Document:

EXHIBIT 10.1

  
 Exhibit 10.1
 

 SHARE PURCHASE AGREEMENT
 

 

 THIS AGREEMENT is made on the 24th day of July, 2017.
 

 BETWEEN:
 

 (1)
 SUN MEDICAL OPERATION COMPANY LIMITED, a limited liability company incorporated in the British Virgin Islands, whose registered office is situated at Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands (“Vendor”); and
 

 (2)
 MEDISUN PRECISION MEDICINE LTD., a company incorporated in the Republic of Marshall Islands with limited liability, whose registered office is situated at Ajeltake Road, Ajeltake Island, Majuro, MH 96960, Republic of the Marshall Islands (“Purchaser”). 
 

 WHEREAS:
 

 (1)
 The Vendor is the sole registered and beneficial owner of all of the shares of New Sonic Global Limited (soon to be renamed “Sun Precision Medical Network Limited”) (“Company”), a company incorporated in the British Virgin Islands (“BVI”) with limited liability. The Company is engaged in the principal business of the provision of precision medicine solutions (and related businesses).
 

 (2)
 The Purchaser is a corporation incorporated in the Republic of the Marshall Islands, the shares of which are traded on the OTCQB of the OTC Markets Group in the United States of America.  As at the date of this Agreement, the Company has issued 64,418,954 shares of common stock. 
 

 (3)
 The Vendor entered into a cooperation agreement (“Cooperation Agreement”) with LDG Labor Deutschland (“LDG”) dated 6 December 2016, which has a supplemental agreement entered into between the Vendor and LDG dated 12 April 2017 (together with the Cooperation Agreement, collectively, the “Master Agreement”).  Immediately before the signing of this Agreement, the rights and obligations of the Vendor under the Master Agreement has been transferred to the Company in accordance with the Master Agreement by a transfer notice (“Transfer Notice”) given by the Vendor to LDG.  Pursuant to the Master Agreement, the cooperation region is Greater China, and the term of the cooperation is five years from 1 January 2017 to 31 December 2021, which can be extended based on negotiation of the parties thereunder. The major cooperation items under the Master Agreement include: (1) the Vendor (which had been transferred to the Company) introducing clients to accept treatment in the German medical institution; (2) the Vendor (which had been transferred to the Company) engaging in the business of remote medical consultation (in which Vendor is the exclusive partner in Greater China) (the above item 1 and item 2 are herein collectively referred to as the “Cooperation Rights”). 
 

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 (4)
 The Vendor has agreed to sell and the Purchaser has agreed to purchase the Sale Shares (as defined below) for the consideration of the Consideration Shares (as defined below) subject to and upon the terms and conditions of this Agreement. 
 

 NOW IT IS HEREBY AGREED AS FOLLOWS:
 

 1.
 DEFINITIONS AND INTERPRETATION
 

 In this Agreement, unless the context otherwise requires or permits, the following words and expressions shall have the meanings ascribed to each of them respectively below:
 

 	 	 	
	 “Agreement”
	  
	 means this agreement for the sale and purchase of the Sale Shares, as amended from time to time; 

	 “Company”
	  
	 means New Sonic Global Limited (soon to be renamed “Sun Precision Medical Network Limited”), a limited liability company incorporated in Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands;

	 “Completion”
	  
	 means completion of the sale and purchase of the Sale Shares in accordance with Clause 4;

	 “Consideration Shares”
	  
	 means 15,000,000 new shares of common stock of the Purchaser to be issued and allotted by the Purchaser to the Vendor;

	 “Greater China”
	  
	 means the Mainland of the PRC, Hong Kong, the Macau Special Administrative Region, and Taiwan; 

	 “HK$”
	  
	 means Hong Kong dollars, the lawful currency of Hong Kong; 

	 “Hong Kong”
	  
	 means the Hong Kong Special Administrative Region of the PRC; 

	 “PRC”
	  
	 means the People’s Republic of China, which for the purpose of this Agreement, excludes Hong Kong, the Macau Special Administrative Region and Taiwan; and 

	 “Sale Shares”
	  
	 means 50,000 shares of the Company, being the entire issued share capital of the Company to be sold by the Vendor to the Purchaser pursuant to this Agreement.

 

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 2.
 SALE AND PURCHASE
 

 Subject to the terms and conditions of this Agreement, the Vendor as the sole beneficial owner shall sell to the Purchaser, and the Purchaser shall purchase the Sale Shares with effect from Completion. 
 

 3.
 CONSIDERATION
 

 The consideration for the sale and purchase of the Sale Shares shall be the issuance and allotment of the Consideration Shares by Purchaser to the Vendor. Following the issuance of the Consideration Shares, the Vendor shall have approximately 18.89% ownership of the Purchaser on a fully diluted basis. 
 

 4.
 COMPLETION
 

 4.1
 Completion of this Agreement shall take place within simultaneously after signing of this Agreement. 
 

 4.2
 Completion shall take place at 25/F., Octa Tower, 8 Lam Chak Street, Kowloon Bay, Hong Kong (or at such other place as the parties may agree) when all (but not part only) of the following businesses shall be transacted:
 

 (a)
 the Vendor shall deliver or cause to be delivered to the Purchaser:
 

 (i)
 an instrument of transfer in respect of the transfer of the Sale Shares, duly executed by the Vendor as transferor in favor of the Purchaser;
  
 (ii)
 original share certificate in respect of the Sale Shares;
 

 (iii)
 all other documents (including agreements, contracts, deeds) belonging to the Company (if any) in the possession of the Vendor; and
 

 (iv)
 all such other documents as may be required to give a good and effective transfer of title to the Sale Shares to the Purchaser and to enable it to become the registered shareholder of the Company thereof; 
 

 (b)
 the Vendor shall procure for the appropriate approval for the transfer of the Sale Shares to the Purchaser and the registration of such transfer and the issue of a new share certificate to the Purchaser, subject to the relevant instrument of transfer and bought and sold notes being duly stamped and presented for registration; and
 

 (c)
 the Purchaser shall give instruction to the registered agent of the Company to issue and allot the Consideration Shares to the Vendor and make such Consideration Shares registered (if applicable), and shall arrange the share certificate of the Consideration Shares to be issued and delivered to the Vendor.
 

 

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 5.
 WARRANTIES AND INDEMNITY
 

 5.1
 Each of the Vendor and the Purchaser hereby represents and warrants to the other party that it is duly incorporated in its place of incorporation and is legally subsisting, and it has full power to enter into and perform this Agreement and each document executed pursuant hereto and this Agreement and such documents will, when executed, constitute legal, valid and binding obligations on it in accordance with its terms.
 

 5.2
 The Vendor further represents and warrants to the Purchaser that, asof the date of this Agreement:
 

 (i)
 to the best of its knowledge, information and belief, the transfer of Sale Shares under this Agreement, shall not require any specific approval by any regulator(s) and/or shareholder(s);
 

 (ii)
 the Company is operating in its normal day-to-day business, and there are no material transactions which may adversely affect the business and operation of the Company; 
 

 (iii)
 the Company is repaying its debts in accordance with the general practices in the market and the terms of the debts;
 

 (iv)
 the Company has not entered into or agreed to enter into any capital commitments or liabilities over HK$100,000 (or its equivalent foreign currencies); 
 

 (v)
 the Vendor is the sole legal and beneficial owner of the entire issued share capital of the Company, being the Sale Shares, and the Company has not issued or agreed to issue any equity or loan capital or other derivatives (including but not limited options, warrants and convertible bonds) or similar instruments; 
 

 (vi)
 the Company has not entered into any contracts or agreements which are not consistent with the normal operations (including but not limited to any unusual discounts or special terms); 
 

 (vii)
 each of the Company and the Vendor has not initiated or been involved in any (actual or potential) legal proceedings, arbitrations, claims or other legal or contractual programs or investigations, and to the best information and knowledge of the Vendor upon making all reasonable enquiries, there have been no circumstances occurred which may cause such legal proceedings, arbitrations, claims or other legal or contractual programs or investigations; 
 

 (viii)
 each of the Vendor and the Company has duly complied with all the terms and conditions of the Master Agreement, and to the best information and knowledge of the Vendor upon making all reasonable enquiries, there have been no circumstances occurred which may cause the Master Agreement to be terminated; 
 

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 (ix)
 each of the transfer of the rights and obligations of the Vendor to the Company under the Master Agreement pursuant to the Transfer Notice, and the transfer of the Sale Shares under this Agreement, does not require the specific consent or approval or notification to the LDG; and
 

 (x)
 upon making all reasonable enquiries, the Vendor is not aware of any materially adverse circumstances relating to the Company and/or the Vendor and/or the subject matter of this Agreement which are not disclosed to the Purchaser.
 

 5.3
 The Vendor and Purchaser each hereby unconditionally and irrevocably indemnifies the other and its directors, employees, agents and officers any losses, costs or damages caused to them arising from any breach of this Agreement, negligence or default by each other and/or its directors, employees, agents and officers (including but not limited to legal costs).
 

 5.4
 The Purchaser further represents and warrants to the Vendor that, as at the date of this Agreement
 

 (i)
 to the best of its knowledge, information and belief, the transactions contemplated in this Agreement, including without limitation the issue of Consideration Shares shall not require any specific approval by any regulator(s) and/or shareholder(s);
 

 (ii)
 the Purchaser is operating in its normal day-to-day business, and there are no material transactions which may adversely affect the business and operation of the Purchaser; 
 

 (iii)
 the Purchaser has not initiated or been involved in any (actual or potential) legal proceedings, arbitrations, claims or other legal or contractual programs or investigations, and to the best information and knowledge of the Purchaser upon making all reasonable enquiries, there have been no circumstances occurred which may cause such legal proceedings, arbitrations, claims or other legal or contractual programs or investigations; and
 

 (iv)
 upon making all reasonable enquiries, the Purchaser is not aware of any materially adverse circumstances relating to the subject matter of this Agreement which are not disclosed to the Purchaser.
 

 5.5
 The warranties stated in Clauses 5.1, 5.2, 5.3 and 5.4 shall survive upon Completion. 
 

 6.
 POST-COMPLETION ARRANGEMENTS AND FURTHER ASSURANCE
 

 6.1
 The Vendor hereby unconditionally and irrevocably agrees that, after the Completion, it shall comply with the instructions given by the Purchaser in relation to the change of directors, bank signatories arrangements and other arrangements which are necessary to the operation of the Company, and execute 
 

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 all such necessary documents and conduct all such necessary actions to bring into effect such instructions.  
 

 6.2
 Each party to this Agreement shall from time to time and at its own cost, on being required to do so by the other party, now or at any time in the future, perform or procure the performance of all such acts and/or execute or procure the execution of all such documents in a form satisfactory to the requesting party as it may consider necessary for giving full effect to this Agreement and the transactions contemplated hereunder.
 

 6.3
 The rights and obligations stated in Clauses 6.1 and 6.2 shall survive upon Completion. 
 

 7.
 ASSIGNMENT
 

 None of the obligations or the rights and remedies under this Agreement may be assigned without the prior consent of the other party, except that the Vendor may assign its rights and obligations in this Agreement to an affiliate. If an assignment occurs, the assignee shall assume all the rights and responsibilities of this Agreement. 
 

 8.
 ENTIRE AGREEMENT
 

 8.1
 This Agreement constitutes the whole and only agreement between the parties hereto relating to the subject matters set out in this Agreement and supersedes and extinguishes any prior drafts, agreements, undertakings, representations, warranties and arrangements of any nature whatsoever, whether or not in writing, relating thereto.
 

 8.2
 This Agreement may only be varied in writing signed by all of the parties hereto.
 

 9.
 GENERAL
 

 9.1
 The parties to this Agreement shall keep confidential of the content of this Agreement and any information which is provided by the party under this Agreement, unless: (i) at the time of obtaining such information, the information has already been in the public domain through no fault of the other; (ii) at the time of obtaining such information, it has already been known to such party; (iii) the information has been obtained from third parties through official channels without breaching any confidentiality undertaking; and (iv) the information has been required to be disclosed under applicable laws and regulations or by government authorities.  However, the Parties acknowledge that the shares of the Purchaser are publicly traded, and hence it is expressly acknowledged and agreed by the Parties that any disclosure as required under the applicable laws and regulations and trading rules shall be permitted.  
 

 9.2
 This Agreement may be executed in any number of counterparts, and by the parties on separate counterparts, but shall not be effective until each party has executed at least one counterpart either by email, fax, or in person.  Each counterpart shall constitute an original of this Agreement, but all the counterparts 
 

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 shall together constitute one and the same instrument.
 

 9.3
 Except as otherwise expressly provided, time is of the essence of this Agreement.  For the purpose of this clause, time shall mean the date and period and the other date and period to be agreed by the parties to this Agreement.  No failure or delay by any party in exercising any right, power or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of the same preclude any further exercise thereof or the exercise of any other right, power or remedy.  Without limiting the foregoing, no waiver by any party of any breach of any provision hereof shall be deemed to be a waiver of any subsequent breach of that or any other provision hereof.
 

 9.4
 If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair:
 

 (a)
 the legality, validity or enforceability in that jurisdiction of any other provision of this Agreement; or 
 

 (b)
 the legality, validity or enforceability under the law of any other jurisdiction of that or any other provision of this Agreement.
 

 9.5
 Each party shall bear its own costs and expenses (including legal fees) incurred in connection with the preparation, negotiation, execution and performance of this Agreement and all documents incidental or relating to Completion. 
 

 9.6
 A notice under or in connection with this Agreement shall be: 
 

 (i)
 in writing and in English or Chinese; and
 

 (ii)
 delivered personally, sent by courier, email, or sent by facsimile due to receive the notice at the address, email address or facsimile number referred to in this clause or such other address, email address or facsimile number as a party may specify by notice in writing to the other party received before the notice was dispatched. 
  
 For the purposes of this clause, a notice shall be sent to the addresses, email addresses or facsimile numbers and for the attention of those persons set out below: 
 

 (i) 
 in the case of the Vendor: 
 Address: Building A4 Fenghuayuan Drive-in Theater, No. 21 Liang Maqiao Road, Chaoyang District, Beijing, China, 100124   
 Fascimile number:
 To be advised 
 Email address: avis.zhu@sunsevenstars.com
 Attention: ZHU Yun
  
 (ii)
 in the case of the Purchaser: 
 Address:  c/o Medisun Holdings Limited, 25/F., Octa Tower, 8 Lam Chak Street, Kowloon Bay, Hong Kong
 

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 Facsimile number:  +852 2582 0199
 Email address: 
 notice@medisun.hk
 Attention:  The Board of Directors
  
 or to such other address, email address or facsimile number as the relevant party may have notified to the other by not less than seven (7) calendar days’ written notice to the other party before the notice was dispatched. 
  
 Unless there is evidence that it was received earlier, a notice is deemed given if: 
 (i)
 delivered personally, when left at the address referred to in this clause; 
 (ii)
 sent by courier, three (3) calendar days after posting it;  
 (iii)
 sent by facsimile, upon receipt of the successful fax delivery confirmation; or  
 (iv)
 sent by email, three (3) calendar days after sending it. 
 

 9.7
 Each party to this Agreement has been advised to seek appropriate professional and legal advice prior to the entering into of this Agreement. 
 

 9.8
 All stamp duty (if any) payable in respect of the sale and purchase of the Sale Shares shall be equally borne by the Vendor and Purchaser equally. 
 

 10.
 GOVERNING LAW AND JURISDICTION
 

 10.1
 This Agreement shall be governed by, and construed in accordance with, the laws of Hong Kong.  
 

 10.2
 The Vendor and the Purchaser hereby irrevocably submit to the non-exclusive jurisdiction of the courts of Hong Kong.
 

 [Signature Page Follows]
 

 

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 IN WITNESS whereof this Agreement has been duly executed by all parties hereto the day and year first above written. 
 

 

 THE VENDOR
 

 SIGNED by BRUNO ZHENG WU, a director
 )
 

 

 

  /s/ Bruno Zheng Wu                     
 

 for and on behalf of
 )
 SUN MEDICAL OPERATION COMPANY LIMITED
 )
 

 

 

 

 

 

 

 

 

 

 

 

 

 THE PURCHASER
 

 SIGNED by HUANG Lisha, a director
 )
 

 

 

  /s/ Lisha Huang                           
 

 for and on behalf of
 )
 MEDISUN PRECISION MEDICINE LTD.
 )
 

 

 

 9Exhibit 10.3

 

EXECUTION VERSION

 

THIRD AMENDMENT, dated as of July 20, 2017 (this “Amendment”) to the 5-Year Credit Agreement, dated as of November 10, 2011 (as amended from time to time, the “Credit Agreement”), among INTERNATIONAL BUSINESS MACHINES CORPORATION (“IBM”), JPMORGAN CHASE BANK, N.A., as Administrative Agent, the Subsidiary Borrowers parties thereto (the “Subsidiary Borrowers”), the Lenders parties thereto, and the Syndication Agents and Documentation Agents named therein. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 

RECITALS

 

WHEREAS, IBM has requested that the Credit Agreement be amended as set forth herein.

 

WHEREAS, pursuant to, and in compliance with the requirements of, Section 11.1 of the Credit Agreement, the Required Lenders are willing to agree to this Amendment on the terms set forth herein.

 

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto agree as follows:

 

SECTION 1.  Amendments to Credit Agreement. As of the Third Amendment Effective Date (as defined below), the Credit Agreement is hereby amended as follows:

 

(a)         Section 1.1 of the Credit Agreement shall be amended by:

 

(i)            adding the following new defined term in the appropriate alphabetical order:

 

“2018 Extension Date” as defined in Section 2.21(a).”; and

 

“Alignment Termination Date”: as defined in Section 2.21(a).”

 

(ii)           amending and restating the definition of “Existing Termination Date” in its entirety, as follows:

 

“Existing Termination Date”: as defined in Section 2.21(a).”; and

 

(iii)          amending and restating the definition of “Termination Date” in its entirety, as follows:

 

“Termination Date”: November 10, 2016, as such date may be extended pursuant to Section 2.21 (including any extension to the Alignment Termination Date and any subsequent extension of the Alignment Termination Date pursuant to Section 2.21).”

 

(b)         Section 2.21 of the Credit Agreement shall be amended and restated in its entirety, as follows:

 

“2.21      Extension of Termination Date.    (a) IBM may, by written request (an “Extension Request”) to the Administrative Agent, substantially in the form of Exhibit J, delivered (i) at any time during the period from May 21, 2018 to July 20, 2018 (such extension date, the “2018 Extension Date”) and (ii) at any time during the 60-day period preceding each subsequent anniversary of the 2018 Extension Date, request that the Lenders extend the Termination Date then in effect (the “Existing Termination Date”) (x) in the case of foregoing

 

 

clause (i), to July 20, 2023 (the “Alignment Termination Date”) and (y) in the case of foregoing clause (ii), by one year.

 

(b)  Upon receipt of an Extension Request, the Administrative Agent shall promptly notify each Lender thereof, and each Lender shall notify the Administrative Agent in writing by the deadline (the “Extension Request Deadline”) specified in such Extension Request, which deadline shall in any case not be later than 5:00 P.M., New York City time, on the date which is 30 days after delivery of such Extension Request, of such Lender’s election, in its sole discretion, (i) to extend the Existing Termination Date as set forth in the Extension Request (provided that the Existing Termination Date shall be so extended only to the extent expressly provided in paragraph (c) below) or (ii) not to extend the Existing Termination Date (any Lender not electing to extend, a “Non-Extending Lender”).  Any Lender that fails to notify the Administrative Agent in writing of its election by the Extension Request Deadline shall be deemed to be a Non-Extending Lender.

 

(c)  If Lenders whose Revolving Credit Commitments aggregate at least 51% of the Revolving Credit Commitments of all Lenders agree to extend the Existing Termination Date, then the Existing Termination Date shall automatically be so extended as of the Extension Request Deadline, provided that any Lender that became a Non-Extending Lender pursuant to any previous Extension Request shall be deemed to be a Non-Extending Lender in respect of each subsequent Extension Request, and provided, further, that if all Lenders do not agree to extend the Existing Termination Date, then (i) IBM shall have the right to cancel any such extension by so notifying the Administrative Agent within five Business Days after the relevant Extension Request Deadline, in which case the Existing Termination Date shall not be extended and (ii) in the event that such extension is not so cancelled, then, with respect to each Non-Extending Lender, IBM shall either (directly or, where applicable, through the relevant Subsidiary Borrowers):

 

(x)  (i) during the six-month period preceding the Existing Termination Date, on each date on which US$ Loans are borrowed or continued as, or converted into, Eurodollar Loans having an Interest Period ending after the Existing Termination Date, repay the portion of such Non-Extending Lender’s Loans which would otherwise have been part of such borrowing, continuation or conversion and permanently reduce such Non-Extending Lender’s Revolving Credit Commitment by a like amount, (ii) on the Existing Termination Date, terminate the Revolving Credit Commitment and Swing Line Commitment (if any) of such Non-Extending Lender and repay the then outstanding US$ Loans made by such Non-Extending Lender, together with accrued but unpaid interest, facility fees and all other amounts then due and payable to such Non-Extending Lender hereunder, including, without limitation, amounts payable pursuant to Section 2.19, and (iii) on the Existing Termination Date either (A) terminate the Commitments of such Non-Extending Lender under any Local Currency Facility and repay the then outstanding Local Currency Loans made by such Non-Extending Lender, together with accrued but unpaid interest, facility fees and all other amounts then due and payable to such Non-Extending Lender under any Local Currency Facility or (B) to the extent the option described in clause (A) above is not exercised, obtain the written agreement of such Non-Extending Lender that the loans and other obligations outstanding under each relevant Local Currency Facility shall on the Existing Termination Date automatically cease to be subject to the terms of this Agreement (including the guarantee of IBM contained in Section 10); or

 

2

 

(y)  at any time prior to the Existing Termination Date, cause one or more banks or other financial institutions to purchase at par, pursuant to Section 11.8, such Non-Extending Lender’s Revolving Credit Commitment and outstanding US$ Loans (which purchase shall be accompanied by payment of accrued but unpaid interest, facility fees and all other amounts then due and payable to such Non-Extending Lender hereunder, including, without limitation, amounts payable pursuant to Section 2.19), in which case such Non-Extending Lender shall, promptly upon request by IBM, agree to transfer its Revolving Credit Commitment and US$ Loans upon the terms and subject to the conditions of Section 11.8 to such banks or other financial institutions (provided that the registration and processing fee referred to therein shall be paid by either IBM or the relevant transferee); provided, that on the date (the “Purchase Date”) of any such purchase of such Non-Extending Lender’s Revolving Credit Commitment and US$ Loans, such Non-Extending Lender’s Swing Line Commitment (if any) shall be terminated, and provided, further, that on the Purchase Date either (A) the Commitments of such Non-Extending Lender under any Local Currency Facility shall be terminated or purchased and the then outstanding Local Currency Loans made by such Non-Extending Lender shall be repaid or purchased (which repayment or purchase shall be accompanied by payment of accrued but unpaid interest, facility fees and all other amounts then due and payable to such Non-Extending Lender under any Local Currency Facility), in each case on terms satisfactory to such Non-Extending Lender, or (B) to the extent the option described in clause (A) above is not exercised, IBM shall have obtained the written agreement of such Non-Extending Lender that the loans and other obligations outstanding under each relevant Local Currency Facility shall on such Purchase Date automatically cease to be subject to the terms of this Agreement (including the guarantee of IBM contained in Section 10).”

 

SECTION 2.  Conditions to Effectiveness of Third Amendment.  This Amendment shall become effective (the “Third Amendment Effective Date”) upon the satisfaction of the following conditions precedent:

 

(a)  the Administrative Agent (or its counsel) shall have received duly executed counterparts hereof that, when taken together, bear the signatures of IBM, the Subsidiary Borrowers and Lenders representing the Required Lenders; and

 

(b)  each of (i) the 364-Day Credit Agreement, dated as of July 20, 2017, among IBM, IBM Credit LLC, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other agents and parties party thereto and (ii) the Three-Year Credit Agreement, dated as of July 20, 2017, among IBM, IBM Credit LLC, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other agents and parties party thereto, shall be effective.

 

SECTION 3.  Effects on Credit Agreement.  Except as specifically amended herein, all provisions of the Credit Agreement shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.  Except as otherwise expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement or constitute a waiver of or consent to any departure from any term or provision of the Credit Agreement  or to any further or future action on the part of IBM or the Subsidiary Borrowers that would require a waiver or consent of the Required Lenders or the Administrative Agent. Upon and after the execution of this Amendment by each of the parties hereto, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit

 

3

 

Agreement, shall mean and be a reference to the Credit Agreement as modified hereby.  This Amendment shall constitute a Loan Document.

 

SECTION 4.  Expenses.  IBM shall reimburse the Administrative Agent for all reasonable and documented out-of-pocket costs and expenses, including, reasonable and documented attorneys’ fees, in connection with or relating to this Amendment.

 

SECTION 5.  Integration.  This Amendment represents the agreement of IBM, the Subsidiary Borrowers, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any Lender relative to subject matter hereof not expressly set forth or referred to herein.

 

SECTION 6.  GOVERNING LAW; WAIVER OF JURY TRIAL.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. EACH OF THE BORROWERS, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND FOR ANY COUNTERCLAIM THEREIN.

 

SECTION 7.  Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Agreement by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.  A set of the copies of this Amendment signed by all the parties shall be lodged with IBM and the Administrative Agent.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered by their respective proper and duly authorized officers as of the day and year first above written.

 

	
 
    	
International   Business Machines Corporation
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Simon J. Beaumont
    
	
 
    	
Name: 
    	
Simon J. Beaumont
    
	
 
    	
Title:
    	
Vice President, Tax and Treasurer
    
	
 
    	
 
    
	
 
    	
JPMorgan   Chase Bank, N.A.,
    
	
 
    	
as Administrative Agent and Lender
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Peter Thauer
    
	
 
    	
Name: 
    	
Peter Thauer
    
	
 
    	
Title:
    	
Managing Director
    
	
 
    	
 
    
	
 
    	
BNP   Paribas
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Brendan Heneghan
    
	
 
    	
Name: 
    	
Brendan Heneghan
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Ade Adedeji
    
	
 
    	
Name: 
    	
Ade Adedeji
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    
	
 
    	
Citibank,   N.A.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Susan M. Olsen
    
	
 
    	
Name: 
    	
Susan M. Olsen
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    
	
 
    	
Royal   Bank of Canada
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Mark Gronich
    
	
 
    	
Name: 
    	
Mark Gronich
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
Mizuho   Bank, Ltd.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Daniel Guevara
    
	
 
    	
Name: 
    	
Daniel Guevara
    
	
 
    	
Title:
    	
Authorized Signatory
    
					

 

 

	
 
    	
Bank   of America, N.A.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/  Christopher G. Fallone
    
	
 
    	
Name: 
    	
Christopher G. Fallone
    
	
 
    	
Title:
    	
Associate
    
	
 
    	
 
    
	
 
    	
Barclays   Bank PLC
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Christopher M. Aitkin
    
	
 
    	
Name:  
    	
Christopher M. Aitkin
    
	
 
    	
Title:
    	
Assistant Vice President
    
	
 
    	
 
    
	
 
    	
Deutsche   Bank AG New York Branch
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Ming K Chu
    
	
 
    	
Name: 
    	
Ming K Chu
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Virginia Cosenza
    
	
 
    	
Name: 
    	
Virginia Cosenza
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    
	
 
    	
HSBC   Bank USA, National Association
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Jonathan Yip
    
	
 
    	
Name: 
    	
Jonathan Yip
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    
	
 
    	
Societe   Generale
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Paul Dalle-Molle
    
	
 
    	
Name: 
    	
Paul Dalle-Molle
    
	
 
    	
Title:
    	
Managing Director
    
	
 
    	
 
    
	
 
    	
Wells   Fargo Bank N.A.
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Sid Khanolkar
    
	
 
    	
Name: 
    	
Sid Khanolkar
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    
	
 
    	
Mitsubishi   UFJ Trust and Banking Corporation
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Kota Goto
    
	
 
    	
Name: 
    	
Kota Goto
    
	
 
    	
Title:
    	
Senior Vice President
    
	
 
    	
 
    
	
 
    	
The   Bank of Tokyo-Mitsubishi UFJ, LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Lillian Kim
    
	
 
    	
Name: 
    	
Lillian Kim
    
	
 
    	
Title:
    	
Director
    
				

 

 

	
 
    	
Banco   Santander, S.A.
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Alejandro Zala
    
	
 
    	
Name: 
    	
Alejandro Zala
    
	
 
    	
Title:
    	
Associate
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Paloma Garcia
    
	
 
    	
Name: 
    	
Paloma Garcia
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Commerzbank   AG, New York Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Scott Webster
    
	
 
    	
Name: 
    	
Scott Webster
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Jonas Ryan
    
	
 
    	
Name: 
    	
Jonas Ryan
    
	
 
    	
Title:
    	
Associate
    
	
 
    	
 
    	
 
    
	
 
    	
Credit   Suisse AG, Cayman Islands Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Christopher Day
    
	
 
    	
Name: 
    	
Christopher Day
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Tino Schaufelberger
    
	
 
    	
Name: 
    	
Tino Schaufelberger
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
Goldman   Sachs Bank USA
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Ryan Durkin
    
	
 
    	
Name: 
    	
Ryan Durkin
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
ING   Bank N.V., Dublin Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Padraig Matthews
    
	
 
    	
Name: 
    	
Padraig Matthews
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Ciaran Dunne
    
	
 
    	
Name: 
    	
Ciaran Dunne
    
	
 
    	
Title:
    	
Director
    
				

 

 

	
 
    	
U.S.   Bank National Association
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Paul F. Johnson
    
	
 
    	
Name: 
    	
Paul F. Johnson
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
Unicredit   Bank AG, New York Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Kimberly Sousa
    
	
 
    	
Name: 
    	
Kimberly Sousa
    
	
 
    	
Title:
    	
Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Eleni Athanasatos
    
	
 
    	
Name: 
    	
Eleni Athanasatos
    
	
 
    	
Title:
    	
Associate Director
    
	
 
    	
 
    	
 
    
	
 
    	
Bank   of China, New York Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Raymond Qiao
    
	
 
    	
Name: 
    	
Raymond Qiao
    
	
 
    	
Title:
    	
Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
Sumitomo   Mitsui Banking Corp.
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ James D. Weinstein
    
	
 
    	
Name: 
    	
James D. Weinstein
    
	
 
    	
Title:
    	
Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
Australia   and New Zealand Banking Group Limited
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Robert Grillo
    
	
 
    	
Name: 
    	
Robert Grillo
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
PNC   Bank, National Association
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Michael Richards
    
	
 
    	
Name: 
    	
Michael Richards
    
	
 
    	
Title:
    	
SVP and Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
Standard   Chartered Bank
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Daniel Mattern
    
	
 
    	
Name: 
    	
Daniel Mattern
    
	
 
    	
Title:
    	
Associate Director
    
				

 

 

	
 
    	
Toronto   Dominion (New York) LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Annie Dorval
    
	
 
    	
Name: 
    	
Annie Dorval
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
Banco   Bilbao Vizcaya Argentaria, S.A., New York Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Brian Crowley
    
	
 
    	
Name: 
    	
Brian Crowley
    
	
 
    	
Title:
    	
Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Cara Younger
    
	
 
    	
Name: 
    	
Cara Younger
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
Banco   Bradesco S.A., New York Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Adrian A.G. Costa
    
	
 
    	
Name: 
    	
Adrian A. G. Costa
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Mauro Lopes
    
	
 
    	
Name: 
    	
Mauro Lopes
    
	
 
    	
Title:
    	
Manager
    
	
 
    	
 
    	
 
    
	
 
    	
Canadian   Imperial Bank of Commerce, New York Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Robert Robin
    
	
 
    	
Name: 
    	
Robert Robin
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Melissa Brown
    
	
 
    	
Name: 
    	
Melissa Brown
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    	
 
    
	
 
    	
Danske   Bank A/S
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Merete Ryvald
    
	
 
    	
Name: 
    	
Merete Ryvald
    
	
 
    	
Title:
    	
Chief Loan Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Gert Carstens
    
	
 
    	
Name: 
    	
Gert Carstens
    
	
 
    	
Title:
    	
Senior Loan Manager
    
				

 

 

	
 
    	
Industrial   and Commercial Bank of China Limited,
    
	
 
    	
New York Branch
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Yuanyuan Peng
    
	
 
    	
Name: 
    	
Yuanyuan Peng
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Dayi Liu
    
	
 
    	
Name: 
    	
Dayi Liu
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
Lloyds   Bank plc
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Daven Popat
    
	
 
    	
Name: 
    	
Daven Popat
    
	
 
    	
Title:
    	
Senior Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Erin Walsh
    
	
 
    	
Name: 
    	
Erin Walsh
    
	
 
    	
Title:
    	
Assistant Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
Raiffeisen   Bank International AG
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ P. Straubinger
    
	
 
    	
Name: 
    	
P. Straubinger
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Natalie Egger-Grunicke
    
	
 
    	
Name: 
    	
Natalie Egger-Grunicke
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
The   Northern Trust Company
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Sophia E. Love
    
	
 
    	
Name: 
    	
Sophia E. Love
    
	
 
    	
Title:
    	
Senior Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
The   Bank of New York Mellon
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Thomas J. Tarasovich, Jr.
    
	
 
    	
Name: 
    	
Thomas J. Tarasovich, Jr.
    
	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
State   Street Bank & Trust Company
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Andrei Bourdine
    
	
 
    	
Name: 
    	
Andrei Bourdine
    
	
 
    	
Title:
    	
Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00273-of-00352.parquet"}]]