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Reference is made to the Second Amended and Restated Credit
Agreement dated as of February 27, 2004 (as amended, amended
and restated, supplemented or otherwise modified from time to time,
the “Credit Agreement” ) among CROWLEY
MARITIME CORPORATION, a Delaware corporation (the
“Borrower” ), the Initial Lenders (as
defined in the Credit Agreement), Citibank, N.A., as issuing bank,
Citicorp USA, Inc., as administrative agent (together with any
successor agent appointed pursuant to Article VIII, the
“Administrative Agent”) for the Lender Parties and as
Collateral Agent (as defined in the Credit Agreement) and Citigroup
Global Markets Inc. as Arranger. Terms defined in the Credit
Agreement are used herein with the same meaning.
WHEREAS, the Borrower has requested an increase in the Commitments
pursuant to Section 2.17 of the Credit Agreement (the
“Revolving Credit Commitment Increase”
); and
WHEREAS, Fortis Capital Corp. (the “Post-Increase
Revolving Credit Lender” ) has agreed to provide an
incremental Commitment (an “Incremental Revolving
Credit Commitment” ) and to become a party to the
Credit Agreement;
NOW,
THEREFORE, for good and valid consideration, the sufficiency of
which hereby is acknowledged, the Post-Increase Revolving Credit
Lender hereby agrees as follows:
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(1) The Post-Increase Revolving Credit Lender agrees to
provide the Incremental Revolving Credit Commitment set forth
opposite its name on Schedule 1 hereto, effective as of the
date upon which the conditions precedent set forth in
Section 2.17(d) of the Credit Agreement shall have been met
(the “Increase Effective Date” ). Such
Incremental Revolving Credit Commitment shall be subject to the
terms and conditions set forth in the Credit Agreement and shall be
a “Commitment” thereunder.
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(2) Upon the Increase Effective Date, the Post-Increase
Revolving Credit Lender shall become a “Lende
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