EXHIBIT 10.1
[AHP LOGO]
AMERICAN HOME PRODUCTS CORPORATION
FIVE XXXXXXX XXXXX, XXXXXXX, XXX XXXXXX 00000 (973) 660-5402
XXXX X. X'XXXXXX
TREASURER
March 26, 1998
VIA FAX: (000) 000-0000
Xx. Xxxxx Xxxxxxxxx
Managing Director
Chase Securities Inc.
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000-0000
RE: - $2,500,000,000 A Credit Agreement among American Home Products
Corporation, AC Acquisition Holding Company, X.X. Xxxxxx Company,
Incorporated, The Lender Parties Hereto and The Chase Manhattan Bank,
as Agent, Dated as of September 9, 1994, as amended
- $2,500,000,000 B Credit Agreement among American Home Products
Corporation, AC Acquisition Holding Company, X.X. Xxxxxx Company,
Incorporated, The Lender Parties Hereto and The Chase Manhattan Bank,
as Agent, Dated as of September 9, 1994, as amended
Dear Xx. Xxxxxxxxx:
In accordance with Section 2.5(a) of the referenced Credit Agreements, please
accept this letter as confirmation of American Home Products Corporation's
("AHP") decision to terminate the $2.5 billion, 364-day, A Credit Agreement in
its entirety and reduce the $2.5 billion, 5-year, B Credit Agreement to $2.0
billion, effective April 1, 1998. Within the B Credit Agreement, please reduce
all of the banks' current commitment amounts by 20% in order to arrive at a
total commitment of $2.0 billion.
Please forward a confirmation of the revisions to the Credit Agreements to Mr.
Xxxxxxx Xxxxxx at facsimile number (000) 000-0000 as soon as possible.
Very truly yours,
/s/ Xxxx X. X'Xxxxxx
Xxxx X. X'Xxxxxx
Treasurer
cc: X. Xxxxxx (Chase - Agent Services)
X. X. Xxxxx
X. X. Xxxxxx
X. X. Xxxxx
