Contract
Exhibit
10.2
AMENDMENT TO LOAN AGREEMENT
This
Amendment dated as of the 12th
day of
June, 2007, by and between TWIN
BRIDGES (BERMUDA)
LTD.,
a
Bermuda company whose registered office is at Xxxxxx’x Court, 00 Xxxxxxxx
Xxxxxx, Xxxxxxxx XX 12, Bermuda (“Borrower”) and KEYBANK
NATIONAL ASSOCIATION,
a
national banking association with offices at 0000 Xxxxxxxx Xxxx, XX-00-00-0000,
Xxxxxxxx, Xxxx 00000 (“Lender”) to that certain Amended and Restated Loan
Agreement dated October 3, 2005 between Borrower and Lender (the
“Agreement”).
W
I T N E
S S E T H:
WHEREAS,
pursuant to the Agreement, Lender made available to Borrower a line of credit
in
the maximum principal amount of $7,000,000.00, and
WHEREAS,
Borrower and Lender have agreed to renew said line of credit,
NOW,
THEREFORE, in consideration of the mutual covenants herein contained, Borrower
and Lender, incorporating the defined terms used in the Agreement, hereby
amend
the Agreement as follows:
| 1. |
Section
2.2 Term
of Facility. The
Loan, if not sooner demanded, shall mature and become due and payable
on
June 30, 2008. If not sooner demanded, the Borrower shall have
an option
to renew the Loan for an additional one (1) year term.
|
| 2. |
Section
2.3 Draw
Fee. The
Borrower will pay a fee equal to one and one-half (1.50%) percent
of the
amount requested for each Letter of Credit, calculated from the
time
issued until the current expiration date of the
Letter.
|
Except
as
hereby amended, the Agreement shall remain in full force and
effect.
IN
WITNESS WHEREOF, Borrower and Lender have executed this Amendment as of the
date
first herein above set forth.
| TWIN BRIDGES (BERMUDA) LTD. | KEYBANK NATIONAL ASSOCIATION | ||
|
By:
/s/ Xxxxxxxx Xxxxx
|
By:
/s/ Xxxxxx X. Xxxxxx
|
||
|
Name:
Xxxxxxxx Xxxxx
|
Name:
Xxxxxx X. Xxxxxx
|
||
|
Title:
Vice President
|
Title:
Senior Vice
President
|
