Document:

Amendment dated November 8, 2003

 
CONFIDENTIAL
TREATMENT 
EXHIBIT 10.48 
 
PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE SECRETARY OF THE COMMISSION PURSUANT TO REGISTRANT’S APPLICATION OBJECTING
TO DISCLOSURE AND REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24b-2; THE OMITTED PORTIONS HAVE BEEN MARKED WITH BRACKETS. 
 
AMENDMENT 
 
Between: 
 

	1.	 	Lyondell Chemie Nederland, B.V. at Theemsweg 14, Botlek, 3000 HD Rotterdam, The Netherlands (“Seller”); and 

 

	2.	 	Styrochem Finland Oy having its registered office at P.O. Box 360, 06101 Porvoo, Finland (“Buyer”). 

 
Whereas: 
 

	A.	 	ARCO Chemie Nederland, Ltd. (which had its name changed to Lyondell Chemical Nederland, Ltd. [“LCNL”]) and Buyer entered into an agreement for the sale and
purchase of Styrene Monomer T2 (“Product”) on 1 January 1998 (“the Agreement”). 

 

	B.	 	The Agreement was assigned by LCNL to Seller on 31 October 2000. 

 

	C.	 	Seller and Buyer wish to amend the quantity (article 2.1) and duration (article 3) stated in the Agreement. 

 
Agree as follows: 
 

	1.	 	Article 2.1 of the Agreement is hereby amended so that it reads as follows: 

 

	 	“2.1	 	Buyer shall purchase and Seller shall sell the following quantities of Product +/- 5% at Buyer’s option: 

 

	 1998
	  	 [        ] KT

	 1999
	  	 [        ] KT

	 2000
	  	 [        ] KT

	 2001
	  	 [        ] KT

	 2002
	  	 [        ] KT

	 2003
	  	 [        ] KT

	 2004 and beyond
	  	 [        ] KT

 

	2.	 	Article 3 of the Agreement is hereby amended so that it reads as follows: 

 
“This Agreement shall come into force on 1 January 1998 and shall continue for an initial period of
seven years. It shall continue thereafter unless and until terminated by either party giving not less than one calendar year prior written notice to the other party expiring on 31 December 2004 at the earliest.” 
 

	3.	 	All references in the Agreement to Incoterms 1990 are hereby amended to include any amendment thereto. 

 

	4.	 	As provided in Section 8.8 of the Agreement, all references to Deutsch Mark are replaced by references to Euro. 

 

	5.	 	All other terms of the Agreement shall remain the same. 

 
Thus agreed on Nov 8th, 2002. 
 

	 Lyondell Chemie Nederland, B.V.

	
	 By:
	 	   /s/  [signature illegible] Walsh

	
	 Title:
	 	 Director European Business Services

 

	
	 Styrochem Finland Oy

	
	 By:
	 	   /s/  Henrik Akermak

	
	 Title:
	 	 M.D. [Managing Director]<PAGE>

                                                                  Exhibit 10.2

                              FIRST AMENDMENT TO
                                 LOAN AGREEMENT

         This FIRST AMENDMENT TO LOAN AGREEMENT (this "Agreement") is entered
into and effective as of January 24, 2003, by and among Angelica Corporation, a
Missouri corporation ("Borrower"), LaSalle Bank National Association
("LaSalle"), as Administrative Agent ("Administrative Agent"), and LaSalle and
the other lenders listed on the signature page hereto (the "Lenders").

                                    RECITALS:
                                    --------

A.       Borrower, Administrative Agent and Lenders are party to that certain
         Loan Agreement dated as of May 30, 2002 (the "Original Loan
         Agreement").

B.       Administrative Agent, Lenders and Borrower have agreed to the
         provisions set forth herein on the terms and conditions contained
         herein.

                                    AGREEMENT
                                    ---------

         Therefore, in consideration of the mutual agreements herein and other
sufficient consideration, the receipt of which is hereby acknowledged, Borrower,
Administrative Agent and the Lenders hereby agree as follows:

1. DEFINITIONS. All references to the "Agreement" or the "Loan Agreement" in the
Original Loan Agreement and in this Agreement shall be deemed to be references
to the Original Loan Agreement as it may be amended, restated, extended,
renewed, replaced, or otherwise modified from time to time. Capitalized terms
used and not otherwise defined herein have the meanings given them in the
Original Loan Agreement.

2. EFFECTIVENESS OF AGREEMENT. This Agreement shall become effective as of the
date first written above, but only if this Agreement has been executed by
Borrower, Administrative Agent and the Lenders, and only if all of the documents
listed on Exhibit A to this Agreement have been delivered and, as applicable,
executed, sealed, attested, acknowledged, certified, or authenticated, each in
form and substance satisfactory to Administrative Agent and the Lenders.

3. AMENDMENTS. The Original Loan Agreement is hereby amended as follows:

         3.1. LETTER OF CREDIT FACILITY. The first sentence of Section 3.3.1
of the Original Loan Agreement is deleted and replaced with the following:

         "Letter of Credit Issuer commits to issue standby letters of credit and
         commercial (documentary) letters of credit for the account of Borrower
         from time to time from the Effective Date to the Revolving Loan
         Maturity Date, but only if the Letter of Credit Exposure will not as a
         result of such issuance exceed the lesser of (i) Twenty Five Million
         Dollars ($25,000,000) and (ii) an amount equal to the difference
         between (a) the Aggregate Revolving Loan Commitment, and (b) the
         Aggregate Revolving Loan plus the Swingline Loan."

4. REPRESENTATIONS AND WARRANTIES OF BORROWER. Borrower hereby represents and
warrants to Administrative Agent and the Lenders that (i) Borrower's execution,
delivery and performance of this

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<PAGE>

Agreement has been duly authorized by all requisite action of Borrower, (ii)
no consents are necessary from any third parties for Borrower's execution,
delivery or performance of this Agreement, (iii) this Agreement, the Loan
Agreement, and each of the other Loan Documents, constitute the legal, valid
and binding obligations of Borrower enforceable against Borrower in
accordance with their terms, except to the extent that the enforceability
thereof against Borrower may be limited by bankruptcy, insolvency or other
laws affecting the enforceability of creditors rights generally or by equity
principles of general application, (iv) except as disclosed on the
supplemental disclosure schedule attached hereto as Exhibit B and the
disclosure schedule attached to the Original Loan Agreement, all of the
representations and warranties contained in Section 10 of the Loan Agreement
are true and correct with the same force and effect as if made on and as of
the date of this Agreement, (v) after giving effect to this Agreement, there
is no Existing Default, and (vi) since the Effective Date, there has been no
change or modification to the Charter Documents of Borrower or any other
Covered Person.

5. REAFFIRMATION. Borrower hereby represents, warrants, acknowledges and
confirms that (i) the Loan Agreement and the other Loan Documents remain in full
force and effect, (ii) Borrower has no defenses to its obligations under the
Loan Agreement and the other Loan Documents, and (iii) Borrower has no claim
against Administrative Agent or any Lender arising from or in connection with
the Loan Agreement or the other Loan Documents and any such claim is hereby
irrevocably waived and released and discharged forever.

6. GOVERNING LAW. This Agreement has been deemed to be executed and delivered in
Chicago, Illinois, and shall be governed by and construed under the laws of the
State of Illinois without giving effect to choice or conflicts of law principles
thereunder.

7. SECTION TITLES. The section titles in this Agreement are for convenience of
reference only and shall not be construed so as to modify any provisions of this
Agreement.

8. COUNTERPARTS; FACSIMILE TRANSMISSIONS. This Agreement may be executed in one
or more counterparts and on separate counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same
instrument. Signatures to this Agreement may be given by facsimile or other
electronic transmission, and such signatures shall be fully binding on the party
sending the same.

9. INCORPORATION BY REFERENCE. Administrative Agent, Lenders and Borrower hereby
agree that all of the terms of the Loan Documents are incorporated in and made a
part of this Agreement by this reference.

10. FEES AND EXPENSES. Borrower shall promptly pay to Administrative Agent all
fees, expenses and other amounts owing to Administrative Agent under the Loan
Agreement and the other Loan Documents, including, without limitation, all fees,
costs and expenses incurred by Administrative Agent in connection with the
preparation, negotiation, execution, and delivery of this Agreement.

11. NOTICE--ORAL COMMITMENTS NOT ENFORCEABLE. Nothing contained in the following
notice shall be deemed to limit or modify the terms of the Loan Documents:

         ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO
         FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND
         OR RENEW SUCH DEBT ARE NOT ENFORCEABLE. TO PROTECT YOU (BORROWER) AND
         US (CREDITOR) FROM MISUNDERSTANDING

                                     2

<PAGE>

         OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE
         CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE
         STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE
         IN WRITING TO MODIFY IT.

  Borrower acknowledges that there are no other agreements between
  Administrative Agent, Lenders, and Borrower, oral or written, concerning the
  subject matter of the Loan Documents, and that all prior agreements concerning
  the same subject matter, including any proposal or commitment letter, are
  merged into the Loan Documents and thereby extinguished.

12. STATUTORY NOTICE-INSURANCE. The following notice is given pursuant to
Section 10 of the Collateral Protection Act set forth in Chapter 815 Section
180/1 of the Illinois Compiled Statutes (1996); nothing contained in such notice
shall be deemed to limit or modify the terms of the Loan Documents:

         UNLESS YOU PROVIDE EVIDENCE OF THE INSURANCE COVERAGE REQUIRED BY YOUR
         AGREEMENT WITH US, WE MAY PURCHASE INSURANCE AT YOUR EXPENSE TO PROTECT
         OUR INTERESTS IN YOUR COLLATERAL. THIS INSURANCE MAY, BUT NEED NOT,
         PROTECT YOUR INTERESTS. THE COVERAGE THAT WE PURCHASE MAY NOT PAY ANY
         CLAIM THAT YOU MAKE OR ANY CLAIM THAT IS MADE AGAINST YOU IN CONNECTION
         WITH THE COLLATERAL. YOU MAY LATER CANCEL ANY INSURANCE PURCHASED BY
         US, BUT ONLY AFTER PROVIDING EVIDENCE THAT YOU HAVE OBTAINED INSURANCE
         AS REQUIRED BY OUR AGREEMENT. IF WE PURCHASE INSURANCE FOR THE
         COLLATERAL, YOU WILL BE RESPONSIBLE FOR THE COSTS OF THAT INSURANCE,
         INCLUDING THE INSURANCE PREMIUM, INTEREST AND ANY OTHER CHARGES WE MAY
         IMPOSE IN CONNECTION WITH THE PLACEMENT OF THE INSURANCE, UNTIL THE
         EFFECTIVE DATE OF THE CANCELLATION OR EXPIRATION OF THE INSURANCE. THE
         COSTS OF THE INSURANCE MAY BE ADDED TO YOUR TOTAL OUTSTANDING BALANCE
         OR OBLIGATION. THE COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF
         INSURANCE YOU MAY BE ABLE TO OBTAIN ON YOUR OWN.

                {REMAINDER OF PAGE INTENTIONALLY LEFT BLANK;
                     SIGNATURE PAGE IMMEDIATELY FOLLOWS}

                                     3

<PAGE>
<PAGE>

            IN WITNESS WHEREOF, this Agreement has been duly executed as of the
date first above written.

ANGELICA CORPORATION, A MISSOURI CORPORATION, AS BORROWER

By:      /s/ T. M. Armstrong
         --------------------------------------------------------
Name:    Theodore M. Armstrong
         --------------------------------------------------------
Title:   Senior Vice President - Finance and Administration & CFO
         --------------------------------------------------------

LASALLE BANK NATIONAL ASSOCIATION,
AS ADMINISTRATIVE AGENT AND A LENDER

By:      /s/ Margaret C. Dierkes
         --------------------------------------------------------
Name:    Margaret C. Dierkes
         --------------------------------------------------------
Title:   Assistant Vice President
         --------------------------------------------------------

UMB BANK, NATIONAL ASSOCIATION, A LENDER

By:      /s/ Robert D. Vieth
         --------------------------------------------------------
Name:    Robert D. Vieth
         --------------------------------------------------------
Title:   Executive Vice President
         --------------------------------------------------------

WELLS FARGO BANK, N.A., A LENDER

By:      /s/ Eric Gudmestad
         --------------------------------------------------------
Name:    Eric Gudmestad
         --------------------------------------------------------
Title:   Vice President
         --------------------------------------------------------

                                     4

<PAGE>
<PAGE>

                                    EXHIBIT A
                                    ---------

                           DOCUMENTS AND REQUIREMENTS
                           --------------------------

1. First Amendment to Loan Agreement.

                                     5

<PAGE>
<PAGE>

                                    EXHIBIT B
                                    ---------

                              DISCLOSURE SCHEDULE
                              -------------------

                            None, if nothing listed.

                                     6

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