EXHIBIT 10.1
AMENDMENT No. 1
to the
FRAMEWORK AGREEMENT FOR CREDIT PRODUCTS
(hereinafter referred to as “Framework Agreement”)
between
L. Kellenberger & Co. AG
Heiligkreuzstrasse 28, 9009 St. Gallen
(hereinafter referred to as “the Borrower”; date of the Borrower’s signature on the Framework Agreement: 17. June 2010)
and
CREDIT SUISSE AG
Mailing address: P.O. Box 358, 9001 St. Gallen
Contact address: St. Leonhardstrasse 3, 9000 St. Gallen
(the lender, hereinafter referred to as the “Bank”; date of the Bank’s signature on the Framework Agreement: 7. June 2010)
The Framework Agreement is herewith amended and / or modified as follows:
1. Negative Pledge Clause
The Negative Pledge Clause under Borrower’s Negative Obligations is fully deleted and replaced by the following clause
Borrower’s Negative Obligations | | · Negative Pledge Clause The Borrower undertakes, to the extent permitted by law, to refrain from providing new or additional collateral in favour of a third party to secure existing or future liabilities or the Borrower or a third party except cash credits up to an amount of CHF 5’000’000.00 secured by mortgage notes (“Namenschuldbriefe”) on Land Register Biel, no. 9443, Mohnweg 5, 2500 Biel/Bienne. |
2. Applicable Law and Place of Jurisdiction | | This Amendment No. 1 is subject to and shall be construed in accordance with Swiss law. The Borrower recognizes the exclusive jurisdiction of the courts of |
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| | Zurich or of the location of the branch of the Bank with which the contractual relationship exists. The Bank also has the right to bring legal action against the Borrower before any other competent court. |
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7. Issuance / Signing of this Agreement | | This Amendment No. 1 is drawn up in two copies. The Borrower and the Bank shall each receive one copy. |
CREDIT SUISSE AG | | | | L. Kellenberger & Co. AG | | |
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/S/ ARMIN SIGNER | | /S/ CHRISTIAN KUNZ | | /S/ JURG KELLENBERGER | | /S/ PETER HUERSCH |
Armin Signer | | Christian Kunz | | Jurg Kellenberger | | Peter Heursch |
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St. Gallen, 19. August 2010 | | | | St. Gallen, 31. August 2010 | | |
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