Amendment .No 2 To Credit Agreement No TF-048/10 dated 16 July 2010 (the “Credit Agreement”)
Exhibit 10.3
Amendment No. 2
To Credit Agreement TF-048/10
Amendment .No 2
To Credit Agreement No TF-048/10 dated 16 July 2010 (the “Credit Agreement”)
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Amsterdam |
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30 December 2011 |
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The undersigned: |
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Luxoft USA, Inc., a company with limited liability incorporated under the laws of Delaware, having its registered office at 0000 Xxxxxxxxxxx xxxx xxxxx 000, Xxxxxxxxxx, XX 00000, County of New Castle, United States of America (the ‘‘Borrower”); and
AMSTERDAM TRADE BANK N.V., a public company with limited liability incorporated under the laws of the Netherlands, having its registered office at Xxxxxxxxxxx 000-000, 0000 XX, Xxxxxxxxx, xxx Xxxxxxxxxxx (the “Bank”);
HAVE AGREED AS FOLLOWS:
1. To make the following amendments to the Credit Agreement:
1.1. Clause 1 is redrafted as follows:
“1. Principal Amount and Composition of the Facility: Loan Facility in the amount of USD
18,000,000.00 (Eighteen million US dollars).”
1.2. Clause 6.5 is redrafted as follows:
‘“6.5 Interest: The rate of interest for:
6.5.1 a Loan with its Term up to 3 months is 7.8% per annum;
6.5.2 a Loan with its Term longer than 3 months but not exceeding 6 months is 8.1 % per annum;
6.5.3 a Loan with its Term exceeding 6 months is 8.5 %per annum.”
2. The Borrower and the Bank have agreed that the Schedule II to the Credit Agreement shall be amended and restated as provided in the Schedule II to the present Amendment.
3. All other terms and conditions ofthe Credit Agreement remain in full force and effect.
4. The present Amendment forms an integral part of the Credit Agreement and shall have effect and be dated on the date stated at the beginning of the present Amendment.
5. The present Amendment is made in duplicate.
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FOR THE BANK |
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FOR THE BORROWER | |||
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AMSTERDAM TRADE BANK N.Y. |
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Luxoft USA, Inc.. | |||
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Xxxxxxxxxxx Xxxx, Xxxxx 000, | |||
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Xxxxxxxxxxx 469-475, |
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Xxxxxxxxxx, XX 00000, | |||
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0000 XX, Xxxxxxxxx |
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Xxxxxx xx Xxx Xxxxxx, Xxxxxx Xxxxxx of America | |||
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/s/ J.H.F. Umbgrove |
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Name: |
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Title: |
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By: |
/s/ Xxxx Xxxxxxxxx | ||
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By: |
/s/ E. Volokhova |
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Name: | ||
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Name: |
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Title | |||
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Title: |
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AGREED and ACKNOWLEDGED |
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GUARANTOR |
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AGREED and ACKNOWLEDGED | |||
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Luxoft International Company Limited |
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Xxxxx Xxxxxxxx, 00 |
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XXXXXXXXX | |||
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Xx Castro Street, Wickhams Cay I, P.O. |
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lBS Group Holding Ltd | |||
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Box 3136 |
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Xxxxxxx Court, 29 | |||
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Road Town Tortola |
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Parliament Street | |||
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British Virgin I |
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Ramsey Isle of Man IM8 IJA | |||
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By: |
/s/ Xxxx Xxxxxxxxx | ||
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By: |
/s/ Xxxxxx Xxxxxxx |
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Name: |
Xxxx Xxxxxxxxx | |
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Name: |
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Title: |
Director | ||
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Title: |
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Bank |
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Borrower | ||
Schedule II dated
To Facility Agreement No. TF-048/10 dated 16 July 2010
List of Account Debtors and Facility limits established per individual Account Debtor
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BOEING Company |
USD 4.500.000,00 |
IBM Eurocoordination S.A. and/or its affiliated companies (which for the purposes of this facility agreement, for a time being shall includes, IBM Deutschland GmbH)- USD 2.000.000.00
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Deutsche Bank AG |
USD 7.500.000.00 |
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UBSAG |
USD 7.000.000.00 |
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Xxxxxx Xxxxxx Automotive Systems GmbH |
USD 3.000.000.00 |
(the “Group’’)
The List of approved Account Debtors is subject to amendments upon sole discretion of the Bank.
The outstanding aggregate amount of the facilities available to members of the Group shall never exceed the Principal Amount of USD 18,000,000.00, at any given moment during the lifetime of the Agreement and no Drawdown Request will be granted by the Bank if, as the result, any of the limits established above are breached.
The limit on Deutsche Bank AG can also be used for invoices issued by Luxoft Eastern Europe Ltd.
