Orbitz Worldwide has signed a letter of agreement with its largest shareholder, Travelport Limited to deliver a one-time payment of up to $3 million.

Expected to be delivered by 1 February this year, the agreement was signed late last year with the payment relating to fees linked with Travelport’s recently adjusted credit facility, FNN Online reported.

Although the payment will be made early this year, it will be under pro rata refund until 30 September next year and can be returned if Travelport is no longer in a position to provide with letters of credit on behalf of Orbitz.

The payment will also become void if Orbitz establishes its own letter of credit organisation.