From: Mark Wadhwa and Timothy Robinson (“MWTR”) For and on behalf of the Issuer(s)
Exhibit 10.17
From:
Xxxx Xxxxxx and Xxxxxxx Xxxxxxxx
(“MWTR”)
For and on behalf of the Issuer(s)
Xxxx Xxxxxx
Xxxxxxx Xxxxxx Xxxxxxxx
Xxxxxxxx Street Regeneration Limited
The Vinyl Factory Limited
Fineyork Limited
Brighton Seafront Regeneration Limited
and
Vinyl Factory Xxxxxxxxxx 0 Xxxxxx X.x.x.x
To:
Soho Works Limited
(“SWL”)
Dated: March 15, 2024
Dear SWL,
Amendment to the £40,000,000 Facility Agreement
We refer to the £40,000,000 facility agreement entered into on 29 September 2017 (as previously amended on 3 March 2023) between the Issuer(s) as referred to above and SWL (the “Facility Agreement”).
The Issuer(s) as referred to above agrees, in respect of the £17,294,535 portion of the Loan previously drawn down by SWL, to the extension of clause 1.2 “Repayment Date” from 7 years to 8 years as shown in the below schedule subject to internal approvals and the following Condition Subsequent to be entered into by the Issuer(s) as referred to above and SWL:
Save to extent that it is amended by this letter, the Facility Agreement shall continue in full force and shall be deemed to operate as though the amendment made by this letter were incorporated in the Facility Agreement. In all other respects, the parties confirm the terms of the Original Agreement.
The Issuer(s) referred to above will agree to extend clause 1.2 “Repayment Date” from 7 years to 8 years as shown in the below schedule and if the internal approval is not met an alternative loan structure will be approved by the Issuer(s) referred to above.
SIGNED BY
Xxxx Xxxxxx Xxxxxxx Xxxxxxxx
/s/ Xxxx Xxxxxx /s/ Xxxxxxx Xxxxxxxx
For and on behalf of the Issuer(s) – Xxxx Xxxxxx, Xxxxxxx Xxxxxx Xxxxxxxx, Xxxxxxxx Street Regeneration Limited, The Vinyl Factory Limited, Fineyork Limited, Brighton Seafront Regeneration Limited and Vinyl Factory Xxxxxxxxxx 0 Xxxxxx X.x.x.x.
SIGNED BY
Soho Works Limited
Xxxxxx Xxxxxx
/s/ Xxxxxx Xxxxxx
Director
SCHEDULE
“1.2 “Repayment Date”
means the earliest of the date which falls:
(e) on the earlier of the date falling eight years after the date of this Agreement;
(f) the date of a Disposal; and
(g) such later date as the Lender may determine in its absolute discretion;”