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EXHIBIT
10.3
AMENDMENT TO PURCHASE AND
SALE AGREEMENT
This Amendment is
made and entered into effective as of September 27, 2007 (this
“ Amendment ”) and amends that certain Purchase
and Sale Agreement, dated as of August 3, 2007 and amended as
of September 14, 2007 (the “ Agreement ”),
by and between MeadWestvaco Coated Board, Inc. (“
Seller ”) and Wells Timberland Acquisition, LLC
(“ Purchaser ”). Capitalized terms used but not
defined herein shall have the meanings set forth in the
Agreement.
WHEREAS, Seller and
Purchaser wish to amend the Agreement as set forth
herein;
NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, and intending to be legally bound
hereby, Seller and Purchaser agree as follows:
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Section 3.1 of the Agreement is hereby amended in its
entirety and insert in lieu thereof the following: |
Section 3.1 Closing .
The closing
of the transactions contemplated by this Agreement (the “
Closing ”) shall take place, subject to the
satisfaction, or waiver by the Party or Parties entitled to the
benefit thereof, of the conditions set forth in Article XIII, at
such place as mutually agreed upon by the Parties at 9:00 a.m.,
Eastern Daylight Savings Time, on the later of
(i) October 4, 2007 or (ii) subject to the
provisions of Section 15.1(b) hereof, the date upon which all
of the conditions set forth in Article XIII shall have been
satisfied, or
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