Addendum No. 1 to Loan Agreement Between RefuSol GmbH and Commerzbank AG (Cancellation of Joint Liability of REFU Elektronik GmbH)

Contract Categories: Business Finance › Loan Agreements
Summary

This addendum modifies the original loan agreement dated February 1, 2011, between RefuSol GmbH (the Borrower) and Commerzbank AG (the Bank). It cancels the joint liability of REFU Elektronik GmbH under the loan, updates the credit commission to 0.25% per year payable monthly, and confirms that all other terms of the original agreement remain unchanged. The addendum is effective upon signature by both parties and receipt of the signed document by the Bank, with the offer valid until March 9, 2011.

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EX-10.12 6 exhibit1012addendumtocomme.htm EXHIBIT 10.12 Exhibit 10.12 Addendum to Commerzbank





ADDENDUM NO. 1 PERTAINING TO THE LOAN AGREMENT

(Cancellation of Joint Liability of REFU Elektronik GmbH)

The following Addendum pertaining to the Loan Agreement dated February 1st, 2011 for Cancellation of the Joint Liability of REFU Elektronik GmbH is hereby concluded between

RefuSol GmbH
Uracher Straße 91
D-72555 Metzingen

hereinafter referred to as “Borrower” - and

Commerzbank Aktiengesellschaft
Filiale Reutlingen
Unter den Linden 1
D-72762 Reutlingen

hereinafter referred to as “Bank” -





1.     Joint Liability

1.1     The joint liability of REFU Elektronik GmbH, Marktstraße 185, D-72793 Pfullingen is hereby cancelled.

2.     Further Modifications

2.1     Item 3.4 of the Loan Agreement is modified as follows:

The Bank shall charge the Borrower a credit commission to the value of 0.25% p.a. on the loan amount upon closure of the contract. The credit commission is payable on the last day of every month.

3.     Other Agreements

All other agreements contained in the Loan Agreement dated February 1st, 2011, remain unchanged.

4.     Contractual obligations of the Bank / Implementation of the Addendum

The Bank is bound to the offer proposed in this Addendum until March 9th, 2011.

After signature by the Bank, the aforementioned Addendum to the Loan Agreement dated February 1st, 2011 shall only be implemented after the Bank has received the Borrower's legally signed ordinal of the Addendum.


Reutlingen, February 9, 2011
 
/s/ Commerzbank Aktiengesellschaft - Filiale Reutlingen
(Place, Date)
 

 
 
 
Metzingen, February 16, 2011
 
/s/ Refusol GmbH
(Place, Date)