HANDLEMAN COMPANY 500 Kirts Blvd. Troy, Michigan 48084
Exhibit 10.2
HANDLEMAN COMPANY
000 Xxxxx Xxxx.
Xxxx, Xxxxxxxx 00000
000 Xxxxx Xxxx.
Xxxx, Xxxxxxxx 00000
October 30, 0000
Xxxxxx Xxxxx Finance, LLC
Two Xxxxxxxxx Xxxxx, 0xx Xxxxx
Xxxxxxxxx, XX 00000
Two Xxxxxxxxx Xxxxx, 0xx Xxxxx
Xxxxxxxxx, XX 00000
Re: Termination of Revolving Commitments
Ladies and Gentlemen:
Reference hereby is made to the Credit and Guaranty Agreement, dated as of April 30, 2007 (as
amended, supplemented or otherwise modified to date, the “Credit Agreement”), by and among
Xxxxxxxxx Company, a Michigan corporation (“Holdings”), Xxxxxxxxx Services Company, a
Michigan corporation (“Xxxxxxxxx Services”), certain subsidiaries of Holdings identified on
the signature page hereto as “Borrowers” (such Subsidiaries, together with Xxxxxxxxx Services, are
referred to individually as a “Borrower” and collectively, jointly and severally, as
“Borrowers”), certain subsidiaries of Holdings identified on the signature page hereto as
“Guarantors” (such subsidiaries, together with Holdings, are referred to individually as a
“Guarantor” and collectively, jointly and severally, as “Guarantors”), the lenders
party hereto from time to time (“Lenders”), and Silver Point Finance, LLC (“Silver
Point”), as administrative agent for Lenders (in such capacity, together with its successors
and assigns in such capacity, the “Administrative Agent”) and as collateral agent for
Lenders (in such capacity, together with its successors and assigns in such capacity, the
“Collateral Agent” and together with Administrative Agent, each an “Agent” and
collectively the “Agents”). Capitalized terms used but not defined herein have the
meanings ascribed thereto in the Credit Agreement.
Pursuant to Section 2.12(b) of the Credit Agreement, the Borrowers hereby notify the
Administrative Agent that the Borrowers are hereby exercising their right to terminate the
Revolving Commitments, in whole, effective on October 31, 2008.
[signature page follows]
Very truly yours, XXXXXXXXX CATEGORY MANAGEMENT COMPANY |
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XXXXXXXXX SERVICES COMPANY |
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XXXXXXXXX REAL ESTATE LLC |
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ARTIST TO MARKET DISTRIBUTION LLC |
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REPS, L.L.C. |
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