Bank of America, N.A. 1600 John F. Kennedy Boulevard
Exhibit 10.7
Bank of America, N.A.
1600 John F. Kennedy Boulevard
4 Penn Center, Suite 1100
Philadelphia, PA 19103
Banc of America Securities LLC
214 North Tryon Street, 17th & 18th Floors
Charlotte, NC 28255
May 31, 2007
StoneMor Operating LLC
155 Rittenhouse Circle
Bristol, Pennsylvania 19007
Attention: William Shane, President
Re: | Extension of Commitment Letter |
Dear Bill:
You have requested that we extend the expiration date of our commitment letter dated March 15, 2007 (the Commitment Letter), pursuant to which Bank of America, N.A. and Banc of America Securities LLC (collectively, Bank of America) advised you of their commitment to arrange for you a $65,000,000 Senior Secured Credit Facility (the Facility). Subject to all of the terms and conditions set forth in the Commitment Letter (other than the expiration date), Bank of America hereby agrees to extend the expiration of the Commitment Letter to June 29, 2007.
If you are in agreement with the foregoing, please execute the enclosed copy of this letter no later than 5:00 p.m. on May 31, 2007. The Commitment Letter shall terminate if this letter is not so accepted by you prior to that time. Following acceptance by you, the Commitment Letter shall expire at 5:00 p.m. on June 29, 2007, unless the Facility is closed by such time.
Very truly yours, | ||
BANK OF AMERICA, N.A. | ||
By: | /s/ Kenneth G. Wood | |
Kenneth G. Wood, Senior Vice President | ||
BANC OF AMERICA SECURITIES LLC | ||
By: | /s/ Robert C. Megan | |
Robert C. Megan, Managing Director |
EXTENSION ACCEPTED AND AGREED TO
THIS 31st DAY OF MAY, 2007:
STONEMOR OPERATING LLC | ||
By: | /s/ William R. Shane | |
William R. Shane, Executive Vice President |