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Exhibit 10.1.8
AMENDMENT 2
TO THE
K-TRON
FORBEARANCE AGREEMENT
between
Swiss Bank Corp. Aarau (SBC) (Leading bank)
Credit Suisse (CS)
Swiss Volksbank (SVB)
Union Bank of Switzerland (UBS)
Banque Cantonale Neuchateloise (BCN) (Subsequently referred
to as Banks)
as well as
CS Immobilien Leasing AG (Subsequently referred
to as CSIL)
and
K-Tron (Switzerland) AG
K-Tron Asia Pacific Pte. Ltd. (Subsequently referred
to as K-Tron Group)
and
K-Tron International Inc.
K-Tron Investment Co. (Subsequently referred
to as K-Tron
International)
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The parties agree to the following changes to the Forbearance Agreement dated
December 22, 1995:
ARTICLE 1. (OBJECT AND SCOPE OF THE FORBEARANCE AGREEMENT)
Article 1.1
(Section 1 unchanged)
Section 2 new
Annex 1 to the Forbearance Agreement will become void as of April 1, 1997. The
credit agreements entered into between the Banks and K-Tron (Switzerland) AG
under the Forbearance Agreement will remain in force. To the extent that
individual banks have granted current account credit lines to K-Tron
(Switzerland) AG, these shall hereby be reduced by 50 percent as of April 1,
1997. The parties expressly agree to this change in the applicable credit
agreements. Upon termination of the Forbearance Agreement, the amortization
payments provided for in the credit agreements shall be resumed at the dates
specified; the credit agreements will then again be subject to termination in
accordance with the terms specified therein.
(Section 3 unchanged)
(Section 4 unchanged)
ARTICLE 2. (FORBEARANCE ACCORD)
Article 2.1 Availability of the credit limits
The Banks agree to make the credit limits referred to in Article 1.1 of this
Amendment 2 freely and completely available to the companies of the K-Tron Group
for the duration of this Forbearance Agreement for operational purposes.
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ARTICLE 2.2 (DEFERRAL OF CREDIT REPAYMENT DEMANDS)
Section 1 new
The Banks agree to defer repayment of the credits and credit tranches which come
due up to the termination of the Forbearance Agreement but not beyond March 31,
1999, as well as to defer the amortization payments on mortgages and fixed
advances which come due up to that time.
(Section 2 unchanged)
(Section 3 unchanged)
ARTICLE 6. (PERIOD OF THE AGREEMENT)
Section 1 new
The Forbearance Agreement of December 22, 1995, is extended to
March 31, 1999.
Moreover, Annex 2, which is an integral component of this Forbearance Agreement,
will continue in force until the conclusion of the reorganization and
restructuring of K-Tron (Switzerland) AG as defined in Section 4 of Annex 2.
(Sentence 2 unchanged)
(Section 2 unchanged)
(Section 3 unchanged)
(Section 4 unchanged)
Section 5 new
The K-Tron Group may not terminate this Forbearance Agreement prior to March 31,
1998.
The parties take note that the Union Bank of Switzerland (UBS) is discharged
from this Forbearance Agreement as of March 31, 1997. The UBS is in agreement
with this release.
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This Amendment 2 shall take effect as of April 1, 1997. The other terms of the
Forbearance Agreement, including Amendment 1, shall continue in force unchanged.
[signed:] Aarau 19-Dec-96 [signed]
------------------, --------- --------------------------------------
(Swiss Bank Corp. Aarau; leading bank)
[signed:] Aarau 17-Jan-97 [signed]
------------------, --------- --------------------------------------
(Credit Suisse)
[signed:] Bein 22-Jan-97 [signed]
------------------, --------- --------------------------------------
CREDIT SUISSE
[signed] Aarau 22-Jan-97 [signed]
------------------, --------- --------------------------------------
(Union Bank of Switzerland)
[signed:] Neuchatel, 5-Feb-97 [signed]
------------------, --------- --------------------------------------
(Banque Cantonale Neuchateloise)
[signed:] Zurich 7-Feb-97 [signed]
------------------, --------- --------------------------------------
(CS Immobilien Leasing Ltd.)
[signed:] Niederlenz, 18-Dec-96 [signed:] Lukas Gunthardt
------------------, --------- --------------------------------------
(K-Tron (Switzerland) AG)
[signed:] Pitman 2-Dec-96 [signed:] Xxxxxx X. Xxxxxxxx
------------------, --------- --------------------------------------
(K-Tron Asia Pacific Pte Ltd.)
[signed:] Pitman 2-Dec-96 [signed:] Xxx X. Xxxxx
------------------, --------- --------------------------------------
(K-Tron International, Inc.)
[signed:] Pitman 2-Dec-96 [signed:] Xxxxxx X. Xxxxxxxx
------------------, --------- --------------------------------------
(K-Tron Investment Co.)
