Attached files
Exhibit 10.3
January 5, 2010
JPMorgan Chase Bank, N.A.
Loan and Agency Services Group
1111 Fannin, 10th Floor
Houston, Texas 77002
Attention: Ms. Dakisha Allen (Telecopy No. (713) 750-2666)
JPMorgan Chase Bank, N.A.
270 Park Avenue
New York, New York 10017
Attention: Mr. Barry Bergman (Telecopy No. (212) 270-6637)
With a copy to:
vera.x.kostic@jpmchase.com
Re: | Irrevocable Standby Letter of Credit - S-248514 |
USD $12,977,105.72
Acct.: Blockbuster Inc. (Blockbuster)
Dear Ms. Allen and Mr. Bergman:
We hereby request that you cancel the letter of credit referenced above.
In addition, pursuant to Section 2.06(k) of that certain Credit Agreement dated as of August 20, 2004, as amended and restated as of April 2, 2009, and as further amended as of October 1, 2009, among Blockbuster Inc., as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders and other agents parties thereto (the Credit Agreement), enclosed please find an Officers Certificate dated as of January 5, 2010 and executed by a senior officer of Viacom Inc., evidencing Viacom Inc.s consent to the reduction of the Viacom Reserve Amount (as defined in the Credit Agreement) from $21,628,509.54 to $0. We hereby request that you reduce the Viacom Reserve Amount to $0 effective three (3) business days after the date hereof, which is January 8, 2010.
Please dont hesitate to contact the undersigned with any questions regarding this matter.
Sincerely, |
/s/ Russell Birk |
Russell Birk |
Vice President & Treasurer |
Blockbuster Inc. |
Acknowledged and agreed for purposes
of the cancellation of letter of credit # S-248514:
VIACOM INC. | ||
By: | /s/ Keyes Hill-Edgar | |
Name: Keyes Hill-Edgar | ||
Title: Senior Vice President |