Addendum 2 to the LOAN AGREEMENT between HARTMANN ASIA HOLDING PTE LTD
ANNEX
1
Addendum
2
to
the
between
XXXXXXXX
ASIA HOLDING PTE LTD
0 Xxxxx
Xxxxxx Xxxx ; High Street Centre #06 - 18/19/20/21
Xxxxxxxxx
000000
and
ATL
Offshore GmbH & Co. “ISLE OF USEDOM” KG
Xxxx Xxx.
00 ; 26789 Leer
The
parties have entered into a LOAN AGREEMENT dated August 31, 2010 as amended with
Addendum No. 1 dated September 28, 2010.
The
parties agree to revise LOAN AGREEMENT as follows:
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·
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The
loan amount shall be increased by USD 17,000,000.00 (in words: USD
seventeen million; the “Loan Increase 2”) to USD 26,400,000.00 (in words:
USD twenty six million for hundred thousand, the
“Loan”).
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·
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The
Loan Increase 2 shall be granted to the Borrower immediately after signing
of this Addendum 2.
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·
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Clause
3 (Duration and Repayment) shall be restated as
follows:
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“The Loan
shall be granted until January 1, 2013. The Borrower shall be entitled to repay
all or any portion, without penalty at any time prior to the end of the loan
period without further notice.”
1
ANNEX
1
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·
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Clause
6 (Subordination) shall be restated as
follows:
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“The Loan
shall at all times be subordinated in all respects to (1) any claims of first
ranking mortgagee NORD/LB and to (2) any claims NORD/LB has out of the EUR 10.0
million Working Capital Facility.”
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·
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All
other terms shall remain unchanged.
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Leer,
October 25, 2010
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/s/ Xxxxx Xxxxxxxxx
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/s/ Xxxxx Xxxxxxxx
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Xxxxx Xxxxxxxxx for and on behalf of
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Xxxxx
Xxxxxxxx for and on behalf of
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ATL
Offshore GmbH
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acting
for and on behalf of
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XXXXXXXX
ASIA HOLDING PTE LTD
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ATL
Offshore GmbH & Co. “ISLE OF
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USEDOM”
KG
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2
