AMENDMENT NO. 1 TO LOAN AGREEMENT
EXHIBIT
(H)(28)
AMENDMENT
NO. 1
TO
This AMENDMENT No. 1 to Loan Agreement
(the “Amendment”) dated
as of October 14, 2008 to the Loan Agreement dated as of April 25,
2007, (the “Agreement”), among U.S. Bank
National Association ND (“Borrower”), a national banking
association; Xxxxxxxx Xxxxx Funds, Inc., (“Lender”), an unaffiliated
registered investment company; and U.S. Bank National Association (“Lender’s Agent”), a
national banking association.
WITNESSETH:
WHEREAS, the parties hereto desire to
amend certain terms of the Agreement.
NOW, THEREFORE, the parties hereto
agree as follows:
Section
1. The first paragraph of
Section III of the Agreement is amended and restated in its entirety as
follows:
“III. Interest on
Loans. While any loan hereunder is outstanding, it will bear
interest at an annual rate equal to the Federal Funds Target rate as reported on
Bloomberg Screen FDTR page using keystrokes “FDTR <INDEX> HP <GO>”,
for the applicable date, or any successor service to Bloomberg, or on any other
page as may replace the applicable page on that service. The interest
rate will be set or reset every Tuesday as of 11:00 a.m. New York time.
In the event Tuesday is a
non-business day in New York, the rate will be set or reset, as the case may be,
on the next New York business day that rates are quoted. That
rate will apply to all loans outstanding hereunder until that rate is reset as
provided above. Lender’s Agent will give Borrower and Lender prompt
notice by telephone of any changes in the applicable rate.”
Section
2. This Amendment,
together with the Agreement (and the related demand note referenced therein),
constitutes the final, complete and exclusive agreement between the parties
pertaining to the subject matter hereof and supersedes any and all prior and
contemporaneous understandings or agreements of the parties. Except
as expressly set forth herein, the terms and conditions of the Agreement shall
remain unmodified and in full force and effect.
IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written.
BORROWER:
U.S. BANK NATIONAL ASSOCIATION
ND
By:
_________________________
Name: Xxxx X.
Xxxxx
Title: Vice President,
Funding and Deriviatives
LENDER:
Xxxxxxxx Xxxxx Funds,
Inc.
By:
_________________________
Name: Xxxx X.
Xxxxxxxx
Title: Chief Executive
Officer
LENDER’S AGENT:
U.S. BANK NATIONAL
ASSOCIATION
By:
_________________________
Name: Xxx X.
Xxxxxxx
Title: Executive
Vice President
