EXHIBIT 10.1
SWAP TRANSACTION CONFIRMATION
Date: | January 05, 2009 |
To: | Spartan Stores, Inc. ("Counterparty") |
Address: | 850 76th St. |
Email: |
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Attention: | Bill Jacobs |
From: | Wachovia Bank, N.A. ("Wachovia") |
Ref. No: |
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Dear Bill Jacobs:
This confirms the terms of the Transaction described below between Counterparty and Wachovia. The definitions and provisions contained in the 2006 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc., are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern. Fixed Amounts and Floating Amounts for each applicable Payment Date hereunder will be calculated in accordance with the ISDA Definitions, and if any Fixed Amount and Floating Amount are due for the same Payment Date hereunder, then those amounts shall not be payable and instead the Fixed Rate Payer shall pay the positive difference, if any, between the Fixed Amount and the Floating Amount, and the Floating Rate Payer shall pay the positive difference, if any, between the Floating Amount and the Fixed Amount.
1. The terms of the particular Transaction to which the Confirmation relates are as follows:
Transaction Type: | Interest Rate Swap |
Currency for Payments: | U.S. Dollars |
Notional Amount: | USD 45,000,000.00 |
Term: |
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Trade Date: | January 02, 2009 |
Effective Date: | January 06, 2009 |
Termination Date: | December 24, 2012, subject to adjustment in accordance with the |
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Fixed Amounts: |
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Fixed Rate Payer: | Counterparty |
Payment Dates: | Monthly on the 24th of each month commencing January 26, 2009, |
Business Day Convention: | Modified Following |
Business Day: | New York |
Fixed Rate: | 2.08% |
Fixed Rate Day Count Fraction: | Actual/360 |
Wachovia:
2/3
Floating Amounts: |
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Floating Rate Payer: | Wachovia |
Payment Dates: | Monthly on the 24th of each month commencing January 26, 2009, |
Business Day Convention: | Modified Following |
Business Day: | New York |
Floating Rate for initial | 0.43% |
Calculation Period: |
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Floating Rate Option: | USD-LIBOR-BBA |
Designated Maturity: | 1 Month |
Spread: | None |
Floating Rate Day Count | Actual/360 |
Fraction: |
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Floating Rate determined: | Two London Banking Days prior to each Reset Date. |
Reset Dates: | The first day of each Calculation Period. |
Compounding: | Inapplicable |
Rounding convention: | 5 decimal places per the ISDA Definitions. |
2. The additional provisions of this Confirmation are as follows:
Calculation Agent: | Wachovia |
Payment Instructions: | Wachovia Bank, N.A. |
Wachovia Contacts: | Settlement and/or Rate Resets: |
Payments to Counterparty: | Per your standing payment instructions or debit authorization |
Documentation
This Confirmation supplements, forms part of, and is subject to, the Master Agreement between Wachovia and Counterparty dated as of December 12, 2008, as amended and supplemented from time to time (the "ISDA Master Agreement"). All provisions contained or incorporated by reference in the ISDA Master Agreement will govern this Confirmation except as expressly modified herein.
Wachovia:
3/3
Please confirm that the foregoing correctly sets forth the terms of our agreement by executing a copy of this Confirmation and returning it to us.
| Very truly yours, |
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| By: | /s/ Tracey Bissell |
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| Name: Tracey Bissell |
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| Ref. No. |
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Accepted and Confirmed as of date first |
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By: | /s/ Bill Jacobs |
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Name: | Bill Jacobs |
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Title: | Corporate Treasurer |
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Wachovia: