Re: Increase in Maximum Limit for Loan Credit Line Note
Exhibit 10.7
GK Hannover Inc. 00000 XX Xxxxxxxx Xxxxx Xxxxxxxx Xxxxxxx 000000 XXX |
September 27, 2010
Re: Increase in Maximum Limit for Loan Credit Line Note
Dear All:
Reference is made to that certain Loan Credit Line Note, dated December 31, 2009 (the “Loan Note”), between Greenwich Kahala Aviation Ltd. (“Borrower”) and GK Hannover Inc. (“Lender”). Capitalized terms used in this letter but not defined have the meanings set forth in the Loan Note.
For good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereby agree that the Principal Sum is hereby amended as of December 31, 2009, such that the reference to “US dollars two million” is hereby amended to read “US dollars two million nine hundred and fifty thousand”. This letter shall be governed by and construed in accordance with the law of the State of New York.
Kindly indicate your agreement by countersigning below.
Best regards,
/s/ Xxxxxxx X. Xxxxxx
Xxxxxxx X.
Xxxxxx
Chief Financial Officer
Greenwich Kahala Aviation Ltd
ACCEPTED BY OR ON BEHALF OF THE LENDER:
GK Hannover Inc.
By: /s/Xxxxxx Xxxxxxx
NAME: Xxxxxx Xxxxxxx
TITLE: Director
GK Hannover Loan - Amendment 1 (2)