Document:

Exhibit

Exhibit 10.1

AMENDMENT NO. 2 dated as of January 25, 2019 (this “Amendment”), to the Credit Agreement dated as of December 29, 2017, as amended by Amendment No. 1 to Credit Agreement dated as of September 7, 2018 (as amended, amended and restated, extended, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”), among AMERICAN WOODMARK CORPORATION, a Virginia corporation (the “Borrower”), the lenders from time to time party thereto (the “Lenders”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as administrative agent (in such capacity, the “Administrative Agent”).
A.      Pursuant to the Credit Agreement, the Lenders have extended, and have agreed to extend, credit to the Borrower, in each case pursuant to the terms and subject to the conditions set forth therein.
B.      The Borrower has requested that the Administrative Agent and the Lenders agree to amend the Credit Agreement to make certain changes as set forth herein.
C.      In order to effectuate the foregoing, the Borrower, the Lenders party hereto (which such Lenders constitute at least the Lenders required to effect this Amendment in accordance with Section 12.2 of the Credit Agreement) and the Administrative Agent have agreed that the Credit Agreement be amended, on the terms and subject to the conditions set forth herein.
D.      Capitalized terms used but not defined herein shall have the meanings assigned to them in the Credit Agreement.
Accordingly, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows:
SECTION 1.  Amendment to the Credit Agreement.  Subject to the satisfaction of the conditions to effectiveness set forth in Section 3 hereof, the Credit Agreement is hereby amended as follows, effective as of the Amendment No. 2 Effective Date (as defined below):
(a)      Section 1.1 is hereby amended by adding the following defined term in the appropriate alphabetical order:
“Amendment No. 2 Effective Date” means January 25, 2019.
(b)      The definition of “Applicable Margin” in Section 1.1 of the Credit Agreement is hereby amended by replacing the chart that appears therein in its entirety with the chart below:

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	Pricing Level
	Total Funded Debt to EBITDA Ratio
	Applicable Margin for LIBOR Rate Loans
	Applicable Margin for Base Rate Loans
	Commitment Fee

	I
	Greater than 3.00 to 1.00
	2.00%
	1.00%
	0.25%

	II
	Greater than 2.75 to 1.00, but less than or equal to 3.00 to 1.00
	1.75%
	0.75%
	0.20%

	III
	Greater than 2.00 to 1.00, but less than or equal to 2.75 to 1.00
	1.50%
	0.50%
	0.175%

	IV
	Greater than 1.50 to 1.00, but less than or equal to 2.00 to 1.00
	1.25%
	0.25%
	0.15%

	V
	Less than or equal to 1.50 to 1.00
	1.00%
	0.00%
	0.10%

(c)      Section 9.3(m) of the Credit Agreement is hereby amended by striking the phrase “in an aggregate amount not to exceed the Cumulative Credit at such time”.
(d)      Section 9.6(f) of the Credit Agreement is hereby amended by replacing the phrase “2.50 to 1.00” as it appears therein with “2.75 to 1.00”.
(e)      Section 9.13 of the Credit Agreement is hereby amended as follows:
(i) paragraph (b) therein is hereby amended and restated in its entirety as follows:
(b) Maximum Total Funded Debt to EBITDA Ratio.  As of the last day of any fiscal quarter ending (i) after the Amendment No. 2 Effective Date through January 31, 2020, permit the Total Funded Debt to EBITDA Ratio to be greater than 3.50 to 1.00 and (ii) thereafter, permit the Total Funded Debt to EBITDA Ratio to be greater than 3.25 to 1.00; provided that, solely with respect to this Section 9.13(b), upon the consummation of a Qualified Acquisition, the then applicable Total Funded Debt to EBITDA Ratio shall increase to 3.75 to 1.00 as of the end of the fiscal quarter in which such Qualified Acquisition is consummated and the immediately following four (4) fiscal quarters thereafter.
(ii) paragraph (c) therein is hereby deleted in its entirety and replaced with “[Reserved].”.
SECTION 2.      Representations and Warranties.  The Borrower, as to itself and the Credit Parties, represents and warrants to the Administrative Agent and the Lenders that:
(a)      Each Credit Party has the right, power and authority and has taken all necessary corporate and other action to authorize the execution, delivery and performance 

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of this Amendment.  This Amendment has been duly executed and delivered by the duly authorized officers of each Credit Party and constitutes a legal, valid and binding obligation of each Credit Party, enforceable in accordance with the terms herein, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal Debtor Relief Laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies.
(b)      As of the Amendment No. 2 Effective Date and after giving effect to the transactions contemplated hereby:
(i)      The representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty is true and correct in all respects, on and as of the Amendment No. 2 Effective Date with the same effect as if made on and as of such date (except for any such representation and warranty that by its terms is made only as of an earlier date, which representation and warranty remains true and correct in all material respects as of such earlier date, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty remains true and correct in all respects as of such earlier date); and
(ii)      no Default or Event of Default has occurred and is continuing.
SECTION 3.      Conditions to Effectiveness.  This Amendment shall become effective, as of the date first written above, on the first date (such date, the “Amendment No. 2 Effective Date”) on which each of the following conditions is satisfied:
(a)      The Administrative Agent (i) shall have executed this Amendment and (ii) shall have received from the Borrower, each other Credit Party and Lenders (which such Lenders constitute at least the Lenders required to effect this Amendment in accordance with Section 12.2 of the Credit Agreement) either a counterpart of this Amendment signed on behalf of such party or evidence satisfactory to the Administrative Agent (which may include a facsimile transmission or transmission by electronic mail (in .pdf or .tif format)) that such party has signed a counterpart of this Amendment.
(b)      The Administrative Agent shall have received a certificate, dated the Amendment No. 2 Effective Date and signed by an authorized officer of the Borrower, confirming the accuracy of the representations and warranties set forth in Section 2 hereof.
(c)      The Administrative Agent shall have received payment from the Borrower, for the account of each Lender that shall have unconditionally and irrevocably delivered to the Administrative Agent (or its counsel) its executed signature page to this Amendment at or prior to 5:00 p.m., New York City time, on January 24, 2019, (i) an amendment fee equal to 0.05% of the amount of the Revolving Credit Commitments (whether used or unused) and outstanding Term Loans of such Lender under the Credit Agreement as of the 

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Amendment No. 2 Effective Date (for the avoidance of doubt, without giving effect to any increase therein on the Amendment No. 2 Effective Date) and (ii) an upfront fee equal to 0.15% of the amount by which the Revolving Credit Commitments and/or Term Loans of such Lender are increased on the Amendment No. 2 Effective Date.
(d)      The Administrative Agent shall have received, to the extent invoiced, payment or reimbursement of all fees and expenses (including reasonable fees, charges and disbursements of counsel) required to be paid or reimbursed by the Borrower under the Credit Agreement in connection with this Amendment.
The Administrative Agent shall notify the Borrower and the Lenders of the Amendment No. 2 Effective Date, and such notice shall be conclusive and binding.
SECTION 4.      Effect of this Amendment.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.  Nothing herein shall be deemed to entitle any Credit Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.  This Amendment shall apply and be effective only with respect to the provisions of the Credit Agreement specifically referred to herein.  Each of the parties hereto acknowledge and agree, for the avoidance of doubt that, from and after the Amendment No. 2 Effective Date, the Applicable Margin for all purposes of the Credit Agreement shall be determined in accordance with the provisions of the Credit Agreement as amended hereby and that, for any day prior to the Amendment No. 2 Effective Date, the Applicable Margin shall be determined in accordance with the Credit Agreement prior to giving effect to this Amendment.  After the Amendment No. 2 Effective Date, any reference to the Credit Agreement shall mean the Credit Agreement as modified hereby.  This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents. 
SECTION 5.      Counterparts.  This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other customary means of electronic transmission (e.g., “pdf”) shall be as effective as delivery of a manually signed counterpart of this Amendment.
SECTION 6.      Governing Law; Waiver of Jury Trial; Service of Process; Judgment Currency.  THE PROVISIONS OF SECTION 12.5 (GOVERNING LAW; JURISDICTION, ETC) AND SECTION 12.6 (WAIVER OF JURY TRIAL) OF THE CREDIT AGREEMENT SHALL APPLY TO THIS AMENDMENT, mutatis mutandis.

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SECTION 7.      Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
[The remainder of this page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed under seal by their duly authorized officers, all as of the day and year first written above.
	
		
	AMERICAN WOODMARK CORPORATION, as Borrower

	By:

	 
	/s/ M. Scott Culbreth

	 
	Name:  M. Scott Culbreth

	 
	Title:  Senior Vice President and Chief Financial Officer

	
		
	AMENDÉ CABINET CORPORATION, as a Credit Party

	By:

	 
	/s/ M. Scott Culbreth

	 
	Name:  M. Scott Culbreth

	 
	Title:  President

	
		
	COMPLETE KITCHENS LLC, as a Credit Party

	By:

	 
	/s/ S. Cary Dunston

	 
	Name:  S. Cary Dunston

	 
	Title:  President

	
		
	RSI HOME PRODUCTS, INC., as a Credit Party

	By:

	 
	/s/ M. Scott Culbreth

	 
	Name:  M. Scott Culbreth

	 
	Title:  Chief Financial Officer

	
		
	PROFESSIONAL CABINET SOLUTIONS, as a Credit Party

	By:

	 
	/s/ M. Scott Culbreth

	 
	Name:  M. Scott Culbreth

	 
	Title:  Chief Financial Officer

[Signature Page to Amendment No. 2]

	
		
	RSI HOME PRODUCTS MANAGEMENT, INC., as a Credit Party

	By:

	 
	/s/ M. Scott Culbreth

	 
	Name:  M. Scott Culbreth

	 
	Title:  Chief Financial Officer

	
		
	RSI HOME PRODUCTS MANUFACTURING, INC., as a Credit Party

	By:

	 
	/s/ M. Scott Culbreth

	 
	Name:  M. Scott Culbreth

	 
	Title:  Chief Financial Officer

	
		
	RSI HOME PRODUCTS SALES, INC., as a Credit Party

	By:

	 
	/s/ M. Scott Culbreth

	 
	Name:  M. Scott Culbreth

	 
	Title:  Chief Financial Officer

[Signature Page to Amendment No. 2]

	
		
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Swingline Lender, Issuing Lender and Lender,

	By:

	 
	/s/ Dermaine Lewis

	 
	Name:  Dermaine Lewis

	 
	Title:    Senior Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution: BMO HARRIS BANK N.A. 
	
		
	By:

	 
	/s/ Thomas Hasenauer

	 
	Name:   Thomas Hasenauer

	 
	Title:   Director

For any Lender requiring a second signature block:
	
		
	By:

	 
	 

	 
	Name:   

	 
	Title:   

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  Citizens Bank, N.A. (as successor by merger to Citizens Bank of Pennsylvania
	
		
	By:

	 
	/s/ Pamela Hansen

	 
	Name:   Pamela Hansen

	 
	Title:   Senior Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  SunTrust Bank
	
		
	By:

	 
	/s/ Mary K. Lundin

	 
	Name:   Mary K. Lundin

	 
	Title:   Director

For any Lender requiring a second signature block:
	
		
	By:

	 
	 

	 
	Name:   

	 
	Title:   

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  CAPITAL ONE, N.A.
	
		
	By:

	 
	/s/ Travis B. Maxwell

	 
	Name:   Travis B. Maxwell

	 
	Title:   Managing Director

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  COMPASS BANK
	
		
	By:

	 
	/s/ Jay Tweed

	 
	Name:   Jay Tweed

	 
	Title:   Senior Vice President

For any Lender requiring a second signature block:
	
		
	By:

	 
	 

	 
	Name:   

	 
	Title:   

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  FIFTH THIRD BANK
	
		
	By:

	 
	/s/ Jonathan James

	 
	Name:   Jonathan James

	 
	Title:   Managing Director

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  MUFG Union Bank, N.A.
	
		
	By:

	 
	/s/ Yao Wong

	 
	Name:   Yao Wong

	 
	Title:   Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  PNC BANK, NATIONAL ASSOCIATION
	
		
	By:

	 
	/s/ David Notaro

	 
	Name:   David Notaro

	 
	Title:   Senior Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  REGIONS BANK
	
		
	By:

	 
	/s/ Brand Hosford

	 
	Name:   Brand Hosford

	 
	Title:   Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution: US BANK, NATIONAL ASSOCIATION
	
		
	By:

	 
	/s/ Sean P. Walters

	 
	Name:   Sean P. Walters

	 
	Title:   Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  Branch Banking and Trust Company
	
		
	By:

	 
	/s/ Trevor H. Williams

	 
	Name:   Trevor H. Williams

	 
	Title:   Assistant Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  First National Bank of Pennsylvania
	
		
	By:

	 
	/s/ Charles W. Jones

	 
	Name:   Charles W. Jones

	 
	Title:   Senior Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  TD BANK, N.A.
	
		
	By:

	 
	/s/ Craig Welch

	 
	Name:   Craig Welch

	 
	Title:   Senior Vice President

[Signature Page to Amendment No. 2]

LENDER SIGNATURE PAGE TO 
AMENDMENT NO. 2
AMERICAN WOODMARK CORPORATION

Name of Institution:  Union Bank & Trust
	
		
	By:

	 
	/s/ Charlie Vaughters

	 
	Name:   Charlie Vaughters

	 
	Title:   Director – Corporate Banking

[Signature Page to Amendment No. 2]Exhibit 10.2

 

 

 

10 JUL 2018 

 

CONFIDENTIAL

 

PGCG Assets Holdings Sdn. Bhd.

E-5-2 Block E

Megan Avenue I

Jalan Tun Razak

50450 Kuala Lumpur

 

Dear Sir/Madam

 

Application for
Financing Facility/ies

 

	Name of Applicant	:	PGCG
Assets Holdings Sdn. Bhd.
	Account No.	:	2-9777590-08
	AA No.	:	KLC/000212/18

 

We are pleased to advise
that your application for the financing facility/ies under Term Equity Financing-i/ShopSave-i III has been approved as
per Appendix I. The terms and conditions for the facility/ies are attached as per Appendices II, III, and IV. The Appendices shall
supplement and form part of this Letter of Offer.

 

We trust the above
offer is acceptable to you and would appreciate if you could confirm your acceptance by signing and returning to us this Letter
of Offer and all the Appendices within seven (7) days from the date hereof, failing which our offer shall be deemed to
have lapsed and cancelled.

 

Please note that the
appointed solicitors Messrs----------------------------------------Advocates & Solicitors will communicate with you
to proceed with the financing security documentation upon receipt of this duly signed Letter of Offer. You may however, select
any solicitor listed in the Bank's panel of solicitors (list of the panel solicitors is available at account holding branch) to
attend to the financing security documentation under advice to the account holding branch when you accept this Letter of Offer.
All costs and expenses relating to the same shall be borne by you.

 

It is our pleasure to be of service to you.

 

Yours truly

for PUBLIC ISLAMIC BANK BERHAD

 

 

 

 

    	 	1	 

     

    

	 	 
	 	 

        PGCG
        Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

(A/A No. KLC/000212/18)

 

 

	1.	I/We confirm that the contents of this Letter of Offer and the terms and conditions governing the financing as stipulated in this
Letter of Offer has been explained and understood by me/us. I/We confirm that all the terms and conditions of the facility/ies
herein are acceptable to me/us and I/we hereby accept the offer subject to the completion of the legal documentation required by
the Bank.

 

	2.	I/We confirm and undertake that I/we shall comply with the rules and regulations and the Shariah principles governing the facility/ies
throughout the financing period.

 

	3.	I/We hereby confirm and agree that he facility(ies) granted herein shall be subject always to the compliance with the Bank Negara
Malaysia Guidelines on Credit Transactions and Exposures with Connected Parties and the Public Bank Group's Credit Policy on Credit
Facilities and Exposures to Connected Parties. In this respect, I/we undertake to declare to the Bank in the event I/we or if
the Individual Guarantor / Corporate Guarantor and/or Charger / Assignor / Pledgor for the facilities granted herein is/are a
connected party as defined under the aforementioned Guidelines / Policy. I/We are aware that "connected party" refers
to the following:

 

		a.	Director / Controlling Shareholder / Influential Shareholder / Executive
Officer / Officer involved in credit functions and their close relatives (which include their parent / dependents / spouse / dependents
of spouse / child including step child and adopted child/spouse of the child/brother or sister and their spouses) of the Bank;

		b.	Firms / Partnerships / Companies or any legal entities which control/controlled by any person listed
in (a) above;

		c.	Firms / Partnerships / Companies or any legal entities in which any persons
listed in (a) above is interested as a director/ partner/ executive officer/ agent, and subsidiaries or entities controlled by
them;

		d.	Any person for whom the person listed in (a) above is a guarantor; and/or

		e.	Subsidiary of, or any entity controlled by the Bank, and its connected parties

 

I/We hereby undertake to
inform the Bank immediately in the event that any such relationship as stated above arises in the future. I/We further acknowledge
and agree that the Bank reserves the right to terminate / recall the facility(ies) granted here in the event I/we have failed to
make the appropriate and correct declaration, resulting the Bank contravening the aforementioned Guidelines/Policy.

 

	4.	I/We understand that in order to provide or continue to make available the facility/ies or for the purpose of recovering any outstanding
sums due and payable by me/us under the facility/ies, my/our personal or credit information may be disclosed to, shared with or
received from relevant third parties, bodies, bureaux, corporation or credit reporting agencies more particularly stated
below. The Bank will not be able to provide or continue to provide me/us with the facility/ies unless the Bank can disclose, share
with or receive such personal or credit information from the said relevant third parties.

 

	5.	I/We hereby consent and authorise that my/our personal and credit information may be forwarded or made known by the Bank to the
guarantors (if applicable) or the companies in the PBB Group including Public Bank Berhad and Public Investment Bank Berhad.

 

	6.	I/We hereby consent and authorise that all information relating to the facility/ies granted to me/us may be forwarded to any bureau
or agencies established or approved by Bank Negara Malaysia (BNM) or registered and licensed under the Credit Reporting Agencies
Act 2010 including the Central Credit Bureau, the Borrower Loans Information System, Dishonoured Cheque Information System (DCheqs),
Central Credit Reference Information System (CCRIS), FIS Data Reference Sdn Bhd (FIS), RAM Credit Information Sdn Bhd (RAMCI),
CTOS Data Systems Sdn Bhd (CTOS), Credit Bureau Malaysia Sdn Bhd (CBM), Dun & Bradstreet (Malaysia) Sdn Bhd (D&B), Basis
Corporation Sdn Bhd (Basis) and other such bodies, bureaux, corporations or credit reporting agencies, as the case may be, for
the purpose of collecting information from financial institutions regarding facilities granted or accounts maintained with such
financial institutions and/or review of the facility.

 

	7.	I/We hereby agree to pay all fees, charges and expenses, and any applicable tax payable, whether currently in force or to be implemented
and chargeable by law, including but not limited to Goods and Services Tax (GST) on such fees, charges and expenses in connection
with the facility/ies.

 

	PGCG ASSETS HOLDINGS SDN BFID

                           (Company No: 983271-U
	 
	 	 
	 	Date: 

         

	PGCG Assets Holdings Sdn. Bhd.

        Company No.: 983271-U
	 

 

 

    	 	2	 

     

    

 

	 	 

                           PGCG Assets
        Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

(A/A No. KLC/000212/18)

 

 

Appendix I

 

Details of Facility
Approved 

 

	Facility/ies Approved	
        Term Equity Financing-i
        	  
        
	 	 	 
	Facility Amount	A.  
        Term Equity Financing-i	RM50,000,000-00

        (Ringgit Malaysia : Fifty Million Only)
	 	 	 
	 	B.  
        Business Financing Term Takaful (if any)	RM     0-00

                                       (Ringgit Malaysia : Zero Only)
	 	 	 
	 	C.  
        Legal Cost (if any)	RM       0-00

        (Ringgit Malaysia : Zero Only)
	 	 	 
	 	Total Facility Amount	RM50,000,00-00

    (Ringgit Malaysia : Fifty Million Only)

 

	 	The facility/ies granted
by the Bank is to enable you to refinancing a property. Under this concept of Musharakah Mutanaqisah or Diminishing Musharakah,
the Bank will enter into a co-ownership agreement with you to acquire and own the Property with a view to progressively reducing
the Bank's ownership of the Property until you finally hold the full ownership of the Property.

 

The total facility/ies amount
as stated above shall constitute the Bank's initial capital contribution which shall be utilised for your acquisition of a specific
Property.

	 	 
	Purpose	The facility/ies shall be used to acquire the Property described herein. and subsequent thereto for the Bank to lease the Property to you under the contract of Ijarah. If the facility/ies or any part thereof is required for any other purpose, you shall have to obtain the Bank's prior written consent which consent shall be subject to the Bank's absolute discretion and upon such conditions as the Bank may impose.

 

Any dealings in respect of the Property shall
be subject to the terms of the Musharakah arrangement between you and the Bank. The Bank shall at all times have custody of the
issue document of title of the Property.

 

For the purpose of the Musharakah Mutanaqisah,
the initial capital contribution between the Bank and you shall be in the proportions as stated below.

  

	 	 	Bank	Customer
	 	Initial Acquisition Payment (RM)	RM50,000,000-00	RM40,000,000-00
	 	Initial Ownership Share in the Musharakah (%)	55.56%	44.44%

 

Page 3

 

    	 	 	 

     

    

 

	 	 

                           PGCG Assets
        Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

(A/A No. KLC/000212/18)

 

 

Appendix I

 

Details of Facility
Approved

 

	Financing	Ijarah Rate	Ijarah Period
	Rate / Pricing	 	 
	 	BFR - 1.50% p.a.	180 months
	 	 	 

 

	 	"BFR" refer
to the Base Financing Rate, as the case may be, representing the Bank's cost of financing as prescribed by the Bank from
time to time, currently at 6.97 % p.a. The Ijarah rate will be calculated at daily rest.

 

The effective date of the first year Ijarah Rate
is to commence one (1) month from the date of the Letter of Offer i.e. 12 months from the Letter of Offer date.

	 	 
	Ijarah Rentals	Payable
by 180 monthly payments of RM407,750-00 until full settlement of the financing.

 

Ijarah Rental may vary
according to the changes of Base Financing Rate IBF ) from time to time, currently at 6.97 % p.a.

 

The Ijarah Rental as stated
above shall comprise of the Ijarah payment and the price of the Bank's Musharakah unit.

 

Upfront fee of RM75,000-00 shall be levied.

	 	 
	Tenor	The tenor of financing under the Term Equity Financing-i will be for 180 months. At the end of this tenor
    and provided all the terms and conditions under the Term Equity Financing-i have been satisfactorily fulfilled, a Notice of
    Fulfillment shall be served to you to transfer the ownership of the Property financed under the Term Equity Financing-i to
    you.
	 	 

 

	Payment	1.1	Pending full release
of the facility/ies, the grace instalment equivalent to the monthly profit based on the amount disbursed shall be settled by the
first week of the following month. Non-payment of such profit shall be deemed an event of default.
	 	 	 
	 	1.2	The first instalment is to commence as follows:

 

		a.	For full release of financing facility which falls on the 1st to 10th of
the month, the first instalment is to commence on the 1st day of the following month.

		b.	For full release of financing facility which falls on the 11th to the last
day of the month, the first instalment is to commence on the 1st day of the 2nd subsequent month.

 

	 	 	The Bank shall be entitled, from time to time (both before and after judgement
    order) to vary at its discretion the spread and/or Base Financing Rate (BFR), as the case may be, in accordance
    with prevailing BNM guidelines. If and whenever there are variations to the Base Financing Rate (BFR), as the
    case may be, the Bank may at its absolute discretion make the followins adjustment consequent upon such variation, namely,
    either;

 

Page 4

 

 

 

    	 	 	 

     

    

 

	 	 

                           PGCG Assets
        Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

(A/A No. KLC/000212/18)

 

Appendix I

 

Details of Facility Approved

 

i.       
By varying the amount of any monthly payments; or

ii.      
By varying the number of the monthly payments.

 

	 	Notwithstanding the above, the facility/ies granted by the Bank is/are payable on demand.
	 	 	 
		2.	The Bank has the right to debit your savings/current account at any time
for any fees, charges and taxes payable including but not limited to the aforementioned processing fee, upfront fee and Goods and
Services Tax (GST) or any other applicable taxes.

 

		3.	All fees, charges and applicable taxes shall paid in be paid in full/settled before disbursement
of the Facility/ies.

 

	Availability Period	The
financing documentation must be completed and the facility/ies drawn down within three (3) months from the date of the Letter
of Offer or such extended time as the Bank may allow at its discretion, failing which the Bank has the right to immediately
cancel the facility/ies granted herein and recover all costs, fees and expenses incurred by the Bank for so doing.

 

	 	 	 	 
	Details of The Property	Property Type	:	A block of 16 storey boutique hotel building
	 	 	 	 
	 	Address	:	No. 160,
Jalan Ampang, 50450 Kuala Lumpur
	 	 	 	 
	 	Title	:	Individual Title Geran No. Hakmilik 10010, Lot 238 Seksyen 43, Bandar Kuala Lumpur, Daerah Kuala
Lumpur and Negeri Wilayah Persekutuan KL

 

 

	 	Registered under : PGCG Assets Holdings
Sdn. Bhd.
	 	 
	 	For Non-Residential Properties

                                    The Property is to be protected by takaful/insurance policy(ies) against fire, flood and other risks deemed necessary by the Bank with the Bank's panel of takaful operators/insurance companies for amount as advised by the valuer. You may however, select any takaful operator in the Bank's panel of takaful operators (list of the panel of takaful operators/insurance companies is available at the account holding branch) or any other takaful operator/ insurance company as the Bank may approve.

	 	 
	 	Escalation clause is applied for Fire Takaful certificate / Fire Insurance policy taken up
    with our Lonpac Insurance Bhd (Lonpac), wherein the sum covered shall be increased by 3% per annum [contribution rate
    as per prevailing Persatuan Insurans Am Malaysia (PIAM) Revised Fire Tariff] to avoid under covered due to increase of the
    reconstruction cost of the property at the current cost of the construction material.

 

 

Page 5

 

    	 	 	 

     

    

 

	 	 

                           PGCG Assets
        HOldings Sdn. Bhd.

        A/c No. 2-9777590-08

(A/A No. KLC/000212/18)

 

Appendix I

 

Details of Facility Approved

 

Notwithstanding the escalation
clause and in the event that the sum covered for the Fire Takaful certificate / Fire Insurance policy of the Participant for any
particular year is not increased for any reason whatsoever, the Fire Takaful certificate / Fire Insurance policy shall continue
to remain in full force and effect and the Bank shall not be held to have waived its rights to impose the escalation clause in
the future and to increase the sum covered and any delay or omission on the part of the Bank in taking any step to increase the
sum covered and/or to renew the Houseowner Certificate/policy shall not be held to prejudice its right in respect thereof nor shall
the Bank be held liable in any manner whatsoever for any such non-increase, delay or omission.

 

		Security	The facility/ies
                                         are to be secured by way of the following:
	 	 	 
	 	 	 Principal Instrument
	 	 	 
	 	 	1.       Musharakah
Mutanaqisah Master Agreement
	 	 	 
	 	 	Subsidiary Instrument
	 	 	 
	 	 	

1a)
  Where security is taken over property with individual title / strata title 

 

		§	A registered open all monies 1st party charge stamped nominally over
the property known as No. 160, Jalan Ampang, 50450 Kuala Lumpur held under Individual Title Geran No. Hakmilik 10010,
Lot 238 Seksyen 43, Bandar Kuala Lumpur, Daerah Kuala Lumpur and Negeri Wilayah Persekutuan KL

 

		§	Any other security documents as required by the Bank

 

	 	 	2.       Assignment
of Rental 

 

	 	3.1	
Legal Assignment of Rental Proceeds is to be created over property known as No. 160, Jalan Ampang, 50450 Kuala Lumpur.
	 	 	 
	 	3.2	The Deed of Assignment of Rental Proceeds will be served to the tenant(s) (if subject Property is tenanted) prior to release or
upon completion of Memorandum of Transfer (for sub-sale cases) whichever applicable.

 

 

 

 

 

 

 

 

 

 

Page 6

 

 

    	 	 	 

     

    

 

 

	 	 

                           PGCG Assets
        HOldings Sdn. Bhd.

        A/c No. 2-9777590-08

(A/A No. KLC/000212/18)

 

Appendix I

 

Details of Facility Approved

 

	 	 	3.   
        Debenture
	 	 	 
	 	 	A debenture creating a fixed and floating charge
over the assets of the customer, both present and future whatsoever and wheresoever situated.
	 	 	 
	 	 	4.   
Guarantees 
	 	 	 
	 	 	i)    
Joint and Several Guarantee 
	 	 	 
	 	 	The Facility is to be additionally guaranteed
jointly and severally by all directors of the company present and future and/or the personal guarantee of the following:

 

	 	 	No.	Name	Identity Card No.
	 	 	1)	Wong Weng Kung	720909-08-5057/A2271732

 

	 	 	The Bank has the absolute rights to vary this
requirement of guarantors at all times.
	 	 	 
	 	 	ii)  
Corporate Guarantee
	 	 	 
	 	 	The facility is to be corporate guaranteed by
Union Hub Technology Sdn. Bhd. (807388-P).
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

 

 

 

 

 

 

 

 

 

Page 7

 

    	 	 	 

     

    

 

 

		PGCG Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix
II

 

	 	Term Financing Facility Linked to Current Account-i under ShopSave-i III Financing Package
	 	 	 
		1.	The term financing facility shall be linked to one (1) non-profit bearing Islamic
current account-i ("the designated account").

 

		2.	You are eligible to apply for the Bank's ATM BankCard, cheque book and internet
banking services for the designated current account-i. The designated current account-i must not have any Cash Line Facility-i
or financing facility linked to it.

 

		3.	The designated account must be opened and maintained solely in your name. A
current account-i in the name of a third party or in your name with another is strictly not allowed to be linked to the term financing
account.

 

		4.	The term financing account and the designated current account-i must be maintained
with the same Branch of the Bank.

 

		5.	For the purpose of computing the profit on the term financing, the outstanding
Bank's Sale Price will be reduced in proportion to the balance in the designated current account-i subject to the following :-

 

	 	5.1	The reduction for the outstanding Bank’s
                           Sale Price shall commence upon first disbursement of the house financing; and
	 	 	 
		5.2	The computation of eligible balance in the designated account deductible against
outstanding financing amount is subject to whichever lower of:-

 

		i.	maximum capping of 70% on the balance in the designated account;

	 	 	 
	 	 	or
	 	 	 
	 	ii.	Outstanding
financing amount.

 

		6.	Profit due on the term financing will be calculated on daily rest based on outstanding principal balance.

 

		7.	Notwithstanding the reduction of the Bank's Sale Price, you shall continue
to service the monthly instalments via Standing Instruction.

 

		8.	A non- refundable one-off fee of RM200-00 (or such other amount as may be determined by the Bank)
must be paid upon your acceptance of the house financing facility.

 

		9.	A maintenance fee of RM10-00 or
                                         such other amount as may be determined by the Bank will be debited from the term financing
                                         account on a monthly basis from the date of first release of the term financing
                                         until full settlement of the Bank's Sale Price and all other payments due to the Bank.

 

		10.	The Bank reserves the right not to compute the Bank's Sale Price in proportion
to the balance in the designated current account-i in the event that the designated current account-i is closed/suspended due to
bad conduct or whatsoever reasons that the Bank may deem fit.
	 	 	 
	 	11.	The Bank reserves the right
to combine or consolidate all or any of your accounts with the Bank and set off or transfer any sum outstanding to the credit of
any one or more such accounts towards satisfaction of any of your liabilities with the Bank at any time with notice to you. The
Bank shall also have a lien over the security of any financing account/Facility/ies to cover your financing with the Bank or any
other account with the Bank under consolidation.
	 	 	 
	 	 	At the Bank's absolute discretion,
you also agree that the Bank will not be held responsible for any "returned cheque" in the event the current account-i
is short of funds due to the said set-off. The exercise by the Bank of its right under this clause shall be without prejudice
to any other rights or remedies available and you shall hold the Bank harmless for doing so.

 

Page 8

 

 

 

    	 	 	 

     

    

 

		PGCG Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix II

 

	 	SPECIFIC TERMS AND CONDITIONS FOR TERM EQUITY FINANCING-i
	 	 	 
	 	1.	The
financing amount shall be released directly to the developer/vendor or whichever party concerned through the lawyers on the Bank's
panel against the original/certified architect or engineer certificates on work completed and/or Redemption Statement provided
the difference between the financing amount and purchase price due to the vendor/developer has been settled by you.

	 	 	 
	 	2.	For
progressive financing releases where there is a Master Chargee, the Bank is authorised to release the financing as partial redemption
sum to the chargee bank in accordance with the terms of the Sales and Purchase Agreement assigned to the Bank.

 

	 	3.	a) 

	The change of the Base Financing Rate (BFR) and/or the Base Rate (BR) shall be notified by the Bank to the Customer(s) in the
following manner:

 

		 	i)	by placing in one issue of a daily national newspaper a general notice of change of the Base Financing
Rate (BFR) and/or the Base Rate (BR) addressed to the public generally; or
	 	 	 	 
	 	 	ii)	by posting a notice of such variation in the Bank's branch premises and the Bank's website.

 

	 	 	b)	The decision of the Bank as to what at any time is the Base Financing Rate (BFR) and/or the Base
Rate (BR), and the date(s) from which such amendment shall take effect, shall be final and conclusive and shall not be questioned
on any account whatsoever.

 

	 	4.	In
the event of default of the monthly instalment, the Bank reserves the right to impose actual compensation charges and you shall
be liable to pay to the Bank actual compensation in the following situations:

 

			

		a)	for failure to pay any instalments of the facility/ies from date of the first drawdown until
                                                               the date of the maturity of the facility/ies or on the outstanding balance, subject to rebate, if applicable. The ta 'widh (compensation)
                                                               rate that shall be applied is one per cent (1%) per annum on any overdue amount, or any such rate as approved by Bank Negara
                                                               Malaysia.

 

Formula for ta 'widh on overdue
instalment(s) is as follows:

 

	 	
        Overdue instalment(s) X
        ta 'widh rate X No. of Overdue day(s)

                     
        365
	 

 

 

		b)	please take note that if the account remains in arrears and upon recall of
the facility or brought to court for judgement before maturity date, late payment charge of 1% p.a. on the remaining outstanding balance will be imposed.

 

	 	
        Outstanding Balance X 1%
        X No. of Overdue day(s)

                     365
	 

 

		c)	for failure to pay any instalments and which failure continues beyond the maturity date of
                                                               the facility/ies, the compensation rate that shall be applied is the Bank's Average Financing Rate* (AFR) i.e. the
                                                               combination of (ta 'widh (the amount that may be compensated to the Bank based on the actual loss incurred due to
                                                               default) and gharamah (penalty charged on the defaulters over and above the ta’ widh) on the outstanding
                                                               balance or any such rate as approved by Bank Negara Malaysia.

 

The formula for late payment charge
after maturity is as follows:

 

	 	
        Outstanding balance X Average
        Financing Rate (AFR)# X No. of Overdue day(s)

                              365
	 
	 	#Also known
        as "Combined Rate"	 
	 	 	 	 

	 	d)	The Bank shall not compound the compensation
payable to the financing amount.

 

Page 9

 

 

 

    	 	 	 

     

    

 

		PGCG Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix II

 

SPECIFIC TERMS AND CONDITIONS
FOR TERM EOUITY FINANCING-i

 

		5.	The Bank has the right at any time without notice to you to debit your current
/ savings account with us towards payment of the monthly payment of the financing and any other charges and / or fees incurred
in the granting of the financing including takaful, quit rent, assessment, cost of an updated / revised valuation reports, fees
for searches, legal fees for preparation and perfection of security documents by Bank's solicitors, legal cost incurred in relation
to enforcement of security / recovery cost and any other cost or expenses incidental thereto.

 

		6.	You shall be responsible for all maintenance and repair of the Property as
lessee under the Ijarah Arrangement and Service Agency Arrangement and to procure takaful in respect of the Property.

 

		7.	Where you agree to participate in a Mortgage Reducing Term Takaful (MRTT)
and the contribution amount of the same is to be part financed by the Bank or borne solely by you, you hereby authorise the Bank
to debit the facility/ies account or any of your demand deposit accounts for the balance contribution amount or full contribution
amount, as the case may be. You hereby agree to maintain sufficient funds in the above account for this purpose.

 

	 	8.	a)	Three (3) month(s) notice to the Bank is required for prepayment of the financing amount failing
which profit of similar period will be charged.

 

	 	b)	 Any amount received as prepayment shall first be applied towards payment of any arrears, outstanding charges, profit accrued and
the instalment payment due for the month. Any surplus therefrom ("the surplus amount") shall reduce the financing amount.

 

		9.	In the event that the facility/ies is/are cancelled by you at any time during
the period between acceptance of this Letter of Offer and full disbursement of the financing amount, the Bank has the right to
recover from you all legal fees, stamp duty and other related expenses incurred or suffered by the Bank arising from or relating
to this financing (including those which the Bank had previously agreed to bear) by any method the Bank deems necessary without
further notice, including the right to debit any account maintained by you with the Bank.

 

		10.	An Open Standing Instruction on Current Account-i is to be executed to
facilitate the monthly payment of the Term Equity Financing-i.

 

		11.	The Bank has the right to "sell down" to Cagamas Housing financing without your prior
consent.

 

		12.	The Bank has the right to discontinue progressive release of the Bank's financing
amount in the event of a default and/or the project is abandoned by the developer.

 

		13.	Waiver of Business Financing Term Takaful (BFTT) requirement.

 

 

Page 10

 

 

    	 	 	 

     

    

 

		PGCG Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix III

 

CONDITIONS PRECEDENT TO DISBURSEMENT OF THE
FACILITY/IES

 

The following conditions precedent must be fulfilled
prior to the disbursement of any part of the facility/ies:

 

	 	1.	Acceptance of this Letter of Offer.

 

		2.	The company's resolution confirming the request and acceptance of the facility/ies as per terms
and conditions indicated in this Letter of Offer and the creation of the securities thereunder (if applicable).

 

		3.	Execution and completion of all financing and security documentation relating to the facility/ies (if applicable).

 

		4.	A complete and favourable bankruptcy/winding-up search has been made on the
customer(s), directors)/partner(s) and guarantor(s). Clean Official Assignee (OA) search results on all relevant parties are
to be obtained prior to release of the financing facility.

 

		5.	All undertakings as the Bank shall deem appropriate or necessary from the
relevant parties shall have first been obtained by the Bank.

 

		6.	You are to execute a Statutory Declaration that the Property/ies purchased
or the building to be erected is for your own occupation - applicable for residential property/ies only.

 

		7.	Where the titleholder of the Property is a third party, a Letter of Consent/Hibah is to be executed.

 

		8.	Full compliance with the provisions of the Islamic Financial Services Act
2013 and the Foreign Exchange Administration Rules.

 

		9.	Where the separate document of title in respect of the Property has not been
issued by the appropriate authority you shall have deposited with the Bank the original sale and purchase agreement relating to
the purchase of the Property and/or documents pertaining to the Property evidencing rights and/or ownership in the Property.

 

		10.	Where the separate document of the title in respect of the Property has
been issued by the appropriate authority, you shall have furnished or caused to have been furnished to the Bank the issued document
of title.

 

	 	11.	Confirmation by the Bank's solicitor that the differential
sum between the purchase price and the facility/ies has been settled by you. (if applicable)

 

		12.	All relevant authorities' approvals/consents have been obtained (e.g. land
conversion, building plans, state government approvals allowing properties to be charged to the Bank, etc.).

 

		13.	You shall have furnished to the Bank a copy of the quit rent receipt for
the current year due and payable in respect of the Property.

 

		14.	A Valuation Report from a valuer on the Bank's panel is to be furnished
on the property offered as security reflecting a current market value of not less than RM90,000,000-00 on "as is where is"
basis prior to release of the facility. You may select any valuer in the Bank's Panel of Valuers (the list of the Panel of Valuers
is available at the account holding branch) or any other valuer as we may approve, to determine the current market value of the
subject property. All cost and expenses relating to the same shall be borne by you.

 

In the event that the current market value
obtained is less than RM90,000,000-00, financing quantum is to be reduced proportionately subject to margin of financing of 55.56%
against the current market value obtained.

 

		15.	A copy of valid hotel license/permit is to be obtained by the tenant, Le Apple Boutique Hotel
(KLCC) Sdn. Bhd. prior to release of the facility.

 

		16.	A copy of latest Form 49 reflecting Dato
Wong Weng Kung and Chai Kok Wai as directors of the company is to be furnished to the Bank prior to release of the facility.

 

Page 11

 

 

 

    	 	 	 

     

    

 

		PGCG Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix III

 

CONDITIONS PRECEDENT TO DISBURSEMENT OF THE
FACILITY/IES

 

		17.	A copy
                                         of applicants's and corporate guarantor's Audited Accounts for FYE 31 October 2017 reflecting
                                         turnover, pre-tax profit and networth with a negative variance of not more than 10% from
                                         the draft/management accounts is to be furnished the
Bank prior to release of the facility.

 

		18.	Section
                                         225 of the Companies Act 2016 is not contravened in respect of Corporate Guaranteed by
                                         Union Hub Technology Sdn. Bhd. (807388-P).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Page 12

 

 

    	 	 	 

     

    

 

		PGCG Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix IV

 

GENERAL TERMS AND CONDITIONS GOVERNING THE
FACILITY/IES

 

1.       The Bank
has the right to:

 

		i)	recall the facility/ies if they are not used for their intended purposes
or if the Property is used for purposes deemed to be contrary to Islamic principles or for "haram" purposes such as for
gambling, alcohol, conventional financing / pawn broking / insurance, dischotheque/night club, pig farming and other pig related
business;

 

		ii)	review the facility/ies at any time and from time to time irrespective of
whether or not an event of default has occurred and any review, if so conducted, shall be in the manner determined solely by the
Bank. Any delay or omission to conduct a review shall not be construed as a waiver of the Bank's right to review nor prejudice
the Bank's right to recover all monies due and payable to the Bank;

 

		iii)	impose additional conditions, amend any terms and conditions governing the
facility/ies including operating terms and conditions of bills facility/ies and revise/vary other charges from time to time at
the Bank's absolute discretion;

 

		iv)	at any time without notice to debit your account with the Bank for all expenses
whatsoever incurred in the granting of the facility/ies including takaful contributions, quit rent, assessment, cost of an updated
/ revised valuation reports, search fees and legal fees for the preparation and perfection of the security documents by Bank's
solicitors, and trade / credit checking / banker's enquiry on drawees of bills and those incurred in the enforcement of security
/ recovery costs.

 

		v)	debit the available balances under Cash Line Facility-i, current account, savings account, Investment
Account-i or fixed deposits account to settle existing arrears/excesses/overdue of other facility/ies with seven (7) days prior
written notice to you;

 

		vi)	without prejudice to any other remedy which the Bank may have, the Bank
may at any time and with seven (7) days prior written notice to you combine or consolidate all or any of your Islamic accounts
with any of your liabilities under any other agreement or contract with the Bank and set off or transfer any sum or sums outstanding
to the credit of any one or snore of such Islamic accounts in or towards satisfaction of any of your liabilities;
	 	 	 
	 	 	At the Bank's absolute
discretion, you also agree that the Bank will not be held responsible for any "returned cheque" in the event the current
account-i is short of funds due to the said set-off. The exercise by the Bank of its rights under this Clause shall be without
prejudice to any other rights or remedies available and you shall hold the Bank harmless for doing so.

 

		vii)	at any one time hereafter and notwithstanding that the financing/security documentation has been
completed, to withdraw or not make available the facility/ies or any part thereof upon the happening of any event which in the
Bank's opinion would affect in any way your financial position and/or hinder the carrying on your business affairs in accordance
with sound financial, industrial or commercial standards and practices and/or would jeopardise the Bank's security position and/or
which is a default in respect of any of the requirements of the Bank whatsoever at any time and from time to time and the decision
of the Bank shall be final and conclusive;
	 	 	 
	 	 	The Bank has the absolute discretion to decide
on the implementation of this condition (whenever deemed applicable).

 

		viii)	terminate the facility/ies without assigning any reasons thereof and by giving not less than seven
(7) days notice in writing to terminate. The aforesaid seven (7) days shall be calculated with effect from the day following after
the date of the Bank's letter of demand. This notice may be forwarded by ordinary post to the last known address; and/or

 

		ix)	set off/debit your
accounts/deposits/credit balances to cover all facility/ies which are in excess/arrears/overdue with seven (7) days prior written
notice to you. In such event the Bank has the right to return cheques drawn on your current account/Cash Line Facility-i account.

 

Page 13

 

 

 

    	 	 	 

     

    

 

		PGCG Assets Holdings Sdn. Bhd.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix IV

 

GENERAL TERMS AND CONDITIONS GOVERNING THE
FACILITY/IES

 

		2.	You hereby confirm and agree that the facility(ies) granted herein shall
be subject always to the compliance with the Bank Negara Malaysia Guidelines on Credit Transactions and Exposures with Connected
Parties and the Public Bank Group's Credit Policy on Credit Facilities and Exposures to Connected Parties, In this respect, you
undertake to declare to the Bank in the event you or if the Individual Guarantor/Corporate Guarantor and/or Chargor/ Assignor/
Pledgor for the facilities granted herein is/are a connected party as defined under the aforementioned Guidelines/ Policy. You
are aware that "connected party' refers to the following:

 

		a)	Director/Controlling Shareholder/Influential Shareholder/Executive Officer/Officer
involved in credit functions and their close relatives (which include their parent/ dependents/spouse/dependents of spouse/child
including step child and adopted child/spouse of the child/brother or sister and their spouses) of the Bank;

 

		b)	Firms/Partnerships/Companies or any legal entities which control/controlled by any person listed
in (a) above;

 

		c)	Firms/Partnerships/Companies or any legal entities in which any persons listed
in (a) above is interested as a director/partner/executive officer/ agent/ guarantor, and subsidiaries or entities controlled by
them;

 

		d)	Any person for whom the person listed in (a) above is a guarantor; and/or

 

		e)	Subsidiary of, or an entity controlled by the Bank, and its connected parties.

 

You hereby undertake to inform
the Bank immediately in the event that any such relationship as stated above arises in the future. You further acknowledge and
agree that the Bank reserves the right to terminate/ recall the facility(ies) granted herein in the event you have failed to make
the appropriate or correct declaration, resulting in the Bank contravening the aforementioned Guidelines/ Policy.

 

	 	3.	i)	You hereby consent and authorise that
all information relating to your application for the facility/ies may be forwarded to any bureaux or agencies established or approved
by Bank Negara Malaysia (BNM) or registered and licensed under the Credit Reporting Agencies Act 2010 including the Central Credit
Bureau, the Borrower Loans Information System, Dishonoured Cheque Information System (DCheqs), DCHEQS, Central Credit Referral
Information System (CCRIS), FIS Data Reference Sdn Bhd (FIS), RAM Credit Information Sdn Bhd (RAMCI), CTOS Data Systems Sdn Bhd
(CTOS), Credit Bureau Malaysia Sdn Bhd (CBM), Dun & Bradstreet (Malaysia) Sdn Bhd (D&B), Basis Corporation Sdn
Bhd (Basis) and other such bodies, bureau, corporations, or credit reporting agencies as the case may be for the purposes of collecting
information from financial institutions regarding facility/ies granted or accounts maintained to be granted or granted or accounts
maintained with such financial institutions and/or review of the facility/ies
	 	 	 	 
	 	 	 	You further consent and
authorise that all information, records and documents relating to the facility/ies may be forwarded to Cagamas Berhad or Danaharta
Berhad or any such body or corporation as the case may be in the event the facility/ies or part thereof is sold to them.

 

		ii)	The Bank shall not be liable with respect to the accuracy or completeness
of the CCRIS information and shall not be liable for damages caused under any circumstances.

 

	 	4.	 	The Bank
is authorised to release all information on the financing account to the guarantor(s).
	 	 	 	 
	 	 	 	You hereby expressly consent
and authorise the Bank to give, produce, divulge, reveal or otherwise disclose all information regarding your account with other
banks to the guarantors (if applicable) and to companies which are or which may in the future be a holding/subsidiary/associate
company of the Bank.
	 	 	 	 
	 	5.	 	The Property/ies charged to the Bank are required to be inspected and valued
by the Bank's panel of valuers from time to time in accordance with the Bank's policy. It has to be adequately insured for their
insurable market value at all times in the name of the registered owner with the Bank as chargee with the Bank's panel of takaful
operators or any other takaful operator as the Bank may approve and the sum covered will be reviewed annually.
	 	 	 	 
	 	 	 	You
shall give timely notice to the Bank forthwith upon the happening of any event which might affect any takaful policy relating to
the said Property/ies including details of the occupants of the Property/ies, any changes thereto and type of business conducted.
It is hereby agreed that you consent to such information being forwarded to the takaful operator by the Bank.

 

			

Page 14

 

 

 

    	 	 	 

     

    

 

		PGCG
                                         Assets Holdings Sdn. Bid.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix IV

 

GENERAL TERMS AND CONDITIONS GOVERNING THE
FACILITY/IES

 

		6.	You and/or the chargor/assignor hereby agree to assign to the Bank all proceeds
of the rentals arising from the tenancy or leasing of the charged/assigned Property/ies now or in the future from time to time
during the continuation of the facility/ies with the Bank.

 

		7.	You and/or the chargor/assignor hereby expressly covenant with the Bank
that the right of the Bank to receive the rentals pursuant to the Assignment of Rental Agreement shall not in any way involve the
Bank in any of your/the chargor's/assignor's obligation under the Tenancy Agreement/Lease Agreement and you and the chargor/the
assignor hereby agree to abide by all the terms of the Tenancy Agreement/Lease Agreement as a Landlord thereunder. You and the
chargor/assignor hereby further agree to indemnify and save harmless the Bank against any and all liabilities, losses, damages,
penalties, costs, expenses, disbursements claims, actions and proceedings whatsoever which may be taken or made against, imposed
on, incurred or sustained by the Bank or which may arise as a result of the Bank receiving the proceeds of the rentals from the
Tenancy Agreement/Lease Agreement and from any breach of the terms of the Tenancy Agreement/Lease Agreement binding upon you and/or
the chargor/assignor as the Landlord.

 

		8.	You hereby confirm that all the directors agree that any and all payments
of financing/advances/facilities granted by the directors to you and any payment of the said financing/advances/facilities due
from you to the directors are hereby subordinated to the facility granted herein i.e. the settlement or the payment of the facility
granted herein shall rank in priority to the settlement or payment of the financing/advances/facilities granted by the directors
to you.

 

	 	9.	You are
required to furnish the following:

 

		i)	Audited final accounts of the company within 6 months after each financial year end (if applicable).

 

		ii)	To advise the Bank of any change of correspondence address. Any written
correspondence/notices are deemed sufficiently delivered if they are to be posted/left at the usual or last known correspondence
address.

 

		iii)	Copies of current year's quit rent receipt of relevant charged/assigned
properties to be forwarded to the Bank's solicitors and similar copies to be sent to the Bank for record. Yearly quit rent/assessment
receipts must be submitted to the Bank not later than 31 May each year.

 

		10.	The Bank has the liberty to determine at its absolute discretion and without
reference to the customer and corporate guarantor, the circumstances requiring the stamping of the letter of guarantee and/or other
security instruments at additional stamp duty including penalty rate (if applicable).
	 	 	 
	 	 	You are to furnish the Bank with a Letter of Authority
to debit your accounts with the Bank for the additional/penalty stamp duty, should the need arise (if applicable).
	 	 	 
	 	11.	If any of the terms and conditions
of this Letter of Offer contradicts with any terms and conditions in any other security document(s) or is deemed invalid, it shall
be confined to the specific condition only without affecting the validity of all other terms and conditions of this Letter of Offer.
All terms and conditions stipulated in any other security document(s) shall remain intact.

 

		12.	Any term or condition herein which is illegal, prohibited or unenforceable by law shall be ineffective
to the extent of such illegality, prohibition or unenforceability without invalidating the remaining provisions thereof.

 

		13.	The Bank has the right to assign or transfer all or part of its obligations
under this Letter of Offer without your consent. Any such assignee or transferee shall be treated as a party for all purposes of
this Letter of Offer and shall be entitled to the full benefit of this document to the same extent if it were an original party
in respect of the rights or obligations or transferred to it.

 

		14.	The Bank has the right to withdraw the Letter of Offer in the event the
terms and conditions of the Sate and Purchase Agreement are deemed to be unfavourable and not in the Bank's interest.

 

		15.	The Bank may disclose to the actual or potential
assignee, successor, sub-participant or the like such information about you or any other person as it may deem fit.

 

Page 15

 

 

 

    	 	 	 

     

    

 

		PGCG
                                         Assets Holdings Sdn. Bid.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

Appendix IV

 

GENERAL TERMS AND CONDITIONS GOVERNING THE
FACILITY/IES

 

	 	16.	Notwithstanding
the provisions relating to the payment of the monies advanced as herein before provided, the customer hereby expressly agrees
that if any sums shall be due from the customer to the Bank from time to time or at any time or if the customer may be or become
liable to the Bank on any Islamic banking account or any other Islamic account, current or otherwise in any manner whatsoever
or if default is made in any provisions of such Islamic accounts or in any other Islamic facility/ies granted by the Bank to the
customer in any of the provisions herein, then and in such event the Bank's Remaining Musharakah Units and all advances, actual
compensation together with all monies payable under such Islamic accounts or other Islamic facility/ies aforesaid shall immediately
become due and payable and the security herein shall become immediately enforceable as security for all monies and liabilities
whatsoever due and payable to the Bank.

	 	 	 
	 	17.	In
the event the developer is not agreeable to the lodgement of a Private Caveat on the Master Title, you hereby consent to the Bank
waiving such lodgement.

	 	 	 
	 	18.	You shall irrevocably authorise the Bank
to debit your account for payment of legal fees and out of pocket expenses for the preparation and perfection of all security
documentation.
	 	 	 
	 	19.	The amount to be financed by the Bank
shall not exceed the Facility Approved of the Property. In the event that, after the execution of the Musharakah Mutanaqisah Master
Agreement, the Vendor or Developer grants any discount on the purchase price of the Property to you, the Bank shall be at liberty
not to make any further disbursements of the balance of the Facility Approved which is equivalent to the amount of the discount
granted by the Vendor/Developer.
	 	 	 
	 	20.	Upon demand/recall of the facility/ies
and/or classification of account(s) as impaired financing, all monies outstanding under the facility/ies shall immediately become
due and payable to the Bank.
	 	 	 
	 	21.	The customer and the security party hereby
declare and confirm that the facility/ies may be terminated and the outstanding balance in the Musharakah arrangement together
with profit thereon and any other moneys covenanted to be paid or intended to be secured hereunder shall become due and immediately
payable whether formally demanded or not, if the customer and/or security party has any legal proceedings or suits instituted
or threatened to be instituted by any person against the customer and/or security party.
	 	 	 
	 	22.	In the event of default, the Bank will
be entitled to exercise any of the following: -

 

		(i)	accept and/or exercise your promise to purchase the Bank's remaining share
in the Musharakah whereby you shall purchase the Bank's remaining undivided shares in the Musharakah and pay all sums payable hereunder
and under the other Security Documents, upon which the Bank will transfer all the Bank's share of ownership in the Musharakah to
you at your cost and expense whereupon the Musharakah hereunder will be dissolved; or

 

		(ii)	exercise your power of attorney to sell the Property to any third party
whereupon the Musharakah hereunder will be dissolved.

 

In either situation, the
Bank shall be entitled without further notice to you to enforce all or any of the Security Documents and all of the remedies available
under the law.

 

	 	23.	The Bank has the right to combine or
consolidate all or any of your accounts with the Bank and/or its subsidiaries and set off or transfer any sum outstanding to the
credit of any one or more such accounts towards satisfaction of any of your liabilities with the Bank and/or its subsidiaries
at any time with seven (7) calendar days prior notice to you. The bank shall also have a lien over the security of any financing
account/facility to cover your borrowing with the Bank and/or its subsidiaries of any other under consolidation.
	 	 	 
	 	24.	In the event that you have requested
the Bank for waiver of MRTT/MRPA/BFTT coverage in respect of the financing
offered by the Bank to you vide this Letter of Offer, you confirm that you fully understand the consequential effects that such
waiver/modifications and the absence of MRTT/MRPA/BFTT. You agree to indemnify and hold the Bank harmless against all losses and
claims.

 

Page 16

 

 

 

    	 	 	 

     

    

  

		PGCG
                                         Assets Holdings Sdn. Bid.

        A/c No. 2-9777590-08

        (A/A No. KLC/000212/18)
	 

 

 

 

 

Appendix IV

 

GENERAL TERMS AND CONDITIONS GOVERNING THE
FACILITY/IES

 

		25.	Notwithstanding that the facility/ies and/or security documentation has been
duly approved, accepted and/or completed, the Bank has the absolute right and discretion not to release or make available the facility/ies
or any part thereof or to withdraw, terminate and/or recall the facility/ies therein granted to the Customer immediately upon the
Bank becoming aware that the Customer and/or security party is or has been investigated or is alleged to be involved and/or had
committed any illegal activities or criminal offences of any nature whatsoever or will be or have been allegedly subjected to any
criminal prosecution and/or conviction and/or any security in respect of the facility/ies held by the Bank is subjected to or at
risk freezing, seizure and forfeiture by the Federal Government and/or other relevant authorities or bodies. In all events, the
Bank's decision shall be final and conclusive.

 

		26.	A termination fee of RM2,000-00 (or such other amount as the Bank may stipulate)
shall be charged if any of the facility (ies) herein or any part thereof is cancelled prior to the disbursement of the facility(ies)
for any reason whatsoever.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Page 17

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