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Exhibit 10.6
Execution Copy
THIRD AMENDMENT TO REIMBURSEMENT
AND CREDIT AGREEMENT
This THIRD
AMENDMENT TO REIMBURSEMENT AND CREDIT AGREEMENT (the “
Third Amendment ”) is made and entered into this 1st
day of June, 2009 by and between THE CONNECTICUT WATER
COMPANY, a corporation duly organized and existing under the
laws of the State of Connecticut with an office at 93 West Main
Street, Clinton, Connecticut 06413 (the “ Borrower
”), and CITIZENS BANK OF RHODE ISLAND, with an office
at One Citizens Plaza, Providence, Rhode Island 02903, (the “
Bank ”).
WITNESSETH:
WHEREAS, the Connecticut Development Authority
issued and sold the $4,550,000 Water Facilities Refunding Revenue
Bonds (The Connecticut Water Company Project-2004B Series (the
“ Bonds ”) and loaned funds to the Borrower
pursuant to the terms of the Indenture;
WHEREAS, the Borrower and the Bank entered into
a Reimbursement and Credit Agreement, dated as of August 1, 2004,
to provide for an irrevocable direct pay letter of credit to be
issued by the Bank for the account of the Borrower to secure the
Bonds, as amended by a First Amendment to Reimbursement and Credit
Agreement dated April 28, 2006 by and between the Borrower and the
Bank and a Second Amendment to Reimbursement and Credit Agreement
dated August 23, 2007 by and between the Borrower and the Bank
(collectively, the “ Agreement
”). Capitalized terms used in this Third Amendment
and not otherwise defined herein shall have the meanings ascribed
thereto in the Agreement;
WHEREAS, the Borrower wishes to increase the
amount of Borrower’s Permitted Indebtedness to the
Connecticut Development Authority;
WHEREAS, the Borrower wishes to increase the
amount of the Borrower’s Permitted Indebtedness to
Connecticut Water Service, Inc. or t
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