Staples, Inc. Notice of 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 $250 million, effective December 29, 2008. After this reduction, the remaining total commitment will be $2.75 billion. Barclays is requested to inform the other lenders of this change, as required by the agreement. This notice is issued in accordance with the terms set out in the original credit agreement.
Exhibit 10.1
December 23, 2008
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 2.4 (“Reduction of Total Commitment”) 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 2.4 of the Credit Agreement, Staples, Inc. hereby gives notice that, effective December 29, 2008, the Total Commitment shall be reduced by $250,000,000.00, resulting in a remaining Total Commitment of $2,750,000,000.00.
Please give notice to the Lenders of this reduction of the Total Commitment in accordance with Section 2.4 of the Credit Agreement.
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| Regards, | |||
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| STAPLES, INC. | |||
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| By: | /s/ Nicholas Hotchkin | ||
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| Name: Nicholas Hotchkin | |||
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| Title: Senior Vice President, Finance | |||
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| Treasurer | ||
