Confirmation of Swap Transaction THIS LETTER AGREEMENT SHOULD BE REVIEWED, EXECUTED BY AN AUTHORIZED PERSON(S), AND RETURNED IMMEDIATELY VIA FAX TO 404-926-5827 OR 404-926-5826 (PLEASE DIRECT ANY QUESTIONS TO FARAZ ANSARI AT 404-926-5819.)
Exhibit 10.1
SUNTRUST
0000 Xxxxxxxxx Xx, XX Xxxxxx Xxxx
0000 Xxxxxxx, Xxxxxxx 00000
0000 Xxxxxxx, Xxxxxxx 00000
July 22, 2009
Confirmation of Swap Transaction
THIS LETTER AGREEMENT SHOULD BE REVIEWED, EXECUTED BY AN AUTHORIZED
PERSON(S), AND RETURNED IMMEDIATELY VIA FAX TO 000-000-0000 OR 000-000-0000
PERSON(S), AND RETURNED IMMEDIATELY VIA FAX TO 000-000-0000 OR 000-000-0000
(PLEASE DIRECT ANY QUESTIONS TO XXXXX XXXXXX AT 000-000-0000.)
Xxxxx Xxxxxxxx
Manager, Treasury
Xxxxxx Express Corp.
00 Xxxxxxx Xxxxxx
Xxxxx Xxxxxxxx, Xxxxx 04106
Manager, Treasury
Xxxxxx Express Corp.
00 Xxxxxxx Xxxxxx
Xxxxx Xxxxxxxx, Xxxxx 04106
REF: 138258
The purpose of this communication is to set forth the terms and conditions of the Swap
Transaction entered into between SunTrust Bank (“SunTrust”) and Xxxxxx Express Corp.
(“Counterparty”) on the Trade Date specified below. This communication constitutes a
“Confirmation” as referred to in the Agreement specified below.
The definitions and provisions contained in the 2006 Definitions, as published by the
International Swaps and Derivatives Association, Inc. (the “Definitions”), are incorporated into
this Confirmation. In the event of any inconsistency between the Definitions and this
Confirmation, this Confirmation will govern. This Confirmation supplements, forms a part of, and
is subject to, the ISDA Master Agreement between SunTrust and the Counterparty, dated as of April
5, 2005, as amended and supplemented from time to time (the “Agreement”). All provisions
contained in, or incorporated by reference into, the Agreement will govern this Confirmation
except as expressly modified below.
1. The terms of the particular Swap Transaction to which this Confirmation relates are as follows:
Notional Amount: Trade Date: Effective Date: Termination Date: Business Days: Calculation Agent: |
USD 50,000,000.00 July 21, 2009 July 22, 2009 July 22, 2011, with adjustment in accordance with the Modified Following Business Day Convention London, New York SunTrust Bank |
Fixed Amounts:
Fixed Rate Payer: |
Counterparty | |
Fixed Rate Payer Payment Dates:
|
The 22nd day of each Month, beginning Aug 24, 2009, through and including the Termination Date, subject to adjustment in accordance with the Modified Following Business Day convention. | |
Fixed Rate: |
1.35000 % per annum | |
Fixed Rate Day Count Fraction:
|
Actual/360 | |
Adjustment to Period End Dates:
|
Applicable |
Floating Amounts:
Floating Rate Payer:
|
SunTrust Bank | |
Floating Rate Payer Payment Dates:
|
The 22nd day of each Month, beginning Aug 24, 2009, through and including the Termination Date, subject to adjustment in accordance with the Modified Following Business Day convention. | |
Floating Rate for Initial Calculation Period:
|
0.28625 % per annum | |
Floating Rate Day Count Fraction:
|
Actual/360 | |
Designated Maturity:
|
1 Month | |
Floating Rate Option:
|
USD-LIBOR-BBA | |
Spread:
|
Inapplicable | |
Adjustment to Period End Dates:
|
Applicable | |
Reset Dates:
|
The first day of each Floating Rate Payer Calculation Period. |
2. Other Provisions
(a) Relationship Between the Parties. Each party hereto represents to the other as of the
Trade Date that (absent a written agreement between the parties that expressly imposes
affirmative obligations to the contrary for this Swap Transaction):
(i) Non-Reliance. It is acting for its own account, and it has
made its own independent decisions to enter into this Swap Transaction and as to
whether this Swap Transaction is appropriate or proper for it based upon its own
judgment and upon advice from such advisers as it has deemed necessary. It is not
relying on any communication (written or oral) of the other party as investment
advice or as a recommendation to enter into this Swap Transaction, it being
understood that information and explanations related to the terms and conditions of
this Swap Transaction will not be considered investment advice or a recommendation
to enter into this Swap Transaction. No communication (written or oral) received
from the other party will be deemed to be an assurance or guarantee as to the
expected results of this Swap Transaction.
(ii) Assessment and Understanding. It is capable of assessing
the merits of and understanding (on its own behalf or through independent
professional advice), and understands and accepts, the terms, conditions and risks
of this Swap Transaction. It is also capable of assuming, and assumes, the risks
of this Swap Transaction.
(iii) Status of Parties. The other party is not acting as a fiduciary for or
an adviser to it in respect
of this Swap Transaction.
(b) Regulatory Representations. Each party hereto represents to the other as of the
Trade Date that:
It is an “eligible contract participant”. as defined in Section
1a(12) of the Commodity Exchange Act, as amended (the “CEA”) and this Swap
Transaction has not been executed or traded on a “trading facility” within the
meaning of Section 1a(33) of the CEA;
(c) Customer Identification: To help the government fight the funding of terrorism and
money-laundering activities, federal law requires SunTrust to obtain, verify, and record
certain identifying information about its customers. The Counterparty will need to provide
to SunTrust its legal name, physical address, date of birth, if applicable, and other
identifying information, including identifying documents, to assist in this verification
process.
3. Account Details
Payments to SunTrust Bank
SunTrust Bank
ABA # 000000000
Account # BOND WIRE CLR, 9088000095
FBO: Bond Wire Clearing
Attn: Financial Risk Management, Operations
ABA # 000000000
Account # BOND WIRE CLR, 9088000095
FBO: Bond Wire Clearing
Attn: Financial Risk Management, Operations
Payments to Counterparty
“Xxxxxx Trust and Savings Bank, Chicago”
Favor Of: Xxxxxx Express Corporation
Account # 0000000
Favor Of: Xxxxxx Express Corporation
Account # 0000000
Please confirm that the foregoing correctly sets forth the terms of the Swap Transaction by signing
this Confirmation and immediately returning all its pages via fax (without a cover sheet) to
000-000-0000 OR 000-0000000.
Accepted and Confirmed as of date first written: | ||
SunTrust Bank
|
Xxxxxx Express Corp. | |
By: /s/ Xxxxx Xxxxx | ||
Name: Xxxxx Xxxxx Title: Treasurer |