Banco Inbursa Line of Credit Extension Letter to Prodigy Communications Corporation (January 17, 2001)
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Summary
Banco Inbursa has approved an extension of a $150 million line of credit for Prodigy Communications Corporation, to be used for working capital and general corporate needs. The line of credit allows Prodigy to borrow, repay, and reborrow funds until the maturity date of June 15, 2002. The interest rate will be determined on a case-by-case basis according to market conditions. This is the only line of credit available to Prodigy from Banco Inbursa, replacing any previous arrangements.
EX-10.7 5 0005.txt LETTER FROM BANCO INBURSA [BANCO INBURSA S.A. LETTERHEAD] Exhibit 10.7 January 17, 2001 Allen Craft CFO Prodigy Communications Corporation Dear Allen: Hereby we notify you that Banco Inbursa has approved the extension of the line of credit that Prodigy Communications Corporation has available, under the following terms and conditions: Borrower: Prodigy Communications Corporation Amount: $150,000,000.00 (One Hundred and Fifty Million dollars) Maturity: June 15, 2002 Rate: Determined case by case under Market Conditions. Terms of Borrowing: Borrower may borrow, repay and reborrow. Purpose of the Loan: Working capital and general corporate needs This line of credit will be the only line available for Prodigy Communications Corporation as it is an extension of the actual one. Best Regards /s/ Luis Frias Humphrey Luis Frias Humphrey VP International
