AMENDMENT NO. 4 TO OMNIBUS CREDIT AGREEMENT
AMENDMENT
NO. 4 TO OMNIBUS CREDIT AGREEMENT
This
Amendment No. 4 to Omnibus Credit Agreement is dated as of February 27, 2009 by and between
Citibank, N.A., a national banking association, and its successors and assigns
(collectively “Citibank, N.A.”), and The Student Loan Corporation, a corporation
organized under the laws of the state of Delaware (“STU”).
Background
WHEREAS, each of Citibank, N.A. and STU
entered into an Omnibus Credit Agreement dated as of November 30, 2000 and
amended pursuant to an Amendment No. 1 dated as of October 15, 2002, and
Amendment No. 2 dated as of March 5, 2004, and an Amendment No. 3 dated as of
January 20, 2005 (the “Agreement”) pursuant to which Citibank, N.A. made
available to STU various credit facilities.
NOW THEREFORE, in
consideration of the premises, mutual covenants and agreement contained herein
and in the Agreement, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and parties hereto agree as
follows:
AGREEMENTS
1. Any
provision of the Agreement that refers to any borrowing or advance under the
Agreement being due and payable no later than December 31, 2009, including
without limitation Sections 3.d.6, 8, 11, 13 and 15 of the Agreement, is hereby
amended to provide that any such borrowing or advance shall be due and payable
no later than December 31, 2009 or any later date that may be specified in any
promissory note, memorandum of funding, or other document evidencing an
agreement between Citibank, N.A. and STU with respect to that borrowing or
advance.
2. STU
promises to pay to Citibank, N.A., its successors or assigns, any borrowing or
advance under the Agreement in accordance with the terms in any promissory note,
memorandum of funding, or other document evidencing an agreement between
Citibank, N.A. and STU with respect to that borrowing or advance and as further
evidenced by the electronic records all funding transactions between STU
and Citibank, N.A. and denominated as Summit Reports which are prepared
from time to time by the parties.
3. Except
as otherwise modified herein, all terms and conditions of the Agreement shall
remain in full force and effect.
| Citibank, N.A. | |
|
By:
|
/s/ Xxxxxxxx Xxxx |
| Xxxxxxxx Xxxx | |
| The Student Loan Corporation | |
|
By:
|
/s/ Xxxx X. Xxxxxxx |
| Xxxx X. Xxxxxxx | |
