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EXHIBIT 10(q)
FIRST AMENDMENT TO CREDIT AGREEMENT
THIS FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of January 18, 1996
(this "Amendment") is by and among LESCO, INC., an Ohio corporation
("Borrower") and NATIONAL CITY BANK, PNC BANK, NATIONAL ASSOCIATION, NBD BANK,
N.A. (the "Banks") and NATIONAL CITY BANK, as agent of the Banks,
("NCB-Agent").
RECITALS
A. Borrower, the Banks and NCB-Agent have executed a credit
agreement, dated as of September 30, 1994 pursuant to which the Banks have
agreed to make subject loans to Borrower upon a revolving basis until September
30, 1998 (or such later expiration date, if any, as may be established from
time to time).
B. Borrower, the Banks and NCB-Agent desire to amend the credit
agreement to temporarily increase the amount of the Revolving Commitments to
seventy million dollars ($70,000,000).
AGREEMENT
Based upon these recitals, the parties agree as follows:
1. Subsection 2A.01 AMOUNTS of the credit agreement shall be deleted in its
entirety and the following shall be substituted in place thereof:
"2A.01 AMOUNTS -- The aggregate amount of the Revolving Commitments
shall not at any time exceed seventy million dollars ($70,000,000) for
the period January 18, 1996 through September 30, 1996 nor exceeds
forty-five million dollars ($45,000,000), thereafter PROVIDED,
HOWEVER, that such amounts may be reduced from time to time pursuant
to subsection 2A.03 and the Revolving Commitments may be terminated
pursuant to section 5B. The amount of each Bank's maximum Revolving
Commitment (subject to such reduction or termination), and the
proportion (expressed as a fraction) that it bears to all of the
Revolving Commitments, is set forth opposite the Bank's name below,
to-wit:"
January 18, 1996 - September 30, 1996
$38,888,888.88 5/9 National City Bank
$15,555,555.56 2/9 NBD Bank, N.A.
$15,555,555.56 2/9 PNC Bank, National
-------------- --- Association
$70,000,000.00 9/9 Total
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On and after September 30, 1996
$25,000,000.00 5/9 National City Bank
$10,000,000.00 2/9 NBD Bank, N.A.
$10,000,000.00 2/9 PNC Bank, National
-------------- --- Association
$45,000,000.00 9/9 Total
Except for the modifications set forth in this First Amendment To
Credit Agreement, the credit agreement referred to above, as amended, is
ratified and affirmed and shall be binding upon the parties, their successors
and assigns.
IN WITNESS WHEREOF, the parties have executed this amendment as of the
date first above written.
Address: LESCO, INC.
20005 Lake Road
Rocky River, Ohio 44116
By /s/ Paul Arling
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Title CFO
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Address: NATIONAL CITY BANK, AGENT
1900 East Ninth Street
Attn: Multinational Division
Cleveland, Ohio 44114-3484 By /s/ David R. Evans
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David R. Evans
Senior Vice President
Address: NATIONAL CITY BANK
1900 East Ninth Street
Attn: Metro Ohio Division
Cleveland, Ohio 44114-3484 By /s/ David R. Evans
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David R. Evans
Senior Vice President
Address: PNC BANK, NATIONAL ASSOCIATION
1801 E. 9th St., #715
Cleveland, Ohio 44114-3103
By ___________________________
Address: NBD BANK, N.A.
611 Woodward Avenue
Detroit, Michigan 48226
By ___________________________