Renewal Letter for $30,000,000 Committed Line of Credit between PNC Bank and Evercore Partners Services East L.L.C.
PNC Bank has renewed a $30 million committed line of credit for Evercore Partners Services East L.L.C., extending the expiration date from June 23, 2017 to June 22, 2018. All amounts owed under the original loan documents are now due on the new expiration date. All other terms and conditions of the original agreement remain unchanged. Evercore LP and Evercore Group Holdings L.P. are listed as guarantors.
Exhibit 10.1
June 14, 2017
Evercore Partners Services East L.L.C.
55 East 52nd Street
New York, NY 10055
Attention: Robert B. Walsh, Chief Financial Officer
| Re: | Renewal of Expiration Date for that certain $30,000,000.00 Committed Line of Credit (“Line of Credit”) extended by PNC Bank, National Association (the “Bank”) to Evercore Partners Services East L.L.C. (the “Borrower”) |
Dear Mr. Walsh:
We are pleased to inform you that the Line of Credit has been renewed. The Expiration Date of the Line of Credit, as set forth in that certain Committed Line of Credit Note executed and delivered by the Borrower to the Bank dated June 24, 2016 (the “Note”) and that certain loan agreement governing the Line of Credit (the “Loan Agreement”), has been extended from June 23, 2017 to June 22, 2018, or such later date as may, in the Bank’s sole discretion, be designated by the Bank by written notice from the Bank to the Borrower, effective on June 24, 2017. All sums due under the Note, the Loan Agreement or any related documents, instruments and agreements (collectively as amended from time to time, the “Loan Documents”) shall be due and payable on the Expiration Date, as extended hereby. All other terms and conditions of the Loan Documents governing the Line of Credit 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/ Sheryl Jordan | |
| Sheryl Jordan, Senior Vice President | ||
| cc: | Evercore LP, Guarantor | |
| Evercore Group Holdings L.P., Guarantor | ||
Member of The PNC Financial Services Group
The Tower at PNC Plaza 300 Fifth Avenue Pittsburgh Pennsylvania ###-###-####
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