Overdraft and Spot Credit Authorization Agreement between Banque OBC and Inter Parfums SA (July 31, 1998)

Summary

Banque OBC confirms to Inter Parfums SA that its Credit Committee has approved a credit line of 10 million French Francs for overdraft and spot transactions. The overdraft will accrue interest at the average monthly money market rate plus 0.60%, and spot transactions at the Pibor usance rate plus 0.50%. These rates may change with the base rate. Inter Parfums SA must accept the terms by signing and returning the letter. This agreement outlines the financial terms and conditions for accessing the credit line.

EX-10.83.1 16 c20397_ex10-851.txt CORRESPONDENCE Exhibit 10.83.1 [logo] BANQUE OBC - ODIER BUNGENER COURVOISIER INTER PARFUMS SA 4, rond-point des Champs Elyseesuthier [sic] 75008 PARIS July 31, 1998 Christine PENIN Loan Department Tel: 01 45 02 44 12 Gentlemen: This is to confirm that out Credit Committee has agreed to keep the overall authorization line for overdraft and spot, in accordance with the following terms: Amount: 10,000,000.00 F (TEN MILLION FRENCH FRANCS) - ------ Financial Terms: - --------------- - - for overdraft: agios deducted by calendar quarter at the average monthly money market rate (currently 3.3771% per year) plus 0.60 percent; this rate varies depending on the base rate, payable when due, - - for spot: agios deducted at the Pibor usance rate discount, plus 0.50 percent; this rate varies depending on the base rate. Please indicate your agreement to the terms of this letter by sending us a copy, duly initialed and with the handwritten note "agreement given by," followed by the signature of an authorized person. Very truly yours, BANQUE OBC - ODIER BUNGENER COURVOISIER /s/ Cecile Sornin /s/ Catherine Hongnat ----------------- --------------------- [illegible letterhead]