Third Amendment to the REVOLVING CREDIT AGREEMENT
Third Amendment to the REVOLVING CREDIT AGREEMENT
WISeKey International Holding AG. of Xxxxxxx-Xxxxxx-Xxxxxxx 0, Xxx, XX-0000, Xxxxxxxxxxx ("LENDER") and WISeKey Semiconductors SAS (formerly named Vault-IC SAS) of Arteparc Bachasson,Bât A, Rue de la xxxxxxxx xx Xxxxxxxxx, 00000 Xxxxxxxx, Xxxxxx, corporation ("BORROWER") enter into this Third amendment to Revolving Credit Agreement (this “Amendment”) as of November 3rd, 2022 (the “EFFECTIVE DATE”).
Background
On October 1st 2016 the Lender and the Borrower signed a Revolving Credit Agreement (the "AGREEMENT") beginning on October 1st 2016 and ending on December 31st 2017, subsequently amended on November 1st 2017 (the “FIRST AMENDMENT”) and on March 16th 2021 (the “SECOND AMENDMENT”.)
Both parties now wish to amend the interest charged on the unpaid principal as stated in Section 2.2 with effect from 1st October 2022, being the new rate of interest (“NEW INTEREST”).
NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Lender and the Borrower hereby agree as follows:
Terms and Conditions
1. Amendments to Revolving Credit Agreement
A. Section 2.2 is amended to read as follows:
2.2 INTEREST. Xxxxxxxx's indebtedness to Lender under the Loan advanced by Lender under this Agreement will be subject to an interest on unpaid principal at a rate equal two and a half percent (2.5%) per annum (calculated on the basis of a 365/360-day year) compounded annually.
2. General Terms
A. except as amended hereby, all terms and conditions of the Agreement remain in full force and effect.
IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment as of the Effective Date.
Signature in two (2) originals, one (1) one for each party are on the next page:
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WISeKey Semiconductors SAS (formerly Vault-IC SAS)
Arteparc Bachasson, Bât A
Xxx xx xx xxxxxxxx xx Xxxxxxxxx
00000 Xxxxxxxx
Xxxxxx
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WISeKey International Holding AG
General-Guisan-Str.6
CH-6300 Zug
Switzerland
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Signature:
/s/ Xxxxx Xxxx /s/ Xxxxxxx Xxxx __________________________________
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Signature:
/s/ Xxxxx Xxxx /s/ Xxxxxx Xxxxxxx ____________________________________
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Printed Name:
Xxxxx Xxxx / Xxxxxxx Xxxx
___________________________________
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Printed Name:
Xxxxx Xxxx / Xxxxxx Xxxxxxx
___________________________________
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Title:
President / General Manager
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Title:
CFO / CEO
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