April 10, 2008 VIA FACSIMILE
Exhibit 99.1
April 10, 2008
(000) 000-0000
Xxxxx Fargo Bank, National Association
Xxxxx Fargo Business Credit
Attn: Xxxxxx Xxxxxxx
0000 Xxxxxxxx, 0xx Xxxxx
Xxxxxx, XX 00000
Re: |
Agreement dated October 1, 2007 by and among Xxxxx Fargo Bank, National Association acting through Xxxxx Fargo Business Credit operating Division (“WFBC”), Gateway, Inc., Gateway Companies, Inc., and MPC-Pro, LLC, a wholly owned subsidiary of MPC Corporation (the “Agreement”) |
Dear Xx. Xxxxxxx:
This letter is to confirm that the requirement under paragraph 1(b) of the Agreement to maintain a controlled collateral account in the amount of $1,500,000 is eliminated.
Additionally, MPC and Gateway have been handling issues with regard to receipt of mis-directed funds between themselves, and do not require WFBC to hold Gateway funds in trust. Accordingly, Section 3 of the Agreement is terminated.
Very truly yours,
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Gateway Companies, Inc. |
By: |
/s/ Xxxxxx Xxxx |
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Gateway, Inc. |
By: |
/s/ Xxxx Xxxx |
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MPC-Pro, LLC |
By: |
/s/ Xxxxxx Xxxx |
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