Notice of Extension of Termination Date for Sealed Air Corporation $500,000,000 5-Year Revolving Credit Facility
This notice informs the lenders of Sealed Air Corporation's $500 million revolving credit facility that the required lenders have approved an extension of the facility's termination date from July 26, 2006 to July 26, 2011. The extension was granted after the company met all conditions specified in the original credit agreement. Citicorp USA, Inc., acting as the administrative agent, issued this notice to confirm the extension and thank the lenders for their support.
Exhibit 10.2
NOTICE TO LENDERS
| Memorandum | |
| To: | Lenders |
| From: | Citicorp USA, Inc. as Administrative Agent (the “Agent”) |
| Date: | July 26, 2006 |
| Re: | Sealed Air Corporation’s $500,000,000 5-Year Revolving Credit Facility |
Please be advised that the Required Lenders have approved the request for Extension of Termination Date (as defined in the Credit Agreement dated July 26, 2005). The following lenders have approved the extension:
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| ABN AMRO |
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| Allied Irish Bank |
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| Banco Bilbao Vizcaya Argentaria |
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| Bank of America |
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| Bank of Tokyo-Mitsubishi |
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| BNP Paribas |
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| Calyon |
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| Citigroup |
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| Credit Suisse First Boston |
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| JP Morgan Chase |
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| Lehman |
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| Merrill Lynch |
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| Mizuho Corporate Bank |
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| Morgan Stanley Bank |
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| Rabobank International |
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| Royal Bank of Scotland |
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| San Paolo |
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| SunTrust Bank |
The Company has satisfied all applicable conditions set forth in Section 2.20 of the Credit Agreement effective today, July 26, 2006. The new Termination Date will be July 26, 2011.
Sealed Air Corporation and Citigroup thank you for your continued support.
