Exhibit 99.2
July 13, 2004
Xx. Xxxxxx Xxxxxx
Chief Executive Officer
NAVISITE, INC.
000 Xxxxxxxxx Xxxx
Xxxxxxx, XX 00000
RE: EXTENSION OF TERM
Dear Sir or Madam:
In connection with that certain Loan and Security Agreement (the
"Agreement"), dated as of January 29, 2003 between Atlantic Investors LLC
("Lender") and NaviSite, Inc. ("Borrower"), this letter serves to notify
Borrower that any and all Credit Advances under the Agreement made prior to, or
following the date of this letter shall be due on or before the earlier of (i)
November 1, 2004 or (ii) five (5) business days following the closing of a
financing transaction or disposition pursuant to which the Borrower receives
net proceeds of $13 million [after satisfying the mandatory prepayment
obligation under those certain notes due to Surebridge, Inc.].
If you have any questions, please feel free to call contact me.
Sincerely yours,
ATLANTIC INVESTORS, LLC
BY: UNICORN WORLDWIDE HOLDINGS
LIMITED, A MANAGING MEMBER
By: /s/ XX XxXxxxx
-----------------------------
Name: XX XxXxxxx
Title: Director
