Extension Letter to Commitment Letter for $65 Million Senior Secured Credit Facility – StoneMor Operating LLC and Bank of America
This letter agreement, dated July 31, 2007, is between StoneMor Operating LLC and Bank of America, N.A. (along with Banc of America Securities LLC). It extends the expiration date of a prior commitment letter for a $65 million senior secured credit facility from July 31, 2007, to August 15, 2007. All other terms of the original commitment letter remain unchanged. The extension is effective only if StoneMor signs and returns the letter by 5:00 p.m. on July 31, 2007. If not accepted by then, the commitment will terminate.
Exhibit 10.9
July 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, as previously extended by an extension letter dated May 31, 2007 and a second extension letter dated June 21, 2007, (as so extended, 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 August 15, 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 July 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 August 15, 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 JULY, 2007:
| STONEMOR OPERATING LLC | ||
| By: | /s/ William R. Shane | |
| William R. Shane, Executive Vice President | ||
