ADDENDUM TO THE LOAN AGREEMENT DATED JUNE 11, 2009 (The: “Loan Agreement”)
Exhibit 99.2
ADDENDUM
TO THE LOAN AGREEMENT
DATED JUNE 11, 2009
(The: “Loan Agreement”)
Between Stins Xxxxx Incorporated (The: “Lender”), and Rit Technologies Ltd. (the: “Borrower”)
THIS additional Addendun (the “Addendum”) is made and entered into as of the 17 day of February, 2010;
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WHEREAS
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The parties have signed the Loan Agreement on June 11, 2009, which was approved by RiT’s Audit Committee, Board of Directors and shareholders; and
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WHEREAS
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The parties wish to extend the timeframe during which RiT may draw any part of the loan under the terms of the Loan Agreement;
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NOW therefore, both parties agree as follows:
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1.
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Clause 1.6 of the Loan Agreement is amended and replaced with the following renewed clause:
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“(1.6.) A total term within which the Lender undertakes to provide the Borrower with any part of the loan, starts from the Effective Date and until 24 months (inclusive) thereafter (herein: the “Term”).”
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2.
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All other provisions in the Loan Agreement shall remain unchanged.
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IN WITNESS WHEREOF, the parties have executed this Addendum as of the date first above written.
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Stins Xxxxx Incorporated
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By: Xxxxxx Xxxxxxxx, President
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By: Avi Kovarsky, President & CEO
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