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Document Preview Acknowledgement and Extension Agreement |
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Title: |
Acknowledgement and Extension Agreement |
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Entities: |
Banc One Capital Markets, Inc.; Bank of Nova Scotia; Bank One, NA; Barclays Bank plc; CIBC World Markets Corp.; Citibank, NA; Fleet National Bank; National City Bank; Royal Bank of Canada; Salomon Smith Barney Inc.; Sears, Roebuck & Co.; Smith Barney Inc.; U.S. Bank, NA; Wachovia Bank, NA; Wells Fargo Bank, NA; Bank of America, NA; Bank of New York; Keybank NA; UBS AG |
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Date: |
2003 |
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Size: |
Preview shows 2KB of 11KB total |
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Price: |
$30 |
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ID: |
#155023 |
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ACKNOWLEDGEMENT AND EXTENSION AGREEMENT
Dated as of August 19, 2003
To the Lenders parties to
The Credit Agreement
Referred to below and
Citibank N.A., as Agent
Ladies and Gentlemen:
Reference is made to the 364-Day Credit Agreement, dated as of February 24, 2003 (the Credit Agreement; capitalized terms not otherwise defined in this Acknowledgement and Extension Agreement have the same meanings as specified in the Credit Agreement), among Sears Roebuck Acceptance Corp. (the Borrower), the lenders parties thereto, Bank One, NA, as syndication agent, Barclays Bank PLC and Bank of America, N.A., as documentation agents, Salomon Smith Barney Inc. and Banc One Capital Markets, Inc., as joint lead arrangers and joint bookrunners, and Citibank, N.A., as administrative agent.
Sears, Roebuck and Co. has announced that it has contracted to sell its Credit and Financial Products business unit (including the assets associated with such business unit) to Citigroup (or any of its subsidiaries) (the Sale). The Borrower has determined that (i) as a result of the Sale, the aggregate Commitments under the Credit Agreement will be more than will be required for the ongoing financing needs of the Borrower and (ii) it is advisable to request that, effective upon consummation of the Sale, the Termination Date be extended to May 24, 2004.
Subject to the condition that the Required Lenders shall have executed and returned this Acknowledgement and Extension Agreement to the Agent as provided herein (the Agreement Effectiveness), the Lenders, Borrower and Citibank N.A., as Agent, hereby agree as follows:
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