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EXHIBIT 4.2
June 8, 1995
Mr. Richard C. DeCook
Senior Vice President - Finance and
Chief Financial Officer
The Wackenhut Corporation
1500 San Remo Avenue
Coral Gables, FL 33146-3036
Re: The Revolving Credit and Reimbursement Agreement ("Credit
Agreement") by and among The Wackenhut Corporation ("The
Company"), NationsBank of Florida, National Association
("Agent and Lender"), and Bank of America Illinois ("Lender")
dated as January 5, 1995.
Dear Mr. DeCook:
This letter acknowledges the Agents and Lender release effective June 8, 1995
of all Collateral (including all funds on deposit in the B of A account)
pledged under the Letter of Credit Account Agreement dated as of January 5,
1995. In addition, pursuant to Section 2.10 Reduction in Commitment, the
Company agrees within 30 days of the Collateral release to reduce the Total
Revolving Loan Commitment amount to $50,000,000.
The execution and delivery of this letter shall be deemed to expressly or
impliedly waive, amend, modify or supplement any provisions of the Credit
Agreement other than as set forth herein.
This letter may be executed by the parties on separate counterparts, each of
which shall be deemed to be an original, and all of which shall together
constitute but one and the same instrument.
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Very truly yours,
NationsBank of Florida, National Bank of America Illinois, as Lender
Association, as Agent and Lender
By: By:
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Name: John A. Miller Name: Laurens F. Schaad Jr.
Title: Vice President Title: Vice President
Agreed To:
The Wackenhut Corporation Titania Insurance Company of America
By: By:
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Name: Terry P. Mayotte Name: James P. Rowan
Title: Assistant Treasurer Title: Vice President