Re: Amended and Restated Revolving Credit Agreement dated as of March 29, 2007 among Sterling Chemicals, Inc. (“Sterling”), Sterling Chemicals Energy, Inc., The CIT Group/Business Credit, Inc. (“CIT”) and Wachovia Bank, National Association (as...
Exhibit 10.1 (b)
December 10, 2009
Via Email
Xx. Xxx Xxxxxxxx
Two Lincoln Centre
The CIT Group/Business Credit, Inc.
0000 XXX Xxxxxxx, Xxxxx 000
Xxxxxx, XX 00000
Two Lincoln Centre
The CIT Group/Business Credit, Inc.
0000 XXX Xxxxxxx, Xxxxx 000
Xxxxxx, XX 00000
Re:
|
Amended and Restated Revolving Credit Agreement dated as of March 29, 2007 among Sterling Chemicals, Inc. (“Sterling”), Sterling Chemicals Energy, Inc., The CIT Group/Business Credit, Inc. (“CIT”) and Wachovia Bank, National Association (as amended, the “Credit Agreement”) |
Dear Xxx:
As discussed, we recently determined that it is no longer beneficial for Sterling to continue
the Credit Agreement due to low working capital requirements of its current businesses and its
significant cash position. Accordingly, please accept this letter as notice of Sterling’s election
to terminate the Agreement pursuant to Section 2.2.3 of the Agreement effective as of January 24,
2010.
We greatly appreciate the support CIT has provided Sterling over the past ten years. Please
contact me directly at 000-000-0000 if you have any questions.
Sincerely,
Sterling Chemicals, Inc.
/s/ Xxxxx Xxxxx
Xxxxx Xxxxx
Vice President, Treasurer
Vice President, Treasurer
cc:
|
Xxxxxxx X. Xxxx | |
| Wachovia Bank, National Association | ||
| 0000 Xxxx Xxxxxx, Xxxxx 0000 | ||
| Xxxxxx, XX 00000 | ||
| Attn: Xxx Xxxxx | ||
| xxx.xxxxx@xxxxxxxx.xxx |
