Amendment to Committed Letter of Credit Facility between Citibank Europe plc and Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd., and Glencoe Insurance Ltd.

Contract Categories: Business Finance › Facility Agreements
Summary

This amendment extends the expiration date of a committed letter of credit facility provided by Citibank Europe plc to Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd., and Glencoe Insurance Ltd. The original facility was set to expire on December 31, 2012, but this amendment extends the termination date to December 31, 2013. All other terms of the original facility letter remain unchanged. The amendment is effective upon acceptance and signature by the parties involved.

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EX-10.17(B) 2 ex1017bamendmenttofacility.htm AMENDMENT TO FACILITY LETTER Exhibit


Niall Tuckey        Citibank Europe plc
                        Vice President        1 North Wall Quay
                        ILOC Product        Dublin 1, Ireland
Tel    +353 (1) 622 7430
                                    Fax    +353 (1) 622 2741
                                     ***@***

Date:    July 14th, 2011
To:
Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd. and Glencoe Insurance Ltd. (the “Original Companies”)
Re:
Committed Letter of Credit Facility established by Citibank Europe plc in favour of Renaissance Reinsurance Ltd., DaVinci Reinsurance Ltd. and Glencoe Insurance Ltd. pursuant to a Letter Agreement dated 17 September 2010 (the “Facility Letter”)
We refer to Clause to 1.1 of the Facility Letter which provides that the Facility established there under will expire on December 31st, 2012 (the “Termination Date”).
We have pleasure in confirming the commitment Termination Date shall be extended to December 31st, 2013.
Save as expressly provided in this Letter, the provisions of the Facility Letter shall remain in full force and effect.
Please indicate your acceptance of the provisions hereof by signing and dating the enclosed duplicate copy of this Letter and returning this to me as soon as possible.
Capitalised terms not defined herein shall have the meaning ascribed thereto in the Facility Letter, as applicable.
Yours faithfully,

For and on behalf of
Citibank Europe plc
/s/ Niall Tuckey_____________________
Name: Niall Tuckey
Title: Vice President
Date: 14/07/2011

Accepted and agreed by:
For and on behalf of 
Renaissance Reinsurance Ltd.

/s/ Todd R. Fonner ________________________ 
Name: Todd R. Fonner 
Date: SVP and CIO    
Title: 7/14/11   
For and on behalf of  
DaVinci Reinsurance Ltd.

/s/ Todd R. Fonner ___________________ 
Name: Todd R. Fonner 
Date: SVP and CIO    
Title: 7/14/11   
For and on behalf of  
Glencoe Insurance Ltd.

/s/ Todd R. Fonner ____________________ 
Name: Todd R. Fonner 
Date: SVP and CIO    
Title: 7/14/11   _

Citibank Europe plc
Directors: Aidan M. Brady, Mark Fitzgerald, Jim Farrell, Bo J. Hammerich (Sweden), Brian Hayes, Mary Lambkin, Frank McCabe, William J. Mills (USA), Terence O’Leary (U.K.), Cecilia Ronan, Patrick Scally, Christopher Teano (U.S.A.), Francesco Vanni d’Archirafi (Italy), Tony Woods
Registered in Ireland: Registration Number 132781, Registered Office: 1 North Wall Quay, Dublin 1
Ultimately owned by Citigroup Inc., New York, U.S.A.
Citibank Europe plc is regulated by the Central Bank of Ireland