Barclays Bank Line of Credit and Trade Discount Facility Agreement with Interparfums (June 1998)

Summary

Barclays Bank PLC, French Branch, confirms to Interparfums the adjustment of terms for a line of credit and trade discount facility, effective July 1, 1998. Interparfums is granted a 6,000,000 FRF line of credit and a 9,000,000 FRF trade discount, with specified interest rates tied to market benchmarks. The agreement allows Barclays to change rates based on market trends and outlines notice periods for reducing or terminating the facilities. The agreement replaces a previous letter from July 1, 1996, and remains in effect for an unspecified duration.

EX-10.81.1 12 c20397_10-811.txt CORRESPONDENCE Exh. 10.81.1 [logo] BARCLAYS 45, boulevard Haussmann - 75315 Paris Cedex 09 Telephone: 01 55 27 55 27 Fax: 01 55 27 50 01 [stamp] JUNE 08, 1998 INTERPARFUMS 4, Rond-Point des Champs Elysees 75008 PARIS Business Banking France Attention: Mr. Philippe SANTI French Multinational Team BD/EM - Tel: 01 55 27 58 27 [handwritten] Copy: PB Fax: 01 55 27 51 22 JGL Bach PS Paris, June 4, 1998 Gentlemen: In accordance with our agreement during our last meeting, we are pleased to confirm the adjustment of the terms of the facilities available to you. Please note that you have been granted: LINE OF CREDIT Amount: 6,000,000.00 FRF ------ Rate: T4M* + 0.80% ---- TRADE DISCOUNT Amount: 9,000,000.00 FRF ------ Rate: PIBOR** + 0.60% ---- Please also note that the new terms, below, will be effective as of July 1st, 1998: LINE OF CREDIT Amount: 6,000,000.00 FRF ------ Rate: T4M* + 0.60% ---- TRADE DISCOUNT Amount: 9,000,000.00 FRF ------ Rate: PIBOR** + 0.40% ---- We would like to clarify that the interest terms specified above are subject to change at any time, in accordance with base market trends. Barclays Bank PLC, French Branch - Headquarters: 45, boulevard Haussmann, 75009 Paris - [illegible] [logo] BARCLAYS Any modification of this base rate is applicable upon its reporting by the relevant departments of the Banque de France, or the Association Francaise des Banques [French Association of Banks], or any other financial or foreign authority, if applicable. As calculation of the overall effective rate is subject to the effective applications, it is possible to provide Fonly one example of calculation, for informational purposes (example attached for cash credits and discount credits). As these facilities are granted for an unspecified length of time, we would like to clarify that paragraph 1 of article 60 of law no. 84-46 of January 24, 1984, requires that we inform you of the periods of notice that we will observe in the eventuality that these facilities are reduced or removed: - - Thirty days for discount operations and assignment of receivables, - - Sixty days for other credits. This time period begins from the date the letter notifying our decision to interrupt or to reduce the aforementioned assistance is sent. This letter nullifies and replaces the letter dated July 1, 1996, and may in no way be combined with it. Very truly yours, /s/ Christine Laine /s/ Bertrand Duvivier - ------------------- ---------------------- Senior Analyst Senior Banking Executive *T4M: Average Monthly Money Market Rate **PIBOR: Paris Interbanking Offered Rate