First Amendment to the Loan Agreement
First Amendment to the Loan Agreement
WISeCoin AG. of Xxxxxxx-Xxxxxx-Xxxxxxx 0, Xxx, XX-0000, Xxxxxxxxxxx ("LENDER") and WISeKey Semiconductors SAS of Arteparc Bachasson,Bât A, Rue de la xxxxxxxx xx Xxxxxxxxx, 00000 Xxxxxxxx, Xxxxxx, corporation ("BORROWER") enter into this First amendment to the Loan Agreement (this “Amendment”) as of November 3rd, 2022 (the “EFFECTIVE DATE”).
Background
On October 1, 2019 the Lender and the Borrower’s previous subsidiary, WISeCoin R&D Lab France SAS, signed a Loan Agreement (the “AGREEMENT”) beginning on October 11, 2019. The Agreement was transferred to the Borrower upon the merger between the Borrower and WISeCoin R&D Lab France SAS.
Both parties now wish to amend the interest charged on the unpaid principal as stated in Section 2.2 with effect from 1st October 2022, being the new rate of interest (“NEW INTEREST”).
NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Lender and the Borrower hereby agree as follows:
Terms and Conditions
1. Amendments to Loan Agreement
A. Section 2.1 is amended to read as follows:
2.1 Interest shall accrue on the Loan at a rate of two and a half percent (2.5%) per annum (“Interest Rate”.)
2. General Terms
A. except as amended hereby, all terms and conditions of the Agreement remain in full force and effect.
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment as of the Effective Date.
Signature in two (2) originals, one (1) one for each party are on the next page:
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WISeKey Semiconductors SAS (formerly Vault-IC SAS)
Arteparc Bachasson, Bât A
Xxx xx xx xxxxxxxx xx Xxxxxxxxx
00000 Xxxxxxxx
Xxxxxx
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WISeCoin XX
Xxxxxxx-Xxxxxx-Xxx.0
XX-0000 Xxx
Xxxxxxxxxxx
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Signature:
/s/ Xxxxx Xxxx /s/Xxxxxxx Xxxx __________________________________
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Signature:
/s/ Xxxxx Xxxx /s/Xxxxxx Xxxxxxx ____________________________________
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Printed Name:
Xxxxx Xxxx / Xxxxxxx Xxxx ___________________________________
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Printed Name:
Xxxxx Xxxx / Xxxxxx Xxxxxxx ___________________________________
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Title:
President / General Manager ___________________________________
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Title:
CFO / CEO ____________________________________
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