AMENDMENT No. 2 to the FRAMEWORK AGREEMENT FOR CREDIT PRODUCTS and AMENDMENT No. 1 (hereinafter referred to as “Framework Agreement” and “Amendment No. 1”) between
EXHIBIT 10.2
AMENDMENT No. 2
to the
FRAMEWORK AGREEMENT FOR CREDIT PRODUCTS and AMENDMENT No. 1
(hereinafter referred to as “Framework Agreement” and “Amendment No. 1”)
between
X. Xxxxxxxxxxxx & Co. AG
Xxxxxxxxxxxxxxxxxx 00, 9009 St. Gallen
(hereinafter referred to as “the Borrower”; date of the Borrower’s signature on the Framework Agreement under the former name X. Xxxxxxxxxxxx & Co. AG Maschinenfabrik, St. Gallen: 20. August 2009; date of the Borrower’s signature on the Amendment No. 1 under the former name X. Xxxxxxxxxxxx & Co. AG Maschinenfabrik, St. Gallen: 10. December 2009)
and
CREDIT SUISSE AG
Mailing address: X.X. Xxx 000, 0000 Xx. Xxxxxx
Contact address: Xx. 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; date of the Bank’s signature on the Amendment No. 1: 19. November 2009)
The Framework Agreement is herewith amended and / or modified as follows:
1. Negative Pledge Clause
The Negative Pledge Clause under Borrower’s Negative Obligations is fully deleted and replaced by the following clause
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Borrower’s Negative Obligations |
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· Negative Pledge Clause The Borrower undertakes, to the extent permitted by law, to refrain from providing new or additional collateral in favour of a third party to secure existing or future liabilities or the Borrower or a third party except cash credits up to an amount of CHF 5’000’000.00 secured by mortgage notes (“Namenschuldbriefe”) on Land Register Biel, no. 9443, Xxxxxxx 0, 0000 Xxxx/Xxxxxx. |
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2. Applicable Law and |
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This Amendment No. 2 is subject to and shall be construed in |
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Place of Jurisdiction |
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accordance with Swiss law.
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 Bank also has the right to bring legal action against the Borrower before any other competent court. |
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7. Issuance / Signing of this Agreement |
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This Amendment No. 2 is drawn up in two copies. The Borrower and the Bank shall each receive one copy. |
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CREDIT SUISSE XX |
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X. Xxxxxxxxxxxx & Co. AG |
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/S/ XXXXX XXXXXX |
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/S/XXXXXXXXX XXXX |
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/S/ XXXX XXXXXXXXXXXX |
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/S/ XXXXX HUERSCH |
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Xxxxx Xxxxxx |
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Xxxxxxxxx Xxxx |
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Jurg Xxxxxxxxxxxx |
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Xxxxx Xxxxxxx |
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Xx. Xxxxxx, 00. August 0000 |
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Xx. Xxxxxx, 31. August 2010 |
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