Common Contracts
2 similar Debt Restructure Agreement contracts by Elbit Vision Systems LTD
ENGLISH SUMMARY OF THE DEBT RESTRUCTURE AGREEMENT (ORIGINAL LANGUAGE – HEBREW)Debt Restructure Agreement • December 23rd, 2010 • Elbit Vision Systems LTD • Industrial instruments for measurement, display, and control
Description: Letter Agreement pursuant to which Bank Hapoalim Ltd. (the "Bank"), within the framework of the sale of ScanMaster Ltd., agrees to waive up part of EVS' existing debt to the Bank and restructure the repayment of the remaining debt, pursuant to EVS fulfilling certain conditions. Debt Balance EVS confirms its Debt Balance to the Bank is NIS 44,673, $231,411 and €12,000. EVS will pay the Bank $112,000 towards the Debt Balance. Additionally, all funds in EVS' account with the Bank will be applied towards the Debt Balance. Loan A - Terms and Interest The Bank will loan $448,000 to EVS, the loan will be for 5 years, with principal repayable in equal consecutive monthly payments commencing January 31, 2011, and interest of LIBOR+4.47% repayable in consecutive monthly payments commencing July 31, 2010, for the outstanding principal, as it may be at every payment date. Loan B - Terms and Interest Additionally, the Bank will loan $105,000 to EVS, to be applied to any part of the Deb
ENGLISH SUMMARY OF THE DEBT RESTRUCTURE AGREEMENT (ORIGINAL LANGUAGE – HEBREW)Debt Restructure Agreement • July 15th, 2010 • Elbit Vision Systems LTD • Industrial instruments for measurement, display, and control
Description: Letter Agreement pursuant to which Bank Hapoalim Ltd. (the "Bank"), within the framework of the sale of ScanMaster Ltd., agrees to waive up part of EVS' existing debt to the Bank and restructure the repayment of the remaining debt, pursuant to EVS fulfilling certain conditions. Debt Balance EVS confirms its Debt Balance to the Bank is NIS 44,673, $231,411 and €12,000. EVS will pay the Bank $112,000 towards the Debt Balance. Additionally, all funds in EVS' account with the Bank will be applied towards the Debt Balance. Loan A - Terms and Interest The Bank will loan $448,000 to EVS, the loan will be for 5 years, with principal repayable in equal consecutive monthly payments commencing January 31, 2011, and interest of LIBOR+4.47% repayable in consecutive monthly payments commencing July 31, 2010, for the outstanding principal, as it may be at every payment date. Loan B - Terms and Interest Additionally, the Bank will loan $105,000 to EVS, to be applied to any part of the Deb
