EX-10.73 100 y88696a1exv10w73.txt INTEREST RATE SWAP CONFIRMATION . . . Exhibit 10.73 [BANK OF AMERICA LOGO] To: Nelnet Loan Services, Inc. and Nelnet Inc. 121 S. 13th Street, Suite 301 Lincoln, NE 68508 Attn: Julie Waltke Telephone: 402-458-2310 Fax: 402-458-2399 From: Bank of America, N. A. 233 South Wacker Drive - Suite 2800 Chicago Illinois 60606 U.S.A. Department: Swaps Operations Telephone: (+1)312 234 2732 Fax: (+1)312 234 3603 Date: 25th July 2003 Our Reference No: 3108646 Reference Name: Jay Saunders Internal Tracking No: 13031110
Dear Sir/Madam, The purpose of this letter agreement is to conform the terms and conditions of the Transaction entered into between Nelnet Loan Services, Inc. and Nelnet Inc. and Bank of America, N.A. (each a "party" and together "the parties") on the Trade Date specified below (the "Transaction"). This letter agreement constitutes a "Confirmation" as referred to in the ISDA Master Agreement specified below (the "Agreement"). The definitions and provisions contained in the 2000 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc., (the "Definitions") are incorporated into this Confirmation. In the event of any inconsistency between the Definitions and this Confirmation, this Confirmation will govern. This Confirmation supplements, forms part of, and is subject to, the ISDA Master Agreement dated as of 20th August 2001, as amended and supplemented from time to time, between the parties. All provisions contained, in the Agreement govern this Confirmation except as expressly modified below. In this Confirmation "Party A" means Bank of America, N.A. and "Party B" means Nelnet Loan Services, Inc. and Nelnet Inc.. 1 GENERAL TERMS: The terms of the particular Transaction to which this Confirmation relates are as follows: Notional Amount: USD 1,000,000,000.00 Trade Date: 25th July 2003 Effective Date: 25th July 2003 Termination Date: 26th July 2004, subject to adjustment in accordance with the Modified Following Business Day Convention FIXED AMOUNTS: Fixed Rate Payer: Party B Fixed Rate Payer The 25th of each Month, commencing on 25th August 2003 Payment Dates: and ending on the Termination Date, subject to adjustment in accordance with the Modified Following Business Day Convention Fixed Rate: 1.18000 per cent Fixed Rate Day Count Fraction: Actual/360 FLOATING AMOUNTS: Floating Rate Payer: Party A Floating Rate Payer Payment Dates: The 25th of each Month, commencing on 25th August 2003 and ending on the Termination Date, subject to adjustment in accordance with the Modified Following Business Day Convention Floating Rate for initial Calculation Period: 1.10000 per cent Floating Rate Option: USD-LIBOR-BBA Designated Maturity: 1 Month Spread: None Floating Rate Day Count Fraction: Actual/360 Reset Dates: First day of each Calculation Period
2 BUSINESS DAYS: NewYork and London CALCULATION AGENT: Party A RECORDING OF Conversations: Each party to this Transaction acknowledges and agrees to the tape recording of conversations between the parties to this Transaction whether by one or other or both of the parties or their agents, and that any such tape recordings may be submitted in evidence in any Proceedings relating to the Agreement and/or this Transaction. ACCOUNT DETAILS: Account for payments to Party A: USD Pay to: Bank of America, N.A., New York ABA#: 026009593 Favour: Bank of America, N.A., Charlotte Account Number: 6550219386 Swift Code: BOFAUS6SGDS Account for payments to Party B: USD Pay to: Union Bank and Trust, Lincoln ABA#: 104910795 Favour: NelNet, Inc. Account Number: 6014352
OFFICES: The Office of Party A for this Transaction is: Charlotte - NC, United States Please send reset notices to fax no. (+1 312) 234-3603. The Office of Party B for this Transaction is: Lincoln - NE, United States Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement by returning via telecopier an executed copy of this Confirmation to the attention of Global Derivative Operations (fax no. (+1 312)234 3603). Accepted and confirmed as of the date first written: Bank of America, N.A. Nelnet Loan Services, Inc. and Nelnet Inc. 3