FF&E Facility Commitment Letter among Deutsche Bank Trust Company Americas, Bank of America, N.A., Bear Stearns Corporate Lending, Inc., and Wynn Las Vegas, LLC (October 3, 2002)
Deutsche Bank Trust Company Americas, Bank of America, N.A., and Bear Stearns Corporate Lending, Inc. each commit $20 million as lenders to a $178.5 million FF&E (Furniture, Fixtures & Equipment) Facility for Wynn Las Vegas, LLC. The commitments are subject to negotiation of final documents, terms in a prior offering memorandum, and a side letter. Each bank's commitment is valid for 90 days but may be terminated if there is a significant negative change in the project or company. Each bank acts independently and is not responsible for the others' actions.
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Exhibit 10.67
DEUTSCHE BANK TRUST COMPANY AMERICAS
BANK OF AMERICA, N.A.
BEAR STEARNS CORPORATE LENDING, INC.
October 3, 2002
FF&E FACILITY COMMITMENT LETTER
Bank of America, National Association
555 California Street, 4th Floor
Mail Code CA5-705-04-01
San Francisco, CA 94194
Attention: | Dave Buccolo | |
Fax: | (415) 646-8127 |
Re: $178.5 million FF&E Facility for Wynn Las Vegas, LLC
Mr. Buccalo:
Each of Deutsche Bank Trust Company Americas ("DB"), Bank of America, N.A. ("BofA") and Bear Stearns Corporate Lending, Inc. ("BSCL" and, together with DB and BofA, the "Banks"), severally and not jointly, is pleased to confirm its individual commitment of $20,000,000.00 to participate as a "Lender" in the FF&E Facility, subject to (i) the terms and conditions of this letter, (ii) the negotiation and execution of satisfactory documentation, (iii) the terms and conditions outlined in the Summary of Terms included in the Confidential Offering Memorandum dated July 2002 and (iv) the terms and conditions of the side letter from the Banks to you, dated as of the date hereof.
Each Bank's commitment remains valid for 90 days from the date hereof; provided however that each Bank reserves the right to terminate its FF&E commitment if there is a material adverse change (financial or otherwise) to or involving the Le Reve project or the condition of Wynn Las Vegas, LLC or any Guarantor (as defined in the Summary) after the date hereof.
No Bank shall be responsible for the actions or inactions of any other Bank hereunder.
[Signature page follows]
Very truly yours, | ||||
DEUTSCHE BANK TRUST COMPANY AMERICAS | ||||
By: | /s/ Alexander Johnson | |||
Name: | Alexander Johnson | |||
Title: | Managing Director | |||
BANK OF AMERICA, N.A. | ||||
By: | /s/ Scott L. Faber | |||
Name: | Scott L. Faber | |||
Title: | Managing Director | |||
BEAR STEARNS CORPORATE LENDING INC. | ||||
By: | /s/ Keith C. Barnish | |||
Name: | Keith C. Barnish | |||
Title: | Executive Vice President | |||
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