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Antwerpse Diamantbank NV
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Free
translation
Confidential
Antwerpen, 30th December 2005
LAZARE KAPLAN BELGIUM (LKB) NV
Hoveniersstraat 30 bus 162
B-2018 ANTWERPEN 1
This letter replaces our confirmation letter dated 5th October
2001.
Dear Sirs,
Referring to our recent conversations we have the pleasure to
confirm that our
bank is willing to continue the existing bankrelation and credits,
with
retention of the existing guarantees and collaterals, without debt
novation and
subject to the modalities and conditions as stipulated here
below.
1. Amount
A credit
of a countervalue of maximum 25.000.000 US$ (twenty-five million
US
dollar).
Drawings will only be permitted in US dollar and Euro.
2. Utilisation forms
and modalities
In
principle the aforesaid credit is only to be utilised for
overdrafts in
current
accounts. Utilization, other than overdrafts in current
accounts
(e.g.
straight loans, discount, bank guarantees issued by us, forward
contracts,
...), as well as utilization not directly connected to your
diamond
activities, always require a preliminary and explicit consent of
our
bank.
This
credit is to be utilised according to the modalities as
specified
in annexe
1.
3. Interest
conditions
With
regard to the overdrafts in current accounts, following interests
and
provisions
will be charged: debt interest: for utilization in EUR: base
rate
EUR-ADB (presently 3,50% per annum) increased with 0.60% per annum,
for
utilization in USD: Libor USD fixing 3 months increased with 1,60%
per
annum. overdraft provision:
nil.
Changes in
aforesaid base rates will be communicated as the occasion
arises,
either by
letter or by computer generated message.
With
regard to possible utilization as overdrafts in current account
in
other
currencies than BEF or USD and utilization other than overdrafts
in
current
account, the debit interest and/or commission will be fixed the
moment
this utilization is authorized.
As well as
for possible overdrawing of credit facilities (cfr article 6 of
our
General Credit Granting Conditions) or in case of insufficient
collateral(s) (cfr "utilisation modalities" in present letter), the
Bank has
the right
to increase aforesaid conditions with maximum 0,50%.
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Pelikaanstraat 54 o B-2018 Antwerpen o Belgium
tel +32 (0)3 204 72 04 o fax +32 (0)3 233 90 95 o
telex 31673 ADIABA B o Swift ADIA BE 22
BTW BE 0404 465 551 RPR-Antwerpen o P.R. 000-0018639-15
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p 2
Antwerpen, 30th December 2005
LAZARE KAPLAN BELGIUM (LKB) NV
Hoveniersstraat 30 bus 162
B-2018 ANTWERPEN 1
4. General
Conditions
The
granting of this credit is governed by our General Conditions
for
Banking
Operations(1) and by our General Credit Granting Conditio
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