EXHIBIT 10.92
[NELNET LETTERHEAD]
June 25, 2003
Societe Generale
000 Xxxx Xxxxxxx Xxxxxx
Xxxxx 0000
Xxxxxxx, XX 00000
Attn: Securitization
Ladies and Gentlemen:
Pursuant to Section 2.03 of the Warehouse Note
Purchase and Security Agreement, dated as of May 1,2003 (the
"Warehouse Note Purchase and Security Agreement"), among
Nelnet Education Loan Funding Inc. (the "Borrower"}, Xxxxx
Fargo Bank Minnesota, National Association, as trustee, Xxxxx
Fargo Bank Minnesota, National Association, as eligible lender
trustee, XX XXXX Trust, as a conduit lender, Bank of America,
N.A., as a facility agent and an alternate lender, Gemini
Securitization Corp., as a conduit lender, Deutsche Bank AG,
New York Branch, as a facility agent and an alternate lender,
Xxxxxx Capital Corporation, as a conduit leader, Societe
Generale, as a facility agent and an alternate lender, and
Bank of America, N.A., as administrative agent, the Borrower
hereby request that the Societe Generale Facility Group
increase its Commitment under the Warehouse Note Purchase and
Security Agreement from $250,000,000 to $350,000,000 effective
on July 21, 2003. Please acknowledge your acceptance, as the
Societe Generale Facility Agent on behalf of the Societe
Generale Facility Group, of this increase in the Commitment of
Societe Generale, as Alternate Lender, for the Societe
Generale Facility Group by executing and returning this letter
to us. Your execution of this letter shall constitute the
written ovidence that the Societe Generale Facility Group has
agreed to increase its Commitment pursuant to Section 2.03 of
the Warehouse Note Purchase and Security Agreement.
On the effective date of suck increase, being July
21, 2003, the Borrower will provide Societe Generale, as the
Societe Generale Facility Agent, with a replacement Senior
Note in the maximum principal amount of $332,500,000 and a
replacement Subordinate Note in the maximum principal amount
of $17,500,000 in exchange for the existing Senior Note and
Subordinate Note issued to the Societe Generale Facility
Group.
[NELNET LOGO]
Capitalized terms used in this letter and not defined
herein shall have the meanings assigned to such terms in the
Warehouse Note Purchase and Security Agreement.
Very truly yours,
NELNET EDUCATION LOAN FUNDING,
INC.
By /s/ Xxxxx Xxxxxx
----------------------------
Title: President
ACCEPTED AND AGREED TO:
SOCIETE GENERALE,
as Societe Generale Facility Agent
By /s/ Xxxx Xxxxxxxxx
----------------------------------------
Title: Director
cc: Xxxxx Fargo Bank Minnesota, National Association.
6th and Marquette Avenue
Minneapolis, Minnesota 55479-0069
Attn: Corporate Trust Department
Societe Generale
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxxx
6
