Notice of Commitment Reduction under Amended & Restated Omnibus Credit Agreement between The Student Loan Corporation and Citibank, N.A.

Contract Categories: Business Finance › Credit Agreements
Summary

The Student Loan Corporation notifies Citibank, N.A. that, effective July 8, 2010, the lending commitment for Private Loan Funding under their existing Amended & Restated Omnibus Credit Agreement will be reduced to $2 billion. This notice is issued in accordance with the terms of the agreement, which involves The Student Loan Corporation as borrower and Citibank, N.A. as lender and trustee. The change affects the amount of credit available but does not otherwise alter the agreement's terms.

Read More Arrow
EX-10.10.2 6 exhibit10_102.htm EXHIBIT 10.10.2 FOR FORM 10Q exhibit10_102.htm



July 7, 2010


Citibank, N.A.
750 Washington Boulevard (8th Floor)
Stamford, CT ###-###-####
Attention: Gina Losito
***@***

Ladies and Gentlemen:

This letter shall constitute notice pursuant to Section 2.4(a) of the Amended & Restated Omnibus Credit Agreement, dated as of January 29, 2010 (as amended by Amendment No.1 dated as of February 11, 2010, and as the same may be further amended, supplemented, restated or otherwise modified from time to time, the “Agreement”), by and among (i) The Student Loan Corporation, as borrower, (ii) Citibank, N.A., as lender, (iii) Citibank, N.A., not in its individual capacity but solely in its separate capacity as the Trustee under the Trust Agreement referred to in the Agreement, solely for purposes of the sections of the Agreement specified therein, and (iv) the Non-Securitization Subsidiaries that become parties to the Agreement from time to time pursuant to Joind er Agreements, that the Commitment with respect to Private Loan Funding shall be reduced to $2,000,000,000 effective as of  July 8, 2010.
 
Capitalized terms used and not defined herein have the meanings set forth or incorporated by reference in the Agreement.
 

 
THE STUDENT LOAN CORPORATION
   
By:
/s/ Joseph P. Guage
  Name: Joseph P. Guage 
  Title: Chief Financial Officer 
   
          
cc:           Citibank, N.A.
750 Washington Boulevard (8th Floor)
Stamford, CT ###-###-####
Attention: Bob Kohl
***@***

Citibank, N.A.
750 Washington Boulevard (8th Floor)
Stamford, CT ###-###-####
Attention: Madelyn Arroyo
***@***

Citibank, N.A.
388 Greenwich Street, 14th Floor
New York, NY 10013
Attention: SLC Trust – Credit Agreement