Staples, Inc. Notice of Mandatory Commitment Reduction under Credit Agreement with Barclays Bank PLC
Staples, Inc. notifies Barclays Bank PLC, as Administrative Agent, that it is reducing the total commitment under their existing Credit Agreement by $500 million, effective March 27, 2009. This reduction is made in accordance with the agreement's terms following the issuance of certain indebtedness, leaving a remaining total commitment of $761 million. Barclays is requested to inform the other lenders of this change as required by the agreement.
Exhibit 10.1
March 24, 2009
Barclays Bank PLC
200 Cedar Knolls Road
Whippany, New Jersey 07981
Attention: May Wong
Fax: 973 ###-###-####
Email: ***@***
Barclays Capital
200 Park Avenue
New York, New York 10166
Attention: David E. Barton
Fax: 212 ###-###-####
Email: ***@***
| Re: | Credit Agreement, dated April 1, 2008, by and among Staples, Inc., Barclays Bank PLC, as successor Administrative Agent, and the co-syndication agents and lenders party thereto, as amended from time to time through the date hereof (the “Credit Agreement”) |
Ladies and Gentlemen:
Reference is hereby made to Section 2.6(a) (“Mandatory Commitment Reductions”) of the Credit Agreement. Terms used herein but not defined herein shall have the meanings assigned thereto in the Credit Agreement.
Please take notice that, in accordance with Section 2.6(a) of the Credit Agreement in connection with the issuance of certain Indebtedness, Staples, Inc. hereby gives notice that, effective March 27, 2009, the Total Commitment shall be reduced by $500,000,000 resulting in a remaining Total Commitment of $761,000,000.
Please give notice to the Lenders of this reduction of the Total Commitment in accordance with Section 2.6(a) of the Credit Agreement.
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| Regards, | |
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| STAPLES, INC. | |
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| By: | /s/ Marci Jo Lerner |
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| Name: | Marci Jo Lerner |
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| Title: | Vice President, Assistant Treasurer |
