Contract
Exhibit 10.42
![(CUMMINS LOGO)](https://www.sec.gov/Archives/edgar/data/52617/000095012309029850/c52710c5271000.gif)
July 24, 2009
Mr. Xxxxxxx Xxxxxx
Chairman and Chief Executive Officer
Xxxxx Financial Corporation
000 Xxxxxxxxxx Xxxxxx
Xxxxxxxx, Xxxxxxx 00000
Chairman and Chief Executive Officer
Xxxxx Financial Corporation
000 Xxxxxxxxxx Xxxxxx
Xxxxxxxx, Xxxxxxx 00000
Re: Extension of Standby Purchase Commitment and Extension of Indication of Interest
Dear Xx. Xxxxxx:
Reference is made to (i) the Standby Purchase Agreement dated as of October 13, 2008 (as
amended and modified, the “Standby Purchase Agreement”), by and between Xxxxx Financial
Corporation (“IFC”) and Cummins Inc. (“Cummins”) and (ii) the Indication of Interest letter
dated March 23, 2009 (the “Indication of Interest”), from Cummins to IFC.
By signing this letter in the space provided below, IFC and Cummins agree that the reference
to “July 31, 2009” in Section 12(a)(i) of the Standby Purchase Agreement is hereby changed to
“December 31, 2009”. Except for this date change, the Standby Purchase Agreement remains unmodified
and in full force and effect. Please confirm that the foregoing correctly sets forth our agreement
by signing this letter in the space provided below and returning a copy to Xxxxx X. Xxxx, Vice
President, General Counsel and Corporate Secretary, Cummins Inc., Xxx Xxxxxxxx Xxxxxx, Xxxxx 0000,
Xxxxxxxxxxxx, Xxxxxxx, 00000.
Furthermore, Cummins hereby confirms the terms of its Indication of Interest and extends the
condition regarding any obligation to purchase Common Shares as part of the Recapitalization Plan
(as such terms are defined in the Indication of Interest) through December 31, 2009.
Sincerely, CUMMINS INC. |
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By: | /s/ Xxxxx X. Xxxx | |||
Name: | Xxxxx X. Xxxx | |||
Title: | Vice President — General | |||
Counsel and Corporate Secretary | ||||
![(CUMMINS LETTERHEAD)](https://www.sec.gov/Archives/edgar/data/52617/000095012309029850/c52710c5271001.gif)
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Page 2 July 24, 2009 |
Agreed as of July 31, 2009: XXXXX FINANCIAL CORPORATION |
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By: | /s/ Xxxxxxx X. Xxxxxxxx | ||||
Name: | Xxxxxxx X. Xxxxxxxx | ||||
Title: | Chief Financial Officer | ||||