Loan Notice for Continuation of Term Loan between Sonoco Products Company and Wells Fargo Bank

Contract Categories: Business Finance › Loan Agreements
Summary

Sonoco Products Company has submitted a formal notice to Wells Fargo Bank, requesting the continuation of a $200,000,000 term loan under their existing agreement. The loan will be continued as a Eurodollar Rate Loan with a one-month interest period, effective March 19, 2020. The notice confirms that all required conditions under the agreement are met as of the extension date. This document serves as an official request and confirmation of compliance with the loan terms.

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EX-10.5 4 ex105renewalnoticedate.htm EX-10.5 Document


FORM OF LOAN NOTICE

Date: March 19, 2020

To: Wells Fargo Bank, National Association, as Lender Wells Fargo Corporate Banking
90 S 7th Street, 15th Floor MAC N9305-152
Minneapolis, MN 55402
Ladies and Gentlemen:

Reference is made to that certain letter agreement, dated as of May 17, 2019 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the "Agreement;" the terms defined therein being used herein as therein defined), by and between SONOCO PRODUCTS COMPANY, a South Carolina corporation (the "Borrower"), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Lender.

The undersigned hereby requests (select one):

☐ The borrowing of the Term Loan
☐ A conversion of the Term Loan
☒ A continuation of the Term Loan
1.On March 19, 2020 (a Business Day) (the "Credit Extension Date").

2.In the amount of $200,000,000.

3.Comprised of: ☐ Base Rate Loans
☒ Eurodollar Rate Loans
4.For Eurodollar Rate Loans: with an Interest Period of 1 month.

The Borrower hereby represents and warrants that the conditions specified in [Paragraph 2(a) and] Paragraph 2(b) of the Agreement shall be satisfied on and as of the date of the Credit Extension Date.

Delivery of an executed counterpart of a signature page of this notice by fax transmission or other electronic mail transmission (e.g. "pdf' or "tif') shall be effective as delivery of a manually executed counterpart of this notice.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]








SONOCO PRODUCTS COMPANY,
a South Carolina corporation
By:/s/ W. Patrick Youngblood
Name:W. Patrick Youngblood
Title:Assistant Treasurer/Director of Global Tax


































LOAN NOTICE
SONOCO PRODUCTS COMPANY