Credit Facility Contract dated February 4, 2008 between Danske Bank and Bark Copenhagen A/S for DKK 2,000,000 floating interest business
| Translation * Page 1 of 2 |
EXHIBIT 10.19
| Danske | Bank |
ADDENDUM TO CREDIT FACILITY CONTRACT
floating interest – business
Credit line increase
Borrower’s copy
| Page 1 of 2 | |
| Credit facility type: Business account | |
| Account: XXXXX | |
| Reference: 0026395860 |
| Lender | Danske Bank A/S | ||
| Borrower | Bark Copenhagen A/S | Customer number: | |
| Østergade 17, 3 th | 0026395860 | ||
| DK-1100 Copenhagen K | |||
| If there is more than one borrower, the terms and conditions of the contract shall apply to each borrower. | |||
| Credit line | Danske Bank A/S has granted an increase of of the borrower’s existing credit line, which | DKK | 1,000,000.00 |
| as at 25 January 2008 is | DKK | 1,000,000.00 | |
| The borrower’s new credit line is | DKK | 2,000,000.00 | |
| Formation expenses | Formation expenses | ||
| Commitment fee | DKK | 20,000.00 | |
| Loan transaction fee | DKK | 500.00 | |
| Total establishment costs to be debited to the account | DKK | 20,500.00 | |
| Addendum to credit facility contract | This addendum to the credit facility contract was entered into as a result of an increase in the credit line. | ||
| Repayment and duration of the credit | The credit facility shall be subject to renegotiation every year when the financial statements/annual report/annual statement from the Danish tax authorities are/is available. | ||
| The debt shall not exceed the current line of credit. | |||
| Interest, commission | Lending rate of interest | ||
| and fee | The borrower shall pay a floating interest rate on the borrowings under the credit facility. | ||
| The current rate of interest is 7.2500 per cent p.a. | |||
| Translation * Page 2 of 2 |
| Page 2 of 2 | |
| Account: XXXXX | |
| Reference: 0026395860 |
| Deposit rate of interest | |||
| The bank shall pay a floating interest rate on any account balance. The interest rate shall correspond to Danske BID for DKK with a variable deduction fixed by the bank, currently 0.6500 percentage points. | |||
| On 25 January 2008, Danske BID for DKK is 4.25 per cent p.a. Danske BID is variable and fixed by the bank every business day with effect from that same day. | |||
| Commission | |||
| The borrower shall pay a variable commission on the credit line as fixed by the bank. | |||
| The current rate of commission is 0.0000 per cent p.a. |
| ||
| Changes | |||
| The bank may change the floating lending rate of interest in accordance with its General Terms and Conditions of Business. | |||
| The deposit rate of interest shall be changed in accordance with any changes to Danske BID. | |||
| The bank may change the floating interest rate supplement/deduction in accordance with its General Terms and Conditions of Business. | |||
| The bank may change the floating commission rates in accordance with its General Terms and Conditions of Business. | |||
| Other terms and conditions | In all other respects, the provisions of the credit facility contract shall remain unchanged. | ||
| Borrower’s signature | By signing this document, the borrower declares to owe Danske Bank A/S the borrowings under the credit facility from time to time plus interest, commission and any fees and costs. | ||
| If there is more than one borrower, the borrowers shall be jointly and severally liable. | |||
| At the same time, the borrower acknowledges receipt of a copy of the credit facility contract. | |||
| [handwritten: 4 Feb. 2008] | |||
| Date | |||
| /s/ Jesper Svane /s/ Bent Helvang | /s/ Maria Brabrand | ||
| Binding signature | Witness | ||
| Bark Copenhagen A/S | |||
