Document:

FORM OF NYSE "WARNING LETTER"

 
Exhibit 4.5 
 
FORM OF
NYSE WARNING LETTER 
 
BANCO LATINOAMERICANO
DE EXPORTACIONES, S.A. 
Calle 50 y Aquilino de la Guardia 
Apartado 6-1497 
El Dorado, Panama City

Republic of Panama 
 
Dear Shareholder: 
 
The Board of Directors of Banco Latinoamericano de Exportaciones, S.A. (the “Bank”) announced on December 17, 2002 its intention
to issue non-transferable rights to the holders of shares of the Bank’s Class A, Class B and Class E common stock entitling those holders to subscribe for additional shares of common stock to be offered by the Bank in a rights offering. As a
holder of one of these three classes of shares, you will receive rights to purchase shares of that class only. The rights offering to subscribe for new shares of the Bank will be made upon effectiveness of the Bank’s Registration Statement
filed with the U.S. Securities and Exchange Commission and only by means of a prospectus. We are sending you this letter ten days prior to the record date for the issuance of the rights, June 2, 2003, in accordance with New York Stock Exchange
rules. The known terms of the offer were previously disseminated via a press release. 
 
Terms of the Offer 
 
1.    Primary Subscription.    The Bank proposes to issue to shareholders 1.26 non-transferable rights for each whole share of common stock held on the record date. The rights entitle
each shareholder to acquire at the subscription price one share of the class to which the rights relate for each whole right received. 
 
2.    Over-Subscription Privilege.    The over-subscription privilege permits a shareholder
of record on the record date who has exercised in full his/her rights pursuant to the primary subscription to subscribe for additional shares to the extent that shares offered to other shareholders are not purchased by them in the primary
subscription, subject to pro rata allocation. 
 
Subscription Price 
 
The
subscription price per share, which will be determined two trading days prior to the date of the expiration of the offer, will be the lowest of the three averages of the last reported sales price of a Class E share on the New York Stock Exchange for
three periods consisting of 90, 30 and 10 trading days, respectively, each ending on the date which is two trading days prior to the expiration date of the offer. 
 
Timetable 
 
The record date for determining shareholders’ eligibility to participate in the rights offering is June 2, 2003. The subscription
period will continue for 18 calendar days beginning on June 3, 2003 and expiring on June 20, 2003. It is expected that subscription certificates evidencing the right to subscribe together with a prospectus will be mailed to shareholders of record as
of the record date promptly following such date. 

 
Note 
 
The commencement of the offer will be announced through a
prospectus as well as the public media. Shareholders should be sensitive to these subsequent announcements. 
 
We thank you for your continued support of the Bank. 
 
José Castañeda 
Chief Executive Officer 
 
This letter shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these shares in
any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. 
 
If you have any questions regarding the rights offering, please contact the Information Agent for the offering, MacKenzie Partners, Inc.,
at (800) 322-2885 or call collect at (212) 929-5500.FORM OF REAFFIRMATION FORM

 
Exhibit 4.6 
 
FORM OF
REAFFIRMATION FORM* 
 
Banco Latinoamericano
de Exportaciones, S.A. Rights Offering 
 
As
set forth in Banco Latinoamericano de Exportaciones, S.A.’s (the “Company’s”) prospectus dated May 22, 2003 (the “Prospectus”) under “The Offer—Payment for Shares,” this form or one substantially
equivalent hereto may be used as a means of effecting the reaffirmation of a subscription for all shares of the Company’s common stock subscribed for by exercise of Rights pursuant to the Primary Subscription and the Over-Subscription
Privilege. If the Subscription Price is outside the subscription price range of $4.63 to $7.63 and you have subscribed for shares of the Company’s common stock prior to 5:00 p.m., New York City time, on the Pricing Date of June 18,
2003, the Company will not accept your subscription unless you have reaffirmed prior to 5:00 p.m., New York City time, on June 20, 2003 your original or modified subscription to the Subscription Agent after you have been advised of the Subscription
Price. Such form may be delivered by hand or sent by facsimile transmission, overnight courier or mail to The Bank of New York, the Subscription Agent, and must be received prior to 5:00 p.m., New York City time, on June 20, 2003 (the
“Expiration Date”). The terms and conditions of the Offer set forth in the Prospectus are incorporated by reference herein. Capitalized terms not defined herein have the meanings attributed to them in the Prospectus. 
 
The Subscription Agent is:  
 
THE BANK OF NEW YORK 

	 By Mail:
	  	 By Overnight Courier
 or By Hand:

	
	 The Bank of New York
 Reorganization Services
 P.O. Box
11248
 Church Street Station
 New York, NY 10286-1248
	  	 The Bank of New York
 Reorganization Services
 101 Barclay
Street
 Receive and Deliver Window, Street Level
 New York, NY 10286

 
 
By Facsimile Transmission: 
(212)
815-6433 
 
 
To Confirm Facsimile Transmission Only: 
(212) 815-6212

 
 
DELIVERY OF THIS INSTRUMENT TO AN ADDRESS, OR TRANSMISSION 
VIA A TELECOPY OR
FACSIMILE NUMBER, OTHER THAN AS SET FORTH ABOVE, 
DOES NOT CONSTITUTE A VALID DELIVERY 
 

	*	 	THIS FORM SHOULD BE USED ONLY IF THE SUBSCRIPTION PRICE IS OUTSIDE OF THE SUBSCRIPTION PRICE RANGE OF $4.63 TO $7.63 AND YOU HAVE EXERCISED YOUR RIGHTS
PRIOR TO 5:00 P.M., NEW YORK CITY TIME, ON THE PRICING DATE OF JUNE 18, 2003.  

 

 
PLEASE FILL IN ALL APPLICABLE
INFORMATION: 
 
I hereby irrevocably reaffirm my previous
subscription (which was originally submitted to the Subscription Agent prior to 5:00 p.m. on June 18, 2003) for the number of Shares indicated therein. 
 
 
Name of Subscriber(s)/Registered
Owner(s):                                      
                         
 
 
Signature of
Subscriber(s):                                     
                          
 
 
(Joint owners should each sign. If signing as an executor, administrator,
attorney, trustee, or guardian, give title as such. If a corporation, sign in the full corporate name by an authorized officer. If a partnership, sign in the name of authorized person.) 
 
 
Fax
No.:                                       
                        
 
 
E-mail
Address:Second Amendment to Credit Agreement

 
EXHIBIT
10.15 
SECOND AMENDMENT TO CREDIT AGREEMENT 
 
SECOND AMENDMENT TO CREDIT AGREEMENT dated as of February 24, 2003, by and among NU HORIZONS ELECTRONICS
CORP., a Delaware corporation having its executive offices at 70 Maxess Road, Melville, New York (the “Borrower”), each of the lenders that is a signatory thereto identified under the caption “Lenders” on the signature
pages to the Credit Agreement (as defined below) (individually, a “Lender”, and collectively, the “Lenders”), and MELLON BANK, N.A., a national banking association, having offices at 701 Market Street, Philadelphia, Pennsylvania
19103, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”). 
 
RECITALS 
 
The Borrower, the Lenders and the Administrative Agent entered into a Credit Agreement dated as of October 18, 2000 as amended by a First Amendment dated as of October 30, 2002 (collectively, the
“Credit Agreement”), pursuant to which certain financial accommodations were made available to the Borrower. 
 
The Borrower has requested that the Lenders and the Administrative Agent modify a financial covenant set forth in the Credit Agreement and
the Lenders and the Administrative Agent are willing to comply with such request but only upon and subject to the following terms and conditions. 
 
NOW, THEREFORE, in consideration of the premises and mutual covenants and promises exchanged herein, the parties hereto mutually agree as
follows: 
 
Section 1.
Definitions. Except as otherwise defined in this Second Amendment, terms defined in the Credit Agreement are used herein as defined therein. 
 
Section 2. Amendments. Subject to the satisfaction of the conditions precedent specified in Section 3 below, the
Credit Agreement shall be amended as follows: 
 
1. Section 6.2 of the Credit Agreement is hereby deleted and the following is substituted therefor: 
 
“6.2 Tangible Net Worth. Maintain Tangible Net Worth plus Subordinated Debt at all times during the periods
indicated of at least: 
 

	 	•	 	$122,000,000 from 2/24/03 to 5/31/03 

	 	•	 	6/1/03 to 2/27/04—$125,000,000 plus 75% of fiscal year 2003 net income (“‘03 Base”) 

	 	•	 	2/28/04 and thereafter—‘03 Base plus 75% of fiscal year 2004 net income. 

 
In addition, 75% of the net
proceeds received by the Borrower or its Subsidiaries in any fiscal year from any equity offering will be added to the applicable base Tangible Net Worth amount required as set forth above for the next succeeding fiscal year and in each fiscal year
thereafter. Net losses, if any, will not be deducted from the applicable base.” 
 
Section 3. Conditions Precedent. The amendment to the Credit Agreement set forth in Section 2 hereof shall become
effective, as of the date hereof, upon the execution and delivery of this Second Amendment by the Borrower, the Administrative Agent and each of the Lenders and the satisfaction of the following conditions: 
 
(A) Costs and Expenses. The
Administrative Agent shall have received evidence of payment of the Administrative Agent’s reasonable attorneys’ fees and disbursements associated with the preparation of this Second Amendment and any documents executed in connection
herewith. 
 
(B) Reaffirmation
of Guarantee. The Administrative Agent shall have received a reaffirmation and acknowledgment of the Guarantee duly executed by each of the Guarantors. 
 
(C) Reaffirmation of Security Agreements. The Administrative Agent shall have received a reaffirmation and
acknowledgment of the Security Agreements duly executed by the Borrower and each of its Domestic Subsidiaries together with Form UCC-1 financing statement in favor of the Administrative Agent for the benefit of the Lenders (if required), Uniform
Commercial Code searches and security agreement questionnaires. 
 
(D) Certified Copies and Other Documents. The Administrative Agent shall have received the following with respect to the Borrower and, unless otherwise indicated below, the Guarantors:

 
(i) for the Borrower and each
Domestic Subsidiary, certificates of good standing from the Secretary of State of New York if incorporated under the laws of the State of New York or doing business in New York and, if incorporated in a jurisdiction other than New York, from the
Secretary of State or other applicable Governmental Authority of such jurisdiction of incorporation and from the Secretary of State or other applicable Governmental Authority of each jurisdiction in which an office is maintained, except any
jurisdiction where the failure to be qualified would not have a Material Adverse Effect; 
 

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(ii) certificates of an officer of the Borrower dated the date of this Second Amendment certifying (x) no changes in the certificate of incorporation or by-laws from the date of the Credit Agreement or attaching copies of any
amendments, (y) true and correct copies of resolutions adopted by the board of directors of the Borrower (1) authorizing the borrowings and the other extensions of credit from the Lenders under the Credit Agreement as amended hereby, the execution,
delivery and performance by the Borrower of this Second Amendment and the Reaffirmation and Acknowledgment of Security Agreements and any related documents including the grant of the security interest provided for therein, (2) approving forms in
substantially execution form of this Second Amendment and the Security Agreement, and (3) authorizing officers of the Borrower to execute and deliver this Second Amendment and the Security Agreement and any related documents, and (z) the incumbency
and specimen signatures of the officers of the Borrower executing any documents delivered to the Administrative Agent or a Lender by the Borrower in connection herewith; and 
 
(iii) certificates of an officer of each Guarantor dated the date of this Second Amendment
certifying, (w) no changes in the certificate of incorporation or by-laws from the date of the Credit Agreement or First Amendment, as the case may be, or attaching copies of any amendments, (x) true and correct copies of resolutions adopted by the
board of directors of each Guarantor (1) authorizing the execution, delivery and performance by any Guarantor that is a party to the Security Agreements of the Reaffirmation and Acknowledgment of Security Agreements and any related documents
including the grant of the security interest provided for therein, (2) authorizing the execution, delivery and performance by such Guarantor of the Reaffirmation and Acknowledgment of Guarantee, and (3) authorizing officers of such Guarantor to
execute and deliver the reaffirmations and any related documents, (y) the incumbency and specimen signatures of the officers of such Guarantor executing any documents delivered to the Administrative Agent or a Lender by such Guarantor in connection
herewith, and (z) true and correct copies of resolutions adopted by the shareholders of such Guarantor authorizing the execution and delivery of the reaffirmations. 
 
(E) Legal Opinion. The Administrative Agent and each Lender shall have received a
favorable opinion of counsel to the Borrower and the Guarantors satisfactory in form and substance to the Administrative Agent and the Lenders and covering such matters incident to the transactions contemplated by this Second Amendment as the
Administrative Agent shall reasonably require. 
 
(F) Approval of the Administrative Agent’s Counsel. All other documents and legal matters in connection with the transactions contemplated by this Second Amendment shall be satisfactory in form and substance to the
Administrative Agent and its counsel. 
 
Section 4. Representations and Warranties. The Borrower represents and warrants to the Banks that the representations and warranties set forth in the Credit Agreement and in the other Loan Documents are true and complete on
the date hereof and as if made on and as of the date hereof (or, if such representation warranty is expressly stated to have been made as of a specific date, as of such specific date) and that no Default or Event of Default has occurred and is
continuing. 
 

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Section 5. Governing Law; Execution in Counterparts. Except as herein provided, the Credit Agreement shall remain unchanged and in full force and effect. This Second Amendment may be executed in any number of counterparts, all
of which taken together shall constitute one and the same amendatory instrument and any of the parties hereto may execute this Second Amendment by signing any such counterpart. This Second Amendment shall be governed by, and construed in accordance
with, the internal laws of the State of New York (without regard to New York conflicts of laws principles). 
 
Section 6. Expenses, etc. The Borrower agrees to pay or reimburse the Administrative Agent for all reasonable
out-of-pocket costs and expenses of the Administrative Agent (including, without limitation, the reasonable fees and expenses of Goetz & Mady-Grove, LLP) in connection with the negotiation, preparation, execution and delivery of this Second
Amendment and the transactions contemplated hereby. 
 
Section 7. Effective Date. This Second Amendment is dated for convenience as of February 24, 2003 and shall be effective as of such date, on the delivery of an executed counterpart to the Borrower upon satisfaction of
the conditions precedent contained in Section 3 hereof. 
 
IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to Credit Agreement to be duly executed and delivered by their duly authorized officers, all as of the day and year first above written. 
 

	     Borrower:

	
	 NU HORIZONS ELECTRONICS CORP.

	
	     By:
	 	 /s/ Paul Durando

	 	 	 Paul Durando

	 	 	 Vice President/Finance

	
	 	 	 Administrative Agent:

	
	 	 	 MELLON BANK, N.A., as
 Administrative Agent

	
	     By:
	 	 /s/ Marla a De Yulis

	 	 	 Marla A. DeYulis
 Officer

 

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	 Notice Addresses:
	 	 	 	 Lenders:

	
	 MELLON BANK, N.A.
 3 Mellon Bank Center, 12th Floor,
 153-1203, Pittsburgh, PA 15259
 Attn: Ms. Maryanne Klaeser
	 	 
	 Vice President
 w/a copy to 1 Mellon Bank Center
 Room 151-4425
 Pittsburgh, PA 15258
 Attn: Ms. Marla A. DeYulis

          Officer
	 	 MELLON BANK, N.A.

	 	 	 	 
	 	 By:
	 	 /s/ Marla A De Yulis

	 	 	 	 Marla A. DeYulis

	 	 	 	 Officer

	 	 	 	 
	
	 CITIBANK, N.A.
 730 Veterans Memorial Highway
 Hauppauge, NY 11788
 Attn: Mr. Stuart Berman
           Vice President
	 	 CITIBANK, N.A.

	 	 	 	 
	 	 By:
	 	 /s/ Stuart Berman

	 	 	 	 Stuart Berman

	 	 	 	 Vice President

	
	 HSBC BANK USA
 534 Broad Hollow Road
 Melville, NY 11747
 Attn: Mr. Thomas Dionian
           Vice President
	 	 HSBC BANK USA

	 	 	 	 
	 	 By:
	 	 /s/ Thomas Dionian

	 	 	 	 Thomas Dionian
 Vice President

	
	 FLEET NATIONAL BANK
 300 Broad Hollow Road
 Melville, NY 11747
 Attn: Mr. Christopher
Mendelsohn
           Senior Vice
President
	 	 FLEET NATIONAL BANK

	 	 	 	 
	 	 By:
	 	 /s/ Christopher Mendelsohn

	 	 	 	 Christopher Mendelsohn

	 	 	 	 Senior Vice President

	
	 JP MORGAN CHASE BANK
 395 North Service Road
 Melville, NY 11747
 Attn: Mr. William DeMilt, Jr.

          Vice President
	 	 JP MORGAN CHASE BANK

	 	 	 	 
	 	 By:
	 	 /s/ William De Milt Jr.

	 	 	 	 William DeMilt, Jr.

	 	 	 	 Vice President

	
	 THE BANK OF NEW YORK
 1401 Franklin Avenue
 Garden City, NY 11530
 Attn: Mr. James D. Riley,
Jr.
           Vice President
	 	 THE BANK OF NEW YORK

	 	 	 	 
	 	 By:
	 	 /s/ James D. Riley Jr.

	 	 	 	 James D. Riley, Jr.

	 	 	 	 Vice President

 

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State of New York, County
of Nassau, ss: 
 
On the
             day of February, in the year 2003, before me the undersigned, personally appeared PAUL DURANDO, personally known to me or proved to me on the basis of satisfactory
evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of which the
individual acted, executed the instrument. 
 
Notary Public 
 
State of                     , County of
                    , ss: 
 
On the              day of February, in the year 2003, before me the
undersigned, personally appeared MARLA A. DEYULIS, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same
in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of which the individual acted, executed the instrument. 
 
Notary Public 
 
State of
                    , County of
                    , ss: 
 
On the              day of February, in the year 2003, before me the
undersigned, personally appeared MARLA A. DEYULIS, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same
in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of which the individual acted, executed the instrument. 
 
Notary Public 
 
State of New York, County of Suffolk, ss: 
 
On the              day of February, in
the year 2003, before me the undersigned, personally appeared STUART BERMAN, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me
that he executed the same in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of which the individual acted, executed the instrument. 
 
Notary Public 
 

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State of New York, County
of Suffolk, ss: 
 
On the
             day of February, in the year 2003, before me the undersigned, personally appeared THOMAS DIONIAN, personally known to me or proved to me on the basis of satisfactory
evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of which the
individual acted, executed the instrument. 
 
Notary Public 
 
State of New York, County of
Suffolk, ss: 
 
On the
             day of February, in the year 2003, before me the undersigned, personally appeared CHRISTOPHER MENDELSOHN, personally known to me or proved to me on the basis of
satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of
which the individual acted, executed the instrument. 
 
Notary Public 
 
State of New York,
County of Suffolk, ss: 
 
On the
             day of February, in the year 2003, before me the undersigned, personally appeared WILLIAM DEMILT, JR., personally known to me or proved to me on the basis of
satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of
which the individual acted, executed the instrument. 
 
Notary Public 
 
State of New York,
County of Nassau, ss: 
 
On the
             day of February, in the year 2003, before me the undersigned, personally appeared JAMES D. RILEY, JR., personally known to me or proved to me on the basis of
satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual or the person upon behalf of
which the individual acted, executed the instrument. 
 
Notary Public 
 

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