Waiver dated November 24, 2008 to Letter Agreement, dated April 30, 2008, between First International Bank of Israel, as lender, and AudioCodes Ltd., as borrower. (English Summary of Documents in Hebrew)
Waiver
dated November 24, 2008 to Letter Agreement, dated April 30, 2008, between
First
International Bank of Israel, as lender, and AudioCodes Ltd., as borrower.
International Bank of Israel, as lender, and AudioCodes Ltd., as borrower.
(English
Summary of Documents in Hebrew)
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Date:
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November
24, 2008
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Parties:
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First
International Bank of Israel
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Borrower:
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Financial
Covenants:
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In
relation to the following covenant:
- Until
repayment of 2% Senior Convertible Notes Due 2024 in November 2009, cash and
investments not less than $120 million and cash balance not less than $15
million.
The
parties agreed that the Lender shall not be entitled to immediate repayment of
Borrower’s obligation due to Borrower’s buyback in October 22, 2008 of $50
million of Senior Convertible Notes.
