October 20, 2010 Mr. Brian D. Corum Senior Vice President BANK OF AMERICA, N.A.
EXHIBIT 99.1
October 20, 2010
Xx. Xxxxx X. Xxxxx
Senior Vice President
BANK OF AMERICA, N.A.
000 Xxxx Xxxxxx, 00xx Xxxxx
Xxxxxx, XX 00000
Xx. Xxxxxx Xxxx
Credit Services
BANK OF AMERICA, N.A.
Building B
0000 Xxxxxxx Xxxx
Xxxxxxx, XX 00000-0000
Via Facsimile (000) 000-0000 and (000) 000-0000
Dear Gentlemen:
Please refer to (i) our prior letter dated October 18, 2010 (the “Instruction Letter”) and (ii) that certain Letter Loan Agreement dated as of April 15, 2008, between Tracinda Corporation, a Nevada corporation (the “Borrower”) and Bank of America, N.A., (“Lender”) (as extended, renewed, amended or restated from time to time, the “Letter Agreement;”). Borrower hereby rescinds our prior instructions that were set forth in the Instruction Letter and gives you notice pursuant to Paragraph 1(g)(vii) of the Letter Agreement to irrevocably reduce the Commitment to $25,000,000.00 effective October 22, 2010. All terms and conditions of the Letter Agreement, including the Pledge Agreement, shall remain in effect.
Sincerely,
| /s/ Xxxxxxx Xxxxxxxx |
| Xxxxxxx Xxxxxxxx |
| Secretary/Treasurer |
Agreed and Accepted:
BANK OF AMERICA, N.A.
| By: | /s/ Xxxxx X. Xxxxx | |
| Xxxxx X. Xxxxx | ||
| Senior Vice President |
