Document:

Letter Agreement

 Exhibit 10.1 
 May 12, 2008 
 MercadoLibre, Inc. 
 Tronador 4890, 8th Floor 
 C1430DNN Buenos Aires, Argentina 
 Attention:
Nicolas Szekasy 
 E-Mail: nicolas@mercadolibre.com 
 Gentlemen,

 Reference is hereby made to (1) that certain Stock Purchase Agreement, dated as of December 27, 2007 (the “Stock Purchase
Agreement”), entered into by and among 2050 CAPITAL GROUP INC., a Panama corporation (“2050 Capital Group”), ABAX GROUP INC., a Panama corporation (“Abax Group”), GABINETE DE DISEÑO INDUSTRIAL INC., a Panama
corporation (“Gabinete de Diseño Industrial”), STAMFORD ONE GROUP LTD., a British Virgin Islands limited company (“Stamford One Group”), EO FINANCIAL GROUP INC., a Panama corporation (“EO Financial Group”), MECK
INVESTMENTS LTD., a British Virgin Islands limited company, CG INTERVENTURES INC., a Panama corporation (“CG Interventures”), Luis Carlos Uzcategui (“Uzcategui”), an individual, Luis Miguel Molina (“Molina”), an
individual, Roberto Rivas (“Rivas”), an individual, and Jorge Caldas (“Caldas”), an individual (each, a “Seller” and collectively, the “Sellers”), CMG CLASSIFIED MEDIA GROUP, INC., a company organized under
the laws of the Republic of Panama (“CMG”), and MERCADOLIBRE, INC., a Delaware corporation (“MercadoLibre” and together with Sellers and CMG, sometimes referred to individually as “Party” or collectively as the
“Parties”) and (2) that certain escrow agreement, dated as of December 27, 2007 (the “Escrow Agreement”) by and among the Escrow Agent (as such term is defined therein), MercadoLibre and the Sellers. All capitalized
terms used in this letter agreement not defined herein shall have their respective meanings as set forth in the Stock Purchase Agreement or the Escrow Agreement (as applicable). 
 Further reference is made to Section 2.5(b) of the Stock Purchase Agreement, whereby the Escrow Management Funds consisting of US$1,975,620.00 were
to be held in escrow by the Escrow Agent for a period of twelve (12) months after the Closing Date pursuant to the terms and conditions of the Escrow Agreement. 
 This letter agreement confirms that each of MercadoLibre and the Management Shareholders hereby agrees to release the Escrow Management Funds in their entirety on a date to be determined by MercadoLibre in its sole
discretion, but in no event later than June 30, 2008, as follows: 
 (1) US$55,750.37 (the “Escrow Management Funds ML
Payment”) shall be released in favor of MercadoLibre by wire transfer to the following account of MercadoLibre: 
 Wachovia Bank

 3442 Orange Ave NE 
 Roanoke,
Virginia 24012 
 ABA 051400549 

 Beneficiary: First Clearing, LLC 
 Acct#: 5050000000631 
 Further Credit:
4151-5635; and 
 (2) the balance of the Escrow Management Funds less the Escrow Management Funds ML Payment (in the approximate amount of
US$1,919,870.00 as of the date hereof, plus interest accrued on the Escrow Management Funds from the Closing Date through the date of payment to the Management Shareholders) (the “Early Release Payment”) shall be released by the Escrow
Agent in favor of the Management Shareholders by wire transfer to the account of the Management Shareholders that is identified on Exhibit A hereto. 
 Each of the Management Shareholders and MercadoLibre further acknowledges and agrees that, effective immediately upon the Management Shareholders’ receipt of the Early Release Payment and MercadoLibre’s
receipt of the Escrow Management Funds ML Payment, none of the Management Shareholders or MercadoLibre shall have any further rights or obligations with respect to the Escrow Management Funds under the Stock Purchase Agreement and/or the Escrow
Agreement. 
 Each of the Management Shareholders and MercadoLibre hereby agrees to execute joint instructions to the Escrow Agent to achieve
the purposes of this letter agreement no later than May 19, 2008. Each of the Management Shareholders and MercadoLibre further agrees that such joint instructions shall instruct the Escrow Agent to release the Early Release Payment and the
Escrow Management Funds ML Payment on the same day. 
 Each of the Stock Purchase Agreement and the Escrow Agreement shall remain in full
force and effect in accordance with the terms thereof in effect as of the date hereof, except as otherwise provided herein. Each of the Management Shareholders and MercadoLibre agrees that this letter shall be binding and shall serve as an addendum
to the Stock Purchase Agreement and the Escrow Agreement, and except as expressly set forth herein nothing contained herein shall be construed as a waiver or modification of existing rights or obligations under the Stock Purchase Agreement and/or
the Escrow Agreement. 
 This letter agreement may be executed in any number of counterparts and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall be deemed an original, but all of which shall together constitute one and the same instrument. 
 This letter agreement shall be governed by, construed and interpreted in accordance with the laws of the State of New York without regard to its conflicts of laws provisions. This letter agreement together with the
Stock Purchase Agreement and the Escrow Agreement, constitutes the entire agreement among the parties with respect to the subject matter hereof. 
 [Rest of this page intentionally left blank] 
  

 2 

 If you are in agreement with the contents hereof, kindly execute in the designated space below. 
  

			
	Very truly yours,
	
	MANAGEMENT SHAREHOLDERS:
	
	LUIS CARLOS UZCATEGUI, in his individual capacity
		
	By:	 	 /s/ Luis Carlos Uzcategui

	
	LUIS MIGUEL MOLINA, in his individual capacity
		
	By:	 	 /s/ Luis Miguel Molina

	
	ROBERTO RIVAS, in his individual capacity
		
	By:	 	 /s/ Roberto Rivas

  

			
	AGREED AND ACCEPTED:
	
	MERCADOLIBRE, INC.
		
	By:	 	 /s/ Marcos Galpérin

	Name:	 	Marcos Galpérin
	Title:	 	Chief Executive Officer
	
	CMG CLASSIFIED MEDIA GROUP, INC.
		
	By:	 	 /s/ Marcos Galpérin

	Name:	 	Marcos Galpérin
	Title:	 	Chief Executive Officer
		
	By:	 	 /s/ Nicolás Szekasy

	Name:	 	 Nicolás Szekasy

	Title:	 	Chief Financial Officer

  

 3 

 EXHIBIT A 
 Management Shareholders’ account information for the wire transfer to be made pursuant to this Letter Agreement: 
 TO: HSBC BANK USA NEW YORK

 ACCOUNT NAME: ZOI INVESTMENT INC. 
 ABA: 021001088 

SWIFT: MRMDUS33 
 ACCOUNT NUMBER: 000 300 047 
 IN FAVOR OF: HSBC PRIVATE BANK (LUXEMBOURG) SA 
 IBAN ACCOUNT NUMBER:
LU241470063710546257 
  

 4Consent and Waiver, dated March 24, 2008

 Exhibit 10.11e 
 CONSENT AND WAIVER TO 
 CONSTAR INTERNATIONAL INC.’S 
 CREDIT AGREEMENT 
 CONSENT AND WAIVER,
dated as of March 24, 2008 (this “Consent and Waiver”), by and among Constar International Inc. (the “Borrower”), Citicorp USA, Inc., as agent for the Lenders and Issuers (in such capacity the
“Agent”) and as a Lender, the other Lenders party to the Credit Agreement (as defined below) and each of the Guarantors listed on the signature pages hereof. 
 W I T N E S S E T H: 
 WHEREAS, the Borrower, the Agent, the Lenders and the Issuers, among others, are party to that certain Credit Agreement dated as of
February 11, 2005 as heretofore amended (as the same may be further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”); and 
 WHEREAS, capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in Credit Agreement; and

 WHEREAS, the Borrower agreed, pursuant to Section 6.1(c) of the Credit Agreement, to deliver to the Agent,
within 90 days of the end of each Fiscal Year, audited Consolidated Financial Statements certified “without qualification as to the scope of the audit or as to the Borrower being a going concern by the Borrower’s Accountants” (the
“Specified Covenant”); and 
 WHEREAS, the Borrower has requested that the Agent and the Requisite Lenders
waive the Specified Covenant with respect to the Fiscal Year ended December 31, 2007 to the extent set forth herein; and 
 WHEREAS, the Lenders party hereto (constituting the Requisite Lenders) and the Agent agree, subject to the limitations and conditions set forth herein, to waive the Specified Covenant with respect to the Fiscal Year
ended December 31, 2007 to the extent set forth herein; 
 NOW, THEREFORE, in consideration of the
premises and the covenants and obligations contained herein the parties hereto agree as follows: 
 Section 1. Consent and Waiver

 Effective as of the Waiver Effective Date (as defined below), the Lenders and the Agent waive the Specified Covenant with respect
to the Fiscal Year ended December 31 2007; provided that the Borrower delivers to the Agent, by March 31, 2008, audited Consolidated Financial Statements for the Fiscal Year ended December 31 2007 certified “without
qualification as to the scope of the audit or as to the Borrower being a going concern by the Borrower’s Accountants”, other than any qualification arising as a result of the Borrower failing to renew its existing manufacturing contract
with PepsiCo, Inc., and which otherwise comply with Section 6.1(c) of the Credit Agreement. 

 CONSENT AND WAIVER TO CREDIT
AGREEMENT 
 CONSTAR INTERNATIONAL INC. 
  
 Section 2. Conditions Precedent to the Effectiveness of this
Consent and Waiver 
 This Consent and Waiver shall become effective when, and only when (the “Waiver Effective
Date”) the Agent shall have received this Consent and Waiver, duly executed by the Borrower, the Guarantors, the Agent and the Requisite Lenders. 
 Section 3. Representations and Warranties 
 The Borrower hereby certifies that the
following statements are true on the date hereof after giving effect to this Consent and Waiver: 
 (a) Representations and Warranties.
Each of the representations and warranties contained in Article IV (Representations and Warranties) of the Credit Agreement, the other Loan Documents or in any certificate, document or financial or other statement furnished at any
time under or in connection therewith are true and correct in all material respects on and as of the date hereof and the Waiver Effective Date, in each case as if made on and as of such date and except to the extent that such representations and
warranties specifically relate to a specific date, in which case such representations and warranties shall be true and correct in all material respects as of such specific date; provided, however, that references therein to the
“Credit Agreement” shall be deemed to refer to the Credit Agreement as supplemented by this Consent and Waiver; and 
 (b)
No Default or Event of Default. No Default or Event of Default shall have occurred and be continuing, either on the date hereof or on the Waiver Effective Date. 
 Section 4. Execution in Counterparts 
 This Consent and Waiver may be executed in any
number of counterparts and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages may be detached
from multiple separate counterparts and attached to a single counterpart so that all signature pages are attached to the same document. Delivery of an executed counterpart by telecopy shall be effective as delivery of a manually executed counterpart
of this Consent and Waiver. 
 Section 5. Governing Law 
 This Consent and Waiver shall be governed by and construed in accordance with the law of the State of New York. 
 Section 6. Section Titles 
 The section titles contained in this Consent and Waiver are and shall be without substantive meaning or content of any kind whatsoever and are not a part of the agreement between the parties hereto, except when used to reference a section.
Any reference to the number of a clause, sub-clause or subsection of any Loan Document immediately followed by a reference in parenthesis to the title of the section of such Loan Document containing such clause, sub-clause or subsection is a
reference to such clause, sub-clause or subsection and not to the entire section; provided, however, that, in case of direct conflict between the reference to the title and the reference to the number of such section, the reference to
the title shall govern absent manifest 

  

 - 2 - 

 CONSENT AND WAIVER TO CREDIT
AGREEMENT 
 CONSTAR INTERNATIONAL INC. 
  
 
error. If any reference to the number of a section (but not to any clause, sub-clause or subsection thereof) of any Loan Document is followed immediately by
a reference in parenthesis to the title of a section of any Loan Document, the title reference shall govern in case of direct conflict absent manifest error. 
 Section 7. Notices 
 All communications and notices hereunder shall be given as provided
in the Credit Agreement. 
 Section 8. Severability 
 The fact that any term or provision of this Consent and Waiver is held invalid, illegal or unenforceable as to any person in any situation in any
jurisdiction shall not affect the validity, enforceability or legality of the remaining terms or provisions hereof or the validity, enforceability or legality of such offending term or provision in any other situation or jurisdiction or as applied
to any person 
 Section 9. Successors 
 The terms of this Consent and Waiver shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and assigns. 
 Section 10. Waiver of Jury Trial 
 EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES TRIAL BY JURY IN
ANY ACTION OR PROCEEDING WITH RESPECT TO THIS CONSENT AND WAIVER OR
ANY OTHER LOAN DOCUMENT. 
 [SIGNATURE PAGES
FOLLOW] 
  

 - 3 - 

 IN WITNESS WHEREOF, the parties hereto have caused
this Consent and Waiver to be executed by their respective officers as of the date first written above. 
  

			
	 CONSTAR INTERNATIONAL INC.,
as Borrower

		
	By:	 	 /s/ Walter S. Sobon

	Name:	 	Walter S. Sobon
	Title:	 	Executive VP and CFO

 [SIGNATURE PAGE TO CONSENT
AND WAIVER] 

			
	Guarantors:
	
	 CONSTAR INTERNATIONAL U.K. LIMITED,
as Guarantor

		
	By:	 	 /s/ Christopher Phelan

	Name:	 	Christopher Phelan
	Title:	 	VP, European Operations
	
	 CONSTAR INC.,
as Guarantor

		
	By:	 	 /s/ Walter Sobon

	Name:	 	Walter Sobon
	Title:	 	Executive VP and CFO
	
	 BFF INC.,
as Guarantor

		
	By:	 	 /s/ Walter Sobon

	Name:	 	Walter Sobon
	Title:	 	Executive VP and CFO
	
	 DT, INC.,
as Guarantor

		
	By:	 	 /s/ Walter Sobon

	Name:	 	Walter Sobon
	Title:	 	Executive VP and CFO
	
	 CONSTAR FOREIGN HOLDINGS, INC.,
as
Guarantor

		
	By:	 	 /s/ Walter Sobon

	Name:	 	Walter Sobon
	Title:	 	Executive VP and CFO

 [SIGNATURE PAGE TO CONSENT
AND WAIVER] 

			
	 CITICORP USA, Inc.,
as Administrative Agent and Lender

		
	By:	 	 /s/ David Jaffe

	Name:	 	David Jaffe
	Title:	 	Director/Vice President
	
	 WELLS FARGO FOOTHILL, LLC,
as Lender

		
	By:	 	 /s/ Mark Bradford

	Name:	 	Mark Bradford
	Title:	 	Vice President

 [SIGNATURE PAGE TO CONSENT
AND WAIVER]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]