EX-4.20



 Exhibit 4.20 

Mecantile Discount Bank Ltd. 

Meitar Branch 603 
 2
Hameyasdim Blvd. , Meitar 
 Tel: 076-8060300 Fax: 08-6512501 

 
 Date: July 2, 2014 

 

			
	For internal use by the Bank
	Customer Name	 	Verint Ltd.
	Primary Acct. No.	 	28995
	Follow up file number	 	 


 To 
 Verint Ltd.

 Priv. Corp. 511281354 
 Dear Sir/Madam,

 Re: Authorization of credit framework 

Account number 28995 
 As per your request
I hereby notify you that upon completion of the examination of the account documents, at your disposal in account number 28995 in the name of Viryanet Ltd., in the Meitar Branch will be a credit framework as follows: 

 

	1.	General conditions: 

 The consent of the Bank to allocate credit pursuant to the
framework detailed below is subject to: 

	 	1.1.	The fulfilling of your obligations to the Bank, as detailed in the Bank documents signed or that will be signed and the provision of all of the requisite guarantees, whether if explicit in this document or not, to the
Bank’s satisfaction. 


	 	1.2.	The Bank is permitted to change the sum of the framework and its terms, as well as to cancel it at any time according to its sole discretion. 


	 	1.3.	Neither this credit framework nor the authorization document constitute any kind of obligation by the bank, this obligation exists only with regard to specific agreements signed. 


 

	2.	Credit:  


	 	2.1.	Credit Items: 

  

					
	Credit Items	  	
The Sum (in NIS
 thous.)
	  	Notes/Limitations
	Overdraft ILS /foreign currency	  	1,300	  	 
	Short term loans up to 60 days	  	1,000	  	Against an invoice in the name of the American Subsidiary, that are endorsed to Viryanet (rate of financing 85% of the sum of the
invoice)
	Monetary and non-monetary guarantees	  	300	  	 
	Total Credit Framework	  	2,600	  	 


  
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 Mecantile Discount Bank Ltd. 

Meitar Branch 603 
 2
Hameyasdim Blvd. , Meitar 
 Tel: 076-8060300 Fax: 08-6512501 

 
  

	 	2.2.	Credit Terms:  

 For the allocation of credit the Bank will assess fees
and interest as is acceptable. 
  

	3.	Guarantees / Guarantors 

 In order to safeguard the credit the following assets
will be placed under lien to the Bank: 
  

	 	3.1.	Liquid Guarantees  

  

			
	Guarantee	 	Value
	Deposits and/or savings plans	 	1 million shekels

  

	 	3.2.	Guarantees and Guarantors 


	 	•	 	Personal guarantee signed by the Chairman of the Company, Shmuel Hacohen, with no limitation regarding the sum to guarantee the entire debt. 


	 	•	 	A guarantee from Jerusalem HiTech Founders Ltd. with no limitation regarding the sum to guarantee the entire debt. 

  

	 	3.3.	Special Terms / Agreements (such as” Financial relationship, capital benefit, ongoing lien etc.) 


	 	•	 	Undertaking to maintain accounting capital pursuant to the document dated 17/06/2014. 


	 	•	 	An undertaking for a capital benefit dated 12/06/2014. 


	 	•	 	A floating charge to guarantee any of the Company’s debt. 

  

	4.	Validity of the Authorization 


	 	4.1.	The aforementioned in this document is valid as long as it is not changed or cancelled as detailed in section 1.2 above and at the most for a period of a half year from this letter. 


	 	4.2.	This authorization invalidates any previous authorization. 

 Respectfully 

Mercantile Discount Bank Ltd. 
 



 
 Distribution: 

	1.	Customer 


	2.	Customer file in the commercial department‘ 


	3.	Customer file in the branch 


  
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