Exhibit 4.1
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May 23, 2007
Graco Inc.
88 11th Avenue Northwest
Minneapolis MN 55413
Attention: Janel W. French
RE: | Promissory Note from Graco Inc. ("Borrower") to Wachovia Bank, National Association ("Wachovia") in the original principal amount of $25,000,000.00 dated April 1, 2006, including any amendments (the "Note"). |
Obligor # 000004151380481 | Obligation # 000000000000265 |
Dear Janel:
Wachovia has agreed to extend the term of the Note, which will mature or has matured on May 31, 2007. Accordingly, this letter shall constitute Wachovia’s agreement and formal notice to you, as follows:
Extension: Wachovia hereby extends, on the same terms and conditions as presently in effect, the maturity of the Note to July 31, 2007, at which time the outstanding principal balance, accrued interest and all other amounts due under the Note shall become due and payable. All periodic payments required under the Note shall be made during the extension period.
No Other Changes: Extension of the maturity date as stated herein is the only change to the Note. Except as extended by this letter, the Note and all other Loan Documents (as defined in the Note) shall continue in full force and effect. Should you have any questions, do not hesitate to call.
Very truly yours, | ||
Wachovia Bank, National Association | ||
By: | /s/ C. Jeffrey Seaton | |
C. Jeffrey Seaton | ||
Managing Director |