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EXHIBIT 4.3
AMENDMENT ONE TO AGENTED REVOLVING
CREDIT AND TERM LOAN AGREEMENT
This Amendment One to Agented Revolving Credit and Term Loan
Agreement
("Amendment") is dated as of October 14, 2003, among ORCHIDS
PAPER PRODUCTS
COMPANY, a Delaware corporation ("Borrower"), and BANK OF
OKLAHOMA, N.A. and
LOCAL OKLAHOMA BANK, N.A. (individually a "Bank" and
collectively the "Banks"),
and BANK OF OKLAHOMA, N.A., as agent for the Banks hereunder (in
such capacity,
the "Agent").
RECITALS
A. Reference is made to the Agented Revolving Credit and Term
Loan
Agreement dated October 15, 2002 among Borrower and Banks
("Credit Agreement"),
pursuant to which currently exists: (i) a $6,500,000 term loan
("$6,500,000 Term
Loan"), (ii) a $4,000,000 term loan ("$4,000,000 Term Loan"),
and (iii) a
$4,500,000 revolving line of credit ("$4,500,000 Revolving
Line"), evidenced by
the $3,000,150 Line Note and the $1,499,850 Line Note. Terms
used herein shall
have the meanings given in the Credit Agreement, unless
otherwise defined
herein.
B. Borrower has requested that the Bank extend the maturity date
of the
$3,000,150 Line Note and the $1,499,850 Line Note; and the Banks
have agreed to
Borrower's request, subject to the terms and conditions of this
Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the representations and
warranties
contained herein and for valuable consideration received, the
parties agree to
the following:
1. Amendments to the Credit Agreement. The Credit Agreement is
hereby
amended, as follows:
1.1. Section 1.66 ("Termination Date") is hereby amended to
evidence
that the termination date shall now mean and read "January 14,
2004".
1.2. The $3,000,150 Line Note, attached to the Credit Agreement
as
Schedule "1.67" is hereby replaced with the $3,000,150 Line
Note
("$3,000,150 Renewal Note") attached hereto as Schedule
"1.2".
1.3. The $1,499,850 Line Note, attached to the Credit Agreement
as
Schedule "1.48" is hereby rep
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