Notice of Cancellation of Irrevocable Standby Letter of Credit (Blockbuster Inc. and Wachovia)
Blockbuster Inc. formally requests Wachovia to cancel an irrevocable standby letter of credit (LC # SM209681) valued at $4,325,701.91. The notice is addressed to specific representatives at Wachovia and is acknowledged by Viacom Inc., indicating their agreement to the cancellation. The document serves as an official communication to terminate the letter of credit associated with Blockbuster's account.
Exhibit 10.2
January 5, 2010
Wachovia
Attention: Mr. Russ Lyons
***@***
With a copy to:
Attention: Mr. Paul Hulbert
***@***
| Re: | Irrevocable Standby Letter of Credit |
LC # SM209681
USD $4,325,701.91
Acct.: Blockbuster Inc. (“Blockbuster”)
Dear Mr. Lyons:
We hereby request that you cancel the letter of credit referenced above.
Please don’t hesitate to contact the undersigned with any questions regarding this matter.
| Sincerely, |
| /s/ Russell Birk |
| Russell Birk |
| Vice President & Treasurer |
| Blockbuster Inc. |
Acknowledged and agreed for purposes
of the cancellation of letter of credit # SM209681:
VIACOM INC.
| By: | /s/ Keyes Hill-Edgar | |
| Name: Keyes Hill-Edgar | ||
| Title: Senior Vice President |
