IMAGINE INVESTMENTS, INC. SUITE 1901 DALLAS, TEXAS 75206Letter Agreement • February 9th, 2004 • Imagine Investments Inc • Retail-lumber & other building materials dealers • Illinois
This letter agreement amends and restates the letter agreement dated October 1, 2003 between Imagine Investments, Inc. (“Imagine”) and Wickes Inc. (“Wickes”) regarding the obligation of Imagine to provide up to $10.5 million of financing to Wickes. The parties have determined to modify the financing proposal set forth in the October 1, 2003 letter from Imagine to Wickes (the “Original Letter”) to a loan participation arrangement pursuant to which Imagine will purchase a 100% participation interest from Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services, Inc. (“Merrill”) in an additional term loan of up to $10.5 million (the “Additional Term Loan”) to be made by Merrill, as a lender, to Wickes under the terms of the Credit Agreement dated February 26, 2003 (as heretofore or hereafter amended, modified and supplemented from time to time, the “Credit Agreement”). The terms and conditions of this letter agreement govern Imagine’s obligation to purchase a partici
