Termination Letter for Bi-Lateral Credit Agreement between Callaway Golf Company and Bank of America, N.A.
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This letter confirms that Callaway Golf Company and Bank of America, N.A. have agreed to terminate their existing Bi-Lateral Credit Agreement as of November 10, 2003. The termination was requested by Callaway and accepted by the bank, with prior notice requirements waived. The termination coincides with the start of a new credit agreement involving Callaway, Bank of America (as agent and lender), and other lenders. Both parties have signed to confirm their agreement to these terms.
EX-10.39 6 a96880exv10w39.txt EXHIBIT 10.39 EXHIBIT 10.39 BANK OF AMERICA, N.A. November 12, 2003 Callaway Golf Company 2180 Rutherford Road Carlsbad, CA 92008-7328 Re: Credit Agreement dated as of June 16, 2003 (the "Bi-Lateral Credit Agreement") between Callaway Golf Company (the "Borrower") and Bank of America, N.A. (the "Lender") Ladies and Gentlemen: At the request of the Borrower indicated by its signature below, the Lender acknowledges that its Commitment under the Bi-Lateral Agreement was terminated on November 10, 2003 (prior notice of such request being waived by the Lender) concurrently with the effectiveness of the Credit Agreement dated as of November 10, 2003 among the Borrower, Bank of America, N.A., as Agent, L/C Issuer and Swing Line Lender and the Lenders party thereto. Please execute and return a copy of this letter to the undersigned by telefacsimile transmission to ###-###-####. Sincerely yours, BANK OF AMERICA, N.A. By /s/ Susan J. Pepping ----------------------------- Susan J. Pepping Senior Vice President Confirmed and agreed: CALLAWAY GOLF COMPANY By: /s/ Bradley J. Holiday ----------------------------------- Name: Bradley J. Holiday Title: Sr. Exec. VP, CFO
