Renewal Letter for $30,000,000 Revolving Credit Facility Commitment between Ansoft Corporation and PNC Bank

Contract Categories: Business Finance › Modification Agreements
Summary

This letter from PNC Bank to Ansoft Corporation confirms the renewal of a $30 million revolving credit facility. The expiration date of the credit facility, originally set for October 21, 2006, is extended to October 21, 2007. All other terms and conditions of the original loan agreement remain unchanged. The letter serves as formal notice of the extension and maintains the existing lending relationship between the parties.

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EX-10.14 2 l22981aexv10w14.htm EX-10.14 EX-10.14  

EXHIBIT 10.14
October 20, 2006
Ansoft Corporation
225 West Station Square Drive
Suite 200
Pittsburgh, PA 15219
Attention: Shane Emswiler
Re: Renewal of Expiration Date for $30,000,000.00 Revolving Credit Facility Commitment
Dear Mr. Emswiler:
     Capitalized terms used herein shall have the meanings ascribed to them in the Loan Agreement (as hereinafter defined). We are pleased to inform you that your Revolving Credit Facility Commitment has been renewed. The Revolving Credit Facility Expiry Date, as set forth in that certain Loan Agreement dated October 21, 2004 (the “Loan Agreement”), has been extended from October 21, 2006 to October 21, 2007, effective on October 22, 2006. All other terms and conditions of the Loan Agreement, and all Loan Documents executed and delivered in connection therewith, remain in full force and effect.
     It has been a pleasure working with you and I look forward to a continued successful relationship. Thank you again for your business.
         
  Very truly yours,

PNC BANK, NATIONAL ASSOCIATION
 		  
  By:   /s/ Michael L. Hammond    
    Michael L. Hammond   
    Senior Vice President   
 
A member of The PNC Financial Services Group
One PNC Plaza 249 Fifth Avenue Pittsburgh Pennsylvania ###-###-####