Exhibit 10.2 February 23, 2007 The Talbots, Inc. 1 Talbots Drive Hingham, MA 02043 Attn: Mr. Edward L. Larsen Senior Vice President, Finance Chief Financial Officer and Treasurer Re: Uncommitted Line of Credit -------------------------- Ladies and...Talbots Inc • February 23rd, 2007 • Retail-women's clothing stores
We are pleased to advise you that BANK OF AMERICA, N.A. (the "Lender") has established for THE TALBOTS, INC., a Delaware corporation (the "Borrower"), an uncommitted line of credit with aggregate advances ("Loans") outstanding thereunder not at any time to exceed $5,000,000. The terms and conditions of such discretionary credit facility are as follows:
