Document:

exh4-6_receipts.htm

 

 

 

 

 

 

 

EXHIBIT 4.6

 

RECEIPTS DATED AUGUST 5, 2010 PROVIDING

EXTENSION OF TIME FOR FULFILLING WORK COMMITMENTS

 

  

  

  

RECEIPT

 

TO:                      MILL CITY GOLD CORP. (the “Company”)

 

	
RE:

	
Letter agreement dated September 2, 2008 (the “Agreement”) among the Company, Temex Resources Corp. and Rainy Mountain Royalty Corp. (formerly East West Resource Corporation) in connection with an option and joint venture agreement relating to the GP2 Property

 

AND RE:             Extension of time for fulfilling work commitments

 

Capitalized terms not defined herein shall have the same terms as ascribed to them in the Agreement.

In connection with the terms of the Agreement, the undersigned hereby acknowledges and confirms:

	
  

	
1.

	
receipt from Mill City of notice of its intention to extend by one year the time for completion of its obligations set forth in paragraph 4 (the “Extension”), which Extension will also operate to:

	
  

	
a.

	
defer the subsequently accruing commitment date set forth in paragraph 5 by one year; and

b.           extend the Earn-in Period by one year;

	
  

	
2.

	
receipt from Mill City of 125,000 common shares in the capital of Mill City in consideration for the Extension; and

3.           that, for greater certainty:

	
  

	
a.

	
the obligations set forth in paragraphs 4 and 5 of the Agreement have been and are deemed to be extended by one year; and

	
  

	
b.

	
the expiration of the Earn-in Period has been extended or deemed to be extended by one year.

DATED this 5th day August, 2010.

RAINY MOUNTAIN ROYALTY CORP.

Per:

/s/                                                       

              Authorized Signatory

  

  

  

RECEIPT

 

TO:                      MILL CITY GOLD CORP. (the “Company”)

 

	
RE:

	
Letter agreement dated September 2, 2008 (the “Agreement”) among the Company, Temex Resources Corp. and Rainy Mountain Royalty Corp. (formerly East West Resource Corporation) in connection with an option and joint venture agreement relating to the GP2 Property

 

AND RE:             Extension of time for fulfilling work commitments

 

Capitalized terms not defined herein shall have the same terms as ascribed to them in the Agreement.

In connection with the terms of the Agreement, the undersigned hereby acknowledges and confirms:

	
  

	
1.

	
receipt from Mill City of notice of its intention to extend by one year the time for completion of its obligations set forth in paragraph 4 (the “Extension”), which Extension will also operate to:

	
  

	
a.

	
defer the subsequently accruing commitment date set forth in paragraph 5 by one year; and

b.           extend the Earn-in Period by one year;

	
  

	
2.

	
receipt from Mill City of 125,000 common shares in the capital of Mill City in consideration for the Extension; and

3.           that, for greater certainty:

	
  

	
a.

	
the obligations set forth in paragraphs 4 and 5 of the Agreement have been and are deemed to be extended by one year; and

	
  

	
b.

	
the expiration of the Earn-in Period has been extended or deemed to be extended by one year.

DATED this 5th day August, 2010.

TEMEX RESOURCES CORP.

Per:

                /s/                                                          

Authorized Signatoryexh4-7_amdagmt.htm

 

 

 

 

 

 

 

 

EXHIBIT 4.7

 

FIRST AMENDMENT TO OPTION AND JOINT VENTURE - TARGET 12

(ROSEBUD) PROPERTY DATED NOVEMBER 8, 2010 WITH THE 

YUKON CORNELIUS SYNDICATE

 

  

  

  

FIRST AMENDMENT TO

OPTION AND JOINT VENTURE

TARGET 12 (ROSEBUD) PROPERTY

This First Amendment to Option and Joint Venture Agreement (this “Amendment”) is made and entered into as of December 1, 2010, by and between the Yukon Cornelius Syndicate (the “Syndicate” or the “Optionor”) and Mill City Gold Corp. (“Mill City” or the “Optionee”).  The Syndicate and Mill City may also be referred to herein collectively as the “Parties.”

RECITALS

	
A.

	
The Parties entered into an Option and Joint Venture Agreement dated as of November 8, 2010 (the “Agreement”).

B.           The Parties wish to amend the Agreement as set forth in this Amendment.

AGREEMENT

Now, therefore, in consideration of these premises and the mutual and dependent promises hereinafter set forth, the parties hereto agree as follows:

1.           Amendment

Subsection 4.02(a) is hereby amended by deleting the final paragraph in subsection 4.02(a) in its entirety and inserting the following text:

“provided that, subject to the prior approval of the TSXV in each case, the Optionee shall have the option of making one or more of the payments referred to in (ii), (iii), (iv), (v) and (vi) above by issuing Shares on the relevant anniversary or anniversaries of Effective Date, in each case at a price per Share equal to the higher of (A) the average of the closing prices of the Shares on the TSXV over the 20 trading days immediately preceding the relevant anniversary of the Effective Date, less the maximum discount from such average permitted by the policies of the TSXV and (B) $0.125;”

 

2.           Miscellaneous

	
(a)

	
Effect of Amendment.  The provisions of this Amendment are hereby incorporated into and made part of the Agreement.  Except as amended by this Amendment, all of the provisions of the Agreement shall continue in full force and effect.

	
(b)

	
Definitions.  Unless otherwise defined in this Amendment, capitalized terms have the meanings given in the Agreement.

	
(c)

	
Entire Agreement.  The Agreement (including the documents and the instruments referred to therein) and this Amendment constitute the entire agreement among the parties and supersede all prior agreements, understandings and representations by or among the parties, written and oral, with respect to the subject matter hereof and thereof.

 

 

  

  

  

 

	
(d)

	
Counterparts.  This Amendment may be executed in counterparts, which shall constitute one and the same instrument.  The parties may execute more than one copy of this Amendment, each of which shall constitute an original.

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Option and Joint Venture Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

	 	THE YUKON CORNELIUS SYNDICATE	 
	 	 	 	 
	
 

	 /s/ William Chornobay	 
	 	 William Chornobay	 
	 	 Manager for The Yukon Cornelius Syndicate	 
	 	 	 	 

 

	 	MILL CITY GOLD CORP.	 
	 	 	 	 
	
 

	 /s/ James R. Brown	 
	 	 James R. Brown	 
	 	 President & CEOExhibit 4.3.4

Exhibit 4.3.4

THIRD AMENDMENT

THIS THIRD AMENDMENT, dated as of December 14, 2010 (this “Amendment”), is to the
Third Amended and Restated Credit Agreement (as heretofore amended, the “Credit Agreement”)
dated as of October 30, 2008 among PENSKE AUTOMOTIVE GROUP, INC. (the “Company”), various
financial institutions (the “Lenders”) and MERCEDES-BENZ FINANCIAL SERVICES USA LLC
(formerly DCFS USA LLC), as agent for the Lenders (the “Agent”). Unless otherwise defined
herein, terms defined in the Credit Agreement are used herein as defined in the Credit Agreement.

WHEREAS, the parties hereto desire to amend the Credit Agreement in certain respects;

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration
(the receipt and sufficiency of which are hereby acknowledged), the parties hereto agree as
follows:

SECTION 1 AMENDMENT. Effective on the Amendment Effective Date (defined below), the
definition of “Floor Plan Financing” in Section 1.1 of the Credit Agreement shall be amended and
restated to read in its entirety as follows:

Floor Plan Financing means a financing undertaken by the Company or any Subsidiary
(a) all of the proceeds of which are (i) used to purchase Motor Vehicles to be sold in the
ordinary course of business by the Company and its Subsidiaries, (ii) relating to funds
expended by the Company or such Subsidiary initially to acquire such Motor Vehicles or (iii)
used to refinance any financing within the scope of clause (a)(i) or (ii)
above or (b) pursuant to a borrowing base line of credit secured by Used Motor Vehicles
owned by the Company and its Subsidiaries.

SECTION 2 REPRESENTATIONS AND WARRANTIES. The Company represents and warrants to the
Agent and the Lenders that: (a) the representations and warranties made in Section 8 of
the Credit Agreement are true and correct on and as of the date hereof with the same effect as if
made on and as of the date hereof (except to the extent relating solely to an earlier date, in
which case they were true and correct as of such earlier date); (b) no Event of Default or
Unmatured Event of Default exists or will result from the execution of this Amendment; (c) no event
or circumstance has occurred since the Effective Date that has resulted, or would reasonably be
expected to result, in a Material Adverse Effect; (d) the execution and delivery by the Company of
this Amendment and the performance by the Company of its obligations under the Credit Agreement as
amended hereby (as so amended, the “Amended Credit Agreement”) (i) are within the corporate
powers of the Company, (ii) have been duly authorized by all necessary corporate action, (iii) have
received all necessary approval from any governmental authority and (iv) do not and will not
contravene or conflict with any provision of any law, rule or regulation or any order, decree,
judgment or award which is binding on the Company or any of its Subsidiaries or of any provision of
the certificate of incorporation or bylaws or other organizational documents of the Company or of
any agreement, indenture, instrument or other document which is binding on the Company or any of
its Subsidiaries; and (e) the Amended Credit Agreement is the legal, valid and binding obligation
of the Company, enforceable against the Company in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws
affecting the enforcement of creditors’ rights generally or by equitable principles relating to
enforceability.

 

 

 

SECTION 3 CONDITIONS TO EFFECTIVENESS. The amendment set forth in Section 1
above shall become effective as of the date (the “Amendment Effective Date”) when the
following conditions precedent have been satisfied, each in form and substance satisfactory to the
Agent:

3.1 Amendment. The Agent shall have received a counterpart of this Amendment executed
by the Company and the Required Lenders (or, in the case of any party other than the Company from
which the Agent has not received a counterpart hereof, facsimile confirmation of the execution of a
counterpart hereof by such party).

3.2 Reaffirmation. The Agent shall have received a counterpart of the Reaffirmation
of Loan Documents, in form and substance satisfactory to the Agent, executed by each Loan Party
other than the Company.

3.3 Other Documents. Such other documents as the Agent or any Lender may reasonably
request.

SECTION 4 MISCELLANEOUS.

4.1 Continuing Effectiveness, etc. As hereby amended, the Credit Agreement shall
remain in full force and effect and is hereby ratified and confirmed in all respects. All
references in the Credit Agreement, the Notes, each other Loan Document and any similar document to
the “Credit Agreement” or similar terms shall refer to the Amended Credit Agreement.

4.2 Counterparts. This Amendment may be executed in any number of counterparts and by
the different parties on separate counterparts, and each such counterpart shall be deemed to be an
original but all such counterparts shall together constitute one and the same Amendment.

4.3 Expenses. The Company agrees to pay the reasonable costs and expenses of the
Agent (including reasonable fees and disbursements of counsel, including, without duplication, the
allocable costs of internal legal services and all disbursements of internal legal counsel) in
connection with the preparation, execution and delivery of this Amendment.

4.4 Severability of Provisions. In the event that any provision in or obligation
under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provision or
obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

4.5 Section Headings. The various headings of this Amendment are inserted for
convenience only and shall not affect the meaning or interpretation of this Amendment or the
Agreement or any provision hereof or thereof.

 

2

 

4.6 Governing Law. This Amendment shall be a contract made under and governed by the
laws of the State of New York applicable to contracts made and to be wholly performed within the
State of New York.

4.7 Successors and Assigns. This Amendment shall be binding upon the Company, the
Lenders and the Agent and their respective successors and assigns, and shall inure to the benefit
of the Company, the Lenders and the Agent and the successors and assigns of the Lenders and the
Agent.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

3

 

Delivered as of the day and year first above written.

	 	 	 	 	 
	 	PENSKE AUTOMOTIVE GROUP, INC.

 	 
	 	By:  	/s/ Robert O’Shaughnessy
 	 
	 	 	Title:  EVP & CFO 	 
	 	 	 	 
	 	MERCEDES-BENZ FINANCIAL SERVICES USA LLC,

as Agent, as Issuing Lender and as a Lender

 	 
	 	By:  	/s/ Michele Nowak
 	 
	 	 	Title: Credit Director National Accounts 	 
	 	 	 	 
	 	TOYOTA MOTOR CREDIT CORPORATION,

as a Lender

 	 
	 	By:  	/s/ Anna Lee
 	 
	 	 	Title:  National Dealer Credit Manager

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