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Amendment To The Citibank Trade Receivables Agreement

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Sectors: Services
Governing Law: New York, View New York State Laws
Effective Date: January 18, 2007
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Exhibit 10.2AMENDMENTDated as of January 18, 2007 This AMENDMENT among THE DETROIT EDISON COMPANY, a Michigan corporation (the " Seller" ), CITIBANK, N.A. (" Citibank" ), and CITICORP NORTH AMERICA, INC., as agent (the " Agent" ) for itself and Citibank. PRELIMINARY STATEMENTS: (1) The Seller, Citibank, and the Agent have entered into a Trade Receivables Purchase and Sale Agreement, dated as of February 28, 1989, and an Amendment and Restatement thereof, dated as of October 1, 1991, and Amendments thereof dated as of February 28, 1994, as of February 1, 1999, as of January 27, 2000, as of January 25, 2001, as of May 28, 2003, as of February 25, 2004, as of February 18, 2005 and as of January 19, 2006 (said Trade Receivables Purchase and Sale Agreement, as so amended and restated and further amended, being the " Agreement" ; the terms defined therein being used herein as therein defined unless otherwise defined herein). (2) The Seller, Citibank and the Agent have agreed to amend the Agreement as hereinafter set forth. SECTION 2. Amendment to Agreement . Effective as of the date hereof, the definition of " Commitment Termination Date" in Section 1.01 of the Agreement is amended by replacing the date " January 18, 2007" therein with the date " January 17, 2008." SECTION 3. Representations and Warranties of the Seller . The Seller represents and warrants as follows: (a) The Seller is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Michigan. (b) The execution, delivery and performance by the Seller of this Amendment and the Agreement, as amended hereby, and the transactions contemplated hereby and thereby are within the Seller' s corporate powers, have been duly authorized by all necessary corporate action, do not contravene (i) the Seller' s charter or by-laws or (ii) law or any contractual restriction binding on or affecting the Seller and, except to the extent contemplated by the Agreement, do not result in or require the creation of
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