Notice of Termination of Receivables Purchase Agreement among ADC Receivables Corp. I, ADC Telecommunications, Inc., Blue Ridge Asset Funding Corporation, and Wachovia Bank, N.A.
ADC Receivables Corp. I has notified Asset Funding Corporation, Wachovia Bank, N.A., ADC Telecommunications, Inc., and Blue Ridge Asset Funding Corporation of its decision to immediately and permanently reduce the purchase limit under their Receivables Purchase Agreement to zero. This action effectively terminates the agreement and triggers the end of the facility, as well as the start of the amortization and facility termination dates, in accordance with the agreement's terms.
Exhibit 10-b
April 18, 2003
VIA FACSIMILE
Asset Funding Corporation
c/o Wachovia Bank, N.A.
100 North Main Street
Winston-Salem, NC 27150
Attn. Douglas K. Johnson
Facsimile ###-###-####
Re: Termination of Receivables Purchase Agreement dated December 12, 2001 (the “Receivables Purchase Agreement”) among ADC Receivables Corp. I, ADC Telecommunications, Inc. Blue Ridge Asset Funding Corporation and Wachovia Bank, N.A.
Reference is hereby made to the Receivables Purchase Agreement. Capitalized terms used herein and not defined shall have the meaning assigned to such terms in the Receivables Purchase Agreement.
ADC Receivables Corp. I hereby provides notice and elects pursuant to Section 1.1(b) of the Receivables Purchase Agreement to immediately and irrevocably reduce the Purchase Limit to $0.00 from its present level. To the extent necessary or otherwise required, ADC Receivables Corp. I also hereby provides notice and elects to immediately and irrevocably terminate the facility evidenced by the Receivables Purchase Agreement thereby triggering an Amortization Date and the Facility Termination Date.
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| Sincerely, |
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| /s/ Gokul V. Hemmady |
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| Gokul V. Hemmady |
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| Vice President and Treasurer of |
