCATION OF PRINCIPAL PAYMENTS to Credit and Security Agreement
FOR SECURED PROMISSORY NOTES Dated as of November 30, 1992
(RESTATED AS OF JAN 27, 1995)
18.729872% FOOTHILL 6.967066% FRANKLIN
---------------------- ----------------------
PAYMENT BALANCE PAYMENT BALANCE
--------- ----------- --------- -----------
BALANCE DEC 31, 1994 9,506,136.53 4,189,593.97
PRINCIPAL PURCHASE
JAN 27, 1995 0.00 9,506,136.53 653,537.53 3,536,056.44
SCHEDULED PAYMENTS
MAR 15, 1995 42,142.21 9,463,994.32 15,675.90 3,520,380.54
JUN 15, 1995 42,142.21 9,421,852.11 15,675.90 3,504,704.64
SEP 15, 1995 42,142.21 9,379,709.90 15,675.90 3,489,028.74
DEC 15, 1995 42,142.21 9,337,567.69 15,675.90 3,473,352.84
MAR 15, 1996 42,142.21 9,295,425.48 15,675.90 3,457,676.94
JUN 15, 1996 42,142.21 9,253,283.27 15,675.90 3,442,001.04
SEP 15, 1996 42,142.21 9,211,141.06 15,675.90 3,426,325.14
DEC 15, 1996 42,142.21 9,168,998.85 15,675.90 3,410,649.24
MAR 15, 1997 42,142.21 9,126,856.64 15,675.90 3,394,973.34
JUN 15, 1997 42,142.21 9,084,714.43 15,675.90 3,379,297.44
SEP 15, 1997 42,142.21 9,042,572.22 15,675.90 3,363,621.54
DEC 15, 1997 42,142.21 9,000,430.01 15,675.90 3,347,945.64
MAR 15, 1998 74,919.49 8,925,510.52 27,868.26 3,320,077.38
JUN 15, 1998 74,919.49 8,850,591.03 27,868.26 3,292,209.12
SEP 15, 1998 74,919.49 8,775,671.54 27,868.26 3,264,340.86
DEC 15, 1998 74,919.49 8,700,752.05 27,868.26 3,236,472.60
MAR 15, 1999 187,298.72 8,513,453.33 69,670.66 3,166,801.94
JUN 15, 1999 187,298.72 8,326,154.61 69,670.66 3,097,131.28
SEP 15, 1999 187,298.72 8,138,855.89 69,670.66 3,027,460.62
DEC 15, 1999 187,298.72 7,951,557.17 69,670.66 2,957,789.96
MAR 15, 2000 187,298.72 7,764,258.45 69,670.66 2,888,119.30
JUN 15, 2000 187,298.72 7,576,959.73 69,670.66 2,818,448.64
SEP 15, 2000 187,298.72 7,389,661.01 69,670.66 2,748,777.98
DEC 15, 2000 187,298.72 7,202,362.29 69,670.66 2,679,107.32
MAR 15, 2001 187,298.72 7,015,063.57 69,670.66 2,609,436.66
JUN 15, 2001 187,298.72 6,827,764.85 69,670.66 2,539,766.00
SEP 15, 2001 187,298.72 6,640,466.13 69,670.66 2,470,095.34
DEC 15, 2001 187,298.72 6,453,167.41 69,670.66 2,400,424.68
MAR 15, 2002 187,298.72 6,265,868.69 69,670.66 2,330,754.02
JUN 15, 2002 187,298.72 6,078,569.97 69,670.66 2,261,083.36
SEP 15, 2002 187,298.72 5,891,271.25 69,670.66 2,191,412.70
DEC 15, 2002 187,298.72 5,703,972.53 69,670.66 2,121,742.04
MAR 15, 2003 187,298.72 5,516,673.81 69,670.66 2,052,071.38
JUN 15, 2003 187,298.72 5,329,375.09 69,670.66 1,982,400.72
SEP 15, 2003 187,298.72 5,142,076.37 69,670.66 1,912,730.06
DEC 15, 2003 187,298.72 4,954,777.65 69,670.66 1,843,059.40
MAR 15, 2004 187,298.72 4,767,478.93 69,670.66 1,773,388.74
JUN 15, 2004 187,298.72 4,580,180.21 69,670.66 1,703,718.08
SEP 15, 2004 187,298.72 4,392,881.49 69,670.66 1,634,047.42
DEC 15, 2004 BALANCE DUE BALANCE DUE
EXHIBIT 2.05(b) (RESTATED 01/27/95)
Lenders' Percentages
(Restated as of January 27, 1995)
Principal 47.228439 %
Northwestern 20.235984 %
Oppenheimer 6.838639 %
Foothill 18.729872 %
Franklin 6.967066 %