Document:

Exhibit 4.3

 

 

AMENDMENT NO. 2 TO

AMENDED AND RESTATED RIGHTS AGREEMENT

 

AMENDMENT NO. 2 (this “Amendment No. 2”), dated as of May 27, 2010, to the Rights Agreement dated as of June 1, 2000, as amended and restated as of April 12, 2007 and as further amended by Amendment No. 1 thereto dated as of December 10, 2007 (as so amended, the “Rights Agreement”) between Orient-Express Hotels Ltd., a Bermuda company (the “Company”), and Computershare Trust Company, N.A., a national banking institution, as Rights Agent (the “Rights Agent”).

 

W I T N E S S E T H

 

WHEREAS, Section 27 of the Rights Agreement permits the amendment of the Rights Agreement by the Company and the Rights Agent;

 

WHEREAS, pursuant to resolutions adopted on May 27, 2010, the Board of Directors of the Company adopted and authorized an amendment of the Rights Agreement as set forth below; and

 

WHEREAS, the Board of Directors of the Company and the Rights Agent have determined that such amendment is desirable and consistent with, and for the purpose of fulfilling, the objectives of the Board of Directors of the Company in connection with the original adoption of the Rights Agreement;

 

NOW, THEREFORE, the Company and the Rights Agent hereby amend the Rights Agreement as follows:

 

	
1.  

	
Section 2.  Appointment of Rights Agent.

 

Section 2 of the Rights Agreement is hereby amended to delete from the first sentence thereof the following language: “and the holders of the Rights (who, in accordance with Section 3 hereof, shall prior to the Distribution Date also be the holders of the Voting Shares)”.

 

	
2.  

	
Section 3.  Issue of Right Certificates.

 

Section 3(c) of the Rights Agreement is hereby amended to delete in its entirety the first sentence of the legend and to insert in its place the following language:

 

“This certificate also evidences and entitles the holder hereof to certain rights as set forth in a Rights Agreement between Orient-Express Hotels Ltd. and Computershare Trust Company N.A., dated as of June 1, 2000, as amended and 

 

 

  

  

  

 

 

restated as of April 12, 2007 and as further amended by Amendment No. 1 thereto dated as of December 10, 2007 and Amendment No. 2 thereto dated as of May 27, 2010 (the “Rights Agreement”), the terms of which are hereby incorporated herein by reference and a copy of which is on file at the principal executive offices of Orient-Express Hotels Ltd.”

 

	
3.  

	
Section 7. Exercise of Rights; Purchase Price; Expiration Date of Rights.

 

Section 7(a) of the Rights Agreement is hereby amended to delete in its entirety clause (i) thereof and to insert in its place the following clause:

 

“(i) the close of business on June 1, 2020 (the “Final Expiration Date”),”

 

	
4.  

	
Section 7. Exercise of Rights; Purchase Price; Expiration Date of Rights.

 

Section 7(b) of the Rights Agreement is hereby amended to delete the amount “$142” in its entirety and to insert in its place the amount “$70”.

 

	
5.  

	
Section 21.  Change of Rights Agent.

 

	
(a)  

	
The first sentence of Section 21 of the Rights Agreement is hereby amended to delete the following language: “and to the holders of the Right Certificates by first-class mail”.

 

	
(b)  

	
The sixth sentence of Section 21 of the Rights Agreement is hereby amended to insert at the end thereof the following language:               ”, including the capital and surplus of its affiliates”.

 

	
6.  

	
Exhibit B. Form of Right Certificate.

 

Exhibit B of the Rights Agreement is hereby amended to replace (i) the date “June 1, 2010” in each place it appears with the date “June 1, 2020”, (ii) the clause “the Rights Agreement, dated as of June 1, 2000, and amended and restated as of April 12, 2007 (the “Rights Agreement”)” in the last paragraph of page B-1 with the clause “the Rights Agreement, dated as of June 1, 2000, as amended and restated as of April 12, 2007 and as further amended by Amendment No. 1 thereto dated as of December 10, 2007 and Amendment No. 2 thereto dated as of May 27, 2010 (as so amended, the “Rights Agreement”)”, (iii) the amount “$142” in the last paragraph on page B-1 with the amount “$70” and (iv) the date “June 1, 2000” in the penultimate sentence of the last paragraph on page B-1 thereof with “May 27, 2010”.

 

  

2

  

 

 

	
7.  

	
Governing Law.

 

This Amendment No. 2 shall be deemed to be a contract made under the laws of the Islands of Bermuda and for all purposes shall be governed by and construed in accordance with such laws, except that the rights, duties and obligations of the Rights Agent shall be governed by and construed in accordance with the laws of the State of New York.

 

	
8.  

	
Effectiveness.

 

This Amendment No. 2 shall be effective from the date hereof, and all references to the Rights Agreement shall, from and after such time, be deemed to be references to the Rights Agreement as amended hereby.

 

	
9.  

	
Counterparts.

 

This Amendment No. 2 may be executed in any number of counterparts and each of such counterparts shall for all purposes deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

 

  

3

  

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly executed and their respective corporate seals to be hereunto affixed and attested, all as of the day and year first above written.

 

	
Attest:

	 	
ORIENT-EXPRESS HOTELS LTD.

 

	 
	
By:

	

/s/ Edwin S. Hetherington

	 	
By:

	

/s/ Paul M. White

	 
	  	
Name:

	
Edwin S. Hetherington

	 	  	
Name:

	
Paul M. White

	 
	  	
Title:

	
Vice President, General Counsel and

Secretary

	 	  	
Title:

	
President and Chief Executive Officer

	 

 

 

	
Attest:

	 	
COMPUTERSHARE TRUST COMPANY, N.A.

 

	 
	
By:

	

/s/ Suzanne S. O’Brien

	 	
By:

	

/s/ Dennis V. Moccia

	 
	  	
Name:

	
Suzanne S. O’Brien

	 	  	
Name:

	
Dennis V. Moccia

	 
	  	
Title:

	
Corporate Counsel

	 	  	
Title:

	
Manager, Contract Administrationexv10w1

Exhibit 10.1

Woori Bank must explain the material contents hereof to the Borrower, and
deliver the General Terms and Conditions for Bank Credit Transactions and a
copy of this Credit Facility Agreement to the Borrower.

Credit Facility Agreement

(For Corporate Borrower)

	 	 	 	 	 

	To: Woori Bank

	 	 
	 	Date: May 24, 2010

	 	 	 	 	 

	 

	 	Borrower:
	 	Amkor Technology Korea, Inc. ((seal))
	 

	 	 	 	Representative Director JooHo Kim
/s/ JooHo Kim
	 

	 	Address:
	 	280-8, Sungsoo-dong 2-ga, Sungdong-gu
	 

	 	 	 	Seoul

	 	 	 

	Seal Authenticity 

Verification
	 
	 	 

The Borrower hereby acknowledges and agrees that, in entering into a transaction with Woori
Bank (the “Bank”) as contemplated by the terms of this credit facility agreement, the “Bank Credit
Transaction Basic Terms and Conditions (For Corporate Borrower)” shall apply, and hereby also agree
to the following terms:

Article 1. Transaction Terms

The terms of the transaction are as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 

	Classification of
Credit Facility
(Credit Type)	 	Foreign Currency
Loan	 	Transaction Category	 	 	 	o credit line

	 	n separate credit
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Amount of Credit
Facility (Limit)

	 	USD 180,000,000	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Drawdown Date	 	June 1, 2010	 	 	 	Maturity Date	 	o June 1, 2013
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Interest Rate	 	[Intentionally deleted]	 	Woori bank funding rate-linked base rate for 3-year loans as
published by the bank plus 1.99%, reset quarterly
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Default
Interest Rate
(Article 3, Section
5 of the Bank
Credit Transaction
Basic Terms and
Conditions is
applicable)	 	Less than 3 months: 17% p.a.

3 months or more: 19% p.a.	 	 	 	 	 	 

Woori Bank

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 

	Calculation of
Interest	 	Calculated on a daily basis based on 365 days a year (provided that, in foreign exchange transactions,
the international practice, commercial business practice, etc. shall be followed)
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	[intentionally
deleted]
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	[intentionally
deleted]
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Prepayment Fees	 	[intentionally deleted]	 	[intentionally deleted]	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Loan denominated in a foreign currency:

0.5%, if the remaining period is shorter than 1 year; and

0.5%, if the remaining period is 1 year or longer.
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Drawdown	 	Drawdown of the entire amount on the drawdown date.
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Repayment Method	 	Repayment of U$5,000,000 shall be made in installments of every three (3) months.
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Interest Payment
Dates and Method	 	The first interest payment shall be made on or prior to the date falling three (3) months from the
drawdown date, and the interest thereafter shall be made within three (3) months from the date falling
one (1) day after the end of the previous interest period.
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	[intentionally
deleted]
	 	 	 	 	 	 	 	 	 	 	 	 

Article 2. Default Interest

	 	(1)	 	As to any due but unpaid interest, installment payment of principal, and installment
payment of principal and interest, a default interest thereof shall be paid immediately.

	 	(2)	 	If there is a failure to satisfy the debt on the maturity date or the loan becomes
accelerated pursuant to Article 7 of General Terms and Conditions for Bank Credit
Transactions, a default interest shall be paid immediately as to the outstanding credit
facility amount.

	 	(3)	 	[intentionally deleted]

Article 3. Change of Loan Interest Rate

	 	(1)	 	[intentionally deleted]

	 	(2)	 	[intentionally deleted]

	 	(3)	 	[intentionally deleted]

	 	(4)	 	[intentionally deleted]

	 	(5)	 	[intentionally deleted]

Woori Bank

 

 

	 	(6)	 	[intentionally deleted]

	 	(7)	 	There are two applicable standards to set base interest rates for foreign currency
loan, that is, “LIBOR-linked base interest rate” and “Woori bank funding rate-linked
base rate” The “LIBOR-linked base interest rate” is decided by applicable term LIBOR
rate of one business day prior to drawdown date. The “Woori bank funding rate-linked
base rate” is decided by applicable term LIBOR rate of one business day prior to
drawdown date plus average foreign currency funding spread in recent 3 months. The 3
months (or 6 months) LIBOR and foreign currency funding spread, which are applied to each
base interest rate, changes on drawdown date and every 3 months (or 6 months) from that
date. The 3 months (or 6 months) LIBOR is the interest rate that “BBA’s public announced
at morning 11 o’clock in London, England offered by public confident telecom companies
(Reuter, Bloomberg etc.) The rate changes in every 3 months (or 6 months).

	 	(8)	 	[intentionally deleted]

	 	(9)	 	[intentionally deleted]

	 	(10)	 	[intentionally deleted]

Article 4. Determination of Total Amount of Loan and Notification of Installment Repayment Schedule

	 	(1)	 	[intentionally deleted]

	 	(2)	 	In case of any credit facility to be repaid in installments except for either loans
based on regular installment savings (jeokkeum in Korean) or grants, the Bank shall
prepare and notify the obligors of a schedule for the repayment in installments of the
fixed total debt amount.

Article 5. [intentionally deleted]

Article 6. [intentionally deleted]

Article 7. [intentionally deleted]

Article 8. [intentionally deleted]

Article 9. [intentionally deleted]

Article 10. Prepayment Fees

Woori Bank

 

 

	 	(1)	 	If the Borrower prepays the loan provided by the Bank prior to the agreed maturity
date (including, if the maturity is extended, the maturity date as extended; hereinbelow
the same), the Borrower shall pay the Bank the prepayment fees as set forth in Section
10(2) below.
	 
	 	(2)	 	The prepayment fees shall be an amount equal to the Prepaid Amount multiplied by the
applicable prepayment fee rate as set forth in Article 1, and the Prepaid Amount, etc.
shall be calculated as follows:

	 	1.	 	“Prepaid Amount” shall mean an amount of the loan prepaid prior to the
agreed due date or, in case of a loan to be repaid in installments, an amount of the
loan prepaid prior to the due date of any installment repayment).
	 
	 	2.	 	“Remaining Period” shall mean a period from the date of prepayment to the
agreed due date or, in case of a loan to be repaid in installments, the Remaining
Period shall be calculated with respect to each scheduled installment repayment, and,
in case of prepayment of a loan in part, the prepayment shall be applied in the order
of the installment payments of which the due date comes first.
	 
	 	3.	 	[intentionally deleted]
	 
	 	4.	 	[intentionally deleted]

	 	(3)	 	In any of the following cases, the prepayment fees shall be exempted:

	 	1.	 	If the Remaining Period is less than 1 month;
	 
	 	2.	 	If the Borrower make full repayment within 1 month from drawdown date.
	 
	 	3.	 	If the Bank collects the loan prior to the maturity date for the reason of
acceleration or otherwise as set forth in the “General Terms and Conditions for Bank
Credit Transactions”;
	 
	 	4.	 	If the Borrower is a company subject to workout or restructuring
proceedings and the prepayment is made upon agreement with the Bank;
	 
	 	5.	 	If an outside source loan, however, excluding a credit line loan (including
a passbook loan), consumer financing, and a loan subject to the limit of a maximum
amount;
	 
	 	6.	 	If a floating P-Rate loan is prepaid within 1 month from the interest rate
change date due to the increase of P-Rate; and
	 
	 	7.	 	If the full amount is prepaid within 1 month from any interest rate change

Woori Bank

 

 

	 	 	 	date by the reason that Bank changes “6-months, 1-year, 3-year, 5-year floating rate
base interest rate” of “6-months, 1-year, 3-year, 5-year floating rate based loan”
by applying “ the adjustment factor”.
	 
	 	8.	 	If the amount of credit facility does not exceed the amount of deposits in
a savings account or a regular installment savings account with the Bank, a
beneficiary certificate of the Bank or financial receivables that could be utilized
as security.

Article 11. Stamp Tax

	 	(1)	 	The Borrower shall be responsible for all stamp taxes relating to this Agreement.

	 	(2)	 	If the Bank pays on behalf of the Borrower any stamp tax payable by the Borrower
under Section 11(1) above, the Borrower shall promptly repay the Bank such stamp tax
amount pursuant to Article 4 of the Bank Credit Transaction Basic Terms and Conditions.

Article 12. [intentionally deleted]

Article 13. Currency and Exchange Rate

The principal and interest of a foreign-currency denominated loan may be repaid in the foreign
currency in which the loan was extended or Korea Won, and in case of repayment in Korean Won, an
applicable exchange rate shall be the telegraphic transfer selling rate to the customers as of the
date of repayment.

Article 14. Security; Insurance

Unless otherwise expressly communicated by the Bank, the Borrower shall grant to the Bank the
facilities constructed or installed with the funds from the credit facility extended hereby,
together with the land and buildings at which they are established and other facilities inside of
them, as security in favor of the Bank, and if requested by the Bank, the Borrower shall subscribe
to insurances in such types and amounts as agreed to by the Bank and shall grant pledge over the
rights to claim the insurances proceeds in favor of the Bank.

Article 15. [intentionally deleted]

Article 16. [intentionally deleted]

Article 17. Submission of Materials, etc.

	 	(1)	 	The Borrower shall submit to the Bank the following materials which are requested to
be periodically submitted pursuant to Sections 17 and 19 of General Terms and Conditions
for Bank Credit Transactions, and, at the

Woori Bank

 

 

	 	 	 	request of the Bank, submit any other materials necessary for the post drawdown
supervision of the credit facility:

	 	1.	 	Every quarter: a value added tax report, a total balance schedule, a table
of status of liabilities, a list of buyers, and a table of estimated sales per goods,
etc.;
	 
	 	2.	 	Every half year: a semi-annual financial statement, a value added tax
report, a total balance schedule, a table of status of liabilities, a list of buyers,
and a table of estimated sales per goods, etc.;
	 
	 	3.	 	Every year: an audit report prepared by CPA (final financial statements),
consolidated financial statements, corporate registry extracts, business registration
certificate, a shareholder registry, articles of incorporation, a summary sheet of
earned income taxes withheld, business plan, a projected financial statements (for 3
years), information on major business partners, copies of various permits, approvals
and documents relating to certified technology (KS, ISO, patent, etc.), a
confirmation letter on labor disputes, other operating manuals for goods, reference
materials regarding the Borrower’s industry, etc.; and
	 
	 	4.	 	At any time: a total balance schedule, a table of status of liabilities,
document confirming use of proceeds, etc.

	 	(2)	 	The Borrower shall, at the request of the Bank, submit to the Bank the following
materials which the Bank, at the time of evaluating the credit standing of the Borrower,
requests for the purpose of understanding the Borrower’s status of foreign exchange risks
and its management thereof:

	 	1.	 	Status of management system on FX risks and rules on management of FX
risks;
	 
	 	2.	 	Status of procurement, and use/operation, of foreign currency funds; and
	 
	 	3.	 	Status of transactions of foreign-currency denominated derivatives.

Article 18. Other Special Agreement

	 	 	 	 	 

	If there is any conflict or
discrepancy between the
Korean version of this
Agreement and the English
version of this Agreement,
the Korean version of this
Agreement shall prevail.

	 	Borrower
	 	Amkor Technology Korea,
Inc., Representative
Director JooHo Kim ((seal)) /s/ JooHo Kim

280-8, Sungsoo-dong 2-ga,
Sungdong-gu, Seoul
	 
	 	 	 	 
	The Borrower has
received the Bank Credit
Transaction Basic Terms and
Conditions and a copy of this
Agreement, and have been
sufficient explained of, and
understands, the material
contents thereof.

	 	Borrower
	 	Amkor Technology Korea,
Inc., Representative
Director JooHo Kim
((seal)) /s/ JooHo Kim

280-8, Sungsoo-dong
2-ga, Sungdong-gu, Seoul

Woori Bank

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