Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Tower Group International, Ltd. | d641470d8k.htm |
Exhibit 10.1
LETTER OF CREDIT FACILITY CANCELLATION LETTER
| To: | Barclays Bank PLC as Agent |
| From: | Tower Insurance Company of New York |
CastlePoint Insurance Company
CastlePoint National Insurance Company
Hermitage Insurance Company
(together the “Companies”)
5 December 2013
Dear Sirs
LETTER OF CREDIT FACILITY AGREEMENT ENTERED INTO BETWEEN (1) TOWER INSURANCE COMPANY OF NEW YORK, (2) CASTLEPOINT INSURANCE COMPANY, (3) CASTLEPOINT NATIONAL INSURANCE COMPANY, (4) HERMITAGE INSURANCE COMPANY (5) BARCLAYS BANK PLC AND BANK OF MONTREAL, LONDON BRANCH AS ISSUING BANKS, AND (6) BARCLAYS BANK PLC AS AGENT AND SECURITY AGENT DATED 11 NOVEMBER 2011 AS AMENDED ON 12 MARCH 2012, 16 JULY 2012, 21 NOVEMBER 2012, AMENDED AND RESTATED ON 7 MARCH 2013 AND AMENDED ON 2 MAY 2013 AND 22 OCTOBER 2013 (THE “FACILITY AGREEMENT”)
We refer to the Facility Agreement. Terms defined in the Facility Agreement have the same meaning when used in this letter.
| 1. | VOLUNTARY CANCELLATION |
The Company hereby gives irrevocable notice to the Agent of the voluntary cancellation of the entirety of the Facility, such cancellation to take effect as of 5 December 2013.
| 2. | CONSENT AND WAIVER OF NOTICE |
By countersigning this letter, the Agent acknowledges the voluntary cancellation of the Facility.
| 3. | MISCELLANEOUS |
| 3.1 | This letter may be executed in counterparts all of which will, when read together, constitute one and the same document. |
| 3.2 | This letter and any non-contractual obligations arising out of or in connection with it shall be governed by English law and the parties submit to the jurisdiction of the English courts in the terms set out in clause 34 (Jurisdiction) of the Facility Agreement. |
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| Yours faithfully | ||
| For and on behalf of | ||
| TOWER INSURANCE COMPANY OF NEW YORK | ||
| By: | /s/ Vito A. Nigro | |
| Name: | Vito A. Nigro | |
| Title: | Managing Vice President and Treasurer | |
| By: | /s/ David T. Uber | |
| Name: | David T. Uber | |
| Title: | VP Finance | |
| For and on behalf of | ||
| CASTLEPOINT INSURANCE COMPANY | ||
| By: | /s/ Vito A. Nigro | |
| Name: | Vito A. Nigro | |
| Title: | Managing Vice President and Treasurer | |
| By: | /s/ David T. Uber | |
| Name: | David T. Uber | |
| Title: | VP Finance | |
| For and on behalf of | ||
| CASTLEPOINT NATIONAL INSURANCE COMPANY | ||
| By: | /s/ Vito A. Nigro | |
| Name: | Vito A. Nigro | |
| Title: | Managing Vice President and Treasurer | |
| By: | /s/ David T. Uber | |
| Name: | David T. Uber | |
| Title: | VP Finance | |
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| For and on behalf of | ||
| HERMITAGE INSURANCE COMPANY | ||
| By: | /s/ Vito A. Nigro | |
| Name: | Vito A. Nigro | |
| Title: | Managing Vice President and Treasurer | |
| By: | /s/ David T. Uber | |
| Name: | David T. Uber | |
| Title: | VP Finance | |
| We agree to the terms of this letter. |
| /s/ Juana Huwaidi |
| for and on behalf of |
| BARCLAYS BANK PLC |
| as Agent (acting on the instructions of the Issuing Banks) |
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