Letter Agreement Regarding Increase of Line of Credit Between Deutsche Bank and IKS Klingelnberg
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Summary
Deutsche Bank has sent a letter to IKS Klingelnberg confirming its intention to increase the company's existing line of credit by $5,000,000, pending final approval from the bank's internal Credit Committee. The letter follows a recent discussion between the parties and expresses Deutsche Bank's expectation that the increase will be approved, aiming to further strengthen their business relationship.
EX-10.16 3 0003.txt LETTER AGREEMENT DEUTSCHE BANK & IKS KLINGELNBERG Translation of Letter Dated November 16, 1998 From: Deutsche Bank, Mr. Jakobi Blumenstrasse 13, 42849 Remscheid, Germany To: IKS Klingelnberg GmbH In der Fleute 18, 42897 Remscheid, Germany Increase of Lines of Credit Gentlemen: This is in reference to our discussion at your office on November 3. As requested, we confirm to you that we will increase the current line of credit by an amount of US$ 5,000,000.00 subject to the final approval of our internal Credit Committee. We expect that our Credit Committee will approve this increase and we look forward to strengthening our business relationship.
