Document:

Exhibit 10.1

 

SIXTH AMENDMENT
TO REVOLVING CREDIT AGREEMENT

 

This SIXTH AMENDMENT
TO REVOLVING CREDIT AGREEMENT (this “Loan Amendment”) dated as of November 6, 2014, is entered into by and among LANDMARK
BANCORP, INC., a Delaware corporation (the “Borrower”), and FIRST NATIONAL BANK OF OMAHA, a national banking association
with principal offices in Omaha, Nebraska (the “Bank”) (the Borrower and the Bank are sometimes hereinafter individually
referred to as a “Party” and collectively referred to as the “Parties”).

 

WHEREAS, the Parties
have entered into that certain Revolving Credit Agreement dated as of November 19, 2008 (the “Initial Credit Agreement”),
as amended by that certain letter agreement among the Parties dated February 6, 2009, a First Amendment to Revolving Credit Agreement
among the Parties dated November 18, 2009, a Second Amendment to Revolving Credit Agreement among the Parties dated November 5,
2010, a Third Amendment to Revolving Credit Agreement among the Parties dated November 4, 2011, a Fourth Amendment to Revolving
Credit Agreement among the Parties dated November 5, 2012, a Fifth Amendment to Revolving Credit Agreement among the Parties dated
November 5, 2013, (hereinafter collectively referred to as the “Credit Agreement”); and

 

WHEREAS, the Parties
desire to amend and modify the Credit Agreement, as hereinafter provided and subject to the terms and provisions hereof.

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual promises, covenants and agreements set forth in the Credit Agreement as amended by
this Loan Amendment, including the mutual covenants and agreements contained herein, the Parties agree as follows:

 

1.            Definitions.
Unless otherwise defined in this Loan Amendment, each capitalized term used in this Loan Amendment, including its preamble and
recitals, has the meaning ascribed to it in the Credit Agreement.

 

2.            Amendment
to Definition. The following defined terms as reflected in Section 1.01 of the Credit Agreement shall be, and hereby are, deleted
in there entireties and replaced by the definitions reflected below inserted, in alphabetical order, for such defined term:

 

“Loan
Termination Date” means the earliest to occur of the following: (a) November 1, 2015, (b) the date the Obligations are
accelerated pursuant to this Agreement or the Revolving Note and (c) the date the Bank has received (i) notice in writing from
the Borrower of the Borrower’s election to terminate this Agreement or the Revolving Note or (ii) indefeasible payment in
full of the Obligations.

 

3.            Additional
Definition. The Parties agree that the following defined term shall be inserted, in alphabetical order, in section 1.01 of
the Credit Agreement.

 

“Tier
1 Leverage Ratio” shall mean Tier 1 Leverage Ratio as currently defined in the Call Reports.

 

4.            Amended Revolving
Note. Borrower shall, upon execution of this Loan Amendment, execute and deliver to the Bank a Sixth Amended and Restated Revolving
Note, in the form attached hereto as Exhibit “A” and incorporated herein by this reference (the “Amended Revolving
Note”) for the purpose of extending the Loan Termination Date. All references to the Revolving Note in the Credit Agreement
or in any of the other Loan Documents, shall be deemed for all purposes to be a reference to the Amended Revolving Note.

 

5.            Amendment
to Section 5.08(g) of Credit Agreement. The Parties agree that Section 5.08(g) of the Credit Agreement shall be, and hereby
is, as of the date hereof, deleted in its entirety and replaced with the following:

 

“Section
5.08(g). [intentionally omitted].”

 

6.            Amendment
to Section 7.01(b), (c), (d), and (e) of Credit Agreement. The Parties agree that subsections (b), (c), (d), and (e) of Section
7.01 of the Credit Agreement shall be, and hereby are, as of the date hereof, deleted in their entirety and replaced with the following:

 

    	 

    	 

    

 

“(b)            Tier
1 Risk Based Capital Ratio. The ratio (expressed as a percentage) of Tier 1 Risk Based Capital not less than twelve and one-half
percent (12.5%).

 

(c)            Non-Performing
Assets to Total Capital and Loan Loss Reserves Ratio. The ratio (expressed as a percentage) of Non-Performing Assets to Total Capital
and Loan Loss Reserves of less than twenty percent (20.0%).

 

(d)            Non-Performing
Loans to Total Loans Ratio. The ratio (expressed as a percentage) of Non-Performing Loans to the total of all loans made by such
Person of less than five percent (5.0%).

 

(e)            [intentionally
omitted].”

 

7.            Additional
Terms. The Parties agree that the following terms shall be inserted in section 7.01 of the Credit Agreement.

 

(f)            Tier
1 Leverage Ratio. The Tier 1 Leverage Ratio (expressed as a percentage) of not less than eight percent (8.0%).

 

8.            Compliance
Certificates. The Parties agree that the form of Quarterly Compliance Certificate attached as Exhibit “B” to the
Fourth Amendment is hereby deleted and replaced with the form of Quarterly Compliance Certificate attached as Exhibit “B”
to this Loan Amendment and incorporated herein by this reference. The Parties hereby agree that all references to the Quarterly
Compliance Certificate in the Credit Agreement or in any of the other Loan Documents shall be deemed to be references to the Quarterly
Compliance Certificate, as applicable, in the form attached hereto.

 

9.            Conditions
Precedent. In addition to any conditions precedent contained in any of the Loan Documents or otherwise contained in this Loan
Amendment, the obligations of the Bank under this Loan Amendment are expressly conditioned upon satisfaction of the following additional
conditions precedent:

 

(a)            Execution
of the Loan Amendment. The Bank having received from the Borrower counterpart signatures of this Loan Amendment.

 

(b)            Delivery
of Documents. The Bank shall have received, each in a form acceptable to the Bank, such other documents, instruments, and writings,
including but not limited to authorization and incumbency certificates with reasonable documentation attached thereto and incorporated
therein, reasonably requested by the Bank.

 

10.            Ratification;
No Waiver. The Parties agree that, except as specifically amended hereby, the terms and provisions of the Credit Agreement
and all of the other Loan Documents, are hereby ratified and shall remain in full force and effect. No amendment contained in this
Loan Amendment shall be construed to amend or waive any obligation of the Borrower under the Credit Agreement or any provision
of any of the Loan Documents, except to the extent of the specific amendment referenced herein. No delay or omission by the Bank
in exercising any power, right, or remedy shall impair such power, right, or remedy or be construed as a waiver thereof or an acquiescence
therein, and no single or partial exercise of any such power, right, or remedy shall preclude other or further exercise thereof
or the exercise of any other power, right, or remedy under the Credit Agreement or any other Loan Documents, or otherwise.

 

11.            Authorization.
The Borrower hereby represents and warrants that (i) the undersigned is a duly authorized representative of the Borrower, (ii)
the Borrower has the requisite power and authority to execute and deliver this Loan Amendment, (iii) the execution, delivery and
performance of this Loan Amendment have been, duly authorized, approved and ratified by all required organizational action of the
Borrower, and (iv) the amendments specifically referenced herein reflect all of the amendments being requested by the Borrower
relating to the terms and provisions of the Credit Agreement and the other Loan Documents.

 

12.            Governing
Law. This Loan Amendment shall be governed by the laws of the State of Nebraska, other than conflict of law provisions thereof.

 

13.            Submission
to Jurisdiction; Venue. The Borrower hereby submits to the jurisdiction of any state or federal court sitting in Omaha, Nebraska,
in any action or proceeding arising out of or relating to this Loan Amendment, the Credit Agreement or any of the other Loan Documents,
and agrees that all claims in respect of the action or proceeding may be heard and determined in any such court. The Borrower also
agrees not to bring any action or proceeding arising out of or relating to this Loan Amendment, the Credit Agreement, or any other
Loan Document in any other court. The Borrower waives any defense of inconvenient forum to the maintenance of any action or proceeding
so brought and waives any bond, surety, or other security that might be required of the Bank. The Borrower agrees that a final
judgment in any action or proceeding so brought shall be conclusive and may be enforced by suit on the judgment or in any other
manner provided by law or at equity. The Borrower hereby waives any rights it may have to transfer or change the venue of any suit,
action or other proceeding brought against the Borrower by the Bank in accordance with this paragraph or in connection with this
Loan Amendment, the Credit Agreement or any other Loan Documents.

 

    	 

    	 

    

 

14.            JURY TRIAL
WAIVER. THE BANK AND THE BORROWER HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM, WHETHER IN
CONTRACT OR TORT, AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATED TO THIS LOAN AMENDMENT, THE CREDIT AGREEMENT OR ANY
OF THE OTHER LOAN DOCUMENTS. NO EMPLOYEE OF THE BANK HAS AUTHORITY TO WAIVE, CONDITION, OR MODIFY THE TERMS AND PROVISIONS OF THIS
PARAGRAPH OF THIS LOAN AMENDMENT.

 

15.            Costs and
Expenses.  The Borrower agrees to pay on demand all costs and expenses of the Bank in connection with the preparation,
execution and delivery of this Loan Amendment, including, without limitation, the cost for reasonable fees and out-of-pocket
expenses of outside counsel for the Bank with respect thereto.

 

16.            CREDIT
Agreement. A CREDIT Agreement must be in writing to be enforceable under Nebraska law. To protect you and us from any misunderstandings
or disappointments, any contract, promise, undertaking, or offer to forbear repayment of money or to make any other financial accommodation
in connection with this loan of money or grant or extension of credit, or any amendment of, cancellation of, waiver of, or substitution
for any or all of the terms or provisions of any instrument or document executed in connection with this loan of money or grant
or extension of credit, must be in writing to be effective.

 

17.            Counterparts.
This Loan Amendment may be executed in one or more counterparts, any one of which need not contain the signatures of more than
one Party, but all such counterparts taken together will constitute one and the same instrument. A facsimile signature will be
deemed an original signature.

 

IN WITNESS WHEREOF,
the Parties hereto have executed this Credit Amendment as of the date first written above.

 

	 	“Borrower”
	 	 
	 	LANDMARK BANCORP, INC., 

a Delaware corporation
	 	 
	 	 
	 	By:	 
	 	Title:	 
	 	 
	 	“Bank”
	 	 
	 	FIRST NATIONAL BANK OF OMAHA,

a national banking association
	 	 
	 	 
	 	By:	 
	 	Title:Exhibit 10.11

 

This Share Exchange Agreement (this “Agreement”) is entered into on September 12, 2013.

 

BETWEEN:

 

(1)                                 The persons whose names and addresses are set forth in Schedule 1 hereto (the “Shareholders”);

 

(2)                                 Sky Solar Holdings Co., Ltd., a company organized under the laws of the Cayman Islands (“SSH”); and

 

(3)                                 Sky Power Group Ltd., a company organized under the laws of the Cayman Islands (“SPG”).

 

RECITALS:

 

(A)                               The Shareholders are shareholders of SSH and SPG is a wholly-owned subsidiary of SSH.

 

(B)                               SSH desires to repurchase certain ordinary shares and preferred in SSH held by the Shareholders in consideration for the issuance of certain ordinary shares and preferred in SPG, and the Shareholders desire to acquire shares in SPG in consideration for shares in SSH.

 

OPERATIVE PROVISIONS

 

1.                                      Agreement to Sell and Purchase Shares

 

1.1.                            On and subject to the terms of this Agreement, each Shareholders hereby agrees to sell to SSH, and SSH hereby agrees to purchase from such Shareholder, free from any and all encumbrances, the shares in SSH set forth opposite such Shareholder’s name in Schedule 1 (the “SSH Shares”).  The consideration payable by SSH to each Shareholder for such Shareholder’s SSH Shares shall be the issue and allotment by SPG to such Shareholder the shares in SPG set forth opposite such Shareholders’ name in Schedule 1 (the “SPG Shares”), credited as fully paid.

 

1.2.                            Schedule 2 hereto sets forth the capitalization table of SPG immediately following the completion.

 

2.                                      Completion

 

2.1.                            Completion shall take place at the offices of SSH’s principal place of business immediately after execution of this Agreement. For the avoidance of doubt, Completion is conditioned upon the execution and effectiveness of (i) that certain registration rights agreement, dated on or about the date hereof, among SPG and the shareholders named therein, which replaces the prior registration rights agreement among SSH and the shareholders named therein, and (iii) that certain shareholders’ agreement, dated on or 

 

 

about the date hereof, among SPG and the shareholders named therein, which replaces the prior shareholders’ agreement among SSH and the shareholders named therein.

 

2.2.                            At completion:

 

(a)                                 each Shareholder shall deliver to SSH a duly executed instrument of share transfer regarding the SSH Shares held by such Shareholder in favor of SSH; and

 

(b)                                 SPG shall issue and allot SPG Shares, credited as fully paid, to each Shareholder as set forth in Clause 1.1 above;

 

3.                                      Warranties and Covenants

 

3.1.                            Each of SSH and SPG hereby represents and warrants to and agrees with the Shareholders that (i) it has full power and authority and has obtained all necessary consents waivers and consents to enter into and perform its obligations under this Agreement and any agreement to be entered into by it as herein mentioned, and (ii) immediately following completion of the transactions contemplated hereunder, other than a 49% interest in China New Era International Limited (the book value of which is zero), SPG will directly or indirectly own any and all assets and properties that are directly or indirectly owned by SSH through SPG immediately prior to completion of the transactions contemplated hereunder; and

 

3.2.                            Each Shareholder hereby represents warrants and undertakes to SSH and SPG that

 

(a)                                 such Shareholder has full power and authority and has obtained all necessary consents waivers and consents to enter into and perform the obligations to be performed by such Shareholder under this Agreement and any agreement to be entered into by such Shareholder as herein mentioned; and

 

(b)                                 such Shareholder is the sole legal and beneficial owner of the number of SSH Shares set forth opposite such Shareholder’s name in Schedule 1 hereto, in each case free from any and all encumbrances.

 

4.                                      Survival of Agreement

 

This Agreement (and in particular the warranties representations covenants agreements and undertakings of the Shareholders hereunder) shall, insofar as the terms hereof remain to be performed or are capable of subsisting, remain in full force and effect after and notwithstanding completion.

 

5.                                      Successors and Assigns

 

This Agreement shall not be assignable by the Shareholders (save as expressly permitted herein) but shall be binding upon and enure for the benefit of each party’s successors in title.

 

 

6.                                      General

 

6.1.                            Each party hereto agrees to perform any further acts and execute and deliver any document that may be reasonably necessary to carry out the intent of this Agreement.

 

6.2.                            This Agreement shall bind and inure to the benefit of the successors and assigns of the parties hereto.

 

6.3.                            This Agreement may be amended at any time by the written agreement and consent of the parties hereto.

 

6.4.                            This Agreement shall be governed by and construed in accordance with the laws of Hong Kong Special Administrative Region (“Hong Kong”), without regard to conflict of law provisions.  The parties hereto hereby submit to the non-exclusive jurisdiction of the courts of Hong Kong.

 

6.5.                            This Agreement, including such other agreements referred to herein, constitutes the entire agreement and understanding among the parties pertaining to the subject matter hereof and supersedes any and all prior agreements, whether written or oral, relating thereto.

 

6.6.                            Introductory headings at the beginning of each clause of this Agreement are solely for the convenience of the parties and shall not be deemed to be a limitation upon or description of the contents of any such clause.  The use of the word “including” in this Agreement will be by way of example rather than by limitation.

 

6.7.                            This Agreement may be executed in counterparts, which, when taken together, shall constitute one and the same instrument.

 

[End of the Agreement]

 

[Signature pages and schedules containing the identities of shareholders and their corresponding share numbers have been omitted. The Company agrees to furnish supplementally a copy of such information to the Commission upon request.]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]