Termination Notice of Existing Credit Facility by Western Digital Technologies, Inc. to Goldman Sachs and JPMorgan Chase
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Summary
Western Digital Technologies, Inc. notifies Goldman Sachs Credit Partners (agent for the existing $1.25 billion credit facility) and JPMorgan Chase Bank (agent for a new credit facility) that it intends to terminate its current credit agreement with Goldman Sachs. This termination and full repayment of all amounts owed will occur at the same time as the new credit facility with JPMorgan Chase becomes effective, expected around February 11, 2008. The notice fulfills the company's obligations under the existing agreement to provide advance notice of termination.
EX-10.2 3 a37960exv10w2.htm EXHIBIT 10.2 exv10w2
EXHIBIT 10.2
February 7, 2008
| Re: | Termination of the Existing Facility |
Goldman Sachs Credit Partners L.P.,
as Agent under the Existing Facility
described below (the “Existing Facility Agent”)
as Agent under the Existing Facility
described below (the “Existing Facility Agent”)
JPMorgan Chase Bank, N.A.,
as Agent under the New Credit
Facility described below (the “New Facility Agent”)
Ladies and Gentlemen:
as Agent under the New Credit
Facility described below (the “New Facility Agent”)
Ladies and Gentlemen:
Reference is made to the $1,250,000,000 Credit Agreement, dated as of August 30, 2007, among Western Digital Technologies, Inc. (the “Company”), the lenders, agents and arrangers from time to time party thereto and Goldman Sachs Credit Partners L.P., as administrative agent (the “Existing Facility”).
The Company hereby advises the New Facility Agent and the Existing Facility Agent that the Company expects to establish and cause to become effective on or about February 11, 2008 a new credit facility with JPMorgan Chase Bank, N.A. as administrative agent (the “New Credit Facility”), the effectiveness of which is conditioned upon the repayment of the loans and the termination of the commitments under the Existing Facility.
Pursuant to Sections 2.04 and 2.09 of the Existing Facility, the Company hereby gives the Existing Facility Agent notice that, concurrently with, and conditioned upon, the effectiveness of the New Credit Facility, the commitments under the Existing Facility shall be terminated and all amounts owing by the Company under the Existing Facility shall be paid in full.
[signature follows]
Sincerely,
| WESTERN DIGITAL TECHNOLOGIES, INC. | ||||
| By: | /s/ Timothy M. Leyden | |||
| Name: | Timothy M. Leyden | |||
| Title: | Executive V.P. and CFO | |||
