Promissory Note Maturity Extension Agreement between SSA Global Technologies, Inc. and GAP Coinvestment Partners II, L.P.
SSA Global Technologies, Inc. and GAP Coinvestment Partners II, L.P. have agreed to extend the final maturity date of a promissory note originally due on November 15, 2005, to November 15, 2006. This agreement modifies the terms of the original note, allowing SSA more time to repay the principal amount of $1,773,182.23. The agreement is effective upon signature and is governed by New York law.
Exhibit 10.57
SSA Global Technologies, Inc.
500 W. Madison, Suite 1600
Chicago, Illinois 60661
November 17, 2004
GAP Coinvestment Partners II, L.P.
c/o General Atlantic Service Corporation
3 Pickwick Plaza
Greenwich, CT 06830
Reference is made to the Second Amended and Restated Promissory Note dated February 26, 2004, made by SSA Global Technologies, Inc. to GAP Coinvestment Partners II, L.P. (the Payee) in the original principal amount of $1,773,182.23 (the Note). The Final Maturity Date (as defined therein) of the Note is November 15, 2005. SSA has requested that the Payee extend the Final Maturity Date to November 15, 2006. By your signature below, the Payee hereby agrees that the Final Maturity Date of the Note shall be extended to November 15, 2006.
This letter agreement may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of this letter agreement by facsimile or electronic mail shall be equally effective as delivery of an original executed counterpart. This letter agreement shall be governed by and construed in accordance with the law of the State of New York applicable to contracts made and to be performed within such state.
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| Very truly yours, |
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| SSA GLOBAL TECHNOLOGIES, INC. |
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| By: | /s/ Stephen Earhart |
| Name: | Stephen Earhart |
| Title: | EVP/CFO SSA |
Acknowledged, accepted and agreed to:
GAP COINVESTMENT PARTNERS II, L.P.
By: | /s/ Matthew Nimetz |
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Name: | Matthew Nimetz | |
Title: | a General Partner |