EXHIBIT 4.15
BANK of BERMUDA
Bank of Bermuda
(Isle of Man) Limited
P.O. Box 00
00/00/ Xxxx Xxxxxx,
Xxxxxxx,
Xxxx xx Xxx, XX00 0XX
British Isles
Telephone (00) 0000 000000
Fax (00) 0000 00000000
9th March, 2001
The Directors,
Trade Media Holdings Limited,
Isle of Man Representative Office,
Salisbury House,
Xxxxxxx,
Isle of Man.
Dear Sirs:
This letter confirms that the Bank of Bermuda (Isle of Man) Limited ("the Bank")
is prepared to extend the existing loan facility of U.S. $25,000,000 (twenty
five million U.S. Dollars) extended to Trade Media Holdings Limited ("the
Borrower") subject to the terms and conditions originally set forth in the
Bank's facility letter of 13th March 2000.
The loan and all unpaid interest, fees and other sums payable under this
facility shall be repaid in full not later than the 12th March 2002, pending a
full review and possible renewal of the facility for a further twelve month
term.
The Bank will incur no obligations under this letter until it has received all
of the following:
a) return of the enclosed copy of this letter duly signed by the Borrower
as acceptance of the terms and conditions of this letter.
b) a copy (certified as true by a Director or the Secretary of the
Borrower) of a Resolution of the Board of Directors of the Borrower authorising
such acceptance and designating the person(s) authorised to sign the acceptance
and confirming that all corporate action necessary to accept the terms of this
letter have been taken.
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c) payment of an Annual Fee of(pound)1,000 in respect of this extension.
If the terms and conditions of this letter are acceptable, please sign and date
the form of acceptance on the enclosed copy of this letter and return it to the
Bank together with the items mentioned above.
Yours faithfully,
/s/ Xxxx Xxxxxxx
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Xxxx Xxxxxxx
Credit Manager
