Exhibit 10.61
January 16, 2004
Xx. Xxxxxx Xxxxxx
Chief Executive Officer
NAVISITE, INC.
000 Xxxxxxxxx Xxxx
Xxxxxxx, XX 00000
Re: Extension of Term
In connection with that certain Loan and Security Agreement (the
"Agreement"), dated as of January 29, 2003 between Atlantic Investors, LLC
("Lender") and NaviSite, Inc. ("Borrower"), this letter serves to notify
Borrower that any and all Credit Advances under the Agreement made prior to, or
following the date of this letter shall be due on or before the earlier of (i)
August 1, 2004 or (ii) five (5) business days following the closing of a
financing transaction or disposition pursuant to which the Borrower receives
gross proceeds of $13 million.
If you have any questions, please feel free to contact me.
Sincerely yours,
ATLANTIC INVESTORS, LLC
By: Unicorn Worldwide Holdings
Limited, a managing member
By: /s/ Xxxxx X. Xxxxxx
Name: Xxxxx X. Xxxxxx
Title: Director
