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Amended and Restated Loan Agreement (as amended from time to time, the "2001 Loan Agreement") between JP Morgan Chase Bank NA ("Lender") as successor to Bank One, NA, and Plains Capital Corporation ("Borrower"), dated as of October 1, 2001; Loan Agreement (as amended from time to time, the "2004
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Exhibit 10.59
JP MORGAN CHASE BANK, NA
October 16, 2009
Via Electronic and Regular
Mail
PlainsCapital Corporation
2323 Victory Avenue, Suite 1400
Dallas, Texas 75219
Attn: Jeff Isom
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Re:
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Amended and
Restated Loan Agreement (as amended from time to time, the “
2001 Loan Agreement ”) between JP Morgan Chase
Bank NA (“ Lender ”) as successor to Bank
One, NA, and Plains Capital Corporation (“
Borrower ”), dated as of October 1, 2001;
Loan Agreement (as amended from time to time, the “
2004 Loan Agreement ”) between Lender and
Borrower, dated as of September 22, 2004; Loan Agreement (as
amended from time to time, the “ Term Loan
Agreement ”), between Lender and Borrower, dated as
of October 27, 2004; Credit Agreement (as amended from time to
time, the “ Revolving Credit Agreement
”), between Lender and Borrower, dated as of October 13,
2006
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Mr. Isom:
Prior to the date hereof, Borrower
notified Lender that it intended to consummate an initial public
offering of its common stock (the “ IPO
”). The IPO may result in a “change of control”
in Borrower or otherwise violate certain covenants restricting
transfers of ownership interests in Borrower thus triggering
certain defaults under any one or more of the 2001 Loan Agreement,
the 2004 Loan Agreement, the Term Loan Agreement and the Revolving
Credit Agreement (the “ IPO COC Defaults
”). For this reason, Borrower has asked Lender to grant its
prior consent to the IPO and waive any IPO COC Default.
In addition, following the IPO the
holders of the common stock of Borrower will have the ability to
sell, transfer, assign, or grant liens and security interests in
such stock (collectively, “ Stock Trading
”). The Stock Trading may r
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