Amendment dated November 2, 2008 to Letter Agreement, dated July 14, 2008, between Bank Mizrahi Tefahot Ltd., as lender, and AudioCodes Ltd., as borrower. (English Summary of Documents in Hebrew)
Amendment
dated November 2, 2008 to Letter Agreement, dated July 14, 2008, between
Bank
Mizrahi Tefahot Ltd., as lender, and AudioCodes Ltd., as borrower.
Mizrahi Tefahot Ltd., as lender, and AudioCodes Ltd., as borrower.
(English
Summary of Documents in Hebrew)
|
Date:
|
November
2, 2008
|
|
Parties:
|
Bank
Mizrahi Tefahot Ltd.
|
|
Borrower:
|
|
|
Financial
Covenants:
|
In
relation to the following covenant:
|
-
|
Until
repayment of 2% Senior Convertible Notes Due 2024 in November 2009, cash
and investments not less than $120 million and cash balance not less than
$15 million.
|
|
The
parties agreed that if Borrower decides, in its sole discretion, to
buyback Borrower’s Senior Convertible Notes, the amounts paid for such
buyback will be deducted from the $120 million cash and
investment.
|
|
