Term Loan Facility Agreement between GE Capital Services Pte Ltd and CombinatoRx (Singapore) Pte. Ltd.
GE Capital Services Pte Ltd is providing CombinatoRx (Singapore) Pte. Ltd. with two term loans: one for up to USD 778,871.04 for laboratory and scientific equipment over 48 months, and another for up to USD 457,331.66 for other equipment over 36 months. Both loans have interest rates based on the GE Treasury Cost of Funds plus 5.44%. Repayment is through equal monthly installments, with the first payment due at the start of the loan. All other terms from previous agreements remain in effect unless changed by this letter.
Exhibit 10.2
| GE Capital | |
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| GE Capital Services Pte Ltd |
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| 6 Temasek Boulevard #35-01 |
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| Suntec Tower Four |
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| Singapore 038986 |
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| T +65 6226 3822 |
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| F +65 6222 3681 |
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| Co. No. 199307961G |
23 January 2007
CombinatoRx (Singapore) Pte. Ltd.
11 Biopolis Way
Helios #08-05
Singapore 138667
| Attn : | Mr. Ralf Marius Altmeyer | |
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| Director |
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Dear Sir,
Term Loan Facility
Schedule Number 001 and 002 forming a part of the letter of offer dated 20 November 2006.
Schedule Number 001
| Loan limit | : | USD778,871.04 |
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| Tenure | : | 48 months for all new laboratory and scientific equipment |
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| Interest Rate | : | 5.44% + COF, (the COF is defined as USA Dollar GE Treasury Cost Of Fund, as of January, 2007 is 4.98% for 48 months COF) |
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| Repayment | : | The Term Loan shall be repaid over 47 equal monthly instalments of USD19,740.24 each and a final instalment of USD19,740.31, the first instalment of which is due and payable on commencement of the loan and thereafter, on the first day of each succeeding month until the whole of the Loan has been paid in full. |
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| Schedule Number 002 |
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| Loan limit | : | USD457,331.66 |
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| Tenure | : | 36 months for all other Equipment |
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| Interest Rate | : | 5.44% + COF, (the COF is defined as USA Dollar GE Treasury Cost Of Fund, as of January, 2007 is 5.01% for 36 months COF) |
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| Repayment | : | The Term Loan shall be repaid over 35 equal monthly instalments of USD14,725.38 each and a final instalment of USD14,725.48, the first instalment of which is due and payable on commencement of the loan and thereafter, on the first day of each succeeding month until the whole of the Loan has been paid in full. |
Save for the above variation, all other terms and conditions in our previous letter(s) of offer, as may from time to time be varied or supplemented or otherwise modified, shall remain binding and in full force.
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Kindly confirm your acceptance by signing on the duplicate of this letter and returning it within seven (7) days from the date hereof, unless an extension has been granted.
Yours faithfully,
| /s/ Arie Hendradjat |
| /s/ Evelyn Chia |
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| Arie Hendradjat |
| Evelyn Chia | |
| Senior Risk Manager |
| Chief Risk Officer | |
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Encl.
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| To: GE CAPITAL SERVICES PTE LTD |
We accept and agree to the foregoing terms and conditions stated herein this Schedule Number 001 and 002.
For And On Behalf Of
COMBINATORX (SINGAPORE) PTE. LTD.
| /s/ Ralf Altmeyer |
| February 14, 2007 |
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| Authorised signature and company’s stamp |
| Date | |
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