EXHIBIT 4.5
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Morgens, Waterfall, Vintiadis & Company, Inc.
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000
Banyan Strategic Realty Trust
000 Xxxxx Xxxxxx Xxxxx
Xxxxx 0000
Xxxxxxx, XX 00000
Gentlemen:
Reference is hereby made to that certain Convertible Term Loan
Agreement dated October 10, 1997, as three times amended (the "Loan
Agreement"), by and among Banyan Strategic Realty Trust and various
entities listed therein for all of whom Morgens, Waterfall, Vintiadis &
Company, Inc. acts as authorized agent. Initially capitalized terms in
this letter shall have the same meaning given such terms in the Loan
Agreement.
Pursuant to the Third Amendment to the Loan Agreement dated as of
September 13, 1999, the due date for a loan fee originally due on
October 14, 1999 was extended to November 15, 1999. Morgens, Waterfall,
Vintiadis & Company, Inc. desires to again extend such due date.
Accordingly, please be advised that the loan fee described in Section
2.3, which is currently due on November 15, 1999, is not due until December
15, 1999, and shall be calculated in respect to the balance of the loans
outstanding on that date.
We acknowledge adequate consideration for this extension. No other
terms of the Loan Agreement are affected hereby. Please acknowledge your
agreement with the foregoing by executing below.
Very truly yours,
Morgens, Waterfall, Vintiadis & Company, Inc.
By: /s/ XXXXXX X. XXXXXXXX
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Title: Managing Director
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Acknowledged:
Banyan Strategic Realty Trust
By: /s/ XXXXXX X. XXXXXXX
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Title: Vice President
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Date: October 14, 1999
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