Document:

Prepared by MERRILL CORPORATION www.edgaradvantage.com

   EXHIBIT 10.16  

    EXECUTION COPY 

    CONSENT
AND WAIVER No. 3 dated as of June 1, 2000 (this "Consent and Waiver"), to the Credit Agreement dated as of
June 30, 1998, as amended by Amendment No. 1, Waiver and Agreement dated as of January 29, 1999 and Amendment and Waiver No. 2, dated as of December 13, 1999 (the
"Credit Agreement"), among AMERICAN COMMERCIAL LINES LLC, a Delaware limited liability company (the
"Borrower"), AMERICAN COMMERCIAL LINES HOLDINGS LLC, a Delaware limited liability company ("Holdings"),
the LENDERS (as defined in the Credit Agreement), and THE CHASE MANHATTAN BANK, a New York banking corporation ("Chase"), as issuing bank (in such
capacity, the "Issuing Bank"), as administrative agent (in such capacity, the "Administrative Agent"),
as security trustee (in such capacity, the "Security Trustee") and as collateral agent (in such capacity, the "Collateral
Agent") for the Lenders. 

    A.  Pursuant
to the Credit Agreement, the Lenders and the Issuing Bank have extended credit to the Borrower, and have agreed to extend credit to the Borrower, in each
case pursuant to the terms and subject to the conditions set forth therein. 

    B.  The
Borrower has informed the Administrative Agent that it intends to sell all of the Capital Stock of Waterway Communications System LLC
("Watercom"), to Mobex Holdings, Inc., an Idaho corporation ("Mobex"), for an aggregate purchase
price of approximately $16,000,000, such consideration consisting of approximately $13,600,000 in cash and the balance in convertible preferred stock of Mobex Communications, Inc. (the
"Mobex Preferred Stock") (the "Watercom Sale"). 

    C.  The
Borrower has requested that the Required Lenders consent to the Watercom Sale and agree to a limited waiver of the Credit Agreement in connection therewith. The
Required Lenders are willing to grant such consent and such limited waiver pursuant to the terms and subject to the conditions set forth herein. 

    D.  Each
capitalized term used and not otherwise defined herein shall have the meaning assigned to such term in the Credit Agreement. 

    Accordingly,
in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the
parties hereto agree as follows: 

    SECTION
1.  Consent and Waiver.  

    The
Required Lenders hereby consent to the Watercom Sale and hereby waive compliance by the Borrower with the provisions of Section 6.05(a) of the Credit Agreement to the
extent (but only to the extent) necessary to permit such sale. 

    SECTION
2.  Agreements.  

    (a) The
Borrower agrees that, substantially simultaneously with (and in any event not later than the third Business Day following) the receipt of the Net Cash Proceeds
from the Watercom Sale, it will apply such Net Cash Proceeds to prepay outstanding Term Loans pursuant to Sections 2.13(b) and (g) of the Credit Agreement. 

    (b) The
Borrower agrees that, substantially simultaneously with (and in any event not later than the third Business Day following) the receipt of the Mobex Preferred
Stock, it will pledge such stock to the Collateral Agent for the ratable benefit of the Secured Parties pursuant to the Pledge Agreement. 

1

 

    SECTION 3.  Acknowledgment; Lien Release.  

    The
Lenders acknowledge that the Lien(1) in favor of the Collateral Agent on the Capital Stock(2) of Watercom and on any and all of the assets of Watercom, and the guaranty by
Watercom pursuant to the Subsidiary Guarantee Agreement, shall automatically be released simultaneously with the consummation of the Watercom Sale, all as provided in the Security Agreement, the
Pledge Agreement
and the Subsidiary Guarantee Agreement. The Collateral Agent shall, and is hereby authorized by the Required Lenders to, execute and deliver all additional documents and instruments reasonably
requested by the Borrower to give further effect to such release. 

	(1)
	"Lien"
is defined in the Credit Agreement as Awith respect to any asset, (a) any mortgage, deed of trust, lien, pledge, encumbrance, charge or security interest in or on such
asset..." 
	(2)
	"Capital
Stock" as defined in the Credit Agreement includes membership interests in a limited liability company. 

    SECTION
4.  Representations and Warranties.  

    The
Borrower and Holdings each represents and warrants to the Administrative Agent and the Lenders that: 

    (a) This
Consent and Waiver has been duly executed and delivered by it and constitutes its legal, valid and binding obligation enforceable against it in accordance with
its terms, except as enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors' rights generally and except as enforceability may be
limited by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

    (b) Before
and after giving effect to this Consent and Waiver, the representations and warranties set forth in Article III of the Credit Agreement are true and
correct in all material respects with the same effect as if made on the date hereof, except to the extent such representations and warranties expressly relate to an earlier date. 

    (c) After
giving effect to this Consent and Waiver, no Default or Event of Default shall have occurred and be continuing. 

    SECTION
5.  Effectiveness.  

    This
Consent and Waiver shall become effective as of the date set forth above on the date (the "Consent and Waiver Effective Date")
that (a) the representations and warranties set forth in Section 4 of this Consent and Waiver shall be true and correct and (b) the Administrative Agent or its counsel shall have
received counterparts of this Consent and Waiver which, when taken together, bear the signatures of each of Holdings, the Borrower, the Subsidiary Guarantors and the Required Lenders. 

    SECTION
6.  Effect of Consent and Waiver.  

    Except
as expressly set forth herein, this Consent and Waiver shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies
of the Lenders, any Issuing Bank, the Collateral Agent or the Administrative Agent, under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any
of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue
in full force and effect. Nothing herein shall be deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations,
covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. This Consent and Waiver shall apply and be effective only with respect to
the provisions 

2

 

of the Credit Agreement specifically referred to herein. This Consent and Waiver shall constitute a "Loan Document" for all purposes of the Credit Agreement and the other Loan Documents. 

    SECTION
7.  Counterparts.  

    This
Consent and Waiver may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be
deemed an original, but all such counterparts together shall constitute but one and the same instrument. Delivery of any executed counterpart of a signature page of this Consent and Waiver by
facsimile transmission shall be as effective as delivery of a manually executed counterpart hereof. 

    SECTION
8.  Applicable Law.  

    THIS CONSENT AND WAIVER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

    SECTION
9.  Headings.  

    The
headings of this Consent and Waiver are for purposes of reference only and shall not limit or otherwise affect the meaning hereof. 

    IN
WITNESS WHEREOF, the parties hereto have caused this Consent and Waiver to be duly executed by their respective authorized officers as of the day and year first above written. 

	 	 	AMERICAN COMMERCIAL LINES LLC,
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

AMERICAN COMMERCIAL LINES HOLDINGS LLC,
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

THE CHASE MANHATTAN BANK, individually and as Administrative Agent, Collateral Agent, Issuing Bank and Security Trustee,
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	Title:	 	 

3

 

    Each of the Subsidiary Guarantors hereby acknowledges receipt of and consents to this Consent and Waiver: 

ACL
CAPITAL CORP.

AMERICAN COMMERCIAL BARGE LINE LLC

AMERICAN COMMERCIAL LINES INTERNATIONAL LLC

AMERICAN COMMERCIAL MARINE SERVICE LLC

JEFFBOAT LLC

AMERICAN COMMERCIAL TERMINALS LLC

AMERICAN COMMERCIAL TERMINALS-MEMPHIS LLC

LOUISIANA DOCK COMPANY LLC

HOUSTON FLEET LLC

LEMONT FLEETING & HARBOR SERVICE LLC

TIGER SHIPYARD LLC

WILKINSON POINT LLC

ORINOCO TASA LLC

ORINOCO TASV LLC

BREEN TAS LLC

BULLARD TAS LLC

SHELTON TAS LLC 

	by	 	 
	 	 	

	 	 	Name:

Title: Authorized Signatory

4Prepared by MERRILL CORPORATION www.edgaradvantage.com

   EXHIBIT 10.17  

    EXECUTION COPY 

    AMENDMENT
No. 4, CONSENT AND WAIVER dated as of October 13, 2000 (this "Amendment"), to the Credit Agreement dated as of
June 30, 1998, as amended by Amendment No. 1 Waiver and Agreement dated as of January 29, 1999, Amendment and Waiver No. 2 dated as of December 13, 1999 and Consent
and Waiver No. 3 dated as of June 1, 2000 (the "Credit Agreement"), among AMERICAN COMMERCIAL LINES LLC, a Delaware limited liability
company (the "Borrower"), AMERICAN COMMERCIAL LINES HOLDINGS LLC, a Delaware limited liability company
("Holdings"), the LENDERS (as defined in the Credit Agreement), and THE CHASE MANHATTAN BANK, a New York banking corporation
("Chase"), as issuing bank (in such capacity, the "Issuing Bank"), as administrative agent (in such
capacity, the "Administrative Agent"), as security trustee (in such capacity, the "Security Trustee")
and as collateral agent (in such capacity, the "Collateral Agent") for the Lenders. 

    A.  Pursuant
to the Credit Agreement, the Lenders and the Issuing Bank have extended credit to the Borrower, and have agreed to extend credit to the Borrower, in each
case pursuant to the terms and subject to the conditions set forth therein. 

    B.  American
Commercial Lines International LLC, a Delaware corporation and a direct wholly owned subsidiary of the Borrower, owns approximately an 80% interest in ACBL
Hidrovias Ltd., a company organized under the laws of Bermuda ("ACBLH Ltd."). ACBLH Ltd. owns, directly or indirectly, a 100%
interest in ACBL Hidrovias S.A., a company organized under the laws of Argentina ("ACBLH S.A."). The Borrower has informed the Administrative Agent that
ACBLH Ltd. intends to contribute certain of its assets and all of the assets of ACBLH S.A. to a newly formed company ("Newco"), in exchange for a
50% ownership and voting interest in Newco (the "Argentina Investment"). 

    C.  The
Borrower has requested that the Required Lenders consent to the Argentina Investment and agree to a limited waiver of the Credit Agreement in connection
therewith. The Required Lenders are willing to grant such consent and such limited waiver pursuant to the terms and subject to the conditions set forth herein. 

    D.  Each
capitalized term used and not otherwise defined herein shall have the meaning assigned to such term in the Credit Agreement. 

    Accordingly,
in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the
parties hereto agree as follows: 

    SECTION
1.  Amendments.  

    (a) Section 1.01
of the Credit Agreement is hereby amended by replacing paragraph (a) in the definition of "Consolidated Net Income" with the following: 

"(a)
the income of any person (other than, to the extent of the Borrower's equity interest therein, persons in which the Borrower or any of the Subsidiaries holds 50% or more of the Capital Stock) in
which any other person (other than the Borrower or any of the Subsidiaries or any director holding qualifying shares in accordance with applicable law) has a joint interest, except to the extent of
the amount of dividends or other distributions actually paid to the Borrower or any wholly owned Subsidiary by such person during such period" 

1

 

    SECTION
2.  Consent and Waiver.  

    The
Required Lenders hereby consent to the Argentina Investment and hereby waive compliance by the Borrower with the provisions of Section 6.04 of the Credit Agreement to the
extent (but only to the extent) necessary to permit such investment, so long as the Borrower or any Subsidiary beneficially owns, directly or indirectly, at least 50% of the economic interests of
Newco. 

    SECTION
3.  Representations and Warranties.  

    The
Borrower and Holdings each represents and warrants to the Administrative Agent and the Lenders that: 

    (a) This
Amendment has been duly executed and delivered by it and constitutes its legal, valid and binding obligation enforceable against it in accordance with its
terms, except as enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors' rights generally and except as enforceability may be
limited by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

    (b) Before
and after giving effect to this Amendment, the representations and warranties set forth in Article III of the Credit Agreement are true and correct in
all material respects with the same effect as if made on the date hereof, except to the extent such representations and warranties expressly relate to an earlier date. 

    (c) After
giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing. 

    (d) Immediately
after giving effect to the Argentina Investment, the Borrower or any Subsidiary will beneficially own, directly or indirectly, at least 50% of the
economic interests of Newco. 

    SECTION
4.  Effectiveness.  

    This
Amendment shall become effective as of the date set forth above on the date (the "Amendment Effective Date") that (a) the
representations and warranties set forth in Section 3 of this Amendment shall be true and correct and (b) the Administrative Agent or its counsel shall have received counterparts of this
Amendment which, when taken together, bear the signatures of each of Holdings, the Borrower, the Subsidiary Guarantors and the Required Lenders. 

    SECTION
5.  Effect of Amendment.  

    Except
as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the
Lenders, the Issuing Bank, the Collateral Agent, the Security Trustee or the Administrative Agent, under the Credit
Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or
any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle the Borrower to a consent to, or
a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or
different circumstances. This Amendment shall apply and be effective only with respect to the provisions of the Credit Agreement specifically referred to herein. This Amendment shall constitute a
ALoan Document@ for all purposes of the Credit Agreement and the other Loan Documents. 

2

 

    SECTION 6.  Counterparts.  

    This
Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the same instrument. Delivery of any executed counterpart of a signature page of this Amendment by facsimile transmission
shall be as effective as delivery of a manually executed counterpart hereof. 

    SECTION
7.  Applicable Law.  

    THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

    SECTION
8.  Headings.  

    The
headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof. 

    IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written. 

	 	 	AMERICAN COMMERCIAL LINES LLC,
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

AMERICAN COMMERCIAL LINES HOLDINGS LLC,
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	Title:	 	 
	

 	
 	

THE CHASE MANHATTAN BANK, individually and as Administrative Agent, Collateral Agent, Issuing Bank and Security Trustee,
	

 	
 	

By	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	Title:	 	 

3

 

    Each of the Subsidiary Guarantors hereby acknowledges receipt of and consents to this Amendment: 

ACL
CAPITAL CORP.

AMERICAN COMMERCIAL BARGE LINE LLC

AMERICAN COMMERCIAL LINES INTERNATIONAL LLC

AMERICAN COMMERCIAL MARINE SERVICE LLC

JEFFBOAT LLC

AMERICAN COMMERCIAL TERMINALS LLC

AMERICAN COMMERCIAL TERMINALS-MEMPHIS LLC

LOUISIANA DOCK COMPANY LLC

HOUSTON FLEET LLC

LEMONT FLEETING & HARBOR SERVICE LLC

TIGER SHIPYARD LLC

WILKINSON POINT LLC

ORINOCO TASA LLC

ORINOCO TASV LLC

BREEN TAS LLC

BULLARD TAS LLC

SHELTON TAS LLC 

	by	 	 
	 	 	

	 	 	Name:

Title: Authorized Signatory

4

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