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AMENDING AGREEMENT
(REVOLVING LINE OF CREDIT)
THIS AGREEMENT is made effective December 22, 2006.
AMONG:
NORD RESOURCES CORPORATION , a Delaware corporation, with an
office at 1 West Wetmore Road, Suite 203, Tucson, Arizona,
85705
(" Nord ")
AND:
RONALD HIRSCH, an adult individual residing in the county of
Orange, State of California
(" Hirsch ")
AND:
STEPHEN SEYMOUR, an adult individual residing in the county of
Baltimore , State of Maryland
(" Seymour ")
WHEREAS:
(A)
On June 21, 2005, Nord entered into a $600,000 revolving line of
credit agreement (the " Credit Agreement ") and Secured
Promissory Note (the " Note " and together with the Credit
Agreement, the " Revolver ") with Hirsch and Seymour, that
was amended on November 8, 2005, May 5, 2006, August 14, 2006,
August 17, 2006 and September 29, 2006;
(B)
Nord, Hirsch and Seymour wish to amend the terms of the Revolver as
described in this Agreement; and
(C)
Capitalized terms not otherwise herein defined shall have the
meaning ascribed to them in the Revolver.
THIS AGREEMENT WITNESSES that in consideration of the
premises and of the sum of $10 and other good and valuable
consideration now paid by each of the parties to the others (the
receipt and sufficiency of which are hereby acknowledged by the
parties), the parties covenant and agree that;
- 2 -
Revolving Line of Credit
1.
The Maturity Date is the earlier of:
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(a)
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January 19, 2007, or
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(b)
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the closing date of
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(i)
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a registered equity offering and/or a debt
project financing (collectively or separately, a "Funding")
in
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