EXHIBIT 10.39
BANK OF AMERICA, N.A.
November 12, 2003
Callaway Golf Company
0000 Xxxxxxxxxx Xxxx
Xxxxxxxx, XX 00000-0000
Re: Credit Agreement dated as of June 16, 2003 (the "Bi-Lateral Credit
Agreement") between Callaway Golf Company (the "Borrower") and Bank
of America, N.A. (the "Lender")
Ladies and Gentlemen:
At the request of the Borrower indicated by its signature below, the
Lender acknowledges that its Commitment under the Bi-Lateral Agreement was
terminated on November 10, 2003 (prior notice of such request being waived by
the Lender) concurrently with the effectiveness of the Credit Agreement dated as
of November 10, 2003 among the Borrower, Bank of America, N.A., as Agent, L/C
Issuer and Swing Line Lender and the Lenders party thereto.
Please execute and return a copy of this letter to the undersigned by
telefacsimile transmission to (000) 000-0000.
Sincerely yours,
BANK OF AMERICA, N.A.
By /s/ Xxxxx X. Xxxxxxx
-----------------------------
Xxxxx X. Xxxxxxx
Senior Vice President
Confirmed and agreed:
CALLAWAY GOLF COMPANY
By: /s/ Xxxxxxx X. Holiday
-----------------------------------
Name: Xxxxxxx X. Holiday
Title: Sr. Exec. VP, CFO
