Annex 1 to Guarantee Agreement between IPG Laser GmbH and Deutsche Bank AG (March 5, 2009)
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Summary
This annex outlines the allocation of a €15 million umbrella credit facility provided by Deutsche Bank AG to IPG Laser GmbH and its subsidiaries. It specifies the credit lines available to various subsidiaries in Germany, Italy, and Russia, all guaranteed by IPG Laser GmbH. IPG Photonics Corporation, as guarantor, agrees to the changes in facility allocations and waives the right to separate notifications of future changes, as long as allocations to subsidiaries do not exceed €9 million. The agreement is signed by authorized representatives of both IPG Laser GmbH and IPG Photonics Corporation.
EX-10.28 3 b73458ipexv10w28.htm EX-10.28 ANNEX 1 DATED MARCH 5, 2009 exv10w28
Exhibit 10.28
Annex 1 to the guarantee dated October 10, 2007 in the amount of EUR 15 Mio. By IPG Laser
GmbH, Burbach
GmbH, Burbach
The following branches and subsidiaries of Deutsche Bank AG have entered into a business relationship with subsidiaries of IPG Laser GmbH.
In this context, subsidiaries of IPG Laser GmbH may draw funds within the EUR 15,000,000.—umbrella credit facility dated Oct. 10, 2007 based on the borrower’s guarantee in the amount of EUR 15,000,000.—as listed below:
| Amount | ||||||||||||||||||
| DB | Local | (in k | Cash / | |||||||||||||||
| Debtor | branch/subsidiary | currency | currency) | discount | Guarantee | total | ||||||||||||
Total credit facilities IPG Laser GmbH – group, thereof | 12.000 | 3.000 | 15.000 | |||||||||||||||
| if not | Exchange value in k Euro | |||||||||||||||||
IPG Laser GmbH, Burbach | Siegen | 8.000 | 3.000 | 11.000 | ||||||||||||||
Credit lines under guarantee of IPG Laser GmbH | ||||||||||||||||||
IPG Fibertech S.r.l., Via Pisacone, 46, 20025 Legnano (MI), Italy | Deutsche Bank Spa, Milano Italy | 1.000 | 1.000 | |||||||||||||||
IRE-Polus NTO, 141190, Fryazino, pl. Vvedenskogo, Russua | Deutsche Bank Ltd., Moscow, Russia | 3.000 | 3.000 | |||||||||||||||
Total Credit lines based on the borrower’s guarantee | 12.000 | 3.000 | 15.000 | |||||||||||||||
Burbach, dated March 5, 2009
IPG Laser GmbH
/s/ Valentin P. Gapontsev | ||
legally binding signatures |
Being guarantor we agree with the above mentioned changes of the facilities within the Credit Facility Agreement dated Oct. 10, 2007 between IPG Laser GmbH and the bank regarding the Umbrella Facility in the amount of EUR 15 million. Further we agree with all future changes within the Umbrella Facility and waive separate information thereof, provided that the allocation to subsidiaries of IPG Laser GmbH does not exceed an aggregate the amount of EURO 9 million (cash/discount and / or guarantees).
Burbach, dated March 5, 2009
IPG Photonics Corporation
/s/ Timothy P.V. Mammen | ||
legally binding signatures |
