Nautilus 2008 Annual Report Download - page 88

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(j) “Availability Block” is hereby deleted from Section 1.1 of the Loan Agreement.
(k) The first sentence of Section 2.1.7(a) of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
“Provided there exists no Default or Event of Default, upon notice to Agent (which shall promptly notify the Lenders), Borrowers
may request an increase in the Revolver Commitments to an amount not more than $55,000,000, in the aggregate.”
(l) Section 3.2.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
“ Unused Line Fee . Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, a fee equal to 0.50% per annum times the
amount by which the Revolver Commitments exceed the average daily balance of Revolver Loans and stated amount of Letters of
Credit during any month. Such fee shall be payable in arrears, on the first day of each month and on the Commitment Termination
Date.”
(m) The first sentence of Section 5.7 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
“The ledger balance in the main Dominion Account of US Borrower as of the end of a Business Day shall be applied to the
Obligations at the beginning of the next Business Day.”
(n) Section 7.2.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
“ Deposit Accounts
. To further secure the prompt payment and performance of all Obligations, US Borrower hereby grants to Agent,
for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account (other
than Excluded Accounts) of US Borrower, including any sums in any blocked or lockbox accounts or in any accounts into which
such sums are swept. US Borrower authorizes and directs each bank or other depository to deliver to Agent, on a daily basis, all
balances in each Deposit Account (other than Excluded Accounts) maintained by US Borrower with such depository for application
to the Obligations then outstanding pursuant to Section 5.6.1 or 5.7 , as applicable. US Borrower irrevocably appoints Agent as US
Borrower’s attorney-in-fact to collect such balances to the extent any such delivery is not so made.”
(o) Section 8.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
“ Borrowing Base Certificates . By the fourth Business Day of each week, Borrowers shall deliver to Agent (and Agent shall
promptly deliver same to Lenders) a Borrowing Base Certificate prepared as of the close of business of the previous week, and at
such other times as Agent may request. All calculations of Availability in any Borrowing Base Certificate shall originally be made by
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