Amendment No. 2
to
SEC File No. 70-8311
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U-1
APPLICATION
UNDER
THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 ("Act")
OLS ACQUISITION CORP. ("Acquisition Corp.")
OLS ENERGY - BERKELEY ("Berkeley")
One Upper Pond Road
Parsippany, New Jersey 07054
(Names of companies filing this statement and addresses
of principal executive offices)
GENERAL PUBLIC UTILITIES CORPORATION ("GPU")
(Name of top registered holding company parent of applicants)
Don W. Myers, Vice President Douglas E. Davidson, Esq.
and Treasurer Berlack, Israels & Liberman
M.A. Nalewako, Secretary 120 West 45th Street
GPU Service Corporation New York, New York 10036
100 Interpace Parkway
Parsippany, New Jersey 07054
B.L. Levy, President
K.A. Tomblin, Secretary
Energy Initiatives, Inc.
One Upper Pond Road
Parsippany, New Jersey 07054
________________________________________________________________
(Names and addresses of agents for service)
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Acquisition Corp. and Berkeley hereby amend their
Application on Form U-1, docketed in SEC File No. 70-8311, as
follows:
1. By amending paragraph 8 of ITEM I thereof to read in
its entirety as follows:
"8. The Restructure further
contemplates that GECC will make available to
Berkeley a loan facility (the "Overhaul Loan
Facility") under the Berkeley Credit
Agreement providing for borrowings by
Berkeley of up to $1,000,000 outstanding from
time to time to fund the cost of major
repairs, non-routine maintenance activities
and overhauls of its Facility, provided that
the initial advance under the Overhaul Loan
Facility may, under certain circumstances, be
used to pay amounts due fuel suppliers and
the operator of the Facility, costs incurred
to consummate the Restructure, prepayments of
working capital advances and rent under
Lease. Borrowings under the Overhaul Loan
Facility may be made from time to time until
August 7, 2007, would bear interest at a rate
per annum of 3% in excess of the rate of
interest per annum publicly announced by
Morgan Guaranty Trust Company as its
commercial reference rate, or certain
substantially equivalent rates of interest
per annum if Morgan Guaranty Trust Company
ceases to announce such a rate of interest,
and would be repayable on a fixed
amortization schedule (determined at the
time each loan is made) over the lesser of
(a) three years or (b) the time remaining
until August 7, 2007. The obligation of GECC
to make each loan under the Overhaul Loan
Facility would be subject, among other
conditions, to the delivery of certain
documentation, the absence of a material
adverse change in the financial condition of
Berkeley, the showing by Berkeley in form and
substance satisfactory to GECC that Berkeley
will have sufficient cash to repay the loan
and the absence of a default under, among
other agreements, the amended Lease and the
amended Credit Agreement."
1
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SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE PUBLIC UTILITY
HOLDING COMPANY ACT OF 1935, THE UNDERSIGNED COMPANIES HAVE DULY
CAUSED THIS STATEMENT TO BE SIGNED ON THEIR BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
OLS ACQUISITION CORP.
OLS ENERGY-BERKELEY
By:
Bruce L. Levy, President
Date: February 16, 1994
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