Termination Letter and Commitment Reduction Notice for Credit and Security Agreement between Spherion Receivables Corporation, Spherion Corporation, Blue Ridge Asset Funding Corporation, and Wachovia Bank, N.A.
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This letter, dated May 10, 2001, is a formal request from Spherion Receivables Corporation to reduce the Aggregate Commitment under the Credit and Security Agreement with Spherion Corporation, Blue Ridge Asset Funding Corporation, and Wachovia Bank, N.A. by $50,000,000. As this reduction represents the remaining portion of the facility, the letter also serves as notice of termination of the agreement, effective May 17, 2001. The letter thanks Wachovia Bank for its service and provides contact information for further questions.
EX-10.54 10 a2054894zex-10_54.txt TERMINATION LETTER Exhibit 10.54 May 10, 2001 Wachovia Bank N.A. 191 Peachtree Street, 26th Floor GA-423 Atlanta, GA 30303 Attn: Elizabeth Wagner Via Fax: 404 ###-###-#### Blue Ridge Asset Funding Corporation 100 North Main Street Winston Salem, MC 27150 Attn: John Dillon Via Fax: 336 ###-###-#### Blue Ridge Asset Funding Corporation C/o AMACAR Group L.L.C. 6525 Morrison Boulevard Suite 318 Charlotte, NC 28211 Attn: Douglas K. Johnson Via Fax: 704 ###-###-#### Re: Commitment Reduction Notice To Whom It May Concern: Please consider this to be our request to reduce the Aggregate Commitment of the Credit and Security Agreement dated July 1, 1999 (as amended and restated thereafter) between Spherion Receivables Corporation as Borrower, Spherion Corporation as initial Servicer, Blue Ridge Asset Funding Corporation (the Conduit), and Wachovia Bank, N.A. as Lender. Please reduce the Aggregate Commitment of the Credit and Security Agreement by $50,000,000. As this Commitment Reduction Notice represents the remaining portion of this facility, this letter also serves as a termination letter for the Credit and Security Agreement. The effective date of this Commitment Reduction Notice and termination, pursuant to Section 1.6 of the Credit and Security Agreement, shall be May 17, 2001. I would like to thank Wachovia Bank for servicing this agreement during the course of the past two years. Should you have any questions, please call me at ###-###-####. Kind regards, /s/ Bruce T. Petersen Bruce T. Petersen Assistant Treasurer Cc: Bill McCamey Via Fax: 404 ###-###-####
