{"id":41158,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/modification-agreement-bank-one-arizona-na-and-schuff-steel-co.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"modification-agreement-bank-one-arizona-na-and-schuff-steel-co","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/finance\/modification-agreement-bank-one-arizona-na-and-schuff-steel-co.html","title":{"rendered":"Modification Agreement &#8211; Bank One Arizona NA and Schuff Steel Co."},"content":{"rendered":"<pre>\n                                                    BANK ONE, ARIZONA, NA\n                                                    P.O. BOX 71, DEPT. AZ1-1178\n                                                    PHOENIX, AZ 85001-0071\n\nBANK ONE                                            May 7, 1997\n\n\nSchuff Steel Company\nP.O. Box 39670\nPhoenix, AZ 85069\n\nRe: Revolving Line of Credit Note in the principal amount of $6,500,000.00,\ndated June 30, 1995 ('Loan') made pursuant to Revolving Line of Credit Loan\nAgreement (Accounts Receivable and Inventory), dated June 30, 1995, as modified\n('Loan Agreement') between SCHUFF STEEL COMPANY, an Arizona corporation\n('Borrower') and Bank One, Arizona, NA ('Bank')\n\n\nGentlemen:\n\nThe Loan Agreement shall be modified as follows:\n\n1. The last sentence of Section 1.2 of the Loan Agreement is modified to read\n   in its entirety as follows:\n\n        Notwithstanding anything in this paragraph to the contrary, and until\n        July 31, 1997, Borrower shall be entitled to Advances of the Loan of at\n        least $2,500,000.00 regardless of the Borrowing Base calculation. After\n        July 31, 1997, Borrower shall be entitled to Advances of the Loan of at\n        least $1,000,000.00, regardless of the Borrowing Base calculation.\n\nAll other terms and conditions of the Loan, including the Loan Agreement and\nall other agreements, documents and instruments evidencing, securing, or\notherwise relating to the Loan (collectively, 'Loan Documents') shall remain in\nfull force and effect.\n\nIf the foregoing terms of this Letter Agreement meet with your approval, please\nsign where indicated below, have the Consent of Guarantor(s) executed by the\nguarantors, and return a fully executed copy to the Bank to the attention of\nBrad Richards.\n\n\n                                        BANK ONE, ARIZONA, NA\n\n                                        By  \/s\/ Brad Richards\n                                          -----------------------------\n                                          Brad Richards, Vice President\n\nCONSENTED AND AGREED TO:\n\n'Borrower'\n\nSCHUFF STEEL COMPANY,\nan Arizona corporation\n\nBy  \/s\/ David A. Schuff\n  -------------------------\n  David A. Schuff, Chairman\n\n\n                                       1\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6850,8773],"corporate_contracts_industries":[9415,9481],"corporate_contracts_types":[9560,9567],"class_list":["post-41158","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-bank-one-corp","corporate_contracts_companies-schuff-international-inc","corporate_contracts_industries-financial__banks","corporate_contracts_industries-construction__specialty","corporate_contracts_types-finance","corporate_contracts_types-finance__loan"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/41158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=41158"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=41158"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=41158"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=41158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}