UNITED STATES DEPARTMENT OF THE TREASURY 1500 Pennsylvania Avenue, NW Washington, D.C. 20220 March 31, 2009Securities Purchase Agreement • March 31st, 2009 • Old National Bancorp /In/ • National commercial banks
Reference is made to that certain Letter Agreement incorporating the Securities Purchase Agreement - Standard Terms (the "Securities Purchase Agreement"), dated as of the date set forth on Schedule A hereto, between the United States Department of the Treasury (the "Investor") and the company set forth on Schedule A hereto (the "Company"). Capitalized terms used but not defined herein shall have the meanings assigned to them in the Securities Purchase Agreement. Pursuant to the Securities Purchase Agreement, at the Closing, the Company issued to the Investor the number of shares of the series of its preferred stock set forth on Schedule A hereto (the "Preferred Shares") and a warrant to purchase the number of shares of its common stock set forth on Schedule A hereto (the "Warrant").
As you are aware, Old National Bancorp (the "Company") entered into a Securities Purchase Agreement with the United States Department of Treasury (the "Treasury") on December 12, 2008 that provided for the Company's participation in the Treasury's...Letter Agreement • March 31st, 2009 • Old National Bancorp /In/ • National commercial banks
Effective today, the Company is repaying the Federal Government the financial assistance it received under the CPP. At such time, the Federal Government will only hold warrants to purchase common stock of the Company. Accordingly, the limitations contained in your Letter Agreement are no longer applicable and your Letter Agreement is hereby terminated effective as of March 31, 2009.
