EX-4.15 5 d81086ex4-15.txt AMENDED/RESTATED CREDIT AGREEMENT 1 EXHIBIT 4.15 [CIBC WORLD MARKETS LETTERHEAD] Holly Corporation 100 Crescent Court Suite 1600 Dallas, Texas 75201 Attention: Henry Teichholz August 2, 2000 AMENDED AND RESTATED CREDIT AGREEMENT Ladies and Gentlemen: Reference is made to the Amended and Restated Credit Agreement dated as of April 14, 2000 among Holly Corporation, certain subsidiaries of Holly Corporation, as borrowers and guarantors, the banks listed therein, CIBC Inc., as Collateral Agent, Fleet National Bank, as Collateral Monitor and Documentation Agent and CIBC World Markets Corp. and Sole Lead Arranger and Bookrunner (as amended, the CREDIT AGREEMENT). Terms used in this letter and defined in the Credit Agreement shall have the same meanings as set forth in the Credit Agreement. The Pricing Schedule annexed to the Credit Agreement provides for a margin with respect to Base Rate Loans. There is an inconsistency in the Credit Agreement as Section 2.6(a) does not provide for any margin for Base Rate Loans. In order to clarify this inconsistency we would propose that at the end of the first sentence of Section 2.6(a) the following be added: "plus the Base Rate Margin". We would also propose that a new definition of Base Rate Margin be added as follows: "BASE RATE MARGIN means a rate per annum determined daily in accordance with the Pricing Schedule." If you are in agreement with the foregoing, please acknowledge your agreement and have each of the Borrowers and Guarantors acknowledge their agreement by signing the enclosed copy of this letter in the space provided and returning it to the undersigned. Please do not hesitate to contact me if you have any questions. Very truly yours, CANADIAN IMPERIAL BANK OF COMMERCE, as Administrative Agent 2 By: /s/ RUSSELL R. OTTS -------------------------- Name: Russell R. Otts Title: Director AGREED AND ACCEPTED: HOLLY CORPORATION By: /s/ HENRY A. TEICHHOLZ ------------------------- Name: Henry A. Teichholz Title: Vice President NAVAJO REFINING COMPANY BLACK EAGLE, INC. NAVAJO CORP. NAVAJO SOUTHERN, INC. NAVAJO NORTHERN, INC. LOREFCO, INC. NAVAJO CRUDE OIL PURCHASING, INC. NAVAJO HOLDINGS, INC. HOLLY PETROLEUM, INC. NAVAJO PIPELINE CO. LEA REFINING COMPANY NAVAJO WESTERN ASPHALT COMPANY By: /s/ HENRY A. TEICHHOLZ ---------------------------- Name: Henry A. Teichholz Title: Vice President MONTANA REFINING COMPANY, A PARTNERSHIP By Navajo Northern, Inc., its General Partner By: /s/ HENRY A. TEICHHOLZ ---------------------------- Name: Henry A. Teichholz Title: Vice President Page 2