CREDIT SUISSE AMENDMENT No. 1 to the FRAMEWORK AGREEMENT FOR CREDIT PRODUCTS (hereinafter referred to as “Framework Agreement”) between
EXHIBIT 10.7
CREDIT SUISSE
AMENDMENT No. 1
to the
FRAMEWORK AGREEMENT FOR CREDIT PRODUCTS
(hereinafter referred to as “Framework Agreement”)
between
X. Xxxxxxxxxxxx & Co. AG Maschinenfabrik St. Gallen
Xxxxxxxxxxxxxxxxxx 00, 9008 St. Gallen
(hereinafter referred to as “the Borrower”; date of the Borrower’s signature on the Framework Agreement: 20. August 2009)
and
CREDIT SUISSE AG
Mailing address: X.X. Xxx 000, 0000 Xx. Xxxxxx
Contact address: St Xxxxxxxxxxxxxxx 0, 0000 Xx. Xxxxxx
(the lender, hereinafter referred to as the “Bank”; date of the Bank’s signature on the Framework Agreement: 12. August 2009)
The Framework Agreement is herewith amended and / or modified as folIows:
1. Utilization
The provision Utilization is fully deleted and replaced by the following provision
Utilization |
This credit facility can be used in CHF and/or in any other freely convertible foreign currencies as follows |
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as margin cover for over-the-counter (OTC) trades concluded by the Bank up to the total amount of CHF 7’500’000.00 |
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with maximum terms of 12 months |
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as a guarantee limit up to the total amount of CHF 7’500’000.00 |
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as a documentary credit limit up to the total amount of CHF 7’500’000.00 |
The Bank reserves the right to refuse individual transactions relating to the credit products above.
2. Applicable law and Place of Jurisdiction
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This Amendment No. 1 is subject to and shall be construed in accordance with Swiss law. |
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The Borrower recognizes the exclusive jurisdiction of the courts of Zurich or of the location of the branch of the Bank with which the contractual relationship exists. The |
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Bank also has the right to bring legal action against the Borrower before any other competent court. |
7. Issuance / Signing of this Agreement
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This Amendment No. 1 is drawn up in two copies. The Borrower and the Bank shall each receive one copy. |
Xx. Xxxxxx, 00. November 2009 |
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CREDIT SUISSE AG |
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/S/ XXXXX XXXXXX |
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/S/ XXXXXXXXX XXXXXX |
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(Xxxxx Xxxxxx) |
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(Xxxxxxxxx Xxxxxx) |
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St. Gallen, 10. December 2009 |
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X. Xxxxxxxxxxxx & Co. AG |
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Maschinenfabrik, St. Gallen |
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/S/ XXXX XXXXXXXXXXXX |
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/S/ XXXXX XXXXXX |
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(Xxxx Xxxxxxxxxxxx) |
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(Xxxxx Xxxxxx) |
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Borrower’s signature |
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