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  2. Board Of Aldermen - Agenda - 2/23/2016 - P37

Board Of Aldermen - Agenda - 2/23/2016 - P37

By dnadmin on Sun, 11/06/2022 - 21:36
Document Date
Tue, 02/23/2016 - 00:00
Meeting Description
Board Of Aldermen
Document Type
Agenda
Meeting Date
Tue, 02/23/2016 - 00:00
Page Number
37
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/boa_a__022320…

Attachment B

SCOBANK sain a oe
_ 3OC-IA2-8072

MMA SCTANK Core

January 15, 2016

Mr. Larry Goodhue, President
Pennichuck Corporation

25 Manchester St.

Nashua, NH 03054

Dear Mr. Goodhue:

This Non-Binding Summary of Terms and Conditions (this “Summary”) is being presented for information and
discussion purposes only. This Summary is neither a commitment nor an offer to extend credit and does not create any
obligation on the part of CoBank. CoBank’s decision to extend credit to the Company is contingent upon completion to
CoBank’s satisfaction of all necessary due diligence, receipt of internal credit approvals, and the preparation of final
documentation in form and substance satisfactory to CoBank. All figures, terms, and conditions are subject to change at
any time. A commitment by CoBank will exist only if a formal, written commitment letter or definitive loan documents
are prepared and executed by CoBank and the Company, and not otherwise. This Summary is strictly confidential and
may not be released to or discussed with any third party without the prior written consent of CoBank.

Borrower: Pennichuck East Utility, Inc. (the “Borrower”)

Type of Credit Facility: An up to 25 year multiple advance term loan in an amount up to $2,200,000
(“Term Loan”)

Purpose: To finance capital expenditures

Availability: Beginning on a date to be agreed upon by the parties and ending 180 days

from the beginning of availability. The Term Loan will be advanced
pursuant to closing procedures to be agreed upon by the parties.

Interest: In accordance with one or more of the following interest rate options, as
selected by the Borrower:

Weekly Quoted Variable Rate Option: Under this option, balances

may be fixed at a rate established by CoBank on the first "Business Day"
(to be defined) of each week. The rate established shall be effective until
the first Business Day of the next week. WQVR for the week of January
11, 2016 is 2.18%,

Quoted Fixed Rate Option. At one or more rates to be quoted by

CoBank. Under this option, rates can be fixed: (1) on balances or
multiples of $100,000; (2) for periods of 6 months to the final maturity

Denctr/Water/valley/2005/1 MLO121905

Page Image
Board Of Aldermen - Agenda - 2/23/2016 - P37

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