(Operation Number 36371)
relating to the
LOAN AGREEMENT DATED 21 JULY, 2006
(as amended by an Amendatory Letter Agreement dated 16 November, 2006)
CENTRAL EUROPEAN MEDIA ENTERPRISES LTD.
FOR RECONSTRUCTION AND DEVELOPMENT
Dated August 22, 2007
SUPPLEMENTAL LOAN AGREEMENT
SUPPLEMENTAL LOAN AGREEMENT (this “Supplemental Agreement”) dated August 22, 2007 between CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. a company incorporated and existing under the laws of Bermuda (the "Borrower"), and the EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT, an international organisation formed by treaty ("EBRD").
(A) This Supplemental Agreement is supplemental to a Loan Agreement dated 21 July, 2006, as amended by an Amendatory Letter Agreement dated 16 November, 2006 (together the "Original Loan Agreement") made between the Borrower and EBRD, whereby EBRD agreed to lend to the Borrower a maximum aggregate principal amount not to exceed €100,000,000 consisting of:
(B) By a loan agreement dated on or about the date hereof (the “New Loan Agreement”) between the Borrower and EBRD, EBRD has agreed to lend to the Borrower a maximum aggregate additional principal amount of €50,000,000, consisting of:
(C) The Parties have agreed to amend the Original Loan Agreement.
NOW IT IS HEREBY AGREED as follows:
ARTICLE I – INTERPRETATION
Section 1.01. Definitions
Terms defined in the Original Loan Agreement shall, unless otherwise defined or the context otherwise requires, have the same meanings in this Supplemental Agreement.
Section 1.02. Interpretation
(a) In this Supplemental Agreement, the headings are inserted for convenience of reference only and shall not affect the interpretation of this Supplemental Agreement.
(b) Subject to the provisions contained herein, the Original Loan Agreement shall remain in full force and effect and this Supplemental Agreement and the Original Loan Agreement shall be read and construed as one document and any reference therein to "herein", "hereunder", the "Loan Agreement", "this Agreement" and similar expressions shall be read and construed as a reference to the Original Loan Agreement as amended by this Supplemental Agreement and references in the Original Loan Agreement to representations or to other provisions contained in the Original Loan Agreement shall be read and construed as including references to representations and other provisions contained in this Supplemental Agreement.
(c) This Supplemental Agreement constitutes a Financing Agreement.
ARTICLE II – AMENDMENTS TO ORIGINAL LOAN AGREEMENT
Section 2.01. Amendments to Original Loan Agreement
It is hereby agreed that with effect on and from the date hereof the Original Loan Agreement is amended as follows:
" “Margin” means 1.625% per annum.";